CC RES 2013-035 RESOLUTION NO. 2013-35
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF RANCHO PALOS VERDES ESTABLISHING
THE FISCAL YEAR 2013-2014 APPROPRIATION LIMIT
FOR THE CITY OF RANCHO PALOS VERDES.
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation Limit of
$24,803,869 (Twenty-Four Million, Eight-Hundred and Three Thousand, Eight Hundred and
Sixty Nine Dollars) for FY13-14; and
WHEREAS, by a letter, dated May 2013, the California Department of Finance has provided
the following factors relevant to the calculation of the Appropriation Limit for FYI3--14:
California Per Capita Personal Income change:
Plus 5.12% (+ Five Point Twelve Percent)
County of Los Angeles Population Adjustment:
Plus 0.69% (+ Zero Point Sixty Nine Percent)
WHEREAS, the City Finance staff has calculated the Appropriation Limit for FY13-14 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 FY13-14.
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 $24,803,869
(Twenty-Four Million, Eight-Hundred and Three Thousand, Eight Hundred and Sixty Nine
Dollars) for FY13-14.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the amount of
$24,803,869 (Twenty-Four Million, Eight-Hundred and Three Thousand, Eight Hundred and
Sixty Nine Dollars) exceeds the proceeds from taxes, calculated in the amount of
$20,069,270 (Twenty Million, Sixty Nine Thousand, Two Hundred and Seventy Dollars) for
FY13-14. 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 18th DAY OF JUNE 2013.
QrYckc-tP-71 (15,1
ayor
ATTEST:
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, Cara Morreale, City Clerk of the City of Rancho Palos Verdes, hereby certify that the above
Resolution No. 2013-35 was duly and regularly passed and adopted by the said City Council
at a regular meeting thereof held on June 18, 2013.
1(44..i /AeA4.4R,L-
4p, City Clerk
Resolution No. 2013-35
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