2011 Approved Budget - Laserfiche WebLink

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Many of the City's largest service inputs - such as fuel and energy related costs remain volatile and are outpacing general inflation. The City spends over $900,000 annually for fael and energy costs alone. And although these costs are below all time levels, the City recognizes the need to remain committed to reducing overall fael and energy consumption in 2011 and beyond. Also, M* an effort to attract and retain high-performing employees, the City makes great effort to ensure that the City's compensation and benefit package is commensurate with peer communities. The City has budgeted for a I % employee cost-of-living adjustment (COLA) in 2011. The 2010 Budget did no! contain any mom'es for COLA. The City"s asset replacement fimding mechanisms, while strong in some areas, do not have sufficient revenue streams to replace the City's vehicles, park system assets or city facilities at the optimal time. The City was limited 'in its ability to improve this simation in recent years; therefore additional emphasis in this area was provided for in 2011. This included the re-establishment of equipment replacement ftmiding, as well as continued funding for vehicles, street and utility infrastructure replacement, The City's cash reserves, while strong overall, are below target levels in a few of the City's key operating funds. Like the City's asset replacement mechanisms, additional emphasis on improving key reserve levels will be needed in 2011 and beyond, The 2011 Budget attempts to continue incorporating the goals and strategies that were identified in the LR2025 visioning process completed in 2007. This process resulted in the citizen recommendation of the following goals: During the past few years, the City has achieved some short term objectives outlined in the IR2025 [!-)rocess. In early 2011, the City Council is expected to develop an action plan to achieve stated longer- range goals. However, given current economic conditions future appropriations for IR2025 'initiatives will be especially challenging in 2011 and perhaps beyond. It does however, remain an important guideline for determining services and service levels. W