HomeMy WebLinkAbout2009-04-21 Agenda and Support Documentation Town Council Work Session VAIL TOWN COUNCIL
WORK SESSION AGENDA
VAIL TOWN COUNCIL CHAMBERS
75 S. Frontage Road W.
Vail, CO 81657
8:00 A.M., TUESDAY, APRIL 21, 2009
NOTE: Times of items are approximate, subject to change, and
cannot be relied upon to determine at what time Council
will consider an item.
Public comments on work session Items may be solicited by
the Town Council
1. ITEM/TOPIC: Timber Ridge Interviews. (2 hrs. 45 min.)
8:00 — 9:15 a.m. Fritzlen Pierce Architects Team
9:15 — 9:30 a.m. Set -Up & Break
9 :30 — 10:45 a.m. Gorman & Company
2. ITEMITOPIC: Executive Session, pursuant to: 1) C.R.S. §24 -6-
,
402(4)( a)(b)(e) - to discuss the purchase, acquisition, lease,
transfer, or sale of property interests; and to receive legal advice
on specific legal questions; and to determine positions, develop a
strategy and instruct negotiators, Re: Timber Ridge. (45 min.) 5
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91:30 — 12:00 NOON — Lunch
3. ITEMITOPIC: Timber Ridge Interviews. (2 hrs. 45 min.)
12:00 — 1:15 p.m. Alliance Residential Company
1:15 — 1:30 p.m. Set -Up & Break
1:30 — 2:45 p.m. Vail Timber Ridge, LLC
4. ITEMITOPIC: Executive Session, pursuant to: 1) C.R.S. §24 -6-
402(4)( a)(b)(e) - to discuss the purchase, acquisition, lease,
transfer, or sale of property interests; and to receive legal advice
on specific legal questions; and to determine positions, develop a
strategy and instruct negotiators, Re: Timber Ridge; 2) C.R.S.
1
§24- 6- 402(4)(e) - to determine positions, develop a strategy and
instruct negotiators, Re: An intergovernmental agreement with
CDOT concerning the preliminary design of South Frontage Road
for the Ever Vail project. (45 min.)
5. Kathleen Halloran ITEMITOPIC: Discussion of Ordinance No. 8, Series of 2009,
an ordinance making supplemental appropriations to the Town of
Vail General Fund, Capital Projects Fund , Real Estate Transfer
Tax Fund, Dispatch Services Fund, Heavy Equipment Fund and
Debt Service Fund of the 2009 Budget for the Town of Vail,
Colorado; and authorizing the said adjustments as set forth
herein; and setting forth details in regard thereto. (30 min.)
I
ACTION REQUESTED OF COUNCIL: Provide input regarding
the 2nd supplemental of 2009, Ordinance No. 8, Series of 2009, in
preparation for approving the first reading during the evening
session.
BACKGROUND RATIONALE: To be provided in a separate
memo.
STAFF RECOMMENDATION: Staff recommends that the Town
Council approves Ordinance No. 8, Series of 2009, upon first
reading this evening.
6. ITEMITOPIC: Adjournment. (4:30 p.m.)
NOTE UPCOMING MEETING START TIMES BELOW:
(ALL TIMES ARE APPROXIMATE AND SUBJECT TO CHANGE)
THE NEXT VAIL TOWN COUNCIL REGULAR WORK SESSION WILL BEGIN AT TBD,
TUESDAY, MAY 5, 2009 IN THE VAIL TOWN COUNCIL CHAMBERS.
i
� 2
MEMORANDUM
To: Town Council
From: Stan Zemler
Judy. Camp
Kathleen Halloran
Date: April 16, 2009
Subject: 2008 Preliminary Results and 2009 Supplemental Appropriation
Recording of the town's 2008 financial transactions has been completed, with audited financial statements
in the drafting process. The completion of 2008 financials sets the stage for this supplemental
appropriation of 2009 with the identification of capital projects that span more than one year and need to
have funding re- appropriated to the current year. In Tuesday evening's session, you will be asked to
approve the first reading of Ordinance No. 8 making supplemental appropriations and adjustments to the
2009 budget. The following information is provided for your review:
• Second Budget Adjustment / Supplemental Appropriation Request of 2009
• Summary of Revenue, Expenditures, and Changes in Fund Balances — 2008 Actual Compared
with Amended Budget and 2009 including Second Supplemental Appropriation
• Ordinance No. 8
2008 RESULTS
The town ended 2008 in a stronger financial position than expected through a combination of higher
revenue and lower expenditures than budgeted. Specifically, the General Fund, Capital Projects Fund and
the Real Estate Transfer Tax (RETT) Fund ended the year with surpluses /(shortfalls) of $3.2 million,
$(1.2) million and $5.5 million, respectively. All three funds performed better than anticipated by the
budget. Please see the chart below for an explanation of how the surpluses and/or variance to budget
were generated:
2008 Results General Fund Capital Fund RETT Fund
Revenue 33,809,761 11,933,349 9,789,678
Expenditures 30,641,592 13,105,608 4,270,685
Net Increase/ Decrease to Fund Balance: 3,168,169 (1,172,259) 5,518,993
Budgeted Increase/ Decrease to Fund Balance: 1,728,694 7,911,857) (4,839,481)
Variance to Budget: 1,439,475 6,739,598 10,358,474
Variance due to:
Revenue collections beyond budget 884,840 656,419 1,960,614
Pro continued in 2009 0 5,560,876 3,634,563
Savings in expenditures 554,635 522,303 936,160
Projects delayed to 2010 or beyond 0 0 3,827,137
Total Variance to Budget: 1,439,475 6,739,598 10,358,474
Higher revenue included a record year for sales tax, ski lift tax, real estate transfer tax, and parking
revenue. 2008 sales tax collections of $19.6 million exceeded the amended budget by $231,366 or 1.19%
and exceeded 2007 by $718,228 or 3.8 %. The unbudgeted collections of $231,366 were all recorded into
the Capital Projects Fund. Ski lift tax provided $3.3 million of revenue, up 7.8% from 2007. Real Estate
Transfer Tax collections of $9.1 million were ahead of 2007 by $2.6 million, or 39 %. Parking revenue of
$4.7 million was up 4.2% from 2007.
Expenditures, meanwhile, were generally favorable to budget, with General Fund expenditures of $30.6
million below budget by $554,635 or 1.8 %. The Capital Projects Fund expenditures came in below
budget by $6.1 million, of which $5.6 million relates to ongoing projects, and $522,303, or 2.7% of
expense savings. The RETT Fund expenditures came in below budget by $8.4 million, of which $3.6
million relate to ongoing projects, $3.8 million of delays to projects (to future years) and $936,160, or
7.4% of expense savings.
2009 SUPPLEMENTAL APPROPRIATION
The purpose of this supplemental is to re- appropriate funds for 2009 capital projects that were started in
2008 and are continuing into this year, or projects that did not begin as planned in 2008. Staff is currently
working on further adjustments to both revenue and expense projections, which will be presented to
Council in June.
Changes to budgeted expenditures are identified by color in two categories: Items marked in blue
identify projects for re- appropriation due to surplus funds from 2008, either because the project was
not completed, or had not been started as yet. Items marked in orange identify new projects, or
increases to current projects. Details on the supplemental requests or adjustments are summarized by
fund below.
General Fund
Revenue will be adjusted for $50,000 in sponsorship from Volvo for uniform coats this winter. The coats
were purchased in 2008, and the revenue was received in 2009. The expenditure for the coats was
budgeted in 2009, so this item will be reduced because payment was already made in 2008.
Other revenue adjustments include a reimbursement by Vail Resorts of approximately $15K for future
legal or consultant work on EverVail and $5,234 in grant money from the Northwest Council of
Governments (NWCOG) to support the "Pay as you Throw" trash program. Both items are directly offset
by the same amount of expenditure.
General Fund expenditures are proposed to increase a total of $22,734. This includes $22K previously -
approved by Council to determine the impact if Vail Valley Medical Center re- located outside of Vail.
Staff is requesting $25K to cover the town's participation in a pooled lobbyist effort with other
municipalities across the state. Although the fee paid to the lobbyist has increased based on the town's
participating share, our participation has resulted in funding for bus purchases and the federal grant for a
new transit center.
Capital Pro'ects Fund
Revenue adjustments include the contribution toward underground utility projects from the Holy Cross
Enhancement Fund ($156K), and reimbursement for a transportation study from both the Colorado
Department of Transportation (CDOT) ($24K) and Vail Resorts ($10K). All three reimbursements are
directly offset by expenditures requested for those projects.
Staff is requesting to supplement 2009 expenditures by a total of $6.0 million. Of this, $5.6 million
represent projects budgeted in 2008 but not yet completed. Expenditures re- appropriated are detailed in
the attached schedule (pages 4 -6), and include projects already under contract. New projects or increases
requested include the replacement of an obsolete parking meter system ($145K), an additional $48K for
the historical scanning of town documents, a fire impact study of $15K, a traffic impact study ($30K) and
continued legal and consulting fees regarding the redevelopment of Timber Ridge ($100K).
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Real Estate Transfer Tax (RETT) Fund
Revenue adjustments include $149,458 in federal grant money for the Timber Ridge / Buffehr Creek path.
These funds will offset a portion of the cost of that project ($700K).
Staff is requesting to supplement 2009 expenditures by a total of $4.1 million. Of this, $3.6 million
represent projects budgeted in 2008 but not yet completed. Expenditures re- appropriated are detailed in
the attached schedule (pages 7 -8), and include projects already under contract. Increases are requested for
the Greenhouse project (an additional $150K based on revised cost estimates), Timber Ridge /Buffehr
Creek path ($46K) and Seibert Circle ($100K). $125K was originally budgeted in the Seibert project to
cover the relocation of the Morales artwork. This has been transferred to Public Art for implementation.
In addition, the Seibert Circle project is requesting $100K along with the re- appropriation of $112K to
cover final bills from the project.
Dispatch Services Fund
The Dispatch Services department facilitated the re- banding of radios for county -wide emergency
responders. The expenditure is directly offset by reimbursement from the various agencies.
Debt Service Fund
Both principal and interest expense budgets need to be adjusted for the refunding of the 1998A Bonds
which occurred in December, 2008.
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TOWN OF VAIL 2009 BUD
SUMMARY OF REVENUE, EXPENDITURES A CHAN GES IN FUND BALANCE
GENERALFUND
2006 2008 Vartsnu 2009 1sl 2008 2nd P ad _
Arrtsndad Atkwl
Fair Urdw B Supplemental Amended S Amended mmts
COar
Revenue es: _
Local Tax _
F
Sales Tax Split bt Gentl Fund & Fund 60140 59/41 61139 69141 69(41
Salsa Tax 511,640,000 511,840000 $ - 511,860,000 S 1,000000 3.10860,000 510,860,000
P and Ovvrterstri 4,293,500 4,309,622 16,122 4,293,500 4,293,500 4,293,500
_ ��T� 3,123,852 3,277,703 153,851 3,190,000 3,190,000 3,190,000 --
FrancMs_e Fa n, penalties, and Ottw Taxes 928,110 1,075,209 149,099 899,935 899,935 899,935
Licenses 8 permits 3,501,950 3 903 026 401,076 1,755,200 1,755,200 1,755,200
m
1 vementel Revenue _ _ 1,705,050 1,700,197 1,137 1 1,308719 1,308,719
Transportation Centers 5,111,880 4,816,505 ,375 44 5,680,744 5,6807 5,680,744 -
Charges for Services -- _ 824,362 1,000,733 176 798,838 798,836 798,838 _
Fines 6 Fo rfeitures 259,000 396,707 137,707 280,000 260,000 2 6_O,ODO _
Earnings on Investments _ - 585,000 571,073 13,92 495,000 495,000 495
Renta Revenue - _ _ 797AOO 949,961 152,561 795,300 795,300 795,300
3501( VoWO sponsorei or costs; S15K rNrtbtaaemsa N EverVail
Miscellaneous and Project Reimbursements 156,807 163,025 6,218 59,000 59,000, 70,734 129,734 bpelloonstA6q from Vall Resorts; 35,234NWCOGsparmor** of
lay as you ThroW program; MW sale of Me cabinat ts Cty
TOW Revenue -_ 32,924,921 33 809 781 884 31,396,236 (1,000,0001 30 396,236 70.734 30468,9717 -- -
Expenditures --
S alanes _ 13371,331 13,319,994 51,337 14,119,592 275,905 13,843,687 13,843,887 - -
Ben�LS 4 519 282 4 404 800 114 462 4,795,3a2 (130,095) 4,665,287 4 865 287
Subtotal Corn pensetion and BeneSte 17 890,593 17,724 165 798 13 (405 18,508,974 18
Ctxltribuliona and Special Events 1,399,708 1,366,668 33,038 1,315,875 43,550 1,272,125 1,272,125 _
$25K Transit lo"t; S22K hospsat impact saWy; $15K EverVall
bgisli brig; $5,234 Pay as you tivtav prograrn;SSK addi§wW
All Other Operating Expensslt 7,500,595 7,038,794 461,801 7,383,434 (221,850) 7,181,484 22,734 7,184,218 Housing Strategic Plan; 3500 new Me cabinet: S150yc roams
expense for undorm coals paid in 2008 (relates to Volvo
sorsnip)
H eavy Equipment Opere Cho es 2,247,850 Z 351,269 103,619 2,147,637 117,000 2 2,
Weravy Eqtdpment Replacement Cha s 631,026 835,903 4,877 678,881 678,887 678,881
Dispatch Services 535,657 533 164 2,493 543,072 543,072 543 072
Total Expenditures 30,206,227 29,660,592 554,636 30,883,675 68,600 30,196,173 22,734 30,217,907
Rsvanw Over (U Ert Nurse 2,7191 4,169,169 1439,475 412,593 (211,GDOI 201,063 48,000 249,063 - - - -
Transfer to CapNd Fund (441,000 ) (441,000) - - T
Winter Economic Marked Campaign (550,000 ) (550,000 ) - -- - - -
Em Homo Otenairship nim (375,000) 125,000 (250,000) 50,000 _ - - --
T01alExparlODUres 31,196,227 30,641,592 554,635 31,358,673 ( 913 ,500 ) 30,445,173 22,734 30,487,907 -- - -- -
Surplus Net Of Transfers i New P 1728 684 3 168 168 1439 476 37 663 ($6,500) (48,937) Opp 3 - - - -
Beginning Fund Balance 19,834,717 19,834717 _ -- 21,583,411 21.583471 1 23,002,888 - -
End Fund Balance S 21,593,411 S 23 002 686 3 21.600.974 $ 21 474 $ 23.001,949
Percent to Annwl Revenue 65% 88% 69 % -- - 71% 75% -
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_ TOWN OF VAIL 2009 BUDGET
SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES W FUND BALANCE
CAPITAL PROJECTS FUND
Blue = Re- appropriation of 2005 funds for ongoing projects
2009 Orange= New items or an increase in budget
_ - 200E 2008 Variants 2009 let 2009 2nd P std
Amended Actual Fav/ nfav Bud Supplemental Amended Su m bill Amended Comments
Revenue
Sales Tax $7,780,000 58,171,920 E 411,920 57,540,000 S 7,540,000 57,540,000
Lse Tax 582000 808,483 26,483 1,000,000 1,DDD000 1,000,000
00
Federal Grant Revenue 815577 815,577 1,400,000 1,400,0 1,400.000 E1.4Min'09 and ES.BM kh'10 fertranak center
Eagle C Grant Revenue 317,000 50,000 _ (267 0001
Lease Revenue 167,600 188 160 360 188,550
b 188,550 188,550
_ Em Housh Fee- In-Lieu 503,000 26,461 48,lXID 48,000 48,000
529481
Project Reimbursement 565,000 982,360 417,360 - _ ;) 190 Hoty Cross utility enhancement fund $158K; reimbursement for
trans Ration stud E24K from CDOT and S10K from Vag Resorts
Repayment of Loans 30,000 30,000 Children's Garden of Leann ban balance at 2009 is $25K; VRA $0
Earnings on Investments and Other 546 557 388 J 10.81 18 750 18,760 18 Based on eamin sal .5%
Total Revenue 11,278,930 11933 349 666,419 10,198,300 70,196,300 190,000 10,386,300
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Expenditures
Land I P
Aitai Unit 178,066 178,180 114
Gore Range Condo Units 2E & 3W 599,452 599,981 509
Cente Maintenance Exacmditures
Bus Shakers 79,354 25,566 63,788 30,000 30,000 30 000
Parking Structures 759,588 409,618 480,000 880,000 782,618 Elevator hdrereplacement � in ' other normal repels to parking
Facilities 568,817 532,918 35,898 755,000 766,000 755,000 2009 repair PW shop roof and various repairs to municipal facilities, 2010
_ re -roof the Llbm ; roof re ire to E Vail Fire Stn
Building Remodels 65,000 1 55,000 55,000 On - minor remodels of various Town facilities
Creekside Housing Improvements 60,000 60,000 60,000 Need to g ut plumbing; electrical wiring; roofing, etc.
Donovan Park Pavilion 13,000 12.908 92 - _ _ 2010:$50K furniture replacement; E400K to change ventilation & Improve
noise
Street Light improvements 75,000 72,724 2,278 75,000 75,000 75,000 Add new street lights and refurbish residential lighting ram
Capital Street Maintenance 1,702,280 1,696,772 5,508 1,505,000 (19,413) 1,485,587 1,485,687 On -going maintenance to roads and bridges including asphalt overlays,
p atching and re airs
Flammable storage I Meg Chloride containment 24,000 5,600 18,400 - - 18400 Secondary containment around Mag tank / remove glycol lank to meal
containment requi
west Vail Fie station - Planning / Design 329,229 1 6,900 322,329 - - 322,329 Continue planning and design proceas;Desgn firm has been selected
Replace AMS30 radio systenin 50,000 45,365 4,635
audio_Visual Cound video ,
,Secu Poke ear video 32,000 31,846 154 61,150 61,150 81,150 o9Councilcham vid
berstreami eo;'10 poke cercameros
Re-appropriate E107K for contract position and scanner mice for current &
Document Imaging 350,000 243,301 106,699 - >: 1r� 699 future imaging; Requesting another 4 for continued historical
scanning, final payment to soft st
ware vendor and hardware for both eno
end server
Upgrade Microsoft products on all equipment, replacement PC's, server
Software Licensing 8,500 8,500 68200 68,200 68,200 upgrades, AS400. These upgrades occurevery 3-5 years on a rotation
schedule
F-ardware Purchases 64.838 99 65,9 1, 161 84, 380 84,380 84,380 Scheduled rotation of PCs, printers and servers
Data Center (Computer Rooms) 35,500 - 35,600 12,000 12,000 47,600 Fire suppression computer rooms; maintenance, security and power
s sterna for 3 L
We�ite and ecommeree 30.000 13,0.50 16,950 28,500 28,500 28,500 Internet seamy & application nterfal webake redevelopment 2008109
Comm Dev McGIS System - - - 52;000 52,000 52,000 Web eases m town GIS Wormafion (similar to Countys weblike GIS
dud
Fiber Optics In Buldin a 1 30,000 24,179 5,821 1 15,000 15,000 15,000 Cabling / Network Infrastructure; to repair, maintain & upgrade
Network upgrade 43,478 39,427 4,051 18,300 18,300 18,300 Computer networks terns - replacement cycle 3-5 years
Computer Aided Dispatch (CAD) / RMS Pro' 58,840 58,959 318 51,650 11 51,650 51,650 County-wide "Computer Aided Dispatch/Records Mgmt System"
Comm Dev Interactive Perron software - - - 25,000 25,000 2!1.000 Upgrade of Perk Plus softwere: company will ducondru a support of our
current system
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TOWN OF VAfL 2008 BUDGET
SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE
CAPITAL PROJECTS FUND
Blue = Re- appropriation of 2006 funds for ongoing projects
2009 Orange = New items or on Increase In budget
2006 2008 Variance 2000 let 2000 2nd Proposed
Amended Actual Fav/ Unhv Budget Supplemental Amended Supplemental Amended - Comments
Vehicle Expansion 61,411 ",eel 18,730 18,000 18,000 _ 16, 730 34,730 2009 continued act up of Pollee Volvos 816K; Forklift for PW 818K
E Vel Radio Tower
6,000 5 000
Wlntenenee Paid for Ca I Fund 4,724,263 3,679,793 1,044,470 3,594,180 1111 13 3,374,767 830,276 4,208,043
1 Billii m t x ditures,
West Meadow Drhre 1,720,000 1,119,317 800,683 - - 600,583 600,683 COmpletbrm of projects under Contract Future wo may include
Chec nt Charlie, Covered Bridge, etc.
Village Steetsce" 1,128,761 36,065 1,092,706 - - 1,002,706 1,092,706 ComPlellon of projects under contract; Future work may Include
Check oinl Charlie, Covered Brill is elo.
_
N borhood Road ReconsWclion 150,OOD 150,000 50 50,000 _ 150,000 _ 200 000 Overhaul residential streets -2009 design; Construction In 2010
_ Ne hbahood Bdd a ReconaWction 75,000 75,000 75,000 75,000 75.000 150 000 Overhaul residential bridges -2008 design; Construction In 2010
Fire Breathing Apparatus - - - 180,000 180,000 - 780 000 Replacement of all (30) cy8lden/compressore; Older model currently
used not effective
Parking Entry System / Equipment 52,985 64,760 (1,766) - - 145,000 146,000 Metered lots; equipment obsolete and not servicabb by vendor
Radio Equipment replacement: b. works, ub. 646,500 643,280 2,220 227,000 227,000 _ _ Replacement of 1998 radios for PW, Fire, PD, d elayed
Office Equipment > E5,000 141.1 7,970 8,665 9 9,000 1 9 000 09 GIS Equi
_Heavy Equipment new capital 3,400 3,400. - _
Generator- M unicipal Building / Dispatch 250,000 229,876 _ .20,124 _ _ - 20,1 2D, 124 20OR work finished up n 20 / balance due on a contact
Rep 3,840,297 3,888,836 151,461 143,400 143,400 30, 173,400 2009 for spare parts on new hybrid buses - stocking parts reduces
downtime when buses need servicing; 2010: 6 regular buses
R for by Capital Fund 7,780,678 6,680,084 2,100,494 684,400 227,000 457AN 2,113,513 2,670,913
Property Tax Increment - Reserved 441,000 441,000 = 441, _ 441,000 Continue that reserve for unidentified projects
Other Improvements
Buy-down Program 600,000 500000 51 Increased to 6500}( par year as of 2009 par Housling Strategic Plan
Pitkin Creek Unit 7,350 6,054 1,296 - -
Variable Message Signs/ Way-Finding Improvements 36,416 211 10,973 180,000 180,000 10;0 190,973 09 Val Village wayfndng signs on order, E18DK for Main Val round -about
8 Four Seasons;'10 Solare
For'09, design on EV berm is 60% complete, $20 -25K to finish
1-70 Noise 1,079,282 27,643 1,051,639 - - 1,051, 1,051,639 construction documents. Construction of berth would be phased; costs
not known at this time but re- appropriate for future construction
1.70 Film Optics 908,128 740,347 188,761 - f - 166, 188,781 2009: project nearing completion; Town will have fiber optic connection to
70 corridor for improved public safety communications
Transfer of utility lines from above ground to underground; Coordination
Underground Utility improvements 212,783 153,296 59,487 - - 156, c 156,000 with Holy Cross on projects and funding from Community Enhancement
Fund as well as homeowners; offset by $156K revenue above
Manor Vail Street Plan 100 16,200 83,800 - - 83, ` 81 Expenditure related to im pact fee paid by Manor Val development
Cham_o_n &Area Planning _ 149,871 149,762 109 30D00 30,00 3D 000 Continued work on Chamonix area planning _
West Vail Are Pla nning _ 3,406 - 3,406
Housing Strategic Plan 25,341 12,067 13,274
LH Parking Structure Redevelopment 64857 55,009 9,848 _
Fire Impact Fee Nexus study - - - - - 15,000 15.000 Nexus study to determine redevelopment impact on Fie Department
Traffic Impact Fee study 30,000 Study to determine redevelopmnot impact on balrcI potential revenue;
identl as a next st ein lronspon
Re- appropriation of E19K, phis an addlional $81K to comlete the second
ITmber Ridge LegallZonng 83,927 14,520 19,407 - - 100,000 100,000 r of phase or negotiating a contract and to recognize incremental costs due to
_ a higher numb respo
Timber Rid a Dabl Service Guarantee 925,000 925 00
925 000 - 925 000 0 .Annual debt service guarantee - requirement of TR deM
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TOWN OF VAIL 2009 BUDGET
SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE
CAPITAL PROJECTS FUND - - - - - - - - - - - - - - -
Blue = Re- appropriation of 2006 finds for ongoing Projects
2009 Orange = New items or an increase In budget
2008 2008 Varianee 2009 let 1 2009 2nd Pro sod
Amended Actual Fav! Unfa Budget I emental Amended Su emenhl Amended Comments
I Design costs to implement Town improvements (offset by contributions
LionsHead Improvements 32,242 48,579 (16,337) - - 34,OW 34,000 from Vail Resorts and CDOT): Construction costs for LH Redevelopment
will be funded from developer contrbutons, TIF & other sources
Bass Study 50 000 5o 000 - 50,0W Currently research Bio-mass o l
Total Other Im wmenb 3,869,803 1,278,920 2,380,883 710,000 710,000 2,625,193 3,306,193
Total Capkill before Financing 17,382,982 11,416,938 5,966,024 4,788,680 246,411 4,542,167 8 10,522,149
Debt Service and Financing
Debt Service on Outswding Bonds 2,321,826 2,204,670 117,155 2,288,775 2,286,775 31,346 2,298 121 Adjust debt service fund eM f refunding of bonds
Transfer to Val Reinvestment Authority 1,400,000 1.400,000 1,400,000
Transferhom Dispatch Fund J75,0001 (75,0130)
Transferfrom General Fund (441,000) (441,000)
Total Debt Service and Flnancin 1,806,826 1,688,870 117,156 3,6611,775 - 3,886,775 31,346 3,698,121
ToW Expenditunis 19,188,787 13,105,606 6,083,179 8,455,355 245,413 8,208,942 6,041,3211; 14,220,270
Revanus Over (Und Expenditures ,911,867 ) (1,172,2591 6,739,598 1,739,945 246,413 1,986,358 6,851,328 3,834,970 _ _ _ _ _ _ _ _
Beg inning Fund Balance 10,154,128 10,154,128 2,242,271 2,242,271 6,739,596 8,981,669 _ _ _ _ _ _ _
Ending Fund Balance 2,242,271 "11 69 6.739.598 3 982 16 a 228 629 888 6146 9
Unfunded Capital Projects
Wast Val Fire Station 2 76D 2 2 780 000 2 760 000
Total Unfunded Projects 2,780,OD0 2,780,000 2,780,000 - - - - - - -
Ending Fund Balance IncL Unfunded list I 2,242,V1 1 8 981 889 1 9,739,1198 1,22t216 1 8 629 1 898,270 2,386,999
.7.
TOWN OF VAIL 2009 BUDGET
SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE
REAL ESTATE TRANSFER TAX
Blue = Re- appropriation of 2008 funds for ongoing projects
2009 _ _ Ora nge = Now items or an Increase In budget
2008 2008 Variance 2009 2nd Proposed
Amended Actual Favf May IS at Su Mmeatal Amended Comments
REVENUE
Real Estate Transfer Tax $ 7,230,000 $ 9,091,917 $ 1,861,917 $ 6,2_41 $ _6,241,000
Federal Grants 2 2,400 - 149,438 149,452 Federal grant for the Timber Ridge/ Bu lfehr Creek path
Golf Course Leese 126,708 122,010 4,696 120,000 120,000 Annual leas payment from Vail Recreation Di strict
VRD repayment for promissory note 352.325 352,325 Note bas on $1.6 M ban at 3.5% over 5 years
Intagpovenmental Revenue 20,000 24,514 4,514 20,000 - 20,000 Lone proceeds
P Reimbursements 6,000 4,102 1.898) 2,500_ 2,500 1stBank sponsorship ofsh opp be
Recreation Amenity Fees 55,000 54,822 (178)] 25,000 25,000 Annualsstimate _
Earnings on Investments and Oter h 398 489 100,957 162,500 162 500
Total Revenue 7,829,064 9,789,678 1,960,614 6,920,825 151,958 7,072,783
Capital Maintenance Expenditures
Annual Park and Landscape Maintenance 1,311,066 1,143,289 167,777 1,385,882 _ 1,365882 0 n ark and o n space maintenance, roed mgmt
Management Fe t o General Fund 5% 361,600 435,055 ,555 312,050 - 312,050 5% of RETT Collections - fee remitted to the General Fund for administration
Rec. Path Capital Mant 384.262 325,114 59,148 153,540 51,000 284,540 Capital maintenance ofthe town's recreation path system ;'09 re- appropriation for ree path wayfnding
_ signs on order
Tree Maintenance 115,931 65,986 49,945 60,000 49;954 109,954 Regular maintenance for tree health within the town (spraying, removing, new tre") ;'09 to continue with
scab spraying on town-owned property at approx $120 per tree
Forest Heafth Managemen _ 631,808 259,607 272,201 2&4,000 - 265.000 Pine beetle ' " anon in conjunction w/ forest service
Swett Fumaure Replacement 28,143 14,178 11,965 20,000 116 31,965 Additions and replacement of street fumdure:'09 reapproprietion to expand bike rack installations (at
,98 approx. $1,000 per bike racky
Park / Playground Capital Maintenance 125,229 124,388 861 110,000 110,000 To maintain playgrounds, resboams, etc.
Donovan Park Budding 29,634 - 29,634 - - - - -
Alp ine Garden Support 90,000 90 - 55,620 - I. 55,620 Annual support at 3% Increase per yew
Black Gore Creek Sand Mitigation 184,000 93,431 90,569 90,000z 90,589 180,569 Annual support of water protection programs;'09 re- appropriation to move a waterline to make room for
additional send retention
Total Capital Mantenance, 3,189,874 1 2,561,028 $08,848 2,432,092 203_, 2,635,860
Other Improvements
Meadow Drive Streetitcape 1,050 000 638.212 411.788 1 411,788 411,788 09 fo West Meadow Drive to Val Road); ongoing costs under contract
Katsos Ranch Bice Path 346,887 223,020 123,867 - 10,000 10,000 09 for wetland re- vegatntbn - the last task in resurfacing rec path from Sunburnt to E. Val
Cascade Bike Path 6 6.977 Widen recreation p ath from W. Haven to tennis courts
Path from TimberRidge to Roost; offset by Federal Grant of approx. $150K; $46K additional funds
Tmber Ridge- Buffahr Creek Rd separatbrh 5M,242 - 504,242 - 700,000 700,000 necessaryto comply with federal funding requirements and original cost estimates were from 2007
Lionahead to Meadow Or - - - 202,500 _ 202,500 Improvements to existing bike path along the stream
7reinead Development l Improvement 33,25D 19,149 14,101 23,200 23.200 .Improve trailheads; Continued need through 2012 one trait per year
Shared costs with VRD - ADA access at recreational facilities; '09 re-appropriation to remodel resaeorn
ADA Compliance wl VRD 100,849 24,968 75,881 10,000 75,881 85,881 at gog course hole f113: LH auxiliary bldg ADA improvements gift) and a ramp /reslroom upgrade at the
Clubhouse
Recreation Master Planning 79,543 73,128 6,41b Concept and design of re creation asset improvements
Slreamwale ADA & Safety in rovements 225.000 10,014 214,986 _ - 1,033 1,033 To cover remaining engineerin g bill
Greenhouse 100,000 - 100,000 - 250,000 250,000 Additional $150K based on revised cost estimates (previously estimated at a total of $400K)
Frontage Road Bice Lanes/7ralls 1,275,000 1,275,000 - 150,000 160,000 ConsWd widened V shoulders along all frontage roads; fiat priority is Blue Cow Chute to East Val;
path Imm Val Mm School to E. Vail exit; 2009 for design; construction is budgeted In 2010
Ford Park Master Plan - Improvements 1,581.340 - 750,000 750,000 Re-a ppropriation from 2008 for master planning and parking survey work; remainder to 2010
Seibert Circle 323,230 -�- 85,594 237,896 - 212,696 212,896 Transfe $125K to Public Art for relocation of Morales; Additional $100K to finish bill payments on
_ _ work completed
Raw Water I Iffiiiiation Control 9,927 4,175 5,752 _ 5,752 5,752 09 to cover a remaining bill from Eagle River Water 8 Sanitation Dbtrict
Kay ak Takeout 10,000 10,000 _ _ _ _ 10,000 _ 10,000 Kayak takeout area along stream of Willows development agreement
Stream Trail Encroachment Survey 64,881 84,881 64,e61 _ 64,881 Survey along Gore Creek
Red Sandstone Paris -Per Safety plan 485,037 205 484,832 464,832 464,832 Reconstruction of playground per safety plan; 20 years old; in-house design currently underway and stag
.w orking on apllop to deal with perking and ADA requirements
Lbrishead park 1 720 1.086.280t Naw ark - location not determined; delay protect for now
_g_
TOWN OF VAIL 2009 BUDGET _
SUWAARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE _
REAL ESTATE TRANSFER TAX _
Blue = Re- appropriation of 2008 funds for ongoing projects
2009 Orange = New Items or an increase in budget
2006 2099 Variance 2009 2nd Pro ed
Amended J Actual I Fav/ Unfav Bud plemental Amended t Comments
Donovan Park 1 15,409 466 14,943 Xerie garden; construct additional picnic shelter
White Water Park 48,325 27,948 20,377 - 5,000 3rd l I bladder system at Whiewater Park - last part of project is to program the water feature's
Skate Park 65,000 48,924 18076 - G21 councils request 10119104 - tempior� skate park
Beer Proof Containers 2,578 2,578 OV parks & trailh bring our cans into corn Rance
Art in Pubic Places - Programs /Art 264,516 131,537 132,979 75,000 urchase sculptures, artwork, art programs and events: remainder Is re- appropriated each yearto
umulate enough funds; 67K additional from net profit of 2008 Manhole cover sales
pubic Art - Morales relocation nsf kom Seanert to cover cost of relocatir the Morales artwork
Pubic Art - Meadow Drive Entry 85,000 85,000 - nsferred in'08 from streetscape project to cover cost of new Meadow Drive entry feature
Pubic Art -O 65,275 78,457 13,182 84,359 P salary and operating expenses related to RETT
Frontage road medians alongside redevelopment projects; working on fighting plan for in front of Solaria,
Landscape Medians 570,000 16,502 553,498 800'000 Vail Plaza and Four Seasons; remainderto 2010 _
Public Restrooms 78,659 58,075 20,504 _ - _ 09 Tear down and rebuild (and enlarge) Ford Park restmom; Reslrooms at W. Meadow Drive & Vag
_ Road; Per 10121 shed from'09 tc'10
Envkomental Sustainability 312,711 221,642 91,169 255,000 315,000 Re-appropriate for future projects such as energy efficiency studies of municipal build recycling
rem -, etc.
0 n ace Land Auiisdion 551 - "1:2N
Capital Paid for by RETT Funds: 8,301,896 1,882,878 7,8380 660,089 3,822,019 4,472,078
VRD4ftnagW Facility Pro jects
Recreation Enhancement Account 120.000 - 120,000 Reserve account for goff course Improvements - funded by annual base revenue
Golf Course Irrigation - VRD's portion 1,607,522 1,607,522 Finance VRD's portion of ' allon system replacement (5-year payback
Golf Course Inigation 1,807 522 1,607 522 Based on estimates from Borne Engineering: split 50% with VRD
Golf Course Clubhouse, Starter Shack, etc. 602.175 - 602,175 Improvements to maintenance building and main clubhouse
Golf Course -Other Improvements 634,737 634,737 ADA access to clubhouse; bridge and retaining wall repa irs
Dobson lee Arena 98 _ 3 59,963 1,085,993 1,085,993
,906 09 Roof and central air re ev outer ears figlM- and locker rooms
D9 walkways & restroom mof;'10 outbuilding, retaining walls and fenclintI re- appropriation for
Ford Park I Tennis Center Improvements 78,800 18,800 62,000 115,886 177,966 continued refurbishing of Ford Park tennis courts per base agreement; delays due to park master
p lanni ng
Athletic Fickle 20,280 1 20 09 irrigatim a em;'12 asphaft overla of parking let
Youth Services 164,983 164,983 09 ADA access and furnaces
Gymnastics Comer 29 1,338 28,273 I 30 821 30,621 09 retaining walls;'10 mechanical improvements
Total VRD-Mimaged Facility Projects 207,317 57,081 150230 1 6,989,819 62,000 6,061,819
Total Expenditures 12,868,646 4,270,886 8,397,860 9,071,970 4,097,507 13,159,477
Revenue Over (Und Expend --a ,839,461 6,516,993 10,368,474 (2,161,146) (6,088,894
Peginrng Fund Balance 11,769,273 11,769,273 6,929,791 10,358,474 17,288288
Ending Fund Balance 6,929.792 f 17.288.266 $ 10.368,474 $ 41,778,6411 10,358,474 1 $ 11 201 672
-9-
i
TOWN OF VAIL 2008 BUDGET
SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE --
DISPATCH SERVICES FUND - -- - - -
2009
2008 2008 Variance 2009 2nd Pro posed - - - -- _
Amended Actual Fav /(Urdav) Budget Supplemental Amended Comments
Revenue
E911 Board Revenue $ 607,183 $ 607,183 S
$ 657,015 $ 657,015 - -
I Charges 1,060,439 1,050,439 - 1,157,49 1,157,497
Town of Vail Interagen Charge 535,657 533,184 2,493 543,072 543,072
Earnings on Investments 12,000 18,763 6,763 72,142 12,142 - --
Re- banding radio project ; TOV facilitated proj
Odrer 7 500 7 500 - 69,750 69,750 across County with other agencies _
Total Revenue 2,205,279 2,217,048 11,770 369,726 69,750 2,438,476 _ --
F_xpenditums - - - -- --
Salaries & Benefits 1,608,676 1,588,183 18,493 , 1,732,699 1,732,699 _
Op"rog, Maintenance & Contracts 478,511 459,767 18,7441 499,535 499.535
Re- banding radio project: TOV facilitated project
capital Outlay 142 50,121 91.879 135 000 69.750 204,750 across Coun wRh other agenci
Total Expenditures 2,227,187 2,098,071 129,116 2,367,234 89,750 2,436 984
Revenue Over (Undan Expendiftums 21, 118,978 140,868 2,482 2,492 -- - - --
Tmnsfer to Capital Projects Fund 5,000) (75,000)
inning Fund Balance 918,366 818,368 821,458 140,886
Ending Fund Balance 11 821 AN 962,344 11 140,866 $ 823,950 i 140 886 S 9 "'B"
-10-
_ TOWN OF VAIL 2009 BUDGET —
SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE - -- —
DEBT SERVICE FUND
2008 — — --
2008 2008 Variance 2008 2nd Proposed
Amended Actual Favi(Unfav) Budget Supplertwntal Amended Comments
Revenue
Adjust for debt service payment from Capital
Transfer from Capital Pro arts Fund $ 2,321,825 $ 2,204,670 S 117,155 $ 2,286,775 31,34 $ 2,298 121 Projects Furl
Earn' on Investments 50,830 50.83D
Total Revenue 2,321.825 2,255,500 66 325 2 31 346 2.298.121
Expendituros - -- -- — — — -- —
Remove 1998A Gentle and add 2008 Bonds to
Principal 1,890,000 1,890,000 2,000,000 20,000 1,980,000 budget ( refinancing done in D ec.'08)
Remove 1998A Batas and add 2008 Bonds to
Interest Expemse 432,395 432,395 1 266,775 29,520 296,295 budget (refin done in De '06)
Additional fees related to the refinancing of the
Fiscal Aqimt Fees 2,500 2,51'10 - 2,500 4,450 _ 6,950 199M B I se_ t_ up of the 2008 Bonds
Gonda Issuance Costs 115 760 115 741 19
Total Expenditures 2 440 656 2.440.636 20 2,269,275 13,970 2,283,245
Revenue Over (Under) Expenditures 118,831 185,136 6630 (2,500) 17,376 1076
OtlK► Financing Sources (tlsa
Proceeds of Refunding B onds 6,503,221 6,503221 -
P noerds to R efunded Bonds Escrow (6,3 461 1 (6.396.461) --
Total Other Rinericin sources (Uses) 106,760 106,760
1219ginnug Fund Balance 252,710 252,7101 240,639 66. 5j 174,334
Ending Fund Balance 240 174,334 88,305 238,138 48,828 188,210
•11-
ORDINANCE NO.8
SERIES OF 2009
AN ORDINANCE MAKING BUDGET ADJUSTMENTS TO THE TOWN OF VAIL GENERAL
FUND, CAPITAL PROJECTS FUND, REAL ESTATE TRANSFER TAX FUND, DISPATCH
SERVICES FUND, AND DEBT SERVICE FUND OF THE 2009 BUDGET FOR THE TOWN OF
VAIL, COLORADO; AND AUTHORIZING THE SAID ADJUSTMENTS AS SET FORTH
HEREIN; AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, contingencies have arisen during the fiscal year 2009 which could not have
been reasonably foreseen or anticipated by the Town Council at the time it enacted Ordinance No.
25, Series of 2008, adopting the 2009 Budget and Financial Plan for the Town of Vail, Colorado;
and,
WHEREAS, the Town Manager has certified to the Town Council that sufficient funds are
available to discharge the appropriations referred to herein, not otherwise reflected in the Budget, in
accordance with Section 9.10(a) of the Charter of the Town of Vail; and,
WHEREAS, in order to accomplish the foregoing, the Town Council finds that it should make
certain budget adjustments as set forth herein.
NOW, THEREFORE, BE IT ORDAINED, BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO that:
1. Pursuant to Section 9.10(a) of the Charter of the Town of Vail, Colorado, the Town
Council hereby makes the following budget adjustments for the 2009 Budget and Financial Plan for
the Town of Vail, Colorado, and authorizes the following budget adjustments:
General Fund $ 22,734
Capital Projects Fund 6,041,328
Real Estate Transfer Tax Fund 4,087,507
Dispatch Services Fund 69,750
Debt Service Fund 13,970
Total $10,235,289
2. 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.
Ordinance No. 8, Series of 2009
The w Council hereby fin determines, and e To n Cou c l e eby ds, de a es, declares that this ordinance is a e
necessary and proper for the health, safety, and welfare of the Town of Vail and the inhabitants
thereof.
4. 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 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 reenacted. The repeal of any provision hereby shall not revive any provision or any
ordinance previously repealed or superseded unless expressly stated herein.
5. All bylaws, orders, resolutions, and ordinances, or 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, theretofore repealed.
INTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON
FIRST READING this 21st day of April, 2009, and a public hearing shall be held on this Ordinance
on the 5th day of May, 2009, at the regular meeting of the Town Council of the Town of Vail,
Colorado, in the Municipal Building of the town.
Dick Cleveland, Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
Ordinance No. 8, Series of 2009