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<br />Appropriation Limit <br /> <br />Page 2 of2 <br /> <br />June 11,2007 <br /> <br />The Appropriations Limit Calculation <br />Based on the chosen adjustment factors, the City's appropriation limit for fiscal year 2006-07 is <br />$131,101,332. The limit was calculated as follows: <br /> <br />$131,101,332 <br /> <br />Population Factor <br />X X <br />X 1.0107 X <br /> <br />Assessed Valuation <br />Change Factor <br />1.0171 <br /> <br />== <br /> <br />FY 2006-07 <br />Limit <br />$134,769,937 <br /> <br />FY 2007-08 Limit <br /> <br />== <br /> <br />Schedule 2 provides detail of the City's appropriations limit calculations from fiscal year 1986- <br />87 to fiscal year 2007-08. <br /> <br />Supporting Information <br />Schedule 3 shows how City revenues are classified for the purpose of determining the <br />appropriations subject to limitation. Revenues are segregated into two categories - Proceeds of <br />Taxes and Non-Proceeds of Taxes. Revenues in the category of Non-Proceeds of Taxes are <br />further classified as User Fees, Federal & Exempt and Enterprise. Only appropriations from <br />revenues classified as Proceeds of Taxes are subject to the appropriations limit. As indicated on <br />the bottom of Page 2 of Schedule 3, proceeds of taxes subject to the limit total $69,778,330. <br /> <br />CONCLUSION <br />Staff recommends City Council approval of a resolution establishing the City's appropriations <br />limit of $134,769,937 for fiscal year 2007-08. <br /> <br />G:\GANN LIMIT CALCULA nON WORKSHEETS\2007 -08\AppropLmtCCMemo.doc <br />