HomeMy WebLinkAboutR-10814 - ADOPTING THE APPROPRIATIONS LIMIT FOR 2017-18RESOLUTION NO. 10814 (2017 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, ADOPTING THE APPROPRIATIONS LIMIT FOR
2017-18
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 2017-18, 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 2017-18 as follows:
2016-17 Appropriations Limit 1 1 $66,451,524
Adjustment Factors
A. Cost of Living Option
Percentage change in assessed value in the preceding year due to
new non-residential construction [% + 100/100] 1.0820
B. Population Option
Percentage change in County population [% + 100/100] x 1.0092
Compound Percentage Factor (multiplicative not additive) [A x B] I 1.092%
Total Adjustment [PY Appropriations Limit x Compound % Factor] $6,110,510
2017-18 Appropriations Limit = [2016-2017 Limit x Compound % Factor] $72,562,034
R 10814
Resolution No 10814 (2017 Series)
Page 2
Upon motion of Council Member Christianson, seconded by Council Member Pease, and on the
following roll call vote:
AYES: Council Members Christianson, Gomez, and Pease
Vice Mayor Rivoire and Mayor Harmon
NOES: None
ABSENT: None
The foregoing resolution was adopted this 20th day of June 2017.
May Heid' Harman
ATTEST:
Carrie Gallagher
City Clerk
APPROVED AS TO �QRM:
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, this 090 A day of
�Z � 2
Carrie Gallagher
City Clerk
R 10814