City Council Agenda and Packet 2014 10 14 SP

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Presented 10/7/14 Finally, in 2012, with the 10 -year tax approved in 2002 set to expire in 2014, the City Council placed another measure on the ballot. That Ballot Measure 2A, approved by Louisville voters in 2012, also authorized a 10 -year 318% sales and use tax with revenue from the tax, as also stated in the 2002 Ballot Measure 2D, to be used, "exclusively for the acquisition of land in an around the City of Louisville for open space buffer zones, trails, wildlife habitats, wetlands preservation and future parks; and for the development, construction, operation and maintenance of such open space zones, trails, wildlife habitats, wetlands and parks ". While Louisville voters have twice approved ballot measures providing clear authority to spend revenue from the sales and use tax on the development, construction, operation and maintenance of open space, trails, wildlife habitat, wetlands and parks, the origin of the City's funding for open space and parks —and the limitation in the 1993 ballot question restricting use of the funds to land acquisition only —still influences the way many people view how the 318% tax revenue should be used today. This perspective could also affect the continued community support for the tax. Consequently, it is very important to clearly show the sources and uses of all funding for all aspects of the City's open space and parks programs, to ensure the City maintains sufficient resources to acquire properties on the City's Open Space Candidate Properties list, and to have clear policies to guide management of the Open Space and Parks Fund. Accounting for Open Space and Parks Fund Revenues and Expenditures With the above history in mind, staff has divided the 2015 Open Space and Parks Fund budget into expenditures for Open Space Administration and Operations; Parks Administration and Operations; and Capital Outlay. The graph below summarizes the Open Space and Parks Fund total revenues, expenditures and fund balance for 2000- 2013 (actual), 2014 (estimated) and 2015 -2019 (projected). Although there are records going back further, the year 2000 is as far back as the City's current Long -Term Financial Model goes. 7