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TC Res. No. 2010-25 Accept the proposed town of avon long range capital program and simultaneously adopt the year 2011 capital projects fund budgetTOWN OF AVON RESOLUTION NO. 10 -25 SERIES OF 2010 A RESOLUTION TO ACCEPT THE PROPOSED TOWN OF AVON LONG RANGE CAPITAL PROGRAM AND SIMULTANEOUSLY ADOPT THE YEAR 2011 CAPITAL PROJECTS FUND BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR THE CAPITAL PROJECTS FUND AND ADOPTING A BUDGET FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2011 AND ENDING ON THE LAST DAY OF DECEMBER, 2011 WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager to prepare and submit a long -range capital program to said governing body for its consideration; and WHEREAS, the Town Council of the Town of Avon has also appointed the Town Manager to prepare and submit a proposed Capital Projects Fund budget to said governing body for its consideration; and WHEREAS, upon due and proper notice, published and posted in accordance with the law, said proposed budget was open for inspection by the public at a designated place. A public hearing was held on November 9, 2010, and interested taxpayers were given the opportunity to file or register any comment to said proposed budget; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the Capital Projects Fund 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 the long -range capital program as submitted to the Town Council is hereby accepted as an official Town document and planning tool, and that the information contained therein may be revised or extended each year with regard to capital improvements. Town of Avon Resolution No. 2010 -25 Page 1 of 2 Section 2. That estimated revenues and expenditures for the Capital Projects Fund are as follows for 2011: 2011 Proposed Budget Capital Projects Fund Beginning Fund Balance $ 3,522,346 Revenues and Other Sources 6,494,300 Expenditures and Other Uses 8,601,278 Ending Fund Balance 3,522,346 Section 3. That the budget, as submitted, 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 4. That the Capital Projects Fund budget hereby approved and adopted shall be signed by the Mayor and made part of the public record of the Town. ADOPTED this 23rd day of November, 2010. ATTEST: q<— Town Clerk Town of Avon Resolution No. 2010 -25 Page 2 of 2 TO AVON, CO :SEAL: �oioa�a� • REVENUES Taxes Intergovernmental Investment Earnings Other Revenue Total Operating Revenues Other Sources: MUNICIPAL SERVICES Capital Projects Fund #41 Fu 'd Surnma Original or Prev. Amend. Actual Budget 2009 2010 Final Revised Proposed Budget Budget 2010 2011 $ 1,761,980 $ 2,091,798 $ 1,950,000 $ 1,665,800 297,963 1,767,608 1,767,608 3,750,000 69,273 80,104 80,104 75,000 26,635 1,500 1,500 1,500 2,155,851 3,941,010 3,799,212 5,492,300 Bond Proceeds - - 3,310,000 - Transfer In from URA 270,000 - - - Transfer In from Community Enhancement - 220,000 60,000 100,000 Transfer In from Water Fund 278,875 239,320 239,320 902,000 Transfer In from Facilities Reserve Fund - 100,000 100,000 - Section I, Page C -1 Total Other Sources 548,875 559,320 3,709,320 1,002,000 TOTAL REVENUES 2,704,726 4,500,330 7,508,532 6,494,300 EXPENDITURES Debt Service: • Bond Issuance Costs 77,695 Capital Improvements: Facilities 697,189 700,278 975,278 4,995,485 Land and Land Improvements 61,014 538,985 392,001 1,100,000 Roads and Streets 693,460 481,665 501,665 955,000 Utilities 187,661 4,357,505 4,357,505 - Recreation - - - - Water Fund Projects 278,875 239,320 239,320 902,000 Communications and Technology 39,720 125,000 125,000 55,000 Strategic Planning 301,300 99,370 99,370 25,000 Other 3,277 25,000 25,000 - Rebates and Capital Contributions 295,659 75,928 75,928 - Total Capital Improvements 2,558,155 6,643,051 6,868,762 8,032,485 Other Uses Operating Transfer -Out - General Fund 308,314 317,563 317,563 317,563 Operating Transfer -Out - Debt Service Fund - - 232,305 251,230 Total Other Uses 308,314 317,563 549,868 568,793 TOTAL EXPENDITURES 2,866,469 6,960,614 7,418,630 8,601,278 NET SOURCE (USE) OF FUNDS (161,743) (2,460,284) 89,902 (2,106,978) FUND BALANCE, Beginning of Year 5,701,165 5,588,319 5,539,422 5,629,324 • FUND BALANCE, End of Year $ 5,539,422 $ 3,128,035 $ 5,629,324 $ 3,522,346 Section I, Page C -1 MUNICIPAL SERVICES Capital Projects Fund #41 Intergovernmental: Federal /State Grants: 53199 DOW FIF Grant - Fishing Pier 53199 FTA Grant - Transit Facilities Improvement Project 53299 DOLA Grant - Heat Recovery System Local GovernmenUOther Agency: 53401 ECO Cost Sharing (Transit Facilities Program) 53401 ERWSD Cost Sharing (Heat Recovery Project) 53402 Eagle County Grants Traer Creek Metro District: 53401 Nottingham -Puder Ditch Cost Sharing 53000 Total Intergovernmental Investment Earnings: 57101 Interest Earnings Other Revenues: 58104 Fireplace Fees 58108 Finance Charges 58211 Developer Reimbursements: 58000 Total Other Revenues - Revenue Der ^ail 108,000 - - - - 3,750,000 22,793 1,327,208 1,327,208 - 235,360 - Original or Final 332,400 332,400 - 11,700 Prev. Amend. Revised Proposed Account Actual Budget Budget Budget Number Description 2009 2010 2010 2011 Taxes: 51401 Real Estate Transfer Tax $ 1,761,980 $ 2,091,798 $ 1,950,000 $ 1,665,800 51000 Total Taxes 1,761,980 2,091,798 1,950,000 1,665,800 Intergovernmental: Federal /State Grants: 53199 DOW FIF Grant - Fishing Pier 53199 FTA Grant - Transit Facilities Improvement Project 53299 DOLA Grant - Heat Recovery System Local GovernmenUOther Agency: 53401 ECO Cost Sharing (Transit Facilities Program) 53401 ERWSD Cost Sharing (Heat Recovery Project) 53402 Eagle County Grants Traer Creek Metro District: 53401 Nottingham -Puder Ditch Cost Sharing 53000 Total Intergovernmental Investment Earnings: 57101 Interest Earnings Other Revenues: 58104 Fireplace Fees 58108 Finance Charges 58211 Developer Reimbursements: 58000 Total Other Revenues - 108,000 108,000 - - - - 3,750,000 22,793 1,327,208 1,327,208 - 235,360 - - - - 332,400 332,400 - 11,700 - - 28,110 - - - 297,963 1,767,608 1,767,608 3,750,000 69,273 80,104 80,104 75,000 - 1,500 1,500 1,500 511 - - - 26,124 - - - 26,635 1,500 1,500 1,500 50000 TOTAL REVENUES $ 2,155,851 $ 3,941,010 $ 3,799,212 $ 5,492,300 • Section I, Page C -2 F MUNICIPAL SERVICES Capital Projects Fund #41 CIP Projects Inventory Original or Final Prev. Amend. Revised Proposed Account Actual Budget Budget Budget Number Description 2009 2010 2010 2011 - $ 100,000 $ CAPITAL IMPROVEMENT PROJECTS 40,000 461,580 General Government Facilities: - 11009 Town Hall Control System $ 12,624 - 300,000 Public Works Facilites: - 20,000 - Public Works / Transportation Fac. Imp. Program: 3,000,000 13006 Preliminary Design 13007 Final Design Phase 1 Bus Fuel/Wash /Site Improvements 40 - Sitework/Foundation for Bus Storage Facility _ - Public Works Improvements - Transportation Facilites: - 14001 Transportation Center Facility 59,761 14003 Bus Stop Improvements _ 14004 Fuel Depot Replacement - _ Cultural and Recreational Facilites: 25,278 15002 Recreation Center - Storage / Office - 15004 Recreation Center CMU Block Deterioration Invest. - 15005 Rec. Center Vapor Barrier Repair 400,000 15006 Rec. Center CMU Block Deterioration Mitigation 15007 Rec. Center Roof Repair • Land and Land Improvements: Parks: 21009 Forest Service Land Acquisition 21010 Nottingham Park Trail Maintenance and Signage 21011 Nottingham Park Stage 21013 Nottingham Park Fishing Pier 21014 Nottingham Park Capital Improvements 21050 Whitewater Park Repairs Roads and Streets: Streetscape: 31010 Lighting Study & Conversion 1 -70 Noise Reduction Design 1 -70 Noise Reduction Street Improvements: 32008 E. Beaver Creek Blvd Improvements 32012 F/S Wildridge Access & Drainage Improvements Annual Street Maintenance: 33009 2009 Paving / Road Improvements 33010 2010 Paving / Road Improvements 33011 2011 Paving / Road Improvements Multi - Modal /Alternative Mobility: 34013 Recreational Trails Master Plan 34014 Metcalf Bicycle Climbing Lane 34015 US Hwy 6 Trail Project • 34016 US Hwy 6 Trail Project Undergrounding - $ 100,000 $ 125,000 $ 40,000 461,580 - - _ - 12,624 - 300,000 700,000 - 20,000 - - 3,000,000 - 875,000 - 360,485 40 - _ - 50,000 - - - 60,000 59,761 - _ 26,184 - - _ 99,723 25,278 25,278 - - 125,000 125,000 - 400,000 400,000 - 1,000,000 60,623 139,377 139,377 391 199,608 40,000 - 200,000 200,000 - - - 100,000 - - 12,624 - 162,847 87,153 87,153 - - 20,000 - - - 50,000 48,407 _ - 25,000 478,100 394,512 394,512 4,106 - - - - - 750,000 - - 30,000 100,000 Section I, Page C -3 IR MUNICIPAL SERVICES Capital Projects Fund #41 CIP Projects Inventory Original or Final Prev. Amend. Revised Proposed Account Actual Budget Budget Budget Number Description 2009 2010 2010 2011 CAPITAL IMPROVEMENT PROJECTS Utilities Waste Heat Recovery Project: 41001 System Study 41002 System Design 41003 Construction 41004 Main Street Piping Recreation Water Fund Projects 61004 Nottingham -Puder Ditch Restoration 61006 Metcalf Road Drainage - Phase 1 61007 Drainage Master Plan 61009 Nottingham Lake Spillway Replacement 94005 Water Rights Acquisition Strategic Planning Development Analysis and Review: 71011 Vail Resorts Annexation 71012 Buck Creek PUD Planning and Consulting: 79010 2010 General Planning and Consulting 79011 2011 General Planning and Consulting 79106 Comprehensive Transportation Plan 79107 Unified Land Use Code Revision Communications and Technology 81003 Records Management 81004 VOIP Telephone System 81005 a -gov Projects Other 93009 2009 Historic Preservation 93010 2010 Historic Preservation Developer Rebates and Capital Contributions Capital Contributions: 95001 Westin Riverfront Resort 95001 Westin Riverfront Resort - Interest Total Capital Improvement Projects 21,420 - - - 166,241 523,759 523,759 - 3,563,746 3,563,746 - - 270,000 270,000 - 169,679 - - _ 2,972 75,000 75,000 800,000 - 64,320 64,320 102,000 97,794 - - - 8,430 100,000 100,000 21,488 - - - 3,054 - - _ • - 25,000 25,000 - - - 25,000 140,517 - - - 136,241 74,370 74,370 39,720 - - - - 125,000 125,000 30,000 - - 25,000 3,277 - - - 25,000 25,000 - 295,659 73,378 73,378 - 2,550 2,550 - $ 2,508,254 $ 6,643,051 $ 6,791,067 $ 8,032,485 Section I, Page C -4 • 0 TOWN OF AVON CAPITAL PROJECTS FUND 5 -YEAR PLAN REVENUES Real Estate Transfer Tax: Real Estate Transfer Tax Interest Earnings Intergovernmental: Federal /State: DOLA Grant - Heat Recovery System DOW FIF Grant - Fishing Pier FTA Grant - Trans. Fac. Imp. Project CDOT Grant - US Hwy 6 to Post Blvd. Project GOCO Grant - Eagle River Bridge Local Government: ECO Cost Sharing (Transit Facilities Imp. Project) ERWSD Cost Sharing (Heat Recovery Project) Eagle County Trails Grant - Avon Rd. to Post Blvd. Eagle County Trails Grant - Eagle River Bridge Traer Creek Metro District Nottingham -Puder Ditch Cost Sharing Other Revenues: Fireplace Fees Finance Charges Developer Reimbursements Nonclassified Total Operating Revenues Other Sources: Bond Proceeds - 2010 COPs Transfer in from URA - Heat Recovery Project Transfer in from Community Enhancement - Fishing Pier Transfer in from Community Enhancement - Stage Transfer in from Community Enhancement - Undergrounding Transfer in from Water Fund Transfer in from Facilities Reserve Fund Total Other Sources Total Revenues and Sources of Funds • Current Proposed Actual Budget Budget Projected 2009 2010 2011 2012 2013 2014 2015 $ 1,761,980 $ 1,950,000 $ 1,665,800 $ 1,915,800 $ 2,128,000 $ 3,673,800 $ 4,070,800 69,273 80,104 75,000 88,059 74,466 51,741 55,777 22,793 1,327,208 - 108,000 - - - 3,750,000 3,750,000 20,000 - 335,000 - 40,000 470,000 235,360 - - - 332,400 - 11,700 - 300,000 - 100,000 300,000 28,110 - - - - - - - 1,500 1,500 1,500 1,500 1,500 1,500 511 - - - - - - 21,462 4,662 - - - - - - 2,155,851 3,799,212 5,492,300 7,160,359 2,203,966 3,727,041 4,128,077 - 3,310,000 270,000 - - 20,000 - 40,000 - 160,000 - - - 100,000 - - 278,875 239,320 902,000 250,000 350,000 - 100,000 - - - 548,875 3,709,320 1,002,000 - 250,000 510,000 - $ 2,704,726 $ 7,508,532 $ 6,494,300 $ 7,160,359 $ 2,453,966 $ 4,237,041 $ 4,128,077 Section 116 C -6 is r • • • TOWN OF AVON CAPITAL PROJECTS FUND 5 -YEAR PLAN EXPENDITURES General Government Debt Service: Bond Issuance Costs Capital Improvements: Facilities Land and Land Improvements Roads and Streets Utilities Recreation Water Fund Projects Communications and Technology Strategic Planning Other Developer Rebates and Capital Contributions Total Expenditures Other Uses: Operating Transfer Out - General Fund Operating Transfer Out - Debt Service Fund Total Other Uses Total Expenditures and Uses of Funds Net Source (Use) of Funds Fund Balance, Beginning of Year Fund Balance, End of Year 308,314 Current Proposed 327,090 336,903 347,010 357,420 Actual Budget Budget 248,481 Projected 248,581 249,831 2009 2010 2011 2012 2013 2014 2015 308,314 549,868 568,793 575,571 587,984 595,591 607,251 $ 49,901 $ - $ $ $ $ $ - 77,695 - 7,704,057 3,362,984 4,075,591 2,132,251 647,287 975,278 4,995,485 4,293,486 75,000 150,000 50,000 61,015 392,001 1,100,000 - 1,800,000 900,000 250,000 693,460 501,665 955,000 2,735,000 575,000 2,005,000 1,150,000 187,661 4,357,505 - - - - - 278,875 239,320 902,000 - 250,000 350,000 - 39,720 125,000 55,000 25,000 50,000 50,000 50,000 301,300 99,370 25,000 75,000 25,000 25,000 25,000 3,277 25,000 - - - - - 295,659 75,928 - - - - - 2,558,155 6,868,762 8,032,485 7,128,486 2,775,000 3,480,000 1,525,000 308,314 317,563 317,563 327,090 336,903 347,010 357,420 - 232,305 251,230 248,481 251,081 248,581 249,831 308,314 549,868 568,793 575,571 587,984 595,591 607,251 2,866,469 7,418,630 8,601,278 7,704,057 3,362,984 4,075,591 2,132,251 (161,743) 89,902 (2,106,978) (543,698) (909,018) 161,450 1,995,826 5,701,165 5,539,422 5,629,324 3,522,346 2,978,648 2,069,630 2,231,080 $ 5,539,422 $ 5,629,324 $ 3,522,346 $ 2,978,648 $ 2,069,630 $ 2,231,080 $ 4,226,906 Section I, Page C -7 CAPITAL IMPROVEMENT PROJECTS Facilities: Transit I PW Facilities Improvement Project: Preliminary Design Final Design to GMP Bus Fuel/Wash /Site Improvements Sitework/Foundation for Bus Storage Facility Public Works Improvements Avon Station Recreation Center Storage / Office Rec. Center CMU Block Deterioration Invest. Rec. Center Vapor Barrier Repair Rec. Center CMU Block Deterioration Mitigation Rec. Center Roof Repair Town Hall Control System Fuel Depot Replacement Recreation Center EPDM Replacement Land and Land Improvements: Forest Service Land Acquisition Nottingham Park Fishing Pier Nottingham Park Trail Maintenance and Signage Nottingham Park Capital Improvements (Cabin, Backstop, etc.) Whitewater Park Repairs - 2010 Roads and Streets: Streetscape: Lighting Study & Conversion Street Improvements: E. Beaver Creek Blvd Improvements E. Beaver Creek Blvd Overlay Annual Paving /Road Improvements Multi - Modal /Altemative Mobility: West Avon Trails & Access Improvements Metcalf Bicycle Climbing Lane / Overlay Phase 1 Pedestrian and Bike Trail - US Hwy 6 - Eagle River Bridge US Hwy 6 Trail Project - Avon Road to Post Blvd US Hwy 6 Trail Project - Undergrounding TOWN OF AVON CAPITAL PROJECTS INVENTORY 5 -YEAR PLAN (Nondiscretionary Projects) Estimated Total 2008 and Current Project Cost Proposed Project Prior Yr. Actual Budget To -Date Budget Projected Budget Actuals 2009 2010 2010 2011 2012 2013 2014 2015 $ 871,029 $ 409,449 $ 461,580 $ - $ 871,029 $ - $ $ $ $ 1,000,000 - - 300,000 300,000 700,000 6,058,000 - - 3,000,000 3,058,000 1,750,000 875,000 875,000 720,971 360,485 360,486 3,207,928 3,190,117 40 3,190,157 - - 660,000 634,130 59,761 693,891 27,000 - 26,184 26,184 125,000 99,722 25,278 125,000 125,000 - 125,000 125,000 400,000 400,000 400,000 125,000 125,000 125,000 - 60,000 - - 60,000 75,000 - - - 75,000 1,150,000 28,796 - 28,796 1,000,000 - 200,000 - 200,000 200,000 - 200,000 60,623 139,377 200,000 - 100,000 - - - 100,000 10,680 12,624 12,624 - 1,013,176 520,509 162,847 87,153 770,509 149,901 49,901 48,407 98,308 250,000 - - - - N/A - 478,100 394,512 N/A 92,295 31,275 - - 31,275 750,000 - - 900,000 965,000 100,000 Section C -8 - - 250,000 400,000 500,000 500,000 500,000 750,000 - - 900,000 30,000 935,000 100,000 - • ro • CAPITAL IMPROVEMENT PROJECTS Utilities Waste Heat Recovery System Project: Feasibility Study System Design Construction Main Street Piping Recreation Water Fund Projects Nottingham -Puder Ditch Restoration W. Beaver Creek Blvd. Drainage 1 -70 to Railroad Metcalf Road Drainage - Phase 1 Nottingham Rd. Drainage Improvements Benchmark Lake Spillway Replacement Water Rights Acquisition Communications and Technology Records Management VOIP Telephone System Strategic Planning Development Analysis and Review Vail Resorts Annexation Buck Creek PUD Amendment Planning and Consulting: Comprehensive Transportation Plan Unified Land Use Code Revision Other Historic Preservation Developer Rebates and Capital Contributions Capital Contributions: Westin Riverfront Resort Westin Riverfront Resort - Interest Total Capital Improvement Projects • • TOWN OF AVON CAPITAL PROJECTS INVENTORY 5 -YEAR PLAN (Nondiscretionary Projects) Estimated Total 2008 and Current Project Cost Proposed Project Prior Yr. Actual Budget To-Date Budget Projected Budget Actuals 2009 2010 2010 2011 2012 2013 2014 2015 90,000 68,659 21,420 - 90,079 690,000 - 166,241 523,759 690,000 3,563,746 36,178 - - 3,563,746 3,563,746 270,000 200,000 58,030 270,000 270,000 250,621 10,621 169,679 250,000 180,300 385,000 42,022 - 2,563,000 42,022 - 1,053,966 50,145 2,972 75,000 128,117 800,000 250,000 - - - - - 50,000 97,794 - 97,794 N/A Section I, Page C -9 8,430 100,000 108,430 350,000 250,000 50,000 39,720 - 39,720 - 125,000 - - 125,000 125,000 30,000 N/A 14,690 21,488 - 36,178 - N/A - 3,054 3,054 200,000 58,030 140,517 - 198,547 250,000 39,389 136,241 74,370 250,000 N/A - 3,277 25,000 N/A 2,563,000 2,209,948 279,674 73,378 2,563,000 251,876 233,341 15,985 2,550 251,876 - - - - $ 31,129,189 $ 7,591,022 $ 2,503,756 $ 6,641,747 $ 15,835,636 $ 7,805,485 $ 6,528,486 $ 825,000 $ 1,100,000 $ 500,000 Section I, Page C -9 TOWN OF AVON CAPITAL PROJECTS INVENTORY 5 -YEAR PLAN (Discretionary Projects) Estimated Total 2008 and Current Project Cost Proposed Project Prior Yr. Actual Budget To-Date Budget Projected Budget Actuals 2009 2010 2010 2011 2012 2013 2014 2015 CAPITAL IMPROVEMENT PROJECTS Facilities: Bus Stop Improvements 100,000 50,000 50,000 Fleet Maintenance Control System 100,000 100,000 - Land and Land Improvements: Parks: Harry A. Nottingham Park Improvements (Master Plan): Nottingham Park Stage 200,000 392 40,000 40,392 600,000 Nottingham Park - Lake St. to Lake Promenade 200,000 - - - - 200,000 Nottingham Park Zone C Improvements - playground & restrooms 1,800,000 1,800,000 - - Nottingham Park West Restrooms 250,000 - - 250,000 Nottingham Park Southwestern Pedestrian Connection 100,000 100,000 - Roads and Streets: Streetscape: 1 -70 Noise Reduction 9,711 9,711 - 9,711 50,000 50,000 - 1 -70 Noise Reduction Design 20,000 - 20,000 20,000 - - - - W. BIC Blvd. Streetscape Improvements (Lake St. /Avon Rd.) 825,000 - - 75,000 750,000 - E. Beaver Creek Blvd Streetscape - Avon Rd to BC Place 275,000 25,000 250,000 Metcalf Road - Retaining Wall Stabilization 100,000 - 100,000 - FS Wildridge Access & Drainage Improvements 25,000 25,000 - Multi - Modal /Alternative Mobility: Metcalf Bicycle Climbing Lane / Overlay Phase 2 450,000 - - - - 450,000 Recreational Trails Program: Recreation Trails Master Plan: 60,000 18,161 4,106 22,267 - - Nottingham Trail -Buck Creek Trail connector 50,000 - - - 50,000 Saddle Ridge Trail Restoration 40,000 40,000 Minor Trail Restoration 40,000 40,000 - Metcalf Recreational Trail and Trailhead 250,000 - 250,000 Beaver Creek Overlook Trail Improvements 250,000 250,000 - Buck Creek Trail Improvements 150,000 - 150,000 Water Fund Projects _ _ _ _ - Drainage Master Plan 166,320 64,320 64,320 102,000 - - - _ Communications and Technology Toastmaster, Granicus, e-gov Projects N/A - - 25,000 25,000 50,000 50,000 50,000 • Section W -10 • P, TOWN OF AVON CAPITAL PROJECTS INVENTORY 5 -YEAR PLAN (Discretionary Projects) Total 2008 and Current Project Cost Proposed Project Prior Yr. Actual Budget To -Date Budget Projected Budget Actuals 2009 2010 2010 2011 2012 2013 2014 2015 CAPITAL IMPROVEMENT PROJECTS Strategic Planning General Planning and Consulting Parking Study, Town Center Total Capital Improvement Projects N/A 25,000 N/A 25,000 25,000 25,000 25,000 25,000 50,000 - - - - - 50,000 - - - $ 5,511,031 $ 27,872 $ 4,498 $ 149,320 $ 156,690 $ 227,000 $ 600,000 $ 1,950,000 $ 2,380,000 $ 1,025,000 Section I, Page C -11 -9-11 P • Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager Initi is Legal: Eric Heil, Town Attorney From: Scott Wright, Asst. Town Manager — Finance Date: November 15, 2010 Re: 2011 Capital Project Fund Budget Adoption and Acceptance of Long -range Capital Program Ro , 2-3 , 2-c�> ` Summary: • The Town's final revised Capital Projects Fund budget for 2010 and the proposed 2011 Capital Projects Fund budget are 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 12'h. A public hearing was held on November 9`". Recommendation: Staff recommends that Council adopt the resolutions discussed above as presented, and accept the long -range capital program as submitted. Town Manager Comments: Attachments: • A —Resolution 10 -23 B — Resolution 10 -25 Page 1 C —Capital Projects Fund Budget D — Long -range Capital Program (5 -year Plan) • Page 2 lw�, • • • TOWN OF AVON RESOLUTION NO. 10 -23 • SERIES OF 2010 A RESOLUTION TO AMEND THE 2010 TOWN OF AVON CAPITAL PROJECTS FUND BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES AND AMENDING THE 2010 CAPITAL PROJECTS FUND BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2010 AND ENDING ON THE LAST DAY OF DECEMBER, 2010 WHEREAS, the Town Council of the Town of Avon has adopted the 2010 Capital Projects Fund budget; and WHEREAS, the Town Council has reviewed the revised estimated revenues and expenditures for 2010; and WHEREAS, the Town Council finds it necessary to amend the 2010 Capital Projects Fund budget to more accurately reflect the revenues and expenditures for 2010; and • WHEREAS, upon due and proper notice, published or posted in accordance with the law, the proposed budget amendment to the 2010 budget was open for inspection by the public at a designated place, a public hearing was held on November 23, 2010 and interested taxpayers were given the opportunity to file or register any objections to the proposed budget amendment; 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 2010: • Town of Avon Resolution No. 10 -23 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 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 23rd day of November, 2010. TOWN OF AVON, COLORADO Ronald C. Wolfe, Mayor ATTEST: Patty McKenny Town Clerk • Town of Avon • Resolution No. 10 -23 Page 2 of 2 Original or Current Previously Proposed Amended Amended Capital Proiects Fund 2010 Budizet 2010 Budget • Beginning Fund Balance $ 5,588,319 $ 5,539,422 Revenues and Other Sources 4,500,330 7,508,532 Expenditures and Other Uses 6,960,614 7,418,630 Ending Fund Balance 3,128,035 5,629,324 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 23rd day of November, 2010. TOWN OF AVON, COLORADO Ronald C. Wolfe, Mayor ATTEST: Patty McKenny Town Clerk • Town of Avon • Resolution No. 10 -23 Page 2 of 2 • TOWN OF AVON RESOLUTION NO. 10 -25 SERIES OF 2010 A RESOLUTION TO ACCEPT THE PROPOSED TOWN OF AVON LONG RANGE CAPITAL PROGRAM AND SIMULTANEOUSLY ADOPT THE YEAR 2011 CAPITAL PROJECTS FUND BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR THE CAPITAL PROJECTS FUND AND ADOPTING A BUDGET FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2011 AND ENDING ON THE LAST DAY OF DECEMBER, 2011 WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager to prepare and submit a long -range capital program to said governing body for its consideration; and WHEREAS, the Town Council of the Town of Avon has also appointed the Town Manager to prepare and submit a proposed Capital Projects Fund budget to said governing body for its consideration; and • WHEREAS, upon due and proper notice, published and posted in accordance with the law, said proposed budget was open for inspection by the public at a designated place. A public hearing was held on November 9, 2010, and interested taxpayers were given the opportunity to file or register any comment to said proposed budget; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the Capital Projects Fund 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 the long -range capital program as submitted to the Town Council is hereby accepted as an official Town document and planning tool, and that the information contained therein may be revised or extended each year with regard to capital improvements. Section 2. That estimated revenues and expenditures for the Capital Projects Fund are as follows for 2011: • Town of Avon Resolution No. 2010 -25 Page 1 of 2 2011 Proposed Bud et Capital Proiects Fund Beginning Fund Balance $ 3,522,346 Revenues and Other Sources 6,494,300 Expenditures and Other Uses 8,601,278 Ending Fund Balance $ 3,522,346 Section 3. That the budget, as submitted, 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 4. That the Capital Projects Fund budget hereby approved and adopted shall be signed by the Mayor and made part of the public record of the Town. ADOPTED this 23rd day of November, 2010. TOWN OF AVON, COLORADO Ronald C. Wolfe, Mayor ATTEST: Patty McKenny, Town Clerk • • Town of Avon • Resolution No. 2010 -25 Page 2 of 2