Laserfiche WebLink
LLityo <br />L 4- CITY COUNCIL COMMUNICATION <br />Louisville AGENDA ITEM 7A <br />COLORADO -SINCE 1878 <br />SUBJECT: RESOLUTION NO. 51, SERIES 2020 — A RESOLUTION <br />AMENDING THE 2020 BUDGET BY AMENDING <br />APPROPRIATIONS IN THE GENERAL FUND, OPEN SPACE & <br />PARKS FUND, HISTORIC PRESERVATION FUND, <br />RECREATION FUND, CAPITAL PROJECTS FUND, <br />RECREATION CENTER CONSTRUCTION FUND, WATER <br />UTILITY FUND, WASTEWATER UTILITY FUND, STORM WATER <br />UTILITY FUND, SOLID WASTE & RECYCLING FUND, AND <br />GOLF COURSE FUND FOR VARIOUS ADJUSTMENTS TO <br />APPROPRIATIONS AND ADJUSTING BUDGETED REVENUE IN <br />THE GENERAL FUND, OPEN SPACE & PARKS FUND, <br />CONSERVATION TRUST — LOTTERY FUND, HISTORIC <br />PRESERVATION FUND, RECREATION FUND, CAPITAL <br />PROJECTS FUND, WATER UTILITY FUND, WASTEWATER <br />UTILITY FUND, STORM WATER UTILITY FUND, SOLID WASTE <br />& RECYCLING FUND, GOLF COURSE FUND, TECHNOLOGY <br />MANAGEMENT FUND, AND FLEET MANAGEMENT FUND — <br />PUBLIC HEARING (advertised Daily Camera 7/10/2020) <br />DATE: JULY 14, 2020 <br />PRESENTED BY: KEVIN WATSON, FINANCE <br />SUMMARY: <br />The attached resolution proposes amendments to the City's 2020 Operating & Capital <br />Budget. Staff requests amendments to: <br />Reduce certain operating and capital expenditure budgets in response to <br />revenue reductions due to the COVID-19 pandemic. <br />To address the revenue reductions related to the COVID-19 pandemic, staff discussed <br />with City Council the combined use of expenditure reductions and use of fund <br />reserves. To implement expenditure reductions, staff, with Finance Committee input, <br />developed the following guiding principles: <br />• Maintain adequate funding to manage and maintain City assets, including <br />preventative maintenance. <br />• Prioritize core programs/services and allocate funding for these areas. <br />• Budget for strategic investments and expenses related to the health, safety and <br />wellness of the public and City employees. <br />• Plan and budget for technology that supports remote work, which is our new reality. <br />• Pursue process improvements and efficiencies as well as service consolidation or <br />reductions to address budget impacts. <br />CITY COUNCIL COMMUNICATION <br />