R 4590 RESOLUTION NO. 4590
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE. ADOPTING A TAX PROCEEDS
EXPENDITURE APPROPRIATION LIMIT FOR FISCAL
YEAR 2014-15
WHEREAS, Sections 7900 et seq. of the Government Code provide for the effective
and efficient implementation of Article XIIIB of the California Constitution; and
WHEREAS, Government Code Sections 7901 through 7914 provide that each year, the
governing body of each local jurisdiction shall, by resolution adopted at a regularly
scheduled meeting, establish the annual adjustment factors to be used and the tax
proceeds expenditure appropriation limit.
NOW, THEREFORE BE IT RESOLVED, by the City Council of the City of Arroyo
Grande as follows:
1. The California per capita income and the population of San Luis Obispo County,
California are recognized as the annual adjustment factors for Fiscal Year 2014-
15.
2. The appropriation limit for Fiscal Year 2014-15 is hereby set at eighteen million,
seven hundred five thousand, and nine hundred fifty one dollars ($18,605,951).
3. Documentation used in the determination of the tax proceeds expenditure
appropriation limit is attached hereto as Exhibit A and incorporated herein by this
reference.
4. This Resolution is effective on its date of adoption.
On motion of Council Member Barneich, seconded by Council Member
Brown, and on the following roll call vote, to wit:
AYES: Council Members Barneich, Brown, Costello, Guthrie, and Mayor Ferrara
NOES: None
ABSENT: None
the foregoing Resolution was passed and adopted this 10th day of June, 2014.
RESOLUTION NO. kim o
PAGE 2
TON ii f, MAYOR
ATTEST:
ithi4(1) -
KELLY ET RE, CITY CLERK
APPROVED AS TO CONTENT:
STEV N ADAMS, CITY MANAGER
APPROVED AS TO FORM:
TIMO Y J. CAR L, CITY ATTORNEY
Exhibit A
CITY OF ARROYO GRANDE
CALCULATION OF APPROPRIATION LIMIT FROM TAX PROCEEDS
FOR FISCAL YEAR 2014-15
Appropriation limit for 2013-14 $ 18,736,907
Multiplied by the appropriation limit change factors:
Per Capita.Personal Income Change: -0.23%
Conversion to ratio: -0.23% + 100
0.9977
100
Population Change:
2013 17,415
2014 - 17,334 -0.47%.
Change (81)
Conversion to ratio: (81) -.47+ 100 0.99530
17,334 100
APPROPRIATION LIMIT FOR FISCAL YEAR 2014-15 $ 18,605,951
ESTIMATED 2014-15 PROCEEDS OF TAXES SUBJECT TO
APPROPRIATION LIMIT $ 13,133,189
OFFICIAL CERTIFICATION
I, KELLY WETMORE, City Clerk of the City of Arroyo Grande, County of San Luis
Obispo, State of California, do hereby certify under penalty of perjury, that the attached
Resolution No. 4590 is a true, full, and correct copy of said Resolution passed and
adopted at a Regular meeting of the City Council of the City of Arroyo Grande on the
10th day of June, 2014.
WITNESS my hand and the Seal of the City of Arroyo Grande affixed this 12th day of
June, 2014.
KELLY TMO,•E, CITY CLERK