Staff Report
City Council
Item No. 3.C
Meeting Date: June 8, 2022
From: Tami Scott, Administrative Services Director
Title: Fiscal Year (FY) 2022/2023 Appropriations Limit, Gann Initiative Limitation
City Council
RECOMMENDATION:
Approve the City’s appropriations limit for the FY 2022/2023, Gann Initiative Limitation BACKGROUND:
Each fiscal year, the City Council must adopt a resolution establishing a Gann Initiative Limitation. Council has before them a request to approve the FY 2022/2023 Gann Initiative Limitation.
DISCUSSION:
The Gann Initiative Limitation for a fiscal year cannot be calculated until the per capita income change factor and the population change factor are provided by the State of California, Department of Finance. This information is usually made available May 1st of each year prior to the upcoming fiscal year.
The attached calculation and summary shows the tax revenues of the City of Cathedral City are currently estimated at approximately 45.4% of the Gann limit, which indicates the City is not overtaxing its citizens. Approval of this Gann Initiative Limitation is required by statute before the start of each fiscal year.
FISCAL IMPACT:
None
ATTACHMENTS:
Gann Limit Narrative_FY23 Gann
Limit_by fiscal year_FY23 Gann
Limit Resolution_FY23
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