HomeMy WebLinkAbout1998-06-16; City Council; Resolution 98-192*
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0 0 EXHIBIT 5
RESOLUTION NO. 98-192
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
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
OF CARLSBAD, CALIFORNIA ESTABLISHING THE 1998-99
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 1998-99 appropriation limit of one hundred sixty-two million,
six hundred and twenty-six thousand, eight hundred and thirty seven dollars
($162,626,837) as computed in Exhibit A attached hereto.
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 16 day of June , 1998, by the following vote, to wit:
AYES: Council Members Lewis, Finnila, Nygaa
NOES: None
ABSENT: None ~~ A
ATTEST:
,n (h&" 2 ; / ) ,-j . F.dALh
ALETHA I.. RAUTENKkANZ, City Ca (SEAL)
*
A 0 0 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 I1 1 allows the City to annually choose among the
following options for calculating its Gann Limit:
> 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 oonstruction in the City.
The factors used to calculate the 1998-99 Limit were:
> Population growth in Carlsbad, AND > Growth in non-residential new construction
The formula is outlined below:
1997-98 Expenditure Limit $147,944,956
% Carlsbad Population Growth
Growth in non-residential new construction
Net Increase Factor
1.051 2
X 1.0457
1.0992
1998-99 Limit (1 997-98 Limit X Factor) $162,626,837
Current Appropriation of Proceeds of Taxes $39,662,602
The spending limit for the City of Carlsbad for 1998-99 is $162.6 million with appropriations of
"proceeds of taxes" of $39.7 million. The result of the calculation provides the City with an
operating margin of $122.9 million.