R10892ATTACHMENT E
City Council Meeting: June 23, 2015 Santa Monica, California
RESOLUTION NO. /�j2(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 2015 -16
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, pursuant to Government Code sections 7901 and 7910, the final
calculation of the appropriations limit has been determined, and the adjustment factors
on which the calculation is based are a 9.90% change in non - residential assessed
valuation and a 1.14% change in population growth for the City of Santa Monica; and
WHEREAS, documentation used in the determination of the appropriations limit
has been available to the public for fifteen (15) 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 2015 -16 shall be $1,822,062,344
calculated as follows:
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ATTACHMENT E
FY 2014 -15 Gann Limit a $1,639,238,117
Factors
Non - Residential assessed Valuation b 1.09900
City Population Change ° 1.01140 =
Total adjustment factor (b "c) X 1.11153
FY 2015 -16 Gann Limit $1,822,062,344
a As adopted by City Council on June 24, 2014 (Resolution 10819 CCS)
b L.A. County Assessor 2014 -15 Secured Tax Rolls
Per State Department of Finance — May 2015
SECTION 2. The City Clerk shall certify to the adoption of this resolution, and
thenceforth and thereafter the same shall be in full force and effect.
APPROVED AS TO FORM:
MARSHA JON MOUTR
City�ttorn
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Adopted and approved this 23`d day of June, 2015.
Kevin McKeown, Mayor
I, Sarah P. Gorman, City Clerk of the City of Santa Monica, do hereby certify that
the foregoing Resolution No. 10892 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 23`d day of June, 2015, by the following vote:
AYES: Councilmembers: Davis, Himmelrich, Winterer, O'Connor, O'Day
Mayor McKeown, Mayor Pro Tern Vazquez
NOES: Councilmember: None
ABSENT: Councilmember: None
ATTEST:
Sarah P. Gorman, City Clerk