HomeMy WebLinkAboutReso 50-24 Item 5.11 Adopting an Appropriations Limit for Fiscal Year 2024-25.pdfDocuSign Envelope ID: 18F374E7-BB2F-42F5-82C6-28ABC1B2890E
RESOLUTION NO. 50 — 24
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ADOPTING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 2024-25
WHEREAS, State law requires that an Appropriations Limit be adopted by the City Council
in conjunction with the Annual Budget process; and
WHEREAS, Article XIII B of the California Constitution places certain restrictions on
appropriations made by cities; and
WHEREAS, the restrictions are applicable to appropriations, which meet the definition of a
"Proceeds of Taxes"; and
WHEREAS, the law allows the option to select the factors to be used in the calculation of
the Appropriations Limit; and
WHEREAS, one of the adjustment factors the City must select between is: (A) the change
in City population, or (B) Countywide population. The City has selected the change in City
population; and
WHEREAS, for the second adjustment factor, the City must select between: (1) the change
in the State per capita income, or, (2) the change in the assessed valuation of local non-residential
New construction. The City has selected the change in the State per capita income.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does
hereby adopt the Fiscal Year 2024-25 City of Dublin Appropriations Limit as $485,074,181.
BE IT FURTHER RESOLVED that the limit has been calculated in accordance with State
Law and is shown in Exhibit A, attached hereto.
PASSED, APPROVED AND ADOPTED this 4th day of June 2024, by the following vote:
AYES: Councilmembers Josey, McCorriston, Qaadri and Mayor Pro Tempore Hu
NOES:
ABSENT:
ABSTAIN:
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ATTEST:
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Reso. No. 50-24, Item 5.11, Adopted 06/04/2024 Page 1 of 1
DocuSign Envelope ID: 18F374E7-BB2F-42F5-82C6-28ABC1B2890E
Exhibit A
EXHIBIT A
CALCULATION OF FISCAL YEAR 2024-25 APPROPRIATIONS LIMIT
(Based on Fiscal Year 2023-24 Limit)
A. Selection of Optional Factors
1. Change in population — City vs. County.
1 Factors 1/1/2024 1/1/2023 % Increase
a. City of Dublin 71,575 71,600 -0.03%
1 b. County of Alameda 1,639,409 1,648,369 -0.54%
The City selected Factor la. City of Dublin population change -0.03%
2. Change in State per capita personal income vs. City non-residential building
construction.
Factors % Change
a. Change in State per capita personal income 3.62%
b. Change in non-residential assessed valuation 0.76%
The City selected Factor 2a. Change in State per capita personal income 3.62%.
B. Fiscal Year 2024-25 Growth Adiustment Factor
Calculation of factor for Fiscal Year 2024-25 = X*Y = 0.9997*1.0362 = 1.0359
X = Selected Factor #1 + 100 =-0.03+100 = 0.9997
100 100
Y = Selected Factor #2 + 100 = 3.62+100 = 1.0362
100 100
C. Calculation of Appropriations Limit
Fiscal Year 2023-24 Appropriations Limit $468,263,521
Fiscal Year 2024-25 Adjustment Factor x 1.0359
Fiscal Year 2024-25 Appropriations Limit $485,074,181