HomeMy WebLinkAbout075-04RESOLUTION NO. 75-2004
APPROVING THE 2004-2006 FINANCIAL PLAN AND
THE 2004-2005 APPROPRIATION LIMIT
WHEREAS, a draft Financial Plan for FY 2004-2006 was submitted to the Town Council on
May 7, 2004; and
WHEREAS, the Town Council held four public study sessions on May 11, May 18, June 1,
and June 8, 2004 and one public hearing on June 15, 2004 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, 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 per capita income and the increase in county population as the
adjustment factors for FY 2004-05; now therefore, be it
RESOLVED, that the Danville Town Council does hereby appropriate funds and adopt the
proposed 2004-2006 Financial Plan; and be it further
RESOLVED, that the Danville Town Council does hereby set the FY 2004-2005
appropriation limit at $20,540,449.'
APPROVED by the Danville Town Council at a regular meeting on June 15, 2004 by the
following vote:
AYES: Arnerich,
NOES: None
ABSTAINED: None
ABSENT: None
Doyle, Andersen, Shimansky, Stepper
MAYOR
APPROVED AS TO FORM:
CITY ATTORNEY ~
ATTEST:~
CITY CLERK
PAGE 2 OF RESOLUTION NO. 75-2004