TC Resolution 20-14 Amending the 2020 Town of Avon BudgetTOWN OF AVON, COLORADO
RESOLUTION NO. 20-14
SERIES OF 2020
A RESOLUTION TO AMEND THE 2020 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY
FUND AND AMENDING THE 2020 BUDGET FOR THE TOWN OF AVON,
COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY
OF JANUARY 2020 AND ENDING ON THE LAST DAY OF DECEMBER 2020
WHEREAS, the Town Council of the Town of Avon has previously adopted the
2020 budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and
expenditures for all operating funds for 2020; and
WHEREAS, the Town Council finds it necessary to amend the 2020 budget to
more accurately reflect the revenues and expenditures for 2020; 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 2020:
General Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Res. No. 20-14
May 26, 2020
Page 1 of 2
Original or Current
Previously Proposed
Amended Amended
2020 Budget 2020 Budget
$ 7,749,178
18,470,951
19,475,771
6,744,358
$ 8,210,222
15,703,008
17,430,516
6.482.714
Equipment Replacement Fund
Beginning Fund Balance $ 3,214,496
Revenues and Other Sources 746,437
Expenditures and Other Uses 944,191
$ 3,277,689
63,615
396,607
Ending Fund Balance 3,016,742 2,944,697
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 26th day of May, 2020.
AVON TOWN COUNCIL
By:
k6q—
S ah Smith Hymes, Ma or
Res. No. 20-14
May 26, 2020
Page 2 of 2
Attest: NA
Brenda Torres, Town
!SEAL
Original or
Current
Previously
Proposed
Amended
Amended
2020 Budget
2020 Budget
Affordable Housing Fund
Beginning Fund Balance
$ 695,291
$ 832,594
Revenues and Other Sources
314,478
314,478
Expenditures and Other Uses
10,000
660,000
Ending Fund Balance
$ 999,769
$ 487,072
Equipment Replacement Fund
Beginning Fund Balance $ 3,214,496
Revenues and Other Sources 746,437
Expenditures and Other Uses 944,191
$ 3,277,689
63,615
396,607
Ending Fund Balance 3,016,742 2,944,697
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 26th day of May, 2020.
AVON TOWN COUNCIL
By:
k6q—
S ah Smith Hymes, Ma or
Res. No. 20-14
May 26, 2020
Page 2 of 2
Attest: NA
Brenda Torres, Town
!SEAL