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L <br />Louisville <br />COLORADO • S1NC <br />CITY COUNCIL COMMUNICATION <br />AGENDA ITEM 4 <br />SUBJECT: <br />DISCUSSION/DIRECTION/ACTION — CITY MANAGER'S <br />PROPOSED 2018 BUDGET AND LONG-TERM FINANCIAL <br />PLAN FOR 2018 — 2021 — SET PUBLIC HEARING 10/17/17 <br />DATE: SEPTEMBER 26, 2017 <br />PRESENTED BY: HEATHER BALSER, INTERIM CITY MANAGER <br />KEVIN WATSON, FINANCE DIRECTOR <br />SUMMARY <br />This communication presents the main financial components of the Interim City <br />Manager's Recommended 2018 Operating & Capital Budget and 2018-2021 Long -Term <br />Financial Plan. <br />Included within this communication are: <br />Revenue projections for 2017 through 2021; <br />Operating expenditure estimates and targets for 2017 through 2021; <br />An update to the Five-year Capital Improvements Plan; <br />A discussion of transfers between funds; and <br />Individual fund forecasts generated by the Long -Term Financial Model. <br />Attached to this communication are: <br />An updated Five -Year Capital Improvements Plan summary table; and <br />Schedules summarizing the Recommended 2018 Operating & Capital Budget by <br />fund. For each budgeted fund, the recommended budget is presented in two <br />separate formats: <br />o A schedule of revenue by source, expenditures by division; and <br />o A schedule of revenue by program, expenditures by program. <br />REVENUE PROJECTIONS <br />The following table summarizes the updated revenue assumptions for 2017 through <br />2021 that have been incorporated into the Recommended 2018 Operating & Capital <br />Budget and 2018-2021 Long -Term Financial Plan. <br />All projections for construction -related revenue are based on forecasts by the Planning <br />& Building Department. Construction -related revenue includes Use Tax on Building <br />Materials, Construction Permits, Impact Fees, and Utility Tap Fees. All projections for <br />the revenue generated at Recreation Center and Golf Course are based on forecasts by <br />the Parks & Recreation Department. Golf Course Operating Fees include a <br />consolidation of green fees, annual season passes, golf cart rentals, driving range fees, <br />pro shop merchandise sales, pull cart rentals, club rentals, golf lesson fees, club repair <br />fees, and handicap fees. Projections for Solid Waste & Recycling Fees are based on <br />CITY COUNCIL COMMUNICATION <br />2 <br />