TC Res. No. 2008-42 Amend the 2008 TOA budgetTOWN OF AVON, COLORADO
. RESOLUTION NO. 08-42
SERIES OF 2008
A RESOLUTION TO AMEND THE 2008 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES
AND AMENDING THE 2008 CAPITAL PROJECTS FUND BUDGET FOR THE TOWN
OF AVON, COLORADO, 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 adopted the 2008 Capital
Projects Fund budget; and
WHEREAS, the Town Council has reviewed the revised estimated revenues and
expenditures for 2008; and
WHEREAS, the Town Council finds it necessary to amend the 2008 Capital Projects
Fund budget to more accurately reflect the revenues and expenditures for 2008; 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 2008:
Original or
Previously
Amended
2008
Budget
Capital Projects Fund
Beginning Fund Balance $ 6,693,875
Revenues and Other Sources 4,914,448
Expenditures and Other Uses 7,045,334
Current
Proposed
Amended
2008
Budget
$ 6,693,875
4,840,476
6,400,334
Ending Fund Balance 4,562.989 5,134,017
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 November, 2008.
ATTEST:
Pa Mc enrr
To C1 rk
TOWN
9G
lp9ADO.
O AVON, RADO
Ronald C. Wolfe, Mayor
Resolution No. 08-42 08 Final Amended CIP
Page 2 of 2
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
Froere: Scott Wright, Asst. Town Manager - Finance
Da.: November 6, 2008
Re: 2009 Capital Project Fund Budget Adoption and
Acceptance of Long-range Capital Program
Summary:
The Town's final revised Capital Projects Fund budget for 2008 and the proposed 2009
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 7 h and 8t'. A public hearing was held on October 2e.
Recommendation:
Staff recommends that Council adopt the resolutions discussed above as presented, and accept
the long-range capital program as submitted.
Town Mara er Comments:
Attachments:
A - Resolution 08-42
B - Resolution 08-44
C - Capital Projects Fund Summary
• D - Long-range Capital Program (5-year Plan)
Page 1
RESOLUTION NO. 08-42
SERIES OF 2008
A RESOLUTION TO AMEND THE 2008 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES
AND AMENDING THE 2008 CAPITAL PROJECTS FUND BUDGET FOR THE
TOWN OF AVON, COLORADO, 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 adopted the 2008
Capital Projects Fund budget; and
WHEREAS, the Town Council has reviewed the revised estimated revenues and
expenditures for 2008; and
WHEREAS, the Town Council finds it necessary to amend the 2008 Capital
Projects Fund budget to more accurately reflect the revenues and expenditures for 2008;
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 2008:
Original or
Previously
Amended
2008
Budget
Caaital Proiects Fund
Beginning Fund Balance $ 6,693,875
Revenues and Other Sources 4,914,448
Expenditures and Other Uses 7,045,334
Current
Proposed
Amended
2008
Budget
$ 6,693,875
4,840,476
6,400,334
Ending Fund Balance $ 4.562.989 5.134.017
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