Title
Adopt the Fiscal Year 2014-15 GANN Appropriation Limits pursuant to Article XIII B of the California Constitution.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Adopt the Fiscal Year 2014-15 GANN Appropriation Limits pursuant to Article XIII B of the California Constitution.
SUMMARY/DISCUSSION:
On May 20, 2014, your Board set June 10, 2014, or thereafter, to adopt Fiscal Year 2014-15 Appropriation Limits, also referred to as the GANN Limit, as part of the budget adoption process. The GANN Appropriation Limits are calculated for those Board governed jurisdictions determined to be subject to the provisions of Article XIII B of the California Constitution.
The FY 1978-79 base amounts, FY 2014-15 appropriation limits and FY 2014-15 estimated tax proceeds for the General and Library Funds and special districts are shown on the attached schedule. Documents and calculations supporting these appropriation limits were prepared by the office of the Auditor-Controller in compliance with Article XIII B and are available in that office for public inspection, as detailed in the California Public Records Act, Government Code Sections 6250 - 6270.
OTHER AGENCY INVOLVEMENT:
The General Fund and Library Fund, and other listed jurisdictions determined to be subject to Article XIII B of the California Constitution, are impacted by these limitations.
FINANCING:
The General and Library Funds' combined estimated proceeds of taxes for Fiscal Year 2014-15 is $174,274,280. This is $387,743,152 below the computed appropriation limit of $562,017,432, which is the amount of taxes the GANN initiative will allow to fund the FY 2014-15 appropriations. The limit was calculated using the 1978-79 appropriation as the base year and increased annually by the growth ratio.
Prepared by: Judith Serrano, Accountant Auditor III, 755-5053
Approved by: Rupa Shah, CPA, Chief Deputy Auditor-Controller, 755-5099
Attachment:
Appropriation Li...
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