TC Res. No. 2006-34 AMEND THE 2006 TOWN OF AVON CAPITAL PROJECTSTOWN OF AVON, COLORADO
RESOLUTION NO. 06-34
SERIES OF 2006
A RESOLUTION TO AMEND THE 2006 TOWN OF AVON CAPITAL PROJECTS
FUND BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND
AMENDING THE 2006 CAPITAL PROJECTS FUND 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 adopted the 2006 Capital
Projects Fund budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures
for 2006; and
WHEREAS, the Town Council finds it necessary to amend the 2006 Capital Projects
Fund budget to more accurately reflect the revenues and expenditures for 2006; 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
amended as follows for 2006:
Original or
Previously
Amended
2006
Budizet
Capital Proiects Fund
Beginning Fund Balance $ 5,968,727
Revenues and Other Sources 4,544,270
Expenditures and Other Uses 8,173,105
Current
Proposed
Amended
2006
Budget
$ 7,457,796
4,544,270
8,673,560
Ending Fund Balance 2,339,892 3,328,506
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 and adopted shall be
signed by the Town Manager and made part of the public record of the Town.
ADOPTED this 8th day of August, 2006.
. F,
E A I t
! J
ATTEST:
Pa M Kenny, To JCle k
Resolution No. 06-34 Amended Capital Projects 2006
Page 2 of 2
Capital Projects Fund #41
Amendment No. 2
,
.
Fuhd'SWO, a
77 -77
Original or
Proposed
Prev. Amended
Revised Difference
Actual
Actual
Budget
Budget Increase
2004
2005
2006
2006 (Decrease)
REVENUES
Taxes
$ 2,338,060
$ 3,254,490
$ 2,500,000
$ 2,500,000 $ -
Intergovernmental
200,000
236,110
1,214,296
1,214,296 -
Investment Earnings
46,704
79,058
85,974
85,974 -
Other Revenue
27,712
320,074
99,000
99,000 -
Total Operating Revenues 2,612,476 3,889,732 3,899,270 3,899,270 -
Other Sources:
Transfer In from Other Funds 376,069 260,363 645,000 645,000 -
TOTAL REVENUES 2,988,545 4,150,095 4,544,270 4,544,270 -
EXPENDITURES
Capital Improvements:
Facilities
-
1,092,017
1,767,610
1,767,610 -
Land and Land Improvements
244
119,091
90,000
90,000 -
Roads and Streets
287,199
1,050,739
4,634,000
4,634,000 -
Recreation
-
89,321
231,495
731,950 500,455
Stormwater and Drainage
376,069
-
40,000
40,000 -
Strategic Planning
91,120
270,950
400,000
400,000 -
Other
-
3,920
485,000
485,000 -
Developer Rebates
158,665
132,099
475,000
475,000 -
Total Capital Improvements
913,297
2,758,137
8,123,105
8,623,560 500,455
Other Uses
Operating Transfer-Out - General Fund 50,000 50,000 50,000 50,000 -
Operating Transfer-Out - Wildridge S.I.D. 11,292 10,311 - - -
Total Other Uses 61,292 60,311 50,000 50,000 -
TOTAL EXPENDITURES
974,589
2,818,448
8,173,105
8,673,560
500,455
NET SOURCE (USE) OF FUNDS
2,013,956
1,331,647
(3,628,835)
(4,129,290)
(500,455)
FUND BALANCE, Beginning of Year
4,112,193
6,126,149
5,968,727
7,457,796
1,489,069
FUND BALANCE, End of Year
$ 6,126,149
$ 7,457,796
$ 2,339,892
$ 3,328,506 $
988,614
Page 1
Capital Projects Fund #41
Amendment No. 2
Revenue Deta r
-
Original or
Proposed
Prev. Amended
Revised Difference
Account
Actual
Actual
Budget
Budget Increase
Number Description
2004
2005
2006
2006 (Decrease)
Taxes:
51401 Real Estate Transfer Tax
$ 2,338,060 $
3,254,490
$ 2,500,000
$ 2,500,000 $ -
51000 Total Taxes
2,338,060
3,254,490
2,500,000
2,500,000 -
Intergovernmental:
Federal Grants:
53199 CDOT Enhancement Funds Grant
53199 FTA/CDOT Transportation Center Grant
State Grants:
53299 Colorado Historical Society
Local Government/Other Agency:
53401 Vail Valley Foundation (Historical Preservation)
53401 Village at (Avon)
53401 Confluence Metro District
53401 Eaglebend Housing Authority
53401 ERWSD Sewer Line Replacement
53000 Total Intergovernmental
Investment Earnings:
57101 Interest Earnings
57000 Total Investment Earnings
Other Revenues:
58102 Utility Capital Facility Fees
58104 Fireplace Fees
Reimbursements:
58211 Sheraton Mountain Vista - 2005 Application
58211 Confluence - East West Partners
58211 Eagle River Enhancement Project - East West Part
58211 Eagle River Enhancement Project - Eagle County
58211 Eagle River Enhancement Project - BCRC
58211 W. Avon Trails - Berry Creek Metro District
58999 Miscellaneous Nonclassified Revenues
58000 Total Other Revenues
149,000 149,000 -
- 680,296 680,296
3,920 - - -
- 1,000
-
- -
200,000 200,000
200,000
200,000 -
- -
160,000
160,000 -
- 25,000
25,000
25,000 -
- 6,190
-
- -
200,000 236,110
1,214,296
1,214,296 -
46,704 79,058 85,974 85,974 -
46,704 79,058 85,974 85,974 -
376 319 - - -
- 1,500 9,000 9,000 -
9,649 - - -
- 188,133 - - -
r - 2,500 50,000 50,000 -
- 50,000 - - -
- 55,000 - - -
9,438
- - 40,000 40,000 -
27,336 3,535 - - -
27,712 320,074 99,000 99,000
Other Sources:
59201 Transfer In from Other Funds 376,069 260,363 645,000 645,000 -
59000 Total Other Sources 376,069 260,363 645,000 645,000 -
50000 TOTAL REVENUES $ 2,988,545 $ 4,150,095 $ 4,544,270 $ 4,544,270 $ -
Page 2
Capital Projects Fund #41
Amendment No. 2
CIP Projects Inventory
Original or
Proposed
Prev. Amended
Revised
Difference
Account
Actual
Actual
Budget
Budget
Increase
Number
Description
2004
2005
2006
2006
(Decrease)
CAPITAL IMPROVEMENT PROJECTS
Facilities:
11006
Council Chambers Audio/Video Upgrade
$ - $
64,581
$ -
$ -
$ -
11007
Municipal Building Roof
-
43,996
-
-
-
13004
Nottingham Lake Pump Station Expansion
-
-
75,000
75,000
-
14001
Transportation Center
-
983,440
992,610
992,610
-
19001
Municipal Parking Facilities
-
-
700,000
700,000
-
Land and Land Improvements:
21004
Tract J Bridge Removal
244
-
45,000
45,000
-
21005
Wildridge Park Improvements and Playground
-
119,091
-
-
-
21007
1-70 Entrace Sign Removal
-
-
45,000
45,000
-
Roads and Streets:
Streetscape:
31006
Eaglebend Dr.
-
52,584
700,000
700,000
-
31008
Nottingham Rd. Imp. / 1-70 to Buck Creek
73,694
24,153
-
-
-
31010
Lighting Study and Conversion
-
-
204,000
204,000
-
Street Improvements:
32007
Town Center West / Mall
-
121,152
2,800,000
2,800,000
-
32008
E. Beaver Creek Blvd. Improvements
6,585
-
-
-
-
Annual Street Improvements:
33004
2004 Paving/Road Improvements
205,735
-
-
-
33005
2005 Paving/Road Improvements
-
803,635
-
-
-
33006
2006 Paving/Road Improvements
-
-
315,000
315,000
-
Multi-Modal/Altemative Mobility:
34007
Wildridge Traffic Calming & Pedestrian Circulation
1,127
-
250,000
250,000
-
34009
Swift Gulch Road Bikepath Extension
58
28,195
-
-
-
34010
Swift Gulch Rd. Bikepath
-
21,020
260,000
260,000
-
34011
Wildridge Emergency Access
-
-
25,000
25,000
-
34012
West Avon Trails and Access Enhancement
-
-
80,000
80,000
-
Recreation:
51002
Eagle River Enhancement Project
-
33,856
161,495
523,950
362,455
94006
RICD Water Rights Acquisition
-
55,465
70,000
208,000
138,000
Stormwater and Drainage:
61003
Metcalf Rd. Drainage / 1-70 to Nottingham Rd.
376,069
-
-
-
-
61005
W. Beaver Creek Blvd. / 1-70 to Railroad
-
-
40,000
40,000
-
Strategic Planning:
Development Analysis and Review:
71004
Confluence / Westin Riverfront Resort
-
187,787
-
-
-
71005
The Gates
-
678
-
-
-
71006
Sheraton Mountain Vista 2005 Application
-
9,649
-
-
-
71007
Town Center East Commercial District
-
-
150,000
150,000
-
Page 3
Capital Projects Fund #41
Amendment No. 2
- _~2,'<'~^~ ~si e~,xi'. -,it<<,a_: x.w~~as;:.ViQ~rOBG~SI'~nrl/ellt~~~~'~ _ .r,
,p,
t .;~.~,.~{b.„,,•
Original or
Proposed
Prev. Amended
Revised
Difference
Account
Actual Actual
Budget
Budget
Increase
Number
Description
2004 2005
2006
2006
(Decrease)
CAPITAL IMPROVEMENT PROJECTS
Planning and Consulting:
79002
Comprehensive Plan
82,773 65,381
25,000
25,000
-
79004
2004 General Planning and Consulting
8,347 -
-
_
_
79005
2005 General Planning and Consulting
- 7,455
-
-
-
79006
2006 General Planning and Consulting
- -
25,000
25,000
-
79101
Nottingham Park Master Plan
- -
50,000
50,000
-
79102
Pedestrian Circulation Plan
- -
100,000
100,000
-
79103
Retail Analysis
- -
50,000
50,000
-
Other:
93005 Historic Preservation - 3,920 25,000 25,000 -
94005 Water Rights Acquisition - - 460,000 460,000 -
Total Capital Improvement Projects $ 754,632 $ 2,626,038 $ 7,648,105 $ 8,148,560 $ 500,455
Page 4
•
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Norman Wood, Town Engineer
Date: August 3, 2006
Re: Resolution No. 06-34, A Resolution to Amend the 2006 Town of Avon
Capital Projects Fund Budget
Summary: Resolution No. 06-34, Series of 2006, A Resolution to Amend the 2006
Town of Avon Capital Projects Fund Budget (Exhibit A) amends the budget to reflect an
increased Beginning Fund Balance and increased costs for the Eagle River Recreation
. Enhancement Project and the related RICD Water Rights Acquisition. The Beginning Fund
Balance is increased by $1,489,069 to $7,457,796 reflecting final revenues and expenditures
at the end of the 2005 Budget Year. Proposed Expenditures for 2006 are increased by
$500,455 to $8,673,560. The increased expenditures for 2006 include $362,455 for the Eagle
River Recreation Enhancement Project and $138,000 for the RICD Water Rights Acquisition.
The net result of the proposed Amendment is an increase of $988,614 in the Ending Fund
Balance to $3,328,506.
Approval of Resolution No. 06-34, Series of 2006, A Resolution to Amend the 2006 Town of
Avon Capital Projects Fund, is recommended.
Discussion:
Eagle River Recreation Enhancement Project: The current budget, which was
based on a very preliminary construction cost estimate, for Eagle River Recreation
Enhancement Project is $161,495. Based upon the one bid received for construction, a
negotiated contract price for construction as recommended for approval by Council and the
administrative and design costs incurred to date, we recommend project budget as follows:
Construction (Base, T & M, Direct ToA) $ 455,000
Easement Acquisition (Surveying, Legal, Title, Etc.) 29,000
Engineering (Design & Construction Monitoring) 12,000
Project Administration 3,000
is Contingencies @ 5% 24,950
Total Recommended Project Budget $ 523,950
I:\Engineenng\AdmmistMtion\CJP Budget\2006\Res 06-34 Amnd No 2-Memo.Doc
RICD Water Rights Acquisition: The current 2006 Budget for RICD Water Rights •
Acquisition is $70,000. This was based on a multi-year project budget as follows:
2005 2006 2007 2008 Total
$70,000 $70,000 $80,000 $80,000 $300,000
Based upon expenditures to date, anticipated schedules and estimates provided Gary Greer;
we propose amending the budget for this Project as follows:
Actual 2006 2007 2008 Total
$55,465 $208,000 $33,000 $95,000 $391,465
This proposed budget anticipates continued negotiations with Objectors, CWCB hearing at
their November 2006 meeting and a Water Court Date in 2008. This proposed budget
schedule reflects the legal and engineering required at the front end to develop the required
reports and information required by the CWCB and in response to Objectors questions and
concerns that arise in the individual negotiations. After the CWCB hearing, a relatively small
amount of activity is anticipated until a short time before the Water Court date which is
anticipated to be in 2008.
Resolution No. 06-34, amends the 2006 Capital Projects Fund Budget in accordance with the
revised budget schedule as recommended. If this Resolution is approved the Five-Year Plan
in the 2007 Capital Projects Fund Budget will include this change as well as the budget
schedule as recommended above. 0
Recommendation: We recommend approval of Resolution No. 06-34, Series of
2006, A Resolution to Amend the 2006 Town of Avon Capital Projects Fund Budget.
Proposed Motion: I move to approve Resolution No. 06-34, Series of 2006, A
Resolution to Amend the 2006 Town of Avon Capital Projects Fund Budget.
Town Manager Comments:
Attachments:
Exhibit A Resolution No. 06-34 0
IAEngineering\Admini= ion\CIP Budget\2006Aes 06-34 A=d No 2-Me=.Doc 2