Finance Committee Packet 2025.11.03NOVEMBER 3, 2025; FINANCE COMMITTEE MEETING AGENDA PAGE 1
FINANCE COMMITTEE MEETING AGENDA
MONDAY, NOVEMBER 3, 2025
MEETING BEGINS AT 12:00 PM
100 MIKAELA WAY, AVON CO 81620
1. CALL TO ORDER AND ROLL CALL
2. APPROVAL OF JULY 7,2025 MINUTES
3. PUBLIC COMMENT [Public comments are limited to three (3) minutes. The speaker may be given an
additional one (1) minute, which may be approved by a majority of the Committee.]
4. GENERAL UPDATE ON 2025 FINANCIALS (CHIEF FINANCIAL OFFICER PAUL REDMOND)
5. GENERAL UPDATE ON 2026 PROPOSED BUDGET (CHIEF FINANCIAL OFFICER PAUL REDMOND)
6. DISCUSSION: BUDGET POLICIES (CHIEF FINANCIAL O FFICER PAUL REDMOND)
7. DOWNTOWN DEVELOPMENT AUTHORITY PLANNING AREA A FINANCIAL PROJECTIONS (CHIEF FINANCIAL
OFFICER PAUL REDMOND)
8. ADJOURNMENT
MEETING AGENDAS AND PACKETS ARE FOUND AT: WWW.AVON.ORG
MEETING NOTICES ARE POSTED AT AVON TOWN HALL, AVON RECREATION CENTER, AVON ELEMENTARY AND AVON PUBLIC LIBRARY
IF YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS, PLEASE, IN ADVANCE OF THE MEETING,
CALL TOWN CLERK MIGUEL JAUREGUI CASANUEVA AT 970-748-4001 OR EMAIL MJAUREGUI@AVON.ORG WITH ANY SPECIAL REQUESTS
Finance Committee Meeting Minutes July 7, 2025 DRAFT Page 1 of 3
FINANCE COMMITTEE MEETING MINUTES
MONDAY, JULY 7, 2025
1. ROLL CALL
Present in Person: Committee members John Widerman, Lisa Post, Steve Coyer, Markian
Fedeschuk, Gregg Cooper, Cathy Krajicek and Rick Sudekum. Clark Rogers joined the meeting a
few minutes after the roll call at 12:08 p.m.
Present Virtually: Councilor Lindsay Hardy, Town Manager Eric Heil joined virtually at 12:20 p.m.
Absent: Councilor Kevin Hyatt Staff: Deputy Town Manager Patty McKenny, Chief Finance Officer Paul Redmond, Financial
Analyst Chase Simmons and Chief Administrative Officer Ineke de Jong as Secretary.
The meeting was called to order by CFO Paul Redmond at 12:01 p.m.
2. APPROVAL OF MAY 5TH, 2025 MINUTES
Committee member Lisa Post moved to approve the minutes. Committee member John Widerman
seconded that motion and it passed 4 to 0 with the 4 following committee members voting: John
Widerman, Lisa Post, Steve Coyer and Markian Fedeschuk. The 3 new members abstained from the
vote since they just joined the committee today.
3. PUBLIC COMMENT
There was no public comment.
4. NEW COMMITTEE MEMBERS: INTRODUCTION OF NEW FINANCE COMMITTEE MEMBERS (CFO PAUL
REDMOND)
Chief Finance Officer Paul Redmond welcomed three new members, Gregg Cooper, Rick
Sudekum III and Cathy Krajicek. The group went around the table for short introductions.
Committee Member Clark Rogers joined the meeting at 12:08 p.m.
5. PUBLIC HEARING: EARLY CHILDHOOD EDUCATION CENTER FUNDING AGREEMENT (CFO PAUL
REDMOND)
Chief Financial Officer Paul Redmond re-introduced the plans for the Early Childhood Education
Center which broke ground last month (June 2025). He recapped what the school will provide
and Avon’s contribution and Avon’s rights in return for those contributions.
The Avon DDA plan has rules for how projects are being done if they are financed by the DDA.
The Town offered $400K in funding for the build of this center, coming from Avon DDA funds
and paid out over a 2-year period. The Avon DDA and PZC must discuss and approve it. The
Finance committee has a public hearing today at this meeting to review the funding agreement
and as a next step this is going to the Town Council at the July 22 regular meeting to approve.
Some questions & comments raised by the committee:
Finance Committee Meeting Minutes July 7, 2025 DRAFT Page 2 of 3
(1) This seems like the right fit and a great fit for the Town
(2) This will serve many Avon community members and is planned at a great location.
Town Manager Eric Heil joined the meeting at 12:20 p.m.
There were no public comments.
Committee member Clark Rogers moved to approve the funding agreement. Committee
member Cathy Krajicek seconded that motion and it passed 8 to 0.
6. WORK SESSION: PRESENTATION ON 15 SUN ROAD (PAUL REDMOND, CHIEF FINANCE OFFICER)
Chief Finance Officer Paul Redmond presented plans for redevelopment at the 15 Sun Road
Site and said staff is currently going to RFP for a transportation study. Along with that, there will
be a design study as well as a fiscal analysis to follow up on the former two. He expressed that
while we are working in the early stages of this redevelopment, the Town learned that the 15
Sun Rd lot has come up for sale. The Town has decided to go under contract and purchase the
lot so that the Town has control over it when this is ready for redevelopment.
The Town has looked at different financing options to finance the purchase which are laid out in
the memo.
Because there is a lease in place for the Walgreens building on this site, the annual rent
payments and other income we can collect is estimated to be about $500K a year.
Some questions & comments raised by the committee:
(1) Is the Town going into the rental business?
(2) What happens if Walgreens wants to renew their lease in 2037? How would/could we
incentivize them to move elsewhere? Relocating them would come at a significant cost
but it could help accelerate the rest of the redevelopment.
(3) What happens if Walgreens want to close up shop before 2037? Staff confirmed they
would have to buy out the lease.
(4) It is no secret that Walgreens is going through some turmoil in their stores
(5) Would the Town take $1.5M from the general fund?
(6) The Town has an A+ bond rating. Would a reduction in reserves to finance this acquisition
jeopardize our A+ bond rating? Staff will follow up with Piper Sandler to look into that.
(7) Is the Town of Avon the best credit entity to make this purchase? Or would it be better for
the DDA to make this purchase and be the owner of this asset? This asset would be cash
neutral, should it be owned by DDA if the DDA’s creditworthiness is equal? Staff said they
will ask these questions but suspect that in order to get best interest rate, having the
Finance Committee Meeting Minutes July 7, 2025 DRAFT Page 3 of 3
Town back the loan is probably best, but the Town Manager and CFO will check with
Piper Sandler.
(8) Acquiring this site, is in line with Sun Road Redevelopment plan, but every step will be
expensive. There is a big financial cost to realize this project and create housing and a
regional transit hub.
(9) Are we having the land appraised? And will the appraisers run a scenario where
Walgreens does not renew their lease in 2037, what is the appraised value then. Staff will
ask that question.
(10) The scenario of the $5.5 M illion COP bonds, where the property can carry itself seems
like a great option.
(11) Did the Town look at 30yr COP’s in addition to the 20yr COP’s.
(12) What will happen with the USPS site and relocation of USPS. The Town met with them
last week and the postal service is aware of the redevelopment plans and the Town
growing in size and demands with the Village at Avon and actively pursuing community
housing so USPS will outgrow its current capacity in the future. A combination of those
two and others, may help advocate for a different location and possibly remote boxes.
The conversation with Town Staff has been encouraging and Town is speaking with the
right person to explore ideas and work collaboratively on future needs.
(13) A lot of good work has been done and ownership of this lot is worth a shot for the Town.
Committee Member Clark Rogers made a motion to support the purchase of the 15 Sun Road Lot.
Committee Member Rick Sudekum seconded that motion and it passed 8 to 0.
7. NEXT COMMITTEE MEETING DATE
Monday, September 8th at 12:00 p.m. Staff said we are about to start budget season and will look at
revenue projections for 2026 and other budget items for 2026.
8. ADJOURNMENT
Committee Chair John Widerman moved to adjourn the meeting. Committee member Lisa Post
seconded that motion and the meeting adjourned, the time was 12:54 p.m.
Respectfully Submitted by: Ineke de Jong, Chief Administrative Officer.
These minutes are action minutes and only a summary of the proceedings of the meeting. They are not intended to be
comprehensive or to include each statement, person speaking or to portray with complete accuracy.
970-748-4044 dstockdale@avon.org
TO: Honorable Mayor Tamra N. Underwood and Council Members FROM: Dean Stockdale, Senior Accountant
RE: Financial Report – August 2025 & September 2025 data
DATE: October 28th, 2025
SUMMARY: This report presents the revenues for sales, accommodations, tobacco and cigarette, and
short-term rental tax for August 2025 and the recreation fees, real estate transfer tax, and use tax for CH
revenues for September 2025.
BACKGROUND: The percentage variance, or comparative change is reflected in the analysis portion of
this report in respect to each individual section for August revenues in 2025 and September 2025. Tax
revenues are not budgeted on a monthly basis; however, for purposes of analysis, monthly budget
variances are based on a 3-year average of actual revenues.
REVENUE SUMMARY:
Tax Revenue Comparison – 2024 v 2025: All taxes except the Cigarette Tax are favorable for 2025
compared to 2024. Below is a table which reflects the dollar change and percentage variance. Total
revenue for 2025 is reflecting a favorable variance to 2024.
Adopted Budget 2025 v Actual 2025: All taxes except Sales Tax and STR Tax for CH reflect an
unfavorable variance over the 2025 budget. Rec Center revenue is favorable compared to the 2025
budget. Total revenue for 2025 is reflecting a favorable variance to the 2025 budget. Below is a table which
reflects the dollar change and percentage variance.
2024 v 2025 YTD REVENUE COMPARISON
2024 2025 Dollar Variance Percentage
Variance
Sales Tax $8,606,808.74 $8,807,191.89 $200,383.15 2.33%
Acc. Tax $1,542,308.60 $1,638,358.36 $96,049.76 6.23%
STR Tax for CH $696,608.19 $753,122.67 $56,514.48 8.11%
Tobacco Tax $217,620.74 $224,110.66 $6,489.92 2.98%
Cigarette Tax $160,635.54 $141,081.00 ($19,554.54) (12.17%)
Use Tax for CH $0.00 $234,553.93 $234,553.93 N/A
Rec Admissions $926,392.25 $932,676.75 $6,284.50 0.68%
Rec Program Fees $360,051.13 $382,663.64 $22,612.51 6.28%
TOTAL $12,510,425.19 $13,113,758.90 $603,333.71 4.82%
Page 2 of 11
REVENUE ANALYSIS:
Sales Tax: Revenues – August 2025: August sales tax revenues totaled $963,109. This is an increase of
$52,379 or 5.75% compared to August 2024 sales tax revenue of $910,730.
AUGUST 2024 v AUGUST 2025 SALES TAX COMPARISON BY INDUSTRY
August 2024 August 2025 Increase/Decrease
Home/Garden $86,302.07 $81,461.20 ($4,840.87)
Grocery/Specialty/Health $206,964.56 $221,979.26 $15,014.70
Sporting Goods Retail/Rental $50,334.95 $65,578.90 $15,243.95
Miscellaneous Retail $29,268.46 $24,122.24 ($5,146.22)
Accommodations $156,422.42 $151,575.77 ($4,846.65)
Restaurants/Bars $199,152.50 $195,888.76 ($3,263.74)
Other $9,445.99 $17,645.22 $8,199.23
Service Related $19,715.95 $23,991.85 $4,275.90
Liquor Stores $25,796.06 $23,086.19 ($2,709.87)
E-Commerce Retail $74,893.62 $77,362.88 $2,469.26
Manufacturing/Wholesale $11,245.43 $27,800.08 $16,554.65
Construction Related Services $32,186.65 $35,577.22 $3,390.57
Digital Media Suppliers/Sellers $6,965.01 $13,655.83 $6,690.82
Commercial/Industrial Equipment $879.95 $2,301.09 $1,421.14
Special Events $1,156.40 $1,082.57 ($73.83)
TOTAL $910,730.02 $963,109.06 $52,379.04
2025 REVENUE COMPARISON – BUDGET V ACTUAL
Budget Actual Dollar Variance Percentage
Variance
Sales Tax $8,558,789.54 $8,807,191.89 $248,402.35 2.90%
Acc. Tax $1,764,644.97 $1,638,358.36 ($126,286.61) (7.16%)
STR Tax for CH $718,638.57 $753,122.67 $34,484.10 4.80%
Tobacco Tax $244,348.83 $224,110.66 ($20,238.17) (8.28%)
Cigarette Tax $162,235.46 $141,081.00 ($21,154.46) (13.04%)
Use Tax for CH $375,000.00 $234,553.93 ($140,446.07) (37.45%)
Rec Admissions $832,627.82 $932,676.75 $100,048.93 12.02%
Rec Program Fees $347,384.67 $382,663.64 $35,278.97 10.16%
TOTAL $13,003,669.86 $13,113,758.90 $110,089.04 0.85%
Page 3 of 11
Sales Tax: July 2025 Budget v Actual Collections: August 2025 sales tax revenues totaled $963,109.
This is an increase of $47,521 over the August 2025 estimate of $915,58. This is 5.19% above the
adopted 2025 budget (based on a 3-year average).
AUGUST 2025 BUDGET v ACTUAL COLLECTIONS - SALES TAX
2025 Budget 2025 Actual Dollar Variance Percentage Variance
August $915,587.36 $963,109.06 $47,521.70 5.19%
Accommodation Tax: Revenues – August 2025: Accommodation tax revenues totaled $154,522 for the
month of August. This is a decrease of $4,627 or 2.91% compared to August 2024 accommodation tax
revenues, which totaled $159,149. Accommodation tax collections by industry type for August 2025
compared to August 2024 reported an increase for Hotel, while Vacation Rentals and Time Share were
down.
AUGUST 2024 v AUGUST 2025 ACCOMMODATION TAX COMPARISON BY INDUSTRY
August 2024 August 2025 Increase/(Decrease)
Timeshares $23,616.43 $18,487.17 ($5,129.26)
Hotels $67,379.36 $72,406.16 $5,026.80
Vacation Rentals $68,154.19 $63,628.85 ($4,525.34)
TOTAL $159,149.98 $154,522.18 ($4,627.80)
863,504.26 939,057.45 891,159.97 910,730.02 $963,109.06
8.75%
-5.10%
2.20%
5.75%
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
2021 2022 2023 2024 2025
2021-2025 August Sales Tax Revenue Trend
Page 4 of 11
August 2025 Budget v Actual Collections: August 2025 accommodation tax revenues totaled $154,522.
This is a decrease of $17,780 over the August 2025 estimates of $172,302. This is 10.32% below the
adopted 2025 budget (based on a 3-year average).
AUGUST 2025 BUDGET v ACTUAL COLLECTIONS - ACCOMMODATIONS TAX
2025 Budget 2025 Actual Dollar Variance Percentage Variance
August $172,302.31 $154,522.18 ($17,780.13) (10.32%)
Short Term Rental Tax for CH: Revenues – August 2025: STR Tax for Community Housing totaled
$69,256 for the month of August. This is a decrease of $822 or 1.17% compared to August 2024. The
Westin Hotel is classified as a hotel in our MuniRevs system, although they are zoned as residential.
AUGUST 2024 v AUGUST 2025 STR TAX FOR CH COMPARISON BY INDUSTRY
August 2024 August 2025 Increase/(Decrease)
Timeshares $11,808.22 $9,243.58 ($2,564.64)
Hotels $26,134.20 $30,308.73 $4,174.53
Vacation Rentals $32,136.32 $29,704.37 ($2,431.95)
TOTAL $70,078.74 $69,256.68 ($822.06)
186,774 175,378 157,269 159,150 154,522
-6.10%
-10.33%
1.20%
-2.91%
$0
$25,000
$50,000
$75,000
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
$250,000
$275,000
2021 2022 2023 2024 2025
2021-2025 August Accommodation Tax Revenue
Trend
Page 5 of 11
Tobacco & Cigarette Tax: Revenues – August 2025: Tobacco tax revenues totaled $30,003 and
cigarette tax revenues totaled $18,393 for August 2025. Compared to August 2024 revenues, this is an
increase of $4,059 for tobacco tax revenues, which totaled $25,944 and a decrease of $3,74 for cigarette
tax revenues, which totaled $21,864.
26,253 32,754 38,240 25,944 30,004
24.76%
16.75%
-32.15%
15.65%
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
2021 2022 2023 2024 2025
2021-2025 August Tobacco Tax Revenue Trend
23,967 24,503 26,745 21,864 18,393
2.24%9.15%
-18.25%
-15.88%
-
5,000
10,000
15,000
20,000
25,000
30,000
2021 2022 2023 2024 2025
2021-2025 August Cigarette Excise Tax Revenue
Trend
Page 6 of 11
August 2025 Adopted Budget v Actual Collections: August 2025 tobacco and cigarette tax revenues
totaled $30,003 and $18,393, respectively. This is a decrease of $3,626 over the August 2025 budget for
tobacco tax, which is $33,630 and a decrease of $5,718 over the August 2025 budget for cigarette tax
estimates, which is $24,111 which is based on a 3-year average.
AUGUST 2025 BUDGET v ACTUAL COLLECTIONS - TOBACCO AND CIGARETTE TAX REVENUES
2025 Budget 2025 Actual Dollar Variance Percentage
Variance
Tobacco $33,630.07 $30,003.72 ($3,626.35) (10.78%)
Cigarettes $24,111.60 $18,393.00 ($5,718.60) (23.72%)
Total ($9,344.95)
Use Tax for Community Housing: Revenues – September 2025: There was no September 2025 use
tax for community housing.
AUGUST 2025 BUDGET v ACTUAL COLLECTIONS – USE TAX REVENUES
2025 Budget 2025 Actual Dollar Variance Percentage
Variance
Use Tax for CH $41,666.67 $0.00 ($41,666.67) (100.00%)
Page 7 of 11
Real Estate Transfer Tax: Revenues – September 2025: September 2025 real estate transfer tax
totaled $284,243. Compared to September 2024, which totaled $821,720, this is a decrease of $537,477.
This is a decrease of $82,169 over the September 2025 budget which was based on a 3-year average.
2025 BUDGET v ACTUAL COLLECTIONS – REAL ESTATE TRANSFER TAX REVENUES
2025 Budget 2025 Actual Dollar Variance Percentage
Variance
Real Estate Transfer Tax $366,413.27 $284,243.32 ($82,169.95) (22.43%)
$573,822 $218,696 $387,859 $821,721 $284,243
-61.89%
77.35%
111.86%
-65.41%
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
2021 2022 2023 2024 2025
Real Estate Transfer Tax September Revenue
Trends
Page 8 of 11
Recreation Center Fees: Revenues – September 2025 Admissions & Program Fees: Recreation
admission revenues for September 2025 totaled $83,348 is an increase of $6,547 compared to September
2024 which totaled $76,801. This is $13,199 above the adopted 2025 budget estimates of $70,149.
Recreation program fee revenues for September 2025 totaled $32,543. This is a decrease of $6,598
compared to 2024, which totaled $39,141. This is $7,000 below the adopted 2025 budget estimates of
$39,544, which is calculated based on a 3-year average.
62,217 67,541 72,093 76,801 83,349
8.56%6.74%6.53%
8.53%
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
2021 2022 2023 2024 2025
Recreation Admissions September Revenue
Trends
$28,029 $38,196 $33,070 $39,142 $32,544
36.27%
-13.42%
18.36%
-16.86%
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
2021 2022 2023 2024 2025
Recreation Program Fees September Revenue
Trends
Page 9 of 11
Real Estate Transfer Tax: Revenues 2025
2025 BUDGET/PRIOR YEAR v ACTUAL COLLECTIONS – REAL ESTATE TRANSFER TAX REVENUES
2025 Budget 2025 Actual Dollar Variance Percentage
Variance
Real Estate Transfer Tax $3,337,155.51 $2,751,928.45 ($585,227.06) (17.54%)
2024 Actual 2025 Actual Dollar Variance Percentage
Variance
Real Estate Transfer Tax $5,340,187.76 $2,751,928.45 ($2,588,259.31) (48.47%)
New and Renewed Business and STR Licenses – 2024 v 2025: The total number of 2025 business
licenses issued through September was 836. This was down 34 licenses or 3.9% for the year to date. The
total number of STR licenses issued through September was 147. Compared to 2024 the STR licenses
were up 25 licenses or 20.5% for the year to date.
2024 v 2025 – BUSINESS AND STR LICENSES – YEAR TO DATE
2024 2025 License
Variance
Percentage
Variance
Business License - Vendor 636 615 (21) (3.3%)
Business License – Fixed Location 155 158 3 1.9%
Business License – Home Occupation 49 38 (11) (22.4%)
Business License – Special Event 30 25 (5) (16.7%)
TOTAL BUSINESS LICENSES 870 836 (34) (3.9%)
STR License 122 147 25 20.5%
Page 10 of 11
-
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
Business License - Vendor Business License - Fixed
Location
Business License - Home
Occupation
Business License - Special
Event
Business Licenses Issued 1/1 -9/30
2023 2024 2025
0
20
40
60
80
100
120
140
160
STR License
STR Licenses Issued 1/1 -9/30
2022 2023 2024
Page 11 of 11
EXPENDITURES: SEPTEMBER 2025
General Fund YTD Actuals v 2025 Budget: General Fund expenditures through September 2025 total
$17,832,706 which is 67.78% of the total adopted budget. These expenditures include all wages, health
benefits, events, computer services, operating cost, legal services, and utilities.
Mobility Fund YTD Actuals v 2025 Budget: Mobility Fund expenditures through September 2025 total
$1,802,555 which is 63.64% of the total adopted budget. These expenditures include the cost for wages,
health benefits, consulting services, and utilities.
Fleet Maintenance YTD Actuals v 2025 Budget: Fleet Maintenance expenditures through September
2025 total $1,741,657 which is 77.27% of the total adopted budget. These expenditures include wages,
health benefits, fuel, vehicle maintenance, utilities, equipment, and operating supplies.
Capital Projects Fund YTD Actuals v 2025 Budget: The Capital Improvement expenditures through
September 2025 total $5,738,665 which is 52.58% of the total adopted budget. These expenditures were
made up of primarily the Public Works garage and Recycling Center project.
Thank you,
Dean
970.748.4088 predmond@avon.org
TO: Finance Committee Members
FROM: Paul Redmond, Chief Financial Officer
RE: 2026 Proposed Budget
DATE: October 28, 2025
SUMMARY: The 2026 budget was presented to Avon Town Council and the Avon community at the
October 21, 2025 Budget Retreat. The focus of this budget retreat was to review all Funds for the Town
and changes from 2025 to 2026. The budget is structured to meet the goals, priorities and directives of
Council on behalf of the Avon community.
Overall, Avon’s finances are healthy, and the budget supports basic year-to-year operations. Budget
challenges for 2026 are primarily a flattening of sales and accommodations tax revenues and the response
to present equally flat changes in expenses. Expenses increase year to year even without any additions to
Staff, programs or projects because (1) there are reoccurring supply and equipment costs which increase
by inflation, (2) personnel costs increase to remain competitive and support retention to avoid the high cost
of employee turn-over and (3) health care costs continue to increase at a rate that is 2-4 times the rate of
inflation. Staff have managed departmental expenses conservatively to preserve current staffing and
service levels while delivering a balanced budget.
Conservative budgeting practices have kept fund balances strong. The CIP Fund includes many projects,
and we continue to prioritize and adjust capital improvement projects to balance our financial resources
with realistic schedules and reasonable workloads.
2026 BUDGET: Every year a budget is presented to Council which balances the projected operating
revenues for the next year with projected operating expenses. Staff budgeted both revenues and expenses
conservatively. Actual revenues usually come in higher than budgeted. Expenses are budgeted for 100%
employment for all positions throughout the year; however, Avon is never 100% staffed so we typically
realize some personnel savings. These conservative budgeting practices and year end savings illustrate
the fiscal responsibility of Avon.
After the Budget Retreat the General Fund shows a deficit for 2026 of $42,500. Council approved several
contributions to our Community Partners, leading to this shortfall. Contributions include donations to the
Rodeo Ice Rink and Tree Top Advocacy Center. Avon maintains fiscal stability and ensures that resources
are available for essential services. Avon’s reserves have increased dramatically over the last several
years largely due to the conservative budgeting approach and the post pandemic demand, increasing sales
tax revenues.
From reserves, Council may approve additional expenditures from the unrestricted reserves whenever it
deems them beneficial and appropriate for the Avon community. We recommend that use of unrestricted
general fund reserves may be appropriate to maintain existing staffing levels through temporary downturns
or for one-time expenditures that are not re-occurring every year.
REVENUE PROJECTIONS: Revenue projections were presented to Council at the September 23rd
meeting. The projections are modest and conservative as revenues normalize post COVID. Inflation is
moving closer to the Federal Reserve’s target rate of 2%. Considering a more normalized economy sales
tax projections are consistent with current year budget. However, the slight increase in sales tax projections
is driven by new ACE Hardware and Phase II of Frontgate reaching full occupancy.
Page 2 of 3
Economic Development: We believe it is timely to raise the topic of considering proactive strategies to
improve Avon’s economy. A flat revenue budget is not sustainable, and we do not foresee any economic
growth on the horizon for the next several years. The most readily available economic growth is basic
“heads in beds” or seeking to boost occupancy rates at our Avon lodges. Specific near term activities
include: (1) rejoining Destimetrics to have more lodging data (occupancy, room rates, booking forecasts),
(2) increased marketing and shifting from “Avon’s Community Values” to “Come Visit Avon”, and (3)
exploring a potential spring and fall 3 day bluegrass festival projected to bring in 5,000 to 6,000 people
when our occupancy rates are low.
Rejoining Destrimetrics = $35,000
Increase Marketing = $50,000
Host Three Day Ticketed Festival = breakeven at 4,000 tickets
PERSONNEL GROWTH COST: "The overall personnel budget has grown as the number of full-time
positions has risen in recent years, and competitive salary increases have been implemented to support
recruitment and retention. The year-over-year increase reflects the addition of staff to maintain core
governmental services and expand focus on events, sustainability, community housing, and parking
management. The local labor market is highly competitive because many employers compete for the same
labor pool, and high housing costs create a significant barrier to successfully recruiting out-of-county
employees.
Avon is budgeting for a merit increase pool of 3% of the overall personnel salary expenses, which is down
from 4% in 2025. The reduction of the merit increase pool is due to a decrease in inflation. The draft
budget includes salary increase pool of 3% of overall personnel salary expense for the second half of 2026.
In summary, next year’s staffing remains similar to 2025.
CAPITAL IMPROVEMENT PROJECTS AND LONG-RANGE PLAN: The Capital Projects Fund balance
for the next five years is healthy with at least $1 million. Avon’s policy is to keep a minimum $1 million in
the CIP fund balance. The General Fund unrestricted reserves are also considered as sources of funds for
payments on capital improvements. The Town’s need for capital improvements will include several new
projects as well as an established and robust schedule for the maintenance of existing facilities and
roads/streets infrastructure, transitioning fleet purchases from lease purchase arrangements to cash
purchases and improvements to town owned parks.
COMMUNITY HOUSING FUND: Avon voters approved a 2% short-term rental tax in November, 2021.
Revenues are projected to increase to $1,013,112 in the 2026 Budget. The 1.2% increase stems primarily
from issuing short-term licenses following the completion of the Frontgate and One Riverfront buildings.
Several of the local Short-Term rental companies based in Avon are increasing their marketing campaigns
to increase visitors to the Avon and Beaver Creek area. These revenues are dedicated to community housing
projects and staff is reviewing several future projects. Avon will continue to fund the Mi Casa/Good Deeds
and MEHOP programs in 2026 by approximately $2.4 million.
WATER FUND: The Water Fund collects revenues which are restricted to water related projects and
expenses. Revenues are generated by a $4,000 per Single Family Equivalent (SFE) water tap fee and a
$3.25/SFE/month fee on the water bill. Expenditures in the Water Fund include engineering and construction
Page 3 of 3
of projects, water attorney fees and irrigation ditch maintenance. The water surcharges coming into the
Water Fund are consistent each year. Water Fund revenues in 2026 remain flat as we continue to receive
the water surcharges. New in 2025, Avon began collecting our own water tap fees. These are charged at
the same time as building permits. In the past, Eagle River Water and Sanitation District collected these fees
when they collected their District’s tap fees.
FLEET MAINTENANCE FUND: The Fleet Maintenance Fund operates as an enterprise, accounting for
services financed and managed like private businesses. It recovers costs through user charges for services
provided to Town departments, other government agencies, and up to 10% private clients. When
appropriate, Avon may allocate general tax revenues to the Fleet Maintenance Fund to help ensure a positive
annual net income. The Fleet labor billing rates increased by 7% in 2025. The rates will remain the same in
2026.
OTHER FUNDS: The Town’s other funds are established to segregate revenues from specific sources for
specific purposes, including the Community Enhancement Fund and Exterior Energy Offset Fund are all
projected to remain flat in with no increase in 2026. After reducing the Disposable Paper Bag Fee in 2024
we are projecting this fund to increase by $10,000 in 2026. In 2026, the Disposable Paper Bag Fee will fund
the Town Cleanup on a different day than the Sustainability Fair.
Thank you, Paul
ATTACHMENTS:
Attachment A: Fund Summaries
3%/3%
Original Budget Proposed
Actual Budget Amendment Budget
2024 2025 2025 2026
REVENUES
Taxes 20,871,834 21,040,289$ 21,040,289$ 21,657,039$
Licenses and Permits 1,251,817 459,175 459,175 477,250
Intergovernmental 1,395,585 1,532,455 1,532,455 1,481,843
Charges for Services 2,674,191 2,090,036 2,081,896 2,338,636
Fines and Forfeitures 86,854 52,200 52,200 187,200
Investment Earnings 2,032,253 1,500,000 1,500,000 1,500,000
Other Revenue 484,990 481,000 481,000 958,462
Total Operating Revenues 28,797,524 27,155,155 27,222,015 28,600,430
Other Sources
Transfer-In From Capital Projects Fund & Equipment Replacement 618,487 657,747 657,747 722,998
Total Other Sources 618,487 657,747 657,747 722,998
TOTAL REVENUES 29,416,011$ 27,812,902$ 27,879,762$ 29,323,428$
EXPENDITURES
General Government, HR and Finance 7,514,717$ 7,564,478$ 7,571,595$ 7,816,391$
Community Development 1,202,610 996,414 997,914 1,041,680
Public Safety 6,341,901 6,421,938 6,429,022 6,763,994
Public Works 7,095,452 8,374,150 8,480,027 8,312,848
Recreation 2,707,394 3,205,344 3,205,344 3,428,262
Capital Expenditure from Unreserved Fund Balance 2,690,000 800,000 2,200,000 -
Total Operating Expenditures 27,552,074 27,362,324 29,057,726 27,363,174
Other Uses
Transfers-Out to Debt Service - - - 502,502
Transfers-Out to Mobility Fund 1,500,000 1,500,000 1,500,000 1,500,000
Transfers-Out to Capital Projects Fund (Rec Pool) - - - 2,500,000
Transfers-Out to Fleet Maintenance Fund 155,000 - - -
Total Other Uses 1,655,000 1,500,000 1,500,000 4,502,502
TOTAL EXPENDITURES 29,207,074 28,862,324 30,557,726 31,865,676
NET SOURCE (USE) OF FUNDS 208,937 (1,049,422) (2,677,964) (2,542,248)
FUND BALANCES, Beginning of Year 21,941,899 19,210,754 22,150,836 19,472,872
FUND BALANCES, End of Year 22,150,836$ 18,161,332$ 19,472,872$ 16,930,624$
FUND BALANCES:
Restricted For:
3% TABOR Emergency Reserve 980,080$ 865,870$ 916,732$ 865,895$
Unassigned:
22% Minimum Reserve Balance 6,425,556 6,349,711 6,722,700 6,349,898
Undesignated, Unreserved 14,745,200 10,945,751 11,833,440 9,714,830
TOTAL FUND BALANCES 22,150,836$ 18,161,332$ 19,472,872$ 16,930,624$
Fund Summary
MUNICIPAL SERVICES
General Fund #10
Original Budget Proposed
Actual Budget Amendment Budget
Description 2024 2025 2025 2026
Taxes:
General Property Tax 2,967,810$ $2,908,568 $2,908,568 3,165,318$
General Property Tax - Delinquencies - 500 500 500
General Property Tax - Interest 3,616 1,900 1,900 1,900
General Property Tax - Abatements 3,534 - - -
Specific Ownership Tax 161,888 130,000 130,000 130,000
Sales Tax 13,173,452 13,145,818 13,145,818 13,505,818
Utility Tax 113,191 130,000 130,000 130,000
Accommodation Tax 2,230,500 2,458,503 2,458,503 2,458,503
Penalties and Interest 78,857 50,000 50,000 50,000
Sales Tax Audit Assessments 36,287 50,000 50,000 50,000
VAA Retail Sales Fee 1,083,164 1,100,000 1,100,000 1,100,000
Cigarette Excise Tax 239,593 245,000 245,000 245,000
Tobacco Add-on Sales Tax 314,547 360,000 360,000 360,000
Franchise Fees 465,395 460,000 460,000 460,000
Total Taxes 20,871,834 21,040,289 21,040,289 21,657,039
Licenses and Permits:
Liquor Licenses 6,701 7,500 7,500 7,500
Business Licenses 262,105 185,000 185,000 200,000
Contractor's Licenses 29,105 18,625 18,625 20,000
Tobacco/Cigarette Licenses 2,750 1,750 1,750 1,750
Booting/Towing Licenses 450 600 600 600
Building Permits 866,729 225,000 225,000 225,000
Road Cut Permits 83,253 20,000 20,000 20,000
Mobile Vendor Cart Permits 724 700 700 2,400
Total Licenses and Permits 1,251,817 459,175 459,175 477,250
Intergovernmental:
Federal Grants:
Click It or Ticket - - - -
Ballistic Vests Grant 2,166 2,000 2,000 2,000
State Grants -
LEAF Grant - 12,500 12,500 12,500
High Visibility Grant 37,975 20,000 20,000 25,000
POST I70 Training Grants 25,912 45,000 45,000 45,000
DOLA Grants - 100,000 100,000 -
Avon's Best and Brightest - 25,000 25,000 25,000
Other State Grants 89,848 100,000 100,000 100,000
Local Government/Other Agency
Other Local Grants - - - -
Revenue Detail
MUNICIPAL SERVICES
General Fund
Original Budget Proposed
Actual Budget Amendment Budget
Description 2024 2025 2025 2026
Revenue Detail
MUNICIPAL SERVICES
General Fund
State/County Shared Revenue:
Conservation Trust 73,445 80,000 80,000 80,000
Motor Vehicle Registration 24,597 26,000 26,000 26,000
Highway User's Tax 223,046 191,805 191,805 236,158
County Sales Tax 691,413 746,750 746,750 746,785
Road & Bridge Fund 219,202 175,000 175,000 175,000
State Severance Tax 509 2,400 2,400 2,400
Retail Delivery Fee 7,472 6,000 6,000 6,000
Total Intergovernmental 1,395,585 1,532,455 1,532,455 1,481,843
Charges for Services:
General Government:
Photocopying Charges - - - -
License Hearing Fees - - - -
Other Fees and Charges 1,266 2,500 2,500 2,500
Credit Card and Paper Filing Fees 3,827 2,500 2,500 2,500
Community Development:
Plan Check Fees 556,653 150,000 150,000 150,000
Design Review Fees 28,684 45,000 45,000 170,000
Animal Control Fees - - - -
Fire Impact Fee Administration Fees 8,100 2,500 2,500 2,500
Public Safety:
Police Reports 616 1,000 1,000 1,000
Police Extra Duty 33,676 27,500 27,500 40,000
Fingerprinting Fees 650 750 750 750
VIN Inspection Fees 2,625 2,000 2,000 2,000
False Alarm Fees/Misc Police Dept Fees 20 75 75 75
DUI Reimbursement 12,556 15,000 15,000 15,000
Avon Recreation Center:
Admission Fees 1,431,786 1,254,000 1,254,000 1,350,000
Program Fees 31,900 33,000 33,000 30,000
Facility Rentals 22,555 22,000 22,000 22,000
Merchandise Sales 7,642 9,000 9,000 9,000
Other Recreation Services 8,972 8,800 8,800 8,800
Fitness Program Revenues 43,072 42,000 42,000 42,000
Swim Team Revenue 52,299 52,800 52,800 52,800
Private Lessons 23,344 27,500 27,500 20,000
Avon Rec CTR Gift Cards - 1,000 1,000 500
Original Budget Proposed
Actual Budget Amendment Budget
Description 2024 2025 2025 2026
Revenue Detail
MUNICIPAL SERVICES
General Fund
General Recreation:
Adult Program Revenues 34,407 27,500 27,500 34,000
Cabin Equipment Rentals 34,902 35,000 35,000 35,000
Athletic Field Rentals 840 240 240 240
Cabin Concessions 72 500 500 500
Youth Program Revenues 199,902 180,000 180,000 200,000
Special Events:
Consession Sales 92,941 94,131 94,131 94,131
Sponsorships 9,000 10,000 10,000 10,000
Event Fees 26,630 36,600 35,100 36,200
Special Event Admission Fees 982 500 500 500
Pavillion Rentals 4,272 6,640 - 6,640
Total Charges for Services 2,674,191 2,090,036 2,081,896 2,338,636
Fines and Forfeitures:
Court Fines - Traffic 41,084 23,000 23,000 158,000
Court Fines - Criminal 32,950 20,000 20,000 20,000
Court Fines - Parking 3,390 3,000 3,000 3,000
Court Costs 4,955 3,000 3,000 3,000
Jury Fees - 100 100 100
Bond Forfeitures - 100 100 100
Police Training Surcharge 4,475 3,000 3,000 3,000
Total Fines and Forfeitures 86,854 52,200 52,200 187,200
Investment Earnings:2,032,253 1,500,000 1,500,000 1,500,000
Other Revenues:
Recreational Amenity Fees 351,745 345,000 345,000 345,000
Lease of Town-Owned Property 4,650 3,500 3,500 414,462
Restituion and Insurance Reimbursemnet 16,769 - - 20,000
Parking Revenue 10,474 7,500 7,500 12,000
Miscellaneous Reimbursemnets 29,910 - - 30,000
Miscellaneous Nonclassified Revenues 71,442 125,000 125,000 137,000
Total Other Revenues 484,990 481,000 481,000 958,462
TOTAL REVENUES 28,797,524$ 27,155,155$ 27,147,015$ 28,600,430$
Original Budget Proposed
Actual Budget Amendment Budget
Description 2024 2025 2025 2026
General Government:
Mayor and Town Council 280,782$ $280,813 $280,813 275,997$
Town Attorney 322,713 272,020 272,020 272,020
Town Clerk 169,121 202,971 202,971 200,033
Municipal Court 203,432 197,996 197,996 200,617
Administrative Services 900,077 964,370 964,370 999,090
Community Relations 374,510 363,493 363,493 369,560
Economic Development 351,638 215,430 215,430 373,232
Special Events 1,320,326 1,510,463 1,517,580 1,390,007
Community Grants 120,000 108,000 108,000 108,000
Sustainability 212,603 268,272 268,272 216,162
Subtotal General Government 4,255,202 4,383,828 4,390,945 4,404,718
Human Resources:
Human Resources 800,835 770,739 770,739 806,984
Finance and Information Technology:
Finance 1,090,137 1,156,096 1,156,096 1,212,330
Information Systems 844,995 835,354 835,354 860,588
Nondepartmental 523,548 418,461 418,461 531,771
Subtotal Finance and IT 2,458,680 2,409,911 2,409,911 2,604,689
Total General Government, HR and Finance 7,514,717 7,564,478 7,571,595 7,816,391
Community Development:
Planning and Zoning Commission 12,368 14,425 14,425 16,400
Planning 860,329 639,767 641,267 674,531
Building Inspection 329,913 342,222 342,222 350,749
Total Community Development 1,202,610 996,414 997,914 1,041,680
. . . .
Police Department:
Administration 1,195,160 1,289,337 1,289,337 1,281,833
Patrol 4,259,558 4,259,000 4,266,084 4,769,038
Investigations 552,116 616,124 616,124 407,044
Code Enforcement 335,067 257,477 257,477 306,079
Total Police Department 6,341,901 6,421,938 6,429,022 6,763,994
Department Expenditure Summaries
MUNICIPAL SERVICES
General Fund
Original Budget Proposed
Actual Budget Amendment Budget
Description 2024 2025 2025 2026
Department Expenditure Summaries
MUNICIPAL SERVICES
General Fund
Public Operations:
Administration 440,676 511,668 511,668 410,482
Engineering 396,536 678,199 678,199 889,192
Roads and Bridges 3,333,366 3,844,058 3,844,058 3,893,818
Parks 826,326 1,034,211 1,032,711 885,824
Buildings and Facilities 2,098,548 2,306,014 2,413,391 2,233,532
Total Public Works Department 7,095,452 8,374,150 8,480,027 8,312,848
Recreation Department:
Administration 300,111 348,556 348,556 341,780
Adult Programs 53,283 91,150 91,150 114,111
Aquatics 1,002,906 1,044,788 1,044,788 1,154,516
Fitness 274,446 361,592 361,592 331,110
Guest Services 572,015 719,904 719,904 810,682
Youth Programs 247,724 309,342 309,342 352,657
Communtiy Swim Program 256,908 330,012 330,012 323,405
Total Recreation 2,707,393 3,205,344 3,205,344 3,428,262
TOTAL OPERATING EXPENDITURES 24,862,073$ 26,562,324$ 26,683,902$ 27,363,174$
Final
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
SEE FUND SUMMARY
EXPENDITURES BY CATEGORY
The Urban Renewal Fund's main source of funding is property tax increment revenues for Urban Renewal
Plan areas within the Town. The Town Center West Urban Renewal Plan Area was created in 2007, and
is the only urban renewal plan area within Avon. The plan area has a 25-year life for tax increment
financing. Property tax increment revenues for 2025 are based upon a preliminary increment of
$50,287,670 and a mill rate of 56.56.
BUDGET SUMMARY: AVON URBAN RENEWAL FUND
ADMINISTRATION OF THE FUND
The Avon Urban Renewal Fund is administered by the AURA Treasurer / Town of Avon Chief Finance
Officer.
FINANCIAL SUMMARY
Fund Summary
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Taxes 2,475,396$ 2,912,197$ 2,912,197$ 2,983,325$
Investment Earnings 2,552 - - -
TOTAL REVENUES 2,477,948 2,912,197 2,912,197 2,983,325
EXPENDITURES
Current:
General Government - 1,000 1,000 1,000
Treasurer Fees 74,076 102,000 102,000 89,500
Debt Service:
Principal 648,867 664,728 664,728 679,761
Interest 99,843 84,466 84,466 68,705
Fiscal Charges 400 1,000 1,000 1,000
Total Operating Expenditures 823,186 853,194 853,194 839,966
Other Uses
Transfers Out - Capital Projects Fund 1,750,000 1,750,000 1,750,000 1,750,000
TOTAL EXPENDITURES 2,573,186 2,603,194 2,603,194 2,589,966
NET SOURCE (USE) OF FUNDS (95,238) 309,003 309,003 393,359
FUND BALANCES, Beginning of Year 285,495 285,495 190,257 499,260
FUND BALANCES, End of Year 190,257$ 594,498$ 499,260$ 892,619$
AVON URBAN RENEWAL AUTHORITY #22
Summary
Debt Service Summary
Final
Original Revised Proposed
Account Actual Budget Budget Budget
Number Description 2024 2025 2025 2026
DEBT SERVICE
932 Series 2013, Tax Increment Revenue Bonds
65101 Principal -$ -$ -$ -$
65102 Interest - - - -
65103 Fiscal Agent Fees - - - -
65108 Arbitrage Compliance Fees - - - -
933 Series 2017, Tax Increment Revenue Bonds
65101 Principal 197,867 203,728 203,728 209,761
65102 Interest 50,215 44,355 44,355 38,321
65103 Fiscal Agent Fees 500 500 500 500
65108 Arbitrage Compliance Fees - - - -
934 Series 2020, Tax Increment Revenue Bonds
65101 Principal 451,000 461,000 461,000 470,000
65102 Interest 49,627 40,111 40,111 30,384
65103 Fiscal Agent Fees 500 500 500 500
65108 Arbitrage Compliance Fees - - - -
60000 TOTAL DEBT SERVICE 749,709$ 750,194$ 750,194$ 749,466$
AVON URBAN RENEWAL AUTHORITY
Debt Service
Final
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026EXPENDITURES BY CATEGORY
SEE FUND SUMMARY
The Community Enhancement Fund (CEF) originates from the Franchise Agreement the Town of Avon
has with Holy Cross Energy to sell electricity to the Town. One percent (1%) of the revenue generated by
Holy Cross Energy in the Town of Avon is placed in the Community Enhancement Fund and is restricted to
the following uses: beautification projects, energy conservation projects, equipment and technology
upgrades for schools, scholarship funds, acquisition of open space and/or park land and development,
sponsorship of special community events, and undergrounding of overhead electric and other utility lines.
Recently added to the list are distributed generation and alternative energy projects.
The CEF generates approximately $90,000/year and at the end of 2025 there is estimated be $32,078
available in the CEF Fund Balance.
BUDGET SUMMARY: COMMUNITY ENHANCEMENT FUND
ADMINISTRATION OF THE FUND
The Town Engineer administers the Community Enhancement Fund.
FINANCIAL SUMMARY
Fund Summary
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Other Revenue:
Community Enhancement Fees 88,478$ 90,000$ 90,000$ 90,000$
Total Operating Revenues 88,478 90,000 90,000 90,000
Other Sources
Transfers In - General Fund - - - -
TOTAL REVENUES 88,478 90,000 90,000 90,000
EXPENDITURES
Public Works:
Community Enhancement 14,277 20,000 20,000 20,000
Total Operating Expenditures 14,277 20,000 20,000 20,000
Other Uses
Transfers Out - Capital Projects Fund 100,000 361,000 361,000 -
TOTAL EXPENDITURES 114,277 381,000 381,000 20,000
NET SOURCE (USE) OF FUNDS (25,799) (291,000) (291,000) 70,000
FUND BALANCES, Beginning of Year 348,877 319,774 323,078 32,078
FUND BALANCES, End of Year 323,078$ 28,774$ 32,078$ 102,078$
FUND BALANCES:
Restricted For:
Community Enhancement Projects 323,078$ 28,774$ 32,078$ 102,078$
TOTAL FUND BALANCES 323,078$ 28,774$ 32,078$ 102,078$
MUNICIPAL SERVICES
Community Enhancement Fund #23
Revenue Detail
Final
Original Revised Proposed
Account Actual Budget Budget Budget
Number Description 2024 2025 2025 2026
Other Revenues:
58106 Community Enhancement Fees 88,478$ 90,000$ 90,000$ 90,000$
58000 Total Other Revenues 88,478 90,000 90,000 90,000
Other Sources:
59201 Transfers In - General Fund - - - -
59000 Total Other Sources - - - -
50000 TOTAL REVENUES 88,478$ 90,000$ 90,000$ 90,000$
MUNICIPAL SERVICES
Community Enhancement Fund #23
Section II, Page 8
EXHIBIT B
COMMUNITY ENHANCEMENT FUND HISTORY
Original Revised
Calendar Amount Budget Budget Actual Ending
Year Received Budget Request Amount Amount Expenditure Balance
2001 1 4,000$ -$ -$ -$ 4,000$
2001 1 32,356 - - - 36,356
2002 1 42,824 - - - 79,180
2003 1 44,766 - - - 123,946
2004 1 50,664 - - - 174,610
2005 1 60,699 - - - 235,309
2006 64,133 - - - 299,442
Purchase of Wind Power 60,000 - -
2007 2 62,907 Energy Audit - 28,000 26,252 336,097
Whitewater Rodeo 36,000 36,000 36,000
LED Holiday Lighting 10,800 10,800 10,800
2008 74,585 Appraisal for Open Space 15,000 15,000 15,000 348,882
Fleet Maintenance Lighting 20,000 20,000 20,000
Ironkids 30,000 30,000 30,000
2009 70,136 LED Holiday Lighting 10,000 10,000 10,000 359,018
Avon Rec Center Lighting 40,000 29,000 29,000
Ironkids 20,000 20,000 20,000
Nottingham Park Pavilion 3 200,000 40,000 40,000
2010 71,067 Fishing Pier 20,000 20,000 20,000 321,085
Ironkids 10,000 10,000 10,000
World Alpine Championships 50,000 - -
2011 74,383 Undergrounding 4 100,000 - - 385,468
2012 72,862 Mall Improvement Project 5 250,000 - -
Undergrounding 4 100,000 - - 458,330
2013 84,398 Heat Recovery Expansion 6 350,000 - - 542,728
2014 78,268 Nottingham Park Restrooms 275,000 - -
Avon Mall Improvement - 608,000 608,000 12,996
2015 77,473 Nothing Budgeted - - - 90,469
2016 71,736 Undergrounding 100,000 - - 62,205
2017 78,545 Undergrounding 158,000 142,000 140,750 -
2018 83,009 Undergrounding 80,000 80,000 - 83,009
2019 83,072 Nothing Budgeted - - - 166,081
2020 81,392 Dancing in the Park - 30,000 - 247,473
Page 1
EXHIBIT B
COMMUNITY ENHANCEMENT FUND HISTORY
2021 82,448 Undergrounding 120,000 - - 329,921
W. Avon Preserve 28,500 28,500 28,500 301,421
Dancing in the Park 30,000 - - 301,421
2022 87,665 Undergrounding 120,000 - - 389,086
Building Electrification Conference 16,000 - 11,312 377,774
2023 91,103 Undergrounding 120,000 - 120,000 348,877
Building Electrification Conference - - - 348,877
2024 88,478 Undergrounding 100,000 - 100,000 337,355
Building Electrification Conference 20,000 - 14,277 323,078
2025 90,000 Undergrounding 361,000 - 361,000 52,078
Building Electrification Conference 20,000 - 17,390 34,689
2026 90,000 Undergrounding - - - 124,689
Building Electrification Conference 20,000 - - 104,689
Notes:
6) The original proposal to extend the Town's Heat Recovery system along the length of the Mall and connect with the
Wyndham and Avon Station was re-evaluated during the process for approving the Wyndham development on Lot 61.
1) Amounts received from 2001-2005 were accounted for in the General Fund. In 2006 a separate fund was established for
the Community Enhancement monies. A transfer from the General Fund in the amount of $235,309 was made to establish
the new Community Enhancement Fund. Because of an oversight, the amount transferred was $2,000 more than the actual
amounts received from 2001 -2005.
2) In 2007, the Town budgeted $60,000 for purchasing wind power. It was subsequently learned that the use of Community
Enhancement funds was not allowed for this purpose. Subsequently, $26,252 was used for an energy audit of the Town's
facilities.
3) The Nottingham Park Pavilion project for which Community Enhancment funds were approved in the amount of $200,000,
was subsequently removed from the Town's long-range CIP program due to the cost of the project and lack of Town funds
available. A total of $40,000 in Community Enhancement funds was used for the design cost, with the remained turned back
as unused.
4) The US Hwy 6 Trail undergrounding project has been delayed due to high project costs related to the Eagle Valley Trails
projects.
5) The Mall Improvement Project was delayed due to the impending development of Lot 61.
Page 2
Final
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
Personnel Services 35,283$ 75,934$ 75,934$ 44,461$
Commodities - - - -
Contract Services 10,474 41,000 41,000 51,369
Other Operating Costs 31,500 31,500 31,500 31,500
Capital Outlay - 4,000 4,000 4,000
Total 77,257$ 152,434$ 152,434$ 131,330$
Water Utilities 77,257$ 152,434$ 152,434$ 131,330$
Total 77,257$ 152,434$ 152,434$ 131,330$
EXPENDITURES BY PROGRAM
PROGRAM ACTIVITIES AND OPERATIONS: WATER FUND
Management of Water Fund Capital Improvement Projects: Includes initial planning, engineering,
design and construction of water-related improvements.
Long-Range Planning: Includes oversight of water rights and work on the resolution of issues with the
Water Authority as identified in the Strategic Plan.
BUDGET SUMMARY: WATER FUND
ADMINISTRATION OF THE FUND
The Water Fund is administered by the Town Engineer. Approximately 20% of the Engineer's total
administration time is charged to the Water Fund.
FINANCIAL SUMMARY
EXPENDITURES BY CATEGORY
The Water Fund collects revenues, which are restricted to water related projects and expenses. Revenues
are generated by a $4,000 per Single Family Equivalent (SFE) water tap fee and a $3.25/SFE/month fee
on the water bill. Expenditures in the Water Fund include engineering and construction of projects, water
attorney fees and irrigation ditch maintenance. In addition, revenues are contributed to third parties for
water quality monitoring, river clean-up and associated projects.
Fund Summary
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Charges for Services:
Water Surcharges 175,381$ 170,000$ 170,000$ 170,000$
Tap Fees (23,200) 25,000 25,000 25,000
Tap Fees - Mountain Star - 4,000 4,000 4,000
Total Charges for Services 152,181 199,000 199,000 199,000
Other Revenues
Nonclassified Revenues - - - -
TOTAL REVENUES 152,181$ 199,000$ 199,000$ 199,000$
EXPENDITURES
Water Utilities 77,257 152,384 121,602 131,330
Total Operating Expenditures 77,257 152,384 121,602 131,330
Other Uses
Transfers Out - Capital Projects Fund 500,000 100,000 - -
TOTAL EXPENDITURES 577,257 252,384 121,602 131,330
NET SOURCE (USE) OF FUNDS (425,076) (53,384) 77,398 67,670
FUND BALANCES, Beginning of Year 430,707 399,386 5,631 83,029
FUND BALANCES, End of Year 5,631$ 346,002$ 83,029$ 150,699$
MUNICIPAL SERVICES
Water Fund #24
Current
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Taxes:
Short-term Rental Tax 999,737$ 1,001,099$ 1,001,099$ 1,013,112$
Use Tax on Construction Materials - 500,000 500,000 400,000
Intergovernmental:
More Housing NOW Grant 61,868 160,000 216,000 -
Local Planning Capacity Grant - - - 220,000
Charges for Services:
Rental Revenues - Employees 80,483 87,000 87,000 138,300
Rental Revenues - Employees
Investment Earnings - - - -
Other Revenue:
Misc Revenue 9,927 9,000 9,000 9,000
Loan Principal Repayment - - - -
Nonclassified Revenues - - - -
Total Operating Revenues 1,152,015 1,757,099 1,813,099 1,780,412
Other Sources
Operating Transfers-In (RETT)652,909 500,000 781,961 500,000
Total Other Sources 652,909 500,000 781,961 500,000
TOTAL REVENUES 1,804,924 2,257,099 2,595,060 2,280,412
EXPENDITURES
General Government:
Planning and Consulting 245,893 1,180,000 1,995,735 -
Sherwood Meadows Special Assessment 48,892 - - -
Mi Casa Good Deeds 664,230 600,000 1,685,338 1,750,000
MEHOP 250,000 500,000 375,000 625,000
Grant Consulting 27,000 26,000 26,000 24,000
Tract Y Contribution - - 600,000 -
R&M Rental Town Owned Units - 20,000 20,000 20,000
Personnel Expenses - 131,163 131,163 145,291
Other Professional Services - - - 4,000
Professional Development - - - 2,750
Community Housing Operating Expenditures 1,112 18,366 18,366 30,000
TOTAL EXPENDITURES 1,237,127 2,475,529 4,851,602 2,601,041
NET SOURCE (USE) OF FUNDS 567,797 (218,430) (2,256,542) (320,628)
FUND BALANCES, Beginning of Year 3,048,139 1,169,299 3,615,936 1,359,394
FUND BALANCES, End of Year 3,615,936$ 950,869$ 1,359,394$ 1,038,766$
Fund Summary
MUNICIPAL SERVICES
Community Housing Fund #25
CAPITAL PROJECTS FUND 5-YEAR PLAN
INVENTORY DETAIL
CARRYFORWARD Current
Total 2024 and Original Revised Proposed
Project Prior Yr.Current year Budget Budget Budget
Project #Community Housing Projects Budget Actuals 2025 2025 2025 2026 2027 2028 2029 2030
Planning and Consulting:
10002 East Parcels 210,000 30,034 - 50,000 179,966 - - - - -
10004 Lot 5 Employee Housing - Design 1,500,000 257,894 8,728 500,000 1,242,106 - - - - -
10005 Eagle County Regional Housing Action Plan 224,000 152,205 48,694 - 133,663 - - - - -
10006 Potential Housing Projects 400,000 7,909 - 200,000 - - - - - -
10007 Slopeside 450,000 - 147,170 50,000 150,000 - - - - -
10009 State Land Board Housing Developmnet 160,000 - - 30,000 30,000 - - - - -
Multi Jurisdictional Housing Authory 200,000 200,000 200,000 -
Wildridge Annex 75,000 75,000 30,000 -
East Avon Preserve 75,000 75,000 30,000 -
West PA 140,000 -
Facilities:
NEW Town Owned Community Housing - - - - - - - - - -
Total Community Housing Projects 1,710,000$ 287,928$ 204,592$ 1,180,000$ 1,995,735$ -$ -$ -$ -$ -$
Projected
Final
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
SEE FUND SUMMARY
EXPENDITURES BY CATEGORY
BUDGET SUMMARY: EXTERIOR ENERGY OFFSET FUND
The Exterior Energy Offset Fund (EEOP) was established to encourage sustainable, energy efficient,
exterior heating solutions that conserve energy and natural resources. EEOP considers exterior energy
uses over a nominal amount and establishes fees based on average British Thermal Units (BTUs) required
for such amenities over a 20-year period in our climate. Fees are exempted if renewable energy system(s)
are installed on-site prior to completion of the amenity which generate the equivalent of 50% of the energy
needed for the exterior energy use. Any partial renewable offsets and/or energy efficiency rebates earned
may be credited accordingly. System design, calculations, and field inspection are required and must be
verified by the Town's Building Official. (b) The following EEOP fees shall apply at the time of Building
Permit.
Fees collected at building permit are placed in the EEOP fund to create financial assistance, rebates, and
incentives to promote energy efficient projects elsewhere within the Town of Avon. Expenditures of EEOP
funds shall be used for: a) Provide educational materials and outreach for Town of Avon residents,
businesses, employees and building owners including but not necessarily limited to printed guides, efficient
building educational events, a webpage with available resources, links, and information. (b) Planning,
design and implementation of renewable energy generation projects. (c) Providing a community grant
and/or rebate program for energy efficiency enhancements or renewable energy generation projects. (d)
Funding other resources and administrative costs associated with green building and environmental
sustainability oriented efforts. (e) Special consideration is given to projects that positively affect occupants of
local affordable housing or low income residents in Town of Avon
ADMINISTRATION OF THE FUND
The Town Manager administers the Exterior Energy Offset Fund.
FINANCIAL SUMMARY
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Licenses and Permits:
Exterior Energy Offset Fee 18,264$ 25,000$ 25,000$ 25,000$
Total Operating Revenues 18,264 25,000 25,000 25,000
TOTAL REVENUES 18,264 25,000 25,000 25,000
EXPENDITURES
Community Development:
Project Planning & Consulting - 44,000 44,000 15,000
Energy Efficiency Projects 46,019 40,000 40,000 40,000
Total Operating Expenditures 46,019 84,000 84,000 55,000
TOTAL EXPENDITURES 46,019 84,000 84,000 55,000
NET SOURCE (USE) OF FUNDS (27,755) (59,000) (59,000) (30,000)
FUND BALANCES, Beginning of Year 224,901 198,222 197,146 138,146
FUND BALANCES, End of Year 197,146$ 139,222$ 138,146$ 108,146$
Fund Summary
MUNICIPAL SERVICES
Exterior Energy Offset Fund #27
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Other Revenues
Disposable Paper Bag Fee 66,157$ 25,000$ 25,000$ 45,000$
Resale of Trash & Recycling Bins 8,276 - - -
Total Operating Revenues 74,433 25,000 25,000 45,000
TOTAL REVENUES 74,433 25,000 25,000 45,000
EXPENDITURES
General Government:
Waste Reduction and Recycling 19,978 45,440 45,440 73,100
Total Operating Expenditures 19,978 45,440 45,440 73,100
TOTAL EXPENDITURES 19,978 45,440 45,440 73,100
NET SOURCE (USE) OF FUNDS 54,455 (20,440) (20,440) (28,100)
FUND BALANCES, Beginning of Year 94,062 82,602 148,517 128,077
FUND BALANCES, End of Year 148,517$ 62,162$ 128,077$ 99,977$
Fund Summary
MUNICIPAL SERVICES
Disposable Paper Bag Fee Fund #28
Final
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
SEE FUND SUMMARY
The Debt Service fund is used to account for the accumulation of resources for the payment of principal and
interest on the Town's debt not accounted for in any other fund. Accounted for in this fund are the Series
2020 Refunding Certificates of Participation issued for the Regional Transportation Facility, the Series 2014B
Certificates of Participation issued for street improvements, and the Series 2016 Certificates of Participation
that were issued to finance the construction of a new public safety facility.
BUDGET SUMMARY: DEBT SERVICE FUND
ADMINISTRATION OF THE FUND
The Chief Finance Officer administers the Debt Service Fund.
FINANCIAL SUMMARY
EXPENDITURES BY CATEGORY
Fund Summary
Original Revised Proposed
Account Actual Budget Budget Budget
Number Description 2024 2025 2025 2026
REVENUES
57101 Investment Earnings 173$ -$ -$ -$
58999 Miscellaneous Nonclassifed Revenues - - - -
Other Sources:
59201 Transfers-In from General Fund - - - 502,502
59201 Transfers-In from Capital Projects Fund 962,124 960,756 960,756 960,756
50000 TOTAL REVENUES 962,297 960,756 960,756 1,463,258
EXPENDITURES
Debt Service:
Series 2025, Certificates of Participation (Walgreens)
65101 Principal - - - 130,000
65102 Interest - - - 372,502
65103 Fiscal Agent Fees - - - 1,500
65109 Cash Management Fees - - - 50
924 Series 2010, Certificates of Participation
65101 Principal - - - -
65102 Interest - - - -
65103 Fiscal Agent Fees - - - -
65108 Arbitrage Compliance Fees - - - -
65109 Cash Management Fees - - - -
926 Series 2014B, Certificates of Participation (Street Improvements)
65101 Principal 265,000 275,000 275,000 280,000
65102 Interest 52,116 44,087 44,087 35,754
65103 Fiscal Agent Fees 1,500 1,500 1,500 1,500
65109 Cash Management Fees 2 50 50 50
927 Series 2016, Certificates of Participation (Public Safety Facility)
65101 Principal 305,000 320,000 320,000 325,000
65102 Interest 136,175 127,025 127,025 120,625
65103 Fiscal Agent Fees - 2,250 2,250 2,500
65108 Arbitrage Compliance Fees - - - -
65109 Cash Management Fees 2 50 50 50
928 Series 2020, Refunding Certificates of Participation (Series 2010 New Money)
65101 Principal 178,000 175,000 175,000 179,000
65102 Interest 15,683 13,494 13,494 1,134
65103 Fiscal Agent Fees 2,250 2,250 2,250 2,500
65108 Arbitrage Compliance Fees - - - -
65109 Cash Management Fees 2 50 50 50
Total Debt Service Expenditures 955,730 960,756 960,756 1,452,215
NET SOURCE (USE) OF FUNDS 6,567 - - 11,043
FUND BALANCES, Beginning of Year 40,745 40,258 47,312 40,258
FUND BALANCES, End of Year 47,312$ 40,258$ 40,258$ 51,301$
MUNICIPAL SERVICES
Debt Service Fund #31
Year Principal Interest Principal Interest Principal Interest Principal Interest Principal Interest
2025 355,000.00 27,318.30 461,000.00 40,111.10 203,727.73 44,354.89 320,000.00 127,025.00 275,000.00 44,086.50
2026 363,000.00 22,951.80 470,000.00 30,384.00 209,761.93 38,320.69 325,000.00 120,625.00 280,000.00 35,754.00
2027 369,000.00 18,486.90 480,000.00 20,467.00 215,974.84 32,107.78 330,000.00 114,125.00 290,000.00 27,270.00
2028 374,000.00 13,948.20 490,000.00 10,339.00 222,371.78 25,710.84 345,000.00 100,925.00 300,000.00 18,483.00
2029 378,000.00 9,348.00 - - 228,958.19 19,124.43 355,000.00 87,125.00 310,000.00 9,393.00
2030 382,000.00 4,698.60 - - 235,739.68 12,342.94 370,000.00 72,925.00 - -
2031 - - - - 242,721.93 5,360.69 385,000.00 58,125.00 - -
2032 - - - - - - 395,000.00 48,018.76 - -
2033 - - - - - - 405,000.00 37,650.00 - -
2034 - - - - - - 420,000.00 25,500.00 - -
2035-2045 - - - - - - 430,000.00 12,900.00 - -
Total 2,221,000.00$ 96,751.80$ 1,901,000.00$ 101,301.10$ 1,559,256.08$ 177,322.26$ 4,080,000.00$ 804,943.76$ 1,455,000.00$ 134,986.50$
Funding:
Interest Dates:
Date of Issue:
Interest Rate:
Issue Amount:$3,983,000 $4,111,000 $3,800,000
Series 2016Series 2017
2.00% - 4.00%2.90%
$6,300,000$3,000,000
Real Estate Transfer Taxes, General
Revenues of the Town
Urban Renewal Fund Tax Increment
Revenues
June 1 and December 1June 1 and December 1
December 1, 2035December 1, 2031September 2, 2020 May 1, 2020 December 1, 2029
1.230%2.110%3.03%
Real Estate Transfer Taxes, Fleet
Maintenance Revenues
Urban Renewal Fund Tax Increment
Revenues
Real Estate Transfer Taxes, General
Revenues of the Town
June 1 and December 1 June 1 and December 1 June 1 and December 1
Series 2020 Series 2020 Series 2014B
Refunding Certificates of Participation
Tax Increment Revenue Refunding
Loan Certificates of ParticipationCertificates of ParticipationTax Increment Revenue Bonds
TOWN OF AVON
Self-Supported Bonded Debt
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Taxes 73,037$ 69,487$ 69,487$ 72,000$
Intergovernmental 338,398 294,000 294,000 254,000
Charges for Services 504,656 379,869 379,869 459,869
Fines and Forfeitures - - -
Other Revenues 54,280 145,611 145,611 153,153
Total Operating Revenues 970,371 888,967 888,967 939,022
Other Sources
Transfers In from General Fund 1,500,000 1,500,000 1,500,000 1,500,000
Transfers In from Capital Projects Fund 200,000 200,000 200,000 200,000
Total Other Sources 1,700,000 1,700,000 1,700,000 1,700,000
TOTAL REVENUES 2,670,371 2,588,967 2,588,967 2,639,022
EXPENDITURES
Administration 292,638 366,821 366,821 357,673
Transit Operations 1,687,989 1,772,701 1,810,781 1,900,850
Washbay 275,006 287,505 341,505 318,941
Mobility Programs 510,651 367,116 369,816 349,600
Parking Management - - - -
TOTAL EXPENDITURES 2,766,284 2,794,143 2,888,923 2,927,064
NET SOURCE (USE) OF FUNDS (95,913) (205,176) (299,956) (288,042)
FUND BALANCES, Beginning of Year 896,717 1,098,870 800,804 500,848
FUND BALANCES, End of Year 800,804$ 893,694$ 500,848$ 212,806$
Fund Summary
MUNICIPAL SERVICES
Mobility Fund #52
Final
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Intergovernmental -$ -$ -$ -$
Charges for Services 2,833,337 2,114,254 2,114,254 2,461,890
Other Revenue 17,728 - - -
Total Operating Revenues 2,851,065 2,114,254 2,114,254 2,461,890
Other Sources
Transfers-In from General Fund - - - -
Transfers-In from Capital Projects Fund 348,022 433,825 433,825 495,611
Total Other Sources 348,022 433,825 433,825 495,611
TOTAL REVENUES 3,199,087 2,548,079 2,548,079 2,957,501
EXPENDITURES
Public Works:
Fleet Maintenance 2,698,986 2,254,121 2,254,121 2,447,844
Total Operating Expenditures 2,698,986 2,254,121 2,254,121 2,447,844
NET SOURCE (USE) OF FUNDS 500,101 293,958 293,958 509,657
FUND BALANCES, Beginning of Year 879,336 813,439 1,379,437 1,673,395
FUND BALANCES, End of Year 1,379,437$ 1,107,397$ 1,673,395$ 2,183,052$
Fund Summary
MUNICIPAL SERVICES
Fleet Maintenance Enterprise Fund #61
Final
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
SEE FUND SUMMARY
EXPENDITURES BY CATEGORY
The Equipment Repacement Fund is used to account for the rental of certain vehicles and equipment to
other departments for the accumulation of funds for future replacements.
BUDGET SUMMARY: EQUIPMENT REPLACEMENT FUND
ADMINISTRATION OF THE FUND
The Equipment Replacement Fund is administered by the Chief Finance Officer with assistance from other
department directors.
FINANCIAL SUMMARY
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Charges for Services:
Equipment Replacement Charges 1,203,761$ 1,448,022$ 1,448,022$ 1,448,022$
Interest Earnings 173,490 120,000 120,000 120,000
Other Revenue:
Insurance Claim Reimbursements - - - -
Total Operating Revenues 1,377,251 1,568,022 1,568,022 1,568,022
Other Sources
Transfers-In from Capital Projects Fund 652,538 859,375 859,375 463,300
Sales of Fixed Assets 103,148 120,000 120,000 120,000
Total Other Sources 755,686 979,375 979,375 583,300
TOTAL REVENUES 2,132,937 2,547,397 2,547,397 2,151,322
EXPENDITURES
Capital Outlay:
Fleet and Heavy Equipment 870,204 2,115,172 2,115,172 222,269
Recreation Center Equipment 68,342 49,930 49,930 46,538
Computer and Office Equipment 157,772 118,854 11,854 47,754
Machinery and Equipment 372,028 59,210 59,210 104,615
Heat Recovery - - - -
Total Operating Expenditures 1,468,346 2,343,166 2,236,166 421,176
Other Uses:
Transfer-Out to Capital Projects Fund - 425,000 425,000 425,000
TOTAL EXPENDITURES 1,468,346 2,768,166 2,661,166 846,176
NET SOURCE (USE) OF FUNDS 664,591 (220,769) (113,769) 1,305,146
FUND BALANCES, Beginning of Year 4,812,821 4,169,800 5,477,412 5,363,643
FUND BALANCES, End of Year 5,477,412$ 3,949,031$ 5,363,643$ 6,668,789$
Fund Summary
MUNICIPAL SERVICES
Equipment Replacement Internal Service Fund #63
Final
Original Revised Proposed
Account Actual Budget Budget Budget
Number Description 2024 2025 2025 2026
Charges for Services:
Equipment Rental Charges
54904 Nondepartmental 175,640$ 144,337 144,337 144,337
54905 Comm Dev - Building Inspection - 8,250 8,250 8,250
54904 Police - Administration 27,222 22,235 22,235 22,235
54904 Police - Patrol 193,289 261,551 261,551 261,551
54904 Police - Investigations 15,705 23,205 23,205 23,205
54904 Engineering 1,324 17,858 17,858 17,858
54904 Code Enfocement - 12,004 12,004 12,004
54904 Public Works - Roads and Bridges 245,060 314,579 314,579 314,579
54904 Public Works - Parks 154,920 141,143 141,143 141,143
54904 Buildings and Facilities 59,883 130,304 130,304 130,304
54904 Mobility - Operations 17,314 35,144 35,144 35,144
54904 Mobility - Wash Bay 106,016 106,016 106,016 106,016
54904 Fleet Maintenance 19,966 48,926 48,926 48,926
54903 Recreation - Administration 19,532 24,656 24,656 24,656
54904 Recreation - Aquatics 17,149 15,054 15,054 15,054
54904 Recreation - Fitness 150,741 142,761 142,761 142,761
54000 Total Charges for Services 1,203,761 1,448,023 1,448,023 1,448,023
57000 Investment Earnings
57101 Investment Earnings 173,490 120,000 120,000 120,000
Other Revenue
58205 Insurance Claim Reimbursements - - - -
Other Sources:
59201 Transfers-In from Capital Projects Fund 652,538 859,375 135,000 463,300
59101 Sale of Fixed Assets 103,148 120,000 120,000 120,000
59000 Total Other Sources 755,686 979,375 255,000 583,300
50000 TOTAL REVENUES 2,132,937$ 2,427,398$ 1,703,023$ 2,151,323$
Revenue Detail
MUNICIPAL SERVICES
Equipment Replacement Internal Service Fund #63
TOWN OF AVON
DETAILED BUDGET REQUESTS
2026 Proposed Budget
Department:N/A
Program:Computers and Office Equipment #813
2026
Account Proposed
Number Account Name Justification Budget
EQUIPMENT REPLACEMENT:
Computers and Office Equipment
DC-VMHOST 03 19,333
BU-BMHOST 19,333$
38,666
66402 Computers and Peripherals
66403 Audio / Visual Cameras Recycle Center 9,088
66404 Furniture and Fixtures -
66000 Total Capital Outlay 47,754$
TOWN OF AVON
DETAILED BUDGET REQUESTS
2026 Proposed Budget
Department:N/A
Program:Machinery and Equipment #814
2026
Account Proposed
Number Account Name Justification Budget
EQUIPMENT REPLACEMENT:
Machinery and Equipment
Variable Message Signs 10084
Variable Message Signs 10084
Variable Message Signs 10084
SandPro Tiller 22926
ProGator 2030A 42379
Power Steering Machine 2369
Brake Service Machine 4664
Oil Filter Crusher 2025
104,615$
-$
66499 Other Machinery and Equipment 104,615
66000 Total Capital Outlay 104,615$
TOWN OF AVON
DETAILED BUDGET REQUESTS
2026 Proposed Budget
Department:N/A
Program:Recreation Equipment #812
2026
Account Proposed
Number Account Name Justification Budget
EQUIPMENT REPLACEMENT:
Recreation Center
10 Spin Bikes 29,640
Half Rack Squat 2,030
Plate Loaded Leg Press 6,378$
Plate Loaded Squat Press 5,593
Plate Loaded Seated Calf 2,897
66407 Athletic and Recreational Equipment 46,538
66000 Total Capital Outlay 46,538$
TOWN OF AVON
DETAILED BUDGET REQUESTS
2026 Proposed Budget
Department:N/A
Program: Fleet and Heavy Equipment #811
Account 2026
Proposed
Number Account Name Justification Budget
EQUIPMENT REPLACEMENT:
Fleet and Heavy Equipment
General Goverenment:
#363 Ford Interceptor 68,188
#226 Plow Truck 44,951
#361 Tahoe PD 54,565
#362 Tahoe PD 54,565
66501 Automobiles and Light-duty Trucks 222,269
66502 Heavy Trucks and Moving Equipment -
66000 Total Capital Outlay 222,269$
Current
Original Revised Proposed
Actual Budget Budget Budget
2024 2025 2025 2026
REVENUES
Taxes 7,980,409$ 5,000,000$ 5,000,000$ 5,000,000$
Intergovernmental 1,683,440 5,116,000 7,561,750 4,319,258
Investment Earnings 455,390 200,000 200,000 200,000
Other Revenue 749 15,000 15,000 -
Total Operating Revenues 10,119,988 10,331,000 12,776,750 9,519,258
Other Sources:
Operating Transfers-In 5,040,000 2,636,000 2,636,000 4,499,667
Total Other Sources 5,040,000 2,636,000 2,636,000 4,499,667
TOTAL REVENUES 15,159,988 12,967,000 15,412,750 14,018,925
EXPENDITURES
Capital Improvements:
Facilities 3,190,849 1,090,000 5,343,462 8,628,500
Parks and Open Space 223,101 3,632,986 6,788,833 360,000
Streets and Parking 3,555,237 2,205,000 6,894,584 2,136,701
Drainage 367,350 25,000 187,650 200,000
Utility Projects 380,663 350,000 1,200,272 -
Debt Service:
Capital Leases 57,627 - - -
Total Capital Improvements 7,774,827 7,302,986 20,414,801 11,325,201
Other Uses
Operating Transfers-Out 3,279,060 3,611,702 3,169,288 7,666,475
Total Other Uses 3,279,060 3,611,702 3,169,288 7,666,475
TOTAL EXPENDITURES 11,053,887 10,914,688 23,584,089 18,991,676
NET SOURCE (USE) OF FUNDS 4,106,101 2,052,312 (8,171,339) (4,972,751)
FUND BALANCE, Beginning of Year 15,508,980 4,677,231 19,615,081 11,443,742
FUND BALANCE, End of Year 19,615,081$ 6,729,543$ 11,443,742$ 6,470,991$
Fund Balances
Restricted For:
Asphalt Overlay 423,144$ 423,144$ -$ -$
Assigned For:
Tract G/URA Projects 844,108 2,429,108 2,812,110 2,812,110
Unassigned:
Unreserved 18,347,829 3,877,291 8,631,632 3,658,881
Total Fund Balances 19,615,081$ 6,729,543$ 11,443,742$ 6,470,991$
Fund Summary
MUNICIPAL SERVICES
Capital Projects Fund #41
CAPITAL PROJECTS FUND 5-YEAR PLAN
SUMMARY
Original Current Proposed
Audited Budget Budget Budget
2024 2025 2025 2026 2027 2028 2029 2030 2031 2032
REVENUES
Real Estate Transfer Tax:
Base Level 7,980,409$ 5,000,000$ 5,000,000$ 5,000,000$ 5,150,000$ 5,304,500$ 5,463,635$ 5,627,544$ 5,796,370$ 5,854,334
Lot 3 Development (79 Units) - - - - - 1,050,000 1,715,000 -
McGrady Acres (12 Units under construction) - - - - 660,000 - -
Penalties and Interest - - - - - - -
Interest Earnings 455,390 200,000 200,000 200,000 150,000 150,000 150,000 150,000 150,000 150,000
Intergovernmental:
Federal/State/County:
Colorado Water Conservation Board - - - - - - - -
American Recovery Plan Act 1,636,538 - - - - - - -
DOLA Grant (East Park Restrooms) 46,902 1,000,000 1,000,000 - - - - -
CDOT Transit Grant 2024 Bus - - 2,799,956 - - - -
CDOT Transit Grant 2025/6 Bus Charging Equipment 384,000 -
CDOT Transit Grant for Fleet Lifts (Washbay) 256,000 -
CDOT Transit Grant for Fleet Lifts (Main) 240,000 -
CEO Grant - DCFC Plaza Grant (LM - $319,900) 560,000 -
GOCO Grant (Eaglebend Playground) - 375,000 375,000 - - - - -
Eagle County Contribution (Hwy 6 Roundabout) - 535,000 - - - - -
CDOT Revitalize Main Street Grant (Hwy 6 Roundabout) - 1,300,000 2,000,000 - - - - -
CDOT Multimodal Options Fund Grant I (Hwy 6 Roundabout) - 2,000,000 1,000,000 - - - - -
CDOT Multimodal Options Fund Grant (Hwy 6 Roundabout) 1,600,000 -
CDOT Off-System Bridge Grant - 895,302 -
CDOT Highway Safety Improvement Grant (Avon Rd - RRFB) 441,000 677,500 -
Eagle County Contribution Lot 5 Recycling Center 118,250 -
Colorado Parks and Wildlife Grant - - - - - - - -
Other Revenues:
Local Bank Financing Recreation Center - - 4,200,000 - -
Community Contributions - 15,000 15,000 - - - - -
Nonclassified 749 - - - - - - - - -
Total Operating Revenues 10,119,988 10,331,000 12,776,750 9,519,258 6,520,000 10,704,500 7,328,635 5,777,544 5,946,370 6,004,334
Other Sources:
Transfers In - General Fund
- Recreation Center Remodel 2,690,000 - - 2,500,000 2,500,000 - -
Transfers In - Avon URA
- Tract G Projects 1,750,000 1,750,000 1,750,000 1,750,000 1,800,000 2,000,000 2,000,000 1,750,000 1,750,000 1,750,000
- Lot 3 TIF Revenues (est 111 unit condo building)- - - - - 41,279 82,588 82,588 82,588 82,588
Transfers In - Community Enhancement Fund
- Powerline Undergrounding/LED Rec Center 100,000 361,000 361,000 - - - - - - -
Transfers In - Water Fund
- Nottingham Reservior 500,000 100,000 100,000 - - 100,000 -
Transfers In - Equipment Replacement Fund
McGrady Acres Park Cash-in-Lieu Payment - - - 249,667 - - -
Projected
CAPITAL PROJECTS FUND 5-YEAR PLAN
SUMMARY
Original Current Proposed
Audited Budget Budget Budget
2024 2025 2025 2026 2027 2028 2029 2030 2031 2032
Projected
- Snow Plows - 425,000 425,000 - 450,000 - - - - -
Total Other Sources 5,040,000 2,636,000 2,636,000 4,499,667 4,750,000 2,141,279 2,082,588 1,832,588 1,832,588 1,832,588
Total Revenues and Sources of Funds 15,159,988$ 12,967,000$ 15,412,750$ 14,018,925$ 11,270,000$ 12,845,779$ 9,411,223$ 7,610,132$ 7,778,958$ 7,836,922$
EXPENDITURES
Capital Improvements: -
Facilities 3,190,849 1,090,000 5,343,462 8,628,500 1,210,000 4,200,000 200,000 - - -
Parks and Open Space 223,101 3,632,986 6,788,833 360,000 8,650,000 1,000,000 1,200,000 - - -
Streets and Parking 3,555,237 2,205,000 6,894,584 2,136,701 3,880,000 4,640,000 2,603,973 1,141,988 40,000 40,000
Drainage 367,350 25,000 187,650 200,000 - - 1,500,000 - - -
Reserve Study Projects - - - - 137,950 538,914 99,649 1,005,090 1,394,061 1,047,117
Utility Projects 380,663 350,000 1,200,272 - - - - - - -
Debt Service:
Capital Leases:
- 2017 Commerce Bank, Plow Truck, Electrician Lift Truck 57,627 - - - - - - - - -
Total Expenditures 7,774,827 7,302,986 20,414,801 11,325,201 13,877,950 10,378,914 5,603,622 2,147,078 1,434,061 1,087,117
Other Uses:
Transfers Out - General Fund:
- Engineering Department Salary and Benefits 621,467 657,747 657,747 722,988 751,908 781,984 813,263 845,794 879,625 832,260
Transfers Out - Community Housing Fund:
- Mi Casa Program 652,929 500,000 781,961 500,000 515,000 530,450 546,364 562,754 579,637 585,433
Transfers Out - Debt Service Fund:
- 2014B COPS (Street Improvements)318,666 320,637 320,637 317,304 318,820 320,033 319,393 - - -
- 2016 COPS (Public Safety Bldg.)444,475 449,325 449,325 445,625 444,125 445,925 442,125 442,925.00 443,125.00 -
- 2020 Refunding COPs 195,983 190,793 190,793 190,341 191,139 191,900 191,624 191,324.00 - -
- Local Bank Loan (5-year term)- - 960,000 960,000 960,000 960,000
Transfers Out - Mobility Fund:
- Hybrid Buse (1) 200,000 200,000 200,000 970,000 - - -
- Electric Buses (2) - - - 3,071,306 - - -
Electric Bus Charging Equipment 480,000
Transfers Out - Fleet Maintenance Fund:
- 2020 COPs (Fleet Maintenance Bldg.)193,002 193,825 193,825 195,611 196,348 196,048 195,723 195,374 - -
- 80/20 Match on Grant for Lifts (Washbay)- 240,000 240,000 - - -
- 80/20 Match on Grant for Lifts (Main)300,000
Transfers Out - Equipment Replacement Fund:
- Ballot Box - - - 2,500 - - - - - -
- Drain Snake - - - 10,800 - - - - - -
- Digital Cable Infrastructure - - - 10,000
- Dump Truck/Road Widener/Roller 316,163 - - - - - - - - -
- Digital Signs on Railroad Tracks - - 37,000 - - - - - - -
- External Vest Ballistic Plates - 40,000 40,000 - - - -
CAPITAL PROJECTS FUND 5-YEAR PLAN
SUMMARY
Original Current Proposed
Audited Budget Budget Budget
2024 2025 2025 2026 2027 2028 2029 2030 2031 2032
Projected
- Heavy Duty Dump Trailer - 20,000 20,000 - - - -
- Diesel Light Towers (2)- 38,000 38,000 - - - -
- Armored Rescue Vehicle 336,375 336,375 - - - - -
- Snow Plow - 425,000 - 450,000 450,000 -
Total Other Uses 3,279,060 3,611,702 3,169,288 7,666,475 2,867,340 2,466,340 3,468,492 3,198,171 2,862,387 2,377,693
Total Expenditures and Uses of Funds 11,053,887 10,914,688 23,584,089 18,991,676 16,745,290 12,845,254 9,072,114 5,345,249 4,296,448 3,464,810
Net Source (Use) of Funds 4,106,101 2,052,312 (8,171,339) (4,972,751) (5,475,290) 525 339,109 2,264,883 3,482,510 4,372,112
Fund Balance, Beginning of Year 15,508,980 4,677,231 19,615,081 11,443,742 6,470,991 995,702 996,227 1,335,336 3,600,219 7,082,729
Fund Balance, End of Year 19,615,081$ 6,729,543$ 11,443,742$ 6,470,991$ 995,702$ 996,227$ 1,335,336$ 3,600,219$ 7,082,729$ 11,454,841$
Fund Balances
Restricted For:
Asphalt Overlay 423,144$ 423,144$ -$ -$ -$ -$ -$
Assigned For:
Tract G/URA Projects 844,108 2,429,108 2,812,110 2,437,110 537,110 478,389 980,728 2,730,728 4,480,728 6,230,728
Unassigned: .
Unreserved 18,347,829 3,877,291 8,631,632 4,033,881 458,592 517,838 354,608 869,491 2,602,001 5,224,113
Total Fund Balances 19,615,081$ 6,729,543$ 11,443,742$ 6,470,991$ 995,702$ 996,227$ 1,335,336$ 3,600,219$ 7,082,729$ 11,454,841$
CAPITAL PROJECTS FUND 5-YEAR PLAN
INVENTORY DETAIL
* RED signifies "New or Increased Budget"
Avon URA/DDA Project
Defer to Future Years
Project for Grant Funding
Funding to Likely Increase
Funding to Likely Decrease Discretionary (D)Original Current Proposed Budgeted
vs Prior Yr.Budget Budget Budget Project Completion
Capital Improvement Projects Non Discretionary (ND) Totals
2025 2025 2026 2027 2028 2029 2030 2031 2032 Date
Facilities
ATRF
ARTF - BAS / HVAC PM 312,000 19,110 - 165,600 - - - - 2025
ARTF - Bus Wash Exit 125,000 25,709 99,291 2025
ARTF - HVAC Separation 170,000 19,110 - 292,890 - - - - 2025
Upgrading ARTF meeting room D 13,500 - 13,500 2026
ARTF roof repairs ND 50,000 - 50,000 2026
ARTF Bus Wash Replumbing ND 15,000 - 15,000 2026
Heat exchangers/pumps for heat recovery system D 100,000 - 100,000 2026
Public Works Garage
Public Works Garage (Planning, Design, Mgt) 600,000 361,645 - 238,355 - - - - 2025
Public Works Garage Net:$2,727,500 4,364,038 1,909,500 - 2,454,538 - - - - 2025
ARPA GRANT: ($1,636,538) (1,636,538)
Recreation Center
Rec Center Office Area Expansion 75,000 - 75,000 30,000 - - - - 2025
Rec Center Surveillance Camera Replacements 60,000 - 60,000 60,000 - - - - 2025
Rec Center Roof Repairs 10,000 - 10,000 10,000 - - - - 2025
Rec Center Painting 20,000 - 20,000 20,000 - - - - 2025
Rec Center Building Key Card Access 62,650 3,702 - 62,650 - - - - 2025
Fitness Area Floor Replacement 110,000 - 110,000 110,000 - - - - 2025
Rec Center Break Room Remodel 15,000 - 15,000 15,000 - - - - 2025
Avon Rec center Hot Water Holding Tank replacement ND 45,000 - 45,000 2026
Rec Center Aquatics D 8,405,000 - 8,405,000 - 2026
Rec center door replacement D 80,000 - 80,000 2027
Fitness Studio/Storage access remodel D 100,000 - 100,000 2027
Rec Center Fitness Expansion D 4,500,000 - - 300,000 4,200,000 2029
Fleet Builidng
Fleet Maintenance - HVAC / AC 25,000 10,900 - 14,100 - - - - 2025
Fleet Vehicle Lifts Repair Net $80,000 320,000 - - 320,000 - - - - 2025
CDOT Transit Grant ($240,000) (240,000)
Fleet Compressor System 40,000 33,808 - 6,192 - - - - 2025
Fleet Wash Bay Lift Net $44,000 300,000 - 300,000 300,000 2025
CDOT Wash Bay Grant: ($256,000) (256,000)
Fleet Maintenance EPDM Roof Replacement 460,000 10,500 - 460,000 - - - - 2025
Fleet Heating Replacement ND 200,000 - 200,000 200,000 - 2025
Facility Office Shop
Bldg 351 - Rehab D 950,000 - 150,000 - - 800,000 - 2030
Facility Office Shop D 2,000,000 - - 200,000 1,800,000 2030
Town Hall
Building Access Control 82,650 52,311 - 30,339 - - - - 2025
Council AV Improvemnts 125,000 72,391 - 51,009 2025
Town Hall attic ventilation and fire alarm system installation ND 30,000 - 30,000 2026
Public Safety Facility
PD Cooling Tower Chemical loop pump 12,000 - - 12,000 - - - - 2025
Town Security Cameras (Avon Station, Pavilion, HAN Park, Courts) 10,000 - 100,000 100,000 - - - - 2025
Total
Project
Budget
Projected
CAPITAL PROJECTS FUND 5-YEAR PLAN
INVENTORY DETAIL
Funding to Likely Increase
Funding to Likely Decrease Discretionary (D)Original Current Proposed Budgeted
vs Prior Yr.
Budget Budget Budget Project Completion
Capital Improvement Projects Non Discretionary (ND) Totals
2025 2025 2026 2027 2028 2029 2030 2031 2032 Date
Total
Project
Budget
Projected
EV Charging Station at PD 100,000 73,620 - 100,000 2025
PSF Security Systems (access) 155,000 - - - - 155,000 - - 2027
PSF HVAC BAS 75,000 - - - - 75,000 - - 2027
Monument Signs for Pocket Parks 75,000 68,502 - 6,498 - - - - 2025
Pavilion emergency back up D 15,000 - 15,000 2026
Family Picnic Shelter ND 535,000 - - 35,000 - 500,000 - - 2027
Parks and Open Space
HAN Nottingham Park
H.A. Nottingham Park East Improvements Net $3,926,552 4,926,552 659,914 2,736,466 4,926,552 2025
DOLA GRANT: ($1,000,000) (1,000,000)
Park Water Fountain Replacement 98,000 3,188 - 98,000 2025
Special Events Meridian Barriers 66,983 66,983 31,520 31,520 2025
Art Pedestal Repairs and Solar Light Install 75,000 - - 75,000 2025
HAN Pavilion - Remove Rust and Paint 20,000 - 20,000 20,000 2025
Upper Field Restoration Net $250,000 D 500,000 - - 500,000 2027
Grant Funding 50/50 ($250,000)(250,000)
H.A.N. Park North Restrooms ND 759,754 59,754 - - - 700,000 - - 2027
H.A.N. Park West Restrooms ND 760,000 - - 60,000 - 700,000 - - 2027
O'Neal Spur Park
O'Neal Spur Park Parking Lot Rebuild* 100,000 - 100,000 - 100,000 - - - 2025
O'Neal Spur Park Improvements Net $250,000 D 200,000 - - - 50,000 - 150,000 - 2025
Grant Funding 50/50 ($250,000)(100,000)
Traer Creek Parks
Bosk Apt - P1 250,000 - 250,000 250,000 2025
Eaglbend Park
Eaglebend Park Improvements Net $515,000 890,000 67,239 300,000 522,761 2025
GOCO GRANT ($375,000) (375,000)
Irrigation Repairs
Post Blvd Irrigation Repair 150,000 82,238 - 150,000 2025
Irrigation System and Landscape Design* 80,000 - - 80,000 - - - - 2025
H.A.N. Irrigation System Construction 1,500,000 - - - - 750,000 750,000 - 2028
Trails
West Avon Preserve Trail Repair 35,000 - 35,000 35,000 2025
Nottingham Park Rec Trail - North (WBCB to Lake Street) D 1,300,000 - - - - 100,000 1,200,000 2029
Saddleridge Park
Saddle ridge Park Refresh D 100,000 - - - 100,000 - - - 2025
Pedestiran Mall
Pedestrian Mall Extension Net $5,940,000 6,500,000 30,308 100,000 500,000 - 6,000,000 - - 2026
CEO DEFC Plaza Grant ($560,000) (560,000)
Misc
Relocate Nottingham Historic Shed D 50,000 - 50,000 2026
Wildland Fire Mitigation D 120,000 120,000 40,000 40,000 40,000 2025
Post Blvd Irrigation and Boulders D 20,000 - 20,000 2026
Streets and Parking
Safety Improvments
CAPITAL PROJECTS FUND 5-YEAR PLAN
INVENTORY DETAIL
Funding to Likely Increase
Funding to Likely Decrease Discretionary (D)Original Current Proposed Budgeted
vs Prior Yr.
Budget Budget Budget Project Completion
Capital Improvement Projects Non Discretionary (ND) Totals
2025 2025 2026 2027 2028 2029 2030 2031 2032 Date
Total
Project
Budget
Projected
Avon Road Crossings (RRFB-2025) Net $524,657 1,202,157 190,101 300,000 1,012,056 2025
CDOT Hwy Safety Grant ( $677,500) (677,500)
US Hwy 6 Safety and Mobility Improvements Project Net $965,000 6,100,000 874,074 1,500,000 4,600,000 2025
Eagle CO Contribution ($535,000) (535,000)
CDOT Revitalize Main Street Grant ($2,000,000) (2,000,000)
CDOT Multimodal Options Fund Grant ($2,600,000) (2,600,000)
Benchmark Rd Crosswalks (2) - - 50,000 50,000 2025
WBCB - Concrete Repairs* 223,701 - - 223,701 - - - - 2025
WBCB River Bridge Deck Repair & Railing Upgrade Net $223,826 1,119,128 53,849 - 196,151 522,000 - - - 2026
CDOT Off-System Bridge Grant ($895,302) (895,302)
Old Trail Road Asphalt Overlay* 789,701 - - - 789,701 - - - 2025
I-70 Off-ramp Streetlight Repair 50,000 - - 50,000 2025
Mobile VMS Sign for Code Enforcement - - 35,000 35,000 2025
East Beaver Creek Blvd Childcare Bus Stop - - 150,000 150,000 2025
Asphalt Overlay
Post Blvd. Asphalt Overlay 2,750,000 11,760 - 238,240 - 2,500,000 - - 2027
Lake Street / Riverfront Asphalt Overlay 925,000 - - - 75,000 850,000 - - 2027
Avon Road Asphalt Overlay 2,100,000 - - - 100,000 2,000,000 - 2028
Wildridge Road Asphalt Overlay 2,600,000 - - - 100,000 2,500,000 - 2028
Swift Gulch Road - East Asphalt overlay 673,474 624,038 - - - 50,000 400,000 2029
WBCB - Elementary School to Lake St Asphalt Overlay 700,000 - - - - - 50,000 650,000 2029
West Wildwood East 1,129,968 - 1,129,968 2029
West Wildwood West 384,005 - 384,005 2029
Mountain Star South 443,448 - - 443,448 2030
Wildridge Road E 658,540 - - 658,540 2030
Roundabouts
RAB1 & 2 Avon Rd Concrete and Landscaping Redesign D 330,000 - 30,000 30,000 300,000 - - - 2026
Retaining walls
Metcalf Road - Retaining Wall Stabilization* 80,000 - - 80,000 2025
RAB5 Post Blvd Bridge Wall Repair 100,000 - 100,000 100,000 2025
Town Wide Retaining Wall Structures Analysis 280,000 - - 80,000 200,000 - - - 2026
Guardrails
Annual Guard Rail Repiars 673,474 - 40,000 49,436 40,000 40,000 40,000 40,000 40,000 40,000 40,000 POTENTIAL FOR GOING WORKING
Seal coats all Town parking lots 110,000 - 110,000 2026
Village at Avon Railing (white) 70,000 33,974 - - 35,000 2026
Brick work at Avon Station 65,000 2026
Construct Cinders Shelter and Paved Access Road - 250,000 2027
Avon Station bollards and concrete 40,000 2027
Drainage
Nottingham Rd Basin 4 Erosion Control 400,000 387,350 - 12,650 2025
Nottingham Reservoir Repairs 300,000 - - 100,000 200,000 - - - 2026
Puder Ditch Headgate Repair (Design & Const) Net $750,000 1,575,000 - 25,000 75,000 - - - 1,500,000 2029
Grant Funding ($750,000) (750,000)
Utilities
Recycling Center Upgrade* 437,215 278,268 - 158,947 - - - - 2025
Power Line Undergrounding* (part East Park) 481,972 10,144 - 481,972 - - - - 2025
IT Upgrades Recreation and Fleet 50,000 - 50,000 50,000 - - - 2025
CAPITAL PROJECTS FUND 5-YEAR PLAN
INVENTORY DETAIL
Funding to Likely Increase
Funding to Likely Decrease Discretionary (D)Original Current Proposed Budgeted
vs Prior Yr.
Budget Budget Budget Project Completion
Capital Improvement Projects Non Discretionary (ND) Totals
2025 2025 2026 2027 2028 2029 2030 2031 2032 Date
Total
Project
Budget
Projected
Upgrade Nottingham Puder Ditch Pump Station 300,000 - 300,000 300,000 2025
Nottingham Park Wi-Fi Access** 150,000 19,119 - 130,881 - - - -
Broadband (Connection to Thor and Avon PD)** 125,000 46,528 - 78,472 - - - - 2025
Reserve Study
Avon Recreation Center 345,724 42,332 159,758 644,224 754,033
Town Hall 57,317 220,491 50,530
Avon Regional Transportation Facitlity 137,950 18,984
Fleet Maintence Facility 193,190 597,121 749,837 154,808
Public Safety Facility 27,720
Parks Garage
Avon Performance Pavilion 68,762
2025
Total Capital Improvement Projects 59,525,132 6,279,637 7,302,986 20,414,801 11,370,201 13,877,950 10,378,914 5,603,622 4,747,078 1,434,061 1,087,117
-
970.748.4088 predmond@avon.org
TO: Finance Committee Members FROM: Paul Redmond, Chief Financial Officer
RE: 2026 Financial Policies
DATE: October 29, 2025
SUMMARY: Each year Staff asks Council to review the budgetary policies which drive our budget process
(Attachment A). The Town of Avon’s financial policies establish a disciplined framework for budget
development, fiscal accountability, and long-term planning. The Town Manager leads the budget process,
emphasizing transparency, public engagement, and policy-driven resource allocation. Budgets are
prepared using modified accrual accounting, with proprietary fund statements presented on a full accrual
basis. The Town maintains a 22% emergency reserve in the General Fund and prioritizes balanced
budgets that avoid deferring costs to future years. Capital improvement planning spans five years and
categorizes projects by replacement, expansion, or enhancement, with funding strategies tailored to each.
Procurement practices promote competitive bidding and value-based selection. The Town also integrates
performance metrics, evaluates operating impacts of capital projects and seeks equitable cost recovery
through user fees. Debt financing is reserved for projects benefiting future residents, ensuring fiscal
sustainability and alignment with community goals.
ATTACHMENTS:
Attachment A: Financial Policies (Clean and Comparison)
Thank you, Paul
DRAFT FOR 2026. Proposed changes are shown in redline/strike-out.
TOWN OF AVON FINANCIAL AND BUDGETARY POLICIES
The following budget policies are intended to help provide general guidance for operating and CIPthe
budget preparation, adoption, and implementation. These budget policies are intended to be reviewed and
updated as appropriate each year.
GENERAL BUDGETARY POLICIES
1. Responsibilities. Prior to the beginning of each fiscal year, theThe Town Manager shall prepare and
submit to the Council a recommended budget for the next fiscal year and an accompanying
message. by October 15. The Town Manager may delegate this responsibility to a budget officer. If
so delegated, the budget officer has full responsibility for managing the coordination and
administration of the budget process. The budget is a resource-allocation policy document. Council’s
primary focus should be on policy issues. Major policy issues such as funding priorities and “macro”
problems shall be described in the budget document. As representatives of the public interest,
elected officials frequently devote considerable time and energy to examining details of government
operations. This watchdog function is important and is an inevitable part of the budget review
process. However, excessive review of details may preclude thoughtful study of broader policy issues
that rightfully should dominate public policy debate. The Town Manager, Chief Financial Officer, and
Department Directors shall be expected to provide sufficient information to help frame the policy
review and debate..
2. Communication. The budget document shall be prepared so that it facilitates public study and
effectively communicates key economic issues and fiscal policies. The TownAvon should avoid
preparing a budget document that is so detailed that it does not communicate effectively with the
public.
3. Long-range Planning. The operating budget shall be developed with a focus on long-term financial
balance. Long-term financial commitments should be evaluated closely. Non-recurring revenues and
resources should not be used to finance continuing operations. A 3-year, long-range plan providing
projections of revenues and expenditures for the general, special revenue, and debt service funds
will be prepared and updated annually to provide prospective to each annual budget process.
[NOTE: Avon has never prepared a 3 year, long range plan]
Public Involvement. Opportunities should be provided for public input at the beginning of the budgeting
process as well as during the Council’s public review and budget adoption. Efforts to improve the legitimacy
of the budgeting process by involving the public shall be encouraged. Town Council and staff should seek
to obtain resident and business reactions before the budget becomes adopted.
4. Level of Service. The TownPublic Involvement. Avon shall comply with Colorado Local
Government Budget Law by providing a draft of the budget to the public by October 15. Avon shall
strive to review drafts of revenue projections, personnel expenses and Capital Improvements Project
budget at regular Council meetings prior to October 15. Specific budget or financial matters may be
referred to the Finance Committee when determined appropriate. Council shall schedule public
hearings on the draft budget at every regular Council between October 15 and adoption of the budget
in December.
4.5. Level of Service. Avon shall endeavor to maintain its current level of service to its citizens. No
increase or decrease in service should be planned except for items discussed during the budget
planning process.
5.6. Performance Measurement. Efficiency and economy in the delivery of Townpublic services is
always a priority. Where possible, the Town Avon will endeavor to integrate performance
measurements and productivity indicators within the budget.
FINANCIAL POLICIES
1. Basis of Accounting. All governmental fund budgets are prepared using the modified accrual basis
of accounting. Under this method, revenues are recognized when susceptible to accrual, that is,
measurable and available. Available means collectible in the current period or soo n enough
thereafter to be used to pay liabilities of the current period. Expenditures, other than interest on long -
term obligations that is recorded when due, are recognized when they are expected to be liquidated
with expendable available resources. All proprietary fund financial statements are presented using
the accrual basis of accounting. This is the preferred method for proprietary funds under the general
accepted accounting principles. When using the accrual basis of accounting revenues are re corded
when earned and expenses are recorded at the time of liabilities are incurred.
All proprietary fund budgets are also prepared using the modified accrual basis of accounting. While this
method is not recognized as generally accepted for proprietary funds, it remains the most practical for the
Town of Avon for budgetary purposes.
2. Budgetary Control. Budgetary control is maintained at the departmentalDepartment level as
directed by the Town Charter. All noncapital fund appropriations lapse at the end of the
Town’sAvon’s fiscal year.
3. The Finance DepartmentDivision operates and maintains the Town’sAvon’s centralized accounting
system. Accounting records are maintained in accordance with all legal requirements and generally
accepted accounting principles. This automated accounting system, including the Finance
Department’sDivision’s policies and procedures and organizational structure, provides multiple levels
of controls on expenditures of funds.
4. In addition to the Town’sAvon’s internal controls, the TownAvon employs a Certified Public
Accounting Firm to annually audit its accounting records and review its internal controls. The
TownAvon also submits its Comprehensive Annual Financial Report to the Government Finance
Officers Association for review regarding conformance to financial reporting standards. The Town
Avon has received the Certificate of Achievement for excellence in Financial Reporting each year
since 1991.
5. Fund Balances. Fund balances shall be maintained at levels sufficient to absorb unpredictable
revenue shortfalls and to ensure desired cash flow levels. Fund balances should also be maintained
at levels sufficient to avoid undesirable borrowing. “Surplus” fund balances should be committed first
to capital needs. The General Fund emergency reserves shall consist of the State of Colorado’s
required 3% TABOR restriction along with an additional emergency reserve of 22% for a total
emergency reserve of 25% of Avon’s budgeted General Fund expenditures. Avon has maintained a
minimum total emergency reserve of 25% since 2015.
6. Revenues. Revenues provide the resources by which the TownAvon carries out its mission, goals
and objectives. Revenue policies in general shall strive to improve the equity and efficiency of the
Town’sAvon’s revenue structure. The TownAvon shall strive to diversify and broaden its supporting
revenue base.
7. Cost Recovery Fees and User Fee Levels. Cost recovery fees, where appropriate, should be
established to ensure that rates are equitable and cover the total cost of providing the service or that
portion of the total cost deemed appropriated by the TownAvon. All fee schedules should be
reviewed annually as a part of the budget process and adjusted accordingly.
8. Grants. The TownAvon shall aggressively seek a fair share of available State and Federal financial
support. unless conditions attached to such assistance are contrary to the Town’s interest. Prior to
applying for and accepting intergovernmental aid, the TownAvon will examine the matching
requirements so that the source and availability of these funds may be determined before the grant
application is made.
9. The TownAvon shall assess the merits of a particular program as if it were funded with local tax
dollars. Local tax dollars will not be used to make up for losses of intergovernmental aid without first
reviewing the program and its merits.
10. Balanced Budget. The Town of Avon will develop balanced budgets in which current resources
(current revenues plus beginning fund balance) will equal or exceed current expenditures. The
TownAvon will avoid budgetary and accounting procedures which balance the budget at the expense
of future budgets, such as: postponing expenditures, accruing future years ’ revenues, or rolling over
short-term debt. The budget will provide for adequate maintenance and replacement of capital
plantvehicles and equipment. All budgetary procedures will conform with existing state and local
regulations.
Contingencies. The budget shall include a line item for contingencies for unexpected or unplanned
expenditures and emergencies. No transfer from this line item shall be made without the approval of the
Town Council. The amount provided for shall be a minimum of 0.5% of total operating expenditures within
the General Fund.
Procurement. Procurement practices should promote maximum value and economy through a competitive
process. Vendors and Service providers should be selected using processes that minimize opportunities for
favoritism. The Town’s purchasing and procurement process should encourage life-cycle costing, value
analysis, cooperative purchasing, and efficient disposition of surplus assets. Local vendors should be
preferred only when such practices are shown to benefit Town citizens and taxpayers. Emergency
purchases should be minimized.
11. Procurement. Avon shall follow Procurement Policies set forth in a resolution adopted by Council.
CAPITAL IMPROVEMENT AND DEBT FINANCING POLICIES
Capital improvement policies provide for the systematic repair and/or replacement of existing capital
assets.
Capital Improvement Program. The TownProject Plan (“CIP Plan”). Avon will plan for capital
improvements over a multi-year period. The Capital Projects Fund 5-Year Plan represents the Town’s
commitmentnext seven years. The CIP Plan shall prioritize maintenance of existing public infrastructure
with particular attention to a multi-year CIP programany public safety considerations. The CIP Plan shall be
structured to maximize efficiency with staff capacity, achieve positive cash flow, and relates directly to other
long-range plans and policies of the Town.implement Council’s priorities for new public infrastructure. . The
planCIP Plan will be updated each year as part of the budget planning process. The planCIP Plan may
include (in years other than the first year of the plan) “unfunded” projects that carry out the Town’sAvon’s
strategic and general objectives, but it should also include capital spending that identifies specific projects
that can and will be completed with known funding sources.
The capital improvements programCIP Plan will incorporate in its projections of expenditures and funding
sources any amounts relating to previous year’s appropriations, but which have yet to be expended.
1. The first year of the 5-Year CIP Plan will be used as the basis for formal fiscal year appropriations
during the annual budget process. Appropriations made in prior years for which expenditures have
not been changed nor projects completed will be reevaluated and incorporated into appropr iations for
the next fiscal year.
2. Operating Impacts. An economic impact analysis, Maintenance and aReplacement Costs. An
estimate of operating, maintenance impact statementand replacement costs for new capital
improvements shall be prepared by staff when submittingconsidering a major new capital
improvement project to Council for consideration for inclusion in the CIP program and 5-Year Plan.
Operating fund budgets to maintain capital improvements and additional staff needs must be
identified, estimated and amended if necessary, prior to making a final decision to approve and
undertake a specific capital improvement project.
3. Technology. New and emerging technologies should be evaluated for opportunities for use. Where
new technologies permit labor savings or allow other cost reductions capital spending can help
balance future budgets.
Capital Financing. Capital improvements will be financed primarily through the Town’sAvon’s Real Estate
Transfer Tax, other user fees, service charges, assessments, or developer agreements when benefits can
be specifically attributed to users.
4. in a new development and available unrestricted General Fund reserves. Development impact fees
should be created and implemented at levels sufficient to ensure that new development pays its fair
share of the cost of constructing necessary community facilities. Debt financing is appropriate when
there is a current capital improvement demand that cannot be financed with available funds and
when the debt service burden shall be borne by existing and future users benefiting from the capital
improvement. Caution should be exercised to ensure annual debt service payments do not obligate
a disproportionate amount of annually available funds for capital improvements and restrict the
flexibility and discretion of future Councils.
Debt financing is appropriate only as a means of matching facilities’ costs with the benefits enjoyed by
future residents.
5. Projects should be Capital Improvement Categories. Capital improvements shall be categorized
as follows, with financing noted for each category: :
(1) 1. Replacement (Non-Discretionary) – capital expenditures relating to normal replacement
of worn or obsolete capital plantpublic infrastructure, facilities or equipment should be financed
on a pay-as-you-go basis, with debt financing only considered when appropriate.the public
demand for replacement is immediate and necessary funds are not available . Depreciable
assets should, whenever possible, be financed through internal service funds ;. Replacement
of existing public infrastructure, facilities or equipment upon reaching the end of its useful life is
considered “Non-Discretionary” unless there is no longer a public demand for such capital
improvement.
2. Expansion – capital expenditures relating to New Capital Improvements (Discretionary) –the
construction of new or expanded facilities necessitated by growthcapital improvements, including
public infrastructure, facilities or new equipment, should be financed primarily on a pay-as-you-
go basis, but when new improvements can be determined to benefit the overall population in the
future, debt financing may be appropriate;
(2) 3. Unusual – some. New capital expenditures for improvements enhance the quality of life
in the Townhave a lower priority and are secondary to replacement of Avon and are consistent
with the Town’s goals but cannot be categorized as essential for the provision of basic services
or maintenance of the useful life of existing facilities. The source of funding in this category
shall be determined by looking to the ultimate beneficiary of the capital improvement. existing
public infrastructure, facilities and equipment.
970.748.4088 predmond@avon.org
TO: Finance Committee Members
FROM: Paul Redmond, Chief Financial Officer
RE: Planning Area A Financial Projections
DATE: October 28, 2025
SUMMARY: The financial projections and development metrics for Planning Area A over the next five
years outline assessed valuations, tax revenues, and fee structures for retail spaces, restaurant pads, and
condominium phases. Key components include property tax calculations based on mill levy and
assessment ratios (6.8% for residential, 25% for commercial), annual TIF contributions to the Avon
Downtown Development Authority and cumulative tax revenues. It also specifies retail and accommodation
sales fees, real estate transfer taxes and water/permit fees. Development phases feature major retail
spaces (e.g., Whole Foods), multiple restaurant pads and condo/hotel units; projected buildout values
exceed $281M. The model emphasizes incremental and cumulative impacts on local tax revenues, sales
tax collections and infrastructure fees, illustrating the long-term economic contribution of Planning Area A to
Avon’s growth. This report is informational only.
Thank you, Paul
ATTACHMENTS:
Attachment A: Planning Area A
2026 Assessment Rates
Non-Village Residential Commercial
Mill Levy Assessment Ratio Assessment Ratio
56.942 6.80% 25.00%
Trear Creek Metro District
Avon Downtown Development Authority BOSK Avondale
Town of Avon
WFM Pad #1 Pad #2 Skjol 1A Skjol 1B BOSK Avondale
Number of Units 111 50 50 242 40
LSF 26,000 2,500 3,700 - - 45,000 20,000
Value per SF 550.00$ 800.00$ 800.00$ 2,000,000.00$ 2,200,000.00$ 800.00$ 800.00
Value 14,300,000.00$ 2,000,000.00$ 2,960,000.00$ 100,000,000.00$ 110,000,000.00$ 80,000,000.00$ 16,000,000
Assessed Value For Assessor 3,575,000.00$ 500,000.00$ 740,000.00$ 6,800,000.00$ 7,480,000.00$ 5,440,000.00$ 4,000,000$
Annual TIF Property Tax for DDA 170,322.06$ 17,082.60$ 25,054.48$ 387,205.60$ 425,926.16$ 309,764.48$ -$
Retail Sales Fee * 880,000.00$ 60,000.00$ 80,000.00$ 27,918.80$ 27,918.80$ -$ -$
Accommodation Sales Fee -$ -$ -$ 27,918.80$ 27,918.80$ -$ -$
Add on Retail Sales Fee 165,000.00$ 11,250.00$ 15,000.00$ 5,234.78$ 5,234.78$ -$ -$
4% TOA Sales Tax on Sales Fee 41,800.00$ 2,850.00$ 3,800.00$ 2,442.90$ 2,442.90$ -$ -$
RETT (Recorded at the time of sale)286,000.00$ 40,000.00$ 59,200.00$ 2,000,000.00$ 2,200,000.00$ 1,600,000.00$ -$
Water Tap Fees 51,500.00$ 4,000.00$ 6,900.00$ 180,000.00$ 180,000.00$ 368,000.00$ 180,000.00$
Water Usage Fee $3.25 per SFE 338.00$ 32.50$ 48.10$ 1,755.00$ 1,755.00$ 9,438.00$ 1,560.00$
Totals
Traer Creek 1,217,500.00$ 104,000.00$ 146,100.00$ 2,235,837.60$ 2,435,837.60$ 1,968,000.00$ 180,000.00$
Avon DDA 170,322.06$ 17,082.60$ 25,054.48$ 387,205.60$ 425,926.16$ 309,764.48$ -$
Town of Avon 207,138.00$ 14,132.50$ 18,848.10$ 9,432.67$ 9,432.67$ 9,438.00$ 1,560.00$
Totals
Traer Creek 8,287,275.20$
Avon DDA 1,335,355.38$
Town of Avon 269,981.94$
RETAIL: CONDO:
One to Five Years