Adoption of a Resolution Approving and Adopting the Annual Appropriations Limit for Fiscal Year 2008 09. City of Culver City California City Council Agenda Item Report Meeting Date: 6/16/08 AGENDA ITEM: Adoption of a Resolution Approving and Adopting the Annual Appropriations Limit for Fiscal Year 2008 09. Item Number: C 2 Contact Person/Dept.: Mary V. Noller Budget & Finance Fiscal Impact: Yes No X Phone Number: (310) 253 6012 General Fund: Yes No X Action Item: Public Hearing: Public Notification: Notification published in the Culver City News on May 29 2008 and June 5 2008; Master E Mail Notification List (06/11/08); Department Approval: Jeff Muir (06/11/08) Chief Financial Officer Approval: Jeff Muir (by M. Noller) (06/11/08) City Attorney Approval: Carol Schwab (by H. Baker) (06/11/08) City Manager Approval: Jerry B. Fulwood (06/12/08) Attachments: X RECOMMENDATION: Staff recommends the City Council adopt the Resolution approving and adopting the Annual Appropriations Limit for Fiscal Year 2008 09. BACKGROUND/DISCUSSION: The Appropriations Limit otherwise known as the Gann Limit or 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 XIIIB provided that Fiscal Year 1978 79 would be considered the base year used to calculate the appropriations limit. Article XIIIB was amended by the voters in 1990 with 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 87. 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 ci...
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