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<br /> 6.20 <br />REPORT Page 1 <br />To the Honorable Mayor and Cily c()unciI: <br /> FromtheCitylVlanager <br /> .', ....._,., ,. <br /> .' , -, - ," <br />June 19,2006 <br />Subject <br />Annual Appropriations Limit for FY 2006/07 <br />Recommendation <br />That the City Council adopt a resolution establishing the Appropriations Limit for the FY <br />2006/07. <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 (for the <br />City or County, whichever is greater) and either the statewide percentage change in per <br />capita personal income or percentage change in assessed valuation attributable to growth <br />in non-residential new construction. <br /> : J I <br />The recommended appropriations limit for FY 2006/07 is $273,586,214 while the limit for <br />FY 2005/06 was $261,543,316. The recommended appropriation for FY 2006/07 is only <br />$54,017,601, well below the $273,586,214 legal limit. <br />The attachment displays the calculations utilized to arrive at this amount. <br />Pitf~ /1L ilt;~ ffxt/ <br /> (Aj!~ ~:. ~~ ~ltr-'~ <br /> - - <br />Brian Ponty Edward Everett <br />Director of Finance and Financial Planning City Manager <br />Attachment <br />Proposition 4 Appropriation Limitations FY 2006/07 <br />