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HomeMy WebLinkAbout2015-10-20 Agenda and Supporting Documentation Town Council Regular SessionNOTE: VAIL TOWN COUNCIL 0� REGULAR MEETING AGENDA TVWN OF VA10 VAIL TOWN COUNCIL CHAMBERS 75 S. Frontage Road W. Vail, CO 81657 6:00 P.M., OCTOBER 20, 2015 Times of items are approximate, subject to change, and cannot be relied upon to determine at what time Council will consider an item. ITEM/TOPIC: Citizen Participation (10 min. ) 2. ITEM/TOPIC: Proclamation No. 4, Series of 2015 National Friends of Libraries Week (5 min. ) PRESENTER(S): Lori Ann Barnes, Town of Vail Librarian 3. ITEM/TOPIC: Consent Agenda: 1) Resolution No. 33, Series of 2015, A Resolution Approving an Amendment to the Intergovernmental Agreement Between the Town of Vail and The Colorado Department of Transportation Regarding Vail -Bridge Road Structure Replacement; and Setting Forth Details in Regard Thereto (5 min. ) 4. ITEM/TOPIC: Any Action as a Result of Executive Session (5 min. ) BACKGROUND: This agenda item has been added to the regular meeting agenda in order to allow for any official action required as a result of the executive session. 5. ITEM/TOPIC: Town Manager's Report: 1) Management of Frontage Roads (5 min. ) 6. ITEM/TOPIC: Second Reading of Ordinance No. 14, Series of 2015, An Ordinance Repealing and Reenacting Chapter 10-1, Building Codes, Vail Town Code, Adopting by Reference the 2015 Editions of the International Building Code, International Residential Code, International Fire Code, International Mechanical Code, International Energy Conservation Code, International Existing Building Code, Colorado Plumbing Code, Colorado Fuel Gas Code, 2014 Edition of the National Electrical Code, 1997 Edition of Uniform Code for Abatement of Dangerous Buildings and with Regard to the Above -Described Codes, Adopting Certain Appendices. Setting Forth Certain Amendments Thereto, and Setting Forth Details in Regard Thereto. (5 min.) PRESENTER(S): Martin Haeberle, Chief Building Official & Mike Vaughan, Fire Marshal ACTION REQUESTED OF COUNCIL: The Vail Town Council table 10/20/2015 Second Reading of Ordinance No. 14, Series of 2015 to November 3, 2015. STAFF RECOMMENDATION: The Community Development Department, Fire Department and Building and Fire Code Board of Appeals requests the Vail Town Council table Ordinance No. 14, Series of 2015 to November 3, 2015. 7. ITEM/TOPIC: Second reading of Ordinance No. 15, Series 2015, an Ordinance adopting a budget and financial plan and making appropriations to pay the costs, expenses and liabilities of the Town of Vail, Colorado for its fiscal year January 1, 2016 through December 31, 2016. (30 min.) PRESENTER(S): Carlie Smith, Budget Analyst ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No, 15, Series 2015 BACKGROUND: Please see attached memo STAFF RECOMMENDATION: Approve or approve with amendments Ordinance No. 15, Series 2015 8. ITEM/TOPIC: Adjournment (7:05 p.m.) Please call (970) 479-2138 for additional information. Sign language interpretation is available upon request with 48-hour notification. Please call (970) 479-2356, Telecommunication Device for the Deaf (TDD), for information. 10/20/2015 TOWN OF VAIN VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: October 20, 2015 ITEM/TOPIC: Citizen Participation 10/20/2015 TOWN OF VAIN VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: October 20, 2015 ITEM/TOPIC: Proclamation No. 4, Series of 2015 National Friends of Libraries Week PRESENTER(S): Lori Ann Barnes, Town of Vail Librarian ATTACHMENTS: Proclamation No. 4, Series 2015, Friend of the Library 10/20/2015 TOWN OF VAIL Proclamation No. 4 Series of 2015 WHEREAS, Friends of the Vail Public Library raise money that enables our library to move from good to great -- providing the resources for additional programming, much needed equipment, support for children's summer reading, and special events throughout the year; WHEREAS, the work of the Friends highlights on an on-going basis the fact that our library is the cornerstone of the community providing opportunities for all to engage in the joy of life-long learning and connect with the thoughts and ideas of others from ages past to the present; WHEREAS, the Friends understand the critical importance of well funded libraries and advocate to ensure that our library gets the resources it needs to provide a wide variety of services to all ages including access to print and electronic materials, along with expert assistance in research, readers' advisory, and children's services; WHEREAS, the Friends' gift of their time and commitment to the library sets an example for all in how volunteerism leads to positive civic engagement and the betterment of our community; NOW, therefore, be it resolved, the Vail Town Council hereby proclaims October 18-24, 2015, as Friends of Libraries week in Vail, Colorado and urge everyone to join the Friends of the Library and thank them for all they do to make our library and community so much better. SIGNED THIS 20th DAY OF OCTOBER 2015 Andrew P. Daly, Mayor Attest: Patty McKenny, Town Clerk 10/20/2015 Towx of vn' 1[1 VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: October 20, 2015 ITEM/TOPIC: Consent Agenda: 1) Resolution No. 33, Series of 2015, A Resolution Approving an Amendment to the Intergovernmental Agreement Between the Town of Vail and The Colorado Department of Transportation Regarding Vail -Bridge Road Structure Replacement; and Setting Forth Details in Regard Thereto ATTACHMENTS: Resolution No. 33, Series of 2015 10/20/2015 RESOLUTION NO. 33 Series of 2015 A RESOLUTION APPROVING AN AMENDMENT TO INTERGOVERNMENTAL AGREEMENT BETWEEN THE TOWN OF VAIL AND THE COLORADO DEPARTMENT OF TRANSPORTATION REGARDING VAIL-BRIDGE ROAD STRUCTURE REPLACEMENT; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Town of Vail (the "Town "), in the County of Eagle and State of Colorado is a home rule municipal corporation duly organized and existing under the laws of the State of Colorado and the Town Charter (the "Charter "); and WHEREAS, the members of the Town Council of the Town (the "Council ") have been duly elected and qualified; and WHEREAS, the Town currently has budgeted the required local match; and WHEREAS, the Federal Highway Administration (the "FHWA ") allocates funds for local transportation projects; and WHEREAS, the Town is requesting FHWA funds for the design of the Vail -Bridge RD replacement (the "Project "); and WHEREAS, the Colorado Department of Transportation ("CDOT ") is responsible for the general administration and supervision of performance by the Town for the Project: and WHEREAS, the Town and CDOT wish to enter into an Intergovernmental Agreement (the "IGA ") authorizing the design of the Project; and WHEREAS, the Council finds and determines that IGA is necessary and will promote the health, safety, morals, and general welfare of the Town; and WHEREAS, the Council's approval of Resolution No. 33, Series 2015, is required to enter into an IGA. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Council hereby approves the IGA and authorizes the Town Manager to enter into the IGA with CDOT, in substantially the same form as attached hereto as Exhibit A and in a form approved by the Town Attorney. Section 2. This Resolution shall take effect immediately upon its passage. INTRODUCED, PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Vail held this 20th day of October, 2015. Andrew P Daly, Town Mayor ATTEST: Patty McKenny, Town Clerk Resolution No. 31, Series of 2015 10/20/2015 OLA #: N/A PO #:471000554 Project #: BRO M306-007 AMENDMENT Amendment No.: Original Agreement Routing No.: Amendment Routing No.: 1 15-HA3-75418 15-HA3-ZH-00065-M0002 1. PARTIES This Amendment to the above -referenced Original Agreement (hereinafter called the "Agreement") is entered into by and between TOWN OF VAIL (hereinafter called the "Local Agency"), and the STATE OF COLORADO (hereinafter called the "State") acting by and through the DEPARTMENT OF TRANSPORTATION (hereinafter called the "State" or "CDOT" ). 2. EFFECTIVE DATE AND ENFORCEABILITY This Amendment shall not be effective or enforceable until it is approved and signed by the Colorado State Controller or designee (hereinafter called the "Effective Date"), The State shall not be liable to pay or reimburse the Local Agency for any performance hereunder including, but not limited to, costs or expenses incurred, or be bound by any provision hereof prior to the Effective Date. 3. FACTUAL RECITALS The Parties entered the Agreement to disperse Federal funds to the Local Agency pursuant to CDOT's Stewardship Agreement with the Federal Highway Adminstration. 4. CONSIDERATION — COLORADO SPECIAL PROVISIONS The Parties acknowledge that the mutual promises and covenants contained herein and other good and valuable consideration are sufficient and adequate to support this Amendment. The Parties agree to replacing the Colorado Special Provisions with the most recent version (if such have been updated since the Agreement and any modification thereto were effective) as part consideration for this Amendment. 5. LIMITS OF EFFECT This Amendment is incorporated by reference into the Agreement, and the Agreement and all prior amendments thereto, if any, remain in full force and effect except as specifically modified herein, 6. MODIFICATIONS The Agreement and all prior amendments thereto, if any, are modified as follows: Exhibit C to the Agreement is hereby deleted in its entirety and replaced with the document attached hereto as Exhibit C-1 and made a part hereof. As of the Effective Date, all references to Exhibit C shall now reference Exhibit C-1. 7. EFFECTIVE DATE OF AMENDMENT The effective date hereof is upon approval of the State Controller or their delegate. 8. ORDER OF PRECEDENCE Except for the Special Provisions, in the event of any conflict, inconsistency, variance, or contradiction between the provisions of this Amendment and any of the provisions of the Agreement, the provisions of this Amendment shall in all respects supersede, govern, and control. The most recent version of the Special Provisions incorporated into the Agreement or any amendment shall always control other provisions in the Agreement or any amendments. 9. AVAILABLE FUNDS Financial obligations of the State payable after the current fiscal year are contingent upon funds for that purpose being appropriated, budgeted, or otherwise made available. Document Builder Generated Page 1 of 2 10/20/2015 THE PARTIES HERETO HAVE EXECUTED THIS AMENDMENT Persons signing for the Local Agency hereby swear and affirm that they are authorized to act on the Local Agency's behalf and acknowledge that the State is relying on their representations to that effect. ALL AGREEMENTS REQUIRE APPROVAL BY THE STATE CONTROLLER CRS §24-30-202 requires the State Controller to approve all State Agreements. This Agreement is not valid until signed and dated below by the State Controller or delegate. The Local Agency is not authorized to begin performance until such time. If the Local Agency begins performing prior thereto, the State of Colorado is not obligated to pay the Local Agency for such performance or for any goods and/or services provided hereunder. By Document Builder Generated STATE CONTROLLER Robert Jaros, CPA, MBA, JD Colorado Department of Transportation Page 2 of 2 10/20/2015 1 STATE OF COLORADO John W. Hickenlooper, GOVERNOR LOCAL AGENCY COLORADO DEPARTMENT OF TOWN OF VAIL TRANSPORTATION Shailen P. Bhatt, Executive Director By: (Print Name) Title (Print Title) By: Joshua Laipply, P.E., Chief Engineer *Signature Date: Date: Additional Local Agency Signature LEGAL REVIEW (If Necessary) Cynthia Coffman, Attorney General By: (Print Name) Title By: Assistant Attorney General (Print Title) Date: *Signature Date: ALL AGREEMENTS REQUIRE APPROVAL BY THE STATE CONTROLLER CRS §24-30-202 requires the State Controller to approve all State Agreements. This Agreement is not valid until signed and dated below by the State Controller or delegate. The Local Agency is not authorized to begin performance until such time. If the Local Agency begins performing prior thereto, the State of Colorado is not obligated to pay the Local Agency for such performance or for any goods and/or services provided hereunder. By Document Builder Generated STATE CONTROLLER Robert Jaros, CPA, MBA, JD Colorado Department of Transportation Page 2 of 2 10/20/2015 1 30. EXHIBIT C-1 — FUNDING PROVISIONS A. Cost of Work Estimate The Local Agency has estimated the total cost of this Work to be $1,281,000.00, which is to be funded as follows: 1 BUDGETED FUNDS a. Federal Funds $1,024,800.00 (80% of Participating Costs) b. Local Agency Matching Funds $256,200.00 (20% of Participating Costs) TOTAL BUDGETED FUNDS $1,281,000.00 2 ESTIMATED CDOT-INCURRED COSTS a. Federal Share $0.00 (0% of Participating Costs) b. Local Agency Local Agency Share of Participating Costs $0.00 Non -Participating Costs (Including Non - Participating Indirects) $0.00 Estimated to be Billed to Local Agency $0.00 TOTAL ESTIMATED CDOT-INCURRED COSTS $0.00 3 ESTIMATED PAYMENT TO LOCAL AGENCY a. Federal Funds Budgeted (1 a) $1,024,800.00 b. Less Estimated Federal Share of CDOT-Incurred Costs (2a) $0.00 TOTAL ESTIMATED PAYMENT TO LOCAL AGENCY $1,024,800.00 4 FOR CDOT ENCUMBRANCE PURPOSES Total Encumbrance Amount $1,281,000.00 Less ROW Acquisition 3111 and/or ROW Relocation 3109 $0.00 Net to be encumbered as follows: NOTE: Only the Design funds are currently available; the Construction funding will become available after federal authorization and execution of an Option Letter (Exhibit D) or Amendment. WBS Element 20095.10.30 Design 1 3020 $230,439.00 WBS Element 20095.20.101 Const 1 3301 $0.00 10/20/2015 B. Matching Funds The matching ratio for the federal participating funds for this Work is 80% federal -aid funds (CFDA #20.205) to 20% Local Agency funds, it being understood that such ratio applies only to the $1,281,000.00 that is eligible for federal participation, it being further understood that all non -participating costs are borne by the Local Agency at 100%. If the total participating cost of performance of the Work exceeds $1,281,000,00, and additional federal funds are made available for the Work, the Local Agency shall pay 20% of all such costs eligible for federal participation and 100% of all non -participating costs; if additional federal funds are not made available, the Local Agency shall pay all such excess costs. If the total participating cost of performance of the Work is less than $1,281,000.00, then the amounts of Local Agency and federal -aid funds will be decreased in accordance with the funding ratio described herein. The performance of the Work shall be at no cost to the State. C. Maximum Amount Payable The maximum amount payable to the Local Agency under this Agreement shall be $1,024,800.00 (For CDOT accounting purposes, the federal funds of $1,024,800.00 and the Local Agency matching funds of $256,200.00 will be encumbered for a total encumbrance of $1,281,000.00), unless such amount is decreased as described in Sections B. and C. 1. of this Exhibit C-1, or increased by an appropriate written modification to this Agreement executed before any increased cost is incurred. NOTE: Only the Design funds are currently available; the Construction funding will become available after federal authorization and execution of an Option Letter (Exhibit D). It is understood and agreed by the parties hereto that the total cost of the Work stated hereinbefore is the best estimate available, based on the design data as approved at the time of execution of this Agreement, and that such cost is subject to revisions (in accord with the procedure in the previous sentence) agreeable to the parties prior to bid and award. 1. The maximum amount payable shall be reduced without amendment when the actual amount of the local agency's awarded contract is less than the budgeted total of the federal participating funds and the local agency matching funds. The maximum amount payable shall be reduced through the execution of an Option Letter as described in Section 7. A. of this contract. D. Single Audit Act Amendment All state and local government and non-profit organizations receiving more than $750,000 from all funding sources defined as federal financial assistance for Single Audit Act Amendment purposes shall comply with the audit requirements of OMB Circular A-133 (Audits of States, Local Governments and Non -Profit Organizations) see also, 49 C.F.R. 18.20 through 18.26. The Single Audit Act Amendment requirements applicable to the Local Agency receiving federal funds are as follows: L Expenditure less than $750,000 If the Local Agency expends less than $750,000 in Federal funds (all federal sources, not just Highway funds) in its fiscal year then this requirement does not apply. ii. Expenditure exceeding than $750,000 -Highway Funds Only If the Local Agency expends more than $750,000 in Federal funds, but only received federal Highway funds (Catalog of Federal Domestic Assistance, CFDA 20.205) then a program specific audit shall be performed. This audit will examine the "financial" procedures and processes for this program area. iii. Expenditure exceeding than $750,000 -Multiple Funding Sources If the Local Agency expends more than $750,000 in Federal funds, and the Federal funds are from multiple sources (FTA, HUD, NPS, etc.) then the Single Audit Act applies, which is an audit on the entire organization/entity. iv. Independent CPA Single Audit shall only be conducted by an independent CPA, not by an auditor on staff. An audit is an allowable direct or indirect cost. 10/20/20151 TOWN OF VAIN VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: October 20, 2015 ITEM/TOPIC: Any Action as a Result of Executive Session BACKGROUND: This agenda item has been added to the regular meeting agenda in order to allow for any official action required as a result of the executive session. 10/20/2015 TOWN OF VAIN VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: October 20, 2015 ITEM/TOPIC: Town Manager's Report: 1) Management of Frontage Roads 10/20/2015 Towx of vn' 1[1 VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: October 20, 2015 ITEM/TOPIC: Second Reading of Ordinance No. 14, Series of 2015, An Ordinance Repealing and Reenacting Chapter 10-1, Building Codes, Vail Town Code, Adopting by Reference the 2015 Editions of the International Building Code, International Residential Code, International Fire Code, International Mechanical Code, International Energy Conservation Code, International Existing Building Code, Colorado Plumbing Code, Colorado Fuel Gas Code, 2014 Edition of the National Electrical Code, 1997 Edition of Uniform Code for Abatement of Dangerous Buildings and with Regard to the Above -Described Codes, Adopting Certain Appendices. Setting Forth Certain Amendments Thereto, and Setting Forth Details in Regard Thereto. PRESENTER(S): Martin Haeberle, Chief Building Official & Mike Vaughan, Fire Marshal ACTION REQUESTED OF COUNCIL: The Vail Town Council table Second Reading of Ordinance No. 14, Series of 2015 to November 3, 2015. STAFF RECOMMENDATION: The Community Development Department, Fire Department and Building and Fire Code Board of Appeals requests the Vail Town Council table Ordinance No. 14, Series of 2015 to November 3, 2015. 10/20/2015 TOWN OF VAIN VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: October 20, 2015 ITEM/TOPIC: Second reading of Ordinance No. 15, Series 2015, an Ordinance adopting a budget and financial plan and making appropriations to pay the costs, expenses and liabilities of the Town of Vail, Colorado for its fiscal year January 1, 2016 through December 31, 2016. PRESENTER(S): Carlie Smith, Budget Analyst ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No, 15, Series 2015 BACKGROUND: Please see attached memo STAFF RECOMMENDATION: Approve or approve with amendments Ordinance No. 15, Series 2015 ATTACHMENTS: 2nd reading Budget 2016 10/20/2015 TOWN OF Memorandum TO: Vail Town Council FROM: Finance Department DATE: October 20, 2015 SUBJECT: 2016 Proposed Budget Ordinance — Second Reading I. SUMMARY The first reading of Ordinance 15 on October 6th was passed. II. DISCUSSION The following are responses relating to Council's questions during the first reading of the budget ordinance: General Fund Council directed staff to fund a total of $150,000 for the Eagle Air Alliance flight guarantees, with $75,000 funded from the General Fund and the remainder from the Vail Local Marketing District. Council also directed staff to follow up with Vail Resorts regarding the level of cash contribution to this program. During the October 6th meeting, questions arose about the level of funding for the Burton US Open Snowboarding Championship event. Representatives from Burton will attend the October 20th meeting to address those questions. They have also provided event economic impact information as attached. In response to the suggestion of creating a 10 -month employee category, Human Resources is looking into the potential for unpaid time off options for employees in select positions whereby up to a month of unpaid leave could be taken during the "shoulder seasons". An unpaid leave policy may accomplish the same cost savings without creating a new category of employee. In response to concerns of budget sustainability with revenue projections rising at a lower rate than annual expenditures, staff has prepared a historical analysis depicting annual increases in both items (see attachment A). Over the past five years (2010 — 2014), the town has averaged annual revenue increases of 3.7% and annual expenditure increases of 3.5% in the General Fund. The proposed 2016 budget for the General Fund projects an increase to revenue of 5.7% and an increase in expenditures of 4.7%. Across all funds, revenue has increased on average 3.0% over the past five years. While sales tax collections have had solid annual increases since the economic downturn, this has been offset by more volatile revenue sources such as Real Estate Transfer Tax, property tax and construction -related fees. Capital Projects Fund Council directed staff to eliminate the $200,000 placeholder for the Vail interactive map. 10/20/2015 TOWN OF VAIL 2016 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERALFUND 2015 World Alpine Ski Championships 2008 2009 2010 2011 2012 2013 2014 2015 2016 5 -year average Actual Actual Actual Actual Actual Actual Actuals Amended Proposed (Actual since 2010) Revenue (375,000) (375,000) (375,000) Burton US Open 6% 4.5% (400,000) Local Taxes: 19,631,366 16,913,338 17,717,619 $ 19,581,415 20,046,454 $ 21,999,999 $ 23,881,131 $ 24,486,000 $ 25,588,000 Sales Tax Split b/t Gen'I Fund & Capital Fund 59/41 52/48 57/43 54/46 58/42 59/41 60/40 62/38 62/38 Castle Peak Senior Care Facility Sales Tax 11,640,000 8,760,000 $ 10,143,624 $ 10,859,000 11,530,000 12,971,000 14,322,000 15,181,000 15,865,000 (3,742,673) Property and Ownership 4,309,622 4,506,491 4,951,386 5,031,770 4,157,279 4,227,966 4,358,411 4,301,000 4,913,000 Ski Lift Tax 3,277,703 3,048,011 3,357,717 3,529,125 3,433,686 4,007,908 4,351,624 4,418,700 4,728,000 Franchise Fees, Penalties, and Other Taxes 1,075,209 944,084 1,040,425 1,073,138 1,003,318 1,083,169 1,121,455 1,158,779 1,181,160 249,298 Licenses & Permits 3,903,026 1,440,972 1,387,337 1,136,966 1,470,588 1,524,915 2,747,488 1,538,267 1,594,254 $ 23,002,885 $ 23,423,417 Intergovernmental Revenue 1,706,197 1,611,570 1,929,121 2,066,191 1,875,027 1,827,216 2,010,236 1,842,692 1,882,916 Transportation Centers 4,816,505 4,975,795 5,037,042 4,023,940 3,453,836 4,170,065 4,543,399 4,023,264 4,225,000 Charges for Services 1,000,733 717,653 875,627 962,342 975,305 843,589 947,267 933,812 1,001,236 Fines & Forfeitures 396,707 330,660 271,561 265,575 251,501 227,420 207,723 263,404 250,942 Earnings on Investments 571,073 170,353 119,049 188,848 177,991 34,458 158,770 108,236 160,000 Rental Revenue 949,961 912,091 862,151 895,872 832,134 918,691 1,044,463 908,847 990,556 Miscellaneous and Project Reimbursements 163,025 243,991 386,271 477,845 500,936 392,249 215,122 305,000 182,000 Total Revenue 33,809,761 27,661,671 30,361,311 30,510,613 29,661,601 32,228,646 36,027,958 34,983,001 36,974,064 % increase vs. prior year -18.2% 9.8% 0.5% -2.8% 8.70/0 11.8% -2.9% 5.7% 3.7% Expenditures Salaries 13,319,994 13,357,585 13,045,680 13,122,291 13,355,939 13,829,733 14,630,258 16,108,936 16,890,517 Benefits 4,404,800 4,555,786 4,622,295 4,483,006 4,831,242 4,855,709 5,041,460 5,774,964 6,236,673 Subtotal Compensation and Benefits 17,724,794 17,913,371 17,667,975 17,605,297 18,187,181 18,685,442 19,671,718 21,883,900 23,127,190 Contributions and Special Events 1,366,668 1,333,890 1,283,494 1,278,453 1,499,782 1,640,766 2,068,595 2,111,264 2,270,994 All Other Operating Expenses 7,038,794 4,892,123 4,990,731 5,524,989 5,857,957 6,470,525 6,597,626 7,444,029 7,773,781 Heavy Equipment Operating Charges 2,351,269 1,929,721 1,993,320 2,196,237 2,129,048 2,187,170 2,332,918 2,365,917 2,221,467 Heavy Equipment Replacement Charges 635,903 632,271 697,630 537,417 530,560 586,199 580,890 592,884 618,120 Dispatch Services 533,164 539,763 522,213 537,827 572,706 568,854 590,961 630,588 663,214 Total Expenditures 29,650,592 27,241,139 27,155,363 27,680,220 28,777,234 30,138,956 31,842,708 35,028,582 36,674,766 % increase vs. prior year -8.1% -0.3% 1.9% 4.0% 4.7% 5.7% 10.0% 4.7% 3.5% Revenue Over (Under) Expenditures 4,159,169 420,532 3,205,948 2,830,393 884,367 2,089,690 4,185,250 (45,581) 299,298 2015 World Alpine Ski Championships (250,000) (250,000) (250,000) (250,000) (250,000) Pro -cycling event (75,000) (75,000) (75,000) 2015 Nation's Event (375,000) (375,000) (375,000) (375,000) Burton US Open (400,000) Vail's 50th Anniversary (350,000) Timber Ridge Investment (8,000,000) Castle Peak Senior Care Facility - - (200,000) (50,000) Transfer to Capital Projects Fund (441,000) (3,742,673) (1,845,800) (52,000) - - Transfer to Dispatch Services Fund (22,338) Transfer to Winter Marketing VLMD (550,000) Revenue Net of Transfers & New Programs 3,168,169 4205532 (5365725) 659,593 (142,633) (7,010,310) 3,285,250 (692,919) 249,298 Beginning Fund Balance 19,834,717 23,002,885 23,423,417 22,886,692 23,546,285 23,403,652 16,401,973 19,687,223 18,994,304 Ending Fund Balance $ 23,002,885 $ 23,423,417 $ 22,886,692 $ 23,546,285 $ 23,403,652 $ 16,393,342 $ 19,687,223 $ 18,994,304 $ 19,243,602 As % of Annual Revenue 55% 54% 52% 10/20/2015 7�x Ir f, At Table of Contents Introductions & Point of Contacts Revenue and ROI 2015 Marketing Overview Event Budget - 2016Page 9 Burton US Open Snowboarding Championships: Mar 2-7, 2015 Ian Warda Office: 802.651.0486 Mobile: 720.937.5817 lanw@burton.com ILA#, =S r Town of Vail I CSE 1 10/20/15 3 10/20/2015 Estimated Return on Investment: Attendee Expenditures Return on Investment: Funding vs. Impact 2015 event funding $400,000.00 Direct economic impact to TOV $3,081,167.56 Economic impact payback ratio (incremental community economic impact per dollar of event funding) • The daily economic impact per attendee was $143 • The direct economic impact to Vail by attendees was $3,081,167.56 $7.70 ROI to Vail (based on attendees): $7.70 in community economic impact for every dollar contributed in the partnership Direct Economic Impact to TOV per Attendee -Day Restaurants/Bars/ Total Prepared Food Vendors T U a p $300 E� c_, 0 $200 E m 0 o Q $100 o U UJ a $0 Town of Vail I CSE 1 10/20/15 $65 Lodging Shopping $31 $27 Recreation (skiing, lessons, rentals, etc.) W --1 $12 Other items excluding lodging 1 10/20/2015 4 Estimated Return on Investment: Tax Revenue • It can be inferred that the USO continues to be a strong contributing factor in the positive growth seen with local tax revenues over the last three years. In 2015, tax revenues came in at a historic high, up 2.7% or $108,339 from budget and up 7.1% or $269,159 from March 2014. 2015 $3,586,776 $4,057,344 2014 $3,477,419 $3,778,625 2013 $3,209,239 $3,690,232 0 . TOWN OF VAILt Town of Vail I CSE 1 10/20/15 5 10/20/2015 Estimated Return on Investment: Parking Revenue Vail Village 81599 6,913 61803 71692 Ca rs Vail Village $ $66,014.30 Lionshead Cars 5,449 Lionshead $ Total Revenue $55,723.80 $121,738.10 $59,486.00 4,893 $49,170.00 $108,656.00 $58,925.00 4,596 $43,222.00 $102,147.00 $70,243.00 4,863 $51,445.00 $121,668.00 • The 2015 USO also helped generate increases in local parking revenues, up 12% from 2014. kI TOWN OF U'A1L# Town of Vail I CSE 1 10/20/15 6 10/20/2015 Brief descriptiun or the estimated benefits to the Town orva including an estimated f or incremental ruum niubb and increased spcndinl; generated by the 2015 Burton US Open. Estimated Incremental Ruum Nights. and Revenue Generated by the 2015 Burton US open ar5nowboarding. 2015 Estimated Incremental Spending fncrrrternrulHuonr ti'iylers li'stimaled total cvnnt altcndancr: 21,500 (Unique Aucndres) Those who camejuar far the event_ 60% Overnight Visitors to Region: 5L% Overnight Visitors staying in Vail lodging: 69% Average nights stay in Vaal: 5 Total Incremental Roam Nights: 11,349- ('Double ticcupancc, 2ppi mum) IACrPln—wf Sp—ding Eslimatcd auentlance per day: 5,375 Average amuunt spent: S112 Event Days: 4 (Duns nut include practice days) Total Incremental Spending; S2A08,000 Average ludbing price per night: S5-1 (Murch `15 ADR provided by 70� i Incremental mum nights: L L.349 Subtotal spent an lodging: $6,139,809 Number of days in Vail nut Fur event: 1.0 \'urnber of people slaying additiunal days: 2,150(10%) Average amuunt spent per day: S t 12 Subtolal spenl on nun -went days: $24U,800 Total Estimated Incremental Spending: 58,788,609 2015 Town 0f VIiI Estimated Return ua Investment Town or Vail 2015 Innes tmcnt $400,000 Total Value of TR impressions (1.755,72].717 prim. digital, suciai and broademl impressivas) + the estimated saluv lu Vail for plubxl TV exposure (based un 2014 figurm) Return on lnveslment via YR Event Related Impressions Est. Incremental Ruum Nights Generated (Double Occupancy) Est. Incremental Spending Generated Tax Receipts (Lodging - 41%) Tax Receipts (Sales - 4%) Tax Receipts (Vail Local Marketitig District - Lodging Only 1.41%) Tuwl Tawn of Vail Tax Receipts As a percentage of Total TOV March Tax Receipts Return on lnreslment through Incremental Spending in the Town of Vail k $24.841.502 6044-1 11,349 S8,788,609- 5245,592- 5105,952 S85,957- S437,501 - 10% 9% C6C +►1J rn�� CV Q. rn� `V �F zj 0 Z BURTON U•S-OPEN SNOWBOARDING CHAMPIONSHIPS TOTAL U•S•OPEN IMPRESSIONS ........ 16,168,048,842 SPECTATORS ............................ 65,396 MEDIA IMPRESSIONS Print........................................................... 11,189,591 Broadcast...................................................... 104,633,991 Online........................................................ 1,639,900,135 TV IMPRESSIONS USO TV Distribution (potential HH including all airings for over 695 transmissions)......... 14,341,366,935 —Verified audience of 36.85 Million in 10 monitored and analyzed key markets. Please see the USO Repucom Report for further anal9sis ** WEBCAST IMPRESSIONS USO Webcast Views ................................................... 201,030 SOCIAL/DIGITAL MARKETING Front Range Cable TV (Comcast, Direct, Dish Network) .......................... 843,000 BurtonUS Faceb0A................................................. Burton US Twitter .................................................. 7,411,232 19,422,905 PRINT ADVERTISING • Burton lnstagram.................................................. 13,045,584 OUT OF HOME ADVERTISING BurtonYouTube.................................................... 1,195,314 Colorado Convention Center Digital Billboard - 1126 - 218 ....................... 211,316 Red Bull Social Channels ............................................. 4,280,493 Westword Online E. Newsletter ............................................ 25,168 World Snowboard Tour Facebook.......................................... 184,607 , World Snowboard Tour Instagram........................................... 3,325 Vail Facebook ....................................................... 450,171 Vail Twitter......................................................... 409,844 Vail Inst agram ..................................................... 1,611,000 Burton.com....................................................... 2,956,233 BROADCAST ADVERTISING Front Range Cable TV (Comcast, Direct, Dish Network) .......................... 843,000 TV8............................................................... 800,000 PRINT ADVERTISING Total Print Ad Impressions ........................................... 15,247,816 OUT OF HOME ADVERTISING Idaho Springs Billboard - 219 - 318 ........................................ 807,240 Colorado Convention Center Digital Billboard - 1126 - 218 ....................... 211,316 Loop Rides.......................................................... 765,000 Westword Online E. Newsletter ............................................ 25,168 GRASSROOTS MARKETING Event Collateral ....................................... .............. 123,516 KZYR THE ZEPHYR Radio Advertising ....................................... 168,000 KMST Radio .......................................................... 60,000 KKCH Radio......................................................... 320,000 Pandora............................................................ 350,000 n rn N O N O F_ N In 2016 US Open Budget Marketing Social / Digital Marketing campaign Print Ads Radio Ads TV Buy Grassroots Marketing Campaign Retail Marketing Music Licencing TTR Fees Television Production Televison Time Buy Webcast Production TV/Webcast Satellite Event Production - Event Collateral In -Town Activations Kickoff event Signage On -Site Activation Party Production and Talent Speedrail Fencing Event Infrastructure Event Staff Shipping Apparel/ Backpacks Prize Money Storage Porta Potties Storage Containers Bicycle Barricade Chemicals Conduit Equipment Rentals Trash Electricians Snowmaking Resort Labor Diesel / Propane Internet Charges Office Supplies / Equipment Miscellanious Resort Expenses SPT Service Fee Rail Build Machine Use and Labor Registration and Scoring Tents Sound Jumbotron Lighting Stage Security Scaffolding Office Trailers Power Distribution Radios Medical Consultation Rider Shuttles Event Production Travel / Lodging / Meals Catering / Meals / Hospitality Conference Services Lodging Travel Transportation $ 1,010,400 $ 20,000 $ 13,000 $ 12,400 $ 20,000 $ 15,000 $ 20,000 $ 12,000 $ 30,000 $ 563,000 $ 200,000 $ 90,000 $ 15,000 $ 2,721,500 $ 63,000 $ 60,000 $ 31,000 $ 85,000 $ 79,000 $ 221,000 $ 30,000 $ 42,500 $ 58,000 $ 5,000 $ 50,000 $ 342,000 $ 5,000 $ 1,500 $ 6,500 $ 5,800 $ 2,000 $ 2,500 $ 7,200 $ 3,400 $ 5,700 $ 176,000 $ 72,000 $ 40,700 $ 4,200 $ 2,000 $ 25,000 $ 129,000 $ 42,000 $ 67,000 $ 42,000 $ 82,000 $ 79,500 $ 75,000 $ 25,000 $ 30,000 $ 100,000 $ 104,000 $ 15,000 $ 54,000 $ 14,000 $ 12,000 $ 9,000 $ 416,000 $ 975,000 $ 150,000 $ 28,000 $ 743,500 $ 38,500 $ 15,000 Lp 1�11►�~� otal $ 4,706,900 21.47% 57.82% 20.71% TOWN OF VAIL 2016 PROPOSED BUDGET 2nd Reading of Ordinance No. 15, Series 2015 October 20, 2015 10/20/2015 Town of Vail Proposed 2016 Budget Table of Contents 2016 Budget Highlights 1 Major Revenue Analysis 12 Summary of Changes in Personnel 13 Ten -Year Summary of Budgeted Positions by Department 14 Employee Benefits Summary 16 This report shows the list of employee benefits by percentage and costs. General Fund Revenue and Expenditures 17 This schedule shows the major revenue and expenditures by category in the General Fund Contributions and Special Events 19 Capital Projects Fund Revenue and Expenditures 25 This schedule shows revenue by type and expenditures by project in the Capital Projects Fund for 2015, Proposed 2016, and 2017 - 2020 plan Real Estate Transfer Tax Fund Revenue and Expenditures 28 This schedule shows revenue by type and expenditures by project in the RETT Fund for 2015, Proposed 2016, and 2017 - 2020 plan Unfunded Projects 31 This schedule shows a listing of potential future projects that are currently not reflected in the proposed budget or long-term plan Marketing (Business License) Fund Revenue and Expenditures 32 Conference Center Fund Revenue and Expenditures 32 Heavy Equipment Fund Revenue and Expenditures 33 Health Insurance Fund Revenue and Expenditures 33 Dispatch Services Fund Revenue and Expenditures 34 Timber Ridge (Enterprise) Fund Revenue and Expenditures 35 10/20/2015 Financial Overview The Town of Vail 2016 budget proposal presented in this document reflects the town's vision to be the premier international mountain resort community in a fiscally responsible manner. There are no dramatic changes proposed from the current year, and continues to provide the high level of service the town is known for in both day-to-day operations and special event support. The Town is underway with several major capital projects, including a renovation of the Clubhouse at the Vail Golf Course and Nordic Center, construction of a new 1-70 Underpass, a new skate park at Lionshead and the reconstruction of Booth Creek Park. Historically the town has funded all capital projects through the Capital Projects Fund, and later through the Real Estate Transfer Tax fund for eligible projects. Now the town has more options and several of the town's more recent (and future) major projects have other sources of funding including: Vail Reinvestment Authority bonds and other Tax Increment Financing (TIF) revenue and cost sharing with the Vail Recreation District. The various sources of funding for capital projects has enabled the town to cash -fund many projects, while building reserves for the town. Vail Reinvestment Authority (VRA) is the only town entity with outstanding long term debt, with $11.6 million in bonds issued in 2010. These bonds are scheduled to be paid off by 2030, and are repaid with incremental property taxes collected within the Lionshead tax -increment financing district. The bonds funded such improvements as the Lionshead Transit and Welcome Centers, entry portals into the Lionshead Village, renovation of the Vail Library, a new entrance into the Lionshead parking structure and reconstruction of the Sundial Plaza in the Lionshead Mall area. The projected 2016 budget results in an operating surplus of $299,298 before funding of $50,000 to Castle Peak Senior Care contingent upon other municipalities matching funds. After funding this from town reserves, the General Fund balance at the end of 2016 is projected at $ 19.2 million, or 52% of annual revenues. REVENUE The town's 2016 budget is funded by a projected $63.3 million net revenue budget. Net revenues exclude inter -fund charges and transfers. 2016 projected revenues are 0.7% higher than 2015 amended and a 2.5% decrease from 2014. The below chart identifies the various sources of town revenue: 10/20/2015 Rent, Fines & Miscellaneous 6% Charges for Services 3% Transportation Centers 7% Financial Overview 2016 Net Revenue Projection: $63.3M Transfer from VRA 6% —\ Licenses MW and ReaR Estate Transfer Permits Tax 3% 10% Ski Lift Tax Franchise Fees 9% Intergovernmental Revenue 5% Earnings on Investments 1% LOCAL TAXES: Six revenue sources make up local taxes and generate 70% of the town's annual revenues: sales tax; property and ownership tax; use tax; ski lift tax; real estate transfer tax; and franchise fees. A 4% general sales tax will produce approximately 40% of annual revenue for 2016. The $25.6 million of sales tax is projected at an increase of 4.5% from the amended budget for 2015 and a 7.1 % increase from 2014. Sales tax revenue is influenced by a number of factors including the general economy, tourism and snowfall, special events and redevelopment activity. Sales tax revenue is seasonal, with approximately 70% of the total generated during the ski season which is defined as November through April. The chart below compares sales tax growth with inflation. The town typically outpaces inflation, with the exception of the economic downturn in 2009 and 2010. However, annual sales tax growth in 2014 significantly outpaced inflation. 2 10/20/2015 26.0 24.0 22.0 20.0 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 Financial Overview Sales Tax Compared with Inflation 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Budget 288.0 270.0 252.0 234.0 216.0 198.0 1180.0 L Q 162.0 E 144.0 „ 126.0 U a 108.0 90.0 72.0 54.0 36.0 18.0 Vail Reinvestment Authority (VRA) was created on November 4, 2003 to oversee development and redevelopment of identified blighted areas within the town. The Authority is funded with incremental property tax collected on redeveloped properties within the district. The VRA will reimburse the town's Capital Projects Fund for various capital projects in Lionshead. For 2016 this includes the town's portion of the 1-70 Underpass. These funds, totaling $3.5 million in 2016, represent approximately 5.5% of funding available for town spending. In prior years these funds have provided up to 13% of annual town revenues. Real Estate Transfer Tax (RETT) is a 1 % tax on transfers of property within the Town of Vail. This tax is the primary revenue source in the Real Estate Transfer Tax Fund whose use is restricted to parks, recreation, open space, and environmental sustainability. Real Estate Transfer Tax collections of $6.5 million represent 10% of total annual revenues. This is a 5% increase from the 2015 amended budget. Property and Ownership Tax of $4.9 million will generate 8% of total revenues for 2016. 2016 revenues are projected to increase 14.2% from 2015 amended based on the most recent report from the County Assessor's office. The current base mil levy is 4.69 and constitutes 10% of the average taxpayer's property tax bill. In November 2000, Vail's electorate approved lifting the revenue limitation placed on property tax revenue by the Tax Payer's Bill of Rights (TABOR) approved by Colorado voters in 1992. Property values are reassessed every two years, providing potential increases or decreases in the even years. However, the base mil levy cannot be increased without a vote. 3 10/20/2015 Financial Overview Use Tax collections are estimated at $1.5 million for 2016, a 14% decrease from 2015 amended budget due to several large projects in 2015. The estimate is based on a five- year history, and does not assume any major redevelopment projects. Both 2014 and 2015 included major redevelopment projections such as the Strara, Marriott Residence, the Eastern Portion of Timber Ridge (now known as Lionshead) and redevelopment of the Vail Valley Medical Center. In November 2007, voters approved the implementation of a 4% construction use tax effective January 1, 2008. Revenue from this source is allocated to the Capital Projects Fund. Ski Lift Tax and Franchise Fees total $5.9 million and $1.2 million, respectively for 2016, representing 9% of the total annual revenue. The town assesses a 4% tax on all admissions to the Vail ski area. The town also collects franchise fees from all the major utilities operating in the Town of Vail. The fees are collected and paid by the local gas, electric, telephone, and cable television companies. The rate is established by ordinance and is different for each utility type. Lift Tax was projected with a 7% increase over the 2015 amended based on a 5 -year history and new mountain activities. All franchise fees are projected based on historical trends, and are accounted for in the General Fund. LICENSES AND PERMITS are expected to generate approximately $1.9 million, or 3% of total revenues in 2016, up 3% from the 2015 amended budget. This revenue source can fluctuate from a few large commercial and residential construction projects. The 2016 projection is based on historical averages. Licenses and permits are General Fund revenues with the exception of the business license fee and recreational amenities fee as described below. Construction Fees, which include building permits, electrical, mechanical, and plumbing permits, design review fees, plan check fees, variances, etc., are the largest component of the license and permit category. Construction fees alone are budgeted at $1.5 million in 2016. The Business License Fee is restricted by ordinance for marketing and is recorded in the Marketing Fund. This revenue of $332,000 is budgeted flat with the 2015 budget. The Recreational Amenities Fee is assessed on new residential square footage. It is accounted for in the RETT Fund and its use is restricted to parks, recreation, open space, and environmental sustainability. With no major redevelopment projects assumed, this fee is budgeted conservatively at $10,000 in 2016, flat with 2015 amended budget. Actual collections were approximately $338,000 in 2014 due to a major redevelopment project. INTERGOVERNMENTAL REVENUE supplies 5% of the total revenue ($3.2 million) and includes federal and state grants, county sales tax, county road and bridge tax, highway users' tax, cigarette tax, and E911 Authority Board. Revenue forecasts are obtained from the contributing agencies or estimated based on trends. Federal and state grants are recorded in the Capital Projects Fund, RETT Fund or the General Fund depending upon their purpose. Lottery revenue is recorded in the RETT Fund and all other intergovernmental revenue goes to the General Fund. The E911 Authority Board is a conduit managed by Eagle County to fund emergency communications from the surcharges it collects on phone bills. In 2016 the E911 board will pay salary and benefits for the equivalent of two dispatch supervisors, six M 10/20/2015 Financial Overview dispatchers and a systems engineer in the Vail Communications Center. From 2010 through 2015, the E911 board covered eight dispatchers plus 2 supervisors and one systems engineer to help participating agencies with the impact of the economic downturn. In 2015, the number of dispatchers covered was reduced back to seven and will again be reduced in 2016 to six. The agencies are covering the cost through increased fees. 2016 contribution from the E911 board totals $742,627 and is accounted for in the Dispatch Services Fund. County Sales Tax The town receives fifteen percent (15%) of a 1% general retail sales tax levied by Eagle County. This payment is pursuant to an enabling ballot question approved by the voters and applies to all of the towns within the county. Collections budgeted for 2016 total approximately $819,000. County Road & Bridge The town collects a portion of the county's mil levy for road and bridge based upon Colorado State Statutes. County road and bridge revenue for 2016 was budgeted based on the prior two year history, at $749,000. This revenue is dependent upon what Eagle County sets for a road and bridge mil levy and the assessed valuation for the town. Highway Users' Tax The State of Colorado shares a portion of its gasoline tax based upon the town's miles of roads in proportion to other municipalities in the state. This revenue of $212,000 is budgeted at a slight increase with amended 2015 budget based on information provided by the Colorado Municipal League. TRANSPORTATION CENTERS located at Lionshead and in the Village generate 7% of total revenues and are budgeted at $4.2 million for 2016, a 5% increase from 2015 budget and a 6.7% decrease from 2014 (a very strong year). This revenue source has declined since 2010 (with a record $5.0 million) primarily due to an increased supply of parking from both public and private amenities. Daily parking fees and parking passes during ski season are the largest sources of this revenue. CHARGES FOR SERVICES comprise 3% of the town's annual revenue. The largest sources in this category include dispatching contracts and a contract with the Colorado Department of Transportation (CDOT) for maintenance of the frontage roads. EARNINGS ON INVESTMENTS currently generate less than 1% of the annual revenues. The town's investment policy priority is safety, followed by liquidity and return. EXPENDITURES The town's expenditure budget for 2016 is $72.4 million excluding inter -fund transfers and charges. This is a 7.4% decrease from the 2015 amended budget, mainly due to a decrease in capital projects spending. 2015 included larger projects such as Ford Park playground improvements, guest service enhancements, and the recreation path reconstruction behind the Vail Town Library that will be completed in 2015. Included in the 2016 amounts are capital projects that will be reimbursed from the Vail Reinvestment Authority. Fifty-nine percent of the expenditures are to provide municipal services and forty-one percent to fund capital improvements. 10/20/2015 Financial Overview Where the Money Goes 2016 Expenditures $72AM Debt Service Of Capital Municipal Improvements Services 41% 1111 59% Within municipal services, 28% of spending is for public safety, including 12% for the Vail Police Department, 6% for Vail Public Safety Communications (which is county- wide) and 10% for Fire prevention and suppression. Fifteen percent of the total is spent on transportation and parking, which includes the free bus system and free and paid parking in the parking structures and at the Ford Park softball and soccer fields. Public Works and Streets account for 11 % of spending. This includes daily repairs and maintenance of the town's infrastructure and support of special events, but not new capital or items that extend the life of existing capital. Facility and fleet maintenance at 10% includes daily repairs and maintenance of town -owned buildings and equipment and operation of the Donovan Pavilion, Lionshead Welcome Center and Grand View, but again not new capital or items that extend the life of existing capital. Where the Money Goes Municipal Services by Area Facilities & Fleet Maintenance 10% AA Transportation & Parking Parks & AIPP 4% Public Works & Streets 11% Contributions, Marketing, & Special Events 7% Health and Emloyee Housing `` 2% Library 2% Di Public Safety Communications 6% Town Officials 4% Administrative Services & Risk _Community Management Development 11% 6% 10/20/2015 Financial Overview Another way to look at how the town spends its money is to look at expenditures by category. The major categories within municipal services are Salaries; Benefits; Contributions, Marketing and Special Events; and Operating, Maintenance and Contracts (All other Operating Expenses). Salaries, which represent about half the total expenditures, include full-time, part-time and seasonal salaries, overtime, bonuses, and special pay categories. Benefit costs include: health insurance, disability coverage, worker's compensation, pension, life insurance, unemployment, Medicare and wellness or ski pass package. Contributions, Marketing, and Special Events include the funding provided by the town to local non-profit and marketing organizations as well as the Commission on Special Events. This category does not include marketing expenditures of the Vail Local Marketing District, which are reported separately. Included in the category of operating, maintenance and contracts are: utilities; property and liability insurance premiums; fuel and parts for vehicles; other professional fees; repairs and maintenance for facilities and equipment; office and general operating supplies; and operating leases and rentals. Where the Morey Goes Municipal Services by Category All Other Operating - Expenses 30% 'e. Salaries 46% Contributions, Marketing, enefits Special Events 7% The town's staff includes three basic categories of employees: 1) full-time regular, 2) fixed term and/or externally funded, and 3) part-time or seasonal. Full-time regular staff positions are fully funded by the town, generally work 40 hours per week, and have a full benefits package. Fixed -term and/or externally funded positions may be full or part-time with negotiated benefits and are filled for a period of time determined by workload and/or contract or until external funding is no longer available. Part-time employees work 30 hours a week or less and seasonal employees work 40 hours a week, but less than half a year in a position. The town reports staffing in terms of full-time equivalents or FTE's to provide a common measure. One FTE equals 40 hours a week or 2,080 hours a year. For example, a part-time employee working 20 hours equates to .5 FTE and a seasonal employee working four months a year equates to .33 FTE. 7 10/20/2015 350 300 250 200 150 100 50 0 Financial Overview BUDGETED POSITIONS BY TYPE (Full-time Equivalent Positions) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 OF uI�Time Regular Base Force ■Seasonaland Part -Time Positions OF ked -Term and E xternalty F u nded Positions The town's operations are supported by 300.3 full time equivalent (FTE) positions in 2016, up 12.17 from 2015. Of these, 259.5 are full-time regular employees. The majority of the increase in headcount (7.16 of the 12.17) is to account for current personal already providing services previously approved by Council, such as increased bus service during the summer months and parking hosts that not only direct guests when entering the parking structure, but also monitor structure capacity and cleanliness. The remaining shifts in headcount include 2 full-time maintenance workers offset by the elimination of a seasonal maintenance worker (.46); Conversion from seasonal to full time a heavy equipment operator/irrigation tech, offset by the elimination of 2 seasonal positions (net impact +.02 FTE); the addition of 1 full time Police investigator; conversion of a contracted special events position to 32 -hour work week regular employee (0.5); conversion of a Human Resources coordinator to full-time from seasonal (0.5); extending the season for 2 out of 6 Forest Health Crew who previously worked a shorter season (0.5); an increase in Fire Department headcount by 1 fire fighter; increase hours in seasonal Library staffing (0.2); and the elimination of an intern position (-0.25). SALARY AND WAGES The 2015 budget includes funding for performance based merit increases for full-time employees (up to 5%). Most employees are eligible for merit increases on June 1. BENEFIT COSTS Employee benefits are projected at $7.6 million, representing 40.8% of base salary expense for 2016. For full-time employees, benefits average 41.0% of salary and for seasonal employees, benefits average 38.7% of wages. These cost estimates include the impact of the Affordable Care Act. The largest single component of benefit cost is 10/20/2015 Financial Overview health insurance at 50.4%. The town is self-insured and has stop -loss coverage from an outside insurer to protect against significant claims. Coverage is offered to full-time employees and their dependents, as well as employees qualifying under the Affordable Care Act. Health care expenditures are recorded through the Health Insurance Fund. The next largest component of the benefits cost is employee pension comprising 35.4% of the total benefits. The town's full-time pension plan contribution ranges from 11.15% to 17.15% of salary, depending on length of service. Seasonal and part-time employees receive a 1.5% contribution. The contribution for full-time employees is somewhat higher than most private sector employers because town employees are not part of the Social Security system. Pensio 36% Benefits Costs Medicare wellness Benefit 2016 $7.6M 3% 2% Insurance Life, Disability, 4% and Unemployment Insurance 5% trance CAPITAL IMPROVEMENT PROGRAMS The capital improvement programs include purchases of property and equipment and improvements or capital maintenance that extend the asset's useful life. The majority of capital costs are incurred in the Capital Projects and Real Estate Transfer Tax (RETT) Funds. Heavy equipment replacement vehicles, except for buses and fire trucks, are purchased from the Heavy Equipment Internal Services Fund. Capital items costing less than $5,000 are included in the General Fund by department. The Facility Maintenance and Parking Structure capital maintenance projects are included in the Capital Projects Fund. The town prepares a five-year capital plan for the Capital Projects and RETT Funds. The capital improvements program reflects the town's vision to be "the premier international mountain resort community." Total Capital Improvement Programs from both the Capital Projects Fund and RETT Fund are budgeted at $29.7 million in 2016. 0 10/20/2015 Financial Overview Real Estate Transfer Tax Fund Projects In addition to ongoing annual operating costs of $2.9 million, Council has agreed to another $154,010 in contributions to non-profit organizations eligible for funding under the "Services" tier of Council contributions, such as the Betty Ford Alpine Gardens and Walking Mountains. Other noteworthy projects include: construction of recreational courts at Golden Peak ($1.1M), water quality and storm water improvements ($1.0M), and redevelopment of Booth Creek Park ($2.1 M). Additional details are shown in the Real Estate Transfer Tax Fund Five -Year Projection. Capital Project Fund Projects Noteworthy projects for 2016 include: Annual capital maintenance of town facilities, parking structures, technology and streets totaling $2.7M; various equipment for the police department including external defibrillators in police cars ($9.9K), a public safety ID printer ($8.7K), and 20 body worn cameras ($69.6K); East Vail Fire Station renovations ($1.5M); the replacement of 8 buses ($3.5M); and major bridge repairs to West Forest Bridge and Kinnickinnick (West) Bridge ($350K each). Council agreed to include a $500,000 contribution to the Colorado Ski Museum towards a reconstruction of the facility. A renovation to the municipal building is proposed at an estimated $5.0 million for 2016. Projects within Lionshead that will be funded by the Vail Reinvestment Authority include $3.25 million (town's share only) to begin construction of a new 1-70 underpass, as well as design work on enhancements to the Dobson Plaza and to improve the connection between the East Lionshead Circle bus stop and Dobson Arena ($100K each). Additional details are shown in the Capital Projects Fund Five -Year Projection included in the Appendix. Heavy Equipment Fund This is an internal services fund that manages the maintenance and repair of town vehicles and equipment and the purchase of replacement vehicles other than buses and fire trucks. Costs are charged back to the departments based on their use of the vehicles and equipment. The Heavy Equipment Fund (HEF) includes approximately $821,400 to purchase various vehicles in 2016. The vehicles are scheduled to be replaced at determined intervals. Funding for the HEF consists of charges to departments using the equipment and sales or trade-ins of old equipment. Timber Ridge Enterprise Fund The 10 acre property at Timber Ridge is owned by the town, with the eastern half of the property under lease to Lion's Ridge Apartment Homes with no lease payment for ten years. The Timber Ridge Enterprise Fund includes only the operating budget for the western half of the property (96 units, with 54 units under master lease to Vail Resorts). The 2016 proposed budget reflects a surplus of $86,628 after payment of all operating expenses, principal and interest due to the capital projects fund, and $236,000 set aside for capital projects. Specifically the capital improvements include the first phase of Vail Resort's leased units (18 units of the 54). The improvements are tentatively planned over a 3 -year timeframe and will be offset by rent increases for those units. FUND BALANCES Projected fund balances for all funds at 12/31/16 are $40.8 million compared to $49.9 million projected for the year ending 12/31/15. The ending fund balance of the General Find is projected at $19.2 million, representing 52% of annual revenues. It is recommended that the General Fund be at least 25% of the budgeted revenues. The 10 10/20/2015 Financial Overview Capital Projects Fund and RETT Fund are projected to have ending fund balances of $13.6 million and $2.0 million, respectively at the end of 2016. BONDED DEBT The town celebrated the final payoff of bonds originally issued to fund construction of the parking structures in Vail Village and Lionshead at the end of 2012. The payoff eliminated approximately $2.0 million per year in the town's Capital Projects Fund previously used for annual debt service payments. During 2010, the Vail Reinvestment Authority (VRA) sold $11.9 million in bonds for public improvements in Lionshead. Two series of bonds were issued to take advantage of Build America Bonds (BABs) which reduce the overall interest cost due to a subsidy paid by the federal government. Using the BABs will save the VRA approximately $700,000 of interest. Net interest cost to the VRA for these bonds is 4.2%, with the Series 2010A bonds having a final maturity of 2018 and Series 2010B bonds having a final maturity of 2030. 11 10/20/2015 Major Revenue Analysis 2016 Proposed Budget 10/20/2015 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Actual Actual Actual Actual Actual Actual Actual Actual Amended Proposed Comments General Sales Tax 18,913,138 19,631,366 16,913,338 17,676,115 19,581,414 20,046,455 21,999,999 23,881,130 24,486,000 25,588,000 2016 proposed at 4.5% increase from 2015 amended budget 5.2% 3.8% -13.8% 4.5% 10.8% 2.4% 9.7% 8.6% 2.5% 4.5% RETT Tax 6,536,118 9,091,917 2,513,481 6,950,701 4,403,706 5,452,937 4,725,589 6,849,449 6,190,000 6,500,000 2016 5% increase from 2015 forecast; YTD 2015 is pacing behind of 2014 at this time by 3% 4.7% 39.1 % -7241/. 176.5 % -3660/. 238% -13.3 % 4490/6 -960% 5.00/6 2016 still a 5% decrease from 2014 actual, a record year since 2010 Parking Revenue 4,618,882 4,816,505 4,975,795 5,037,042 4,023,940 3,453,836 4,170,065 4,528,137 4,023,264 4,225,000 Up 5% from 2015 budget; still 6.7% less than 2014, a very strong year 12.7% 4.3% 3.3% 1.2% -20.1% -14.2% 20.7% 17.9% -11.1% 5.0% Property $ Ownership Tax 3,012,030 4,309,622 4,506,491 4,951,386 5,031,770 4,157,279 4,227,966 4,358,411 4,301,000 4,913,000 13% increase from 2014 actual collections; has been updated for latest County Assessor report 2.8% 43.1 % 4.6% 9.9% 1.6% -174% 1.71/6 0.1% -1.3% 14.2% Final report expected in November Lift Tax Revenue 3,039,619 3,277,703 3,048,011 3,357,717 3,529,125 3,433,686 4,007,908 4,351,624 4,418,700 4,728,000 2016 proposed at 7% increase from 2015 budget based on prior 5 -year history; 8.6% increase from 2.2% 7.80/6 -70% 10.2% 5.10/6 -271/6 16.70/6 15.1 % 1.5% 7.01/o 2014 actual; anticipate slightly higher than average increase due to new summer activities Construction Fees 4,992,752 3,799,444 1,341,731 1,272,606 985,377 1,333,681 1,404,928 2,608,807 1,435,464 1,476,417 Up 3% from 2015 budget. 43.4% -2390/6 -647% -5.21/. -22.6 % 3530/6 5.3% 4.40/6 -450% 2.91% No major redevelopment projects assumed Construction Use Tax - 608,483 713,582 1,103,119 721,002 1,221,734 1,360,585 1,803,853 1,800,000 1,545,000 2016 down from 2015 forecast because both 2014 and 2015 included major redevelopments. N/A 17.30/6 54.60/6 -34.6% 69.40/6 11.4% 0.20/6 -0.2% -14.21/. Other Taxes 1,399,739 1,644,975 1,545,535 1,711,350 1,806,708 1,672,112 1,735,016 1,829,591 1,826,952 1,882,916 County sales tax (based on TOV sales tax), Road R Bridge, Hwy users revenue, etc. 2.4% 1751/6 -6.0% 10.70/6 5.6% -740/6 3.8% 5.60/6 -0.1 % 3.1% Federal / County Grants 59,542 - 203,765 3,785,144 1,596,040 916,067 82,630 474,399 897,582 544,800 2015 includes federal grants for bridges at Nugget Lane and Bridge Road ($358.8K) and -96.6% N/A 1757.6% -57.81/. -42.60/. -91.0% -45.6% 89.20/6 -39.39/o CDOT funding oft -70 underpass $538.8K;2016includes federal grants for bridges at Nugget Lane and Bridge Road Earnings on Investments 2,624,092 1,841,335 460,234 330,216 539,541 492,015 426,975 674,027 281,895 370,167 2016 based on .7% return on available fund balance based on current trend 23.0% -29.8% -75.0% -28.3 % 6341/. -88% -132% 579% -58.2% 31.3 % Rental Income 897,958 949,961 912,090 862,151 895,872 832,134 918,691 1,044,463 908,846 990,556 2016 less than 2014 actual due to a "catchup" payment in 2014; Employee housing currently full 8.5% 5.8% -4.0% -5.5% 3.90/6 -7.1 % 10.4% 24.2% -13.0% 9.0% E911 and Interagency Dispatch 1,528,608 1,657,622 1,904,572 1,908,591 1,958,581 1,915,218 1,982,170 1,931,359 1,896,556 1,918,280 Funding by E911 Authority Board and participating agencies 14.3% 8.40/6 14.91/6 0.20/6 2.60/6 -2.20/. 3.50/6 -2.6% -1.8% 1.1 Vail Reinvestment Authority Transfers - - - 1,070,365 7,125,196 5,354,864 1,842,286 3,049,280 4,067,748 3;500,000 2013 for continuation of Guest Service Enhancements, LH parking entry, SunBird Park, etc N/A 565.7% -24.8% -65.60/6 65.50% 33.4% -14.00/. 2014 for LH Parking structure entry and parking equipment; 1-70 Underpass 2015 for I-70 Underpass ($1 M) and Frontage Rd improvements from LH Parking to Muni bldg ($3M) 2016 for I-70 Underpass ($2.2M) All Other Revenue 7,222,738 6,389,765 4,885,916 7,957,308 6,463,634 4,725,743 4,725,539 7,522,484 6,316,050 5,116,307 In general, this item includes franchise fees, fines and forfeitures, employee portion of healthcare 43.2% -11.5% -23.50% 62.91% -18.81/. -26.9% 0.0% 59.20% -16.01% -19.0% premiums, license revenue, administration fees collected from VLMD and RETT and other charges for service such as out of district fire response and Police contracted services. Total Revenue 54,845,217 58,018,698 43,924,542 57,973,811 58,661,907 55,007,762 53,610,347 64,907,014 62,850,057 63,298,443 % compared to Prior Year 9.3% 5.8% -24.3% 32.0% 1.2% -6.2% -2.5% 21.1% -3.2% 0779/6 10/20/2015 Town of Vail 2016 Budget Summary of Changes in Personnel From 2015 Original Budget to 2016 Budget Amended 2015 Conversion New Full-time Regular Positions Special Events Coordinator 0.50 Maintenance Workers 1.00 1.00 Heavy Equipment Operator / Irrigation Tech 0.50 0.50 Fire Fighter 1.00 Bus Drivers (year-round) 8.00 - 8.00 2.00 2.50 Total Full-time Regular Positions: 12.50 Fixed -Term Positions Investigator: Drug Unit 1.00 Human Resources Coordinator 1.00 - 1.00 1.00 Total Fixed -Term Positions: 2.00 Seasonal Positions Intern - eliminate headcount (0.25) Forest Health 0.50 Heavy Equipment Operator (0.50) Maintenance Worker (0.46) Irrigation Tech (0.48) Parking Attendants (summer only) 1.44 Library 0.20 Bus Drivers (winter only) (3.04) Bus Drivers (summer only) 0.76 Human Resources Coordinator (0.50) (U84�t I . Total Seasonal Positions: (2.33) Total Changes to FTE Count: 7.16 2.00 3.01 12.17 - 13- 10/20/2015 TOWN OF VAIL 2016 BUDGET TEN-YEAR SUMMARY OF BUDGETED POSITIONS BY DEPARTMENT 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Full -Time Regular Positions - Funded by TOV Town Officials 7.06 6.23 6.23 6.23 5.43 4.43 4.43 4.43 3.43 3.43 0.00 Administrative Services 19.68 21.02 20.35 20.35 19.35 19.35 19.40 21.40 24.60 25.10 0.50 Community Development 15.18 15.18 17.85 15.85 14.85 13.85 13.85 12.85 13.85 12.85 (1.00) Fire 18.00 22.00 21.25 24.25 24.00 24.00 24.50 25.50 28.50 29.50 1.00 Police and Communications 54.50 54.50 54.50 55.50 53.75 54.75 54.25 54.25 55.25 56.25 1.00 Library 6.63 6.63 6.55 6.55 6.55 6.55 6.55 6.55 6.55 6.55 0.00 Public Works, Streets & Roads, Landscaping 31.75 31.75 30.80 30.80 30.80 30.80 30.80 34.30 36.30 40.30 4.00 Transportation & Parking 31.00 31.00 33.00 31.00 31.00 31.00 31.00 39.50 39.50 47.50 8.00 Fleet Maintenance 13.00 13.00 13.00 12.00 12.00 12.00 12.00 12.00 11.00 11.00 0.00 Facility Maintenance 20.00 20.00 20.00 20.00 20.00 18.00 16.00 16.00 17.00 17.00 0.00 Capital Projects 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Full -Time Regular 216.80 221.31 223.53 222.53 217.73 214.73 212.78 226.78 235.98 249.48 13.50 Fixed Term Employees Administrative Services - - - - - - 0.50 - - 1.00 1.00 Community Development 5.00 4.00 4.00 0.50 - 0.00 Fire 2.00 2.00 2.00 - - 0.00 Police and Communications 3.48 3.48 3.00 - 1.00 1.00 Public Works, Streets & Roads, Landscaping 1.63 1.63 1.50 1.50 - 0.00 Capital Projects 1.63 1.63 1.50 - - 0.50 0.50 - 0.00 Document Imaging 0.75 1.00 1.00 1.00 1.00 1.00 1.00 1.00 - 0.00 Total Fixed -Term 14.49 13.74 13.00 3.00 1.00 1.50 2.00 1.00 0.00 2.00 2.00 Externally Funded Employees Police and Communications 9.00 9.00 9.00 10.00 10.00 10.00 10.00 10.00 9.00 8.00 (1.00) Total Externally Funded 9.00 9.00 9.00 10.00 10.00 10.00 10.00 10.00 9.00 8.00 (1.00) Total Full -Time Employees 240.29 244.05 245.53 235.53 228.73 226.23 224.78 237.78 244.98 259.48 21.70 - 14- 10/20/2015 TOWN OF VAIL 2016 BUDGET TEN-YEAR SUMMARY OF BUDGETED POSITIONS BY DEPARTMENT 2016 Positions 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Change Seasonal Positions - Funded by TOV Town Officials 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Administrative Services 0.59 1.19 1.94 1.94 1.94 1.94 1.94 1.94 1.69 1.19 (0.50) Community Development 0.00 1.25 0.25 0.00 0.00 0.25 0.25 0.25 0.25 0.00 (0.25) Fire 7.20 7.20 10.20 10.20 12.70 13.70 13.70 12.70 9.61 10.11 0.50 Police and Communications 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Library 1.70 1.70 1.70 1.70 1.70 1.70 1.70 1.70 2.20 2.40 0.20 Public Works/ Streets & Roads/Landscaping 11.42 11.90 12.86 10.46 10.46 10.94 12.38 9.14 8.64 7.20 (1.44) (0.84) Transportation & Parking 25.31 26.70 25.70 27.46 27.46 27.46 27.46 20.30 19.84 19.00 Fleet Maintenance 0.00 0.00 0.00 0.25 0.25 0.25 0.25 0.00 0.00 0.00 0.00 Facility Maintenance 1.38 1.38 1.38 1.38 1.38 1.38 1.38 0.92 0.92 0.92 0.00 Total Seasonal / Part -Time 47.60 51.32 54.03 53.39 55.89 57.62 59.06 46.95 43.15 40.82 (2.33) All FTE's (Full -Time Equivalents) Town Officials 7.06 6.23 6.23 6.23 5.43 4.43 4.43 4.43 3.43 3.43 0.00 Administrative Services 20.27 22.21 22.29 22.29 21.29 21.29 21.84 23.34 26.29 27.29 1.00 Community Development 20.18 20.43 22.10 16.35 14.85 14.10 14.10 13.10 14.10 12.85 (1.25) Fire 27.20 31.20 33.45 34.45 36.70 37.70 38.20 38.20 38.11 39.61 1.50 Admin 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00 Patrol 31.00 31.25 31.00 28.00 27.00 28.00 28.00 28.00 28.00 28.00 0.00 Investigation 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 6.00 1.00 Records 5.50 5.25 5.50 5.50 4.75 4.75 4.25 4.25 4.25 4.25 0.00 Dispatch 23.48 23.48 23.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 0.00 Police and Dispatch Total 66.98 66.98 66.50 65.50 63.75 64.75 64.25 64.25 64.25 65.25 1.00 Library 8.33 8.33 8.25 8.25 8.25 8.25 8.25 8.25 8.75 8.95 0.20 Public Works, Streets & Roads 44.80 45.28 45.16 42.76 41.26 41.74 43.18 43.44 44.94 47.50 2.56 Transportation & Parking 56.31 57.70 58.70 58.46 58.46 58.46 58.46 59.80 59.34 66.50 7.16 Fleet Maintenance 13.00 13.00 13.00 12.25 12.25 12.25 12.25 12.00 11.00 11.00 0.00 Facility Maintenance 21.38 21.38 21.38 21.38 21.38 19.38 17.38 16.92 17.92 17.92 0.00 Ca ital Pro'ects / Fixed Term 2.38 2.63 2.50 1.00 1.00 1.50 1.50 1.00 0.00 0.00 0.00 Total FTE's 287.88 295.37 299.56 288.92 284.62 283.85 283.84 284.73 288.13 300.30 12.17 - 15- 10/20/2015 Full -Time Regular Employees Fee Based Health Insurance Group Term Life, Disability & Accidental Death Ski Pass / Fitness Sworn Officer Death and Disability Insurance Subtotal Fee Based Payroll Based Pension Contribution Medicare Workers' Compensation Insurance Unemployment Compensation Insurance Subtotal Payroll Based Total Full -Time Benefits Part -Time and Seasonal Employees Fee Based Ski Pass / Fitness Ski Pass / Fitness - Boards Mini -Med Program Health Insurance Payroll Based Pension Contribution Medicare Workers' Compensation Insurance Unemployment Compensation Insurance Subtotal Payroll Based Total Part -Time and Seasonal Benefits Total Benefits - All Employees Town of Vail Employee Benefits 2013 1.57% 2014 1.50% 2015 1.50% 2016 1.50% Actual % Salary Actual % Salary Budget % Salary Proposed % Salary 3,000,000 22.10% 3,150,000 21.60% 3,378,571 20.81% 3,384,274 19.78% 183,283 1.47% 196,514 1.30% 231,000 1.42% 231,000 1.35% 94,662 0.70% 86,121 0.60% 85,000 0.52% 85,000 0.50% 69,050 0.51% 81,078 0.60% 80,000 0.49% 80,000 0.47% 3,362,809 24.78% 3,513,713 24.10% 3,774,571 23.24% 3,780,274 22.09% 1,936,323 15.49% 2,143,813 14.70% 2,343,981 14.43% 2,680,014 15.66% 246,264 1.81% 176,354 1.20% 213,457 1.31% 226,119 1.32% 186,853 1.38% 245,019 1.70% 272,700 1.68% 274,000 1.60% 28,510 0.21% 47,144 0.30% 48,700 0.30% 51,300 0.30% 2,397,950 17.67% 2,612,330 17.90% 2,878,838 17.72% 3,231,434 18.88% 5,760,759 42.45% 6,126,043 42.00% 6,653,409 40.96% 7,011,708 40.98% 84,559 4.01% 76,110 4.10% 9,100 0.43% 9,100 0.49% 3,000 0.14% 0 0.30% 75,000 4.66% 9,100 0.57% 471,429 29.29% 75,000 4.62% 9,100 0.56% 465,726 28.68% 33,136 1.57% 28,110 1.50% 24,141 1.50% 24,359 1.50% 30,635 1.45% 26,647 1.50% 23,336 1.45% 23,547 1.45% 29,128 1.38% 30,842 1.70% 27,100 1.68% 26,000 1.60% 4,444 0.21% 5,934 0.30% 4,828 0.30% 4,872 0.30% 97,343 4.62% 91,533 5.00% 79,405 4.93% 78,778 4.85% 194,002 9.20% 176,743 9.60% 634,934 39.45% 628,604 38.71% 5,954,761 37.98% 6,302,786 38.30% 7,288,343 40.84% 7,640,312 40.78% 16 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERALFUND 17 10/20/2015 2014 2015 2015 2016 Comments Actual Budget Amended Projection Revenue Local Taxes: $ 23,881,131 $ 24,486,000 $ 24,486,000 $ 25,588,000 2016 4.5% increase from amended 2015 Sales Tax Split b/t Gen'I Fund & Capital Fund 62/38 62/38 62/38 62/38 Sales Tax 14,322,000 $ 15,181,000 15,181,000 15,865,000 Property and Ownership 4,358,411 4,301,000 4,301,000 4,913,000 Per County assessor preliminary information; 13% increase Ski Lift Tax 4,351,624 4,418,700 4,418,700 4,728,000 2016 7% increase from 2015 budget Franchise Fees, Penalties, and Other Taxes 1,121,455 1,158,779 1,158,779 1,181,160 2016 2% increase from 2015 budget Licenses & Permits 2,747,488 1,538,267 1,538,267 1,594,254 2016 based on 5 year average Intergovernmental Revenue 2,010,236 1,835,192 1,842,692 1,882,916 County stax, Road & Bridge Transportation Centers 4,543,399 4,023,264 4,023,264 4,225,000 Up 5% from 2015 budget; still 6.7% less than 2014, a very strong year Charges for Services 947,267 907,812 933,812 999,949 Mainly based on RETT mgmt fee; VLMD fee and VRA fee (flat); Volvo sponsorship included Fines & Forfeitures 207,723 263,404 263,404 250,942 Earnings on Investments 158,770 108,236 108,236 160,000 Based on 0.7% return Rental Revenue 1,044,463 903,087 908,847 991,843 3% increase every two years for employee housing Miscellaneous and Project Reimbursements 215,122 283,000 305,000 182,000 Total Revenue 36,027,958 34,921,741 34,983,001 36,974,064 Total 2016 revenue increase: $2.OM from 2015 amended 5.7% Expenditures Salaries 14,630,258 16,013,936 16,108,936 16,890,517 2016: 5% merit plus headcount requests Benefits 5,041,460 5,774,964 5,774,964 6,236,673 Increase in $'s due to added headcount; otherwise healthcare rates flat Subtotal Compensation and Benefits 19,671,718 21,788,900 21,883,900 23,127,190 5.7% Contributions and Special Events 2,068,595 2,044,028 2,111,264 2,270,994 CSE and Council Contributions at 3% increase from 2015 amended; Add'I air service to Charlotte & Oakland ($75K); Education & Enrichment events at $150K All Other Operating Expenses 6,597,626 7,395,314 7,444,029 7,773,781 Heavy Equipment Operating Charges 2,332,918 2,365,917 2,365,917 2,221,467 Based on projected vehicle use Heavy Equipment Replacement Charges 580,890 592,884 592,884 618,120 Based on HEF replacement schedule 5 -year plan Dispatch Services 590,961 630,588 630,588 663,214 E911 Authority Board reduced staffing support by 1, and TOV %age use has increased Total Expenditures 31,842,708 34,817,631 35,028,582 36,674,766 Total 2016 expenditure increase: $1.7M from 2015 amended 4.7% Revenue Over (Under) Expenditures 4,185,250 104,110 (45,581) 299,298 2015 World Alpine Ski Championships (250,000) (250,000) (250,000)2015 Final year Pro -cycling event (75,000) (75,000) 2015 Nation's Event (375,000) (375,000) (375,000) 2015 Final year Castle Peak Senior Care Facility (200,000) Contingent upon matching funds from other municipalities Transfer to Dispatch Services Fund (22,338) (22,338) - For overtime relating to 2015's Revenue Net of Transfers & New Programs 3,285,250 (618,228) (692,919) 249,298 Beginning Fund Balance 16,401,973 19,687,223 19,687,223 18,994,304 Ending Fund Balance $ 19,687,223 $ 19,068,995 $ 18,994,304 $ 19,243,602 As % of Annual Revenue 52% EHOP balance included in ending fund balance - not spendable $ 690,000 $ 690,000 $ 690,000 $ 690,000 17 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERALFUND Expenditures by Type: 2014 2015 2015 2016 Municipal Services: Actual Original Amended Proposed Revenue 1,322,795 1,803,487 1,717,270 1,656,613 Local Taxes: 23,881,131 $ 24,486,000 $ 24,486,000 $ 25,588,000 Sales Tax Split b/t Gen'I Fund & Capital Fund 62/38 62/38 62/38 62/38 Sales Tax 14,322,000 15,181,000 15,181,000 15,865,000 Property and Ownership 4,358,411 4,301,000 4,301,000 4,913,000 Ski Lift Tax 4,351,624 4,418,700 4,418,700 4,728,000 Franchise Fees, Penalties, and Other Taxes 1,121,455 1,158,779 1,158,779 1,181,160 Licenses & Permits 2,747,488 1,538,267 1,538,267 1,594,254 Intergovernmental Revenue 2,010,236 1,835,192 1,842,692 1,882,916 Transportation Centers 4,543,399 4,023,264 4,023,264 4,225,000 Charges for Services 947,267 907,812 933,812 999,949 Fines & Forfeitures 207,723 263,404 263,404 250,942 Earnings on Investments 158,770 108,236 108,236 160,000 Rental Revenue 1,044,463 903,087 908,847 991,843 Miscellaneous and Project Reimbursements 215,122 283,000 305,000 182,000 Total Revenue 36,027,958 34,921,741 34,983,001 36,974,064 Expenditures by Type: 4,185,250 104,110 (45,581) 299,298 Municipal Services: (200,000) - - (50,000) Town Officials 1,322,795 1,803,487 1,717,270 1,656,613 Administrative Services & Risk Management 3,840,106 4,480,678 4,492,059 4,840,508 Community Development & Housing 1,483,247 1,756,771 1,662,846 1,773,237 Police 4,665,440 5,096,446 5,117,297 5,239,360 Police Communications 590,961 630,588 630,588 663,214 Fire 3,626,938 3,966,997 4,019,597 4,037,519 Public Works & Streets 4,042,454 4,139,647 4,258,672 4,524,671 Transportation & Parking 5,408,556 5,845,336 5,955,336 6,436,330 Facilities 3,740,843 3,947,222 3,947,222 4,070,717 Library 829,319 877,265 887,265 878,404 Economic Development 2,292,049 2,273,194 2,340,430 2,554,193 Total Expenditures 31,842,708 34,817,631 35,028,582 36,674,766 Revenue Over (Under) Expenditures 4,185,250 104,110 (45,581) 299,298 Castle Peak Senior Center (200,000) - - (50,000) 2015 World Alpine Ski Championships (250,000) (250,000) (250,000) - Pro -cycling event (75,000) (75,000) - - 2015 Nation's Event (375,000) (375,000) (375,000) - Transfer to Dispatch Services Fund - (22,338) (22,338) - Total Expenditures 32,742,708 35,539,969 35,675,920 36,724,766 Surplus Net of Transfers & New Programs 3,285,250 (618,228) (692,919) 249,298 Beginning Fund Balance 16,401,973 19,687,223 19,687,223 18,994,304 Ending Fund Balance $ 19,687,223 $ 19,068,995 $ 18,994,304 $ 19,243,602 EHOP balance included in ending fund balance - $ 690,000 $ 690,000 $ 690,000 $ 690,000 not spendable 18 10/20/2015 2016 Contributions The attached spreadsheet shows the staff recommended funding levels that are included in the first draft of the Town Manager's 2016 budget. Signature Events and Services categories did not need to submit an application; funding is proposed at a 3% increase from 2015 budget levels. New grant applications are only required every other year, 2017 being the next application year, unless the applicant is requesting new or different levels of funding. The items below outline requests received for new or different levels of funding than requested for 2015 and document in-kind contributions approved by staff. All requests were considered based on how the contribution or event fits into the overall Council Goals listed below: • Improve economic vitality • Grow a balanced community • Improve the quality of the experience • Develop future leadership The Educational and Enrichment Events (previously known as Tier IV, or Life -Long Learning) are required to submit applications through the Commission on Special Events (CSE), which are due in October. Staff has proposed an overall funding amount of $150,000 based on recommendation of the CSE based on the prior year's submissions. SIGNATURE (VAIL BRAND EVENTS) A. Bravo! Colorado BACKGROUND INFORMATION: Bravo! Vail Valley Music Festival is requesting a new contribution of $77,500, in addition to the amount awarded in 2015. The new contribution will go towards supporting London's chamber orchestra Academy of St. Martin in the Fields for a three performance residency (June 23 — 26). STAFF RECOMMENDATION: Staff recommends a 3% increase on prior year's contribution ($173,400 in 2015) to the New York Philharmonic and Philadelphia Orchestra, totaling $178,600 ($89,300 each). Staff also recommends the equivalent in-kind use as awarded in 2015. This includes the use of up to six days of Donovan for the Donavan Chamber Music Series and up to three days use of Donavan for the Silver Oak & Twomey Series. Both will be limited to 6 hours per day. In addition, staff supports funding the $77,500 for the London chamber orchestra based on the economic impact to the town. B. Vail Jazz Foundation BACKGROUND INFORMATION: The Vail Jazz Foundation is requesting a cash contribution of $100,000 to fund 50 performances presented in Vail over 12 weeks in the summer, including an opening night collaboration with Bravo!, the Jazz at Vail Square concert series (9 concerts), Jazz at the Market (10 concerts), Jazz at Sweet Basil (10 concerts), Jazz After Dark (4 concerts) following Bravo!, and Labor Day Weekend Jazz Party at Vail Square and the Marriott (11 performances). The additional cash contribution would help fund the expansion of a Winter Jazz series in 2016 which would include a minimum of six performance dates between December 15th and April 10th 19 10/20/2015 The Vail Jazz foundation is also requesting in-kind donations of two half day rentals of Donovan Pavilion, 4 half day rentals of The Grand View room, 60 discounted parking vouchers at Lionshead Parking Structure, 250 Vail bags for Vail Jazz merchandise, and waived banner hanging fees for the street banners at Covered Bridge, Lionshead, and one set of roundabouts. STAFF RECOMMENDATION: Staff recommends a 3% increase over prior year's contribution ($72,000), for a total of $74,160, consistent with the overall increase granted to town operations. Staff recommends in-kind use of two half day rentals of Donovan Pavilion and four half day rentals of The Grandview room, both limited to six hours per day. While this event has become more established and successful in the past several years, staff does not support a 39% increase in financial assistance, the addition of parking vouchers, waived banner fees, or Vail bags as requested. SERVICES C. Betty Ford Alpine Gardens BACKGROUND INFORMATION: The Alpine Garden Foundation is requesting an in-kind contribution of one blue parking pass to be used by the Executive Director in addition to the town's annual operating support. STAFF RECOMMENDATION: The town has currently included a 3% increase to the annual operating budget for the Gardens ($69,010 for 2016). Staff will grant the request of an additional blue parking pass. D. Eagle Valley Senior Life BACKGROUND INFORMATION: The Eagle Valley Senior Life is the only organization in Eagle County specifically for seniors with dementia and other disabilities and provides respite for caregivers along with an opportunity for increased socialization and cognitive stimulation for participants. EVSL has requested a contribution of $5,000 to support transportation for low income participants. STAFF RECOMMENDATION: Staff does not recommend funding as it is not an appropriate use of taxpayer dollars for health & human services when the County maintains responsibility for these services. E. Children's Garden of Learning BACKGROUND INFORMATION: Children's Garden of Learning is requesting a cash contribution of $3,000 to fund playground and building maintenance and repairs and continued snow plow service for the winter (valued at $5,000). STAFF RECOMMENDATION: Staff does not recommend the cash funding of $3,000, however staff does support the equivalent in-kind contribution as awarded in 2015 for plow services. 20 10/20/2015 IN-KIND REQUESTS For details of all in-kind contributions approved by staff for the 2016 budget year, please refer to page 17. The below items are included here because there are new or additional requests being made. F. Vail Junior Hockey Association BACKGROUND INFORMATION: The Vail Junior Hockey Assn. currently receives 12 days of ice valued at $15,855 (3 weekends during November, 2016 and one weekend in January, 2015) and use of the Donovan Pavilion on four separate days (valued at $14,000). In addition, they are requesting one parking pass for the Director of Hockey ($1,100) and 25 one -day parking coupons ($500) for tournament participants (November 18-20, 2016). STAFF RECOMMENDATION: Staff recommends providing 5 days of ice time (out of 9 requested), subject to approval and coordination with the Vail Recreation District for the ice time. Staff recommends waiving the fee for a one day use, (not the four requested) Donovan Pavilion for Monday -Thursday use, limited to 6 hours and contingent upon approval and coordination with the Donovan Management Company regarding availability. However, the Hockey Assn. will be responsible for hard costs for use of the Dobson Arena and Donovan Pavilion such as set-up, tear - down, cleaning and utilities. If there are enough available days at Dobson remaining prior to this event, staff recommends providing the full amount of days (days will be released by August 1St 2016). The parking request is estimated at a cost of $1,600. Staff does not support an increase from the prior year's contribution. G. Skating Club of Vail BACKGROUND INFORMATION: The Skating Club of Vail has requested in-kind funding of 11 days of use of Dobson valued at $13,212 for two separate competitions: Vail Invitational Championships in July 2016 and the Holiday Ice Shows in late December, 2016. STAFF RECOMMENDATION: Staff recommends providing 5 days of ice time (out of 11 requested) subject to approval and coordination with the Vail Recreation District. The Skating Club will be responsible for hard costs for use of the Dobson Arena such as set-up, tear -down, cleaning and utilities. However, if there are enough available days remaining prior to this event, staff recommends providing the full amount of days (days will be released by August 1 St 2016). H. Special Olympics BACKGROUND INFORMATION: The Special Olympics is requesting an in-kind contribution of 46 parking vouchers valued at $1,150 from January 4, 2016 through April 12, 2016. The days requested are Sundays not including President's weekend. STAFF RECOMMENDATION: Staff recommends funding this in-kind request as in prior years for the Lionshead parking structure only, with one-time entry/exit coupons (total of 46). I. Eagle River Youth Coalition BACKGROUND INFORMATION: The Youth Coalition is requesting an in-kind use of Donovan 21 10/20/2015 Pavilion (valued at $3,500) to host the organizations largest fundraising event "Valley Tastings: Food for Youth" in October 2016 as in the past two years. The in-kind donation would maximize the fundraising efforts and re -direct those dollars to the organization's programming. STAFF RECOMMENDATION: Staff recommends waiving the fee for a one day use of Donovan Pavilion for Monday -Thursday use, limited to 6 hours and contingent upon approval and coordination with the Donovan Management Company regarding availability. However, the Eagle River Youth Coalition will be responsible for hard costs for use of the Donovan Pavilion such as set- up, tear -down, cleaning and utilities, or any staff time if the 6 hours are exceeded. J. Foresight Ski Guides BACKGROUND INFORMATION: Foresight Ski Guides is requesting four blue parking passes (valued at $4,400) for the 2015- 2016 ski season. Foresight provides parking to volunteer guides, half of which drive from Denver who need to be parked and ready to meeting their visually impaired participants by 8:30am. Local guides usually take public transportation and/or carpool. Foresight provides challenging recreation opportunities to visually impaired participants (adults and children) and guides. STAFF RECOMMENDATION: Staff recommends providing two blue passes, as was approved in the past several years. K. Small Champions of Colorado, Inc. BACKGROUND INFORMATION: Small Champions of Colorado is requesting in-kind services for 6 parking vouchers to use on nine winter Sundays (valued at $1,350). In addition they are requesting a parking pass valued at $1,100 to use for their annual golf tournament silent auction. This will help with fund raising and provide a meeting space for the small champions and their families. Small Champions is also requesting to renew their agreement to use the Lionshead Welcome Center as a meeting location on the same off-peak 9 Sundays from 9am-10am and 2:30pm-3pm and bus service for one day (Tuesday) (valued at $250) in June for the summer camp event they host with the Vail Recreation District for children with disabilities. STAFF RECOMMENDATION: Staff recommends the parking vouchers to be used on winter Sundays, as well as continuing to use the Lionshead Welcome Center as a meeting location on those same off-peak Sundays. Staff does not recommend the parking pass or bus service in June due to bus service already at peak levels. L. SpeakUp ReachOut BACKGROUND INFORMATION: SpeakUp ReachOut is requesting in-kind use of Dobson Ice Arena (valued at $1,321) to host the first annual Eagle County vs. Pitkin County Emergency Responders Hockey Game for mental health and suicide awareness. STAFF RECOMMENDATION: Staff recommends waiving the fee for a one day use of Dobson Arena, contingent upon approval and coordination with the Vail Recreation District regarding availability. SpeakUp ReachOut will be responsible for hard costs for use of the Dobson Arena such as set-up, tear -down, cleaning and utilities. 22 10/20/2015 2016 Council Contribution Request Spreadsheet TOWN OF VAIL FUNDING REQUEST SIGNATURE EVENTS (VAILBRAND) *2016 off-year Bravo! Colorado New York Philharmonic Philadelphia Orchestra London Donovan Chamber Music Series Silver Oak & Twomey Series National Repertory Orchestra Vail Farmers' Market Vail Jazz Festival Vail Valley Foundation Vail International Dance Festival Hot Summer Nights Winter Go Pro Mtn Games Summer Go Pro Mtn Games Burton US Open Fireworks Funding TOTALSIGNATURE EVENTS DESTINATION EVENTS VVF: Pro Cycling Event VVF: 2015 Nations Event (Golden Peak) VVF: 2015 World Alpine Ski Championships Bravo! Chicago Broadcast & Videography TOTAL DESTINATION EVENTS SERVICES Colorado Ski Museum: Operating Colorado Ski Museum: Film production Colorado Ski Museum: Capital Grant 50% cost share Betty Ford Alpine Garden: Operating Betty Ford Alpine Garden: Capital Request Eagle River Watershed Council Vail Valley Community TV/Ch5 Eagle Valley Childcare Eagle Valley Childcare: Capital improvement VVF: Vail Valley Athlete Commission Eagle Valley Senior Life Children's Garden of Learning Walking Mountains 2015 2015 Council -Approved Cash 2015 In -Kind In -Kind 10/20/2015 2016 Requests Discounted pkg: $7.00/per up to max of 50 w/VVF plus 15 spaces at Ford Park 2016 Cash Request 86,700 2015 In -Kind Staff Approved In-kind 86,700 Donovan for 6 days & nts 8am day 1 - 10am day 6 21,000 Partici ation in the Ford Park "Nest' parking area 1,000 89,300 PW support 4,500 72,000 89,300 77,500 46,000 27,500 Police support 2,800 cancelled for 2015 Police, PW support, shuttle bus 12,000 400,000 Use of Soccer, RV and Chalet Rd parking lots 1,030 50,000 769,900 40,300 100,000 2 half day rentals of Donavan, 4 half day rentals of the Grand View, 60 discounted parking vouchers at 74,160 Lionshead, waived banner hanging fees at covered bridge and Lionshead, banner hanging fees waived for one set of roundabouts, 250 Vail bags for merchandise sales 2 half day rentals of Donavan, 4 half day 11,025 rentals of the Grand View; Value of $7,900 175,000 Police, PW, Fire, Full Time staff labor 40,000 375,000 150,000 250,000 28,325 28,325 Police support Pending review by Event Review 2,800 Committee 800,000 190,000 Police coverage, event bus support, water usage, sand bag distribution, and trash clean up. 12,000 Pending review by Event Review Committee 42,840 rent & 2 person offices ace TRC 8,000 Pending review by Event Review Committee 51,500 51,500 67,000 2 parking designated parking spaces Ford Park 300 500,000 63,240 Use of Donovan Pavilion (1 day for Waterwise Wednesdayevent) 3,750 90,000 50,000 1,000 6,000 20,000 10/20/2015 2016 Requests 2016 Cash Request Staff 2016 In -Kind Request RecommendedValue Cash 2015 In -Kind Staff Approved In-kind Partici ation in the Ford Park "Nest' parking area Participation in the Ford Park "Nest' parking area 89,300 89,300 89,300 89,300 77,500 77,500 Donovan for 6 days & nts 8am day 1 - 10am da 6; 22,500 22,500 Donovan for 3 days & nts 8am day 1 - 10am da 3; 11,250 11,250 1,030 1,030 100,000 2 half day rentals of Donavan, 4 half day rentals of the Grand View, 60 discounted parking vouchers at 74,160 Lionshead, waived banner hanging fees at covered bridge and Lionshead, banner hanging fees waived for one set of roundabouts, 250 Vail bags for merchandise sales 2 half day rentals of Donavan, 4 half day 11,025 rentals of the Grand View; Value of $7,900 47,380 47,380 28,325 28,325 Police support Pending review by Event Review 2,800 Committee Police coverage, event bus support, water usage, sand bag distribution, and trash clean up. 12,000 Pending review by Event Review Committee 400,000 400,000 Use of Soccer lot, RV lot, Mtn plaza, bottom of slope style, permit holder parking, Pending review by Event Review Committee 51,500 51,500 884,335 858,495 1 59,575 33,750 44,125 44,125 $8K subsidized rent 8,000 8,000 69,010 69,010 1 parking pass for Director - 45,000 45,000 Use of Donovan Pavilion (1 day for Waterwise Wednesday event 3,750 90,000 90,000 51,500 51,500 6,000 6,000 5,000 - 3,000 - Snow plow services 5,000 5,000 150,000 40,000 10/20/2015 Castle Peak TOTAL SERVICES IN KIND Vail Junior Hockey - Nov 2016 Tournament/January 2017 l 13-17 Foresi ht Ski Guides SOS Outreach Small Champions of Colorado Sneak uD ReachOut TOTAL IN KIND GRAND TOTAL: COUNCIL CONTRIBUTIONS 1 2,409,980 1 T-291,654]1,397,970.20 1,254,130 146,154 53,142 10/20/2015 50,000 50,000 840,080 12,050 Bus service to base of Beaver Creek only 13,000 Cancelled for 2015 2 daVs usa a of Dobson October 2,642 ournament 5 days usage of free ice unless more are available, 1 day usage of Dobson (not including set-up fees) 10,106 free ice - 5 days unless there is enough available days 6,606 46 parking coupons for Sundays from 1/4 thru 4/12 not incl. Pres Wkd 1,150 In-kind use of Donovan pavilion for an event in October 3,750 2'Blue" parking passes 2,200 25 single day parkingvouchers 500 54 prking vchers; 1 pass for auction; 9 days use of Welcome Ctr (Sun); 1,350 1 day usa a of Dobson arena 1,321 1 day usage of Dobson arena $1321 GRAND TOTAL: COUNCIL CONTRIBUTIONS 1 2,409,980 1 T-291,654]1,397,970.20 1,254,130 146,154 53,142 10/20/2015 50,000 50,000 513,635 395,635 13,000 16,750 4 days usage of Dobson October 2016 5,284 2,642 8 days of free ice, use of Donovan arena 2 days; use of Donavan Pavillion 4 days; 1 pkg pass & 25 pkg coupons 5 days usage of Dobson unless more 26,293 are available, 1 day usage of Donovan not including set-up fees $10,205 11 days use of Dobson- 5 days in July and 6 days in late December 14,531 5 days usage of Dobson unless there is enough available days $6,605 46 parking coupons for Sundays from 1/4 thru 4/12 not incl. Pres Wkd 1,150 46 parking coupons for Sundays from 1/4 thru 4/12 not incl. Pres Wkd $1150 In-kind use of Donovan pavilion for an event in October 3,750 In-kind use of Donovan pavilion for an event in October $3,750 4'Blue" parking passes 4,400 2 Blue passes $2,200 25 single day parkingvouchers 500 54 prking vchers; 1 pass for auction; 9 days use of Welcome Ctr (Sun); 1,350 54 prking vchers; 1 pass for auction; 9 days use of Welcome Ctr (Sun); $1350 1 day usa a of Dobson arena 1,321 1 day usage of Dobson arena $1321 GRAND TOTAL: COUNCIL CONTRIBUTIONS 1 2,409,980 1 T-291,654]1,397,970.20 1,254,130 146,154 53,142 10/20/2015 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET CHANGES IN FUND BALANCE FUND Increased cost from prior 5 -year plan Revisions / newly added project * Placeholder items 2020 4% SUMMARY OF REVENUE, EXPENDITURES, AND Amended 2015 2016 2017 CAPITAL PROJECTS 2018 2019 Revenue Total Sales Tax Revenue: Sales Tax Split between General Fund & Capital Fund Sales Tax - Capital Projects Fund Use Tax Federal Grant Revenue Other State Revenue Lease Revenue Project Reimbursement Timber Ridge Loan repayment Earnings on Investments and Other $ 24,486,000 62/38 $ 9,305,000 1,800,000 358,752 766,130 197,295 40,000 494,466 103,654 4.5% $ 25,588,000 62/38 $ 9,723,000 1,545,000 544,800 - 197,295 - 461,065 149,281 4% $ 26,611,000 62/38 $ 10,112,000 1,591,350 - - 197,295 _ 461,065 113,680 4% 4% $ 27,675,000 $ 28,782,000 $ 29,933,000 2016 4.5% incr from 2015 amended; then 4% per year 62/38 62/38 62/38 $ 10,517,000 $ 10,937,000 $ 11,374,000 38% to CPF 1,639,100 1,688,300 1,688,300 2016 down from 2015;no new major developments assumed; then 3% per year - - - 2014-2016: Bridges at Nugget Lane and Bridge Rd - - - CDOT share of funding for 1-70 Underpass study 202,227 202,227 202,227 Per Vail Commons commercial (incr. every 5 years) and residential leases - 2015: 40K reimbursement from ERWSD for waterline work on Covered Bridge; 2016 $50K cost share with VLMD for interactive map 461,065 461,065 461,065 Principal and interest on loans to Timber Ridge Fund 133,647 153,416 112,083 0.7% rate assumed on available fund balance Total Revenue 13,065,297 12,620,441 12,475,390 12,953,039 13,442,008 13,837,675 Expenditures Maintain Town Assets Bus Shelters C-1 Parking Structures ffic Impact Fee and Transportation Master Plan Updates lghborhood Bridge Repair C-2 Facilities Capital Maintenance Donovan Park Pavilion Street Light Improvements C-3 Capital Street Maintenance C-5 West Forest Rd Bridge Repair C-5 Kinnickinnick (West) Bridge Repair B0 Covered Bridge Structural Repairs Flood Incident repairs Town -wide camera system Audio -Visual capital maintenance Document Imaging Software Licensing lice Taser Replacement tomated External Defibrillator9,870 ublic Safety ID Card Printer 30,000 680,000 706,760 69,840 169,953 1,432,723 90,000 105,436 22,000 18,000 68,000 60,000 30,000 675,000 319,125 5,000 50,000 1,290,000 350,000 350,000 - - 22,000 18,000 30,000 51,000 31,849 8,740 30,000 690,000 419,625 5,000 50,000 1,320,000 70,000 18,000 100,000 52,530 30,000 30,000 30,000 Annual maintenance 690,000 690,000 690,000 2015 - 2020 various repairs including deck topping replacement, expansion joint repairs, ventilation, HVAC, plumbing and other structural repairs Update of Traffic Impact Fees and Transportation Master Plan Major Bridge Repair Projects based on bi-annual bridge inspec tion 2015 update: overall increase of $179K over 5 years. 2015 - 2019 various repairs to town buildings including the upkeep 715,000 of exterior (roofing, siding surfaces, windows, doors), interior finishes (paint, carpet, etc.), and mechanical equipment (boilers, air handlers, etc.). 2020 projection will decrease should the municipal building be reconstructed 436,000 396,750 5,000 5,000 755,100 2015: to change ventilation & improve noise, which includes a protective structure on the outside of the building; replace heating/air system and $50K furniture replacement; 2020 replace HVAC 50,000 75,000 75,000 New street lights and to refurbish residential lighting ; Annual maintenance reduced for four years due to upgrade project in 2014; cost are projected to increase in 2019 1,145,000 1,150,000 1,270,000 On-going maintenance to roads and bridges including asphalt overlays, patching and repairs; Cost increases based on recent pricing Major Bridge Repair Projects based on bi-annual bridge inspection Major Bridge Repair Projects based on bi-annual bridge inspection Includes structural maintenance of bridge beams and painting in conjunction with ERWSD waterline maintenance (hangs underneath the bridge) $40K for work done on behalf of ERWSD - see revenue reimbursement above. Upper Columbine/Bighorn Reconstruction 70,000 70,000 22,000 2017-2018 replace 30 cameras; Recorders cost $7-8K each; cameras range from $800 - $3800 each 18,000 18,000 18,000 $18K annual maintenance/replacement of audio-visual equipment in town buildings such as Donovan, Municipal building, Grand View, LH Welcome Center, etc. 30,000 30,000 30,000 Annual maintenance, software licensing, and replacement schedule for scanners and servers. 2015 includes 38K for software platform upgrade; 2017 includes 100K to upgrade document imaging software 54,106 55,729 Upgrade Microsoft products on all equipment; renew licenses in future; Increased costs from vendors; $3K per year 57,401 increase from original 5 year plan due to additional software products; 2015 includes $9K for property and evidence room software one-time expense To replace outdated equipment purchased in 2007 Currently only a few police cars have this equipment; This request would outfit all police cars Requesting printer specific to the "Salamander" software works with state agencies; software would allow easy tracking of all resources on large events or incidents with the badges & barcodes printed 10/20/2015 26 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Increased cost from prior 5-year plan Revisions / newly added project Amended ' Placeholder items 2015 2016 2017 2018 2019 2020 or To purchase 20 cameras for sworn officers, software licenses ($23.7K) plus server hardware ($15K) for the purpose Police Body Worn Cameras storing data Scheduled rotation of PCs, printers and servers; 2015 replacement of three GIS printers/scanners; Two additional Hardware Purchases 168,000 150,000 50,000 50,000 50,000 350,000 Simplivity Omnicube nodes in 2015 and 2016 at a cost of $45K each; 300K in 2020 for scheduled replacement of larger servers Data Center (Computer Rooms) - 1,000,000 15,000 15,000 15,000 15,000 2016: Remodel / Retrofit upper and lower computer rooms ( power, heating / cooling, fire suppression ). Possible relocation into a combined room Website and e-commerce 12,000 12,000 12,000 12,000 12,000 12,000 Internet security & application interfaces; includes $550/month for web hosting svcs Comm Dev ArcGIS System 14,000 - - - - Web access to town GIS information (similar to County's website GIS product) Fiber Optics / Cabeling Systems in Buildings 15,000 15,000 15,000 15,000 15,000 15,000 2015 - 2019: to repair, maintain & upgrade cabling/network Infrastructure Network upgrades 181,000 30,000 30,000 30,000 30,000 200,000 Computer network systems - replacement cycle every 3-5 years; 2015, 2020 replacement of switches and routers Public Wi-Fi Systems - - - - 250,000 Upgrade/replace public Wi-Fi system initially installed by Crown Castles Business Systems Replacement 118,043 - - - - - Community Development permitting software project Annual capital maintenance of "County-wide "Computer Aided Dispatch/Records Mgmt. System"; includes patrol car and Public Safety System 50,000 50,000 50,000 50,000 50,000 50,000 fire truck laptops and software used to push information to TOV and other agencies; TOV portion of annual Intergraph software maintenance Transit Center Generator 200,000 - - - - - Replacement of generator at the Vail Village transit center; includes re-landscaping and re-wiring. Police E-ticketing system 189,800 - Electronic ticketing system; reduces data entry done by officers to record physical tickets; will interface with Full Court erator for East Vail Fire Station system - 50,000 To replace outdated generator at Station 1 7table vehicle lift 55,000 To service vehicles in fleet; current lift is 14 years old 2016: 4 flatbed pick up trucks for Streets crews, Electricians, Irrigation crew, and Wildland Fire; Class 8 Dump icle Expansion 145,000 I 700,000 2017: 4 yard Loader with accompanying snow blower; the need to haul out snow from the town's parking areas as infrastructure changes have impacted snow storage areas. 4,400,555 4,967,169 3,627,155 3,050,106 2,692,479 4,554,501 al Maintenance lVail ancement of Town Assets VillageInfo Booth 100,000 - - Remodel, including addition of restrooms and guest enhancements Guest Services Enhancements/Wayfinding 1,376,914 - Guest Service / Wayfinding enhancements outside of VRA district East Vail Fire Station 150,000 1,500,000 Renovation of East Vail fire station Energy Enhancements 347,944 - Implementation of energy audit enhancements; includes LED lighting project with shared cost of $170K from Holy Cross Fire Equipment 22,153 16,01 - - 2015: $20K set of equipment for ladder truck; 2016 $16K request for fire hose replacement ibrary Se -Check System Updat 18,000 16,000 - Library replacement kiosk alid security gate replacement requested st Meadow Drive Snowmelt 50,000 750,000 750,000 Snowmelt major repairs from Solaris to Austria House/Covered Bride�area���� West Vail Interchange Siglwalk Re - 500,000 Underneath the 1-70 bridge sidewalk is damaged Fire Truck Replacement 2,883 Rollover of 2014 replace pumper truck from 1999 475,000 200,000 4,250,000 4,600,000 East Vail roads; $25K for design and $450K in 2015 for shared project with ERWSD on Rockledge Rd; East Vail rods C-4 Neighborhood Road Reconstruction reconstruction design in 2018, Phase I in 2019, Phase II in 2020, Phase III was eliminated. 600,000 1,000,000 1,050,000 _ Nugget Lane and Bridge design in 2015-2016 and construction in 2017-2018. Partial Funding is from Federal grants; C-5 Neighborhood Bridge Reconstruction Lupine Bridge repairs in 2018 Replacement of all (30) cylinders/compressors purchased in 2007; Updated model addresses safety issues that have Fire Breathing Apparatus 17,862 - been identified in the current model, such as failure in high temperature environments; New units would also allow interoperability with surrounding departments who have gone to this updated unit type. PRMIR mn toward expan o e o - rado t ' useum Replace parking system in both structures (LH parking structure system had been scheduled for replacement in 2006); Parking Entry System / Equipment 149,153 - Better financial reporting and potential to interface with variable message signs and other parking systems across town; Partially reimbursed by VRA Previously $693K budgeted in 2014 for replacement of approximately 59 radios for PW, PD and Fire. Adjusted to only Radio Equipment replacement - 600,000 - include radios purchased over 12 years ago (in 2008 the town replaced a number of radios; these will not be replaced until 2018) Bus Camera System 350,000 - 15,000 15,000 Installation of software and cameras in buses; 2019/20 annual capital maintenance of camera replacement, etc. 26 10/20/2015 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET CHANGES IN FUND BALANCE FUND Increased cost from prior 5 -year plan Revisions / newly added project ' Placeholder items 2020 Scheduled replacement; Estimated life of 6 years SUMMARY OF REVENUE, EXPENDITURES, AND Amended 2015 2016 2017 CAPITAL PROJECTS 2018 2019 Hybrid Bus Battery Replacement 440,000 - Replace Buses 50,480 3,524,000 us Wash Equipmen!' 250,000 JL�zard Park Window Replacement 175,000 Municipal building remodel 1,500,000 5,000,000 Public Works Shops & Maintenance Buildings - - Public Works Equipment Wash Down/WQ Improvements - 250,000 Total Enhancements 5,582,389 11,215,000 1,343,000 New Assets Frontage Road improvements (VRA) - - - Chamonix Housing Development 2,000,000 - - 1-70 Underpass (VRA) 1,660,591 3,250,000 3,250,000 Lionshead Parking Structure Entry (VRA) 273,047 - - nshead Medians (VRA) East LH Circle pathway to Dobson (VRA) 100,000 790,000 Dobson Plaza (VRA) - 100,000 975,000 Buy -down Program 402,118 - - Buy -down Program Funded by Pay -in-Lieu 900,143 - - - 2,804,400 - 2015: ADA van for on-call pickups; 2016: 8 buses scheduled for replacement ($440.5K per bus); 2018: 6 buses scheduled for replacement ($467.4K per bus) Interior equipment needs replacement; original Replace windows at town -owned employee housing Planning money shifted to 2015; 2016/2017 amount is a placeholder for a significant remodel should a complete reconstruction not occur. This cost is an estimate only, actual cost will depend on the scope of the project. - 15,000,000 4,615,000 Expansion and remodel based on approved master plan for the Public Works shop complex Exterior wash area for large trucks not safe in the winter; request also includes improvement to how the waste water is disposed of 5,920,400 20,015,000 3,500,000 100,000 - Currently in 2015; pushed to 2019 (design in 2018) based on VVMC plans for expansion; From LH Parking structure to Municipal building; funded by VRA (see transfers below) - 2015 for infrastructure only; Construction currently unfunded 2015-2018 is the town's portion of this project since we were awarded RAMP funding from CDOT and includes the budget increase approved by both Council and CDOT Final construction bills, and to complete landscaping, lighting and artwork installation 1,400,000 Median construction from LH parking structure to Vail Spa Improve connection from the E LionsHead bus stop to Dobson; Per Council 9/16/14 push out one year pending Evergreen/VVMC projects; planning/design in 2016 100,000 Redevelop the center plaza of Dobson for better flow of bus traffic, people traffic (concerts); planning/design in 2016; Per Council 9/16/14 push out one year pending Evergreen/VVMC projects Carry -forward of program funding Carry forward current balance of program funding: Housing funded directly by Pay -in -Lieu fees collected from developers Total New Assets: 5,235,899 3,450,000 5,015,000 100,000 3,600,000 1,400,000 Total Expenditures 15,218,843 19,632,169 9,985,155 9,070,506 26,307,479 10,569,501 Other Financing Sources (Uses) Transfer from Vail Reinvestment Authority 2,349,470 3,500,000 5,065,000 Transfer to RETT - (3,900,000) - 150,000 3,650,000 1,450,000 1-70 underpass, Frontage Rd improvements; East LH and Dobson Plaza improvements; annual LH parking structure maintenance $50K - - - Transfer to RETT for Golf Clubhouse project Revenue Over (Under) Expenditures 195,924 (7,411,728) 7,555,235 4,032,533 (9,215,471) 4,718,174 Beginning Fund Balance 20,855,316 21,051,240 13,639,512 21,194,747 25,227,280 16,011,810 Ending Fund Balance 21,051,240 13,639,512 21,194,747 25,227,280 16,011,810 20,729,984 10/20/2015 28 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Increased cost from prior 5-year plan Revisions / newly added project Amended ' Placeholder items 2015 2016 2017 2018 2019 2020 5% 5% 3% 3% 31/6 Revenue Real Estate Transfer Tax 6,190,000 6,500,000 8,450,000 8,655,000 7,241,000 7,458,000 2016 5% increase from 2015 forecast YTD 2015 pacing slightly behind 2014 at this time; 2017 and 2018 include potential sales of Lion units; otherwise 3% per year increase Golf Course Lease 134,654 137,347 140,094 142,896 145,754 148,669 Annual lease payment from Vail Recreation District 2% annual increase - deposited to "Recreation Enhancement Account' (accompanying expenditure listed below) Intergovernmental Revenue 20,000 20,000 720,000 20,000 20,000 20,000 $20K Lottery fund proceeds; 2017 $700K CDOT TAP Grant for water quality improvements Project Reimbursements 943,133 - - - - - 2015:VRD portion for Golf Course Clubhouse construction (total amount $1.165M); 2016 VLMD partial reimbursement for Vail Interactive map project Donations 1,000 - - - - Recreation Amenity Fees 10,000 10,000 10,000 10,000 10,000 10,000 Earnings on Investments and Other 28,595 28,861 10,883 11,467 13,860 48,701 0.7% rate assumed Total Revenue 7,327,382 6,696,208 9,330,977 8,839,363 7,430,614 7,685,370 Expenditures Maintain Town Assets R-1 Annual Park and Landscape Maintenance 1,603,001 1,586,600 1,715,212 1,755,772 1,797,849 1,840,813 Ongoing path, park and open space maintenance, project mgmt.; 2017 increase due to estimated increase in park maintenance for Booth Creek Park, 1-70 underpass medians Management Fee to General Fund (5%) 309,500 325,000 422,500 432,750 362,050 372,900 5% of RETT Collections - fee remitted to the General Fund for administration Tree Maintenance 65,000 65,000 65,000 65,000 65,000 Regular maintenance for tree health within the town (spraying, removing, new trees); scale 65,000 spraying on town-owned property at approx. $120 per tree; Initiating tree-planting program for lost trees Forest Health Management 225,000 258,738 263,913 269,191 274,575 280,066 2016 added $5K public education and $4K replacement of 2 radios; increase summer crew to 6 (from 5) Street Furniture Replacement 250,020 50,000 50,000 25,000 10,000 50,000 2015 increased for recycling containers; also includes annual replacement or capital repairs, benches and bike racks R-2 Rec. Path Capital Maint 124,029 104,000 112,974 114,198 121,961 115,765 Capital maintenance of the town's recreation path system R-3 Park / Playground Capital Maintenance 98,500 100,200 108,525 106,326 104,655 Annual maintenance items include projects such as playground surface refurbishing, replacing 106,763 bear-proof trash cans, painting/staining of play structures, picnic shelter additions/repairs, and fence maintenance Flood Incident repairs 804,543 - - - - - Re-stabilization of Dowd Junction path; Repairs to culverts, drainage, and preventative improvements Alpine Garden Support 67,000 69,010 71,080 73,213 75,409 77,671 Annual operating support of the Betty Ford Alpine Gardens; assumes 3% increase per year Alpine Garden Education Center 500,000 - - - - Part of Council Contributions Eagle River Watershed Support 63,240 45,000 46,350 47,741 49,173 50,648 Annual support of the Eagle River Watershed Council programs; 2016 reduced based on average annual activity and larger projects now focused in water quality budget Actively Green by 2015 Program 38,500 40,000 - - - - Council Contribution for continuation of this town-wide recycling education and certification program run by Walking Mountains Public Art - Operating 100,248 104,132 106,215 108,339 110,506 112,716 Art in Public Places programming Vail Valley Trail Connection 10,000 - - - - Council Contribution to bike trail maintenance and certification Environmental Sustainability 541,889529,210 539,794 550,590 Environmental Sustainability programs ; 2016 includes $64K for Global Sustainable 561,602 Destination certification initial year; $200K increase in 2017 for water quality programs, public outreach; then 2% increase; 2014 increased by $250K for recycling education and rebate programs; 2015 includes new environmental planner position Total Maintenance 4,800,470 3,133,180 3,490,979 3,537,323 3,521,767 3,633,944 Enhancement of Town Assets Gore Valley Trail Realignment around Lionshead gondola Cgpre Valley Trail Reconstruction Conoco to Donov - 50,000 600,000 Gore Valley Trail Realignment at Lionshead gondola AnnjQW. - - Gore Valley Trail Reconstruction between Conoco and Donovan Pavilion 28 10/20/2015 TOWN OF VAIL2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Increased cost from prior 5 -year plan Revisions / newly added project Amended * Placeholder items 2015 2016 2017 2018 2019 2020 North Recreation Path- Sun Vail to Pedestrian Bridge North Recreation Bike Path reconstruction on North Frontage road between Sun Vail and the pedestrian Bridge Chalet Road sports court Construction of new sporting courts on Chalet Road Soft Surface Trails Trail enhancements Timber Ridge-Buffehr Creek Rd separation To finish path from TimberRidge to Roost; offset by Federal Grant of approx. $150K Ford Park Landscape Enhancement Ford Park landscaping improvements (in current areas - no net increase to size) Glen Lyon Rec Path Bridge 150,000 Reconstruction of trail near the Glen Lyon office building Donovan Park Improvements 384,000 2015 safety improvements to playground / park (10-11 years old); includes new picnic shelter Reconstruction of the recreation path from the Vail Library to Lionshead, including 12 ft. wide Library Recreation Path Reconstruction 1,181,580 concrete trail, repairs to eroded culverts at Middle Creek and stream bank erosion repair (50 ft. section); Based on Eagle River Water District study results; Includes estimates for stream bank repairs Streambank/tract mitigation 1,000,000 400,1)0 400,000 400,000 400,000 (from water to bank) and riparian repairs (from bank to land area and revegetation); Project will span several years 122,219 1,000,000 500,000 1,000,000 1,000,000 1,000,000 2015 accompany repairs made with stream bank/tract mitigation for storm water and culverts; Water Quality / Storm Water previously 2016 - 2020 was $400K each year 50,000 1,160,000 East Vail Water Quality Improvements; CDOT TAP grant funding of $770,000 in 2017 East Vail Water Quality TAPS East Vail Interchange Improvements 50,000 - 1,039,764 - - Landscaping design and construction of the interchange: $1,089,760; Applied for grant Permanent Skate Park 1,718,278 - - - 2015 Permanent skate park construction for LH Parking Structure "Atrium" site. This includes $100K for integrated art and $50K for snowmelt Stephens Park Safety Improvements - 225,000 _ Access improvements to include extended sidewalk, new stairs and other site improvements; playground was built in 1990's Buffehr Creek Park Safety Improvements - - 210,000 Replacement 14 -yr old "catalog" playground equipment with custom build in 2019; $60K to add a picnic shelter; previously budgeted in 2017 Ellefson Park Safety Improvements - 150,000 - Replacement 13 -yr old "catalog" playground equipment with custom build in 2018 Ford Park Portal Improvements 250,000 - TOV portion of improvements to six portals into Ford Park; Matching contribution from Vail Valley Foundation; Ford Park Playground/Lower Bench Improvements 1,341,122 Public restrooms ($511 K), playground safety improvements ($449.9K), and $380K for lower bench improvements such as the waterline relocation, new pavers and ADA parking Vail Trail 250,000 Vail Trail from Golden Peak to East Vail Ford Park Parking Lot Slope Revegetation 100,000 - Re -vegetate the slope down toward the river at the Ford Park parking lot Redevelopment of entire park including tennis courts, covered areas and playground Booth Creek Park 372,172 2,068,880 - - - structures; Tennis court ($262K) and playground ($385K) originally budgeted in 2014 will occur when overall park is reconstructed. laza/ Fountain/ttorm Sewer Reparrs'to Slifer Plaza - uhtain andstorm sew"' 449,226 85,000 85,000 85,000 85,000 Public Art - General program / art 85,000 To purchase sculptures, artwork, art programs and events; remainder is re -appropriated each year to accumulate enough funds Public Art - Winterfest 80,280 Annual Winterfest event; approximate cost of $25K per year; rely on donations; carryover balance from 2014 to recognize donations. Total Enhancements 7,398,877 4,653,880 3,820,000 3,299,764 1,745,000 2,085,000 VRD-Managed Facility Projects Recreation Enhancement Account 134,654 137,347 140,094 142,896 145,754 148,669 Annual rent paid by Vail Recreation District; to be re -invested in asset maintenance; 2015 golf maintenance building repairs; 2016 $400K for storage building; 11th hole pedestrian Golf Course - Other 113,983 551,822 12,000 31,506 28,828 219,568 bridge, asphalt driving and parking area; 2017 14th and 15th hole bridges, irrigation system; 2018 15th hole tee box, radiant heating system; 2019 clubhouse parking asphalt; 2020 steep slope roofing, wood trim/soffits 29 10/20/2015 10/20/2015 TOWN OF VAIL2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Increased cost from prior 5 -year plan Revisions / newly added project Amended ' Placeholder items 2015 2016 2017 2018 2019 2020 2015 renovate interior flooring; 2016 repairs to wood trim and beams, brick pavers, and copper rink system; 2017 Exterior doors, low slope roof, electrical switch gears, renovate changing Dobson Ice Arena 124,133 33,602 447,025 183,685 49,385 27,224 rooms, replace boiler; town portion of interior lighting; 2018 exterior caulking and replacement of windows and doors; 2019 replace concrete walkways, repair wood trim and beams; 2020 Exterior lighting, Overall cost increases, with some due to timing changes totals $176,487 Ford Park / Tennis Center Improvements 96,930 5,444 53,585 6,000 11,281 7,208 2015 tennis club roof; 2016 mechanical systems &locker room enhancements; 2017 mechanical systems, locker room enhancements & exterior doors maintenance; 2018 wood siding/trim; 2019 grading & drainage & brick pavers; 2020 exterior door repairs &metal hand rail replacement. Overall cost increases, with some due to timing changes totals $65,504 Athletic Fields 75,318 - - 17,424 - 10,746 2015 restroom / storage facility structure (increase from this addition $56K); 2018 asphalt parking lot & Towns portion of the irrigation system; 2020 wood trim and beam replacement Gymnastics Center 40,800 2017: Cooling system Nature Center - 69,754 - - - - 2016 Exterior windows, doors, wood siding and slope roof Total VRD-Managed Facility Projects 545,018 838,770 652,704 381,511 235,247 413,415 New Assets Golf Clubhouse & Nordic Center 9,961,347 3,900,000 Total includes $1.165M reimbursement from VRD, allocation of Recreation Enhancement Funds $765,440, Conference Center funds of $3.81VI, current RETT funds of $538,189 (Total project cost estimated at $13.8M, which includes previously spent RETT funds of $705,571 from 2012 & 2013) Ford Park Improvements & Fields 625,275 - 2015: ADA accessible parking ($30K of total). Per Council 9/17/14 ok for $200K for pavers & $150K for waterline near BFAG; remainder of project was reviewed 10/7/14 Total New Assets: 10,586,622 3,900,000 Total Expenditures 23,330,987 12,525,830 7,963,683 7,218,598 5,502,015 6,132,360 Other Financing Sources (Uses) Transfer from Capital Project Fund - 3,900,000 - - - - Transfer from Capital Projects Fund for Golf Clubhouse project per Council review 10/7/14 Transfer from Vail Reinvestment Authority 1,718,278 - 2015 Lionshead Skate park Transfer from Conf Center Fund 1,973,553 Remainder of transfer from Conf Center Funds for Golf Clubhouse ($3.8M) and Ford Park Field projects ($3.5M) Revenue Over (Under) Expenditures (12,311,774) (1,929,622) 1,367,294 1,620,764 1,928,599 1,553,010 16,282,049 3,970,276 Beginning Fund Balance 2,040,654 3,407,948 5,028,712 6,957,311 Ending Fund Balance $ 3,970,276 $ 2,040,654 $ 3,407,948 $ 5,028,712 $ 6,957,311 $ 8,510,322 10/20/2015 Revised post -Budget Preview meeting on 7/7/15 "Costs are estimates" Priority I Guest Services Enhancements Library Remodel Parking Expansion - South Frontage Road Simba Run Underpass Feasibility Study Energy Audit Enhancements Main Vail Station - major remodel Parking Expansion - LionsHead Parking Expansion - North Frontage Road Intermountain Fuels Reduction project Chamonix Housing development Technology Infrastructure Golden Peak Pickleball courts Priority II East Vail Fire Station Remodel Frontage Rd - LionsHead Golf Course Clubhouse LionsHead Park (Sundial Plaza) LionsHead Information Center Renovation LionsHead Parking Structure Enhancements Concert Hall Plaza (West Portal) Priority III Simba Run Underpass East LionsHead Circle (East Portal) Municipal Building Reconstruction N. Frontage Rd -East Vail N. Frontage Rd - West Vail Main Vail Round -about Major Reconstruction West Vail Round -about Major Reconstruction TOV share of Evergreen/VVMC roundabout Newly -identified projects: Alternative Fuel Infrastructure Flood repairs and improvements Purchase of real estate New biking & hiking trails Phase II of Timber Ridge redevelopment Venue for Education & Arts Water Quality Plan Bus Shelters Crosswalk Safety improvements Community Ice Skating Renovation of Town Mgr residence Library Landscaping Area/ Reading Area Ford Park- West Betty Ford Way Pavers Ford Park School House Eligible for funding from Capital Projects VRA RETT Fund $18.1 M - 536.2M 550,000 Status Included in 5 -year Capital Projects Fund Completed Includes parking from Cascade to PW Shops *per Council 4/19/11, removed $9.5M Partially complete Completed Completed Completed Cost range due to one or two levels (400 spcs with 2 levels; 200 spaces with one) Approx. 80-120 spaces Partially complete w/ bike lanes Per Council 7/7/15 upgrade to Priority I, wait for review of cost estimates prior to allocating funds i9Infrastructure currnetly included in budget; Council will review more detailed plans at upcoming meeting; future decision on whether to fund construction internally or involve private developer with some subsidy Per Council 717/15 keep in unfunded until specific projects identified; Council committed to funding projects that improve our communiation with guests and establish Vail as a leader in technology services Community request to replace tennis courts with pickleball courts; Estimates $500K - $1.1M depend on parking and ADA; Per Council 7/7/15: we need to plan on some improvement in 2016, whether tennis or pickleball 3,500,000 J J $25M - $30M 3,600,000 1,000,000 From Evergreen to EverVail Various funding sources Funded by VRA Funded by VRA Does not add spaces, but brings remainder of structure up to standards of new transit center and current codes; enhances guest experience; includes heated stairways on east side Funded by VRA Included in 5 -year Capital Projects Fund Included in 5 -year VRA funded Budgeted in 2014/2015 Completed Completed Completed CDOT grant awarded for $20M; TOV portion $6M funded by VRA Funded by VRA Completed Council will review options for town hall & parking either new construction or renovation at future meeting Turn lanes, bike paths, etc based on town's master plan Cost estimates will be reviewed after current projects completed Turn lanes, bike paths, etc based on town's master plan Cost estimates will be reviewed after current projects completed Recent paving and 1-70 Underpass project will extend the life of current Tier III due to 1-70 Underpass; may re-evaluate roundabouts need once underpass completed Recent paving and 1-70 Underpass project will extend the life of current Tier III due to 1-70 Underpass; may re-evaluate roundabouts need once underpass completed Staff estimates that this project may be 10 years out (from 2015); Per Council 7/7/15 leave on the list as Priority III for now 3,800,000 Council to look at prior to purchase of new buses scheduled for 2016 M; Continued through 2014 Completed 2 parcels have been recently identified: 10 acres at end of Snowberry and "Jack Carney" parcel in Potato Patch; Per Council 7/7/15 wait for supplemental to designate funds Per Council 7/7/15, want to review Open Lands plan at future meeting Per TROC board, not within 5 -year plan; Per Council 7/7/15, recent capital improvements have extended life for 7 years CSE Board to come back with "needs" for a center; potential for public/private partnership? ' Long term plan spanning a number of years Staff to look at potential for adding more bus shelters Staff to return to Council with options for crosswalk safety and potential locations Outdoor community ice at some of Vail parks such as Donovan 100,000 700,000 31 80,000 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE VAIL MARKETING FUND Expenditures Commission on Special Events Collection Fee - General Fund Total Expenditures Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance Revenue Earnings on Investments Total Revenue Expenditures - General Government Ford Amphitheater Project Total Expenditures Other Financing Sources (Uses) Transfer to RETT Fund Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance 300,000 300,000 300,000 309,000 16,457 16,239 17,100 17,687 316,457 316,239 317,100 326,687 11,876 2013 2014 2015 2016 Original Actual Actual Budget Proposed Revenue 213,157 19,463 1,200 Business Licenses $ 327,828 $ 324,776 $ 332,000 $ 332,000 Earnings on Investments 505 2,369 1,500 1,500 Total Revenue 328,333 327,145 333,500 333,500 Expenditures Commission on Special Events Collection Fee - General Fund Total Expenditures Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance Revenue Earnings on Investments Total Revenue Expenditures - General Government Ford Amphitheater Project Total Expenditures Other Financing Sources (Uses) Transfer to RETT Fund Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance 300,000 300,000 300,000 309,000 16,457 16,239 17,100 17,687 316,457 316,239 317,100 326,687 11,876 10,906 16,400 6,813 2014 Original Amended 2016 Actual 173,975 185,851 196,757 213,157 $ 185,851 $ 196,757 $ 213,157 $ 219,970 CONFERENCE CENTER FUND 2015 2015 2014 Original Amended 2016 Actual Budget Budget Proposed 19,463 1,200 11,200 - 19,463 1,200 11,200 - - 1,973,553 - 19,463 1,200 (1,962,353) - 1,942,890 107,772 1,962,353 - $ 1,962,353 $ 108,972 $ - $ - 32 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEAVY EQUIPMENT FUND Revenue Town of Vail Interagency Charge Insurance Reimbursements & Other Earnings on Investments Equipment Sales and Trade-ins Total Revenue Expenditures Salaries & Benefits Operating, Maintenance & Contracts Capital Outlay Total Expenditures Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance 2014 2015 2015 2016 Actual Original Amended Proposed $ 2,967,482 $ 3,011,352 $ 3,011,352 $ 2,931,767 59,309 - - - 14,146 14,650 14,650 14,650 60,034 148,270 148,270 104,910 3,100,971 3,174,272 3,174,272 3,051,327 934,286 994,189 994,189 1,021,433 1,508,774 1,467,757 1,467,757 1,280,567 734,910 839,700 1,255,654 821,400 3,177,970 3,301,646 3,717,600 3,123,400 (76,999) (127,374) (543,328) (72,073) 2,271,673 1,818,351 2,194,674 1,651,346 $ 2,194,674 $ 1,690,977 $ 1,651,346 $ 1,579,273 HEALTH INSURANCE FUND 2014 2015 2016 Actual Original Proposed Revenue Town of Vail Interagency Charge - Premium $ 3,150,000 $ 3,850,000 $ 3,850,000 Employee Contributions 586,473 695,000 695,000 Insurer Proceeds 714,932 - - Earnings on Investments 20,224 10,000 10,000 Total Revenue 4,471,629 4,555,000 4,555,000 Expenditures Health Inusrance Premiums HC Reform Fee Claims Paid Short-term Disability Pay Professional Fees Total Expenditures Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance 562,643 640,000 756,170 24,759 35,000 35,000 2,655,106 3,750,000 3,743,830 20,000 20,000 20,000 3,262,508 4,445,000 4,555,000 1,209,121 110,000 - 1,126,650 2,335,771 2,445,771 $ 2,335,771 $ 2,445,771 $ 2,445,771 33 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE DISPATCH SERVICES FUND 2014 2015 2015 2016 Actual Original Amended Proposed Revenue E911 Board Revenue $ 826,333 $ 797,382 $ 797,382 $ 742,627 Interagency Charges 1,105,027 1,099,174 1,099,174 1,175,653 Town of Vail Interagency Charge 590,961 630,588 630,588 663,214 Earnings on Investments 8,610 2,500 2,500 6,275 Other 624 - 10,000 - Total Revenue 2,531,555 2,529,644 2,539,644 2,587,769 Expenditures Salaries & Benefits 2,009,205 2,039,931 2,049,931 2,081,259 Operating, Maintenance & Contracts 409,567 489,165 489,165 513,358 Capital Outlay 2,925 - - - Total Expenditures 2,421,697 2,529,096 2,539,096 2,594,617 Revenue Over (Under) Expenditures 109,858 548 548 (6,848) Transfer to Capital Projects Fund (16,800) - - - Transfer from General Fund 22,338 22,338 - Beginning Fund Balance 780,025 769,169 873,083 895,969 Ending Fund Balance $ 873,083 $ 792,055 $ 895,969 $ 889,121 34 10/20/2015 TOWN OF VAIL 2016 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE TIMBER RIDGE ENTERPRISE FUND 35 10/20/2015 2014 2015 2015 2016 Actual Original Amended Proposed Revenue Rental Income $ 1,341,308 $ 1,182,948 $ 1,182,948 $ 1,304,531 Ground Lease $ 38,787 $ - Other Income 5,136 11,900 11,900 17,650 Total Revenue 1,385,231 1,194,848 1,194,848 1,322,181 Expenditures Operating, Maintenance & Contracts 627,977 589,697 589,697 510,588 Capital Outlay 941,034 100,000 275,000 236,000 Total Expenditures 1,569,011 689,697 864,697 746,588 Operating Income (183,780) 505,151 330,151 575,593 Non-operating Revenues (Expenses) Interest on Investments 1,812 1,560 1,560 600 Loan Principal Repayment to Capital Projects (345,966) (351,155) (351,155) (356,423) Fund Interest Payment to Capital Projects Fund (143,743) (138,487) (138,487) (133,142) Revenue Over (Under) Expenditures (671,677) 17,069 (157,931) 86,628 Beginning Fund Balance 1,530,027 663,224 858,350 700,419 Ending Fund Balance $ 858,350 $ 680,293 $ 700,419 $ 787,047 35 10/20/2015 ORDINANCE NO. 15 SERIES OF 2015 ANNUAL APPROPRIATION ORDINANCE: ADOPTING A BUDGET AND FINANCIAL PLAN AND MAKING APPROPRIATIONS TO PAY THE COSTS, EXPENSES, AND LIABILITIES OF THE TOWN OF VAIL, COLORADO, FOR ITS FISCAL YEAR JANUARY 1, 2016 THROUGH DECEMBER 31, 2016 WHEREAS, in accordance with Article IX of the Charter of the Town of Vail, Colorado, the Town Manager prepared and submitted to the Town Council a proposed long-range capital program for the Town and a proposed budget and financial plan for all Town funds and activities for the fiscal year; and WHEREAS, it is necessary for the Town Council to adopt a budget and financial plan for the 2015 fiscal year, to make appropriations for the amounts specified in the budget; and NOW, THEREFORE, be it ordained by the Town Council of the Town of Vail, Colorado, that: 1. The procedures prescribed in Article IX of the Charter of the Town of Vail, Colorado, for the enactment hereof, have been fulfilled. 2. Pursuant to Article IX of the Charter, the Town Council hereby makes the following annual appropriations for the Town of Vail, Colorado, for its fiscal year beginning on the first day of January, 2016, and ending on the 315` day of December, 2016: FUND AMOUNT General Fund $36,724,766 Capital Projects Fund 23,532,169 Real Estate Transfer Tax Fund 12,525,830 Vail Marketing Fund 326,687 Heavy Equipment Fund 3,123,400 Dispatch Services Fund 2,594,617 Health Insurance Fund 4,555,000 Timber Ridge Enterprise Fund 1,236,153 Total 84,618,622 Less Interfund Transfers (12,242,646) =Net Expenditure Budget 72,375,976 Ordinance No. 15. Series of 2015 10/20/2015 3. The Town Council hereby adopts the full and complete Budget and Financial Plan for the 2016 fiscal year for the Town of Vail, Colorado, which are incorporated by reference herein and made part hereof, and copies of said public records shall be made available to the public in the Municipal Building of the Town. This Ordinance shall take effect five (5) days after publication following the final passage hereof. 4. 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. 5. 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. 6. 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. 7. 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 ON FIRST READING, APPROVED AND ORDERED PUBLISHED ONCE IN FULL, this 6th day of October, 2016. A public hearing shall be held hereon on the 20th day of October, 2015, at 6:00 pm at the regular meeting of the Town Council of the Town of Vail, Colorado, in the Municipal Building of the Town. Andrew P. Daly, Mayor ATTEST: Patty McKenny, Town Clerk Ordinance No. 15. Series of 2015 10/20/2015 READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED IN FULL this 20th day of October 2015. Andrew P. Daly, Mayor ATTEST: Patty McKenny, Town Clerk Ordinance No. 15. Series of 2015 10/20/2015 TOWN OF VAIN VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: October 20, 2015 ITEM/TOPIC: Adjournment (7:05 p.m.) 10/20/2015