HomeMy WebLinkAboutR-10097 Adopting appropriation limits 2009-10RESOLUTION NO. 10097 (2009 Series)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISPO
ADOPTING THE APPROPRIATIONS LIMIT FOR 2009 -10
WHEREAS, the voters approved the Gann Spending - Limitation Initiative on November 6, 1979,
and Proposition 111 on June 5, 1990, which establish and define annual appropriation limits on state and
local government agencies; and
WHEREAS, regulations require that the governing body of each local agency establish its
appropriations limit and annual adjustment factors by resolution; and
WHEREAS, the required calculations to determine the City's appropriations limit and estimated
appropriations subject to limitation for 2009 -10 have been performed by the Department of Finance &
Information Technology and are available for public review.
NOW, THEREFORE, BE IT RESOLVED that the Council of the City of San Luis Obispo
hereby adopts the City's appropriations limit and annual adjustment factors for 2009 -10 as follows:
Appropriations Limit: 2008 -09 $47,758,200
Cost of Living Factor: Percent change in California per capita income 1.01%
Population Factor: County Population Growth 0.62%
Compound Percentage Factor (multiplicative not additive) 1.64%
Appropriations Limit: 2009 -10 $48,541,400
Upon motion of Council Member Carter, seconded by Council Member Ashbaugh, and on the
following vote:
AYES: Council Members Ashbaugh, Carter and Marx, Vice Mayor Settle and Mayor
Romero
NOES: None
ABSENT: None
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The foregoing resolution was adopted this 16'' day of June 2009.
y6r David F. Romero
ATTEST:
Audrey He
City Clerk
APPROVED AS TO FORM:
Jona well
City Attorney
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