2017-2018 Biennial Operating & Capital Budget

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Office of the City Manager Cityof Louisville COLORADO SINCE 1878 January 13, 2017 Mayor and City Council City of Louisville 749 Main Street Louisville, CO 80027 Mayor Muckle, City Council, Louisville Residents and Businesses and City Employees: I am pleased to present the 2017-2018 Operating Budgets' and the 2017-2021 Five-Year Capital Improvements Plan formally adopted by City Council on November 15, 2016 by passing Resolutions 60, 61, and 62. The City is in good fiscal health. The thriving local economy and the City's prudent use of available revenue enable the City to improve services in several critical areas and devote nearly $19 million in 2017 to capital projects, including: • Street Resurfacing • Water and Sewer Line Replacement • Water System Equipment Improvements • Completing Waste Water Treatment Plant Improvements • Railroad Quiet Zone Design Work • Trail Connections and Park Improvements Funding for City operations comes from numerous sources. The chart below shows the relative percentage coming from each source. Charges for service include water and sewer rates, recreation center admission fees, and golf course fees. Property taxes make up only 7% of total City revenue (the City of Louisville receives only about 8% of property taxes paid within the City; the rest goes to the County, School District and other governmental entities). 1 The City Charter requires an annual budget. To comply with the City Charter and still implement a biennial budget as requested by City Council, staff has prepared a proposed two-year (2017-2018) budget for Council that Council adopted with the 2017 Budget and 2018 Plan in November, and then in 2017, consider just a few significant changes to the 2018 Plan that may be necessary before adopting it as the 2018 Budget. Then in 2018, staff will prepare the proposed 2019- 2020 biennial budget. 1