TC Res. No. 2005-50 ADOPT THE 2006 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO
RESOLUTION NO.05-50 .
SERIES OF 2005
A RESOLUTION TO ADOPT THE 2006 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH
FUND AND ADOPTING A BUDGET FOR THE TOWN OF AVON, COLORADO, FOR
THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2006, AND
ENDING ON THE LAST DAY OF DECEMBER, 2006
WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager to
prepare and submit a proposed budget to said governing body on October 5, 2005, for its
consideration; and
WHEREAS, upon due and proper notice, published and posted in accordance with the
law, said proposed budget was open for inspection by the public at a designated place. A public
hearing was held on November 8, 2005, and interested taxpayers were given the opportunity to
file or register any comment to said proposed budget; 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 each fund are as follows for
2006:
2006
Proposed
Budget
General Fund
Beginning Fund Balance $ 4,986,441
Revenues and Other Sources 11,669,902
Expenditures and Other Uses 11,571,348
Ending Fund Balance $ 5,084,925
2006
Proposed
Budget
Mall Maintenance Fund
Beginning Fund Balance
$ 21,862
Revenues and Other Sources
71,033
Expenditures and Other Uses
86,385
Ending Fund Balance $ 6,510
Water Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Debt Service Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Avon Metropolitan District Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Transit Enterprise Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
2006
Proposed
Bud et
$ 927,372
222,000
701,001
$ 448,371
2006
Proposed
Budget
$ 589,697
1,356,519
1,353,519
$ 592,697
2006
Proposed
Budget
$ 42,089
483,306
483,306
$ 42.089
2006
Proposed
Budget
$ 113,099
2,206,594
2,095,781
$ 223,912
Resolution No. 05-50 - Adopt 2006 Budget
Page 2 of 3
2006
Proposed
Budget
Fleet Maintenance Enterprise Fund
Beginning Fund Balance $ 324,352
Revenues and Other Sources 1,960,934
Expenditures and Other Uses 1,912,162
Ending Fund Balance $ 373.124
2006
Proposed
Budget
Equipment Replacement Internal Service Fund
Beginning Fund Balance $ 1,274,730
Revenues and Other Sources 506,192
Expenditures and Other Uses 304,862
Ending Fund Balance 1.476.057
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 Mayor
and made part of the public record. of the Town.
ADOPTED this 22nd day of November 2005.
17
AT ST:
I .I , "bD
yY~a,o„o.,mo~,~ss TO O AVON, CO RADO
S E, A LJ onald C. Wolfe, Mayor
®
Resolution No. 05-50 - Adopt 2006 Budget
Page 3 of 3
Memo
TO: Honorable Mayor and Town Council
Tthru: Larry Brooks, Town Manager
Frorm Scott Wright, Finance Dire
Date: November 15, 2005
Re: Adoption of 2006 Budget
Summary:
The Town's final revised operating budgets for 2005 and the proposed 2006 operating budgets are
hereby submitted for adoption by the Avon Town Council. The proposed General Fund budget shows
a surplus of revenues over expenditures for 2006 of $98,554.
According to State Statute, because the Town levies a property tax, the budget must be adopted by
December 15, and filed with the Division of Local Governments no later than January 30. This budget
meets this and all other legal requirements for submission.
The resolutions levying property taxes for the General Fund and the Avon Metropolitan District will be
presented for adoption at the December 13th council meeting due to the timing of the receipt of the final
certification of assessed values from the County Assessor.
Previous Council Action:
Previously, the Town Manager presented his recommended budget at the Council budget retreat held
on October 5th and 6"'. Subsequent to the budget retreat certain changes were incorporated into the
budget at the request of Council. These changes include $72,812 in appropriations for a new GIS
position in the Community Development Department, $11,500 in additional advertising for the
Recreation Center, and $18,950 in additional support for non-profit organizations.
Finally, at the last council meeting a public hearing was held on the budget for members of the public to
comment.
Recommendation:
Staff recommends that Council adopt the resolutions discussed above as presented.
Town Manager Comments:
rj-~
Page 1
Attachments:
A - Resolution 05-50
B - Resolution 05-51
• Page 2
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