HomeMy WebLinkAbout2004-06-22; City Council; Resolution 2004-196L
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Exhibit 7
RESOLUTION NO. 2004-196
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA, ESTABLISHING THE
2004-05 APPROPRIATION LIMIT AS REQUIRED BY
ARTICLE XlllB OF THE CALIFORNIA STATE
CONSTITUTION AND STATE LAW
WHEREAS, Article XlllB of the California State Constitution requires that governments
annually establish a limit on the appropriation of proceeds of taxes; and
WHEREAS, State law requires that this limit be presented to the governing body of
each entity each fiscal year; and
WHEREAS, State law also requires that this limit be published in a newspaper of
general circulation to allow public response to the limit as adopted.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad,
California, as follows:
1. That the City Council of the City of Carlsbad, California, does hereby establish
and adopt the 2004-05 appropriation limit of one hundred fourty-two million, five hundred eight
thousand, eight hundred thirty-eight dollars ($142,508,838) as computed in Exhibit A attached
he re to.
2. That the City Clerk is directed to publish this Resolution in a newspaper of
general circulation.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council on
the 22nd dayof June ,20
AYES: Council Members Le 1 and Packard
NOES: None
ABSENT: None
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NRRAINEP. WOOD, City Clerk (Seal)
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Exhibit A
CITY OF CARLSBAD
GANN APPROPRIATIONS LIMIT
The Appropriations Limitation imposed by Proposition 4 and modified by Proposition 11 1
creates a restriction on the amount of revenue which can be appropriated in any fiscal year.
The revenues which are subject to the Limitation are those considered "proceeds of taxes." The
basis for calculating the Limit began in fiscal year 1978-79 and is increased based on population
growth and inflation.
The major change made by Proposition 111 allows the City to annually choose among the
following options for calculating its Gann Limit:
P > >
9
Population growth of Carlsbad, OR
Population growth within San Diego County, AND
Growth in California per capita income, OR
Growth in non-residential assessed valuation due to new construction in the City.
The factors used to calculate the 2004-05 Limit were:
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Population growth in Carlsbad, AND
Growth in non-residential new construction
The formula is outlined below:
2003-04 Expenditure Limit (Revised) $1 34,693,483
YO Carlsbad Population Growth
Growth in California per capita income
Net Increase Factor
2003-04 Limit (2002-03 Limit X Factor)
Current Appropriation of Proceeds of Taxes
(Subject to the Limit)
1.0244
X 1.0328
1.0580
$1 42,508,838
$77,451,439
The spending limit for the City of Carlsbad for 2004-05 is $142.5 million, with appropriations of
"proceeds of taxes" of $77.5 million. The result of the calculation provides the City with an
operating margin of $65.0 million.