|
L
<br />Cit 0t
<br />Louisville
<br />COLORADO - SINC
<br />CITY COUNCIL COMMUNICATION
<br />AGENDA ITEM 3A
<br />SUBJECT:
<br />DISCUSSION/DIRECTION 2018 BUDGET —
<br />OPEN SPACE & PARKS FUNDING POLICY
<br />DATE: OCTOBER 10, 2017
<br />PRESENTED BY: KEVIN WATSON, FINANCE
<br />SUMMARY & FISCAL IMPACT:
<br />As discussed at the August 8, 2017 Budget Retreat, the recurring revenue in the Open
<br />Space & Parks Fund is no longer sufficient to fund its recurring operational
<br />expenditures, let alone its annual capital outlay. The Open Space & Parks Fund is also
<br />projected to spend down its reserves to minimum levels by the end of 2018. Therefore,
<br />the Open Space & Parks Fund will no longer be able to use its reserves to help fund its
<br />ongoing operations and capital improvements plan.
<br />The following table summarizes the projected operating deficits for 2017 through 2021.
<br />Note that the operating deficit is projected to double from 2017 to 2021.
<br />2017 2018• 2019 2020 2021
<br />Es ima a Rep Bdgt Projection Projection Projec'1ion
<br />Operating Revenue;
<br />Taxespj 1,990,040 2.080,540 2,064,370 2,102,E-80 2,132,400
<br />Other Miscellaneous 77,100 53,130 4,E-€0 47,740 48,960
<br />Total Operating Revenue 2,078,14+0 2,133,670 2,110,930 2,150,3210 2,181,360
<br />Operating Expenditures:
<br />Central Fund-'a"idee Charges 264,285 251,016 30E,810 321,£30 338,200
<br />Snow & Ice Removal 83,800 85,310 90850 95,510 100,430
<br />Open Space Admin & Ops 581,355 627,402 1,030 6134,360 730.730
<br />Parks Admin & Opus 1,449,817 1,4.=0.-e 9E 1 523,150 1,604,970 1,691 ..-''C
<br />Total Operating Expenditures 2,379,257 2,445,423 2,580,840 2,717,070 2,860,900
<br />Total Operating Surplus(Deficit) (303,117) (311.753) (469.910) (566,750) (679,540)
<br />f 4� Traci' 'des `non-recurrrng" building revenue
<br />The next table summarizes the projected capital deficits for 2017 through 2021. Since
<br />all sales and use taxes are committed to funding operations, the only capital -related
<br />revenue consists of project grants, developer contributions, land dedication fees, and
<br />impact fees.
<br />CITY COUNCIL COMMUNICATION
<br />
|