Budget

Budget

Current Budget

2014 Operating Budget and Capital Improvement Program (413)

The 2014 Operating Budget and Capital Improvement Program will serve as the operation guide for fiscal year 2014 (January 1 – December 31).

Past Budgets

2013 Operating Budget and Capital Improvement Program (881)

The adopted 2013 Operating Budget and Capital Improvement Program implements a number of organization and design changes to improve its readability and understandability.  Its landscape presentation makes for easy reading on a widescreen monitor or portable device such as an iPad.

2012 Budget and Capital Improvement Program (1604)

The adopted 2012 Budget and Capital Improvement Program serves as the operation guide for fiscal year 2012.

Citizen’s Budget Guides

Citizen's Budget Guide: Election Edition (1816)

The Citizen’s Budget Guide: Election Edition was an information booklet that was prepared in advance of the income tax issue on the ballot for Loveland residents on November 6, 2013. This guide provided a breakdown of revenue losses, cuts that had been made by the City, and cuts that were planned in the event that revenues were not increased. Cuts planned for 2013 were implemented following the defeat of the income tax ballot proposal.

Citizen's Budget Guide (839)

Produced in 2011, the original Citizen’s Budget Guide was intended to help residents understand where their tax dollars go.  It also details the financial situation City of Loveland faced with revenue loses due to State budget cuts including the Local Government Fund (a once shared revenue source between municipalities and the State) and the Estate Tax. In the summer of 2011, the City held focus groups, attended by 45 randomly selected residents, to review our budget (using the Citizen’s Budget Guide) and make recommended cuts.

Budget Sustainability Focus Group

The City had been cutting costs for several years, and the 2012 Budget and CIP continued and built upon this process of reducing City expenditures.  Many of the group’s recommended cuts were included in the 2012 Budget, itemized below.

  • City health insurance costs were reduced in 2012 despite a 15% increase in insurance premiums. This was accomplished through eliminating health insurance for part-time employees (including City Council members), requiring spouses of employees who have access to affordable health insurance to take it from their own employers, and reducing (but not eliminating) investments in wellness.  Non-union employees paid 15% of their health insurance premiums in 2012 (instead of 11.5%), and all employees will pay 15% in 2013. Together, these changes in health insurance save $146,500 annually, and more as healthcare costs rise over time.
  • Additional changes to the City’s benefits—phasing out vacation and sick leave sellback for non-union employees and removing the top rung of the longevity ladder each year for all employees—reduce ongoing expenses by $26,000 in 2012, and will save an additional $5,000 per year as longevity pay is phased out over time.
  • The City’s discontinuation of its relationship with ICRC in 2012 generated a net savings of $38,000 because of the new contract costs with SIRE.  SIRE is a documentation management and workflow software program which is part of the solution City Council selected to continue to broadcast City Council meetings over the web.  The City is able to ensure transparency while still reducing expenditures substantially and the document management and workflow features of this software are an excellent investment in technology to improve staff productivity.
  • The 2012 Budget discontinued a number of programs or activities that together saved $47,000 annually starting in 2012.  This included ending the print version of the resident newsletter ($12,000), eliminating a neighborhood grant program ($3,000), discontinuing the Rhythm on the River Concert in the Park Series ($9,000), ending the City’s tuition reimbursement program ($13,000) and reducing organizational wide continuous improvement training ($10,000).

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