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CITY OF SAN MATEO
RESOLUTION NO. ______ (2024)
ESTABLISHING THE CITY’S APPROPRIATIONS LIMIT FOR FISCAL YEAR 2024-25
WHEREAS, under Article XIII B of the California Constitution and Government Code sections 7900 and following, the City is required to establish an annual appropriations limit based on revenues obtained from the proceeds of taxes; and
WHEREAS, the method and basis of calculating these limits was revised by Proposition 111, amending Article XIII B of the State Constitution, and the implementing legislation, to allow election of the basis for population adjustment between the change in population in either the city or the county and an election of inflation factor between the growth of California per capita income or the growth of nonresidential assessed valuation due to new construction in the city; and
WHEREAS, the County of San Mateo population percentage change over the prior year is negative 0.50 percent and the growth in California per capita personal income is 3.62 percent;
WHEREAS, utilizing the population growth for the County of San Mateo and the growth in California per capital personal income yield the most favorable appropriations limit; and WHEREAS, the appropriations limit for 2024-25 is $268,524,256 and the estimated budgeted proceeds from taxes are $142,816,000.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN MATEO, CALIFORNIA, RESOLVES, that:
1.In accordance with Public Resources Code Section 21065, this action is exempt from review under the California Environmental Quality Act because it can be seen with certainty that it will not have a significant impact on the environment.
2.The City Council finds that the adjustment factors shall be based on the County’s population growth and the growth in California per capita income to determine the appropriations limit for the fiscal year 2024-25.
3.The City Council approves the appropriation limit on revenue obtained from the proceeds of taxes for fiscal year 2024-25 to be $268,524,256 using the selected adjustment factors.