HomeMy WebLinkAboutR-11657 adopting the Fiscal Year 2026-27 BudgetR 11657
RESOLUTION NO. 11657 (2026 SERIES)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, ADOPTING THE FISCAL YEAR 2026-27
BUDGET
WHEREAS, pursuant to Section 804 of the City Charter, the City Council must
adopt the FY 2026-27 Budget by June 30, 2026 for the appropriations to be in place when
the next fiscal year begins on July 1, 2026; and
WHEREAS, pursuant to Section 803 of the City Charter, the City Council shall hold
a public hearing on the proposed budget and this hearing was held during the June 2,
2026 City Council meeting; and
WHEREAS, California 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, the California Government Code requires that the governing body of
each local agency establish its appropriations limit and annual factors by resolution; and
NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of San Luis
Obispo as follows:
SECTION 1. The Fiscal Year 2026-27 budget is hereby approved and that the
budget for the fiscal year beginning July 1, 2026 and ending June 30, 2027 is hereby
appropriated as presented in the FY 2026-27 Supplemental Budget.
SECTION 2. The City Manager is hereby delegated authority to approve budget
adjustments, including non-substantive format and typographical changes found within
the FY 2026-27 Budget, consistent with the adopted budget policies to maintain
budgetary flexibility and balances for the organization.
Docusign Envelope ID: 97BA8D63-BD52-8C6B-807E-7B1FB9FACB10
Resolution No. 11657 (2026 Series) Page 2
R 11657
SECTION 3. The City’s appropriation limit and annual adjustment factors for Fiscal
Year 2026-27 are adopted as follows:
Upon motion of Vice Mayor Francis, seconded by Council Member Shoresman,
and on the following roll call vote:
AYES: Council Member Boswell, Marx, Shoresman, Vice Mayor Francis,
and Mayor Stewart
NOES: None
ABSENT: None
The foregoing resolution was adopted this 2nd day of June 2026.
______________________________
Mayor Erica A. Stewart
ATTEST:
Teresa Purrington,
City Clerk
APPROVED:
J. Christine Dietrick,
City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of San Luis Obispo, California, on ______________________.
________________________________
Teresa Purrington,
City Clerk
Appropriations Limit 2025-26 $102,632,964
Cost of Living Increase 1.05%
Population Factor: City Population Growth 1.01%
Compounded Percentage Factor (multiplicative not additive) 1.06%
Appropriations Limit 2026-27 $108,396,106
Docusign Envelope ID: 97BA8D63-BD52-8C6B-807E-7B1FB9FACB10
6/10/2026 | 8:14 AM PDT