RESOLUTION NO. 2023-10
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF VERNON
ADOPTING THE APPROPRIATIONS LIMIT FOR FISCAL YEAR 2023- 2024, PURSUANT TO GOVERNMENT CODE SECTION 7910
SECTION 1. Recitals.
A. Government Code Section 7910 (GANN initiative), passed by California voters on November 6, 1979, requires the governing body of each local jurisdiction to establish by resolution an appropriations limit for each fiscal year.
B. Proposition 111 was passed by California voters on June 5, 1990, and sets forth the options for making annual adjustments to the appropriations limit based on various growth factors. The annual inflation factor may be either the growth in California per capita income or growth in non-residential assessed valuation due to new construction within the City; and the population factor may reflect the population growth either in the City or in the County of Los Angeles.
C. The City calculated its appropriations limit based on the non-residential assessed valuation due to new construction as its annual inflation factor and the County’s population growth as its annual population growth factors for Fiscal Year 2021-2022, 2022-2023, and 2023-2024.
D. The documentation used in the determination of the appropriations limit has been made available for inspection by the public at least fifteen (15) days prior to the hearing.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VERNON AS FOLLOWS:
SECTION 2. The City Council of the City of Vernon hereby finds and determines that the above recitals are true and correct.
SECTION 3. The City Council hereby establishes $2,626,172,281 as the amount of the appropriations limit for fiscal year 2023-2024, in accordance with the provisions of Government Code Section 7910 and Proposition 111.
The computation for fiscal year 2023-2024 is as follows:
2023-2024 APPROPRIATIONS LIMIT CALCULATION
2022-2023 Appropriations Limit $2,380,154,189
Increase in Nonresidential Construction: 11.17%
Los Angeles County population change: -0.75%
1.1117 x 0.9925= x 1.103362
$2,626,172,281
Resolution No. 2023-10
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SECTION 4. The City Council approved the Fiscal Year 2023-2024 Budget by adoption of a resolution, which did not exceed the appropriations limit for Fiscal Year 2023-2024.
SECTION 5. The City Clerk shall certify the passage and adoption of this resolution and enter it into the book of original resolutions.
APPROVED AND ADOPTED June 6, 2023.
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CRYSTAL LARIOS, Mayor
ATTEST:
LISA POPE, City Clerk
(seal)
APPROVED AS TO FORM:
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ZAYNAH N. MOUSSA, City Attorney