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REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> <br />Januaw28,2002 <br /> <br />Subject <br />Annual Appropriations Limit for FY 2001/02 <br /> <br />Recommendation <br />That the City Council adopt a resolution establishing the Appropriations Limit for the fiscal <br />year 2001/02. <br /> <br />Background <br />In 1979 the voters of the State of California passed Proposition 4, the Gann spending limit <br />initiative. The initiative establishes and defines annual appropriation limits for state and <br />local government entities and requires that the City adopt an appropriations limit annually. <br />Moreover, the initiative provides for annual adjustments for changes in population, and <br />either the statewide percentage change in per capita personal income or percentage <br />change in assessed valuation attributable to growth in non-residential new construction. <br /> <br />The recommended appropriations limit for 2001/02 is $89,403,662 while the limit for <br />2000/01 was $79,512,328. The actual appropriations subject to the limit is $53,515,313. <br /> <br />The attachment displays the calculations utilized to arrive at this amount. <br /> <br />Brian Ponty Edw <br />Director of Finance and Financial Planning City Manager <br /> <br />Attachment <br />Proposition 4 Appropriation Limitations Fiscal Year 2001/02 <br /> <br /> <br />