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GID Resolution 2SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO.1 TOWN OF SNOWMASS VILLAGE, COLORADO RESOLUTION NO. 2 SERIES OF 2016 A RESOLUTION SUMMARIZING REVENUES AND EXPENDITURES FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 15 OF THE TOWN OF SNOWMASS VILLAGE, COLORADO, AND ADOPTING A BUDGET AND APPROPRIATNG SUMS OF MONEY FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2017 AND ENDING ON THE LAST DAY OF DECEMBER, 2017. 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 proposed budget to the Board of Directors by December 31, 2017; and WHEREAS, the Advisory Board has submitted a 2017 proposed budget to the Board of Directors on November 14, 2016; and WHEREAS, projected expenditures have been budgeted with projected revenues and fund balance so that the budget remains in balance, as required by law. 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 2017 budget be adopted, as summarized below and a true and accurate copy of which is attached hereto. General Improvement District Budget Summary — 2017 2017 Budget Beg Fund Balance $473,055 Revenues 245,066 Expenditures (340,363) End Fund Balance $377,758 Page 2 16-2 Section Two: Appropriation That the 2017 budgeted revenue and fund balance are hereby appropriated for expenditure during the 2017 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 Sirkus, seconded by GID Member Madsen. The motion was approved by a vote of 4 in favor to 0 opposed. GID Member Goode was absent. SNOWMASS VILLAGE GENERAL IMPROVEMENT TRICT N0. 1 Markey Bu r, Chairperson ATTE i Rhonda Coxon, Secretary GENERAL IMPROVEMENT DISTRICT I ATTACHMENT A BUDGET DETAIL -2016-2021 REVENUES Description 2015 2016 2016 $ 2017 $ 2018 2019 2020 2021 PURCHASED SERVICES Actual Budget Revised VARIANCE Proposed VARIANCE Proposed Proposed Proposed Proposed T_ Accounting/Administration Audit $ 3,136.00 $ 3,230 $ 3,230 $ - $ 1,643 $ (1,587) $ 1,692 $ 1,743 $ Property Taxes -Operating Interest Income $ 240,152.66 $ 237,777 $ 237,777 $ - $ 235,744 $ (2,033) $ 242,817 $ 250,101 $ 257,604 $ 265,332 Miscellaneous $ 1,438.95 $ 750 $ 750 $ - $ 2,250 $ 1,500 $ 2,048 $ 1,863 $ 1,696 $ 1,543 Specific Ownership $ 1,360.10 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ $ 8,409.42 $ 7,133 $ 7,133 $ - $ 7,072 $ (61) $ 7,284 $ 7,503 $ 7,728 $ 7,960 Sub -Total $ 251,361.13 $ 245,660 $ 245,660 $ - $ 245,066 $ (594) $ 252,148 $ 259,467 $ 267,028 $ 274,835 Total Revenues$ 251,361.13 1 $ 245,660 $ 245,660 $ - $ 245,066-F$ $ (5 94) $ 252,148 1 $ 259,4671 $ 267,0281$ $ 274,835 EXPENDITURES PURCHASED SERVICES Accounting/Administration Audit $ 3,136.00 $ 3,230 $ 3,230 $ - $ 1,643 $ (1,587) $ 1,692 $ 1,743 $ 1,795 $ 1,849 Collection Fees -Prop Taxes (5% of prop taxes) $ $ 307.00 12,025.10 $ $ 316 11,889 $ $ 316 11,889 $ $ - - $ $ 316 11,787 $ $ - (102) $ $ 325 12,141 $ $ 335 12,505 $ $ 345 12,880 $ $ 356 13,267 Consultant Legal $ - $ - $ - $ - $ 50,000 $ 50,000 $ - $ - $ - $ $ 3,630.00 $ 2,855 $ 2,855 $ - $ 2,940 $ 85 $ 3,029 $ 3,119 $ 3,213 $ 3,309 Sub -Total $ 19,098.10 $ 18,290 $ 18,290 $ - $ 66,686 $ 48,396 $ 17,188 $ 17,702 $ 18,234 $ 18,780 OPERATING & MAINTENANCE Insurance Sky Cab - operating costs $ 6,266.65 $ 7,147 $ 7,147 $ - $ 7,532 $ 385 $ 8,285 $ 9,114 $ 10,025 $ 11,028 Sky Cab -Maintenance Costs $ 1769552.50 $ 180,593 $ 180,593 $ 202,422 $ 21,829 $ 210,519 $ 218,940 $ 227,697 $ 236,805 Snowmelting - Lower Carriageway/Wood Rd $ $ - 51,208.98 $ 6,000 $ 6,000 $ - $ - $ (6,000) $ - $ - $ - $ $ 87,965 $ 87,965 $ - $ 63,723 $ (24,242) $ 66,647 $ 69,724 $ 72,960 $ 76,364 Sub -Total $ 234,028.13 $ 281,705 $ 281,705 $ - $ 273,677 $ (8,028) $ 285,451 $ 297,778 $ 310,682 $ 324,197 CAPITAL Sky Cab $ - $ - $ 22,000 $ 22,000 $ - $ (22,000) $ - $ - $ - $ - Gear box Total Expenditures $ 253,126.23 $ 2999995 $ 3219995 $ 229000 $ 3409363 $ 18,368 $ 3029639 $ 315,480 $ 328,916 $ 342,978 NET Revenues over Expenditures $ (1,765.10) $ (54,335) $ (76,335) $ (22,000) $ (95,297) $ (18,962) $ (50,491) $ (56,013) $ (61,889) $ (68,143) YEAR-END Fund Balance RESERVE (10% of Revenues) FUNDS AVAILABLE TOTAL Year-end Fund Balance 2015 Revised $ 25,136.11 $ 524,253.41 $ 549,389.52 2016 2016 $ Budget Budget VARIANCE $ 24,566.00 $ 24,566.00 $ - $ 432,285.12 $ 448,488.67 $ 16,204 $ 456,851.12 $ 473,054.67 $ 16,204 2017 $ Budget VARIANCE $ 24,506.63 $ (59) $ 353,250.98 $ (95,238) $ 377,757.60 $ (95,297) 2018 2019 2020 2021 Budget Budget Budget Budget $ 25,214.81 $ 25,946.73 $ 26,702.77 $ 27,483.52 $ 302,052.28 $ 245,307.55 $ 182,662.96 $ 113,739.66 $ 327,267.09 $ 271,254.28 $ 209,365.72 $ 141,223.17 2015 2016 2016 2017 2018 2019 2020 2021 Assessed Values - $ 40,025,440.00 $ 39,629,430 $ 39,629,430 $ 39,290,710 $ 40,469,431 $ 41,683,514 $ 42,934,020 $ 44,222,040 Mills ----- $ 6.00 6 6 6 6 6 6 6 Property Tax Collection--- $ 240,152.64 $ 237,777 $ 237,777 $ 235,744 $ 242,817 $ 250,101 $ 257,604 $ 265,332 Actual Assessed Values ------__ $ increase $ - $ (396,010) $ (396,010) $ (338,720) % increase $ - a -0.99% -0.99% -0.85% ul Wbek of Operagons ATTACHMENT 13 Sky Cab Operating Costs .2017 Operations 4% Per hour rate $91.68 From 10:00 a.m. to 5:00 p.m. Winter non -ski hours (Jan 1- April 16) Plus: 1 hr/day $119.34 All other winter hours Rate was Hours per day # of days Start up/shut down Total # of hours $122.30 Maintenance person on-site 2016 Mon through Sun 4:00 p.m.- 9:00 p.m. 5 106 0 530 $63,250 $119.34 $114.75 Summer (June 17 -Seat 41 June 17th - 24rd 10:00 a.m. - 10:00 p.m. 12 7 0 84 $10,274 $122.30 Mon - Sun (6/24 - 9/4) 10:00 a.m.-5:00 p.m. 7 73 0 511 $46,846 $91.68 $88.15 Mon - Sun (6/24 - 9/4) 5:00 p.m.- 10:00 p.m. 5 73 0 365 $44,641 $122.30 $117.60 Sept 5,6,7,8,11,12,13,14,15 10:00 a.m. - 10:00 p.m. 12 9 0 108 $13,209 $122.30 Winter non -ski hours (Nov 23 - Dec 31) $1,253 ## o� June 17 - June 23 7 Mon through Sun 4:00 p.m.- 9:00 p.m. 5 39 0 195 $24,202 $124.11 $ 119.34 February 28 July 31 December 31 4% 31 August 31 39 April plus 4% over winter Total Thursdays 10 Concert -Thursdays 10 NO concert -Thursdays 0 1 Free Concert on Mon JL July 4th $91.68 $122.30 TOTALS 307 0 1793 $ 202,422 Option Add Cost per day 10:00 a.m. - 5:00 p.m. 7 1 0 7 $642 Cost per day 5:00 p.m. - 10:00 p.m. 5 1 0 5 612 $1,253 ## o� June 17 - June 23 7 January 31 June 24th 7 November 8 February 28 July 31 December 31 March 31 August 31 39 April 16 September 4th 4 Total 106 73 Thursdays + Mon 714 0 Sept 5,6,7,8,11,12,13,14,15 9 73 Total Thursdays 10 Concert -Thursdays 10 NO concert -Thursdays 0 1 Free Concert on Mon JL July 4th $91.68 $122.30