Fort Collins City Budget October 2022 Update

Going into its 3rd and final City Budget Work Session, the Fort Collins City Council has expressed interest in finding a way to fund 34 budget requests (offers) that were not included in the 2023-2024 City Manager’s Recommended Budget.  For a complete list of the new budget requests and costs go HERE .

The City executive team comprised of the City Manager and her direct reports discussed all available funding options for these new budget requests and determined Increasing the Sales Tax revenue forecast would not be recommended as an option.

Some funding options be considered are:

• Repurpose $200k per year of Conservation Trust moneys.
• Decrease Immigration Legal Fund by $100k per year to the current level of funding of $150k per year.
• Deeper use of General Fund reserves, which takes away from future budget cycles.

The Recommended Budget includes $1.95M of reductions to Ongoing Offers.

Relying upon revenue projections provided by the Financial Services Department, the 2023 net budget will be in the neighborhood of $546M (does not include utility services and intergovernmental transfers).  In contrast, budget offers for 2023 total $769.5M with the addition of 223 full-time equivalent employees and $747.8M (250 FTE) for 2024.

The current budget is based on a $15/hour minimum wage.  Moving to $19/hour minimum wage as is being discussed by council is estimated to increase ongoing costs by $3.0M, including the impact of wage compression.

Formal adoption of the 2-year budget is scheduled to take place November 15.

Source: Fort Collins Area Chamber of Commerce
October 10, 2022