2021-2022 Biennial Operating & Capital Budget Supplemental

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LL Ci*tyor Louisville COLORADO • SINCE 1878 December 1, 2021 Mayor and City Council City of Louisville 749 Main Street Louisville, CO 80027 Office of'the City Manager Mayor Stolzmann, City Council, Louisville Residents and Businesses, and City Employees: I am pleased to present the 2022 Operating & Capital Budget, the updated 2021-2026 Capital Improvements Plan, and the updated 2021-2026 Long -Term Financial Plan. The City Council approved a 2021-2022 Biennial Budget on November 17, 2020. However, due to the City's Charter requirements, only the 2021 portion of the Biennial Budget was formally adopted and appropriated. An updated Operating & Capital Budget for 2022 was presented to City Council at its regular meeting on September 7, 2021. Based on discussions at that meeting, the Special Meetings on September 14 and September 28, 2021, and the public hearing on October 19, 2021, City Council formally adopted the 2022 Operating & Capital Budget on November 1, 2021. A comprehensive 2021-2022 Biennial Operating & Capital Budget document was published in January 2021. This current document is meant only to supplement the previously published document by presenting the updated budget amounts and updated Key Performance Indicators. Included within this introductory letter are: • Revenue estimates and assumptions for 2021 through 2026; • Operating expenditure estimates and targets for 2021 through 2026; • A summary of changes to the 2021-2026 Capital Improvements Plan; • A discussion of transfers between funds for 2022; • A City-wide budget summary for 2022; and • Long-term fund forecasts generated by the updated Long -Term Financial Model. Included within the document are: The 2022 Operating & Capital Budget by Program & Sub -Program; The 2022 Operating & Capital Budget by Fund, Division, and Account; and An updated Summary of the 2021-2026 Capital Improvements Plan.