Laserfiche WebLink
<br />REQUEST FOR <br />COUNCIL ACTION <br /> <br />(~.! <br />~~ <br /> <br />\,>d\lcatlOn l~ <br /> <br />CITY COUNCIL MEETING DATE: <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />JUNE 5, 2006 <br />TITLE: <br /> <br />APPROVED <br /> <br />o As Recommended <br />D As Amended <br />o Ordinance on 151 Reading <br />o Ordinance on 2"d Reading <br />D Implementing Resolution <br />D Set Public Hearing For <br /> <br />RESOLUTION ESTABLISHING THE <br />APPROPRIATION LIMIT OF THE <br />CITY OF SANTA ANA FOR <br /> <br /> <br />FY 2006L9~~ <br /> <br />CITY MANAGER <br /> <br />CONTINUED TO <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />Adopt a resolution establishing the appropriation limit for the fiscal <br />year 2006-07 <br /> <br />DISCUSSION <br /> <br />The State of California Constitution includes provisions, which impose a <br />limit ("the Gann Limit") on tax proceeds that may be appropriated for <br />expenditures by a local government in any given fiscal year and requires <br />the cities establish this limit by resolution. Adoption of the subject <br />resolution is necessary for compliance with these provisions for the <br />fiscal year ending June 30, 2007. <br /> <br />As detailed in the exhibits to the subject resolution, the City's spending <br />limitations from "Proceeds of Taxes" is calculated to be $697,830,787 <br />(Exhibit A) for FY 2006-07. This represents the permitted growth rate <br />factor of 20.7438 times the adjusted base year (1978-1978) appropriation <br />limit of $33,640,451. Exhibit B identifies the factors used to determine <br />the allowable increase; Exhibit C categorizes FY 2006-07 anticipated <br />revenues from "Proceeds of Taxes" and "Non-Proceeds of Taxes"; and Exhibit <br />D computes the fiscal year 2006-2007 appropriations subject to this <br />limitation and identifies the difference between the limit and the <br />budgeted appropriation. As demonstrated in Exhibit D the City's <br />anticipated FY 2006-07 "Proceeds of Taxes" revenue will be $631,189,406 <br />below the allowable limit. <br /> <br />FISCAL IMPACT <br /> <br />There is no fiscal impact associated with this action. <br /> <br />~~~~ <br /> <br />A.. ~rancisco Gutierrez <br />IV Executive Director <br />Finance & Management Services Agency <br /> <br />558-1 <br />