Loading...
TC Res. No. 2002-35RESOLUTION NO. 02-35 SERIES OF 2002 A RESOLUTION TO AMEND THE 2002 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2002 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY . OF JANUARY, 2002, AND ENDING ON THE LAST DAY OF DECEMBER, 2002. WHEREAS, the Town Council of the Town of Avon has adopted the 2002 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 2002; and WHEREAS, the Town Council finds it necessary to amend the 2002 budget to more accurately reflect the revenues and expenditures for 2002; 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 BYTHE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That estimated revenues and expenditures for the following fund is as follows for 2002: Original or Previously Amended 2002 Budget General Fund Beginning Fund Balance $ 3,528,522 Revenues and Other Sources 9,956,087 Expenditures and Other Uses 10,269,557 Current Proposed Amended 2002 Budget $ 3,723,405 9,748,918 10,099,136 Ending Fund Balance $3,215,052 3,373.187 Original or Previously Amended 2002 Budget Transit Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Fleet-Maintenance Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Equipment Replacement Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance $ 7,027 1,838,871 1,838,598 $ 7.300 Original or Previously Amended 2002 Budget $ 160,742 1,306,917 1,400,408 $ 67.251 Original or Previously Amended 2002 Buffet $ 630,332 137,226 91,928 Current Proposed Amended 2002 Budget $ (17,441) 1,848,914 1,831,473 $ 0 Current Proposed Amended 2002 Buda $ 152,404 1,306,917 1,342,988 $ 116.333 Current Proposed Amended 2002 Budget $ 773,212 162,516 130.314 $ 805.414 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. 2 ADOPTED this 23`d day of July, 2002. TOWN OF AVON, COLORADO ATTEST: P"Z~ J~C Patty MpKe y, Tc J Yodei a 41 SE A L DGH G~ 3 Memo TO, Honorable Mayor and Town Council Thna Bill Efting, Town Manager Frone Scott Wright, Finance Direct Data July 18, 2002 Re: Budget Amendment Resolution No. 02-35 Summary: The above referenced budget amendment revises the General Fund, Transit Fund, Fleet Maintenance Fund, and Equipment replacement Fund as detailed below. General Fund As previously discussed with Council, staff has prepared an amendment to the General Fund to revise sales tax and interest revenues and to recognize certain personnel and operating expense arts. In addition, a grant from the Colorado Division of Criminal Justice in the amount of $49,320 for Avon's participation in the High Country Crime Response Team has been added to General Fund Revenues. Previously anticipated personnel cost savings of $65,760 has been left in the Police Patrol budget to offset the cost of the Town's participation in this project Finally, additional subdivision review revenues in the amount of $110,000 from the Village project, offset by an additional $95,500 in related professional services costs has been added to the General Fund budget 2002 General Fund Budget Current 2002 General Fund Spending Deficit Reduction in Sales Tax Revenues to 0% Growth Reduction in Interest Earnings Revised Building Fees Police Grant Subdivision Review Fees Salary and Benefit Savings 5% Across-the-board Operating Cuts Engineering Professional Services Revised Town Attorney Budget Net Recommended Budget Changes ) $(313,470 (244,507) (125,000) 3,018 49,320 110,000 163,903 72,562 (95,500) 29.456 436,748 Page 1 Revised 2002 General Fund Spending Deficit it should be noted that sales tax collections are currently 4.61% below last year. The above budget amendment reflects an estimate at the same level as last year. It should also be noted that an estimated savings of $76,940 from the 0 of July is not included in the above budget amendment, along with a possible $25,000 in rain insurance proceeds. Transit The transit budget is being amended to reflect a decrease in accommodations taxes of $40,000, new fare box revenues of $50,043, PTS wage savings of $33,740, and additional costs for the late night addition of service to the Town Shuttle and Hurd Lane routes of $20,728. Staff recommends that the original addition of 2.5 hours to the Town Shuttle and Hurd Lane routes be cut back by .5 hours because of lack of ridership. These savings ($3,031) are already reflected in the above amendment Fleet Maintenance The Fleet Maintenance budget is being revised to reflect budget savings from reduced personnel costs due to the freezing of vacant positions in the amount of $57,420. Equipment Replacement Fund This budget is being revised to reflect the purchase of a new patrol vehicle to replace the one that was wrecked earlier in the year. Insurance proceeds of $25,290 have been received to help offset the cost of the new vehicle. In addition, certain appropriations in the net amount of $5,386 for recreation center equipment ordered at the end of 2001 and received in 2002 have been carried over to 2002. Town GNiganagernenta~ r Attachments: A - Resolution 02-35 B - General Fund Amended Budget #2 C - Transit Fund Amended Budget #1 D - Fleet Maintenance Fund Amended Budget #1 E - Equipment Replacement Fund Amended Budget #1 0 Page 2 RESOLUTION NO. 02-35 SERIES OF 2002 A RESOLUTION TO AMEND THE 2002 TOWN OF AVON BUDGET A RESOLUTIONS G EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2002 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2002, AND ENDING ON THE LAST DAY OF DECEMBER,, 2002. WHEREAS, the Town Council of the Town of Avon has adopted the 2002 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 2002; and WHEREAS, the Town Council finds it necessary to amend the 2002 budget to more accurately reflect the revenues and expenditures for 2002; 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 fiord is as follows for 2002: Original or Previously Amended 2002 Budget General Fund Beginning Fund Balance $ 3,528,522 Revenues and Other Sources 9,956,087 Expenditures and Other Uses 10,269,557 Current Proposed Amended 2002 Budget $ 3,723,405 9,748,918 10,099,136 Ending Fund Balance $ 3.215.032 Transit Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Fleet Maintenance Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses. Ending Fund Balance Equipment Replacement Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance $ 160,742 1,306,917 1,400,408 $ 67.251 Original or Previously Amended 2002 Budget $ 630,332 137,226 91,928 Current Proposed Amended 2002 Budget $ (17,441) 1,848,914 1,831,473 $ 0. Current . Proposed Amended 2002 Budget $ 152,404 1,306,917 1,342,988 Current Proposed Amended 2002 Bu et $ 773,212 162,516 130,314 Section 2. That the budget, as submitted, amended, and liereinabove summarized by fund, hereby is approved and adopted as the budget of the Town of Avon for the year stated above. Section I That the budget hereby approved and adopted shall be signed by the . Town Manager and made part of the public record of the Town. Original or Previously Amended 2002 Budget $ 7,027. . 1,838,871 1,838,598 7:300 Original or Previously Amended 2002 Bud et 2 ADOPTED this 23rd day of July, 2002. TOVVW OF AVON, COLORADO Judy Yoder, Mayor ATTEST: Patty McKenny, Town Clerk General Fund #10 Amended Budget #2 Original or Current Prev. Amend. Proposed Difference Actual Actual Budget Amendment Inc ivass 2000 2001 2002 2002 (Decrease) _ REVENUES Taxes $ 6;497,103 $ 6,524,156 $ 6,891,946 $ 6,647,439 $ (244,507) Licenses and Permits 498,904. 192,672 343,500 426,078 f 82,578 Intergovernmental 562,325 582,992 611,822 661;142 49,320 Charges for Services 1,389,605 1,280,957 1,555,144 1,565,584 30,440 Fines and Forfeitures 46,873 60,486 58,675 58,675 - Investment Earnings 425,000. 277,308 275,000 150,000 . (125,000) Other Revenue 727,556 328,914 205,000 205,000 - Total Operating Revenues 10,147,366 -9,247,485 9,941,087. 9,733,918 (207,169) Other Source 30,141 101,840 15,000 15,000, - TOTAL REVENUES $ 10,177,507 $ _ 9,349,325 $ 9,956,087. $ - : 9,748,918 $ (207,169) EXPENDITURES General Government $ 2,257,771 $ 2,084,650 $ 2,044,769 $ 2,008,746 $ (36,023) Community Development 608,175 605,560 564,836 465,111 (99,725) . Public Safety 1,467,980 1,662,108 1,609,194 1,553,889 (55,309). Public Works 2,374,943 2,474,795 2,512,640 2,556,367 43,727 Recreation and Culture 2,056,555 2,080,409 2,204,385 2,181,290 (23,095) Total Operating Expenditures 8,765,424 8,907,522 8,935,824 8,765,403 (170,421) Other Uses Transfer;-Out to Mal-1-Maintenance 35,000 25,000 25,000 25,000 - Transfers-Out to Fire Operations 294,333 - - - - Transfers-Out to Debt Service- 399,890 450,000 450,000 450,000 - Transfers-Out to Finance Authority 115.892 135,015 133,733 133,733 - Transfers-Out to Transit 474,232 900,000 600,000 - 600,000. - Transfers-Out to Sherwood Meadows 13,725 160,000 125,000 125,000 - Total Other Uses 1,333,072 1,670,015 1,333,733 1,333,733 - TOTAL EXPENDITURES 10,098,496 10,577,537 10,269,557. 10,099,136 (170,421) NET SOURCE (USE) OF FUNDS 79,011 (1,228,212) (313,470) (350,218) (36,748) FUND BALANCES, Beginning, of Year 4,872,606 4,951,617 3,528,522 3,723,405 194,883 FUND BALANCES, End of Year $ 4,951,617 $ 3,723,405 $ 3,215,052 3,373,187 $ - . 158,135 Page 1 r Transit Enterprise Fund #52 Amended Budget #1 Fund Summary REVENUES Taxes Intergovernmental Charges for Services Other Revenues Total Operating Revenues Other Sources Transfers-In from General Fund TOTAL REVENUES EXPENDITURES Transportation Total Operating Expenditures TOTAL EXPENDITURES NET SOURCE (USE) OF FUNDS FUND BALANCES, Beginning of Year FUND BALANCES, End of Year Original or Current Prev. Amend. Proposed Difference Actual Actual Budget Amendment Increase 2000 2001 2002 2002 (Decrease) $ 234,142 $ 268,142 $ 320,000 $ 280,000 $ (40,000) 79,553 107,999 - - - 2,523,971 2,128,409 918,871 968,914 50,043 4,301 37,638 - - 2,841,967 2,542,188 1,238,871 1,248,914- 10,043 474,232 900,000 600,000 600,000 - 3,316,199 3,442,188 1,838,871 1,848,914 10,043 3,567,925 3,456,777 1,838,598 1,831,473, (7,125) 3,567,925 3,456,777 1,838,598 1,831,473 (7,125) 3,567,925 3,456,777 1,838,598 1,831,473 47,125) (251,726) (14,589) 273 17,441 17,168 248,874 (2,852) 7,027 (17,441) (24,468) $ (2,852) $ (17,441) $ 7,300 $ - $ (7,300) Page 1 Fleet Maintenance Internal Service Fund #61 Budget Amendment #1 Fund Summ REVENUES Charges for Services Other Revenue Total Operating Revenues Other Sources Capital Lease Proceeds TOTAL REVENUES EXPENDITURES Public Works: Fleet Maintenance Washbay TOTAL EXPENDITURES NET SOURCE (USE) OF FUNDS Original or Current Prev. Amend. Proposed Difference Actual Actual Budget Amendment Increase 2000 2001 2002 2002 (Decrease) $ 1,736,704 $ 1,731,621 $ 1,281,917 $ 1,281,917 $ 1,930 ' 98,240 25,000 25,000 1,738,634 1,829,861 1,306,917 1,306,917 30,165 - - - - 1,768,799 1,829,861 1,306,917 1,306,917 1,550,672 1,451,977 1,240,947 1,210,947 (30,000) 163,126 161,358 159,461 132,041 (27,420) 1,713,798 1,613,335 1,400,408 1,342,988 (57,420) 55,001 216,526 (93,491) (36,071) 57,420 FUND BALANCES, Beginning of Year (119,123) (64,122) 160,742 152,404 (8,338) FUND BALANCES, End of Year $ (64,122) $ 152,404 $ 67251 $ 116,333 $ 49,082 Page 1 Equipment Replacement Internal Service Fund #63 Budget Amendment #1 %nd5Summa' Original or. ' . Current Prev. Amend. Proposed Drfference Actual Actual Budget Amendment Increase 2000 2001 2002 2002 (Decrease) REVENUES Charges for Services $ 563,893 $ 552,329 $ 137,226 $ 137,226- $ - Other Revenue 27,038 28,543 - 25,290 25,290 Total Operating Revenues 590,931 580,872 137,226 162,516 25,290 Other Sources Capital Lease, Proceeds - - - - TOTAL REVENUES 590,931 580,872 137,226 162,516 25,290__. EXPENDITURES Capital Outlay: Fleet and Heavy Equipment 239,229 180,712 - 33,000 33,000 Recreation Center Equipment 27,449 89,660 80,400 85,786 5,386 Computer and.Office-Equipment - - 11,528-- 11,528 Other Equipment - - - - TOTAL EXPENDITURES 266,678 270,372.. 91,928 130,314 38,386. NET SOURCE (USE) OF FUNDS 324,253 310,500 45,298 32,202 (13,096) FUND BALANCES, Beginning of Year 138,459 462,712 630,332 773,212 142,880 FUND BALANCES, End of Year $ 462,712 $ 773,212 $ 675,630 $ 805,414 129,784 Page 1