Exhibit I
City of San Clemente
Article XIII B: Appropriations Limit Computation
For The Fiscal Year 2024-25
1. Appropriations limit for FY 2023-24 $ 113,657,914 (1)
2. Annual Adjustment Factor
a. Per capita personal income change 3.62% (2)
b. Population change 0.31% (3)
(1.036 times 1.003) 1.03941222
3. FY 2024-25 limit times annual adjustment factor 118,137,425
4. Less FY 2023-24 excess user fees or other alterations 0
5. Appropriations Limit for FY 2024-25 118,137,425
6. FY 2024-25 proceeds from taxes 65,025,124
7. Margin $ 53,112,301
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 2024-25, the County change exceeds the City. The difference in City population of 62,297 at 1/2024 and population of 62,481 at 1/2023 divided by 62,481 = -0.29% and the County change is 0.31%.