DATE: June 6, 2023
TO: Mayor and City Council
FROM: Director of Finance
SUBJECT
Gann Limit Adoption: Adopt a Resolution Establishing a Gann Appropriations Limit for Fiscal Year 2024
RECOMMENDATION
That Council adopts a resolution (Attachment II) establishing a Gann Appropriations Limit for Fiscal Year 2024.
SUMMARY
Each fiscal year, the City is required to calculate and establish its appropriations limit. The Gann Limit for FY 2024 is calculated at $401,094,902, and the appropriations subject to the limit total is $147,272,181. The City is in compliance with the Gann Limit for FY 2024.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment II Gann Appropriation Limit