INTRODUCTION
The State Controller’s Office requires the submission of an informational form along with the filing of the Annual Statement of Financial Transactions no later than 110 days after the close of each fiscal year.
Annually during the City’s financial audit, the auditors apply agreed-upon procedures to ensure the City meets the requirements of Section 1.5 of Article XIII-B of the California Constitution.
The City’s General Plan identifies the level and pace of growth of the undeveloped areas of the City. The Strategic Business Plan models expenditures and revenues based on these growth projections. Based on the City’s growth plan and the Strategic Business Plan projections, the City will not reach its Gann expenditure limit in the foreseeable future.
Five-Year Gann Limit Historical Data
Adopted Budget
Taxes Subject to the GANN Limit
FY 2014-15
FY 2015-16
FY 2016-17
FY 2017-18
FY 2018-19
Street Lighting District Tax
$
2,438,136
$
2,617,716
$
2,755,481
$
2,986,750
$
3,147,360
Property Tax
48,835,000
54,510,000
60,391,000
63,468,000
69,902,446
Sales Tax
56,522,000
64,107,000
64,377,000
63,864,000
64,209,782
Document Transfer Tax
3,500,000
3,500,000
4,298,000
4,000,000
4,362,066
Transient Occupancy Tax
9,999,251
11,235,000
14,703,000
14,666,000
16,293,000
Utility Users Tax
4,578,000
4,787,000
5,026,700
4,794,000
4,649,369
Business License Tax
408,735
318,674
(599,146)
-
-
Other Agencies: State Motor Vehicle in Lieu
100,000
100,000
100,000
105,000
150,000
System Development (SDC) Fees
10,653,021
11,111,896
12,347,857
12,850,241
12,817,270
$
137,034,143
$
152,287,286
$
163,399,892
$
166,733,991
$
175,531,293
Taxes Subject to GANN Limit
GANN Limit
268,624,549
287,754,582
311,206,580
335,107,245
359,201,456
$
131,590,406
$
135,467,296
$
147,806,688
$
168,373,254
$
183,670,163
Amount Under the GANN Limit
*The Five-year Gann Limit Data will be updated through the adopted book.
FY 2019-21 Proposed Budget
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