HomeMy WebLinkAboutCC AG PKT 2003-07-14 #L � s
AGENDA REPORT
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DATE: July 14, 2003
TO: Honorable Mayor and City Council
THRU: John B. Bahorski, City Manager
FROM: Pamela Arends -King, Director of Administrative Services/Treasurer
SUBJECT: FY 2003/04 GANN Appropriations Limit
SUMMARY OF REQUEST:
Staff requests council adopt the resolution approving the fiscal year 2003/04 GANN
Appropriations Limit calculation.
BACKGROUND:
The voters of California approved Article XII -B of the California State constitution also
known as Proposition 4, or the "Gann Initiative ". The proposition restricts the total
amount of appropriations allowed in any given fiscal year from the "proceeds of taxes ".
In 1980, the Sate Legislature added a section of the Government Code that required the
governing body of each local jurisdiction to establish, by resolution, an appropriations
limit for the following year. The appropriations limit for any fiscal year was equal to the
previous year's limit, adjusted for population changes and the change in the U.S.,
Consumer Price Index or California per Capita Personal Income if smaller.
Attached is the fiscal year 2003 -04 appropriations limit calculation. The appropriations
limit for fiscal year 2003 -04 is $16,767,743. This amount is $5,806,516 higher than the
appropriations subject to the Limit.
FISCAL IMPACT:
There is no fiscal impact to the General Fund.
Agenda Item L
1
RECOMMENDATION:
Staff recommends council adopt the resolution approving the fiscal year 2003 -04 GANN
Appropriations Limit calculation.
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Pamela Arends -King
Director of Administrative Services/Treasurer
j 11 i ll , APPR • ' D
Joh :. Bahorski
C' anager
1
City of Seal Beach
Appropriations Limit
FY 2003 -2004
Amount
A. Last Years' Limit 16,226,885
B. Change in CPI ** 1.0100%
C. Change in Population: ** 1.0231 %
D. Ration of Change (1.0100 x 1.0231) 1.0333
E. 2003 -2004 Appropriations Limit: 16,767,743
($16,226,885 x 1.0333)
** These amounts were obtained from the State of California, Department of Finance as applicable
in setting the 2003 -2004 Appropriations Limitation.
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