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TC Resolution 18-21 Amending the 2018 Town of Avon Operating BudgetTOWN OF AVON, COLORADO RESOLUTION NO. 18-21 A RESOLUTION TO AMEND THE 2018 TOWN OF AVON OPERATING BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2018 OPERATING BUDGETS FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2018 AND ENDING ON THE LAST DAY OF DECEMBER, 2018 WHEREAS, the Town Council of the Town of Avon has previously adopted the 2018 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for all operating funds for 2018; and WHEREAS, the Town Council finds it necessary to amend the 2018 budget to more accurately reflect the revenues and expenditures for 2018; and WHEREAS, upon due and proper notice, published or posted in accordance with the law, the proposed budget amendment to the 2018 budget was open for inspection by the public at a designated place, a public hearing was held on December 11, 2018 and interested taxpayers were given the opportunity to file or register any objections to the proposed budget amendment; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the budget remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That estimated revenues and expenditures for the following funds are revised as follows for 2018: Original or Current Previously Proposed Amended Amended 2018 Budget 2018 Budget General Fund Beginning Fund Balance $ 5,814,591 $ 5,814,591 Revenues and Other Sources 16,580,030 16,969,890 Expenditures and Other Uses 17,014,188 16,913,283 Ending Fund Balance 5.380.433 5.871.198 Resolution No. 18-21 December 11, 2018 Page 1 of 3 Community Enhancement Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Water Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Affordable Housing Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Exterior Energy Offset Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Disposable Paper Bag Fee Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Resolution No. 18-21 December 11, 2018 Page 2 of 3 Original or Previously Amended 2018 Budget $ 205 80,000 Current Proposed Amended 2018 Budget $ 0 80,000 0 80.205 $ 80,000 $ 111,946 $ 192,173 170,000 176,176 269,149 269,149 12.797 $ 99.200 $ 563,329 $ 585,486 32,541 32,541 25,000 25,000 570,870 X93.027 $ 32,768 $ 37,768 5,000 5,000 0 0 $ 37,768 $ 37,768 $ 0 0 0 $ 0 $ 536,467 1,016,854 1,016,854 $ 536.467 $ 0 18,000 0 $ 535,590 1,018,354 1,018,354 535.590 Section 2. That the budget, as submitted, amended, and hereinabove summarized by fund, hereby is approved and adopted as the budget of the Town of Avon for the year stated above. Section 3. That the budget hereby approved and adopted shall be signed by the Mayor and made part of the public record of the Town. ADOPTED this 11th day of December, 2018. AVON TOWN COUNCIL By:, a O& Je ie Fancher, Mayor Resolution No. 18-21 December 11, 2018 Page 3 of 3 Attest: Original or Current Previously Proposed Amended Amended 2018 Budget 2018 Budget Mobility Enterprise Fund Beginning Fund Balance $ 625,541 $ 660,464 Revenues and Other Sources 1,551,900 1,704,084 Expenditures and Other Uses 1,687,784 1,774,242 Ending Fund Balance 489.657 $ 590,306 Fleet Maintenance Fund Beginning Fund Balance $ 239,818 $ 49,964 Revenues and Other Sources 1,694,626 1,729,699 Expenditures and Other Uses 1,693,973 1,723,855 Ending Fund Balance $ 240,471 55.808 Equipment Replacement Fund Beginning Fund Balance $ 3,231,619 $ 3,534,505 Revenues and Other Sources 662,478 709,888 Expenditures and Other Uses 584,517 911,623 Ending Fund Balance 3.309.580 $ 3,332.770 Section 2. That the budget, as submitted, amended, and hereinabove summarized by fund, hereby is approved and adopted as the budget of the Town of Avon for the year stated above. Section 3. That the budget hereby approved and adopted shall be signed by the Mayor and made part of the public record of the Town. ADOPTED this 11th day of December, 2018. AVON TOWN COUNCIL By:, a O& Je ie Fancher, Mayor Resolution No. 18-21 December 11, 2018 Page 3 of 3 Attest: