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Officeof the City Manager January 15, 2010 Mayor and City Council City of Louisville 749 Main Street Louisville, CO 80027 Dear Mayor and City Council: I am pleased to present to you the 2010 Annual Operating and Capital Budget. The City of Louisville Municipal Code section 3.04.030 states that the City Council shall adopt an annual budget for each fiscal year in accordance with the procedure set forth in the Local Government Budget Law of Colorado, (Code 1962, 6.2; Code 1977, 3.04.020). City Council formally adopted the 2010 Budget on November 2, 2009 by passing Resolutions 36, 37, and 38. This budget and all related material were prepared before the recent announcement regarding Sam’s Club. The loss of Sam’s Club, the City’s largest retailer, will significantly impact the General Fund, Conservation Trust – Land Acquisition Fund, Historical Preservation Fund, and the Capital Projects Fund. Those impacts are not included within this document. Once we determine the response to the loss of sales tax revenue in each fund, staff will prepare an amendment to the 2010 budget for Council approval. Guiding Principles When we started the budget process in June of 2009 the Council agreed on the following guiding principles. 1. Provide high quality core services; do it well or don’t do it. 2. Talented, motivated, well-trained employees are the City’s most important asset. 3. Maintain our investments. 4. Don’t expect short-term actions to resolve long-term problems. 5. Consider unintended consequences. 6. Share information and ask employees, residents and businesses for their input and remember that Leadership is what they expect from us. We have kept these principles in mind as we prepared the 2010 budget. As you know, the City’s budget is the most significant policy considered by the Louisville City Council each year; it establishes the City’s priorities and provides funding to achieve those priorities. The budget process, including the formal public hearing, provide the public with many opportunities to comment on and advise the City Council about those priorities and levels of funding. In addition to the public hearing, we solicit and receive input from numerous sources, including public involvement at regular City Council meetings and study sessions, feedback from the City’s various Boards and Commissions and information from surveys like last year’s survey on voters’ preferences for service reductions and/or tax and fee increases. We also provided information, addressed questions and asked for ideas and suggestions about budget issues during a series of special budget presentations, in discussions about Memory Square Pool, during Ward meetings, the Mayor’s “Chat with Chuck”, and other City events. By considering citizens’ comments in all of these forums and making changes as necessary, the City Council ensures that the final 2010 budget truly reflects the interests of the community. ï