Exhibit I
City of San Clemente
Article XIII B: Appropriations Limit Computation
For The Fiscal Year 2023-24
1. Appropriations limit for FY 2022-23 $ 109,164,448 (1)
2. Annual Adjustment Factor
a. Per capita personal income change 4.44% (2)
b. Population change -0.31% (3)
(1.044 times 0.997) 1.04116236
3. FY 2023-24 limit times annual adjustment factor 113,657,914
4. Less FY 2022-23 excess user fees or other alterations 0
5. Appropriations Limit for FY 2023-24 113,657,914
6. FY 2023-24 proceeds from taxes 61,698,135
7. Margin $ 51,959,779
Notes:
(1) Established by Resolution 22-25
(2) Source is the State Department of Finance
(3) The higher of the City population change or the total County population change is used for this factor. For FY 2023-24, the City change exceeds the County. The difference in City population of 63,237 at 1/2023 and population of 63,431 at 1/2022 divided by 63,431 = -0.31%
Attachment 2