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CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of October 6, 1992 <br />TO: <br />Honorable <br />Mayor and <br />City Council <br />FROM: <br />Richard E. <br />Acevedo, <br />Finance Directo <br />SUBJECT: Annual Appropriations Limit Date: September 15, 1992 <br />---------------------------------------------------------------- <br />---------------------------------------------------------------- <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, this year's limit for the City of Colton is $22,291,375. This <br />amount exceeds estimated proceeds from taxes subject to the limit by <br />$15,000,061. <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 />1991-92. <br />REA/bjw <br />City Manager Concurrence <br />Attachments: Resolution <br />Page 1 of Item No. IS <br />