Title
HEARING - Auditor-Controller recommending the Board adopt and authorize the Chair to sign Resolution 074-2021 for the Appropriations Limit for Fiscal Year 2021-22
FUNDING: N/A
Body
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 2021-2022 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 2019-2020 actual revenues. Attachment III presents the schedule detailing a projection of Proposition 4 compliance for Fiscal Year 2020-2021 adopted revenues.
ALTERNATIVES
N/A
PRIOR BOARD ACTION
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
FINANCIAL IMPACT
N/A
CAO RECOMMENATION
Approve as recommended
CLERK OF THE BOARD FOLLOW UP ACTIONS
Forward one executed resolution to the Auditor-Controller's Office.
STRATEGIC PLAN COMPONENT
N/A
CONTACT
Joe Harn