RESOLUTION NO. 23-70
Resolution Of The City Council Of The City Of Emeryville Adopting An Appropriations Limit For Fiscal Year 2024 Of $141,294,720 WHEREAS, pursuant to Article XIIIB of the California Constitution, the City of Emeryville is required to annually adopt an Appropriations Limit for the following fiscal year identifying the limit for appropriation of revenues from tax proceeds; and WHEREAS, the City Council must annually identify the population and inflation adjustment factors utilized to calculate the Appropriations Limit; and WHEREAS, the calculation of the Appropriations Limit is shown in Attachment A; now, therefore, be it
RESOLVED, that the City Council of the City of Emeryville hereby determines the adjustment factors used for calculation of the Fiscal Year 2024 Appropriations Limit is as follows:
1. Population: City population growth from January 1, 2022, to January 1, 2023, of
1.06 %.
2. Inflation: California Per Capita Personal Income growth of 4.44%. ; and, be it, further
RESOLVED, that the City Council of the City of Emeryville hereby establishes an Appropriations Limit for the Fiscal Year 2024 of $141,294,720.
ADOPTED, by the City Council of the City of Emeryville at a regular meeting held Tuesday, June 06, 2023, by the following vote:
AYES: 5
Mayor Bauters, Vice Mayor Welch and Council Members Kaur, Mourra and Priforce
NOES: 0
ABSTAIN: 0
ABSENT: 0
MAYOR
ATTEST: APPROVED AS TO FORM:
CITY CLERK CITY ATTORNEY
DocuSign Envelope ID: 6122E748-7427-4A5A-ACA8-A5F3922A48B1 City of Emeryville Fiscal Year 2023-24
Gann Appropriations Limit Calculations
City Population County Population
Change Change
Population Change as of January 1, 2023 1.06% A -0.47% A Per Capita Consumer
Change Price Index
Cost of Living FY 2023-24 4.44% B 5.60% C
FY 23-24 Gann Limit Growth Factor
1 + Larger of County and City Population 101.06%
1 + Larger of Per Capita Change and
12-Month Change in CPI for County x 105.60%
INCREASE in City's Appropriations Limit for FY 2023-24 1.067194 FY 2022-23 Appropriations Limit 132,398,346 $ D
Growth Factor x 1.067194
FY 2023-24 APPROPRIATIONS LIMIT $ 141,294,720
Notes:
C - Bureau of Labor Statistics CPI, 2022 Avg Change - SF Area (includes Alameda County) D - FY2022-23 General Fund Appropriations Limit as adopted by City Council A - California Department of Finance Population Estimate for Cities, Counties, and State, Dated May, 2023
B - California Department of Finance Letter - Price Factor and Population Information, Dated May, 2023
DocuSign Envelope ID: 6122E748-7427-4A5A-ACA8-A5F3922A48B1