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City of Louisville
<br />Three -Year Budget Summary
<br />Cash Flow Statement - All Funds
<br />2002 2003 2004
<br />Actual Projected Budget
<br />Explanation of Variance
<br />Beginning Cash Balance, January 1
<br />Revenues
<br />General Property Taxes
<br />Sales Tax
<br />Use Tax
<br />Lodging Excise Tax
<br />Franchise Tax
<br />Other Taxes
<br />$ 23,221.018 $ 34,853,866 $ 20,889,032
<br />1,931,501 1,915,000 2,578,322
<br />9,377,591 9,525,900 9,942,050
<br />1,735,533 1,634,160 1,460,421
<br />250,000 250,000
<br />703,642 796,024 826,066
<br />183,337 156,322 153,000
<br />Licenses 8 Permits 589,227 752,664 601,988
<br />Intergovernmental
<br />13, 007, 359 1,159, 592 1,565,064
<br />Charges for Services 9,289,402 10,606,820 10,310,930
<br />Fines 8 Forfeitures 182,024 159,750 156,000
<br />Miscellaneous
<br />1,808,735 1.0 70.564 1,041,098
<br />Total Revenues 38,808.351 28,026,796 28,884,939
<br />Expenditures
<br />Personal Services
<br />9,482,164 9,777,955 10,254,045
<br />Supplies 822,776 857,928 906,994
<br />Contractual Services 6,305,964 6,207,071 6,638,034
<br />Debt Service 2,137,245 2,082,157 3,075,495
<br />Capital Outlay 8,197,833 33.998,519 20.290.487
<br />Total Expenditures 26,945,982 52,923,630 41,165,055
<br />Transfers In
<br />Transfers Out
<br />Bond or Loan Proceeds
<br />483,811
<br />(483,811)
<br />401,633
<br />(401,633)
<br />11,750,000
<br />1,047,990
<br />(1,047,990)
<br />8,155,000
<br />Increase in 2004 due to the voter approved mill levy increase for the
<br />payment of debt service on the library bonds and due to the increase in
<br />assessed value for the property located in the City.
<br />Sales tax increase in 2003 due to improvement in sales for existing
<br />businesses. Sales tax increase in 2004 due to improvement in sales for
<br />existing businesses and the addition of several retail stores at the end of
<br />2003.
<br />New lodging excise tax approved by voters in November 2002 to begin in
<br />January 2003.
<br />Increase in 2003 and 2004 due to significantly increased natural gas rates
<br />and energy sales used in calculation of franchise taxes.
<br />Increase in 2003 as compared to 2002 due to inctease in construction
<br />permits due to one projected development project.
<br />Increase in 2002 due to the receipt of $12 million from the Northwest
<br />Parkway Authority for the construction of the Northwest Parkway road.
<br />Increase in 2004 due to the expected receipt of $450,000 in county funds
<br />for road construction.
<br />Decrease in 2002 due to lower water and sewer user fees received due to
<br />significant drought watering restrictions. Rate structure changed in 2003
<br />and is projected to increase revenues.
<br />Increase in interest in 2002 due to higher cash balances for Northwest
<br />Parkway. Decrease in 2003 and 2004 due to lower interest rates and
<br />decreases in cash balances due to the completion of several large capital
<br />improvements.
<br />Annual increases due to normal pay increases and increased benefit costs.
<br />Increase in 2004 includes the addition of one full-time position in the open
<br />space program and part-time salaries for the Nile at the Rec program and
<br />for an engineering technician in the Water and Wastewater Fund.
<br />Increase in 2004 due to the addition of a new loan from the Colorado Water
<br />Resources and Power Development Authonty in the City's Water and
<br />Wastewater Enterprise Fund.
<br />Increase in 2003 due to the construction of the Northwest Parkway, the nem
<br />Police Facility, and approximately $10 million in water rights. Capital Outlay
<br />in 2004 includes the construction of a new library, a community park, and
<br />several water and wastewater system improvements.
<br />Other Uses of Cash (229,521) (818,000)
<br />Net Increase ( Decrease) in Cash Balance 11.632,848 (13,964.834) (4,125,116)
<br />Budgeted Ending Cash Balance, December 31 $ 34,853,866 $ 20.889,032 $ 16,763,916
<br />Reserves, Restrictions, Designations (4,032,403) (1,697,105) (1,432,552)
<br />Unrestricted Cash Balance, December 31 $ 30,821,463 $ 19,191,927 $ 15.331,364
<br />38
<br />Proceeds in 2003 include loan in the Water and Wastewater Fund from
<br />the Colorado Water Resources and Power Development Authority for the
<br />purchase of water rights and the completion of system improvements.
<br />Proceeds in 2004 are pnmarily from ne expected issuance of bonds for the
<br />construction of a new library as approved by the voters.
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