ITEM:

CONSENT CALENDAR

 

12.

CONSIDER ADOPTION OF RESOLUTION NO. 2024-05 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2023-2024 APPROPRIATIONS LIMIT

 

Meeting Date:

May 20, 2024

Budgeted: 

N/A

 

From:

David J. Stoldt

Program/

N/A

 

General Manager

Line Item No.:

 

Prepared By:

Nishil Bali

Cost Estimate:

N/A

 

General Counsel Review:  N/A

Committee Recommendation:  The Finance and Administrative Committee reviewed this item on May 13, 2024 and recommended approval.

CEQA Compliance:  This action does not constitute a project as defined by the California Environmental Quality Act Guidelines Section 15378.

 

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. 2024-05, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2024-2025.  The resolution establishes an appropriations limit of $2,236,614 for fiscal year 2024-2025 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 $2,700,000 in property tax revenues during the fiscal year.  After subtracting exempt appropriations of $722,350 from the estimated property tax revenues, the appropriations subject to the limit are $1,977,650, 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 recommends that the Board adopt Resolution No. 2024-05, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2024-2025 in the amount of $2,236,614. 

 

EXHIBIT

12-A    Resolution No. 2024-05

 

 

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