RESOLUTION NO. 2024-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMARILLO ESTABLISHING THE FISCAL YEAR 2024/25 APPROPRIATIONS LIMIT
FOR THE CITY OF CAMARILLO
The City Council of the City of Camarillo resolves as follows:
SECTION 1: The City Council of the City of Camarillo finds and declares as follows:
A. The City of Camarillo, pursuant to Article XIII B of the Constitution of the State of California, is annually required to adopt an Appropriations Limit; and B. The City is required annually to select the population and inflation factors used in determining the Appropriations Limit; and
C. The population factor used was the change in population for the City of Camarillo, which was -0.3494%; and
D. The inflation factor used was the per capita cost of living change, which was
3.62%.
E. The City of Camarillo Appropriations Limit for 2024/25 is $139,841,666 as calculated below:
2023/24 Appropriations Limit $135,426,754
Population Factor (City) -0.3494
Inflation Factor (Per Capita Cost of Living Change) 1.0362 Total Adjustment Factor (1.0362 x 0.9965) x 1.0326 2024/25 Appropriations Limit $139,841,666
(Prior year limit x population factor x inflation factor = new limit) SECTION 2:The City Clerk shall certify to the adoption of this Resolution.
PASSED AND ADOPTED June 26, 2024.
Mayor
Attested to on_________________________.
____________________________________
City Clerk
I, Kristy Buxkemper, City Clerk of the City of Camarillo, certify Resolution No. 2024- was adopted by the City Council of the City of Camarillo at a regular meeting held June 26, 2024, by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
City Clerk