RESOLUTION NO. _____
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: E08A709D-ED9D-4AAC-A070-F62367140C78 Resolution No. _____
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:
NOES:
ABSTAIN:
ABSENT:
MAYOR
ATTEST: APPROVED AS TO FORM:
CITY CLERK CITY ATTORNEY
DocuSign Envelope ID: E08A709D-ED9D-4AAC-A070-F62367140C78