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Home My WebLink About2012- 3 2012 1st Budget SupplementalORDINANCE NO. 3 SERIES OF 2012 AN ORDINANCE MAKING BUDGET ADJUSTMENTS TO THE TOWN OF VAIL GENERAL FUND, CAPITAL PROJECTS FUND, REAL ESTATE TRANSFER TAX FUND, CONFERENCE CENTER FUND, DISPATCH SERVICES FUND, AND HEAVY EQUIPMENT FUND OF THE 2012 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 2012 which could not have been reasonably foreseen or anticipated by the Town Council at the time it enacted Ordinance No. 21, Series of 2011, adopting the 2012 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, W HEREAS, 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: 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 2012 Budget and Financial Plan for the Town of Vail, Colorado, and authorizes the following budget adjustments: General Fund Capital Projects Fund Real Estate Transfer Tax Fund Conference Center Fund Dispatch Services Fund Heavy Equipment Fund Total $ 188,950 9,917,904 14,241,661 8,885,000 133,159 330,000 $33,696,674 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 Ordinance No. 3, Series of 2012 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 3rd day of April, 2012, and a public hearing shall be held on this Ordinance on the 17th day of April, 2012, at the regular meeting of th Colorado, in the Municipal Building of the town. ATTE T: r i Donaldson, Town Clerk -- v'�\ :�N�� > •' ,: SE� •.... l! O e Town ncil of the Town of Vail, Andrew P. Dal ayor READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED IN FULL this 17th day of April 2012. ATT Donaldson, Town Clerk Ordinance No. 3, Series of 2012 Andrew P. Daly, yor .� OF V- � ��L 'S TO WN 0 F Memorandum TO: Vail Town Council FROM: Finance Department DATE: April 11, 2012 SUBJECT: Ordinance 3-1 St Supplemental of 2012 I. SUMMARY Second reading of Ordinance No. 3, Series 2012 II. DISCUSSION The following changes have occurred since the first reading of this ordinance: General Fund: • The Special Events department budget was increased by $15,000 to fund a voter poll to explore a permanent funding source for "Athletics, Culture and Events" as approved by Council on April 3rd Capital Projects Fund: • Council approved a contract for street improvements to East Meadow Drive on April 3`d Staff requests $380,000 to be included in the budget supplemental for the following items relating to that project: - $320,000 Construction - 40,000 Contingency - 10,000 Materials testing - 10,000 Construction management - $380,000 TOWN OF VAIL 2012 BUDGET ---- --- - - -- -_- -- -- -------- - -------- -- _ _-- ------------- - _ ... __ _ SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND 2012 2012 2011 2011 Variance Original 1st Proposed Amended Actual Fav /(Unfav) Budget Supplemental Amended Comments Revenue LocalTaxes: $ 17,800,000 $ 19,581,415 $ 1,781,415 $ 17,800,000 $ - $ 17,800,000 Sales Tax Split bft Gen'I Fund 8 Capital Fu�d 61/39 54/46 61/39 Sales Tax $ 10,859,000 $ 10,859,000 $ - $ 10,859,000 $ - $ 10,859,000 Pro and Ownershi 5,055,000 5,031,770 23,230 4,232,000 - 4,232,000 SkiLiftTax 3,193,000 3,529,125 336,125 3,492,000 - 3,492,000 Franchise Fees, PenaRies, and Other Taxes 1,087,402 1,073,138 14,264 1,112,753 - 1,112,753 Licenses & Permits 1,040,200 1,136,966 96,766 955,000 - 955,000 Inter overnmental Revenue 1,887,155 2,066,191 179,036 1,911,250 - 1,911,250 Trans rtation Centers 4,411,500 4,023,940 387,560 4,425,000 - 4,425,000 Char es for Services 909,655 962,342 52,687 774,850 - 774,850 Fi�es & Forfeitures 305,000 265,575 39,425 325,000 - 325,000 Earnin s on Investments 194,000 188,848 5,152 116,900 - 116,900 --- - -- --- -- ---- - -- _ _. - - Rental Revenue 869,816 895,872 26,056 869,816 - 869,816 MiscellaneouS and PrOjeCt ReimburSements 375,097 477,845 102,748 207,000 25,000 232,000 $20K VRI reimbursement for CDOT Frontage Rd lease; $SK Crown Castle I al reimbursement Total Revenue 30,186,825 30,5/0,613 323,788 29,280,569 25,000 29,305,569 Expenditures Salaries 13,811,947 13,122,291 689,656 13,679,222 - 13,679,222 Benefits 4,566,277 4,483,006 83,271 4,597,131 4,597,131 Subtotal Com nsation and Benefits 18,378,224 17,605,297 772,927 18,276,353 - 18,276,353 Contributions and Special Events 1,285,750 1,278,453 7,297 1,383,318 105,000 1,488,318 �oK Gran Fondo; $5oK Intercept study of events; $15K Voter poll for ACE ro osed tax increase $86K contract services for accelerated IT projects; $25K Gen'I Liability AN Other Operating Expenses 6,296,981 5,524,989 771,992 6,222,776 158,950 6,381,726 dedudible; $22,95o condo assessment (or Vail Village Inn space; $20K CDOT Frontage Rd lease; $SK Crown Castle legal expert (reimbursed above) Heav E ui ment O ratin Char es 2,212,607 2,196,237 16,370 2,253,304 - 2,253,304 Heav E ui ment Re lacement Char es 546,104 537,417 8,687 547,008 - 547,008 Dis atch Services 537 827 537,827 - 575 706 - 575,706 Total Expenditures 29,257,493 27,680,220 1,577,273 29,258,465 263,950 29,522,415 Revenue Over (Under) Expendkures b04.332 - 2,830.393 2,226�061 22.104 - 238.950 216,846 Transfer to Capital ProJects Fund (1,845,800) (1,845,800) - _ _ Trans(er to Capital Projects Fund for implementation of energy audit - enhancements 2015 World Alpine Skl Champlonships 250,000) 250,000 - (250,000) - (250,000) Pro-cycling event (75,000) (75,000) - (75,000) 75,000 - Eventcancelled 2015 Natlon's Event - - - (375,000) - (375,000) Vail's SOth Mniversary - - - (250,000) - (250,000) Total Expenditures 31,428,293 29,851,020 1,577,273 30,208,465 188,950 30,397,415 Surplus Net of Transfers & New Programs (1,241,468) 659,593 1,901,061 (927,896) (1,091,846) Be innin Fund Balance 22,886,692 22,886,692 21,645,224 1,901,061 23,546,285 Ending Fund Balance S 21,645,224 S 23,546,285 ; 20,717,328 S 22,454,439 EHOP balance included in ending fund balance - $ 690,00o g s90,000 S s9o,000 $ 6s0,000 not s endable -2- TOWN OF VAIL 2012 BUDGET - - - _ _---- --_------ _ - ------ ----- - - - - - -- -- - -- - --- -___. _ _ __ -- ----- ___ --- - SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2012 2012 2011 2011 Variance Original 1st Proposed Amended Actual Fav /(Unfav) Budget Supplemental Amended Project Informatlon Revenue Total Sales Tax Revenue: $ 17,800,000 $ 19,581,415 $ 1,781,415 $ 21,362,830 $ - $ 21,362,830 -- --- -- --- - -- - ---- --- -------- ----- Sales Tax Split between General Fund & 61/39 54/46 61/39 61/39 Ca ital Fund Sales Tax - Ca ital Pro'ects Fund $ 6,941,000 $ 8,956,252 $ 2,015,252 $ 6,941,000 $ - $ 6,941,000 UseTax 731,000 721,002 (9,998) 515,000 - 515,000 Federal Grant Revenue 2,176,364 1,205,465 (970,899) - 828,000 828,000 2011: $1,334,114 for Transit Center; $14,250 for Live Scan grant; 2012:s828K for bridge reconstructlon Other State Revenue 10,000 - 10,000 - - - Virtual Briefin lice rant Lease Revenue 184,500 192,710 8,210 188,160 - 188,160 Per Vail Commons commercial and residential leases Employee Housing Fee-In-Lieu 250,000 249,217 (783) - 70,000 70,000 Recognize YTD collectlons 2011:$577K Wenk case settlement for capital repairs; $203K Holy Cross Commu�ity Enhancement Funds, $55K reimb from Vail homeovmers and $15K from Vail Rec Distrcit for underground utility Project Reimbursement 1,086,163 1,015,645 (70,518) - 174,435 174,435 projects; $175,163 insurance reimb for July fbod; $55,000 insurance reimbursement for LH parking booth accident; $6K sale of elevator LH parking structure; 2012: 5111 K shared costs for 1-70 Noise proJects (homeowners SBK, CDOT E93K and ERWSD;IOK); §28,783 energy rebates; =34,652 reimb from VRD for tenant finishes in Welcome Center oHice space Earnin s on Investments and Other - 147,481 147,481 67,500 - 67,500 Total Revenue 11,379,027 12,487,772 1,108,745 7,711,660 1,072,435 8,784,095 Maintaln Town Assets Bus SheRers 27,900 735 27,165 30,000 - 30,000 Annual maintenance; New sheRer at Simba Run Various repairs including deck topping replacement, expansion joint repairs, ventilation, HVAC, Parking Structures 504,000 333,873 170,127 640,000 - 640,000 plumbing and other structural repairs; Since 2010 there is an offset from VRA (see transfer near bottom of sheet); Starting in 2012 there are estimated energy savings of $SOK per year Re-appropriate 5129K to continue replacement of Bus Barn garage doors; 2012: $152K air handling unit for Municipal bkJg; $83K repairs to wood siding, $SOK PW shop garage doors and $18K Facilities Capital Maintenance 625,000 495,201 129,799 815,000 129,799 944,799 exhaust system at PW Shops; $75K snowmeR boiler system repairs; $38K for Tra�sit office floors and walls; $30K for Comm Dev floors and walls; $30K for Library wood siding and window repairs; Some energy savings $25K per year tor 2012 and 2013 Libra Roof Re lacement 102,840 - 102,840 - - - Included in Libra remodel ro'ect Need to gut plumbing; electrical wiring; roofing, etc.; asbestos and mold remediation; 4 units were Creekside Housing Improvements 160,000 136,525 23,475 385,000 - 385,000 completed in 2010; plan to do 4 more in 2011; in 2012, complete remaining 4 units and replace e�Rerior siding, stairs and decks 2012: $SOK furniture replacement; 2014: $400K to change ventilation 8 improve noise and $270K to Donovan Park Pavilion - - 50,000 - 50,000 re lace heatin /air s stem; 2016 $50K fumiture re acement Vail Vilia e Inn Condo Roof OV Portion 17,000 17,000 - - - - Ca ital assessment from owners' association for s ace owned b town Street Li ht Im rovements 67,500 53,840 13,660 50,000 - 50,000 New street li hts and to refurbish residential li htin On�oing maintenance to roads and bridges including asphaR overlays, patching and repairs; 2012 - Capital Street Maintenance 1,215,979 855,029 360,950 1,000,078 - 1,000,078 2014 were previously updated for recent bid prices (savings of $925K); Assumes that we do not see a dramatic increase from current prices and that reconstruction of neighborhood roads and bridges occurs (without reconstruction, maintenance costs will increase) Relating to fbod repairs: Reconstruct a portion of Rockledge drainage improvements, Big Horn Creek Fbod incident repairs 543,748 194,556 349,192 - 349,192 349,192 culvert repair/replacement at Columbine and Spruce Way, Booth Creek improvements to mitigate future floodin of culverts, tennis courts and la rounds. Fire Truck Fie lacement - - 590,000 590,000 2012 re lace um er truck from 1994; 2014 re lace um r truck from 1999 Audio Visual 41,996 60,136 18,140 - - Mixer board and cameras in the Council chambers for recordin of ineetin s $12K per year for replacement of cameras and recorders (49 cameras and 3 recorders around town Town-wide camera system - - - 12,000 - 12,000 so far; will be adding for Transit and We�ome Centers); Recorders cost $7-SK each; cameras range from $800 - $3800 each -3- TOWN OF VAIL 2012 BUDGET -- --- - -- ---- - -- -- - -- ---- - --- - ____- - _ SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2012 2012 2011 2011 Variance Original 1st Proposed Amended Actual Fav /(Unfav) Budget Supplemental Amended Project Information Supplement for continuation of historical scanning (outside vendor); 2012: Purchase of storage Document Imaging 130,636 141,681 (11,045) 30,000 75,000 105,000 devices (SZOK) remainder for Increased scanning and storege in preparation for the municipal relocation/move (Finance, Comm Dev) Software Licensin 33,640 30,349 3,291 40,000 - 40,000 Annual renewal of software licenses Upgrade Microsoft products on all equipment; renew licenses in future; Costs have increased from Hardware Purchases 65,000 105,450 (40,450) 48,000 46,000 94,000 vendors; 2012 addltion: S16K Ipads purchased for boards; S30K relating to accelerated proJects due to move, mainly related to the town's remote desktop server, or RDS Data Center (Camputer Rooms) 15,000 8,950 6,050 15,000 - 15,000 Based on annual replacement schedule of security and power systems for 3 computer rooms Website and e-commerce 39,000 6,300 32,700 29,000 32,700 61,700 Re-appropriate to continue website redevelopme�t; Internet security & application interfaces Comm Dev ArcGIS S stem 16,000 - 16,000 - - - Web access to town GIS information similar to Coun 's website GiS roduct Fiber O tics in BuiWin s 17,000 2,251 14,749 23,000 - 23,000 Cablin / Network Infrastructure; to re air, maintain & u rade Nerivork u rades 21,000 18,010 2,990 35,000 - 35,000 Com uter network s stems - re lacement c cle eve 3-5 ears Replace infrastructure for 15-year okl phone system; Full cost to replace the phone system curcently Phone System Infrastructure - - - 35,000 - 35,000 on unfunded list until Municipal site redevelopment decision Annual capital maintenance of "County-wide "Computer Aided Dispatch/Records Mgmt System" ; Public Safery System 57,000 60,692 (3,692) 59,000 - 59,000 includes patrol car and fire truck laptops and soflware used to push information to TOV and other agencies; TOV rtion of Intergraph software maintenance Business Systems Replacement 225,000 - 225,000 175,000 225,000 400,000 Replace 15-year okl financial system; continued support to current system questionable; better technob ;$17K for Comm Dev Permit system u ate Town's portion of wireless communication equipment upgrade - Radio tower will be replaced and Radio Tower (Vail R56) - -_- - 30,000 - - 30,000 - 30,000 30,000 bcation moved from outside of Council chambers to outside of Dispatch center _ ViRual Briefin S stem 10,000 9,095 9,095 - - - Police Virtual Briefin e ui ment rant funded Intergraph software upgrade 80,000 - 80,000 - 80,000 80,000 Re-appropriate for TOV portion of upgrede to computer-aided dispatch system - project scheduled for Fall '12 Live Scan Interface 14,250 14,250 - - - - Funded b rant above; Links our Live Scan software to other agencies Police breathalizer replacement - - - 10,000 - 10,000 State mandated replacement of 13-yr ok1 equipment; may eventually be offset with grant revenue - -- -- ----- --- ---- - Police rifle re lacement - - - 21,250 - 21,250 Re lacement of 21- ear old rifles (17 units) -- ---- _.. -- -- -- - Total Malntenance 4,059,489 2,543,923 1,523,756 4,092,328 967,691 5,060,019 Enhancement oi Town Asse s Pending discussion with Vail Resorts re: sharing costs. 2012: LionsHead and guardrail in West Vail on CDOT Required Parking - - - 630,000 - 630,000 N. Ft Rd; 2013: Cascade; 2014: Safewa and Vail Villa e Vail Village Info Booth - - - 1,100,000 - 1,100,000 Remodel, including addition of restrooms and some guest enhancement PuA off lane in front of Vail Village info booth for short term parking and to provide an area for an RV or Vail Vitlage Info Booth pull in lane - - - 250,000 - 250,000 lar er vehicle to ull in for information Re-appropriate to continue proJects; $75K Vansferred from sVeetscape proJect as previously Guest Services Enhancements/Wayfinding 217,800 23,644 194,156 1,100,000 269,156 1,369,156 budgeted for signage. Guest information improvements town-wide, inciuding pedestrian signage, parking structures, banners at VV & LH Deslgn/architecture for remodel of Main Vail statio�; Full proJect included in 2013 budget; Main Vail Fire Station - - - - 50,000 50,000 Includes public restrooms, TOV office space and new roof Ener Enhancements 3,122,715 1.989,694 1,133,021 - 1,133,021 1,133,021 Im lementation of ener audit enhancements includes reimb from VRA, RETT, and GF ; New Fire Truck 253,917 253,900 17 - - - New fire truck for additional station; De sft made in 2010; delive in 2011 Fire E ui ment - - 32,000 - 32,000 $12K Thermal ima e camera for new truck; $20K set of e ui ment for ladder truck East Meadow Drive-Streetscape - - - 380,000 380,000 Work approved by Council April 3rd; Reconstruction of E. Meadow Drive bus path from La Bottega to start of Solaris Villa e Streetsca e 172,429 86,111 86,318 - - - Transfer $75K ot remainder to Guest Service Enhancement ro'ect as revious bud eted Re-appropriate a10K to cover design costs spent to get the Vail Valky Dr.project ready to bid Neighborhood Road Reconstruction 2,038,701 229,206 1,809,495 - 10,000 10,000 (project has been delayed); 2013-2016 East Vail roads; Increase of $425K in 2013 for shared project with ERWSD on Rockledge Rd 2013 also includes $200K for planning / design of roadwork in 2014-2016 -4- TOWN OF VAIL 2012 BUDGET -- --- ------ _- ------ __ - -- --. _ _ _ _ __- - ---- -------- --- -- ------- - --- -- ---------- -_ _._._ -- - -- SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 20t2 2012 2011 2011 Varlance Orlginal 1st Proposed Amended Actual Fav /(Untav) Budget Supplemental Amended Project Information Matterhorn Bridge reconstruction delayed due to CDOT fiscal year and requirements; Partial funding Neighborhood Bridge Reconstruction 1,195,882 144,067 1,051,815 - 1,051,815 1,051,815 from federal grant; Nugget Lane and Bridge Rd bridges design in 2013 and construction in 2014 to coincide with federal grants Parkin Ent S stem / E ui ment 55,000 53,195 1,805 - - - Re airs to arkin booth e ui ment from vehicle accident; Insurance reimbursed Radio Equipment replacement (pub. works, _ _ _ 48,000 - 48,000 Replacement of 2008 radios for PW, Fire, PD ub. safery) H rid Bus Batte Re lacement - - - 55,000 - 55,000 Scheduled re lacement: 1 in 2012; 7 in 2014; Estimated life of 6 ears Replace Buses 3,486,614 2,240,636 1,245,978 - 1,245,978 1,245,978 2012: 2 Hybrid buses ordered In 2011; take delivery in 2012 Timber Rid e Le aVZonin 50,000 32,685 17,315 - 17,315 17,315 Continuation of ne otiations Manor Vail Street Plan 83,800 - 83,800 - _ _ Expenditure related to impact fee paid by Manor Vail devebpment; Witl track internally rather tha� on bud et worksheet Total Enhancements 10,676,858 5,053,138 5,623,720 3,215,000 4,157,285 7,372,285 New Assets Municipal Redevebpment - - - - 760,209 760,209 Estimated costs for architecture and design $247K plus project management $513K; Based on a roved contracts LionsHead Transft Center (VRA) 1,419,945 1,419,945 - - - - $5.0 million from Federal grant; remainder transferred from VRA We�ome Center (VRA) 7,534,706 6,595,914 938,792 304,700 973,444 1,278,144 Continuation of the project; Includes S34K reimbursement from VRD for tenant finishes;Funded by the Vail Reinvestment Authority (see Transfers bebw) Ro-appropriation; Design work approved by Council Feb 1 st; Originally budgeted entire project in East LionsHead Portal (VRA) 200,000 158,711 47,289 2,075,000 41,289 2,116,289 2o�2: Funded by the Vail Reinvestment Authority (East lH Circle) West LionsHead Portal (VRA) 75,000 52,500 22,500 750,000 22,500 772,500 Re-appropriatlon; Design work approved by Council Feb 1 st; Originally budgeted entire project in 2012; Funded by the Vail Reinvestment Authority (Concert Hall Plaza) Re-appropriatlon plus S350K additlonal approved by Councll AAarch 20th; Funded by the Vail Library Remodel (VRA) 174,500 72,772 101,728 1,600,000 451,728 2,051,728 Reinvestment Authority (see Transfers bebw); This project woukl add additional community space on main level, with offices and community room on basement level; includes elevator as required by code Fountain needs to be removed or significant repairs/replacement; Stairvvays; Adjoining park couid be improved rather than try to find a bcation for a new LH park. A"new" LH park was on Unfunded list Sundial Plaza (VRA) - - - 850,000 - 850,000 for $SOOK; $285K of this amount woukl be to improve the connection of walkways up toward First Chair West Vail Fire Station 2,003,618 1,890,760 112,858 - 7,500 7,500 Final bills for West Vail Fire Station Bu -down Pro ram 552,118 - 552,118 - 552,118 552,118 Car forward ro ram fundin Buyiiown Program Funded by Pay -in-Lieu 467,803 - 467,803 - 537,803 537,803 Carry forvvard curzent balance of program funding: Housing funded directly by Pay-in-Lieu fees collected from deveb ers; $70K increase based on 2012 YTD collections Variable Message Signs / Way-Finding 100,000 50,046 49,954 100,000 49,954 149,954 2012: replacement of two ramp signs at Main Vail ($200K) Im rovements I-70 Noise 378,140 27,957 350,183 - 350,183 350,183 Re-a ro riate for utili rebcation for Bakl Mountain berm extension Re-appropriate for contlnuation of projects: East Vail on Bighom Rd and GoK Course to Ford Park; Reimbursements from homeowners totaling $55,000 ($SK from East Vail and $SOK from residents Underground Utility improvements 273,000 151,800 121,200 - 121,200 121,200 near golf course), Vail Rec District ($15K) and Holy Cross directly funding $43,000 for East Vail project Chamonix Area Planning 92,600 90,800 1,g00 - _ _ $SOK forwater/utility infrastructure done during construction of W Vail Fire Station; $12.6K final amount due to Martin & Martin Total New Assets: 13,271,430 10,511,205 2,760,225 5,679,700 3,867,928 9,547,628 Total Ca Ital before Financln 28,007,777 18,108,266 9,899,511 12,987,028 8,992,904 21,979,932 Debt Service and Flnancin Debt Service on Outstandin Bonds 2,279,572 2,279,574 2 2,088,346 2,088,346 Annual debt service a ments Timber Rid e Debt Service Guarantee 925,000 925,000 - 925,000 925,000 Annual debt service uarantee - re uirement of TR debt Total Debt Service and Financin : 3,204,572 2,279,574 924,998 2,088,346 925,000 3,013,346 Total Ex nditures 31,212,349 20,387,840 10,824,509 15,075,374 9,917,904 24,993,278 -5- TOWN OF VAIL 2012 BUDGET - -- - — - - - - -- ---- --- --- --- --- - ---------------------- -------__ SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2012 2012 2011 2011 Variance Original 1st P�oposed Amended Actual Fav /(Unfav) Budget Supplemental Amended ProJect Information Other Financing Sources (Uses) Ro-appropriate a portion of 2011 unspent relating to on-going projects above; 2012: LH Portal Transfer from Vail Reinvestment Authority 9,579,070 7,125,196 2,453,874 6,546,700 2,488,874 9,035,574 improvements $2.9M, Sundial plaza $850K, $2.0 Library remodel, CDOT-Required parking $102K in LH, LH Pkg mtc $365K, LH Welcome Center $1.1 M, Guest Svcs $710K; Energy enhancements $953K; Transfer from General Fund 1,845,800 1,845,800 - - - - Transfer from GF for implementation of energy audit enhancements Transfer from RETT _ 32,964 32,964 - - - Transfer from RETT for implementatio� of energy audit enhancements ___ ____ Revenue Over (Under) Expenditures (8,375,488) 1,103,892 9,479,380 (817,014) (6,356,595) 7,173,609) Be innin Fund Balance 17,364,318 17,364,318 8,988,830 9,479,380 18,468,210 Ending Fund Balance 8 988 830 18 468 210 8 171 816 11 294 601 — -- -------- -- ------- — 'Promissory note due from Childrens' Garden of Leaning included in ending fund balance - not 10,000 5,000 5,000 s ndable -6- TOWN OF VAIL 2012 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE REAL ESTATE TFiANSFER TAX FUND 2012 2012 Amended 2011 Variance Orlginal tst Pro osed 2011 Actual Fav /(U�fav) Budget Supplemental Amended Comments Real Estate Transfer Tax $ 4,270,000 $ 4,403,706 $ 133,706 $ 3,635,000 $ - $ 3,835,000 2012 "base" sales 20 % less than 2010 ---- -- - ------ GoH Course Lease 124,400 126,768 2,368 126,888 - 126,888 Annual lease payment from Vail Recreation District 2% annual increase - deposited to "Recrea[ion Enhancement Account" (accom nying expenditure listed bebw) IMergovenmental Revenue 181,000 184,029 3,029 20,000 - 20,000 2011: $161,000 GOCO Grant for Red Sandstone playground (matching expense below); $20K Lotte fund roceeds Project Reimbursements 442,950 406,329 (36,621) 15,000 1,150,000 1,165,000 2011 $400K Insurance reimb for Aspen Ct Bridge and Seibert fountain railing damage ($2,950); 2012 VRD portion tor Golf Course Clubhouse consiruction Recreation Ameni Fees 10,000 9,740 (260 10,000 - 10,000 Earnings on Investments and Other 17,917 149,488 131,571 68,000 - 68,000 ---- ---------- ---------- Total Revenue 5,046,267 5,280,060 233,793 4,074,888 1,150,000 5,224,888 Malntaln Town Assets - -- --- - - Annual Park and landsca Maintenance 1,304,176 1,229,538 74,638 1,350,140 - 1,350,140 On oin ath, ark and o n s ace maintenance, roject mgmt ----- _------ _-- Management Fee to General Fund (5 %) 213,500 220,185 (6,685) 191,750 - 191,750 5% ot RETT Collections - fee remitted to the General Fund for administration Rec. Path Capital Maint 141,177 68,675 72,502 93,395 - 93,395 Capital maintenance of the town's recreation path system; 2012 includes $SOK [o replace deer screen at Dowd Junction and $15K for pedestrian bridge inspections Re-appropriate for Aspen tree scale; Regular maintenance for tree health within the town Tree Maintenance 85,000 50,111 34,889 65,000 25,000 90,000 (spraying, removing, new trees); scale spraying on town-owned property at approx. $120 per tree; Initiating tree-planting program for lost trees Forest Heakh Management 145,000 92,067 52,933 195,000 - 195,000 Pine beetle mitigation in conjunction w/ forest service (Crew of 6 during spring/summer months) Street Furniture Re acement 22,500 1,106 21,394 25,000 - 25,000 Annual re cement or ca ital re airs, includes bike racks 2012 includes paving paths to Stephens Park ($22K), ADA compliance for play structure at Park / Playground Capital Maintenance 114,841 116,920 (4,079) 85,000 - 85,000 Stephens Park, Re-landscape main eMry (east) at Dorwvan Park ($20FQ and resurface Dorwvan basketball court ($10K) Alpine Garden Support 65,620 65,620 - 85,620 - 85,620 Council approved one-time capital of $20K for water feature in 2012 and $65K of operating Black Gore Creek Sand Miti ation 75,600 75,600 - 50,000 - 50,000 2012 $50K Council contributions Public Art - O reti 90,390 81,022 9,368 92,657 - 92,657 AIPP sala and o rati ex nses Ernironmental Sustainabili 309,350 226,896 82,454 250,000 - 250,000 Environmental Sustainabili�rograms _ Total Maintenance 2,567,154 2,229,740 337,414 2,483,562 25,000 2,508,562 Enhan ment of Town A ts Flood Incident Repairs 400,000 382,237 17,763 1,050,000 - 1,050,000 2011: Replacement of Aspen Court Bridge (reimbursed by insurance); 2012: repairs to culveAS, drainage, and prevernative improvemems Ste hen's Park Stream Re irs 2,759 - 2,759 - - - Streambank stabilization si n r uiremerrt of the rant Trailhead Develo ment / Im rovement 24,000 - 24,000 50,000 - 50,000 Im rove trailheads; Con[inued need throu h 2012 one trail r ear ADA Compliance w/ VRD 10,000 6,263 1,737 10,000 - 10,000 Shared costs with VRD - ADA access at recreational facilities;new ADA regulations went into effect 2011; Need to replace drinking fountains at ap parks ($2K each) Frorriage Road Bike Lanes/Trails 2,364,658 1,663,643 701,015 1,150,000 - 1,150,000 4 miles of bike lanes (6 foot sFrouWers) to be added prior to CDOT overlay project; first priority is Blue Cow Chute to East Vail; path from Vail Mtn School to E. Vail exit Ford Park Master Plan 2,332,924 76,739 2,256,185 - - - Transfer re-a pro riation to Ford Park ro ect below Ford Park Im rovements 200,000 - 200,000 - - - Transfer ro-a ro riatlon to Ford Park ro ect below Raw Water / Irrigation Control 379,657 379,657 - - - - Water supply infrastructure; ERWSD workirg on brirging system up [o consistent operation Kayak Take-out 10,000 - 10,000 - _ _ Developer coMribution to be used for whitewater improvements - will track internally rather than car on et worksheets Stream Tract Encroachment Surve 14,081 14,081 - - Surve ab Gore Creek StreambanWtract miti ation - - 200,000 200,000 2012 anni ; 2013 im IemeMation "estimate on " Red Sandstone Park - Per Safe lan 464,000 266,370 197,630 197,630 197,630 Reconstruction of la round r safe an; 20 ears old Red Sandstone PlaygrouM GOCO Grant 161,000 154,826 6,174 - - - Pass through GOCO grant proceeds to school district for Red Sandstone playgrourxl Booth Creek Pla round 15,000 15,000 Previous in 2012; deferred [0 2013 Booth Creek Park redevelo ment 50,000 50,000 Previousl in 2012; deferred to 2016 -�- TOWN OF VAIL 2012 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND 2012 2012 Amended 2011 Varlance Ori inai 1st Pro osed 2011 Actual Fav /(Unfav) Budget Supplemental Amended Comments To purchase sculptures, artwork, art programs and events; remainder is re-appropriated each year Public Art - General program / art 287,016 47,463 239,553 80,000 255,878 335,878 to accumulate enough funds; Supplement budget for annual donatlons, manhole cover & Jewelery sales, and poster sales contributed during 2011 Public Art - Morales relocation 215,692 210,723 4,969 - - - Relocation ro'ect - com leted Public Art - Wintertest 51,600 23,206 28,394 - 33,494 33,494 Recognize donations made for W intertest event ($5,100 in 2011); Re-appropriate donation balance; (a roximate cost of event is $25K r ear) Guest Service Enhancements 100,000 - 100,000 - _ _ Planning and design onty; implementation currently unfunded; Will present pian to Council for a roval Landscape Medians 40,000 21,758 18,242 � _ Frontage road medians alongside redevebpment projects;Re-appropriate to modify landscapirg in front of the Sebastian to reduce water usa e and ongoing maintenance O n S ace Land Ac uisition 290,000 281,720 8,280 - 2011: Purchase of land above Timber Ri e develo ment Total Enhancemenis 7,412,387 3,516,605 3,895,782 2,540,000 487,002 3,027,002 VRD-Managed Facllity ProJects Recreation Enhancement Account 377,900 - 377,900 126,888 (126,888) _ Transfer balance to Goii Course Clubhouse redevelopment as intended by this reserve account - funded by annual lease revenue Golf Course Clubhouse 1,265,966 5,922 1,260,044 - - - Transferred balance to new clubhouse constructlon funding (see New Assets below) Ro-appropriate for replacement of malntenance storage building; Improvements to golf course: Golf Course - Other Improvements 400,623 267,456 133,167 18,468 133,167 151,635 71h tee box retaining wall, 11th and 17th hole bridges;improvements to maintenance building including stucco, wood trim and soffits; Mtce Storage buikJing Dobson Ice Arena 359,316 16,037 343,279 73,495 343,279 416,774 Ro-appropriate for upgrade of louver system, replaceme�t of doors, returbishment of wood e�cterior and landscape improvements; '2012: rerwvate changing rooms and restrooms Ford Park / Tennis Center Improvements 433,753 91,198 342,555 428,910 - 428,910 Ro-approprlate 2011 unspent and trensfer to Ford Park Flelda proJect for upper bench Improvements; 2012 ou[buikling improvements at ball fields Youth Services _ 25,000 __ 25,000 - - - - 2011: transition expenses (FF&E, interior finishes, etc) with new Welcome Center project G mnastics Center 25,000 2,098 22,902 1,978 - 1,978 Waiti on ener audit rior to installi cooli s stem Nature Cerrter 5,529 5,529 10,646 10,646 2012 wood o n rail fenci Total VRD-Managed Facility ProJects 2,893,087 407,711 2,485,376 660,385 349,558 1,009,943 New Assets Re-appropriatlon af prlor estimate for design and architecture; plus transfer ot 57.26M from Golf Course Clubhouse (CC� 340,000 2,071 337,929 - 6,712,761 6,712,761 Prior clubhouse capital malntenance budget; 51•15M reimbunement from VRD, allocation of RecresNon Enhancement Funds j504K and Conference Center funds of $3.8M (Totai proJect cost estimated at s6.8M) Added transfer of 5342.6K from Ford ParklTennis, transfer of j200K from Ford Park Ford Park FiekJs (CC� 175,000 1,400 173,600 - 6,297,340 6,297,340 �mprovements budget and a trensfer of 52,256,t85 from Ford Park Management Plan budget. Consolldating dollars already In previous budgets and adding use of S3.5M in Conference Center Funds for total project estimated cost of S6.3M Public Restrooms 370,000 370,000 370,000 370,000 Restrooms at bwer bench of Ford Park Total New Assets: 885,000 3,471 881,529 13,380,101 13,380,101 Total Ex ditures 13,757,628 6,157,527 7,600,101 5,683,947 14,241,667 19,925,608 Other Flnancin Sources (Uses) Transfer to Ca ital Pro'ect Fund (32,964) (32,964) - - - - Transfer to CPF for im mentation of ener audft enhancements Transfer from Conf Center Funds for GoH Clubhouse ($3.8M) and Ford Park Fleld projects ($3.SM), Transfer from Conference Center Fund 515,000 515,000 - - 6,785,000 6,785,000 net of $515K transferred in 2011 for anni /desi n Revenue Over(Under) Ex ditures 8,229,325 395,431 7,833,894 1,609,059 6,306,661 ,915,720 inni Fund Balance 17,681,155 17,681,155 9,451,831 7,833,894 17,285,725 Ending Fund Balance S 9 451 830 $ 17 285 724 a 7 842 772 S 9 370 005 .g. TOWN OF VAIL 2012 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONFERENCE CENTER FUND ----- -- - — ---- -- ----- ------ -- -- _ 2012 2012 2011 2011 Variance Original 1st Proposed Amended Actuat Fav /(Unfav) Budget Supplemental Amended Comments Revenue Earnin s on Investments 46,800 65,787 18,987 46,800 - 46,800 Total Revenue 46,800 65,787 18,987 46,800 - 46,800 Expenditures - General Government Full contribution toward For Amphitheater project Capital Outlay 100,000 - 100,000 - 2,100,000 2,100,000 (total estimated cost of $S.OM) $2.5M to be raised by Vail Valle Foundation Total Expenditures 100,000 - 100,000 - 2,100,000 2,100,000 Other Financing Sources (Uses) Transfer to Capital Project Fund for Golf Clubhouse Transfer to Capital Projects Fund 515,000 515,000 - - 6,785,000 6,785,000 ($3.8M) and Ford Park Field projects ($3.5M), net of $515K transferred in 2011 for planning/design Revenue Over (Under) Expenditures (568,200) (449,213) 118,987 46,800 (8,885,000) (8,838,200) Be innin Fund Balance 9,365,004 9,365,004 8,796,804 __ 118,987 8,915,791 Adjust to actual Ending Fund Balance $ 8,796,804 $ 8,915,791 $ 8,843,604 $ 77,591 -9- TOWN OF VAIL 2012 BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE DISPATCH SERVICES FUND - -- 2012 2012 -- -- --- --- -- 2011 2011 Variance Original 1st Proposed Amended Actual Fav /(Unfav) Budget Supplemental Amended Comments Revenue E911 Board Revenue $ 743,656 $ 743,656 $ - $ 742,256 $ - $ 742,256 Intera enc Char es 1,214,925 1,214,926 1 1,177,061 - 1,177,061 Town of Vail Intera enc Char e 537,827 537,827 - 575,706 - 575,706 Earnin s on Investments 7,500 9,891 2,391 7,500 - 7,500 Other - 4,475 4,475 - - - Total Revenue 2,503,908 2,510,775 6,867 2,502,523 - 2,502,523 Expenditures Salaries & Benefits 1,849,958 1,705,469 144,489 1,881,204 - 1,881,204 O eratin , Maintenance 8 Contracts 519,006 435,038 83,968 514,001 - 514,001 Capital Outlay 870,000 736,841 133,159 50,000 133,159 183,159 Continuation of voice-logger/radio system plus initial ex enses toward hone s stem ro'ect Total Expenditures 3,238,964 2,877,348 361,616 2,445,205 133,159 2,578,364 Revenue Over (Under) Expenditures (735,056) (366,573) 368,483 57,318 (133,159) (75,841) Be innin Fund Balance 1,532,566 1,532,566 797,510 368,483 1,165,993 Ending Fund Balance $ 797,510 $ 1,165,992 $ 854,828 $ 1,090,152 -10- TOWN OF VAIL 2012 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEAVY EQUIPMENT FUND 2012 2011 2011 Variance 2012 1st Proposed Amended Actual Fav /(Unfav) Budget Supplemental Amended Comments Revenue Town of Vail Intera enc Char e $ 2,824,081 $ 2,814,399 $ 9,682) $ 2,892,362 $ -$ 2,892,362 Chargeback to departments Insurance Reimbursements & Other 43,240 71,400 28,160 - - - Earnin s on Investments 10,324 14,165 3,841 10,324 - 10,324 Equipment Sales and Trade-ins 203,550 106,494 97,056 65,500 - 65,500 Total Revenue 3,081,195 3,006,458 74,737 2,968,186 2,968,186 Expenditures Salaries & Benefits 960,739 955,023 5,716 996,016 - 996,016 O eratin , Maintenance & Contracts 1,355,190 1,423,681 (68,491) 1,412,095 1,412,095 Capital Outlay 1,148,288 609,946 538,342 389,144 330,000 719,144 Two vehicles (Loader and xx) contracted for in 2011, took delive in 2012 Total Ex enditures 3,464,217 2,988,650 475,567 2,797,255 330,000 3,127,255 Revenue Over (Under) Expenditures (383,022) 17,808 400,830 170,931 (330,000) (159,069) Be innin Fund Balance 2,252,405 2,252,405 1,869,383 400,830 2,270,213 Ending Fund Balance $ 1,869,383 $ 2,270,213 $ 2,040,314 $ 2,111,144 ii�