City Council Minutes 2003 12 02 - Laserfiche WebLink

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Louisville City Council Meeting December 2, 2003 Page 3 of 22 ADOPTION OF THE 2004 BUDGET RESOLUTION NO. 45, SERIES 2003 - SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND AND ADOPTING A BUDGET FOR THE CITY OF LOUISVILLE, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY 2004 AND ENDING ON THE LAST DAY OF DECEMBER 2004 RESOLUTION NO. 46, SERIES 2003 - ANNUAL APPROPRIATION RESOLUTION FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2004, AND ENDING DECEMBER 31, 2004, FOR THE CITY OF LOUISVILLE RESOLUTION NO. 47, SERIES 2003 - LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 2003 TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE CITY OF LOUISVILLE, COLORADO, FOR THE 2004 BUDGET YEAR Mayor Davidson called for Staff presentation. Finance Director Charlene Laus summarized the proposed 2004 operating and capital budget. The 2004 budget includes a total revenue projection of $28,884,939 for all funds. These revenues, plus the beginning projected available fund balances for all funds, the estimated bond and loan proceeds, and operating transfers in will generate available sources of funds for the 2004 budget of $58,942,886. The expenditures in all funds in the 2004 budget are $41,165,055. Included in the amount is $17,799,073 for operating expenditures, $3,075,495 for payment of debt service, and $20,290,487 for capital improvements. Included in the Capital Improvement Fund: $7.2 million for construction of the new Library; $1.5 million for the McCaslin Interchange Project; $1.5 million for street reconstruction program; $1.2 million for Community Park Phase I Improvements $2.5 million for potential land acquisition; and various water and waster water system improvements at approximately $2 million dollars. Laus reviewed Resolution No. 47, which certifies the mill levy. COUNCIL COMMENTS Council member Keany asked Laus if the 96th Street Connection is also included in the 2004 budget. Laus confirmed the 96th Street Connection is incorporated in the 2004 budget as are the police facility and the skate park. Mayor Pro Tem Sisk thanked Finance Director Laus for her hard work in preparing the budget. He stated his understanding the budget includes one new full time position. Laus confn-med one new full position was added to the department of Land Management for a resource officer. She noted temporary salaries have also been added for the Night at the Rec. She stated personal services in all funds have increased 2.3% over the 2003 budget. The increase includes an approximate 1.8% increase for existing positions. 3