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9B - City's 2004-2005 budget processDO NOT REMOVE - PRAB File Material CITY OF BOULDER ~ PARKS AND RECREATION ADVISORY BOARD AGENDA ITEM w.. MEETING DATE: March 31, 2003 (Agenda Item Preparation Date: March 12, 2003) AGENDA TITLE: City's 2004 - 2005 budget process REQUESTING DEPARTMENT: Jan Geden, CPRP, Duector of Pazks and Recreahon Julya Bndgewater, Admuustrative Services Drvision Duector F7SCAL IMPACT: No fiscal unpact PURPOSE: To uiform the Pazks and Recreaaon Boazd about City of Boulder economic ~~ conduions, revenue pro~ections and other Snancial mformahon and how they will impact the crty's ~-- budget 2004 - 2005 processes. BACKGROUND: The Crty has expenenced decreases m previously anticipated revenues m over the last three yeazs In addition to decreasmg sales tax revenues, a pubhc safety taac ~s sunsettmg at the end of 2004, puttmg additional strau~ on the General Fund Budget. These economic condrtions aze anticipated to affect how we will be able to provide services for the 2004 and 2005 budget years. The Fmance Director, Kate I,ove, wID present the financial situation that ~s the basis for the Crty's budget development. ANALYSIS: Ttus is an information item only PUBLIC COMMENT AND PROCESS: Ttus item ~s bemg heazd at tlvs public meehng, advert~sed m the Daily Camera. STAFF RECOMMENDATION: Th~s ~s an information item only. AGENDA ITEM q,~~; PAGE 1