HomeMy WebLinkAboutE- 4 Staff Report GANN LIMITAGENDA ITEM
TO: THE HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: STEVE KENOYER, ACTING FINANCE DIRECTOR
VIA: ROBERT PERSON, ASSISTANT CITY MANAGER
DATE: JUNE 16, 2003
SUBJECT: APPROPRIATIONS LIMIT
RECOMMENDATION
It is recommended that City Council approve the attached resolution adopting the
Appropriations Limit for the 2003/04 fiscal year.
BACKGROUND
The Appropriations Limit is required to be approved by the City Council by July 1st for the
new fiscal year. The Appropriations Limit sets a cap for spending tax proceeds. The City is
under the cap for FY2003/04 by $11,318,283.
FISCAL IMPACT
This resolution sets the FY2003/04 Appropriations Limit at $28,172,593.