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ITEM 1 - CALL TO ORDER
Mayor Burkholder called the meeting to order at 1:00 p.m. in the Cabinet Room
of the Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.
ITEM 2 - ROLL CALL
City Council: Steve Burkholder
Mike Stevens
Cheryl Wise
Bob Murphy
Jackie Herbst
Ray Elliott (arrived at 1:10 p.m.)
Debbie Koop
Tom Booher
Jean Saum
Barb Martin
Absent: Carol Kesselman
Staff in attendance: Mike Rock, City Manager
Roger Noonan, City Attorney
Stacie Oulton, Public Information Officer
ITEM 3 - PRESENTATION - BUDGET PROGRAMMATIC REVIEW
Councilman Stevens stated that the Audit Committee, which consists of Ray Elliott, Tom Booher, and himself, believed it was important to briefly present the Comprehensive Annual Financial Report. Wendy Swanhorst, CPA, partner of Swanhorst & Cutler, L.L.C., stated that the Opinion Letter from their firm states that the numbers are fairly stated. The Management Letter has to do with internal controls and material weaknesses, of which none were reported in their letter. Last year's letter stated some areas of concern which should be solved with the new computer system coming on line in 2004. Ms. Swanhorst stated there were not significant adjustments to the books to report and the financial statements are accurate.
A PowerPoint presentation was given.
Finance Director Jacque Wedding-Scott reviewed the Agenda with City Council
stating that it consisted of the following:
2002 Overview/Fund Balance
2002 TABOR Report
Mission of the Budget Process
Budget Process
Financial Assumptions
Recommended Reductions
Programmatic Review
Conclusions
City Manager Mike Rock presented an overview of the Budget and the General Fund Balance. He showed a slide showing annual municipal revenues per capita for sales tax of $316/Lakewood, $569/Region, and $545/State and property taxes per capita of $39/Lakewood, $64/Region, and $69/State. He stated that if Lakewood were to receive the average, the City's revenues would increase by $36 million. Lakewood continues to have a high standard of services and personnel. Mr. Rock stated City Council is the policy makers and staff's role is to implement their policies. He stated City Council has difficult decisions to make regarding the wants and needs of their constituents and the allocation of available dollars.
Mr. Rock stated that the budget is very conservative. There is a budgeted solid fund balance of over 10% at year-end 2004. City Council has asked for a minimum of 5%. He stated that due to savings in every department, the fund balance could easily double to 15%-20%.
Mr. Rock reviewed the Preliminary General Fund 2002-2004 Summary of Estimated Financial Sources and Uses as well as the 2002 Original and 2002 Revised Budget.
Mr. Rock stated that if the fund balance shows an increase in June 2004, he will recommend lifting the salary freeze for the last half of the year. He stated that no other City in the Metro Area is cutting wages or freezing salaries.
Jacque Wedding-Scott reviewed the 2002 TABOR Report, the Budget calendar, 2004 Budget Enhancements, and the financial assumptions made regarding the Budget.
Each Department Director or their representative reviewed their department's budget and pointed out any significant variances from the previous year. A question and answer period followed each presentation.
At the end of the presentations, Councilwoman Wise asked for a copy of the current salaries so she would be better prepared to make a recommendation regarding Mike Rock's request to lift the salary freeze mid-2004. Mr. Rock stated the salary information would be made available to all council members.
City Council disagreed with the reduction of a Code Enforcement position in Community Planning and Development and decided to keep the position for the 2003/2004 budget years.
City Council decided to have Looking at Lakewood published 6 times each year, which Joni Inman stated would include reinstating the graphic person back to a full time position.
City Council decided to not decrease their travel and education budget, stating it was too important for their personal and professional growth.
ITEM 4 - OPEN DISCUSSION -
None.
ITEM 5 - MAYOR AND CITY COUNCIL REPORTS -
None.
ITEM 6 - ADJOURNMENT -
Mayor Burkholder adjourned the meeting at 7:35 p.m.
Submitted by:
Margy Greer, City Clerk
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