HomeMy WebLinkAbout59 - PH-2 - Attachment 2 - 6/17/2014ATTACHMENT 2
CITY OF COSTA MESA
CALCULATION OF APPROPRIATIONS LIMIT
FOR FY 2014-2015
The City's Appropriations Limit for FY 14-15 is calculated as follows:
Step 1 Appropriations Limit for FY 13-14 $ 190,458,330
Step 2 Multiply the FY 13-14 Appropriations Limit by the cumulative growth
factors for changes in the California per capita personal income and the
population change for the City of Costa Mea 1.0070
Appropriations Limit for FY 14-15 $ 191,787,464
*CALCULATION OF CUMULATIVE GROWTH FACTORS:
Personal Income Factor 0.9977
Orange County Population Change 1.0093
Costa Mesa Population Change 1.0036
(0.9977 x 1.0093) _ * 1.0070
Per capita converted to ration (-0.23+100/100) 0.9977
Orange County Population converted to ration (0.93+100/100) 1.0093
Costa Mesa Population converted to ratio (0.36+100/100) 1.0036