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2013-022 - Establish FY 2013/14 Appropriations LimitRESOLUTION 2013 -022 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ESTABLISHING THE FY 2013/14 APPROPRIATIONS LIMIT FOR THE TOWN OF LOS GATOS WHEREAS, Article XIIIB of the California Constitution (Limitation of Government Appropriations) was passed by the California electorate on November 6, 1979, and became effective on July 1, 1980; and WHEREAS, Chapter 1205, Statute of 1980, Section 7900 of the California Government Code formally implements methods for governmental entities to establish and define annual appropriations limits; and WHEREAS, the growth factors used to calculate the Annual Appropriations Limit are County or Town population change and the increase in the California per capita income. THEREFORE, BE IT RESOLVED, that the Annual Appropriations Limit for the Town of Los Gatos for FY 2013/14 is $33,279,977 as reflected in Exhibit A. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos held on the 6th day of May, 2013 by the following vote: COUNCIL MEMBERS: AYES: Marcia Jensen, Steven Leonardis, Diane McNutt, Joe Pirzynski, and Mayor Barbara Spector NAYS: ABSENT: ABSTAIN: ATTEST: E OF THE TOWN OF LOS GATOS OS TOS, CALIFORNIA 3ATOS APPROPRIATION LIMIT FACTORS For Beginning County Town Per Ending YE Appropriation Population Population Capita Appropriation June 30 Limit Factor Factor Income Limit 2005 21,397,082 1.0072 1.0004 1.0328 22,258,018 2006 22,258,018 r 1.0112 1.0026 1 1.0526 23,691,192 2007 23,691,192 r 1.0118 1.0044 1.0396 24,919,990 2008 24,919,990 1.0152 1.0100 1.0442 26,416,980 2009 26,416,980 1.0172 1.0318 1.0429 r 28,426 ,367 2010 28,426,367 1.0156 1.0108 1.0062 29,048,811 2011 29,048,811 1.0126 1.0101 0.9746 28,667,689 2012 28,667,689 1.0089 1.0096 1.0251 29,669,366 2013 29,669,366 1.0124 1.0081 1.0377 31,169,671 2014 31,169,671 1.0157 1.0147 1.0512 33,279,977 FY 2013/14 Calculation % Increase in Change in 2012/13 2013/14 County Per Capita Appropriation Appropriation Appropriation Population Income Factor Limit Limit 1.0157 X 1.0512 = 1.06770384 X $ 31,169,671 = $ 33,279,977 Percentage of Appropriation 2013/14 2013/14 Percentage Tax Appropriation of Revenues Limit Limit 20,917,770 / $ 33,279,977 = 63% 2 Limit Increase 4.02% 6.44% 5.19% 6.01% 7.61% 2.19% - 1.31% 3.49% 5.06% 6.77% EXHIBIT A