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1 <br />1 111111iiii <br />Cityof Louisville <br />1 749 Main Street Louisville, Colorado 80027 666 - 6565 <br />1 <br />September 27, 1985 <br />1 <br />Honorable Mayor and Members of City Council: <br />In accordance with the statutes of Colorado related to <br />municipal budgeting, I am pleased to submit to you the <br />recommended budget for the City of Louisville for fiscal year <br />1986 commencing January 1, 1986. As developed by Council and <br />' staff through a series of study sessions over the past three <br />months, the 1986 Budget proposes expenditures of $11,269,337 <br />from the $11,539,340 in projected revenue. <br />' The major sources of revenue incorporated in the 1986 budget <br />include: <br />I 1. Sales Taxes <br />2. Property Taxes <br />3. Franchise Taxes <br />4. Water and Sewer Taps <br />I <br />5. Service/User Fees <br />6. Service Expansion Fees <br />7. Earning on Deposits <br />8. Fund Balance Carryovers <br />The 1986 Budget incorporates an increase in the property tax <br />I mill levy from the 1985 level of 7.736 mills to the proposed 1986 <br />levy of 9.736. The purpose for this mill levy increase is to <br />begin funding city-wide capital improvement projects from city- <br />wide sources of revenue (i.e., property taxes; sales taxes) <br />' rather than exclusively from growth fees which are borne solely <br />by new residents in Louisville. This method of financing city- <br />wide capital improvements would provide more equity and stability <br />U in financing the City's capital improvements programs in FY 1986 <br />and into the future. <br />1 <br />