HomeMy WebLinkAboutCity Council - 2014-70 RESOLUTION NO. 2014-70
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF HUNTINGTON BEACH ESTABLISHING THE
GANN APPROPRIATION LIMIT FOR FISCAL YEAR 2014/15
WHEREAS, Article 13B of the California Constitution imposes upon state agencies and
local governments the obligation to limit each fiscal year's appropriation of the proceeds from
taxes to the amount of such appropriations in fiscal year 1978/1979, adjusted for changes as
prescribed under the law,
NOW, THEREFORE, the City Council of the City of Huntington Beach does hereby
resolve as follows:
In compliance with the provisions of Article 13B of the California Constitution and the
formula set out therein, there is hereby established an appropriation limit of$753,008,825 for the
fiscal year 2014/15.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a
regular meeting thereof held on the 2°a day of September, 2014.
4
Mayor
REVIE ED AND APPROVED: APPROVED AS TO FORM:
Ci ger JC* y Attoi ey
INITIATED AND APPROVED:
tom ance Director
Exhibit A - Gann Limit Calculation
14-4345/111996
Resolution No. 2014-70
EXHIBIT A
GANN LIMIT CALCULATION FISCAL YEAR 2014-2015
Under Proposition I I I,there are two options available for each of the major adjustment factors. The values
of these factors for the purpose of calculating the Fiscal Year 2014-2015 adjustment are as follows:
Price Factor:
(A) Percent growth in State per Capita Personal Income: -0.23%
(Source:Dept of Finance,California-Attachment.1)
(I3) Percent change in Assessed Valuation due to new non-residential construction: 1.50%
(Source:Orange County Assessor Prop 111 Report-Attachment 2)
Population Factor:
(C) Percent growth in County Population: 0.93%
(Source:Dept of Finance,California-Attachment 1)
(D) Percent growth in City Population: 1.12%
(Source: Dept of Finance, California-Attachment 1)
Annual Adjustment Factor:
Based on the actual data,the four alternative adjustment factors are as follows:
(A x C) 0.9977 x 1.0093 = 1.0070
(A x D) 0.9977 x 1.0112 = 1.0089
(B x C) 1,015 x 1.0093 = 1.0244
(13 x D) 1.015 x 1.0112 = 1.0264
Calculation of the Fiscal Year 2014-2015 Limit
FY 13/14 Limit $733,663,584 From PY G
Recommended Adjustment Factor(Largest Allowable Increase) 1.026368
FY 14/15 Limit $753,008,825
xB Item 15. - 31
Res. No. 2014-70
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH )
I, JOAN L. FLYNN the duly elected, qualified City Clerk of the City of
Huntington Beach, and ex-officio Clerk of the City Council of said City, do hereby
certify that the whole number of members of the City Council of the City of
Huntington Beach is seven; that the foregoing resolution was passed and adopted
by the affirmative vote of at least a majority of all the members of said City Council
at a Regular meeting thereof held on September 2, 2014 by the following vote:
AYES: Katapodis, Hardy, Shaw, Harper, Boardman, Sullivan, Carchio
NOES: None
ABSENT: None
ABSTAIN: None
City Iflerk and ex-officio Clerk of the
City Council of the City of
Huntington Beach, California