RESOLUTION NO. R-2023-43
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PLACENTIA, CALIFORNIA APPROVING AND ADOPTING
THE ANNUAL APPROPRIATIONS LIMIT FOR THE FISCAL
YEAR 2023-24 IN THE AMOUNT OF $112,870,414
A. Recitals.
(i) The voters of California on November 6, 1979, added Article XIIIB to the State Constitution placing various limitations on the appropriations of the State and local governments; and
(ii) Article XIIIB, as amended in 1990, provides that the appropriations limit for the Fiscal Year 2023-24 is calculated by adjusting the base year appropriations of Fiscal Year 1986-87 for changes in the cost of living and population; and (iii) The City of Placentia has complied with all of the provisions of Article XIIIB in determining the appropriations limit for the Fiscal Year 2023-24.
B. Resolution.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLACENTIA DOES HEREBY FIND, DETERMINE AND RESOLVE AS FOLLOWS:
1. That the appropriations limit in Fiscal Year 2023-24 shall be based on the 2022-23 appropriation limit of $108,567,534 as established by Resolution No. R-2022- 44, and adjusted based on Proposition 111 guidelines by the California Per Capita Personal Income change of +4.44% and the Orange County population change of -0.46% as reported by the State Department of Finance during May 2023, thus creating a new appropriations limit for Fiscal Year 2023-24 in the amount of $112,870,414.
PASSED, ADOPTED AND APPROVED this 6th day of June 2023.
Ward L. Smith, Mayor
Resolution R-2023-43 ATTACHMENT 3
ATTEST:
Robert S. McKinnell, City Clerk
STATE OF CALIFORNIA
COUNTY OF ORANGE
I, Robert S. McKinnell, City Clerk of the City of Placentia, California, do hereby certify that the foregoing Resolution, was duly passed, approved and adopted by City Council, approved and signed by the Mayor and attested by the City Clerk, all at the regular meeting of the said City Council held on the 6th day of June 2023 and the same was passed and adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Councilmembers:
Councilmembers:
Councilmembers:
Councilmembers:
APPROVED AS TO FORM:
Christian L. Bettenhausen, City Attorney
Attachments:
Exhibit A
Robert S. McKinnell, City Clerk
Resolution R-2023-43 ATTACHMENT 3
EXHIBIT A
Appropriations Limit
City of Placentia
Fiscal Year 2023-24
Last Year's Limit (2022-23)
Adjustment Factors
1) Populationm
2) Inflation(2)
Total Adjustment Factor(3)
Total Adjustments
Appropriations Limit for Fiscal Year 2023-24
Appropriations Subject to Limit:
Proceeds of Taxes
Minus Exclusions
Appropriations Subject to the Limit
Fiscal Year 2023-24 Appropriations Limit
Less Appropriations Subject to the Limit
Difference Under the Limit
Amount
$108,567,534
0.9954
1.0444
1.0396
4,302,880
$112,870,414
$49,434,068
49,434,068
112,870,414
49,434,068
$63,436,346
(1) The population factor may be based on the change in population of 1) the City; or 2) the County of Orange, as provided by the State of California's Department of Finance. The population factor adopted by the City for the current year appropriation limit represents the change in the population of the County of Orange.
(2) The inflation factor may be based on 1) the change in per capita personal income for the State of California as provided by the State of California's Department of Finance; or 2) the change in assessed valuation due to new nonresidential construction within the City. The inflation factor adopted by the City for the current year appropriation limit represents the change in per capita personal income for the State of California as provided by the State of California Department of Finance. (3) The total adjustment factor is calculated by multiplying the population factor by the information factor.