Loveland board passes 2022 budget at first reading – Loveland Reporter-Herald

Loveland City Council voted on Tuesday to adopt budgets and schedules of rates, fees and charges for the city’s fiscal year 2022.

In addition to city-wide budget items, council voted on positions associated with the Northern Colorado Regional Airport, the Northern Colorado Regional Law Enforcement Training Center, the Loveland Fire Rescue Authority, Loveland Urban Renewal Authority, General Improvement District No. 1, and Special Improvement District No. 1.

The municipal budget of approximately $ 388.8 million represents an increase of approximately $ 55 million over the previous year, an increase of 16.5%. The budget includes approximately $ 117 million in general spending and approximately $ 29.7 million in capital projects.

About 32.8%, about $ 9.7 million, of the funding for these capital projects will come from special revenue funds, while 28.6% or nearly $ 8.5 million will come from the general fund, 10 , 7% or $ 2.75 million will come from capital expansion costs. , and the rest will come from grants and other sources.

The two largest traditionally funded non-commercial fund projects include the city-wide street rehabilitation program, receiving $ 8.4 million, and improvements at the intersection of Taft Avenue and US 34, receiving 5 , $ 7 million.

About 65.5% of general fund income will come from taxes, with lower amounts of 8.1% coming from payment in lieu of taxes, 7.1% from cost allocation, 3.5% from costs of service, 2.3% of licenses and permits, and the rest from other sources.

Loveland’s unallocated general fund balance goes from $ 17 million to approximately $ 3.9 million. City manager Steve Adams made it clear at one point that the balance would be available for council to spend if necessary, on mid-year credits in 2022.

All but two of the budget items were passed unanimously – Councilor Steve Olson voted alone against passing the city’s budget after saying he believed the information presented to council was insufficient, and Councilor Rob Molloy voted against the city’s schedule of tariffs, fees and charges for utilities, later saying he was concerned about the impact of the increases on residents’ utility bills.

The changes are expected to result in an average rate increase of 3% for electricity customers, of which 2.9% is attributable to an increase in wholesale rates by the Platte River Power Authority and 0.1% attributable to other utility needs. public. Water customers will face an average tariff increase of 7%.

A second and final ballot on budget items is tentatively scheduled for the November 2 council meeting.

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