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HomeMy WebLinkAbout1990-08-21 Support Documentation Town Council Regular Session VAIL TOWN COUNCIL REGULAR MEETING TUESDAY, AUGUST 21, 1990 7:30 p.m. AGENDA 1. CITIZEN PARTICIPATION 2. Cemetery Committee Presentation 3. Ordinance No. 27, Series of 1990, second reading, an ordinance amending Chapter 18.04 of the Vail Municipal Code by the addition of Section 18.04.035 Brew Pub; and amending Section 18.28.030 of the Municipal Code to add Brew Pub as a permitted use in the Commercial Service Center zone district; amending Chapter 18.28.040 of the Vail Municipal Code by the addition of Brew Pubs that sell beer wholesale and Brew Pubs which sell fifteen percent of the manufactured beer or ale for off-site consumption as conditional uses to the Commercial Service Center zone district; amending Chapter 18.28 of the Vail Municipal Code to provide certain restrictions in the operation of a Brew Pub; and setting forth details in regard thereto. 4. Ordinance No. 31, Series of 1990, first reading, an ordinance amending Section 5.04.040 of the Municipal Code of the Town of Vail to provide that persons who short term rent units for less than fifteen (15) days per year shall be exempt from the payment of the business license fee under certain circumstances; setting forth new business license fees for people who rent less than three (3) units; and setting forth details in regard thereto. 5. Resolution No. 20, Series of 1990, a resolution supporting an election to increase county sales tax in an amount sufficient to finance a county-wide bus system. 6. Resolution No. 21, Series of 1990, a resolution supporting the Black Lakes Reservoir Project proposed by the Vail Valley Consolidated Water District, with certain conditions. 7. Action on Town of Vail/Vail Metropolitan Recreation District First Addendum to Agreement 8. Adjournment TOWN COUNCIL REGULAR MEETING TUESDAY, AUGUST 21, 1990 7:30 p.m. EXPANDED AGENDA 7:30 1. CITIZEN PARTICIPATION 7:45 2. Cemetery Committee Presentation Kristan Pritz Action Reauested of Council: Decide if Donovan Park is the site for a Town of Vail cemetery. Determine if staff should begin preparation of an application for a conditional use permit. Background Rationale: A majority of the Cemetery Committee supports Donovan Park as an appropriate site for a Town of Vail cemetery given the site suitability analysis. One committee member is strongly opposed to the Donovan site. The Cemetery Committee wanted to point out to the Council that the surrounding neighbors are very much against the Donovan site. Staff Recommendation: If given the go ahead by Council for the Donovan site, staff would prepare specifics on management, design for the cemetery to prepare for a conditional use permit. 9:15 3. Ordinance No. 27, Series of 1990, second reading, which is a Andy Knudtsen request to amend Sections 18.04 and 18.28 of the Vail Municipal Code by adding a brew pub definition, making a brew pub a use by right in the Commercial Service Center zone district with defined operating characteristics, making a brew pub with sales for off-site consumption a conditional use, and making a brew pub as a wholesale outlet a conditional use. (Applicant: Dean Liotta) Action Reauested of Council: Approve/deny Ordinance No. 27, Series of 1990, on second reading. Background Rationale: The applicant's brew pub proposal cannot currently,be located in the TOV since the code does not identify it in any section. With the proposed ordinance change, the code will define the use, setting limits to the operating characteristics. The PEC unanimously recommended approval (7-0) of the code changes, with three amendments to the staff recommendation. The PEC increased the brewing capacity, removed language regarding odors, and divided the one conditional use review into two specific reviews. At first reading, Council joined the two separated conditions back into one. Staff Recommendation: Approve Ordinance No. 27, Series of 1990, on second reading. 9:30 4. Ordinance No. 31, Series of 1990, first reading, an Sally Lorton ordinance amending Section 5.04.040 of the Municipal Code of Steve Barwick the Town of Vail to provide that persons who short term rent Larry Eskwith units for less than fifteen (15) days per year shall be exempt from the payment of the business license fee under certain circumstances; setting forth new business license fees for people who rent less than three (3) units; and setting forth details in regard thereto. Action Requested of Council: Approve/deny Ordinance No. 31, Series of 1990, on first reading. Background Rationale: This is an attempt to treat short term rentals and bed and breakfast establishments similarly by taxing all short term rentals unless they are rented less than 15 days per year. Staff Recommendation: Approve Ordinance No. 31, Series of 1990, on first reading. 9:45 5. Resolution No. 20, Series of 1990, a resolution supporting Ron Phillips the November 6, 1990. Eagle County Bus System Vote Steve Barwick Stan Berryman Action Requested of Council: Receive presentation from staff on the status of Eagle County's bus system proposal, and take action on Resolution No. 20, Series of 1990. Background Rationale: The Eagle County Commissioners have requested that the Vail Town Council, along with Councils from several other communities, make a formal statement of support for the proposed bus systerri vote. Staff Recommendation: Approve Resolution No. 20, Series of 1990. 10:00 6. Resolution No. 21, Series of 1990, a resolution supporting Kristan Pritz the Black Lakes Reservoir Project ~~roposed by the Vail Valley Consolidated Water District, with certain conditions. Action Requested of Council: Approve/deny Resolution No. 21, Series of 1990. Background Rationale: The Eagle County Commissioners are having a hearing on Monday, August 27th, on Black Lakes. The Council prepared a resolution 'in 1988 and~wili review the updated resolution in preparation for they presentation at the 27th meeting. Staff Recommendation: Approve Res~~lution No. 21, Series of 1990. 10:15 7. Action on Town of Vail/UMRD first ;addendum to agreement Larry Eskwith Action Requested of Council: Appr~~ve/deny addendum to TOV/UMRD agreement. Background Rationale: The joint T~~V/UMRD Committee suggested that certain changes be made in the agreement. Staff Recommendation: Approve the addendum. 10:30 8. Adjournment I I -2- TO: Planning and Environmental Commission FROM: Community Development Department DATE: July 23, 1990 SUBJECT: A request to amend the Vail Municipal Code, Section 18.04 to add a definition for "brew pub" and a request to amend the Commercial Service Center zone district, Section 18.28, to allow a brew pub as a permitted use. Applicant: Dean Liotta I. DESCRIPTION OF THE REQUEST The applicant is proposing to change the zoning code to allow a brew pub as a use by right in the Commercial Service Center (CSC) zone district. This zone district applies only to the Crossroads shopping center and condominiums. The request, at this time, is to: define the brew pub use in the definition section of the code; and list the use as a permitted use in the CSC section of the code; list the use, with limited off site sales, as a conditional use in the CSC section of the code; and include a paragraph, also in the CSC section, regarding operating characteristics. The definition and paragraph on operating characteristics are attached as Exhibit A at the end of this memo. Note that a Planning and Environmental Commission (PEC) review will not be required for this permitted use. II. BACKGROUND RESEARCH Staff researched the operating characteristics that distinguish a brew pub from a restaurant or from a micro brewery, including delivery schedules, odors, size, production quantity, and marketing and distribution of the beer making operation. A table is provided in Exhibit B of the different communities surveyed. Descriptions of the operating characteristics are listed below. 1 The deliveries required for a brew pub include typical r restaurant trips (daily for the food used in the restaurant, weekly for the liquor used in the bar). The delivery trips of raw materials to the brewery would be weekly, at most. The delivery schedule for the Breckenridge brew pub, which is similar to other brew pubs staff researched, is monthly for grain and every three months for hops. Another aspect of the brew pub is the odor emitted during brewing. The applicant has stated that odors will occur during the brewing period which will range from 75 to 100 minutes, three to five times a week. The odor emitted is not pungent or sharp. It can be smelled up to~ 15 - 20 feet away from the use and has been described as being similar to baking bread. The size of the brewery function ranges from a quarter to a third of the total floor area in the brew pubs staff researched. A majority of the floor area is used for restaurant seating, the kitchen, or the ba.r. With the Town of Vail's proposed "brew pub" ordinance, the maximum area allowed for the brewery is twenty-five pez~cent of the floor area. The amount of beer produced in a brew pub differs dramatically from micro-breweries. Typically, micro breweries produce about 10,000 barrels peY~ year. A micro brewery, as defined in the Vail Municipal Code can produce up to 7,000 barrels per year. The brew pub, as proposed in this ordinance change, will have a cap of 1,000 barrels per year. The applicant is actually proposing to make 750 barrels per year, which is less than the cap. Another major difference between a brew pLib and a micro- brewery is the marketing and distribution of the product. Normally, micro-breweries distribute regionally and cover several states. Because a brew pub produc;es so much less beer than a micro brewery, the distribution typically is limited to local bars and restaurants. Iri addition to beer sold on tap in other bars, staff considers: beer sold at the front counter of the restaurant for off site consumption as "off site" sales. With the proposed definition, the combined off site sales will be limited to 15 percent of the total product produced each year. 2 r' III. EVALUATION OF THIS REQUEST A. Suitability of existing zoning. The purpose of Commercial Service District as defined in the Town's zoning code states: Section 18.28.010 "The Commercial Service Center zone district is intended to provide sites for general shopping and commercial facilities serving the Town, together with limited multiple-family dwelling and lodge uses as may be appropriate without interfering with the basic commercial functions of the district. The Commercial Service Center zone district is intended to ensure adequate light, air, open space, and other amenities appropriate to permitted types of buildings and uses and to maintain a convenient shopping center environment for permitted commercial uses." Staff believes that the commercial facilities intended for this district should include uses such as the brew pub. Other similar permitted uses in the CSC zone district include restaurants; bakeries and confectioneries including preparation of products for sale on the premises; delicatessens with food service; taverns; and liquor stores. As stated above, staff views the brew pub as primarily a restaurant that has a special feature, the brewing operation. Given this opinion, the Commercial Service Center zoning is suitable for a brew pub. B. Is the amendment proposal presenting a convenient, workable relationship among land uses consistent with municipal objectives? Generally, restaurants in this district can be compatible with the other uses in the zone district. There are some characteristics about a brew pub, unlike a restaurant, which must be regulated in order to ensure compatibility with the surrounding uses. Staff was concerned with regulating four features of a brew pub: the production volume, the size, the distribution, and the odor. Brewing Capacity Concerning volume, staff believes that it is appropriate to put a cap on brew pubs, limiting the volume of the beer produced to 1,000 barrels per year. This is consistent with the productions of 3 brew pubs across the nation and will ensure that the use maintains an appropriate size for~this zone district and maintains an accessary status to the restaurant operation. Limit To Brewing Operation ~ The second point in the definition limits the brewing function to 25 percent of the floor area of the total operation. This is im~~ortant to the planning staff because it ensure; that the restaurant function is the primary use. .Restaurants, we believe, are appropriate in this zone as are brew pubs, but only i.f the brewing operation is an accessory use to restaurants. Off Site Sales A third issue is off-site sales. Staff believes that it would be beneficial to allow the beer brewed in the brew pub to be sold on tap in other local restaurants. In addition, customers may want to purchase the beer at the rest~~urant cashier counter and take it home with therm. Staff believes that these two kinds of off-site sales for off-site consumption are reasonable. There are two impacts associated with theioff site sales which need to be addressed. The first is production volume. Limiting the off-site sales to 15 percent of the annual production will allow this kind of distribution, but will prevent a wide distribution system with a large consumer; demand which would make the brew pub le:~s of a restaurant and more of a micro-brewery. The: second impact is the loading and delivery requirements for~even a small distribution system. Crossroads is; different from other brew pub locations thzit staff ;researched in that it has two large multi-to:pant buildings. Because of the existing parking, loading „ and delivery congestion, staff believes that any new, frequent loading and delivery pat:terns must be able to be accommodated without worsening the existing congestion. ~ Staff is proposing to allow off :site sales as conditional use. This will enab]Le the Town to map out and analyze the delivery of t:he outgoing product. If the delivery system cannot comply with the Town of Vail standards in Section 18.52.130, staff will not recommend approva:L of the request to the PEC. 4 ,w Deliveries of raw materials Staff understands that the deliveries of raw materials are similar to an average restaurant and need no special regulation. Odor Odor is an impact that is not likely to be perceived as a problem. However, staff believed that it needed to be addressed in the zoning code to make the use compatible with surrounding tenants. Of all the people that staff checked with, no one had complaints about the odor. The brew masters and restaurant people all said that it was a pleasant smell (not surprisingly). Planners in various communities said that it was not a problem and that no one had complained to them. Though generally not a problem, we do want to ensure that this factor does not negatively impact abutting tenant spaces. Vail's brew pub will be unique from others staff looked at in that it is a tenant space in a larger building and not in its own free standing building. For this reason, Staff recommends adding a stipulation in the CSC section of the code that the brewing occur before or after business hours. Staff understands that the odor occurs only during the brewing, which takes approximately 100 minutes. The applicant proposes to brew three to five times a week. Though the smell may be attractive to people walking by or those in the pub, staff is concerned that adjacent tenants may grow weary of a frequent brewing odor. By limiting the hours of brewing to before or after regular business hours, the adjacent tenants should be protected. Other methods of mitigation include installing a powerful ventilation system and piping the air into the sanitary sewer or installing air scours in the vents to purify the air before releasing it outside. From discussions with staff from Upper Eagle Valley Water and Sewer District, it appears that venting the odor into the sewer would be feasible. However, staff believes that the expense involved with either of these options is not warranted given the relative mildness of the smell. Also, the effectiveness of any ventilating system is not guaranteed to direct the smell to the correct location. In staff's opinion, regulating the hours of brewing appears to be the most effective way to make the pub compatible with other Crossroads tenants. 5 i ~In summary, the brew pub, as it will be defined in the w zoning code will have a convenient, workable, compatible relationship with the other land uses in the Commercial Service Center district. C. Does the amendment Dronosal Drovide for the growth of an orderly and viable community? Staff believes that adding a brew pub use to the Commercial Service District will be an asset to the community. Planners from other communities said that the brew pubs were unique, attractive, highlyifrequented restaurants. Therefore, the Vail Town staff believes that it will be a use that is enjoyed by residents and guests and will make the community more viable. i The proposed code changes are consistent withigoals in the Land Use Plan. Goal 3.5 calls for additional night time business in the Village and Lionshead areas. Goal 4.1 generally applies to this proposal as it calls for further commercial development to occur in existing commercial areas. IV. STAFF RECOMMENDATION The Community Development Department recommends approval of the applicant's request to modify the Town zoning code to allow a brew pub as a permitted use in the CSC zone district. We believe that the brew pub,. as defined in Exhibit A, is an appropriate use. It should be operated under a by~right status without conditional use review, since the impacts have been studied and are minimal or have been addressed in the proposed revisions to the zoning code. Adding this use to the Town's code will allow a unique operation in the Town of Vail and will make the Commercial Service Districtjmore viable. j I i I I i 6 i I i E88IBIT A BREW PUB DEFINITION To Become Section 18.04.035: A brew pub means an eating place which includes the brewing of beer as an accessory use. The brewing operation processes water, malt, hops and yeast into beer or ale by mashing, cooking and fermenting. The area used for brewing, including bottling and kegging, shall not exceed 25 percent of the total floor area of the commercial space. The brewery shall not produce more than 1,000 barrels per year. A barrel is equivalent to 31 gallons. ADDITIONAL REGULATIONS FOR BREW PUBS TO BE LOCATED IN THE COMMERCIAL SERVICE CENTER SECTION OF THE ZONING CODE To Become Section 18.28.030, Permitted Uses, (G): The brew pub operation shall be conducted under the following parameters: 1-- There shall be no exterior storage of any supplies, refuse, or materials; 2-- The operator shall comply with the Town of Vail's loading and delivery regulations as specified in Section 18.52.130, Town of Vail, Municipal Code. 3-- The operator shall not brew beer during normal business hours-- specifically, not between the hours of 10 AM to 8 PM, seven days a week. 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Use b n ht.as:::> Notre ulation::>.:.:.:..:.: None.:Allowetl.:: o;;:.;:.;:<.;::.::;:::.;:;:.;:.::..: 9....:..:.... . : I :;LAKE.; which is a.:.:.:.::..:.:.: staff considers , 10096::of<:....:.egu at. o. ; ; SALT:. , ; . ; transttionab,business it a restaurant/:> ; p ~ . WIWUIIIGU. ::::::?::::::;::::5i^.::.,;..>';;:P:i::+.`:%<'i ::.J;iii::;`>>.: .::;:i:i:i:; . . on stte:::.::... limi N t AII'> 'Irv' re' - o de e s Allow in Conditional No``::`:: No ed ; . an :zone: Use re ulation re ulation must`occur::;:; PARK CITY y.: _ g _ , g , ; before noon:i::;` ~IYI:ii:'>::m<:i:i2<>:i~~> ~:.+'i ;''`;';;it:iii;:;; ; :Allowed in:C2 &;M3';.;..'.; .Use by No : No . ust._ sett.:. , PORTLAND , which is,generat right,,;.:.,,, , . regulation . ; egulation general city: Maximum of`:: > . ' ' rtis:; 10 000 . ft: , : commercial:zoning; ~ ' ' regu atf sq , h ht ind , t TO: Town Council FROM: Community Development Department DATE: August 7, 1990 RE: A request to amend Sections 18.04 and 18.28 of the Vail Municipal Code by adding a brew pub definition, making a brew pub a use by right in the Commercial Service Center zone district with defined operating characteristics, making a brew pub with sales for off- site consumption a conditional use, and making a brew pub as a wholesale outlet a conditional use. Applicant: Dean Liotta I. BACKGROUND The applicant would like to open a brew pub in the former Burger King location in Crossroads. In order to do this, he is proposing to amend the Zoning Code to allow brew pubs as a use by right in the Commercial Service Center Zone District. The attached PEC memo describes the applicant's request in detail, evaluates it in light of the criteria, and provides an overview of the research that staff has done on brew pubs. II. PEC ANALYSIS During the PEC review of the proposed ordinance change, the Commission made three amendments to the staff memo. The Commission stated that a brew pub would be a compatible use in this zone even if it had a larger production capacity than the 1000 barrels/year cap the staff proposed. The Commission recommended that the cap be increased to 1500 barrels/year. A second amendment to the staff recommendation was to delete any regulation pertaining to odor. Staff described two options and recommended limiting the hours of brewing so that the surrounding businesses would not be affected. The Commission believed that the odor was not likely to be a severe problem and that using an "hours of operation" approach would not protect all the users of Crossroads anyway. After deciding to delete the proposed language, the commission did state that they wanted the Town to be able to regulate odors if, once the brew pub was up and running, the odor was a problem. After discussions with the Town Attorney, staff has determined that in the future, the Town can initiate an odor control ordinance that will be retroactive, if it is needed. 1 The third and final amendment to the staff memo was to separate the two kinds of conditional uses. Staff proposed that both wholesales and sales for off-site consumption could be considered together as one conditional use. The PEC thought that there should be two conditional use reviews with a specific analysis of each kind of sale and the related impacts. III. PEC RECOMMENDATION With the changes described above, the PEC unanimously recommended approval, by a vote of 7-0, of the proposed ordinance. The Commission believed that the proposed change met the criteria as staff had analyzed it. 2 ORDINANCE NO. 27 Series of 1990 AN ORDINANCE AMENDING CHAPTER 18.04 OF THE VAIL MUNICIPAL CODE BY THE ADDITION OF SECTION 18.04.035 BREW PUB; AND AMENDING SECTION 18.28.030 OF THE MUNICIPAL CODE TO ADD BREW PUB AS A PERMITTED USE IN THE COMMERCIAL SERVICE CENTER ZONE DISTRICT; AMENDING CHAPTER 18.28.040 OF THE VAIL MUNICIPAL CODE BY THE ADDITION OF BREW PUBS THAT SELL BEER WHOLESALE OR WHICH SELL FIFTEEN PERCENT OF THE MANUFACTURED BEER OR ALE FOR OFF-SITE CONSUMPTION AS A CONDITIONAL USE TO THE COMMERCIAL SERVICE CENTER ZONE DISTRICT; AMENDING CHAPTER 18.28 OF THE VAIL MUNICIPAL CODE TO PROVIDE CERTAIN RESTRICTIONS IN THE OPERATION OF A BREW PUB; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Planning and Environmental Commission has recommended to the Town Council that they add Brew Pub as a permitted use in the Commercial Service Center zone district; and WHEREAS, the Planning and Environmental Commission has recommended that a Brew Pub which sells beer and ale wholesale or sells beer or ale for consumption off the premises should be a conditional use in the Commercial Service Center District. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO: 1. Chapter 18.04 of the Municipal Code of the Town of Vail is hereby amended by the addition of Section 18.04.035 to read as follows: 18.04.035 BREW PUB A Brew Pub means an eating place which includes the brewing of beer as an accessory use. The brewing operation processes water, malt, hops, and yeast into beer or ale by mashing, cooking, and fermenting. The area used for brewing, including bottling and kegging, shall not exceed twenty-five percent (25$) of the total floor area of the commercial space. The brewery shall not produce more than one thousand five hundred (1,500) barrels of beer or. ale per year. A barrel is equivalent to thirty-one (31) gallons. 2. Section 18.28.030 Permitted Uses of the Municipal Code of the Town of Vail is hereby amended by the addition of Paragraph G to read as follows: 18.28.030 PERMITTED USES G. Brew Pubs as defined in Section 18.04.035 of the Vail Municipal Code, so long as the following conditions are complied with: a) There is no exterior storage of supplies, refuse, or materials on the property upon which the Brew Pub is operated; and 1 b) The operator of the Brew Pub complies with the Town of Vail's loading and delivery reg:.~lations as set forth in Section 10.52.130 of the Town o:E Vail Municipal Code; and c) There are no sales of beer or a:Le at wholesale and no sales for off site consumption. 3. Section 18.28.040 Conditional Uses o:E the Vail Municipal Code is hereby amended by the addition of Paragraph L as follows: 18.28.040 CONDITIONAL USES L. Brew Pubs which sell beer or ale at wholesale or which sell beer or ale for off-site consumption so long a:~ the total of wholesale sales and sales for off-site consumption do not exce=ed fifteen percent (15$) of the product manufactured by the Brew Pub o~Z an annual basis. 4. If any part, section, subsection, se~ztence, clause or phrase of this Ordinance is for any reason held to be inva:Lid, such decision shall not affect the validity of the remaining portions o:E this Ordinance; and the Town Council hereby declares it would have passead this Ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, :sections, subsections, sentences, clauses or phrases be declared invalid. 5. The Town Council hereby finds, determ:Lnes and declares that this Ordinance is necessary and proper for the heali~h, safety and welfare of the Town of Vail and the inhabitants thereof. 6. The repeal or the repeal and reenactmeant of any provision of the Municipal Code of the Town of Vail as provided :in this Ordinance shall not affect any right which has accrued, any duty im~~osed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceedings as commenced under or by virtue of the provision repealed or repealed and ree=nacted. The repeal of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly :stated herein. 7. All bylaws, orders, resolutions, and ordinances, or parts thereof, inconsistent herewith are repealed to the eaxtent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution, or ordinance, or part thereof, hearetofore repealed. 2 a. . INTRODUCED, READ AND APPROVED ON FIRST READING this day of 1990, and a public hearing shall be held on this Ordinance on the day of , 1990, at 7:30 p.m. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Ordered published in full this day of , 1990. Kent R. Rose, Mayor ATTEST: Pamela A. Brandmeyer, Town Clerk INTRODUCED, READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this day of , 1990. Kent R. Rose, Mayor ATTEST: Pamela A. Brandmeyer, Town Clerk 3 ORDINANCE N0. 31 Series of 1990 AN ORDINANCE AMENDING SECTION 5.04.040 OF THE MUNICIPAL CODE OF THE TOWN OF VAIL TO PROVIDE THAT PERSONS WHO SHORT TERM RENT UNITS FOR LESS THAN FIFTEEN (15) DAYS PER YEAR SHALL BE EXEMPT FROM THE PAYMENT OF THE BUSINESS LICENSE FEE UNDER CERTAIN CIRCUMSTANCES; SETTING FORTH NEW BUSINESS LICENSE FEES FOR PEOPLE WHO RENT LESS THAN THREE (3) UNITS; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Town Council is of the belief that it is more equitable to exempt certain short term rentals of less than fifteen (15) days; and WHEREAS, the Town Council is of the belief that persons who short term rent less than three (3) units should have their license fee reduced. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, as follows: 1. Section 5.04.040, paragraph B 1 c of the Vail Municipal Code is hereby amended to read as follows: Persons who short term rent dwelling units or accommodation units for no more than fifteen (15) days per year shall be exempt from the provisions of this Chapter. 2. Section 5.04.040, paragraph B of the Vail Municipal Code is hereby amended by the addition of subparagraph d to read as follows: Persons who engage in short term rental of less than three (3) accommodation units or dwelling units located in Zone 1 shall pay a business license fee of one hundred fifty dollars ($150). Persons who short term rent less than three (3) units in Zone 2 shall pay a fee of one hundred twelve dollars and fifty cents ($112.50). 3. If any part, section, subsection, sentence, clause or phrase of this Ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this Ordinance; and the Town Council hereby declares it would have passed this Ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. 4. The Town Council hereby finds, determines and declares that this Ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof. 5. The repeal or the repeal and reenactment of any provision of the Municipal Code of the Town of Vail as provided in this Ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the I effective date hereof, any prosecution commenced, nor any ether action or proceedings as commenced under or by virtue of the provisi~~n repeale~ or repealed and reenacted. The repeal of any provision hereby shall n~~t revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. fi. All bylaws, orders, resolutions, and ordinances, ~~r parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution, or ordinance, or part thereof, heretofore repealed. INTRODUCED, READ AND APPROVED ON FIRST READING this day of , 1990, and a public hearing shall be held on this Ordinance on the day of 1990, at 7:30 p.m. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Ordered published in full this day of 1990. Kent R. Rose, Mayor ATTEST: Pamela A. Brandmeyer, Town Clerk INTRODUCED, READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this day of 1990. Kent R. Rose, Mayor ATTEST: Pamela A. Brandmeyer, Town Clerk -2- • s ~ FIRST ADDENDUM TO TOWN OF VAIL/VAIL METROPOLITAN RECREATION DISTRICT AGREEMENT THIS ADDENDUM is made and entered into this X day of ~ , 1990, by and between the TOWN OF VAIL, COLORADO, a Colorado municipal corporation, hereinafter referred to as "the Town," and the VAIL METROPOLITAN RECREATION DISTRICT, a Colorado quasi-municipal corporation, hereinafter referred to as "the District." WHEREAS, the Town and the District entered into a certain Agreement dated January 24, 1989, dealing generally with the provision of recreational programs and services to the inhabitants and guests of the Town by the District (the "Agreement"); and WHEREAS, the parties wish to amend certain provisions of the Agreement and Exhibit E attached to the Agreement and incorporated therein. NOW THEREFORE, in consideration of the mutual promises contained herein, the parties hereto agree as follows: 1. Commencing on January 1, 1990, the amount of the financial contribution made by the Town to the District shall be increased from five hundred twenty-two thousand thirty-three dollars ($522,033) to the sum of five hundred forty-three thousand two hundred forty-three dollars ($543,243). 2. Commencing on January 1, 1990, Exhibit E of the Agreement is hereby amended .to read as set forth in the Exhibit E attached hereto and made a part of this Addendum by reference. 3. Commencing on January 1, 1990, paragraph 5 is amended to provide for the following additional services to be provided by the Town to the District: Ford Park - Irrigation (1990 only) - Trash Removal (non-special event only) - Flower Planting and Maintenance in Current Beds at Tennis Courts - Hand Mowing around Tennis Courts - Repair Irrigation System Golden Peak ~ - Trash pickup Golf Course - Flower Planting and Maintenance in Current Beds - Plowing - Sweeping Dobson Ice Arena - Flower Planting and Maintenance in Current Beds - Mowing Red Sandstone School - Plowing - Sanding Special Events - Races (only for similar events and races as actually held in 1989) - Street Sweeping - Police - Setting Courses/Blockades 4. The provision in paragraph 9 of the Agreement which provides that no later than two (2) years from the date of the commencement of the Agreement the District will hold an election and submit a mill levy increase to the authorized voters of the District sufficient to increase the District's annual tax increases in an amount equal to the Town`s annual contribution is hereby deleted. 5. In addition to any contributions of the Town set forth in the Agreement or this Addendum, and any expenses to be paid by the District set forth in the Agreement and this Addendum, each party shall pay those recreation related expenses which they respectively paid prior to the execution of the Agreement. 6. Except for the amendments set forth in this Addendum, all other provisions of the Agreement shall remain unchanged and in full force and effeci. WHEREFORE, the parties have signed this Addendum on _ 19~~ . VAIL METIROPOLITAN RECREATION TOWN OF VAIL, a Colorado municipal DISTRICT, a Colorado corporation quasi-governmenial corporation By : By : _ ~ ~ Rondall V. Phillips, Town Manager Ke Wilson, Chairman -2- J ~ EXHIBIT A Real Property and Improvements Thereon 1. John Dobson Ice Arena and environs 2. Upper floor of the Old Town Shop except the Police weight room 3. The Youth Center 4. The Nature Center 5. The upper bench of Ford Park 6. The public tennis courts 7. The athletic field EXHIBIT E Detail of TOV Payment to UMRD f~~r Provision of Recreation Service: ITEM PAYMENT AiOUNT TOV Recreation Subsidy $476,383 Office Support Expenses 5,850 Unemployment Insurance Costs 2,500 Personal Computer Repair & Maintenance 500 Software Maintenance 788 Fourth of July Youth Event 8,000 Current UMRD Management Fees (29,234) New UMRD Management Fees 33,375 Zamboni Replacement 3,196 * Refrigeration Equipment Replacement 5,700 Parking Passes 1,200 Park Maintenance 23,OQ0 Workers Compensation Insurance 15,970 Property Insurance (4,893) Advertising for Vacant Positions 22,5 Phone Services 683 TON Payment to UMRD $543,243 * This amount will be supplemented by a one-time payment of $7,500 for the Zamboni and $12,000 for the refrigeration equipment. WORK SESSION FOLLOW-UP 8/17/90 Page 1 of 2 TOPIC QUESTIONS FOLLOW-UP SOLUTIONS 8/8/89 WEST INTERMOUNTAIN ANNE?lATION ARRY: Proceeding w/legal requirements for new advocate for petition circulation is being sought. (request: Lapin) annexation. Cindy Callicrate to be contacted. 2/27 SATELLITE POST OFFICE (request: ON: Pursue station "in town" and/or increase Meeting to be set up with Ernie Chavez. Summer bus service Osterfoss) summer bus service? increased. 5/1 AMEND CODE, 12.04.240, STREET CUT TAN/LARRY/KRISTAN: Per Council direction, proceed. Pam has given original ordinances to Stan. Recommended PERMITS changes to be presented to Council in September. 6/12 VAIL GLO SIGN (request: Levine) ON/KRISTAN: Through DRB, or some other process, Kristan will handle. can the lettering color and lighting be modified? 6/26 AIR QUALITY USAN: Issue of passive smoke and smoking in Susan has been given assignment. restaurants needs to be revisited by this fall. 6/26 TED KINDEL MEMORIAL ODD 0.: Track down ownership of land to the south Land is all owned by VA. VA says a plaque can be placed (request: Rose) of the Christiania. If this belongs to the TOV, there. A letter from VA is forthcoming. Stan has begin to formulate memorial plan, i.e., park contacted Gordon Britton, who will have a plaque made up. bench, plaque, etc.? 7/17 BIKES/ROLLER BLADES AND SKATES/ EN/LARRY: Should bicycles, roller blades, etc. be Researching appropriate ordinances. SKATEBOARDS prohibited from highly pedestrianized areas in the Village and Lionshead? 7/17 BUSINESS LICENSE SURVEY RESULTS ALLY LORTON/LARRY: Council is interested in seeing Will be presented to Council August 21. survey results as related to the proposed short- term rental amendment to the business license ordinance. 1/24 AG/OPEN SPACE AMENDMENT ARRY/KRISTAN; Unanimous consensus of Council to Ordinance being developed. ORDINANCE proceed to make AG/Open Space 35 acre minimum per unit. 8/7 VESTED RIGHTS (request: ARRY/KRISTAN: When does a person vest rights for Larry will develop. Fritzlen) development purposes? 7/27 UNDERGROUNDING UTILITIES IN ARRY/STAN: Work with Holy Cross Electric to Scheduled to begin this fall. EAST VAIL establish special improvement district(s) for undergrounding utilities in East Vail. WORK SESSION FOLLOW-UP 8/11/90 FOLLOW-UP SOLUTIONS Page 2 of 2 TOPIC QUESTIONS - 7/27 HOTEL/CONDOMINIUM CONVERSIONS KRISTAN/LARRY: Develop list of hotels with Will provide by August 28. condominium approvals. 8/7 JOHNSON/GATES MEETING RON: Schedule discussion w/Bud Gates and Linda Will do. Johnson-prior-to-November-genera-l-elect;.,,,. N.- 8/14 SECOND QUARTER FINANCIAL REPORT STEVE B.: Provide monthly cashflow projections; Steve developed information for packet. (requests: Lapin, Gibson) under GENERAL FUND REVENUE, what makes up the category "Charges for Services." 8/14 WINTER '90-'91 PARKING PLANS COUNCIL: Any proposed fee/pass scheduled should be Parking & Transportation Advisory Committee meeting will submitted to Ron, preferably by Friday, 8/17/90, be Thursday, 8/23. and no later than 1:30 p.m., Thursday, 8/23/90, for review by the Parking and Transportation Advisory Committee. 8/14 COUNTY COMMISSIONERS REVIEW OF KRISTAN/LARRY: Prepare resolution for the Black Resolution to be presented to Council 8/21. BLACK LAKES PROPOSAL Lakes hearing scheduled by the County Commissioners August 27, 28, & 29, 1990. Prepare comments regarding proposed radio site Resolution to be presented to PEC for their review 8/21. antennae with dishes to be located northwest of the West Vail exist. Hearing: August 27, 1990. 1~ THE WALL STREET JOURNAL THURSDAY, AUGUST 16, 1990 Carl Icahn's Carl Icahn Llkes Ailing Junk Bonds Here are some of Mr. Icahn's largest junk-bond holdings, as estimated by traders and other New.Game. ~ • bondholders.. . - ~ ~ " ' ~ FACE VALUE 1^11r ~1 X~11 C( OF HOLDING CURRENT PRICE JuI11~ BOr1tlJ ISSUER, ' BOND ~ (In mllltons) (Cents on the dollar) Southland 13'/s% notes of 1995 $180 44 By GeoxcE Axni~s Western Union 19'/x% reset notes 70 = 46 StafJR~rter of THE wwta-sa-nE~rJounN,u. Gillett Holdings ~ 125/s°I° bonds of 1998 50 - 27 NEW YORK -Corporate raider Carl 13'/e% bonds of 1999 17 Icahn has elbowed his way into the nastiest Leasewa 13'/x% bonds of 2002 40 . ` 19 corner of the junk-bond market: the re- Y structuring battles over financially trou- Interco T33/~% bonds of 2003 30 . 25. bled companies. - What happens next won't be pretty, Mr. Mr. Icahn complains. But he vows: "The 19'/a% notes unless terms are modified. Icahn acknowledges. But he expects to make a lot of money. equity holders aren't going to roll me over Mr. Icahn hasn't been so combative in . Market estimates are that Mr. Icahn in like they do with some of the other bond- the restructuring of Southland, which oper- the past four months has snapped up holders." ~ ates 7-Eleven stores. But he weighed in nearly $800 million face value of distressed For other investors, it's thrilling and a during last month's creditor talks nonethe- junk bonds, buying them at a steep dis- bit frightening to watch Mr. Icahn, a re- less. "He was pushing for more cash, more count. Mr. Icahn won't comment on that Puted billionaire from his 1980s raids, turn equity, more everything," says Deltec's figure. But he confirms that his big bond his teeth on other takeover specialists who Mr. Gordon, who is head of the Southland holdings include Southland Corp., Western took on too much debt. "There's tremen- bondholders' committee. "It was pretty in- UNon Corp., GWett Holdings Inc., Lea- dous irony m seeing one raider attacking discriminate." seway Transportation Co. and Interco Inc. ~ others, observes John Gordon, ajunk-bond Gillett Holdings could prove to be Mr. All those companies have defaulted on investor at Deltec Securities Corp. "I'd Icahn's next battleground. The broadcast- their debt; their bonds trade anywhere love to see the action as Carl moves for- ing, ski resorts and meatpacking company from 17 cents to 46 cents on the dollar. ward." missed a bond interest payment Aug. 1; it Mr. Icahn says he smells opportuni In the case of Western Union, Mr. Icahn iS offering bondholders cash and new secu- much as he did in the 1980s when he already has taken his first bite. During an rides in exchange for some defaulted • stalked companies such as Texaco Inc., eight-hour conference call among top bond- bonds. Traders estimate that Mr. Icahn ~ Trans World Airlines, ACF Industries Inc. holders last month, Mr. Icahn repeatedly owns $50 million face value of the com- ! and USX Corp. in the stock market. It Pressed Western Union Chairman Bennett pany's most depressed bonds, which trade doesn't appear to bother him that in his Bow about why the ailing telex and at 17 cents to 27 cents on the dollar. new arena he might face protracted fights money-transfer company didn't put more A friend of company owner George Gil- with company owners about how to settle cash into its proposed exchange offer for Lett says that Mr. Icahn's aides are loudly bondholders' claims. holders of its defaulted 19'/a% bonds. Mr. balking at the exchange offer. "Carl and "It's a travesty what some of the equity Icahn owns $70 million face value of these his guys have been giving George fits," owners are doing," Mr. Icahn fumes. "A debt securities, traders estimate. this friend says. Mr. Gillett and Mr. Icahn lot of these guys believe ft's their right to Mr. LeBow insisted that the company both decline to comment. stay in control even if their faulty deci- simply didn't have any more cash, accord- Only in Interco has Mr. Icahn been a sions have completely messed up a com- ing to several people who listened in on the peaceful presence. Interco's chief execu- pany. It's like the divine right of kings." conversation. But Mr. Icahn then snapped: five officer, Richard Loynd, says he met When debts must be restructured, Mr. "What about your management contract? ;with Mr. Icahn in June and found the Icahn says, he wants to collect the best You're getting paid $2.5 million a year. raider "very pleasant, with lots of very possible mix of cash, equity and new bonds Why do you have to get that?" _ creative ideas for the company." Interco in exchange for his current holdings of de- Bondholders say Mr. Icahn ran through already has agreed to turn over more than faulted bonds. And if new part-owners can a list of other demands, including curbs on 70% ownership of the company to bond- be brought in to help "resuscitate" acorn- Western Union's capital spending, so that holders. pany, Mr. Icahn says, he's in favor of that, more money would be available to repay Trying to gauge Mr. Icahn's junk-bond too; bondholders. Many of those points stW investment record so far is difficult. Many of these equity owners aren't haven't been settled; Mr. Icahn has told Traders estimate, though, that Mr. Icahn willing to give up part of their equity and other bondholders that he may block West- has paper profits of about E30 million 6fl their perks to get an infusion of new cash," ern Union's proposed exchange offer for its Please Turn to Page C17, Cgtlf~tl b Carl Icahn Is Tr In ated company, Trans World Airlines, he bons with Mr. LeBow to particular are de- y g says. In the past, the TWA pilots' union scribed by mutual friends as quite frosty i has objected to some of Mr. Icahn's invest- now. HIS Hand at NeW Role • ment moves. All the same, Mr. Icahn, who has said Some day, Mr. Icahn says, he wants to he will be happy only when he is worth EZ In Junk-Bond Market take a friendlier role and pump fresh cash billion, isn't about to forgo a chance to into a financially troubled company. That make more profits. "Carl has probably Continued From Pa a CI could allow him to take a majority owner- g ship stake, much as Japan's Ito-Yokado done more negotiations than any living his Southland bonds, and about $10 million . is proposing to do with Southland. person," says Wilbur Ross, a Rothschild on his Western Union notes. They believe Such a move is an intriguing possibility, Inc. investment banker who specializes in he also made about $30 million in RJR Na- says Marcel Clemensen, director of high- bondholder issues. "He's got himself in a bisco Inc. bonds, which Mr. Icahn says he Yield research at Citicorp. "This market gppa pOSition now." recently sold. Mr. Icahn's Interco position, badly needs recapitalizing," Ms. Clemen- however, is believed to be a loser so far. sen says. "Anyone is welcome." _ More fireworks may lie ahead. This week, a rumor swept the junk-bond market Mr. Icahn says he is buying junk bonds So far, however, Mr. Icahn's aggressive that Mr. Icahn had begun buying bonds is- through "several different companies" bondholder tactics aren't making him any sued by developer Dogald Trump's ca- that he controls, including ACF Industries more popular in c,..r,,.ate boardrooms. sinos. Mr. Icahn wouldn't confirm that. and Unicorn Partners. No purchases, how- "It's sort of a shame," Mr. Icahn says. The bonds are trading as low as 42 cents ever, are being made by his largest affili- "Some of these guys I do like." His rela- on the dollar. RECD AUG 1 71990 August 15, 1990 ivJVN OF VAII. Town Council Members 75 S. Frontage Road Vail, CO 81657 Dear Council Members: I am writing to address my concerns regarding the proposed location of the Vail Cemetery in Donovan Park. This land was purchased by the town with tax transfer dollars as "open space". I attended several community forums some years back regarding the uses of this land. Potential uses were cited as follows: children's play area, softball and soccer fields, picnic areas, etc. All of the input reflected recreational needs that were identified by our community. This land should be used to enhance the lifg of people in Vail -not to satisfy the needs of very few. I urge you to follow nonular opinion and place the cemetery in an area that will not affect the lives of those around it. Sincerely, Rosemary Heller A Concerned Vail Citizen - ~11 town of uaii 75 south frontage road vafl, Colorado 81657 (303) 478-2116 MEMORANDUM TO: Vail Town Counci!L(~~ FROM: Steve Barwick DATE: August 17, 1990 RE: 1991 Second Quarter Financial Report This memo is in response to Councilman Gibson's request for information about the shortfall in the revenue category of "Charges for Services". The following three line items were responsible for the projected decrease in revenue: o Symposium 1990 Budget: $25,000 1990 Projected: $ 0 The Symposium is now conducted by a separate entity and all revenues go directly to them. there is also a cost savings associated with this change. o VMRD Management Fee 1990 Budget: $32,621 1990 Projected: $19,000 VMRD hired an additional office employee. This has reduced the amount of VMRD work being performed by the Town of Vail. MEMO AUGUST 17, 1990 PAGE 2 o Police Contract Overtime 1990 Budget: $17,500 1990 Projected: 4,000 This line item is used to account for revenue generated when outside entities contract with the Town for police services. Less of this type of activity is occurring than originally estimated. There is a corresponding expenditure de~~rease. SHB/ds ~ i~EC'D AUG ~ ~ 199A' ~M~ ~ ~ ~~;~;Q~ ~ ~ (J2~ July 31, 1990 DRAFT ~~""_~0__ v Outline of Remarks on Amendment No. 1 "Taxes in Perspective" I. Where is the beef? Taxes in Colorado are about average in fact slightly below average A. Proponents statistics are misleading and don't reflect reality in Colorado B. Examples of proponents statistics 1. Proponents say property tax rates increased 11.1% in 1989 2. The fact is, based upon Colorado Public Expenditure Council (CPEC) reports, total property taxes in Colorado increased by 6.1°s in 1989 and 2.5°s in 1990 3. Municipal general activity revenues per capita, when adjusted for inflation, actually decreased between 1978 and 1988 by 8.80 4. Proponents report that Colorado has the highest motor fuel taxes in the nation. Actually, according to the Colorado American Automobile 1 i 'J Association, it other states had higher or the ~ same tax rate 5. The proponents cite Colorado local government revenues as exceeding the national average by 28~. Actually, when state and local revenues are combined, (the most relevant com~~arison} taxes in Colorado are below average. - Rank a. State and local per capita '88 22 b. State per capita '88 43 c. Local per capita '88 6 d. State and local per $1,000 :Lncome 32 e. State per $1,000 income 49 f. Local per $1,000 income 5 (Coloradoans pride themselves on local control. Consequently, local taxes are comparatively high and state taxes are comparativel~~ low. When combined, state and local taxes ~~re slightly below average.} ~C. Elaborate system of protections for local taxpayers 1. Recall 2. Initiative, referendum 3. Existing tax limits 4. Frequent elections of officials 2 5. These protections ensure adequate local citizen control without destroying representative government and the ability of government to respond to emergencies and other needs D. Contrast federal situation real problem is at the national level where the federal government raises approximately 2/3 of all government taxes and fees and yet is not subject to the recall, initiative and referendum protections which apply to state and local governments E. Voters recognize the need for flexibility and the fact that taxes in Colorado are not out of control. In fact, voters have rejected proposals similar to Amendment 1 on six initiatives since 1972. II. Read the Fine Print! Measure Goes Far Beyond Limiting New Taxes! A. Very detailed, confusing and restrictive language. The real impact will not be known until long after the election and after expensive and protracted litigation. B. Study its impact carefully C. In general, requires voter approval for new taxes, increased taxes, new fees and increased fees 3 D. A major rollback of existing taxes .not just a lid on new taxes 1. 69 mill limit rolls back taxes in many areas current mill levies exceed 69 mills in parts of most counties! This limit will r~~ll back tax revenues and result in the loss o:E hundreds of millions of dollars in existing tax revenues over the next ten years: 2. Personal property tax credit O:iPB estimates revenue loss of $105 million for ]:fiscal 91192 from the $200 credit per taxpayer. Th~Ls loss will actually increase in subsequent years as the $200 credit escalates. 3. Emergency reserves requirements reduce spendable revenues otherwise available for :services. 4. Increased costs to administer and comply with amendment these costs will further reduce revenues available to provide current government services E. Outright prohibition on certain taxes even with voter approval 1. Property taxes a. 69 mills cannot be exceeded even with voter approval except to retire debt b. Can't be used as an emergency tax to respond to emergencies 4 i 2. Real estate transfer taxes new taxes and increased taxes prohibited even if local citizens approve 3. Income taxes uniform rate mandated 4. These restrictions apply even where state or local citizens are willing to approve at an election those taxes to fund government services F. Voter approval required for routine increases in fees and charges where the increase exceeds the CPI increase 1. Incredible number of state and local charges affected a. School book, music, and athlete fees b. Park and recreation charges, such as green fees, swimming pool fees, fishing licenses c. Water, sewer, trash, and electrical fees d. Aircraft landing fees e. Filing and registration fees f. Hundreds of other government fees for services 2. Allowable increases (up to Denver-Boulder CPI are . misguided and inflexible) a. Need to increase revenue does not necessarily coincide with Denver-Boulder CPI (1) Economy varies from region to region 5 (2) Some expenses are not geared to CPI and must be incurred with or without voter approval (a) Medical (b) Fuel b. Lag in CPZ number versus rev=nue needs c. Voter approval required for ;sll new fees for existing or new services regardless of how small the fee - 3. Citizens will be forced to vote o~i and hopefully become familiar with an incrediblE~ number of state and local fees G. Cumbersome and expensive election process 1. Consolidated elections (three dates available every two years) mass confusion for voters 2. Notice requirements mailing co:;ts and difficulties 3. Detailed summary plus required description of arguments for and against the measure how will accuracy be determined? 4. Effect of underestimating revenues is a tax refund therefore, public officials will be encouraged to overstate revenues 5. Additional expensive elections will be required to vote on the taxes, fees and bond issues which currently do not require referendums 6 I 6. Taxpayers will incur additional expenses just for government to comply with the initiative's requirements H. Emergency exceptions while some exceptions are allowed, the emergency provisions are really inflexible and unwise 1. Narrowly defined to exclude revenue shortfalls and economic conditions {A major revenue shortfall is just as serious an emergency as emergencies caused by an act of God both threaten continuation of government services.) 2. Can't raise property taxes to cover shortfall for some local governments property taxes are the principal tax available to finance emergencies 3. Emergency tax hike repealed if subsequent election doesn't ratify I. Protections for local government inadequate 1. State mandates a. Social services and courts $68 million according to OSPB b. Increased expenditures for state government or reduction in social services and court expenditures and services may occur c. Other mandates? The measure fails to define a mandated "program" so impact on local services and local expenditures is 7 unclear. What about continu~~tion of environmental and personnel ~~ractices and benefit mandates? 2. State reimbursements state dis~:retion to reimburse state discretion cou~~led with state revenue and expenditure limitatio~is indicate that state reimbursement to local gove~_nments may be the exception rather than the rule 3. Impractical for local governments to enforce these provisions which could turn out to be little more than "lip service" protections J. Possible public project and municipal Mond implications 1. Reduces existing revenues 2. Restricts increased revenues 3. Adverse impact on bond ratings, rE:sulting in increased interest costs to taxpa~~ers to fund public improvements 4. Additional litigation grounds to t~lock public projects 5. Restricts public investment for ec:onomic development 6. Requires voter approval of increa:>ed fees and charges; thus impairing financing of public facilities with revenue bonds 8 - 7. Requires voter approval for all debt and "other financial obligations" (i.e., water bonds, revenue bonds, and certificates of participation) 8. Requires elaborate election notices and prohibits special elections III. There is no such thing as a free lunch! A. Good services, adequate public facilities, quality education these all require tax revenue B. Quality of life and economic development require tax revenue and an investment in our future C. Best met through representative government coupled with existing protections of recall, initiative and referendum where needed D. This initiative sacrifices local control, current services, and the ability of government to respond quickly and effectively E. Let's not buv a pia in a poke!!! 9 STATE OF COLORADO Department of Regulatory Agencies ~~,oF`°~°R PUBLIC UTILITIES COMMISSION Steven V. Berson Arnold H. Cook, Chairman Executive Director ~ ~ y Ronald L. Lehr, Commissioner ~m~~ o~ Gary L. Nakarado, Commissioner r~~n ` James P. Spiers, Executive Secretary Roy Romer Governor August 9, 1990 Town of Vail Kent R. Rose, Mayor 75 South Frontage Road Vail, CO 81657 Dear Mayor Rose: RE: Your letter concerning Local Calling Area Plan Thank you for telling the Commission about your concerns with the U S WEST Local Calling Area Plan (LCAP) which was implemented on June 19, 1990 for your community. When the LCAP decision was made in July 1989, the PUC Commissioners stressed that the LCAP plan was not "cast in concrete." They noted that community of interests could change in the future which could result in changes in call volumes from one community to another. This could cause further changes to local calling areas. With this possibility likely, the Commissioners created a task force to review the LCAP plan, and directed the task force to make recommendations regarding any proposed modifications. The task force is to report to the Commissioners at least every two years. The task force will begin its review of LCAP in July 1991, a year after LCAP's implementation. Your letter regarding a change of calling area will be referred to the task force for its recommendations. The task force recommendations and your letter will. be submitted to the Commissioners. The local calling areas which have been established were based on communities of interest and considerations required by law. The Commission defined a community of interest to be the combined customers' primary communication needs for a particular exchange. These needs included calls for health and safety purposes, business purposes, to schools, for community activities and for social and governmental activities. An indicator of community of interest is shown by call volumes from one exchange to another. The Commission used the standard of an average of three calls per customer per month from one exchange to another to ,establish a local calling area. When the call volume was three or more calls per customer per month, the Commission included the exchange within a local calling area. Please note the standard used was for an exchange and not specific .t~o~an~r~ett~t~icenleve~~a'~en'ver, Colorado 80203 General Information (303) 894-2070 or 1-800-888-0170 • FAX (303) 894-2065 By state law, .the rearrangement of local calling areas c~~nnot adversely affect the entire telephone system of any local telephone company. The Commission is required to protect the entire telephone system. The law also requires the Commission to ensure that the established local calling areas will not adversely affect a telephone company's financial integrity. In other words, the revenue losses to an affected telephone company must be minimized with the change of a local calling area, which in turn minimizes rate increases to its customers. The Commission welcomes your comments. If you would likes to provide additional information concerning your calling area or if' you have suggestions concerning the criteria used by the Commission to establish local calling areas, please write to the: PUC Calling Area Task Force Docket 89M 083T 1580 Logan St., OL2 Denver, Colo. 80203 Sincerely yours, Y~~ Barbara Fernandez External Affairs Manager AGENDA . csyf~i~,;....- t~~Sf, TTT~~~1t "}T5j l _ - REGULAR MEETING ~ 13t:3 r~~ ~~~~r r ~k~: = RECREATION D ~h~"r'3' ~ ; VAIL METROPOLITAN ~ ~ ~ ~ . ` ~ ~ BOARD OF DIRECTORS _ . WEDNESDAY, AUGUST 8, 1990 r~ ~ VAIL TOWN COUNCIL CHAMBERS 2:00 - Final walk through at Ford Park Tennis Facility 2:40 - Executive session - Vail council chambers 1. Regular Meeting - Call to order 3:00 PM 2. Approval of Minutes: July 11, 1990 (see attached) 3. Audit Report (see attached) - Jerry McMahan 4. Financial Report (see attached) - Jones 5. Golf Course Irrigation Project - fall phase - Ben Krueger 6. Sub Committee Reports: a) Golf - Firm b) General Recreation - Foster & Asmussen -Softball 7. Lacrosse Tournament - Jim Soran 8. Dobson Ice Arena Contracts (4) (see attached) - Erin Simpson 9. TOV/VMRD Agreement - First Addendum (see attached) 10. CML Golf Tourney (see attached) - Ron Phillips 11. Public Input/additional items 12. Approval of PO's 13. Adjournment ATTACHMENTS: Minutes, July 11, 1990 McMahan Armstrong & Associates - letter and audit Financial Report, June 30, 1990 DIA CONTRACTS Colorado Curling Vail Valley Foundation Ski Club Vail 1990 Scott Hamilton Christmas Party TOV/VMRD Agreement - First Addendum Phillips letter - CML Golf Tournament Follow Up Items - FYI FP Tennis Facility Final Walk Thru - FYI Mike Beckley letter - FYI Jerry Ford Invitational - FYI • Lacrosse - Johnson & Porter letter Fred Green letter - FYI _ ~II~WYiBS REaQLAR NESTING VAIL METROPOLITAN RSCREATIO~1 DIBTRICT JnLY 11, 1990 MEMBERS PRESENT: Ken Wilson, Gail Molloy, Colleen McCarthy, Lew Meskimen, Hermann Staufer MEMBERS ABSENT: None OTHERS PRESENT: Brian Jones CALL TO ORDER: The meeting was called to order at 3:10 PM. APPROVAL OF MINUTES:Iiermann Staufer made a motion to approve the minutes from June 27, 1990, second by Colleen, passed unanimously. FOLLOW UP ITEMS: Krueger will start landscaping at the tennis courts after the paving is completed by B & B. The rain has delayed B & B's starting time on the paving. SOS Rick Chastain stated the official art work has not been released yet from the production company. He included the SOS event on all Fourth of July posters and flyers and newspaper ads. GOLF COURSE ISLAND: Wilson said he signed the Second Amendment to Satch's restaurant. Brian spoke to Collins and he indicated there is very little or no change in VMRD's liability if they retake control of the island. Wilson also wants Brian to make sure VMRD is covered with insurance for this property. Brian said we are, but will double check it. SOFTBALL FIELDS Jim Sanders from the Vail Golf Club has the repair list prepared by Steve Foster. Jim will be starting the repairs shortly. Hermann indicated several soccer players are concerned by the condition of the athletic field since the Lacrosse game. Ben Krueger said that his crew aerified and • reseeded yesterday. SUB COMMITTEE ROLE: Hermann Staufer had requested this item. He wanted the board to reread the memo from Dodson and after the new Director is hired put this item back on the agenda in the Fall. JERRY FORD INVITATIONAL: Brian Jones stated there has been one correction to the contract since it was copied to the Board's packet - add July 30 as a donated day (total days donated, ~~,~y.~k.Y+. 'i.. July 28, 29, 30 and 31, 1.990). Bruce Fire asked if there were any practice round tee times to be given to the tournament on Thursaday and Friday. The Board and Jones indicated there would not be. Wilson suggested a letter be written to Barrett to make it clear there would not be any tee times available on those days. Ken Wilson is drafting a letter to Bob Barrett asking that in the future VMRD Board members be included in the tournament as recognition for their donation of the course for 4 days. Molloy made a motion to approve the contract for free practice rounds on Saturday and Sunday (July 28 & 29) and the use of the course ~~n Monday and Tuesday (July 30 & 31, 1990) , second by Hermann, glassed unanimously. LACROSSE TOURNAMENT: Wilson gave the Board a ~^eview of the VMRD meeting with the Lacrosse organizers last year. This meeting took place as a result of 'the Town Council voting not to hold the tournament in Vail. At that meeting the "Lacrosse players.explainecl why Fourth of July is the only date during which tree collegie players and the working players can attend this tournament. If the date would change, the tournament would have to .relocate. At this meeting several entities such as the police department, VRA and local businesses showed their support for keeping t:he tournament in Vail. The Tournament organizers also outlined their plans to keep order among the p1ayE:rs. Ken Huey, Vail police chief, stated that, in terms of trouble caused by the Lacz~osse player, 1990's event was greatly improved as compared to prior years. Each year the tournament is improving. There was some alcohol, vandalism and very few fights, but all of this would occur whether or not the tournament was here. Hermann expressed his concern regarding haw the Fourth of July experience in Vai:L has, changed from 5 years ago. The Board requested this item be put on the agenda when Foster returns. SUB COMMITTEE REPORTS: GENERAL RECREATION Laurie.Asmussen handed out posters for the Hot Summer Nights concert s3eries. They have distributed 750 posters. American Airlines has donated two, round trip ajar line tickets to Europe. Laurie filled ajar with M M's and will sell guesses for $1. This money will be Nsed to offset the costs • 'y Y.G of Hot Summer Nights. Laurie will be meeting with Holly Turner on Friday regarding Symphony of Sports. g~ of JtTLy Rick Chastain stated the final tally on costa are not in, but feel they will be within budget. When he compiles the figures he will forward the information to the Board. The street dance attracted 8,000-10,000 people consisting of families and age group. The petting zoo, VB/BBQ and childrens entertainment tent were all successful. Next year the committee will discuss moving the street dance to another location. Joanne Mattfo wanted Rick to stress the fact there was GREAT .cohesiveness between public works, the fire department and the police with the committee. The T-shirts worn by all the groups helped to bring everyone together for the same goal. Wilson asked that a thank you letter be sent to the editors of the newspapers and to Ron Phillips for the great job. Rick indicated these letters had already been written. KAYAK Chastain indicated the Kayak people are interested in pursuing future events in Vail. A VMRD representative may need to qo to Indianapolis. The Board wants the staff to continue negotiations with the group. If a trip is necessary they should return to the Board to ask for funding. GOLF Bruce Fins stated the green fees are $108,870, 1990 (vs $84,000, 1989) and cart fees are 32,406, 1990 (vs 27,400, 1989). The committee will hold off doing a promo plan with the hotels, pending further information on the next phase of the irrigation project . Bruce does not want to promote a program and then have the golf course half torn up with the irrigation project. The maintenance personnel will be dressed in the same shirts. Bruce felt that he needed authorization from the Board to spend the dollars for this unifona. Molloy moved to approve 100 shirts at $5 each, second by McCarthy, passed unanimously. Bruce is running out of score cards fast. He wants to order temporary cards from Eves Print Shop now. The Board would like Bruce to first get a quote from the regular score card company for cost and time. The Board authorized Bruce to order 5,000 cards from Eves to get him by in the meantime. NINE HOLE GOLF COURSE: Bruce Firm stated the sub committee feels this is a great site for a 9 hole golf course and it can be worked in harmoniously with the existing landscaping. f. ~ a Firm, Satterstrom and Jim Morter walked the land and feel 8 of the holes can be put in without aiming towards the highway or houses. Parking can be placed at the far, low end by th~a bus pick up. Jones stated the TOV has been waiting on preliminary information from VIrIItD. The figures compiled by Bruce which have been included in todaysipacket suffice for the Town's purpose of holding a public hearing on the land use. Wilson wants some information on how VMRD can finance the estimated $1,000,000. Jones isaid he will work with Firm to produce projected revenues and expenditures and determine fundi~nq capacity from operations. Meskimen wants to be sure the Highway Department is consulted regarding their requirements. This could be a significant cost factor. Firm stated he is planning for a 50 car parking lot. At the next golf sub committee meeting they will all walk the site and Firm encouraged all the Board members to attend. If they cannot, he will take them on i personal tour. Staufer wants Ron Phillips and the Town Council to receive a copy of the stajtement prepared by Firm on the par 3 golf course. The Board wanted to know why Firm bought the 4 radios. Firms said he bought 4 radios with chargers used for $2,000. They can be hookead up to the repeater, but they have the distance ca}ability of talking to the rangers, starter and shop. The old radios were broken and radios are essential to the golf operation. Hermann asked if items tihis large are not in the budget should Board approval be obtained first? Brian Jones indicated there is nc~ such policy on a per line item basis. The ultimate goal is the bottom line of each departments budget. Jones felt that Board approval is unnecessary and operatioially inefficient. Staufer made a motion that ,any item which exceeds $500 in the miscellaneous lima item should have prior approval of the Board, second by Molloy. Yes-Molloy, Staufer, Wilson & McCarthy No - Meskimen. POST SEASON GOLF RATES: McCarthy made a motion that on September 24, 1990~the 'Vail Golf Club go to a $25 green fee~to the hotels of i:he free recreation program and $35 to all others, second by Molloy passed unanimously. r ;.H.' . ~e S'. a~( a'. ~ 'i1 • ` BERRY CREEK RANCH: (additional item) McCarthy stated that later this week she and Wilson will represent VMRD at a meeting to discuss the purchase of this land. They will not be committing VMRD to any monetary amount at this time. TRINA JOHNSON: (additional item) Wilson asked if the Board wished to offer any donations as a Board to the Trina Johnson fund established at First Bank. Yes! Molloy made a motion to donate $500 to the Trina Johnson fund, second by Staufer. Yes-Molloy, Staufer, Wilson, McCarthy; No- Meskimen. APPROVAL OF PO'S: Meskimen moved to approve the Purchase orders, second by Molloy passed unanimously. ADJOURNMENT: The meeting was adjourned at 5:45 PM. Gail Molloy, Secretary S 1~~1CMAHAN, ARMS- t SONG Sz ASSOCIA~ 1 r~,S, P.C. Certdicd Public Accountants • Suite 207Nail Nati«ul Bank Building/108 South Ftattage RwdNail, Colorado 81657 •303.47(x2277 Board of Directors Vail Metropolitan Recreation District Vail, Colorado In planning and performing our audit of the financial statements of the Vail Metropolitan Recreation District, (the District) for the year ended December 31, 1989, we considered iu internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure. However, we noted certain matters that we consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the organization's ability to record, process, summarize, and report financial data consistent with the assertions of management in the financial statements. The District's internal control structure consists of policies and procedures established by management to provide reasonable, but not absolute, assurance that the financial data are recorded, processed, summarized, and reported consistent with the assertions embodied in the financial statements. In establishing those policies and procedures, management assesses their expected benefits and related costs. Because of the inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any assessment of the internal control structure to future periods is subject to the risk that policies or procedures may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. We noted the following reportable conditions: Gol f Starter sheets are not being reconciled to the daily sheets. The starter sheets should be reconciled in order to improve control over golf receipts. If the reconciliation is not feasible, the District should consider triplicating the receipt given to the player, with one copy kept at the pro shop, one at the starter shack and the third by the player. The starter shack receipts could be reconciled by the administration office to verify the daily sheets. Void golf passes were not kept. The void golf passes should be kept with unsold passes so sales can be verified. Professionals are allowed to ring their sales into the cash register used by the District and can also remove cash from the drawer. All monies from sales should be deposited with the District with a check then being issued to the Professionals for the sales due them. Donald J. McMahan, C.P.A. Andrew W. Armstrong, C.P.A. ~ Stephanie L. Novosad, C.P.A. Members of American Institute of Certified Public Acoountanu • Board of Directors Vail Metropolitan Recreation District Page 2 Tennis Professionals are allowed to ring their sales into the cash registers used by the District and can also remove cash from the drawer. All monies from sales should be dep~~sited with the District with a check then being issued to the Professionals for the sales due them. Cash Disbursements 49 of 50 purchase orders tested were not dated before the invoice date. The District should either require the purchase orders be signed before purchases aze made or change their purchase order policy to acknowledge that purchase orders are used as payment authorization only. Outdoor Ice Rink Ice rink revenues were netted against Nordic Center expenses before monies were submitted to the District. These transactions should be handled sepazately with gross; revenues deposited with the District and expenses paid through the disbursement system. No daily reconciliations of revenues were prepared for the Outdoor Ice Rink. The District should require daily reconciliations to be prepared. We noted that the District was correcting this problem in 1990. Dobson Ice Arena Special group rates aze not indicated on daily sheets. Special rates ;and proper authorization should be indicated on daily reconciliation sheets. Budttet The Budget was amended numerous times during the fiscal year. Irn. order for the Budget to be an effective management tool, it should not be amended except for unusual or infrequent items. General Several outstanding checks had been replaced with new checks without being voided. When replacement checks are issued, the old check should be voided. The District should review its procedures for reporting taxable compensation of the District's employees and the Board of Director to the Internal Revenue Service. Items the District should consider reporting that may be considered 'taxable compensation' are recreation passes, free use of recreational facilities, end of season bonuses and other bonuses. Board of Directors _ Vail Metropolitan Recreation District - Page 3 Violation of State Statutes The contractor that performed the construction on the Tennis Facility did not have a performance bond before work commenced. This may be a violation of State statute. We noted that the contractor acquired a bond that became effective on January 1, 1990. This report is intended solely for the information and use of the Board of Directors and others within the organization. We will be pleased to discuss the above matters with you. Very truly yours, VAC liua ~a v~ , Gi w~-~ s ~ ~ Q S ~oc?.~.~c S ' ~ . McMahan, Armstrong & Associates, P.C. June 15, 1990 r• Vail Metropolitan Recreation District Eagle County, Colorado Financial Statements December 31, 1989 r i • • Vail Metropolitan Recreation District Eagle County, Colorado - Financial Statements December 31, 1989 Table of Contents Page - Independent Auditors Report 1 Balance Sheet 2 Statement of Revenues, Expenses and Changes in Retained Earnings 3 Statement of Cash Flows 4 • Notes to the Financial Statements S - 14 Supplemental Schedules: Statement of Revenues and Expenses -Budget (Non-GAAP Basis With a Reconciliation to GAAP Basis) and Actual 15 r t. • i r-- ~ MCMAHAN, ARMSTRONG & ASSOCIA~ 1 ~,S, P.C. Certified Public Accountants • Suite 207/Vail Natwnal Bank Building/IOR South Frontage Road/Vail, Colorado 81657 •303-476.2277 INDEPENDENT AUDITOR'S REPORT Board of Directors Vail Metropolitan Recreation District Vail, Colorado We have audited the accompanying general purpose financial statements of the Vail Metropolitan Recreation District as of December 31, 1989 and for the year then ended, as listed in the table of contents. These general purpose financial statements are the responsibility of the District's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statemenu referred to above present fairly, in all material respects, the financial position of the Vail Metropolitan Recreation District as of December 31, 1989, and the results of its operations and cash flows for the year then ended in conformity with generally accepted accounting principles. Our examination was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The supplemental information is presented for purposes of additional analysis and is not a required part of the financial statements. The information has been subjected • to the auditing procedures applied in the examination of the financial statements of the District and in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole. ' McMahan, Armstrong & Associates, P.C. June 15, 1990 Donald f .McMahan, C.P.A. ~ . Andrew W. Armstrong, C.P.A. Stcphanic L. Novoaad, C.P.A. Members of Arrxrican Institute of Ccrtified Public Accountants 1 , Vail Metropolitan Recreation District ' Eagle County, Colorado Balance Sheet _ December 31, 1989 Assets: ' Current Assets: Cash 200,699 Accounts receivable 37,291 Due from Eagle County Treasurer 2,009 Due from Town of Vail 127 Prepaid expenses 26.088 Total Current Assets 266.214 Property taxes receivable 436.227 Equity in deferred compensation plan assets 20.417 ' Fixed Assets: . Plant/property 3,038,384 Equipment 822.348 Subtotal 3,860,732 v Less accumulated depreciation (1.151.006) • Total Fixed Assets 2.709.726 Total Assets 3,432.584 Liabilities and Fund Equity: Current Liabilities: Accounts payable 65,818 ' Deferred revenue 3,000 Deposits-events 17,100 Due to others 4,508 Accrued interest payable 770 Current portion long-term debt: General Obligation Bonds 60,000 Lease payable 1.946 Total Current Liabilities 153.142 Deferred property taxes 436.227 Deferred plan compensation -due to employees 20.417 Long-term debt: General Obligation Bonds 120,000 Lease payable 9.257 Subtotal 129,257 ' Less current portion (61.946), Total Long-term debt 67.311 Total Liabilities 677.097 r Fund Equity: ` • Contributed Capital, net of accumulated amortization 78,030 Retained Earnings: Unrestricted 2.677.457 Total Fund Equity 2.755.487 • Total Liabilities and Retained Earnings ~ 3._432.584 The accompanying notes are an integral part of the::e financial statements. 2 r~ ~ ' Vail Metropolitan Recreation District ' Eagie County, Colorado Statement of Revenues, Expenses and Changes in Retained Earnings For the Year Ended December 31, 1989 Operating revenues: Charges for services 1.753,594 Total operating revenues 1.753.594 Operating expenses: Cost of services 2,137,604 Depreciation 177.249 Total operating expenses 2.314.853 Operating (loss) (561.259) Non-operating revenues (expenses): Taxes 439,825 Intergovernmental 549 951 Miscellaneous 45,049 Interest (32,478) Total non-operating revenue (expenses) 1.002.347 Net income 441.088 Increase in Retained Earnings due to amortizarion of Contributed Capital 4.981 Net change in Unrestricted Retained Earnings 446,069 ' Retained earnings -beginning of year 2.231.388 Retained earnings -end of year 2.677.457 f ' The accompanying notes are an integral part of these financial statements. ' 3 r--~ • ~ Vail Metropolitan Recreation District Eagle County, Colorado Statement of Cash Flows For the Year Ended December 31, 1989 Cash Flows From Operating Activities: Cash received from customers 1,730,211 Cash paid for goods and services (1,169,237) Cash paid to employees (934.1301 Net Cash (Used) by Operating Activities I (373.1561 Cash Flows From Noncapital Financing Activities: Tax receipts collected by other governments 439,505 • Lottery proceeds collected by other governments 9,962 Cash subsidy from other governments 549.951 Net Cash Provided From Noncapital Financing Activities I 999.418 Cash Flows From Capital and Related Financing Activities: Cash paid for capital acquisition, construction, or improvement (269,789) Principal repayments (60,000) • ' Interest paid on principal (13,890) Cash paid for capital leases (353 264) Interest paid on lease/purchases (22.382) Net Cash (Used) by Capital and Related Financing Activities (719.3251 Cash Flows From Investing Activities: Cash received from interest on deposit accounts 35.087 Net Cash Provided From Investing Activities II 35.087 Net (Decrease) in Cash { (57.9761 Cash, January 1 258.675 Cash, December 31 i 200.699 . Reconciliation of Operating (Loss) to Net Cash (Used) by Operating Activities: • Operating (loss) (561.2591 ' Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation expense 177,249 (Increase) in accounts receivable (33,483) (Increase) in prepaid expense (6,958) ' increase in accounts payable 36,687 Increase in defen:ed revenue 3,000 Increase in deposits-events 7,100 . • Increase in due to others 4.508 Total adjustments 188.103 Net Cash Provided by Operating Activities (373.1561 The accompanying notes are an integral part of these financial statements. - 4 1 ~ . Varl Metropolitan Recreation Drstnct - Eagle County, Colorado Notes to the Financial Statements . December 31, 1989 1. ~ Summary of Sisrr?ificant Accounting Policies , . The Vail Metropolitan Recreation District (the District) is aquasi-municipal corporation organized and operated pursuant to provisions set forth in the Colorado Special District Act. The District was established to provide recreational facilities and services within its boundaries. The District is located in Eagle County, Colorado. The financial statements of the District have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental • Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the ' government's accounting policies are described below. A. Reporting Entity 1n evaluating how to define the District, for financial reporting purposes, management • has considered all potential component units. The decision to include a potential component unit in the reporting entity was made by applying the criteria set forth in GAAP. The basic, but not the only, criterion for including a potential component unit . within the reporting entity is the governing body's ability to exercise oversight responsibility. The most significant manifestation of this ability is financial interdependency. Other manifestations of the ability to exercise oversight responsibility include, but are not limited to, the selection of governing authority, the designation of management, the ability to significantly influence operations, and the accountability of fiscal matters. A second criterion used in evaluating potential component units is the scope of public service. Application of this criterion involves considering whether the activity benefits the government and/or its citizens, or whether the activity is conducted within the geographic boundaries of the government and is generally available to its citizens. A third criterion used to evaluate potential component units for inclusion or exclusion from the repomng entity is the existence of special financing relationships regardless of whether the government is able to exercise oversight responsibilities. Based on these criteria, the District does not exercise oversight responsibility over any • other entity, nor is the District a component unit of.any other governmental entity. • ~ B. Pronrietarv Fund Accounting The District utilizes a proprietary fund type known as an 'enterprise fund'. The • enterprise fund accounts for operations that are to be financed and operated in a manner where the intent is that the costs of providing goods and services to the general public on a continuing basis be financed or recovered primanly through user charges. C. Basis of Accounting The proprietary fund is accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of the fund are included in the balance sheet. Fund equity (i.e., net total assets) is segregated into retained earnings components. Progirietary fund-type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. . S r ' Vail Metropolitan Recreation District Eagle County, Colorado Notes to the Financial Statements December 31, 1989 ' The accrual basis of accounting is utilized by the proprietary fund type. Under~this method, revenues are recorded when earned and expen:>es are recorded at the time liabilities are incurred. D. Fixed Assets and Depreciation . The District adopted a policy during the focal year 198'7 to capitalize expenditures for plant property and equipment that exceed $500. Accordingly, all non-recovered assets less than $500 have been removed from the balance sheet. Depreciation on fixed assets is computed on the straight: line basis over useful lives ranging from five (5) to twenty-five (25) years. Depreciation is not provided on the cost of land improvements to the golf course because these :?re permanenti assets. Major repairs and maintenance costs are expensed in the year of the improvement. • E. Budgets and BudQetarv Accounting ' The District annually adopts a budget of anticipated revenues and expenses for the ensuing year as required by Colorado Statutes. The budget is adopted on a Non-GAAP and is reconciled to the GAAP basis below: (Deficiency) of Revenues Over Expenses: Non-GAAP Basis $(58,342) Adjustments: Capital outlay capitalized 265,044 Debt service principal 411,635 • Depreciation (177.249) Net Income • GAAP Basis $441.088 Budget Calendar ' As required by Colorado statutes, the District follows required timetables in preparing, approving, and enacting its budget for the ensuing year. The following is a summary of the budget calendar for the 1990 budget year: ' 1. For the 1990 budget, prior to December 15, the County Assessor sent to the • District a certified assessed valuation of all taxable property within the District's boundaries. _ 2. On or before September 20, the District accounta~it submitted to the District's Board of Directors a recommended budget which detailed the necessary property : taxes needed along with other available revenues to meet the District's operating requirements. i. 3. For the 1990 budget, prior to December 22, the District computied and certified to the County Commissioners a rate of levy that derived the necessary property taxes as computed in the proposed budget. 6 . • Vail Metropolitan Recreation District Eagle County, Colorado Notes to the Financial Statemenu December 31, 1989 4. After a required publication of 'Notice of Proposed Budget" the District adopted the proposed budget and an appropriating resolution which legally appropriated expenditures for the upcoming year. In 1989, this final step was to have been enacted prior to December 31. S. After adoption of the budget resolution, the District may make the following _ changes: (a) supplemental appropriations to the extent of revenues in excess of the estimated in the budget; (b) emergency appropriations; and (c) reduction of appropriations for which originally estimated revenues are insufficient. • 6. All appropriations lapse at year-end. Taxes levied in one year are collected in the succeeding year. Thus taxes certified in 1988 were collected in 1989 and taxes certified in 1989 will be collected in 1990. Taxes are due on January 1st in the year of collection; however, they may be paid in either one installment (no later than April 30th) or two equal installments (not later than February 28th and July 31st) without interest or penalty. Taxes which are not paid within the prescribed time bear interest at the rate of one percent (1%) per month until paid. Unpaid amounu and the accrued interest thereon become delinquent on August 1st. F. Encumbrances Encumbrance accounting, under which purchase orders, contracts, and other commitmenu for the expenditure of monies aze recorded in order to reserve that portion of the applicable appropriation, is not employed by the District because it is at present considered not necessary to assure effective budgetary control or to facilitate effective cash planning and control. G. Property Taxes Property taxes in the State of Colorado are assessed in one year as a lien on the property, but not collected by the government units until the subsequent year. In accordance with generally accepted accounting principles, the assessed, but not collected, property taxes have been recorded in the accompanying financial statements as a receivable and as deferred revenue. H. Prepaid Expenses • Paymenu made to vendors for services that will benefit periods beyond December 31, 1989, are recorded as prepaid expenses. I. Fund Equity Contributed capital is recorded in a proprietary fund that has received capital grants, contributions from developers, customers, or other govemmenu. Contributed capital is amortized over the estimated useful lives of the contributed assets. ' Vail Metropolitan Recreation District: Eagle County, Colorado Notes to the Financial Statements December 31, 1989 2. Cash on Deposit A. Legal Provisions and Authorization for Deposits The Colorado Public Deposit Protection Act (PDPA) requires that all units of local government deposit cash in eligible public depositories; ~:ligibi7ity is determined by state regulators. Amounts on deposit in excess of Federal insurance levels must be collateralized. The eligible collateral is determined by tree PDPA PDPA allows the institution to create a single collateral pool for all public funds. The pool is to be maintained by another institution or held in trust for all the uninsured public deposits as a group. The market value of the collateral must be ,at least equal to the aggregate uninsured deposits. At December 31, 1989, the District's cash deposits wereentirely insured or collateralized with securities held by the enrit}~s agents as described above and had bank balances of $249,080 of which $100,000 was covered by FDIC insurance and $149,080 was required to be collateralized in institutional pools. B. Reconciliation of Cash and Investments Cash on hand and in banks consists of petty cash, cash drawers, and checking accounts. Investments -Deferred Compensation Plan Assets represenu the Distri'ct's ownership of employee deferred compensation contributions and invesr:ed by the Inter City Management Association Retirement Corporation. Investments Cash on Deferred Hand and Compensation In Banks Plan Assets Cash on hand $ 1,500 Checking accounts 199,199 Deferred Compensation Plan investment pool 20.417 Total $200.699 20,417 C. Definition of Cash • For purposes of the cash flow statement, the District defines cash to be amounts on hand and in checking accounts. 3. Conservation Trust Fund Entit]ement As a result of the State of Colorado lottery, the District received $9,962 during 1989 based ' upon a formula considering population within the District The funds are restricted under the State Conservation Trust Fund statutes to acquisition, dev~elo~ment and maintenance of parks and recreation facilities. g Vail Metropolitan Recreation District _ Eagle County, Colorado Notes to the Financial Statements December 31, 1989 4. Summary of Fixed Assets A. A summary of fixed asset and accumulated depreciation at December 31, 1989 is as follows: Fixed Accumulated Net Fixed Assets Depreciation Assets " Plant and Property: Dobson Ice Arena $233,002 181,835 51,167 Tennis 278,238 236,159 42,079 Construction in progress -tennis 220,993 220,939 Golf 2,297,429 229,981 2,067,448 Other 8.776 3.938 4.838 Subtotal 3.038.384 651.913 2.386.471 ' Equipment: Dobson Ice Arena 133,186 96,615 36,571 . Tennis 18,138 12,269 5,869 Golf Course 617,735 359,097 258,638 Other 53.289 31.112 22,177 Subtotal 822.348 499.093 323.255 Total $3.860.732 1.151.006 2.709.726 B. A summary of changes in fixed assets for the year ended December 31, 1989: Balance Balance 1 1 89 Additions 12/31/89 Plant/properry: Dobson Ice Arena $233,002 233,002 ' Tennis 278,238 278,238 Construction in progress -tennis 220,939 220,939 " Golf 2,295,507 1,922 2,297,429 Other 8.776 8.776 Subtotal 2.573.745 464.639 3.038.384 Equipment: Dobson Ice Arena 133,186 133,186 Tennis 18,138 18,138 Golf 586,904 30,831 617,735 ` Other 53.289 53.289 Subtotal 605.042 217.306 822,348 Total $3,178,787 681.,945 3,860.732 9 r~ - Vail Metropolitan Recreation District . Eagle County, Colorado ` Notes to the Financial Statements December 31, 1989 5. Lonst-Term Debt The District had outstanding at December 31, 1989 $129,257 of debt principal related to a lease purchase agreement and general obligation bond indebtedness of which $61,946 was currently payable and $120,000 payable in future years consisting of the following: A. Covier Lease-Purchase Astreement On December 31, 1988, the District entered into alease-purchase agreement for a copier which has been capitalized at $10,886. The lease is annually cancellable with thirty • (30) days written notice. The lease details aze: 1. Monthly payments of $229, commencing February,, 1989 and ending January, 1994. Interest rate of 9.55% , 2. 'Purchase option of $1,088 at the end of the lease, or the remaining lease obligation anytime during the lease period. Principal Interest Total 1990 $1,946 800 2,746 1991 2140 606 2,74b 1992 2,354 392 2,746 1993 2,589 157 2,746 1994 228 1 229 . Total $9.257 1,956 11.213 B. General Obligation Bonds The District had outstanding at December 31, 1989 $120,000 of principal on general obligation bonds. The aggregate annual requirements to amortize the bond principal • and interest is as follows: Series December 1, 1974 Bonds, $450,000 original issue. Dated December 1, 1974, interest rates ranging from 7.65% to 8%; Due serially );~ecember 1, with June and December coupon dates. The following is the amortization schedule: Year Principal ]nterest Total 1990 $ 60,000 9,240 69,240 1991 60.000 4.590 64.590 ' Total $120,000 13 :830 133_830 10 • - Vail Metropolitan Recreation District ' Eagle County, Colorado Notes to the Financial Statemenu . December 31, 1989 ' Principal and interest requirements in the District's general obligation bonds are to be met through tax assessments on taxable property within the District. Operating revenue may also be used for principal and interest payments if tax collections aze not sufficient for this purpose. Under a resolution adopted by the Board of Directors, all receipts from property tax collections are required to be deposited into a separate bank account to be used for ' annual debt services. The property tax collections are not presently being deposited into a separate account. The District has adopted a mill levy to produce property taxes in excess of annual debt service and the excess is used to defray current operating expenses. 6. Defined Contribution Pension Plan The Town of Vail (the Town) offers a defined contribution pension plan which covers all permanent paid employees for the Town and the District. In a defined contribution plan, ' benefits depend solely on amounts contributed to the plan plus investment earnings. Employees are eligible to participate in the plan from the date of employment or the effective date of the plan, January 1, 1983, whichever is later. The plan provides for contributions to . be made by the District of 12.6% of regular compensation for the fast year of employment and 17.6% thereafter. For employees hired after April 1, 1986, the District's contribution is 11.15% of regular compensation for the first year, and 16.15% thereafter. Employees have the option to make voluntary contributions of 10% of their compensation. In the event of long-term disability of an employee, the District's disability insurance will continue to make contributions for the employee through age 60 at the rate on the date of disability. For employees hired before July 1, 1986, vesting of the District's contributions to the employees is 77.5% after the first year of employment with an additional vesting of 7.5°Y6 per year through the fourth year, when vesting is 100%. For employees hired after June 30, 1986, vesting of the District's contributions to the employees is 20% after the first year of employment with additional vesting of 20% per year through the fifth year, when vesting is 100%. if an employee dies, becomes disabled, or attains age 60, their entire interest in the fund becomes vested; normal retirement age is 60 with early retirement at age SO and four ' years of service. The annual pension cosu is the District's contributions less forfeitures from the prior year. The plan's investments at December 31, 1989 of $5,027,074 are stated at market value. All earnings, losses, expenses and changes in the fair market value of the trust fund will be apportioned at least annually among the participants in proportion to each participant's current share of the Trust Investment Fund. The District has no liability for unfunded future ' vested employee benefits. The trustees of the plan are the Town Manager, Town Attorney, Town Administrative Services Director, one representative from the Town Police and Fire Departments, and the District Business Manager. Two plan administrators are elected by the trustees and at December 31, 1989 were the Town Attorney and Town Administrative Services Director. The . plan trustees determine how the plan assets are to be invested in adherence to an adopted investment policy statement. The plan is reported in the financial statements of the Town of Vail, Colorado. 11 - - Vail Metropolitan Recreation District . Eagle County, Colorado ~ _ Notes to the Financial Statements December 31, 1989 The total amount of the employees' current year covered payra~ll was $500,664, with a current year payroll total of $924,348. Changes in fund balance for the Town's and District's employee pension plan are as follows: 12/31/89 Balance, January 1 $5,435,771 Additions: Employee contributions 14,930 Employer contributions 764,906 Interest and dividend income 453,409 Gains realized 341,930 Unrealized gains on market value of investments 295.931 Total Additions 1,871,106 Deductions: Benefits paid 183,901 Professional fees 100.910 Total Deductions 284.811 Balance December 31 $7.022.066 Investmenu of the plan are valued and accounted for at mark~:t value. The District's required and actual contributions to the Plan were $88,117, with employees contributing $1,620. The District's contributions represent between 12.6% and 17.6% of covered payroll. See paragraph 1 for description of contributions. 7. Deferred Compensation Plan The District offers its employees a deferred compensation plan. created in accordance with • ~ Internal Revenue Code Section 457. The plan, available to all District employees, permits . them to defer a pomon of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) :solely the property and rights of the District (without being restricted to the provisions of benefits under the plan subject only to the claims of the District's general creditors. Participant's rights under the plan are equal t:ho those of general creditors of the District in an amocint equal to the fair market • • value of the deferred account for each participant. The District has the duty of due care that would be required •of ~ ordinary prudent investor. The District believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. 12 , • Vail Metropolitan Reueation District . ' Eagle County, Colorado - Notes to the Financial Statements December 31, 1989 8. Manartement Agreement The District has a management agreement with the Town of Vail (the Town) which provides budgeting and accounting, general administrative and computer services to the District. The fee for these services was $38,581 in 1989. On January 24, 1988, the Town transferred management and the related revenue and ' operating costs of operations of all recreational services of the Town to the District. The agreement includes a license for the District to use the recreational facilities owned by the Town. The District is to pay all operating costs of the faciities. The agreement also provides that the Town will transfer all personal property and vehicles for use during the lease. The District is to maintain this equipment. The Town is responsible for the debt service on the facilities. The Town has agreed to contribute to the District a sum of . $522,358 for 1989 and $543,243 for 1990, at which time the District will hold an election and submit a mill levy increase to the authorized voters of the District. Should the mill levy increase be approved, the Town shall take all steps necessary to reduce its mill levy. The agreement with the District shall terminate on December 31, 1993, unless terminated by breach of contract by either party. 9. Segment Information The required segment information is disclosed in the financial statements. 10. Vacation and Sick Pav Benefits The District has a policy allowing the accumulation of vacation and sick leave pay up to certain maximum limits. The sick leave pay is partially insured by an independent insurance company. Vacation pay has not been reflected in the attached statements because it does not vest. Vacation and sick pay are approximately $52,052 and $134,977 at December 31, 1989. 11. Golf Course Land Lease The District entered into two (2) leases, effective May 27, 1966 with private parties to acquire the related ground rights for use as a public golf course. The terms of these leases run for forty-nine (49) yeah from inception. Subsequently, on January 11, 1984, the Town of Vail purchased the leased land from the original lessors. As a result, the Town of Vail a assumed the original lessors' rights in the .leases with the terms and conditions remaining essentially unchanged. Lease paymenu made to the Town of Vail were $70,000 in 1989 ' with subsequent payments to be negotiated on an annual basis. r. • 13 ' ~ Vad Metropolitan Recreation District Eagle County, Colorado Notes to the Financial Statements December 31, 1989 . 12. Commitments and Conrinsrencies Legal Claims During the normal course of business, the District incurs claims and other assertions against it from various agencies and individuals. Management of the District and their legal representatives feel none of these claims or assertions are significant enough that they would materially affect the fairness of the presentation of the financial statements at December 31, 1989. 13. Violation of State Statutes The contractor for construction of the Tennis facility did not have a performance bond in effect when work began on the Facility. This may be a violaticm of State statute. The . performance bond was obtained and became effective January '1, 1990. 14. Subsequent Events A. Tennis Facility Lease Purchase On January 10, 1990, the District entered into alease/purchase agreement on the tennis facility with GELCO Finance Corporation. The agreement is for $250,000 with 12 quarterly payments of $23,687 beginning May 22, 1990 and ending Febiuary 22, 1993. B. Refund of Town of Vail Contributions On April 20, 1990, the Board voted to refund $25,000 of the Town of Vail's 1989 operating contribution. See Note 8 for further explanation. of operating agreements and . Town of Vail operating contributions. • 14 Veil Metropolitan R~~,:~.tion Drstrirt ' Eagle County, Colorado • Statement of Revenues and E..r ;...ses Budget (Non•GAAP Basis With Recoru.rliation to GAAP Basis) and Actual For the Year Ended D..;:...,ber 31, 1989 Variance Favorable Revenues: Budget Actual (Unfavorable) Taxes: General property taxes 411,000 416,344 5,344 Specific ownership taxes 16,000 20,510 4,510 Delinquent taxes and interest 5.000 2.971 f2.029~ Total Taxes 432.000 439.825 7.825 Intergovernmental Revenues: ' Town of Va~7 contzact/subsidy 527,433 538,068 10,635 Other Town of Vad payments 11.883 11.883 Total Intergovernmental Revenues 539.316 549.951 10,635 ' Charges for services: General recreation programs 211,160 205,672 (5,488) Nature center 6,000 6,997 997 Potpourri 28,000 33,945 5,945 Youth center 8,400 14,414 6,014 Dobson ice arena 463,130 462,163 (967) Golf 1,005,150 989,772 (15,378) Tennis 280,800 33,819 (246,981) Miscellaneous 16.000 6.812 (9.188) • Total Charges for Services 2.018.640 1.753.594 (265.0461 • Other revenues: Interest 5,600 35,087 29,487 Proceeds from Conservation trust 8.270 9.962 1.692 Total Other Revenues 13.870 45.049 31.179 Total Revenues 3.003.826 2.788.419 (215.4071 Expenditures: Cost of services: General recreation programs 191,755 209,880 (18,125) Nature center 49,258 45,531 3,727 Potpourri 28,200 29,513 (1,313) General recreation overhead 92,859 94,384 (1,525) Youth center 136,506 141,429 (4,923) Dobson ice arena 597,930 573,193 24,737 Tennis 546,179 296,494 249,685 Aquatic center 36,500 35,418 1,082 General administrative 452,380 438,364 14,016 Golf Course: Course maintenance 305,559 296,272 9,287 Equipment maintenance 78,700 50,370 28,330 Clubhouse operations 188.961 196.545 (7.584) Total Cost of Services 2.704.787 2.407.393 297,394 Debt Service: Principal 412,051 413,264 (1,213) ' ' Interest 35.573 32.478 3,095 Total Debt Service 447.624 445.742 1.882 Total Expenditures 3.152.411 2.853.135 299.276 (Deficiency) of Revenues Over E..,.:...ditures (Non-GAAP Basis) 164.716) ' Reconcr7iation of Budges Basis to GAAP Basis: ~ Capital outlay 269,789 Debt service 413,264 Depreciation f 177.2491 Net Income (GAAP Basis) 441,088 The accompanying notes aze an integral part of these fu~anc~al statements. 15 VAIL METROPOLITAN RECREATION DISTRICT FINANCIAL REPORT FOR MONTH ENDING JUNE 30, 1990 REVENUES AND EXPENDITURES BUDGET-ACTUAL ................PAGE 1 - 3 JUNE 30, 1990 SCHEDULE OF GENERAL RECREATION REVENUE & EXPENSES......PAGE 4 SCHEDULE OF ICE ARENA REVENUES & EXPENSES FOR PROGRAMS & ICE RENTALS ........................PAGE 5 SCHEDULE OF ICE ARENA REVENUES & EXPENSES FOR SPECIAL EVENTS ................................PAGE 6 CASH S1JNII~iARY ...........................................PAGE 7 r Vail Metropolitan Recrestion District PG 1 Revetxxs and Experditures BudBet-Aetual Month Ending JUNE 30, 1990 CUR PER CUM YTD CUM YTD X Of 1990 1990 REVISED JUNE 90 JUNE 89 JUNE 40 BUDGET BUDGET 90 BUDGET Golf Reverwes Golf passes 23,850 96,240 98,085 87.9 111,600 111,600 Green fees 93,768 128,552 137,070 21.1 650,000 650,000 Cart rentals 30,179 42,388 42,%1 27.1 157,000 157,000 Clubhouse lease 8,250 19,250 19,250 58.3 33,000 33,000 Net Range 0 0 0 0.0 12,000 12,000 Total Reverxu 156,047 286,430 297,366 30.9 %3,600 %3,600 Golf Expenses Golf Course Maintenance 35,816 149,281 126,044 40.7 309,426 309,426 Equipment Maintenance 12,029 31,093 37,586 64.9 57,900 157,900 Clubhouse Operations 42,344 74,398 95,234 42.9 221,758 225,158 Total Expenses 90,189 254,772 258,864 43.9 589,084 42,484 Golf Reverxx Over (Under) 65,858 31,658 38,502 10.3 374,516 371,116 Expenses sssssaassassaaassaaaasassessssasassaasasssasasssra:;sxssaaaa:saassa:asassa Terris Reverxx 5,828 9,027 6,590 18.8 35,100 35,100 Terris Expenses 16,652 27,910 23,764 30.8 77,259 77,259 Terris Reverwe Over (Under) i....... Expenses (10,824) (18,883) (17,174) L0.7 (42,159) 42,159) ccsea.ssasaasssasaxasaaasa asssassaaa_ _ =snssassns.asassasssssass`saassss I ice Arena Revenues 63,152 228,960 203,632 1 36.6 556,830 156,830 Ice Arena Expenses -__--.57,032.----.316;126-..••-242:689 1 •-.36:6.•---.662:728.•--•-~2~T28~ Ice Arena Revenue Over (Under) Expenses 6,120 (87,166) (39,057) 36.9. 1105,898) (tI05,898) saaaaaxaa:aasaasaaa.aa.aa...asssasacsaasaaaas...aa::~ssasaasss====I=a.asas Gen Rec Reverxus 41,096 124,769 %,602 38.6 250,530 250,530 Gen Rec Expenses 58,880 169,422 218,Sib 40.6 537,b42 SI ,142 I General Rec Revenue Over (Under) Expenses (17,784) (44,653) (121,914) 42.5 1;287,112) (293,612) sssssssssassaaxsasaaassasasssasrssaa~....`_sssaasaaasa::sasasssssssasaa:sa:as PO 2 CUR PER CUN YTD CUM YTD X of 1490 1490 REVISED JUNE 90 JUNE 84 JUIIE 90 BUDGET BUDGET 90 BUDGET Other Expenses: VMRD Administration 41,661 202,028 207,204 49.2 420,900 450,150 Aquatic Center O 7,%5 0 0 Park Maintenance 1,556 3,683 12.6 29,182 24,182 43,017 202,028 218,852 48.6 450,082 479,332 Totat Operating Reverxx Over (Under) Expenses 353 (321,072) (358,495) 70.2 (510,735) (544,885) maeaesaaemao:=aaaaesaaamzaeaeeaseseacme=seaaaeeaaaeeseeaseezaeeeaaseesaesm Non Operating Revenues Interest Income 4,509 12,056 10,435 54.7 20,000 20,000 Town of Vail Contract 0 203,543 178,826 32.9 543,243 543,243 Other TOV Payments 0 0 0 0.0 24,000 24,000 Property/epee own taxes 132,522 314,653 323,216 71,5 451,425 451,925 lottery proceeds 0 0 2,457 47.3 5,200 5,200 Misc Revenue 1,251 3,400 3,177 33.4 4,500 22,000 138,282 533,702 518,611 49.2 1,053,868 1,066,368 Non Operating Expenses Debt Service 0 157,061 28,492 12.0 238,374 238,374 Net Non Operating Revenue 138,282 376,641 490,114 60.1 815,444 827,494 ssameaeeeaseesee-aaeeaceseosaaaeaeeeaeesaeecaasaeseaaeaasassexeaaemaemmmaa PG 3I CUR PER CUM TTD CUM YTO X of 1990 1990 REr JUNE 90 JUNE 89 JUNE 90 BUDGET BUDGET 90 1 ........... ........... ........... ........ ............ .... Capital Projects ISED Loan Proceeds-tennis constr 0 250,000 0 0 Capital Outlay Golf Course improvements 55,040 3,803 77,328 3 46.7 165,708 1 65,708 Ford Park Tennis Courts 69,087 14,975 239,699 0 58,320 Running Track 0 0 0 0 Dobson Water Neat Exchg 0 0 0.0 9,000 9,000 Dobson Neat Exchanger 0 0 0.0 17,000 0 Dobson Rinktex Floor Repl 0 0 0.0 15,000 15,000 Golf Carts-Cap Res Accrual 3,000 18,000 51.4 35,000 35,000 Dobson-lamb/Refrig Cap Res 742 4,452 50.0 8,896 8,896 Net Capital outlay 127,869 18,778 89,479 35.7 250,604 •2 91,924. Total Revenue Over (Under) Expenses 10,766-- -- 36,791 42,145 77.8 54,155 (13,815) ------------- Beginning Fund Balance 1/1/90 91,149 Ending Fund Balance 6/30/90 133,294 =sssasasaaa Budgeted Fund Balance 12/31/90 91,149 91,149 ......................... 1 145,304 77,334 Schedule of 1990 General Rst Revenues i Expenses PG ~ Month EncllnB JUNE 30, 1990 REVENUES EXPENSES ACTUAL PERCENT ACTUAL PERCENT MET REV BUDGET Ctas YTD YTD BUDGET Cue TTD TTD OR <LOSSa GEN REC PROGRAMS VOLLEYBALL TOURN 510,750 (7,388 68.7 !6,340 !6,852 108,1 1536 SOfTBALI LEAGUES (30,000 (24,425 81.4 !28,253 (8,495 30.1 (15,930 SOFTBALL TOURNAMENT !14,300 (2,445 17.1 !11,138 51,185 10.6 f1, 260 SOCCER LEAGUES !3,950 52,%1 75.0 (5,225 !398 7.6 52,563 SOCCER CAMP 565,800 !19,300 29.3 (60,350 !13,850 22.9 55,450 FOOTBALL CAMP 5880 50 0.0 5880 f0 O,0 f0 BASKETBALL CAMP 11,050 1210 20.0 1750 5245 32.7 (535) VOLLEYBALL CAMP 52,800 !1,625 58.0 !1,650 5758 45,9 5867 SPECiAI PROGRAMS (10,500 1220 2.1 (12,250 !14,000 114.3 (513,780) GEN REC RACES !10,000 (1,568 15.7 (7,970 i2, 170 27.2 (5602) !150,030 (60,142 40.1 (134,806 547,953 35.6 512,189 RED SANDSTONE PROGRAMS OPEN GYM (1,800 !1,559 50 50 51,559 SOCCER 1800 1830 103.8 1570 f579 101.6 5251 BASKETBALL (4,800 !1,280 26.7 52,400 !1,204 50.2 176 VOLLEYBALL 52,880 (1,290 44.8 !1,000 5882 88.2 1408 AFTER SCHOOL (8,300 !4,451 53.6 !1,650 1320 19.4 (4,131 GYMNASTICS f13,200 56,178 46.8 516,320 (5,389 33.0 5789 GYMNASTICS CAMP 520,000 50 0.0 517,390 534 0.2 (534) !51,7'80 (15,588 30.1 !39,330 58,408 21.4 !7,180 POTPOURRI CAMP !33,520 114,1% 42.4 !33,518 (12,383 36.9 (1,813 OUTDOOR ICE RINK 50 i3, 113 50 f7,077 (53,964) NATURE CENTER !7,000 5337 4.8 560,609 515,025 24.8 (514,686) GEN REC OVERHEAD/MISC 5117,663 !65,790 55.9 (565,790) sasaesasssess=ssssssrssosases¢so_ sssaasssssas:essasssnssszsassssasxssass 1242,330 f93,376 38.5 5385,926 5156,634 40.6 (563,258) YOUTH CENTER 58,200 (3,226 39.3 5151,716 (61,882 40.8 (558,656) (250,530 f96,602 38.6 5537,642 !218,516 40.6 (5121,914) sssssaassssssessesssssseossss:sssssssssssss___ assssss =saassssssasssasss Schedule of 1990 Ica Rink Revenues i Expenses PG S Programs and Lee Rentals Month ErdinB JUNE 30, 1990 REVENUES DIRECT EXPENSES ACTUAL PERCENT ACTUAL PERCENT MET REV BUDGET Cum YTD YTD BUDGET Cum YTD YTD OR <LOSS> PUBLIC SKATING PASSES =5,400 5517 9.6 GUEST FEES 540,000 125,108 62.8 SKATE RENTAL (15,000 (9,868 65.8 560,400 (35,493 58.8 535,493 FIGURE SKATING SCHOOL 581,000 566,234 81.8 639,800 517,816 44.8 648,418 SKATING CLASSES 55,0(10 14,609 92.2 (5,000 53,600 72.0 51,009 JR HOCKEY 519,000 5540 2.8 51,100 SO 0.0 5540 LADIES ROCKET 55,000 5587 11.7 5587 HENS HOCKEY 59,000 53,776 42.0 10 l13b 53,640 SKATING CLUB OF VAIL (18,000 (9,272 51.5 59,272 SUMMER HOCKEY CAMPS 528,750 530,335 105.5 517,375 (14,548 83.7 515,787 EAGLE COUNTY SCHOOL 52,500 5178 7.1 5178 CONCESS i VENDING 565,000 520,137 31.0 144,338 513,745 31.0 56,392 SKATE SHARPENING 52,000 51,348 67.4 51,348 LOCKER REVENUE f1,S00 5441 29.4 5441 RINK RENTAL 528,080 51,465 51,465 HOUSE SERVICES 56,000 51,292 51,292 5331,230 =175,707 53.0 5107,613 549,845 46.3 5125,862 SPECIAL EVENTS (Sec Page 6.) 5221,600 524,220 10.9 5161,608 57,751 4.8 f1b,469 5552,830 5199,927 36.2 5269,221 557,596 21.4 5142,331 D08SON OVERHEAD/MISC 54,000 53,705 92.6 5393,507 5185,093 47.0 (5181,388) seeeeaw-a.ae.assasa=ao..xae.neeseeceoe...=e.eo.z.a..ooaaz..eeecs.ss=oa:s 5556,830 1203,b32• 36.6 Sb62,728 5242,689 36.6 (539,057) Scheduta of 1990 Special Event PG 6 Revenues and Expenses Month Ending JUNE 30, 1990 REVENUES DIRECT EXPENSES ACTUAL PERCENT ACTUAL PERCENT MET REY EVENT DAIS BtAGET Cum 1'TO YTO BUDGET Cum TTD YTD OR <LOSS> NBO Show 4 14,800 56,265 130.5 11,867 14,398 Vail Rocks 1 (2,500 (2,500 100.0 :2,500 American Ski Classic 1 52,500 50 0.0 50 Nall i Oates Concert 1 f0 f1, 500 (1,500 Volleyball Tournament 2 (2,400 12,000 83.3 579 fi,921 No Check Tournament 4 54,800 52,535 52.8 12,535 Future Bus Ldrs of Amer 2 50 (6,000 (6,000 Symph of Sports 7 591,000 50 0.0 592,585 1685 0.7 (5685) PSGA 2 52,400 11,920 80.0 567 51,853 Figure Skating Comp 4 54,800 50 0.0 50 Kent Feeds Ice Show 1 52,500 f1, 500 60.0 51,500 Ice Oance Weekend 3 53,600 50 0.0 50 Yorld Vide COG 9 59,600 f0 0.0 f0 Ski Swap 3 53,600 f0 0.0 50 YJN Tournament 4 54,800 50 0.0 50 Kraft Yestman 3 57,500 50 0.0 f0 Nutcracker 4 54,800 50 0.0 f0 Christmas Show 4 570,000 t0 0.0 552,817 50 0.0 50 New Year's Eve 1 50 f0 f0 Spec Event Overhead 516,206 55,053 31.2 (55,053) 5221,600 524,220 10.9 5161,608 57,751 4.8 516,469 i PG 7 Vail Metropolitan Recreation District Cash fumisry North Ending JUNE 30, 1990 NOY Payroll Account Account Total Bap Balance 6/01/90 1214,107 (f39,302> 1174,805 Receipts 1345,%5 1239,970 1585,935 Disbursements (1425,307) (1250,675) (5675,982) Ending Balance 6/30/90 1134,765 (550,007) 184,758 • MOTE: This excludes a capital reserve of 185,852. FINANCIAL REPORT FOOTNOTES - JUNE 1.) Dobson Arena revenues and expenditures are substantially below 50$ of budget (halfway into the year) primarily due to the Christmas show and Symphony of Sports occurring during the latter half of the year. 2.) June payment was received in July. 3.) Final payment to Duddy-Viele is scheduled for Thursday, August 9. Total contractors fees will be $369,090 plus change orders of $2,957. JERRY FORD INVITATIONAL 'r BALANCE SHEET DECEMBER 31, 1988 ASSETS CASH CASH IN BANK-CHECKING 8,293.91 CASH IN BANK-INVESTMENT ACCT 1,153.86 TOTAL CASH 9,447.77 RECEIVABLES ACCOUNTS RECEIVABLE 1,175.00 TOTAL RECEIVABLES 1,175.00 CAPITAL ASSETS EQUIPMENT 4,567.00 ACCUM DEPRECIATION-EQUIPMENT (4,567.00) .00 TOTAL CAPITAL ASSETS TOTAL ASSETS 10,b22.77 EQUITY RETAINED/EARN/ACC INCOME 5,538.92 RETAINED EARNINGS - PRIOR. (2,702.73) CURRENT YEAR EARNINGS 7,786.58 TOTAL EQUITY 10,622.77 TOTAL LIABILITIES AND EQUITY 10,622.77 sa, ' . tr UNAUDITED FOR INTERNAL MANAGEMENT PURPOSES ONLY 'y'`~ . JERRY FORD INVITATION,P?L INCOME STATEMENT FOR THE PERIOD ENDING DECEMBE:Et 31, 1988_ • PERIOD TO DATE YEAR TO DATE ACTUAL PERI:ENT ACTUAL FERCENT REVENUE ENTRY FEES-NATIONAL 15,000.00 411.1 247,500.00 50.5 ENTRY FEES-LOCAL 675.00 :1.9 24,600.00 5.0 SPONSORSHIPS 34,000.00 9:1.2 177,250.00 36.2 DIRECT DONATIONS .00 .4 8,000.00 1.6 SALES-CONCERT TICKETS (9,507.38) (2Ei.1) 11,991.38_ 2.4 SALES-GALLERY TICKETS (3,933.80) (111.8) 16,771.30 3.4 SALES-MEMENTOS .00 .0 1,370.00 .3 EXPENSE REIMBURSEMENTS .00 .0 563.07 .1 INTEREST INCOME-INVESTMENT ACC 241.55 .7 1,682.64 .3 TOTAL REVENUE -----36,475.37 lOt?.0 489,728.39 100.0 GROSS PROFIT 36,475.37 10Ci.0 989,728.39 100.0 EXPENSES ADVERTISING & PROMOTION .00 .0 4,378.48 .9 CHARITABLE PLEDGE PAYMENTS 45,000.00 123.4 62,150.00 12.7 INSURANCE .00 .0 6,295.20 1.3 MAINT/REPAIR-COPIER SVC AGRMNT .00 .0 370.00 .1 OFFICE EXPENSES (19.72) (.1) 906.72 .2 OPERATING EXPENSES (15.00) .0 72,499.39 14.8 OUTSIDE SVCS-CONSULTANT FEES 9,000.00 24.7 39,000.00 8.0 OUTSIDE SVCS-CONSULTANT-MEYER .00 .0 9,000.00 1.8 OUTSIDE SVC5-TRANSPORTATION .00 .0 6,203.59 1.3 POSTAGE & FREIGHT 6.38 .0 665.33 .1 PRINTING/ENGRAVING .00 .0 3,312.14 .7 PROFESSIONAL SERVICES .00 .0 6,500.00 1.3 PURSES AND AWARDS .00 .0 40,160.02 8.2 RENTAL OF EQUIPMENT .00 .0 815.00 .2 RENTAL-COMPUTER 836.94 2.3 3,626.74 .7 SALARIES-STAFF .00 .0 1,275.00 .3 SPONSOR AND PLAYER INCENTIVES .00 .0 216,029.73 44.1 T~~C~rS, AND LICENSES .00 .0 116.00 .0 TELEP~EIONE EXPENSE 96.98 .3 7,b93.19 1.6 VEHICLE COLLISION REPAIR .00 .0 945.28 .2 54 905.58 150.5 ~ 481,941.81 98.4 TOTAL EXPENSES NET IIJCOME (LOSS) (18, 430.21) ( 50.5) 7, 786.58 1.6 UNAUDITED FOR INTERNAL MANAGEMENT PURPOSES ONLY JEKAY FOfZU INVITATIp~IAL OiA12ITABLE CCNTKIBUTIO~I'i 1977-1983 Ct1ARITY 1977 1978 1979 1980 1981 1942 1983 wb total Eagle Canty Scholarship 10,000 10,000 5.000 5,000 7,000 5,000 7,000 49,000 V~11 Ir~atituts 5,000 5,000 5,000 5,000 5,000 5,000 5,000 35,000 Vail Valley M~dieal Gntsr 5,000 10,000 5,000 10,000 3,000 2,000 2,000 37.000 Ve11 Mantain „il 2.500 5.000 2,500 3,000 3,000 2,000 3,000 21,000 Playing spot auction 3,900 3,900 VN1 ti~11p1aua Fandatian 1,500 1.500 500 500 500 500 1,000 6,000 Eapls Yel7ay Can~unity Fund 1,500 1,500 yail Ski l4raa~/n 1,000 500 500 500 500 1,000 4,000 Colorado I+kxntain Col laps 1, 000 SUO 1, SOU Ford Anphithastrs 5,000 1,000 2,000 3,000 3,000 14,000 8. Osvis Children's Farad. 1,000 2,000 3,000 3,000 ~,UUU 13,000 Playing spot auction 2,ti75 2,000 4,675 Batty Ford Cs~tsr 1,000 2,UOn 3,000 3,000 4,000 13,000 Ski Club Vsil ~ 1,000 1,000 1,000 1,000 1,000 5,000 ~y ~ ~ae~~ sou 500 1, ono 1, non 1, ono a , o00 Gores Vally Prsssrvatian 250 500 500 500 1,750 Eap'IS Vally Arts Council '250 250 2SU 250 1, ODU yai 1 Mc~ntein Fasaaw 1, 500 1, UUO 1, 750 4 , 250 TIC L~arninp Tree SUO 5UU SUO 1,500 Vail Usw is, . ..al Cer?tsr 1, 000 1, UUO 2. UUU 4 , 000 To.n of Vai~) Rac. kloerd 2.893 '1.893 Vsil Youth Grater - 1,000 SUO 1,500 , ABC Child»n's Kiy 250 500 750 , w Vei 1 fiupby Club ~ SUO w 500 iA Veil Nocrvy Glub ~ 5UU 250 750 , e Tha Kainbnw School 250 250 Monss+'s Rssouros lantar ~ SUU sou Awiariean Nod Cras:-E,agla soo soo Vail Slmting Club ~ SOU 5U0 Jieny F{apa C 0 W11 ?i ,ium U Eagl• Cw?ty Fism Radio U Blind Skiars Rsid U Battl• Pht. Miph School U J. Dobson Rectory Fund U TO'V-Boftbell Fisld Sodding U Mantain Tots Pro School U Sslwtian Army U Crystwl Ball-playing spot U Junior Golf Association U EchD Ranch 0 B.awr C+wk Chspal U Alpirr Grrds» U Jahn Elway Foundation 0 8. Youth Foundatim U Battl• Manta in Youth 8assball ~ 0 M1ami ProJact U Brave Colorado U TOTAL 25,SUU 33,5UU 27,000 31,000 35,643 38,075 42,5UU 233,219 '.w ` A M • • 1984-/1188 1977-1963 ' CiiARItY 1984 1985 1886 1987 1988 sub cotal• TO1"AL Eagles Canty Scholarship 10,000 10,000 8,000 7,500 20,000 49,000 104,500 Vail lnstitvta _ ~ 3,000 4,000 3,000 35,000 45,000 Vail Vally Msdical C~ ~ 1,000 1,000 500 2,000 37,000 41,500 W11 14antain C_:_-1 3,000 1,000 SOU 2,000 21,000 27,500 Playing spot auction 2,400 3,900 6,300 Vail Asligious fa ...ian 500 500 250 ~ 500 ti,000 7,750 Eagl• V~lly caswv~ity Fund ~ 1,500 1.500 Vail SM Muwsn 1,000 1,000 1,000 500 1,000 4,000 8,500 Colorado Mantain Collage 1,500 1,500 Ford Asphithsstra 5,000 7,500 20,000 14,000 16,500 OMs Childnsn's Far~datian 4,000 13,000 17,000 Playing spot auction 2,300 2,700 4,ti75 9.675 BittY Ford Gntar 4,000 3,000 1,500 3,000 13,000 24,500 SM Club Vail 1,000 1,500 1,000 5UU 1,500 5,000 . 10,500 Qty mow' VaP+s 1,000 1,500 1,000 500 1,500 4,000 8,500 Gbrs Villy action 500 500 250 1,750 3,000 Fagl~ Vally Arts Cas~cil 250 500 150 150 500 1,000 2.550 Vatl Mountain Raswa 2,500 2,500 1,500 1,000 2,000 4,250 13,750 Ths Lsamiep Tras 500 500 250 250 500 1,500 3,500 Vail Davsl.., ,sl Csntar 3,000 3,000 2,500 1,000 3,000 4,000 16,500 Torn Of Viil Rae. Board 2,893 2,893 Veil Youth Canter 500 1,000 750 5UU 1,000 1,500 5,250 A9C Children's Acre 500 500 250 250 500 750 2,750 Va11 Rugby Club 500 500 ~ 5UU '1,500 Vail ~k/y Club 750 750 ~ Ths Rainbow 5„1.....1 ~ 250 ~ . 750 ~ '~s Reeauroa ~%a^tM' 1.000 1,000 750 500 2,500 500 M ti,250 Awsrican Rad Crass-Eagles 500 ~ SOU 1,000 VQI1 Swtiny Club 6UU 500 'l5U 250 1,000 5UU 3,000 • ,Jinr~y Haupa C~ntsr 5,000 3.000 1,500 5UU 1,000 U 11,000 ~ Veil SZ iu~n 500 1.000 T50 500 1,000 0 3,750 ~1 Epl• County Mainftsdio 1,000 1,000 1,000 1,000 2,500 U 6.500 611nd Skiers Fvx1 500 1.000 750 1,000 2,500 0 5,750 6att1. 1~ht. Hiph School 500 ~ 2.000 U 2,500 J• Oobson iiactory Furl 500 - 0 500 TOV-Softball Fuld Saddlnp 500 U 5UU Mounpin Tots Pre Schaal 500 ~ 0 500 Salwtion Array SOU ~ 0 SUO Crystal 6x11-plying spot 13,000 4,000 4,000 10.000 0 31,000 Junlor Golf Association 1,500 1,000 750 1,000 0 4,250 Echo Ranch ~ 1,000 0 1,000 Bsav~r CraNc Chapel 1,000 U 1,000 Alpine Garden 1,000 0 1,000 Jahn Elwy Faundstion 1,000 U 1,000 6 Youth Fa .ion 1,000 0 1,000 8attl• Mountain Youth 6asaball 1,000 U 1,000 Mias,1 ProJact - 2.000 0 2,000 8r+sro Colorado 2,000 0 2,000 . r " TOTAL 54,550 67,100 52,900 21,150 72,500 233,218 501,418 v . L . N . ~ • 198° 3erry F.,' .i inv~t~. `.oval Charitable Contribut:~ Eagle County °cho'.arship Fund 50,000.00 Vail Valley Medical Center 3,000.00 Vail Mountain School 3,000•b0 Vail Religious Foundation 1,000.00 Vail Ski Museum 1,G00.00 (Ira Harris) Ski Club Vail 2,000.40 Buddy Werner League 2,400.00 Eagle Valley Azts Council 50.00 Vail Mountain Rescue G,G40.00 Learning Tree SOU.00 Vail De~~elopment Center 6,OGO.C~~~~ Vail Youth Center 2,000.00 (Ira Harris) ABC Children's Acre 504.00 (Ira Harris) Echo Ranch 3,000.00 Bea~~er Creek Chapel 7,500.0() Given Alpine Garden 2,5U0.00 Given Betty Ford Center 2,500.00 Given Betty Ford Center Professional Training Program 2,000.00 John Elway Foundation 1,000.00 say Bronco Youth Foundation 1,000.00 tr•;; US Marine Foundation/Toys for Tots 2,000.00 Given Battle Mountain Youth Baseball 2,000.00 • Miami Project 3,000.00 Bravo! Colorado 2+~•~ Women's Resource Center 5,000.00 Vail Skating Club 1,000.00 Jimmy Heuga Center 2,000.00 Vail Symposium 1,000.00 Eagle County Kam Radio 3~~•~ Blind Skiers Fund 3,000.00 , { 1,000.00 Lee Elder Scholarship Fund X120,000.00 -r,~f: D~,~ vi=,~ ~o s i n r c tch~n a vacat o e s a ry . . _ g ff~ f 1 min rec~esslon . whl 0 00 g _ , ay Tne New York rimes ception to the trend. Officials re- SAN I7IEG0 -Recession looms The M1dWest and Port leisure travel this year is up 7' " across America, and wary vaca- percent in Illinois, 5 percent in tioners are camping out, eating in .Rocky Mountain ,Missouri and 12 percent in Idaho. and heading home early to save a A spokeswoman for Yellowstone few dollars. States prOVlde the .National Park, in northwestern= From the lush Tiger River Val--- maul eXCe tlOri t0 Wyoming, reports a banner year ley in the San Diego Zoo to the P for the region. She said that visits ' rocky coast of Maine, the travel in- the trend. • - rose to 526,260 in June, as against dustry is having its toughest sum- ' - 472,856 in June 1989, and that the - mer in more than a decade. Travel visits recorded last month had set officials see the decline in tourism a record for July. ' as an early warning of economic really out of their price range At Rocky Mountain National troubles, a sensitive barometer of right now," said Magda Corbin, a park, Colorado's prime tourist at- falling consumer confidence. co-owner of Azer Travel in Los An- traction, visits were up 15 percent "People are watching what they geles. - ~ in June over last year. - spend; they fear a recession, if a Instead, 'people are taking But elsewhere, the story is most-: recession is not already in prop-' cheaper, shorter vacations closer ly negative. ress," said Jeff Jouett, spokesman to home. "Normally we go to Flor- _ ¦ In Washington, visitors to the for the 74-year-old. zoo, which im- ida for a week, but we just went to 'monuments along the Mall are =posed a hiring freeze last week af- Cape Cod for the weekend," Debo- scarcer this year. Sales of hot dogs ter July attendance slumped 12 rah Gintey of Middletown, R.I., and snacks at the dozen stands op- , percent, compared with last year. said last week. "We have had a erated by Guest Services Inc.,p "Consumer confidence is down." ~ lousy vacation this summer." "were down 17 percent last summer; Compounding the industry's Thus, even as'revenue is down and are slipping again this year.' woes are sharp increases in gaso- 10 percent this summer at the The Smithsonian Institution's Air line .prices in the last week after Chatham Bars Inn on Cape Cod, and Space ~ Museum reported the Iraqi invasion of Kuwait. Mass., the numbdr of visitors is up 100,000 fewer visitors in June, And. a round of fare increases ~ 10 percent at the nearby beaches compared with last year. ranging from 5 percent to 10 per- of the Cape Cod National Seashore. ¦ In the Northeast, where the cent just announced by~American, "People may be doing more out- recession has been centered near- Northwest, Pan Am, United, TWA doors, one-shot kind of vacation'-, ly all resorts report a bad sum- and other airlines seems certain to ing, said Anthony_ Bonanno, chief '°,mer. Visitors are tending to make .further depress leisure travel. ranger at the 48-mile coastline. Bay trips to Martha's Vineyard, r "I've had a lot more custorriers The Midwest and Rocky Moun- leaving many of its 2,000 hotel and call up, get prices and then say it's fain states provide the main eg- motel rooms vacant. a . sa es~ o - as ears _.amou~n ~ • Restaurants, utility comps- Food and drug stores posted a ty retail shops. ~ May to total Sales of $348,192. Sales by businesses in the Hies and food stores posted high- 3.97 percent increase in May. Tourist accommodations Business for regular clothing report's miscellaneous cat:,~...~ er sales in May than for the Total sales in that category were .dropped 2.56 percent for May. stores d...rrid 10.82 r ~:..a in -which include theaters, same month last year, but all ~ $1.44 million in May •1990 eom- • Total sales were $408,039. How- May to $541,987. health clubs, construction and other businesses were down, pared to about $1.39 million for ever, May supplies only about General retail stores-which repair shops -were down 4.10 according to a report from the the month the previous year. 5.6 percent of the year's sales for include hardware, electronics, percent this May -~..,.r.ared to City of Aspen. hotels and lodges, according to computers, videos and printers the sales month last year. Total Sales for businesses in all Local utilities companies had the city report. -slumped by 16.56 percent in sales in that category came to an enormous boost in sales this categories were up about 2.21 For the first half of the fiscal 'May. Sales d...~.rad to $617,644 $499,497. percent in May compared to May May. Total sales for telephone, : year, sales by tourist accommo- for the month. Aspen's residents and tourists 1989, according to the .~~,...t. electric and natural gas comps- dationsareup 7.74 percent fora Specialty retail - which ~ alsoboughtlessbooze,a..,.,;:1ing Sales for the month totalled Hies were $1.13 million in May total of about $36.4 million. include antiques, jewelry, art ~ the finance department's 1990 compared to $793,000 in a report. Sales b li uor stores $7,293;283 compared to Business for stoles that sell g lleries, pets and toys - Y q $7,135,596 in May 1989, said ~ May 1989. That is an increase of sports equipment and clothing dmpped by 10.88 p•:....:.:.t in May were down 0.88 percent to about 42.89 percent. the report prepared by the city ~ - dropped a hefty 11.16 percent in with total sales of $547,902. 172,126. finance office. i Other Businesses Down Latest Figures - Business in May for hotels, May's figures are the latest lodges and other tourist accom- available. The sales figures are modations d.,.~.red in May along , derived from Aspen businesses' with sales by sports equipment sales tax payments made to the stores, .clothing stores, liquor state stores, and general and special- . For the 1990 fiscal, year, . Which started in December, sales for all businesses are up a modest 1.01 percent through May. Total sales over the first half of the fiscal year totalled $144,520,803 compared to $143,081,075 last year. Sales were up in December, January and February along with May, the city report said.: Sales were down in March and April. Restaurants Break Streak ~ Sales for restaurants and bars have been stagnant or down fmm last year throughout b-d ~Iness • The Aspen Times August 9, 1990 the 1990 fiscal year. However, business for May was up 6.4 per- cent compared to the same month last year. Despite May's numbers, business for restaur- ants and bars is still down 4.4 percent for the first part of the year, the financial report said. Restaurants and bars • recorded about $1.58 million in sales for May compared to about $1.49 million for May 1989.