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2014-039 - Establish FY 2014-15 GANN Appropriations LimitRESOLUTION 2014 -039 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ESTABLISHING THE FY 2014/15 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 2014/15 is $33,701,485 as reflected in Exhibit A. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos, California, held on the 2`d day of June 2014 by the following vote: COUNCIL MEMBERS: AYES: Marcia Jensen, Diane McNutt, Joe Pirzynski, Barbara Spector, Mayor Steven Leonardis NAYS: ABSENT: ABSTAIN: MAYOR OF THE TOWN O&k2SgATOS LOS GATOS, CALIFORNIA ATTEST: CLERK ADMINISTRATOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA APPROPRIATION LIMIT FACTORS For Beginning County Town Per Ending YE Appropriation Population Population Capita Appropriation June 30 Limit Factor Factor Income Limit 2006 22,258,018 1.0112 1.0026 1.0526 23,691,192 2007 23,691,192 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 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 2015 33,279,977 1.0150 1.0120 0.9977 33,701,485 FY2014/15 Calculation % Increase in Change in 2013/14 2014115 County Per Capita Appropriation Appropriation Appropriation Population Income Factor Limit Limit 1.0150 X 0.9977 = 1.0126655 X $ 33,279,977 = $ 33,701,485 Percentage of Appropriation 2014/15 2014/15 Percentage Tax Appropriation of Revenues Limit Limit 22,383,532 / $ 33,701,485 = 66% Limit Increase 6.44% 5.19% 6.01% 7.61% 2.19% -1.31% 3.49% 5.06% 6.77% 1.27% EXHIBIT A RESOLUTION 2014 -064 RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ESTABLISHING THE FY 2014/15 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 2014/15 is $33,701,485 as reflected in Exhibit A. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos, California, held on the 2d day of June 2014 by the following vote: COUNCIL MEMBERS: AYES: NAYS: ABSENT: ABSTAIN: SIGNED MA"r�1 WN OF LOS GATOS LOS GATOS, CALIFORNIA ATTEST: �� CLERK ADMINISTRATOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA APPROPRIATION LIMIT FACTORS For Beginning County Town Per Ending % YE Appropriation Population Population Capita Appropriation Limit June 30 Limit Factor Factor Income Limit Increase 2006 22,258,018 1.0112 1.0026 1.0526 23,691,192 6.44 ° /a 2007 23,691,192 1.0118 1.0044 1.0396 24,919,990 5.19% 2008 24,919,990 1.0152 1.0100 1.0442 26,416,980 6.01% 2009 26,416,980 1.0172 1.0318 1.0429 28,426367 7.61% 2010 28,426367 1.0156 1.0108 1.0062 29,048,811 2.190/. 2011 29,048,811 1.0126 1.0101 0.9746 28,667,689 -1.31% 2012 28,667,689 1.0089 1.0096 1.0251 29,669366 3.49% 2013 29,669366 1.0124 1.0081 1.0377 31,169,671 5.06% 2014 31,169,671 1.0157 1.0147 1.0512 33279,977 6.77% 2015 33,279977 1.0150 1.0120 0.9977 33,701,485 1.27% FY 2014/15 Calculation % Increase in Change in 2013/14 2014/15 County Per Capita Appropriation Appropriation Appropriation Population Income Factor Limit Limit 1.0150 X 0.9977 = 1.0126655 X $ 33279,977 = $ 33,701,485 Percentage ofAoorooriation 2014/15 2014/15 Percentage Tax Appropriation of Revenues Limit Limit 22383,532 / $ 33,701,485 = 66% EXHIBIT A