FINANCE AND ADMINISTRATION COMMITTEE
ITEM:		ACTION ITEM
13.	CONSIDER ADOPTION OF RESOLUTION 2023-09 ESTABLISHING ARTICLE XIII (B) FISCAL YEAR 2023-2024 APPROPRIATIONS LIMIT
Meeting Date:			June 12, 2023	Budgeted:	N/A
From:			David J. Stoldt	Program/	N/A
			General Manager	Line Item No.:
Prepared By:			Suresh Prasad	Cost Estimate:	N/A
General Counsel Review: N/A
Committee Recommendation: The Finance and Administration Committee reviewed this item on June 12, 2023 and recommended _____________.
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 13-A is Resolution 2023-09, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2023-2024. The resolution establishes an appropriations limit of $2,146,457 for fiscal year 2023-2024 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 $2,600,000 in property tax revenues during the fiscal year. After subtracting exempt appropriations of $553,000 from the estimated property tax revenues, the appropriations subject to the limit are $2,047,000, which is under the appropriations limit calculated under the provisions of Article XIII (B), resulting in estimated excess tax revenue of $0.00.

RECOMMENDATION: The Finance and Administration Committee should recommend that the Board adopt Resolution 2023-09, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Establishing an Appropriations Limit for Fiscal Year 2023-2024 in the amount of $2,146,457.

EXHIBIT

13-A Resolution 2023-09

U:\staff\Board_Committees\FAC prev Admin\2023\20230612\13\Item-13.docx