The City Council has adopted the City's 2011 budget, keeping a cautious approach to spending because the money coming in to pay the City’s bills remains unpredictable.
Sales tax revenues from goods purchased in Lakewood provide the largest share of income for the City to provide services to the residents such as police patrols, street and park maintenance, code enforcement and other items.
Important Budget Dates
Aug. 2: City Council Study Session
Presentation: Potential budget impacts of ballot measures Amendments 60 and 61 and Proposition 101
See agenda | Watch video | View Finance Director's PowerPoint presentation
Sept. 7: City Council Study Session
Presentation: 2010 Revised/2011 Proposed Budget
See agenda | Watch video
Sept. 20: City Council Study Session:
Presentation/Discussion with City's partner agencies (Jefferson County, Jefferson County Schools, West Metro Fire and The West Chamber) regarding potential budget impacts of ballot measures Amendments 60 and 61 and Proposition 101
See agenda | Watch video
Oct. 4: City Council Study Session
Presentations: Update on potential budget impacts of ballot measures Amendments 60 and 61 and Proposition 101
See agenda | Fiscal Analysis | Watch Video
Oct. 11: Regular City Council Meeting
First public hearing for the 2011 budget
See agenda | Watch video
Oct. 25: Regular City Council Meeting
Second public hearing on the 2010 Revised/2011 Budget and Council vote
See agenda | Watch video
The City Council’s meetings are aired live on KLTV8, the City’s government-access cable channel 8. They are also available for viewing on Lakewood.org, the City’s website, live or on-demand anytime after the live airing of the meeting.
Despite the uncertainty of the economic recovery, the proposed budget for 2011 would allow the City to maintain a reserve fund equal to 25 percent of the City’s operating funds, and those reserves essentially serve as the City’s savings account. State law requires cities to keep 3 percent in reserves, while the City Council’s policy is to have 10 percent in reserves. The proposed 2011 budget would exceed both requirements, keeping $23.5 million in reserves.
