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.
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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