TC Res. No. 2007-46 ACCEPT THE PROPOSED TOWN OF AVON LONGTOWN OF AVON, COLORADO
RESOLUTION NO. 07-46
SERIES OF 2007
A RESOLUTION TO ACCEPT THE PROPOSED TOWN OF AVON LONG
RANGE CAPITAL PROGRAM AND SIMULTANEOUSLY ADOPT THE YEAR 2008
CAPITAL PROJECTS FUND BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR THE CAPITAL
PROJECTS FUND AND ADOPTING A BUDGET FOR THE CALENDAR YEAR
BEGINNING ON THE FIRST DAY OF JANUARY, 2008 AND ENDING ON THE.LAST
DAY OF DECEMBER, 2008.
. WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager to
prepare and submit a long-range capital program to said governing body for its consideration;
and
WHEREAS, the Town Council of the Town of Avon has also appointed the Town
Manager to prepare and submit a proposed Capital Projects Fund budget to said governing body
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 27, 2007, 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 Capital Projects Fund 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 the long-range capital program as submitted to the Town Council is
hereby accepted as an official Town document and planning tool, and that the information
contained therein may be revised or extended each year with regard to capital improvements.
Section 2. That estimated revenues and expenditures for the Capital Projects Fund are as
follows for 2008:
Resolution No. 07-46 Cl Budget 08
Page I of 2
2008
Proposed
Budget
Capital Projects Fund
Beginning Fund Balance $ 5,292,355
Revenues and Other Sources_ 10,247,204
Expenditures and Other Uses 7,494,332
Ending Fund Balance $ 8 M4 M7
Section 3. That the budget, as submitted, 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 4. 'That the, Capital Projects Fund budget hereby approved and adopted shall be
signed by the Mayor and made part of the public record of the Town.
ADOPTED this I Ith day of December, 2006.
~~~F AVON`''
,moo.
TOWN VON, COL 0.
Ronald C. Wolfe, Mayor
ATTEST:
P Mc fenny, wn lerk
Resolution No. 07-46 CI Budget 08
Page 2 of 2
al 44
o~-ate
ETow:nof Avon
Memo
To: Honorable Mayor and Town Council
Thru:. Larry Brooks; Town Manager
Fro m*:" Scott Wright, Asst Town Manager - Finan
Date: December 5, 2007
Re: 2008 Capital Project Fund Budget Adoption and
Acceptance of Long-range Capital Program
Summanâ–ş:
The town's final revised Capital Projects Fund budget for 2007` and. the proposed 2008 Capital
Projects Fund budget is hereby submitted for adoption by the Avon Town,Council. Also submitted for
acceptance by the Town Council is the long-range capital program (otherwise referred to as the 5-year
plan)
Previous Council'Action:
Concurrently with the .presentation of the Town's operating budgets; the Town Manager presented his
recommended Capital Projects Fund budget at the Council budget retreat held on October 16"' and
17th. A public hearing was held on November 271'. There were no comments from the public at that
time.
Recommendation:
Staff recommends that Council adopt the resolutions discussed above as presented, and accept the
long-range capital program as submitted.
Town Mana er Comments:
Attachments.
A - Resolution 07-44
B - Resolution 07-46
C -Capital Projects Fund Summary
D - Long-range Capital Program (5-year Plan)
Page 1
RESOLUTION NO. 07-44
SERIES OF 2007
A RESOLUTION TO AMEND THE 2007 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES AND
AMENDING THE 2007 CAPITAL PROJECTS FUND BUDGET FOR THE TOWN OF
AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST
DAY OF JANUARY, 2007, AND ENDING ON THE LAST DAY OF DECEMBER,
2007.
WHEREAS, the Town Council of the Town of Avon has adopted the 2007
Capital Projects Fund budget; and
WHEREAS, the Town Council. has reviewed the revised estimated revenues and
expenditures for 2007; and
WHEREAS, the Town Council finds it necessary to amend the 2007 Capital
Projects Fund budget to more accurately reflect the revenues and expenditures for 2007;
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 2007:
Original or Current
Previously Proposed
Amended Amended
2007 2006
- Budget Budget
Capital Projects Fund
Beginning Fund Balance. $ 7,731,519 $ 7,731,519
Revenues and Other Sources 7,344,752 7,137,337
Expenditures and Ot r Uses 10,383,07! 9,576,501
Ending Fund Balance 40693,200 5.292.355