CC RES 2014-036 RESOLUTION NO. 2014-36
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF RANCHO PALOS VERDES ESTABLISHING
THE FISCAL YEAR 2014-2015 APPROPRIATION LIMIT
FOR THE CITY OF RANCHO PALOS VERDES.
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation Limit of
$24,939,845 (Twenty-Four Million, Nine-Hundred and Thirty Nine Thousand, Eight Hundred
and Forty Five Dollars) for FY14-15; and
WHEREAS, by a letter, dated May 2014, the California Department of Finance has provided
the following factors relevant to the calculation of the Appropriation Limit for FY14-15:
California Per Capita Personal Income change:
Minus 0.23% (- Zero Point Twenty Three Percent)
County of Los Angeles Population Adjustment:
Plus 0.78% (+ Zero Point Seventy Eight Percent)
WHEREAS, the City Finance staff has calculated the Appropriation Limit for FY14-15 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 FY14-15.
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 $24,939,845
(Twenty-Four Million, Nine-Hundred and Thirty Nine Thousand, Eight Hundred and Forty Five
Dollars) for FY14-15.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the amount of
$24,939,845 (Twenty-Four Million, Nine-Hundred and Thirty Nine Thousand, Eight Hundred
and Forty Five Dollars) exceeds the proceeds from taxes, calculated in the amount of
$21,366,388 (Twenty One Million, Three-Hundred and Sixty Six Thousand, Three Hundred
and Eighty Eight Dollars) for FY14-15. 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 17th DAY OF JUNE 2014.
t
Mayor
ATTSTiai,
(qf )0,0-WiLee—
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. 2014-36 was duly and regularly passed and adopted by the said City
Council at a regular meeting thereof held on June 17, 2014.
City Clerk
Resolution No. 2014-36
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