CC RES 2010-044 RESOLUTION NO. 2010-44
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF RANCHO PALOS VERDES ESTABLISHING
THE FISCAL YEAR 2010-2011 APPROPRIATION LIMIT
FOR THE CITY OF RANCHO PALOS VERDES.
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation Limit of
$21,854,570 (Twenty-One Million, Eight-Hundred and Fifty-Four Thousand, Five Hundred
and Seventy Dollars) for FY10-11; and
WHEREAS, by a letter, dated May 2010, the California Department of Finance has
provided the following factors relevant to the calculation of the Appropriation Limit for
FY 10-11:
California Per Capita Personal Income change:
Minus 2.54% (- Two Point Five Four Percent)
County of Los Angeles Population Adjustment:
Plus 0.83% (+ Zero Point Eight Three Percent)
WHEREAS, the City Finance staff has calculated the Appropriation Limit for FY10-11
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 FY10-11.
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 $21,854,570
(Twenty-One Million, Eight-Hundred and Fifty-Four Thousand, Five Hundred and Seventy
Dollars) for FY09-10.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the amount of
$21,854,570 (Twenty-One Million, Eight-Hundred and Fifty-Four Thousand, Five Hundred
and Seventy Dollars) exceeds the proceeds from taxes, calculated in the amount of
$16,946,217 (Sixteen Million, Nine-Hundred and Forty-Six Thousand, Two Hundred and
Seventeen Dollars) for FY10-11. 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 15th DAY OF JUNE 2010.
%4 �ayor
ATTEST:
12e 14i,A ee
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. 2010-44 was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on June 15, 2010.
1Ae (1)714Mdic
City Clerk
Resolution No. 2010-44
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