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TC Res. No. 2007-44 AMEND THE 2007 TOWN OF AVON BUDGETTOWN OF AVON, COLORADO RESOLUTION NO.07-44 SERIES OF 2007 A RESOLUTION TO AMEND THE 2007 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES AND' AMENDING THE 2007 CAPITAL PROJECTS FUND BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2007; AND ENDING ON THE LAST DAY OF DECEMBER, 2007. WHEREAS, the Town Council of the Town of Avon has adopted the 2007 Capital Projects Fund budget; and WHEREAS, the Town Council has reviewed the revised estimated revenues and expenditures for 2007; and WHEREAS, the Town Council finds it necessary to amend the 2007 Capital Projects Fund budget to more accurately reflect the revenues and expenditures for 2007; 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 Projects Fund is revised as follows for 2007: Original or Previously Amended 2007 Budget Capital Proiects Fund Beginning Fund Balance $ 7,731,519 Revenues and Other Sources 7,344,752 Expenditures and Other Uses 10,383,071. Ending Fund Balance 4,693,200 Current Proposed Amended 2006 Budget $ 7,731,519 7,137,337 9,576,501 5,292,355 Resolution No. 07-44 Final Amended CIP 07 Page I of 2 Section 2. That the Capital Projects Fund budget, as submitted, amended, and hereinabove summarized, hereby is approved and adopted as the capital program budget of the Town of Avon for the year stated above. Section 3. That the Capital Projects Fund budget hereby approved, amended; and . adopted shall be signed by the Town Manager and made part of the public record of the. Town. ADOPTED this 11 t' day of December, 2007. TOWN' AVONCOLORADO nF Ronald C. Wolfe, Mayor ATTESTT&~ Resolution No. 07-44 Final Amended CIP 07 Page 2 of 2 Dl 94 Town of Avon Memo To: Honorable Mayor and Town Council Thrm. Lany Brooks, Town Manager Rrvrrc Scott Wright, Asst. Town Manager - Finan Date: - December 5, 2007 Re: 2008 Capital Project Fund Budget Adoption and Acceptance of Long-range Capital Program Stamm : The Town's final revised Capital Projects Fund budget for 2007 and the proposed 2008 Capital Projects Fund budget is hereby submitted for adoption by the Avon Town Council. Also submitted for acceptance by the Town Council is the long-range capital program (otherwise referred to as the 5=year plan) Previous Council Action: Concurrently with the presentation of the Town's operating budgets, the Town Manager presented his recommended Capital Projects Fund budget at the Council budget retreat held on October 1e and 17'".. A public hearing was held on November 27~'. There were no comments from the public at that time.. _ Recommendation: Sta4 recommends that Council adopt the resolutions discussed above as presented, and accept the long-range capital program as submitted. Town Mama er Comments: Attachments. A - Resolution 07-44 B - Resolution 07-46.. C - Capital Projects Fund Summary D -Long-range Capital Program (5-year Plan) Page 1 RESOLUTION NO. 07-44 SERIES OF 2007 A RESOLUTION TO AMEND THE 2007 TOWN OF AVON BUDGET A RESOLUTION SUMIVIARIZING EXPENDITURES AND REVENUES AND AMENDING THE 2007 CAPITAL PROJECTS FUND BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON'THE FIRST . DAY OF JANUARY, 2007, AND ENDING ON THE LAST DAY OF DECEMBER, 2007. WHEREAS, the Town Council of the Town of Avon has adopted the 2007 Capital:Projects Fund budget; and WHEREAS, the Town Council. has reviewed the revised estimated revenues and expenditures for 2007; and WHEREAS, the Town Council finds it necessary to amend the 2007 Capital Projects Fund budget to more accurately reflect the revenues and expenditures for 2007; 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 Projects Fund is revised as follows for 2007: Capital Proieets Fund Beginning Fund Balance. Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Original or Current Previously Proposed Amended . Amended 2007 2006 Buda et . Budget $ 7,731,519 $ 7,731,519 7,344,752 7,137,337 10,383,071 .9, 5 76, 5 01 4.693.200 5,292,355 1