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Castle Pines City parks budget projects about $5.6M in revenues; 12‑mill levy prioritizes operations
Summary
Finance Director Mike Beregan told the Parks and Recreation Advisory Board the consolidated 2026 parks fund will rely on a 12‑mill property levy and specific ownership tax to produce roughly $5.5–$5.6 million in revenues, with a $1.8M projected ending fund balance and a 25% operating reserve policy.
Finance Director Mike Beregan presented the citywide 2026 Parks and Recreation budget and five‑year forecast at the May 21 advisory board meeting, saying the adopted 2026 budget (approved by council in December 2025) consolidates parks revenues and expenditures following recent transfers from metro districts. "Every time we put together a budget, we don't just look at the current year because we gotta make sure what we're doing in the current year is stable for and what we're currently using is 5 years out," Beregan said during the presentation.
Beregan laid out revenue sources that support the parks and recreation fund: the 12‑mill property tax levy approved by voters in November 2023, the specific ownership tax (vehicle registration), park rental and program fees, plus interest earnings. He said the combined revenues for parks in the presentation add to roughly $5.5–$5.6 million for 2026. On expenditures, he reported major components include irrigation/water (~$932,000), parks maintenance (about $1.6M covering Elkridge, Coyote Ridge and pocket parks), open space (~$1.0M) and trails (~$600,000).
The budget includes capital spending for Coyote Ridge (approximately $3.2M in 2026) and uses a carryover from 2025 for that project. Beregan noted the city maintains a policy to hold reserves equal to 25% of operating expenditures; after factoring reserves he projected an ending fund balance near $1.8 million for 2026. He also told the board the council approved a budget amendment earlier in the year that adjusts the 2026 figures presented to the board.
City Manager Michael Penney and staff framed the 12‑mill levy as a consolidation step: metro districts agreed to reduce their levies by 12 mills so the city's levy produced no net tax increase to residents, and the city began collecting those revenues in January 2024. Penney cautioned that a 12‑mill levy is weighted toward operations and maintenance and said capital needs could require a higher levy if the city seeks expanded capital capacity.
The advisory board will continue to review budget details during the annual process and may provide recommendations to council as staff refines capital schedules and fund forecasts.
