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SR 80:125 <br />Page 3 <br /> <br />Special Funds <br /> <br />Total Appropriations in 1978-79 <br /> Less Non-Proceeds of Taxes <br /> 1978-79 Appropriations Subject to Limitation <br /> Plus 8.14% <br /> 1979-80 Appropriation Limit <br /> Plus 12.02% <br /> 1980-81 Appropriation Limit <br /> <br />$1,457,794 <br />107,600 <br />1,350,194 <br />109,906 <br />1,460,100 <br />175,504 <br />$1,635,604 <br /> <br />The 1979-80 appropriatfon limit is shown in the chart <br />illustrate the compounding of the percentage increase in the <br />population and cost of'living. The amendment is not effective <br />until fiscal year 1980-81. <br /> <br />General Fund <br /> <br />Article XIII B limits the growth in appropriations financed <br />from "proceeds of taxeS." "Proceeds of taxes" are defined as <br />all tax revenues, any proceeds from the investment of tax revenues, <br />and any revenues from license fees and users fees in excess of <br />the amount needed to cover the reasonable cost of providing the <br />service. The amendment does not limit the growth in appropriations <br />financed from all other sources of revenue including federal <br />fundst state grants, user fees that do not exceed the cost of <br />providing the service (i.e. recreation fees, building fees, <br />animal license fees, planning fees, etc.) and the interest <br />income from the investment from these funds. <br /> <br />Therefore, the 1978-79 General Fund appropriations subject to <br />limitation consists of the following revenues: <br /> <br />Source Amount <br /> <br />Property Taxes <br />Sales Tax <br />Motel Tax <br />Franchise Tax <br />Business License Tax <br />State Subventions <br />Interest Income - Proceeds of Taxes <br /> <br />$1,033,141 <br /> 802,709 <br /> 20,605 <br /> 128,462 <br /> 58,478 <br /> 1,290,227 <br /> 194,688 <br /> <br />$3,528,310 <br /> <br /> <br />