Agenda Date: 08/01/2017Subject:
Title
A resolution of the city council of the City of Littleton, Colorado, referring to the registered electors of the City of Littleton, Colorado, a question authorizing the city to retain and spend all taxes, grants and other revenues received in 2017 and thereafter all revenues equal to the 2016 revenue total, and adjust the 2016 revenue total each year thereafter for inflation as provided by Article X, Section 20 of the Colorado Constitution; and adjust 2016 revenue total each year thereafter for the percentage change in local growth as provided by Article X, Section 20 of the Colorado Constitution.
Body
Presented By:
Tiffany Hooten, Finance Director
POLICY QUESTION:
Does city council support referring a ballot question to registered electors authorizing the city to retain and spend all taxes, grants and other revenues received in 2017 and thereafter all revenues equal to the 2016 revenue total, and adjust the 2016 revenue total each year thereafter for inflation ; and adjust 2016 revenue total each year thereafter for the percentage change in local growth as provided by Article X, Section 20 of the Colorado Constitution?
BACKGROUND:
City council discussed this issue on July 25, 2017 and directed staff to prepare two resolutions with ballot questions relating to the Taxpayer's Bill of Rights (TABOR). One resolution is to retain the 2016 TABOR excess for capital projects and the second resolution is to adjust the base. Additionally, council directed staff to specify two capital projects to be funded if approved by voters: pavement improvement initiative for residential streets and intersection safety upgrades at Bowles Avenue and Federal Boulevard.
For the fiscal year ended December 31, 2016, Littleton's revenue exceeded the TABOR limit. The $1,937,904 excess must be refunded in the following fiscal year unless voters approve a revenue change as an offset.
The city council must decide by the end of the year to ei...
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