AgdaPkt 2019-06-10 Joint SA PFA - Laserfiche WebLink

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6.M. - Page 2 of 10 ANALYSIS The recommended appropriations limit for FY 2019-20 is $741,875,879, while the limit for FY 2018-19 was $707,019,533. The proposed appropriations connected to the estimated proceeds of taxes for FY 2019- 20 are $110,923,088, well below the $741,875,879 legal limit. The increase from FY 2018-19 is primarily due to a percent change of 3.85 percent in per capita personal income, one of the factors used in calculating the change in the appropriation limit. The attached resolution displays the calculations utilized to arrive at this amount. FISCAL IMPACT There is no fiscal impact associated with adopting the recommended appropriations limit, as the appropriation of the proceeds of taxes is well under the recommended limit. ENVIRONMENTAL REVIEW This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably foreseeable indirect physical change in the environment. PUBLIC NOTICE Public Notification was achieved by posting this report on the City's webpage on the agenda section, on May 24, 2019, fifteen days prior to the meeting in which the limit was adopted. ALTERNATIVES There are no alternatives, as Article X111B of the California State Constitution requires that the State and all local entities adopt an appropriations limit annually. ATTACHMENTS Attachment A: Resolution Establishing Appropriation Limits for FY 2019-20 Attachment B: Documentation used for the Calculation of the Appropriation Limit REPORT PREPARED BY: Sylvia Bravo Peters, Principal Analyst - Finance speters@redwoodcity.org (650) 780-7073 APPROVED BY: Kimbra McCarthy, Assistant City Manager and Administrative Services Director Melissa Stevenson Diaz, City Manager City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore 337