HomeMy WebLinkAboutCity Council - 2023-25 RESOLUTION NO. 2023-25
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF HUNTINGTON BEACH ESTABLISHING THE
GANN APPROPRIATION LIMIT FOR FISCAL YEAR 2023/2024
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 provisions of Article 13B of the California Constitution and the
formula set out therein, there is hereby established an appropriation limit of$1,171,687,773 for
the fiscal year 2023/2024.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a
regular meeting thereof held on the 26th day of June , 2023.
4'7
Mayor
REVIEWED A P APP' •VED: APPROVED AS TO FORM:
City Manager 1 Ci► Attorney
INITIATED AND APPROVED:
Actin inancialOfficer
Exhibit A—Gann Limit Calculation
23-12909/310298
EXHIBIT A Resolution No. 2023-25
Exhibit 'A'
GANN LIMIT CALCULATION FISCAL YEAR 2023-2024
Under Proposition 1 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 2023-2024 adjustment are as follows:
Price Factor:
(A) Percent growth in State per Capita Personal Income: 4.44%
(Source: Dept.of Finance,California)
(B) Percent change in Assessed Valuation due to new non-residential construction: 0.82%
(Source:Orange County Assessor Prop 111 Report)
Population Factor:
(C) Percent growth in County Population: -0.38%
(Source: Dept.of Finance,California)
(D) Percent growth in City Population: -0.46%
(Source: Dept.of Finance,California)
Annual Adjustment Factor: -
Based on the actual.data,the four alternative adjustment factors are as follows:
(A x C) 1.0444 x 0.9962 = 1.04043128
(A x D) 1.0444 x 0.9954 = 1.03959576
(B x C) 1.0082 x 0.9962 = 1.00436884
(B x D) 1.0082 x 0.9954 — 1.00356228
Calculation of the Fiscal Year 2023-2024 Limit
FY 22/23 Limit $ 1,126,155,850
Recommended Adjustment Factor(Largest Allowable Increase) 1.04043I28
FY 23/24 Limit $ 1,171,687,773
Res. No. 2023-25
STATE OF CALIFORNIA
COUNTY OF ORANGE ) ss:
CITY OF HUNTINGTON BEACH )
I, ROBIN ESTANISLAU, 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 an adjourned regular meeting thereof held
on June 26, 2023 by the following vote:
AYES: Kalmick, Moser, Van Der Mark, Strickland, McKeon, Bolton, Burns
NOES: None
ABSENT: None
ABSTAIN: None
City Clerk and ex-officio Clerk of the
City Council of the City of
Huntington Beach, California