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R-10411City Council Meeting 6-23-09 Santa Monica, California RESOLUTION NO. 10411 (CCS) (CITY COUNCIL SERIES) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA ESTABLISHING THE GANN APPROPRIATIONS LIMIT FOR THE FISCAL YEAR 2009-10 WHEREAS, the City Council is required under the provisions of Government Code Section 7910 and Article XIIIB of the California Constitution to establish its appropriations limit by resolution; and WHEREAS, documentation used in the determination of the appropriations limit has .been available to the public for fifteen days prior to this meeting as required by Government Code Section 7910. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS FOLLOWS; SECTION 1. For purposes of Article XIIIB of the California Constitution, the City of Santa Monica appropriations limit for the fiscal year 2009-10 shall be $864,519,492 SECTION 2. The City Clerk shall certify to the adoption of the Resolution, and thenceforth and thereafter the same shall be in full force and effect. APPROVED AS TO FORM: ~~~ MA 'HA J S MOUT IE City Attorn 1 ATTACHMENT F2 GANN Appropriations Limit The GANN Limit was approved on November 6, 1979, by California voters. Under the GANN Limit, a maximum amount is established for tax-funded government services. That amount is to be adjusted each year depending on changes in state population, inflation and the transfer of financial responsibility for various government activities from one level of government to another. Any significant amount of state tax revenue received above that GANN Limit is to lead to future tax rebates or tax cuts. City of Santa Monica, California GANN Appropriations Limit Calculation for FY2009-10 FY2008-09 GANN Appropriations Limit (a) Adjustment Factors Allowable FY2009-10 Adjustment: Non-Residential Assessed VaWation Change (b) City Population Change (c) $ 723,628,090 1.1745 times 1.0172 = X 1.1947 FY2009-10 GANN Appropriations Limit $ 864,519,492 (a) As adopted by the City Council on June 17, 2008 (Resolution No. 10312) (b) Based on assessed valuation data provided by the Los Angeles CountyAssessor for FY2008-09 (c) Per State Department of Finance, May 2009 Adopted and approved this 23~d day of June, 2009. Ken Censer, ayor I, Maria Stewart, City Clerk of the City of Santa Monica, do hereby certify that the foregoing Resolution No. 10411 (CCS) was duly adopted at a meeting of the Santa Monica City Council held on the 23rd day of June, 2009, by the following vote: Ayes: Council members: Bloom, Davis, Holbrook, McKeown Mayor Censer, Mayor Pro Tem O'Connor Noes: Council members: None Abstain: Council members: None Absent: Council members: Shriver ATTEST: Maria Stewart, City CI rk