R 4660 RESOLUTION NO. 4660
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE ADOPTING A TAX PROCEEDS
EXPENDITURE APPROPRIATION LIMIT FOR FISCAL
YEAR 2015-16
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 2015-
16.
2. The appropriation limit for Fiscal Year 2015-16 is hereby set at nineteen million,
four hundred sixty-five thousand, and four hundred thirty seven dollars
($19,465,437).
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 Brown, seconded by Council Member Barneich, and on
the following roll call vote, to wit:
AYES: Council Members Brown, Barneich, Guthrie, Harmon, and Mayor Hill
NOES: None
ABSENT: None
the foregoing Resolution was passed and adopted this 11th day of June 2015.
RESOLUTION NO. lib 4'6
PAGE 2
JI HILL, MAYOR
ATTEST:
-0 ao( / / Attehjece.
KELLY ET ORE, CITY CLERK
,_ • ��- TO CONTENT:
WAN
OBERT MCFALL, INTERIM CITY MANAGER
APPROVED AS TO FORM:
■
HEATHER WHITHAM, CITY ATTORNEY
Exhibit A
CITY OF ARROYO GRANDE
CALCULATION OF APPROPRIATION LIMIT FROM TAX PROCEEDS
' FOR FISCAL YEAR 2015-16
Appropriation limit for 2014-15 $ 18,605,951
Multiplied by the appropriation limit change factors:
Per Capita Personal Income Change: 3.82%
Conversion to ratio: 3.82% + 100
1.0382
100
Population Change:
' 2014 17,295
2015 17,428 0.77%
Change 133
Conversion to ratio: 133 .77+ 100 1.00770
17,428 100
APPROPRIATION LIMIT FOR FISCAL YEAR 2015-16 $ 19,465,437
ESTIMATED 2015-16 PROCEEDS OF TAXES SUBJECT TO
APPROPRIATION LIMIT $ 13,982,850
Amount under/(over) limit $ 5,482,587
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. 4660 was passed and adopted at a regular meeting of the City Council
of the City of Arroyo Grande on the 9th day of June, 2015.
WITNESS my hand and the Seal of the City of Arroyo Grande affixed this 11th day of
June, 2015.
Watil E'(_
r /
KELLY + ET its RE, CITY CLERK