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55A - RESO - APPROPRIATION LIMIT FY 08-09
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55A - RESO - APPROPRIATION LIMIT FY 08-09
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Last modified
1/3/2012 4:30:06 PM
Creation date
7/2/2008 11:27:22 AM
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City Clerk
Doc Type
Agenda Packet
Item #
55A
Date
7/7/2008
Destruction Year
2013
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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JULY 7, 2008 <br />TITLE: <br />RESOLUTION ESTABLISHING THE <br />APPROPRIATION LIMIT OF THE CITY <br />OF SANTA ANA FOR <br />FY 2008-09 <br />CIT MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 15t Reading <br />^ Ordinance on 2"d Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution establishing the appropriation limit for the fiscal <br />year 2008-09. <br />DISCUSSION <br />The State of California Constitution includes p <br />limit ("the Gann Limit") on tax proceeds that <br />expenditures by a local government in any given <br />the cities establish this limit by resolution. <br />resolution is necessary for compliance with these <br />year ending June 30, 2009. <br />rovisions, which impose a <br />may be appropriated for <br />fiscal year and requires <br />Adoption of the subject <br />provisions for the fiscal <br />As detailed in the exhibits to the subject resolution, the City's spending <br />limitations from "Proceeds of Taxes" is calculated to be $774,127,330 <br />(Exhibit A) for FY 2008-09. This represents the permitted growth rate <br />factor of 23.0118 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 2008-09 anticipated <br />revenues from "Proceeds of Taxes" and "Non-Proceeds of Taxes"; and Exhibit <br />D computes the fiscal year 2008-2009 appropriations subject to this <br />limitation and identifies the difference between the limit and the budgeted <br />appropriation. As demonstrated in Exhibit D the City's anticipated FY 2008- <br />09 "Proceeds of Taxes" revenue will be $632,289,301 below the allowable <br />limit. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />~G,G~z~u - <br />Pamela Arends-King <br />Assistant Director <br />Finance & Management Services Agency~~ <br />55A-1 <br />
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