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112 Cityof <br />Om Louisville <br />COLORADO - SINCE 1878 <br />November 6, 2023 <br />Mayor Maloney and City Council, <br />I am pleased to present the 2024 Operating & Capital Budget, the updated 2023-2028 <br />Capital Improvements Plan, and the updated 2023-2028 Long -Term Financial Plan. <br />The Budget is presented in accordance with City Charter, Municipal Code and State Statutes. <br />The City Council approved a 2023-2024 Biennial Budget on November 15, 2022. However, per City <br />Charter requirements, only the 2023 portion of the Biennial Budget was formally adopted and <br />appropriated. <br />A comprehensive 2023-2024 Biennial Operating & Capital Budget document was published in <br />January 2023. This current document is meant only to supplement the previously published <br />document by presenting the updated budget amounts and updated Key Performance Indicators. <br />Included within this introductory transmittal letter are: <br />• Revenue estimates and assumptions for 2023 through 2028; <br />• Operating expenditure estimates and targets for 2023 through 2028; <br />• A summary of changes to the 2023-2028 Capital Improvements Plan; <br />• A schedule of budgeted transfers between funds for 2024; <br />• A City-wide budget summary for 2024; and <br />• Long-term fund forecasts generated by the Long -Term Financial Model. <br />Also included within the document are: <br />• 2024 Operating & Capital Budget presented by Fund, Division and Account; and <br />• 2024 Operating & Capital Budget presented by Program and Sub -Program. <br />• An updated Summary of the 2023-2028 Capital Improvements Plan; <br />1 <br />