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ADMINISTRATIVE
COMMITTEE |
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4. |
CONSIDER ADOPTION OF RESOLUTION
2011-11 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2011-12 APPROPRIATIONS
LIMIT |
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Meeting
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June 13, 2011 |
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From: |
Darby
Fuerst, |
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General
Manager |
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General Counsel Review: N/A |
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Committee Recommendation: The Administrative Committee reviewed this item on June 13, 2011 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. Included as Exhibit 4-A is Resolution 2011-11, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2011-12. The resolution establishes an appropriations limit of $1,289,466 for fiscal year 2011-12 as calculated on the Property Tax Appropriations Limit worksheet, which is Attachment 1 to the resolution. The worksheet also shows that the District estimates that it will receive $1,465,000 in property tax revenues during that fiscal year. After subtracting exempt appropriations of $2,133,800 from the estimated property tax revenues, the appropriations subject to the limit are $(668,800), 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 Resolution 2011-11, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2011-12 in the amount of $1,289,466. The Administrative Committee reviewed this item at its June 13, 2011 meeting and voted _-_ to recommend __________.
4-A Resolution 2011-11
U:\staff\word\committees\Admin\2011\20110613\04\item4.docx