Loveland’s proposed 2027 general fund budget projects $136 million in revenue and $141 million in expenses
Loveland’s proposed 2027 general fund budget includes $136 million in revenue, $141 million in expenses and $2.6 million for capital projects. City Council is scheduled to consider formal adoption in October, with utility rate increases also proposed.
Loveland’s proposed 2027 general fund budget projects about $136 million in revenue and roughly $141 million in expenses, according to a City Council budget workshop held Aug. 24. The city said the budget is not yet healthy, although reductions made in 2024 and 2025 mean additional reductions are not necessary for the 2027 proposal.
“This is an exercise in looking to the future,” Acting Deputy City Manager and Chief Financial Officer Molly Elder said at the start of the workshop. The discussion covered revenues, expenses, capital needs and long-term financial considerations ahead of formal budget adoption in October.
About half of general fund expenses would pay city employees. The fund supports services including police, fire, parks, streets, city operations and the library. The proposal includes about $2.6 million for general fund capital projects, which the city said is less than needed to maintain existing buildings, roads and other assets. Just over half of critical departmental requests were included in the draft budget.
The city also expects higher revenue after agreements connected to Centerra expire: about $4.1 million more in sales tax beginning in 2029 and $2.2 million more in property tax beginning in 2030. The city said those increases are not expected to fully offset past losses, including an 11.1% decline in 2024, or about $10.5 million annually, resulting from a change to the sales tax base.
Utility budgets are proposed to decrease 1.17%, from $269,478,767 in the 2026 adopted budget to $266,316,106 in 2027. Proposed 2027 rate increases include 7% for water, 8% for wastewater and 6.63% for electric service. Public Works Director Will Jones said the city has historically budgeted about $2.2 million annually for facility maintenance, based on a five-year average, compared with a best-practice target of about $7.1 million, a gap of nearly $4.9 million. Formal budget adoption is scheduled for City Council meetings this fall.