RESOLUTION NO.______
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EAST PALO ALTO ESTABLISHING AN APPROPRIATION LIMIT OF $37,844,018
FOR FISCAL YEAR 2022-23
WHEREAS, the City is required to adopt a limit on appropriations subject to a formula outlined in Article XIIIB of the California Constitution; and WHEREAS, the California Constitution also requires a method of inflation be chosen; and
WHEREAS, due to COVID-19 Pandemic the cost-of-living factor related to growth in non-residential assessment valuation calculated by the San Mateo County Assessor’s Office was not available; and
WHEREAS, the City of East Palo Alto elects to use the following factors relevant to the calculation of the Appropriation Limit for FY 2022-23:
• Per Capita Personal Income Change: +7.55% (Plus Seven Point Five Five Percent) • County of San Mateo Population Adjustment: -0.92% (Minus Point Ninety-Two Percent) WHEREAS, a resolution establishing the annual appropriation limit must be adopted at a regularly scheduled meeting or noticed special meeting of the City Council; and
WHEREAS, the City Council held public hearings and adopted the Fiscal Year 2022-23 budget on June 7, 2022, and appropriations therein were determined within the calculated appropriation limit; and
WHEREAS, a determination of the FY 2022-23 Appropriations Limit has been made available to the public fifteen days prior to the meeting held herein;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EAST PALO ALTO:
1. The Appropriation Limit for Fiscal Year 2022-23 shall be and is hereby set at $37,844,018 pursuant to Exhibit A attached hereto and incorporated herein by this reference.
2. The Appropriation Limit of $37,844,018 exceeds the Appropriations Subject to Limitation calculated in the amount of $29,016,773 by $8,827,244. Therefore, the City of East Palo Alto complies with the provisions of Article XIII B of the State Constitution.
PASSED AND ADOPTED this 7
th day of June 2022, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Ruben Abrica, Mayor
ATTEST: APPROVED AS TO FORM:
James Colin, Acting City Clerk Valerie J. Armento, Interim City Attorney