TO: Napa County Flood Control and Water Conservation District
FROM: Tracy Schulze - Auditor-Controller
REPORT BY: Georgina Panganiban - Accountant-Auditor Manager
SUBJECT: 2024-25 Appropriation Limit for Community Facilities District-Oakville to Oak Knoll Maintenance, Monitoring, and Restoration Project
RECOMMENDATION
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Adopt a Resolution establishing the Fiscal Year 2024-25 appropriation limit and estimated revenues subject to the limit for the Community Facilities District-Oakville to Oak Knoll Maintenance, Monitoring, and Restoration Project (CFD OVOK) as required by Article XIIIB of the California Constitution. (No Fiscal Impact; Mandatory)
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BACKGROUND
The annual appropriation limit is calculated in accordance with Article XIIIB of the California Constitution and is the amount the District could spend that is funded by certain taxes and State subventions, while the revenues subject to that limit is the amount of revenue from those sources the District anticipates receiving in the fiscal year. In certain instances when the revenues subject to the limit exceed the appropriation limit, tax revenues are required to be returned to local taxpayers.
On January 6, 2015, the property owners of Napa Flood Control and Water Conservation District Community District No. 2014-01 approved the formation of Napa County Flood Control and Water Conservation Community Facilities District (for the Oakville to Oak Knoll Maintenance, Monitoring, and Restoration Project ("Community Facilities District") setting the appropriation limit for the District at $2,000,000 per fiscal year.
Requested Action:
Adopt a resolution establishing the appropriations limit for fiscal year 2024-25 at $2,000,000, with estimated revenues subject to that limit of $120,010.
FISCAL IMPACT
Is there a Fiscal Impact?
No
Is it currently budgeted?
Yes
Where is it budgeted?
The estimated appropriation limit is considered when preparing the requested budget.
Is it Mandatory or Discretionary?
Mandat...
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