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<br /> <br />4N <br /> <br />\. <br /> <br />pLEASANTONo <br /> <br />SUBJECT <br /> <br />City Council <br />Staff Report <br /> <br />May 16, 2006 <br />Finance Department <br /> <br />APPROPRIATIONS SUBJECT TO LIMITATION FOR FISCAL <br />YEAR 2006-07 <br /> <br />STAFF RECOMMENDATION: <br /> <br />SUMMARY <br /> <br />1. <br /> <br />Select the percentage change in the City population and the percentage <br />change in per capita personal income as the growth factors for <br />determining the City's Proposition 4 spending limit in 2006-07, pursuant <br />to Proposition 111. <br /> <br />2. <br /> <br />Adopt the 2006-07 appropriation limit of $317,978,099. <br /> <br />Pursuant to Article XIIIB of the State Constitution, the City is required to <br />adopt its appropriation (spending) limit for the coming fiscal year. <br />Affected appropriations are those funded primarily from tax revenues. <br />The spending limit is adjusted each year based on both an inflation factor <br />and population increases. Using the optimal growth factors provided by <br />the State and County in calculating the current year appropriation limit, <br />the spending limit for 2006-07 is $317,978,099. The City will not exceed <br />its appropriation limit for 2006-07. <br /> <br />Honorable Mayor and Members of the City Council: <br /> <br />BACKGROUND <br /> <br />SR06:l45 <br />