TC Res. No. 2013-20 AMEND THE 2013 TOWN OF AVON CAPITALTOWN OF AVON, COLORADO
RESOLUTION NO. 13 -20
SERIES OF 2013
A RESOLUTION TO AMEND THE 2013 TOWN OF AVON CAPITAL
PROJECTS FUND BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY
FUND AND AMENDING THE 2013 CAPITAL PROJECTS FUND BUDGET FOR
THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR
BEGINNING ON THE FIRST DAY OF JANUARY, 2013 AND ENDING ON THE
LAST DAY OF DECEMBER, 2013
WHEREAS, the Town Council of the Town of Avon has previously adopted the
2013 Capital Projects Fund budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and
expenditures for 2013; and
WHEREAS, the Town Council finds it necessary to amend the 2013 Capital
Projects Fund budget to more accurately reflect the revenues and expenditures for 2013;
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 2013:
Town of Avon
Resolution No. 13 -20
Page 1 of 2
Original or Current
Previously Proposed
Amended Amended
2013 Budget 2013 Budget
Capital Projects Fund
Beginning Fund Balance $ 6,186,560 $ 6,186,560
Revenues and Other Sources 11,138,973 10,336,973
Expenditures and Other Uses 14,373,650 13,971,142
Ending Fund Balance $ 2.951,883 $ 2,552J91
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 25th day of June, 2013.
TOWN OF AVON, COLORADO
T ichard Carroll, ayor
ATTEST:
P
r
Pay cKd
To Jerk
Town of Avon
Resolution No. 13 -20
Page 2 of 2
EXHIBIT B
Capital Projects Fund #41
Amendment No. 2
Page 1
Fund Summary
Original or
Proposed
Prev. Amended
Revised
Difference
Actual
Budget
Budget
Increase
REVENUES
2012
2013
2013
(Decrease)
Taxes
$ 1,707,648
$ 1,500,000 $
1,500,000
$ _
Intergovernmental
1,707,114
8,372,473
7,520,473
(852,000)
Investment Earnings
11,018
15,000
15,000
Other Revenue
693
1,500
1,500
-
Total Operating Revenues
3,426,473
9,888,973
9,036,973
(852,000)
Other Sources:
Transfer In from Other Funds
648,274
1,250,000
1,300,000
50,000
Total Other Sources
648,274
1,250,000
1,300,000
50,000
TOTAL REVENUES
4,074,747
11,138,973
10,336,973
(802,000)
EXPENDITURES
Capital Improvements:
Facilities
3,110,537
9,013,307
9,103,307
90,000
Land and Land Improvements
575
1,050,000
1,086,800
36,800
Roads and Streets
230,403
1,144,000
531,533
(612,467)
Utilities
43,521
55,000
55,000
-
Water Fund Projects
648,274
1,250,000
1,300,000
50,000
Communications and Technology
-
139,106
92,265
(46,841)
Strategic Planning
-
780,000
860,000
80,000
Total Capital Improvements
4,033,310
13,431,413
13,028,905
(402,508)
Other Uses
Operating Transfer -Out - General Fund
217,204
227,571
227,571
-
Operating Transfer -Out - Debt Service Fund
710,594
714,666
714,666
-
Total Other Uses
927,798
942,237
942,237
-
TOTAL EXPENDITURES
4,961,108
14,373,650
13,971,142
(402,508)
NET SOURCE (USE) OF FUNDS
(886,361)
(3,234,677)
(3,634,169)
(399,492)
FUND BALANCE, Beginning of Year
7,072,921
6,186,560
6,186,560
-
FUND BALANCE, End of Year
$ 6,186,560
$ 2,951,883 $
2,552,391 $ (399,492)
Page 1
r7VU10i-r 0
Capital Projects Fund #41
Amendment No. 2
Original or
Proposed
Prev. Amended
Revised Difference
Actual Budget
Budget Increase
Account
Federal / State:
Number Description 2012 2013
2013 (Decrease)
Taxes:
51401 Real Estate Transfer Tax
$ 1,707,648 $ 1,500,000 $ 1,500,000 $
Investment Earnings:
57101 Interest Earnings
Other Revenues:
58104 Fireplace Fees
58999 Nonclassifed
58000 Total Other Revenues
Other Sources:
59201 Transfer In from Water Fund
59000 Total Other Sources
11,018 15,000 15,000
- 1,500 1,500
693 - -
693 1,500 1,500
648,274 1,250,000 1,300,000 50,000
648,274 1,250,000 1,300,000 50,000
50000 TOTAL REVENUES $ 4,074,747 $ 11,138,973 $ 10,336,973 $ (802,000) 1.
Page 2
intergovernmental:
Federal / State:
53150
FTA 90 SGR Grant
1,118,012
6,360,876
6,360,876
53151
FTA 84 BBF Grant
155,342
-
-
53152
FTA / CDOT ARRA Grant
-
523,000
523,000
53153
FHWA / CDOT Hwy 6 Trail Project
-
355,000
-
(355,000)
53205
CDOT FASTER Grant
414,403
586,597
586,597
53202
GOCO Grant - Eagle River Pedestrian/Bike Bridge
-
497,000
-
(497,000)
53299
State of Colorado Historical Grant (Water Wheel)
19,357
-
-
Locai Government / Other:
53402
Eagle County Trails Grant
-
50,000
50,000
53000
Total Intergovernmental
1,707,114
8,372,473
7,520,473
(852,000)
Investment Earnings:
57101 Interest Earnings
Other Revenues:
58104 Fireplace Fees
58999 Nonclassifed
58000 Total Other Revenues
Other Sources:
59201 Transfer In from Water Fund
59000 Total Other Sources
11,018 15,000 15,000
- 1,500 1,500
693 - -
693 1,500 1,500
648,274 1,250,000 1,300,000 50,000
648,274 1,250,000 1,300,000 50,000
50000 TOTAL REVENUES $ 4,074,747 $ 11,138,973 $ 10,336,973 $ (802,000) 1.
Page 2
T-
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Town Council Report
To: Honorable Mayor Rich Carroll and Avon Town Council
From: Scott Wright, Finance Director
Justin Hildreth P.E., Town Engineer
Date: June 20, 2013
Re: Resolution 13 -20, a Resolution to Amend the 2013 Town of Avon Capital Fund
Budget
SUMMARY: Resolution 13 -20 amends the 2013 Capital Projects Fund expenditures by
adding new projects that were not contemplated when the budget was drafted last year,
modifying the budgets of projects based on more accurate information, the delaying of
several projects, and the cancellation of projects. Where appropriate revenue allocation are
also amended.
DISCUSSION: The following summarizes changes to the projects:
• IT Server Room HVAC upgrades added to the budget in the amount of $15,000
because of a recent failure of the existing HVAC system needed to properly cool the
room.
• Bus storage building mezzanine office furniture added in the amount of $75,000
because furniture is not an eligible grant expense.
• Forest Service Land Acquisition budget increased by $1,800 to cover some closing
costs.
• Nottingham Park Capital Improvements, 2013 program increased by $35,000 to
$85,000 to include emergency repairs to the tennis courts.
• Stonebridge Deck Repair and Overlay added to the budget in the amount of $50,000.
• 2013 Street Improvement budget increased from $250,000 to $471,533 to include
slurry sealing of residential roads. The current program includes overlaying Beaver
Creek Point and Drawspur Road. The roads that will be slurry sealed include
Saddleridge Loop, Drawspur, Nottingham Road and Metcalf Road.
• US Hwy 6 Trail and Eagle River Pedestrian /Bike Bridge delayed to 2014 because of
complications in acquiring easements. The revenue from the grants was also moved
to the 2014 budget.
• Beaver Creek Overlook Trail Parking Improvements added to the budget in the
amount of $10,000 and consists of 4 pull in parking spaces to serve the West Avon
Preserve Trailhead. These spaces will replace existing parallel parking spaces and will
be located across from Town of Avon property to mitigate the impacts to the
adjacent property owners.
• Nottingham Lake Liner Replacement project revised up to $1,300,000 based on a
construction bid, design costs and a 10% contingency for the work which will
Resolution 13 -20, Capital Project Fund 2"d Amendment
June 17, 2013 Page 2 of 2
commence in late summer. The transfer from the Water Fund was also increased
accordingly.
• Digital Ticketing delayed to 2014 because other partner's must upgrade existing
software system to become compatible with the digital ticketing software.
• Town Facilities Planning was added to the budget in the amount of $30,000. These
funds will be used to help fund consultant expertise, including architectural services,
if needed, in developing a master facilities plan and /or specific schematic plan(s), if
directed by Town Council.
• Parking and Transportation Task Force Study added in anticipation of participation
with representatives from the Village at Avon, Beaver Creek Resort, ECO, and east
Avon parcels in formulating a parking plan from Traer Creek, through Avon to Beaver
Creek and integrated pedestrian, bicycle, transit and vehicular streets, sidewalks and
paths. The Task Force will commence meeting in late July 2013. A total of $50,000
has been recommended.
There is a net decrease in use of funds of $399,492 to the budget. The fund balance at the
end of the year will be $2,552,391, 70% above the minimum fund balance of $1,500,000 for
the Capital Projects Fund.
Modifications to the Capital Projects Fund are focused on 2013 expected expenditures. The
balance of the 5 -year program is presented as adopted in late 2012. Consideration, of
changes to the 5 -year program, is reflected in Council's capital facilities planning work
sessions now underway and will ultimately culminate in as a recommendation in the 2014
budget sessions this fall.
Staff is prepared to address questions regarding the proposed projects and schedule and
looks forward to Council's input and direction with respect to this program.
RECOMMENDATION
Staff recommends that Council adopt Resolution 13 -20, Series of 2013, a Resolution
Amending the Town of Avon 2013 Capital Projects Fund, as presented.
Attachments:
Exhibit A - Resolution 13 -20, Series of 2013, a Resolution Amending the Town of Avon 2013
Capital Projects Fund
Exhibit B — Capital Projects Fund Amendment No. 2
EXHIBIT A
TOWN OF AVON, COLORADO
RESOLUTION NO. 13 -20
SERIES OF 2013
A RESOLUTION TO AMEND THE 2013 TOWN OF AVON CAPITAL
PROJECTS FUND BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY
FUND AND AMENDING THE 2013 CAPITAL PROJECTS FUND BUDGET FOR
THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR
BEGINNING ON THE FIRST DAY OF JANUARY, 2013 AND ENDING ON THE
LAST DAY OF DECEMBER, 2013
WHEREAS, the Town Council of the Town of Avon has previously adopted the
2013 Capital Projects Fund budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and
expenditures for 2013; and
WHEREAS, the Town Council finds it necessary to amend the 2013 Capital
Projects Fund budget to more accurately reflect the revenues and expenditures for 2013;
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 2013:
Town of Avon
Resolution No. 13 -20
Page 1 of 2
Original or Current
Previously Proposed
Amended Amended
2013 Budget 2013 Budget
Capital Projects Fund
Beginning Fund Balance $ 6,186,560 $ 6,186,560
Revenues and Other Sources 11,138,973 10,336,973
Expenditures and Other Uses 14 373,650 13 971,142
Ending Fund Balance $ 2,951,883 J---2J52 391
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 25th day of June, 2013.
TOWN OF AVON, COLORADO
Richard Carroll, Mayor
ATTEST:
Patty McKenny
Town Clerk
Town of Avon
Resolution No. 13 -20
Page 2 of 2