1987-072-Setting The FY 1987-88 Appropriations Limit For Revenue Generated From "Proceeds Of Taxes" Pursuant To Article XIII Of The State ConstitutionRESOLUTION NO. 1987 -72
A RESOLUTION SETTING THE FY 1987 -88 APPROPRIATIONS LIMIT FOR REVENUE
GENERATED FROM "PROCEEDS OF TAXES" PURSUANT TO ARTICLE XIII (B) OF
THE STATE CONSTITUTION
WHEREAS, Article XIII (B) of the California State Constitution provides that
local governments are subject to an appropriations limit from revenues designated as
' °proceeds of taxes ", and
WHEREAS, the Town of Los Gatos has determined its appropriations limits for the
fiscal year beginning July 1, 1987 and ending June 30, 1988.
NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Los Gatos,
County of Santa Clara, State of California, that the appropriations limit for the
Town of Los Gatos for the fiscal year 1987 -88 is established at $8,916,334.
PASSED AND ADOPTED at a continued regular meeting of the Town Council of the
Town of Los Gatos held on 29th day of June , 1987 by the following vote:
AYES: COUNCIL MEMBERS Joanne Benjamin, Thomas J. Ferrito, Robert L.
Hamilton, and Mayor Brent N. Ventura
NOES: COUNCIL MEMBERS None
ABSTAIN: COUNCIL MEMBERS
ABSENT: COUNCIL MEMBERS
SIGNED:
ATTEST:
None
Eric D. Carlson
CLERK K OF THE tOWN OF LOS rO7 -�
1987 -88
APPROPRIATION LIMIT
1987 -88 Recommended
Operating Budget Appropriation
Less:
Hon- Proceeds of taxes
Personal Leave
Capital Projects
Appropriations Subject to Limit
1987 -88 Appropriation Limit
Balance Under Authorization
$2,740,971
100,000
432,600
$11,648,760
3,273,571
8,375,189
8,916,334
541,145
1987 -88
PROPRIATION LIMIT
rnnVPrTnH
U.S. CPI 3.04 % 1.0304
Population Change [0.75]90 1.00*
*There is no "penalty" for declining population
Ratio of change: 1.0304 X 1.00 = 1.0304
1986 -87 revised limit ** x ratio of change
$8,653,275 x 1.0304 = $8,916,334
* *prior year's ratios of change were recalculated, thereby increasing the
1986 -87 appropriation limit by $26,431 (i.e., 1.04639 instead of 1.046)
1987 -88
APPROPRIATION LIMIT
1987 -88 Recommended
Operating budget Appropriation
Less:
Non- Proceeds of taxes
Personal Leave
Capital Projects
Appropriations Subject to Limit
1987 -88 Appropriation Limit
Balance Under Authorization
$11,648,760
$2,740,971
100,000
432,600 3,273,571
8,375,189
8,916,334
541,145
1937 -88 APPROPRIATION LIMIT
PROCEEDS /NON - PROCEEDS OF TAXES
1987 -88
Proceeds
Non- Proceeds
Est. Rev,
of Taxes
of Taxes
Property Taxes
$2,188,515
$2,188,515
Non- Property Taxes
5,216,965
4,832,415
$384,550
Motor Vehicle In -Lieu
939,000
939,000
Licenses and Permits
676,230
676,230
Fines and Forfeitures
302,300
302,300
Use of Mosey and Property
52,335
52,335
Current Service Charges
198,100
198,100
From Other Agencies
246,310
246,310
Miscellaneous Revenue
15,000
15,000
Mediation /Arbitration
50,000
50,000
Traffic Safety
122,500
122,500
Transit Development
141,940
141,940
Gas Tax
407,100
407,100
CDBG
145,200
145,200
Construction Tax
111,950
111,950
Storm Drain Basin
8,000
8,000
Sanitary Sewer
220,000
220,000
1965 Park Bonds
44_,900
44,900
TOTAL BEFORE INTEREST
11,086,345
7,959,930
3,126,415
INTEREST INCOME
750,000
5_38,495
211,505
TOTAL
$11,836,345
$8,498,425
$3,337,920
Less 1962 Muni Improvement Bonds
64,165
8,434,260
1987 -88 Appropriations Limit
8,916,334
Under Limit
482,074
General Fund Revenue
10,584,755
8,498,425
2,086,330
Transfers In
654,641
654,641
TOTAL
$11,239,396
$8,498,425
$2,740,971
Less 1962 Muni Improvement Bonds
64,165
64,165
$11,175,231
$8,434,260
$2,740,971