HomeMy WebLinkAboutCity Council - 2024-28 RESOLUTION NO. 2024-28
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF HUNTINGTON BEACH ESTABLISHING THE
GANN APPROPRIATION LIMIT FOR FISCAL YEAR 2024/2025
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$1,217,866,589 for
the fiscal year 2024/2025.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a
regular meeting thereof held on the L►th day of June , 2024.
elk 61—t_
Mayor
REVIEWED APPROV D: APPROVED AS ORM:
City Manager Cit Attorney
INITIATED AND APPROVED:
Chief Fina al fficer
Exhibit A—Gann Limit Calculation
24-14716/342472
EXHIBIT A Resolution No. 2024-28 .
Exhibit A
GANN LIMIT CALCULATION FISCAL YEAR 2024-2025
Under Proposition 111,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 2024-2025 adjustment are as follows:
Price Factor:
(A) Percent growth in State per Capita Personal Income: 3.62%
(Source:Dept.of Finance,California)
(B) Percent change in Assessed Valuation due to new non-residential construction: -1.07%
(Source:Orange County Assessor Prop 111 Report)
Population Factor:
(C) Percent growth in County Population: 0.31%
(Source:Dept.of Finance,California)
(D) Percent growth in City Population: -0.30%
(Source:Dept.of Finance,California)
Annual Adjustment Factor:
Based on the actual data,the four alternative adjustment factors are as follows:
(A x C) .1.0362 x 1.0031 = 1.039412220
(A x D) 1.0362 x 0.9970 = 1.033091400
(B x C) 0.9893 x 1.0031 = 0.992366830
(B x D) 0.9893 x 0.9970 = 0.986332100
Calculation of the Fiscal Year 2024-2025 Limit
FY 23/24 Limit $ 1,171,687,773
Recommended Adjustment Factor(Largest Allowable Increase) 1.03941222
FY 24/25 Limit $ 1,217,866,589
Res. No. 2024-28
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 a Regular meeting thereof held on June 4, 2024 by the following vote:
AYES: Moser, Bolton, Burns, Van Der Mark, Strickland, McKeon, Kalmick
NOES: None
ABSENT: None
RECUSE: None
94541114,140
City Clerk and ex-officio Clerk of the
City Council of the City of
Huntington Beach, California