HomeMy WebLinkAbout1999-16 Adopting the Operating Plan and Budget for the VLMDRESOLUTION NO. 16
SERIES OF 1999
A RESOLUTION ADOPTING THE OPERATING PLAN AND BUDGET FOR
THE VAIL LOCAL MARKETING DISTRICT
WHEREAS, the Vail Town Council acting ex officio as the Board of Directors of
the Vail Local Marketing District has requested the Town Finance Director to prepare
and submit a proposed budget for the 2000 fiscal year to the board; and
WHEREAS, a proposed operating plan and budget has been submitted to the Vail
Town Council for its consideration; and
WHEREAS, upon due and proper notice, published in accordance with the law,
the proposed budget was open for inspection by the public at a designated place, and
a public hearing was held on November 30, 1999, and interested electors were given
the opportunity to file or register any objections to the proposed budget; and
WHEREAS, the budget has been prepared to comply with all terms, limitations
and exemptions, including, but not limited to, reserve transfers and expenditure
exemptions under Article X, Section 20 of the Colorado Constitution ("TABOR") and
other laws or obligations which are applicable to or binding upon the District; and
WHEREAS, whatever increases may have been made in the expenditures, like
increases were added to the revenues so that the budget remains in balance, as
required by law.
NOW, THEREFORE BE IT RESOLVED by the Town Council of the Town of Vail,
Colorado:
1. That estimated expenditures for each fund are as follows:
General Fund:
2. That estimated revenues are as follows:
General Fund:
From unappropriated surpluses $ 0
From sources other than the
marketing and promotion tax $ 318,000
From the marketing and promotion tax $1,500,000
Total $1,818,000
1,500,000
3. That reserves have been or are hereby established for each appropriate
fund or combined as a single reserve fund as set forth in the budget in order to preserve
the spending exemption for reserves under TABOR, and all such reserves shall be
transferred or expended within any fund as set forth in the budget.
4. That the operating plan and budget, as submitted, amended and herein
summarized by fund, be, and the same hereby is, approved and adopted as the operating
plan and budget of the Vail Local Marketing District for the 2000 fiscal year.
5. That the budget, as hereby approved and adopted, shall be certified by the
Town Clerk to all appropriate agencies and is made a part of the records of the District.
6. That this resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 30th
day of November,
1999.
ATTEST:
15 rele i Donaldson, Town Clerk
r
C:IRESOLU99.16
Ludwig Kurfj Mayor