TC Res. No. 11-19 Adopting the 2012 Town of Avon BudgetTOWN OF AVON
RESOLUTION NO. 11-19
SERIES OF 2011
A RESOLUTION TO ADOPT THE 2012 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR
EACH FUND AND ADOPTING A BUDGET FOR THE TOWN OF AVON, COLORADO,
FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2012
AND ENDING ON THE LAST DAY OF DECEMBER, 2012
WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager
to prepare and submit a proposed budget to said governing body on September 13, 2011, for its
consideration; and
WHEREAS, upon due and proper notice, published and 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 November 22, 2011, and interested taxpayers were given the opportunity to
file or register any comment 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 TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for each fund are as follows for
2012:
General Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Town Center West Maintenance Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Town of Avon
Resolution No. 11-19
Page 1 of 3
2012
Proposed
Budge
4,872,313
12,910,363
12,076,770
5.705.906
$ 74,318
240,000
289,933
$ 24.385
Community Enhancement Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
`Vater Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Affordable Mousing Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Facilities Reserve 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
Transit Enterprise Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Town of Avon
Resolution No. 11-19
Page 2 of 3
2012
Proposed
Budget
$ 381,085
70,000
350,000
$ 101.085
$ 2,217,739
165,000
804,238
$ 1.578.501
$ 651,675
0
1,700
$ 649.975
$ 413,251
0
n
413,251
$ 508,700
1,264,800
1,264,800
508,700
$ 662,769
1,258,668
1,391,607
$ 529,830
2012
Proposed
Budget
_Fleet Maintenance Enterprise Fund
Beginning Fund Balance $ 605,804
Revenues and Other Sources 1,491,049
Expenditures and Other Uses 1,666,452
Ending Fund Balance $ 430,401
Equipment Replacement Internal Service Fund
Beginning Fund Balance $ 1,959,491
Revenues and Other Sources 744,399
Expenditures and Other Uses 598,892
Ending Fund Balance L 2,104,998
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 13" day of December, 2011.
'(OWN OF9�0
A�
9ADO•
Town of Avon
Resolution No. 11-19
Page 3 of 3
TOWN OF AVON, COL O
Rich Carroll, Mayor
TOWN OF AVON
Financial Overview
EXPENDITURES
TOTAL - ALL FUNDS
General Government and Finance
Original or
Final
3,113,295
2,727,750
Community Development
Prev. Amend.
Revised
Proposed
530,633
Actual
Budget
Budget
Budget
2,518,896
2010
2011
2011
2012
REVENUES
Transportation and Fleet Maintenance
2,916,196
2,983,713
3,006,746
Taxes
$ 12,770,463
12,567,372
$ 12,654,086
$ 11,788,802
Licenses and Permits
215,635
198,600
243,100
265,600
Intergovernmental
2,760,523
4,656,568
1,348,299
11,620,016
Charges for Services
3,921,277
3,633,657
3,694,979
3,813,844
Fines and Forfeitures
147,058
144,500
205,928
204,250
Investment Earnings
163,992
192,000
166,875
181,316
Other Revenue
434,609
444,000
414,197
373,780
Total Operating Revenues
20,413,557
21,836,697
18,727,464
28,247,608
Other Sources
FUND BALANCES, Beginning of Year
17,895,769
18,371,923
19,344,816
Sales of Fixed Assets
156,339
75,500
86,500
38,700
Bond Proceeds
6,729,913
-
-
Transfers -In From Other Funds
3,592,243
3,469,778
2,397,030
3,406,001
Capital Lease Proceeds
-
565,731
565,731
260,000
TOTAL REVENUES
30,892,052
25,947,706
21,776,725
31,952,309
EXPENDITURES
General Government and Finance
2,560,413
2,731,154
3,113,295
2,727,750
Community Development
598,692
536,647
536,506
530,633
Public Safety
2,354,232
2,388,860
2,488,173
2,518,896
Public Works, Engineering and Utilities
3,224,706
3,352,726
3,411,748
3,424,684
Transportation and Fleet Maintenance
2,916,196
2,983,713
3,006,746
3,058,059
Recreation and Culture
2,144,453
2,336,616
2,294,481
2,358,678
Total Operating Expenditures
13,798,692
14,329,716
14,850,949
14,618,700
Debt Service
2,278,750
1,816,522
1,765,997
1,754,973
Capital Improvements and Equipment Replacement
5,714,056
8,906,317
2,063,228
17,241,214
Other Uses
Transfers -Out To Other Funds
7,651,507
3,469,778
2,397,030
3,406,001
TOTAL EXPENDITURES
29,443,005
28,522,333
21,077,204
37,020,888
NET SOURCE (USE) OF FUNDS
1,449,047
(2,574,627)
699,521
(5,068,579)
FUND BALANCES, Beginning of Year
17,895,769
18,371,923
19,344,816
20,044,337
FUND BALANCES, End of Year $
19,344,816 $
15,797,296 $
20,044,337 $
14,975,758
Section I, Page 1
TOWN OF AVON
Financial Overview Ll
Total Operating Revenues
Other Sources
Sales of Fixed Assets
Capital Lease Proceeds
Transfers -in From Other Funds
TOTAL REVENUES
EXPENDITURES
General Government, Housing and Finance
Community Development
Police
Public Works, Engineering and Utilities
Transportation and Fleet Maintenance
Recreation and Culture
Total Operating Expenditures
Debt Service
Capital Expenditures
Other Uses
Transfers -Out To Other Funds
TOTAL EXPENDITURES
NET SOURCE (USE) OF FUNDS
12,730,006 687,845 70,000 165,000
1,500
178,857 240,000 550,000 - _
12,910,363 240,000 1,237,845 70,000 165,000
2,696,050
4,872,313
TOTAL - BY FUND
706,200
1,700
530,633
651,675
Special Revenue Funds
FUND BALANCES, End of Year
$ 5,705,906 $
Town Urban
Community Affordable Facilities
101,085
General
Center Renewal
Enhancement Water Housing Reserve
289,933
Fund
West Fund
Fund Fund Fund Fund
REVENUE
_
Taxes
$ 9,240,349
$ $ 680,938
$ $ $ $
Licenses and Permits
265,600
_
289,933
Intergovernmental
909.931
1,700
Charges for Services
1,731,196
165,000
Fines and Forfeitures
204,250
_
_
Investment Earnings
85,000
6,907
_
Other Revenue
293,680
-
70,000
Total Operating Revenues
Other Sources
Sales of Fixed Assets
Capital Lease Proceeds
Transfers -in From Other Funds
TOTAL REVENUES
EXPENDITURES
General Government, Housing and Finance
Community Development
Police
Public Works, Engineering and Utilities
Transportation and Fleet Maintenance
Recreation and Culture
Total Operating Expenditures
Debt Service
Capital Expenditures
Other Uses
Transfers -Out To Other Funds
TOTAL EXPENDITURES
NET SOURCE (USE) OF FUNDS
12,730,006 687,845 70,000 165,000
1,500
178,857 240,000 550,000 - _
12,910,363 240,000 1,237,845 70,000 165,000
2,696,050
4,872,313
30,000
706,200
1,700
530,633
651,675
_
FUND BALANCES, End of Year
$ 5,705,906 $
2,518,896
-
101,085
_
$ 649,975
3,020,513
289,933
114,238
2,358,678
_
11,124,770
289,933
30,000
114,238
1,700
-
-
490,173
_
_
-
500,000
_
952,000
-
225,000
350,000 690,000
12,076,770
289,933
1,245,173
350,000 804,238
1,700
833,593
(49,933)
(7,328)
(280,000) (639,238)
(1,700)
FUND BALANCES, Beginning of Year
4,872,313
74,318
706,200
381,085
2,217,739
651,675
413,251
FUND BALANCES, End of Year
$ 5,705,906 $
24,385 $
698,872 $
101,085
$ 1,578,501
$ 649,975
$ 413,251
Section I, Page 2
TOWN OF AVON
Financial Overview
- 37,200 38,700
- - - - 260,000 260,000
710,144 790,000 837,000 100,000 - 3,406,001
1,264,800 12,570,185 1,258,668 1,491,049 744,399 31,952,309
2,727,750
18.66%
TOTAL - BY FUND
3.63%
2,518,896
Debt Service
3,424,684
23.43%
Internal
20.92%
- - 2,358,678
Fund
Capital
Enterprise Funds
Service
Percent
Bond
Projects
Transit Fleet
Equipment
of
Redemption
Fund
Fund Maintenance
Replacement
Total
Total
$ 553,306
$ 1,273,838
$ 40,371 $
$
$ 11,788,802
41.73%
-
-
-
255,600
0.94%
10,416,788
293,297
11,620,016
41.14%
-
88,000 1,382,449
447,199
3,813,844
13.50%
-
- -
-
204,250
0.72%
1,350
88,059
- -
181,316
0.64%
-
1,500
- 8,600
373,780
1.32%
100.00%
554,656 11,780,185 421,668 1,391,049 447,199 28,247,608 1
- 37,200 38,700
- - - - 260,000 260,000
710,144 790,000 837,000 100,000 - 3,406,001
1,264,800 12,570,185 1,258,668 1,491,049 744,399 31,952,309
2,727,750
18.66%
530,633
3.63%
2,518,896
17.23%
3,424,684
23.43%
1,391,607 1,666,452 3,058,059
20.92%
- - 2,358,678
16.13%
1,391,607 1,666,452 14,618,700
100.00%
1,264,800 - - 1,754,973
- 16,142,322 598,892 17,241,214
1,189, 001 3,406,001
1,264,800 17,331,323 1,391,607 1,666,452 598,892 37,020,888
- (4,761,138) (132,939) (175,403) 145,507 (5,068,579)
508,700 6,990,992 662,769 605,804 1,959,491 20,044,337
$ 508,700 $ 2,229,854 $ 529,830 $ 430,401 $ 2,104,998 $ 14,975,758
Section I, Page 3
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: Adoption of Proposed 2012 and Final Revised 2011 Operating Budgets
PSolk�tco,�S
no. ; (10,11 - 19
Summary:
The Town's final revised operating budgets for 2011 and the proposed 2012 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 September 13th. Material changes to the proposed 2012 budget subsequent to
the budget retreat that have been incorporated into the final version for adoption on December
13 include the following:
Material changes to the proposed 2012 budget subsequent to the budget retreat that are
incorporated into the final version for adoption on December 13th include the following:
• Added an Economic Development program to the General Fund. Added $50,000 in
new appropriations and transferred $90,550 in existing appropriations from the Public
Relations program budget.
• Decreased transfers -in from Community Enhancement Fund to the General Fund by
$50,000.
• Reduced miscellaneous revenues in the General Fund by $50,000.
• Increased estimated sales tax revenues in the General Fund by $138,205.
Page 1
• Added approximately 1,500 service hours to the transit budget offset by revenues of
$78,000 from Beaver Creek Resort Company and a reduction of the 2012 equipment
replacement transfer due to the acquisition of one new bus in 2011 by capital lease and
the upcoming acquisition of another bus in 2012 by the use of grant proceeds.
Public Hearing. As required by Town Charter, on November 22, 2011, a public hearing was
held for members of the public to comment on the proposed 2012 budget. No comments were
presented at that meeting by the public.
Recommendation:
Staff recommends that Council adopt the resolutions discussed above as presented.
Town Manager Comments:
Attachments:
A - 2012 Financial Overview, Total - All Funds
B - 2012 Financial Overview, Total by Fund
C — Resolution 11-17
D — Resolution 11-19
0 Page 2
TOWN OF AVON, COLORADO
RESOLUTION NO. 11-17
SERIES OF 2011
A RESOLUTION TO AMEND THE 2011 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY
FUND AND AMENDING THE 2011 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 previously adopted the
2011 budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and
expenditures for all operating funds for 2011; and
WHEREAS, the Town Council finds it necessary to amend the 2011 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 following funds are
revised as follows for 2011:
General Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Town of Avon
Resolution No. 11-17
Page 1 of 3
Original or
Previously
Amended
2011 Budget
$ 5,162,339
13,244,705
12,581,139
5.825.905
Current
Proposed
Amended
2011 Budget
$ 4,079,353
13,270,159
12,477,199
4.872.313
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
Affordable Housing 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
Transit Enterprise Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Town of Avon
Resolution No. 11-17
Page 2 of 3
Original or
Previously
Amended
2011 Budget
$ 79,300
225,000
227,575
76,725
$ 320,018
70,000
160,000
$ 230,018
$ 2,058,537
155,000
1,047,024
1.166,513
$ 651,675
0
1.700
$ 649,975
$ 508,700
1,272,224
1,272,224
$ 508,700
$ 534,810
1,376,985
1,386,344
$ 525,451
Current
Proposed
Amended
2011 Budget
$ 95,525
283,500
304,707
$ 74.318
$ 321,085
70,000
10,000
$ 381,085
$ 2,321,511
162,275
266,047
2.217,739
$ 653,375
0
1,700
$ 651,675
$ 502,885
1,278,039
1,272,224
$ 508,700
$ 653,110
1,376,992
1,367,333
$ 662,769
Fleet Maintenance Enterprise Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Original or
Previously
Amended
2011 Budget
$ 461,251
1,458,772
1,597,369
$ 322,654
Current
Proposed
Amended
2011 Budget
$ 756,068
1,489,149
1,639,413
$ 605.804
Equipment Replacement Internal Service
Fund
Beginning Fund Balance $ 1,884,411 $ 1,887,728
Revenues and Other Sources 704,117 715,117
Expenditures and Other Uses 673,832 643,354
Ending Fund Balance
1.914.6961.959.491
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 13t" day of December, 2011.
TOWN OF AVON, COLORADO
Rich Carroll, Mayor
ATTEST:
Patty McKenny
Town Clerk
Town of Avon
Resolution No. 11-17
Page 3 of 3
TOWN OF AVON
RESOLUTION NO. 11-19
SERIES OF 2011
A RESOLUTION TO ADOPT THE 2012 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR
EACH FUND AND ADOPTING A BUDGET FOR THE TOWN OF AVON, COLORADO,
FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2012
AND ENDING ON THE LAST DAY OF DECEMBER, 2012
WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager
to prepare and submit a proposed budget to said governing body on September 13, 2011, for its
consideration; and
WHEREAS, upon due and proper notice, published and 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 November 22, 2011, and interested taxpayers were given the opportunity to
file or register any comment 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 TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for each fund are as follows for
2012:
2012
Proposed
Budget
General Fund
Beginning Fund Balance $ 4,872,313
Revenues and Other Sources 12,910,363
Expenditures and Other Uses 12,076,770
Ending Fund Balance 5.705.906
Town Center West Maintenance Fund
Beginning Fund Balance $ 74,318
Revenues and Other Sources 240,000
Expenditures and Other Uses 289,933
Ending Fund Balance $ 24,385
Town of Avon
Resolution No. 11-19
Page 1 of 3
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
Affordable Housing Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Facilities Reserve 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
Transit Enterprise Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
Town of Avon
Resolution No. 11-19
Page 2 of 3
2012
Proposed
Budget
$ 381,085
70,000
350,000
$ 101.085
$ 2,217,739
165,000
804,238
1,578.501
$ 651,675
0
1,700
$ 649.975
$ 413,251
0
0
$ 413.251
$ 508,700
1,264,800
1,264,800
$ 508.700
$ 662,769
1,258,668
1,391,607
529,830
2012
Proposed
Buffet
Fleet Maintenance Enterprise Fund
Beginning Fund Balance $ 605,804
Revenues and Other Sources 1,491,049
Expenditures and Other Uses 1,666,452
Ending Fund Balance 430.401
Equipment Replacement Internal Service Fund
Beginning Fund Balance $ 1,959,491
Revenues and Other Sources 744,399
Expenditures and Other Uses 598,892
Ending Fund Balance $ 2.104,998
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 13th day of December, 2011.
TOWN OF AVON, COLORADO
Rich Carroll, Mayor
ATTEST:
Patty McKenny
Town Clerk
Town of Avon
Resolution No. 11-19
Page 3 of 3
TOWN OF AVON
Financial Overview
Other Sources
13,798,692
14,329,716
14,850,949
14,618,700
Sales of Fixed Assets
TOTAL - ALL FUNDS
75,500
86,500
38,700
Bond Proceeds
Original or
Final
-
-
Transfers -In From Other Funds
Prev. Amend.
Revised
Proposed
3,406,001
Actual
Budget
Budget
Budget
260,000
2010
2011
2011
2012
REVENUES
Recreation and Culture
2,144,453
2,336,616
2,294,481
Taxes
$ 12,770,463
12,567,372 $
12,654,086
$ 11,788,802
Licenses and Permits
215,635
198,600
243,100
265,600
Intergovernmental
2,760,523
4,656,568
1,348,299
11,620,016
Charges for Services
3,921,277
3,633,657
3,694,979
3,813,844
Fines and Forfeitures
147,058
144,500
205,928
204,250
Investment Earnings
163,992
192,000
166,875
181,316
Other Revenue
434,609
444,000
414,197
373,780
Total Operating Revenues
20,413,557
21,836,697
18,727,464
28,247,608
Other Sources
13,798,692
14,329,716
14,850,949
14,618,700
Sales of Fixed Assets
156,339
75,500
86,500
38,700
Bond Proceeds
6,729,913
-
-
-
Transfers -In From Other Funds
3,592,243
3,469,778
2,397,030
3,406,001
Capital Lease Proceeds
-
565,731
565,731
260,000
TOTAL REVENUES
30,892,052
25,947,706
21,776,725
31,952,309
EXPENDITURES
13,798,692
14,329,716
14,850,949
14,618,700
General Government and Finance
2,560,413
2,731,154
3,113,295
2,727,750
Community Development
598,692
536,647
536,506
530,633
Public Safety
2,354,232
2,388,860
2,488,173
2,518,896
Public Works, Engineering and Utilities
3,224,706
3,352,726
3,411,748
3,424,684
Transportation and Fleet Maintenance
2,916,196
2,983,713
3,006,746
3,058,059
Recreation and Culture
2,144,453
2,336,616
2,294,481
2,358,678
Total Operating Expenditures
13,798,692
14,329,716
14,850,949
14,618,700
Debt Service
2,278,750
1,816,522
1,765,997
1,754,973
Capital Improvements and Equipment Replacement
5,714,056
8,906,317
2,063,228
17,241,214
Other Uses
Transfers -Out To Other Funds
7,651,507
3,469,778
2,397,030
3,406,001
TOTAL EXPENDITURES
29,443,005
28,522,333
21,077,204
37,020,888
NET SOURCE (USE) OF FUNDS
1,449,047
(2,574,627)
699,521
(5,068,579)
FUND BALANCES, Beginning of Year 17,895,769 18,371,923 19,344,816 20,044,337
FUND BALANCES, End of Year $ 19,344,816 $ 15,797,296 $ 20,044,337 $ 14,975,758
Section I, Page 1
TOWN OF AVON
Financial Overview
Total Operating Revenues
12,730,006
687,845
70,000
165,000
TOTAL - BY FUND
Other Sources
Sales of Fixed Assets
Special Revenue Funds
-
Town Urban
Community Affordable Facilities
General
Center Renewal
Enhancement Water Housing Reserve
-
Fund
West Fund
Fund Fund Fund Fund
REVENUE
178,857
240,000
550,000
Taxes
$ 9,240,349
$ $ 680,938
$ $ $ $
Licenses and Permits
265,600
-
70,000
intergovernmental
909,931
EXPENDITURES
Charges for Services
1, 731,196
165,000
Fines and Forfeitures
204,250
-
-
Investment Earnings
85,000
6,907
1,700
Other Revenue
293 680
-
70 000
Total Operating Revenues
12,730,006
687,845
70,000
165,000
Other Sources
Sales of Fixed Assets
1,500
-
-
-
Capital Lease Proceeds
-
-
-
Transfers -In From Other Funds
178,857
240,000
550,000
-
-
TOTAL REVENUES
12,910,363
240,000
1,237,845
70,000
165,000
EXPENDITURES
General Government, Housing and Finance
2,696,050
-
30,000
-
-
1,700
Community Development
530,633
-
-
Police
2,518,896
-
-
Public Works, Engineering and Utilities
3,020,513
289,933
114,238
Transportation and Fleet Maintenance
-
-
-
Recreation and Culture
2,358,678
-
-
-
-
Total Operating Expenditures
11,124,770
289,933
30,000
114,238
1,700
Debt Service
-
-
490,173
-
-
Capital Expenditures
-
500,000
-
-
Other Uses
Transfers -Out To Other Funds
952,000
-
225,000
350,000
690,000
-
TOTAL EXPENDITURES
12,076,770
289,933
1,245,173
350,000
804,238
1,700
NET SOURCE (USE) OF FUNDS
833,593
(49,933)
(7,328)
(280,000)
(639,238)
(1,700)
FUND BALANCES, Beginning of Year
4,872,313
74,318
706,200
381,085
2,217,739
651,675 413,251
FUND BALANCES, End of Year
$ 5,705,906 $
24,385
$ 698,872 $
101,085
$ 1,578,501 $
649,975 $ 413,251
Section I, Page 2
TOWN OF AVON
Financial Overview
- 37,200 38,700
- 260,000 260,000
710,144 790,000 837,000 100,000 - 3,406,001
1,264,800 12,570,185 1,258,668 1,491,049 744,399 31,952,309
1,391,607 1,666,452
- - 1,391,607 1,666,452
1,264,800 - -
- 16,142,322
2,727,750
18.66%
530,633
3.63%
2,518,896
17.23%
3,424,684
TOTAL - BY FUND
3,058,059
20.92%
2,358,678
16.13%
Debt Service
Internal
Fund
Capital
Enterprise Funds
Service
Percent
Bond
Projects
Transit Fleet
Equipment
of
Redemption
Fund
Fund Maintenance
Replacement
Total
Total
$ 553,306
$ 1,273,838
$ 40,371 $
$
$ 11,788,802
41.73%
-
-
-
265,600
0.94%
10,416,788
293,297
11,620,016
41.14%
-
88,000 1,382,449
447,199
3,813,844
13.50%
-
- -
-
204,250
0.72%
1,350
88,059
-
181,316
0.64%
-
1,500
- 8,600
373,780
1.32%
554,656
11,780,185
421,668 1,391,049
447,199
28,247,608
100.00%
- 37,200 38,700
- 260,000 260,000
710,144 790,000 837,000 100,000 - 3,406,001
1,264,800 12,570,185 1,258,668 1,491,049 744,399 31,952,309
1,391,607 1,666,452
- - 1,391,607 1,666,452
1,264,800 - -
- 16,142,322
2,727,750
18.66%
530,633
3.63%
2,518,896
17.23%
3,424,684
23.43%
3,058,059
20.92%
2,358,678
16.13%
- 14,618,700 1 100.00%1
- 1,754,973
598,892 17,241, 214
- 1,189,001 - - - 3,406,001
1,264,800 17,331,323 1,391,607 1,666,452 598,892 37,020,888
- (4,761,138) (132,939) (175,403) 145,507 (5,068,579)
508,700 6,990,992 662,769 605,804 1,959,491 20,044,337
$ 508,700 $ 2,229,854 $ 529,830 $ 430,401 $ 2,104,998 $ 14,975,758
Section I, Page 3