R 4860 RESOLUTION NO. 4860
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE ADOPTING A TAX PROCEEDS
EXPENDITURE APPROPRIATION LIMIT FOR FISCAL
YEAR 2018-19
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 2018-19.
2. The appropriation limit for Fiscal Year 2018-19 is hereby set at twenty two
million, one hundred eighty thousand, and six hundred twenty six dollars
($22,180,626).
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, Harmon, Ray, and Mayor Hill
NOES: None
ABSENT: None
the foregoing Resolution was passed and adopted this 12th day of June, 2018.
RESOLUTION NO. Moo
PAGE 2
1 _
I HILL, MAYOR
ATTEST: - -
vMAC/(Ale2-e---
KELLY WET OrE, CITY CLERK
APPROVED AS TO CONTENT:
JAMES MAN, CITY MANAGER
APPROVED AS TO FORM:
ATHER WHITHAM, CITY ATTORNEY
EXHIBIT A
CALCULATION OF APPROPRIATION LIMIT FROM TAX PROCEEDS
FOR FISCAL YEAR 2018-19
Appropriation limit for 2017-18 $ 21,350,578 (A)
Multiplied by the appropriation limit change factors:
Per Capita Personal Income Change: 3.67%
Conversion to ratio: 3.67% + 100
= 1.0367 (B)
100
Population Change:
2017 17,874
2018 17,912 0.21%
Change 38
Conversion to ratio: 38 .21%+ 100 1.00210 (C)
17,912 100
Appropriation limit factor: (B x C) 1.0389 (D)
APPROPRIATION LIMIT FOR FISCAL YEAR 2018-19 (A x D) $ 22,180,626
ESTIMATED 2018-19 PROCEEDS OF TAXES SUBJECT TO
APPROPRIATION LIMIT $ 15,975,475
Amount under/(over) limit $ 6,205,151
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. 4860 was passed and adopted at a regular meeting of the City Council
of the City of Arroyo Grande on the 12th day of June, 2018.
WITNESS my hand and the Seal of the City of Arroyo Grande affixed this 14th day of
June, 2018.
KELLY W T ".RE, CITY CLERK