Legislation Details

File #: 14-5472    Version: 1 Name:
Type: Report Status: Consent Calendar
File created: 6/18/2024 In control: City Council
On agenda: 6/25/2024 Final action:
Title: Resolution Approving the Correction of the Fiscal Year 2022-23 and 2023-24 Appropriation Limits and Adopting the Annual Appropriations Limit for Fiscal Year 2024-25
Attachments: 1. Staff Report, 2. Resolution -- FY 24 - 25, 3. Resolution -- FY 22 - 23, 4. Resolution -- FY 23 -24 Amendment
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Title

Resolution Approving the Correction of the Fiscal Year 2022-23 and 2023-24 Appropriation Limits and Adopting the Annual Appropriations Limit for Fiscal Year 2024-25

Recommendation

The City Council will consider for adoption two (2) Resolutions approving revisions to the Resolutions establishing the Gann appropriation limit for the fiscal years 2022-2023 and 2023-2024, and find that the adopted appropriations are within the limit, and will consider adopting a Resolution adopting the annual appropriations Limit for Fiscal Year 2024-2025 selecting the California per capita personal income price factor of 3.62 and Commerce’s population growth of 0.57 as the annual adjustment factors used in calculating the appropriation limit for the City of Commerce.