Council approves first reading of 2027 City budget, second reading set for Oct. 20
On Tuesday, Oct. 6, Loveland City Council received the first reading of the City’s proposed 2027 budget during their regular meeting. The presentation included a high-level budget overview, detailed updates to the General Fund since the August budget workshop, and a look ahead to long-term financial planning.
During the presentation, Finance staff emphasized that the 2027 proposal maintains short-term stability. Key budget presentation highlights included:
- General Fund Changes: Staff shared department level adjustments, reorganizational impacts, and a summary of both funded and unfunded decision packages. The proposed 2027 general fund budget is $141.1 million.
- Personnel Investments: Critical additions include police officers, criminal investigators, and a dedicated cybersecurity full-time employee.
- Decision Package Review: Many requested items remain unfunded due to limited resources. Staff stressed that the funded packages focus on essential business needs, particularly in public safety, technology, and core operations. Capital Maintenance: Staff presented on the City’s annual capital maintenance shortfall of at least $15 million in 2027, noting that deferring maintenance compounds future costs. All 2027 General Fund capital projects are limited to maintenance rather than new or expansion projects.
- Financial Forecasts: While the City remains stable in 2027, staff noted that the projected “positive” financial position in 2029–2030 is tied largely to the expiration of the Centerra MFA, which is expected to increase revenues—but not enough to fully resolve ongoing capital funding gaps.
Acting City Manager Brian Waldes emphasized that although the City is balanced for 2027, “this is not a sustainable place to be.” He noted that upcoming community conversations—funded through a proposed decision package—will be essential in shaping the City’s fiscal future, service priorities, and long-term capital strategy. Pending budget approval, the City plans to engage residents in structured discussions on service levels, revenue options, capital needs, and long-term sustainability.
Next Steps
The second reading of the 2027 budget is scheduled for Tuesday, Oct. 20. Staff will also return to City Council later this year with final 2026 adjustments and updated forecasts as part of the standard 2026 closeout cycle.
To stay up-to-date on information about the City’s budget, visit letstalkloveland.org/budget.
