June 21, 2022
Finance Department
DATE: June 21, 2022
TO: Mayor Butt and Members of the City Council
FROM:
Delmy Cuellar, Director of Finance
Mubeen Qader, Budget Administrator
Subject:
Fiscal Year 2022-2023 Annual Appropriations Limit
FINANCIAL IMPACT: Adoption of the resolution establishes the appropriations limit for Fiscal Year 2022-2023 in the amount of
$473,560,478.
PREVIOUS COUNCIL
ACTION:
June 29, 2021
STATEMENT OF THE
ISSUE:
The Fiscal Year 2022-2023 appropriations limit for the
City of Richmond is required to be established and
adopted pursuant to Article XIIIB of the Constitution of the State of California.
RECOMMENDED ACTION:
ADOPT a resolution approving the Fiscal Year 2022-
2023 appropriations limit for the City of Richmond
pursuant to Article XIIIB of the Constitution of the State of California – Finance Department (Delmy Cuellar/Mubeen
Qader 510-412-2077).
AGENDA
REPORT
June 21, 2022
DISCUSSION:
Article XIIIB of the California Constitution, passed by California voters in 1979, establishes an annual limitation on appropriations of tax proceeds for all municipalities.
Article XIIIB requires all local government entities to establish annual appropriations limits. The limitation is calculated by using appropriations of 1979 as the base year and adjusting for changes in growth of inflation and population. California Government Code Section 7910 requires each local government to establish its appropriations limit by resolution. Adoption of the attached resolution will approve the Fiscal Year 2022-2023 appropriations limit. For Fiscal Year 2022-2023, the appropriations limit has been determined to be $473,560,478. The City’s appropriations subject to the limit total is substantially lower than the limit.
DOCUMENTS ATTACHED:
Attachment 1 – Resolution – Appropriations Limit FY 2022-2023