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Finance Committee Minutes 25-11-03 FINANCE COMMITTEE MEETING MONDAY, NOVEMBER 3, 2025 Finance Committee Meeting Minutes November 3, 2025 DRAFT Page 1 of 2 1. ROLL CALL Present in Person: Committee members John Widerman, Markian Fedeschuk and Gregg Cooper Present Virtually: Committee Members Lisa Post and Cathy Krajicek Absent: Committee members Clark Rogers, Rick Sudekum and Steve Coyer and Councilors Kevin Hyatt and Lindsay Hardy Staff: Deputy Town Manager Patty McKenny, Town Manager Eric Heil, Financial Analyst Chase Simmons, Chief Administrative Officer Ineke de Jong The meeting was called to order by Committee Chair John Widerman at 12:01 p.m. 2. APPROVAL OF MARCH 3RD, 2025 M INUTES Committee member John Widerman moved to approve the minutes. Committee member Markian Fedeschuk seconded the motion, and it passed 5 to 0 with the 5 voting committee members present. 3. PUBLIC COMMENT There was no public comment. 4. PRESENTATION : 2025 FINANCIALS AND 2026 BUDGET PREVIEW (ERIC HEIL, TOWN MANAGER) Town manager Eric Heil provided an update on the 2025 financials, noting f lat revenues and a decline in accommodation tax. Committee member Cathy Krajicek asked about the decline, and Eric explained plans to boost marketing. The Town Manager then discussed the 2026 budget and strategies to increase lodging occupancy, including a potential bluegrass festival. Committee members asked questions about event strategy, budget structure and staffing, and Eric explained Avon’s fund structure and noted that early signals and hard work helped balance the budget for 2026. 5. DISCUSSION : BUDGET POLICIES (ERIC H EIL, TOWN MANAGER) Committee members discussed the potential value of multi-year budgeting. However, members agreed multi-year budgeting may not be valuable if the process is simply to add a few percent to revenues and expenses year over year. Town Manager Eric Heil noted the CIP plan already spans 5 years and will be increasing to 7 years moving forward. Gregg Cooper raised the idea of a debt limit, and Eric reviewed the debt schedule. 6. UPDATE: VILLAGE (AT A VON) DEVELOPMENT (ERIC HEIL, TOWN MANAGER ) Town Manager Eric Heil presented updates on the Village (at Avon) development and financial impacts to Avon . Gregg Cooper asked about the financial impact more traffic would have on roads. Eric explained the impact will be negligible. Committee members asked about the commitment from Whole Foods, and Eric explained Avon has a commitment from the developer rather than Whole Foods. He went on to explain that the developer is already preparing the site. FINANCE COMMITTEE MEETING MONDAY, NOVEMBER 3, 2025 Finance Committee Meeting Minutes November 3, 2025 DRAFT Page 2 of 2 7. OTHER BUSINESS Committee member John Widerman asked about Mi Casa and Good Deeds funds. Chief Administrative Officer I neke de Jong reported that the program was so successful in 2025 that the funds are exhausted. The program will return in 2026. Town Manager Eric Heil explained how the program supports affordable homeownership. Ineke De Jong reminded committee members of the upcoming annual appreciation dinner and scheduled the next meeting for January 26, 2026. Additional m eetings will be held the 4 th Monday quarterly in 2026 8. NEXT COMMITTEE MEETING DATE Monday, January 26th at 12:00 p.m. 9. ADJOURNMENT Committee Chair John Widerman moved to adjourn the meeting. All present members were in favor and the meeting adjourned, the time was 01:29 p.m. Respectfully Submitted by: Chase Simmons, Financial Analyst. 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.