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RESOLUTION NO. 65-2009
APPROVING THE 2009/10 FINANCIAL PLAN AND
THE 2009/10 APPROPRIATION LIMIT
WHEREAS, a Financial Plan for FY 2009/10 was submitted to the Town Council on
May 1, 2009; and
WHEREAS, the Town Council held three public study sessions on May 5, May 12 and
May 26, 2009 to review the proposed Financial Plan; and
WHEREAS, the Town Council accepted public testimony and studied the proposed
Financial Plan; and
WHEREAS, the emphasis in the Financial Plan is focused upon maintaining current
program and service levels to the extent that is possible in the current economic
recession; and
WHEREAS, the Financial Plan compensates for lower revenues by reducing
expenditures below 2008/09 levels in all five Town operating departments; 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 2009/10 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
assessed value of non-residential construction and the increase in the county population
as the adjustment factors for FY 2009/10; now therefore, be it
RESOLVED, that the Danville Town Council does hereby appropriate funds and adopt
the 2009/10 Financial Plan; and be it further
RESOLVED, that the Danville Town Council does hereby set the FY 2009/10
appropriation limit at $28,894,993.
APPROVED by the Danville Town Council at a regular meeting on June 16, 2009, by
the following vote:
AYES: Arnerich, Doyle, Andersen, Shimansky, Stepper
NOES: None
ABSTAINED: None
ABSENT: None
APPROVED AS TO FORM:
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CITY ATTORNEY I-
ATTEST:
PAGE 2 OF RESOLUTION NO. 65-2009