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LL 1ty.�f CITY COUNCIL COMMUNICATION <br />Louis idle AGENDA ITEM 8A <br />COLORADO -SINCE 1.878 <br />SUBJECT: DISCUSSION/DIRECTION/ACTION — CITY MANAGER'S <br />PROPOSED 2019-2020 OPERATING & CAPITAL BUDGET, 2021 <br />— 2026 CAPITAL IMPROVEMENTS PLAN, AND 2021-2026 <br />LONG-TERM FINANCIAL PLAN — PUBLIC HEARING <br />(advertised in Boulder Daily Camera on 10/11/2020) <br />DATE: OCTOBER 20, 2020 <br />PRESENTED BY: HEATHER BALSER, CITY MANAGER <br />KEVIN WATSON, FINANCE DIRECTOR <br />SUMMARY: <br />Please find the latest recommendations for the 2021-2022 Operating & Capital Budget, <br />the 2021-2026 Capital Improvements Plan, and the 2021-2026 Long -Term Financial Plan. <br />These are similar documents (and in some cases the same documents) to those <br />presented at the September 22, 2020 City Council Meeting. The documents that have <br />been updated, include the following changes: <br />Budget Updates <br />• Adjustments to property tax revenue in the General Fund and the Recreation <br />Center Debt Service Fund to correspond with the preliminary assessed valuations <br />received from the Boulder County Assessor. <br />• An additional transfer from the General Fund to the Recreation Fund in the amount <br />of $350,000 has been added for 2021 to offset the reduction in Recreation Fund <br />revenue. <br />• Removal of the remaining expenditures for the Nite-at-the-Rec Program for 2021 <br />and the restoration of all Nite-at-the-Rec program revenue and expenditures for <br />2022. <br />• Increase in average employee merit adjustments from 1 % to 2%, for both regular <br />and variable positions. <br />• Removal of the Xcel REC Purchase from the Capital Improvements Plan and the <br />addition of $600,000 for facility audits/building efficiency efforts in 2021. <br />• Delay the Front Street Plaza Projects (Phase I and Phase II) from 2021 to 2022. <br />• Reduction in the amount of the Downtown Streetlight Improvements project. A <br />memorandum summarizing new information is included as an attachment. <br />• An additional vehicle request for the new Open Space Maintenance Technician <br />position, which will be funded from the Open Space and Parks Fund in 2021. <br />Staff will provide a presentation and review the changes during the public hearing. <br />CITY COUNCIL COMMUNICATION <br />18 <br />