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City Council <br /> Special Meeting Minutes <br /> June 22, 2010 <br /> Page 2 of 7 <br /> City Manager Fleming explained the City's budget is the most significant policy <br /> considered by the Louisville City Council each year; it establishes the City's <br /> priorities and provides funding to achieve those priorities. Based on public <br /> comments and City Council discussion and direction during this meeting, staff will <br /> begin preparing the recommended budget for Council consideration in October. <br /> Finance Director Kevin Watson explained the 2011 Capital Improvement budget <br /> has been formulated based on assumptions about anticipated revenue and <br /> expected expenditures over a five year period. Those assumptions drive the <br /> projections of changes in fund balance. He reviewed the 2010 Revenue Trend <br /> Dashboard for the General Fund and compared the 2009 actual revenue with the <br /> 2010 trend. He outlined the assumptions and targets affecting each fund over the <br /> 2010 -2015 year period and noted a reduction in the water utility user fee. He <br /> reviewed the expected expenditures targets, which were reduced due to the <br /> reduction in the total salaries and wages and employees' benefits. <br /> Deputy City Manager Balser clarified the use tax discussed in the financial model <br /> is a construction use tax. <br /> PUBLIC COMMENT <br /> Bruce Becker, 533 Coal Creek Lane, Louisville, CO asked whether the fiscal <br /> assumption included federal stimulus money. Finance Director Watson <br /> explained the City did not receive any federal stimulus money and therefore, he <br /> only looked at the local economy. <br /> COUNCIL COMMENTS <br /> Mayor Pro Tem Marsella inquired whether the development fees were included. <br /> Finance Director Watson confirmed development fees were included in the <br /> model. He reviewed the forecasts for the General Fund, Conservation Trust <br /> Fund, Capital Projects Fund and Combined Utility Funds. <br /> COUNCIL COMMENTS <br /> Mayor Sisk inquired about the increased rates of employee benefits, medical, <br /> retirements and FICA. City Manager Fleming explained the City has shifted a lot <br /> of the rate increases to the City employees. <br /> Mayor Sisk explained his concern centers on runaway expenses. He asked if <br /> there was a way to have a cap on benefits. City Manager Fleming explained <br /> Staff could look at other municipalities to see how their employees are benefited. <br /> Mayor Sisk inquired about the projection of property taxes for ConocoPhillips. <br /> Finance Director Watson confirmed they are built into the model. <br />