2017 Budget

Mayor Suthers presents a balanced 2017 budget to City Council

Mayor John Suthers presented a balanced  2017 budget to City Council on October 3. The 2017 General Fund budget is $272.4 million, $5.7 million or 2.1% more than the 2016 budget.  The increase is largely due to a projected increase in sales and use tax revenue of 3.1% over the 2016 budget (and 3.2% over the current 2016 end-of-year forecast).

Attached is the transmittal letter accompanying the 2017 balanced budget presented to City Council and an overview of the budget development process. The complete proposed 2017 budget is available at: https://www.coloradosprings.gov/budget

2017 General Fund Highlights:

  • $577,000 increased funding to Mountain Metro Transit – increasing funding from $5.1 million to $5.7 million, which for the first time since the Great Recession, brings the City to the $5.7 million PPRTA transit maintenance of effort commitment made in 2004 when the PPRTA was created
  • $995,000 funding for 12.0 additional firefighting staff (plus operational dollars) to staff the City’s newest first station, Fire Station #22
  • $1 million increased funding for the stormwater control program to meet the IGA commitment with Pueblo; with a plan to increase that funding further in subsequent years
  • $3.2 million increased funding for employee pay increases:  to address a number of pay band/zone/sworn rank adjustments based upon a market review, a 2% adjustment for other sworn ranks, and a 2% pay for performance pool for civilian employees. 
  • $2.2 million increased funding for closed sworn police and fire pension plans to fund the annual required contribution as determined by actuarial reports

While the focus is on the City’s General Fund, it is important to acknowledge the City’s other funding sources available, most significantly special revenue funds which have specific designated uses.  Important special revenue funds include:  2C – Road tax fund, Public Safety Sales Tax (PSST) fund, Trails, Open Space and Parks (TOPS) fund, Conservation Trust Fund (CTF or Lottery Fund) for parks, and other federal, state and private grant funds.  These designated revenue sources are critically important to the City’s ability to provide core municipal services.

Upcoming Important Budget Dates:

Oct. 17 (all day) & Oct 18 (1-5p) – Budget presentations to City Council

Oct. 20 – Public input meeting (5-7:30p)

 

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