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2011-037 - FY 11/12 GANN AppropriationsRESOLUTION 2011 -037 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 $28,667,689 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: Steven Leonardis, Diane McNutt, Steve Rice, Barbara Spector, and Mayor Joe Pirzynski NAYS: ABSENT: ABSTAIN: SIGNED: MAYOR FTHETOWN OF LOS GATOS LOS GATOS, CALIFORNIA ATTE CLE ISTRATOR OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA APPROPRIATION LIMIT FACTORS For Beginning YE Appropriation June 30 Limit 2002 18,973,081 2003 20,757,490 2004 20,750,044 2005 21,397,082 2006 22,258,018 2007 23,691,192 2008 24,919,990 2009 26,416,980 2010 28,426,367 2011 29;048;811 County Town Population Population Factor Factor 1.0147 1.0107 1.0125 1.0051 1.0079 1.0010 1.0072 1.0004 1.0112 1.0026 1.0118 1.0044 1.0152 1.0100 1.0172 1.0318 1.0156 1.0108 _ 1,0126 _W101 Per Ending % Capita Appropriation Limit Income Limit Increase 1.0782 20,757.490; 9.40% 0.9873 20,750044' -0.04% 1.0231 21,397,082 ? 3.12% 1.0328 22,258,018 4.02% 1.0526 - 23,691,192 - 6.44% 1.0396 24,919,990 - 5.19% 1.0442 26,416,980 6.01% 1.0429 - 28,426,367 7.61% 1.0062 29,048,811 2.19% 0.9746 28,667,689 -131%_'_ FY 2010/11 Calculation % Increase in Change in 2009/10 2010/11 County Per Capita Appropriation Appropriation Appropriation Population Income Factor Limit Limit 1.0126 X 0.9746 = 0.98687996 X $ 29,048,811 = $ 28,667,689 Percentage of ADnroDriation 2010/11 2010111 Percentage Tax Appropriation of Revenues Limit Limit 21,155,598 / $ 28,667,689 = 74%