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HomeMy WebLinkAboutStudy Session Agenda Packet 11-17-14STUDY SESSION AGENDA CITY COUNCIL CITY OF WHEAT RIDGE, COLORADO 7500 W. 29 1h Ave. Wheat Ridge CO November 17, 2014 6:30p.m. Individuals with disabilities are encouraged to participate in all public meetings sponsored by the City of Wheat Ridge . Call Heather Geyer, Administrative Services Director at 303-235-2826 at least one week in advance of a meeting if you are interested in participating and need inclusion assistance. PUBLIC COMMENT ON AGENDA ITEMS APPROVAL OF AGENDA .L 2015 Budget Review 2. Post-election review and discussion ~ Staff Report(s) 4. Elected Officials' Report(s) ADJOURNMENT "~ '# .... ~ .-City of • ~Wheat&._,dge ~OFFICE OF THE 01Y MANAGER TO: FROM: DATE: SUBJECT: Memorandum Mayor and City Council (\l Patrick Goff, City Manager W' November 12, 2014 (for Study Session ofNovember 17th) Proposed 2015 City Budget Staff presented the proposed 2015 budget to City Council at the October 201h study session. The proposed budget provided for an ending unrestricted fund balance of 17%, the minimum required by City Council policy. In addition, $1.4 million was proposed for transfer from the fund balance to the Capital Investment Program budget and just under $800,000 was proposed to balance the General Fund budget. Direction was received from City Council to balance the General Fund budget without using the fund balance. The following three options have been developed for Council's consideration: Original Council Option #1 Option #2 Proposed Recommended GFRevenue $28,990,382 $28,990,382 $28,990,382 $28,990,382 GF Expenditure $29,784,588 $28,990,382 $28,990,382 $28,990,382 CIP Transfer $1,400,000 $1,400,000 $2,460,000 $0 Equip Transfer $125,000 $125,000 $0 $0 GF Reserves $ $5,057,502 $5,875,555 $4,940,535 $7,400,535 GF Reserves % 17% 20% 17% Council Recommended Option: • Balanced General Fund budget of$28,990,382, includes reductions in service in the amount of$794,206 (see Attachment #1 for specific reductions) • Transfer to Capital Investment Program (CIP) Fund in the amount of $1.4 million • Transfer to Capital Equipment Replacement Fund in the amount of $125,000 • Increase unrestricted fund balance to 20% (above the minimum 17% City Council unrestricted fund balance requirement) Option #1 • Balanced General Fund budget of$28,990,382, includes reductions in service in the amount of $794,206 (see Attachment #I for specific reductions) • Transfer to Capital Investment Program (CIP) Fund in the amount of $2.46 million 25% o Increase preventative street maintenance to $3.3 million (up from $1.6 million) • No transfer to Capital Equipment Replacement Fund • Maintain unrestricted fund balance at 17% (minimum required by City Council policy) Proposed 2015 City Budget November 12,2014 Page 2 Option #2 • Balanced General Fund budget of$28,990,382, includes reductions in service in the amount of $794,206 (see Attachment #1 for specific reductions) • No transfer to Capital Investment Program (CIP) Fund o Reduce preventative street maintenance to $900,000 • No transfer to Capital Equipment Replacement Fund • Increase unrestricted fund balance to 25% (meets the City Council unrestricted fund balance target amount) Capital Investment Program (CIP) Budget The City's proposed 2015 -2023 CIP budget demonstrates the severity of our funding gap in regards to unfunded capital needs . Beyond 2015 , funds will not be available for capital needs unless significant cuts are made to operating expenses or additional revenues are found. For 2015, regardless of which of the CIP scenarios are selected from above, the City has an obligation of$3,985,228 in grant funded projects to complete (grant funded projects in bold in the table below). Council Recommended -this C IP option will allow for the City to fulfill its current grant commitments, $1.6 million in preventative street maintenance , and $600 ,000 available for other discretionary CIP projects. 2015 PROPOSED CIP PROJECTS BUDGET Misc. Drainage Improvements $250,000 Maple Grove Reservoir $10,000 Kipling Pedestrian Improvements $2,835,000 Bike/Pedestrian Improvements $100,00 Tabor Street Improvements-Gold Line $680,228 Street Lights $15,000 Preventative Street Maintenance $1 ,600 ,000 Wadsworth PEL $470,000 ADA Transition Plan $50,000 Traffic Signal Improvements $50,000 Neighborhood Traffic Management $100,000 New Shop Funding $25,000 Total $6,185,228 Proposed 2015 City Budget November 12, 2014 Page 3 Option #1-this CIP option will allow for the City to fulfill its current grant commitments, $3.3 million in preventative street maintenance and $310,000 in priority discretionary CIP projects. 2015 PROPOSED CIP PROJECTS BUDGET Misc. Drainage Improvements $250,000 Maple Grove Reservoir $10,000 Kipling Pedestrian Improvements $2,835,000 Tabor Street Improvements -Gold Line $680,228 Preventative Street Maintenance $3,300,000 Wadsworth PEL $470,000 ADA Transition Plan $50,000 Total $7,595,228 Option #2 -this CIP option will allow for the City to fulfill its current grant commitments, $900,000 in preventative street maintenance and $31 0,000 in priority discretionary projects. 2015 PROPOSED CIP PROJECTS BUDGET Misc. Drainage Improvements $250,000 Maple Grove Reservoir $10,000 Kipling Pedestrian Improvements $2,835,000 Tabor Street Improvements -Gold Line $680,228 Preventative Street Maintenance $900,000 Wadsworth PEL $470,000 ADA Transition Plan $50,000 Total $5,195,228 The public hearing and adoption of the proposed 2015 budget is scheduled for Monday, December 9, 2014. ATTACHMENT I. 2015 General Fund Budget Reductions to Balance Budget 2015 General Fund Budget Reductions to Balance Budget Budget Program Budget Budget Item Reductions 102 -610 Carnation Festival overtime pay $2,500 102-780 Senior Circulator Bus $12,000 102 -780 Arvada Food Bank $5,000 102-780 Jeffco Action Center Capital Contribution $10,000 102-780 Jeffco Outdoor Lab $10,000 102-780 Zoppe' Circus/Carnation Festival $30,000 102-780 General Table sponsorships $3,000 102-780 Jeffco Outdoor Lab $6,450 105-720 Renewal Wheat Ridge Annual Contribution $150,000 105-721 Block Improvement Program Increase $20,000 105-710 Marketing $10,000 105-721 Community Engagement and Communication $50,000 105-710 Ridge at 38 Events $10,000 105-706 WR2020-Results . com $11 ,000 106-750 mise professional services $20,000 111-750 Aging Needs Implementation $13,000 111-750 professional photography $1,256 112-731 wellness coach $9,000 112 -797 PTO Buy Back program $50,000 117-728 Reduce training in IT $5,000 117-809 Cisco Fire wall $170,000 118-812 LED retrofit at City hall $35,000 123-750 Kipling Corridor Study $50,000 303 -750 44th Ave ROW reconciliation $30,000 303 -809 Speed Trailers with options $26,000 303-807 3/4 Ton Cargo Van (New addition) $45,000 603 -750 xmas figurines SlO,OOO Overall total $794,206 Attachment 1