CC RES 2011-037 RESOLUTION NO. 2011-37
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF RANCHO PALOS VERDES ESTABLISHING
THE FISCAL YEAR 2011-2012 APPROPRIATION LIMIT
FOR THE CITY OF RANCHO PALOS VERDES.
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation Limit of
$22,488,252 (Twenty-Two Million, Four-Hundred and Eighty-Eight Thousand, Two Hundred
and Fifty-Two Dollars) for FY11-12; and
WHEREAS, by a letter, dated May 2011, the California Department of Finance has provided
the following factors relevant to the calculation of the Appropriation Limit for FYI 1-12:
California Per Capita Personal Income change:
Plus 2.51% (+ Two Point Five One Percent)
County of Los Angeles Population Adjustment:
Plus 0.38% (+ Zero Point Thirty Eight Percent)
WHEREAS, the City Finance staff has calculated the Appropriation Limit for FY11-12 based
upon the foregoing factors and the provisions of Article XIII B of the Constitution of the State
of California. The working papers supporting the calculation are maintained in the files of the
Finance department within the City.
WHEREAS, the Appropriation Limit for the City of Rancho Palos Verdes establishes the
ceiling for which proceeds from taxes can be appropriated during FY11-12.
BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES:
Section 1: The Appropriation Limit of the City of Rancho Palos Verdes is $22,488,252
(Twenty-Two Million, Four-Hundred and Eighty-Eight Thousand, Two Hundred and Fifty-Two
Dollars) for FY11-12.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the amount of
$22,488,252 (Twenty-Two Million, Four-Hundred and Eighty-Eight Thousand, Two Hundred
and Fifty-Two Dollars) exceeds the proceeds from taxes, calculated in the amount of
$18,439,843 (Eighteen Million, Four-Hundred and Thirty-Nine Thousand, Eight Hundred and
Forty-Three Dollars) for FY11-12. Therefore, the City of Rancho Palos Verdes shall be in
compliance with the provisions of Article XIII B of the Constitution of the State of California.
Section 3: The City Clerk shall certify to the passage of this resolution.
APPROVED AND ADOPTED THE 21st DAY OF JU '011.
Mayor
ATTEST:
City Clerk
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, Carla Morreale, City Clerk of The City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2011-37 was duly and regularly passed and adopted by the said City
Council at a regular meeting thereof held on June 21, 2011.
5f,/ C7,712411.-eat
City Clerk
Resolution No. 2011-37
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