Adoption of a Resolution Approving and Adopting the Annual Appropriations Limit for Fiscal Year 2011/2012. City of Culver City California Agenda Item Report Meeting Date: 06/13/11 CITY COUNCIL AGENDA ITEM: Adoption of a Resolution Approving and Adopting the Annual Appropriations Limit for Fiscal Year 2011/2012. Item Number: C 2 Contact Person/Dept.: Mary V. Noller Budget & Accounting Operations Fiscal Impact: Yes No X Phone Number: (310) 253 6012 General Fund: Yes No X Public Hearing: Public Notification: (E Mail) Agenda and Meetings City Council (06/08/11); Notification published in the Culver City News on May 26 2011 and June 2 2011. Action Item: Attachments: X Department Approval: Jeff Muir (06/07/11) Chief Financial Officer Review: Jeff Muir (06/08/11) City Attorney Approval: Carol Schwab (by H. Baker) (06/08/11) City Manager Approval: John M. Nachbar (06/08/11) RECOMMENDATION: Staff recommends the City Council adopt a Resolution approving and adopting the Annual Appropriations Limit for Fiscal Year 2011/2012. BACKGROUND/DISCUSSION: Proposition 4 approved by the voters on November 6 1979 added Article XIII B to the State Constitution. Article XIII B places an appropriations limit on State and local governments and requires them to establish their appropriations limit by resolution each year at a regularly scheduled meeting or a noticed special meeting. As adopted in 1979 Article XIII B provided that Fiscal Year 1978/1979 would be considered the base year used to calculate the appropriations limit. Article XIII B was amended by the voters in 1990 through the approval of Proposition 111 which provided Fiscal Year 1986/1987 would become the base year. FISCAL ANALYSIS: As mentioned the base year for calculating the appropriations limit is Fiscal Year 1986/1987. Each subsequent year the total annual appropriations subject to the limit may not exceed the appropriations limit for the prior year adjusted for changes in the cost of living and city or county population. B...
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