The guy who finished last in your fantasy football league isn’t the only one “doing things differently” this year.
In Tuesday’s Longmont City Council session, money will be top of mind. City staff will offer presentations on the 2027 budget and the 2027-2031 Capital Improvement Program.
But, instead of releasing the full line item budget the city usually has at the beginning of September, city staff will present a “2027 Budget Message” and “Consolidated Fund Statement,” according to a City of Longmont agenda packet. The full budget is planned for release in mid-September.
A troubling sign?
The reason for the delay? The agenda packet says “unforeseen revenue challenges and initial gaps between projected revenues and expenditures” are to blame. The city document doesn’t elaborate further, but a number of factors have proven to be a thorn in Longmont’s side.
Declines in property tax revenue: Recently-passed Colorado legislation has reduced property-assessment rates, limiting how much revenue Longmont can collect. The city specifically cited SB23B-001 and SB24-233 in past budget documents as laws that would reduce city revenue.
Weakened development activity and declining use-tax revenue.
Colorado recently reduced Longmont’s share of state marijuana tax revenue from 10% to 3%.
City Manager Harold Dominguez has repeatedly warned city council this year that Longmont’s financial picture will be tight.
What we do know:
Capital Improvement Program expenditures. The CIP is described by the city as the first step in developing the annual operating budget, and includes projects related to infrastructure, like roads, buildings and parks.
The CIP includes $316.6 million worth of projects between 2027-2031.
Of that amount, $95 million is earmarked for 2027 alone.
Water, electric and transportation are the city’s three largest expenses, accounting for 69% of CIP projects. Water is the priciest — It accounts for 32% of CIP projects, an estimated, $30.6 million.
Prior to adoption, the city will host a public hearing on the budget before October 1.