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B IENNIAL B UDGET 2009/2010 City of Golden, Colorado

B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

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Page 1: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

BIENNIAL BUDGET2009/2010

City of Golden, Colorado

Page 2: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

2009 - 2010 CITY OF GOLDEN, COLORADO

BUDGETAND

CAPITAL PROGRAMS

2009 - 2010 Golden Downtown General Improvement District Budget

2009 Budget Adopted by Resolution of the Golden City Council on November 13, 2008

2008 GOLDEN CITY COUNCILJacob Smith, Mayor

Mary Weaver, Ward I Joe Behm, Ward II

Diane Chesbro, Ward III Bill Fisher, Ward IV

Marjorie Sloan, District I Karen Oxman, Mayor Pro-Tem, District II

Submitted by:Michael C. Bestor

City Manager

Page 3: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

2009-2010 CITY OF GOLDEN BIENNIAL BUDGET TABLE OF CONTENTS

INTRODUCTION

Budget Message ..................................................................................................................... 1 Budget Calendar.....................................................................................................................10 Citizens Budget Advisory Committee Message ....................................................................12 GFOA Distinguished Budget Presentation Award ................................................................14 2009-2010 Budget Summary Fund Type Descriptions .........................................................15 2009 Budget Summary Revenue and Expenditure Chart of all Funds ..................................18 2010 Budget Summary Revenue and Expenditure Chart of all Funds ..................................19 2009 Budget Summary – By Fund Type .............................................................................20 2010 Budget Summary – By Fund Type .............................................................................21 Fund Balance Detail Governmental Funds ............................................................................22 Fund Cash Balance Detail Proprietary Funds........................................................................23 2009 Budget Summary – All Funds ......................................................................................24 City of Golden Debt Service Requirements .........................................................................................25 Organizational Chart ...................................................................................................................................26 City of Golden Staffing Chart ..................................................................................................................27

REVENUE MANUAL

Property Tax Revenue............................................................................................................29 Sales Tax Revenue.................................................................................................................32 Use Tax Revenue ...................................................................................................................33 Building Use Tax Revenue ....................................................................................................34 Sales and Use Tax Audit Revenue.........................................................................................35 Vendor Discount Revenues....................................................................................................36 Auto Ownership Tax Revenue...............................................................................................37 Cable Franchise Fee ..............................................................................................................38 Xcel Energy Franchise Fee ....................................................................................................39 Building Permit Revenue....................................................................................................... 40 Fire Contract Fee Revenue.....................................................................................................41 Campground Revenue............................................................................................................42 Recreation Fees/Field Rental Revenue ..................................................................................43 Administrative Service Fee Revenue.....................................................................................44 Plan Check Fee ......................................................................................................................45 Cigarette Tax Revenue...........................................................................................................46 County Road and Bridge Revenue.........................................................................................47 Court Fines and Fees Revenue...............................................................................................48 Gaming Grant Revenue.......................................................................................................... 49 Investment Income.................................................................................................................50 Water Sales Revenue .............................................................................................................51 Coors Water Sales Revenue...................................................................................................52 Water Development Fee Revenue .........................................................................................53 Wastewater Sales Revenue .................................................................................................... 54 Wastewater Development Fee Revenue ................................................................................55 Drainage Utility Fee Revenue................................................................................................56

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Cemetery Operating Revenue ................................................................................................57 The Splash Aquatic Park Revenues ....................................................................................... 58 Community Center Admission Revenue ............................................................................... 59 Community Center Program Fees..........................................................................................60 Fossil Trace Golf Course Green Fees .................................................................................... 61 Fossil Trace Golf Course Cart Rental Fees............................................................................ 62 Fossil Trace Golf Course Driving Range............................................................................... 63 Fossil Trace Golf Course Merchandise Sales ........................................................................ 64 Highway User Tax Revenue ..................................................................................................65 Jefferson County Open Space Sales Tax Shared Revenue ....................................................66 Lottery Revenue.....................................................................................................................67

GENERAL FUND

2009 General Fund Revenues/Expenditures Charts ..............................................................70 2010 General Fund Revenues/Expenditures Charts ..............................................................71 Comparative Budget Changes by Program ...........................................................................72 Comparative Budget Changes by Department ....................................................................................73 General Fund Revenues ............................................................................................................................74 City Council...................................................................................................................................................76 City Attorney.................................................................................................................................................78 Municipal Judge ...........................................................................................................................................79 City Manager’s Office ................................................................................................................................80 GURA Director’s Office............................................................................................................................82 Communications Office ......................................................................................................... 84 City Clerk’s Office ......................................................................................................................................88 Human Resources Department.................................................................................................................90 Finance and Administrative Services Department................................................................. 94 Municipal Court............................................................................................................................................98 Planning and Development Department............................................................................................. 102

Economic Development ............................................................................................................... 104 Community Marketing................................................................................................106 Museums........................................................................................................................................... 108

Public Works Department....................................................................................................................... 110 Streets Division........................................................................................................... 114 Highway Corridor Project Streets.............................................................................................. 117

Police Administration and Support Services..................................................................................... 120 Police Operations Division..................................................................................................................... 124 Fire Department......................................................................................................................................... 128 Parks and Recreation Administration ..................................................................................132

Outdoor Recreation Division ...................................................................................................... 134 Parks Division.............................................................................................................138 Forestry Division ............................................................................................................................ 142 Clear Creek RV Park..................................................................................................................... 146 Municipal Facilities Division...................................................................................................... 150

Other General Fund Divisions............................................................................................................... 154

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MANAGERIAL ENTERPRISE FUNDS

Community Center Fund Comparative Budget Changes ................................................................................................... 157 Community Center Fund ............................................................................................158

The Splash Aquatic Park Fund Comparative Budget Changes ....................................................................................161 The Splash Aquatic Park Fund .................................................................................162

Cemetery Operations Fund

Comparative Budget Changes .................................................................................................... 165 Cemetery Operations Fund ......................................................................................................... 166

Fossil Trace Golf Club Operations Fund Comparative Budget Changes .................................................................................................... 169 Fossil Trace Golf Club Operations .......................................................................................... 170

Rooney Road Sports Complex Fund Comparative Budget Changes .................................................................................................... 175 Rooney Road Sports Complex .................................................................................................. 176

UTILITY FUNDS Water Fund Comparative Budget Changes ....................................................................................... 179 Wastewater Fund Comparative Budget Changes ............................................................................ 181 Utilities Division..................................................................................................................183 Water Treatment Division ...................................................................................................186 Environmental Services Division ........................................................................................................ 188 Water Fund.................................................................................................................................................. 191 Wastewater Fund .................................................................................................................192 Drainage Utility Fund Comparative Budget Changes .........................................................194 Drainage Utility Fund .......................................................................................................... 195

CAPITAL IMPROVEMENT PLAN FUNDS

10-Year Capital Improvement Plan ..................................................................................................... 197 Capital Improvement Plan Summary .................................................................................................. 212 Capital Programs Fund ............................................................................................................................ 213 Sales and Use Tax Capital Improvements Fund .............................................................................. 214 Open Space Fund ...................................................................................................................................... 217 Water Fund Capital Programs ............................................................................................................... 218 Wastewater Fund Capital Programs .................................................................................... 219 Drainage Utility Fund Capital Programs ............................................................................220 Conservation Trust Special Revenue Fund Capital Programs (Lottery) ............................. 221 Golden Capital Leasing Corporation (GCLC).....................................................................222

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INTERNAL SERVICE FUNDS

Fleet Management Comparative Budget Changes .................................................................................................... 223 Fleet Management Division........................................................................................224

Information Technology

Comparative Budget Changes .................................................................................................... 228 Information Technology Division ............................................................................................. 229

Other Internal Service Funds

Description ....................................................................................................................................... 233 Insurance Fund – Comparative Budget Changes........................................................234 Medical Benefit Fund - Comparative Budget Changes ..............................................235 Workers’ Compensation and Unemployment Insurance Fund - Comparative

Budget Changes .................................................................................................... 236 OTHER FUNDS

Other Funds...................................................................................................................................... 239 Golden Downtown General Improvement District (GDGID) Fund - Comparative

Budget Changes...................................................................................................... 240 Cemetery Perpetual Care Fund - Comparative Budget Changes...................................... 241 Golden Capital Leasing Corporation (GCLC) ....................................................................... 242

APPENDIX A Operating Indicator Statistics (Unaudited)................................................................................................... 243 Capital Asset Statistics (Unaudited)............................................................................................................... 244 Principal Taxpayer Statistics (Unaudited) .................................................................................................... 245 Miscellaneous Statistics (Unaudited)............................................................................................................. 246 Map ...............................................................................................................................................247 About Golden................................................................................................................................248 Golden’s Water Treatment Plant .................................................................................................. 249 Glossary .................................................................................................................................................................. 250 Resolution No. 1924 Adopting the 2009 Budget..........................................................................256 Resolution No. 1925 Setting the 2009 Property Tax Mill Levy ...................................................258 Resolution No. 08-1 Appropriating the 2009 GDGID Budget .....................................................259 Resolution No. 08-2 Setting the 2009 GDGID Property Tax Mill Levy...................................... 260 Resolution No. 1606 Long-Range Budget Policies ......................................................................261 Resolution No. 734 Strategic Thinking and Leadership...............................................................270 Resolution No. 1597 Debt Management Policy ...........................................................................273 APPENDIX B Financial Trend Monitoring System............................................................................................................... 280

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BU

DG

ET MESSA

GE

BUDGET MESSAGE

Page 9: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 1 City of Golden

2009/2010 Biennial Budget

911 10TH ST. GOLDEN, CO 80401TEL: 303-384-8000FAX: 303-384-8001WWW.CITYOFGOLDEN.NET

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Page 2 City of Golden 2009/2010 Biennial Budget

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Page 3 City of Golden

2009/2010 Biennial Budget

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Page 4 City of Golden 2009/2010 Biennial Budget

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Page 5 City of Golden

2009/2010 Biennial Budget

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Page 6 City of Golden 2009/2010 Biennial Budget

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Page 7 City of Golden

2009/2010 Biennial Budget

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Page 8 City of Golden 2009/2010 Biennial Budget

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Page 9 City of Golden

2009/2010 Biennial Budget

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Page 10 City of Golden 2009/2010 Biennial Budget

City of Golden

2009-2010 Biennial Budget Calendar

Date Action

March 19, 2008 CBAC (Citizens Budget Advisory Committee) 2007 year-end financial overview

April 16, 2008 CBAC review of 1st Quarter Report, Municipal Finance 101

May 21, 2008 CBAC review of 2008 budget amendment

June 20086/03 Initial 10 Year CIP Meeting with Department Heads 6/25 CBAC 10 Year CIP Discussion

July 2008 7/11 Distribute Budget Templates to Departments 7/16 CBAC review of FTMS (Financial Trends Monitoring System); 2nd quarter

Financials; 2007 CAFR 7/22 Revenue Projections Completed – Review with Management Team 7/24 Distribute Updated 10 Year CIP Schedules and Revenue Projections to

Department Heads

August 2008 8/05 Meeting with Department Heads to review 10 Year CIP and Revenue

Projections 8/14 Budget requests due to Finance 8/19 Copies of new requests to Management Team 8/20 CBAC 2009 Budget discussionWeek of 8/25 Initial Meeting with Department Heads to review budget requests with

Finance Director 8/26 At Management Team - review new requests with Department Heads 8/28 Proposed Rate and Fee Changes to Finance 8/28 Distribute 2009 CIP to Council

September 2008 9/09 Follow-up Meeting with Department Heads to review budget requests with

City Manager, Salary survey review with Management Team 9/17 CBAC review of 2009 CIP, Proposed Rate and Fee Changes 9/18 Council Study Session review of 2009 CIP, Review of Proposed Rate and Fee

Changes9/25 Public hearing on 2009 CIP, Public Hearing on Rate and Fee Changes

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Page 11 City of Golden

2009/2010 Biennial Budget

10/15 CBAC review of 2009 revenue projections, draft 2009-2010 Budget; review of 3rd quarter financials

10/16 Council Study Session review of 2009-2010 Budget 10/23 Public hearing on 2009-2010 Budget and CIP

November, 2008 11/06 Council Study Session review of 2009-2010 Budget 11/12 CBAC review of 2009-2010 Budget recommendations from Council and Public

hearings, CBAC final recommendations on Budget 11/13 Public Hearing on 2009-2010 Budget and CIP, City Council Adopts 2009

Budget and CIP, City Council Sets Mill Levy for 2009

December, 2008 12/29 2009-2010 Budget ready for distribution

October, 2008 10/09 Adoption of Rate & Fee Changes for 2009

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Page 12 City of Golden 2009/2010 Biennial Budget

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Page 13 City of Golden

2009/2010 Biennial Budget

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Page 14 City of Golden 2009/2010 Biennial Budget

GFOA Distinguished Budget Award

The Government Finance Officers Association of the United States and Canada (GFOA) presented a Distinguished Budget Presentation Award to the City of Golden for its biennial budget for the biennium beginning January 1, 2007. In order to receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communications device. This award is valid for a period of two years only. We believe our current budget continues to conform to program requirements, and we are submitting it to GFOA to determine its eligibility for another award.

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Page 15 City of Golden

2009/2010 Biennial Budget

SECTION OVERVIEW

This section of the 2007 2008 budget document provides an overview of the revenues andexpenditures in the City’s primary funds. In addition, this section provides a definition andexplanation of the fund types used by the City, and an explanation of the budgeting andaccounting basis for presentation of revenues and expenditures by fund.

BASIS OF PRESENTATION, BUDGETING AND ACCOUNTING

Basis of Presentation – Fund Accounting

The activities of the City are organized into separate funds that are designated for a specificpurpose or set of purposes. Each fund is considered a separate accounting entity, so theoperations of each fund are accounted for with a set of self balancing accounts that comprise itsrevenues, expenses, assets, liabilities, and fund equity as appropriate.

The number and variety of funds used by the City promotes accountability but can also makemunicipal budgeting and finance complex. Therefore, understanding the fund structure is animportant part of understanding the City’s finances. The three basic fund categories areGovernmental Funds, Proprietary Funds and Fiduciary Funds; within each fund category thereare various fund types. Following is a description of the six fund types that contain the City’svarious funds.

Governmental Funds

General Fund

The General Fund is the City’s primary operating fund and is used to track the revenues andexpenditures associated with the basic City services that are not required to be accounted for inother funds. This includes services such as police, public works, parks and recreation, and othersupport services such as human resources. These services are funded by general purpose taxrevenues and other revenues that are unrestricted. This means that the City Council, with inputfrom the public, has the ability to distribute the funds in a way that best meets the needs of thecommunity as opposed to other funds that are restricted to predefined uses.

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Page 16 City of Golden 2009/2010 Biennial Budget

Special Revenue Funds

Special Revenue funds account for activities supported by revenues that are received or set asidefor a specific purpose that are legally restricted. The City has three Special Revenue funds;Conservation Trust Fund, Golden Downtown General Improvement District (GDGID), andGolden Capital Leasing Corporation (GCLC).

Capital Projects Funds

Capital Projects funds account for financial resources that are primarily used for the acquisition,improvements or construction of major capital projects. The City has three Capital Projectsfunds; Sales and Use Tax Capital Improvement Fund (SUT Capital Fund), Capital ProgramsFunds, and Open Space Fund. The 10 year capital improvements plan lists approved andanticipated capital projects of the City, and can be located in the capital improvement plansection of the budget document.

Proprietary Funds

Enterprise Funds

Enterprise funds account for operations that are financed and operated in a manner similar toprivate business, where the intent of the City is that the fund will be self supporting. Thisrequires that the expense of providing goods and services to the general public on a continuingbasis be financed or recovered primarily through user charges. In the event that these usercharges are insufficient to cover the operations of the Enterprise fund, transfers can be made fromother fund types to provide additional support. The City’s Enterprise funds consist of UtilityFunds (Water, Wastewater and Drainage), Splash Aquatic Park Fund, Fossil Trace Golf CourseFund, Community Center Fund, Cemetery Operations Fund and Rooney Road Sports ComplexFund.

Internal Service Funds

Internal Service funds account for the financing of goods and services provided primarily by oneCity department to other City departments or agencies, or to other governments, on a costreimbursement basis. The City’s Internal Service funds consist of the Fleet Management Fund,Information Technology Fund, Insurance Fund, Medical Benefit Fund and Workers’Compensation Fund.

Capital Projects funds account for financial resources that are primarily used for the acquisition,

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Page 17 City of Golden

2009/2010 Biennial Budget

Fiduciary Funds (Trust and Agency Funds)

Trust Funds

Trust and Agency funds account for resources that the City does not have the authority to spendon its own because the City is holding assets of these funds in a trustee capacity or as an agent foranother organizational unit. The City has one Trust fund which is the Cemetery Perpetual CareFund.

Basis of Budgeting

Basis of budgeting refers to the methodology used to include revenues and expenditures in thebudget. The City of Golden primarily budgets on a cash basis. The revenues and expendituresare assumed to be collected or spent during the period appropriated. Using this assumption, thecurrent year revenues are compared to expenditures to ensure that each fund has sufficientrevenues to cover expenditures during the budget year, or that there are sufficient cash reservesin the fund to cover a revenue shortfall.

Basis of Accounting

Basis of accounting refers to the point at which revenues or expenditures are recognized in theaccounts and reported in the financial statements. The government wide financial statements, aswell as the financial statements for proprietary funds and fiduciary funds, are reported using theeconomic resource measurement focus and the accrual basis of accounting. Under accrual basisof accounting, revenues are recorded when earned and expenses are recorded when a liability isincurred, regardless of when the cash is received.

Governmental fund financial statements are reported using current financial resourcesmeasurement focus and the modified accrual basis of accounting. Under modified accrual basisof accounting, revenues are recognized as soon as they become both measurable and available,and expenditures are recorded in the period that the expenditure occurs and becomes a liability.

Basis of Budgeting vs. Basis of Accounting

The basis of budgeting differs from the basis of accounting only by the assumptions that aremade in regards to the timing of the recognition of revenues and expenditures. The budgetassumes that all revenues and expenditures, as well as, the associated cash, will be expended orreceived during the budget period. Conversely, the basis of accounting only recognizes revenueswhen they become both measurable and available, and expenditures when incurred. Cash is notnecessarily received or expended at the same time.

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Page 18 City of Golden 2009/2010 Biennial Budget

CITY OF GOLDEN 2009 BUDGET

General Property Tax8%

Sales and Use Tax29%

Interfund Transfers5%

Charges for Service39%

Miscellaneous Other15%

Intergovernmental4%

Where it comes from…revenues (all funds):

Charges for Service includes(amounts stated in thousands): $1,841 General Fund $7,464 Water/Wastewater/Drainage $1,390 Community Center $ 325 Cemetery $ 384 Splash Aquatic Park $3,203 Fossil Trace Golf Course $ 79 Sports Complex $5,576 Internal Service $ 48 Cemetery Perpetual Care

Parks and Recreation15%

Misc Other/Interfund6%General Government

23%

Debt Service12%

Public Works29%

Public Safety15%

Where it goes…expenditures (all funds):

Public Works includes(amounts stated in thousands): $ 3,609 General Fund $ 6,807 Water Fund $ 2,135 Wastewater Fund $ 327 Drainage Utility Fund $ 3,450 Capital Project Funds

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Page 19 City of Golden

2009/2010 Biennial Budget

CITY OF GOLDEN 2010 BUDGET

General Property Tax9%

Sales and Use Tax30%

Interfund Transfers5%

Charges for Service40%

Miscellaneous Other12%

Intergovernmental4%

Where it comes from…revenues (all funds):

Charges for Service includes(amounts stated in thousands): $1,883 General Fund $7,823 Water/Wastewater/Drainage $1,461 Community Center $ 331 Cemetery $ 387 Splash Aquatic Park $3,385 Fossil Trace Golf Course $ 81 Sports Complex $6,045 Internal Service $ 49 Cemetery Perpetual Care

Parks and Recreation15%

Misc Other/Interfund6%General Government

23%

Debt Service9%

Public Works31%

Public Safety16%

Where it goes…expenditures (all funds):

Public Works includes(amounts stated in thousands): $ 3,799 General Fund $ 6,709 Water Fund $ 2,100 Wastewater Fund $ 505 Drainage Utility Fund $ 3,040 Capital Project Funds

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Page 20 City of Golden 2009/2010 Biennial Budget

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Tot

al E

x pen

ditu

res a

nd O

ther

Use

s21

,542

,364

17,4

40,2

6411

,567

,367

6,05

1,44

537

0,85

015

,000

56,9

87,2

90

Acc

umul

atio

n (U

se) o

f Con

tinge

ncy

(718

,957

)(1

,852

,681

)(6

04,2

09)

100,

096

(152

,675

)91

,000

(3,1

37,4

26)

Proj

ecte

d E

ndin

g C

ontin

genc

y$5

,278

,673

$3,2

75,2

42$2

,133

,133

$2,2

72,9

18$9

2,65

6$1

,592

,376

$14,

644,

998

Page 29: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 21 City of Golden

2009/2010 Biennial Budget

Page 30: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 22 City of Golden 2009/2010 Biennial Budget

City

ofGolde

n2009

2010

BiennialBu

dget

FUNDBA

LANCEPR

OJECTION

ALL

GOVER

NMEN

TALFU

NDS

Fund

FundBalance

12/31/2007

Projected

2008

Revenue

Projected

2008

Expenditure

Projected

FundBalance

12/31/2008

Budget

2009

Revenue

Budget

2009

Expenditure

Projected

FundBalance

12/31/2009

Budget

2010

Revenue

Budget

2010

Expenditure

Projected

FundBalance

12/31/2010

OPERATINGFUND

GeneralFu

nd5,585,200

20,151,913

19,739,484

5,997,630

20,823,407

21,542,364

5,278,673

21,343,097

22,164,463

4,457,307

SPECIALREVENUEFUNDS

Con

servationTrustF

und

363,473

237,750

363,100

238,123

184,925

341,100

81,948

183,925

185,000

80,873

Golde

nDow

ntow

nGeneralIm

prov

ement

DistrictF

und(G

DGID

)71,283

35,685

99,760

7,208

33,250

29,750

10,708

40,900

25,850

25,758

Golde

nCap

italL

easing

Corpo

ratio

nFu

nd(G

CLC

)1,286,560

20,000

1,306,560

CAPITALPROJECTFUNDS

Salesan

dUse

TaxCap

italImprov

ementF

und*

3,843,562

8,413,500

11,384,766

872,296

9,382,808

9,532,367

2,101,882

6,754,962

6,217,412

2,639,432

Cap

italP

rogram

sFu

nd118,046

652,254

770,300

950,000

950,000

875,000

875,000

Ope

nSp

aceFu

nd549,976

886,025

950,100

485,901

630,350

1,085,000

31,251

477,250

435,000

73,501

PERMANENTFUND

Cem

eteryPe

rpetua

lCareFu

nd1,408,466

107,910

15,000

1,501,376

106,000

15,000

1,592,376

120,500

15,000

1,697,876

*Include

sad

justmentin12/31/2009

ProjectedFu

ndBa

lanceforinterfund

loan

paym

ent

Page 31: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 23 City of Golden

2009/2010 Biennial Budget

City

ofGolde

n2009

2010

BiennialBu

dget

FUNDCASH

PROJECTION

ALL

PROPR

IETA

RYFU

NDS

Fund

Cash

12/31/2007

Projected

2008

CashIn

Projected

2008

Expense

Projected

Cash

12/31/2008

Budget

2009

CashIn

Budget

2009

Expense

Projected

Cash

12/31/2009

Budget

2010

CashIn

Budget

2010

Expense

Projected

Cash

12/31/2010

ENTERPRISEFUNDS

Water

Fund

1,895,915

7,769,840

7,151,296

2,514,459

6,673,650

8,316,199

871,910

7,384,100

8,233,701

22,309

Wastewater

Fund

3,321,262

1,694,380

2,715,640

2,300,002

1,761,700

2,134,887

1,926,815

1,833,429

2,099,758

1,660,486

DrainageFu

nd(507,375)

798,300

771,828

(480,903)

886,900

734,443

(328,446)

895,780

911,468

(344,134)

Com

mun

ityCenterF

und

(12,810)

2,002,500

1,937,852

51,838

2,018,200

2,027,814

42,224

2,100,278

2,091,352

51,150

Cem

eteryOpe

ratio

nsFu

nd108,788

395,750

393,370

111,168

400,800

404,328

107,640

407,900

417,804

97,736

Splash

Aqu

aticPa

rkFu

nd56,084

356,600

383,153

29,531

420,200

428,317

21,414

433,250

447,352

7,312

FossilTraceGolfC

ourseFu

nd177,559

3,312,500

3,216,033

274,026

3,288,928

3,335,416

227,538

3,481,746

3,420,026

289,258

Roon

eyRo

adSp

ortsCom

plex

Fund

317,082

95,800

85,080

327,802

137,205

58,860

406,147

143,950

60,390

489,707

INTERNALSERVICEFUND

FleetM

anagem

entF

und

522,230

1,410,900

1,390,226

542,904

1,479,750

1,543,325

479,329

1,611,809

1,728,026

363,112

Inform

ationTe

chno

logy

Fund

306,982

1,310,605

1,341,410

276,177

1,388,104

1,584,800

79,481

1,437,512

1,345,087

171,906

InsuranceFu

nd563,671

528,300

498,500

593,471

533,300

486,650

640,121

533,300

499,530

673,891

Med

icalBe

nefitsFu

nd965,292

1,609,100

2,267,300

307,092

2,378,464

2,089,600

595,956

2,356,157

2,293,545

658,568

Workers

Com

pFu

nd527,813

334,275

408,910

453,178

371,923

347,070

478,031

387,888

354,510

511,409

Page 32: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 24 City of Golden 2009/2010 Biennial Budget

BUDGET SUMMARY - ALL FUNDSFor The Years Ended December 31, 2006 - 2010

Actual2006

Actual2007

Projected2008

Proposed2009

Planned2010

FUNDING SOURCES:

General Property Tax 3,729,256 3,759,080 4,122,000 4,531,800 4,713,100 Sales and Use Tax 14,267,092 15,348,016 14,530,620 15,631,059 16,010,586 Other Taxes 1,332,356 1,357,159 1,365,885 1,413,180 1,436,033 Licenses and Permits 444,613 399,506 470,000 403,500 473,500 Charges for Service 18,701,081 18,345,124 20,871,875 20,310,405 21,445,890 Intergovernmental 2,317,184 2,050,555 2,406,625 2,596,743 1,952,163 Fines and Forfeitures 548,197 417,382 546,100 507,295 512,338 Interest 1,380,186 1,459,062 901,980 627,338 786,738 Miscellaneous 2,441,036 5,068,797 1,286,495 2,627,549 3,047,466 Interfund Transfers 1,830,312 2,542,337 3,987,874 2,926,740 2,424,919 Bond Proceeds 20,242,349 - - - - Land Sale Proceeds - - - 2,274,255 -

Total Revenues and Other Funding Sources

67,233,662 50,747,018 50,489,454 53,849,864 52,802,733

General Government (a) 18,795,823 14,556,125 11,462,600 11,594,063 11,067,803Public Safety 7,204,147 9,375,868 8,880,250 8,503,740 8,875,434Public Works 16,740,637 14,773,287 17,762,193 15,883,592 15,302,785Parks and Recreation 10,204,446 10,582,113 9,099,635 9,556,077 8,527,363Planning and Economic Development 1,419,276 1,532,419 1,316,575 1,708,113 1,953,448Interfund Transfers 2,893,608 4,408,232 2,368,450 2,287,200 2,031,200Other Expenditures 446,316 691,474 583,000 813,200 979,699Debt Service 3,804,403 4,186,152 4,778,606 6,641,305 5,082,542

Total Expenditures and Other Uses 61,508,656 60,105,670 56,251,309 56,987,290 53,820,274

(a) General Government includes General Fund administration and Internal Service Funds.

Page 33: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 25 City of Golden

2009/2010 Biennial Budget

CIT

Y O

F G

OL

DE

N 2

009-

2010

DE

BT

SE

RV

ICE

RE

QU

IRE

ME

NT

S

Ori

gina

lPr

inci

pal

Am

ount

Inte

rest

Rat

e

Prin

cipa

lA

mou

ntO

utst

andi

ng12

-31-

08

Rem

aini

ngIn

tere

st to

be

Paid

to M

atur

ity

Tot

al D

ebt

Serv

ice

Req

uire

men

tsR

emai

ning

Yea

r D

ebt

Serv

ice

Paid

O

ff

2008

Bud

gete

d D

ebt S

ervi

ce

Paym

ents

2009

Bud

gete

d D

ebt S

ervi

ce

Paym

ents

2010

Bud

gete

d D

ebt S

ervi

ce

Paym

ents

Gen

eral

Obl

igat

ion

Bon

dsPa

yabl

e fr

om w

ater

reve

nues

/Wat

er F

und

G.O

. Wat

er B

onds

, Ser

ies 1

993

6,41

0,00

0$

2.85

% -

5%44

5,00

0$

22,2

50$

46

7,25

0$

2009

468,

500

$

467,

250

$

-

$

Subt

otal

: G

ener

al O

blig

atio

n B

onds

6,41

0,00

0

445,

000

22

,250

467,

250

46

8,50

0

46

7,25

0

-

Rev

enue

Bon

dsPa

yabl

e fr

om W

ater

Fun

d, S

ales

and

Use

Tax

Cap

ital I

mpr

ovem

ent F

und,

and

the

Dra

inag

e U

tility

Fun

d re

spec

tivel

y.

Wat

er R

even

ue B

onds

, Ser

ies 2

002

A &

B5,

015,

000

7.

05%

- 7.

2%4,

675,

000

1,56

4,00

8

6,

239,

008

2022

256,

088

244,

788

72

3,73

8

Wat

er R

even

ue B

onds

, Ser

ies 2

006

A &

B5,

790,

000

4%

- 4.

5%5,

140,

000

2,02

1,45

7

7,

811,

457

2025

497,

922

497,

122

50

0,92

2

Sale

s & U

se T

ax R

even

ue B

onds

, Ser

ies 2

001

B21

,620

,000

4%

- 5.

1%17

,495

,000

6,

337,

671

23,8

32,6

71

20

202,

010,

996

1,

994,

696

2,00

3,59

6

Sale

s & U

se T

ax R

even

ue B

onds

, Ser

ies 2

001

C4,

800,

000

4%

- 5%

3,76

5,00

0

1,

326,

660

5,09

1,66

0

20

2039

8,05

5

41

4,03

5

408,

915

Dra

inag

e U

tility

Ent

erpr

ise

Rev

enue

Bon

ds, S

erie

s 199

9 4,

260,

000

3.

75%

- 5.

4%2,

710,

000

849,

413

3,

559,

413

2018

356,

813

356,

768

35

6,16

5

Subt

otal

: R

even

ue B

onds

41,4

85,0

00

33,7

85,0

00

12,0

99,2

09

46

,534

,209

3,51

9,87

4

3,50

7,40

9

3,

993,

336

Cer

tific

ates

of P

artic

ipat

ion

Paya

ble

from

Sal

es a

nd U

se T

ax C

apita

l Im

prov

men

t Fun

d

CO

P, S

erie

s 200

614

,360

,000

$

4%

- 4.

5%13

,395

,000

$

6,

253,

288

$

20,6

13,2

88$

20

261,

089,

246

$

1,

089,

646

$

1,08

9,24

6$

Subt

otal

: G

ener

al O

blig

atio

n B

onds

14,3

60,0

00

13,3

95,0

00

6,25

3,28

8

20

,613

,288

1,08

9,24

6

1,08

9,64

6

1,

089,

246

GR

AN

D T

OTA

L62

,255

,000

$

47

,625

,000

$

18

,374

,747

$

67,6

14,7

47$

5,

077,

620

$

5,

064,

305

$

5,08

2,58

2$

In 1

993,

the

City

refu

nded

a p

ortio

n of

its 1

989

serie

s gen

eral

obl

igat

ion

wat

er b

onds

and

all

of it

s 199

0A se

ries g

ener

al o

blig

atio

n w

ater

bon

ds.

The

$6,4

10,0

00 1

993

serie

s gen

eral

obl

igat

ion

wat

er b

ond

issu

e w

ith a

n ef

fect

ive

inte

rest

rate

of 4

.68%

pro

vide

d re

sour

ces t

o pu

rcha

se U

.S. G

over

nmen

t and

stat

e an

d lo

cal g

over

nmen

t sec

uriti

es th

at w

ere

plac

ed in

an

irrev

ocab

le tr

ust f

or th

e pu

rpos

e of

gen

erat

ing

reso

urce

s for

all

futu

re d

ebt

serv

ice

paym

ents

of t

he re

fund

ed d

ebt.

In 1

999,

the

City

issu

ed re

venu

e bo

nds f

or th

e D

rain

age

Util

ity fo

r maj

or c

apita

l im

prov

emen

ts.

In 2

001,

the

City

refu

nded

the

Sale

s and

Use

Tax

Rev

enue

Bon

ds, S

erie

s 199

2 bo

nds.

The

$1,

870,

000

Serie

s 200

1A sa

les a

nd u

se ta

x re

venu

e bo

nds p

rovi

ded

reso

urce

s to

fund

an

escr

ow w

ith W

ells

Far

go B

ank

Wes

t, N

.A.

for t

he p

urpo

ses o

f gen

erat

ing

reso

urce

s for

all

futu

re d

ebt s

ervi

ce p

aym

ents

of t

he re

fund

ed d

ebt.

As a

resu

lt, th

e Se

ries 1

992

bond

s ar

e co

nsid

ered

to b

e de

feas

ed.

Als

o in

200

1 th

e C

ity is

sued

sale

s and

use

tax

reve

nue

bond

s Ser

ies 2

001B

and

200

1C fo

r the

pur

pose

s of f

inan

cing

in w

hole

or i

n pa

rt a

prog

ram

of p

ublic

impr

ovem

ents

incl

udin

g th

e de

velo

pmen

t and

con

stru

ctio

n of

a g

olf

cour

se a

nd c

lub

hous

e, a

fam

ily a

quat

ic p

ark,

oth

er re

crea

tiona

l fac

ilitie

s, an

d th

e ac

quis

ition

of o

pen

spac

e.

In 2

002,

the

City

refu

nded

gen

eral

obl

igat

ion

Wat

er B

onds

Ser

ies 1

989

and

issu

ed n

ew W

ater

Rev

enue

Bon

ds S

erie

s 200

2 A

&B

to re

finan

ce a

t a lo

wer

inte

rest

rate

and

for t

he p

urpo

ses o

f fin

anci

ng a

dditi

ons a

nd

impr

ovem

ents

to th

e w

ater

syst

em.

As a

resu

lt, th

e Se

ries 1

989

GO

Wat

er B

onds

are

con

side

red

to b

e de

feas

ed.

In 2

006,

the

City

issu

ed $

14.3

6 m

illio

n in

cer

tific

ates

of p

artic

ipat

ion

for t

he c

ompl

etio

n of

the

mun

icip

al sh

ops f

acili

ties a

nd F

ire S

tatio

n N

o. 1

. Th

e C

ity a

lso

issu

ed $

5.79

mill

ion

in w

ater

reve

nue

bond

s; th

e $1

,095

,00

Serie

s 20

06A

bon

ds a

re fo

r the

pur

pose

of r

efun

ding

, pay

ing

and

disc

harg

ing

the

rem

aini

ng p

aym

ents

of p

rinci

pal u

nder

an

outs

tand

ing

leas

e-pu

rcha

se a

gree

men

t ent

ered

into

to fi

nanc

e th

e ac

quis

ition

of w

ater

righ

ts o

f the

Vid

ler

Tunn

el p

urch

ase.

The

$4,

695,

000

Serie

s 200

6B b

onds

are

for t

he p

urpo

se o

f fin

anci

ng a

dditi

ons a

nd im

prov

emen

ts to

the

wat

er sy

stem

ope

rate

d by

the

Util

ity E

nter

pris

e.

DEB

T PO

LIC

Y:

The

City

's D

ebt P

olic

y m

ay b

e fo

und

on p

age

252.

Page 34: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 26 City of Golden 2009/2010 Biennial Budget

Citizens ofGolden

City Council

City Manager

Boards and Commissions:Citizens Budget Advisory CommitteeEconomic Development CommissionGolden Urban Renewal AuthorityHistoric Preservation BoardLiquor Licensing AuthorityParks & Recreation Advisory BoardPlanning CommissionCampaign Election Board

CityAttorney

MunicipalJudge

City Clerk

CommunicationsManager

HumanResources

Finance andAdministrative

Services

PoliceDepartment

Fire Department

Public Works

Parks andRecreation

Planning andDevelopment

AdministrativeAssistant

Boards and Commissions:Citizens Budget Advisory CommitteeCommunity Sustainability Advisory BoardEconomic Development CommissionFire Pension BoardGolden Urban Renewal AuthorityHistoric Preservation BoardInvest Advisory CommitteeLiquor Licensing AuthorityParks & Recreation Advisory BoardPlanning CommissionCampaign Election Board

Page 35: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 27 City of Golden

2009/2010 Biennial Budget

FullTime (a)

Reg.Part

Time (b) Other (c)Full

Time (a)

Reg.Part

Time (b) Other (c)Full

Time (a)

Reg. PartTime (b) Other (c)

FullTime (a)

Reg. PartTime (b) Other (c)

ADMINISTRATIONCity Council 7 7 7 7City Manager 2 2 2 2Communications Manager 1 1 1 1 1 1 1 1City Clerk 2 1 2 1 2 1 2 1Human Resources 3 1 3 1 3 1 3 1Municipal Court Services 3 3 3 3Finance 8 2 9 1 9 1 9 1Information Technology 6 6 6 6Fleet Management 4 1 4 1 4 1 4 1Planning & Development 5 5 5 5GURA 1 1 1 1

PUBLIC WORKSAdmin. & Engineering 9 1 9 1 9 1 9 1Streets 14 14 14 14

POLICEAdmin. & Communications 22 1 11 22 1 11 22 1 11 22 1 11Operations 40 17 40 17 40 17 40 17

FIRE 9 70 9 70 9 70 9 70

PARKS & RECREATIONParks & Recreation Management 4 4 4 4Outdoor Recreation 2.45 24 2.45 24 2.45 24 2.45 24Parks 10 8 11 8 11 8 11 8Forestry 1 4 1 4 1 4 1 4RV Park 5 5 5 5Municipal Facilities 2.40 1 2.40 1 2.40 1 2.40 1Community Center 9.40 10 75 9.40 10 75 9.40 10 75 9.40 10 75Cemetery 3 5 3 5 3 5 3.0 5Splash Aquatic Park 0.25 66 0.25 66 0.25 66 0.25 66Fossil Trace Golf Course 8 7 90 8 7 90 8 7 90 8 7 90Rooney Road Sports Complex 0.50 2 0.50 2 0.50 2 0.50 2

UTILITIESWater & WastewaterPrevention & Maintenance

9 1 9 1 9 1 9 1Environmental Services 6 2 6 2 6 2 6 2Water Treatment 9 9 9 9

TOTAL STAFF 194 30 383 196 29 383 196 29 383 196 29 383

(a) Full time staff may be pro rated across different depts.

(b) Reg. Part Time includes part time staff working 24 hrs or more per week.

(c) Other includes:Part time staff working less than 24 hrs per weekSeasonal/TemporaryVolunteer Firefighters/Police Reserves

2009 2010

Staffing Chart

2007 2008

DEPARTMENT / DIVISION

2008 Staff Changes:1 Director for both Parks and Cemetery was combined toone position in 2008

2 In 2008, one part time sales tax auditor position waschanged to a full time position.

2009 Staff ChangesNone

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Page 28 City of Golden 2009/2010 Biennial Budget

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20

09

REV

ENU

EM

AN

UA

L

2009 REVENUE MANUAL

Prepared by

The Finance Department

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Page 29 City of Golden

2009/2010 Biennial Budget

PROPERTY TAX REVENUE

Distribution: General Fund 100%

Source: Golden property owners.

Collection: The collection process begins with the Jefferson County Assessor's Office. Two types of property are valued by the Assessor's Office: 1) "real property" (land & buildings) and 2) “personal property” (business machines & equipment). Once market values are established, the Assessor's Office computes the assessed valuation of property based on State-legislated assessment percentages. Property is assessed at the end of one year, for collection in the following year. An eight year history of these assessment percentages is provided in the table below:

Assessment Percentages

Property Class 2000 2001 2002 2003 2004 2005 2006 2007

Real Property:Commercial 29.00 29.00 29.00 29.00 29.00 29.00 29.00 29.00Residential 9.74 9.15 9.15 7.96 7.96 7.96 7.96 7.96

Personal Property: 29.00 29.00 29.00 29.00 29.00 29.00 29.00 29.00

City of Golden Assessed Valuations

Total assessed valuation (in millions) for the City of Golden for the past eight years is demonstrated by the following table:

2000 2001 2002 2003 2004 2005 2006 2007Assessed Valuation $244.0 $300.8 $295.6 $308.4 $311.2 $331.0 $331.8 $367.6

Mill Levies For Golden Residents

Assessments are furnished to the Jefferson County Treasurer's Office. The Treasurer's Office issues property tax bills to every property owner based on the property's assessed valuation and the total mill levy which local governments have certified for the year. Within Golden, mill levies are certified by the City of Golden, Jefferson County, R-1 Jefferson County School District and the Urban Drainage & Flood Control District. A few Golden property owners also are subject to mill levies issued by the Golden Downtown General Improvement District (2.352 in 2007), the Pleasant View Water and Sanitation District (0.552), Pleasant View Metro District (4.984), and the Fairmont Fire Protection District (8.553).

Payment

Property owners pay property taxes to Jefferson County in either two installments due February 28 & June 15 or in one installment due April 30. Jefferson County wire transfers the City’s property taxes directly to the City’s main bank account on the 10th of the month following the month that the collection is processed by Jefferson County.

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Page 30 City of Golden 2009/2010 Biennial Budget

PROPERTY TAX REVENUE, continued

A five-year history of the mill levies which apply to all Golden taxpayers is provided in the table below:

Five Year Mill Levy History

2003 2004 2005 2006 2007City of Golden 12.340 12.340 12.340 12.340 12.340Jefferson County 23.867 24.346 24.346 24.346 24.346R-1 School District 43.848 51.098 49.053 49.028 48.118Urban Drainage District 0.533 0.538 0.532 0.542 0.507

Total 80.588 88.322 86.271 86.256 85.311City's % of Tax Bill 15.3% 14.0% 14.3% 14.3% 14.5%

City of Golden Percentage of Tax Bill

Percentage of Tax Bill

City of Golden, 14.5%

Other Governments,

85.5%

Computing The Property Tax Bill

The formulas used for computing property taxes are as follows:

Assessed valuation = Property market value x Assessment ratio Property tax = Assessed valuation x Mill Levy / 1000

For the 2007 assessments paid in 2008, the owner of a home valued at $250,000 would have paid $246 in property taxes to the City of Golden and $1,471 to the three other governments.

Golden Other GovernmentsMarket value $ 250,000 $ 250,000 x Assessment ratio 7.96% 7.96%Assessed value $ 19,900 $ 19,900 x Mill Levy 12.340 72.971 Divided by 1000 /1000 /1000 Property tax $246 $1,452

Using the 29% business assessment percentage, a business with a 2007 market value of $250,000 would have paid $895 in property taxes to the City of Golden in 2008, and $5,290 to the other three governments.

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Page 31 City of Golden

2009/2010 Biennial Budget

PROPERTY TAX REVENUE, continued

Legal Restrictions

The Taxpayer Bill of Rights (TABOR) Amendment to the Colorado Constitution limits property tax revenue growth to the amount collected the previous year increased by the Denver-Boulder Consumer Price Index and a local growth factor. However, Golden citizens have voted to exempt the City from the revenue limit provisions of TABOR. TABOR also prohibits any increase to the mill levy except by election.

The Gallagher Amendment to the Colorado Constitution also restricts property tax growth in requiring the legislature to annually adjust the residential assessed valuation percentage to ensure that the proportion of residential to total State assessed valuation remains constant – residential properties pay 45% of the total property taxes, while commercial and industrial properties pay 55%. The decreasing residential assessment ratio noted in the table is a result of residential growth and market values rising relative to commercial market values. In order to maintain this proportional allocation, the residential property assessment percentage has declined from 21% in 1982 to the current level of 7.96%, while the non-residential property percentage has remained at 29%.

Finally, there is a statutory limitation which prohibits property tax revenue growth from exceeding 5.5% each year, adjusted for new construction, although it is generally held that home rule cities like Golden are exempt from this provision.

Five Year Trend:

Year Revenue2004 3,481,1902005 3,497,0752006 3,709,4812007 3,739,3052008 3,960,000

0

1,500,000

3,000,000

4,500,000

2004 2005 2006 2007 2008

The strong local housing market, along with annexations and commercial construction, has contributed to the substantial increases in property taxes. The increases in 2006 and 2008 are due in large part to the biennial property reassessment conducted by the County Assessor’s office.

Forecast: 2009 $4,510,000 2010 $4,690,000

Rationale: Forecast includes a 1% increase in 2009 based on the 1% residential growth cap and 4% increase in 2010 to allow for the biennial property reassessment as performed by the County Assessor. Forecast is gross revenue, while 2008 and prior are net of the Coors Technology Center Fire Protection rebate.

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Page 32 City of Golden 2009/2010 Biennial Budget

SALES TAX REVENUE

Distribution: General Fund 66.7% Sales and Use Tax Capital Improvement (SUT) Fund 33.3%

Source: Visitors, residents and employees in Golden.

Collection: In 1979, the citizens of Golden voted to install a 2% sales and use tax. In 1991, the citizens voted to increase the sales and use tax rate to 3%, with the extra 1% to be earmarked for capital improvements. Sales tax is charged on all retail purchases including food.

As a home rule city, Golden collects and administers its own sales and use tax. Businesses remit tax to Golden on a monthly, quarterly or annual basis. Taxes collected are due to the City by the 20th of the month following collection. The City has established a lockbox for the efficient and secure deposit of sales and use tax monies. Returns are mailed directly to the bank, eliminating processing float. The City utilizes a number of enforcement procedures to collect from delinquent accounts including taxpayer education, delinquency notices, personal phone contact and visits, audits, summons to municipal court and seizures.

Five Year Trend:

General SUTYear Fund Fund Total2004 6,532,394 3,265,171 9,797,5652005 6,692,883 3,346,049 10,038,9322006 6,888,391 3,446,795 10,335,1862007 7,159,087 3,579,007 10,738,0942008 7,373,860 3,686,930 11,060,790

0

5,000,000

10,000,000

15,000,000

2004 2005 2006 2007 2008

Sales tax revenues have rebounded from the economic slowdown of 2003, increasing steadily each year, with 2008 revenues projected to be 3% over 2007. The addition of Staples in 2007 has offset the loss of Foss General Store. The addition of Big 5 Sporting Goods in 2008 also brings new tax dollars to the City. New retail operations in neighboring cities (i.e. the new Kohl’s in Arvada) and internet sales have had some negative impact on Golden’s revenues.

Forecast: 2009 $11,337,300 2010 $11,620,740

Rationale: With concerns about rising gas prices and inflation affecting discretionary purchases, revenues are still expected to increase, but not as much as in prior years. Forecast anticipates a 2.5% growth in Sales Tax for both 2009 and 2010, allowing for population increases, inflation, and some new commercial activity filling new store fronts in the downtown.

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Page 33 City of Golden

2009/2010 Biennial Budget

USE TAX REVENUE

Distribution: General Fund 66.7% Sales and Use Tax Capital Improvements Fund 33.3% Source: Citizens and businesses in Golden, including automobile use tax collected and remitted by

Jefferson County and use tax on business purchases remitted by Golden businesses.

Collection: In 1979, the citizens of Golden voted to install a 2% sales and use tax. In 1991, the citizens voted to increase the sales and use tax rate to 3%, with the extra 1% to be earmarked for capital improvements. Use tax is collected on purchases of items which are used in Golden and on which 3% local sales tax has not been paid to another jurisdiction.

Jefferson County collects automobile use tax and remits monthly to the City of Golden. Businesses remit tax to Golden on a monthly, quarterly or annual basis. Taxes are due to the City by the 20th of the month following purchase of the item. The City has established a lockbox for the efficient and secure deposit of sales and use tax monies. Returns are mailed directly to the bank, eliminating processing float. The City utilizes a number of enforcement procedures to collect from delinquent accounts including taxpayer education, delinquency notices, personal phone contact and visits, audits, summons to municipal court and seizures.

Five Year Trend:

General SUTYear Fund Fund Total2004 1,419,146 709,797 2,128,9432005 1,483,257 741,017 2,224,2742006 1,792,571 896,151 2,688,7222007 2,310,451 1,155,052 3,465,5032008 2,100,000 1,050,000 3,150,000

0

1,000,000

2,000,000

3,000,000

4,000,000

2004 2005 2006 2007 2008

Use tax has fluctuated based on business investment, build out and new commercial development. The increases in 2004-2007 are a result of the improved economy and business investment, as well as improved compliance from existing businesses. The decline in 2008 is minimal, but was expected given the huge increase in 2007.

Forecast: 2009 $3,228,750 2010 $3,309,450

Rationale: Forecast anticipates 2.5% growth in 2009 and 2010, with no incremental increases for new commercial activity.

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Page 34 City of Golden 2009/2010 Biennial Budget

BUILDING USE TAX REVENUE

Distribution: General Fund 66.7% Sales and Use Tax Capital Improvements Fund 33.3%

Source: Contractors, developers, Golden businesses and residents.

Collection: Building use tax is assessed at 3% of 50% of the estimated value of the construction project. Construction labor is typically not subject to use tax, and the City of Golden estimates that 50% of the building permit value is related to taxable materials, equipment, appliances, etc. Building use tax is estimated and collected by the Public Works Department at the time a building permit is obtained. Monies collected are deposited through the Finance Department.

Five Year Trend:

General SUTYear Fund Fund Total2004 325,304 162,628 487,9322005 383,109 191,526 574,6352006 441,579 220,757 662,3362007 413,616 206,777 620,3932008 417,300 208,650 625,950

0

200,000

400,000

600,000

800,000

1,000,000

2004 2005 2006 2007 2008

Building Use Tax includes new residential construction and home improvements, as well as commercial construction and can fluctuate annually, primarily based on commercial construction. New residential construction is limited by a 1% growth cap. The peak in 2006 is the result of large commercial projects, including the Gateway Station in Downtown and build out at the Coors Technology Center. The decline for 2007 and 2008 reflects a decline in the amount of new residential construction.

Forecast: 2009 $615,000 2010 $630,375

Rationale: Forecast anticipates 75 residential building permits in 2009 and 76 in 2010, both below the 1% growth cap, with some remodel and home improvement permits and some new commercial construction.

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Page 35 City of Golden

2009/2010 Biennial Budget

SALES & USE TAX AUDIT REVENUE

Distribution: General Fund 66.7% Sales and Use Tax Capital Improvements Fund 33.3% Source: Businesses doing business in Golden, also audits of construction projects for building use tax.

Collection: The City's audit program emphasizes taxpayer education and voluntary compliance. As a result, the City works with businesses which are delinquent or not remitting taxes to educate them on the correct way to calculate and remit sales and use tax. An audit may take 2 hours, or several months, to perform, depending on the complexity of the organization. Once the City completes an audit, it meets with the taxpayer to go over the audit assessment and make any appropriate adjustments or corrections. The taxpayer then has 20 days to pay the assessment, work out a settlement or payment plan, or protest the assessment. The City collects assessments through the Finance Department.

Five Year Trend:

General SUTYear Fund Fund Total2004 221,406 104,303 325,7092005 1,030,540 513,412 1,543,9522006 414,800 207,369 622,1692007 413,630 206,784 620,4142008 360,000 180,000 540,000

0

400,000

800,000

1,200,000

1,600,000

2004 2005 2006 2007 2008

Audit revenues will fluctuate based on the size and number of audits. Audits are performed through on-site visits, by mail/e-mail correspondence (desk audits), or through the City’s contract auditors, Revenue Recovery Group (RRG). In 2004, an audit program was initiated to identify and audit businesses that had never licensed or remitted taxes previously, or have appeared to underpay their tax obligations. Approximately $1 million of the audit revenue in 2005 is the result of partial payments from one audit. That audit is in the protest process, with additional payments to be determined. Currently, the City has three audits in the hearing process at the State level, with the amount and likelihood of collection still unknown.

Forecast: 2009 $480,000 2010 $480,000

Rationale: Forecast is based on the continuation of the audit program with anticipated audits of several large businesses.

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Page 36 City of Golden 2009/2010 Biennial Budget

VENDOR DISCOUNT REVENUES

Distribution: General Fund 100%

Source: Visitors, residents and employees in Golden.

Collection: In 2001, City Council elected to temporarily waive the 2.5% vendor fee which was available to businesses that collect and remit Golden sales tax. The discount was calculated as 2.5% of sales tax collected if the tax was remitted to the City by its due date. City Council allocated the discount to cover the costs of city-wide economic development efforts.

As a home rule city, Golden collects and administers its own sales and use tax. Businesses remit tax to Golden on a monthly, quarterly or annual basis. Taxes collected are due to the City by the 20th of the month following collection. The City has established a lockbox for the efficient and secure deposit of sales and use tax monies. Returns are mailed directly to the bank, eliminating processing float. The vendor discount is calculated by staff and transferred by journal entry to a separate revenue account.

Five Year Trend:

Year Revenue2004 250,5072005 253,5252006 262,5662007 273,4212008 280,200

0

100,000

200,000

300,000

400,000

2004 2005 2006 2007 2008

Economic development efforts have been focused on increased awareness of the Golden area businesses and awareness of community events. Programs include local advertising on billboards, bus panels and newspapers, circulation of promotional coupons, Quick Guides and mailers along with enhanced public relations and media attention on community events. Fluctuations correlate with Sales Tax revenues and timeliness of remittances.

Forecast: 2009 $287,200 2010 $294,400

Rationale: Forecast is proportional to the projected annual increases in sales tax revenue and considers late filers.

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Page 37 City of Golden

2009/2010 Biennial Budget

AUTO OWNERSHIP TAX REVENUE

Distribution: General Fund 100%

Source: Residents and businesses of Golden.

Collection: The State of Colorado establishes the statutory authority for collecting auto ownership tax. Vehicle owners pay auto ownership tax upon registration of the vehicle and annually thereafter to Jefferson County, which acts as a collection agent for the State. The amount of tax is based on the value of the vehicle. Jefferson County distributes the tax accordingly:

(1) $.50 of each ownership tax payment goes to the State of Colorado to maintain the motor vehicle computer system.

(2) $.50 of each ownership tax payment goes to Jefferson County's general fund to pay for clerical processing.

(3) the remainder of the tax is distributed to Golden based on a percentage derived by comparing ad valorem (property) taxes collected by the county on behalf of the City to total ad valorem taxes collected for all taxing authorities in the county.

The City of Golden receives its share via wire transfer from Jefferson County into its main bank account on the 10th of the month following the month that the collection is processed by Jefferson County.

Five Year Trend:

Year Revenue2004 407,8862005 371,9372006 336,8922007 364,9332008 360,000

0

200,000

400,000

600,000

2004 2005 2006 2007 2008

The decline in Auto Ownership Tax is due to a decrease in new car purchases over the last few years. Also, with rising gas prices, less expensive new cars with better gas mileage are being purchased. Finally, with the City’s 1% growth cap on residential permits, Golden is not growing as fast as other areas in the County. As a result, the percentage of ad valorem taxes for Golden compared to the rest of the County is declining.

Forecast: 2009 $360,000 2010 $360,000

Rationale: Forecast anticipates stable revenue in 2009 and 2010. New car purchases and subsequent ownership tax is expected to increase to offset the declining percentage of ad valorem taxes.

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Page 38 City of Golden 2009/2010 Biennial Budget

CABLE FRANCHISE FEE

Distribution: General Fund 100%

Source: 5% of gross revenues received by Comcast on sales of cable television within the City. The Franchise Agreement allows Comcast a right of way on/under City streets to operate its cable system in exchange for a fee charged on revenues from the Cable System.

Collection: Under the auspices of the franchise agreement with Comcast, they are to remit to the City quarterly payments no later than 30 days following the close of each quarter.

Five Year Trend:

Year Revenue2004 129,5982005 140,0802006 149,6282007 160,8822008 170,000

0

100,000

200,000

300,000

2004 2005 2006 2007 2008

Federal Legislation passed in 2002 exempting cable modem service from franchise fees reduced revenues received. The increases beginning in 2004 reflect a growing service base, as well as rate increases.

Forecast: 2009 $171,700 2010 $173,400

Rationale: Forecast anticipates 1% annual increases to allow for increased population subscribing to cable service, as well as periodic rate increases.

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Page 39 City of Golden

2009/2010 Biennial Budget

XCEL ENERGY FRANCHISE FEE

Distribution: General Fund 100%

Source: 3% of gross revenues received by Xcel Energy on sales of gas and electricity within the City.

Collection: Under the auspices of the franchise agreement with Xcel Energy, they are to remit to the City monthly payments no later than 30 days following the close of the month.

Five Year Trend:

Year Revenue2004 666,9612005 769,5212006 784,8812007 769,4772008 800,000

0

300,000

600,000

900,000

2004 2005 2006 2007 2008

Increasing revenues are a combination of the number of customers, consumption, and utility rates. Several rate increases have occurred over the last few years.

Forecast: 2009 $820,000 2010 $840,500

Rationale: Forecast anticipates a conservative increase of 2.5% in both 2009 and 2010 to allow for an increase in the customer base and rate increases.

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Page 40 City of Golden 2009/2010 Biennial Budget

BUILDING PERMIT REVENUE

Distribution: General Fund 100%

Source: Contractors, Developers, Golden businesses and residents.

Collection: The building permit fee is determined by Public Works in accordance with the standard fee schedule based on total valuation of the construction project contained in the Uniform Building Code. The fee is paid at the time a building permit is obtained. Monies collected are deposited through the Finance Department. Additional fees are collected as determined through the audit of building projects.

Five Year Trend:

Year Revenue2004 363,7402005 397,8232006 355,9092007 341,5502008 350,000

0

150,000

300,000

450,000

600,000

2004 2005 2006 2007 2008

The impact of commercial construction is reflected in the fluctuations in revenues and includes the development of Clear Creek Square, build out at Corporate Center, Golden Ridge, and the Coors Technology Center. Residential construction permits have been a stable component of revenues as they are capped by the 1% growth limit. Historically, about 95% of all allowable residential permits have been pulled annually.

Forecast: 2009 $350,000 2010 $385,000

Rationale: Forecast anticipates stable Building Permit revenue in 2009 with a 10% increase in 2010 to allow for the projected issuance of banked residential building permits to be issued, with minimal commercial activity.

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Page 41 City of Golden

2009/2010 Biennial Budget

FIRE CONTRACT FEE REVENUE

Distribution: General Fund 100%

Source: Contracts with businesses, governments and residents for providing fire service out of the city limits.

Collection: The City establishes fees charged through negotiation with each property outside the city limits for which it provides fire service. The formula used as a basis for negotiations calculates the charge on the equivalent amount of property taxes the entity would pay to support the fire department if the entity was located within Golden. The City is paid on an annual basis through the Finance Department depending on the stipulations of the various contracts.

Five Year Trend:

Year Revenue2004 261,5002005 264,3562006 264,1582007 261,0522008 264,160

0

150,000

300,000

450,000

600,000

2004 2005 2006 2007 2008

Revenues are based on contracted amounts. The majority of revenues received are from The Coors Brewing Company.

Forecast: 2009 $256,400 2010 $256,400

Rationale: Forecast is based on an anticipated reduction in the contract with MillerCoors that will be renegotiated due to the merger.

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Page 42 City of Golden 2009/2010 Biennial Budget

CAMPGROUND REVENUE

Distribution: General Fund 100%

Source: Visitors to Golden.

Collection: The Campground customer service representatives collect fees from campers and remit to the Finance Department for deposit. In 2003, the campground managers were replaced by customer service representatives and the hours of the campground office decreased.

Five Year Trend:

Year Revenue2004 202,4032005 213,6292006 233,7572007 230,3832008 232,000

0

100,000

200,000

300,000

400,000

2004 2005 2006 2007 2008

The Campground provides sites for campers, tents and trailers for daily, weekly or monthly rentals. Summer and winter alike, the Campground is often at capacity. Attendance declined in 2003, but increased from 2004 through 2006. A minimal fee increase was implemented in 2006. In addition, the Campground now offers high-speed internet connections and collects a commission on the usage fee.

Forecast: 2009 $250,000 2010 $250,000

Rationale: Forecast anticipates a modest fee increase for 2009 and continued stable revenues as the campground is generally at or near capacity.

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Page 43 City of Golden

2009/2010 Biennial Budget

RECREATION FEES/FIELD RENTAL REVENUE

Distribution: General Fund 100%

Source: Fees paid by individuals and teams for programs offered by the Parks & Recreation Department for outdoor recreation activities, including: tennis, in-line hockey, softball, flag football, soccer, T-Ball, and baseball. Also includes field rental fees for programs and tournaments offered by outside agencies.

Collection: The City establishes fees charged per cost recovery policies established by the Parks & Recreation Department and approved by City Council. Monies are collected by the Parks & Recreation Department and deposited through the Finance Department.

Five Year Trend:

Year Revenue2004 119,4272005 103,5702006 138,2392007 150,0692008 150,000

0

50,000

100,000

150,000

200,000

2004 2005 2006 2007 2008

Revenues have gone up due to increased participation in the various athletic programs as the City has offered new programs and implementing a more extensive marketing campaign.

Forecast: 2009 $151,500 2010 $153,000

Rationale: Forecast includes a modest increase each year to coincide with the projected annual population increase.

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Page 44 City of Golden 2009/2010 Biennial Budget

ADMINISTRATIVE SERVICE FEE REVENUE

Distribution: General Fund 100%

Source: Enterprise Funds.

Collection: The amount of the service fee charged is determined during the City’s annual budget process. It is calculated based on the relative budget amount that each administrative department serves. The Finance Department effects the collection by transferring cash from the Water, Wastewater, Drainage, and Golf Course Funds to the General Fund on a monthly basis. The service fee is not charged to the enterprise funds that receive General Fund subsidies (Community Center, Splash, and Cemetery funds).

The fee is intended as a reimbursement for services which the General Fund provides to the enterprise operations including utility billing, payroll processing, accounting, policy making, human resources, general legal support, management and additional administrative duties.

Five Year Trend:

Year Utilities Recreation Total2004 520,000 100,000 620,0002005 545,000 97,500 642,5002006 576,000 80,800 656,8002007 622,000 84,840 706,8402008 637,000 89,080 726,080

0

200,000

400,000

600,000

800,000

2004 2005 2006 2007 2008

Adjustments to the service fees are the result of increases in salary and benefit costs and additions to staff. Adjustments are made in an effort to more accurately reflect administrative services provided. The Golf Course admin fee was added in 2004. The admin fee for Splash was eliminated in 2006 and netted against the annual General Fund subsidy.

Forecast: 2009 $762,380 2010 $800,500

Rationale: Revenue forecast based on an annual 3% increase of General Fund services allocated.

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Page 45 City of Golden

2009/2010 Biennial Budget

PLAN CHECK FEES

Distribution: General Fund 100%

Source: Contractors and developers.

Collection: The plan check fee is determined by Public Works and charged based on a fee schedule in accordance with the International Building Code. Fees are assessed for the review of plans for construction permit issuance. The fee is paid at the time the plans are reviewed. Monies collected are deposited through the Finance Department.

Five Year Trend:

Year Revenue2004 154,9692005 223,3782006 203,8852007 201,8642008 200,000

0

100,000

200,000

300,000

400,000

2004 2005 2006 2007 2008

Revenues will fluctuate based on the amount of commercial construction, new residential housing starts, and home improvements. Fees for plan reviews on residential construction are fairly stable based on the growth cap, although it can vary as developers bank their allocations in some years. Commercial activity was at a normal level in 2004, increased significantly in 2005, and dropped some, but remained above normal levels in 2006.

Forecast: 2009 $200,000 2010 $200,000

Rationale: Forecast is stable based on the review of the allocation for residential construction permits and limited commercial construction.

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Page 46 City of Golden 2009/2010 Biennial Budget

CIGARETTE TAX REVENUE

Distribution: General Fund 100%

Source: Cigarette smokers in Colorado.

Collection: The state imposes and collects a twenty cent per pack tax on cigarettes, of which 27% of the proceeds are distributed to municipalities and counties according to the ratio of the state sales tax collected in the entity to the total state sales tax collected in the prior year. The state disburses the funds two months after they are collected. (Note: Voters in Colorado approved an increase in the cigarette tax, effective January 1, 2005. However, the increase is earmarked for specific purposes and is not included in the distribution to municipalities and counties.)

Five Year Trend:

Year Revenue2004 154,7352005 148,7382006 158,3042007 153,0202008 150,000

0

100,000

200,000

300,000

400,000

2004 2005 2006 2007 2008

Revenues are decreasing as the number of smokers is declining, more cigarettes are purchased out-of-state and over the internet, and the City’s percentage of state sales tax collections is declining as a result of greater growth in other areas of the state.

Forecast: 2009 $147,000 2010 $144,060

Rationale: Forecast is based on an anticipated decline of 2% per year.

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Page 47 City of Golden

2009/2010 Biennial Budget

COUNTY ROAD AND BRIDGE REVENUE

Distribution: General Fund 100%

Source: Residents and businesses owning property in Jefferson County.

Collection: Jefferson County imposes a mill levy dedicated to road and bridge improvements throughout Jefferson County. Because Jefferson County's efforts only include unincorporated areas and the property tax is collected from all areas, the State requires that Jefferson County return one half of the road and bridge levy to each city. The formula used to compute the amount returned to Golden is as follows:

County Road and Bridge Levy x Total City Assessed Value / 2 = City Portion

The money is distributed via electronic funds transfer on a quarterly basis to the City of Golden.

Five Year Trend:

Year Revenue2004 376,9712005 387,1092006 387,1782007 403,9512008 409,700

0

150,000

300,000

450,000

600,000

2004 2005 2006 2007 2008

Limited new residential and commercial construction, and the completion of the biennial property value reassessments in odd numbered years for the following year’s collections have resulted in stable and slightly increasing revenues.

Forecast: 2009 $419,940 2010 $430,440

Rationale: Assumes 2.5% annual increases to allow for new construction, and periodic increases in assessed valuation of property.

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Page 48 City of Golden 2009/2010 Biennial Budget

COURT FINES & FEES REVENUE

Distribution: General Fund 100%

Source: Tickets and citations issued by the Golden Police and fines adjudicated by the Golden Municipal Judge.

Collection: Tickets are paid through the mail and drop box or directly to the Finance Department. Regular court is held every Thursday morning, and juvenile court is held the fourth Thursday afternoon of every month. All collection efforts are made by the Golden Municipal Court.

Five Year Trend:

Year Traffic Other Total2004 132,855 250,752 383,6072005 234,731 287,281 522,0122006 231,449 316,748 548,1972007 189,935 227,447 417,3822008 257,000 243,500 500,500

0

250,000

500,000

750,000

2004 2005 2006 2007 2008

Court revenues are dependent on citations issued by the Police Department, enforcement priorities within the Department, and fines and court costs as administered by the Judge. Increasing case loads and an increase in the fine and fees schedule have resulted in an overall revenue increases. Decreases in Traffic Revenues is typically a result of staffing levels (due to turnover or inactive duty) within the Department. Increases in 2005 and 2006 are the result of a federal COPS grant that added 4 police officers late in 2004, all assigned to traffic enforcement. The decrease in 2007 is due to staffing shortages that forced the traffic enforcement unit to be temporarily reassigned to other duties. 2008 included an increase in traffic fines and fees.

Forecast: 2009 $507,300 2010 $512,350

Rationale: Revenue forecast assumes a 1% increase annually to allow for increased population and traffic volume in the City, and assumes the current staffing level in the Police Department.

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Page 49 City of Golden

2009/2010 Biennial Budget

GAMING GRANT REVENUE

Distribution: General Fund 100%

Source: Gaming revenues remitted to the State of Colorado by casinos in the approved gaming communities.

Collection: The City is typically awarded a grant in the fall annually after an application and interview process through the Colorado Department of Local Affairs. 10% of the grant is received in December, with the remaining 90% received in the 3rd Quarter of the following year.

Five Year Trend:

Year Revenue2004 176,7102005 187,5802006 135,0002007 113,7742008 146,270

0

75,000

150,000

225,000

2004 2005 2006 2007 2008

Gaming Grant revenues are dependent on the number of police and fire calls for service that are gaming related and the subsequent percentage of those department budgets. Grant revenues increased in 2003-2005 based on increased gaming related calls and cost of service. The decrease in 2006 and 2007 is due to reduced call volumes the previous years, in part due to the temporary closure in 2005 of Highway 6 in the canyon, as well as reduced funds available from the State.

Forecast: 2009 $121,200 2010 $122,400

Rationale: Revenue forecast for 2009 is less than 2008 due to the capital portion of the grant awarded for 2008. 2010 assumes a slight increase to allow for increased call volume and increases in the police and fire budgets.

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Page 50 City of Golden 2009/2010 Biennial Budget

INVESTMENT INCOME

Distribution: All Funds on a prorata basis to cash and investment balances held.

Source: Interest and investment income from investments made by the City. Interest revenues will vary based on rates and portfolio volume.

The City utilizes the services of an outside investment firm, MBIA Asset Management Group for investment recommendations. Securities authorized by the City Council’s approved investment policy do not include derivative products.

Collection: Investment maturities and earnings are set up for automatic wire transfers or deposit to the City's main bank account.

Five Year Trend:

Year Revenue2004 270,9682005 589,2642006 1,384,2632007 1,506,1172008 982,900

0

400,000

800,000

1,200,000

1,600,000

2004 2005 2006 2007 2008

In 2005, interest rates rose, resulting in increased revenue. In 2006, in addition to continued rising interest rates, the City received bond proceeds from the issuance of COP’s and Water Revenue Bonds. A large amount of the proceeds were still earning interest in 2007, and rates continued to rise. 2008 shows a decrease as bonds proceeds have been spent and rates have declined.

Forecast: 2009 $696,350 2010 $759,325

Rationale: Forecast based on anticipated cash balances in the individual funds and projected interest rates of 4% in 2009 and 4.5% in 2010.

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Page 51 City of Golden

2009/2010 Biennial Budget

WATER SALES REVENUE

Distribution: Water Fund 100%

Source: Golden water customers.

Collection: The City water customers are divided into three segments. One-third of the City's water meters are read by the Public Works Department each month. Quarterly billings are issued by the Finance Department. Customers have until the end of the month to pay their bill. If a customer becomes more than 45 days delinquent in paying a bill, then water service is shut off until the bill and reinstatement charges are paid.

Customers pay at the Finance Department, through the City Hall drop box, or through the mail. Mailed payments go directly to the City's bank through a lock box system.

Five Year Trend:

Year Revenue2004 3,031,9992005 3,609,1962006 4,069,8722007 4,121,1192008 4,350,000

0

1,500,000

3,000,000

4,500,000

6,000,000

2004 2005 2006 2007 2008

2004 was the final year of declining revenues as a result of decreased consumption following the drought in September 2002. Consumption increased beginning in 2005 following the completion of Guanella Reservoir and the assurance that the City had sufficient water to meet the needs of the citizens. Rates have also increased each year since 2005.

Forecast: 2009 $4,393,500 2010 $4,659,300

Rationale: Forecast anticipates a relatively stable consumption, with a slight increase due to the 1% increase in the number of residential customers. Rate increases of 5% per year through 2010 have been approved by City Council. Staff has recommended to Council that the 2009 5% rate increase be deferred.

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Page 52 City of Golden 2009/2010 Biennial Budget

COORS WATER SALES REVENUE

Distribution: Water Fund 100%

Source: Coors Brewing Company.

Collection: Coors buys and uses all excess water which the City buys from Henderson Mine. Coors pays a contractual amount of $5 per acre-foot more than the City pays for the water which it receives. Additionally, Coors receives water under the terms of the Cosmic Settlement. It pays an amount per acre foot which differs according to the season of the year under this agreement. Coors remits to the City the amount it owes on a monthly basis.

Five Year Trend:

Year Revenue2004 203,7182005 515,7642006 575,3322007 494,5942008 500,000

0

150,000

300,000

450,000

600,000

2004 2005 2006 2007 2008

Fluctuations in revenues reflect availability of water to sell. The increase in 2005 includes a billing adjustment from 2003-2004 to correct for rate increases based on changes to the Denver/Boulder CPI. With the completion of Guanella Reservoir 2004, the City is able to store water from its other water rights, making more water available to Coors on a regular basis.

Forecast: 2009 $505,000 2010 $510,050

Rationale: Forecast assumes stable levels of water sales to Coors, with a slight increase to allow for changes to the CPI.

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Page 53 City of Golden

2009/2010 Biennial Budget

WATER DEVELOPMENT FEE REVENUE

Distribution: Water Fund 100%

Source: New residential and commercial development.

Collection: City of Golden Municipal Code requires that water development fees be paid at the time the building permit is issued. Public Works computes the amount owed and collects it from the developer. Public Works then remits the money to the Finance Department for recording and deposit.

Five Year Trend:

Year Revenue2004 1,208,6412005 782,4012006 923,9672007 1,085,3082008 658,500

0

400,000

800,000

1,200,000

1,600,000

2004 2005 2006 2007 2008

Historically, revenues have fluctuated depending on the amount of commercial construction and the banking of residential allocations from the one percent growth limit passed in 1995. The increase in 2004 is a reflection of commercial construction permits pulled. The decrease for 2008 is due to builders banking a large number of the residential permit allocations and lack of new commercial construction.

Forecast: 2009 $1,185,300 2010 $1,576,400

Rationale: Forecast includes Council approved fee increases of 5% annually through 2010, and assumes the issuance of 60 residential permits in 2009 and 76 in 2010. System Development fees for commercial construction is not budgeted as the timing of those projects is so variable.

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Page 54 City of Golden 2009/2010 Biennial Budget

WASTEWATER SALES REVENUE

Distribution: Wastewater Fund 100%

Source: Golden wastewater customers.

Collection: Wastewater charges are placed on the same bill as the water charges. The bill is based on the quantity of water used by a residential customer during the winter quarter. Commercial customers' wastewater charges are based on the water they use each quarter. Quarterly billings are issued by the Finance Department. Customers have until the end of the month to pay the bill. If a customer becomes more than 45 days delinquent in paying a bill, then water service is shut off until the bill and reinstatement charges are paid.

Customers pay at the Finance Department, through the City Hall drop box, or through the mail. Mailed payments go directly to the City's bank through a lock box system.

Five Year Trend:

Year Revenue2004 1,391,7902005 1,413,4452006 1,426,2042007 1,400,2102008 1,420,000

0

500,000

1,000,000

1,500,000

2,000,000

2004 2005 2006 2007 2008

Sewer charges had previously increased each year as residential and commercial customers were added to the system. The decrease that began in 2002 and continued through 2004 is the result of a drop in water usage, particularly by commercial customers, in response to drought conditions. Increased water consumption during the winter months resulted in increased sewer charges in 2005 and 2006. The decline in 2007 is due to decreased water consumption.

Forecast: 2009 $1,434,200 2010 $1,448,550

Rationale: Forecast assumes a 1% increase in revenue based on the increase in residential properties per the growth cap, with no anticipated rate increases.

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Page 55 City of Golden

2009/2010 Biennial Budget

WASTEWATER DEVELOPMENT FEE REVENUE

Distribution: Wastewater Fund 100%

Source: New residential and commercial development.

Collection: City of Golden Municipal Code requires that wastewater development fees are paid at the time the building permit is issued. Public Works computes the amount owed and collects it from the developer. Public Works then remits the money to Finance for recording and deposit.

Five Year Trend:

Year Revenue2004 382,5892005 244,2382006 196,5542007 211,9462008 110,180

0

150,000

300,000

450,000

2004 2005 2006 2007 2008

Historically, revenues have fluctuated depending on the amount of commercial construction and the banking of residential allocations from the one percent growth limit passed in 1995. The increase in 2004 is a reflection of commercial construction permits pulled. The decrease for 2008 is due to builders banking a large number of the residential permit allocation and lack of new commercial construction.

Forecast: 2009 $198,300 2010 $263,700

Rationale: Forecast includes Council approved fee increases of 5% annually through 2010, and assumes the issuance of 60 residential permits in 2009 and 76 in 2010. System Development fees for commercial construction is not budgeted as the timing of those projects is so variable.

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Page 56 City of Golden 2009/2010 Biennial Budget

DRAINAGE UTILITY FEE REVENUE

Distribution: Drainage Utility Fund 100%

Source: Property owners within the City limits.

Collection: Drainage Utility fees are placed on the same bill as water/wastewater charges. The quarterly bill is based on an average of 2,000 sq. ft. of impervious area for residential customers, the average square footage multiplied by number of units for multi-residential customers up to 4 units and actual impervious area for multi-residential customers above 4 units and commercial customers. Impervious area constitutes any area that doesn't allow water/snow to be absorbed by the ground, i.e. sidewalks, rooftops, driveways, parking lots, etc.

Quarterly billings are issued by Finance. Customers have until the end of the month to pay the bill. If a customer becomes more than 45 days delinquent in paying a bill, then water service is shut off until the bill and reinstatement charges are paid.

Customers pay at the Finance Department, through the City Hall drop box, or through the mail. Mailed payments go directly to the City's bank through a lock box system.

Five Year Trend:

Year Revenue2004 759,6352005 774,8062006 777,6842007 790,2642008 798,300

0

300,000

600,000

900,000

2004 2005 2006 2007 2008

Increasing Drainage Utility Fees are a result of residential / commercial construction and annexations. Residential construction is limited to the one percent growth cap. The fees have not changed since they were established in 1998, with the residential fee at $3.20 per month.

Forecast: 2009 $886,900 2010 $895,800

Rationale: Forecast includes an increase of 1% per year to allow for the issuance of the allocation of residential construction permits. A one-time, 10% increase is anticipated for 2009.

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Page 57 City of Golden

2009/2010 Biennial Budget

CEMETERY OPERATING REVENUE

Distribution: Cemetery Operating Fund 100%

Source: Customers of the Golden Cemetery

Collection: Fees include plot sales, vault settings, plot open and closing fees, memorial setting and columbarium fees. Fees are set on an annual basis by City Council. Fees are collected by the Golden Cemetery employees and remitted to Finance for recording and deposit.

Five Year Trend:

Year Revenue2004 330,5702005 338,5552006 296,4852007 382,5682008 349,850

0

150,000

300,000

450,000

600,000

2004 2005 2006 2007 2008

Cemetery revenues are demand based and are the result of requests for services. Modest fee increases have been approved during the 5-year period. The major increase in 2004 and 2005 has been in plot sales, as a result of marketing efforts by staff. Sales tapered off the first part of 2006, but increased again in 2007.

Forecast: 2009 $355,100 2010 $361,500

Rationale: Forecast anticipates increased demand with no fee increases proposed.

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Page 58 City of Golden 2009/2010 Biennial Budget

SPLASH AQUATIC PARK ADMISSION REVENUES

Distribution: Splash Aquatic Park Fund 100%

Source: Splash Aquatic Park users.

Collection: Collected over-the-counter at the Splash Aquatic Park and remitted to the Finance Department on a daily basis. Splash Aquatic Park users can pay either a Daily Admission Fee, purchase a punch card or a Splash membership. Splash is also available for rental. The Splash Aquatic Park is open Memorial Day through Labor Day.

Five Year Trend:

Year Revenue2004 201,7062005 245,8012006 272,7182007 301,0102008 275,300

0

100,000

200,000

300,000

400,000

2004 2005 2006 2007 2008

Low revenues in 2004 were a result of weather (cooler temperatures and more precipitation) and the opening of other aquatic facilities in the metro area. Warmer temperatures and a more aggressive marketing campaign resulted in increased revenues since 2005. The anticipated decrease in 2008 is partially due to school starting a week earlier in August than in prior years.

Forecast: 2009 $309,000 2010 $312,100

Rationale: Forecast anticipates a 1% annual increase in attendance to reflect the increasing population in the service area. A moderate fee increase is anticipated for 2009.

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Page 59 City of Golden

2009/2010 Biennial Budget

COMMUNITY CENTER ADMISSION REVENUE

Distribution: Community Center Fund 100%

Source: Users of the Community Center and corporations for employee wellness programs.

Collection: Community Center users can pay either a Daily Admission Fee, purchase a punch card or an annual membership. Fees are collected by phone registration, over-the-counter payments and direct payment (direct transfer through the Automated Clearing House (ACH) from the customer’s bank account to the City’s bank account). The fees are collected by Community Center staff and remitted to the Finance Department on a daily basis. The ACH payments are initiated by Finance on a monthly basis.

Five Year Trend:

Year Revenue2004 665,9042005 706,4502006 625,7182007 717,5652008 790,000

0

300,000

600,000

900,000

2004 2005 2006 2007 2008

Admissions declined through 2004 as other community centers opened in the area. A strong marketing effort in 2005 resulted in an increase of customers that is expected to be maintained in the future. Construction to the facility during the second half of 2006, that included the closure of the aquatics area for 10 weeks, had a negative impact on admissions. The expanded facility has seen increased admissions in 2007 and 2008.

Forecast: 2009 $800,000 2010 $855,000

Rationale: Forecast anticipates increased revenues from attendance increases due to the expanded facility and the increasing population, aggressive marketing efforts, and a proposed fee increase in 2010.

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Page 60 City of Golden 2009/2010 Biennial Budget

COMMUNITY CENTER PROGRAM FEES

Distribution: Community Center Fund 100%

Source: Recreation program fees paid by users of the Golden Community Center, including aquatics.

Collection: Collected by internet and phone registrations, over-the-counter payments, and by mail. The fees are collected by Community Center staff and remitted to the Finance Department on a daily basis.

Five Year Trend:

Year Revenue2004 378,8222005 416,3542006 430,2022007 542,0472008 570,000

0

200,000

400,000

600,000

800,000

2004 2005 2006 2007 2008

Higher Community Center Program revenues are the result of increased participation, new programs and fee increases. Programs are offered in fitness, aquatics, creative arts and personal development. A concentrated marketing effort in 2005 resulted in increased revenues for the year. Construction in 2006 caused a decline in the aquatics program revenues for the year. Increased revenues beginning in 2007 are a result of the expanded facility providing additional space for more program opportunities.

Forecast: 2009 $584,000 2010 $599,900

Rationale: Forecast anticipates increased program attendance, new programs and fee increases.

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Page 61 City of Golden

2009/2010 Biennial Budget

FOSSIL TRACE GOLF CLUB GREEN FEES

Distribution: Fossil Trace Golf Course Fund 100%

Source: Golf Course Customers.

Collection: Collected by over-the-counter payments. The fees are collected by the golf course staff and remitted to the Finance Department on a daily basis.

Five Year Trend:

Year Revenue2004 1,669,3432005 1,937,2942006 1,854,7942007 1,930,2442008 1,900,000

0

750,000

1,500,000

2,250,000

2004 2005 2006 2007 2008

The golf course opened July 2003. 2004 revenue was from approximately 37,097 18-hole equivalent rounds of golf at an average fee of $45. In 2005, green fees were increased $3-5 based on residency. The course had 38,002 18-hole equivalent rounds at an average fee of $50.98. 2006 realized 36,890 18-hole equivalent rounds at approximately $50.28 per round. 2007 saw 37,449 18-hole equivalent rounds at approximately $51.48 per round. Projections for 2008 are 37,000 18-hole equivalent rounds at approximately $51.36 per round.

Forecast: 2009 $1,875,000 2010 $2,040,000

Rationale: Forecast anticipates 36,500 18-hole equivalent rounds for both 2009 and 2010, with an average fee increase of $4.50 per 18-hole round in 2010.

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Page 62 City of Golden 2009/2010 Biennial Budget

FOSSIL TRACE GOLF CLUB CART RENTAL FEES

Distribution: Fossil Trace Golf Course Fund 100%

Source: Golf Course Customers.

Collection: Collected by over-the-counter payments. The fees are collected by the golf course staff and remitted to the Finance Department on a daily basis.

Five Year Trend:

Year Revenue2004 428,2872005 453,0782006 450,4772007 546,0272008 546,000

0

150,000

300,000

450,000

600,000

2004 2005 2006 2007 2008

The golf course opened July 2003. Revenue is made up of approximately 88% of the golfers riding in a golf cart. Cart fees were increased in 2007 when a GPS system was installed in the carts.

Forecast: 2009 $545,000 2010 $545,000

Rationale: Forecast based on approximately 88% of the 18-hole equivalent players renting a cart, with no fee increases anticipated.

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Page 63 City of Golden

2009/2010 Biennial Budget

FOSSIL TRACE GOLF CLUB DRIVING RANGE FEES

Distribution: Fossil Trace Golf Course Fund 100%

Source: Golf Course Customers.

Collection: Collected by over-the-counter payments. The fees are collected by the golf course staff and remitted to the Finance Department on a daily basis.

Five Year Trend:

Year Revenue2004 144,1842005 162,1052006 152,1022007 154,3022008 168,000

0

100,000

200,000

300,000

2004 2005 2006 2007 2008

The golf course and driving range opened July 2003. Revenue historically averaged approximately 8.2% of annual green fee revenue. With the fee increase in 2008 and other improvements, the percentage increased to 8.9%.

Forecast: 2009 $175,000 2010 $175,000

Rationale: Forecast based on increased usage due to planned improvements at the driving range (i.e. additional target greens), with no anticipated fee increases.

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Page 64 City of Golden 2009/2010 Biennial Budget

FOSSIL TRACE GOLF CLUB MERCHANDISE SALES

Distribution: Fossil Trace Golf Course Fund 100%

Source: Golf Course Customers.

Collection: Collected by over-the-counter payments. The fees are collected by the golf course staff and remitted to the Finance Department on a daily basis.

Five Year Trend:

Year Revenue2004 313,0282005 332,7132006 393,0462007 431,2722008 405,000

0

150,000

300,000

450,000

600,000

2004 2005 2006 2007 2008

The golf course opened July 2003. Increases in revenue reflect the quality and variety of merchandise available, as well as the popularity of the course.

Forecast: 2009 $410,000 2010 $420,000

Rationale: Forecast based on slightly decreasing sales volume, offset by increases in the cost of merchandise.

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Page 65 City of Golden

2009/2010 Biennial Budget

HIGHWAY USERS TAX REVENUE

Distribution: Capital Programs Fund 100%

Source: Gasoline tax and related fees paid by Colorado motorists.

Collection: The Highway Users Tax Fund (HUTF) is state-collected, locally-shared revenue that is distributed via electronic funds transfer on a monthly basis to the City of Golden in accordance with the following formulas:

(1) Basic Fund --- the first seven cents of gasoline taxes and the base amount of various motor vehicle registration, title and license fees. 9% of these revenues are distributed to municipalities. The basic fund monies may be spent on acquisition of rights-of-way for, and the construction, engineering, safety, reconstruction, improvement, repair, maintenance, and administration of streets, roads and highways.

(2) Supplemental Fund --- 18% of the next eleven cents of gasoline taxes are distributed to municipalities and may be spent only on road improvements including new construction, safety improvements, maintenance and capacity improvements.

(3) 1989 Increase Fund --- 18% of the gasoline tax, registration fee and driver's license fee increases enacted in 1989 are shared with municipalities and can be used for the same purposes designated in (2) above.

(4) 1995 Increase Fund --18% from a three-year phased reduction of the amount previously withheld by the state for administrative purposes which can be used for the same purposes designated in (2) above.

Five Year Trend:

Year Revenue2004 409,3792005 448,2862006 465,8362007 440,1612008 420,000

0

200,000

400,000

600,000

800,000

2004 2005 2006 2007 2008

The distribution has dropped since 2006 due to annexations and growth in other parts of the state creating more sharing of revenue among municipalities and reducing Golden’s proportionate share. Changes in consumption, with rising gas prices and the use of more fuel efficient vehicles also impact Golden’s share.

Forecast: 2009 $409,700 2010 $401,500

Rationale: Forecast anticipates 2% annual decrease to reflect for the ongoing reduction in Golden’s proportionate share from population growth elsewhere in the state.

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Page 66 City of Golden 2009/2010 Biennial Budget

JEFFERSON COUNTY OPEN SPACE SALES TAX SHARED REVENUE

Distribution: Open Space Fund 100%

Source: .5% sales tax paid by citizens and visitors in Jefferson County.

Collection: The State of Colorado collects the sales tax from merchants on behalf of Jefferson County. The State remits to Jefferson County on a monthly basis. Jefferson County allocates Open Space funds between its fund for unincorporated sections of Jefferson County, municipalities, and special parks districts. Funds are received electronically directly to the City’s bank account on a monthly basis.

Five Year Trend:

Year Revenue2004 423,6232005 444,2882006 455,8142007 470,3362008 465,000

0

150,000

300,000

450,000

600,000

2004 2005 2006 2007 2008

Revenues provide funding for parks, trails and open space. Revenues have increased since 2005 due to an improved economy in the County, but is projected to drop slightly in 2008.

Forecast: 2009 $469,650 2010 $474,350

Rationale: Forecast anticipates 1% annual increases, as overall County sales tax revenues are expected to slowly increase.

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Page 67 City of Golden

2009/2010 Biennial Budget

LOTTERY REVENUE

Distribution: Conservation Trust Fund 100%

Source: Customers who buy lottery and lotto tickets.

Collection: Lottery proceeds are collected from retail merchants selling lottery products by the State of Colorado. Municipal lottery proceeds are distributed to municipalities based upon current population estimates prepared by the State Division of Local Governments. Golden’s share is electronically transferred to the City’s depository bank account on December 1, March 1, June 1 and September 1.

Conservation trust funds can only be used for the acquisition, development and maintenance of new park and open space sites or for capital improvements and maintenance of a public site used for recreational purposes.

Five Year Trend:

Year Revenue2004 154,7992005 159,4882006 193,5772007 177,8592008 178,500

0

100,000

200,000

300,000

400,000

2004 2005 2006 2007 2008

As participation in the Lottery has increased, revenues filtered down to the municipalities have also increased, with the City seeing a large increase for 2006. Revenues decreased in 2007 as participation in the Lottery fluctuates and Golden’s population is increasing at a slower rate than the rest of the state.

Forecast: 2009 $180,300 2010 $182,100

Rationale: Forecast anticipates a 1% annual increase to allow for increased population in the City and continued support of the Colorado Lottery.

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Page 68 City of Golden 2009/2010 Biennial Budget

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GEN

ERA

L FUN

D

GENERAL FUND

The City manages all of its activities through various funds with each fund being considered a separate entity with its own set of accounts.

The General Fund is where the City accounts for resources that are traditionally associated withgovernments and which are not required to be accounted for in another fund. The General Fund includes general governmental activities like Police, Fire, Streets, Parks and Outdoor Recreation, and Planning and Development.

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Page 69 City of Golden

2009/2010 Biennial Budget

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Page 70 City of Golden 2009/2010 Biennial Budget

CITY OF GOLDEN 2009 BUDGET

Misc., Interest, Fines, &Permits

8%Charges for Service

9%

General Property Tax22%

Intergovernmental5%

Sales and Use Tax49%

Other Taxes7%

Where it comes from...General Fund revenues:

Planning and Econ. Devel.6%

Public Works17%

General Government20%

Other Exp. & InterfundTransfers

8%

Parks and Recreation11%

Public Safety38%

Where it goes…General Fund expenditures:

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Page 71 City of Golden

2009/2010 Biennial Budget

CITY OF GOLDEN 2010 BUDGET

Misc., Interest, Fines, &Permits

8%

Charges for Service9%

General Property Tax22%

Intergovernmental4%

Sales and Use Tax50%

Other Taxes7%

Where it comes from...General Fund revenues:

Planning and Econ. Devel.5%

Public Works17%

General Government20%

Other Exp. & InterfundTransfers

7%

Parks and Recreation11%

Public Safety40%

Where it goes…General Fund expenditures:

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Page 72 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010GENERAL FUND

DESCRIPTIONACTUAL

2007

AMENDEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PROPOSEDBUDGET

2010

REVENUES:

Taxes 15,378,151 14,878,040 15,579,160 16,340,986 16,796,807Licenses and Permits 399,506 470,000 438,700 403,500 473,500Charges for Service 1,832,234 1,731,280 1,803,580 1,841,474 1,882,642Intergovernmental 894,545 796,900 879,620 893,093 834,213Fines and Forfeitures 417,382 546,100 500,500 507,295 512,338Interest & Miscellaneous 1,002,104 913,345 950,353 837,060 843,597

TOTAL REVENUES 19,923,922 19,335,665 20,151,913 20,823,407 21,343,097

OPERATING EXPENDITURES:

General Government 3,141,530 3,529,190 3,349,197 3,629,886 3,763,173Judicial & Legal 556,409 722,100 570,000 617,882 647,302Planning & Development 1,276,160 1,239,399 1,437,116 1,298,113 1,103,448Public Safety 7,178,298 7,918,002 7,831,827 8,376,740 8,800,434Public Works 3,397,076 3,575,750 3,396,636 3,609,101 3,798,768Parks & Recreation 1,928,013 2,102,685 2,050,954 2,338,042 2,442,039

Subtotal: 17,477,486 19,087,126 18,635,730 19,869,764 20,555,163

OTHER EXPENDITURES:

Transfers to Other Funds 1,139,874 716,400 568,454 894,400 629,600GURA Increment 505,870 468,000 497,800 510,200 522,900Senior Resource Center 14,000 15,000 15,000 18,000 20,000Coors Tech/Fiarmont Fire Rebates - - 210,000 436,800Public Works Admin Building Expense - - 50,000 75,000 -

Subtotal: 1,659,744 1,199,400 1,131,254 1,707,600 1,609,300

TOTAL EXPENDITURES 19,137,230 20,286,526 19,766,984 21,577,364 22,164,463

(Use)/Accumulation of Surplus Funds 786,692 (950,861) 384,930 (753,957) (821,367)

Ending Fund Balance 5,585,200 4,634,339 5,970,130 5,216,173 4,394,807

Fund Balance as % of Expenditures 29.2% 22.8% 30.2% 24.2% 19.8%

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Page 73 City of Golden

2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010GENERAL FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

AMENDEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PROPOSEDBUDGET

2010

REVENUES:

Taxes 14,547,884 15,378,151 14,878,040 15,579,160 16,340,986 16,796,807Licenses and Permits 444,613 399,506 470,000 438,700 403,500 473,500Charges for Service 1,730,051 1,832,234 1,731,280 1,803,580 1,841,474 1,882,642Intergovernmental 985,021 894,545 796,900 879,620 893,093 834,213Fines and Forfeitures 548,197 417,382 546,100 500,500 507,295 512,338Interest & Miscellaneous 981,437 1,002,104 913,345 950,353 837,060 843,597

TOTAL REVENUES 19,237,203 19,923,922 19,335,665 20,151,913 20,823,407 21,343,097

OPERATING EXPENDITURES:

City Council 206,553 241,040 251,175 225,775 210,905 218,591Sustainability - 8,108 100,000 41,548 176,872 202,601Municipal Judge 50,171 46,550 50,300 50,400 54,900 54,900City Attorney 396,121 326,810 460,000 300,000 329,000 347,000City Manager 289,264 324,777 333,250 331,115 358,428 378,346Communications 185,083 195,408 269,500 258,421 324,352 317,044GURA Director 101,179 109,421 114,100 113,944 121,250 128,897City Clerk 178,574 192,582 230,075 221,875 237,552 241,571Human Resources 425,906 465,143 520,270 462,571 550,170 577,818Municipal Court 183,260 183,049 211,800 219,600 233,982 245,402Finance & Administrative Services 897,776 893,784 997,000 976,300 1,066,579 1,114,637Planning & Development 497,363 491,874 592,100 551,450 556,193 584,382Economic Development 620,810 522,278 343,975 554,842 301,920 154,066Community Marketing Program 301,103 262,008 303,324 303,324 310,000 325,000Community Visioning - - - - 95,000 40,000Museums 244,941 256,260 263,000 263,000 235,000 235,000Public Works Admin & Engineering 1,077,036 1,180,014 1,230,550 1,244,032 1,287,817 1,340,974Public Works Streets 1,698,083 1,875,261 1,745,200 1,736,056 1,844,412 1,955,192Highway Corridor Project 392,349 333,693 500,000 375,000 300,000 300,000Police Admin & Communication 1,938,371 1,973,155 2,179,200 2,147,840 2,256,867 2,361,683Police Operations 4,056,344 4,011,485 4,415,300 4,360,602 4,637,313 4,881,657Fire 1,017,534 1,193,304 1,318,502 1,323,385 1,472,560 1,549,095Parks & Recreation Administration 410,946 368,373 455,625 445,171 491,565 515,551Outdoor Recreation 300,773 296,001 323,200 310,623 325,168 340,426Parks 1,009,911 993,734 1,034,050 1,007,271 1,194,974 1,250,728Forestry 156,456 179,109 178,900 182,150 193,548 201,657RV Park 93,389 90,796 110,910 105,739 132,787 133,678Municipal Facilities 278,397 299,615 384,320 329,696 359,150 384,769Emergency Operations Center 4,403 354 5,000 - 10,000 8,000Property & Liability Premium 165,000 163,500 166,500 166,500 166,500 166,500

Subtotal: 17,177,096 17,477,486 19,087,126 18,608,230 19,834,764 20,555,163

OTHER EXPENDITURES:

Med Benefits Cash Infusion - 30% - - - - 279,800 -Transfers to Other Funds 594,055 1,139,874 716,400 568,454 614,600 629,600GURA Increment 446,316 505,870 468,000 497,800 510,200 522,900Senior Resource Center - 14,000 15,000 15,000 18,000 20,000CoorTech/Fairmount Fire Rebates - - - - 210,000 436,800Public Works Admin Building - - - 50,000 75,000 -

Subtotal: 1,040,371 1,659,744 1,199,400 1,131,254 1,707,600 1,609,300

TOTAL EXPENDITURES 18,217,467 19,137,230 20,286,526 19,739,484 21,542,364 22,164,463

(Use)/Accumulation of Surplus Funds 1,019,736 786,692 (950,861) 412,430 (718,957) (821,367)

ENDING FUND BALANCE 4,798,508 5,585,200 4,634,339 5,997,630 5,278,673 4,457,307

Fund Balance as % of Expenditures 26.3% 29.2% 22.8% 30.4% 24.5% 20.1%

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Page 74 City of Golden 2009/2010 Biennial Budget

GENERAL FUNDREVENUES

Account DescriptionActual2006

Actual2007

RevisedBudget

2008

ProjectedActual2008

ProposedBudget

2009

ProposedBudget

2010

TAXES

General Property Tax $3,709,481 $3,739,305 $4,100,000 $3,960,000 $4,510,000 $4,690,000Sales Tax 6,888,391 7,159,087 7,067,740 7,373,860 7,558,206 7,747,161Auto Ownership Tax 336,892 364,933 360,000 360,000 360,000 360,000Building Use Tax 441,579 413,616 417,300 417,300 410,000 420,250Xcel Energy Franchise Tax 784,880 769,477 790,000 800,000 820,000 840,500Telephone Occup. Tax 57,418 58,329 58,000 58,000 58,580 59,166Cable Franchise Fee 149,628 160,882 155,000 170,000 171,700 173,417Use Tax 1,792,571 2,310,451 1,650,000 2,100,000 2,152,500 2,206,313Sales & Use Tax Audits 414,800 413,630 300,000 360,000 320,000 320,000Sales Tax Refunds (27,756) (11,559) (20,000) (20,000) (20,000) (20,000)

Subtotal-Taxes 14,547,884 15,378,151 14,878,040 15,579,160 16,340,986 16,796,807

LICENSE/PERMITSSales/Use License 47,935 18,456 50,000 50,000 15,000 50,000Liquor/Cabaret License 11,983 10,349 10,000 10,000 10,000 10,000Amusement License 4,500 4,500 4,200 4,200 4,200 4,200Miscellaneous License 1,010 1,240 1,000 1,200 1,000 1,000Building Permits 355,909 341,550 384,000 350,000 350,000 385,000Special Event Liquor Permits 900 675 800 800 800 800Miscellaneous permits 18,371 19,041 16,000 18,500 18,500 18,500Special Event Permits 4,005 3,695 4,000 4,000 4,000 4,000

Subtotal-License/Permits 444,613 399,506 470,000 438,700 403,500 473,500

CHARGES FOR SERVICEZoning/Subd. Fees 25,119 25,822 20,400 22,000 22,000 22,220Police Service Fees 7,339 7,062 7,000 7,000 7,000 7,000Fire Service Contracts 264,158 261,052 264,200 264,160 256,400 256,400Per Call Fire Fees 12,392 25,461 12,000 12,000 12,000 12,000Contractor Fees 21,770 23,625 20,000 21,000 21,000 21,000Elevator Inspection Fees 15,260 16,240 18,000 15,540 15,540 15,540Outdoor Recreation Fees 138,239 150,069 138,000 150,000 151,500 153,015Campground Fees 233,757 230,383 225,000 232,000 250,000 250,000Concessions 54 - - - - - Tree Sales 8,247 28,304 8,200 12,600 10,000 10,000Plan Check Fees 203,886 201,864 160,000 200,000 200,000 200,000Batting Cage 11,420 9,596 10,700 11,000 10,700 10,700Park Pavilion Rental 16,245 16,777 16,000 16,500 16,000 16,000Grampsas Program Fees 56,725 88,379 62,000 68,000 62,000 62,000Grampsas Pavilion Rental 13,540 19,940 16,000 18,000 16,000 16,000Utility Service Fees 576,000 622,000 637,000 637,000 668,850 702,293GDGID Fees 2,700 2,700 2,700 2,700 2,700 2,700Splash & Fossil Trace Service Fee 80,800 84,840 89,080 89,080 93,534 98,211Drainage O&M 42,400 18,120 25,000 25,000 26,250 27,563

Subtotal-Charges for Service $1,730,051 $1,832,234 $1,731,280 $1,803,580 $1,841,474 $1,882,642

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Page 75 City of Golden

2009/2010 Biennial Budget

GENERAL FUNDREVENUES

Account DescriptionActual2006

Actual2007

RevisedBudget

2008

ProjectedActual2008

ProposedBudget

2009

ProposedBudget

2010

INTERGOVERNMENTALCigarette Tax 158,304 139,160 136,400 150,000 147,000 144,060County Road/Bridge 387,178 403,951 409,700 409,700 419,943 430,441Vehicle Reg. Fees 55,574 57,605 58,000 58,000 58,000 58,000FEMA Grant 3,996 33,827 35,000 57,000 45,000 46,500Transportation Demand Mgmt Grant - 6,250 - - - - Severance Tax 2,821 9,350 2,800 2,800 2,800 2,800Misc Grants 30,829 1,160 15,000 - - - L.E.A.F. Grant (a) - 20,000 20,000 35,000 - - COPS FAST Grant 120,490 13,567 - - - - Historic Grants - - - - - - COPS SRO Grant 28,405 - - - - - Orton Grant - - - - 70,000 30,000Police Traffic Safety Grant 62,424 24,590 - - - - State of Co & Other Grants - 7,653 - - - - State of CO/Federal Grants - 63,658 - 20,850 29,150 - State / County Gaming Grant 135,000 113,774 120,000 146,270 121,200 122,412

Subtotal-Intergovernmental 985,021 894,545 796,900 879,620 893,093 834,213

FINES/FORFEITURESCourt Fines 236,586 165,749 219,300 180,000 182,000 183,820Traffic Fines 191,699 151,036 207,100 207,100 209,171 211,263Animal Control Fines 3,255 2,100 4,000 2,000 2,000 2,000Penal Code Fines 24,434 21,100 22,400 22,400 22,624 22,850Other Fines 950 535 1,500 1,000 1,000 1,000Traffic Admin Fee 39,750 38,899 38,800 50,000 50,500 51,005Court Costs 51,523 37,963 53,000 38,000 40,000 40,400

Subtotal-Fines/Forfeitures 548,197 417,382 546,100 500,500 507,295 512,338

MISCELLANEOUSSales/Use Tax Penalties 20,416 12,830 24,000 15,000 15,000 15,000Sales/Use Tax Vendors Fees 262,566 273,421 268,600 280,207 287,212 294,392Miscellaneous Revenue 103,757 32,176 80,000 80,000 80,000 80,000Interest 263,516 298,465 210,000 210,000 138,411 129,425Shelter Advertising Revenue - 10,725 - - - -Property Room Revenue - 3,843 - - - -Logo Royalties - 78 - - - -GURA Dwntn Service Fee (b) 56,361 61,581 49,600 49,600 52,080 54,684GURA Director Reimbursement (b) 91,046 96,448 107,445 108,247 118,308 122,452GURA Loan (b) - - - - - -GURA Econ Development Reinvestment - 35,000 40,000 30,000 - -Donations 8,839 26,089 5,000 5,000 5,000 5,000Passport Fees 3,344 7,830 3,200 7,000 7,000 6,500GIS Mapping Revenue - 644 - - - -Off Duty Pay 17,762 7,549 25,200 10,000 12,000 12,300Accident Reports 1,089 1,511 2,000 2,000 2,000 2,000Street Cut Patches 40,041 64,874 20,000 75,000 40,000 40,000Rooney Road Parks Reimbursement - 9,440 - - - -Transfer from Open Space 50,000 51,300 70,000 70,000 71,750 73,544Transfer from Medical Benefits 62,700 8,300 8,300 8,300 8,300 8,300

Subtotal-Miscellaneous 981,437 1,002,104 913,345 950,353 837,060 843,597

TOTAL $19,237,203 $19,923,922 $19,335,665 $20,151,913 $20,823,407 $21,343,097

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Page 76 City of Golden 2009/2010 Biennial Budget

CITY COUNCILAs established by City Charter, the Golden City Council is the legislative and governing body of the City and may exercise all powers conferred upon and possessed by the City, except those otherwise restricted by the Charter or by statute. The Council may also adopt such laws, ordinances and resolutions as it deems proper. There are seven members of the City Council: four elected from wards, two elected from districts (each district is composed of two wards), and the Mayor is elected at-large. In November 2009, the City of Golden will hold a regular election to elect four ward Councilors.

City Council sets the direction for the City and decides all policy matters. Council appoints the Municipal Attorney, the Municipal Judge and the City Manager. City Council meets in formal sessions at 7:00 p.m. on the second and fourth Thursdays of each month, and in study sessions at 7:00pm on the first and third Thursday each month, unless otherwise posted.

2009-2010 GOLDEN CITY COUNCIL

Part-timeCity Council 7

CITY COUNCIL

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 69,857$ 72,470$ 104,600$ 109,100$ 114,595$Supplies & Services 136,696 168,570 121,175 101,805 103,996

TOTAL 206,553$ 241,040$ 225,775$ 210,905$ 218,591$

Citizens of Golden

Mary Weaver Ward One

1/2010

Joe Behm Ward Two

1/2010

Diane Chesbro Ward Three

1/2010

Jacob Smith Mayor 1/2012

Karen OxmanDistrict Two

1/2012

Marjorie Sloan District One

1/2012

Bill Fisher Ward Four

1/2010

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Page 77 City of Golden

2009/2010 Biennial Budget

City Council - Performance Measures

Actual2007

Projected2008

Projected2009

Projected2010

Formal Council Meetings 24 24 24 24

Study Sessions and Retreats 19 20 20 20

Meetings with Chamber of Commerce 0 0 2 2

Meetings with Boards and Commissions 7 12 12 12

Meetings with Coors Executives 1 0 2 2

Neighborhood Meetings and Socials 0 3 3 3

Ward Meetings 4 4 4 4

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Page 78 City of Golden 2009/2010 Biennial Budget

CITY ATTORNEY The City Attorney is appointed by the Golden City Council. The City Attorney reports directly to the City Council and serves at its pleasure. Although the City Attorney does not report to the City Manager, the City Attorney serves as an integral member of the City’s Management Team. The City Attorney is not an employee of the City but an independent firm under contract on a fee-for-service basis. Members of his firm serve as the Municipal Prosecutor and provide other legal support to the City Departments.

Dave Williamson, City Attorney Williamson & Hayashi, LLC

1650 38th Street, Suite 103 West. Boulder, CO 80301 Phone 303-443-3100 Fax 303-443-7835

SPECIAL COUNSEL

The City Council employs special counsel to provide specialized legal services for water rights paid by the Water Fund and not out of this division. See Water Fund legal fees for more information.

Glenn Porzak Porzak, Browning & Johnson

929 Pearl St., Suite #300 Boulder, CO 80302 Phone 303-443-6800 Fax 303-443-6864

The City employs Kaplan, Kirsch & Rockwell, L.L.P., to provide specialized legal services regarding the Northwest Corridor Environmental Impact Statement Study.

Stephen H. Kaplan Kaplan, Kirsch & Rockwell L.L.P.

1675 Broadway, Suite 2300 Denver, Colorado 80202

Phone (303) 825-7000 Fax (303) 825-7005

The City also contracts with specialists for other legal services from time to time.

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Page 79 City of Golden

2009/2010 Biennial Budget

CITY ATTORNEY

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Professional Services 232,349$ 229,975$ 250,000$ 275,000$ 290,000$Prosecuting Attorney 45,182 46,871 50,000 54,000 57,000Tower Litigation 118,590 49,964

TOTAL 396,121$ 326,810$ 300,000$ 329,000$ 347,000$

MUNICIPAL JUDGE

The Municipal Judge is appointed by the Golden City Council, which reinforces the independence of the Judge. The Municipal Judge is not under the direct supervision of the City Manager's Office. The Municipal Judge is not a City employee. The Municipal Court budget provides administrative employees and other support for the Municipal Judge. Section 9.2 of the City Charter established the Municipal Court and states that "the Municipal Judge . . . shall serve at the pleasure of Council . . . and shall receive a fixed salary for compensation set by Council which salary compensation shall not be dependent upon the outcome of the matters to be decided by the Municipal Judge."

MUNICIPAL JUDGE

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Professional Services 50,071$ 46,450$ 50,300$ 54,800$ 54,800$Workers Comp. 100 100 100 100 100

TOTAL 50,171$ 46,550$ 50,400$ 54,900$ 54,900$

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Page 80 City of Golden 2009/2010 Biennial Budget

CITY MANAGER’S OFFICEChapter VII of the Golden City Charter establishes the office of City Manager to be the "Chief Executive and Administrative Officer of the City." The City Manager reports to the City Council; all City employees report to the City Manager. The City Manager is responsible for the proper administration of all City affairs as established by the Council, and is given the power and duty to enforce all City laws and ordinances; hire, suspend, transfer and remove City employees; prepare annual budgets and be responsible for their administration; provide Council with financial reports and report on the future needs of the City; organize and supervise administrative departments; enforce any City contracts; attend Council meetings and participate in discussions; and any other necessary duties that are "not inconsistent" with the Charter.

Full-time City Manager 1 Administrative Assistant 1

2009-2010 Goals

Complete staff sustainability strategic plans Hold quarterly all-staff meetings. Closely monitor the financial position of the City Fully support Golden Visioning Project.

Citizens of Golden

AdministrativeAssistant

City Manager

City Council

Human Resources Fire

PubicWorks

Finance and

Admin. Services

City Clerk

Parks and Recreation

Planningand

Development

CommunicationsOffice Police

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Page 81 City of Golden

2009/2010 Biennial Budget

CITY MANAGER'S OFFICE

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 249,816$ 268,638$ 279,495$ 301,373$ 319,758$Supplies & Services 39,200 56,139 50,920 56,555 58,088Office Furn/Equipment 248 700 500 500

TOTAL 289,264$ 324,777$ 331,115$ 358,428$ 378,346$

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Page 82 City of Golden 2009/2010 Biennial Budget

GURA DIRECTOR’S OFFICE

In 2004, the City and the Golden Urban Renewal Authority (GURA) negotiated a Memorandum of Understanding (MOU), which provides that the GURA Executive Director will be a City employee reporting to the City Manager. Under the MOU the City Manager agrees to share supervisory authority with the GURA Board. This agreement not only allowed GURA to attract top-quality candidates for the position, but is producing much closer cooperation between the Authority and the City. Unless modified by subsequent agreement, the Authority will reimburse the City no more than 95% of the total salary and benefits costs of the Executive Director. The remaining 5% or more will be paid from the City’s General Fund so that a portion of the Executive Director’s time is available to help with city-wide economic development and sustainability initiative. Under a previous IGA, GURA submits its annual budget for City Council review.

GURA DIRECTOR'S OFFICE

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 101,176$ 104,401$ 113,944$ 121,250$ 128,897$Supplies & Services 3 5,020

TOTAL 101,179$ 109,421$ 113,944$ 121,250$ 128,897$

Full-time Exempt GURA Director 1

2009-2010 Goals

Fully implement the GURA work plan which includes:

Preparations and studies necessary to create additional urban renewal districts in the neighborhoods of 24th Street & Ford Street, and at Water Street & 10th Streets; Implementation of façade improvement program on Washington Avenue; A variety of business attraction and retention programming including energy efficiency, e-commerce, and training grant programs; Improvement of 13th Street between Ford Street and Washington Avenue.; Redevelopment of Lot 2 and 4 book-ending the Gateway Station Parking Garage; Various other projects as described in further detail at www.gura.com.

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Page 84 City of Golden 2009/2010 Biennial Budget

COMMUNICATIONS OFFICEOverview:

The Communications Office is a division of the City Manager’s Office responsible for working with City Council and other City departments, as well as Golden citizens, businesses and other public sector organizations to provide information about and promote Golden City government, services and programs.

Full-time Communications Manager 1

Executive Intern 1

Part-time Graphic Designer 1 TV Production Technician 1

The Communications Office strives to serve in a proactive role as often as possible, while responding reactively as necessary to unforeseen situations that may arise. Recognizing that Golden citizens are busy and have limited time for government, the City Communications Office philosophy is to provide a hands-on, accessible approach to communications by establishing publications and implementing programs that provide citizens with varied venues of interaction opportunities.

In an effort to communicate as broadly as possible, the Communications Office provides a range of services in communications, marketing, public relations, citizen outreach programs and production of publications. City-wide communications efforts may include activities such as writing press releases, generating positive publicity, producing newsletters and postcards, answering media questions, acting as Public Information Officer (especially on-scene at emergencies), posting information on the City’s Web site, coordinating special events permitting, contributing to strategy development, coordinating public involvement, marketing, and otherwise establishing and maintaining a consistent, positive and effective City-wide image and message.

Objectives:

The Communications Office strives to provide information about and promote Golden City government, services and programs, and to establish and maintain a consistent, positive and effective City-wide image and message. The primary goal is to provide the public with accurate

City Manager’s Office

Communications Office

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information for them to be adequately informed, and to receive public input in a manner that enables City government to be responsive to its public.

Accomplishments:

In 2008, the Communications Office saw a great deal of change in staffing and skill sets. Many of the changes resulted in significant savings to the City and a greater sense of ownership through an increase in self-sufficiency.

A new Communications Manager was hired late in the year after Sabrina D’Agosta resigned. The transition occurred at a time when two sensitive issues were being discussed by City Council. Numerous press releases and media interviews were conducted in relation to the Pioneer Museum lawsuit and the holiday light display resolution. Feedback on how the controversies were handled, much of which has come from outside agencies and communities, has been positive.

A part-time graphic designer position was added to the department which allowed the City to develop publications and products in house at a significant savings. Through the expertise of the designer, many cost savings measures were put into place which saved the City thousands of dollars in printing, production, design and mailing costs. The graphic designer has also played an instrumental role in developing more consistent branding and imaging for the City. This includes business cards for city employees, letterhead, signage for city buildings and a new recreation guide which is produced three times a year.

A television production technician was also added to the department to assist with the installation and integration of a new internet broadcast system for broadcasting City Council meetings. The Granicus system was purchased and installed allowing for a more expedited delivery of council meetings to the website. In addition to supporting taped and live broadcast of City Council meetings, the system allows citizens to click on the portion of the meeting they are interested in and watch it almost instantly. The production technician position has been directly responsible for the continued improvement of the audio and video quality of meeting broadcasts. Other departments have utilized this position for video projects which otherwise would have been contracted to outside vendors. The investments in new equipment and a part-time staff position have already created significant savings when you compare the costs to contracting the position and renting equipment as needed.

An executive intern was also placed within the Communications Department. While this position does not work solely for the Communications Department, the position has proven effective in working through awards applications, contract issues resulting from the changes in museum management and assisting with the continued development of the City’s sustainability project. This is in addition to the time spent writing and researching articles for the Informer. The City of Golden is responsible for half of the position’s salary while the remaining balance is sponsored through a grant from the Department of Local Affairs. Participants in the program are part of the “Best & Brightest” program at C.U. Denver’s New Horizons Program.

The addition of each of these positions has greatly expanded the skills and resources available to other departments. By having such talented individuals on staff will allow us to expand our role within the City while cutting costs.

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Page 86 City of Golden 2009/2010 Biennial Budget

2009 Goals:

The addition of new personnel in the Communications Department will provide an opportunity to evaluate how the existing platforms are utilized by the City and to consider developing new ways to expand our communication opportunities both within the community and outside. To support this effort we have adopted the following goals:

Create a city-wide annual report documenting the successes of each department More actively add content to the City website and update older/out dated elements Develop a more cohesive and detailed communication plan with Golden Police PIO and the Golden Fire Department Continue to be pro-active in communicating with citizens about beltway updates, FastTracks plans and City finances Work with community organizations such as GURA, EDComm and the Golden Chamber of Commerce to find new ways of promoting the City Aggressively promote the City’s success especially within the realm of financial health and stability Become more involved in the development of an emergency management plan Upgrade the part-time graphic designer position to a full-time position and expand the hours and use of the television production technician position to include more event promotion on the website

2010 Goals:

Assuming the 2009 goals are accomplished and the Communications Office is functioning with a centralized staff responsible for all City-wide communications, the following goals would be established for 2010:

Upgrade the Informer to a four-color scheme Create new events/improve existing events to encourage citizen participation in local government and gather input

COMMUNICATIONS OFFICE BUDGET

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 80,116$ 84,902$ 128,754$ 168,245$ 178,373$Supplies & Services 102,598 107,732 127,667 153,107 138,671Office Furn/Equipment 2,369 2,774 2,000 3,000

TOTAL 185,083$ 195,408$ 258,421$ 324,352$ 317,044$

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Performance Measures

While the number of publications produced and events organized by the Communications Office may be an effective measure of the workload handled by the department, it doesn’t necessarily calibrate the quality and effectiveness of that communication. The Communications Office has established qualitative performance measures in the bulleted list that follows, which also will be used to determine its effectiveness in coming years.

Quantitative Measures:

Actual2007

Projected2008

Projected2009

Projected2010

City-Wide Newsletter The Golden Informer 12 issues 12 issues 12 issues 12 issues

Total Special Events Permitted 43 34 40 40 Press releases written 83 60 70 75 Positive publicity generated (outside local paper) ?* ?* 25 30

Concerts in the Park attendance (average of each concert) 450 387 475 500

* Difficult to obtain due to the new Communications Manager starting in November of 2008.

Qualitative:

Success of efforts to improve communication between departments with the focus on a more pro-active approach to releasing information Increase in positive publicity published in news media as a result of efforts by the Communications office, whether from press releases or stronger relationships with reporters Increase in professionalism and consistency of City publications with a continued push for better quality, formatting and appearance

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Page 88 City of Golden 2009/2010 Biennial Budget

CITY CLERK’S OFFICE

Section 7.6 of the Golden City Charter establishes the position of City Clerk and says "the Manager with the approval of Council shall appoint a City Clerk, who shall be custodian of the City seal and who shall keep a journal of Council proceedings and record in full all ordinances, motions, and resolutions. He shall have the power to administer oaths and take acknowledgments under seal of the City and shall perform such other duties as required by this Charter, the Council, and the City Manager." The City Clerk attends all formal Council meetings and study sessions, prepares the final agendas, prepares informational materials and takes minutes. The Clerk also conducts City elections; assists interested citizens with the initiative and referendum process; is the City Records Manager; maintains the central records of the City; codifies ordinances and posts them on the City Web site; administers liquor licenses, special events liquor permits, coin-operated amusement machine licenses, and other miscellaneous licenses, which includes processing new applications, changes and renewals. In January 2001, the Local Licensing Authority was formed to handle liquor licensing matters. The City Clerk’s office serves as secretary to the authority, prepares its agenda and information materials, attends all meetings and keeps its records. The City Clerk has extensive contact with the public to provide an information conduit regarding Council agenda items, open records requests, election information and general information about the City.

In November 2009, the City of Golden will hold a regular election to elect the four ward councilors.

Full-time Part-time

City Clerk 1 Deputy City Clerk 1

Records Clerk 1

City Manager

City Clerk

Deputy City Clerk

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2009 Goals

Streamline minutes process using GranicusDevelop new records management manualConduct records management/retention training.Continue to organize and enter data into document management system to track location, retention and destruction of records according to records retention schedules.Oversee and assist in purging all files according to records retention schedules, City-wide.Continue to codify ordinances and post them on the City Web site in a timely manner.

2010 Goals

Records management/retention training as needed.Continue to organize and enter date into document management system to track location, retention and destruction of records according to records retention schedules.Oversee and assist in purging all files according to records retention schedules citywide.Continue to codify ordinances and post them on the City Web site in a timely manner.

CITY CLERK’S OFFICE

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits $ 144,653 153,422$ 167,700$ 190,285$ 201,131$Supplies & Services 33,323 39,160 54,175 46,767 40,440Office Furn/Equip. 598 500

TOTAL 178,574$ 192,582$ 221,875$ 237,552$ 241,571$

Performance Measures 2009-2010

Draft council minutes are available on the Web by Wednesday following meeting. Ordinances are codified and posted to the Web within two days after effective date. Provide training using new records manual. Appropriate documents are scanned into LaserFiche within one week of signature. Data is organized and entered into document management system in order to track location, retention and destruction of records according to records retention schedules. To verify this is done, there will be a monthly check. Every six months, files will be purged according to records retention schedules City-wide.

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Page 90 City of Golden 2009/2010 Biennial Budget

HUMAN RESOURCES DEPARTMENTThe Human Resource Department's mission is to enhance the value and productivity of the City's most valuable asset - its employees - through effective human resource practices. The Department provides personnel and career-related services, including, but not limited to: recruitment and selection, compensation and benefits administration, training and development, employee education programs, safety, counseling and corrective performance activities, performance management, employee wellness, and employee recognition.

The role and philosophy of the Department are interactive. Supervisory and managerial staffs receive ongoing training and counseling on human resource practices. This provides a solid foundation and comprehensive approach to the management of our employees. Employee interaction is valued and emphasized through the use of employee committees, including Benefits, Safety, Retirement and Employee Recognition Committees. These committees focus on ongoing evaluation and improvement recommendations to the organization and human resource programs.

Ongoing employee educational opportunities including financial seminars, personal wellness seminars, and employee correspondence continue to make the City of Golden an employer of choice.

Full-time

Human Resource Director 1 HR Technician 1 HR Analyst 1 HR Administrative Assistant .5

2008 Accomplishments

The Employee Handbook and Guidelines was revised and distributed to all employees in January.Completed the first Employee Opinion survey. Results were overwhelmingly positive and reflect the Golden is a great place to work.Participation in the wellness program increased to over 72% for eligible employees and volunteers. Participants in the wellness program received a premium discount on the City of Golden medical plan. We continue of offer a variety of well attended employee lunch-and-learn sessions in conjunction with the wellness program to better educate employees on financial, personal, and family wellness and lifestyle issues.

City Manager

Human Resources Director

Human Resources Technician

Human Resources Analyst

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A part-time Health & Safety Officer was hired this year to assist with city wide health and safety programs. This position will pay for itself thru increased safety awareness and reduced property and workers compensation claims. We continue to refine our recruitment hiring practices with the use of innovative methods to hire only the best candidates. Pre-screen questionnaires are now offered for many of our seasonal and full-time opportunities thus allowing supervisors more information in the application review process.Business, computer, and safety training resources were made available to employees at all levels to enhance both personnel and professional level skills.

2009 Goals

Develop and implement Supervisory Training Curriculum for all supervisory staff. Focus on areas of improvement identified in the Employee Opinion survey to further enhance the work experience. City-wide MS Office transition training. Offer employees and spouses a series of personal educational financial seminars including basic budgeting, money management, investing, and estate planning to assist with the current economic market conditions. Completion of My Space and Face Book pages for greater recruitment opportunities.

2010 Goals

Continue to find innovative ideas and processes in the areas of recruitment, compensa6tion and benefits.Continue to focus on health care costs to maintain quality of care at an affordable cost.

HUMAN RESOURCES DEPARTMENT

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 322,097$ 292,740$ 305,171$ 342,470$ 358,663$Supplies & Services 103,634 171,394 156,900 204,200 218,655Office Furn./Equip. 175 1,009 500 3,500 500

TOTAL 425,906$ 465,143$ 462,571$ 550,170$ 577,818$

Salaries & Benefits include some benefits that are not Department specific to Human Resources and which benefit employees City-wide (i.e., tuition reimbursement).

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Page 92 City of Golden 2009/2010 Biennial Budget

Performance Measures

Actual2008

Projected2009

Projected2010

Wellness Participation Full-time Volunteer Fire Level 2 part-time

1391610

1503010

1753510

Workers’ Comp. Claims Employees Volunteer Fire Fighters Paid Medical Claims Costs

378

$118.831

325

$120,000

305

$120,000

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Page 94 City of Golden 2009/2010 Biennial Budget

FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT

The Finance and Administrative Services Department encompasses the activities of the City's Finance, Information Technology and Municipal Court Divisions. The Department is headed by the Finance and Administrative Services Director.

The Finance Division is responsible for all accounting, investment, budgeting and cash management functions of the City. In addition, the Finance Division administers utility billing, sales and use tax collection, audits, and general cashiering functions.

The Administrative Services Division provides administrative and operating support to the City's Municipal Court. The Municipal Court is vested with jurisdiction of all cases arising under the City’s ordinances. A Council-appointed Judge presides over the Municipal Court.

The Information Technology Division is responsible for a broad spectrum of services, including analyzing and researching long-term technology needs of the City, development and implementation of solutions to satisfy those needs, and maintaining the City's technological infrastructure. (Information Technology Division detail is presented as part of the Internal Service Funds section of the budget)

Fleet Management Division is responsible for the maintenance, repair and replacement of all City vehicles and equipment. Its mission is to provide the most cost-effective, safest vehicles and equipment; equip as needed; ensuring top employee production to all City of Golden departments and divisions. (Fleet Management Division detail is presented as part of the Internal Service Funds section of the budget)

General Fund Internal Service Fund

City Manager

Finance and Administrative

Services Director

InformationTechnology

MunicipalCourt

Finance FleetManagement

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FINANCE DIVISION

The Finance Division has custody of all public monies belonging to or under the control of the City, and invests all money as directed by resolution of the Council and in conformance with the City's investment policy. The division also collects, deposits and disburses, upon proper authorization, all monies received by the City. The Finance Division also administers utility billing, sales and use tax collection, audits, and general cashiering functions. The office is also responsible for providing financial management policy recommendations and solutions to the City Manager and City Council in order to preserve the long-term financial health of the City. The Finance Division is required to provide accurate, relevant and timely reports to management, Council and citizens regarding the financial activities of the City and the impact of financial decisions.

Full-time Part-timeFinance and Admin. Service Director 1Finance Division 8 1

Municipal Court Division 3Information Technology Division 6

Fleet Management Division 4

22 1

Receptionist Sales Tax Technician

Payroll Sales Tax Auditor (2)

UtilityBilling

CashierAccountsPayable

AccountingManager

Finance and Administrative

Services Director

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Page 96 City of Golden 2009/2010 Biennial Budget

2008 Accomplishments

Continued expansion of Purchasing Card program to allow for more flexibility and security. All sales and use tax licenses renewal forms were sent out prior to December 1, 2008. An internal audit program for City departments was developed and implemented. Increased sales and use tax compliance audits which resulted in an increase in audit revenue. Completed training of all new members of the finance team.

2009 Goals

Upgrade the existing accounting software to a web-based version where applicable.Continue to develop/update procedure manuals for all positions within finance.Continue to develop e-government to enable utility billing and sales tax remittance online.Complete CAFR (Comprehensive Annual Financial Report) by required due date and obtain GFOA (Government Finance Officers Association) award.Distribute biennial budget by Jan. 1 and receive a Distinguished Presentation Award from GFOA for biennial budget. Continue to encourage increased usage of purchasing cards and decreased usage of field checks. Support employee development through ongoing educational opportunities and assist employees in maintaining existing certifications.Ensure vendors get paid timely to obtain discounts when offered and to avoid late fees.Continue to process payroll in a manner that employees are paid on time, 100% of the time.Ensure utility bills are distributed in a timely manner.

2010 Goals

Continue to upgrade existing accounting software as new modules become available. Evaluate upgraded software to determine if new software is necessary. If new software is

necessary, research potential vendors and prepare RFP for distribution. Train employees on new software system. Distribute updated 2010 budget information by Jan. 1.

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Account Description Actual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 588,936$ 615,319$ 675,900$ 746,200$ 790,157$Supplies & Services 308,151 275,057 300,400 319,379 323,980Office Furn./Equip. 689 3,408 1,000 500

TOTAL 897,776$ 893,784$ 976,300$ 1,066,579$ 1,114,637$

Finance – Performance Measures

Actual2007

Projected2008

Projected2009

Projected2010

Field Checks Processed 80 80 75 75

Purchasing Card Processing

Transactions Total Dollar Amount

8,210$3,497,603

8,250$3,500,000

8,300$3,500,000

8,300$3,500,000

Sales & Use Tax Audits

Total Audits Total Audit Revenue Average Revenue Per Audit

75$620,414$8,272

62$540,000

$8,710

50$480,000

$9,600

50$480,000

$9,600

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Page 98 City of Golden 2009/2010 Biennial Budget

MUNICIPAL COURTThe Municipal Court is unique in that it consists of two distinct entities. The judicial functions and case control fall under the direction of the Municipal Court Judge. The Municipal Judge is appointed by City Council, which sets the Judge's salary. Following appointment, the Judge is autonomous. Because the position of Judge is part-time in nature, the Court Administrator reports to a variety of officials. While the Judge is the recognized head of the court in most jurisdictions, the Golden court staff is employed by the City and is subordinate to the Administrative Services/Finance Department. Employees of the Municipal Court, like other City employees, are service based. It is critical that court staff is knowledgeable in laws and procedures of the court and the application to each individual case.

The Municipal Court does not initiate its work; the work product is generated by other City Departments, primarily the Police Department, and to a lesser degree, Colorado School of Mines Department of Public Safety.

The Court has HTE case management software, which interfaces with the Police Department software, allowing the Court to provide efficient case tracking.

Full-timeCourt Administrator 1 Court Clerks 2

City Council

City Manager

Municipal Judge

Finance and Administrative

Services Director

Court Administrator

Court Clerk (2)

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2008 Accomplishments

The Court has gone through many transitions over the 2008 budget year: Utilized temporary employee to ensure that data entry and court duties were maintained while hiring new staff.

Hiring of a two new Court Clerks Training of new staff and developing tools for them to use to complete duties.

Assured dignified and fair treatment to all and promoted respect for the justice system. Provided a high level of customer service to everyone who had business with the Court. Processed cases in an accurate and timely manner. Court Administrator assisted in the redesign of the citation developed in 2007 to include a section in Spanish on the back of the citation for our Spanish speaking customers. Continual updating of the procedural handbook, which contains important information as to Court procedures and legislation.Expanded on the use of the computer system and made many changes to improve how the system is used. Many new DMS forms now connected to case management system. Use of the Language Line to streamline use of interpreters; provide better service to our customers and lower costs. Streamlined many processes and continue to look for ways to save on waste of paper. Continued development of documents in the HTE system using the DMS Module. Continued process of maintaining all of our closed files after 2006 in the Laserfiche computer program for retention purposes. This enables the Court to maintain their retention records in a safe environment with the ability to retrieve information whenever needed. Reviewed retention schedule that the City adopted in 2005 and adjusted to a few new changes. Reviewed all 2003 cases and prepared for confidential destruction.Recycled all 2003 file folders and made available to other departments in the city.

2009 Goals

Assure dignified and fair treatment to all and promote respect for the justice system. Provide a high level of customer service to everyone who has business with the Court. Continue timely and accurate processing of all cases. Continuing education and training for full-time Court Clerks in all aspects of the Court. Participate in Court related trainings offered through the Colorado Association for Municipal Court Administration. Participate in Court related trainings offered trough the National Association for Court Management. Implement procedures to reduce as much excess paperwork as feasible. Continued use and development of the HTE computer software and DMS module in order to streamline work, continued effort to develop the program enough to use the system real-time with the judge in the Courtroom. Streamline and update Court procedures to decrease redundancies. Continue to enhance the technical skills and expertise of Court staff. Promote teamwork and communication among Court staff.

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MUNICIPAL COURT

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 149,480$ 145,158$ 179,200$ 189,585$ 203,901$Supplies & Services 33,780 37,155 39,400 44,397 41,001Office Furn./Equip. 736 1,000 500

TOTAL 183,260$ 183,049$ 219,600$ 233,982$ 245,402$

Performance Measures

Maintain Clearance Rates at a minimum of 95%

Actual2007

Projected2008

Projected2009

Projected2010

Case Load Clearance Rates:

Total Incoming Cases Total Outgoing Cases Clearance Rates*

4,566 4,603 101%

5,093 4,890 96%

5,100 4,900 96%

5,100 4,900 96%

* Clearance Rates of greater than 100% are due to cases from previous years’ being resolved

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Page 102 City of Golden 2009/2010 Biennial Budget

PLANNING AND DEVELOPMENT DEPARTMENT

The Planning and Development Department's primary responsibility is to carry out the provisions of the Golden Municipal Code under Title 17 (Subdivisions) and Title 18 (Planning and Zoning). The Department shares transportation planning duties with the Public Works Department. Starting in 2001, the department also manages the City’s Open Space acquisition program, authorized by the November 2000 bond election. The Planning Department is the major liaison to the Planning Commission, the Historic Preservation Board, and the Economic Development Commission.

Full-time

Planning and Development Director 1 City Planners 3 Administrative Technician 1 5

2009 Goals

Initiate and manage the Community Visioning Project Implement strategic goals as identified by Council. Implement Neighborhood Planning and 2008 Task Force Recommendations. Assist implementation efforts of the Economic Development Commission and its Community Marketing Fund. Complete Open Space preservation acquisitions to utilize the 2000 bond fund. Participate in Golden Sustainability Initiative.

2010 Goals

Implement strategic goals as identified by Council. Complete Community Vision Project and begin implementation through Comprehensive Plan, Strategic Plan, and Neighborhood Plan updates.

City Manager

Planning and Development Director

Planner PlannerAdministrativeTechnician

Planner

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Assist implementation efforts of the Economic Development Commission and its Community Marketing Fund. Complete code revisions as needed.Implement 2008 Task Force recommendations. Participate in Golden Sustainability Initiative.

PLANNING AND DEVELOPMENT DEPARTMENT

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 401,470$ 379,656$ 420,650$ 448,400$ 475,509$Supplies & Services 95,083 111,835 129,800 102,793 108,373Office Furn./Equip. 810 383 1,000 5,000 500

TOTAL 497,363$ 491,874$ 551,450$ 556,193$ 584,382$

Performance Measures

Beginning in 2009, the Planning Department will be instituting revamped performance indicators intended to address more meaningful qualitative measurements of service to the community and effectiveness. Actual numbers for 2008 and prior years for the previous indicators are below.

Actual2005

Actual2006

Actual2007

Projected2008

Land Use Cases Processed 90 98 91 75

Major Planning Efforts 3 2 3 7

Referendum and/or Legal Challenge 0 0 0 0

Annexations 0 0 2 0

Open Space Purchases Facilitated 1 0 0 0

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Page 104 City of Golden 2009/2010 Biennial Budget

ECONOMIC DEVELOPMENTThe Economic Development division was created in 1987 as a part of the City Council budget. Its creation coincided with the establishment of a program to stimulate business development and attraction within the City of Golden. In 1991, this division became part of the Planning and Development Department. In 1999, City Council appointed an Economic Development Commission to make recommendations on programs and projects related to economic vitality.

In the past, the amount shown in Supplies and Services was largely attributable to the refund of sales tax revenue prescribed in the revenue-sharing agreements between City Council and the Town Center Retail and Interplaza Developments. These sales tax sharing agreements are essentially complete as of the first half of 2009. A portion of the Economic Development Commission’s programs are also funded from this division.

2009 Goals

Implement community marketing plan. Expand business retention and business grant programs. Implement downtown programs with GURA. Participate in Golden Sustainability Initiative. Re-evaluate operations and structure of economic development activities in the community.

2010 Goals

Implement community marketing plan. Expand business retention and business grant programs. Implement business attraction programs. Participate in Golden Sustainability Initiative. Implement structural changes as determined in 2009.

City Manager

Planning and Development Director

City Council Economic Development Commission

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2009/2010 Biennial Budget

ECONOMIC DEVELOPMENT

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Supplies & Services 614,677$ 507,802$ 543,000$ 275,000$ 125,000$Signs (highway) 4,206

TOTAL 620,810$ 522,278$ 554,842$ 301,920$ 154,066$

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Page 106 City of Golden 2009/2010 Biennial Budget

COMMUNITY MARKETING FUND

The Community Marketing Fund was established in 2000 by Ordinance No. 1510. Funds are deposited in the Community Marketing Fund from the suspended sales tax vendor fee and the GURA reinvestment fund. Such funds are used solely to market the community utilizing the following activities, as described in, and limited by the management requirements contained in Section 18.62.060.

1. Develop and update a community marketing plan. 2. Develop and update an implementation strategy for promotion activities. 3. Public relations activities, promotional activities, direct advertising and limited financial

support for certain events and activities recommended by the plan.

Management of the Community Marketing Fund is handled by the Economic Development Commission and the Director of Planning and Development.

2009 Goals

Refine and implement the community marketing effort. Further refine performance standards and indicators to measure the success of the program.

2010 GoalsRefine and implement the community marketing effort. Further refine performance standards and indicators to measure the success of the program.

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Supplies & Services 301,103$ 262,008$ 303,324$ 310,000$ 325,000$

TOTAL 301,103$ 262,008$ 303,324$ 310,000$ 325,000$

City Manager

Planning and Development Director

City Council Economic Development Commission

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Page 107 City of Golden

2009/2010 Biennial Budget

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Page 108 City of Golden 2009/2010 Biennial Budget

MUSEUMSThe City contributes to three independent museums: the Golden Pioneer Museum, the Astor House and Clear Creek History Park. In 2008, the City Council voted to consolidate the operations of the three museums under the management of Golden History Museums (formerly The Friends of the Astor House and Clear Creek History Park), a not-for-profit organization. This consolidation will become effective January 1, 2009. The Golden Pioneer Museum is located at 923 10th St. The City contributes an operating subsidy, provides the building, and covers the cost of building maintenance costs, utilities and security. The City of Golden owns approximately 90% of the Pioneer Museum collection. The Astor House is located at 822 12th St. The City's contribution helps to underwrite operating costs and upkeep of these two historic sites. The artifact collection on display at the Astor House was donated to the City by the Golden Landmarks Association. The Astor House was originally built as a hotel in 1867 to house the Territorial Legislators when Golden was the Territorial Capital. Clear Creek History Park, located between 11th St. and Clear Creek just west of Washington Avenue, was created in 1994 on City-owned park land. This 3-acre, hands-on, living history site houses an original ranching homestead, a one-room school house, a replicated blacksmith shop, and more.

Contract management of the City’s museum efforts is handled by the Director of Parks, Recreation and Golf. The Historic Preservation Board advises Council on policy issues related to museum management, operations and long-range planning.

City Council

City Manager

Historic Preservation Board

Parks and Recreation Director

Friends ofThe Astor House and Clear Creek

History Park

Clear Creek History Park

The Astor House Golden Pioneer Museum

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2009/2010 Biennial Budget

2009 Goals

Increase visitors through special programs and lecture series using cooperative marketing and expanded advertising. Expansion of self-sustaining educational programs for children and adults. Increase funding through expanded grant writing and fund-raising. Continue to expand volunteer participation through a quarterly training program.

2010 Goals

Increase visitors through special programs and lecture series, using cooperative marketing and expanded advertising. Expansion of self-sustaining educational programs for children and adults. Increase funding through expanded grant writing and fund-raising.Continue to expand volunteer participation through a quarterly training program.

MUSEUMSAccount Description

Actual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Workers Comp. $ $ $ $ $Supplies & Services 244,941 256,260 263,000 235,000 235,000

TOTAL 244,941$ 256,260$ 263,000$ 235,000$ 235,000$

Performance Measures

Actual2007

Projected2008

Projected2009

Projected2010

Golden Pioneer Museum attendance

N/A 14,000 9,500 10,000

Astor House attendance 6,502 9,000 9,500 10,000

Clear Creek History Park attendance*

12,137 12,500 11,500 12,500

*Effective January 1, 2009, the Clear Creek History Park will be not be charging for admittance, so actual attendance figures will not be available.

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Page 110 City of Golden 2009/2010 Biennial Budget

PUBLIC WORKS DEPARTMENT Public Works Department provides administration of the Building Inspection Division and performs all engineering, engineering inspections, plan design, administration of capital programs, flood plain regulations, City mapping and traffic studies. It also administers the Fleet and Utilities Divisions, and provides representation to regional forums like the Denver Regional Council of Governments (DRCOG) and the Urban Drainage Flood Control District (UDFCD). The department also administers the City’s water rights. New to the department is the advancement of the City’s sustainability goals and the inclusion of a Sustainability Coordinator.

Full-time Part-timePublic Works Director 1 Deputy Public Works Director 2 Administrative Assistant 1 Administrative Technician 1 2 Chief Building Official 1 Building Inspector 1 Engineer 1

City Manager

Public Works Director

Deputy Director Utilities

Environment Treatment Plant

Streets

Deputy Director Engineering

WaterDistribution

EngineeringCapital Projects

Building Inspector

Transportation

Administrative Tech

Wastewater Collection

GIS Services

Drainage and Flood Plain AdministrationSustainability

Coordinator

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2009/2010 Biennial Budget

Engineering Technician 1 -- Sustainability Coordinator 1 -- Environmental Services 6 2 GIS / Mapping 1 1 Street Employees 14 -- Utility Employees 9 -- Water Rights Technician 1 -- Water Plant Employees 10 -- 51 5

PUBLIC WORKS ADMINISTRATION AND ENGINEERING DIVISION

2008 Accomplishments

Completed Fire Station #1 Construction of replacement infrastructure including streets, curbs, gutters, sidewalks, water lines, and wastewater lines. Continuation of water quality improvements to ensure compliance with safe drinking water standards by 2008. Completion of the Golden High School Roundabout. Begin Washington Ave and SH 58 Bridge replacement. Work with City Council, special counsel and public relations firm to keep an unwanted beltway out of Golden. Completed significant improvements to the East Fork of Kinney Run in partnership with Urban Drainage. The partnership allowed the city leveraged $25,000 of our drainage money to complete a $500,000 project. Gained CDOT approval for three long pending projects, US 6 and 19th Street pedestrian improvements, SH 93 sound wall and the Cheyenne Street Storm Drain. The Cheyenne Street Storm Drain was also bid and completed. The other projects will be constructed in 2009. Provided staff assistance to the city’s Walkability and bikeability committees. Completed the city wide facility audit under the state energy audit program. We applied for and received a $500,000 matching grant to complete the recommended audit improvements. The recommended improvements were started, including new heating and cooling equipment, solar pool heating and light change-outs. The project will be completed in 2009. Completed the expansion of the Pioneer Museum.

Goals for 2009 – 2010

Complete the remodel and expansion of the Planning/Public Works office, to include space for the HR and IT departments. The expansion should look for innovative ideas and meet LEED EB silver standards. Continue replacement infrastructure including streets, curbs, gutters, sidewalks, water lines wastewater lines.

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Page 112 City of Golden 2009/2010 Biennial Budget

Complete the improved SCADA improvements to the water treatment plant. Complete the replacement of the South 6000 treated water storage tank. Complete the improvements recommended from the state energy audit. Complete and implement the recommendations of the signal stream recycling and waste reduction program. Continue to implement improvements to achieve the sustainability goals of council set out in Ordinance 1793. Complete the US 6 & 19th Street pedestrian improvements. Complete the SH 58 and Washington Ave. Bridge replacement in conjunction with CDOT. Complete the SH 93 noise barrier, and do follow up testing to see if noise reduction goals were achieved. Complete and implement the Jackson Street Corridor improvements from 14th to 24th.Review and complete reasonable improvements to the South Golden Roundabouts recommended by Glatting, Jackson, Kercher. Not all of the recommendations are feasible. Continue to provide staff assistance to the city Sustainability Committee to help them achieve their goals.

PUBLIC WORKS ADMINISTRATION AND ENGINEERING

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 809,408$ 882,921$ 982,132$ 1,045,900$ 1,106,729$Supplies & Services 259,500 294,605 261,900 235,917 234,245Operating Equipment 8,128 2,488 6,000

TOTAL 1,077,036$ 1,180,014$ 1,244,032$ 1,287,817$ 1,340,974$

Performance Measures

Actual2007

Projected2008

Projected2009

Projected2010

Building Permits 787 800 800 800

Value of Capital Projects $7,500,000 $5,750,000 $6,800,000 $4,500,000

Sign Reduction (Total Signs) 5420 5506 4404 3950

Street pavement OCI 84 85.6 85.6 90

Traffic Studies 35 24 20 20

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2009/2010 Biennial Budget

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Page 114 City of Golden 2009/2010 Biennial Budget

STREETS DIVISION

The Streets Division is responsible for the repair and maintenance of approximately 222-lane-miles (10' x 1 mile) of asphalt pavement, 118 miles of curbs and gutters, 6 miles of alleyways, 22 miles of underground storm drainage, 11 miles of open drainage, and 5 bridges.

The Streets Division has upgraded one of the leadman positions to be a storm drainage supervisor. This individual will work to ensure that the City stormwater system is open, clean and meets water quantity and quality standards. This includes all stormsewers, channels and detention facilities. This individual will work closely with the Urban Drainage and Flood Control District and will use street division personnel to help with this effort.

Pavement maintenance includes crack sealing, pothole patching, pavement marking, street sweeping and snow/ice control. Sign installation, dead-end barricades and guardrails are also maintenance responsibilities within the right-of-way.

The Streets Division also routinely assists with special events and other projects as needed.

Full-timePW Streets Divisions 14

City Manager

Public Works Director

StreetSuperintendent

Street Supervisor Drainage Supervisor

Deputy Director Engineering

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2009/2010 Biennial Budget

2009 and 2010 Goals

Improve customer service relations by providing better and more extensive information using the CarteGraph Call Director feature and improved use of Work Director. Assist with tree maintenance program. Aggressively continue to comply with Regional Air Quality Council (RAQC) requests to reduce sanding and also reduce sweeping through the use of alternative de-icers. The use more alternative de-icer that costs more, but reduces sweeping. Additional try new products. Make strategic reductions in both snow plowing/removal and sweeping to achieve council goals of reducing city VMT and fuel use by 25% over 2006 by 2016. Continue community involvement with Adopt-a-Street, Adopt–a-Spot and Pothole Hotline programs. To help achieve this we will use Work Director to plan daily, weekly and monthly activities to reduce travel miles by 5% a year. Actively continue alley maintenance program using recycled asphalt. This should be require less effort going forward due to the significant investment made in 2006 to 2007 Aggressively continue programmed maintenance to infrastructure. Continue update of City infrastructure inventory for City GIS database. Collect and enter sign information for SignView system. The new federal requirements to inspect will challenge maintenance time, but with the continued efficiencies we are finding using GIS and Work Management technologies the city should comply with the new requirements. Enhance drainage maintenance program to include complete scheduled work program inclusion in the CartaGraph asset management system.

STREETS DIVISION

Account Description Actual 2006

Actual 2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 882,984$ 831,088$ 856,156$ 863,205$ 915,694$ Supplies & Services 781,293 968,598 859,900 945,207 1,004,498 Equipment 14,157 14,219 -- 16,000 15,000

TOTAL $1,698,083 1,875,261$ 1,736,056$ 1,844,412$ 1,955,192$

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Page 116 City of Golden 2009/2010 Biennial Budget

Performance Measures

Actual2007

Projected2008

Projected2009

Projected2010

Tons - Sand/Salt 75 lbs./lane-mile

70 lbs./lane-mile

60 lbs./lane-mile

50 lbs./lane-mile

Sweeping 2800 hrs. 2,800 hrs. 2,000 hrs 1,800 hrs.

Tons Asphalt 1,200 tons 1,200tons 1,000tons 900tons

Crack Sealing 15,000 lbs. 16,000lbs. 17,000lbs. 17,000lbs.

Alley Improvements $15,000 $12,000 $10,000 $10,000

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Page 117 City of Golden

2009/2010 Biennial Budget

HIGHWAY CORRIDOR PROJECTThe Highway Corridor budget has been created to track City expenditures related to the transportation proposals north of Golden through Arvada to Broomfield. Expenses occur in two main arenas: legal expenses to ensure the City has used all available tools to protect our citizens from impacts of proposed regional roads and traffic; and technical engineering and environmental studies. The City has successfully stopped the completion of a biased EIS that would have prescribed a significant highway through Golden. The struggle to get appropriate and effective highway improvements is not over though. We will need to continue to be engaged in the process and this especially critical in 2009/10 as the Jefferson Parkway Public Highway Authority attempts to get a private partner, or private funding to complete a portion of their desired supper highway. In doing this they will likely need to concede needed future planned countywide transportation improvements, which will have tragic long term traffic implications.

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Page 118 City of Golden 2009/2010 Biennial Budget

SUMMING UP THE HIGHWAY CORRIDOR:

The City is concerned with the continued desire to construct a significant freeway through Golden, with as much as 120 feet of paved surface for the purpose of helping development to the north of Golden.

The City participated in the Northwest Quadrant Feasibility Study in 2002, which determined that arterial improvements to north-south running arterial roads throughout the corridor, including State Highway 93 and Indiana Street, were the best alternative for the region.

The City completed a schematic highway design, that included mitigation to community defined noise standards in 2003. The plan was designed to accommodate the traffic volumes defined in the Northwest Quadrant Feasibility Study. This plan has been adopted by City Council.

The state has not embraced the Highway Corridor Feasibility Study or the plan that Golden has completed for the U.S. 6 and S.H. 93 corridor. The State abandoned their Draft EIS in 2008, choosing instead to label the document Northwest Corridor Transportation and Environmental Planning Study (NCTEPS).

The NCTEPS appears to have many flaws, which the city is documenting. This study does appear to be the basis for the Jefferson Parkway Public Highway Authority’s attempt to find a private partner and possible public money to build a porting of the highway system contained In the NCTEPS.

The City expects that significant professional and legal time will be needed to avoid a tragic development, that will be completely ineffective in providing mobility in the Northwest Quadrant, but also seed a future bias for significant out of direction traffic affecting Golden.

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Supplies & Services 392,349$ 333,693$ 375,000$ 300,000$ 300,000$

TOTAL 392,349$ 333,693$ 375,000$ 300,000$ 300,000$

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2009/2010 Biennial Budget

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Page 120 City of Golden 2009/2010 Biennial Budget

POLICE ADMINISTRATION AND SUPPORT SERVICES Police Administration and Support Services serves a collaborative and supporting role for the Operations Division. Functions within the division include: The Office of the Chief of Police, School Resource Officers, Records, Dispatch/Communications Center, Code Enforcement, Professional Standards, PIO/Recruitment along with numerous part-time and volunteer functions.

The division has operational responsibility for numerous programs associated with administration, crime reduction and community relations efforts. They include international accreditation, in-service training, training for local businesses, senior citizen resource programs, Golden Cares, volunteer programs, business and residential crime prevention efforts, school crossing guards, a citizens/policeacademy, a youth/police academy, a cadet program and the enforcement of parking, nuisance violations and animals.

Full-time Part-time Chief of Police 1 -- Captain 1 -- Administrative Assistant 1 -- Sergeant 1 -- School Resource Officers 2 -- PIO/Recruitment Officer 1 -- Records Supervisor 1 -- Records/Communications Manager 1 -- Records Clerk 1 -- Dispatchers 10 -- Code Enforcement Officer 2 -- Cadet -- 1 Crossing Guards -- 5 Volunteer Service Coordinator -- 1

Parking Enforcement -- 1

Total 22 8

City Manager

Chief of Police

DivisionCommander

Administrative Assistant

CommunityServices Code Enforcement Communications Records

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2007-2008 Accomplishments

Support Services continued working through accreditation self-assessment, held a mock on-site in August and planned for the April 2008 actual on-site staying within the contract period

CALEA conducted the on-site in April. Following a review and hearing presentation, the department received its full accreditation award recognition in July.

The division deferred the community survey project to be commensurate with requirements in time sensitive accreditation standards.

The review of CAD/RMS software was deferred. The division will be collaborating on this with the City’s IT department in 2009.

The department became operational countywide in COPLINK in 2007. COPLINK is nowexpanding to cover the entire state. Golden, and other Jefferson County law enforcement agencies, were first to support and implement this investigatory capability.

2009-2010 Goals

Support Services Division: Provide leadership role in institutionalizing the operational aspects that accompany international law enforcement accreditation. Support Services Division: Guide on-time completion of all required GPD administrative reports and 59 time-sensitive standards within established calendar. Support Services Division Community Services Section: o School resource officers, through coordinated coverage to Golden High School and Bell

Middle School, will handle majority of police calls for service during available times and in conjunction with other duties.

o Press Information/Recruitment Officer will process all full-time employee recruitment cycles within established time lines; and work to implement agency recruitment plan.

o Community Resource Officer will work within the agency’s organizational structure to further all existing/future programs within established time lines.

Support Services Division Records and Communications Section: o Communications will research and revise (as needed) its field training program for new

full or part-time employees. o Records will transition from existing to new supervisor and clerk within six months of

hire date.

POLICE ADMINISTRATION

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 1,646,010$ 1,699,847$ 1,822,340$ 1,904,133$ 2,014,247$Supplies & Services 285,886 273,308 325,500 337,734 337,436Subtotal Capital 6,475 15,000 10,000

TOTAL $1,938,371 1,973,155$ 2,147,840$ 2,256,867$ 2,361,683$

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Page 122 City of Golden 2009/2010 Biennial Budget

SERVICE DEMANDS – ADMINISTRATION

Service Demands - Administration

Actual2006

Actual2007

Projected2008

Projected2009

Projected2010

Number of Records Processed 52,800 53,632 54,060 54,495 54,935 Training Hours Per Year* 6,489 5,566 6,520 6,000 6,000 Public Presentations Conducted 70 70 75 80 80 Press Releases 16 19 20 25 25 Profession Standards Investigations** 20 29 80 80 80

* 2007 training schedule cancelled for two months for manpower shortage and work schedule modification.

** PSI numbers increased from policy change requiring more stringent reporting and tracking.

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2009/2010 Biennial Budget

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Page 124 City of Golden 2009/2010 Biennial Budget

POLICE OPERATIONS DIVISION

The Police Operations Division provides policing services that directly impact community safety. The division’s primary objective is to arrest criminals, reduce crime, reduce the fear of crime and use pro-active problem solving in conjunction with the citizens of Golden.

This is accomplished through the following functional components: patrol, traffic enforcement, DUI enforcement, investigations, cyber crime, evidence/crime scene processing and drug enforcement.

Officers work with individuals, neighborhood groups and businesses to create and maintain strong ties with the community.

Full-time Part-time Captain 1 -- Sergeant 7 -- Sworn Police Officers 30 -- Non-Sworn Evidence Tech 2 --

Total 40 0

City Manager

Chief of Police

DivisionCommander Administrative

Assistant

InvestigationsPatrol

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2009/2010 Biennial Budget

2007-2008 Accomplishments

Applied for and received DUI LEAF funding for 2008. Continued to have an officer assigned to DUI enforcement and also participated with other Jefferson County law enforcement agencies in several DUI checkpoints. In 2007 – 08 the Golden Police Department’s Traffic Operations Unit continued to periodically conduct Port of Entry checkpoints for commercial vehicles to help ensure the safety of the motoring public on highways in the City of Golden. The operations Division continued to work closely with the Support Services Division to undertake the operational aspects of CALEA® accreditation. In 2007 -08 the Golden Police Department’s Traffic Operations Unit continued to work intensified traffic enforcement in areas identified as having the most traffic crashes. In 2007 - 08 the Golden Police Department continued to focus more on current crime issues and concerns at weekly staff meeting. We began the process to transition from this weekly intuitive discussion of current and emerging crime issues and concerns to a data driven tailored process that best suits the needs of the department. To this end we have created a problem solving team to address specific crime and quality of life issues.

2009-2010 Goals

Undertake operational aspects of accreditation. The operations Division continues to work closely with the Support Services Division to implement the established set of professional standards that when completed will strengthen our accountability within the agency and community. Continue the commitment to the evolution of the department’s traffic unit. The Traffic Unit’s goal is to create a safe driving environment for motorists in and around the City of Golden. The Traffic Unit will continue to aggressively enforce the traffic laws of the City and State to ensure the citizens of Golden will be as safe as possible on our streets and highways. Continue to conduct Port of Entry checkpoints for commercial vehicles to help ensure the safety of the motoring public on highways in the City of Golden. Support resolution #1793 of city-wide sustainability goals to “increase the ability of Golden residents and visitors to travel to and through Golden using alternative transportation.”Police Operations can accomplish this by doing our part as a traffic enforcement and education unit to make the city more pedestrian and bicycle friendly. In support of resolution #1793 of city-wide sustainability goals to “Reduce the City of Golden’s energy usage by 25%” by investigating the following thoughts: Explore alternative service delivery options that reduce citizen and officer trips to the police department. Look at the possibilities of making report writing in a police car a viable option as opposed to returning to headquarters to complete reports. By the end of 2010 reduce patrol time in a patrol car by 25% through the use of bicycles, foot patrol and other alternate methods of service delivery.

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Page 126 City of Golden 2009/2010 Biennial Budget

POLICE OPERATIONS

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 3,404,339$ 3,291,111$ 3,620,002$ 3,807,750$ 4,037,904$Supplies & Services 612,686 676,565 708,900 809,563 820,153Capital 39,319 43,809 31,700 20,000 23,600

TOTAL $4,056,344 4,011,485$ 4,360,602$ 4,637,313$ 4,881,657$

Performance Measures

Actual2006

Actual2007

Projected2008

Proposed2009

Planned2010

Dispatch Calls 33,000 28,108 28,500 30,700 30,700 Case Numbers* 4,106 12,301 10,250 11,100 11,100 Citations Issued 8,066 7,976 7,000 7,600 7,600

* Increase from 2006 to 2007 is a result of a change in reporting procedures.

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2009/2010 Biennial Budget

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Page 128 City of Golden 2009/2010 Biennial Budget

FIRE DEPARTMENT

The mission of the Golden Fire Department’s dedicated volunteer and paid professionals is to enhance the quality of life for the Golden Community through fire and injury prevention, education, and protection of life and property.

The Golden Fire Department provides fire and life safety activities from four stations strategically located throughout the City. The Department is organized into four divisions: Fire and Life Safety, Training and Safety, Technical Services and Operations. The Operations Division is comprised of an all volunteer fire and emergency response force divided into two primary districts and a special operations group comprised of the technical rescue team, wildland fire team, swift water rescue team and hazardous materials response team. Volunteer Assistant Chiefs and Volunteer Captains lead each group. The Operations Division responds from the four fire stations, each being equipped with state-of-the-art apparatus and equipment.

The Administration, Fire and Life Safety Division, Training and Safety Division and Technical Services are staffed by career employees of the City of Golden who provide a variety of services to the citizens and customers of Golden. They also support, train and maintain the high standards of the Operations Division. The Fire and Life Safety Division assists businesses and builders with plan review, inspection services and education to maintain acceptable levels of fire and life safety within the community. This includes code management, code enforcement, as necessary and fire investigation services.

GOLDEN FIRE DEPARTMENT ORGANIZATIONAL CHART

A tremendous amount of growth has occurred in the last two years requiring a great deal of work from the fire department in relation to plan review and construction inspection. Three new structures plus a parking garage are planned for the campus at CSM. Several senior citizen communities have been constructed including Golden Pond and Clear Creek Commons. Much work in the area of plan review in on-going for new downtown projects such as Millstone, Gateway Station and the new Gateway Village.

EXECUTIVE ASSISTANTDebbie Testroet

FIRE CHAPLAINRev. Kevin Kirby

FIRE AND LIFE SAFETY SERVICES

Fire Inspector BerensTechnician Ipatenco

FIRE MARSHALDeputy Chief Stricker

FIRE & LIFE SAFETY DIVISION

INFO/MEDIA SERVICESCaptain YoungAnna Trzeciak

ASST. TRAINING OFFICER-RECRUITMENT &

VOL. OPERATIONSCaptain Quador

TRAINING/SAFETY CHIEFDivision Chief Brewer

TRAINING & SAFETYDIVISION

Station #1Resident FF's

Non-Resident FF's

DISTRICT #1Station Captains - 3Shift Lieutenants - 3

BATTALION #3Asst. Chief Nelson

Station #2, #3, #4Resident FF's

Non-Resident FF's

DISTRICT #2Station Captains - 3Shift Lieutenants - 3

BATTALION #1Asst. Chief Burrell

Rescue TechniciansWildland Firefighters

SPECIAL OPERATIONS &TECHNICAL RESCUE

Captain Giesick

BATTALION #2Asst. Chief Snart

OPERATIONSDIVISION

APPARATUS TECHNICIANJohn Kellenbenz

FIRE MECHANICRalph Jacques

TECHNICALSERVICES

FIRE CHIEFChief John Bales

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Page 129 City of Golden

2009/2010 Biennial Budget

2007-2008 AccomplishmentsPlanned, designed, constructed and occupied a new Fire Administration/Fire Station #1 facility. Donated a 1982 Seagrave Pumper apparatus to the Town of Sanford, CO Upgraded 19 portable and four mobile radios completing a two year radio upgrade project Expanded the firefighter health and wellness program Adopted a non-resident volunteer firefighter program and established a volunteer shift program Increased the volunteer membership to 74 volunteer firefighters Conducted three recruit academies during 2007 and 2008 Upgraded the part-time Fire and Life Safety Technician to full-time status in 2008 Implement a career position for Volunteer Coordinator/Recruiter in 2007/2008 Enhanced the battery charging systems on all major fire apparatus extending battery life Enhanced our ability to report incident data based on the National Fire Incident Reporting System Received two federal fire service grants in the area of firefighter health and safety and recruitment and retention of volunteer firefighters Received an international award from the International Association of Fire Chiefs on the recruitment and retention of volunteer firefighters Adopted the International Fire Code to the 2006 edition Completed the transition to competency based recertification (using Job Performance Requirements prior to the end of 2008 for renewals beginning in 2009 Implemented a new five-year agreement with American Medical Response to provide ambulance service to the City of Golden Purchased a new water rescue boat and trailer from Gaming Grant funding

2009-2010 GoalsBring the total volunteer membership to 85 members by 2009 and to 90 in 2010 Enhance and expand shift coverage by volunteer firefighters working towards 24/7 coverage Update current inspection reporting to an automated in field reporting system in 2009/2010 Adopt the International Fire Code and initiate and incorporate rules and regulations that are relative in 2009 Complete a promotional process for volunteer firefighters by adding six Volunteer Lieutenant positions for shift coverage in 2009 Manage an annual recruit academy in 2009 and in 2010 enhancing and increasing volunteer membership The Fire Department will make a continuous effort to reduce accidents involving fire apparatus by 25% in 2009/2010 The Fire Department will make a continuous effort to reduce accidents resulting in personnel injuries by 25% in 2009/2010 Planning will begin in 2010 for the purchase of a replacement apparatus for a 20 plus year Telesqurt in 2011 Planning will begin in 2010 for the remodel of Fire Station #4 A study will be conducted to determine the feasibility of pursuing career positions consisting of Fire Engineers for the department in the Operations DivisionImplement sustainability measures for the Fire Department without disrupting or impacting services provided

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Page 130 City of Golden 2009/2010 Biennial Budget

FIRE DEPARTMENT

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 678,804$ 779,420$ 850,900$ 946,130$ 994,453$Supplies & Services 327,135 396,040 460,485 518,930 546,642Debt ServiceCapital 11,595 17,844 12,000 7,500 8,000

TOTAL 1,017,534$ 1,193,304$ 1,323,385$ 1,472,560$ 1,549,095$

Fire Department - Performance Measures

FIRE DEPARTMENT PERFORMANCEMEASURES

Performance MeasureActual2006

Actual2007

Projected2008

Projected2009

Projected2010

Response Time in City 6:26 5:41 5:20 5:10 5:10Average Firefighter per call 9 7.33 7 8 8Fire Safety Classes 50 41 24 35 40Size of Recruit Class 10 25 16 15 12Total Fire Safety Inspections 944 1015 1070 1220 1370Smoke Detectors Given 10 4 0* 3 3Total Emergency Responses 1234 1259 1200 1225 1250Building Plan Reviews 240 190 260 210 210Training Hours 9087 9813 14,528 15,980 17,578

* replaced batteries in 15 smoke detectors in residences

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Page 131 City of Golden

2009/2010 Biennial Budget

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Page 132 City of Golden 2009/2010 Biennial Budget

PARKS AND RECREATION ADMINISTRATION

Parks and Recreation Administration provides administration of the Parks and Recreation Department, which includes Forestry, Cemetery, Parks, Golf Course, The Splash, Outdoor Recreation, RV Park, Municipal Facilities and the Community Center. The personnel located within this budget work City-wide throughout the above mentioned facilities and thus cannot be attributed to any one divisional budget.

Full TimeDirector of Parks, Recreation, and Golf 1 Recreation Manager 1 Facilities Manager 1 Parks and Recreation Coordinator* 1 Recreation Coordinator – Data Management* 1

*Staff changes include the addition of a Parks and Recreation Coordinator and the upgrade of the Administrative Assistant position to Recreation Coordinator – Data Management for the Recreation Division.

2007-2008 AccomplishmentsSuccessful completion of the Golden Community Center renovation in early 2007.Accreditation process is underway with projected completion in 2009-2010.

2009-2010 GoalsTo collaborate with the Parks and Recreation Advisory Board and citizens to prioritize and implement the recommendations of the 2008 Golden Parks and Recreation Master Plan. To improve the efficiency of the Department and gain a better understanding of how we do business.

RecreationManager

FacilitiesManager

Administrative Assistant

City Manager

Director of Parks, Recreation, and Golf

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Page 133 City of Golden

2009/2010 Biennial Budget

PARKS AND RECREATION ADMINISTRATION

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 388,225$ 343,946$ 419,080$ 453,960$ 482,991$Supplies & Services 22,721 24,427 26,091 37,605 32,560Capital

TOTAL 410,946$ 368,373$ 445,171$ 491,565$ 515,551$

Performance Measures

Develop goals and objectives by Division to be evaluated annually and published in the Parks and Recreation Department Annual Report. Develop a long-term Parks and Recreation Department Strategic Plan to guide staff in the implementation of the 2008 Parks and Recreation Master Plan Reserve funding in the Capital Improvements Program Budget for future development in accordance with the Master Plan Recommendations. Prepare and distribute a Parks and Recreation Department Citizen Survey Continue to work towards Agency Accreditation in 2009-2010, a self assessment of all internal procedures, assessed by the Commission for Accreditation of Parks and Recreation Agencies (CAPRA). Strategize opportunities in the next year that may enhance the user experience and strengthen the Department’s National Recreation and Parks Association Gold Medal Application with the goal of becoming a finalist in the next two years.

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Page 134 City of Golden 2009/2010 Biennial Budget

OUTDOOR RECREATION DIVISIONOutdoor Recreation is a year-round division providing recreational athletic opportunities for youth and adult citizens of Golden and surrounding areas. Programs offered by Outdoor Recreation strive towards meeting the needs of the community and filling gaps in programming that are not provided by other entities in the area.

Facilities used for outdoor recreation include Lions Park Fields and Tennis Courts, Tony Grampsas Memorial Sports Complex Fields and Gymnasium, Ulysses Sports Complex Fields and Batting Cage, The Hockey Stop, White Ash Mine, Southridge, and Golden Heights Parks. These facilities are safe and well-maintained and continue to evolve to meet the growing needs of the community. In 2008, new lighting was installed at Lions Park on both the fields and tennis courts. The new Musco® Lighting is energy efficient, limits off-site light spillage by over 50%, and is operated by a control link. Musco® estimated a total energy cost difference over 10 years of $25,069 at Lions Park.

Facilities:Ulysses Sports Complex Ulysses Batting Cage Lions Park Fields Tony Grampsas Gym Lions Park Tennis Courts The Hockey Stop White Ash Mine, Southridge, and Golden Heights Parks

Programs offered for adults through the Outdoor Recreation Division include: Softball – spring, summer and fall Basketball – fall and winter Volleyball – fall and winter Dodgeball – fall and winter Kickball – summer and fall Tennis – spring, summer and fall

Youth/tot programs offered through the Outdoor Recreation Division include: T-ballSoccerSkyhawks Sports Camps TennisInline Hockey CARA Tennis CARA Track CARA Volleyball Interleague Volleyball Annual fishing derby

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2009/2010 Biennial Budget

The Outdoor Recreation Division also works closely with Youth Sports Associations to provide field space. Associations include:

Colorado Ice Golden Junior Baseball Golden Applewood Youth Football Association Golden Applewood Youth Basketball Association Golden Girls Softball Association Compass Montessori School Golden High School

Full-time Seasonal Parks & Rec. Administration .75* Outdoor Recreation 1.00 40

*Salaries and benefits associated with management are charged to the Parks and Recreation Administration account in the General Fund.

2009 - 2010 Goals

Improve community feedback systems. Improve market analysis and understanding. Improve operating efficiency Develop division teamwork

City Manager

Parks and Recreation Director*

Recreation Manager

Adult/AthleticSupervisor

Athletic Coordinator

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Page 136 City of Golden 2009/2010 Biennial Budget

OUTDOOR RECREATION

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 166,647$ 172,458$ 182,923$ 184,550$ 195,067$Supplies & Services 124,626 123,543 127,700 140,618 145,359Capital 9,500

TOTAL 300,773$ 296,001$ 310,623$ 325,168$ 340,426$

Performance Measures:

Monitor operating efficiency/cost recovery Monitor program participation (age breakout: 0-6; 7-17; 18+; senior)

Actual2006

Actual2007

Projected2008

Projected2009

Projected2010

Cost Recovery 78% 96% 92% 92% 94%

Breakout Information:

Adult League Participants Athletic Field Rental (Groups) Pavilion Rentals

3,68124

146

4,15127

172

4,40629

178

4,50025

185

4,63527

190

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Page 138 City of Golden 2009/2010 Biennial Budget

PARKS DIVISION

Within or adjacent to the City of Golden is 5,154 acres of parkland, trails, and open space. The system of parks includes pocket parks, neighborhood parks, community parks and trail systems. The parks include the latest innovations in park design, athletic fields, tennis courts, volleyball courts, ponds, fountains and automated irrigation systems.

The Parks Division provides dedicated commitment to the Golden community. Efforts strive to deliver efficient, diversified and adaptable service to conserve a natural foothills urban setting that is fun, attractive and safe. Responsibilities of the Parks Division include facility maintenance and repairs, litter pickup and trash removal, graffiti removal, public restroom operation and cleaning, turf grass maintenance, irrigation system installation and maintenance, trail maintenance, area lighting maintenance, annual and perennial flowerbed planting and care, shrub planting and maintenance, special projects and installations, snow removal, traffic calming and right of way maintenance, open space maintenance, pavilion maintenance, administration of Golden Pride Days, holiday light program, public art maintenance and staff support for Golden community events such as Buffalo Bill Days and the Lions Club Fourth of July Celebration.

* In 2008, individual manager positions were consolidated into a single position

Full-time TemporaryParks Division 9 10

**Salaries and benefits associated with management are charged to the Parks and Recreation Administration account in the General Fund.

2007 Accomplishments The raw water system at Ulysses was completed in late summer 2007. Raw water has been used exclusively to irrigate the facility in 2008.The Parks Division took sole responsibility for goose control in 2007. In 2007 the program consisted of egg oiling, construction of a silt fence around the water utility pond and the introduction of vegetation around the pond. It was determined that egg oiling was by far the most (and likely the only) effective and efficient method of control. In 2007 eight nests and

City Manager

Parks and Recreation Director*

Parks, Cemetery, and Forestry Manager*

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50 eggs were oiled and seven eggs hatched. In 2008 the program was continued with 6 hatches.Myrtle spurge continues to be actively controlled throughout city property by mechanical and chemical means. The Division estimates an 85% control rate on City property.

2008 Accomplishments

Retrofit Lions ball fields with Musco “light system green” field lights were completed in the spring of 2008. 60% of trimmers and 50% of backpack blowers were replaced in 2008 to meet EPA “tier two” emission standards.

2009 Goals

Year two management of Maintenance Facility Campus (3 year plan) Continue to replace equipment with EPA Tier Two emission standards Continue to reinforce and train individual staff on park responsibilitiesProvide specific specialized training to each staff member and certify staff as appropriate

(i.e. pesticide applicator) Integrate Parks, Cemetery and Forestry staff into a more cohesive Division Implement fuel reduction strategies – increase fleet mpg Create citizen satisfaction surveys and conduct Improve maintenance of Clear Creek Whitewater Course by reducing erosion areas and drop

offsDevelop individual park maintenance plans – and implement Develop a 10 year life-cycle plan for infrastructure maintenance

Goals 2010

Year three management of Maintenance Facility Campus Restoration of native growth areas (begin three year plan) Continue to conduct surveysContinue to replace equipment with EPA Tier Two emission standards Continue to reinforce and train individual staff park responsibilitiesProvide specific specialized training to each staff member Integrate Parks, Cemetery and Forestry staff into a more cohesive division. Continue to develop management plans and procedures for reducing fuel consumption Implement fuel reduction strategies – increase fleet mpg Improve maintenance of Clear Creek Whitewater Course by reducing erosion areas and drop

offs

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Page 140 City of Golden 2009/2010 Biennial Budget

PARKS DIVISION

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 503,338$ 507,828$ 542,300$ 643,500$ 682,567$Supplies & Services 495,304 487,003 458,471 541,474 558,161Capital 11,269 (1,097) 6,500 10,000 10,000

TOTAL 1,009,911$ 993,734$ 1,007,271$ 1,194,974$ 1,250,728$

Performance Measures

Fuel reduction as a ratio of employees compared to 2008 Electrical reduction compared to 2008 Department citizen survey results Hours of Training/Certifications acquired and maintained

Parks - Performance Measures

Actual2006

Actual2007

Projected2008

Projected2009

Projected2010

Park Acres Trail Acres Open Space Acres Total Acres

20460

390654

22260

390672

22262

390674

22267

390679

22267

390679

Trails (in miles) 20 miles 20 miles 21 miles 24 miles 24 miles

Restrooms Maintained

7 permanent 2 seasonal 10 portable

7 permanent 2 seasonal 14 portable

6 permanent 2 seasonal 7 portable

6 permanent 2 seasonal 7 portable

6 permanent 2 seasonal 7 portable

Traffic Islands Acres 171 sites

3.9180 sites

4.0220 sites

4.5225 sites

5.5225 sites

5.5

Pedestrian Bridges 12 12 12 13 13

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Page 142 City of Golden 2009/2010 Biennial Budget

FORESTRY DIVISION

The Forestry Division is committed to the health and maintenance of the City’s right-of-way trees (those within 10' of the curb on all City streets) as well as the care of trees in all City parks and public areas. Urban tree care includes trimming, watering, pest control, planting, removals, mulching and fertilizing. Public education about the importance of proper care for health trees is also a goal. This work is all part of the focus on keeping the City's older trees healthy and beautifying our streets. The Institute for Environmental Solutions (IES) and the City of Golden Forestry Division organized volunteers to measure tree and landscape characteristics at more than 100 sites throughout Golden for The Tree Project in June, 2007. The measurements included data for determining the environmental benefits of trees and for water and energy conservations studies. The goal of these analyses was to quantify the environmental costs and benefits of trees. An example is the impact of trees on a building’s energy use. Trees can be helpful and detrimental. They shade the building and require less air conditioning in the summer. Yet, they can be detrimental if the trees shade the building in the winter and cause residents to turn the heat on sooner. The information is used to make recommendations to both staff and residents on the best ways to plant trees to conserve energy and reduce greenhouse gas pollution.

The City of Golden’s meticulous attention to the health of its trees is the central reason why the City has received the prestigious Tree City USA Award for 18 consecutive years. Communities receiving the award have demonstrated the commitment necessary to achieve all of the benefits that come with a healthy urban forest: shade, cooler summer temperatures, beauty, cleaner air, quieter streets and desirable properties. The financial commitment required to qualify for this award has been set at a minimum of $2 per capita, per year. The Forestry Division has far exceeded this minimum each year, a tribute to the City’s commitment.

* In 2008, individual manager positions were consolidated into a single position

Full-time TemporaryForestry Division 1 2

City Manager

Parks and Recreation Director

City Forester

Parks, Cemetery, and Forestry Manager

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2007 Accomplishments Tree City USA for the 17th consecutive yearPlant 50 right-of-way street trees Distributed 500 cubic yards of public-use mulch free to the communityContracted trimming of 40 large right – of – way treesContinue to monitor Community forest for pest invasionMoved forestry operations to new City of Golden shop site

2008 Accomplishments Tree City USA for 18th consecutive year Plant 35 right-of-way street trees Distributed 500 cubic yards of public use mulch to the community Contract trimming of 40 large right-of-way treesContract trimming of 12 large cottonwood trees in city parks

Goals 2009 Begin intensive hazard tree identification program Reduce division fuel consumption compared to 2008 Tree City USA for 19th year Plant 40 right-of-way trees Increase City tree canopy

Goals 2010 Continue hazard tree identification Reduce division fuel consumption compared to 2009 Tree City USA for 20th year Plant 40 right-of-way trees Distribute 500 cubic yards of mulch Increase City tree canopy

FORESTRY DIVISION

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 107,001$ 108,221$ 115,700$ 118,550$ 124,730$Supplies & Services 49,455 70,888 66,450 73,998 76,927Capital 1,000

TOTAL 156,456$ 179,109$ 182,150$ 193,548$ 201,657$

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Page 144 City of Golden 2009/2010 Biennial Budget

Performance Measures

# of trees planted Fuel usage reduction compared to 2008 Percentage of City trees which are identified as hazards compared to total City trees inventoryIncreased City Tree CanopyTree City USA

Actual 2006

Actual 2007

Projected 2008

Proposed 2009

Planned 2010

Number of trees planted 110 87 122 110 120 Fuel Usage Reduction* (in gallons) 2,324 2,268 3,981 3,750 3,500

* In 2007, a boom truck and a water truck were added to the Forestry Division resulting in additional fuel usage

The Forestry Division is in the process of developing the means for measuring the percentage of trees which were identified as hazards and increases in the tree canopy.

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Page 146 City of Golden 2009/2010 Biennial Budget

City Manager

Parks & Recreation Director

Facility Manager

Customer Services Representatives (4 PT)

CLEAR CREEK RV PARK

Mission Statement:

“To provide a friendly, appealing campground for our customers that is competitively priced and exceptionally well maintained. Our professional staff will treat each customer courteously and respectfully. The staff will also promote local businesses and events in support of the City of Golden.”

The City of Golden’s Clear Creek RV Park is a beautiful park at the base of Clear Creek Canyon. The RV Park hosts over 3,000 visitors each year. It offers a relaxed country-like setting within walking distance of historic downtown Golden. The RV Park is open year-round, equipped with 22 full hook-ups, 11 electric only, 3 tent & 2 dry campsites, computer hook-up available for e-mail, large clean restrooms, showers, laundry facilities, and a dump station.

2007-2008 Accomplishments Completed capital improvement projects 1. Replacement of several washers and dryers in laundry room. 2. Painted exterior of office, bath house and garage. Promoted City of Golden business establishments by providing brochures and other information. Maintained top ratings given to RV parks by Woodalls and Trailer Life.Switched WiFi provider to provide in-house service Continued to improve the overall professional look of the park.

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2009-2010 Goals:

1. To continue to work toward a more sustainable park.

Change switches to occupancy sensor in restrooms and laundry. Change to LED efficient interior lighting.Change T-12 fluorescent lighting to T-8.

2. To follow the Capital Improvement Projects as outlined in the Facilities Maintenance 10 Year Plan.

Underground winter water source for 10 RV sites. Replace Office Furnace.

3. To increase gross revenue to $250,000.

Increase fees based on the 2008 fee study of surrounding RV Parks. Increase advertising to increase the number of people using the park.

Clear Creek RV Park Budget

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 40,734$ 40,580$ 44,876$ 46,087$ 47,497$Supplies & Services 48,936 50,216 60,863 62,700 66,381Capital 3,719 24,000 19,800

TOTAL 93,389$ 90,796$ 105,739$ 132,787$ 133,678$

Performance Measures

The Clear Creek RV Park is and has been at capacity for several years. The number of RV sites available is to capacity every evening in the summer months and “electric only” sites are the only spaces available during the winter. Performance will be measured through the following avenues.

Ability to maintain City of Golden Finance Department’s annual revenue projections. Customer satisfaction will be measured through customer surveys. Through the Proteus Maintenance Software Program, maintenance cost will be compared indicating the areas/equipment that is a cost drain. Measurement of the cost effectiveness of the RV Park preventative maintenance program.

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Page 148 City of Golden 2009/2010 Biennial Budget

Performance Measures

Actual 2006

Actual 2007

Projected 2008

Proposed 2009

Planned 2010

Revenue $233,757 $230,383 $232,000 $250,000 $250,000

Fee Increases

The Clear Creek RV Park has had the same fee structure for the past two budget cycles or four years. Professionals in the industry such as Trailer Life and Woodalls have suggested the current fee structure is slightly low. In response, the Clear Creek RV Park conducted a fee survey during the month of June, 2008 with the RV Parks in the surrounding metro Denver. The survey indicated that the Clear Creek RV Park is indeed below the norm and approximately 28% below the nearest competitor, Dakota Ridge.

In response, the Clear Creek RV Park is requesting raising fees by 10% for daily site rentals and 10% plus 35% for electricity for monthly rentals. The electrical increase is in response to the anticipated Xcel Energy increase to be instituted late in 2008.

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City Manager

Building Maintenance Tech (3 FT)

Facility Manager

Building Service Tech (1 FT)

Parks & Recreation Director

MUNICIPAL FACILITIES Mission Statement

“The Facilities Maintenance Division of the Parks and Recreation Department will provide quality preventative, routine, and emergency maintenance to all assigned City buildings in a friendly, expedient and fiscally responsible manner.”

The Facilities Maintenance Division provides maintenance for 16 municipal buildings in the City of Golden including the 2007 addition of the new City Shops facility located on Catamount Drive in Golden. Buildings maintained include the Astor House Museum, City Hall, Golden Community Center, Clear Creek History Park, Pioneer Museum, Clear Creek RV Park, Fire Stations (4), Fossil Trace Clubhouse, Police Department, Splash Water Park, Tony Grampsas Gymnasium, City Shops and Public Works.

2007-2008 Accomplishments

Provided quality cleaning services for thirteen municipal buildings in a cost effective manner. Provided timely and quality preventive maintenance and routing on all municipal buildings. Continued the Air Quality program which includes regular carpet and air duct cleaning and quality maintenance of the HVAC Equipment Completed a computerized HVAC program in three City buildings. Initiated the “Green” philosophy in cleaning services. Completed over 800 work requests. Investigation of energy savings programs and devices in HVAC, electrical and building management.

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2009-2010 Goals

1. The division will follow the City’s Sustainability Initiative and implement it through out the City’s 12 building sites.

Adhere to the McKinstry Report on sustainability and implement sustainable projects as outlined. With City capital money implement the 10 year Facilities Maintenance Plan using sustainable equipment and materials. Replace preventative maintenance equipment such as fluorescent tubes, switches, pumps, belts with sustainable, energy efficient equipment. Continue the “Green” Custodial Program by using Green Seal Certified Products and Green Cleaning Process and Systems. Staff attendance and certification in Green Cleaning Programs.

2. Maintain fiscal responsibility in all repairs and preventative maintenance.

Use the Colorado State Bid List to purchase materials and equipment at the best rates. Utilize the U.S Communities Program for additional cost savings. Purchase quality equipment that will withstand the requirements and produce longer life. Provide a quality preventative maintenance program to cut down on demand and emergency repairs.Bid out all contract labor on a two year basis to provide the City with the best possible prices for services. Order miscellaneous repair parts such as screws, bolts, anchors and etc in bulk as to reduce parts runs and save on quantity discounts.

3. Encourage and provide division staff training opportunities for improved productivity and cost effectiveness.

Staff will be trained and certified in heavy equipment operation. Staff will be trained on all uses of the Proteus Maintenance Software Program. Staff will be trained on the use and maintenance of the fire alarm systems through out the City. New hires will be hired by specialties. ie: HVAC, electrical, plumbing certified.

4. Implement the “Proteus” Maintenance Software Program.

Input all the City of Golden maintenance information into the program. Input vendor list into the program. Transfer all City of Golden work orders into the Proteus program categorized by demand, preventative or emergency. This will be a daily operation.

5. Increase equipment inventory in order to take on more additional duties in a safe manner. Through the purchase of this equipment contract labor will be utilized less and work will be performed in a timelier manner.

Purchase in-house welding equipment for minor welding repairs.

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Page 152 City of Golden 2009/2010 Biennial Budget

Install a boom hoist of the 1 ton maintenance truck to lift heavy objects to decrease the possibility of injury. Add a portable torch outfit into the fleet for on-site repairs. Purchase and install boom hoist at the Splash Water Park for heavy pump removal.

Municipal Facilities Budget

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Salaries & Benefits 57,887$ 77,066$ 87,912$ 97,900$ 105,077$Supplies & Services 218,270 221,770 241,784 261,250 279,692Capital 2,240 779

TOTAL 278,397$ 299,615$ 329,696$ 359,150$ 384,769$

Performance Measures

With the addition of the Proteus Maintenance Software program the Facilities Maintenance Division will make use of the data recorded in 2009. Currently staff is placing the base data in the program. Once the program is in operation the following performance measures will be available.

Maintenance costs per piece of equipment such as Air Handling Units, Pumps, light fixtures and etc. Commissioning of the equipment added through the Energy Audit with McKinstry. Commissioning of the equipment added by the City, ie: Community Center gymnasium lighting.Measurement of productivity per full-time employee (FTE). The number of work orders completed per FTE. Effectiveness of the Preventative Maintenance program

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2009/2010 Biennial Budget

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Page 154 City of Golden 2009/2010 Biennial Budget

OTHER GENERAL FUND DIVISIONS

Insurance The City participates in the Colorado Intergovernmental Risk Sharing Agency (CIRSA) for its self-insurance for property and casualty. Premiums are charged monthly to all funds. The budgeted amount represents the General Fund pro-rated share.

The City is also self-insured for employee health benefits. In 2009, a one-time contribution of $279,800 budgeted in the General Fund to increase the reserves in the Employee Benefits Fund.

Transfer to Other Funds Transfer to other funds includes transfers to Capital Programs, Cemetery, Splash Aquatic Park, and Community Center funds. $150,000 in 2009 and $155,000 in 2010 of general tax money is to be transferred to the Capital Programs Fund to help cover the annual costs of street improvements. The planned transfer to the Cemetery Operations Fund is $43,500 in 2007 and $68,750 in 2008.

A transfer of funds to the Community Center of $429,600 in both 2009 and 2010 is planned to subsidize operations. The Community Center cost recovery rate is approximately 70%, which is similar to like facilities in surrounding communities. Debt service for the Community Center is paid out of the 1% Sales and Use Tax Capital Improvement Fund as approved by voters in 1991.

Operating revenues and expenses at the Cemetery and Splash Aquatic Park can vary annually depending on demand for services and weather respectively. A transfer of funds to the Cemetery Fund of $15,000 each year and to the Splash Aquatic Park Fund of $20,000 in 2009 and $30,000 in 2010 are budgeted to cover any operating shortfall and will be transferred if necessary.

GURA The Golden Urban Renewal Authority (GURA) was established in 1989 and receives the incremental increase in sales and property taxes within the district over that base year. Because of the success of the downtown redevelopment, $510,200 in sales tax increment is budgeted to be paid to GURA in 2009, with $522,900 budgeted for 2010.

Outside Programs The 2009 and 2010 Budgets contain $18,000 and $20,000 respectively for the Seniors Resource Center for transportation assistance.

Per the annexation agreement, and because of the overlap of fire protection services between the City and the Fairmount Fire Protection District, the City refunds a portion of the City’s property tax, equivalent to the Fairmount property tax, to the affected properties. The 2009 budget is for a partial refund of $210,000, with the full refund of $436,800 budgeted in 2010.

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Public Works Administration Building Expansion

The public works building has suffered from extremely overcrowded conditions and inefficient office space for a number of years. The 2009 budget anticipates using General Fund surplus to pay for the design and pre-construction work to expand the facility. Due to the current economic situation, construction is delayed until revenues are sufficient to meet projections and Council approves the use of surplus fund balance for the expansion.

OTHER GENERAL FUND DIVISIONS

Account DescriptionActual2006

Actual2007

Projected2008

Adopted 2009

Planned 2010

Insurance 165,000$ 163,500$ 166,500$ 446,300$ 166,500$

Transfers to Other Funds 594,055 1,139,874 568,454 894,400 629,600

GURA 446,316 505,870 497,800 510,200 522,900

Outside Programs 14,000 15,000 228,000 456,800

PW Admin Bldg Expansion 50,000 75,000

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MA

NA

GER

IAL

ENTER

PR

ISE FUN

DS

MANAGERIAL ENTERPRISE FUNDS

Enterprise Funds are used to account for operations that are fi nanced and operated in a mannersimilar to private business enterprises, where the intention of City Council is to recover the costs of providing goods or services primarily through user charges; or where City Council has decided that periodic determination of net income is appropriate for accountability purposes.

The Community Center Fund accounts for the revenues, daily operations and programs, and capital expenses for the City’s full-service Community Center that opened on October 1, 1994. Funding is largely derived from fee revenue.

The Cemetery Operations Fund accounts for the revenues, daily operations, and capital expenses of the City’s Cemetery located on the corner of Ulysses Street and 6th Avenue. Funding is derived from fee revenue and an operational subsidy from the General Fund and Cemetery Perpetual Care Fund.

The Splash Aquatic Park Fund accounts for the revenue and daily operations for the City’s Family Aquatic Park that opened summer 2002. Funding is largely derived from fee revenue.

The Fossil Trace Golf Course Fund will account for the revenue and daily operations for the City’s Golf Course that opened fall 2003. Funding is largely derived from fee revenue.

The Rooney Road Sports Complex Fund will account for the revenue and daily operations for the City’s Sports Complex expected to open Spring 2007. Funding is largely derived from fee revenue.

None of the above funds may meet the defi nition of Enterprise Funds according to the TABORAmendment to the Colorado Constitution, but nevertheless, City Council believes these fundsshould be managed as if they were self-supporting enterprises.

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2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010COMMUNITY CENTER FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PROPOSEDBUDGET

2010

REVENUES:

Punch Cards 192,582 240,482 250,000 250,000 255,000 280,000Daily Admissions 192,387 221,507 240,000 260,000 265,000 285,000Charter/Annual Membership 240,751 255,576 280,000 280,000 280,000 290,000Program Fees 369,830 448,793 400,000 480,000 490,000 505,000Community Center Aquatics 60,372 93,253 100,000 90,000 94,000 94,940Pro Shop 9,245 11,172 13,000 13,000 13,000 13,000Facilities Rentals 84,906 93,027 90,000 94,000 98,000 104,000Vending & Miscellaneous (111,128) 3,547 6,000 5,500 6,000 6,000Advertising in Rec. Brochure 8,067 9,115 13,000 10,000 10,000 10,000Senior Special Activities 5,791 7,536 6,800 6,500 6,800 6,800Interest 7,071 9,250 500 6,500 5,000 10,138Xfer from General Fund-Operations 399,055 364,300 430,200 430,200 429,600 429,600Xfer from SUT Capital Fund - - 76,000 76,000 65,000 65,000Xfer from Medical Benefits 300 800 800 800 800 800

TOTAL NEW REVENUES 1,459,229 1,758,358 1,906,300 2,002,500 2,018,200 2,100,278

OPERATING EXPENDITURES:

Community Center 1,694,150 1,782,433 1,951,200 1,937,852 2,027,814 2,091,352

TOTAL EXPENDITURES 1,694,150 1,782,433 1,951,200 1,937,852 2,027,814 2,091,352

(Use)/Accumulation of Surplus Funds (234,921) (24,075) (44,900) 64,648 (9,614) 8,926

ENDING AVAILABLE RESOURCES 11,265 (12,810) (57,710) 51,838 42,224 51,150

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Page 158 City of Golden 2009/2010 Biennial Budget

GOLDEN COMMUNITY CENTER

The Golden Community Center (GCC) opened its doors in 1994 and is now a 71,483 square foot building after a 2006/2007 renovation. GCC offers programs for the entire Golden community from older adults, teens and tots, to swimmers, weight lifters and artisans. The two-story structure features the Front Porch lounge for older adult activities, a six lane lap pool, a leisure pool and sauna, 2 dance/fitness rooms, a full fitness area including top-of-the-line free weight and cardiovascular equipment, a bouldering and climbing wall, a large gym with two courts and an elevated track, craft and meeting rooms, plus a 3,702 square foot community room highlighted by a catering kitchen and outside deck overlooking beautiful Lookout Mountain.

In 2001, additional recreation facilities were added to the area in Arvada and Wheat Ridge. This caused a decline in attendance at the Golden Community Center. After completion of the renovation in early 2007, attendance figures have increased as expected with new amenities and additional space to offer more specialty classes and programs.

City Manager

*Salaries and benefits associated with management are charged to the Parks and Recreation Administration account in the General Fund.

2009-2010 Goals

Improve community feedback systems. Improve Market Analysis & Understanding Improve Operating Efficiency Develop Division Teamwork

City Manager

Parks and Recreation Director*

Recreation Manager

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2009/2010 Biennial Budget

COMMUNITY CENTER

Account Description Actual 2006

Actual 2007

Projected 2008

Proposed 2009

Planned 2010

Salaries & Benefits 938,142$ 1,012,019$ 1,064,682$ 1,105,641$ 1,159,371$ Supplies & Services 703,943 743,989 797,170 857,173 866,981 Capital & Equipment 52,065 26,425 76,000 65,000 65,000

TOTAL $ 1,694,150 $ 1,782,433 $ 1,937,852 $ 2,027,814 $ 2,091,352

Performance Measures

Operating Efficiency/ Cost recovery Monitor Golden Community Center Facility Use (Daily Admission, Punch Cards, Membership., total) Monitor Program Participation (age breakout= 0-6; 7-17; 18+, Senior )

Actual2006

Actual2007

Projected2008

Projected2009

Projected2010

Cost Recovery 73% 79% 78% 77% 79%

Breakout Information:

Daily Admissions Punch Card Membership

41,83864,50053,600

48,94080,33762,763

53,87795,40271,195

55,000100,00078,300

55,500100,00086,130

Total Attendance 159,938 192,040 220,474 233,300 241,630

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2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010THE SPLASH FAMILY AQUATIC PARK

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PROPOSEDBUDGET

2010

REVENUES:

Daily Admissions 228,963 265,537 245,000 238,600 265,000 267,650Stamp Cards 37,682 27,535 32,000 27,700 35,000 35,350Seasonal Memberships 6,073 7,938 8,000 9,000 9,000 9,100Concessions 75,732 92,124 82,400 69,500 72,000 72,000Merchandise Sales 2,701 3,056 3,000 2,500 3,000 3,100Facility Rentals 15,886 23,651 16,500 8,100 15,000 15,450Miscellaneous Revenue 117 - - - - - Interest 298 2,656 300 1,200 1,200 600Transfer from Community Center 20,000 - - - - - Transfer from General Fund 55,000 - 25,200 - 20,000 30,000

TOTAL REVENUES 442,452 422,497 412,400 356,600 420,200 433,250

OPERATING EXPENDITURES:

Family Aquatic Park 407,119 361,064 415,457 383,153 428,317 447,352

TOTAL EXPENDITURES 407,119 361,064 415,457 383,153 428,317 447,352

(Use)/Accumulation of Surplus Funds 35,333 61,433 (3,057) (26,553) (8,117) (14,102)

ENDING AVAILABLE RESOURCES (5,349) 56,084 53,027 29,531 21,414 7,312

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Page 162 City of Golden 2009/2010 Biennial Budget

THE SPLASH AQUATIC PARK City of Golden residents and the surrounding community enjoy sun time at the largest water park in Jefferson County, The Splash Aquatic Park. The City of Golden opened Splash on June 1, 2002, and operates the park from Memorial Day weekend to Labor Day weekend. Splash employs approximately 60 staff members seasonally. Splash is a slide-filled water park located on Illinois Street next to the Fossil Trace Golf Club in Golden and offers amenities for children and adults alike including an inner-tube slide, a body slide, a sand box, a 8 lane 25-meter lap pool with a diving board, bustling activity pool complete with fountains, wading areas and a 500-gallon bucket that dumps every 5 minutes to the joy of the swimmers playing under it. Although coolers are welcome at the Splash for family picnics, the Splash Concessions Stand remains successful with its extensive and reasonably priced menu which changes every summer.

Full-time Part-time Seasonal.25 - Aquatic Supervisor 0 90 – Lifeguard staff, Cashier staff Food & Beverage staff Maintenance staff Managers

*Management costs associated with the Splash are charged to the Parks and Recreation Administration account in the General Fund and are included as part of the administrative fee charged to the Splash from the General Fund.

City Manager

Facilities Manager*

Parks and Recreation Director*

Aquatics Supervisor

Splash Supervisor(s)

Food & Beverage Manager

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2009/2010 Biennial Budget

2007-2008 Accomplishments

Awarded 2007 Best Place for Families by Kids Pages Magazine.Completed re-evaluation of fee structure to offer affordable prices but also cover operating

costs.

2009-2010 Goals

Improve community feedback systems. Improve market analysis and understanding of client base.Improve operating efficiency.Maintain all amenities in excellent condition Develop strong division teamwork.

SPLASH AQUATIC PARK

Account DescriptionActual2006

Actual2007

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 172,663$ 146,799$ 147,539$ 159,663$ 165,506$Supplies & Services 231,616 214,265 233,679 254,654 267,846Capital & Equipment 2,840 1,935 14,000 14,000

TOTAL $ 407,119 $ 361,064 $ 383,153 $ 428,317 $ 447,352

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2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010CEMETERY OPERATIONS FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PROPOSEDBUDGET

2010

REVENUES:

Cemetery Plot Sales 121,435 173,325 136,000 147,250 147,400 150,000Cemetery Open/Close & Vault Setting 131,735 146,395 134,000 134,000 137,000 140,000Memorial Setting 25,395 24,135 24,500 24,500 24,700 25,000Columbarium Fees 17,920 12,450 15,000 17,100 16,000 16,500HeadstoneMarker Sales - 26,263 18,000 27,000 30,000 30,000Miscellaneous - 10,000 10,000 10,000 10,000 10,000Interest 7,257 7,681 4,900 4,900 4,700 5,400Transfer in from General Fund 20,000 33,500 56,050 15,000 15,000 15,000Transfer in from Perpetual Care 2,600 33,500 56,050 15,000 15,000 15,000Transfer from Medical Benefits - 1,000 1,000 1,000 1,000 1,000

TOTAL REVENUES 326,342 468,249 455,500 395,750 400,800 407,900

OPERATING EXPENDITURES:

Cemetery Operations 415,479 449,075 489,500 393,370 404,328 417,804

TOTAL EXPENDITURES 415,479 449,075 489,500 393,370 404,328 417,804

(Use)/Accumulation of Surplus Funds (89,137) 19,174 (34,000) 2,380 (3,528) (9,904)

ENDING AVAILABLE RESOURCES 89,614 108,788 74,788 111,168 107,640 97,736

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Page 166 City of Golden 2009/2010 Biennial Budget

CEMETERYApproximately 60 acres, the Golden Cemetery, located at 755 Ulysses Street, has seen many capital improvement projects in recent years and continues to strive as a first class facility which serves as the final resting place for many Golden residents. The Cemetery has been owned and operated by the City of Golden since 1873. Historic notables buried here include Capt. George West. West was one of the founders of Golden and also founded the Colorado Transcript newspaper in 1866. This newspaper, now known as the Golden Transcript, is still in publication today. Seth Lake, builder of the Astor House Hotel in 1867, is also buried in the Golden Cemetery. Many other pioneers and characters of the early west are at rest in the Golden Cemetery.

The Cemetery functions to provide outstanding customer service at a highly professional level to individuals under intense emotional stress; to establish high standards of professional excellence to assist families, companies and others conducting business with the cemetery; and to maintain the grounds to render an atmosphere of dignity, respect and beauty to memorialize those interred there.

Full-time Seasonal Cemetery 3 4

2007-2008 Accomplishments

Completed Phase 3 and 4 of the Cemetery block marker project Completed Phase 5 of the Cemetery road paving project Completed Install a 64 Niche Columbarium in the Cremation Garden

2009 Goals

Sell out 2008 Niche Columbarium Design new cremation garden Reduce fuel expenditures by 2% over 2008 GPS all grave sites and create internet location system for public access

City Manager

Parks, Cemetery and Forestry Manager

Parks and Recreation Director

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Page 167 City of Golden

2009/2010 Biennial Budget

Phase 5 – Cemetery block marker project Complete recopy of Cemetery field books of entire Cemetery Develop and begin citizen customer survey Implement fuel reduction strategies Begin remodel of cemetery office building.

2010 Goals

Install new Columbarium in 2009 newly designed Cremation Garden Reduce fuel expenditures by an additional 3% over 2009. Install memorial ossuary. Complete Phase 6 of Cemetery block marker project. Continue customer survey.

CEMETERY

Account DescriptionActual2006

Actual2007

Revised2008

Projected2008

Proposed2009

Planned2010

Salaries & Benefits 233,447$ 233,913$ 253,400$ 193,450$ 169,980$ 178,175$Supplies & Services 154,552 180,220 191,100 164,920 199,348 204,629Capital & Equipment 27,480 34,942 45,000 35,000 35,000 35,000

TOTAL $ 415,479 $ 449,075 $ 489,500 $ 393,370 $ 404,328 $ 417,804

Performance Measures

Actual 2006

Actual 2007

Projected 2008

Projected 2009

Projected 2010

No. of Plots Sold 150 118 110 115 115

Perpetual Care Contracts Sold 165 141 120 125 130

Number of Vault Open and Closes 170 158 149 150 155

Number of Columbarium Niches Sold 14 19 13 15 15

Reduce fuel consumption from 2008 levels N/A N/A N/A By 2% By 3%

Customer Service Survey Satisfaction Results N/A N/A N/A 90% 92%

`

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2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010FOSSIL TRACE GOLF CLUB FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PROPOSEDBUDGET

2010

REVENUES:

Greens Fees 1,854,794 1,930,244 1,925,375 1,900,000 1,875,005 2,039,985Cart Fees 450,477 546,028 558,450 546,000 545,000 545,000Driving Range 152,102 154,302 155,000 168,000 175,000 175,000Merchandise 393,046 431,272 425,000 405,000 410,000 420,000Lessons 53,157 65,910 60,000 64,000 65,000 70,000Food & Beverage 99,999 120,052 102,000 130,000 132,500 135,000Misc 82,245 87,829 75,000 75,000 78,750 82,688Interest 27,028 42,570 15,500 24,000 7,173 13,573Gain/Loss on Sale of Equipment - 123,979 - - - - Transfer from Medical Benefits 500 500 500 500 500 500

TOTAL REVENUES 3,113,348 3,502,686 3,316,825 3,312,500 3,288,928 3,481,746

OPERATING EXPENDITURES:

Pro Shop 1,183,115 1,273,776 1,314,124 1,264,275 1,308,440 1,351,720Maintenance 913,588 941,553 1,085,025 1,071,258 1,099,176 1,131,706Golf Course Capital - 683,242 - - - -

OTHER EXPENDITURES:

Debt Service Trans to SUT Fund 785,200 853,700 880,500 880,500 908,200 936,600Transfer to Medical Benefits Fund - - - - 19,600 -

TOTAL EXPENDITURES 2,881,903 3,752,271 3,279,649 3,216,033 3,335,416 3,420,026

(Use)/Accumulation of Surplus Funds 231,445 (249,585) 37,176 96,467 (46,488) 61,720

ENDING AVAILABLE CASH 427,144 177,559 214,735 274,026 227,538 289,258

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Page 170 City of Golden 2009/2010 Biennial Budget

FOSSIL TRACE GOLF CLUB

The City of Golden opened an award-winning 18-hole public golf course in July 2003. The Fossil Trace Golf club rests at the foot of the Rocky Mountains and features several holes routed through an abandoned clay pit mine. The par 72 layout design of the golf course is 6,831yrds and comes with a variation of swamp wetlands, flood-protection retention ponds, a former dump ground for fly ash and an old clay mine site. The views are majestic, the course unique, and the club house beautiful. There simply is not another course like this in the Denver Metro area, let alone Colorado.

The Fossil Trace staff is dedicated to creating an exceptional golfing experience by focusing on the expectations of the guests. Fossil Trace has been awarded numerous awards including 2006-9 4.5 Stars Best Places to Play – Golf Digest; 2007-9 Best Course in Denver – www.espn.com ; Most Admired Golf Operators - Jim Hajek – Golf Inc. Magazine.

A separate golf club enterprise fund was established to account for the operating revenues and expenditures of the golf club.

Full-Time Part-Time Golf Club 3 50 Golf Course 5 25 8 75

*Salaries associated with the administrative management of the golf course are charged to the Parks and Recreation Administration account in the General Fund and charged back to the golf course as part of the General Fund administration fee.

2007-2008 Accomplishments:

Fossil Trace continues to “sell out” of virtually all 18 hole tee times 7 days a week; the ONLY golf course in Colorado to do so.Won numerous awards in local and national publications including Colorado Golf Magazine, Colorado Avid Golfer, Golf Digest, Golfweek, ESPN.com.

City Manager

Golf Club Professional

Parks and Recreation Director*

Golf Course Superintendent

Food and Beverage Operator

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2009/2010 Biennial Budget

Appeared in numerous publications around the country and world including Travel and Leisure Golf, Texas Outdoor, Arizona Fairways and in Sweden.Have entertained guests from all 50 states and 34 countries from all 4 corners of the world.Re-sod several bunker faces as part of our maintenance program.Completed drainage work on holes #3, and #17.Completed renovation of the chipping green bunker.Completed various maintenance projects in the shop area.Planned and constructed the Wedding Ceremonial Garden.Planned and constructed a new putting green by the first tee box..

2009-2010 Goals:

1. Financial Revenues Ensure a balance of play for all guests by strategically booking events, clubs, outings and general play to maximize revenue. Maximize merchandise profit percentage by purchasing closeouts, bulk programs to balance full wholesale/retail items. Enhance merchandise gross sales w/proper selection of merchandise, establishing a stronger demo and club fitting program and incentives the staff to sell. Maintain player numbers through proper promotions, advertising, expansion of our email database (including online TT guests), booking of events and creating programs to fill open slots (typically late day)

2. Financial Expenses

Trim expense budgets by analyzing part time payroll, creating more efficient use of staff time Greater efficiency of use of funds from operating supplies Greater efficiency of use of funds from marketing

3. Restaurant Operations

Improve the quality of service from the F&B staff Enhance the consistency of food and menu options Establish Three Tomatoes Steakhouse as an area leader for F&B opportunities

o Promote and enhance the “Dinner Menu” o Proper advertising and F&B promotion in appropriate venues

4. Programs – Lessons and Tournaments

Continue to improve our tournament program o Balance public play and date/time of events o Improve the tournament pack, less cost, greater perceived value o Include more staff in the “tournament coordinator” position to balance work done

and spread the responsibilityContinue to improve the opportunities for lessons

o Create a “off season” elementary school “in school” program

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Page 172 City of Golden 2009/2010 Biennial Budget

o Increase the opportunities for youth and women for classes o Ensure overflow students and taken care of – new classes o Include more opportunities for video instructiono Improve and enhance the “club fitting” portion of instruction

5. Enhance Guest’s Golf Experience

Continue to survey guests on their overall “golf experience” Continue improvements to golf course, practice areas and building Begin w/a “yes” until all possibilities are exhausted before resulting to a “no” Continue toward consistency of staff and what they say/do

o Training Issue o Constant Vigilance

Performance Measures

The Golf Maintenance Division is working had to improve the effectiveness and efficiency at Fossil Trace. As we strive to provide the best playing conditions for our customers, we are setting in place some performance measures to help us reach our goals. It is our intent to use the data we collect as a tool to assist us in decision making, whether it be budgeting, water management, fuel and energy use or time management for our staff.

Maintain where we currently are with continued improvements to service and consistency of golf experience for our guests.

Green speeds through GCIS Fertilizer usage on the greens (specifically Nitrogen amounts). Fuel usage. Bunker sand purchases and winter sand loss. Ball marks on the greens – lessening the impact.

FOSSIL TRACE GOLF CLUB PRO SHOP

Account Description Actual 2006

Actual 2007

Projected 2008

Adopted 2009

Planned 2010

Salaries & Benefits 514,114$ 541,142$ 531,575$ 571,500$ 594,987$ Supplies & Services 653,613 732,634 698,584 722,840 736,733 Capital & Equipment 15,388 683,242 34,116 14,100 20,000

TOTAL $ 1,183,115 $ 1,957,018 $ 1,264,275 $ 1,308,440 $ 1,351,720

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MAINTENANCE

Account Description Actual 2006

Actual 2007

Projected 2008

Adopted2009

Planned 2010

Salaries & Benefits 550,928$ 545,740$ 599,990$ 635,700$ 664,687$ Supplies & Services 268,563 251,474 276,694 333,476 343,019 Capital & Equipment 94,097 144,339 194,574 130,000 124,000

TOTAL $ 913,588 $ 941,553 $ 1,071,258 $ 1,099,176 $ 1,131,706

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Page 175 City of Golden

2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010ROONEY ROAD SPORTS COMPLEX FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Recreation Fees - - 56,375 38,000 57,785 59,229Capital Replacement Fees - 6,624 20,800 20,800 21,632 22,497Grants/Donations (a) 165,000 2,998,625 - - - - Interest - 16,399 3,100 12,000 7,788 12,224Transfer from Open Space Fund 25,000 25,000 25,000 25,000 50,000 50,000

TOTAL REVENUES 165,000 3,021,648 105,275 95,800 137,205 143,950

OPERATING EXPENDITURES:

Outdoor Recreation - 24 58,800 37,080 58,860 60,390

OTHER EXPENDITURES:

Capital 527,054 2,363,384 - 48,000 - -

TOTAL EXPENDITURES 527,054 2,363,408 58,800 85,080 58,860 60,390

(Use)/Accumulation of Surplus Funds (362,054) 658,240 46,475 10,720 78,345 83,560

TOTAL ENDING RESOURCES (341,158) 317,082 363,557 327,802 406,147 489,707

Capital Reserve 25,000 317,082 362,882 314,882 386,514 459,011

ENDING AVAILABLE RESOURCES (366,158) 0 675 12,920 19,633 30,696

(a) For 2007, $2,425,000 from Jefferson County, $450,000 from Table Mountain Soccer Association

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ROONEY ROAD SPORTS COMPLEX FUND

In 2007 the Rooney Road Sports Complex Phase One was completed. The complex will include as many as 15 separate fields, primarily for youth soccer, lacrosse, or field hockey. The complex currently offers 5 synthetic turf fields. The fields at Rooney Road were built over a recapped landfill in compliance with the Environmental Protection Agency (EPA). Due to high demand for field space in the area, Jefferson County, the City of Golden and Table Mountain Soccer Association along with a grant from Gates Rubber Company contributed to the development.

The City of Golden has leased the land at Rooney Road from Jefferson County and signed a Joint Use Agreement with Table Mountain Soccer Association. Operations and rental coordination are managed by the City of Golden while Table Mountain Soccer Association covers the operations expenses for staff and supplies while earning first choice for field space. The project serves youth of central Jefferson County regardless of economic status and the fields are available for public use when they are not scheduled. The further development of Rooney Road will be in accordance with popularity and funding. Another environmentally friendly aspect of the project is the use of synthetic turf fields which may be used more heavily than natural grass and use much less water and chemicals. In addition, studies show lower injury rates on synthetic turf fields

Full-time Part-time Seasonal.50 – Field and Facility 0 4 – Maintenance staff

Coordinator

2007-2008 Accomplishments

Phase one construction was complete in 2007 A dedication was held in May 2008 to celebrate the new fields with the community A fee structure has been established; users of the facility cover the cost of operations and contribute toward future capital improvements.

City Manager

Facilities Manager

Parks and Recreation Director

Field and Facility Coordinator

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2009-2010 Goals

Increase participation at the complex Continue to operate as a self-supporting enterprise To continue developing strong partnerships with Table Mountain Soccer Association and Jefferson County for the benefit of the Rooney Complex, Golden citizens and the surrounding community.

ROONEY ROAD SPORTS COMPLEX FUND

PARKS DIVISION

Account Description Actual 2006

Actual 2007

Revised 2008

Projected 2008

Proposed 2009

Planned 2010

Salaries & Benefits --$ --$ --$ --$ --$ --$ Supplies & Services -- -- -- -- -- -- Capital & Equipment 527,054 2,363,384 -- 48,000 -- --

TOTAL $ 527,054 $ 2,363,384 --$ $ 48,000 --$ --$

OUTDOOR RECREATION DIVISION

Account Description Actual 2006 Actual 2007 Revised

2008Projected

2008Proposed

2009Proposed

2010Salaries & Benefits --$ --$ 30,300$ 19,930$ 31,300$ 31,991$ Supplies & Services -- 24 25,100 13,750 24,160 24,999 Capital & Equipment -- -- 3,400 3,400 3,400 3,400

TOTAL --$ $ 24 $ 58,800 $ 37,080 $ 58,860 $ 60,390

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UTILITY

FUN

DS

UTILITY FUNDS

Enterprise Funds are used to account for operations that are fi nanced and operated in a manner similar to private business enterprises, where the intention of City Council is to recover the costs of providing goods or services primarily through user charges; or where City Council has decided that periodic determination of net income is appropriate for accountability purposes.

The Water Fund accounts for the provision of water services to City residents. All activities necessary to provide such services are accounted for in this fund including administration, operations, fi nancing and related debt service, and capital programs. Funding is derived from charges for actual water used.

The Wastewater Fund accounts for the provision of wastewater (sewer) services to City residents.

All activities necessary to provide such services are accounted for in this fund including administration, operations, fi nancing, and capital programs. Funding is derived by charges assessed based on water usage.

The Drainage Utility Fund accounts for capital improvements for storm water drainage, administration, and related debt service. Funding is derived by a charge for all impervious property within City limits. This fund was established in 1998.

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COMPARATIVE BUDGET CHANGES 2006 - 2010WATER FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Water Sales 4,069,872 4,121,119 4,348,050 4,350,000 4,393,500 4,659,300Water Sales - Coors 575,332 494,594 424,200 500,000 505,000 510,050Meter Sales 8,485 56,640 12,000 6,000 12,000 12,000Leak Refunds (2,414) (2,044) - (3,000) - - Misc Service Charges 9,565 9,152 10,000 8,000 8,000 8,000Water Late Charges 9,020 9,945 - 10,000 10,000 10,000Miscellaneous 68,310 (6,038) 60,900 74,000 20,000 20,000 Water Development Fees 923,967 1,085,308 1,787,300 658,490 1,185,300 1,576,300Fees in Lieu of Water Rights 57,917 186,955 25,000 150,000 50,000 50,000Temp Fire Hydrant Rental 123,116 38,582 - 30,000 25,000 25,000 Sale of Water Rights - 500,000 1,375,000 1,500,000 - - External Borrowing 5,790,000 - - - - - Guanella Mining Royalties 50,851 44,111 50,000 50,000 50,000 50,000Guanella Storage Leases 79,000 200,914 85,000 201,000 200,000 200,000Leased Water Rights 112,298 5,772 - 7,000 - - Raw Water Irrigation Revenue 27,580 1,820 - - - - 6260 Pump Station Reimbursements 228,300 54,748 57,250 57,250 57,250 - Transfer from Medical Benefits 6,100 6,100 6,100 6,100 6,100 6,100 Interest 58,704 220,132 73,500 165,000 151,500 257,350

TOTAL REVENUES 12,196,003 7,027,810 8,314,300 7,769,840 6,673,650 7,384,100

EXPENDITURES:

Operations 3,283,014 3,449,757 3,478,735 3,527,697 3,832,039 3,939,041Capital Programs 6,276,985 4,679,963 3,473,599 3,623,599 4,484,160 4,294,660

TOTAL EXPENDITURES 9,559,999 8,129,720 6,952,334 7,151,296 8,316,199 8,233,701

(Use)/Accumulation of Surplus Funds 2,636,004 (1,101,910) 1,361,966 618,544 (1,642,549) (849,601)

ENDING AVAILABLE RESOURCES 2,997,825 1,895,915 3,257,881 2,514,459 871,910 22,309

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Page 180 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010WATER FUND OPERATIONS

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Water Sales 4,069,872 4,121,119 4,348,050 4,350,000 4,393,500 4,659,300Water Sales - Coors 575,332 494,594 424,200 500,000 505,000 510,050Meter Sales 8,485 56,640 12,000 6,000 12,000 12,000Leak Refunds (2,414) (2,044) - (3,000) - - Misc Service Charges 9,565 9,152 10,000 8,000 8,000 8,000Water Late Charges 9,020 9,945 - 10,000 10,000 10,000Miscellaneous 32,839 (47,027) 60,900 40,000 20,000 20,000Interest 38,550 82,026 48,500 45,000 33,500 39,000Temp Fire Hydrant Rental 123,116 38,582 - 30,000 25,000 25,000Lease Income 5,900 5,900 - 5,900 - - Water Customer Rebate (70) (74) - (100) - - Transfer from Medical Benefits 6,100 6,100 6,100 6,100 6,100 6,100

TOTAL REVENUES 4,876,295 4,774,913 4,909,750 4,997,900 5,013,100 5,289,450

OPERATING EXPENDITURES:

Environmental Quality 385,253 428,998 490,700 455,500 501,099 524,611Treatment 1,250,157 1,211,365 1,232,400 1,306,075 1,445,983 1,502,422Prevention & Maintenance 578,475 662,892 634,100 654,587 703,807 743,501Legal Fees 221,471 334,307 200,000 200,000 200,000 200,000Water Rights & Administration 847,658 812,195 921,535 911,535 981,150 968,507Transfers to Water Capital 750,000 1,500,000 1,600,000 1,600,000 1,800,000 1,800,000

TOTAL EXPENDITURES 4,033,014 4,949,757 5,078,735 5,127,697 5,632,039 5,739,041

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2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010WASTEWATER FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Wastewater Charges 1,434,764 1,409,643 1,485,110 1,420,000 1,434,200 1,448,542Wastewater Development Fees 155,904 211,946 299,100 110,180 198,300 263,720 Misc Service Charges & Pretreatment Fees 25,965 20,713 34,000 34,000 34,000 34,000 SUT Interfund Loan Interest - 81,200 65,000 57,800 57,800 - Transfer In 5,000 4,000 4,000 4,000 4,000 4,000 Interest 78,224 61,160 129,080 68,400 33,400 83,167

TOTAL REVENUES 1,699,857 1,788,662 2,016,290 1,694,380 1,761,700 1,833,429

EXPENDITURES:

Operations 1,587,880 1,564,729 1,760,350 1,751,220 1,764,887 1,719,758Capital Programs 1,230,186 671,276 964,420 964,420 370,000 380,000

TOTAL EXPENDITURES 2,818,066 2,236,005 2,724,770 2,715,640 2,134,887 2,099,758

(Use)/Accumulation of Surplus Funds (1,118,209) (447,343) (708,480) (1,021,260) (373,187) (266,329)

ENDING AVAILABLE RESOURCES 3,768,605 3,321,262 2,612,782 2,300,002 1,926,815 1,660,487

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Page 182 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010WASTEWATER OPERATIONS

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Wastewater Charges 1,434,764 1,409,643 1,485,110 1,420,000 1,434,200 1,448,542Misc Service Charges & Pretreatment Fees 25,965 20,713 34,000 34,000 34,000 34,000 SUT Interfund Loan Interest - 81,200 65,000 57,800 57,800 - Interest 67,235 46,533 60,000 53,400 17,400 66,567 Transfer from Medical Benefits 5,000 4,000 4,000 4,000 4,000 4,000

TOTAL REVENUES 1,532,964 1,562,089 1,648,110 1,569,200 1,547,400 1,553,109

OPERATING EXPENDITURES:

Environmental Quality 223,635 214,668 271,600 227,570 284,411 298,951 Prevention & Maintenance 334,942 378,703 409,650 404,550 451,426 471,507 Treatment & Administration 1,029,303 971,358 1,079,100 1,119,100 1,029,050 949,300 Transfer to Sewer Capital 1,200,000 200,000 200,000 200,000 75,000 75,000

TOTAL EXPENDITURES 2,787,880 1,764,729 1,960,350 1,951,220 1,839,887 1,794,758

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2009/2010 Biennial Budget

UTILITIES DIVISION

The Utilities Division is responsible for the operation, repair, and maintenance of the City’s water distribution and wastewater collection system. The maintenance section focuses on preventative maintenance programs to provide better maintenance at the outset, with the goal of further reducing the number of sewer back-ups and water main breaks. The Utilities Division is responsible for supplying raw water to the treatment plant and distributing treated potable water to the citizens of Golden. This begins as far away as Argentine Pass and includes a collection system, tunnel and reservoirs. The operation and water rights administration of these off site systems are an integral part of the division’s duties.

Full-time Part-time Utility Employees 9 -

2008 Accomplishments

Continued integration of assets, preventative maintenance and GIS in CarteGraph. All work recorded in CarteGraph Reduced water usage through water line repair and replacement Operation of Guanella Reservoir, Upper and Lower Urad Reservoirs to optimize use of available water. Operation of Viddler Tunnel and collection system resulted in 800 + - acre feet of water made available for our use. Water rights administration and record keeping fully in-house. Construction oversight and management of 2008 Utility Replacement Program Construction oversight, management and startup of Sanitary Sewer Flow Monitoring.Inspect two water tanks and begin design of new 6000 South Tank.

City Manager

Utilities

Public Works Director

Public Works Deputy Director

WaterTreatment

EnvironmentalServices

Sustainability

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Page 184 City of Golden 2009/2010 Biennial Budget

2009 Goals

Flush all low volume zones and dead-end water main lines on the schedule developed thru CarteGraph.Read all water meters four times during the year. Service seven pump stations, three reservoirs, a collection system, and seven tanks, checking each at lease once per week or as required for water rights administration. Replace ten manholes and fire hydrants. Test 200 meters and replace/repair defective meters. Inspect and recondition two water tanks. Complete design of new 6000 South Reservoir. Complete pump station data transfer in CarteGraph. Revise existing sewer maintenance program to reflect upgrades in system. Create a written Utility Management Program with goals based on asset age, type and outside requirements.

2010 GoalsFlush all low volume zones and dead-end water main lines on the schedule developed thru CarteGraph. Read all water meters four times during the year. Service seven pump stations, three reservoirs, a collection system, and seven tanks, checking each at lease once per week or as required for water rights administration. Replace ten manholes and fire hydrants. Test 200 meters and replace/repair defective meters. Begin construction of new 6000 South Reservoir Begin new video inspection of sanitary system either in house or contract. Expand non-potable irrigation to the Golden Cemetery and the CSM campus.

Performance Measures

Actual 2007 YTD 2008 Projected 2009

Projected2010

Feet of sewer video Inspected

20,000 18,000 25,000 25,000

Feet of sewer jetted 141,500 135,000 190,000 190,000 Number of water main repairs 20 13 15 15Number of sewer repairs 5 6 15 15 Locates cleared 2506 1988 2200 2200 Fire hydrant Inspection 395 629 440 400

Valve Maintenance 167 164 800 1200

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2009/2010 Biennial Budget

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Page 186 City of Golden 2009/2010 Biennial Budget

WATER TREATMENT DIVISION

The Water Treatment Division is dedicated to providing safe drinking water to about 18,000 residents and numerous businesses. It can provide up to 12 million gallons per day on peak usage days. The Water Treatment Plant is staffed 24 hours per day, 365 days per year to ensure optimum water quality and prompt response to any situation that may arise. In addition, the plant must comply with the state engineer’s requirements for use of water rights. Interested individuals are encouraged to visit the water treatment plant for a tour.

Full-time Part-time Water Treatment Plant Employees 8 -

2007-2008 Accomplishments

Capital:In 2007 a three year upgrade of the treatment plant controls system was started. The current Supervisory Control and Data Acquisition (SCADA) hardware is becoming outdated and will not be supported after 2011. Phase I was completed that replaced the leased lines within the distribution system to radios for tank control. The Human Machine Interface (HMI) was upgraded to become more user friendly for the operators and access the vital information for current and future compliance. Phase II is well underway that starts to replace the outdated hardware.Improvements to the treatment residuals handling equipment were made. The sludge drying beltpress was completely overhauled as well as an energy saving variable frequency drive was added to the redundant sludge pump. An engineering study is being conducted on the residual thickener tank that will allow the sludge drying equipment to run more efficiently as well as lessen the recycling of solids back through the treatment process.

City Manager

Public Works Director

Utilities WaterTreatment

EnvironmentalServices

Public Works Deputy Director

Sustainability

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2009/2010 Biennial Budget

Operations: Continued to participate in the Partnership for Safe Water program that helps the treatment plant continue to look for ways to optimize treatment. Golden has been a level III plant since 2001 and will continue to strive to get to Phase IV in the Partnership.Increased non-potable irrigation acreage, diverting water from treatment. This saves treatment costs for this water, but increases unit costs in the plant due to decreased volumes. Purchased an asset and maintenance management software and are currently populating the data to keep track of critical plant assets and maintenance schedules.Rebuilt many critical pieces of equipment without having to use capital money. Standardized the plant Standard Operating Procedures. Held several training classes for Golden staff as well as operators throughout the State making Golden become a leader within the industry. Other outside education to students from elementary to college as well as informative citizens on the importance of clean and safe drinking water.

2009 Goals

Capital:Complete the residuals thickener settling improvements recommended by the engineers.Complete Phase III of the SCADA improvements. This includes automating several functions for more effective and consistent operations. Restructuring the Control Room.

Operations: Facilitate staff development through participation in seminars and conferences. Minimize staff turnover by encouraging/supporting the great existing team attitude.Populate all the plant assets into the asset management program and continue to structure the maintenance program into a preventative maintenance platform instead of reactive.

Performance Measures

2007 YTD 2008 2009 2010 Annual water production (million gallons)

1,191 1122 1,500 1,500

Labor cost per 1000 gallons

0.40 0.43 0.38 0.38

Operating cost per 1000 gallons

1.02 1.12 .90 .90

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Page 188 City of Golden 2009/2010 Biennial Budget

ENVIRONMENTAL SERVICES DIVISION

The ESD is responsible for ensuring the City is in compliance with applicable State and Federal environmental regulations under the Safe Drinking Water Act and the Clean Water Act. Division staff must keep current with changes to state and federal laws in maintaining qualifying stormwater, industrial pretreatment and cross connection control programs. The ESD represents Golden on numerous boards and organizations including the Rocky Mountain Water Quality Analysts Association, Colorado Stormwater Council, Northern Colorado Alliance of Stormwater Coordinators, Colorado Industrial Pretreatment Coordinators Association, Rooney Road Recycling Center Board, the Colorado Backflow Prevention Association, the Backflow Prevention Education Council of Colorado, The Colorado Water Utility Council, The Colorado Department of Health and Environment Drinking Water Regulatory Stakeholder’s Group and the Upper Clear Creek Watershed Association.

The Environmental Services Division also maintains a state certified Water Quality Laboratory for water analysis in both chemistry and microbiology. The laboratory has primary responsibility for all State and Federal monitoring and reporting requirements under the Safe Drinking Water Act. The laboratory also provides sampling and analysis for water treatment plant process control, distribution system water quality monitoring, and monitoring for the City's stormwater management and industrial pretreatment programs

Full-time Part-time Environmental Services Employees 6 -

City Manager

Utilities

Public Works Director

Public Works Deputy Director

WaterTreatment

EnvironmentalServices

Sustainability

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2007-2008 Accomplishments

Renewed City’s MS4 stormwater permit Participated in implementation of Colorado Stormwater Council Begin modeling stormwater data Updated Pretreatment Program Manual Revised pretreatment ordinance to include new EPA regulations and revised local limits Updated pretreatment permits to reflect ordinance changes Created new ‘general permits’ to address mobile washing operations efficiently Completed triennial lead/copper sampling Completed distribution system model for Stage 2 DBP rules Completed first pharmaceutical screening of raw water Relocated the community recycling collection center out of the Splash parking lot to a location that allowed program expansion. At this location, we were able to expand recycling capacity and implement solutions to the chronic overflow problems. Implemented backflow prevention program and integrated data management for the program into CarteGraph.

2009-2010 Goals

Update Monitoring Plan Expand emerging contaminant data base Explore options for a city-wide or community-wide pharmaceutical round up Work with plant operators to optimize ICP analyses provided for plant operations Perform CUMR2 monitoring Participate in Urban Drainage and Flood Control District’s update to the Urban Storm Drainage Criteria Manual Volume III. Participate in the Stormwater Council’s development of standardized guidance and BMPs for construction, good housekeeping and municipal operations. Submit pretreatment program permit renewal application Perform collection system wastewater monitoring for regulated pollutants Evaluate collection system flow monitoring to identify potential sources of inflow and infiltration Expand in-stream monitoring on Clear Creek

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Page 190 City of Golden 2009/2010 Biennial Budget

Performance Measures

Actual2007

Projected2008

Projected2009

Projected2010

Stormwater Inspections 1063 800 850 850

Stormwater Enforcement

25 Orders 7Stopwork

28 Orders 8 Stopwork

25 Orders 5 Stopwork

25 Orders 5 Stopwork

Eco Swat Responses 29* 27* 20 20

Pretreatment Inspections 7 16 60 60

* Indicates the number of reports received and investigated

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Page 191 City of Golden

2009/2010 Biennial Budget

WATER FUND

Water Environmental Quality

Account DescriptionActual2007

Revised2008

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 259,811$ 268,200$ 265,100$ 291,330$ 308,362$Supplies & Services 168,865 221,600 189,900 208,769 215,249Capital & Equipment 322 900 500 1,000 1,000

TOTAL 428,998$ 490,700$ 455,500$ 501,099$ 524,611$

Water Treatment

Account DescriptionActual2007

Revised2008

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 477,443$ 515,000$ 494,800$ 551,500$ 588,681$Supplies & Services 684,219 667,400 761,275 844,483 863,741Capital & Equipment 49,703 50,000 50,000 50,000 50,000

TOTAL 1,211,365$ 1,232,400$ 1,306,075$ 1,445,983$ 1,502,422$

Water Prevention and Maintenance

Account DescriptionActual2007

Revised2008

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 400,477$ 413,100$ 414,900$ 454,060$ 483,094$Supplies & Services 241,306 206,400 225,087 237,747 247,907Capital & Equipment 21,109 14,600 14,600 12,000 12,500

TOTAL 662,892$ 634,100$ 654,587$ 703,807$ 743,501$

Water Legal Fees, Water Rights and Debt Administration

Account DescriptionActual2007

Revised2008

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 32,195$ 3,200$ 3,200$ 3,200$ 3,200$Legal Fees 334,307 200,000 200,000 200,000 200,000Supplies & Services 780,000 918,335 908,335 977,950 965,307Debt Service

TOTAL 1,146,502$ 1,121,535$ 1,111,535$ 1,181,150$ 1,168,507$

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Page 192 City of Golden 2009/2010 Biennial Budget

WASTEWATER FUND

Wastewater Environmental Quality

Account DescriptionActual2007

Revised2008

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 150,106$ 177,900$ 163,720$ 193,100$ 204,418$Supplies & Services 64,240 93,700 63,850 91,311 94,533Capital & Equipment 322

TOTAL 214,668$ 271,600$ 227,570$ 284,411$ 298,951$

Wastewater Prevention and Maintenance

Account DescriptionActual2007

Revised2008

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 266,859$ 275,500$ 272,300$ 302,930$ 322,291$Supplies & Services 102,352 117,750 115,850 131,496 131,706Capital & Equipment 9,492 16,400 16,400 17,000 17,510

TOTAL 378,703$ 409,650$ 404,550$ 451,426$ 471,507$

Wastewater Treatment and Administration

Account DescriptionActual2007

Revised2008

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 1,048$ 4,000$ 4,000$ 4,000$ 4,000$Supplies & Services 970,310 1,075,100 1,115,100 1,025,050 945,300

TOTAL 971,358$ 1,079,100$ 1,119,100$ 1,029,050$ 949,300$

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Page 193 City of Golden

2009/2010 Biennial Budget

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Page 194 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010DRAINAGE UTILITY FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Drainage Utility Fees 777,684 790,264 798,300 798,300 886,900 895,780Transfers - 86,830 - - - - Interest & Miscellaneous (2,225) 51,088 - - - -

TOTAL REVENUES 775,459 928,182 798,300 798,300 886,900 895,780

EXPENDITURES:

Operations 234,116 219,358 229,100 217,820 197,675 260,343Capital Programs 691,316 672,912 552,000 554,008 536,768 651,125

TOTAL EXPENDITURES 925,432 892,270 781,100 771,828 734,443 911,468

(Use)/Accumulation of Surplus Funds (149,973) 35,912 17,200 26,473 152,457 (15,688)

ENDING AVAILABLE RESOURCES (543,287) (507,375) (490,175) (480,903) (328,446) (344,134)

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Page 195 City of Golden

2009/2010 Biennial Budget

DRAINAGE UTILITY FUND

The Drainage Utility is maintained through contract services and Streets Division personnel. In 2004, one Street Department employee was assigned primary responsibility for maintenance and improvements to the City’s drainage system. The Drainage Fund will reimburse the General Fund for Streets Division personnel from the Operations and Maintenance budget.

The City completed the Arapahoe Gulch improvements from Highway 58 to Clear Creek in 2007. In addition, the City cooperated with the Urban Drainage District to construct drop structures and restore storm damage in East Kenney Run adjacent to Fossil Trace Golf Club during 2008. We will continue data collection efforts to enable better tracking of scheduled inspections and maintenance in accordance with our Stormwater Drainage Maintenance Plan.

Full-Time Part-Time Drainage 1 -- 1 0

2007-2008 Accomplishments

Completed the Arapahoe Gulch improvements from Highway 58 to Clear Creek. Inspected all City-maintained drainage facilities and completed all required maintenance on the system. Completed data collection and entry into the asset management system of all privately-maintained storm culverts, inlets, outfalls, manholes, and detention ponds. Worked in conjunction with the Urban Drainage District to repair storm damage and construct drop structures in East Kenney Run adjacent to Fossil Trace Golf Club. Completed the inlet coring program to provide better access to storm inlets for maintenance and inspection activities.

Public Works Director

City Manager

Drainage and Flood Plain Administration

Deputy Director Engineering

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Page 196 City of Golden 2009/2010 Biennial Budget

2009-2010 Goals

In conjunction with Urban Drainage, submit a Letter of Map Revision to FEMA for the Clear Creek Corridor to update the floodplain maps. Submit a Letter of Map Revision to FEMA for the Kenney Run channel due to completion of the detention and the dams on Fossil Trace Golf Club, the channel work completed during the reconstruction of Golden High School and the drop structure completion in the East Fork of Kenney Run. Improve the City’s rating under the National Flood Insurance Program’s Community Rating System from a “9” to a “7”.

Account DescriptionActual2006

Actual 2007Revised2008

Projected2008

Proposed2009

Planned2010

Salaries & Benefits 1,439$ 71,198$ 77,100$ 75,420$ 81,800$ 86,378$Supplies & Services 232,677 148,160 152,000 142,400$ 115,875$ 128,965$Capital & Equipment $ $ 45,000$

TOTAL 234,116$ 219,358$ 229,100$ 217,820$ 197,675$ 260,343$

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CA

PITA

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OV

EMEN

T PLA

N

CAPITAL IMPROVEMENT PLAN

The Capital Improvement Plan is used to account for revenues and expenditures dedicated to capital improvement projects. Under the Charter, each of these capital projects could be appropriated for a multi-year time frame, but it is the practice of City Council to reappropriate funds year-to-year as a way of keeping track of the progress of the various capital projects. Formal appropriation is made only for the budget year (2007) with the next nine years becoming the approved Capital Improvement Plan.

The City manages its capital projects through six different funds:

• The Sales and Use Tax Capital Improvement Fund includes the items paid for with the one cent addition to the City’s sales and use tax rate earmarked for capital improvements approved by the voters in 1991.

• The Capital Fund is for projects and resources that are funded out of general tax revenues through a transfer from the General Fund. Also included are street improvements funded by highway users tax revenue received from the State of Colorado.

• The Open Space Fund includes park land acquisition and development projects funded from the City’s attributable share of Jefferson County’s ½-cent sales and use tax for Open Space.

• The Conservation Trust Fund includes projects restricted to the development or improvement of City parks. Funding is from lottery proceeds received from the State of Colorado.

• The Water Fund capital projects are all formally appropriated as part of the Water Fund and included here for ten-year planning purposes.

• The Wastewater Fund capital projects are provided as a ten-year plan, and formally appropriated as part of the Wastewater Fund.

• The Drainage Utility Fund includes capital improvements for storm water drainage and related debt service funded by a charge for all impervious property within the City limits. This fund was established in 1998.

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2009/2010 Biennial Budget

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2009/2010 Biennial Budget

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2009/2010 Biennial Budget

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2009/2010 Biennial Budget

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2009/2010 Biennial Budget

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Page 207 City of Golden

2009/2010 Biennial Budget

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Page 208 City of Golden 2009/2010 Biennial Budget

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Page 209 City of Golden

2009/2010 Biennial Budget

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Page 211 City of Golden

2009/2010 Biennial Budget

CITY OF GOLDEN 2009 BUDGET

Intergovernmental10%

Interest & Misc2%

Development & Utility Fees17%

Interfund Transfers24%

Land Sale Proceeds14%

Sales & Use Taxes33%

Where it comes from…Capital Improvement Plan revenues:

InfrastructureImpr./Replacements

48%

Debt Service38%

Parks/RecreationImprovements

11%

Capital Equipment3%

Where it goes…Capital Improvement Plan expenditures:

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Page 212 City of Golden 2009/2010 Biennial Budget

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Page 213 City of Golden

2009/2010 Biennial Budget

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Page 227: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 214 City of Golden 2009/2010 Biennial Budget

CIT

Y O

F G

OL

DE

NSA

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S A

ND

USE

TA

X C

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TA

L IM

PRO

VE

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S FU

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VE

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NT

PL

AN

2009

-201

82.

5%2.

5%20

09 -

2018

2009

- 20

18

DE

SCR

IPT

ION

AC

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AL

2006

AC

TU

AL

2007

Am

ende

dB

UD

GE

T20

08

PRO

JEC

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DA

CT

UA

L20

0820

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1120

1220

1320

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1520

1620

1720

18

TO

TA

L20

09T

O 2

018

RE

VE

NU

ES:

Sale

s Tax

3,44

6,79

5

3,57

9,00

7

3,53

3,86

0

3,68

6,93

0

3,77

9,10

3

3,87

3,58

1

3,97

0,42

0

4,06

9,68

1

4,17

1,42

3

4,27

5,70

8

4,38

2,60

1

4,49

2,16

6

4,60

4,47

0

4,71

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42,3

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se T

ax89

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900,

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ES:

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vice

2,94

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0

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1,

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7,

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)/Acc

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plus

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ds(2

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66)

(149

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)53

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97)

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6,80

9(5

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2,90

9)12

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7(1

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10)

Des

igna

ted

for H

isto

ric P

rese

rvat

ion

(100

,000

)(1

43,0

00)

(100

,000

)(1

40,0

00)

--

--

--

--

--

Inte

rfun

d Lo

an A

djus

tmen

t(2

,435

,000

)91

5,80

31,

519,

145

-1,

519,

145

--

--

--

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-

EN

DIN

G A

VA

ILA

BL

E R

ESO

UR

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700,

562

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2,

101,

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2,

639,

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33

0,63

9

10

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11

7,27

5

26

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21

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14

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26

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14

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9

Proj

ecte

dU

se T

ax G

row

th:

Proj

ecte

dSa

les T

ax G

row

th:

(a)

In 2

008,

the

City

ant

icip

ates

an

ener

gy im

pact

gra

nt o

f $50

0,00

0 fo

r sus

tain

abili

ty im

prov

emen

ts w

ith $

60,0

00 re

cogn

ized

in 2

008

and

the

bala

nce

in 2

009.

The

City

als

o an

ticip

ates

a 9

11 A

utho

ritB

oard

gra

nt o

f $50

,000

tow

ards

the

disp

atch

com

mun

icat

ion

equi

pmen

t upg

rade

.

Page 228: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 215 City of Golden

2009/2010 Biennial Budget

CIT

Y O

F G

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ND

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65

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50

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CO

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INU

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Page 229: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 216 City of Golden 2009/2010 Biennial Budget

CIT

Y O

F G

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Page 230: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 217 City of Golden

2009/2010 Biennial Budget

CIT

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Page 231: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 218 City of Golden 2009/2010 Biennial Budget

CIT

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Page 232: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 219 City of Golden

2009/2010 Biennial Budget

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Page 233: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 220 City of Golden 2009/2010 Biennial Budget

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Page 234: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 221 City of Golden

2009/2010 Biennial Budget

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Page 235: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 222 City of Golden 2009/2010 Biennial Budget

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Page 236: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

INTER

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INTERNAL SERVICE FUNDS

Internal Services Funds are used to account for the fi nancing of goods or services provided by one department to other departments within the City on a cost reimbursement basis.

• The Fleet Management Fund accounts for repair, maintenance and replacement of all City vehicles, except Fire Department trucks. Funding is established through base rates charged to each department on a monthly basis for each vehicle in use. Replacement schedules are based on the anticipated useful lives of the vehicles.

• Information Technology Fund provides for the repair, maintenance and replacement of all City computer equipment, as well as, the staffi ng required to manage the City’s computer network and telecommunications. Funding is established through base rates charged to each department on a monthly basis for each computer in use.

• The Insurance Fund accounts for property and liability insurance activities and the surety bonds purchased to cover City employees.

• The Medical Benefi t Fund is a self-insurance fund for payment of medical and dental claims for employees and their covered dependents. Funding is obtained through monthly premiums charged to each department based on type of coverage, number of employees, and through a monthly premium charged to each participating employee. The Fund purchases insurance to protect the City against catastrophic claims.

• The Workers’ Compensation/Unemployment Insurance Fund accounts for workers’ compensation and unemployment insurance activity. Premiums are charged monthly to the other funds to handle the insurance premiums and the payments required on a self-funded basis based on actual experience.

Page 237: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 223 City of Golden

2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010FLEET MANAGEMENT FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

General Fund Lease 382,400 371,800 395,100 395,100 427,000 433,700Water Fund Lease 29,700 31,900 34,600 34,600 39,000 41,100Wastewater Fund Lease 18,400 19,300 21,700 21,700 24,500 25,800Community Center Fund Lease 4,100 4,100 4,300 4,300 4,600 4,800Cemetery Operations Fund Lease 25,600 24,200 25,500 25,500 27,100 28,600Fossil Trace Golf Course Lease 2,100 1,600 2,100 2,100 2,200 2,300Rooney Road Sports Complex - - 1,300 1,300 1,200 1,300Workers Compensation Fund Lease - - - - 500 500Insurance Fund Lease - - - - 750 750Repairs and Maintenance 527,856 585,914 653,100 761,600 851,200 957,500Miscellaneous 272 19 1,000 1,000 - - Interest 6,344 18,533 19,000 19,000 20,000 13,959Gain/Loss On Sale of Equipment 5,382 67,281 67,400 67,400 79,400 99,200Transfer from Other Funds - - 75,000 75,000 - - Transfer from Medical Benefits 2,700 2,300 2,300 2,300 2,300 2,300

TOTAL REVENUES 1,004,854 1,126,947 1,302,400 1,410,900 1,479,750 1,611,809

OPERATING EXPENDITURES:

Operations 637,265 738,961 730,900 881,300 931,825 961,526Capital 228,452 205,468 509,800 508,926 611,500 766,500

TOTAL EXPENDITURES 865,717 944,429 1,240,700 1,390,226 1,543,325 1,728,026

(Use)/Accumulation of Surplus Funds 139,137 182,518 61,700 20,674 (63,575) (116,217)

ENDING AVAILABLE RESOURCES 339,712 522,230 583,930 542,904 479,329 363,112

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Page 224 City of Golden 2009/2010 Biennial Budget

FLEET MANAGEMENT DIVISIONFleet Management is the division of the Finance and Administrative Services Department responsible for the maintenance, repair and replacement of all City vehicles and equipment. Its mission is to provide the most cost-effective, safest vehicles and equipment; equipped as needed; ensuring top employee production to all City of Golden departments and divisions.

The Fleet Division provides an expert level of service and support for the City’s needs. Services include preventative maintenance programs, annual inspections, non-standard repairs, vehicle and equipment set-ups, replacement analysis, and vehicle procurement. The Fleet Division also coordinates and oversees work performed by outside vendors (warranties, body shops, etc.). The City currently has 135 vehicles and pieces of equipment with a value of $4.2 million (not including fire trucks), along with more than 200 pieces of small engine support equipment. The Capital and Equipment budget includes the cost of replacement for City vehicles and equipment at the end of optimal useful life.

A separate Fleet Maintenance Fund facilitates quality and effective management of the City's fleet. Revenue to the Fleet Management Fund comes from transfers from other City funds and interest earned on the reserve balance. Transfers from other City funds come in the form of lease payments for vehicle replacement charged at a per-vehicle rate and actual costs for repairs and maintenance.

Full-time Fleet Manager 1 Lead Fleet Mechanic 1 Fleet Mechanic 2

2007 Accomplishments

Provided all required maintenance on schedule to minimize fleet downtime. Completed all pre-season work on summer mowing equipment before April 1. Completed all pre-season work on snow removal equipment before Sept. 15. Kept all sanders calibrated to meet Front Range air quality goals. Maintained all callback work at less than 2%.

City Manager

Finance Director

Fleet Manager

Page 239: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 225 City of Golden

2009/2010 Biennial Budget

Reviewed use of all City equipment and procedures as part of the City efficiency program. Reviewed and maintained critical equipment installations and service for all emergency vehicles.Provided welding and fabrication services City-wide. Worked with City Safety Committee to provide training and information on equipment and vehicles for all City operators. Participated in the Regional Air Quality Councils ozone reduction program. Implemented a City wide shop support PM program ensuring that all compressors and related shop equipment are properly maintained. Set up and relocated the Fleet operations to the new facilities.

2008 Accomplishments

Provided all required preventative maintenance on schedule to minimize fleet downtime.Prepared all snow removal equipment prior to Sept. 15. This included calibration of sanders to meet air quality standards.Prepared all summer mowing equipment prior to April 1.Maintained all callback work to less than 2% of total work and kept fleet availability at more than 98%.Maintained the critical equipment installation and repair program for emergency vehicles.Monitored equipment usage for City-wide efficiency.Provided welding and fabrication services City-wide.Worked with the City Safety Committee to provide training and information on equipment and vehicles for all City operators.Implemented Intergovernmental Agreements with surrounding Fire Departments to provide repairs and maintenance to their equipment with the goal of generating revenue to offset our internal O&M costs.Initiated the “down sizing” procedures for all City replacement vehicles ensuring better fuel economy and better sustainability. Participated in the Regional Air Quality Councils ozone awareness program.

2009 GoalsProvide all required preventative maintenance on-schedule to minimize fleet downtime.Check and ready all snow removal equipment prior to Sept. 15. This includes calibration of sanders to meet air quality standards.Check and ready all summer mowing equipment prior to April 1.Maintain all callback work to 2% or less of total work and keep fleet availability at more than 99%.Monitor and maintain critical equipment installation and repair program for emergency vehicles.Perform more cost analysis on hybrid type vehicles and research more ways to reduce fuel and energy costs.Provide welding and fabrication services City-wide.Work with the City Safety Committee to provide training and information and equipment and vehicles for all City operators.Monitor and maintain a City-wide shop support equipment preventative maintenance program.

Page 240: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 226 City of Golden 2009/2010 Biennial Budget

Work closely with departments to find better efficiencies in operations resulting in down-sizing of the Cities overall fleet.Review and modify fleet lease schedule to even out yearly replacements as well as getting all the budget figures and projections brought under 1 standard format. Monitor fleet revenue generation / cost effectiveness as it pertains to the inter-governmental agreements.

2010 GoalsProvide all required preventative maintenance on schedule to minimize fleet downtime. Check and ready all snow removal equipment before Sept. 15th including calibration of sanders to meet air quality standards. Check and ready all summer mowing and grounds equipment prior to April 1st.Maintain all callback work to less than 2% or less of total work and fleet availability at more than 99%. Continue research on fuel and energy savings as well as alternative fueled vehicles. Monitor, maintain and modify all PM programs as needed.

FLEET MANAGEMENT

Account DescriptionActual2006

Actual2007

Revised2008

Projected2008

Adopted2009

Planned2010

Salaries & Benefits 270,826$ 277,230$ 304,600$ 306,000$ 325,200$ 344,619$Supplies & Services 366,439 461,731 426,300 575,300 606,625$ 616,907$Capital & Equipment 228,452 205,468 509,800 508,926 611,500 766,500

TOTAL 865,717$ 944,429$ 1,240,700$ 1,390,226$ 1,543,325$ 1,728,026$

Performance Measures

Actual2007

Projected2008

Projected2009

Projected2010

Percent of Work that is Planned Maintenance 95% 94% 95% 95%

Major and Minor Repairs 2152 2032 2,200 2,250 Vehicle Replacements Equipment Replacements 17 24 19 15

Total Number of Vehicles and equipment Maintained 132 132 134 136

Miscellaneous pieces of equipment maintained: trailers, mowers, trimmers, generator sets, pumps.

200 204 210 215

Total percent of fleet that is available to work, not waiting for repairs (yearly average)

98% 98% 98% 98%

Page 241: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 227 City of Golden

2009/2010 Biennial Budget

Page 242: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 228 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010INFORMATION TECHNOLOGY FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

General Fund Lease 720,152 822,700 880,700 880,700 972,950 926,135 Water Fund Lease 79,000 170,000 187,500 191,110 191,195 192,518 Fleet Management Lease 8,600 9,700 10,000 10,000 10,525 10,307 Wastewater Fund Lease 37,800 39,900 41,600 41,600 43,933 45,323 Community Center Fund Lease 55,800 58,100 60,400 60,400 66,939 65,414 Cemetery Fund Lease 3,800 4,300 4,400 4,400 4,605 4,496 Splash Aqua Park Fund Lease 8,300 13,700 14,200 14,200 15,134 14,813 Golf Course Fund Lease 56,100 64,100 66,500 66,500 76,315 74,681 Rooney Road Sports Complex Lease - - - - - - Grant Revenue - 71,476 28,995 28,995 - - Miscellaneous 2,864 2,698 - 400 - 100,000 Interest 7,427 14,602 12,000 12,000 6,208 3,525 Transfer from Medical Benefits 2,000 300 300 300 300 300

TOTAL REVENUES 979,843 1,271,276 1,306,295 1,310,605 1,388,104 1,437,512

OPERATING EXPENDITURES:

Information Systems 1,099,007 1,162,753 1,346,675 1,341,410 1,584,800 1,345,087

TOTAL EXPENDITURES 1,099,007 1,162,753 1,346,675 1,341,410 1,584,800 1,345,087

(Use)/Accumulation of Surplus Funds (119,164) 108,523 (40,380) (30,805) (196,696) 92,425

ENDING AVAILABLE RESOURCES 198,459 306,982 266,602 276,177 79,481 171,906

Page 243: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 229 City of Golden

2009/2010 Biennial Budget

INFORMATION TECHNOLOGY DIVISIONThe Information Technology (IT) Division was established by the City Manager in 1992 to manage and support the information technology needs of the City of Golden. A separate internal service fund was established to centralize computer management functions for repairs, software, training, capital equipment purchases, hardware and software maintenance, and network costs. In addition, a computer replacement fund has been set up to function similar to the vehicle replacement program. Revenue to the IT fund comes from transfers from other City funds, lease payments from City divisions and interest earned on the reserve balance.

Beginning in 1999, the IT Division devoted one full-time employee to support public safety technology needs. Public safety technology includes mobile data computing, records management, computer aided dispatch, document imaging, fire and crime management and municipal court technologies.

The IT Division expanded in 2007 to include one full time help desk coordinator and an additional employee to focus on Water Treatment Plant technology support. IT had not previously provided technology support for City’s water treatment processes, but it is in the strategic interests of the City do so.

In 2008 the duties of one of our network administrators were changed to allow 50% of his time to be devoted to digital security, including security policy development. This was in response to growing challenges involved with securing the City’s data.

The IT Division has continued to work with Public Works to expand the City’s Geographical Information Systems (GIS). As resources become available, GIS initiatives will be implemented in order to more fully exploit this technology.

2008 Accomplishments

Extended IT infrastructure to the new Fire Station 1, including Voice over IP (VoIP), a new state-of-the-art learning center, building access control, and a wireless hot spot. Implemented a new video surveillance system in the Police Department, City Hall, and the Community Center.Coordinated with Fossil Trace Golf Club to implement a new point of sales system and an online tee time reservation platform. Coordinated with Public Works to implement the technology required for Phase 1 of the Water Treatment Plant’s SCADA upgrade. Implemented a new Storage Area Network (SAN) and virtualized several of our servers, which will result in lower energy demands and improved disaster recovery capabilities. Rolled out Advanced Vehicle Location (AVL) technology for the Police Department, which allows dispatchers to more efficiently direct squad cars in emergency response situations. Implemented a new voice recording system for the Police Department. Implemented an online system for Clerks, Planning and GURA that allows citizens to watch video recordings of public meetings while simultaneously seeing the minutes associated with those meetings.

Page 244: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 230 City of Golden 2009/2010 Biennial Budget

Created a network master plan to upgrade IT infrastructure in order to more strategically meet growing technology demands over the next five years.Upgraded 25% of the personal computers on the City’s network.

2009 Goals

Plan and implement IT infrastructure for re-modeled Public Works Administration Building, assuming that funding is made available. Design a consolidated server room, to be implemented in 2010. In coordination with Court, the Fire Department, and the Police Department, create a 5-year Public Safety technology strategic plan.Upgrade the City PCs from Office 2002 to Office 2007, complete with City-wide training for staff. Virtualize the remaining legacy servers in order to reduce energy demands and improve disaster recovery options.Implement a redundant storage area network (SAN) and virtualized servers at an offsite location in order to improve disaster recovery capabilities.Implement technology required for Phase 2 of the Water Treatment Plant’s SCADA upgrade.Upgrade 25% of the personal computers on the City’s network.

2010 Goals

Build a consolidated server room that utilizes green technologies for energy reduction.Implement the network master plan upgrade designed in 2008. Implement wireless hot spots in most city conference rooms and public meeting rooms. Extend Voice over IP (VoIP) network-wide. Implement online utility bill payment system. Upgrade 25% of the personal computers on the City’s network.

IT Performance Metrics

The following performance metrics will be implemented for the 2009-10 budget cycle:

Customer Service: 1. 35% of help desk calls will be resolved at the time of receiving the request 2. 70% of help desk calls will be resolved within 4 work hours of receiving the request 3. 95% of help desk calls will be resolved within 8 work hours of receiving the request

Infrastructure Maintenance: 1. PCs will be replaced every 4 years 2. Servers will be replaced every 5 years 3. Network equipment will be replaced every 5 years

Page 245: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 231 City of Golden

2009/2010 Biennial Budget

IT Division Organization Chart: 6 Full-time employees

INFORMATION TECHNOLOGY DIVISION

Account Description Actual 2007Revised2008

Projected2008

Adopted2009

Planned 2010

Salaries & Benefits 484,903$ 533,300$ 528,330$ 571,600$ 609,287$Supplies & Services 462,260 590,710 499,310 684,700 597,300Capital & Equipment 215,590 222,665 313,770 328,500 138,500

TOTAL 1,162,753$ 1,346,675$ 1,341,410$ 1,584,800$ 1,345,087$

Finance and Administrative Services

Director

IT Manager Computer Committee

NetworkAdministrator

TechnicalSupportSpecialist

Public Safety Network

Administrator

Public Works Network

Administrator

Network / Security

Administrator

Page 246: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 232 City of Golden 2009/2010 Biennial Budget

Page 247: B City of Golden, Colorado IENNIAL BUDGET 1of 1the 1fund 1types 1used 1by 1the 1City, 1and 1an 1explanation 1of 1the 1budgeting 1and 1 accounting 1basis 1for 1presentation 1of 1revenues

Page 233 City of Golden

2009/2010 Biennial Budget

OTHER INTERNAL SERVICE FUNDS

Insurance Fund accounts for property and self-insurance liability activities. Premiums are charged on a monthly basis to the General, Water, Wastewater, Cemetery Operations, Community Center, Splash Aquatic Park, Fossil Trace Golf Course, Fleet Management, and Information Technology Funds.

Medical Benefit Fund accounts for the payment of medical claims for employees and their covered dependents. Funding is obtained through monthly premiums charged to each department based on type of coverage and number of employees. The City self-insures for health benefit claims up to a maximum of $75,000 per covered individual. Stop-loss insurance policies have been purchased to cover losses above these limits.

Workers’ Compensation Fund accounts for workers’ compensation and unemployment insurance activity. Premiums are charged monthly to the General, Water, Wastewater, Cemetery Operations, Community Center, Splash Aquatic Park, Fossil Trace Golf Course, Fleet Management, and Information Technology Funds.

The City participates in the Colorado Intergovernmental Risk Sharing Agency (CIRSA) for property, liability and workers’ compensation coverage. CIRSA is a separate and legal entity. Membership is restricted to Colorado municipalities that are members of the Colorado Municipal League. The purpose of CIRSA is to provide property, liability, and workers’ compensation coverages, and related services for its member municipalities through joint, self and excess insurance.

The deductible paid per occurrence by the City for property and liability is $10,000 and $100,000 respectively. Auto liability deductible is $50,000, and physical damage deductible is $5,000 per occurrence. The deductible paid by the City for each workers’ compensation incident is $100,000. The excess-of-loss contract for workers’ compensation coverage limits CIRSA’s per occurrence exposure to $400,000 and provides coverage to statutory limits for the State of Colorado. The statutory limit for employer liability is $1 million.

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Page 234 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010INSURANCE FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

ORIGINALBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

General Fund Premium 166,000 164,500 167,700 166,500 166,500 166,500Water Fund Premium 112,000 110,500 112,700 112,700 112,700 112,700Fleet Management Fund Premium 16,000 15,500 15,800 15,800 15,800 15,800Info Svcs Fund Premium 9,700 9,200 9,400 9,400 9,400 9,400GDGID Premium 3,200 3,200 3,300 3,300 3,300 3,300Wastewater Fund Premium 81,000 80,000 81,600 81,600 81,600 81,600Community Center Fund Premium 58,500 58,000 59,100 59,100 59,100 59,100Cemetery Operating Fund Premium 6,500 6,000 6,100 6,100 6,100 6,100Splash Aquatic Park Fund Premium 11,500 11,000 11,200 11,200 11,200 11,200Fossil Trace Golf Course Fund Premium 32,400 31,500 32,100 32,100 32,100 32,100GURA Premium Reimbursement - - - 5,000 7,000 7,000Drainage Fund Premium - - - - 1,000 1,000Rooney Rd Complex Fund Premium - - - - 2,000 2,000Miscellaneous 19,968 2,100 - 1,500 1,500 1,500Interest 2,038 24,000 28,000 24,000 24,000 24,000

TOTAL REVENUES 518,806 515,500 527,000 528,300 533,300 533,300

OPERATING EXPENDITURES:

Insurance Claims 136,709 125,000 125,000 125,000 125,000 125,000Professional Services - 10,000 24,000 - - - IBNR EOY Contingency 11,844 100,000 100,000 100,000 100,000 100,000Insurance Premium 304,126 255,000 260,000 260,000 240,200 252,210

Safety Officer - - - 13,500 21,450 22,320

TOTAL EXPENDITURES 452,679 490,000 509,000 498,500 486,650 499,530

(Use)/Accumulation of Surplus Funds 66,127 25,500 18,000 29,800 46,650 33,770

ENDING AVAILABLE RESOURCES 538,171 563,671 498,305 593,471 544,955 627,241

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Page 235 City of Golden

2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010MEDICAL BENEFIT FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

City Premiums 1,095,572 1,125,551 1,253,800 1,275,000 1,601,200 1,921,440Employee Contributions 201,957 218,321 260,100 260,100 352,264 422,717COBRA Premiums 8,615 3,357 - 24,000 - - Interest & Miscellaneous 68,293 73,173 77,000 50,000 25,000 12,00030% Cash Infusion - - - - 400,000 -

TOTAL REVENUES 1,374,437 1,420,402 1,590,900 1,609,100 2,378,464 2,356,157

OPERATING EXPENDITURES:

Wellness Program 24,453 24,399 50,000 27,000 - - Professional Services 73,553 66,711 103,000 75,000 80,000 82,000Medical Claims 931,908 1,465,867 1,100,000 1,350,000 1,100,000 1,200,000Dental Claims 75,838 73,714 72,000 80,000 90,000 95,000Sick Leave Term Incentive 81,900 23,300 23,300 23,300 23,300 23,300IBNR EOY Contingency (183,279) 44,420 200,000 150,000 150,000 150,000Insurance Premium 216,518 292,845 380,000 562,000 646,300 743,245

TOTAL EXPENDITURES 1,220,891 1,991,256 1,928,300 2,267,300 2,089,600 2,293,545

(Use)/Accumulation of Surplus Funds 153,546 (570,854) (337,400) (658,200) 288,864 62,612

ENDING AVAILABLE RESOURCES 1,536,146 965,292 627,892 307,092 595,956 658,568

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Page 236 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010WORKERS' COMPENSATION & UNEMPLOYMENT INSURANCE FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

General Fund Premiums 185,300 194,000 205,200 207,275 258,450 263,840Water Fund Premiums 20,200 23,100 24,500 24,800 24,600 25,008Fleet Management Fund Premiums 5,400 5,100 5,300 5,400 5,500 5,665IT Fund Premiums 3,900 5,800 6,200 6,200 6,300 6,490Wastewater Fund Premiums 6,500 8,500 9,100 9,100 9,300 9,555Community Center Fund Premiums 23,300 19,500 20,800 20,900 20,900 21,527Cemetery Operations Fund Premiums 5,900 6,200 6,600 6,500 6,200 6,400Splash Aquatic Park Fund Premiums 4,000 3,800 4,000 4,100 4,000 4,100Fossil Trace Golf Course Fund Premium 15,700 16,000 16,800 17,100 17,200 17,716Drainage Fund Premium 900 1,000 1,100 1,700 1,700 1,751Rooney Road Sports Complex Fund - 400 300 300 300 309Community Service Premiums 245 600 150 900 250 250Interest 28,379 28,000 30,000 30,000 17,223 25,277

TOTAL REVENUES: 299,724 312,000 330,050 334,275 371,923 387,888

OPERATING EXPENDITURES:

Professional Services 10,816 20,000 38,000 10,000 - -Insurance Claims - Workers' Comp 81,466 85,000 85,000 85,000 85,000 85,000Insurance Claims - Unemployment 928 10,000 10,000 10,000 10,000 10,000IBNR EOY Contingency 89,614 100,000 100,000 100,000 100,000 100,000Insurance Premiums 172,845 186,000 198,000 198,000 136,200 143,000Transfer to Medical Benefits Fund - - - - - -

Safety Officer - - - 5,910 15,870 16,510

TOTAL EXPENDITURES 355,669 401,000 431,000 408,910 347,070 354,510

(Use)/Accumulation of Surplus Funds (55,945) (89,000) (100,950) (74,635) 24,853 33,378

ENDING AVAILABLE RESOURCES 616,813 527,813 426,863 453,178 478,031 511,409

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Page 237 City of Golden

2009/2010 Biennial Budget

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OTH

ER FU

ND

S

OTHER FUNDS

The Golden Downtown General Improvement District (GDGID) Fund is a special revenue fund that accounts for monies received from the collection of tax revenues generated through the assessment of an annual mill levy. Expenditures are used for the purchase of parking lots and parking improvements in and around the Golden downtown area. While the GDGID is a separate legal entity from the City, its revenue fund is blended with the City’s fi nancial statements since the City Council acts as its Board of Directors.

The Cemetery Perpetual Care Fund is a trust fund that accounts for cemetery plot perpetual maintenance fees charged by the City to individual owners of cemetery plots. These perpetual care fees are to accumulate until the cemetery is full. Interest earnings are available for ongoingmaintenance. This fund is a non-expendable trust fund.

The Golden Capital Leasing Corporation (GCLC) Fund is a special revenue fund that accounts for the monies of the Golden Capital Leasing Corporation, a Colorado nonprofi t corporation formed in 2006 for the purpose, among others, of purchasing, leasing, or otherwise acquiring real property for lease to the City. While the GCLC is a separate legal entity from the City, its revenue fund is blended with the City’s fi nancial statements since the Board of Directors is comprised of the City Manager, Finance Director and a citizen of the City of Golden.

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Page 239 City of Golden

2009/2010 Biennial Budget

OTHER FUNDS

The Golden Downtown General Improvement District (GDGID) Fund is a special revenue fund that accounts for monies received from the collection of tax revenues generated through the assessment of an annual mill levy. Expenditures are used for the purchase of parking lots and parking improvements in and around the downtown Golden area. While the GDGID is a separate legal entity from the City, its revenue fund is blended with the City's financial statements since the City Council acts as its Board of Directors.

The Cemetery Perpetual Care Fund is a trust fund that accounts for cemetery plot perpetual maintenance fees charged by the City to individual owners of cemetery plots. These perpetual care fees are to accumulate until the cemetery is full. At that time, interest earnings will be available for ongoing maintenance. This fund is a non-expendable trust fund.

The Golden Capital Leasing Corporation (GCLC) Fund is a special revenue fund that accounts for the monies of the Golden Capital Leasing Corporation, a Colorado non-profit corporationformed in 2006 for the purpose, among others, of purchasing, leasing, or otherwise acquiring real property for lease to the City. While the GCLC is a separate legal entity from the City, it is blended with the City’s financial statements since the Board of Directors is comprised of the City Manager, Finance Director and a citizen of the City of Golden, as appointed by the City Council.

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Page 240 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010GOLDEN DOWNTOWN GENERAL IMPROVEMENT DISTRICT FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Property Tax 19,775 19,941 22,000 22,000 21,800 23,100Automobile Tax 3,538 2,829 2,885 2,885 2,900 2,950Interest 5,042 4,062 3,500 3,500 1,400 1,650Misc 2,618 2,849 2,600 3,100 3,150 3,200Cash in Lieu of Parking 26,936 2,940 2,200 4,200 4,000 10,000

TOTAL REVENUES 57,909 32,621 33,185 35,685 33,250 40,900

OPERATING EXPENDITURES:

Repairs & Maintenance 2,700 2,700 2,700 2,700 2,700 2,700Treasurer Fees 302 300 300 300 350 350Professional Services - - 500 - - - GURA Parking Structure - 96,969 2,200 4,200 4,000 10,000 Paving Project - - 42,000 80,000 - - Parking Lot Rent 17,727 397 8,800 9,260 9,400 9,500Bike Lockers - - - - 10,000 - Insurance Premium 3,200 3,200 3,300 3,300 3,300 3,300

TOTAL EXPENDITURES 23,929 103,566 59,800 99,760 29,750 25,850

(Use)/Accumulation of Surplus Funds 33,980 (70,945) (26,615) (64,075) 3,500 15,050

ENDING FUND BALANCE 142,228 71,283 44,668 7,208 10,708 25,758

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Page 241 City of Golden

2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006 - 2010CEMETERY PERPETUAL CARE FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Cemetery Perpetual Care Fees 42,130 49,660 47,910 47,910 48,400 48,900Interest 47,687 68,249 69,000 60,000 57,600 71,600

TOTAL NEW REVENUES 89,817 117,909 116,910 107,910 106,000 120,500

EXPENDITURES:

Transfer to Cemetery Operations - 33,500 56,050 15,000 15,000 15,000

TOTAL EXPENDITURES - 33,500 56,050 15,000 15,000 15,000

(Use)/Accumulation of Surplus Funds 89,817 84,409 60,860 92,910 91,000 105,500

Ending Fund Balance 1,324,057 1,408,466 1,469,326 1,501,376 1,592,376 1,697,876

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Page 242 City of Golden 2009/2010 Biennial Budget

COMPARATIVE BUDGET CHANGES 2006-2010GOLDEN CAPITAL LEASING COPRORATION FUND

DESCRIPTIONACTUAL

2006ACTUAL

2007

REVISEDBUDGET

2008

PROJECTEDACTUAL

2008

PROPOSEDBUDGET

2009

PLANNEDBUDGET

2010

REVENUES:

Bond Proceeds 14,452,349 - - - - - Interest 444,871 265,727 20,000 20,000 - - Misc - - - - - -

TOTAL NEW REVENUES 14,897,220 265,727 20,000 20,000 -

OPERATING EXPENDITURES:

Professional Services 804,533 109,966 - - - - Transfers - - 998,920 998,920 - - Construction 6,525,583 6,102,770 307,640 307,640 - - Issuance Costs 333,535 - - - - -

TOTAL EXPENDITURES 7,663,651 6,212,736 1,306,560 1,306,560 - -

(Use)/Accumulation of Surplus Funds 7,233,569 (5,947,009) (1,286,560) (1,286,560) - -

ENDING FUND BALANCE 7,233,569 1,286,560 - - - -

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Appen

dix AG

lossary/Resolu

tions

APPENDIX A

STATS, GLOSSARY ANDBUDGET RESOLUTIONS

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Page 243 City of Golden

2009/2010 Biennial Budget

2003 2004 2005 2006 2007Function/Program

PolicePhysical arrests 1,618 1,607 1,968 1,756 1,367 Traffic violations 3,225 4,298 6,065 5,674 4,694 Parking violations 698 589 695 692 1,378

FireEmergency responses 1,229 1,234 1,101 1,110 1,259 Inspections conducted 833 679 956 1,244 1,290

Parks and RecreationCommunity Center admissions 150,406 153,376 159,230 158,039 191,878 Golf Course rounds played3 19,675 43,227 44,145 40,696 41,435 Aquatic Park admissions 48,379 30,159 46,305 50,338 59,965 Cemetery plot sales 128 145 142 112 118 Cemetery plot opening/closings 163 158 147 146 147

Utilities1

Daily average consumption MGD2 3.56 3.41 3.15 2.61 3.27Maximum daily capacity MGD2 15 15 15 15 13New connections 80 62 72 41 42

Facilities and services not included in the reporting entity:Education:

Number of elementary schools 2 2 2 2 2Number of elementary instructors 64 65 56 55 50Number of secondary schools 2 2 2 2 2Number of secondary instructors 114 137 116 98 101Number of universities 1 1 1 1 1

1 Coors Brewing Company provides wastewater treatment in exchange for water provided from the City2 MGD - Millions of gallons per day3 Total 18 hole equivalent rounds; 9 and 18 holes combined

Note: The City of Golden implemented GASB 34 as of December 31, 2001

Source: Various city departments

City of Golden, ColoradoOperating Indicators by Function/Program

Last Five Fiscal Years

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Page 244 City of Golden 2009/2010 Biennial Budget

2003 2004 2005 2006 2007Function/Program

PoliceStations 1 1 1 1 1 Patrol Units 15 17 17 18 18

Fire Stations 4 4 4 4 4

Public WorksStreet (miles) 230 230 230 236 230 Traffic Signals 13 13 17 18 18

Parks and RecreationCommunity centers 1 1 1 1 1 Parks 16 18 18 17 17 Park, trail and open space acreage 649 654 654 842 842 Swimming pools 2 2 2 2 2 Tennis courts 5 5 5 5 5

Utilities1

Water treatment plants 1 1 1 1 Water mains (miles) 105 106 106 109 108 Sanitary sewer (miles) 73 73 73 75 76 Storm sewers (miles) 26 26 26 48 52 Water connections 5,093 5,155 5,182 5,198 5,263 Wastewater connections 4,851 4,907 4,933 4,955 5,000

1 Coors Brewing Company provides wastewater treatment in exchange for water provided from the City

Note: The City of Golden implemented GASB 34 as of December 31, 2001 No capital assets are available for general government function

Source: Various city departments

City of Golden, ColoradoCapital Asset Statistics by Function/Program (Unaudited)

Last Five Fiscal Years

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Page 245 City of Golden

2009/2010 Biennial Budget

2003 2004 2005 2006 2007

Aggregate top ten filers1, 2 5,379,115$ 5,152,792$ 5,054,400$ 5,157,219$ 5,497,506$

Aggregate all other filers2 6,634,592 6,569,202 7,053,390 7,355,145 7,758,698

Total sales and use tax 2 12,013,707$ 11,721,994$ 12,107,790$ 12,512,365$ 13,256,204$

Top ten filers as a percentage of total sales tax 44.77% 43.96% 41.75% 41.22% 41.47%

1 Colorado State Statutes and City of Golden Ordinances prohibit disclosure of individual sales tax returns, therefore the current year top ten filers are listed in alphabetical order as follows: Coors Brewing Company, Coors Tek, Coors Tek Ceramics, Home Depot #1522,Jefferson County Colorado, King Soopers, Kohl's Department Store, Safeway #322, Xcel Energy and Xcel Energy Services.

Note: The City of Golden implemented GASB 34 as of December 31, 2001

Source: City of Golden Sales and Use Tax Reports

City of Golden, ColoradoPrincipal Sales and Use Tax Payers

Last Five Fiscal Years

2 Excludes building use tax, audit revenue, penalties, interest and refunds

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Page 246 City of Golden 2009/2010 Biennial Budget

City of Golden, Colorado MISCELLANEOUS STATISTICS (UNAUDITED) December 31, 2007

Date of Incorporation 1871 Form of Government Council/Manager Estimated Population 17,906 Estimated Unemployment Rate 3.90% Estimated Per Capita Income* $43,346 Area in Square Miles 9.3 Bond Rating - Water General Obligation Bonds Moody's - A1

- Sales and Use Tax Revenue Bonds Standard & Poor's – AAA Insured - Drainage Utility Bonds Standard & Poor's – AAA Insured City of Golden Facilities and Services

Police Protection: Number of police personnel and officers 66 Number of patrol units 18

Fire Protection: Number of volunteer fire personnel and officers 69

Parks and Recreation: Trails (linear miles) 13

Water System: Daily average consumption in gallons 3.27 MGD Maximum daily capacity of plant in gallons 13 million

Sewage System: The Adolph Coors Company handles sewage treatment under contract with the City.

Facilities and Services not included in the reporting entity: Education:

Number of elementary schools 2 Number of elementary school instructors 50 Number of secondary schools 2 Number of secondary school instructors 101 Number of universities 1

* Per Capita Income data specific to the City of Golden is from the 2000 Census; adjusted annually for inflation.

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Page 247 City of Golden

2009/2010 Biennial Budget

Beautiful Golden is nestled in the foothills of the Rocky Mountains, west of the Denver metropolitan area.

Golden

Denver

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Page 248 City of Golden 2009/2010 Biennial Budget

WELCOME TO GOLDENHowdy Folks!

WHERE THE WEST LIVES

W ith a population of just over 18,000 people, the City of Golden is a small and quiet town nestled in the foothills of the Rocky Moun-

tains. Just 20 minutes from the hustle and bustle of metropolitan Denver, unique geological features called the Table Mountains provide a natural buffer between Golden and urban sprawl to the east. This barrier has helped to insulate Golden, allowing it to retain its vibrant history.

Golden served as the fi rst territorial capital from 1862 to 1867, when Denver became the capital of Colorado. Many of the City’s buildings showcase Golden’s historic character and charm. Once such building is the Golden Armory at 13th and Arapahoe streets. Built in 1912 by the Colorado National Guard using more than 5,500 tons of cobblestone, it is the largest cobblestone building in the United States.

Golden’s historic downtown provides a unique charm cherished by citizens and visitors alike. When you see the “Howdy Folks! Welcome to Golden, Where the West Lives” arch over Washington Av-enue (Golden’s main street), you’ll know you’re here. You can fi nd some of the fi nest restaurants, hotels, and bed and breakfasts in the Front Range. And the cultural, arts and history attractions can keep you busy learning for hours. There is plenty of shopping at the quaint stores that take you back to a simpler time when friendly courtesy and hospitality were the norm.

Just off of Washington Avenue and north of the downtown shopping district, Clear Creek runs through Golden. The City designed and installed a whitewater course enjoyed by citizens and visitors from far and wide. The creek offers an opportunity for those seeking adventure and sport, but also for those who wish to unwind with a quiet walk or read-ing a book on its banks.

Golden is also home to the distinguished Colo-rado School of Mines and its beautiful campus, just a short walk from historic downtown. The school’s “M-blem” on the side of Mount Zion can be seen from Interstate-70 and lights up the nights in Gold-en, reminding all that some of the state’s most tal-ented students call Golden home.

Housed in a building on the National Historic Registry, Foothills Art Center is a premier art gal-lery known throughout the region for its fi ne exhib-its of local and national artists’ paintings, sculptures and fi ne crafts.

Also on the National Historic Registry is the Astor House, which operates today as a museum in partnership with the Clear Creek History Park, a living history park on the banks of Clear Creek. The Astor House was the fi rst hotel built of stone west of the Mississippi River. It has been beauti-fully restored with many of its original furnishings and period pieces. And if history is your thing, the Golden Pioneer Museum houses and displays the archives of the City’s past.

Golden’s 18-hole municipal golf course has earned multiple top honors and awards since its opening in 2003. It is the latest proud addition to the City’s Parks and Recreation amenities, including a new water park, 12 community parks, a community recreation center and countless trails.

This is just a sampling of the spirit of Golden, Colorado. It’s yours to experience any time you choose. For more information, visit www.CityOfGolden.net or call 303-384-4000.

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Page 249 City of Golden

2009/2010 Biennial Budget

Golden's Water Treatment Plant: . . .

. . . is staffed 24 hours a day, 365 days a year. The plant operator receives 2,300 signals at the central processor every 3 to 5 seconds. These signals track the quantity and quality of the water and status of the pumps at the five different pumping stations. . . . treats an average 3.4 million gallons of water a day, enough to flood 10 football fields one-foot deep in water every day!

. . . can pump up to 9,000 gallons per minute – enough to fill two large semi-tanker trucks every minute.

This may seem like a lot of water, but . . .

. . . peak summer usage is 7 million gallons per day.

. . . winter usage is 2.2 million including businesses or

127 gallons per person.

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Page 250 City of Golden 2009/2010 Biennial Budget

GLOSSARY

Appropriation Money set aside by formal action for a specific use.

Accrual Basis of Accounting Method of accounting that recognizes the financial effect of transactions, events, and interfund activities when they occur, regardless of the timing of related cash flows.

Balanced Budget A budget for which expenditures and ending fund balance are equal to net available resources (beginning fund balance plus revenues).

Basis of Accounting As per Generally Accepted Accounting Principals (GAAP), the modified accrual basis of accounting is used by all governmental fund types and agency funds (General fund, special revenue funds, capital projects funds, and trust funds). Under the modified accrual basis of accounting, revenues are recorded as collected unless susceptible to accrual, such as amounts measurable and available to finance the City's operations. “Available” means collectible within the current period or soon thereafter to be used to pay liabilities of the current period. Significant revenues, which are considered susceptible to accrual, include sales tax, utility franchise taxes, interest, and certain state and federal grant entitlements. Licenses, permits, fines and forfeitures, charges for services and miscellaneous revenue are recorded as revenues when received in cash because they are generally not measurable until actually received. Expenditures, other than debt service on long-term debts, are recorded when the liability is incurred.

The accrual basis of accounting is utilized by proprietary fund types (enterprise funds and internal service funds), pension trust funds and non-expendable trust funds. Under this basis of accounting, revenues are recognized when earned and expenses are recorded when liabilities are incurred. The City’s fiscal year ends on Dec. 31.

Basis of Budgeting Budgets for the General, Special Revenue and Capital Projects funds are prepared and adopted on a basis consistent with GAAP. Budgeting in the Enterprise and Internal Service funds are prepared and adopted on a basis consistent with GAAP, except that bond principal payments and capital improvements are treated as expenses. Budgetary considerations for Enterprise and Internal Service funds in this report are on this non-GAAP budgetary basis.

Budget A financial plan that estimates proposed expenditures for the following year along with proposed methods of financing them. The budget is considered in balance if available resources are equal to or greater than total appropriated expenditures. The budgetary legal level of control is at the fund level.

Budget Procedure Requirements of the Golden City Charter

Section 7.3 of the Golden City Charter says that the City Manager shall “cause a proposed budget to be prepared annually and submitted to the Council and be responsible for the administration of the budget after its adoption all in accordance with Chapter XI of this Charter.”

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Budget Procedure (cont.)

This budget and the process for public hearing and Council adoption far exceed the requirements of Chapter XI. All of Council has copies of the Golden City Charter, and it is widely available for public review. Chapter XI provides for amendments of this Budget after adoption in Section 11.10.

Supplemental AppropriationsIf during the fiscal year the manager certifies that there are available for appropriation revenues in excess of those estimated in the budget, the Council by ordinance may make supplemental appropriations for the year up to the amount of such excess.

Emergency AppropriationsTo meet a public emergency affecting life, health, property or the public peace, the Council may make emergency appropriations. Such appropriations may be made by emergency ordinance in accordance with provisions of Section 5.11. To the extent that there are no available unappropriated revenues to meet such appropriations, the council may by emergency ordinance authorize the issuance of emergency notes, which may be renewed from time to time, but the emergency notes and renewals of any fiscal year shall be paid not later than the last day of the fiscal year next succeeding that in which the emergency appropriation was made.

Reduction of AppropriationsIf at any time during the fiscal year it appears probable to the manager that the revenues available will be insufficient to meet the amount appropriated, he shall report to the Council without delay, indicating the estimated amount of the deficit, any remedial action taken by him, and his recommendations as to any other steps to be taken. The Council shall then take such further action as it deems necessary to prevent or minimize any deficit and for that purpose it may by ordinance reduce one or more appropriations.

Transfer of AppropriationsAt any time during the fiscal year, the manager may transfer part or all of any unencumbered appropriation balance among programs within a department, office or agency and, upon written request by the manger, the Council may by resolution transfer part or all of any unencumbered appropriation balance from one department, office, agency or object to another.

Limitation – Effective DateNo appropriation for debt service may be reduced or transferred, and no appropriation may be reduced below any amount required by law to be appropriated or by more than the amount of the unencumbered balance thereof. The supplemental and emergency appropriation and reduction or transfer of appropriations authorized by this section may be made effective immediately upon adoption.

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Budgetary Legal Level of Control The legal level in which expenditures cannot exceed total appropriations. For the City of Golden, that is at the fund level.

Capital Expenditure Expenditures in excess of $5,000.00 for equipment or construction with a useful life greater than one year, which results in an addition to the City of Golden’s fixed assets.

Capital Improvement Plan (CIP) A plan of proposed capital outlays and the means of financing them for the next 10-year period. Required by Section 11.5 of the City Charter.

Carry-over Cash Also known as "cash surplus." This is the amount of money in a particular fund that is not reserved for designated expenditures and is available for spending in the following fiscal year. The City Charter requires that cash surplus be considered as anticipated revenue for the next year's budget, and is defined by the Charter as "the amount by which cash is expected to exceed current liabilities and encumbrances at the beginning of the ensuing fiscal year."

Citizens Budget Advisory Committee (CBAC)

A group of citizens and business owners in Golden, this Committee functions to review current year revenues and expenditures, and then assists the City Manager and Finance Director on fiscal decisions by providing community input. The Committee meets monthly March through November. There is no formal ordinance or resolution establishing this committee, but it has functioned since 1992, with several members still on the Committee from its original inception.

Charter The City Charter is the basic underlying legal document for the City of Golden, and functions much like the Constitution does for the federal government. It was written in 1967 by 21 members elected to a Home Rule Charter Convention, and was voter-approved by the citizens of Golden on Nov. 7, 1967. The Charter provides the basic rules of operation that govern the City of Golden, and provisions within can only be changed by a vote of the citizenry.

Contingency A reserve for unanticipated expenditures. The Charter, in Section 11.4 c, requires that "a reasonable provision for contingencies which shall not be available for expenditures . . ." must be included in the budget. Appropriations during the year for contingencies must be provided by ordinance. Included is the 3% emergency reserve (required under the State’s TABOR Amendment) that can only be spent in accordance with the Colorado Constitution.

Drainage The collection and conveyance of stormwater from land throughout the City to the historical channels that transport it downstream to the Gulf of Mexico.

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Enterprise Fund There are three types of Enterprise Funds:

A fund established to account for operations financed and operated in a manner similar to private business enterprises, where the governing body intends that the cost of providing goods and/or services to the general public on a continuing basis will be primarily financed or recovered through user charges. The Water, Wastewater, and Drainage Utility Funds are run as independent business entities.

A fund established because the governing body has decided that periodic determination of revenues earned, expenses incurred and/or net income is appropriate for: capital maintenance, public policy, management control or other purposes. The City Council has decided that the Community Center and Cemetery Funds shall be run as Enterprise Funds for the purpose of public policy, management control and accountability.

Under the State’s TABOR Amendment, Enterprise Funds are only those which receive 90% of their operating revenues from user fees and that have the authority to issue debt. The City Council has determined that the Drainage Utility, Water Enterprise and Wastewater Enterprise funds meet these criteria and therefore, according to the TABOR Amendment, are not subject to its provision. In addition, the Colorado Supreme Court has determined that the Conservation Trust Fund is exempt from TABOR.

Expenditures Decreases in net financial resources. Expenditures include current operating expenses requiring the present or future use of net current assets, debt service and capital outlays.

Expenses Asset outflows or liability occurrences from goods delivery/production and/or services rendered.

Fund Liabilities are segregated in a fund to carry out specific activities in accordance with special regulations, restrictions and/or limitations.

Fund Balance The difference between fund assets and fund liabilities are similar to net worth in a private sector entity.

Fund Type Any one of seven categories into which all funds are classified in governmental accounting. The seven fund types are: general, special revenue, debt service, capital projects, enterprise, internal service, and trust and agency.

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General Fund The fund used to account for financial resources (except those required to be accounted for in another fund or those that are accounted for in another fund) for management and control purposes. The General Fund is the basic operating fund of the government and includes Administration, Finance, Planning and Development, Parks and Recreation (except for the Community Center Fund and the Cemetery Fund), Police Department, Fire Department, and Public Works.

Governmental Funds Funds generally used to account for tax-supported activities. There are five different types of governmental funds: the general fund, special revenue funds, debt service funds, capital projects funds, and permanent funds.

Home Rule Limited autonomy in the organization or management of local affairs granted by the state to a county or municipality. Home Rule entities are exempt from some forms of state supervision, mainly in the area of finance.

Internal Service Fund A fund used to account for the financing of goods or services provided by one department or agency to other departments or agencies on a cost reimbursement basis. Golden's internal service funds are the IT Fund, the Fleet Maintenance Fund, the Insurance and Bond Fund, the Workers' Compensation-Unemployment Insurance Fund, and the Medical Benefit Fund.

L.E.A.F. Law Enforcement Assistance Fund. A state grant program funded by fines levied against those convicted of Driving Under the Influence or Driving While Ability Impaired (D.U.I./D.W.A.I.). Money is provided from the state to local governments for purposes of reducing the number of intoxicated drivers on the road.

Levy The total amount of taxes, special assessments or service charges imposed by a government.

IT Information Technology Fund. This is the Internal Service Fund that buys the software and data-processing systems and equipment for the City.

Mill A rate of tax. Results in $1 of revenue for every $1,000 of assessed valuation. 1/1000th's of $1 of assessed value.

Modified Accrual Accounting An accounting method where revenues are recognized in the accounting period in which they become available and measurable and expenditures are recognized in the accounting period in which the fund liability is incurred, if measurable.

Net Available Resources Beginning fund balance plus revenues.

Open Space Also called Jeffco Open Space. This program is funded by a ¼-cent sales tax collected countywide and administered by Jefferson County. The money is used to purchase and maintain open space areas

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throughout the County. A certain proportion of the money is shared with local governments.

Proprietary Funds Funds that focus on the determination of operating income, changes in net assets (or cost recovery), financial position, and cash flows. There are two different types of proprietary funds: enterprise funds and internal service funds.

R & M Repair and Maintenance costs.

Revenues 1. Increases in the net current assets from other than expenditure refunds and residual equity transfers.

2. Revenues as defined under the State’s TABOR Amendment; different than revenues considered for accounting purposes.

3. Revenues under TABOR are all those actually received in cash during a fiscal year.

Supplemental Appropriation If during the fiscal year the manager certifies that there are available for appropriation revenues in excess of those estimated in the Budget, the City Council by ordinance may make supplemental appropriations for the year up to the amount of such excess, which would amend the Adopted Budget.

Thornton Water Option In 1988, the City entered into a joint settlement (known as the "Cosmic Agreement") with five other jurisdictions to settle 33 different water rights cases. The City has the right each year to lease up to 900-acre feet for its own use. During 2002, the City executed the escalation factor in the Thornton Lease and acquired the remaining 300 acre-feet of water for $2,740,000.

TABOR The Taxpayers Bill of Rights. Nickname of TABOR for a citizen-initiated amendment to the Colorado Constitution that severely limits governments’ ability to collect increase in tax revenue. The citizens of Golden voted to exercise the amendment provision to “opt-out” of most of TABOR’s restrictions.

Working Capital Net available resources

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City of Golden Debt Management Policy

Effective September 22, 2005

Purpose

This policy establishes appropriate uses of debt, establishes formal debt management practices to ensure that the City maintains a strong credit profile, and applies these practices as a functional tool for short-term and long-term debt management.

This policy establishes the following goals:

1. Debt should be considered the funding source of last resort. 2. Maintain or improve the City’s overall financial condition by maintaining low debt levels as

appropriate.3. Attain and retain the highest possible credit rating for each debt issue. 4. Minimize debt interest costs. 5. Assess all, including new and innovative, financing alternatives, to also include debt avoidance

through grant programs or private/public cooperation. 6. Should not exceed industry standards in total debt per capita ratios, including overlapping debt. 7. Use the most cost effective financing option for capital assets with substantial economic life. 8. Finance routine infrastructure replacement programs on a pay-as-you-go basis, not via debt

issuance.9. Debt issuances should be anticipated through the 10-year Capital Improvement Program (CIP)

so that adequate time exists to examine alternatives and to comply with legal constraints and election provisions.

10. The use of enterprise debt is preferred over general obligation debt when appropriate and cost effective. The analysis of enterprise bond issues must include an estimate of the impact, if any, on rates, fees, and charges.

11. Maintain an adequate ratio between cash funding of capital improvements and debt within the CIP.

12. The impact on operating costs should be considered and accounted for prior to issuing debt for a capital need.

13. At least 50% of the principal amount should be retired in the first ten years of the issue unless the debt is structured to allow for level annual payments (including interest).

14. Debt should be issued only in the amount specified or budgeted for specifically identified projects.

Legal Provisions/Constraints on the Issuance of Debt

Authority to issue debt comes from the City’s Home Rule Charter. Legal provisions/constraints exist for City debt issuance in the City’s Charter, the Taxpayer Bill of Rights (TABOR) amendment to the Colorado Constitution, and other Colorado law and court decisions.

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Per Section 12 of the Charter for the City of Golden, the City may borrow money and issue the following types of debt:

1. Short-term notes 2. General obligation bonds and other like securities 3. Revenue bonds and other like securities 4. Local improvement bonds and other like securities

Section 12 of the Charter discusses the types of debt in more detail as summarized below:

1. Short-term notes will mature before the end of the calendar year in which they are issued. Authorization to issue short-term notes in anticipation of tax revenue or other revenue occurs with an affirmative vote of the majority of City Council.

2. General obligation bonds shall be approved by a vote of the taxpaying electors.

3. Revenue bonds or other debt instruments may be issued by majority vote of City Council for constructing, improving, condemning, or otherwise acquiring or extending water, electric, gas, or sewer system, or other public utility or other income-producing project provided that the bonds or other obligations are payable from the net revenues derived from the operation of the system/project.

4. City Council may authorize without an election issuance of refunding bonds or like securities at a lower interest rate.

5. There are no established limitations as to the amount of bonds that may be issued by the City.

6. Special or local improvement district bond issuance may be initiated by order of City Council or on a petition by the owners of more than 50% of the area of the proposed district. (Note that this Charter provision is also subject to requirements of TABOR.)

Certain provisions of TABOR address the issuance of debt. A summary of those provisions is provided below:

1. All multiple-year debt shall first be approved by the City’s taxpaying electorate unless it is issued for a TABOR defined government enterprise or refinances bonded debt at a lower interest rate or sufficient cash reserves are pledged irrevocably for all future payments. (Enterprises for the City of Golden include the Water Fund, Wastewater Fund, Drainage Utility Fund, and Fossil Trace Golf Course Fund.)

2. Bonded debt ballot measures shall specify the debt’s principal amount and maximum annual and total repayment cost, the principal balance of total current bonded debt and its maximum annual and remaining total repayment cost.

3. Debt elections can only occur in a State general election, biennial local City election, or on the first Tuesday after the first Monday in November of odd-numbered years.

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Colorado law and recent court decisions provide that operating leases, lease-purchases, and Certificates of Participation, that are subject to annual appropriation, are not considered multiple-year debt and are not subject to TABOR election requirements.

Debt Structure and Restrictions

Types of debt issued

The City may issue both short term and long term debt, including, but not limited to the following:

1. Short term: Tax, grant, fee, or bond anticipation notes; commercial paper; or variable rate demand notes may be issued when such instruments allow the City to meet its cash flow requirements or provide increased flexibility in its financing program. No maturity of any such issue shall extend beyond December 31 of the year in which it is issued.

2. Long-term: The City may issue general obligation bonds, certificates of participation, special assessment bonds, self-liquidating and double barreled bonds. The City may also enter into long-term leases for public facilities, property and equipment for a period not to exceed the useful life of the asset being financed.

Useful life of financed asset and maturity of debt issue

No bonds or certificates of participation shall be issued for an asset with a useful life of less than ten years. Leases may be entered into for assets with useful lives of three years or more. The duration of a debt issue shall not exceed the useful life of the financed asset. The financing schedule and repayment of debt shall be timed to take advantage of market conditions and, as practical, to maximize its credit capacity for future use.

Sale of securities

Debt issues may be sold either through a negotiated sale or a competitive bid process depending on which is likely to yield the best results for the City.

Credit enhancements

The City may enter into agreements with commercial banks, insurance companies, or other financial entities for the purpose of acquiring letters of credit, municipal bond insurance, or other credit enhancements that will provide the City with access to credit when its use is judged cost-effective or otherwise advantageous.

Call provisions

Bond calls should be as short as possible consistent with the goal of minimizing interest costs. Call premiums should reflect the true economic cost of calling the securities.

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Financing replacement infrastructure

Long-term debt issuance shall not be used to finance ongoing replacement of infrastructure. Such financing shall be provided through adequate cash funding in the capital budget each year.

Leases

Operating leases for capital equipment are appropriate when circumstances dictate that owning the equipment is not in the best interests of the City or if cash flow projections indicate that buying outright causes City cash balances to go below acceptable levels.

Lease/Purchase agreements for capital assets which mature in less than ten years shall not be allowed unless the City’s expected interest earnings rate on investments exceeds the lease effective interest rate for the duration of the lease or unless cash flow projections indicate that buying outright causes City cash balances to go below acceptable levels.

General operating costs

No general operating costs may be financed through long-term debt. General operation costs include, but are not limited to, those items normally funded in the City’s annual operation budget and having a useful life of less than one year.

Enterprise debt affordability target

In general, revenue bonds or other debt instrument should not be issued for a City enterprise fund if the issuance causes fees for services to exceed 125% of the average Denver metro rate for the service provided unless reason for the debt is deemed necessary for the health, safety, or welfare of the citizens of Golden. Enterprise fund debt shall be paid exclusively through enterprise activity revenues.

Overlapping debt affordability target

Non-enterprise general obligation (G.O.) long-term debt should not be issued if, when combined with overlapping G.O. debt from other entities, it places an excessive burden on the citizenry. Overlapping non-enterprise G.O. debt exceeding $2,500 per capita or 8% of the assessor’s market valuation should be used as a guideline when evaluating the issuance of new debt.

Amount of issue

The debt issue shall be sized appropriately for the project being financed. Consideration should be given to the exceptions to arbitrage calculation requirements, the market advantages of issuing bank qualified debt, and the possibility of issuing the debt in several series’ for multi-year projects. In determining the minimum debt issuance, Council shall review related costs of issuance to see if debt is the most cost-effective financing mechanism.

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Certificates of Participation (COP’s)

COP’s are documents that act like bonds but are structured more like leases. The security for the COP’s are typically a pledge of assets being financed and the City’s intent to make the necessary annual appropriations during the term of the lease agreement. No pledge of full faith and credit of the City is made. Consequently, the obligation of the City to make basic rental payments does not constitute an indebtedness of the City. City Council may authorize the issuance of COP’s. A vote of the electorate is not required.

Debt Administration

The City shall prepare appropriate disclosures as required by the law or regulation of an agency with supervision over the disclosure. Additionally, the City shall meet the highest ethical and professional standards regarding disclosure.

The Director of Finance/Treasurer shall administer and coordinate the City’s debt issuance program and activities, including time of issuance, method of sale, structuring the issue, and marketing strategies for the purpose of making recommendations to the City Manager and City Council. Outside professionals (including Bond Counsel, Financial Advisors, and Arbitrage Specialists) may be utilized to assist in this process.

The City shall maintain effective relations with the rating agencies and the investment community through the annual distribution of financial reports and other appropriate information upon request.

The City shall consider refunding outstanding debt when legally permissible and financially advantageous. A net present value debt service savings of at least five percent or greater should be achieved.

The City shall actively manage the proceeds of debt issued for public purposes in a manner that is consistent with its investment policy. The management of the debt proceeds shall enable the City to respond to changes in markets or changes in payment or construction schedules so as to (i) minimize risk, (ii) ensure liquidity, and (iii) optimize returns. Most crucially, the City shall ensure that the project financed by debt is completed in a timely manner.

The City shall maintain a system of accounting to calculate bond investment arbitrage earnings in accordance with the Tax Reform Act of 1986. Such amounts, if any, shall be calculated annually and transferred to a federal arbitrage rebate agency fund for eventual payment to the United States Treasury.

Debt service coverage ratios shall be maintained through ongoing cost of service studies to determine adequate user rate changes.

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FINANCIAL TREND MONITORING SYSTEM

CITY OF GOLDEN

AN EVALUATION OF FINANCIAL TRENDS 2003 - 2007

Prepared by

The Finance Department

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CITY OF GOLDEN

AN EVALUATION OF FINANCIAL TRENDS 2003 - 2007

Table of Contents

Page Number SUMMARY........................................................................................ 282 INTRODUCTION Financial Condition ................................................................ 284 How to Use This Report ........................................................ 285 Methodology .......................................................................... 285 Definitions............................................................................... 286 TREND EVALUATIONS BY FACTOR

Revenues .............................................................................. 288 Expenditures........................................................................... 296 Operating Position .................................................................. 300 Debt Indicators ..................................................................... 309 Unfunded Liabilities ............................................................... 313 Capital Plant .......................................................................... 317 Local Economic and Demographic Characteristics .............. 322

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Appen

dix BFTM

S

APPENDIX B

FINANCIAL TRENDMONITORING SYSTEM (FTMS)

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LIST OF INDICATORS Factor Indicator Page Revenues Revenues Per Capita............................................................... 289 Property Tax Revenues ........................................................... 290 Intergovernmental Revenues................................................... 291 Elastic Tax Revenues .............................................................. 292 One-Time Revenues................................................................ 293 Restricted Operating Revenues............................................... 294 Revenue Surplus (Shortfalls) ................................................... 295 Expenditures Expenditures Per Capita .......................................................... 297 Employees Per 1,000 Citizens................................................. 298

Employee Benefits ................................................................... 299 Operating Position Operating Revenues Over (Under) Expenditures.................... 302 Fund Balances ......................................................................... 303 Liquidity .................................................................................... 304 Utility Operations - Income and Losses ................................... 305 Community Center Operations - Income and Losses.............. 306 Cemetery Operations - Income and Losses ............................ 307 Splash Operations – Income and Losses ……………………... 308 Debt Indicators Current Liabilities ..................................................................... 310 Combined Long-Term (Overlapping) Debt .............................. 311 Debt Service............................................................................. 312 Unfunded Liabilities Unfunded Pension Liability and Pension Assets (Volunteer Firefighters’ Pension) ....................................... 314 Accumulated Employee Leave ................................................ 315 Pension Plan Assets (Volunteer Firefighters’ Pension) ........... 316 Capital Plant Capital Equipment Outlay ........................................................ 317 Depreciation – Governmental and Business ........................... 318 Type Activities Infrastructure Replacement...................................................... 319 Local Economic and Median Age.............................................................................. 323 Demographic Property Value ......................................................................... 324 Characteristics Employment Base.................................................................... 325 Business Activity ...................................................................... 326 Population ................................................................................ 327

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SUMMARY

As part of the annual budget review and process, the City has prepared an historic evaluation of the financial condition of the City. This evaluation organizes the numerous factors that affect the City’s financial condition into identifiable trends that can be monitored. Analysis of positive and negative trends allows the City to make informed plans and recommendations.

Methodology:

Financial condition is defined as the ability of the City to fund the services required both now and in the future. Services are costs essential to maintaining the quality desired and required for the health, safety and general welfare of the citizens. The City uses the Financial Trend Monitoring System developed specifically for local governments by the International City/County Management Association (ICMA) as the foundation for this analysis.

This analysis is developed around seven major factors, each having measurable financial condition indicators:

Factors

Revenues Expenditures Operating Position Debt Indicators Unfunded Liabilities Capital Plant Local Economic and Demographic Characteristics

For each factor, the quantifiable indicators of the level of solvency are identified, graphed and the trend analyzed. To assist in understanding the detailed information, the definitions included in the introductory section should be reviewed.

Analysis:

In 2007, the national and local economies were faced with concerns, primarily due to increased fuel costs and the impacts on other areas of the economy. For the City, both revenues and expenditures were generally stable in 2007 as compared to 2006. As a result, most trends stayed fairly consistent for 2007. Based on the trends, the areas that warrant the most attention and follow up are some of the enterprise funds – most notably the Wastewater Fund, Community Center, Splash, and the Cemetery.

The City’s revenues have been buffered by its diverse sales and use tax base. New commercial and industrial construction and a strong housing market provide for a strong property tax base. On the expense side, increasing operational costs (including fuel and utility costs) and upward pressures on wages and benefits, especially health insurance, continue to be the most significant impact to the City’s budget.

Inflation increased marginally in 2007 and continues to remain low. Declining interest rates and increasing fuel and energy costs provide for some volatility for consumers and businesses as well.

Revenues

Revenues continue to remain strong and continue to increase annually due to a diverse revenue structure in the General Fund. The impact of the economic slowdown several years ago was felt in several revenue areas, specifically sales tax, construction and other use taxes as consumers and businesses were more conservative in their discretionary spending. After a low point in 2003, those revenues have increased since 2004, and continue to improve through the first half of 2008. Looking forward, sales tax revenues are expected to increase with inflation and population growth. The closing of Golden Ford early in 2007 and Foss General Store later in 2007 impacted sales tax revenues, but will provide for other retail

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opportunities in the area. The opening of Staples in Fall 2007 and Big 5 Sporting Goods in June 2008 will bring in new sales tax dollars to the City and will more than offset the lost revenue from Foss and Golden Ford. New construction has made additional retail locations available downtown and at Interplaza. Pro-active marketing efforts continue to highlight the City and generate interest in Golden businesses, particularly in the downtown area.

Expenditures

Expenditures have been increasing over the past several years as the City’s boundaries grow outside of its central core, service needs increase, and outside pressures on costs climb. Both salaries and benefits continue to experience upward pressure in order for the City to recruit and retain quality employees. Health care and the related cost of insurance have, and are expected to continue to increase. For 2007, the City was again able to keep those increases to a minimum.

Also included in expenditures are economic incentive costs. However, the revenues generated from these businesses more than offset the incentives. The incentive payouts decreased significantly in 2006 as the incentives for Kohl’s and Home Depot were completed. The larger, remaining incentives will expire in 2009.

Operating Position

The health of the City’s operating position in the General Fund is reflected in the indicators. The Fund consistently shows an operating surplus, with any deficits (such as 2004) planned and budgeted for. Fund balances and liquidity ratios continue to be at the high end of acceptable levels. As previously mentioned, the operating position of some of the City’s enterprise funds needs to be carefully monitored.

Debt Indicators

In 2001, the City refinanced outstanding Sales/Use Tax Revenue Bonds and issued $29 million in new voter-approved revenue bonds for the construction of the Fossil Trace Golf Club, The Splash Aquatic Park, acquisition of Open Space lands, and other recreational facilities. The bonds are fully insured and are pledged against sales/use tax revenues. In 2006, Certificates of Participation were issued to finance the construction of a new Shops Facility and assist in the reconstruction of Fire Station #1. Sales and use tax revenues are budgeted to make the annual debt service payments. The City does not have any debt that is to be repaid from property tax or other general funds of the City.

Unfunded Liabilities

The Volunteer Firefighters’ Pension Fund actuarial study as of January 1, 2007 has indicated that the current level of contributions is adequate to support the plan. Market conditions since 2004 have been favorable and resulted in an increase in the portfolio value, offsetting some of the decline from previous years.

Capital Equipment

Expenditures in Public Safety and Public Works over the past several years have made significant progress in maintaining, replacing and upgrading infrastructure, buildings and equipment. Fleet, Information Technologies, Streets, and Utilities all have standard maintenance and replacement schedules. Larger projects are laid out in the 10-Year Capital Improvement Plan.

Local Economic and Demographic Characteristics

Golden continues to enjoy a strong local housing market, with stable and predictable population growth due to the citizen-initiated 1% residential growth limit. The demand for new single family permits has slowed somewhat, but continues to outpace supply. Unemployment has dropped since 2003. Projections for the near future do indicate continued economic growth, but at a fairly slow pace.

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INTRODUCTION

This report provides analytical information on the City of Golden. It is prepared in accordance with the Financial Trend Monitoring System (FTMS) developed by the International City/County Management Association (ICMA). Generally accepted government accounting standards were followed for the data presented in this report.

The FTMS was developed by the ICMA with assistance from representatives of more than 30 state and local jurisdictions. The FTMS identifies and organizes factors that affect financial condition so they can be evaluated. Data is collected from the City's annual financial reports, budgets, local population and other demographic information. The FTMS provides for consistent reporting and display of the information to permit the analysis of historical trends.

The system incorporates the major financial indicators used by national bond-rating organizations to evaluate the City's credit-worthiness. The FTMS identifies more than 30 measures or indicators of financial condition. Tracking the indicators over a number of years offers a way to quantify and evaluate a government's financial condition and identify strengths and potential problem areas. The indicators can be used as early warning signs when certain trends are apparent.

FINANCIAL CONDITION

Sound financial condition encompasses four measures of solvency: cash, budgetary, long-term and service-level.

Cash solvency is the ability of a government to generate sufficient cash over a 30 to 90 day period to pay its bills.

Budgetary solvency is the ability to generate enough revenues during the budget year to meet expenditures and not incur deficits.

Long-term solvency is the ability to pay not only the costs of doing business in the current year, but also those that will come due in future years (i.e., accrued employee leave, pension costs).

Service-level solvency is the ability to provide service at the level and quality desired by citizens and required for the health, safety and welfare of the community.

The solvency or sound financial condition of the government depends on the organization's ability to balance the demands for service with its available financial resources.

Monitoring financial condition allows managers to identify existing and emerging financial problems and develop solutions in a timely manner. Effective monitoring can also provide additional information for the annual budget process, give City Council a wider context for decision-making and establish a starting point for setting financial policies. The FTMS is just one tool to accomplish financial monitoring.

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HOW TO USE THIS REPORT

The report is divided into seven sections, one for each major financial condition factor:

Revenues Expenditures Operating Position Debt Indicators Unfunded Liabilities Capital Plant

Local Economic and Demographic Characteristics

Each section contains quantifiable indicators that are used to analyze the factor. The format of the analysis of each indicator is as follows:

Formula for computing the indicator Yearly graphic and chart representations of the indicator’s trend Indicator warning trends General description of how the indicator is used to measure financial condition Commentary on the City of Golden indicators Analysis of the indicator trends for the City of Golden

METHODOLOGY

The objective of the review is to evaluate the financial condition of the City of Golden for the past five years. The analysis is based on the City's Comprehensive Annual Financial Report (CAFR), revenue and expenditure reporting, statistical/demographic data, payroll records and other subsidiary records. The Public Works Department provided capital plant measurements, and the Planning and Development Department provided input on demographic and socio-economic data.

When required for analysis, indicators were expressed in constant dollars based upon the Denver-Boulder Consumer Price Index for All Urban Consumers.

The FTMS excludes Enterprise and Internal Service Funds from its definition of operating revenues and expenditures, as well as revenues dedicated to specific types of capital improvements. The following funds are excluded, except when otherwise stated: Water, Wastewater, Drainage, Community Center, Cemetery, The Splash Aquatic Park, Fossil Trace Golf Club, Rooney Road Sports Complex, Fleet, Information Technology, Insurance Fund, Medical Benefits Fund, Worker’s Compensation Fund and Capital Projects Funds.

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DEFINITIONS

The terminology defined below is used consistently throughout this document. Reviewing definitions prior to analysis will make the report easier to understand.

REVENUES

General Fund Revenues

The General Fund is used to account for most of the government’s activities, including Police, Fire, Administration, Public Works, Streets, Municipal Court and Parks. General Fund revenues are those which are collected for unspecified uses including, but not limited to, two cents of the three cent sales/use tax, property taxes, and building use tax and permit fees.

Net Operating Revenues

Included are general fund revenues from property and sales/use taxes, franchise fees, administrative service fees, campground fees and other user fees (not including community center and water/wastewater enterprise fund fees which are looked at individually by fund). Also included are various intergovernmental revenues.

Intergovernmental Revenue

Subset of net operating revenues. Includes County and State collected shared revenues as well as grant monies received from other governmental agencies.

Restricted Operating Revenues

Includes general fund grant monies and funds set aside for specific capital projects.

Elastic Tax Revenues

Includes general fund sales and non-building use tax revenues.

One-Time Revenues

Includes all grants, and certain General Fund revenues over a base amount (sales/use tax, building permits/fees, building use tax, audit assessments).

EXPENDITURES

Net Operating Expenditures

Includes salaries and wages, fringe benefits, operating costs, and machinery and equipment purchased by the General Fund.

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Fringe Benefit Expenditures

Includes General Fund vacation/sick accruals, insurance, disability and education expenditures.

Capital Equipment Outlay

Includes machinery and equipment purchased for the general government operations, primarily with General Fund dollars.

OPERATING POSITION

General Fund Operating Surplus (Deficit)

General Fund gross revenues less expenditures including transfers to/from other funds.

Enterprise Operations Income and Loss

Enterprise funds for the City include the Community Center, Water, Wastewater, Drainage Services, Cemetery Operations, The Splash Aquatic Park, and Fossil Trace Golf Club. Income includes charges for services and user fees. Depreciation is included as an expense since costs of replacement should be accounted for in user charges and fees.

DEBT LEVELS

Current Liabilities

Includes General Fund accounts payable and accrued liabilities for amounts to be paid within the current calendar year.

Net Direct Debt Service

Includes principal and interest payments on the sales and use tax revenue bonds.

UNFUNDED LIABILITIES

Unfunded Pension Plan Liability

Calculated as the net of the amount available in the plan for benefit distribution and the total obligation to be paid as determined by actuarial calculations.

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TREND EVALUATION: REVENUES

SUMMARY

Revenues determine the capacity of the City to provide services. Important issues to consider in revenue analysis are growth, flexibility, elasticity, dependability, diversity and administration. Under ideal conditions, revenues would be growing at a rate equal to or greater than the combined effects of inflation and expenditures. Revenues would be sufficiently flexible (free from spending restrictions) to allow adjustments to changing conditions. Revenues would be balanced between elastic and inelastic in relation to inflation and the economic base; that is, some would grow with inflation and the economic base and others would remain relatively constant. Revenue sources would be diversified not overly dependent on residential, commercial, industrial land uses, or on external funding sources such as federal grants or discretionary State aid. User fees would be regularly evaluated to cover cost increases.

Analyzing revenue structure will help to identify the following types of problems:

Deterioration of the revenue base Practices or policies that may adversely affect revenue yields Lack of cost controls, or poor revenue-estimating practices Inefficiency in the collection and administration of revenues Over dependence on obsolete or intergovernmental revenue sources User fees that are not covering the cost of services Changes in the tax burden on various segments of the population

INDICATORS

Revenues Per Capita Property Tax Revenues Intergovernmental Revenues Elastic Tax Revenues One-Time Revenues Restricted Operating Revenues Revenue Surplus (Shortfalls)

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Revenues per Capita

Warning Trend:Decreasing Net Operating Revenues per Capita(constant dollars)

Formula:Net Operating Revenues (constant dollars)

Population

Fiscal year: 2003 2004 2005 2006 2007Net Operating Revenues * 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000Consumer Price Index 186.8 187.0 190.9 197.7 202.0Net Operating Revenues (constant dollars) 19,323,000 20,546,000 22,576,000 22,711,000 23,590,000Population 17,513 17,751 17,861 17,863 17,906Net Operating Revenues per Capita (constant dollars) 1,103 1,157 1,264 1,271 1,317

* Operating revenues : general fund revenues, including carryover cash, plus operating transfers from other funds.

Description:

Commentary:

Analysis:

Examining per capita revenues shows changes in revenues relative to changes in population size and rate of inflation. Aspopulation increases, it might be expected that revenues and the need for services would increase proportionately, and thereforethat the level of per capita revenues would remain at least constant in real terms. If per capita revenues are decreasing, thegovernment may be unable to maintain existing service levels unless it finds new revenue sources or increases productivity. Thisreasoning assumes that the cost of services is directly related to population size.

Operating revenues consist of amounts received in the General Fund from property taxes, sales and use taxes, fire contract fees,recreation fees, fines & forfeitures, license & permit fees, utility administration fee, state-shared revenue, county-shared revenue,interest and unexpended cash (carryover cash) brought forward from the prior year. They are used for on-going City services suchas fire, police, public works, streets, parks, planning and central administration. The City also transfers a significant amount ofGeneral Fund Revenues to the Capital Improvements Fund. Revenues from enterprise operations such as water and sewerservices are excluded.

Decreasing operating revenues per capita may reduce a government's ability to maintain existing service levels. Therefore,decreases are a warning trend for this indicator.

Net Operating Revenues have grown each of the past 5 years. Increases in sales & use tax revenues and audit revenuesaccounted for the majority of the increase in 2007. Carryover cash also increased in 2007.

The population estimates for the last 5 years were revised by the Planning Department in 2006, but had minimal impact on the trend.

Looking forward, Net Operating Revenues are expected to continue to grow. However, with the minimal residential growth as aresult of the City's growth cap, future increases in the trend are not expected to be significant. The prospect of additional retail innewly created retail areas downtown and at Interplaza should help the trend.

Revenues per Capita

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Property Tax Revenues

Warning Trend:Decline in Property Tax Revenues(constant dollars)

Formula:Property Tax Revenues

(constant dollars)

Fiscal year: 2003 2004 2005 2006 2007Property Tax Revenues 3,296,000 3,481,000 3,497,000 3,709,000 3,739,000Consumer Price Index 186.8 187.0 190.9 197.7 202.0Property Tax Revenues (constant dollars) 3,296,000 3,477,000 3,422,000 3,505,000 3,458,000

Description:

Commentary:

Analysis:

Property Tax Revenues Constant Dollars

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Property Tax Revenues should be considered separately from other revenues, because most local governments rely heavily onthem. A decline or a diminished growth rate in property taxes can have a number of causes. First, it may reflect an overall decline inproperty values resulting from the aging of buildings; a decline in local economic health; or a decline in total number of households,which can depress the housing market. Second, it may result from unwilling default on property taxes by property owners. Third, itmay result from inefficient assessment or appraisal. Finally, a decline can be caused by deliberate default by property owners, whorealize that delinquency penalties are less than short-run interest rates and that nonpayment is therefore an economical way toborrow money.

Property taxes are paid on the assessed values of real, personal and utility property. City property taxes are generated by a mill levywhich supports on-going General Fund services and transfers to Capital Programs. The mill levy has remained constant since 1992.Taxes levied for repayment of Golden Downtown General Improvement District (GDGID) debt for public parking lot purchases areexcluded from this analysis.

The Colorado Constitution via the Taxpayer Bill of Rights amendment (TABOR) does not allow a mill levy increase without anaffirmative vote of the electorate in Golden. Golden taxpayers have paid $12.34 per $1,000 of assessed value each year since1992.

Decreasing Property Tax Revenues (when expressed in constant dollars) constitute a warning trend.

The health of the local housing market is indicated by the increasing assessed valuations and related property tax revenues overthe last few years. Golden's one percent growth limit continues to keep demand for residential property in excess of supply.

The slight decline in constant dollar revenues in odd numbered years is due to the biennial reassessment of property by JeffersonCounty. As the County reassesses properties, the revenues show large gains in even numbered years,

This trend continues to be strong and stable.

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Intergovernmental Revenues

Warning Trend:Increasing amount of IntergovernmentalOperating Revenues as a percentage of

Net Operating Revenues

Formula:Intergovernmental Operating Revenues

Net Operating Revenues

Fiscal year: 2003 2004 2005 2006 2007Intergovernmental Operating Revenues 1,286,000 1,486,000 1,503,000 1,322,000 1,259,000Net Operating Revenues 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000Intergovernmental Operating Revenuesas a percentage of Net Operating Revenues 6.7% 7.2% 6.5% 5.5% 4.9%

Description:

Commentary:

Analysis:

Intergovernmental Revenues (revenues received from another governmental entity) are important, but an overdependence on suchrevenues can be harmful. Federal and state governments have struggled with their own budgetary problems in the last decade, whichhas lead to their frequent withdrawal or reduction of payments to local governments, serving as one of their cutback measures. Localgovernments with budgets largely supported by intergovernmental revenues have been particularly harmed during this period, but almostall local governments have been impacted. The reduction of intergovernmental funds leaves the municipal government with the dilemmaof cutting programs or funding them from general fund revenues.

Nevertheless, a municipality might want to maximize its use of Intergovernmental Revenues, consistent with its service priorities andfinancial condition. For example, a local government might want to rely on Intergovernmental Revenues to finance a federal or statemandated service or a one-time capital project. The primary concern in analyzing intergovernmental revenues is to know and monitor thelocal government's vulnerability to reductions of such revenues, and determine whether the local government is controlling its use of theexternal revenue, or whether these revenues are controlling local policies.

Increasing Intergovernmental Revenue to support general City services signals an overdependence. If there is a risk that these revenuescould be withdrawn, the City would be forced to find additional revenue or to cut services to reduce costs. Therefore, an increasingpercentage can be viewed as a warning.

The percentage of Intergovernmental Revenues has decreased over the last 4 years.

Revenues come from County shared taxes as well as State and Federal grants. The tax revenues received (Cigarette Tax, AutomobileTax and County Road and Bridge Tax) are projected decline slightly, but will be a fairly stable revenue base in the future. The revenuefrom the Gaming Grant has also been stable in the past, with an increase for 2008 after declines in 2006 and 2007, and helps offsetrelated public safety expenditures.

The decline in intergovernmental revenues in 2006 and 2007 could be a concern. But with Net Operating Revenues increasing, theconcern is minimized with other revenues picking up the slack.

Intergovernmental Revenues

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Elastic Tax Revenues

Warning Trend:Decreasing amount of Elastic Tax Revenuesas a percentage of Net Operating Revenues

Formula:Elastic Tax Revenues

Net Operating Revenues

Fiscal year: 2003 2004 2005 2006 2007Elastic Tax Revenues 7,618,000 7,952,000 8,176,000 8,681,000 9,470,000Net Operating Revenues 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000Elastic Operating Revenues as a percentageof Net Operating Revenues 39.4% 38.7% 35.4% 36.1% 37.1%

Description:

Commentary:

Analysis:

The yields of Elastic Tax Revenues are highly responsive to changes in economic base and inflation. As the economic base expands orinflation goes up, elastic revenue amounts rise roughly proportionally or greater, and vice versa. A good example is sales tax revenue,which increases during good economic periods through increased retail business and declines during poor times, even though the taxrate remains the same. Yields from inelastic revenue sources, such as license fees or user charges, are relatively unresponsive tochanges in economic conditions and require that government officials change fees or charges to create a change in revenue. The yieldsfrom these revenues usually lag behind economic growth and inflation because local legislative bodies are reluctant to increase themeach year. If properties are not frequently reassessed, property tax revenues can also be inelastic, especially during periods ofeconomic growth.

A balance between elastic and inelastic revenues mitigates the effects of economic growth or decline. During inflation, it is desirable tohave a high percentage of elastic revenues because inflation pushes up revenue yield, keeping pace with the higher prices thegovernment must pay. If the percentage of elastic revenues declines during inflation, the government becomes more vulnerablebecause inflation pushes up the price of services but not the yields of new revenues. The reverse is also true (i.e., a low percentage ofelastic revenues is desirable in times of deflation), but significant deflation has seldom occurred in recent years.

During a recession, a high percentage of inelastic revenues is an advantage. This insulates the tax base to some degree from thereduced yield it can receive during a recession.

Elastic Tax Revenues are highly responsive to economic changes. The City's only major General Fund revenue that is classified aselastic is sales/use tax. A balance between elastic and inelastic revenues mitigates the effects of economic growth and decline.

Declining elastic revenues are considered a warning trend because they may place a government in jeopardy during periods of highinflation or rapid economic growth. However, overdependence on Elastic Sales Tax Revenues can reduce resources during economicdownturns.

Since 2004, the City has enjoyed increasing sales tax revenues as a result of a strong local economy. Use tax revenue also increasedin 2004, 2005, and 2007. The large amount of audit revenue in 2005 inflated the Net Operating Revenue and, as a result, negativelyimpacted the percentage for the year.

Golden's sales tax base has a large component of inelastic remitters included in the utilities/telecommunications and grocery sectors.The percentage of sales tax paid for electricity, gas, phone service and food purchases are considered necessities and a stable taxcomponent. Over 26% of the City's sales tax revenues come from utilities, grocery, and telecommunications.

Given the continued increases in Elastic Tax Revenues and Net Operating Revenues, and that the overall percentage of Elastic TaxRevenues continues to be a relatively high percentage, the decline in 2005 was not considered significant. The increase in thepercentage in 2006 and 2007 is a positive sign that the City's sales/use tax revenues continue to be strong.

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One-Time Revenues

Warning Trend:Increasing use of One-Time Operating Revenues

as a percentage of Net Operating Revenues

Formula:One-Time Operating Revenues

Net Operating Revenues

Fiscal year: 2003 2004 2005 2006 2007One-Time Operating Revenues 1,024,000 1,424,000 2,666,000 1,798,000 1,693,000Net Operating Revenues 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000One-Time Operating Revenues as a percentageof Net Operating Revenues 5.3% 6.9% 11.6% 7.5% 6.6%

Description:

Commentary:

Analysis:

One-Time Revenues

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2003 2004 2005 2006 2007

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Per

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A One-Time Revenue is one that cannot reasonably be expected to continue, such as a single-purpose federal grant, an interfundtransfer, or use of a reserve. Also included as One-Time Revenues are use taxes derived from unusual new construction projects orupgrades of existing facilities. Continual use of One-Time Revenues to balance the annual budget can indicate that the revenue base isnot strong enough to support current service levels. It can also mean that the government is incurring operating deficits and would havelittle room to maneuver if there were a downturn in revenues (such as occurs during a regional or national recession or because of thesudden expenditures occasioned by a natural disaster). Use of One-Time Revenues increases the probability that the government willhave to make large cutbacks if such revenues cease to be available, which may occur when the Federal Government reduces a majorgrant program or when reserves are depleted.

One-Time Revenues are resources that cannot reasonably be expected to continue beyond a single year. These revenues includeinterfund transfers and loans, grants, use of reserves and surpluses, and sales of property.

Continued use of one-time revenues to balance the budget indicates current service level costs exceed ordinary revenue. Therefore,increases constitute a warning trend.

Changes in the dollar amount of one time revenues is driven by the timing of grants, new commercial construction, investment interestand sales tax audit revenues.

In 2004 and 2005, the majority of the increases occurred in audit revenues. These increases are also reflected in the total NetOperating Revenues and carryover cash. The decrease in the percentage in 2006 shows some decrease in audit revenue, but still atan acceptable level. The decrease in 2007 is primarily from a decline in grant revenues.

Overall, the City's reliance on one-time revenues continues to be minimal.

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Restricted Operating Revenues

Warning Trend:Increasing amount of Restricted Operating Revenues

as a percentage of Net Operating Revenues

Formula:Restricted Operating Revenues

Net Operating Revenues

Fiscal year: 2003 2004 2005 2006 2007Restricted Operating Revenues 1,199,000 1,421,000 1,172,000 1,238,000 1,698,000Net Operating Revenues 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000Restricted Operating Revenues as a percentage of Net Operating Revenues 6.2% 6.9% 5.1% 5.2% 6.7%

Description:

Commentary:

Analysis:

Restricted Operating Revenues

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2003 2004 2005 2006 2007Fiscal year

Perc

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These revenues are reserved for specific purposes including certain grants, donations, lease proceeds and capital program transfers.

As the percentage of Restricted Operating Revenues increases, the City loses its ability to respond to changing conditions and citizenneeds and demands. Increases in the use of restricted revenues may indicate an overdependence on external revenues and signal afuture inability to maintain service levels. The warning trend for this indicator is an increasing percentage.

A Restricted Operating Revenue is legally earmarked for a specific use, as may be required by state law, bond covenants, or grantrequirements. For example, many states require that gas tax revenues be used only for street maintenance or construction. Alsoincluded in Restricted Operating Revenue are General Fund transfers to other funds, including the Community Center Fund and theCapital Programs Fund. While these General Fund transfers are discretionary, the dollars are earmarked for specific projects and arenot budgeted as available for general expenditures.

From one perspective, it would seem that many of these restrictions, especially those relating to outside funding, should not affect alocal government's financial health. The government has the option of not accepting the revenue and of not providing the service. Thisoption, however, is not always easy to exercise; governments develop economic and political dependencies on these revenues and onthe programs they support. Moreover, many governments finance their own essential services with intergovernmental revenues, whichmakes it doubly hard to cut them out.

Fluctuations in Restricted Operating Revenue will depend primarily on amounts transferred to other funds and on grant revenuesreceived. COPS grant revenues increased in 2004. 2005 was an off year for the LEAF Grant

Restricted Operating Revenues include transfers to the Cemetery Operating Fund, Community Center Fund, and Capital ProgramsFund; Police, Gaming, Historical Society and other grant revenues; and the sales tax vendor fee, specifically earmarked for economicdevelopment.

Beginning in 2003, transfers to other funds were significantly reduced. This was partly in response to declining tax revenues and also tomeet a Council goal of reduced subsidies to the Community Center. In 2006, transfers to the Cemetery Operating Fund and SplashFund increased compared to 2005. In 2007, Council authorized a one-time transfer of $730,000 to the SUT Fund towards theconstruction on Fire Station #1.

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Revenue Surplus (Shortfalls)

Warning Trend:Increase in revenue shortfalls as a

percentage of actual Net Operating Revenues

Formula:Revenue Surplus (Shortfall)

Net Operating Revenues

Fiscal year: 2003 2004 2005 2006 2007Revenue Surplus (Shortfall) (216,000) 350,000 1,011,000 794,000 1,290,000Net Operating Revenues 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000Revenue Surplus (Shortfall) as a percentage of Net Operating Revenues -1.1% 1.7% 4.4% 3.3% 5.1%

Description:

Commentary:

Analysis:

Revenue Surplus (Shortfalls)

-2%0%2%4%6%

2003 2004 2005 2006 2007

Fiscal year

Per

cent

This indicator examines the differences between revenue estimates and revenues actually received during the fiscal year. Majordiscrepancies that continue year after year can indicate a declining economy, inefficient collection procedures, or inaccurate estimatingtechniques. Discrepancies may also indicate that high revenue estimates are being made to accommodate political pressures. Ifrevenue shortfalls are increasing in frequency or size, a detailed analysis of each revenue should be made to pinpoint the source.

This indicator reflects the difference between revenues estimated in the Final Adopted Budget and revenues actually received. Majorshortfalls can indicate inaccurate estimating techniques, sharp fluctuations in the economy or inefficient revenue collection.

Revenue shortfalls may result in mid-year cuts of services, spending of reserve funds, or increased use of short-term borrowing.Large or frequent shortfalls constitute a warning trend.

The City's budgeting process combines historical revenue trends with current and anticipated economic conditions. Budget amountsare compared to actual throughout the year and adjustments made through supplemental appropriations. Surplus or shortfalls within+/- 3% are considered reasonable. Ongoing shortfalls indicate a need to be more conservative in revenue projections during thebudget process.

2003: The shortfall is due to sales tax revenue coming in $598,000 below budget. Cumulatively, all other General Fund revenuesyielded a surplus.

2004: The surplus is result of increases in audit revenue, sales tax licenses, court and traffic fines, and misc. revenues.

2005: The surplus is primarily a result of increased audit revenue.

2006: The surplus is primarily from use tax and audit revenues.

2007: The surplus is primarily from sales and use tax.

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Page 296 City of Golden 2009/2010 Biennial Budget

TREND EVALUATION: EXPENDITURES SUMMARY

Expenditures are a rough measure of the City's service output. Generally, the more the City spends in constant dollars, the more services it is providing. However, this formula does not take into account how effective the services are or how efficiently they are delivered. To determine whether the City of Golden is living within its revenues, the first issue to consider is expenditure growth rate.

Because the City is required to have a balanced budget, it would seem unlikely that expenditure growth would exceed revenue growth. Nevertheless, the annual budget can be balanced in a number of subtle ways that will create a long-run imbalance in which expenditure outlays and commitments grow faster than revenues. Some of the more common ways are to borrow, use reserves, use bond proceeds for operations, or siphon small amounts from intergovernmental grants. Other ways are to defer capital maintenance or to defer funding of a future liability such as a pension plan. In each of these cases, the annual budget remains balanced, but the long-run budget develops a deficit. Although long-run deficits can be funded through windfalls such as state grants or revenue surges created by inflation, allowing such deficits to develop is risky.

A second issue to consider is expenditure flexibility. Expenditure flexibility is a measure of the freedom to adjust service levels to changing conditions and considers the level of mandatory or fixed costs. An increase in mandatory costs such as debt service, matching requirements and pension benefits renders the City less able to adjust to change.

Analyzing the City's expenditure profile will help to identify the following types of problems:

Excessive growth of expenditures as compared to revenue growth or community wealth An undesirable increase in fixed costs Ineffective budgetary controls A decline in personnel productivity Excessive growth in programs that create future expenditure liabilities

INDICATORS

Expenditures Per Capita Employees Per 1,000 Citizens Employee Benefits

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Expenditures per Capita

Warning Trend:Increasing Net Operating Expenditures per Capita(constant dollars)

Formula:Net Operating Expenditures (constant dollars)

Population

Fiscal year: 2003 2004 2005 2006 2007Net Operating Expenditures 15,371,000 16,966,000 17,639,000 17,623,000 17,997,000Consumer Price Index 186.8 187.0 190.9 197.7 202.0Constant dollar expenditures 15,371,000 16,948,000 17,260,000 16,651,000 16,643,000Estimated population 17,513 17,751 17,861 17,863 17,906Estimated households 7,766 7,879 7,931 7,910 7,937Per capita expenditures(constant dollars) 878 955 966 932 929Per household expenditures(constant dollars) 1,979 2,151 2,176 2,105 2,097

Description:

Commentary:

Analysis:

Constant dollar expendituresper household and per capita

0500

1,0001,5002,0002,500

2003 2004 2005 2006 2007

Fiscal year

Dol

lars

Per household Per capita

Changes in per capita expenditures reflect changes in expenditures relative to changes in population. Increasing per capita expenditurescanindicate that the cost of providing services is outstripping the community's ability to pay, especially if spending is increasing faster than theresidents' collective personal income. From a different perspective, if the increase in spending is greater than can be accounted for by inflationor the addition of new services, it may indicate declining productivity--that is, that the government is spending more real dollars to support thesame level of services.

Operating expenditures include personnel cost, materials and services and capital equipment costs in the General Fund. Operatingexpenditures do not include transfers to other funds. Increasing expenditures per capita can indicate that service costs are exceeding thecommunity's ability to pay. Also, increases not caused by new services many indicate declining productivity.

Expenditures Per Capita increased each year through 2005, primarily as a result of a tight labor market and the resulting increased salarycosts, and additionalCity services including more traffic enforcement and public relations/communications,as well as additionaladministrativepersonnel to meet increased organizational needs.

In general, Salaries continue to increase 3-5% per year. Specific areas of law enforcement and commercial licensed drivers still have veryshallow labor pools to hire from.

The City continues to grow with residential and commercial development, annexations, and additional parks and open space. With theseadditions have come increased service needs from Police, Fire, Parks, and Public Works.

Included in expenditures are economic incentive payments from the new developments and annexations. The amount of the incentivepayments decreased significantly in 2006 as some of the agreements were completed. Economic Incentive payments are more than offset byrevenues generated. See Revenues Per Capita.

The number of households in the City declined in 2006 due minimal residential construction and the closure of the Big Tree Mobile Home Park.

With the City's efforts to keep expenditures in check along with modest increases in population and number of households, the trends arestable with slight declines.

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Page 298 City of Golden 2009/2010 Biennial Budget

Employees per 1,000 Citizens

Warning Trend:Increasing number of municipal

employees per capita

Formula:Number of municipal employees

Population

Fiscal year: 2003 2004 2005 2006 2007Number of general fund full-time municipal employees * 125 135 137 137 140Population 17,513 17,751 17,861 17,863 17,906Number of municipal employees per 1,000 citizens 7.1 7.6 7.7 7.7 7.8

* Budgeted employees

Description:

Commentary:

Analysis:

General Fund Municipal Employees per 1,000 Citizens

0.02.04.06.08.0

10.0

2003 2004 2005 2006 2007

Fiscal year

Empl

oyee

s pe

r 1,

000

Because personnel costs are a major portion of a local government's operating budget, plotting changes in the number of employeesper capita is a good way to measure changes in expenditures. An increase in employees per capita might indicate that expendituresare rising faster than revenues, the government is becoming more labor intensive or personnel productivity is declining.

This measure is based on the number of full-time employees in the General Fund. It excludes employees of enterprise operationslike water, sewer and internal service functions like fleet management and information systems.

An increasing number of employees is a warning trend, which may indicate more labor intensive work or declining productivity. Anincreasing number of employees could also indicate a new service or a higher level of existing service.

Employees Per Capita have increased slightly during the 5-year period in response to community service needs. The City has grownover the past five years in terms of population, commercial/residential construction, physical area and recreation areas. Much of thedevelopment has been on the perimeter of the Cities boundaries requiring additional Police, Fire, and Public Works support.

The staffing increases in 2004 include additional police officers to address Council direction of increased traffic control, adding adispatcher, making a part-time court clerk full-time, the hiring of an administrative intern, and making the GURA Director a Cityemployee.

The increase in 2005 was due to the addition of 2 parks workers, needed due to the increasing amount of parks and open spacewithin the City.

The increase in 2007 was due to the addition of a volunteer recruiter position in the Fire Department (funded by a FEMA grant),making a part-time admin assistant full-time in the Fire Department, and making a part-time salestax auditor position full-time.

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2009/2010 Biennial Budget

Employee Benefits

Warning Trend:Increasing fringe benefit expenditures as a

percentage of salaries and wages

Formula:Fringe benefit expenditures

Salaries and wages

Fiscal year: 2003 2004 2005 2006 2007General Fund employee benefit expenditures 1,863,000 2,124,000 2,410,000 2,410,000 2,407,000Total salaries and wages 6,998,000 7,664,000 7,869,000 8,204,000 8,259,000Employee benefits as a percentageof total salaries and wages 26.6% 27.7% 30.6% 29.4% 29.1%

Description:

Commentary:

Analysis:

General Fund Employee Benefits as a Percentage of Salaries and Wages

0%10%20%30%40%

2003 2004 2005 2006 2007

Fiscal year

Per

cent

Expenditure dollars for Employee Benefits have continued to increase each year as a result of additional staffing and higher costs. Thecost of retirement benefits increases with the cost of salaries.

Salaries have increased each year as a result of the tight labor market over the past few years, as well as longevity and performance ofthe City's employees. However, with the current economic conditions and higher unemployment, the rate of increase is expected to keeppace with the economy but not to experience the pressure of the past several years.

Benefit costs and plan options are carefully monitored by Human Resources. Health insurance costs are split between employees andthe City.

The Front Range average for governmental entities for benefits is about 39%, including holidays, sick, and vacation pay.

For 2005, the City offered an additional 3% match towards retirement benefits and added a retirement health savings plan to the benefitspackage.

Benefits for 2005 & 2006 appear the same due to rounding. The decrease in benefits in 2007 is due to a decline in the year-end accrualfor compensated absences.

The most common forms of fringe benefits are pension plans, health and life insurance, vacation, sick and holiday leave, deferredcompensation, automobile allowances, disability insurance, educational and incentive pay. Benefits represent a significant share ofoperating costs, often amounting to more than 30% of employee compensation. Some benefits, such as health and life insurance,require immediate cash outlays; some, such as pension benefits or accumulated vacation pay, can be deferred for ten to twenty years;others, such as accumulated holiday and sick leave, may require either payment for the opportunity cost of not having the work done orpayment to additional employees to handle the work. Because the funding and recording of fringe benefits is a complex process, thesecosts can escalate unnoticed, straining the government's finances.

Employee benefits include the cost of health insurance, worker's compensation, retirement, unemployment insurance, long-term disability,life insurance and the employer portion of social security. Paid holidays, vacation and sick pay are not included. This analysis includesemployees in the General Fund. It does not include employees from enterprise operations such as water and sewer or internal servicefunctions such as fleet management or information systems.

Increasing employee benefits as a percent of salaries is a warning trend.

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Page 300 City of Golden 2009/2010 Biennial Budget

TREND EVALUATION: OPERATING POSITIONSUMMARY

The term operating position refers to the City's ability to (1) balance its budget on a current basis, (2) maintain reserves for emergencies and (3) have sufficient liquidity to pay its bills on time.

BALANCING THE CURRENT BUDGET

During a typical year, the City generates either an operating surplus or an operating deficit. An operating surplus develops when current revenues exceed current expenditures, and an operating deficit happens when the reverse occurs. Only in rare instances do revenues and expenditures balance exactly. An operating surplus or deficit may be created intentionally by a policy decision, or unintentionally because of the difficulty of precisely predicting revenues and expenditures, or trends in the underlying local and national economies. Usually, unreserved fund balances pay for deficits while surpluses are used to increase the fund balance. By Colorado statute, the City must always ensure that its total expenditures and reserves equal its total resources.

RESERVES

The accumulation of operating surpluses builds reserves, which provide a financial cushion against events such as the loss of a revenue source, an economic downturn, unanticipated expenditures required by natural disasters, insurance loss and the like; unexpected large-scale capital expenditures, or other nonrecurring expenses; or an uneven cash flow.

Reserves are budgeted in a contingency account at the City to ensure they are always fully discussed as part of the annual budget process.

Per City Budget Policy, the City’s objective is to establish the proper level for the fund balance in the General Fund, provide a budget target, maintain year-to-year consistency, avoid wide fluctuations in budget strategy and provide resources for maximum service levels, while keeping the City in a strong financial position.

The City’s budget policy allows for some flexibility in its fund balance target to allow for changing economic times. The goal, as outlined in the policy, is to maintain a fund balance in the General Fund of 10-20% of annual operating expenditures. The target during each budget process and at the end of each fiscal year is to keep the fund balance within those parameters. This amount covers approximately two months’ expenditures, plus the 3% emergency reserve required under Colorado’s TABOR Amendment.

LIQUIDITY

Liquidity refers to the flow of cash in and out of the treasury. The City receives some revenues such as property taxes, in large installments at infrequent intervals during the first half of the year. If revenues are received before they need to be spent, the result is a positive liquidity/cash flow position. Excess liquidity or "cash reserves" are a valuable cushion against unexpected financial pressures.

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Page 301 City of Golden

2009/2010 Biennial Budget

An analysis of operating position can help to identify the following situations:

A pattern of continuing operating deficits A decline in reserves Ineffective revenue forecasting techniques Ineffective budgetary controls

INDICATORS

Operating Revenues Over/(Under) Expenditures Fund Balances Liquidity Utility Operations Income and Losses Community Center Operations Income and Losses Cemetery Operations Income and Losses Splash Operations Income and Losses

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Page 302 City of Golden 2009/2010 Biennial Budget

Operating Revenues Over (Under) Expenditures

Warning Trend:Increasing General Fund Operating Deficits as a

percentage of Net Operating Revenues

Formula:General Fund Operating Surplus/Deficit

Net Operating Revenues

Fiscal year: 2003 2004 2005 2006 2007General Fund Operating (Deficit)/Surplus* 298,000 (146,000) 1,274,000 1,020,000 787,000Net Operating Revenues 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000General Fund Operating (Deficit)/Surplus as a percentage of Net Operating Revenues 1.5% -0.7% 5.5% 4.2% 3.1%* Not including encumbrances

Description:

Commentary:

Analysis:

Operating Surplus/Deficit

-10%-5%0%5%

10%

2003 2004 2005 2006 2007

Fiscal year

Per

cent

An operating deficit occurs when current expenditures exceed current revenues. This may not mean that the budget will be out ofbalance ("budget deficit"), because reserves ("fund balances") from prior years can be used to cover the difference. It does mean,however, that during the current year, the government is spending more than it is receiving. This may be caused by an emergency(such as a natural catastrophe) requiring a large immediate expenditure, or the spending pattern may be part of a policy to useaccumulated surplus fund balances. An operating deficit in any one year may not be cause for concern, but frequent and increasingdeficits can indicate that current revenues are not supporting current expenditures and that serious problems may lie ahead. Budgetaryanalysis does not always reveal operating deficits because they can be temporarily financed by short-term loans or by accountingtransactions that, for example, inappropriately accrue future revenues or transfer surplus fund balances from other funds. An analystlooking for operating deficits should consider each fund separately, so that a surplus in one fund cannot hide a deficit in another.Analyzing funds separately also helps to pinpoint emerging problems. Although such transactions can provide necessary opportunitiesto meet current needs and can serve as a positive source of financing, they should be scrutinized and used on a short term/temporarybasis only.

This indicator shows the difference between the revenues and expenditures of the General Fund. Unlike the Federal government,Colorado municipalities are prohibited by Local Budget Law from spending more money than they have. However, when a city spendsmore than it collects in a year, the deficit can be covered by cash reserves, transfers from other funds or from other sources. Anoperating deficit may occur as a result of lower revenues or higher costs than were budgeted. An operating deficit may also result whenCity Council intentionally spends accumulated surplus funds.

Frequent and increasing operating deficits may indicate that revenues are not supporting current expenditures. The followingoccurrences are warning trends:

* Two consecutive years of operating deficits;* A current operating fund deficit greater than that of the previous year;* An operating deficit in two or more of the last five years;* An abnormally large deficit -- more than 5 to 10 percent of net operating revenues in any one year.

The trend is generally positive, with no significant deficits.

The deficit created in 2004 was the direct result of planned spend downs by City Council, through transfers to other funds and forneeded additional staffing.

The surplus in 2005 is primarily due to the increase in audit revenue. The surpluses in 2006 and 2007 are a result of overall operations.

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Page 303 City of Golden

2009/2010 Biennial Budget

Fund Balances(General Fund)

Warning Trend:Declining unreserved Fund Balances as a

percentage of Net Operating Revenues

Formula:Unreserved Fund Balances

Net Operating Revenues

Fiscal year: 2003 2004 2005 2006 2007Unreserved Fund Balances 1,961,000 1,814,764 3,019,000 4,029,000 4,755,000Net Operating Revenues 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000Unreserved Fund Balances as a percentageof Net Operating Revenues 10.1% 8.8% 13.1% 16.8% 18.6%

Description:

Commentary:

Analysis:

Fund Balances

0%5%

10%15%20%

2003 2004 2005 2006 2007

Fiscal year

Perc

ent

Positive fund balances can also be thought of as reserves, although the "fund balance" entry on a local government's annual report isnot always synonymous with "available for appropriation." The report may show reservations on the fund balances, such as "Reservefor Prior Year's Encumbrances" or the TABOR required "Emergency Reserve".

The size of a local government's fund balances can affect its ability to withstand financial emergencies. It can also affect its ability toaccumulate funds for capital purchases without having to borrow. In states that allow it, jurisdictions usually try to operate each year ata small surplus to maintain positive fund balances and thus maintain adequate reserves.

Nonspecific or general reserves are usually carried on the books as an unreserved fund balance in the general operating fund.Sometimes special reserves are maintained in a separate fund. For example, reserves for replacing equipment such as computers orvehicles may be kept in the fund balance of an internal service fund (i.e., a fund used to charge operating departments for the use ofequipment). Reserves can also be appropriated as a budget item in some form of contingency account.

Regardless of the way in which reserves are recorded, an unplanned decline in fund balances may mean that the government will beunable to meet a future need.

The City's Budget Policy regarding Fund Balance is to maintain a level for the Fund Balance in the General Fund which provides abudget target, maintains year to year consistency, avoids wide fluctuations in budget strategy, and provides resources for maximumservice levels to keep the City in a strong financial position.

The decrease in 2004 was a budgeted use of reserves and approved by Council.

The increase in Unreserved Fund Balance in 2005 is the result of the accumulation of one-time revenues (i.e. audit revenue). Theincreases in 2006 and 2007 are a result of on-going operations.

The percentage of Unreserved Fund Balance remains at an appropriate level.

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Page 304 City of Golden 2009/2010 Biennial Budget

Liquidity

Warning Trend:Decreasing amount of Cash and Short-term

Investments as a percentage of Current Liabilities

Formula:Cash and Short-term Investments

Current Liabilities

Fiscal year: 2003 2004 2005 2006 2007Cash and Short-term Investments 2,988,000 2,952,000 4,752,000 4,963,000 5,988,000Current Liabilities * 1,648,000 1,725,000 2,392,000 1,747,000 1,811,000

Cash and short-term investments ratio to current liabilities 1.8 1.7 2.0 2.8 3.3

* Includes amounts in escrow for development fees.

Description:

Commentary:

Analysis:

Cash and Short-term Investments to Current Liabilities

0.01.02.03.04.0

2003 2004 2005 2006 2007Fiscal year

Rat

ioA good measure of a local government's short-run financial condition is its cash position. Cash position, which includes cash on hand andin the bank, as well as other assets that can be easily converted to cash, determines a government's ability to pay its short-termobligations. This is also known as liquidity, and the immediate effect of insufficient liquidity is insolvency--the inability to pay bills. Low ordeclining liquidity can indicate that a government has overextended itself in the long run. A cash shortage may be the first sign.

Commercial entities use a standard ratio of liquidity called the "quick ratio"; cash, short-term investments and accounts receivable dividedby current liabilities (short-term debt, current portion of long-term debt, accounts payable, accrued and other current liabilities). If this ratiois less than one to one (or less than 100%), the commercial entity is considered to be facing liquidity problems. However, most of acommercial entity's accounts receivable are collected within thirty days; a municipality's receivables are usually not collected that quickly.Accordingly, the ratio of cash and short-term investments to current liabilities is a better measure of a municipality's liquidity.

Comparing cash and short-term investments to current liabilities is also referred to as current account analysis . In this terminology, anexcess of liabilities over cash and short-term investments (a ratio of less than one to one) would be referred to as a current account deficitand the reverse (a ratio of greater than one to one) would be a current account surplus .

Liquidity is an indicator of the City's ability to pay its short-term obligations. Liquidity is the ratio of cash and short-term investments tocurrent liabilities. A low ratio may result in cash-flow problems for the City and require greater use of short-term borrowing to coverexpenses. The credit rating industry considers a liquidity ratio of less than 1:1 cash to current liabilities to be a negative factor,although a single year at this level is not considered serious.

Decreasing liquidity is a warning trend.

The trend is positive as the ratio remains greater than 1:1 and is increasing the last few years.

For 2005, Current Liabilities include accruals for economic incentive payments which are more than covered by the revenues generated.Those accruals were paid in 2006.

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Page 305 City of Golden

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Utility Operations Income and Losses

Warning Trend:Recurring enterprise losses (deficits)

(constant dollars)

Formula:Enterprise profits or losses in constant dollars

Fiscal year: 2003 2004 2005 2006 2007Water Fund Operating Results (Net Profit or Loss) 311,000 175,000 (382,000) 771,000 644,000Wastewater Fund Operating Results (Net Profit or Loss) 78,000 147,000 1,000 (298,000) (284,000)Drainage Fund Operating Results (Net Profit or Loss) 416,000 150,000 256,000 292,000 344,000

Description:

Commentary:

Analysis:

Enterprise losses are a special and highly visible type of operating deficit because enterprise fund programs are expected to function as if they werecommerciallyoperated private entities, rather than governmental"not for profit" entities. This means that the costs (expenses, including depreciation)of providing goods and services to the public are to be recovered through user charges. In addition, enterprise operations usually need to issuerevenue bonds to finance capital improvement projects, and the interest rates and covenants associated with the issuance of such bonds can besignificantly affected by the operating position of the enterprise.

Enterprise fund programs common to local governmentare water, gas, electric utilities, swimming pools, airports, parking garages and transit systems.In times of financial strain, a local government can raise taxes to increase support for a general fund program. However, enterprises are typicallysubject to the laws of supply and demand. Managers of such programs who raise user fees or rates may find that revenues actually decrease becacustomers limit their use of the service.

Operating Results includes GAAP basis operating revenues plus investment income less operating expenses and interest expense.

The City operates three utility enterprises that provide water and wastewaterservices as well as a storm drainage utility. Like private businesses,these entities charge customers for services to cover costs of operations. Net income or loss is the difference between the revenuesand costs ofproviding these services. Income is used to retire debt, capital construction, and to maintain an adequate level of working capital.

Recurrent enterprise losses represent a warning trend.

Over the five year period the Drainage Fund has shown a net profit each year.

The operating losses for the Wastewater Fund in 2006 and 2007 are due to slight reductions in revenuesand an increase in treatment costs. TheFund has sufficient reserves, and has provided a credit to customers for several years, that the operating loss is not considered to be significant.However, a review of the credit and the rates is warranted.

Water rates increased 7.75% in 2003 and 2004, 7.5% in 2005, and 7% in 2006 and 2007 to get the fund back to a postive operating income.

In 2005, the City sold a large portion of the Beaver Brook property, paying a commission to the sales broker. While the proceeds from the sale isconsidered non-operating income, the commission is considered an operating expense.

Utility Operations Income and Loss

(1,500,000)

(1,000,000)

(500,000)

0

500,000

1,000,000

2003 2004 2005 2006 2007

Water Fund Operating Results (Net Profit or Loss)

Wastewater Fund Operating Results (Net Profit or Loss)

Drainage Fund Operating Results (Net Profit or Loss)

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Page 306 City of Golden 2009/2010 Biennial Budget

Community Center Operations - Income and

Losses

Warning Trend:Recurring enterprise losses (deficits)

Formula:Enterprise profits or losses

Fiscal year: 2003 2004 2005 2006 2007Community Center Operating Results (Net Profit or Loss) (297,000) (441,000) (241,000) (525,000) (398,000) excluding depreciation Net profit or loss* (459,000) (604,000) (403,000) (688,000) (625,000)*Net profit or loss is after depreciation expense and before transfers

Description:

Commentary:

Analysis:

Community Center Operations Net Profit or Loss

-800,000

-600,000

-400,000

-200,000

0

200,000

400,000

2003 2004 2005 2006 2007Fiscal year

Dol

lars

Enterprise losses are a special and highly visible type of operating deficit because enterprise fund programs are expectedto function as if they were commercially operated private entities, rather than governmental "not for profit" entities. Thismeans that the costs (expenses, including depreciation) of providing goods and services to the public are to be recoveredthrough user charges. In addition, enterprise operations usually need to issue revenue bonds to finance capitalimprovement projects, and the interest rates and covenants associated with the issuance of such bonds can besignificantly affected by the operating position of the enterprise.

Enterprise fund programs common to local government are those for water, gas, electric utilities, swimming pools,airports, parking garages and transit systems. In times of financial strain, a local government can raise taxes to increasesupport for a general fund program. Enterprises, however, are typically subject to the laws of supply and demand, andmanagers of such programs who raise user fees or rates may find that revenues actually decrease because customerslimit their use of the service.

Operating Results includes investment income.

The City operates a community recreation center as a managerial enterprise fund. Like private businesses, this entitycharges customers for services to cover costs of operations. Net income or loss is the difference between the revenuesand costs of providing these services. Depreciation is included as an expense in the calculation of profit/loss. Recurrententerprise losses represent a warning trend.

The Golden Community Center is subsidized by an annual transfer from the General Fund. The City Council hasadopted policies regarding subsidies and percentages of cost recovery for various programs and overall operations.

New facilities in neighboring communities have adversely affected attendance. The declining revenues are closelymonitored by the staff and City Council.

For 2005, the Community Center staff made efforts to cuts costs and less popular programs, and added differentprograms and increased marketing efforts to reintroduce the facility to the community, generate interest and increaseattendance.

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Cemetery Operations - Income and Losses

Warning Trend:Recurring enterprise losses (deficits)

Formula:Enterprise profits or losses

Fiscal year: 2003 2004 2005 2006 2007Cemetery Operating Results (Net Profit or Loss) (40,000) (7,000) (6,000) (72,000) (26,000) excluding depreciation Net profit or loss* (67,000) (35,000) (35,000) (101,000) (57,000)*Net profit or loss is after depreciation expense and before transfers

Description:

Commentary:

Analysis:

Cemetery Operations Net Profit Or Loss

-200,000

-100,000

0

100,000

200,000

2003 2004 2005 2006 2007Fiscal year

Dol

lars

Enterprise losses are a special and highly visible type of operating deficit because enterprise fund programs areexpected to function as if they were commercially operated private entities, rather than governmental "not for profit"entities. This means that the costs (expenses, including depreciation) of providing goods and services to the publicare to be recovered through user charges. In addition, enterprise operations usually need to issue revenue bonds tofinance capital improvement projects and the interest rates and covenants associated with the issuance of suchbonds can be significantly affected by the operating position of the enterprise.

Enterprise fund programs common to local government are those for water, gas, electric utilities, swimming pools,airports, parking garages and transit systems. In times of financial strain, a local government can raise taxes toincrease support for a general fund program. However, enterprises are typically subject to the laws of supply anddemand, and managers of such programs who raise user fees or rates may find that revenues actually decreasebecause customers limit their use of the service.

The City operates a community cemetery. Like private businesses, this entity charges customers for services tocover costs of operations. Net income or loss is the difference between the revenues and costs of providing theseservices. Depreciation is included as an expense in the calculation of profit/loss.

Recurrent enterprise losses represent a warning trend.

The Cemetery was set up as a Managerial Enterprise Fund in 1994 to better track revenues and expenses, with theanticipation that the Cemetery would not cover its costs. The Fund is subsidized as necessary with appropriationsfrom the General Fund and investment earnings from the Cemetery Perpetual Care Fund.

Expenses at the Cemetery have remained fairly consistent over the past few years, except for 2006 when operating

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Page 308 City of Golden 2009/2010 Biennial Budget

Splash Operations - Income and Losses

Warning Trend:Recurring enterprise losses (deficits)

Formula:Enterprise profits or losses

Fiscal year: 2003 2004 2005 2006 2007Splash Operating Results (Net Profit or Loss) (7,000) (81,000) (41,000) (40,000) 59,000 excluding depreciation Net profit or loss* (131,000) (205,000) (166,000) (164,000) (69,000)*Net profit or loss is after depreciation expense and before transfers

Description:

Commentary:

Analysis:

Splash Operations Net Profit Or Loss

-250,000-200,000-150,000-100,000-50,000

050,000

2003 2004 2005 2006 2007Fiscal year

Dol

lars

Enterprise losses are a special and highly visible type of operating deficit because enterprise fund programs areexpected to function as if they were commercially operated private entities, rather than governmental "not for profit"entities. This means that the costs (expenses, including depreciation) of providing goods and services to the publicare to be recovered through user charges. In addition, enterprise operations usually need to issue revenue bonds tofinance capital improvement projects and the interest rates and covenants associated with the issuance of suchbonds can be significantly affected by the operating position of the enterprise.

Enterprise fund programs common to local government are those for water, gas, electric utilities, swimming pools,airports, parking garages and transit systems. In times of financial strain, a local government can raise taxes toincrease support for a general fund program. However, enterprises are typically subject to the laws of supply anddemand, and managers of such programs who raise user fees or rates may find that revenues actually decreasebecause customers limit their use of the service.

The City operates a community outdoor aqautic park. Like private businesses, this entity charges customers forservices to cover costs of operations. Net income or loss is the difference between the revenues and costs ofproviding these services. Depreciation is included as an expense in the calculation of profit/loss.

Recurrent enterprise losses represent a warning trend.

The Splash Aqautic Park opened in 2002. The combination of a new facility and favorable temperatures resulted in anet profit before depreciation. Since then, fluctuations in temperatures and the opening of competing facilities in theMetro area have impacted financial performance. The fund receives subsidies from the General Fund as necessary.

Beginning in 2005, improved marketing efforts have boosted revenues, and greater diligence has been exercised in

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TREND EVALUATION: DEBT INDICATORS SUMMARY

Debt is an effective way to finance capital improvements and to balance out short-term revenue flows, but its misuse can cause serious financial problems. Even a temporary inability to repay debt can damage the City's credit rating, possibly increasing its rate for future borrowing.

The most common forms of long-term debt are general obligation, special assessment and revenue bonds. Even when these types of debt are used exclusively for capital projects, the City needs to ensure that its outstanding debt does not exceed its ability to repay as measured by the wealth of the community. Another way to evaluate ability to repay is to consider the amount of principal and interest, or debt service, that the City is obligated to repay each year. Also to be considered are overlapping debt and other jurisdiction debts against which the City has pledged its full faith and credit. Under the most favorable circumstances, the City's debt is proportional in size and rate of growth to its tax base, does not extend past the useful life of the facilities that it finances, is not used to balance the operating budget, does not require repayment schedules that put excessive burdens on operating expenditures; and is not too high as to jeopardize its credit rating.

An examination of the City's debt structure can reveal the following:

Inadequacies in cash management procedures or expenditure controls Increasing reliance on long-term debt Decreasing expenditure flexibility (due to increased fixed costs in the form of debt service) Use of short-term debt to finance current operations Existence of sudden large increases or decreases in future debt service Amount of additional debt that the community can absorb

INDICATORS

Current Liabilities Combined Long-Term (Overlapping) Debt Debt Service

.

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Page 310 City of Golden 2009/2010 Biennial Budget

Current Liabilities

Warning Trend:Increasing Current Liabilities at the end of the

year as a percentage of Net Operating Revenues

Formula:Current Liabilities

Net Operating Revenues

Fiscal year: 2003 2004 2005 2006 2007Current Liabilities * 1,648,000 1,725,000 2,392,000 1,747,000 1,811,000Net Operating Revenues 19,323,000 20,568,000 23,072,000 24,036,000 25,509,000Current Liabilities as a percentage of Net Operating Revenues 8.5% 8.4% 10.4% 7.3% 7.1%* Includes amounts in escrow for development fees.

Description:

Commentary:

Analysis:

Current Liabilities

0%

5%

10%

15%

2003 2004 2005 2006 2007

Fiscal year

Per

cent

Current liabilities are defined as the sum of all liabilities due at the end of the fiscal year, including short-term debt, current portion of longterm debt, all accounts payable, accrued liabilities and other current liabilities.

A major component of current liabilities may be short-term debt in the form of tax or bond anticipation notes. Although short-termborrowing is an accepted way to deal with uneven cash flow, an increasing amount of short-term debt outstanding at the end ofsuccessive years can indicate liquidity problems, deficit spending or both. Current Liabilities do not include interfund loans to andbetween other funds.

Current liabilities are those amounts which the General Fund owes and expects to pay within one year. This indicator shows Citypayments due at year end as a percentage of operating revenues. These liabilities are comprised of accounts payable, payroll taxes,employee benefits payable and obligations to perform a service in the near future.

Increasing current liabilities may indicate cash shortages and, therefore, is a warning trend.

Current Liabilities include economic incentives accrued at year end associated with the Golden Town Center, Interplaza and the CoorsTechnology Center. Incentives are payable only after the tax is received. Per the City Attorney, all incentive payments for 2005 wereaccrued, pending the results of a lawsuit, resulting in the large increase in current liabilities for the year. Revenues more than cover theincentive payments. The City received a favorable verdict from the District Court and the accruals were paid in 2006. The incentiveagreements with Interplaza and the Coors Technology Center have since been completed.

The trend is favorable over the five-year period, as the percentage has decreased during that time.

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2009/2010 Biennial Budget

Combined Long-term (Overlapping) Debt

Warning Trend:Increasing Long-term Overlapping Bonded Debt

as a percentage of Assessed Valuation

Formula:Long-term Direct and Overlapping G.O. Debt

Assessed Valuation

Fiscal year: 2003 2004 2005 2006 2007Long-term Direct and Overlapping G.O. Debt 26,092,000 34,698,000 34,515,000 35,796,000 33,574,000Assessed Valuation 308,494,000 311,264,000 331,006,000 331,755,000 367,642,000Long-term Overlapping Debt as a percentage of Assessed Valuation 8.5% 11.1% 10.4% 10.8% 9.1%

Description:

Commentary:

Analysis:

Overlapping Debt as a Percentage of Assessed Valuation

0%2%4%6%8%

10%12%

2003 2004 2005 2006 2007

Fiscal year

Per

cent

Overlapping debt is the net direct bonded debt of another jurisdiction that is issued against a tax base within part or all of the boundariesof the community. Examples of other jurisdictions are school, street lighting and sewer districts. The level of overlapping debt is only thatdebt applicable to the property shared by the two jurisdictions.

The overlapping debt indicator measures the ability of the community's tax base to repay the debt obligations issued by all of itsgovernmental and quasi-governmental jurisdictions. Like long-term debt of the government itself, overlapping debt can be measured interms of assessed valuation or another tax base or repayment source.

Both special-purpose and overlapping debt need to be considered in assessing total indebtedness. First, although the probability thatyour community would have to repay the debt may be slim, the potential is real. Second, during depressed economic times, yourgovernment may be affected by the same adverse conditions that might cause an overlapping agency to default, which would render theburden of assuming additional debt even more severe.

Combined long-term debt represents the portion of debt which is dependent on property taxes for payment. It is a measure of thecommunity's ability to pay the combination of the City's long-term debt with the bonded debt of jurisdictions overlapping the City.

The warning signals are as follows:

*Combined debt exceeding 10 percent of assessed valuation; *An increase of 20 percent over the previous year in combined debt as a percentage of market valuation; *Combined debt as a percentage of market valuation increasing 50 percent over four years; *Combined debt exceeding 90 percent of the amount authorized by state law.

In 2004, additional bonds were issued by Jefferson County School District. In 2006, the school district and Fairmount Fire ProtectionDistrict both issued additional debt.

The percentage is reduced in other years as a result of lower outstanding debt combined with higher assessed valuations.

The City's G.O. debt is minimal ($870,000) and is repaid through the Water Fund.

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Page 312 City of Golden 2009/2010 Biennial Budget

Debt Service

Warning Trend:Increasing Net Direct Debt Service as a

Percentage of Sales/Use Tax One Cent Capital Revenue

Formula:Net Direct Debt Service

Sales/Use Tax One Cent Capital Revenue

Fiscal year: 2003 2004 2005 2006 2007Net Direct Debt Service 1,970,000 2,307,000 2,410,000 2,888,000 3,501,000Sales/Use Tax One Cent Capital Revenue 4,002,000 4,209,000 4,778,000 4,758,000 5,139,000Net Direct Debt Service as a percentage of Pledged Revenue 49.2% 54.8% 50.4% 60.7% 68.1%

Description:

Commentary:

Analysis:

Debt Service

0%

25%

50%

75%

2003 2004 2005 2006 2007

Fiscal year

Per

cent

Debt service is defined here as the amount of principal and interest that a local government must pay each year on net direct bondedlong-term debt plus the interest it must pay on direct short-term debt. Increasing debt service reduces expenditure flexibility by adding tothe government's obligations. Debt service can be a major part of a government's fixed costs, and its increase may indicate excessivedebt and fiscal strain.

Debt service represents the annual payment of principal and interest on long-term debt. The only non-enterprise debt which the City hasare sales and use tax revenue bonds. In November 2000, voters approved Sales and Use Tax Revenue Bonds Series A,B,C to fundconstruction of the Golf Course and Splash Aquatic Park at Fossil Trace. $29 million in new debt was issued in 2001. Sales and UseTax Revenue Bonds pledge one cent of the City's three cent sales tax. In February 2006, Certificates of Participation (COP's) wereissued to finance the construction of the new Shops Facility and to assist in the construction of the new Fire Station #1. The City hasbudgeted Sales and Use Tax Capital Fund revenues to cover the debt service payments.

This indicator measures debt service on the bonds to the sales & use tax revenue stream which supports it.

The increase in 2004 is from scheduled increased principal payments on the new 2001 Sales and Use Tax Revenue Bonds. Theincrease in 2006 is from the first debt service interest payment on the Certificates of Participation. The increase for 2007 includes thefirst principal payment on the COP's

Sales/use tax revenue decreased in 2003 as a result of the declining general economy.

As the Sales and Use Tax Capital Fund is specifically for capital needs of the City and is strictly discretionary funds, the use of debt tofinance capital needs is certainly acceptable. The fund still has sufficient available resources to address other capital needs of the City.

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2009/2010 Biennial Budget

TREND EVALUATION: UNFUNDED LIABILITIES

SUMMARY

An unfunded liability is one that has been incurred during past/current year(s), but does not have to be paid until a future year and for which reserves have not been set aside. It is similar to long-term debt in that it represents a legal commitment to pay at some time in the future. If such obligations are permitted to grow over a long period of time they can have a substantial effect on the City’s financial condition.

Two types of unfunded liability have been considered in this report. They are pension liability and employee leave (compensated absences) liability. Both have significant potential to affect the City’s financial condition because (1) they do not show up in the primary financial statements in a way that makes their impact easy to assess and (2) they accumulate gradually over time. Pension and employee leave liabilities may go unnoticed until they have created severe problems.

An analysis of the City’s unfunded liabilities can answer the following questions:

Is the pension increasing? How fast is it growing? How much is unfunded?

Are pension contributions, pension system assets and investment earnings keeping pace with the growth in benefits?

Is the amount of unused vacation, sick and compensatory leave time per employee increasing?

Are policies for the payment of unused leave realistic compared to the City’s ability to pay?

INDICATORS

Unfunded Pension Liability and Pension Assets (Volunteer Firefighters’ Pension) Accumulated Employee Leave Pension Plan Assets (Volunteer Firefighters’ Pension)

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Page 314 City of Golden 2009/2010 Biennial Budget

Unfunded Pension Liability And Pension Assets (Volunteer Firefighters' Pension)

Warning Trend:Increasing unfunded pension liability as a

percentage of assessed valuation

Formula:Unfunded pension liability

Assessed Valuation

Fiscal year: 2003 2004 2005 2006 2007Unfunded pension plan liability (vested benefits) na* 1,416,000 na* 1,056,000 na*Assessed Valuation 308,494,000 311,264,000 331,006,000 331,755,000 367,642,000

Unfunded pension plan liability (vested benefits) as a percentage of Assessed Valuation na* 0.45% na* 0.32% na**The actuarial study is performed every 2 years.

Description:

Commentary:

Analysis:

Unfunded Pension Liability and Pension Assets (Volunteer Firefighters' Pension)

-0.50%-0.25%0.00%0.25%0.50%

2003 2004 2005 2006 2007

Fiscal year

Per

cent

Pension plans can represent a significant expenditure obligation for local governments. Basically, there are two ways to fund pensionplans: "pay as you go," when benefits need to be paid, or "full funding" in which benefits are paid as accrued; money is invested in areserve against the time when benefits will have to be paid. Under the pressure of balancing the annual budget, some governmentschoose the pay-as-you-go approach or a partial funding approach. Either approach can work on a short-term basis, however, deferralcan create a problem in a future year that is more serious than the problem being avoided in the current year--if the dollars are notavailable in the future year to meet the pension obligations.

Growth in unfunded liability for vested benefits places an increasing burden on the tax base. The significance of this burden in relation tothe community's ability to pay can be measured by comparing the unfunded liability to changes in assessed valuation. This comparisonassumes that the ability to pay is directly related to assessed valuation, as would be the case if property taxes were the primary source ofrevenue for the payment of vested benefits.

If another revenue source will be the primary source for the payment of pension liabilities, that source can be substituted for assessedvaluation. In cases where assessed valuation or other categories of the revenue base do not seem appropriate, the per capita measurecan be used to show the growth of pension liability in relation to population growth; this measure assumes that the community's ability togenerate revenues is directly related to population size.

The unfunded pension liability is an estimate of the cost of the future retirement payments of present and retired volunteer firefighters forwhich the City does not have funds already set aside. Pension assets are funds reserved for retirement payments.

Inadequate funding of retirement programs can cause large, long-term liabilities. An increasing unfunded pension liability or diminishingpension assets are both warning indicators.

The January 1, 2005 actuarial study indicates that the Unfunded Pension Liability has increased as a result of an increase in the monthlybenefit that Council approved in 2004 and the increase in the total number of department members included in the valuation. The studyalso states that the current annual contribution is sufficient to eliminate the unfunded actuarial accrued liabilities within 15 years.

The January 1, 2007 actuarial study indicates that the Unfunded Pension Liability has decreased as a result of an increase in the annualcontributions made by the City. The study also states that the current annual contribution is sufficient to eliminate the unfunded actuarialaccrued liabilities within 11 years.

The Unfunded Pension Liability is anticipated to increase with the next actuarial study as the City will see a significant increase in the

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2009/2010 Biennial Budget

Accumulated Employee Leave

Warning Trend:Increasing number of unused vacation and

sick leave days per employee

Formula:Total days of unused vacation and sick leave

Number of employees

Fiscal year: 2003 2004 2005 2006 2007Total days of unused vacation and sick leave 2,152 3,140 3,093 3,195 2,860Number of general fund employees* 125 135 137 137 140

Days of unused leave per general fund municipal employee 17.2 23.3 22.6 23.3 20.4* Budgeted full-time employees

Description:

Commentary:

Analysis:

Unused Leave per General Fund Employee

05

10152025

2003 2004 2005 2006 2007Fiscal year

Num

ber o

f D

ays

Local governments usually allow their employees to accumulate some portion of unused vacation and sick leave to be paid attermination or retirement. Although leave benefits initially represent only the opportunity cost of not having work performed, thesebenefits become a real cost when employees are actually paid for their accumulated leave, either during their employment or attermination or retirement.

Accumulated employee leave is the value of unused vacation, sick and compensatory time leave accrued by General Fund Cityemployees. For employees who retire or leave the employment of the City, the unused leave represents an actual cost. Foremployees who remain on the payroll and use their leave, it poses no additional costs to the City, except in loss of services whilethey are absent.

Increasing accumulated leave indicates growing unfunded liabilities and is considered a warning trend.

Leave time was relatively stable through 2003 as employee turnover has blended with existing employees increasing length ofservice. In 2004, unused sick leave more than doubled. Leave time has stayed relatively stable again the last three years. Thedecrease in 2007 is due to several long-term employees separating employment with the City.

Vacation time accrues anywhere from 8 to 14 hours per month depending on years of service. Sick leave accrues at 8 hours permonth.

The City has caps at which point vacation and sick time stop accumulating. This limits the liability the City incurs and provides anincentive for employees to use leave time as needed.

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Page 316 City of Golden 2009/2010 Biennial Budget

Pension Plan Assets (Volunteer Firefighters' Pension)

Warning Trend:Increasing benefits paid

as a percentage of Pension Plan Assets

Formula:Pension benefits paidPension Plan Assets

Pension plan contributionsPension benefits paid

Fiscal year: 2003 2004 2005 2006 2007Pension benefits paid 288,000 287,000 294,000 323,000 341,000Volunteer's firefighters' pension assets 2,629,000 2,823,000 2,980,000 3,258,000 3,384,000Annual pension plan benefits paid as a percentage of plan assets 11.0% 10.2% 9.9% 9.9% 10.1%Pension plan contributions 178,000 178,000 188,000 199,000 199,000Pension benefits paid 288,000 287,000 294,000 323,000 341,000Annual pension plan receipts as a percentage of annual benefits 61.8% 62.0% 63.9% 61.6% 58.4%

Description:

Commentary:

Analysis:

Volunteer Firefighters' Pension Benefits Paid as a Percentage of Plan Assets

0%

10%

20%

2003 2004 2005 2006 2007Fiscal year

Per

cent

The Volunteer Firefighters' Pension Plan's assets are held primarily as cash or investments. A decline in the ratio of plan assets tobenefits can indicate serious problems in the management of the pension plan. An additional ratio to consider is the annual amount ofpension receipts as a percentage of annual benefits paid, which focuses more specifically on a pension plan's ability to meet its currentcash requirements.

Pension assets are funds reserved for retirement payments. Inadequate funding of retirement programs can cause large, long-termliabilities. An increasing unfunded pension liability or diminishing pension assets are both warning indicators. The Plan receivescontributions from the City in an amount not to exceed one-half mill of property tax revenue. The State contributes up to 90% of theCity's Contribution, but not to exceed one-half mill of property tax revenues.

The City's Volunteer Fire Fighters' Pension Fund is administered by the Fire and Police Pension Association (FPPA) and is overseenby the City of Golden Fire Pension Board. The Board is comprised of representatives from City Administration, City Council, the FireDepartment and Citizen Representatives.

Benefits paid have been increasing over the last several years as a result of an increase in the monthly benefit amount and thenumber of firefighters receiving benefits.

The City's contribution amount was increased in 2005 and 2006. The State matching contribution has stayed constant at $77,940annually. The actuarial studies dated January 1, 2005 and 2007 have determined that current contribution amounts are sufficient topay expected benefits.

Plan Assets have increased each year since 2003 as a result of contributions and investment earnings.

Annual Pension Plan Receipts as a Percentage of Annual Benefits

55%

60%

65%

2003 2004 2005 2006 2007

Perc

ent

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TREND EVALUATION: CAPITAL PLANT

SUMMARY

Most of the City's wealth is invested in its physical assets or capital plant (i.e. streets, buildings, utility networks and equipment). If these assets are not properly maintained or are allowed to become obsolete, the following often results: (1) decreased usefulness of the assets, (2) increased cost of maintenance and replacement, and (3) decreased attractiveness of the community as a place to live or do business.

The City is committed to both the maintenance and upkeep of its capital assets. Over the past five years, the City has made extreme efforts to avoid the deferral of needed capital plant expenditures. As part of its budget process, the City has committed more than $500,000 of capital program budget dollars to both maintaining curbs, gutters and sidewalks, and to reduce catch-up from improvements deferred in prior periods. Some of the problems associated with continued deferred maintenance are the following:

Reduction in residential and business property values.

Loss of efficiency that, for example, can result from an obsolete truck that spends more time in the garage than on the street.

Increased costs of bringing a facility up to acceptable standards (retrofitting); i.e., if resurfacing a street has been delayed for too long so that the street now has to be completely reconstructed.

Potential for a large future financial obligation to complete a backlog of maintenance work and necessary equipment purchase replacement.

Transference of the true cost of receiving current services to future taxpayers.

INDICATORS

Capital Equipment Outlay Depreciation – General Government and Business Type Activities Infrastructure Replacement

.

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Page 318 City of Golden 2009/2010 Biennial Budget

Capital Equipment Outlay

Warning Trend:Three or more years decline in capital outlay from operating and internal service funds as a percentage of net operatingexpenditures.

Formula:Capital outlay from operating and internal service funds

Net Operating Expenditures

Fiscal year: 2003 2004 2005 2006 2007Total Capital Equipment Outlay 865,770 1,032,000 2,111,000 873,765 1,274,000Net Operating Expenditures 15,371,000 16,966,000 17,639,000 17,623,000 17,997,000Capital Outlay as a percentage of OperatingExpenditures 5.6% 6.1% 12.0% 5.0% 7.1%

Description:

Commentary:

Analysis:

Capital Equipment Outlay

0%5%

10%15%20%25%

2003 2004 2005 2006 2007Fiscal year

Perc

ent

Expenditures for operating equipment--such as vehicles and computers--drawn from the operating budget are usually referred to as"capital outlay." Capital outlay items normally include equipment that will last longer than one year and have an initial cost above asignificant minimum amount, such as $5000. Capital outlay does not include capital budget expenditures for construction ofinfrastructure such as streets, buildings or bridges. The purpose of capital outlay in the operating budget is to replace wornequipment or add new equipment. The ratio of capital outlay to net operating expenditures is a rough indicator of whether the stockof equipment is being adequately replaced. Over a number of years, the relationship between capital outlay and operatingexpenditures is likely to remain about the same. If this ratio declines in the short run (one to three years), it may mean that the localgovernment's needs are temporarily satisfied, since most equipment lasts more than one year. A decline persisting over three ormore years can indicate that capital outlay needs are being deferred, which can result in the use of inefficient or obsolete equipment.

This category does not measure any expenditures for major capital programs funded by the one cent sales and use tax or in theenterprise capital programs funds such as drainage, water, and wastewater.

The warning trend is declining capital expenditures, which may indicate the use of inefficient or obsolete equipment.

With the City's capital expenditure threshold at $5,000, a large portion of office and computer equipment is not considered capital.A percentage of capital outlay between 5 - 7% apprears to be appropriate.

The reduction in capital outlay in 2003 reflects more moderate spending based on standard replacement schedules in Fleet,Information Technology and Administration. 2003 also reflects some budget reductions as a result of the tightening economy. Theincrease in 2005 is the result of several large vehicle replacement purchases, including a fire engine. The increase in 2007 isrelated to the purchase of equipment for the new shops facility.

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Depreciation - Governmental and Business Type Activities

Warning Trend: Formula:Decreasing Depreciation Expense as a Depreciation Expense

percentage of Depreciable Capital Assets (at cost) for Cost of Capital Assets Governmental and Business Type Activities

Fiscal year: 2003 2004 2005 2006 2007Depreciation Expense for Governmental Activities 2,345,000 2,371,000 2,300,000 2,380,000 2,623,000Cost of Depreciable Capital Assets Governmental Activities 66,312,000 67,009,000 68,812,000 70,359,000 85,273,000

Depreciation Expense as a Percentage of total Fixed Assets 3.5% 3.5% 3.3% 3.4% 3.1%Depreciation Expense for Business Type Activities 1,712,000 2,517,000 2,424,000 2,479,000 2,657,000Cost of Depreciable Capital Assets Business Type Activities 77,836,000 79,821,000 85,161,000 88,913,000 104,906,000

Depreciation Expense as a percentage of total Fixed Assets 2.2% 3.2% 2.8% 2.8% 2.5%

Description:

Commentary:

Analysis:

Depreciation is the mechanism by which the cost of a fixed asset is amortized over its estimated useful life. Depreciation is usually recorded only inenterprise and internal service funds. Total depreciation cost is generally a stable proportion of the cost of fixed assets, because older assets that havebeen fully depreciated are often removed from service and replaced by newer assets.

If depreciation costs are declining as a proportion of fixed asset costs, the assets on hand are probably being used beyond their estimated useful life. Thiscan result in the inefficiencies and higher costs discussed under Capital Equipment Outlay and Infrastructure Replacement If the ratio is declining becauseobsolete assets are not being replaced, it can indicate that the enterprise or internal service funds lack the resources to remain solvent. However, it couldbe that the estimated useful life of an asset or assets was initially underestimated or that the scale of operations has been reduced; either instance couldalso produce a decline in the ratio of expenses to cost of assets.

This indicator provides information about assets in the water, wastewater, fleet management and computer operations. Depreciation allocates the cost of afixed asset over its useful life. Total depreciation cost is generally a stable proportion of the cost of fixed assets, because older assets that have been fullydepreciated are removed from service and replaced with newer assets.

The City has an ongoing commitment to purchase and replace machinery and equipment as needed.

The capitalization threshold is currently $5,000.

Large investments in capital assets in a given year can cause the percentage to decline. In 2005, in order to be more fiscally responsible, the estimateduseful lives of certain vehicles was extended, causing a decrease in the annual depreciation amount and percentage. In 2007, assets increasedsignificantly with the completion of the new shops facility. Overall, the percentages over the five year period have remained fairly stable.

Governmental Activities

0%

1%

2%

3%

4%

5%

2003 2004 2005 2006 2007

Fiscal year

Per

cent

age

Business Type Activities

0%

1%

2%

3%

4%

5%

2003 2004 2005 2006 2007Fiscal year

Per

cent

age

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Page 320 City of Golden 2009/2010 Biennial Budget

Infrastructure Replacement

Warning Trend:Recurring capital funded less than capital required

Formula:

Capital funded Capital required

Fiscal year: 2003 2004 2005 2006 2007Street paving funded 510,000 541,000 465,000 494,000 837,000Funding needed to keep streets in current condition 550,000 551,000 551,000 551,000 589,000Paving funded as a percentage of capital required 92.7% 98.2% 84.4% 89.7% 142.1%Concrete replacement funded 540,000 571,000 535,000 549,000 564,000Funding needed to keep concrete in current condition 550,000 550,000 550,000 550,000 550,000Concrete replacement funded as a percentage of capital required 98.2% 103.8% 97.3% 99.8% 102.5%Utility line replacement funded 686,000 924,000 774,000 562,785 1,466,000Funding needed to keep utility lines in current condition 830,000 845,000 1,000,000 1,016,000 1,057,000Utility line replacement funded as a percentage of capital required 82.7% 109.3% 77.4% 55.4% 138.7%

Street Paving

0

200,000

400,000

600,000

800,000

1,000,000

2003 2004 2005 2006 2007Fiscal year

Dol

lars

Street paving fundedFunding needed to keep streets in current condition

Concrete Replacement

0

200,000

400,000

600,000

800,000

2003 2004 2005 2006 2007Fiscal year

Dol

lars

Concrete replacement fundedFunding needed to keep concrete in current condition

Utility Line Replacement

0

500,000

1,000,000

1,500,000

2003 2004 2005 2006 2007

Fiscal year

Dol

lars

Utility line replacement fundedFunding needed to keep utility lines in current condition

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Infrastructure Replacement - continued

Description:

Commentary:

Analysis:

Enduring assets, such as streets, municipal buildings and bridges, are built at tremendous cost, and their decline can have far-reaching effectson business activity, property value and operating expenditures. Deferring maintenance of such assets can also create significant unfundedliability.

In general, maintenance expenditures should remain relatively stable (in constant dollars), relative to the amount and nature of the assets. Adeclining ratio between maintenance expenditures and size of asset stock may be a sign that the government's assets are deteriorating. If thetrend persists, deterioration will push up maintenance expenditures

Infrastructure includes streets, fire hydrants, storm sewers, manholes, traffic lights, curb, gutter and sidewalk (concrete), water and wastewaterpipelines (utility lines), etc. The City of Golden's Public Works Department (PW) has an excellent infrastructure management program. PublicWorks assesses the condition of the City's largest infrastructure investments (streets, concrete and utility lines) on an annual basis. Byprojecting the total life of these assets with their replacement cost in today's dollars, the City derives the annual dollar amount needed to invest inthe City's infrastructure to maintain its current condition.

Any year in which actual funding of infrastructure replacement was less than the funding needed produces a negative indicator.

The average funding for Infrastructure Replacement has been around 95%. Street paving is funded through Highway Users Tax revenues andsupplemented by General Fund Transfers as funds are available. Concrete replacement is funded through the Sales & Use Tax Capital Fundand balanced against other capital requirements. Utility lines are funded through the Water, Wastewater, and Storm Drainage Funds.

Annual replacement percentages can vary based on the availability of contractors and materials, and is weather dependent. Unspent budgetsare carried over to the following year to help ensure the infrastructure replacement program continues to be adequately funded.

The City is committed to maintaining its infrastructure and replacing old, worn out, and outdated plant and equipment as needed.

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Page 322 City of Golden 2009/2010 Biennial Budget

FTMS2007 doc

TREND EVALUATION: LOCAL ECONOMIC AND DEMOGRAPHIC CHARACTERISTICS

SUMMARY

Community needs and resource indicators encompass economic and demographic characteristics, such as population, income, property value, employment and business activity. Local Economic and Demographic Characteristics is a category in which tax base and economic and demographic characteristics are treated as different sides of the same coin. On one side, tax base determines a community's wealth and its ability to generate revenue (that is, level of personal, commercial and industrial income). On the other side are economic and demographic characteristics that affect community demands, like public safety, capital improvements and social services.

Changes in community needs and resources are interrelated in a continuous, cumulative cycle of cause and effect. For example, a decrease in population lowers the demand for housing and causes a corresponding decline in the market value of homes. This in turn reduces property tax revenue. Initial population decline also has a negative effect on retail sales and income, causing City revenues to drop even further. Expenditures for fixed costs that are impervious to declines in population and business activity cannot always be balanced to the revenue loss with a proportionate reduction in expenditures. In fact, the City may be forced to raise taxes to make up for lost revenue, placing a greater burden on the remaining population. As economic conditions decline and taxes rise, the community becomes a less attractive place to live and the population may further decline.

An examination of local economic and demographic characteristics can identify the following situations:

A decline in the tax base as measured by population, property value, employment or business activity;

A need to shift public service priorities due to a change in the age or income of residents, or the type of density of physical development; and/or

A need to reassess public policies if, for example, the jurisdiction has lost business to surrounding communities, and/or national/regional economic conditions have changed.

INDICATORS

Median Age Property Value Employment Base Business Activity Population

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2009/2010 Biennial Budget

Median Age

Warning Trend:Increasing median age of population

Formula:Median age of population

Fiscal year: 2003 2004 2005 2006 2007

Median Age 37.95 38.40 38.60 39.20 39.40

Description:

Commentary:

Analysis:

Median Age

01020304050

2003 2004 2005 2006 2007Fiscal year

As is the case with changes in population size, the relationship between the population's median age and other economic anddemographic factors is not clear. However, evidence does indicate that an aging population and an increase in the number ofsenior citizens can hurt both the revenue and expenditure profiles of a local government.

Revenues can be affected for two reasons: first, the income of senior citizens is often in the form of social security and pensionpayments, which might not change at the same rate as the general economy, and senior citizens often have full or partialexemption from property taxes and user charges; second, older persons may spend less money than younger persons.

Meanwhile, as the proportion of senior citizens increases, expenditure rates for government services may increase because seniorcitizens often require specialized programs, especially in the areas of health, welfare and transportation.

As younger age groups leave a community or decrease as a percentage of population, business activity can decrease in greaterproportion, especially if most of the people leaving are between the age of twenty-five and forty; people in this age group usuallyspend more of their income than any other age group. In addition, if this age group leaves, the community loses a significantportion of its labor force, which can further damage the local economy. However, if the increase in median age is caused by a dropin the number of families with young children, this can have a favorable effect on expenditures because it reduces needs forschools, recreation, and related programs.

An aging population can affect the type of services the City provides and the amount of resources with which the City has toaddress the service need.

An increasing trend is a warning signal.

Nationally the trend has been and continues to be an aging population. The trend is not unexpected as the baby boomers advancewith no offsetting increase in births. Along with this trend is the fact that many retiring baby boomers have the greatest share ofdisposable income.

The median age information is for Jefferson County as a whole. This information is not available for Golden, although it isestimated by the City's Planning Department that the median age of Golden residents is 4-5 years younger.

While the trend is towards an aging population, Golden continues to have a healthy population mix with students from the ColoradoSchool of Mines, young adults and families.

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Page 324 City of Golden 2009/2010 Biennial Budget

Property Value

Warning Trend:Declining growth or drop in the market

value of residential, commercial, orindustrial property (constant dollars)

Formula:Change in property value (constant dollars)Property value in prior year (constant dollars)

Fiscal year: 2003 2004 2005 2006 2007Market value of property 1,911,340,000 2,049,405,000 2,176,443,000 2,172,884,000 2,433,775,000Consumer Price Index 186.8 187.0 190.9 197.7 202.0Property value(constant dollars) 1,890,876,000 2,047,213,000 2,129,699,000 2,053,084,000 2,250,639,000Property value in prior year (constant dollars) 1,580,179,000 1,890,876,000 2,047,213,000 2,129,699,000 2,053,084,000Percent change inproperty value(constant dollars) 19.7% 8.3% 4.0% -3.6% 9.6%

Description:

Commentary:

Analysis:

Changes in property value are important because most local governments depend on property taxes for a substantial portionof their revenues. This is especially true in a community with a stable or fixed tax rate; the higher the aggregate propertyvalue, the higher the revenues. Communities in the midst of population and economic growth are likely to experience short-run, per unit increases in property value. This is because in the short-run, the housing supply is fixed and the increase indemand created by growth forces prices up. Declining areas are more likely to see a decrease in the market value ofproperties. The effect of declining property value on governmental revenues depends on the government's reliance onproperty taxes; the extent to which the decline will ripple through the community's economy affecting other revenues such assales tax, is more difficult to determine. All economic and demographic factors are closely related; a decline in propertyvalue will most likely not be a cause, but a symptom of other underlying problems.

Assessor's market value of taxable real, personal and utility property in the City of Golden is expressed in constant dollarsto determine if it is changing in an overall positive or negative direction.

A decreasing trend is seen as a warning signal.

Property values are reassessed every other year (odd year) resulting in spikes in the indicator as assessments catch upwith the market.

Increases in property values are due to a combination of rising residential housing prices, commercial and residentialdevelopment, and annexations.

The development at Clear Creek Square and a continued strong residential housing market is reflected in the 2003reasssessment figures. Minimal commercial development and some stabilization of residential prices resulted in a lowerincrease in the 2005 reassessment. The decline in 2006 is partially due to the closure of the Big Tree Mobile Home Park,and is expected to be temporary.

Property Values

-10%

0%

10%

20%

30%

40%

2003 2004 2005 2006 2007Fiscal Years

Per

cent

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Page 325 City of Golden

2009/2010 Biennial Budget

Employment Base

Warning Trend:Increasing rate of local unemployment or a

decline in the number of jobs within the community

Formula:Local unemployment rate and/or

the number of jobs within the community

Fiscal year: 2003 2004 2005 2006 2007

Unemployment rate 5.8% 5.0% 5.1% 4.4% 3.9%

Description:

Commentary:

Analysis:

1

Unemployment Rate

0.0%

2.0%

4.0%

6.0%

2003 2004 2005 2006 2007Fiscal year

Per

cent

age

The unemployment rate and the number of jobs within the community are considered together because they are closely related; forthe purpose of this discussion, they will be referred to as the employment base. Employment base is related directly to businessactivity and personal income. Changes in the unemployment rate are related to changes in personal income; and thus a measureof, and an influence on, the community's ability to support its business sector.1

If the employment base is growing, is sufficiently diverse to provide a cushion against short-run economic fluctuations or adownturn in one sector, and it provides sufficient income to support the local business community, then it will have a positiveinfluence on the local government's financial condition. A decline in the employment base--as measured by unemployment rate ornumber of available jobs--can be an early sign that overall economic activity is declining and that government revenues may bedeclining as well.

The unemployment rate is the number of unemployed persons as a percent of all persons working or seeking work. A decline inunemployment may signal a strong employment base. An increase would signal a warning.

Unemployment increased in 2003 after several years of decline as a result of the economic downturn especially in thetelecommunications, technology and travel sectors.

The decrease in the unemployment rate since 2003 indicates improvements in the local economy.

The unemployment rate reflects the employment status of citizens who live within a community's geographic boundaries,regardless of whether their jobs are within or outside the community.

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Page 326 City of Golden 2009/2010 Biennial Budget

Business Activity

Warning Trend:Decline in business activity as measured by retail sales,

number of business units, gross business receipts,number of acres devoted to business and market or

assessed value of business property(constant dollars where appropriate)

Formula:Retail Sales constant dollars

Fiscal year: 2003 2004 2005 2006 2007Retail Sales 316,480,000 326,547,000 333,213,000 344,714,000 357,936,000Consumer Price Index 186.8 187.0 190.9 197.7 202.0Retail Sales (constant dollars) 316,480,000 326,198,000 326,057,000 325,709,000 331,002,000

Number of Retail Businesses (within City limits) 399 467 449 430 439

Description:

Commentary:

Analysis:

Retail Sales (constant dollars)

0

100,000,000

200,000,000

300,000,000

400,000,000

2003 2004 2005 2006 2007Fiscal year

Dol

lars

The level of business activity affects a local government's financial condition in two ways. First, it directly affects any revenue yields that are a productof business activity, such as those from sales or gross receipt taxes. Second, it has indirect influences; a change in business activity affectsdemographic and economic areas such as personal income, property value and the employment base. Changes in business activity also tend tohave cumulative effects. For example, a decline in business activity can harm a community's employment base, income and property value, whichcan in turn create further decline in business activity.

For both indicators, an increasing trend is a positive indicator. A decrease signals a downward trend in the economy which will adversely affectCity revenues.

Number of Businesses

0

200

400

600

2003 2004 2005 2006 2007

Fiscal year

Num

ber

The decline in 2003 is a result of the economic slowdown. Since then, retail sales have increased at a pace equal to inflation.

The number of businesses can fluctuate as businesses close and new businesses open (including home based businesses). Clear Creek Commonsopened in 2004, providing an additional location for new businesses to locate in the City.

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Page 327 City of Golden

2009/2010 Biennial Budget

Population

Warning Trend:Rapid change in population size

Formula:Population

Fiscal year: 2003 2004 2005 2006 2007

Population 17,513 17,751 17,861 17,863 17,906

Description:

Commentary:

Analysis:

Population

010,00020,00030,000

2003 2004 2005 2006 2007Fiscal year

The exact relationship between population change and other economic and demographic factors is uncertain. However,population change can directly affect governmental revenues. For example, some taxes are collected on a per capita basis, andmany intergovernmental revenues and grants are distributed according to population; a sudden increase in population can createimmediate pressures for new capital outlay and higher levels of service. In the case of annexations, where the capitalinfrastructure is already in place, there may still be a need to expand operating programs.

A decline in population would at first glance, appear to relieve the pressure for expenditures, because the population requiringservices is smaller, but in practice, a local government faced with population decline is rarely able to make reductions inexpenditures that are proportional to population loss. First, many costs such as debt service, pensions and governmentalmandates, are fixed and cannot be reduced in the short-run. Second, if the out-migration is composed of middle and upper-income households, then those remaining in the community are likely to be the poor and aged who depend the most ongovernment services. In addition, the interrelationship of population levels, and other economic and demographic factors tends togive population decline a negative cumulative effect on revenues; the greater the decline, the more adverse the effects onemployment, income, housing and business activity.

The population of the City of Golden is determined by the U. S. Census count made every 10 years and estimates during non-Census years prepared by the City of Golden planning department.

Rapid change is the warning trend for this indicator, because abrupt increases or decreases in population can increase servicecosts or reduce City revenue bases.

The Denver Metro Area continues to see a net population influx.

The City's annual population changes continue to be minimal and fairly stable due the one percent growth cap for residentialconstruction approved in 1995. The minimal change in population in 2006 is due to the closure of the Big Tree Mobile Home Parkbeing offset by minimal new residential construction.

Planning for future needs and the continued growth of the population are addressed annually in the Budget and in the 10-YearCapital Improvement Plan.

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Page 328 City of Golden 2009/2010 Biennial Budget