HomeMy WebLinkAbout2014-06-17; City Council; Resolution 2014-13325
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Exhibit 6
1 RESOLUTION NO. 2014-133
2 A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CARLSBAD, CALIFORNIA,
^ ESTABLISHING THE 2014-15 APPROPRIATION
4 LIMIT AS REQUIRED BY ARTICLE XIIIB OF THE
CALIFORNIA STATE CONSTITUTION AND STATE
5 LAW
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WHEREAS, Article XIIIB of the California State Constitution requires that
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governments annually establish a limit on the appropriation of proceeds of taxes; and
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^ WHEREAS, State law requires that this limit be presented to the governing body
10 of each entity each fiscal year; and
11 WHEREAS, State law also requires that this limit be published in a newspaper of
12 general circulation to allow public response to the limit as adopted.
13 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Carlsbad, California, as follows:
1. That the above recitations are true and correct.
2. That the City Council of the City of Carlsbad, California, does hereby
establish and adopt the 2014-15 appropriation limit of three hundred and seventy
one million, two hundred and fifty thousand, and nine hundred and twenty four
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20 dollars ($371,250,924) as computed in Exhibit 6-A attached hereto.
21 3. That the City Clerk is directed to publish this Resolution in a
22 newspaper of general circulation.
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PASSED, APPROVED AND ADOPTED at a Joint Special Meeting of the City Council of the
City of Carlsbad, the Carlsbad Municipal Water District Board of Directors, the Carlsbad
Community Development Commission, and the City of Carlsbad as Successor Agency to the
Redevelopment Agency on the 17*^ day of June 2014, by the following vote to wit:
AYES:
NOES:
ABSENT:
Council Members Hall, Packard, Wood, Schumacher, Blackburn.
None.
None.
MATT HALl, Mayor
ATTEST:
te^BABA ENGLESON, (ZitV Clerk
--it ; _- O
Exhibit 6-A
CITY OF CARLSBAD
GANN APPROPRIATIONS LIMIT
The Appropriations Limitation imposed by Proposition 4 and modified by Proposition 111
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:
> 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 2014-15 limit were:
> Population growth in Carlsbad, AND
> Growth in non-residential assessed valuation due to construction in the City.
The formula is outlined below:
2013- 14 Expenditure Limit $355.536.223
% Carlsbad Population Growth 1.0163
Growth in non-residential assessed valuation X 1.0275
Net Increase Factor 1.0442
2014- 15 Limit (2013-14 Limit X Factor) $371.250.924
Current Appropriation of Proceeds of Taxes $110,720,984
(Subject to the Limit)
The spending limit for the City of Carlsbad for 2014-15 is $371.3 million, with appropriations of
"proceeds of taxes" of $110.7 million. The result of the calculation provides the city with an
operating margin of $260.5 million.
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