TC Res. No. 1991-02RESOLUTION NO. 91-02
SERIES OF 1991
A RESOLUTION TO AMEND THE 1990 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH
FUND AND AMENDING THE 1990 BUDGET FOR THE TOWN OF AVON, COLORADO,
FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 1990
AND, ENDING ON THE LAST DAY OF DECEMBER, 1990.
WHEREAS, the Town Council of the Town of Avon has adopted the
1990 budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues
and expenditures for 1990; and
WHEREAS, the Town Council finds it necessary to amend the 1990
budget to more accurately reflect the revenues and expenditures for
1990; 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 expenditures for the funds are
as follows for 1990:
1990
BUDGET
General Fund $4,476,982
Transfer to Public Works Fund
(payment to bond escrow/bond fees)
Total Expenditures
1990
AMENDED
BUDGET
$150,000
$4,626,982
•
Public.Works Fund
Transfer to Debt Service Fund
(Bond-Escrow)
Total Expenditures
Debt Service Fund
Refunding Escrow Payment
Total Expenditures
Wildridge Imp. Construction Fund
Issuance Costs
(on bond issue)
Bond Interest Expense
(interest transferred to SA fund)
Transfer'to WR Special Ass. Fund
(Excess construction proceeds)
Other-
(supplies, engineering)
Total Expenditures
Wildridge Special Assessment Fund
S A Bond Principal"Expense
(record call on bonds)
S A Bond Interest Expense
( interest • transferred from Const. fund.)
Other
Total Expenditures
Town Center Mall-Special Assessment
Total Expenditures
•
1990
BUDGET
$2,376,382
$511,796
$1,247,227
1990
AMENDED
BUDGET
$1,725,800
$4,102,182
$1,576,000
$2,087,796
$104,325
($60,293)
$133,000
$741
$1,425-1000
$0
$340,000
$48,441
$1,000
$389,441
$31,138
$31,138
•
Section 2. That estimated revenues for the funds are as
follows:
General Fund
1990 1990
BUDGET AMENDED
BUDGET
Revenues $4,243,484 $4,243,484
Fund Balance 233,498 383,498
Total Revenues $4,476,982 $4,626,982
Public Works Fund
Revenues $3,262,376 $3,262,376
Bond Proceeds $1 575,950
Transfer from General Fund 4150,000
Fund Balance 0 0
Total Revenues $3,262,376 $4,988,326
Debt Service Fund
Revenues $507,419 $507,419
Transfer from Public Works $1,725,800
Fund Balance 4,377 0
Total Revenues $511,796 $2,233,219
Wildridge Imp. Construction Fund
Revenues $1,344,418 $1,344,418
Bond Proceeds $90,582
Interest on Investments ($10,000)
(transferred to S.A. Fund)
Total Revenues $1,344,418 $1,425,000
Wildridge Imp. Special Ass. Fund
Revenues $0 $0
Interest on Investments $5,900
Special Assessment Revenue $331,456
Transfer from Wildridge Const. Fund $133,000
Total Revenues $0 $470,356
Town Center Mall Spec. Ass. Fund
Revenues $28,650 $28,650
Interest on Investments ($100)
(adjust estimate to actual)
Fund Balance $2,488 $2,588
Total Revenues $31,138 $31,138
0
0
Section 3. 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 4. That the budget hereby approved and adopted shall be
signed by the Town Manager and made part of the public records of the
Town.
ADOPTED this 8th day of January, 1991
TOWN OF AVON, COLORADO
4 Je Da s, may-or