CC Resolution No. 24-056 establishing an Appropriation Limit of $132,542,385 for FY 2024-25
RESOLUTION NO. 24-056
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
ESTABLISHING AND ADOPTING THE APPROPRIATION
LIMIT IN THE AMOUNT OF $132,542,385 FOR FISCAL YEAR 2024-25
WHEREAS, the State of California has adopted legislation requiring local
jurisdictions to calculate their appropriation limits in complying with Article XIII B of the
State Constitution; and
WHEREAS, pursuant to Proposition 111, passed by the voters of California on
June 5, 1990, said limits are determined by an adjustment formula based upon change in
population, combined with either the change in inflation (California per capita income)
or the change in the local assessment roll due to local nonresidential construction; and
WHEREAS, the local governing body is required to set an appropriation limit each
year by adoption of a resolution; and
WHEREAS, the County of Santa Clara’s population percentage change over the
prior year is 0.02%, and the California per capita personal income change is 3.62%; and
WHEREAS, in computing the 2024-25 limit based upon the adjustment factors
provided pursuant to Proposition 111, the City Council has elected to use the county
population percentage change along with the California per capita income change, but
the Council expressly reserves the right to use the non-residential assessed valuation
percentage change when the figure is available.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Cupertino hereby approves a 2024-25 fiscal appropriation limit of $132,542,385, based on
Proposition 111 guidelines allowing for use of the county population percentage change
along with the California Per Capita Personal Income change to adjust base year
appropriations.
BE IT FURTHER RESOLVED that the City Council of the City of Cupertino hereby
reserves the right to use the non-residential assessed valuation percentage change when
the figure is available.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 4th day of June, 2024, by the following vote:
Resolution No. 24-056
Page 2
Vote Members of the City Council
AYES: Mohan, Fruen, Chao, Moore, Wei
NOES: None
ABSENT: None
ABSTAIN: None
SIGNED:
________
Sheila Mohan, Mayor
City of Cupertino
________________________
Date
ATTEST:
__________________________
Kirsten Squarcia, City Clerk
________________________
Date
6/12/24
6/12/24