City Council
MEETING DATE: 5/24/2017
TITLE:
Title
Appropriations Limit for Fiscal Year 2017-2018
End
FROM:
Tami Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Staff recommends the City Council approve the city’s appropriations limit for the 2017-2018 Gann Initiative Limitation.
Body
BACKGROUND:
Each fiscal year, the City Council must adopt a resolution establishing a Gann Initiative Limitation. Council has before them a request to approve the 2017-2018 Gann Initiative Limitation.
DISCUSSION:
The Gann Initiative Limitation for a fiscal year cannot be calculated until the per capita income change factor and the population change factor are provided by the State of California, Department of Finance. This information is usually made available in early May of each year prior to the effective fiscal year.
The attached summary and calculation demonstrates tax revenues of the City of Cathedral City are currently estimated at approximately 43.8% of the Gann limit, which indicates the City is not overtaxing its citizens. Approval of this Gann Initiative Limitation is required by statute before the start of each fiscal year.
FISCAL IMPACT:
N/A
ATTACHMENTS:
Gann Limit Narrative _FY18
Gann Limit Calculation_FY18
Gann Limit Resolution _FY18