City Council Study Session Summary 2005 06 28

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1.1 City Council Budget Study Session Summary June 28, 2005 Louisville Recreation/Senior Center 900 West Via Appia 12:00 PM City of Louisville The City Council of the City of Louisville met for a budget study session at 12:00 p.m. at the Louisville Recreation Senior Center, 900 West Via Appia, Louisville, Colorado. City Council Present: Mayor Chuck Sisk, Mayor Pro-Tem Jay Keany, Don Brown, Dave Clabots, Arnie Levihn, Sheri Marsella and Michele Van Pelt Staff Present: Bill Simmons, City Manager Heather Balser, Asst. City Manager for Govt. Relations Julie Boyd, Deputy City Manager Bruce Goodman, Police Chief Patty Leslie, Finance Director Cindy Lair, Director of Land Management Anne Mojo, Library Director Tom Phare, Public Works Director Keith Williams, Director of Recreation/Senior Center Paul Wood, Planning Director The meeting was called to order at 12:00 p.m. by Mayor Sisko 2005 Year in Review- City Manager Bill Simmons reviewed with the City Council agenda items, projects and tasks that the Mayor, Council and staff spent time on during the year since the July, 2004 budget study session. 2005 Financial Year in Review - Finance Director . 2005 Revenue and Expenditure Forecasts - Patty Leslie reviewed the trend the City is seeing for declining revenues in the General Fund, due to decreases in Sales Taxes, Licenses & Permits and Intergovernmental Revenues. Preliminary estimates for 2005 projected revenue indicate a decrease of approximately 2% from the budgeted amount, approximately $200,000. At the same time the City is experiencing increasing expenditures due to increased overhead including personnel costs, utilities, fuel costs and others. . Status of 2005 Major Capital Expenditure Projects - The Council reviewed the Capital Projects budget for 2005 noting that there are no anticipated savings as most projects are completed or underway.