Citizens Budget Advisory Committee (CBAC) Regular Meeting - April 15, 2026

The Citizens Budget Advisory Committee (CBAC) met on Wednesday, April 15, 2026, at 7:30 AM in the City Council Chambers at Golden City Hall. The meeting covered a year-end tax report for 2025, a finance department reorganization proposal, reviews of long-range budgeting and debt policies, city updates, community conversations, and calendar planning. The meeting was adjourned at 9:26 AM.

Consent Calendar

• Unanimously approved the agenda with one correction (changing "2025 Calendar" to "2026 Calendar" on item J).
• Unanimously approved the November 12, 2025, regular meeting minutes.

Discussion Items

• 2025 Year-End Sales, Use, Lodging, and Marijuana Tax Report (15 minutes): New Finance Director Joe Allaire presented final (unaudited) numbers. Highlights:
  • Sales tax collections for 2025 ended at $25,182,360, just under $1 million above 2024 levels, but $773,640 below budget. Fourth-quarter collections were approximately 3.5% above the same period in 2024.
  • Use tax revenues totaled $6,058,081, outperforming each of the prior four years and $888,621 above 2024 levels.
  • Lodging tax collections totaled $2,875,316, which was $224,684 below budget, but outpaced the last three years in actual revenue.
  • Marijuana tax revenue finished at $632,173, which was $252,173 above the 2025 budget. The city has four dispensaries, with collections starting in March 2023.
  • Staff expressed no material concerns with 2025 sales tax performance but will monitor early 2026 trends due to macroeconomic uncertainty.
• Finance Department Reorganization (30 minutes): Joe Allaire presented a proposal to eliminate the Deputy Director of Finance position and replace it with two Accountant I positions and add an Accounts Payable Technician. The goal is to shift from a centralized model to one where accountants serve as dedicated points of contact for specific funds and departments, improving responsiveness and financial literacy. The position of Senior Accountant remains. The reorganization is budget-neutral and aims to create a more sustainable department.
• Long Range Budgeting and Debt Policy Overview: CBAC Chair Loretta Huff noted the policies are reviewed annually. The committee discussed the Debt Management Policy's statement that "debt is a tool of last resort." No changes were proposed; members were asked to submit any comments for discussion at the May meeting. The group also reviewed the Fund Balance Policy (target of 20% of general fund expenditures).
• City Updates (20 minutes): City Manager Scott Vargo provided updates:
  • The Finance Department reorganization is intended to increase financial literacy and accountability across city departments.
  • The Thriving Community Grant Program will change to a tiered, non-competitive model (similar to the Arts and Culture Commission grant program), with $150,000 available. Priority categories include human services, veterans, older adults, youth education, and environment/recreation. The proposal will go to City Council on May 12, 2026.
  • A stage one drought declaration was signed, effective May 1, 2026, restricting lawn watering to two days per week (down from three). Other measures include use of Aquahawk for monitoring, potential surcharges for violations, and education efforts.
  • Scott Vargo noted that Golden's financial position remains strong due to a diversified revenue base, including significant online sales tax.
  • Discussion on e-bike enforcement challenges, particularly high-speed e-motorcycles being used by juveniles.
• Community Conversations (15 minutes): Members raised topics including:
  • An indigenous summit at the Golden History Museum (April 28-30, closed to public).
  • A request for better public education on parking enforcement revenues.
  • Interest in a broader overview of all city funding provided to community organizations (not just Thriving Community Grants).
  • Suggestions for future departmental updates: creek management in May, drought/water updates in June/July.
• Calendar Review and Update (5 minutes):
  • The May 20 meeting will be moved to May 13, 2026, to accommodate Joe Allaire's schedule.
  • The November 4, 2026, meeting will need to be relocated from Council Chambers due to election activities; the Golden Community Center is a potential location.
  • Chair Loretta Huff will distribute a proposed topics list for the remaining 2026 meetings and seek feedback by May 13.

Key Outcomes

• CBAC approved the agenda and November 2025 minutes unanimously.
• No formal votes were taken on the tax report, reorganization, or policy reviews; these were informational items.
• The next CBAC meeting is scheduled for May 13, 2026, at 7:30 AM in the Council Chambers, with a planned presentation on creek management.
• The committee will continue its review of the long-range budgetary and debt policies; any proposed changes will be discussed in May.
• Staff will develop a comprehensive overview of all city funding distributed to community organizations for a future meeting.