The computation consists of two (2) sections:
A. Last year's (2022-23) limit 293,178,870
B. Adjustment factors
a. City population % increase/(decrease) -0.12% = 0.9988 b. Per capita personal income % increase 4.44% = 1.0444 Total adjustment percent (a*b) 1.0431
C. Annual adjustment 12,649,707
D. Other adjustments -
Total adjustments 12,649,707
E. 2023-24 Appropriations Limit 305,828,577
Appropriations Subject to Limitation:
Proceeds of Taxes 127,640,551
Adjustment - State Subvention Pursuant to GC Section 7903 8,400,000 Exclusions -
Appropriations Subject to Limitation 136,040,551
2023-24 Limit 305,828,577
Amount over/(under) the Limitation (169,788,026)
All computations are based on the 2023-24 Adopted Budget.
As indicated by Schedules A and B, the increase to Pomona's Appropriations Limit is $12,649,707.
The 2023-24 Appropriations Limit is $305,828,577. The amount subject to limitation in the 2023-24 Adopted Budget is $136,040,551. The City of Pomona is $169,788,026 under its lawful limitation.
CITY OF POMONA
Exhibit A
Schedule A
2023-24 Appropriations Limit