Council Supports Priorities with Carryover Funds - April 2014
The City of Greeley ended 2013 with a cash balance of approximately $8.8 million. This is attributed to conservative spending by City employees and revenue from several sources above projections for the year.
With the improving economy, residents and visitors to Greeley were more willing to spend some of their hard earned cash. Examples of areas where revenue exceeded projections included vehicle sales, retail sales and restaurant purchases. These purchases along with oil and gas activity all helped to increase sales tax collections and boost the City’s revenue.
At the Council’s March 25 worksession, they discussed how the additional revenue will be spent. The City Manager recommended that the money be used to support the Council’s community priorities, and the Council concurred.
The consensus was that $4 million should be added to the street maintenance effort. This more than doubles the amount annually allocated via the sales tax on food. The additional funding will help improve the condition of some streets in Greeley, but still falls short of the $10-12 million needed annually.
Approximately $1.7 million will be used to repair and maintain public buildings such as HVAC repairs at the Family FunPlex and Lincoln Park Annex and adding ADA compliant restrooms at Island Grove Park, Bittersweet Park and the Senior Activity Center. This will put a very small dent in the $25 million in needed repairs and improvements, but it will help.
With so many facilities and over 40 parks to maintain, the City uses numerous pieces of large and small equipment, from fire trucks to fertilizer spreaders. Just over $1.55 million will be used to replace old equipment and to begin setting aside funds for replacement of smaller items like police cars and pickup trucks.
The remaining carryover funding will be used for a variety of projects including additional staff to support business development via the City’s planning and zoning functions; an impact fee study; a new youth community leadership program; a succession planning program; city staff pay adjustments; and a new reserve fund for downtown projects that are in the planning stages.
Overall, Greeley’s economic outlook is extremely positive. And the strategic spending planned for these dollars will help the community continue its robust recovery from the recession.
Roy H. Otto
Greeley City Manager
Email City Manager Otto