HomeMy WebLinkAboutr10370adoptingappropriationslimitfor2012-13RESOLUTION NO . 10370 (2012 Series )
A RESOLUTION OF THE CITY OF SAN LUIS OBISPO ADOPTING TH E
APPROPRIATIONS LIMIT FOR 2012-1 3
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 limit s
on state and local government agencies ; and
WHEREAS,regulations require that the governing body of each local agency establish it s
appropriations limit and annual adjustment factors by resolution ; and
WHEREAS,the required calculations to determine the City's appropriations limit an d
estimated appropriations subject to limitation for 2012-13 have been performed by the Departmen t
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 2012-13 a s
follows :
Appropriations Limit : 2011 .12
$49,323,40 0
Cost of Living Factor : Percent change in California per capita income
3 .77 %
Population Factor : County Population Growth
0 .47%
Compound Percentage Factor (multiplicative not additive) 1 .043 %
Appropriations Limit: 2012-13
$51,423,50 0
Upon motion of Council Member Carter, seconded by Council Member Ashbaugh and o n
the following roll call vote :
AYES:
Council Members Ashbaugh, Carter and Smith, Vice Mayor Carpenter an d
Mayor Marx
NOES :
None
ABSENT : Non e
The foregoing resolution was adopted this 19th day of June 2012 .
ATTEST :
Sheryll Schroede r
Interim City Clerk
R 10370