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2011060601 - FY2011/12 Gann Appropriations LimitMEETING DATE: JUNE 6, 2011 ITEM NO: COUNCIL AGENDA REPORT DATE: May 23, 2011 TO: MAYOR AND TOWN COUNCIL FROM: GREG LARSON, TOWN MANAGER SUBJECT: ADOPT RESOLUTION ESTABLISHING THE FY 2011/12 GANN APPROPRIATIONS LIMIT FOR THE TOWN OF LOS GATOS RECOMMENDATION: Adopt the attached resolution establishing the Gann Appropriations Limit for FY 2011/12 (Attachment 1). BACKGROUND: On November 6, 1979, California voters approved Proposition 4, commonly known as the Gann Spending Limitation Initiative, establishing Article XIIIB of the California State Constitution. This proposition, which became effective in FY 1980/81, mandated an appropriations (spending) limit on the amount of tax proceeds that the State and most local government jurisdictions may appropriate within a fiscal year. Charges for services, fees, grants, loans, donations and other non -tax proceeds are excluded. Exemptions are also made for voter -approved debt prior to January 1, 1979 and the cost of court -related or Federal government mandates. The initiative was later modified by two propositions - Proposition 98 in 1988 and Proposition 111 in 1990. Proposition 98 established the return of tax revenues exceeding appropriation limit levels to the State or citizens through a process of refunds, rebates, or other means. Proposition 111 allowed more flexibility in the appropriation calculation factors. DISCUSSION: Attached for Council consideration is a resolution establishing an appropriations limit for FY 2011/12. The appropriations limit is based on population and per capita income data provided by the State of California Finance Department. In alignment with State guidelines, the PREPARED BY: Steve Conway, Finance and Administrative Services Director N:\FINANCE\COUNCIL\Council Staff Reports\Gann\FY 2012\FY 2011-12 Gann Limit.doc Reviewed by: P Assistant Town Manager Town Attorney Clerk Administrator iFinance ommunity Development PAGE 2 MAYOR AND TOWN COUNCIL SUBJECT: ADOPT RESOLUTION ESTABLISHING THE FY 2011/12 GANN APPROPRIATIONS LIMIT FOR THE TOWN OF LOS GATOS MAY 23, 2011 appropriation limit for FY 2011/12 was calculated using a factor comprised of the change in County or Town population (whichever is higher) and the change in California per capita personal income. Calculation of the FY 2011/12 Gann Appropriations Limit is as follows: FY 2011/12 Calculation % Increase in Change in 2010/11 2011/12 Town Per Capita Appropriation Appropriation Appropriation Population Income Factor Limit Limit 1.0096 X 1.0251 = 1.03494096 X $ 28,667,689 = $ 29,669,366 The appropriations limit is the total amount of tax money that can be appropriated by the Town in the FY 2011/12. The proposed FY 2011/12 budget anticipates $22,550,895 in taxes, which is $7,118,471 less than the appropriation limit of $29,669,366. CONCLUSION: It is recommended that the Council adopt the attached resolution establishing the FY 2011/12 Gann Appropriations Limit of approximately $29,669,366. ENVIRONMENTAL ASSESSMENT: Is not a project defined under CEQA, and no further action is required. Attachment: 1. Resolution establishing the Gann Appropriations Limit for FY 2011/12 RESOLUTION 2011- RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS ESTABLISHING THE FY 2011/12 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 2011/12 is $29,669,336 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 6th day of June 2011 by the following vote: COUNCIL MEMBERS: AYES: NAYS: ABSENT: ABSTAIN: SIGNED: MAYOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA ATTEST: CLERK ADMINISTRATOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA ATTACHMENT 1 APPROPRIATION LIMIT FACTORS For Beginning County Town YE Appropriation Population Population June 30 Limit Factor Factor 2003 20,757,490 1.0125 1.0051 2004 20,750, 044 1.0079 1.0010 2005 21,397,082 1.0072 1.0004 2006 22,258,018 1.0112 1.0026 2007 23,691,192 1.0118 1.0044 2008 24,919,990 1.0152 1.0100 2009 26,416,980 1.0172 1.0318 2010 28,426, 367 1.0156 1.0108 2011 29,048,811 1.0126 1.0101 2012 Per Capita Income FY 2011/12 Calculation 0.9873 1.0231 1.0328 1.0526 1.0396 1.0442 1.0429 1.0062 0.9746 Ending Appropriation Limit % Increase in Change in 2010/11 2011/12 Town Per Capita Appropriation Appropriation Appropriation Population Income Factor Limit Limit 1.0096 X 1.0251 = 1.03494096 X $ 28,667,689 = $ 29,669,366 Percentage of Appropriation 2011/12 2011/12 Percentage Tax Appropriation of Revenues Limit Limit 22,550,895 / $ 29,669,366 = 76% cvo Limit Increase -0.04% 3.12% 4.02% 6.44% 5.19% 6.01% 7.61 % 2.19% -1.31% EXHIBIT A