Live Oak’s Aug. 19 council agenda includes revised appropriations-limit resolutions for FY 2025-26 and FY 2026-27 after the city’s auditor, RAMS, identified an error in the original FY 2025-26 Gann-limit calculation.
The packet says the corrected revised limit for FY 2025-26 would be $7,694,850, with $5,155,497 in appropriations subject to the limit. For FY 2026-27, the revised limit would be $8,108,048 and subject appropriations would be $6,354,346.
The agenda materials say the audit firm will report the issue as a finding in the FY 2025-26 agreed-upon procedures audit. The packet does not spell out the nature of the calculation error, and it does not show whether the council adopted the revised resolutions or discussed them at the Aug. 19 meeting.
