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Finance director presents 2025 proposed budget; council focuses on reserves and staffing
Summary
Finance Director Mike Reina presented the city manager's proposed 2025 budget, highlighting a goal to maintain a 25% policy reserve, forecast assumptions, and cost drivers including proposed compensation increases and new FTEs. Council asked for further detail on communications, parks and road project timing.
Finance Director Mike Reina opened the study session portion of the Oct. 22 meeting with the city manager's proposed 2025 annual budget. He framed the presentation as a follow-up to an Aug. 6 study session and said the package is intended to align with the city's strategic plan. "Tonight's study session is to present and discuss the proposed 2025 annual budget in preparation for the budget adoption in December," Reina said.
Reina summarized audited 2023 results and explained why the general fund reserve dropped below the council's 25% policy level (timing of revenue recognition and some higher-than-expected expenditures). He walked through revenue composition (about 77% taxes in the general fund) and forecast assumptions (inflation from the Colorado legislative council, growth estimates from community development). On the expenditure side, staff flagged a 7% overall increase in the general fund driven by salary and benefit adjustments, higher health insurance costs and targeted additions such as a parks director and a half-time communications specialist.
Council asked for more detail on line-item drivers (election-year costs, council travel, communications output) and requested that staff supply the underlying detail and any documentation from prior outreach or consulting work before the December adoption. Staff said the budget will be refined and presented with more detail at follow-up meetings.
