During their 1 p.m. discussion session today, the Riverside City Council is being asked to make public the information used by the city Finance Department to develop the Annual Appropriations Limit of $380 million.
This Appropriation Limit is the maximum limit of proceeds from taxes Riverside may collect or spend each year. The limit, as stipulated by the Gann Initiative of 1979, is figured by determining appropriations financed by proceeds from taxes in Fiscal Year (FY) 1978-79, then adjusting the limit in subsequent years according to change in costs of living and population fluctuation.
The City Council will be asked to officially adopt the final, Annual Limit at the end of the month.
Charter Review Committee
The Charter Review Committee is getting closer to narrowing in proposed, charter amendment language regarding the near $40 million General Fund Transfer. At 5 p.m. tomorrow, the committee will review the language and provide any revisions as necessary.
Their final recommendations are due to the City Council by the 16th of this month.