RESOLUTION NO. 23-130
Resolution Of The City Council Of The City Of Emeryville Rescinding Resolution No. 23-70 And Adopting A Revised Appropriations Limit For Fiscal Year 2024 Of $146,833,723
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 change in population and Per Capita Personal Income to calculate the Appropriations Limit; and WHEREAS, the auditors reviewed the Fiscal Year (FY) 2023 Appropriations Limit and noticed the beginning balance of FY 2021 was used in the calculation instead of using FY 2022, resulting in an understatement of FYs 2023 and 2024 Appropriation Limits; and WHEREAS, the calculation of the FY 2024 Appropriations Limit has been revised and 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 FY 2024 Appropriations Limit is as follows:
1. City population growth from January 1, 2022 to January 1, 2023 of 1.06%.
2. California Per Capita Personal Income growth of 4.44%; and, be it, further RESOLVED, that the City Council of the City of Emeryville hereby rescinds Resolution No. 23-70 and establishes a Revised Appropriations Limit for the FY 2024 of $146,833,723.
DocuSign Envelope ID: AFBD8303-E395-4CF6-9EC9-DAE6951FD871 Resolution No. 23-130
FY2024 Appropriations Limit
City Council Meeting | October 17, 2023
ADOPTED, by the City Council of the City of Emeryville at a regular meeting held Tuesday, October 17, 2023, by the following vote:
AYES: 4
Mayor Bauters, Vice Mayor Welch and Council Members Kaur and Mourra
NOES: 0
ABSTAIN: 0
ABSENT: 1 Council Member Priforce
MAYOR
ATTEST: APPROVED AS TO FORM:
DEPUTY CITY CLERK CITY ATTORNEY
DocuSign Envelope ID: AFBD8303-E395-4CF6-9EC9-DAE6951FD871 City of Emeryville
Fiscal Year 2024 GANN Appropriations Limit
City Population County Population
Change Change
Population Adjustment 1.06% A -0.47% A
Per Capita
Income Change
Cost of Living Adjustment 4.44% B
FY 2024 GANN Limit Growth Factor
1 + Larger of City or County Population 101.06%
1 + Per Capita Income Change x 104.44%
FY 2024 INCREASE in Appropriations Limit 1.055471
FY 2023 Appropriations Limit 139,116,776 $
Growth Factor x 1.055471
FY 2024 APPROPRIATIONS LIMIT $ 146,833,723
FY 2024 Appropriations from Proceeds of Taxes All Funds $ 50,904,191 Notes:
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: AFBD8303-E395-4CF6-9EC9-DAE6951FD871