HomeMy WebLinkAboutCC RES 24-41DocuSign Envelope ID: 23DDF1C7-E4EF-4D43-92E8-855663C2B262
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA,
DETERMINING AND ADOPTING AN APPROPRIATION LIMIT FOR THE FISCAL
YEAR 2024-2025 IN ACCORDANCE WITH ARTICLE XIII B OF THE
CONSTITUTION OF THE STATE OF CALIFORNIA, AND SECTION 7910 OF THE
GOVERNMENT CODE
The City Council of the City of Tustin does hereby resolve as follows:
WHEREAS, Article XIII B was added to the Constitution of the State of California
at a general election held on November 6, 1989; and
WHEREAS, an annual appropriation limit must be determined for this City effective
for the Fiscal Year beginning July 1, 2024; and
WHEREAS, the appropriation limit must be adhered to in preparing and adopting
this City's Annual Budget;
NOW, THEREFORE, the City Council of the City of Tustin does hereby resolve
and order as follows:
Section 1: In accordance with Article XIII B of the Constitution of the State of
California, and Section 7910 of the Government Code, and as set forth in detail in the
attached Exhibit "A", that the appropriation limit for the Fiscal Year beginning July 1, 2024,
through June 30, 2025, is $123,083,568.
Section 2: The appropriation limit shall not be exceeded in the adopted budget
or by any proposed amendment to the budget.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Tustin held on the 18t" day of June 2024.
Docu Signed by:
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AU N1LFQI4BARD,
Mayor
ATTEST:
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DocuSigned by:
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E R I`C—ADWoYAS1JoDA,
City Clerk
Resolution 24-41
Page 1 of 2
DocuSign Envelope ID: 23DDF1C7-E4EF-4D43-92E8-855663C2B262
APPROVED AS TO FORM:
F
ned by:
bAvftY'S."KF-NDIG,
City Attorney
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
I, Erica N. Yasuda, City Clerk and ex-officio Clerk of the City Council of the City of
Tustin, California, do hereby certify that the whole number of the members of the City
Council of the City of Tustin is five; that the above and foregoing Resolution No. 24-41
was duly passed and adopted at a regular meeting of the Tustin City Council, held on
the 18t" day of June 2024, by the following vote:
COUNCILMEMBER AYES: Lumbard, Gallagher, Clark, Gomez, Schnell (5)
COUNCILMEMBER NOES: (0)
COUNCILMEMBER ABSTAINED:
COUNCILMEMBER ABSENT:
COUNCILMEMBER RECUSED:
DS
FDocuSigned by: roe
;Ca aw-
E R 9WOTASU DA,
City Clerk
Resolution 24-41
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DocuSign Envelope ID: 23DDF1C7-E4EF-4D43-92E8-855663C2B262
WP0111:j11_1
Appropriations Limit
City of Tustin
Fiscal Year 2024-2025
AMOUNT
Last Year's Limit (2023-2024) $118,286,797
Adjustment Factors
1. Population0) 1.0042
2. Change in per Capita Personal Income (2) 1.0362
Total Adjustment FactorP) 1.0406
Total Adjustments $4,796,771
Appropriations Limit for Fiscal Year 2024-2025 $123,083,568
Appropriations Subject to Limit:
Proceeds of Taxes $68,943,944
Minus Exclusions -
Appropriations Subject to Limit $68,943,944
Fiscal Year 2024-2025 Appropriations Limit $123,083,568
Less Appropriations Subject to the Limit $ 68,943,944
Difference Under the Limit $ 54,139,624
0)The population factor may be based on the change in the population of 1) the City; or 2)
the County of Orange, as provided by the State of California's Department of Finance. The
population factor adopted by the City for the current year's appropriation limit represents
the change in the population of the City of Tustin.
(2)The inflation factor may be based on 1) the change in per capita personal income for the
State of California as provided by the State of California's Department of Finance; or 2)
the change in assessed valuation due to new nonresidential construction within the City.
The inflation factor adopted by the City for the current year's appropriation limit represents
the change in per capita personal income.
P)The total adjustment factor is calculated by multiplying the population factor by the inflation
factor.