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TC Res. No. 2005-05 AMEND THE 2005 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO RESOLUTION NO. 05-05 SERIES OF 2005 A RESOLUTION TO AMEND THE 2005 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2005 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2005, AND. ENDING ON THE LAST DAY OF DECEMBER, 2005. WHEREAS, the'Town Council of the Town of Avon has adopted the 2005 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 2005; and WHEREAS, the Town Council finds it necessary to amend"the 2005 budget to more accurately reflect the revenues and expenditures for 2005; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so. that the budget remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN _COUNCIL,OF THE TOWN OF AVON, COLORADO: Section 1. That estimated revenues and expenditures for the following funds are amended as' follows for 2005: Original or Current Previously Proposed Amended Amended 2005 2005 Budget Budget General Fund Beginning Fund Balance, $ 3,880,135 $ 3,880,135 Revenues and Other Sources 10,404,024 10,413,978 Expenditures and Other Uses 10,380,196 10,398,356 Ending Fund Balance 3,903,963 $ 3,&95,= Resolution No. 05-05 Budget Amendment Page 1 of 2 Original or Previously Amended 2005' Budget Debt Service-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 $ 13,226 1,236,330 1,236,330 Current Proposed Amended 2005 Budget $ 13,226 1,213,121 1,213,121 $ 13,226 $ 1'3.226 Original or Previously Amended 2005 Budget $ 1,359,753 406,204 444,964 1,320,993 Current Proposed Amended 2005 . Budget $ 1,359,753 406,204 450,405 1,315.552 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 22°dday of February, 2005. , DY AVON, COL (:7 C. Wolfe, Mayor- ATTEST:- Patty c enny, T C k 9 E AL: ~16ii*R' Resolution No. 05-05 Budget Amendment Page 2 of 2 General Fund #ID Amendment #1 Fungj,NOina Final Original or Current Revised Prev. Amend. Proposed Difference Actual Budget Budget Amendment Increase 2003 2004 2005 2005 -(Decrease) REVENUES Taxes $ 6,396,695 $ 6,530,377 $ 7,017,344 $ 7,017,344 - Licenses and Permits 186,948 213,600 136,600 136,600 - Intergovernmental 623,070 697,440 -683,145 693,099 9,954 Charges for Services 1,655,017 1,876,089 1,965,579 1,965,579 - Fines and Forfeitures- 56,866 50,750 50,750 50,750 - Investment Earnings 102,573 125,000 150,000 150,000 - Other Revenue 265,693 234,702 272,106 - 272,106 - Total Operating Revenues 9,286,862 9,727,958 10,275,524 10,285,478 9,954 Other Sources Sales of Fixed Assets 378 1,500 1,500 1,500 - Transfer-In From Capital Projects Fund 200,000 50,000 50,000 50,000 - Capital Lease Proceeds 339,000 75,800 77,000 77,000 - Total Other Sources . 539,378 127,300 128,500 128,500 - TOTAL REVENUES $ 9,826,240 $ 9,855,258 $ - 10,404,024 $ 10,413,978 $ 9,954 EXPENDITURES - General Govemment $ 1,432,538 $ 1,584,847 $ 1,650,019 $ 1,653,519 $ 3,500 Community Development 416,569 507,129 523,231 523,231 - Public Safety 1,557,109 1,648,650 1,701,184 1,712,244 11,060 Public Works 2,515,157 2,629,455 2,799,207 2,799,207 - Recreation and Culture 1,939,224 2,040,771 - 2,108,253 2,111,853 3,600 Total Operating Expenditures 7,860,597 8,410,852. 8,781,894 8,800,054 18,160 _ Other Uses Transfers-Out to Mall Maintenance - - 15,000 15,000 Transfers-Out to Debt Service 480,120 480,120 482,615 482,615 - Transfers-Out to Wildridge SID - - 2,500 8,000 8,000 - Transfers-Out to Finance Authority 140,059 137,999 132,687 132,687 - Transfers-Out to Transit 700,000 390,000 800,000 800,000 - Transfers-Out to Sherwood Meadows 150,000 123,964 - - - Transfers-Out to Fleet Maintenance 220,000 190,000- 160,000 160,000 Total Other Uses 1,690,179 1,324,563 1,598,302 1,598,302 - TOTAL EXPENDITURES 9,550,776 9,735,435 10,380,196 10,398,356 18,160 NET SOURCE (USE) OF FUNDS 275,464 119,823 23,828 15,622 (8,206) FUND BALANCES, Beginning of Year 3,484,848 3,760,312 3,880,135 3,880,135 - FUND BALANCES, End of Year $ 3,760,312 - $ 3,880,135 $ 3,903,963 . $ 3,895,757 - $ _(8,206) Page 1 General Fund #10 Amendment #1 - 17, 7,7 Reventsefai _ o Final Original or Current Revised Prev. Amend. Proposed Difference Account - Actual Budget Budget Amendment Increase Number Description 2003 2004 2005 2005 (Decrease) Taxes: 51101 General Property Tax $ 1,290,623 $ 1,309,558 $ 1,370,489 $ 1,370,489 $ - 51102 General Property Tax - Delinquent Collections - 100 ' 100 100 - 51103 General Property Tax - Interest 2,642 1,500 1,500 1,500 - 51201 Specific Ownership Tax 147,760 155,000 155,000 155,000 - 51301 Sales Tax 4,125,558 3,989,977 4,106,378 4,106,378 - 51302 Utility Tax 116,981 125,000 130,000 130,000 - 51303, Accommodation Tax - - 322,400 322,400 - 51304 Penalties and Interest 18,407 15,000 15,000 15,000 - 51305 Sales Tax Audit Assessments - - 20,000 20,000 - 51306 Payments In-Lieu-Of Sales Tax 449,231 629,242 576,477 576,477 - 51402 Franchise Fees 245,493 305,000 320,000 320,000 - 51000 Total Taxes 6,396,695 6,530,377 7,017,344 7,017,344 - Licenses and Permits: 52101 Liquor Licenses 5,736 3,500 3,500 3,500 - 52102 Business Licenses 20,415 20,000 20,000 20,000 - 52103 Contractor's Licenses 13,715 10,000 10,000 10,000 - 52201 Building Permits 111,951 150,000 82,000 82,000 - 52203 Plumbing Permits 12,990 12,000 7,500 7,500 - 52204 Mechanical Permits 14,992 12,000 7,500 7,500 - 52205 Road Cut Permits 7,149 6,000 6,000 6,000 - 52206 Other Licenses and Permits - 100 100 100 - 52000 Total Licenses and Permits 186,948 213,600 136,600 136,600 - Intergovernmental: Federal Grants: 53199 Other Federal Grants 15,151 8,640 - - - Subtotal: Federal Grants 15,151 8,640 - - - State Grants 53299 Other 11,212 12,000 - 9,954 9,954 Subtotal: State Grants 11,212 12,000 - 9,954 9,954 State/County Shared Revenue: 53301 Conservation Trust 53,824 53,000 53,000 53,000• - 53302 Motor Vehicle Registration 20261 20,000 20,000 20,000 - 53303 Highway User's Tax 141,582 141,759 147,645 147,645 - 53304 Cigarette Tax 35,255 35,000 35,000 35,000 - 53305 County Sales Tax 224,836 304,541 305,000 305,000 - 53306 Road & Bridge Fund 120,949 122,500- 122,500 122,500 - Subtotal: Shared Revenue 596,707 676,800 683,145 683,145 - 53000 Total Intergovernmental _ 623,070 697,440 683,145 693,099 9,954 Page 2 General Fund #10 Amendment #1 Detail- Final Original or Current Revised Prev. Amend. Proposed Difference Account Actual Budget Budget Amendment Increase Number_ - Description 2003 2004 2005 - 2005 (Decrease) Charges for Services: General Government: 54101 Sale of Map and Publications 361 500 500 500 - 54102 Photocopying Charges 1,483 1,500 1,500. 1,500 - 54103 License Hearing Fees 100 100 100 100 - 54104 Other Fees and Charges' 1,844 1,500 1,500 1,500 - .64201 Plan Check Fees 98,549 85,000 59,800 59,800 - 54202 Subdivision Review Fees 218,058 94,000 15,000 15,000 - 54203 Design Review Fees 34,305 20,000 15,000 15,000 - 54204 Animal Control Fees 120 .120 100 100 - 54205 Abatement Services 1,535 100 100 100 - 54801 Police Reports - 6,032 6,000 6,000 6,000 - 54302 Police Contract Services 4,713 6,750 6,750 6,750 - 54303 Fingerprinting Fees 1,872 2,500 2,500 2,500 - 54304 VIN Inspection Fees 11,718 17,750 17,750 17,750 - 54305 False Alarm Fees/Misc Police Dept Fees - - - - - 54452 • Sherwood Meadows Maintenance Charges 1,531 - - - - 54453 Village at (Avon) Municipal Services 143,310 396,005 521,268 521,268 - Subtotal: General Govern. 525,531 631,825 . 647,868 . 647,868 Recreation Facility: 54601 Admission Fees 836,190 953,794 998,458 998,458 - 54602 Program Fees . 39,148 40,546 40,546 40,546 - 54603 Rentals 3,192 500 4,000 4,000 - 54604 Merchandise Sales 8,111 10,400 10,400 10,400 - 54605 Childcare 12,711 17,000 17,000 17,000 - 54606 Rec Center Services 16,292 17,006 17,000 17,000 - 54607 Fitness Program Revenues ' 8,626 6,554 8,947 8,947 - 54668 Locker Rental 150 150 300 300 - Other Recreation: 54651 Adult Program Revenues 14,770 14,720 15,740 15,740 - 54652 Cabin Equipment Rentals 38,119 30,600 30,600 30,600 - 54653 Athletic Field Rentals 2,224 4,000 3,600 3,000 - 54654 Cabin Concessions 5,223 4,000 5,000 5,000 - 54655 Youth Program Revenues 71,344 _ 50,000 61,720 61,720 - 54676 Sponsorships 50,050 72,000 82,000 82,000 - 54677 Advertisements - 3,750 5,000 5,000 5,000 - 54678 'Event Fees 19,586 18,000 18,000 18,000 - Subtotal: Recreation 1,129,486 1,244,264 1,317,711 1,317,711 - 54000 Total Charges for Services 1,655,017 1,876,089 1,965,579 1,965,579 - Page 3 -"1 General Fund #10 Amendment #1 euenue _etai ; Final Original or Current Revised Prev. Amend. Proposed Difference Account - Actual Budget Budget Amendment Increase Number Description 2003 2004 2005 2005 (Decrease) Fines and Forfeitures: - 55101 Court Fines - Traffic 19,767 15,000 15,000 15,000 - W U Court Fines - Criminal 26,661 25,000 25,000 25,000 - 55103 Court Fines - Parking 3,357 5,000 5,000 5,000 - 55104 Court Fines - General - 500 500 500 - 55105 Court Costs 4,908 4,000 4,000 4,000 - 55106 Jury Fees 35 200 200 200 - 55107 Bond Forfeitures 900 900 900 900 - 55108 Miscellaneous Court Revenues 1,238 150 '150 150 - 55000 Total Fines and Forfeitures Investment Earnings:. 57101 Interest 57000 Total Investment Earnings Other Revenues: 58101 Recreational Amenity Fees 58103 Recreational Impact Fee 58106 Community Enhancement Fees 58109 Debt Issuance Fees 58201 Lease of Town-Owned Property 58999 Miscellaneous Nonclassified Revenues 58000 Total Other Revenues' 50000 TOTAL REVENUES 56,866 50,750 50,750 50,750 - 102,573 125,000 150,000 150,000 102,573 125,000 150,000 150,000 - 89,612 135,978 171,206 171,206 - 70,224 - - - - 44,767 42,824 45,000 45,000 - 20,997 11,900 11,900 11,900 - 1,000 4,000 4,000 4,000 - 39,093 40,000 40,000. 40,000 - 265,693 234,702 272,106 272,106 $ 9,286,862 9,727,658 - 10,275,524 $ 10,285,478 $ 9,954 Page 4 General Fund #10 Amendment #1 D' ent Ex en~l t t Summaries A Final Original or Current Revised Prev. Amend. Proposed' Difference Dept./Div. Actual Budget Budget Amendment Increase Number Description 2003 2004 2005 2005 (Decrease) General Government: Legislative: 111 Mayor and Town Council 112 Boards and Commissions 113 Town Attorney 114 Public Relations 115 Town Clerk Total Legislative Judicial: 121 Municipal Court Executive: 131 Town Manager 132 Human Resources Total Executive Finance Department: 141 Finance 142 Information Systems 149 Nond _ - rtmental Total Financial Administration Total General Government $ 92,299 $ 95,752 $ 103,392 $ 103,392 $ - 11,591 15,342 15,602 15,602 - 62,860 106,000 80,000 80,000 - 75,658 72,890 97,010 100,510 .,-3,500 77,842 100,889 91,718 91,71a 320,250 390,873 387,722 391,222 3,500 68,967 77,236 85,318 85,318 - 213,099 236,083 252,254 252,254 - 107,643 113,958 113,518 113,518 - 320,742 350,041 365,772 365,772 - 416,985 451,766 479,409 479,409 - 114,710 128,761 131,588 131,588 - 190,884 186,170 200,210 200,210 - 722,579 766,697 811,207 811,207 - 1,432,538, 1,584,847 1,650,019 1,653,519 3,500 Community Development: 211 Administration 100,926 112,855 129,659 -129,659 - 212 Planning 121,773 166,986 210,712 210,712 - 213 Building Inspection 193,870 227,288 182,860 182,860 - Total Community Development 416,569 507,129 523,231 523,231 - Police Department: 311 Administration 262,510 270,550 278,010 278,010, - 312 Patrol 1,131,195 1',286,772 1,325,450 1,336,510 11,060 313 Investigations 82,300 91,328 97,724 97,724 - 315 Neighborhood Services 81,104 - - - - - Total Police 1,557,109 1,648,650 1,701,184 1,712,244 11,060 Page 5 q General Fund #10 Amendment #1 tie a_,ttmentx enditul~Summares Final Original or Current Revised 'Prev. Amend. Proposed Difference Dept./Div. Actual Budget Budget Amendment Increase Number Description 2003 2004 2005 2005 (Decrease) - Public Works: 411 Administration 127,614 89,504 92,174 92,174 - ,412 Engineering 336,581 278,031• 273,012 273,012 - 413 Roads and Streets 1,057,039 1,127,727 1,204,025 1;204,025 - 414 Facilities Maintenance 289,914 334,542 385,388 385,388 - 415 Parks 704,009 799,651 844,608 8441608 - - - Total Public Works 2,515,157 2,629,455 2,799,207 2,799,207 - Recreation and Culture: 513 Special Events 183,969 237,333- 238,260 238,260 - 514 Administration 333,844 309,840 294,144 294,144 - 515 Adult Programs 83,476 87,242 45,346 45,346 - 516 Aquatics 377,420 372,447 380,250 380,250 - 517 Childcare - 54,501 62,531 37,688 37,688 - 518 Fitness 127,389 102,269 99,265 99,265 - 519 Front Desk 198,548 225,630 267,680 271,280 3,600 520 Maintenance 495,561 569,720 610,936 610,936 - 521 Youth Programs 84,516 73,759 87,483 87,483 - 522 Cabin - - 47,201 47,201 - Total Recreation and Culture 1,939,224 2,040,771 2,108,253 2,111,853 3,600 TOTAL OPERATING EXPENDITURES 7,860,597 $ 8,410,852 $ 8,781,894 $ 8,800,054 $ 18,160 Page 6 \C1 Debt Service Fund #31 Amendment #1 Final Original or Current Revised Prev. Amend., Proposed Difference Account Actual Budget Budget Budget Increase Number Description 2003 2004 2005 2005 (Decrease) REVENUES Taxes: 51101 General Property Taxes $ 760,568 $ 743,993 $ 753,715 $ 730,506 $ (23,209) 51,102 Property Tax - Delinquent - - - - - 51103 Property Tax - Interest & Penalties 1,554 - - - - 51000 Total Taxes 762,122 743,993 753,715 730,506 (23,209) Other Sources: ' 59201 'Transfers-In from General Fund 480,120 480,120 482,615 482,615 50000 TOTAL.REVENUES 1,242,242 1,224,113 1,236,330 1,213,121 (23,209) EXPENDITURES Debt Service: 916 Series 1996, G.O. Refunding Bonds: 65101 Principal 405,000 420,000 440,000 "440,000 - 65102 Interest 141,503 112,265 101,790 101,790 - 917 Series 1997, G.O. Bonds 65101 Principal 5,000 5,000 5,000 5,000 - 65102 Interest 186,926 186,698 186,698 480 (186,218) 922 Series 1997, G.O. Refunding Bonds 65101 Principal - - - - - 65102 Interest - - - 163,478 163,478 919 Series 1999, Sales Tax Revenue Refunding Bonds 65101 Principal 295,000 305,000 320,000 320,000 - 65102 Interest 185,120 174,205 162,615 162,615 - 65103 Fiscal Agent Fees 1,573 5,000 5,000 5,000 - 64303 County Treasurer Fees - 15,248 14,880 15,227 14,758 (469) 60000 TOTAL EXPENDITURES 1,235,369 _ 1,223,048- 1,236,330 1,213,121 (23,209) NET SOURCE (USE) OF FUNDS 6,873 1,065 - - - - FUND BALANCES, Beginning of Year 5,288 12,161 13,226 13,226 - FUND BALANCES, End of Year $ 12,161 $ 13,226 $ 13,226 $ 13,226 $ - Page 1 _ \\1 Equipment Replacement Internal Service Fund #63 Amendment #1 Fund Summa Final Original or Revised Prev. Amend. Proposed Difference Actual Budget Budget Budget Increase 2003 2004 2005 2005 (Decrease) REVENUES Charges for Services $ 373,768 $ 394,379 $ 406,204 $ 406,204 $ - Other Revenue - 45,302 - - - Total Operating Revenues 373,768 439,681 406,204 406,204 - Other Sources Capital Lease Proceeds 5,750 17,370 - - - TOTAL REVENUES 379,518 457,051 406,204 406,204 - EXPENDITURES Capital Outlay: Fleet and Heavy Equipment - - 206,552 247,410 247,410 - Recreation Center Equipment 2,460 50,535 151,790 157,231 5,441 Computer and Office Equipment 40,686 12,960 45,764 45,764 - TOTAL EXPENDITURES NET SOURCE (USE) OF FUNDS 43,146 270,047 444,964 450,405 5,441 336,372 187,004 (38,760) (44,201) (5,441) FUND BALANCES, Beginning of Year 836,377 1,172,749 1,359,753 1,359,753 - FUND BALANCES, End of Year $ 1,172,749 $ 1,359,753 $ 1,320,993 $ 1,315,552 $ (5,441) Page 1 Memo To: Honorable Mayor and Town Council Thru: Lang Brooks, Town Manager From: Scott Wright, Finance Director Date: February 17, 2005 Re: Resolution 05-05, Budget Amendment Summary: A budget amendment is proposed to the General Fund, Debt Service Fund and Equipment Replacement Fund for various changes since the 2005 budget was adopted in November. These changes are summarized below by fund. Background: The Municipal code allows the Town Council the ability to make changes to the adopted budget through periodic amendments. Historically, the Town has amended the budget when additional appropriations are necessary or when significant new revenues are identified. Financial Implications: General Fund There are a number of changes to the General Fund that result in a net $8,206 decrease of estimated ending fund balance for 2005: • Carry-over from 2004 appropriations for the You-Are-Here sign program in the amount of $3,500. The new signs were originally due to arrive around Thanksgiving. Net match for Federal grant to Police Department from U.S. Dept. of Justice for purchase of computers - $1,106. Total grant is $11,060. The Town is required to match 10% of the grant. This grant was approved late in 2004 and mistakenly excluded from the original 2005 budget. • New appropriation of $3,600 for replacement of the pass printer at the Recreation Center. Page 1 Debt Service Fund In December, the 1997 General Obligation Bonds originally issued for construction of the roundabouts were refunded. The refunding took place after the 2005 budget was adopted so this amendment reflects a reduction in debt service expenditures for 2005 of $23,209, and an offsetting reduction in property tax revenues that occurred by reducing the debt service mill levy for 2005. Equipment Replacement Fund Replacement of the security system at the Recreation Center was originally scheduled for 2004, and funds have already been set aside. However, new systems were still being evaluated through the end of the year so a purchase was not made. This amendment appropriates $5,441 for this replacement. Recommendation: Staff recommends that Council adopt the resolution discussed above as presented. Town Manager Comments: ) Attachments: A - Resolution 05-05 B - General Fund Amendment #1, Pages 1-6 C - Debt Service Fund Amendment #1, Page 1 D - Equipment Replacement Fund Amendment #1, Page 1 • Page 2