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TC Res. No. 2005-25 AMEND THE 2005 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO RESOLUTION NO. 05-25 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 CAPITAL PROJECTS FUND 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 capital projects fund 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 capital projects fund 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 capital project fund is as follows for 2005: Original or Previously Amended 2005 Budget Capital Proiects Fund Beginning Fund Balance $ 6,062,470 Revenues and Other Sources 3,518,935 Expenditures and Other Uses 5,402,811 Ending Fund Balance 4.178.594 Current Proposed Amended 2005 Buffet $ 6,126,149 3,518,935 5,433,616 4,211,43-S Resolution No. 05-25 Budget Amendment Page 1 of 2 Section 2. That the capital projects fund budget, as submitted, amended, and hereinabove summarized, hereby is approved and adopted as the capital projects fund 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 14th day of June, 2005. TOWN OF AVON, COLORADO r Ronald C. Wolfe, Mayor ATTEST: P Patty "c envy o Clerk Resolution-No. 05-25 Budget Amendment Page 2 of 2 Capital Projects Fund #41 Amendment #4 Funci1Summa Original or Prev. Amended Proposed Difference Actual Actual Budget Budget Increase 2003 2004 2005 2005- (Decrease) REVENUES Taxes $ 2,224,452 $ 2,338,060 $ 2,100,000 $ 2,100,000 $ - Intergovemmental 297,837 200,000 1,049,000 1,049,000 - Investment Earnings 33,699 46,704 63;935 63,935 - Other Revenue 7,987 27,712 16,600 16,000 - Total Operating Revenues 2,563,975 2,612,476 3,228,935 3,228,935 - Other Sources! Transfer In from Other Funds 1,186,931 376,069 290,000 290,000 TOTAL REVENUES 3,750,906 2,988,545 3,518,935 3,518,935 - EXPENDITURES Capital Improvements: Facilities - - 2,120,000 2,120,000 - Land and Land Improvements 25,640 244 400,000 400,000 - Roads and Streets 307,943 287,199 2,175,000 2,175,000 - Recreation - - 7,500 38,305 30,805 Stormwater and Drainage 1,216,270 376,069 150,000 150,000 _ - Development Services 97,837 - - - - Strategic Planning 18,563 91,120 25,000 25,000 - Other 3,000 - 165,000 165,000 - Developer Rebates 247,076 158,665 300,000 300,000 - Total 1,916,329 913,297 5,342,500 , 5,373,305 30,805 Other Uses Operating Transfer-Out to General Fund 200,000 50,000 50,000 50,000 - Operating Transfer-Out to Wildridge S.I.D. 12,271 11,292 10,311 10,311 - TOTAL EXPENDITURES 2,128,600 974,589 5,402,811 5,433,616 30,805 NET SOURCE (USE) OF FUNDS 1,622,306 2,013,956 (1,883,876) (1,914,681) (30,805) FUND BALANCE, Beginning of Year 2,489,887 4,112,193 6,062,470 6,126,149 63,679 FUND BALANCE, End of Year $ 4,112,193 $ 6,126,149 $ 4,178,594 $ 4,211,468 $ 32,874 Page 1 Capital Projects Fund #41 Amendment #4 Revenue D"e~ail Original or Prev. Amended Proposed Difference Account Actual Actual Budget Budget Increase Number Description 2003 2004 2005 2005 (Decrease) - Taxes: - 51401 Real Estate Transfer Tax $ 2,224,452 $ 2,338,060 $ 2,100,000 $ 2;100,000 $ - 51000 Total Taxes Intergovernmental: Federal Grants: 53199 Community Development Block Grant 53199 FTA/CDOT Transportation Center Grant Local Government/Other Agency:' 53401 Village at (Avon) 53401 Eaglebend Housing Authority 53000 Total Intergovernmental Investment Earnings: 57101 Interest Earnings 57000 Total Investment Earnings Other Revenues: 58102 Utility Capital Facility Fees 58104 Fireplace Fees 58211 Development Reimbursements 58999 Miscellaneous Nonclassified Revenues 58000 Total Other Revenues Other Sources: 59201 Transfer In from Other Funds 59000 Total Other Sources 50000 TOTAL REVENUES 2,224,452 2,338,060 2,100,000• 2,100,000 - 97,837 - - - - - 824,000 824,000 200,000 200,000 200,000 200,000 - - 25,000 25;000 297,837 200,000 1,049,000 1,049,000, - 33,699 46,704 - 63,935 63,935 33,699 46,704 63,935 63,935 ' - 444 376 1,500 - 4,029 18,328 2,014 9,008 2,000 2,000 - 9,000 9,000 - 5,000 5,000 - 7,987 27,712 16,000 16,000 - 1,186,931 376,069 290,000 290,000 - 1,186,931 376,069 290,000 290,000 - $ 3,750,906 $ 2,988,545 $ 3,518,935 $ 3,518,935 - Page 2 Capital Projects Fund #41 Amendment #4 x C P~;Pro ects~.in~ento , . Original or Prev. Amended Proposed Difference Account Actual Actual Budget Budget Increase Number Description 2003 2004 2005- - 2065 (Decrease) CAPITAL IMPROVEMENT PROJECTS Facilities: 11006 Council Chambers Audio/Video Upgrade $ - $ - $ 70,000 $ 70,000 $ - 11007 Municipal Building Roof Replacement - - 50,000 50,000 - 14001 , Transportation Center - - 2,000,000 2,000,000 - Land and Land Improvements: Parks: 21004 Tract J Bridge Removal 25,640 244 - - - 21005 Wildridge Park improvements and' Playground - - 150,000 150,000 - 21006 V1lildridge PocketPark - New Block 3 or 4 - - 250,000 250,000 - Roads and Streets: Streetscape: 31006 Eaglebend Dr. - - 40,000 40,000 - 31008 Nottingham Rd. Imp. / 1-70 to Buck Creek - 73,694 25,000 25,000 - 31009 Nottingham Rd. Imp. / Buck Creek to Metcalf Rd. 1,902 - - - - Street Improvements: 32005 Buffalo Ridge Commitments 56,941 - - - - 32007 Town Center-Mall Plan Implementation - - 1,200,000 1,200,000 - 32008 E. Beaver Creek Blvd. Improvements - 6,585 - - - Annual Street Improvements: 33003 2003 Paving/Road Improvements 225,650 - - - - 33004 2004 Paving/Road Improvements - 205,735 - - - 33005 2005 Paving/Road Improvements - - 865,000 865,000 - Multi-Modal/Altemative Mobility: 34002 East Avon Access and Circulation 18,126 - - - - 34005 Eagle River Bikepath - Beaver Creek Blvd to Conf. 5,324 - - - - 34007 Wildridge Traffic Calming & Pedestrian Circulation - 1,127 - - - 34009 Swift Gulch'Road Bikepath Extension - 58 45,000 45,000 - Recreation:- 51002 Eagle River Whitewater Park, Access & Viewing - - 7,500 38,305 30,805 Stormwater and Drainage: 61001 Buck Creek / 1-70 to Eagle River 1,216,270 - - - - 61003 • Metcalf Rd. Drainage / 1-70 to Nottingham Rd. - 376,069 - - - 61004 Nottingham-Puder Ditch Restoration - - 150,000 150,000 - Development Services: 65004 Buffalo Ridge 97,837 - - - - Strategic Planning: 79001 General Planning and Consulting 18,563 - - - - 79002 Comprehensive Plan - 82,773 - - - 79004 2004 General Planning and Consulting - 8,347 - - - 79005 2005 General Planning and Consulting - - 25,000 25,000 - Page 3 Capital Projects Fund #41 Amendment #4 CIP Projects Inventory Original or Prev. Amended Proposed Difference Account Actual Actual Budget Budget Increase Number Description 2003 2004 2005 2005 (Decrease) CAPITAL IMPROVEMENT PROJECTS Other. 91001 Fireplace Conversions 93005 2005 Historic Preservation 94005 2005 Water Rights Acquisition Total Capital Improvement Projects 3,000 - - - - - - 25,000 25,000 - 140,000 140,000 $ 1,669,253 $ 754,632 $ 5,042,500 $ 5,073,305 $ 30,805 Page 4 Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Norman Wood, Town Engineer G7/ Date: June 9, 2005 Re: Capital Improvements Fund Budget Amendment for Whitewater Park Design and Construction - Resolution No. 05-25, Series of 2005 Summary: The attached Resolution No. 05-25, Series of 2005, Amending the Capital Improvements Fund Budget has been prepared to provide funding for the design and construction of the Phase I of the Eagle River at Avon Recreation Enhancements Project (Whitewater Park). The proposed Amendment adds expenditures of $409.000 to the current $7,500 preliminary planning budget to provide for design, permitting and construction of Phase I of the Project. The proposed budget Amendment also includes additional revenues of $347,000 from other participants in the project. We recommend council approve Resolution No. 05-25, Series of 2005, A Resolution Amending the Capital Projects Fund Budget for 2005. Recommendation: Approve Resolution No. 05-25, Series of 2005, A Resolution Amending the Capital Projects Fund Budget for 2005. Proposed Motion: I move to approve Resolution No. 05-25 Series of 2005, A Resolution to Amend the 2005 Town of Avon Budget. Attachment: A. Resolution No. 05-25, Series of 2005, A Resolution to Amend the 2005 Town of Avon Budget B. Municipal Services Capital Projects Fund #41 Pages 1 through 4 (Revised) Town Manager Comments: I:\1$:n gWdministration\CIP Budget\2005\Budget M 05-25.Doc RESOLUTION NO. 05-25 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 CAPITAL PROJECTS FUND 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 capital projects fund 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 capital projects fund 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 capital project fund is as follows for 2005: Original or Previously Amended 2005 Budizet Capital Protects Fund Beginning Fund Balance $ 6,062,470 Revenues and Other Sources 3,518,935 Expenditures and Other Uses 5,402,811 Ending Fund Balance 4,178,594 Current Proposed Amended 2005 Budget $ 6,126,149 3,865,935 5,811,811 $ 4,180,273