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CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of December 3, 1991 <br />TO: Honorable Mayor and City Council p <br />FROM: Richard E. Acevedo, Finance Director �K <br />0° <br />SUBJECT: Annual Appropriations Limit <br />Discussion: <br />Date: 11/21/91 <br />Article XIIIB of the California Constitution requires the City to <br />adopt an annual appropriations limit by resolution each fiscal year. <br />Based on Fiscal Year 1978-79 actual expenditures, increased each year <br />for the change in local population and the change in either CPI or <br />personal per capita income, this year's limit for the City of Colton <br />is $19,960,042. This amount exceeds estimated proceeds from taxes <br />subject to the limit by $3,798,612. <br />Recommendation: <br />Adopt resolution titled: <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON AP- <br />PROVING AND ADOPTING THE ANNUAL APPROPRIATIONS LIMIT FOR THE <br />FISCAL YEAR 1990-91. <br />City Manager Concurrence <br />Attachments: Resolution <br />Calculation Summaries <br />Page 1 of. <br />Item No. /I <br />FILE NO. ...................... 2J <br />