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CITY OF COLTOM <br />AGENDA REPORT <br />For Council Meeting of July 20, 1993 <br />TO: Honorable Mayor and City Council <br />FROM: Richard E. Acevedo, Finance Directr <br />SUBJECT: Annual Appropriations Limit July 8, 1993 <br />DISCUSSION: <br />Article XIIIB of the California Constitution requires the City to adopt an <br />annual appropriations limit by resolution each fiscal year. Based on <br />Fiscal Year 1978-79 actual expenditures, increased each year for the change <br />in local population and the change in either CPI or personal per capita <br />income, the limit for the City of Colton, for fiscal year 1992-93 is <br />$23,015,845. This amount exceeds estimated proceeds from taxes subject to <br />the limit by $14,291,423. <br />RECOMMENDATION: <br />Adopt resolution titled: <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON APPROVING <br />AND ADOPTING THE ANNUAL APPROPRIATIONS LIMIT FOR THE FISCAL YEAR <br />1992-93. <br />REA/bje <br />City Manager's Concurrence L <br />Attachments: Resolution <br />Page 1 of Item No.eb� <br />