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THE CITY OF 7 <br /> CITY COUNCIL AGENDA REPORT <br /> pLEASANTONe <br /> June 1, 2010 <br /> Finance Department <br /> TITLE: APPROVE A RESOLUTION ADOPTING FISCAL YEAR 2010 -11 <br /> APPROPRIATIONS LIMIT <br /> SUMMARY <br /> Pursuant to Article XIIIB of the State Constitution, the City is required to adopt its <br /> appropriation (spending) limit for the coming fiscal year. Affected appropriations are <br /> those funded primarily from tax revenues. The spending limit is adjusted each year <br /> based on both an inflation factor and population increases. Using the optimal growth <br /> factors provided by the State and County in calculating the current year appropriation <br /> limit, the spending limit for 2010 -11 is $378,502,427. The City will not exceed its <br /> appropriation limit for 2010 -11. <br /> RECOMMENDATION <br /> Select the percentage change in the County population and the percentage change of <br /> the California per capita personal income over prior year as the growth factors for <br /> determining the City's Proposition 4 spending limit in 2010 -11, pursuant to Proposition <br /> 111. <br /> Adopt the 2010 -11 appropriation limit of $378,502,427. <br /> FINANCIAL STATEMENT <br /> The 2010 -11 appropriations subject to the limit are calculated as part of the budget <br /> process and are estimated to be less than $90 million. Therefore, the $378,502,427 <br /> limit is not anticipated to be approached in either the near term or the long term. <br />