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09-25-07 Town Council PacketC& 61 'ijaQ SNOWMASS VILLAGE SPECIAL MEETING AGENDA SEPTEMBER 25, 2007 PLEASE NOTE THAT ALL TIMES ARE APPROXIMATE — ITEMS COULD START EARLIER OR LATER THAN THEIR STATED TIME CALL TO ORDER AT 9:00 A.M. Item No. 1: ROLL CALL Item No. 2: BUDGET REVIEW PowerPoint Presentation Item No. 3: BUDGET POLICIES/ISSUES Discussion Item No. 4: ADJOURNMENT NOTE: ALL ITEMS AND TIMES ARE TENTATIVE AND SUBJECT TO CHANGE WITHOUT FURTHER NOTICE. PLEASE CALL THE OFFICE OF THE TOWN CLERK AT 923-3777 ON THE DAY OF THE MEETING FOR ANY AGENDA CHANGES. FAB 2007 Revised/2008 Proposed Budget Recommendation: The Financial Advisory Board recommends adoption of the 2007 Revised and the 2008 Proposed Budget, but with these additional recommendations: 1) That the Town Council operate under a Budget Policy requiring that all supplemental changes to the expenditures within a budget be augmented/supported by a corresponding revenue/resource in order to ensure that the Town continue to maintain a balanced budget. This is to reinforce the language in the Home Rule Charter. 2) That the Town Council require Staff to run an analysis using the costs of the Community Pool/Fitness Center and Gym and to calculate the per user cost to determine the true impact/subsidy per user for these facilities. 3) That based on the increase in property taxes in the Road Fund in future years, that the Town Council accelerate the payback to the Real Estate Transfer Tax Fund for Snowmelt Road to 2009 or soon thereafter. 4) That the Town Council reevaluate having a new Welcome Center built at the Entryway until after the Town has been through a full year of operating the Transit/information Center. The FAB further recommends that the Town Council obtain a recommendation from the Marketing Department to see if such a facility is even needed. 5) That based on Staff recommendation on the appropriate level of unrestricted reserves (included in the budget), that a separate line designation be established to set aside this contingency amount from the other unrestricted funds so as not to be tempted to spend it. The FAB further recommends that Council may want to establish a policy by resolution or ordinance that states the conditions under which the contingency funds could be used. For example, by a majority or super-majority of the Town Council. Town of Snowmass Village Budget Transmittal and Executive Summary 2007 Revised/2008 Proposed Budgets Introduction The Town of Snowmass Village continues to experience an increase in the economic activity in the valley. This is reflected in the increases in sales taxes and in the real estate transfer taxes. Despite the growing economy, the Town continues to maintain a cautious outlook as we enter another budget process. The attached budget reflects some of the highlights/issues that came to light during this year's budget process as listed below: The General Fund 2008 budget continues to maintain a balanced budget and projects an increase in revenues of 9.8% or $12,860,100 over the 2007 budget and an increase in expenditures of 10.46% or $12,609,309 plus the net increase from Base Village of$12,537. The additional expenditures related to the New Town Hall account for 1.86% of the 10.46%. General Fund Operating Revenues exceed Operating Expenditures by $263,358. The General Fund will begin to feel the impact of the New Town Hall Certificate of Participation, the increased building cleaning and maintenance costs as well as utility costs in 2008. In 2009, the full impact of the COP is realized thereby reducing the operating revenue over expenditures. The Real Estate Transfer Tax is impacted by the increase in the subsidy to support the swimming pool, fitness center, gym programs and the landscaping program. These projects will continue to enhance the amenities that the Town of Snowmass Village has to offer by providing a variety of recreational programs. The construction related issues with the development of Base Village, the New Town Hall and the Entryway Project have been a challenge. If the Construction Mitigation fee is approved, this will help alleviate some of the additional costs and issues such as compensating the Town for a Planning Department position that is already included in the budgeted expenditures for payroll and benefits. The revenues do not include this offset at this time. 2 The Town staff has been and will continue to feel the pressure on the service levels that they are expected to provide due to the growth within the Town. Although some of these expenditures are included within the budget, the resources (i.e. additional sales and lodging tax) from developments have not been realized yet. The Town is also embarking on a project with community involvement to update the Towns Comprehensive Plan. This project will begin in 2007 and cross over into 2008. This plan will help prioritize needed public improvements. Since the Town is a government service organization serving both the community and the resort activities and with the expansion of all Town budgets, funds and programs, personnel services has had to increase in order to maintain Town services at a level that the community has come to expect. Personnel Services accounts for approximately 68.93% of the General Fund budget, which is common for a resort community. Purchased Services (contract service, etc.) accounts for 16.34%. Other donations account for .16%. Operating and Maintenance (utilities, etc.) accounts for 12.51% and Capital Outlay, which fluctuates year-to-year accounts for 2.06% of the 2008 proposed budget. Staff anticipates a future need will be to aggressively seek to provide housing to Town employees In the budget presentation, the revenues and expenditures are compared using the year's 2007 budget to 2007 revised and 2007 budget to 2008 proposed. 3 Town of Snowmass Village General Fund 5•Year Projections I—*—Revenues —0—Expenditures 17,000,000 16,236,572 16,000,000 15,511,427 15,000,000 14,751,671,—`-- 472,503 13,928,972 14,897,255 14,000,000 14,379,261 12,910,810 13,779,166 13,000,000 12,647,482 12,000,000 11,000,000 10,000,000 2008 Proposed 2009 Proposed 2010 Proposed 2011 Proposed 2012 Proposed 4 Budget Philosophy The Town is continuing with the following budget philosophy: Balance On-coin¢Revenues/Expenditures Annual on-going revenues must support annual on-going expenditures. Identify Opportunities for Cost/Service Efficiencies Keep expenditures in check by looking for cost efficiencies through purchasing, technology and organizational management. Use Most Restricted Funds First Apply expenditures, where appropriate, to the most"restricted" funds first, thereby freeing up additional "unrestricted" funds for other expenditures. Equipment Replacement Program Level out cash purchases over the long-term to eliminate large fluctuations in annual expenditures through an equipment replacement schedule. Set a reserve in an amount equal to vehicle/equipment purchases averaged over a 5-year period in both the General Fund and the Real Estate Transfer Tax Fund. Identify Funds Available/Reserves Combine separately "set aside" funds into one"funds available" reserve to allow Council to see all funds that are available for any public purpose. Use One-time Funds for One-time Costs Use "windfalls", year-end operational balances and "one-time" revenues to pay for one-time items, such as, capital improvements, discretionary items, limited grants and donations or any limited-term expenditures. Identify Capital Improvement Proiects The Capital Improvement Program is intended to provide one fund to budget for large-scale projects and their funding sources. Operating and maintenance costs will be budgeted in the appropriate funds. This fund will identify future projects in order to begin the planning process and to identify potential funding sources. General Fund Reserve Policy The General Fund will maintain a minimum of 15% of operating revenues in Funds Available or Unrestricted Reserves. If the Town Council decides that it is in the Towns best interest to use any of the unrestricted funds that causes the balance to drop below the 15% of operating revenues, the Town Council should S also commit to bringing that level back up to 15% in future years. State of the Budget Revenues GENERAL FUND Property Taxes—Property taxes are budgeted to increase based on an increase in growth and assessed valuation. Due to the State Constitution, the Town is not allowed to increase the mill levy rate beyond .768 mills without a vote of the people. Sales Taxes—Through June of 2007, Town Sales Taxes were up by approximately 10.60% and the June County Sales Taxes were up by approximately 6.72%. We increased the remaining months by 3% to the end of the year. For the 2008 proposed budget we used a 4% increase over 2007 revised figures. In previous years, we used a 3% increase, but based on the State and Local forecasts, we increased it to 4%. As we do every year, we will closely monitor this revenue source and make adjustments as necessary. Franchise/Occupation Tax—2007 Revised increased by $36,112 and 2008 proposed budget by $12,870 based on 2006 actual with a 3% increase. State Grant—DUI Enforcement—The Town is at the beginning of a three-year cycle to receive grant funds for this program in 2007. FTA-5311 Grant—Reflects an increase in funding from the Federal Government for Transit operations in 2007 revised. Planning Department Fees—Decrease in 2007 revised due to the amount of time spent on Town developments and the delay of the Snowmass Center project. Expected to increase in 2008. Building Permits—An increase in building permits from 2007 budget to 2007 revised is projected due to the number of building permits for Base Village. A decrease is anticipated for the 2008 proposed budget based on projected building activity. Plan Check Fees—The increase in Plan Check Fees for 2007 revised is based on the same factor as building permits. Special Bus Runs—The increase in 2007 revised budget reflects additional bus service demands higher than anticipated. Solid Waste Fees—The Town is proposing to implement an increase in solid waste fees for 2008 based on an increase from the Pitkin County Landfill. Pool and Fitness Center Fees—These fees did not come in as projected and will be 6subsidizedbytheRETTfund. Waa Rent-Town Hall - Reflects the rent payments from the Marketing and Special Events Fund and the Group Sales Fund for the Town Hall. Transfer-In RETT Fund—This increase reflects the net impact of the pool and fitness center costs, as well as the transfer to cover all recreation activities and the landscaping program. Transfer-In Road Fund—Reflects the increase in the 2007 revised budget for vehicle repairs and additional utility costs in 2008. REAL ESTATE TRANSFER TAX FUND RETT Revenues—We have revised the RETT revenues up from 2007 budget to reflect the sales of Base Village and the Mountain Chalet. 2008 is projected at base level to reflect higher resales rather than sales of new properties. Base Village sales are shown on a separate line in the summary. Interest Income— Increase in 2007 revised is due to higher fund balances and higher interest rates. ROAD FUND Road Fund Property Taxes—The Road Fund will continue to assess the maximum of 5 mills to cover road expenditures and the repayment of the loan from the RETT fund for the reconstruction of Snowmelt Road. Occupancy Assessments—Reflects the Base Village project in 2008. HOUSING FUNDS Housing Funds —Rental increases for the three Housing Funds range from .62% to 1.68% a significant decrease in rental increases from previous years. The Housing Director is able to support the expenditures with this minimal increase for 2008. LOTTERY FUND Lottery Fund—These revenues are based on year-to-date actual and projections through the end of the year. 7 DEBT SERVICE FUND Debt Service Fund—Property taxes are projected to cover the principal and interest on the outstanding General Obligation Bonds including the recreation center bonds. MARKETING AND SPECIAL EVENTS FUND Marketing/Special Events Fund—the Town budgeted the same increase in sales taxes for this fund as in the General Fund and additional revenues reflect fees for special events. GROUP SALES FUND Group Sales Fund— 2006 was the first year of the Lodging Tax for the Town. In 2007, we are projecting a 6.9% increase in Lodging Tax, and for 2008, a 2.7% increase. Staff is cautious about lodging and sales tax revenue in 2009 until there is greater certainty about the availability of conference space. EXCISE TAX FUND This fund has received more revenues than budgeted for the 2007 budget year. 2008 is budgeted lower based on projections from the Planning Department. This fund also reflects the sale of the units from the Rodeo Home project in 2008. Ex enditures General Fund —The 2007 revised operating budget is 1.8% lower than what was budgeted for 2007 due to decreases in personnel services (from attrition) and utilities. The 2008 proposed budget is 10.46% over the 2007 adopted budget. The New Town Hall accounts for 1.86% of the 10.46%, which is built-in to the numbers below. This is for the increase in building lease payments for the Certificate of Participation, the increase in Building-cleaning, Bldg-maintenance and utilities. The breakdown of the 10.46% is listed below. Of the 10.46%, Operating and Maintenance expenditures account for 1.41%. Vehicle parts and supplies and the Town Hall certificate of participation contribute to the increase. 8 Personnel Services increases account for 7.49% of the 10.46% due to the fact that Personnel Services accounts for 68.93% of the total General Fund budget. Broken down, payroll and benefits for existing personnel account for 3.57% of the 7.44%. There is an additional increase of 3.34% for payroll and benefits for new positions. The Planning and Building Department is adding a Community Development Director. The Shop Division is adding a Facility Maintenance Technician to assist in the repairs and maintenance of the growing Town facilities. The Police Department is expanding a half-time position to a full-time year round position due to expanded Special Events activities and Construction Management. The Finance Department is hiring an accountant as requested two years ago due to expanded departments and accounting funds. The Pool/Fitness Center is adding a Recreation Program Coordinator, a Recreation Assistant and combining part-time positions into full-time positions with benefits. There is an increase budgeted in the Road, Solid Waste and Shop divisions for overtime, which accounts for 30% and training and travel accounts for .28% of the 7.44%. The Town has budgeted for a 3% merit program in 2008. Purchased Services accounts for a 1.67% of the total 10.46% increase mainly due to increases in contract services, dump fees and the New Town Hall costs. Dump Fees account for .42% due to the increase in fees from Pitkin County Landfill. Grants and Donations account for .03% and increases by $3,850. This increase is in the costs for the Community Picnic, bus service and TIPPS training. Capital Outlay accounts for (.14%) decrease of the total 10.46%. This is due to the vehicle replacement schedule whereby a piece of equipment will not be replaced in 2008. One-time expenditures —The 2007 revised budget includes $179,000 for the first part of the comprehensive plan. In 2008, the remaining $100,000 is budgeted. The Faraway dumpster was moved from 2007 to 2008. The Town is budgeting for a new Sales and Lodging Tax software program. Other expenditures —For 2007, the amount budgeted for the transfer to the Capital Projects Fund for Town Hall was increased by $318,164 for design, furniture, fixtures and equipment. RETT Fund—RETT Fund operating expenditures are projected to increase from 2007 budget to 2008 proposed due to the Pool/Recreation and Landscaping programs. Road Fund—The Road Fund is budgeted to expend approximately$474,000 in direct road fund expenditures, in addition to the transfer out to the General Fund for road repairs and maintenance. The Road Fund continues to make payments to the RETT Fund for Snowmelt Road. Housing Fund—Budget includes the on-going renovations of the apartment units and 9 on-going annual operations. Marketing and Special Events Fund—Includes an additional staff person to manage all Web site related projects and issues. Group Sales Fund—Will be adding an ambassador position to meet and greet at the airport and the Towns information booth. This cost is shared with the Marketing and Special Events Fund. Debt Service Fund—The 2008 proposed budget includes the General Obligation Bonds for the Droste Conservation Easement, the Rodeo Property, the Operations Facility, the Road Bonds, the Swimming Pool Bonds and the Recreation Center. Capital Improvement Project Fund—This fund includes expenditures for the Entryway Improvements, Entryway Welcome Center, Parks and Trails and Mall Transit Facility among other projects. Fund Balances General Fund—The fund balance increases slightly from 2007 revised to 2008 proposed. This increase reflects a balanced budget and a reduction in on-time expenditures. There is a$248,527 cushion from annual operating revenues over annual operating expenditures budgeted for 2008. RETT Fund—RETT Fund projects a decrease in fund balance due to the budgeted expenditures for Entryway Parks and Trails and an increase in Transfers-out to the General Fund for the Pool/Fitness Center. Marketing/Special Events Fund—This fund continues to set aside 10% of annual revenues and has approximately $188,019 in unappropriated funds at the end of 2007 dropping to $10,149 in 2008. Group Sales Fund—Since this is a new fund, the fund balance starts out low and continues to grow in future years. Excise Tax Fund—In 2008, the fund balance increases by$4,756,492, due to the income from the sale of the Rodeo Homes. Lottery Fund—The fund balance has been steadily growing over the past few years. In 2008, we have budgeted to expend these funds toward the Entryway Park Improvements. 10 BUDGET POLICIESASSUES 2008 Bud¢eted General Fund Items The 2008 budget includes funds to hire the following: The Planning and Building Departments are adding a Community Development Director. This position was originally slated to be a Senior Planner at a lower salary range. The Shop Division is hiring a Facility Maintenance Technician to assist in the maintenance repair of the Recreation Facility, Town Hall, Operations Facility and Transit Facilities. The Finance Department is adding an accountant position due to the growth of the Town over the past 10 years. The Police Department is increasing a half-time position to a full-time year round position. The Recreation Division is adding a Program Coordinator to take charge of putting programs together such as soccer and softball and they are adding a Recreation Assistant for front desk help. They are also shifting some part-time positions to year round positions to help with employee retention. This change results in additional benefit costs. Grants & Donations for Cultural Arts and Health & Human Services are budgeted to remain at $142,000 for 2008 in the one-time budget, plus an additional 20,400 in the General Fund for a total of$162,400. The Town hired an outside consultant to conduct a salary and benefit survey and to evaluate the Towns salaries and benefits against comparable organizations. The salary study showed that because the Town has been increasing its wage scale by 3% each year, the Towns wage scale only needed minimal adjustments to approximately ten positions. The majority of positions remained the same. The salary survey recommended that the Towns wage scale be increased by up to 4.5%, but the Town staff opted to stay with the historical increase of 3%. The benefit survey also showed that the majority of the benefit package was within the standards offered by similar organizations. The exceptions were in the health insurance and retirement benefits. The health insurance premiums that the Town is paying are higher than the other organizations, but retirement benefits were lower than other organizations. The Town Manager has commissioned an employee committee to begin looking at the overall benefit package and to recommend changes. The 2008 proposed budget is based on the current benefit structure and any changes that come out of the committee will be reflected in the 2008 revised budget. The pay for performance increase continues to be budgeted at 3%. The current budget does not include the proposed Construction Mitigation Fee or the associated costs for this program. If this fee is approved at 2nd reading, the amounts will be added to the revenues and expenditures in the 2008 revised 11 budget. The Base Village amounts that were anticipated to be received in 2008 per the Fiscal Impact analysis were reduced to 25% of the amount due to the delay in construction. The Transfer-in RETT Fund is budgeted to increase substantially in the 2008 proposed budget due to the Pool/Fitness Center and Gym. As previously stated, there is the addition of employees and budgeted programs. The increase is slightly offset by revenues, which show minimal increases. In the 2008 budget, the impacts of the New Town Hall costs are felt by the General Fund, but are absorbed and covered by the budgeted revenues. However, in 2009, the full extent of the impact of the COP is realized with its first full year payment. New Issues: The General Fund is also impacted in 2009 by a substantial increase in heating costs for the new section of snowmelting outside of Base Village. The 2009 budget also includes the new parking program, which is mostly offset by additional revenues. For these reasons, the Transfer in RETT includes a reimbursement for Vehicle Gas & Oil for the Transportation rolling stock as approved by the ballot issue to offset this impact. This transfer was discussed with the Town Council at the time of the COP as a possible offsetting revenue for the General Fund. This is also in keeping with the budget policy of using the most restricted funds first. The 2008 budget includes increases to the Grassroots contract of approximately 15,167. Grassroots would like the opportunity to come to a Council meeting to explain the increases for both Channel 11 and 12. The Transportation Department has included the expansion of service levels for Route 8 in their budget based on the application of a grant from the Colorado Department of Transportation Transit Unit for Route 8 to dovetail with Route 3 to cover all of the employee housing projects and the Center and Mall with 15- minute service. They will find out in September if the grant will be awarded. Town staff would like approval from the Town Council to move all landscape- related costs from the RETT Fund into the General instead of having them split up between the two funds. This would make managing the Landscaping Program much easier and it would allow for a comprehensive picture of all of the landscaping costs to the Town. The RETT Fund would continue to pay for this program through the Transfer In. Solid Waste revenues project a 20% increase in fee collections for 2008, based on the increase in fees from the Pitkin County Landfill and normal inflation costs in expenditures. 12 4'^a. =.q t:a V#«': -*g°.(.f,3..+su' xx..Md`P uSWch "nva.<u.L.xudG.$4:.alu'f:_4.to 2007-2008 Budgeted One-Time Expenditures Staff has budgeted $179,000 in 2007 revised and $100,000 in 2008 for the Comprehensive Plan update. 2008 Unbudueted General Fund Items Town Staff is considering hiring a full-time janitor to clean the Town Hall on a daily basis with the major cleaning done 2-3 times per week. In addition, the janitor would clean the Operations Facility and possibly the Recreation Facility. The costs for this position will mostly be offset by the amounts budgeted in the General Fund for contract service. Town Staff believes that there is a need to purchase a Town GIS/mapping program and plotter and to work with Pitkin County to provide mapping services. The cost of this system is approximately $20,000. The General Fund nor the Group Sales or Marketing/Special Events Fund have budgeted for the possible impacts on sales/lodging taxes of the West Village Revitalization Project, should this project move forward. Conclusion/Recommendations Staff has carried forward the budget philosophies agreed upon during last years budget season. We have presented you a balanced budget for 2008 and 2007 remains balanced. 2008 General Fund Operating Revenues exceed Operating Expenditures by $263,328 and the Towns unrestricted reserves exceed 15% of the Operating Revenues. Over this past year we have worked to enhance the Towns revenue stream through charges for services, securing grants and increases in fees. We will carry this approach through to 2008. We used funds from the Technology/Efficiency Fund as a way to help keep costs from rising. Staff will continue to look for ways to be more productive and efficient. The goal is to adopt the budget by October 29, 2007. We look forward to discussing the budget with you 13 Town of Snowmass Village 2007 Revised Budget 2008 Proposed Budget Budget Philosophy Balance On- going Revenues/ Expenditures Identify Opportunities for Cost/ Service Efficiencies Use Most Restricted Funds First Manage Equipment Replacement Program Identify Funds Available/ Reserves Use One- time Funds for Cane- time Costs Identify Capital Improvement Projects Maintain General Fund Reserve Policy Recommendations 2 Town. of Snowmass Village Summary of All Funds & Outstanding Debt Town of Snowmass Village All Funds - Budget Summary - 2008 Furl mi g Fund Balance Revenues E? w4tures Transfers Other Ending Fund Balance General Fund 5, 128, 630. 07 $ 10, 210, 442 $ ( 12, 647, 482) $ 2, 880, 368 $ ( 410, 900) $ 5, 161, 058. 07 Debt Service Fund 23, 162. 90 $ 2, 001, 756 $ .( 2, 003, 485) 21, 433. 90 Lottery Fund 130, 021. 63 $ 27, 103 $ 120, 000) 37, 124. 63 RETT Fund 4, 076, 862. 16 $ 4, 009, 280 $ ( 865, 735) $ ( 3, 522, 234) 3, 698, 173. 16 Road Fund 528, 318. 98) $ 2, 853, 236 $ ( 554, 664) $ ( 1, 659, 179) 111, 074. 02 Excise Tax Fund 2, 412, 168. 42 $ 10, 608, 440 $ ( 5, 392, 176) $ ( 459, 772) 7, 168, 660. 42 Marketing Fund 560, 112. 13 $ 3, 949, 439 $ ( 4, 104, 458) 405, 093. 13 Group Sales Fund 141, 882. 81 $ 1, 440, 765 $ ( 1, 409, 603) 173, 044. 81 CIP Fund 808, 972 $ ( 3, 689, 789) $ 2, 880, 817 Housing Fund 986, 205. 00 $ 1, 266, 332 $ ( 1, 160, 932) $ 150, 000 $ ( 346, 518) $ 895, 087. 00 Mtn View I Fund 1, 866, 538. 00 $ 1, 072, 202 $ ( 867, 070) $ ( 150, 000) $ 74, 404) $ 1, 847, 266. 00 Mtn View II Fund 122, 881. 00 $ 240, 435 $ ( 230, 633) 21, 000) $ 111, 683. 00 TOTAL. Funds $ 14, 920, 145. 14 $ 38, 488, 402 $ ( 32, 926, 027) $ 852, 822) $ 19, 629, 698. 14 4 Town of Snowmass Village Outstanding Debt as of 12/ 31/ 08 Balance 2008 Balance Purpose Type at 12/ 31/ 07 Principal Paid at 12/ 31/ 08 Maturity Date Operations Facility General Obligation 1, 370, 000 $ 415, 000 $ 955, 000 Nov. 15, 2010 Road Bond General Obligation 95, 000 $ 30, 000 $ 65, 000 Nov. 15, 2010 Droste Property General Obligation 5, 145, 000 $ 310, 000 $ 4, 835, 000 Dec. 15, 2019 Rodeo Property General Obligation 1, 745, 000 $ 410, 000 $ 1, 335, 000 Dec. 15, 2011 Swimming Pool General Obligation 1, 940, 000 $ 140, 000 $ 1, 800, 000 Aug. 01, 2018 Recreation Center General Obligation 3, 145, 000 $ 3, 145, 000 Oct. 01, 2026 Sub- Total ( NON- HOUSING) 13, 440, 000 $ 1, 305, 000 $ 12, 135, 000 Mtn View Phase II General Obligation 1, 210, 000 $ 100, 000 $ 1, 110, 000 Nov. 15, 2017 Mountain View Limited General Obligation/ Project Revenue $ 4, 145, 000 $ 400, 000 $ 3, 745, 000 Dec. 15, 2016 Housing Project Revenue 2, 865, 000 $ 320, 000 $ 2, 545, 000 Nov. 01, 2014 5ub- Total ( HOVSING- RELATEb) $ 8, 220, 000 $ 820, 000 $ 7, 400, 000 GRAND TOTAL 21, 660, 000 $ 2, 125, 000 $ 19, 535, 000 Town Hall Certificate of Participation( not considered a 8, 515, 000 $ 8, 515, 000 Dec. 01, 2026 debt instrument) 5 Town of Snowmass Village Outstanding Debt as of 12/ 31/ 08 7, 000, 000 6, 000, 000 5, 000, 000 4, 000, 000 H'S» 3, 000, 000 4, 835, 000 3, 745, 000 2, 000, 000 n` a;, . •. 3, 145, 000 1 2, 545, 000 1, 000, 000 1, 800, 000 — ` s 65, OOOi $ 1 335, 000 1, 110, 000 . J 955, 000 r 6 - - 1 FFFF 511 4t Operations Road Bond Rodeo Droste Sw iming Recreation Ntn View Mountain Housing Facility Property Property Pool Center Phase II View Paid off in Paid off in Paid off in Paid off in Paid off in Paid off in """"""'"" Paid off in Paid off in Paid off in 2010 2010 2011 2019 2018 2026 2017 2016 2014 Town Bonds( NON- HOUSING) Housing Related Bonds 6 punkpjauaq961DIIIA!ssvwmoug 10 umol Town of Snowmass Village General Fund Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual PROPOSED REVISED Variance PROPOSED OPERATING REVENUES 11, 847, 509. 32 $ 11, 708, 342. 00 $ 12, 367, 846. 00 $ 659, 504. 00 $ 12, 794, 864. 00 Town Hall Revenues 65, 236. 00 Cougar Canyon Base Village- Revenues 50, 710. 00 OPERATING EXPENDITURES 9, 697, 047. 00) $ ( 11, 140, 000. 00) $ ( 11, 022, 557. 00) $ 117, 443. 00 $ ( 11, 869, 702. 00) Town Hall Expenditures 479, 671. 00) Base Village- Expenditures 38, 173. 00) NET REVENUE over EXPENDITURES 2, 150, 462. 32 $ 568, 342. 00 $ 1, 345, 289. 00 $ 776, 947. 00 $ 523, 264. 00 Capital Outlay 515, 605. 00) $ ( 276, 302. 00) $ ( 250, 880. 00) $ 25, 422. 00 $ ( 259, 936. 00) GRAND TOTAL - REVENUE over EXPENDITURES 1, 634, 857. 32 $ 292, 040. 00 $ 1, 094, 409. 00 $ 802, 369. 00 $ 263, 328. 00 Other Appropriations/ Reserves 2006 2007 2007 2007 2008 Actual PROPOSED REVISED Variance PROPOSED Inventory 136, 463. 57 $ 130, 000. 00 $ 130, 000. 00 $ 130, 000. 00 Prepaid Expenses 149, 635. 70 $ 120, 000. 00 $ 120, 000. 00 $ 120, 000. 00 Emergency Contingency 286, 114. 04 $ 214, 663. 11 $ 214, 663. 11 $ 214, 663. 11 Capital Equipment Reserve 326, 246. 00 $ 303, 984. 00 $ 303, 984. 00 $ 399, 786. 00 Town Hall COP Reserve- Cougar Canyon 180, 000. 00 $ 360, 000. 00 $ 360, 000. 00 $ 540, 000. 00 Contingency- 15% of Operating Revenue 1, 855, 176. 90 $ 1, 855, 176. 90 $ 1, 936, 621. 50 TOTAL- OTHER APPROPRIATIONS/ RESERVES 1, 078, 459. 31 § 1, 128, 647. 11 $ 2, 983, 824. 01 $ 1, 855, 176. 90 $ 3, 341, 070. 61 Town of Snowmass Village General Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED OPERATING REVENUES 13, 525, 486. 00 $ 14, 014, 982. 00 $ 14, 534, 513. 00 $ 14, 987, 123. 00 Town Hall Revenues 110, 648. 00 $ 111, 440. 00 $ 112, 166. 00 $ 112, 148. 00 Cougar Canyon 90, 000. 00 $ 90, 000. 00 $ 90, 000. 00 $ 90, 000. 00 Base Village- Revenues 202, 838. 00 $ 535, 249. 00 $ 774, 748. 00 $ 1, 047, 301. 00 OPERATING EXPENDITURES 12, 346, 398. 00) $ ( 12, 682, 421. 00) $ ( 13, 013, 280. 00) $ ( 13, 334, 428. 00) Town Hall Expenditures 776, 760. 00) $ ( 781, 479. 00) $ ( 785, 687. 00) $ ( 784, 385. 00) Base Village- Expenditures 152, 692. 00) $ ( 399, 296. 00) $ ( 539, 961. 00) $ ( 685, 183. 00) NET REVENUE over EXPENDITURES 653, 122. 00 $ 888, 475. 00 $ 1, 172, 499. 00 $ 1, 432, 576. 00 Capital Outlay 503, 316. 00) $ ( 516, 065. 00) $ ( 558, 327. 00) $ ( 668, 507. 00) GRAND TOTAL - REVENUE over EXPENDITURES 149, 806. 00 $ 372, 410. 00 $ 614, 172. 00 $ 764, 069. 00 Other Appropriations/ Reserves 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Inventory 130, 000. 00 $ 130, 000. 00 $ 130, 000. 00 $ 130, 000. 00 Prepaid Expenses 120, 000. 00 $ 120, 000. 00 $ 120, 000. 00 $ 120, 000. 00 Emergency Contingency 214, 663. 11 $ 214, 663. 11 $ 214, 663. 11 $ 214, 663. 11 Capital Equipment Reserve 399, 786. 00 $ 399, 786. 00 $ 399, 786. 00 $ 399, 786. 00 Town Hall COP Reserve- Cougar Canyon 630, 000. 00 $ 720, 000. 00 $ 810, 000. 00 $ 900, 000. 00 Contingency- 15% of Operating Revenue 2, 089, 345. 80 $ 2, 212, 750. 65 $ 2, 326, 714. 05 $ 2, 435, 485. 80 TOTAL- OTHER APPROPRIATIONS/ RESERVES 3, 583, 794. 91 $ 3, 797, 199. 76 $ 4, 001, 163. 16 $ 4, 199, 934. 91 9 Town of Snowmass Village General Fund - One Time Funds Available Available Reserves and One- time Funds 2006 2007 2007 2007 2008 ACTUAL PROPOSED REVISED Variance PROPOSED Funds Available from previous years 2, 298, 375. 70 $ 2, 625, 113. 44 $ 894, 230. 74 $ ( 1, 730, 882. 70) $ 693, 150. 46 Year end- Funds Available 1, 238, 091. 54 $ 787, 708. 00 $ 1, 634, 857. 32 $ 847, 149. 32 $ 1, 094, 409. 00 TOTAL AVAILABLE FUNDS 3, 536, 467. 24 $ 3, 412, 821. 44 $ 2, 529, 088. 06 $ 883, 733. 38 $ 1, 787, 559. 46 Other Revenues- Cougar Canyon to Town Hall Reserve 180, 000. 00 $ 180, 000. 00 180 000. 00 Other Expenditures Transfer to CIP Town Hall-( Design and FF dE) 500, 000. 00) $ ( 818 164. 00) One- time Purchases 736, 871. 80) $ ( 691, 314. 00) $ ( 840, 527. 00) $ ( 149, 213. 00) $ 410, 900. 00) Transfer to Capital Projects Fund Capital Equipment Reserve Used- Road CIP- Operating d Maintenance NET AVAILABLE FUNDS 2, 799, 595. 44 $ 2, 401, 507. 44 $ 1, 050, 397. 06 $ ( 1, 351, 110. 38) $ 1, 556, 659. 46 GENERAL FUND - FUND BALANCE SUMMARY Annual Revenue over Expenditures $ 1, 634, 857. 32 $ 292, 040. 00 $ 1, 094, 409. 00 $ 802, 369. 00 $ 263, 328. 00 Total One- time Funds Available $ 2, 799, 595. 44 $ 2, 401, 507. 44 $ 1, 050, 397. 06 $ ( 1, 351, 110. 38) $ 1, 556, 659. 46 Grand Total- Funds Available $ 4, 434, 452. 76 $ 2, 693, 547. 44 $ 2, 144, 806. 06 $ 548, 741. 38 $ 1, 819, 987. 46 Other Appropriations/ Reserves 1, 078, 459. 31 $ 1, 128, 647. 11 $ 2, 983, 824. 01 $ 1, 855, 176. 90 $ 3, 341, 070. 61 Total Fund Balance 5, 512, 912. 07 $ 3, 822, 194. 55 $ 5, 128, 630. 07 $ 1, 306, 435. 52 $ 5, 161, 058. 07 10 Town of Snowmass Village General Fund - One Time Funds Available Available Reserves and One- time Funds 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Funds Available from previous years 1, 313, 935. 16 $ 303, 210. 31 $ 51, 884. 91 $ 12, 709. 84) Year end- Funds Available 263, 328. 00 $ 149, 806, 00 $ 372, 410. 00 $ 614, 172. 00 TOTAL AVAILABLE FUNDS 1, 577, 263. 16 $ 453, 016. 31 $ 424, 294. 91 $ 601, 462. 16 Other Revenues- Cougar Canyon to Town Hall Reserve $ 90, 000. 00 $ 90, 000. 00 $ 90, 000. 00 $ 90, 000. 00 Other Expenditures Transfer to CIP Town Hall -( Design and FF& E) One- time Purchases 350, 000. 00) $ ( 235, 000. 00) $ ( 274, 500, 00) $ ( 252, 000. 00) Transfer to Capital Projects Fund 750, 000. 00) Capital Equipment Reserve Used- Rood CIP- Operating A Maintenance 50, 648. 00) $ 52, 168. 00) $ 53. 73 3. 00) $ 55, 345. 00) NET AVAILABLE FUNDS 516. 615. 16 $ 255, 848. 31 $ 186, 061. 91 $ 384, 117. 16 GENERAL FUND - FUND BALANCE SUMMARY Annual Revenue over Expenditures $ 149, 806. 00 $ 372, 410. 00 $ 614. 172. 00 $ 764, 069. 00 Total One- time Funds Available 516, 615. 16 $ 255, 848. 31 $ 186, 061. 91 $ 384, 117. 16 rand Total- Funds Available $ 666, 421. 16 $ 628, 258. 31 $ 800, 233. 91 $ 1, 148, 186. 16 Other Appropriations/ Reserves 3, 583, 794. 91 $ 3, 797, 199. 76 $ 4, 001, 163. 16 $ 4, 199, 934. 91 Total Fund Balance 4. 250, 216. 07 $ 4, 425, 458. 07 $ 4, 801, 397. 07 $ 5, 348, 121. 07 Town of Snowmass Village General Fund Appropriations Reserves Balance @ U= Unrestricted Type 12/ 31/ 2008 R= Restricted Description/ Constraints Inventory 130, 000. 00 R Appropriated from expenditures and are not spendable resources: for Gas/ Oil, Parts & Supplies and Bus Passes Prepaid Expenses 120, 000. 00 R Appropriated from expenditures and are not spendable resources: for Wkmns Comp, Bldg Lease Pymts, Health Insurance, etc. Emergency Contingency 214, 663. 11 R Per State Constitution ( TABOR) the Town must set aside 3% of Fiscal Year Expenditures into an emergency contingency reserve Capital Equipment Reserve 399, 786. 00 U Per Resolution # 95 of 1990, these funds are used only for the purpose of future capital purchases according to the Capital Reserve Plan. Funds may be used for emergencies as determined by the Town Council by a two- thirds majority vote. Town Hall COP Reserve - 540, 000. 00 U Based on annexation agreement for Cougar Canyon, the Town will Cougar Canyon receive $ 180, 000 for 12 years. A portion of these funds are being allocated towards the new Town Hall debt service payments. Contingency- 15% Operating Rev $ 1, 936, 621. 50 U A contingency fund based on 15% of operating revenues Funds Available 1, 819, 987. 46 U Unappropriated Funds TOTAL 5, 161, 058. 07 Total General Fund fund balance 12 Town of Snowmass Village General Fund Summary 15, 000 12, 911 12, 368 L— . - $ 12, 388 12, 000 11, 708 11, 140z; to $ 11, 0231 w va $ 9, 000 Operating Revenues Operating Expenditures w Transfers Out 0r Capital Outlay F c 6, 000 3, 000 500 n 818x 276 K 251 260 2007 Bud pt 2007 Revised 2008 Budget Note: Excludes m jor projects 13 Town of Snowmnss Village General Fund Operating Revenues 2008 Transfers from Other Other Financing Sources Funds 0% 22% 3, 200 2, 880, 368 Sales Taxes 32% r 4, 113, 071 Miscellaneous 3% Nn 346, 264 Property Taxes Contributions 304, 492 8% 1, 018, 694 4u Other Taxes 5% Fines and Forfeits 660, 662 1%65, 375 Intergovernmental Charges for Services Licenses/ Permits Revenue 17% 5%, 5% 2, 182, 162 623, 591 662, 221 14 Town of Snowrnass Village Sales Takes 3, 000, 000 2, 695, 419 2, 591, 749 2, 481, 217 j 2, 500, 000 2, 000, 000 4— Town Sales Taxes Z 1, 417, 652 — 0— County Sales Taxes O 1, 348, 514 1, 500, 000 1, 275, 705 Z 1, 000, 000 500, 000 2006 Actual 2007 Revised 2008 Proposed 15 Town of Snowmass Village General Fund Operating Expenditures by bepartment and Qivision ( inc capital) 2008 P. W. Administration P. W. Parks, Trails and Recreation Town Manager 2% 12% 40/6 237, 536 1, 527, 732 586, 580 Transportation 21% Building 2. 678, 647 w rt:' 1 3% t 405, 053 r F« Town Council 3% Public Safety 351, 798 13% 1, 600, 226 P. W. Solid Waste 5%618, 721 Planning 5%626, 565 P. W. Shop Finance 6% 7% Town Clerk P. W. Road 761, 300 872, 476 8% 11% 1, 007, 403 1, 335, 272 16 Revenues 2007 Budget 11, 708, 342 General Fund County Sales Tax 69, 065 Y-T- D plus 3% for remaining months Comparisons Sales Tax 90, 031 Y-T- D plus 3% for remaining months Budget Comparisons Franchise/ Occup Tax 36, 112 Increase in utility costs 2W7 Budget RTA Service Contract 24, 740 Increase in operational costs FTA- 5311 Grant 74, 839 Increase in FTA funding Building Permits 389, 785 Base Village to 2© Q7 Revised Bldg Plan Check Fees 42, 651 Base Village Planning Dept Fees 128, 206) Time spent on Town projects/ No Smass Ctr Pool& Fitness Fees 48, 079) 1st year of operation Special Bus Runs 22, 000 Mall to Rodeo during road closure Solid Waste Fees 14, 147 Increase in service response needs EOTC- Comp Plan 21, 000 Contribution for Comp Plan for Transit portion Interest Inc& Penalties 61, 445 Increase in interest rates Transmitter Site Fees 26, 813 New site leases- Crown Castle Fitness Ctr Concessions 25, 907) Reduction based on actual sales Transfer In- RETT 108, 057) Dec Parks& Trails budget/ Inc in Pool& Fitness Transfer In- Road 73, 850 Inc in Road Veh Parts/ Shop- new employees Other Accounts 23, 275 2007 Revised Budget $ 12, 367, 846 Expenditures 2007 Budget 11, 416, 302 Payroll 134, 592) Changes in staffing- Attrition Payroll- Benefits 74, 380) Changes in staffing- Attrition Contract Service 45, 874 Comm Rel/ I.T./ Road/ Rec/ Bldg Utilities 60, 918) Lower than anticipated Utilities- Snewmelt Road 28, 659) Lower than anticipated Dump Fees 19, 160 Increase by Pitkin County Landfill Building- Mntn 12, 820) For transit center Contract Labor 27, 000 Fitness Center/ Classes Vehicle Gas& Oil 65, 510) Gas prices fluctuated up and down Vehicle Parts& Supplies 59, 199 Road- Equipment repairs Write- off Accts Receivable $ 68, 000 Booked, but uncollectable Other Accounts 14, 781 2007 Revised Budget $ 11, 273, 437 17 General Fund Revenues 2007 Budget 11, 708, 342 County Sales Tax 172, 735 Budgeted 4% over 2007 Revised Budget Comparisons Town Sales Tax 159, 169 Budgeted 4% over 2007 Revised 2007 Franchise/ Occup Tax 48, 982 Increase in Utilitiestbased on gross sales/ volume RTA- Service Contract 38. 950 Increase in overall costs Budget FTA- 5311 64, 839 Increase in grant distribution Building& Electrical Permits $ 45, 094) Lower amount of activity that generates fees to 2008 Proposed Bldg Plan Check Fees 76, 043) Lower amount of activity that generates fees Planning Dept Fees 38, 206) Depends on developments Recreation Fees 37, 450 New Programs Pool and Fitness Ctr Fees 49, 773) Finalized fee structure Trans/ Parking Fees 10, 125 Same as 2007 revised Fitness Center/ Trainers 25, 648 Increase in programs Solid Waste Fees 135, 247 20% Increase due to budget& landfill increases Ski Corp Contributions 59, 327 2% Inc in skier visits& escalator EOTC- Comp Plan 14, 000 Contribution to Comp Plan/ Transit Holy Cross Enhancement 11, 322 Based on gross sales Interest Inc& Penalties 22, 500 Based on available funds Transmitter Site Fees 26, 813 Add' I site lease- Crown Castle Fitness Center Concessions $ 20, 000) Sales less than anticipated Rent- Town Hall 65, 236 From Marketing& Group Sales Transfer In- RETT 256, 045 Increase in Parks/ Rec subsidy Transfer In- Road 211, 406 Vehicle purchase/ snow removal Base Village Revenues 50, 710 Per Fiscal Impact Analysis Other Accounts 21, 080 12008 Proposed Budget $ 12, 910, 810 Expenditures 2001 Budget 11, 416, 302 Payroll- 236, 278 Budgeted 3% pay for performance raises Payroll- Benefits- 166, 178 Budgeted increases in health ins/ rec ben/ wkmn Payroll O.T. 35, 152 Road/ S. Waste/ Shop Travel/ Training 31. 697 T. Mgr/ I.T./ Planning/ Road Payroll- New 237, 505 Comm Dev Dir/ Fac Mntn Tech/ Acc' t/ Rec staff/ Police Offt Payroll- Benefits- New 143, 793 Comm Dev Dir/ Fac Mntn Tech/ Ace' t/ Rec staff/ Police Offr Bldg- cleaning 34, 460 New Town Hall Bldg- maintenance 36, 675 New Town Hall/ Transit Center utilities 18, 782 New Town Hall Contract Service 65, 474 Grassroots/ Comm Rel/ Road- snow remvVstreets/ signs Dump Fees 48, 325 Increase by Pitkin County Landfill Building Lease Pymts 109, 293 COP- new Town Hall/ Transp office Vehicle Parts& Supplies 25, 374 Trans/ Road- based on history Advertising 10, 674 Parks/ Trails/ Pool Base Village 38, 173 Based on Fiscal Impact Analysis Other Accounts 6, 653) 12008 Proposed Budget $ 12, 647, 482 1 18 General Fund One- Time Expenditures 2007 Budget 2007 Revised 2008 Proposed Purchased Services Consultant- Finance 15, 000 $ 20, 000 $ Town Council- Franchise Negotiator $ 15, 000 $ Consultant- Town Council 15, 300 $ Historical Preservation Project 40, 000 $ 45, 000 $ Consultant- Comp Plan 179, 000 $ 100, 000 Consultant- Community Survey 15, 000 $ Operating & Maintenance Grants & Donations Marketing Fund/ Summer Concerts $ 22, 000 $ 22, 000 $ 22, 000 Cultural Arts 33, 000 $ 33, 000 $ 33, 000 Health & Human Services 87, 000 $ 87, 000 $ 87, 000 Capital Outlay Arts Board 15, 000 $ 20, 000 Finance- Hardware/ Software 15, 000 $ 44, 252 $ Technology/ Efficiency 50, 000 $ 50, 000 $ 50, 000 Trans- Radio- Phone Mounts 3, 500 $ Road- Chainsaw 650 $ Sales/ Lodging Tax Software 50, 000 $ Faraway Dumpster Shed 100, 000 $ 50, 000 Trans- Bus Route- Digitizing 18, 000 Concrete Work- Operations Fac 120, 000 $ Shop- Tire Balancer 11, 000 Crossings Home 17, 000 $ 20, 310 $ 13, 400 CCTH# 60 1, 100 $ 1, 100 $ 500 Little Red Schoolhouse 6, 500 $ 9, 000 $ Police- Hand Ticket Machine 12, 714 $ 12, 714 $ Shop- Diagnostic Laptop 6, 000 Comm Relations- Message Board $ 25, 000 $ DT Wash Recycling Equip 130, 000 $ 130, 000 $ Shop- Tire Mezzanine 27, 000 $ 27, 474 $ Ditch Work 35, 227 $ GRAND TOTAL 691, 314 $ 840, 527 $ 410, 900 19 Town of Snowm, , ass Village Real Estate Transfer Tax Fund Town of Snowmass Village Real Estate Transfer Tax Fund Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED BEGINNING CARRYOVER 10, 764, 385. 00 $ 6, 079, 765. 00 $ 7, 918, 482. 16 $ 1, 838, 717. 16 $ 4, 076, 862. 16 OPERATING REVENUES 5, 311, 163. 37 $ 3, 292, 000. 00 $ 6, 607, 674. 00 $ 3, 315, 674. 00 $ 4, 009, 280. 00 OPERATING EXPENDITURES 1, 648, 183. 21) $ ( 1, 803, 359. 00) $ ( 1, 857, 815. 00) $ ( 54, 456. 00) $ ( 2, 086, 924. 00) NET REVENUE over EXPENDITURES 3, 662, 980. 16 $ 1, 488, 641. 00 $ 4, 749, 859. 00 $ 3, 261. 218. 00 $ 1, 922, 356. 00 Transfer Out- Capital Projects Fund 6, 508, 883. 00) $ ( 4, 805, 357. 00) $ ( 8, 478, 479. 00) $ ( 3, 673, 122. 00) $ ( 2, 301, 045. 00) Town Hall- Landscaping 113, 000. 00) $ ( 113, 000. 00) Capital Projects 0& M Base Village- Per FIA--- Revenues Base Village- Per FIA--- Expenditures YEAR END CARRYOVER 7, 918, 482. 26 $ 2, 763, 049. 00 $ 4, 076, 862. 16 $ 1, 313, 813. 16 $ 3, 698, 173. 16 Appropriations/ Reserves of the Year End Carryover 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED Capital Equipment Reserve 574, 466. 00 $ 580, 529. 00 $ 580, 529. 00 $ 782, 393. 00 Interfund Receivable 669, 082. 58 $ 619, 082. 58 $ 619, 082. 58 $ 569, 082. 58 Contingency 2, 000, 000. 00 $ 2, 000. 000. 00 $ 2, 000, 000. 00 Funds Available 6, 674, 933. 58 $ 1, 563, 437. 42 $ 877, 250. 58 $ ( 686, 186. 84) $ 346, 697. 58 TOTAL- OTHER APPROPRIATIONS/ RESERVES 7, 918, 482. 16 $ 2, 763, 049. 00 $ 4, 076, 862. 16 $ 1, 313, 813. 16 $ 3, 698, 173. 16 21 Town of Snowmass Village Real Estate Transfer Tax Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 3, 698, 173. 16 $ 4, 695, 372. 16 $ 5, 599, 074. 16 $ 4, 675, 478. 46 OPERATING REVENUES 4, 009, 990. 00 $ 3, 967, 766. 00 $ 4, 086, 799. 00 $ 4, 209, 403. 00 OPERATING EXPENDITURES 3, 302, 575. 00) $ ( 2, 506, 088. 00) $ ( 2, 622, 625. 00) $ ( 2, 090, 824. 00) NET REVENUE over EXPENDITURES 707, 415. 00 $ 1, 461, 678. 00 $ 1, 464, 174. 00 $ 2, 118, 579. 00 Transfer Out- Capital Projects Fund 867, 099. 00) $ ( 2, 295, 844. 00) $ ( 3, 237, 144. 00) $ ( 397, 478. 00) Town Hall- Landscaping Capital Projects O 6 M 192, 175. 00) $ ( 198, 790. 00) $ ( 204, 753. 70) $ ( 210, 896. 31) Base Village- Per FIA--- Revenues 1, 349, 058. 00 $ 1, 936, 658. 00 $ 1, 054, 128. 00 $ 1, 078, 836. 00 Base Village- Per FIA--- Expenditures YEAR END CARRYOVER 4, 695, 372. 16 $ 5, 599, 074. 16 $ 4, 675, 478. 46 $ 7, 264, 519. 15 Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Capital Equipment Reserve 782, 393. 00 $ 782, 393. 00 $ 782, 393. 00 $ 782, 393. 00 Interfund Receivable 519, 082. 58 $ 469, 082. 58 $ 419, 082. 58 $ 369, 082. 58 Contingency 2, 000, 000. 00 $ 2, 000, 000. 00 $ 2, 000, 000. 00 $ 2, 000, 000. 00 Funds Available 1, 393, 896. 58 $ 2, 347, 598. 58 $ 1, 474, 002. 88 $ 4, 113, 043. 57 TOTAL- OTHER APPROPRIATIONS/ RESERVES 4, 695, 372. 16 $ 5, 599, 074. 16 $ 4, 675, 478. 46 $ 7, 264, 519. 15 22 Real Estate Transfer Tax Fund Revenues and Expenditures 2008 10, 000 9, 000 8, 478 8, 000 0 Operating Revenues 7, 000 6, 608 Operating Expenditures 13 Transfers Out y 6, 000 c o 5, 000 4, 805 c 4, 009 i 4, 000 — 3, 292 , 3, 000 2, 301 2, 087 . ---- 1, 0803 1, 858 2, 000 1, 000 2007 Budget 2007 Revised 2008 Budget 23 Real Estate Transfer Tax Fund Budget Comparisons - 2407 Budget to 2007 Revised Revenues 2007 Budget 39292, 000 Real Estate Transfer Taxes 3, 046, 800 Base Village/ Mtn Chalet/ Resales Interest Income 278, 234 Higher interest rates/ Higher fund balance Other Accounts 9, 360) FTA Capital Grant 2007 Revised Budget 6, 607, 674 Expenditures 2007 Budget 1, 803, 359 Bus & Equipment 12, 765) Based on vehicle replacement Transfer Out- G. F. Landscpe 144, 256) Short staffed/ cut cash purchases Contract Service 21, 240 Due to short staffed in Landscaping Ballfield Enhancement 20, 000) Moved to 2008 Base Village- I. T. system 20, 000 Computer setup Rodeo Depot/ Flooring 17, 000 Flooring Owl Creek Road 105, 508 Paving Transfer Out- Pool/ Rec Ctr 36, 199 Did not receive budgeted fees Traffic Counters 20, 000 Delayed to 2008 Other Accounts 11, 530 2007 Revised Budget 1, 857, 815 1 24 Rea! Estate Transfer Tax Fund Budget Comparisons - 2007 Budget to 2008 Proposed Revenues 2007 Budget 3, 292, 000 Real Estate Transfer Taxes 584, 000 Increase in Base Revenues/ Countryside Interest Income 135, 000 Based on 2007 revised Other Accounts 1, 720) 2008 Proposed Budget 49009, 280 Expenditures 2007 Budget 1, 803, 359 Bus & Equipment 36, 759) Based on Replacement Schedule Transp- vehicle 25, 000 Need add' I vehicle Transportation Restrooms 15, 000 Renovations Transfer Out- G. F. Landscpe 48, 601) Reduction in cash purchases Transfer Out- G. F. Pool/ Recreation $ 304, 646 Pool/ Recreation Program/ New Gym Other Accounts 24, 279 2008 Proposed Budget 2, 086, 924 25 punk A, A' Zq JJIW PWd a6ull! A SSD, umous 10 umol Town of Snowmass Village Road Mitt Levy Fund Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED BEGINNING CARRYOVER 645, 456. 66) $ ( 630, 987. 27) $ ( 630, 758. 98) $ 228. 29 $ ( 528, 318. 98) OPERATING REVENUES 1, 889, 646. 49 $ 2, 028, 126. 00 $ 1, 977, 316. 00 $ ( 50, 810. 00) $ 2, 853, 236. 00 OPERATING EXPENDITURES 1, 874, 948. 81) $ ( 1, 906, 534. 00) $ ( 1, 874, 876. 00) $ 31, 658. 00 $ ( 2, 213, 843. 00) NET REVENUE over EXPENDITURES 14, 697. 68 $ 121, 592. 00 $ 102, 440. 00 $ ( 19, 152. 00) $ 639, 393. 00 Base Village- Per FIA--- Property Tax Revenues YEAR END CARRYOVER 630, 758. 98) $ ( 509, 395. 27) $ ( 528, 318. 98) $ ( 18, 923. 71) $ 111, 074. 02 Appropriations/ Reserves of the Year End Carryover 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED Interfund Payable 669. 082. 58) $ ( 619, 082. 58) $ ( 619, 082. 58) $ 569, 082. 58) Funds Available 38, 323. 60 $ 109, 687. 31 $ 90, 763. 60 $ ( 18, 923. 71) $ 680, 156. 60 TOTAL- OTHER APPROPRIATIONS/ RESERVES 630, 758. 98) $ ( 509, 395. 27) $ ( 528, 318. 98) $ ( 18, 923. 71) $ 111, 074. 02 27 Town of Snowmass Village Road Mill Levy Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 111, 074. 02 $ 496, 484. 02 $ 1, 048, 209. 02 $ 1, 463, 262. 02 OPERATING REVENUES 2, 779, 285. 00 $ 2, 961, 591. 00 $ 2, 967, 080. 00 $ 3, 037, 351. 00 OPERATING EXPENDITURES 2, 469, 930. 00) $ ( 2, 570, 939. 00) $ ( 2, 755, 054. 00) $ ( 2, 859, 814. 00) NET REVENUE over EXPENDITURES 309, 355. 00 $ 390, 652. 00 $ 212, 026. 00 $ 177, 537. 00 Base ViIloge - Per FIA --- Property Tax Revenues 76, 055. 00 $ 161, 073. 00 $ 203, 027. 00 $ 210, 133. 00 YEAR END CARRYOVER 496, 484. 02 $ 1, 048, 209. 02 $ 1, 463, 262. 02 $ 1, 850, 932. 02 Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Interfund Payable 519, 082. 58) $ ( 469, 082. 58) $ ( 419, 082. 58) $ ( 369, 082. 58) Funds Available 1, 015, 566. 60 $ 1, 517, 291. 60 $ 1, 882, 344. 60 $ 2, 220, 014. 60 TOTAL- OTHER APPROPRIATIONS/ RESERVES 496, 484. 02 $ 1, 048, 209. 02 $ 1, 463, 262. 02 $ 1, 850, 932. 02 28 V F g Road Mill Levy Fund Revenues and Expenditures 2008 3, 000 2, 853 2, 500 a _ L $ 2 02 K 1, 907 1 977 2, 000 1, 875 4 a wn Operating V Revenues y Operating c 1, 500 Expenditures t 1, 000 KK 500 d J sR m 2007 Budget 2007 Revised 2008 Budget 29 Road Mill Levy Fund Budget Comparisons - 2007 Budget to 2007 Revised Revenues 2007 Budget 2, 028, 126 Occupancy Assessments 51, 457) Have not applied for Cert of Occup yet Other Accounts 647 2007 Revised Budget 11977, 316 Expenditures 2007 Budget 1 , 906, 534 Other Accounts 31, 658) Road Projects/ Transfer out- General Fund 2007 Revised Budget 19874, 876 30 Road Mill Levy Fund Budget Comparisons - 2007 Budget to 2008 Proposed Revenues 2007 Budget 2, 0281126 Property Taxes 668, 886 Increase in Assessed Valuation Occupancy Assessments 153, 543 Base Village Interest Income 2, 681 Higher interest rates/ Higher fund balance Other Accounts 2008 Proposed Budget 2, 8539236 Expenditures 2007 Budget 199069534 Transfer Out- Gen Fund 211, 406 Increase in Road Div costs Collection Fees 12, 418 Based on Property Taxes Road Projects 83, 485 Road projects for 2008 Other Accounts 2008 Proposed Budget 2, 213, 843 31 ZE punkAja* 4ola6nll ! / 1 SSTDWMOUS 4- 0 UMOJ Town of Snowmass Village Lottery Fund Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual Budget Revised variance PROPOSED BMNNIW CARRYOVER 70, 425. 39 $ 98, 679. 92 $ 99, 527. 63 $ 847. 71 $ 130, 021. 63 OPERATING REVENUES 29, 102. 24 $ 29, 102. 00 $ 30, 494. 00 $ 1, 392. 00 $ 27, 103. 00 OPERATING EXPENDITURES NET REVENUE over B( PEMMMES 29, 102. 24 $ 29, 102. 00 $ 30, 494. 00 $ 1, 392. 00 $ 27, 103. 00 Transfer Out- Capital Projects Fund 120, 000. 00) $ 120, 000. 00 $ ( 120, 000. 00) YEAR END CARRYOVER 99, 527. 63 $ 7, 781. 92 $ 130, 021. 63 $ 122, 239. 71 $ 37, 124. 63 Appropriations/ Reserves of the Year End Carryover 2006 2007 2007 2007 2008 Actual Budoet Revised variance PROPOSED Funds Available 99, 527. 63 $ 7, 781. 92 $ 130, 021. 63 $ 122, 239. 71 $ 37, 124. 63 TOTAL- OTHER APPROPRIATIONS/ RESERVES 99, 527. 63 $ 7, 781. 92 $ 130, 021. 63 $ 122, 239. 71 $ 37, 124. 63 33 IMMM Tmi AMi: i5 pmi, m Town of Snowmass Village Lottery Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 37, 124. 63 $ 65, 040. 63 $ 93, 793. 63 $ 123, 409. 63 OPERATING REVENUES 27, 916. 00 $ 28, 753. 00 $ 29, 616. 00 $ 30, 505. 00 OPERATING EXPENDITURES NET REVENUE over EXPENDITURES 27, 916. 00 $ 28, 753. 00 $ 29, 616. 00 $ 30, 505. 00 Transfer Out- Capital Projects Fund YEAR END CARRYOVER 65, 040. 63 $ 93, 793. 63 $ 123, 409. 63 $ 153, 914. 63 Appropriations/ Reserves: of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Funds Available 65, 040. 63 $ 93, 793. 63 $ 123, 409. 63 $ 153, 914. 63 TOTAL- OTHER APPROPRIATIONS/ RESERVES 65, 040. 63 $ 93, 793. 63 $ 123, 409. 63 $ 153, 914. 63 34 Lottery Fund Revenues and Expenditures 2008 150 125 120 100 E3 Operating Revenues O Operating Expenditures o 75 OTransters Out LF C 50 29 j $ 30 1 $ 27 25 2007 Budget 2007 Revised 2008 Budget 35 Lottery Fund Budget Comparisons - 2007 Budget to 2007 Revised Revenues 2007 Budget 295102 Interest Income 1 , 392 Higher interest rates/ Higher fund balance Other Accounts 2007 Revised Budget 309494 Expenditures 2007 Budget No Expenditures 2007 Revised Budget 36 Lottery Fund Budget Comparisons - 2007 Budget to 2008 Proposed Revenues 2007 Budget 299102 Lottery Revenue 761 Increase in Lottery Sales Interest Income 2, 760) Lower fund balance due to transfer to CIP 2008 Proposed Budget 279103 Expenditures 2007 Budget No Expenditures 2008 Proposed Budget 37 punk xol aspx3a6nl VIA SSIDWMOUS } O UMOJ Town of Snowrnass Village Excise Tax Fund Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED BEGINNING CARRYOVER 4, 723, 626. 65 $ 4, 927, 216 22 $ 5, 861, 942. 42 $ 934, 72620 $ 2, 412, 168. 42 OPERATING REVENUES 1, 995, 238. 59 $ 1, 135, 00000 $ 2, 828, 276. 00 $ 1, 693, 276. 00 $ 1, 747, 500. 00 Rodeo Place Home Sales 8, 860, 940. 00 OPERATING EXPENDITURES 83, 164. 00) $ ( 83, 164. 00) $ Rodeo Place Home- Construction 4, 025, 256. 00) $ ( 4, 025, 256. 00) $ ( 4, 835, 355. 00) Solar Panels 100, 820. 00) $ ( 100, 820. 00) $ ( 126, 011. 00) Country Club Townhomes 430, 810. 00) $ ( 430, 810. 00) $ ( 430, 810. 00) NET REVENUE over EXPENDITURES 1, 995, 238. 59 $ 1, 135, 000. 00 $ ( 1, 811, 774. 00) $ ( 2, 946, 774. 00) $ 5, 216, 264. 00 Transfer Out- Capital Projects Fund 856, 922. 82) $ ( 1, 254, 695 00) $ ( 1, 638, 000. 00) $ ( 383, 305. 00) $ ( 459, 772. 00) YEAR END CARRYOVER 5, 861, 942. 42 $ 4, 807, 521. 22 $ 2, 412, 168. 42 $ ( 2, 395, 352. 80) $ 7, 168, 660. 42 Appropriations/ Reserves of the Year End Carryover 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED Cash in- lieu Reserve 791, 770. 00 $ 791, 770. 00 $ 791, 770. 00 Funds Available 5, 861, 942. 42 $ 4, 807, 521. 22 $ 1, 620, 398. 42 $ ( 3, 187, 122. 80) $ 6, 376, 890. 42 TOTAL- OTHER APPROPRIATIONS/ RESERVES 5, 861, 942. 42 $ 4, 807, 521. 22 $ 2, 412, 168. 42 $ ( 2, 395, 352. 80) $ 7, 168, 660. 42 39 Town of Snowmass Village Excise Taut Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 7, 168, 660. 42 $ 8, 423, 585. 42 $ 8, 936, 158. 42 $ 9, 206, 608. 42 OPERATING REVENUES 1, 254, 925. 00 $ 512, 573. 00 $ 270, 450. 00 $ 278, 563. 00 Rodeo Place Home Sales OPERATING EXPENDITURES Rodeo Place Home- Construction Solar Panels Country Club Townhomes NET REVENUE over EXPENDITURES 1, 254, 925. 00 $ 512, 573. 00 $ 270, 450. 00 $ 278, 563. 00 Transfer Out- Capital Projects Fund YEAR END CARRYOVER 8, 423, 585. 42 $ 8, 936, 158. 42 $ 9, 206, 608. 42 $ 9, 485, 171. 42 Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Cash in- lieu Reserve 791, 770. 00 $ 791, 770. 00 $ 791, 770. 00 $ 791, 770. 00 Funds Available 7, 631, 815. 42 $ 8, 144, 388. 42 $ 8, 414, 838. 42 $ 8, 693, 401. 42 TOTAL- OTHER APPROPRIATIONS/ RESERVES 8, 423, 585. 42 $ 8, 936, 158. 42 $ 9, 206, 608. 42 $ 9, 485, 171. 42 40 Excise Tax Fund Revenues and Expenditures 2008 10, 000 10, 608 8, 000 13 Operating Revenues Operating Expenditures C 6, 000 a $ 5, 392 Transfers Out 0 4, 640 r c 4, 000 2, 828 2, 000 1, 135 1s38 1 1, 255 : 460 2007 Budget 2007 Revised 2008 Budget 41 Excise Tax Fund Budget Comparisons - 2007 Budget to 2007 Revised Revenues 2007 Budget 1, 135, 000 Excise Tax 750, 975 More people applied for Additional Floor Area Housing Mitigation 791, 770 Aspen Skiing Company Interest Income 150, 531 Higher interest rates/ Higher fund balance 2007 Revised Budget 2, 8289276 Expenditures 2007 Budget Rodeo Place Homes 4, 025, 256 Employee For- Sale Housing Project Solar Panels 100, 820 Employee For- Sale Housing Project Country Club Townhomes 430, 810 Special Assessment Draw Site Road Work 83, 164 Employee Housing 12007 Revised Budget 4, 640, 050 42 Excise Tax Fund Budget Comparisons - 2007 Budget to 2008 Proposed Revenues 2007 Budget 191359000 Excise Tax 500, 000 Based on history Interest Income 112, 500 Higher interest rates/ Higher fund balance Rodeo Home Sales 8, 860, 940 Employee For- Sale Housing 2008 Proposed Budget 109608, 440 Expenditures 2007 Budget Rodeo Place Homes 4, 835, 355 Employee For- Sale Housing Project Solar Panels 126, 011 Employee For- Sale Housing Project Country Club Townhomes 430, 810 Special Assessment 2008 Proposed Budget 593929176 43 Town of Snowmass Village Marketing,., and Special Events Fund Town of Snowmass Village Marketing & Special Events Fund Budget Summary Revenues over Expenditures 2006 2007 20177 2007 2008 Actual Budge t Revised Variance PROPOSED BEGDqNIW CARRYOVER 871, 155. 16 $ 748, 824. 59 $ 812, 742. 13 $ 63, 917. 54 $ 560, 112. 13 OPERATING REVENUES 3, 450, 636. 75 $ 3, 514, 756. 00 $ 3, 720, 932. 00 $ 206, 176. 00 $ 3, 949, 439. 00 OPERATING EXPENDITURES 3, 509, 049. 78) $ ( 3, 540, 168. 00) $ ( 3, 973, 562. 00) $ ( 433, 394. 00) $ ( 4, 104, 458. 00) NET REVENUE over EXPENDITURES 58, 413. 03) $ ( 25, 412. 00) $ ( 252, 630. 00) $ ( 227. 218. 00) $ ( 155, 019. 00) Transfer Out- Capital Projects Fund YEAR END CARRYOVER 812, 742. 13 773, 412. 59 $ 560, 112. 13 $ ( 163, 300. 46) $ 405, 093. 13 Appropmatimn/ Reserves of the Year End Carryover 2006 2007 20177 2007 2008 Actual Didget Revised Variance PROPOSED Reserve( 10% of Revenues) 345, 063. 68 $ 351, 475. 60 $ 372, 093. 20 $ 20, 617. 60 $ 394, 943. 90 Funds Available 467, 678. 46 $ 371, 936. 99 $ 188, 018. 93 $ ( 183, 918. 06) $ 10, 149. 23 TOTAL- OTHER APPROPRIATIONS/ RESERVES 812, 742. 13 $ 723, 412. 59 $ 560, 112. 13 $ ( 163, 300. 46) $ 405, 093. 13 45 Town of Snowmass Village Marketing & Special Events Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 405, 093. 13 $ 438, 307. 13 $ 481, 552. 13 $ 517, 841. 13 OPERATING REVENUES 4, 157, 074. 00 $ 4, 316, 436. 00 $ 4, 504, 752. 00 $ 4, 676, 261. 00 OPERATING EXPENDITURES 4, 123, 860. 00) $ ( 4, 273, 191. 00) $ ( 4, 468, 463. 00) $ ( 4, 692, 790. 00) NET REVENUE over EXPENDITURES 33, 214. 00 $ 43, 245. 00 $ 36, 289. 00 $ 16, 529. 00) Transfer Out- Capital Projects Fund YEAR END CARRYOVER 438, 307. 13 $ 481, 552. 13 $ 517, 841. 13 $ 501, 312. 13 Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Reserve( 10% of Revenues) 415, 707. 40 $ 431, 643. 60 $ 450, 475. 20 $ 467, 626. 10 Funds Available 22, 599. 73 $ 49, 908. 53 $ 67, 365. 93 $ 33, 686. 03 TOTAL- OTHER APPROPRIATIONS/ RESERVES 438, 307. 13 $ 481, 552. 13 $ 517, 841. 13 $ 501, 312. 13 46 Marketing & Special Events Fund Revenues and Expenditures 2008 4, 500 3, 974 4, 104 4, 000 3, 721 3, 949 3, 515 i ,$ 3, 540 3, 500 y Y J u 3, 000i4a 17Operating C 2, 500 Revenues w Operating o Expenditures 2, 000 c 1, 500 1, 000 500 R 2007 Budget 2007 Revised 2008 Budget 47 Marketing & Special Events Fund Budget Comparisons - 2007 Budget to 2007 Revised Revenues 2007 Budget 3, 514, 756 Town Sales Taxes 225, 077 YTD plus 3% for remaining months Other Accounts 18, 901) 2007 Revised Budget 3, 720, 932 Expenditures 2007 Budget 3, 540, 168 Payroll 21, 079 Addition of info Booth Staffing Payroll- Benefits 15, 315 Underbudgeted Building Lease Payments 10, 000 Increase in lease/ cam charges Supplies- Events 15, 000 Additional supplies Supplies- Office 14, 000 Based on increasing requests for information Postage 15, 000 Growth in mailing list and mailers Concert Sound Enhancement 10, 000 Roofing Sound system- carryover from 2007 Winter Marketing 20, 000 Increase in costs based on new opportunites Summer Marketing 50, 000 Increase in costs based on new opportunites Online Marketing 25, 000 Using more of website marketing Contract Service 10, 000 Contract labor for distribution/ inventory, etc./ stage storg Free concert series 70, 000 Bigger names, new parameters on alcohol Winter X Games 50, 000 Unbudgeted costs Transfer out- Group Sales 50, 000 Support of Group Sales operations Other Accounts 58, 000 2007 Revised Budget 3, 973, 562 48 Marketing & Special Events Fund Budget Comparisons - 2007 Budget to 2008 Proposed Revenues 2007 Budget 3, 514, 756 Town Sales Taxes 397, 920 Budgeting 4% increase over 2007 revised Chili Pepper& Brew Fest 40, 000 Ticket Sales Up/ Event Growing Norba Nationals 65, 000) No income for this event Interest Income 13, 763 Higher interest rates/ Higher fund balance Donations Summer Concerts 47, 000 New Sponsorships Other Accounts 1, 000 2008 Proposed Budget 3, 949, 439 Expenditures 2007 Budget 3, 540, 168 Payroll 82, 442 Add' I staff person/ 3% raises Payroll- benefits 51, 848 Was underbudgeted for 2007 Building Lease Payments 10, 000 Same as 2007 revised Supplies- Office 19, 000 Similar to 2007 revised Summer Marketing 95, 000 Increase in marketing due to new opportunities On- line Marketing 30, 000 Using more of website marketing Public Relations 50, 000 Media Relations Stage Set 50, 000 Upgrades to stage Winter X Games 50, 000 Support of the X games Transfer out- Group Sales 80, 000 Support of Group Sales/ New ambassador staffing Other Accounts 46, 000 2008 Proposed Budget 4, 104, 458 49 Town of Snowmass Village Group Sales Fund 17 1 Town of Snowmass Village Group Sales Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED BEGINNING CARRYOVER 1, 348. 00 $ 80, 787. 81 $ 79, 439. 81 $ 141, 882. 81 OPERATING REVENUES 1, 213, 284. 31 $ 1, 258, 811. 00 $ 1, 400, 360. 00 $ 141, 549. 00 $ 1, 440, 765. 00 OPERATING EXPENDITURES 1132, 496. 50) $ ( 1, 242, 761. 00) $ ( 1, 339, 265. 00) $ ( 96, 504. 00) $ ( 1, 409, 603. 00 NET REVENUE over EXPENDITURES 80, 787. 81 $ 16, 050. 00 $ 61, 095. 00 $ 45, 045. 00 $ 31, 162. 00 Transfer Out- Capital Projects Fund YEAR END CARRYOVER 80, 787. 81 $ 17, 398. 00 $ 141, 882. 81 $ 124, 484. 81 $ 173, 044. 81 Appropriations/ Reserves of the Year End Carryover 2036 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSE RESERVE( 10% of Revenues) 140, 036. 00 $ 140, 036. 00 $ 144, 076. 50 Funds Available 80, 787. 81 $ 17, 398. 00 $ 1, 846. 61 $ ( 15, 551. 19) $ 28, 968. 31 TOTAL- OTHER APPROPRIATIONS/ RESERVES 80, 787. 81 $ 17, 398. 00 $ 141, 882. 81 $ 124, 484. 81 $ 173, 044. 81 51 Town of Snowmass Village Group Sales Budget Summary . Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 173, 044. 81 $ 140, 254. 81 $ 155, 373. 81 $ 168, 973. 81 OPERATING REVENUES 1, 327, 178. 00 $ 1, 348, 603. 00 $ 1, 371, 042. 00 $ 1, 408, 493. 00 OPERATING EXPENDITURES 1, 359, 968. 00) $ ( 1, 333, 484. 00) $ ( 1, 357, 442. 00) $ ( 1388, 575. 00) NET REVENUE over EXPENDITURES 32, 790. 00) $ 15, 119. 00 $ 13, 600. 00 $ 19, 918. 00 Transfer Out- Capital Projects Fund YEAR END CARRYOVER 140, 254. 81 $ 155, 373. 81 $ 168, 973. 81 $ 188, 891. 81 Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED RESERVE( 10% of Revenues) 132, 717. 80 $ 134, 860. 30 $ 137, 104. 20 $ 140, 849. 30 Funds Available 7, 537. 01 $ 20, 513. 51 $ 31, 869. 61 $ 48, 042. 51 TOTAL- OTHER APPROPRIATIONS/ RESERVES 140, 254. 81 $ 155, 373. 81 $ 168, 973. 81 $ 188, 891. 81 52 Group Sates Fund Revenues and Expenditures 2008 3, 000 2, 500 - 2, 000 a 0 Operating c 1 Revenues 441 y 1, 400 ' 1, 410 Operating 1, 500 1, 339 Expenditures c 1, 000 r 500 a RM r IM 2007 R eblb Y 4i hi+ 5 au i 2007 Budget 2007 Revised 2008 Budget 53 Group Sales Fund Budget Comparisons - 2007 Budget to 2007 Revised Revenues 2007 Budget 1, 258, 811 Lodging Taxes 84, 024 Up 7% Colorado Tourism Grant 15, 000 Rec' d grant from State- marketing/ prints Transfer in- Marketing 50, 000, Support of Group Sales Other Accounts 7, 475) 2007 Revised Budget 1, 400, 360 Expenditures 2007 Budget 1, 242, 761 Contract Service 82, 000 3rd party representative to meeting planners Other Accounts 14, 504 2007 Revised Budget 1, 339, 265 54 Group Steles Fund Budget Comparisons - 2007 Budget to 2008 Proposed Revenues 2007 Budget 192589811 Lodging Tax 119, 678 Budgeted 3% over 2007 revised Transfer In- Marketing 80, 000 Support of Group Sales/ New ambassador Bedford Lease 25, 000) Food and Beverage revenue shortfall Interest Income 7, 276 Additional funds/ higher interest rate Other Accounts 2008 Proposed Budget 194409765 Expenditures 2007 Budget 1, 242, 761 Contract Service 67, 000 3rd party representative to meeting planners Office Equipment 22, 000 New Town Hall Trade Shows 50, 000 Registration Fees/ Setting up booths/ mailing them out/ floor cost Client Entertain Local 10, 000 Meeting Planners Other Accounts 17, 842 2008 Proposed Budget 1, 409, 603 55 punk6uisnOH.A ssowmau O UMOl Town of Snowmass Village Housing Fund Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED BEGINNING CARRYOVER 1, 075, 833. 62 $ 1, 028, 329. 62 $ 1, 038, 601. 00 $ 10, 271. 38 $ 986, 205. 00 OPERATING REVENUES 1, 210, 361. 69 $ 1, 231, 783. 00 $ 1, 244, 253. 00 $ 12, 470. 00 $ 1, 266, 332. 00 OPERATING EXPENDITURES 599, 028. 31) $ ( 604, 654. 00) $ ( 542, 335. 00) $ 62, 319. 00 $ ( 611, 732. 00) DEBT SERVICE 548, 825. 06) $ ( 553, 200. 00) $ ( 553, 200. 00) $ 549, 200. 00) NET REVENUE over EXPENDITURES 62, 508. 38 $ 73, 929. 00 $ 148, 718. 00 $ 74, 789. 00 $ 105, 400. 00 Capital Reserves Used 28, 890. 00) $ 42, 390. 00) Interior Renovations 70, 851. 00) 304, 151. 00) $ ( 501, 114. 00) $ ( 196, 963. 00) $ ( 304, 128. 00) Transfer in- Mountain View I 300, 000. 00 $ 300, 000. 00 $ 150, 000. 00 YEAR END CARRYOVER 1, 038, 601. 00 $ 1, 098, 107. 62 $ 986, 205. 00 $ ( 111, 902. 62) $ 895, 08700 Appropriations/ Reserves of the Year End Carryover 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED Bond Reserve Fund 300, 000. 00 $ 300, 000. 00 $ 300, 000. 00 $ 300, 000. 00 Capital Reserve Fund 243, 386. 00 $ 278, 197. 00 $ 278, 197. 00 $ 212, 530. 00 Unappropriated Funds 495, 215. 00 $ 519, 910. 62 $ 408, 008. 00 $ ( 111, 902. 62) $ 382, 557. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 1. 038, 60100 $ 1, 098, 107. 62 $ 986, 205. 00 $ ( 111, 902. 62) $ 895, 087. 00 7 Town of Snowmass Village Housing Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 895, 087. 00 $ 829, 315. 00 $ 909, 804. 00 $ 1, 039, 630. 00 OPERATING REVENUES 1, 294, 183. 00 $ 1, 324, 540. 00 $ 1, 355, 150. 00 $ 1, 386, 361. 00 OPERATING EXPENDITURES 622, 987. 00) $ ( 640, 554. 00) $ ( 674, 324. 00) $ ( 652, 538. 00) DEBT SERVICE 548, 600. 00) $ ( 551, 000. 00) $ ( 551, 000. 00) $ ( 553, 600. 00) NET REVENUE over EXPENDITURES 122, 596. 00 $ 132, 986. 00 $ 129, 826. 00 $ 180, 223. 00 Capital Reserves Used 6, 240. 00) $ 52, 497. 00) $ 42, 450. 00) Interior Renovations 182, 128. 00) $ Transfer in- Mountain View I YEAR END CARRYOVER 829, 315. 00 $ 909, 804. 00 $ 1, 039, 630. 00 $ 1, 177, 403. 00 Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Bond Reserve Fund 300, 000. 00 $ 300, 000. 00 $ 300, 000. 00 $ 300, 000. 00 Capital Reserve Fund 242, 172. 00 $ 221, 101. 00 $ 258, 154. 00 $ 249, 082. 00 Unappropriated Funds 287, 143. 00 $ 388, 703. 00 $ 481, 476. 00 $ 628, 321. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 829, 315. 00 $ 909, 804. 00 $ 1, 039. 630. 00 $ 1, 177, 403. 00 58 Housing Fund Revenues and Expenditures 2008 1, 400 1, 232) 1, 244 j 1, 266 I 1 $ 1, 158 ! 1, 200 " 1, 1611 1, 096 a 1, 000 All m i 3„ e t Iry h w" 130perating H 800 Revenues Operating f Expenditures& 600 Debt Service 400 200 e"x. y M krs y' xM„` u rt" 2 qd,' 2007 Budget 2007 Revised 2008 Budget 59 Housing Fund Budget Comparisons - 2007 Budget to 2007 Revised Revenues 2007 Budget 192319783 Interest Income 3, 420 Higher interest rates/ Higher fund balance Rent 5, 900 No vacancy Other Accounts 3, 150 2007 Revised Budget 112449253 Expenditures 2007 Budget 6049654 Payroll/ benefits 52, 182) Shift to other Housing Funds Utilities- V. N. Gas/ Bru Crk 5, 000) Lower than anticipated Other Accounts 5, 137) 2007 Revised Budget 542, 335 60 Housing Fund Budget Comparisons - 2007 Budget to 2008 Proposed Revenues 2007 Budget 192319783 Interest Income 6, 193 Higher interest rates/ Higher fund balance Rents 28, 356 Rental increases 2. 04% to 2. 97% Other Accounts 2008 Proposed Budget 152669332 Expenditures 2007 Budget 6049654 Payroll/ benefits 20, 904) Shift to other Housing Funds Painting 22, 000 Exterior- Palisades Cash Purchases 4, 495 Lawn tractor/ Vehicle replacement Other Accounts 1 , 487 2008 Proposed Budget 6115732 61 punk M2- . 1, A uio unoyy a6nll ! A SStDUAMOUS 10 uMOl Town of Snowmass Village Mountain View Fund Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED BEGINNING CARRYOVER 1, 770, 328. 00 $ 1, 858, 494. 38 $ 1, 918, 387. 00 $ 59, 892. 62 1, 866, 538. 00 OPERATING REVENUES 1, 044, 968. 52 $ 1, 043, 675. 00 $ 1, 062, 699. 00 $ 19, 024. 00 1, 072 202. 00 OPERATING EXPENDITURES 226, 866. 52) $ ( 276, 676. 00) $ ( 264, 988. 00) $ 11, 688. 00 $ ( 317, 260. 00) DEBT SERVICE 544, 185. 00) $ ( 549, 560. 00) $ ( 549, 560. 00) $ 549, 810. 00) NET REVENUE over EXPENDITURES 273, 917. 00 $ 217, 439. 00 $ 248, 151. 00 $ 30, 712. 00 $ 205, 132. 00 Capital Reserves Used 123, 380. 00) $ ( 149, 101. 00) $ 149, 101. 00 $ 74, 404. 00) Transfer out- Mountain View II 2, 478. 00) $ 5, 436. 00) $ 5, 436. 00 $ Transfer out- Housing Renovations 300, 000. 00) $ ( 300, 000. 00) $ 150, 000. 00) YEAR END CARRYOVER 1, 918, 387. 00 $ 1, 621, 396. 38 $ 1, 866, 538. 00 $ 245, 141. 62 1, 847, 266. 00 Appropriations/ Reserves of the Year End Carryover 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED Bond Reserve Fund 528, 000. 00 $ 528, 000. 00 $ 528, 000. 00 $ 528, 000. 00 Capital Reserve Fund 262, 940. 00 $ 108, 095. 00 $ 323, 717. 00 $ 215, 622. 00 303, 269. 00 Unappropriated Funds 1, 127, 447. 00 $ 985, 301. 38 $ 1, 014, 821. 00 $ 29, 519. 62 1, 015, 997. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 1, 918, 387. 00 $ 1, 621, 396. 38 $ 1, 866, 538. 00 $ 245, 141. 62 $ 1, 847, 266. 00 63 Town of Snowmass Village Mountain View Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 1, 847, 266. 00 $ 2, 034, 449. 00 $ 2, 059, 469. 00 $ 2, 181, 542. 00 OPERATING REVENUES 1, 098, 483. 00 $ 1, 128, 513. 00 $ 1, 157, 926. 00 $ 1, 187, 638. 00 OPERATING EXPENDITURES 316, 409. 00) $ ( 338, 389. 00) $ ( 360, 105. 00) $ ( 338, 634. 00) DEBT SERVICE 553, 810. 00) $ ( 551, 360. 00) $ ( 552, 548. 00) $ ( 552, 148. 00) NET REVENUE over EXPENDITURES 228, 264. 00 $ 238, 764. 00 $ 245, 273. 00 $ 296, 856. 00 Capital Reserves Used 41, 081. 00) $ ( 213, 744. 00) $ ( 123, 200. 00) $ Transfer out- Mountain View II Transfer out- Housing Renovations YEAR END CARRYOVER 2, 034, 449. 00 $ 2, 059, 469. 00 $ 2, 181, 542. 00 $ 2, 478, 398. 00 Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Bond Reserve Fund 528, 000. 00 $ 528, 000. 00 $ 528, 000. 00 $ 528, 000. 00 Capital Reserve Fund 321, 788. 00 $ 152, 876. 00 $ 61, 488. 00 $ 127, 180. 00 Unappropriated Funds 1, 184, 661. 00 $ 1, 378, 593. 00 $ 1, 592, 054. 00 $ 1, 823, 218. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 2, 034, 449. 00 $ 2, 059, 469. 00 $ 2, 181, 542. 00 $ 2, 478, 398. 00 64 Mountain View Fund Revenues and Expenditures 2008 1, 400 1, 200 1, 045 1 063 1, 072_. . 1, 000 Operating Revenues rtRcti ke y 867 , s. 815 i Operating v Expenditures& Debt 800 1 z A Service 13 Transfers Out 0r 600 400 300 300 200 150' lee 2007 Budget 2007 Revised 2008 Budget 65 Mountain View Fund Budget Comparisons - 2007 Budget to 2007 Revised Revenues 2007 Budget 1 , 043, 675 Interest Income 15, 724 Higher interest rates/ Higher fund balance Rents- Mountain View 2, 500 No vacancy Other Accounts 800 12007 Revised Budget 1 , 062, 699 Expenditures 1 2007 Budget 276, 676 Payroll 7, 102) Shift between housing funds Payroll- benefits 3, 175) Shift between housing funds Other Accounts 1 , 411) 12007 Revised Budget 264, 988 66 Mountain View Fund Budget Comparisons - 2007 Budget to 2108 Proposed Revenues 2007 Budget 190439675 Interest Income 20, 867 Higher interest rates Rents 7, 560 Rental increases Other Accounts 100 2008 Proposed Budget 190729202 Expenditures 2007 Budget 2769676 Payroll 28, 603 Shift between housing funds Trash Fees 4, 866 Inc in fees Cash Purchases 6, 121 Laundry Equip/ Water Heater Other Accounts 994 2008 Proposed Budget 3179260 67 punk II maid uiu unolry961DIIIAssowmous } O UM01 Town of Snowmass Village Mountain View II Fund Budget Summary Revenues over Expenditures 2006 2007 2007 2007 2008 Actual Budget Revised Variance PROPOSED BEGINNING CARRYOVER 107, 675. 00 $ 108, 651. 00 $ 112, 065. 00 $ 3, 414. 00 122, 881. 00 OPERATING REVENUES 230, 553. 40 $ 235, 607. 00 $ 235, 931. 00 $ 324. 00 $ 240, 435. 00 OPERATING EXPENDITURES 59, 738. 40) $ ( 67, 335. 00) $ ( 60, 460. 00) $ 6, 875. 00 $ ( 70, 578. 00) DEBT SERVICE 158, 750. 00) $ ( 164, 655. 00) $ ( 164, 655. 00) $ 160, 055. 00) NET REVENUE over EXPENDITURES 12, 065. 00 $ 3, 617. 00 $ 10, 816. 00 $ 7, 199. 00 $ 9, 802. 00 Transfer In- Mountain View I 5, 436. 00 $ 5, 436. 00) $ Capitol Reserves Used 7, 675. 00) $ ( 18, 000. 00) $ 18, 000. 00 $ 21, 000. 00) YEAR END CARRYOVER 112, 065. 00 $ 99, 704. 00 $ 122, 881. 00 $ 23, 177. 00 $ 111, 683. 00 Appropriations/ Reserves of the Year End Carryover 2006 2007 2007 2007 2008 Actual Budcet Revised Variance PROPOSED Capital Reserve Fund 57, 615. 00 $ 46, 365. 00 $ 67, 365. 00 $ 21, 000. 00 $ 53, 115. 00 Unappropriated Funds 54, 450. 00 $ 53, 339. 00 $ 55, 516. 00 $ 2, 177. 00 $ 58, 568. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 112, 065. 00 $ 99, 704. 00 $ 122, 881. 00 $ 23, 177. 00 $ 111, 683. 00 69 Town of Snowmass Village Mountain View II Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 111, 683. 00 $ 136, 099. 00 $ 169, 643. 00 $ 176, 964. 00 OPERATING REVENUES 246, 810. 00 $ 253, 164. 00 $ 259, 147. 00 $ 270, 610. 00 OPERATING EXPENDITURES 66, 989. 00) $ 68, 915. 00) $ 73, 006. 00) $ 73, 806. 00) DEBT SERVICE 155, 405. 00) $ ( 150, 705. 00) $ ( 155, 905. 00) $ ( 155, 570. 00) NET REVENUE over EXPENDITURES 24, 416. 00 $ 33, 544. 00 $ 30, 236. 00 $ 41, 234. 00 Transfer In- Mountain View I Capital Reserves Used 22, 915. 00) $ 4, 500. 00) YEAR END CARRYOVER 136, 099. 00 $ 169, 643. 00 $ 176, 964. 00 $ 213, 698. 00 Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Capital Reserve Fund 65, 625. 00 $ 78, 135. 00 $ 65, 605. 00 $ 72, 677. 00 Unappropriated Funds 70, 474. 00 $ 91, 508. 00 $ 111, 359. 00 $ 141, 021. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 136, 099. 00 $ 169, 643. 00 $ 176, 964. 00 $ 213, 698. 00 70 r .. . z Mountain View II Fund Revenues and Expenditures 2008 1, 000 800 600 Operating y Revenues ac Operating C Expenditures& t Debt Service t— 400 236 236 240 232 i $ 225 231 200 IPs. s fib, 2007 Budget 2007 Revised 2008 Budget 71 Mountain View II Fund Budget Comparisons - 2007 Budget to 2007 Revised Revenues 2007 Budget 2355607 Other Accounts 324 2007 Revised Budget 235, 931 Expenditures 2007 Budget 679335 Cash Purchases 5, 000) Moved painting to 2008 Other Accounts 1 , 875) 2007 Revised Budget 609460 72 u Mountain View U Fund Budget Comparisons - 2007 Budget to 2008 Proposed Revenues 2007 Budget 235, 607 Rents 4, 956 Rental increases Other Accounts 128) 2008 Proposed Budget 2409435 Expenditures 2007 Budget 679335 Utilities- Natural Gas 2, 130 Increase in utililty costs Other Accounts 1 , 113 2008 Proposed Budget 709578 73 Town of Snowmass Village Capital Improvement Projects Fund Town of Snowmass Village Capital Improvement Projects Fund Budget Summary Rvmmm mr Expaiftrw 2006 2= 2= zam 2" ArkW dwt Revised variance PROPOSED mw" m cAmyava 1, 655, 394. 61 $ 1, 514, 458. 00 $ 8, 805, 319. 96 $ 7, 290, 861. 96 $ OPERATING REVENUES 20, 673, 159. 05 $ 16, 255, 061. 00 $ 12, 277, 073. 00 $ ( 3, 977, 988. 00) $ 3, 689, 789. 00 OPERATING EVENDITURE5 13, 523, 233. 70) $ ( 17, 769, 519. 00) $ ( 21, 053, 648. 00) $ ( 3, 284, 129D0) $ ( 3, 689, 789. 00) Transfer out- RETT 28, 744. 96) $ ( 28, 744. 96) NET REVENUE over DQUNDIRh2E5 7, 149, 925. 35 $ ( 1, 514, 458. 00) $ ( 8, 776, 575. 00) $ ( 7, 262, 117. 00) $ YEAR e- 40 CARRYOVER 8, 805, 319.% $ AppvMafi=/ Reservps of the Year End Onwmr 2006 2007 2007 2007 2008 Actual BudW Revised Variance Funds Available 8, 805, 319. 96 $ TOTAL- OTHER APPROPRIATIONS/ RESERVES 8, 805, 319. 96 $ 75 Town of Snowrmass Village Capital Improvement Projects Fund Budget Summary Revenues over Expenditures 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER OPERATING REVENUES 3, 143, 295. 00 $ 17, 319, 391. 00 $ 11, 051, 144. 00 $ 2, 397, 478. 00 OPERATING EXPENDITURES 3, 143, 295. 00) $ ( 17, 319, 391. 00) $ ( 11, 051, 144. 00) $ ( 2, 397, 478. 00) Transfer out- RETT NET REVENUE over EXPENDITURES YEAR END CARRYOVER Appropriations/ Reserves of the Year End Carryover 2009 2010 2011 2012 PROPOSED PROPOSED PROPOSED PROPOSED Funds Available TOTAL- OTHER APPROPRIATIONS/ RESERVES 76 2004 TO 2011 CAPITAL IMPROVEMENT PROGRAM- Planned Expenditures 8/ 28/ 07 Legend 1 Budget Number Only- Program TBD 2 Budget based on Conceptual Plan 4 Budget revised to reflect actual bids Carryover from previous year 2, 400, 188 1, 626, 650 8, 776, 575 0) 0) PROJECT 2004 Actual 2005 Actual 2006 Actual 2007 2008 2009 ENTRYWAY CIVIL 169, 638. 74 3, 039, 763. 54 1, 136, 172 a 100, 000 2 ROUNDABOUT ENTRY ROADIMPROVEMENTS INTERCEPT PARK AND RIDE 393, 310. 00 464, 706. 13 311, 829 4 TRANSIT CENTER 1, 022, 630. 70 1, 487, 336. 83 ENTRY TRANSIT& WELCOME CENTER 554, 264 4 750, 000 1 REC POOL/ FITNESS/ GYM ADDITION 29, 512. 50 1, 839, 543. 19 POOL 2, 658, 032. 58 FITNESS CENTER 2, 397, 543. 59 RECREATION CENTER EXPANSION 3, 495, 185 4 5, 055, 576. 17 ENTRYWAY PARK IMPROVEMENTS 107, 611. 61 455, 331. 81 649, 355. 26 1, 896, 356 4 1, 849, 948 ; s PARKS/ TRAILS 66, 119. 00 715, 474. 26 EVENTS ARENA 50, 000 i 50, 000 i ENTRYWAY EMP HSG 45, 304. 83 856, 922. 82 1, 638, 000 , s, 459, 772 s SEVEN STAR ACQUISITION 10, 000. 00 77 2004 TO 2011 CAPITAL IMPROVEMENT PROGRAM- Planned Expenditures 8/ 28/ 07 Legend 1 Budget Number Only- Program TBD 2 Budget based on Conceptual Plan 4 Budget revised to reflect actual bids Carryover from previous year o) 0) so) PROJECT 2010 2011 2012 TOTAL Sources for 2008 Proposed ENTRYWAY CIVIL 4, 445, 574 RETT 3, 745, 574; SLC 350, 000; SKI CO 350A00; ROUNDABOUT ENTRY ROAD IMPROVEMENTS 4, 445, 574 INTERCEPT PARK AND RIDE 1, 169, 845 RETT1, 169, 845 TRANSIT CENTER 1, 022, 631 RETT 1, 022, 631 ENTRY TRANSIT R WELCOME CENTER 1, 304, 264 RETT 554, 264; Gen Fund 750, 000 REC POOUFITNESS/ GYM ADDITION 1, 869, 056 Rec Bond 1, 500, 00; Base Vlg 1, 00, 345; Pool bond 2, 536, 818: RETT 1, 887, 469 POOL 2, 658, 033 FITNESS CENTER 2, 397, 544 RECREATION CENTER EXPANSION 3, 495, 185 Rec Bond 1, 514, 458; RE7T$ 1, 980, 727 10, 419, 817 ENTRYWAY PARK IMPROVEMENTS 4, 958, 603 RE7T4, 797, 110; Lodery 120. 000; Gen Fund 107, 612 PARKS/ TRAILS 66, 119 5, 024, 722 EVENTS ARENA 100, 000 RETT 100, 000 ENTRYWAY EMP HSG 3, 000, 000 Excise Taxes 3, 000, 000 SEVEN STAR ACQUISITION 10, 000 SLC 5,"; SKI CO 5, 000 p78 2004 TO 2011 CAPITAL IMPROVEMENT PROGRAM- Planned Expenditures 8/ 28/ 07 Legend 1 Budget Number Only- Program TBD 2 Budget based on Conceptual Plan Mnii I 49kta, gflbcfdeiledplans 4' Budget revised to reflect actual bids Carryover from previous year 2, 400, 188 1, 626, 650 6, 776, 575 o) 0) PROJECT 2004 Actual 2005 Actual 2006 Actual 2007 2008 2009 OTHER PROJECTS BRUSH CREEK ROAD/ OWL CREEK RD TRAILADDITIONS 47, 092. 43 39, 480. 92 82, 046. 10 50, 000 1 50, 000 r 50, 000 r BUS STOP IMPROVEMENTS 102, 132. 85 117, 007. 44 46, 595. 60 HIGHLINE ROAD TRAIL BRUSH CREEK ROAD LANDSCAPING 19, 134. 18 81, 590. 19 UPPER LOT LANDSCAPING 55, 595. 00 MOUNTAIN VIEW TRAIL DESIGN 5, 000 1 WOOD RD. ROUND/ BRIDGE 2, 000, 000 4 BRUSH CREEK STREAM RESTORATION 1, 200, 000 4 TOWN HALL- Design and FF& E 651, 573. 38 595, 127 a Construction 570, 980. 76 7, 524, 183 ILaJ PARKS/ TRAILS BUILDING DESIGN 50, 000 r MALL TRANSIT - Planning& Design 79, 028. 72 250, 195 r 132, 000 1 88, 776 i Transit Station 209, 945 r 629, 835 1 Parking Replacement 421, 395 r 632, 092 1 Road Realignment 115, 583 r 173, 374 1 Bus Barn 346, 146 r 519, 218 r EMPLOYEE HOUSING- Draw Site 200, 000 1 Transfer out- Debt Service- Town Hall ( CAP 1) 340, 072. 39 352, 337 Transfer out- Debt Service- Rec Ctr( CAP 1) 127, 577. 78 Transfer out- Debt Service- Pool 29, 075. 00 Pool- Bond Issuance 57, 162. 09 Rec Ctr- Bond Issuance 106, 771. 90 Town Hall Bond Issuance 281, 761. 08 Bank Fees- Town Hall 162. 18 TOTAL COSTS 372, 586. 48 3, 144, 346. 11 13, 523, 233. 70 21, 053, 648 3, 689, 789 3, 143, 295 79 2004 TO 2011 CAPITAL IMPROVEMENT PROGRAM- Planned Expenditures 8/ 28/ 07 Legend 1 Budget Number Only- Program TBD 2 Budget based on Conceptual Plan 4 Budget revised to reflect actual bids Carryover from previous year so) 0) 0) PROJECT 2010 2011 2012 TOTAL Sources for 2008 Proposed OTHER PROJECTS BRUSH CREEK ROAD/ OWL. CREEK RD 2, 000, 000 1 2, 000, 000 RM2. 000, 000 TRAILADDITIONS 50, 000 1 50, 000 1 50, 000 1 468, 619 RE , 168, 619 BUS STOP IMPROVEMENTS 125, 000 1 390, 736 RETT 390, 736 HIGHLINE ROAD TRAIL 300, 000 1 300, 000 RE7F, BRUSH CREEK ROAD LANDSCAPING 100, 724 RETT 100, 724 UPPER LOT LANDSCAPING 55, 595 nf1r ss, sa5 MOUNTAIN VIEW TRAIL DESIGN 5, 000 RE7F 5, 000 WOOD RD. ROUND/ BRIDGE 2, 000, 000 2,() 00, 000 R= GIO no other portion of work BRUSH CREEK STREAM RESTORATION 1, 200, 000 Base Vig 800, 000; RE- FF 400000 TOWN HALL- Design and FF& E 1, 246, 700 1, 246, 700 Gen Fund Construction 8, 095, 164 7. 928, 700 GOP; Gen Fund 166, 464 PARKS/ TRAILS BUILDING DESIGN 50, 000 RE7r 50, 000 MALL TRANSIT - Planning& Design 550, 000 EOTC 130. 000; Contr210A81: RETr209, 519 Transit Station 3, 834, 578 1 2, 556, 385 1 7, 230, 743 F'FA 5311 735. OW; EOTC 3, 522, 000, Contr 974, 280; F'FA 5309 1, 20C),"; Rm 79% 462 Parking Replacement 4, 810, 403 1 3, 206, 935 1 9, 070, 825 F'rA 5311 550, 000; EOTC 2,40 . 00cCordr 1, 372, 547; FFA 5309 3, 395, 000RM 1, 30.5, 278 Road Realignment 1, 319, 425 1 879, 617 1 2, 487, 999 EOTG W=: Gontr 1, 028, 5 ; RETr 1, 019, 498 Bus Barn 2, 304, 985 1 2, 233, 207 1 2, 047, 478 1 7, 451, 034 F' FA5311 1, oxf. Wo; cortr2, 832, DD0; F` rA5 2, 405, M; RlFFF1, 214, 0M EMPLOYEE HOUSING- Draw Site 5, 000, 000 1 5, 200, 000 Bond Issue/ Excise Tax Fund Transfer out- Debt Service- Town Hall ( CAP 1) 692, 409 Transfer out- Debt Service- Rec Ctr( CAP 1) 127, 578 Transfer out- Debt Service- Pool 29, 075 Pool- Bond Issuance 57, 162 Rec Ctr- Bond Issuance 106, 772 Town Hall Bond Issuance 281, 761 Bank Fees- Town Hall 1621 1 TOTAL COSTS 17, 319, 391 11, 051, 144 2, 397, 478 75, 694, 911 80 FUNDING SOURCES 2004 Actual 2005 2006 Actual 2007 2008 2009 RETT 149, 225. 28 1, 249, 498. 09 6, 469, 854. 00 8, 418, 377 1, 884, 948 150, 000 RETT- TRANSIT PLAZA 39, 029. 00 60, 102 416, 097 717, 099 GENERAL FUND 107, 611. 61 595, 000. 00 818, 164 750, 000 COP- TOWN HALL 8, 515, 000. 00 EXCISE TAX FUND 45, 304. 83 856, 922. 82 1, 638, 000 459, 772 BOND ISSUE- POOL& REC CENTER EXPANSION 2, 320, 001. 00 3, 145, 000. 00 BOND ISSUE/ EXCISE TAX FUND 200, 000 BASE VILLAGE 1, 000, 000. 00 800, 000 SKI COMPANY 355, 000. 00 SNOWMASS LAND COMPANY 355, 000. 00 FTA 5311 GRANT 190, 000 95, 000 EOTC 130, 000 179, 000 516, 000 CONTRIBUTIONS 40, 000. 00 60, 093 439, 972 715, 196 FTA 5309 GRANT LOTTERY 120, 000 CORE GRANT 40, 000. 00 Interest- Rec Center 51, 623. 31 Interest- Fitness Center 344. 57 28, 672. 16 Interest- COP- Town Hall 35, 695. 69 352, 337 Interest Bond Fund- Pool 195, 936. 61 75, 660. 21 42, 553. 94 Recreation Center( bond premium) 103, 808. 12 TOTAL SOURCES 2, 772, 774. 50 2, 370, 807. 70 20, 673, 159. 04 12, 277, 073 3, 689, 789 3, 143, 295 Ending Balance 2, 400, 188. 02 $ 1, 626, 649. 61 8, 776, 574. 95 SO) o) o) Ending Balance Breakdown: Pool Funds 2, 400, 188. 02 $ 1, 540, 004. 04 Fitness Center o. 00 96, 645. 57 Entryway- Civil 39, 029. 00) Recreation Center 1, 514, 458. 00 Town Hall 7, 301, 145. 90 0. 00 0. 00 Seven Star- A/ R 00 10. 000. 00) 0. 00 0. 00 0. 00 Total 2, 400, 188. 02 $ 1, 626, 649. 61 8, 776, 574. 90 0. 00 0. 00 0. 00 81 FUNDING SOURCES 2010 2011 2012 TOTAL RETT 50, 000 2, 175, 000 350, 000 20, 896, 902 RETT- TRANSIT PLAZA 2, 245, 844 1, 062, 144 47, 478 4, 587, 793 GENERAL FUND 2, 270, 776 COP- TOWN HALL 8, 515, 000 EXCISE TAX FUND 3, 000, 000 BOND ISSUE- POOL& REC CENTER EXPANSION 5, 465, 001 BOND ISSUE/ EXCISE TAX FUND 5, 000, 000 5, 200, 000 BASE VILLAGE 1, 800, 000 SKI COMPANY 355, 000 SNOWMASS LAND COMPANY 355, 000 FTA 5311 GRANT 2, 000, 000 2, 285, 000 EOTC 2, 750, 000 2, 925, 000 6, 500, 000 CONTRIBUTIONS 2, 273, 547 2, 889, 000 6, 417, 808 FTA 5309 GRANT 3, 000, 000 2, 000, 000 2, 000, 000 7, 000, 000 LOTTERY 120, 000 CORE GRANT 40, 000 Interest- Rec Center 51, 623 Interest- Fitness Center 29, 017 Interest- COP- Town Hall 388, 033 Interest Bond Fund- Pool 314, 151 Recreation Center( bond premium) 103, 808 TOTAL SOURCES 17, 319, 391 11, 051, 144 2, 397, 478 75, 694, 911 Ending Balance SO) So) SO) Ending Balance Breakdown: Pool Funds Fitness Center Entryway- Civil Recreation Center Town Hall 0. 00 Seven Star- A/ R 0. 00 0. 00 Total 0. 00 0. 00 82 CAPITAL IMPROVEMENT PROGRAM- Planned Expenditures 2408 Proposed Program to 2007 Adopted Program ICIP PROJECT TOTALS 2008 2007 Proposed Adopted PROJECT PROJECT PROJECT TOTAL Total Variance ENTRYWAY CIVIL 4, 445, 574 4, 260, 450 $ 185, 124) ROUNDABOUT ENTRY ROAD IMPROVEMENTS 4, 445, 574 4, 260, 450 $ 185, 124) INTERCEPT PARK AND RIDE 1, 169, 845 1, 938, 318 $ 768, 473 TRANSIT CENTER 1, 022, 631 0 $ 1, 022, 631) 2, 192, 476 1, 938, 318 254, 158) ENTRY TRANSIT & WELCOME CENTER 1, 304, 264 1, 304, 264) REC POOL/ FITNESS/ GYM ADDITION 1, 869, 056 6, 828, 454 $ 4, 959, 398 POOL 2, 658, 033 0 $ 2, 658, 033) FITNESS CENTER 2, 397, 544 0 $ 2, 397, 544) RECREATION CENTER EXPANSION 3, 495, 185 1, 514, 458 $ 1, 980, 727) 10, 419, 817 8, 342, 912 $ 2, 076, 905) ENTRYWAY PARK IMPROVEMENTS 4, 958, 603 2, 977, 193 $ 1, 981, 410) PARKS/ TRAILS 66, 119 0 $ 66, 119) 5, 024, 722 2, 977, 193 $ 2, 047, 529) EVENTS ARENA 100, 000 50, 000 $ 50, 000) ENTRYWAY EMP HSG 3, 000, 000 3, 000, 000 $ 0 SEVEN STAR ACQUISITION 10, 000 1, 000, 000 $ 990, 000 83 CAPITAL IMPROVEMENT PROGRAM- Planned Expenditures 2008 Proposed Program to 2007 Adopted Program ICIP PROJECT TOTALS 2008 2007 Proposed Adopted PROJECT PROJECT PROJECT TOTAL Total Variance OTHER PROJECTS BRUSH CREEK ROAD/ OWL CREEK RD 2, 000, 000 2, 000, 000 $ TRAIL ADDITIONS 468, 619 417, 473 $ 51, 146) BUS STOP IMPROVEMENTS 390, 736 519, 140 $ 128, 404 HIGHLINE ROAD TRAIL 300, 000 300, 000 $ BRUSH CREEK ROAD LANDSCAPING 100, 724 119, 134 $ 18, 410 UPPER LOT LANDSCAPING 55, 595 55, 595 $ MOUNTAIN VIEW TRAIL DESIGN 5, 000 0 $ 5, 000) WOOD RD. ROUND/ BRIDGE 2, 000, 000 2, 000, 000 $ BRUSH CREEK STREAM RESTORATION 1, 200, 000 800, 000 $ 400, 000) TOWN HALL- Design and FF& E 1, 246, 700 1, 095, 000 $ 151, 700) Construction 8, 095, 164 7, 890, 000 $ 205, 164) PARKS1TRAILS BUILDING DESIGN 50, 000 880, 000 $ 830, 000 MALL TRANSIT - Planning& Design 550, 000 250, 000 $ 300, 000) Transit Station 7, 230, 743 7, 154, 800 $ 75, 943) Parking Replacement 9, 070, 825 8, 975, 556 $ 95, 269) Road Realignment 2, 487, 999 2, 461, 866 $ 26, 133) Bus Barn 7, 451, 034 7, 372, 777 $ 78, 257) EMPLOYEE HOUSING- Draw Site 5, 200, 000 5, 200, 000 $ Transfer out- Debt Service- Town Hall ( CAP 1) 692, 409 0. 00 $ 692, 409) Transfer out- Debt Service- Rec Ctr( CAP 1) 127, 578 0 $ 127, 578) Transfer out- Debt Service- Pool 29, 075 156, 653 $ 127, 578 Pool- Bond Issuance 57, 162 57, 162 $ 0) Rec Ctr- Bond Issuance 106, 772 106, 772 $ 0 Town Hall Bond Issuance 281, 761 0 $ 281, 761) Bank Fees- Town Hall 162 0 $ 162) TOTAL COSTS 75, 694, 911 69, 380, 801 $ 6, 314, 110) 84 PU3 a41 Legend 1 Budget Number Only- Program TBD 2 Budget based on Conceptual Plan tr0! 11 pJj4^ pj ,.. s3z1E=,' a - u get revl9e to ref c10c1ual Dida Carryover from previous year 6 2, 400, 188 $ 1, 626, 650 0, iM, 575 so) so) 110) 50) so) PROJECT 2004 Actual 2005 Actual 2006 Actual 2057 2008 2009 2010 2011 2012 TOTAL Sources for 2008 Proposed ENTRYWAY CNIL 169, 638. 74 3, 039, 763. 54 1, 136, 172, 4 100, 000 z 4, 445, 574 RETT3745, 374: SLC3W0W; SaIC03W,=: ROUNDABOUT ENTRY ROADIMPROVEMENTS 4, 445, 5]4 INTERCEPT PARK AND RIDE 393, 310. 00 464, 706. 13 311, 829 4 1, 169, 845 PETTI 169, 945 TRANSIT CENTER 1, 022, 630.] 0 1, 02$ 631 ne, T1., das, 1, 437, 336. 83 ENTRY TRANSIT B WELCOME CENTER 554, 264 4 750, 000 + 1, 304, 264 RCTTM424ran Pen47W. 000 REC POOIJFITNESSGYM ADDITION 29, 512. 50 1, 839, 54349 1, 869, 056 new Done 1. 500. 4001 caw Ne1. 0W. 345: PWII Wee 2.536. 6m1 RETT 1. 687, 469 POOL 2, 658, 032. 53 2, 6581033 FITNESS CENTER 2, 397, 543. 59 2, 397, 514 RECREATION CENTER EXPANSION 3, 491 4 3, 495, 185 Pic Born 1, 514458: REQ$ 1 NaM 5, 055, 5]6, 1] 10, 419, 815 ENTRYWAY PARK IMPROVEMENTS 107, 611. 51 455, 331. 81 649, 35526 1, 896, 356, 4, 1, 649, 948 4, 958. 603 RM4. 797, 110; Wray 12p.0e). Ran Fund 107. 612 PARKS? RAILS NJ 19,00 66. 119 715, 474. 26 5, 024, 722 EVENTS ARE 50, 000 + 50, 000 1 100, 000 RM 100. 03 ENTRYWAY EMP HSG 45, 304. 03 856, 922. 82 1, 638, 000 459, 772 3. 000, 000 E> dw T., 3, 000, 000 SEVEN STAR ACQUISITION 10, 000. 00 10, 000 9LC sak; aem s. 900 OTHER PROJECTS BRUSH CREEK ROAD/ OWL CREEK RD 2, 000, 000 1 2, 000, 000 REfT2. 0se. TRAILADDITIONS 47, 09203 39, 480. 92 82, 046. 10 SQ000 1 50, 000 + 50, 000 1 50, 000 1 50, 000 + 50, 000 1 468, 619 RETT4aA619 BUS STOP IMPROVEMENTS 102, 132. 85 11], 00]. 44 46, 595. 0 125, 000 + 390, 736 RETT3w. 7x HIGHLINE ROAD TRAIL 300, 000 1 300, 000 RMX0. 0.'A3 BRUSH CREEK ROAD LANDSCAPING 19, 13448 81, 590. 19 100, 724 RaTTim. UPPER LOT LANDSCAPING 55, 595. 00 55, 595 RM%, S% MOUNTAIN VIEW TRAIL DESIGN 5, 000 1 5, 000 Re,, eeb WOOD RD. ROUND/ BRIDGE 2, 000, 000 4 2, 000, 000 2, 000. 000 RMIGIGIW6Omm Panic, d. on BRUSH CREEK STREAM RESTORATION 1, 200, 000 4 1, 200, 000 saw H2aw, ekeRaTT4e, foe TOWN HALL- Design and FFSE 651, 573. 38 595, 127 1.1 1, 246, 7001? es,70) Ga Fund Construction 570, 980. 76 7, 524, 183 L4 8, 095, 164 7. 929] 00 COP: Gen wm 186, 8 PARKSRRAILS BUILDING DESIGN 50, 000 + 501000 RETT W.. ro MALL TRANSIT- Planning B Design 9, 028.] 2 250, 195 1 132, 000 1 88,7] 6 1 550, 000 EOTC133, 0nACmV2164a1RE7d0ka19 Transit Staten 209, 945 + 629, 835 + 3, 834, 578 1 2, 556, 385 + 7, 230, 743 FTAs3T1 735. GXS0TC3, 52200kc m, W4, 2m; fiA5se91atAvd% RETT799, es2 Pahang Replacement 421, 3951 632, 092 1 4, 810, 403 1 3, 206, 935 + 9, 070, 825 FTA5311550AW, GOrC2 408A XCt er1. 372L47, FTA53o9339i00% RETT1. 34527s Road Realignment 115, 583 + 1]3, 3]4 + 1, 319, 425 1 8]9, 61] + 2, 487, 999 EOTCa. IKQQM11. 0of. sM RETT 1, 019,496 Bus Bam 346, 146 1 519, 218 1 2, 304, 965 + 2, 233, 207 + 2, 047, 478 + 7, 451, 034 FTA 5311 1, 009WO: COm, 2839, OW: FTA sore 2, 405W3RETT 1. 214. 034 EMPLOYEE HOUSING- Draw Site 200, 000 1 5, 000, 000 + 5, 200, 000 mmlssudEm mFU1e Transfer out- Debt Service- Town Hall ( CAP I) 340072. 39 352, 337 692, 409 Transfer out- DeM Servke- Rec Or( CAP 1) 12], 5n.] 8 127, 578 Travel out- DeN Servke- Pool 29, 075DO 29, 075 Pod- Band Issuance 57, 162. 09 57, 162 Ree Ctr- Bond Issuance 100, 11190 106112 Town Hall Bond Issuance 281, 761. 08 281, 761 Bank Fees- Town Hall 162. 18 162 TOTAL COSTS 372, 586. 48 3, 144, 346- 01 13, 523, 233. 70 21, 053, 648 3, 689, 789 3, 143, 295 17, 319, 391 11, 051, 144 2, 397, 478 76, 691 C -• FUNDING SOURCES 2004 Actual 2005 2006 Actual 2007 2008 2009 2010 2011 2012 TOTAL RETT 149, 225. 28 1, 249, 498. 09 6, 469, 854. 00 8, 418, 377 1, 884, 948 150, 000 50, 000 2, 175, 000 350, 000 20, 896, 902 RETT- TRANSIT PLAZA 39, 029. 00 60, 102 416, 097 717, 099 2, 245, 844 1, 062, 144 47, 478 4, 587, 793 GENERAL FUND 107, 611. 61 595, 000. 00 818, 164 750, 000 2, 270, 776 COP- TOWN HALL 8, 515, 000. 00 8, 515, 000 EXCISE TAX FUND 45, 304. 83 856, 922. 82 1, 638, 000 459, 772 3, 000, 000 BOND ISSUE- POOL& REC CENTER EXPANSION 2, 320, 001. 00 3, 145, 000. 00 5, 465, 001 BOND ISSUE/ EXCISE TAX FUND 200, 000 5, 000, 000 5, 200, 000 BASE VILLAGE 1, 000, 000. 00 800, 000 1, 800, 000 SKI COMPANY 355, 000. 00 355, 000 SNOWMASS LAND COMPANY 355, 000. 00 355, 000 FTA 5311 GRANT 190, 000 95, 000 2, 000, 000 2, 285, 000 EOTC 130, 000 179, 000 516, 000 2, 750, 000 2, 925, 000 6, 500, 000 CONTRIBUTIONS 40, 000. 00 60, 093 439, 972 715, 196 2, 273, 547 2, 889, 000 6, 417, 808 FTA 5309 GRANT 3, 000, 000 2, 000, 000 2, 000, 000 7, 000, 000 LOTTERY 120, 000 120, 000 CORE GRANT 40, 000. 00 40, 000 Interest- Rec Center 51, 623. 31 51, 623 Interest- Fitness Center 344. 57 28, 672. 16 29, 017 Interest- COP- Town Hall 35, 695. 69 352, 337 388, 033 Interest Bond Fund- Pool 195, 936. 61 75, 660. 21 42, 553. 94 314, 151 Recreation Center( bond premium) 103, 808. 12 103, 808 TOTAL SOURCES 2, 772, 774. 50 2, 370, 807. 70 20, 673, 159. 04 12, 277, 073 3, 689, 789 3, 143, 295 17, 319, 391 11, 051, 144 2, 397, 478 75, 694, 911 Ending Balance 2, 400, 188. 02 $ 1, 626, 649. 61 8, 776, 574. 95 0) 0) 0) O) 0) 0) Ending Balance Breakdown: Pool Funds 2, 400, 188. 02 $ 1, 540, 004. 04 Fitness Center 0. 00 96, 645. 57 Entryway- Civil 39, 029. 00) Recreation Center 1, 514, 458. 00 Town Hall 7, 301, 145. 90 0. 00 0. 00 0. 00 Seven Star- A/ R SEIM s1o. o00, 00) 4. 44 4. 44 So 00 140. 00 o. 00 Total 2, 400, 188. 02 $ 1, 626, 649. 61 8, 776, 574. 90 0. 00 0. 00 0. 00 0. 00 0. 00