Laserfiche WebLink
June 22, 2010 <br />Page 2 of 7 <br />City Manager Fleming explained the City’s budget is the most significant policy <br />considered by the Louisville City Council each year; it establishes the City’s <br />priorities and provides funding to achieve those priorities. Based on public <br />comments and City Council discussion and direction during this meeting, staff will <br />begin preparing the recommended budget for Council consideration in October. <br />Finance Director Kevin Watson explained the 2011 Capital Improvement budget <br />has been formulated based on assumptions about anticipated revenue and <br />expected expenditures over a five year period. Those assumptions drive the <br />projections of changes in fund balance. He reviewed the 2010 Revenue Trend <br />Dashboard for the General Fund and compared the 2009 actual revenue with the <br />2010 trend. He outlined the assumptions and targets affecting each fund over the <br />2010-2015 year period and noted a reduction in the water utility user fee. He <br />reviewed the expected expenditures targets, which were reduced due to the <br />reduction in the total salaries and wages and employees’ benefits. <br />Deputy City Manager Balser clarified the use tax discussed in the financial model <br />is a construction use tax. <br />PUBLIC COMMENT <br />Bruce Becker, 533 Coal Creek Lane, Louisville, CO asked whether the fiscal <br />assumption included federal stimulus money. Finance Director Watson <br />explained the City did not receive any federal stimulus money and therefore, he <br />only looked at the local economy. <br />COUNCIL COMMENTS <br />Mayor Pro Tem Marsella inquired whether the development fees were included. <br />Finance Director Watson confirmed development fees were included in the <br />model. He reviewed the forecasts for the General Fund, Conservation Trust <br />Fund, Capital Projects Fund and Combined Utility Funds. <br />COUNCIL COMMENTS <br />Mayor Sisk inquired about the increased rates of employee benefits, medical, <br />retirements and FICA. City Manager Fleming explained the City has shifted a lot <br />of the rate increases to the City employees. <br />Mayor Sisk explained his concern centers on runaway expenses. He asked if <br />there was a way to have a cap on benefits. City Manager Fleming explained <br />Staff could look at other municipalities to see how their employees are benefited. <br />Mayor Sisk inquired about the projection of property taxes for ConocoPhillips. <br />Finance Director Watson confirmed they are built into the model. <br />28 <br /> <br />