TC Res. No. 2005-15 AMEND THE 2005 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO
RESOLUTION NO. 05-15
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 CAPITAL PROJECTS FUND 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 capital
projects fund 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 capital projects fund
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 capital project fund is as
follows for 2005:
Original or
Previously
Amended
2005
Budget
Capital Proiects Fund
Beginning Fund Balance $ 6,062,470
Revenues and Other Sources 3,513,935
Expenditures and Other Uses 5,345,311
Current
Proposed
Amended
2005
t
Budge
$ 6,062,470
3,518,935
5,402,811
Ending Fund Balance 4.231.094 $ 4,178594
Section 2. That the capital projects fund budget, as submitted, amended, and hereinabove
summarized, hereby is approved and adopted as the capital projects fund 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 12th day of April 2005.
ATTEST:
Pat cKenny, To C rk
TOWN OF AVON, COLORADO
Ronald C. Wolfe, Mayor
Resolution No. 05-15 Amend 2005 CIP
Page 2 of 2
MUNICIPAL SERVICES
Capital Projects Fund #41 (REVISED 4/06/05)
- - - -
CIP rPrpjdcts nven ory--
Onainal or Final
Account
Number
Description
Actual
2003
Prev. Amend.
Budget
2004
Revised
Budget
2004
Proposed
Budget
2005
CAPITAL IMPROVEMENT PROJECTS
Facilities:
11006
Council Chambers Audio/Video Upgrade $
-
$ -
$
$ 70,000
14001 -
Transportation Center
800,000
2,000,000
ildingNew.Roof
600001!
Land and Land Improvements:
21004
Tract J Bridge Removal
25,640
-
-
-
21005
Wildridge Park Improvements and Playground
-
-
-
150,000
21006
Wildridge PocketPark - New Block 3 or 4
-
-
-
250,000
Roads and Streets:
Streetscape:
31006
Eaglebend Dr.
-
-
-
40,ob0
31008
Nottingham Rd. Imp. / 1-70 to Buck Creek
-
340,000 -
75,000
25,000
.31009
Nottingham Rd. Imp. / Buck Creek to Metcalf Rd.
1,902
-
-
-
Street Improvements:
32005
Buffalo Ridge Commitments
56,941
-
-
-
32007
Town Center-Mall'Plan Implementation
-
1,200,000
-
1,200,000
32008
E. Beaver Creek Blvd. Improvements
-
142,000
12,000
-
Annual Street Improvements:
33003
2003 Paving/Road Improvements
225,650
-
-
-
33004
2004 Paving/Road Improvements
-
205,000
205,000
33005
2005 Paving/Road Improvements
-
-
-
865,000
Multi-Modal/Altemative Mobility:
34002
East Avon Access and Circulation
18,126
-
-
-
34005
Eagle River Bikepath - Beaver Creek Blvd to Conf.
5,324
-
-
-
34007
Wildridge Traffic Calming & Pedestrian Circulation
-
20,000
-
34009
Swift Gulch Road Bikepath Extension
-
45,000
-
45,000
Recreation:
-
-
_ 51'002
-t~_ _
Eagle Rivefiit_-_ewater Park,
r W
-
-7;500
,
Stormwater and Drainage:
61001
Buck Creek / 1-70 to Eagle River
1,216,270
-
-
61003
Metcalf Rd. Drainage / 1-70 to Nottingham Rd.
-
65,000
405,000
-
61004
Nottingham-Puder Ditch Restoration
-
-
-
150,000
Development Services:
65004
Buffalo Ridge
.97,837
-
-
-
Strategic Planning:
79001
General Planning and Consulting
18,563
-
-
-
79002
Comprehensive Plan
-
85,000
95,000
-
79004
2004 General Planning and Consulting
-
25,000
25,000
79005
2005 General Planning and Consulting
-
-
-
25,000
Other: "
91001
Fireplace Conversions
3,000
-
-
93005
2005 Historic Preservation
-
-
25,000
94005
2005'Water Rights Acquisition
-
-
-
140,000
Total Capital Improvement Projects $
1,669,253
$ 2,927,000
. $ 817,000
$`5;042;500:1
Section 1, Page C-3
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Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Norman Wood, Town Engineer
Date: April 7, 2005
Re: Capital Improvements Fund Budget Amendment for Whitewater Park Design
and Municipal Building Roof - Resolution No. 05-15, Series of 2005
Summary: The attached Resolution No. 05-15, Series of 2005, Amending the
Capital Improvements Fund Budget has been prepared to provide funding for the preliminary
design of a Whitewater Park and installation of a new roof on the Municipal Building. The
proposed Amendment for a Whitewater Park on the Eagle River moves $7,500 of the
currently budgeted $100,000 from 2006 to 2005 in order to proceed with preliminary design
this year. The proposed budget Amendment also includes $5,000 in additional revenue from
other participants in the project.
The other change in the proposed amendment adds $50,000 to the Capital Projects Fund
expenditures in 2005 for re-roofing the Municipal Building. The $50,000 for re-roofing the
Municipal Building was taken out of the General Fund Budget but did not get included in the
Capital Improvements Fund Budget as intended when the 2005 Budget was originally
adopted last year. This is a relatively expensive item with a multi-year life making it a more
appropriate Capital Project Fund item than a maintenance item in the General Fund.
The revised sheets include changes to reflect actual revenues and expenditures in 2004 as well
as proposed changes to the Capital Improvement Program for 2005 and beyond. The revised
budget items are shaded to help identify the proposed changes. The Revised Capital Projects
Fund 5-Year Plan reflects a very healthy year-end fund balance ranging from a low of
$4,178,266 in 2005 to a high of $7,321,847 in 2008. Proposed project for the years 2010 and
beyond reflect a deficit fund balance of $11,055,574. However this negative fund balance
does not take into account projected revenues for 2010 and beyond.
We recommend council approve Resolution No. 05-15, Series of 2005, A Resolution
Amending the Capital Projects Fund Budget for 2005.
L:\Engineering\Administration\CIP Budget\2005\Budget Memo Res 05-15.Doc
Recommendation: Approve Resolution No. 05-15, Series of 2005, A
Resolution Amending the Capital Projects Fund Budget for 2005.
Proposed Motion: I move to approve Resolution No. 05-15-Series of 2005, A
Resolution Amending the 2005 Capital Projects Fund Budget.
Attachment:
A. Resolution No. 05-15, Series of 2005, .A Resolution Amending the 2005 Capital
Projects Fund Budget
B. Municipal Services Capital Projects Fund #41 Page C-3 (Revised)
C:., Capital Projects Fund 5-Year Plan Pages C-5, C-6, C-7 and C-8 (Revised)
Town, Manager Comments:
1:\Engineering\Administration\CUP Budget\2005\Budget Memo Res 05-15.Doc* Page 2