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RESOLUTION NO. 66-2008
APPROVING THE 2008-2009 FINANCIAL PLAN AND
THE 2008-2009 APPROPRIATION LIMIT
WHEREAS, a draft Financial Plan for FY 2008-09 was submitted to the Town Council
on May 2, 2008; and
WHEREAS, the Town Council held three public study sessions on May 6, May 13 and
May 20, 2008 to review the proposed Financial Plan; and
WHEREAS, the Town Council accepted public testimony and made various revisions
to the proposed Financial Plan; and
WHEREAS, the emphasis in the Financial Plan is focused upon maintaining current
program and service levels, with selected service level increases in high priority areas;
and
WHEREAS, the 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, sufficient revenues are available to fund all 2008-09 expenditures; and
WHEREAS, the Town Council is required to adopt an appropriation limit for proceeds
of taxes pursuant to Proposition 111 passed by the voters in June 1990; 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, the Town Council has selected the growth in
per capita income and the increase in county population as the adjustment factors for
FY 2008-09; now therefore, be it
RESOLVED, that the Danville Town Council does hereby appropriate funds and adopt
the 2008-2009 Financial Plan; and be it further
RESOLVED, that the Danville Town Council does hereby set the FY 2008-2009
appropriation limit at $25,640,623.
APPROVED by the Danville Town Council at a regular meeting on June 4, 2008 by the
following vote:
AYES: Andersen, Arnerich, Doyle, Shimansky, Stepper
NOES: None
ABSTAINED: None
ABSENT: None
WBTOZ;
CITY ATTORNEY
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