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1 RiversideCA.gov
1 RiversideCA.gov
City Council
June 7, 2022
FISCAL YEAR 2022-23 ANNUAL
APPROPRIATIONS LIMIT
Finance Department
RiversideCA.gov
2 • November 1979 – Gann Initiative adopted
• Appropriation limit applies to revenues defined as
proceeds from taxes
– Some exclusions such as debt service
BACKGROUND
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3 • Two variables provided annually by the State:
– Change in the cost of living
– Change in population, excluding federal and state
institutionalized populations and military populations
• The State provides example calculation methodology
DISCUSSION
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4 Calculated Limit $400,803,266
Estimated proceeds from taxes $346,299,344
Debt Service Exclusion (35,888,613)
Amount subject to Limit $310,410,731
Difference $90,392,535
22.6%
FY 2022-23 APPROPRIATIONS LIMIT
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5 STRATEGIC PLAN ALIGNMENT
Strategic Priority No. 5 – High Performing Government
Goal No. 5.3 - Enhance communication and collaboration with community members to improve transparency, build public trust and encourage shared decision making.
Cross-Cutting Threads
Community Trust Equity Innovation
Fiscal
Responsibility
Sustainability and
Resiliency
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6 That the City Council provide the public, in accordance with Section 7910 of the Government Code, an
opportunity to review the information used to develop
the Appropriations Limit of $400,803,266 for Fiscal Year 2022/23.
RECOMMENDATIONS
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