Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
<br />2006 Budget Projections - Finance Director <br />Based on the continuing trend of lower sales taxes, the projected revenue <br />decrease for 2006 is estimated to be approximately 6% lower than the 2005 <br />actual collections, or about $1.2 million. The decrease in revenue is attributed <br />mostly to an erosion of regional business because of the construction of new <br />facilities such as grocery and general merchandise stores in nearby <br />communities. As housing development occurs in those communities, commercial <br />development is being provided to serve new residents and those who once <br />frequented Louisville. <br /> <br />In addition to on-going increased overhead costs for the City, new facilities <br />including the police department! municipal court building, skate park, new library <br />and community park will reflect increased operating costs in the 2006 budget. <br /> <br />New programs and services which have been initiated and are expected to <br />continue in 2006 include the Windy Gap firming project, City Hall remodel, <br />adoption of impact fees for residential development, business and economic <br />development efforts, Highway 42 plan, and review of the anticipated proposal by <br />Xcel Energy to expand the existing high pressure gas line facility. <br /> <br />Combining the decreased revenues and increased costs shows a projected <br />shortfall in the General Fund in 2006 of approximately $1.3 million. <br /> <br />Department heads each briefly described their work plans and projects planned <br />for 2006, including any additional staffing needs anticipated. The City Council <br />discussed methods for establishing priorities for budget constraints for the 2006 <br />budget. They requested that department heads present recommendations for <br />budget cuts including opportunities for increasing or adding fees for services and <br />cost recovery; review of dues, donations and contributions; and a review of <br />service levels with possibilities for decreases. Council members stated that they <br />will consider any and all proposals and that there are no "sacred cows". <br />Allocations to the General Fund that are permitted from the Open Space tax fund <br />and the Capital Projects Fund will be reviewed and increased as appropriate. <br /> <br />Council will review the recommendations and begin discussing ideas for <br />balancing the 2006 budget at the August 23 budget study session. The budget <br />schedule sets the dates of November 15 for conduction the public hearing, and <br />December 6 for adopting the budget and establishing the mill levy. <br /> <br />Adjournment <br />There being no further business, the study session was adjourned at 4: 15 p.m. <br /> <br />Submitted by: <br />Julie A. Boyd, <br />Deputy City Manager <br />July 2, 2005 <br />