Citizens Budget Advisory Committee Regular Meeting - September 16, 2026

The Citizens Budget Advisory Committee (CBAC) of Golden, Colorado, met on Wednesday, September 16, 2026, from 7:31 a.m. to 9:30 a.m. in the City Council Chambers at 911 10th Street. Chair Loretta Huff presided, with Vice Chair Sandy Curran and members Chris Davell, Marv DeSelm, Dolly Kelly, Peter Luptovic, Karen Oxman, Bethany Thomas, Ross Fraser, Saoirse Charis-Graves, Jim Dale, and Kasia Zak present. Staff included Finance Director Joe Allaire and Interim City Manager Carly Lorentz. The committee reviewed the June 2026 tax report, the 2025 Annual Comprehensive Financial Report (ACFR), and the draft 2027-2028 operating budget, and made a funding recommendation. Finance Director Allaire also introduced new Accountant Jordan Edwards.

Consent Calendar

• The agenda was amended to add a City Manager update and to defer the CBAC bylaws discussion to October; the agenda was unanimously approved at 7:34 a.m.
• The August 19, 2026, regular meeting minutes were unanimously approved at 7:35 a.m.

Discussion Items

• June 2026 Sales, Use, Lodging, and Marijuana Tax Report: Finance Director Joe Allaire reported generally encouraging mid-year results. Sales tax revenue in June totaled $2,714,329, up $89,157 (3.40%) from June 2025; year-to-date collections reached $12,192,116, up $353,162 (2.98%) and $79,504 above the seasonally adjusted budget. Out-of-city sales rose 7.91%, and South Golden, Colfax, North Golden, and Downtown Golden posted local gains. Use tax revenue totaled $460,270 in June, up $84,656 (22.54%) from June 2025, narrowing the year-to-date decline to 17.15%; audit and compliance activity recovered $466,224 in use tax audit revenue, with net audit revenue of $450,057 after $16,167 in refunds. Lodging tax totaled $328,108 in June, up from $269,078 in May but 4.0% below June 2025; year-to-date lodging tax was $1,208,854, $69,374 below budget and 5.5% below 2025. Marijuana tax brought in $63,082 in June, the highest month shown and 12.4% above June 2025; year-to-date marijuana tax reached $343,607, exceeding budget by $101,804 and 2025 by $47,539 (16.1%).
• CBAC marijuana tax funding recommendation: CBAC discussed directing surplus marijuana tax revenue to community assistance. After an amendment, the committee unanimously approved a motion to recommend that $105,000 be given as appropriate to the needy through the marijuana fund for food insecurity and housing insecurity. Discussion recognized that the distribution details would be handled through proper channels, with input from staff such as Sarah.
• 2025 ACFR / Audit Review: Joe Allaire highlighted the clean, unmodified audit opinion for fiscal year 2025. The City's total net position increased by approximately $16.6 million to $338.6 million, including $10.8 million from governmental activities and $5.8 million from business-type activities. About $263 million represents net investment in capital assets. The General Fund ended 2025 with a $14.8 million fund balance, of which approximately $11.7 million was unassigned, equal to 31.5% of General Fund expenditures and transfers out. The General Fund balance declined by about $8.7 million, largely due to transfers supporting capital projects. Combined governmental fund balances rose $37.3 million to $94.7 million, with the Sales and Use Tax Capital Improvement Fund at $67.5 million following the issuance of certificates of participation for the new Municipal Building. The Open Space Fund ended the year with a $5.2 million deficit tied to Ulysses Park improvements; the financial statements disclose a $6 million interfund advance from the Water, Cemetery Perpetual Care, and Medical Benefits funds, repayable at 2% interest over 15 years. Finance Department turnover was acknowledged.
• Draft 2027-2028 Operating Budget: Allaire presented the working draft as a maintenance-oriented budget. Revenue assumptions include conservative 1.5% sales tax growth, with property taxes projected to decrease in 2027 and remain flat in 2028. The draft projects General Fund balance use of approximately $2.3 million in 2027 and $4 million in 2028, with projected ending fund balances of $13.9 million and $10 million, respectively - above the 20% reserve benchmark but with a narrower margin in 2028. Proposed transfers include $3.6 million to the Fire Fund in 2027 rising to $4.8 million in 2028, and a reduction in the Community Center transfer from $1.2 million to $200,000 per year, using the center's healthy fund balance without planned service reductions. Head count additions currently include two firefighters in 2028 and two grant-funded, time-limited sustainability positions; a possible conversion of a Community Service Officer to a patrol officer for creek enforcement is expected to go to City Council in October. Capital budget work remained in development, with a proposed budget scheduled for City Council on October 13, 2026. Some members expressed support for maintaining public safety and community center services while urging scrutiny of rising police, fire, and legal costs and of the Visit Golden marketing investment. Allaire and Lorentz responded that Visit Golden is being reviewed for transparency, business support, and strategic marketing.
• City Manager update: Carly Lorentz reported on Ulysses Park security improvements, including cameras, design changes, and increased patrols; a successful drone show and employee picnic at the park; increased bear activity coinciding with trash contract changes and requests for bear-resistant containers; and start-up difficulties with the new HAWK signal near the Mines campus, including timing issues and traffic congestion. The PROTECT grant for Lena Gulch was in the process of being signed. One attendee raised concerns about REDI meeting transparency, asking that agendas and minutes be posted and meetings possibly streamed.

Community Conversations

• A committee member shared Golden United activities, including a meal program with Mines students, a mental wellness series, and a joint community dialogue with Mines Kickstart, as well as upcoming nonpartisan election forums.
• The meeting adjourned at 9:30 a.m.

Key Outcomes

• Agenda amended and unanimously approved; August 19, 2026, minutes unanimously approved.
• CBAC unanimously recommended allocating $105,000 from the marijuana tax fund for food insecurity and housing insecurity support through appropriate distribution channels.
• CBAC requested that the fund balance line be added back to the bottom of fund pages in future budget documents.
• Bylaws discussion, including virtual participation, was deferred to the October meeting.
• The 2027-2028 budget remains a draft; CBAC will continue its review in October before final recommendations.