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HomeMy WebLinkAbout2018-12-04 Agenda and Supporting Documentation Town Council Evening Meeting AgendaVAIL TOWN COUNCIL REGULAR MEETING Evening Agenda Town Council Chambers 6:00 PM, December 4, 2018 TOWN Of 4IAJt Notes: Times of items are approximate, subject to change, and cannot be relied upon to determine what time Council will consider an item. Public comment will be taken on each agenda item. Citizen participation offers an opportunity for citizens to express opinions or ask questions regarding town services, policies or other matters of community concern, and any items that are not on the agenda. Please attempt to keep comments to three minutes; time limits established are to provide efficiency in the conduct of the meeting and to allow equal opportunity for everyone wishing to speak. 1. Citizen Participation 2. Proclamations 2.1. Proclamation No. 10, Series of 2018, A Proclamation Declaring December 10 min. 7, 2018, as "W hoVail Day"! Presenter(s): Meredith Macfarlane, General Manager Four Seasons Resort and Residences Vail and Kirsten Dunn, Director of Public Relations and Communications Four Seasons Resort and Residences Vail 3. Appointments for Boards and Commissions 3.1. Appoint Members to Commission on Special Events Presenter(s): Dave Chapin, Mayor 4. Consent Agenda 4.1. RESOLUTION NO. 39, SERIES OF 2018, a resolution amending and approving a mutual release of restrictive covenant amended and restated development agreement between the Town of Vail and Alejandro Gonzalez C i madevi lla. 4.2. Resolution No. 44 Series of 2018, A Resolution approving an Intergovernmental Agreement between the Town of Vail and Eagle County regarding the Town of Vail Recycle Drop Site and setting forth details in Regard Thereto. 4.3. Resolution No. 45, Series of 2018, A Resolution Approving the Purchase of Vail East Lodging Unit: 2, 4133 Spruce Way, Vail CO. 81657 4.4. TOV Fire Dept Letter to USFS Re: Muddy Pass/Sheephorn Project 5 min. December 4, 2018 - Page 1 of 5 4.5. FCC Cable Franchise Letter 5. Town Manager Report 5.1. Town Manager Report 10 min. 6. Presentations / Discussion 6.1. Update on Snow Days taking place December 13-16, 2018. 20 min. Presenter(s): Peggy Wolfe, Highline Action Requested of Council: No action requested. Informational only. Background: The Town of Vail, Vail Resorts, Highline, and community partners have come together to support a new and improved, large scale community wide event to stimulate demand and drive visitation in Vail from December 13 — 16, 2018. The Commission on Special Events funded Snow Days $30,000 in 2018 and the Vail Town Council funded an additional $270,000 in August 2018. This funding is in addition to Vail Resorts committing to fund $200,000 and provide additional sponsorships and marketing support. 6.2. CDOT I-70 West Vail Pass Auxiliary Lanes Project Update 15 min. Presenter(s): Greg Hall, Public Works Director, John Kronholm CDOT Project Manager and Dick Cleveland, Vail Representative Action Requested of Council: Listen to the presentation and provide feedback Background: CDOT is conducting an environmental assessment and conceptual design for safety improvements, including installing auxiliary lanes on the eastbound and westbound lanes on 1-70 on the west side of Vail Pass, from MM 180 to MM 190.Improvements in this project study area were included as a part of the preferred alternative CDOT selected in the 1- 70 Mountain Corridor Programmatic Environmental Impact Statement (1-70 PEIS, a tier 1 National Environmental Policy Act (NEPA) process). This presentation is an update of the progress to date and an invitation to a Public Meeting on December 13, 2018 from 4:30 to 6:30 at Donovan Pavilion. This meeting is critical to hear from the public regarding the potential impacts and mitigation required to eventually construct the project. Staff Recommendation: Provide initial feedback to CDOT and encourage the public to attend as well as Town Council members attendance at the Public Meeting December 13. 7. Action Items 7.1. Ordinance No. 23, Series of 2018, First Reading, An Ordinance Making 45 min. Adjustments to the Town of Vail General Fund, Capital Projects Fund, Housing Fund, Real Estate Transfer Tax Fund, Marketing Fund, Heavy Equipment Fund, and Dispatch Services Fund. Presenter(s): Kathleen Halloran, Finance Director and Carlie Smith, Financial Services Manager Action Requested of Council: Approve or approve with amendments Ordinance No. 23, Series 2018. Background: Please see attached memo. Staff Recommendation: Approve or approve with amendments Ordinance December 4, 2018 - Page 2 of 5 No. 23, Series 2018. 8. Public Hearings 8.1. Second reading of Ordinance No. 19, Series 2018, an ordinance repealing 20 min. and reenacting Chapter 14 of Title 4 of the Vail Town Code, regarding Short Term Rental Properties. Presenter(s): Kathleen Halloran, Finance Director and Johannah Richards, Sales Tax and Licensing Administrator Action Requested of Council: Approve or approve with amendments Ordinance No. 19, Series 2018 upon second reading. Background: Please see attached memo. Staff Recommendation: Approve or approve with amendments Ordinance No. 19, Series 2018 upon second reading. 8.2. Resolution No. 46, Series 2018, a resolution establishing fees for the 5 min. registration of Short Term Rental properties. Presenter(s): Kathleen Halloran, Finance Director Action Requested of Council: Approve or approve with amendments Resolution No. 46, Series 2018. Background: This resolution sets the fees for the annual registration of short term rental properties. Staff Recommendation: Approve or approve with amendments Resolution No. 46, Series 2018. 8.3. Second reading of Ordinance No. 21, Series 2018, an Ordinance adopting 30 min. 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, 2019 through December 31, 2019. Presenter(s): Kathleen Halloran, Finance Director and Carlie Smith, Financial Services Manager Action Requested of Council: Approve or approve with amendments Ordinance No. 21, Series 2018. Background: Please see attached memo. Staff Recommendation: Approve or approve with amendments Ordinance No. 21, Series 2018. 8.4. Ordinance No. 22, Series 2018, Second Reading, Ordinance providing for 5 min. the levy assessment and collection of the town property taxes due for the 2018 tax year and payable in the 2019 fiscal year. Presenter(s): Carlie Smith, Financial Services Manager Action Requested of Council: Approve or approve with amendments Ordinance No. 22, Series 2018. Background: The town is required by Colorado state law to certify the mill levy by December 15 of each year. Staff Recommendation: Approve or approve with amendments Ordinance No. 22, Series 2018. 9. Adjournment 9.1. Adjournment 9:00 pm (estimate) December 4, 2018 - Page 3 of 5 Meeting agendas and materials can be accessed prior to meeting day on the Town of Vail website www.vailgov.com. All town council meetings will be streamed live by High Five Access Media and available for public viewing as the meeting is happening. The meeting videos are also posted to High Five Access Media website the week following meeting day, www.highfivemedia.org. Please call 970-479-2136 for additional information. Sign language interpretation is available upon request with 48 hour notification dial 711. December 4, 2018 - Page 4 of 5 TOWN Of 9 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Proclamation No. 10, Series of 2018, A Proclamation Declaring December 7, 2018, as "WhoVail Day"! PRESENTER(S): Meredith Macfarlane, General Manager Four Seasons Resort and Residences Vail and Kirsten Dunn, Director of Public Relations and Communications Four Seasons Resort and Residences Vail ATTACHMENTS: Description Proclamation No. 10, Series of 2018 December 4, 2018 - Page 5 of 5 December 4, 2018 - Page 6 of 5 Proclamation A Proclamation Declaring WHEREAS, this holiday season there Stole Christmas," in that this season WHEREAS, Four Seasons Resort and Whoville-inspired gingerbread house, their families. The giant gingerbread children from the community; WHEREAS, the gingerbread house gingerbread tiles and features an entrance house by master carpenter Frank Bontempo; WHEREAS, the gingerbread tiles inside by Andrew Schweska, and decorated School, with a guest appearance from Grinch's dog Max; WHEREAS, the local Vail Mountain holiday carols for all to enjoy as part WHEREAS, the giant gingerbread house at 4pm, at the Four Seasons Resort beginning of the holiday season and come and enjoy; NOW, THEREFORE, BE IT PROCLAIMED Council of the Town of Vail, Colorado, recognized as "WHOVAIL Day" to be community, Vail, Colorado. Dated this 4th day of December 2018. Vail Town Council (0)TOWN OF VAIL No. 10, Series of 2018 December 7, 2018, as "WhoVail Day"! will be a new twist to the story "How the Grinch it's not Whoville, it's WhoVAIL! Residences Vail will unveil a life-size Dr. Seuss' as part of its holiday offerings for children and house combined efforts from their staff and measures 140 square feet with over 1,500 through which children can enter, built in- will be made by the Resort's Pastry team lead by the children from Red Sandstone Elementary The Grinch and Fizzy Bruno starring as the School presents its student choir who will perform of the celebration; will be unveiled on Friday, December 7, 2018 located at One Vail Road, symbolizing the providing an opportunity for all the community to by Mayor Dave Chapin and the Town that Friday, December 7, 2018, will be celebrated by all who in live and visit our Attest: p, 50 Y ��cING ,>, N OF L!:tt 7 , 4'0RA-eE° O�coMMUti�{ Dave Chapin, Mayor Tammy Nagel, Town Clerk December 4, 2018 - Page 6 of 5 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Appoint Members to Commission on Special Events PRESENTER(S): Dave Chapin, Mayor TOWN OF 1 X41 December 4, 2018 - Page 7 of 5 TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: RESOLUTION NO. 39, SERIES OF 2018, a resolution amending and approving a mutual release of restrictive covenant amended and restated development agreement between the Town of Vail and Alejandro Gonzalez Cimadevilla. ATTACHMENTS: Description Resolution 39, Series of 2018 December 4, 2018 - Page 8 of 5 RESOLUTION NO. 39 SERIES OF 2018 A RESOLUTION AMENDING AND APPROVING A MUTUAL RELEASE OF RESTRICTIVE COVENANT AMENDED AND RESTATED DEVELOPMENT AGREEMENT BETWEEN THE TOWN OF VAIL AND ALEJANDRO GONZALEZ CIMADEVILLA; 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"); WHEREAS, the members of the Town Council of the Town (the "Council") have been duly elected and qualified; WHEREAS, Alejandro Gonzalez Cimadevilla is the owner of that certain property ("the Property") located within the Town of Vail, Eagle County, Colorado, with a physical address of 44 Vail Road Unit 3 (aka Willow Place Unit 3), Vail, Colorado 81657; WHEREAS, a restrictive covenant ("Restrictive Covenant") was recorded against the Property for the sole purpose of creating an employee housing unit within the Town of Vail as provided in Chapter 12-13, Vail Town Code; WHEREAS, said Restrictive Covenant was recorded against the Property in the records of the Clerk and Recorder of Eagle County, Colorado on May 3, 1995 at Book 666, Page 480; WHEREAS, The Town is the beneficiary of said Restrictive Covenant; and WHEREAS, The Town approved a release of the Restrictive Covenant in exchange for the placement of an employee housing deed restriction located at Vail Village Filing 13, Block 2, Lot 23 W/2395 Bald Mountain Road Unit W with Resolution No. 26, Series of 2018 on July 3, 2018; WHEREAS, the owner Alejandro Gonzalez Cimadevilla wishes to amend the exchange from Vail Village Filing 13, Block 2, Lot 23 W/2395 Bald Mountain Road Unit W to Bald Mountain Townhomes Unit A5 / 2335 Bald Mountain Road Unit A5; WHEREAS, Releasee and the Town, pursuant to Section 12-13-5 of the Vail Town Code, wish to mutually release the Restrictive Covenant in exchange for the placement of an employee housing deed restriction on Bald Mountain Townhomes Unit A5 / 2335 Bald Mountain Road Unit A5, Vail, Colorado 81657 (the "Proposed EHU"). Resolution No. 39, Series of 2018 December 4, 2018 - Page 9 of 5 NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail, Colorado: Section 1. The Council hereby approves the Mutual Release of Restrictive Covenant and authorizes the Town Manager to execute the Mutual Release of Restrictive Covenant Agreement on behalf of the Town 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 the recording of an employee housing deed restriction in a form approved by the Town on the Proposed EHU. INTRODUCED, READ, APPROVED AND ADOPTED this 4th of December, 2018. Dave Chapin, Mayor ATTEST: Patty McKenny, Town Clerk Resolution No. 39, Series of 2018 December 4, 2018 - Page 10 of EXHIBIT A Condominium Unit A-5, Building A, BALD MOUNTAIN TOWNHOMES CONDOMINIUMS, According to the map recorded on January 12, 1979 in Book 280 at Page 780 as Reception o. 177189 and Supplemental Map recorded March 7, 1979 in Book 282 at Page 664 as Reception No. 168516, and as defined and described in the Condominium Declaration recorded January 12, 1979 in Book 280 at Page 779 as Reception No. 177188. Resolution No. 39, Series of 2018 December 4, 2018 - Page 11 of TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Resolution No. 44 Series of 2018, A Resolution approving an Intergovernmental Agreement between the Town of Vail and Eagle County regarding the Town of Vail Recycle Drop Site and setting forth details in Regard Thereto. ATTACHMENTS: Description Resolution No. 44 Series of 2018- Memo Resolution No. 44 Series of 2018 Recycle Site IGA_Eagle County_Town of Vail December 4, 2018 - Page 12 of TOWN OF VAIIL' Memorandum To: Vail Town Council From: Community Development Department Date: December 4, 2018 Subject: Resolution No. 44, Series of 2018, A Resolution Approving An Intergovernmental Agreement Between The Town of Vail and Eagle County Regarding the Town of Vail Recycle Drop Site I. PURPOSE The purpose of this memo is to introduce Resolution No. 44, Series of 2018, authorizing the Town Manager to enter the Town of Vail into an agreement with Eagle County regarding the Vail Recycle Drop Site. II. BACKGROUND The Town of Vail and Eagle County initially entered into an intergovernmental agreement (IGA) in 2010 regarding the operation and funding of the town's recycle drop site currently located in the west lot of the Community Development Department. This agreement has been extended annually, although reimbursement rates have not been adjusted despite increasing hauling costs. The new IGA maintains the existing agreement between the Town of Vail and Eagle County but adjusts the reimbursement rates to current hauling prices of $219.25 per haul from $190.00 per haul as established in the original agreement. III. STAFF RECOMMENDATION Staff recommends the Vail Town Council approve Resolution No. 44, Series of 2018 establishing a new agreement between the Town of Vail and Eagle County regarding the recycle drop site increasing the amount of funds reimbursed to the Town of Vail per haul. IV. ATTACHMENTS 1. Resolution No. 44, Series of 2018 2. Eagle County IGA Regarding Recycle Drop off Site December 4, 2018 - Page 13 of RESOLUTION NO. 44 Series of 2018 A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT BETWEEN THE TOWN OF VAIL AND EAGLE COUNTY REGARDING THE TOWN OF VAIL RECYCLE DROP OFF SITE WHEREAS, the Town and Eagle County (the "County") entered into an Intergovernmental Agreement (the "Agreement") on November 23, 2010 regarding the Town of Vail recycle drop off site; WHEREAS, the Agreement has since been amended annually to extend the term for consecutive one-year periods; WHEREAS, the Town and County wish to update the Agreement and enter into a new agreement (the "Amended IGA") regarding the recycle drop off site; and WHEREAS, the Town Council's approval of this Resolution is required to enter into the Amended IGA. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Town Council hereby approves the Amended IGA and authorizes the Town Manager to enter into the Amended IGA 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 4th day of December 2018. Dave Chapin, Town Mayor ATTEST: Tammy Nagel, Town Clerk December 4, 2018 - Page 14 of AGREEMENT BETWEEN EAGLE COUNTY, COLORADO AND TOWN OF VAIL REGARDING RECYCLE DROP OFF SITE THIS AGREEMENT ("Agreement"), is effective as of by and between Eagle County, Colorado, located at 500 Broadway, Eagle, CO 81631 ("County") and Town of Vail, Colorado a municipal corporation, located at 75 South Frontage Road, Vail, CO 81658 ("Town"). County and Town shall be collectively referred to as "Parties." WITNESSETH: WHEREAS, County has hired a vendor to transport collected recyclable material from drop-off collection sites situated throughout greater Eagle County to the Eagle County Recycled Materials Recovery Facility (MRF) located at 605 Ute Creek Road, Wolcott, Colorado; and WHEREAS, Town currently has an agreement with a contractor to manage their recycle drop-off site and desires to maintain that agreement rather than having County or its contractor provide such services; and WHEREAS, County and Town intend by this Agreement to set forth the scope of the responsibilities and related terms and conditions to govern the relationship between the Parties in connection with this Agreement. AGREEMENT NOW, THEREFORE, in consideration of the foregoing premises and the following promises, County and Town agree as follows: 1. County hereby acknowledges that Town currently has a contractual agreement with a hauler to manage their recycle drop-off site. 2. County will reimburse the Town at the rate of $219.25 per haul for co -mingled containers, newspaper containers and cardboard containers. County shall not be responsible for any fuel or environmental charges. Town shall send monthly invoices to County specifying the date of each haul, number of hauls and material types hauled. 3. All recyclable material collected at the Town's drop-off site shall be delivered to the Eagle County MRF. In the event the Town or its' contractor elects to deliver the recyclable materials collected at the Town to another location other than the Eagle County MRF then this Agreement shall immediately terminate and neither party shall have any obligations hereunder. 1 December 4, 2018 - Page 15 of 4. In the event Town terminates its current agreement for hauling services or chooses to not renew its existing hauling agreement, then County shall provide such services so long as County has the ability to provide such services and further has properly appropriated funds for such services. In the event that County provides hauling services for recyclable materials either directly or through a third party contractor this Agreement shall immediately terminate and neither party shall have any obligations hereunder. 5. County will issue payment to Town within thirty (30) days of receipt of a satisfactory monthly invoice from Town. 6. The term of this Agreement shall be through December 31, 2019 and shall automatically renew for four (4) consecutive calendar years unless terminated sooner by either Party as set forth herin. 7. Notwithstanding anything to the contrary contained in this Agreement, County shall have no obligations under this Agreement, nor shall any payments be made to Town in respect of any period after December 31st of any calendar year during the term without an appropriation therefore by County in accordance with a budget adopted by the Board of County Commissioners in compliance with Article 25, Title 30 of the Colorado Revised Statutes, the Local Government Budget Law (C.R.S. § 29-1-101 et.seq.) and the TABOR Amendment (Colorado Constitution, Article X, Sec. 20). 8. This Agreement shall be governed and construed in accordance with the laws of Colorado. Venue for any action arising out of any dispute pertaining to this Agreement shall be in the State of Colorado, District Court in and for Eagle County, Colorado. 9. This Agreement, and the rights and obligations created hereby, shall be binding upon and inure to the benefit of County and Town and their respective successors and assigns. Nothing herein expressed or implied is intended or should be construed to confer or give to any person or entity other than County or Town and their respective successors and assigns, any right, remedy or claim under or by reason hereof or by reason of any covenant or condition herein contained. 10. If any portion of this Agreement is held invalid or unenforceable for any reason by a court of competent jurisdiction, such portion shall be deemed severable and its invalidity or its unenforceability shall not affect the remaining provisions; such remaining provision shall be fully severable and this Agreement shall be construed and enforced as if such invalid provision had never been inserted into this Agreement. 11. This Agreement may be amended, modified, or changed in whole or in part only by written agreement duly authorized and executed by both County and Town or 2 December 4, 2018 - Page 16 of as otherwise set forth herein. This Agreement represents the full and complete understanding of County and Town and supersedes any prior agreements, discussions, negotiations, representations or understandings of County and Town with respect to the subject matter contained herein. 12. Either Party may terminate this Agreement, with or without cause, upon thirty (30) days written notice to the other Party. 13. The Parties hereto agree that neither has made or authorized any agreement with respect to the subject matter of this instrument other than expressly set forth herein, and no oral representation, promise, or consideration different from the terms herein contained shall be binding on either party, or its agents or employees hereto. 14. Any notice and all communications required under this Agreement shall be given in writing by personal delivery, fax, e-mail or mail to the appropriate party at the following addresses: County: Jesse Masten, Solid Waste & Recycling Manager Solid Waste & Recycling Department P.O. Box 473 Wolcott, Colorado 81655 Telephone: (970) 328-3472 Facsimile: (970) 328-3466 Jesse.Masten@eaglecounty.us Town: Kristin Bertuglia, Environmental Sustainability Manager Mark Hoblitzel, Environmental Sustainability Coordinator 75 South Frontage Road Vail, Colorado 81657 Telephone: (970) 477-3455 or (970) 479-2146 Facsimile: (970) 479-2157 kbertuglia@vailgov.com mhoblitzell@vailgov.com Notices shall be deemed given on the date of delivery or three days after the postmarked date of deposit, first class postage prepaid, in an official depositary of the U.S. Postal Service. (Rest of page left blank intentionally.) 3 December 4, 2018 - Page 17 of IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first set forth above. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its COUNTY MANAGER By: Jeff Shroll, County Manager TOWN OF VAIL: By: Print Name: Title: 4 December 4, 2018 - Page 18 of TOWN Of 9 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Resolution No. 45, Series of 2018, A Resolution Approving the Purchase of Vail East Lodging Unit: 2, 4133 Spruce Way, Vail CO. 81657 ATTACHMENTS: Description Resolution No. 45, Series of 2018 December 4, 2018 - Page 19 of RESOLUTION NO. 45 Series of 2018 A RESOLUTION APPROVING THE PURCHASE OF VAIL EAST LODGING UNIT: 2; 4133 SPRUCE WAY, 2, VAIL, CO 81657 WHEREAS, seller is the owner of property in the Town of Vail described as Building 7 Subdivision: Vail East Lodging Unit: 2; with an address 4133 Spruce Way, 2, Vail CO 81657 (the "Property"); WHEREAS, the Town Council wishes to purchase the Property from seller for $309,500.00 for use as employee housing, subject to the terms of the real estate contract (the "Agreement"); and WHEREAS, the Town Council's approval of this Resolution is required to ratify the Agreement. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. The Town Council hereby approves the purchase of the Property, subject to the terms of the Agreement, and authorizes the Town Manager to enter into the Agreement on behalf of the Town 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 4th day of December 2018. Dave Chapin, Town Mayor ATTEST: Tammy Nagel, Town Clerk December 4, 2018 - Page 20 of 1 BERKSHIRE HATHAWAY HomeServices Colorado Properties Berkshire Hathaway HomeServices ColoradoProperties 225 Wall Street, Suite 200 Vail, CO 81657 Kyle Denton Ph: 970-476-0476 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (CBS1-6-15) (Mandatory 1-16) THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) Date: 11/27/2018 AGREEMENT 1. AGREEMENT. Buyer agrees to buy and Seller agrees to sell, the Property described below on the terms and conditions set forth in this contract (Contract). 2. PARTIES AND PROPERTY. 2.1. Buyer. Buyer, Town of Vail , will take title to the Property described below as ❑ Joint Tenants ❑ Tenants In Common ® Other . 2.2. No Assignability. This Contract Is Not assignable by Buyer unless otherwise specified in Additional Provisions. 2.3. Seller. Seller, Molly A Helmreich , is the current owner of the Property described below. 2.4. Property. The Property is the following legally described real estate in the County of Eagle, Colorado: DESC: BLDG 7 SUBDIVISION: VAIL EAST LODGING UNIT: 2-L known as No. 4133 Spruce Way, 2 Vail, CO 81657, together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto, and all interest of Seller in vacated streets and alleys adjacent thereto, except as herein excluded (Property). 2.5. Inclusions. The Purchase Price includes the following items (Inclusions): 2.5.1. Inclusions - Attached. If attached to the Property on the date of this Contract, the following items are included unless excluded under Exclusions: lighting, heating, plumbing, ventilating and air conditioning units, TV antennas, inside telephone, network and coaxial (cable) wiring and connecting blocks/jacks, plants, mirrors, floor coverings, intercom systems, built-in kitchen appliances, sprinkler systems and controls, built-in vacuum systems (including accessories), garage door openers (including n/a remote controls). If checked, the following are owned by the Seller and included (leased items should be listed under Due Diligence Documents): ❑ None ❑ Solar Panels ❑ Water Softeners ❑ Security Systems ❑ Satellite Systems (including satellite dishes). If any additional items are attached to the Property after the date of this Contract, such additional items are also included in the Purchase Price. 2.5.2. Inclusions - Not Attached. If on the Property, whether attached or not, on the date of this Contract, the following items are included unless excluded under Exclusions: storm windows, storm doors, window and porch shades, awnings, blinds, screens, window coverings and treatments, curtain rods, drapery rods, fireplace inserts, fireplace screens, fireplace grates, heating stoves, storage sheds, carbon monoxide alarms, smoke/fire detectors and all keys. 2.5.3. Personal Property - Conveyance. Any personal property must be conveyed at Closing by Seller free and clear of all taxes (except personal property taxes for the year of Closing), liens and encumbrances, except . Conveyance of all personal property will be by bill of sale or other applicable legal instrument. CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 1 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 21 of 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 2.5.4. Other Inclusions. The following items, whether fixtures or personal property, are also included in the Purchase Price: 2.5.5. Parking and Storage Facilities. ® Use Only ❑ Ownership of the following parking facilities: 2 assigned parking spaces; and ❑ Use Only ® Ownership of the following storage facilities: those within said residence. 2.6. Exclusions. The following items are excluded (Exclusions): 2.7. Water Rights, Well Rights, Water and Sewer Taps. ❑ 2.7.1. Deeded Water Rights. The following legally described water rights: n/a Any deeded water rights will be conveyed by a good and sufficient n/a deed at Closing. ❑ 2.7.2. Other Rights Relating to Water. The following rights relating to water not included in §§ 2.7.1, 2.7.3, 2.7.4 and 2.7.5, will be transferred to Buyer at Closing: ❑ 2.7.3. Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if the well to be transferred is a "Small Capacity Well" or a "Domestic Exempt Water Well," used for ordinary household purposes, Buyer must, prior to or at Closing, complete a Change in Ownership form for the well. If an existing well has not been registered with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer must complete a registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing service in connection with the transaction, Buyer must file the form with the Division within sixty days after Closing. The Well Permit # is n/a. ❑ 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows: 2.7.5. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7.2 (Other Rights Relating to Water), § 2.7.3 (Well Rights), or § 2.7.4 (Water Stock Certificates), Seller agrees to convey such rights to Buyer by executing the applicable legal instrument at Closing. 3. DATES AND DEADLINES. Item No. Reference Event Date or Deadline 1 § 4.3 Alternative Earnest Money Deadline 11/29/2018 Thursday Title 2 § 8.1 Record Title Deadline 11/29/2018 Thursday 3 § 8.2 Record Title Objection Deadline 12/3/2018 Monday 4 § 8.3 Off -Record Title Deadline 11/29/2018 Thursday 5 § 8.3 Off -Record Title Objection Deadline 12/3/2018 Monday 6 § 8.4 Title Resolution Deadline 12/4/2018 Tuesday 7 § 8.6 Right of First Refusal Deadline per HOA declarations Owners' Association 8 § 7.3 Association Documents Deadline 11/28/2018 Wednesday 9 § 7.4 Association Documents Objection Deadline 12/4/2018 Tuesday Seller's Property Disclosure 10 § 10.1 Seller's Property Disclosure Deadline 11/28/2018 Wednesday Loan and Credit 11 § 5.1 Loan Application Deadline 12 § 5.2 Loan Objection Deadline 13 § 5.3 Buyer's Credit Information Deadline 14 § 5.3 Disapproval of Buyer's Credit Information Deadline 15 § 5.4 Existing Loan Documents Deadline CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Initials Page 2 of 19 CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 22 of 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 4. PURCHASE PRICE AND TERMS. 189 190 191 192 193 194 195 196 197 198 16 § 5.4 Existing Loan Documents Objection Deadline Amount Amount 17 § 5.4 Loan Transfer Approval Deadline $309,500.00 18 § 4.7 Seller or Private Financing Deadline $5,000.00 3 Appraisal New Loan 19 § 6.2 Appraisal Deadline 12/21/2018 Friday 20 § 6.2 Appraisal Objection Deadline 12/25/2018 Tuesday 21 § 6.2 Appraisal Resolution Deadline 12/27/2018 Thursday Survey 22 § 9.1 New ILC or New Survey Deadline 23 § 9.3 New ILC or New Survey Objection Deadline 24 § 9.4 New ILC or New Survey Resolution Deadline Inspection and Due Diligence 25 § 10.3 Inspection Objection Deadline 11/29/2018 Thursday 26 § 10.3 Inspection Resolution Deadline 12/3/2018 Monday 27 § 10.5 Property Insurance Objection Deadline 12/4/2018 Tuesday 28 § 10.6 Due Diligence Documents Delivery Deadline 29 § 10.6 Due Diligence Documents Objection Deadline 30 § 10.6 Due Diligence Documents Resolution Deadline 31 § 10.7 Conditional Sale Deadline Closing and Possession 32 § 12.3 Closing Date 1/3/2019 Thursday 33 § 17 Possession Date 1/3/2019 Thursday 34 § 17 Possession Time Time of Closing and Funding 35 § 28 Acceptance Deadline Date 36 § 28 Acceptance Deadline Time 37 38 Note: If FHA or VA loan boxes are checked in § 4.5.3 (Loan Limitations), the Appraisal deadlines do Not apply to FHA insured or VA guaranteed loans. 3.1. Applicability of Terms. Any box checked in this Contract means the corresponding provision applies. Any box, blank or line in this Contract left blank or completed with the abbreviation "N/A", or the word "Deleted" means such provision, including any deadline, is not applicable and the corresponding provision of this Contract to which reference is made is deleted. If no box is checked in a provision that contains a selection of "None", such provision means that "None" applies. The abbreviation "MEC" (mutual execution of this Contract) means the date upon which both parties have signed this Contract. 4.1. Price and Terms. The Purchase Price set forth below is payable in U.S. Dollars by Buyer as follows: Item No. Reference Item Amount Amount 1 § 4.1 Purchase Price $309,500.00 2 § 4.3 Earnest Money $5,000.00 3 § 4.5 New Loan CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 3 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 23 of 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 5. FINANCING CONDITIONS AND OBLIGATIONS. (Omitted as inapplicable) 4 § 4.6 Assumption Balance 5 § 4.7 Private Financing 6 § 4.7 Seller Financing 7 8 9 § 4.4 Cash at Closing $304,500.00 10 TOTAL $309,500.00 $309,500.00 4.2. Seller Concession. At Closing, Seller will credit to Buyer $ (Seller Concession). The Seller Concession may be used for any Buyer fee, cost, charge or expenditure to the extent the amount is allowed by the Buyer's lender and is included in the Closing Statement or Closing Disclosure, at Closing. Examples of allowable items to be paid for by the Seller Concession include, but are not limited to: Buyer's closing costs, loan discount points, loan origination fees, prepaid items and any other fee, cost, charge, expense or expenditure. Seller Concession is in addition to any sum Seller has agreed to pay or credit Buyer elsewhere in this Contract. 4.3. Earnest Money. The Earnest Money set forth in this section, in the form of a Check, will be payable to and held by Title Company of the Rockies (Earnest Money Holder), in its trust account, on behalf of both Seller and Buyer. The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually agree to an Alternative Earnest Money Deadline for its payment. The parties authorize delivery of the Earnest Money deposit to the company conducting the Closing (Closing Company), if any, at or before Closing. In the event Earnest Money Holder has agreed to have interest on Earnest Money deposits transferred to a fund established for the purpose of providing affordable housing to Colorado residents, Seller and Buyer acknowledge and agree that any interest accruing on the Earnest Money deposited with the Earnest Money Holder in this transaction will be transferred to such fund. 4.3.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the time of tender of this Contract, is as set forth as the Alternative Earnest Money Deadline. 4.3.2. Return of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled to the return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 25 and, except as provided in § 24, if the Earnest Money has not already been returned following receipt of a Notice to Terminate, Seller agrees to execute and return to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release form), within three days of Seller's receipt of such form. 4.4. Form of Funds; Time of Payment; Available Funds. 4.4.1. Good Funds. All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified check, savings and loan teller's check and cashier's check (Good Funds). 4.4.2. Time of Payment; Available Funds. All funds, including the Purchase Price to be paid by Buyer, must be paid before or at Closing or as otherwise agreed in writing between the parties to allow disbursement by Closing Company at Closing OR SUCH NONPAYING PARTY WILL BE IN DEFAULT. Buyer represents that Buyer, as of the date of this Contract, ® Does ❑ Does Not have funds that are immediately verifiable and available in an amount not less than the amount stated as Cash at Closing in § 4.1. 4.5. New Loan. (Omitted as inapplicable) 4.6. Assumption. (Omitted as inapplicable) 4.7. Seller or Private Financing. (Omitted as inapplicable) TRANSACTION PROVISIONS CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 4 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 24 of 265 266 5.3. Credit Information and Buyer's New Senior Loan. (Omitted as inapplicable) 267 268 269 5.4. Existing Loan Review. (Omitted as inapplicable) 270 271 6. APPRAISAL PROVISIONS. 272 6.1. Appraisal Definition. An "Appraisal" is an opinion of value prepared by a licensed or certified 273 274 appraiser, engaged on behalf of Buyer or Buyer's lender, to determine the Property's market value (Appraised 275 Value). The Appraisal may also set forth certain lender requirements, replacements, removals or repairs 276 necessary on or to the Property as a condition for the Property to be valued at the Appraised Value. 277 6.2. Appraisal Condition. The applicable appraisal provision set forth below applies to the respective 278 279 loan type set forth in § 4.5.3, or if a cash transaction (i.e. no financing), § 6.2.1 applies. 280 6.2.1. Conventional/Other. Buyer has the right to obtain an Appraisal. If the Appraised Value 281 is less than the Purchase Price, or if the Appraisal is not received by Buyer on or before Appraisal Deadline 282 Buyer may, on or before Appraisal Objection Deadline, notwithstanding § 8.3 or § 13: 283 284 6.2.1.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 285 6.2.1.2. Appraisal Objection. Deliver to Seller a written objection accompanied by 286 either a copy of the Appraisal or written notice from lender that confirms the Appraisal Value is less than the 287 Purchase Price. 288 289 6.2.1.3. Appraisal Resolution. If an Appraisal Objection is received by Seller, on or 290 before Appraisal Objection Deadline, and if Buyer and Seller have not agreed in writing to a settlement 291 thereof on or before Appraisal Resolution Deadline (§ 3), this Contract will terminate on the Appraisal 292 Resolution Deadline, unless Seller receives Buyer's written withdrawal of the Appraisal Objection before such 293 termination, i.e., on or before expiration of Appraisal Resolution Deadline. 294 295 6.2.2. FHA. It is expressly agreed that, notwithstanding any other provisions of this Contract, 296 the purchaser (Buyer) shall not be obligated to complete the purchase of the Property described herein or to 297 incur any penalty by forfeiture of Earnest Money deposits or otherwise unless the purchaser (Buyer) has been 298 given, in accordance with HUD/FHA or VA requirements, a written statement issued by the Federal Housing 299 300 Commissioner, Department of Veterans Affairs, or a Direct Endorsement lender, setting forth the appraised 301 value of the Property of not less than $ . The purchaser (Buyer) shall have the privilege and option of 302 proceeding with the consummation of this Contract without regard to the amount of the appraised valuation. 303 The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and 304 305 Urban Development will insure. HUD does not warrant the value nor the condition of the Property. The 306 purchaser (Buyer) should satisfy himself/herself that the price and condition of the Property are acceptable. 307 6.2.3. VA. It is expressly agreed that, notwithstanding any other provisions of this Contract, 308 the purchaser (Buyer) shall not incur any penalty by forfeiture of Earnest Money or otherwise or be obligated to 309 310 complete the purchase of the Property described herein, if the Contract Purchase Price or cost exceeds the 311 reasonable value of the Property established by the Department of Veterans Affairs. The purchaser (Buyer) 312 shall, however, have the privilege and option of proceeding with the consummation of this Contract without 313 regard to the amount of the reasonable value established by the Department of Veterans Affairs. 314 315 6.3. Lender Property Requirements. If the lender imposes any requirements, replacements, 316 removals or repairs, including any specified in the Appraisal (Lender Requirements) to be made to the Property 317 (e.g., roof repair, repainting), beyond those matters already agreed to by Seller in this Contract, Seller has the 318 Right to Terminate under § 25.1, (notwithstanding § 10 of this Contract), on or before three days following 319 320 Seller's receipt of the Lender Requirements, in Seller's sole subjective discretion. Seller's Right to Terminate in 321 this § 6.3 does not apply if, on or before any termination by Seller pursuant to this § 6.3: (1) the parties enter 322 into a written agreement regarding the Lender Requirements; or (2) the Lender Requirements have been 323 completed; or (3) the satisfaction of the Lender Requirements is waived in writing by Buyer. 324 325 6.4. Cost of Appraisal. Cost of the Appraisal to be obtained after the date of this Contract must be 326 timely paid by ®Buyer ❑Seller. The cost of the Appraisal may include any and all fees paid to the appraiser, 327 appraisal management company, lender's agent or all three. 328 329 330 CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 5 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 25 of 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 7. OWNERS' ASSOCIATION. This Section is applicable if the Property is located within a Common Interest Community and subject to such declaration. 7.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR THE COMMUNITY. THE OWNER OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATION FOR THE COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. 7.2. Owners' Association Documents. Owners' Association Documents (Association Documents) consist of the following: 7.2.1. All Owners' Association declarations, articles of incorporation, bylaws, articles of organization, operating agreements, rules and regulations, party wall agreements; 7.2.2. Minutes of most recent annual owners' meeting; 7.2.3. Minutes of any directors' or managers' meetings during the six-month period immediately preceding the date of this Contract. If none of the preceding minutes exist, then the most recent minutes, if any (§§ 7.2.1, 7.2.2 and 7.2.3, collectively, Governing Documents); and 7.2.4. The most recent financial documents which consist of: (1) annual and most recent balance sheet, (2) annual and most recent income and expenditures statement, (3) annual budget, (4) reserve study, and (5) notice of unpaid assessments, if any (collectively, Financial Documents). 7.3. Association Documents to Buyer. 7.3.1. Seller to Provide Association Documents. Seller is obligated to provide to Buyer the Association Documents, at Seller's expense, on or before Association Documents Deadline. Seller authorizes the Association to provide the Association Documents to Buyer, at Seller's expense. Seller's obligation to provide the Association Documents is fulfilled upon Buyer's receipt of the Association Documents, regardless of who provides such documents. 7.4. Conditional on Buyer's Review. Buyer has the right to review the Association Documents. Buyer has the Right to Terminate under § 25.1, on or before Association Documents Objection Deadline, based on any unsatisfactory provision in any of the Association Documents, in Buyer's sole subjective discretion. Should Buyer receive the Association Documents after Association Documents Deadline, Buyer, at Buyer's option, has the Right to Terminate under § 25.1 by Buyer's Notice to Terminate received by Seller on or before ten days after Buyer's receipt of the Association Documents. If Buyer does not receive the Association Documents, or if Buyer's Notice to Terminate would otherwise be required to be received by Seller after Closing Date, Buyer's Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer's Notice to Terminate within such time, Buyer accepts the provisions of the Association Documents as satisfactory, and Buyer waives any Right to Terminate under this provision, notwithstanding the provisions of § 8.6 (Right of First Refusal or Contract Approval). 8. TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE. 8.1. Evidence of Record Title. 8.1.1. Seller Selects Title Insurance Company. If this box is checked, Seller will select the title insurance company to furnish the owner's title insurance policy at Seller's expense. On or before Record Title Deadline, Seller must furnish to Buyer, a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price, or if this box is checked, ❑ an Abstract of Title certified to a current date. Seller will cause the title insurance policy to be issued and delivered to Buyer as CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 6 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 26 of 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 458 459 460 461 462 soon as practicable at or after Closing. ❑ 8.1.2. Buyer Selects Title Insurance Company. If this box is checked, Buyer will select the title insurance company to furnish the owner's title insurance policy at Buyer's expense. On or before Record Title Deadline, Buyer must furnish to Seller, a current commitment for owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price. If neither box in § 8.1.1 or § 8.1.2 is checked, § 8.1.1 applies. 8.1.3. Owner's Extended Coverage (OEC). The Title Commitment ®Will ❑Will Not contain Owner's Extended Coverage (OEC). If the Title Commitment is to contain OEC, it will commit to delete or insure over the standard exceptions which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) unrecorded mechanics' liens, (5) gap period (period between the effective date and time of commitment to the date and time the deed is recorded), and (6) unpaid taxes, assessments and unredeemed tax sales prior to the year of Closing. Any additional premium expense to obtain OEC will be paid by ❑Buyer ❑ Seller ® One -Half by Buyer and One -Half by Seller ❑ Other . Regardless of whether the Contract requires OEC, the Title Insurance Commitment may not provide OEC or delete or insure over any or all of the standard exceptions for OEC. The Title Insurance Company may require a New Survey or New ILC, defined below, among other requirements for OEC. If the Title Insurance Commitment is not satisfactory to Buyer, Buyer has a right to object under § 8.4 (Right to Object to Title, Resolution). 8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, covenants, conditions and restrictions burdening the Property, and (2) copies of any other documents (or, if illegible, summaries of such documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title Documents). 8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline, copies of all Title Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the county where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense of the party or parties obligated to pay for the owner's title insurance policy. 8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any portion of the Property (Abstract of Title) in Seller's possession on or before Record Title Deadline. 8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the Title Documents as set forth in § 8.4 (Right to Object to Title, Resolution) on or before Record Title Objection Deadline. Buyer's objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 13, or any other unsatisfactory title condition, in Buyer's sole subjective discretion. If the Abstract of Title, Title Commitment or Title Documents are not received by Buyer on or before the Record Title Deadline, or if there is an endorsement to the Title Commitment that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be delivered to Buyer. Buyer has until the earlier of Closing or ten days after receipt of such documents by Buyer to review and object to: (1) any required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or Title Documents, or (3) any endorsement to the Title Commitment. If Seller receives Buyer's Notice to Terminate or Notice of Title Objection, pursuant to this § 8.2 (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.4 (Right to Object to Title, Resolution). If Seller has fulfilled all Seller's obligations, if any, to deliver to Buyer all documents required by § 8.1 (Evidence of Record Title) and Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title Commitment and Title Documents as satisfactory. 8.3. Off -Record Title. Seller must deliver to Buyer, on or before Off -Record Title Deadline, true copies of all existing surveys in Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens (including, without limitation, governmental improvements approved, but not yet installed) or other title matters (including, without limitation, rights of first refusal and options) not shown by public records, of which Seller has actual knowledge (Off -Record Matters). Buyer has the right to inspect the Property to investigate if any third party has any right in the Property not shown by public records (e.g., unrecorded easement, boundary line discrepancy or water rights). Buyer's Notice to Terminate or Notice of Title Objection CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 7 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 27 of 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 of any unsatisfactory condition (whether disclosed by Seller or revealed by such inspection, notwithstanding § 8.2 and § 13), in Buyer's sole subjective discretion, must be received by Seller on or before Off -Record Title Objection Deadline. If an Off -Record Matter is received by Buyer after the Off -Record Title Deadline, Buyer has until the earlier of Closing or ten days after receipt by Buyer to review and object to such Off -Record Matter. If Seller receives Buyer's Notice to Terminate or Notice of Title Objection pursuant to this § 8.3 (Off -Record Title), any title objection by Buyer and this Contract are governed by the provisions set forth in § 8.4 (Right to Object to Title, Resolution). If Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts title subject to such rights, if any, of third parties of which Buyer has actual knowledge. 8.4. Right to Object to Title, Resolution. Buyer's right to object to any title matters includes, but is not limited to those matters set forth in §§ 8.2 (Record Title), 8.3 (Off -Record Title) and 13 (Transfer of Title), in Buyer's sole subjective discretion. If Buyer objects to any title matter, on or before the applicable deadline, Buyer has the following options: 8.4.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting to any title matter (Notice of Title Objection) on or before the applicable deadline, and if Buyer and Seller have not agreed to a written settlement thereof on or before Title Resolution Deadline, this Contract will terminate on the expiration of Title Resolution Deadline, unless Seller receives Buyer's written withdrawal of Buyer's Notice of Title Objection (i.e., Buyer's written notice to waive objection to such items and waives the Right to Terminate for that reason), on or before expiration of Title Resolution Deadline. If either the Record Title Deadline or the Off -Record Title Deadline, or both, are extended to the earlier of Closing or ten days after receipt of the applicable documents by Buyer, pursuant to § 8.2 (Record Title) or § 8.3 (Off -Record Title), the Title Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days after Buyer's receipt of the applicable documents; or 8.4.2. Title Objection, Right to Terminate. Buyer may exercise the Right to Terminate under § 25.1, on or before the applicable deadline, based on any unsatisfactory title matter, in Buyer's sole subjective discretion. 8.5. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY, AND BY OBTAINING FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND RECORDER, OR THE COUNTY ASSESSOR. Buyer has the Right to Terminate under § 25.1, on or before Off -Record Title Objection Deadline, based on any unsatisfactory effect of the Property being located within a special taxing district, in Buyer's sole subjective discretion. 8.6. Right of First Refusal or Contract Approval. If there is a right of first refusal on the Property or a right to approve this Contract, Seller must promptly submit this Contract according to the terms and conditions of such right. If the holder of the right of first refusal exercises such right or the holder of a right to approve disapproves this Contract, this Contract will terminate. If the right of first refusal is waived explicitly or expires, or the Contract is approved, this Contract will remain in full force and effect. Seller must promptly notify Buyer in writing of the foregoing. If expiration or waiver of the right of first refusal or approval of this Contract has not occurred on or before Right of First Refusal Deadline, this Contract will then terminate. 8.7. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed carefully. Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, including, without limitation, boundary lines and encroachments, set -back requirements, area, zoning, building code violations, unrecorded easements and claims of easements, leases and other unrecorded agreements, water on or under the Property, and various laws and governmental regulations concerning land use, development and environmental matters. 8.7.1. OIL, GAS, WATER AND MINERAL DISCLOSURE. THE SURFACE ESTATE OF THE CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 8 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 28 of 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 56 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 594 PROPERTY MAY BE OWNED SEPARATELY FROM THE UNDERLYING MINERAL ESTATE, AND TRANSFER OF THE SURFACE ESTATE MAY NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL ESTATE OR WATER RIGHTS. THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OTHER MINERALS, GEOTHERMAL ENERGY OR WATER ON OR UNDER THE SURFACE OF THE PROPERTY, WHICH INTERESTS MAY GIVE THEM RIGHTS TO ENTER AND USE THE SURFACE OF THE PROPERTY TO ACCESS THE MINERAL ESTATE, OIL, GAS OR WATER. 8.7.2. SURFACE USE AGREEMENT. THE USE OF THE SURFACE ESTATE OF THE PROPERTY TO ACCESS THE OIL, GAS OR MINERALS MAY BE GOVERNED BY A SURFACE USE AGREEMENT, A MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE COUNTY CLERK AND RECORDER. 8.7.3. OIL AND GAS ACTIVITY. OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR ADJACENT TO THE PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING, WELL COMPLETION OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING WELLS, REWORKING OF CURRENT WELLS, AND GAS GATHERING AND PROCESSING FACILITIES. 8.7.4. ADDITIONAL INFORMATION. BUYER IS ENCOURAGED TO SEEK ADDITIONAL INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THE PROPERTY, INCLUDING DRILLING PERMIT APPLICATIONS. THIS INFORMATION MAY BE AVAILABLE FROM THE COLORADO OIL AND GAS CONSERVATION COMMISSION. 8.7.5. Title Insurance Exclusions. Matters set forth in this Section, and others, may be excepted, excluded from, or not covered by the owner's title insurance policy. 8.8. Consult an Attorney. Buyer is advised to timely consult legal counsel with respect to all such matters as there are strict time limits provided in this Contract (e.g., Record Title Objection Deadline and Off -Record Title Objection Deadline). 9. NEW ILC, NEW SURVEY. 9.1. New ILC or New Survey. If the box is checked, a ❑ New Improvement Location Certificate (New ILC) ❑ New Survey in the form of is required and the following will apply: 9.1.1. Ordering of New ILC or New Survey. ❑Seller ❑Buyer will order the New ILC or New Survey. The New ILC or New Survey may also be a previous ILC or survey that is in the above -required form, certified and updated as of a date after the date of this Contract. 9.1.2. Payment for New ILC or New Survey. The cost of the New ILC or New Survey will be paid, on or before Closing, by: ❑Seller ❑Buyer or: 9.1.3. Delivery of New ILC or New Survey. Buyer, Seller, the issuer of the Title Commitment (or the provider of the opinion of title if an Abstract of Title), and will receive a New ILC or New Survey on or before New ILC or New Survey Deadline. 9.1.4. Certification of New ILC or New Survey. The New ILC or New Survey will be certified by the surveyor to all those who are to receive the New ILC or New Survey. 9.2. Buyer's Right to Waive or Change New ILC or New Survey Selection. Buyer may select a New ILC or New Survey different than initially specified in this Contract if there is no additional cost to Seller or change to the New ILC or New Survey Objection Deadline. Buyer may, in Buyer's sole subjective discretion, waive a New ILC or New Survey if done prior to Seller incurring any cost for the same. 9.3. New ILC or New Survey Objection. Buyer has the right to review and object to the New ILC or New Survey. If the New ILC or New Survey is not timely received by Buyer or is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may, on or before New ILC or New Survey Objection Deadline, notwithstanding § 8.3 or § 13: 9.3.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 9.3.2. New ILC or New Survey Objection. Deliver to Seller a written description of any matter that was to be shown or is shown in the New ILC or New Survey that is unsatisfactory and that Buyer requires Seller to correct. 9.3.3. New ILC or New Survey Resolution. If a New ILC or New Survey Objection is received by Seller, on or before New ILC or New Survey Objection Deadline, and if Buyer and Seller have not agreed in writing to a settlement thereof on or before New ILC or New Survey Resolution Deadline, this Contract will CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 9 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 29 of 595 596 597 598 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 terminate on expiration of the New ILC or New Survey Resolution Deadline, unless Seller receives Buyer's written withdrawal of the New ILC or New Survey Objection before such termination, i.e., on or before expiration of New ILC or New Survey Resolution Deadline. DISCLOSURE, INSPECTION AND DUE DILIGENCE 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE, BUYER DISCLOSURE AND SOURCE OF WATER. 10.1. Seller's Property Disclosure. On or before Seller's Property Disclosure Deadline , Seller agrees to deliver to Buyer the most current version of the applicable Colorado Real Estate Commission's Seller's Property Disclosure form completed by Seller to Seller's actual knowledge, current as of the date of this Contract. 10.2. Disclosure of Latent Defects; Present Condition. Seller must disclose to Buyer any latent defects actually known by Seller. Seller agrees that disclosure of latent defects will be in writing. Except as otherwise provided in this Contract, Buyer acknowledges that Seller is conveying the Property to Buyer in an "As Is" condition, " Where Is" and " With All Faults." 10.3. Inspection. Unless otherwise provided in this Contract, Buyer, acting in good faith, has the right to have inspections (by one or more third parties, personally or both) of the Property and Inclusions (Inspection), at Buyer's expense. If (1) the physical condition of the Property, including, but not limited to, the roof, walls, structural integrity of the Property, the electrical, plumbing, HVAC and other mechanical systems of the Property, (2) the physical condition of the Inclusions, (3) service to the Property (including utilities and communication services), systems and components of the Property (e.g., heating and plumbing), (4) any proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or noise (whether on or off the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's sole subjective discretion, Buyer may, on or before Inspection Objection Deadline: 10.3.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 10.3.2. Inspection Objection. Deliver to Seller a written description of any unsatisfactory physical condition that Buyer requires Seller to correct. 10.3.3. Inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection Deadline, and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution Deadline, this Contract will terminate on Inspection Resolution Deadline unless Seller receives Buyer's written withdrawal of the Inspection Objection before such termination, i.e., on or before expiration of Inspection Resolution Deadline. 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at Buyer's request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer must not permit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify, protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against any such liability, damage, cost or expense, or to enforce this section, including Seller's reasonable attorney fees, legal fees and expenses. The provisions of this section survive the termination of this Contract. This § 10.4 does not apply to items performed pursuant to an Inspection Resolution. 10.5. Insurability. Buyer has the right to review and object to the availability, terms and conditions of and premium for property insurance (Property Insurance). Buyer has the Right to Terminate under § 25.1, on or before Property Insurance Objection Deadline, based on any unsatisfactory provision of the Property Insurance, in Buyer's sole subjective discretion. 10.6. Due Diligence. 10.6.1. Due Diligence Documents. If the respective box is checked, Seller agrees to deliver copies of the following documents and information pertaining to the Property (Due Diligence Documents) to Buyer on or before Due Diligence Documents Delivery Deadline: ❑ 10.6.1.1. All current leases, including any amendments or other occupancy CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 10 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 30 of 661 662 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 707 708 709 710 711 712 713 714 715 716 717 718 719 720 721 722 723 724 725 726 agreements, pertaining to the Property. Those leases or other occupancy agreements pertaining to the Property that survive Closing are as follows (Leases): ❑ 10.6.1.2. Other documents and information: 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review and object to Due Diligence Documents. If the Due Diligence Documents are not supplied to Buyer or are unsatisfactory in Buyer's sole subjective discretion, Buyer may, on or before Due Diligence Documents Objection Deadline: 10.6.2.1. Notice to Terminate. Notify Seller in writing that this Contract is terminated; or 10.6.2.2. Due Diligence Documents Objection. Deliver to Seller a written description of any unsatisfactory Due Diligence Documents that Buyer requires Seller to correct. 10.6.3. Due Diligence Documents Resolution. If a Due Diligence Documents Objection is received by Seller, on or before Due Diligence Documents Objection Deadline, and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Due Diligence Documents Resolution Deadline, this Contract will terminate on Due Diligence Documents Resolution Deadline unless Seller receives Buyer's written withdrawal of the Due Diligence Documents Objection before such termination, i.e., on or before expiration of Due Diligence Documents Resolution Deadline. 10.7. Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property owned by Buyer and commonly known as . Buyer has the Right to Terminate under § 25.1 effective upon Seller's receipt of Buyer's Notice to Terminate on or before Conditional Sale Deadline if such property is not sold and closed by such deadline. This § 10.7 is for the sole benefit of Buyer. If Seller does not receive Buyer's Notice to Terminate on or before Conditional Sale Deadline, Buyer waives any Right to Terminate under this provision. 10.8. Source of Potable Water (Residential Land and Residential Improvements Only). Buyer ❑ Does ®Does Not acknowledge receipt of a copy of Seller's Property Disclosure or Source of Water Addendum disclosing the source of potable water for the Property. ® There is No Well. Buyer ❑Does ❑ Does Not acknowledge receipt of a copy of the current well permit. Note to Buyer: SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES. 10.9. Carbon Monoxide Alarms. Note: If the improvements on the Property have a fuel -fired heater or appliance, a fireplace, or an attached garage and include one or more rooms lawfully used for sleeping purposes (Bedroom), the parties acknowledge that Colorado law requires that Seller assure the Property has an operational carbon monoxide alarm installed within fifteen feet of the entrance to each Bedroom or in a location as required by the applicable building code. 10.10. Lead -Based Paint. Unless exempt, if the improvements on the Property include one or more residential dwellings for which a building permit was issued prior to January 1, 1978, this Contract is void unless (1) a completed Lead -Based Paint Disclosure (Sales) form is signed by Seller, the required real estate licensees and Buyer, and (2) Seller receives the completed and fully executed form prior to the time when this Contract is signed by all parties. Buyer acknowledges timely receipt of a completed Lead -Based Paint Disclosure (Sales) form signed by Seller and the real estate licensees. 10.11. Methamphetamine Disclosure. If Seller knows that methamphetamine was ever manufactured, processed, cooked, disposed of, used or stored at the Property, Seller is required to disclose such fact. No disclosure is required if the Property was remediated in accordance with state standards and other requirements are fulfilled pursuant to § 25-18.5-102, C.R.S. Buyer further acknowledges that Buyer has the right to engage a certified hygienist or industrial hygienist to test whether the Property has ever been used as a methamphetamine laboratory. Buyer has the Right to Terminate under § 25.1, upon Seller's receipt of Buyer's written Notice to Terminate, notwithstanding any other provision of this Contract, based on Buyer's test results that indicate the Property has been contaminated with methamphetamine, but has not been remediated to meet the standards established by rules of the State Board of Health promulgated pursuant to § 25-18.5-102, C.R.S. Buyer must promptly give written notice to Seller of the results of the test. CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 11 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 31 of 727 728 729 730 731 732 733 734 735 736 737 738 739 740 741 742 743 744 745 746 747 748 749 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 11. TENANT ESTOPPEL STATEMENTS. [Intentionally Deleted] CLOSING PROVISIONS 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING. 12.1. Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to enable the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If Buyer is obtaining a new loan to purchase the Property, Buyer acknowledges Buyer's lender is required to provide the Closing Company, in a timely manner, all required loan documents and financial information concerning Buyer's new loan. Buyer and Seller will furnish any additional information and documents required by Closing Company that will be necessary to complete this transaction. Buyer and Seller will sign and complete all customary or reasonably required documents at or before Closing. 12.2. Closing Instructions. Colorado Real Estate Commission's Closing Instructions ❑Are Are Not executed with this Contract. 12.3. Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as the Closing Date or by mutual agreement at an earlier date. The hour and place of Closing will be as designated by Buyer and Seller Individually. 12.4. Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs, quality, and extent of service vary between different settlement service providers (e.g., attorneys, lenders, inspectors and title companies). 13. TRANSFER OF TITLE. Subject to tender of payment at Closing as required herein and compliance by Buyer with the other terms and provisions hereof, Seller must execute and deliver a good and sufficient General Warranty deed to Buyer, at Closing, conveying the Property free and clear of all taxes except the general taxes for the year of Closing. Except as provided herein, title will be conveyed free and clear of all liens, including any governmental liens for special improvements installed as of the date of Buyer's signature hereon, whether assessed or not. Title will be conveyed subject to: 13.1. Those specific Exceptions described by reference to recorded documents as reflected in the Title Documents accepted by Buyer in accordance with Record Title, 13.2. Distribution utility easements (including cable TV), 13.3. Those specifically described rights of third parties not shown by the public records of which Buyer has actual knowledge and which were accepted by Buyer in accordance with Off -Record Title and New ILC or New Survey, 13.4. Inclusion of the Property within any special taxing district, and 13.5. Any special assessment if the improvements were not installed as of the date of Buyer's signature hereon, whether assessed prior to or after Closing, and 13.6. Other . 14. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid will be paid at or before Closing from the proceeds of this transaction or from any other source. 15. CLOSING COSTS, CLOSING FEE, ASSOCIATION FEES AND TAXES. 15.1. Closing Costs. Buyer and Seller must pay, in Good Funds, their respective closing costs and all other items required to be paid at Closing, except as otherwise provided herein. 15.2. Closing Services Fee. The fee for real estate closing services must be paid at Closing by ❑ Buyer ❑ Seller ® One -Half by Buyer and One -Half by Seller ❑ Other . 15.3. Status Letter and Record Change Fees. Any fees incident to the issuance of Association's statement of assessments (Status Letter) must be paid by ❑None ❑Buyer ❑Seller ®One -Half by Buyer and One -Half by Seller. Any record change fee assessed by the Association including, but not limited to, ownership record transfer fees regardless of name or title of such fee (Association's Record Change Fee) must be paid by ❑None ❑ Buyer ❑ Seller ® One -Half by Buyer and One -Half by Seller. CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 12 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 32 of 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 825 826 827 828 829 830 831 832 833 834 835 836 837 838 839 840 841 842 843 844 845 846 847 848 849 850 851 852 853 854 855 856 857 858 15.4. Local Transfer Tax. ❑ The Local Transfer Tax of % of the Purchase Price must be paid at Closing by ®None ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller. 15.5. Private Transfer Fee. Private transfer fees and other fees due to a transfer of the Property, payable at Closing, such as community association fees, developer fees and foundation fees, must be paid at Closing by ®None ❑Buyer ❑Seller ❑One -Half by Buyer and One -Half by Seller. The Private Transfer fee, whether one or more, is for the following association(s): in the total amount of % of the Purchase Price or 15.6. Water Transfer Fees. The Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed $ for: ❑ Water Stock/Certificates ❑ Water District ❑ Augmentation Membership ❑ Small Domestic Water Company ❑ and must be paid at Closing by None ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller 15.7. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by ® None ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller. 16. PRORATIONS. The following will be prorated to the Closing Date, except as otherwise provided: 16.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any, and general real estate taxes for the year of Closing, based on ❑ Taxes for the Calendar Year Immediately Preceding Closing ® Most Recent Mill Levy and Most Recent Assessed Valuation, adjusted by any applicable qualifying seniors property tax exemption, qualifying disabled veteran exemption or ❑ Other . 16.2. Rents. Rents based on ❑ Rents Actually Received ❑Accrued. At Closing, Seller will transfer or credit to Buyer the security deposits for all Leases assigned, or any remainder after lawful deductions, and notify all tenants in writing of such transfer and of the transferee's name and address. Seller must assign to Buyer all Leases in effect at Closing and Buyer must assume Seller's obligations under such Leases. 16.3. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in advance will be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred maintenance by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. Buyer acknowledges that Buyer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. Any special assessment assessed prior to Closing Date by the Association will be the obligation of ❑Buyer ®Seller. Except however, any special assessment by the Association for improvements that have been installed as of the date of Buyer's signature hereon, whether assessed prior to or after Closing, will be the obligation of Seller. Seller represents that the Association Assessments are currently payable at approximately $ 315 per month and that there are no unpaid regular or special assessments against the Property except the current regular assessments and $315/month are the regular HOA dues for the unit. Seller currently pays $415/month(extra $100/month) as part of a past assessment special assessment. There is currently approximately $1,616 left to pay off on the past special assessment. Seller agrees to pay off the remaining balance at closing. . Such assessments are subject to change as provided in the Governing Documents. Seller agrees to promptly request the Association to deliver to Buyer before Closing Date a current Status Letter. 16.4. Other Prorations. Water and sewer charges, propane, interest on continuing loan, and . 16.5. Final Settlement. Unless otherwise agreed in writing, these prorations are final. 17. POSSESSION. Possession of the Property will be delivered to Buyer on Possession Date at Possession Time, subject to the Leases as set forth in § 10.6.1.1. If Seller, after Closing, fails to deliver possession as specified, Seller will be subject to eviction and will be additionally liable to Buyer for payment of $ 200 per day (or any part of a day notwithstanding § 18.1) from Possession Date and Possession Time until possession is delivered. Buyer represents that Buyer will occupy the Property as Buyer's principal residence unless the following box is checked, then Buyer ❑Does Not represent that Buyer will occupy the Property as Buyer's CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 13 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 33 of 859 860 861 862 863 864 865 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 886 887 888 889 890 891 892 893 894 895 896 897 898 899 900 901 902 903 904 905 906 907 908 909 910 911 912 913 914 915 916 917 918 919 920 921 922 923 924 principal residence. ❑ If the box is checked, Buyer and Seller agree to execute a Post -Closing Occupancy Agreement. GENERAL PROVISIONS 18. DAY; COMPUTATION OF PERIOD OF DAYS, DEADLINE. 18.1. Day. As used in this Contract, the term "day" means the entire day ending at 11:59 p.m., United States Mountain Time (Standard or Daylight Savings as applicable). 18.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending date is not specified, the first day is excluded and the last day is included (e.g., three days after MEC). If any deadline falls on a Saturday, Sunday or federal or Colorado state holiday (Holiday), such deadline ® Will ❑ Will Not be extended to the next day that is not a Saturday, Sunday or Holiday. Should neither box be checked, the deadline will not be extended. 19. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND WALK-THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both will be delivered in the condition existing as of the date of this Contract, ordinary wear and tear excepted. 19.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss prior to Closing in an amount of not more than ten percent of the total Purchase Price (Property Damage), and if the repair of the damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds, will use Seller's reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 25.1, on or before Closing Date if the Property is not repaired before Closing Date or if the damage exceeds such sum. Should Buyer elect to carry out this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to Closing or, at the option of Buyer, (1) Seller must assign to Buyer the right to the proceeds at Closing, if acceptable to Seller's insurance company and Buyer's lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney requiring the Seller to escrow at Closing from Seller's sale proceeds the amount Seller has received and will receive due to such damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim. 19.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication services), system, component or fixture of the Property (collectively Service) (e.g., heating or plumbing), fail or be damaged between the date of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement of such Inclusion or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance proceeds received by Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 25.1, on or before Closing Date, or, at the option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such Inclusion or Service. Such credit must not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim against the Association, if any, will survive Closing. Seller and Buyer are aware of the existence of pre -owned home warranty programs that may be purchased and may cover the repair or replacement of such Inclusions. 19.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation action. Buyer has the Right to Terminate under § 25.1, on or before Closing Date, based on such condemnation action, in Buyer's sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the Property and Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution in the value of CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 14 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 34 of 925 926 927 928 929 930 931 932 933 934 935 936 937 938 939 940 941 942 943 944 945 946 947 948 949 950 951 952 953 954 955 956 957 958 959 960 961 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 984 985 986 987 988 989 990 the Property or Inclusions but such credit will not include relocation benefits or expenses, or exceed the Purchase Price. 19.4. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract. 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge that the respective broker has advised that this Contract has important legal consequences and has recommended the examination of title and consultation with legal and tax or other counsel before signing this Contract. 21. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence for all dates and deadlines in this Contract. This means that all dates and deadlines are strict and absolute. If any payment due, including Earnest Money, is not paid, honored or tendered when due, or if any obligation is not performed timely as provided in this Contract or waived, the non -defaulting party has the following remedies: 21.1. If Buyer is in Default: ❑ 21.1.1. Specific Performance. Seller may elect to cancel this Contract and all Earnest Money (whether or not paid by Buyer) will be paid to Seller and retained by Seller. It is agreed that the Earnest Money is not a penalty, and the Parties agree the amount is fair and reasonable. Seller may recover such additional damages as may be proper. Alternatively, Seller may elect to treat this Contract as being in full force and effect and Seller has the right to specific performance or damages, or both. 21.1.2. Liquidated Damages, Applicable. This § 21.1.2 applies unless the box in § 21.1.1. is checked. Seller may cancel this Contract. All Earnest Money (whether or not paid by Buyer) will be paid to Seller, and retained by Seller. It is agreed that the Earnest Money specified in § 4.1 is LIQUIDATED DAMAGES, and not a penalty, which amount the parties agree is fair and reasonable and (except as provided in §§ 10.4, 22, 23 and 24), said payment of Earnest Money is SELLER'S ONLY REMEDY for Buyer's failure to perform the obligations of this Contract. Seller expressly waives the remedies of specific performance and additional damages. 21.2. If Seller is in Default: Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received hereunder will be returned and Buyer may recover such damages as may be proper. Alternatively, Buyer may elect to treat this Contract as being in full force and effect and Buyer has the right to specific performance or damages, or both. 22. LEGAL FEES, COST AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration or litigation relating to this Contract, prior to or after Closing Date, the arbitrator or court must award to the prevailing party all reasonable costs and expenses, including attorney fees, legal fees and expenses. 23. MEDIATION. If a dispute arises relating to this Contract, (whether prior to or after Closing) and is not resolved, the parties must first proceed, in good faith, to mediation. Mediation is a process in which the parties meet with an impartial person who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. Before any mediated settlement is binding, the parties to the dispute must agree to the settlement, in writing. The parties will jointly appoint an acceptable mediator and will share equally in the cost of such mediation. The obligation to mediate, unless otherwise agreed, will terminate if the entire dispute is not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at that party's last known address (physical or electronic as provided in § 27). Nothing in this Section prohibits either party from filing a lawsuit and recording a lis pendens affecting the Property, before or after the date of written notice requesting mediation. This section will not alter any date in this Contract, unless otherwise agreed. 24. EARNEST MONEY DISPUTE. Except as otherwise provided herein, Earnest Money Holder must release the Earnest Money following receipt of written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding the Earnest Money, Earnest Money Holder is not required to release the CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 15 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 35 of 991 Earnest Money. Earnest Money Holder, in its sole subjective discretion, has several options: (1) wait for any 992 proceeding between Buyer and Seller; (2) interplead all parties and deposit Earnest Money into a court of 993 competent jurisdiction, (Earnest Money Holder is entitled to recover court costs and reasonable attorney and 994 995 legal fees incurred with such action); or (3) provide notice to Buyer and Seller that unless Earnest Money 996 Holder receives a copy of the Summons and Complaint or Claim (between Buyer and Seller) containing the 997 case number of the lawsuit (Lawsuit) within one hundred twenty days of Earnest Money Holder's notice to the 998 parties, Earnest Money Holder is authorized to return the Earnest Money to Buyer. In the event Earnest Money 999 1000 Holder does receive a copy of the Lawsuit, and has not interpled the monies at the time of any Order, Earnest 1001 Money Holder must disburse the Earnest Money pursuant to the Order of the Court. The parties reaffirm the 1002 obligation of Mediation. This Section will survive cancellation or termination of this Contract. 1003 1004 1005 25. TERMINATION. 1006 25.1. Right to Terminate. If a party has a right to terminate, as provided in this Contract (Right to 1007 Terminate), the termination is effective upon the other party's receipt of a written notice to terminate (Notice to 1008 Terminate), provided such written notice was received on or before the applicable deadline specified in this 1009 1010 Contract. If the Notice to Terminate is not received on or before the specified deadline, the party with the Right 1011 to Terminate accepts the specified matter, document or condition as satisfactory and waives the Right to 1012 Terminate under such provision. 1013 25.2. Effect of Termination. In the event this Contract is terminated, all Earnest Money received 1014 1015 hereunder will be returned and the parties are relieved of all obligations hereunder, subject to §§ 10.4, 22, 23 1016 and 24. 1017 1018 26. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL; SUCCESSORS. This Contract, its exhibits and 1019 specified addenda, constitute the entire agreement between the parties relating to the subject hereof, and any 1020 1021 prior agreements pertaining thereto, whether oral or written, have been merged and integrated into this 1022 Contract. No subsequent modification of any of the terms of this Contract is valid, binding upon the parties, or 1023 enforceable unless made in writing and signed by the parties. Any right or obligation in this Contract that, by its 1024 terms, exists or is intended to be performed after termination or Closing survives the same. Any successor to a 1025 1026 Party receives the predecessor's benefits and obligations of this Contract. 1027 1028 27. NOTICE, DELIVERY, AND CHOICE OF LAW. 1029 27.1. Physical Delivery and Notice. Any document, or notice to Buyer or Seller must be in writing, 1030 1031 except as provided in § 27.2, and is effective when physically received by such party, any individual named in 1032 this Contract to receive documents or notices for such party, the Broker, or Brokerage Firm of Broker working 1033 with such party (except any notice or delivery after Closing must be received by the party, not Broker or 1034 Brokerage Firm). 1035 1036 27.2. Electronic Notice. As an alternative to physical delivery, any notice, may be delivered in 1037 electronic form to Buyer or Seller, any individual named in this Contract to receive documents or notices for 1038 such party, the Broker or Brokerage Firm of Broker working with such party (except any notice or delivery after 1039 Closing must be received by the party; not Broker or Brokerage Firm) at the electronic address of the recipient 1040 1041 by facsimile, email or . 1042 27.3. Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: (1) email 1043 at the email address of the recipient, (2) a link or access to a website or server provided the recipient receives 1044 the information necessary to access the documents, or (3) facsimile at the Fax No. of the recipient. 1045 1046 27.4. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed 1047 in accordance with the laws of the State of Colorado that would be applicable to Colorado residents who sign a 1048 contract in Colorado for real property located in Colorado. 1049 1050 1051 28. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, 1052 by Buyer and Seller, as evidenced by their signatures below, and the offering party receives notice of such 1053 acceptance pursuant to § 27 on or before Acceptance Deadline Date and Acceptance Deadline Time. If 1054 accepted, this document will become a contract between Seller and Buyer. A copy of this Contract may be 1055 executed by each part , separately, and when each parthas executed a copy thereof, such copies taken1056 CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 16 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 36 of 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 1122 together are deemed to be a full and complete contract between the parties. 29. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith including, but not limited to, exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations, Title Insurance, Record Title and Off -Record Title, New ILC, New Survey and Property Disclosure, Inspection, Indemnity, Insurability, Due Diligence, Buyer Disclosure and Source of Water. ADDITIONAL PROVISIONS AND ATTACHMENTS 30. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate Commission.) This Contract to Buy and Sell Real Estate is conditioned and contingent upon the Vail Town Council granting authorization to proceed with the purchase of the Property described in Section 1, subject to the terms of the Contract. Authorization to proceed shall be by consideration of a Town Council Resolution on December 4, 2018. Section 15.4. Local Transfer Tax: The buyer, The Town of Vail, agrees to forgo the 1% Town of Vail Transfer Tax on the sale of this property. Both Buyer and Seller shall have no obligation to pay the 1% Town of Vail Transfer Tax at the time of closing. Section 16.3: Seller shall pay off the remaining special assessment on the property in the approximate amount of $1,616 at the time of closing 31. ATTACHMENTS. 31.1. The following attachments are a part of this Contract: 31.1.1. Post -Closing Occupancy Agreement. If the Post -Closing Occupancy Agreement box is checked in § 17 the Post -Closing Occupancy Agreement is attached. 31.2. The following disclosure forms are attached but are not a part of this Contract: SIGNATURES Date: Buyer: Town of Vail By: George Ruther [NOTE: If this offer is being countered or rejected, do not sign this document. Refer to § 32] Date: Seller: Molly A Helmreich 32. COUNTER; REJECTION. This offer is ❑ Countered ❑ Rejected. Initials only of party (Buyer or Seller) who countered or rejected offer Molly A Helmreich END OF CONTRACT TO BUY AND SELL REAL ESTATE CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 17 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 37 of 1123 1124 33. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. 1125 (To be completed by Broker working with Buyer) 1126 1127 1128 Broker ❑ Does ® Does Not acknowledge receipt of Earnest Money deposit and, while not a party to the 1129 Contract, agrees to cooperate upon request with any mediation concluded under § 23. Broker agrees that if 1130 Brokerage Firm is the Earnest Money Holder and, except as provided in § 24, if the Earnest Money has not 1131 1132 already been returned following receipt of a Notice to Terminate or other written notice of termination, Earnest 1133 Money Holder will release the Earnest Money as directed by the written mutual instructions. Such release of 1134 Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed written mutual 1135 instructions, provided the Earnest Money check has cleared. 1136 1137 1138 Broker is working with Buyer as a ® Buyer's Agent ❑ Seller's Agent ❑ Transaction -Broker in this 1139 transaction. ❑ This is a Change of Status. 1140 1141 1142 Brokerage Firm's compensation or commission is to be paid by ElListing Brokerage Firm 1143 ❑ Buyer ❑ Other. 1144 1145 Brokerage Firm's Name: Berkshire Hathaway HomeServices ColoradoProperties 1146 1147 1148 1149 1150 1151 Date: 11/27/2018 1152 Broker's Name: Kyle Denton 1153 Address: 225 Wall Street, Suite 200 Vail, CO 81657 1154 Ph: 970-476-0476 Fax: Email Address: k le vaildenton.com 1155 y 1156 1157 1158 34. BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE. 1159 1160 (To be completed by Broker working with Seller) 1161 1162 Broker ❑ Does ❑ Does Not acknowledge receipt of Earnest Money deposit and, while not a party to the 1163 Contract, agrees to cooperate upon request with any mediation concluded under § 23. Broker agrees that if 1164 1165 Brokerage Firm is the Earnest Money Holder and, except as provided in § 24, if the Earnest Money has not 1166 already been returned following receipt of a Notice to Terminate or other written notice of termination, Earnest 1167 Money Holder will release the Earnest Money as directed by the written mutual instructions. Such release of 1168 Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed written mutual 1169 instructions, provided the Earnest Money check has cleared. 1170 1171 1172 Broker is working with Seller as a ❑ Seller's Agent ❑ Buyer's Agent ❑ Transaction -Broker in this 1173 transaction. ❑ This is a Change of Status. 1174 1175 1176 Brokerage Firm's compensation or commission is to be paid by ❑ Seller ❑ Buyer ❑ Other . 1177 Brokerage Firm's Name: 1178 Broker Date: 1179 1180 Address: , CO 1181 Ph: Fax: Email Address: 1182 CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE (RESIDENTIAL) 1183 CTM eContracts - ®2016 CTM Software Corp. 1184 1185 1186 1187 1188 CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 18 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 38 of 1189 1190 1191 CBS1-6-15. CONTRACT TO BUY AND SELL REAL ESTATE - Residential Page 19 of 19 Initials CTMeContracts.com - ©2018 CTM Software Corp. December 4, 2018 - Page 39 of TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: TOV Fire Dept Letter to USFS Re: Muddy Pass/Sheephorn Project ATTACHMENTS: Description Staff Memo Regarding USFS Muddy Pass Project USFS Muddy Pass-Sheephorn Project Comment Letter USFS NOPA Muddy Pass Sheephorn December 4, 2018 - Page 40 of TOWN OF VAIL' Memorandum To: Town Council From: Mark Novak, Fire Chief Date: December 4, 2018 Subject: USFS Muddy Pass/Sheephorn Project Purpose: The purpose of this memo is to provide background information regarding the potential submittal of a letter supporting and commenting on the USFS-Eagle/Holy Cross Ranger District's proposed Muddy Pass/Sheephorn Project II. Background The USFS is proposing the Muddy Pass/Sheephorn project which will be implemented on USFS lands north of the Town of Vail and continuing to the west towards the Trough Road. The proposed action has multiple objectives which include: 1. Provide commercial forest products and/or biomass to local industries. 2. Increase tree age/size class diversity at the stand and landscape scales, thereby increasing forest resistance and resilience to disturbances such as future bark beetle outbreaks, fires, and other climate related mortality events. 3. Manage stand density in young stands of lodgepole pine to remove dwarf mistletoe, reduce potential crown fire spread, accelerate tree growth rates, and increase tree vigor. 4. Increase forage productivity for wildlife, such as elk and deer. Although the project is not entirely adjacent to the Town of Vail, staff from the fire department suggest that a support/comment letter is appropriate due to the potential wildfire mitigation benefits that could positively benefit the Town of Vail when a wildfire occurs and proposed benefits to wildlife habitat. The comments incorporated in the letter request that consideration be given to additional actions which will increase both the wildfire mitigation value of the project and the wildlife habitat value. III. Requested Action Approve on consent, a letter to USFS-Eagle/Holy Cross Ranger District regarding proposed Muddy Pass/Sheephorn Project. IV. Attachments A. Comment letter to USFS regarding the Muddy Pass/Sheephorn Project B. USFS Notice of Proposed Action: Muddy Pass/Sheephorn Project December 4, 2018 - Page 41 of TOWN OF VAIL November 27, 2018 Richard Truex Acting District Ranger c/o Brett Crary PO Box 190 Minturn, CO 81645 Dear Mr. Truex, Please accept this letter as formal comment for the Muddy Pass- Sheephorn Project and thank you for the opportunity to comment on this project. The Town of Vail would like to formally support this proposed action with consideration for the comments below. The Town of Vail is keenly aware of the elevated risk of wildfire and declining wildlife populations. We feel that this project will help to decrease wildfire risk to neighboring communities and infrastructure while simultaneously improving wildlife habitat in critical winter range. Please consider the following comments in making your decision. Comment 1: Specifically call out "reduction of wildfire hazard" as a purpose of the proposed action as listed on Page 3. Specific fuel loading and target fire behavior should be included in prescription design at project implementation. Additionally the project should be designed to incorporate the protection of community and infrastructure from wildfire. Comment 2: The proposed project will decommission a number of existing non -system roads (page 3) this may be counter productive to future wildfire suppression actions. We would recommend evaluating opportunities where these roads can be left in place and placed under "administrative use only" status, instead of being decommissioned. Comment 3: We support the use of a variety of ground based mechanical logging actions to create more age and species diverse forest landscapes. Of particular importance is the support of pre -commercial thinning in previously harvested stands. This action will greatly improve vigor and decrease insect and disease issues in young forest stands. Comment 4: Broadcast burning is specifically listed under coppice treatment (page 4) as a way to regenerate aspen stands, reduce conifer regeneration, and improve wildlife habitat. We would request that the positive benefits of broadcast burning on reducing wildfire fuels also be considered. Additionally, we request that consideration be given to expanding the broadcast burn units eastward December 4, 2018 - Page 42 of into the Dowd Junction and Buffehr Creek areas as a means to improve wildlife habitat and decrease wildfire fuels adjacent to our community. Comment 5: Slash management is a necessary component of mechanical harvest. On page 5, broadcast burning should be added to the listed slash management methods. Broadcast burning can be a cost effective and beneficial method of slash removal in lop and scatter harvest operations, significantly decreasing wildfire risk. Comment 6: Our forest environment does not currently contain enough openings. Openings provide a variety of wildlife benefits as well as provide strategic options for wildfire suppression. Many of the mechanical harvest actions have minimum stocking requirements post-harvest. We request that consideration be given to non -stocking as an acceptable post-harvest result and included in the project design. Comment 7: Under transportation on page 8, 27.74 miles of existing road will be decommissioned as part of the project. To assist in future wildfire suppression actions we recommend that these roads be closed to the public but left in a condition that allows access to firefighting equipment and personnel. The Town of Vail would like to thank you for the time you have taken to fully analyze this project. If you have any questions regarding these comments please direct them to: Paul Cada Vail Fire and Emergency Services Wildfire Program Administrator 970.477.3475 pcada@vailgov.com Sincerely, Greg Clifton Town Manager Town of Vail December 4, 2018 - Page 43 of Notice of Proposed Action Muddy Pass/Sheephorn Project Eagle/Holy Cross Ranger District, White River National Forest Eagle County, Colorado Portions of sections 31, 32, 33; Township 2S, Range 81W Portions of sections 14-16, 21-29, 33-36; Township 2S, Range 82W Portions of sections 3-11, 15; Township 3S, Range 81W Portions of sections 2, 3, 27-29, 32-35; Township 3S, Range 82W Portions of sections 5, 7, 8, 17, 19, 28-34; Township 4S, Range 81W Portions of sections 2-5, 7, 9-28; Township 4S, Range 82W Portions of sections 3-6; Township 5S, Range 81W 6th Principal Meridian, Eagle County, Colorado Comments Welcome The Eagle/Holy Cross Ranger District of the White River National Forest welcomes your comments on its proposal to implement a variety of management activities in the vicinity of Muddy Pass and Sheephorn, in Eagle County, Colorado (Map 1). Your comments will help us further develop the proposed action, potential alternatives, and complete an environmental assessment. The assessment will be used to determine whether to prepare an environmental impact statement or a finding of no significant impact. Instructions for submitting comments are described on the last page. Additional project information is available here: https://www.fs.usda.gov/project/?proj ect=53148 This Notice of Proposed Action (NOPA) is also requesting your comments under Section 106 of the National Historic Preservation Act, as amended (NHPA). Consultation under the NHPA seeks to consider the views about an undertaking and its effects on historic properties for the agency official to consider in decision making (36 CFR 800). Background The landscape containing the Muddy Pass/Sheephorn Project holds natural resources, wildlife habitat, scenic areas, and high quality recreation opportunities. During the summer of 2017, Forest Service resource specialists evaluated the landscape and developed potential projects that could benefit their respective resource areas. Proposed activities that were developed include timber harvest, broadcast burning, wildlife habitat improvement, a fish barrier, transportation improvements, range improvements, and converting a non -system route into a Forest System Route. All proposed timber harvest units are located within the White River National Forest's Suitable Timber Base. Portions of the Berry Creek, Buffer Mountain, and Lower Piney Colorado Roadless Areas are within the project area. However, broadcast burning to improve winter range for elk and deer, with incidental tree cutting to prepare the sites for burning, are the only activities being proposed within these Colorado Roadless Areas. Page 1 of 15 December 4, 2018 - Page 44 of Muddy Pass — Sheephorn Project Notice of Proposed Action Map 1 — Muddy Pass/Sheephorn Project Vicinity Map Muddy PasslSheephorn Project Project Vicinity Map Eagle/HoIy Cross Ranger District White River National Forest Eagle County, Colorado e 1.?= 3.5 Mies LEGEND Propoeed Hanes! Um :2 1 Winter and Sprtg EY Hmlltt gSi PiopneeM Broadcast Bun Unll Cly oi-Tuan PTI.ae Cunershlp ■ Intenslate 70 Colorado State Hlgrwal' Cwnty Road Nallonal FpE6tSyslern Rra l Scale: 1:200,000 Bridge 1 1 .1 ...........7..................t __' 111X - t'* Muddy Pass Area ! ! tr. i i i &".edrYCT 4_3 _E—Lf yy FSS ■ i .iuuuuuu..uii Mintum Page 2 of 15 December 4, 2018 - Page 45 of Muddy Pass - Sheephorn Project Notice of Proposed Action Purpose and Need for Action The purpose of the proposed action is to: 1. Provide commercial forest products and/or biomass to local industries. 2. Increase tree age/size class diversity at the stand and landscape scales, thereby increasing forest resistance and resilience to disturbances, such as future bark beetle outbreaks, fires, and other climate -related mortality events. 3. Manage stand density in young (-25-30 year old) stands of lodgepole pine to remove dwarf mistletoe, reduce potential crown fire spread, accelerate tree growth rates and increase tree vigor. 4. Increase forage productivity for wildlife, such as elk and deer. The proposed action is needed because: 1. Local and regional businesses exist that depend on a supply of forest products. 2. Maintaining young forests across landscapes can lessen the severity and extent of potential insect epidemics, sudden aspen decline, and wildfire. 3. Regeneration in past harvest units is considered overstocked and tree growth rates are expected to stagnate without reductions to stand density. 4. Elk and deer populations are declining in the project area. Increasing forage productivity would increase the probability of wildlife survival during critical times of the year (winter and spring). Other benefits expected from the project include the maintenance and improvement of open forest system roads, the decommissioning of existing non -system roads, more effective management of livestock, isolating a population of green lineage cutthroat trout to prevent hybridization, and adopting a short segment of road to be responsive to the needs of local jeep outfitters and our recreating public. Proposed Action Vegetation Management To address the purpose and need, the Eagle/Holy Cross Ranger District proposes to conduct approximately 10,000 acres of vegetation management activities located in Eagle County, Colorado. Proposed silvicultural activities include Clearcut with Leave Tree, Patch Clearcuts, Coppice Cuts, Overstory Removal Cuts, Salvage Harvests, Group Selection Harvests, Individual Tree Harvests, Pre -commercial Thinning, and broadcast burning. Clearcut with Leave Tree In units with a "clearcut with leave tree" prescription, all merchantable live and dead lodgepole pine trees (>5" DBH) would be harvested. Mature lodgepole pine trees, typically over 100 -years old or roughly the same age as the overstory, that are less than 5" DBH would also be harvested. Leave trees include Engelmann spruce, subalpine fir, aspen, Douglas -fir, and seedlings (<5"DBH with >60% crown) of all species. In addition, merchantable live and dead lodgepole pine could be left on an individual tree basis to limit potential damage to other leave trees that could occur during harvesting. Leave trees of any species could be harvested to facilitate logging activities, such as clearing a landing area, or a skid trail. This Page 3 of 15 December 4, 2018 - Page 46 of Muddy Pass — Sheephorn Project Notice of Proposed Action activity would result in lodgepole pine and aspen regeneration, while maintaining spruce and fir as a component of species composition. Patch Clearcut Patch Clearcutting would create small (-10-20 acre) clearcuts within larger units. Cumulatively, patch clearcuts within a unit would not exceed 35% of a unit's size. Patch clearcut openings would be dispersed throughout a given unit. Incidental harvesting could occur in areas outside of patch openings to facilitate yarding, decking, or other harvesting operations. This activity would create a new age class comprised of young aspen and conifer. Coppice Coppice cutting would require the harvesting of all merchantable trees (>5"DBH) within a unit, or broadcast burning to stimulate suckering. Following harvest, non -merchantable conifer trees (typically those <5"DBH) not removed during harvesting would be felled by chainsaw crews, or broadcast burning would be conducted to remove conifer seedlings and stimulate aspen suckering. For mechanical units, this activity would create an entire new age class comprised of young aspen. For broadcast burn units, pockets and stringers of mature aspen would be killed through burning, which would cause new aspen sprouting. In areas that burn at a lower intensity, mature aspen would survive the fire, with shrub and grasses being reinvigorated. This activity would lead to a mosaic of conditions that maintains mature aspen in places and stimulates new growth where the prescribed fire burns hotter or for a longer duration. Overstory Removal Cut Overstory Removal Cuts would harvest and remove overstory trees, while taking measures to minimize damage to existing regeneration. Overstory removal cuts are planned in areas that had Establishment Cuts that led to the development of a fully stocked understory. The Overstory Removal Cut is considered the final entry in the cutting cycle. Following this entry, the stand would be fully stocked with young trees that were established following the previous harvest, which typically occurred about 25-35 years ago. Salvage Harvest Salvage Harvests would remove trees that are dead, infested with pine or spruce beetle, or have dead tops. Some live trees could be harvested to facilitate logging operations, such as providing adequate space for landings, temporary roads, and skid trails. Salvage Harvests are not intended to be regeneration cuts, but rather maintain the existing dominant forest structure. Salvage Harvests allow the utilization of dead trees for forest products, without markedly changing forest structure or composition. Overall forest density is reduced, with some subsequent regeneration expected. Group Selection Group Selection prescriptions are being proposed in mixed conifer units that are dominated by Engelmann spruce, subalpine fir, and lodgepole pine. This prescription would create small openings, approximately a quarter acre to an acre in size, to create an environment suitable for conifer regeneration. Placement of openings would be dispersed throughout the Page 4 of 15 December 4, 2018 - Page 47 of Muddy Pass - Sheephorn Project Notice of Proposed Action unit, with any given opening being more than two tree lengths from another opening on average. Openings would be placed adjacent to mature cone bearing spruce, to favor spruce regeneration over subalpine fir. Cumulatively, group openings would not exceed 25% - 35% of a unit's total size. This activity would lead to the development of multi -aged, multi- storied, conifer stands. Individual Tree Selection Individual Tree Selection is a silvicultural activity designed to create multi -aged, multi- storied, stand characteristics. Typically, this prescription is used in stands that are relatively open and harvesting operations are not expected to cause excessive damage to residual trees. Under this prescription, individual trees would be harvested throughout the unit, across all diameter size classes, with the objective of removing between 25% and 35% of the stand's basal area. This activity would create small openings that would provide suitable sites for the establishment of a new cohort of trees. Individual Tree Selection would also harvest and remove trees that are declining, infested with beetle or disease, or have poor form, while leaving those trees with the best phenotypes as seed trees. Pre -commercial Thinning Pre -commercial Thinning is an intermediate treatment used to reduce stand density to improve tree growth and vigor, reduce crown bulk density, remove trees infected with mistletoe or disease, and promote trees with the best phenotypes for retention. Typically, this prescription is applied in young stands that have relatively small diameter trees that are not yet merchantable (about 5"DBH or smaller). Within identified treatment areas, stands would be thinned to reduce stand stocking densities to a pre -determined number of trees per acre. Slash For all prescriptions, all felled merchantable timber would be removed from the forest, all non -merchantable material including tree tops, branches, and cull material would be lopped and scattered, machine piled and burned, or removed as biomass. Design features to leave minimum coarse woody debris for soils and wildlife will be met through site specific detailed prescriptions and contract provisions. Mechanical Felling Clearcut with Leave Tree, Patch Clearcut, Coppice Cut, Overstory Removal, Salvage, Group Selection, and Individual Tree Selection, would use conventional ground-based machinery to harvest trees and remove them from the stand. Conventional logging equipment typically includes harvesters, rubber tired and tracked skidders, stroke de -limbers, chip vans and log trucks. Trees could be processed (limbed and cut to length) in the forest or at a landing. However, the Forest Service would encourage the utilization of slash for biomass. Table 1 - Summar v of oronosed vegetation management activities. Unit Number Prescription Method *Acres **Purpose MA 101 Clearcut with Leave Tree Ground Based Mechanized 92 1, 2 5.13 102 Clearcut with Leave Tree Ground Based Mechanized 156 1, 2 5.13 103 Clearcut with Leave Tree Ground Based Mechanized 21 1, 2 5.13 104 Clearcut with Leave Tree Ground Based Mechanized 17 1, 2 5.4 105 Clearcut with Leave Tree Ground Based Mechanized 22 1, 2 5.4 Page 5 of 15 December 4, 2018 - Page 48 of Muddy Pass - Sheephorn Project Notice of Proposed Action Unit Number Prescription Method *Acres **Purpose MA 106 Clearcut with Leave Tree Ground Based Mechanized 11 1, 2 5.4 107 Clearcut with Leave Tree Ground Based Mechanized 121 1, 2 5.4 108 Clearcut with Leave Tree Ground Based Mechanized 17 1, 2 5.4 109 Clearcut with Leave Tree Ground Based Mechanized 17 1, 2 5.4 110 Clearcut with Leave Tree Ground Based Mechanized 33 1, 2 5.4 111 Clearcut with Leave Tree Ground Based Mechanized 49 1, 2 5.4 112 Clearcut with Leave Tree Ground Based Mechanized 27 1, 2 5.4 113 Clearcut with Leave Tree Ground Based Mechanized 23 1, 2 5.4 114 Clearcut with Leave Tree Ground Based Mechanized 7 1, 2 5.4 115 Clearcut with Leave Tree Ground Based Mechanized 16 1, 2 5.4 116 Clearcut with Leave Tree Ground Based Mechanized 179 1, 2 5.4 Total Acres Clearcut with Leave Tree 808 201 Patch Clearcut Ground Based Mechanized 136 1, 2 5.13 202 Patch Clearcut Ground Based Mechanized 88 1, 2_ 5.4 * Total Acres Patch Clearcut 224 301 Coppice Cut Ground Based Mechanized 13 1, 2 5.4 302 Coppice Cut Ground Based Mechanized 31 1, 2 5.4 303 Coppice Cut Ground Based Mechanized 53 1, 2 5.4 304 Coppice Cut Ground Based Mechanized 48 1, 2 1 5.4 5.43 Total Acres 401 Co s lice C Overstory Removal Ground Based Mechanized 145 55 402 Overstory Removal Ground Based Mechanized 10 1 5.43 403 Overstory Removal Ground Based Mechanized 7 1 5.43 Total Acres Overstory Removal t 501 Salvage Ground Based Mechanized 59 1 5.13, 5.43 502 Salvage Ground Based Mechanized 11 1 5.13 503 Salvage Ground Based Mechanized 8 1 5.13, 5.43 504 Salvage Ground Based Mechanized 38 1 5.13 Total Acres Salvage 116 601 Group Selection Ground Based Mechanized 271 1, 2 5.13 602 Group Selection Ground Based Mechanized 141 1, 2 5.13 603 Group Selection Ground Based Mechanized 8 1, 2 5.13 604 Group Selection Ground Based Mechanized 18 1, 2 5.13 605 Group Selection Ground Based Mechanized 4 1, 2 5.13 606 Group Selection Ground Based Mechanized 380 1, 2 5.43 607 Group Selection Ground Based Mechanized 81 1, 2 5.43 608 Group Selection Ground Based Mechanized 237 1, 2 5.43 609 Group Selection Ground Based Mechanized 84 1, 2 5.43 610 Group Selection Ground Based Mechanized 13 1, 2 5.43 611 Group Selection Ground Based Mechanized 20 1, 2 5.43 612 Group Selection Ground Based Mechanized 9 1, 2 5.43 613 Group Selection Ground Based Mechanized 17 1, 2 5.43 614 Group Selection Ground Based Mechanized 12 1, 2 5.43 615 Group Selection Ground Based Mechanized 11 1, 2 5.43 616 Group Selection Ground Based Mechanized 72 1, 2 5.43 617 Group Selection Ground Based Mechanized 29 1, 2 5.43 618 Group Selection Ground Based Mechanized 207 1, 2 5.43 619 Group Selection Ground Based Mechanized 155 1, 2 5.43 620 Group Selection Ground Based Mechanized 259 1, 2 5.43 621 Group Selection Ground Based Mechanized 33 1, 2 5.4 Page 6 of 15 December 4, 2018 - Page 49 of Muddy Pass — Sheephorn Project Notice of Proposed Action Unit Number Prescription Method *Acres **Purpose MA 622 Group Selection Ground Based Mechanized 30 1, 2 5.4 623 Group Selection Ground Based Mechanized 49 1, 2 5.4 624 Group Selection Ground Based Mechanized 83 1, 2 5.4 625 Group Selection Ground Based Mechanized 113 1, 2 5.4 626 Group Selection Ground Based Mechanized 74 1, 2 5.4 627 Group Selection Ground Based Mechanized 15 1, 2 5.4 628 Group Selection Ground Based Mechanized 348 1, 2 5.4 629 Group Selection Ground Based Mechanized 30 1, 2 5.4 630 Group Selection Ground Based Mechanized 47 1, 2 5.4 631 Group Selection Ground Based Mechanized 33 1, 2 5.4 632 Group Selection Ground Based Mechanized 324 1, 2 5.4 633 Group Selection Ground Based Mechanized 12 1, 2 5.13, 5.4 634 Group Selection Ground Based Mechanized 7 1, 2 5.13 635 Group Selection Ground Based Mechanized 98 1, 2 5.13 636 Group Selection Ground Based Mechanized 90 1, 2 5.13 Total Acres Group Selection 3,414 701 Individual Tree Selection Ground Based Mechanized 13 1, 2 5.43 702 Individual Tree Selection Ground Based Mechanized 26 1, 2 5.43 Total Acres Individual Tree Selection 39 801 Pre -commercial Thin Hand Felling 10 3 5.4 802 Pre -commercial Thin Hand Felling 8 3 5.4 803 Pre -commercial Thin Hand Felling 29 3 5.4 804 Pre -commercial Thin Hand Felling 16 3 5.4 805 Pre -commercial Thin Hand Felling 10 3 5.4 806 Pre -commercial Thin Hand Felling 12 3 5.4 807 Pre -commercial Thin Hand Felling 6 3 5.4 808 Pre -commercial Thin Hand Felling 5 3 5.4 809 Pre -commercial Thin Hand Felling 3 3 5.4 810 Pre -commercial Thin Hand Felling 5 3 5.4 811 Pre -commercial Thin Hand Felling 20 3 5.4 812 Pre -commercial Thin Hand Felling 203 3 5.13, 5.4 Total Acres Pre -commercial Thin 327 901 Coppice Broadcast Burn 1,046 2, 4 5.41, 5.4 902 Coppice Broadcast Burn 748 2, 4 5.41, 5.4 903 Coppice Broadcast Burn 762 2, 4 5.4 904 Coppice Broadcast Burn 309 2, 4 5.41 905 Coppice Broadcast Burn 459 2, 4 5.41, 5.4 906 Coppice Broadcast Burn 163 2, 4 5.4 907 Coppice Broadcast Burn 137 2, 4 5.4 908 Coppice Broadcast Burn 164 2, 4 5.41, 5.4 909 Coppice Broadcast Burn 382 2, 4 5.41, 5.4 910 Coppice Broadcast Burn 407 2, 4 5.41, 5.4, 8.32 Total Acres Coppice through Broadcast Burning 4,577 Total Acres Implementation 9,722 * Acres are approximate (+/- 10%) **Purpose references which Project Purpose the Activity is designed to accomplish (page 1). Page 7 of 15 December 4, 2018 - Page 50 of Muddy Pass - Sheephorn Project Notice of Proposed Action Transportation The Muddy Pass/Sheephorn analysis area contains approximately 37.30 miles of system roads that would be utilized for hauling activities (Table 2). In addition, there are approximately 27.74 miles of roads within the project analysis area that are identified in the 2012 Travel Management Plan Record of Decision to be closed to the public and or decommissioned. Of these roads, 24.87 miles are proposed for utilization as temporary haul roads, which would be decommissioned following use. The remaining 2.87 miles of road that are not proposed to be utilized as temporary haul roads could be closed while equipment is mobilized in the area. Table 2 - Proposed Forest System Haul Routes. Route Number Route Name Length (Miles) Operational ML 401.1 Sheephorn 11.83 2 - High Clearance Vehicles 441.1 Three Licks Creek 0.20 1 - Basic Custodial Care (Closed) 442.1 Walters Lake 0.27 2 - High Clearance Vehicles 444.1 Cottonwood Basin 2.35 2 - High Clearance Vehicles 700.1 Red Sandstone- Muddy Pass 18.12 3 - Suitable for Passenger Cars 734.1 Red & White Mountain 0.95 2 - High Clearance Vehicles 744.1 Piney 3.58 2 - High Clearance Vehicles Table 3 - Non System Haul Routes to be Decommissioned Followine Hauling. Route Number Route Name Length (Miles) TMP Closure Distance Operational ML 401.1C Slate Creek 0.70 2.19 1 - Basic Custodial Care (Closed) 401.1D Slate Creek 1.82 1.82 1 - Basic Custodial Care (Closed) 401.1E Hat Trick 0.96 1.30 1 - Basic Custodial Care (Closed) 401.1F Hat Trick 0.80 0.80 1 - Basic Custodial Care (Closed) 406.1 0.88 1.00 2 - High Clearance Vehicles 429.1 Three Licks 1.61 1.61 2 - High Clearance Vehicles 434.1 Rock Creek Park 1.41 1.41 1 - Basic Custodial Care (Closed) 434.1A Rock Park Spur 2.36 2.36 1 - Basic Custodial Care (Closed) 434W.1C Rock Creek Park 0.87 0.87 1 - Basic Custodial Care (Closed) 434W.1D Rock Creek Park 0.43 0.43 1 - Basic Custodial Care (Closed) 441.1 Three Licks Creek 2.07 2.07 2 - High Clearance Vehicles 451.1 Slough Grass Lake 1.14 1.14 1 - Basic Custodial Care (Closed) 451.1A Slough Grass Spur 0.52 0.67 1 - Basic Custodial Care (Closed) 452.1 Slough Grass 0.53 0.53 1 - Basic Custodial Care (Closed) 452.1A Lone Lick Creek 0.43 0.53 1 - Basic Custodial Care (Closed) 700.2D Pine Creek Spur 1 0.61 0.61 1 - Basic Custodial Care (Closed) 700W.2B Red Sandstone/ Muddy Creek 1.28 1.28 2 - High Clearance Vehicles 744.1A Piney Spur 0.29 0.31 2 - High Clearance Vehicles 753W.1 Chimney Rock 3.63 3.75 1 - Basic Custodial Care (Closed) 988W.1 Lone Licks Way 0.78 1.08 1 - Basic Custodial Care (Closed) 990W.1A George Lake Temp 0.95 1.18 1 - Basic Custodial Care (Closed) 990W.1C Cottonwood Temp 0.50 0.50 1 - Basic Custodial Care (Closed) 990W.1D George Lake Way 0.30 0.30 1 - Basic Custodial Care (Closed) Total Decommission Miles: 24.87 - 27.74 Specified road reconstruction work is proposed in order to facilitate the conventional hauling of forest products. Proposed road reconstruction includes the creation and use of borrow Page 8 of 15 December 4, 2018 - Page 51 of Muddy Pass — Sheephorn Project Notice of Proposed Action sources, roadway and ditch reconditioning, road re -alignment, curve reconstruction, and culvert installation/reinstallation. Table 4 provides a summary of proposed specified road reconstruction. Borrow Sources — Borrow sources would allow the excavation of road base and/or subbase material along the side of an existing road, which would be used to support maintenance and road reconstruction work on the existing road where needed. Borrow sources are located in areas where material can be easily accessed, could support user safety such as to widen curves, would cause minimal erosional impacts, and/or could create improved function of the travel system such as with creating turnouts. For the purposes of this planning area, sources are needed to support maintenance and road reconstruction work for timber hauling as well as future needs on the road. The maximum quantity of material excavated at each borrow source location is not to exceed 250 cubic yards (CY). All borrow sources shall be restored upon exhaustion of the source. Roadway and Ditch Reconditioning — Roadway and ditch reconditioning consists of removing slide material, sediment vegetation, and other debris from existing ditches and culvert inlets and outlets, shoulders, roadways, turnouts, parking areas and other areas. In addition, this work includes scarification, large rock removal, subgrade irregularity removal, and reshaping the existing roadbed and shoulders to provide a uniform, well -draining surface. The final step of this work is watering and compaction with at least a 16 ton smooth drum or sheep's foot roller. Curve Reconstruction — Curve reconstruction consists of establishing clearing limits, clearing and grubbing the area needed to effectively reconstruct the existing roadway alignment, excavation and backfill, reshaping the existing road prism in order to achieve the construction of a 50' (foot) minimum radius curve. Culvert Installation/ Reinstallation — This work consists of installing a new culvert or removing and reinstalling an existing culvert. Site dewatering, stream channel diversions, fish/ aquatic species removal, and erosion control may be necessary to accommodate this work. Excavation, backfill and compaction are necessary to complete this work. Table 4 - Summary of the proposed specified road reconstruction activities. Road Number Road Name Reconstruction Activity Location (Mile Post) 401.1 Sheephorn Borrow Source (NTE 250 CY) 13.43 734.1 Red & White Mountain Begin Roadway and Ditch Reconditioning 13.10 734.1 Red & White Mountain Borrow Source (NTE 250 CY) 13.53 734.1 Red & White Mountain Borrow Source (NTE 250 CY) 14.00 734.1 Red & White Mountain End Roadway and Ditch Reconditioning 14.05 444.1 Cottonwood Basin Begin Roadway and Ditch Reconditioning 0.00 444.1 Cottonwood Basin Install 18" x 30' Culvert 0.12 444.1 Cottonwood Basin Borrow Source (NTE 250 CY) 0.66 444.1 Cottonwood Basin Borrow Source (NTE 250 CY) 1.52 444.1 Cottonwood Basin Borrow Source (NTE 250 CY) 1.94 444.1 Cottonwood Basin Borrow Source (NTE 250 CY) 2.25 444.1 Cottonwood Basin Road Realignment to Avoid Spring 2.80 444.1 Cottonwood Basin End Roadway and Ditch Reconditioning 2.34 Page 9 of 15 December 4, 2018 - Page 52 of Muddy Pass — Sheephorn Project Notice of Proposed Action Road Number Road Name Reconstruction Activity Location (Mile Post) 744.1 Piney Begin Roadway and Ditch Reconditioning 0.00 744.1 Piney Reconstruct curve to 50' minimum radius 2.54 744.1 Piney Excavate and reinstall existing 24" Culvert 2.98 744.1 Piney Reconstruct curve to 50' minimum radius 3.53 744.1 Piney End Roadway and Ditch Reconditioning 3.58 700.1 Red Sandstone -Muddy Pass Borrow Source (NTE 250 CY) 23.52 Temporary Roads It is estimated that at least thirty six temporary roads would be needed to access cutting units. During harvesting operations additional temporary roads could be used if deemed necessary to facilitate logging activities. The location of all temporary roads would be approved by a Forest Service Timber Sale Administrator, Contracting Officers Representative, or Forest Service Representative and would be located in areas that cause the least amount of resource damage while still providing for harvesting feasibility. Following hauling activities, these temporary roads would be obliterated. Wildlife Habitat Improvement The landscape between Interstate 70 and the Red and White Road (Map 8 of 9), and the Lower Piney River Valley (Map 9 of 9), contain deer and elk winter range, severe winter range, and winter concentration areas. Much of this habitat is dominated by aspen, which provides high quality forage for elk and deer. The Proposed Action includes regenerating approximately 25% to 30% (4,577 acres) of the aspen within this landscape to increase forage productivity by stimulating aspen suckering and forb and grass production. Aspen regeneration would be accomplished through broadcast burning. Incidental cutting of trees using hand -crews may occur when preparing the fire line. Sagebrush at the lower portion of the burn areas, and conifer (lodgepole pine, Engelmann spruce, subalpine fir, Douglas -fir) at the upper portion of burn units, would likely experience some incidental burning during implementation. This activity would also be expected to reduce fuels within the Wildland/Urban Interface (WUI). Fisheries Habitat Improvement The Proposed Action includes the creation of a fish barrier on Three Licks Creek, where NFSR 401 crosses Three Licks Creek (Map 3 of 7). This barrier would likely be created by replacing the existing culvert with a longer culvert that would have an exit drop of sufficient height to prevent fish from traveling upstream. Other methods could be employed if they are determined to be more cost effective. This action is needed to isolate a local population of genetically pure green lineage cutthroat trout. Range Improvements The Proposed Action includes the relocation of one range allotment boundary fence between the Sheephorn C&H and Lone Lick/East Sheephorn C&H cattle grazing allotments. This Page 10 of 15 December 4, 2018 - Page 53 of Muddy Pass — Sheephorn Project Notice of Proposed Action relocation is located within the Gutzler Fire's burn perimeter and needed to prevent excessive fence damage and maintenance from falling snags. The Proposed Action also includes the installation of three new sections of fence to create a southern boundary between the South Piney C&H and Red and White S&G grazing allotments. These three new sections of fence are needed to prevent cattle from traveling from the South Piney C&H cattle allotment south onto the Red and White S&G sheep allotment. Recreation The White River National Forest Travel Management Plan (2011) designated a system of roads and trails forest -wide that addressed all modes of travel. The Muddy Pass/Sheephorn Project's Proposed Action includes an amendment to the Travel Management Plan to designate 993.W1 as level II road open to all motorized wheeled use following the Motor Vehicle Use Map season of dates for the surrounding area (Map 6 of 9). Prior to the 2011 TMP, this route was used administratively but not available for public use. Motorized use of 993.W1 is authorized under an existing range permit for the placement of herder camps and weekly motorized vehicle supply trips. Together, range and recreation staff have tried to prohibit public motorized use of this permitted route, however enforcement has proven ineffective and unmanageable due to its popularity. Designating 993.W1 for all motorized use, which includes non -motorized access, provides a desired recreation opportunity that people seek. This route serves as a destination overlook with outstanding scenic views. Physical barriers may be placed around the scenic overlook and along 993.W1 to prevent motorized recreation beyond the overlook. Winter management of the area would remain the same as shown on the winter Over the Snow Map. Management Direction The proposed action aligns with goals, objectives, and strategies from the 2002 White River National Forest Land and Resource Management Plan (Forest Plan) specifically; Goal 1 Ecosystem Health — "Promote ecosystem health and conservation using a collaborative approach to sustain the nation's forests, grasslands, and watersheds". Objective 1 a — "Improve and protect watershed conditions to provide the water quality and quantity and soil productivity necessary to support ecological functions and intended beneficial uses. Strategy la. 6 — "Over the life of the plan, use collaboration with State and local governments and other interested parties, available tools, authorities, and strategies that appropriately consider state law and the interests of holders of existing water rights to achieve desired conditions for aquatic and stream -based resources. Prioritize needs based on resource values, risks, and opportunities. Objective ld — "Increase the amount of forest and rangelands restored to or maintained in a healthy condition with reduced risk and damage from fires, insects, disease, and invasive species". Strategy 1 d. 7 — "Implement management practices, including prescribed fire, that will move landscapes towards desired vegetation composition and structure as described in the management area description and the Historic Range of Variability". Page 11 of 15 December 4, 2018 - Page 54 of Muddy Pass — Sheephorn Project Notice of Proposed Action Strategy 1d.9 — "Over the life of the plan, management practices that mimic ecological processes, such as fire, insect and disease, and other disturbances, will operate on forest and grassland landscapes in a manner consistent with desired conditions and management area direction". Strategy 1d10 — "Over the life of the plan continue to work cooperatively with grazing permittees and other interested individuals to design and implement grazing systems that maintain or enhance ecosystem function". Goal 2 Multiple Benefits to People — "Provide a variety of uses, products, and services for present and future generations by managing within the capability of sustainable ecosystems". Objective 2a — "Improve the capability of the national forests and grasslands to provide diverse, high quality outdoor recreation opportunities". Objective 2c — "Improve the capability of national forests and rangelands to sustain desired uses, values, products, and services". Strategy 2c.1— "By the end of the plan period, offer for sale the allowable timber sale quantity". Goal 4 Effective Public Service — "Ensure the acquisition and use of an appropriate corporate infrastructure to enable the efficient delivery of a variety of uses". Objective 4a — "Improve the safety and economy of Forest Service roads, trails, facilities, and operations and provide greater security for the public and employees. Strategy 4a.2 — "Decommission an average of 22 miles of Forest Development Transportation System roads each year". Goal 5 Public Collaboration — "Engage the American public, interested organizations, private landowners, state and local governments, federal agencies, and others in the stewardship of National Forest System lands". Objective 5a — "Work cooperatively with individuals and organizations, local, state, tribal, and federal governments to promote ecological, economic, and social health and sustainability across landscapes". Strategy 5a.2 — "Provide opportunities for local governmental jurisdictions and other interested parties to participate in planning and management of National Forest System lands, especially where local governmental jurisdictions or other landowners are contiguous to or may be affected by the management of these lands". The project area is located within the following Forest Plan -designated management areas: 5.13 Resource Production Forest Products — These lands are managed to provide commercial wood products. In addition, they provide for forage production, other commercial products, scenic quality, diversity of wildlife, and a variety of other goods and services. Numerous open roads provide commercial access and roaded recreational opportunities, while closed roads provide non -motorized opportunities. Applicable Desired Condition — "The desired condition of this management area prescription is to maintain suitable forested areas with commercially valuable species at ages, densities, and sizes that allow growth rates and stand health conducive to providing a sustained yield of forest products. To achieve this objective, a full array Page 12 of 15 December 4, 2018 - Page 55 of Muddy Pass — Sheephorn Project Notice of Proposed Action of silvicultural systems will be used that will produce a range of successional stages from seedlings to late -successional stands". 5.4 Forested Flora and Fauna Habitats — These areas are primarily forested ecosystems intermingled with grassland and shrub communities, and are managed to provide a mix of ecological and human needs. These needs include wildlife and aquatic habitats, livestock forage, and forest products. These areas also provide for recreational opportunities, scenic quality, and a variety of other miscellaneous goods and services. Applicable Desired Condition — "These areas provide for a variety of forest and non - forest plant communities and successional stages, over the long term, through a combination of human manipulation and natural processes. Management activities are influenced by biological processes found in the area, and strive to replicate local natural vegetation patterns and patch size (HRV). Vegetation management is designed to simulate natural disturbances, thus silvicultural treatments may be larger than 40 acres in size. Vegetation composition and structure exist in a range of successional stages to meet wildlife and aquatic habitat, livestock forage, and forest product objectives.... A full range of silvicultural prescriptions may be employed that includes timber harvest and prescribed fire management, in which both focus on long-term desired conditions". 5.43 Elk Habitat — These areas are managed for elk. Low road densities and optimum forage and cover ratios characterize this management area prescription. Applicable Desired Condition — "Vegetation is managed to provide healthy plant communities with a variety of species present for food and cover. Forested areas may appear managed without much evidence of damage by insects and disease. Natural and created openings or meadows of various sizes and shapes occur as well". Nature of Decision to be Made For this project, the responsible official is the Eagle/Holy Cross District Ranger. Given the purpose and need, the responsible official will review the environmental analysis of the proposed action, other alternatives, and any public comments in order to make the following decisions: 1. Whether the proposed action will proceed as proposed, as modified by an alternative, or not at all. 2. If it proceeds: a.) Whether to prepare an Environmental Assessment or an Environmental Impact Statement b.) What design features/mitigation measures and monitoring requirements should be applied to the proposed action c.) Whether the project requires any Forest Plan amendments Page 13 of 15 December 4, 2018 - Page 56 of Muddy Pass — Sheephorn Project Notice of Proposed Action Alternatives to the Proposed Action No Action The EA will document consideration of a no -action alternative through the effects analysis by contrasting the impacts of the proposed action and any alternative(s) with the current condition and expected future condition if the proposed action were not implemented (36 CFR 220.7(b)(2(ii). Under the No Action Alternative, vegetation management activities and road improvements associated with the proposed action would not occur. The area would continue to be used for summer and winter recreation, hunting, firewood gathering, grazing and routine maintenance of roads would continue. Effects and Issues to Consider The environmental assessment will address the effects of the proposed action and alternatives to key issues identified during internal and external scoping. The assessment will be issue - driven and contain detail commensurate to the degree to which a resource may be affected. Issues are cause and effect relationships that arise as a result of the proposed action. The Forest Service will use information gathered from this comment period to identify additional issues to be addressed. Issues raised in response to this notice of proposed action will be considered and addressed in the environmental analysis. Some issues may be addressed through modification of the proposed action, development of a new alternative, or mitigation measures. Comment Process The proposed project is an activity implementing a land management plan and subject to the objection process described in 36 CFR 218 Subparts A and B. The Forest Service is combining scoping with the legal notice and opportunity to comment, as described in §218.24. The public is encouraged to provide specific written comments on this proposal, including supporting reasons for the responsible official to consider. Specific written comments should be within the scope of and have a direct relationship to the proposed action. The proposed action includes openings greater than 40 acres. The mountain pine beetle epidemic caused extensive mortality in lodgepole pine stands in the project area from about the years 2002 to 2011. Therefore, openings greater than 40 acres in the lodgepole pine component (clearcut with leave tree) of this project are the result of natural catastrophic conditions and not subject to a 60 -day public review, or Regional Forester approval. Proposed Coppice Cuts in aspen stands, however, are not the result of natural catastrophic conditions. Instead, harvesting units larger than 40 acres are proposed to maximize sprouting to help ensure these units fully regenerate and withstand browse. Coppice units greater than 40 acres in size will require approval by the Regional Forester after a 60 -day public review. In accordance with this standard, specific written comments on the proposed project will be accepted for 60 calendar days following publication of the legal notice in the Vail Daily. The publication date in the newspaper of record is the exclusive means for calculating the comment period. The regulations prohibit extending the length of the comment period. Page 14 of 15 December 4, 2018 - Page 57 of Muddy Pass — Sheephorn Project Notice of Proposed Action Written comments must be submitted via mail, fax, electronically, or in person (Monday through Friday, 8:00 a.m. to 4:30 p.m., excluding holidays) to: Richard Truex Acting District Ranger c/o Brett Crary, PO Box 190, Minturn, CO 81645, FAX: (970) 827-9343. Electronic comments including attachments can be submitted here: https://cara.ecosystem- management. org/Public//CommentInput?Proj ect=5 3148. It is the responsibility of persons providing comments to submit them by the close of the comment period. Only those who submit timely and specific written comments will have eligibility to file an objection under §218.8. For objection eligibility, each individual or representative from each entity submitting timely and specific written comments must either sign the comment or verify identity upon request. Individuals and organizations wishing to be eligible to object must meet the information requirements in §218.25(a)(3). Names and contact information submitted with comments will become part of the public record and may be released under the Freedom of Information Act. If the agency determines there are no significant impacts, that finding along with the EA and a draft decision notice will be published for a 45 -day objection period. If no specific written comments are received during the designated opportunity for comment, the project will not be subject to objection. If the EA concludes there is potential for significant impacts, then an environmental impact statement will need to be prepared. This Notice of Proposed Action also is requesting your comments under Section 106 of the National Historic Preservation Act, as amended (NHPA). Consultation under the NHPA seeks to consider the views about an undertaking and its effects on historic properties for the agency official to consider in decision making (36 CFR 800). Additional information regarding this action can be obtained from: Brett Crary, (970) 328- 5899, bcrary(a,fs.fed.us In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, office, and employees, and institutions participating in or administering USDA programs are prohibited from discriminating based on race, color, national origin, religion, sex, gender identity (including gender expression), sexual orientation, disability, age, marital status, family/parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded by USDA (not all bases apply to all programs). Remedies and complaint filing deadlines vary by program or incident. Persons with disabilities who require alternative means of communication for program information (e.g., Braille large print, audiotape, American Sign Language, etc.) should contact the responsible Agency or USDA's TARGET Center at (202) 720-2600 (voice and TTY) or contact USDA through the Federal Relay Service at (800) 877-8339. To file a program discrimination complaint, complete the USDA Program Discrimination Complaint Form, AD -3027, found online and at any USDA office or write a letter addressed to USDA and provide in the letter all of the information requested in the form. To request a copy of the complaint form, call (866) 632- 9992. Submit your completed form or letter to USDA by: (1) mail: U.S. Department of Agriculture, Office of the Assistant Secretary for Civil Rights, 1400 Independence Avenue, SW, Washington, D.C. 20250- 9410; (2) fax: (202) 690-7442; or (3) email: program.intake@usda.gov USDA is an equal opportunity provider, employer, and lender. Page 15 of 15 December 4, 2018 - Page 58 of VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: FCC Cable Franchise Letter ATTACHMENTS: Description FCC Cable Franchise Letter TOWN Of UAIL December 4, 2018 - Page 59 of TOWN OF VAIL 75 South Frontage Road West Vail, Colorado 81657 vailgov.com 11/13/2018 The Honorable Ajit V. Pai Chairman Federal Communications Commission 455 12th Street, Southwest Washington, DC, 20544 Dear Chairman Pai, Town Council 970.479.2106 970.479.2157 fax The Town of Vail, Colorado, utilizes the services of our local community access media center, High Five Access Media, to assist us with our public outreach and cablecasts of our Town Council meetings, which occur twice a month, as well as our review board meetings, equating to four meetings per month. In light of our reliance upon the excellent services of High Five Media Access, which services are provided through the cable franchise fee revenues collected by the Town, we would like to express our disapproval of the proposals and tentative conclusions contained in the Federal Communications Commission's Sept. 25 Further Notice of Proposed Rule Making in Implementation of Section 621(a)(1) of the Cable Communications Policy Act of 1984 as Amended by the Cable Television Consumer Protection and Competition Act of 1992, MB Docket 05- 311. Our neighboring community, the Town of Avon, also receives franchise fees from Comcast in return for allowing its usage of our public rights of way to distribute their cables and earn a profit. And like the Town of Vail, Avon benefits from the community services as provided by High Five Media, utilizing the collected franchise fees to pay for such services. While High Five serves both towns, it provides monthly media education workshops to the entire county at no or little cost. This education, and free access to production equipment, gives our locals, students and nonprofits the means to create media that is shared with the community via cable television. Indeed, it's a way for folks to express their rights to free speech and create a dialogue among the community. Our residents, business owners, guests, and our active nonprofit community, all collectively rely upon this coverage to stay civically engaged with their elected leaders and town staff. The Town of Vail itself relies upon this coverage to assure its citizens that decisions are made in the open, transparently. Transparency and civic engagement are values embraced by our Town Council and our organization as a whole. This local presence enables the residents of our town to watch uniquely local programming about their community and local events and issues of interest to them. And that was the intent of the provisions of the 1984 Cable Act with respect to public, educational, and government access December 4, 2018 - Page 60 of television (PEG channels) -- to enhance local voices, serve local community needs and interests, and strengthen our local democracy. By defining "franchise fee" in an overly broad fashion to include "in-kind" support, the FCC's proposals will shift the fair balance between cable franchising authorities and cable operators and will force communities to choose between franchise fees and PEG channels -- something that was never the intent of the Act. Such a change would have far-reaching impact and put at risk the continued function of our local PEG channel and effective community outreach. Specifically, the in-kind support could significantly reduce the amount of franchise fee collected, which in turn would impact the Town's ability to fund the operation of the PEG channel. We appreciate your consideration and hope you will protect the values of having PEG channels in our community and elsewhere by choosing not to adopt many of the proposals in the Further Notice. Sincerely, Dave Chapin Mayor, Town of Vail CC: The Honorable Michael O'Rielly, Commissioner The Honorable Brendan Carr, Commissioner The Honorable Jessica Rosenworcel, Commissioner Town of Vail Page 2 December 4, 2018 - Page 61 of VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Town Manager Report ATTACHMENTS: Description Town Manager Report TOWN OF 1 X41 December 4, 2018 - Page 62 of TOWN OF VAIL ` 75 South Frontage Road West Vail, Colorado 81657 vailgov.com TOWN MANAGER REPORT - DEC 4th TOWN COUNCIL MEETING TOPICS IT Update Fire Department Promotions & Awards Other Organizational Updates Vehicle Emission Standards Meetings Update Library Update Holiday Decorations IT Update Town Manager's Office 970.479.2106 970.479.2157 fax As previously noted, Steve Blair is Interim Department Head of the IT Department while we endeavor to fill the vacant directorship position. Currently, we are updating the job description for that particular position, and posting will quickly follow. The revised job description will include much of the existing duties and requirements related to technology information, but will include expanded language related to human resource management, strategic planning, emerging technologies, and contract administration. We are quite optimistic that we will land the right candidate ... stay tuned. As also previously noted, interviews are in progress with respect to filling the position, Technology and Customer Support Specialist (Systems Engineer I) as vacated by Mike Griffin. Final interviews are slated for Friday, Nov. 30`h. There have been worthy candidates at the table. The entirety of the IT staff is engaged in this recruitment process, along with Patty McKenny who is now overseeing the IT Department administratively. Finally, a position that was previously split between the IT Department and Police Department, serving as point of contact for requests related to police evidence records and laserfiche administration, has also been revised to now report solely to the IT Department, while performing evidence handling under direction from the Detective Sergeant. This will be an improvement with regard to overall organizational structure and accountability. The position, Systems and Evidence Technician (Systems Engineer I), is currently vacant and will be filled upon successful recruitment of the right candidate. The recruitment process of the Technology and Customer Support Specialist, as noted above, may yield good candidates for this position as well. Stay tuned. From the above, it can be readily determined that the IT Department is quite understaffed and is operating with minimum resources. The staff has been doing a stellar job of sharing the additional workload and handling the many important tasks and projects, on top of the day-to-day duties and recruitment efforts. We are grateful for their dedication and extra effort during these lean times. We have also seen some incremental success in buttoning up contracts and other loose ends. December 4, 2018 - Page 63 of Fire Department Promotions & Awards The 2"d Annual Vail Fire Awards and Promotion Ceremony will be held Saturday, December 1St at the Grand View. I will be attending to observe. Last year's ceremony was very well attended and quite moving in terms of hearing the many life -stories that underlie these advancements and recognitions. Please note the following: Promotions: • Peter Hodgson from Firefighter to Engineer • Josh Eaton from Engineer to Lieutenant Awards: • Safety Award -- Wildfire Mitigation Coordinator Paul Cada • Hazardous Materials Technicians (commendation bar awarded to new Haz Mat Technicians) -- FF Rio Burgess, Engineer Peter Hodgson, FF Oran Tool. Please note that this is an important milestone as we identified in 2015 a deficiency in Haz Mat Technicians, and since that time we have increased the number of State Certified Haz Mat Techs from 4 to 11. • Rescue Technician (commendation bar awarded to those who are rope, swiftwater, ice and confined space rescue technicians) -- Lt. Jim Rabidue, FF David McWhorter, FF Airek Streetz, Engineer Zach Herwehe, and Engineer Peter Hodgson. • Fire Chief's Commendation -- Lieutenant Ryan Ocepek. • Field Delivery Recognition (assisted with field delivery of a baby) -- FF Rio Burgess, Engineer Michael LeBlanc, and Lt. Scott Bridges • Distinguished Unit Citation (for actions taken to protect the communities of El Jebel and Missouri Heights on the Lake Christine fire) -- Lt. Jim Rabidue, Engineer Peter Hodgson, FF Michael LeBlanc, Wildland Coordinator Paul Cada, Wildland Firefighter Kelly Klein. Other Organizational Updates In addition to the multiple positions within the IT Department as addressed above, a few more updates here. With the recent hiring of Tammy Nagel to fill the Town Clerk position, we are now endeavoring to fill the vacant Deputy position. The position has been posted internally and we anticipate good interest. Stay tuned on that one. Community Development Department is fully staffed for the first time in a long while. We are grateful. With our recent new -hires, we are off to a good start, and just in time with the Civic Area Plan and numerous big projects on the horizon. A similar note is made with respect to the Police Department. There are no less than five recruits that are making their way through the Academy, who will soon start working as sworn officers for the department. Coupled with some recent new -hires, the department will soon be at full staff and this is long overdue. Town Manager's Report Page 2 December 4, 2018 - Page 64 of Town Manager's Report I have been quite busy with evaluations over the past several months, providing in-depth discussions and establishing future goals with all of our twelve department heads, as well as two staff members of the Community Development Department who were due evaluations during the recent transitional period (these evaluations have occurred, or are occurring, with the assistance of George Ruther, Matt Gennett, and myself). I am nearing the end of the list (the newly hired department heads are still awaiting their meetings) and am happy to report that the processes have been very good and quite meaningful. The typical evaluation consists of several pages, with detailed recaps and narratives to substantiate the rankings. It is a bit more of a comprehensive evaluative process than what has historically occurred, and one that seems to be appreciated by the employees. We will be having a staff retreat with our leadership team in the weeks ahead, preceding the next Council retreat. I will forward an agenda to you once it has been formulated. Vehicle Emission Standards Last spring (March 30th), individual members of the Vail Town Council joined forces with many other Colorado officials, and notably the unified voice of the Colorado Communities for Climate Action (CC4CA), in authoring a letter to the Colorado Governor advocating for lower emission vehicle standards. Actually, the lower standards as proposed would basically preserve current standards at the federal level, countering attempts in Washington to rollback (lower) the standards in 2022. I will not restate the letter but will provide the following excerpt of the first two paragraphs which highlight its contents: Dear Governor Hickeiilooper- On behalf of the Colorado communities that we are privileged to represent. thank you for your leadership in working to reduce Colorado's greenhouse gas (GHG) emissions. We ask that you protect that legacy. now threatened bythe impending rollback of the EPA -s federal auto emission standards, by adopting Advanced Clean Car Standards. On October S. 2017. our Department of Public Health and Env-iaonnlent submitted coananews on the federal government's proposed "Reconsideration of the Final Determination of the Mid - Term Evaluation of Greenhouse Gas Emission Standards for Model Year 2022-2025." The proposal would essentially tmdo the fitel economy increases through 2025 that EPA adopted in 2011 By 2030 these standards are estimated to annually save consumers over $50 billion reduce oil consumption by 23 billion gallons. and reduce national greenhouse gas emissions by 270 million tons. They haw already spurred innovation m the auto mdttstru, leading to all kinds of improvements — advanced aerod+namic design lighter weight materials. better engine design_ and new electric thick designs — all of which are helping consumers save fuel casts. In other wards. these standards have been working well in Colorado and across the counnri. On November 16th of this year, the Colorado Air Quality Control Commission voted 8-0 to adopt the lower standards, establishing Colorado as the 14th state (and the District of Columbia) to apply the lower standards. Insofar as the Town of Vail is an active member of CC4CA (and has been since the inception of this coalition three years ago), and insofar as the adoption of these lower emission standards has been energetically pursued by CC4CA, this represents a significant win for both our community and the coalition. Congratulations! Page 3 December 4, 2018 - Page 65 of Mention should also be made of some individual efforts that really helped in this process: • CC4CA President Anita Seitz (Westminster City Council) and incoming CC4CA President Jill Ryan (Eagle County Commission) both testified in August when the AQCC formally kicked off the process. • Jill Ryan and CC4CA Administrator Tom Easley both gave compelling formal testimony during the final two-day hearing. • Other CC4CA members testified, talked to reporters, and submitted guest editorials in recent months, including Aspen Mayor Steve Skadron, Crested Butte City Councilor Will Dujardin, the entire Eagle County Board of Commissioners, Golden Mayor Marjorie Sloan, Pitkin County Commissioners Patti Clapper and Greg Poschman, San Miguel County Commissioner Kris Holstrom, Summit County Commissioner Karn Stiegelmeier, and Westminster Mayor Pro Tem Maria De Cambra. The below two articles include a nice write up on this major accomplishment, as well as an informative article about the growing membership in CC4CA. http://littletonindependent.net/stories/colorado-finalizes-tough-future-emission- standards,273584 http://www.dailycamera.com/boulder-county-news/ci 32289384/longmont-might- j oin-climate-action-coalition Meetings & Events Update Colorado Municipal League I will be attending the CML Executive Board meeting on December 14th The meeting is of particular significance, as will be the next one in early January, as we will be going through the recruitment process for the new Executive Director. The intent is to have a new director named before, or very shortly after, the commencement of the new legislative session. 1-70 Coalition Board The next meeting is December 5th, 10 am, via telephone conference. I will be attending. The agenda has not yet been established. CAST The January meeting is in Teton Village, January 16th and 17th. While I will not be attending, Mayor Chapin is attending (I believe) and Kristen Bertuglia will be presenting on the topic of Sustainable Destinations. Others may be joining. The DRAFT agenda is set forth below. Town Manager's Report Page 4 December 4, 2018 - Page 66 of Town Manager's Report Ali...Uri. Or SKI TOWNS DRAFT AG ENDA January 16-15, 2019 Teton Village, Wyoming Wednesday January15 5:30-7:30 pm "Meet Me at the Wort"Reception — heavy appetizers and rash bar The Wort Hotel, 50 Glen wood3t, Jackson Hosted by the Town ofJackson & Teton County Thursday, January 17 Olympic Room, 3395 Cody Lane, Teton Vi I lege 7:45 a.m. Breakfast— hosted by Teton Village Association 8:10 -Noon Morning Meeting Emergency Management Rich Ochs, Teton County Emergency Management & Tim Mason, Ge neral Manager, Jackson Hole Mountain Resort Wyoming ingenuity and the sprri tofthe West came together to address a six day po uer outage in Teton Village folio wing a major win ter storm that toppled 17 steer erectnml piles in February 20I7. Thor August, Jackson Note was in the path of to wl'ry of the Great American Eclipse. Air Travel Program Kari Cooper, Executive Director, JH Air Improvement Resources JN AIR is long running and successful program that promo rescollaborativecomm unify efrort to g uaran tee the a vailab:1 j ofairn'ne seats coming in toJadrson Nole. Transportation Panel TOM in Teton Village: Melissa Turley, Teton Vi I lags Association & Jeff Ream, Apex [te native Aspen Mobility Lab: Steve Skadron, Mayor of Aspen TBD (Pathways and/or Micro Mobility p rue me r) Noon-1l3O Lunch -hosted by CAST 1K10-2:15 Global Sustainable Tourism Council —Sustainable Destination Program Tea pg, Jackson Hole 5 YelkFvstone Sustain ability Destination Program Kristen Be rtuglia, Envi ran me oral Sustai nab i lity Manager, Town of Vail 230-5 COpm Tour Stilson Park & Ride The 5fiison in tercep [parking fa [began operation in 20Lt3, as a planned TISMstra tegy to reduce winter traffic to and from Teton Vl'age. Today, an a uerage of275 c..aaparka tSti!son daily in winter, where drivers board free START Buses and shuttles to Teton tillage. START Transit Facility. Southern Teton Area Rapid Transit (START] is o public bus service provided by Town oflacksan and Teton County. Opened in 2CQ4, the START Transit Foul. fy Phase I was funded by $114M federal funding (including a TIGER Grant), $IMsta to funaPng nnd$S391,4focal fundng. Teton Corr my Search and Resale Patti lit/ Teton County Search and Rescue (TCSARJ boasts one of the mostefi to rescue teams in the world Their team of36 volunteers is highly skilled and [rained to perform technical rescues, inducting short-hauf transport ofone or more p arsons suspended beneath o helicopter, in the most extreme circumstances and terrain. 630-9:00 p.m. Reception & Dinner ag, Mangy Moose Saloon & Steakhouse, 3295 Vi I Iage DL Teton Village Friday, January 18 Olympic Room, 3391 Cody Lane, Teton V i I lags (Breakfast on your own 8:00 a.m. Morning Re marks from Jackson Hole Mountain Resort Coffee and light p astrie s provided 9:00 a.m. Ski Day - Jackson Hole Mountain Resort Page 5 December 4, 2018 - Page 67 of Town Manager's Report Vail Library Update The Vail Daily publishes the Give Magazine, and the current edition includes a nice write-up from the Vail Public Library. Enjoy. TAIL PUBLIC LIBRARY 892 W MEADOW DR. VAIL - (970) VAILLI BRhRY.COM/SU PPORT-YOUR-LIB C nmmunityrrn c es first at Ved I whist. Lihrury. This beautiful facility is o free public libiary that al -115'5 uctti s IV ull Lucuty and visitors u.ii)o corn: to enjoy it. "Far us riwnmuinity K rintJIISt people who - Iwe in Veil explains I ori A F3arne: limn Librarian. IL`s 1.1ic yucsls• Lhc scasorwlworkcrs, the pcoplc dawnyak),who ono slapping in, Lhc International people awning inski tura day Its whomeverwantstn :Ice our seances — that's our community.- Six Lure values are the plliars of this enriching nrganivahon- sennet cxcellerice. integrity, -engagement. wellness and environmental rnnsrAnilsness. T he Library -Offers a wide vanetyofcommunitycnmunity programming, far rhiEdren and adults. and has impdernented maty prim and digital resources to use, including a rich collection of books, estensfve databases. online archives. and a full Tech Studio. With two 3D punters, a green screen and a varietyof robotics. the Tech Studio is a place for creation, collaboration and innovation: it is place for you to get hands- 479-8184 • VAILLBEARY,COM RAR Y -FRIENDS/ - L1EINFO[)VNFLGOV.CW, nn experience. in a variety nt te€hnnlaglr_s. Evenings of Gkungen lent offers sessions fur childien Livid nKtudirr Fire icnIaliuns. book discussions and t7rulivr workshops. Ihe I ihrary's Healthy I ite. Ae Senes hosts tri tar the community, including meditation. yoga and dunes busses. Roti i i,icd as Actively Giron siaur ?lith, the Iihrary IS Always working. to improve as snstainahilityetinrls IhA tanldyts also a Gold I emu I ender in Lhc statewide CrivirvnmcrrLal Lr_sntership Prvgrum of Colorado. "We are the only library in the entire state that is Gat!! e el and this is c5ie to our sysluinubility efforts," says Barnes. Our environmental. consciousness value is so important to us.' Ile Vail Pi Ih1ir I.Lhrary relies nn the energyw, p,:wion, excitement and engagement of the community. The Friends of Vail Public library work La assist in improving library services. materials and facilities• as well as help in seeking financial donations. Vail Public Library also accepts hook and media donations throughout the year for our Book Sale Nook. MISSIO Tri maimrx world of deference throughroIItm ¢borun, servere am/ m rr-p5, r.) redeem and inspire. nor cnrr:rr:r,nuy of rs,i ,,. 000000 Fk nI hyt�restyte Sorbs TM OF MC loot. Imrry Holiday Decorations Nothing to report here, other than the fact that the holiday lights and decorations look beautiful and the crews have been hard at work. I caught Dave Richardson at the covered bridge, in action. Page 6 December 4, 2018 - Page 68 of TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Update on Snow Days taking place December 13-16, 2018. PRESENTER(S): Peggy Wolfe, Highline ACTION REQUESTED OF COUNCIL: No action requested. Informational only. BACKGROUND: The Town of Vail, Vail Resorts, Highline, and community partners have come together to support a new and improved, large scale community wide event to stimulate demand and drive visitation in Vail from December 13 — 16, 2018. The Commission on Special Events funded Snow Days $30,000 in 2018 and the Vail Town Council funded an additional $270,000 in August 2018. This funding is in addition to Vail Resorts committing to fund $200,000 and provide additional sponsorships and marketing support. ATTACHMENTS: Description Snow Days Update Memo December 4, 2018 - Page 69 of TOWN OF VAIL Memorandum To: Vail Town Council From: Economic Development Department Date: November 29, 2018 Subject: Snow Days Update Action Requested: No action required. Information update only. Background: The Town of Vail, Vail Resorts, Highline, and community partners have come together to support a new and improved, large scale community wide event to stimulate demand and drive visitation in Vail from December 13 — 16, 2018. The Commission on Special Events funded Snow Days $30,000 in 2018 and the Vail Town Council funded an additional $270,000 in August 2018. This funding is in addition to Vail Resorts committing to fund $200,000 and provide additional sponsorships and marketing support. Summary: The four day event includes events and programs beginning Thursday night with a bonfire at Golden Peak, headliner concerts on Friday and Saturday nights at Ford Park, event activation throughout Vail, and business and lodging promotions. Highline has been working with businesses and the lodging community to create partnerships and promotional programs including multi -day lodging discounts, Savor Vail and Snow Days Live. Initial occupancy reports over Snow Days weekend are already outpacing 2017 by over 9%. 11/29/2018 Page 1 December 4, 2018 - Page 70 of TOWN Of 9 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: CDOT 1-70 West Vail Pass Auxiliary Lanes Project Update PRESENTER(S): Greg Hall, Public Works Director, John Kronholm CDOT Project Manager and Dick Cleveland, Vail Representative ACTION REQUESTED OF COUNCIL: Listen to the presentation and provide feedback BACKGROUND: CDOT is conducting an environmental assessment and conceptual design for safety improvements, including installing auxiliary lanes on the eastbound and westbound lanes on 1-70 on the west side of Vail Pass, from MM 180 to MM 190.1 mprovements in this project study area were included as a part of the preferred alternative CDOT selected in the 1-70 Mountain Corridor Programmatic Environmental Impact Statement (1-70 PEI S, a tier 1 National Environmental Policy Act (NEPA) process). This presentation is an update of the progress to date and an invitation to a Public Meeting on December 13, 2018 from 4:30 to 6:30 at Donovan Pavilion. This meeting is critical to hear from the public regarding the potential impacts and mitigation required to eventually construct the project. STAFF RECOMMENDATION: Provide initial feedback to CDOT and encourage the public to attend as well as Town Council members attendance at the Public Meeting December 13. ATTACHMENTS: Description Presentation December 4, 2018 - Page 71 of 1-70 West Vail Pass Auxiliary Lanes IMPROVE SAFETY AND OPERATIONS SAFETY CONCERNS High number of crashes Substandard geometry Speed differentials resulting in: Sideswipes Rear -end crashes Narrow roadway impacts driver correction TRAFFIC OPERATION ISSUES Lack of width to maintain single lane of traffic during incidents High number of full closures 2014-2017: 306 total hours of full closure due to incidents Steep grades & tight curves with high number of slow-moving vehicles Slower speeds with erratic lane changes Speed differentials creating unreliable travel times Travel way severely impacted by snow accumulation PURPOSE AND NEED December 4, 2018 - Page 72 of 509 1-70 West Vail Pass Auxiliary Lanes PURPOSE AND NEED AIL r OF LANES FI ILL 1LoSI1RES (2017) TOTAIL.t OF CRASHES {2014-2016) 24 TIMES RUNAWAY TRUCK RAMPS USED (4/2015-12/2017) WEST VAIL PASS WEST STRAIGHT CREEK SHRINE PASS TO EAST VAIL EISENHDWEFI T. NN EL TO S ILVERT F C'r1 E 4 91 19 558 335 32,900 AVERAGE NIJMBER OF VEHICLES IN PEAK SUMMER DAY 4123110 4Si 41:5210 ESP 41Sii 41330 421i110 `moo � �oo TOTAL ECONOMIC IMPACT EACH HOUR 1-70 IS CLOSED $1,000,000 2 December 4, 2018 - Page 73 of 509 MAJOR TASKS Context Statement, Values & Vision Traffic & Safety Evaluation Environmental Existing Conditions Purpose & Need Alternatives Development & Issue-specificSuccess factors Level 1Screening Refine Preferred Alternative Environmental Technical Reports Environmental Assessment Ongoing Stakeholder Coordination 2017 1-70 West Vail Pass Auxiliary Lanes SCHEDULE 2018 2019 2020 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Public Meeting Thursday December 13 4:30-6:30 PM Donovan Pavilion 30 -day Public ReWew Deaden Document Public Meeting Goals and Objectives: o Provide update on progress since Feb 2018 public meeting o Gather public comments regarding Proposed Action o Gauge public prioritization of core values related to design option refinement LEGEND c Public Meeting OTechnical Team ITT) Meeting 4 Project Leadership Team WET f Meeting 3 December 4, 2018 - Page 74 of 509 1-70 West Vail Pass Auxiliary Lanes PROJECT CONSIDERATIONS PROJECT INPUT: STAKEHOLDERS: Safety Operations Traffic during construction • • • Terrestrial Wildlife Permeability • Aquatic Wildlife Water quality/resources Wetlands Recreation Noise Aesthetics Landscaping Limits of Disturbance Recreation Path Maintenance Emergency Services Historical Utilities Residents Businesses Truck Parking/Chain up/Ramps Visual Etc. (More to list) USFS Town of Vail Eagle County/Eco Trails Summit County • 1-70 Coalition • Colorado Motor Carriers Assoc. • State Historic Preservation Office • Colorado Snowmobile Assoc. • Trout Unlimited 'CSS Process • Colorado Parks and Wildlife • Eagle River Watershed Council • ERWSD • EPA/NRCS/CDHPE/DNR Water R. • Army Corp Engineers • US Fish and Wildlife • Eco -Resolutions • Rocky Mountain Wild • Vail Fire and Emergency Services • Vail Police Department • Eagle County Paramedics • Colorado State Patrol • Etc. (More to list) Stakeholder Groups: Core Values Critical Issues Success Factors December 4, 2018 - Page 75 of 509 SOLUTION: Balancing the interests of all the Stakeholders and Project Inputs 1-70 West Vail Pass inr- Auxiliary Lanes PROPOSED ACTION AUXILIARY LANES WITH FULL SHOULDERS, CURVE MODIFICATIONS, AND ITS IMPROVEMENTS • Widens EB and WB roadway to three 12 -foot lanes and standard shoulder widths Potential exceptions to the standard shoulder width may occur to avoid impacts to sensitive environmental areas, rock cuts, etc. Includes curve modifications and ITS improvements Proposed cross-section of Auxiliary Lanes with Full Shoulders with Curve Modifications and ITS Improvements (180) Town of Vail 18 December 4, 2018 - Page 76 of 509 I L 4c:111C 14 Ld11C 14 Ld11C Standard InsideOutside Shoulder Width Standard Shoulder Width '�-j�' im 1111111%, _ Proposed cross-section of Auxiliary Lanes with Full Shoulders with Curve Modifications and ITS Improvements (180) Town of Vail 18 December 4, 2018 - Page 76 of 509 1-70 West Vail Pass Auxiliary Lanes EXAMPLE CURVE MODIFICATION Ex stir, 1-70 En~ Cp. oen 1 (ndJaceet le Fee6vay) ptian 2 (Combination) Cton 3 (5000 siee or creek) inti December 4, 2018 - Page 77 of 509 TOWN Of UAIL VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Ordinance No. 23, Series of 2018, First Reading, An Ordinance Making Adjustments to the Town of Vail General Fund, Capital Projects Fund, Housing Fund, Real Estate Transfer Tax Fund, Marketing Fund, Heavy Equipment Fund, and Dispatch Services Fund. PRESENTER(S): Kathleen Halloran, Finance Director and Carlie Smith, Financial Services Manager ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No. 23, Series 2018. BACKGROUND: Please see attached memo. STAFF RECOMMENDATION: Approve or approve with amendments Ordinance No. 23, Series 2018. ATTACHMENTS: Description Supp3 December 4, 2018 - Page 78 of Memorandum TO: Vail Town Council FROM: Finance Department DATE: December 4, 2018 SUBJECT: 2018 Budget Supplemental Appropriation I. SUMMARY In Tuesday evening's session, you will be asked to approve the first reading of Ordinance No. 23, Series 2018, the third supplemental appropriation of the 2018 budget. II. DISCUSSION Across all funds, this supplemental request will adjust the budget to reflect $4,649,780 of additional revenue and proposes an increase of $1,836,540 to expenditures. The fund statements are also attached. General Fund Staff proposes to increase budgeted revenue by $1,247,318 to reflect actual collections in 2018 above and beyond the 2018 original budget. This includes: • $800,000 of construction permits and $300,000 of plan check fees due to increased construction activity. Several large projects contributed to the increase, such as Vail Health, Ski and Snowboard Club Vail, Four Seasons renovations, Solar Vail among other commercial projects. Large residential projects have also contributed significantly to the overage this year. • $105,000 of short term rental fees to be offset by a decrease in business license fee collections in the Marketing Fund. Short term rental (STR) licenses were originally issued as a business license and therefore were collected and budgeted in the Marketing Fund. Effective March 2018, a unique STR license was established to separate it from a business license and therefore collected in the General Fund. • $16,500 increase in Real Estate Transfer Tax (RETT) collection fee, a 5% administration fee paid to the General Fund by the Real Estate Transfer Tax Fund. The fee increase corresponds with increased RETT revenue collected year to date. • $25,818 increase in VRA collection fee, a 2% administration fee paid to the General Fund by the Vail Reinvestment Authority (VRA). The fee increase corresponds with increased property tax collections in the Lionshead TIF district compared to budget. December 4, 2018 - Page 79 of Budgeted revenue will also be adjusted by an increase of $380,978 which is directly offset by corresponding expenditures: • A total of $342,385 in reimbursement for deployment to eleven separate wildfires, with $266,123 of that covering the town's personnel and travel costs for those incidents and $76,262 for the use of town vehicles and equipment during wildfire deployment. • $22,705 of state funding for the Northwest Incident Management Team exercise that occurred September 26th- 28th in Keystone, CO. • $15,888 of donations raised by Friends of the Library will be used for the annual Friends of the Library membership brunch, a 35th anniversary celebration, digital archiving event banners, and library tote bags. Staff is requesting an overall increase in budgeted expenditures of $628,439, which includes a $304,716 relating to expenditures corresponding to the reimbursements mentioned above. The remaining $323,723 of expenditures includes: • $270,000 Council Contribution to be transferred to the Marketing Fund for an elevated Snow Days event as approved on August 7th • $7,250 to begin live streaming the DRB and PEC meetings. • $10,000 to restock bus schedule maps • $25,418 for an audit of the town's telecommunication services accounts including land lines, data, internet, and wireless accounts. The audit will result in annual savings of $26,485. • $11,055 in salaries ($8,305) and benefits ($2,750) for one winter seasonal maintenance worker and one fulltime winter maintenance worker paired with an irrigation worker. Both of these positions are included in the 2019 and the 2018 expenditure is to hire these positions in December. Staff received an out -of -cycle contribution request for $5,000 from the Vail International Hockey Association to help pay for a trip to China. The donation will help cover ice time, evening entertainment, uniforms, and other group travel expenses. This request is not currently included in tonight's supplemental. Should Council support funding this request, it will be included in the 2nd reading on December 18tH These adjustments to the General Fund 2018 budget result in a net increase of $1.0 million, with a resulting fund balance of $28.8 million by the end of 2018, or 71 % of annual revenues. Capital Projects Fund Staff proposes to increase budgeted revenue by a total of $2.6 million. Of that, $1,624,100 reflects actual Use Tax collections that exceed the budget for 2018. Total year to date collections total $3.6M compared to an annual budget of $1,975,900. The remaining $1.0 million increase reflects a larger transfer from the Vail Reinvestment Authority to reimburse the Capital Projects Fund for construction of the Red Sandstone Parking Structure. The original budget projected a five year payback, but with VRA tax collections coming in higher than budget, the payback will span only three years. There is no change to the construction budget for the parking structure. Staff is requesting to supplement 2018 expenditures by a total of $762,000. This includes bringing forward $350,000 from the 2019 budget to upgrade nodes and networking gear for the public "wi-fi" access system originally installed in 2014. $312,000 is requested to be transferred to the Housing Fund for the purchase of a housing unit at East Vail Lodging (Unit 2) which will become part of the town's employee rental pool. The remaining $100,000 is to upgrade the locking system at the municipal building entrances. This includes exterior entrances and internal access to the Police and Dispatch Services areas. -2- December 4, 2018 - Page 80 of The proposed budget adjustments will result in an estimated fund balance of $14.3 million by the end of 2018. Housing Fund Staff requests additional funding of $312,000 from the Capital Projects Fund for the purchase of a housing unit at East Vail Lodging (Unit 2) to become part of the town's employee rental pool. In exchange, the town's Altair Vail unit will be sold (once the current lease ends) to a town employee to help offset the cost. Real Estate Transfer Tax (RETT) Fund Staff proposes to increase budgeted revenue by $330,000 to reflect actual RETT collections during 2018. Year to date collections total $6.4M compared to an annual budget of $6,100,000. Budgeted revenues will also be adjusted by an increase of $172,384. This includes grant revenues of $13,684 from the Nature Conservancy to help offset costs for the Intermountain Fuels project. The remaining $158,700 of revenue will be offset by corresponding expenditures including $8,700 for E -Waste Collection Day and $150,000 of donations for the Pete Seibert memorial statue "Pete's Dream". During 2018, Council approved a $150,000 placeholder contingent upon matching funds to be raised in 2018. To date $169,400 has been raised through community support. With the town managing the project funding, the full $300,000 project cost must be appropriated, with the donation revenue as an offset. Staff is requesting to supplement 2018 expenditures by a total of $330,200. This includes the expenditures corresponding to $158,700 in reimbursements mentioned above. The remaining $171,500 of expenditures includes: • $75,000 to perform a wildlife mitigation and habitat improvement plan on the East Vail parcel. This will include an environmental assessment for the National Environmental Policy Act (NEPA). • $80,000 brought forward from the 2019 budget for design costs for the Nature Center remodel as approved by Council on September 18th • $16,500 real estate transfer tax collection fee to be paid to the General Fund to correspond with increases in real estate transfer tax collections. A budget transfer of $5,330 from the Forest Health operating budget is requested to cover additional radios purchased for the wildland forest health crew, which is listed as a separate capital expenditure. There is no net impact from this transfer of funds within the RETT Fund. The proposed budget adjustments will result in an estimated fund balance of $887,046 by the end of 2018. Marketing Fund Staff proposes to decrease business license revenues by $105,000 to recognize the movement of short term rentals licenses now accounted for in the General Fund. Prior to March of 2018, short term rental licenses were issued as business licenses and therefore were collected and budgeted in the Marketing Fund. Staff also proposes to increase budgeted revenue by a $2,186,120 transfer from the General Fund to be offset by corresponding expenditures. This includes $270,000 for Vail Snow Days (in addition to the $30,000 granted by the Commission on Special Events) and the remaining $1,916,120 relates to catch-up funding using the new presentation style for the Marketing Fund -3- December 4, 2018 - Page 81 of as a transfer from the General Fund to improve transparency on special event spending as approved by Council on November 61h Dispatch Staff is requesting to increase budgeted expenditures by $11,035 for annual maintenance of the new public safety interactive response management system. Heavy Equipment Fund Staff is requesting to increase budgeted expenditures by $104,866 for increased fuel costs. The increase is price driven and not related to an increased use of vehicles. III. ACTION REQUESTED FROM COUNCIL Approve or approve with amendments Ordinance No. 23, Series 2018 upon first reading. -4 December 4, 2018 - Page 82 of TOWN OF VAIL 2018 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND Proposed 2018 1st 2018 2nd 2018 3rd 2018 Original Supplemental Amended Supplemental Amended Supplemental Amended Revenue Local Taxes: $ 26,046,000 $ 26,046,000 $ 26,046,000 $ 26,046,000 Sales Tax Split b/t Gen'I Fund & Capital Fund 62/38 62/38 62/38 62/38 Sales Tax 16,149,000 16,149,000 16,149,000 16,149,000 Property and Ownership 5,300,000 5,300,000 5,300,000 5,300,000 Ski Lift Tax 5,212,600 (268,400) 4,944,200 4,944,200 4,944,200 Franchise Fees, Penalties, and Other Taxes 1,151,137 1,151,137 1,151,137 1,151,137 Licenses & Permits 1,747,787 1,747,787 1,747,787 1,205,000 2,952,787 Increase due to actual collections of construction permits ($800K) and plan check fees ($300K); Short term rental license collections ($105K) Intergovernmental Revenue 1,980,972 35,700 2,016,672 197,803 2,214,475 365,090 2,579,565 State wildfire reimbursements ($342K); State grant reimbursements for Northwest Incident Management Team (NWIMT) training ($22.7K) See corresponding expenditures below Transportation Centers 5,388,000 (240,100) 5,147,900 5,147,900 5,147,900 Charges for Services 922,264 922,264 922,264 42,318 964,582 RETT collection fee ($16.5K), VRA management fee ($25.8K) Fines & Forfeitures 254,156 254,156 254,156 254,156 Earnings on Investments 131,000 131,000 131,000 131,000 Rental Revenue 1,064,137 1,064,137 1,064,137 1,064,137 Miscellaneous and Project Reimbursements 180,000 180,000 1,000 181,000 15,888 196,888 Recognition of Friend of the Library grant money ($15.9K)- see corresponding expenditures below Total Revenue 39,481,053 (472,800) 39,008,253 198,803 39,207,056 1,628,296 40,835,352 Expenditures Salaries 18,794,352 109,000 18,903,352 176,196 19,079,548 189,276 19,268,824 Wildlife deployment ($181K); Maintenance workers approved in 2019 budget fora December start date ($8.3K) Overtime for 2015s - - - Benefits 6,767,047 37,000 6,804,047 38,410 6,842,457 75,138 6,917,595 Wildlife deployment ($72.4K); Maintenance workers approved in 2019 budget for a December start date ($2.8K) Subtotal Compensation and Benefits 25,561,399 146,000 25,707,399 214,606 25,922,005 264,414 26,186,419 Contributions and Welcome Centers 1,948,943 196,000 2,144,943 41,932 2,186,875 (1,916,120) 270,755 $1.9M of special event funding reclassed as a transfer to the Marketing Fund for new Marketing Fund presentation- See corresponding transfer below 2015's operating expenses- - - All Other Operating Expenses 8,174,208 49,700 8,223,908 84,664 8,308,572 94,025 8,402,597 Wildlife deployment ($12.8K); Telecommunications audit ($25.4K); Incident Management Team Training ($22.7K); Restock bus maps ($10K); live stream DRB/PEC meetings ($7.3K); Library events and programs ($15.9K) Heavy Equipment Operating Charges 2,385,076 2,385,076 2,385,076 2,385,076 Heavy Equipment Replacement Charges 725,926 725,926 725,926 725,926 5 December 4, 2018 - Page 83 of 509 Dispatch Services 659,608 659,608 659,608 659,608 Total Expenditures 39,455,160 391,700 39,846,860 341,202 40,188,062 (1,557,681) 38,630,381 Revenue Over (Under) Expenditures 25,893 (864,500) (838,607) (142,399) (981,006) 3,185,977 2,204,971 - 1- _ $1.9M special event catch-up transfer for new - (2,186,120) (2,186,120) Marketing Fund presentation; Additional funding for Vail Snow Days ($270K) Transfer to Marketing & Special Events Fund Planning Projects Civic Area/Dobson Master Plan (125,000) (125,000) (125,000) (125,000) West Vail Master Plan (350,000) (350,000) (350,000) (350,000) Deficit Net of Transfers & New Programs (449,107) (1,313,607) (1,456,006) (456,149) Beginning Fund Balance 27,651,283 1,638,048 29,289,331 29,289,331 29,289,331 Ending Fund Balance $ 27,202,176 $ 27,975,724 $ 27,833,325 $ 28,833,182 As % of Annual Revenues 69% 72% 71% 71% EHOP balance included in ending fund balance - not spendable $ 690,000 $ 690,000 $ 200,000 $ 890,000 $ 890,000 6 December 4, 2018 - Page 84 of 509 TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Proposed New Project Requests 2018 1st 2018 2nd 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Supplemental Amended Revenue Total Sales Tax Revenue: $ 26,046,000 $ 26,046,000 $ 26,046,000 $ 26,046,000 2018 at 2% increase from 2017 projected (1% decrease from 2016 actuals) Sales Tax Split between General Fund & Capital Fund 62/38 62/38 62/38 62/38 Sales Tax - Capital Projects Fund $ 9,897,000 $ 9,897,000 $ 9,897,000 $ 9,897,000 Use Tax 1,975,900 1,975,900 1,975,900 1,624,100 3,600,000 $1.9M construction use tax collections above 2018 original budget; 2018 at 2% increase from 2017 amended; Construction Fees - - - - Federal Grant Revenue - - - - 2015-2016: Bridges at Nugget Lane and Bridge Rd Eagle County Grant Revenue Have requested $500K funding from Eagle County for West Vail Fire Station Other County Revenue 260,302 260,302 260,302 $260.3K reimbursement for radios from Eagle County Sheriff's Office, Eagle County Health Services District, and Avon Police Department Other State Revenue - - 83,691 83,691 83,691 DOLA grant for license plate readers (2 vehicles) and upgraded police intel sharing software program Lease Revenue 159,135 159,135 159,135 159,135 Per Vail Commons commercial (incr. every 5 years); adjusted to remove residential lease revenue ($38K) Sales of Chamonix Housing Development Units 16,742,000 16,742,000 951,900 17,693,900 17,693,900 Sale of Chamonix Housing Units Project Reimbursement 5,843,802 50,000 5,893,802 1,095,614 6,989,416 6,989,416 2018: Red Sandstone parking structure reimbursement with $4.3M from Vail Resorts and $1.5M from Eagle County School District; $50KM Use of Holy Cross Community Enhancement Funds to offset project to bury electric lines from Liftside to Glen Lyon Office Building- see corresponding expense below; $1.1M use of Holy Cross Enhancements Funds to be used towards Big Horn Rd and Intermountain during 2018. Timber Ridge Loan repayment 489,419 489,419 489,419 489,419 $28.5K interest on $1.9M loan to TR; Principal and interest on $8M loan to Timber Ridge Fund Earnings on Investments and Other 38,723 38,723 38,723 38,723 0.7% rate assumed on available fund balance Total Revenue 35,145,979 50,000 35,195,979 2,391,507 37,587,486 1,624,100 39,211,586 Expenditures Maintain Town Assets Bus Shelters 30,000 88,825 118,825 118,825 118,825 Re-appropriate for Annual bus shelter maintenance; 3 bus shelters are currently being evaluated Parking Structures 695,000 695,000 695,000 695,000 2018: Various repairs including deck topping replacement, expansion joint repairs, ventilation, HVAC, plumbing and other structural repairs Welcome Center Maintenance 250,000 250,000 250,000 250,000 2018: Furniture replacement for Lionshead Welcome Center- current furniture has reached it's 5 year life. This includes paint and built in desks ect; Children's Garden of Learning- Boiler Replacement 12,800 12,800 12,800 12,800 Council Contribution for boiler replacement Traffic Impact Fee and Transportation Master Plan Updates 200,000 33,482 233,482 233,482 233,482 2018: $233.5K for 20-year Transportation Master Plan to coincide with West Vail Master Plan. Neighborhood Bridge Repair - 689,134 689,134 689,134 100,000 689,134 Kinnickinnick (West) Bridge Repair, West Forest Bridge Repair; Scheduled for 2019 (Reappropriation from 2017) Facilities Capital Maintenance 476,000 476,000 476,000 576,000 $100K lock upgrade to municipal building entrances; Various repairs to town buildings including the upkeep of exterior (roofing, siding surfaces, windows, doors), interior finishes (paint, carpet, etc.), and mechanical equipment (boilers, air handlers, etc.). Donovan Park Pavilion 5,000 10,000 15,000 15,000 15,000 Annual Maintenance Street Light Improvements 50,000 97,057 147,057 147,057 147,057 Re-appropriate for annual maintenance to street lights; 2018: $50K LED light enhancements Capital Street Maintenance 1,220,000 - 1,220,000 1,220,000 1,220,000 On-going maintenance to roads and bridges including asphalt overlays, patching and repairs; Town-wide camera system 70,000 70,000 140,000 140,000 140,000 Re-appropriate to replace Bosch system(30 cameras) originally scheduled in 2017 ($70K each year until 2019); Audio -Visual capital maintenance 18,000 18,000 18,000 18,000 Audio visual, phone and IT equipment for an EOC at the West Vail Fire Station Document Imaging 30,000 30,000 30,000 30,000 Annual maintenance, software licensing, and replacement schedule for scanners and servers. Software Licensing 217,000 217,000 217,000 217,000 2018:Upgrade Microsoft products on all equipment to continue until 2019; renewal of licenses; $3K per year increase from original 5 year plan due to additional software products; 2018: Includes Virtual Desktop terminal services replacement and $75K for Asset Management software *placeholder*. Police Equipment 26,100 26,100 95,691 121,791 121,791 2018: Replace existing headsets, vests, and helmets for 6 SOU members ($20.5K), Upgrade mass casualty supplies in patrol cars ($5.6K); DOLA grant for License plate readers for two vehicles ($65.3K) upgraded police Intel sharing platform ($18.4K); Replacement of 40 body worn cameras ($12K) Hardware Purchases 150,000 150,000 150,000 150,000 2018: Replacement of 50 workstations Data Center (Computer Rooms) 15,000 894,036 909,036 909,036 909,036 Re-appropriate for relocation of data center; This includes remodel / retrofit of upper and lower computer rooms (power, heating / cooling, fire suppression). Data Center equipment replacement and generator - - - 300,000 300,000 300,000 Replace data center server infrastructure; upgrade and replace emergency generator to increase capacity 7 December 4, 2018 - Page 85 of 509 TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Proposed New Project Requests 2018 1st 2018 2nd 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Supplemental Amended Website and e-commerce 12,000 12,000 12,000 12,000 Internet security & application interfaces; website maintenance; includes $550/month for web hosting svcs Fiber Optics / Cabling Systems in Buildings 62,000 62,000 62,000 350,000 62,000 2017/2018: Repair, maintain & upgrade cabling/network Infrastructure; 2018: Install fiber optics from data center to CenturyLink Network upgrades 30,000 30,000 30,000 380,000 Move forward $350K from 2019 budget to begin upgrade to node and networking gear installed in 2014 for public wi-fi access; Computer network systems - replacement cycle every 3-5 years Phone System 52,000 25,220 77,220 77,220 77 220 IPO Phone system replacement ($25.2K); normal replacement of (pads, (phones ($20K); phone system; replacement of phones, headsets Business Systems Replacement - 308,700 308,700 30,000 338,700 338,700 Re -appropriate for $1.3K for final bills for financial statement module, $160K for sales tax software, $90K STR software; $19K for Com Dev project Docs software; $38K new bus scheduling software (approx. operating costs is $20/yr.) $30K supplemented for sales tax software due to needed enhancements Public Safety System 74,000 23,768 97,768 97,768 97,768 Annual capital maintenance of "County -wide "Computer Aided Dispatch/Records Mgmt. System"; includes patrol car and fire truck laptops and software used to push information to TOV and other agencies; Re -appropriate for Fire and police mobile data computer replacement ($24K) Extrication Equipment 100,000 100,000 100,000 100,000 To purchase updated extrication equipment that will work with newer and more advanced vehicles RHMAEC trailer (TOV's portion) 60,000 60,000 60,000 60,000 TOV's portion of a RHMAEC(Regional Hazardous Association of Eagle County)- Eagle county is putting $120K towards this vehicle. In return for TOV's higher contribution yearly RHMAEC fees will be credited. Fire engine equipment 50,000 50,000 50,000 50,000 To purchase the necessary fire engine equipment to fully equip 4th fire engine; this will allow this vehicle to be used when other engines our being repaired or in an emergency Vehicle Expansion 265,000 265,000 265,000 265,000 2018: Snow Blower ($200K), Landscape architect truck ($30K), Drug Task Force vehicle ($35K) Total Maintenance 4,169,900 2,240,222 6,410,122 425,691 6,835,813 450,000 7,285,813 Enhancement of Town Assets Guest Services Enhancements/Wayfinding - 647,684 647,684 647,684 647,684 Continuation of Guest Service / Wayfinding enhancements outside of VRA district Lionshead Express Bus Stop Improvements (VRA) 400,000 400,000 400,000 400,000 Improvements to Lionshead Express Bus stop to allow for West bound stop and turnaround Vail Spa Heated Walk (VRA) 250,000 250,000 250,000 250,000 Connect the Lion with Vail Spa via heated sidewalks; Energy Enhancements - 87,899 87,899 87,899 87,899 Re -appropriate to upgrade Holy Cross transformers and services for more electric charging stations Heated walkway between underpass and First chair (VRA) 281,432 281,432 281,432 281,432 Re -appropriation for heated walk between the underpass and First Chair building to be completed in conjunction with RSES parking structure Pedestrian Safety Enhancements 1,500,000 - 1,500,000 1,500,000 1,500,000 2018: Lighting for Main Vail roundabouts and West Vail Roundabouts (approved by council on 7/5/16); Transit Stop Improvements 475,000 475,000 175,000 650,000 650,000 2018:Transit Lane for express buses at Vail Village Transit Center; Add pedestrian improvements, bus tuming improvements to West Vail Arosa bus stop in West Vail; Transfer of $175K from West Vail Sidewalk repairs as approved by Council on 5/1- See corresponding budget decrease below West Vail Roundabout 350,000 350,000 350,000 350,000 West Vail roundabout concrete replacement/repair near Marriott Streamside (currently there is exposed re -bar) Library Self -Check System Updates 20,000 18,000 38,000 38,000 38,000 Re -appropriate for Library replacement kiosk and security gate replacement Chamonix- TOV - 230,322 230,322 230,322 230,322 Chamonix contingency- TOV East Meadow Drive Snowmelt - 800,000 800,000 800,000 800,000 Re -appropriation for Snowmelt major repairs from Solaris to Austria House/Covered Bride area to be done at same time as the Slifer Square construction. This includes paver removal, snowmelt, asphalt replacements with concrete pavers; To be done in conjunction with Slifer Square Slifer Plaza/ Fountain/Storm Sewer 3,000,000 1,377,119 4,377,119 4,377,119 4,377,119 Repairs to Silfer Square fountain and storm sewers West Vail Interchange Sidewalk Repair 500,000 500,000 (175,000) 325,000 325,000 Transfer $175K to Vail transit stop improvements as approved by Council on 5/1- See corresponding budget increase above; $325K to repair sidewalk damage underneath the 1-70 bridge Neighborhood Road Reconstruction - 54,740 54,740 54,740 54,740 Re -appropriate for continuation of shared drainage project with ERWSD on Rockledge Rd/Frontage Rd Neighborhood Bridge Reconstruction 200,000 1,354,106 1,554,106 1,554,106 1,554,106 Re -appropriate for Bridge Road construction scheduled for 2018 Lionshead Parking Structure Landscape Renovations (VRA) 100,000 100,000 100,000 100,000 Re -appropriate for improvements to parking structure landscaping around the eastern areas of the Lionshead where trees have been lost and planting eroded by years of snow storage Colorado Ski Museum renovation - 500,000 500,000 500,000 500,000 Re -appropriate for town contribution toward expansion and remodel of Colorado Ski Museum (paid in 2018) Parking Entry System / Equipment 93,037 93,037 93,037 93,037 Re -appropriate for ongoing parking equipment maintenance; $75K for conversion of Ford Park gates to automatic ticketing system to enhance Ford Park parking management 8 December 4, 2018 - Page 86 of 509 TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Proposed New Project Requests 2018 1st 2018 2nd 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Supplemental Amended Radio Equipment replacement/expansion 600,000 260,340 860,340 860,340 860,340 Re -appropriate for additional radios for backup radios and crew expansion; related yearly County fees ($10K) included in HEF; Previously $693K budgeted in 2014 for replacement of approximately 59 radios for PW, PD and Fire. Adjusted to only include radios purchased over 12 years ago (in 2008 the town replaced a number of radios; these will not be replaced until 2018) Hybrid Bus Battery Replacement 431,772 431,772 431,772 431,772 Re -appropriate for scheduled replacement; Estimated life of 6 years; While batteries are passed their lifecycle replacement has not been needed as of yet Replace Buses - 3,229,587 3,229,587 3,229,587 3,229,587 Re -appropriate for 7 buses ordered in 2017 scheduled for replacement and delivery in 2018 ($440.5K per bus); Public Works Shops & Maintenance Buildings 150,000 150,000 300,000 300,000 300,000 Re -appropriate for Public Works shops HVAC ($150K each in 2017 and 2018) Public Works Building Remodel 150,000 150,000 150,000 150,000 2018: $150K Design for PW building remodel Public Works Equipment Wash Down/WO Improvements 246,967 246,967 246,967 246,967 Re -appropriate for exterior wash area for large trucks not safe in the winter; also includes improvement to how the waste water is disposed Total Enhancements 7,595,000 9,863,005 17,458,005 - 17,458,005 - 17,458,005 New Assets Municipal Redevelopment 300,643 300,643 300,643 300,643 Re -appropriate for planning of possible future municipal building redevelopment evaluated as part of the Civic Center Area Master Plan Red Sandstone Parking Structure (VRA) 13,718,912 978,041 14,696,953 14,696,953 14,696,953 Re -appropriate for construction of 4 level parking structure at Red Sandstone Elementary school, with contributions from Vail Resorts ($4.3M) and Eagle County School District ($1.5M); Remainder to be reimbursed by VRA overtime VVMC / TOV Frontage Road improvements 202,229 202,229 202,229 202 229 Re -appropriate for VVMC/TOV joint project on Frontage Road; Improvements would span from LH Parking structure to Municipal building; Design funded by Traffic Impact Fee funds; Original Plan: 2020: VVMC plans for expansion; Improvements would spto Municipal building; funded by VRA ($3.6M to be repaid by VRA $100K in 2020 and $3.5M in 2021, Traffic impact fee ($3.15M), Remaining CPF & Developments ($2.25M) Chamonix Housing Development - 4,083,151 4,083,151 4,083,151 4,083,151 Re -appropriate for final constructionanfromLH of ChamonixParkingstructure Vail 1-70 Underpass (VRA) 492,990 492,990 492,990 492,990 Re -appropriate for final bills; 2015-2017 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 East LH Circle pathway to Dobson (VRA) 93,560 93,560 93,560 93,560 Re -appropriate planning and design to Improve connection from the E LionsHead bus stop to Dobson originally scheduled in 2016; Project has been moved to unfunded pending the civic center master plan revision Dobson Plaza (VRA) - 100,000 100,000 100,000 100,000 Re -appropriate planning/design to redevelop the center plaza of Dobson for better flow of bus traffic, people traffic (concerts) originally scheduled in 2016; Project has been moved to unfunded pending the civic center master plan revision Buy -down Program(Affordable Housing) 500,000 (500,000) - - - Allocate $500K for InDeed program with a transfer to 2017 Housing Fund Budget; Underground Utility improvements - 121,128 121,128 2,066,938 2,188,066 2,188,066 $50K for undergrounding electric between Glen Lyon office building and Liftside- see reimbursement above; $71 K for CDOT project; $2.1M for Big Horn Rd and Intermountain Eastern portion projects to be completed in 2018 using Community Enhancement Funds ($1.1M reimbursement from the Holy Cross enhancement funds) Total New Assets: 14,218,912 5,871,742 20,090,654 2,066,938 22,157,592 - 22,157,592 Total Expenditures 25,983,812 17,974,969 43,958,781 2,492,629 46,451,410 450,000 46,901,410 Other Financing Sources (Uses) 1,000,000 (312,000) Transfer from Vail Reinvestment Authority 2,156,000 2,046,023 4,202,023 4,202,023 5,202,023 2018: $1.5M Red Sandstone, $400K Lionshead Express Bus Stop, $206K Vail Spa heated sidewalk; Re -appropriate $2.0M from unused 2017; Additional $1.0M reimbursement for Red Sandstone Transfer to Housing Fund (761,550) (761,550) (1,500,000) (2,261,550) (2,573,550) $312K transfer to purchase East Vail Lodging Unit #2; $1.5M transfer to Vail InDeed Housing Fund; Fund the purchase Altair Vail unit $261.6K by Housing Fund; $500K transfer to fund the Vail InDeed program Transfer to Dispatch Fund - - - - - Transfer from Dispatch for Radio Tower project (TOV portion) Revenue Over (Under) Expenditures 11,318,167 (16,640,496) (5,322,329) (1,601,122) (6,923,451) 1,862,100 (5,061,351) Beginning Fund Balance 5,057,591 14,327,108 19,384,700 19,384,700 19,384,700 Ending Fund Balance 16,375,759 14,062,372 12,461,250 14,323,350 9 December 4, 2018 - Page 87 of 509 10 December 4, 2018 - Page 88 of 509 TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Proposed New Requests 2018 1st 2018 2nd 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Supplemental Amended Revenue $ 330,000 Real Estate Transfer Tax $ 6,100,000 $ 6,100,000 $ 6,100,000 $ 6,430,000 $330K Real Estate Transfer Tax collections to reflect YTD actuals Golf Course Lease 165,000 165,000 165,000 165,000 Annual lease payment from Vail Recreation District; annual increase will be based on CPI - deposited to "Recreation Enhancement Account" (accompanying expenditure listed below) Intergovernmental Revenue 20,000 215,847 235,847 235,847 13,684 150,000 8,700 235,847 2018: $30K Fishing is Fun grant for Gore Creek riparian habitat improvements; $12K grant from the Colorado Department of Agriculture for TOV noxious weed program; $39K GOCO grant for riparian plants near covered bridge and Vail Valley Drive; $135K state funding for water mitigation at PW to be received in 2018 when work is completed; $20K lottery revenue Project Reimbursements - 6,000 6,000 6,000 19,684 2018: $13.7K contribution from the Nature Conservancy for Intermountain Fuels Project; this is in addition to $6K Contribution from the Nature Conservancy for Intermountain Fuels Project contributed earlier in the year. Donations 2,098 2,098 30,359 32,457 182,457 $150K donations for Pete's Dream sculpture- See corresponding increase in expenditures below; $28.4K donation from Vicki and Kent Logan Family Trust for installation of Lawrence Weiner art; $1 K donation from Varlaufer HOA for Roger Staub park maintenance access improvements included in the capital maintenance budget; $1K donation from East West Partners for Sole Power prizes; $2.1K use of Sole Power Donations Recreation Amenity Fees 10,000 10,000 10,000 10,000 Earnings on Investments and Other 49,059 49,059 49,059 57,759 0.7% rate assumed; 2018: $8.7K use of bag fee collections for American's Recycles Day due to increased participation; this is in addition to $30K used toward recycling events budgeted earlier in the year Total Revenue 6,344,059 223,945 6,568,004 30,359 6,598,363 502,384 7,100,747 Expenditures Maintain Town Assets Annual Park and Landscape Maintenance 1,678,895 27,000 1,705,895 1,705,895 16,500 (5,330) 5,330 1,705,895 Ongoing path, park and open space maintenance, project mgmt.; $12K grant from the Colorado Department of Agriculture for the town's noxious weed program; $15K to renew partnership with USFS for noxious weed management program Management Fee to General Fund (5%) 305,000 305,000 305,000 321,500 5% of RETT Collections - fee remitted to the General Fund for administration Tree Maintenance 65,000 65,000 65,000 65,000 Regular maintenance for tree health within the town (spraying, removing, new trees); scale spraying on town -owned property at approx. $120 per tree; Initiating tree -planting program for lost trees Forest Health Management 277,248 277,248 277,248 271,918 Operating budget for Wildland Fire crew Forest Health VHF Radios 31,863 31,863 31,863 37,193 2018: 13 VHF radios for Wildland crew ($2,450/each) for incidents outside of Eagle County; Will enable communication with other agencies using this technology such as Summit County Intermountain Fuels Reduction 5,000 69,328 74,328 74,328 74,328 Re -appropriate 2017 to complete Intermountain Fuels Project $63.3K and reflect Nature Conservancy contribution $6K- See corresponding reimbursement above; 2018: Phase III ($5K); 2017 included $677.7K for Phase II and contributions from Eagle County($20K) and Nature Conservancy ($36K);2016 included $63.7K for Phase I 10 December 4, 2018 - Page 88 of 509 11 December 4, 2018 - Page 89 of 509 TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Proposed New Requests 2018 1st 2018 2nd 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Supplemental Amended Street Furniture Replacement 25,000 25,000 25,000 25,000 Annual replacement or capital repairs, benches, recycling and bike racks Rec. Path Capital Maint 110,986 110,986 110,986 110,986 Capital maintenance of the town's recreation path system Park / Playground Capital Maintenance 160,076 75,000 235,076 235,076 235,076 2018: Transfer $75K from Stephen's park for park safety improvements; Annual maintenance items include projects such as playground surface refurbishing, replacing bear -proof trash cans, painting/staining of play structures, picnic shelter additions/repairs, and fence maintenance; 2018 also includes $54K increase for improvements to access into Roger Staub Park Alpine Garden Support 69,700 69,700 69,700 69,700 Annual operating support of the Betty Ford Alpine Gardens; annual increase to follow town's general operating annual increase Alpine Garden -Fountains 19,000 19,433 38,433 38,433 38,433 Re -appropriate 2017 Council Contribution to complete repairs to BFAG water features - original contribution $30K Eagle River Watershed Support 45,450 45,450 45,450 45,450 Annual support of the Eagle River Watershed Council programs Public Art - Operating 111,201 - 111,201 111,201 83,700 111,201 Art in Public Places programming Environmental Sustainability 489,465 43,098 532,563 7,000 539,563 623,263 $8.7K for America Recycles Day reimbursed from bag fee collections; $75K for a wildlife mitigation and habitat improvement plan on the East Vail parcel; $1 K for Sole Power awards and prizes- see corresponding donation above from East West Partners; $6K for two new E -bikes for Town of Vail employee program; Environmental EMS system $34K ($12K re -appropriate from 2017, $22K new funding), $2K Local Climate Resolution approved 12/5, $5K Annual Rocky Mountain Climate Membership; $2.1K for Sole Power awards and prizes- See corresponding reimbursement above: Environmental Sustainability programs Total Maintenance 3,393,884 233,859 3,627,743 7,000 3,634,743 100,200 3,734,943 Enhancement of Town Assets Gore Valley Trail Reconstruction Conoco to Donovan 450,000 450,000 450,000 450,000 Gore Valley Trail Reconstruction between Conoco and Donovan Pavilion Glen Lyon Rec. Path Reconstruction - - Reconstruction of Glen Lyon Rec Path to be completed with the construction of the 1-70 underpass ($150K) North Recreation Path- Sun Vail to Pedestrian Bridge 125,000 110,000 235,000 235,000 235,000 $110K requested for the North Recreation Bike Path reconstruction on North Frontage road between Sun Vail and the pedestrian Bridge estimated at $235K to coincide with Red Sandstone parking garage project Chalet Road Sport Courts - 38,463 38,463 38,463 38,463 Re -appropriate to install acoustic barriers to minimize noise Soft Surface Trails 100,000 68,109 168,109 168,109 168,109 Re -appropriate for trail enhancements pending Open Lands discussion Vail Transit Center Landscape 125,000 125,000 125,000 125,000 Landscaping at Vail Transit Center to coincide with construction of additional bus lane at Vail TRC Streamtract Education/Mitigation 103,061 103,061 103,061 103,061 Re -appropriate for water quality and streamtract education, outreach, signage and marketing; water quality personnel Water Quality Infrastructure 1,050,000 1,462,181 2,512,181 2,512,181 2,512,181 Re -appropriation of 2017 funds to continue water quality improvement to Gore Creek; Stormwater site specific water and water quality construction projects as part of "Restore the Gore" Streambank Mitigation 350,000 550,458 900,458 900,458 900,458 2018: $30K Fishing is Fun grant for Gore Creek riparian habitat improvements; $38,847 Great Outdoors grant for riparian plants near covered bridge and Vail Valley Drive; Re - appropriate Riparian Site specific construction projects for Water Quality Strategic Action Plan East Vail Water Quality TAPS 1,125,111 1,125,111 1,125,111 1,125,111 Re -appropriate for East Vail Water Quality Improvements; Rollover Includes CDOT TAP grant funding of $700K in 2017 East Vail Interchange Improvements 500,000 923,960 1,423,960 1,423,960 1,423,960 Re -appropriate for landscaping design and construction of the interchange 11 December 4, 2018 - Page 89 of 509 12 December 4, 2018 - Page 90 of 509 TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Proposed New Requests 2018 1st 2018 2nd 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Supplemental Amended Dowd Junction repairs and improvements 1,800,000 338,515 2,138,515 2,138,515 2,138,515 Continuation for re-stabilization of Dowd Junction path; Repairs to culverts, drainage, and preventative improvements; project in cooperation with Eagle River Water and Sand (ERWSC)- scheduled for Fall 2018 Stephens Park Safety Improvements 225,000 (75,000) 150,000 150,000 150,000 2018: Transfer $75K to Capital Park Maintenance to address urgent park safety needs in a variety of playgrounds; Access improvements to include extended sidewalk, new stairs and other site improvements; playground was built in 1990's Bighorn Park Improvements - 13,208 13,208 13,208 13,208 2018: Re-appropriate for drainage repairs and improvements near pavilion $13.2K Ford Park Portal Improvements - 23,868 23,868 23,868 23,868 Re-appropriate for final portal feature Ford Park Playground/Lower Bench Improvements - - - - Budget dollars allocated to Booth Creek Park project Open Space Land Acquisition - 150,000 150,000 150,000 150,000 Acquisition of East Moran streamtract parcel Booth Creek Park - 40,000 40,000 40,000 40,000 2018: Re-appropriate $40K to modify foot traffic pattern in park Public Art - General program / art 85,000 533,226 618,226 28,359 646,585 646,585 $28.4K donation to be used for installation costs for Lawrence Weiner art; To purchase sculptures, artwork, art programs and events; remainder is re-appropriated each year to accumulate enough funds. Also includes 2017 sales from manhole covers Public Art - Winterfest - 352 352 352 150,000 352 Carry over balance from 2017 for final 2017/2018 Winterfest bills ($352). Seibert Memorial Statue - 150,000 150,000 150,000 300,000 Placeholder for Pete Seibert Memorial statue Total Enhancements 4,960,000 5,810,135 10,770,135 28,359 10,798,494 150,000 10,948,494 VRD-Managed Facility Projects Recreation Enhancement Account 165,000 140,094 305,094 305,094 305,094 Annual rent paid by Vail Recreation District; to be re-invested in asset maintenance; Golf Course - Other 384,769 622,372 1,007,141 1,007,141 1,007,141 Re-appropriate from 2017 for design and planning to replace bridges at holes 13 & 14 ($50K), replace stone veneer with timber railings ($16.4K),rebuild irrigation pumps ($13.1K); $400K for storage building; asphalt driving and parking area; 2018: Replacement of bridges at holes 14&15 ($370.7K), replace radiant tube heaters ($11.3K), pump house exterior ($2.8K); Dobson Ice Arena 68,206 403,105 471,311 471,311 471,311 Re-appropriate from 2017 to complete pavers and concrete slab replacement ($54K)remodel rink bathrooms and changing rooms ($131.1K), rock wall repair ($10.5K), clean wood structure ($38.2K), replace pumps ($45.9K), redesign and rebuild electrical room ($120.2K); 2018: Replace windows and heat pumps ($68K) Ford Park /Tennis Center Improvements 61,256 96,675 157,931 157,931 157,931 Re-appropriate from 2017 to complete replace gutters ($9.3K), remodel bathrooms ($31K), replace lockers ($13.1K), furnace ($13.7K), hot water tank ($7.6K), and base board heaters ($18.6K); 2018: Stain wood siding of concessions ($5.6K) and restrooms ($5.6K), $50K for restroom remodel Athletic Fields 6,078 29,445 35,523 35,523 35,523 Re-appropriate from 2017 to paint wood structure and exterior trim ($8K), rooftop replacement for restrooms and athletic field ($21.3K); 2018: Seal coat and crack fill in parking lot ($6K) Gymnastics Center - 52,089 52,089 52,089 80,000 52,089 Re-appropriate to install a new cooling system ($52.1) Nature Center - 87,240 87,240 95,500 182,740 262,740 $80K for nature center remodel design costs moved forward from the 2019 budget; Temporary Nature Center structure ($95.5K); Re-appropriate to complete research on historical preservation and design ($17.8K); Exterior windows, doors, wood siding and slope roof ($69.8K) Total VRD-Managed Facility Projects 685,309 1,431,020 2,116,329 95,500 2,211,829 80,000 2,291,829 New Assets 12 December 4, 2018 - Page 90 of 509 13 December 4, 2018 - Page 91 of 509 TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Proposed New Requests 2018 1st 2018 2nd 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Supplemental Amended Golf Clubhouse & Nordic Center - 118,729 118,729 118,729 118,729 Completion of clubhouse renovation; Total clubhouse cost included $1.165M reimbursement from VRD, allocation of Recreation Enhancement Funds $765,440, Conference Center funds of $3.8M, 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 55,000 116,420 171,420 91,200 262,620 262,620 Move forward Ford Park East end special events power originally included in 2019 budget ($91.2K); Re-appropriate for softball field shelter currently undergoing re-evaluation $116.4K ; 2018: Ford Park Soccer Field ADA Route ($55K) Total New Assets: 55,000 235,149 290,149 91,200 381,349 - 381,349 Total Expenditures 9,094,193 7,710,163 16,804,356 222,059 17,026,415 330,200 17,356,615 Revenue Over (Under) Expenditures (2,750,134) 7,432,592 (10,236,352) (191,700) (10,428,052) 172,184 (10,255,868) Beginning Fund Balance 3,710,322 7,432,592 11,142,914 11,142,914 11,142,914 Ending Fund Balance $ 960,188 $ 906,562 $ 714,862 $ 887,046 13 December 4, 2018 - Page 91 of 509 TOWN OF VAIL 2018 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE VAIL MARKETING & SPECIAL EVENTS FUND Proposed 2018 3rd 2018 Budget Supplemental Amended Revenue Business Licenses $ 380,000 $ (105,000) $ 275,000 Transfer in from General Fund 2,186,120 2,186,120 Earnings on Investments 1,500 1,500 Total Revenue 381,500 2,081,120 2,462,620 Expenditures Commission on Special Events (CSE) Education & Enrichment 360,000 516,980 876,980 151,500 151,500 Signature Events Bravo! 289,661 289,661 Vail Jazz Festival 74,902 74,902 Vail Valley Foundation - Hot Summer Nights 27,500 27,500 Vail Valley Foundation - Dance Festival 53,562 53,562 Vail Valley Foundation - Colorado Classic 110,000 110,000 Burton US Open 490,000 490,000 Snow Days 300,000 300,000 Spring Back to Vail 100,000 100,000 Vail Skating Event 20,000 20,000 Fireworks/Laser/Drone Show 52,015 52,015 Collection Fee - General Fund 20,000 20,000 Total Expenditures 380,000 2,186,120 2,566,120 Revenue Over (Under) Expenditures 1,500 (105,000) (103,500) Beginning Fund Balance 323,606 323,606 Ending Fund Balance $ 325,106 $ 220,106 14 December 4, 2018 - Page 92 of TOWN OF VAIL 2018 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEAVY EQUIPMENT FUND Proposed 2018 1st 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Revenue Town of Vail Interagency Charge $ 3,204,133 $ 3,204,133 $ 3,204,133 Insurance Reimbursements & Other 10,000 10,000 10,000 Earnings on Investments 7,500 7,500 7,500 Equipment Sales and Trade-ins 130,483 130,483 130,483 Total Revenue 3,352,116 3,352,116 3,352,116 Expenditures Salaries & Benefits 1,186,555 1,186,555 1,186,555 Operating, Maintenance & Contracts 1,413,188 1,413,188 104,866 1,518,054 IncreasedKfuel costs ($104.9K) Capital Outlay 703,700 143,500 847,200 847,200 Total Expenditures 3,303,443 143,500 3,446,943 104,866 3,551,809 Revenue Over (Under) Expenditures 48,673 (94,827) (199,693) Beginning Fund Balance Ending Fund Balance 1,548,913 306,085 1,854,998 - 1,854,998 $ 1,597,586 $ 1,760,171 $ 1,655,305 15 December 4, 2018 - Page 93 of TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE DISPATCH SERVICES FUND Proposed 2018 1st 2018 2nd 2018 3rd 2018 Budget Supplemental Amended Supplemental Amended Supplemental Amended Revenue E911 Board Revenue $ 762,176 $ 762,176 $ 762,176 $ 762,176 Interagency Charges 1,279,892 1,279,892 1,279,892 1,279,892 Other County Revenues - - 4,981 4,981 4,981 Town of Vail Interagency Charge 659,608 659,608 659,608 659,608 Earnings on Investments 6,050 6,050 6,050 6,050 Project Reimbursement - 364,000 364,000 364,000 364,000 Total Revenue 2,707,726 364,000 3,071,726 4,981 3,076,707 3,076,707 Expenditures Salaries & Benefits 2,149,392 2,149,392 4,981 2,154,373 2,154,373 Annual maintenance Operating, Maintenance & Contracts 510,569 510,569 510,569 11,035 521,604 for new public safety interactive response management system Capital Outlay 119,500 550,000 669,500 669,500 669,500 Total Expenditures 2,779,461 550,000 3,329,461 4,981 3,334,442 11,035 3,345,477 Revenue Over (Under) Expenditures (71,735) (186,000) (257,735) (257,735) (11,035) (268,770) Surplus Net of Transfers & New Programs (71,735) (186,000) (257,735) (257,735) (11,035) (268,770) Beginning Fund Balance 864,239 274,625 1,138,864 (186,000) 1,138,864 1,138,864 Ending Fund Balance $ 792,503 $ 881,129 $ 881,129 $ 870,094 16 December 4, 2018 - Page 94 of TOWN OF VAIL 2018 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HOUSING FUND Proposed 2018 1st 2018 2nd 2018 3rd 2018 Original Supplemental Amended Supplemental Amended Supplemental Amended Revenue Housing Fee in Lieu (balance) $ - $ $ $ - Housing Fee in Lieu (2017 collections) - - Transfer from Capital Projects Fund (balance) - - Capital Projects Funding - 761,550 761,550 1,500,000 2,261,550 312,000 2,573,550 Total Revenue 761,550 761,550 1,500,000 2,261,550 312,000 2,573,550 Expenditures InDEED Program 1,000,000 1,000,000 1,500,000 2,500,000 2,500,000 Town of Vail Rental Inventory - - - 312,000 312,000 Solar Vail Housing Development - 4,225,000 4,225,000 4,225,000 4,225,000 Buy Down Housing - 429,049 429,049 429,049 429,049 Total Expenditures 5,654,049 5,654,049 1,500,000 7,154,049 312,000 7,466,049 Operating Income - (4,892,499) (4,892,499) - (4,892,499) (4,892,499) Beginning Fund Balance 4,892,499 4,892,499 4,892,499 Ending Fund Balance $ $ $ $ 17 December 4, 2018 - Page 95 of ORDINANCE NO. 23 SERIES OF 2018 AN ORDINANCE MAKING BUDGET ADJUSTMENTS TO THE TOWN OF VAIL GENERAL FUND, CAPITAL PROJECTS FUND, REAL ESTATE TRANSFER TAX FUND, MARKETING FUND, DISPATCH SERVICES FUND, HEAVY EQUIPMENT FUND, AND HOUSING FUND OF THE 2018 BUDGET FOR THE TOWN OF VAIL, COLORADO; AND AUTHORIZING THE SAID ADJUSTMENTS AS SET FORTH HEREIN; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, contingencies have arisen during the fiscal year 2018 which could not have been reasonably foreseen or anticipated by the Town Council at the time it enacted Ordinance No. 14, Series of 2017, adopting the 2018 Budget and Financial Plan for the Town of Vail, Colorado; and, WHEREAS, the Town Manager has certified to the Town Council that sufficient funds are available to discharge the appropriations referred to herein, not otherwise reflected in the Budget, in accordance with Section 9.10(a) of the Charter of the Town of Vail; and, WHEREAS, in order to accomplish the foregoing, the Town Council finds that it should make certain budget adjustments as set forth herein. NOW, THEREFORE, BE IT ORDAINED, BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO that: 1. Pursuant to Section 9.10(a) of the Charter of the Town of Vail, Colorado, the Town Council hereby makes the following budget adjustments for the 2018 Budget and Financial Plan for the Town of Vail, Colorado, and authorizes the following budget adjustments: General Fund $ 628,439 Capital Projects Fund 762,000 Housing Fund 312,000 Real Estate Transfer Tax Fund 330,200 Marketing Fund 2,186,120 Dispatch 11,035 Heavy Equipment Fund 104,866 Total $ 4,334,660 Less Interfund Transfers (4,776,170) Net Total $ (441,510) 2. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any Ordinance No. 23, Series of 2018 December 4, 2018 - Page 96 of 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. 3. 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. 4. The repeal or the repeal and reenactment of any provision of the Municipal Code of the Town of Vail as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceedings as commenced under or by virtue of the provision repealed or repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. 5. All bylaws, orders, resolutions, and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution, or ordinance, or part thereof, theretofore repealed. INTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 4th day of December, 2018, and a public hearing shall be held on this Ordinance on the 18th day of December, 2018, at the regular meeting of the Town Council of the Town of Vail, Colorado, in the Municipal Building of the town. Dave Chapin, Mayor ATTEST: Tammy Nagel, Town Clerk Ordinance No. 23, Series of 2018 December 4, 2018 - Page 97 of TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Second reading of Ordinance No. 19, Series 2018, an ordinance repealing and reenacting Chapter 14 of Title 4 of the Vail Town Code, regarding Short Term Rental Properties. PRESENTER(S): Kathleen Halloran, Finance Director and Johannah Richards, Sales Tax and Licensing Administrator ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No. 19, Series 2018 upon second reading. BACKGROUND: Please see attached memo. STAFF RECOM M ENDATION: Approve or approve with amendments Ordinance No. 19, Series 2018 upon second reading. ATTACHMENTS: Description STR December 4, 2018 - Page 98 of TOWN OF VAIL' Memorandum TO: Town Council FROM: Finance Department DATE: December 4, 2018 SUBJECT: Short -Term Rental Ordinance No. 19, Series 2018 I. SUMMARY On November 6th Town Council passed the first reading of Ordinance No. 19, revising the town's current regulations of short-term rentals. Based on Council direction, the second reading of the ordinance was delayed until December 4th to allow more time for public input and discussion. On November 13th town staff met with the lodging/condotel group to gather more information which was provided to Council on November 20th as an update. II. BACKGROUND Prior to adopting Ordinance No, 15, Series 2017, Town Council, staff and consultants dedicated over 18 months to research and identify community concerns, analyze peer resort regulations and gather input from multiple public meetings. On March 1, 2018 the town's Short -Term Rental (STR) Ordinance went into effect. On July 17, 2018 staff provided an update to Council on how things were going. As a result of concerns raised by a number of property management companies and learnings from staff's implementation, recommendations for policy changes were suggested on September 4 2018. Town Council agreed to revisit certain terms of the town's ordinance regulating short-term rentals. Additional input was gathered from both the property management and lodging community, and revisions to the ordinance address many of their concerns. III. DISCUSSION The new ordinance and accompanying tiered fee structure will address many of the concerns that were voiced by both the property management representatives as well as recent input from the condo-tel/lodging community. The following is a restatement of changes to the regulations that are currently proposed: December 4, 2018 - Page 99 of - Any rental of a residential dwelling unit less than 30 days as a STR requires a registration. - Allowing "professionally managed" properties to be represented by a designated agent for the registration process and remittance of taxes. This would extend to property managers and "condo -tel" type of lodging properties for example. - Creation of an umbrella application for professionally managed units, so multiple properties can be registered under one application as long as information on each property is listed. The ordinance also allows for multiple properties to be included within one tax return remittance as long as supporting detail by individual property is provided. - Decriminalization of violations of the STR Ordinance. This means that rather than issuing a summons to municipal court, there is a fine structure for unresolved complaints or violations of the ordinance. The fines increase after the first violation within a consecutive 12 month period; upon the fourth violation in that same period, the STR will be prohibited for two years. The fines start at $500 for the first violation, then $1,500 for the second violation, $2,500 for the third violation and a two-year prohibition on renting at the fourth violation. - Based on feedback from participating citizens, Council agreed to revise the ordinance to no longer require the property owner's name and contact information on the posting in the interior of the rental unit. The posting must still contain the contact information of the local representative. - A majority of Council agreed to the $150 per property/unit fee during the October 16th meeting, however based on feedback received from property managers and the condo -tel lodging community, council directed staff to implement a tiered fee structure. The proposed fee structure: • $150 per unit fee for individually rented units • A 50% discount ($75) per unit fee for professionally managed properties • A 75% discount ($37.50) per unit fee for professionally managed properties with a 24/7/365 onsite manager ("condo- tels"). Fractional units will pay per unit, not per owner. This new fee structure will be presented to Council as a separate resolution to coincide with the second reading of the STR Ordinance. - Staff is proposing a March 1st 2019 effective date for the revised regulations. The intent is to allow enough time for further public outreach and communication -2- December 4, 2018 - Page 100 0 from the town as well as managers to communicate with their owners about the changes. IV. ACTION REQUESTED FROM COUNCIL Approve or approve with amendments second reading of Ordinance No. 19, Series 2018. -3 December 4, 2018 - Page 101 0 ORDINANCE NO. 19 SERIES 2018 AN ORDINANCE REPEALING AND REENACTING CHAPTER 14 OF TITLE 4 OF THE VAIL TOWN CODE, REGARDING SHORT-TERM RENTAL PROPERTIES NOW BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1. Chapter 14 of Title 4 of the Vail Town Code is hereby repealed in its entirety and reenacted to read as follows: CHAPTER 14 SHORT-TERM RENTAL PROPERTIES 4-14-1: PURPOSE AND APPLICABILITY: A. The purpose of this Chapter is to establish comprehensive registration regulations to safeguard the public health, safety, and welfare by regulating and controlling the use, occupancy, location, and maintenance of short-term rental properties in the Town. B. This Chapter shall apply to short-term rental properties only, as defined herein. This Chapter shall not supersede or affect any private conditions, covenants, or restrictions applicable to a short-term rental property. 4-14-2: DEFINITIONS: For purposes of this Chapter, the following terms shall have the following meanings: LEASE: An agreement or act by which an owner gives to a tenant, for valuable consideration, possession and use of property or a portion thereof for a definite term, at the end of which term the owner has an absolute right to retake control and use of the property. PROFESSIONAL PROPERTY MANAGEMENT FIRM: An entity comprised of one or more professional property managers with all required licenses in good standing, or a group of one or more employees of a lodge or fractional fee club, as those terms are defined in Section 12- 2-2, who are trained in property management and provide such services to owners of STRs within the lodge or fractional fee club. PROFESSIONALLY MANAGED STR: An STR that is managed, operated or controlled by a professional property management firm. 1 11/28/2018 S:IFINANCEIBUDGETIBUDGET 18ITOWN COUNCIL MEMOS & ANAL YSISISTRISTR-O103018.DOCX December 4, 2018 - Page 102 0 SHORT-TERM RENTAL PROPERTY ("STR"): A residential dwelling unit, or any room therein, available for lease for a term of less than thirty (30) consecutive days, but excluding bed and breakfasts and accommodation units. 4-14-3: REGISTRATION REQUIRED: A current, valid registration is required for each STR in the Town. 4-14-4: REGISTRATION PROCEDURE: A. At least thirty (30) days prior to any advertising of an STR, the owner or property management firm shall register the STR with the Finance Director or designee, on forms supplied by the Town. For professionally managed STRs, registration for multiple STRs may be made by filing a complete list of all the STRs in the Town managed by such firm, on forms supplied by the Town, and the list shall be updated at least quarterly. B. The fee for STR registration shall be set by resolution of the Town Council. C. If the STR is located within a duplex, the registration form shall include a copy of a written notice provided by the owner or property manager to the last known address of the record owner of the adjoining residential dwelling unit. The written notice shall be sent by first-class mail at least seven (7) days prior to registering the STR. D. No registration form shall be accepted without an affidavit, signed by the owner or the property management firm, under penalty of perjury, certifying that the STR is in habitable condition and complies with the health and safety standards set forth in Section 4-14-6. E. Each STR registration is nontransferable. F. An STR registration shall expire on February 28 of each calendar year, or when title of the STR transfers to a new owner, whichever occurs first. Each change in ownership of a STR shall require a new registration. 4-14-5: LOCAL REPRESENTATIVE REQUIRED: Each owner or property management firm shall appoint a natural person who remains within a sixty (60) minute distance of the STR and is available twenty-four (24) hours per day, seven (7) days per week, to serve as the local representative for the STR. The owner or property management firm shall notify the Finance Director or designee in writing of the appointment of a local representative within five (5) days of such 2 11/28/2018 S:IFINANCEIBUDGETIBUDGET 18ITOWN COUNCIL MEMOS & ANAL YSISISTRISTR-O103018.DOCX December 4, 2018 - Page 103 0 appointment or modification of any such appointment, including contact information. 4-14-6: HEALTH AND SAFETY STANDARDS: A. Each STR shall comply with all of the following standards, at a minimum, at all times while the STR is occupied: 1. Buildings, structures or rooms shall not be used for purposes other than those for which they were designed or intended. 2. Roofs, floors, walls, foundations, ceilings, stairs, handrails, guardrails, doors, porches, all other structural components and all appurtenances thereto shall be capable of resisting any and all forces and loads to which they may be normally subjected and shall be kept in sound condition and in good repair. 3. Smoke detectors, carbon monoxide detectors and fire extinguishers shall be installed and operable, and all wood -burning fireplaces and stoves shall be cleaned on an annual basis. 4. An operable toilet, sink, and either a bathtub or shower shall be located within the same building, and every room containing a toilet or bathtub/shower shall be completely enclosed by walls, doors, or windows that will afford sufficient privacy. 5. There shall be a sufficient number of trash receptacles to accommodate all trash generated by the occupants, and all receptacles shall comply with Title 5, Chapter 9 of this Code. 6. Occupancy of an STR shall comply with Title 12, Chapter 2 of this Code. 7. The use of portable outdoor fireplaces is prohibited. 8. Electrical panels shall be clearly labeled. 9. All pets shall be subject to Title 6, Chapter 4 of this Code. 4-14-7: PARKING: Parking for each STR shall comply with all applicable provisions of this Code. All vehicles shall be parked in designated parking areas, and parking is prohibited in any landscaped area. 3 11/28/2018 S:IFINANCEIBUDGET\BUDGET 18ITOWN COUNCIL MEMOS & ANALYSISISTRISTR-0103018.DOCX December 4, 2018 - Page 104 0 4-14-8: SIGNAGE: An owner or property management firm shall post a sign conspicuously inside each STR. The sign shall include the local representative's current contact information, the street address of the STR and the STR registration number. 4-14-9: ADVERTISING: Advertising for an STR shall include the STR registration number, or, for all professionally managed STRs, the Town business license number, immediately following the description of the STR. 4-14-10: TAXES: A. For each STR, all applicable Town sales and lodging taxes shall be timely collected and remitted. B. Professionally -managed STRs may submit one tax payment for multiple properties, so long as there is sufficient supporting information to identify each individual STR and the taxes collected on such STR. 4-14-11: NOTICE: Any notice required by this Chapter is sufficient if sent by first-class mail to the address provided by the owner or property management firm on the most recent registration form or registration list, provided that notice to the local representative shall also be sufficient to satisfy any required notice to the owner under this Chapter. 4-14-12: LIABILITY: A. An owner shall be liable for any and all violations occurring on the STR. B. A property management firm shall be jointly and severally liable for any and all violations occurring on any of its professionally managed STRs in the Town. 4-14-13: INITIAL COMPLAINTS: Initial complaints concerning a short-term rental property shall be directed to the local representative. The local representative shall resolve the issue that was the subject of the complaint within sixty (60) minutes, or within thirty (30) minutes if the problem occurs between 11:00 p.m. and 7:00 a.m., including visiting the site if necessary. 4 11/28/2018 S:IFINANCEIBUDGET\BUDGET 18ITOWN COUNCIL MEMOS & ANALYSISISTRISTR-0103018.DOCX December 4, 2018 - Page 105 0 4-14-14: VIOLATIONS, PENALTIES AND ENFORCEMENT: A. It is unlawful to violate any provision of this Chapter. Violations of this Chapter shall be civil infractions. Each day of violation shall be deemed a separate offense and be punishable as such. B. Violations of this Chapter shall be subject to the following fines and penalties, per STR: First violation in a 12 -month period: $500 Second violation in a 12 -month period: $1,500 Third violation in a 12 -month period: $2,500 Additional violation in a 12 -month period: STR prohibited for two years C. Enforcement of this Chapter may be initiated in any of the following ways: 1. A citation may be served by posting on the front door of the STR, or by personal service on the owner or the local representative, if present, or by mailing first class or certified mail to the last known address of the owner, local representative or property management firm; or 2. A summons and complaint may be served on the owner of the STR as provided in the Colorado Municipal Court Rules of Civil Procedure; or 3. A summons and complaint may be served on the associated property management firm or local representative for the STR as provided in the Colorado Municipal Court Rules of Civil Procedure. D. In addition to the penalties described above, the Town shall have any and all remedies provided by law and in equity for a violation of this Chapter, including without limitation: damages; specific performance; and injunctive relief, including without limitation an injunction requiring eviction of any occupants of the STR and an injunction to prohibit the occupancy of the Property in violation of this Chapter. All remedies shall be cumulative. Section 2. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause 5 11/28/2018 S:IFINANCEIBUDGET\BUDGET 18ITOWN COUNCIL MEMOS & ANALYSISISTRISTR-0103018.DOCX December 4, 2018 - Page 106 0 or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 3. The amendment of any provision of the Vail Town Code 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 proceeding as commenced under or by virtue of the provision amended. The amendment of any provision hereby shall not revive any provision or ordinance previously repealed or superseded unless expressly stated herein. Section 4. 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 ON FIRST READING this 6th day of November, 2018 and a public hearing for second reading of this Ordinance is set for the 4th day of December, 2018, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Dave Chapin, Mayor ATTEST: Patty McKenny, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 4th day of December, 2018. ATTEST: Tammy Nagel, Town Clerk 6 Dave Chapin, Mayor 11/28/2018 S:IFINANCEIBUDGETIBUDGET 18ITOWN COUNCIL MEMOS & ANAL YSISISTRISTR-O103018.DOCX December 4, 2018 - Page 107 0 TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Resolution No. 46, Series 2018, a resolution establishing fees for the registration of Short Term Rental properties. PRESENTER(S): Kathleen Halloran, Finance Director ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Resolution No. 46, Series 2018. BACKGROUND: This resolution sets the fees for the annual registration of short term rental properties. STAFF RECOMMENDATION: Approve or approve with amendments Resolution No. 46, Series 2018. ATTACHMENTS: Description STR Resolution December 4, 2018 - Page 108 0 RESOLUTION NO. 46 SERIES 2018 A RESOLUTION OF THE VAIL TOWN COUNCIL ESTABLISHING FEES FOR THE REGISTRATION OF SHORT-TERM RENTAL PROPERTIES WHEREAS, on December 4, 2018, the Town Council adopted Ordinance No. 19, Series 2018, which ordinance will be codified as Chapter 14 of Title 4 of the Vail Town Code and requires registration of all short-term rental properties in the Town; and WHEREAS, the Town Council wishes to establish the applicable fees for the registration of short-term rental properties in the Town. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL: Section 1. Pursuant to Vail Town Code § 4-14-4(B), the fees for the registration of a short-term rental property ("STR") in the Town shall be as follows: • Professionally managed STR providing onsite management services 24 hours per day, 7 days per week: $37 • Professionally managed STR without on-site management services 24 hours per day, 7 days per week: $75 • STR managed by an owner without a professional property management firm: $150. Section 2. Each STR requires a separate registration fee, regardless of whether the registration is made by list pursuant to Vail Town Code § 4-14-4(A). Section 3. The registration fee shall be paid upon the initial application for STR registration and with each renewal application. INTRODUCED, READ, APPROVED AND ADOPTED THIS 4th day of December, 2018. ATTEST: Tammy Nagel, Town Clerk 1 Dave Chapin, Mayor 11/28/2018 S:IFINANCEIBUDGETIBUDGET 181TOWN COUNCIL MEMOS & ANALYSISISTRIRESOLUTION 46 - STR FEES.DOCX December 4, 2018 - Page 109 0 TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Second reading of Ordinance No. 21, Series 2018, 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, 2019 through December 31, 2019. PRESENTER(S): Kathleen Halloran, Finance Director and Carlie Smith, Financial Services Manager ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No. 21, Series 2018. BACKGROUND: Please see attached memo. STAFF RECOMMENDATION: Approve or approve with amendments Ordinance No. 21, Series 2018. ATTACHMENTS: Description 2019 Budget 2nd Reading December 4, 2018 - Page 110 0 TOWN OF' VAIL' 2019 PROPOSED BUDGET 2nd Reading December 4, 2018 December 4, 2018 - Page 111 0 Town of Vail Proposed 2019 Budget Table of Contents Cover Memo 1 2019 Budget Highlights 13 Major Revenue Analysis 25 Summary of Changes in Personnel 26 Ten -Year Summary of Budgeted Positions by Department 27 Employee Benefits Summary 29 This report shows the list of employee benefits by percentage and costs. General Fund Revenue and Expenditures 30 This schedule shows the major revenue and expenditures by category in the General Fund Contributions and Special Events 31 Capital Projects Fund Revenue and Expenditures 45 This schedule shows revenue by type and expenditures by project in the Capital Projects Fund for 2018, Proposed 2019, and 2020 - 2023 plan Real Estate Transfer Tax Fund Revenue and Expenditures 50 This schedule shows revenue by type and expenditures by project in the RETT Fund for 2018, Proposed 2019, and 2012 - 2023 plan Unfunded Projects This schedule shows a listing of potential future projects that are currently not reflected in the proposed budget or long-term plan 54 Marketing (Business License) Fund Revenue and Expenditures 55 Heavy Equipment Fund Revenue and Expenditures 56 Health Insurance Fund Revenue and Expenditures 56 Dispatch Services Fund Revenue and Expenditures 57 Timber Ridge (Enterprise) Fund Revenue and Expenditures 58 Housing Fund Revenue and Expenditures 59 December 4, 2018 - Page 112 0 TOWN OF VAIL. Memorandum TO: Vail Town Council FROM: Finance Department DATE: December 4, 2018 SUBJECT: Proposed 2019 Town Manager's Budget I. SUMMARY The first reading of Ordinance 21, Series 2018 was passed on November 20th. The following memo is a repeat of the memo provided on November 20th, with responses to Council inquiries highlighted below. II. DISCUSSION Information provided in this second ordinance reading of the 2018 budget includes the proposed revenue and expenditures for all town funds, a summary of changes in personnel, funding recommendations for Council contributions and a five-year capital plan. The following budget philosophies are included in this 2019 budget proposal: • Use a sales tax revenue projection of 2% over 2018 forecast. • Increase the General Fund reserve minimum from 25% to 30% of revenues. • No increase to operating budgets in departments other than specific increases requested by departments to meet the stated goals of the upcoming budget year. Any special requests are outlined below. • A 4% performance-based merit and approximately $185,000 (less than 1% of annual wages) for wage adjustments identified by the compensation study. • Council discussed a number of capital projects within the Five Year Capital Improvement Plan, including some newly -identified projects currently unfunded. Adjustments to the 2019 Proposed Budget from November 20: During first reading of the ordinance, Council amended the proposed budget with the following changes (listed by Fund): General Fund Operations • A reduction of $10,000 in the placeholder of $20,000 for an open-air community dinner outreach event to expand the Town Council's civic engagement activities. December 4, 2018 - Page 113 0 • Reduction of $20,000 in funding for the Red Sandstone Elementary STEM Lab that was requested as a part of annual Council Contributions. The removal was based on Council's recollection that the original STEM Lab funding of $29,000 in 2017 was a one-time grant to get the program started. It was also stated that annual support was not appropriate for Town of Vail funding given the Vail tax dollars supporting the school district. Vail taxpayers represent 36% of annual property tax revenues for the Eagle County School District. Council did offer to provide an in-kind contribution of Donovan Pavilion rental if Red Sandstone wished to host a fundraising event at that facility. Capital Projects Fund • $55,000 was added to the proposed budget to help fund the new HD Digital videoboard at Ford Park Amphitheater installed during 2018. The Vail Valley Foundation had requested $110,000 back in February of 2018 however Council asked the Foundation to comply with the contribution process and apply as a part of the 2019 budget cycle. • $400,000 capital expenditure has been requested by the Timber Ridge Operating Committee to mitigate rockfall hazards above Timber Ridge Apartments based on results of an updated assessment. The Town of Vail is the owner of the property located at 1448 Buffer Creek Road, legally described as Parcel G - Open Space, Residences at Briar Patch, Subdivision. The property was purchased by the Town in 2011 for the expressed purpose of controlling and maintaining rockfall mitigation for the Timber Ridge Village and Lions Ridge Apartments. This is a similar project to the rockfall mitigation completed on the town's property in conjunction with the construction of the Lions Ridge Apartments. At that time, it was determined by the consulting geologic engineer that periodic rockfall mitigation would likely be required due to natural erosion, freeze thaw cycles, burrowing animals, and other similar environmental conditions. Marketing Fund • $20,000 that had been a placeholder for a laser or drone show to replace 4th of July fireworks was removed from the proposed budget. Council asked staff to be creative with the same budget allocation ($52,015). The $52,015 covers both 4th of July and New Year's Eve fireworks demonstrations. This reduction in the Marketing Fund will also show as a reduction in the interfund transfer from the General Fund. Town of Vail Page 2 December 4, 2018 - Page 114 0 REPEATED FROM NOVEMBER 20TH: 2019 Budget Objectives The 2019 budget proposal assumes a continuation of high service levels within a conservative economic forecast and strives to accomplish the goals stated in the Council Action Plan geared toward continuing Vail's leadership position. Council's goals are grouped in the following categories: `)N11Y V) 6435 10. n m To be the PREMIER international mountain resort community These goals and objective align closely with results from the Town's 2018 Community Survey, and the many strategic plans that help guide us in moving the community in a forward direction. Many of the new budget requests help align resources and equipment to accommodate added service levels and improvements to address several topics of importance to both Town Council and the community at large. Housing, Parking, Civic Area improvements and Environmental Sustainability were among the top priorities. Housing: As a significant priority of the "Community" goals within the Council Action Plan the new Housing Department as well as an internal Housing Fund were created in 2018 (with initial steps being pursued in the last quarter of 2017). The Housing Department's 2019 proposed budget includes funding to update a county wide housing strategic plan, as identified as a Town Council priority in the Council Action Plan. The proposed budget also includes $55,000 of funding to build a housing database that will be used to track nearly $55 million of recorded deed -restricted assets and identify housing market trends and changes in housing demands and needs. The goal of the database will be to determine Vail's total housing inventory, use of that inventory (deed restricted, fulltime resident, long-term rental, second homeowner, short term rental, etc.), and annual sales information. The request comes with 500 hours of intern time for the housing department to assist in the collection and data entry for the housing database. The 2019 budget also reflects an additional $2.5M transferred into the Housing Fund from the Capital Projects Fund to continue the success of the Vail INDEED Program. To date, the program has funded approximately $1.45M or 15 new deed restricted housing units within the town. In addition, the town participated in several successful housing public private partnerships through the future purchase of deed restrictions at the Solar Vail Housing Development (65 deed restrictions) and at the newly -constructed 6 West Apartments in Edwards (26 deed restrictions). Both of those projects included a prioritization of Vail employees for available units. Town of Vail Page 3 December 4, 2018 - Page 115 0 The total expenditure for of all of the above -referenced deed restriction purchases, for the 2018 fiscal year, is $7,154,049. The funds for these expenditures were approved by the Town Council within 2018 budget supplemental appropriations throughout the 2018 year. Included in the 2019 Vail Local Housing Authority proposed budget will be funding to find a permanent funding source for town housing programs. Parking: Council and staff continue to strive for improving the guest experience by providing more parking options. Within the Council's goal for "Experience", the completion of the new Red Sandstone parking structure this winter will add 120 spaces to public parking, with an additional 40 on non -school days. The 2019 proposed budget includes the operating costs of the structure such as utilities, maintenance, parking system equipment and seasonal staff to ensure the first winter goes smoothly. Management of summer overnight parking operations at the Vail Village and Lionshead parking structures similar to 2018 are also included. Civic Area Improvements: The 2019 proposed budget includes master planning dollars to continue the public engagement process. Currently there are no funds allocated to design or construction of any public improvements. Future capital projects within the defined civic area will utilize Tax Increment Financing (TIF) dollars, which is a Council priority within the "Economy" goals of the Council Action Plan. Environment: On the Environmental "Sustainability" front, the 2019 proposed budget includes funding to continue implementation of the Gore Creek Water Quality Plan and program updates required to maintain Vail's global sustainable destination certification, a continuation of Actively Green programming in the business community, and continued participation in Energy Smart Colorado to help meet the town's climate goals. New programming proposed for 2019 includes a contribution to the US Forest Service for the Front Country Ranger Program ($33K) supported by Council in the July 7th, 2018 meeting and a second phase of the Love Vail website buildout ($25K). To continue successful initiatives and education surrounding Gore Creek Water Quality Strategic Plan, the 2019 proposed budget includes the conversion of a "fixed term" water quality personnel to a fulltime employee. Emerging Technologies: To address initiatives identified in both the "Economy" and "Experience" goals, the 2019 proposed budget includes the hopeful pursuit of a new "Innovation Officer" position within the Town Manager's budget. The position is a placeholder should Council be interested in evaluating emerging technologies such as autonomous vehicles, rapid charging infrastructure, parking and transit innovations, data and information technologies, and so forth. The position, should it be pursued, will help keep the Town of Vail at the forefront of emerging technologies, while enabling more immediate efficiencies and conveniences to the community. To address Council's priority of employee retention, productivity and overall engagement within the "Sustainability" goal, staff has included a few items within the proposed 2019 budget. Based on recommendations from the town's internal "Great Place to Work" committee, budget requests include equalizing the wellness benefit for each employee that would replace the current ski pass/wellness benefit. Other employee related initiatives include wage adjustments based upon the compensation study results and the pursuit of enhanced housing opportunities in a multi -tiered approach that would include (1) a potential housing stipend or allowance for eligible employees; (2) enhanced Town of Vail Page 4 December 4, 2018 - Page 116 0 EHOP program to enable employees to purchase units, and (3) increased employee housing inventory within and beyond the Vail community. Not all of these programs have been fully defined, but a placeholder is requested at this time, with much more details to follow The budget areas summarized above were intended to highlight the initiatives outlined in the Council Action Plan. Additional budget assumptions for the proposed 2019 budget are outlined below: 2019 Projected Revenue The town's 2019 budget is funded by a projected $69.4 million net revenue budget. Excluding one-time impacts in 2018 from the $17.0M of sales of the Chamonix Housing Development and project reimbursements from the Red Sandstone Parking Structure ($4.3 million from Vail Resorts and $1.5 million from Eagle County School District) projected revenue is a 6.4% decrease from the 2018 forecast and a 3.7% increase from the 2017 actual results. 62% of the estimated $27.1 million in sales tax collections is budgeted to go toward General Fund operations and the remaining 38% to the Capital Projects Fund. Property tax collections are estimated at $5.3 million, flat with the 2018 budget (non - assessment year), are based on the most recent report from the County Assessor's office. Effective in 2017, was a reduction in residential taxes due to the Gallagher Act, however this was able to be offset by increases in property valuations. Looking forward, the Gallaher Act will again reduce residential taxes collections in 2020 by an estimated 10.4%, or $540,000 impact to the General Fund. Lift tax collections of $5.0 million are projected at a 1.6% increase from 2018 forecast. Parking revenue of $5.4 million is a 3.9% increase from 2018 forecast and a 10.7% increase from 2017 collections. Parking revenues were projected using an average winter plus summer overnight collections. Pass sale projections included a nominal amount for the new Red Sandstone parking structure. Construction permit fees ("Licenses and Permits") totaling $2.1 million is a 24.2% decrease from 2018 forecast. The 2019 projection is based on a five year average plus estimates for Mountain View, Park Meadows, and Launch projects. 2018 year to date collections of $2.5 million are trending 77% higher than prior year. Real Estate Transfer Tax revenue is projected at $6.3 million, flat with 2018 forecast and flat with 2017 collections. 2018 year to date collections of $5.3 million are up 14.5% from prior year. Construction Use Tax revenue is projected at $2.2 million, a 38.3% decrease from 2018 forecast. 2018 year to date collections include $1.9 million from the Vail Health project. Projections are based on a two year average plus estimates for Lion View, Park Meadows, and Launch projects. 2019 Proposed Expenditures Total operating expenditures for the General Fund are proposed at $39.1 million, a 2.8% increase from 2018 forecast. This does not include a transfer of $2.5M for special events to the Marketing Fund, requiring the utilization of reserves in the amount of $715,004. In addition, Town of Vail Page 5 December 4, 2018 - Page 117 0 reserves are needed for one time planning projects of $450K not included in the town's operating expenditures. The reserve balance remains at 69% of annual revenues as compared to the Council directive of 30%. As a service organization, the majority of spending relates to staffing. For 2019, this represents $31.9 million or 62% of total expenditures which includes benefits, wage adjustments based on the compensation study and a 4% proposed merit increase based on employee performance. Compensation Earlier and as part of the 2018 budget, Council authorized an independent comprehensive review of the town's compensation plan. During this process Council provided direction to remain a "competitive payer" with a pay program that rewards performance, competencies, and career development. On September 18th, Council was presented with the results of the study. The overall summery report showed that most pay ranges for the town are at market (+/-5% of market average). However some adjustments were recommended for below market ranges. The estimated cost to implement these adjustments is $185,000 (less than 1°/0 of the salary budget) and is included in the proposed 2019 budget. During the September 18th meeting, Council also supported a 4% percent merit increase for the 2019 budget. The town is experiencing increasing turnover rates across the organization, most notably in the first few years of employment. An internal assessment is that workforce opportunities have grown regionally and competition is stronger for skilled workers. A 4% merit increase is proposed to prevent a decline in market competitiveness and to continue as an average payer for most employment categories. As pay is only one tool used to attract, retain, and motivate employees, staff also formed a Great Place to Work committee to identify strategies to ensure the town is an employer of choice. One of the recommendations of the committee was to equalize the current wellness benefit, which reimburses full time employees for a Vail ski pass (up to $700), an athletic club membership (up to $450), or cash ($100). Taking effect in November 2019 (as a 2020 benefit), staff recommends converting this program to one that will equalize the wellness benefit by giving the same flat amount to each full time employee as a reimbursement for expenses relating to the improvement of overall employee health and wellness. Included in the 2019 budget is a placeholder of $137,500 to launch and administer this program. The full year cost of the program is estimated at $275,000 compared with $190,000 in prior years. During 2019 staff will fully define the program terms and eligibility requirements. Staff is requesting a placeholder of $200,000 to pursue a housing stipend or allowance for eligible employees (referenced above). While a proposed program has not been defined, other local organizations have provided some solid examples of housing assistance methods successfully resulting in employee retention and employees living nearby. Eagle River Water & Sanitation District (ERWSD) has 50% of employees residing in district -owned units. The other 50% either receives a $300/month housing allowance or has participated in other housing programs such as down payment assistance. As a result, 100% of their employees live in Eagle County. Colorado Dept. of Transportation (CDOT) provides a housing stipend of $500/month for employees in Summit, Eagle, Garfield and Pitkin counties. The City of Aspen has 50% of employees in either deed restricted housing or in their rental inventory. The Town of Breckenridge manages a down payment assistance program plus access to 900 deed restricted units. Town of Vail Page 6 December 4, 2018 - Page 118 0 Benefits as a percentage of wages is proposed at 40.6% for full time year round employees, up 0.6% from the 40.0% budgeted for 2018 and 39.9% from 2017 actual. Continuing the 2017 trend, 2018 is experiencing higher claims expenses and is expected to continue into 2019. Health claims experience is cyclical in nature. During 2013-2016, the town experienced notably fewer claims and was able to build a healthy reserve in the Health Insurance Fund. For 2019, premiums and fees are estimated to increase by 27% from 2018 budget. Staff will manage the impact in three ways: through an increase to employee monthly premiums, an increase in benefits charged to town departments and an appropriate amount of Health Insurance Fund reserves. Headcount The town's operations are proposed to be supported by 319.92 full time equivalent (FTE) positions in 2019, a 5.0 FTE (or 1.9%) increase from the prior year. Over the past ten years, the town has added 28 employees, or 9.6% of the total headcount. The majority of headcount additions over the years have centered around adding services such as a new fire station in West Vail, taking over the operation of the Welcome Centers, increased hours of bus service, parking hosts and special event staff. The new headcount requested in 2019 includes the following: • A placeholder for an Innovation Officer (1.0 FTE) is requested to explore emerging technologies and innovation within the organization in order to enhance and expand our leadership position as a premier resort community. • Conversion of a fixed term Watershed Education Coordinator to fulltime is requested to continue the success of the water quality programs and town environmental initiatives. • One part time (0.5 FTE) electrical inspector is requested to bring in house electrical inspections that are currently outsourced, estimated to result in net savings or $32K per year. • The Fire department is requesting to convert the seasonal Wildland Lead position (0.5 FTE) to a fulltime position (1.0) Wildland Lead / Fire Prevention for succession planning in fire inspections and to assist in retaining a high performing employee in the wildland Lead position currently hired annually on a seasonal basis. • The Police department is requesting to convert a part time (0.5 FTE) Administrative technician due to a 1.0 full time employee due to increased administrative requirements legislated by the Police Officer Standards and Training (POST). This position is covered in part by a grant through the Northwest Incident Management Team (NWIMT). • The Police department was approached by the Vail Mountain School (VMS) to partner with the town in providing a School Resource Officer (SRO) at VMS and Red Sandstone Elementary during the school year. The SRO would be used 70% of the time by the local schools and the remaining 30% by town to be utilized during the summer for events. VMS has agreed to contribute $70K to this position while the town would take on the remaining $31K. • One seasonal (0.50 FTE) summer Parking Equipment Technician is requested as catchup to overnight summer parking and tracking that began in 2018. • One part-time maintenance (0.5 FTE) worker is requested to be paired with a current irrigation tech (0.5 FTE) to alleviate scheduling issues • During 2018, staff included a budget placeholder in dollars for an Asset Manager (tied to a new cost accounting/ asset management / work order system). Staff is working to Town of Vail Page 7 December 4, 2018 - Page 119 0 implement the new organization -wide software in 2019. Staff is requesting to formally increase the headcount for this position (1.0 FTE). Please note that the asset management system was included in the 2018 budget and will be re -appropriated during the 1St supplemental of 2019 as no funds have been spent to -date. The following personnel requests only have monetary impact, but no increase to headcount: • The Housing Department in requesting an intern to support the creation of a housing database and trend analysis. • The Human Resource Department is requesting an intern to perform administrative duties, recruitment scheduling, and other special projects as needed. • A seasonal parking attendant is requested for start-up operations at the Red Sandstone Parking Garage for a fixed four month term from November 2018- February 2019. Staffing requests proposed by department heads that are not currently included in the 2019 budget proposal include: • Seasonal Winter Maintenance Worker (0.5 FTE) • Seasonal Streets Sweeper (0.5 FTE) • A Digital Archives and Marketing Library Associate. Staff recommends analyzing current staffing and needs for future consideration (1.0 FTE) Accordingly, 2.0 FTE was deemed by staff to be not approvable at this time but mentioned within the budget process for future consideration. Staff is also proposing to budget for anticipated vacancies in the 2019 budget. Due to increasing turnover over the past few years, staff is proposing to reduce overall budgeted wages by $300,000 to acknowledge staffing vacancies. This is a conservative estimate based on historical trends. Benefits for the entire organization are projected to total $8.7 million, a 6.2% increase from the 2018 budget. In earlier years (2013-2016) the town experienced reductions in overall healthcare due to fewer large claims which enabled the town to utilize savings to build up healthy reserves to cover the cyclical nature of health claims activity. During 2017 and 2018 claims experience has risen significantly, with 2019 anticipated to be trending in a similar manner. Please refer to page 31 for a break-out of all employee benefits. Benefits are broken out into two categories: "Fee-based" and "Payroll -based". Fee-based expenses relate to elected benefits such as healthcare and disability insurance. Payroll -based expenses relate to mandated benefits such as medicare and unemployment insurance. "Contributions and Welcome Centers" line item in the General Fund budget includes the Welcome Centers and Economic Development departments, as well as staff recommendations for Council Contributions. Transfer to Marketing Fund is General Fund support of the Commission on Special Events and Council funded "Destination" and "Signature Events". New levels of funding requested for Destination events including Snow Days Vail, Spring Back, and the Colorado Classic will be funded from reserves. Destination events are defined as events that have significant impact to the town's economy with potential to build the Vail brand. The application process for Vail Signature Events such as Bravo!, Vail Dance Festival and Burton US Open will be streamlined for an online process similar to CSE applications. While Town of Vail Page 8 December 4, 2018 - Page 120 0 the funding decision will remain with Town Council, utilizing the CSE's application process will provide for more efficiencies and upfront information to staff. In prior discussions, some Council members expressed a desire to review the application policy for the "Services" category of Council Contributions. The following is the current policy as outlined in the contribution application form: "Services: This category funds an aspect of services/expertise that the town does not already provide, supports the TOV physical plant and is appropriate for governmental support. Examples of this category include support of TV5, Colorado Ski and Snowboard Museum, Betty Ford Alpine Gardens and Eagle Valley Childcare. The town no longer requires an annual application to be filled out for ongoing operating support of established service providers, which will be included in the annual budget at a set level each year. This process is intended to cover operating expenses only. Additional opportunities may also be considered." Rather than fund operations, a suggestion was made to fund programming. Per Council's direction on November 6th, staff will return early in the year with a review of contribution policy prior to the next application cycle. Please see pages 33-46 for a summary of contribution requests and recommendations. Also included is a copy of all 2019 contribution request applications at the end of the budget packet materials. The Commission on Special Events (CSE) 2019 budget is flat with the 2018 budget, with total event spending proposed at $893,648. Funding for the "Education and Enrichment "category is proposed at $151,000, flat with the 2018 budget. Fireworks continue to be separately funded for a total of $52,015 for 2019 to include both the 4th of July and New Year's Celebrations. Staff would also like to propose an additional $20,000 of funding for a drone and/or laser show in case of a fire ban prohibiting 4th of July fireworks during summer 2019. All event funding is now presented in the Marketing Fund budget. Departmental spending of $8.1 million (also labeled as "All Other Operating" in the General Fund statement on page 32) is a 3.3% decrease from the 2018 amended budget. The following items represent significant changes from the prior year spending: • $33,000 new funding to participate in the Front County Ranger Program (USFS) • $55,000 for a housing database and trend analysis as mentioned above • $25,000 for a second phase of the Love Vail Energy website • $126,000 of annual fees for the Sales Tax and Short-term rental software programs as previously approved by Council • $40,000 to continue Global Friendship and Peer Resort Visit initiatives • $5,600 for Heritage Recognition and Preservation programs supporting the Vail's history such as the Trail Blazer award • $20,000 placeholder in the Town Manager's budget for Cultural and Historical Legacy initiatives yet to be defined. • $50,000 is requested by the fire department to conduct a comprehensive risk assessment/standards analysis Town of Vail Page 9 December 4, 2018 - Page 121 0 This General Fund 2019 budget proposal results in an ending fund balance of $28.3 million or 69% of annual revenues. Five -Year Capital Plan During the September 18th work session, staff provided Council with a preliminary five year capital plan in addition to project narratives for significant or new capital projects proposed as part of the 2019 budget. The five-year capital plan for the Capital Projects Fund and the Real Estate Transfer Tax (RETT) Fund are included pages 47-54. Outside of annual capital maintenance required for core services, capital projects are prioritized into four categories: • Priority A for Council top priorities funded in the upcoming year; projects may be time sensitive, contractual obligations or unique opportunities that have been presented. • Priority B for essential projects 1 to 3 years out. These are important projects but not urgent. • Priority C for desirable projects 3-5 years out. These projects address economic development or general community needs. • Priority D for identified projects, but currently "unfunded" and not included in the 5 year capital plan. These are identified to meet projected needs when budget allows. Cost increases are highlighted in orange, new requests are highlighted in green, timing changes to projects in purple and items previously included as placeholders are highlighted in blue. Capital Projects Fund: Total spending on capital projects of $19.2 million is proposed for 2019. Capital Maintenance and Priority A items are given the first priority of funding within the upcoming year. The below items are new requests for 2019 and not previously listed in the 5 -year capital plan. Items added since the capital improvement work session on September 18th are highlighted in green. Capital Maintenance (2019 Additions): • $32,500 Council Contribution request from Children's' Garden of Learning for a fence around the front area. • $30,000 for parking system upgrades (biannual expense) • $77,892 for moveable barricades and an accompanying trailer and to provide barriers for vehicle entry into event areas during large special events. • $39,643 is proposed for new police equipment including $7.8K for two mobile speed display units to increase sign visibility and speed awareness; $23.1K to outfit all patrol riffles with a noise suppresser to prevent hearing damage to loss for officers and bystanders; $8.6K for a pole camera device, allowing officers to expand their view of a hostile situation while standing in a safe area. Priority A (2019 Additions): • $2,033,000 for Phase II of the data center project. Phase I of this project replaced data center infrastructure while Phase II of this project will build a secondary offsite data center. • $8,000,000 as a placeholder for the remodel and expansion of the Public Works complex. This amount is not based on a plan design or construction bids. Town of Vail Page 10 December 4, 2018 - Page 122 0 • $93,000 is requested for spare parking equipment to have on hand while components are being repaired for normal wear and tear. This will greatly reduce down time of parking lanes. • $250,000 is proposed for a truck apron to improve safety at the Main Vail roundabout by allowing additional traversable area for large vehicles. • $55,000 in Council contribution funding toward the HD videoboard installed in 2018 at the Gerald R. Ford Amphitheater by the Vail Valley Foundation. This item was added during first reading of the budget ordinance on November 20tH The Capital Projects Fund is currently projected with an ending fund balance of $16.3 million in 2019, and a fund balance of $11.0 million at the end of 2023. This does not include any unfunded projects such as the Municipal complex redevelopment. RETT Fund The RETT Fund supports annual operations of the town's Parks and Recreation department, open space acquisition, Environmental Sustainability, Art in Public Places and the Forest Health. There were no significant increases in any of these operations for 2019. There have been no changes to this document since the capital improvements work session on September 18th. Project additions include the following: Maintenance (2019 Additions): • $80,000 placeholder to potential management and operating expenses of the Nature Center in Ford Park. This is contingent upon a revised lease with Vail Recreation District. Priority A (2019 Additions): • $800,000 in total for path extensions along Vail Valley Drive from the Ford Park Soccer Field parking lot to the east intersection of Ptarmigan Drive • $30,000 is proposed to conduct a turf grass reduction project at Buffehr Creek. • $87,000 is requested for the rehabilitation of the Covered Bridge pocket park. This will include streambank stabilization, riparian enhancements and walking surface replacements. • $50,000 for the continuation of exploring acquisition of open space land, including surveys, titling research and appraisals. The RETT Fund is currently projected with an ending fund balance of $1.3M in 2019, and a fund balance of $1.2 million at the end of 2023. Marketing Fund The Marketing Fund is generated through the collection of annual business license fees. Budgeted license revenue for 2019 of $275,000 is a decrease of 28% from the original 2018 budget due to Short Term Rental licensing converting from a business license to a unique license / registration in March of 2018. The projection is consistent with year-to-date collections in 2018. $275,000 in expenditures will be used toward the Commission on Special Events. On November 6th, Council approved a revised budget presentation for the General Fund and Marketing Fund for 2019. Previously, special events were funded by both the Marketing Fund and the General Fund, however the information was not very transparent to the reader of the fund statements. The revision will show a transfer of funding from the General Fund to the Marketing Fund rather than show funds being spent in two places. The Marketing Fund now Town of Vail Page 11 December 4, 2018 - Page 123 0 displays the amount spent on events, including signature and destination events funded by Town Council. This will improve transparency significantly, by displaying all event spending in one fund statement. This style of presentation is not dissimilar from formats used in other municipalities. 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 $937,800 to purchase replacement vehicles and equipment in 2019. 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. Projected fund balance is $1.5M for the end of 2019. Health Insurance Fund This is an internal services fund that manages the town's health insurance plans. Costs are charged back to the town departments and employees through payroll deductions. The town was able to maintain costs in prior years (2013-2016) due to positive claims experience. 2017 and 2018 claims were higher than previous years, and 2019 is anticipated to continue that trend. As a result, the 2019 proposed budget anticipates use of reserves, along with increases to costs for both town departments and employees. Projected fund balance is $3.1 million for the end of 2019. Dispatch Services Fund This is an enterprise fund that manages county -wide 911 emergency services. No new capital projects were proposed for 2019, however the implementation of an upgrade of the Intergraph software currently budgeted in 2018 will carry over into the new year. The 2019 proposed Dispatch Services Fund reflects a surplus of $93,174 resulting in a fund balance of $963,268. Timber Ridge Enterprise Fund The 10 acre property at Timber Ridge is owned by the town, with the eastern half of the property under a ground 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 2019 proposed budget reflects a surplus of $307,431 after payment of all operating expenses, principal and interest owed to the Capital Projects Fund, and $280,701 set aside for capital projects, specifically bathroom and kitchen renovations that were carryovers from the work started in 2018. The improvements are offset by increases in rental revenue. Annual rents will increase 5% upon lease renewals. Timber Ridge is projected to have a fund balance of $1.5 million at the end of 2019. III. ACTION REQUESTED OF COUNCIL Staff requests that Council approve or approve with amendments Ordinance No. 21, Series 2018 upon second reading. Town of Vail Page 12 December 4, 2018 - Page 124 0 Financial Overview The Town of Vail 2019 budget proposal presented in this document reflects the town's vision to be the premier international mountain resort community in a fiscally responsible manner. The 2019 budget proposal assumes a continuation of high service levels within a cautiously optimistic economic forecast. Several areas of spending relate directly to common themes found in both the Council Action Plan and the prior year's Community Survey results. In addition, some of the budget items requested will help align resources and equipment to accommodate added service levels associated with newer capital improvements throughout town. 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. Since 2007 the town has been able to utilize funds with the creation of the Vail Reinvestment Authority district in the Lionshead are and the accompanying Tax Increment Financing (TIF) revenue that is generated from incremental property taxes collected on new development. The various sources of funding for capital projects has enabled the town to cash -fund many projects, however total town reserves of $72.5 million in 2017 will be reduced to $57.2 million in 2018 upon completion of several projects. Reserves will decrease to approximately $53.3 million in 2019 based on the current budget proposal. The town remains debt -free since 2012. General Fund operations for the proposed 2019 budget will result in a surplus of $1,752,784. One-time planning projects for the Civic Area and West Vail master plans totaling $450,000 are proposed to be paid for out of town reserves. Reserves of $715,004 are also proposed to be used to bolster special event funding, such as Spring Back to Vail ($300,000), Snow Days ($300,000), and the Colorado Classic ($110,000). The General Fund fund balance at the end of 2019 is projected at $28.3 million, or 69% of annual revenues. Council's directive for a minimum level of reserves is 30% of annual revenues. REVENUE The town's 2019 budget is funded by a projected $69.4 million net revenue budget. Net revenues exclude inter -fund charges and transfers. 2019 projected revenues are with a decrease of 6.4% from 2018 forecast without the one-time Chamonix sales and Red Sandstone parking garage contributions. 2019 projected revenues are also a 3.7% increase from 2017 actual results. The below chart identifies the various sources of town revenue: 13 December 4, 2018 - Page 125 0 Financial Overview 2019 Budgeted Net Revenue: Property and $69•4M OwnershipTax Lse Tax �1 Ski Lift Tax and 810 Franch se Fees 9% Earnings o"1 Investments 0% Transfer from VRA 4% Real Estate Transfer Tax 9% ~Licenses and Permits 4% Intergovernmenta Revelue bio Transportation Centers Charges for Services 8% Rent, Fines & Misce Igneous LOCAL TAXES: Six revenue sources make up local taxes and generate 71% 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 2019. The $27.1 million of sales tax projected conservatively at an increase of 2% from the 2018 forecast and a 5.8% increase from 2017. 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. While the winter season continues to generate the majority of tax collections, summer growth has outpaced winter for the last two years. 14 December 4, 2018 - Page 126 0 Financial Overview 26.0 , 25.8 24.0 H 22.0 - 20.0 18.0 - 18.0 14.0 - 12.0 10.0 - 8.0 8.0 - 4.8 2.0 - 0.0 Sales Tax Compared with Inflation • • • r� • • • • • • • • • • • • • • • • • • • • • • • • • • • • • NM_ • • • • • • • • • • • • • • • • • • • • • 2008 2009 2010 2011 2012 2013 201i- 2013 2018 2017 2018 2019 ES•tt ES•tt 315.0 300.0 2195.0 270.0 255.0 240.0 225.0 210.0 145.0 180.0 185.0 150.0 133.0 120.0 105.0 90.0 75.0 W.0 4.5.0 30.0 15.0 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 2019 this includes a $3.0M reimbursement for the Red Sandstone parking structure (a total of $9.3 million is projected to be reimbursed for that project over the next 3 years beginning in 2018). The VRA reimbursement in 2019 will represent approximately 4.4% 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 $6.3 million represent 9% of total annual revenues. This is flat with the 2018 forecast and flat with 2017. Property and Ownership Tax of $5.3 million will generate 8% of total revenues for 2019. 2019 revenues are projected to remain flat with 2018 amended based on a non - assessment year and a recent report from the County Assessor's office. During 2018, tax revenue was impacted from a reduction in residential taxes due to the Gallagher Amendment, but was offset by increases in property valuations. The Gallagher Amendment reduced residential taxes by 9.5%, however residential values increased by approximately 10%. Commercial properties were assessed at a 50% increase in valuation, mainly due to new properties coming online and the sale of large commercial properties. The current base mil levy is 4.69 and typically constitutes 10% of the average taxpayer's property tax bill. The Gallagher Amendment will impact the town's property 15 December 4, 2018 - Page 127 0 Financial Overview tax revenues in 2020 by another 10% reduction, or an estimated $540,000 without offsets from increased property valuations. 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. Construction Use Tax collections are estimated at $2.2 million for 2019, a 12.4% increase from 2018 budget. The estimated 12.4% increase is based on a two-year average plus an additional estimate for Lion View, Park Meadows and Launch projects. 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 $5.0 million and $1.1 million, respectively for 2019, representing 9% of the total annual revenue. The town assesses a 4% tax on all lift access tickets 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 1.6% increase over the 2018 amended. 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 $2.6 million or 4% of total revenues in 2019, down 20% from the 2018 amended budget. This revenue source can fluctuate from a few large commercial and residential construction projects. The 2019 projection is based on historical averages plus estimates for the Lion View, Park Meadows, and Launch projects. 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 $2.1 million in 2019. The Business License Fee is restricted by ordinance for marketing and special events, and is recorded in the Marketing Fund. Budgeted revenue for 2019 of $278,000 is a decrease of 28% from the original 2018 budget due to a change in regulation converting Short Term Rental (STR) activity from a business license to a unique registration. With that change in 2018, the fee for an STR registration was reduced to $150 from the prior business license fee of $325. INTERGOVERNMENTAL REVENUE supplies 6%, or $4.3 million of total revenue 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 16 December 4, 2018 - Page 128 0 Financial Overview 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 2019 the E911 board will contribute a total of $803,953 for salary and benefits for the equivalent of two dispatch supervisors, six dispatchers and a systems engineer in the Vail Communications Center. 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 2019 total approximately $866,560. 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 2019 was budgeted based on the prior two year history, at approximately $706,000. 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 $220,000 is budgeted flat with 2018 budget based on information provided by the Colorado Municipal League. TRANSPORTATION CENTERS located at Lionshead and in the Vail Village, the parking structures generate 8% of total revenues and are budgeted at $5.4 million for 2019. This is a 3.9% increase from 2018 forecast and a 10.7% increase from 2017 actuals (a lower than average year). Daily parking fees and parking passes during ski season are the largest sources of this revenue. This budget proposal includes an estimate for overnight summer parking based on 2018 experience and a nominal amount of pass sales for the new Red Sandstone structure. 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 then return. EXPENDITURES The town's expenditure budget for 2019 is $72.3 million excluding inter -fund transfers and charges. This is a 38.3% decrease from the 2018 amended budget, mainly due to a decrease in capital projects spending. 2018 included large capital projects such as the construction of the Red Sandstone parking garage ($14.7M), final bills for the Chamonix housing development ($4.1M), repairs to Slifer Plaza ($4.4M) and the replacement of seven electric buses ($3.2M). 17 December 4, 2018 - Page 129 0 Financial Overview Seventy percent of the expenditures are to provide municipal services and thirty percent to fund capital improvements. Where the Money Goes 2019 Budgeted Expenditures $72.3M Municipal Services 70.1% Capital Improvements 29.9% Debt Service 0.0% Within municipal services, 26% of spending is for public safety, including 11% for the Vail Police Department, 5% for Vail Public Safety Communications (which is county- wide) and 10% for Fire prevention and suppression. Fourteen 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 10% 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 9% 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. 18 December 4, 2018 - Page 130 c Financial Overview Where the Money Goes Municipal Services by Area _Employee Housing EHOP Program Facilities & Fleeter Maintenance \ 2% 9% Public Safety Communications Transportation & 5% Parking 14% Parks & AIPP 4% Town Officials Public Works& 4% Streets _Administrative 10% �� ~~ Services & Risk Cortributions, Management Marketing, & Special Community 105f Everts Library Development 12% 2% 7% 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. 19 December 4, 2018 - Page 131 c Financial Overview Where the Money Goes Municipal Services by Category Contributions, Marketing, Special Events 12% All Other Operating Expenses 26% 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. 20 December 4, 2018 - Page 132 c Financial Overview 35C - 300 250 200 - 150 100 50 0 BUDGETED POSITIONS BY TYPE (Full-time Equivalent Positions) 2010 2011 2012 2013 2014 2015 2018 2017 2018 2019 ['Full -Time Regular Base Force •Seasonal and Part -Time Positions ['Fixed -Term and Externally Funded Positions The town's operations are supported by 319.92 full time equivalent (FTE) positions in 2019, up 6.0 from 2018. Of these, 282.13 are full-time regular employees. Included in the requested head count are 2018 catchups for a fulltime asset manager (1.0 FTE) in addition to a fulltime parking equipment technician/irrigation technician converted to fulltime parking technician (0.5). Backfill of the irrigation technician is proposed to be paired with the addition of a maintenance worker (0.5 FTE) to alleviate scheduling issues. The 2019 budget also proposes a placeholder for an Innovation Officer (1.0 FTE) to explore emerging technologies and innovation within the organization and a part time electrical inspector (0.5 FTE) to be offset by savings from contract inspection services. The 2019 budget proposes to convert a fixed term Water Quality Coordinator into a permanent position, resulting in no net increase to headcount. The headcount chart also reflects the addition of a fulltime School Resource Officer to be funded 70% by the Vail Mountain School to be utilized by the local schools. The remaining 30% of this position will be utilized by the town during summer to help with special events coverage. Other shifts in headcount include a seasonal maintenance worker for increased maintenance at Red Sandstone parking structure, the conversion of a seasonal wildland lead firefighter to a fulltime wildland lead/prevention inspector (0.5 FTE), and the conversion of a part-time police administration technician to fulltime (0.5 FTE). SALARY AND WAGES The 2019 budget includes funding for performance based merit increases for full-time employees (up to 4%). In 2018 Council authorized an independent comprehensive review of the town's compensation plan which resulted in the recommendation to make some adjustments for below market ranges. The estimated cost to implement these adjustments is $185,000 (less than 1% of the salary budget) and is included in the proposed 2019 budget. 21 December 4, 2018 - Page 133 0 Financial Overview BENEFIT COSTS Employee benefits are projected at $8.7 million, representing 40.51% of base salary expense for 2019. For full-time employees, benefits average 40.59% of salary and for seasonal employees covered by the town's healthcare, benefits average 39.6% of wages. Seasonal employees without healthcare have a benefits rate of 7.9% of wages. These cost estimates include the impact of the Affordable Care Act. The largest single component of benefit cost is health insurance at 51%. 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. Health care expenditures are recorded through the Health Insurance Fund. The next largest component of the benefits cost is employee pension comprising 35% 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. Medicare 3% Pension 35% Wellness Benefit 2% Worker's Compensation Insurance Life, Disability, 4% and Unemployment Insurance 5% Benefits Costs 2019 $8.7M Health Insurance 51% 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 22 December 4, 2018 - Page 134 c Financial Overview purchased from the Heavy Equipment Internal Services Fund. 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 proposed at $26.8 million in 2019. Real Estate Transfer Tax Fund Projects Annual operating costs in the RETT fund are proposed at $3.4 million. Capital project expenditures are proposed at $4.7 million and include: Vail Valley Drive path extensions from Ford Park to the east intersection of Ptarmigan and Vail Valley Drive, Design for the reconstruction of the nature center, continuation of water quality improvements and stream bank mitigation of Gore Creek, construction of a shelter at Ford Park softball fields, and a pilot program at Buffher Creek Park to reduce turf grass. Additional details are shown in the Real Estate Transfer Tax Fund Five -Year Projection. Capital Project Fund Projects Noteworthy projects for 2019 include: Annual capital maintenance of town facilities, parking structures, technology and streets totaling $4.1M; $115.1K in vehicle expansions including a building inspector vehicle, town engineer vehicle, and a Police Chief vehicle); $77.9Kfor moveable barricades and an accompanying trailer and to provide barriers for vehicle entry into event areas; $2.5M transfer to the Housing Fund for the Vail INDEED program; $2.0M for the second phase of the data center upgrades and remodel; $8.0M for the first phase of the expansion and remodel of the Public Works shop complex„ replacement of Bridge Road bridge ($450K); installation of a snowmelt system at East Meadow Drive ($750K); and drainage improvements in East Vail ($400K). During 2019, the VRA will reimburse the Capital Projects Fund $3.0 M for the Red Sandstone parking structure. This will be reimbursed over the next two years totaling $9.3 million. Additional details are shown in the Capital Projects Fund Five -Year Projection. Housing Fund The Housing Fund was created in 2017 and is reported on a budget basis only to track town housing programs. The Housing Fund is funded by Employee Housing Fee -in -Lieu collections and transfers from the Capital Projects Fund. The 2019 budget includes $2.5M transfer from the Capital Projects Fund for the purchase of deed restrictions. 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 $937,800 to purchase various replacement vehicles and equipment in 2019. 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 a ground 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 23 December 4, 2018 - Page 135 0 Financial Overview Resorts). The 2019 proposed budget reflects a surplus of $307,431 after payment of all operating expenses, principal and interest due to the capital projects fund, and $280,701 set aside for capital projects, specifically bathroom and kitchen renovations that were carryovers from the work started in 2018. Timber Ridge is projected to have a fund balance of $1.5 million at the end of 2019. FUND BALANCES Projected fund balances for all funds at 12/31/19 are $53.3 million compared to $57.2 million projected for the year ending 12/31/18. The ending fund balance of the General Fund is projected at $28.3 million, representing 69% of annual revenues. It is recommended that the General Fund be at least 30% of the budgeted revenues. The Capital Projects Fund and RETT Fund are projected to have ending fund balances of $16.3M and $1.3K, respectively at the end of 2019. BONDED DEBT 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. Annual debt service of approximately $1.1 million is paid by incremental property taxes collected within the district. 24 December 4, 2018 - Page 136 0 Major Revenue Analysis 2019 Proposed Budget 25 December 4, 2018 - Page 137 of 509 % from 2017 % from Forecast 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2018 2018 2019 Actual Actual Actual Actual Actual Actual Actual Actual Actual Budget Amended Forecast Proposed Comments General Sales Tax 16,913,338 17,676,115 19,581,414 20,046,455 21,999,999 23,881,130 25,141,932 25,763,244 25,591,483 26,046,000 26,046,000 26,545,000 27,080,000 2019 proposed ata 2.0% increase from 2018 forecast, or 5.8% increase from 2017 actuals; YTD collections as of September are up 6.8% from 2017; 2018 forecast would end the year up 5.3% from 2017. Forecast is based on YTD actuals plus remainder of year at 2017 levels. -13.8% 4.5% 10.8% 2.4% 9.7% 8.6% 5.3% 2.5% -0.7% 2.0% 1.8% 3.7% 2.0% RETT Tax 2,513,481 6,950,701 4,403,706 5,452,937 4,725,589 6,849,449 6,965,617 6,843,356 6,313,611 6,100,000 6,300,000 6,300,000 6,300,000 2019 flat with 2018 forecast (5 year average annual growth is 3.2%) -72.4% 176.5% -36.6% 23.8% -13.3% 44.9% 1.7% -1.8% -7.7% 4.3% -0.2% -0.2% 0.0% Parking Revenue 4,975,795 5,037,042 4,023,940 3,453,836 4,170,065 4,528,137 4,948,993 5,230,062 4,902,756 5,388,000 5,147,900 5,222,900 5,426,000 2019 based on 2016 actuals (2017 was lower than normal); 2019 also includes summer parking 5.7% 1.2% -20.1% -14.2% 20.7% 17.9% 9.3% 5.7% -6.3% 4.5% 5.0% 6.5% 3.9% based on 2018 actuals and a nominal amount of pass sales at Red Sandstone structure Property & Ownership Tax 4,506,491 4,951,386 5,031,770 4,157,279 4,227,966 4,358,411 4,389,241 4,911,842 4,940,193 5,300,000 5,300,000 5,300,000 5,300,000 Based on preliminary assessor's data; valuations up less than 1%; net tax flat 4.6% 9.9% 1.6% -17.4% 1.7% 0.1% 0.7% 11.9% 0.6% 8.4% 7.3% 7.3% 0.0% In 2020, the town will experience another impact from Gallagher, estimated at $540K reduction Lift Tax Revenue 3,048,011 3,357,717 3,529,125 3,433,686 4,007,908 4,351,624 4,763,956 5,032,970 4,708,765 5,212,600 4,944,200 4,944,200 5,025,000 2019 proposed at a 1.6% increase from 2018 and a 6.7% increase from 2017 actuals -7.0% 10.2% 5.1 % -2.7% 16.7% 15.1% 9.5% 5.6% -6.4% 5.0% 5.0% 5.0% 1.6% Assuming an average winter season rather than the lackluster performance of 2017. Construction Fees 1,341,731 1,272,606 985,377 1,333,681 1,404,928 2,608,807 1,949,884 1,552,569 1,628,471 1,619,321 2,719,321 2,719,321 2,061,207 2019 is a 24.2% decrease from 2018 forecast, based on 5 year average plus Launch, Park Meadows -64.7% -5.2% -22.6% 35.3% 5.3% 4.4% -25.3% -20.4% 4.9% 8.2% 67.0% 67.0% -24.2% and Lion View projects; 2018 YTD collections of $2.5M is trending up 77% from prior year Construction Use Tax 713,582 1,103,119 721,002 1,221,734 1,360,585 1,803,853 2,220,168 1,688,841 1,740,754 1,975,900 3,600,000 3,600,000 2,220,000 2019 based on two year average plus estimated collections from Lion View, Park Meadows 17.3% 54.6% -34.6% 69.4% 11.4% 0.2% 23.1% -23.9% 3.1% 27.9% 106.8% 106.8% 12.4% and Launch projects; 2018 inlcluded $1.9M from Vail Health project Other Taxes 1,545,535 1,711,350 1,806,708 1,672,112 1,735,016 1,829,591 1,886,347 1,812,997 1,803,508 1,878,472 1,878,472 1,921,000 1,878,560 County sales tax (based on TOV sales tax), Road & Bridge, Hwy users revenue, etc. -6.0% 10.7% 5.6% -7.4% 3.8% 5.6% 3.1% -3.9% -0.5% -2.3% 4.2% 6.5% -2.2% Federal / County Grants 203,765 3,785,144 1,596,040 916,067 82,630 474,399 152,193 184,827 169,883 70,000 1,633,406 1,633,406 695,000 2018 includes $700K CDOT Water Quality "TAP" grant; $675K bus grants and $135K state grant N/A 1757.6% -57.8% -42.6% -91.0% -45.6% -67.9% 21.4% -8.1% -95.1% 861.5% 861.5% -57.5% for water quality improvements at PW Shops 2019 federal grant for buses and ERWSD share of Dowd Junction path reconstruction Earnings on Investments 460,234 330,216 539,541 492,015 426,975 674,027 271,896 191,992 563,885 217,698 217,698 217,698 364,981 Based on available fund balance and investment returns assumed at 1.0% -75.0% -28.3% 63.4% -8.8% -13.2% 57.9% -59.7% -29.4% 193.7% -20.6% -61.4% -61.4% 67.7% Rental Income 912,090 862,151 895,872 832,134 918,691 1,044,463 1,028,950 1,019,509 1,027,199 1,064,138 1,064,138 1,064,138 1,092,352 Includes Donovan Pavillion at $330K; employee housing rentals and parking structure leases 4.0% -5.5% 3.9% -7.1% 10.4% 24.2% -1.5% -0.9% 0.8% -0.4% 3.6% 3.6% 2.7% E911 and Interagency Dispatch 1,904,572 1,908,591 1,958,581 1,915,218 1,982,170 1,931,359 1,896,010 1,918,590 2,008,451 2,042,068 2,042,068 2,042,068 2,158,436 Funding by E911 Authority Board and participating agencies 14.9% 0.2% 2.6% -2.2% 3.5% -2.6% -1.8% 1.2% 4.7% 1.5% 1.7% 1.7% 5.7% 2019 Red Sandstone parking garage Vail Reinvestment Authority Transfers - 1,070,365 7,125,196 5,354,864 1,842,286 3,049,280 2,757,637 3,546,063 4,179,718 2,156,000 5,202,023 5,202,023 3,050,000 N/A 565.7% -24.8% -65.6% 65.5% -9.6% 28.6% 17.9% -63.3% 24.5% 24.5% -41.4% Sale of Chamonix Housing Units - 16,742,000 17,693,900 17,693,900 - Project Reimbursment Red Sandstone - 5,800,000 5,800,000 5,800,000 - $4.3M from Vail Resorts; $1.5 from Eagle County School District cost share of RSES parking structure All Other Revenue 4,885,916 7,957,308 6,463,634 4,725,743 4,725,539 7,522,484 9,577,305 7,783,483 7,358,044 5,404,329 6,897,497 7,471,497 6,773,411 In general, this item includes franchise fees, fines and forfeitures, employee portion of healthcare -24.8% 62.9% -18.8% -26.9% 0.0% 59.2% 27.3% -18.7% -5.5% -40.3% -6.3% 1.5% -9.3% 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. It may also include use of Traffic Impact fees or Holy Cross Community Enhancement Funds Total Revenue 43,924,542 57,973,811 58,661,907 55,007,762 53,610,347 64,907,014 67,950,130 67,480,345 66,936,720 87,016,525 96,486,622 97,677,150 69,424,946 % compared to Prior Year -24.3% 32.0% 1.2% -6.2% -2.5% 21.1% 4.7% -0.7% -0.8% 22.4% 44.1% 45.9% -28.9% -6.4% Without one-time Chamonix sales & RSES reimbursement & Fed'I grants 25 December 4, 2018 - Page 137 of 509 Staffing Discussion The budgetary impacts of staffing are reflected in various parts of this entire budget document. In an effort to centralize the conversation, the below is a list of talking points that we will present for discussion. Ultimately, staff is requesting Council's feedback on these proposed items prior to the ordinance readings. 1. Performance-based Merit During the September 18th meeting, Council supported a 4% percent merit increase for the 2019 budget. A 4% merit increase is proposed to prevent a decline in market competitiveness and to continue as an average payer for most employment categories. Below is a comparison of budgeted merit increases compared to actual merit increases: 2. Compensation Study Earlier and as part of the 2018 budget, Council authorized an independent comprehensive review of the town's compensation plan. The overall summery report showed that most pay ranges for the town are at market (+/-5% of market average). However some adjustments were needed to address below market ranges. The estimated cost to implement these adjustments is $185,000 (less than 1% of the salary budget) and is included in the proposed 2019 budget. 3. Enhancement of wellness benefit As pay is only one tool used to attract, retain, and motivate employees, staff also formed a Great Place to Work committee to identify strategies to ensure the town is an employer of choice. One of the recommendations of the committee was to equalize the current wellness benefit, which reimburses full time employees for a Vail ski pass (up to $700), an athletic club membership (up to $450), or cash ($100). Taking effect in November 2019 (as a 2020 benefit), staff recommends converting this program to one that will equalize the wellness benefit by giving the same flat amount to each full time employee as a reimbursement for expenses relating to the improvement of overall employee health and wellness. Included in the 2019 budget is a placeholder of $137,500 to launch and administer this program. The full year cost of the program is estimated at $275,000 compared with $190,000 budgeted in 2018. During 2019 staff will fully define the program terms and eligibility requirements. 4. Headcount Requests A total of 5 FTEs are requested for inclusion in the 2019 Budget. One additional FTE was already in the 2018 budget with funding, but no headcount (Asset Manager). Please refer to pages 25 and 26 for a list of the requests and a ten year history of headcount. The headcount requested ties directly to work plans based on the goals listed in the Council Action Plan. 5. Healthcare The town has been able to stabilize the annual ups and downs of healthcare claims experience coupled with increases in cost. Both the employee and town departments will see an increase in cost, but by using some of the reserves built up during 2013 — 2016, the increase will be less dramatic. The total increase to the town's cost for all benefits in 2019 is 6% from 2018 budget. December 4, 2018 - Page 138 c 2014 2015 2016 2017 2018 YTD Budgeted 3.0% 4.0% 5.0% 4.0% 4.0% Actual 2.9% 2.7% 3.7% 3.7% 2. Compensation Study Earlier and as part of the 2018 budget, Council authorized an independent comprehensive review of the town's compensation plan. The overall summery report showed that most pay ranges for the town are at market (+/-5% of market average). However some adjustments were needed to address below market ranges. The estimated cost to implement these adjustments is $185,000 (less than 1% of the salary budget) and is included in the proposed 2019 budget. 3. Enhancement of wellness benefit As pay is only one tool used to attract, retain, and motivate employees, staff also formed a Great Place to Work committee to identify strategies to ensure the town is an employer of choice. One of the recommendations of the committee was to equalize the current wellness benefit, which reimburses full time employees for a Vail ski pass (up to $700), an athletic club membership (up to $450), or cash ($100). Taking effect in November 2019 (as a 2020 benefit), staff recommends converting this program to one that will equalize the wellness benefit by giving the same flat amount to each full time employee as a reimbursement for expenses relating to the improvement of overall employee health and wellness. Included in the 2019 budget is a placeholder of $137,500 to launch and administer this program. The full year cost of the program is estimated at $275,000 compared with $190,000 budgeted in 2018. During 2019 staff will fully define the program terms and eligibility requirements. 4. Headcount Requests A total of 5 FTEs are requested for inclusion in the 2019 Budget. One additional FTE was already in the 2018 budget with funding, but no headcount (Asset Manager). Please refer to pages 25 and 26 for a list of the requests and a ten year history of headcount. The headcount requested ties directly to work plans based on the goals listed in the Council Action Plan. 5. Healthcare The town has been able to stabilize the annual ups and downs of healthcare claims experience coupled with increases in cost. Both the employee and town departments will see an increase in cost, but by using some of the reserves built up during 2013 — 2016, the increase will be less dramatic. The total increase to the town's cost for all benefits in 2019 is 6% from 2018 budget. December 4, 2018 - Page 138 c 6. Housing Stipend / Allowance Staff is requesting a placeholder of $200,000 to pursue a housing stipend or allowance for eligible employees. While a proposed program has not been defined, other local organizations have provided some solid examples of housing assistance methods successfully resulting in employee retention and employees living nearby. Eagle River Water & Sanitation District (ERWSD) has 50% of employees residing in district -owned units. The other 50% either receives a $300/month housing allowance or has participated in other housing programs such as down payment assistance. As a result, 100% of their employees live in Eagle County. Colorado Dept. of Transportation (CDOT) provides a housing stipend of $500/month for employees in Summit, Eagle, Garfield and Pitkin counties. Pitkin County provides a housing stipend of $125/month. Town of Aspen has 50% of employees in either deed restricted housing or in their rental inventory. The Town of Breckenridge manages a down payment assistance program plus access to 900 deed restricted units for rent. December 4, 2018 - Page 139 0 Full-time Regular Positions Innovation Officer Asset Manager Electrical Inspector Wildland Lead/Fire Prevention Inspector Water Education Coordinator Parking Equipment Technician Maintenance Worker Police Administrative Technician Town of Vail 2019 Proposed Budget Summary of Changes in Personnel From 2018 Original Budget to 2019 Proposed Budget Comments 1.00 Proposed placeholder for Innovation Officer 1.00 2018 catchup of full time asset manager Part time electrical inspector to be offset by savings from contract inspection services Conversion of seasonal wildland lead firefighter to fulltime wildland lead/fire prevention inspector (see offset in seasonal positions below) Conversion of Water Quality Coordinator into a permanent position (see offset in fixed -term positions below) 2018 catchup of fulltime parking equipment tech/irrigation tech converted to fulltime 0.50 parking equipment tech; Backfill of 0.5 FTE irrigation tech to be paired with added maintenance worker (See maintenance worker below) 0.50 Add maintenance worker to be paired with irrigation tech above Conversion of part-time police administrative technician to fulltime (partial grant funding) 0.50 1.00 1.00 0.50 Total Full-time Regular Positions: 6.00 Full-time Externally Funded Positions School Resource Officer 1.00 Add fulltime School Resource Officer to be funded 70% by Vail Mountain School Total Full-time Externally Funded Positions: 1.00 Fixed -Term Positions Water Education Coordinator (1.00) Conversion of Water Education Coordinator into a permanent position (see offset in fulltime positions above) Total Fixed -Term Positions: (1.00) Seasonal Positions Wildland Lead Maintenance Worker (0.50) Convert seasonal wildland lead firefighter to fulltime wildland lead/fire prevention inspector (see offset in fulltime positions above) 0.50 Add winter seasonal maintenance worker for increased maintenance at Red Sandstone Elementary School parking facility Total Seasonal Positions: Total Changes to FTE Count: 6.00 26 December 4, 2018 - Page 140 of 509 TEN-YEAR SUMMARY OF BUDGETED POSITIONS BY DEPARTMENT Department 2009 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2019 Positions Change Full -Time Regular Positions - Funded by TOV Town Officials 6.23 6.23 6.23 5.43 4.43 4.43 4.43 3.43 3.43 3.43 3.43 4.43 1.00 Administrative Services 20.35 20.35 20.35 19.35 19.35 19.40 21.40 24.60 25.10 29.60 29.60 29.60 0.00 Community Development Fire Police and Communications Library Public Works, Streets & Roads, Landscaping Transportation & Parking Fleet Maintenance Facility Maintenance 17.85 17.85 15.85 14.85 13.85 13.85 12.85 13.85 12.85 14.00 15.00 16.50 1.50 21.25 21.25 24.25 24.00 24.00 24.50 25.50 28.50 29.50 30.50 36.50 37.50 1.00 54.50 54.50 55.50 53.75 54.75 54.25 54.25 55.25 56.25 56.25 57.25 57.75 0.50 6.55 6.55 6.55 6.55 6.55 6.55 6.55 6.55 6.55 6.55 6.55 6.55 0.00 30.80 30.80 30.80 30.80 30.80 30.80 34.30 36.30 40.30 40.80 41.80 43.30 1.50 33.00 31.00 31.00 31.00 31.00 31.00 39.50 39.50 47.50 47.00 47.00 47.50 0.50 13.00 12.00 12.00 12.00 12.00 12.00 12.00 11.00 11.00 12.00 12.00 12.00 0.00 20.00 20.00 20.00 20.00 18.00 16.00 16.00 17.00 17.00 17.00 17.00 17.00 0.00 Total Full -Time Regular 223.53 220.53 222.53 217.73 214.73 212.78 226.78 235.98 249.48 257.13 266.13 272.13 6.00 Fixed Term Employees Administrative Services 0.50 1.00 1.00 1.00 1.00 0.00 Community Development 4.00 0.50 0.50 - 1.00 1.00 (1.00) Fire 2.00 2.00 - 0.00 Police and Communications 3.00 1.00 - - - - 1.00 1.00 0.00 Public Works, Streets & Roads, Landscaping 1.50 1.50 1.50 - - - - 0.00 Capital Projects 1.50 - 0.50 0.50 - 0.00 Document Imaging 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00 (Total Fixed -Term 13.00 6.00 3.00 1.00 1.50 2.00 1.00 0.00 2.00 3.00 2.00 1.00 (1.00) Externally Funded Employees Police and Communications 9.00 9.00 10.00 10.00 10.00 10.00 10.00 9.00 8.00 8.00 8.00 9.00 1.00 'Total Externally Funded 9.00 9.00 10.00 10.00 10.00 10.00 10.00 9.00 8.00 8.00 8.00 9.00 1.00 Total Full -Time Employees 245.53 235.53 235.53 228.73 226.23 224.78 237.78 244.98 259.48 268.13 276.13 282.13 6.00 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 0.00 0.00 Administrative Services 1.94 1.94 1.94 1.94 1.94 1.94 1.94 1.69 1.19 2.29 2.29 2.29 0.00 27 December 4, 2018 - Page 141 of 509 TEN-YEAR SUMMARY OF BUDGETED POSITIONS BY DEPARTMENT Department 2009 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Community Development 0.25 0.25 0.00 0.00 0.25 0.25 0.25 0.25 0.00 0.00 0.00 0.00 0.00 Fire 10.20 10.20 10.20 12.70 13.70 13.70 12.70 9.61 10.07 9.00 3.00 2.50 (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 0.00 0.00 Library 1.70 1.70 1.70 1.70 1.70 1.70 1.70 2.20 2.40 2.40 2.40 2.40 0.00 Public Works/ Streets & Roads/Landscaping 12.86 12.86 10.46 10.46 10.94 12.38 9.14 8.64 7.20 8.66 8.66 9.16 0.50 2019 Positions Change Transportation & Parking Fleet Maintenance Facility Maintenance 25.70 27.70 27.46 27.46 27.46 27.46 20.30 19.84 19.00 19.00 20.52 20.52 0.00 0.00 0.25 0.25 0.25 0.25 0.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.38 1.38 1.38 1.38 1.38 1.38 0.92 0.92 0.92 0.92 0.92 0.92 0.00 Total Seasonal / Part -Time 54.03 56.28 53.39 55.89 57.62 59.06 46.95 43.15 40.78 42.27 37.79 37.79 0.00 All FTE's (Full -Time Equivalents) Town Officials 6.23 6.23 6.23 5.43 4.43 4.43 4.43 3.43 3.43 3.43 3.43 4.43 1.00 Administrative Services 22.29 22.29 22.29 21.29 21.29 21.84 23.34 26.29 27.29 32.89 32.89 32.89 0.00 Community Development 22.10 18.60 16.35 14.85 14.10 14.10 13.10 14.10 12.85 15.00 16.00 16.50 0.50 Fire 33.45 33.45 34.45 36.70 37.70 38.20 38.20 38.11 39.57 39.50 39.50 40.00 0.50 Admin 2.00 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 28.00 27.00 28.00 28.00 28.00 28.00 28.00 28.00 28.00 29.00 1.00 Investigation 5.00 5.00 5.00 5.00 5.00 5.00 5.00 6.00 6.00 6.00 6.00 0.00 Records 5.50 5.50 4.75 4.75 4.25 4.25 4.25 4.25 4.25 4.25 4.75 0.50 Dispatch 23.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 0.00 Police and Dispatch Total 66.50 64.50 65.50 63.75 64.75 64.25 64.25 64.25 65.25 65.25 65.25 66.75 1.50 Library 8.25 8.25 8.25 8.25 8.25 8.25 8.25 8.75 8.95 8.95 8.95 8.95 0.00 Public Works, Streets & Roads 45.16 45.16 42.76 41.26 41.74 43.18 43.44 44.94 47.50 49.46 50.46 52.46 2.00 Transportation & Parking 58.70 58.70 58.46 58.46 58.46 58.46 59.80 59.34 66.50 66.00 67.52 68.02 0.50 Fleet Maintenance 13.00 12.25 12.25 12.25 12.25 12.25 12.00 11.00 11.00 12.00 12.00 12.00 0.00 Facility Maintenance 21.38 21.38 21.38 21.38 19.38 17.38 16.92 17.92 17.92 17.92 17.92 17.92 0.00 Capital Projects / Fixed Term (Total FTE's 2.50 1.00 1.00 1.00 1.50 1.50 1.00 0.00 0.00 0.00 0.00 0.00 0.00 299.56 291.81 288.92 284.62 283.85 283.84 284.73 288.13 300.26 310.40 313.92 319.92 6.00 28 December 4, 2018 - Page 142 of 509 Town of Vail Employee Benefits 2017 2018 2019 Actual % Salary Budget % Salary Proposed % Salary Full -Time Regular Employees Fee Based Health Insurance 3,296,134 19.03% 3,758,200 19.45% 3,936,000 19.83% Group Term Life, Disability & Accidental Death 212,085 1.22% 242,500 1.26% 243,313 1.23% Wellness Benefit 97,974 0.57% 114,000 0.59% 13,000 0.07% Lifestyle Account - - 137,500 0.69% Sworn Officer Death and Disability Insurance 111,971 0.65% 118,000 0.61% 133,046 0.67% Subtotal Fee Based 3,718,164 21.47% 4,232,700 21.91% 4,462,859 22.49% Payroll Based Pension Contribution 2,590,725 14.96% 2,890,473 14.96% 2,975,085 14.99% Medicare 242,040 1.40% 258,166 1.34% 265,763 1.34% Workers' Compensation Insurance 301,972 1.74% 285,000 1.48% 291,200 1.47% Unemployment Compensation Insurance 55,706 0.32% 58,000 0.30% 59,500 0.30% Subtotal Payroll Based 3,190,443 18.42% 3,491,639 18.07% 3,591,548 18.10% Total Full -Time Benefits 6,908,607 39.89% 7,724,339 39.98% 8,054,408 40.59% Part -Time and Seasonal Employees Fee Based Wellness Benefit Wellness Benefit - Boards Mini -Med Program Health Insurance 46,848 2.55% 56,000 3.53% 45,000 2.78% 9,100 0.50% 9,100 0.57% 9,100 0.56% 435,294 23.68% 326,800 20.62% 514,000 31.73% Payroll Based Pension Contribution 26,649 1.45% 23,777 1.50% 24,298 1.50% Medicare 27,826 1.51% 22,984 1.45% 23,488 1.45% Workers' Compensation Insurance 32,042 1.74% 20,000 1.26% 20,800 1.28% Unemployment Compensation Insurance 5,911 0.32% 4,755 0.30% 4,860 0.30% Subtotal Payroll Based 92,428 5.03% 71,516 4.51% 73,446 4.53% Total Part -Time and Seasonal Benefits 583,670 31.76% 463,416 29.24% 641,546 39.60% Total Benefits - All Employees 7,492,277 39.11% 8,187,755 39.16% 8,695,954 40.51% 29 December 4, 2018 - Page 143 0 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND Proposed 2017 2018 2018 2018 2019 Actual Original Amended Forecast Budget Revenue Local Taxes: $ 25,591,483 $ 26,046,000 $ 26,046,000 $ 26,545,000 $ 27,080,000 Sales Tax Split b/t Gen'I Fund & Capital Fund 62/38 62/38 62/38 61/39 62/38 Sales Tax 15,831,698 16,149,000 16,149,000 16,149,000 16,790,000 Property and Ownership 4,940,193 5,300,000 5,300,000 5,300,000 5,300,000 Ski Lift Tax 4,708,765 5,212,600 4,944,200 4,944,200 5,025,000 Franchise Fees, Penalties, and Other Taxes 1,108,497 1,151,137 1,151,137 1,151,137 1,142,925 Licenses & Permits 1,763,740 1,747,787 2,952,787 2,952,787 2,343,328 Intergovernmental Revenue 2,308,333 1,980,972 2,579,565 2,579,565 1,977,104 Transportation Centers 4,902,759 5,388,000 5,147,900 5,147,900 5,426,000 Charges for Services 961,364 922,264 964,582 964,582 1,016,123 Fines & Forfeitures 258,095 254,156 254,156 254,156 245,563 Earnings on Investments 208,433 131,000 131,000 131,000 200,000 Rental Revenue 1,027,199 1,064,137 1,064,137 1,064,138 1,092,352 Miscellaneous and Project Reimbursements 276,013 180,000 196,888 196,888 254,000 Total Revenue 38,295,089 39,481,053 40,835,352 40,835,353 40,812,395 Expenditures Salaries 17,362,556 18,794,352 19,268,823 18,679,548 19,319,540 Benefits 6,227,606 6,767,047 6,917,595 6,842,457 7,408,946 Subtotal Compensation and Benefits 23,590,162 25,561,399 26,186,418 25,522,005 26,728,486 Contributions and Welcome Centers 313,288 266,755 270,755 270,755 285,695 All Other Operating Expenses 7,109,609 8,174,208 8,402,598 8,402,598 8,122,932 Heavy Equipment Operating Charges 2,254,344 2,385,076 2,385,076 2,385,076 2,497,629 Heavy Equipment Replacement Charges 676,259 725,926 725,926 725,926 755,279 Dispatch Services 659,571 659,608 659,608 659,608 669,590 Total Expenditures 34,603,233 37,772,972 38,630,381 37,965,968 39,059,611 Revenue Over (Under) Expenditures 3,691,856 1,708,081 2,204,971 2,869,385 1,752,784 Transfer to Marketing & Special Events Fund (1,702,790) (1,682,188) (2,186,120) (2,186,120) (2,467,788) Planning Projects Civic Area/Dobson Master Plan - (125,000) (125,000) (125,000) (125,000) West Vail Master Plan - (350,000) (350,000) (350,000) (325,000) Surplus (Deficit) Net of Transfers & New Programs 1,989,066 Beginning Fund Balance (449,107) (456,149) 208,265 (1,165,004) 27,300,260 27,651,283 29,289,331 29,289,331 29,497,596 Ending Fund Balance $ 29,289,326 $ 27,202,176 $ 28,833,182 $ 29,497,596 $ 28,332,592 As % of Annual Revenues 76% 69% 71% 72% 69% EHOP balance included in ending fund balance - not spendable $ 690,000 $ 30 690,000 $ 690,000 $ 890,000 $ 890,000 December 4, 2018 - Page 144 0 A B C D D1 D1 D2 D3 D4 D5 E F F G H J K K L M N 0 P Q R S T U V W X X Y 2019 Council Contribution Request Spreadsheet TOWN OF VAIL FUNDING REQUEST a 2018 2018 Council -Approved Cash SIGNATURE EVENTS (VAILBRAND) *2018 Non-appli( Bravo! Colorado New York Philharmonic Philadelphia Orchestra Vienna- Berlin Opera and Tosca Academy of St. Martin in the Fields Commissioning Project (New Works Project) Donovan Chamber Music Series (Uncorked) Classically Uncorked Silver Oak & Twomey Series National Repertory Orchestra Vail Jazz Festival Vail Valley Foundation Vail International Dance Festival Vail International Dance Festival- Podcast Hot Summer Nights Whistle Pig Summer Go Pro Mtn Games GRFA Video Board- Capital Burton US Open Fireworks Funding Laser/Drone Show TOTALSIGNATURE EVENTS DESTINATION EVENTS VVF: Colorado Classic Spring Back Snow Days TOTAL DESTINATION EVENTS Donovan for 6 days (36,000) SERVICES (Add Note in 2017 notes that this does not Colorado Ski Museum: Operating Betty Ford Alpine Garden: Operating Betty Ford Alpine Garden: Capital Request Bright Futures Foundation Eagle River Watershed Council EGE Air Alliance High Five Access Media (TV5) Eagle Valley Childcare Eagle Valley Land Trust VVF: Vail Valley Athlete Commission Children's Garden of Learning Vail Mountain Bike Association Eagle River Youth Coalition Friends of Mountain Rescue Red Sandstone Elementary Ski and Snowboard Club Vail Ski and Snowboard Club Vail- Capital Small Champions of Colorado Education Foundation of Eagle County Vail Memorial Park Foundation TOTAL SERVICES 27,500 $2,800 in police support (7 events x $400 each) a 2018 2018 Council -Approved Cash 2016 In -Kind In -Kind 2019 In -Kind Variance to PY 2019 Council ion year Request Recommended 2018 In -Kind Request Recommended Funding 90,193 Cash - 90,193 - Value 78,275 - 30,000 - Donovan for 6 days (36,000) 36,000 Donovan for 3 days ($18,000) 18,000 1,000 - 74,902 4 full day rentals of Donavan, 4 full day rentals of the Grand View 32,000 48,962 - 4,600 27,500 $2,800 in police support (7 events x $400 each) 2,800 - Police coverage, fire support, trash clean up, water meter usage, sandbag distribution, event shuttle, world cup climbing wall ballast 45,000 490,000 Use of Soccer lot, RV lot 27,600 52,015 - 987,640 161,400 110,000 65,000 300,000 - 100,000 - 510,000 65,000 ?quire a new application; they are given annual increase) 44,566 Subsidized rent per lease terms 9,320 69,700 One blue parking spot to be used by the director 1,100 19,000 - 45,450 Use of Donovan Pavilion (1 day for Waterwise Wednesday event) 3,000 75,000 112,000 - 52,015 - 6,060 - 12,800 Snow plow services 5,000 - Radios (to be purchased with PD radios in 2018) 20,000 - 4 days usage of Dobson $1,321 per day 5,284 - 54 single day parking vouchers ($1,350) 1,350 - 1 day usage of Dobson on 2/18 ($1,321) 1,321 50,000 - 486,591 46,375 2019 Requests 2019 Council - Approved 2019 Cash Staff 2019 In -Kind Variance to PY 2019 Council Request Recommended 2018 In -Kind Request Recommended Funding Approved In -Kind Cash Cash Value 97,300 97,300 84,600 100.000 30,000 1,000 100,000 64,900 4,600 30.000 110,000 490,000 52.015 20,000 90,193 90,193 78,275 30,000 1,000 74,902 48,962 4,600 27,500 55,000 490,000 52,015 20,000 1,281,715 1,062,640 78,275 (78,275) Donovan for 4 days ($39,570) 39,570 Donovan for 3 days ($19,785) 19,785 10 full day rentals of Donovan Pavillion ($65,950), waive banner hanging fees at street banners at covered bridge and Lionshead 26,380 Police Support for Hot Summer Nights 2,800 Police Support for Hot Summer Nights 2,800 55,000 Use of Soccer lot, RV lot 20,000 146,335 20,000 110,000 300,000 300,000 110,000 300,000 300,000 65,000 200,000 710,000 710,000 65,000 200,000 55,000 75,000 29,000 100.000 42.000 75,000 112,000 55,000 5,000 10,000 43,264 5,000 2,500 23.500 20.000 500,000 3,000 1,155,264 44,566 69,700 42,000 75,000 112,000 52,015 32,500 5,000 16,000 448,781 Subsidized Rent ($9K) and two Silver Parking Passes ($4,000) 9,000 One blue parking space ($1,250) to be used by the director, 2 designated parking spots in Ford Park ($400) 1,650 (19,000) (3,450) VLMD Marketing Support (6,060) Snow plow services 5,000 19,700 5,000 16,000 4 days usage of Dobson $11,120 per day 5,560 70 single day parking vouchers (Valued at $2,100) 1,620 (50,000) 22,830 (37,810) 31 December 4, 2018 - Page 145 of 509 BB CC DD EE FF GRAND TOTAL: COUNCIL CONTRIBUTIONS IN KIND Vail Junior Hockey - Nov 2016 Tournament/January 2017 Tournament Holiday Skate Festival Skating Club of Vail (July 13-17 & Dec 21-24, 26,27) Special Olympics (Sundays Jan , Feb, Mar '18) Foresight Ski Guides SOS Outreach World Figure Sport Society Round Up River Ranch TOTAL IN KIND GRAND TOTAL: COUNCIL CONTRIBUTIONS 2,004,231 328,945 8 days usage of Dobson unless more are available, 1 day usage of Donovan (not including set-up fees) $22,240 22,240 20,000 2 full days usage of Dobson (Dec 14th/15th OR Dec 21/22) 5,560 8 days usage of Dobson unless there is enough available days ($22,240) 22,240 46 parking coupons for Sundays from 1/4 thru 4/12 not incl. Pres Wkd ($1,380) 1,380 - 2 Blue passes ($2,500) 2,500 25 single day parking passes $750 750 - 2018 Contribution from the VLMD - 50 parking vouchers for Superhero Ski Day ($750) 1,500 20,000 22,240 56,170 2,004,231 328,945 3,146,979.00 2,221,421 290,335 187,750 32 December 4, 2018 - Page 146 of 509 21 days usage of Dobson Arena, parking pass for Hockey Director ($58,380) 22,240 - Applied Through CSE as directed by Council and Staff - 10 days uage od Dobson arena ($27,800) 22,240 - 50 parknig passes for Sundays (1st Sunday in Jan 2019 -end of season) ($1,500) 1,380 - 4 Blue passes ($5,000) 2,500 - 25 single day parking passes 750 - Up to 6 days use of Dobson; Event takes place 9/26-9/29 with set up beginngin 9/24 ($16,680) 5,560 5,560 50 parking vouchers for Superhero Ski Day ($750) 1,500 0 0 56,170 5,560 0 0 3,146,979.00 2,221,421 290,335 187,750 32 December 4, 2018 - Page 146 of 509 2019 Contributions The attached spreadsheet shows the staff recommended funding levels that are included in the first draft of the Town Manager's 2019 budget. Funding is proposed flat from 2018 budget levels, consistent with the towns operating budget increase. New grant applications for signature events and in-kind requests are only required every other year, 2019 being an application year, unless the applicant is requesting new or different levels of funding. 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 are required to submit applications through the Commission on Special Events (CSE), which are due September 24th. Staff has proposed an overall funding amount of $151,500 based on recommendation of the CSE and prior year's funding level. SIGNATURE (VAIL BRAND EVENTS) A. Bravo! Vail CASH REQUEST: $409,200 ($288,661 or 42% increase from prior year) IN-KIND REQUEST: Seven days use of Donovan Pavilion (valued at $46,164) BACKGROUND INFORMATION: Bravo! Vail is requesting a total cash contribution $409,200, an increase from prior year funding of $288,661 (42%). The request includes $224,600 for current concert programs including the New York Philharmonic ($97,300), the Philadelphia Orchestra ($97,300), and the New Works Project ($30,000). New program requests include the debut of a three concert residency of the Chamber Orchestra Vienna -Berlin ($84,600). This will be replacing Academy of St. Martin in the fields for 2019. Bravo! Vail is also requesting an additional $100,000 for their first full opera production that will consist of two performances of Puccini's Tosca. This request represents 20% of the total cost of the new opera program budget. As part of the Tosca performances Bravo! Vail is exploring education programs that will introduce the world of opera to the community. This includes master classes, cast meet and greets, youth performances, backstage tours, and pre -performance talks. Bravo! is also requesting in-kind use of Donovan Pavilion for a total of seven days for the Chamber Series (4 days) and Classically Uncorked Series (3 days). STAFF RECOMMENDATION: Staff recommends a contribution of $288,661, flat with prior year and consistent with the 2019 budget philosophy for departmental operating expenses. This includes $90,193 of funding to both the New York Philharmonic and the Philadelphia Orchestra, $78,275 for Vienna- Berlin, and $30,000 for the new works commissioning project. With Puccini's Tosca opera being an entirely new proposal, staff is deferring the decision to Council. Should Council have a desire to fund the opera programing, funding will come from General Fund reserves. This request is currently not included in the 2019 budget proposal. 33 December 4, 2018 - Page 147 0 Staff also recommends an in-kind contribution of seven days at Donovan Pavilion valued at $59,355. This includes the use of up to six days of Donovan for the Donovan Chamber Music Series and up to three days use of Donovan for the "Uncorked" Series. B. Bravo! Family Concert (National Repertory Orchestra) CASH REQUEST: $1,000 (flat with prior year) BACKGROUND INFORMATION: Each summer season the Orchestra puts on a free family concert at Ford Amphitheater in collaboration with Bravo! Vail. The Orchestra is requesting $1,000 to offset event costs of marketing, instruments and equipment transportation, music and truck rental, and rehearsal costs. STAFF RECOMMENDATION: Staff recommends funding at $1,000 consistent with prior year's funding. This concert has been funded since 2012. C. Vail Jazz CASH REQUEST: $100,000 ($25,098 or 34% increase from prior year) INKIND REQUEST: Ten full day rental of Donovan Pavilion (valued at $65,950), waived banner fees at the covered bridge and Lionshead roundabouts BACKGROUND INFORMATION: Vail Jazz is requesting a total cash contribution of $100,000, an increase from prior year of $25,098 (34%). The contribution will be used to fund more than 75 free and ticketed performances over a 10 -week period in the summer. The increase in funding is requested to support three 25th anniversary special events including a 25th Anniversary Celebration held at a luxury hotel in Vail, an opening night 25th Anniversary Jazz Party, and the Niki Haris `Gospel Prayer Meetin' at Gerald Ford Amphitheater to be promoted on a larger scale than prior years as a stand alone destination event. STAFF RECOMMENDATION: Staff recommends a contribution of $74,902, flat with prior year and consistent with the 2019 budget philosophy for departmental operating expenses. Staff also recommends an in-kind contribution of 4 full day rentals of Donovan valued at $26,380, consistent with prior year. Staff does not recommend waiving the banner hanging fees because that is a hard cost to the town. Should there be a desire to increase funding to Vail Jazz, staff recommends funding the `Gospel Prayer Meetin' event enhancements. Staff does not recommend funding the 25th anniversary event celebrations. D. Vail Valley Foundation (VVF) CASH REQUEST (OPERATING): $99,500, 23% increase from prior year CASH REQUEST (CAPITAL):$110,000 INKIND REQUEST: $60,600 in in-kind services BACKGROUND INFORMATION: The VVF is requesting $99,500 of cash funding for Vail Brand events. This includes Vail International Dance Festival ($69,500) and Hot Summer Nights ($30,000). VVF has also requested in-kind services of $2,800 for Hot Summer Nights, $2,800 for the Whistle Pig concert series, and $55,000 for the Summer GoPro Mountain Games (an increase 34 December 4, 2018 - Page 148 0 of 22% from prior year). The VVF is also requesting $110,000 for the new High Definition (HD) video board at the Gerald Ford Amphitheater. Details for these events requests are included below. Please note the VVF has also requested funding/in-kind for events in the Services Categories detailed in items G and R below. D1. Vail International Dance Festival: The VVF is requesting a 30% increase from prior year funding for a total contribution of $69,500. The increased request is to assist with increased annual costs to run the program due to continued growth for this event over the past 5 years. $65,000 will cover 3% of operating expenses for this program. D2. Hot Summer Nights: The VVF is requesting $30,000 cash funding for Hot Summer Nights series. This is a 9% increase from prior year funding. In addition, VVF is requesting $2,800 in-kind contribution for police presence during Hot Summer Nights, consistent with prior year. D3. Summer GoPro Games: While this event is cash -funded by the CSE ($84,790 in 2018), the VVF is requesting $55,000 of in-kind contribution. D4. Whistle Pig Vail: The VVF is requesting $2,800 in-kind contribution for police presence during New Whistle Pig Vail series which debuted during 2018. D5. Video Installation Capital Request: The VVF is requesting $110,000 reimbursement for the new HD Digital videoboard at Ford Park Amphitheater installed during 2018. The digital screen will enhance the experience of general admission guests, improve recognition of valued partner, donors and sponsors; create new revenue streams through on-screen advertising, and allows for increased ticket revenue. This request was initially presented to Town Council out of cycle in winter 2018 and Council requested that the VVF make this request during the annual funding process. STAFF RECOMMENDATION: Staff recommends cash funding of $53,562 for the Vail International Dance Festival and $27,500 for Hot Summer Nights, flat with prior year and consistent with the 2019 budget philosophy for departmental operating expenses. Determination of in-kind funding will be referred to the Event Review Committee. During 2018, the VVF presented a capital request of $110,000 for a videoboard to Council. Council instructed the VVP to come back during the annual funding process. This request is now being brought back in the appropriate process and staff is deferring the decision to Council. Should Council have a desire to help fund the digital videoboard, funding will come from the Capital Projects Fund. E. Burton US Open Snow Boarding Championships CASH REQUEST: $490,000, flat with prior year INKIND REQUEST: Use of Soccer lot and RV lot BACKGROUND INFORMATION: Highline is requesting $490,000 cash support for the 2018 U.S. Open Snowboarding Championship event, consistent with prior year. Highline is also requesting an in-kind contribution to use the town's Soccer and RV lots. STAFF RECOMMENDATION: Staff recommends cash funding of $490,000, flat with prior year's contribution, and consistent with the 2018 budget philosophy for departmental operating expenses. In-kind funding will be determined by the Commissions on Special Events and the TOV Event Review Committee. 35 December 4, 2018 - Page 149 0 F. Fireworks BACKGROUND INFORMATION: Each year the town allocates specific funding of Fourth of July and New Year's Eve firework shows. This year, staff would also like to propose an additional $20,000 of funding for a drone and/or laser show in case of a fire ban prohibiting Fourth of July fire works during summer 2019. STAFF RECOMMENDATION: The town has currently included $52,015, flat with prior year funding, to the annual operating budget for the fireworks for 2019. The town has also included $20,000 placeholder for a drone/laser show. DESTINATION EVENTS G. Vail Valley Foundation (VVF) Colorado Classic CASH REQUEST: $310,000 (flat with prior year) INKIND REQUEST: $65,000 to be used for police, fire, public works, and community information services. BACKGROUND INFORMATION: The VVF is requesting $310,000 to be used towards the Colorado Classic. This request is contingent upon the VVF and RPM Events agreement renewal to secure Vail as the host city for two stages of the Colorado Classic. During 2018 this event was funded with $110,000 from the General Fund and $200,000 from the Vail Local Marketing District. STAFF RECOMMENDATION: Acknowledging Council's input during the event recap presentation October 16th, staff recommends funding flat with 2018, with the $200,000 VLMD funds to be directed toward marketing and public outreach for the event. H. Highline- Spring Back CASH REQUEST: $300,000 ($200,000 or 67% increase from prior year) BACKGROUND INFORMATION: Highline is requesting $300,000 for the Spring Back to Vail event April 11th - 14th. This event will include two free headlining concerts at Ford Park and additional music at Spring Back LIVE! featuring music throughout Town and on mountain for guests and locals to enjoy. The event will also include an interactive partner expo village, parties and offerings around town and the iconic World Pond Skimming Championships. Spring Back to Vail will coordinate lodging deals encouraging longer, multiple night stays to incentivize guests to choose Vail in the spring and take advantage of a multi -layered event weekend. STAFF RECOMMENDATION: During 2018, this event was funded out of cycle at a higher level than what was allocated by the CSE ($30,000). Vail Resorts also contributed $200,000 in cash toward the 2018 event. Staff defers the funding decision to Council. Should Council decide to fund this event, funding will come from General Fund reserves. This request is currently included in the 2019 budget proposal. I. Highline- Snow Days CASH REQUEST: $300,000 (flat with prior year) 36 December 4, 2018 - Page 150 0 BACKGROUND INFORMATION: Highline is requesting $300,000 for the Vail Snow Days event, December 12th- 15th. This event will be a four day festival in early season and will replicate the revamped 2018 event. Snow Days will include two nights of free headliner concerts at Ford Park. The weekend will kick off with the 2nd annual Pray for Snow Bonfire and Celebration of Snow and set the vibe for a weekend of activities on mountain and throughout town with local restaurants, bars, retailers and galleries with the Savor Vail program. Creating specials and packages with hotels and lodging properties will help round out the opportunities for local businesses to actively be a part of the 2019 Vail Snow Days. STAFF RECOMMENDATION: During 2018, this event was funded out of cycle at a higher level than what was allocated by the CSE ($30,000). Staff defers the funding decision Council. Should Council decide to fund this event, funding will come from General Fund reserves. This request is currently included in the 2019 budget proposal. SERVICES This category funds an aspect of services/expertise that the town does not already provide, supports the TOV physical plant and is appropriate for governmental support. The 2019 budget process includes a discussion with Council to either keep the current definition of Services, or change the policy for funding requests in this category. Currently included in this category is annual operating support of TV5, Colorado Ski and Snowboard Museum, Betty Ford Alpine Gardens and the Eagle Valley Childcare. The town does not require an annual application to be filled out for ongoing operating support, which will be included in the annual budget at a set level each year. Applications are only required for increased or new funding requests. J. Colorado Ski Museum CASH REQUEST (OPERATING): $55,000, $10,400 or 23% increase over prior year INKIND REQUEST: $9,000 in subsidized rent and two silver parking passes (valued at $4,000) BACKGROUND INFORMATION: The Colorado Snowsports Museum and Hall of Fame is requesting a cash contribution of $55,000 for general operating expenses, a 23% increase over prior year. The increased funding requested will be used towards expanded programing in lieu of charging visitors an admittance fee. The expanded programming will include digital scavenger hunts and new weekly presentations with speakers and ski films. In addition the museum is requesting an in-kind contribution of two Silver parking passes. STAFF RECOMMENDATION: Staff recommends funding the in-kind request for subsidized rent ($9,000) and a cash contribution $44,566 flat with prior year, and consistent with the 2019 budget philosophy for departmental operating expenses. The CSE also granted the Colorado Ski Museum $5,000 of funding for Travelogues of the Museum programming. K. Betty Ford Alpine Gardens CASH REQUEST (OPERATING): $75,000, $5,300 or 8% increase over prior year 37 December 4, 2018 - Page 151 0 CASH REQUEST (CAPITAL): $29,000 INKIND REQUEST: 1 Blue parking pass and continued use of 2 designated parking spots in Ford Park. BACKGROUND INFORMATION: The Alpine Garden Foundation is requesting a cash contribution of $75,000 to support the annual operations of the Gardens, an increase of 8% over prior year. In addition, the Gardens are requesting $29,000 for orientation kiosks at the upper and lower gate main entrances as part of an "Interpretive Master Plan" to develop educational messaging through the gardens. The total cost of the master plan is estimated to be $190,000. STAFF RECOMMENDATION: Staff recommends funding the annual operating budget flat with 2018 ($69,700), consistent with the 2019 budget philosophy for departmental operating expenses. Staff also recommends the in kind request of one blue parking pass to be used by the Director as granted in 2018, along with the 2 designated spaces in Ford Park. Staff does not recommend funding the capital request of $29K for orientation kiosks at the main entrances of the Gardens as it is not in alignment with the town's master plan for Ford Park. The CSE also granted the Gardens $20,000 for "The Secret Life of Roots" Programming. L. Bright Futures Foundation CASH REQUEST (CAPITAL): $100,000 BACKGROUND INFORMATION: The Bright Futures Foundation supports survivors of domestic violence and sexual assault in the Vail Valley by empowering individuals and families through prevention, advocacy, crisis intervention and long-term healing services. Bright Futures Foundation is requesting $100,000 cash contribution for a new emergency housing facility to shelter individuals and families fleeing domestic violence and sexual assault. Beginning in 2002, Bright Future was leasing a facility from Eagle County Government for $1 per year. However due to the proximity to airport operations the lease will end in 2018. STAFF RECOMMENDATION: Based on preliminary information gathered, staff recommends waiting for more information regarding a location, finalized construction costs, and funding participation of other municipalities prior to recommending funding at this time. Town of Vail has not previously funded capital requests outside of town boundaries with the exception of $200,000 to the Castle Peak Senior Center in 2014. M. Eagle River Watershed Council CASH REQUEST (CAPITAL): $42,000, 8% decrease from prior year BACKGROUND INFORMATION: Eagle River Watershed Council is requesting a cash contribution of $42,000, an 8% decrease from prior year, to fund water quality monitoring, community education, and river restoration projects. Specifically the contribution will be used towards the Water Quality & Assessment Program ($12,000); Community Pride Highway Cleanup and Eagle River Clean Up ($2,000); and sediment source monitoring and bio -monitoring of Gore and Black Creeks ($14,000). STAFF RECOMMENDATION: Staff recommends funding the $42,000 as requested. 38 December 4, 2018 - Page 152 0 N. Eagle Air Alliance CASH REQUEST: $75,000, flat with prior year BACKGROUND INFORMATION: Eagle Air Alliance is requesting $75,000, flat with prior year, to support flights from the Washington, Phoenix, and Dallas markets. STAFF RECOMMENDATION: Staff recommends funding of $75,000, flat with 2018 and consistent with the 2019 budget philosophy for departmental operating expenses. O. High Five Access Media CASH REQUEST: $112,500 (35% of Comcast franchise fees) BACKGROUND INFORMATION: High Five Access Media is requesting $112,000 (or 35%) of franchise fees the Town of Vail receives annually from Comcast, based on terms of the Comcast franchise agreement with the town. STAFF RECOMMENDATION: Staff recommends funding of $112,000 (or 35%) in franchise fees the Town receives annually from Comcast, consistent with 2018. P. Eagle Valley Childcare (EVC) CASH REQUEST: $55,000, 7% increase from prior year BACKGROUND INFORMATION: The EVC has requested a total of $55,000 of funding for 2019, to be used for operations and to subsidize Town of Vail child and infant care. STAFF RECOMMENDATION: Staff recommends funding of $52,015, flat with prior year and consistent with the 2019 budget philosophy for departmental operating expenses. This childcare provider is an important service used by town employees as the only infant care provider in Vail and supports the Council's focus on a balanced community. Q. Eagle Valley Land Trust CASH REQUEST: $5,000 BACKGROUND INFORMATION: The Eagle Valley Land Trust works to protect and preserve lands, heritage, wildlife habitats, and recreational opportunities. Eagle Valley Land Trust is requesting $5,000 to support their Stewardship and Outreach Program, a program that coordinates the stewardship of existing conservation easements and addressing managements concerns in a collaborative, proactive way; as well as connecting people and raising awareness of the importance of land conservations. Funding will be used to market programs and events ($1,000), prepare and execute the Community Land Connection Hike in Vail ($1,500), and subsidize annual monitoring costs to the five conserved properties within the Town of Vail ($2,500). STAFF RECOMMENDATION: Staff does not recommend funding based on the few number of 39 December 4, 2018 - Page 153 0 properties that require monitoring. Parks department staff are aware of the five properties should a reportable incident occur. R. Vail Valley Athlete Commission (VVF) CASH REQUEST: $10,000 ($3,040 or 65% increase over prior year) BACKGROUND INFORMATION: Vail Valley Athlete Commission is requesting $10,000 to enhance athlete opportunities. This is a 65% increase over 2018 funding. An increase in funding is requested to support the growth in deserving athlete applications received each year which is outpacing the available program funds STAFF RECOMMENDATION: When the town began funding the Vail Valley Athlete Commission it was a valley wide program and many other organizations and municipalities provided financial support. In the last few years, the Town of Vail and VVF are the only organizations funding the Vail Valley Athlete Commission. Although staff believes this is an admirable organization, staff does not recommend funding in 2019 without participation from other municipalities. S. Children's Garden of Learning (CGL) CASH REQUEST (CAPITAL): $43,264 INKIND REQUEST: Snow plowing services (roads only), valued at approximately $6,500 BACKGROUND INFORMATION: Children's Garden of Learning is requesting a total cash contribution of $43,264 to fund building and safety improvements. $32,500 is requested to install a fence around the front on the building. $10,764 is requested to install cameras, a school intercom, and alarm system to ensure the school is safe and can prepared for emergencies. CGL is also requesting in-kind parking lot snow plow services valued at $6,500 consistent with prior years. STAFF RECOMMENDATION: Staff recommends funding $32,500 from the Capital Projects Fund to install a fence around the front of the Children's Garden of Learning Building because of the town's role as "landlord". In addition, staff also recommends the equivalent in-kind contribution of snow plow services (valued at $6,500) as awarded in 2018. Staff does not recommend funding for cameras, intercom, and alarm system as these are considered tenant fixtures and therefore the responsibility of CGL. T. Vail Mountain Bike Association CASH REQUEST: $5,000, flat with 2017 BACKGROUND INFORMATION: The Vail Valley Mountain Bike Association is requesting $5,000 to fund the Adopt a Trail program for 2018. The Vail Valley Mountain Bike Associate along with the U.S Forest Service spearheaded this organization and began to adopt trails in June 2016. Since then then they have been able to provide trail maintenance and restoration to 43 trails countywide, 9 of which are in Vail. STAFF RECOMMENDATION: Staff recommends funding of $5,000 for trail maintenance, consistent with prior year, to be used on trails within or that border the Town of Vail. Funding for this will come from the Real Estate Transfer 40 December 4, 2018 - Page 154 0 Tax Fund. The Adopt a Trail organization services trails that connect to our community that would otherwise have little to no maintenance. U. Eagle River Youth Coalition (ERYC) CASH REQUEST: $2,500 BACKGROUND INFORMATION: Eagle County Youth Coalition is requesting $2,500 to be used to support programs and services provided to Vail residents including youth prevention education, collaboration, parent education, and early intervention services. STAFF RECOMMENDATION: Staff does not recommend cash funding because it is more appropriate for health and human services funding. In prior years the town has approved in-kind requests for this organization.. V. Friends of Mountain Rescue Support (FMRS) CASH REQUEST: $23,500 BACKGROUND INFORMATION: Friends of Mountain Rescue is requesting a cash contribution of $23,500 to fund two training events, a technical rope work training ($16,000) and a waterfall ice climbing and rescue training ($7,500) for 18 VMRG team members. STAFF RECOMMENDATION: Staff recommends funding for the technical rope work training for 18 VMRG members ($16,000). The town considers this organization part of emergency response in our area. W. Red Sandstone Elementary School (RSES) CASH REQUEST: $20,000 BACKGROUND INFORMATION: RSES is requesting $20,000 to purchase additional kits, support annual programing fees and technology for the Science Technology Engineering and Mathematics (STEM) Lab. In 2017, the Town of Vail funded the total cost of the creation of the STEM lab ($29,000). STAFF RECOMMENDATION: Staff does not recommend the funding of this program based on the premise that capital and program support should be provided by the school district with property taxes collected in Vail. In 2018, council contributed funding of $29,000 (100% of the program cost) to RSES to create and establish the STEM Lab as a one time capital contribution. X. Ski and Snowboard Club Vail (SSCV) CASH REQUEST: $500,000 INKIND REQUEST: 4 full days use of Dobson Ice Arena (valued at $5,284) BACKGROUND INFORMATION: Ski and Snowboard Club Vail is requesting $500,000 to be used 41 December 4, 2018 - Page 155 0 towards upgrading the Golden Peak training venue, subject to approval of the US Fire Service. The total cost of the project is estimated at $5,000,000. Expanding the Golden Peak training venue will enable SSCV to begin training two weeks earlier and thus increasing training capacity by nearly 100%. As of June 2018 the SSCV had received $3.8 million in pledge commitments. In addition SSCV is requesting 4 full days use of Dobson to host their Annual Ski and Snowboard Swap. STAFF RECOMMENDATION: This is a significant request that requires more discussion by Council. Staff does not recommend capital funding for facilities not owned by the town. Staff recommends funding the in-kind request for two days (out of four requested) with appropriate approval and coordination with the Vail Recreation District. However, if there are enough available days remaining prior to this event, staff recommends providing the full amount of days. The Ski & Snowboard Club will be responsible for hard costs for use of the Dobson Arena such as set-up, tear -down, cleaning and utilities. Y. Small Champions of Colorado, Inc. CASH REQUEST: $3,000 INKIND REQUEST: 70 parking vouchers to use on nine off peak Sundays during 2018-2019 ski season BACKGROUND INFORMATION: Small Champions of Colorado is requesting a cash contribution of $3,000 to fund one Small Champion to participate in the program during the 2018-2019 season. Small Champion is also request in-kind services for 70 parking vouchers to use on nine off peak Sundays (valued at $2,100). STAFF RECOMMENDATION: Staff recommends in-kind funding consistent with 2018 by providing 54 parking vouchers to be used on winter Sundays, valued at $1,620. Staff does not recommend the $3,000 cash contribution. IN-KIND REQUESTS Z. Vail Junior Hockey Association BACKGROUND INFORMATION: The Vail Junior Hockey Assn. is requesting in-kind funding for 21 days at Dobson valued at $58,380 (3 weekends during November 2019, five days in June, six days for non -hockey related activities, and one day for a Fall Fundraiser). In addition, they are requesting one parking pass for the Hockey Director ($1,100). STAFF RECOMMENDATION: Staff recommends in-kind funding consistent with 2018 by providing 8 days of ice time (out of 21 requested) valued at $22,240, subject to approval and coordination with the Vail Recreation District for the ice time. If there are enough available days at Dobson remaining prior to this event, staff recommends providing the full amount of days. 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. Staff does not support in-kind funding of a parking pass for the Hockey Director. 42 December 4, 2018 - Page 156 0 AA. Skating Club of Vail BACKGROUND INFORMATION: The Skating Club of Vail has requested in-kind funding of 10 days use of Dobson valued at $27,240. STAFF RECOMMENDATION: Staff recommends providing 8 days of ice time (out of 10 requested) valued at $22,240 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. BB. Special Olympics BACKGROUND INFORMATION: The Special Olympics is requesting an in-kind contribution of 50 parking vouchers valued at $1,500 to be used on Sundays beginning January 6, 2019 except for President's Day weekend. STAFF RECOMMENDATION: Staff recommends in-kind funding consistent with 2018 by providing 46 parking vouchers for Lionshead structure only, with one-time entry/exit coupons valued at $1,380. CC. Foresight Ski Guides BACKGROUND INFORMATION: Foresight Ski Guides is requesting four blue parking passes (valued at $5,000) for the 2018- 2019 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 valued at $2,500. DD. SOS Outreach BACKGROUND INFORMATION: SOS Outreach is requesting 25 parking vouchers (valued at $750) for the 2018/19 ski season to be used by program coordinators hauling gear to and from the mountain for the winter skiing and snowboarding programs for underserved youth. STAFF RECOMMENDATION: Staff recommends providing 25 parking vouchers for the 2018/19 ski season to be used by program coordinators, consistent with 2018. EE. World Figure Sport Society BACKGROUND INFORMATION: World Figure Sport is requesting up to 6 days use of Dobson arena, valued at $16,680, for the 2019 World Figure & Fancy Skating Championships & Festival. STAFF RECOMMENDATION: Staff recommends providing 2 days of ice time (out of 6 requested) valued at $5,560 subject to approval and coordination with the Vail Recreation District. The World 43 December 4, 2018 - Page 157 0 Figure Sport Society 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. FF. Roundup River Ranch BACKGROUND INFORMATION: Roundup River Ranch is requesting 50 parking vouchers, valued at $1,500, for Superhero Ski Day. STAFF RECOMMENDATION: Staff recommends providing 50 parking vouchers for the 2018/19 ski season to be used for Superhero Ski Day. 44 December 4, 2018 - Page 158 0 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Increased cost from prior 5 -year plan Project timing changed from prior 5 -year plan Revisions / newly added project 1 * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 Revenue 2% 3% 3% 3% 3% Total Sales Tax Revenue: $ 26,046,000 $ 26,545,000 $ 27,080,000 $ 27,622,000 $ 28,174,000 $ 29,019,000 $ 29,890,000 2019 at 2.0% increase from 2018 forecast (5.1% increase from 2017 actuals); Sales Tax Split between General Fund & Capital Fund 62/38 61/39 62/38 62/38 62/38 62/38 62/38 Sales Tax - Capital Projects Fund $ 9,897,000 $ 10,396,000 $ 10,290,000 $ 10,496,000 $ 10,706,000 $ 11,027,000 $ 11,358,000 Use Tax 3,600,000 3,600,000 2,220,000 1,750,000 1,803,000 1,857,000 1,913,000 2019 based on two year average plus estimated for Lion View, Park Meadows, and Launch Projects; 2020 based on 5 year average then 3% increase Federal Grant Revenue - 675,059 300,000 700,000 - - - 2018 Forecast includes $675K FASTER grant to cover 80% of two buses Other County Revenue 260,302 260,302 - - - - - $260.3K reimbursement for radios from Eagle County Sheriffs Office, Eagle County Health Services District, and Avon Police Department; 2019-2020: $1M ($300K in 2019/ $700k in 2020) Federal grant reimbursement for Bridge Rd Bridge repair Other State Revenue 83,691 218,691 - 525,287 - - - 2018 Forecast includes $135K state grant transferred to CPF from RETT for PW runoff ; $83.7K DOLA grant for license plate readers (2 vehicles) and upgraded police intel sharing software; 2020: $525,287 CDOT bus grant Lease Revenue 159,135 159,135 164,067 164,067 164,067 164,067 164,067 Per Vail Commons commercial (incr. every 5 years); adjusted to remove residential lease revenue ($38K) Sales of Chamonix Housing Development Units 17,693,900 17,693,900 -- - - - Sale of Chamonix Housing Units Project Reimbursement 6,989,416 6,989,416 200,000 00,000 200,000 2018: Red Sandstone parking structure reimbursement with $4.3M from Vail Resorts and $1.5M from Eagle County School District; $50K Use of Holy Cross Community Enhancement Funds to offset project to bury electric lines from Liftside to Glen Lyon Office Building- see corresponding expense below; 2019-2020: $1.1M use of Holy Cross Enhancements funds to be used towards Big Horn Rd and Intermountain during 2018; 2021: $1.5M from traffic impact fee for Vail Health/ Frontage Road Project; 2019-2023 $200K reimbursement from Holy Cross for 2019/2020 Big Horn Rd and Intermountain project Timber Ridge Loan repayment 489,419 489,419 489,342 460,842 463,086 463,043 462,999 $28.5K interest on $1.9M loan to TR; Principal and interest on $8M loan to Timber Ridge Fund Earnings on Investments and Other 38,723 38,723 115,201 114,378 78,326 49,182 82,908 0.7% rate assumed on available fund balance Total Revenue 39,211,586 40,520,645 13,778,610 14,410,574 14,914,479 13,760,292 14,180,974 Expenditures Capital Maintenance 230,000 697,000 Bus Shelters 118,825 118,825 30,000 30,000 30,000 30,000 Annual maintenance; Re -appropriate for repairs to Spruce Way bus shelter and lights; 2020 Lionshead transit center Westbound Bus shelter Parking Structures 695,000 695,000 700,000 795,000 785,000 950,000 2018-2022 Various repairs including deck topping replacement, expansion joint repairs, ventilation, HVAC, plumbing and other structural repairs; 2023 includes $200K for expansion joint replacement Welcome Center Interior 250,000 250,000 - - 100,000 - - 2018: Furniture replacement for Lionshead Welcome Center- current furniture has reached it's 5 year life. This includes paint and built in desks; 2021: Furniture replacement in Vail Village Welcome Center Children's Garden of Learning -Capital 12,800 12,800 32,500 - - - - 2018: Council contribution for a new boiler at the Children's Garden of Learning. The town owns the building; 2019: Council contribution to build a fence around front yard. Vail Valley Foundation- Capital - - 55,000 - - - Traffic Impact Fee and Transportation Master Plan Updates 233,482 233,482 - - - - - 2018: 20 -year Transportation Master Plan to coincide with West Vail Master Plan and Civic Center Master Plan Neighborhood Bridge Repair 689,134 689,134 350,000 - 350,000 - Major Bridge Repair Projects based on bi-annual bridge inspection; 2018: Kinnickinnick (West) Bridge Repair, West Forest Bridge Repair; 2019: Lupine Bridge Repair; 2021: Placeholder based on bridge inspection reports Facilities Capital Maintenance 576,000 576,000 393,000 372,500 523,500 489,500 615,000 In general this line item covers various repairs to town buildings including the upkeep of exterior (roofing, siding surfaces, windows, doors), interior finishes (paint, carpet, etc.), and mechanical equipment (boilers, air handlers, etc.). 2018: Comm Dev kitchen update ($25K), transit offices skylight replacement ($50K); Buzzard Park repairs ($67.5K), PW and bus barn maintenance including window replacement($92K), PW admin carpet replacements ($50K)' library door replacement ($25K); 2019: PW admin heated walkway repair ($50K), PW admin kitchen update ($15K), PW shops and bus barn maintenance including wood siding maintenance and exhaust system replacement ($130K), TM residence roof, skylight, and solar panel ($70K); 2020:PW garage door replacements ($50K), transit station skylight replacement ($50K); 2021: PW shops fire panel replacement ($40K), garage door replacements ($50K), PW boiler replacement ($20K), 2nd phase of transit center skylight replacement ($50K), Buzzard Park repairs ($41 K); 2022: Fire Station interior paint ($35K), Library Skylight maintenance ($150K), PW roof repairs ($50K), Phase 3 of transit center skylight replacement ($50K); 2023: Fire Station II exhaust extraction system $(75K), library air handling replacement ($125), Bus barn gradient tube replacement ($50K) 45 December 4, 2018 - Page 159 of 509 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Increased cost from prior 5-year plan Project timing changed from prior 5-year plan Revisions / newly added project * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 Municipal Complex Maintenance Donovan Park Pavilion 15,000 15,000 138,750 5,000 798,000 755,100 255,000 5,100 335,000 5,100 205,000 5,100 2019: PD window replacement ($80K), PD circulation pump repairs and replacement ($15K), PD elevator drive controls ($44K); 2020: Replace Admin building air handlers ($250K), Comm Dev roof replacement ($125K), Comm Dev interior flooring replacement ($25K), PD balcony repairs ($50K), PD boiler replacement ($45K), replace PD air handling units ($75K), replace PD rooftop units ($125K); 2021:Admin Upper level system installation ($175K), PD Stucco patching and painting ($40K), PD wood siding replacement ($30K); 2022: Replace HR heat system ($100K); 2020: PD locker room and restroom repairs ($50K), Comm Dev window replacement ($100K), Comm Dev interior wall and ceiling maintenance ($30K); 2023: Comm Dev boiler replacement ($100K), Comm Dev air handler replacement ($75K) Annual $5K Maintenance to repair HVAC; 2020 includes HVAC Replacement at Donovan Pavilion Street Light Improvements 147,057 147,057 75,000 75,000 75,000 75,000 75,000 Annual maintenance to street lights; LED light enhancements Capital Street Maintenance 1,220,000 920,000 1,225,000 1,345,000 1,225,000 1,405,000 1,350,000 On-going maintenance to roads and bridges including asphalt overlays, patching and repairs; culverts; 2022/2023 includes Asphalt and Mill overlay ($575K) East Mill Creek Culvert Replacement - - - - - - Replacement of East Mill Creek culvert at Gold Peak and Vail Valley Drive Snowmelt Boilers - - - 500,000 500,000 500,000 500,000 Replacement of 8 boilers (2 per year) Town-wide camera system 140,000 140,000 70,000 22,000 22,000 22,000 22,000 2018-2019 replace Bosch system(30 cameras); $22K Annual maintenance Audio -Visual capital maintenance 18,000 18,000 18,000 18,000 18,000 18,000 18,000 Audio visual, phone and IT equipment for an EOC at the West Vail Fire Station Document Imaging 30,000 30,000 30,000 30,000 30,000 30,000 30,000 Annual maintenance, software licensing, and replacement schedule for scanners and servers. Software Licensing 217,000 217,000 144,410 146,193 147,417 63,665 63,665 2018-2020: Upgrade Microsoft products on all equipment; renewal of licenses; $3K per year increase from original 5 year plan due to additional software products; 2018: Includes Virtual Desktop terminal services replacement; $75K placeholder for Asset Management System in 2018, and $50K per year for 3 years (thru 2021) Thermal Imaging Cameras - 12,000 12,000 - 12,000 12,000 For the purchase of 3 cameras (2019,2020,2022) which will allow firefighters to see through areas of smoke, darkness, or heat barriers Hardware Purchases 150,000 150,000 50,000 350,000 50,000 50,000 50,000 2018: Replacement of 50 workstations; $300K in 2020 for scheduled replacement of larger servers Website and e-commerce 12,000 12,000 12,000 12,000 12,000 12,000 12,000 Internet security & application interfaces; website maintenance; includes $550/month for web hosting svcs Fiber Optics / Cabling Systems in Buildings 62,000 62,000 15,000 15,000 15,000 15,000 2018-2020: Repair, maintain & upgrade cabling/network Infrastructure $15K; 2018: Install fiber optics from data center to CenturyLink; 2019: NWCOG Project THOR Broadband project Meet Me Center $75K Network upgrades 380,000 30,000 - 200,000 30,000 30,000 30,000 Computer network systems - replacement cycle every 3-5 years; 2019: Retrofit networking gear for public access system installed in 2014 $350K; 2020 replacement of switches and routers Phone System 77,220 77,220 - - - - 2018: IPO Phone system replacement ($25.5K), normal replacement of (pads, (phones $20K;phone system; replacement of phones, headsets Public Wi-Fi Systems - - - 250,000 - - - Upgrade/replace public Wi-Fi system initially installed by Crown Castle Business Systems Replacement 338,700 338,700 50,000 - 50,000 50,000 50,000 50,000 2018: $1.3K for final bills for financial statement mule, $160K for sales tasoftware, $90K STsoftware; $19K for Com Dev project Docs software; $38K new bus scheduling on software (approx. operating x costs is $20/yr.);R $30K every other year for parking system upgrades Public Safety System (CAD/RMS Dispatch System) 97,768 97,768 Annual capital maintenance of "County-wide "Computer Aided Dispatch/Records Mgmt. System"; includes patrol car and fire truck laptops and software used to push information to TOV and other agencies; TOV portion of annual Intergraph software maintenance; 2018: Fire and police mobile data computer replacement ($24K); Public Safety Equipment 121,791 121,791 - - - - 2018: Replace existing headsets, vests, and helmets for 6 Police SOU members ($20.5K), Upgrade mass casualty supplies in patrol cars ($5.6K); DOLA grant for License plate readers for two vehicles ($65.3K) upgraded police Intel sharing platform ($18.4K); Replacement of 40 body worn cameras ($12K); 2019: Speed Signs ($7.8K), Rifle noise surpressors ($23.1K), pole camera ($8.6K) Fire Safety Equipment - - 59,000 - - - - 2019: Long Range acoustical device ($50K), personal protective equipment dryer ($9K) Bus Camera System - - 15,000 15,000 - - - Installation of software and cameras in buses; 2019/20 annual capital maintenance of camera replacement, etc. Extrication Equipment 100,000 100,000 - - - - - To purchase updated extrication equipment that will work with newer and more advanced vehicles RHMAEC vehicle and equipment 60,000 60,000 - - - - - TOV's portion of a RHMAEC(Regional Hazardous Materials Association of Eagle County) vehicle and equipment- Eagle county is putting $120K towards this vehicle. rvent Equipment - - - - - - Event trailer and moveable barricades to provide barriers for vehicle entry into event areas Fire engine equipment 50,000 50,000 - - - - - To purchase the necessary fire engine equipment to fully equip 4th fire engine; this will allow this vehicle to be used when other engines our being repaired or in an emergency Total Maintenance 5,811,777 5,161,777 4,082,195 5,892,793 4,263,017 4,477,265 4,062,765 46 December 4, 2018 - Page 160 of 509 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Increased cost from prior 5 -year plan Project timing changed from prior 5 -year plan Revisions / newly added project * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 Priority A Data Center (Computer Rooms) 909,036 909,036 r,033,000 8,000,000 15,000 15,000 15,000 15,000 2018: 1st half of data center equipment (HCI) 2019: 2nd half of hyper -converged infrastructure (HCI) equipment $750K, Data Center remodel at Station 3 $1.2M, Cooling/UPS system upgrade for data center in Muni building $128K Public Works Shops Expansion 150,000 150,000 5,500,000 - - - 2018:$150K Design for PW building remodel; 2019: Expansion and remodel of the Public Works shop complex as outlined in an updated public works master plan (previously completed in 1994). The plan will ensure shop expansions will meet the needs of the department and changing operations, such as electrified buses into the future. The plan will consider a shop building expansion, system upgrades, ADA upgrades, additional employee housing (in various locations including the current administration building), covered cold storage and the expansion of the shop yard foot print to the north, project staging and space, snow dump expansion, Photovoltaic Array as a major GHG emission offset, Frontage Road left turn lane, and hazard mitigations and visual screening Vehicle Expansion 265,000 265,000 115,100 80,000 - - - 2018: Snow Blower ($200K), Landscape architect truck ($30K), Drug Task Force vehicle ($35K); 2019: Police chief vehicle ($39K), building inspector vehicle ($37.1K), Town engineer vehicle ($39K); 2020:2 commander vehicles ($80K) Parking Entry System / Equipment 93,037 93,037 93,000 - 1,400,000 - - - 850,000 Aprocessor, 2018: Ongoing parking equipment maintenance; $75K for conversion of Ford Park gates to automatic ticketing system to enhance Ford Park parking management; 2019: Spare parking system equipment including ticket creator, ticket ticket feeder, circuit boards, power supply modules, print heads ($93K); 2023: New parking equipment Neighborhood Bridge Reconstruction 1,554,106 1,554,106 450,000 - - - 2018/ 2019: Bridge Road Bridge replacements; 2020: Nugget Lane Bridge Reconstruction East Meadow Drive Snowmelt 800,000 800,000 750,000 - - - 2018: Design Snowmelt major repairs from Solaris to Austria House/Covered Bride area to be done at same time as the Slifer Plaza construction. This includes paver removal, snowmelt, asphalt replacements with concrete pavers; 2019: Installation of snowmelt system Main Vail Roundabout - 250,000 400,000 - - - - 3,500,000 - - - 2019: Main Vail Roundabout truck apron Neighborhood Road Reconstruction 54,740 54,740 - - 2018: Continuation of shared drainage project that began in 2015 with ERWSD on Rockledge Rd/Frontage Rd; 2019: East Vail major drainage improvements; 2021: East Vail road Major Drainage Improvements construction ($3.5M), street total reconstruction eliminated (was $9M+) Vail Trail Sidewalk Connection - - 85,000 - Connect Vail sidewalk on Vail Valley Drive in front of Vail Trails Chalet complex Rockfall Mitigation near Timber Ridge 00,000 - - 2019: Rockfall mitigation near Timber Ridge Data Center equipment replacement and generator 300,000 300,000 - - -- - 2018: Replace data center server infrastructure; upgrade and replace emergency generator to increase capacity Lionshead Express Bus Stop Improvements (VRA) 400,000 400,000 - - - - - 2018: Improvements to Lionshead Express Bus stop to allow for West bound stop and turnaround Vail Spa Heated Walk (VRA) 250,000 250,000 - - 2018: Connect the Lion with Vail Spa via heated sidewalks; $43K reimbursement from the Lion with remaining $206K to be reimbursed by VRA Heated walkway between underpass and 1st chair (VRA) 281,432 200,000 - - - - - 2018: Heated walkway between new underpass and 1st chair building Energy Enhancements 87 899 87 899 - - - - _ 2018: Continuation of energy audit enhancements; includes LED lighting project with shared cost of $170K from Holy Cross Pedestrian Safety Enhancements 1,500,000 1,500,000 - - - - - 2018: Lighting for Main Vail roundabouts and West Vail Roundabouts (approved by council on 7/5/16) West Vail Roundabout 350,000 287,000 - -- - - 2018: West Vail roundabout concrete replacement/repair near Marriott Streamside (currently there is exposed re -bar) Library Self -Check System Updates 38,000 38,000 - -- - - 2018: Library replacement kiosk and security gate replacement Chamonix- TOV 230,322 24,500 - -- - - Chamonix contingency- TOV Slifer Plaza/ Fountain/Storm Sewer 4,377,119 4,377,119 - -- - - 2018: Repairs to Silfer Plaza fountain and storm sewers; 2019: Includes placeholder for possible increase in scope West Vail Interchange Sidewalk Repair 325,000 81,432 - -- 2018: To repair sidewalk damage underneath the 1-70 bridge Lionshead Parking Structure Landscape Renovations (VRA) 100,000 100,000 - - - _ _ 2018: Improvements to parking structure landscaping around the eastern areas of the Vail Transportation Center where trees have been lost and planting eroded by years of snow storage Colorado Ski Museum renovation 500,000 500,000 - - - - - 2018: Town contribution toward expansion and remodel of Colorado Ski Museum Radio Equipment replacement/expansion 860,340 860,340 - - - _ _ 2018: Additional Radios for backup radios and crew expansion; related yearly County fees ($10K) included in HEF; Previously $693K budgeted in 2014 for replacement of approximately 59 radios for PW, PD and Fire. Adjusted to only include radios purchased over 12 years ago (in 2008 the town replaced a number of radios; these will not be replaced until 2018) Hybrid Bus Battery Replacement 431,772 431,772 - - - - - 2018: Scheduled replacement placeholder; Estimated life of 6 years; While batteries are passed their lifecycle replacement has not been needed as of yet 47 December 4, 2018 - Page 161 of 509 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Increased cost from prior 5 -year plan Project timing changed from prior 5 -year plan Revisions / newly added project * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 Public Works Building Remodel 300,000 300,000 - - - - - 2018: $300K for PW HVAC (2) Municipal Redevelopment 300,643 300,643 - - - - - 2018: planning of possible future municipal building redevelopment Red Sandstone Parking Structure (VRA) 14,696,953 14,696,953 - - - - - 2018: Construction of 4 level parking structure at Red Sandstone Elementary school, with contributions from Vail Resorts ($4.3M) and Eagle County School District ($1.5M); Remainder to be reimbursed by VRA Chamonix Housing Development 4,083,151 2,290,000 - - - - - 2018: Final construction of the Chamonix town home development project 1-70 Underpass (VRA) 492,990 492,990 - - - - - 2018: The town's portion to complete and pay final bills for the 1-70 underpass East LH Circle pathway to Dobson (VRA) 93,560 93,560 - - - - _ 2018: Planning and Design for project to Improve connection from the E Lionhead bus stop to Dobson originally scheduled in 2016; Project has been moved to unfunded pending the civic center master plan revision Dobson Plaza (VRA) 100,000 100,000 - - - - _ 2018.: Redevelop the center plaza of Dobson for better flow of bus traffic, people traffic (concerts); planning/design originally scheduled in 2016; Project has been moved to unfunded pending the civic center master plan revision Underground Utility improvements 2,188,066 2,188,066 - - - - - 2018: $50K for undergrounding electric between Glen Lyon office building and Liftside- see reimbursement above; $71K for CDOT project; $2.1M for Big Horn Rd and Intermountain Eastern portion projects to be completed in 2018 using Community Enhancement Funds ($1.1M reimbursement from the Holy Cross enhancement funds) Public Works Equipment Wash Down/WQ Improvements 246,967 246,967 - - - - 2018: Exterior wash area for large trucks not safe in the winter; also includes improvement to how the waste water is disposed Total Priority A: 36,360,133 33,973,160 12,576,100 6,995,000 3,515,000 15,000 865,000 Priority B ail Village Streetscape/Snowmelt Replacem Fire Truck Replacement - - - - 1,700,000 - "1,1111.11111Replacement 400,00(2.12021: of 18 yr. old streetscape and snowmelt infrastructure in Vail Village - - - - 6,525,000 198,000 - Replacement of Ladder truck purchased in 2000; 2023: Type 3 Truck Replace Buses 3,229,587 3,229,587 - - - - - 2018: 7 buses ordered in 2017 scheduled for replacement and delivery in 2018 ($440.5K per bus); 2020 7 buses for replacement at $875K each, plus 5 charging stations at $50K each, and $30K for additional power chargers. Grant funding is being pursued. Fire Station Alert System - 9,000,000 2019: Fire Station Alerting System to improve response times. This system will work with the Dispatch system and the timing is being coordinated with Eagle River Fire Vail Health / TOV Frontage Road improvements 202,229 202,229 - _ 2018: Design phase of Vail Health/Frontage Rd improvements which includes a 3rd party review, utility potholing and public information based on VH plans for expansion; Improvements would span from LH Parking structure to Municipal building; Design funded by Traffic Impact Fee funds; Original Plan: 2021: VH plans for expansion; Improvements would span from LH Parking structure to Municipal building; $3.6M funded by VRA in 2021, Traffic impact fee ($1.5M), Remaining CPF & Developments ($3.9M) Timing of this project is pending the Civic Center Master Plan Total Priority B: 3,431,816 3,431,816 - 6,723,000 12,450,000 - 2,900,000 Priority C Transit Stop Improvements 650,000 650,000 - - - - 1112018:Transit 2,000,000 _a improvements at Vail Village Transit Center; Add pedestrian improvements, bus turning improvements to West Vail Arosa bus stop in West Vail; 2023: Transit Stop Improvements to coincide with Timber Ridge Phase II Redevelopment Vail Road Sidwalk Construction - - - - -_ 550,000 2022: Sidewalk construction on Vail Rd. between Beaver Damn and Forest Rd. FBuffeher Cree - - - 1,450,000 — 2,500,000 150,000 i_town 2022: Turn Lane at Buffehr Creek to coincide with Marriott Residence Inn; This turn lane different from the one to be put in by Marriott; project was originally scheduled for 2019 and delayed to 2021 to coincide with the Marriott construction Lionshead Streetscape/Snowmelt Replacement - - - - - - 2023: Replacement of 18 yr. old streetscape and snowmelt infrastructure in Lionshead Guest Services Enhancements/Wayfinding 647,684 647,684 - - - - 2023: Continuation of Guest Service / Wayfinding enhancements outside of VRA district; 2023: $150K for design phase of wide way finding replacement Total Priority C: 1,297,684 1,297,684 - - - 2,000,000 4,650,000 Total Expenditures 46,901,410 43,864,437 16,658,295 19,610,793 20,228,017 6,492,265 12,477,765 Other Financing Sources (Uses) 48 December 4, 2018 - Page 162 of 509 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Increased cost from prior 5 -year plan Project timing changed from prior 5 -year plan Revisions / newly added project * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 Transfer from Vail Reinvestment Authority 5,202,023 5,202,023 3,050,000 (2,500,000) 2,550,000 (2,500,000) 3,650,000 (2,500,000) 50,000 (2,500,000) 50,000 (2,500,000) 2018: $3.5M Red Sandstone, $400K Lionshead Express Bus Stop, $206K Vail Spa heated sidewalk, $100K $500K 1-70 underpass completion $100K LH parking structure improvements, $281K heated walk between ped overpass and First Chair ; 2019: $3.0M Red Sandstone, 2020: $2.5M Red Sandstone, 2021: $3.6M Frontage Road Vail Health; Transfer to Housing Fund (2,573,550) (2,573,550) Transfer to Housing Fund; 1.5M per year Revenue Over (Under) Expenditures (5,061,351) (715,319) (2,329,685) (5,150,219) (4,163,537) 4,818,027 (746,791) Beginning Fund Balance 19,384,700 19,384,700 18,669,381 16,339,696 11,189,477 7,025,940 11,843,967 Ending Fund Balance 14,323,349 18,669,381 16,339,696 11,189,477 7,025,940 11,843,967 11,097,175 49 December 4, 2018 - Page 163 of 509 50 December 4, 2018 - Page 164 of 509 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Increased cost from prior 5 -year plan Project timing changed from prior 5 -year plan Revisions / newly added project * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 Revenue 0% 2% 2% 2% 2% Real Estate Transfer Tax $ 6,430,000 $ 6,430,000 $ 6,300,000 $ 6,410,000 $ 6,535,000 $ 6,665,700 $ 6,799,014 2019 flat with 2018 forecast (5 year average growth is 3.2%) Golf Course Lease 165,000 165,000 166,650 168,317 170,000 171,700 173,417 Annual lease payment from Vail Recreation District; annual increase will be based on CPI until after first 3 years under new lease; then revenue share potential will be reviewed; Rent income funds the "Recreation Enhancement Account" below Intergovernmental Revenue 235,847 800,847 1,170,000 20,000 20,000 20,000 20,000 2018 Forecast includes $700 CDOT TAP grant awarded in 2017 and will be received in 2018 upon completion on the project in 2018, forecast also includes removal of $135K transferred to CPF for water mitigation runoff grant; $20K from Eagle County for Intermountain Fuels project; 2019-2023: $20K per year for Lottery fund proceeds; 2019 includes $150K reimbursement from ERWSC and $1M from Eagle County for restabilization of Down Junction Project Reimbursements 19,684 19,684 - - - - - 2018: $6K Contribution from the Nature Conservancy for Intermountain Fuels Project Donations 182,457 182,457 - - - - - $28.4K donation from Vicki and Kent Logan Family Trust for installation of Lawrence Weiner art; $1 K donation from Varlaufer HOA for Roger Staub park maintenance access improvements included in the capital maintenance budget; $1K donation from East West Partners for Sole Power prizes; $2.1K use of Sole Power Donations Recreation Amenity Fees 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Earnings on Investments and Other 57,759 57,759 43,991 9,222 6,563 15,252 1,600 0.7% rate assumed; 2019:$32K Reimbursement from bag fee collections for Clean -Up Day and America Recycles Day. Total Revenue 7,100,747 7,665,747 7,690,641 6,617,538 6,741,562 6,882,652 7,004,031 Expenditures Operations Forest Health Management 269,723 269,723 296,311 302,181 308,207 314,338 320,600 Operating budget for Wildland Fire crew; 2019 Added .5 FTE for wildlandlead Annual Park and Landscape Maintenance 1,705,895 1,705,895 1,712,030 1,746,271 1,781,196 1,816,820 1,853,156 Ongoing path, park and open space maintenance, project mgmt. Management Fee to General Fund (5%) 321,500 321,500 315,000 320,500 326,750 333,285 339,951 5% of RETT Collections - fee remitted to the General Fund for administration Tree Maintenance 65,000 65,000 65,000 65,000 66,300 67,600 69,000 On going pest control, tree removal and replacements in stream tract, open space, and park areas Betty Ford Alpine Garden Support Nature Center Operation- Eagle River Watershed Support 69,700 45,450 69,700 45,450 69,700 42,000 70,397 43,260 71,101 :0,000 71,812 72,530 80,000 Annual operating support of the Betty Ford Alpine Gardens; annual increase to follow town's general operating annual increase Nature Center operating costs including $65K Walking Mountains contract and $15K for maintenance and utilities 44,125 45,008 45,908 Annual support of the Eagle River Watershed Council programs with 1% increase for 2017 Public Art- Operating 111,201 111,201 123,456 125,925 128,444 131,012 133,633 Art in Public Places programming Environmental Sustainability 623,263 623,263 673,225 686,690 700,423 714,432 728,720 $3.1K for Sole Power awards and prizes- see corresponding donations above; $6K for two new E - bikes for Town of Vail employee program; Environmental EMS system $34K ($12K re -appropriate from 2017, $22K new funding), $2K Local Climate Resolution approved 12/5, $5K Annual Rocky Mountain Climate Membership; 2019: Water Quality personnel converted from fixed term to fulltime Total Operations 3,211,732 3,211,732 3,376,722 3,440,223 3,506,546 3,574,307 3,643,498 Maintain Town Assets Forest Health VHF Radios 39,388 39,388 - - - - - 2018: 13 VHF radios for Wildland crew ($2,450/each) for incidents outside of Eagle County; Will enable communication with other agencies using this technology such as Summit County Intermountain Fuels Reduction 74,328 74,328 - - - - - Intermountain Fuels Project $63.3K Phase II; Nature Conservancy contribution $6K- See corresponding reimbursement above; Phase!!! ($5K) 50 December 4, 2018 - Page 164 of 509 51 December 4, 2018 - Page 165 of 509 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Increased cost from prior 5-year plan Project timing changed from prior 5-year plan Revisions / newly added project * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 Street Furniture Replacement 25,000 25,000 90,000 90,000 85,000 85,000 85,000 Annual replacement or capital repairs, benches, recycling and bike racks; 2019 includes pedestrian bridge inspection report ($25K), 2020 includes pedestrian bridge recommendations contract ($15K) Rec. Path Capital Maint 110,986 110,986 85,000 87,550 90,177 92,882 95,668 Capital maintenance of the town's recreation path system Park / Playground Capital Maintenance 235,076 235,076 125,000 128,750 132,613 136,591 140,689 Annual maintenance items include projects such as playground surface refurbishing, replacing bear- proof trash cans, painting/staining of play structures, picnic shelter additions/repairs, and fence maintenance; 2018 includes $54K increase for improvements to access into Stab Park Adopt A Trail - - 5,000 - - - - Adopt A Trail Council Contribution for trail in or bordering the Town Betty Ford Alpine Garden - Capital Contribution 38,433 38,433 - - - - - Contribution request to repair ADA pathways ($6K) and upgrade irrigation system ($19K) Total Maintenance 523,211 523,211 305,000 306,300 307,789 314,473 321,357 Priority A Vail Valley Drive Path Extension: Ford Park to Ptarmigan Vail Valley Drive Path Extension: Ptarmigan West to GC Mtn Building al Ford Park: Softball Weather Shelter - - 400,000 - - - - 2019: Extension of Vail Valley Drive path to ease congestion and enhance pedestrian safety - _ 400,000 585,000 67,000 - - - - 2019: Extension of Vail Valley Drive path to ease congestion and enhance pedestrian safety - - - - - - 2019: Shelter at the Ford Park softball fields to provide weather and lighting protection for spectators and players Ford Park Landscape Enhancement: Parking Lot/Sport Central Portal - - - - - - 2019: DRB req'd parking lot plantings and landscape enhancements at Central Portal 'Hot Project to reduce turf grass - - - - - - 2019: Turf grass reduction project at Buffehr Creek. This project will be a pilot example of ways to reduce turf grass in areas across town resulting in water and maintenance savings 30,000 Gore Valley Trail Bridge Replacement - - 300,000 - - - - 2019: Reconstruction of south bridge abutment due to significant scour and replacement of bridge structure Covered Bridge Pocket Park Rehabilitation Nature Center Redevelopment - - - - - - 2019: Streambank stabilization, riparian enhancements, walking surface replacement 262,740 262,740 400,000 - II- 4,000,000 50,00 _ 2018: Temporary Nature Center structure ($95.5K); Research on historical preservation and design ($17.8K); Exterior windows, doors, wood siding and slope roof ($69.8K); 2019: $400K Design for new Nature Center Remodel/Structure; 2022: Construction of new Nature Center Open Space Land Acquisition 150,000 150,000N50,000 300,000 - - - 2018: Acquisition of East Moran streamtract parcel; 2019/2023 $50K for open space surveys, studies, titling, and appraisals Stephens Park Safety Improvements 150,000 150,000 - - - - 2019: Access improvements to include extended sidewalk, new stairs and other site improvements; playground was built in 1990's Gore Valley Trail Realignment - - 50,000 600,000 - - - 2019: Design Gore Valley Trail Realignment at Lionshead gondola; 2020: Gore Valley Trail Realignment Water Quality Infrastructure 2,512,181 2,377,181 1,000,000 100,000 85,000 1,000,000 400,000 60,000 1,000,000 300,000 60,000 - - 2018 Forecast remove $135K for water mitigation at PW from grant for roof runoff supplemented in 2017; 2019-2021 funds to continue water quality improvement to Gore Creek; Stormwater site specific water and water quality construction projects as part of "Restore the Gore" Streambank Mitigation 900,458 900,458 - - 2018: $30K Fishing is Fun grant for Gore Creek riparian habitat improvements; $38,847 Great Outdoors grant for riparian plants near covered bridge and Vail Valley Drive; 2019: Riparian Site specific construction projects for Water Quality Strategic Action Plan Public Art -General program / art 646,585 646,585 60,000 60,000 To purchase sculptures, artwork, art programs and events; remainder is re-appropriated each year to accumulate enough funds. Public Art - Winterfest 352 352 30,000 30,000 30,000 30,000 30,000 Winterfest $30K per year East Vail Water Quality TAPS 1,125,111 1,125,111 - - - - - 2018: East Vail Water Quality Improvements; $700K CDOT TAP grant funding budgeted in $700K- revenue will be rolled in Supp 3 2018 51 December 4, 2018 - Page 165 of 509 52 December 4, 2018 - Page 166 of 509 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Increased cost from prior 5 -year plan Project timing changed from prior 5 -year plan Revisions / newly added project * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 East Vail Interchange Improvements 1,423,960 1,423,960 - - - - - 2018: Continuation of landscaping design and construction of the interchange Dowd Junction repairs and improvements 2,138,515 2,138,515 - - - - - 2018: Re -stabilization of Dowd Junction path; Repairs to culverts, drainage, and preventative improvements; project in cooperation with Eagle River Water and Sand (ERWSC); $150K reimbursement from ERWSC and $1M reimbursement from Eagle County Ford Park Improvements & Fields 262,620 146,220 - - - - _ 2018: Softball field shelter currently undergoing re-evaluation ($116.4) ; Ford Park Soccer Field ADA Route ($55K), East Ford Park special event power ($91.2K) Streamtract Education/Mitigation 103,061 103,061 - - - - _ 2018: Includes water quality and streamtract education, outreach, signage and marketing; water quality personnel Vail Transit Center Landscape 125,000 125,000 - - - - 2018: 'Landscaping at Vail transit center to coincide with construction of additional bus lane at Vail TRC Golf Clubhouse & Nordic Center 118,729 118,729 - - - - - 2018: Completion of Clubhouse and Nordic Center; Chalet Road Sport Courts 38,463 38,463 - - - - - 2018: Acoustic barriers to minimize noise at Chalet Road Sport Courts Soft Surface Trails 168,109 168,109 - - - - - 2018: Trail enhancements to coincide with Open Lands plan discussions Gore Valley Trail Reconstruction Conoco to Donovan 450,000 450,000 - - - - - 2018: Gore Valley Trail Reconstruction between Conoco and Donovan Pavilion North Recreation Path- Sun Vail to Pedestrian Bridge 235,000 235,000 - - - - - 2018: $235K for North Recreation Bike Path reconstruction on North Frontage road between Sun Vail and the pedestrian Bridge to coincide with the Red Sandstone parking garage project Bighorn Park Improvements 13,208 13,208 - - - - - 2018: Drainage repairs and improvements near pavilion $13.2K Ford Park Portal Improvements 23,868 23,868 - - - - - 2018: Continue improvements to Ford Park entry points Seibert Memorial Statue 300,000 300,000 - - - - 2018: Placeholder for Pete Seibert Memorial statue- contingent upon remaining funds to be raised during 2018 budget year Open Lands Plan 404,623 404,623 - - - - - 2018: Continuation of Comprehensive Open Lands Plan Update Booth Creek Park 40,000 40,000 - - - - - 2018: $40K to modify foot traffic pattern in park Total Priority A 11,592,583 11,341,183 3,884,000 2,090,000 1,390,000 4,140,000 90,000 Priority B 18,000 68,000 17,500 410,000 Ford Park Enhancement: Bikes Racks at Sport Courts - - - - - - 2020: Additional 12 space bike racks near restroom/concessions building Ford Park Enhancement: Priority 3 Landscape area - - - - - - 2020: Landscape playground/basketball berm, softball area, frontage rd & east berms, below tennis courts Wildland Fire Shelter - - - 2020: To purchase a wildland shelter safety device Ford Park: Synthetic Turf Replacements - - - - 2020: Scheduled replacement of synthetic turf based on 7 year life expectancy Athletic Field ADA Walkway - - - - - - 2020: Construction of ADA compliant walkway between parking lot and Vail Valley Drive Red Sandstone Park Picnic Shelter - - - - - - 2021: Modest 12'x12' shelter near volleyball court Total Priority B - - - 839,500 50,000 - - Priority C Buffehr Creek Park Safety Improvements - - - - - 240,000 - 2022: Replacement 20 -yr old "catalog" playground equipment with custom build Buffehr Creek Park park picnic shelter - - - - - 60,000 2022: 15'x 25' shelter at existing picnic area Ford Park: Parking lot entry reconfiguration - - - - - - 400,000 2022: Parking lot reconfiguration to improve turning and queuing characteristics of the parking lot entry Library Landscape and reading area - - - - - W 100,000 - 2022: Exterior landscaping and site work enhancements for an outdoor reading area Ellefson Park Safety Improvements - - - - - - 300,000 2023: Replacement 10 -yr old "catalog" playground equipment with custom build Total Priority C - - - - - 400,000 700,000 VRD-Managed Facility Projects Recreation Enhancement Account 305,094 305,094 166,650 168,317 170,000 171,700 173,417 Annual rent paid by Vail Recreation District; to be re -invested in asset maintenance; Golf Clubhouse - - 65,000 - - 40,000 - 2019: Wood trim replacement ($40K), AC and catering kitchen improvements ($30K); 2022: Wood Trim replacement ($40K) 52 December 4, 2018 - Page 166 of 509 53 December 4, 2018 - Page 167 of 509 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX Increased cost from prior 5-year plan Project timing changed from prior 5-year plan Revisions / newly added project * Placeholder items Proposed 2018 2018 Amended Forecast 2019 2020 2021 2022 2023 Athletic Field Restroom/Storage Building - - - - - - 1,000,000 2023: Placeholder for the replacement of existing restroom/concession with new 2000 sq. ft restroom/storage building Golf Course Other 1,007,141 1,007,141 176,396 25,792 61,288 13,679 76,295 2019: parking lot asphalt repairs ($10K), repair asphalt at maintenance building ($3k), replace roof on maintenance building ($161.2K), replace wood trim at maintenance building ($2.7K); 2020: Repair wood trim on maintenance building ($25.8K), 2021:Maintenance building HVAC replacement ($17.7K), furnace replacement ($11.8K), gas fire replacement ($8.9K) ); 2022: parking lot asphalt repairs ($11K), parking lots repairs at maintenance building ($3.3K; 2023: Repaint wood trim ($45K), clubhouse walkway repairs ($12.4k), replace drain pans and curb gutters ($18.8K) Dobson Ice Arena 471,311 471,311 102,943 122,239 2,952 - 53,862 2018: complete pavers and concrete slab replacement ($54K)remodel rink bathrooms and changing rooms ($131.1K), rock wall repair ($10.5K), clean wood structure ($38.2K), replace pumps ($45.9K), redesign and rebuild electrical room ($120.2K); replace windows and heat pumps ($68K); 2019: Repair exterior doors ($96K), window replacement ($7K); 2020: Repair exterior lighting ($22.9K), Repaint and repair exterior wood trim and beams ($9.3K), replace copper piping ($75K); 2021: Exhaust stack repairs ($3K); 2023:Grading and drainage improvements ($9.4K), rock wall replacement ($15K), repairs to brick pavers ($17.9K), replace HVAC ($12.5K) Ford Park /Tennis Center Improvements 157,931 157,931 - 5,015 - 19,762 21,137 2018: Complete replace gutters ($9.3K), remodel bathrooms ($31K), replace lockers ($13.1K), furnace ($13.7K), hot water tank ($7.6K), and base board heaters ($18.6K); Stain wood siding of concessions ($5.6K) and restrooms ($5.6K), $50K for restroom remodel; 2020: Repair exterior doors ($5K); 2022: Replace wood siding and trim ($4.5K), exterior siding of restrooms and concessions replacement ($15.2K); 2023: Clubhouse grading and drainage maintenance ($15.6K), Repairs to exterior doors ($5.5K) Athletic Fields 35,523 35,523 - - 11,659 123,510 - 2018: paint wood structure and exterior trim ($8K), rooftop replacement for restrooms and athletic field ($21.3K), Seal coat and crack fill in parking lot ($6K); 2021: Coat exterior gypsum board ($3.7K), Repaved parking lot ($8K), 2022: Grading and drainage repairs ($136.9K), paint wood trim ($4.5K), paint wood structure ($6.8K) Gymnastics Center 52,089 52,089 - - - 35,470 - Installation of cooling system in 2018 ($52K); 2022: Restroom remodel ($35.5K) Total VRD-Managed Facility Projects 2,029,089 2,029,089 510,989 321,362 245,898 404,120 1,324,710 Total Expenditures 17,356,615 17,105,215 8,076,711 6,997,386 5,500,233 8,832,900 6,079,565 Revenue Over (Under) Expenditures (10,255,868) (9,439,468) (386,070) (379,847) 1,241,329 (1,950,248) 924,466 Beginning Fund Balance 11,142,914 11,142,915 1,703,447 1,317,377 937,530 2,178,859 228,611 Ending Fund Balance $ 887,046 $ 1,703,447 $ 1,317,377 $ 937,530 $ 2,178,859 $ 228,611 $ 1,153,076 53 December 4, 2018 - Page 167 of 509 PRIORITY D - UNFUNDED **Costs are estimates** Technology Infrastructure West Vail Master Plan Municipal Building Remodel Civic Area Plan Implementation Main Vail Round -about Major Reconstruction West Vail Round -about Major Reconstruction Open Lands Plan Implementation Phase II of Timber Ridge redevelopment Community Ice Skating Photovoltaic Infrastructure LionsHead Parking Structure East Entry Improvements Way Finding Kiosks Historical/ Cultural Heritage Dobson Skylights Town of Vail Employee Housing Facility Safety Improvements Ford Park: Artist Residence Cottage Funding Resource Options: Eligible for funding from VRA RETT Capital Projects Fund Description 3,600,000 3,000,000 472,000 25,000,000 3,600,000 1,000,000 Projected Fund Balance by end of 2023: 8,105,471 1,153,076 11,097,175 54 December 4, 2018 - Page 168 of 509 Per Council 7/7/15 keep in unfunded until specific projects identified; Council committed to funding projects that improve our communication with guests and establish Vail as a leader in technology services Previous unfunded list included East LH Circle pathway to Dobson ($1.15M) and Dobson Plaza ($1.45M) Recent paving and 1-70 Underpass project will extend the life of current roundabouts Recent paving and 1-70 Underpass project will extend the life of current roundabouts On hold until Open Lands plan is completed Per TROC board, not within 5 -year plan; Per Council 7/7/15, recent capital improvements have extended life for 7 years Outdoor community ice at some of Vail parks such as Donovan Solar Electric devices to generate electricity 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- will not be funded until the Civic Area Plan is complete Information and wayfinding Kiosks in Lionshead and Vail Village Funding to enhance and promote Vail cultural and historical vitality, education, economic developments Upgrades or removal of Dobson Skylights pending the Civic Area Plan Building improvements to provide and enhance employees with a safe work environment Renovation of existing original farm house into AIPP artist residence studio space; $50K from East West TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE VAIL MARKETING & SPECIAL EVENTS FUND Revenue Business Licenses Transfer in from General Fund Earnings on Investments Total Revenue Expenditures Commission on Special Events (CSE) Education & Enrichment 2017 2018 2018 Actual Budget Amended (if restated) (if restated) (if restated) 2019 Proposed 384,253 $ 1,702,790 3,115 380,000 $ 1,682,188 1,500 275,000 $ 275,000 2,186,120 2,467,788 1,500 3,000 2,090,158 2,063,688 2,462,620 2,745,788 838,250 863,648 151,500 151,500 876,980 893,648 151,500 151,500 Signature Events Bravo! 259,661 289,661 289,661 289,661 Vail Jazz Festival 74,902 74,902 74,902 74,902 Vail Valley Foundation - Hot Summer Nights 27,500 27,500 27,500 27,500 Vail Valley Foundation - Dance Festival 48,962 48,962 53,562 53,562 Vail Valley Foundation - Colorado Classic - - 110,000 110,000 Burton US Open 404,000 404,000 490,000 490,000 Snow Days 40,000 30,000 300,000 300,000 Spring Back to Vail 100,000 100,000 100,000 300,000 Restaurant Week - Pioneer Weekend 10,000 Vail Skating Event - 20,000 Vail Film Festival Activation Fireworks/Laser/Drone Show 52,015 52,015 52,015 52,015 Collection Fee - General Fund Total Expenditures 19,213 20,000 20,000 13,750 2,026,003 2,062,188 2,566,120 2,756,538 Revenue Over (Under) Expenditures 64,155 1,500 (103,500) (10,750) Beginning Fund Balance 259,453 309,952 323,607 220,107 Ending Fund Balance $ 323,607 $ 311,452 $ 220,107 $ 209,357 55 December 4, 2018 - Page 169 0 TOWN OF VAIL 2019 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 Proposed 2017 2018 2018 2019 Actual Budget Amended Proposed $ 3,026,321 $ 3,204,133 $ 3,204,133 $ 3,350,058 38,658 10,000 10,000 10,000 11,683 7,500 7,500 7,900 220,303 130,483 130,483 189,170 3,296,965 3,352,116 3,352,116 3,557,128 Expenditures Salaries & Benefits 1,111,462 1,186,555 1,186,555 1,173,804 Operating, Maintenance & Contracts 1,295,060 1,413,188 1,518,054 1,598,685 Capital Outlay 1,091,774 703,700 847,200 937,800 Total Expenditures 3,498,296 3,303,443 3,551,809 3,710,289 Revenue Over (Under) Expenditures (201,331) 48,673 (199,693) (153,161) Beginning Fund Balance 2,056,329 1,548,913 1,854,998 1,655,305 Ending Fund Balance $ 1,854,998 $ 1,597,586 $ 1,655,305 $ 1,502,144 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEALTH INSURANCE FUND 2017 2018 2019 Actual Budget Proposed Revenue Town of Vail Interagency Charge - Premiums $ 3,700,000 $ 4,085,000 $ 4,450,000 Employee Contributions 729,490 715,000 715,000 Insurer Proceeds - - 20,000 Earnings on Investments 25,484 12,000 25,000 Total Revenue 4,454,974 4,812,000 5,210,000 Expenditures Health Inusrance Premiums 744,670 897,141 1,139,857 HC Reform Fee 18,300 20,500 Claims Paid 3,684,452 4,003,908 4,282,775 Short-term Disability Pay - - Professional Fees 20,000 20,000 20,000 Total Expenditures 4,449,122 4,939,349 5,463,132 Revenue Over (Under) Expenditures 5,852 (127,349) (253,132) Beginning Fund Balance 3,443,806 Ending Fund Balance 3,449,658 3,322,309 $ 3,449,658 $ 3,322,309 $ 3,069,177 56 December 4, 2018 - Page 170 0 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE DISPATCH SERVICES FUND Revenue E911 Board Revenue Interagency Charges Other County Revenues Town of Vail Interagency Charge Earnings on Investments Project Reimbursement Total Revenue Expenditures Salaries & Benefits Operating, Maintenance & Contracts Capital Outlay Total Expenditures Revenue Over (Under) Expenditures Other Financing Sources (Uses) Transfer from Capital Projects Fund Total Financing Sources (Uses) Surplus Net of Transfers & New Programs Beginning Fund Balance Ending Fund Balance 2017 Actual 2018 Budget Proposed 2018 Amended 2019 Proposed $ 776,809 $ 762,176 1,231,642 1,279,892 659,571 659,608 7,511 6,050 $ 762,176 1,279,892 4,981 659,608 6,050 364,000 $ 803,953 1,354,077 669,590 6,168 2,695,527 2,707,726 3,076,707 2,833,788 2,010,382 547,047 304,070 2,149,392 510,569 119,500 2,154,373 2,206,730 521,604 533,884 669,500 - 2,861,499 2,779,461 3,345,477 2,740,614 (165,972) (71,735) (268,770) 93,174 150,000 150,000 (15, 972) (71,735) (268,770) 93,174 1,154,836 864,239 1,138,864 870,094 $ 1,138,864 $ 792,503 $ 870,094 $ 963,268 57 December 4, 2018 - Page 171 0 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE TIMBER RIDGE FUND Revenue Rental Income Other Income Total Revenue Expenditures Operating, Maintenance & Contracts Capital Outlay Total Expenditures Operating Income Non-operating Revenues (Expenses) Interest on Investments Loan Principal Repayment to Capital Projects Fund Interest Payment to Capital Projects Fund Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance 2017 Actual 1,359,914 22,425 1,382,339 503,646 325,716 829,362 2018 Budget 2018 Amended 2019 Proposed 1,471,442 23,487 1,494,929 1,471,442 23,487 1,494,929 1,570,272 19,346 1,589,618 539,545 280,701 820,246 547,545 280,701 828,246 524,144 280,701 804,845 552,977 674,683 666,683 784,773 1,230 (361,769) (127,723) (488,262) 1,866 (367,196) (122,223) (487,553) 1,866 (367,196) (122,223) (487,553) 12,000 (372,704) (116,638) (477, 342) 64,715 187,130 179,130 307,431 965,960 1,005,256 1,030,675 1,209,805 $ 1,030,675 $ 1,192,386 $ 1,209,805 $ 1,517,236 58 December 4, 2018 - Page 172 0 TOWN OF VAIL 2019 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HOUSING FUND Proposed 2017 2018 2018 2019 Actual Original Amended Proposed Revenue Housing Fee in Lieu (balance) $ 3,112,482 $ - $ $ - Housing Fee in Lieu (2017 collections) 316,557 Transfer from Capital Projects Fund (balance) 667,500 - Capital Projects Funding - New 1,124,548 2,573,550 2,500,000 Total Revenue 5,221,087 2,573,550 2,500,000 Expenditures InDEED Program Town of Vail Rental Inventory Solar Vail Housing Development Buy Down Housing Total Expenditures 328,588 328,588 2,500,000 312,000 4,225,000 429,049 7,466,049 2,500,000 2,500,000 Operating Income 4,892,499 (4,892,499) Beginning Fund Balance 4,892,499 Ending Fund Balance $ 4,892,499 $ $ $ 59 December 4, 2018 - Page 173 0 ORDINANCE NO. 21 SERIES OF 2018 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, 2019 THROUGH DECEMBER 31, 2019 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 2019 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, 2019, and ending on the 31st day of December, 2019: FUND AMOUNT General Fund $41,977,399 Capital Projects Fund 19,158,295 Real Estate Transfer Tax Fund 8,076,711 Housing Fund 2,500,000 Vail Marketing Fund 2,756,538 Heavy Equipment Fund 3,710,289 Dispatch Services Fund 2,740,614 Health Insurance Fund 5,463,132 Timber Ridge Enterprise Fund 1,294,187 Total 87,677,165 Less Interfund Transfers (14,355,022) Net Expenditure Budget 73,332,143 Ordinance No. 21, Series of 2018 December 4, 2018 - Page 174 0 3. The Town Council hereby adopts the full and complete Budget and Financial Plan for the 2019 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 20th day of November, 2018. A public hearing shall be held hereon on the 4th day of December, 2018, 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. Dave Chapin, Mayor ATTEST: Tammy Nagel, Town Clerk Ordinance No. 21, Series of 2018 December 4, 2018 - Page 175 0 READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED IN FULL this 4th day of December 2018. Dave Chapin, Mayor ATTEST: Tammy Nagel, Town Clerk Ordinance No. 21, Series of 2018 December 4, 2018 - Page 176 0 8/22/2018 Bravo! Vail Pantzer Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Bravo! Vail First Name of Contact Person : Beth Last Name of Contact Person : Pantzer E-mail Address : bpantzer@bravovail.org Mailing Address : 2271 N Frontage Rd W Ste C City : Vail State : US -CO Zip : 81657 December 4, 2018 - Pa66 177 0 8/22/2018 Telephone Number : 9708274307 Members and Titles of your Governing Board : Greg Walton - Chair, Retired as Founder & CEO, Walton Construction Company LLC Barry Beracha - Vice Chair, Retired as Executive VP & CEO of Sara Lee Bakery Cathy Stone - Vice Chair, Philanthropist Bill Burns - Treasurer, Retired Regional President US Bank Kathleen Eck - Secretary, Real Estate Agent, Slifer Smith & Frampton Ronald Baker - Special Assistant to the President, ISS Facility Services Paul Becker - Retired Investment Specialist Sarah Benjes - Lawyer, Lewis Bess Williams & Weese Doe Browning - Philanthropist John Dayton - Philanthropist Gary Edwards - Presiding Independent Director, Entenrgy Corporation Cookie Flaum - Philanthropist Dan Godec - President, GreenStar Financial Services Harry Gutman - Director KPMG Tax Governance Institute Linda Hart - CEO, Heart Group Inc Alan Kosloff - Chairman, Kosloff & Partners LC Fred Kushner - Medical Director, Heart Clinic of Louisiana Diane Loosbrock - Retired Attorney Shirley McIntyre - Philanthropist Laurie Mullen - Owner, West Vail Liquor Mart Blaine Nelson - Retired, Managing Partner Deloitte LLP Gary Peterson - Vice President of Strategic Initiatives, Steadman Research Institute Steve Pope - 10/13 Communications General Manager of Arizona Local Media Brad Quayle - Entrepreneur Drew Rader - President, Rader Engineering Byron Rose - Retired, Managing Director Morgan Stanley & Co Paul Rossetti - Managing Director, American Securities Adrienne Rowberry - Attorney -Partner, Whitsitt Gross Rowberry LLC Lisa Schanzer - Philanthropist Carole Segal - Philanthropist Rachel Smiley - Owner, Alpine Party Rentals Frank Strauss - Philanthropist Doug Tansill - Private Investor & Financial Consultant, Cover Harbor Partners LLC Fred Tresca - Manager, the Boss Group Organization Mission Statement : Bravo! Vail enriches people's lives through the power of music by: Producing the finest performances by the greatest artists; Fostering music education; Promoting a lifelong appreciation of the arts. Organization fiscal year-end: : 2018-09-30 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Signature Events Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $409,200 In- Kind Request : Usage of Donovan Pavilion for four days of Bravo! Vail's Chamber Series and three days of its Classically Uncorked Series Who currently funds your organization? : Bravo! Vail receives a majority of its funding from individual donors, as well as government agencies including CCI and NEA, foundations, grants, How will the contribution be used? : Bravo! Vail seeks funding from the Town of Vail to ensure the continued vitality of the Festival and internationally renowned musicians, acclaimed soloists, and the most powerful classical masterworks and sensational pops programs are offered to residents and visitors alike. The funding provided by the Town of Vail is vital to Bravo! Vail's ability to serve the community. Orchestral Underwriting: In 2016, Bravo! Vail expanded its orchestral roster to make the summer season a four -orchestra festival. Now, each summer, Bravo! Vail welcomes four of the world's greatest orchestral ensembles performing in 21 concerts as the highlight of its six- week summer festival. These orchestras have become adored by audience members, with the Dallas Symphony Orchestra, The Philadelphia Orchestra, and the New York Philharmonic enthralling audiences new and old each season. Furthermore, in 2019, building on the success and overwhelming support of Bravo! Vail's first international resident chamber orchestra, the Festival will welcome season -opener Chamber Orchestra Vienna -Berlin in its North American debut. Chamber Orchestra Vienna -Berlin features leading members of the Vienna and Berlin Philharmonic Orchestras, two international powerhouses and considered in the top three of European Orchestras. Following a similar format as the Academy of St Martin in the Fields, Chamber Orchestra Vienna -Berlin will conduct December 4, 2018 - Pa§6 178 0 8/22/2018 a three -concert residency at the Gerald R. Ford Amphitheater which is guaranteed to "achieve a unique creative exchange with exciting experiences for both audiences and musicians." For the 2019 Season, Chamber Orchestra Vienna -Berlin is preliminary scheduled for performances between June 20 and 23; the Dallas Symphony Orchestra between June 28 and July 4; The Philadelphia Orchestra between July 5 and July 13; and the New York Philharmonic between July 17 and 24. Each orchestra's concerts are performed at the Gerald R. Ford Amphitheater, combining sensational music with the natural beauty of the Rocky Mountains and contributing to a musical adventure like no other. Every performance integrates the unique style specific to the orchestra, the sounds and histories of a variety of repertoire, and a balance of genres and eras. Alongside these orchestras, an array of acclaimed soloists and guest conductors, many of whom are considered the very best in the world, perform. Soloists, conductors and repertoire under consideration for 2019 include: • Vail debut of German violinist Anne - Sophie Mutter (https://www.anne-sophie-mutter.de/en/) — a four -time Grammy -Award winner and described as a musical phenomenon who for more than 40 years has been a fixture of the international stages of the world's major concert halls (http://www. kirshbaumassociates.com/artist.php?id=anne-sophiemutter&aview=bio). • The return of Jaap van Zweden, New York Philharmonic's new music director • Pianist Yefim Bronfman (http://www.yefimbronfman.com/), pianist Yuja Wang (http://yujawang.com/), violinist Simone Lamsma (http://simonelamsma.com/), pianist Beatrice Rana (http://www.beatriceranapiano.com/) • All five Mozart Violin Concerti with Mutter and Chamber Orchestra Vienna -Berlin • American symphonic works by Steven Stuckey, John Corigliano, Conrad Tao • A screening to live music of Bugs Bunny Bravo's orchestral residences are the fundamental core of the Festival and draw year-round residents, second -home owners and tourists to Vail. According to an independent, third -party survey conducted at Bravo! Vail concerts during the 2017 Season, Colorado residents represented 64% of concert attendees while Texas and Florida residents represented a combined 13% of attendees. In addition, 4% of concert attendees were international guests. Finally, the Festival had a total direct economic impact on the town of $12.5 million. In order to fulfill its mission producing the finest performances by the greatest artists and to continue to advance musical excellence, Bravo! Vail requests support from the Town of Vail for the residencies of Chamber Orchestra Vienna -Berlin, The Philadelphia Orchestra, and New York Philharmonic. The Festival requests $84,600 to support the debut of Chamber Orchestra Vienna -Berlin, as well as $97,300 per orchestra for both The Philadelphia Orchestra and the New York Philharmonic to support the residencies of these staples of the Festival. With the international recognition of Chamber Orchestra Vienna -Berlin, combined with the undeniably extraordinary Anne -Sophie Mutter, Bravo! Vail anticipates its residency to be on par with that of Academy of St Martin in the Fields. Popular support for The Philadelphia Orchestra continues to grow, with its ticket sales rivaling those of the New York Philharmonic. Bravo! Vail's orchestral season concludes each year with the New York Philharmonic's residency, which truly provides the cornerstone of the Festival. These six performances see sell-out crowds, and ticket -buyers travel to Vail, brave inclement weather, and soak in every note played by America's oldest and most storied orchestra. Bravo! Vail recognizes that these requests represent an increase of past funding by the Town of Vail. Each year, the Festival faces increased payment to its orchestra partners as agreed upon in the multi-year agreements, as well as with new, international orchestras such as Chamber Orchestra Vienna -Berlin. Please note, Chamber Orchestra Vienna -Berlin is currently contracted for 2019 only, and Bravo! Vail will be in communication with the town regarding this slot for 2020. Bravo! Vail's request to the Town of Vail represents approximately 12% of estimated total expenses for the Festival to bring its orchestra partners to Vail. Bravo! Vail is incredibly grateful to the Town of Vail for its continued support and makes these increased requests in funding to keep up with the stated rising costs of providing exceptional services and world- class music. Tosca Underwriting: In 2019, Bravo! Vail will undertake an exciting, new endeavor for the Festival, presenting its first ever staged -in -concert, full opera production. With The Philadelphia Orchestra, conductor Yannick Nezet-Seguin, production company Symphony V, stage director James Alexander, and an array of Metropolitan Opera stars and professional choirs, Bravo! Vail will transform the Gerald R. Ford Amphitheater for two productions of Puccini's beloved opera, Tosca. Tosca is one of the most lethal of operas, with none of the central characters, hero or villain, making it to the end alive. It is a thrilling melodrama in which Puccini takes an overtly theatrical tale and makes it astonishingly moving. Tosca is tale of romance over politics; featuring a heroic painter, a despicable ruler and an opera superstar, Tosca herself. Tosca made its Metropolitan Opera premiere on February 4, December 4, 2018 - Pa§6 179 0 8/22/2018 1901 and has been performed at the house 937 times, making it the fifth most produced opera in Met history. The website Operavore recently published the headline "Across the US, Puccini's Tosca' Remains insanely popular." Conductor Yannick Nezet-Seguin is described as "unquestionably one of the world's top five most exciting conductors" and will join Bravo! Vail next season while serving in dual roles as Music Director of both The Philadelphia Orchestra and the Metropolitan Opera. Stage Director James Alexander, with his production company Symphony V, recently worked with Nezet-Seguin and The Philadelphia Orchestra on a production of Tosca for Verizon Hall in May 2018. Alexander call what he does with Nezet-Seguin "theater of a concert." In March 2018, Alexander brought his team to the Gerald R. Ford Amphitheater to initiate a plan for a Tosca production unique to Bravo! Vail. Symphony V will create a dramatic set combining actual platforms and props with virtual projections of custom made images onto two giant LED screens mounted on the walls of the amphitheater that flank the stage. The conductor's podium will be raised and thrust outward from the stage toward the audience, freeing the front stage for the action of the fully costumed cast and two choruses. This will be the first outdoor performance of Tosca. Casting for the principal singers include Jennifer Rowley (https://jenniferrowley.com/), George Gagnidze (http://georgegagnidze.com/), and Yusif Eyvazov (http://yusifeyvazov.com/). Each are internationally renowned opera stars and Met Opera regulars. Soprano Rowley has been described by the New York Times as "a singer of enormous gift and promise" and is acclaimed worldwide for her unforgettable voice and remarkable stage presence. Baritone Gagnidze strengthened his reputation as an outstanding singer -actor with his acclaimed performance of Scarpia in Tosca at the Met, which was screened at cinemas worldwide and published on DVD. Eyvazov has been described as "an exciting tenor whose sound is metallic, stentorian, and markedly Italianate" (Los Angeles Times) who is "clearly destined for great things" (South China Morning Post). Four supporting cast members will be announced at a later date. In addition, two choruses will be engaged and led by Duain Wolfe, the founder and conductor of Colorado Symphony Chorus, Choral Director and conductor of Chicago Symphony Chorus, and past president of Chorus America. Wolfe will create a 32 -member professional adult chorus specific for this Tosca project, along with a 16 -member youth chorus from the Colorado Children's Chorale. This "international opera event" is scheduled for Thursday, July 11 and Saturday, July 13, 2019. Bravo! Vail's production of Tosca is expected to bring new audience to Vail, drawing opera lovers worldwide. Bravo! Vail plans to explore a variety of ticket and lodging package options for visitors with our Vail lodging partners. In addition, the Festival is in the initial stages of exploring educational opportunities for the community around opera and Tosca, which may include master classes, meet and greets, a performance specifically for youth, backstage tours and pre -performance talks. Bravo! Vail will seek to use Tosca and the musicians to connect with local students and adults in an impactful way, introducing them to the world of opera. Bravo! Vail seeks the town's support in the amount of $100,000 ($50,000 per performance) for this project. This request represents 20% of the projected expense budget, which is an incremental increase to the Festival's budget for The Philadelphia Orchestra. The Festival has already received enthusiastic response for this project, with over half of the necessary funding committed. Bravo! Vail appreciates the town's consideration and understands this request represents a large increase of total past funding; however, Bravo! Vail anticipates a large return in the Festival's economic impact on the town, as well as establishing new audience and visitor markets for both the town and the Festival. New Works Project Launched in 2017, the mission of the New Works Project is to nurture the creation of new music by today's most innovative composers and to present the incredible wealth of venerated music by the leading composers of the 20th and 21st centuries. Following the reception to the Festival's 2017 commissioned works, the New Works Project is now an annual undertaking and represents the Festival's dedication to commissioning and presenting new works by high profile international composers each year. In 2019, Bravo! Vail's chamber music will be dominated by the much -anticipated premiere of a commissioned work by Philip Glass (http://philipglass.com/), considered one of the most important composers of his generation (NPR). This work will be Glass' first percussion quartet piece and feature Third Coast Percussion (http://thirdcoastpercussion.com/). This new piece will be between 18 and 28 minutes and premiered during the Festival's Classically Uncorked Series. This series has become increasingly popular and is designed to showcase the past, present and future of chamber music. Additionally, the Festival will present numerous pieces by 20th and 21st century composers, exposing audiences to lesser known composers. The New Works Project has garnered national press recognition for the Festival, including Bravo! Vail being listed as one of the Top 15 Classical December 4, 2018 - Pad@ 180 0 8/22/2018 Festivals by The New York Times in both 2017 and 2018. This exclusive and highly -sought after listing in The New York Times provides great exposure for both the Festival and the Town of Vail itself, and only organizations which are actively commissioning new works are considered for inclusion. In addition, the Festival, and specifically the Classically Uncorked Series, was listed in BBC Music Magazine's top 20 finest concerts and operas in North America. Finally, Bravo! Vail's 2018 New Works Project is featured on New Music USA (https://www.newmusicusa.org/projects/bravo-vails-2018-new-works-project/), which supports and promotes new music created in the United States. The New Works Project, through the commissioning of new works by high profile international composers each year and the presentation of works by living composers, provides major marketing opportunities for Bravo! Vail and by extension the Town of Vail. Bravo! Vail requests $30,000 in support of this project for 2019. How does your request support item 1C of the Contribution Policy (See above) : Bravo! Vail has been a staple of the Vail community for 31 years, annually building upon and enhancing the social, financial, and cultural benefits it provides. Bravo! Vail's request for Town of Vail funding aligns perfectly with the Town's mission to maintain its status as a premiere international mountain resort community. First, the Festival is a major contributor to a vibrant and diverse local economy. The Festival's direct economic impact on the Town of Vail is significant and continues to grow year over year. In 2017, the Festival had a total direct impact of roughly $12.5 million, an approximate 24% increase over 2016, with more than $470,000 in generated tax revenue. The industries most greatly impacted were Food and Beverage at $5.5 million and Lodging and Hotel Expenses at $4.6 million each. Secondly, Bravo! Vail strives to provide the most exceptional services to its guests at all times. Bravo! Vail hosts its concerts in the Vail's finest venues, is focused on producing offerings of only the highest artistic quality, and annually looks at implementing recommendations made through surveys to ensure the community is being served to the best of the Festival's ability. In 2017, the Festival had a Net Promoter Score of 87% and 86% of survey respondents rated their overall satisfaction as 9-10 and 14% as 7-8. The Festival further aligns with the Town of Vail's mission of providing cultural and educational opportunities to residents and visitors alike by offering 21 orchestral concerts and nearly 20 free educational events and concerts throughout the season in the Town of Vail alone. Bravo! Vail benefits the entire community by providing unique programs which no other organization offers, filling the summer season with world-class orchestras, chamber ensembles and soloists in a resort area known primarily for its winter activities. Not only is Bravo! Vail unique in the local community, but also throughout the country as the only festival in North America to host four of the finest orchestras in the world: the Dallas Symphony Orchestra, The Philadelphia Orchestra, the New York Philharmonic, and a rotating international chamber orchestra of the highest caliber. Bravo! Vail continues to build on its history of excellence and garnering international recognition with its lineup of world class orchestras. Stages across Vail have been graced by musicians and conductors of the highest artistic quality and international status including Joshua Bell, Yo Yo Ma, Midori, Jaap Van Zweden, Yannick Nezet-Seguin, Bramwell Tovey, and Yefim Bronfman. Bravo! Vail provides a cultural element during the summer season, increasing Vail's prominence as a summer destination and establishing the town as a year-round destination. With 36% of audience members representing attendees from outside Colorado the opportunity to cultivate these visitors into annual visitors (both during the summer and winter months), second - home owners, or year-round residents is ample. Additionally, Bravo! Vail has significant impact on ensuring the future economic health of the Vail community. According to Bravo! Vail's 2017 survey, 96% of audience members stated that they are likely to return to the Festival and 99% said they are likely to recommend Bravo! Vail to a friend, setting the stage for future tourism. Bravo! Vail's Education and Community Engagement Programs also have a profound impact, reaching thousands of children and adults who might not otherwise have access to such programs. By offering easily accessible and low-cost or free events, the Festival helps to build a healthy and well- balanced community. Finally, Bravo! Vail is committed to sustainable efforts to ensure the environmental health of the community for future generations to enjoy. For instance, the Festival's office culture focuses on recycling and reusing and Bravo! Vail's electronic distribution of event invitations, ticket order confirmations, and use of electronic December 4, 2018 - Pa06 181 0 8/22/2018 auction system have helped reduce paper consumption. Bravo! Vail also makes great effort to collect all copies of its Season Program Book left behind at concerts and redistribute saved copies at future performances. Finally, Bravo! Vail hosts concerts in locations which are easily accessible by public transportation, walking or bike. Please Upload Organization Balance Sheet : Balance Sheet TOV.pdf Please Upload Organization Income Statement : Income Statement TOV.pdf Linked Form : bpantzer@bravovail.org Submission Date : 2018-06-29 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6783779 Last change : 2018-06-29T19:38:10+0000 December 4, 2018 - Pa66 182 0 Assets 01-10102 01-10105 01-10111 01-10112 01-10113 01-10114 01-10122 01-10123 01-10129 01-10131 01-10132 01-10134 01-10135 01-10140 01-10146 01-10150 01-10151 01-10152 01-10155 01-10160 01-10170 01-10172 Total Assets Bravo! Vail Music Festival Operating Balance Sheet - confidential ANB Bank Checking Acct Citywide Banks Operating Reserve USBank Checking Acct Flex Spending Plan Account USB Amex UBS CDARS - Unrestricted ANB Bank CD UBS Cash (stock donation) account Wells Fargo Bank Checking Accoun Petty Cash 457 Deferred compensation Other Receivables Pledges Receivable Prepaid Expenses Accumulated amortization Equipment Festival Piano Leasehold improvements Guild Inventory Accumulated Depreciation Due from - Temporarily Restricted Due from Endowment Liabilities and Fund Balance Liabilities 01-20215 01-20220 01-20223 01-20225 01-20230 01-20231 01-20234 01-20235 01-20239 01-20243 Total Liabilities Fund Balance 01-30280 Total Fund Balance Accounts Payable Accrued Salaries Vacation accrual Unearned Income Flexible Spending Account Payable Daycare Spending Account Payable Employer Match payable 403(B) Plan payable On account 457 Deferred Compensation Oblig. Fund Balance - Operating 5/31/2018 4/30/2018 Page 1 Net change $705.06 $552.48 $152.58 $3,794.40 $602.34 $3,192.06 $2,557,638.32 $2,625,722.38 ($68,084.06) $10,460.84 $10,960.84 ($500.00) $487,374.66 $418,540.99 $68,833.67 $412,624.69 $411,986.47 $638.22 $29,105.96 $29,105.96 $0.00 $13.53 $13.53 $0.00 $8,038.97 $8,038.97 $0.00 $328.00 $328.00 $0.00 $235,935.74 $231,142.86 $4,792.88 $225.00 $225.00 $0.00 $1,143,903.04 $916,903.04 $227,000.00 $143,379.80 $135,012.56 $8,367.24 ($135,349.00) ($135,349.00) $0.00 $472,759.69 $468,609.69 $4,150.00 $58,000.00 $58,000.00 $0.00 $178,069.93 $178,069.93 $0.00 $4,737.90 $4,737.90 $0.00 ($397,127.00) ($397,127.00) $0.00 $441,505.81 $691,505.81 ($250,000.00) $215,288.97 $215,288.97 $0.00 $5,871,414.31 $5,872,871.72 ($1,457.41) $78,979.60 $90,361.88 $11,382.28 $24,006.83 $24,006.83 $0.00 $21,000.58 $21,000.58 $0.00 $13,885.02 $13,935.02 $50.00 $1,339.05 $666.53 ($672.52) $2,291.93 $2,291.93 $0.00 $229.87 $229.87 $0.00 $4,395.58 $5,662.33 $1,266.75 $29,895.80 $32,237.70 $2,341.90 $234,734.74 $229,941.86 ($4,792.88) $410,759.00 $420,334.53 $9,575.53 $5,460,655.31 $5,452,537.19 $5,460,655.31 $5,452,537.19 $8,118.12 $8,118.12 December 4, 2018 - Page 183 0 Bravo! Vail Music Festival Operating Balance Sheet - confidential Page 2 5/31/2018 4/30/2018 Net change Total Liabilities and Fund Balance $5,871,414.31 $5,872,871.72 $1,457.41 December 4, 2018 - Page 184 0 Bravo! Vail Music Festival 2018 Income Statement & Budget Fiscal Year 2018 Fiscal Year 2017 2018 2018 2017 2017 Over/Under 5/31/2018 Budget Projtns PYTD Actuals 2018 Proj Revenue 01-40301 Ticket Sales $1,256,473 $2,017,560 $2,017,560 $1,237,419 $1,996,440 $21,120 01-40302 Soiree Ticket Sales $53,500 $52,000 $56,250 $54,725 $60,800 ($4,550) 01-40303 Gala Auction & Ticket Sales $81,560 $325,000 $325,000 $34,225 $293,339 $31,661 01-40304 Education Income $149,190 $325,145 $185,780 $87,832 $74,638 $111,142 01-40305 Festival Contributions/Gifts $3,832,143 $4,258,000 $3,832,143 $2,986,754 $3,429,788 $402,355 01-40306 Special Project Income $0 $0 $0 $140,200 $145,200 ($145,200) 01-40308 Edu - Tuition $450 $18,600 $18,600 $0 $0 $18,600 01-40309 Program Advertising 5100.090 5175.500 5155.500 $89,083 5152.410 $3,091 01-40310 Guild Dues and Merch Sales $3,840 $20,000 $20,000 $0 $0 $20,000 01-40311 Interest Income/Stock gains $307 $5,500 $1,000 $559 $2,541 ($1,541) 01-40315 Endowment Contribution $0 $270,000 $270,000 $0 $150,000 $120,000 01-40331 Released from Restriction $757,896 $937,896 $937,896 $898,250 $981,053 ($43.157) 01-40333 Edu- Released from Restricti $0 ($215,145) $0 $0 $0 $0 01-40334 Fest Contrib - Released from R $0 ($667,741) $0 $0 $0 $0 01-80355 Investment Gains $0 $1,000 $0 $1,073 $291 ($291) TOTAL REVENUE $6.235.450 $7.523,315 $7.819.729 $5.530.120 $7.286.500 $533.229 Expenses Artistic 5393.568 $3.584.006 $3.589.006 5464.427 $3.560.083 528.923 Concert Operations $234.390 $803.248 $805.248 $225,767 $614.414 $190.834 Education 5140.487 5319.967 5319.967 5108,666 5193,828 5126,139 Marketing 5405.041 5699.950 $718.320 5379.457 5729.899 ($11,5791 Fundraising 5228.817 5620.595 5620.595 $246.439 5508.950 $111.645 Administration 5327.360 5435.815 5474.315 5285.823 5414.786 $59.529 Salaries/Taxes 5631,708 $1.059.734 $1,191,505 5606,862 $1,129,501 $62,004 TOTAL EXPENSES $2.361.371 $7.523.315 $7.718.956 $2.317.441 $7.151.461 5567.495 Extraordinary Expenses 01-50822 Website Redesign $0 $0 $0 $77,145 $87,000 ($87,000) Total Extraordinary Expenses $0 $0 $0 $77,145 $87,000 ($87,000) CONFIDENTIAL Page 1 December 4, 2018 - Page 185 of 509 Bravo! Vail Music Festival 2018 Income Statement & Budget Fiscal Year 2018 Fiscal Year 2017 2018 2018 2017 2017 Over/Under 5/31/2018 Budget Proitns PYTD Actuals 2018 Proi 01-70001 Transfer account $0 $0 $0 ($663,701) $0 $0 In Kind 01-40332 In Kind contributions $213,697 $1,900,000 $1,900,000 $575A78 $1,572,760 $327,240 01-50460 In Kind Expense $213.697 $1,900,000 $1,900,000 $575.478 $1,571760 $327.240 Total In Kind $0 $0 $0 $0 $0 $0 NET SURPLUS/(DEFICIT) $3,874,079 $0 $100.773 $3,799,234 $48,039 $52,734 The 2018 budget included release for restriction in the related revenue accounts, and contra accounts 01-40333 and 01-40334. The 2018 actual and projection will not include these amounts, and will be fully accounted for under account 01-40331. CONFIDENTIAL Page 2 December 4, 2018 - Page 186 of 509 8/22/2018 National Repertory Orchestra Armstrong Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : National Repertory Orchestra First Name of Contact Person : Asa Last Name of Contact Person : Armstrong E-mail Address : asa@nromusic.com Mailing Address : P.O. Box 6336 City : Breckenridge State : US -CO Zip : 80424 December 4, 2018 - Pa0 187 0 8/22/2018 Telephone Number : 9704535825 Members and Titles of your Governing Board : Executive Board: President: Rick Poppe, Centennial, CO Vice President: John Hayes, Highlands Ranch, CO Secretary: Michael Massey, Denver, CO Treasurer: John Stafford, Breckenridge, CO Past President: Patrice Lara, Breckenridge, CO Board of Trustees: Libby Bortz, Littleton, CO Barbara Calvin, Breckenridge, CO Melanie Frank, Breckenridge, CO Sean Gatzen, Breckenridge, CO John Landon, Breckenridge, CO Sally Queen, Breckenridge, CO Barbara Vonderheid, Breckenridge, CO Janice Ward Parrish, Frisco, CO Pam Wiegand, Denver, CO Pam Piper Yeung, Breckenridge, CO CEO: David DePeters COO: Cecile Forsberg Music Director: Carl Topilow Organization Mission Statement : Changing Lives Through Music! The National Repertory Orchestra is a preeminent intensive fellowship that equips young musicians for orchestral music careers while providing the highest -level of musical experience for all stakeholders. We pride ourselves on Changing Lives Through Music! Organization fiscal year-end: : 2018-09-30 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Signature Events Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $1,000 Who currently funds your organization? : Funds for the National Repertory Orchestra are generated through ticket sales from our concerts at the Riverwalk Center in Breckenridge, individual contributions from donors and board members, advertising revenue and foundation support. Some of the funding agencies that contribute most significantly to the NRO include the Town of Breckenridge, Bob Benson Family Foundation, The Summit Foundation, and Vail Resorts EpicPromise. How will the contribution be used? : Funds from the Town of Vail will be used for a portion of the expenses associated with our "Free Family Concert" with Bravo! Vail. Pending final contract, the National Repertory Orchestra plans to perform with Bravo! Vail during the summer of 2019. In 2018, the National Repertory Orchestra (NRO) will feature Magic Circle Mime's The Listener "Free Family Concert" in collaboration with Bravo! Vail. The date for the production is July 12, 2018. The National Repertory Orchestra will perform "The Listener" produced by Magic Circle Mime Co. The orchestra will present this program for patrons in the Gerald R. Ford Amphitheater in Vail, Colorado. Audience members of all ages will go on a musical excursion that teaches them about music, concerts and performances, and the art of listening. The concert begins at 11:00 am and gates open at 10:00 am for games and activities including an instrument petting zoo. The National Repertory Orchestra has a longstanding history of performance with Bravo! Vail. The popularity of each performance has been evident in the hundreds of audience members drawn to the concert. Maestro Carl Topilow uses his passionate conducting style to give audience members a fresh and exciting concert experience, enthralling the audience with his narration and stories behind the music. In past years, the NRO has received generous contributions from the Town of Vail to offset a portion of the costs associated with our NRO Concert in Vail. For the National Repertory Orchestra's 2019 performance with Bravo! Vail, we are again asking the Town of Vail to help defray some of the costs associated with this concert. The funds would be used to offset the event costs of marketing, instrument and equipment transportation, music and truck rental, and rehearsal. How does your request support item 1C of the Contribution Policy (See above) : The National Repertory Orchestra, like the Town of Vail, is dedicated to providing the community with recreational, educational and cultural experiences. The NRO has a long-established relationship with Bravo! Vail and continues to bring a world-class orchestral experience to this annual event. An extensive orchestral fellowship is the core of the NRO's educational vision, and performing with Bravo! Vail fulfills this vision while also providing an exceptional cultural experience for December 4, 2018 - Pa0 188 0 8/22/2018 the citizens and visitors of Vail. Admission to this concert is free. The NRO views this as a wonderful opportunity to engage with the enthusiastic and receptive Vail audiences. The total number of attendees anticipated is 450-500. In the past, several busloads of senior citizens attendees came from Grand Junction to enjoy the concert. They told us that they shopped in Vail and ate at Vail restaurants after the concert. The NRO further benefits the Vail community through promotion in our materials. We market the Gerald R. Ford Amphitheater Vail concert in our brochure, season program book, newsletter and on Social Media. We print 12,000 brochures and 5,000 program books that are distributed and displayed throughout Summit County, including Breckenridge, Silverthorne, Dillon, Frisco, Copper Mountain and Keystone. Brochures are mailed to 2000 of our donors and given to the concierges all over Summit County. The program book is distributed at each NRO concert, including the NRO's annual Gala in Denver. The email newsletter reaches about 2,700 subscribers and our Social Media marketing reaches an additional 3,000 people. We post https://www.visitvailvalley.com/ Vail Valley Chamber Tourism Bureau information in the NRO program book to encourage patrons to acquire tourist information about the Vail Valley area. Please Upload Organization Balance Sheet : BalanceSheet.pdf Please Upload Organization Income Statement : Incomestatement.pdf Linked Form : asa@nromusic.com Submission Date : 2018-06-28 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6311315 Last change : 2018-06-28720:48:17+0000 December 4, 2018 - Pa§@ 189 0 9:27 AM 06/27/18 Accrual Basis National Repertory Orchestra Balance Sheet As of May 31, 2018 ASSETS Current Assets Checking/Savings 10000 • Alpine Bank Accounts May 31, 18 192, 571.40 10500 • Bank Accounts 200.00 Total Checking/Savings 192,771.40 Accounts Receivable 11001 • *Accounts Receivable 28,070.00 Total Accounts Receivable 28,070.00 Other Current Assets 11100 • Accounts Receivable 11200 • Prepaid Expenses 19200 • Suspense 19300 • HRA Offset 500.00 7,959.83 11, 622.00 776.05 Total Other Current Assets 20,857.88 Total Current Assets 241,699.28 Fixed Assets 18145 • Equipment 18147 • Website and Software 18143 • Music Libarary 18144 • Instruments and Music Stands 18146 • Furniture & Fixtures 18149 • Accumulated Depreciation 18150 • Accumulated Amortization 8,531.30 50,372.70 44,187.17 37,159.08 43,538.17 -78,173.45 -46,942.92 Total Fixed Assets 58,672.05 Other Assets 19182 • Investments -Endowment Account 1,858,946.83 Total Other Assets 1,858,946.83 TOTAL ASSETS 2,159,318.16 LIABILITIES & EQUITY Liabilities Current Liabilities Credit Cards 20300 • Apline Bank Credit Cards 6,264.04 Total Credit Cards 6,264.04 Page 1 December 4, 2018 - Page 190 of 509 9:27 AM 06/27/18 Accrual Basis National Repertory Orchestra Balance Sheet As of May 31, 2018 Other Current Liabilities 20550 • HRA - Cecile 20590 • HRA - Kathleen 20595 • Payroll Liabilities Total Other Current Liabilities Total Current Liabilities Total Liabilities Equity 32000 • *Unrestricted Net Assets 28050 • Restricted Assets Net Income Total Equity TOTAL LIABILITIES & EQUITY May 31, 18 751.01 25.04 6,893.95 7,670.00 13, 934.04 13, 934.04 55, 827.47 2,124,188.55 -34,631.90 2,145, 384.12 2,159,318.16 December 4, 2018 - Page 191 of 509 Page 2 9:27 AM 06/27/18 Accrual Basis National Repertory Orchestra Profit & Loss October 1, 2017 through May 30, 2018 Income 30300 • Fund Raising Revenue 30500 • Special Events 30390 • Concert Revenue 30600 • Merchandise and CD Sales 30700 • Gala Revenue 30735 • Audition Tour Revenue 30800 • Administrative 30900 • Endowment Distribution 90000 • Endowment Income Oct 1, '17 - May 30, 18 306, 317.02 26, 784.54 30, 000.00 19.23 47, 825.00 68, 735.00 30,127.04 41, 097.00 0.00 Total Income 550,904.83 Gross Profit 550,904.83 Expense 50340 • Fund Raising Expenses 50500 • Special Event Expenses 50370 • Marketing Expenses 50424 • Concert Expenses 50635 • Merchandise Costs 50711 • Gala Expenses 50740 • Audition Tour Expenses 50780 • Personnel Expenses 50835 • Administrative Expenes Total Expense Net Income 9,203.29 16,698.56 20, 392.74 92,280.07 93.70 34, 844.25 16, 542.28 324,537.34 53, 052.82 567,645.05 -16,740.22 December 4, 2018 - Page 192 of 509 Page 1 8/22/2018 The Vail Jazz Foundation, Inc. Kenly Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : The Vail Jazz Foundation, Inc. First Name of Contact Person : James Last Name of Contact Person : Kenly E-mail Address : james@vailjazz.org Mailing Address : PO Box 3035 City : Vail State : US -00 Zip : 81658 December 4, 2018 - Pa66 193 0 8/22/2018 Telephone Number : 9704796146 Members and Titles of your Governing Board : Board of Directors Howard L. Stone - Chairman, Retired Real Estate Attorney & Investor (Vail, CO Michael S. Brown - Regional President, Alpine Bank 1 Avon, CO Kevin Clair - Retired Restaurateur 1 Edwards, CO John Clayton, Jr. - Professional Musician 1 Los Angeles, CA Garret Davies - VP of Strategy & Business Development, FiberVisions Corp. 1 Edwards, CO John Dawsey - Vice President / General Manager, Colorado Mountain Express 1 Edwards, CO James G. Dulin - Investor 1 Edwards, CO Robert E. Ford - Investor 1 Vail, CO Fred W. Frailey - Journalist, Trains Magazine 1 Edwards, CO James R. Johnson - CEO, Russell Standard Corp. 1 Pittsburgh, PA Jenelle Soderquist Krissell - Retired Attorney & Mediator 1 Marina del Rey, CA Laine Lapin - Investor 1 Vail, CO Andrew C. Littman - Attorney, Stevens Littman Biddison Tharp & Weinberg' Vail, CO Carolyn Pope - Flight Attendant and Writer 1 Vail, CO Larry S. Stewart - Attorney, Stewart Tilghman Fox Bianchi & Cain' Jupiter, FL Leslie W. Stern - Managing Director, Diversified Search 1 Edwards, CO Catherine A. Stone - Retired Interior Designer 1 Vail, CO Will W. Verity - President and Managing Director, Verity Investment Partners 1 Beaufort, SC Glen Wood - Real Estate Developer 1 Vail, CO Advisory Board Paul Bates, Insurance Executive, Retired Bob Cohen, Wine Distribution Executive, Veraison Beverage Distributors Allie R. Coppeak, Fundraiser, Retired Dr. Willie Hill, Jr., Director, Univ. of Mass. Amherst Fine Arts Center Laura Miller, Music Educator, Avon Elementary School Gary J.E. Thornton, Captain, U.S. Coast Guard, Retired Mike Peak, Professional Musician William Pierce, Architect, Fritzlen Pierce Architects Linda Wilson, Retired Organization Mission Statement : The mission of Vail Jazz is to perpetuate jazz through live performances that showcase the artistry and talent of great jazz musicians, and through education, with a focus on young musicians and young audiences. Organization fiscal year-end: : 2018-10-31 Are your books audited? : No What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Signature Events Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $100,000 In- Kind Request : 10 full day rentals of Donovan Pavilion for Vail Jazz Winter Series and/or Vail Jazz Club Series performances during the 25th Anniversary Vail Jazz Festival. Banner hanging fees waived for the street banner at the Covered Bridge and Lionshead Who currently funds your organization? : Vail Jazz has developed a healthy, diversified base of funding consisting of sponsorship with local businesses and international corporations, government grants, individual contributions, event admissions, advertising income and in kind gifts. Individual contributions continue to make up the greatest percentage of the organization's income at 62%, followed by tickets sales at 25%, sponsorship and advertising at 8%, and program fees and other incremental revenue making up the remaining 5%. Town of Vail, Alpine Bank, Entertainment Cruise Productions, EpicPromise, Vail Daily, Colorado Mountain Express, Holy Cross Energy, TV8, Slifer Smith & Frampton Real Estate, Might Fine Productions, Mountain Living, Classic Pianos, KUVO Jazz Radio, AlpinAire, Sonnenalp, Four Seasons, Vail Mountain Resort & Spa, Arrabelle @ Vail Square, Vail Chophouse, Bloch & Chapleau, FlyVail, Edwards Metropolitan District, Riverwalk at Edwards, Pierce Architects, Sato, The Village Market, Anheuser-Busch, Arta Tequila, Foley Family Wines and 10th Mountain Whiskey. How will the contribution be used? : The Vail Jazz Foundation, Inc. (Vail Jazz) respectfully requests a grant in the amount of $100,000 to fund the 25th Annual Vail Jazz Festival, which will be presented over a 10 -week period during the summer of 2019, consisting of more than 75 free and ticketed performances. This increase in funding is requested in support of three special events, developed in celebration of the organization's 25th Anniversary. These activities include: 1. 25th Anniversary Celebration on Monday on July 8, 2019 — Held in a luxury hotel property in December 4, 2018 - Pa§6 194 0 8/22/2018 Vail, this event will bring together approximately 200 of Vail's leading philanthropists, business leaders, arts and culture enthusiasts, jazz artists and alumni of Vail Jazz's educational programs in honor of the organization's Silver Anniversary. A performance by internationally -recognized jazz musicians will take place, as well as a silent auction, live auction and special appeal. 2. Opening Night of the 25th Anniversary Vail Jazz Party on Thursday, August 29th — On the first night of the 2019 Vail Jazz Party, a special evening of programming will be developed to honor the legacy that Howard and Cathy Stone have established through their work with Vail Jazz students, alumni, soloists and headliners will participate in an evening of original music and celebrated classics. This celebration is especially fitting because Vail Jazz began in 1995 with this 2 -day Labor Day weekend event, modeled after the Dick Gibson Jazz Parties that took place from the late '50s to late '70s. 3. Niki Haris' Gospel Prayer Meetin' on Sunday, September 1st (relocated to the Gerald R. Ford Amphitheater) — Considered by many to be Vail Jazz's most popular annual offering, the Gospel Prayer Meetin' will continue in 2019 with a relocation to the Gerald R. Ford Amphitheater. Complete with a 6 -person gospel choir, horn section, Hammond B-3 organ, rhythm section, and the famed lead vocalist Niki Haris, the event will be promoted on a larger scale as a stand-alone destination event. With crowds exceeding 500 for the past four to five years, Vail Jazz is excited to transition the energy, joy and appeal of the event into a venue with greater capacity and a higher production quality. This move will double production costs for the event, exceeding $20,000 between venue rental fees, a complete backline order, lighting, sound, marketing, staffing and transportation for Vail Jazz Party guests who are staying at the Vail Marriott. However, the potential to serve the community on a greater scale and attract attendees from around the region makes this a promising and worthwhile endeavor. While these activities summarize the special programs and enhancements of Vail Jazz's 25th year of operation, long-standing Festival programming will continue in a familiar format, as described in the narrative below. Vail Jazz will welcome more than 18,000 attendees to a diverse presentation of 78 events throughout the Vail Valley in 2019, riding a swell of public awareness, community engagement and attendance that reached record highs in 2017 and 2018. The Vail brand sets an expectation of world-class quality, exceptional experiences and unmatched customer service, and the Vail Jazz staff is aggressively working towards realizing this goal each year with live performances and educational programs that inspire and entertain to that degree. With a vast array of entertainment opportunities to choose from in the Vail Valley, Vail Jazz strives to set itself apart by providing spectacular listening experiences in each of its venues, leaving guests with lasting memories of stunning jazz performances. These goals are entirely constructed around the overarching premise of encouraging guests and attendees to return year after year to spend time in Vail. How does your request support item 1C of the Contribution Policy (See above) : Three long-range goals have remained constant in Vail Jazz programming over the past five years: (1) to enhance the quality of Vail Jazz Festival events throughout the Vail Jazz Festival, (2) to maximize the economic impact that Vail Jazz has on the Town of Vail, and (3) to engage the community in new ways that expand the foundation of support which allow Vail Jazz programs to succeed. Short-term goals of the organization include: (1) to maximize occupancy and elevate the attendee experience at the Vail Jazz @ Vail Square series, (2) to increase attendance and engagement among full- time and seasonal residents, (3) to drive destination attendance to the Vail Jazz Party over Labor Day weekend, and (4) to fully develop the Vail Jazz Winter Series as a popular nightlife dining and entertainment experience. Vail Jazz also requests in-kind donations from the Town of Vail to be utilized throughout 2019: • Two half day rentals of Donovan Pavilion • Four half day rentals of The Grand View room Please Upload Organization Balance Sheet : Vail Jazz - BalanceSheet_YTDapril_FY2018.xlsx Please Upload Organization Income Statement : Vail Jazz - P&L_YTDapril_FY2018.xlsx Linked Form : amanda@vailjazz.org Submission Date : 2018-07-02 Submission Date : 2018-07-02 Created by : integrations+23268@zenginehq.com December 4, 2018 - Pa§6 195 0 8/22/2018 Record ID # : 6793563 Last change : 2018-07-02T16:59:07+0000 December 4, 2018 - Pad6 196 0 April 30, 2018 ASSETS Current Assets Checking/Savings DEPOSIT ACCOUNTS UNRESTRICTED 11100 • Cash in Bank $ 96,459.91 11104 • Petty Cash $ 225.00 11112 • Cash Money Market $ 13,276.83 Total DEPOSIT ACCOUNTS UNRESTRICTED $ 109,961.74 Total Checking/Savings $ 109,961.74 Other Current Assets 11114 • Investment Account $ 469,435.35 11120 • Deposits $ 4,000.00 11132 • Employee Loans $ 902.95 11136 • Prepaid Expense $ 171.01 11144 • Merchandise for Sale $ 6,230.16 Total Other Current Assets $ 480,739.47 Total Current Assets $ 590,701.21 Fixed Assets 12200 • Net Personal Property - Current 12220 • Personal Property - Current Yr $ 15,699.99 12260 • Accumulated Depre. Current Yr. $ (9,189.99) Total 12200 • Net Personal Property - Current $ 6,510.00 Total Fixed Assets $ 6,510.00 Other Assets 13150 • Misc. Assets $ 84.54 Total Other Assets $ 84.54 TOTAL ASSETS $ 597,295.75 LIABILITIES & EQUITY Liabilities Current Liabilities Credit Cards Credit Card at Alpine Bank $ 12,092.59 Total Credit Cards $ 12,092.59 Other Current Liabilities 21108 • Loans Payable - Current Portion $ 2,740.77 21116 • Prepaid Admissions $ 100.00 21133 • Deposits -Other $ 5,000.00 Total Other Current Liabilities $ 7,840.77 Total Current Liabilities $ 19,933.36 Total Liabilities $ 19,933.36 Equity 3000 • Opening Bal Equity $ 43,235.44 3900 • Retained Earnings $ 404,107.04 Net Income $ 130,019.91 Total Equity $ 577,362.39 TOTAL LIABILITIES & EQUITY $ 597,295.75 December 4, 2018 - Page 197 0 Ordinary Income/Expense Income 40000 • Revenue 41000 • Admissions 41500 • Ticket Fees 42500 • Event Non -Ticketed Revenue 43000 • Sponsorship Fees 44000 • Contributions 44100 • Individuals 44200 • Businesses 44300 • Foundation/Grants 44400 • Other Contributions Total 44000 • Contributions 45000 • Fund Raisers 45500 • Raffle/Auction-Net 46000 • Merchandise Sales 46500 • Program Ad Sales 47000 • Advertising Allowance 48000 • Interest Income 49000 • Misc. Income 49100 • Gain/Loss Securities Sales Total 40000 • Revenue Total Income Expense 51000 • Performances 51100 • Vail Jazz Festival 51500 • Winter Series Total 51000 • Performances 51700 • Fund Raisers 52000 • Education 53000 • Marketing 54800 • Information Technology 55000 • Fund Raising 56000 • Administration 6560 • Payroll Expenses Processing Fee 56148 • Payroll 56152 • Payroll Taxes Total 6560 • Payroll Expenses Total Expense Net Income FY2018 - YEAR TO DATE FY2018 - ANNUAL ACTUALS BUDGET $ 93,967.00 $ 297,105.00 $ 4,868.85 $ 14,974.00 $ 500.00 $ 18,400.00 $ 50,500.00 $ 79,000.00 $ 164,659.77 $ 397,000.00 $ 2,026.00 $ 19,800.00 $ 89,570.84 $ 238,984.00 $ 8,946.00 $ 10,872.00 $ 265,202.61 $ 666,656.00 $ 34,750.00 $ 71,000.00 $ 1,556.81 $ 12,500.00 $ 1,535.00 $ 80,000.00 $ 5,800.00 $ 8,399.00 $ 8,741.30 $ 53,975.00 $ 573.45 $ 8,477.00 $ 71.67 $ 5,750.00 $ (15.00) $ - $ 468,051.69 $ 1,316,236.00 $ 468,051.69 $ 1,316,236.00 $ 13,176.78 $ 487,422.00 $ 56,598.11 $ 47,087.00 $ 69,774.89 $ 534,509.00 $ 12,905.84 $ 70,740.00 $ 13,733.74 $ 74,525.00 $ 13,846.83 $ 124,744.00 $ 7,112.27 $ 26,276.00 $ 5,051.79 $ 36,950.00 $ 38,802.28 $ 98,592.00 $ 893.84 $ 1,500.00 $ 162,250.36 $ 320,000.00 $ 13,659.94 $ 28,400.00 $ 176,804.14 $ 349,900.00 $ 338,031.78 $ 1,316,236.00 $ 130,019.91 $ - December 4, 2018 - Page 198 of 509 VAIL �.I VALLEY FOUNDATION CULTURAL SPONSORSHIP GRANT PROPOSAL for the TOWN OF VAIL: 2019 VAIL DANCE FESTIVAL 2019 GERALD R. FORD AMPHITHEATER 2019 GERALD R. FORD AMPHITHEATER VIDEOBOARD INSTALLATION (CAPITAL IMPROVEMENT PROJECT) 2019 SUMMER MOUNTAIN GAMES (IN-KIND ONLY) Presented by : THE VAIL VALLEY FOUNDATION APPLICATION FOR TOWN OF VAIL FUNDING 1. Name of organization: Vail Valley Foundation 2. Contact Person: Mike Imhof, President 3. Mailing Address: PO Box 6550 Avon, CO 81620-9801 4. Telephone: 970-777-2015 5. Email address: mimhof@vvf.org 6. Members of governing board: entered electronically 7. Amount of contribution requested: $219,500 + $60,600 in-kind support $69,500 for VDF $30,000 for GRFA $110,000 for GRFA Videoboard Installation $10,000 for VVF Athlete Commission In-kind support of $5,600 for GRFA & $55,000 for GMG 8. Organization fiscal year-end: June 1, 2019 — May 31, 2020. 9. Are your books audited: Yes — annually. 10. How will the contribution be used: Please see below information. 11. How does your request support item 1C of the contribution policy: A positive, sustained economic climate. December 4, 2018 - Page 199 c I'AVALLEY FOUNDATION 12. Who currently funds your organization (other governments, private donations, user fees, etc.): Town of Vail, Town of Avon, Eagle County, Beaver Creek Resort Company, private donations, ticket sales revenue (as non -limiting examples ticket sales to performances at the Vilar Performing Arts Center and tickets to attend Vail Dance Festival performances, and corporate sponsorships with local, regional and national companies (brands) As non -limiting examples, TIAA Bank, Korbel, GoPro, US Bank, LL.Bean, Constellation Brands & Nature Valley. 13. Organization's mission statement: The Vail Valley Foundation mission is to enhance the quality of life in the Vail Valley through arts, athletics and education. Vail Valley Foundation - Enhancing the quality of life through arts, athletics and education 2018 VAIL DANCE FESTIVAL — This is a TOV Tier 1 Event July 26 — August 10, 2019 Arguably one of the most successful and talked about dance festivals in the country, the Vail Dance Festival (VDF) is considered one of the best of its kind around the world. It has consistently been featured in The New York Times, American Express's Departures Magazine, Dance Magazine and many other vertical print and digital media. Ticket sales records indicate that Festival -goers are true destination guests who are making a specific trip to Vail to attend this world-renowned event and demonstrate price insensitive behavior. From our inaugural performance of the Bolshoi Ballet School in 1988 to our current melting pot of dance talent, VDF continues to push artistic boundaries in both performance and public spaces. More than 60 original works have been commissioned throughout our tenure that bear the Festival's name in perpetuity and continue to live on in the repertories for major dance companies. From Lil Buck and Shantala Shivalingappa's blend of South Indian story -telling and Memphis Jookin, street dance to Michelle Dorrance's musically -welded new work for the 2017 Festival, which challenged every dancer into tap -shoes — our creative leadership has made the festival one of the country's foremost summer dance destinations. It's no wonder the Festival has solidified Vail as a distinguished location and relevant contributor to the dance world, at the highest level. The New York Times has described our Festival as a place "...where dancers shine beyond their usual specialties." The festival has put innovative artists like Claudia Schreier and Lil Buck on the map, while also providing important next steps for artists from across the spectrum of dance and music. Damian Woetzel, as the Festival's Artistic Director, continues each year to outdo the prior year in terms of the caliber of performers, the breadth of the artistic styles represented and a Festival that truly entertains and provides a unique experience for all attendees. We consistently receive tangible and positive feedback from guests (ticket buyers), performers, donors, sponsors, press and industry experts as not just a player but a leader at the highest levels in the international community of performing arts. In addition, the Festival has become far larger than what transpires at the Gerald R. Ford Amphitheater. A series of complimentary outreach programs offered through our fringe festival events; Dancing in the December 4, 2018 - Page 200 c N VAIL I'AVALLEY FOUNDATION Streets, film screenings, and Village Vignettes are examples of ancillary events that the Festival provides to broaden accessibility and increase appreciation of the art form. A robust master class series provides local aspiring dancers the chance to work with some of the masters of modern day dance. Internship opportunities offer unparalleled behind -the -scenes exposure to some of the world's greatest dancers and choreographers and a rare, fast -tracked immersion experience in the world of arts management. Celebrate the Beat Summer Pop Hop Camp, for 9 -14 -year olds, hosted concurrent with the first week of the Festival encourages students to develop collaborative skills, cultural literacy, critical thinking, confidence, and inspires them to believe in themselves. Establishing a standard of excellence that impacts all aspects of their lives. In 2017, in an effort to reach a broader audience, bring a deeper understanding of the creative process and influence Vail has had on 21st Century dance, VDF piloted Festival Forums, a podcast series broadcast in conjunction with the popular podcast series Conversations on Dance. Since the 2017 festival, these episodes recorded in Vail have racked up nearly 120,000 listens to date, allowing enthusiasts the chance to enjoy the festival and its artists long after it had ended. Due to the surprise success of this initial project, we decided in March to fully launch these Festival Forums as an auxiliary component of the Festival this summer. Town of Vail's midyear funding is considering support for this new expansion for our 2018 season. We've included an additional request for $4,500 in this application so the program to continue in the 2019 season and beyond. GENERAL TOWN OF VAIL BENEFITS • At the close of the 2017 Festival the PR audience numbers reached 509 million impressions, up from 261 million impressions in 2016, resulting in $4.74 million in Advertising Value Equivalency (AVE), a nearly 200% increase from 2016. • This summer's Festival (2018), in an effort to provide access to all demographics, has once again scheduled FREE street performances and engagement opportunities to happen in Vail Village, Lionshead Village and Eagle's Nest away from the traditional stage setting. • Vail plays host to a Festival which no longer is considered just a local or even Colorado centric event but one that competes in caliber and stature on a world stage. • Added dimension to summer in Vail; more to experience, more to do, more reasons to make Vail your summer destination. • Positions Vail as an international center of cultural arts at the highest level of excellence • Independent surveys on destination visitation each year reveal that in 2017 93% of attendees come to Vail specifically to attend the Festival and 72% of attendees stayed in paid lodging averaging 3.5 room nights (estimated average nightly room rate $383). SILVER SPONSOR BENEFITS • Logo inclusion in all marketing and advertising initiatives. • One (1) full page advertisement in the official Vail Dance Program. December 4, 2018 - Page 201 0 I'AVALLEY FOUNDATION • Logo inclusion on performance / Festival poster. • Right to use the Vail Dance Festival logo. • Four (4) seats in premium seats for all performances at GRFA. • Four (4) VIP tickets to attend the Vail Dance Festival Gala. • Sound bite for Festival Forum podcasts identifying TOV as the sponsor • Four (4) invitations to all scheduled social functions. • Class observation opportunities. 2019 VAIL DANCE FESTIVAL GRANT REQUEST For 2019, The Vail Valley Foundation kindly requests a 30% increase in investment. This requested increase is tied to the significant continued growth of the VDF project over the last 5+ years itself, while at the same time, costs to run the project have increased 3-5% each year. VVF kindly asks that the Town of Vail consider these annual cost increases, which include lodging, talent fees, transportation costs, meals and entertainment, in their consideration of our $69,500 cash contribution request. BUDGET IMPACT TO 2019 VAIL DANCE FESTIVAL Should the Town of Vail approve our request for $69,500, it shall account for 3% of our operating expense budget. The Vail Dance Festival continues to grow each year and we are sincerely thankful for the annual Town of Vail support. GERALD R. FORD AMPHITHEATER — This is a TOV Tier 1 Event/Venue Summer Season 2019 Summer 2019 will mark the Amphitheater's 32nd season. The lobby space now serves a meeting space for Ford Park. Camp Vail and other user groups utilizes the lobby as a resting place in the park, it is great for sunny days and rainy days. We are now hosting numerous events in the lobby such as wedding ceremonies, art classes and chef's in the gardens. Locals and guests of all ages flock to the theater for a diverse mix of entertainment. From the Vail Dance Festival & Hot Summer Nights series to Bravo! Vail Valley Music Festival's symphonies and hot performers like Ozomatli, The New York Philharmonic, and Robert Randolph & the Family Band, each summer, the Gerald R Ford Amphitheater serves as the cultural and social centerpiece of the Vail Valley. For Summer 2018 and beyond, we've also partnered with the leading music promoter in Colorado; AEG Presents, to create a new paid music series called Whistle Pig Vail (WPV). WPV launched on June 16, 2018 with Dispatch and followed that up on June 19, 2018 with a sold out Robert Plant concert. Three additional 2018 WPV concerts are booked for 2018. August 17 & 18th we have the Jerry Garcia Birthday band and on Thursday, September 13th the band 311 is booked to kick off Oktoberfest weekend. Our plan is to continue our partnership with AEG in 2019 and increase the total # of WPV concerts to six (6) to eight (8). WPV will bring headliner concerts to the GRFA which will create a unique experience for our community and guests while also generating additional economic impact to the TOV. By working with AEG to bring top tier artists to Vail, it provides our community the ability to December 4, 2018 - Page 202 c I'AVALLEY FOUNDATION attend very special performances from artists who typically play venues with capacities ranging from 10,000 — 20,000 like Red Rocks and the Hollywood Bowl. Seeing this caliber of artist at the GRFA, which has a capacity of 2515 for WPV concerts creates a truly unique and special experience, while also providing Vail with extensive marketing impressions, an increase in destination guests, added summer programming and significant economic impact. The Vail Valley Foundation always strives for top -tier performances. The 2019 summer season shall be no exception with Bravo! Vail Valley Music Festival orchestras, Whistle Pig Vail, Hot Summer Nights and the Vail Dance Festival as anchors for the 2019 amphitheater schedule. GENERAL TOWN OF VAIL BENEFITS • Amphitheater productions showcase Vail as a premier summer resort • Provides the major venue for performing artists and special events in Vail • Programming policy ensures performance variety for Vail audiences • Convention use for summer conferences, weddings, graduations and more • Unique venue and programming sets Vail apart from other mountain resorts • Vail's unique and breathtaking outdoor venue receives national recognition and praise • Town of Vail bars, restaurants, clothing, jewelry, etc. all benefit from traffic pre and post performance keeping people in Town, engaged and having a wonderful time in Vail SUPPORTER BENEFITS • Identification as major contributor in the building of the Gerald R. Ford Amphitheater. • Four (4) reserved seats at all Gerald R. Ford Amphitheater productions with the exception of the Whistle Pig Vail series. For the WPV the Town of Vail will have the right to purchase 4 tickets during the first two weeks of each WPV Concert on -sale via a dedicated ticket block available for purchase only to VVF donors and key partners. • One (1) full page advertisement in the Vail Valley Summer Events Magazine. 2019 GERALD R. FORD AMPHITHEATER GRANT REQUEST The Vail Valley Foundation kindly requests the Town of Vail consider a $30,000 cash contribution to help support a portion of the Hot Summer Nights series and services provided to the community at the facility. We also ask for a $2,800 in-kind contribution for police presence during Hot Summer Nights events and $2,800 for police presence at the Whistle Pig Vail series for a total of a $5,600 in-kind contribution. BUDGET IMPACT TO 2019 GERALD R. FORD AMPHITHEATER December 4, 2018 - Page 203 0 I'AVALLEY FOUNDATION Should the Town of Vail approve our request for $30,000 it shall account for 3% of our operating expense budget. GERALD R. FORD AMPHITHEATER — Videoboard installation capital improvement project In May of 2018, the VVF installed a new HD Digital Screen Videoboard from the center of the GRFA Pavilion roof, facing the lawn. The videoboard was installed by Creative Technologies Group and measures approximately 23' x 9'. The Digital Screen is VVF's most recent capital improvement project to the GRFA and is a major venue enhancement. This new technology elevates the overall guest experience at the venue & provides 96% of General Admission lawn guests with an incredible visual experience bringing to life the intricacies of everything happening on the main GRFA stage. The Digital Screen keeps the GRFA fresh, new and on the cutting edge of performance arts venues in the Rocky Mountain Region. The digital screen allows us to better thank and recognize our generous partners, donors, sponsors and stakeholders, allows for dynamic and entertaining programming pre -performance and during intermissions. VVF will be using a combination of long lens and smaller format HD cameras to livestream content on the screen during all VVF owned and managed events. Guests on our lawn will enjoy unique viewing experiences at events like Hot Summer Nights, Whistle Pig Vail, Vail Dance Festival and the GoPro Mountain Games. Although the digital screen was juts installed in late May, we have already used it for the 2018 Mountains of Music concerts, our first two 2018 WPV concerts, high school graduation and Hot Summer Nights; all to rave reviews. Bravo! Vail also plans to use the digital screen but it is unlikely Bravo! Vail will use the screen much, if at all during summer 2018. Their plan is to prepare for use of the digital screen across many of their performances during summer 2019. In addition to capital expense to purchase and install the digital screen, VVF anticipates approximately $60,000 per summer in expenses that VVF will cover tied to live screen direction, switching, camera operators and production. In early 2018, VVF President Mike Imhof went before TOV Council to request funding support of $110,000 for this capital improvement project. At the time, the VVF would have been requesting capital funding support from Town of Vail out of the preferred budget cycle for the town. Mike Imhof proposed to Vail Town Council the funding support as mentioned above but committed to Vail Town Council that this funding from Town of Vail would fall into the normal and preferred annual (calendar year 2019) fiscal year for the Town. VVF received approval for the $110,000 in capital funding support from the Town of Vail so long as the VVF went through the proper funding process. We believe this project is essential and will continue to showcase GRFA and Vail as a community offering the highest level of excellence for our residents and guests. For thirty years, a priority of the VVF has been and remains to continue to upgrade and modernize all aspects of the Gerald R. Ford Amphitheater, with our end goal being to provide an exceptional experience for all Amphitheater guests. The digital screen will: • Substantially improve and enhance the experience for our general admission guests. December 4, 2018 - Page 204 c I'AVALLEY FOUNDATION • Allow us to improve our recognition and thanks for our valued partners, donors and sponsors. • Create new revenue streams for the Vail Valley Foundation through on-screen advertising for select brands and live streaming to a global audience and for dynamic pre -performance and intermission programming, including video content showcasing all the wonderful things Vail and our valley has to offer. • Allow for increased ticket revenue. GENERAL TOWN OF VAIL BENEFITS • Unique and intimate venue, creative viewing opportunities and diversified programming sets Vail apart from other mountain resorts • Videoboard offers a unique and creative guest experience enhancement • Provides attendees with entertainment during downtime and a complimentary viewing experience • The ability to now offer live streaming of select performances hosted at the GRFA will showcase Vail and the GRFA to a global audience. SUPPORTER BENEFITS • Town of Vail sponsor logo acknowledgement and Vail Valley imagery and/or messaging efforts (ie...sustainability messaging) on the screen during all events where the screen is activated • Ability to provide video content in future years, should VVF decide to add video content to the pre -event and intermission schedule. For year 1, we are keeping it simple with logo acknowledgement and trivia, so we do not over -commercialize the venue. 2019 GERALD R. FORD AMPHITHEATER DIGITAL SCREEN CAPITAL GRANT REQUEST The Vail Valley Foundation kindly requests the Town of Vail consider a $110,000 one-time cash donation toward the capital improvement project installation of an HD Videoboard at the GRFA which will continue to position the Gerald R. Ford Amphitheater as a leading arts and entertainment facility. BUDGET IMPACT TO 2019 GERALD R. FORD AMPHITHEATER VIDEOBOARD INSTALLATION PROJECT Should the Town of Vail approve our request for $110,000 it shall account for 25% of our capital improvement expense budget. 2019 GOPRO MOUNTAIN GAMES — This is a TOV Tier 1 Event June 6-9, 2019 The largest, most successful mountain based multi -sports, music and lifestyle celebration arguably in the world. Mountain Games has continued to grow each year and is looked upon as the top national event within the Outdoor Industry. The 2018 event again saw growth in athlete attendance with more than 4,000 participants and overall spectator attendance is estimated at over 80,000 over the 4 days (preliminary #'s). Per the new Town of Vail (Town Council) grant application request guidelines, we are including in this grant request just the in-kind support we are requesting from the Town of Vail. Our normal CSE request for funds process will continue as per normal for any cash contribution request. The Vail Valley Foundation respectfully asks the Town of Vail to consider an in-kind contribution of $55,000 for the 2019 Event to be used for: December 4, 2018 - Page 205 c N VAIL I'AVALLEY FOUNDATION • Extra duty police coverage and longer hours specifically tied to three (3) nights of music at the GRFA during 2019 Mountain Games and continued expansion into Lionshead Village. A total of 4 officers are requested for day time operations throughout all venues each day with an additional 2 officers on Saturday during the busiest day of the event. In addition, 4 night time officers at GRFA for the evening concerts until 11pm. Tied to this request are the same 4 additional CO's in place during the Time Trial bike race on Sunday. • Fire support • Electrical support to turn on garden and lamppost power for vendors in Vail and Lionshead • Public works event assistance to include but not limited to: o trash clean up o water meter usage o sand bag distribution to and from event • Jersey barriers for World Cup climbing wall ballast • Transportation — added bus stops along the Frontage Road to shuttle event guests from their cars to and from the event • Event bus/shuttle support and event fees The VVF is asking for an increase in in-kind support in 2019 over what the TOV provided in 2018 since the Mountain Games project continues to materially grow in size, scope and resource needs each year. With the expanding footprint of the Event, we ask that the TOV review the final in-kind donation from 2018 and recommend an appropriate amount to cover 2017, if different from the $55,000 we are suggesting. The VVF agrees to remain true to our commitment to TOV, which was, when VVF purchased the event, to not increase the cash contribution requested of TOV (CSE). VVF has been true to this promise and in fact has, each year since acquiring the Mountain Games project, decreased the VVF cash request. PLEASE NOTE: The Town of Vail is considered a key stakeholder in the Mountain Games event and, tied to the cash request Vail valley Foundation makes to the CSE, the Town of Vail receives detailed marketing, attendance and overall economic ROI information across all aspects of the event along with specific branding and hospitality rights and benefits to be received by the Town of Vail in exchange for its support. December 4, 2018 - Page 206 c N VAIL IYAVALLEY FOUNDATION APPLICATION FOR TOWN OF VAIL FUNDING 1. Name of organization: Vail Valley Athlete Commission 2. Contact person: Mike Imhof 3. Mailing address: PO Box 6550 Avon, CO 81620-9801 4. Telephone: (970) 777-2015 5. Email: mimhof@vvf.org 6. Members and Titles of your governing board: Mike Imhof -Vail Valley Foundation Patty McKenny -Town of Vail Mike Kloser - Vail Community member 7. Amount of contribution requested: $10,000 8. Organization fiscal year-end: Calendar Year January 1 -December 31 9. Are your books audited? YES 10. How will the contribution be used? The Athlete Commission provides financial support to the young individual athletes of our valley so that they might go out into the international world of competition and chase their dreams. Each year we fund both fledgling international athletes as well as those who have reached the highest ranks. The recipients come from every sport and every part of our valley. The number of applicants has been steadily growing every year. However, the amount of available funds has not increased at the same rate. It is our intent to increase the amount of funding from each partner to meet the needs of deserving athletes. 11. How does your request support item 1C of the contribution policy? Funding from the Athlete Commission benefits the entire community of Vail by providing an opportunity for local athletes to represent this community in an international arena thereby gaining exposure and awareness of our premier mountain resort. The commission hopes to honor those athletes that in turn honor their community. Whenever possible, representation of a community logo is expected and greatly appreciated. As winner of the women's World Cup Alpine overall Lindsey Vonn generated tremendous international awareness of Vail. Along with Toby Dawson and Sarah Schleper, Lindsey Vonn received financial support for many years from the Athlete Commission. The future health of our community will be enhanced by providing opportunities for advancement of deserving athletes wishing to pursue their athletic dreams. 12. Who currently funds your organization (other governments, private donations, user fees, etc.)? Town of Vail and the Vail Valley Foundation. 13. Organization's mission statement: Local Pepi Gramshammer originally conceived the idea for the Athlete Commission as a method for the community to provide financial support for the Valley's deserving athletes. The program supports those athletes participating in international competitions. December 4, 2018 - Page 207 c VAI L NI VALLEY FOUNDATION Vail Valley Foundation Financial Overview / Balance Sheet iiil Valley Foundation Prelimivar' - C olist, lid arina Stareinent of Fin ausial Position May 31, 2018 Assets Cash and cash equivalents Accounts receivable, net Promises to give, net Intercompany receivable Prepaid expenses and other assets Operating imrestments Property and equipment, net: Goodwill and intangible assets, net Property and equipment, net - limited as to use: Gerald R. Ford Amphitheater Vital. Center Endowment investments Total assets Liabilities and Net Assets Accounts payable Accrued expenses and other liabilities Deferred revenue Advance ticket sales Deferred membership benefits Intercompany payable Bonds payable, net of debt issuance costs Interest rate swap Total liabilities Net Assets Total net assets Total liabilities and net assets Vail Valley Foundation without VPAC Operations $ 1,563,494 18,759 L 564,527 893,430 5;262,551 1;519;564 497,065 11,486,273 1;441;708 Vilar Performing Arts Center Vail Valley (VPAC) Foundation S 723,620 $ 2,587.113 51,485 70.245 I21,624 1,686.151 2,882 2.882 25,880 919:310 4,666,055 9,928,606 1,333,987 3,153,551 497,065 268,159 11,486,273 1;709,867 $ 24,547,371 $ 7,193,691 $ 32,041.063 150,126 721;500 3,444;997 534,659 272:936 183:678 4,699,372 913,621 10,920,889 13,926,482 4,702 219,310 135,500 165,253 524,766 6,668,925 S 154.828 940;810 3,580;497 699.913 272.936 183.678 4,699.372 913.621 11,445.655 20,595.407 $ 24,847371 $ 7,193,691 $ 32,041.063 December 4, 2018 - Page 208 0 VAI L NI VALLEY FOUNDATION VVF Income Statement: 'JAIL VALLEY FOUNDATION For Period June 1. 2017 Thru May 31, 2018 BUDGET PRELIMINARY ACTUALS REVENUE Fundraising Arts Athletics Education G&A Total Revenue EXPENSE Fundraising Arts Athletics Education G&A Total Expense CHANGE IN NET ASSETS FROM OPERATIONS 54,638, 350 $7,747,214 54,993,599 $3,775,399 $117,000 $4,413,156 $7,805,355 $5,305,896 $3,770,465 555,329 $21,271,562 $2,350,200 ($1r526,015} ($1,553,870 (57r752,035) ($7,811,290 ($4,938,780) (55,126r802) (53r760,339) (53,653r467) ($2,9031,191} ($2,505,526 I$20,978,362} (520,651,053) $293,200 $699,137 CAPITAL EXPENDITURES Sources $360,000 $1,133,542 Uses (5238,000} (51,224,707 Net CapEx 5122,000 ($91,055M BOND PRINCIPAL PAYMENT NET CONTRIBUTION {$155,000} (.$155,00011 S260,200 $l53,072 December 4, 2018 - Page 209 0 8/22/2018 Vail Valley Foundation Dressman Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Vail Valley Foundation First Name of Contact Person : Dave Last Name of Contact Person : Dressman E-mail Address : ddressman@vvf.org Mailing Address : PO Box 6550 City : Avon State : US -00 Zip : 81620 December 4, 2018 - Pa0 210 0 8/22/2018 Telephone Number : 6197640940 Members and Titles of your Governing Board : See VVF application Organization Mission Statement : The Vail Valley Foundation mission is to enhance the quality of life in the Vail Valley through arts, athletics and education. Vail Valley Foundation - Enhancing the quality of life through arts, athletics and education Organization fiscal year-end: : 2019-05-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Destination Events Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $310,000 In- Kind Request : $65,000 to be used primarily for police, fire, public works and communications Who currently funds your organization? : Town of Vail, Town of Avon, Eagle County, Beaver Creek Resort Company, private donations, ticket sales revenue (as non -limiting examples ticket sales to performances at the Vilar Performing Arts Center and tickets to attend Vail Dance Festival performances, and corporate sponsorships with local, regional and national companies (brands) As non -limiting examples, TIAA Bank, Korbel, GoPro, US Bank, LL.Bean, Constellation Brands & Nature Valley How will the contribution be used? : The Vail Valley Foundation kindly requests the Town of Vail consider a $310,000 cash contribution & $65,000 in kind donation to help keep Vail as the primary Mountain venue of the Colorado Classic ($155,000 per stage cash contribution and $32.500 per stage in-kind contribution). This request is flat, year over year and is contingent upon the VVF renewing our agreement with RPM Events to secure Vail as the host city for two stages of the Colorado Classic event in 2019. The 2018 event is scheduled for August 16 and 17 in Vail and August 18 and 19 in Denver. The Vail stages consist of a Circuit race and a Time Trial and will put the Town of Vail on full display for the world to watch. The event is expected to bring a minimum of 15,000 spectators per day to Vail along with the top cycling teams from around the world. The event is live streamed to 70+ countries and generates 885 million impressions to a very attractive demographic consisting active, affluent outdoor enthusiast who travel frequently. Colorado Classic dates align with the top identified need period for the Vail summer season. We anticipate 420 room nights booked for athletes and their entourage with the expectation of an additional 1000 room nights booked through the race owners. Additional room nights will be driven by media, sponsors, and spectators. In 2019, like 2018, the Colorado Classic will dovetail into two nights of Whistle Pig Vail concerts at the Gerald R. Ford Amphitheater, providing guests with additional reasons to travel to Vail and stay for an extended period of time while experiences all that Vail has to offer. The Colorado Classic event will also feature a robust sponsor village, food and beverage areas, and participatory elements such as the Whistle Pig Vail Gravel Fonda which is being launched in 2018. All of this combined will generate a positive impact to the TOV and local businesses. The Town of Vail, as a major stakeholder and partner, will receive a significant sponsorship benefits package spanning marketing, media, PR and hospitality all while placing the Vail Brand center stage. Tenative sponsorship benefits are listed on accompanying PDF emailed to Carlie Smith. As you consider this request, we ask that you take into account the VVF's long term commitment to serve as the local organizer of the Colorado Classic and desire for multiple stages in Vail each year. The Event fills a need period and will drive significant economic impact and community vitality. The cash contribution will be used to help fund a variety of expenses across operations and marketing efforts. The in kind contribution will primarily be used for police support, public works, communications and fire. December 4, 2018 - Pap 211 0 8/22/2018 How does your request support item 1C of the Contribution Policy (See above) : This event helps achieve a positive, sustained economic climate while putting Vail on a global stage in terms of exposure to a very attractive demographic. Please Upload Organization Balance Sheet : Consolidationg Statement of Financial Position (Balance Sheet) for 2019 TOV Funding Application.pdf Please Upload Organization Income Statement : VVF Income Statement _ For TOV 2019 Funding Application.pdf Linked Form : ddressman@vvf.org Submission Date : 2018-06-29 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6785550 Last change : 2018-06-30T03:08:04+0000 December 4, 2018 - Pa0 212 0 Vail Valley Foundation Preliminary - Consolidating Statement of Financial Position May 31, 2018 Vail Valley Foundation Vilar Performing without VPAC Arts Center Vail Valley Operations (VPAC) Foundation Assets Cash and cash equivalents $ 1,863,494 $ 723,620 $ 2,587,113 Accounts receivable, net 18,759 51,485 70,245 Promises to give, net 1,564,527 121,624 1,686,151 Intercompany receivable - 2,882 2,882 Prepaid expenses and other assets 893,430 25,880 919,310 Operating investments 5,262,551 4,666,055 ' 9,928,606 Property and equipment, net: 1,819,564 1,333,987 3,153,551 Goodwill and intangible assets, net 497,065 497,065 Property and equipment, net - limited as to use: - Gerald R. Ford Amphitheater 11,486,273 11,486,273 Vilar Center - Endowment investments 1,441,708 268,159 1,709,867 Total assets $ 24,847,371 $ 7,193,691 $ 32,041,063 Liabilities and Net Assets Accounts payable $ 150,126 $ 4,702 $ 154,828 Accrued expenses and other liabilities 721,500 219,310 940,810 Deferred revenue 3,444,997 135,500 3,580,497 Advance ticket sales 534,659 165,253 699,913 Deferred membership benefits 272,936 272,936 Intercompany payable 183,678 - 183,678 Bonds payable, net of debt issuance costs 4,699,372 4,699,372 Interest rate swap 913,621 913,621 Total liabilities 10,920,889 524,766 11,445,655 Net Assets Total net assets Total liabilities and net assets 13,926,482 6,668,925 20,595,407 $ 24,847,371 $ 7,193,691 $ 32,041,063 December 4, 2018 - Page 213 of 509 Page 1 VAIL VALLEY FOUNDATION For Period June 1, 2017 Thru May 31, 2018 REVENUE Fundraising Arts Athletics Education G&A Total Revenue EXPENSE Fundraising Arts Athletics Education G&A Total Expense CHANGE IN NET ASSETS FROM OPERATIONS CAPITAL EXPENDITURES Sources Uses Net CapEx BOND PRINCIPAL PAYMENT NET CONTRIBUTION BUDGET PRELIMINARY ACTUALS $4,638,350 $7,747,214 $4,993,599 $3,775,399 $117,000 $4,413,156 $7,805,355 $5,305,896 $3,770,465 $55,329 $21,271,562 $21,350,200 ($1,626,016) ($7,752,036) ($4,938,780) ($3,760,339) ($2,901,191) ($1,553,878) ($7,811,290) ($5,126,802) ($3,653,467) ($2,505,626) ($20,978,362) ($20,651,063) $293,200 $699,137 $360,000 ($238,000) $1,133,642 ($1,224,707) $122,000 ($91,065) ($155,000) ($155,000) $260,200 $453,072 December 4, 2018 - Page 214 0 8/24/2018 Vail Valley Foundation Dressman Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Vail Valley Foundation First Name of Contact Person : Dave Last Name of Contact Person : Dressman E-mail Address : ddressman@vvf.org Mailing Address : PO Box 6550 City : Avon State : US -00 Zip : 81620 December 4, 2018 - Pa0 215 0 8/24/2018 Telephone Number : 9707772015 Members and Titles of your Governing Board : Andy Arnold John Arnold Hans Berglund Judy Berkowitz Sam Bronfman Susan Campbell Steve Coyer Andy Daly Ron Davis Matt Donovan Bill Esrey Johannes Faessler Tim Finchem Steve Friedman John Garnsey Margie Gart Donna Giordano Sheika Gramshammer Mike Herman Beth Howard Al Hubbard B.J. Hybl Mike Imhof Chris Jarnot George Johnson Alexia Jurschak Doug Lovell Sarah Millett Ellen Moritz Kaia Moritz Michael Price Eric Resnick Dick Rothkopf Ken Schanzer Mike Shannon Stanley Shuman Rod Slifer Ann Smead Hap Stein Kristin Tang Fred Tresca Stewart Turley Mary Webster Betsy Wiegers Gary Woodworth Directors Emeritus: Adam Aron Marlene Boll Bjorn Erik Borgen Berry Craddock Jack Crosby, In Memoriam President Gerald R. Ford, In Memoriam Harry Frampton, Chairman Emeritus Pete Frechette, In Memoriam John Galvin, In Memoriam George Gillett Pepi Gramshammer Steve Haber Martha Head William Hybl Elaine Kelton Kent Logan Peter May Doug Rippeto Oscar Tang Organization Mission Statement : The Vail Valley Foundation mission is to enhance the quality of life in the Vail Valley through arts, athletics and education. Vail Valley Foundation - Enhancing the quality of life through arts, athletics and education Organization fiscal year-end: : 2019-05-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Signature Events Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $219,500 In- Kind Request : 60,600 Who currently funds your organization? : Town of Vail, Town of Avon, Eagle County, Beaver Creek Resort Company, private donations, ticket sales revenue (as non -limiting examples ticket sales to performances at the Vilar Performing Arts Center and tickets to attend Vail Dance Festival performances, and corporate sponsorships with local, regional and national companies (brands) As non -limiting examples, TIAA Bank, Korbel, GoPro, US Bank, Moe's Original BBQ. How will the contribution be used? : Specific contribution request: $69,500 for Vail Dance Festival $30,000 for GRFA $110,000 for GRFA Videoboard Installation (Capital Improvement Project) $10,000 for VVF Athlete Commission In-kind support of: $5,600 for GRFA & $55,000 for GoPro Mountain Games Please see corresponding PDF document, emailed to Carlie Smith on 6/29/18, for additional detail. How does your request support item 1C of the Contribution Policy (See above) : A positive, sustained economic climate. Please Upload Organization Balance Sheet : Consolidationg Statement of Financial Position (Balance Sheet) for 2019 TOV Funding Application.pdf Please Upload Organization Income Statement : VVF Income Statement _ For TOV 2019 Funding Application.pdf Linked Form : skostick@vvf.org Submission Date : 2018-06-29 Submission Date : Created by : integrations+23268@zenginehq.com December 4, 2018 - Pap 216 0 8/24/2018 Record ID # : 6225236 Last change : 2018-06-29T20:27:33+0000 December 4, 2018 - Pa§@ 217 0 8/22/2018 2019 Burton US Open Snowboarding Championships Heingartner Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : 2019 Burton US Open Snowboarding Championships First Name of Contact Person : Whitney Last Name of Contact Person : Heingartner E-mail Address : whitneyh@burton.com Mailing Address : 80 Industrial Parkway City : Burlington State : US -VT Zip : 05401 December 4, 2018 - Pa0 218 0 8/22/2018 Telephone Number : 8026523770 Members and Titles of your Governing Board : Ian Warda, Senior Director — Global Marketing & Consumer Strategy, Burton Snowboards Marc Murphy, Director — Partnerships, Burton Snowboards Cam Craighead, Senior Manager - Events, Burton Snowboards Whitney Heingartner, Manager — Partnerships, Burton Snowboards James Deighan, Partner, Highline Sports & Entertainment, Inc. Peggy Wolfe, Director of Event, Highline Sports & Entertainment, Inc. Organization Mission Statement : Set the standard for best in class international winter events through superior on -hill venues and high levels of competition, as well as outstanding off -hill entertainment and unique activations while showcasing the partnership between three premium brands in Burton, Town of Vail, and Vail Mountain. Organization fiscal year-end: : 2019-01-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Signature Events Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $490,000 In- Kind Request : Soccer Lot: February 14 — March 8, 2019 - full use of entire lot RV Lot: February 14 — March 8, 2019 - Full use of entire lot for oversized vehicle staging and storage with light operational use. Lot to be managed full time with dedicated Boneyard manager to interface with all vendors, TOV officials and employees, and guests. Who currently funds your organization? : Burton is a privately held company. Highline is a privately held company. The US Open Snowboarding Championships is funded by Burton Snowboards and corporate Partners How will the contribution be used? : The TOV contributions will be used to provide guests of the event and the Town of Vail a high impact / safe winter sport experience to ensure repeat, long-term visits: • Maintain established excellence from past 6 years • Continue development of youth outreach programs • Build upon success of Junior Jam programming • Maximize entertainment efforts at multiple locations • Data collection for post event valuations • Grow sponsorship & B2B opportunities for Burton and TOV • Working towards Burton's 2020 Sustainability Goals • Expansion of event footprint in town How does your request support item 1C of the Contribution Policy (See above) : Burton's commitment with our key Partners to provide a premier event and to uphold our legacy and heritage of the 37th Burton US Open Snowboarding Championships is unwavering. Vail is our home. The 2019 USO will deliver: • Sustainable practices • Increased global awareness • Diverse entertainment and lifestyle attractions • Appropriate and engaged customer base • Encouraged participation from local businesses • A World Class and safe environment for all Please Upload Organization Balance Sheet : APPLICATION FOR TOWN OF VAIL FUNDING.docx Please Upload Organization Income Statement : APPLICATION FOR TOWN OF VAIL FUNDING - Budget.docx Linked Form : whitneyh@burton.com Submission Date : 2018-07-02 Submission Date : 2018-07-02 Created by : integrations+23268@zenginehq.com Record ID # : 6791307 Last change : 2018-07-02T20:23:56+0000 December 4, 2018 - Pap 219 0 8/22/2018 December 4, 2018 - Pa§@ 220 0 APPLICATION FOR TOWN OF VAIL FUNDING Profit & Loss Statement — Current Fiscal Year Budget 2019 US Open Budget Marketing $4,901,000 Marketing Campaign / Media Buy $77,000 Global broadcast production / distribution $892,000 Staffing $770,000 Course / Venue build $433,000 Event infrastructure $580,000 In -town activations $450,000 Security / Police / Medical $119,000 Branding $225,000 Food & Beverage $158,000 Lodging $770,000 Travel $47,000 Shipping / Storage $35,000 Prize Money $345,000 December 4, 2018 - Page 221 0 10/8/2018 HIGHLINE Wolfe Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : HIGHLINE First Name of Contact Person : Peggy Last Name of Contact Person : Wolfe E-mail Address : peggy@gohighline.com Mailing Address : 12 Vail Road, Suite 500 City : VAIL State : US -CO Zip : 81657 December 4, 2018 - Pa0 222 0 10/8/2018 Telephone Number : 9704766797 Members and Titles of your Governing Board : James Deighan Managing Partner Natalie Biedermann Marketing Manager Myriah Blair CFO / Controller Andrea Sbicca Sales/Partnerships/Marketing Eric Slayman Director of Sales & Business Development Greg Schwartz Executive Producer Katie Tille Executive Producer Peggy Wolfe Director of Events Organization Mission Statement : HIGHLINE: To foster a culture in which Highline team members are challenged to excel in providing all customers with exceptional service, extensive knowledge and an unwavering commitment to ethical excellence - not only to complete client satisfaction -but beyond all expectations! Organization fiscal year-end: : 2018-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Signature Events Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $600,000 Who currently funds your organization? : Partners/Sponsors/Corporations How will the contribution be used? : SPRING BACK TO VAIL 2019 April 11-14, 2019 Funding Request = $300,000 Springtime in the Rockies welcomes warmer temperatures, stellar skiing conditions, grilling out at on - mountain decks and, of course, awesome events. Spring Back to Vail is the annual spring bash celebrating the close of the winter season and is all new in 2019. Returning to its roots, Spring Back to Vail will bring the Ford Park concert venue to life with 2 big FREE headliner concerts and plenty more music at Spring Back LIVE! featuring music throughout Town and on mountain for guests and locals to enjoy. Continuing the success from Vail Snow Days, the robust inclusion of retailers, restaurants, bars and galleries in the Savor Vail Program will offer a springtime twist for participation from local businesses. Spring Back to Vail will coordinate lodging deals encouraging longer, multiple night stays to incentivize guests to choose Vail in the spring and take advantage of a multi -layered event weekend. An interactive partner expo village, plenty of parties and offerings around Town and the iconic World Pond Skimming Championships will round out the 2019 Spring Back to Vail. All talent for the 2019 Spring Back to Vail concerts are TBA but past performances include 1,2,3 GO! Project, Grace Potter and the Nocturnals, Portugal, The Man, and !RATION. VAIL SNOW DAYS 2019 December 12-15, 2019 Funding Request = $300,000 Following the revamping of Vail Snow Days 2018, next year's Snow Days will replicate the success of a 4 -day festival early season event model to encourage visitors to choose Vail in December as a destination with more offerings than other mountain resort community. Regardless of the snow depth, the robust and multi -faceted schedule will be designed to attract guests for a long weekend and encourage everyone to #TakeASnowDay! Snow Days LIVE!, a focused effort to showcase music not only at Ford Park with 2 nights of FREE headliner concerts but also in town at bars and restaurants and on mountain will once again be the highlight for Vail Snow Days 2019. The weekend will kick off with the 2nd annual Pray for Snow Bonfire and Celebration of Snow and set the vibe for a weekend of activities on mountain and throughout town with local restaurants, bars, retailers and galleries with the Savor Vail program. Creating specials and packages with hotels and lodging properties will help round out the opportunities for local businesses to actively be a part of the 2019 Vail Snow Days. How does your request support item IC of the Contribution Policy (See above) : SPRING BACK TO VAIL 2019 SAVOR VAIL: Spring Back to Vail will work with local retailers, restaurants, bars and galleries to build a comprehensive experience designed to drive guests into participating businesses. Through a more animated and focused approach with special pricing, creative and unique experiences, and overall re -imagination of customer service, the goal is to give the consumer more reasons to choose Vail as a springtime destination. LODGING COMMUNITY: By creating custom and special pricing on three/four night stays, the lodging community can help the December 4, 2018 - Pap 223 0 10/8/2018 event bring people into Vail and stay longer than the traditional one/two nights over the weekend. The event schedule and offerings will provide the atmosphere and ability for guests to enjoy four days of music, activities, deals and on mountain fun. Both programs and participating businesses will find additional marketing extensions through Spring Back to Vail to enhance their current marketing plans. VAIL SNOW DAYS 2019 SAVOR VAIL: Vail Snow Days will work with local retailers, restaurants, bars and galleries to build a comprehensive experience designed to drive guests into participating businesses. Through a more animated and focused approach with special pricing, creative and unique experiences, and overall re -imagination of customer service, the goal is to give the consumer more reasons to choose Vail as an early winter destination. LODGING COMMUNITY: By creating custom and special pricing on three/four night stays, the lodging community can help the event bring people into Vail and stay longer than the traditional one/two nights over the weekend. The event schedule and offerings will provide the atmosphere and ability for guests to enjoy four days of music, activities, deals and on mountain fun. Both programs and participating businesses will find additional marketing extensions through Vail Snow Days to enhance their current marketing plans. Please Upload Organization Balance Sheet : SB2V19-VSD19_Pro Forma Budget_v1 _09.13.18.pdf Please Upload Organization Income Statement : SB2V19-VSD19_Pro Forma Budget_v1 _09.13.18.pdf Linked Form : peggy@gohighline.com Submission Date : 2018-09-13 Submission Date : 2018-09-13 Created by : integrations+23268@zenginehq.com Record ID # : 8174252 Last change : 2018-09-13T20:41:19+0000 December 4, 2018 - Pa0 224 0 SPRING BACK TO VAIL 2019 PRO FORMA REVENUES: Vail Resorts/Vail Mountain Funding Sponsorships (Net) Town Council Ticket Sales F&B Sales submitted to TOWN COUNCIL [09-13-18] 2019 PRO FORMA SPRING BACK TO VAIL 200, 000.00 25,000.00 300, 000.00 38,500.00 25,000.00 TOTAL REVENUES 588,500.00 EXPENSES: SITE/LOCATION/OPERATIONS 542,510.00 Licenses/Permit/Venue Rentals 1,600.00 Labor 78,375.00 Security/Medical 12,500.00 Event Supplies 3,000.00 Equipment Rental 57,200.00 Talent/Bands/Production 279,660.00 Project Fee 101,500.00 Insurance 8,000.00 Adminstrative 675.00 MARKETING SPONSORSHIP IMPLEMENTATION/FULFILLMENT BRANDING FOOD AND BEVERAGE TRAVEL/LODGING TOTAL EXPENSES NET PROFIT (LOSS) 2,650.00 8,250.00 8,000.00 20, 725.00 7,250.00 589,385.00 (885.00) December 4, 2018 - Page 225 0 VAIL SNOW DAYS 2019 PRO FORMA REVENUES: Vail Resorts/Vail Mountain Funding Sponsorships (Net) Town Council Ticket Sales F&B Sales submitted to TOWN COUNCIL [09-13-18] 2019 PRO FORMA VAIL SNOW DAYS 200,000.00 20,000.00 300,000.00 35,000.00 25,000.00 TOTAL REVENUES 580,000.00 EXPENSES: SITE/LOCATION/OPERATIONS 532,425.00 Licenses/Permit/Venue Rentals 1,600.00 Labor 71, 750.00 Security/Medical 10,500.00 Event Supplies 3,000.00 Equipment Rental 43,600.00 Talent/Bands/Production 295,100.00 Project Fee 99,700.00 Insurance 6,500.00 Adminstrative 675.00 MARKETING SPONSORSHIP IMPLEMENTATION/FULFILLMENT BRANDING FOOD AND BEVERAGE TRAVEL/LODGING TOTAL EXPENSES NET PROFIT (LOSS) 3,650.00 7,750.00 9,000.00 20,725.00 6,900.00 580,450.00 (450.00) December 4, 2018 - Page 226 0 8/22/2018 Colorado Snowsports Museum and Hall of Fame Campbell Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Colorado Snowsports Museum and Hall of Fame First Name of Contact Person : Liz Last Name of Contact Person : Campbell E-mail Address : liz@snowsportsmuseum.org Mailing Address : 231 S. Frontage Road East City : Vail State : US -CO Zip : 81657 December 4, 2018 - Pa0 227 0 8/22/2018 Telephone Number : 9704761876 Members and Titles of your Governing Board : Chairman: Jamie Duke Vice Chair: Diane Boyer Treasurer: Kent Erickson Secretary: Dean Ericson Members: Todger Anderson, Hart Axley, Brenda Buglione, Trent Bush, Lucy Davis, Andy Franklin, Dave Gorsuch, Jeff Gorsuch, Tom Hames, Bill Jensen, Cindy Nelson, Larry Olson, and Bill Tomcich Organization Mission Statement : To celebrate snowsports by telling stories that inspire others to seek adventure. Organization fiscal year-end: : 2019-04-30 Are your books audited? : No What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $55,000 In- Kind Request : $9,000 in-kind rent and two additional Silver parking passes. Who currently funds your organization? : The Colorado Snowsports Museum receives funding from six primary sources: 1. Net proceeds from special events (Annual Hall of Fame Induction Gala, Golf Tournament, and Tenth Dinner and plus private group facility rentals) 2. Unrestricted operating grants (Town of Vail, Vail Resorts Epic Promise, and National Endowment for the Humanities) 3. Individual's annual memberships and gifts, 4. Museum Gift Shop net proceeds. 5. In -Kind services. The Museum receives favorable rent from Town of Vail after trading the building it owned on the corner of East Meadow Drive and Vail Road during redevelopment. EFF Productions and Vail Resorts Epic Promise also provide substantial in-kind support. 6. Proceeds from project -specific restricted grants. How will the contribution be used? : The Council Contribution will be used for year-round daily operations (10 am - 6 pm) of our newly transformed museum, its exhibits and our expanded weekly educational programming in lieu of charging visitors an admittance fee. Expanded programming will include a new digital scavenger hunts for t'weens and groups that will take users on an adventure through skiing history and Vail's landmarks, and new weekly presentations with speakers and ski films. How does your request support item 1C of the Contribution Policy (See above) : In June of 2018, the Colorado Snowsports Museum celebrated the grand reopening of this exceptional cultural and educational facility, featuring six eye-popping new exhibits. Funded primarily through private donations, the $2.5 million transformation features state-of-the-art exhibits, showcasing and chronicling the rich history and heritage of the Colorado ski and snowboard industry. In addition to the centerpiece 10th Mountain Division exhibit, generously underwritten by the Town of Vail, along with the Vail's DNA exhibit, the Museum features five additional exhibits, complete with interactive media components, that has positioned the Colorado Snowsports Museum as the most complete, entertaining and interactive ski museum in the world. The unique interactive tables and walls encourage repeat visitation, as one visit will most certainly not be sufficient to take in all of the in-depth "dig deeper" opportunities that the new technology allows the Museum to present. The highly entertaining and informative new Museum adds vibrancy and diversity to Vail, especially during the off seasons, when fewer establishments are open. Its location, at the gateway to the village core, makes it a "must see" adventure, providing visitors with a sense of a shared community as they learn of Vail's origins and the history of skiing and snowboarding in Colorado. In addition to entertaining daily visitors, the Museum also hosts field trips for students from elementary, middle and high schools in the region, as well as groups such as Eagle County Seniors, foreign delegations curious about the evolution of snowsports in Colorado or those that have a specific interest in the 10th Mountain Division and World War II. The Museum's 10th Mountain Division exhibit is the largest of its kind in the United States, and the only one in December 4, 2018 - Pap 228 0 8/22/2018 Colorado. Since its inception in 1976, the Museum has become the go -to resource on Vail's history, answering countless requests for information and historical photos to accompany articles. The Museum is also available for special events for various community and private groups, seeking a venue that is easily accessible, truly unique and affordable. The fact that the Colorado Snowsports Museum calls Vail home reinforces the fact that this community serves as the epicenter of Colorado skiing and snowboarding, which in turn, provides significant benefit to all aspects of the Vail economy and the quality of life for all residents of Vail and our guests. Please Upload Organization Balance Sheet : Balance Sheet.pdf Please Upload Organization Income Statement : Standard Profit and Loss summary.pdf Linked Form : museum@snowsportsmuseum.org Submission Date : 2018-06-28 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6764475 Last change : 2018-06-28T18:13:52+0000 December 4, 2018 - Pa0 229 0 5:04 PM 06/27/18 Accrual Basis Colorado Snowsports Museum and Hall of Fame Balance Sheet As of April 30, 2018 Apr 30, 18 ASSETS Current Assets Checking/Savings 1494 • Cash & cash equivalents 1119 • 1st Bank Capital Account 9989 1111 • Alpine Bank Cap Campaign 7299 1105 • Chk 1stBank #229-051-7860 1115 • 1stBank Artifact #229-401-3093 1140 • 1stBank Endwmnt # 229-657-4416 1170 • Register cash 1175 • Petty Cash Total 1494 • Cash & cash equivalents Total Checking/Savings Accounts Receivable 1300 • Accounts Receivable 1310 • Accounts Receivable Total 1300 • Accounts Receivable Total Accounts Receivable Other Current Assets Other Currents Assets 1488 • Prepaid Expenses - HOF 1489 • Prepaid Expenses 1491 • Retail Inventory Asset Total Other Currents Assets Total Other Current Assets Total Current Assets Fixed Assets Collections 1405 • Rare Artifacts - Vintage Gear 1401 • Jacques Parker Art Total Collections Property and Equipment SOAC EXHIBIT 1400 • Furniture & Fixtures 1402 • Accum. Depreciation 1403 • Accum Deprec - SOAC Total Property and Equipment Total Fixed Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 1500 • Accounts Payable 380,282.36 4,156.31 157,402.76 92,997.88 96,240.04 300.00 100.00 731,479.35 731,479.35 510,772.00 510,772.00 510,772.00 10,000.00 839.88 46,602.43 57,442.31 57,442.31 1,299,693.66 5,100.00 40,000.00 45,100.00 105,127.51 56,660.50 - 98,379.53 -105,127.51 - 41,719.03 3,380.97 1,303,074.63 22,923.06 Page 1 of 2 December 4, 2018 - Page 230 0 5:04 PM 06/27/18 Accrual Basis Colorado Snowsports Museum and Hall of Fame Balance Sheet As of April 30, 2018 Apr 30, 18 22,923.06 Total Accounts Payable Other Current Liabilities First Bank Install Loan 2794 Gift Certificates Other Current Liability 2100 • Payroll Liabilities 2115 • Futa Tax Payable 2120 • Suta Tax Payable Total 2100 • Payroll Liabilities 2200 • Sales Tax Payable Total Other Current Liability Total Other Current Liabilities Total Current Liabilities Total Liabilities Equity 3905 • Temp Restricted - Museum Expans 3900 • Retained Earnings 3902 • Temporarily Restricted RE 3903 • Permanently Restricted Net Income Total Equity TOTAL LIABILITIES & EQUITY 498,000.00 375.00 25.21 97.69 122.90 367.36 490.26 498,865.26 521,788.32 521,788.32 471,386.33 321,259.04 34,730.00 580.00 -46,669.06 781,286.31 1,303,074.63 Page 2of2 December 4, 2018 - Page 231 0 5:09 PM 06/27/18 Accrual Basis Colorado Snowsports Museum and Hall of Fame Profit & Loss May 2017 through April 2018 Note: Closed for Construction May -February May '17 - Apr 18 Ordinary Income/Expense Income EVENTS 4030 • Event Income 4032 • Hall of Fame Banquet 40327 • Auction Proceeds 20,719.75 40323 • Ticket/Table Sales 102,990.00 Total 4032 • Hall of Fame Banquet 123,709.75 4030 • Event Income - Other 18,640.00 Total 4030 • Event Income 142,349.75 Total EVENTS 142,349.75 COLLECTION/FACILITY USE 4092 • Photo/Media Use Revenue 1,220.00 4046.6 • Educational Program Income 100.00 4090 • Receptions Income 7,150.00 4055 • HOF TV Program 27,000.00 Total COLLECTION/FACILITY USE 35,470.00 GRANTS 4210 • Town of Vail Rent In -Kind 9,000.00 4048.1 • Government Grants 44,566.00 4046 • Other Grants Total 4046 • Other Grants Total GRANTS 53,566.00 CASH CONTRIBUTIONS/IN-KIND 4041 • Contributions 4010 • Admissions Income 1,623.43 4048 • Donations - Cash/CC 4048a • Donations Cash-Artifact/HOF 145.57 4048b • Donations Cash -Museum & Gift Sh -39.60 4048 • Donations - Cash/CC - Other 2,122.56 Total 4048 • Donations - Cash/CC 2,228.53 Total 4041 • Contributions 3,851.96 4200 • In -Kind Donations 4212 • In -Kind Services Provided Total 4200 • In -Kind Donations 4095 • Other Income 4098 • Interest Income Total 4095 • Other Income CASH CONTRIBUTIONS/IN-KIND - Other Total CASH CONTRIBUTIONS/IN-KIND 5,322.54 MEMBERSHIPS 4060 • Membership Income 4062 • Individuals 73,758.00 4064 • New Memberships 100.00 0.00 718.50 718.50 552.08 552.08 200.00 Page 1 of 2 December 4, 2018 - Page 232 0 5:09 PM 06/27/18 Accrual Basis Colorado Snowsports Museum and Hall of Fame Profit & Loss May 2017 through April 2018 Note: Closed for Construction May -February May '17 - Apr 18 Total 4060 • Membership Income 73,858.00 Total MEMBERSHIPS 73,858.00 MUSEUM GIFT SHOP 4070 • Retail Income 4080.9 • Shipping and Handling 235.00 4083 • Retail POS Sales 19,352.30 Total 4070 • Retail Income 19,587.30 Total MUSEUM GIFT SHOP 19,587.30 Total Income 330,153.59 Cost of Goods Sold EVENT EXPENSE 6120 • Event Expenses 6133 • Hall of Fame Expenses 68,461.88 6120 • Event Expenses - Other 2,075.00 Total 6120 • Event Expenses 70,536.88 Total EVENT EXPENSE 70,536.88 FACILITY/COLLECTION USE EXPENSE 6275 • Receptions Expenses 4,643.11 TV Show COGs 6025 • Television Production Costs 8,000.00 Total TV Show COGs 8,000.00 Total FACILITY/COLLECTION USE EXPENSE 12,643.11 MUSEUM GIFT SHOP EXPENSE 5000 • Retail Expenses Vendor Discounts -134.07 Document Offset 879.78 5005 • COGS Retail POS 7,145.57 5016 • Vendor Shipping Charges 3,167.76 5017 • Supplies 2,439.21 5025 • Customer Shipping Charges 96.50 Total 5000 • Retail Expenses 13,594.75 6201 • Cash over/short 19.02 Total MUSEUM GIFT SHOP EXPENSE 13,613.77 Total COGS 96,793.76 Gross Profit 233,359.83 Expense Total BANKING FEES 6,859.22 Total FACILITY/PROGRAMMING 41,916.06 Total ADMINISTRATION 12,223.27 Total STAFF & CONTRACTORS 171,040.98 Total Expense 232,039.53 Net Ordinary Income 1,320.30 Page 2of2 December 4, 2018 - Page 233 0 8/24/2018 Betty Ford Alpine Gardens Ripley Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Betty Ford Alpine Gardens First Name of Contact Person : Nicola Last Name of Contact Person : Ripley E-mail Address : nicola@bettyfordalpinegardens.org Mailing Address : 522 South Frontage Road East City : Vail State : US -CO Zip : 81657 December 4, 2018 - Pa0 234 0 8/24/2018 Telephone Number : 9704760103 Members and Titles of your Governing Board : Betty Ford, Honorary Director in Memoriam Helen Fritch, President Emerita BOARD OF TRUSTEES Susan Frampton, President Margaret Rogers Vice President Bob Fritch, Treasurer Gwen Scalpello, Secretary Kathy Borgen - Trustee Doe (Dorothy) Browning - Trustee Holly Elliott - Trustee Jeannie Fritch - Trustee Sheika Gramshammer - Trustee Dick Liebhaber - Trustee Jennifer Mason -TOV Liz Paxson - Trustee Carey Firestone Romer - Trustee Organization Mission Statement : To deepen understanding and promote conservation of alpine plants and fragile mountain environments. Organization fiscal year-end: : 2018-09-30 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $75,000 In- Kind Request : 1 winter blue parking pass for Executive Director, continued use of 2 designated parking spots in Ford Park. Who currently funds your organization? : Budget $1.2 million Individual donations 44% gift shops (net) 19% earned income 12 % endowment 3 % town of Vail 12 % grants 10% How will the contribution be used? : RETT Funding Request Situated in Vail's Ford Park, Betty Ford Alpine Gardens (Gardens) is a nationally renowned botanical garden and education center. Voted Number 2 on Trip Advisor for "things to do in Vail' (after skiing Vail Mountain) and with numerous awards, including 2018 Non Profit of the Year by the Vail Valley Partnership, 2018 Plant Select Showcase Garden, 2011 El Pomar Environmental Excellence and 2009 APGA garden Excellence Award, this garden is one of Vails best and most loved assets. Provided free of charge to an estimated 100,000 visitors a year Town of Vail funding is used to maintain and operate the garden and education center. This maintenance includes but is not limited to purchasing tools, fertilizers and soil amendments, adding plant material, maintaining benches and water features and general building upkeep. Maintenance is performed by year round horticultural staff, seasonal staff and interns as well as 50 volunteers that work under staff direction two days a week. This level of care and maintenance and capital investment has elevated about 4 acres of Town of Vail property into a beautiful space with capital assets now valued at $5 million. The Gardens has received the same contribution now for many years, sometimes with a cost of living adjustment. During this time the Gardens has added the Education Center with its surrounding gardens and increased its role in the park as a center for visitor orientation, providing the only restrooms in Ford Park during much of the year. The annual operating budget for the Gardens has more than doubled during this time to $1.2 million. At this time the Gardens is requesting a modest increase in the operating contribution. In addition we are requesting $29,000 in capital funding. Betty Ford Alpine Gardens is currently embarking on an ambitious project to provide greater visitor service and information within the Gardens. Marcella Wells of Wells Resources was engaged to develop an `Interpretive master Plan' that develops educational messaging throughout the outdoor gardens and orientation kiosks at the entrances. This plan is now ready for design and fabrication, estimated at a total of up to $190,000 depending on accurate material quotes and options selected. As part of this process a real need for general information and orientation was realized. We would like to request capital funding to design and fabricate the two orientation kiosks that will be installed at the upper and lower main gated entrances of the Gardens to provide for the needs of the Park visitors embarking on a tour of the facility. Betty Ford Alpine Gardens, an informal learning environment, is responding to many academic and visitor studies of what people want and need. Most importantly, people need to feel comfortable in a space - they need to know where they are and what is available to them. December 4, 2018 - Pa0 235 0 8/24/2018 "When people feel disoriented, it directly affects their ability to focus on anything else; when they feel oriented, the novelty enhances learning" (Falk & Dierking, 2000). Kiosks at the entrances to the Gardens will point people to where they want to go and what is available to them once they enter. Marcella provided the additional detailed information below. Two kiosks are proposed — one for the north entrance and one for the south entrance (subject to Design Review Board review). Each would be an artistic structure with an opportunity for interchangeable information, designed to complement the iconic steel gates: •'/2" Cor -Ten steel with printed texture framework with waterjet cutouts (8' wide x 9' tall x 6' deep) • framed and coated wire -mesh backing plain for mounting • angled louvered awnings (8' wide s 4" thick with 5.5' overhang) • locking, aluminum -frame information case (approximately 24"wide x36" tall) • HPL graphic Welcome Panel (top at approx 6'x8") and interpretive panel (side at approx 48"x36") • six variable -size outdoor acrylic brochure racks Item Unit Price Units Sub -total Design Development and Construction Drawings $130/hour 25 hours $3,250 Content Development (for interpretive panels)* $100/hour 12 hours $1,200 Graphic Design (for interpretive panels)** $130/hour 20 hours $2,600 Fabrication (sides, backing, roof) $6,500 1 $13,000 Interpretive panels (title and main) $1,500 2 $3,000 Locking bulletin board $275 2 $550 Brochure racks $30 12 $360 Installation (concrete and landscaping) $1,000 2 $2,000 Subtotal $25,960 Contingency 10% $2,596 Total $28,556 How does your request support item 1C of the Contribution Policy (See above) : As described above this nationally celebrated garden exemplifies the mission of the Town of Vail by providing the guest with exceptional service, free of charge year round. This service has been significantly enhanced by the new Education Center with all the amenities it offers and with the addition of the new orientation kiosks and associated educational interpretation, the experience will continue to be one of the best Vail offers. A visit to the Gardens, no matter what time of year is an exceptional recreational, cultural and educational opportunity. Please Upload Organization Balance Sheet : Apr 18 Balance Sheet.xlsx Please Upload Organization Income Statement : Apr 18 Summary.xlsx Linked Form : nicola@bettyfordalpinegardens.org Submission Date : 2018-06-29 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6214865 Last change : 2018-06-29T20:57:43+0000 December 4, 2018 - Pa0 236 0 5:33 PM 05/08/18 Accrual Basis Betty Ford Alpine Gardens Balance Sheet As of April 30, 2018 Apr 30, 18 Apr 30, 17 $ Change % Change ASSETS Current Assets Checking/Savings 101 • Unrestricted Funds Paypal 1,509.51 1,735.55 -226.04 -13.02% 105 • Petty Cash 105.5 • Gift Shop Cash 200.00 200.00 0.00 0.0% Total 105 • Petty Cash 200.00 200.00 0.00 0.0% 106 • Total Checking ( for reconcile) 107 • Unrestricted Checking 25,779.26 153,078.66 -127,299.40 -83.16% Total 106 • Total Checking ( for reconcile) 25,779.26 153,078.66 -127,299.40 -83.16% Total 101 • Unrestricted Funds 27,488.77 155,014.21 -127,525.44 -82.27% 120 • Temporarily Restricted Funds 122 • Temp Restricted Checking 122.8 • Education Center Funds- Temp Re 2,214.54 32,423.82 -30,209.28 -93.17% 122 • Temp Restricted Checking - Other 48,359.90 10,000.00 38,359.90 383.6% Total 122 • Temp Restricted Checking 50,574.44 42,423.82 8,150.62 19.21% Total 120 • Temporarily Restricted Funds 50,574.44 42,423.82 8,150.62 19.21% 160 • Investment Funds 165 • Restricted Endowment 165.0 • Permanently Rest. Endowment 483,991.00 445,326.00 38,665.00 8.68% 165.2 • Library Endowment- Perm Rstric 108,879.00 78,989.00 29,890.00 37.84% 165.7 • Escrow for Endow Match 182,883.00 0.00 182,883.00 100.0% 165.8 • Internship Endowment 1,004,952.00 0.00 1,004,952.00 100.0% Total 165 • Restricted Endowment 1,780,705.00 524,315.00 1,256,390.00 239.63% 166.1 • Operating Reserve Fund 398,014.66 144,254.82 253,759.84 175.91% 167.3 • Library Reserve Fund 4,617.00 1,747.00 2,870.00 164.28% Total 160 • Investment Funds 2,183,336.66 670,316.82 1,513,019.84 225.72% Total Checking/Savings 2,261,399.87 867,754.85 1,393,645.02 160.6% Accounts Receivable Pledges Receivable Temp. Restricted Pledges 20,000.00 40,000.00 -20,000.00 -50.0% Total Pledges Receivable 20,000.00 40,000.00 -20,000.00 -50.0% 1200 • Accounts Receivable 251.57 0.00 251.57 100.0% Total Accounts Receivable 20,251.57 40,000.00 -19,748.43 -49.37% Other Current Assets 173 • Gift Shop Inventory 173.2 • School House Inventory 22,154.51 22,716.40 -561.89 -2.47% 173 • Gift Shop Inventory - Other 168,305.38 151,580.71 16,724.67 11.03% Total 173 • Gift Shop Inventory 190,459.89 174,297.11 16,162.78 9.27% Total Other Current Assets 190,459.89 174,297.11 16,162.78 9.27% Total Current Assets 2,472,111.33 1,082,051.96 1, 390, 059.37 128.47% Fixed Assets 177 • Mountain Perrennial Garden 254,006.37 254,006.37 0.00 0.0% 178 • Meditation Garden 145,061.42 145,061.42 0.00 0.0% 179 • Alpine Rock Garden 1,040,384.38 1,040,384.38 0.00 0.0% 182 • Schoolhouse, Plaza, Childrens 1,078,978.97 1,071,842.20 7,136.77 0.67% Page 1 of 2 December 4, 2018 - Page 237 0 5:33 PM 05/08/18 Accrual Basis Betty Ford Alpine Gardens Balance Sheet As of April 30, 2018 Apr 30, 18 Apr 30, 17 $ Change % Change 185 • Library 2,440.97 2,440.97 0.00 0.0% 186 • Himilayan Garden 3,048.47 3,048.47 0.00 0.0% 187 • Water Feature Upgrade 10,231.52 0.00 10,231.52 100.0% 190 • Interpretation/Displays 109,071.25 89,577.13 19,494.12 21.76% 191 • Education Center 3,559,181.64 3,549,139.64 10,042.00 0.28% 192 • Village Gift Shop 16,381.72 16,381.72 0.00 0.0% 193 • Pollinator Garden 10,000.00 0.00 10,000.00 100.0% 194 • Website 9,348.00 9,348.00 0.00 0.0% 195 • Office/Computer Equipment 53,760.33 53,760.33 0.00 0.0% 196 • Accumulated Depreciation -1,441,360.00 -1,255,671.00 -185,689.00 -14.79% Total Fixed Assets 4,850,535.04 4,979,319.63 -128,784.59 -2.59% TOTAL ASSETS 7,322,646.37 6,061,371.59 1,261,274.78 20.81% LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 • Accounts Payable 5,079.49 28,604.24 -23,524.75 -82.24% Total Accounts Payable 5,079.49 28,604.24 -23,524.75 -82.24% Credit Cards 1st Bank Visa 16,033.37 14,917.48 1,115.89 7.48% Total Credit Cards 16,033.37 14,917.48 1,115.89 7.48% Other Current Liabilities Gift Certificates 1,307.75 1,557.49 -249.74 -16.04% 210 • Payroll Liabilities 210.1 • Health Insurance -686.12 -3,002.99 2,316.87 77.15% 210.2 • Co Unemployment 107.72 191.56 -83.84 -43.77% 210.4 • Federal Liabilities 5,418.64 4,086.22 1,332.42 32.61% 210.5 • CO Liabilities 1,623.00 1,173.00 450.00 38.36% 210.6 • Simple Liabilities 4,903.29 3,621.44 1,281.85 35.4% 210.8 • Child Care Liability 0.00 318.56 -318.56 -100.0% 210 • Payroll Liabilities - Other 0.00 -0.50 0.50 100.0% Total 210 • Payroll Liabilities 11,366.53 6,387.29 4,979.24 77.96% 2200 • Sales Tax Payable 1,378.71 1,804.56 -425.85 -23.6% 230A • Accrued Vacation Payable 10,314.05 11,268.37 -954.32 -8.47% 240 • Escrow for Endowment Match 194,000.00 0.00 194,000.00 100.0% Total Other Current Liabilities 218,367.04 21,017.71 197,349.33 938.97% Total Current Liabilities 239,479.90 64,539.43 174,940.47 271.06% Total Liabilities 239,479.90 64,539.43 174,940.47 271.06% Equity 290.1 • Unrestricted Net Assets 3,919,506.41 5,131,281.93 -1,211,775.52 -23.62% 290.2 • Temporarily Restricted Net Asse 263,885.44 234,227.82 29,657.62 12.66% 290.3 • Permanently Restricted Net Asse 1,587,394.00 372,510.83 1,214,883.17 326.13% Net Income 1,312,380.62 258,811.58 1,053,569.04 407.08% Total Equity 7,083,166.47 5,996,832.16 1,086,334.31 18.12% TOTAL LIABILITIES & EQUITY 7,322,646.37 6,061,371.59 1,261,274.78 20.81% Page 2 of 2 December 4, 2018 - Page 238 0 5:19 PM 05/08/18 Accrual Basis Betty Ford Alpine Gardens Summary of Activities April 2018 Apr 18 Budget $ Over Budget % of Budget Oct '17 - Apr 18 YTD Budget $ Over Budget % of Budget Annual Budget Ordinary Income/Expense Income 301 • Operating Income 354 • Total Operating Cash Income 305 • Annual Memberships 625.00 5,000.00 -4,375.00 12.5% 68,982.36 46,500.00 22,482.36 148.35% 90,000.00 305.5 • TOV RETT Funds 0.00 0.00 0.00 0.0% 69,700.00 69,700.00 0.00 100.0% 69,700.00 310 • Garden Donation Boxes 0.00 300.00 -300.00 0.0% 1,130.00 2,250.00 -1,120.00 50.22% 20,000.00 312 • Individual Donations- Operating 2,350.00 6,000.00 -3,650.00 39.17% 307,599.66 154,000.00 153,599.66 199.74% 192,000.00 320 • Operating Grants 0.00 10,000.00 -10,000.00 0.0% 17,962.68 38,701.00 -20,738.32 46.41% 51,201.00 340 • Private Group Tours 0.00 100.00 -100.00 0.0% 760.00 100.00 660.00 760.0% 3,000.00 345 • Facility Use 345.1 • Rental Income- chairs 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.0% 750.00 345 • Facility Use - Other 1,295.00 1,000.00 295.00 129.5% 9,695.00 8,500.00 1,195.00 114.06% 22,500.00 Total 345 • Facility Use 1,295.00 1,000.00 295.00 129.5% 9,695.00 8,500.00 1,195.00 114.06% 23,250.00 347 • Lectures/Workshops 0.00 0.00 0.00 0.0% 1,063.00 2,050.00 -987.00 51.85% 5,000.00 350 • Events & Other Income 350.01 • Plant Sale 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.0% 4,500.00 350.06 • Other FR Events/Programs 0.00 50.00 -50.00 0.0% 364.30 200.00 164.30 182.15% 2,125.00 350.11 • Public Tours 0.00 0.00 0.00 0.0% 460.00 0.00 460.00 100.0% 3,200.00 350.13 • Chef's in the Garden 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.0% 2,300.00 350 • Events & Other Income - Other 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.0% 300.00 Total 350 • Events & Other Income 0.00 50.00 -50.00 0.0% 824.30 200.00 624.30 412.15% 12,425.00 350.09 • Gift Shop & Merch. Sales 350.095 • School House Sales 0.00 0.00 0.00 0.0% 0.00 0.00 0.00 0.0% 102,050.00 350.09 • Gift Shop & Merch. Sales - Other 16,864.75 23,000.00 -6,135.25 73.33% 335,353.57 336,000.00 -646.43 99.81% 600,000.00 Total 350.09 • Gift Shop & Merch. Sales 16,864.75 23,000.00 -6,135.25 73.33% 335,353.57 336,000.00 -646.43 99.81% 702,050.00 352 • Miscellaneous Income 352.1 • Reimbursment Income 0.00 0.00 0.00 0.0% 895.64 65.00 830.64 1,377.91% 550.00 352 • Miscellaneous Income - Other 1,554.61 1,400.00 154.61 111.04% 1,675.23 1,400.00 275.23 119.66% 1,400.00 Total 352 • Miscellaneous Income 1,554.61 1,400.00 154.61 111.04% 2,570.87 1,465.00 1,105.87 175.49% 1,950.00 356 • Qtrly Endowment Distribution 0.00 0.00 0.00 0.0% 0.00 10,500.00 -10,500.00 0.0% 21,000.00 Total 354 • Total Operating Cash Income 22,689.36 46,850.00 -24,160.64 48.43% 815,641.44 669,966.00 145,675.44 121.74% 1,191,576.00 Total 301 • Operating Income 22,689.36 46,850.00 -24,160.64 48.43% 815,641.44 669,966.00 145,675.44 121.74% 1,191,576.00 Page 1 of 2 December 4, 2018 - Page 239 of 509 5:19 PM 05/08/18 Accrual Basis Betty Ford Alpine Gardens Summary of Activities April 2018 Apr 18 Budget $ Over Budget % of Budget Oct '17 - Apr 18 YTD Budget $ Over Budget % of Budget Annual Budget Total Income 22,689.36 46,850.00 -24,160.64 48.43% 815,641.44 669,966.00 145,675.44 121.74% 1,191,576.00 Expense Total 401 • Administration 5,430.75 4,743.39 687.36 114.49% 36,721.56 Total 500 • Gardens 19,704.13 14,067.00 5,637.13 140.07% 105,840.60 Total 550 • Education 29,609.65 20,598.90 9,010.75 143.74% 149,034.03 Total 600 • Development(Fundraising) 10,581.77 6,600.07 3,981.70 160.33% 51,136.49 650 • Gift Shop Costs Total 650.1 • Alpine Treasures 26,757.14 36,808.00 -10,050.86 72.69% 285,971.99 289,573.00 -3,601.01 Total 650.2 • School House 875.85 1,432.00 -556.15 61.16% 2,847.74 Total 650 • Gift Shop Costs 27,632.99 38,240.00 -10,607.01 72.26% 288,819.73 293,097.00 -4,277.27 Total Expense 92,959.29 84,249.36 8,709.93 110.34% Net Ordinary Income 38,426.99 96, 641.00 139, 662.17 46,502.03 -1,705.43 9,199.60 9,371.86 4,634.46 95.56% 109.52% 106.71 % 109.97% 58, 840.86 210,029.00 257, 334.15 83,242.92 98.76% 499,845.00 3,524.00 -676.26 80.81% 80,204.50 98.54% 580,049.50 631, 552.41 614,329.19 17,223.22 102.8% 1,189,496.43 -70,269.93 -37,399.36 -32,870.57 187.89% 184, 089.03 55,636.81 128,452.22 330.88% 2,079.57 Investment Distn (To Op & Lib Reserve) 0.00 Cash Vs Budget -70,269.93 -37,399.36 0.00 -32,870.57 0.0% 187.89% 11,077.10 195,166.13 55,636.81 11,077.10 139, 529.32 100.0% 0.00 350.79% Other Income/Expense Other Income Total 360 • Capital Income 0.00 4,600.00 -4,600.00 0.0% 62,966.52 95,600.00 -32,633.48 65.87% 100,600.00 361 • Investment Income Total Total 386 • Interest Gain/Loss- Investments 12,569.81 6,156.46 6,413.35 204.17% 35,312.28 46,700.96 -11,388.68 75.61% 79,289.04 387 • Donations to Endowment 0.00 0.00 0.00 0.0% 1,037,025.00 0.00 1,037,025.00 100.0% 0.00 Total 361 • Investment Income Total 12,569.81 6,156.46 6,413.35 204.17% 1,072,337.28 46,700.96 1,025,636.32 2,296.18% 79,289.04 Total Other Income 12,569.81 10,756.46 1,813.35 116.86% 1,135,303.80 142,300.96 993,002.84 797.82% 179,889.04 Other Expense 800 • Capital Expenses Total 895 • Capital Cash Expenses 5,000.00 27,100.00 -22,100.00 18.45% 37,287.69 57,600.00 -20,312.31 64.74% 106,600.00 898 • Capitalized Expenditures -5,000.00 -36,862.41 Total 800 • Capital Expenses 0.00 27,100.00 -27,100.00 0.0% 425.28 57,600.00 -57,174.72 0.74% 106,600.00 901 • Investment Management Costs 1,810.48 468.26 1,342.22 386.64% 6,586.93 3,277.82 3,309.11 200.96% 5,619.12 Total Other Expense 1,810.48 27,568.26 -25,757.78 6.57% 7,012.21 60,877.82 -53,865.61 11.52% 112,219.12 Net Other Income 10,759.33 -16,811.80 27,571.13 -64.0% 1,128,291.59 81,423.14 1,046,868.45 1,385.71% 67,669.92 Net Income -59,510.60 -54,211.16 -5,299.44 109.78% 1,312,380.62 137,059.95 1,175,320.67 957.52% 69,749.49 Page 2 of 2 December 4, 2018 - Page 240 of 509 8/24/2018 Eagle River Watershed Council Loff Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Eagle River Watershed Council First Name of Contact Person : Holly Last Name of Contact Person : Loff E-mail Address : loff@erwc.org Mailing Address : PO Box 5740 City : Eagle State : US -00 Zip : 81631 December 4, 2018 - Pa66 241 0 8/24/2018 Telephone Number : 9708275406 Members and Titles of your Governing Board : Larissa Read, President Cliff Simonton, Vice President Jacque Collins, Treasurer Brian Tracy, Secretary Tom Allender, Director Chip Bair, Director Fritz Ganz, Director Kim Gortz, Director Bret Hooper, Director Joe Robinson, Director Woody Woodruff, Director Dr. Tom Steinberg, In Memorium Gary Brooks, Emeritus Pete Denise, Emeritus Joe Macy, Emeritus Susan Pollack, Emeritus Arlene Quenon, Emeritus Organization Mission Statement : Eagle River Watershed Council advocates for the health and conservation of the Upper Colorado and Eagle River basins through research, education, and projects. The Council strives to protect and enhance the high-quality natural, scenic and economic values that our rivers and tributaries provide to the citizens, visitors and wildlife of the Eagle River and Colorado River watersheds located in Eagle County. Organization fiscal year-end: : 2018-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $42,000 Who currently funds your organization? : State of Colorado- Colorado Water Conservation Board, Eagle County, Eagle River Water & Sanitation District, Upper Eagle Regional Water Authority, Town of Avon, Town of Eagle, Town of Gypsum, Town of Minturn, Town of Vail, Edwards Metro District, National Forest Foundation, Vail Resorts, Colorado River District, Homestake Partners, Eagle Park Reservoir Co., local businesses and individuals. How will the contribution be used? : Eagle River Watershed Council takes a holistic approach to protecting the streams of Eagle County, including Gore Creek and its tributaries, through monitoring water quality, educating the community and conducting restoration projects. More specifically, the contribution from the Town of Vail is used for the following programs and projects. Water Quality Monitoring & Assessment Program (WQMAP) ($12,000). This program coordinates water quality and biological data collection to identify trends in water quality over time. The Watershed Council coordinates this program which establishes a partnership with Eagle County, USGS, the Colorado River District, Eagle River Water & Sanitation District and other municipal and agency stakeholders to provide a central and easily -accessible repository for the data. This ensures that data collection is not duplicative nor that there are gaps in the monitoring effort. Funding supports the coordination of data collectors, data analysis, annual reporting to stakeholders and the community, a shared database, and the maintenance/updating of an interactive web -based annual report card with graphical interpretations of the data. Additional support comes from Eagle River Water & Sanitation District, Upper Eagle Regional Water Authority, Homestake Partners (Aurora and Colorado Springs), Denver Water, Vail Resorts, Battle Mountain, the Towns of Gypsum, Eagle, Avon, and Minturn, and the Colorado River Water Conservation District. Note: This program was previously referred to as "Collaborative action monitoring (regional project)." Community Pride Highway Cleanup ($1,000) & Eagle River Cleanup ($1,000) (total=$2,000). The coordination of these two annual cleanup events requires event marketing and planning, as well as volunteer recruitment and management of a total of over 1,300 volunteers. Last spring, 12 tons of trash were collected along 140 miles of highways by the volunteers. River Cleanup teams cover about 70 miles of river and streams each fall. These popular events build community throughout the entire Eagle Valley, giving participants a feeling of ownership in maintaining our environment. A further, and obvious, benefit is the beautification of the valley for the arrival of summer guests, and the removal of trash and other pollution from our rivers at the end of summer recreation just in time for a busy winter ski season. Additional support comes from local businesses, individuals, corporations, clubs, foundations, Eagle County and local municipalities. Sediment source monitoring (TMDL) and Bio -monitoring of Gore/Black Gore Creeks ($14,000). Eagle River Watershed December 4, 2018 - Pa§6 242 0 8/24/2018 Council coordinates the activities of the Black Gore Creek Steering Committee, a broad-based community group dedicated to ensuring the aquatic health of Black Gore Creek and the safe operation of the interstate beside the stream. A tributary to Gore Creek, Black Gore Creek flows approximately 10 miles along Interstate 70 and was placed on the State of Colorado's list of impaired streams in 2002. The impaired condition is the result of sediment loading sourced from winter highway maintenance activities. In 2014, Black Gore Steering Committee determined that annual sediment monitoring on Black Gore Creek could be reduced to occur every other year as the results were not changing significantly from year to year. This allowed the Watershed Council to reallocate the funds for monitoring in the off years to bio -monitoring on other Gore Creek tributaries near Vail. Macroinvertebrate data collected on tributary streams is an important indicator of relationships between land use and surface water quality. This monitoring may also form the basis for long-term assessments of water quality conditions following implementation of recommendations included in the Gore Creek Strategic Plan. Eagle River Integrated Water Management Plan (ER-IWMP) ($5,000) will develop proactive water management recommendations that anticipate changes to local hydrology due to 1) population growth and increasing municipal demand for water in Eagle County, 2) climate change, and 3) projects related to the Eagle River MOU (ERMOU), an intergovernmental agreement for developing municipal water supplies in the upper Eagle River watershed. The ER-IWMP will be developed through a stakeholder process with local conservation organizations, state and federal agencies, recreational users, ERMOU partners, commercial fishing/rafting guides, local municipalities (including the Town of Vail), agricultural, and other local stakeholders to develop strategies that can respond to these changes in a way that helps meet municipal demands, while maintaining and improving ecological attributes in the Eagle River watershed, including Gore Creek. The ER-IWMP will integrate both consumptive and non -consumptive water uses to ensure that all existing and future uses are considered. The ER-IWMP will safeguard the interests of the community and extended stakeholders, which include the environmental and recreational use needs. General operating support ($9,000) allows Eagle River Watershed Council to allocate funds for new projects and provides the flexibility to shift funds quickly as issues arise. General operating support also allows the Watershed Council to collaborate on numerous projects where our input is vital, but where we are not the lead organizer and therefore do not have a restricted fund available for that program or activity. This is the case for participation in many initiatives including the Colorado Basin Roundtable, Western Slope Integrated Water Management, and the Eagle County Wildfire Council. The Town of Vail is joined in its operating support of Eagle River Watershed Council by private foundations, Eagle County, local municipalities, Eagle River Water and Sanitation District (ERWSD), Upper Eagle Regional Water Authority (UERWA), local businesses, and individuals. How does your request support item 1C of the Contribution Policy (See above) : The health of Gore Creek is important to the Town of Vail's full-time residents as well as to seasonal homeowners and visitors. Our recreation - based economy relies upon excellent water quality and quantity and people expect to see a beautiful stream and drink clean water when they are in Vail. Eagle River Watershed Council works in partnership with the Town to ensure that Gore Creek is observed, monitored, protected from future impacts and that past degradations are addressed and water quality is restored. Without such efforts, the diverse economy and community will not continue to grow and citizens and guests will begin to see a decline in their recreational opportunities. We champion the work that the Town has done already to improve conditions on Gore Creek and we strive to continue being an active partner. Please Upload Organization Balance Sheet : Balance Sheet 5.31.18.pdf Please Upload Organization Income Statement : P&L 5.31.18.pdf Linked Form : loff@erwc.org Submission Date : 2018-06-25 Submission Date : Created by : integrations+23268@zenginehq.com December 4, 2018 - Pa§6 243 0 8/24/2018 Record ID # : 6227515 Last change : 2018-06-25T16:49:21+0000 December 4, 2018 - Pad6 244 0 10:48 AM Eagle River Watershed Council, Inc. 06/25/18 Balance Sheet Accrual Basis As of May 31, 2018 May 31, 18 ASSETS Current Assets Checking/Savings 265,153.52 Accounts Receivable 48,750.00 Other Current Assets 3,955.83 Total Current Assets 317,859.35 TOTAL ASSETS 317,859.35 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 3,434.92 Other Current Liabilities 18,998.43 Total Current Liabilities 22,433.35 Total Liabilities 22,433.35 Equity 3100 • Unrestricted Retained Earnings 3000 • Restricted Retained Earnings Net Income Total Equity TOTAL LIABILITIES & EQUITY 73,058.17 109,784.69 112,583.14 295,426.00 317,859.35 Page 1 December 4, 2018 - Page 245 0 10:41 AM Eagle River Watershed Council, Inc. Profit & Loss January through May 2018 06/25/18 Accrual Basis Ordinary Income/Expense Income 4000 • INDIVIDUALS 4100 • BUSINESS 4200 • GOVERNMENT 4300 • FOUNDATION 4400• EVENTS 4700 • RESTRICTED PROJECT FUNDS 4900 • OTHER Total Income Gross Profit Expense 6000 • Salaries 6050 • Payroll Taxes and Benefits 6100 • QuickBook Payroll Expenses 6105 • Accounting 6106 • Auditing 6110 • Dues/Fees/Subscriptions 6130 • Office Rent 6131 • Utilities 6135 • Telephone 6140 • Office Supplies 6145 • Bank Charges 6150 • Copier/Printing 6155 • Postage 6160 • Information Technology 6170 • Professional Development 6175 • Mileage & Travel 6180• Insurance 6185 • Meeting/Food/Beverage 6190 • General Marketing/Paid Adv. 6200 • Miscellaneous Expense 6300 • Development/Fundraising 6405 • Consultant/Contractor fees 6400 • Project Specific Expenses Total Expense Net Ordinary Income Net Income Jan - May 18 3,604.80 23,670.20 19,250.00 255.00 24,139.41 174,200.00 113.69 245,233.10 245,233.10 71,761.66 8,065.28 89.00 4,500.00 4,750.00 749.00 7,450.00 225.00 1,417.90 121.55 266.55 1,393.78 166.19 179.99 1,425.00 2,050.55 724.17 566.18 2,375.64 53.87 1,155.32 21,045.33 2,118.00 132,649.96 112,583.14 112,583.14 Page 1 December 4, 2018 - Page 246 0 8/22/2018 EGE Air Alliance Romer Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : EGE Air Alliance First Name of Contact Person : Chris Last Name of Contact Person : Romer E-mail Address : cromer@visitvailvalley.com Mailing Address : PO Box 1130 City : Vail State : US -00 Zip : 81658 December 4, 2018 - Pa64 247 0 8/22/2018 Telephone Number : 9704774016 Members and Titles of your Governing Board : Mike Brumbaugh, owner, Venture Sports (Chair) Mike Brown, regional president, Alpine Bank (Treasurer) Jen Brown, managing director, Beaver Creek Resort Company Gabe Shalley, airline marketing manager, Vail Resorts (Executive committee) Peter Dann, executive vice president, East West Destination Hospitality Amy Phillips, town councilor, Town of Avon John Shipp, owner, Roadhouse Hospitality Group Jean Alexander, senior sales manager, Sebastian Vail Greg Moffet, town councilor, Town of Vail Jeremy Reitmann, town manager, Town of Gypsum Kathy Chandler -Henry, commissioner, Eagle County Jason Cole, vice president, Slifer Smith & Frampton Organization Mission Statement : To build a robust flight program at the Eagle County Regional Airport Organization fiscal year-end: : 2018-12-31 Are your books audited? : No What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $75,000 In- Kind Request : VLMD marketing support Who currently funds your organization? : Eagle County; Towns of Vail, Gypsum, Eagle, Avon; Vail Resorts; +/- 70 other local businesses How will the contribution be used? : Funding will support the Washington, Phoenix, and Dallas, markets, which are estimated to bring in 11,149 new passengers through the Eagle County Regional Airport. Based on the RRC Associates intercept study, EGE winter users spend an average of $2,002 per guest and summer guests spend an average of $1,257, resulting in an estimated economic impact to Eagle County's economy as a direct result of the MRG markets $16,492,094. How does your request support item 1C of the Contribution Policy (See above) : Yes Please Upload Organization Balance Sheet : Eagle Air Alliance 05-18 FS.pdf Please Upload Organization Income Statement : Eagle Air Alliance 05-18 FS.pdf Linked Form : cromer@visitvailvalley.com Submission Date : 2018-06-22 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6744003 Last change : 2018-06-22T14:39:44+0000 December 4, 2018 - Pa§4 248 0 EAGLE AIR ALLIANCE WORKING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN NET ASSETS (CASH BASIS) BUDGET, ACTUAL AND FORECAST FOR THE PERIODS INDICATEE Printed: DRAFT 6/1/2018 Cal Yr 2017 Actual Cal Yr 2018 Variance Cal Yr Preliminary Favor 2018 Budget (Unfavor) Forecast 5 Mo Ended 05/31/18 Actual Cal Yr 2019 Prelim Budget Revenues Private Sector Fund Raising 152,500 150,000 6,050 156,050 108,750 156,050 Public Sector Fund Raising 400,000 400,000 0 400,000 250,000 400,000 Research Contribution 0 0 0 0 0 Interest Income 1,329 1,000 0 1,000 389 500 Total Revenues 553,829 551,000 6,050 557,050 359,139 556,550 Expenditures Administration Admin Expenses - VVP 32,500 32,500 0 32,500 0 32,500 Admin Expenses - Magellan/Summit Info 10,000 0 0 0 0 0 Accounting 6,000 6,000 0 6,000 2,500 6,000 Business Expenses 6,247 10,000 0 10,000 36 20,000 Legal Fees 10,576 10,000 0 10,000 0 5,000 Administrator 0 0 0 0 0 0 Total Administration 65,323 58,500 0 58,500 2,536 63,500 Marketing and Research Public Awareness Campaign 2,285 20,000 0 20,000 14,512 20,000 EGE Comminunity Awareness Survey 0 0 0 0 0 0 Summer Intercept Survey 0 0 0 0 0 0 Winter Intercept Survey 8,800 13,600 400 13,200 13,200 0 Total Marketing and Research 11,085 33,600 400 33,200 27,712 20,000 Flight Guarantees Flight Guarantee Toronto 29,222 30,000 778 29,222 0 30,000 Flight Guarantee Houston 95,782 218,037 122,256 95,781 0 218,037 Flight Guarantee Dallas - Fall 0 60,000 (55,000) 115,000 115,000 115,000 Flight Guarantee Dallas - Spring 60,000 0 60,000 60,000 Flight Guarantee Phoenix 95,000 50,000 45,000 95,000 Flight Guarantee Washington DC 300,976 418,000 117,024 300,976 0 418,000 Flight Guarantee Other 0 0 0 0 Total Flight Guarantees 425,979 881,037 235,058 645,979 115,000 936,037 Contingency Total Expenditures 502,387 973,137 235,458 737,679 145,247 1,019,537 Revenues over (under) Expenditures 51,442 (422,137) 241,508 (180,629) 213,891 (462,987) Beginning Net Assets 739,507 675,948 115,001 790,949 790,949 610,320 ENDING NET ASSETS 790,949 253,811 356,509 610,320 1,004,840 147,333 STATEMENT OF ASSETS, LIABILITIES AND NET ASSETS (CASH BASIS) May 31, 2018 ASSETS Current Assets: Cash - Checking Cash - Money Market Flight Guarantees Fund Total Cash in Bank Accounts Receivable (Deps in Transit) 2017 05/31/18 LIAB & NET ASSETS 2017 05/31/18 Liabilities: 84,298 162,800 Accounts Payable 0 0 214,996 215,102 491,656 626,939 790,949 1,004,840 Total Liabilities 0 0 Net Assets 0 0 Restricted - Flight Guare 491,656 626,939 Unrestricted 299,293 377,902 Total Net Assets 790,949 1,004,840 TOTAL ASSETS 790,949 1,004,840 Total Liabilities & Net / 790,949 1,004,840 No assurance is provided on these financial statements; substantially all disclosures ordinarily included in cash basis financial statements have been omitted. December 4, 2018 - Page 249 0 8/22/2018 Bright Future Foundation for Eagle County Mintz Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Bright Future Foundation for Eagle County First Name of Contact Person : Sheri Last Name of Contact Person : Mintz E-mail Address : sheri@mybrightfuture.org Mailing Address : PO Box 2558 City : Avon State : US -00 Zip : 81620 December 4, 2018 - PaO 250 0 8/22/2018 Telephone Number : 9707637203 Members and Titles of your Governing Board : Winslow Blankenship, MD: Director Doe Browning: Director Sharon Dennis: Director Cindy Engles: Director Craig Ferraro: Director Yvonne Jacobs: Director Sheri Mintz, LCSW: Executive Director Honorable R. Thomas Moorhead: Vice President Rachel Nelson: Director Tyler Stonum: Director Steve Suggs: Director Lissa Tyler: President Mia Vlaar: Director Colleen Weiss-Hanen, Treasurer/Secretary Deborah Wittman: Director Susan Frampton: Board Chair Emeritus Craig Cormack: Board Chair Emeritus Organization Mission Statement : Bright Future Foundation "Makes Futures Bright" for survivors of domestic violence and sexual assault in the Vail Valley. We accomplish our mission by empowering individuals and families affected by domestic violence and sexual assault to lead safe, productive lives through prevention, advocacy, crisis intervention and long-term healing services. As Eagle County's only domestic violence and sexual assault community response organization, we strive to break the generational cycle of violence by delivering programs that provide both immediate relief and long-term support to families in need, through the provision of holistic professional services. Our goal is to create sustainable emotional and behavioral change in survivors and their families as well as long-term financial stability. Our staff utilize proactive and culturally sensitive services that include: a 24/7 crisis hotline (English & Spanish), safehouse/emergency shelter, rapid rehousing and housing stabilization, advocacy, counseling and psychological services, legal services, youth mentorship, and violence prevention/education. For nearly 35 years, Bright Future has served our most vulnerable residents as well as families experiencing a domestic violence and/or sexual assault incident while visiting our resort community. Organization fiscal year-end: : 2018-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $100,000 Who currently funds your organization? : 45% of our funding comes from government sources including Eagle County Government, the Town of Avon, the Town of Minturn and a variety of state funders from the Colorado Department of Human Services and the Department of Criminal Justice. The remaining 55% is a combination of foundation grants, donor contributions, special events revenue and support from local business. More detail can be found on our Profit and Loss Statement. How will the contribution be used? : Bright Future Foundation has embarked on a capital campaign to build a new emergency housing facility to shelter individuals and families fleeing domestic violence and sexual assault. In 2002, Bright Future secured a facility from Eagle County Government and entered into a lease for a term of $1 per year. This became our current emergency housing facility, the Freedom Ranch Safehouse. Due to proximity to airport operations, our lease with Eagle County Government will end at the end of 2018. In our time at Freedom Ranch, Bright Future has provided over 31,000 nights of safe and secure shelter for over 1300 women and children. Approximately 10% of those we serve come to us from the Town of Vail. In August 2017, our Board of Directors embarked on the campaign to build a new facility that will be welcoming to all survivors, regardless of gender, their families and pets. The "BrightHouse" will house up to 24 survivors of domestic violence and sexual abuse. Living spaces will allow for family privacy as well as for shared living areas to encourage community connectiveness. There will be safe outdoor play areas for children and gardens that promote well being. Additionally, we will have enhanced security systems to ensure safety for our vulnerable families. Our fundraising goal is 2.2K. Though the enormous generosity of a private donor we launched the campaign with a $1 K pledge. In the present phase of our fundraising effort, we are asking each of the municipalities that we serve and as well as December 4, 2018 - Pa0 251 0 8/22/2018 Eagle County Government to financially commit to the BrightHouse campaign. We will next be approaching state funding sources including government entities and private foundations. To that end, it is imperative that we show local financial support. It is crucial that each municipality recognize and prioritize the important work of Bright Future Foundation. Our campaign will extend for a three year period and pledges can be paid in installments. We have identified a location for the project and anticipate breaking ground in the spring of 2019. How does your request support item 1C of the Contribution Policy (See above) : A financial commitment from the Town of Vail is an investment in BFF's work to end the cycle of violence in our community. BFF's programs directly align with the Town of Vail's vision to enable residents and guests alike to experience exemplary services. While no one aspires to be in need of emergency shelter due to domestic violence or sexual assault, the sad reality is that this is a growing need for both residents and guests to our resort community. If Bright Future did not offer safe harbor to victims, this would add an undue burden to law enforcement. Bright Future has a strong and collaborative relationship with Vail PD. Over the years we have had several board members from the ranks of Vail PD including Commanders Daric Harvey and Joe Ribero. When community partners work together to assist victims of violence, we ensure the safety and well-being of all community residents. A grant commitment from the Town of Vail will ensure victims in Vail and throughout the Eagle River Valley have a safe place to turn in times of need. Bright Future strives to offer a continuum of services designed to meet the diverse needs of survivors of violence. From crisis intervention, to therapy, legal counsel, safe living situations and family support, all wrap-around services are provided within one organization where clients learn to trust and grow. Bright Future's emergency shelter is the only emergency shelter in Eagle County and is essential for the well-being of the community. Please Upload Organization Balance Sheet : BFF_May_18_Balance Sheet.pdf Please Upload Organization Income Statement : BFF_May_18_P&L.pdf Linked Form : sheri@mybrightfuture.org Submission Date : 2018-06-27 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6761678 Last change : 2018-06-27T20:07:17+0000 December 4, 2018 - Pa0 252 0 12:22 PM 06/18/18 Accrual Basis Bright Future Foundation Balance Sheet As of May 31, 2018 May 31, 18 ASSETS Current Assets Checking/Savings 1040 • First Bank Checking 103,903.32 1050 • Paypal 564.21 1072 • Capital Acct- Alpine Bank 4092 50,001.69 Savings Accounts 1041 • 1st Bank Liquid Asset 20,589.52 1043 • ANB Bank 101,105.28 1045 • Operating Res Fund- US Bank 6,471.63 1071 • Operating Res Fund- Alpine Bnk 36,874.05 Total Savings Accounts 165,040.48 Total Checking/Savings 319,509.70 Accounts Receivable 1200 • Accounts Receivable 98,586.67 Total Accounts Receivable 98,586.67 Other Current Assets 1256 • Working Capital- Westgate 4,065.30 1245 • Pre -paid Expenses 2,105.02 Total Other Current Assets 6,170.32 Total Current Assets 424,266.69 Fixed Assets 1550 • Westgate Office 1555.1 • Westgate Closing Costs 3,110.90 1550 • Westgate Office - Other 499,000.00 Total 1550 • Westgate Office 502,110.90 1500 • Computers 6,056.01 1510 • Office Equipment 16,092.00 1525 • Leasehold imprv.- Freedom Ranch 69,283.86 1527 • Leasehold Improvements Westgate 123,382.58 1600 • Accum. Depreciation -166,016.61 Total Fixed Assets 550,908.74 TOTAL ASSETS 975,175.43 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 • Accounts Payable 8,625.26 Total Accounts Payable 8,625.26 Other Current Liabilities 2040 • Accrued Payroll Expenses 31,984.03 2120 • Payroll Liabilities 2125 • Colorado Withholding 1,790.00 2160 • SUTA Payable 86.85 2163 • Simple Liabilities 3,420.66 2171 • Employee Health Liabilities -2,342.60 Page 1 of 2 December 4, 2018 - Page 253 c 12:22 PM 06/18/18 Accrual Basis Bright Future Foundation Balance Sheet As of May 31,2018 May 31, 18 2172 • HSA Employee Liability -562.50 2173 • Company Health Liabilities -1,348.00 2175 • Life, Disability, Dental Liabil -3.45 2176 • 529 Plan Liabilities 800.00 2120 • Payroll Liabilities - Other 39,482.68 Total 2120 • Payroll Liabilities 41,323.64 Total Other Current Liabilities 73,307.67 Total Current Liabilities 81,932.93 Long Term Liabilities Westgate Loan- ANB 399,200.00 Total Long Term Liabilities 399,200.00 Total Liabilities 481,132.93 Equity 3000 • Unrestricted Equity 548,478.04 3000R • Restricted Fund Balance 61,333.00 Net Income -115,768.54 Total Equity 494,042.50 TOTAL LIABILITIES & EQUITY 975,175.43 Page 2 of 2 December 4, 2018 - Page 254 0 12:20 PM 06/18/18 Accrual Basis Bright Future Foundation Profit & Loss Budget Performance May 2018 May 18 Budget $ Over Budget Jan - May 18 YTD Budget $ Over Budget Annual Budget Ordinary Income/Expense Income 4000 • Contributions 4060 • Individual Donations (< $100( 2,435.76 500.00 1,935.76 3,980.68 3,000.00 980.68 22,000.00 4070 • Major Donations (>$1000) 400.00 3,000.00 -2,600.00 27,967.74 23,800.00 4,167.74 125,000.00 Total 4000 • Contributions 2,835.76 3,500.00 -664.24 31,948.42 26,800.00 5,148.42 147,000.00 4100 • Government 4110 • DVP 15,681.22 7,083.00 8,598.22 40,745.12 35,415.00 5,330.12 85,000.00 4130 • VOCA 11,000.00 11,000.00 0.00 34,548.85 35,000.00 -451.15 97,000.00 4135 • VOCA Housing 19,000.00 14,500.00 4,500.00 84,543.59 72,500.00 12,043.59 174,000.00 4140 • VALE 2,150.00 2,167.00 -17.00 10,950.00 10,831.00 119.00 26,000.00 4155 • SVP 3,727.88 3,833.00 -105.12 18,323.97 19,165.00 -841.03 46,000.00 4160 • CCH 4,212.00 8,583.00 -4,371.00 37,325.85 42,915.00 -5,589.15 103,000.00 4163 • FVJF-Family Violence Justice 1,100.00 1,167.00 -67.00 4,190.93 5,835.00 -1,644.07 14,000.00 4164 • ESG-Emergency Shelter Grar 0.00 0.00 0.00 243.50 3,000.00 -2,756.50 16,000.00 4170 • Eagle County 5,000.00 5,000.00 0.00 5,000.00 5,000.00 0.00 10,000.00 4175 • TGYS 9,870.15 7,833.00 2,037.15 44,581.08 39,165.00 5,416.08 94,000.00 4176 • 5th Judicial DA Fund 475.54 0.00 475.54 1,673.82 0.00 1,673.82 5,000.00 Total 4100 • Government 72,216.79 61,166.00 11,050.79 282,126.71 268,826.00 13,300.71 670,000.00 4200 • Grants Foundation/Community 4210 • Vail Valley Cares 0.00 0.00 0.00 0.00 0.00 0.00 32,000.00 4232 • McGowen 0.00 0.00 0.00 0.00 0.00 0.00 30,000.00 4234 • AV Hunter Trust 0.00 0.00 0.00 0.00 0.00 0.00 7,500.00 4250 • United Way of Eagle River V 0.00 0.00 0.00 0.00 0.00 0.00 11,000.00 4260 • Miscellaneous 1.16 1,000.00 -998.84 7,574.72 7,000.00 574.72 43,000.00 Total Foundation/Community 1.16 1,000.00 -998.84 7,574.72 7,000.00 574.72 123,500.00 Total 4200 • Grants 1.16 1,000.00 -998.84 7,574.72 7,000.00 574.72 123,500.00 4300 • Events Income 4310 • Golf Tournament 4310.1 • Player Fees 0.00 0.00 0.00 0.00 0.00 0.00 22,000.00 4310.2 • Sponsorships 0.00 0.00 0.00 4,000.00 2,000.00 2,000.00 26,000.00 4310.3 • Silent Auction 0.00 0.00 0.00 0.00 0.00 0.00 17,000.00 4310.4. Other Golf 0.00 0.00 0.00 0.00 0.00 0.00 3,000.00 Total 4310 • Golf Tournament 0.00 0.00 0.00 4,000.00 2,000.00 2,000.00 68,000.00 4320 • Winter Culinary Weekend 0.00 0.00 0.00 4,067.00 4,000.00 67.00 4,000.00 4330 • Wine & Spirits 0.00 0.00 0.00 0.00 0.00 0.00 125,000.00 4352 • Bridge Tournament 280.00 0.00 280.00 280.00 0.00 280.00 7,000.00 4370 • Miscellaneous Events 2,755.21 0.00 2,755.21 5,125.21 2,000.00 3,125.21 10,000.00 Total 4300 • Events Income 3,035.21 0.00 3,035.21 13,472.21 8,000.00 5,472.21 214,000.00 4400 • Earned Income 4410 • Client Service Fees 4,900.00 2,000.00 2,900.00 17,700.00 11,000.00 6,700.00 25,000.00 Total 4400 • Earned Income 4,900.00 2,000.00 2,900.00 17,700.00 11,000.00 6,700.00 25,000.00 4500 • Reimbursement Income 607.00 1,200.00 -593.00 729.00 1,600.00 -871.00 10,000.00 Page 1 of 3 December 4, 2018 - Page 255 0 12:20 PM 06/18/18 Accrual Basis Bright Future Foundation Profit & Loss Budget Performance May 2018 May 18 Budget $ Over Budget Jan - May 18 YTD Budget $ Over Budget Annual Budget Total lncome 83,595.92 68,866.00 14,729.92 353,551.06 323,226.00 30,325.06 1,189,500.00 Expense 50000 • Personnel Expense 5000 • Salaries 52,712.85 56,000.00 -3,287.15 268,567.35 280,000.00 -11,432.65 681,000.00 5010 • Taxes & Admin 3,957.40 4,000.00 -42.60 20,348.45 20,000.00 348.45 51,000.00 5020 • Employee Benefits 5,349.10 7,000.00 -1,650.90 28,466.12 35,000.00 -6,533.88 86,000.00 Total 50000 • Personnel Expense 62,019.35 67,000.00 -4,980.65 317,381.92 335,000.00 -17,618.08 818,000.00 5100 • Program 5110 • Program Supplies 92.08 125.00 -32.92 515.09 625.00 -109.91 1,500.00 5120 • Program Expense Other 606.99 1,200.00 -593.01 4,003.39 4,400.00 -396.61 10,000.00 5130 • Maintenance 1,032.93 2.000.00 -967.07 1,638.16 2,500.00 -861.84 5,000.00 5140 • Utilities 551.60 165.00 386.60 2,369.97 825.00 1,544.97 2,000.00 Total 5100 • Program 2,283.60 3,490.00 -1,206.40 8,526.61 8,350.00 176.61 18,500.00 5200 • Client Services 5210 • CCH 3,562.00 6,040.00 -2,478.00 25,196.00 30,220.00 -5,024.00 72,500.00 5220 • Food 0.00 165.00 -165.00 0.00 825.00 -825.00 2,000.00 5230 • Client Services - Other 0.00 0.00 0.00 0.00 975.00 -975.00 1,000.00 5240 • Mileage 1,294.60 1,250.00 44.60 5,458.45 6,250.00 -791.55 15,000.00 5250 • VOCA- Housing Ensuring Fre 6,038.00 4,400.00 1,638.00 34,149.50 22,000.00 12,149.50 53,000.00 Total 5200 • Client Services 10,894.60 11,855.00 -960.40 64,803.95 60,270.00 4,533.95 143,500.00 5300 • Fundraising Expense 5300.1 • Golf Tournament Expense 0.00 0.00 0.00 0.00 0.00 0.00 6,000.00 5300.2. Other Fundraising Expense 0.00 500.00 -500.00 112.44 5,200.00 -5,087.56 16,500.00 5301 • Beaver Creek/Wine Events 0.00 0.00 0.00 8,683.93 1,500.00 7,183.93 12,500.00 Total 5300 • Fundraising Expense 0.00 500.00 -500.00 8,796.37 6,700.00 2,096.37 35,000.00 5500 • Operating Expenses 5510 • Advertising/Marketing 230.00 500.00 -270.00 794.22 2,500.00 -1,705.78 6,000.00 5520 • Board Expense 0.00 0.00 0.00 142.70 1,200.00 -1,057.30 2,000.00 5530. Office P&I, CAM, Tax 3,580.12 3,600.00 -19.88 21,288.46 22,800.00 -1,511.54 48,000.00 5535. Office Utilities 104.89 125.00 -20.11 572.36 625.00 -52.64 1,500.00 5537 • Office Maintenance & Repair: 873.76 250.00 623.76 1,058.76 1,250.00 -191.24 3,000.00 5540. Office Supplies 168.46 400.00 -231.54 2,256.82 2,000.00 256.82 5,000.00 5550 • Postage and Delivery 50.00 125.00 -75.00 629.81 625.00 4.81 1,500.00 5560 • Printing and Reproduction 549.40 460.00 89.40 2,651.89 2,300.00 351.89 5,500.00 5570 • Telephone/Internet 1,406.58 1,083.00 323.58 6,081.40 5,415.00 666.40 13,000.00 5580 • Technology 7,953.75 8,500.00 -546.25 9,632.47 11,500.00 -1,867.53 38,000.00 5590 • Professional Fees 7,305.00 900.00 6,405.00 11,889.00 8,700.00 3,189.00 15,000.00 5600 • Insurance 1,753.92 1,250.00 503.92 5,828.15 6,250.00 -421.85 15,000.00 5610 • Professional Development 1,436.58 300.00 1,136.58 3,686.67 5,700.00 -2,013.33 11,000.00 5620 • Dues and Subscriptions 0.00 0.00 0.00 2,365.00 2,000.00 365.00 5,000.00 5630 • Bank Service Charges 89.13 200.00 -110.87 977.99 800.00 177.99 5,000.00 Total 5500 • Operating Expenses 25,501.59 17,693.00 7,808.59 69,855.70 73,665.00 -3,809.30 174,500.00 Total Expense 100,699.14 100,538.00 161.14 469,364.55 483,985.00 -14,620.45 1,189,500.00 Net Ordinary Income -17,103.22 -31,672.00 14,568.78 -115,813.49 -160,759.00 44,945.51 0.00 Page 2 of 3 December 4, 2018 - Page 256 0 12:20 PM 06/18/18 Accrual Basis Bright Future Foundation Profit & Loss Budget Performance May 2018 May 18 Budget $ Over Budget Jan - May 18 YTD Budget $ Over Budget Annual Budget Other Income/Expense Other Income 8001 • Interest Income 8002 • Unrealized Income (Loss) 0.00 -152.36 8003 • Dividend Income 0.00 66.96 8004 • Capital Interest Income 0.43 1.69 8001 • Interest Income - Other 46.43 128.66 Total 8001 • Interest Income 46.86 44.95 Total Other Income 46.86 44.95 Net Other Income 46.86 44.95 Net Income -17,056.36 -31,672.00 14,615.64 -115,768.54 -160,759.00 44,990.46 0.00 Page 3 of 3 December 4, 2018 - Page 257 0 8/22/2018 High Five Access Media Perry Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : High Five Access Media First Name of Contact Person : J.K. Last Name of Contact Person : Perry E-mail Address : jk@highfivemedia.org Mailing Address : PO Box 5600 City : Avon State : US -00 Zip : 81620 December 4, 2018 - Pa0 258 0 8/22/2018 Telephone Number : 9709495657 Members and Titles of your Governing Board : Marci Colby, Beck Builds — President Scott Robinson, WECMRD — VP Char Gonsenica, Eagle Valley Humane Society — Treasurer Mike Griffin, Vail Information Technology — Vail Representative Amy Phillips, Avon Town Council — Avon Representative Kim Blackford — Community Representative Andrew Zaback, Alpine Bank — Community Representative Tegan Davis, Eagle Valley Library District - Community Representative Organization Mission Statement : Our mission is to empower the local community, through media education and technology, to become civically engaged, express ideas, and advocate for causes. Organization fiscal year-end: : 2018-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $112,000 Who currently funds your organization? : Town of Vail, Town of Avon, production services for governments and nonprofits, underwriting, donations, and membership fees How will the contribution be used? : Franchise fees passed along from Comcast subscribers fund equipment purchases and production of council meetings; free access for Vail residents to membership, media education, video production equipment and cable television and internet distribution. Funds also are used to purchase capital equipment or pay for ongoing costs for cablecast and webcast of programming to Comcast subscribers and Internet users, and support of all High Five Access Media programs, in-house productions and more. In the past two years, High Five Access Media has updated its website to place content up front for users, with the Town of Vail featured prominently. We also began covering the Vail America Days Parade in 2017, and continued into 2018. We plan to expand distribution yet again this year to reach users who have "cut the cord," with access to all video on Apple TV and Roku. In the coming years, we plan to expand media education opportunities for youth in the hopes of creating civically -engaged leaders. We also hope to increase volunteer participation in community production of local events and news. Many community access television stations currently are experiencing massive downturns in funding as younger folks abandon cable television in favor of cutting the cord. We are working to diversify our funding resources in anticipation of this trend reaching Vail. We may be somewhat insulated because of development, our resort industry and the superiority of cable services in the mountains. How does your request support item IC of the Contribution Policy (See above) : High Five Access Media provides quality coverage, as well as television and internet distribution of council meetings so residents, guests and nonprofits may become civically engaged in local government and critical issues. We also provide residents, students and nonprofits media education, equipment and an outlet to express themselves, thus creating a vibrant and diverse dialogue among the community about what matters to them. We strive to provide an access media center commensurate with the high standards of the Town of Vail. Please Upload Organization Balance Sheet : HFAM_BalanceSheet.pdf Please Upload Organization Income Statement : HFAM_PL2017.pdf Linked Form : info@highfivemedia.org Submission Date : 2018-06-29 Submission Date : December 4, 2018 - Pa0 259 0 8/22/2018 Created by : integrations+23268@zenginehq.com Record ID # : 6757364 Last change : 2018-06-29T16:20:56+0000 December 4, 2018 - Pa§@ 260 0 5:08 PM 06/25/18 Accrual Basis High Five Access Media Balance Sheet As of May 31, 2018 May 31, 18 ASSETS Current Assets Checking/Savings Alpine Bank Checking 8,119.41 Alpine Bank Money Market 28,012.69 Community Tech Fund 18,665.24 First Bank Checking 4,125.86 Money Market Savings 51,603.08 PayPal 191.92 PettyCash 190.78 Total Checking/Savings Accounts Receivable Accounts Receivable 110,908.98 6,689.00 Total Accounts Receivable 6,689.00 Other Current Assets Prepaid Expenses -3,654.24 Total Other Current Assets -3,654.24 Total Current Assets 113,943.74 Fixed Assets 281 Metcalf Building 216,000.00 281 Metcalf Improvements 29,284.31 A/D - Equipment -299,572.12 ND - Leasehold Improvements -0.30 Equipment 322,015.96 Studio & Leasehold Improvements 0.30 Total Fixed Assets 267,728.15 TOTAL ASSETS 381,671.89 LIABILITIES & EQUITY Liabilities Current Liabilities Other Current Liabilities Payroll Liabilities 2,957.07 Total Other Current Liabilities 2,957.07 Total Current Liabilities 2,957.07 Long Term Liabilities Notes, Mortgages, and Leases 281 Metcalf Mortgage Total Notes, Mortgages, and Leases Total Long Term Liabilities Total Liabilities Equity 107,110.79 107,110.79 107,110.79 110,067.86 Page 1 December 4, 2018 - Page 261 0 5:08 PM 06/25/18 Accrual Basis High Five Access Media Balance Sheet As of May 31, 2018 Retained Earnings Net Income May 31, 18 295,752.32 -24,148.29 Total Equity 271,604.03 TOTAL LIABILITIES & EQUITY 381,671.89 Page 2 December 4, 2018 - Page 262 0 High Five Access Media P&L 2017 Total Ordinary Income/Expense Income Income Restricted Grants $ 18,000.00 Total Restricted $ 18,000.00 Unrestricted Donations $ 51.19 Franchise Fees Avon $ 46,060.80 Vail $ 111,796.17 Total Franchise Fees $ 157,856.97 Interest Income $ 40.87 Membership Dues $ 75.00 Production Income DVD $ 285.00 Underwriting $ 2,750.00 Government Services $ 26,375.00 Nonprofit Services $ 5,000.00 Total Production Income $ 34,410.00 Rebate/Refund $ 113.83 Total Unrestricted $ 192,547.86 Total Income $ 210,547.86 Expense Expenses Operational Expenses 281 Metcalf Operating Dues $ 4,396.00 Interest Expense $ 5,909.53 Principal Expense (Assets) $ 9,199.21 Advertising/Marketing $ 1,799.40 Bank Service Charges $ 156.61 Dues and Subscriptions $ 2,321.24 Insurance Equipment $ 1,507.50 Health $ 5,682.00 Liability/Property $ 2,631.35 Officers and Directors $ 1,121.00 Workers Compensation $ 710.00 Total Insurance $ 11,651.85 Licenses and Permits $ 97.45 Meals $ 834.51 Office Equipment $ Office Supplies $ 311.73 Payroll Expenses $ 8,938.01 Postage and Delivery $ 520.60 Professional Fees Accounting $ 1,700.00 December 4, 2018 - Page 263 0 Total Professional Fees $ 1,700.00 Repairs Building Repairs $ 250.13 Website Maintenance/Computer Repairs $ 2,050.00 Equipment Repairs $ 225.00 Total Repairs $ 2,525.13 Salary & Wages - Operational Performance Bonus $ 4,000.00 Salary & Wages - Operational $ 5,773.11 Total Salary & Wages - Operational $ 9,773.11 Training $ 1,582.96 Utilities Cell Phone $ 1,880.71 Comcast $ 451.51 Gas and Electric $ 2,093.93 Telephone $ 291.78 Total Utilities $ 4,717.93 Total Operational Expenses $ 66,435.27 Program Expenses Cap. Imps. - Equipment (Assets) $ 1,416.86 Savings to Community Technology Fund (Assets) $ 20,000.00 Cap. Imps - Facility (Assets) $ Fuel $ 2,881.51 Graphics Program Subscriptions $ 7,758.30 Program Supplies Other $ 1,996.74 Total Program Supplies $ 1,996.74 Salary & Wages - Program $ 100,690.48 Total Program Expenses $ 136,759.63 Total Expenses $ 201,611.94 Net Ordinary Income $ 8,935.92 Community Technology Fund Balance Year Start (Long-term capital purchases) Community Technology Purchases $ 10,712.95 Community Technology Fund Balance $ 33,909.73 December 4, 2018 - Page 264 0 8/22/2018 Eagle Valley Child Care Association -Vail Child Care Drummet Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Eagle Valley Child Care Association -Vail Child Care First Name of Contact Person : Amy Last Name of Contact Person : Drummet E-mail Address : amy.drummet@eaglevalleycca.org Mailing Address : PO BOX 1700 City : VAIL State : US -00 Zip : 81632 December 4, 2018 - Pa0 265 0 8/22/2018 Telephone Number : 9709262501 Members and Titles of your Governing Board : Krista Miller, President of EVCCA Board Jared Biniecki, Vice President of EVCCA Board Meg Welsh, Secretary of EVCCA Board Eric Aragon, Director on EVCCA Board Tegan Davis, Director on EVCCA Board Organization Mission Statement : Eagle Valley Child Care Association strives to meet the needs of the families of Eagle County by: *Providing developmentally appropriate, discovery learning environment that meets the needs of every child's healthy cognitive, language, motor, social and emotional development. *Provide supportive parenting guidance to every family enrolled in the center. *Provide the Eagle Valley Business community with a way to assure quality child care for the employees through the Eagle Valley Business Community. Organization fiscal year-end: : 2018-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $55,000 Who currently funds your organization? : The Eagle Valley Child Care Association operates (2) early childhood centers in the Vail Valley. Both schools are funded entirely by parent tuition, business partner commitments, grant writing and fundraising opportunities. How will the contribution be used? : This contribution will be used to continue to provide licensed center infant care in the Vail Valley, specifically within the town of Vail. How does your request support item 1C of the Contribution Policy (See above) : The Eagle Valley Child Care Association was developed in response to the vast need for early childhood services in the Vail Valley. Working families cannot work in their respective organizations without child care. Therefore, child care services are one piece of the puzzle for any community to have competitive employers with high quality employees. In a premier mountain resort community where a strong emphasis is placed on high quality services, the quality level of child care services provided to local families needs to match the quality of services that are provided in our community. The Association's commitment to education is evident in our commitment to the Colorado Shines process and our continuous pursuit of advancing the educational program that we offer at both sites. In late 2018, both of our sites achieved a 4 diamond high quality rating from Colorado Shines which illustrates our commitment to high quality programming. Please Upload Organization Balance Sheet : Bal Sht 05 2018.pdf Please Upload Organization Income Statement : Inc + Exp 05 2018.pdf Linked Form : amy.drummet@eaglevalleycca.org Submission Date : 2018-06-28 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6314078 Last change : 2018-06-28T19:47:40+0000 December 4, 2018 - Pap 266 0 8/22/2018 December 4, 2018 - Pa§@ 267 0 8:59 AM Eagle Valley Child Care Association 06/28/18 Balance Sheet Accrual Basis As of May 31, 2018 ASSETS Current Assets Checking/Savings 1000 • Cash Accounts May 31,18 72, 015.10 Total Checking/Savings 72,015.10 Accounts Receivable 1200 • Accounts Receivable 6,022.92 Total Accounts Receivable 6,022.92 Other Current Assets 1400 • Miscellaneous Receivable 1600 • Prepaid Expenses 520.55 10, 524.92 Total Other Current Assets 11,045.47 Total Current Assets 89,083.49 Fixed Assets 1900 • Equipment 1910 • Improvements 1996 • Accumulated Depreciation 22, 048.30 37, 023.62 -37,484.10 Total Fixed Assets 21,587.82 TOTAL ASSETS 110,671.31 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 • Accounts Payable 485.19 Total Accounts Payable 485.19 Credit Cards 2050 • VISA 3,013.61 Total Credit Cards 3,013.61 Other Current Liabilities 2100 • Payroll Liabilities 2120 • Salary Accrual 2200 • FP Parent Payable -Vail Center 2300 • FP Parent Payable -Miller Ranch 2500 • Deferred Revenue -Vail Center 2600 • Deferred Revenue- Miller Ranch 2700 • Deferred Contributn-Vail Center 2800 • Deferred Contributn-Miller Rnch 2900 • Grants Deferred Revenue Total Other Current Liabilities Total Current Liabilities Total Liabilities Equity 3900 • Retained Earnings 3901 • RE- Vail Center 3902 • RE- Miller Ranch Net Income 10, 064.69 12, 584.31 37, 734.87 76, 593.57 5,729.16 5,729.16 21, 383.46 6,918.00 12, 649.24 189, 386.46 192, 885.26 192, 885.26 455.92 -38,331.20 -115,525.76 71,187.09 Total Equity -82,213.95 TOTAL LIABILITIES & EQUITY 110,671.31 Page 1 December 4, 2018 - Page 268 0 9:02 AM Eagle Valley Child Care Association 06/28/18 Profit & Loss Accrual Basis January through May 2018 Ordinary Income/Expense Income 4000 • Founding Partners Income 4200 • Tuition Income 4250 • Tuition Rev pd by Temple Grant 4300 • Registration Fees 4305 • Late Fees 4400 • Contributions 4500 • Donations 4600 • Grants 4605 • Grant Rev -Temple Hoyne Buell 4610 • Fundraiser 4700 • Interest 4900 • Misc. Income Jan - May 18 91, 666.68 393, 094.00 -17,036.00 4,295.00 58.00 20, 215.29 2,930.27 4,140.45 18, 420.50 2,092.86 30.72 1,352.00 Total Income 521,259.77 Gross Profit 521,259.77 Expense 5000 • Payroll Expenses 5100 • Fringe Benefits 6000 • Supplies 6900 • Equipment Expense 7000 • Purchased Services 7930 • Grant Expenses 8000• Staff Support 9999• Suspense 365, 799.09 50, 911.89 10, 519.30 1,145.04 17, 473.92 2,821.76 1,401.68 0.00 Total Expense 450,072.68 Net Ordinary Income 71,187.09 Net Income 71,187.09 Page 1 December 4, 2018 - Page 269 0 8/24/2018 Eagle Valley Land Trust Foulis Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Eagle Valley Land Trust First Name of Contact Person : Jessica Last Name of Contact Person : Foulis E-mail Address : jfoulis@evlt.org Mailing Address : PO City : Edwards State : US -00 Zip : 81632 December 4, 2018 - Pa66 270 0 8/24/2018 Telephone Number : 9707487654 Members and Titles of your Governing Board : Board of Directors Dr. Tom Steinberg, In Memoriam Tom Edwards, Emeritus Dan Godec, Emeritus Adriana Bombard, PhD, President T.J. Voboril, Vice President Andrew Larson, Treasurer Tina Nielsen, Secretary Larry Agneberg Stan Cope Hatsie Hinmon Robert Holmes Susan Johnson Hope Anderson Kapsner Anna -Maria Ray Clayton Gerard Christina Lautenberg David Schlendorf Chris Fedrizzi Kelly Bronfman Organization Mission Statement : Eagle Valley Land Trust works to preserve important places forever. Our mission is to protect forever the lands we love, to preserve our heritage, scenic beauty, recreational opportunities, and wildlife habitats, and to build a permanent legacy for future generations. We visit each conserved property annually, collaborate with the owners regarding management issues, and document our findings to provide a complete archive of our stewardship duty. When resource damage is found, EVLT intervenes to make sure all damage is remedied. The importance of EVLT's Stewardship and Outreach Program cannot be overstated and your support will ensure that it continues. We cannot add to EVLT's portfolio of conserved land if we do not first proficiently steward the 11,273 acres that we already protect. EVLT successfully fulfills this obligation year over year, but can only continue to do so with your support. Your support ensures that in Vail: • 2.5 miles of public trails remain open and new trails may be created • 25.18 acres providing scenic views remain beautiful and unprotected scenic views can be permanently protected in the future • 25.18 acres of wildlife habitat remains robust and additional habitat can be conserved • 22.29 acres remain open to the public for picnics, hikes, and recreation and additional acreage can be preserved • At least 1 Community Land Connection Series or Future Conservationists events will be executed, serving up to 20 residents each • EVLT will spend less time performing fundraising which distracts from our goal of conserving more land • Tens of thousands of acres are managed well because EVLT's trained staff collaborate with all interested landowners by providing support, management feedback, technical advice, and resources for their land management issues As a 501(c)3 non-profit, EVLT is primarily funded through individual contributions and grants. EVLT cannot deliver on its mission of land conservation without the help of its funding partners like the Town of Vail. This funding helps EVLT's staff focus more time on mission delivery rather than fundraising. Without this donation, EVLT would be forced to reduce its conservation work, whereas this donation will help EVLT to further prioritize work in the Vail area. While our work is extremely important, it is nuanced, making it difficult to raise funds. We are preserving land so that there are places for all to enjoy nature— and this conservation work has a long-term impact because lands conserved by EVLT for our community's benefit are conserved forever. That is why your donation is urgently needed and will have a big impact. EVLT is the only local non-profit land trust serving Eagle County. Additionally, EVLT is the only organization facilitating partnerships throughout our community programs focused on connecting people to conserved land. Organization fiscal year-end: : 2018-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $5,000 Who currently funds your organization? : Private Donors, Grant funds, and municipalities including Avon, Eagle and Gypsum How will the contribution be used? : EVLT requests $5,000 to support our Stewardship and Outreach Program. a. $1,000 will be used in marketing programs and events, showcasing the Town of Vail's support b. $1,500 will be used for the preparation and execution of the Community Land Connection Hike in Vail c. $2,500 will be used to subsidize the cost of annual monitoring visits to the five conserved properties in the Town of Vail. This program is December 4, 2018 - Pa§6 271 0 8/24/2018 responsible for coordinating our stewardship of existing conservation easements and addressing management concerns in a proactive and collaborative way; as well as connecting people to conserved land and raising awareness of the importance of land conservation. This year, our Stewardship and Outreach Manager is working with Town of Vail Staff to continue to protect the conservation values of conserved properties in the Vail area including Meadow Creek, East Vail Waterfall, Ptarmigan, Buffehr Creek, and Potato Patch conservation easements. Additionally, in past years we worked to connect people to East Vail Waterfall and the Meadow Creek conservation easement, while highlighting the important conservation and recreation efforts there through our Community Land Connection hike series. Having a dedicated staff member addressing stewardship of our conservation easements ensures consistency in our efforts and that the conservation values of our easements are protected in perpetuity. Stewardship: The Stewardship and Outreach Manager would continue to work with Town of Vail Board and Staff and support ongoing efforts to protect Town of Vail conserved properties. This effort includes the annual monitoring visit to each property, as well as answering questions and providing support throughout the year. EVLT visits all conserved lands annually to inspect the condition of plants/weeds, trails, riparian and wildlife habitat and much more. Extensive data is recorded and archived at each visit. Further, the visit helps us maintain strong relationships with landowners who are land conservation's best advocates. If our stewardship program falters and our landowner relationships suffer, this will have a negative effect on land conservation for us all. Town of Vail's support will allow EVLT to extend these benefits to more land in and around the town. For example, EVLT could support town efforts to conserve additional open space property. Additionally, the Stewardship and Outreach Manager will work closely with town Board and Staff to respond to questions and requests regarding Town of Vail's conserved parcels in a timely manner. Outreach: The Stewardship and Outreach Manager would continue to partner with the town to connect residents of Vail to their local conserved public land through our Community Land Connection Series, as well as the Future Conservationists Program. The Community Land Connection (CLC) series consists of free guided hikes on public conserved land. We work to partner with other non -profits and government agencies to highlight conservation efforts taking place throughout the community. The collaborative nature of this program increases awareness of ongoing conservation work throughout our community, while connecting people to local conserved open space. This series could take place on East Vail Waterfall, Buffehr Creek, Ptarmigan and/or the Meadow Creek conservation easements. Generally, the Stewardship and Outreach Manager organizes the event and develops outreach and marketing materials to promote the event in partnership with another entity. The Town of Vail could be a featured partner in this series. Future Conservationists (FC) is a program focused on partnering with local youth -serving organizations to connect youth to conserved land. We currently have partnerships with Walking Mountains Science Center, Bright Future Foundation Buddy Mentors and The Cycle Effect to facilitate this program on public conserved parcels throughout Eagle County, including properties in the Town of Vail. We are also working to partner with other youth -serving organizations including SOS Outreach. The Stewardship and Outreach Manager meets with youth in the field on conservation easements and leads an engaging activity, focusing on the importance of conserving important places. This program could be expanded to include more organizations and take place on East Vail Waterfall or Meadow Creek conservation easement. EVLT will continue to plan and execute Community Land Connection Hikes on Town of Vail conserved properties for residents and guests of the Town of Vail. Additionally, EVLT will work with Town Staff and Board to present information to the public regarding the conservation easements on parcels within the Town of Vail as requested. How does your request support item 1C of the Contribution Policy (See above) : EVLT directly assists the Town of Vail to maintain a strong foundation for the stewardship of its natural resources by assisting the town to meet their long-term stewardship obligations on the East Vail Waterfall, Buffehr Creek, Ptarmigan and Meadow Creek parcels. Additionally, EVLT directly assists the Town of Vail in preserving the community's future health through the funding of programs and projects to protect the Town and region's clean waters, clean air, and to conserve environmental resources. The FC and CLC programs, as described above, directly contribute to the town's goal of growing a vibrant, diverse economy and community, providing citizens and guests with exceptional services and an abundance of recreational, cultural, and educational opportunities. All 10,000 Town of Vail full- and part-time residents, as well as visitors to the town, benefit from the programs provided by EVLT. Conservation of the December 4, 2018 - Pad4 272 0 8/24/2018 Ptarmigan and Buffehr Creek parcels preserve public access to the Vail Hiking Trail and North Trails, respectively. The East Vail Waterfall conservation easement preserves forever an iconic landmark in the Town of Vail. The Meadow Creek and Potato Patch conservation easements preserve important riparian habitat and wildlife corridors. Additionally, conserving all of these parcels protects the clean air and drinking water for the Town of Vail. Each Community Land Connection Series or Future Conservationists event can serve up to 20 Town of Vail residents. There have been at least 4 Community Land Connection Series events in each 2015, 2016 and 2017. With the support of the Town of Vail Community Grant Program, we will be able to expand our programs in the Town of Vail. Please Upload Organization Balance Sheet : EVLT Bal Sheet 013117.pdf Please Upload Organization Income Statement : EVLT PY Comp Income Statement 013117.pdf Linked Form : jfoulis@evlt.org Submission Date : 2018-06-28 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6072086 Last change : 2018-06-28T22:48:38+0000 December 4, 2018 - Pad4 273 0 6:52 AM 02/17/17 Accrual Basis Eagle Valley Land Trust Balance Sheet As of January 31, 2017 ASSETS Current Assets Checking/Savings 1000 • General Operating 15000 • Temp Restricted Bank Accts Jan 31, 17 392, 347.86 176,651.11 Total Checking/Savings 568,998.97 Accounts Receivable 1080 • Accounts Receivable 13,668.80 Total Accounts Receivable 13,668.80 Other Current Assets 1100 • Prepaid Expense 1499 • Undeposited Funds Total Other Current Assets Total Current Assets Fixed Assets 1125 • Fixed Assets 1250 • Accumulated Depreciation 5,375.00 425.00 5,800.00 588,467.77 19,534.33 -19,534.33 Total Fixed Assets 0.00 Other Assets 1400 • General Unrestricted Funds 1410 • LPL Unrestricted Funds 7489 146, 798.02 Total 1400 • General Unrestricted Funds 146,798.02 1550 • Endowment Fund 1553 • LPL Financial -Endow Fund 3224 416,472.83 Total 1550 • Endowment Fund 416,472.83 1600 • Easement Funds 1649 • LPL Financial 1650 • Stewardship Fund 521,836.27 1656 • Land Protection Funds 154,299.49 1675 • Legal Defense Fund 167,278.98 Total 1649 • LPL Financial 843,414.74 Total 1600 • Easement Funds 843,414.74 1800 • Security Deposits 1,000.00 Total Other Assets 1,407,685.59 TOTAL ASSETS 1,996,153.36 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 3,321.65 Credit Cards 482.23 Other Current Liabilities 9,121.30 Total Current Liabilities 12,925.18 Total Liabilities 12,925.18 Equity Page 1 December 4, 2018 - Page 274 0 6:52 AM 02/17/17 Accrual Basis Eagle Valley Land Trust Balance Sheet As of January 31, 2017 3200 • Net Assets -Unrestricted 3201 • Net Assets -Board Designated Unr 3300 • Net Assets - Temp Restricted Net Income Jan 31, 17 622,930.87 272,083.30 1,078,955.65 9,258.36 Total Equity 1,983,228.18 TOTAL LIABILITIES & EQUITY 1,996,153.36 Page 2 December 4, 2018 - Page 275 0 7:10 AM 02/17/17 Accrual Basis Eagle Valley Land Trust Profit & Loss Prev Year Comparison January 2017 Jan 17 Jan 16 $ Change Ordinary Income/Expense Income 4000 • Unrestricted Income 4100 • Individual Contributions 5,600.29 1,050.00 4,550.29 4300 • Board Contributions 500.00 0.00 500.00 4400 • Grants 4420 • Government Grants 0.00 5,000.00 -5,000.00 Total 4400 • Grants 0.00 5,000.00 -5,000.00 4600 • Investment Income 4625 • Realized Gains/Losses 0.00 0.00 0.00 4650 • Unrealized Gains/Losses 1,945.73 -5,625.70 7,571.43 4675• Interest Income 284.56 152.85 131.71 Total 4600 • Investment Income 2,230.29 -5,472.85 7,703.14 4800 • In -Kind Contributions 4825 • In -Kind - Special Events 0.00 450.00 -450.00 4850 • In Kind - Materials & Services 600.00 600.00 0.00 Total 4800 • In -Kind Contributions 600.00 1,050.00 -450.00 4900 • Special Events 4916 • Legacy Festival 4911 • Sponsorships 3,000.00 0.00 3,000.00 Total 4916 • Legacy Festival 3,000.00 0.00 3,000.00 Total 4900 • Special Events 3,000.00 0.00 3,000.00 Total 4000 • Unrestricted Income 11,930.58 1,627.15 10,303.43 5000 • Restricted Income 5600 • Investment Income 5625 • Realized Gains/Losses 0.00 0.00 0.00 5650 • Unrealized Gains/Losses 14,879.19 -27,521.67 42,400.86 5675• Interest Income 1,596.00 752.95 843.05 Total 5600 • Investment Income 16,475.19 -26,768.72 43,243.91 5770 • Endowment Fund Invest Income 5725 • Endow Fund - Dividends 243.19 172.45 70.74 5755 • Endow Fund - Unrealized G/(L) 8,088.90 -11,895.01 19,983.91 5775 • Endow Fund - Realized G/(L) 0.00 0.00 0.00 Total 5770 • Endowment Fund Invest Income 8,332.09 -11,722.56 20,054.65 5800 • In -Kind Contributions 5850 • In -Kind - Donated Mats & Svcs 3,120.00 0.00 3,120.00 Total 5800 • In -Kind Contributions 3,120.00 0.00 3,120.00 5950 • Project Related Service 522.00 0.00 522.00 Total 5000 • Restricted Income 28,449.28 -38,491.28 66,940.56 Total Income 40,379.86 -36,864.13 77,243.99 Gross Profit 40,379.86 -36,864.13 77,243.99 Expense 6000 • Unrestricted Expenses 6005 • Accounting 1,072.50 325.00 747.50 Page 1 of 2 December 4, 2018 - Page 276 0 7:10 AM 02/17/17 Accrual Basis Eagle Valley Land Trust Profit & Loss Prev Year Comparison January 2017 6010 • Advertising 6020 • Auto Mileage (Non Travel Related) 6053 • Brokerage Ticket Charges 6100 • Board Related 6135 • Credit Card Expense 6150 • Seminars & Classes 6400 • Licenses & Permits 6425 • Meals (Non Travel Related) 6450 • Membership Dues & Subscriptions 6455 • Office Supplies & Equipment 6460 • Postage - Mailing & Delivery 6475 • Printing & Reproduction 6480 • Rent - Office 6500 • Salary & Benefit Expenses 6500b • Admin/Management 6500c • Fundraising/Development 6500d • Outreach Education, Advocacy 6500e • Stewardship (Current CEs) 6500f • Project Development Total 6500 • Salary & Benefit Expenses 6625 • Seminars and Classes 6900 • Special Event Expense 6910 • Legacy Fesitival Expense Total 6900 • Special Event Expense 6920 • Telephone/Internet/Office Util 6959 • Exp Reallocation to Temp Rest 6970 • In -Kind Contribution Expense 6810 • In -Kind - Special Events Total 6970 • In -Kind Contribution Expense Total 6000 • Unrestricted Expenses 7000 • Restricted Expenses 7053 • Brokerage Ticket Charges 7300 • Insurance 7360 • Legal Fees 7500 • Salaries and Benefits 7800 • In -Kind Expense 7820 • In -Kind - Materials & Services Total 7800 • In -Kind Expense Total 7000 • Restricted Expenses Total Expense Net Ordinary Income Net Income Jan 17 Jan 16 $ Change 70.00 0.00 70.00 0.00 35.00 -35.00 0.00 168.42 -168.42 25.00 0.00 25.00 544.30 153.73 390.57 0.00 509.25 -509.25 0.00 125.00 -125.00 377.37 324.74 52.63 0.00 357.00 -357.00 44.71 6.95 37.76 0.00 147.00 -147.00 324.74 169.70 155.04 1,100.00 1,100.00 0.00 814.95 1,048.61 -233.66 4,672.37 4,892.48 -220.11 5,595.98 4,900.24 695.74 2,174.75 1,942.10 232.65 2,264.79 2,728.56 -463.77 15, 522.84 15, 511.99 10.85 289.50 0.00 289.50 500.00 1,045.00 -545.00 500.00 1,045.00 -545.00 127.77 287.75 -159.98 -4,439.54 -4,670.66 231.12 0.00 450.00 -450.00 0.00 450.00 -450.00 15,559.19 16,045.87 -486.68 1,037.27 823.95 213.32 1,488.00 1,344.00 144.00 4,877.50 96.00 4,781.50 4,439.54 4,670.66 -231.12 3,720.00 600.00 3,120.00 3,720.00 600.00 3,120.00 15, 562.31 7,534.61 8,027.70 31,121.50 23,580.48 7,541.02 9,258.36 -60,444.61 69,702.97 9,258.36 -60,444.61 69,702.97 Page 2 of 2 December 4, 2018 - Page 277 0 8/22/2018 Children's Garden of Learning (CGL) Swonger Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Children's Garden of Learning (CGL) First Name of Contact Person : Maggie Last Name of Contact Person : Swonger E-mail Address : mswonger@childrensgarden-vail.com Mailing Address : 129 N Frontage Road City : Vail State : US -CO Zip : 81657 December 4, 2018 - Pa0 278 0 8/22/2018 Telephone Number : 9704761420 Members and Titles of your Governing Board : Maren Cerimele Paul Graf Kevin Magner Rebecca McDonnell Ward McKinley Kara Robinson- Vice President Jess Szmyd- President Organization Mission Statement : Inspired by the Reggio Emilia philosophy, Children's Garden of Learning partners with children, families, and the Vail Valley community to provide an inquiry -based education for young learners. Teachers and children co -construct their learning experience through observation, intentional planning, creative environments, and active exploration of materials. Our goal is for each student to emerge as socially capable, creative citizens who love learning. Organization fiscal year-end: : 2018-05-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : In- Kind Services and Facilities Only In- Kind Request : $48,264: Parking lot snow removal/Building Safety Improvements Who currently funds your organization? : Parent tuition, Town of Vail, Eagle County, Temple Hoyne Buell, Vail Valley Cares How will the contribution be used? : We are seeking continued in-kind for snow removal of our parking lot valued at $5,000 and requesting funds to help us with building safety. Children's Garden of Learning requests $32,500 to install a fence around the front of the building where the children garden and enjoy small group time. Although the children are constantly supervised, we still face the risk of a child running down the hill or unwelcome visitors entering the children's space. Fencing in the front was recognized as a need during our Colorado Shines rating (in which CGL earned 4 stars) and during our recent child care licensing visit. The second request to ensure school safety comes from a recent meeting with Sergeant Justin Liffick of the Vail PD to ensure that our school is safe against intruders and prepared for emergencies. Children's Garden of Learning is requesting support from the Town of Vail for the installation of camera's, a school intercom, and alarm system. From the estimate provided Superior Alarm and Electronics these safety improvement will cost $10,764. CGL's total request for in-kind and facility improvements is $48,264. How does your request support item 1C of the Contribution Policy (See above) : Children's Garden of Learning provides exceptional early learning experiences to children and families of Vail. The school serves children ages 18 months to 6 years year-round from 7:30am-5:30pm. Our recently awarded a 4 Star rating from Colorado Shines demonstrates our ability to provide high quality care. Currently, 72% of CGL families work in Vail, 30% live in the Town of Vail, and 100% live and work in Eagle County. Children's Garden of Learning prides itself on providing children with a true Vail preschool experience. Our students will grow up to be the future workforce of this community. We are providing access to affordable care to keep families in the community. We are helping generations learn how to take care of our environment. This specific request for funding will impact the Vail community's future health and success by ensuring that Vail employees, families, and children continue to have access to safe and enriching programs. School wide safety and facility improvements will allow parents to rest with ease knowing that their children are safe and the program is prepared for any emergency that may arise. Please Upload Organization Balance Sheet : Balance Sheet FYE 05.31.18 (3).pdf Please Upload Organization Income Statement : Profit & Loss FYE 05.31.18.pdf Linked Form : mswonger@childrensgarden-vail.com Submission Date : 2018-06-29 December 4, 2018 - Pa0 279 0 8/22/2018 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6311046 Last change : 2018-06-29T16:30:57+0000 December 4, 2018 - Pa§@ 280 0 CHILDREN'S GARDEN OF LEARNING, INC. BALANCE SHEET As of May 31, 2018 TOTAL ASSETS Current Assets Bank Accounts Checking - Fundraising Events 29,398.10 Checking - Operating 39,291.68 Checking - Tuition Assistance 210.25 Petty Cash 163.22 Savings - Money Market 67,599.06 Total Bank Accounts $136,662.31 Accounts Receivable Accounts Receivable -12,534.66 Total Accounts Receivable $ -12,534.66 Other Current Assets Undeposited Funds 4,899.00 Total Other Current Assets $4,899.00 Total Current Assets $129,026.65 Fixed Assets Accumulated Depreciation -48,462.00 Fixed Assets 49,415.15 Leasehold Improvements 1,915.11 Total Fixed Assets $2,868.26 TOTAL ASSETS $131,894.91 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable Total Accounts Payable Other Current Liabilities Payable to Fundraising Payroll Liabilities 941 Taxes Aflac Policies Art Show Purchases Colorado Withholding Tax Health Insurance Premiums Simple IRA - Employee Simple IRA Co. Match State Unemployment Tax Total Payroll Liabilities Total Other Current Liabilities Total Current Liabilities Accrual Basis Wednesday, June 27, 2018 12:36 PM GMT -7 5,939.00 $5,939.00 1,500.00 0.00 -107.10 103.48 220.00 1,194.00 -3,425.28 909.53 269.27 419.13 -416.97 $1,083.03 $7,022.03 December 4, 2018 - PYde 281 0 TOTAL Long -Term Liabilities Reclass LT payable to MC Total Long -Term Liabilities Total Liabilities Equity Retained Earnings Net Income Total Equity TOTAL LIABILITIES AND EQUITY -110.24 $ -110.24 $6,911.79 67, 742.80 57,240.32 $124,983.12 $131,894.91 Accrual Basis Wednesday, June 27, 2018 12:36 PM GMT -7 December 4, 2018 - Fide 282 0 CHILDREN'S GARDEN OF LEARNING, INC. PROFIT AND LOSS June 2017 - May 2018 TOTAL Income Contributions/Gifts/Grants Contributions/Gifts/Donations Donations 2,103.27 Donations Parents/Grandparents 350.00 Fundraising Not Completed 540.00 Monthly Pledge Donations 2,852.00 Total Contributions/Gifts/Donations 5,845.27 Grants Received Government Grants Eagle County 9,277.24 Equipment Purchases -9,169.70 Total Eagle County 107.54 Total Government Grants 107.54 Non Government Grants 4,218.18 Equipment Purchases -1,758.05 Total Non Government Grants 2,460.13 Restricted Grants Funds Restricted for Tuition Assistance 1,500.00 Buell Foundation 13,106.00 CGL Transfers from CGL Fundraising -Donations 10,840.00 Payments for Tuition Assistance -25,446.00 Total Funds Restricted for Tuition Assistance 0.00 Total Restricted Grants 0.00 Total Grants Received 2,567.67 Total Contributions/Gifts/Grants 8,412.94 Fundraising Income Art Show Income 16,780.06 Art Show Expense -972.19 Total Art Show Income 15,807.87 Derby Party Income 17,284.00 Derby Party Expense -8,188.60 Total Derby Party Income 9,095.40 Total Fundraising Income 24,903.27 Program Service Revenue Enrollment Income Annual Registration Fees 5,150.00 Extended Hours 17,753.00 Holiday Camp 4,515.00 Preschool 338,305.00 Toddler 239,017.00 Tuition Assistance Expense -10,840.00 Accrual Basis Wednesday, June 27, 2018 12:34 PM GMT -7 December 4, 2018 - PI/de 283 0 TOTAL Total Enrollment Income 593,900.00 Finance Charges/Late Fees 1,164.30 Miscellaneous Income 485.49 City Market/Safeway Program 67.30 Other Miscellaneous Income 89.00 Total Miscellaneous Income 641.79 Total Program Service Revenue 595,706.09 Reimbursements from Fundraising -5,026.59 Total Income $623,995.71 GROSS PROFIT $623,995.71 Expenses Program Service Expenses Advertising/Marketing/Promotion 78.27 Background Checks 324.50 Bank Service/Merchant Account 1,409.84 Computer/Email/Web/Repairs 265.34 Dues and Subscriptions 969.80 Employee Benefits Health Insurance 18,554.11 Simple IRA Employer 7,453.20 Staff Development 5,154.90 Expense Reimbursement - Staff Development -800.00 Total Staff Development 4,354.90 Total Employee Benefits 30,362.21 Insurance Liability/Umbrella/D&O 10,888.00 Workers Compensation 5,858.00 Total Insurance 16,746.00 Janitorial Services & Supplies 17,163.98 Licenses and Permits 215.00 Music Classes 300.00 Office Supplies 508.29 Payroll Expenses Art Show 92.50 Conferences 586.30 Director Duty -Daily 625.00 Director Salaries 80,585.65 Employer SS/Mcare Taxes 31,246.93 Employer State Unemployment Tax 1,984.64 Grant Bonus Grant Bonus 2,290.00 Total Grant Bonus 2,290.00 other Earnings 1,400.00 Paid Time Off 0.00 Additional Wages -7,125.87 Sick Time Paid 7,494.93 Vacation Pay 13,759.94 Total Paid Time Off 14,129.00 Accrual Basis Wednesday, June 27, 2018 12:34 PM GMT -7 December 4, 2018 - Fide 284 0 TOTAL Teachers/Assistant Bonuses 1,225.00 Teachers/Assistants 284,897.16 Holiday Pay 16,103.00 Overtime Pay 2,400.62 Total Teachers/Assistants 303,400.78 Total Payroll Expenses 437,565.80 Payroll Software/Direct Deposit 934.00 Postage and Delivery 48.34 Printing/Copier Expense 1,077.51 Professional Fees 160.00 Accounting 25,460.00 Audit 3,200.00 Tax Return Preparation 1,500.00 Total Professional Fees 30,320.00 Property Taxes -Personal Propert 239.02 Repairs and Maintenance 10,792.89 Expense Reimbursement - R&M -4,226.59 Total Repairs and Maintenance 6,566.30 School Supplies 4,939.05 Security Monitoring 977.00 Staff/Board Appreciation & Meet 925.06 Telephone 3,914.55 Utilities Electric 2,724.22 Gas 1,101.10 Trash Removal 1,545.90 Water 5,285.52 Total Utilities 10,656.74 Total Program Service Expenses 566,506.60 Reimbursements Mileage Reimbursemen 283.55 Total Reimbursements 283.55 Total Expenses $566,790.15 NET OPERATING INCOME $57,205.56 Other Income Interest Income 34.76 Total Other Income $34.76 NET OTHER INCOME $34.76 NET INCOME $57,240.32 Accrual Basis Wednesday, June 27, 2018 12:34 PM GMT -7 December 4, 2018 - Pae 285 0 8/22/2018 Vail Valley Mountain Bike Association Seibert Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Vail Valley Mountain Bike Association First Name of Contact Person : Pete Last Name of Contact Person : Seibert E-mail Address : pseibert@slifer.net Mailing Address : 531 East Lionshead Circle, Suite 11 City : VAIL State : US -CO Zip : 81657 December 4, 2018 - Pa64 286 c 8/22/2018 Telephone Number : 9703901864 Members and Titles of your Governing Board : Jamie Malin - President Kat Sedillo - Vice -President and Secretary Casy Wyse - Treasurer Board Members Ernest Saeger Mark Luzar Bill Hoblitzell Pete Seibert Fritz Bratschie Brian Rodine Organization Mission Statement : Mission: To establish Eagle County, CO as a premier global mountain biking destination. Vision: A community of diverse participants that vigorously supports the maintenance and construction of sustainable mountain biking and hiking trails throughout Eagle County. Organization fiscal year-end: : 2018-12-31 Are your books audited? : No What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $5,000 Who currently funds your organization? : Town of Vail has previously supported as well as Town of Minturn, Town of Avon, Edwards Metro District, Singletree Metro District, Eagle Vail Metro District, Bachelor Gulch Metro District. We are funded by individuals and businesses throughout the community as well. How will the contribution be used? : The funds will help pay for the continued maintenance and improvement of hiking and biking trails located in the Vail Valley. How does your request support item 1C of the Contribution Policy (See above) : Our organization has shown a commitment to enhancing the recreational experience in our community through the Adopt A Trail program, Trail Ambassadors addressing wildlife concerns, improvement of existing trails and construction of new trails. Ultimately these efforts will result in hiking and biking trails worthy of a premier international mountain resort community. Going forward recreational opportunities that are counter -cyclical to winter sports will be more important to provide economic diversity. Please Upload Organization Balance Sheet : 2017VVMBAFinancials.xlsx Please Upload Organization Income Statement : 2017VVMBAFinancials.xlsx Linked Form : pseibert@slifer.net Submission Date : 2018-07-02 Submission Date : 2018-07-02 Created by : integrations+23268@zenginehq.com Record ID # : 6793839 Last change : 2018-07-02T22:22:34+0000 December 4, 2018 - Pap 287 0 8:39 AM 01/11/18 Accrual Basis AQA Dec 31, 17 ASSETS Current Assets Checking/Savings VVMBA Checking 79,516.20 Total Checking/Savings 79,516.20 Accounts Receivable Accounts Receivable 5,000.00 Total Accounts Receivable 5,000.00 Total Current Assets 84,516.20 Fixed Assets Furniture and Equipment 1,883.18 Total Fixed Assets 1,883.18 Other Assets Other Assets 563.26 Total Other Assets 563.26 TOTAL ASSETS 86,962.64 LIABILITIES & EQUITY Equity PY Retained earnings 45,823.68 Net Income 41,138.96 Total Equity 86,962.64 TOTAL LIABILITIES & EQUITY 86,962.64 Balance Sheet December 4, 2018 - Page 288 of 509 Page 1 of 11 8:41 AM 01/11/18 Accrual Basis Income Statement AQAWERVIK6749 Adopt a Ranger General 0 • s TOTAL Ordinary Income/Expense Income Direct Public Support Corporate Contributions 0.00 1,813.00 1,813.00 Individ, Business Contributions 74,213.80 1,965.64 76,179.44 Total Direct Public Support 74,213.80 3,778.64 77,992.44 Other Types of Income Miscellaneous Revenue 0.00 3,949.91 3,949.91 Total Other Types of Income 0.00 3,949.91 3,949.91 Program Income Membership Dues 0.00 2,134.05 2,134.05 Program Service Fees 0.00 -88.13 -88.13 Total Program Income 0.00 2,045.92 2,045.92 Total Income 74,213.80 9,774.47 83,988.27 Expense Bank Fees 0.00 48.99 48.99 Contract Services Outside Contract Services 31,156.00 0.00 31,156.00 Contract Services - Other 1,452.00 0.00 1,452.00 Total Contract Services 32,608.00 0.00 32,608.00 Facilities and Equipment Rent, Parking, Utilities 0.00 50.00 50.00 Facilities and Equipment - Other 0.00 50.00 50.00 Total Facilities and Equipment 0.00 100.00 100.00 Operations Books, Subscriptions, Reference 0.00 21.98 21.98 Printing and Copying 561.17 0.00 561.17 Supplies 2,672.39 0.00 2,672.39 Tools 3,293.08 500.00 3,793.08 December 4, 2018 - Page 289 of 509 Page 2 of 11 8:41 AM 01/11/18 Accrual Basis Income Statement AQAMARt42749 Total Adopt a Ranger General O.s TOTAL Operations 6,526.64 521.98 7,048.62 Other Types of Expenses Insurance - Liability, D and 0 0.00 1,419.00 1,419.00 Other Costs 0.00 794.72 794.72 Total Other Types of Expenses 0.00 2,213.72 2,213.72 Trail Construction/Maintenance 151.66 0.00 151.66 Travel and Meetings Conference, Convention, Meeting 50.00 193.32 243.32 Total Travel and Meetings 50.00 193.32 243.32 Website 0.00 435.00 435.00 Total Expense 39,336.30 3,513.01 42,849.31 Net Ordinary Income 34,877.50 6,261.46 41,138.96 Net Income 34,877.50 6,261.46 41,138.96 December 4, 2018 - Page 290 of 509 Page 3 of 11 8:43 AM 01/11/18 Accrual Basis Adopt a Trail Detail n i% n e rnr Type Date Num Name Memo Class Clr Split Amount Balance Ordinary Income/Expense Income Direct Public Support Individ, Business Contributions Sales Receipt 01/03/2017 1 Town of Avon Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 5,000.00 Sales Receipt 01/03/2017 2 Berry Creek Metropolitian District Adopt a Trail Adopt a Ranger Undeposited Funds 1,250.00 6,250.00 Sales Receipt 01/03/2017 3 Single Tree Property Owners Adopt a Trail Adopt a Ranger Undeposited Funds 1,250.00 7,500.00 Sales Receipt 01/03/2017 4 Lee Rime! Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 8,500.00 Sales Receipt 01/03/2017 5 Andy Gunion Adopt a Trail Adopta Ranger Undeposited Funds 1,500.00 10,000.00 Sales Receipt 01/03/2017 6 Harry Frampton Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 15,000.00 Sales Receipt 02/01/2017 7 Vail Valley Surgery Center Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 20,000.00 Sales Receipt 02/01/2017 9 Adopt a Trail - Martha Milberry Adopt a Ranger Undeposited Funds 50.00 20,050.00 Deposit 02/14/2017 Adopt A Ranger Go Fund Me Donations Adopta Ranger WMBA Checking 1,370.02 21,420.02 Deposit 02/27/2017 Adopt A Ranger Go Fund me Donations Adopta Ranger WMBA Checking 91.80 21,511.82 Deposit 03/01/2017 Adopt A Ranger Go Fund Me Donations Adopta Ranger WMBA Checking 91.80 21,603.62 Deposit 03/02/2017 Adopt A Ranger Go Fund Me Donations Adopt a Ranger WMBA Checking 68.78 21,672.40 Deposit 03/07/2017 Adopt A Ranger Go Fund Me Donations Adopt a Ranger VVMBA Checking 91.80 21,764.20 Deposit 03/17/2017 Adopt A Ranger Go Fund me Donations Adopta Ranger WMBA Checking 91.80 21,856.00 Sales Receipt 04/02/2017 10 Friends Of Eagles Nest Adopt a Trail Adopt a Ranger Undeposited Funds 200.00 22,056.00 Sales Receipt 04/02/2017 11 RA Nelson Const Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 23,056.00 Sales Receipt 04/02/2017 12 Sonnenalp Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 24,056.00 Sales Receipt 04/02/2017 13 Alpine Bank Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 25,056.00 Sales Receipt 04/21/2017 14 National Forest Adopt a Trail - Forest Service Grant Adopt a Ranger Undeposited Funds 12,356.93 37,412.93 Sales Receipt 04/21/2017 15 National Forest Adopt a Trail - Forest Service Grant Adopta Ranger Undeposited Funds 16,159.07 53,572.00 Deposit 05/04/2017 WEPAY Adopt a Trail Adopt a Ranger WMBA Checking 91.80 53,663.80 Sales Receipt 05/09/2017 17 Town of Minturn CO Adopt a Trail - Town of Minturn Adopt a Ranger Undeposited Funds 50.00 53,713.80 Sales Receipt 05/09/2017 20 Moontime Cydery Moontime Donation AAT Adopt a Ranger Undeposited Funds 1,000.00 54,713.80 Sales Receipt 05/09/2017 21 WECMRD WECMRD Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 59,713.80 Sales Receipt 07/17/2017 060717 Michael Wehrle Adopt a Trail - Wehrle Adopt a Ranger Undeposited Funds 1,000.00 60,713.80 Sales Receipt 07/17/2017 060718 Eagle Vail Metro District Eagle Vail Metro District - Adopt a Trail Adopt a Ranger Undeposited Funds 1,667.00 62,380.80 Sales Receipt 07/17/2017 060719 Edwards Metro District Edwards Metro District - Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 63,380.80 Sales Receipt 10/02/2017 060722 VRD Vail Rec District - Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 68,380.80 Sales Receipt 10/02/2017 060723 eagle Vail Property Owners Eagle Vail Property Owners - Adopt a Trail Adopt a Ranger Undeposited Funds 833.00 69,213.80 Invoice 11/29/2017 4 Town of Vail- 2017 Adopt a Trail Support Adopt a Ranger Accounts Receivable 5,000.00 74,213.80 Total Individ, Business Contributions 74,213.80 74,213.80 Total Direct Public Support 74,213.80 74,213.80 Total Income 74,213.80 74,213.80 Expense Contract Services Outside Contract Services Bill 02/08/2017 Jan 2 to 15 Michelle Wolffe Jan 2 to 15 2017 Adopt a Ranger Accounts Payable 110.00 110.00 Bill 02/08/2017 Jan16 to 29 Michelle Wolffe Jan 16 to 29 Adopt a Ranger Accounts Payable 132.00 242.00 Bill 03/07/2017 Jan30-Feb12 Michelle Wolffe Contract hours Jan30-Feb12 Adopta Ranger Accounts Payable 341.00 583.00 Bill 03/07/2017 Feb13-Feb26 Michelle Wolffe Contract Hours Feb 13-26 Adopta Ranger Accounts Payable 396.00 979.00 Bill 03/12/2017 2.27-3.12 Payroll Michelle Wolffe Adopta Ranger Accounts Payable 363.00 1,342.00 Bill 03/26/2017 3.13-3.26 Payroll Michelle Wolffe Adopta Ranger Accounts Payable 528.00 1,870.00 Bill 04/09/2017 3.27-4.9 Payroll Michelle Wolffe Adopta Ranger Accounts Payable 638.00 2,508.00 Bill 04/23/2017 4.10-4.23 Payroll Michelle Wolffe Adopta Ranger Accounts Payable 814.00 3,322.00 Bill 05/05/2017 050717 Michelle Wolffe Michell Wolf 04/24/17-05/07/17 36 Hours Adopt a Ranger Accounts Payable 792.00 4,114.00 Deposit 05/09/2017 OIS training reim Adopt a Ranger WMBA Checking -20.00 4,094.00 Page 4 of 11 December 4, 2018 - Page 291 of 509 8:43 AM 01/11/18 Accrual Basis Adopt a Trail Detail A i1 n nrw T •e Date Num Name Memo Class Clr Slit Amount Balance Bill 05/31/2017 053117 Michelle Wolffe 05/08/17-05/21/17 35 Hours Adopt a Ranger Accounts Payable 770.00 4,864.00 Bill 06/05/2017 060417 Michelle Wolffe 05/22/17-06/04/17 38 Hours Adopt a Ranger Accounts Payable 836.00 5,700.00 Bill 06/18/2017 061817 Kate DeMorest K.DeMorest 05/22/17 - 06/18/17 113 Hours @ $23 Adopt a Ranger Accounts Payable 2,599.00 8,299.00 Bill 06/18/2017 887 Volunteers for Outdoor Colorado Adopt a Trail Skills training 12 Trainees Adopt a Ranger Accounts Payable 240.00 8,539.00 Bill 06/18/2017 061817 Michelle Wolffe M. Wolfe - 06/05/17 - 06/18/17 43.5 Hours Adopt a Ranger Accounts Payable 957.00 9,496.00 Bill 07/02/2017 061917-070217 1 Michelle Wolffe 06/19/17 - 07/02/17 M.Wolfe 32 Hours Adopt a Ranger Accounts Payable 704.00 10,200.00 Bill 07/02/2017 061917-070217 Kate DeMorest 06/19/17 - 07/02/17 K.DeMorest 76 Hours Adopta Ranger Accounts Payable 1,748.00 11,948.00 Bill 07/17/2017 070317-071617 Michelle Wolffe M.Wolfe 07/03/17-07/16/17 40 Hours Adopta Ranger Accounts Payable 880.00 12,828.00 Bill 07/17/2017 070317-071617 Kate DeMorest K.DeMorest 07/03/17-07/16/17 51 Hours Adopta Ranger Accounts Payable 1,173.00 14,001.00 Bill 07/31/2017 071617-073017 Michelle Wolffe 07/16/17 - 07/30/17 17 Hours - Office Adopt a Ranger Accounts Payable 374.00 14,375.00 Bill 07/31/2017 071617-073017 Kate DeMorest 07/16/17-07/30/17 80 Hours 12 Office, 68 Trail Adopt a Ranger Accounts Payable 1,840.00 16,215.00 Bill 08/16/2017 0731-0813 Kate DeMorest Kate Demorest 07/31/17-08/13/17 13 Hrs Adopt a Ranger Accounts Payable 299.00 16,514.00 Bill 08/16/2017 0731-0813 Michelle Wolffe Michelle Wolfe 07/31/17 - 08/13/17 39 Hrs Adopta Ranger Accounts Payable 858.00 17,372.00 Bill 08/27/2017 081417-082717 Michelle Wolffe M.Wolfe 08/14/17-08/27/17 35 hours Adopta Ranger Accounts Payable 770.00 18,142.00 Bill 08/27/2017 08147-082717 Kate DeMorest K.DeMorest 08/14/17-08/27/17 80 hours Adopt a Ranger Accounts Payable 1,840.00 19,982.00 Bill 09/10/2017 091017 Kate DeMorest 08/28/17-09/10/17 40 Hours Adopt a Ranger Accounts Payable 920.00 20,902.00 Bill 09/10/2017 091017 Michelle Wolffe 08/28/17-09/10/17 27 Hours Michelle Wolffe Adopt a Ranger Accounts Payable 594.00 21,496.00 Bill 10/03/2017 092417 Kate DeMorest 09/11/17 - 09/24/17 Kate DeMorest 60 Hours Adopt a Ranger Accounts Payable 1,380.00 22,876.00 Bill 10/03/2017 092417 Michelle Wolffe 09/11/17 - 09/24/17 Michelle Wolffe 32 Hours Adopt a Ranger Accounts Payable 704.00 23,580.00 Bill 10/17/2017 100817 Michelle Wolffe M.Wolfe 09/25/17 - 10/08/17 46 Hours Adopt a Ranger Accounts Payable 1,012.00 24,592.00 Bill 10/20/2017 100817 Kate DeMorest 09/25/17 - 10/08/17 Kate DeMorest 87 Hours Adopt a Ranger Accounts Payable 2,001.00 26,593.00 Bill 10/25/2017 102217 Michelle Wolffe 10/9/17 - 10/22/17 M.Wolffe 31 Hours Adopt a Ranger Accounts Payable 682.00 27,275.00 Bill 10/25/2017 102217 Kate DeMorest 10/9/17 - 10/22/17 K.DeMorest 40 Hours Adopta Ranger Accounts Payable 920.00 28,195.00 Bill 11/05/2017 102317-110517 Kate DeMorest Kate DeMorest 10/23/17 - 11/05/17 35 Hours Adopt a Ranger Accounts Payable 805.00 29,000.00 Bill 11/05/2017 112017-120317 Michelle Wolffe Michelle Wolffe 11/20/17 - 12/03/17 21 Hours Adopt a Ranger Accounts Payable 462.00 29,462.00 Bill 11/28/2017 110617-111917 Michelle Wolffe M.Wolffe 11/06/17 - 11/19/17 30 Hours Adopt a Ranger Accounts Payable 660.00 30,122.00 Bill 11/28/2017 102317-110517 Michelle Wolffe M.Wolffe 10/23/17 - 11/05/17 23 Hours Adopta Ranger Accounts Payable 506.00 30,628.00 Bill 12/17/2017 121717 Michelle Wolffe Michelle Wolffe 12/4/17 - 12/17/17 16 Hours Adopt a Ranger Accounts Payable 352.00 30,980.00 Bill 12/31/2017 123117 Michelle Wolffe Michelle Wolffe 12/18/17 - 12/31/17 8 Hours Adopt a Ranger Accounts Payable 176.00 31,156.00 Total Outside Contract Services 31,156.00 31,156.00 Contract Services - Other Bill 05/31/2017 053117 Jordon Duvall 66 Hours @ $22 Adopt a Ranger Accounts Payable 1,452.00 1,452.00 Total Contract Services - Other 1,452.00 1,452.00 Total Contract Services 32,608.00 32,608.00 Operations Printing and Copying Check 03/02/2017 VistaPrint Vista Print Adopta Ranger WMBA Checking 44.83 44.83 Bill 06/02/2017 175235 Rocky Mountain Reprographics Adopt a trail signage Adopt a Ranger Accounts Payable 26.45 71.28 Bill 06/18/2017 175098 Rocky Mountain Reprographics Adopt a Trail Signage Adopt a Ranger Accounts Payable 67.21 138.49 Bill 07/07/2017 175311 Rocky Mountain Reprographics Waming Trail work signs Adopt a Ranger Accounts Payable 177.55 316.04 Bill 10/03/2017 100217 Rocky Mountain Reprographics Rocky Mtn Reprographics Adopt a Ranger Accounts Payable 245.13 561.17 Total Printing and Copying 561.17 561.17 Supplies Check 05/04/2017 CC Walmart Camera charger & chip - Adopt a trail Adopt a Ranger WMBA Checking 234.30 234.30 Check 05/04/2017 cc Walmart Adopt a trail First aid kit, supplies Adopt a Ranger WMBA Checking 111.63 345.93 Check 05/05/2017 cc Home Depot Adopt a trail 4x4 posts, drill, bits, driver Adopt a Ranger WMBA Checking 759.16 1,105.09 Bill 06/18/2017 MT Michelle Wolffe AAT Supplies Adopta Ranger Accounts Payable 118.33 1,223.42 Check 08/08/2017 Walmart misc supplies Adopta Ranger WMBA Checking 163.57 1,386.99 Bill 08/09/2017 10985-1 Say No More! Promotions Adopt A Trail Hats 115 Adopta Ranger Accounts Payable 992.75 2,379.74 Bill 10/03/2017 Vail Brewing Company End of Season supplies Adopt a Ranger Accounts Payable 100.00 2,479.74 Page 5 of 11 December 4, 2018 - Page 292 of 509 8:43 AM 01/11/18 Accrual Basis Adopt a Trail Detail A i. n e rnr Type Date Num Name Memo Class Clr Split Amount Balance Bill 12/05/2017 Reims Michelle Wolffe Adopt a Trail supplies reim Adopt a Ranger Accounts Payable 192.65 2,672.39 Total Supplies 2,672.39 2,672.39 Tools Check 04/10/2017 Construction Gear.com Adopt a Trail Hard Hats - Custom Adopt a Ranger WMBA Checking 263.28 263.28 Check 04/10/2017 Shell Oil Move Adopt a Trail Shed Adopt a Ranger WMBA Checking 200.00 463.28 Bill 05/05/2017 191 Tools for Trails 9 pulaski, 5 McCleod, 8 shovels, 15 pocket boy s Adopt a Ranger Accounts Payable 1,914.06 2,377.34 Bill 05/31/2017 Tool Box Michelle Wolffe 65 Inch Tool Box Adopt a Ranger Accounts Payable 350.00 2,727.34 Check 06/29/2017 CC ARMYNAVY.COM - Canvass bag for hard hats Adopt a Ranger WMBA Checking 77.97 2,805.31 Check 07/31/2017 VISA Trail Services - 8 Pick Mattocks Adopt a Ranger WMBA Checking 397.17 3,202.48 Check 10/03/2017 1104 Kate DeMorest Bench Vise reim Adopt a Ranger WMBA Checking 90.60 3,293.08 Total Tools 3,293.08 3,293.08 Total Operations 6,526.64 6,526.64 Trail ConstructionlMaintenance Bill 05/05/2017 SQ17712417 Utah Correctional Industries Adopt a Trail Signage Adopt a Ranger Accounts Payable 118.32 118.32 Check 07/17/2017 VISA1 Utah Correctional Industries Signage- Trail Work Waming sign Adopt a Ranger WMBA Checking 33.34 151.66 Total Trail Construction/Maintenance 151.66 151.66 Travel and Meetings Conference, Convention, Meeting Bill 08/24/2017 100717 Walking Mountains Adopt a Trail End of Season Party Location Adopt a Ranger Accounts Payable 50.00 50.00 Total Conference, Convention, Meeting 50.00 50.00 Total Travel and Meetings 50.00 50.00 Total Expense 39,336.30 39,336.30 Net Ordinary Income 34,877.50 34,877.50 Net Income 1 1 34,877.50 34,877.50 Page 6 of 11 December 4, 2018 - Page 293 of 509 8:45 AM 01/11/18 Accrual Basis Detail - All n i% n e rnr Type Date Num Name Memo Class Clr Split Amount Balance Ordinary Income/Expense Income Direct Public Support Corporate Contributions Sales Receipt 05/09/2017 18 Mark Malin Misc Donation -M.Malin Undeposited Funds 400.00 400.00 Sales Receipt 05/09/2017 19 Powers Family Foundation Powers FamilyAnnual Donation Undeposited Funds 500.00 900.00 Sales Receipt 05/09/2017 22 Kick Off Raffle proceeds Undeposited Funds 913.00 1,813.00 Total Corporate Contributions 1,813.00 1,813.00 Individ, Business Contributions Sales Receipt 01/03/2017 1 Town of Avon Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 5,000.00 Sales Receipt 01/03/2017 2 Berry Creek Metropolitian District Adopt a Trail Adopt a Ranger Undeposited Funds 1250.00 6,250.00 Sales Receipt 01/03/2017 3 Single Tree Property Owners Adopt a Trail Adopt a Ranger Undeposited Funds 1250.00 7,500.00 Sales Receipt 01/03/2017 4 Lee Rime! Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 8,500.00 Sales Receipt 01/03/2017 5 Andy Gunion Adopt a Trail Adopt a Ranger Undeposited Funds 1,500.00 10,000.00 Sales Receipt 01/03/2017 6 Harry Frampton Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 15,000.00 Sales Receipt 02/01/2017 7 Vail Valley Surgery Center Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 20,000.00 Sales Receipt 02/01/2017 9 Adopt a Trail - Martha Milberry Adopt a Ranger Undeposited Funds 50.00 20,050.00 Deposit 02/14/2017 Adopt A Ranger Go Fund Me Donations Adopta Ranger WMBA Checking 1,370.02 21,420.02 Deposit 02/27/2017 Adopt A Ranger Go Fund me Donations Adopta Ranger VVMBA Checking 91.80 21,511.82 Deposit 03/01/2017 Adopt A Ranger Go Fund Me Donations Adopta Ranger WMBA Checking 91.80 21,603.62 Deposit 03/02/2017 Adopt A Ranger Go Fund Me Donations Adopta Ranger WMBA Checking 68.78 21,672.40 Deposit 03/07/2017 Adopt A Ranger Go Fund Me Donations Adopta Ranger WMBA Checking 91.80 21,764.20 Deposit 03/17/2017 Adopt A Ranger Go Fund me Donations Adopt a Ranger WMBA Checking 91.80 21,856.00 Sales Receipt 04/02/2017 10 Friends Or Eagles Nest Adopt a Trail Adopt a Ranger Undeposited Funds 200.00 22,056.00 Sales Receipt 04/02/2017 11 RA Nelson Const Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 23,056.00 Sales Receipt 04/02/2017 12 Sonnenalp Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 24,056.00 Sales Receipt 04/02/2017 13 Alpine Bank Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 25,056.00 Sales Receipt 04/21/2017 14 National Forest Adopt a Trail - Forest Service Grant Adopt a Ranger Undeposited Funds 12,356.93 37,412.93 Sales Receipt 04/21/2017 15 National Forest Adopt a Trail - Forest Service Grant Adopt a Ranger Undeposited Funds 16,159.07 53,572.00 Deposit 05/04/2017 WEPAY Adopt a Trail Adopt a Ranger WMBA Checking 91.80 53,663.80 Deposit 05/04/2017 Kick off Party donations, misc WMBA Checking 224.64 53,888.44 Sales Receipt 05/09/2017 17 Town of Minturn CO Adopt a Trail - Town of Minturn Adopt a Ranger Undeposited Funds 50.00 53,938.44 Sales Receipt 05/09/2017 20 Moontime Cydery Moontime Donation AAT Adopt a Ranger Undeposited Funds 1,000.00 54,938.44 Sales Receipt 05/09/2017 21 WECMRD WECMRD Adopta Trail Adopta Ranger Undeposited Funds 5,000.00 59,938.44 Sales Receipt 07/17/2017 060717 Michael Wehrle Adopt a Trail - Wehrle Adopt a Ranger Undeposited Funds 1,000.00 60,938.44 Sales Receipt 07/17/2017 060718 Eagle Vail Metro District Eagle Vail Metro District - Adopt a Trail Adopt a Ranger Undeposited Funds 1,667.00 62,605.44 Sales Receipt 07/17/2017 060719 Edwards Metro District Edwards Metro District - Adopt a Trail Adopt a Ranger Undeposited Funds 1,000.00 63,605.44 Sales Receipt 07/17/2017 060720 The Kind Donation - Classic Klunker Event Undeposited Funds 241.00 63,846.44 Sales Receipt 07/20/2017 23 Garfinkel ENT LTD Garfinkels donation -General fund -signs Undeposited Funds 1,500.00 65,346.44 Sales Receipt 10/02/2017 060722 VRD Vail Rec District - Adopt a Trail Adopt a Ranger Undeposited Funds 5,000.00 70,346.44 Sales Receipt 10/02/2017 060723 eagle Vail Property Owners Eagle Vail Property Owners - Adopt a Trail Adopt a Ranger Undeposited Funds 833.00 71,179.44 Invoice 11/29/2017 4 Town of Vail- 2017 Adopt a Trail Support Adopt a Ranger Accounts Receivable 5,000.00 76,179.44 Total Individ, Business Contributions 76,179.44 76,179.44 Total Direct Public Support 77,992.44 77,992.44 Other Types of Income Miscellaneous Revenue Deposit 05/09/2017 Craft Beer Festival - Tips WMBA Checking 432.00 432.00 Bill 06/02/2017 W-871602 Mountain Beverage Company Craft Brewery Beer balance Accounts Payable -62.80 369.20 Deposit 06/19/2017 ACH Craft Beer Classic - CC Sales WMBA Checking 2,149.66 2,518.86 Check 06/29/2017 ACH Craft Beer Classic - Beer invoice WMBA Checking -810.00 1,708.86 Page 7 of 11 December 4, 2018 - Page 294 of 509 8:45 AM 01/11/18 Accrual Basis Detail - All n i•• n ern Type Date Num Name Memo Class Clr Split Amount Balance Check 07/17/2017 eft colorado Dept of Revenue Classic Beer Festival Sales tax WMBA Checking -225.00 1,483.86 Check 07/20/2017 1085 Town of Vail WMBA Craft Beer Classic Sales Tax WMBA Checking -210.59 1,273.27 Deposit 08/08/2017 Blood Road Event WMBA Checking 125.32 1,398.59 Deposit 08/08/2017 Blood Road Event WMBA Checking 199.69 1,598.28 Deposit 09/05/2017 Blood Road Event WMBA Checking 515.00 2,113.28 Deposit 09/30/2017 12449 Craft Beer Festival Final WMBA Checking 1,785.10 3,898.38 Deposit 11/06/2017 Kroger Kroger- City Market card program WMBA Checking 51.53 3,949.91 Total Miscellaneous Revenue 3,949.91 3,949.91 Total Other Types of Income 3,949.91 3,949.91 Program Income Membership Dues Sales Receipt 02/01/2017 8 International Mtn Bike Assoc IMBA Chapter Member Dues Undeposited Funds 342.50 342.50 Sales Receipt 05/09/2017 16 International Mtn Bike Assoc IMBA Chapter Member Dues Undeposited Funds 248.00 590.50 Deposit 08/08/2017 IMBA Dues WMBA Checking 137.55 728.05 Sales Receipt 10/02/2017 060721 International Mtn Bike Assoc IMBA Chapter Member Dues Undeposited Funds 1,142.00 1,870.05 Deposit 11/06/2017 IMBA IMBA dues check WMBA Checking 264.00 2,134.05 Total Membership Dues 2,134.05 2,134.05 Program Service Fees Bill 03/22/2017 175035 Rocky Mountain Reprographics Adopt a Trail stickers Accounts Payable -88.13 -88.13 Total Program Service Fees -88.13 -88.13 Total Program Income 2,045.92 2,045.92 Total Income 83,988.27 83,988.27 Expense Bank Fees Check 01/02/2017 Service Charge WMBA Checking 2.00 2.00 Check 02/02/2017 Service Charge WMBA Checking 16.99 18.99 Check 03/02/2017 Service Charge WMBA Checking 2.00 20.99 Check 04/02/2017 Service Charge WMBA Checking 12.00 32.99 Check 05/02/2017 Service Charge WMBA Checking 2.00 34.99 Check 06/02/2017 Service Charge WMBA Checking 2.00 36.99 Check 07/02/2017 Service Charge WMBA Checking 2.00 38.99 Check 08/02/2017 Service Charge WMBA Checking 2.00 40.99 Check 09/02/2017 Service Charge WMBA Checking 2.00 42.99 Check 10/02/2017 Service Charge WMBA Checking 2.00 44.99 Check 11/02/2017 Service Charge WMBA Checking 2.00 46.99 Check 12/02/2017 Service Charge WMBA Checking 2.00 48.99 Total Bank Fees 48.99 48.99 Contract Services Outside Contract Services Bill 02/08/2017 Jan 2 to 15 Michelle Wolffe Jan 2 to 15 2017 Adopt a Ranger Accounts Payable 110.00 110.00 Bill 02/08/2017 Jan16 to 29 Michelle Wolffe Jan 16 to 29 Adopt a Ranger Accounts Payable 132.00 242.00 Bill 03/07/2017 Jan30-Feb12 Michelle Wolffe Contract hours Jan30-Feb12 Adopt a Ranger Accounts Payable 341.00 583.00 Bill 03/07/2017 Feb13-Feb26 Michelle Wolffe Contract Hours Feb 13-26 Adopt a Ranger Accounts Payable 396.00 979.00 Bill 03/12/2017 2.27-3.12 Payroll Michelle Wolffe Adopt a Ranger Accounts Payable 363.00 1,342.00 Bill 03/26/2017 3.13-3.26 Payroll Michelle Wolffe Adopt a Ranger Accounts Payable 528.00 1,870.00 Bill 04/09/2017 3.27-4.9 Payroll Michelle Wolffe Adopt a Ranger Accounts Payable 638.00 2,508.00 Bill 04/23/2017 4.10-4.23 Payroll Michelle Wolffe Adopt a Ranger Accounts Payable 814.00 3,322.00 Bill 05/05/2017 050717 Michelle Wolffe Michell Wolf 04/24/17-05/07/17 36 Hours Adopt a Ranger Accounts Payable 792.00 4,114.00 Deposit 05/09/2017 OIS training reim Adopt a Ranger VVMBA Checking -20.00 4,094.00 Bill 05/31/2017 053117 Michelle Wolffe 05/08/17-05/21/17 35 Hours Adopt a Ranger Accounts Payable 770.00 4,864.00 Page 8 of 11 December 4, 2018 - Page 295 of 509 8:45 AM 01/11/18 Accrual Basis Detail - All n i•• n e 1 n Type Date Num Name Memo Class Clr Split Amount Balance Bill 06/05/2017 060417 Michelle Wolffe 05/22/17-06/04/17 38 Hours Adopt a Ranger Accounts Payable 836.00 5,700.00 Bill 06/18/2017 061817 Kate DeMorest K.DeMorest 05/22/17 - 06/18/17 113 Hours @ $23 Adopt a Ranger Accounts Payable 2,599.00 8,299.00 Bill 06/18/2017 887 Volunteers for Outdoor Colorado Adopt a Trail Skills training 12 Trainees Adopt a Ranger Accounts Payable 240.00 8,539.00 Bill 06/18/2017 061817 Michelle Wolffe M. Wolfe - 06/05/17 - 06/18/17 43.5 Hours Adopt a Ranger Accounts Payable 957.00 9,496.00 Bill 07/02/2017 061917-070217 Michelle Wolffe 06/19/17 - 07/02/17 M.Wolfe 32 Hours Adopt a Ranger Accounts Payable 704.00 10,200.00 Bill 07/02/2017 061917-070217 Kate DeMorest 06/19/17 - 07/02/17 K.DeMorest 76 Hours Adopt a Ranger Accounts Payable 1,748.00 11,948.00 Bill 07/17/2017 070317-071617 Michelle Wolffe M.Wolfe 07/03/17-07/16/17 40 Hours Adopt a Ranger Accounts Payable 880.00 12,828.00 Bill 07/17/2017 070317-071617 Kate DeMorest K.DeMorest 07/03/17-07/16/17 51 Hours Adopt a Ranger Accounts Payable 1,173.00 14,001.00 Bill 07/31/2017 071617-073017 Michelle Wolffe 07/16/17 - 07/30/17 17 Hours - Office Adopt a Ranger Accounts Payable 374.00 14,375.00 Bill 07/31/2017 071617-073017 Kate DeMorest 07/16/17-07/30/17 80 Hours 12 Office, 68 Trail Adopt a Ranger Accounts Payable 1,840.00 16,215.00 Bill 08/16/2017 0731-0813 Kate DeMorest Kate Demorest 07/31/17-08/13/17 13 Hrs Adopt a Ranger Accounts Payable 299.00 16,514.00 Bill 08/16/2017 0731-0813 Michelle Wolffe Michelle Wolfe 07/31/17 - 08/13/17 39 Hrs Adopt a Ranger Accounts Payable 858.00 17,372.00 Bill 08/27/2017 081417-082717 Michelle Wolffe M.Wolfe 08/14/17-08/27/17 35 hours Adopt a Ranger Accounts Payable 770.00 18,142.00 Bill 08/27/2017 08147-082717 Kate DeMorest K.DeMorest 08/14/17-08/27/17 80 hours Adopt a Ranger Accounts Payable 1,840.00 19,982.00 Bill 09/10/2017 091017 Kate DeMorest 08/28/17-09/10/17 40 Hours Adopt a Ranger Accounts Payable 920.00 20,902.00 Bill 09/10/2017 091017 Michelle Wolffe 08/28/17-09/10/17 27 Hours Michelle Wolffe Adopt a Ranger Accounts Payable 594.00 21,496.00 Bill 10/03/2017 092417 Kate DeMorest 09/11/17 - 09/24/17 Kate DeMorest 60 Hours Adopt a Ranger Accounts Payable 1,380.00 22,876.00 Bill 10/03/2017 092417 Michelle Wolffe 09/11/17 - 09/24/17 Michelle Wolffe 32 Hours Adopt a Ranger Accounts Payable 704.00 23,580.00 Bill 10/17/2017 100817 Michelle Wolffe M.Wolfe 09/25/17 - 10/08/17 46 Hours Adopt a Ranger Accounts Payable 1,012.00 24,592.00 Bill 10/20/2017 100817 Kate DeMorest 09/25/17 - 10/08/17 Kate DeMorest 87 Hours Adopt a Ranger Accounts Payable 2,001.00 26,593.00 Bill 10/25/2017 102217 Michelle Wolffe 10/9/17 - 10/22/17 M.Wolffe 31 Hours Adopt a Ranger Accounts Payable 682.00 27,275.00 Bill 10/25/2017 102217 Kate DeMorest 10/9/17 - 10/22/17 K.DeMorest 40 Hours Adopt a Ranger Accounts Payable 920.00 28,195.00 Bill 11/05/2017 102317-110517 Kate DeMorest Kate DeMorest 10/23/17 - 11/05/17 35 Hours Adopt a Ranger Accounts Payable 805.00 29,000.00 Bill 11/05/2017 112017-120317 Michelle Wolffe Michelle Wolffe 11/20/17 - 12/03/17 21 Hours Adopt a Ranger Accounts Payable 462.00 29,462.00 Bill 11/28/2017 110617-111917 Michelle Wolffe M.Wolffe 11/06/17 - 11/19/17 30 Hours Adopt a Ranger Accounts Payable 660.00 30,122.00 Bill 11/28/2017 102317-110517 Michelle Wolffe M.Wolffe 10/23/17 - 11/05/17 23 Hours Adopt a Ranger Accounts Payable 506.00 30,628.00 Bill 12/17/2017 121717 Michelle Wolffe Michelle Wolffe 12/4/17 - 12/17/17 16 Hours Adopt a Ranger Accounts Payable 352.00 30,980.00 Bill 12/31/2017 123117 Michelle Wolffe Michelle Wolffe 12/18/17 - 12/31/17 8 Hours Adopt a Ranger Accounts Payable 176.00 31,156.00 Total Outside Contract Services 31,156.00 31,156.00 Contract Services - Other Bill 05/31/2017 053117 Jordon Duvall 66 Hours @ $22 Adopt a Ranger Accounts Payable 1,452.00 1,452.00 Total Contract Services - Other 1,452.00 1,452.00 Total Contract Services 32,608.00 32,608.00 Facilities and Equipment Rent, Parking, Utilities Bill 02/20/2017 meeting room Town of Minturn meeting room for AAT Training Accounts Payable 50.00 50.00 Total Rent, Parking, Utilities 50.00 50.00 Facilities and Equipment- Other Bill 04/25/2017 gravel Schaeffer Hyde gravel for AAT Shed Accounts Payable 50.00 50.00 Total Facilities and Equipment - Other 50.00 50.00 Total Facilities and Equipment 100.00 100.00 Operations Books, Subscriptions, Reference Check 07/17/2017 Google Google storage WMBA Checking 1.99 1.99 Check 08/08/2017 Google Google 15gig WMBA Checking 19.99 21.98 Total Books, Subscriptions, Reference 21.98 21.98 Printing and Copying Check 03/02/2017 VistaPrint Vista Print Adopt a Ranger WMBA Checking 44.83 44.83 Bill 06/02/2017 175235 Rocky Mountain Reprographics Adopt a trail signage Adopt a Ranger Accounts Payable 26.45 71.28 Bill 06/18/2017 175098 Rocky Mountain Reprographics Adopt a Trail Signage Adopt a Ranger Accounts Payable 67.21 138.49 Page 9 of 11 December 4, 2018 - Page 296 of 509 8:45 AM 01/11/18 Accrual Basis Detail - All A i, n nrn T •e Date Num Name Memo Class Clr Slit Amount Balance Bill 07/07/2017 175311 Rocky Mountain Reprographics Waming Trail work signs Adopt a Ranger Accounts Payable 177.55 316.04 Bill 10/03/2017 100217 Rocky Mountain Reprographics Rocky Mtn Reprographics Adopt a Ranger Accounts Payable 245.13 561.17 Total Printing and Copying 561.17 561.17 Supplies Check 05/04/2017 CC Walmart Camera charger & chip - Adopt a trail Adopt a Ranger WMBA Checking 234.30 234.30 Check 05/04/2017 cc Walmart Adopt a trail First aid kit, supplies Adopt a Ranger WMBA Checking 111.63 345.93 Check 05/05/2017 cc Home Depot Adopt a trail 4x4 posts, drill, bits, driver Adopt a Ranger WMBA Checking 759.16 1,105.09 Bill 06/18/2017 AAT Michelle Wolffe AAT Supplies Adopt a Ranger Accounts Payable 118.33 1,223.42 Check 08/08/2017 Walmart mist supplies Adopt a Ranger WMBA Checking 163.57 1,386.99 Bill 08/09/2017 10985-1 Say No More! Promotions Adopt A Trail Hats 115 Adopt a Ranger Accounts Payable 992.75 2,379.74 Bill 10/03/2017 Vail Brewing Company End of Season supplies Adopt a Ranger Accounts Payable 100.00 2,479.74 Bill 12/05/2017 Reims Michelle Wolffe Adopt a Trail supplies reim Adopt a Ranger Accounts Payable 192.65 2,672.39 Total Supplies 2,672.39 2,672.39 Tools Bill 02/20/2017 Tool box The Kind Bikes and Skis Tool box for Berry Creek Accounts Payable 500.00 500.00 Check 04/10/2017 Construction Gear.com Adopt a Trail Hard Hats - Custom Adopt a Ranger VVMBA Checking 263.28 763.28 Check 04/10/2017 Shell Oil Move Adopt a Trail Shed Adopt a Ranger WMBA Checking 200.00 963.28 Bill 05/05/2017 191 Tools for Trails 9 pulaski, 5 McCleod, 8 shovels, 15 pocket boys Adopt a Ranger Accounts Payable 1,914.06 2,877.34 Bill 05/31/2017 Tool Box Michelle Wolffe 65 Inch Tool Box Adopt a Ranger Accounts Payable 350.00 3,227.34 Check 06/29/2017 CC ARMYNAVY.COM - Canvass bag for hard hats Adopt a Ranger WMBA Checking 77.97 3,305.31 Check 07/31/2017 VISA Trail Services - 8 Pick Mattocks Adopt a Ranger WMBA Checking 397.17 3,702.48 Check 10/03/2017 1104 Kate DeMorest Bench Vise reim Adopt a Ranger WMBA Checking 90.60 3,793.08 Total Tools 3,793.08 3,793.08 Total Operations 7,048.62 7,048.62 Other Types of Expenses Insurance - Liability, D and 0 Check 03/17/2017 Pachner & Associates DM/ Pachner & Assoc WMBA Checking 606.00 606.00 Bill 06/18/2017 21760 Pachner & Associates General Liability #SRPGP-101-0716 6/14/17 - 6/14/18 Accounts Payable 568.00 1,174.00 Bill 08/09/2017 21761 Pachner & Associates Group Accident & Health Policy #US525106 Accounts Payable 245.00 1,419.00 Total Insurance - Liability, D and 0 1,419.00 1,419.00 Other Costs Check 09/05/2017 Club Apparel LLC - Bike Jerseys WMBA Checking 794.72 794.72 Total Other Costs 794.72 794.72 Total Other Types of Expenses 2,213.72 2,213.72 Trail Construction/Maintenance Bill 05/05/2017 SO17712417 Utah Correctional Industries Adopt a Trail Signage Adopt a Ranger Accounts Payable 118.32 118.32 Check 07/17/2017 VISA1 Utah Correctional Industries Signage - Trail Work Waming sign Adopt a Ranger WMBA Checking 33.34 151.66 Total Trail Construction/Maintenance 151.66 151.66 Travel and Meetings Conference, Convention, Meeting Check 05/04/2017 Eagle County Room Rental WMBA Checking 50.00 50.00 Deposit 05/09/2017 Room rental reim WMBA Checking -50.00 0.00 Bill 08/24/2017 100717 Walking Mountains Adopt a Trail End of Season Party Location Adopt a Ranger Accounts Payable 50.00 50.00 Check 10/02/2017 Northside - IMBA meeting WMBA Checking 85.32 135.32 Check 10/03/2017 cc Minturn Lunch IMBA ride center WMBA Checking 108.00 243.32 Total Conference, Convention, Meeting 243.32 243.32 Total Travel and Meetings 243.32 243.32 Website Bill 02/09/2017 1549 Blizzard Press Accounts Payable 270.00 270.00 Check 04/07/2017 EFT Flywheel Website WMBA Checking 165.00 435.00 Page 10 of 11 December 4, 2018 - Page 297 of 509 8:45 AM 01/11/18 Accrual Basis Detail - All A i. n e r Ai Type Date Num Name Memo Class Clr Split Amount Balance Total Website 435.00 435.00 Total Expense 42,849.31 42,849.31 Net Ordinary Income 41,138.96 41,138.96 Net Income 1 1 41,138.96 41,138.96 Page 11 of 11 December 4, 2018 - Page 298 of 509 8/22/2018 Eagle River Youth Coalition (ERYC) Curtis Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Eagle River Youth Coalition (ERYC) First Name of Contact Person : Mikayla Last Name of Contact Person : Curtis E-mail Address : mcurtis@eagleyouth.org Mailing Address : PO Box 4613 City : Edwards State : US -00 Zip : 81632 December 4, 2018 - Pa0 299 0 8/22/2018 Telephone Number : 9709499250 Members and Titles of your Governing Board : Kristin Grems, President Jennifer Coulson, Vice President Thomas Pohl, Treasurer Korrine Winstead, Secretary Organization Mission Statement : The mission of the Eagle River Youth Coalition is to collaborate with Eagle River youth -serving organizations to assess prevention needs, coordinate substance abuse reduction efforts, and build capacity through strategic plans, programs and policies around the issues facing young people. Organization fiscal year-end: : 2017-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $2,500 Who currently funds your organization? : The Eagle River Youth Coalition is currently receives funds from SAMHSA Drug Free Communities, CO Office of Behavioral Health, Eagle County, Towns of Gypsum, Eagle, Avon, Vail Valley Cares, United Way of Eagle River Valley, Kaiser Permanente, Office of District Attorney 5th Judicial District, Climax Molybdenum, Slifer Smith & Frampton Foundation, East West Destination Hospitality, Alpine Bank, US Bank Foundation, Vail Resorts EpicPromise, FirstBank, Eagle River Foundation, and The Colorado Trust. How will the contribution be used? : The contribution will be used to support programs and services provided to residents of Vail and for youth within the Town of Vail, including in -school prevention education, Youth Leaders Council facilitation, family education, youth alternative activities, and facilitation of the Youth Master Plan. ERYC works with local schools, beginning in elementary and all the way through high school, to provide life skills and prevention education to support youth making healthy decisions in life. These programs teach youth how to understand healthy decision making, integrate resiliency skills, teach ways to stand up to peer pressure, and encourage healthy behaviors and activities. The Youth Leaders Council is comprised of youth from all high schools who represent their peers and serve as an advisory council for the entire community. ERYC ensures diverse voices and perspectives are represented on the Youth Leaders Council in order to have a rich understanding of what youth in the community are facing. These youth leaders identify key areas they want to address and meet with local decision -makers to advise on what services and supports youth would benefit from most. Last year's focus areas included mental health, substance abuse, and connecting more youth with positive activities. Family education through the Eat Chat Parent series and Families in Action program provide youth and parents with tools and information to support them through challenges they may face. The Eat Chat Parent series gives families an opportunity to hear from local experts and discuss issues they may be facing. It allows families to be informed about tough topics that they can discuss at home and create common expectation and understanding about how to make healthy decisions. The Families in Action six -session series allows families to learn communication skills and establish common expectations that enrich their family relationships and gives them an opportunity to create stronger bonds. The series is designed for families to learn skills together, practice them at home between each session and build off their progress each week. ERYC believes that when families learn information and skills together, they are much more likely to shift positively the way they relate as a family. Parents and strong family bonds are one of the first lines of preventing unhealthy behaviors and are one of the strongest protective factors we as a community can promote for our youth. ERYC works with local law enforcement, youth, educators, recreation professionals, and event producers to create safe spaces for youth to be during times when high youth substance consumption has occurred. Events have occurred following homecoming, graduation, during free concerts and around prom to provide a space for youth that is substance free and where they feel safe and free from negative peer pressure. Lastly, ERYC is facilitating a youth master plan process to bring all youth serving organizations, local December 4, 2018 - Pa0 300 0 8/22/2018 governments, businesses, youth and parents together under one common vision for meeting the needs of youth in our community. Through this process, we have been collecting and reviewing local youth behavior data, analyzing current programs and services, identifying priority youth needs, and identifying gaps in current supports for local youth. All of this work will be integrated into a community data dashboard with strategy maps and indicators so that the youth serving community can see where we are excelling in serving youth and where we can pool our resources and efforts better to address youth needs. The goal of the Youth Master Plan is to ensure that all youth in the Eagle River Valley are afforded the same supports and opportunities to pursue healthy and fulfilling lives. Through all services provided by the Eagle River Youth Coalition, we are working to instill positive healthy decision- making in youth, educate families and support stronger communication and bonds, ensure the youth voice is a part of key decisions made about youth, create safe spaces for youth to maintain healthy behaviors, and support stronger coordination, and shared outcomes and resources amongst the youth serving community. All of our efforts are valley -wide inclusive of offerings within the Town of Vail and for youth who reside in Vail and attend local schools. How does your request support item 1C of the Contribution Policy (See above) : The Eagle River Youth Coalition is committed to supporting the healthy development of youth in Vail and the Eagle River Valley, and helping to make it a healthy community for youth to grow up in. All of our efforts are designed to promote positive, healthy behaviors, and to address priority youth needs. Our family education enables families to receive accurate and timely information to have enriched conversations at home and create stronger familial bonds that support overall youth development. Life skills and prevention education in -school gives youth tools to make healthy choices and overcome negative peer pressure. Lastly, ERYC's role in enhancing community collaboration and mobilizing resources and partnerships, ensures that the community is working together in the best manner possible to support the healthy development of youth. These efforts support the overall town mission of creating a premiere and vibrant community full of opportunities for all its residents. Please Upload Organization Balance Sheet : ERYC Bal Sheet 1.1.18.pdf Please Upload Organization Income Statement : ERYCPandL2017 .pdf Linked Form : mcurtis@eagleyouth.org Submission Date : Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6770279 Last change : 2018-06-29T05:34:46+0000 December 4, 2018 - Pa0 301 0 Eagle River Youth Coalition, Inc. Balance Sheet As of January 1, 2018 ASSETS Current Assets Checking/Savings 1000 • Cash in Checking - Alpine 1001 • Checking- 1st Bank 7858 1001.15 • Unspent Integreat - Restricted 1001 • Checking- lst Bank 7858 - Other Total 1001 • Checking- 1st Bank 7858 1040 • Board Designated Reserve 1100 • Paypal Jan 1, 18 7, 311.34 30,636.62 253,712.42 284,349.04 140,209.43 146.10 Total Checking/Savings 432,015.91 Accounts Receivable 1201 • Accounts Receivable 53,098.88 Total Accounts Receivable 53,098.88 Other Current Assets 1300 • Security Deposit Paid 1,200.00 Total Other Current Assets 1,200.00 Total Current Assets 486,314.79 Fixed Assets 1200 • Computer Equipment 1202 • Accumulated Depreciation 1,773.03 -925.48 Total Fixed Assets 847.55 TOTAL ASSETS 487,162.34 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 • Accounts Payable -2,586.93 Total Accounts Payable -2,586.93 Other Current Liabilities 2100 • Payroll Liabilities 2103 • Health Insurance Liability Total 2100 • Payroll Liabilities 2110 • Direct Deposit Liabilities 2200 • Payroll Taxes 2200.1 • FICA Tax Payable 2200.2 • Federal Withheld Payable 2200.3 • State Withheld Payable 2200.6 • SUTA Liabilities Total 2200 • Payroll Taxes Total Other Current Liabilities Total Current Liabilities Total Liabilities Equity 3900 • Retained Earnings Net Income -1,699.68 -1,699.68 -11,028.05 1,935.42 2,209.00 3,997.00 598.92 8,740.34 -3,987.39 -6,574.32 -6,574.32 495, 361.66 -1,625.00 Total Equity 493,736.66 Page 1 December 4, 2018 - Page 302 c Eagle River Youth Coalition, Inc. Balance Sheet As of January 1, 2018 Jan 1,18 TOTAL LIABILITIES & EQUITY 487,162.34 Page 2 December 4, 2018 - Page 303 0 Eagle River Youth Coalition, Inc. Profit & Loss January through December 2017 Accrual Basis Jan - Dec 17 Ordinary Income/Expense Income 4000 • Grants/Foundations 50,402.81 4001 • Fees for Services 1,118.00 4100 • Individual Donations 10,443.02 4105 • Earned InteGreat Income- Unrest 21,013.14 4110 • Restricted Grant Income 4110.15 • Drug Free Communities (DFC) 134,242.18 4110.18 • LEAF-OBH Income 29,719.11 4110.19 • W/CDOT Income 4,950.00 4110.21 • InteGreat Income 21.11 • Healthy Schools 26,279.88 21.21 • Neighborhood Navigator 34,448.76 21.31 • Summer Food Communities 57,362.91 21.41 • Strategic Initiatives 73,000.00 21.51 • Grants/Foundations 999.40 21.61 • Event Income 7,519.38 4110.21 • InteGreat Income - Other 8,200.00 Total 4110.21 • InteGreat Income 207,810.33 4110.22 • Communities That Care 133,988.85 4110.23 • Respite Project 30,990.00 4110.24 • CMP/10G Income 52,235.92 4110.25 • Daniels Fund 99,809.88 4110.26 • TGYS Income 26.1 • TGYS PA Income 8,323.11 26.2 • TGYS Botbin HS Income 3,037.24 26.3 • TGYS Botvin MS Income 2,063.28 Total 4110.26 • TGYS Income 13,423.63 4110.27 • PDD/LEAF 23,952.63 4110.28 • PYD Income 1,030.28 4110.3 • CO DBH (ADAD) 100,991.53 Total 4110 • Restricted Grant Income 833,144.34 4200 • Corporate/Business Donations 5,170.00 4250 • Organization Memberships 7,800.00 4300 • Special Events Sponsors 11,800.00 4300 • Special Events - Other 13,922.00 Total 4300 • Special Events 25,722.00 4450 • Shared Employee Reimburse Incom 10,295.09 Page 1 of 3 December 4, 2018 - Page 304 0 4475 • Tenant Reimburse Income 4480 • Other/Project Reimbursement 4500 • Interest Income 4750 • TRIO Pass Through Activity Total Income Gross Profit Expense 5000 • Salaries 5100 • Workers Comp & Payroll Tax 5200 • Benefits 5250 • Contract Labor 5300 • Rent 5350 • Utilities 5600 • Postage 5800 • Professional Fees 5815 • Audit Expense 6000 • Meeting Incentives 6100 • Dues and Subscriptions 6150 • Office Expense 6500 • Insurance 6560 • Payroll Expenses 6700 • Restricted Program Expenses 6730 • 40 Assets Develop Pgm Expense Total 6700 • Restricted Program Expenses 6800 • General Project Expense 6800.15 • Drug Free Communities Exp (DFC) 6800.18 • LEAF-OBH Expenses 6800.19 • W/CDOt Grant Expenses 6800.21 • InteGreat Expense 21.0 • Admin/Overhead 21.10 • Healthy Schools Project Specifi 21.2 • Co Health Restricted Exp 21.10 • Healthy Schools Project Specifi - Other Total 21.10 • Healthy Schools Project Specifi 21.11 • Neighborhood Navigator 21.12 • Summer Food Communities Project 21.1 • Kaiser Permanente Restricted Ex 21.12 • Summer Food Communities Project - Other Total 21.12 • Summer Food Communities Project 21.13 • Strategic Initiatives Project S 21.14 • Special Event 21.3 • Office Jan - Dec 17 2,071.67 628.03 83.45 2,300.00 970,191.55 970,191.55 414,072.66 36,871.24 44, 371.05 2,370.00 13,820.00 8,864.37 64.00 4,890.75 9,500.00 2,652.92 525.00 9,418.11 4,666.00 313.25 1,193.30 1,193.30 26,493.47 6,666.11 4,844.88 21,631.13 1,295.00 21,486.40 22,781.40 7,988.07 1,262.38 13, 324.91 14,587.29 27,486.35 7,580.68 1,730.69 Page 2 of 3 December 4, 2018 - Page 305 0 21.4. • Communications 21.5 • Professional Development 21.6 • Meeting/Equity Incentives 21.7 • Professional Dev 21.8 • Technology 6800.21 • InteGreat Expense - Other Total 6800.21 • InteGreat Expense 6800.22 • Communities That Care 6800.23 • Respite Project 6800.24 • CMP/IOG 6800.25 • Daniels Fund Expense 6800.27 • PDD/LEAF Expense 6800.28 • PYD Expense 6800.3 • Co-DBH (ADAD) 6800.4 • TGYS 4.1 • TGYS- Project Alert 4.2 • TGYS-Botvin-HS 4.3 • TGYS-Botvin MS Total 6800.4 • TGYS Total 6800 • General Project Expense 6900 • Special Event Expense 7000 • Miscellaneous Total Expense Net Ordinary Income Other Income/Expense Other Income Inkind Donations Total Other Income Other Expense In kind Expense Total Other Expense Net Other Income Jan - Dec 17 1,541.32 211.52 766.13 205.00 300.98 6,698.75 113,509.31 36,220.62 35,990.00 5,412.16 19,877.27 7,507.60 1,706.20 14,175.70 5,193.11 2,081.60 0.00 7,274.71 279,678.03 3,819.64 666.87 837,757.19 132,434.36 332,632.64 332,632.64 332,632.64 332,632.64 0.00 Net Income 132,434.36 Page 3 of 3 December 4, 2018 - Page 306 0 2:03 PM Vail Mountain Rescue Group 06/17/18 Balance Sheet Prev Year Comparison Accrual Basis ASSETS Current Assets Checking/Savings 1st Bank Checking Rescue Reserve -1st Bank As of December 31, 2017 Dec 31,17 73,689.10 70,594.68 Total Checking/Savings 144,283.78 Total Current Assets Fixed Assets Vehicle -ATVs Accum Depr-Veh-ATVs Vehicle -ATVs - Other Total Vehicle -ATVs Vehicle -Snowmobiles Accum Depr-Vehicle-Snowmobiles Vehicle -Snowmobiles - Other Total Vehicle -Snowmobiles Vehicle -Trailers Accum Depr-Vehicle-Trailers Vehicle -Trailers - Other Total Vehicle -Trailers Leasehold Improv -Climbing Wall Accum depr-Leashold Impr Leasehold Improv -Climbing Wall - Other Total Leasehold Improv -Climbing Wall Dec 31, 16 $ Change 60,701.08 12,988.02 70,516.66 78.02 131,217.74 13,066.04 144,283.78 131,217.74 -42,259.77 42,259.77 -55,908.94 55, 908.94 -21,526.00 21,526.00 -57,749.00 65, 000.00 -42,259.77 42,259.77 0.00 0.00 -52,052.94 52,052.94 0.00 0.00 -22,051.00 22,051.00 0.00 0.00 -57,749.00 65,000.00 7,251.00 7,251.00 Total Fixed Assets 7,251.00 13,066.04 0.00 0.00 0.00 -3,856.00 3,856.00 525.00 -525.00 0.00 0.00 0.00 0.00 0.00 7,251.00 0.00 TOTAL ASSETS 151,534.78 138,468.74 13,066.04 LIABILITIES & EQUITY Equity Opening Bal Equity 137,478.45 137,478.45 0.00 Unrestrict (retained earnings) 990.29 137.69 852.60 Net Income 13,066.04 852.60 12,213.44 Total Equity 151,534.78 TOTAL LIABILITIES & EQUITY 151,534.78 138,468.74 13,066.04 138,468.74 13,066.04 Page 1 December 4, 2018 - Page 307 0 2:03 PM Vail Mountain Rescue Group 06/17/18 Balance Sheet Prev Year Comparison Accrual Basis ASSETS Current Assets Checking/Savings 1st Bank Checking Rescue Reserve -1st Bank As of December 31, 2017 % Change 21.4% 0.1% Total Checking/Savings 10.0% Total Current Assets Fixed Assets Vehicle -ATVs Accum Depr-Veh-ATVs Vehicle -ATVs - Other Total Vehicle -ATVs Vehicle -Snowmobiles Accum Depr-Vehicle-Snowmobiles Vehicle -Snowmobiles - Other Total Vehicle -Snowmobiles Vehicle -Trailers Accum Depr-Vehicle-Trailers Vehicle -Trailers - Other Total Vehicle -Trailers Leasehold Improv -Climbing Wall Accum depr-Leashold Impr Leasehold Improv -Climbing Wall - Other 10.0% 0.0% 0.0% 0.0% -7.4% 7.4% 2.4% -2.4% 0.0% 0.0% 0.0% 0.0% Total Leasehold Improv -Climbing Wall 0.0% Total Fixed Assets 0.0% TOTAL ASSETS 9.4% LIABILITIES & EQUITY Equity Opening Bal Equity Unrestrict (retained earnings) Net Income 0.0% 619.2% 1,432.5% Total Equity 9.4% TOTAL LIABILITIES & EQUITY 9.4% Page 2 December 4, 2018 - Page 308 0 2:05 PM 06/17/18 Accrual Basis Vail Mountain Rescue Group Profit & Loss Prev Year Comparison January through December 2017 Jan - Dec 17 Jan - Dec 16 Ordinary Income/Expense Income Contributed support Donations Donations -Restricted 28,000.00 1,600.00 Donations - Other 90,639.96 71,654.07 Total Donations 118,639.96 73,254.07 Fundraising Fundraising -Restricted 0.00 800.00 Fundraising - Other 0.00 5,698.00 Total Fundraising 0.00 6,498.00 Grants Grants -Restricted 19,863.00 22,918.00 Grants - Other 14,250.00 8,700.00 Total Grants Total Contributed support Earned revenues Interest-savings/short-term inv Stores Sales 34,113.00 31,618.00 152,752.96 111,370.07 78.02 65.97 2,690.00 90.00 Total Earned revenues 2,768.02 155.97 Total Income 155,520.98 111,526.04 Gross Profit 155,520.98 111,526.04 Expense Depreciation Exp 0.00 12,647.32 Donations 0.00 25,500.00 Business expenses Administration Exp Bank Service Charge -303.24 115.34 Building Repair & Maint 1,401.37 1,907.39 Dues 269.00 20.00 Insurance 6,323.28 6,147.66 MRA -Dues 0.00 690.00 Office Supplies Postage/PO Box Exp 209.00 98.00 Office Supplies - Other 227.95 897.02 Total Office Supplies 436.95 995.02 PSAR-Public Education 729.63 277.41 Store Exp 1,018.04 6,620.60 Total Administration Exp Operation Exp CSRB 75.00 75.00 Equipment 16,021.13 21,897.52 Mission Exp 170.03 1,351.95 MRA Exp MRA -Honor Guard 931.32 1,330.00 MRA -Travel 2,577.55 2,574.80 9,875.03 16,773.42 Total MRA Exp Training Exp New Member Training 12.58 142.04 Training -External 13,921.85 3,487.22 Training -Internal 1,651.40 671.38 Accredidation Exp 0.00 4,452.15 3,508.87 3,904.80 Total Training Exp 15,585.83 8,752.79 Logistic Exp Communication Exp 68,941.10 739.92 Page 1 December 4, 2018 - Page 309 0 2:05 PM 06/17/18 Accrual Basis Vail Mountain Rescue Group Profit & Loss Prev Year Comparison January through December 2017 Vehicle Exp Vehicles -Truck & Trailer Exp Vehicles -Title & Registration Vehicles -Snowmobile Exp Vehicles -Fuel Exp Vehicles -ATV Exp Total Vehicle Exp Total Logistic Exp Total Operation Exp Total Business expenses Grant & contract expense Fund Raising Exp Total Grant & contract expense Total Expense Net Ordinary Income Other Income/Expense Other Income Sale of Equipment Total Other Income Jan - Dec 17 Jan - Dec 16 2, 703.35 185.85 25,644.70 658.01 2,086.04 1,999.34 135.55 1,505.61 589.37 20,561.50 31,277.95 24,791.37 100,219.05 25,531.29 135,579.91 61,513.35 145,454.94 78,286.77 0.00 489.35 0.00 489.35 145,454.94 116,923.44 10,066.04 -5,397.40 3,000.00 6,250.00 3,000.00 6,250.00 Net Other Income 3,000.00 6,250.00 Net Income 13,066.04 852.60 Page 2 December 4, 2018 - Page 310 0 2:05 PM 06/17/18 Accrual Basis Vail Mountain Rescue Group Profit & Loss Prev Year Comparison January through December 2017 $ Change % Change Ordinary Income/Expense Income Contributed support Donations Donations -Restricted 26,400.00 1,650.0% Donations - Other 18,985.89 26.5% Total Donations 45,385.89 62.0% Fundraising Fundraising -Restricted -800.00 -100.0% Fundraising - Other -5,698.00 -100.0% Total Fundraising -6,498.00 -100.0% Grants Grants -Restricted -3,055.00 -13.3% Grants - Other 5,550.00 63.8% Total Grants Total Contributed support Earned revenues Interest-savings/short-term inv Stores Sales 2,495.00 7.9% 41,382.89 37.2% 12.05 18.3% 2,600.00 2,888.9% Total Earned revenues 2,612.05 1,674.7% Total Income 43,994.94 39.5% Gross Profit 43,994.94 39.5% Expense Depreciation Exp -12,647.32 -100.0% Donations -25,500.00 -100.0% Business expenses Administration Exp Bank Service Charge -418.58 -362.9% Building Repair & Maint -506.02 -26.5% Dues 249.00 1,245.0% Insurance 175.62 2.9% MRA -Dues -690.00 -100.0% Office Supplies Postage/PO Box Exp 111.00 113.3% Office Supplies - Other -669.07 -74.6% Total Office Supplies -558.07 -56.1% PSAR-Public Education 452.22 163.0% Store Exp -5,602.56 -84.6% Total Administration Exp -6,898.39 -41.1% Operation Exp CSRB 0.00 0.0% Equipment -5,876.39 -26.8% Mission Exp -1,181.92 -87.4% MRA Exp MRA -Honor Guard -398.68 -30.0% MRA -Travel 2.75 0.1% Total MRA Exp -395.93 -10.1% Training Exp New Member Training -129.46 -91.1% Training -External 10,434.63 299.2% Training -Internal 980.02 146.0% Accredidation Exp -4,452.15 -100.0% Total Training Exp 6,833.04 78.1% Logistic Exp Communication Exp 68,201.18 9,217.4% Page 3 December 4, 2018 - Page 311 0 2:05 PM 06/17/18 Accrual Basis Vail Mountain Rescue Group Profit & Loss Prev Year Comparison January through December 2017 Vehicle Exp Vehicles -Truck & Trailer Exp Vehicles -Title & Registration Vehicles -Snowmobile Exp Vehicles -Fuel Exp Vehicles -ATV Exp Total Vehicle Exp $ Change % Change 704.01 50.30 24,139.09 68.64 -18,475.46 35.2% 37.1% 1,603.3% 11.7% -89.9% 6,486.58 26.2% Total Logistic Exp 74,687.76 292.5% Total Operation Exp 74,066.56 120.4% Total Business expenses Grant & contract expense Fund Raising Exp Total Grant & contract expense Total Expense Net Ordinary Income Other Income/Expense Other Income Sale of Equipment Total Other Income 67,168.17 85.8% -489.35 -100.0% -489.35 -100.0% 28,531.50 24.4% 15,463.44 286.5% -3,250.00 -52.0% -3,250.00 -52.0% Net Other Income -3,250.00 -52.0% Net Income 12,213.44 1,432.5% Page 4 December 4, 2018 - Page 312 0 8/24/2018 Friends of Mountain Rescue (FMR) in support of Vail Mountain Rescue Group (VMRG) Lukes Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Friends of Mountain Rescue (FMR) in support of Vail Mountain Rescue Group (VMRG) First Name of Contact Person : Edward Last Name of Contact Person : Lukes E-mail Address : ed@vailmountainrescue.org Mailing Address : PO Box 1094 City : Edwards State : US -00 December 4, 2018 - Pa0 313 c 8/24/2018 Zip : 81632 Telephone Number : 9704709075 Members and Titles of your Governing Board : Vail Mountain Rescue Group Team Members: Tom Howard President of Board Dan Smith Vice President, Secretary of Board, Sean McGinley Treasurer Rev. Scott K. Beebe Membership Director for VMRG Independent Directors: Dr Reg Franciose MD Surgeon at Vail Valley Medical Center. Jim Frein Investment Management Director Edward Lukes Fund Raising Director Organization Mission Statement : Friends of Mountain Rescue was established to raise and manage money to ensure that VMRG has the resources to maintain a highly trained and equipped search and rescue function. Vail Mountain Rescue Group exists to save lives by providing backcountry search and rescue, as well as public education on backcountry safety. The group is responsible for all search and rescue operations in the unincorporated areas of Eagle County Organization fiscal year-end: : 2018-06-12 Are your books audited? : No What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $23,500 Who currently funds your organization? : Funding comes from donations and in-kind assistance. Donations come from many organizations including businesses and governments in addition to many individuals and foundations. A detailed list is available if requested. Significant In -Kind donations come from Eagle County Sheriff Department, Ambulance District and High Altitude Aviation Training Center in Gypsum (HAATS). There is no charge to those who are rescued. All costs are covered by the fundraising efforts of FMR and VMRG. It is universally believed that such charges would in some cases discourage a victim from calling for help until it is too late. This is consistent with the policies of the National Search and Rescue Association (NASAR), of which VMRG is a member. Many persons rescued do make donations to support VMRG moving forward. Insignificant funding comes from State fishing and hunting licenses or CORSAR card purchases. Those revenues are allocated to county sheriffs for extraordinary search and rescue costs, not for regular operating expenses. How will the contribution be used? : Funding will be used to fund two courses in 2019. If awarded funding for training, VMRG will be able to make plans and commit to training companies for 2019. This request is for two training events: - Technical Ropework costing $16,000 - Waterfall Ice Climbing and Rescue costing $7,500 Technical Ropework training will apply to 18 VMRG team members. This training involves the following: Rigging for Rescue teaches a technical ropework seminar that is known for its focus on apply-ing the critical thinking and systems analysis skills required to competently incorporate rope -work and rigging into effective rescue systems. Emphasis is on encouraging participants to become knowledgeable in the concepts and principles of rigging techniques rather than learn-ing merely by rote. Strong emphasis is placed on team leader development through exercis-es/scenarios designed to broaden scene size -up and team briefing skills relative to rope rescue as well as practical hands-on field sessions. Waterfall Ice Climbing and Rescue training will be provided to 4 VMRG team members. It involves: This is specialized training focusing on techniques and subtleties of ice climbing and waterfall ice rescue practices. Content includes ice climbing technique refinement, pick -offs, companion rescue, terrain evaluation, team movement on ice and much more. Training will take place in Ouray, Colorado, which is one of the world's premier ice climbing destinations. Ouray is home to the Ouray Ice Park and is an ideal location for this workshop. December 4, 2018 - Pa0 314 0 8/24/2018 How does your request support item 1C of the Contribution Policy (See above) : VMRG's search and rescue capability meets the Town of Vail's mission of providing citizens and guests with exceptional services and an abundance of recreational opportunities. VMRG has needed its skills in Ropework on many occasions near Vail. This has included assisting the Fire Department with auto/truck accident victims where vehicles have fallen over the edge of 1-70 by as much as 100 feet. VMRG has also performed rescue missions at the Vail ice climbing location. Please Upload Organization Balance Sheet : VMRG Bal Sheet Dec 31.2017.pdf Please Upload Organization Income Statement : VMRG Income Statement.Dec.31.2017.pdf Linked Form : ed@vailmountainrescue.org Submission Date : 2018-06-24 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6190905 Last change : 2018-06-24T23:33:51+0000 December 4, 2018 - Pa0 315 0 8/24/2018 RED SANDSTONE ELEMENTARY Kyle Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : RED SANDSTONE ELEMENTARY First Name of Contact Person : Angie Last Name of Contact Person : Kyle E-mail Address : angela.kyle@eagleschools.net Mailing Address : 551 NORTH FRONTAGE RD City : VAIL State : US -CO Zip : 81657 December 4, 2018 - Pa66 316 0 8/24/2018 Telephone Number : 9703282910 Members and Titles of your Governing Board : Marcie Laidman, RSES Principal Dr. Carlos Ramirez, Superintendent Organization Mission Statement : Red Sandstone Elementary School is a collaborative learning community inspiring excellence for all. The Red Sandstone PTO works to support the mission and community of Red Sandstone Elementary School. We are committed to all students: Respecting themselves, their community, and their world. Succeeding in academic achievement and citizenship. Excelling to new levels each day. Solving problems for themselves, their community, and their world. The Red Sandstone Elementary School PTO provides assistance to teachers in classroom settings, raises funds for supplemental educational materials and experiences, supports school and family social interaction, and provides a non -biased forum for sharing information on issues that impact our children. Organization fiscal year-end: : 2019-06-30 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $20,000 Who currently funds your organization? : Eagle County Schools General Fund & RSES PTO Organization How will the contribution be used? : Red Sandstone Elementary School (RSES) is requesting $20,000 from the Town of Vail to purchase additional kits, annual programing fees, and technology for our STEM Lab supported by the Project Lead the Way PLTW) at the school. A detailed budget is provided. PROJECT LEAD THE WAY: "Our programs inspire students to question what's possible and prepare them for long-term success. PLTW students engage in hands-on activities, projects, and problems that are reflective of real-world challenges. This compelling, real-world approach empowers students to learn essential, in -demand skills validated by the world's leading companies, while also providing an invaluable connection between what students are learning in the classroom today and how it applies to the paths they'll take in the future." Source: https://www.pltw.org/our-programs PLTW "Launch" Program (K-5): "Your K-5 students already have the qualities of great designers and innovators. What PLTW Launch does is tap into their exploratory nature, engage them in learning that feels like play, and encourage them to keep discovering — now and for years to come. PLTW Launch's 24 interdisciplinary modules bring learning to life. The program empowers students to adopt a design -thinking mindset through compelling activities, projects, and problems that build upon each other and relate to the world around them. And as students engage in hands-on activities in computer science, engineering, and biomedical science, they become creative, collaborative problem solvers ready to take on any challenge. Each PLTW Launch module engages students in cross -disciplinary activities that spark a lifelong love of learning and build knowledge and skills in areas including computer science, engineering, and biomedical science. In addition, each module empowers students to develop essential skills such as problem solving, critical and creative thinking, communication, collaboration, and perseverance." Source: https://www.pltw.org/our-programs/pltw-launch The STEM Lab impacts 200 children ages 5 to 11 by integrating technology and engineering into their everyday learning process and creating a media rich school (in line with the ECSD strategic plan). The vision of the Eagle County School District is to create "Global Ready Graduates". Supporting our STEM Lab with the necessities of programs and equipment at Red Sandstone Elementary school aligns with this vision and will address the goals laid out in the technology pathway of the ECSD Strategic plan. In addition, this project aligns with set of global ready skills (inspired by the work of Tony Wagner) our school district has introduced to accomplish the vision. Last year the TOV graciously provided Red Sandstone elementary school with a grant to purchase different types of equipment and materials for our STEM lab. The grant enabled Red December 4, 2018 - Pa§6 317 0 8/24/2018 Sandstone to start down the path of adopting Project Lead the Way. Using the funding from the grant, we were able to purchase two of the four modules for each grade level. Red Sandstone's PTO supported this project as well by purchasing 20 full size (pads to use with the kits that require a technology component. 1. 5th graders who designed robot cars and raced them using ipads. 2. After reading How to Catch an Elf, our second graders, created a trap to catch the troublesome elf that has been hanging out in our classrooms. They first made a design and listed materials they would need to build the trap. Using the design as a guide they built their traps. 3. Second graders became scientists and conducted an experiment to see if a pumpkin would sink or float. After exploring with a variety of objects, we concluded that those that contained air or were less dense than water would float. 4. Third graders worked collaboratively to create an interwoven suspension bridge out of 18 wooden sticks. This project also offers a unique opportunity for partnership. Through a recent school fundraiser our PTO raised funds to assist in the purchase of 20 iPads needed to support STEM Lab. Both the Walking Mountains Science Center `Girls in Science Program' and Vail Rec Schools out and Camp Vail have been able to utilize this space. Should our request be approved by the Town of Vail we would be able to complete purchasing the kits for the Project Lead the Way Program (PLTW), Teacher training for PLTW and purchase additional technology for the space, once the funding is in place. This project is proving to be an opportunity to distinguish and differentiate RSES and Vail from other elementary schools and is helping to promote a vibrant local community. How does your request support item 1C of the Contribution Policy (See above) : A high achieving school is always an attractive selling point for a community. Red Sandstone Elementary is proud to report our academic achievement, especially in the areas of math and science, are outpacing the district and state averages. Red Sandstone's science 2017 PARCC (a nationally normed test) scores soared to a 62% for students meeting or exceeding the benchmark. The average science score for meeting or exceeding at the state level was 35% and the average for Eagle County was 37%. In math there is a similar trend; Red Sandstone averaged 50% in the meet or exceed category whereas the state averaged a 36% and Eagle County schools averaged 27%. These scores in the area of math and science directly relate to the work we have been achieving in the STEM lab. With the Town of Vail's continued support of our STEM lab, Red Sandstone is more likely to attract and retain new families who are moving into the new Solar Vail and Chamonix housing developments, as well as families from down valley. This request supports the town mission as Red Sandstone Elementary is Vail's community school and it is the glue that holds many families in Vail. Supporting Red Sandstone Elementary is supporting the Vail community. Red Sandstone is a community treasure and we appreciate your consideration for funding. Red Sandstone Elementary School offers a major benefit and is critical to the future health of our community. A vibrant, well achieving school is the lifeblood of a thriving community and will insure that families will continue to prosper in Vail. Strengthening and enriching Red Sandstone Elementary School will provide the citizens of Vail with an exceptional service in the form of a top community school. This request is also in line with the community goals outlined in the 2015-2017 Vail Town Council Action Plan, specifically, the community goal to support "educational enrichments with Red Sandstone Elementary School". Please Upload Organization Balance Sheet : Eagle County Schools 2017 CAFR- FINAL.pdf Please Upload Organization Income Statement : Eagle County Schools 2017 CAFR- FINAL.pdf Linked Form : angela.kyle@eagleschools.net Submission Date : 2018-06-11 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6189186 Last change : 2018-06-14T18:14:13+0000 December 4, 2018 - Pa§6 318 0 8/24/2018 December 4, 2018 - Pad6 319 0 46. Eagle County School District RESOJ COMPREHENSIVE ANNUAL FINANCIAL REPORT • VII "IF -17 1' For the Fiscal Year ENDED JUNE 30, 2017 948 Chambers Avenue, POB 740 Eagle, CO 81631 [ (970) 328-6327 www,eagleschoals.net face book.camleagle.schoals 0 @'eagleCOschoals `r O EAGLE COUNTY SCHOOLS December 4, 2018 - Page 320 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOL DISTRICT RE50J COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Fiscal Year Ended June 30, 2017 County of Eagle State of Colorado Jason Glass, Ed. D. Superintendent Prepared by: Business Services Sandra Mutchler, CPA Chief Operating Officer December 4, 2018 - Page 321 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS COMPREHENSIVE ANNUAL FINANCIAL REPORT For the fiscal year ended June 30, 2017 TABLE OF CONTENTS INTRODUCTORY SECTION Letter of Transmittal 1 Principal Officials 9 Organization Chart 10 GFOA Certificate of Excellence in Financial Reporting 11 ASBO Certificate of Excellence in Financial Reporting 12 FINANCIAL SECTION Independent Auditors' Report 14 Management's Discussion and Analysis 16 Basic Financial Statements Statement of Net Position 35 Statement of Activities 36 Balance Sheet — Governmental Funds 38 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position39 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 40 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 41 Statement of Net Position — Proprietary Fund 42 Statement of Revenues, Expenses and Changes in Net Position — Proprietary Fund 43 Statement of Cash Flows — Proprietary Fund 44 Statement of Fiduciary Assets and Liabilities — Agency Fund 45 Notes to Financial Statements 46 Required Supplementary Information Schedule of Proportionate Share of the Net Pension Liability and Contributions 70 Budgetary Comparison Schedule — General Fund 71 Notes to Required Supplementary Information 72 December 4, 2018 - Page 322 0 EAGLE COUNTY SCHOOLS Combining and Individual Fund Financial Statements and Schedules Combining Balance Sheet — Nonmajor Governmental Funds 75 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds 76 Budgetary Comparison Schedule — Nutrition Services Fund 77 Budgetary Comparison Schedule — Government Designated -Purpose Grants Fund 78 Budgetary Comparison Schedule — Transportation Fund 79 Budgetary Comparison Schedule — Bond Redemption Fund 80 Budgetary Comparison Schedule — Building Fund 81 Budgetary Comparison Schedule — Capital Reserve Fund 82 Budgetary Comparison Schedule — District Housing Fund 83 Statement of Changes in Assets and Liabilities — Agency Fund 84 STATISTICAL SECTION Financial Trends Net Position by Component 88 Changes in Net Position 90 Fund Balances, Governmental Funds 94 Changes in Fund Balances, Governmental Funds 96 Revenue Capacity Assessed Value and Actual Value of Taxable Property 98 Direct and Overlapping Property Tax Rates 100 Principal Property Tax Payers 102 Property Tax Levies and Collections 103 Debt Capacity Legal Debt Margin Information 104 Ratio of Outstanding Debt by Type 106 Ratio of General Bonded Debt Outstanding 107 Direct and Overlapping Governmental Activities Debt 108 Demographic and Economic Information Demographic and Economic Statistics 109 Principal Employers 110 Operating Information Operating Statistics 111 District Employees — Full Time Equivalents 112 Student Enrollment — Full Time Equivalents 113 Schedule of Insurance 114 Facility Statistics 115 December 4, 2018 - Page 323 0 EAGLE COUNTY SCHOOLS COMPLIANCE SECTION Single Audit Independent Auditors' Report on Internal Control over Financial Reporting and On Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 119 Independent Auditors' Report on Compliance for Each Major Federal Program, Internal Control Over Compliance, and the Schedule of Expenditures of Federal Awards Required by the Uniform Guidance 121 Schedule of Findings and Questioned Costs 123 Schedule of Expenditures of Federal Awards 124 Notes to Schedule of Expenditures of Federal Awards 125 State Compliance Auditors Integrity Report 127 December 4, 2018 - Page 324 0 December 4, 2018 - Page 325 0 EAGLE COUNTY SCHOOLS Sandra Mutchler, C.P.A. Chief Operating Officer sandra.mutchler@eagleschools.net February 9, 2018 Members of the Eagle County Schools Community Members of the Board of Education Dr. Jason Glass, Superintendent of Schools Eagle County School District RE50J Eagle Colorado It is our pleasure to submit the Comprehensive Annual Financial Report of the Eagle County Schools for the fiscal year ended June 30, 2017. State law requires that all local governments publish within six months of the close of each fiscal year a complete set of financial statements presented in conformity with generally accepted accounting principles and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants. This report is being formally submitted to the board of education in fulfillment of those requirements. Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal controls that it has established for this purpose. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute assurance that the financial statements are free of any material misstatements. The 2017 Comprehensive Annual Financial Report (CAFR) presentation is in compliance with the governmental financial reporting model established by the Governmental Accounting Standards Board (GASB) Statement No. 34 titled Basic Financia/ Statements — and Management's Discussion and Analysis — for State and Local Governments. Accounting and financial reporting for state and local governments previously focused on funds to demonstrate fiscal accountability. The GASB Statement No. 34 reporting model parallels private sector reporting by consolidating fund -based presentations into government -wide financial statements designed to ensure and demonstrate fiscal and operational accountability. Swanhorst & Company LLC, Certified Public Accountants, have issued an unmodified ("clean') opinion on the Eagle County Schools' financial statements for the year ended June 30, 2017. The independent auditors' report is located at the front of the financial section of this report. Management's discussion and analysis (MD&A) immediately follows the independent auditors' report and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A complements this letter of transmittal and should be read in conjunction with it. Introductory Letter of Transmittal 1 December 4, 2018 - Page 326 0 Introductory Letter of Transmittal 2 EAGLE COUNTY SCHOOLS Profile of the District Eagle County Schools ("the district") is a public school district, organized and existing under the School District Organization Act of 1965, Article 30, Title 22, and Colorado Revised Statutes. The district was formed in 1958 when 16 independent districts were consolidated into a countywide district encompassing the 1,694 square miles of Eagle County, Colorado. The district is located in western Colorado and in the central Rocky Mountains. Eagle County Schools is empowered to levy a property tax of both real and personal properties located within its boundaries. A seven member board of education elected by the citizens of Eagle County governs the district. Policy- making and legislative authority are vested in the Board of Education. The Board is responsible, among other things, for adopting policies, appointing committees, adopting the budget, and hiring the Superintendent. The Superintendent is responsible for carrying on the policies and regulations of the Board, for overseeing the day-to-day operations of the district and for hiring principals and administrators. The Board is elected on a non-partisan basis at large. Board members serve four year staggered terms, with four or three board members elected every two years. Board members are term -limited at two terms. Serving Pre -K through 12th grade students from Vail to Dotsero, including Bond and McCoy, Eagle County Schools is an innovative district comprised of 1,000 professionals engaging 6,901 students. Our student population is diverse in both demographics and economic background. With 28% of students being English Language Learners compared with the state average of 14.2% we are also uniquely positioned to evolve into a dual language district with bilingual graduates supporting our vision of international competitiveness. While geographically positioned near affluent communities like Vail and Beaver Creek, 41% of our students qualify for free and reduced lunch. Our schools and students are supported by active PTA's, local non-profit foundations, youth services -focused organizations, and a variety of private -public partnerships and individual philanthropists. Our vision is to prepare all of our students to be internationally competitive graduates, who will be successful in their careers or college experience and contribute to their communities in positive and effective ways. The district benchmarks international top performing schools to model practices that lead to success for all students. We believe that the only way to improve learning outcomes for students is through better instruction. Consequently, we focus our efforts on an instructional core of educators, learners, and standards. All actions, initiatives, and efforts are viewed through this lens with the expectation that they must shape on of these tenets to be effective. The district provides a full and challenging range of educational programs and services authorized by Colorado State Statute including basic kindergarten through grade twelve education in elementary, middle and high schools, special education for exceptional students, gifted and talented, career and technical education, English Language Learner programs, Dual -Language, International Baccalaureate, Expeditionary Learning and numerous other educational and support programs. In addition, the district offers preschool programs through its Early Childhood Education program. One charter school, Eagle County Charter Academy, is included as a discretely presented component unit of Eagle County Schools for the 2016-17 CAFR. December 4, 2018 - Page 327 0 EAGLE COUNTY SCHOOLS Budget Process The Board of Education is required by state law to adopt an initial budget no later than June 30 of the preceding the next fiscal year. The annual budget serves as the foundation of the district's financial planning and control. The budget is prepared by the fund, program/department and object. State law allows the Board of Education to adjust the initial budget based upon updated revenues and expenditures through January 31 of the current fiscal year. Changes to the budget following adoption by the Board of Education are authorized under Policy DBJ, which allows the transfer of funds between accounts with the approval of the Superintendent or designee. Economic Conditions and Outlook Economic Outlook for 2017-18 On December 7, 2017 the economic outlook for calendar year 2018 was presented at the 53rd Annual Colorado Business Economic Outlook by the Business Research Division of the Colorado Leeds School of Business. Following three consecutive years of employment growth in excess of 3%, the pace of growth slowed to 2.3% in 2016. The State continued the job -building momentum in 2017, adding an estimated 56,300 jobs, or 2.2%. In 2018, Colorado's pace of employment growth is projected to slow further, to 1.8%, as Colorado increases employment by 47,100. The Denver -Boulder -Greeley Consumer Price Index (CPI) is the measure of inflation that is generally used for the State of Colorado. The 2017 rate increase, used as a function of funding increases for the 2017-18 was 2.8% and is currently being projected for 2018-19 at 3.0%. School districts face a significant challenge as an improvement in fiscal resources for K-12 education typically lags in an economic recovery. Although State revenues are growing, specific elements of Colorado law restrict the amount of revenue the State can retain and thus will limit the resources available to K-12 education as well as other state departments and services. A unique provision of the Colorado Constitution, referred to as the Taxpayer Bill of Rights (TABOR), specifies a limit on the amount of revenue that can be collected and retained by Colorado governments. The cap on revenue collections is allowed to grow each year by no more than the sum of the rates of Colorado's population growth and inflation. Other state-wide news includes the recently announced Colorado PERA proposed comprehensive package of reforms designed to reduce the overall risk profile of the plan and improve PERA's funded status. In September, the Colorado PERA Board of Trustees approved the recommended changes designed to shorten the length of time it will take the plan to reach full funding. Changes include, benefit reductions for current and future members and retirees, as well as contribution increases for members and employers. The Colorado Legislature must pass the proposed changes. By State law, the Colorado General Assembly sets contribution rates and benefit levels and the PERA Board of Trustees has oversight of investments and benefit administration. For more information visit. www.copera.org. The following observations are from page 125 of the 2018 Colorado Business Economic Outlook and can be found at: http://www.colorado.edu/business Introductory Letter of Transmittal 3 December 4, 2018 - Page 328 0 Introductory Letter of Transmittal 4 EAGLE COUNTY SCHOOLS National and International • U.S. output will continue to benefit from increased investment, complementing strong personal consumption. • U.S. exports will gain from a stronger global economy and a more competitive value of the dollar. • U.S. GDP growth will likely remain in the 2%-3% range in 2018. • Inflation will inch closer to the Fed target rate, and the Fed will address policy with at least two rate • increases in 2018. Colorado • Despite slower growth, Colorado will still be in the top 10 states in 2018. • Employment growth is projected in each of the 11 industries in both 2017 and 2018. • Commodity prices will help stabilize the commodity -sensitive industries. • Population growth will slow modestly from 2017 to 2018; the state will still add an estimated 90,600 • people, two-thirds of which will come from netmigration according to the State Demography Office. • Colorado's aging population and low unemployment rate will constrain job growth in 2018. Colorado will remain a naturally competitive market in 2018, creating, retaining, and recruiting a highly talented • workforce with assets ranging from a desirable quality of life to a diverse and robust economy. http://www.eaglecounty.us/Finance/Documents/2016_CAFR/ Local The economy in Eagle County continues to be dominated by the ski industry, real estate, and other tourism -related businesses. Vail and Beaver Creek ski areas, operated by Vail Resorts, are two of the most popular winter destination ski resorts in the U.S. The 2015-16 ski season saw a 13.9% increase in Vail and Beaver Creek skier days. Skier days in 2016 were higher in December and January over the prior year due to great snow conditions and summer visits began to approach pre -recession numbers. County sales tax receipts correspondingly increased by more than 4.2% in 2016. The County is home to premier golf courses designed by Arnold Palmer, Greg Norman, Robert Trent Jones, Jr. and Tom Fazio, among others. Golf rounds played on the County's 14 golf courses decreased 1.8%. This was partially due to the Vail Golf Course being under construction throughout the summer. Unemployment rates have decreased significantly and are continuing to improve. After reaching a peak average of 9.6% in 2010, annual average rates declined to 3.1% in 2015 and 2.8% in 2016. The Eagle County Regional Airport reported a total of 164,671 enplanements in 2016, a 3.8% increase from 2015. This increase was primarily attributable to an increase in tourist activities, particularly skier traffic. Airlines providing air service are: American, Delta, United, and Air Canada. The airlines provide seasonal non-stop flights from the following major U.S. cities: Atlanta, Chicago, Dallas, Denver, Houston, Los Angeles, Miami, Minneapolis, Newark, New York, and Toronto. December 4, 2018 - Page 329 0 EAGLE COUNTY SCHOOLS In addition to world-class skiing and snowboarding at Vail and Beaver Creek, tourists' visiting the County's scenic, historical and summer recreational areas make a significant contribution to the County's economy. Summer recreational activities in the County include rafting, kayaking, paddle boarding, horseback riding, camping, ghost town exploration, backpacking, mountain climbing, mountain biking, and tennis. In addition, fishing and big game hunting for deer and elk are also large contributors to our economy. The Flat Tops area outside of Dotsero is home to North America's largest elk herd. Along with Vail Resorts, some of the larger organizations that employ Eagle County residents include the Vail Valley Medical Center, Eagle County School District, Vail Cascade Resort, Eagle County Government, Ritz Carlton — Bachelor Gulch, East West Resorts, and Park Hyatt Beaver Creek Resort & Spa. 2016 Eagle County real estate ended the year with $1,957,961,603 in total dollar volume representing 2,048 transactions. Average sales price county wide was $970,184, the median sales price, county wide was $516,500. Average and median sales prices for single family homes and multi -family homes both dropped slightly by 1% between 2015 and 2016. Workforce and affordable housing continues to be a consideration for new and existing businesses wishing to expand in Eagle County. In 2016, there were 15 re -sales in the county's deed -restricted inventory. This represents $5,091,341 in sales with an average sales price of $339,423. Led by the Eagle County Housing and Development Authority (ECHDA), several additional County - sponsored affordable housing initiatives continually strive to address the critical need for affordable housing. These programs incorporate several local, state and federal funding sources to provide programs including HUD -subsidized Section 8 housing (Eagle Riverview Affordable Housing Corporation), down payment assistance (DPA) program, affordable senior housing (Golden Eagle Elderly Housing Corporation and Seniors on Broadway) and Castle Peak Senior Life and Rehabilitation. Castle Peak Senior Life and Rehabilitation was developed jointly by Eagle County Housing and Development Authority and Augustana Care LLC, the owner and operator of the facility. Castle Peak opened in October 2016 bringing 64 units of skilled nursing and assisted living to Eagle County. Castle Peaks first residence moved in within days of the facilities grand opening. In 2016, Eagle County approved 24 DPA loans for $213,800, with an average loan amount of $8,900. In 1996, Eagle County voters approved an additional 1/2 percent sales tax for the creation of Eagle County Regional Transportation Authority (ECO Transit/Trails) to provide a transportation system throughout Eagle County. The system consists primarily of bus transport; however, its mission also includes providing trails and other enhancements to transportation in Eagle County. Since its inception, ECO Transit increased its bus ridership from 400,000 to 945,199 riders in 2009. However, as a result of a down economy, ridership dropped to a low of 726,390 passenger trips in 2011. ECO Transit transported just under 1,000,000 passengers in 2017. ECO Transit's safety record remains impeccable, while logging millions of miles per year, often on icy mountain roads. Introductory Letter of Transmittal 5 December 4, 2018 - Page 330 0 Introductory Letter of Transmittal 6 EAGLE COUNTY SCHOOLS Long-term Financial Planning Each year the State budget is crafted by the governor and legislature to determine how much of the total budget will be allocated to K-12 education. The State economic picture is important to the district because a major source of funding for the district's General Operating Fund is received through the State's School Finance Act established by the State legislature. During the Great Recession, State revenue shortfalls forced cuts to K-12 education even though expectations for constitutionally mandated funding increases existed under Amendment 23. After the State sets the total funding for K-12 public education, each local district determines how to fund its specific system and allocate resources to every school within its district. For the 2017-18 fiscal year, the legislature increased base per pupil funding by 2.8 percent for K-12 public education as well as provided additional dollars for statewide student growth and a minimal reduction to the Budget Stabilization Factor. Including student decline, this equates to a $164,405 year -over -year decrease to Eagle County Schools from the 2016-17 School Finance Act funding. The "Budget Stabilization Factor" reduction to statewide total program funding as calculated in the School Finance Act is now $828M, or 11.1 percent. For Eagle County Schools, the budget stabilization factor is $6.8M for the 2017-18 fiscal year and $56.5M cumulative since 2010-11. While many expect this funding reduction should reflect a "new normal" for K-12 public education, many community leaders and advocacy groups are pushing to restore funding to prerecession levels and provide resources necessary to address student achievement. Policy DB requires Eagle County Schools to maintain a fiscal year-end fund balance as an operating reserve in the General Fund as a beneficial and sound financial management practice. The Board of Education assigns to the Superintendent or designee the responsibility of accumulating and maintaining a fund balance in the General amounting to 10% of the district's current fiscal year adopted budget or $10,000,000, whichever is greater at fiscal year-end, as an operating reserve. This amount will include the emergency reserve required by Article X, Section 20 of the Colorado Constitution (Taxpayer's Bill of Rights). The 10% year-end operating reserve will be used only for an unexpected loss of revenue or an extraordinary expenditure. Expenditures from the operating reserve shall be reported to the board. The policy restricts the district from using one-time money for ongoing expenditures. This ensures programs are sustained with ongoing revenue. In addition, current policy specifies the amount to be held as a contingency reserve. Following the requirements of this policy means the district will have to make annual budget adjustments so that new expenditures do not exceed new revenues and a moderate level of reserves is maintained. Because the district has in the past funded necessary programs with fixed revenue provided by override funds, the cost of these programs will eventually exceed the fixed revenue stream. Using the policy now means the district can make smaller adjustments over time rather than making dramatic cuts when the cost of programs has outgrown revenue sources. At June 30, 2017, the district is in compliance with these fund balance requirements. Historical information on district enrollment can be found in Table 17 of the Statistical Section of this document. Information on all district facilities and property can be found in Table 19 of the Statistical Section of this document. December 4, 2018 - Page 331 0 EAGLE COUNTY SCHOOLS Major Initiatives Eagle County Schools is a remarkable school district with a history of innovation, courage, and success. We have been a leader in efforts to revolutionize educator support systems, teacher leadership opportunities, individual accountability, and compensation packages. We have amazing and award- winning schools which have been recognized by the State of Colorado, the U.S. Department of Education, the Bill and Melinda Gates Foundation, and U.S. News & World Report. Unparalleled Altitude, a working plan, was authored by Dr. Jason Glass, Superintendent in October of 2013. This was the beginning of the district focusing on clarity, coherence and compassion followed by the Board of Education adopting an updated vision, mission, values, strategies and tactics September 2014. We believe in the power of this community and in the talent and passion of the individuals who are part of Eagle County Schools. Mission: We teach the children of Eagle County to have creative and active minds, compassion for others, enthusiasm for lifelong learning, and the courage to act on their dreams. Vision: Prepare all of our students to be global -ready graduates, who will be successful in their careers or college experience and contribute to their communities in positive and effective ways. Values: Aligned with our new strategic direction, our values describe what we want to communicate about ourselves. We strive to bring these values to life in all that we do. Engaged Learners Inspired Professionals A Sense of Adventure A Caring Community A Commitment to Equity Although the current state funding plan for K-12 education creates a challenging environment within which operations must continue the district is committed to the course our learning community is taking in 2016- 17 as we work toward the mission, vision and tactics at both the district and school levels. These strategies and values reflect the districts determination to stop nothing short of "world-class" quality. Bond and Mill Levy Program In November 2016, voters approved a ballot measure authorizing the district to issue $144 million in general obligation debt to fund the capital projects identified in the Facilities Master Plan. The bond enables significant facility upgrades to ensure our community schools meet the needs of our growing student population. The district votes also approved an $8 million mill levy override. The override will adjust annually along with the Denver -Boulder CPI (Consumer Price Index). The override is being used to attract and retain quality staff, restore staffing and programs, support instructional technology, expand early childhood education, provide instructional books/materials as well as, upgrade maintenance and transportation equipment and operations. To provide a high level of accountability and transparency in the implementation of the Mill Levy Program, the board of education has appointed a 3A Citizens' Committee that will offer independent review of the projects. The Committee is comprised of voluntary representatives of the Eagle County School District community. Introductory Letter of Transmittal 7 December 4, 2018 - Page 332 0 Introductory Letter of Transmittal 8 EAGLE COUNTY SCHOOLS Awards Eagle Valley High School ranks in the top 10% of the nation for career and college readiness, according to US News and World Reports. The district has had three Principals of the Year in Colorado, one Superintendent of the Year, and one English Language Learner Director of the Year. Our schools have been recognized as National Blue Ribbon Schools, John Irwin Schools of Excellence and with the Governor's Distinguished Improvement Award from the Colorado Department of Education. The Association of School Business Officials International (ASBO) awarded a Certificate of Excellence in Financial Reporting and the Government Finance Officers Association (GFOA) of the United States and Canada awarded a Certificate of Achievement for Excellence in Financial Reporting to the district for its comprehensive annual financial report for the fiscal year ended June 30, 2016. In order to be awarded a Certificate of Excellence and the Certificate of Achievement, the district must publish an easily readable and efficiently organized Comprehensive Annual Financial Report. This report satisfied both generally accepted accounting principles and applicable legal requirements. The Certificate of Excellence and the Certificate of Achievement are valid for a period of one year. We believe that our current Comprehensive Annual Financial Report continues to meet the program requirements for both Certificate of Excellence and Certificate Achievement of programs. This document will be submitted to GFOA and ASBO respectively to determine eligibility for another certificate. Acknowledgments The preparation of this report was made possible by the dedicated service of the entire staff of the Business Services Division. I would like to express my sincere appreciation to all members of the department for their contributions to this report. We also thank the district's independent auditors, Swanhorst & Company LLC, for the professional manner in which they accomplished the audit and for their work to publish this Comprehensive Annual Financial Report. I would also like to thank Dr. Jason Glass, Superintendent of Schools and the Board of Education for their interest in and support of the finance and accounting operations of Eagle County Schools. Respectfully Submitted, Sandy Mutchler, CPA Chief Operating Officer Chelsey Gerard Director of Finance 6wd eagleschools.net • 948 Chambers Ave • PO Box 740 • Eagle, CO 81631 December 4, 2018 - Page 333 0 EAGLE COUNTY SCHOOLS Board of Education Members Patrick Hirn, District F; Shelly Jarnot, Secretary/Treasurer, District G; Tessa Kirchner, Vice President, District A; Kate Cocchiarella, President, District B; Carolyn Knox Keep, District C; Felicia Battle, District D; Kevin Kottenstette, District E Superintendent's Leadership Team Dr. Jason Glass Superintendent Philip Qualman Asst. Superintendent of Student Services Heather Eberts Asst. Superintendent of Learning Services Traci Wodlinger Chief Strategy Officer Sandra Mutchler Chief Operating Officer Tammy Schiff Chief Communications Officer Todd Shahan Chief Technology Officer Chris Madison Director of Exceptional Student Services 9 December 4, 2018 - Page 334 0 Introductory Organization Chart 10 EAGLE COUNTY SCHOOLS Eagle Count Schools Or anization Chart 2016-17 2016-17 EAGi_r COUNTY SCH00:1'. Board or Edusadon SUPPORT SERVICES 3upennxndin[ ,arson a5' LEARNING SERVICES Asan Sups Srudemr Support Services Demi Elperatutg UlRoer 3arey' MJrcl'er Chial CornrnunI[atlons °Meer I nv:tni:-• Darenirr er Muman Re3-0urre3 Aoaic Devoid.-DIreetor of Edcepaoosi Sultle[I[ Sim*. irns rhydlsol' Director of Fadltles Aarol S iierres Chid Weeny 4Mor Trac WcaIr,e•• c hi1'TeelMedogy Orlkee Toed 3!ahcl • Dirermr Dr Eurrsculum lama Idorc Sr 6lresex of Finance Cselsay 2ers-d drecwr of rluolta[n bweloprnenr '1 Eoe Demme Ass :unti Board Secreury W s^v[.c^arr • • demes LeaderSelp Team Member Director of Early Childhood Education alrl e}'Sm. [r. duct it or Educator Quaky Aire Hee9.Tan Director or Trans porr000n uciarie McM rh e Dra toe W Special Educehon lurk Goldxrg C irc.:r of Glued Edisto [Jen :erri Pbec[cr et Muhlingsmi Edu[atioal It, ka M.,rcler IN SUPPORT OF OUR SCHOOLS ELEMENTARY SCHOOLS Au. gay Derma 243 SEnt., Erissh Creak Docke Coe 431 studerrs MIDDLE HIGH SCHOOLS OOLS Gyrs.surn Mlrc-. lorsbag !SG 31de16 Berry Creak J.S `c-ec n - Barra Moue Cala Roo Far.;: BiG.: dem Honwd[a Peek oaty iriminE. 31271), Usk Enmity Charm qm WSW- 229srdenrs.IK•31 pw nook Eno Cuoh t 311 studsds Eagle County Charm K n Walder 11 i ouderrs rEi bl Ease Wiley 141[.! roar EEG saudrlc E.ie Weary Greg Goan 671 sruderrs Rad Canyon Wive HI I F3 ...id.. Reel HW Err Calm 397 =Acres Sypiom Creek C.Yle 192s7i 1 3 r4 xGccle: Val Ski S Snowboard Gas GnmTcr 1EC mderes;3 1.I EdR�da Man: Are2 neLJr3 395 =den= Rod Sandstana Hartle 1-1,12.11.111 233 "Una= Horn stake Peak Hcb-3'2alfG. 2Gf st dclh World 'academy Wade Hill _331sdeers 3oltlent coons mile,. 311617 amlal headman as of !al. Aadrsdmu meanie rlo.aaan Elgr Sdml Faadniehods as Edge Ye/wrap Erred Ved Sid 6 inewbaari Wade H 11 &E 3[9991-5 ISBN December 4, 2018 - Page 335 0 EAGLE COUNTY SCHOOLS Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to Eagle County School District REMOJ C'olor'ado For its Comprehensive Annual Financial Report for the Fiscal Year Ended June 30. 2016 Executive Director/CEO Introductory GFOA Certificate of Excellence in Financial Reporting 11 December 4, 2018 - Page 336 c Introductory ASBO Certificate of Excellence in Financial Reporting 12 EAGLE COUNTY SCHOOLS ASSOCIATION OF SCHOOL BUSINESS OFFICIALS INTERNATIONAL The Certificate of Excellence in Financial Reporting is presented to Eagle County School District REOJ for its Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2016. The CAFR has been reviewed and met or exceeded .AS130 Internationals Certificate of Excellence standards. ■�k CERTIFICATE ■ EXCELLENCE ■ IN FINANCLAL REPORTING Anthony FL aragona: Er1D, RSBA Jahn U. Musso, Opt President Executive Director December 4, 2018 - Page 337 0 EAGLE COUNTY SCHOOLS FINANCIAL SECTION Management's Discussion and Analysis 13 December 4, 2018 - Page 338 0 Management's Discussion and Analysis 14 EAGLE COUNTY SCHOOLS 9&C Swanhorst & Company LLC rercrj F 1,IK An-num=m. Board of Education Eagle County Schools Eagle, Colorado INDEPENDENT AUDITORS' REPORT Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business -type activities, the discretely presented component unit. each major fund, and the aggregate remaining fund information ofthe Eagle County Schools as of and for the year ended June 30, 2017, and the related notes to the financial statements, which collectively comprise the basic financial statements of the Eagle County Schools, as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States o f America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment. including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business -type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the Eagle County Schools as ofiune 30, 2017, and the respective changes in financial position and cash flows, where applicable, for the year then ended in accordance with accounting principles generally accepted in the United States of America. 8400 E. Crescent Parkway - Suite 600 + Greenwood Village, CO 80111 • (720) 528-4306 Fax: (720) 528-4307 December 4, 2018 - Page 339 c EAGLE COUNTY SCHOOLS Other Matters (Required Supplementary Information) Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and the required supplementary information listed in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Matters (Other Information) Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Eagle County Schools' basic financial statements. The introductory section, combining and individual fund financial statements and schedules, statistical section, and auditors integrity report listed in the table of contents are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining and individual fund financial statements and schedules and the auditors integrity report are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling the information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated February 9, 2018, on our consideration o f the Eagle County Schools' internal contro l over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope o f our testing o f internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Eagle County Schools' internal control over financial reporting and compliance. February 9, 2018 Management's Discussion and Analysis U ro LL 15 December 4, 2018 - Page 340 c Management's Discussion and Analysis EAGLE COUNTY SCHOOLS Management's Discussion and Analysis As management of the Eagle County Schools (the district), we offer readers of the district's Comprehensive Annual Financial Report this narrative and analysis of the financial activities of the district for the fiscal year ended June 30, 2017. We encourage readers to consider the information presented here in conjunction with additional information that can be found in the letter of transmittal on pages 1-8 of this report. Financial Highlights At June 30, 2017: • The primary government has a government -wide deficit net position of $110,342,012. This is the amount the liabilities and deferred inflows of resources exceeded its assets and deferred outflows of resources. The net deficit position is primarily due to the district recognizing its proportionate share of a net pension liability of $255,376,474. • Total net position decreased by $32,377,161 for the fiscal year which is due pension related items, including the pension liability increasing by $122,660,683. • At the end of the current fiscal year, primary government's governmental funds reported combined ending fund balances of $163,193,309, an increase of $136,701,708 from the prior year. • At the end of the current fiscal year, unassigned fund balance for the General Fund is $10,895,790 or 15.06% of total General Fund expenditures and transfers. • The primary government's long-term debt increased by $143,047,911 to $281,775,470. Overview of the Financial Statements Management's discussion and analysis is intended to serve as an introduction to the district's basic financial statements. The district's basic financial statements are comprised of three components: 1) government -wide financial statements, 2) fund financial statements, and 3) notes to the basic financial statements. This report also contains other supplementary information in addition to the basic financial statements. Government -Wide Financial Statements The government -wide financial statements are designed to provide the reader of the district's Comprehensive Annual Financial Report a broad overview of the financial activities in a manner similar to a private sector business. The government -wide financial statements include the Statement of Net Position and the Statement of Activities. The Statement of Net Position presents information on all of the district's assets, deferred outflows of resources, liabilities and deferred inflows of resources. The difference between assets plus deferred outflows and liabilities plus deferred inflows, is reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the district is improving or deteriorating. LL 16 December 4, 2018 - Page 341 0 EAGLE COUNTY SCHOOLS The Statement of Activities presents information showing how the district's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and changes in long-term compensated absences). Both of the government -wide financial statements distinguish functions of the district that are principally supported by taxes and intergovernmental revenues (governmental activities) and from other functions that are intended to recover a significant portion of their costs through user fees and charges (business - type activities). Governmental activities consolidate all of the following district funds: General Fund, Governmental Designated -Purpose Grants Fund, Bond Redemption Fund, Nutrition Services Fund, Capital Reserve Fund, Building Fund and the Transportation Fund. Business -type activities include the District Housing Fund. The government -wide financial statements include not only the district itself (known as the primary government), but also information of the legally separate Eagle County Charter Academy. The Eagle County Charter Academy functions for all practical purposes as a school of the district, and therefore this organization has been included as an integral part of the district's financial statements. The government -wide financial statements can be found on pages 35-37 of this report. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The district, like other governments, uses fund accounting to ensure and demonstrate compliance with finance -related legal requirements. All of the funds of the district have been divided into three categories: governmental funds, proprietary funds and fiduciary funds. Governmental Funds Governmental funds are used to account for essentially the same functions reported as governmental activities in the government -wide financial statements. However, unlike the government -wide statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financing requirements. Because the focus of governmental funds is narrower than that of the government -wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government -wide financial statements. By doing so, readers may better understand the long-term impact of the district's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenue, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. Management's Discussion and Analysis 17 December 4, 2018 - Page 342 0 Management's Discussion and Analysis EAGLE COUNTY SCHOOLS The district maintains three individual governmental funds called major funds: the General Fund, Bond Redemption Fund and the Building Fund. They are presented separately in the fund financial statements with the remaining governmental funds combined; Nutrition Services, Designated Purpose Grants, Capital Reserve and the Transportation Fund, are labeled as non -major governmental funds. The basic governmental fund financial statements can be found on pages 38-41 of this report. Proprietary Funds The district maintains one type of proprietary fund. Enterprise funds are used to present the same functions as the business -type activities presented in the government -wide financial statements. The district uses an enterprise fund to account for its district housing operations. The basic proprietary fund financial statements can be found on pages 42-44 of this report. Fiduciary Funds Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government -wide financial statements because these sources of funds are not available to support the district's direct educational programs. The accounting method used for fiduciary funds is much like that used for proprietary funds. The Fiduciary Fund used by the district accounts for student clubs and other organizations which exist with the explicit approval of, and are subject to revocation by the district's Board of Education. The basic fiduciary fund financial statements can be found on page 45 and 84 of this report. Notes to the Financial Statements The notes to the financial statements provide additional information that is essential to a full understanding of the data provided in the government -wide and fund financial statements. The notes to financial statements can be found on pages 46-68 of this report. Other Information In addition to the basic financial statements, accompanying notes, this report also contains other required supplementary information concerning the district's schedule of proportionate share of pension related items, and budget process. Within a statutory timeline, the board of education adopts a resolution appropriating an annual budget for each of the individual governmental funds. A Budgetary Comparison Schedule for the General Fund has been provided to demonstrate compliance with the district's adopted budget followed by the Notes to Required Supplementary Information. Required Supplementary Information can be found on pages 70-73 of this report. The Combining and Individual Fund Statements and Schedules follow the Required Supplementary Information and include the remaining governmental funds budgetary comparison schedules. These statements and schedules can be found on pages 75-84 of this report. Government -wide Financial Analysis Net position may serve over time as a useful indicator of a government's financial position. The governmental activities liabilities and deferred inflows of resources of the district exceeded its assets and deferred outflows of resources by $111.2 million (net position deficit) at June 30, 2017. The assets of the district are composed of the current assets, other noncurrent assets, and capital assets. Current and other assets include cash, investments, receivables, prepaid expenses, deposits and 18 inventories. Current assets increased $142 million. Cash and investments equate to 98% of the current assets. These assets are available to provide resources for the near-term operations of the district. December 4, 2018 - Page 343 0 EAGLE COUNTY SCHOOLS Other noncurrent assets include restricted cash and investments. Capital assets are used in the operations of the district. These assets are land, buildings, and equipment. Capital assets are discussed in greater detail in Note 3. For refunding of debt resulting in defeasance, deferred outflows of resources are the differences where the net carrying value of the old debt is less than the reacquisition price. Current and noncurrent liabilities are determined based on anticipated liquidation either in the near-term or in the future. Current liabilities include accounts payable, accrued salaries and benefits, unearned revenues and current debt obligations. The liquidation of current liabilities is anticipated to be either from current available resources, current assets or new resources that become available during fiscal year 2018. Long-term liabilities such as long-term debt obligations and compensated absences will be liquidated from resources that will become available after fiscal year 2018. Also included in noncurrent liabilities is the district's proportionate share of the net pension liability. Due to the implementation of GASB Statement No. 68, deferred outflows of resources and deferred inflows of resources can result from the net difference between expected and actual experience, projected and actual earnings on pension plan investments, changes in the district's proportionate share of the net pension liability, changes of assumptions, as well as contributions made by the district to Colorado Public Employees' Retirement Associations' (PERA) after PERA's measurement date. As of June 30, 2017, the liabilities plus deferred inflows exceed assets plus deferred outflows of the primary government's governmental activities by $111,196,380 with an unrestricted deficit net position of $145,103,309. Prior to implementing GASB Statement No. 68, the district was able to report positive balances in all three categories of net position. In fiscal year 2017, the amount of "capital assets, net of accumulated depreciation" for the primary government's governmental activities decreased by $3,322,409 to $134,304,490 which was related to the net impact of $5,220,629 in additional assets less current years depreciation expense of $8,543,038. Colorado Revised Statute Article X, Section 20, Taxpayer Bill of Rights (TABOR) requires the district to establish reserves. The net position restricted for TABOR, as required by statute, increased $315,000 as of June 30, 2017, resulting in a total of $2,375,000. The $264,988,026 increase in liabilities plus deferred inflows is primarily attributable to the district recognizing its proportionate share of PERA's net pension liability of $255,376,474. Management's Discussion and Analysis 19 December 4, 2018 - Page 344 0 EAGLE COUNTY SCHOOLS Government -wide Activities Total assets increased by $150,097,974 and total deferred outflows of resources increased by $82,511,239. Table 1 provides a summary of the district's net position as of June 30, 2017 compared to June 30, 2016. Table 1 Comparative Summary of Net Position As of June 30, 2017 and 2016 Governmental Activities FY 2017 FY 2016 Assets: Current and other assets $ 178,099,361 Capital assets 156,544,145 Total Assets 334,643,506 Deferred Outflows Liabilities: Other liabilities Long-term liabilities Total Liabilities Deferred Inflows Net Position: Net Investment in Capital Assets Restricted Unrestricted Total Net Position Management's Discussion and Analysis ra D r LL 20 109,803,132 $ 35,617,872 148,927,660 184,545,532 27,291,893 24,578,072 17,703,670 528,788,935 271,042,842 553,367,007 288,746,512 2,276,011 1,908,480 14,276,986 19,629,943 (145,103,309) $ (111,196,380) 12,272,934 16,058,646 (107,149,147) $ (78,817,567) Business -type Activities FY 2017 FY 2016 $ 795,461 71,288 866,749 12,381 $ 775,532 84,936 860,468 7,752 Total FY 2017 FY 2016 $ 178,894,822 $ 36,393,404 156,615,433 149,012,596 335,510,255 185,406,000 109,803,132 27,291,893 24,590,453 17,711,422 528,788,935 271,042,842 12,381 7,752 553,379,388 288,754,264 2,276,011 1,908,480 71,288 84,936 14,348,274 19,629,943 783,080 767,780 (144,320,229) $ 854,368 $ 852,716 $ (110,342,012) 12,357,870 16,058,646 (106,381,367) $ (77,964,851) December 4, 2018 - Page 345 c EAGLE COUNTY SCHOOLS Governmental Activities Governmental activities decreased the net position of the district $32,378,813 during the year ended June 30, 2017. This decrease is a combination of increased revenue and expenses tied to the bond and mill levy. Property taxes increased by $13.4 million due to increased assessed value along with the voter approved $8 million mill levy. State equalization decreased by $1.3 million which was offset by local property taxes. Expenses increased in relation to pension expense. Table 2 provides a summary of the district's change in net position for 2017 compared to 2016. Table 2 Comparative Summary of Changes in Net Position For the Years Ended June 30, 2017 and 2016 Revenues: Program revenues Charges for services Operating grants and contributions Capital grants and contributions General revenues Property taxes Specific ownership taxes State revenue Not restricted grants Investment earnings Other Total revenues Expenses: Direct Instruction Supporting Services Interest Employee housing Total expenses Changes in net position Net position - July 1 Net position - June 30 Governmental Activities FY 2017 FY 2016 $ 3,840,408 7,945,748 61,073 68,961,670 3,136, 892 17,268,541 536,267 711,466 1,003,563 $ 3,537,130 8,580,035 122,277 55,590,666 2,736,271 15,850,394 504,550 52,248 1,227,620 103,465,628 88,201,191 80,062,490 51,406,006 48,123,875 35,404,876 7,658,076 5,271,362 135,844,441 92,082,244 (32,378,813) (3,881,053) (78,817,567) (74,936,514) (111,196,380) Business -type Activities Total FY 2017 FY 2016 $ 127,184 $ 125,619 127,184 125,619 125,532 129,249 125,532 129,249 FY 2017 FY 2016 $ 3,967,592 7,945,748 61,073 68,961,670 3,136,892 17,268,541 536,267 711,466 1,003,563 $ 3,662,749 8,580,035 122,277 55,590,666 2,736,271 15,850,394 504,550 52,248 1,227,620 103,592,812 88,326,810 80,062,490 51,406,006 48,123,875 35,404,876 7,658,076 5,271,362 125,532 129,249 135,969,973 92,211,493 1,652 (3,630) (32,377,161) (3,884,683) 852,716 856,346 (77,964,851) (74,080,168) (78,817,567) 854,368 852,716 (110,342,012) (77,964,851) Management's Discussion and Analysis 21 December 4, 2018 - Page 346 0 Management's Discussion and Analysis U c co c 22 EAGLE COUNTY SCHOOLS Table 3 provides a summary of the district's change in Assets & Deferred Outflows of Resources of Governmental Activities for 2017 compared to 2016. Table 3 Comparative Summary of Assets & Deferred Outflows of Resources of Governmental Activities As of June 30, 2017 and 2016 Increase FY 2017 FY 2016 (Decrease) ASSETS Cash and Investments $ 39,430,612 $ 31,072,702 $ 8,357,910 Restricted Cash and Investments 135,105,819 1,285,543 133,820,276 Accounts Receivable 171,942 101,670 70,272 Taxes Receivable 3,009,772 2,743,260 266,512 Grants Receivable 296,671 349,276 (52,605) Inventories 84,545 65,421 19,124 Capital Assets, Not Being Depreciated 22,239,655 11,300,761 10,938,894 Capital Assets, Net of Accumulated Dep. 134,304,490 137,626,899 (3,322,409) Total Assets $ 334,643,506 $ 184,545,532 $ 150,097,974 DEFERRED OUTFLOWS OF RESOURCES Loss on Debt Refunding $ 9,341,813 $ 9,385,605 $ (43,792) Pensions 100,461,319 17,906,288 82,555,031 Total Deferred Outlfows of Resources $ 109,803,132 $ 27,291,893 $ 82,511,239 Total assets increased by $150 million. Cash and investments increased $142 million due primarily to unspent bond proceeds and to the increased mills certified for the new bond principal and interest payments due in the next fiscal year. The Capital Assets, Not Being Depreciated increased by $10.9 million. This reflects capital assets being purchased with bond proceeds. The $3,322,409 decrease in capital assets, net of accumulated depreciation is primarily due to the depreciation expense. The net difference between projected and actual earnings on pension plan investments as well as contributions made by the district after the plan's measurement date resulted in a change in deferred outflows of $82.5 million. December 4, 2018 - Page 347 0 EAGLE COUNTY SCHOOLS Table 4 Comparative Summary of Liabilities & Deferred Inflows of Resources As of June 30, 2017 and 2016 LIABILITIES Accounts Payable Accrued Liabilities Accrued Salaries and Benefits Unearned Revenues Accrued Interest Payable Noncurrent Liabilities Due Within One Year Due in More Than One Year Net Pension Liability FY 2017 FY 2016 $ 6,386,654 903,550 6,644,814 330,833 992,404 9,319,817 273,412,461 255,376,474 Total Liabilities $ 553,367,007 DEFERRED INFLOWS OF RESOURCES Pensions $ 2,276,011 $ 587,816 1,533,486 5,717,703 253,461 496,535 9,114,669 138,327,051 132,715,791 $ 288,746,512 $ 1,908,480 Increase (Decrease) $ 5,798,838 (629,936) 927,111 77,372 495,869 205,148 135,085,410 122,660,683 $ 264,620,495 $ 367,531 Accounts payable increased by $5.7 million due to the increased activity of capital construction projects as part of the 2016 voter approved bonds. Accrued liabilities decreased by $629,936 due to the timing of the year end payroll. Accrued salaries and benefits increased by $927,111 due to salary increases given, benefit increases and growth in the number of employees. The increase in unearned revenues is due to decreased grant program activity. The increase in accrued interest reflects the increased bond interest due by the district because of the newly issued debt. The increase in noncurrent liabilities due within one year is primarily due to the increase in newly issued debt. Refer to Note 5. The increase in net pension liability is due to recognizing the districts increased proportionate share of the net pension liability. Refer to Note 9. Deferred inflows of resources related to pensions increased $367,531 primarily due to the changes in assumptions or other inputs for the net pension liability under GASB Statement No. 68 The primary source of operating revenue for school districts comes from the School Finance Act of 1994 (SFA). Under the SFA after the balance stabilization factor' was applied, the district received $7,706.68 per funded pupil. For the fiscal year ended June 30, 2016, the funded pupil count was 7,587.03, a growth rate of 1.8% over the prior fiscal year. Funding for the SFA comes from real estate property taxes, specific ownership personal property tax and State equalization. For fiscal year 2017, SFA per pupil funding increased by $119.65 per student. Management's Discussion and Analysis 23 December 4, 2018 - Page 348 0 Management's Discussion and Analysis U c co c 24 EAGLE COUNTY SCHOOLS The Statement of Activities shows the cost of program services and charges for services, grants and contributions offsetting those services. Table 5 shows the total cost of services and the net cost of services for governmental activities. Table 5 Comparative Summary of Governmental Activities For the Year Ended June 30, 2017 and 2016 Total Cost of Services Net Cost of Services 2017 2016 2017 2016 Instruction $ 80,062,490 $ 51,406,006 $ 72,835,241 $ 44,774,396 Supporting services 48,123,875 35,404,876 43,564,968 29,919,321 Interest Expense 7,658,076 5,271,362 7,597,003 5,149,085 $ 135,844,441 $ 92,082,244 $ 123,997,212 $ 79,842,802 The cost of all governmental activities this year was $135.8 million compared to $92 million last year. About $11.8 million of the cost of services was financed by the users of the districts programs in the form of charges for services which is slightly less than the prior year. The total cost of services increased this year by $43.8 million. The primary increase in total costs is due to an increase in employees, salaries, and pension related items. The majority of the district's net cost of services, $44.1 million, was financed by State and district taxpayers. Financial Analysis of the Governmental Funds The focus of the district's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the district's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for discretionary use as it represents the portion of fund balance which has not yet been limited to use for a particular purpose by either an external party, the district itself, or a group or individual that has been delegated authority to assign resources for use for particular purposes by the district's board of education. At June 30, 2017, the district's governmental funds reported combined fund balances of $163,193,309, an increase of $136,701,708 from the prior year. Total unassigned fund balance of $10,895,790 constitutes 6.7% of the total fund balance, which is available for spending at the district's discretion. The remainder of the fund balance is; assigned $1,609,274, restricted for particular purposes $150,603,700, and $84,545 is non -spendable. December 4, 2018 - Page 349 0 EAGLE COUNTY SCHOOLS Table 6 provides a comparative summary of the district's Combining Balance Sheet for 2017 compared to 2016. Table 6 Comparative Summary of Combining Balance Sheet For the Year Ended June 30, 2017 and 2016 Increase 2017 2016 (Decrease) ASSETS Cash and Investments $ 39,430,612 $ 31,072,702 $ 8,357,910 Restricted Cash and Investments 135,105,819 1,285,543 133,820,276 Accounts Receivable 171,942 101,670 70,272 Taxes Receivable 3,009,772 2,743,260 266,512 Grants Receivable 296,671 349,276 (52,605) Inventories 84,545 65,421 19,124 TOTAL ASSETS $ 178,099,361 $ 35,617,872 $ 142,481,489 LIABILITIES Accounts Payable $ 6,386,654 $ 587,816 $ 5,798,838 Accrued Liabilities 903,550 1,533,486 (629,936) Accrued Salaries and Benefits 6,644,814 5,717,703 927,111 Unearned Revenues 330,833 253,461 77,372 TOTAL LIABILITIES 14,265,851 DEFERRED INFLOWS OF RESOURCES Property Taxes TOTAL DEFERRED INFLOWS OF RESOURCES 640,201 640,201 8,092,466 6,173,385 1,033,805 (393,604) 1,033,805 (393,604) FUND BALANCES Nonspendable Inventories 84,545 65,421 19,124 Restricted for Mill Levy Override 1,876,142 1,876,142 Restricted for Debt Service 16,186,060 13,041,918 3,144,142 Restricted for Capital Outlay 130,166,498 445,813 129,720,685 Restricted for Multi -Year Contracts - 1,183,628 (1,183,628) Restricted for Emergencies 2,375,000 2,060,000 315,000 Assigned to Capital Outlay 1,219,643 519,411 700,232 Assigned to Transportation 5,334 58,647 (53,313) Assigned to Nutrition Services 384,297 346,353 37,944 Unrestricted, Unassigned 10,895,790 8,770,410 2,125,380 TOTAL FUND BALANCES 163,193,309 26,491,601 136,701,708 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES $ 178,099,361 $ 35,617,872 $ 142,481,489 Management's Discussion and Analysis 25 December 4, 2018 - Page 350 0 Management's Discussion and Analysis U c co c 26 EAGLE COUNTY SCHOOLS Table 7 provides a comparative summary of the district's Revenues, Expenditures and Changes in Fund Balance for 2017 compared to 2016. REVENUES Local Sources State Sources Federal Sources Total Revenues Table 7 Comparative Summary of Combining Statement of Revenues, Expenditures and Changes in Fund Balance For the Year Ended June 30, 2017 and 2016 Increase 2017 2016 (Decrease) $ 78,490,853 $ 63,864,133 $ 14,626,720 20,757,187 19,264,692 1,492,495 4,611,192 4,866,203 (255,011) 103,859,232 87,995,028 15,864,204 EXPENDITURES Current Instruction 45,751,135 41,077,017 4,674,118 Supporting Services 32,548,311 30,065,020 2,483,291 Capital Outlay 17,028,989 545,518 16,483,471 Debt Service Principal 9,000,000 9,610,000 (610,000) Interest and Fiscal Charges 8,468,699 6,169,934 2,298,765 Total Expenditures 112,797,134 87,467,489 25,329,645 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (8,937,902) 527,539 (9,465,441) OTHER FINANCING SOURCES (USES) Debt Issued 131,770,000 131,770,000 Debt Premium 22,332,115 22,332,115 Payment to Escrow Agent (8,462,505) (8,462,505) Transfers In 3,328,625 2,566,583 762,042 Transfers Out (3,328,625) (2,566,583) (762,042) TOTAL OTHER FINANCING SOURCES (USES) 145,639,610 - (8,462,505) NET CHANGE IN FUND BALANCES 136,701,708 527,539 136,174,169 FUND BALANCES, Beginning 26,491,601 25,964,062 527,539 FUND BALANCES, Ending $ 163,193,309 $ 26,491,601 $ 136,701,708 December 4, 2018 - Page 351 0 EAGLE COUNTY SCHOOLS General Fund: The General Fund is the main operating fund of the district. The General Fund had $75,462,209 in revenues and $69,842,569 in expenditures and transfers out of $2,486,746. As of June 30, 2017, the General Fund reflects an ending fund balance of $15,146,932, an increase of $3,132,894 from the prior year. The increase is primarily the result of planned mill levy carryover of $1,876,142. Approximately 79.3% of General Fund expenditures are for staff salaries and benefits. For the 201647 fiscal year, all employees received an average increase of 10% for a combined market adjustment and cost of living increase as well as a 1% performance pay. Additionally, the district was required to make an additional 0.5% for half of the year contribution to PERA, the State of Colorado's retirement plan. The district also absorbed all employee benefit plan increases. General Fund expenditures by school level/department are shown in Table 8 below. The district spent 84.6% of General Fund dollars on instruction related activities. Schools and various departments include both instructional and support expenditures. Table 8 General Fund Expenditures by School Level/Department For the Year Ended June 30, 2017 and 2016 Increase 2017 2016 (Decrease) EXPENDITURES Regular instruction Elementary schools $ 19,510,482 $ 18,186,380 $ 1,324,102 Middle schools 6,387,187 6,003,409 383,778 High schools 14,650,752 12,688,637 1,962,115 Special instruction Exceptional Student Services 7,959,028 7,237,799 721,229 Early Childhood 3,504,129 2,904,348 599,781 Support services Superintendent 1,318,172 1,151,509 166,663 Educator Quality 656,559 511,587 144,972 Instructional Services 1,278,391 1,177,487 100,904 Student Services 578,096 641,402 (63,306) Assessment 149,116 85,694 63,422 ELA 2,947,991 2,471,204 476,787 Community Relations 318,990 267,275 51,715 Business Services 1,199,987 1,285,662 (85,675) Human Resources 1,375,089 1,046,160 328,929 Maintenance 1,911,745 1,789,983 121,762 Technology 2,499,187 2,148,230 350,957 County services (PILT) 239,500 153,750 85,750 Charter School Allocation 3,358,168 2,913,699 444,469 Transfers 2,486,746 2,566,583 (79,837) Total Expenditures $ 72,329,315 $ 65,230,798 $ 7,098,517 Management's Discussion and Analysis 27 December 4, 2018 - Page 352 0 Management's Discussion and Analysis ra D r 28 EAGLE COUNTY SCHOOLS Table 9 General Operating Fund Expenditures By Function For the Past Five Fiscal Years (Percentages) Instruction Regular Instruction Support Services - Students Support Services - Instructional Total Instruction Support School Administration and Operations District Wide/Community Services Total Support Debt Service Principal Interest and Fiscal Charges Total 2017 2016 2015 2014 2013 60.40% 60.10% 59.20% 60.91% 60.28% 5.67% 5.50% 5.02% 4.26% 3.95% 6.58% 7.29% 7.98% 6.32% 5.88% 72.66% 72.90% 72.20% 71.49% 70.11% 26.98% 26.83% 27.36% 28.07% 28.16% 0.36% 0.27% 0.44% 0.44% 0.38% 27.34% 27.10% 27.80% 28.51% 28.54% 0.35% 1.00% 100% 100% 100% 100% 100% An analysis of the district's General Fund ending fund balance is shown in the following chart. Over the 10 year period 2007-08 to 2016-17, the fund balance of the General Fund has fluctuated from a low of $10,511,922 at June 30, 2012 to a high of $16,057,919 at June 30, 2008 to its current amount of $15,146,935. 15,146,932 Ten Year Comparison of General Fund - Fund Balance 12,014,038 11,962,930 ■ . 1 11,196.733 1,088,502 10,711,902 10,511,922 12,866,103 13, 548,672 16,057,919 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 December 4, 2018 - Page 353 0 EAGLE COUNTY SCHOOLS Nutrition Services Fund: The majority of the $1.9 million in revenues comes from the National School Lunch and Breakfast Programs, with 41% of our students qualifying for free and reduced lunch. The fund is self -supportive except for a transfer in of $93,865 to reflect salary increases provided by the mill levy. This fund generated a $57,068 net change in fund balance. Designated -Purpose Grant Fund: Grant resources dropped by approximately $490 thousand from the prior year which attributes mostly to local resources. The district continues to search for and apply for grants that align with the strategic plan. Transportation Fund: Both revenues and expenditures have increased from the prior year. The district began adding back routes which increased the costs. The State reimbursement is based off route miles driven so this also increases the district's State revenues. The net change in fund balance of $(53,313) resulted in an ending fund balance of $5,334. The increase in charges for services is due to activities and trips. Building Fund: In November 2016, Eagle County residents passed a bond that generated $154,102,115 in bond proceeds. Proceeds were used to pay off Certificate of Participation whose principal and interest payments were historically being paid out of the capital reserve fund. Bond projects included improving safety and security district wide, replacing outdated roofs and mechanical systems, adding classrooms, renovating and reconstructing 3 of our oldest schools and overall improving classroom space and building quality across all district facilities. As of June 30, 2017 $16,017,548 was expended towards these capital projects. Capital Reserve Fund: Expenditures of $1,011,441 focused on a "break/fix" model. Limited resources for capital projects continue to take a toll on facilities. Significant needs are being addressed through the Building Fund with bond proceeds. District Housing Fund: The only source of revenue was rental income of $127,184 with $125,532 expended for a part-time employee, maintenance, utilities and depreciation resulting in an ending fund balance of $854,368. Budgetary Highlights Colorado local government uniform accounting and budget laws require that a budget be adopted and reported for all funds. Total expenditures for each fund may not exceed the amount appropriated. Appropriations for a fund may be increased provided they are offset by unanticipated revenue. All appropriations lapse at the end of the fiscal year. Fund balance appropriations that alter the total expenditures of any fund must be approved by the Board of Education. The district's original budget for the 2016-17 fiscal year was adopted by the Board of Education at its June 15, 2016 meeting and the revised budget was adopted at its January 25, 2017 meeting. Revisions were made to the General Fund: Management's Discussion and Analysis 29 December 4, 2018 - Page 354 0 Management's Discussion and Analysis 30 EAGLE COUNTY SCHOOLS General Fund: The total General Fund appropriation was increased primarily due to increased funding provided by the School Finance Act based on student count, increase of Per Pupil Revenue, and reallocation between local and state sources due to increased assessed value. General Fund revenue was also increased due to the voter approved mill levy override of $8,000,000. Expenditures increased to accommodate the November 2016 voter approved 3A related expenditures, additional staffing, purchased services and transfer amounts. A Budgetary Comparison Schedule for the General Fund is included on page 71 of this document. Significant differences between final budgeted and actual revenues are as follows: There is a $1,638,164 positive variance between actual revenues and the final budget amount. There are some variances in property tax, specific ownership and state equalization resulting in a $304,166 positive impact. The major increases include an increase in local sources above projected. Total positive variance between final budget and actual expenditures is $2,441,448, which is due to spending less than budgeted. This equates to 3.38% variance. Non -Personnel Variance The district allows schools and departments to carryover unused budget allocations from year to year. Schools and departments use this procedure to accumulate funds for large purchases or multi-year projects; it also keeps schools and departments from excessive year end spending. December 4, 2018 - Page 355 0 EAGLE COUNTY SCHOOLS Capital Assets and Debt Administration The district's investment in capital assets for its governmental and business -type activities as of June 30, 2016 and 2017 are $289,589,749 and $305,217,103 respectively. Assets: (not net of accumulated depreciation Land Buildings and Improvements Vehicles and Equipment Total Assets Table 10 Comparative Summary of Capital Assets For the Year Ended June 30, 2017 and 2016 Governmental Activities 2017 FY 2016 22,239,655 268,668,904 13,493,270 $ 304,401,829 Governmental Activities Depreciation Expense: Instruction Supporting Services Total $ 5,980,127 2,562,911 $ 8,543,038 Business -type Activities Total FY 2017 FY 2016 11,300, 761 11,776 264,660,004 803,498 12,813,710 - $ 288,774,475 $815,274 $ 5,803,462 2,487,198 $ 8,290,660 Business -Type Activities Depreciation Expense: District Housing $ 13,648 $ 13,648 FY 2017 FY 2016 11,776 22,251,431 803,498 269,472,402 13,493,270 $ 815,274 $ 305,217,103 Additional information on the district's capital assets can be found in Note 3 of this report. 11,312,537 265,463,502 12,813,710 $ 289,589,749 At June 30, 2017, the district had total (principal and interest) bonded debt outstanding of $281,775,470 backed by the full faith and credit of the district. Additionally, the district has long-term debt obligations for compensated absences in the amount of $956,808 outstanding at the end of the current fiscal year. Table 11 Comparative Summary of Long Term Debt For the Year Ended June 30, 2017 and 2016 2017 2016 General Obligation Bonds $ 281,775,470 $ 138,727,559 Compensated Absences 956,808 955,576 Certificates of Participation - 7,758,585 Total Long Term Debt $ 282,732,278 $ 147,441,720 The district maintains a "AA" rating from Standard & Poor's, an "AA+" rating from Fitch Ratings and a "Aa2" rating from Moody's Investors Services for its general obligation debt. State statue limits the amount of general obligation debt a government may issue to 20% of its total assessed valuation. At June 30, 2017, the district's legal debt limit is $547,965,708 and the district's total outstanding general obligation bonds are under the legal debt limit by $262,411,060. Additional information on the district's long-term obligations can be found in Note 5 of this report. Management's Discussion and Analysis 31 December 4, 2018 - Page 356 0 EAGLE COUNTY SCHOOLS Economic Factors and Next Year's Budget Each year the State budget is crafted by the governor and legislature to determine how much of the total budget will be allocated to K-12 education. The State economic picture is important to the district because a major source of funding for the district's General Fund is received through the State's School Finance Act established by the State legislature. During the Great Recession, state revenue shortfalls forced cuts to K-12 education even though constitutionally mandated funding increases exist under Amendment 23. After the State sets the total funding for K-12 public education, each local district determines how to fund its specific system and allocate resources to every school within its district. Approximately 67.3 of the district's General Fund revenues are a result of State level decisions. The Colorado State Legislature approved the 2017-18 School Finance Act (SFA) and increased the statewide per pupil base funding by inflation, or 2.8 percent, and an additional amount beyond inflation and student growth. However, for the seventh consecutive year the Colorado State Legislature continued to lower the statewide total funding by applying a budget stabilization factor to reduce total program funding received by each school district. For the district, this budget stabilization factor in the SFA averages over $7.1 million annually and has accumulated to over $49.7 million cumulatively in lost State revenues. The funded pupil count is the real driver of school funding. The SFA identifies a per -pupil funding amount, and the number of full-time students enrolled in a district determines the amount of total funding. The funded pupil count refers to the number of full-time students enrolled in a district. Not all students (kindergartners for example) attend school on a full-time basis; the funded pupil count is different from the total enrollment, or district membership. The official pupil count occurs each October 1 and results in the funded pupil count numbers. The district's state per pupil revenue (PPR) for 2017-18 is $7,937.94. The budget implications are substantial if projected enrollment growth is not realized. Actual funded pupil count information is generally received after the close of the first quarter of the fiscal year and many staffing and programmatic changes cannot be made without significant impacts to students. For this reason, the district generally undertakes a reasonable, yet conservative, projection methodology to reduce the risk of a funding shortfall compared to expected revenues. Requests for Information To This financial report is designed to provide a general overview of the Eagle County Schools' finances for Q all those with an interest in the district. Questions concerning any of the information provided in this report or requests for additional information should be addressed to: o . Sandy Mutchler, CPA, Chief Operating Officer Eagle County Schools Business Services PO Box 740 Eagle, Colorado 81631 C) CIJE CO sandra.mutchler@eaglecountyschools.net U c co c LL 32 December 4, 2018 - Page 357 0 EAGLE COUNTY SCHOOLS .. s�man%deal d Stock n... If. a RIOT. ll. 'ft 3 ft--' Iftik December 4, 2018 - Page 358 0 EAGLE COUNTY SCHOOLS BASIC FINANCIAL STATEMENTS December 4, 2018 - Page 359 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS STATEMENT OF NET POSITION June 30, 2017 PRIMARY GOVERNMENT GOVERNMENTAL BUSINESS -TYPE ACTIVITIES ACTIVITIES TOTAL COMPONENT UNIT EAGLE COUNTY CHARTER ACADEMY ASSETS Cash and Investments $ 39,430,612 $ 792,776 $ 40,223,388 $ 1,915,774 Restricted Cash and Investments 135,105,819 - 135,105,819 - Accounts Receivable 171,942 2,685 174,627 196,432 Taxes Receivable 3,009,772 - 3,009,772 - Grants Receivable 296,671 - 296,671 - Prepaid Expenses - - - 14,500 Inventories 84,545 84,545 12,002 Capital Assets, Not Being Depreciated 22,239,655 11,776 22,251,431 - Capital Assets, Net of Accumulated Depreciation 134,304,490 59,512 134,364,002 10,295,938 TOTAL ASSETS 334,643,506 866,749 335, 510, 255 12, 434, 646 DEFERRED OUTFLOWS OF RESOURCES Loss on Debt Refunding 9,341,813 9,341,813 Pensions 100,461,319 - 100,461,319 TOTAL DEFERRED OUTFLOWS OF RESOURCES 109,803,132 4,289,952 109,803,132 4,289,952 LIABILITIES Accounts Payable 6,386,654 - 6,386,654 44,985 Accrued Liabilities 903,550 - 903,550 41,612 Accrued Salaries and Benefits 6,644,814 4,751 6,649,565 289,389 Unearned Revenues 330,833 - 330,833 14,135 Security Deposits - 7,630 7,630 - Accrued Interest Payable 992,404 - 992,404 - Noncurrent Liabilities Due Within One Year 9,319,817 - 9,319,817 - Due in More Than One Year 273,412,461 - 273,412,461 - Net Pension Liability 255,376,474 - 255,376,474 10,962,675 TOTAL LIABILITIES 553,367,007 12,381 553,379,388 11,352,796 DEFERRED INFLOWS OF RESOURCES Pensions 2,276,011 2,276,011 232,464 NET POSITION Net Investment in Capital Assets 14,276,986 Restricted for Mill Levy Override 1,876,142 Restricted for Capital Renewal - Restricted for Debt Service 15,378,801 Restricted for Emergencies 2,375,000 Unrestricted (145,103, 309) TOTAL NET POSITION 71,288 783,080 14, 348, 274 10, 295, 938 1,876,142 - - 159,068 15,378,801 - 2,375,000 115,700 (144,320,229) (5,431,368) $ (111,196,380) $ 854,368 $ (110,342,012) $ 5,139,338 The accompanying notes are an integral part of the financial statements. 35 December 4, 2018 - Page 360 0 EAGLE COUNTY SCHOOLS FUNCTIONS/PROGRAMS EAGLE COUNTY SCHOOLS STATEMENT OF ACTIVITIES Year Ended June 30, 2017 PROGRAM REVENUES OPERATING CAPITAL CHARGES GRANTS AND GRANTS AND EXPENSES FOR SERVICES CONTRIBUTIONS CONTRIBUTIONS PRIMARY GOVERNMENT Governmental Activities Instruction $ 80,062,490 $ 1,723,046 $ 5,504,203 $ - Supporting Services 48,123,875 2,117,362 2,441,545 - Interest on Long -Term Debt 7,658,076 - - 61,073 Total Governmental Activities Business -Type Activities District Housing 135, 844, 441 3,840,408 125,532 127,184 7,945,748 61,073 TOTAL PRIMARY GOVERNMENT $ 135,969,973 $ 3,967,592 $ 7,945,748 $ 61,073 COMPONENT UNIT Eagle County Charter Academy $ 6,306,552 $ 379,015 $ 3,388 $ - GENERAL REVENUES Local Property Taxes Specific Ownership Taxes State Equalization Per Pupil Revenue State Capital Construction Grants and Contributions not Restricted to Specific Programs Investment Income Other TOTAL GENERAL REVENUES CHANGE IN NET POSITION NET POSITION, Beginning NET POSITION, Ending The accompanying notes are an integral part of the financial statements. 36 December 4, 2018 - Page 361 0 EAGLE COUNTY SCHOOLS NET (EXPENSE) REVENUE AND CHANGE IN NET POSITION PRIMARY GOVERNMENT COMPONENT UNIT EAGLE COUNTY GOVERNM ENTAL BUSI NESS -TYPE CHARTER ACTIVITI ES ACTIVITI ES TOTAL ACADEMY $ (72,835,241) $ $ (72,835,241) $ (43, 564, 968) (43, 564, 968) (7,597,003) - (7,597,003) (123,997,212) - (123,997,212) (123, 997, 212) 1,652 1,652 1,652 (123,995,560) - - - (5,924,149) 68, 961, 670 - 68, 961, 670 807,283 3,136, 892 3,136, 892 17,268,541 - 17,268,541 - - - - 2,547,496 - - 91,766 536,267 536,267 825,895 711,466 - 711,466 9,884 1,003,563 - 1,003,563 65 91,618,399 (32,378,813) 1,652 (78,817,567) 852,716 91,618,399 4,282,389 (32,377,161) (1,641,760) (77,964,851) 6,781,098 $ (111,196,380) $ 854,368 $ (110,342,012) $ 5,139,338 37 December 4, 2018 - Page 362 0 Basic Financial Statements Balance Sheet — Governmental Funds 38 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS BALANCE SHEET GOVERNMENTAL FUNDS June 30, 2017 BOND NONMAJOR GENERAL BUILDING REDEMPTION FUNDS TOTAL ASSETS Cash and Investments $ 21,842,784 $ - $ 15,586,291 $ 2,001,537 $ 39,430,612 Restricted Cash and Investments 134,657,508 448,311 135,105,819 Accounts Receivable 128,293 9,917 33,732 171,942 Taxes Receivable 2,181,268 784,914 43,590 3,009,772 Grants Receivable - 296,671 296,671 Inventories 84,545 84,545 TOTAL ASSETS $ 24,152,345 $ 134,667,425 $ 16,371,205 $ 2,908,386 $ 178,099,361 LIABILITIES Accounts Payable $ 1,437,416 $ 4,949,238 $ - $ - $ 6,386,654 Accrued Liabilities 814,985 88,565 903,550 Accrued Salaries and Benefits 6,307,251 337,563 6,644,814 Unearned Revenues - 330,833 330,833 TOTAL LIABILITIES DEFERRED INFLOWS OF RESOURCES Property Taxes FUND BALANCES Nonspendable Inventories Restricted for Mill Levy Override Restricted for Debt Service Restricted for Capital Outlay Restricted for Emergencies Assigned to Capital Outlay Assigned to Transportation Assigned to Nutrition Services Unassigned 8,559,652 4,949,238 445,761 185,145 1,876,142 2,375,000 10,895,790 TOTAL FUND BALANCES 15,146,932 129,718,187 16,186,060 129,718,187 16,186,060 756,961 14,265,851 9,295 640,201 84,545 84,545 - 1,876,142 - 16,186,060 448,311 130,166,498 2,375,000 1,219,643 1,219,643 5,334 5,334 384,297 384,297 - 10,895,790 2,142,130 163,193, 309 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES $ 24,152,345 $ 134,667,425 $ 16,371,205 $ 2,908,386 $ 178,099,361 The accompanying notes are an integral part of the financial statements. December 4, 2018 - Page 363 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION June 30, 2017 Amounts Reported for Governmental Activities in the Statement of Net Position are Different Because: Total Fund Balances of Governmental Funds Capital assets used in governmental activities are not financial resources and, therefore, are not reported in governmental funds. Other long-term assets are not available to pay current year expenditures and, therefore, are deferred in governmental funds. This amount represents property taxes not available as current financial resources. Long-term liabilities and related items, including bonds payable ($281,775,470), compensated absences ($956,808) loss on refunding $9,341,813, and accrued interest payable ($992,404) are not due and payable in the current year and, therefore, are not reported in governmental funds. Pension liability ($255,376,474) and related deferred inflows ($2,276,011) and deferred outflows $100,461,319 are not due and payable in the current year and, therefore, are not reported in the funds. $ 163,193, 309 156, 544,145 640,201 (274,382,869) (157,191,166) Total Net Position of Governmental Activities $111,196,380) The accompanying notes are an integral part of the financial statements. 39 December 4, 2018 - Page 364 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS Year Ended June 30, 2017 BOND NONMAJOR GENERAL BUILDING REDEMPTION FUNDS TOTAL REVENUES Local Sources $ 54,915,535 $ 588,472 $ 20,057,272 $ 2,929,574 $ 78,490,853 State Sources 20,010,407 - 746,780 20,757,187 Federal Sources 536,267 61,073 - 4,013,852 4,611,192 TOTAL REVENUES 75,462,209 649,545 20,057,272 7,690,206 103, 859, 232 EXPENDITURES Current Instruction 43,517,610 - - 2,233,525 45,751,135 Supporting Services 26,324,959 - - 6,223,352 32,548,311 Capital Outlay - 16,017,548 - 1,011,441 17,028,989 Debt Service Principal 200,000 8,800,000 9,000,000 Interest and Fiscal Charges 207,538 7,273,400 7,480,938 Debt Issuance Costs - 987,761 - 987,761 TOTAL EXPENDITURES 69,842,569 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 5,619,640 17, 412 ,847 16, 073, 400 (16,763,302) 3,983,872 9,468,318 112,797,134 (1,778,112) (8,937,902) OTHER FINANCING SOURCES (USES) Debt Issued 131,770,000 - 131,770,000 Debt Premium - 22,332,115 - 22,332,115 Payment to Escrow Agent (8,462,505) - (8,462,505) Transfers In - 841,879 - 2,486,746 3,328,625 Transfers Out (2,486,746) - - (841,879) (3,328,625) TOTAL OTHER FINANCING SOURCES (USES) (2,486,746) 146,481,489 1,644,867 145,639,610 NET CHANGE IN FUND BALANCES 3,132,894 129,718,187 3,983,872 (133,245) 136,701,708 FUND BALANCES, Beginning 12,014,038 - 12,202,188 2,275,375 26,491,601 FUND BALANCES, Ending $ 15,146,932 $ 129,718,187 $ 16,186,060 $ 2,142,130 $ 163,193,309 The accompanying notes are an integral part of the financial statements. 40 December 4, 2018 - Page 365 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES Year Ended June 30, 2017 Amounts Reported for Governmental Activities in the Statement of Activities are Different Because: Net Change in Fund Balances of Governmental Funds $ 136,701,708 Capital outlays to purchase or construct capital assets are reported in governmental funds as expenditures. However, for governmental activities those costs are capitalized in the statement of net position and are allocated over their estimated useful lives as annual depreciation expense in the statement of activities. This is the amount by which capital outlay $16,167,102 exceeded depreciation expense ($8,543,038) and disposals ($7,579) in the current year. 7,616,485 Revenues that do not provide current financial resources are deferred in the governmental fund financial statements but are recognized in the government -wide financial statements. This amount represents the change in property taxes not available as current financial resources. (393,604) Repayments of long-term debt are expenditures in governmental funds, but they reduce long-term liabilities in the statement of net position and do not affect the statement of activities. 9,000,000 Debt proceeds provide current financial resources to governmental funds but issuing debt increases long-term liabilities in the statement of net position and does not affect the statement of activities. This amount is the net effect of these differences in the treatment of long-term debt and related items: debt proceeds ($131,770,000), debt premium ($22,332,115), and payment to trustee $8,462,505. Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds. This amount represents the change in accrued interest payable ($495,869), amortization of bond premiums $2,254,204, amortization of loss on debt refunding ($947,712), change in compensated absences payable ($1,232), net pension liability ($122,660,683), pension -related deferred outlfows of resources $82,555,031, and pension -related deferred inflows of resources ($367,531) in the current year. (145, 639, 610) (39, 663, 792) Change in Net Position of Governmental Activities $ (32,378,813) The accompanying notes are an integral part of the financial statements. 41 December 4, 2018 - Page 366 0 42 EAGLE COUNTY SCHOOLS ASSETS Current Assets Cash and Investments Accounts Receivable EAGLE COUNTY SCHOOLS STATEMENT OF NET POSITION PROPRIETARY FUND June 30, 2017 $ BUSINESS -TYPE ACTIVITIES DISTRICT HOUSING 792,776 2,685 Total Current Assets 795,461 Long -Term Assets Capital Assets, Not Being Depreciated Capital Assets, Net of Accumulated Depreciation 11,776 59,512 Total Long -Term Assets 71,288 TOTAL ASSETS 866,749 LIABILITIES Current Liabilities Accrued Salaries and Benefits Security Deposits 4,751 7,630 TOTAL LIABILITIES 12,381 NET POSITION Net Investment in Capital Assets 71,288 Unrestricted 783,080 TOTAL NET POSITION $ 854,368 The accompanying notes are an integral part of the financial statements. December 4, 2018 - Page 367 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION PROPRIETARY FUND Year Ended June 30, 2017 OPERATING REVENUES Rental Income BUSINESS -TYPE ACTIVITIES DISTRICT HOUSING $ 127,184 OPERATING EXPENSES Salaries 24,087 Employee Benefits 8,481 Purchased Services 49,188 Supplies and Materials 30,128 Depreciation 13,648 TOTAL OPERATING EXPENSES 125,532 CHANGE IN NET POSITION 1,652 NET POSITION, Beginning 852,716 NET POSITION, Ending $ 854,368 The accompanying notes are an integral part of the financial statements. '3 December 4, 2018 - Page 368 0 44 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS STATEMENT OF CASH FLOWS PROPRIETARY FUND Increase (Decrease) in Cash and Cash Equivalents Year Ended June 30, 2017 CASH FLOWS FROM OPERATING ACTIVITIES Cash Received from Tenants Cash Paid to Suppliers Cash Paid to Employees BUSINESS -TYPE ACTIVITIES DISTRICT HOUSING 126,636 (87,797) (21,485) Net Cash Provided (Used) by Operating Activities 17,354 CASH AND CASH EQUIVALENTS, Beginning 775,422 CASH AND CASH EQUIVALENTS, Ending $ 792,776 RECONCILIATION OF CHANGE IN NET POSITION TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Change in Net Position $ 1,652 Adjustments to Reconcile Change in Net Position Net Cash Provided (Used) by Operating Activities Depreciation 13,648 Changes in Assets and Liabilities Accounts Receivable (2,575) Accrued Salaries and Benefits 2,602 Security Deposits 2,027 Total Adjustments 15,702 Net Cash Provided (Used) by Operating Activities $ 17,354 The accompanying notes are an integral part of the financial statements. December 4, 2018 - Page 369 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES AGENCY FUND June 30, 2017 STUDENT ACTIVITY ASSETS Cash and Investments $ 1,290,897 Accounts Receivable 356 TOTAL ASSETS 1,291,253 LIABILITIES Due to Student Groups 1,291,253 TOTAL LIABILITIES $ 1,291,253 The accompanying notes are an integral part of the financial statements. 45 December 4, 2018 - Page 370 0 46 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Eagle County Schools (the "district") was formed in 1958 when sixteen independent districts were consolidated into a County -wide district. The district provides educational services and is governed by an elected Board of Education with seven members. The accounting policies of the district conform to generally accepted accounting principles as applicable to governmental units. The Governmental Accounting Standards Board ("GASB") is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. Following is a summary of the more significant policies. Reporting Entity The financial reporting entity consists of the district, organizations for which the district is financially accountable and organizations that raise and hold economic resources for the direct benefit of the district. All funds, organizations, institutions, agencies, departments and offices that are not legally separate are part of the district. In addition, any legally separate organizations for which the district is financially accountable are considered part of the reporting entity. Financial accountability exists if the district appoints a voting majority of the organization's governing board or if the organization is fiscally dependent, and is able to impose its will on the organization, or if the organization has the potential to provide benefits to, or impose financial burdens on, the district. Based on the application of these criteria, the district includes a charter school within its reporting entity. The charter school is a public school authorized by State statutes to provide alternatives for parents, pupils and teachers. The charter school is fiscally accountable to the district and their exclusion would render the district's financial statements misleading. Since the charter school has a separately elected board, the charter school is discretely presented in the financial statements. Separate financial statements may be obtained by contacting the school individually at the following address: Eagle County Charter Academy 1105 Miller Ranch Road Edwards, Colorado 81632 Government -wide and Fund Financial Statements The government -wide financial statements (i.e., the Statement of Net Position and the Statement of Activities) report information on all non -fiduciary activities of the district and its component unit. For the most part, the effect of inter -fund activity has been removed from these statements. Exceptions to this general rule are charges for inter -fund services that are reasonably equivalent to the services provided. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business- type activities, which rely to a significant extent on fees and charges for support. Likewise, the primary government is reported separately from the legally separate component unitfor which the district is financially accountable. December 4, 2018 - Page 371 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Government -wide and Fund Financial Statements (continued) The statement of activities demonstrates the degree to which the direct expenses of the given function or segments are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to students or other customers who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. Internally dedicated resources are reported as general revenues rather than as program revenues. Separate financial statements are provided for governmental funds, proprietary fund, and fiduciary fund, even though the latter is excluded from the district's government -wide financial statements. Major individual governmental and proprietary funds are reported as separate columns in the fund financial statements. Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Revenues are recorded when earned and expenses are recorded when the liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Agency funds utilize the accrual basis of accounting. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collected within the current year or soon enough thereafter to pay liabilities of the current year. For this purpose, the district considers revenues to be available if they are collected within 60 days of the end of the current year. Taxes, intergovernmental revenues, grants, and interest associated with the current year are considered to be susceptible to accrual and so have been recognized as revenues of the current year. All other revenues are considered to be measurable and available only when cash is received by the district. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, are recorded only when payment is due. 47 December 4, 2018 - Page 372 0 48 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Measurement Focus, Basis of Accounting, and Financial Statement Presentation (continued) Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with the fund's principal ongoing operations. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. When both restricted and unrestricted resources are available for a specific use, it is the district's practice to use restricted resources first, then unrestricted resources as they are needed. In the fund financial statements, the district reports the following major governmental funds: The General Fund is the district's primary operating fund. It accounts for all financial resources of the district, except those accounted for in another fund. Major revenue sources include local property taxes, specific ownership (personal property) taxes, and State of Colorado equalization funding, as determined by the School Finance Act of 1994, as amended. Expenditures include all costs associated with the daily operation of the schools, except for programs funded by grants from federal and state governments, certain capital outlay expenditures, debt service, food service operations, transportation operations, district housing and other pupil activities. The Building Fund is used to account for the acquisition of sites, buildings, equipment and vehicles. Eagle County Schools only reports expenditures related to bond projects in this fund. The Bond Redemption Fund is used to account for the accumulation of resources for, and the payment of, Tong -term debt principal, interest, and related costs. The fund's primary revenue source is local property taxes levied specifically for debt service. December 4, 2018 - Page 373 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Measurement Focus, Basis of Accounting, and Financial Statement Presentation (continued) Additionally, the district reports the following fund types: Proprietary Funds — These funds focus on the determination of the changes in fund net position, financial position, and cash flows and are classified as either enterprise or internal service. Enterprise Funds may be used to account for any activity for which a fee is charged to external users for goods or services. The District has one enterprise fund which is the District Housing Fund used to account for the rental and maintenance of housing provided to district employees. Fiduciary Fund — The District's only agency fund is the Student Activity Fund. The Agency Fund is used to account for resources used to support each District's student and fundraising activities. The district holds all resources in a purely custodial capacity. Assets, Liabilities and Fund Equity Cash and Investments - The district utilizes the pooled cash concept whereby cash balances of each of the district's funds are pooled and invested by the district. It is the intention of the investment pool to maximize interest income, and securities are selected according to their risk, marketability, and diversification. For purposes of the statement of cash flows, the district considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Investments in pooled cash are considered to be cash equivalents. Receivables- All receivables are reported at their gross value and, where appropriate, are reduced by the estimated portion that is expected to be uncollectible. Property taxes levied in the current year but not received at year end are reported as taxes receivable and are presented net of an allowance for uncollectible taxes of 1% of the total levy. Inventories- Materials and supplies inventories are stated using the first-in/first-out (FIFO) method. Nutrition Services Fund inventories consist of purchased and donated commodities. Donated commodities, received at no cost under a program supported by the federal government, are valued based upon the cost furnished by the federal government. 49 December 4, 2018 - Page 374 0 50 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Assets, Liabilities and Fund Equity (continued) Capital Assets - Capital assets, which include property and equipment, are reported in the applicable governmental or business -type activities columns in the government -wide financial statements and the proprietary fund in the fund financial statements. Capital assets are defined as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at the acquisition value on the date of donation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. Property and equipment of the district is depreciated using the straight line method over the following estimated useful lives. Buildings and Improvements 15-30 years Vehicles 7-13 years Equipment 5-20 years Accrued Salaries and Benefits - Salaries and benefits of certain contractually employed personnel are paid over a twelve month period from September to August, but are earned during a school year of approximately nine to ten months. The salaries and benefits earned, but unpaid, at June 30, are reflected as a liability in the accompanying financial statements. Unearned Revenues - Unearned revenues include grant funds that have been collected but the corresponding expenditures have not been incurred. Compensated Absences — Employees of the district are allowed to accumulate unused vacation and sick time based on their length of employment and classification, up to a maximum of 240 hours of vacation time and 100 hours of sick time. Accumulated vacation time vests immediately, and sick time vests after 20 years of employment. These compensated absences are paid at termination. These compensated absences are recognized as expenses/expenditures when earned in the proprietary funds and when due in the governmental funds. A long-term liability has been reported in the government -wide financial statements for the accrued compensated absences. December 4, 2018 - Page 375 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Assets, Liabilities and Fund Equity (continued) Long -Term Debt - In the government -wide financial statements and the proprietary fund in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities. Debt premiums, discounts and accounting losses resulting from debt refundings are deferred and amortized over the life of the debt using the straight-line method. In the governmental fund financial statements, the face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts are reported as other financing uses. Issuance costs, whether or not withheld from the debt proceeds, are reported as current expenses or expenditures. Pensions— The district participates in the School Division Trust Fund (SDTF), a cost-sharing multiple -employer defined benefit pension plan administered by the Public Employees' Retirement Association of Colorado ("PERA"). The net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, pension expense, information about the fiduciary net position and additions to/deductions from the fiduciary net position of the SDTF have been determined using the economic resources measurement focus and the accrual basis of accounting, the same basis of accounting used by the SDTF. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Deferred Inflows of Resources— In the governmental fund financial statements, deferred inflows of resources include property taxes earned but not available as current financial resources. Fund Equity- At the governmental fund financial reporting level, fund equity is classified as fund balance. For all other reporting, it is classified as net position. Net Position - In the government -wide financial statements and the proprietary fund in the fund financial statements, net position is restricted when constraints placed on the use of resources are externally imposed. Fund Balance - In the fund financial statements, governmental funds report fund balance classifications that comprise a hierarchy based primarily on the extent to which the district is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. Fund balances are classified as follows: • Nonspendable fund balance - Amounts that are not in a spendable form (such as deposits, inventories, and prepaid items) or are required to be maintained intact (such as the corpus of an endowment fund). 51 December 4, 2018 - Page 376 0 52 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Assets, Liabilities and Fund Equity (continued) • Restricted fund balance - Amounts constrained to specific purposes by their providers (such as grantors, bondholders, and higher levels of government), through constitutional provisions, or by enabling legislation. These balances include TABOR, debt service and statute -defined special revenue funds. • Committed fund balance - Amounts constrained to specific purposes through resolution by the board of education are reported as committed. Amounts cannot be used for any other purpose unless the board takes the same action to modify or rescind the commitment. • Assigned fund balance - Amounts constrained by the district for specific purposes, but is neither restricted nor committed. Through resolution, the board of education has authorized the district's superintendent to assign fund balances. Per district policy, intended use may be expressed by the district's Board of Education and assigned by authorized individuals including the Superintendent or Chief Financial Officer. • Unassigned fund balance - The residual amount reported when the balances do not meet any of the above criterions. The district reports positive unassigned fund balance only in the general fund. Negative unassigned balances may be reported in all funds. Fund Balance Policy- The district's policy states that maintaining a fiscal year-end fund balance as an operating reserve in the general fund is a beneficial and sound financial management practice. The Board of Education assigns to the Superintendent or designee the responsibility of accumulating and maintaining a general fund fund balance amounting to 10% of the district's current fiscal year adopted budget or $10,000,000, whichever is greater at fiscal year-end, as an operating reserve. This amount will include the emergency reserve required by Article X, Section 20 of the Colorado Constitution (Taxpayer's Bill of Rights). The district has not established a formal policy for its use of restricted and unrestricted fund balances. However, if both restricted and unrestricted fund balances are available for a specific purpose, the district uses restricted fund balance first, followed by committed, assigned, and unassigned fund balances. Revenues Property Taxes - Property taxes for a calendar year are certified in arrears on December 10 and attached as a lien on the property the previous January 1. For example, property taxes paid in 2017 are certified to the county in December 2016 and are available for collection on the levy date, January 1, 2017. Property taxes are payable in full by April 30 or in two equal installments due February 28 and June 15. Property tax receipts collected by the county are generally remitted to the district in the subsequent month. December 4, 2018 - Page 377 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) State Revenues - The district receives unrestricted state equalization revenues as required by State statutes. Interest Income - Interest income earned on pooled cash is recorded as revenue in the General Fund. Interest income earned in the Bond Redemption Fund, Building Fund, Capital Reserve Fund and the Agency Fund is recorded when earned in the related fund. 53 December 4, 2018 - Page 378 0 54 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 2: CASH AND INVESTMENTS At June 30, 2017, the district had the following cash and investments: Cash on Hand $ 1,400 Deposits 5,607,040 Investments 171,011,664 Total $ 176,620,104 Cash and investments are reported in the finanical statement as follows: Cash and Investments Restricted Cash and Investments Agency fund Cash and Investments $ 40,223,388 135,105,819 1,290,897 $ 176,620,104 Deposits The Colorado Public Deposit Protection Act (PDPA) requires all local government entities to deposit cash in eligible public depositories. Eligibility is determined by state regulations. Amounts on deposit in excess of federal insurance levels must be collateralized by eligible collateral as determined by the PDPA. The PDPA allows the financial institution to create a single collateral pool for all public funds held. The pool is to be maintained by another institution, or held in trust for all uninsured public deposits as a group. The fair value of the collateral must be at least equal to 102% of the uninsured deposits. At June 30, 2017, the district had bank deposits of $5,598,615 collateralized with securities held by the financial institution's agent but not in the district's name. December 4, 2018 - Page 379 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 2: CASH AND INVESTMENTS (continued) Investments The district is required to comply with State statutes which specify investment instruments meeting defined rating, maturity, and concentration risk criteria in which local governments may invest, which include the following. State statutes do not address custodial risk. • Obligations of the United States and certain U.S. Agency securities • Certain international agency securities • General obligation and revenue bonds of U.S. local government entities • Bankers' acceptance of certain banks • Commercial paper • Written repurchase agreements collateralized by certain authorized securities • Certain money market funds • Guaranteed investment contracts • Local government investment pools Interest Rate Risk - State statutes generally limit the maturity date of investment securities to five years from the date of purchase unless the governing board authorizes the investment for a period in excess of five years. Credit Risk- The district has no policy toward credit risk other than to follow State statutes which limit certain investments to those with at least two credit ratings at or above "A" or its equivalent from nationally recognized statistical rating organizations. If it is a general obligation of this state or of any political subdivision, institution, department, agency, instrumentality, or authority of this state or carries at least two credit ratings at or above "AA" or its equivalent from such organizations. Concentration of Credit Risk - State statutes do not limit the amount the district may invest in any single issuer, except for corporate securities. Local Government Investment Pool — At June 30, 2017, the district had $171,011,664 invested in the Colorado Local Government Liquid Asset Trust (Colotrust), an investment vehicle established for local government entities in Colorado to pool surplus funds. The Colorado Division of Securities administers and enforces the requirements of creating and operating Colotrust. The pool operated in conformity with the Securities and Exchange Commission's Rule 2a-7. Colotrust is measured at the net asset value per share, with each share equal in value to $1.00. 55 December 4, 2018 - Page 380 0 56 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 2: CASH AND INVESTMENTS (continued) Colotrust is rated AAAm by Standard and Poor's. Investments of Colotrust are limited to those allowed by State statutes. A designated custodial bank provides safekeeping and depository services in connection with the direct investment and withdrawal functions. The custodian's internal records identify the investments owned by the participating governments. Restricted Cash and Investments At June 30, 2017, the Building and Capital Reserve funds held cash and investments of $134,657,508 and $448,311, respectively, representing unspent debt proceeds restricted for capital projects. December 4, 2018 - Page 381 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 3: CAPITAL ASSETS Capital asset activities for the year ended June 30, 2017, is summarized below. Eagle County School District Capital Asset Summary 6/30/2017 Balances Balances 6/30/2016 Additions Reductions 6/30/2017 Governmental Activities Capital Assets, Not Being Depreciated Land $ 11,300,761 $ 2,031,408 $ $ 13,332,169 Construction in Progress - 8,907,486 8,907,486 Total Capital Assets, Not Being Depreciated 11,300,761 10,938,894 22,239,655 Capital Assets, Being Depreciated Buildings and Improvements Equipment and Vehicles Total Capital Assets, Being Depreciated 264,660,004 12,813,710 4,068,900 1,159, 308 479,748 277,473,714 5,228,208 268,728,904 13,493, 270 479,748 282,222,174 Less Accumulated Depreciation For Buildings and Improvements 128,555,733 8,121,426 136,677,159 Equipment and Vehicles 11,291,082 421,612 472,169 11,240,525 Total Accumulated Depreciation 139,846,815 8,543,038 472,169 147,917,684 Total Capital Assets, Being Depreciated, Net 137,626,899 (3,314,830) 7,579 134,304,490 Governmental Activities Capital Assets, Net $ 148,927,660 $ 7,624,064 $ 7,579 $ 156,544,145 Business -Type Activities Capital Assets, Not Being Depreciated Land $ 11,776 - $ 11,776 Capital Assets, Being Depreciated Buildings and Improvements 803,498 - 803,498 Less Accumulated Depreciation For Buildings and Improvements 730,338 13,648 743,986 Total Capital Assets, Being Depreciated, Net 73,160 (13,648) 59,512 Business Type Activities Capital Assets, Net $ 84,936 $ (13,648) $ $ 71,288 Depreciation expense was charged to programs of the District as follows: Governmental Activities: Instruction 5,980,127 Supporting Services 2,562,911 Total $ 8,543,038 57 December 4, 2018 - Page 382 0 58 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 4: SHORT-TERM DEBT During the year ended June 30, 2017, the District borrowed $20,377,460 from the State- sponsored interest-free loan program to provide cash flow throughout the fiscal year. The loan was paid in full in May 2017, from property taxes received in February and March. NOTE 5: LONG-TERM DEBT Following is a summary of long-term debt transactions of the district for the year ended June 30, 2017. Governmental Activities General Obligation Bonds 2013 Refunding Bonds Bond Premium 2009 Refunding Bonds Bond Premium 2007 Refunding Bonds Bond Premium 2005 Refunding Bonds Bond Premium 2017 Refunding Bonds Bond Premium Total General Obligation Bonds 2010 Certificates of Participation COPs Premium Compensated Absences Balances Due Within One 6/30/16 Additions Reductions Balances 6/30/17 Year $ 101,875,000 $ $ $ 101,875,000 $ 3,070,000 14,518,366 1,319,851 13,198,515 5,575,000 1,775,000 3,800,000 1,855,000 295,785 147,893 147,892 - 2,950,000 2,950,000 146,642 146,642 - 12,855,000 4,075,000 8,780,000 4,280,000 511,766 170,559 341,207 - 131,770,000 - 131,770,000 22,332,115 469,259 21,862,856 138,727,559 154,102,115 11,054,204 281,775,470 9,205,000 7,585,000 7,585,000 173,585 173,585 955,576 524,516 523,284 956,808 114,817 Total Governmental Activities $ 147,441,720 $ 154,626,631 $ 19,336,073 $ 282,732,278 $ 9,319,817 Compensated absences of the governmental activities are expected to be liquidated with revenues of the General Fund. General Obligation Bonds General obligation bonds are direct obligations and pledge the full faith and credit of the district. The district issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. These bonds have been issued for governmental activities. Individual bond issue information is listed below: • 131,770,000 General Obligation Refunding Bonds, Series 2017, were issued to refund the outstanding Certificates of Participation, construct new school facilities and provide for other capital improvement projects. Principal payments are due annually on December 1, 2027, through 2036. Interest payments are due semi-annually on June 1 and December 1, with interest accruing at 5% per annum. December 4, 2018 - Page 383 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 5: LONG-TERM DEBT (continued) General Obligation Bonds (continued) • $102,245,000 General Obligation Refunding Bonds, Series 2013, were issued to refund a portion of the outstanding General Obligation Bonds, Series 2007. Principal payments are due annually beginning December 1, 2017 through 2026. Interest payments are due semi-annually on June 1 and December 1, with interest accruing at rates ranging from 2% to 5% per annum. • $13,800,000 General Obligation Refunding Bonds, Series 2009, were issued to refund a portion of the outstanding General Obligation Improvement and Refunding Bonds, Series 1999. Principal payments are due annually on December 1, through 2018. Interest payments are due semi-annually on June 1 and December 1, with interest accruing at rates ranging from 2.25% to 5% per annum. • $128,370,000 General Obligation Bonds, Series 2007, were issued to construct new school facilities and provide for other capital improvements projects. Principal payments were due annually on December 1, 2013, through 2016. Interest payments were due semi-annually on June 1 and December 1, with interest accruing at rates ranging from 4.5% to 5% per annum. During the year ended June 30, 2017, the bonds were paid in full. • $33,870,000 General Obligation Refunding Bonds, Series 2005, were issued to refund a portion of the General Obligation Improvement and Refunding Bonds, Series 1999. Principal payments are due annually on December 1, through 2018. Interest payments are due semi-annually on June 1 and December 1, with interest accruing at rates ranging from 3.5% to 5% per annum. Bond payments, to maturity, are as follows. Year Ended June 30, Principal Interest Total 2018 $ 9,205,000 11,474,963 20,679,963 2019 9,665,000 11,014,932 20,679,932 2020 10,130,000 10,547,425 20,677,425 2021 10,605,000 10,050,750 20,655,750 2022 11,120,000 9,517,850 20,637,850 2023-2027 63,730,000 39,555,662 103,285,662 2028-2032 62,775,000 25,401,625 88,176,625 2033-2037 68,995,000 7,902,375 76,897,375 $ 246,225,000 $ 125,465,582 $ 371,690,582 59 December 4, 2018 - Page 384 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 5: LONG-TERM DEBT (continued) General Obligation Bonds (continued) In September, 2010, the District issued $4,995,000 Certificates of Participation, Series 2010A and $6,525,000 Certificates of Participation, 2010B, used to finance the demolition of the Meadow Mountain Elementary School and the renovation of the former Battle Mountain High School. Principal payments on the Series 2010A were due annually beginning December 1, 2010, through 2040. Interest accrued at rates ranging from 2% to 4.75% per annum and were due semi-annually on June 1 and December 1. Principal payments on the Series 2010B debt were due annually beginning December 1, 2025 through 2040. Interest accrued at rates ranging from 5.13% to 6.0% per annum and were due semi-annually on June 1 and December 1. The Series 2010B Certificates of Participation were issued as Build America Bonds whereby the District would receive a subsidy from the United States Treasury equal to 35% of each interest payment. Defeased Debt In February, 2017, proceeds of the General Obligation Bonds, Series 2017, in the amount of $8,462,505 were deposited in an irrevocable trust with an escrow agent to provide for the future debt service requirements of $7,385,000 of the Certificates of Participation 2010A and 2010B. The refunding resulted in an accounting loss of $903,920, and a minimal economic loss (the difference between the present values of the old and new debt service payments). As a result the refunded bonds are considered defeased and the liability has been removed from the financial statements. The outstanding balance of the defeased debt at June 30, 2017, was $7,385,000. In June, 2013, proceeds of the General Obligation Refunding Bonds, Series 2013, in the amount of $119,849,331 were deposited in an irrevocable trust with an escrow agent to provide for the future debt service requirements of $103,590,000 of the General Obligation Refunding Bonds, Series 2007. As a result the refunded bonds are considered defeased and the liability has been removed from the financial statements. The outstanding balance of the defeased debt was called and paid on December 1, 2016. NOTE 6: INTERFUND TRANSFERS Transfers In Building Fund Nutrition Services Fund Capital Reserve Fund Transportation Fund 60 Transfers Out Capital Reserve Fund $ 841,879 General Fund 93,865 General Fund 1,669,740 General Fund 723,141 $ 3,328,625 December 4, 2018 - Page 385 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 6: INTERFUND TRANSFERS (continued) The Capital Reserve Fund transferred debt service reserves to the Building Fund in connection with the debt refunding of the district's certificates of participation. The General Fund transfers a portion of its funding to the Capital Reserve Fund to be used for capital purposes. The General Fund subsidized the student transportation program reported in the Transportation Fund and the food services operations reported in the Nutrition Services Fund. NOTE 7: RISK MANAGEMENT The district is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; injuries to employees; and natural disasters. The district accounts for and finances its risk activities in the General Fund. The district purchases commercial insurance for worker compensation risks. For its risk of property loss or damage and general liability, the District participates in the Colorado School Districts Self -Insurance Pool (CSDSIP). Colorado School Districts Self Insurance Pool The CSDSIP is sponsored by the Colorado Association of School Boards (CASB) and operates as a self-insurance pool comprised of various school districts and other related public educational entities within the State of Colorado. The CSDSIP is administered by the Pool Board. The district pays an annual premium to the CSDSIP for various types of property and liability insurance coverage. The Pool Agreement provides that the CSDSIP will be self-sustaining through member premiums and will reinsure through a duly authorized insurer. The reinsurance covers claims against the CSDSIP in excess of specific claim amounts and in the aggregate in an amount and at limits determined by the CSDSIP to be adequate to protect the solvency of the CSDSIP. The district did not have any significant reductions in insurance coverage in the prior year, nor did it have any insurance settlements exceed insurance coverage in the past three years. NOTE 8: JOINTLY GOVERNED ORGANIZATION The District, in conjunction with other surrounding Districts, created the Mountain Board of Cooperative Educational Services (BOCES). The BOCES is an organization that provides member districts services at a shared lower cost per district. The BOCES board is comprised of one member from each participating district. The BOCES financial statements can be obtained at their administrative offices located at 1713 Mount Lincoln Drive West, Leadville, Colorado 80641. During the year ended June 30, 2017, the District paid $7,790 to the BOCES. 61 December 4, 2018 - Page 386 0 EAGLE COUNTY SCHOOLS 62 Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 9: DEFINED BENEFIT PENSION PLAN General Information Plan Description- The District contributes to the School Division Trust Fund (SDTF), a cost- sharing multiple -employer defined benefit pension plan administered by the Public Employees' Retirement Association of Colorado (PERA). All employees of the District participate in the SDTF. Title 24, Article 51 of the Colorado Revised Statutes (CRS) assigns the authority to establish and amend plan provisions to the State Legislature. PERA issues a publicly available financial report that includes information on the SDTF. That report may be obtained at www.copera.org/investments/pera-financial-reports. Benefits Provided - The SDTF provides retirement, disability, and survivor benefits to plan participants or their beneficiaries. Retirement benefits are determined by the amount of service credit earned or purchased, highest average salary, the benefit structure in place, the benefit option selected at retirement, and age at retirement. The retirement benefit is the greater of the a) highest average salary multiplied by 2.5% and then multiplied by years of service credit, or b) the value of the participant's contribution account plus an equal match on the retirement date, annualized into a monthly amount based on life expectancy and other actuarial factors. In no case can the benefit amount exceed the highest average salary or the amount allowed by applicable federal regulations. Retirees may elect to withdraw their contributions upon termination of employment, and may be eligible to receive a matching amount if five years of service credit is earned and certain other criteria is met. Retirees who elect to receive a lifetime retirement benefit are generally eligible to receive post-retirement cost -of -living adjustments (COLAs) as established by State statutes. Retirees who began employment before January 1, 2007, receive an annual increase of 2%, unless PERA has a negative investment year, in which case the annual increase for the next three years is the lesser of 2% or the average consumer price index for the prior calendar year. Retirees that began employment after January 1, 2007, receive an annual increase of the lesser of 2% or the average consumer price index for the prior calendar year, with certain limitations. Disability benefits are available for plan participants once they reach five years of earned service credit and meet the definition of a disability. The disability benefit amount is based on the retirement benefit formula described previously, considering a minimum of twenty years of service credit. Survivor benefits are determined by several factors, which include the amount of earned service credit, highest average salary of the deceased, the benefit structure in place, and the qualified survivor receiving the benefits. Contributions - The District and eligible employees are required to contribute to the SDTF at rates established by Title 24, Article 51, Part 4 of the CRS. These contribution requirements are established and may be amended by the State Legislature. The contribution rate for employees is 8% of covered salaries. The District's contribution rate for calendar years 2016 and 2017 was 19.15% and 19.65% of covered salaries, respectively. However, a portion of the District's contribution (1.02% of covered salaries) is allocated to the Health Care Trust Fund (See Note 10). The District's contributions to the SDFT for the year ended June 30, 2017, were $8,196,242, equal to the required contributions. December 4, 2018 - Page 387 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 9: DEFINED BENEFIT PENSION PLAN (continued) Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At June 30, 2017, the District reported a net pension liability of $255,376,474, representing its proportionate share of the net pension liability of the SDTF. The net pension liability was measured at December 31, 2016, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of December 31, 2015. Standard update procedures were used to roll -forward the total pension liability to December 31, 2016. The District's proportion of the net pension liability was based on the District's contributions to the SDTF for the calendar year ended December 31, 2016, relative to the contributions of all participating employers. At December 31, 2016, the District's proportion was .8577202083%, which was a decrease of 0.0100268841% from its proportion measured at December 31, 2015. For the year ended June 30, 2017, the District recognized pension expense of $48,723,961. At June 30, 2017, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Differences between expected and actual experience Changes of assumptions and other inputs Net difference between projected and actual earnings on plan investments Changes in proportion Contributions subsequent to the measurement date Total Deferred Outflows of Resources 3,205,172 82,864,337 8,635,534 268,602 5,487,674 $ 100,461,319 Deferred Inflows of Resources $ 2,278 1,165,089 1,108, 644 $ 2,276,011 63 December 4, 2018 - Page 388 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 9: DEFINED BENEFIT PENSION PLAN (cont/hued) Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (continued) District contributions subsequent to the measurement date of $5,487,674 will be recognized as a reduction of the net pension liability in the subsequent fiscal year. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows. Year Ended June 30, 2018 2019 2020 2021 Total $ 37,248,170 37,002,357 18,361,929 85,178 $ 92,697,634 Actuarial Assumptions —The actuarial valuation as of December 31, 2015 determined the total pension liability using the following actuarial assumptions and other inputs. On November 18, 2016, PERA's governing board adopted revised economic and demographic assumptions, which were effective on December 31, 2016, and which were reflected in the roll -forward calculation of the total pension liability from December 31, 2015, to December 31, 2016, as follows: Price Inflation Real wage growth Wage Inflation Salary increases, including wage inflation Long-term investment rate of return, net of plan investment expenses, including price inflation Discount Rate Future post retirement benefit increases: Hired prior to January 1, 2007 Hired after December 31, 2006 64 Assumptions 2.8% 1.1% 3.9% 3.9%- 10.1% 7.5% 7.5% 2.0% ad hoc Revised Assumptions 2.4% 1.1% 3.5% 3.5%- 9.7% 7.3% 5.3% 2.0% ad hoc December 4, 2018 - Page 389 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 9: DEFINED BENEFIT PENSION PLAN (continued) Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (continued) Mortality rates used in the December 31, 2015 valuation were based on the RP -2000 Combined Mortality Table for Males or Females, as appropriate, with adjustments for mortality improvements based on a projection of Scale AA to 2020 with Males set back 1 year, and Females set back 2 years. Active member mortality was based upon the same mortality rates but adjusted to 55 percent of the base rate for males and 40 percent of the base rate for females. For disabled retirees, the RP -2000 Disabled Mortality Table (set back 2 years for males and set back 2 years for females) was assumed. The actuarial assumptions used in the December 31, 2015 valuation were based on the results of an actuarial experience study for the period January 1, 2008 through December 31, 2011, adopted by PERA's Board on November 13, 2012, and an economic assumption study, adopted by PERA's Board on November 15, 2013 and January 17, 2014. As a result of the 2016 experience analysis and the October 28, 2016 actuarial assumptions workshop, revised economic and demographic actuarial assumptions including withdrawal rates, retirement rates for early reduced and unreduced retirement, disability rates, administrative expense load, and pre- and post- retirement and disability mortality rates were adopted by PERA's Board on November 18, 2016 to more closely reflect PERA's actual experience. As the revised economic and demographic assumptions are effective as of the measurement date, December 31, 2016. These revised assumptions were reflected in the total pension liability roll -forward procedures. Healthy mortality assumptions for active members reflect the RP -2014 White Collar Employee Mortality Table, a table specifically developed for actively working people. To allow for an appropriate margin of improved mortality prospectively, the mortality rates incorporate a 70 percent factor applied to male rates and a 55 percent factor applied to female rates. Healthy, post-retirement mortality assumptions reflect the RP -2014 White Collar Healthy Annuitant Mortality Table, adjusted as follows: Males: Mortality improvement projected to 2018 using the MP -2015 projection scale, a 93 percent factor applied to rates for ages less than 80, a 113 percent factor applied to rates for ages 80 and above, and further adjustments for credibility. Females: Mortality improvement projected to 2020 using the MP -2015 projection scale, a 68 percent factor applied to rates for ages less than 80, a 106 percent factor applied to rates for ages 80 and above, and further adjustments for credibility. For disabled retirees, the mortality assumption was changed to reflect 90 percent of the RP -2014 Disabled Retiree Mortality Table. 65 December 4, 2018 - Page 390 0 66 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 9: DEFINED BENEFIT PENSION PLAN (continued) Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (continued) The long-term expected rate of return on plan investments was determined using a log- normal distribution analysis in which best estimate ranges of expected future real rates of return (expected return, net of investment expense and inflation) were developed for each major asset class. These ranges were combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and then adding expected inflation. As of the November 18, 2016 adoption of the current long-term expected rate of return was presented to the PERA Board, the target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: Asset Class U.S. Equity - Large Cap U.S. Equity - Small Cap Non U.S. Equity - Developed Non U.S. Equity - Emerging Core Fixed Income High Yield Non U.S. Fixed Income - Developed Emerging Market Debt Core Real Estate Opportunity Fund Private Equity Cash Total 30 Year Expected Geometric Target Real Rate of Allocation Return 21.20% 7.42% 18.55% 5.83% 19.32% 1.38% 1.84% 0.46% 8.50% 6.00% 8.50% 1.00% 100.00% 4.30% 4.80% 5.20% 5.40% 1.20% 4.30% 0.60% 3.90% 4.90% 3.80% 6.60% 0.20% In setting the long-term expected rate of return, projections employed to model future returns provide a range of expected long-term returns that, including expected inflation, ultimately support a long-term expected rate of return assumption of 7.25%. December 4, 2018 - Page 391 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 9: DEFINED BENEFIT PENSION PLAN (continued) Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (continued) Discount Rate —The discount rate used to measure the total pension liability was 5.26%. The projection of cash flows used to determine the discount rate assumed that employee contributions will be made at the current contribution rate and the employer contributions will be made at the rates specified in State statutes, which currently require annual increases, to a total of 20.15% of covered salaries for the year ended December 31, 2018. When the actuarially determined funding ratio reaches 103 percent, the employer contribution rate will decrease .5% each year, to a minimum of 10.15%. Based on the assumptions described previously, the SDTF's fiduciary net position was projected to be depleted in 2041 and, as a result, the municipal bond index rate, defined as the December average of the Bond Buyer General Obligation 20 year Municipal Bond Index, was used in the determination of the discount rate. The long-term expected rate of return of 7.25% on plan investments was applied to all periods through 2041, and the municipal bond index rate was applied to periods after 2041 to develop the discount rate. On the measurement date of December 31, 2016, the municipal bond index rate was 3.86%, resulting in a discount rate of 5.26%. The discount rate at the prior measurement date was 7.5%. Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following presents the district's proportionate share of the net pension liability calculated using the discount rate of 5.26%, as well as the district's proportionate share of the net pension liability if it were calculated using a discount that is one percentage point lower (4.26%) or one percentage point higher (6.26%) than the current rate, as follows: 1 % Decrease (4.26%) Current Discount Rate (5.26%) 1% Increase (6.26%) Proportionate share of the net Pension Liability $ 321,127,710 $ 255,376,474 $ 201,824,473 Pension P/an Fiduciary Net Position — Detailed information about the SDTF's fiduciary net position is available in PERA's separately issued financial report, which may be obtained at www.copera.org/investments/pera-financial-reports. NOTE 10: POSTEMPLOYMENT HEALTHCARE BENEFITS P/an Description - The district contributes to the Health Care Trust Fund (HCTF), a cost- sharing multiple -employer post -employment healthcare plan administered by PERA. The HCTF provides a health care premium subsidy to PERA-participating benefit recipients and their eligible beneficiaries. Title 24, Article 51, Part 12 of the CRS, as amended, assigns the authority to establish the HCTF benefit provisions to the State Legislature. PERA issues a publicly available annual financial report that includes financial statements and required supplementary information for the HTCF. That report may be obtained as described previously. December 4, 2018 - Page 392 0 Notes to Financial Statements Basic Financial Statements 67 68 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO FINANCIAL STATEMENTS June 30, 2017 NOTE 10: POSTEMPLOYMENT HEALTHCARE BENEFITS (continued) Funding Policy - The district is required to contribute at a rate of 1.02% of covered salaries for all PERA participants. No employee contributions are required. The contribution requirements for the district are established under Title 24, Article 51, Part 4 of the CRS, as amended. The apportionment of the contributions to the HCTF is established under Title 24, Article 51, Section 208 of the CRS, as amended. The district's apportionment to the HCTF for the years ended June 30, 2017, 2016, and 2015 was $430,454, $390,919 and $383,924 respectively, equal to the required amounts for each year. NOTE 11: COMMITMENTS AND CONTINGENCIES Claims and Judgments The district participates in a number of federal and state programs that are fully or partially funded by grants received from other governmental units. Expenditures financed by grants are subject to audit by the appropriate grantor government. If expenditures are disallowed due to noncompliance with grant program regulations, the district may be required to reimburse the grantor government. At June 30, 2017 significant amounts of grant expenditures have not been audited by the grantor agency, but the district believes that disallowed expenditures, if any, based on subsequent audits will not have a material effect on the overall financial position of the district. Litigation The district is a defendant in various pending or threatened litigation. However, the outcome of the litigation cannot be determined at this time. Tabor Amendment In November 1992, Colorado voters passed Article X, Section 20 (the "Amendment") to the State Constitution which limits state and local government taxing powers and imposes spending limitations. The district is subject to the Amendment. In November 2000, voters within the district authorized the district to collect, retain, and spend the full revenues received by the district from any source effective July 1, 2000, and continuing thereafter as exemptions to the limits which would otherwise apply under the Amendment. The Amendment is subject to many interpretations, but the district believes it is in substantial compliance with the Amendment. The Amendment requires the district to establish a reserve for emergencies representing 3% of qualifying expenditures. At June 30, 2017, fund balance of $2,375,000 was restricted in the General Fund to satisfy the reserve requirement. December 4, 2018 - Page 393 0 EAGLE COUNTY SCHOOLS REQUIRED SUPPLEMENTARY INFORMATION 69 December 4, 2018 - Page 394 0 Required Supplementary Information Schedule of Proportionate Share off the Net Pension Liability 70 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY AND CONTRIBUTIONS PUBLIC EMPLOYEES' RETIREMENT ASSOCIATION OF COLORADO SCHOOL DIVISION TRUST FUND June 30, 2017 PROPORTIONATE SHARE OF THE NET PENSION LIABILITY District's Proportion of the Net Pension Liability District's Proportionate Share of the Net Pension Liability District's Covered Payroll District's Proportionate Share of the Net Pension Liability as a Percentage of Covered Payroll Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 12/31/2016 12/31/2015 12/31/2014 12/31/2013 0.8577202083% 0.8677470924% 0.8680262317% 0.8568952317% $ 255,376,474 $ 132,715,791 $ 117,646,711 $ 109,296,755 $ 38,496,189 $ 37,816,183 $ 36,364,064 $ 34,544,173 663% 351% 324% 316% 43% 59% 63% 64% 6/30/2017 6/30/2016 6/30/2015 6/30/2014 DISTRICT CONTRIBUTIONS Statutorily Required Contribution $ 7,765,788 $ 6,795,954 $ 6,353,040 $ 5,667,716 Contributions in Relation to the Statutorily Required Contribution (7,765,788) (6,795,954) (6,353,040) (5,667,716) Contribution Deficiency (Excess) $ $ - $ $ District's Covered Payroll $ 42,201,383 $ 38,325,382 $ 37,639,638 $ 35,481,967 Contributions as a Percentage of Covered Employee Payroll 18.40% 17.73% 16.88% 15.97% This schedule is presented to show information for 10 years. Until information for the full 10 -year period is available, information will be presented for the years it is available. See the accompanying Independent Auditors' Report. December 4, 2018 - Page 395 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS BUDGETARY COMPARISON SCHEDULE GENERAL FUND Year Ended June 30, 2017 ORIGINAL FINAL BUDGET BUDGET ACTUAL VARIANCE Positive (Negative) REVENUES Local Sources Property Taxes $ 40,563,185 $ 47,955,358 $ 48,221,931 $ 266,573 Specific Ownership Taxes 2,972,250 3,113,001 3,086,534 (26,467) Delinquent Taxes, Penalties and Interest 67,639 67,639 Tuition and Fees 780,957 867,717 941,182 73,465 Pupil Activities 656,300 680,290 781,864 101,574 Charter School Services 445,000 495,771 526,470 30,699 Investment Income 25,000 125,000 153,394 28,394 Other 1,163,583 921,947 1,136,521 214,574 Total Local Sources 46,606,275 54,159,084 54,915,535 756,451 State Sources State Equalization Special Education English Language Proficiency Act (ELPA) Other Total State Sources Federal Sources Grants TOTAL REVENUES 16,695,159 1,130, 000 880,155 480,197 17,204,481 1,159, 703 327,890 436,620 19,185, 511 19,128, 694 515,286 17, 268, 541 1,446,132 799,153 496,581 64,060 286,429 471,263 59,961 20,010,407 881,713 536,267 536,267 66,307,072 73,824,045 75,462, 209 1,638,164 EXPENDITURES Salaries 37,766,411 41,730,742 40,749,499 981,243 Employee Benefits 13,364,427 14,521,127 14,601,371 (80,244) Purchased Services 5,812,710 6,204,054 5,721,408 482,646 Supplies and Materials 4,430,321 5,452,225 4,310,492 1,141,733 Property 158,020 174,337 138,672 35,665 Other 746,895 768,687 962,959 (194,272) Charter School 3,030,640 3,432,845 3,358,168 74,677 TOTAL EXPENDITURES 65,309,424 72,284,017 69,842,569 2,441,448 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES 997,648 1,540,028 5,619,640 4,079,612 OTHER FINANCING SOURCES (USES) Transfers Out (1,510,000) (2,466,746) (2,486,746) (20,000) NET CHANGE IN FUND BALANCE (512,352) (926,718) 3,132,894 4,059,612 FUND BALANCE, Beginning 11,020,810 12,014,038 12,014,038 - FUND BALANCE, Ending $ 10,508,458 $ 11,087,320 $ 15,146,932 $ 4,059,612 See the accompanying Independent Auditors' Report. Required Supplementary Information Budgetary Comparison Schedule — General Fund 71 December 4, 2018 - Page 396 0 72 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO REQUIRED SUPPLEMENTARY INFORMATION June 30, 2017 NOTE 1: SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY AND CONTRIBUTIONS The Public Employees' Retirement Association of Colorado School Division Trust Fund's net pension liability and associated amounts are measured annually at December 31, based on an actuarial valuation as of the previous December 31. The District's contributions and related ratios represent cash contributions and any related accruals that coincide with the District's fiscal year ending on June 30. Changes in Assumptions and Other Inputs For the year ended June 30, 2017, the total pension liability was determined by an actuarial valuation as of December 31, 2015. In addition, the following revised economic and demographic assumptions were effective as of December 31, 2016, and were reflected in the roll -forward procedures to determine the total pension liability at December 31, 2016. • Investment rate of return assumption decreased from 7.5% per year, compounded annually, net of investment expenses, to 7.25%. • Price inflation assumption decreased from 2.8% per year to 2.4%. • Real rate of investment return assumption increased from 4.7% per year, net of investment expenses, to 4.85%. • Wage inflation assumption decreased from 3.9% per year to 3.5%. • Healthy and disables mortality assumptions are based on the RP -2014 Mortality Tables, updated from the RP -2000 Mortality Tables. NOTE 2: STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY Budgets The district follows the following procedures in establishing the budgetary data reflected in the financial statements: • In March, the superintendent submits to the board of education a preliminary proposed budget for the period commencing the following July 1. The budget includes proposed expenditures and the means of financing them. • Public hearings are conducted at regular board of education meetings to obtain taxpayer comments. • In June, the budget is legally adopted by the board of education. • In December, a revised budget is legally adopted by the board of education. December 4, 2018 - Page 397 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO REQUIRED SUPPLEMENTARY INFORMATION June 30, 2017 NOTE 2: STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY (Continued) Budgets (continued) Colorado Budget Law requires that all funds have legally adopted budgets and appropriations. Budgets for all funds are adopted on a basis consistent with generally accepted accounting principles ("GAAP"). Total expenditures for each fund may not exceed the amount appropriated. Appropriations for a fund may be increased provided they are offset by unanticipated revenue. All appropriations lapse at the end of each fiscal year. Authorization to transfer budget amounts between programs and/or departments within any fund and the reallocation of budget line items within any program and/or department rests with the superintendent. Revisions and/or supplemental appropriations that alter the total expenditures of any fund must be approved by the board of education. Legal Compliance For the year ended June 30, 2017, expenditures of the Transportation Fund exceeded the amount budgets by $328,437. This may be a violation of the Budget Law. 73 December 4, 2018 - Page 398 0 EAGLE COUNTY SCHOOLS Supplementary Information Combining and Individual Fund Financial Statements and Schedules December 4, 2018 - Page 399 0 EAGLE COUNTY SCHOOLS ASSETS Cash and Investments Restricted Cash and Investments Accounts Receivable Taxes Receivable Grants Receivable Inventories TOTAL ASSETS LIABILITIES Accrued Liabilities Accrued Salaries and Benefits Unearned Revenues TOTAL LIABILITIES DEFERRED INFLOWS OF RESOURCES Property Taxes FUND BALANCES Nonspendable Inventories Restricted for Capital Outlay Assigned to Capital Outlay Assigned to Transportation Assigned to Nutrition Services TOTAL FUND BALANCES $ $ $ TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES $ NONMAJOR GOVERNMENTAL FUNDS June 30, 2017 NUTRITION SERVICES 370,619 $ 2,356 36,663 84,545 494,183 $ 25,341 25,341 84,545 384,297 468,842 494,183 $ GOVERNMENT DESIGNATED - PURPOSE GRANTS CAPITAL RESERVE TRANSPORTATION 383,047 $ 260,008 643,055 $ - $ 312,222 330,833 643,055 643,055 $ 1,219,643 $ 448,311 1,667,954 $ 448,311 1,219,643 1,667,954 1,667,954 $ See the accompanying Independent Auditors' Report. 28,228 $ 31,376 43,590 103,194 $ 88,565 $ 88,565 9,295 5,334 5,334 103,194 $ TOTAL 2,001,537 448,311 33,732 43,590 296,671 84,545 2,908,386 88,565 337,563 330,833 756,961 9,295 84,545 448,311 1,219,643 5,334 384,297 2,142,130 2,908,386 Combining Balance Sheet Supplementary Information December 4, 2018 - Page 400 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS Year Ended June 30, 2017 GOVERNMENT DESIGNATED - NUTRITION PURPOSE CAPITAL SERVICES GRANTS RESERVE TRANSPORTATION TOTAL REVENUES Local Sources $ 649,555 $ 443,250 $ 46,580 $ 1,790,189 $ 2,929,574 State Sources 38,517 271,802 - 436,461 746,780 Federal Sources 1,239,781 2,774,071 - - 4,013,852 TOTAL REVENUES 1,927,853 3,489,123 46,580 2,226,650 7,690,206 EXPENDITURES Current Instruction - 2,233,525 - 2,233,525 Supporting Services 1,964,650 1,255,598 - 3,003,104 6,223,352 Capital Outlay - - 1,011,441 - 1,011,441 TOTAL EXPENDITURES 1,964,650 3,489,123 1,011,441 3,003,104 9,468,318 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (36,797) (964,861) (776,454) (1,778,112) OTHER FINANCING SOURCES (USES) Transfers In 93,865 1,669,740 723,141 2,486,746 Transfers Out - (841,879) - (841,879) TOTAL OTHER FINANCIAL SOURCES (USES) 93,865 827,861 723,141 1,644,867 NET CHANGE IN FUND BALANCES 57,068 (137,000) (53,313) (133,245) FUND BALANCES, Beginning 411,774 1,804,954 58,647 2,275,375 FUND BALANCES, Ending $ 468,842 $ - $ 1,667,954 $ 5,334 $ 2,142,130 See the accompanying Independent Auditors' Report. 76 December 4, 2018 - Page 401 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS BUDGETARY COMPARISON SCHEDULE NUTRITION SERVICES FUND Year Ended June 30, 2017 VARIANCE ORIGINAL FINAL Positive BUDGET BUDGET ACTUAL (Negative) REVENUES Charges for Services Student Lunches $ 563,434 $ 653,434 $ 649,555 $ (3,879) State Sources 50,500 50,500 38,517 (11,983) Federal Sources Donated Commodities 90,000 90,000 146,340 56,340 National School Lunch Program 960,000 982,800 927,146 (55,654) School Breakfast Program 130,000 130,000 129,632 (368) Summer Food Service Program 22,800 36,663 13,863 TOTAL REVENUES 1,793,934 1,929,534 1,927,853 (1,681) EXPENDITURES Salaries Employee Benefits Purchased Services Donated Commodities Supplies and Materials Other TOTAL EXPENDITURES 752,584 282,352 12,000 90,000 703,600 24,600 823,885 304,916 12,300 90,000 721,565 42,500 1,865,136 1,995,166 820,741 342,091 6,380 146,340 625,519 23,579 3,144 (37,175) 5,920 (56, 340) 96,046 18,921 1,964,650 30,516 OTHER FINANCING SOURCES Transfers In 93,865 93,865 NET CHANGE IN FUND BALANCE (71,202) 28,233 57,068 28,835 FUND BALANCE, Beginning 250,212 411,774 411,774 FUND BALANCE, Ending $ 179,010 $ 440,007 $ 468,842 $ 28,835 See the accompanying Independent Auditors' Report. 77 December 4, 2018 - Page 402 0 EAGLE COUNTY SCHOOLS REVENUES Local Grants State Grants Federal Grants TOTAL REVENUES EAGLE COUNTY SCHOOLS BUDGETARY COMPARISON SCHEDULE GOVERNMENT DESIGNATED -PURPOSE GRANTS FUND Year Ended June 30, 2017 VARIANCE ORIGINAL FINAL Positive BUDGET BUDGET ACTUAL (Negative) $ 1,378,980 $ 1,378,980 $ 443,250 $ (935,730) 54,700 54,700 271,802 217,102 2,598,797 2,598,797 2,774,071 175,274 4,032,477 4,032,477 3,489,123 (543,354) EXPENDITURES Salaries 1,906,392 2,177,311 1,996,268 181,043 Employee Benefits 555,446 724,099 580,657 143,442 Purchased Services 730,882 510,935 390,604 120,331 Supplies and Materials 839,757 470,132 216,578 253,554 Other 139,160 (139,160) Indirect Costs 150,000 165,856 (15,856) TOTAL EXPENDITURES NET CHANGE IN FUND BALANCE FUND BALANCE, Beginning FUND BALANCE, Ending $ 4,032,477 4,032,477 3,489,123 543,354 See the accompanying Independent Auditors' Report. 78 $ December 4, 2018 - Page 403 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS BUDGETARY COMPARISON SCHEDULE TRANSPORTATION FUND Year Ended June 30, 2017 VARIANCE ORIGINAL FINAL Positive BUDGET BUDGET ACTUAL (Negative) REVENUES Local Sources Property Taxes $ 1,000,000 $ 1,000,000 $ 1,008,432 $ 8,432 Specific Ownership Taxes 50,000 50,000 50,358 358 Charges for Services 630,000 630,000 731,399 101,399 State Sources Transportation Funding 440,070 440,070 436,461 (3,609) TOTAL REVENUES 2,120,070 2,120,070 2,226,650 106,580 EXPENDITURES Operations and Maintenance 45,100 45,100 Transportation 2,518,520 2,518,520 Training Services 80,010 111,047 TOTAL EXPENDITURES 2,643,630 2,674,667 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES Transfers In NET CHANGE IN FUND BALANCE FUND BALANCE, Beginning FUND BALANCE, Ending 35,554 2,876,057 91,493 9,546 (357,537) 19,554 3,003,104 (328,437) (523,560) (554,597) (776,454) (221,857) 510,000 703,141 723,141 20,000 (13,560) 148,544 22,803 (53,313) (201,857) 58,647 58,647 9,243 $ 207,191 $ 5,334 $ (201,857) See the accompanying Independent Auditors' Report. 79 December 4, 2018 - Page 404 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS BUDGETARY COMPARISON SCHEDULE BOND REDEMPTION FUND Year Ended June 30, 2017 VARIANCE ORIGINAL FINAL Positive BUDGET BUDGET ACTUAL (Negative) REVENUES Local Sources Property Taxes $ 14,501,514 $ 20,032,969 $ 20,032,037 $ (932) Delinquent Taxes, Penalties and Interest - - 25,235 25,235 TOTAL REVENUES 14,501,514 20,032,969 20,057,272 24,303 EXPENDITURES Debt Service Principal 8,800,000 8,800,000 8,800,000 - Interest and Fiscal Charges 5,335,338 10,890,793 7,273,400 3,617,393 TOTAL EXPENDITURES 14,135,338 19,690,793 16,073,400 3,617,393 NET CHANGE IN FUND BALANCE FUND BALANCE, Beginning FUND BALANCE, Ending 366,176 342,176 12, 006, 757 3,983,872 3,641,696 12, 202,188 12, 202,188 $ 12,372,933 $ 12,544,364 $ 16,186,060 $ 3,641,696 See the accompanying Independent Auditors' Report. 80 December 4, 2018 - Page 405 0 EAGLE COUNTY SCHOOLS REVENUES Local Sources Investment Income Other Federal Sources Build America Bonds Interest Subsidy TOTAL REVENUES EAGLE COUNTY SCHOOLS BUDGETARY COMPARISON SCHEDULE BUILDING FUND Year Ended June 30, 2017 $ FINAL BUDGET 61,073 61,073 ACTUAL VARIANCE Positive (Negative) $ 555,574 $ 555,574 32,898 32,898 61,073 649,545 588,472 EXPENDITURES Capital Outlay 26,000,000 16,017,548 9,982,452 Debt Service Principal - 200,000 (200,000) Interest and Fiscal Charges 468,921 207,538 261,383 Debt Issuance Costs - 987,761 (987,761) TOTAL EXPENDITURES 26,468,921 17,412,847 9,056,074 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (26,407,848) (16,763,302) 9,644,546 OTHER FINANCING SOURCES (USES) Debt Issued 127,880,000 131,770,000 3,890,000 Debt Premium 21,074,578 22,332,115 1,257,537 Payment to Escrow Agent (8,498,395) (8,462,505) 35,890 Transfers In - 841,879 841,879 NET CHANGE IN FUND BALANCE 140,456,183 146,481,489 6,025,306 CHANGE IN FUND BALANCE FUND BALANCE, Beginning FUND BALANCE, Ending 114, 048, 335 129,718,187 15,669,852 $ 114,048,335 $ 129,718,187 $ 15,669,852 See the accompanying Independent Auditors' Report. Supplementary Information Budgetary Comparison Schedule — Building Fund 81 December 4, 2018 - Page 406 0 Supplementary Information Budgetary Comparison Schedule — Capital Reserve Fund 82 EAGLE COUNTY SCHOOLS REVENUES Local Sources Investment Income Other TOTAL REVENUES EXPENDITURES Capital Outlay Debt Service Interest and Fiscal Charges TOTAL EXPENDITURES EAGLE COUNTY SCHOOLS BUDGETARY COMPARISON SCHEDULE CAPITAL RESERVE FUND Year Ended June 30, 2017 VARIANCE ORIGINAL FINAL Positive BUDGET BUDGET ACTUAL (Negative) $ - $ - $ 2,498 $ 2,498 173,220 33,260 44,082 10,822 173,220 33,260 534,912 2,007,954 607,028 1,141, 940 2,007,954 46,580 13,320 1,011,441 996,513 1,011,441 996,513 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES (968,720) (1,974,694) (964,861) 1,009,833 OTHER FINANCING SOURCES (USES) Transfers In 1,000,000 1,669,740 1,669,740 Transfers Out - - (841,879) (841,879) TOTAL OTHER FINANCING SOURCES (USES) 1,000,000 1,669,740 827,861 (841,879) NET CHANGE IN FUND BALANCE 31,280 (304,954) (137,000) 167,954 FUND BALANCE, Beginning - 1,804,954 1,804,954 - FUND BALANCE, Ending $ 31,280 $ 1,500,000 $ 1,667,954 $ 167,954 See the accompanying Independent Auditors' Report. December 4, 2018 - Page 407 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS BUDGETARY COMPARISON SCHEDULE DISTRICT HOUSING FUND Year Ended June 30, 2017 REVENUES Rental Income TOTAL REVENUES EXPENSES Salaries Employee Benefits Purchased Services Supplies and Materials Depreciation TOTAL EXPENSES INCOME (LOSS) BEFORE TRANSFERS NET POSITION, Beginning NET POSITION, Ending ORIGINAL BUDGET $ 132,650 $ 132,650 28,950 10,150 76,000 34,000 28,000 177,100 (44,450) 818,146 $ 773,696 $ FINAL BUDGET ACTUAL VARIANCE Positive (Negative) 132,650 $ 127,184 $ (5,466) 132,650 28,950 10,150 76,000 34,000 28,000 177,100 (44,450) 852,716 127,184 24,087 8,481 49,188 30,128 13,648 125,532 1,652 852,716 (5,466) 4,863 1,669 26,812 3,872 14,352 51,568 46,102 808,266 $ 854,368 $ 46,102 See the accompanying Independent Auditors' Report. Supplementary Information Budgetary Comparison Schedule — District Housing Fund 83 December 4, 2018 - Page 408 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUND STUDENT ACTIVITY Year Ended June 30, 2017 BALANCES BALANCES 6/30/2016 ADDITIONS DEDUCTIONS 6/30/2017 ASSETS Cash and Investments $ 1,189,666 $ 902,938 $ 801,707 $ 1,290,897 Accounts Receivable 4,401 356 4,401 356 TOTAL ASSETS $ 1,194,067 $ 903,294 $ 806,108 $ 1,291,253 LIABILITIES Due to Student Groups $ 1,194,067 $ 903,294 $ 806,108 $ 1,291,253 See the accompanying Independent Auditors' Report. 84 December 4, 2018 - Page 409 0 EAGLE COUNTY SCHOOLS STATISTICAL SECTION December 4, 2018 - Page 410 0 EAGLE COUNTY SCHOOLS December 4, 2018 - Page 411 0 EAGLE COUNTY SCHOOLS This section of the District's comprehensive annual financial report presents detailed information to provide readers of the financial statements, note disclosures, and required supplementary schedules an additional understanding with regard to the District's overall financial health. Contents: Financial Trends The schedules contain trend information to help the reader understand how the District's financial performance and well being have changed over time 88-97 Revenue Capacity The schedules contain information to help the reader assess the District's most significant local and state revenue sources 98-103 Debt Capacity The schedules present information to help the reader assess the affordability of the District's current levels of outstanding debt and the District's ability to issue additional debt in the future 104-108 Demographic and Economic Information The schedules offer demographic and economic indicators to help the reader understand the environment with which the District's financial activities take place 109-110 Operating Information The schedules contain information to help the reader understand the staffing of the District, student population it serves, and capital asset data 111-115 Statistical Section 87 December 4, 2018 - Page 412 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Net Position by Component Last Ten Fiscal Years 2008 2009 2010 2011 2012 Governmental activities Net Investment in Capital Assets $ 25,396,437 $ 31,051,569 $ 21,142,826 $ 15,745,542 $ 9,797,454 Restricted 11,561,732 11,680,649 13,211,059 14,456,158 14,558,291 Unrestricted 9,642,870 5,558,406 10,972,742 8,758,457 10,531,879 Total governmental activites net position $ 46,601,039 $ 48,290,624 $ 45,326,627 $ 38,960,157 $ 34,887,624 Business -type activities Net Investment in Capital Assets $ 301,072 $ 809,505 $ 797,478 $ 737,996 $ 746,240 Restricted Unrestricted 169,996 213,221 186,355 222,520 332,518 Total business -type activites net position $ 471,068 $ 1,022,726 $ 983,833 $ 960,516 $ 1,078,758 Primary government Net Investment in Capital Assets $ 25,697,509 $ 31,861,074 $ 21,940,304 $ 16,483,538 $ 10,543,694 Restricted 11,561,732 11,680,649 13,211,059 14,456,158 14,558,291 Unrestricted 9,812,866 5,771,627 11,159,097 8,980,977 10,864,397 Total primary government net position $ 47,072,107 $ 49,313,350 $ 46,310,460 $ 39,920,673 $ 35,966,382 Source: Eagle County Schools Finance Department 88 December 4, 2018 - Page 413 0 EAGLE COUNTY SCHOOLS TABLE 1 2013 2014 2015 2016 2017 $ 7,734,444 14,285,280 12,025,450 $ 34,045,174 $ 7,874,116 14,083,361 11, 840, 786 $ 33,798,263 $ 10,026,377 $ 12,272,934 $ 14,276,986 15, 525, 828 16, 058, 646 19, 629, 943 (100,488,719) (107,149,147) (145,103,309) $ (74,936,514) $ (78,817,567) $ (111,196,380) $ 814,385 $ 492,230 $ 98,584 $ 84,936 $ 71,288 569,367 548,059 757,762 767,780 783,080 $ 1,383,752 $ 1,040,289 $ 856,346 $ 852,716 $ 854,368 $ 8,548,829 14,285,280 12,594,817 $ 35,428,926 $ 8,366,346 14,083,361 12,388,845 $ 34,838,552 $ 10,124,961 $ 12,357,870 $ 14,348,274 15, 525, 828 16, 058, 646 19, 629, 943 (99,730,957) (106,381,367) (144,320,229) $ (74,080,168) $ (77,964,851) $ (110,342,012) 89 December 4, 2018 - Page 414 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Changes in Net Position Last Ten Fiscal Years 2008 2009 2010 2011 2012 Expenses Governmental activities: Current: Instruction $ 31,779,754 $ 38,245,670 $ 42,826,781 $ 42,246,912 $ 41,816,115 Supporting services 24,363,714 24,101,064 30,830,181 32,347,124 30,191,463 Interest on long term debt 8,984,827 7,217,294 7,434,997 7,897,727 7,738,412 Total governmental activities 65,128,295 69,564,028 81,091,959 82,491,763 79,745,990 Business -type activities Food service Employee housing Total business -type activities Total primary government expenses 1,541,759 1,602,255 1,744,765 1,747,459 1,632,902 90,506 126,281 133,348 102,054 106,371 1,632,265 1,728,536 1,878,113 1,849, 513 1,739,273 $ 66,760,560 $ 71,292,564 $ 82,970,072 $ 84,341,276 $ 81,485,263 Program revenues Governmental activities: Charges for service $ 868,357 $ 1,032,204 $ 1,242,220 $ 1,391,453 $ 1,530,516 Operating grants and contributions 3,935,164 5,197,724 6,552,789 6,558,755 5,971,961 Capital grants and contributions - - - - Total governmental activities program revenues 4,803,521 6,229,928 7,795,009 7,950,208 7,502,477 Business -type activities: Charges for service Food service District housing Operating grants and contributions Capital grants and contributions Total business -type activities program revenues Total primary government program revenues Net (Expense) / Revenue Governmental activities Business -type activities Total primary government net expense 927,920 839,829 732,889 677,260 130,603 138,159 145,787 155,611 595,868 735,171 906,166 953,325 - 500,000 - - 725,109 155,962 976,444 1,654,391 2,213,159 1,784,842 1,786,196 1,857,515 $ 6,457,912 $ 8,443,087 $ 9,579,851 $ 9,736,404 $ 9,359,992 $ (60,324,774) $ (63,334,100) $ (73,296,950) $ (74,541,555) $ (72,243,513) 22,126 484,623 (93,271) (63,317) 118,242 $ (60,302,648) $ (62,849,477) $ (73,390,221) $ (74,604,872) $ (72,125,271) "The District adopted GASB No. 65 in fiscal year 2013. As required by the Colorado Department of Education, the district recognized the Nutrition Services Fund (previously reported as a business -type activity) as a Special Revenue fund and Governmental activity as of July 1, 2014. The district adopted GASB No. 68 in fiscal year 2015, which required the recognition of net pension liability and certain deferred inflows of resources and outlfows of resources as of July 1, 2014. 90 December 4, 2018 - Page 415 c EAGLE COUNTY SCHOOLS TABLE 2 2013 2014 2015 2016 2017 $ 41,032,263 $ 43,222,676 $ 46,693,195 $ 51,406,006 $ 80,062,490 26,224,131 29,610,047 35,801,713 35,404,876 48,123,875 7,293,570 6,099,948 5,777,879 5,271,362 7,658,076 74,549,964 78,932,671 88,272,787 92,082,244 135,844,441 1,636,314 - - - - 131,311 116,806 149,839 129,249 125,532 1,767,625 116,806 149,839 129,249 125,532 $ 76,317,589 $ 79,049,477 $ 88,422,626 $ 92,211,493 $ 135,969,973 $ 1,921,745 $ 2,931,853 $ 3,305,847 $ 3,537,130 $ 3,840,408 5,696,852 8,055,594 8,543,336 8,580,035 7,945,748 - 121,681 125,425 122,277 61,073 7,618, 597 11,109,128 11,974,608 12,239,442 11,847,229 835,578 - - - - 139,482 139,660 135,233 125,619 127,184 1,047,599 - - - - 2,022,659 139,660 135,233 125,619 127,184 $ 9,641,256 $ 11,248,788 $ 12,109,841 $ 12,365,061 $ 11,974,413 $ (66,931,367) $ (67,823,543) $ (76,298,179) $ (79,842,802) $ (123,997,212) 255,034 22,854 (14,606) (3,630) 1,652 $ (66,676,333) $ (67,800,689) $ (76,312,785) $ (79,846,432) $ (123,995,560) Financial Trends Changes in Net Position December 4, 2018 - Page 416 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Changes in Net Position - Continued Last Ten Fiscal Years 2008 2009 2010 2011 2012 General Revenues and Other Changes in Net Position Governmental activities: Taxes Local property taxes $ 56,017,342 $ 55,843,506 $ 62,493,060 $ 62,448,639 $ 54,203,228 Specific ownership taxes 3,025,835 2,679,333 2,310,004 2,098,497 2,065,651 State equalization 892,042 4,385,923 3,662,810 355,434 9,704,283 Grants not restricted to specific programs 241,924 217,871 - 1,674,514 300,292 Investment income 5,045,414 1,968,306 553,378 373,872 28,650 Other - (4,214) 1,368,079 1,264,129 1,076,228 Transfers (280,077) (67,038) (54,379) (40,000) - Total govenmental activities 64,942,480 65,023,687 70,332,952 68,175,085 67,378,332 Business -type activities: Other - Transfers - 67,038 54,379 40,000 - Total business -type activities - 67,038 54,379 40,000 - Total primary government $ 64,942,480 $ 65,090,725 $ 70,387,331 $ 68,215,085 $ 67,378,332 Change in Net Position Governmental activities Business -type activities Total primary government $ 4,617,706 $ 1,689,587 $ (2,963,998) $ (6,366,470) $ (4,865,181) 22,126 551,661 (38,892) (23,317) 118,242 $ 4,639,832 $ 2,241,248 $ (3,002,890) $ (6,389,787) $ (4,746,939) Source: Eagle County Schools Finance Department *The District adopted GASB No. 65 in fiscal year 2013. As required by the Colorado Department of Education, the district recognized the Nutrition Services Fund (previously reported as a business -type activity) as a Special Revenue fund and Governmental activity as of July 1, 2014. The district adopted GASB No. 68 in fiscal year 2015, which required the recognition of net pension liability and certain deferred inflows of resources and outlfows of resources as of July 1, 2014. 92 December 4, 2018 - Page 417 0 EAGLE COUNTY SCHOOLS TABLE 2 2013 2014 2015 2016 2017 $ 53,498,964 $ 50,150,229 $ 51,257,231 $ 55,590,666 $ 68,961,670 2,204,151 2,386,297 2,761,851 2,736,271 3,136,892 10,273,931 13,311,387 17,470,913 15,850,394 17,268,541 125,491 479,744 504,550 536,267 37,537 21,489 20,148 52,248 711,466 1,097,715 1,340,913 1,342,711 1,227,620 1,003,563 (50,000) 170,000 67,187,789 67,210,315 73,502,598 75,961,749 91,618,399 - 663 50,000 (170,000) 50,000 (169,337) $ 67,237,789 $ 67,210,315 $ 73,333,261 $ 75,961,749 $ 91,618,399 $ 256,422 $ (613,228) $ (2,795,581) $ (3,881,053) $ (32,378,813) 304,994 22,854 (183,943) (3,630) 1,652 $ 561,416 $ (590,374) $ (2,979,524) $ (3,884,683) $ (32,377,161) Financial Trends Changes in Net Position 93 December 4, 2018 - Page 418 0 Financial Trends Fund Balances Governmental Funds 94 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) 2008 2009 2010 2011 2012 General Fund Reserved $ 1,292,800 $ 1,508,000 $ 1,870,000 $ - $ Unreserved 14,765,119 12,040,672 10,996,103 - - Restricted - - 1,667,000 2,001,848 Unrestricted, Unassigned 9,529,733 8,510,074 Total General Fund $ 16,057,919 $ 13,548,672 $ 12,866,103 $ 11,196,733 $ 10,511,922 All Other Governmental Funds Reserved $ 95,954,849 $ 32,983,779 $ - $ - $ - Nonspendable Inventories - - - - Unreserved, reported in: Special revenue funds - Debt service fund - 10,777,163 Capital projects funds 1,938,841 305,766 10,250,949 - Restricted For: Debt Service - - 11,323,445 12,733,092 Capital Projects - 12,056,033 3,002,273 Multi -Year Contracts Emergencies Assigned To: Capital Outlay - - 150,573 121,908 Transportation - - 64,538 17,184 Nutrition Services Unrestricted, Unassigned (446,926) (55,287) Total all other governmental funds $ 97,893,690 $ 33,289,545 $ 21,028,112 $ 23,147,663 $ 15,819,170 Source: Eagle County Schools Finance Department As required by the Colorado Department of Education, the district recognized the Nutrition Services Fund (previously reported as a business -type activity) as a Special Revenue fund and Governmental activity as of July 1, 2014. As of June 30, 2017, the General Fund reflects an ending fund balance of $15,146,932, an increase of $3,132,894 from the prior year. The increase is the result of planned mill levy carryover of $1,876,142 and allowable school carryover of $1.2 million. December 4, 2018 - Page 419 0 EAGLE COUNTY SCHOOLS TABLE 3 2013 2014 2015 2016 2017 1,775,000 2,458,250 3,173,802 3,243,628 4,251,142 8,936,902 8,630,252 8,789,128 8,770,410 10,895,793 $ 10,711,902 $ 11,088,502 $ 11,962,930 $ 12,014,038 $ 15,146,935 $ - 47,288 65,421 84,545 12,633,775 2,334,556 11,948,469 667,495 12,654,217 444,176 13,041,918 445,813 1,183,628 16,186,060 130,166,498 1,082,731 1,979,974 615,766 519,411 1,219,643 17,163 43,150 56,298 58,647 5,334 247,503 249,870 346,353 384,297 (299,579) (172,081) (66,483) - $ 15,768,646 $ 14,714,510 $ 14,001,132 $ 15,661,191 $ 148,046,377 Financial Trends Fund Balances Governmental Funds 95 December 4, 2018 - Page 420 0 Financial Trends Changes in Fund Balances Governmental Funds 96 EAGLE COUNTY SCHOOLS REVENUES Federal Sources State Sources Local Sources Total revenues EAGLE COUNTY SCHOOLS Changes in Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) 2008 2009 2010 2011 2012 $ 2,178,917 $ 5,928,228 $ 4,250,314 $ 5,567,694 $ 2,986,046 2,378,624 3,459,496 5,785,951 2,354,302 10,495,253 64,607,202 60,953,138 68,468,900 67,950,937 62,447,059 69,164,743 70,340,862 78,505,165 75,872,933 75,928,358 EXPENDITURES Current: Instruction 28,895,819 32,325,020 37,515,839 35,464,796 35,891,461 Supporting Services 20,872,741 23,132,882 25,079,284 27,606,284 26,185,023 Capital outlay 47,522,618 67,181,371 16,037,277 7,733,457 7,213,170 Debt Service: Principal 6,465,000 6,150,000 2,100,000 6,875,000 7,275,000 Interest and Fiscal Charges 8,955,035 8,684,935 7,927,073 8,351,065 8,212,609 Debt Issuance Costs - 120,057 251,792 - Total expenditures 112,711,213 137,474,208 88,779,530 86,282,394 84,777,263 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (43,546,470) (67,133,346) (10,274,365) (10,409,461) (8,848,905) OTHER FINANCING SOURCES (USES) Debt Issued Debt Premium Payment to Escrow Agent Sale of Capital Assets Transfers in Transfers out Total other financing sources (uses) 61,446 19,953 13,800,000 11,520,000 - 1,064,828 215,243 - (19,494,923) - - 1,503,258 941,433 534,352 (1,503,258) (981,433) (534,352) 61,446 19,953 (4,630,095) 11,695,243 NET CHANGE IN FUND BALANCES $(43,485,024) $(67,113,393) $(14,904,460) $ 1,285,782 $ (8,848,905) Debt service as a percentage of noncapital expenditures 23.7% Source: Eagle County Schools Finance Department 21.1% 13.9% As required by the Colorado Department of Education, the district recognized the Nutrition Services Fund (previously reported as a business -type activity) as a Special Revenue fund and Governmental activity as of July 1, 2014. 19.7% 20.0% December 4, 2018 - Page 421 0 EAGLE COUNTY SCHOOLS TABLE 4 2013 2014 2015 2016 2017 $ 1,891,057 $ 4,676,488 $ 4,905,939 $ 4,866,203 $ 4,611,192 11,080,005 15,663,754 20,724,080 19,264,692 20,757,187 61,732,151 58,839,632 59,710,466 63,864,133 78,490,853 74,703,213 79,179,874 85,340,485 87,995,028 103,859,232 34,937,057 36,969,071 39,243,507 41,077,017 45,751,135 23,393,321 26,149,057 29,846,730 30,065,020 32,548,311 647,920 1,287,594 2,526,607 545,518 17,028,989 7,605,000 8,665,000 8,605,000 9,610,000 9,000,000 7,920,459 6,886,340 6,569,885 6,169,934 7,480,938 873,588 - - - 987,761 75,377,345 79,957,062 86,791,729 87,467,489 112,797,134 (674,132) (777,188) (1,451,244) 527,539 (8,937,902) 102,245,000 - - 131,770,000 18,477,919 - - - 22,332,115 (119,849,331) - (8,462,505) - - 255,000 - - 1,238,183 2,320,247 3,877,294 2,566,583 3,328,625 (1,288,183) (2,320,247) (2,520,000) (2,566,583) (3,328,625) 823,588 1,612,294 145,639,610 $ 149,456 $ (777,188) $ 161,050 $ 527,539 $136,701,708 21.9% 19.8% 18.0% 18.0% 17.0% Financial Trends Changes in Fund Balances Governmental Funds December 4, 2018 - Page 422 0 Revenue Capacity Assessed Value and Actual Value of Taxable Property 98 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Assessed Value and Actual Value of Taxable Property Last Ten Fiscal Years (amounts expressed in thousands) Fiscal Year Real Property Personal Property Exemptions of Real Property Ended Assessed Estimated June 30, Value Actual Value 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Assessed Estimated Value Actual Value Assessed Estimated Value Actual Value 3,070,713,070 3,098,324,840 3,512,789,430 3,532,369,970 2,692,812,380 2,691,704,460 2,566,361,210 2,556,149,170 2,931,496,730 2,944,003,260 28,665,521,650 29,762,511,660 34,245,196,420 34,694,499,120 26,668,651,830 26,713,889,900 25,204,000,320 25,252,094,130 29,359,108,450 29,583,561,050 84,770,040 471,309,270 222,567,340 89,144,250 308,228,950 223,818,220 101,651,460 350,522,450 300,211,100 92,521,320 319,038,940 306,005,580 87,942,860 303,249,230 239,377,650 83,138,600 286,684,710 242,758,620 89,975,170 310,258,390 218,295,890 86,011,900 296,591,660 218,850,980 89,128,230 307,339,150 245,741,890 89,423,480 308,356,230 250,953,490 Source: Eagle County Assessor's Office Note: The assessment ratios for all taxable property in the State of Colorado are as follows: Years Residential Commercial 2008 7.96% 29.00% 2009 7.96% 29.00% 2010 7.96% 29.00% 2011 7.96% 29.00% 2012 7.96% 29.00% 2013 7.96% 29.00% 2014 7.96% 29.00% 2015 7.96% 29.00% 2016 7.96% 29.00% 2017 7.20% 29.00% 937,768,360 936,862,780 1,193,813,520 1,216,552,680 958,662,950 978,147,950 878,280,780 880,696,280 995,239,760 1,021,359,410 December 4, 2018 - Page 423 0 EAGLE COUNTY SCHOOLS Total Value Assessed Estimated Value Value TABLE 5 Ratio of Total Assessed Value to Total Estimated Actual Value 3,378,050,450 3,411,287,310 3,914,651,990 3,930,896,870 3,020,132,890 3,017,601,680 2,874,632,270 2,861,012,050 3,266,366,850 3,284,380,230 30,074,599,280 31,007,603,390 35,789,532,390 36,230,090,740 27,930,564,010 27,978,722,560 26,392,539,490 26,429,382,070 30,661,687,360 30,913,276,690 11.23% 11.00% 10.94% 10.85% 10.81% 10.79% 10.89% 10.83% 10.65% 10.62% Revenue Capacity Assessed Value and Actual Value of Taxable Property 99 December 4, 2018 - Page 424 0 Revenue Capacity Direct and Overlapping Property Tax Rates 100 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Direct and Overlapping Property Tax Rates Last Ten Fiscal Years (rate per $1,000 of assessed value) 2008 2009 2010 2011 2012 Eagle County School District General operations 14.586 14.855 14.359 14.382 15.085 General obligation debt service 5.123 5.218 4.736 4.785 6.120 Transportation 0.342 0.341 0.306 0.307 0.396 Total direct property tax rate 20.051 20.414 19.401 19.474 21.601 County Government General Fund Special Revenue Funds Capital Expenditures Fund Debt Service Funds Open Space Fund Total County Miscellaneous County -wide Colorado Mountain Jr. College Colorado River Water Conservancy Total County -wide levies 4.924 4.924 4.924 4.924 4.924 2.014 2.014 2.014 2.014 2.014 0.061 0.061 0.061 0.061 0.061 0.000 0.000 0.000 0.000 0.000 1.500 1.500 1.500 1.500 1.500 8.499 8.499 8.499 8.499 8.499 3.997 3.997 3.997 0.191 0.199 0.000 3.997 0.000 3.997 0.000 12.687 12.695 12.496 12.496 12.496 Municipalities Avon 12.271 11.392 11.208 11.220 11.220 Basalt 5.058 5.181 3.873 4.066 4.066 Eagle 2.683 3.997 3.547 3.659 3.659 Gypsum 5.414 5.094 5.094 5.094 5.094 Minturn 17.934 17.934 17.934 17.934 17.934 Redcliff 38.827 37.820 33.878 33.878 33.878 Vail 4.690 4.979 4.690 4.726 4.726 Fire Protection, Ambulance and Hospital Districts Several, range from high of 10.000 10.000 10.000 10.000 10.000 to low of 2.019 2.055 1.780 1.768 1.768 Water, Sanitation, Library, Metro and Cemetery Districts Several, range from high of 45.000 99.000 67.000 62.000 62.000 to low of 0.000 0.000 0.000 0.000 0.000 Source: Eagle County Assessor's Office Note: The District's property tax rate may be increased only by a majority vote of the District's residents. Rates for debt service are set based on each year's requirements. aoverlapping rates are those of local and county governments that apply to property owners within the boundaries of the Eagle County School District. Not all overlapping rates apply to all Eagle County School District property owners; for example, although the County property tax rate applies to all school district property owners, the Gypsum Fire District rates apply only to the residents of Gypsum whose property is located within that district's geographic boundaries. December 4, 2018 - Page 425 0 EAGLE COUNTY SCHOOLS TABLE 6 2013 2014 2015 2016 2017 15.087 15.030 15.180 14.662 17.541 5.878 5.382 5.961 5.303 7.303 0.397 0.414 0.376 0.366 0.365 21.362 20.826 21.517 20.331 25.209 4.924 2.014 0.061 0.000 1.500 4.924 2.014 0.006 0.000 1.500 4.924 2.014 0.061 0.000 1.500 5.285 1.653 0.061 0.000 1.500 5.285 1.653 0.061 0.000 1.500 8.499 8.499 8.499 8.499 8.499 3.997 0.000 3.997 0.000 3.997 0.000 3.997 0.000 3.997 0.000 12.496 12.496 12.496 12.496 12.496 11.983 6.386 4.064 5.094 17.934 33.878 4.765 10.000 2.023 100.000 0.000 12.258 7.560 4.475 5.094 17.934 33.878 4.706 12.207 9.881 4.499 5.094 17.934 33.878 4.735 10.000 10.000 2.006 2.019 115.000 112.000 0.000 0.000 11.765 9.158 3.661 5.094 17.934 31.409 4.727 8.956 11.591 3.853 5.094 17.934 32.798 4.705 10.000 10.504 2.008 2.755 98.500 98.500 0.000 0.000 Revenue Capacity Direct and Overlapping Property Tax Rates 101 December 4, 2018 - Page 426 0 Revenue Capacity Principal Property Tax Payers 102 EAGLE COUNTY SCHOOLS Taxpayer EAGLE COUNTY SCHOOLS Principal Property Tax Payers 6/30/2017 and 9 Years Ago 2017 2008 TABLE 7 % of Total % of Total County County Taxable Taxable Taxable Taxable Assessed 2017 Assessed Assessed 2016 Assessed Value Rank Valuation Value Rank Valuation Vail Corp $ 68,878,950 1 2.10% $ 69,466,490 1 2.04% Union Pacific Corp 30,723,600 2 0.94% 11,950,300 3 0.35% Vail Associates Inc 26,495,120 3 0.81% 23,521,810 2 0.69% DiamondRock Vail Owner LLC 20,712,770 4 0.63% 15,950,000 4 0.47% Holy Cross Electric Assoc Inc 19,229,400 5 0.59% 13,241,710 6 0.39% Public Service Company of Colorado 18,445,100 6 0.56% 5 0.00% WTCC Beaver Creek Investors LLC 12,559,780 7 0.38% 11,495,150 10 0.34% EX Vail LLC 12,414,290 - 0.38% - 0.00% Ferruco Vail Ventures LLC 11,742,350 8 0.36% 8 0.00% Vail Hotels Partners LLC 11,588,440 - 0.35% - 0.00% Ritz-Carlton Development CO Inc - 9 0.00% 9 0.00% L -O Vail Holding Inc 10 0.00% 10,493,520 - 0.31% Solaris Property Owner LLC - 11 0.00% 7 0.00% Vail Development 09 LLC 12 0.00% 0.00% Total Assessed Valuation $ 232,789,800 7.10% $ 156,118,980 7.79% Source: Eagle County Assessor's Office December 4, 2018 - Page 427 0 EAGLE COUNTY SCHOOLS TABLE 8 EAGLE COUNTY SCHOOLS Property Tax Levies And Collections Last Ten Fiscal Years Fiscal Year Taxes Levied Collected within the Collections Total Collection to Date Ended for the Fiscal Year of the Levy in Subsequent Percentage June 30, Fiscal Year Amount % of Levy Years Amount of Levy 2008 58,596,416 55,372,153 94.5% 1,979,979 57,352,132 97.9% 2009 59,888,244 59,413,901 99.2% 1,908,877 61,322,778 102.4% 2010 63,412,390 62,493,060 98.6% 1,503,665 63,996,725 100.9% 2011 63,509,868 60,953,478 96.0% 2,238,913 63,192,391 99.5% 2012 54,551,881 52,555,579 96.3% 1,101,283 53,656,862 98.4% 2013 53,821,226 51,926,679 96.5% 1,185,359 53,112,038 98.7% 2014 50,290,510 49,040,534 97.5% 1,190,365 50,230,899 99.9% 2015 51,642,537 50,911,821 98.6% 1,189,526 52,101,347 100.9% 2016 55,866,894 55,338,250 99.1% 1,086,254 56,424,504 101.0% 2017 69,068,338 68,960,793 99.8% 1,022,365 68,961,670 99.8% Source: Eagle County Schools Finance Department Revenue Capacity Property Tax Levies and Collections 103 December 4, 2018 - Page 428 0 Revenue Capacity Legal Debt Margin Information 104 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Legal Debt Margin Information Last Ten Fiscal Years 2008 2009 2010 2011 2012 Assessed valuation $2,922,368,820 $2,933,681,930 $3,268,342,952 $3,261,264,657 $2,525,433,131 Debt limit (20% of assessed valuation) $ 584,473,764 $ 586,736,386 $ 653,668,590 $ 652,252,931 $ 505,086,626 Debt applicable to limit: General obligation bonds Less: Amount set aside for repayment of general obligation debt Total net debt applicable to limit $ 182,640,000 $ 176,490,000 $ 169,300,000 $ 162,425,000 $ 155,250,000 (15,419,426) 167,220,574 (10,172,649) 166,317,351 (10,777,163) 158,522,837 (11,323,445) 151,101,555 (11,896,492) 143,353,508 Legal debt margin $ 417,253,190 $ 420,419,035 $ 495,145,753 $ 501,151,376 $ 361,733,118 Total net debt applicable to the limit as a percentage of debt limit 5.72% Source: Eagle County Schools Finance Department, Eagle County Assessor 5.67% 4.85% 4.63% 5.68% Note: Under State of Colorado finance law, the District's outstanding general obligation debt should not exceed 20% of total assessed property value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying general obligation bonds. December 4, 2018 - Page 429 0 EAGLE COUNTY SCHOOLS TABLE 9 2013 2014 2015 2016 2017 $2,519,484,390 2,498,757,550 2,400,080,750 2,734,683,670 2,739,828,540 $ 503,896,878 $ 499,751,510 $ 480,016,150 $ 546,936,734 $ 547,965,708 $ 146,475,000 $ 138,995,000 $ 131,590,000 $ 123,255,000 $ 246,225,000 (11,796,093) 134,678,907 (11,110,990) 127,884,010 (11,816,380) 128,633,620 (12,202,188) 111,052,812 (16,186,060) 230,038,940 $ 369,217,971 $ 371,867,500 $ 351,382,530 $ 435,883,922 $ 317,926,768 5.35% 5.12% 5.36% 4.06% 8.40% Debt Capacity Legal Debt Margin Information 105 December 4, 2018 - Page 430 0 Debt Capacity Ratio of Outstanding Debt by Type 106 EAGLE COUNTY SCHOOLS TABLE 10 EAGLE COUNTY SCHOOLS Ratio of Outstanding Debt by Type Last Ten Fiscal Years General Total Percentage Debt Fiscal Obligation Certificates of Primary of Personal Per Year Bonds Participation Government Income Capita 2008 182,640,000 - 182,640,000 0.026% 3,478 2009 176,490,000 - 176,490,000 0.028% 3,275 2010 169,300,000 - 169,300,000 0.027% 3,063 2011 162,425,000 11,728,300 174,153,300 0.026% 3,336 2012 155,250,000 11,621,657 166,871,657 0.027% 3,074 2013 146,475,000 11,439,414 157,914,414 0.031% 2,942 2014 158,037,503 10,247,471 168,284,974 0.029% 3,030 2015 148,847,531 9,040,528 157,888,059 0.032% 3,010 2016 138,727,559 7,758,585 146,486,144 0.040% 2,768 2017 281,775,470 281,775,470 0.022% 5,398 Source: Eagle County Schools Finance Note: General Obligation Bonds and Certificates of Participation include premiums Note: Personal Income and Population data may be found on Table 13 Note: The Bonds are secured by the District's full faith and credit and are general obligations of the District payable from ad valorem taxes to be levied, without limitation of rate and in an amount sufficient to pay the Bonds when due, against all taxable property within the District. December 4, 2018 - Page 431 0 EAGLE COUNTY SCHOOLS Fiscal Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 EAGLE COUNTY SCHOOLS Ratio Of General Bonded Debt Outstanding Last Ten Fiscal Years General Obligation Bonds 167,220,574 166,317,351 158,522,837 151,101,555 143,353,508 134,678,907 127,884,010 128,633,620 111,052,812 230,038,940 Percentage of Actual Assessed Value of Property 5.35% 4.51% 4.31% 5.38% 5.14% 5.10% 4.86% 4.59% 3.40% 7.00% Source: Eagle County Schools Finance Department Net Bonded Debt per Capita 3,184 3,086 2,868 2,895 2,641 2,509 2,302 2,452 2,098 4,407 TABLE11 Percentage of Per Capita Income 6.70% 6.22% 6.31% 6.47% 5.77% 5.16% 4.75% 4.86% 3.62% 7.16% Note: Details regarding the District's outstanding debt can be found in the notes to the financial statements. Debt Capacity Ratio of General Bonded Debt Outstanding 107 December 4, 2018 - Page 432 0 Debt Capacity Direct and Overlapping Governmental Activities Debt 108 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Direct and Overlapping Governmental Activities Debt June 30, 2017 Governmental Unit Debt repaid with property taxes Airport Commerce Center Metro District Arrowhead Metro District Bachelor Gulch Metro District Basalt & Rural Fire District Basalt Regional Library District Basalt Sanitation District Beaver Creek Metro District Berry Creek Metro District Buckhorn Valley Metro District #2 Cascade Village Metro District Chatfield Corners Metro District Confluence Metro District Cordillera Metro District Cordillera Mountain Metro District Cordillera Valley Club Metro District Cotton Ranch Metro District Crown Mountain Park & Rec District Eagle Ranch Metro District Eagle River Water & San Dist- Water Sub Dist- Vail Eagle River Water & Sanitation Dist (Wastewater) Eagle Vail Metro District Lake Creek Metro District Mid -Valley Metro Red Sky Ranch Metro District Ruedi Shores Metro District School District JT -1 (West Grand) School District RE -1 (Roaring Fork) Solaris Metro District No. 1 The Village Town of Avon Town of Basalt Town of Eagle Traer Creek Metro District Two Rivers Metro District Vail Square Metro District No. 1 Valagua Metro District Western Eagle County Metro Rec District Subtotal, Total Overlapping Debt Eagle County School District direct debt Total direct and overlapping debt TABLE 12 Estimated Estimated Share of Debt Percentage Overlapping Outstanding Applicable Debt 3,200,000 100.00% 3,200,000 12,480,000 100.00% 12,480,000 13,569,999 100.00% 13,569,999 4,946,300 59.00% 2,918,317 7,690,000 50.60% 3,891,140 1,265,000 49.22% 622,633 5,815,000 100.00% 5,815,000 3,235,000 100.00% 3,235,000 14,746,836 100.00% 14,746,836 1,810,000 100.00% 1,810,000 2,615,000 100.00% 2,615,000 22,475,000 100.00% 22,475,000 8,430,000 100.00% 8,430,000 4,810,000 100.00% 4,810,000 100.00% 7,615,000 100.00% 7,615,000 2,360,000 58.95% 1,391,220 14,325,000 100.00% 14,325,000 8,570,000 100.00% 8,570,000 22,980,000 100.00% 22,980,000 5,725,000 100.00% 5,725,000 50,000 100.00% 50,000 92.60% 7,140,000 100.00% 7,140,000 1,594,000 100.00% 1,594,000 5,905,000 0.50% 29,525 191,659,984 20.45% 39,194,467 30,315,645 100.00% 30,315,645 6,766,776 100.00% 6,766,776 18,350,518 100.00% 18,350,518 4,833,000 70.58% 3,411,310 166,365 100.00% 166,365 36,609,000 100.00% 36,609,000 130,802 100.00% 130,802 13,885,000 100.00% 13,885,000 21,000,000 100.00% 21,000,000 2,770,000 100.00% 2,770,000 $ 509,839,225 Source: Debt outstanding data provided by each governmental unit. $ 342,638,553 $ 281,775,470 $ 624,414,023 Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the District. This schedule estimates the portion of outstanding debt of those overlapping governments that are borne by the residents and businesses of the District. This process recognizes that, when considering the District's ability to issue and repay long-term debt, the entire debt burden borne by the residents and busi- nesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt of each overlapping government. December 4, 2018 - Page 433 0 EAGLE COUNTY SCHOOLS TABLE 13 EAGLE COUNTY SCHOOLS Demographic and Economic Statistics Last Ten Fiscal Years (Unaudited) Per October 1 October 1 Fiscal Capita School Funded Unemployment Year Population Income Enrollment Pupil Count Rate 2008 52,517 47,511 5,681 5,288 3.1% 2009 53,898 49,635 6,007 5,637 3.6% 2010 55,269 45,430 6,244 5,880 7.3% 2011 52,197 44,709 6,181 5,846 9.5% 2012 54,283 45,807 6,344 5,994 8.6% 2013 53,681 48,618 6,408 6,014 8.1% 2014 55,548 48,485 6,520 6,182 6.6% 2015 52,460 50,416 6,713 6,371 4.2% 2016 52,921 57,927 6,804 6,463 3.1% 2017 52,197 61,522 6,901 6,553 2.8% Sources: Population, median household income and unemployment rate information provided by Eagle County. School enrollment data provided by the Eagle County School District Business Services Department. Demographic and Economic Information Demographic and Economic Statistics 109 December 4, 2018 - Page 434 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS Principal Employers 6/30/2017 and 9 Years Ago 2017 2008 TABLE 14 Percentage of Percentage of Number of Total County Number of Total County Employer Rank Employees Employement Rank Employees Employement Vail Resorts Inc. 1 7,860 23.4% 1 7,200 22.0% Vail Valley Medical Center 2 918 2.7% 3 881 2.7% Eagle County School District 3 887 2.6% 2 830 2.5% Eagle County Government 4 474 1.4% 4 451 1.4% Vail Cascade Resort 5 440 1.3% 6 446 1.4% East West Resorts 6 421 1.3% - 375 1.1% Westin Riverfront Resorts 7 392 1.2% 5 325 1.0% Ritz Carlton- Bachelor Gulch 8 375 1.1% 7 325 1.0% Vail Marriot 9 330 1.0% - 324 1.0% Sonnenalp Resort 10 328 1.0% 9 298 0.9% Town of Vail 11 323 1.0% - Park Hyatt Beaver Creek Resort & Spa 12 301 0.9% 8 250 0.8% Gallegos Corporation 13 264 0.8% 10 Wal-Mart Stores 14 252 0.7% - Source: Eagle County Operating Information Principal Employers 110 December 4, 2018 - Page 435 0 EAGLE COUNTY SCHOOLS TABLE 15 EAGLE COUNTY SCHOOLS Operating Statistics Last Ten Fiscal Years Governmental Cost Fiscal Fund Funded Per Percentage Year Expenditures Students Pupil Change 2007-08 112, 711, 213 5,288.0 21,315 30.2% 2008-09 137, 474, 208 5,637.0 24,388 54.2% 2009-10 88, 779, 530 5,880.0 15,099 14.4% 2010-11 86, 282, 394 5,847.0 14,757 -38.1% 2011-12 84,777,263 5,994.0 14,144 -2.3% 2012-13 75, 377, 345 6,013.5 12,535 -4.2% 2013-14 78,270,896 6,182.4 12,660 -11.4% 2014-15 86, 791, 729 6,723.5 12,908 1.0% 2015-16 87,467,489 6,779.8 12,901 2.0% 2016-17 112, 797,131 6,862.8 16,436 27.4% Source: Eagle County Schools Finance Note: Enrollment based on October enrollment. Teaching staff are full-time equivalents for the year as a whole. Operating Information Operating Statistics 111 December 4, 2018 - Page 436 0 Operating Information District Employees — Full Time Equivalents 112 EAGLE COUNTY SCHOOLS Location TABLE 16 EAGLE COUNTY SCHOOLS District Employees FTE 6/30/2017 100-104105-125 201-209 210-220 230-239 320-358 360-399 400-499 500-599 600-699 ESS Instructional Trades District School Other Certified Professional Technical Support Office/Admin & Total Admin Admin Teachers Teachers Staff Staff Support Staff Support Services FTEs General Fund 110 Eagle Valley Elementary 120 Brush Creek Elementary 130 Avon Elementary 140 Red Sandstone Elementary 160 Gypsum Elementary 170 Edwards Elementary 180 Red Hill Elementary 190 June Creek Elementary 210 Eagle Valley Middle 230 Berry Creek Middle 240 Gypsum Creek Middle 310 Battle Mountain High 320 Eagle Valley High 340 Vail Ski and Snowboard Academy 390 Red Canyon High 461 World Academy 501 Homestake Peak School 610 Superintendent & Board of Educatic 619 Gifted & Talented 620 Educator Quality 621 Instructional Services 622 Student Services 623 Assessment 624 Nursing 625 Exceptional Student Services 626 English Language Acquisition (ELA) 627 Preschool 629 Community Relations/Grant Writer 630 Business Services 640 Human Resources 650 Technology 670 Food Services 710 Maintenance 720 Transportation 950 ECCA General Fund Total Other District Funds 21 Nutrition Services Fund 22 Grants Fund 25 Transportation Fund 52 District Housing Fund Total District Funds 2.00 1.00 1.00 1.00 24.28 1.00 26.77 0.40 1.50 22.47 0.40 1.00 19.43 1.00 21.95 0.50 1.00 20.24 1.10 1.00 23.94 0.75 1.00 20.28 1.00 2.00 16.11 0.50 1.60 24.60 1.40 2.00 22.58 0.50 3.00 44.54 4.24 3.00 47.08 5.28 1.50 13.43 1.00 1.50 14.38 0.75 0.50 2.00 35.74 1.00 5.00 2.00 1.00 2.00 2.00 1.00 2.00 1.00 3.81 1.00 0.75 1.00 1.00 1.00 1.00 6.57 1.50 1.38 34.73 8.60 1.88 2.00 40.65 8.63 1.50 2.00 36.50 3.99 1.50 1.50 27.42 9.09 2.00 2.00 36.54 2.63 2.00 2.00 28.97 12.57 1.94 1.94 42.14 15.48 2.00 2.00 41.76 2.00 2.00 1.38 23.99 8.86 2.63 1.75 40.84 5.85 2.00 2.00 34.93 5.11 4.00 5.00 65.89 6.00 4.50 4.00 69.86 1.14 1.00 1.00 19.07 2.86 1.50 1.00 21.99 0.50 11.66 2.00 3.00 55.40 1.00 3.00 1.00 6.00 1.00 4.00 1.00 4.00 2.00 5.00 2.00 13.82 15.82 18.91 1.20 3.00 3.00 33.92 4.00 5.00 2.13 1.88 4.76 1.00 1.00 3.00 1.13 6.13 4.00 1.00 7.00 13.00 1.00 14.00 1.00 1.00 13.19 15.19 1.81 1.81 8.00 29.10 406.13 30.38 20.91 30.58 1.25 11.20 13.00 130.99 48.83 49.27 747.81 1.00 11.33 1.00 0.30 1.75 22.42 25.17 2.63 45.79 5.38 30.70 37.38 1.25 1.25 30.58 1.25 2.00 11.63 9.76 54.37 109.59 Total All Funds 8.00 29.10 436.71 31.63 20.91 13.20 13.00 142.62 58.59 103.64 857.40 Source: Eagle County Schools Finance and Human Resources Departments December 4, 2018 - Page 437 0 EAGLE COUNTY SCHOOLS TABLE 17 EAGLE COUNTY SCHOOLS Student Enrollment FTE Last Ten Fiscal Years General (Excluding District Year Charters) (Total) CSI ECCA/NAS Charter 2008-09 5,283.3 5,818.7 181.4 354.0 535.4 2009-10 5,516.1 6,068.4 188.3 364.0 552.3 2010-11 5,491.8 6,040.0 193.2 355.0 548.2 2011-12 5,656.7 6,124.6 130.9 337.0 467.9 2012-13 5,701.6 6,280.2 223.6 355.0 578.6 2013-14 5,858.4 6,460.4 278.0 324.0 602.0 2014-15 6,080.0 6,723.5 313.5 330.0 643.5 2015-16 6,177.8 6,779.8 275.5 326.5 602.0 2016-17 6,245.8 6,862.8 271.0 346.0 617.0 Source: Eagle County Schools Finance Operating Information Student Enrollment- Full Time Equivalents 113 December 4, 2018 - Page 438 c Total Student FTE 7,500 7,000 6.723 5 6,779.8 6,862.8 6,280.2 6,460.4 6,500 5,818.7 6,068.4 6,040.0 6,124.6 6,000 6,080.0 6,177.8 6,245.8 5,500 5,516.1 5,491.8 5,656.7 5,701.6 ,858.4 5, 000 4,500 5,283.3 4,000 3,500 3,000 2008-09 2009-10 2010-11 General 2011-12 (Excluding Charters) 2012-13 2013-14 2014-15 (Total) 2015-16 2016-17 District Source: Eagle County Schools Finance Operating Information Student Enrollment- Full Time Equivalents 113 December 4, 2018 - Page 438 c Operating Information Schedule of Insurance 114 EAGLE COUNTY SCHOOLS Description of Insurance General Liability TABLE 18 EAGLE COUNTY SCHOOLS Schedule of Insurance (Unaudited) Carrier or Pool Coverage Limit Deductible Colorado School $2,000,000 $0 Districts Self Insurance Pool (CSDSIP) Property including: Inland marine CSDSIP $65,000,000 $1,000 Boiler and machinery CSDSIP $5,000,000 $1,000 Automobile liability: CSDSIP Combined single limit $1,000,000 $0 Personal injury protection $5,000 $0 Uninsured motorist $1,000,000 $0 School Leaders Errors and Omissions CSDSIP $2,000,000 $0 Public Officials Bond CSDSIP $10,000 $100 Crime: CSDSIP Employee dishonesty $150,000 $500 Theft $10,000 $100 Forgery/alteration $10,000 $100 Employment Practices Liability CSDSIP $1,000,000 $1,000 Worker's Compensation Pinnacol NO LIMIT $1,000 Unemployment Claims basis NO LIMIT Source: Eagle County Schools Finance December 4, 2018 - Page 439 0 EAGLE COUNTY SCHOOLS TABLE 19 EAGLE COUNTY SCHOOLS Facility Statistics SCHOOL GRADE LEVEL BLDG. SQ. FT. APPROX. ACREAGE YEAR BUILT CAPACITY 1 Avon Elementary P-5 67,780 10.0 1996 410 2 Battle Mountain High 9-12 209,000 39.0 2009 1000 3 Berry Creek Middle 6-8 80,552 15.0 1996 490 4 Brush Creek Elementary P-5 65,143 10.0 2001 500 5 Eagle Valley Elementary P-5 47,739 see EVMS 1973 550 6 Eagle Valley High 9-12 155,147 17.0 1975/2009 800 7 Eagle Valley Middle 6-8 53,779 19.0 1980 500 8 Edwards Elementary K-5 55,000 9.0 1991 430 9 Gypsum Creek Middle 6-8 81,590 15.0 2001 500 10 Gypsum Elementary P-5 55,000 see EVHS 1991 430 11 Homestake Peak P-8 122,533 40.0 1975/1991 512 12 June Creek Elementary P-5 74,000 10.5 2008 500 13 Red Canyon High- East 9-12 5,700 2.5 2008 70 14 Red Canyon High -West 9-12 6,000 0.2 leased 70 15 Red Hill Elementary K-5 62,943 10.0 2001 450 16 Red Sandstone Elementary P-5 45,537 4.0 1977 365 17 Vail Ski & Snowboard Acadamy 5-12 53,758 6.5 1978 250 1,241,201 207.7 7,827 Other buildings - add 39,300 1,280,501 Source: Eagle County Schools Maintenance Department Operating Information Facility Statistics 115 December 4, 2018 - Page 440 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS (This page was left blank intentionally.) December 4, 2018 - Page 441 0 EAGLE COUNTY SCHOOLS COMPLIANCE SECTION December 4, 2018 - Page 442 0 EAGLE COUNTY SCHOOLS SINGLE AUDIT Compliance Section Independent Auditor's Report on Internal Control 118 December 4, 2018 - Page 443 0 EAGLE COUNTY SCHOOLS e&C Swanhorst & Company LLC c cni rw runbc nr4aeL+.111 Board of Education Eagle County Schools Eagle, Colorado INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED 1N ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the governmental activities. the business -type activities. the discretely presented component unit, each major fund, and the aggregate remaining fund information of the Eagle County Schools as of and for the year ended June 30, 2017, and the related notes to the financial statements, which collectively comprise the basic financial statements of the Eagle County Schools, and have issued our report thereon dated February 9, 2018. The financial statements of the Eagle County Charter Academy, a discretely presented component unit, were not audited in accordance with Government Auditing Standards. Internal Control Over Financial Reporting In planning and performing our audit of'the financial statements. we considered the Eagle County Schools' internal control over financial reporting to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not For the purpose of expressing an opinion on the effectiveness of the Eagle County Schools' internal control. Accordingly. we do not express an opinion on the effectiveness of the Eagle County Schools' internal control over financial reporting. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Eagle County Schools' financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of the Eagle County Schools' internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. 8400 E. Crescent Parkway • Suite 600 • Greenwood Village, CO 80111 • (720) 528-4306 Fax: (720) 528-4307 Compliance Section Independent Auditor's Report on Internal Control 119 December 4, 2018 - Page 444 c EAGLE COUNTY SCHOOLS Compliance and Other Matters As part of obtaining reasonable assurance about whether the Eagle County Schools' financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and Fant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompl iance or other matters that are required to be reported under Government Auditing Standards, Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Eagle County Schools' internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Eagle County Schools' internal control and compliance. Accordingly, this report is not suitable for any other purpose. az, February 9, 2018 Compliance Section Independent Auditor's Report on Internal Control 120 December 4, 2018 - Page 445 c EAGLE COUNTY SCHOOLS 684C Swanhorst & Company LLC Certified Public Aeccumam. Board of Education Eagle County Schools Eagle, Colorado INDEPENDENT AUDITORS' REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM, INTERNAL CONTROL OVER COMPLIANCE, AND THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS REQUIRED BY THE UNIFORM GUIDANCE Report on Compliance for Each Major Federal Program We have audited theEagie County Schools' compliance with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Compliance Supplement that could have a direct and material effect on each of theEagle County Schools' major federal programs for the year ended June 30, 2017. The Eagle County Schools' major federal programs are identified in the summary of auditors' results section of the accompanying schedule of findings and questioned costs. Management's Responsibility Management is responsible for compliance with federal statutes, regulations, and the terms and conditions of the federal awards applicable to its federal programs. Auditors' Responsibility Our responsibility is to express an opinion on compliance for each of the Eagle County Schools' major federal programs based on our audit of the types of compliance requirements referred to above. We Conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Those standards and the Uniform Guidance require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about the Eagle County Schools' compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination of the Eagle County Schools' compliance. Opinion on Each Major Federal Program In aur opinion, the Eagle County Schools complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2017. 8400 E. Crescent Parkway • Suite 600 • Greenwood Village, CO 80111 • (720) 528-4306 Fax: (720) 528-4307 Compliance Section Independent Auditor's Report on Compliance 121 December 4, 2018 - Page 446 c EAGLE COUNTY SCHOOLS Report on Internal Control Over Compliance Management of the Eagle County Schools is responsible for establishing and maintaining effective internal control aver compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered the Eagle County Schools' internal control aver compliance with the types of requirements that could have a direct and material effect on each major federal program to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over Compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the Eagle County Schools' internal control over compliance. A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance such that there is a reasonable possibility that materia] noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, an a timely basis. A significant deficiency in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of the Eagle County Schools' internal control aver compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control aver compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. The purpose o f this report an internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose. Report on Schedule of Expenditures of Federal Awards Required by the Uniform Guidance We have audited the financial statements of the governmental activities, the business -type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the Eagle County Schools as of and for the year ended June 30, 2017, and the related notes to the financial statements, which collectively comprise the basic financial statements of the Eagle County Schools. We issued our report thereon dated February 9, 20l 8, which contained unmodified opinions on those financial statements. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Eagle County Schools' basic financial statements. The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by the Uniform Guidance and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling the information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of expenditures of federal awards is fairly stated, in all material respects, in relation to the basic financial statements as a whole. February 9, 2018 Compliance Section Independent Auditor's Report on Compliance 122 December 4, 2018 - Page 447 0 EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS SCHEDULE OF FINDINGS AND QUESTIONED COSTS Year Ended June 30, 2017 Summary of Auditors' Results Financial Statements Type of auditors' report issued: unmodified Internal control over financial reporting: • Material weaknesses identified? • Significant deficiencies identified that are not considered to be material weaknesses? Noncompliance material to financial statements noted? Federal Awards Internal control over major federal programs: • Material weaknesses identified? • Significant deficiencies identified that are not considered to be material weaknesses? yes x no yes x none reported yeti x no yes x no yes x none reported Type of auditors' report issued on compliance for major federal programs: unmodified Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200,516(a)? yes x no Identification of major federal programs: Special Education Cluster 84,027 Special Education 84,173 Special Education Preschool Dollar threshold used to distinguish between type A and type B programs: $750,000 Auditec qualified as low-risk auditee? x yes no Financial Statement Findings The audit of the financial statements did not disclose significant deficiencies in internal control that would be considered material weaknesses, and did not disclose fraud, noncompliance, or abuse that were material to those financial statements, Federal Awards Findings and Questioned Costs The audit of federal awards did not disclose significant deficiencies in internal control that would he considered material weaknesses, and did not disclose instances of noncompliance or abuse that were material to those federal awards, Compliance Section Schedule of Findings and Questioned Costs 123 December 4, 2018 - Page 448 c EAGLE COUNTY SCHOOLS EAGLE COUNTY SCHOOLS SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS Year Ended June 30, 2017 Federal Grantor/Pass-through Grantor/Program Title Pass -Through Federal Entity Identifying CFDA Number Number Expenditures U.S. Department of Education Passed through Colorado Department of Education Title I 4010 84.010 831,461 Special Education Cluster Special Education 4027 84.027 1,103,549 Special Education - Preschool 4173 84.173 25,033 English Language Acquisition 4365/7365 84.365 170,291 Mathematics and Science Partnerships 5366 84.366 33,644 Supporting Effective Education 4367 84.367 99,204 Race to the Top - Early Learning Challenge 5412 84.412 22,925 Passed through Colorado Community College System Career and Technical Education 84.048 26,379 TOTAL U.S. DEPARTMENT OF EDUCATION 2,312,486 U.S. Department of Health and Human Services Direct Program Head Start 93.600 461,585 TOTAL U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES 461,585 U.S. Department of Agriculture Child Nutrition Cluster Passed through Colorado Department of Education School Breakfast Program 4553 10.553 129,632 National School Lunch Program 4555 10.555 927,146 Summer Food Service Program for Children 4559 10.559 36,663 Passed through Colorado Department of Human Services Donated Commodities 10.555 146,340 TOTAL U.S. DEPARTMENT OF AGRICULTURE 1,239,781 TOTAL FEDERAL FINANCIAL ASSISTANCE $ 4,013,852 See the accompanying Independent Auditors' Report. Compliance Section Schedule of Expenditures of Federal Awards 124 December 4, 2018 - Page 449 0 EAGLE COUNTY SCHOOLS Eagle County Schools NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS Year Ended June 30, 2017 NOTE 1: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards using the accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in the financial statements. The District does not charge a de minimis indirect cost rate. Compliance Section Notes to Schedule of Expenditures of Federal Awards 125 December 4, 2018 - Page 450 0 EAGLE COUNTY SCHOOLS STATE COMPLIANCE December 4, 2018 - Page 451 0 EAGLE COUNTY SCHOOLS Revenues. Expenditures. & Fund Balance by Fund Colorado Department of Education Auditors Integrity Report District 0910 - EAGLE COUNTY RE 50 Fiscal Year 2016-17 Colorado School District/BOCES Fund Type &Num her Beg Fund Balance & Prior Per Adj !6A8Pr) 100D- 5999 Total Revenues & 0041-0999 Total Expenditures & 6700-6799 & Prior Per Adj Other Sources Other Uses (68BOx) Ending Fund Balance Governmental 4- - 12 Gen424-Fund 12/014036 19,617.295 10 Risk Mgmt 5u12 -Fund of Ge8e ei Fund 0 0 Colorado Protean/ Pingran F3=W 19 Sub-TDIEL — 12 °v rtu `50J LFuld 66,4131401 15.134,932 O 2 0 12614.638 $317291 66484401 15,189312 945.250 4,394.220 3089,603 1244574 20.2E-29 Spe441Re5enue Rend 0 0 2. 6 06 AypOemental Cap coml.. Tec. Maim/Lon 0 0 0 21 Food Service Spec Revenue Fund 411,774 2,221,714 1,964.650 466542 22 GetDesigSated-Purpose Gnarls Fond 0 3,424,123 3,424,123 0 23 PupiLA[tiOity Special Revenue Fund 0 0 0 24 Rd Dayltrxlergarte6 Mill Lev Override 0 0 0 25 Transportation Fund 58,047 2,371.268 2,424,561 5,334 31 Eland Redemption Fund 12.22.197 20,957.272 16,073,400 16,108,060 39 Cer060236 of Parteipatiion (102133 Debt Service Fuld 0 0 0 0 21 5181] lg Fund -1 155563175 25,075,351 129,716,157 42 Special 0rlilding Hold 0 0 2 0 63 Capital Reserve Capita. 1,roj2CS Fund 2684954 974,443 1,011,441 1,667954 46 SSpplemEm2l Cap Conic, Twit Main Fo. 0 0 0 Toots 27.416,451 25U015.811 141212951 111449,111 Proprietary 50 Other Mei-p000 F1n2s 641631 Risk -Related Activity Neil 852.710 122,104 125,532 854,365 1 o D 0 89,65-69 Other Internal Service Funds 8 6 2 0 Tam 151.316 170,1114 127.952 M1µ Fiduciary 79 ornoiTnut and Agency Flnds 72 Irritate Pupose Tn8t Fund 73 Agency F4ald 74 Pupii1405475 Agency Fund 79 G85434prYn3neni Fuld 95 Fomd4i018 TabLs O 0 0 O 2 0 O 2 0 1,194,067 1,194624 903,294 0 0263041 1241253 541,214 1111151 FINAL State Compliance Auditors Integrity Report 127 December 4, 2018 - Page 452 0 EAGLE COUNTY SCHOOLS December 4, 2018 - Page 453 0 948 Chambers Avenue, POB 740 Eagle, CO 81631 1 (970) 328-6321 www.eagleschools.net 0 facebook.com/eagle.schools 0 @eagleCOschools EAGLE COUNTY SCHOOLS December 4, 2018 - Page 454 0 8/22/2018 Ski & Snowboard Club Vail Seyferth Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Ski & Snowboard Club Vail First Name of Contact Person : Euginnia Last Name of Contact Person : Seyferth E-mail Address : eseyferth@skiclubvail.org Mailing Address : 598 Vail Valley Drive City : Vail State : US -CO Zip : 81657 December 4, 2018 - Pa64 455 0 8/22/2018 Telephone Number : 9707905133 Members and Titles of your Governing Board : Board of Directors • John Keane — Chairman of the Board (Founder, King Hill Capital) Current board member at Lightning Hybrids, Purpose Energy, Ravenbrick, Stellaris, Sundolier and board observer for Greentech Media • Jeff Kirwood — Vice Chairman and Board Treasurer (Founder and Executive Director, Aspen Grove Capital) • Kaia Moritz — Board Secretary (SSCV Alumna) Trustee at Vail Mountain School and Borgen Family Foundation board member • Stacey Birtwhistle • Jane Donovan • Sylvan Ellefson (SSCV Alumni and current coach) • Mike Imhof (President, Vail Valley Foundation) • Michael lmperi (Headmaster, Vail Mountain School) • TJ Johnson • Steve Kalapos • Dan Leever • Eric Resnick (US Ski & Snowboard Foundation Board Member) • Tye Stockton • Todd Wallis Emeritus • Glenn Davis — Former Chairman and Vice Chairman (Regional President, Alpine Banks of Colorado) Colorado Mountain College Trustee, Vail Junior Hockey Associate and Vail Valley Partnership Chairman Honorary • Lindsey Vonn (U.S. Ski Team Member, SSCV alumna, Four -Time Overall World Cup Champion, Olympic Gold Medalist) Organization Mission Statement : Inspiring character growth and excellence Organization fiscal year-end: : 2019-04-30 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : In- Kind Services and Facilities Only In- Kind Request : Dobson Ice Arena (4 days° Who currently funds your organization? : SSCV is currently funded by our program fees and private donations from members and friends. How will the contribution be used? : To use the Dobson Ice Arena for our Annual Ski & Snowboard Swap. It will be our 50th year hosting the event in 2019. This is an annual fundraiser for Ski & Snowboard Club Vail. How does your request support item 1C of the Contribution Policy (See above) : This event supports the Town of Vail's mission statement by Ski & Snowboard Club Vail is one of the premier ski clubs in the world and are constantly growing within the community and bring new residents and guest to the Vail every year. SSCV provides recreational opportunities for youth in Vail and provides some of the best training facilities in the world and hosts well organized events. Please Upload Organization Balance Sheet : SSCV Bal Sheet 4.30.18 (unaudited).pdf Please Upload Organization Income Statement : SSCV P&L 4.30.18 (unaudited).pdf Linked Form : jheaydon@skiclubvail.org Submission Date : 2018-06-21 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6741521 Last change : 2018-06-27T15:44:07+0000 December 4, 2018 - Pa§4 456 0 8/24/2018 Ski & Snowboard Club Vail Seyferth Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Ski & Snowboard Club Vail First Name of Contact Person : Euginnia Last Name of Contact Person : Seyferth E-mail Address : eseyferth@skiclubvail.org Mailing Address : 598 Vail Valley Drive City : Vail State : US -CO Zip : 81657 December 4, 2018 - Pa64457 c 8/24/2018 Telephone Number : 9707905133 Members and Titles of your Governing Board : Board of Directors • John Keane – Chairman (Founder, King Hill Capital). Current board member at Purpose Energy and RavenWindow, and a board observer at Lightning Systems • Jeff Kirwood – Vice Chairman and Treasurer (Founder and Executive Director, Aspen Grove Capital). • Kaia Moritz – Secretary (SSCV Alumna). Trustee at Vail Mountain School, Vail Valley Foundation and Borgen Family Foundation • Stacey Birtwhistle • Jane Donovan • Kirk Dwyer (Executive Director) • Sylvan Ellefson (SSCV Athlete Representative) • Wade Hill (Principal, Vail Ski and Snowboard Academy) • Mike Imhof (President, Vail Valley Foundation) • Michael lmperi (Headmaster, Vail Mountain School) • TJ Johnson • Steve Kalapos • Dan Leever • Eric Resnick • Tye Stockton • Todd Wallis Emeritus • Glenn Davis – Former Chairman and Vice Chairman 2005-2015 (Regional President, Alpine Banks of Colorado) Colorado Mountain College Trustee, Vail Junior Hockey Associate and Vail Valley Partnership Chairman Honorary • Lindsey Vonn (U.S. Ski Team Member, SSCV alumna, Four -Time Overall World Cup Champion, Olympic Gold Medalist) Organization Mission Statement : Founded in 1962, Ski and Snowboard Club Vail's (SSCV) mission is to provide youth the opportunity for character growth and excellence through athletics. The Club is recognized as one of the premier ski and snowboard clubs in the country, having received the "USSA Club of the Year" award multiple times. SSCV is also highly respected throughout the Valley as a leader in youth development. The lessons learned through Character, Courage, and Commitment (The 3 Cs) have helped launch the aspirations of doctors, attorneys, inventors, community activists and entrepreneurs, many of whom return to Eagle County to live permanently. Originally a small club dedicated to ski racing, SSCV is the oldest non-profit in the valley and has evolved into an iconic community institution. Over the course of the past five decades, SSCV has impacted the lives of over 15,000 children and their families; hundreds of coaches; and inspired our community with world-class athletes. Today, SSCV serves approximately 700 children yearly in a variety of snow sport disciplines, including alpine racing, moguls, freeski, snowboard, and nordic. The Club is a 501(c)3 non-profit charitable organization. Organization fiscal year-end: : 2019-04-30 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : Services Type of Funding Requested : Cash Funding Only Amount of Contribution Requested : $500,000 Who currently funds your organization? : Program fees and donations How will the contribution be used? : Ski & Snowboard Club Vail (SSCV) plans to invest $5 million to expand and upgrade the Golden Peak training venue. SSCV plans to invest $5 million (raised primarily from SSCV members) to improve the training facilities on Golden Peak, subject to US Forest Service approval. This improvement project will create a training venue that will rival the world's best. Expanding the Golden Peak training venue will enable SSCV to begin early season training weeks earlier, due to its higher elevation of about 1,000 vertical feet—increasing the training capacity by nearly 100%. By expanding the capacity of the venue, it will become a far more productive and safer training site for SSCV's growing number of athletes, which is nearly double the amount from 15 years ago. Golden Peak already attracts virtually every top national ski team from around the world for early season training in November and early December. And, as the home hill for SSCV, it has enabled SSCV to be named the Alpine Ski Club of the Year for a record 3 consecutive years, 2014-2016. The venue has also helped produce Olympic gold medalists Lindsey Vonn and Mikaela Shiffrin. At the 2018 PyeongChang Winter Olympics, Ski and Snowboard Club Vail was represented by 18 athletes and brought home 5 Olympic medals. Capital Funds Needed: $5,000,000 As of June 2018, Ski and Snowboard Club Vail has received firm pledge commitments in the amount of $3,800,000 from 21 donors. We are relatively confident that we have an additional $100,000 - $200,000 in the pipeline. In addition, in December 4, 2018 - Pa§4 458 0 8/24/2018 April of 2018, an anonymous SSCV family committed a matching pledge of up to $1,000,000 for any gifts received moving forward. This has been tremendously helpful toward motivating our previously committed donors to increase their gifts as well as enticing new donors to join the effort. A $500,000 grant from the Town of Vail will help complete our campaign by triggering a $500,000 match from the family mentioned above. SSCV has secured a bridge loan allowing payments of all pledges, including a grant from the TOV, to be made over a period five years, if needed. U.S. Forest Service approval is expected in October 2018. Construction is scheduled to begin during the 2019 winter, with completion in time for early -season training November 2019. Vail Resorts Contribution Vail Resorts has been the instrumental and key partner in the U.S. Forest Service application process. It simply could not happen without their in-house endorsement and support. In addition, Ski and Snowboard Club Vail receives in- kind support from Vail Resorts in the amount of $750,000 every year. This includes grooming and snowmaking; complimentary ski passes for coaches and staff; and discounted race and training tickets for visiting athletes and coaches. Furthermore, in 2017, Vail Resorts "gifted" the .25 acres of land on which the new clubhouse is currently being built. This parcel is valued to be worth approximately $6,000,000. Additional Documents attached to support our project include: 1. Golden Peak Improvement Campaign Deck 2. Economic Impact 3. Letters of support 5. Fundraising Progress 6. Golden Peak Improvement Campaign Video 7. 2016-2017 Annual Report How does your request support item 1C of the Contribution Policy (See above) : The improvement of Golden Peak will contribute significantly to the Vail economy. Over the last few years, Golden Peak has become one of the world's premier early season race training venues. Each Fall, for a five-week period, SSCV hosts approximately 20 ski clubs, 20 national ski teams, and 10 college teams, most of which spend about one week in Vail. The economic impact of this activity is enormous, particularly since it occurs in November and early December, a time of year that is historically very quiet. Each year, early season training, contributes about $1.0 million to $1.4 million to the Vail economy[1]. With the improvement of Golden Peak, the economic impact will increase by about 50% to about $1.5 million to $2 million per year — since it will open weeks earlier and offer more training capacity. This economic impact is driven by the number of visitors, and the projected spending in Vail on lodging, meals, and other retail purchases. Importantly, the Vail economy has also been strengthened by families moving to Vail Valley in order to enroll their children into SSCV, which the snow sports community regards as one of the best clubs in the country. In fact, over the last five years alone approximately 165 families have relocated to the Vail Valley, driven primarily by their desire to enroll their children in SSCV. With the planned improvement of the Golden Peak venue, SSCV will enhance the quality of its training even further, and consequently, likely attract even more families to relocate here. Finally, the increased length of the Golden Peak will create a venue capable of hosting World Cup events and other significant championships, which could add another $10-20 million per year to the Vail economy[1]. Golden Peak is potentially the last and only opportunity Vail will have to create an international competition venue now that Gondola One has been built on the site of the previous World Cup finish arena. In sum, SSCV contributes significantly to the vibrancy of the Vail economy. With the upgrade to the Golden Peak training venue, we expect the Club's economic contribution to the Vail community to strengthen materially in the years to come. [1] Assumes an additional 75,000 visitor days (compared to 150,000 for the 2015 Alpine World Championships) and spending $167 - $330 per day. For comparison, the study for early season training assumed $167 per day. Please Upload Organization Balance Sheet : SSCV Bal Sheet 4.30.18 (unaudited).pdf Please Upload Organization Income Statement : SSCV P&L 4.30.18 (unaudited).pdf Linked Form : eseyferth@skiclubvail.org Submission Date : 2018-06-28 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6225234 Last change : 2018-06-28T17:57:14+0000 December 4, 2018 - Pad4 459 0 8/24/2018 December 4, 2018 - Pad6 460 0 SSCV Balance Sheet 4_30_18 ASSETS SSCV Operating Accounts Investors Choice Money Market Restricted Cash Total Cash/Cash Eqiv/Restr Cash Accounts Receivable Other Current Assets A/R and Other Curent Fixed Assets 30 -Apr -18 30 -Apr -17 $ Change % Change Comment (49,493) (17,222) (32,271) 187% 375,618 423,950 (48,332) -11% 59 65,083 (65,024) -100% 2017 Liquidation of JP Morgan & Denver Foundation 326,184 471,810 (145,627) -31% 317,902 752,999 37,838 1,914 (435,097) 35,924 -58% 2017: Work Comp Receivable of $390K 1877% 355,740 754,913 (399,173) -53% 2,610,080 2,255,371 354,709 16% Other Assets 1,475,142 1,475,142 0% Includes Snowmaking Lic. TOTAL ASSETS 4,767,146 4,957,236 (190,090) -4% LIABILITIES & EQUITY Accounts Payable 205,316 160,502 44,814 28% Other Current Liabilities Alpine Bank LOC Total Other Liabilities A/P and Other Current Liabilities Long Term Liabilities- Clubhouse LOC Total Liabilities Equity TOTAL LIABILITIES & EQUITY Alpine LOC + Clubhouse LOC 63,251 453,777 (390,526) -86% 827,522 1,249,950 (422,427) -34% 890,773 1,703,726 (812,953) -48% 1,096,090 1,863,869 (767,779) -41% - 1,000,000 (1,000,000) -100% 1,096,090 1,763,151 (667,062) -38% 3,671,057 2,093,368 1,577,689 75% 4,767,146 4,957,236 (190,090) -4% 827,522 2,249,950 (1,422,427) -63% December 4, 2018 - Page 461 of 509 Ski and Snowboard Club Vail 2017-2018 4/30/2018 Actuals Analysis P&L Tab Alpine Total Free Ski Snowboard Freestyle Nordic Future Stars Private Coaching VSSA- WT Other Total Program Revenue 2017-2018 Forecast 2,434,924 414,165 309,919 287,656 252,693 96,690 171,155 172,864 4,140,066 Non Program Revenue Membership Revenue 39,100 Guest Training Revenue 50,739 Camp Net Revenue (56,373) Early Season Training Net 4,407 Tune Shop Net (1,286) Total Non Program Revenue 36,587 Event Revenue Golf Tournament Net 13,211 Ski Swap Net 92,277 Celebration of Winter Net 78,395 Race Net 87,245 Town Series Net 13,452 Vail Cup Net 1,471 Other Event Revenue Net 14,620 Net Event Revenue 300,670 Development Revenue Total Annual Campaign Total Other Dev Revenue Total Scholarship Inspires Challenge Total Development Revenue 708,424 174,000 170,761 3,990 1,057,175 Other Revenue VSSA Language/Academic Fees 116,025 VSSA Lunch Net 857 Uniform Fees Other Revenue- Interest Inc 1,980 Total Other Revenue 118,862 Total Revenue 5,653,359 Expenses Program Expenses Alpine Total- Payroll 1,498,322 Free Ski- Payroll 260,695 Snowboard- Payroll 194,024 Freestyle- Payroll 179,645 Nordic- Payroll 212,724 Future Stars- Payroll 28,117 Private Coaching- Payroll 144,807 VSSA- WT- Payroll 255,398 Human Performance- Payroll 183,072 Tel/Equipt/Travel Programs 128,108 Total Program Expenses 3,084,912 Non Program Expenses Simple Scholarship Standard Scholarship Travel/VSSF- JTA 235,357 70,573 December 4, 2018 - Page 462 0 Ski and Snowboard Club Vail 2017-2018 4/30/2018 Actuals Analysis P&L Tab Diversity/Sum mer/Other Total Scholarship Discounts Total Non Program Expenses Admin Expenses Admin- Salaries Auto Telephone- Admin Annual Campaign Expenses Computer/Website Expense Credit Card Commissions Interest Expense Meetings Insurance Bldg/Bod Rent Travel- Admin Accounting Advertising/Promotion Equipment Expense- Admin Depreciation Dues and Fees Gifts Licenses/Permits Professional Fees Office Supplies/Expense Photocopy Expense Postage Expense Professional Development Radio Expense Uniforms Utilities Building Repair/Maint Other Total Admin Expenses Total Op Expenses 2017-2018 Forecast 65,018 370,948 350,938 721,886 884,365 65,562 51,643 41,788 21,630 122,247 16,445 11,149 28,295 34,748 4,607 19,761 11,576 7,647 41,860 4,720 1,289 62,075 3,189 11,230 2,994 23,444 9,303 1,535 7,911 37,773 83,802 1,612,587 5,419,385 Ordinary Income 233,974 Unallocated Reserves/Contingency Contibution to the MFC 15,000 403b Matching 109,174 Bonus - Total Other Expenses 124,174 Total Ordinary Plus Other Expenses Income before Depr and Amort Adj Income before Depr and Amort Capital Campaign Contributions Net Income Including Capital Contrib 5,543,560 109,800 109,800 1,433,114 1,542,914 December 4, 2018 - Page 463 0 8/22/2018 Small Champions, Inc Weiss Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Small Champions, Inc First Name of Contact Person : John Last Name of Contact Person : Weiss E-mail Address : smallchampions@gmail.com Mailing Address : P.O. Box 4691 City : Vail State : US -CO Zip : 81658 December 4, 2018 - Pa0 464 0 8/22/2018 Telephone Number : 9703900004 Members and Titles of your Governing Board : Connie Miller -Board Chair, John Weiss -Executive Director, Steve Holden -Treasurer, Kara Heide, Kristin Jennings, Donna Johnson, Brian Nestor, Honore Everly Organization Mission Statement : Small Champions is a non-profit organization committed to enhancing and improving quality of life by providing sports and recreational opportunities for eligible youth with multiple disabilities who are residents of Eagle County, Colorado. Individuals receive needs based instruction to support their developmental progress. We collaborate with and educate community organizations, and generate sustainable funding and services. Organization fiscal year-end: : 2018-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : Cash and In-kind Amount of Contribution Requested : $3,000 In- Kind Request : 70 Day Parking Passes and the use of the Lionshead Welcome Center as our morning/afternoon meeting location. Who currently funds your organization? : Vail Resorts Epic Promise, Town of Vail, Town of Avon, Eagle County, United Way of Eagle River Valley, Eagle County School District, Roubos Family Foundation, Slifer Smith Frampton Foundation, Vail Valley Cares, Vail Valley Surgery Center, as well as many individuals and local businesses. How will the contribution be used? : Parking passes will be used by the parents and coaches of our disabled and special needs children who participate in our Small Champions Ski and Snowboard program on 9 "off-peak" Sunday's during the 2018-19 winter season. Parents volunteer during the day (at Eagles Nest), coaches are with the children during the ski day on Vail Mountain. Our cost for 1 Small Champion to participate in our 2018-19 program is $3,000. A grant of $3,000 would allows us to fund 1 of our Small Champions for the 2018-19 program year. How does your request support item 1C of the Contribution Policy (See above) : Small Champions provides a significant positive impact on the community by providing an opportunity for children of Eagle County that are challenged with physical, cognitive, and multiple disabilities to be part of a group from the same community that meets often to enjoy sports, grow, learn, and have fun. It is very important for our Small Champions to have a peer group, and for their families to forge friendships enabling them to help each other. The program is an enormous benefit to the families of the children (many of whom volunteer and participate in the program). There is no other outlet in Eagle County where they are able to interact with other families and support the physical development of their child. Small Champions also recruits volunteers from the community that are available to offer assistance and their friendship while experiencing a sport with participants. The final outcome is a sense of accomplishment and belonging for each participant that begins with learning a sport. No other program exists in the Eagle Valley to provide these services for these children. Please Upload Organization Balance Sheet : 2018 05 BS condensed.pdf Please Upload Organization Income Statement : 2018 05 P&L condensed.pdf Linked Form : smallchampions@gmail.com Submission Date : 2018-06-28 Submission Date : December 4, 2018 - Pap 465 0 8/22/2018 Created by : integrations+23268@zenginehq.com Record ID # : 6745622 Last change : 2018-06-28T21:57:21+0000 December 4, 2018 - Pa§@ 466 0 3:30 PM 06/28/18 Accrual Basis Small Champions, Inc. Balance Sheet As of May 31, 2018 ASSETS Current Assets Checking/Savings 1st Bank -Small Champions, Inc. Wells Fargo Investment Total Checking/Savings Total Current Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Other Current Liabilities Prepaid Golf Tournament Fees May 31, 18 234,796.70 158,871.12 393,667.82 393,667.82 393,667.82 1,000.00 Total Other Current Liabilities 1,000.00 Total Current Liabilities 1,000.00 Total Liabilities 1,000.00 Equity Retained Earnings Unrestricted Net Assets Net Income 347,976.65 87,256.81 -42,565.64 Total Equity 392,667.82 TOTAL LIABILITIES & EQUITY 393,667.82 Page 1 December 4, 2018 - Page 467 0 3:30 PM SmaII Champions, Inc. Profit & Loss January through May 2018 06/28/18 Accrual Basis Ordinary Income/Expense Income Contribution and Grant Income Program Fee Income Total Income Gross Profit Expense SmaII Champions Program Expense Bank and Credit Card Fees Jan - May 18 41,785.45 250.00 42,035.45 42,035.45 83,612.53 24.00 Dues and Subscriptions 375.00 License, Permit and Filing Fees 10.00 Operations 509.57 Software Expense 69.99 Total Expense 84,601.09 Net Ordinary Income -42,565.64 Net Income -42,565.64 Page 1 December 4, 2018 - Page 468 0 8/22/2018 Vail Junior Hockey Association dba Vail Eagle Hockey Association, Vail Mountaineer Hockey Club Kipp Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Vail Junior Hockey Association dba Vail Eagle Hockey Association, Vail Mountaineer Hockey Club First Name of Contact Person : Denise Last Name of Contact Person : Kipp E-mail Address : denisekipp@gmail.com Mailing Address : PO Box 2591 City : Edwards December 4, 2018 - Pa64469 c 8/22/2018 State : US -CO Zip : 81632 Telephone Number : 9703764395 Members and Titles of your Governing Board : Jeff Place, President (president@vailmountaineers.org 970-331- 1925) Blake Putnam, Vice -President Paul Backes, Treasurer Mike Suhadolink Bryan Desmond John Michael Liles Trista Sutter Kristi Hill Mick Kelly Organization Mission Statement : The Vail Mountaineers is a Program of Excellence committed to developing character through youth hockey. Our values include the principles of respect and sportsmanship with an emphasis on fun in a safe and healthy environment with both recreational and competitive levels of play. Organization fiscal year-end: : 2018-06-30 Are your books audited? : No What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : In- Kind Services and Facilities Only In- Kind Request : The Vail Mountaineer Hockey Club (VMHC) is respectfully requesting in-kind support related to facility use and ice time at Dobson Ice Arena Who currently funds your organization? : Our programs are 60% funded by player fees. The other portion comes from sponsors, fundraisers, government entities and foundation grants. How will the contribution be used? : A. 6 day usage of Dobson Arena throughout the 2018-2019 year to support general program initiatives (non -hockey) and community fundraisers. Use may include but is not limited to: Opening Season Kickoff Fall 2019, End of Hockey Season gathering (families and players) spring 2019. Additional days on a "TBD" basis for potential celebrity fundraising events and/or community events. Days shall be restricted to non - peak or off season dates as per your direction. This September we will be using the Dobson Ice Arena for what has evolved from Casino Night at Donovan Pavilion in 2017 to Pucks, Pars and Poker in 2018. We hope that the Pucks, Pars and Poker in 2018 will continue as our annual event for the club. Pucks, Pars and Poker will consist of the following in 2018, and 2019 (dates TBD) as well: 1- Friday September 14: Casino Night at Dobson Arena 2 - Saturday September 15: Colorado Avalanche Alumni adult and youth skate clinics approximately 4 hours of skate time. Evening game- Colorado Avalanche Alumni vs. Yeti game ticketed event and open to the public. 3- Sunday September 16: Vail Golf Course tournament fundraiser with special guests from the Colorado Avalanche alumni joining foursomes of local guests. B. 4 weekends of complimentary ice time at Dobson Arena (Friday through Sunday) in November 1-3, 8-10 & 15-17 for our annual Sportsmanship Tournaments. C. 1 week of complimentary ice time at Dobson Arena Monday -Friday 8 am - 5 pm, June 24-28, 2019. This request will support our premier Summer Precision Skills Clinic. D. 1 Town of Vail parking pass for our Director of Hockey, who maintains an office at Dobson Ice Rink. This in-kind donation will allow the VMHC to sustain and grow its operations in a much more efficient manner with little or no impact on the TOV revenue streams. E. Vail Mountaineers Hockey Club in -ice logo placement at Dobson Ice Arena. How does your request support item 1C of the Contribution Policy (See above) : The Vail Mountaineer Hockey Club (VMHC) is one of the region's premier youth non-profit entities which provides a material on-going benefit for local youth, local businesses and the community at -large. The program is operated in close partnership with Dobson Ice Arena; the VMHC is the largest single client of the arena with expenditures in excess of $60K each year. Our signature event, the Annual Sportsmanship Tournament, attracts 70 youth hockey teams from across the nation during the first three weeks of November. This tournament provides an economic boost to the Vail Valley in an otherwise slow period prior to the Thanksgiving holiday, and has been held in Vail for the past 40 years. Hockey December 4, 2018 - Pa§4 470 0 8/22/2018 players from the state of Colorado, and Utah have all played in this tournament. We also have teams from all over Denver, Breckenridge, Steamboat Springs, Telluride, Glenwood Springs, Aspen and even more of the surrounding areas of Colorado. Our goal next season is to have several spaces in each player division for out of state teams to participate. Vail presents itself as a standalone top tier location for everyone to travel to for youth hockey. We had more complements last year than ever before based on our customer service, detailed map of Vail and our hospitality. We also bring in new families who can see Vail for the first time and want to come back because of how friendly everyone is and how easy it is to get from place to place with the bus system. We co -promote our tournament with our rink board sponsors to drive business back to Vail. We have signage up at local restaurants about our tournament. We provide diversity by hosting all ages and an all team tournament from Squirt age to Midget (8-17 year olds). We also have a scholarship fund dedicated to help families bring their children into hockey who cannot afford to do so financially. We use this tournament as a vehicle to teach youth about "Sportsmanship" and continuously remind them to adhere to mutual respect for one another during these games and beyond. The Sportsmanship Tournament's direct economic impact to the Town of Vail and the business community is estimated at approximately $2.5 million annually as follows: Visitation Metric Total visiting hockey teams 70 Players & coaches / team 17 Additional family members / team 51 Total attendees / team 67 TOTAL VISITORS IN ATTENDANCE: 4,760 Lodging & Ancillary Revenue Metric Overnight stays / team 2.2 Room nights / team 2,618 Average room rate $150 TOTAL LODGING REVENUE GENERATED: $392,700 Ancillary spend per person / day $200 TOTAL ANCILLARY SPEND: $2,094,400 TOTAL DIRECT ECONOMIC IMPACT: $2,487,100 Hosting this annual tournament costs the club approximately $50K each year in direct tournament expenses; tournament ice time alone represents 50% of the expense. The complimentary ice time will directly support our annual tournament, as well as the economy of the TOV during a regularly slow time of the year. This tournament is not the only time the VMHC is driving people into Vail. We host over 47 hockey games during the regular season at Dobson Arena with teams traveling from all over Colorado. This also provides an economic impact on tourism with hotels, shopping, skiing and dining during the weekends from November through March. We cannot precisely testify to the amount that each family will spend during these weekend trips to Vail, yet we have estimated the total direct economic impact to be approximately $150K (total estimate of visitors each winter season - 900). We are working very hard to ensure that the inaugural Pucks, Pars and Poker event happening the weekend of September 14th, 2018 will grow into a signature event for the club. In partnering with the Colorado Avalanche Alumni Association, we will be bringing some of Colorado's most well-known hockey players to Vail for a weekend of exciting events. John Michael Liles, a new Vail homeowner, previous Avalanche hockey player, and a newly elected member of the VMHC board will be participating in every event alongside some of his favorite professional teammates. We are confident that they alone will bring in hockey fans and families from all over the region. Planned events taking place include, but are not limited to, Top Shelf Casino Night at Vail's own Dobson Ice Arena, an Avalanche alumni vs. Yeti Hockey game, youth and adult skating clinics taught by Avalanche alumni, and a street hockey initiative called Game On that comes with it's own fully Avalanche branded pick up truck, trailer, and street hockey rink that encourages kids to get out and play. We are eager to share more with the TOV as we solidify plans for this exciting weekend. In addition to the above two named events, the VMHC is now offering a premier training camp — the Precision Skills Clinic - during the last week in June. This clinic is now in its third year and growing. The first year we had approximately 40 skaters, the second year we had 60 skaters and added a new high school age group. This past June we had over 70 skaters, with a diverse group of coaching recruits. We predict the numbers will continue to grow each year. Our 5 year plan is to have an overnight clinic incorporating hiking, biking, rafting, and other events to become a destination sports camp in Vail right before the 4th of July weekend. We are requesting ice time to help manage costs and continue to produce a Destination Hockey Clinic for youths ages 8-17 in early summer. The VMHC currently provides a world-class experience for approximately 180 players and families within the Vail Valley. The program has established a fiscal policy which mandates that 60% of program fees are generated through player registration. The remaining 40% is 'subsidized' through various fundraising initiatives. As such, we are highly dependent on partnerships within the community and our volunteers. Requests are submitted to support our general program expenditures and to support ongoing efforts to create a Program of Excellence for the youth of our community. Our request for a VMHC in -ice logo is warranted to show our commitment to partnership and to share December 4, 2018 - Pad4 471 0 8/22/2018 our love of hockey and the TOV as one unit. We want to be recognized as a partner and customer of VRD and the TOV. Our logo would greatly support our club marketing to youth who visit Vail and our local youth hockey through the VRD and WECMRD Mini Mite and Mite programs. We share your TOV mission by our commitment to vibrancy in the 4th of July Parade. Each year we enter an Award Winning Float in our category. The children love to walk in the parade and hand out candy. We are proud to wave our colors and show our Vail Mountaineer pride in the yearly parade. We also continually have teams asking when registration begins because they do not want to miss our Vail Tournament. Our town is one of a kind and we feel we help promote this great environment with our hockey program and Sportsmanship Tournament. Lastly, our team is comprised of hockey players from up and down Eagle County from Gypsum to East Vail. We have the name Vail in our Club name for a reason. We strive to brand for both Vail and the club as one group united under the same banner. We represent Vail and our name with pride and only want to enhance your image and yours. We are the biggest customer of Dobson Arena spending over $60,000 a year in ice payments and dasher boards. We continue to expand our numbers as our club numbers grow, subsequently needing more ice time to accommodate our membership. We are growing and we greatly need your assistance to sustain our payment structure for all the hockey families. Please Upload Organization Balance Sheet : Balance_Sheet_Report VMHC.pdf Please Upload Organization Income Statement : Profit_and_Loss_Report VMHC.pdf Linked Form : denisekipp@gmail.com Submission Date : 2018-07-02 Submission Date : 2018-07-02 Created by : integrations+23268@zenginehq.com Record ID # : 6785324 Last change : 2018-07-02716:17:35+0000 December 4, 2018 - Pad4 472 0 Vail Mountaineer Hockey Club BALANCE SHEET As of May 31, 2018 TOTAL ASSETS Current Assets Bank Accounts 1001 Alpine Bank Ops x2240 83,898.93 1001.10 QB - Intuit Merchant - OLD 0.00 Total 1001 Alpine Bank Ops x2240 83,898.93 1010 Alpine High Yield x3069 129,710.72 1015 Alpine Registration x7749 6,437.23 1020 1st Bank -Sponsorship x1204 0.00 1035 1st Bank Vail - Raffle Account 0.00 Alpine Uniforms x8168 21,004.68 Edward Jones x7844 - Gift of Hockey 1,060.92 PayPal VMHC 3,740.47 Petty Cash 500.00 Total Bank Accounts $246,352.95 Accounts Receivable 12 Accounts Receivable 22,761.80 Total Accounts Receivable $22,761.80 Other Current Assets 12000 *Undeposited Funds 0.00 1230 Error Credit Cards 0.00 1310 Hockey Director Fee Advance 0.00 1899 Undeposited Funds (OLD) 0.00 Total Other Current Assets $0.00 Total Current Assets $269,114.75 Fixed Assets 15 Furniture, Fixtures and Equipment 1510 FFE - Office 1,144.15 1520 FFE - Jerseys 43,102.60 Jersey Depreciation -33,532.88 Total 1520 FFE - Jerseys 9,569.72 Total 15 Furniture, Fixtures and Equipment 10,713.87 Total Fixed Assets $10,713.87 Other Assets 18700 Security Deposits Asset 500.00 Total Other Assets $500.00 TOTAL ASSETS $280,328.62 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable 20000 Accounts Payable Accrual Basis Friday, June 29, 2018 05:29 PM GMT -7 0.00 December 4, 2018 - PI/de 473 0 TOTAL Total Accounts Payable Total Current Liabilities Total Liabilities Equity 2930 Unrestricted Net Assets 30000 Opening Balance Equity {3} Net Income Total Equity TOTAL LIABILITIES AND EQUITY $0.00 $0.00 $0.00 200,181.67 37,286.33 42, 860.62 $280,328.62 $280,328.62 Accrual Basis Friday, June 29, 2018 05:29 PM GMT -7 December 4, 2018 - P4de 474 0 Vail Mountaineer Hockey Club PROFIT AND LOSS July 2017 - May 2018 TOTAL Income 30 Program Income 31 Youth Program Income Girls U12 Program 9,045.00 Girls U14 Program 13,385.00 Girls U19 Program 5,225.00 House Rec Program 7,200.00 U10 Squirt Program 42,050.00 U12 Pee Wee Program 50,995.00 U14 Bantam Program 38,175.00 U18 Midget Program 11,240.00 Total 31 Youth Program Income 177,315.00 Uniform Rental 8,550.00 Volunteer Fees 1,200.00 Total 30 Program Income 187,065.00 321 Clinics & Misc Programs 9,520.00 351 Tournaments Commissions 11,113.83 Retail Sales 3,222.65 Team Entrance Fees 107,473.25 Tournament Sponsorship 12,966.80 Total 351 Tournaments 134,776.53 40 Fundraising Income 4340.00 Direct Public Support 4340.10 Business Contributions 28,500.00 Gift of Hockey Donations 560.00 Total 4340.00 Direct Public Support 29,060.00 4350.00 Government Grants 4350.30 Local Government Grants 7,500.00 Total 4350.00 Government Grants 7,500.00 4610.00 Other Types of Income Apparel Sales Income 380.00 Total 4610.00 Other Types of Income 380.00 4700.00 Special Events Income 48,555.63 Total 40 Fundraising Income 85,495.63 4500.00 Investment Income 4510.10 Interest -Savings, Short-term CD 134.37 Total 4500.00 Investment Income 134.37 Total Income $416,991.53 Cost of Goods Sold Clinic & Camp Direct Expenses 8,218.00 Fundraising Direct Expenses Accrual Basis Friday, June 29, 2018 05:30 PM GMT -7 December 4, 2018 - PI/de 475 0 TOTAL In-kind Gift Consumed Rink Board Expenses Special Events Production Expenses Total Fundraising Direct Expenses Program Direct Expenses 5140.50 Tournament Fees Coach Travel Reimbursement Coaching Apparel Coaching Fees League Fees Officiating Expenses Officiating Travel Total Officiating Expenses Program Ice Rental Ice Rental - Dobson Ice Rental - EPIR Total Program Ice Rental Total Program Direct Expenses Scholarship Awards Tournament Direct Expenses Retail Sales Costs Tournament Ice Tournament Officiating Tournament Production Expenses Total Tournament Direct Expenses Total Cost of Goods Sold GROSS PROFIT Expenses 50 Program Expenses 5100.00 Misc Team Expenses 5300.00 Coaching Admin Expenses 5610.10 Program Meeting Expenses 5720.10 Program Clinics & Camps Club Uniforms & Apparel Hockey Supplies & Equipment Total 50 Program Expenses 60 Administrative/ General Expense 6019.10 Bad Debt 6022.10 Bank Charges & Fees CC Processing Fees Total 6022.10 Bank Charges & Fees 6043.10 Taxes, Fees, & Licenses 6056.10 Office Supplies 6057.10 Postage, Mailing Service 6060.10 Printing and Copying 6083.10 Admin Travel 621 Contract/Outside Services 6220.10 Hockey Director Fees 2,550.00 1,400.00 14, 464.99 18,414.99 24, 616.46 20,017.37 1,898.06 14, 557.50 2,350.00 8,724.45 227.47 8,951.92 57,120.00 54, 818.75 111,938.75 184,330.06 2,887.50 1,110.56 20,879.00 24, 511.96 8,187.29 54,688.81 $268,539.36 $148,452.17 467.25 0.00 1,512.74 3,722.88 4,920.00 2,283.47 12,906.34 3,549.06 329.22 856.45 1,185.67 20.00 1,161.67 94.00 206.69 490.96 65,032.26 Accrual Basis Friday, June 29, 2018 05:30 PM GMT -7 December 4, 2018 - Fide 476 0 TOTAL Administrative Services 6,273.00 Total 621 Contract/Outside Services 71,305.26 Dues & Subscriptions 1,340.00 Marketing 1,920.82 Communication 126.00 Promotion Event Expense 315.60 Total Marketing 2,362.42 Meeting Expenses 1,968.96 Training & Development 380.00 Total 60 Administrative/ General Expense 84,064.69 Total Expenses $96,971.03 NET OPERATING INCOME $51,481.14 Other Expenses 6035.10 Depreciation Expense 8,620.52 Total Other Expenses NET OTHER INCOME NET INCOME $8,620.52 $ -8,620.52 $42,860.62 Accrual Basis Friday, June 29, 2018 05:30 PM GMT -7 December 4, 2018 - PNde 477 0 8/22/2018 Skating Club of Vail Bruno Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Skating Club of Vail First Name of Contact Person : Susan Last Name of Contact Person : Bruno E-mail Address : scvclubinfo@gmail.com Mailing Address : PO Box 416 City : Vail State : US -00 Zip : 81659 December 4, 2018 - Pa64 478 c 8/22/2018 Telephone Number : 9703903896 Members and Titles of your Governing Board : President - Susan Bruno Secretary - Samantha Snyder Treasurer - Carol Ewers Board Member - Sheila Sandoval Organization Mission Statement : SCV is driven by the following pillars: Be Safe. Have Fun. Provide Support. Create Opportunity. Organization fiscal year-end: : 2018-06-30 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : In- Kind Services and Facilities Only In- Kind Request : We would like to request 10 days of Ice Time @ Dobson Ice Arena Who currently funds your organization? : Membership and entry fees, ticket revenue and some nominal community fund raising. How will the contribution be used? : For the Vail Invitational Competition in July and the annual Winter Ice Show in December. Without this in kind contribution to our club we would never be able to provide these competitive and performance based opportunities for our local skaters. The show and the Vail Invitational not only benefit our skaters but also many guests and visiting competitors. How does your request support item 1C of the Contribution Policy (See above) : These events have been part of the community for 40+ years. They continue to engage locals and draw guests, competitors, performers and their friends and family from around the world. Please Upload Organization Balance Sheet : IMG_1875.jpg Please Upload Organization Income Statement : IMG_1876.jpg Linked Form : scvclubinfo@gmail.com Submission Date : 2018-06-29 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6782001 Last change : 2018-06-29T14:40:00+0000 December 4, 2018 - Pa0 479 0 Pm The Skating Club of Vail, Inc Balance Sheet As of April 30, 2016 ASSETS Current Assets CheckinglSavings 1st Bank 229-043-9827 17,290.21 Community Bank MMDA Acct 1,868.98 SCV Scholarship Fund 1,580 35 SCV Scholarship Fund CD 20,170 73 Sue Nott Memrl Schlrship-ComBk 9,085.70 Total Checking/Savings 49,995.97 miiimmow Apr 30, 16 Accounts Receivable 785.53 Accounts Receivable Total Accounts Receivable 785.53 Total Current Assets 50,781.50 TOTAL ASSETS 50,781.50 LIABILITIES & EQUITY Equity Chris LeBeau Fund Retained Earnings Sue Nott Endowment Fund Net Income Total Equity TOTAL LIABILITIES & EQUITY 400.00 65,196.44 10,056.44 -24,871.38 50,781.50 50,781.50 December 4, 2018 - Page 480 0 Basis The Skating Club of Vail, Inc Profit & Loss May 2015 through April 2016 May '15 - Apr 16 Income Advertiserslsponsorships 0.00 Credit Card Fees 25,00 Exhibition 144.00 Ice income 2,040.90 Interest Income 19.47 Membership Income 1,850.00 Non-SCV Skater 422.50 Show Income Skater Fees 5,103.00 Show Income - Other 10,685.00 Total Show Income 15,788.00 Testing Income 1,822,00 Vail Invitational 44,621.31 Total Income 66,733.18 Gross Profit 66.733.18 Expense Accounting Fees Bank Fees Banquet Class Expense Coaches Ice/SCV Class Expense Insurance - Liability, 0 and 0 Legal Fees Membership Dues Expense Parade Reconciliation Discrepancies SCV Jackets Show Expense 77 Costumes Director/Coaching DVDNid eography/Photogra phy Misc Program Set/Props Tights Show Expense - Other Total Show Expense S upplies/Postage/Copies Testing Expense Vail Invitational Expense Food - Judges IJSISupplies/Misc1P rog ra m Lodging/Travel Vail Invitational Expense - Other 837.51 207.04 1,172.52 3,005.00 1,195.50 27,577.50 1,399.00 1,314.46 2.226.00 314.56 6,963.62 457.95 0.00 4,136.61 7,208.25 400.00 280.00 47.14 5,606.60 1,004.70 771.01 19,454.31 544.20 816.04 3,770.00 2,897.03 16,482.67 723.31 Total Vail Invitational Expense 23,873.01 Website 246 34 Total Expense 91,604 56 Net Income -24,871.38 December 4, 2018 - Page 481 0 8/22/2018 Special Olympics Mikolasy Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Special Olympics First Name of Contact Person : Kathy Last Name of Contact Person : Mikolasy E-mail Address : chilihorse@hotmail.com Mailing Address : PO Box 3724 City : Eagle State : US -00 Zip : 81631 December 4, 2018 - Pa64 482 c 8/22/2018 Telephone Number : 9703903816 Members and Titles of your Governing Board : N/A Organization Mission Statement : The Mission of Special Olympics Colorado (SOCO) is to provide year round sports training and athletic competition in a variety of Olympic type sports for children and adults with developmental disabilities, eight years of age and older, giving them continuing opportunities to develop physical fitness, demonstrate courage, experience joy, and participate in a sharing of gifts, skills and friendship with their families, other Special Olympics Athletes and the Community. Organization fiscal year-end: : 2018-12-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : In- Kind Services and Facilities Only In- Kind Request : 50 parking structure passes to be used by Volunteers on each Sunday of our training starting the first Sunday in January and going through the end of the ski season. Who currently funds your organization? : We receive limited funding from State of Colorado Special Olympics and also from our Regional Office in Glenwood Springs. We occasionally get private donations. Otherwise our Volunteers not only volunteer their time but will contribute funds if we need money for additional things like end of the season picnic or equipment for any of our Athletes. Vail Resorts, through the Epic Promise Program, donates to us our life tickets and the use of the race course on Vail Mountain. How will the contribution be used? : Local Special Olympics serves the special needs population of Eagle County and the passes will be used for our dedicated Volunteers. We appreciate all our Volunteers do and it is wonderful to be able to help them with parking while they are working with and training our Athletes during winter training each Sunday in preparation for our Regional and State Competitions. How does your request support item 1C of the Contribution Policy (See above) : In addition to Special Olympics Mission Statement, this promotes community awareness and interaction with Eagle County's Special Needs Population, which we see again and again as a win-win situation for everyone involved. We try to provide opportunities for our Athletes to be able to participate in the sports and recreational activities that the Vail Valley offers. Please Upload Organization Balance Sheet : Echo Grant Attachments (1).odt Please Upload Organization Income Statement : Echo Grant Attachments (1).odt Linked Form : chilihorse@hotmail.com Submission Date : 2018-06-29 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6785877 Last change : 2018-06-30T01:55:57+0000 December 4, 2018 - Pa§4 483 0 8/22/2018 Foresight Ski Guides, Inc. Davis Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : Foresight Ski Guides, Inc. First Name of Contact Person : Mark Last Name of Contact Person : Davis E-mail Address : mgd5280@gmail.com Mailing Address : PO Box 882 City : Vail State : US -00 Zip : 81658-0882 December 4, 2018 - Pa64484 c 8/22/2018 Telephone Number : 3035066965 Members and Titles of your Governing Board : 2018 Board of Directors Mark G. Davis Founder and President (non voting), Denver Steve Sommers Secretary; Of counsel, Sweetbaum, Sands, and Anderson, PC, Denver Tom Ruygrok, CPA Treasurer; President, Causey Demgen & Moore, Inc., Denver Lew Sapiro Former owner, Breeze Ski Rentals, Denver Pat Manginelli Principal, Manginelli Consulting, St. Petersburg FL Ann Wei Manager, Asset Management, Navarro Research & Engineering, Inc. Denver Bill Murphy Consultant and Foresight Ski Guides Sr. Guide, Lakewood David Lane Consultant, former independent Pepsi bottler, Paradise Valley, AZ Eddy Braucht Director of Revenue Management, Vail Marriott, Vail H. Scott Speedy Senior Director of Retail 1 Colorado Resorts, Vail Resorts Retail, Vail Louis Tutt Executive Director, Association for Education and Rehabilitation of the Blind and Visually Impaired, Alexandria, VA Harry "Skip" Bower Managing Director, Harry S. Bower, LLC a registered investment advisory firm Janet Masto Sr. Managing Partner, Thermacoat LLC, Littleton Jason Roeder CFO, Cordant Health Solutions, Denver Linda Witte Fmr. Teacher of the visually Impaired, Manitou Springs Advisory Board Linda Hill Owner, Hill Aevium Integrated Marketing, Edwards CO John Dawsey Vice President/General Manager at Colorado Mountain Express, Vail Christine Soto Principal, Christine Soto Philanthropic Consulting, Denver Ginia Paige Development Coordinator, Denver CO Lauren Witte Lauren Witte, Director of Client Satisfaction, Optimetra, Inc., Colorado Springs Nicholas Witte Reservoir Engineer, Four Point Energy, Denver Organization Mission Statement : The mission of Foresight Ski Guides is "to promote fitness, athletic skills, personal achievement, self-confidence and self-esteem for individuals who are blind or visually impaired by providing challenge recreation opportunities through affordable access to snow sports. Organization fiscal year-end: : 2018-09-30 Are your books audited? : No What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : In- Kind Services and Facilities Only In- Kind Request : An in-kind contribution of 4 "blue" level parking passes good for use during the 2018/19 ski season. Who currently funds your organization? : Foresight receives corporate support, individual support, and funding from private and community foundations and organizations, including Vail Resorts, EpicPromise Foundation, Vail and Edwards Rotary clubs, Safeway Foundation, El Pomar Foundation, Virginia Hill Foundation, Jelm Foundation and the Lane Foundation. Foresight Ski Guides Board of Directors, VIPs make donations as do school districts and parents of VIPs. How will the contribution be used? : Foresight is grateful for the support that the Town of Vail has provided for its transformative, guided skiing program for blind and visually impaired individuals. With this application, Foresight respectfully requests 4 parking passes (an increase of 2 over last year) so that it can expand access to its transformative, recreational and educational experience for individuals who are blind. Foresight provides guided - skiing and snowboarding for blind and visually impaired children and adults. The program is based in Vail thanks to a long-standing relationship between Vail Resorts, the Town of Vail, Vail residents businesses and non profit organizations and Foresight. Foresight relies on the generous in-kind contributions of Vail Resorts and other Vail businesses, as well as the service of highly -skilled volunteers (herein referred to as "guides" and "shadows") to offer a high-quality, accessible challenge recreation program for blind community members. Foresight provides parking to its volunteer ski guides and shadows, half of whom drive from Denver and need to be parked and ready to meet Foresight's Visually Impaired Participants (VIPs) by 8:30 a.m. regardless of inclement weather, traffic, road closures and other challenges. Local volunteers usually take public transportation (bus) or car pool as Foresight strongly encourages car-pooling for both environmental and financial reasons. Over the last 10 years, Foresight has December 4, 2018 - Pa§4 485 0 8/22/2018 doubled the number of blind individuals participating in its program, and it is fully committed to continuing that growth in service to the community. The skilled volunteers that Foresight's recruits and trains are critical to offering this unique and empowering program in Vail. Since Foresight pays for the volunteer ski guides' parking, support from the Town of Vail is a significant help in off -setting out-of-pocket parking expenses. An additional 2 parking spots per season will help ensure Foresight's valuable volunteers are able to access the mountain and provide support to an ever-growing number of blind skiers and snowboarders. How does your request support item 1C of the Contribution Policy (See above) : Foresight's goals, objectives, mission, and implementation of its program are well -aligned with the Town of Vail's mission. With the more than 200 VIP skier days forecast for the 2018-2019 ski season that this request covers, Foresight expects to generate a total of 1,000 additional skier days that would not come to Vail without the Foresight program. The 5:1 ratio of additional skier days includes friends, family, and guides who would not be here if not for the Foresight program. Only Foresight's blind skiers receive products and services donated by generous local sponsors (lift tickets, equipment, lodging, and transportation). The remaining guests, who are friends and family of Foresight's VIPs, typically do not receive discounted services and spend money in the Town of Vail that otherwise would go elsewhere. Out-of-town ski guides would not necessarily ski Vail and would not be here as frequently if they were not guiding with Foresight. When Foresight staffs a non -local guide for more than a day on the mountain, Foresight pays their lodging expense. Often volunteers will bring friends and family with them for multiple days at which time they pay for the additional lodging expenses on their own. Foresight provides outreach and volunteer/community service give -back opportunities to the Vail community in a uniquely "Vail" way—on skis and snowboards—enhancing the sense of community that is exclusively Vail's. Foresight's guides are all volunteers. Once trained by Foresight at no out-of-pocket cost to themselves, the guides are asked to give back ten (10) days per ski season as a Shadow or a Guide. Foresight's VIPs and volunteer guides lodge within Vail and, while not engaged in skiing, enjoy many of the other amenities of the area. Lengths of stays average 3-5 days with multiple overnight stays for the VIPs, their families and our guides. Foresight has more than 30 trained volunteer guides and shadows and during the peak parts of our year; when the students and chaperones from the various Front Range school districts, Colorado Springs, and the Colorado School for the Deaf and the Blind are in town, Foresight may have 10-15 guides on the mountain at one time. Foresight makes available unique and satisfying volunteer opportunities for dozens in the local town population, promoting Vail's unique sense of community. Foresight provides the Town of Vail, Vail Resorts and many of corporate partners the chance to support, through in-kind contributions and volunteerism, a program that benefits us all. Foresight brings to the Town of Vail a safe, well-managed, humanitarian program that positively affects our resort community's immediate and future financial and civic health, creating empowered children and adults who leave Vail with a high opinion of our town, its engaged community, and its reputation for progressive social programming. Please Upload Organization Balance Sheet : Draft IS and BS Not Approved 043018.pdf Please Upload Organization Income Statement : Draft IS and BS Not Approved 043018.pdf Linked Form : foresightskiguides@gmail.com Submission Date : 2018-06-28 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6230627 Last change : 2018-06-28T21:22:34+0000 December 4, 2018 - Pad4 486 0 8/22/2018 December 4, 2018 - Pad4 487 0 Foresight Ski Guides: Ste tern n t of Financial P ris ition April 30, 2018 (Unaudited - Not Approved by Board of Diroct rs} A.SSINS A$60ts= Cast, �4, E665 Total dasets 36.1...1565 tiabi�i�i�s= AccCunLs 4,HyFt le Trtal iaDi Tildes LIABILITDES NIET ASSETS $Q Net asses Jar tir~� d, u:ll:rxig«ited $54 BS5 1 otP I ret December 4, 2018 - Page 488 0 Statement of Revenues, Expenses and Net Mslizqg For the Seven Months Ended Aproll 30, 2018 (Unaudited - Not Approved I:y Baard of Director) RiPv' nue ; Corporate prar its $2,868 Corporate sponsorshcps (Ir Kind) 0 Fou d atio res 92.194 Individuals 32,363 Get - Related Party C� Pubfund raisiT:g 14 \lis lly 4,437' P,ea to Mtrnarial o irilerest Ircornr (expbn,;C) 1 Total Revenues 1;31,872 Expcnn Fu r}clira , (Di) C rr p 'is atcc:•n iB en t.rits r' -7,24t) O upanoy (rent, ut;UitGs. elo:9 (4 B44) I I iwebs 4e (2..352 ) In,suraincn. 686) Mei rleiships arab se:riir3i3r% (138) ,4drnihistrnt.ve (1.825) Lilt tickFts (660) Ec iJi nient i+ Lodging Giiid1Pioo (843) c ssoiis (7,367) Outreach M- is (3,252) Frrk,ki .r� Trninniq 0,100) rarisporl ition 16,508; Total Expense Excess revenurips over expenses 4'2,802 Not atnett; at Beg of Fiscal Year {October 1) 22.062 Net assets at April 30, 2018 X6'4.866. December 4, 2018 - Page 489 0 8/22/2018 SOS Outreach Gould Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : SOS Outreach First Name of Contact Person : Rebecca Last Name of Contact Person : Gould E-mail Address : grants@sosoutreach.org Mailing Address : PO Box 2020 City : Avon State : US -00 Zip : 81620 December 4, 2018 - Pa0 490 0 8/22/2018 Telephone Number : 9709269292ext115 Members and Titles of your Governing Board : Dr. Claus Tjaden - Chair; Senior Partner, Martinez Tjaden, LLP Nate Fristoe - Vice Chair; Director, RRC Associates Bill Jensen - Secretary; Chief Executive Officer, Telluride Ski Resort Dave Portman - Treasurer; Executive Vice President - First Bank of Eagle County, CO Professor Buie Seawell; Clinical Professor, Daniel's School of Business, University of Denver Wendy Carey; Executive Vice President / CFO, Seirus Innovation Clark Gundlach; Snowsport Industry Executive Kat Jobanputra; Snowsport Industry Executive Bobby Murphy; Vice President & General Manager, Stowe Mountain Resort Andrew Littman — Director ; Attorney, Stevens, Littman, Biddison, Tharp & Weinberg Mike Allen — Director ; Senior Director, Skier Services Heavenly Mountain Resort Lee Turlington; Chief Product Officer, Canada Goose Dr. Jason Glass; Superintendent, Jefferson County Schools Bill Cotton; President and Owner, Optic Nerve Sunglasses Michael Reger; President, GelTech Solutions Greg Sullivan; Chief Operating Officer, Vail Resorts Retail Organization Mission Statement : SOS Outreach (SOS) is a national youth development nonprofit that inspires youth to make positive decisions for healthy and successful futures. SOS programs are unique in their use of adventure sports, adult mentors, service learning and leadership development to engage participants for future success. Organization fiscal year-end: : 2018-08-31 Are your books audited? : Yes What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : In- Kind Services and Facilities Only In- Kind Request : In-kind support for 25 parking passes Who currently funds your organization? : SOS Outreach continues to diversify funding as the organization evolves and manages continued growth. Funding is secured from foundation grants, corporate partners, individuals, events, fee for service and in-kind contributions. SOS Outreach programs would not be possible without the support from in-kind partner contributions including outdoor gear, lift tickets, and equipment. How will the contribution be used? : SOS Outreach respectfully requests in-kind parking passes to support program implementation on Vail Mountain. SOS seeks 25 individual day passes for SOS program dates over the 2018/2019 winter season. SOS Outreach is a youth development organization headquartered in the Vail Valley that provides opportunities for the most disadvantaged youth in our community to participate in on -hill outdoor adventure activities like skiing and snowboarding. SOS offers scholarship support to youth who would otherwise be economically excluded from these costly activities. During the 2017/18 winter season, SOS Outreach served 512 youth through programs on Vail Mountain. The organization anticipates similar enrollment during the 2018/19 season. The annual contribution of parking passes from the Town of Vail enables the organization to effectively serve youth by eliminating transportation barriers. Prior to your support and partnership, SOS program coordinators were required to arrive at 7AM to drop off all gear that the daily group (anywhere from 15 to 40 youth) would need for the day, before transferring the vehicles out to an outlying lot. SOS is proud to be able to provide all gear necessary to keep our youth warm, dry and safe on the slopes of Vail Mountain, and the in-kind support of the Town of Vail during the 2017/18 winter season allowed for greater opportunities to ensure that youth were receiving the correct sized gear in a timely fashion. Continued access to parking through the in-kind support of the Town of Vail will eliminate the unnecessary time spent by program staff hauling gear to -and -from the mountain and ultimately, enhance the program quality for participating youth. How does your request support item 1C of the Contribution Policy (See above) : SOS partners with local school districts and youth serving agencies to recruit youth who will benefit most from the structure and consistency of the SOS curriculum. Youth are recommended to the organization based on early indicators of behavioral, December 4, 2018 - Pa0 491 0 8/22/2018 academic and personal risk factors that suggest a decreased likelihood of high school graduation. During the 2017/18 season, the three most common risk factors reported by SOS families include: low income families, English as a second language and single parent families. Due to the prohibitively high costs required for participation in the vast majority of winter sports like skiing and snowboarding that dominate the Vail culture, many local families do not engage, despite proximity to Vail and its wide variety of world renowned outdoor recreational activities. This exclusion further exacerbates pre-existing economic segregation in the outdoors, as low-income children of racial minorities continually rank as the least represented demographic in our shared outdoor spaces. In accordance with the Town of Vail's mission statement, SOS Outreach is in a position to bridge this gap and ensure more equitable representation of various diverse populations in the outdoors. Through providing low-cost participation, transportation, costly equipment and lift tickets required for participation in skiing and snowboarding at an extremely reduced rate, underserved youth are introduced to activities their families could never consider otherwise. During the 2017/18 winter season and through the support of the Town of Vail, SOS Outreach facilitated on -hill activities at Vail for 512 participants. Of those participants, 104 reported the following demographic data: 84% of self -identified as an ethnic minority, 66% reported having a household income of less than $40,000 per year, 51% of participants had no health insurance or were enrolled in Medicaid and 38% of participants were from non - two adult households. Through providing the most marginalized youth of the Vail Valley with opportunities to be included the Vail community, SOS effectively reduces the likelihood of youth engaging in harmful behaviors. SOS also contributes to a more diverse population of skiing and snowboarding participants. Long-term organizational evaluation results demonstrate that more than 25% of participants return as lifelong skiers or snowboarders. Please Upload Organization Balance Sheet : BS 6.28.18.pdf Please Upload Organization Income Statement : PL 6.28.18.pdf Linked Form : grants@sosoutreach.org Submission Date : 2018-06-29 Submission Date : Created by : integrations+23268@zenginehq.com Record ID # : 6750186 Last change : 2018-06-29T14:26:45+0000 December 4, 2018 - Pa0 492 0 4:53 PM 06/28/18 Accrual Basis SOS Outreach Balance Sheet As of June 28, 2018 Jun 28, 18 ASSETS Current Assets Checking/Savings 1st Bank of Avon - Checking 1,753.77 1st Bank Vail Liquid Asset 292,676.59 Alpine Bank CD 51,774.34 Petty Cash 100.00 US Bank Checking *1193 9,452.84 US Bank Money Market 241,470.77 Total Checking/Savings 597,228.31 Other Current Assets Prepaid Expenses 3,410.67 Prepaid Insurance 19,437.24 Rent Deposit 1,460.00 Unearned Revenue -175.74 Total Other Current Assets 24,132.17 Total Current Assets 621,360.48 Fixed Assets Accumulated Depreciation -51,878.05 Equipment/Electronics 3,297.97 Furniture - Desks 515.94 Program Equipment 0.10 Vehicles 47,054.00 Total Fixed Assets -1,010.04 TOTAL ASSETS 620,350.44 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable 1,797.44 Total Accounts Payable 1,797.44 Credit Cards Citi *5860 Seth Citi *7689 Scott US Bank *6939 Theresa US Bank *8725 Gillian US Bank *8733 Marty US Bank *9364 Joan US Bank *9372 Rebecca 1,667.88 445.73 83.02 171.60 306.91 29.00 217.88 Total Credit Cards 2,922.02 December 4, 2018 - Page 493 of 509 Page 1 4:53 PM 06/28/18 Accrual Basis SOS Outreach Balance Sheet As of June 28, 2018 Jun 28, 18 Other Current Liabilities Group Health Payable -1,643.10 Total Other Current Liabilities -1,643.10 Total Current Liabilities 3,076.36 Total Liabilities 3,076.36 Equity Fund Balance 486,807.32 Fund Balance - Temp Restricted 169,785.00 Net Income -39,318.24 Total Equity 617,274.08 TOTAL LIABILITIES & EQUITY 620,350.44 December 4, 2018 - Page 494 of 509 Page 2 4:52 PM SOS Outreach 06/28/18 Profit & Loss Accrual Basis September 1, 2017 through June 28, 2018 Ordinary Income/Expense Income Contributions Income Benefactors/Individual Donors Board Donation Corporate Donation Peter Johnson Memorial Fund Sep 1, '17 - Jun 28, 18 167,409.89 20, 623.00 111, 875.22 29, 269.20 Total Contributions Income 329,177.31 Events Income Colorado Eagle River Ride CERR Sponsorship Total Colorado Eagle River Ride Other Events Frisco Rec Room Rental Misc. Fundraisers 1,000.00 1,000.00 6,457.04 44,133.85 Total Other Events 50,590.89 Total Events Income 51,590.89 Fee for Service Summer Programs Monument Trips Specific Summer programs Summer Programs - Other 28,121.95 -104.95 1,397.29 Total Summer Programs 29,414.29 Winter Programs Learn to Ride Durango LTR 1,909.82 Eagle County LTR 19,750.51 Front Range LTR 22,435.39 Leadville LTR 276.78 Pacific NW LTR 17,378.75 Steamboat LTR 2,707.20 Summit County LTR 11,435.16 Tahoe LTR 14,272.17 Utah LTR 16,934.49 Learn to Ride - Other 121.28 Total Learn to Ride 107, 221.55 SnowCore 41,958.41 December 4, 2018 - Page 495 of 509 Page 1 4:52 PM SOS Outreach 06/28/18 Profit & Loss Accrual Basis September 1, 2017 through June 28, 2018 University Durango Univ Eagle County Univ Front Range Univ Leadville Univ Pacific NW Univ Steamboat Univ Summit County Univ Tahoe Univ Utah Univ Sep 1, '17 - Jun 28, 18 3,537.92 37,071.75 17,878.23 3,194.75 1,797.50 3,755.00 24,628.56 21, 926.05 650.39 Total University 114,440.15 Total Winter Programs 263,620.11 Total Fee for Service 293,034.40 Grant Income 279,747.70 Interest Income 1,226.25 Merchandise Sales Soft goods rental (Winter) 115.00 SOS Gear/Merchandise 100.00 Merchandise Sales - Other Total Merchandise Sales Total Income Gross Profit Expense Accounting Advertising/Promotions Trade Shows/Booths Advertising/Promotions - Other 48.99 263.99 955, 040.54 955, 040.54 13,653.69 678.27 5,590.18 Total Advertising/Promotions 6,268.45 AmeriCorps Expense AmeriCorp CAA Staff Award 2,500.00 Americorp VISTA cost share 361.62 Total AmeriCorps Expense 2,861.62 Attorney Fees 1,762.20 Automobile Expense Maintenance 4,350.76 Mileage & Parking 8,052.79 Automobile Expense - Other 1,290.83 Total Automobile Expense 13,694.38 December 4, 2018 - Page 496 of 509 Page 2 4:52 PM SOS Outreach Profit & Loss September 1, 2017 through June 28, 2018 06/28/18 Accrual Basis Bank Service Charges Credit Card Processing Fees Bank Service Charges - Other Sep 1, '17 - Jun 28, 18 2,188.38 104.60 Total Bank Service Charges 2,292.98 Donation 400.00 Dues and Subscriptions 3,823.70 Event Expenses CERR Event Expense 332.98 Faces of SOS Miscellaneous Event Expenses Event Expenses - Other 200.14 2,111.99 1,423.50 Total Event Expenses 4,068.61 Fundraising Expenses 1,818.63 Insurance Automobile Ins Directors & Officers Ins General Liability Ins Health Ins Officer Expense Health Ins Staff Expense Workman's Comp Ins Insurance - Other -568.00 1,057.00 12,269.55 11,608.38 25,199.93 14,067.20 829.59 Total Insurance 64,463.65 Licenses and Permits Office Rent Frisco Rec Room Cleaning 3,309.44 Utilities 3,057.90 Office Rent - Other 40,105.50 377.75 Total Office Rent 46,472.84 Office Supplies Payroll Taxes Postage and Delivery Printing and Reproduction Professional Consulting Fees Other Prof Consulting Fees 7,348.36 51,191.53 6,944.76 7,265.89 8,252.80 Program Mentor Expense 38,893.00 Regional Program Coordinator 18,300.00 Resort Program Coordinator 23,100.00 Teacher 7,500.00 Professional Consulting Fees - Other 9,670.00 Total Professional Consulting Fees Professional Development Program Supplies & Recognition Peter Johnson Memorial Fund Program Recognition 105,715.80 8,350.77 57.25 2,648.30 December 4, 2018 - Page 497 of 509 Page 3 4:52 PM SOS Outreach 06/28/18 Profit & Loss Accrual Basis September 1, 2017 through June 28, 2018 Summer Program Expenses Monument Trip Expenses Summer Permit Fee Summer Program Food Summer Program Expenses - Other Sep 1, '17 - Jun 28, 18 350.00 3,917.80 4,853.96 -529.87 Total Summer Program Expenses 8,591.89 Winter Programs Winter Equipment Rental 762.75 Winter Programs - Other 20,593.03 Total Winter Programs 21,355.78 Program Supplies & Recognition - Other 10,260.96 Total Program Supplies & Recognition 42,914.18 Salaries and Wages Payroll - Executive Director 69,908.22 Payroll - Staff 483,124.34 Payroll Summer Guides 17,865.00 Total Salaries and Wages 570,897.56 Simple IRA 4,782.38 Technology 11,095.25 Telephone 6,168.01 Travel/Lodging/Food 9,725.79 Total Expense 994,358.78 Net Ordinary Income -39,318.24 Net Income -39,318.24 December 4, 2018 - Page 498 of 509 Page 4 8/22/2018 World Figure Sport Society Courtland Kelly Town of Vail 2019 Annual Contribution Request : CONTRIBUTION POLICY All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted electronically. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for annual funding shall be completed and submitted by June 30th by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the Town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier international mountain resort community, we're committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of recreational, cultural and educational opportunities. DISCLOSURE TO ALL APPLICANTS: 1. No money will be disbursed until March 1st. 2. Because of uncertainty of revenue estimates, please note the following possibilities: a) Contribution funding may be reduced based on 2019 revenues. b) The Town of Vail may choose to disburse funding in quarterly installments througho ut 2019. Special event funding will follow the CSE's guideline of payment in thirds pending compl etion of CSE and Town of Vail permitting requirements. 3. Notification of awards will be sent after the Council approves the final budget in Decembe r. GENERAL INSTRUCTIONS: All applications must be submitted by June 30th by 5:00 P.M. Any application received after that date will not be considered. Please complete all fields in this application. No hard copies are accepted. Name of Organization : World Figure Sport Society First Name of Contact Person : Karen Last Name of Contact Person : Courtland Kelly E-mail Address : karen@worldfiguresport.org Mailing Address : 1991 Saranac Ave. #101 City : Lake Placid State : US -NY Zip : 12946 December 4, 2018 - Pa0 499 0 8/22/2018 Telephone Number : 5183043029 Members and Titles of your Governing Board : Karen Courtland Kelly, MA, Olympian, Officer President & Secretary Patrick Kelly, MBA, BEng., Officer, Treasurer, 2x Olympian Speed Skating Slavka Kohout Button, WFS BoD, WFS Hall of Fame, Olympic Coach Janet Lynn, WFS BoD, WFS Hall of Fame, Olympic Bronze Medalist Organization Mission Statement : The World Figure Sport Society, not for profit 501(c)(3) upholds & protects the knowledge & competition of Figure & Fancy Skating worldwide, that heretofore was on the verge of extinction. The pinnacle event is the World Figure & Fancy Skating Championships & Festival on black ice! Organization fiscal year-end: : 2018-05-31 Are your books audited? : No What category of funding are you applying for? (See definations at www.vailgov.com/departments/finance/grant-process) : In-kind Type of Funding Requested : In- Kind Services and Facilities Only In- Kind Request : Dobson Arena Who currently funds your organization? : Public donations How will the contribution be used? : The contribution will be used for Dobson Arena during the 2019 World Figure & Fancy Skating Championships & Festival. All help is greatly appreciated. How does your request support item 1C of the Contribution Policy (See above) : The World Figure Sport Society's World Figure & Fancy Skating Championships & Festival (WFC) directly benefits the entire community of Vail with worldwide promotion of the only World Championship skated and competed on black ice (and complimentary spectator passes). This World Championship brings people from all over the world, including this year an Olympic Champion from Austria, who never considered skating or traveling to Vail. All will travel, lodge, dine, and shop in Vail thus, contributing to affect the community of Vail's future health! At the World Figure & Fancy Skating Championships & Festival all types of skaters (abled & disabled) persons & all ages (World Juniors too) may learn Figure & Fancy Skating and participate in the Championships & Festival events. Thus, this World Championship enhances the sport & culture of Vail as a premier international mountain resort, and adds to a vibrant, diverse economy and community. The World Figure Sport Society adds to the abundance of recreational, cultural, and educational opportunities to enjoy in the off-season in Vail. The 2017 WFC live streaming was seen by people viewing the WFC in Dobson Arena from the USA, Canada, Japan, UK, Russia, Australia, Mexico, Hungary, India, France, Poland, S. Korea, Switzerland, Germany, Finland, New Zealand, Singapore, Egypt, Spain, Luxembourg, Sweden, Taiwan, Ukraine. These stats were provided to World Figure Sport from the data obtained from the live streaming company. This World Figure & Fancy Skating Championships is the only one of its kind that expands the reputation & repertoire of skating by educating the world to the spectacular art & sport originating from the a skater's blade tracings on the ice. The Figure patterns (Fundamental, Special, Creative, Free & Flying Figures) assemble the foundational knowledge of skating. This combined knowledge actually propels more exacting movement to glide with stable/clean edges and correctly builds accurate turn technique. World Figure Sport educates the world to Figure patterns and how skating these precise patterns builds the body & mind to more responsibly fly in the air, thus creating WFS's Fancy Skating. Please Upload Organization Balance Sheet : World Figure Sports Balance Sheet Year End 5-31-17.pdf Please Upload Organization Income Statement : World Figure Sport's P & L 6-1-16 - 5-31-17.pdf Linked Form : karen@worldfiguresport.org Submission Date : 2018-08-08 December 4, 2018 - Pa0 500 0 8/22/2018 Submission Date : 2018-08-08 Created by : integrations+23268@zenginehq.com Record ID # : 7198596 Last change : 2018-08-08T23:13:35+0000 December 4, 2018 - Pa§@ 501 0 6:40 PM 08/08/18 Accrual Basis World Figure Sport Balance Sheet As of May 31, 2017 ASSETS Current Assets Checking/Savings Total Current Assets TOTAL ASSETS World Figure Sport Society Summary Balance Sheet As of May 31, 2017 9,582.34 9,582.34 9,582.34 LIABILITIES & EQUITY Liabilities Current Liabilities Other Current Liabilities 154.58 Total Current Liabilities 154.58 Total Liabilities 154.58 Equity 9,427.76 TOTAL LIABILITIES & EQUITY 9,582.34 Page 1 of 1 December 4, 2018 - Page 502 0 3:04 PM World Figure Sport Society Profit & Loss June 2016 through May 2017 08/06/17 Accrual Basis Ordinary Income/Expense Income Direct Public Support Individ, Business Contributions Direct Public Support - Other Total Direct Public Support Indirect Public Support Other Types of Income Miscellaneous Revenue Total Other Types of Income Program Income Advertising Contribution 4,686.51 FIOWS 9,976.13 Membership Dues 842.71 Program Service Fees 147.89 Scholars of Figures 1,181.70 WFC & FS Ice Segments 3,273.81 WFC Book 2,438.43 WFC Entry 6,991.58 WFC Party 4,299.54 WFC Tickets 1,899.23 WFC Trophy Fund 2,644.74 Program Income - Other 23.97 Jun 16 - May 17 42,106.68 4,000.00 46,106.68 4,853.29 10,118.64 10,118.64 Total Program Income 38,406.24 Total Income 99,484.85 Cost of Goods Sold Cost of Goods Sold 5,717.13 Total COGS 5,717.13 Gross Profit 93,767.72 Expense Business Expenses Advertising and Promotion 4,817.50 Bank Fees 102.00 Business Registration Fees 850.00 Honorariums 300.00 Total Business Expenses 6,069.50 Contract Services Legal Fees Outside Contract Services Contract Services - Other 3,141.00 9,866.60 1,894.83 Total Contract Services 14,902.43 Facilities and Equipment Donated Facilities Equip Rental and Maintenance 34,979.78 701.87 Total Facilities and Equipment 35,681.65 Operations Books, Subscriptions, Reference 1,153.20 Postage, Mailing Service 620.59 Printing and Copying 7,254.33 Supplies 1,614.36 Total Operations 10,642.48 Page 1 December 4, 2018 - Page 503 0 3:04 PM World Figure Sport Society Profit & Loss June 2016 through May 2017 08/06/17 Accrual Basis Other Types of Expenses Franchise Tax Import/Export Fees Jun '16 - May 17 25.00 319.11 Total Other Types of Expenses 344.11 Travel and Meetings Conference, Convention, Meeting 9,090.56 Travel 3,270.68 Travel and Meetings - Other 4,335.16 Total Travel and Meetings Total Expense Net Ordinary Income Net Income 16,696.40 84,336.57 9,431.15 9,431.15 Page 2 December 4, 2018 - Page 504 0 TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Ordinance No. 22, Series 2018, Second Reading, Ordinance providing for the levy assessment and collection of the town property taxes due for the 2018 tax year and payable in the 2019 fiscal year. PRESENTER(S): Carlie Smith, Financial Services Manager ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No. 22, Series 2018. BACKGROUND: The town is required by Colorado state law to certify the mill levy by December 15 of each year. STAFF RECOMMENDATION: Approve or approve with amendments Ordinance No. 22, Series 2018. ATTACHMENTS: Description Mil December 4, 2018 - Page 505 0 TOWN OF VAIL' Memorandum TO: Vail Town Council FROM: Finance Department DATE: December 4, 2018 SUBJECT: Mill Levy Ordinance I. SUMMARY Authorization for the collection of property taxes in 2019 II. DISCUSSION You will be asked to approve the attached mill levy ordinance upon second reading on Tuesday evening. This ordinance authorizes the collection of property taxes in 2019 based upon 2018 assessed valuations of property within the town's boundaries. Eagle County is responsible for assessing values and for collecting property taxes on our behalf. The town is required by Colorado state law to certify the mill levy by December 15 of each year. The attached ordinance has been updated from the first reading to reflect revised assessed valuations from the county. The valuations decreased by 0.057% from earlier estimates, or approximately $2,900 impact to revenue projections. 2019 budget for Property tax is $5.1 million. The property tax authorized by the attached ordinance will generate $5.1 million in revenue in 2019, representing approximately 8% of the town's total revenue. December 4, 2018 - Page 506 0 ORDINANCE NO. 22 SERIES OF 2018 AN ORDINANCE PROVIDING FOR THE LEVY ASSESSMENT AND COLLECTION OF TOWN AD VALOREM PROPERTY TAXES DUE FOR THE 2018 TAX YEAR AND PAYABLE IN THE 2019 FISCAL YEAR. WHEREAS, it is necessary for the Town Council to provide for the levy, assessment and collection of Town ad valorem property taxes due for the 2018 year and payable in the 2019 fiscal year. NOW, THEREFORE, be it ordained by the Town Council of the Town of Vail, Colorado, that: 1. For the purpose of defraying part of the operating and capital expenses of the Town of Vail, Colorado, during its 2019 fiscal year, the Town Council hereby levies a property tax of 4.719 mills upon each dollar of the total assessed valuation of $1,078,408,670 for the 2018 tax year of all taxable property within the Town, which will result in a gross tax levy of $5,089,011 calculated as follows: Base mill levy 4.690 $5,057,737 Abatement levy .029 31,274 Total mill levy 4.719 $5,089,011 Said assessment shall be duly made by the County of Eagle, State of Colorado, as directed by the Colorado Revised Statutes (1973 as amended), and as otherwise required by law. 2. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. 3. 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. 4. The repeal or the repeal and reenactment of any provision of the Municipal Code of the Town of Vail as provided in this ordinance shall not affect any right which has accrued, Ordinance 22, Series of 2018 December 4, 2018 - Page 507 0 any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceedings as commenced under or by virtue of the provision repealed or repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. 5. All bylaws, orders, resolutions, and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution, or ordinance, or part thereof, theretofore repealed. INTRODUCED, READ ON FIRST READING, APPROVED AND ORDERED PUBLISHED ONCE IN FULL, this 20th day of November, 2018. A public hearing shall be held hereon at 6 P.M. on the 4th day of December, 2018, at the regular meeting of the Town Council of the Town of Vail, Colorado, in the Municipal Building of the Town. Dave Chapin, Mayor ATTEST: Patty McKenny, Assistant Town Manager READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED IN FULL this 4th day of December 2018. Dave Chapin, Mayor ATTEST: Tammy Nagel, Town Clerk Ordinance 22, Series of 2018 December 4, 2018 - Page 508 0 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Adjournment 9:00 pm (estimate) TOWN Of UAIL December 4, 2018 - Page 509 0