CC RES 2021-025 RESOLUTION NO. 2021-25
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO PALOS VERDES ESTABLISHING THE FISCAL
YEAR 2021-22 APPROPRIATION LIMIT FOR THE CITY OF
RANCHO PALOS VERDES
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation
Limit of $32,800,435 (Thirty-Two Million Eight Hundred Thousand Four Hundred Thirty-
Five Dollars) for FY 2021-22; and,
WHEREAS, by a letter, dated May 2021, the California Department of Finance has
provided the following factors relevant to the calculation of the Appropriation Limit for FY
2021-22:
California Per Capita Personal Income change:
5.73% (Five Point Seventy-Three Percent)
County of Los Angeles Population Adjustment:
-0.89% (Negative Zero Point Eighty-Nine Percent)
WHEREAS, the City's Finance Staff has calculated the Appropriation Limit for FY
111 2021-22 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
2021-22.
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
$32,800,435 (Thirty-Two Million, Eight Hundred and Four Hundred Thirty-Five Dollars)
for FY 2021-22.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the
amount of$32,800,435 (Thirty-Two Million Eight Hundred Thousand Four Hundred Thirty-
Five Dollars) for FY 2020-21 exceeds the proceeds from taxes, calculated in the amount
of $24,285,400 (Twenty-Four Million Two Hundred Eighty-Five Thousand Four Hundred
Dollars) for FY 2021-22. 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 2021.
111
Mayor ,� (-
ATTEST: -ATTEST:
C4t4i/Alc-;4491,2/1.)
City Clerk
State of California )
County of Los Angeles ) ss
City of Rancho Palos Verdes )
I, Teresa Takaoka, City Clerk of The City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2021-25 was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on June 15, 2021.
111
City Clerk
111
Resolution No. 2021-25
Page 2 of 2