Sunday, August 7, 2011

Commerce City Revenue Estimate for 2012

Commerce City estimates the City General Fund revenues is $47,855,235 for 2012. That compares with the revenue budget of $43,109,740 for 2011. The $47,855,235 estimate is after moving $1,765,000 of  vulnerable revenues out of the General Fund to the CIPP Fund and replacing them with $2,516,806 of refuse collection fee revenue to cover the cost of refuse collection and the cost of the waste hauling company billing. The $1,765,000 is made up of $1,500,000 of highway users tax, $165,000 of motor vehicle registration and $100,000 of cigarette tax revenue from the state.

Currently, expenditures requests exceed the revenue estimates and executive management is working with Finance to reduce the requests. Staff is also working on the capital project requests.

More information on the economy and 2012 revenue projections will be presented at the August 8, 2011 meeting. There will also be an initial presentation regarding the proposed CIPP projects. Other presentations are scheduled as follows:
- August 15, 22 and 29, 2011 the City Manager will provide his recommendation and departments make their presentations.
- August 29, 2011 will include a preliminary Council discussion regarding the proposed budget and the CIPP projects.
- September 12, 2011 from 3:00 p.m. to 9:00 p.m. will be the Council's budget retreat.
- October 17, 2011 Council will open the public hearing on the 2012 budget.
- October 24, 2011 will be the Council's final action on the 2012 budgets for the City and GID.

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