TC Res. No. 11-18 Amending the 2011 Town of Avon Capital Projects Fund BudgetTOWN OF AVON
RESOLUTION NO. 11-18
SERIES OF 2011
A RESOLUTION TO AMEND THE 2011 TOWN OF AVON CAPITAL
PROJECTS FUND BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES
AND AMENDING THE 2011 CAPITAL PROJECTS FUND BUDGET FOR THE
TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING
ON THE FIRST DAY OF JANUARY, 2011 AND ENDING ON THE LAST DAY
OF DECEMBER, 2011
WHEREAS, the Town Council of the Town of Avon has adopted the 2011
Capital Projects Fund budget; and
WHEREAS, the Town Council has reviewed the revised estimated revenues and
expenditures for 2011; and
WHEREAS, the Town Council finds it necessary to amend the 2011 Capital
Projects Fund budget to more accurately reflect the revenues and expenditures for 2011;
and
WHEREAS, upon due and proper notice, published or posted in accordance with
the law, the proposed budget amendment to the 2011 budget was open for inspection by
the public at a designated place, a public hearing was held on November 22, 2011 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 TOWN COUNCIL OF
THE TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for the Capital Projects
Fund is revised as follows for 2011:
Town of Avon
Resolution No. 11-18
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Section 2. That the Capital Projects Fund budget, as submitted, amended, and
hereinabove summarized, 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 hereby approved, amended, and
adopted shall be signed by the Town Manager and made part of the public record of the
Town.
ADOPTED this 13th day of December, 2011.
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Resolution No. 11-18
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TOWN OF AVON, COLO DO
Rich Carroll, Mayor
Original or
Current
Previously
Proposed
Amended
Amended
2011 Budget
2011 Budget
Capital Proiects Fund
Beginning Fund Balance
$ 5,629,324
$ 6,971,927
Revenues and Other Sources
6,494,300
2,140,969
Expenditures and Other Uses
8,601,278
2,121,904
Ending Fund Balance
3.522.346
6.990.992
Section 2. That the Capital Projects Fund budget, as submitted, amended, and
hereinabove summarized, 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 hereby approved, amended, and
adopted shall be signed by the Town Manager and made part of the public record of the
Town.
ADOPTED this 13th day of December, 2011.
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Resolution No. 11-18
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TOWN OF AVON, COLO DO
Rich Carroll, Mayor
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager Initials
Legal: Eric Heil, Town Attorney
From: Scott Wright, Asst. Town Manager - Finance
Date: December 8, 2011
Re: 2012 Capital Project Fund Budget Adoption and Acceptance of Long-range Capital
Program eSa1w b1rLS qo . 11- 18
Summary:
The Town's final revised Capital Projects Fund budget for 2011 and the proposed 2012
Capital Projects Fund budget are hereby submitted for adoption by the Avon Town Council.
Also submitted for acceptance by the Town Council is the long-range capital program
(otherwise referred to as the 5 -year plan).
Previous Council Action:
Concurrently with the presentation of the Town's operating budgets, the Town Manager
presented his recommended Capital Projects Fund budget at the Council budget retreat held on
September 13ti'. A public hearing was held on November 22°d and final changes to the 2012
proposed budget and long-range plan were submitted to Council at that time (see attached
memorandum from Nov. 22)
Recommendation:
Staff recommends that Council adopt the resolutions discussed above as presented, and accept
the long-range capital program as submitted.
Town Manager Comments:
0
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Attachments:
A — Resolution 11-18
B — Resolution 11-20
C — Capital Projects Fund Budget
D — Long-range Capital Program (5 -year Plan)
E — Memorandum from TC Meeting of November 22, 2011
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