2014 BUDGET - Laserfiche WebLink

Home Browse Search

Cityof Louisville COLORADO • SINCE 1878 December 20, 2013 Mayor and City Council City of Louisville 749 Main Street Louisville, CO 80027 Dear Mayor and City Council: Office of the City Manager I am pleased to present the 2014 Annual Operating and Capital Budget. The 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 2014 Budget on November 4, 2013 by passing Resolutions 59, 60, and 61. The unprecedented rains this year challenged the City by flooding homes and businesses, washing away bridges, destroying water utility infrastructure, obliterating trails and severely damaging the golf course. But throughout Louisville people are working together with City staff to recover and rebuild even better than before the flood. Fortunately, we have set aside reserves in previous years to help the City through these challenges and the local economy is strong. The City's fiscal health makes it possible to adopt a 2014 Budget and Five -Year Capital Improvements Plan to fund several large capital projects including Flood Restoration projects ($10.65 million), the City Services Facility reconstruction ($8.2 million), the Diverging Diamond Interchange at McCaslin Blvd and U.S. 36 ($3.5 million to be combined with $9.0 million from other entities), and the South Street Gateway Underpass ($2.6 million), while still increasing funding for the City's street resurfacing program from the current level of $1.25 million, to $1.5 million in 2016 and then $1.75 million in 2017 and 2018. This will optimize the level of resurfacing we can do and minimize the life -cycle costs of maintaining the City's streets. Guiding Principles In June of 2009, the Council agreed on the following guiding principles for budget development: 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 kept these principles in mind as we prepared the 2014 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 1