TC Res. No. 2002-35RESOLUTION NO. 02-35
SERIES OF 2002
A RESOLUTION TO AMEND THE 2002 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY
FUND AND AMENDING THE 2002 BUDGET FOR THE TOWN OF AVON,
COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY .
OF JANUARY, 2002, AND ENDING ON THE LAST DAY OF DECEMBER, 2002.
WHEREAS, the Town Council of the Town of Avon has adopted the 2002
budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and
expenditures for 2002; and
WHEREAS, the Town Council finds it necessary to amend the 2002 budget to
more accurately reflect the revenues and expenditures for 2002; and
,WHEREAS, whatever increases may have been made in the expenditures, like
increases were added to the revenues so that the budget remains in balance as required by
law.
NOW, THEREFORE, BE IT RESOLVED BYTHE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for the following fund is as
follows for 2002:
Original or
Previously
Amended
2002
Budget
General Fund
Beginning Fund Balance $ 3,528,522
Revenues and Other Sources 9,956,087
Expenditures and Other Uses 10,269,557
Current
Proposed
Amended
2002
Budget
$ 3,723,405
9,748,918
10,099,136
Ending Fund Balance $3,215,052 3,373.187
Original or
Previously
Amended
2002
Budget
Transit Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Fleet-Maintenance Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Equipment Replacement Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
$ 7,027
1,838,871
1,838,598
$ 7.300
Original or
Previously
Amended
2002
Budget
$ 160,742
1,306,917
1,400,408
$ 67.251
Original or
Previously
Amended
2002
Buffet
$ 630,332
137,226
91,928
Current
Proposed
Amended
2002
Budget
$ (17,441)
1,848,914
1,831,473
$ 0
Current
Proposed
Amended
2002
Buda
$ 152,404
1,306,917
1,342,988
$ 116.333
Current
Proposed
Amended
2002
Budget
$ 773,212
162,516
130.314
$ 805.414
Section 2. That the budget, as submitted, amended, and hereinabove summarized
by fund, hereby is approved and adopted as the budget of the Town of Avon for the year
stated above.
Section 3. That the budget hereby approved and adopted shall be signed by the
Town Manager and made part of the public record of the 'Town.
2
ADOPTED this 23`d day of July, 2002.
TOWN OF AVON, COLORADO
ATTEST:
P"Z~ J~C
Patty MpKe y, Tc
J Yodei a
41
SE A L
DGH G~
3
Memo
TO, Honorable Mayor and Town Council
Thna Bill Efting, Town Manager
Frone Scott Wright, Finance Direct
Data July 18, 2002
Re: Budget Amendment Resolution No. 02-35
Summary:
The above referenced budget amendment revises the General Fund, Transit Fund, Fleet Maintenance
Fund, and Equipment replacement Fund as detailed below.
General Fund
As previously discussed with Council, staff has prepared an amendment to the General Fund to revise
sales tax and interest revenues and to recognize certain personnel and operating expense arts.
In addition, a grant from the Colorado Division of Criminal Justice in the amount of $49,320 for Avon's
participation in the High Country Crime Response Team has been added to General Fund Revenues.
Previously anticipated personnel cost savings of $65,760 has been left in the Police Patrol budget to
offset the cost of the Town's participation in this project
Finally, additional subdivision review revenues in the amount of $110,000 from the Village project,
offset by an additional $95,500 in related professional services costs has been added to the General
Fund budget
2002 General Fund Budget
Current 2002 General Fund Spending Deficit
Reduction in Sales Tax Revenues to 0% Growth
Reduction in Interest Earnings
Revised Building Fees
Police Grant
Subdivision Review Fees
Salary and Benefit Savings
5% Across-the-board Operating Cuts
Engineering Professional Services
Revised Town Attorney Budget
Net Recommended Budget Changes
)
$(313,470
(244,507)
(125,000)
3,018
49,320
110,000
163,903
72,562
(95,500)
29.456
436,748
Page 1
Revised 2002 General Fund Spending Deficit
it should be noted that sales tax collections are currently 4.61% below last year. The above budget
amendment reflects an estimate at the same level as last year. It should also be noted that an
estimated savings of $76,940 from the 0 of July is not included in the above budget amendment,
along with a possible $25,000 in rain insurance proceeds.
Transit
The transit budget is being amended to reflect a decrease in accommodations taxes of $40,000, new
fare box revenues of $50,043, PTS wage savings of $33,740, and additional costs for the late night
addition of service to the Town Shuttle and Hurd Lane routes of $20,728. Staff recommends that the
original addition of 2.5 hours to the Town Shuttle and Hurd Lane routes be cut back by .5 hours
because of lack of ridership. These savings ($3,031) are already reflected in the above amendment
Fleet Maintenance
The Fleet Maintenance budget is being revised to reflect budget savings from reduced personnel costs
due to the freezing of vacant positions in the amount of $57,420.
Equipment Replacement Fund
This budget is being revised to reflect the purchase of a new patrol vehicle to replace the one that was
wrecked earlier in the year. Insurance proceeds of $25,290 have been received to help offset the cost
of the new vehicle. In addition, certain appropriations in the net amount of $5,386 for recreation center
equipment ordered at the end of 2001 and received in 2002 have been carried over to 2002.
Town GNiganagernenta~
r
Attachments:
A - Resolution 02-35
B - General Fund Amended Budget #2
C - Transit Fund Amended Budget #1
D - Fleet Maintenance Fund Amended Budget #1
E - Equipment Replacement Fund Amended Budget #1
0 Page 2
RESOLUTION NO. 02-35
SERIES OF 2002
A RESOLUTION TO AMEND THE 2002 TOWN OF AVON BUDGET
A RESOLUTIONS G EXPENDITURES AND REVENUES BY
FUND AND AMENDING THE 2002 BUDGET FOR THE TOWN OF AVON,
COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF
JANUARY, 2002, AND ENDING ON THE LAST DAY OF DECEMBER,, 2002.
WHEREAS, the Town Council of the Town of Avon has adopted the 2002
budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and
expenditures for 2002; and
WHEREAS, the Town Council finds it necessary to amend the 2002 budget to
more accurately reflect the revenues and expenditures for 2002; and
WHEREAS, whatever increases may have been made in the expenditures, like
increases were added to the revenues so that the budget remains in balance as required by
law.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for the following fiord is as
follows for 2002:
Original or
Previously
Amended
2002
Budget
General Fund
Beginning Fund Balance $ 3,528,522
Revenues and Other Sources 9,956,087
Expenditures and Other Uses 10,269,557
Current
Proposed
Amended
2002
Budget
$ 3,723,405
9,748,918
10,099,136
Ending Fund Balance $ 3.215.032
Transit Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Fleet Maintenance Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses.
Ending Fund Balance
Equipment Replacement Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
$ 160,742
1,306,917
1,400,408
$ 67.251
Original or
Previously
Amended
2002
Budget
$ 630,332
137,226
91,928
Current
Proposed
Amended
2002
Budget
$ (17,441)
1,848,914
1,831,473
$ 0.
Current .
Proposed
Amended
2002
Budget
$ 152,404
1,306,917
1,342,988
Current
Proposed
Amended
2002
Bu et
$ 773,212
162,516
130,314
Section 2. That the budget, as submitted, amended, and liereinabove summarized
by fund, hereby is approved and adopted as the budget of the Town of Avon for the year
stated above.
Section I That the budget hereby approved and adopted shall be signed by the .
Town Manager and made part of the public record of the Town.
Original or
Previously
Amended
2002
Budget
$ 7,027.
. 1,838,871
1,838,598
7:300
Original or
Previously
Amended
2002
Bud et
2
ADOPTED this 23rd day of July, 2002.
TOVVW OF AVON, COLORADO
Judy Yoder, Mayor
ATTEST:
Patty McKenny, Town Clerk
General Fund #10
Amended Budget #2
Original or
Current
Prev. Amend.
Proposed
Difference
Actual
Actual
Budget
Amendment
Inc ivass
2000
2001
2002
2002
(Decrease) _
REVENUES
Taxes
$
6;497,103
$
6,524,156
$
6,891,946
$
6,647,439
$ (244,507)
Licenses and Permits
498,904.
192,672
343,500
426,078
f
82,578
Intergovernmental
562,325
582,992
611,822
661;142
49,320
Charges for Services
1,389,605
1,280,957
1,555,144
1,565,584
30,440
Fines and Forfeitures
46,873
60,486
58,675
58,675
-
Investment Earnings
425,000.
277,308
275,000
150,000
. (125,000)
Other Revenue
727,556
328,914
205,000
205,000
-
Total Operating Revenues
10,147,366
-9,247,485
9,941,087.
9,733,918
(207,169)
Other Source
30,141
101,840
15,000
15,000,
-
TOTAL REVENUES
$
10,177,507
$ _
9,349,325
$
9,956,087.
$ -
: 9,748,918
$ (207,169)
EXPENDITURES
General Government
$
2,257,771
$
2,084,650
$
2,044,769
$
2,008,746
$ (36,023)
Community Development
608,175
605,560
564,836
465,111
(99,725) .
Public Safety
1,467,980
1,662,108
1,609,194
1,553,889
(55,309).
Public Works
2,374,943
2,474,795
2,512,640
2,556,367
43,727
Recreation and Culture
2,056,555
2,080,409
2,204,385
2,181,290
(23,095)
Total Operating Expenditures
8,765,424
8,907,522
8,935,824
8,765,403
(170,421)
Other Uses
Transfer;-Out to Mal-1-Maintenance
35,000
25,000
25,000
25,000
-
Transfers-Out to Fire Operations
294,333
-
-
-
-
Transfers-Out to Debt Service-
399,890
450,000
450,000
450,000
-
Transfers-Out to Finance Authority
115.892
135,015
133,733
133,733
-
Transfers-Out to Transit
474,232
900,000
600,000
-
600,000.
-
Transfers-Out to Sherwood Meadows
13,725
160,000
125,000
125,000
-
Total Other Uses
1,333,072
1,670,015
1,333,733
1,333,733
-
TOTAL EXPENDITURES
10,098,496
10,577,537
10,269,557.
10,099,136
(170,421)
NET SOURCE (USE) OF FUNDS
79,011
(1,228,212)
(313,470)
(350,218)
(36,748)
FUND BALANCES, Beginning, of Year
4,872,606
4,951,617
3,528,522
3,723,405
194,883
FUND BALANCES, End of Year
$
4,951,617
$
3,723,405
$
3,215,052
3,373,187
$ - . 158,135
Page 1
r
Transit Enterprise Fund #52
Amended Budget #1
Fund Summary
REVENUES
Taxes
Intergovernmental
Charges for Services
Other Revenues
Total Operating Revenues
Other Sources
Transfers-In from General Fund
TOTAL REVENUES
EXPENDITURES
Transportation
Total Operating Expenditures
TOTAL EXPENDITURES
NET SOURCE (USE) OF FUNDS
FUND BALANCES, Beginning of Year
FUND BALANCES, End of Year
Original or
Current
Prev. Amend.
Proposed
Difference
Actual
Actual
Budget
Amendment
Increase
2000
2001
2002
2002
(Decrease)
$ 234,142
$ 268,142
$ 320,000
$ 280,000
$ (40,000)
79,553
107,999
-
-
-
2,523,971
2,128,409
918,871
968,914
50,043
4,301
37,638
-
-
2,841,967 2,542,188 1,238,871 1,248,914- 10,043
474,232 900,000 600,000 600,000 -
3,316,199 3,442,188 1,838,871 1,848,914 10,043
3,567,925 3,456,777 1,838,598 1,831,473, (7,125)
3,567,925 3,456,777 1,838,598 1,831,473 (7,125)
3,567,925 3,456,777 1,838,598 1,831,473 47,125)
(251,726) (14,589) 273 17,441 17,168
248,874 (2,852) 7,027 (17,441) (24,468)
$ (2,852) $ (17,441) $ 7,300 $ - $ (7,300)
Page 1
Fleet Maintenance Internal Service Fund #61
Budget Amendment #1
Fund Summ
REVENUES
Charges for Services
Other Revenue
Total Operating Revenues
Other Sources
Capital Lease Proceeds
TOTAL REVENUES
EXPENDITURES
Public Works:
Fleet Maintenance
Washbay
TOTAL EXPENDITURES
NET SOURCE (USE) OF FUNDS
Original or
Current
Prev. Amend.
Proposed Difference
Actual Actual Budget
Amendment Increase
2000 2001 2002
2002 (Decrease)
$ 1,736,704 $ 1,731,621 $ 1,281,917 $ 1,281,917 $
1,930 ' 98,240 25,000 25,000
1,738,634 1,829,861 1,306,917 1,306,917
30,165 - - - -
1,768,799 1,829,861 1,306,917 1,306,917
1,550,672 1,451,977 1,240,947 1,210,947 (30,000)
163,126 161,358 159,461 132,041 (27,420)
1,713,798 1,613,335 1,400,408 1,342,988 (57,420)
55,001 216,526 (93,491) (36,071) 57,420
FUND BALANCES, Beginning of Year
(119,123)
(64,122)
160,742
152,404
(8,338)
FUND BALANCES, End of Year
$ (64,122)
$ 152,404 $
67251 $
116,333
$ 49,082
Page 1
Equipment Replacement Internal Service Fund
#63
Budget Amendment #1
%nd5Summa'
Original or. ' .
Current
Prev. Amend.
Proposed
Drfference
Actual
Actual
Budget
Amendment
Increase
2000
2001
2002
2002
(Decrease)
REVENUES
Charges for Services
$ 563,893
$ 552,329
$ 137,226
$ 137,226-
$ -
Other Revenue
27,038
28,543
-
25,290
25,290
Total Operating Revenues
590,931
580,872
137,226
162,516
25,290
Other Sources
Capital Lease, Proceeds
-
-
-
-
TOTAL REVENUES
590,931
580,872
137,226
162,516
25,290__.
EXPENDITURES
Capital Outlay:
Fleet and Heavy Equipment
239,229
180,712
-
33,000
33,000
Recreation Center Equipment
27,449
89,660
80,400
85,786
5,386
Computer and.Office-Equipment
-
-
11,528--
11,528
Other Equipment
-
-
-
-
TOTAL EXPENDITURES
266,678
270,372..
91,928
130,314
38,386.
NET SOURCE (USE) OF FUNDS
324,253
310,500
45,298
32,202
(13,096)
FUND BALANCES, Beginning of Year
138,459
462,712
630,332
773,212
142,880
FUND BALANCES, End of Year
$ 462,712 $
773,212 $
675,630 $
805,414
129,784
Page 1