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FINANCE
AND ADMINISTRATION COMMITTEE |
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ITEM: |
ACTION
ITEM |
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12. |
CONSIDER ADOPTION OF
RESOLUTION NO. 2025-02 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2025-2026 APPROPRIATIONS
LIMIT |
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Meeting
Date: |
May
12, 2025
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Budgeted:
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N/A
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From: |
David J.
Stoldt |
Program/
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N/A |
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General
Manager |
Line Item No.: |
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Prepared
By: |
Nishil
Bali |
Cost
Estimate: |
N/A |
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General Counsel Review:
N/A
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Committee Recommendation: The Finance &
Administrative Committee reviewed this item on May 12, 2025, and recommended
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CEQA Compliance: This action does
not constitute a project as defined by the California Environmental Quality
Act Guidelines Section 15378. |
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SUMMARY: Article XIII (B) of the California Constitution requires that an appropriations limit be calculated on an annual basis. Attached as Exhibit 12-A is Resolution No. 2025-02 - A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2025-2026. The resolution establishes an appropriations limit of $2,379,866 for fiscal year 2025-2026 as calculated on the Property Tax Appropriations Limit worksheet, which is Attachment 1 to the resolution. The worksheet also shows that District estimates that it will receive $3,000,000 in property tax revenues during the fiscal year. After subtracting exempt appropriations of $1,954,157 from the estimated property tax revenues, the appropriations subject to the limit are $1,045,843, which is under the appropriations limit calculated under the provisions of Article XIII (B), resulting in no estimated excess tax revenue.
RECOMMENDATION: The Finance and Administration Committee should recommend the adoption of Resolution 2025-02, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2025-2026 in the amount of $2,379,866.
12-A Draft Resolution No. 2025-02 and Attachment 1
U:\staff\Board_Committees\FAC prev
Admin\2025\051225\Action Items\12\Item-12.docx