HomeMy WebLinkAboutCity Council Resolution 05-040RESOLUTION NO.OS-040
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SARATOGA ESTABLISHING THE FISCAL YEAR 2005-06
GANN LIMIT APPROPRIATION FOR THE CITY OF SARATOGA
WHEREAS, the City of Saratoga has established its Based Year Appropriation
Limit as $5,961,747 in fiscal year 1978-79; and
WHEREAS, the cumulative changes to population and to the California per capita
personal income since the Base Year established the revised Proposition 111 Fiscal Year
2004-2005 Appropriation Limit as 24,471,983, and
WHEREAS, to the best of the City's knowledge and believe, the State
Department of Finance figures provided to the City in response to Proposition 111 passed
by the voters in June 1990, reflect the appropriate statistics relevant to the calculation of
the fiscal year 2005-06 Appropriation Limit, which includes:
• Population adjustments for the year ended December 31, 2004 equal to 1.24% and
• Per Capita Change in California personal income determined for fiscal year 2005-
06 equal to 5.26%
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of
Saratoga hereby resolves that, based on the foregoing figures and the provisions of the
Article XIIIB of the Constitution of the State of California, the following figure
accurately represents the fiscal year 2005-2006 Appropriation Limit for the City of
Saratoga: $26,078,624
The above and foregoing resolution was passed and adopted at a regular meeting of the
Saratoga City Council held on the ls~ day of June 2005 by the following vote:
AYES: Councilmembers Aileen Kao, Nick Streit, Ann Waltonsmith,
Vice Mayor Norman Kline, Mayor Kathleen King
NOES: None
ABSENT: None
ABSTAIN: None
Kathleen M K g, Mayor o
FY 2005-2006 Ado ted Tax Revenues
Property Tax 3,412,900
Property Tax -Supplemental 98,900
State Take Away (260,100)
Sales Tax 788,100
Triple Flip 216,400
Transient Occupancy Tax 146,100
Franchise Tax 946,300
Business License Tax 317,600
Documentary Transfer Tax 438,200
Construction Tax 250,000
Subtotal 6,354,400
Propert Tax - in lieu of VLF 1,803,100
Total Tax Revenues 8,157,500
(26,078,624
(19,724,224)
-24%
FY 2005-2006 Adopted Tax Revenues
excludin Pro ert Tax - in lieu of VLF)
Property Tax 3,412,900
Property Tax - in lieu of VLF -
Property Tax -Supplemental 98,900
State Take Away (260,100)
Sales Tax 788,100
Triple Flip 216,400
Transient Occupancy Tax 146,100
Franchise Tax 946,300
Business License Tax 317,600
Documentary Transfer Tax 438,200
Construction Tax 250,000
Total Tax Revenues 6,354,400
26,078,624
2003-04 2004-05
2,929,700 3,219,800
90,800 90,000
(260,100)
895,000 816,900
- 208,100
149,300 144,000
983,600 973,200
282,600 290,600
434,400 434,400
262,100 262,100
- 1,701,100
6,027,500 6,179,000
2003-04 2004-05
2,929,700 3,219,800
90,800 90,000
(260,100)
895,000 816,900
- 208,100
149,300 144,000
983,600 973,200
282,600 290,600
434,400 434,400
262,100 262,100
6,027,500 6,179,000
(19,724,"2Z4)
-24%