HomeMy WebLinkAboutTC Res 2020-07-01 (4) RESOLUTION NO. 29-2020
� A R�SOLU'TION OF TI�� TOWN COUNCIL
OF Tl��� TOWN OF TIBURON �STABLISHING
AN APYROPRIATION LIMIT FOR FISCAL YEAR 2020-21
PURSUANT TO ARTICL� XI11 B. OF THE CONSTITUTION
OF 1'H� STA"TI. OF CALIFORNIA
WHEREAS, Article XIII B. of the Constitution of the State of California requires
goveriuneiltal jurisdictio�ls to establish appropriations limits eac11 year, and
WIIEREAS; the previously established linlit for Fiscal Year 2019-20 was
$10,142,889 and tl�e State Departmcnt of�inance has determiiled that the 2020-21 Per
Capita Personal Income Factor is 3.73%, and the Populatiarl Change Factor is -0.043%;
the Accounting and I'inance Manager estimates that le;islated pass-through fees of the
County w�ll be $64,818: tlle Accountinb and Finance Man�ger• of the Town of Tiburon
has deternlined that tl�� appi-opi•iations limit in tlle amotult of$10,581,513 shall be
established for Fisca] Year 2020-21.
NOW; TI-IEKEFORE, BE IT RESOI,VED by the Town Council of the Town of
Tiburon that an appropriations limit in the amount of$10,581,513 is establislled for
Fiscal Year 2020-21 ptu�suant to Article XIII B of the Constitution of the State of
California.
PASSED AND ADOPTED at a regular meetin� of the Town Council of the Town
of Tiburon on July 1, 2020 by the followin� vote:
AYES: COtTNCILMEMBERS: Fi-edei-iel<s, Kulik, Ryan, Thier, Wclner
NO�S: COUNCILM�MBERS: None
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y" % fJ .�,�`
ALICE FRED�" ICKS. MAYOR
A I'TEST:
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�A S , �ANI TOWI� CLERK
Page 1 0�'2
'I'oi�n��Councl!Resnli�lion No. 29-2020 07/01/2020
APPROPRIATIONS LIMIT DATA TOWN OF TIBURON
2020-2021 SUMMARY
2019-2020 APPROPRIATIONS LIMT 10,142,889
CALCULATION OF 2020-2020 APPROPRIATIONS LIMIT
1. Annual Chan e Factors:
Per Ca ita Personal Income or 3.730%
Non-residential Assessed Valuation plus 0.000%
Tiburon Po ulation or -0.043%
Marin Count Po ulation (whichever is greater)
2. Cumulative Factor: 1 + .0373 X 1 + .00043 1.03685
� —�--�_------�--
3. Annual Ad�ustment Amount (Last FY Limit X 2.Cumulative Factor 373,806
4. Pro ert Tax Collection Fees 64,818
' 2020-2021 APPROPRIATIONS LIMT 10,581,513
2020-2021 ESTIMATED PROCEEDS SUBJECT TO APPROPRIATIONS
LIMIT
Pro ert Taxes 5,640,635
ERAF 675,000
Sales & Use Tax 400,000
Sales Tax 63,450
Transient Occu anc Tax 466,686
Real Pro ert Transfer Tax 180,000
Business License Tax 240,000
State Motor Vehicle License Fees 6,500
Refunds & Reimbursements 1,000
Other Revenue 5,500
Rent-Antenna Site 78,005
interest Earned from Taxes (LAIF) 221,839
TOTAL PROCEEDS SUBJECT TO LIMIT 7,978,615
2020-2021 ESTIMATED LEEWAY 2,602,898
Puge 2 qf 2
To�a�i�Covi�cil Re.solution No. ?9-2020 07/O1/2020