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ITEM: |
CONSENT
CALENDAR |
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11. |
CONSIDER ADOPTION OF
RESOLUTION 2014-09 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2014-2015
APPROPRIATIONS LIMIT |
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Meeting
Date: |
June
12, 2014
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Budgeted:
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N/A
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From: |
David J.
Stoldt |
Program/ |
N/A |
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General
Manager |
Line Item No.: |
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Prepared
By: |
Suresh
Prasad |
Cost
Estimate: |
N/A |
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General Counsel Review:
N/A
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Committee Recommendation: The Administrative Committee reviewed this
item on June 12, 2014 and recommended approval.
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CEQA Compliance: N/A |
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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 11-A is Resolution 2014-09, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2014-2015. The resolution establishes an appropriations limit of $1,441,156 for fiscal year 2014-2015 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 $1,500,000 in property tax revenues during that fiscal year. After subtracting exempt appropriations of $4,070,000 from the estimated property tax revenues, the appropriations subject to the limit are $(2,570,000), which is under the appropriations limit calculated under the provisions of Article XIII (B), resulting in estimated excess tax revenue of $0.00.
RECOMMENDATION: Staff recommends adoption of Resolution 2014-09, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2014-2015 in the amount of $1,441,156. The Administrative Committee reviewed this item at its June 12, 2014 meeting and voted 3 to 0 to recommend approval.
11-A Resolution 2014-09
U:\staff\Boardpacket\2014\20140623\ConsentClndr\11\item11.docx