City Council Agenda and Packet 2014 01 28 SP

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IE ity CITY COUNCIL COMMUNICATION Louisville AGENDA ITEM A COLORADO •SLNCE CN7r SUBJECT: 2014/15 Budget Retreat Continued — Special Meeting DATE: JANUARY 28, 2014 PRESENTED BY: MALCOLM FLEMING, CITY MANAGER SUMMARY: On January 14, 2014 City Council met to discuss the current status of the 2014 budget and seek direction for possible changes in 2014 and early considerations for the 2015 budget. At that meeting City Council directed staff to provide a list of potential CIP projects in 2014 that could be deferred and /or delayed in 2014. For discussion purposes, staff has organized this list of potential projects into three "Packages" to help illustrate the impact on projected 2014 -2018 reserves of the General, Capital Projects, Open Space and Parks and Historic Preservation Funds. The attached table "2014 -2018 CIP Project Delays and Other Actions to Increase Fund Reserves" summarizes these "Packages" as well as a short list of potential significant positive or negative events that might also affect the City's revenues and expenditures. Projections reflecting in impact on reserves of these packages are also attached. Also attached are the Capital Improvement Plan and a link to the 2014 Budget, which has the detail sheets for all 2014 CIP projects starting on page 176. In addition to these static projections, staff hopes to have the capability at the January 28, 2014 Special Meeting to show in real time the impact on fund reserves of "what if" scenarios of different combinations of project deletions or additions or other events Council may be interested in exploring. 2015 Goals Staff has included a draft summary of possible 2015 Goals in an attempt to enhance their strategic purpose /impact as City Council considers current and future budget requests. Golf Course Business Plan Council asked for a detailed business plan for the golf course. Staff is working on and during the meeting will provide a draft of the operating budget, which includes estimates for rounds of golf and detailed revenue projections in 2015 based on the past 5 years and our best guess of market trends relative to Coal Creek. Because of the crush of work related to the Landscapes Unlimited contract, staff has not had the opportunity to share with the Gold Course Advisory Board this draft operating budget. In addition to this draft operating budget, in April, after working through the details with the GCAB, staff will present to Council the elements of a detailed business plan which includes a local market analysis, weather impact analysis, technology integration, fiscal analysis, golf shops operations review, merchandising and food and beverage review, and analysis of outsource or in -house operating alternatives, non -golf usage, and other CITY COUNCIL COMMUNICATION 2