HomeMy WebLinkAbout122-91RESOLUTION NO. 122-91
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF DANVILLE
ADOPTING THE 1991-92 FINANCIAL PLAN AND SETTING
THE 1991-92 APPROPRIATION LIMIT
WHE~, the Town Council adopted Resolution No. 135-90 on June 19,1991, approving
a two year financial plan for the fiscal years beginning July 1, 1990 and ending June 30,
1992; and
WHEREAS, the Town Council adopted Resolution No. 67-91 on April 2, 1991, approving
operating expenditure reductions in the amount of $361,042 for fiscal year 1991-92; and
WHEREAS, the Town Council has conducted two study sessions on May 29, 1991 and
June 13, 1991 to discuss the proposed financial plan for 1991-92; and
WHEREAS, the Town Council has determined that further reductions in operating
expenditures are necessary due to a reduction in revenues received from the state, a
reduced population and a slowdown in the economy; and
WHEREAS, these further reductions in operating expenditures total $318,136, and are
detailed in Exhibit A to this resolution; and
WHEREAS, the Town is required to adopt an appropriation limit for proceeds of taxes;
and
WHEREAS, this limit fixes the amount of general tax revenue which may be appropriated
in a single fiscal year; and
WHEREAS, any excess revenue must be returned to the taxpayers; and
WHEREAS, pursuant to Proposition 111 passed by the voters in June 1990, the Town has
selected the California Per Capita Income and Town Population Changes as the
adjustment factors for 1991-92; and
NOW, THEREFORE BE IT RESOLVED, that the Town Council of the Town of Danville does
hereby adopt the 1991-92 Financial Plan as amended by Exhibit A, approving total
expenditures of $10,970,337 for the fiscal year; and
BE IT FURTHER RESOLVED, that the Town Council of the Town of Danville does hereby
set the 1991-92 fiscal year appropriation limit at $7,875,385.
PASSED, APPROVED AND ADOPTED this second day of July, .1::)91 by the following vote:
AYES: GREENBERG, LANE, RITCHEY, SCHLENDORF, SHIMANSKY
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
C~~..#~~
MAYOR
ATTEST:
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APPROVED AS TO FORM:
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CITY A ORNEY
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