HomeMy WebLinkAbout071-2010
RESOLUTION NO. 71-2010
APPROVING THE 2010/11 FINANCIAL PLAN AND
THE 2010/11 APPROPRIATION LIMIT
WHEREAS, a Financial Plan for FY 2010/11 was submitted to the Town Council on
April 29, 2010; and
WHEREAS, the Town Council held four public study sessions on May 4, May 11, May
18 and May 25, 2010, 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 2009/10 levels in four out of 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 2010/11 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
California per capita income and the increase in population growth within the Town as
the adjustment factors for FY 2010/11; now therefore, be it
RESOLVED that the Danville Town Council does hereby appropriate funds and adopt
the 2010/11 Financial Plan; and be it further
RESOLVED, that the Oanville Town Council does hereby set the FY 2010/11
appropriation limit at $28,484,912.
APPROVED by the Oanville Town Council at a regular meeting on June 15, 2010, by
the following vote:
AYES:
NOES:
ABSTAINED:
ABSENT:
Doyle, Stepper, Andersen, Arnerich, Storer
None
None
None
~~~
APPROVED AS TO FORM:
~13. -.c:
CITY ATTORNEY ')
PAGE 2 OF RESOLUTION NO. 71-2010