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TC Res. No. 2014-30 Accept the Proposed Long Range Capital Program and Adopt the 2015 Capital Projects Fund BudgetTOWN OF AVON RESOLUTION NO. 14 -30 SERIES OF 2014 A RESOLUTION TO ACCEPT THE PROPOSED TOWN OF AVON LONG RANGE CAPITAL PROGRAM AND SIMULTANEOUSLY ADOPT THE YEAR 2015 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, 2015 AND ENDING ON THE LAST DAY OF DECEMBER, 2015 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 11, 2014, 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 2015: 2015 Proposed Budget Capital Projects Fund Beginning Fund Balance $ 6,547,338 Revenues and Other Sources 3,979,053 Expenditures and Other Uses 7,554,766 Ending Fund Balance 2,971,625 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 11" day of November, 2014. TOWN OF AVON, COLORADQ r' Rich Carroll, Mayor / /:rWY2fy1I It V1.71-5 M�M.