City Council Agenda and Packet 2015 10 13 BUDGET

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L cityof Louisville COLORADO • SINCE 1878 CITY COUNCIL COMMUNICATION AGENDA ITEM 5A SUBJECT: CITY MANAGER'S PROPOSED 2016 BUDGET AND 2016 -2020 CAPITAL IMPROVEMENTS PLAN (CIP) DATE: OCTOBER 13, 2015 PRESENTED BY: MALCOLM FLEMING, CITY MANAGER SUMMARY: The City Manager provided an overview of the 2016 Budget during the September 15, 2015 City Council meeting and then addressed Council's and the public's questions regarding the budget during the September 21 Council meeting. This meeting and the attached materials are intended to adddress the issues Council raised during the previous meetings and to provide another opportunity for the public and Council to ask questions about the proposed budget and provide direction on any changes or additional information Council wants to see incorporated into the proposed budget for consideration during the public hearing on the budget scheduled for October 20th The September 21st proposed 2016 budget presented by the City Manger can be found at this link. During the September 21st City Council meeting Council Members raised several issues. Those issues and staffs response are summarized below: • Follow -up on Fiscal Policies - a memo is attached regarding the changes suggested to the fiscal policies based on the conversation at the September 21st meeting. The Finance Committee will discuss these changes and consider specific reserve policy changes during its December meeting and bring all fiscal policy changes back for formal approval during the December 15 City Council meeting. Any proposed 2016 changes to Recreation Fees will be assumed in the fiscal model going forward. ( #1) • A graph showing the Fund Balance as a percentage of operating expenditures is below. 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% General Fund Balance as a Percent of Operational Expenditures CITY COUNCIL COMMUNICATION 13