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TC Res. No. 2004-40 AMEND THE 2004 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO RESOLUTION NO. 0440 SERIES OF 2004 A RESOLUTION TO AMEND THE 2004 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2003 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2004, AND ENDING ON THE LAST DAY OF DECEMBER, 2004. WHEREAS, the Town Council of the Town of Avon has adopted the 2004 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 2004; and WHEREAS, the Town Council finds it necessary to amend the 2004 budget to more accurately reflect the revenues and expenditures for 2004; 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 as follows for 2004: Original or Previously Amended 2004 Budget General Fund Beginning Fund Balance $ 3,760,312 Revenues and Other Sources 9,566,250 Expenditures and Other Uses 9,649;537 Ending Fund Balance 3.677.025 Current Proposed Amended 2004 Budget $ 3,760,312 9,855,258 9,735,435 3.880.135 1 Mall Maintenance 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 Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Wildridge Special Improvement District Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Original or Previously Amended 2004 Budget $ 52,122 77,024 84,290 $ 44,856 Original or Previously Amended 2004 Budget $ 1,502,417 232,200 169,413 1.565.204 Original or Previously Amended 2004 Budget $ 10,288 1,224,113 1,223,048 $ 11,353 Original or Previously Amended 2004 Budget $ 15,646 47,292 62,140 $ 798 Current Proposed Amended 2004 Budget $ 48,562 54,101 85,760 $ 16,903 Current Proposed Amended 2004 Budget $ 1,502,417 224,700 671,663 1,055,454 Current Proposed. Amended 2004 Budge $ 12,161 1,224,113 1,223,048 $ 13,226 Current Proposed Amended 2004 Budget $ 17,790 50,962 62,008 $ 6,744 2 AMD Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Finance Authority 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 Sherwood Meadows Enterprise Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Original or Previously Amended 2004 Budget $ 31,835 487,843 487,695 $ 31,983 Original or Previously Amended 2004 Budget $ 783,640 2,539,329 2,746,057 $ 576,912 Original or Previously Amended 2004 Budget $ 1,998 1,689,216 1,685,160 $ 6.054 Original or Previously Amended 2004 Buffet $ 5,802 2,008,555 2,012,573 $ 1,784 Current Proposed Amended 2004 Budget $ 32,701 487,843 487,695 $ 32.849 Current Proposed Amended 2004 Budget $ 784,511 2,729,868 2,946,050 $ 568,329 Current Proposed Amended 2004 Budget $ 3,137 1,698,959 1,696,009 $ 6.087 Current Proposed Amended 2004 Budget et $ (3,653) 2,207,557 2,203,904 3 Original or Current Previously Proposed Amended Amended 2004 2004 Budget Budget Fleet Maintenance Internal Service Fund Beginning Fund Balance $ 65,724 $ 64,966 Revenues and Other Sources 1,609,154 1,693,126 Expenditures and Other Uses 1,605,434 1,653,165 Ending Fund Balance $ 69.444 $ 104.927 Original or Current Previously Proposed Amended Amended 2004 2004 Budget Budget Equipment Replacement Internal Service Fund Beginning Fund Balance $ 1,140,850 $ 1,172,749 Revenues and Other Sources 444,681 457,051 Expenditures and Other Uses 270,047 270,047 Ending Fund Balance 1.315.484 1.359.753 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 9t' day of November, 2004. OF TOWN OF AVON, COLORADO AYp~ f fay ti Albert D. Reynolds, May ATTES ~OLORN Pa M envy Town Clerk 4 C Memo. TO: Honorable Mayor and Town Council Thm. Lary Brooks, Town Manager From: Scott Wright, Finance Director Dato November 1, 2004 Re: Adoption of 2005 Budget Summary: The final revised operating budget for 2004 and the final proposed 2005 operating budget are hereby submitted for adoption by the Avon Town Council. There have been no changes since the public hearing. • Because of the upcoming bond refunding the 2 resolutions levying property taxes for general operatin and debt service and the Avon Metropolitan District will be submitted for adoption at the December 14 meeting. Recommendation: Staff recommends that Council adopt the resolutions discussed above as presented. Town Manager Comments: Attachments: A - Resolution 04-40 B - Resolution 04-42 • Page 1