CC RES 2019-019 RESOLUTION NO. 2019-19
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO PALOS VERDES ESTABLISHING THE FISCAL
YEAR 2019-2020 APPROPRIATION LIMIT FOR THE CITY
OF RANCHO PALOS VERDES
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation
Limit of $31,300,056 (Thirty-one Million, Three Hundred Thousand Fifty-six Dollars) for
FY 2019-20; and,
WHEREAS, by a letter, dated May 2019, the California Department of Finance has
provided the following factors relevant to the calculation of the Appropriation Limit for FY
2019-20:
California Per Capita Personal Income change:
3.85% (Three Point Eight Five Percent)
County of Los Angeles Population Adjustment:
-0.01% (Negative Zero Point Zero-One Percent)
WHEREAS, the City Finance Staff has calculated the Appropriation Limit for FY
2019-20 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 FY
2019-20.
NOW 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 of
$31,300,056 (Thirty-one Million, Three Hundred Thousand Fifty-six Dollars) for FY 2019-
20.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the
amount of$31,300,056 (Thirty-one Million, Three Hundred Thousand Fifty-six Dollars)for
FY 2019-20 exceeds the proceeds from taxes, calculated in the amount of $25,513,980
(Twenty-Five Million, Five Hundred Thirteen Thousand Nine Hundred Eighty Dollars) for
FY 2019-20. 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 2019.
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ayor
ATTEST:
C414-- Y
ity Clerk
14111 -
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, Emily Colborn, City Clerk of The City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2019-19 was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on June 18, 2019.
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City Clerk