City Council Agenda and Packet 2010 10 19

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City Council Meeting Minutes October 5, 2010 Page 8 of 13 The Forecast Assumptions do not assume passage of a Consumer Use Tax, Amendments 60 and 61 or Proposition 101, and does not include fiscal impacts of the ConocoPhillips development. Sales Tax Revenue is projected to decline by 2.5% and Property Tax Revenue to decline by 1.0 %. Employee compensation is projected to increase by 2.6% and Employee benefits by 5.9 %. The total General Fund revenues are projected to increase at an annual rate of 0.8% from 2010 through 2015. The total General Fund expenditures are projected to increase at an average annual rate of 2.8% from 2010 through 2015. Major Capital Projects (C -I -P) — Street Repair & Reconstruction Program; City Shops Remodel; Windy Gap Expenses & Debt Service; Vehicle /Road Equipment Replacement; North Louisville Drainage; Drainage A -2; Sewer line Replacement; Water line Replacement; McCaslin /Dillon Intersection. Total Water Fund expenses are budgeted to decline. Reserves are expected to decline over the next few years due to funding for large capital projects. PUBLIC COMMENTS Jean Morgan, 1131 Spruce Street, Louisville, CO requested the City Council consider a merit pay freeze for median salaried employees to restore the hours and benefits cut from some City employees and programs reduced or eliminated in the 2010 budget. She commended City Manager Fleming for refusing his merit raise for the last two years. She stated the museum needs a facility, which will provide storage, office and classroom and requested Council consider budgeting $20,000 to $30,000 for the plans and drawings. She noted Louisville residents passed the Historic Preservation Tax and feel very strongly about the importance of preserving Louisville's history. She noted her comments were not meant to advertise for the use tax. COUNCIL COMMENTS Councilor Sackett voiced his support for the budget and stressed its importance. He addressed the problems the recession has caused for the local economy. He did not support a pay freeze for some employees and stated it is always easier to keep up rather than catch up. Mayor Pro Tem Marsella applauded the work on the budget and stated it is by far the easiest budget to follow. Mayor Sisk addressed the forecast assumptions and noted if the use tax fails and Amendments 60, 61 or Proposition 1010 should pass, budget adjustments would be made. He also did not support wage freezes for some employees. City Manager Fleming requested the Council consider changes they might want to see in the proposed Budget in order to finalize it for the public hearing. Based on public 11