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HomeMy WebLinkAboutReso 45-26 Approving an Appropriations Limit for Fiscal Year 2026-27RESOLUTION NO. 45 – 26 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN APPROVING AN APPROPRIATIONS LIMIT FOR FISCAL YEAR 2026-27 WHEREAS, state law requires that an Appropriations Limit be adopted by the City Council in conjunction with the Annual Budget process; and WHEREAS, Article XII B of the State of California Constitution places certain restrictions on appropriations made by cities; and WHEREAS, the restrictions are applicable to appropriations, which meet the definition of a “Proceeds of Taxes;” and WHEREAS, state law allows the option to select the factors to be used in the calculation of the Appropriations Limit; and WHEREAS, one of the adjustment factors the City must select between is change in: (A) City population, or (B) Countywide population. The City has selected the change in Countywide population; and WHEREAS, for the second discretionary factor, the City must select between: (1) the change in the state per capita personal income, or, (2) the change in the assessed valuation of local non-residential new construction. The City has selected the change in the state per capita personal income; and WHEREAS, the calculation of the Appropriations Limit for Fiscal Year 2026-27 is described in Exhibit A, attached hereto and by reference made a part hereof. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby adopt the Fiscal Year 2026-27 City of Dublin Appropriations Limit as $553,102,803. BE IT FURTHER RESOLVED that the Appropriations Limit has been calculated in accordance with state law as is shown in Exhibit A, attached hereto. {Signatures on the following page} Reso. No. 45-26, Item 5.3, Adopted 06/16/2026 Page 1 of 2 Docusign Envelope ID: 5CEACDEC-2E92-8189-8372-F1B465F27A4C Reso. No. 45-26, Item 5.3, Adopted 06/26/2026 Page 2 of 2 PASSED, APPROVED, AND ADOPTED BY the City Council of the City of Dublin, on this 16th day of June, 2026 by the following vote: AYES: Councilmembers Josey, McCorriston, Morada, Qaadri and Mayor Hu NOES: ABSENT: ABSTAIN: ______________________________ Mayor ATTEST: _________________________________ City Clerk Docusign Envelope ID: 5CEACDEC-2E92-8189-8372-F1B465F27A4C EXHIBIT A CALCULATION OF FISCAL YEAR 2026-27 APPROPRIATIONS LIMIT (Based on Fiscal Year 2025-26 Appropriations Limit) A. Selection of Optional Factors 1. Change in population – City vs. County. -0.19% The City selected Factor 1b. County of Alameda population change -0.10% 2. Change in s tate per capita personal income vs. City non-residential n e w construction. 4.95% The City selected Factor 2a. Change in State per capita personal income 4.95%. B. Fiscal Year 2026-27 Growth Adjustment Factor Calculation of factor for Fiscal Year 2026-27 = X*Y = 0.9990*1.0495 = 1.0485 X = Selected Factor #1 + 100 = -0.10+100 = 0.9990 100 100 Y = Selected Factor #2 + 100 = 4.95+100 = 1.0495 100 100 C. Calculation of Appropriations Limit Fiscal Year 2025-26 Appropriations Limit $527,518,172 Fiscal Year 2026-27 Adjustment Factor x 1.0485 Fiscal Year 2026-27 Appropriations Limit $553,102,803 Docusign Envelope ID: 5CEACDEC-2E92-8189-8372-F1B465F27A4C