TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: FY 2024-25 Appropriations Limit Adoption
ACTION ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider the adoption of Resolution No. 24-026 establishing the Appropriations Limit for Fiscal Year 2024-25 at $675,361,470.
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
Establishing the District's Appropriations Limit is necessary for compliance with state law.
BUDGETARY/FISCAL IMPACT:
There is no budgetary or fiscal impact from this report.
BACKGROUND/RATIONALE:
On June 26, 2024, the Board of Directors adopted Resolution No. 24-025 giving notice of the scheduled adoption of an Appropriations Limit for FY 2024-25. The notice and supporting documentation must be available to the public at least 15 days prior to the adoption of an Appropriations Limit and were posted on the District's website and in the General Office lobby on June 27, 2024. The documents are on file with the District Secretary's Office. There was no public comment received.
The District must make available to the public the Appropriations Limit for FY 2024-25 and supporting documentation. Article XIIIB of the California Constitution places limitations on the annual appropriations of the State and each local government. In 1979, California voters approved Proposition 4 (Article XIIIB of the California State Constitution). Informally known as the "Gann Initiative", Article XIIIB provides limits to the amount of tax proceeds state and local governments can spend each year. The base year was set at FY 1978-79. In 1980, the State Legislature added Section 9710 of the Government Code stating that the governing body of each local jurisdiction must establish, by resolution, an appropriations limit for the following year.
The li...
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