Title
HEARING - Auditor-Controller recommending the Board adopt and authorize the Chair to sign the attached Resolution 100-2024 for the Appropriations Limit for Fiscal Year 2024-25.
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 2024-2025 has been computed.
Attachment B (Attachment I to the Auditor's letter) presents a comparison of the “adopted limits” and actual “tax proceeds” for prior fiscal periods and an estimate of the current fiscal period.
Attachment C (Attachment II to the Auditor's letter) presents the schedule detailing the Proposition 4 compliance for Fiscal Year 2022-2023 actual revenues.
Attachment D (Attachment III to the Auditor's letter) presents the schedule detailing a projection of Proposition 4 compliance for Fiscal Year 2023-2024 adopted revenues.
ALTERNATIVES
N/A
PRIOR BOARD ACTION
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
There is no fiscal impact.
CLERK OF THE BOARD FOLLOW UP ACTIONS
Forward one executed Resolution to the Auditor-Controller's Office.
STRATEGIC PLAN COMPONENT
N/A
CONTACT
Joe Harn, Auditor-Controller