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R-050-22 Approving and Adopting the Annual Gann Limit for the Fiscal Year 2022-23
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R-050-22 Approving and Adopting the Annual Gann Limit for the Fiscal Year 2022-23
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Last modified
2/7/2023 4:46:36 AM
Creation date
5/25/2022 3:57:14 PM
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City Clerk
Agenda Type
City Council
CC - Doc Type
Resolution
Date
5/17/2022
Resolution No.
R-50-22
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Schedule A <br />CITY OF COLTON <br />2022-23 APPROPRIATIONS LIMITATION <br />As indicated by Schedules A and B, the percentage increase to Colton's Appropriation Limit is <br />1.0770% The 2022-23 limit is $ 99,287,488 . The amount subject to limitation in the Fiscal Year 2022-23 <br />Adopted Budget is $ 29,907,000 . The City of Colton is $ 69,380,488 under its lawful limitation. <br />The calculation consists of two (2) factors: <br />A. Prior Year's limit 92,188,452 <br />B. Adjustment factors: <br />a. Price factor (per capita change) 1.0755 <br />b. County Population % increase 1.0014 <br />Total Adjustment % (a * b) 1.0770 <br />C. Annual Adjustment (A * B) 99,287,488 <br />D. Other Adjustments - <br />E. 2022-2023 Appropriation Limit 99,287,488 <br />Appropriations Subiect to Limitation: <br />2022-2023 Year Limit 99,287,488 <br />Proceeds from Taxes - Appropriations Subject to Limitation (29,907,000) <br />Total Under the Limitation 69,380,488 <br />
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