HomeMy WebLinkAbout084-98RESOLUTION NO. 84-98
APPROVING THE 1998-2000 FINANCIAL PLAN AND
THE 1998-1999 APPROPRIATION LIMIT
WHEREAS, a draft Financial Plan for fiscal years 1998-2000 was submitted to the Town
Council on May 1, 1998; and
WHEREAS, the Town Council held four public study sessions on May 7, May 14, May 21 and
May 28 and one public hearing on June 3, 1998 to discuss the proposed Financial Plan; and
WHEREAS, the Town Council reviewed and made various revisions to the proposed Financial
Plan; and
WHEREAS, the emphasis in the draft Financial Plan is focused upon maintaining current
program and service levels, with a modest expansion of services levels in certain areas; and
WHEREAS, the draft Financial Plan proposes programmatic service levels which are within the
Town's financial means while reserving funds for capital projects, meeting debt service
obligations, and adequate reserve and contingency levels; and
WHEREAS, the Town Council is required to adopt an appropriation limit for proceeds of taxes;
and
WHEREAS, this limit fixes the amount of general tax revenue that can be appropriated in a
given 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 growth in the non-residential assessed valuation due to new construction within the
Town and the change in Town population as the adjustment factors for 1998-2000; now
therefore, be it
RESOLVED, that the Danville Town Council does hereby adopt the proposed 1998-2000
Financial Plan; and be it further
RESOLVED, that the Danville Town Council does hereby set the fiscal year 1998-1999
appropriation limit at $13,401,853.
APPROVED by the Danville Town Council at a regular meeting on June 3, 1998 by the
following vote:
AYES: Waldo,
NOES: None
ABSTAINED: None
ABSENT: None
Arnerich, Doyle, Greenberg, Shimansky
MAYOR
AS TO FORM:
CITY ATTORNEY ~I"
CITY CLERK
PAGE 2 OF RESOLUTION NO. 84-98