R 4795 RESOLUTION NO. 4795
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE ADOPTING A TAX PROCEEDS
EXPENDITURE APPROPRIATION LIMIT FOR FISCAL
YEAR 2017-18
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 Arroyo Grande, California
are recognized as the annual adjustment factors for Fiscal Year 2017-18.
2. The appropriation limit for Fiscal Year 2017-18 is hereby set at twenty one
million, three hundred fifty thousand, and five hundred seventy eight dollars
($21,350,578).
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 Harmon, and on
the following roll call vote, to wit:
AYES: Council Members Brown, Harmon, Barneich, and Mayor Hill
NOES: None
ABSENT: Council Member Ray
the foregoing Resolution was passed and adopted this 13th day of June, 2017.
RESOLUTION NO. "/715
PAGE 2
•
JI HILL, MAYOR
ATTEST:
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KEL WE '.f.ORE, CITY CLERK
APPROVED AS TO CONTENT:
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JA RGMAN, CITY MANAGER
APPROVED AS TO FORM:
1-FEATHER WHITHAM, CITY ATTORNEY
EXHIBIT A
CITY OF ARROYO GRANDE
CALCULATION OF APPROPRIATION LIMIT FROM TAX PROCEEDS
FOR FISCAL YEAR 2017-18
Appropriation limit for 2016-17 $ 20,572,263 (A)
Multiplied by the appropriation limit change factors:
Per Capita Personal Income Change: 3.69%
Conversion to ratio: 3.69% + 100
= 1.0369 (B)
100
Population Change:
2016 17,720
2017 17,736 0.09%
Change 16
Conversion to ratio: 16 .09%+ 100 1.00090 (C)
17,736 100
Appropriation limit factor: (B x C) 1.0378 (D)
APPROPRIATION LIMIT FOR FISCAL YEAR 2017-18 (A x D) $ 21,350,578
ESTIMATED 2017-18 PROCEEDS OF TAXES SUBJECT TO
APPROPRIATION LIMIT $ 15,221,881
Amount under/(over) limit $ 6,128,697
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. 4795 was passed and adopted at a regular meeting of the City Council
of the City of Arroyo Grande on the 13th day of June, 2017.
WITNESS my hand and the Seal of the City of Arroyo. Grande affixed this 15th day of
June, 2017.
6(i..041.1V-Ce
KELLY r ET •RE, CITY CLERK -