City Council Agenda and Packet 2013 10 08 SP

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City.,ii Louisville CST OR . Ai ri. � �TP September 26, 2013 Mayor Muckle and City Council: Office oldie City Manager As required by Section 11 -2 (b) of the City Charter, I am pleased to offer for your consideration the proposed 2014 Annual Operating Budget and the 2014 -2018 Five - Year Capital Improvements Plan. The unprecedented rains this year have challenged the City by flooding homes and businesses, washing away bridges, destroying water utility infrastructure, obliterating trails and severely damaging the golf course. But throughout Louisville people are working together with City staff to recover and rebuild even better than before the flood. As I write this message we are still assessing the damage and do not have precise cost estimates, nor do we yet know exactly what financial assistance will be available through our insurance coverage and from the State and Federal governments. Consequently, the funding proposed for rebuilding is intended as a rough approximation of what is needed and meant to provide Council with options. It is, however, subject to significant revision as we get more information in the weeks and months ahead and when we have more precise estimates of costs and grants or reimbursements, staff will propose a budget amendment if necessary. Fortunately, the City is in good fiscal health. The current projection for 2013 General Fund revenue, exclusive of interfund transfers, is 2.8% higher than 2012. The month of July 2013 ended with sales tax revenue up 7.6% over July 2012, and YTD sales tax revenue is 2.6% above budget. These resources, combined with the help we anticipate from insurance, and the State and Federal governments, and with the energetic teamwork, volunteer efforts, and support from friends and neighbors throughout the City, will help Louisville recover and become better than ever. In addition to maintaining the City's current level of service in all areas, the proposed 2014 Budget, if adopted by the City Council, would focus the anticipated revenue on seven primary areas: • Reconstructing flood damaged or destroyed infrastructure: The Water System Intake on South Boulder Creek, which includes a building, drop structure and equipment used to measure water rights, sustained major damage from flood waters. This facility is an essential component of the City's water utility infrastructure and must be reconstructed as soon as possible. Staff is developing estimates of replacement cost and likely insurance coverage and /or State or FEMA assistance. County Road Bridge was destroyed by the floods. This bridge was an important secondary route into downtown and it also provided a south access to Highway 42 from Cherry/Bella Vista. It was used by over 3,000 cars per 1 18