Title
HEARING - Auditor-Controller recommending the Board adopt and authorize the Chair to sign Resolution 120-2018 for the Appropriations Limit for Fiscal Year 2018-19. (Cont. 5/22/2018, Item 2) (Est. Time: 5 Min.)
Body
DEPARTMENT RECOMMENDATION
Auditor-Controller recommending the Board receive and file the report on “Comparison of Actual Tax Proceeds to Adopted Appropriations Limit”, the schedule of Prop 4 Compliance for Fiscal Year 2016/17 Actual Revenues, the schedule of Prop 4 Compliance for Fiscal Year 2017-18 Adopted Revenues and set a public hearing for June 12, 2018 at 11:00 a.m. for the discussion and adoption of the resolution for the Appropriations Limit for Fiscal Year 2018-19.
DISCUSSION / BACKGROUND
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 2018-2019 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 2016-2017 actual revenues. Attachment III presents the schedule detailing a projection of Proposition 4 compliance for Fiscal Year 2017-2018 adopted...
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