1980 BUDGET - Laserfiche WebLink

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GRANTS 1. Housing and Urban Development $1,946,350 2. Federal Revenue Sharing 44,760 3. State Highway 160,095 TOTAL $2,151,205 GRAND TOTAL OUTSIDE SOURCES OF REVENUE $4,749,705 After deducting the above named revenues, we are left with a balance of $2,745,320 in other revenue. The economic picture is as bright or brighter than in 1979, this is due primarily to the recent and proposed growth picture in 1980. Centennial Valley Mall will have completed some stores and the balance will be built in 1981, that coupled with the development proposed in the Colorado Tech Center will improve our tax base sub- stantially. The increased cost of supplies, salaries and inflation places us in the position of relying more and more on outside sources of revenue to fund the operational and maintenance aspects of the City operations Although our financial position improves from year to year due mainly to our annexations and operation policies it is extremely important that the City continue to develop or increase the more continuing or permanent type revenue sources to replace that revenue derived from growth. After a careful review of all budget requests and our projected revenue picture and also in keeping with the Mayor and City Council's stated policy that present mill levy should not be increased, the budget provides for a decrease in the tax levy of 3.75 mills in the General Improvement Fund. This only effects the older part of Louis- ville that was included in the 1959 Street District. The levy proposed is as follows: General Fund Pool Fund Capital Improvement 8.16 mills .84 mills 2.00 mills In closing I want to thank the department heads and other members of the City Staff who assisted in the preparation of the budget. I also want to thank you, the Mayor and the City Council, for the III