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TC Res. No. 2009-31 AMEND THE 2009 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO RESOLUTION NO. 09 -31 SERIES OF 2009 A RESOLUTION TO AMEND THE 2009 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2009 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 previously adopted the 2009 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for all operating funds for 2009; and WHEREAS, the Town Council finds it necessary to amend the 2009 budget to more accurately reflect the revenues and expenditures for 2009; 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 following funds are revised as follows for 2009: General Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Town of Avon Resolution No. 09 -31 Page I of 3 Original or Previously Amended 2009 Budget $ 6,402,232 13,840,584 14,134,129 1: •.: Current Proposed Amended 2009 Budget $ 6,402,232 13,909,455 14,055,415 6,256,272 Town Center West Maintenance Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Community Enhancement Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Water Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance AMD Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Transit Enterprise Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Town of Avon Resolution No. 09 -31 Page 2 of 3 Original or Previously Amended 2009 Budget $ 1,558 65,000 62.129 Current Proposed Amended 2009 Budget $ 50,996 65,000 61.761 4,419 $ 54.235 $ 348,882 60,000 60,000 $ 348.882 $ 2,337,589 174,000 903,032 1,608,557 $ 657,106 1,164,036 1,164,036 $ 657,106 $ 49,633 486,606 486,606 49.633 $ 466,108 1,474,900 1,471,528 469,480 $ 348,882 65,000 60,000 $ 353,882 $ 2,495,147 184,000 428,821 2,155,173 $ 636,499 1,164,036 1,164.036 636,499 $ 56,969 486,606 486.606 $ 56.969 $ 466,108 1,345,551 1,339,771 $ 471,888 Ending Fund Balance 1,803,003 $ 1,520,917 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 24" day of November, 2009. TOWS OF -�IVON, COL N nal C. Wolfe, Mayor ATTEST: 4 enny Town of Avon Resolution No. 09 -31 Page 3 of 3 I Original or Current Previously Proposed Amended Amended 2009 Budget 2009 Budget Fleet Maintenance Enterprise Fund Beginning Fund Balance $ 591,705 $ 591,705 Revenues and Other Sources 2,659,572 2,723,065 Expenditures and Other Uses 2,647,465 2,639,531 Ending Fund Balance 603,812 $ 675,239 Equipment Replacement Internal Service Fund Beginning Fund Balance $ 1,715,385 $ 1,715,385 Revenues and Other Sources 409,709 384,318 Expenditures and Other Uses 322,091 578,786 Ending Fund Balance 1,803,003 $ 1,520,917 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 24" day of November, 2009. TOWS OF -�IVON, COL N nal C. Wolfe, Mayor ATTEST: 4 enny Town of Avon Resolution No. 09 -31 Page 3 of 3 I TOWN OF AVON Financial Overview REVENUES Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Earnings Other Revenue Total Operating Revenues Other Sources Sales of Fixed Assets Bond Proceeds Transfers -In From Other Funds Capital Lease Proceeds TOTAL REVENUES EXPENDITURES General Government and Finance Community Development Public Safety Public Works, Engineering and Utilities Transportation and Fleet Maintenance Recreation and Culture Total Operating Expenditures Debt Service Capital Improvements and Equipment Replacement Other Uses Transfers -Out To Other Funds TOTAL EXPENDITURES NET SOURCE (USE), OF FUNDS FUND BALANCES, Beginning of Year FUND BALANCES, End of Year $ 13,985,234 $ 14,058,914 $ .TOTAL -ALL FUNDS 13,673,524 245,793 203,600 Original or Final Prev. Amend. Revised Proposed Actual Budget Budget Budget 2008 2009 2009 2010 REVENUES Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Earnings Other Revenue Total Operating Revenues Other Sources Sales of Fixed Assets Bond Proceeds Transfers -In From Other Funds Capital Lease Proceeds TOTAL REVENUES EXPENDITURES General Government and Finance Community Development Public Safety Public Works, Engineering and Utilities Transportation and Fleet Maintenance Recreation and Culture Total Operating Expenditures Debt Service Capital Improvements and Equipment Replacement Other Uses Transfers -Out To Other Funds TOTAL EXPENDITURES NET SOURCE (USE), OF FUNDS FUND BALANCES, Beginning of Year FUND BALANCES, End of Year $ 13,985,234 $ 14,058,914 $ 12,425,085 $ 13,673,524 245,793 203,600 218,600 218,600 1,482,688 1,957,571 1,662,495 2,694,148 6,245,897 5,289,005 5,249,835 5,134,716 131,525 133,450 138,450 143,950 1,496,801 579,083 529,083 454,917 571,402 391,100 459,794 442,500 24,159,340 22,612,723 20,683,342 22,762,355 38,101 16,500 16,500 16,500 25,000,000 7,200,000 7,200,000 - 2,970,667 3,479,357 3,354,978 3,467,140 - 23,000 - - 3,725,749 3,780,115 3,775,090 52,168,108 33,331,580 31,254,820 26,245,995 3,038,856 2,518,220 2,667,533 2,480,784 823,902 749,792 728,190 672,111 2,628,330 2,593,732 2,632,899 2,564,147 3,725,749 3,780,115 3,775,090 3,898,825 4,856,027 4,118,993 3,979,302 4,757,566 2,579,779 2,519,644 2,510,199 2,580,331 17,652,643 16, 280,496 16,293,213 16,953, 764 2,894,372 27,437,388 27,437,388 2,205,524 10,643,405 6,069,431 5,766,979 6,240,821 2,970,667 3,460,536 3,354,978 3,467,140 34,161,087 53,247,851 52,852,558 28,867,249 18,007,021 (19,916,271) (21,597,738) (2,621,254) 20,924,966 38,628,886 38,931,987 17,334,249 $ 38,931,987 $ 18,712,615 $ 17,334,249 $ 14,712,995 Section I, Page 1 TOWN OF AVON Financial Overview Total Operating Revenues 13,551,011 - 959,179 65,000 165,000 Other Sources 13,932,913 TOTAL: T BY. FUND? Sales of Fixed Assets 1,500 - 530,884 Transfers -In From Other Funds Special Revenue Funds 77,702 TOTAL REVENUES Main Street Urban Community Affordable Facilities EXPENDITURES General Maintenance Renewal Enhancement Water Housing Reserve 2,473,534 - 5,550 - - Fund Fund Fund Fund Fund Fund Fund REVENUE Police 2,564,147 - _ _ 513,251 Taxes $ 9,563,488 $ $ 945,366 $ $ $ $ Licenses and Permits 218,600 - _ _ Intergovernmental 900,148 - Charges for Services 1,998,825 165,000 Fines and Forfeitures 143,950 - _ _ Investment Earnings 350,000 13,813 Other Revenue 376,000 - 65,000 Total Operating Revenues 13,551,011 - 959,179 65,000 165,000 Other Sources 13,932,913 227,395 Sales of Fixed Assets 1,500 - 530,884 Transfers -In From Other Funds 377,563 230,000 - 77,702 TOTAL REVENUES 13,930,074 230,000 959,179 65,000 165,000 - 77,702 EXPENDITURES (365,884) (1,700) General Government, Housing and Finance 2,473,534 - 5,550 - - 1,700 Community Development 672,111 _ 353,882 Police 2,564,147 - _ _ 513,251 Public Works, Engineering and Utilities 3,528,213 227,395 105,884 37,333 Transportation and Fleet Maintenance - _ $ 1,789,289 $ Recreation and Culture 2,580,331 Total Operating Expenditures 11,818,336 227,395 5,550 105,884 1,700 37,333 Debt Service 560,141 Capital Expenditures _ _ _ Other Uses Transfers -Out To Other Funds 2,114,577 230,000 280,000 425,000 100,000 TOTAL EXPENDITURES 13,932,913 227,395 795,691 280,000 530,884 11700 137,333 NET SOURCE (USE) OF FUNDS (2,839) 2,605 163,488 (215,000) (365,884) (1,700) (59,631) FUND BALANCES, Beginning of Year 6,256,272 54,235 508,070 353,882 2,155,173 651,675 513,251 FUND BALANCES, End of Year $ 6,253,433 $ 56,840 $ 671,558 $ 138,882 $ 1,789,289 $ 649,975 $ 453,620 I* Section I, Page 2 ■ 0 TOWN OF AVON Financial Overview - - - - 15,000 16,500 601,875 - 745,000 1,350,000 85,000 - 3,467,140 1,161,175 484,208 4,418,802 1,683,964 2,686,572 384,319 26,245,995 2,125,018 2,632,548 2,125,018 2,632,548 - 2,480,784 F 14.63% 672,111 196% 2,564,147 15.12% 3,898,825 2100% 4,757,566 28.06% 2,580,331 15.22% TOTAL - BY FUND 16,953,764 1 100.00% 411,615 28,867,249 - - (1,727,967) (441,054) 54,024 (27,296) (2,621,254) Internal 471,888 675,239 Debt Service Funds Capital Enterprise Funds Service Percent Bond AMD Projects Transit Fleet Equipment $ 14,712,995 of Redemption Fund Fund Fund Maintenance Replacement Total Total $ 548,300 $ 484,208 $ 2,091,798 $ 40,364 $ - $ $ 13,673,524 60.07% - - - - - 218,600 0.96% 1,500,400 293,600 - - 2,694,148 11.84% - - 2,601,572 369,319 5,134,716 22.56% - - - - 143,950 0.63% 11,000 80,104 454,917 2.00% - - 1,500 - - 442,500 1.94% 559,300 484,208 3,673,802 333,964 2,601,572 369,319 22,762,355 100.00% - - - - 15,000 16,500 601,875 - 745,000 1,350,000 85,000 - 3,467,140 1,161,175 484,208 4,418,802 1,683,964 2,686,572 384,319 26,245,995 2,125,018 2,632,548 2,125,018 2,632,548 - 2,480,784 F 14.63% 672,111 196% 2,564,147 15.12% 3,898,825 2100% 4,757,566 28.06% 2,580,331 15.22% 1,161175 484,208 6,146,769 16,953,764 1 100.00% 1,161,175 484,208 - - 2,205,524 - - 5,829,206 - 411,615 6,240,821 - - 317,563 - - 3,467,140 1,161175 484,208 6,146,769 2,125,018 2,632,548 411,615 28,867,249 - - (1,727,967) (441,054) 54,024 (27,296) (2,621,254) 636,499 62,981 3,474,167 471,888 675,239 1,520,917 17,334,249 $ 636,499 $ 62,981 $ 1,746,200 $ 30,834 $ 729,263 $ 1,493,621 $ 14,712,995 Section I, Page 3 TOWN OF AVON, COLORADO RESOLUTION NO. 09 -31 SERIES OF 2009 0 A RESOLUTION TO AMEND THE 2009 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2009 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 previously adopted the 2009 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for all operating funds for 2009; and WHEREAS, the Town Council finds it necessary to amend the 2009 budget to more accurately reflect the revenues and expenditures for 2009; 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: 0 Section 1. That estimated revenues and expenditures for the following funds are revised as follows for 2009: Original or Current Previously Proposed Amended Amended 2009 Budget 2009 Budget General Fund Beginning Fund Balance $ 6,402,232 $ 6,402,232 Revenues and Other Sources 13,840,584 13,909,455 Expenditures and Other Uses 14,134,129 14,055,415 Ending Fund Balance 6.108,688 6,256,2,72 Town of Avon Resolution No. 09 -31 Page 1 of 3 C Town Center West Maintenance Fund Beginning; Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Community Enhancement Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Water Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance AMD Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Transit Enterprise Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Town of Avon Resolution No. 09 -31 Page 2 of 3 Original or Previously Amended 2009 Budget $ 1,558 65,000 62,129 $ 4.419 $ 348,882 60,000 60,000 $ 348,882 $ 2,337,589 174,000 903,032 1,608,557 $ 657,106 1,164,036 1,164,036 $ 657,106 $ 49,633 486,606 486,606 $ 49.633 $ 466,108 1,474,900 1,471,528 $ 469,480 Current Proposed Amended 2009 Budget $ 50,996 65,000 61.761 $ 54.235 $ 348,882 65,000 60.000 $ 353.882 $ 2,495,147 184,000 428,821 $ 2.155.173 $ 636,499 1,164,036 1,164,036 $ 636,499 $ 56,969 486,606 486,606 $ 56.969 $ 466,108 1,345,551 1,339,771 $ 471,888 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 24`" day of November, 2009. TOWN OF AVON, COLORADO Ronald C. Wolfe, Mayor ATTEST: Patty McKenny Town Clerk Town of Avon is Resolution No. 09 -31 Page 3 of 3 Original or Current Previously Proposed Amended Amended Fleet Maintenance Enterprise Fund 2009 Budget 2009 Budget Beginning Fund Balance $ 591,705 $ 591,705 Revenues and Other Sources 2,659,572 2,723,065 Expenditures and Other Uses 2,647,465 2,639,531 Ending Fund Balance $ 603,812 $ 675.239 Equipment Replacement Internal Service Fund Beginning Fund Balance $ 1,715,385 $ 1,715,385 Revenues and Other Sources 409,709 384,318 Expenditures and Other Uses 322,091 578,786 Ending Fund Balance $ 1.803,003 $ 1,520.917 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 24`" day of November, 2009. TOWN OF AVON, COLORADO Ronald C. Wolfe, Mayor ATTEST: Patty McKenny Town Clerk Town of Avon is Resolution No. 09 -31 Page 3 of 3 Town of Avon To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Scott Wright, Asst. Town Manager - Finance Date: November 18, 2009 Re: Adoption of Proposed 2010 and Final Revised 2009 Operating Budgets P`'-'CAu4k0A S ci o , C>9 - 31 £ 0' l - 31 Summary: The Town's final revised operating budgets for 2009 and the proposed 2010 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 presented his recommended budget at the Council budget retreat held on October 20th. During the budget retreat three changes were incorporated into the final proposed General Fund budget. General Fund The changes for the 2010 proposed General Fund budget include the elimination of the community picnic in the amount of $6,000, the addition of financial support to the Gore Range Science School in the amount of $6,000, and the addition of a financial commitment to Airplanners in the amount of $12,000. This final change only actually impacted the General Fund by the amount of $2,000 because $10,000 had already been include in the line item detail but not in the justification sheet. Finally, an error in the Special Events PTS Wages line item was discovered in the amount of $1,280. The table below summarizes financially the change in the General Fund bottom line. Page 1 General Fund surplus as presented at 10 -20 -09 budget retreat $ 441 Elimination of community picnic 6,000 Addition of Gore Range Science School support (6,000) Net impact of Airplanners support (2,000) Special Events PTS Wage error (1,280) Final General Fund Surplus (Deficit) 2 83 ) Water Fund One change was made to the Water Fund proposed budget for 2010. The Eagle River Watershed Council financial support was amended from $11,000 down to $6,000. Public Hearing. As required by Town Charter, at the last council meeting a public hearing was held for members of the public to comment on the proposed 2010 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. Town Manager Comments: n Attachments: A - 2010 Financial Overview, Total - All Funds B - 2010 Financial Overview, Total by Fund C — Resolution 09 -31 D — Resolution 09-3' ) • Page 2