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UCityor Office of the City Manager Louisville COLORADO •SINCE. 1878 December 9, 2014 Mayor and City Council City of Louisville 749 Main Street Louisville, CO 80027 Dear Mayor and City Council: I am pleased to present the 2015 Annual Operating and Capital Budget. The Louisville Municipal Code Section 3.04.030 states that the City Council shall adopt an annual budget for each fiscal year in accordance with the procedure set forth in the Local Government Budget Law of Colorado, (Code 1962, 6.2; Code 1977, 3.04.020). City Council formally adopted the 2015 Budget on November 3, 2014 by passing Resolutions 69, 70, and 71. The unprecedented rains last year challenged the City by flooding homes and businesses, washing away bridges, destroying water utility infrastructure, obliterating trails and severely damaging Coal Creek Golf Course. In the past year and throughout Louisville people have and continue to work together with the City Council and staff to recover and rebuild Louisville so it is even better than before the flood. Fortunately, we had set aside reserves in previous years to help the City through these challenges and the local economy is strong. City staff has also worked hard to document flood related expenditures that qualify for Federal and State reimbursement and to secure those reimbursements. Guiding Principles In June of 2009, the Council agreed on the following guiding principles for budget development: 1. Provide high quality core services; do it well or don't do it 2. Talented, motivated, well-trained employees are the City's most important asset 3. Maintain our investments 4. Don't expect short-term actions to resolve long-term problems 5. Consider unintended consequences 6. Share information and ask employees, residents and businesses for their input and remember that Leadership is what they expect from us We kept these principles in mind as we prepared the 2015 budget. As you know, the City's budget is the most significant policy considered by the Louisville City Council each year; it establishes the City's priorities and provides funding to achieve those priorities. The budget process, including the formal public hearing, provide the public with many opportunities to comment on and advise the City Council about those priorities and levels of funding. In addition to the public hearing, we solicit and receive input from numerous sources, including public involvement at regular City Council meetings and study sessions, feedback from the City's various Boards and Commissions and information from surveys. We also provided information, addressed questions, and asked for ideas and suggestions about budget issues during special 1