City Council Minutes 2004 10 19 - Laserfiche WebLink

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Louisville City Council Meeting October 19, 2004 Page 11 of 15 MOTION: Mayor Sisk moved that Council continue Ordinance No. 1453, Series 2004 to November 3, 2004. Council member Levihn seconded the motion. The vote was 5-2. Council members Brown and Marsella. voted no. Mayor Sisk requested that Council members Van Pelt and Levihn, the City Staff, City Attorney, Counsel for the applicant and the applicants participate in the discussions. PRESENTATION OF PROPOSED 2005 BUDGET - Set public hearing for 11/03/04 Mayor Sisk requested a Staffpresentation. City Manager Bill Simmons reported the Louisville Home Rule Charter stipulates the City Manager deliver a proposed budget to the City Council by the 3rd Tuesday of October. He explained when the budget process began in June of 2004, several goals were set that are reflected in the 2005 budget. These goals include maintaining Louisville as a safe city, continue SH 42 revitalization effort, adopt a new comprehensive plan, construct a new library, construct and complete the community park, complete a remodel of the City Hall, complete the City shops renovation, design, construct and complete the reconstruction of Dillon Road, continued work with the Town of Superior on the McCaslin Overpass Improvements and the Windy Gap Finning Project. Revenue fund highlights of the 2005 budget. Property Taxes - The assessed valuation of property in Louisville for 2004 - to be collected in 2005 is $385,866,087. The general operating mill levy will remain at 5.184 and will generate $2,000,330 in property taxes. The 1.526 mill levy in 2003 to cover the debt service payment for the new library is not expected to change and will generate $586,400 revenue in 2005. Sales Tax - The project for 2004 estimated sales tax is $9,944,834. The projection for the 2005 sales tax budget takes into account the City's Consumer Price Index growth percentages of 2.5% for a total $10,180,259. The sales tax rate in the City is 3.37% and the largest single source of revenue. The collection is currently allocated to three funds; the Capital Projects Fund, the Conservation Trust Fund - Land Acquisition Fund, and the General Fund. New capital projects will contribute to increases in the General Fund. Those projects are as follows: Police Department/Court Building; Warembourg Pond; In-Line Rink; Skateboard park;' Highway 42/96th Street Connection; Pickett/Savage Open Space; Community Park and the new library. Building fees are down as are user fees at Senior/Recreation Center as a result of more fitness centers opening in the surrounding areas. The Water and Wastewater funds were down as a result of the City's conservation efforts and excessive amount of rain during the summer months, which lead to lower water usage. Expenditures highlights of the 2005 budget. 11