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TC Res. No. 2005-37 AMEND THE 2005 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO RESOLUTION NO. 05-37 SERIES OF 2005 A RESOLUTION TO AMEND THE 2005 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES AND AMENDING TVE 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 has 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 Projects Fund is revised as follows for 2005: Original or Previously Amended 2005 Budget Capital Projects Fund Beginning Fund Balance $ 6,126,149 Revenues and Other Sources • 3,518,935 Expenditures and Other Uses 5,433,616 Current Proposed Amended 2005 Budget $ 6,126,149 3,515,209 3,632,631 Ending Fund Balance 4,211,468 6.008.727 Section 2. That the Capital Projects Fund budget, as submitted, amended, and hereinabove summarized, hereby is approved and adopted as the capital program budget of the Town of Avon for the year stated above. Section 3. That the Capital Projects Fund budget hereby approved, amended, and adopted shall be signed by the Town Manager and made part of the public record of the Town. ADOPTED this 11th day of October, 2005. % ®FTOWN AVON, C ORADO iISEALI t : Ronald C. Wolfe, Mayor ATTEST: ®COR N®0 P C. Patty Mc e y Town Cler 2 Capital Projects Fund #41 Amendment #5 - - - Fund mma , Original or Prev. Amended Proposed Difference Actual Actual Budget Budget Increase 2003 2004 2005 2005 (Decrease) REVENUES Taxes $ 2,224,452 $ 2,338,060 $ 2,100,000 $ 2,350,000 $ 250,000 Intergovernmental 297,837 200,000 1,049,000 230,290 (818,710) Investment Earnings 33,699 46,704 63,935 81,419 17,484 Other Revenue 7,987 27,712 16,000 318,500 302,500- _ Total Operating Revenues 2,563,975 2,612,476 3,228,935 2,980,209 (248,726) Other Sources: Transfer In from Other Funds 1,186,931 376,069 290,000 535,000 245,000 TOTAL REVENUES 3,750,906 2,988,545 3,518,935 3,515,209 (3,726) EXPENDITURES Capital Improvements: Facilities - - 2,120,000 1,168,050 (951,950) Land and Land Improvements 25,640 244 400,000 150,000 (250,000) Roads and Streets 307,943 287,199 2,175,000 1,435,000 (740,000) Recreation - - 38,305 30,905 (7,400) Stormwater and Drainage 1,216,270 376,069 150,000 150,000 - Development Services 97,837 - - - - Strategic Planning 18,563 91,120 25,000 284,700 259,700 Other 3,000 - 165,000 195,000 30,000 Developer Rebates 247,076 158,665, 300,000 158,665 (141,335) Total 1,916,329 913,297 5,373,305 3,572,320. . (1,800,985) Other Uses Operating Transfer-Out to General Fund 200,000 50,000 50,000 50,000 - Operating Transfer-Out to Wildridge S.I.D. 12,271 11,292 10,311 10,311 - TOTAL EXPENDITURES 2,128,600 974,589 5,433,616 3,632,631 (1,800,985) NET SOURCE (USE) OF FUNDS 1,622,306 2,013,956 (1,914,681) (117,422) 1,797,259 FUND BALANCE, Beginning of Year 2,489,887 4,112,193 6,126,149 6,126,149 - FUND BALANCE, End of Year 4,112,193 $ 6,126,149 $ 4,211,468 $ 6;008,727 $ 1,797,259 Page 1 6 Capital Projects Fund #41 Amendment #5 Original or Prev. Amended Proposed Difference Account Actual Actual Budget Budget Increase Number Description 2003 2004 2005 2005 (Decrease) - 'Taxes: - - 51401 Real Estate Transfer Tax $ 2,224,452 $ 2,338,060 $ 2,100,000 $ 2,350,000 $ 250,000 51000 ' Total Taxes Intergovernmental: Federal Grants: 53199 Community Development Block Grant 53199 FTA/CDOT Transportation Center Grant Local Government(Other Agency: 53401 ERWSD Sewer Line Reimb. 53401 Village at (Avon) 53401 Eaglebend Housing Authority 53000 Total Intergovernmental Investment Earnings: 57101 Interest Earnings 2,224,452 2,338,060 2,100,000 2,350,000 250,000 97,837 200,000 824,000 - (824,000) - - 5,290 5,290 200,000 200,000 200,000 - - 25,000 25,000 - 297,837 200,000 1,049,000 230,190 . -__.--(818,710)- 33,699 46,704 63,935 81,419 17,484 57000 Total Investment Earnings 33,699 46,704 63,935 81,419- - - _ 17,484 Other Revenues: 58102 Utility Capital Facility Fees 444 376 2,000 2,000 - 58104 Fireplace Fees 1,500 - 9,000 9,000 - 58211 Development Reimbursements 4,029 18,328 5,000 192,500 187,500 58211 Eagle River Enhancement Reimbursements - - - 107,500 107,500 58211 W. Avon Trails Reimbursement - - - 2,500 2,500 58999 Miscellaneous Nonclassified Revenues 2,014 9,008 - -5,000-- 5,000 58000 Total Other Revenues Other Sources: 59201 Transfer In from Other Funds 7,987 27,712 16,000 318,500 302,500 1,186,931 376,069 290,000 535,000 ' 245,000 59000 Total Other Sources 1,186,931 376,069 290,000 535,000 245,000 50000 TOTAL REVENUES $ 3,750,906 - $ 2,988,545 $ 3,518,935 $ 3,515,209 $ (3,726) Page 2 1Y Capital Projects'Fund #41 Amendment #5 - - JO,- .I-o-ects t~n~r~e~to . Original or Prev. Amended Proposed Difference Account Actual Actual Budget Budget Increase Number Description 2003 2004 2005 2005 (Decrease) CAPITAL IM_ PRO_ VEMENT PROJECTS Facilities- 11006 Council Chambers Audio/Video Upgrade $ - $ - $ 70,000 $ 70,000 $ - 11007 Municipal Building Roof Replacement - - 50,000 50,000 - 14001 Transportation Center - - `2,000,000 1,048,050 (951,950) Land and Land Improvements: Parks: 21004 Tract J Bridge Removal 25,640 244 - - - 21005 Wildridge Park Improvements and Playground - - 150,000 150,000 - 21006 Wildridge PocketPark - New Block 3 or 4 - - 250,000 - (250,000) Roads and Streets: Streetscape: 31006 Eaglebend Dr. - - 40,000 50,000 10,000 31008 Nottingham Rd. Imp. / 1-70 to Buck Creek - 73,694 25,000 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 - - 1,200,000 400,000 (800,000) 32008 E. Beaver Creek Blvd. Improvements - 6,585 - - - Annual Street Improvements: 33003 2003 Paving/Road Improvements 225,650 - - - - 33004 2004 Paving/Road Improvements - 205,735 - - - 33005 2005 Paving/Road Improvements - - 865,000 890,000 25,000 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 - 1,127 - - - 34009 Swift Gulch Road Bikepath Extension - 58 45,000 45,000 - 34010 Swift Gulch Rd. Bikepath from RA #1 - - - 20,000 20,000 34012 West Avon Trails and Access Enhancement - - - 5,000 5,000 Recreation: 51002 Eagle River Whitewater Park, Access & Viewing - - 38,305 30,905 (7,400) Stormwater and Drainage: 61001 Buck Creek / 1-70 to Eagle River 1,216,270 - - - - 61003 Metcalf Rd. Drainage / 1-70 to Nottingham Rd. - 376,069 - - - 61004 Nottingham-Puder-Ditch Restoration - - 150,000 150,000 - Development Services: 65004 Buffalo Ridge 97,837 - - - - Page 3 Capital Projects Fund #41 Amendment #5 CiP-'9o eats I nVf t f - Original or Prev. Amended Proposed Difference Account Actual Actual Budget Budget Increase Number Description 2003 2004 2005 2005 -(Decvease)_ CAPITAL IMPROVEMENT PROJECTS Strategic Planning:- Development Analysis and Review: 71004 Confluence / Westin Riverfront Resort - - - 175,000 175,000 71006 Sheraton Mountain Vista 2005 Application - - - 17,500 17,500 79001 General Planning and Consulting 18,563 - - - - 79002 Comprehensive Plan - 82,773 - 67,200 67,200 79004 2004 General Planning and Consulting - 8,347 - - - 79005 2005 General Planning and Consulting - - 25,000 25,000 - Other: 91001 Fireplace Conversions 3,000 93005 _ 2005 Historic Preservation - - 25,000 - (25,000) 93006 Historic Analysis Study - - - 25,000 25,000 94005 2005 Water Rights Acquisition - - 140,000 140,000 - 94006 RICD Water Rights Acquisition - - - 30,000 30,000 Total Capital Improvement Projects $ 1,669,253 $ 754,632 $ 5,073,305 $ 3,413,655 $ _ (1,659,650) Page 4