RESOLUTION NO. 24-60
Resolution Of The City Council Of The City Of Emeryville Adopting An Appropriations Limit For Fiscal Year 2025 Of $159,680,499 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 to calculate the Appropriations Limit; and WHEREAS, the calculation of the Appropriations Limit is shown in Exhibit 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 2025 Appropriations Limit is as follows:
1. Population: City population growth from January 1, 2023 to January 1, 2024 of 4.95%.
2. Inflation: California Per Capita Personal Income growth of 3.62%; and, be it, further RESOLVED, that the City Council of the City of Emeryville hereby establishes an Appropriations Limit for the Fiscal Year 2025 of $159,680,499.
ADOPTED, by the City Council of the City of Emeryville at a regular meeting held Tuesday, June 4, 2024, by the following vote:
AYES: 5
Mayor Welch, Vice Mayor Mourra and Council Members Bauters, Kaur and Priforce
NOES: 0
ABSTAIN: 0
ABSENT: 0
MAYOR
ATTEST: APPROVED AS TO FORM:
CITY CLERK CITY ATTORNEY
ATTACHMENT
Exhibit A – Fiscal Year 2025 Gann Appropriations Limit DocuSign Envelope ID: B83003F6-E9DA-4F9B-AC5F-B582CEE92865 City of Emeryville
Fiscal Year 2025 GANN Appropriations Limit
City Population County Population
Change Change
Population Adjustment 4.95% A -0.53% A
Per Capita
Income Change
Cost of Living Adjustment 3.62% B
FY 2025 GANN Limit Growth Factor
1 + Larger of City or County Population 104.95%
1 + Per Capita Income Change x 103.62%
FY 2025 INCREASE in Appropriations Limit 1.087492
FY 2024 Appropriations Limit 146,833,723 $
Growth Factor x 1.087492
FY 2025 APPROPRIATIONS LIMIT $ 159,680,499
FY 2025 Appropriations from Proceeds of Taxes All Funds $ 53,708,398 Notes:
A - California Department of Finance - Population Estimates for Cities, Counties, and State, Dated April 30, 2024 B - California Department of Finance - Price Factor and Population Information, Dated April 30, 2024 DocuSign Envelope ID: B83003F6-E9DA-4F9B-AC5F-B582CEE92865