TC Res. No. 2012-07 Amend the 2012 TOA Capital Projects BudgetTOWN OF AVON, COLORADO
RESOLUTION NO. 12 -07
SERIES OF 2012
A RESOLUTION TO AMEND THE 2012 TOWN OF AVON CAPITAL
PROJECTS FUND BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY
FUND AND AMENDING THE 2012 CAPITAL PROJECTS FUND BUDGET FOR
THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR
BEGINNING ON THE FIRST DAY OF JANUARY, 2012 AND ENDING ON THE
LAST DAY OF DECEMBER, 2012
WHEREAS, the Town Council of the Town of Avon has previously adopted the
2012 Capital Projects Fund budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and
expenditures for 2012; and
WHEREAS, the Town Council finds it necessary to amend the 2012 Capital
Projects Fund budget to more accurately reflect the revenues and expenditures for 2012;
and
WHEREAS, the Town Council has caused to be published a notice containing
the date and time of a public hearing at which the adoption of the proposed budget
amendment will be considered and a statement that the proposed budget amendment is
available for public inspection at the office of the Town Clerk located in the Avon Town
Hall during normal business hours, and that any interested elector of the Town of Avon
may file any objection to the proposed budget amendment at any time prior to the final
adoption of the proposed budget amendment; 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 are revised as follows for 2012:
Town of Avon
Resolution No. 12 -07
Page 1 of 2
Section 2. That the Capital Projects Fund budget, as submitted, amended, and
hereinabove summarized by fund, 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 as hereby approved and adopted
shall be signed by the Mayor and made part of the public record of the Town.
ADOPTED this 27th day of March, 2012.
.SOW N OF,q�o�
ATTEST: �•......• '
ORADO
�� :!) r"? C
P y M Kenny
Tb,,4LnPerk 0
Town of Avon
Resolution No. 12 -07
Page 2 of 2
TOWN OF AVON, COLORADO
Richard Carroll, ayor
Original or
Current
Previously
Proposed
Amended
Amended
2012 Budget
2012 Budget
Capital Projects Fund
Beginning Fund Balance
$ 6,990,992
$ 7,156,311
Revenues and Other Sources
12,570,185
12,902,720
Expenditures and Other Uses
17,331,323
17,791,993
Ending Fund Balance
$ 2.229,854
L===2,267,038
Section 2. That the Capital Projects Fund budget, as submitted, amended, and
hereinabove summarized by fund, 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 as hereby approved and adopted
shall be signed by the Mayor and made part of the public record of the Town.
ADOPTED this 27th day of March, 2012.
.SOW N OF,q�o�
ATTEST: �•......• '
ORADO
�� :!) r"? C
P y M Kenny
Tb,,4LnPerk 0
Town of Avon
Resolution No. 12 -07
Page 2 of 2
TOWN OF AVON, COLORADO
Richard Carroll, ayor
Memo
To: Honorable Mayor and Town Council
Thru: Patty McKenny, Interim Town Manager _
From: Scott Wright, Finance Director _
Justin Hildreth P.E., Town Engineer _
Date: March 27, 2012
Re: 2012 Capital Improvement Program
Resolution 12 -07, Series 2012, A Resolution to Amend the 2012 Capital Projects
Fund
Summary:
Resolution 12 -07 proposes to amend the Town's Capital Projects Fund budget for a number
of different projects and estimated revenues as discussed in further detail below. Net
changes in the Capital Projects Fund result in an increase in total expenditures by $460,670
and an increase in estimated revenues by $332,535. These changes, along with an increase
in the beginning fund balance of $154,448, result in a net increase of $26,313 to the
estimated ending fund balance for 2012.
Discussion: comprise
Three items comprise the proposed budget amendment. A discussion of the various changes
to the budget follows:
Carryover of project funds from 2011. The 2012 budget is being revised to reflect the
carryover of appropriations from the previous year including the following projects: Waste
Heat Recovery Project ($38,855), Metcalf Road Drainage ($640,000) and Town Hall HVAC
Control System ($9,901). It should be noted that none of these projects have exceeded their
total project budget.
New Projects. Per the direction of Town Council on January 24, 2012, the waste heat
recovery expansion study with a budget of $35,000 has been added to the Capital Projects
Fund.
Swift Gulch. Several modifications have been made to the CIP numbers 13004 to 13011 that
pY eempas +4eencompass the Swift Gulch project, including the design and construction of
the bus storage and maintenance building and the relocation of the Public Works
department:
• CIP13004, Non -Grant Eligible Design: $65,354 was removed from the project and
the CIP number closed out.
2012 5 -Year Capital Improvement Program
March 27, 2012
Page 2 of 2
• CIP13005, Public Works Facilities (On -site and Lot 5): $144,474 was added to the
project. These funds were transferred from CIP13004 with the remainder from the
portion of the COP proceeds of $3 million that had not been accounted for in other
projects or the matching funds.
• CIP13007, Final Design /Engineering Services (Grant #84): $73,392 of the funds not
expended in 2011 was carried forward to 2012.
• CIP13008 & CIP13009, Final Design and Engineering Services and Transit Facility
Construction (Grant #90): $461,212 of funds was re- allocated from CIP13008 to
CIP13009 to more accurately reflect project expenditures.
• CIP13010, Transit Facility Construction (FASTER): This project was adjusted to
reflect the actual grant contract and the increase in funds came from the $3,000,000
bond proceeds as originally envisioned.
• CIP13011, Transit Facility Construction (ARRA): The project budget was increased
by $30,000 to reflect the ARRA grant amount, which does not require any matching
funds.
Recommendation
Staff recommends that Council adopt Resolution 12 -07, Series of 2012, a Resolution
Amending the Town of Avon 2012 Capital Projects Fund as presented.
ki, 0,
Town Manager Comments:
Attachments:
Exhibit A - Resolution 12 -07
Exhibit B - 2012 Capital Projects Fund Amendment No. 1
Town Manager Comments:
Attachments:
Exhibit A - Resolution 12 -07
Exhibit B - 2012 Capital Projects Fund Amendment No. 1
1
Capital Projects Fund #41
Amendment No.
Total Operating Revenues
Other Sources:
Transfer In from Other Funds
Total Other Sources
TOTAL REVENUES
EXPENDITURES
Capital Improvements:
Facilities
Land and Land Improvements
Roads and Streets
Utilities
Water Fund Projects
Communications and Technology
Strategic Planning
Other
Total Capital Improvements
Other Uses
Operating Transfer -Out - General Fund
Operating Transfer -Out - URA
Operating Transfer -Out - Debt Service Fund
Total Other Uses
TOTAL EXPENDITURES
NET SOURCE (USE) OF FUNDS
FUND BALANCE, Beginning of Year
FUND BALANCE, End of Year
1,929,846 11,780,185 12,212,720 432,535
201,695
Fund Summary
690,000
(100,000)
105,117
1,000,000
1,000,000
-
201,695
790,000
690,000
(100,000)
Original or
Proposed
73,855
73,855
2,131,541
Prev. Amended
Revised
Difference
2,366
Actual
Budget
Budget
Increase
650,000
2011
2012
2012
(Decrease)
REVENUES
-
Taxes
$ 1,616,982
$ 1,273,838
$ 1,273,838
$ _
Intergovernmental
240,093
10,416,788
10,849,323
432,535
Investment Earnings
47,261
88,059
88,059
_
Other Revenue
25,510
1,500
1,500
_
Total Operating Revenues
Other Sources:
Transfer In from Other Funds
Total Other Sources
TOTAL REVENUES
EXPENDITURES
Capital Improvements:
Facilities
Land and Land Improvements
Roads and Streets
Utilities
Water Fund Projects
Communications and Technology
Strategic Planning
Other
Total Capital Improvements
Other Uses
Operating Transfer -Out - General Fund
Operating Transfer -Out - URA
Operating Transfer -Out - Debt Service Fund
Total Other Uses
TOTAL EXPENDITURES
NET SOURCE (USE) OF FUNDS
FUND BALANCE, Beginning of Year
FUND BALANCE, End of Year
1,929,846 11,780,185 12,212,720 432,535
201,695
790,000
690,000
(100,000)
105,117
1,000,000
1,000,000
-
201,695
790,000
690,000
(100,000)
38,229
-
73,855
73,855
2,131,541
12,570,185
12,902,720
332,535
596,215
11,542,322
11,970,832
428,510
105,117
1,000,000
1,000,000
-
6,810
2,260,000
2,260,000
-
38,229
-
73,855
73,855
201,695
690,000
648,305
(41,695)
2,366
-
-
_
-
650,000
650,000
_
32,225
-
-
-
982,657
16,142,322
16,602,992
460,670
235,350
178,857
178,857 -
-
300,000
300,000 -
726,680
710,144
710,144 -
2,229,854 $
2,267,038 $
37,184
962,030
1,189,001
1,189,001 -
1,944,687
17,331,323
17,791,993 460,670
186,854
(4,761,138)
(4,889,273) (128,135)
6,969,457
6,990,992
7,156,311
165,319
$ 7,156,311 $
2,229,854 $
2,267,038 $
37,184
Page 1
r
Fund
Amendment •
Taxes:
51401 Real Estate Transfer Tax
Intergovernmental:
Federal / State:
53150 FTA 90 SGR Grant
53151 FTA 84 BBF Grant
53152 FTA / CDOT ARRA Grant
53153 FHWA / CDOT Hwy 6 Trail Project
53205 CDOT FASTER Grant
53202 GOCO Grant - Eagle River Pedestrian /Bike Bridge
Local Government / Other:
53402 Eagle County Trails Grant
53000 Total Intergovernmental
Investment Earnings:
57101 Interest Earnings
Other Revenues:
58104 Fireplace Fees
58999 Nonclassifed
58000 Total Other Revenues
Other Sources:
59201 Transfer In from Community Enhancement Fund
59201 Transfer In from Water Fund
59000 Total Other Sources
50000 TOTAL REVENUES
1,616,982 $ 1,273,838 $ 1,273,838 $
21,112
7,464,788
7,500,000
35,212
211,981
-
367,323
367,323
-
500,000
530,000
30,000
355,000
355,000
-
1,000,000
1,000,000
-
-
497,000
497,000
-
7,000
600,000
600,000
-
240,093
10,416,788
10,849,323
432,535
47,261 88,059 88,059
- 1,500 1,500 -
25,510 - -
25,510 1,500 1,500
- 100,000 - (100,000)
201,695 690,000 690,000
201,695 790,000 690,000 (100,000)
$ 2,131,541 $ 12,570,185 $ 12,902,720 $ 332,535
Page 2
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