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Town Council Resolution No. 28-2021 06/16/2021
RESOLUTION NO. 28-2021
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TIBURON ESTABLISHING AN APPROPRIATION LIMIT FOR FISCAL YEAR 2021-22 PURSUANT TO ARTICLE XIII B. OF THE CONSTITUTION OF THE STATE OF CALIFORNIA
WHEREAS, Article XIII B. of the Constitution of the State of California requires
governmental jurisdictions to establish appropriations limits each year, and
WHEREAS, the previously established limit for Fiscal Year 2020-21 was $10,581,513, and the State Department of Finance has determined that the 2021-22 Per Capita Personal Income Factor is 5.73%, and the Population Change Factor is 0.57%; the
Accounting and Finance Manager estimates that legislated pass-through fees of the
County will be $67,054; the Accounting and Finance Manager of the Town of Tiburon has determined that the appropriations limit in the amount of $11,191,117 shall be established for Fiscal Year 2021-22.
NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of
Tiburon that an appropriations limit in the amount of $11,191,117 is established for Fiscal Year 2021-22 pursuant to Article XIII B of the Constitution of the State of California.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town
of Tiburon on June 16, 2021 by the following vote: AYES: COUNCILMEMBERS: Fredericks, Ryan, Thier, Welner NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: One Vacant Seat
______________________________
HOLLI THIER, MAYOR TOWN OF TIBURON ATTEST:
___________________________________ LEA STEFANI, TOWN CLERK
DocuSign Envelope ID: C7210A85-1A6B-4A8F-B2BB-E06D366AB66E
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Town Council Resolution No. 28-2021 06/16/2021
APPROPRIATIONS LIMIT DATA TOWN OF TIBURON
2021-2022 SUMMARY
2020-2021 APPROPRIATIONS LIMT 10,581,513
CALCULATION OF 2021-2022 APPROPRIATIONS LIMIT
1. Annual Change Factors:
Per Capita Personal Income or 573.000%
Non-residential Assessed Valuation plus 0.000%
Tiburon Population or -57.0000%
Marin County Population (whichever is greater)
2. Cumulative Factor: (1 + .0573) X (1 + .00057) 1.05127
3. Annual Adjustment Amount (Last FY Limit X 2.Cumulative Factor) 542,550
4. Property Tax Collection Fees 67,054
2021-2022 APPROPRIATIONS LIMT 11,191,117
2021-2022 ESTIMATED PROCEEDS SUBJECT TO APPROPRIATIONS LIMIT
Property Taxes 5,861,495
ERAF 880,000
Sales & Use Tax 550,000
Sales Tax 80,000
Transient Occupancy Tax 750,000
Real Property Transfer Tax 235,000
Business License Tax 235,000
State Motor Vehicle License Fees 6,750
Refunds & Reimbursements 1,000
Other Revenue 5,000
Rent- Antenna Site 80,270
Interest Earned From Taxes (LAIF) 101,823
TOTAL PROCEEDS SUBJECT TO LIMIT 8,786,338
2021-2022 ESTIMATED LEEWAY 2,404,778
DocuSign Envelope ID: C7210A85-1A6B-4A8F-B2BB-E06D366AB66E