The URL can be used to link to this page

TC Res. No. 1999-16RESOLUTION NO. 99-16 SERIES OF 1999 A RESOLUTION TO AMEND THE 1999 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 1998 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 1999, AND ENDING ON THE LAST DAY OF DECEMBER, 1999. WHEREAS, the Town Council of the Town of Avon has adopted the 1999 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 1999; and WHEREAS, the Town Council finds it necessary to amend the 1999 budget to more accurately reflect the revenues and expenditures for 1999; 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 fund is as follows for 1999: Original or Previously Amended 1999 Budget Capital Projects Fund Beginning Fund Balance $ 4,300,455 Revenues and Other Sources 1,272,000 Expenditures and Other Uses 4,972,292 Ending Fund Balance $ 600,163 Current Proposed Amended 1999 Budget $ 6,031,173 1,822,836 5,947,479 $ 1,890,339 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 Town Manager and made part, of the public record of the Town. ADOPTED this 11'' day of May, 1999. ATTEST: 's as~r Stacy Mays TOWN OF AVON, COLORADO J Yode or Capital Projects Fund #41 Amended Budget #1 -1999 - - urttd~SJumftia Original or Current Prev. Amend. Proposed Difference Actual Actual Budget Amendment Increase 1996 1997 1998 1998 (Decrease) REVENUES Taxes $ 1,543,707 $ 1,950,670 $ 1,050,000 $ 1,050,000 $ - Intergovernmental 1,221,305 607,869 - 300,000 300,000 Investment Earnings 162,915 125,804 100,000 100,000 - Other Revenue 3,439 73,969 8,000 8,000 - Total Operating Revenues 2,931,366 2,758,312 1,158,000 1,458,000 300,000 Other Sources: Transfers In from Other Funds - 2,059,507 - 250,836 250,836 Capital Lease Proceeds - 114,000 114,000 114,000 - Bond Proceeds 3,619,721 7,003,566 - - - TOTAL REVENUES 6,551,087 11,935,385 1,272,000 1,822,836 550,836 EXPENDITURES Capital Improvements: Facilities 80,104 4,965,193 3,639,358 4,580,736 941,378 Land and Land Improvements 173,439 128,966 - - - Roads and Streets 4,885,342 1,565,150 828,000 1,063,000 235,000 Recreation - - 185,000 - (185,000) Strategic Planning 26,195 44,537 25,000 25,000 - Communications 23,784 - 139,939 139,939 - Other 3,750 1,500 6,000 6,000 - Debt Service: Principal 50,000 397,321 132,804 132,804 - Interest 3,750 - - - - Bond Issuance Costs 116,461 236,187 - - - Total 5,362,825 7,338,854 4,956,101 5,947,479 991,378 Other Uses Operating Transfer-Out to Debt Service - 563,570 - - - Operating Transfer-Out to Wildridge S.I.D. 18,151 17,171 16,191 16,191 - TOTAL EXPENDITURES 5,380,976 7,919,595 4,972,292 5,963,670 991,378 NET SOURCE (USE) OF FUNDS 1,170,111 4,015,790 (3,700,292) (4,140,834) (440,542) FUND BALANCE, Beginning of Year 845,272 2,015,383 4,300,455 6,031,173 1,730,718 FUND BALANCE, End of Year $ 2,015,383 $ 6,031,173 $ 600,163 $ 1,890,339 $ 1,290,176 Page 1 ,Capital Projects Fund #41 Amended Budget #1 -1999 ~tevenue ~le~_ait Original or Current Prev. Amend. Proposed Difference Account Actual Actual 'Budget Amendment Increase Number Description 1997 1998 1999' 1999 (Decrease)__ - - Taxes: 51461 Real Estate Transfer Tax $ 1,543,707 $ 1,950,670 $ 1,050,000 $ 1,050,000 $ 51000 Total Taxes 1,543,707 1,950,670 1,050,000 1,050,000 - Intergovernmental: Federal Grants: 53102 OEC Grant . Subtotal: Federal Grants State Grants: 53201 CDOT Subtotal: State Grants Local Government/Other Agency: 53401 Avon Village 53401 Beaver Creek Metro District _ 53401 Bachelor Gulch/Smith Creek 53401 Arrowhead 53401 Eagle River Water & Sanitation District Subtotal: Local Government/Other Agency 53000 Total Intergovernmental Investment Earnings: 57101 Interest Earnings 57000 Total Investment Earnings Other Revenues: 58102 Utility Capital Facility Fees 58103 Fireplace Fees 58999 Miscellaneous Nonclassified Revenues 58000 Total Other Revenues Other Sources: 59201 Transfer In from Other Funds 59301 General Obligation Bond Proceeds 59303 Capital Lease Proceeds 59304 Certificates of Participation Proceeds 59000 Total Other Sources 50000 TOTAL REVENUES 40,000 - - - 40,000 - - 268,000 89,319 - - 268,000 89,319 - - - - - - 300,000 300,000 578,691 283,798 - - - 143,874 199,293 - - - 70,910 35,459 - - - 119,830 - - - - 913,305 518,550 - 300,000 300,000 1,221,305 607,869 - 300,000- - 300,000 162,915 125,804 100,000 100,000 - 162,915 125,804 100,000 100,000 - 1,017 1,696 2,000 2,000 - 1,500 4,500 6,000 6,000 - 922 67,773 - - - 3,439 73,969 8,000 8,000 - - 2,059,507 - 250,836 250,836 3,619,721 - - - - _ 114,000- 114,000 114,000 - 7,003,566 - - - 3,619,721 9,177,073 114,000 364,836 250,836 $ 6,551,087 $ 11,935,385 $ 1,272,000 $ 1,822;836 550,836 Page 2 Capital Projects Fund #41 Amended Budget #1 -1999 Original or Current Prev. Amend. Proposed Difference Account Actual Actual Budget Amend. Budget Increase Number Description 1997 1998 1999 1999- (Decrease) CAPITAL IMPROVEMENT PROJECTS Facilities: 11001 Municipal Building Improvements N/A Municipal Building Rock Work 12001 Fire Station Expansion/Remodel 13001 Swift Gulch Facility .13002 Pump House and Picnic Shelter 13003 Park Equipment Storage Land and Land Improvements: Pants: 21001 Pocket Parks N/A Lot 16 Roads and Streets: Streetscape: 31001 Streetscape Planning 31002 W. Beaver Creek Blvd. 31003 Wildridge Entry Sign Street Improvements: 32001 Paving/Road Improvements 32002 W. Beaver Creek Blvd. RR Crossing 32003 Chapel Square Reimbursement Multi-Modal/Alternative Mobility 34001 Sidewalks 34002 East Avon Access and Circulation Implementation 34003 Roundabout Pedestrian Crosswalk Improvements 35001 Roundabouts 36001 Public Art Work Recreation: ,51001 Nottingham Park Basketball Court Strategic Planning: 71001 Development Analysis and Review 79001 Planning and Consulting Communications: 81001 800 Mhz Radio System N/A Telecommunications Study Other: 91001 Fireplace Conversions Total Capital Improvement Projects 3,626 363,669 - 9,867 - - - - 18,000 66,611 4,240,472 • 3,321,358 - 361,052 - - - - 300,000 2,699 128,966 - 170,740 - - 41,178 45,000 104,000 153,871 181,308 186-1000 - 51,344 - 30,675 - 4,700,796 1,155,320 - 136,000 19,945 20,768 6,250 23,769 18,000 - 4,262,736 941,378 300,000 - 45,000 - (104,000) 186,000 - 200,000 200,000 265,000 265,000 - - 139,000 139,000 228,000 228,000 - 185,000 - (185,000) 25,000 25,000 - - 139,939 139,939 - 23,784 - - - - 3,750 1,500 6,000 6,000 - $ 5,192,614 $ 6,705,346 $ 4,823,297 $ 5,814,675 $ 991,378 Page 3