1 MJK:rj A23-02176 (08-07-2023)
01557564.DOCX
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OFFICE OF THE CITY ATTORNEY
DAWN MCINTOSH, City Attorney
411 West Ocean Boulevard, 9th Floor
Long Beach, CA 90802-4664
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF LONG BEACH ADOPTING AN APPROPRIATIONS
LIMIT FOR THE CITY OF LONG BEACH FOR THE 2023-2024
FISCAL YEAR PURSUANT TO ARTICLE XIII(B) OF THE
CALIFORNIA CONSTITUTION
WHEREAS, Article XIII(B) of the California Constitution provides for an annual appropriations limit for state and local governments beginning with the 1980 -81 fiscal year, based on 1978-79 appropriations, as adjusted for specified annual changes in population and inflation; and
WHEREAS, Section 7910 of the Government Code also provides that fifteen (15) days prior to such meeting, documentation used in the determination of the appropriations limit shall be available to the public; and that each year the City Council shall, by resolution, establish the appropriations limit for the City of Long Beach for the following fiscal year; and
WHEREAS, Proposition 111 subsequently amended Articl e XIII(B) of the California Constitution to provide for certain revisions in the population and inflation factors used in the calculation of the appropriations limit and to provide for a recalculation of the appropriation limit date for the years 1987-88 through 1990-91; and WHEREAS, Proposition 111 provided that one factor that may be used in the calculation of the appropriations limit is the increase in local non-residential assessed value due to new construction; and
WHEREAS, the documentation which is a ttached hereto and made a part hereof as Exhibit “A” was used in the determination of the appropriations limit for the 2023- 2024 fiscal year, and has been available for public inspection in the office of the City Clerk since August 23, 2023;
RES-23-0131
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1 NOW, THEREFORE, the City Council of the City of Long Beach resolves as 2 follows:
3 Section 1 . The appropriations limit for the City of Long Beach for fiscal 4 year 2023-2024 shall be $966,768,944.
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Section 2. This resolution shall take effect immediately upon its adoption by the City Council, and the City Clerk shall certify the vote adopting this resolution.
I hereby certify that the foregoing resolution was adopted by the City Council of the City of Long Beach at its meeting of ___ ...;;;;S;..;:;e=p..;:.;te;;.;..m'""'b;;;..;e;;..;.r....;5;__ ___ , 2023, by the following vote:
Ayes:
Noes:
Absent:
Recusal(s):
MJK:rj A23-02176 (08-07-2023)
01557564.DOCX
Councilmembers:
Councilmembers:
Councilmembers:
Councilmembers:
Zendejas, Allen, Duggan, Supernaw, Kerr,
Saro, Austin, Ricks-Oddie.
None.
Uranga.
None.
2 EXHIBIT "A"
2022 ‐ 2023 Appropriations Limit: $929,760,175
Adjustment Factor (See Below): 1.039805
2023 ‐ 2024 Appropriations Limit: $966,768,944
Price Factor: 1.044400
Change in Per Capita Income
Department of Finance estimate pursuant
to Revenue Tax Code, Sec. 2227 and 2228,
California = 4.44%
Ratio = (4.44+100)/100 = 1.0444
Population Change: ‐0.44%
Department of Finance estimate pursuant
to Revenue Tax Code, Sec. 2227 and 2228,
California = ‐ 0.44%
Ratio = (‐0.44+100)/100 = 0.9956
Adjustment Factor: 1.039805
1.0444 x 0.9956
Factors were converted to ratios
per State guidelines.
Appropriated Tax Revenue: 515,501,873
Actual calculable revenue applied
towards Appropriations Limit
Exclusions From Taxable Proceeds ($51,926,170)
Revised Appropriated Tax Revenue 463,575,703
2023 ‐ 2024 Appropriations Limit: $966,768,944
Variance Between Revenue And Limit $503,193,242
2023 ‐ 2024 Percentage of Appropriations Limit: 47.95%
Prepared August 3, 2023
Budget Management Bureau
OF APPROPRIATIONS LIMIT
CALCULABLE REVENUE PERCENTAGE
III. DETERMINATION OF FISCAL YEAR 2023 ‐ 2024
CITY OF LONG BEACH
I. DETERMINATION OF FISCAL YEAR 2023 ‐ 2024
APPROPRIATIONS LIMIT
Based On Budgeted Revenues
II. DETERMINATION OF APPROPRIATIONS FACTOR