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File #:
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Ordinance 23-2024
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Name:
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Type:
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Ordinance
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Status:
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Passed
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On agenda:
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11/19/2024
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Final action:
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11/19/2024
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Title:
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Ordinance 23-2024: An ordinance on second reading appropriating funds for the 2025 annual budget for all municipal purposes of the City of Littleton, Counties of Arapahoe, Douglas, and Jefferson, State of Colorado, for the fiscal year beginning January 1, 2025, and ending December 31, 2025
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Agenda Date: 11/19/2024
Subject:
Title
Ordinance 23-2024: An ordinance on second reading appropriating funds for the 2025 annual budget for all municipal purposes of the City of Littleton, Counties of Arapahoe, Douglas, and Jefferson, State of Colorado, for the fiscal year beginning January 1, 2025, and ending December 31, 2025
Body
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From: |
James L. Becklenberg, City Manager |
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Prepared by: |
Kevin Orton, Budget Manager |
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Presentations: |
Tiffany Hooten, Finance Director |
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Kevin Orton, Budget Manager |
PURPOSE:
Council consideration of the 2025 annual budget for all municipal purposes of the City of Littleton, Counties of Arapahoe, Douglas, and Jefferson, State of Colorado, for the fiscal year beginning January 1, 2025, and ending December 31, 2025.
LONG-TERM OUTCOME(S) SERVED:
High-Quality Governance
DISCUSSION:
The 2025 annual budget total appropriations for all municipal purposes is $114,831,846. Of that amount, $63,283,760 is for the General Fund. The ending balance in the General Fund for 2025 is $18,356,028. The fund balance as a percentage of expenses at the end of the five-year long-range forecast is 8.1%, which is below the city’s revised fund balance reserve policy of 18-25%. A forecast can change over the years and while this is below the recommended reserve, there is ample time to make adjustments as necessary.
Potential future ongoing revenues from new developments in 2026 are not accounted for in the financial forecast. If potential revenues are included, the fund balance as a percentage of expenses at the end of the five-year long-range forecast would be 33%. The 2025 budget maintains critical city services while revenues from future developments is uncertain at this time.
The following are changes in the 2025 Proposed Budget based on budget discussions at the September 7 and October 8, 2024, council study sessions.
• Add $700,000 to 3A Capital Improvements Fund 2025 Proposed Budget for the Euclid Complete Streets project.
• Add $500,000 to the 3A Capital Improvements Fund 2025 Proposed Budget for Traffic Calming project.
• Reduce $4,640,000 in the 3A Capital Improvement Fund 2025 Proposed Budget to fund the increase to the Euclid Complete Streets project and reserve $3,940,000 for potential future debt service payments for major projects.
o $4,600,000 from the Santa Fe & Mineral project
o $40,000 from Park Amenity upgrades to be funded by Open Space Fund in 2025
• Reduce $3,500,000 in the Capital Projects Fund 2025 Proposed Budget to fund the increase to the Traffic Calming Project and reserve $3,000,000 for potential future debt service payments for major projects.
o $3,500,000 from the Santa Fe & Mineral Project
BACKGROUND:
The city’s leadership team developed and thoroughly reviewed the 2025 Proposed Budget. Council reviewed the 2025 Proposed Budget during study sessions held on September 7 and October 8, 2024. The Strategic Framework, vision statement, long-term outcomes, success indicators, and 2-3-year goals and priorities have been incorporated into this year’s budget development process and used to inform the 2025 budget priorities.
Prior Actions or Discussions
Council reviewed the 2025 Proposed Budget during study sessions held on September 7 and October 8, 2024.
This ordinance passed on first reading on October 15, 2024.
FISCAL IMPACTS:
The policy questions and budget were reviewed by council during two study sessions and information is available at the Bemis Public Library, the City Clerk’s Office, and the City of Littleton website for public review.
The following is a 2025 budget summary for all funds in this appropriation ordinance:
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Fund |
Beginning Fund/Cash Balance |
Revenues |
Expenditures |
Ending Fund/Cash Balance |
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General Fund |
$22,262,040 |
$59,377,748 |
$63,283,760 |
$18,356,028 |
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Affordable Housing |
514,062 |
1,359,352 |
500,000 |
1,373,414 |
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Conservation Trust |
435,085 |
268,702 |
155,599 |
548,188 |
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Consolidated Special Revenue |
775,705 |
143,373 |
831,988 |
87,090 |
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Grants |
- |
8,076,000 |
8,076,000 |
- |
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Open Space |
984,351 |
2,106,105 |
1,989,679 |
1,100,777 |
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Impact Fees |
6,290,314 |
6,579,582 |
5,966,264 |
6,903,632 |
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Lodgers Tax |
947,669 |
850,000 |
853,720 |
943,949 |
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Capital Projects |
2,941,349 |
8,414,542 |
4,409,659 |
6,946,232 |
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3A Sales Tax |
10,130,695 |
11,879,744 |
14,151,116 |
7,859,323 |
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Geneva Village |
119,209 |
650 |
72,098 |
47,761 |
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Employee Insurance |
2,319,009 |
8,316,579 |
8,787,055 |
1,848,533 |
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Fleet Maintenance |
7,556 |
4,718,830 |
3,573,856 |
1,152,530 |
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IT/Equipment |
758,718 |
1,056,088 |
920,000 |
894,806 |
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Property & Liability |
942,759 |
977,446 |
1,261,052 |
659,153 |
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Total |
$49,428,521 |
$114,124,741 |
$114,831,846 |
$48,721,416 |
STAFF RECOMMENDATION:
Staff recommends approval of the ordinance on second reading adopting the 2025 annual budget.
ALTERNATIVES:
N/A
PROPOSED MOTION:
Proposed Motion
I move to approve Ordinance 23-2024 on second reading appropriating funds for the 2025 annual budget for all municipal purposes of the City of Littleton, Counties of Arapahoe, Douglas, and Jefferson, State of Colorado, for the fiscal year beginning January 1, 2025, and ending December 31, 2025.
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