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Financial Information for Debt Related Ballot Questions

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 2019 NOTICE OF FINANCIAL INFORMATION

 FOR CITY OF LONGMONT

BOULDER AND WELD COUNTIES, COLORADO 

At the election to be held on November 5, 2019, the City of Longmont (the “City”) is submitting one ballot issue concerning the creation of debt or financial obligation. This item is Ballot Issue 3B - Authorizing $45,500,000 Of Revenue Bonds And A Sales And Use Tax Rate Increase Of .18% To Fund A Competitive Pool And Ice Rink.

Pursuant to § 1-7-908(1) C.R.S., the following financial information is provided:

I. City’s ending General Fund balance by fiscal year

City’s Ending General Fund Balance by Fiscal Year
 Fiscal Year
 Ending Balance
 2019 (projected)
 $20,359,106
 2018 (audited)
 $26,498,025
 2017 (audited)
 $21,934,269
 2016 (audited)
 $19,784,130
 2015 (audited)
 $18,626,295

 

II. Total revenues in and expenditures from the City’s General Fund by fiscal year

 Fiscal Year
 Revenues In
 Expenditures From
 2019 (projected)
 $83,988,0035  $90,126,922
 2018 (audited)
 $84,790,502  $79,303,266
 2017 (audited)
 $78,183,461  $75,808,926
 2016 (audited)
 $75,361,938  $72,805,635
 2015 (audited)
 $71,902,876  $71,289,871

 

III. Amount incurred by the City for cash flow purposes by fiscal year (debt or other financial obligation with not more than one-year term)

Amount Incurred by the City for Cash Flow Purposes – by Fiscal Year
 Fiscal Year
 Cash Flow Borrowings
 2019 (projected)
 $ -0-
 2018 (audited)
 $ -0-
 2017 (audited)
 $ -0-
 2016 (audited)
 $ -0-
 2015 (audited)
 $ -0-

 

IV. The City’s emergency reserve required by § 20(5) of Article X of the Colorado Constitution has been fully funded by cash or investments for the following fiscal years:

The City’s Emergency Reserve
 Fiscal Year
 Emergency Reserve Held in General Fund
 2019 (current)
 Fully Funded
 2018 (audited)
 Fully Funded
 2017 (audited)
 Fully Funded
 2016 (audited)
 Fully Funded
 2015 (audited)
 Fully Funded

 

V. City’s ending Public Improvement Fund balance by fiscal year

City’s Ending Public Improvement Fund Balance by Fiscal Year
 Fiscal Year
 Ending Balance
 2019 (projected)
 $4,520,630
 2018 (audited)
 $4,877,157
 2017 (audited)
 $5,780,534
 2016 (audited)
 $5,678,764
 2015 (audited)
 $3,277,576

 

VI. Total revenues in and expenditures from the City’s Public Improvement Fund by fiscal year

Total Revenues In and Expenditures From the City’s Public Improvement Fund by Fiscal Year
 Fiscal Year
 Revenues In
 Expenditures From
 2019 (projected)
 $6,560,706  $7,614,233
 2018 (audited)
 $6,482,199  $7,352,674
 2017 (audited)
 $6,870,153  $6,892,039
 2016 (audited)
 $7,198,687  $5,223,394
 2015 (audited)
 $4,784,412  $7,427,976

 

VII. Any Person may review the City’s:

  1. Audited financial statements for the last four fiscal years;
  2. Any Management Letters made public and provided to the City by the City’s auditors for the last four fiscal years; and
  3. The budget for the current fiscal year at the following location:
    City of Longmont, 350 Kimbark St., Longmont, CO 80501; Phone 303-651-8649

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