HomeMy WebLinkAbout2023-061 Gann Limit for FY 2023-24RESOLUTION NO. 2023-61
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, ESTABLISHING THE APPROPRIATIONS GANN LIMIT FOR FY
2023-24 AND SELECTING THE POPULATION AND INFLATION FACTOR
ACCORDINGLY
Whereas, Voters approved Proposition 4, the “Gann Limit” Initiative, on November 6,
1979, in a statewide special election ballot as an initiated constitutional amendment, which
would limit the growth in appropriations, made by the state and individual local governments.
The limit in the rate of growth is the percentage increase in the cost of living and the percentage
increase in the state or local government's population. Require state and local governments to
return any funds to taxpayers in excess of the amount appropriated for a given fiscal year.
Require the state to reimburse local governments for the cost of complying with state mandates.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES
HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
Section 1. The Appropriations Limit will be calculated based on the changes in City
population and California per capita personal income.
Section 2. The Appropriations Limit for the City of Lake Elsinore for FY 2023-24,
attached hereto, (Exhibit A) is hereby adopted.
Section 3. The City Clerk shall certify to the adoption of this Resolution and shall cause
a certified Resolution to be filed in the office of the City Clerk.
Passed and Adopted at a regular meeting of the City Council of the City of Lake Elsinore,
California, this 11th day of July 2023.
Natasha Johnson
Mayor
Attest:
Candice Alvarez, MMC
City Clerk
DocuSign Envelope ID: BB650534-F7C2-449F-89C7-3642D0B86774
CC Reso. No. 2023-61
Page 2 of 2
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify
that Resolution No. 2023-61 was adopted by the City Council of the City of Lake Elsinore,
California, at the Regular meeting of July 11, 2023 and that the same was adopted by the
following vote:
AYES: Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor
Johnson
NOES: None
ABSENT: None
ABSTAIN: None
Candice Alvarez, MMC
City Clerk
DocuSign Envelope ID: BB650534-F7C2-449F-89C7-3642D0B86774
2022 - 2023 Appropriations Limit:123,526,080$
Price/Population Factor for FY 2020-2021: X =1.0441911
2023-2024 Appropriations Limit:128,984,827$
Amount subject to the limit 46,864,189$
Is the amount subject to the limit below the limit?Yes
B
Change in Per
Capita Personal
Income:B
City
Population
Factor:
4.44 -0.02
2022 - 2023 factors
converted to a ratio:1.0444 0.9998
Appropriations Limit
6/30/2023
CITY OF LAKE ELSINORE
DocuSign Envelope ID: BB650534-F7C2-449F-89C7-3642D0B86774