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TC Res. No. 2003-36TOWN OF AVON, COLORADO RESOLUTION NO. 03-36 SERIES OF 2003 A RESOLUTION TO AMEND THE 2003 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2003 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2003, AND ENDING ON THE LAST DAY OF DECEMBER, 2003. WHEREAS, the Town Council of the Town of Avon has adopted the 2003 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 2003; and WHEREAS, the Town Council finds it necessary to amend the 2003 budget to more accurately reflect the revenues and expenditures for 2003; 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 fund is as follows for 2003: Original or Previously Amended 2003 Buag_et Capital Proiects Fund Beginning Fund Balance $ 2,489,887 Revenues and Other Sources 2,501,149 Expenditures and Other Uses 1,939,212 Current Proposed Amended 2003 Budget $ 2,489,887 2,501,149 1,974,212 Ending Fund Balance 3,051,824 $ 3,016,824 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. ADOPTED this 26th day of August, 2003. TOWN OF AVON, COLORADO Albert D. Reynol s, M or ATTEST: P., Pa Kenny wn Clerk Y t" s A a. e Y 2 Capital Projects Fund #41 Amended Budget #3 FuWASumma- REVENUES Taxes Intergovernmental Investment Earnings Other Revenue Total Operating Revenues Other Sources: Transfer In from Other Funds TOTAL.REVENUES EXPENDITURES Capital Improvements: Facilities , Land and Land Improvements Roads and Streets Recreation Stormwater and Drainage Development Services Strategic Planning Communications Other Developer Rebates Debt Service: Capital Lease Payments Total Other Uses Operating Transfer-Out to General Fund Operating Transfer-Out to Wildridge S.I.D. TOTAL EXPENDITURES NET SOURCE (USE) OF FUNDS FUND BALANCE, Beginning of Year FUND BALANCE, End of Year Original or Current Prev. Amend. Proposed Difference Actual Actual Budget Amendment Increase 2001 2002 2003 2003, (Decrease) $ 2,058,942 $ 1,714,946 $ 1,000,000 $ 1,000,000 $ - 426,540 1,044,313 290,000 290,000 - 88,614 37,707 26,149 26,149 - 21,531 26,258 11,000 11,000 - 2,595,627 2,823,224 1,327,149 1,327,149 - 280,000 635,000 1,174,000 1,174,000 - 2,875,627 3,458,224 2,501,149 2,501,149 - 488,623 81,119 - - - 1,295,691 3,541,523 346,941 381,941 35,000 58,904 - - - - 76,922 572,931. 1,249,000 1,249,000 - - 417,008 - - - 84,189 5,215 25,000 25,000 - 30,000 - , - - - 2,250 5,250 6,000 6,000 - 399,160 184,358 100,000 100,000 - 122,739 41,070 - - - 2,558,478 4,848,474 1,726,941 1,761,941 35,000 100,000 - 200,000 200,000 - 14,231 13,251 12,271 12,271 - 2,672,709 4,861,725 1,939,212 1,974,212 35,000 202,918 (1,403,501) 561,937 526,937 (35,000) 3,690,470 3,893,388 2,489,887 2,489,887 - $ 3,893,388 $ 2,489,887 $ 3,051,824 $ 3,016,824 $ (35,000) Capital Projects Fund #41 Amended Budget #3 RevenuezDetall Original or Current Prev. Amend.- Proposed Difference Account Actual Actual Budget Amendment Increase Number Description 2001 2002 2003 2003 (Decrease) Taxes: m 51401 Real Estate Transfer Tax $ 2,058,942 $ 1,714,946 $ 1,000,000 $ . 1,000,000 $ - 51000 Total Taxes 2,058,942 1,714,946 1,000,000 1,000,000 - Intergovernmental: Federal Grants 53199 Community Development Block Grant - 397,163 - - - State Grants: 53201 Colorado State Bikepath GOCO Grant - 136,040 - - - Local Government/Other Agency: 53401 Eagle County RTA (Trails Grant) 191,565 311,110 - • - - 53401 • Village at (Avon) 225,000 200,000 290,000 290,000 - 53401 Eagle River Water & Sanitation District 9,975 - - - - Subtotal: Local Government/OtherAgency 426,540 511,110 290,000 290,000 - 53000 Total Intergovernmental 426,540 1,044,313 290,000 290,000 - Investment Earnings: 57101 Interest Earnings 88,614 37,707 26,149 26,149 - 57000 Total Investment Earnings 88,614 37,707 26,149 26,149 - Other Revenues: 58102 Utiliy Capital Facility Fees 487 450 2,000 2,000 - 58104 Fireplace Fees - 1,500 9,000 9,000 - 58211 Development Reimbursements 10,561 22,637 - - - 58999 Miscellaneous Nonclassified Revenues 10,483 1,671 - - - 58000 Total Other Revenues 21,531 26,258 11,000 11,000 - Other Sources: 59201 Transfer In from Other Funds 280,000 635,000 1,174,000 1,174,000 - 59000 Total Other Sources 280,000 635,000 1,174,000 1,174,000 - 50000 TOTAL REVENUES $ 2,875,627 $ 3,458,224 $ 2,501,149 $ 2,501,149 $ - 2 `Capital Projects Fund #41 Amended Budget #3 • CIP Piro edtsjlnventoi,-y Original or Current Prev. Amend. Proposed Difference Account Actual Actual Budget Amendment Increase Number - Description 2001 2002 2003 2003 (Decrease) CAPITAL IMPROVEMENT PROJECTS Facilities 11004 Information Kiosks - Town Center $ - $ 24,276 $ - $ - $ - 15001 Recreation Center Refurbishment 488,623 56,843 - - - Land and Land Improvements: Parks: 21003 Land Trade Contribution - - - - - Roads and Streets: Streetscape: 31002 W. Beaver Creek Blvd. 8,677 - - - - 31004 Nottingham Rd. Imp. / 1-70 to Buck Creek 103,539 - - - - 31005 Nottingham Rd. Imp. / Buck Creek to Metcalf Rd. - 34,321 - - - Street Improvements: 32001 Paving%Road improvements 83,819 143,521 200,000 235,000 35,000 32003 Chapel Square Reimbursement 50,000 - - - 32004 E. Beaver Creek Blvd. Improvements 2,315 176 90,000 90,000 - 32005 Buffalo Ridge Commitments - - 56,941 56,941 Multi-Modal/Altemative Mobility: 34002 East Avon Access and Circulation 54,009 2,855,036 - - - 34004 Eagle River Bikepath 173,354 - - - - 34005 Eagle River Bikepath - Beaver Creek Blvd to Conf. 80,152 490,536 - - - 34006 Nottingham Road / 1-70 bikepath 739,826 17,933 - - - Recreation: 51001 Nottingham Park Basketball Court 58,904 - - - - Stormwater and Drainage: 61001 Buck Creek / I-70 to Eagle River - 15,883 1,249,000 1,249,000 - 61002 Metcalf Rd. Drainage 11-70 to Eagle River 76,922 557,048 - - - Development Services: 65001 ViIlage,atAvon, Filing 1 - 12,896 - - - 65002 Village at Avon, Filing'2 - 6,949 - - - 65004 Buffalo Ridge - 397,163 - - - Strategic Planning: Development Analysis and Review: 71001 Village at (Avon) 3,385 - - - - 71002 Downt_o_wn_ Master Plan 54,025 - - - 71003 Lot C 4,780 - - - - 71004 Confluence / Beaver Creek Landing 6,525 5,215 - - - 79001 Planning and Consulting 15,474 - 25,000 25,000 - Communications: 81001 800Mhz Radio System 30,000 - - - - Other: 91001 Fireplace Conversions 2,250 5,250 _ 6,000 6,000 - Total Capital improvement Projects $ 2,036,579 $ 4,623,046 $ 1,626,941 $ 1,661,941 $ 35,000 3 e ~p • Memo. To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Norman Wood, Town Engineer Gam/ Date: August 20, 2003 Re: Resolution No. 03-36, Capital Projects Fund Budget Amendment I. Summary: In May of this year Council requested that the temporary delineators installed in Hurd Lane- be replaced with permanent. improvements. A total estimated project-cost of $39,650 was presented at that time. This work has been added to the 2003 S treet a nd'R oad I mprovements P roject and we have presented a recommendation to • Council ,to award a contract to B & B Excavating, Inc. who was the low bidder. The current budget for 2003 'Street and Road Improvements is $200,000.Approval' of Resolution No. 03- 36 will increase will increase this budget from $200,000 to $235,000 to cover the cost of the added Hurd Lane Improvements. The $35,000 increase will come from the fund balance in the Capital Improvements Fund and has no effect on the General Fund of the Town. - We recommend approval of Resolution No. 03-36 amending the Capital Improvements Fund Budget to increase the 2003 Street and Road Improvement Budget from $200,000 to $235,000.. Recommendation: Approve Resolution No. 03-36 amending the Capital Improvements Fund Budget to increase the 2003 Street and Road Improvement Budgetfrom $200,000 to $235,000. Town 'Manager Comments: n U 1:ICU1\Sueet bMmvemrnts120031R6 03-36 Budget Amendment.Doc t TOWN OF AVON, COLORADO RESOLUTION NO. 03-36 SERIES OF 2003 A RESOLUTION TO AMEND THE 2003 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2003 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2003, AND ENDING ON THE LAST DAY OF DECEMBER, 2003. WHEREAS, the Town Council of the Town of Avon has adopted the 2003 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 2003; and WHEREAS, the Town Council finds it necessary to amend the 2003 budget to more accurately reflect the revenues and expenditures for 2003; 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 fund is as follows for 2003: Original or Previously Amended 2003 Budget Capital Proiects Fund Beginning Fund Balance $ 2,489,887 Revenues and Other Sources 2,501,149 Expenditures and Other Uses 1.939.212 Current Proposed Amended 2003 Budget $ 2,489,887 2,501,149 1.974.212 Ending Fund Balance $ 3.051.824 3.016.824 is • E b 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. ADOPTED this 26 h day of August, 2003. ATTEST: Patty McKenny, Town Clerk • • TOWN OF AVON, COLORADO Albert D. Reynolds, Mayor 2 Capital Projects Fund #41 Amended Budget #3 ;.~Original or Current Prev. Amend. Proposed Difference Actual Actual Budget Amendment Increase REVENUES 2001 2002 2003 2003 (Decrease) Taxes $ 2,058,942, $ 1,714,946 $ 1,000,000 $ 1 000 000 $ Intergovernmental 426,540 1,044,313 290,000" , , 290 000 Investment Earnings 88,614 37,707 26,149 , 26 149 Other Revenue 21,531 26,258 11,000 , 11,000 _ Total Operating Revenues 2,595,627 2,823,224 1,327,149 1,327,149 Other Sources: Transfer In from Other Funds 280,000 635,000 1,174,000 1,174,000 - TOTAL REVENUES 2,875,627 3,458,224 2,501,149 2,501,149 _ EXPENDITURES Capital Improvements: Facilities 488,623 81,119 - Land and Land Improvements - - Roads and Streets 1,295,691 - 3,541,523 _ 346,941 381,941 35 00 Recreation 58,904 - _ , Storn-water and Drainage 76,922 572,931 1,249,000 1,249 000 _ Development Services - 417,008 - , Strategic Planning 84,189 5,215 25,000 25 000 _ Communications 30,000 - - , _ Other 2,250 5,250 6,000 6 000 Developer Rebates 399,160 184,358 100,000 , 100 000 - Debt Service: , Capital Lease Payments 122,739 41,070 - - Total 2,558,478 4,848,474 1,726,941 1,761,941 35,000 Other Uses Operating Transfer-Out to General Fund 100,000 - 200;000 200 000 - Operating Transfer-Out to Wildridge S.I.D. 14,231_ 13,251 - -12,271 , 12,271 - TOTAL EXPENDITURES 2,672,709 4,861,725 1,939,212 1,974,212 35,1000 NET SOURCE (USE) OF FUNDS 202,918 (1,403,501) 561,937 526,937 (35,000) =UND BALANCE, Beginning of Year 3,690,470 3,893,388 2,489,887 2,489,887 =UND BALANCE, End of Year $ 3,893,388 $ 2,489,887 $ 3,051,824 $ 3,016,824 $ (35,000) • I Capital Projects Fund #41 Amended Budget #3 Original or Current Prev. Amend. Proposed Difference Account Actual Actual Budget Amendment Increase Number Description 2001 2002 2003 2003 (Decrease) Taxes: 51401 Real Estate Transfer Tax $ 2,058,942 $ 1,714,946 $ 1,000,000 $ 1,000,000 $ - 51000 Total Taxes 2,058,942 1,714,946 1,000,000 1,000,000 - Intergovernmental: Federal Grants 53199 Community Development Block Grant State Grants: 53201 Colorado State Bikepath GOCO Grant Local Government/Other Agency: 53401 Eagle County RTA (Trails Grant) 53401 Village at (Avon) 53401 Eagle River Water 8 Sanitation District Subtotal: Local Government/Other Agency 53000 Total Intergovernmental 0 Investment Earnings: 57101 Interest Earnings 57000 Total Investment Earnings Other Revenues: 581.02 Utility Capital Facility Fees 58104 Fireplace Fees 58211 Development Reimbursements 58999 Miscellaneous Nonclassified Revenues 58000 Total Other Revenues Other Sources: 59201 Transfer In from Other Funds 59000 Total Other Sources 50000 TOTAL REVENUES • 397,163 - - 136,040 - - 191,565 311,110 - - 225,000 200,000 290,000 290,000 - 9,975 - - - 426,540 511,110 290,000 290,000 - 426,540 1,044,313 290,000 290,000 - 88,614 37,707 26,149 26,149 88,614 37,707 26,149 26,149 - 487 450 2,000 2,000 - - 1,500 9,000 9,000 - 10,561 22,637 - - - 10,483 1,671 - - - 21,531 26,258 11,000 11,000 - 280,000 635,000 1,174,000 1,174,000 - 280,000 635,000 1,174,000 1,174,000 - $ 2,875,627 $ 3,458,224 $ 2,501,149 $ 2,501,149 $ - 2 P Capital Projects Fund #41 Amended Budget #3 • _ CIPW%o ecfs n] Preto - - Original'or Current Prev. Amend. Proposed Difference Account Actual Actual Budget Amendment Increase Number Description 2001 2002 2003' 2003 (Decrease) CAPITAL IMPROVEMENT PROJECTS Facilities: 11004 Information IGosks - Town Center $ - $ 15001 Recreation Center Refurbishment 488,623 Land and Land Improvements: Parks: 21003 Land Trade Contribution - Roads and Streets: Streetscape: 31002 W. Beaver Creek Blvd. 8,677 31004 Nottingham Rd. Imp. / 1-70 to Buck Creek 103,539 31005 - Nottingham Rd. Imp. / Buck Creek to Metcalf Rd. - 31006 Eaglebend Dr. - Street Improvements: 32001 Paving/Road Improvements 83,819 32003 Chapel Square Reimbursement 50,000 32004 E. Beaver Creek Blvd. Improvements 2,315 . 32005 Buffalo Ridge Commitments - Mufti-Modal/Altemative Mobility: 34002 East Avon Access and Circulation ' 54,009 34004 Eagle River Bikepath 173,354 34005 Eagle River Bikepath - Beaver Creek Blvd to Conf. 80,152 34006 Nottingham Road / 1-70 bikepath 739,826 34007 Wildridge Traffic Calming & Pedestrian Circulation - Recreation: 51001 Nottingham Park Basketball Court 58,904 Stormwater and Drainage: 61001 Buck Creek / 1-70 to Eagle River _ 61002 Metcalf Rd. Drainage / 1-70 to Eagle River 76,922, Development Services: 65001 Village at Avon, Filing 1 _ 65002 Village at Avon, Filing 2 - 65004 Buffalo Ridge - Strategic Planning: Development Analysis and Review. 71001 Village @t (Avon) 3,385 71002 Downtown Master Plan - , 54,025 . 71003 Lot C 4,780 71004 Confluence / Beaver Creek Landing 6,525 79001 Planning and Consulting 15,474 Communications: 81001 800Mhz Radio System 30,000 Other: 24,276 $ - $ - $ 56,843 - - 34,321 - - - 143,521 200,000 235,000 35,000 176 90,000 90,000 - - '56,941 56,941 - 2,855,036 - 490,536 - - - 17,933 - - 15,883 1,249,000 1,249,000 - 657,048 - - - 12,896 - - 6,949 - - 397,163 - - - 5,215 - - - 25,000 25,000 - 91001 Fireplace Conversions 2,250 5.250 6,000 6,000 - Total Capital Improvement Projects $ 2,036,579 $ 4,623,046 $ 1,626,941 $ 1,661,941 $ 35,0000 3