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CITY OF COLTON <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF JUNE 7, 2005 <br />TO: HONORABLE MAYOR AND CITY COUNCIILn, <br />FROM: DILU DE ALWIS, FINANCE DIRECTOR <br />SUBJECT: ANNUAL APPROPRIATION LIMIT <br />DATE: MAY 31, 2005 <br />Item #24 <br />BACKGROUND: <br />On November 6, 1979, the voters of California added Article XIII -13 to the State Constitution <br />placing various limitations on the appropriations of state and local governments. Each year the <br />City must calculate its annual limit by adjusting the previous year's limit by changes in the cost of <br />living and population. <br />DISCUSSION/ANALYSIS: <br />The City's appropriation limit for fiscal year 2005-2006 is $46,378,712. The appropriations subject <br />to limitation are $18,348,606 (see schedule B). Therefore, the City is under its limit by <br />$28,030,106 (see schedule A). As a result, there is no possibility of the City needing to refund <br />any taxes previously collected. <br />FINANCIAL IMPACT: <br />None: <br />ENVIRONMENTAL IMPACT: <br />None <br />CONFLICT OF INTEREST <br />None <br />RECOMMENDATION: <br />In order to comply with Article XIII -B of the State Constitution, staff recommends Council approve <br />the calculation of the 2005-06 annual appropriations limit (as set forth in attached Schedules A <br />and B) by adopting the attached Resolution. <br />Attachment: 2 Schedules <br />Prepared by: Lorraine Armstrong <br />REVIEW TEAM ONLY <br />City Attorney: A Finance Director: i <br />City Manager: OTHER: <br />