URA Res.No.2012-03AVON URBAN RENEWAL AUTHORITY
TOWN OF AVON, COLORADO
RESOLUTION NO. 12 -03
SERIES OF 2012
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES AND
ADOPTING A BUDGET FOR THE AVON URBAN RENEWAL AUTHORITY FOR
THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2013, AND
ENDING ON THE LAST DAY OF DECEMBER, 2013.
WHEREAS, the Board of Commissioners of the Avon Urban Renewal Authority has
directed the Authority's Executive Director /Secretary to prepare and submit a proposed budget
for its consideration;
WHEREAS, Patty McKenny, Executive Director /Secretary, has submitted a proposed
budget to said governing body on October 18, 2012;
WHEREAS, upon due and proper notice, published or 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 23, 2012 and interested taxpayers were given the opportunity to file
or register any objections 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 BOARD OF COMMISSIONERS
OF THE AVON URBAN RENEWAL AUTHORITY:
Section 1. That estimated revenues and expenditures for the Avon Urban Renewal Authority
are as follows for 2013:
Avon Urban Renewal Authority
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Avon Urban Renewal Authority
Resolution No. 12 -03
Page 1 of 2
2013
Proposed
Bu_ dget
$ 1,170,387
759,446
1,138,678
$ 791,155
Section 2. That the budget, as submitted, 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 13th day of November, 2012.
ATTEST:
(
Scott Wright, Treasurer (-�
CERTIFIED:
Avon Urban Renewal Authority
Resolution No. 12 -03
Page 2 of 2
AVON URBAN RENEWAL AUTHORITY
Rich Carroll, Chairman
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AVON URBAN RENEWAL AUTHORITY
Summary
REVENUES
Taxes
Investment Earnings
Total Operating Revenues
FUND SUMMARY -
Original or
Prev. Amend.
Actual Budget
2011 2012
Final
Revised Proposed
Budget Budget
2012 2013
$ 1,005,682 $ 680,938 $ 759,390 $ 753,921
3,310 6,907 2,763 5,525
1,008,992 687,845 762,153 759,446
Other Sources
Transfers In - Community Enhancement Fund - 250,000 -
Transfers In - CIP - 300,000 300,000
TOTAL REVENUES
1,008,992
1,237,845
1,062,153
759,446
EXPENDITURES
Current:
General Government
-
30,000
950
950
Capital Improvements
41,257
500,000
50,000
358,743
Debt Service:
Principal
260,000
270,000
270,000
280,000
Interest
205,412
198,172
193,565
195,985
Treasurer Fees
38,226
22,001
28,346
28,000
Fiscal Charges
1,000
-
1,000
-
Other Uses
Transfers Out - Town Center West Mtc. Fund
275,000
225,000
225,000
275,000
TOTAL EXPENDITURES
820,895
1,245,173
768,861
1,138,678
NET SOURCE (USE) OF FUNDS
188,097
(7,328)
293,292
(379,232)
FUND BALANCES, Beginning of Year
688,998
706,200
877,095
1,170,387
FUND BALANCES, End of Year
$ 877,095
$ 698,872
$ 1,170,387
$ 791,155
Section II, Page 2
Function: General Government/Financial #140
Department: Finance #140
Program: Avon Urban Renewal Authority #148
Account
Number
Account Description
Original or
Prev. Amend.
Actual Budget
2011 2012
Final
Revised Proposed
Budget Budget
2012 2013
Percent
Change
Legal Services
Personnel:
500 0.00%
63199
Other Professional Services
61101
Regular Full -time Salaries
$ - $ -
$ - $ -
N/A
61201
Automobile Allowance
- -
- -
N/A
61301
FT Pension
- -
- -
N/A
61303
Wellness
- -
- -
N/A
61304
Employee Assistance Program
- -
- -
N/A
61401 •
FICA/Medicare
- -
- -
N/A
61501
Group Health and Life Insurance
- -
- -
N/A
61505
Long -term Disability Insurance
- -
- -
N/A
61507
Dental Insurance
- -
- -
N/A
61509
Worker's Compensation
- -
- -
N/A
61510
Unemployment Insurance
- -
- -
N/A
61000
Total Personnel
- -
- -
N/A
Commodities:
62905
Books and Periodicals
- -
- -
N/A
62999
Office Supplies and Materials
- -
- -
N/A
62000
Total Commodities
- -
- -
N/A
Section II, Page 3
Contract Services:
63101
Legal Services
- 1,500 500
500 0.00%
63199
Other Professional Services
- 28,000 -
- N/A
63203
Printing and Reproduction
- 200 200
200 0.00%
250 0.00%
63000
Total Contract Services
- 29,700 700
700 0.00%
Section II, Page 3
Other Operating Costs:
64201
Telephone
- 50 -
- N/A
64901
Advertising /Legal
- 250 250
250 0.00%
64000
Total Other Operating Costs
- 300 250
250 0.00%
60000
Total Expenditures
$ - $ 30,000 $ 950 $
950 0.00%
Section II, Page 3
TOWN OF AVON
DETAILED BUDGET REQUESTS
2013
Department: Finance
Program: Avon Urban Renewal Authority
Account
Number
Account Name
2013
Budget
Justification
63101
63230
63000
64901
64000
Legal Services
Printing and Reproduction
Total Contract Services
Advertising and Legal
Total Other Operating Costs
500
200
AURA General Counsel Services 500
Printing 200
Legal Notices 250
700
250
250
Section II, Page 4
AVON URBAN RENEWAL AUTHORITY
Debt Service
De'b��S�erau� b Summary
Original or Final
Prev. Amend. Revised Proposed
Account Actual Budget Budget Budget
Number Description 2011 2012 2012 2013
DEBT SERVICE
931
Series 2009, Vectra Bank Loan:
64303
Treasurer Fees
38,226
22,001
28,346
28,000
65101
Principal
260,000
270,000
270,000
280,000
65102
Interest
205,412
198,172
193,565
195,985
65103
Fiscal Charges
1,000
-
1,000
-
60000
Sub -total
504,638
490,173
492,911
503,985
60000
TOTAL DEBT SERVICE
504,638
490,173
492,911
503,985
Section II, Page 5
AVON URBAN RENEWAL AUTHORITY
Capital Projects
CIP _Projects Inventory
Original or Final
Prev. Amend. Revised Proposed
Account Actual Budget Budget Budget
Number Description 2011 2012 2012 2013
CAPITAL IMPROVEMENT PROJECTS
Roads and Streets:
Street Improvements:
32012 Lake Street Realignment Design $ - $ $ $
32013 Lake Street Construction
32014 Main Street Design - - -
32015 Main Street Easements - - -
32016 Main Street Construction 41,257 500,000 50,000 358,743
32017 Benchmark Road Design - "
Total Capital Improvement Projects $ 41,257 $ 500,000 $ 50,000 $ 358,743
Section II, Page 6