Agenda Memo

City of Boulder City Council Agenda Item Meeting Date: October 23, 2025 Agenda Title Consideration of the following pertaining to the 2026 budget of the Boulder Municipal Property Authority Board: Consideration of a motion to adjourn as the Boulder City Council and convene as the Boulder Municipal Property Authority Board of Directors; and Consideration of a motion to adopt Resolution 164 concerning the City of Boulder, Boulder Municipal Property Authority; adopting a budget for the 2026 fiscal year beginning January 1, 2026; and setting forth related details; and Consideration of a motion to adjourn as the Boulder Municipal Property Authority Board of Directors and convene as the Boulder City Council

Staff Contact •

Charlotte Huskey, Budget Officer, Finance Department

Draft Motion Language Staff requests council consideration of this matter and action in the form of the following motion: Motion to adjourn as the Boulder City Council and convene as the Boulder Municipal Property Authority Board of Directors; and Motion to adopt Resolution 164 concerning the City of Boulder, Boulder Municipal Property Authority; adopting a budget for the 2026 fiscal year beginning January 1, 2026; and setting forth related details; and

Motion to adjourn as the Boulder Municipal Property Authority Board of Directors and convene as the Boulder City Council.

Executive Summary The purpose of this item is to adopt and appropriate the 2026 budget for the Boulder Municipal Property Authority (BMPA) Fund. Resolution 164 proposes the 2026 budget of $10,167,818.

Council Action Options Option

Outcome

Approve motion language as drafted

If the motion is approved the Boulder Municipal Property Authority will have an appropriated and adopted budget for the 2026 fiscal year.

Define and adopt a modified motion

Council would need to define any modifications or amendments to the draft motion language and have the motion language perfected before a vote to adopt this item. This will require staff to bring back an amended version

Deny the motion or take no action

If council does not adopt the resolutions the district's budget and spending authority will expire, and essential government functions will be jeopardized.

Refer back to staff

If council refers this item back to staff, council will need to define modifications or amendments so that staff is prepared to present modified and amended district budget resolutions at a second reading.

Alignment with City Plans and City Council History Sustainability, Equity and Resilience (SER) Framework and Citywide Strategic Plan Alignment SER Framework Goal Area The city develops the annual budget through the lens of the overarching SER Framework, which serves as the foundation to budget decision-making and resource allocation.

Citywide Strategic Plan The annual budget development process represents a key pillar of the annual workplan for the city’s Budget Office, which focuses on forecasting, budgetary and fiscal planning with departments and in support of the organization, and alignment of the city’s resources to the city’s SER Framework and continued work in outcome-based budgeting. Staff Notes N/A - this is a standard budget item.

Alignment with Additional City Plans N/A - this is a standard budget item.

City Council History The Boulder Municipal Property Authority (BMPA) was formed as a Colorado nonprofit corporation in February of 1988. BMPA was formed for the purpose of acquiring real and personal property and leasing, selling or otherwise conveying the same to the city. BMPA is governed by a nine-member board of directors, which consists of the members of the City Council. BMPA’s officers include a President and Vice President, which, pursuant to its bylaws, shall be the Mayor and Mayor Pro Tem, respectively, of the city and a Secretary-Treasurer, which shall be the Chief Financial Officer of the city. BMPA has no assets, other than assets acquired from the issuance of debt securities, which are pledged to the repayment of such securities. BMPA is a non-profit corporation. However, it is a component unit of the City of Boulder as provided in the definition of "Reporting Entity" used by Governmental Accounting Standards Board. This requires that the financial statements of BMPA be included in the city's Comprehensive Annual Financial Report. Therefore, BMPA must adopt a formal annual budget. The debt service payments being appropriated by this resolution are made on Lease Purchase Revenue Notes and Certificates of Participation. The revenues used to make these payments will be base rental payments from the General Fund and Open Space Fund. This resolution (Attachment A) adopts the 2026 BMPA budget.

Analysis Equity Analysis The city develops the annual budget using the SER Framework, which leads with decision-making as aligned to the goal areas and objectives underneath the sustainability, equity, and resilience umbrella. While these three pillars represent the overarching goals for the city, equity considerations are embedded throughout the annual budget development process, including the city’s efforts to shift from a traditional

increment-based budgeting approach to outcome-based budgeting, focusing more on the outcomes of our investments and how those align to the greater SER Framework.

Fiscal Note The 2026 Recommended Budget presented for City Council consideration proposes a total budget of $521.0 million, including a $407.7 million Operating Budget and $113.3 million Capital Budget. Within the 2026 Recommended Budget online budget book, the Budget in Brief and Budget Highlights provide a comprehensive summary of the significant fiscal changes included within the budget, including fiscal spending plans across all funds, departments, and programs areas in the city’s budget. The attached resolutions represent the spending level appropriation and property tax mill levy proposed to City Council as part of the Boulder Municipal Property Authority 2026 Budget.

Climate, Resilience, and Sustainability Considerations The city develops the annual budget through the lens of the overarching SER Framework, which serves as the foundation to budget decision making and resource allocation. The 2026 Recommended Budget continues to align and uplift investments supporting resilience and sustainability, including in areas such as wildfire resilience, flood mitigation, and city facility renovations and infrastructure projects that will result in reduced building energy consumption and built with sustainably sourced materials.

Community Engagement N/A - this is a standard budget item.

Workplan Considerations Adoption of these motions are incorporated into the work of the Finance Department’s annual budget process and would not require additional workplan considerations at this time.

Next Steps for City Council N/A - this is a standard budget item.

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Attachments Attachment A - Resolution 164