Title
Auditor-Controller's Office recommending the Board receive and file the report on “Comparison of Actual Tax Proceeds to Adopted Appropriations Limit”, the schedule of Prop 4 Compliance for FY 2023-2024 Actual Revenues, the schedule of Prop 4 Compliance for FY 2024-2025 Adopted Revenues, and set a public hearing for June 24, 2025 at 9:00 AM for the discussion and adoption of the Appropriations Limit for Fiscal Year 2025-2026.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
In accordance with the provisions of the spending limitation legislation implementing Proposition 4 (1979 Gann Initiative), before considering the adoption of a budget for the next fiscal year, your Board should adopt a new appropriations limit. Government Code Section 7910 requires that the governing body of each local jurisdiction establish its appropriations limit by resolution for the following fiscal year at a regular or special meeting. The law provides that your Board should hold a hearing for the purpose of receiving testimony and other evidence regarding the appropriations limit, and that the data used in developing the proposed limit be available for more than fifteen (15) days prior to the hearing. The data used in developing the growth over the prior limit has been made available and the proposed limit for Fiscal Year 2025-2026 has been computed.
Attachment I presents a comparison of the “adopted limits” and actual “tax proceeds” for prior fiscal periods and an estimate of the current fiscal period.
Attachment II presents the schedule detailing the Proposition 4 compliance for Fiscal Year 2023-2024 actual revenues.
Attachment III presents the schedule detailing a projection of Proposition 4 compliance for Fiscal Year 2024-2025 adopted revenues.
ALTERNATIVES
N/A
PRIOR BOARD ACTION
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
[This section is completed by the CAO's Office. This section is required]
FINANCIAL IMPACT
There is no fiscal impact.
CLERK OF THE BOARD FOLLOW UP ACTIONS
Set June 24, 2025 at 9:00 AM for the public hearing and adoption of the Appropriations Limit resolution.
STRATEGIC PLAN COMPONENT
N/A
CONTACT
Joe Harn