HomeMy WebLinkAboutAgenda Report - June 17, 1987 (74)DUNCIL CO 1 MUNICATI _. 4
TO THE CITY 'COUNCIL
FRONv THE CITY MANAGER'S OFFICE
SUBJKT. I9ti7-88 APPROPRIATIONS SPENDT'TG LIMIT
DATE ,lune 17, 1987 i NO.
RECOMMENDED ACTION. That the Lodi City Council set the 1987-88
Appropriations pending Limit at $24,677,859.
BACKGROUND HISTORY: Article XIIIS 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 (+5.72x) and Consumer Price Index (+3.04').
The revised 1986-87 Limit of $22,654,787, increased by population and
Consumer Price Index, yields a 1987-88 Spending Limit of $24,677,859.
(1,0572) (1.0304) = 1.0893
(1.0893) ($22,654,787) = $24,677,859
Robert H. Ho In
Finance Director
RHH/ss
attachment
CCFUNDS/TXTF.06S
RESOLUTION NO. 87-65
RESOLUTION ADOPTING AN APPROPRIATIONS SPENDING
LIMIT FOR 1987-88 IN COMPLIANCE W117H PROPOSITION 4
ARTICLE XIII6 OF THE CALIFORNIA STATE CONSTITUTIOP'
RESOLVED, that the City Council of the City of Lodi does hereby adopt
the following Appropriations Spending Limit for 1987-88 in compliance
with Proposition 4, now Article X1IIB of the California State
Constitution:
Total appropriations Spending
Limit for 1986-87 as adopted by
the City of Lodi $22,654,787
growth and U.S. Consumer Price
Index of 8.93%
Therefore, the Appropriations
Spending Limit for 1987-88 $24,677,859
Doted: ,lune 17, 1987
I hereby certify that Resolution No. 87-65 was passed
and adopted by the City Council of the City of Lodi
in a regular meeting held .lune 17, 1987, by the
following rote:
Ayes: Council Members - Hinchman, Pinke Lon, Reid,
Snider, and Olson (Mayor)
Noes: Council Members - None
,'absent: Council Members - None
Yh
Alice M. Reimche
City Clerk