Financial Services: Publication of Annual GANN Appropriations Limit
The voters of California, during a special election in 1979, approved Article XIII-B of the California State Constitution. Informally known as the “Gann Initiative,” Article XIII-B provides limits regarding the total amount of appropriations in any fiscal year from “the proceeds of taxes.” The appropriation limit for any fiscal year is equal to the previous year’s limit, adjusted for population changes and the changes in the US Consumer Price Index or California per capita personal income, and is provided by the California Department of Finance. Every year the City Council adopts via resolution an appropriations limit for the proposed fiscal year.
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Published on: May 25, 2023