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HomeMy WebLinkAbout09. Consider adopting Resolution No. 2024-028 establishing the appropriations limit in the amount of $146,872,366 for fiscal year 2024-25Page 1 of 4 Item 9. DCENTRALSAN MEETING DATE: SEPTEMBER 5, 2024 BOARD OF DIRECTORS POSITION PAPER SUBJECT: CONSIDER ADOPTING RESOLUTION NO. 2024-028 ESTABLISHING THE APPROPRIATIONS LIMIT IN THE AMOUNT OF $146,872,366 FOR FISCAL YEAR 2024-25, IN ACCORDANCE WITH ARTICLE XI I I B OF THE CALIFORNIA CONSTITUTION, USING THE CHANGE IN THE CALIFORNIA PER CAPITA PERSONAL INCOME PERCENTAGE AND CHANGE IN POPULATION TO CALCULATE THE APPROPRIATIONS LIMIT SUBMITTED BY: INITIATING DEPARTMENT: KEVIN MIZUNO, FINANCE MANAGER ADMINISTRATION -FINANCE REVIEWED BY: PHILIPLEIBER, DEPUTYGM -ADMINISTRATION Roger S. Bailey General Manager ISSUE Central San is required to establish its appropriations limit for tax proceeds that can be spent annually in accordance with Article XI I I B, Government Spending Limitation, of the California Constitution. BACKGROUND As statutorily required, notice that the appropriations limit for Fiscal Year (FY) 2024-25 would be considered at this meeting was provided at the August 15, 2024 Board meeting and, in accordance with Califomia Govemment Code section 7910, documentation used in the determination of the appropriations limit and other necessary determinations were made available to the public at least fifteen days prior to this meeting. California's State appropriations limit, also known as the "Gann Limit," was originally established by Proposition 4 in 1979. The statute places an "upper limit" on the amount of tax proceeds that can be spent on an annual basis. As Central San receives the vast majority of its revenues from service charges, not taxes, this limitation has had no material practical effect. September 5, 2024 Regular Board Meeting Agenda Packet - Page 32 of 66 Page 2 of 4 The annual limit is based on the amount of tax proceeds that were authorized to be spent in FY 1986-87, adjusted annually by a factor comprised of the change in population combined with the change in California per capita personal income. After 38 years of compounding under this formula, the annual limit far exceeds the actual tax proceeds received by Central San. As a result, the Gann Limit has not had practical implications for Central San's finances, but nonetheless requires this administrative calculation and notification each year. As published by the California Department of Finance, the annual change in population for FY 2024-25 in Contra Costa County is 0.12% and the percentage change in California per capita personal income is 3.62%. Using these percentages, Central San's current appropriations limit is calculated to be $146,872,366, which far exceeds the total ad valorem property tax revenue budgeted for FY 2024-25 of $24,711,875 plus estimated interest earnings of approximately $392,000 on said tax proceeds. ALTERNATIVES/CONSIDERATIONS None. FINANCIAL IMPACTS None. COMMITTEE RECOMMENDATION No Committee review is necessary for this matter because establishment of the appropriations limit is statutorily mandated under Article XI I I B of the California Constitution entitled Government Spending Limitation. RECOMMENDED BOARD ACTION Adopt the proposed resolution establishing the appropriations limit in the amount of $146,872,366 for FY 2024-25, in accordance with Article XI I I B of the California Constitution, using the change in the California per capita personal income percentage and change in Contra Costa County population to calculate the appropriations limit. Strategic Plan Tie -In GOAL FOUR: Governance and Fiscal Responsibility Strategy 1 - Promote and uphold ethical behavior, openness, and accessibility, Strategy 3 - Maintain financial stability and sustainability ATTACHMENTS: 1. Resolution September 5, 2024 Regular Board Meeting Agenda Packet - Page 33 of 66 Page 3 of 4 RESOLUTION NO. 2024-028 A RESOLUTION OF THE CENTRAL CONTRA COSTA SANITARY DISTRICT ESTABLISHING THE APPROPRIATIONS LIMIT FOR FISCAL YEAR 2024-25 WHEREAS, Central Contra Costa Sanitary District (Central San) is required under Article XIII B of the State of California Constitution to establish and adopt an Appropriations Limit for each fiscal year; and WHEREAS, Central San has determined the Appropriations Limit for taxes and proceeds of taxes for Fiscal Year 2024-25 to be $146,872,366; and WHEREAS, the selection of an alternative growth factor between the per capita personal income or the change in the local assessment roll due to local non-residential construction must be made by recorded vote. WHEREAS, the data for calculation of the local non-residential construction factor is no longer readily available. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Central Contra Costa Sanitary District (Central San) as follows: THAT the Board of Directors of Central San hereby adopts the Appropriations Limit for Central San in the amount of $146,872,366 for the fiscal year ending June 30, 2025, based upon the percentage change in California per capital personal income and the percentage change in Contra Costa County population as published by the California Department of Finance. PASSED AND ADOPTED this 5t" of September 2024, by the Board of Directors of Central San by the following vote: AYES: Members: NOES: Members: ABSENT: Members: Mariah N. Lauritzen President of the Board of Directors Central Contra Costa Sanitary District County of Contra Costa, State of California September 5, 2024 Regular Board Meeting Agenda Packet - Page 34 of 66 Page 4 of 4 Resolution No. 2024-028 Central Contra Costa Sanitary District Page 2 of 2 COUNTERSIGNED: Katie Young, CPMC, CIVIC Secretary of the District Central Contra Costa Sanitary District County of Contra Costa, State of California Approved as to form: J. Leah Castella, Esq. Counsel for the District September 5, 2024 Regular Board Meeting Agenda Packet - Page 35 of 66