CC Resolution No. 16-063 Establishing and Adopting the Appropriation Limit for Fiscal Year 2016-17RESOLUTION NO. 16-063
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ESTABLISHING AND ADOPTING THE APPROPRIATION
LIMIT FOR FISCAL YEAR 2016-17
WHEREAS, the State of California has adopted legislation reqmrmg local
jurisdictions to calculate their appropriation limits in complying with Article XIII B; and
WHEREAS, said limits are determined by a formula based upon change in
population, (city or county), combined with either the change in inflation (California
per capita income) or the change in the local assessment roll due to local nonresidential
construction; and
WHEREAS, the local governing body is required to set an appropriation limit by
adoption of a resolution; and
WHEREAS, the city/county population percentage change over the prior year is
.25 % /1.26 % respectively, and the California per capita personal income change is
5.37%.
In computing the 2016-17 limit, the City Council has elected to use the county
population percentage change along with the California per capita income change, but
the Council has a right to use the non-residential assessed valuation percentage change
when the figure is available.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Cupertino hereby approves a 2016-17 fiscal appropriation limit of $91,867,014.
PASS ED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 6th day of June, 2016, by the following vote:
AYES :
NOES:
ABSENT:
ABSTAIN:
ATTEST:
Members of the City Council
Chang, Vaidhyanathan, Paul, Wong
None
Sinks
None
APPROVED:
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Grace Schmidt, City Clerk