HomeMy WebLinkAboutAgenda Report - June 21, 1989 (41)C O 1 N C I L
TO: THE CITY COUNCIL
F'RaM- THE CITY MANAGER'S OFFICE
C O M M U N I C A T 1 0 N
SUBJECT: 1989-90 APPROPRIATION SPENDING LIMIT
COUNCIL MEETING DATE: JUNE 21, 1989
RBCOM'4 MED ACTION: That the Lodi City Council set the 1989-90 Appropriations Spending
Limit at $28,972,499.
BACKGROUND HISTORY: Article XIIIB of the California State Constitution specifies that an
annual Appropriations Spending Limit shall be established.
The Spending Limit shall be adjusted each year by the changes in population (+2.52%) and
Consumer Price Index (+4.98%) .
The 1988-89 Limit of $26,918,609, increased by population and Consumer Price Index, yields
a 1989-90 Spending Limit of $28,972,499.
(1.0232) (1.0498) = 1:0763
(1.0763) ($26,918,609) _ $28,972,499
rpt H. -Holm
Finance Director
RHH/ss
Attachment
APPSPNDG/TXTF.06S
Approved:
Thomas A. Peterson
City Manager
RESOLUTION NO. 89-69
RESOLUTION ADOPTING Ail APPROPRIATIONS SPENDING
LIMIT FOR 1989-90 IN COMPLIANCE WITH PROPOSITION 4
ARTICLE XIIIB OF THE CALIFORNIA STATE CONSTITUTION
RESOLVED, that the City Council of the City of Lodi does hereby adopt
the following Appropriations Spending Limit for 1989-90 in compliance
with Proposition 4, now Article XIIIB of the California State
Constitution:
Total Appropriations Spending
Limit for 1988-89 as adopted by
the City of Lodi $26,918,609
Increased by allowable accumulated
growth and U.S. Consumer Price
Index of 7.63%
Therefore, the Appropriations
Spending Limit for '.989-90 $28,972,499
Dated: June 21, 1989
I hereby certify that Resolution No. 89-69 was passed and adopted by
the City Council of the City of Lodi in a regular meeting held June
21, 1989 by the following vote: '
Ayes: Council Members - Olson, Pinkerton, Reid and Snider (Mayor)
Noes: Council Members - None
Absent: Council Members - Hinchman
Alice M. Reimche
City Clerk
89-69