HomeMy WebLinkAbout62-16 RESOLUTION 62-16
A RESOLUTION OF THE CITY COUNCIL OF THE TOWN
OF LOS ALTOS HILLS ADOPTING THE FISCAL YEAR
2016-17 APPROPRIATION LIMIT of$6,477,791
WHEREAS, the City Council of the Town of Los Altos Hills has adopted an appropriation limit
for fiscal year 2016-17 of$6,488,680 on June 16, 2016; and
WHEREAS, the 2015-16 appropriation limit is recalculated with the correct population factor,
resulting in a reduction in the appropriation limit by $10,205; and
WHEREAS, the revision in the 2015-16 appropriation limit impacts the "Prior Year
Appropriation Limit"used to calculate the 2016-17 appropriation limit.
NOW THEREFORE, the City Council of the Town of Los Altos Hills does hereby resolve to
approve and adopt an appropriations limit, pursuant to California Constitution Article XIII B, for
fiscal year 2016-17 of$6,477,791 as set forth below:
A. Calculation of 2016-17 Appropriations Limit
Prior Year Appropriation Limit (Revised) $ 6,071,165
Annual Change Factors
Cost of living adjustment factors
California per capita personal income(CPCPI) 1.0537
Population adjustment factors
Town of Los Altos Hills (LAH) 1.0073
County of Santa Clara (SCC) 1.0126
Authorized Adjustment Factor
CPCPI X LAH Population change 1.0670
2016-17 Appropriation Limit as adjusted
Prior year limit x Authorized Adjustment Factor $ 6,477,791
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 20th day of October, 2016 by the following vote:
AYES: Harpoothan, Waldeck, Corrigan, Radford, Spreen
NOES: None
ABSTAIN: None
ABSENT: None
BY: - )
Jdhn Har ootli , Mayor
ATTEST:
Deborah Padovan, City Clerk
Resolution 62-16 Page I