Finance Committee Agenda and Packet 2020 04 21

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ILZ Cityot Louisville COLORADO - SINCE 1878 FINANCE COMMITTEE COMMUNICATION SUBJECT: DATE: CARRYFORWARD BUDGET AMENDMENT AND 2020 C-I-P APRIL 21, 2020 PRESENTED BY: KEVIN WATSON, FINANCE DIRECTOR SUMMARY: Departments have submitted their final requests to carry forward unspent budgets from 2019 to 2020 for projects that were budgeted in 2019 but not completed at year end. Staff is now working to create a packet that will provide departmental justifications and general narratives for each of these requests, which will be presented to City Council at the public hearing to amend the budget. Staff is presenting the numerical information to the Finance Committee at this time to get feedback from the Committee as to which projects are a priority and which might be deleted are delayed. Attached is a consolidated worksheet that was used by the departments to communicate their carry forward requests. The worksheet provides financial information for both 2019 and 2020, and is subtotaled by fund. The total request to carry forward unspent budget from 2019 to 2020 is $17.2 million. Any project -related revenue (grants, contributions, etc.) will also be brought forward to 2020. These have not yet been verified. There is also an additional $1.1 million of requests for "new" appropriations. Staff believes it is important to consider the carry forward amendment in context with the total capital budget for 2020. Therefore, the second attachment combines the carry forward amounts with the current Capital Improvements Plan. The 2020 Budget column contains the current capital budgets. The 2020 Estimate column contains the current capital budget plus the total carry forward requests. Assuming all the carry forward requests are approved, the total capital budget for 2020 would be $35.2 million. FINANCE COMMITTEE COMMUNICATION 9