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TC Res. No. 2005-14 AMEND THE 2005 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO RESOLUTION NO. 05-14 SERIES OF 2005 A RESOLUTION TO AMEND THE 2005 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2005 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2005, AND ENDING ON THE LAST DAY OF DECEMBER, 2005. WHEREAS, the Town Council of the Town of Avon has adopted the 2005 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 2005; and WHEREAS, the Town Council finds it necessary to amend the 2005 budget to more accurately reflect the revenues and expenditures for 2005; 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 amended as follows for 2005: Original or Previously Amended 2005 Budget General Fund Beginning Fund Balance $ 3,880,135 Revenues and Other Sources 10,413,978 Expenditures and Other Uses 10,418,356 Current Proposed Amended 2005 Budget $ 3,880,135 10,420,818 10,350,347 Ending Fund Balance 3,875,757 3,950,606 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 12th day of April 2005. ATTEST: 2c, d nG Pa 1 cKenn , Tov n Clerk TOWN OF AVON, COLORADO Ronald C. Wolfe, May Resolution No. 05-14 Amend 2005 GF Budget Page 2 of 2 General Fund #10 Amendment #4 Fund Sumtrta Final Original or Current Revised Prev.-Amend. Proposed Difference Actual Budget Budget Amendment Increase 2003 2004 2005 2005 (Decrease) REVENUES Taxes $ 6,396,695 $ 6,530,377 $ 7,017,344 $ 7,017,344 $ - Licenses and Permits 186,948 213,600 136,600 136,600 - Intergovernmental 623,070 697,440 693,099 693,099 - Charges for Services 1,655,017 1,876,089 1,965,579 1,972,419 6,840 Fines and Forfeitures 56,866 50,750 50,750 50,750 - Investment Earnings 102,573 125,000 150,000 150,000 - Other Revenue 265,693 234,702 272,106 272,106- - Total Operating•Revenues 9,286,862 9,727,958 10,285,478 10,292,318 6,840 Other Sources Sales of Fixed Assets 378 1,500 1,500 1,500 - Transfer-In From Capital Projects Fund 200,000 50,000 50,000 50,000 - Capital Lease Proceeds 339,000. 75,800 77,000 77,000 - Total Other Sources 539,378 127,300 128,500 - 128,500 - TOTAL REVENUES $ 9,826,240 $ 9,855,258 $ 10,413,978 $ 10,420,818 $ 6,840 EXPENDITURES General Government $ 1,432,538 $ 1,584,847 $ 1,673,519 $ 1,693,519 $ 20,000, Community Development 416,569 507,129 523,231, 523,231 - Public Safety 1,557,109 1,648,650 1,712,244 1,712,244 - Public Works 2,515,157 - 2,629,455 2,799,207 2,799,207 - Recreation and Culture 1,939,224 2,040,771 2,111,853 2,123,844 11,991 Total Operating Expenditures - 7,860,597 8,410,852 8,820,054 8,852,045 31,991 Other Uses Transfers-Out to Mall Maintenance - - 15,000 15,000 - Transfeis-Out to Debt Service 480,120 480,120 482,615 482,615 - Transfers-Out to Wildridge SID - 2,500 8,000 8,000 - Transfers-Out to Finance Authority 140,059 137,999 132,687 132,687 _ Transfers-Out to Transit 700,000 390,000 800,000 700,000 (100,000) Transfers-Out to Sherwood Meadows 150,000 123,964 - - - Transfers-Out to Fleet Maintenance 220,000 190,000 160,000 160,000 - Total Other Uses 1,690,179 1,324,583 1,598,302 1,498,302 (100,000) TOTAL EXPENDITURES 9,550,776 9,735,435 10,418,356 10,350,347 (68,009) NET SOURCE (USE) OF FUNDS 275,464 119,823 (4,378) 70,471 74,849 FUND BALANCES, Beginning of Year 3,484,848 3,760,312 3,880,135 3,880,135 - FUND BALANCES, End of Year $ 3,760,312 $ 3,880,135 $ 3,875,757 $ 3,966,606 _ 74,849 F Page 1 General Fund #10 Amendment #4 Final Original or Current Revised Prev. Amend. Proposed Difference Account Actual Budget Budget Amendment Increase Number Description 2003 2004- 2005 2005 (Decrease) Taxes: 81101, General Property Tax 51102 General Property Tax - Delinquent Collections 51103 General Property Tax - Interest 51201 Specific Ownership Tax 51301 Sales Tax 51302 Utility Tax 51303 Accommodation Tax 51304 Penalties and Interest 51305 Sales Tax Audit Assessments 51306 Payments In-Lieu-Of Sales Tax 51402 Franchise Fees 51000 Total Taxes Licenses and Permits: 52101 Liquor Licenses 52102 Business Licenses 52103 Contractor's Licenses 52201 Building Permits 52203 Plumbing Permits 52204 Mechanical Permits 52205 Road Cut Permits 52206 Other Licenses and Permits 52000 Total Licenses and Permits Intergovernmental: Federal Grants: 53198 Other Federal Grants Subtotal: Federal Grants State Grants 53299 Other Subtotal: State Grants State/County Shared Revenue: 53301 Conservation Trust 53302 Motor Vehicle Registration 53303 Highway User's Tax 53304 , Cigarette Tax 53305 County Sales Tax' 53306 Road & Bridge Fund Subtotal: Shared Revenue 53000 Total Intergovernmental 53,824 53,006 53,000 53,000 - 20,261 20,000 20,000 20,000 - 141,582 141,759 147,645 147,645 - 35,255 35,000 35,000 35,000 - 224,836 304,541 305,000 305,000 - 120,949 122,500 122,500 122,500 - 596,707 676,800 683,145 683,145 - 623,070 697,440 693,099 693,099 - Page 2 $ 1,290,623 $ 1,309,558 $ 1,370,489 $ 1,370,489 $ - - 100 - 100 100 - 2,642 1,500 1,500 1,500 - 147,760 155,000 155,000 155,000 4,125,558 3,989,977 4,106,378 4,106,378 - 116,981 125,000 130,000 130,000 - - - 322,400 322,400 - 18,407 15,000 15,000 15,000 - - - 20,000 20,000 - 449,231 629,242 576,477 576,477 - 245,493 305,000 320,000 320,000 - 6,396,695 6,530,377 7,017,344 7,017,344 - 5,736 3,500 3,500 3,500 - 20,415 20,000 20,000 20,000 - 13,715 10,000 10,000 10,000 - 111,951 150,000 82,000 82,000 - 12,990 12,000 7,500 7,500 - 14,992- 12,000 7,500 7,500 - 7,149 6,000 6,000 6,000 - - 100 100 100 - 186,948 213,600 136,600 136,600 - 15,151 8,640 - - - 15,151 8,640 - - - 11,212 12,006 9,954 9,954 - 11,212 12,000 9,954 9,954 - General Fund #10 Amendment #4 Revenu®°©et' it Final Original or Current Revised Prev. Amend. Proposed Difference Account Actual Budget Budget Amendment Increase Number Description 2003 2004 2005 2005 (Decrease) Charges for Services: General Government: 54101 Sale of Map and Publications 361 500 500 500 - 54102 Photocopying Charges 1,483 1,500 1,560 1,500 - 54103 License Hearing Fees 100 100 100 100 - 54104 Other Fees and Charges 1,844 1,500 1,500 1,500 - 54201 Plan Check Fees 98,549 85,000 59,800 59,800 - 64202 Subdivision Review Fees 218,058 94,000' 15,000 15,000 - 54203 Design Review Fees 34,305 20,000 15,000, 15,000 - 54204 Animal Control Fees 120 120 100 100 - 54205 Abatement Services 1,535 100 100 100 - 54301 Police Reports 6,032 6,006 6,000 6,000 - 54302 Police Contract Services 4,713 6,750 6,750 6,750, - 54303 Fingerprinting Fees 1,872 2,500 2,500 2,500 = 54304 VIN Inspection Fees 11,718 17,750 17,750 17,750 - 54305- False Alarm Fees/Misc Police Dept Fees - - - - - 54452 Sherwood Meadows Maintenance Charges 1,531 - - - - 54453 Village at (Avon) Municipal Services 143,310 396,005 521,268 521,268 Subtotal: General Govern. 525,531 631,825 647,868 647,868 - Recreation Facility: 54601 Admission Fees 836,190 953,794 998,458 998,458 - 54602 Program Fees - 39,148 40,546 40,546 47,386 6,840 54603, Rentals 3,192 500 4,000 4,000 - 54604 Merchandise Sales 8,111 10,400 10,400 10,400 - 54605 Childcare 12,711 17,000 17,000 17,000 - 54606 Rec Center Services 16,292 17,000 17,000 17,000 - 54607 Fitness Program Revenues 8,626 6,554 8,947 8,947 - 54608 Locker Rental 150 150 300 300 - Other Recreation: 54651 Adult Program Revenues 14,770 14,720 15,740 15,740 - 54652 Cabin Equipment Rentals 38;119 30,600 30,600 30,600 - 54653 Athletic Field Rentals 2,224 4,000 3,000 3,000 - 54654 Cabin Concessions 5,223 4,000 5,000 5,000 - 54655 Youth Program Revenues 71,344 50,000 61,720 61,720 - 54676 Sponsorships 50,050 72,000 82,000 82,000 - 54677 Advertisements 3,750 5,000 5,000 5,000 - 54678 Event'Fees 19,586 18,000 18,000 18,000 - Subtotal: Recreation 1,129,486 1,244,264 1,317,711 1,324,551 6,840 54000 Total Charges for Services 1,655,017 1,876,089 1,965,579 1,972,419 6,840 Page 3 4 General Fund #10 Amendment #4 - 7f;: Final Original or Current Revised Prev. Amend. Proposed Difference Account Actual Budget Budget Amendment Increase Number Description 2003 2004 2005 2005 (Decrease) Fines and Forfeitures: 55101 Court Fines - Traffic 55102 Court Fines - Criminal 55103 Court Fines - Parking 55104 Court Fines - General 55105 Court Costs 55106 Jury Fees 55107 Bond Forfeitures 55108 Miscellaneous Court Revenues 19,767 15,000 26,661 25,000 3,357 5,000 - 500 4,908 4,000 35 200 900 900 1,238 150 15,000 15,000 - 25,000 25,000 - 5,000 5,000 - 500 500 - 4,000 4,000 - 200 200 - 900 900 - 150 150 - 55000 Total Fines and Forfeitures 56,866 50,750 50,750 50,750 Investment Earnings: - 57101 Interest 102,573 125,000 150,000 150,000 - 57000 Total Investment Earnings 102,573 125,000 •150,000 150,000 - Other Revenues: 58101 Recreational Amenity Fees 89,612 135,978 171,206 171,206 - 58103 Recreational Impact Fee 70,224 - - - - 58106 Community Enhancement Fees 44,767 42,824 45,000 45,000 - 58109 Debt Issuance Fees 20,997 11,900 11,900 11,900 - 58201 Lease of Town-Owned Property 1,000 4,000 4,000 4,000 - 58999 Miscellaneous Nonclassified Revenues 39,093 40,000 40,000 40,000 - 58000 Total Other Revenues 265,693 234,702 272,106 272,106 - 50000 TOTAL REVENUES $ 9,286,862 $ 9,727,958 $ 10,285,478 $ 10,292,318 $ 6,840 Page 4 General Fund #10 Amendment #4 Qe artlT @ntE7C entll~ur@um;rneS Final Original or Current Revised Prev. Amend. Proposed . , Difference Dept./Div. Actual Budget Budget Amendment Increase Number Description 2003 2004 2005 2005 (Decrease) General Government: Legislative: 111 Mayor and Town Council $ 92,299 $ 95,752 $ 103,392 $ 103,392 $ - 112 Boards and Commissions 11,591 15,342 15,602 15,602 - 113 Town Attorney 62,860 106,000 80,000 '80,000 - 114 Public Relations 75,658 72,890 120,510 120,510 - 115 Town Clerk 77,842 100,889 91,718 91,718 - Total Legislative 320,250 390,873 411,222 411,222 Judicial: 121 Municipal Court 68,967 77,236 85,318 85,318 Executive: 131 Town Manager 213,099 236,083 252,254 272,254 20,000 132 Human Resources 107,643 113,958 113,518 113;518_ - - Total Executive 320,742 350,041 365,772 385,772 20,000 Finance Department: 141 Finance 416,985 451,766 479,409 479,409 - 142 Information Systems 114,710 128,761 131,588 131,588 - 149 Nondepartmental 190,884 186,170 200,210 200,210 - Total Financial Administration 722,579 766,697 811,207 811,207 - Total General Government 1,432,538 1,584,847 1,673,519 1,693,519 20,000-_ Community Development: 211 Administration • 100,926 112,855 129,659 129,659 - 212 Planning 121,773 166,986 210,712 210,712 - 213 Building Inspection 193,870 227,288 182,860 182,860 - Total Community Development 416,569 507,129 523,231 523,231 - Police Department: 311 Administration 262,510 270,550 278,010 278,010 - 312 Patrol - 1,131,195 1,286,772 1,336,510 1,336,510 - 313 Investigations 82,300 91,328 97,724 97,724 - 315 Neighborhood Services 81,104 - - - - Total Police 1,557,109 1,648,650 1,712,244 1,712,244 - Page 5 General Fund #10 Amendment' #4 De artinen Fz 5:0011 UP 07S Final • Original or. Current - Revised Prev. Amend. Proposed Difference Dept./Div. Actual Budget Budget Amendment Increase Number Description 2003 2004 2005 2005- (Decrease) Public Works: 411 Administration - 127,614 89,504 92,174 92,174 - 412 Engineering 336,581 278,031 273,012 273,012 - 413 Roads and Streets 1,057,039 1,127,727 1,204,025 1,204,025 - 414 Facilities Maintenance 289,914 334,542 385,388 385,388 - 415- Parks 704,009 799,651 844,608 844,608 - Total Public Works 2,515,157 2,629,455 2,799,207 2,799,207 - Recreation and Culture: 513 Special Events 183,969 237,333 238,260 238,260 514 Administration 333,844 309,840 294,144 294,144 - 515 • Adult Programs 83,476 87,242 45,346 45,346 - 516 Aquatics 377,420 372,447 380,250 380,250 - -517 Childcare 54,501 62,531 37,688 37,688 - 518 Fitness 127,389 102,264 99,265 111,256 11,991 519 Front Desk 198,548 225,630 271,280 271,280 - 520 Maintenance 495,561 569,720 610,936 610,936 - 521 Youth Programs 84,516 73,759 87,483 87,483 = 522 Cabin - - 47,201 47,201 - Total Recreation and Culture 1,939,224 2,040,771 2,111,853 2,123,844 11,991 TOTAL OPERATING EXPENDITURES $ 7,860,597 $ 8,410,852 $ 8,820,054 $ 8,852,045 $ 31,991 Page 6 \0 I' Town of Avon Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Scott Wright, Finance Directo Date: April 7, 2005 Re: Budget Resolution No. 05-14 Summary: A budget amendment is proposed to the General Fund for three items as discussed below resulting in a net increase to the Town's estimated ending fund balance in the amount of $74,849. Previous Council Action: Council previously approved an amendment of $20,000 to the Town Manager's contingency budget for potential mitigation costs on Metcalf Road related to truck deliveries. In addition, Council also approved the Recreation Department's request for funding of a new' spin bike program. Background: Spin Bike Program. In previous Council discussions regarding the spin bike program, Council recommended that staff pursue lease purchasing the bikes. Subsequent to that discussion, Wells Fargo Bank has indicated to staff that the cost of the bikes ($8,951.21) is well'below their minimum lease purchase requirement of $25,000. The vendor for the spin bikes, Fitness Systems, Inc., also offers a lease purchase option. However; the cost difference between purchasing the bikes outright and a'3-year lease is $2,209 which is equivalent to an interest rate of 14.93%. I could not; in good conscience, recommend purchasing the spin bikes in this manner. Therefore, the portion of this proposed budget amendment regarding the spin bike program, includes an appropriation for an outright purchase'of the bikes in'the amount of $8,951. The impact to the Town's fund balance in 2005 for this program is a net decrease of $5,151., Page 1 Transit Funding. This budget amendment also includes a. reduction in the General Fund's subsidy to the Transit Fund due to the $100,000 contribution from ECO that was approved by their board earlier in the year. Recommendation: Staff recommends that Council approve the budget resolution as presented. Town Manager Comments: Attachments: , A,- Resolution No. 05-14 B - General Fund Amendment No. 05-14 H 0 Page 2