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1 RiversideCA.gov
1 RiversideCA.gov
FISCAL YEAR 2023/24
ANNUAL APPROPRIATIONS LIMIT
City Council
June 6, 2023
Finance Department
RiversideCA.gov
2 BACKGROUND
• November 1979 – Gann Initiative adopted
• Appropriation limit applies to revenues defined as
proceeds from taxes
– Some exclusions such as debt service
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3 DISCUSSION
• 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
RiversideCA.gov
4 Calculated Limit $413,103,814
Estimated Proceeds from Taxes $375,357,036
Debt Service Exclusion (25,768,738)
Appropriations Subject to Limit $349,588,284
Difference $ 63,515,515
15.4%
FY 2023-24 Appropriations Limit
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3 RiversideCA.gov
5 Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
Strategic Priority 5 – High Performing Government
Goal 5.3: Enhance communication and collaboration with community members to improve transparency, build public trust and encourage shared decision making.
RiversideCA.gov
6 That the City Council provides the public, in accordance with Section 7910 of the Government Code, an
opportunity to review the information used to develop the Appropriations Limit of $413,103,814 for Fiscal Year 2023/24.
RECOMMENDATION
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