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HEARING: Auditor-Controller recommending the Board hold a public hearing on June 12, 2012 at 9:00 a.m. for the discussion and adoption of Resolution 068-2012 establishing the Fiscal Year 2012-2013 Proposition 4 ("Gann Spending Limit") for the County of El Dorado in the amount of $167,135,901. (Cont'd 5/22/12, Item 2) (Est. Time: 5 Min.)
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In accordance with the provisions of the spending limitation legislation implementing Proposition 4 (1979 Gann Initiative), before considering the adoption of a budget for the next fiscal year, your Board should adopt a new appropriations limit. Government Code
Section 7910 requires that the governing body of each local jurisdiction establish its appropriations limit by resolution for the following fiscal year at a regular or special meeting. The law provides that your Board should hold a hearing for the purpose of receiving testimony and other evidence regarding the appropriations limit, and that the data used in developing the proposed limit be available for more than fifteen (15) days prior to the hearing. The data used in developing the growth over the prior limit has been available and the proposed limit for Fiscal Year 2012-2013 has been computed. Attachment I presents a comparison of the "adopted limits" and actual "tax proceeds" for prior fiscal periods and an estimate of the current fiscal period. Attachment II presents the schedule detailing the Proposition 4 compliance for Fiscal Year 2010-2011 actual revenues. Attachment III presents the schedule detailing a projection of Proposition 4 compliance for Fiscal Year 2011-2012 adopted revenues.
Action to be taken following Board approval: The Board Chair will sign the Resolution adopting the Appropriations Limit for Fiscal Year 2012-2013.