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ADMINISTRATIVE
COMMITTEE |
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7. |
CONSIDER ADOPTION OF
RESOLUTION 2008-10 ESTABLISHING ARTICLE XIII (B) APPROPRIATIONS LIMIT FOR
FISCAL YEAR 2008-09 |
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Meeting
Date: |
June 5, 2008 |
Budgeted: |
N/A |
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From: |
Darby
Fuerst |
Program/ |
N/A |
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General
Manager |
Line Item No.: |
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Prepared
By: |
Rick
Dickhaut |
Cost Estimate: |
N/A |
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General Counsel Approval: N/A |
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Committee Recommendation: The Administrative Committee reviewed this item on June 5, 2008 and recommended _____________. |
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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 7-A is Resolution 2008-__, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2008-09. The resolution establishes an appropriations limit of $1,245,463 for fiscal year 2008-09 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 $1,432,000 in property tax revenues during that fiscal year. After subtracting exempt appropriations of $1,895,500 from the estimated property tax revenues, the appropriations subject to the limit are $(463,500), which is under the appropriations limit calculated under the provisions of Article XIII (B).
RECOMMENDATION: Staff recommends adoption Resolution 2008-__, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2008-09 in the amount of $1,245,463. The Administrative Committee reviewed this item at its June 5, 2008 meeting and voted _-_ to recommend __________.
7-A Resolution 2008-__
U:\staff\word\committees\Admin\2008\20080605\07\item7.doc