DATE: June 7, 2022
TO: Mayor and City Council
FROM: Director of Finance
SUBJECT
Gann Appropriations Limit for Fiscal Year 2023: Adopt Appropriations Limit for Fiscal Year 2023 Pursuant to Article XIII B of the Constitution of the State of California
RECOMMENDATION
That Council adopts a resolution (Attachment II) establishing a Gann appropriations limit for Fiscal Year 2023.
SUMMARY
Each fiscal year, the City is required to calculate and establish its appropriations limit. The Gann Limit for FY 2023 is calculated at $385,856,903, and the appropriations subject to the limit total $134,128,080.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III Gann Appropriation Limit