RES 80130 - Laserfiche WebLink

SR 80:125 Page 4 The difference of $1,712,752 between the 1978-79 appropriations subject to limitation for the General Fund and total revenues subject to limitations is the contingency reserve appropriated by the Council in Resolution No. 79-103 of $1,412,779, and the excess of expenditures over revenues in 1978-79 of $299,973. Special Funds The funds that are included in the Special Fund appropriations subject to limitation are as follows: Fund Amount 2106 Gas Tax Fund 2107 Gas Tax Fund County Gas Tax Fund Neighborhood Park Fund Annexation Fees Fund Capital Improvement Fund Total $ 446,853 186,008 297,544 231,243 15,041 173,505 $1,350,194 The revenues of these funds include park dedication fees, annexa- tion fees, gasoline taxes, and the residential construction tax. All other revenues (i.e., water fees, sewer fees, assessment district funds, trust and agency funds, etc.) are exempt from the limitation. This is due to the user fees not exceeding the costs borne by these services. Summar~ Article XIII B of the State of California Constitution (Pro- position 4 on the November 6, 1979 ballot) requires that eech year the governing body of each local agency establish its appropriation limit for the following fiscal year. Generally, the amendment limits the rate of growth in the City's appro- 'priations by the percentage increase (or decrease) in the City's population and in the cost of living. The limit only applies to appropriations financed from the "proceeds of taxes." "Proceeds of taxes" are defined as all tax revenues, any proceeds from the investment of tax revenuest and any revenues from user .fees in excess of the amount needed to cover the reasonable cost of providing the service. The amendment does not limit the growth in appropriations financed from all other sources of revenue.