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GID Resolution 1SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO.1 TOWN OF SNOWMASS VILLAGE, COLORADO RESOLUTION NO. 1 SERIES OF 2016 A RESOLUTION AMENDING THE 2016 BUDGET FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1, OF THE TOWN OF SNOWMASS VILLAGE, COLORADO. WHEREAS, the Board of Directors of the Snowmass Village General Improvement District No.1 has directed the General Improvement District No. 1 Advisory Board to prepare and submit a 2016 revised budget to the Board of Directors by December 31, 2016; and WHEREAS, the Advisory Board has submitted a 2016 revised budget to the Board of Directors on November 14, 2016; and WHEREAS, expenditures have increased slightly for 2016. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Snowmass Village General Improvement District No.1 of the Town of Snowmass Village, Colorado: Section One: Adoption That the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village, Colorado 2016 budget be adjusted to the 2016 revised budget, as summarized below and a true and accurate copy of which is attached hereto. General Improvement District Budget Summary - 2016 2016 2016 Budget Revised Beginning Carryover $ 511,186 $ 549,390 Revenues Expenditure $ 245,660 $ 299,995 $ 245,660 $ 321,995 End Fund Balance $ 456,851 $ 473,055 Variance $ 38,204 $ 0 ($22,000) $16,204 16-1 Page 2 Section Two: Appropriation That the 2016 revised budgeted revenue and fund balance is hereby appropriated for expenditure during the 2016 budget year. INTRODUCED, READ AND ADOPTED by the Board of Directors of the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village, Colorado on the 14th day of November, 2016 with a motion made by GID Member Madsen, seconded by GID Member Shenk. The motion was approved by a vote of 3 in favor to 0 opposed. GID Member Sirkus and Goode were absent. SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 rkey Bu r, airperson ATT T: Rhonda Coxon, Secretary