City Council Agenda and Packet 2018 10 23

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Cityof lom Louisville COLORADO - SINCE 1878 CITY COUNCIL COMMUNICATION AGENDA ITEM 2 SUBJECT: DATE: PRESENTED BY: SUPPLEMENTAL INFORMATION FOR CITY MANAGER'S PROPOSED 2019-2020 OPERATING AND CAPITAL BUDGET, 2019-2024 CAPITAL IMPROVEMENTS PLAN AND 2019-2024 LONG TERM FINANCIAL PLAN OCTOBER 23, 2018 HEATHER BALSER, CITY MANAGER KEVIN WATSON, FINANCE DIRECTOR SUMMARY: A number of issues were discussed at the budget discussion/meeting on October 12, 2018. Staff has provided some supplemental information in response. Additional PowerPoint slides, Attachment 3, and additional materials are provided and speaks to some of the following issues: 1) Reclassified operational items within the Capital Projects Fund to the General Fund. 2) Updated the Golf Course Fund budget based on recommendations from the Parks and Recreation/Golf Course staff. 3) Updated the revenue, operating expenditure and CIP budgets for the Utility Funds based on recommendations from the Utility Committee, Public Works staff and the updated utility rate mode. Projected user rate increases have been reduced. 4) Adjusted amounts for 2019 and 2020 pavement management program, ($4,640,000 for 2019 and $4,840,000 for 2020). 5) Added new middle mile fiber project to the Capital Projects Fund, $200,000 in 2019, $500,000 in 2020, $500,000 in 2021 and $800,000 in 2022. The $200,000 in 2019 is based on a full engineering assessment of current conditions, future needs, design, estimated costs and a phased implementation plan. This is staff's best guess at this point and will be refined as project moves forward. This project may also require additional professional services and/or staffing, which will need further assessment as the project progresses. 6) Increased Transportation Master Plan (TMP) First Steps CIP by $4,000,000 between 2019 and 2022 for a total of $8,000,000 for future transportation projects. This equates to an additional $1,000,000 in 2019, $1,500,000 million in 2020 and $1,000,000 in 2022 in one time transfers from the General Fund to the Capital Projects Fund. By making the proposed transfers to the Capital Projects Fund staff believes the current balances in both the General Fund and Capital Projects Fund remain reasonable except for 2022 in the Capital Projects Fund. To maintain a minimum of $1,000,000 in reserves in the Capital Projects Fund in 2022, staff recommends reducing the Capital CITY COUNCIL COMMUNICATION