Adoption of a Resolution Approving and Adopting the Annual Appropriations Limit for Fiscal Year 2013/2014. City of Culver City California City Council Agenda Item Report Meeting Date: 6/10/13 AGENDA ITEM: Adoption of a Resolution Approving and Adopting the Annual Appropriations Limit for Fiscal Year 2013/2014. Contact Person/Dept.: Mary V. Noller Budget & Accounting Operations Fiscal Impact: Yes No X Public Hearing: Commission Action Required: Yes No X Date: _______________ Public Notification: (E Mail) Agenda and Meetings City Council (06/05/13); Notification published in the Culver City News on May 30 2013. General Fund: Yes No X Attachments: X Phone Number: (310) 253 6012 Action Item: Item Number: C 1 Department Approval: Jeff Muir (06/03/13) Chief Financial Officer Approval: Jeff Muir (by M. Noller) (06/05/13) City Attorney Approval: Carol Schwab (by H. Baker) (06/03/13) City Manager Approval: John M. Nachbar (06/05/13) RECOMMENDATION: Staff recommends the City Council adopt a resolution approving and adopting the Annual Appropriations Limit for Fiscal Year 2013/2014. 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 cha...
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