CC RES 2023-030 RESOLUTION NO. 2023-30
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO PALOS VERDES ESTABLISHING THE FISCAL
YEAR 2023-24 APPROPRIATION LIMIT AT $37,516,080
FOR THE CITY OF RANCHO PALOS VERDES
WHEREAS, the City of Rancho Palos Verdes has established its Appropriation
Limit of $37,516,080 (Thirty-Seven Million, Five Hundred Sixteen Thousand and Eighty
Dollars) for FY 2023-24; and,
WHEREAS, by a letter, dated May 2023, the California Department of Finance has
provided the following factors relevant to the calculation of the Appropriation Limit for FY
2023-24:
California Per Capita Personal Income change:
4.44% (Four Point Forty-Four Percent)
City of Rancho Palos Verdes Population Adjustment:
-1.02% (Negative One Point Zero Two Percent)
WHEREAS, the City's Finance Department Staff has calculated the Appropriation
Limit for FY 2023-24 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
2023-24.
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
$37,516,080 (Thirty-Seven Million, Five Hundred Sixteen Thousand and Eighty Dollars)
for FY 2023-24.
Section 2: The Appropriation Limit of the City of Rancho Palos Verdes in the
amount of$37,516,080 (Thirty-Seven Million, Five Hundred Sixteen Thousand and Eighty
Dollars) for FY 2023-24 exceeds the proceeds from taxes, calculated in the amount of
$30,989,920 (Thirty Million, Nine Hundred Eighty-Nine Thousand and Nine Hundred
Twenty Dollars) for FY 2023-24. 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 20TH DAY OF JUNE 2023.
Barbara erraro, Mayor
ATTEST:
eres. = aoka, 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. 2023-30 was duly and regularly passed and adopted by the
said City Council at a regular meeting thereof held on June 20,.2023.
er=sa.a'kaoka, City Clerk
Resolution No 2023-30
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