City Council Agenda and Packet 2014 06 24 SP

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L City of Louisville COLORADO • SINCE 1878 CITY COUNCIL COMMUNICATION AGENDA ITEM 11 SUBJECT: DISCUSSION /DIRECTION — 2015 BUDGET, CITY COUNCIL GOALS, AND 2015 -2019 CAPITAL IMPROVEMENTS PLAN DATE: JUNE 24, 2014 PRESENTED BY: MALCOLM FLEMING, CITY MANAGER KEVIN WATSON, FINANCE DIRECTOR SUMMARY: During this meeting staff will: 1. Ask Council to finalize the draft 2015 Goals and Objectives. Staff will rely on Council's discussion and direction on these Goals and Objectives as we develop the recommended operational 2015 Budget for Council consideration. 2. Review the revenue assumptions, expenditure targets, major fund forecasts for 2015 and ask Council to provide direction on any desired changes or additional information needed. 3. Summarize staffs recommended 2015 -2019 Capital Improvements Plan (CIP), address questions Council members may have and ask Council for direction on any projects Council would like to see added, deleted or scheduled for a different year (either earlier or later in the five year plan). There are 170 individual projects proposed over the 5 -year CIP. Projects proposed for out years (2016 -2019) are sometimes conceptual and cost estimates for those projects are cautious estimates based on limited information and projections. Accordingly, staff asks that Council focus most specifically on those capital projects scheduled for 2015 because the details and budgets for these projects are most specific and, if approved by Council, the budget for 2015 will control the expenditures available for those projects. As noted in the summary of the CIP, although the CIP is presented as a separate document, it is an integral part of the overall budget process and the final budget document. Based on Council discussion and direction on the revenue assumptions, fund forecasts and recommended CIP, staff will include the 2015 project costs in the 2015 Recommended Budget, which we will present in October. City Services Facility Cost Allocation Council discussed this issue previously during study session and asked staff to address the issue during the Budget Retreat so Council could provide direction. The attached spreadsheet shows the design team's allocation of space at the CSF, along with several options (including the current 25/25/25/25 split) for allocating the costs of the CSF among the Water, Wastewater, Open Space and Parks, Capital Project and Storm Water Funds. The various options for allocating space include: CITY COUNCIL COMMUNICATION 2