City Council Minutes 2007 10 30 SP

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City Council Special Meeting Minutes October 30, 2007 Page5of12 COUNCIL COMMENT Council member Muckle voicE;d his concern for the Conservation Trust -Land Acquisition Fund, should the voters' decide against reauthorization of the sales tax in 2012. City Manager Fleming presented a table which illustrated the projections for anticipated expenditures and the ending fund balances for the Conservation Trust -Land Ac:quisition Fund through 2017. Mayor Pro Tem Brown asked if some of the items previously cut from earlier budgets could eventually be added back in. City Manager Fleming stated a determination could not be m<~de at this time. Capital Projects Funds • Library Construction • Debt Service Fund Capital Project Funds • Capital Projects spending is budgeted at $6.8 million to complete major transportation projects such as Dillon and South Boulder Roads. • Increase funding for street reconstruction projects from $750,000 in 2007 to $1,000,000 in 20081to reflect higher cost for materials and growing backlog of areas needing work. Enterprise Funds • Water Utility • Wastewater Utility • Storm Water Utility • Golf Course Utility Funds Hiuhlights • The City proposes a 2.5% rate increase in water and wastewater charges for 2008 to offset the increased cost of operations. • Staff recommends a 2;i cent increase, from $2.00 to $2.25, in the monthly household storm water utility charge. This will allow the City to move the cost of storm water prcjects from the Capital Improvement Program to the Utility Fund over the nE;xt 2-3 years. Louisville Revitalization Commission • The Louisville Revitali~:ation Commission budget totals $40,000 with a General Fund contribution of $20,250. The remaining $19,750 is an estimated property tax increment for Year 2007, which will be collected in 2008.