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1991-92 OPERATING BUDGET <br /> Proposition 4 Analysis <br /> ACTUAL ADJUSTED PROJECTED <br /> 1989/90 1990/91* 1991/92 <br /> PROPOSITION 4 LIMIT $27,780,185 $52,803,755 $59,858,337 <br /> REVENUES SUBJECT TO THE <br /> LIMIT $23,986,728 $26,167,500 $27,549,025 <br /> LESS EXCLUSIONS: <br /> QUALIFIED CAPITAL OUTLAY N/A $ 1,012,114 $ 1,178,071 <br /> QUALIFIED DEBT SERVICE ** ** ** <br /> NET APPROPRIATIONS SUBJECT <br /> TO LIMIT $23,986,728 $25,155,386 $26,370,954 <br /> CPI FACTOR 5.00% N/A N/A <br /> POPULATION FACTOR 7.70% 6.34% 2.23% <br /> RATIO OF INCREASE IN NON- <br /> RESIDENTIAL ASSESSED VALUE <br /> TO INCREASE IN TOTAL <br /> ASSESSED VALUE N/A 11.55% 10.89% <br /> * The 1990-91 Appropriation Limit was amended by the City Council on <br /> June 18, 1991, in accordance with the provisions of Proposition 111, <br /> which was approved by the voters on June 5, 1990. <br /> ** Recently two Appellate Courts have disagreed over whether payments <br /> into an employee retirement fund qualify as debt service. This issue is <br /> expected to be resolved by the Supreme Court at some time in the future. <br /> The City's contributions to the employees' retirement fund are as <br /> follows: <br /> ACTUAL ADJUSTED PROJECTED <br /> 1989/90 1990/91 1991/92 <br /> $2,270,000 $2,620,000 $3,050,000 <br /> (budprop) <br />