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Home My WebLink About1988-07-26 Support Documentation Town Council Work Session~" VAIL TOWN COUNCIL WORK SESSION TUESDAY, JULY 26, 1988 12:00 p.m. Kennedy's Restaurant AGENDA Joint Meeting with County Commissioners to Discuss Softball Issues 2:00 p.m. Council Chambers AGENDA 1. Discussion of Marketing Committee Proposal 2. Discussion of Art in Public Places 3. Planning and Environmental Commission Report 4. Information Update 5. Other VAIL TOWN COUNCIL WORK SESSION TUESDAY, JULY 26, 1988 12:00 p.m. Kenned.v's Restaurant EXPANDED AGENDA 12:00 Joint Meeting with County Commissioners to Discuss Softball Issues Background Rationale: The main purpose of the meeting is to try and encourage the Commissioners to buy the Berry Creek parcel (rather than. west of Eagle) and develop a softball field complex. 2:00 p.m. Council Chambers EXPANDED AGENDA 2:00 1. Discussion of Marketing Committee Proposal Action Requested of Council: Discuss marketing funding with the Marketing Committee. Background Rationale: The Marketing Committee has some preliminary ideas for marketing funding to discuss with the Council. 2:30 2. Discussion of Art in Public Places Kristan Pritz Background Rationale: Update on the progress of the Art in Public Places Program. 3:00 3. Planning and Environmental Commission Report Peter Patten 3:10 4. Information Update 3:15 5. Other Planning and Environmenal Commission July 25, 1988 1:00 PM Work session with representatives from the Town Council regarding environmental issues 2:00 PM Site Visits 3:00 PM Public Hearing 1. Approval of minutes of July 11. To Be Tabled 2 . A request for an exterior alteration and for side and stream setback variances in order to expand the existing dining room and add an exterior deck at the Up the Creek Restaurant located in the Creekside Building. Applicant: Up the Creek Restaurant 3. A request for a front setback variance and common area variance in order to add lobby space to the Willows Condominiums. Applicant: Willows Condominium Association 4. Work session on Lionsridge Filing 3, Block 2, Special Development District/Major Subdivision 5. Work session on Gore Creek Campground expansion TOWN OF VAIL MEMORANDUM TO: Ron Phillips and Council Members FROM: Steve Thompson DATE: July 22, 1988 RE: Draft - 1987 Financial Statements Enclosed is the final draft of the 1987 audited financial statements. .Jerry McMahan, from McMahan, Armstrong & Associates, who was in charge of our 1987 audit, will be at the Council meeting on Tuesday, August 2nd, to present and discuss the 1987 financial statements, along with staff. If you have any questions prior to the meeting, please give me a call. Town Council - FYI The funeral for Leon Lowenthal will be held in Ohio this Sunday. There will be a memorial service at the Interfaith Chapel Tuesday, July 26, at 11:00 a.m. Gail would like donations to Bravo! Colorado Master of Music Series in lieu of flowers. A lowo o uai 75 south frontage road vail, Colorado 81657 (303)476-7000 office of the town manager Juiy 21, 1988 Ms. Michelle J. Cahill Executive Director Colorado Ski Museum P. 0. Box 1976 Vail, Colorado 81658 Dear Michelle: VAIL 1989 This letter will attempt to address the points of your May 1, 1987 letter from the Town of Vail's perspective and also outline my understanding of our discussion last Monday. We are all addressing the issue of whether or not the Ski Museum can be moved by this coming winter and be done in a way that is satisfactory an beneficial to the Ski Museum and your Board of Directors. As you know, the Town of Vail has a budget of up to $75,000 fo.r finishing the interior of the new space in the Vail Village Inn. Some costs that will come out of that $75,000 up front will. be any reconstruction of the entryway, the stairway from the entryway to the lower level, and the ventilation and heating system. The 18 points of your letter will be listed below with the Town's response to each one of them without restating the question: 1. The new space in the Vail Village Inn contains approximately 4,000 square feet of space and the Town of Vail will finish whatever portion of that space the Museum Board of Directors desire to utilize initially. The additional unfinished space will be suitable for storage and for possible future expansion if the Museum Board so desires. The Town of Vail will not be responsible for future expansion costs. 2. Carpeting for the finished space will be provided as agreed upon by the two entities. 3. The drop ceiling with acoustical tiles is provided now in the total new space. .~ Ms. Michelle Cahill July 21, 1988 Page 2 4. The walls are now drywalled, taped and fire-rated and will be painted as agreed between the two entities. 5. Lighting for the entire space will be provided as agreed and designed by the two entities. 6. Parking spaces for staff and visitors will be provided in Phase U of the Village Inn development. The Museum Board should count on providing parking for the staff as has been done in the past until the Vail Village Inn Phase U is completed. Visitors will be sharing parking space with the other Vail Village Inn tenants for now. 7. A full understanding of the Museum's position relative to the management of the building and the Condominium Association still is to be worked out. The Town of Vail is negotiating with the Condominium Association for the possible lowering of condominium fees, and I anticipate the Town will take responsibility for payment of some portion of those fees in an equitable manner. The feeling of our group last Monday was that the Town should retain ownership of the space and membership in the Condominium Association. 8. Outdoor space will be made available to the Museum for outdoor exhibits probably on the current building site. 9. Adequate signage for the Museum will be allowed subject to Museum and Design Review Board approval. 10. The Condominium Association fees were previously discussed in Item 7. 11. The Colorado Ski Museum .will retain responsibility .for any internal use costs such as utilities as is now the case. 12. Public restrooms and an elevator are provided for the new Museum space. 13. Interior design criteria and code compliance shall be subject to review and approval by the Town of Uail. 14. Any and all zoning variances needed for the Museum to occupy the space shall be the responsibility of the Town of Vail. 15. The liability and fire insurance cover the structure under the Condominium Association insurance coverage. Steve Barwick, the Town's Risk Manager, is checking into the Town insurance and how it will relate to the contents of the building as owned by the Colorado Ski Museum. We will be giving you more information regarding this item. "~ Ms. Michelle Cahill July 21, 1988 Page 3 16. Water and plumbing are provided in the public restrooms on the same floor as the Museum. Gordon Pierce is checking into whether plumbing is roughed in which could be used for a wet bar to serve the Museum's needs. 17. Water, heating and cooling are covered in the Condominium Association fees. 18. The Town of Vail will make a commitment to house the Colorado Ski Museum in the proposed space in compliance with the 1975 warranty deed requirements or some similar arrangement as long as the Colorado Ski Museum Board agrees to remain in Vail for the same time period. We look forward to working out the few points yet to be covered between the Ski Museum and the Town of Vail. I think it would be helpful when we get all the points resolved if we develop an agreement or memorandum of understanding which can be adopted by the Ski Museum Board of Directors and the Town Council. In the meantime, good luck with the design work you are undertaking. Sincerely, ~~ r / ~ Rondall V. Phillips Town Manager RVP/bsc cc: Vail Town Council Larry Eskwith Peter Patten RAC°0 J U L 2 5 !~~ ,. ,; ,, H-.... ,., 1.. ~.._.... .. , , ,. ,. _,, ,;.. ., .;_ ;; li"1~'' ',,,~' ~k. ;1.. li .. 11....8..._11 ...... .tl.. H:::' .u ~....~ ._. ~~ ,.: a ,, _. :::: , ~ ..., r. ,', ... . I, ~ ;,; ' ._, I~b~.t~' I'iP''.. 1..~' ~. ~. ~.+ ... ,. ~ ,t'tl._I:i,!;; ~ ....11 !. A+!1,).:ir:•..• Sr.•^L::a _•P!~:1.~.~: ::i i+',i .1.1'i! I~'I I !:i i.l'1f:'' ::11:..+. ~'r'7:., ..1.+`.+ ! i. 1. I;.':I t": [.+ ~i 4.•.IYY. ~ r'lI,I'1•I - I. i'',.I'".t".i'I I'-1 !..l{" '.~, li1 i.,,i.r L1 + i:. I. ; .. liii 1,. ai b. 1 l.. l ~I, ,+ I II•.a Flo-:: t I I..l.I' ~. li"!:~ ~ L•I1+::~ , - .. .. I I• u ~ ~' t:: i .!'+ :,, ,., I:: ~ i.. l'! I+ I.: ~,. - :'! !I i, ;:I I i', a i' n II t:: ,. .. ! ! i ::I , f•..+.! I'I•I`.:1. + {1.1 k': 1 •!.r I`!k'i :a I i . r Ii !. .'~ L. I,. ., ~ t Ir.: 1 .i ll,l'j l I ~r I!'''r .., i I I f'i ! 1, 1 'fll t G:: I '..I „ .. I I,..I ,I, ~,,. ... . ....: ~ ...~ ....: .. .- ,lr.. :c.i .!. ~ Ril:a, ;{ ~ 1 ..: {. i1r 'I_ I,.,},: ,''I.~...:,,.yl''.r ~ N.:I.:I I L :,. I t;: I!::::• 1.Yi ~"'.<+':::I +i::: ,..,.. ,..1 , I_: I'_IIL . ! ! I. I II";, I _. , +.•1 `t ' I J `''• +... I i.~,r,l'I'I r°I'f ~ ~'t :;L .I. 1 ~ ,1. I. 1..1'(•1':.I 1,,1 1. T, r'I ;1. ~. '~ •..: ~::• 1-^,.I;, 1 ...I I,.., M,. 11 I, ~ I I I 1,;1.7. 11~ ~ 1 i. !•... .... ;:.•~~ • .. i:'1f11+: I„!'~' H. Y'1+^'' 7.1'' 'I': :!. 1+1r~: I"•1;y i ..i:~. (11,..1,, I,.., ,::: I . i BEN NIGHTHORSE CAMPBELL ~ 1~U0 PLEASE REPLY TO: 3D DISTRICT, COLORADO ~~,~ D JUG 2' WASHINGTON OFFICE: ^ 1724 LONGWORTN BUILDING ~j~ WASHINGTON, DC 20615 COMMITTEES: UI ~,~gre~g of t~je ~r~iteb ~tate~ (2071 TT5-4781 AGRICULTURE V/ DISTRICT OFFICES: INTERIOR AND INSULAR AFFAIRS ^ 720 N. MAIN ST. SMALL BUSINESS gouge of ~te~re~entatibe~ PUEB OITCO 801003 }~ 1719) 543-9621 ~~~~j~i-gten~ ~~ 20515 ^ 836 f. SECOND AVE. O SUITE 105 July 1 9, 1 9 0 8 DURANGO.CO 81301 (3031 74 7-9 300 ^ 116 N. 6TH STREET SUITE 520 Ronda 11 V . Phil 1 ips GRAND JUNCTION, CO 81601 Town Manager 1303, T4T-2aoo Town of Vail 75 South Frontage Road Vail, Colorado 81657 Dear Rondall: Recently, I hosted a small business/community economic development seminar on Adams State College's campus in Alamosa, Colorado. Do to the overwhelming success of of this seminar, I will be hosting a second seminar in Steamboat Springs on August 26, 1988. These free seminars represent part of my continuing emphasis on improving the economy and job outlook in the Third Congressional District. They will provide a panel forum for federal, state and local government agencies and private organizations to describe the programs and services available to help individuals, proposed or existing small businesses, and communities in their economic development efforts. Panelists will include representatives from the Small Business Administration, the Economic Development Administration, the Rocky Mountain Institute, Community Economic Development of Colorado, the Colorado Office of Business Development and the Tourism Board. This forum will present, in an integrated one-day session, a range of sources which can provide information for communities to create economic develoNi«eiit plans caiiured i:o their ur>.ique needs and resources. If you, or someone you know, would like to attend, the seminar will be held at the Steamboat Sheraton Hotel Conference Center from 8 a.m. to 1 p.m. No advance registration is necessary and additional information can be obtained from my Pueblo district office at (719) 543-9621. Sincerely, t Ben Nighth se Campbell Member of Congress BNC:al ~ow~Tuai 75 south frontage road vail, Colorado 81657 (303) 476-7000 TO: Ron Phillips FROM: Finance Staff i DATE: July 26, 1988 RE: 1988 Second Quarter MEMORANDUM Financial Report Please find attached the 1988 Second Quarter Financial Report. The operating budget of the Town remains in sound condition. The General Fund appears to be doing slightly better than originally anticipated due to improvements in both revenues and expenditures. Despite recent budget shortfalls in sales tax receipts, the overall trend in General Fund revenues leads us to project a $250,000 revenue surplus for 1988. When combined with slight expenditure savings, the net result is a projected decrease in the General Fund balance of only $221,000 instead of the original $559,000. The Capital Projects fund should end the year with a balance of approximately $354,000. This figure is somewhat lower than the earlier estimate of $441,000 due to the addition of funding for the Visitor Center and additional signage. The Town remains in excellent financial condition. We are completing more capital projects than originally planned and have been able to reach our goal of eliminating operating leases one year earlier than anticipated. SHB/ds TOWN OF VAIL 1988 SECOND QUARTER FINANCIAL REPORT July 26, 1988 sALgsrAg NONTB 1980 1981 1982 ------------------------------------------ December 549,000 590,242 820,762 January 626,448 514,102 675,186 February 624,040 594,292 681,792 March 683,000 697,464 853,648 April 246,820 308,436 355,300 day 89,180 135,774 147,378 June (est) 176,044 245,204 247,326 ------------------------------------------ SOBTOTAL 2,994,532 3,085,514 3,187,392 ------------------------------------------ July 281,846 339,418 349,116 August 268,052 332,724 348,756 September 176,090 285,918 268,598 October 137,376 225,024 223,830 November .140,630 210,254 245,894 December ------------------------------------------ TOTAL. 3,998,526 4,478,852 5,223,586 1983 731,506 696,752 751,856 977,828 319,546 156,588 257,744 3,897,820 407, 414 38!,338 324,670 195,614 281,704 5, 494, 620 Revised: 7/25/88 TONN OF VAIL SALBS TAI BSTINATION NORgSRFBT 1984 853,100 742, 262 824,650 1,084,814 481,204 166,200 282, 696 4,414,926 406,462 402,792 384,864 206,248 310,588 6,125,880 1985 1986 sos,75a so5,s55 881,304 890,585 918,154 946,552 1,187,520 1,316,652 531,668 430,871 162,912 244,981 280,828 361,627 4,869,144 5,091,235 441,815 419,507 386,985 512,513 340,102 374,060 209,282 237,504 .229,083 376,657 6,482,411 1,071,416 X Change X Change 1988 1988 from from 1987 ; BODGBT ACTOAL Variance 1987 Budget 1,167,280 1,225,000 1,245,612 20,612 6.7X 1.7X 1,063,196 1,075,000 1,115,130 40,130 4.9X 3.7X 1,135,786 1,135,000 1,230,520 95,520 8.3X 8.4X 1,378,782 ; 1,350,000 1,586,092 236,092 15.0X 11.5X 425,961 590,000 562,437 (27,563) 32.OX ( 4.1X) 245,518 240,000 174,418 (65,582) (29.0X) (27.3X) 331,581 ; 363,000 330,000 (33,000) ( .5X) ( 9.1X) 5,748,104 ; 5,978,000 6,244,209 266,209 8.6X 4.5X 479,201 ; 490,000 536,904 ; 559,000 442,402 960,000 213,951 ; 285,000 386,270 ; 398,000 1,225,000 7,888,832 9,395,000 _6,244,209 266,209 RETT Revised: 7/ 1/88 TOWN OF VAIL REAL ESTATE TRANSFER TAX History and Budget 1988 1980 1981 1982 1983 1984 1985 1986 1987 1988 1988 BUDGET MONTH ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ; BUDGET ACTUAL VARIANCE ------------- January ---------- 63,999 ------------ 98,089 ---------- 106,981 ----------- 119,972 ----------- 78,053 ----------- 80,733 ----------- 101,374 ----------- 131,916 -- ; ------------ 88,320 ---------- 96,119 ---------- 7,799 February 40,595 69,018 105,024 132,220 86,289 170,052 64,906 44,040 ; 75,687 109,873 34,186 March 69,886 126,935 109,533 137,820 62,693 63,831 92,557 38,791 ; 79,300 68,104 011,196) April 76,855 94,653 65,900 103,526 173,321' 90,396 182,743 95,554 95,731 179,671 83,940 May 42,738 84,324 54,663 90,599 96,006 228,673 98,651 120,984 ; 82,287 99,917 17,630 June ------------- 62,239 ---------- 125,433 ------------ 54,488 ---------- 140,638 ----------- 76,467 ----------- 49,513 ----------- 79,915 ----------- 73,509 ----------- ; -- .71,243 ------------ 101,364 ---------- 30,121 ---- - Subtotal - --------- 356,312 -- - 598,452 ------------ 496,589 ---------- 724,775 ----------- 572,829 ----------- 683,198 ----------- 620,146 ----------- 504,794 ----------- -- 492,569 ------------ 655,048 - - --- 162,479 -- - July ------- 49,367 186,110 104,262 68,539 157,598 88,528 .70,441 47,949 ; 81,307 ---------- ---------- ~' August 79,859 115,499 71,282 97,806 58,937 32,860 100,182 61,137 ; 70,813 September 59,800 113,992 49,332 96,746 64,671 48,516 108,167 78,819 ; 69,052 October 108,510 154,000 42,498 122,546 88,732 109,633 93,860 124,291 ; 97,733 November 102,623 107,768 81,698 91,385 105,109 74,909 89,047 114,839 ; 87,177 December 142,662 133,867 110,911 56,533 81,890 333,139 106,695 95,495 101,348 ------------- TOTAL ---------- 899,133 ------------ 1,409,688 ---------- 956,572 ----------- 1,258,330 ----------- 1,129,766 ----------- 1,370,783 ----------- 1,188,538 ----------- 1,027,324 -- ; ------------ 1,000,000 ---------- 655,048 ---------- 162,479 Fd BFNDBAL2 TOWN C1F VAIL STATEMENT C1F CHANGES IN FUND BALANCE 1/1/87 - 12/31/88 Revised: 7/26/1988 REAL ESTATE SPEC. PARKING HEAVY GENERAL CAPITAL TRANSFER ASSESSMENT EQUIPMENT -- FUND PRC)JECTS FI1ND TAX FUND FUND FUND ; TOTAL ----------------------- -------- Fund Balance 1/1/87 -------------- 1,647,922 --------------- 469,992 ------------- 2,440,576 ---------------- 167,811 ------------ 50,285 -- ; -------------- 4,776,586 -- 1987 Revenue 10,022,458 4,533,774 1,247,608 94,159 927.,207 16,825,206 ; 1987 Expenditures --------------------------------- 9,567,640 -------------- 4,449,071 --------------- 1,636,410 ------------- 0 ---------------- 926,382 ----- --- 16,579,503 ; Gain/(Loss) 454,818 84,703 ( 388,802) 94,159 -- -- 825 --- -------------- 245,703 - W --------------------------------- Fund Balance 12/31/87 --------------------------------- --------------------------------- -------------- 2,102,740 -------------- -------------- --------------- 554,695 --------------- --------------- ------------- 2,051,774 ------------- ------------- ---------------- 261,970 ---------------- ---------------- ------------ 51,110 ------------ ------------ --- ; --- --- ------------- 5,022,289 ------------- ------------- -- -- -- 1988 Revenue Estimate 10,919,620 5,726,662 1,440,000 62,000 1,474,400 ; 19,622,682, 1988 Expenditure Estimate --------------------------------- 11,140,976 -------------- 5,927,740 --------------- 2,012,764 ------------- 9,000 ------------- - 1,222,325 -------- 20,312,805 - - ; - Gain/(Loss) ( 221,356) ( 201,078) ( 572,764) -- 53,000 --- - 252,075 --- ------- - --- ( 690,123) - --------------------------------- Projected Fund Balance 12/31/88 --------------------------------- --------------------------------- -------------- 1,881,384 -------------- -------------- --------------- 353,617 --------------- --------------- ------------- 1,479,010 ------------- ------------- ---------------- 314,970 ---------------- ---------------- ------------ 303,185 ------------ ------------ -- --- -- ----4,332,166 ------------- -------------- -- -- 88QTRRPT TOWN OF VAIL 1988 Financial Report Estimates to Year End including Supplemental Appropriation 1988 ESTIMATE TO VARIANCE GENERAL FUND REVENtIE Bt1DGET YEAR END OVER/(UNDER) ------------------ Taxes ------------- ------------- ------------- Property & Ownership Taxes 1,625,000 1,657,800 32,800 Retail Sales Tax 4,843,000 5,018,(100 .175,000 Ski Lift Tax 570, 000 600, OCJCJ 30, 000 Franchise Fees 340,000 346,000 6,000 Penalty & Interest/Prop Tax --------------------------------- 15,000 ------------- 12,0(10 ------------- (3,000) -------- 7,393,000 7,633,800 ----- 240,800 Construction Fees 139,600 105,000 (34,600) Licenses & Permits 97,600 100,000 2,400 4 Charges for Services 228,020 215,000 (13,020] Transportation Centers - 1,039,410 1,(160,000 20,590 Dobson Ice Arena 427,100 408,000 (19,100) Recreation Programs 258,820 258,820 0 Intergovernmental Revenue 651,668 662,000 10,332 Fines & Forfeitures 121,300 144,000 22,700 Other 311,300 333,000 21,700 ------ TOTAL GF REVENUE ------------- 10,667,818 ------------- 10,919,620 ------------- 251,802 GENERAL FUND EXPENDITURES Town Officials 537,766 531,(100 (6,766) Administrative Services 814,236 822,000 7,764 Community Development 537,131 537,131 0 Police 1,784,267 1,754,(100 (30,267) Fire 825,461 827,000 1,539 Public Works 1,454,890 1,454,890 0 Transit 1,272,378 1,272,378 0 Transportation Centers 810,903 810,903 0 Dobson Ice Arena 617,585- 601,000 (16,585) Recreation Programs 613,243 613,243 Q Library 439,718 439,718 0 Contributions & Events 507,938 483,938 (24,000) Employee Benefits 78,000 60,(100 (18,OOOy Insurance 377,900 377,900 0 Contingency 91,875 91,875 0 Transfer to Capital Projects Fund 164,000 164,(100 0 Transfer to Heavy Equipment Fund 300,000 300,0(10 0 -------- - ----- TOTAL GF EXPENDITtRES ------------- 11,227,291 -------------- 11,140,976 ----------- (86,315) SURPLtIS/(SHORTFALL) (559,473) (221,356). 338,117 4 1988 ESTIMATE TO VARIANCE CAPITAL PROJECTS FUND REVENUE BtIDGET YEAR END OVER/(UNDER) Retail Sales Tax 4 587,000 4 712,000 125,000 County Sales Tax 137,000 140,000 3,000 Ski Lift Tax 570,000 6UC-,U00 30,000 Street Use Tax 58,000 0 .(58,000) Recreation Amenities Fees 20,OC-0 23,000 3,000 Earnings on Investments 65,0C-0 80,000 15,000 Other Income ~ 107,662 7,662 (100,000) Transfer from General Fund 0 164, C-C-C! 164, 000 -------- TOTAL REVENtTE ------------ 5,544,662 ------u------ 5,7.6,662 ------------- 182,000 REVISED 1988 ESTIMATE TO VARIANCE CAPITAL PROJECTS FtTND EXP. ---------------------------------- ---------------------------------- BtTDGET ------------ ------------ YEAR END ------------- ------------- OVER/(UNDER) ------------- ------------- Bus Grant Lobbying Expense 40,000 45,000 5,000 Street Maintenance & Improvments 1,021,760 1,021,760 0 Street Light Improvement 30,C-00 30,000 0 Misc. Bldg. Maintenance 100,000 100,000 0 Recreational Paths Maintenance 70,000 7C-,000 0 Fire Station Bay Improvements 20,000 20,000 0 Dobson Arena Safety Improvements 8,000 8,C-C-O 0 Parking Structures Projects 105,000 105,C-C-O 0 Bus & Facility Grant Match 280,000 300,000 20,000 Communications Equipment 15,000 15,000 0 Bus Interior Refurbishment 26,000 26,000 0 Helipad 25,000 0 (25,000) Dobson Arena Equipment 57,500 57,500 0 :Village Improv. District Design 25,000 25,000 0 Dispatch Move 12,000 12,C100 0 Visitor Center Remodel 0 5C-,U00 50,000 Pay cash for Muni. Bldg. Remodel 152,000 157,000 5,000 Pay cash for Communications Equip 96,000 96,000 0 Forest Road Bridge roll-forward 5,000 5,000 0 Black Gore Bridge roll-forward 5,000 5,000 0 I-70 Interchange roll-forward 160,600 7C-,C-OU (90,600) Signage Project roll-forward 198,700 198,700 0 Communications Equip roll-forward 20,000 20,000 0 Transfer to Debt Service (Bonds) 475,000 475,000 0 Transfer to Computer Project 240, C-C-O 24C-, 000 0 Transfer to Debt Service ----------------------------------- 2,775,780 ----------- 2,775,78C1 ------------- 0 ------------- ----------------------------------- TOTAL EXPENDITURES ----------------------------------- ----------------------------------- ----------- 5,963,340 ----------- ----------- ------------- 5,927,740 ------------- ------------- ------------- (35,600) ------------- ------------- SURPLtTS/(SHORTFALL) (418,678) (201,078) 217,600 5 1988 ESTIMATE TU VARIANCE LOTTERY FUND BUDGET YEAR END OVER/(UNDER) REVENUE ------------ 7,000--------7,000------------~- EXPENDITURES 7,000 7,000 0 SURPLUS/(SHORTFALL) 0 0 0 REVISED 1988 ESTIMATE TO VARIANCE REAL ESTATE TRANS TAX FUND BUDGET YEAR END OVER/(UNDER) REVENUE RETT Taxes 1,002,000 1,250,000 248,000 Golf Course Lease/VMRD 70,000 7C1,OC10 0 Earnings on Investments 145,000 12C1,U00 (25,000) ------------------------------- TOTAL RETT REVENUE ---------------- 1,217,000 -------------- 1,440,000 ----------- 223,000 EXPENDITURES Purchase of Open Space 395,932 395,932 0 Transfer to Debt Service Fund 788,662 788,662 0 Projects 813,170 828,170 15,000 ---- TOTAL RETT EXPENDITURES ------------- 1,997,764 -------------- 2,012,764 ----------- 15,000 SURPLUS/(SHORTFALL) (780,764) (572,764) 208,000 1988 ESTIMATE TO VARIANCE HEAVY EQUIPMENT FUND BUDGET YEAR END OVER/(UNDER) REVENUE 1 174,400 1,474,400 300,000 EXPENDITURES 1,222,325 1,222,325 0 SLIRPLtIS/(SHORTFALL) (47,925) 252,075 300,000 6 MNTHRPT Revised: 7/26/88 TOWN OF VAIL FISCAL YEAR-TO-DATE REVENUE SiIMMARY As of June 30, 1988 (Operating Funds Only) 1987 1988 1987 JU N YTD % 1988 JtIN YTD % OVER Ft1ND ------------------- JL1NE YTD OF ------ TOTAL JCINE YTD OF BUDGET (CINDER ) GENERAL FtIND -------------- --------- ---------- ----------- -------- Sales Tax (June est.) 3,368,102 73.1% 3,674,717 76.4% 3.4% Property Taxes 1,C188,695 72.0% 1,131,529 72.2% .2% Ski Lift Tax 362,184 72.4% 469,423 82.4% 10.0% Trans. Centers 654,652 67.1% 750,712 72.2% 5.1% Dobson Arena 139,770 40.1% 149,245 34.9% ( 5.1%) Recreation 102,501 39.7% 115,206 44.5% 4.8% Other ------------------- 787,965 ------ 43.4% 842,998 42.6% { .8%) GENERAL FUND TOTAL -------------- 6,503,869 --------- 64.9% ---------- 7,133,830 ----------- 67.0% -------- 2.1% CAPITAL PROJECTS FtIND Sales Tax (June est.) 2,380,002. 73.1% 2,569,492 76.4% 3.4% Ski Lift Tax 362,184 72.4% 469,423 82.4% 9.9% Street tlse Tax 81,917 56.0% 0 .0% ( 56.0%) Other 135,063 50.2% 110,676 33.6% ( 16.6%) Transfer from G. F. -------------- 0 0 ----------- CAPITAL PROJECTS TOTAL ------------- 2,959,166 --------- 66.1% ------------- 3,149,591 --------- 70.2% -------- 4.1% LOTTERY TOTAL 0 .0% 0 .0% .0% GRAND TOTAL 9,463,035 65.3% 10,283,421 67.9% 2.7% 7 MNTHRPT Revised: 7/26/88 TOWN OF VAIL FISCAL YEAR-TO-DATE EXPENDITtTRE StTMMARY As of June 30, 1988 (Operating Funds Only) 1987 1988 1987 Jt1N YTD % 1988 JtIN YTD % OVER FUND JtINE YTD OF TOTAL JtINE YTD -- OF BtIDGET ----------- (tINDER ) -------- ------------------------- GENERAL FtiND ----------- ----------- --------- Town Officials 217,809 46.6% 286,928 28.6% ( 18.0%) Administrative Serv. 341,437 46.2% 401,605 49.3% 3.1% Community Development Zt17,416 47.1% 217,658 40.5% ( 6.6%) Police 754,210 48.1% 826,751 46.3% ( 1.8%) Fire 351,964 48.8% 379,394 46.0% ( 2.8%) Public Works 613,604 44.1% 698,585 48.0% 3.9% Transit 469,552 41.7% 568,579 44.7% 3.0% Transportation Centers 350,920 48.2% 344,2C-0 42.4% ( 5.7%) Dobson Ice Arena 235,714- 40.2% 256,746 41.6% 1.3% Recreation Programs 234,836 40.0% 229,554 37.4% ( 2.6%) Library 210,230 50.2% X)2,850 46.1% ( 4.0%) Contrib. & Events 276,516 64.5% 313,691 61.8% ( 2.8%) Employee Benefits 16,163 58.7% 32,220 41.3% ( 17.4%) Insurance 116,883 35.0% 107,211 28.4% ( 6.7%) Contingency 0 .0% 0 .0% ------- .0% -------- ------------------------- GENERAL FUND TOTAL ----------- 4,397,254 ----------- 46.0% ----------- 4,865,972 ---- 43.3% ( 2.6%) CAPITAL PROJECTS Capital Projects 279,005 22.8% 466,017 33.1% 10.3% Transfers 243,732 7.9% 0 .0% ( 7.9%) ----------------------------------------------------------------------------- CAPITAL PROJECTS TOTAL 522,737 12.1% 466,017 9.1% ( 3.1%) LOTTERY TOTAL 0 .0% 0 .0% .0% ----------------------------------------------------------------------------- GRAND TOTAL 4,919,991 35.5% 5,331,989 32.6% ( 2.9%) 8