RESOLUTION NO.______
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EAST PALO ALTO ESTABLISHING AN APPROPRIATION LIMIT OF $39,354,338
FOR FISCAL YEAR 2023-24
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, the City of East Palo Alto elects to use the following factors relevant to the calculation of the Appropriation Limit for FY 2023-24:
Per Capita Personal Income Change: +4.44% (Plus Four Point Forty-Four Percent)
County of San Mateo Population Adjustment: -0.43% (Minus Point Forty-Three 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 2023-24 budget on June 20, 2023, and appropriations therein were determined within the calculated appropriation limit; and
WHEREAS, a determination of the FY 2023-24 Appropriations Limit has been made available to the public fifteen days prior to the meeting held.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EAST PALO ALTO:
1. Finds that the foregoing recitals are true and correct and are incorporated by this reference into this action;
2. Sets the Appropriation Limit for Fiscal Year 2023-24 at $39,354,338 pursuant to the calculation prepared in accordance with local law, contained within Exhibit A, which is attached hereto and incorporated by this reference.
3. Finds and determines that the Appropriation Limit of $39,354,388 exceeds the Appropriations Subject to Limitation calculated in the amount of $34,436,213 by $4,918,125; therefore, the City of East Palo Alto complies with the provisions of Article XIII B of the State Constitution.
PASSED AND ADOPTED this 20th day of June 2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Lisa Gauthier, Mayor
ATTEST: APPROVED AS TO FORM:
James Colin, City Clerk John D. Lê, City Attorney