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Home My WebLink About34-17 RESOLUTION 34-17 A RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HILLS ADOPTING THE FISCAL YEAR 2017-18 APPROPRIATION LIMIT, AND 2017-18 APPROPRIATIONS AND INTER-FUND TRANSFERS WHEREAS, the City Council of the Town of Los Altos Hills has received and completed its review of the proposed 2017-18 Operating and Capital Budget; and WHEREAS, the City Council of the Town of Los Altos Hills now desires to adopt the Appropriations Limit, Appropriations and Inter-fund Transfers for fiscal year 2016-17. NOW THEREFORE, the City Council of the Town of Los Altos Hills does hereby resolve as follows: 1. The City Council does hereby approve and adopt an appropriations limit, pursuant to California Constitution Article XIII B, for fiscal year 2017-18 of$6,771,228 as set forth in Exhibit 1A: GANN Appropriation Limit Calculation. 2. The City Council does hereby approve and adopt the Town's budget of$17,967,520 for fiscal year 2017-18 consisting of appropriations and inter-fund transfers as set forth in Exhibit 1B of the Fiscal Year 2017-18 Operating and Capital Budget. 3. The amount of the 2017-18 fiscal year budget for each account area of the budget may be drawn upon in the form of warrants issued for payment of demands and certified in accordance with the provisions of California Government Code Section 37208 and 37209. 4. The City Manager is hereby authorized to prepare an administrative budget which further specifies the accounts for the expenditure of appropriations approved by the City Council and set forth in GANN Appropriation Limit Calculation section. The City Manager shall provide the Council with copies of this budget. 5. The City Manager shall periodically report to the City Council the amount and classification of revenues received and expenditures made. 6. A copy of the adopted budget, signed by the Mayor and attended to by the City Clerk, shall be kept on file with the City Clerk of the Town of Los Altos Hills, as the official budget of the Town of Los Altos Hills for the 2017-18 fiscal year. The above and foregoing Resolution was passed and adopted by the City Council of the Town of Los Altos Hills at a regular meeting held on the 15th day of June 2017 by the following vote: AYES: Waldeck, Radford, Corrigan, Spreen, Wu NOES: None ABSTAIN: None ABSENT: None Resolution 34-17 Page 1 / /# i BY: Gary Waldeck, Mayor ATTEST: _le• %'moi Deborah Padovali, City Clerk Resolution 34-17 Page 2 Town of Los Altos Hills Exhibit 1A Appropriations Limit Calculation for Fiscal Year 2017-18 A. Calculation of 2016-17 Appropriations Limit Prior Year Appropriation Limit $ 6,477,791 Annual Change Factors Cost of living adjustment factors California per capita personal income(CPCPI) 1.0369 Population adjustment factors Town of Los Altos Hills(LAH) 1.0059 County of Santa Clara(SCC) 1.0081 Authorized Adjustment Factor CPCPI X LAH Population change 1.0453 2016-17 Appropriation Limit as adjusted Prior year limit x Authorized Adjustment Factor $ 6,771,228 B. 2016-17 Estimated Tax Proceeds Subject to Appropriations Limit Property taxes Current secured and unsecured $ 4,312,000 In-lieu of vehicle license fees&triple flip 1,045,800 Supplemental taxes 139,900 Homeowner's property tax exemption 19,500 Subtotal all property taxes $ 5,517,200 Other Taxes General sales tax $ 75,600 Property transfer taxes 225,100 Business tax 211,000 Public safety sales tax 50,900 Subtotal all other taxes $ 562,600 Total estimated tax proceeds subject to appropriations limit $ 6,079,800. C. 2016-17 Appropriations Subject to Limit Appropriations supported by tax proceeds(net of user fees and reimbursements) Administration $ 1,893,447 Committees and Grants 253,494 Public Safety 1,369,891 Planning, Building, Engineering 2,088,191 Parks&Recreation 526,140 Total appropriations subject to limit $ 6,131,163 D. Over(Under)Appropriations Limit Appropriations limit as adjusted $ 6,771,228 Total appropriations subject to limit 6,131,163 Appropriations Over(Under)Appropriations Limit $ (640,065) -9 Resolution 34-17 Page 3 Town of Los Altos Hills Exhibit 1B Town-wide Fund Summary Projected 2017/18 Proposed Budget Estimated Fund Balance Fund Balance Fund No Fund Title @ 7/1/2017 Revenue Expenditure Transfers In/Out @ 6/30/2018 011 General Fund 3210 Operating Contingency 350,000- 350,000 3204 Disaster Contingency 1,250,000 1,250,000 3203 Pension Reserve 570,000I 1,000,000 1,570,000 3205 IT Reserve 20,000 5,000 25,000 3206 Private/Public Road 200,000 200,000 3207 Risk Management Reserve 80,000 80,000 Unassigned Fund Balance 9,543,125 11,695,074 (9,074,866) (2,915,544) 9,247,789 Subtotal 12,013,125 11,695,074 (9,074,866) (1,910,544) 12,722,789 Special Revenue Funds 012 Storm Drain Operation - - - - - 013 Pathways Operation - - - - - 016 Parks&Rec in-Lieu 68,590 50,000 - (117,167) 1,423 017 Street Fund - - - - - 021 COPS Fund (0) 100,000 (433,292) 333,292 (0) 071 Special Donation 21,132 - - - 21,132 Subtotal 89,722 150,000 (433,292) 216,125 22,555 Debt Service Funds 033 CA Energy Commission Loan - - - - - 034 CA Energy Loan 003-09-ECD - - - - - Subtotal - - - - - Capital Funds 041 General CIP 100,751 - (144,567) 144,567 100,751 042 Pathways CIP 243,380 181,787 (90,000) - 335,167 043 Westwind Barn CIP 102,707 46,611 (140,000) - 9,318 045 Drainage CIP 510,363 152,807 - (60,200) 602,970 046 Street CIP 65,682 289,948 (1,900,000) 1,610,052 65,682 ' Subtotal 1,022,883 671,154 (2,274,567) 1,694,419 1,113,888 Sewer Funds 048 Sewer CIP - - (900,000) 900,000 - 051 Sewer Ops-Exclu Depr. 1,095,731 3,131,303 (2,296,884) (900,000) 1,030,150 Subtotal 1,095,731 3,131,303 (3,196,884) - 1,030,150 Total Town-Wide 14,221,461 15,647,530 (14,979,609) - 14,889,382 Resolution 34-17 Page 4