HomeMy WebLinkAboutR-10639 Appropriations Limit for 2015-16RESOLUTION NO. 10639 (2015 Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, ADOPTING THE APPROPRIATIONS LIMIT
FOR 2015 -16
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 2015 -16, 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 2015 -16
as follows:
Appropriations Limit: 2014 -15 $59,112,600
Increase in Non - Residential Assessed Valuation Due to New Construction 4.97%
Population Factor: County Population Growth .78%
Compound Percents e Factor (multiplicative not additive) 1.058%
Appropriations Limit: 2015 -16 $62,534,500
Upon motion of Council Member Christianson, seconded by Vice Mayor Ashbaugh, and
on the following roll call vote:
AYES: Council Members Carpenter, Christianson, and Rivoire,
Vice Mayor Ashbaugh, and Mayor Marx
NOES: None
ABSENT: None
R 10639
Resolution No. 10639 (2015 Series)
The foregoing resolution was adopted this 23�d day of June, 2015.
Mayor Ja 00MA
ATTEST:
T. Christine Dietrick
City Attorney
Page 2
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City
of San Luis Obispo, California, this day of � i ,., , ?o i's
An' thony J.
City Clerk