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Cityoj <br />Louisville <br />COLORADO SINCE 1878 <br />November 27, 2019 <br />Mayor and City Council <br />City of Louisville <br />749 Main Street <br />Louisville, CO 80027 <br />Office of the City Manager <br />Mayor Stolzmann, City Council, Louisville Residents and Businesses, and City Employees: <br />I am pleased to present the 2020 Operating & Capital Budget, the updated 2019-2024 Capital <br />Improvements Plan, and the updated 2019-2024 Long -Term Financial Plan. <br />The City Council approved a 2019-2020 Biennial Budget on November 27, 2018. Due to the City's <br />Charter requirements, only the 2019 portion of the Biennial Budget was formally adopted and <br />appropriated. <br />An updated Operating & Capital Budget for 2020 was presented to City Council at its regular meeting <br />on September 3, 2019. Based on discussions at that meeting, the Special Meeting on September 24, <br />2019, and the public hearing on October 1, 2019, City Council formally adopted the 2020 Operating & <br />Capital Budget on November 4, 2019. <br />A comprehensive 2019-2020 Biennial Operating & Capital Budget document was published in January <br />2019. This current document is meant only to supplement the previously published document by <br />presenting the updated budget amounts and updated Key Performance Indicators. <br />Included within this introductory letter are: <br />• Revenue estimates and assumptions for 2019 through 2024; <br />• Operating expenditure estimates and targets for 2019 through 2024; <br />• A summary of changes to the 2019-2024 Capital Improvements Plan; <br />• A discussion of transfers between funds for 2020; and <br />• Long-term fund forecasts generated by the updated Long -Term Financial Model. <br />Included within document are: <br />• The 2020 Operating & Capital Budget by Program & Sub -Program <br />• The 2020 Operating & Capital Budget by Fund, Division, and Account <br />• An updated Summary of the 2019-2024 Capital Improvements Plan; <br />1 <br />