TC Res. No. 2008-43 Adopt the 2009 Avon budgetTOWN OF AVON, COLORADO
RESOLUTION NO.09 43
SERIES OF 2008
A RESOLUTION TO ADOPT THE 2009 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, 2009 AND ENDING ON THE LAST DAY OF DECEMBER, 2009
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 7,
2008, 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 October 28, 2008, 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 2008:
2009
Proposed
Budget
General Fund
Beginning Fund Balance $ 6,602,749
Revenues and Other Sources 16,353,816
Expenditures and Other Uses 16,496,820
Ending Fund Balance 6,459,745
Main Street Maintenance Fund
Beginning Fund Balance $ 1,558
Revenues and Other Sources 65,000
Expenditures and Other Uses 62,139
Ending Fund Balance $ 4,419
2009
Proposed
Budget
Community Enhancement Fund
Beginning Fund Balance $ 334,417
Revenues and Other Sources 60,000
Expenditures and Other Uses 0
Ending Fund Balance $ 394,417
Water Fund
Beginning Fund Balance $ 2,337,589
Revenues and Other Sources 174,000
Expenditures and Other Uses .903,032
Ending Fund Balance 1,608,557
Affordable Housing Fund
Beginning Fund Balance $ 751,000
Revenues and Other Sources 0
Expenditures and Other Uses 6,700
Ending Fund Balance $ 744,300
Facilities Reserve Fund
Beginning Fund Balance $ 473,834
Revenues and Other Sources 72,917
Expenditures and Other Uses -
Ending Fund Balance $ 546,751
Debt Service Fund
Beginning Fund Balance $ 657,106
Revenues and Other Sources 1,164,036
Expenditures and Other Uses 1,164,036
Ending Fund Balance $ 657,106
Avon Metropolitan District Fund
Beginning Fund Balance $ 56,969
Revenues and Other Sources 489,558
Expenditures and Other Uses 489,558
Ending Fund Balance 56,969
Resolution No. 0843 09 Budget
Page 2 of 3
2009
Proposed
Budget
'T'ransit Enterprise Fund
Beginning Fund Balance $ 397,771
Revenues and Other Sources 1,599,900
Expenditures and Other Uses 1,598,940
Ending Fund Balance $ 398,731
Fleet Maintenance Enterprise Fund
Beginning Fund Balance $ 495,326
Revenues and Other Sources 2,588,129
Expenditures and Other Uses 2,582,465
Ending Fund Balance $ 500.990
Equipment Replacement Internal Service Fund
Beginning Fund Balance $ 1,685,525
Revenues and Other Sources 804,418
Expenditures and Other Uses 723,370
Ending Fund Balance 1.766.573
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 11 to day of November, 2008.
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Resolution No. 0843 09 Budget
Page 3 of 3
To: Honorable Mayor and Town Council
Thu: Lary Brooks, Town Manager
From Scott Wright, Asst. Town Manager - Finance
Date: November 5, 2008
Re: Adoption of 2009 Budget
Summary:
The Town's final revised operating budgets for 2008 and the proposed 2009 operating budgets
are hereby submitted for adoption by the Avon Town Council.
• 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 31. This budget meets this and all other legal requirements for submission.
Previous Council Action:
Previously, the Town Manager resented his recommended budget at the Council budget
retreat held on October 7 h and 8h. During the budget retreat four changes were incorporated
into the final proposed General Fund budget.
The changes for the 2009 proposed General Fund budget include the reduction from $50,000
to $9,500 for the Ironkids Triathlon license, the addition of $2,500 in in-kind contributions to
the Vail Symposium for the Healthy Home tour and fair, $10,000 in contributions to the Gore
.
Range Natural Science School, and $4,000 to Bravo! for community outreach programs for
music matters programs.
At the last council meeting a public hearing was held for members of the public to comment
on the proposed 2009 budget. No changes to the budget have been made subsequent to the
public hearing.
Recommendation:
• Staff recommends that Council adopt the resolutions discussed above as presented.
Page 1
Town Manager Comments:
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Attachments:
A - 2009 Financial Overview, Total - All Funds
B - 2009 Financial Overview, Total by Fund
C - Resolution 08-41
D - Resolution 08-43
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