URA Res.No.2012-02AVON URBAN RENEWAL AUTHORITY
TOWN OF AVON, COLORADO
RESOLUTION NO. 12 -02
SERIES OF 2012
A RESOLUTION AMENDING THE
2012 AVON URBAN RENEWAL AUTHORITY BUDGET
WHEREAS, the Board of Commissioners of the Avon Urban Renewal Authority has
previously adopted the 2012 budget;
WHEREAS, the Board of Commissioners of the Avon Urban Renewal Authority reviewed
the revised estimated revenues and expenditures for all funds for 2012;
WHEREAS, the Board of Commissioners of the Avon Urban Renewal Authority finds it
necessary to amend the 2012 budget to more accurately reflect the revenues and expenditures for
2012;
WHEREAS, upon due and proper notice, published or posted in accordance with the law,
the proposed budget amendment to the 2012 budget was open for inspection by the public at a
designated place, a public hearing was held on October 23, 2012 and interested taxpayers were
given the opportunity to file or register any objections to 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 BOARD OF COMMISSIONERS
OF THE AVON URBAN RENEWAL AUTHORITY:
Section 1. That estimated revenues and expenditures for the Avon Urban Renewal Authority
are revised as follows for 2012:
Ending Fund Balance $ 698,872
Avon Urban Renewal Authority
Resolution No. 12 -02
Page 1 of 2
Current
Proposed
Amended
2012 Budget
$ 877,095
1,062,153
768,861
$ 1,170,387
Original or
Previously
Amended
2012 Budget
Avon Urban Renewal Authority
Beginning Fund Balance
$ 706,200
Revenues and Other Sources
1,237,845
Expenditures and Other Uses
1,245,173
Ending Fund Balance $ 698,872
Avon Urban Renewal Authority
Resolution No. 12 -02
Page 1 of 2
Current
Proposed
Amended
2012 Budget
$ 877,095
1,062,153
768,861
$ 1,170,387
Section 2. That the budget, as submitted and amended hereby is approved and adopted as the
budget of the Avon Urban Renewal Authority for the year stated above.
Section 3. That the budget hereby approved and adopted shall be signed by the Chairman
and made part of the public record of the Authority.
ADOPTED this 13" day of November, 2012.
ATTEST:
CERTIFIED:
I �
c nny
Aufkority,Clerk
Avon Urban Renewal Authority
Resolution No. 12 -02
Page 2 of 2
AVON URBAN RENEWAL AUTHORITY
Rich Carroll, Chairman
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SEAL �
Memo
To: Board Chairman and Commissioners
Thru: Patty McKenny, Executive Director
Legal: Eric Heil, Town Attorney
From: Scott Wright, Treasurer
Date: November 8, 2012
Re: 2013 Proposed and 2012 Revised Budgets
Summary:
Initials
1
Attached are the final proposed and revised budget resolutions for the Avon Urban Renewal
Authority. The Authority is considered a separate legal entity from the Town authorized by
the Colorado Urban Renewal Act.
The Authority's budget summary is attached as an exhibit to this memorandum and is also
included for informational purposes in the Town's budget summary as a component unit of
the Town.
Discussion:
Previously, the Authority's Executive Director presented her recommended budget at the
Avon budget retreat held on October 18d. At the Avon URA meeting held on October 23,
2012 a public hearing was held for members of the public to comment on the proposed 2013
budget. No changes to the budget have been made subsequent to the public hearing.
Recommendation:
Staff recommends that the Board adopt the resolutions as presented.
Executive Director Commes
Page 1
Attachments:
A —Resolution No. 12 -02
B —Resolution No. 12 -03
C - Avon Urban Renewal Authority budget
• Page 2
Memo
To: Board Chairman and Commissioners
Thru: Patty McKenny, Executive Director
Legal: Eric Heil, Town Attorney
From: Scott Wright, Treasurer
Date: November 8, 2012
Re: 2013 Proposed and 2012 Revised Budgets
Summary:
Tnitials
Attached are the final proposed and revised budget resolutions for the Avon Urban Renewal
Authority. The Authority is considered a separate legal entity from the Town authorized by
the Colorado Urban Renewal Act.
The Authority's budget summary is attached as an exhibit to this memorandum and is also
included for informational purposes in the Town's budget summary as a component unit of
the Town.
Discussion:
Previously, the Authority's Executive Director presented her recommended budget at the
Avon budget retreat held on October 18`x. At the Avon URA meeting held on October 23,
2012 a public hearing was held for members of the public to comment on the proposed 2013
budget. No changes to the budget have been made subsequent to the public hearing.
Recommendation:
Staff recommends that the Board adopt the resolutions as presented.
Executive Director Comm
Page 1