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Budget Presentation 2009/10 Operating Budget 2009-14 Capital Improvement Program May 18, 2009 Presentation Outline Introduction Town Manager Overview Finance Director Issues Town
Manager CIP Ass’t. Fin. Dir. Public Comment Council Discussion & Direction Worldwide Economic Crisis Los Gatos not immune Residents & Businesses impacted Town’s major revenues
down Yet cost of services going up Relatively strong due to past actions Challenges isolated to the General Fund Healthy reserves in place Continued focus on Economic Vitality Quick
response with hiring freeze, controls $2.7 m in Adjustments Needed (page 3 & attachment 3) Vacant position elimination $900 k Other staffing & salary savings $700 k Operating cost
reductions $600 k Fee adjustments and transfers $500 k TOTAL $2.7 M Budget Impacts Limited due to restructuring & efficiencies Reduced management capacity Continuing unmet
maintenance needs Focus on health/safety, not aesthetics Scheduled services, not immediate response Balanced Budget Overview Updated 5 Year Forecast (pages 4 & 5) Assumptions Slow recovery
to 5% growth in years 4 & 5 Potential loss of Netflix revenue in year 5 Known salary/benefit cost increases only PERS portfolio correction in year 3 & beyond Results Continuing new
shortfalls of $1+ m per year Strategically use reserves in later years Budget Issues - 1 Staffing & Compensation Changes (pg 6) Public Counter Hours (pg 6) Environmental Sustainability
(pg 6) Economic Vitality (pg 7) Support for Non-Profits & Events (pg 7) Budget Issues - 2 Management Capacity (pg 8 & att. 4) Revenue Enhancements (pg 9) Donation Opportunities
(pg 9 & att. 5) State Budget Impacts (pg 9 & att. 6) Proposed FY 2009 – 2014 CIP (pages 10 – 11 and binder) CIP Development Process Review current and scheduled projects Match priorities
to available resources Planning Commission review Proposed 5 Year CIP totals $35 million Proposed 2009/10 CIP totals $27 million $24 million in carry-forward projects & funds $3 m in
new or expanded funding Specific Capital Projects Streets Program Street repair, incl. sidewalks, curbs, restriping Storm drain rehabilitation and retaining walls Roberts Road Bridge
(CalTrans grant) Parks Program Monte Sereno funds now allocated But State Park Bond funds temporarily frozen Public Facilities Program Completion of Police Operations Building Construction
of new Library Civic Center site improvements Maintenance Yard vehicle canopy repainting Recommended Action Public Comment Council Discussion Council Direction Changes to Proposed Budget
& CIP Direct preparation of budget resolution Adopt 2009/10 Staff Special Projects list Adopt 2009/10 Donation Opportunities list Adopt State funding resolution (attachment 6) Thank
You Small Town Service ~ Community Stewardship ~ Future Focus Small Town Service ~ Community Stewardship ~ Future Focus Small Town Service ~ Community Stewardship ~ Future
Focus