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<br />R" -'t!' ":p" O. :,.. ':fl.'. .T'. <br />. "". ." . <br />. ... . <br /> <br />6.28 <br />Page 1 <br /> <br /> <br />June 15, 2009 <br /> <br />SUBJECT <br />Annual Appropriations Limit for Fiscal Year 2009-10 <br /> <br />RECOMMENDATION <br />By resolution, establish the appropriations limit for Fiscal Year 2009-10. <br /> <br />BACKGROUND <br />In 1979 the voters of the State of California passed Proposition 4, the Gann spending <br />limit initiative. The initiative establishes and defines annual appropriation limits for state <br />and local government entities and requires that the City adopt an appropriations limit <br />annually. Moreover, the initiative provides for annual adjustments. for changes in <br />population (for the City or County, whichever is greater) and either the statewide <br />percentage change in per capita personal income or percentage change in assessed <br />valuation attributable to growth in non-residential new construction. <br /> <br />The recommended appropriations limit for FY 2009-10 is $312,057,259 while the limit <br />for FY 2008-09 was $306,426,663. The estimated proceeds of taxes for FY 2009-10 are <br />only $57,558,996, well below the $312,057,259 legal limit. <br /> <br />The attachment displays the calculations utilized to arrive at this amount. <br /> <br />ALTERNATIVES <br />There are no practical alternatives as Article XIIIB of the State Constitution requires that <br />the state and all local entities adopt an appropriations limit annually. <br /> <br />Director of Finance <br /> <br />~. b-~A .l f' {(tv ~J<<- '1/\8ro-..~ <br />Peter Ingram <br />City Manager <br /> <br />ATTACHMENTS <br />1. Resolution Establishing Appropriation Limits for FY 2009-10 <br />2. Proposition 4 Appropriation Limitations FY 2009-10 <br /> <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />None <br />