Description
Title: Fiscal Year (FY) 2024/25 Independent Accountants’ Report on the Appropriation Limit Calculation
Summary
The Budget and Audit Committee of Sacramento has reviewed the Fiscal Year 2024/25 Independent Accountants’ Report on the city's appropriations limit calculation, in compliance with Section 1.5 of Article XIII B of the California Constitution. The report confirms that Sacramento adhered to mandated procedures for calculating its appropriations limit for the fiscal year ending June 30, 2025. This limit, adjusted for population growth and inflation, is set at approximately $1.1 billion. The findings indicate no discrepancies, affirming the city’s commitment to financial transparency and accountability. This process is crucial for ensuring that public funds are managed within legal limits, thereby safeguarding taxpayer interests.