CC RES 2020-035 RESOLUTION NO. 2020-35
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO PALOS VERDES ESTABLISHING THE FISCAL
YEAR 2020-21 APPROPRIATION LIMIT FOR THE CITY OF
RANCHO PALOS VERDES
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation
Limit of $31,301,409 (Thirty-one Million, Three Hundred One Thousand and Four
Hundred Nine Dollars) for FY 2020-21; and,
WHEREAS, by a letter, dated May 2020, the California Department of Finance has
provided the following factors relevant to the calculation of the Appropriation Limit for FY
2020-21:
California Per Capita Personal Income change:
3.73% (Three Point Seven Three Percent)
County of Los Angeles Population Adjustment:
-0.11% (Negative Zero Point Eleven Percent)
WHEREAS, the City's Finance Staff has calculated the Appropriation Limit for FY
111 2020-21 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
2020-21.
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
$31,301,409 (Thirty-one Million, Three Hundred One Thousand and Four Hundred Nine
Dollars) for FY 2020-21.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the
amount of $31,301,409 (Thirty-one Million, Three Hundred One Thousand and Four
Hundred Nine Dollars) for FY 2020-21 exceeds the proceeds from taxes, calculated in
the amount of $23,621,500 (Twenty-Three Million, Six Hundred Twenty One and Five
Hundred Dollars) for FY 2020-21. 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 16TH DAY OF JUNE 2020.
111
Paii
\JMAYOR
ATTEST:
�TY CLERK
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. 2020-35 was duly and regularly passed and adopted by the
said City Council at a regular meeting thereof held on June 16, 2020.
III°°z4111
TY CLERK
111
Resolution No. 2020-35
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