HomeMy WebLinkAbout059-01RESOLUTION NO. 59-2001
APPROVING THE 2001-2002 FINANCIAL PLAN AND
THE 2001-2002 APPROPRIATION LIMIT
WHEREAS, a draft Financial Plan for fiscal years 2001-2002 was submitted to the Town
Council on May 4, 2001; and
WHEREAS, the Town Council held four public study sessions on May 8, May 15, May 22 and
May 29 and one public hearing on June 5, 2001 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 service 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, it is appropriate to readopt the appropriation limits for fiscal years 1998-1999
through 2000-2001; 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 California Per Capita Income and the increase in Town population as the
adjustment factors for 2001-2002; now therefore, be it
RESOLVED, that the Danville Town Council does hereby adopt the proposed 2001-2002
Financial Plan; and be it further
RESOLVED, that the Danville Town Council does hereby readopt the appropriation limits for
fiscal year 1998-1999 at $13,992,691; for fiscal year 1999-2000 at $14,892,817; and for fiscal
year 1999-2000 at $15,860,290; and be it further
RESOLVED, that the Danville Town Council does hereby set the fiscal year 2001-2002
appropriation limit at $18,101,660.
APPROVED by the Danville Town Council at a regular meeting on June 5, 2001 by the
following vote:
AYES:
NOES:
ABSTAINED: NONE
ABSENT: NONE
DOYLE, WALDO, ARNERICH, GREENBERG, SHIMANSKY
APPROVED AS TO FORM:
CITY ATTORNEY
CITY CLERK
PAGE 2 OF RESOLUTION NO. 59-2001