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10-07-09 Town Council PacketC)A: 9 2 SNOWMASS VILLAGE TOWN COUNCIL SPECIAL MEETING OCTOBER 7, 2009 PLEASE NOTE THAT ALL TIMES ARE APPROXIMATE — ITEMS COULD START EARLIER OR LATER THAN THE STATED TIME CALL TO ORDER AT 8:30 A.M. Item No. 1: ROLL CALL Item No. 2: BUDGET OVERVIEW Russ Forrest, Town Manager............ Page 1 Item No. 3: FINANCIAL ADVISORY BOARD RECOMMENDATIONS Rick Griffin, Chairperson....................Page 5 Item No. 4: BUDGET TRANSMITTAL AND BUDGET PRESENTATION Marianne Rakowski, Finance Director, Russ Forrest, Town Manager And Staff . . . . . . . . . . . . . . . . . . . . . . .Page 8 Item No. 5: GOALS FOR 2010 — COUNCIL DISCUSSION Item No. 6: DIRECTION FROM COUNCIL ON BUDGET Item No. 7: ADJOURNMENT NOTE: Total time estimated for meeting: Approximately 7 hours excluding items 1 and 8) 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 2009 Revised/2010 Proposed Budget Recommendation: The Financial Advisory Board recommends adoption of the 2009 Revised and the 2010 Proposed Budget, but with these additional recommendations: 1) The Financial Advisory Board supports the revenue assumptions used in the General Fund budget projecting flat sales tax revenues for 2010. 2) The Board also supports the staff's recommendation for the use of unappropriated funds while maintaining a $5M fund balance in the General Fund. 3) In 2010, if the General Fund revenues exceed the amount that is budgeted in the 2010 General Fund, those excess revenues should first be used to maintain the $90K contribution into the Town Hall-Cougar Canyon reserve. 4) The Financial Advisory Board strongly recommends that any additional revenues remaining after funding the Town Hall reserve, should be added to the fund balance and should not be used to increase expenditures. Expenditures should be maintained at the 2010 budgeted level. 5) The Financial Advisory Board believes it is appropriate and supports the reduction in Town personnel as part of the long-term budget plan to maintain the sustainability of future Town budgets. Without this reduction, expenditures would continue to exceed revenues thereby further reducing the fund balance. b) The Parks,Trails and Landscaping program provides for a valuable amenity for the community and is important from a marketing standpoint in presenting Snowmass Village to our visitors as an attractive and pleasant place to vacation in the summer. Therefore, expenditures should not be decreased to a point that annual garden maintenance is jeopardized. 7) The Real Estate Transfer Tax fund is experiencing a significantly reduced revenue stream. With this in mind, the Board therefore recommends reducing the Pool/Recreation Center/Gym expenditures in 2010 to the reduced budgeted amount in the 2011 proposed budget thus saving approximately $100K in 2010. 8) The Pool/Recreation Center/Gym is still being subsidized in excess of 50% by the RETT Fund. This level of subsidy is a drain on RETT fund revenues and may not be sustainable in the future. The Financial Advisory Board recommends that the Town Council direct staff to look to increase fees to the users of the services thereby reducing the amount of the subsidy. 9) The Board recommends that the Town be prudent in determining the mill levy for the Road Fund and rather than take a "windfall' in this fund especially in these economic times, that staff determine the average percentage increase of assessed valuation over the post ten years and apply this percentage increase to the 2009 property tax revenues to determine the 2010 revenues and the corresponding mill levy. These additional revenues could be used to begin funding many of the "catch up" projects such as tiewall maintenance and replacement and bridge maintenance without causing an undue hardship on property owners. 10)In conclusion, the Financial Advisory Board commends Town Staff on the preparation of the 2010 proposed budgets that are based on realistic and relatively conservative projections. Town of Snowmass Village Budget Transmittal and Executive Summary 2009 Revised/2010 Proposed Budgets J 1 Budget Highlights Expect to finish 2009 on budget Original direction to departments was to go flat from 2009 revised budget. Assumptions : Increase fuel and utilities by 5%. Budget for bonuses after June budget review. ( No pay increases in 2009 or in 2010 if economy does not improve) Assumed Sales Tax increases: 0% in 2010, 2% in 2011, 3% in 2012, 3% in 2013 and 3% in 2014. Without the cuts proposed in the 2010 budget, expenditures exceed revenues for the next 5 years. Total staff has increased by 15.5 positions since 2004. Building & Planning revenues have declined from $2 . 1 million in 2008 to 607,000 in 2010 to $331,000 in 2012 . RETT 2009 : 85% Reduction in 2009 Revised Budget 2010: Assumed 2009 actual revenue from RETT Required deferring bus purchases, significantly reducing landscaping, and reducing the net cost of the recreation center. Road 5 mills = $2,576,000 in 2009 and 3,453,000 in 2010 In 2008, FAB and TM wanted to have a better accounting of unbudgeted future infrastructure costs for maintaining roads, snow melt, bridges, Owl Creek/Brush Creek intersection, tie walls etc. FAB concerned about using 100% of the net increase due to new assessed valuations.uations. Staff prepared three scenarios i The Fund Balance Target is $5 million . Solution : (Included in 2010 Proposed Budget) Use $238,000 in fund balance in 2010 Use $90,000 from Cougar Canyon which is not needed for debt reserve of Town Hall and Cut expenditures To maintain a $5 million fund balance 940,000 was cut in 2010 Developed two contigencies : 5% down = $1, 100,000 10% down = $1,260,000 Proposed Cuts Reduced pay/benefits Furlough Reduced/Deferred Capital Expenditures Positions Misc : Picnic/Donations Introduction The Town Manager, per the Home Rule Charter presents the 2009 revised and the 2010 proposed budgets. The Budget Document includes both short-term and long-term projections spanning five years. The attached budget plan has been prepared with relatively flat projections due to the uncertainty of the timing of an economic recovery. The Town of Snowmass Village budgets are adopted annually, but throughout the year, adjustments can be made between the departments by the Town Manager. The national economy remains uncertain and destination resorts may take several years to recover. The recession impacted our local economy both in sales tax revenues and in the development area. In the 2009 contingency budget, we revised our sales tax projections to show a decrease of 20%. In addition, the decline in development activity has caused a decrease in all planning and building department revenues. We also eliminated wage increases in 2009 in the event that Town sales tax were down by 30%. Expenditures in 2009 were revised to meet these lower revenue projections including some cost-saving measures in utilities and an across-the-board wage freeze. The decrease in building and planning revenues along with diminishing sales tax revenue requires the Town to make sustainable decreases in operating expenditures. The General Fund 2010 budget continues to maintain a balanced budget using unappropriated reserves and projects a decrease in revenues of 3.7% (-$470,029) from the 2009 budget and a corresponding decrease in expenditures of 3.7% (-$478,425). General Fund Operating Expenditures exceed Operating Revenues by $237,818. The recession also hit the real estate market and the Town revised those revenue projections down by 85% from budget and had to adjust expenditures down as well mainly in landscaping maintenance. The Real Estate Transfer Tax is impacted by the decrease in real estate transactions and lower sale prices. In 2009, the Town began to make adjustments to the parks, trails and recreation programs in order to meet the new reduced revenue stream. We also postponed bus purchases in both the 2009 and the 2010 budgets. The RETT Fund is 5 projected to use approximately$225,000 in contingency funds in an attempt to maintain services at the Recreation Center. In developing the 2010 General Fund Budget staff used the following goals: Maintain a$5 million fund balance Utilize fund balances to minimize impacts to service levels while maintaining a 5 million fund balance in the next 5 years. Cut expenditures to ensure moving towards a sustainable balanced budget over the next 5 years. Begin preparing 2010 contingency plans to be prepared for further revenue reductions. The 2010 through 2014 General Fund proposed budgets all contemplate reductions in staffing levels with the most significant cuts occurring in 2010. The Town's budget philosophy in maintaining that annual revenues will cover annual expenditures will change from "must"to "should". This deviation in philosophy is intended to provide the flexibility to use unappropriated reserves or contingency reserves established for this purpose)to supplement the budget in poor economic times as opposed to using contingency funds. Despite the challenges that we face, the Towns budget continues to remain balanced using reserves and is projected to provide some changes in service levels by the decrease in staffing levels,bus service and parks and trails. An additional effort on the Town's agenda has been the updating of the Towns Comprehensive Plan, which is a planning tool used to define how the Town should grow and the impact of such growth. In 2008, the Town began the Environmental Sustainability Workshops, which started with a grassroots effort and has grown to include all facets of the community and our neighboring areas. It should be noted that the draft Comprehensive Plan identifies several carrying capacity issues that could have cost implications in the future with regard to any new development (Transportation/Transit Issues). The Towns Capital Improvement Program will continue to see a significant decrease in projects/activities with the completion of the Entryway project, which included the Community Swimming Pool, Fitness Center, Gym, Skateboard Park and other recreational amenities. In 2009, the Town moved forward with the Rodeo Place Employee Housing Project-Phase 2A after completing Phase 1. Following the Rodeo Place Housing, there are no major capital projects budgeted until 2013. Consistent with the procedures used in 2009 and in light of the continuing economic and financial market activity, staff would propose two budget check points for the 2010 budget. First, town staff will develop a contingency budget plan for 2010. The contingencies will include a—5% and—10% sales tax reduction plan. In addition, staff will prepare a list of items to put back in the budget should our revenue projections turn out to be too conservative. We will begin to get a sense of the impact on our local 6 economy in December of 2009 and January 2010, from occupancy data, skier visit information, costs associated with snow removal, activity on the mall and various other sources and measurements. Based on that information, Town staff will assess the 2010 budget situation and determine if further service cuts are needed. This contingency budget would be available by the end of January 2010 and sooner if sales tax collection and occupancy reports indicate a more severe economic situation. Secondly, in June 2010, following the ski season, staff would evaluate the winter ski season to determine if the sales tax collections and other revenue sources are meeting the budget projections. Major capital expenditures and salary increases would not occur for 2010 until after this budget review occurs. This budget review would be presented to Council around the end of June 2010. In the budget presentation, the revenues and expenditures are compared using the year's 2009 budget to 2009 revised and 2009 budget to 2010 proposed. Budget Philosophy The Town is continuing with the following budget philosophy: Balance On-eoine Revenues/Expenditures Annual on-going revenues should 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. Euuipment 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. 7 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 Poticv 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 also commit to bringing that level back up to 15% in future years. State of the Budget Revenues GENERAL FUND Property Taxes —Property tax revenues are budgeted to remain the same in 2010, but this may change pending the certification of assessed values from Pitkin County Assessor's office in mid-October. 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 2009, Town Sales Taxes were down by approximately 16%and the June County Sales Taxes were down by approximately 19%. We decreased the remaining months by 20-37%to the end of the year. For the 2010 proposed budget we used a 0% increase over 2009 revised figures. As we do every year, we will closely monitor this revenue source and make adjustments as necessary. Franchise/Occupation Tax—2009 Revised budget increased by $11,639 over the 2009 budget. The 2010 budget will increase by 3%over the 2009 revised budget. State Grant—DUI Enforcement—The Town is in the second year of a three-year cycle to receive grant funds for this program in 2010. FTA-5311 Grant—Reflects a slight increase in funding from the Federal Government for Transit operations in the 2010 proposed budget. Planning Department Fees— Planning Department fees are projected to decrease by 50% from the 2009 budget to the 2010 proposed budget due to a decrease in development activity. Building Permits—A decrease in building permits from 2009 revised to 2010 proposed is projected at 37%due to a decrease in building activity. F i Plan Check Fees—The decrease in Plan Check Fees for 2010 proposed is based on the same factor as building permits. Solid Waste Fees—Solid Waste fees are budgeted at the same level as in the 2009 revised budget. Pool and Fitness Center Fees—These fees are coming in higher than projected, but the program will continue to be subsidized by the RETT fund. Ski Corporation Contributions—For 2010, we have projected a 0%change in skier visits and the allowed increase in the mitigation rate, which is projected at 2%per the agreement. Interest Income—The decrease in interest income is due to declining interest rates and a lower fund balance. Fitness Classes/Trainers-These fees are increased in 2010 due to the popularity of these types of classes. 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 decrease reflects the net impact of the pool and fitness center costs, as well as the transfer to cover all recreation activities, the landscaping program and Transportation rolling stock costs and is approximately a 14% decrease. Transfer-In Road Fund—Reflects the increase in the 2010 budget for the replacement of a CAT Loader and Sweeper. REAL ESTATE TRANSFER TAX FUND RETT Revenues—We have revised the annual RETT revenues at 0% above the 2009 revised budget. Base Village sales are shown on a separate line in the summary. Interest Income—The decrease in interest income is due to declining interest rates and a lower fund balance. ROAD FUND Road Fund Property Taxes—The Road Fund will continue to assess the maximum of 5 mills to cover road expenditures. to addition,the Town will begin the long-term repair and replacement of bridges, tiewalls and roads. Occupancy Assessments—Reflects the declining occupancy assessments for 2010. 9 HOUSING FUNDS Housing Funds—Rental increases for the three Housing Funds are budgeted 0% due to the state of our local economy and to ward off the any declines in occupancy levels. The Housing Director is able to support the expenditures with these rents for 2010. LOTTERY FUND Lottery Fund—These revenues are based on year-to-date actual and projections through the end of the year. DEBT SERVICE FUND Debt Service Fund—Property taxes are projected to cover the principal and interest on the outstanding General Obligation Bonds. MARKETING AND SPECIAL EVENTS FUND Marketing/Special Events Fund—the Town budgeted the same 0% increase in sales taxes for this fund as in the General Fund. GROUP SALES FUND Group Sales Fund—In 2010, we are projecting a 0% increase in Lodging Tax. EXCISE TAX FUND This fund is budgeting for a slight decrease in the 2009 revised revenues based on year to date actuals. 2010 is budgeted slightly lower based on projections from the Planning Department. Ex enditures General Fund—The 2009 revised operating budget is 3.6% lower than the 2009 contingency budget that was adopted in June for 2009 mainly due to decreases in personnel costs (raises,benefits), energy costs(utilities) and vehicle costs. The 2010 proposed budget is 3.7%below the 2009 budget. The breakdown of the 3.7% decrease listed below. Of the 3.7%decrease, Operating and Maintenance expenditures account for(.8%) or 107.863) decrease in Vehicle gas & oil and landscaping costs. Personnel Services decrease accounts for(4.9%) or a decrease of($632,279). This is due to a reduction in staffing levels based on the economic financial challenges the Town faces. i rJ Purchased Services accounts for(1.6%) or a($200,609) decrease mainly due to savings in utility costs. Grants and Donations account for .0%. There is no increase budgeted for this category. Capital Outlay accounts for 3.6%increase or$468,126. Of this amount, approximately 250,000 is reimbursed from other funds. These costs are supported by the vehicle replacement schedule prepared by the Fleet Manager. There will be replacements of a Solid Waste Truck, a CAT loader and a Road Mack truck in 2010. One-time expenditures—The 2010 proposed budget decreases by $119,488 mainly due to the completion of the Comprehensive Plan and a reduction in Health and Human services grants of$21,000. RETT Fund—RETT Fund operating expenditures are projected to decrease by 1,300,000 from the 2009 budget to the 2010 proposed mainly due to bus replacements, landscaping and transfers out to the CIP. Road Fund—The Road Fund is budgeted to expend approximately$513,000 in annual overlays, in addition to the transfer out to the General Fund for road repairs and maintenance. There are also budgeted costs for repairs to Snowmelt Road,bridges and tiewalls. Housing Fund—Budget includes the normal repairs and maintenance and on-going annual operations. Marketing and Special Events Fund—Is projecting a decrease in expenditures for 2010 from the 2009 budget for$244,000 mainly in Winter marketing, Winter events and Summer marketing. Group Sales Fund—Is projected to decrease by$264,656 due to the Bedford lease, marketing and client interactions. Debt Service Fund—The 2010 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 is budgeted with a significant decrease in expenditures due to the completion of several projects at the Entryway, Gym and Rodeo Place Homes. Fund Balance General Fund—The fund balance decreases from 2009 revised to 2010 proposed by 277,818. The contingency reserve remains at 15%of operating revenue of$1,852,658. it RETT Fund—RETT Fund projects a decrease in fund balance of$688,894 due to the drastic downturn in real estate sales and the Towns desire to try to maintain current services. Marketin¢/Special Events Fund—This fund continues to set aside 10% of annual revenues and has approximately $800 in unappropriated funds at the end of 2010. Group Sales Fund—This fund continues to set aside 10% of annual revenues and has approximately$73,000 in unappropriated funds at the end of 2010. Excise Tax Fund— In 2010, the fund balance increases by $1,608,000, at the completion of the Phase I Rodeo Homes and Phase 2A in 2009. Lottery Fund—The fund balance increases in 2010, building up the reserve for a future project yet to be determined. BUDGET ITEMS OF NOTE: General Fund Town Hall Reserve In both 2010 and 2011, the proposed budgets recommend applying $90,000 toward the payments of the Town Hall COP rather than depositing the funds into the reserve. Based on current projections, the Town Hall reserve would decrease from $540,000 to $360,000 at the end of the COP payoff. Fund Balance The Budget was prepared using the goal of maintaining a fund balance level of 5,000,000 or more for the General Fund. Grants and Donations Health and Human Service grants are proposed to decrease from $61,000 to $40,000 per year in order to minimize the annual impact to fund balance. Bus Service The 2010 proposed budget contains the elimination of bus service on Route 7. This cut saves the Town approximately $85,000 annually or$425,000 over the 5 year budget term. Community Picnic The Community Picnic is currently budgeted at $0, saving the town $6,500 per year. 1 Reduction-in-Force The Town was able to sustain most of its staffing levels through 2009,but unfortunately, this is not the case for 2010. In order to develop a long-term sustainable budget, the Town is forced to evaluate all positions and make a determination of positions to remain in the budget. Reserves As with the 2009 budget, the 2010 General Fund budget does not propose the use of the Contingency Reserve. Both budgets do however use some of the$2.2M unappropriated reserves to minimize the impact on Town service levels and to bridge the short-tem effects of the economic impacts. These are funds that are unallocated for general government purposes. Recreation, Parks and Trails Besides the Reduction-in-Force, the Parks and Trails budget will feel the greatest impact due to the decrease in real estate transactions. The program will be reduced to 2 employees and contract services to maintain specific gardens and trails. In addition, the Recreation Center staffing levels will be evaluated to look for greater efficiencies using current staff. RETT Fund Reserves Even with the cuts in the Recreation/Parks/Trails program and pushing transportation bus purchases out a year or two, the RETT Fund will struggle to fund recreational activity. The 5-year budget proposes using contingency funds in order to support the recreation, parks, trails and transportation capital needs. There is also a one-time reduction in the Capital Equipment Reserve to fund buses. In 2014, the contingency fund begins to rebuild. Housing Funds Housin¢Funds In keeping with the philosophy used in developing the General Fund budget, the Housing Director has managed to develop a 2010 budget that takes into account the economic strains placed on our local workforce and proposes a 0% change in rents for 2010. In Summary Staff has carried forward the budget philosophies agreed upon during past years budget seasons. Despite the many challenges in the economy, we have presented you a balanced budget for 2010 and 2009 remains balanced. i Staff would like the opportunity to revisit the very conservative projections for Personnel Services contained in the 2010 proposed budget should our revenues exceed our projections. This would be done following the ski season. In addition, the Town has budgeted for a normal winter snow year for the 2009/10 season. There will be continued challenges on Town staff to maintain a balanced budget and to provide the best services possible for the community and our guest with the impending reduction of staff. The goal is to adopt the budget by October 19, 2009. We look forward to discussing the budget with you. 1 Town of Snowmass Village 2009 Revised 2010 ProposedBudget 1 z Budget Philosophy Balance On- going Revenues/ Expenditures Identify Opportunities for Cost/ Service EfficienciesUse Most Restricted Funds First Manage Equipment Replacement Program Identify Funds Available/ Reserves Use One- time Funds for One- time Costs Identify Capital Improvement Projects Maintain General Fund Reserve Policy Recommendations 3 TOWN OF SNOWMASS VILLAGE Summary of All Funds Outstanding Debt All 4 Town of Snowmass Village All Funds - Budget Summary - 201C Fund Beginning Fund Balance Revenues Expenditures Transfers Other Ending Fund Balance General Fund 5, 684, 093 $ 9, 029, 850 $ ( 12, 588, 874) $ 3, 321, 206 $ 40, 000) $ 5, 406, 275 Debt Service Fund 24 $ 2, 040, 635 $ ( 2, 040, 635) 24 Lottery Fund 55, 371 $ 21, 605 76, 976 RETT Fund 3, 160, 647 $ 1, 550, 613 $ ( 849, 459) $ ( 1, 390, 048) 2, 471, 753 Road Fund 561, 858 $ 2, 941, 971 $ ( 953, 244) $ ( 1, 961, 158) 589, 427 Excise Tax Fund 3, 871, 727 $ 2, 460, 600 $ 1, 500) 6, 330, 827 Marketing Fund 266, 003 $ 3, 067, 097 $ ( 3, 020, 147) 312, 953 Group Sales Fund 333, 409 $ 1, 091, 007 $ ( 1, 214, 475) 209, 941 CIP Fund 30, 000) $ 30, 000 Reop FundHousing Fund 879, 503 $ 1, 243, 260 $ ( 1, 163, 818) 52, 497) $ 906, 448 Mtn View I Fund 1, 887, 570 $ 1, 001, 160 $ ( 926, 790) 5, 450) $ 1, 956, 490 Mtn View II Fund 150, 846 $ 245, 415 $ ( 214, 438) 181, 823 TOTAL Funds $ 16, 851, 051 $ 24, 693, 213 $ ( 23, 003, 380) $ 97, 947) $ 18, 442, 937 5 Town of Snowmass Village Outstanding Debt as of 12/ 31/ 10 Balance 2010 Balance Purpose Type at 12/ 31/ 09 Principal Paid at 12/ 31/ 10 Maturity Date Operations Facility General Obligation 495, 000 $ 495, 000 $ Nov. 15, 2010 Road Bond General Obligation 35, 000 $ 35, 000 $ Nov. 15, 2010 Droste Property General Obligation 4, 505, 000 $ 350, 000 $ 4, 155, 000 Dec. 15, 2019 Rodeo Property General Obligation 910, 000 $ 445, 000 $ 465, 000 Dec. 15, 2011 5wimrvng Pool General Obligation 1, 655, 000 $ 155, 000 $ 1, 500, 000 Aug. 01, 2018 Recreation Center General Obligation 3, 145, 000 $ 3, 145, 000 Oct. 01, 2026 Sub- Total ( NON- HOUSING) 10, 745, 000 $ 1, 480, 000 $ 9, 265, 000 MM View Phase II General Obligation 1, 010, 000 $ 100, 000 $ 910, 000 Nov. 15, 2017 Mountain View Limited General Obligation/ Project Revenue $ 3, 330, 000 $ 425, 000 $ 2, 905, 000 Dec. 15, 2016 Housing Project Revenue 2, 200, 000 $ 375, 000 $ 1, 825, 000 Nov. 01, 2014 Sub- Total ( HOUSING- RELATED) $ 6, 540, 000 $ 900, 000 $ 5, 640, 000 GRAND TOTAL 17, 285, 000 $ 2, 380, 000 $ 14, 905, 000 Town Hall Certificate of Participation ( not considered a $ 8, 185, 000 $ 345, 000 $ 7, 840, 000 Dec. 01, 2026 debt instrument) 6 Town of Snowmass Village Outstanding Debt as of 12/ 31/ 10 7, 000, 000 6, 000, 000 5, 000, 000 4, 000, 000 3, 000, 000 2, 000, 000 4, 155, 000 2, 905000 ----$ 3, 145 000 1000, 000 1, 500, 000 0 1, 825000 465 000 910, 000 Operations Road Bond Rodeo Property Droste Swimming Pool Recreation Mtn View Phase Mountain View Housing Facility Property Center II Paid off in 2010 Paid off in 201 Paid off in 2011 Paid off in 2019 Paid off in 2018 Paid off in ......••••' Paid off in 20171Paid off in 2016 Paid off in 201 2026 Town Bonds ( NON- HOUSING) Housing Related Bonds TOWN OF SNOWMASS VILLAGE GeneralFund i 8 Town of Snowmass Village Tnneral Fund Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED variance PROPOSED OPERATING REVENUES 14, 332, 749. 13 $ 12, 641085. 00 $ 12, 309, 489. 00 $ ( 331, 596. 00) $ 12, 171056. 00 Cougar Canyon 90 000. 00 $ 90, 000. 00 180 000. 00 Base Village- Revenues 202, 838. 00 $ 202, 838. 00) $ OPERATING EXPENDITURES 12, 576, 912. 03) $ ( 12, 803, 821. 00) $ ( 12, 382, 620. 00) $ 421, 201. 00 $ ( 11, 857, 270. 00) Bose Village- Expenditures 152, 692. 00) $ 152 692. 00 $ NET REVENUE over EXPENDITURES 1, 755, 837. 10 $ ( 22, 590. 00) $ 16, 869. 00 $ 39, 459. 00 $ 493, 766. 00 Capital Outlay 266, 779. 00) $ ( 263, 478. 00) $ ( 232, 550. 00) $ 30, 928. 00 $ ( 731, 604. 00) GRAND TOTAL - REVENUE over EXPENDITURES $ 1, 489, 058. 10 $ ( 286, 068. 00) $ ( 215, 681. 00) $ 70, 387. 00 $ ( 237, 818. 00) Other Appropriations/ Reserves 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Inventory 134, 393. 20 $ 13000000 $ 130, 000. 00 $ 130, 000. 00 Prepaid Expenses 65, 361. 32 $ 50, 000. 00 $ 50, 000. 00 $ 50, 000. 00 Emergency Contingency 340, 653. 28 $ 291, 562. 00 $ 291, 562. 00 $ 291, 562. 00 Capital Equipment Reserve 399, 786. 00 $ 473, 244. 00 $ 453, 445. 00 $ 19, 799. 00) $ 453, 445. 00 Town Hall COP Reserve- Cougar Canyon 540, 000. 00 $ 630, 000. 00 $ 630, 000. 00 $ 630, 000. 00 Comp Plan Reserve 61, 488. 00 $ Town Hall Reserve 25, 000. 00 $ Contingency- 15% of Operating Revenue 2, 149, 912. 37 $ 1, 940, 08845 $ 1, 859, 923. 35 $ 80, 165. 10) $ 1, 852658. 40 TOTAL- OTHER APPROPRIATIONS/ RESERVES $ 3, 716, 594. 17 $ 3, 514, 894. 45 $ 3, 414, 930. 35 $ ( 99, 964. 10) $ 3, 407, 665. 40 9 Town of Snowmass Village General Fund Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED OPERATING REVENUES 11, 923, 396. 00 $ 12 091, 146. 00 $ 11, 998, 587. 00 $ 12, 413, 956. 00 Cougar Canyon 180, 000. 00 $ 90, 000. 00 $ 90, 000. 00 $ 90, 000. 00 Base Village - Revenues OPERATING EXPENDITURES 11, 716, 963. 00) $ ( 11, 791, 058. 00) $ ( 11, 922, 368. 00) $ ( 12, 122, 283. 00) Base Village- Expenditures NET REVENUE over EXPENDITURES 386, 433. 00 $ 390, 088. 00 $ 166, 219. 00 $ 381, 673. 00 Capital Outlay 710, 34400) $ ( 450, 455. 00) $ ( 109, 561. 00) $ ( 404, 521. 00) GRAND TOTAL - REVENUE over EXPENDITURES $ ( 323, 911. 00) $ ( 60, 367. 00) $ 56, 658. 00 $ ( 22, 848. 00) Other Appropriations/ Reserves 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Inventory 130, 000. 00 $ 130, 000. 00 $ 130, 000. 00 $ 130, 000. 00 Prepaid Expenses 50, 000. 00 $ 50, 000. 00 $ 50, 000. 00 $ 50, 000. 00 Emergency Contingency 291, 562. 00 $ 291, 562. 00 $ 291, 562. 00 $ 291, 562. 00 Capital Equipment Reserve 453 445. 00 $ 453, 445. 00 $ 453, 445. 00 $ 453, 445. 00 Town Hall COP Reserve- Cougar Canyon 630, 000. 00 $ 720, 000. 00 $ 810, 000. 00 $ 900, 000. 00 Comp Plan Reserve Town Hall Reserve Contingency- 15% of Operating Revenue 1815, 509. 40 $ 1, 827, 171. 90 $ 1, 813, 288. 05 $ 1, 875, 59340 TOTAL- OTHER APPROPRIATIONS/ RESERVES 3, 370, 516. 40 $ 3, 472, 178. 90 $ 3, 548, 295. 05 $ 3, 700, 600. 40 Town of Snowmass Village 10 General Fund — Fund Balance Summary Available Reserves and One- time Funds 2008 2009 2009 2009 2010 ACTUAL BUDGET REVISED Variance PROPOSED Year End Carryover 4, 730, 858. 56 $ 5, 994, 261. 56 $ 5, 994, 261. 56 5, 684 092. 56 TOTAL YEAR END FUNDS 4, 730, 858. 56 $ 5, 994, 261. 56 $ 5, 994, 261. 56 $ 5, 684, 092. 56 Other Revenues Cougar Canyon to Town Hall Reserve $ 180, 000 00 $ 90 000. 00 $ 90, 000. 00 $ Transfer m- CIP Town Hall 252, 640. 91 Other Fxaenditures Transfer to CIP Town Hall ( Design and FF dE) 166, 328. 34) One- time Purchases 491, 967. 67) $ ( 159. 48800) $ ( 159, 488. 00) $ 40, 000. 00) Town Hall Expenditures 2500000) $ ( 2500000) NET AVAILABLE FUNDS 4, 505, 203 46 $ 5, 899, 773. 56 $ 5, 899, 773. 56 $ 5, 644, 092. 56 GENERAL FUND - FUND BALANCE SUMMARY TOTAL YEAR END FUNDS 4, 730, 858. 56 $ 5, 994, 261. 56 $ 5, 994, 261. 56 $ 5, 684, 092. 56 Annual Revenue over Expenditures $ 1, 489, 058. 10 $ ( 286, 068. 00) $ ( 215, 681. 00) $ 70, 387. 00 $ 237, 818. 00) Net One- time Funds ( Rev/ Exp) $ ( 225, 655. 10) $ ( 94, 488. 00) $ ( 94, 488. 00) $ 40, 000. 00) Total Fund Balance 5, 994, 261. 56 $ 5, 613, 705. 56 $ 5, 684, 092. 56 $ 70, 387. 00 $ 5, 406, 274. 56 Town of Snowmass Village 11 General Fund — Fund Balance Summary Available Reserves and One- time Funds 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Year End Carryover 5, 406, 274. 56 $ 5, 042, 363. 56 $ 5, 031, 996. 56 $ 5, 138, 654. 56 TOTAL YEAR END FUNDS 5, 406, 274. 56 $ 5, 042, 363. 56 $ 5, 031, 996. 56 $ 5, 138, 654. 56 Other Revenues- Cougar Canyon to Town Hall Reserve $ 90, 000. 00 $ 90, 000. 00 $ 90, 000. 00 Transfer in- CIP Town Hall Other Expenditures Transfer to CIP Town Hall -( Design and FF 6 E) One- time Purchases 40, 00000) $ 40, 000. 00) $ ( 4000000) $ ( 40, 000. 00) Town Hall Expenditures NET AVAILABLE FUNDS 5, 366, 274. 56 $ 5, 092, 363. 56 $ 5. 081, 996. 56 $ 5, 188, 654. 56 GENERAL FUND - FUND BALANCE SUMMARY TOTAL YEAR END FUNDS 5, 406, 274. 56 $ 5, 042, 363. 56 $ 5, 031, 996. 56 $ 5, 138, 654. 56 Annual Revenue over Expenditures $ ( 323, 911. 00) $ ( 60, 367. 00) $ 56, 658. 00 $ ( 22, 848. 00) Net One- time Funds ( Rev/ Exp) $ ( 40, 000. 00) $ 50, 000. 00 $ 50, 000. 00 $ 50, 000. 00 Total Fund Balance 5, 042, 363. 56 $ 5, 031, 996. 56 $ 5, 138, 654. 56 $ 5. 165, 806. 56 12 Town of Snowmass Village General Fund Armropriations/ Reserves Balance U= UnreSVlCtd Type 12/ 31/ 2010 R_ Restr, ted Description/ Constraints Inventory 130, 000. 00 R Appropriated from expenditures and are not spendable resources: for Gas/ Oil, Parts 6 5uppIies and Bus Passes Prepaid Expenses 50, 000 00 R Appropriated from expenditures and are not spendable resources: for Wkmns Comp, Bldg Lease Pymts, Health Insurance, etc. Emergency Contingency 291, 562. 00 R Per State Constitution ( TABOR) the Town must set aside 3% of Fiscal Year Expenditures into an emergency contingency reserve Capital Equipment Reserve 453, 445. 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 Hal I COP Reserve - 630, 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, 852, 658. 40 U A contingency fund based on 15% of operating revenues Funds Available 1, 998, 609. 16 U Unappropriated Funds TOTAL 5, 406, 274. 56 Total General Fund fund balance 13 Town of Snowmass Village General Fund Operating Summary 18, 000 15, 000 12, 934 $ 12, 957 ' 12, 399 $ 12, 382 12, 351 11 857 12, 000 Operating Revenues Operating Expenditures 9000 Transfers Out 0 Capital Outlay NJOtw $ 6. 000 3, 000 263 732 2008 Budget 2008 Revised 2009 Budget Note: Excludes major projects Town of Snowmass Village 14 General Fund Operating Revenues 2010 — Total = 12/ 171/ 056 Other Financing Sources Transfers from Other 0% Funds 1, 200 Sales Taxes 27% 26% 3, 321, 206 3, 209, 212Property Taxes 2% Miscellaneous 319, 509 3%326, 076 Other Taxes 6% Contributions 726, 607 8%999, 328 Intergovernmental Revenue Fines and Forfeits 5%655, 231 1% Licenses/ Permits 55, 300 Charges for Services 4% 18% 421, 997 2, 135, 390 15 Town of Snowmass Village Sales Taxes 3, 000, 000 2, 638, 777 Town Sales Taxes County Sales Taxes 2, 500, 000 2, 077, 896 2, 077, 896 2, 000, 000 u) 1, 391, 205 1, 500, 000 1, 131, 316 1, 131, 316 NrH $ 1, 000, 000 500, 000 2008 Actual 2009 Revised 2010 Proposed Town of Snowmass Village 16 General Fund Operating Expenditures by Department and Division ( inc capital ) n ' n _ T> ntns - < 1 ? 588, 874 Town Clerk Town Manager P. W. Administration 10% 4% Town Council 1, 283, 481 494, 905 2% 3% 227, 584 345, 683 Transportation22% Building 2, 764, 855 3%389, 320 P. W. Solid Waste Public Safety 13Y 7%852, 195 1, 595, 435Planning Personnel Reductions 4% 5%) 492, 536 626, 224) P. W. Shop 5% P. W. Road 647, 759 13% 1, 690, 680 Finance P. W. Facility Mntn 7% P. W. Recreation 2% 894, 230 Parks, Trails 284, 150 10% 1. 252, 285 17 Town of Snowmass Village General Fund Operating Expenditures by Department ( inc capital ) 2010 - Total = $ 12, 588, 874 Personnel Reductions 5%)626, 224) Building3% Town Manager Town Council 389, 320 4% 3% 494, 905 345, 683 Public Works ( w/ o Finance Parks/ Recreation) 7% 29% 894, 230 3, 702, 368 Town Clerk 10% 1, 283, 481 Planning Transportation 4% 22% 492, 536 2, 764, 855 Public Safety P. W. Parks, Trails and 13% Recreation 1, 595, 435 10% 1, 252, 285 Revenues 18 2009 Budget 12, 641, 085 County Sales Tax 82, 836) Y- T- D plus down 20- 37% for remaining months G e n e ra I Fund Town Soles Tax 32, 327) Y- T- D ma plus down 20- 37% for reining months Franchise/ Occup Tax 11, 639 Increase in utility usage ( growth) Business Cols Tax Licenses $ 14, 653 New businesses Budget Building/ Contractor License $ 7, 000) Less building activity Building Permits 100, 073 Base Village Bldg Plan Check Fees 53, 009) Less building activity Electrical Permits 55, 000) Less building activity Planning Dept Fees 75, 000) Reduction in billable development work Comparisons- Trans/ Parking Revenue $ 25, 000 Based on 2009 winter revenue y-t- d Special Bus Runs 18, 500 Charging for all services Recreation Fees 2Increaseinrecreationactiviti es 2009 Budget to Solid Waste Fees 58, 1748, 174) Reduction in trash pickups/ eliminate fuel surcharge Fitness Classes/ Trainers $ 28, 285 Based on y- t-d fees collected Parking Violations 12, 653) Reduction in parking fines Ski Corp Contributions 115, 590 Inc in skier visits from Hybrid budget 2009 Revise d Interest Inc & Penalties $ 81, 360) Decline in interest rates Transfer In- RETT 43, 643 Inc in Transp costs& recreation subsidy Transfer In- Road 292, 702) Decrease in utility costs& gas/ oil Other Accounts 32, 432 Expenditures 2009 Revised Budget $ 12, 309, 489 2009 Budget 13, 067, 299 Payroll 191, 495) Wage Freeze/ Attrition Payroll- Benefits 55, 466) Due to wage freeze/ attrition Payroll- O. T. 35, 116 Police/ Transportation Utilities- 5nowmelt Road 173, 878) Decrease in utility costs Vehicle Gas & Oil 84, 391) Decrease in fuel costs Vehicle Parts & Supplies $ 27, 989 Bus equipment Cash Purchases 30, 928) Road vehicle cost savings Other Accounts 20, 924 2009 Revised Budget $ 12, 615, 170 Revenues 19 2009 Budget 12, 641, 085 County Sales Tax 82, 836) 2010 is a 0% increase over 2009 revised Town Sales Tax 32, 327) 2010 is a 0% increase over 2009 revised General Fun d Franchise/ Occup Tax 25, 908 Increase in utility usage Business/ Sls Tax Licenses $ 20, 110 New businesses Building/ Contractor License $ 7, 000) Less building activity Budget Building Permits 52, 527) Less building activity Bldg Plan Check Fees 151, 699) Less building activity Electrical Permits 30, 000) Less building activity Comparison s Planning Dept Fees 125, 000) Reduction in billable development work Trans/ Parking Revenue 25, 000 Based on 2009 revised Special Bus Runs 27, 000 Charging for all services 2009 Budget t o Recreation Fees 28, 650 Increase in recreation activities Solid Waste Fees 58, 174) Reduction in trash pickups/ eliminate fuel surcharge Attorney Fees 16, 275) Reduction in billable development work Pool & Fitness Fees 28, 360 Increased activity 2010 Proposed Fitness Classes/ Trainers $ 33, 285 Increased activity Interest Inc & Penalties $ 80, 000) Decline in interest rates Ski Corp Contributions 133, 385 Increase from Hybrid budget Transfer In- RETT 169, 668) Reduction in Landscaping/ Recreation subsidy Other Accounts 13, 779 2010 Proposed Budget $ 12, 171, 056 Expenditures2009 Budget 13, 067, 299 Payroll 648, 993) Reduction in Staff Utilities 66, 856) Decrease in utility costs Utilities- Snowmelt Road 155, 128) Decrease in utility costs i . Vehicle Gas& Oil 82, 479) Decrease in Gas& Oil Cash Purchases 468, 126 CAT Loader/ Sweeper/ Rearload Truck Other Accounts 6, 905 2010 Proposed Budget $ 12, 588, 874 General Fund zo One- Time Expenditures2009 Budget 2009 Revised 2010 Proposed Purchased Services Consultant- Comp Plan 61, 488 $ 61, 488 $ 5ub- Total 61, 488 $ 61, 488 $ Operating & Maintenance Grants & Donations Health & Human Services 61, 000 $ 61, 000 $ 40, 000 Sub- Total 61, 000 $ 61, 000 $ 40, 000 Capital Outlay Arts Board 25, 000 $ 25, 000 $ Shop- Tire Machine 12, 000 $ 12, 000 $ Sub- Total 37, 000 $ 37, 000 $ Oil GRAND TOTAL $ 159, 488 $ 159, 488 $ 40, 000 zi TOWN OF SNOWMASS VILLAGE Real Estate Transfer Tax Fund 22 Town of Snowmass Village Real Estate Transfer Tax Fund Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BU06ET REVISED Variance PROPOSED BEGINNING CARRYOVER 8, 379, 496. 01 $ 5, 582, 871. 99 $ 5, 582, 87199 $ 3, 160, 646. 99 OPERATING REVENUES 3, 142, 124. 87 $ 651, 677. 35 $ 952, 113. 00 $ 300, 435. 65 $ 1, 024, 11300 OPERATING EXPENDITURES 1, 924, 678. 40) $ ( 3. 137, 638. 00) $ ( 3, 159, 804. 00) $ ( 22, 166. 00) $ ( 2, 209, 507. 00) NET REVENUE over EXPENDITURES 1, 217, 446. 47 $ ( 2, 485, 960. 65) $ ( 2, 207, 691. 00) $ 278, 269. 65 $ ( 1, 185, 394. 00) Transf er Out- Capital Projects Fund 4, 804, 485. 09) $ ( 413, 48500) $ ( 422, 53400) $ ( 9, 04900) $ ( 3000000) Town Hall- Landscaping 113, 000. 00) $ BaseVillage- Revenues 903, 414. 60 $ 340000. 00 $ 208, 00000 $ ( 132, 000. 00) $ 526, 50000 YEAR END CARRYOVER 5, 582, 871. 99 $ 3, 023, 426. 34 $ 3, 160, 646 99 137, 220. 65 $ 2, 471, 752. 99 Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Capital Egwpment Reserve 782, 39300 $ 790. 22900 $ 790, 229. 00 $ 540, 229. 00 Vehicle Replacement Reserve 431 000. 00 $ Interfund Receivable 569, 082. 58 $ Contingency 2000, 00000 $ 2, 000, 000. 00 $ 2, 000, 000. 00 $ 1, 775, 00000 Funds Available 1, 800, 396. 41 $ 233, 197. 34 $ 370 417. 99 137, 220. 65 $ 156, 523. 99 TOTAL- OTHER APPROPRIATIONS/ RESERVES 5, 582, 871. 99 $ 3, 023, 426. 34 $ 3, 160, 646. 99 $ 137, 220. 65 $ 2, 471, 752. 99 23 Town of Snowmass Village Real Estate Transfer Tax Fund Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 2, 471, 752. 99 $ 1, 597, 847. 99 $ 1, 219, 528. 99 $ 1, 331, 735. 99 OPERATING REVENUES 1, 435, 750. 00 $ 1, 711, 523. 00 $ 2, 212, 318. 00 $ 2, 413, 13800 OPERATING EXPENDITURES 2, 279, 655. 00) $ ( 2, 059, 842. 00) $ ( 2, 070, 111. 00) $ ( 2. 156, 086. 00) NET REVENUE over EXPENDITURES 843, 905. 00) $ ( 348, 319. 00) $ 142, 207. 00 $ 257, 052. 00 Transfer Out- Capital Projects Fund 30, 000. 00) $ ( 30, 000. 00) $ ( 30, 000. 00) $ ( 30, 000. 00) Town Hall- Landscaping Base Village - Revenues YEAR END CARRYOVER 1, 597, 847. 99 $ 1, 219, 528. 99 $ 1, 331, 735. 99 $ 1, 558, 787. 99 Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Capital Equipment Reserve 540, 229. 00 $ 540, 229. 00 $ 540, 229. 00 $ 540, 229. 00 Vehicle Replacement Reserve Interfund Receivable Contingency 900, 000. 00 $ 550, 000. 00 $ 650, 000. 00 $ 875, 000. 00 Funds Available 157, 618. 99 $ 129, 299. 99 $ 141, 506. 99 $ 143, 558. 99 TOTAL- OTHER APPROPRIATIONS/ RESERVES 1, 597, 847. 99 $ 1, 219, 528. 99 $ 1, 331, 735. 99 $ 1, 558, 787. 99 24 Real Estate Transfer Tax Fund Revenues and Expenditures 2010 10, 000 9, 000 - 8, 000 Operating Revenues 7, 000 Operating Expenditures Transfers Out 6, 000 NC0 5, 000 - L 4, 000 3, 138 3, 160 3, 000 X2, 210 2, 000 1, 551 992 1, 160 1, 000 413 423 30 _ 2009 Budget 2009 Revised 2010 Budget 25 Real Estate Revenues Transfer Tax Fund 2009 Budget 991, 677 Real Estate Transfer Taxes 296, 058 Amount over Hybrid Budget Budget FTA 5309- Capital Grant 99, 878 Increase in Federal funding Interest Income 95, 500) Decline in interest rates Comparisons- Other Accounts 132, 000) Base Village Sales 2009 Revised Budget 1, 160, 113 2009 Budget to 2009 Revised Expenditures2009 Budget 3, 551, 123 Transfer Out- Pool/ Rec Ctr 31, 374 Increase shoplabor/ fac mntnlabor Other Accounts 159) 44 2009 Revised Budget 3, 582, 338 26 Real Estate Revenues Transfer Tax Fund 2009 Budget 991, 677 Real Estate Transfer Taxes 296, 058 0% change from 2009 revised budget Budget FTA 5309- Capital Grant 42, 378 Increase in Federal funding FTA 5311- Capital Grant 125, 000 Increase in Federal funding Comparison s Interest Income 91, 000) Decrease in interest rates Other Accounts 186, 500 Base Village Sales 2009 Budget to 2010 Proposed Budget 1, 550, 613Expenditures 2010 Proposed 2009 Budget 3, 551, 123 Bus& Equipment 687, 463) Based on Replacement Schedule Transfer Out- G. F. Transportation $ 26, 802 Vehicle Parts & Supplies Rodeo Improvements 40, 000) Project completed Transportation Facility 20, 000) Restrooms Transfer out- CIP 20, 000) Bus Stops Transfer out- CIP 363, 485) Entryway Project Transfer Out- G. F. Parks/ Trails 190, 129) Contract Service/ Veh Gas& Oil/ Personnel Other Accounts 17, 341) 2010 Proposed Budget 2, 239, 507 27 TOWN OF SNOWMASS VILLAGE Road Mill Levy Fund i . zs Scenario # 1 Town of Snowmass Village Road Mill Levy Fund Budget Summary Note= Minus variance figures are unfavorable Based on FAB recommendation- 10 year average AV increase 2009 2010 2011 2012 2013 2014 DESCRIPTION REVISED PROPOSED PROPOSED PROPOSED PROPOSED PROPOSED CARRYOVER 52, 489. 64) 561, 858. 36 589, 426. 94 385, 466. 52 841, 244. 10 $ 1, 968, 635. 68 REVENUES 2, 737, 077. 00 $ 2, 941, 971. 00 $ 2, 889, 871. 00 $ 2, 843, 180. 00 $ 2, 843, 498. 00 $ 2, 928, 353. 00 EXPENDITURES 2, 122, 729. 00) $ ( 2, 914, 402. 42) $ ( 3, 093, 831. 42) $ ( 2, 387, 402. 42) $ ( 1, 716, 106. 42) $ ( 4, 819, 384. 96) YEAR END CARRYOVER 561, 858. 36 589, 426. 94 385. 466. 52 841, 244. 10 $ 1, 968, 635. 68 77, 603. 72 Appropriation from 2009 2010 2011 2012 2013 2014 Year End Carryover REVISED PROPOSED PROPOSED PROPOSED PROPOSED PROPOSED UNAPPROPRIATED RESERVE 561, 858. 36 589, 426. 94 385, 466. 52 841, 244. 10 $ 1, 968, 635. 68 77, 603. 72 Year End Appropriation 561, 858. 36 589, 426. 94 385, 466. 52 841, 244. 10 $ 1, 968, 635. 68 77, 603. 72 29 Scenario # 1 Road Fund 2010 Based on FAB recommendation- 10 year average AV increase 2009 2010 2011 2012 2013 2014 Revenues Revised Proposed Proposed Proposed Proposed Proposed Property Taxes 2, 576, 687. 00 $ 2, 817, 571. 00 $ 2, 817, 571. 00 $ 2, 817, 571. 00 $ 2, 817, 571. 00 $ 2, 902, 098. 00 Road Cut Permits Occupancy Assessments 155, 000. 00 $ 114, 400. 00 $ 62, 000. 00 $ 15, 000. 00 $ 15, 000. 00 $ 15, 000. 00 Transfer in- RETT Fund Interest Income 5, 390. 00 $ 10, 000. 00 $ 10, 300. 00 $ 10, 609. 00 $ 10, 927. 00 $ 11, 255. 00 Total 2, 737, 077. 00 $ 2, 941, 971. 00 $ 2, 889, 871. 00 $ 2, 843, 180. 00 $ 2, 843, 498. 00 $ 2, 928, 353. 00 2009 2010 2011 2012 2013 2014 Expenditures Revised Proposed Proposed Proposed Proposed Proposed Engineering 19, 445. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 Collection Fees 51, 533. 00 $ 56, 351. 42 $ 56, 351. 42 $ 56, 351. 42 $ 56, 351. 42 $ 58, 041. 96 MiscellaneousTransfer out- General Fund 1, 677, 229. 00 $ 1, 961, 158. 00 $ 1, 877, 434. 00 $ 1, 894, 157. 00 $ 1, 552, 842. 00 $ 1, 763, 490. 00 Annual Overlays 346, 522. 00 $ 420, 000. 00 $ 411, 894. 00 $ 391, 894. 00 $ 81, 913. 00 $ 400, 000. 00 Wayfinding Signs 8, 000. 00 $ 81, 893. 00 $ 80, 000. 00 $ Snowmelt Rd. replacement 350, 000. 00 BC/ Wood Rd. Roundabout 623, 152. 00 $ BC/ Owl Roundabout 2, 552, 853. 00 Bus Stops 20, 000. 00 $ Snowme@ Boiler Maintenance $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 Bridge Maintenance 5, 000. 00 $ 5, 000. 00 $ 5, 000. 00 $ 5, 000. 00 Tiewall Maintenance 5, 000. 00 $ 5, 000. 00 $ 5, 000. 00 $ 5, 000. 00 Tiewall ReplacementTotal 2, 122, 729. 00 $ 2, 914, 402. 42 $ 3, 093, 831. 42 $ 2, 387, 402. 42 $ 1, 716, 106. 42 $ 4, 819, 384. 96 30 Scenario # 2 Town of Snowmass Village Road Mill Levy Fund Budget Summary Note. Minus variance figures are unfavorable Based on assessing 5 mills 2009 2010 2011 2012 2013 2014 DESCRIPTION REVISED PROPOSED PROPOSED PROPOSED PROPOSED PROPOSED CARRYOVER 52, 489. 64) 561, 858. 36 576, 767. 36 360, 147. 36 803, 265. 36 $ 1, 917, 997. 36 REVENUES 2, 737, 077. 00 $ 3, 577, 012. 00 $ 3, 524, 912. 00 $ 3, 478, 221. 00 $ 3, 478, 539. 00 $ 3, 582, 445. 00 EXPENDITURES 2, 122, 729. 00) $ ( 3, 562, 103. 00) $ ( 3, 741, 532. 00) $ ( 3, 035, 103. 00) $ ( 2, 363, 807. 00) $ ( 5, 487, 527. 00) YEAR END CARRYOVER 561, 858. 36 576, 767. 36 360, 147. 36 803, 265. 36 $ 1, 917, 997. 36 12, 915. 36 Appropriation from 2009 2010 2011 2012 2013 2014 Year End Carrvovcr REVISED PROPOSED PROPOSED PROPOSED PROPOSED PROPOSED SNOWMELT ROAD RESERVE 0. 00 0. 00 0. 00 0. 00 0. 00 0. 00 INTERFUND PAYABLE WOO 0. 00 0. 00 0. 00 0. 00 0. 00 UNAPPROPRIATED RESERVE 561, 858. 36 576, 767. 36 360, 147. 36 803. 265. 36 $ 1, 917, 997. 36 12, 915. 36 Year End Appropriation 561, 858. 36 576, 767. 36 360, 147. 36 803, 265. 36 $ 1, 917, 997. 36 12, 915. 36 31 Scenario # 2 Road Fund 2010 Based on assessing 5 mills 2009 2010 2011 2012 2013 2014 Revenues Revised Proposed Proposed Proposed Proposed Proposed Property Taxes 2, 576, 687. 00 $ 3, 452, 612. 00 $ 3, 452, 612. 00 $ 3, 452, 612. 00 $ 3, 452, 612. 00 $ 3, 556, 190. 00 Road Cut Permits Occupancy Assessments 155, 000. 00 $ 114, 400. 00 $ 62, 000. 00 $ 15, 000. 00 $ 15, 000. 00 $ 15, 000. 00 Transfer in- RETT Fund Interest Income 5, 390. 00 $ 10, 000. 00 $ 10, 300. 00 $ 10, 609. 00 $ 10, 927. 00 $ 11, 255. 00 Total 2, 737, 077. 00 $ 3, 577, 012. 00 $ 3, 524, 912. 00 $ 3, 478, 221. 00 $ 3, 478, 539. 00 $ 3, 582, 445. 00 2009 2010 2011 2012 2013 2014 Expenditures Revised Proposed Proposed Proposed Proposed Proposed Engineering 19, 445. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 Collection Fees 51, 533. 00 $ 69, 052. 00 $ 69, 052. 00 $ 69, 052. 00 $ 69, 052. 00 $ 71, 124. 00 MiscellaneousTransferout- GeneralFund 1, 677, 229. 00 $ 1, 961, 158. 00 $ 1, 877, 434. 00 $ 1, 894, 157. 00 $ 1, 552, 842. 00 $ 1, 763, 490. 00 Annual Overlays 346, 522. 00 513, 000. 00 513, 000. 00 513, 000. 00 513, 000. 00 424, 000. 00 Wayrinding Signs 8, 000. 00 $ 100, 000. 00 $ 100, 000. 00 $ Snowmelt Rd. replacement 350, 000. 00 BC/ Wood Rd. Roundabout 623, 152. 00 $ BC/ Owl Roundabout 3, 000, 000. 00 Bus Stops 20, 000. 00 $ Snowmelt Boiler Maintenance $ 30, 030. 00 $ 30, 030. 00 $ 30, 030. 00 $ 30, 030. 00 $ 30, 030. 00 Bridge Maintenance 97, 776. 00 $ 97, 776. 00 $ 97, 776. 00 $ 97, 776. 00 $ 97, 776. 00 Tiewall Maintenance 76, 107. 00 $ 76, 107. 00 $ 76, 107. 00 $ 76, 107. 00 $ 76, 107. 00 Tiewall Replacement 339, 980. 00 $ 329, 981. 00 $ 329, 981. 00 $ Total 2, 122, 729. 00 $ 3, 562, 103. 00 $ 3, 741, 532. 00 $ 3, 035, 103. 00 $ 2, 363, 807. 00 $ 5, 487, 527. 00 32 Scenario # 3 Town of Snowmass Village Road Mill Levy Fund Budget Summary Note, M irus varmnce figures are unfavorable Based on collecting 112 of add' I revenue from increased A. V. 2009 2010 2011 2012 2013 2014 DESCRIPTION REVISED PROPOSED PROPOSED PROPOSED PROPOSED PROPOSED CARRYOVER 52, 489. 64) 561, 858. 36 753, 947. 76 704, 509. 16 $ 1, 314, 808. 56 $ 2, 266, 740. 96 REVENUES 2, 737, 077. 00 $ 3, 138. 530. 00 $ 3, 086, 430. 00 $ 3, 039, 739. 00 $ 3, 040, 057. 00 $ 3, 130, 809. 00 EXPENDITURES 2, 122, 729. 00) $ ( 2, 946, 440. 60) $ ( 3, 135, 868. 60) $ ( 2, 429, 439. 60) $ ( 2, 088, 124. 60) $ ( 5, 300, 581. 08) YEAR END CARRYOVER 561, 858. 36 753. 947. 76 704, 509 16 $ 1, 314, 808. 56 $ 2, 266. 740. 96 96, 968 88 Appropriation from 2009 2010 2011 2012 2013 2014 Year End Carryover REVISED PROPOSED PROPOSED PROPOSED PROPOSED PROPOSED SNOWMELT ROAD RESERVE 0. 00 0. 00 0. 00 0. 00 0. 00 0. 00 INTERFVND PAYABLE 0. 00 0. 00 0. 00 0, 00 0. 00 0. 00 UNAPPROPRIATED RESERVE 561, 858. 36 753, 947. 76 704, 509. 16 $ 1, 314, 808. 56 $ 2, 266, 740. 96 96, 968. 88 Year End Appropriation 561, 858. 36 753, 947. 76 704, 509. 16 $ 1, 314, 808. 56 $ 2, 266, 740. 96 96, 968. 88 33 Scenario # 3 Road Fund 2010 Based on collecting 1/ 2 of add' I revenue from increased A. V. 2009 2010 2011 2012 2013 2014 Revenues Revised Proposed Proposed Proposed Proposed Proposed Property Taxes 2, 576, 687. 00 $ 3, 014, 130. 00 $ 3, 014, 130. 00 $ 3, 014, 130. 00 $ 3. 014, 130. 00 $ 3, 104, 554. 00 Road Cut Permits Occupancy Assessments 155, 000. 00 $ 114, 400. 00 $ 62, 000. 00 $ 15, 000. 00 $ 15, 000. 00 $ 15, 000. 00 Transfer in- RETf Fund Interest Income 5, 390. 00 $ 10, 000. 00 $ 10, 300. 00 $ 10, 609. 00 $ 10, 927. 00 $ 11, 255. 00 Total 2, 737, 077. 00 $ 3, 138, 530. 00 $ 3, 086, 430. 00 $ 3, 039, 739. 00 $ 3, 040, 057. 00 $ 3, 130, 809. 00 2009 2010 2011 2012 2013 2014 Expenditures Revised Proposed Proposed Proposed Proposed Proposed Engineering 19, 445. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 $ 25, 000. 00 Collection Fees 51, 533. 00 $ 60, 282. 60 $ 60, 282. 60 $ 60, 282. 60 $ 60, 282. 60 $ 62, 091. 08 MiscellaneousTransferout- GeneralFund 1, 677, 229. 00 $ 1, 961, 158. 00 $ 1, 877, 434. 00 $ 1, 894, 157. 00 $ 1, 552, 842. 00 $ 1, 763, 490. 00 Annual Overlays 346, 522. 00 $ 420, 000. 00 $ 420, 000. 00 $ 420, 000. 00 $ 420, 000. 00 $ 420, 000. 00 Wayfinding Signs 8, 000. 00 $ 100, 000. 00 $ 100, 000. 00 $ Snowmelt Rd. replacement 350, 000. 00 BC/ Wood Rd. Roundabout 623, 152. 00 $ BC/ Owl Roundabout 3, 000, 000. 00 Bus Stops 20, 000. 00 $ Snowmelt Boiler Maintenance $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 Bridge Maintenance 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 Tiewall Maintenance 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 $ 10, 000. 00 Tiewall ReplacementTotal 2, 122, 729. 00 $ 2, 946, 440. 60 $ 3, 135, 868. 60 $ 2, 429, 439. 60 $ 2, 088, 124. 60 $ 5, 300, 581. 08 34 TOWN OF SNOWMASS VILLAGE LotteryFund 35 Town of Snowmass Village Lottery Fund Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER 12803575 $ 34, 30275 $ 33, 797. 89 $ 50486) $ 55, 37089 OPERATING REVENUES 25, 762. 14 $ 26, 380. 00 $ 21, 573. 00 $ ( 4, 807. 00) $ 21, 605. 00 OPERATING EXPENDITURES NET REVENUE over EXPENDITURES 25, 762. 14 $ 26, 380. 00 $ 21, 573. 00 $ ( 4, 807. 00) $ 21, 605. 00 Transfer Out- Capital Projects Fund 120, 000. 00) $ YEAR END CARRYOVER 33, 797. 89 $ 60, 682. 75 $ 55, 370. 89 $ ( 5, 311. 86) $ 76, 975. 89 Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Funds Available 33, 797. 89 $ 60, 682. 75 $ 55, 370. 89 $ ( 5, 311. 86) $ 76, 975. 89 TOTAL- OTHER APPROPRIATIONS/ RESERVES 33, 797. 89 $ 60, 682. 75 $ 55, 370. 89 $ ( 5, 311. 86) $ 76, 975. 89 36 Town of Snowmass Village Lottery Fund Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 76, 975. 89 $ 98, 805. 89 $ 121, 076. 89 $ 144, 015. 89 OPERATING REVENUES 21, 830. 00 $ 22, 271. 00 $ 22, 939. 00 $ 23, 627. 00 OPERATING EXPENDITURES NET REVENUE over EXPENDITURES 21, 830. 00 $ 22, 271. 00 $ 22, 939. 00 $ 23, 627. 00 Transfer Out- Capital Projects Fund YEAR END CARRYOVER 98, 805. 89 $ 121, 076. 89 $ 144, 015. 89 $ 167, 642. 89 Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Funds Available 98, 805. 89 $ 121, 076. 89 $ 144, 015. 89 $ 167, 642. 89 TOTAL- OTHER APPROPRIATIONS/ RESERVES 98, 805. 89 $ 121, 076. 89 $ 144, 015. 89 $ 167, 642. 89 37 Lottery Fund Revenues and Expenditures 2010 15012510075 Operating Revenues N Operating Expenditures d$ 50 0 Transfers Out N 26 25 - 22 22 - 2009 Budget 2009 Revised 2010 Budget 38 Revenues Lottery Fund 2009 Budget 26, 380 Lottery Funds 4, 625) Decrease in sales Budget Other Accounts 182) 2009 Revised Budget $ 21, 573 Comparisons- 2009 2009 Budget to 2009 Revised Expenditures 2009 Budget Other Accounts 2009 Revised Budget $ 39 Lottery Fund Revenues2009 Budget 26, 380 Budget Lottery Funds 4, 625) Decrease in sales Other Accounts 150) Comparisons- 2010 Proposed Budget $ 21, 605 2009 Budget to 2010 Proposed Ex enditures 2009 Budget No Expenditures 2010 Proposed Budget $ e 40 TOWN OF SNOWMASS VILLAGE Excise Tax Fund 41 Town of Snowmass Village Excise Tax Fund Budget Summary Revenues over Expenditwes 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER 4, 748, 14351 $ 4, 565, 844. 05 $ 3, 292, 886. 98 $ ( 1, 272, 957. 07) $ 3, 871, 727. 06 OPERATING REVENUES 1, 469, 896. 66 $ 1, 090, 000. 00 $ 930, 354. 37 $ ( 159, 645. 63) $ 1, 608, 000. 00 Rodeo Place Nome Sales- Phase Id Phase II 2, 276, 194. 21 $ 1, 705, 084. 34 $ 3, 274. 642. 71 $ 1, 569, 558. 37 $ Rodeo Place Home Sales- Phase II Only 1, 694, 016. 00 $ 1, 694, 016. 00 $ 852, 600. 00 OPERATING EXPENDITURES 30, 410. 00) $ 307, 337. 00) $ ( 307, 337. 00) $ 1, 500. 00) Rodeo Place Home- Construction- Phase I6 II 3, 795, 854. 08) $ ( 884. 853. 00) $ ( 976, 303. 00) $ ( 91, 450. 00) $ Rodeo Place Home Soles- Phase II Only 3, 336, 920. 00) $ ( 3, 336, 920. 00) $ Country Club Townhornes Renovations 534, 236. 25) $ ( 440, 411. 00) $ ( 513, 911. 00) $ ( 73, 500. 00) $ NET REVENUE over EXPENDITURES 614, 409. 46) $ 1, 469, 820. 34 $ 764, 542. 08 $ ( 705, 278- 26) $ 2, 459, 100. 00 Tronsfer Out- Capital Projects Fund- Draw Site( Planning) 34, 540. 90) $ ( 145, 000. 00) $ ( 32, 000. 00) $ 113, 00000 $ Transfer Out- Capital Projects Fund- Rodeo Place- Phase I6 II 806, 306. 17) $ ( 111, 357. 00) $ ( 153, 702. 00) $ ( 42, 345. 00) $ YEAR END CARRYOVER 3, 292, 886. 98 $ 5, 779, 307. 39 $ 3, 871, 727. 06 $( 1, 907, 580. 33) $ 6, 330, 827. 06 Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Funds Available 3, 292, 886. 98 $ 5, 779, 307- 39 $ 3, 871, 727. 06 $ ( 1, 907, 580. 33) $ 6, 330, 827. 06 TOTAL- OTHER APPROPRIATIONS/ RESERVES 3, 292, 686- 98 $ 5, 779, 307. 39 $ 3, 871, 727. 06 $( 1, 907, 580- 33) $ 6, 330, 827. 06 42 Town of Snowmass Village Excise Tax Fund Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 6, 330, 827. 06 $ 7, 132, 327. 06 $ 7, 935, 37206 $ 8, 740, 008. 06 OPERATING REVENUES 801, 500. 00 $ 803, 045. 00 $ 804, 63600 $ 806, 275. 00 Rodeo Place Home Sales- Phone I6 Phase II Rodeo Place Home Sales- Phase II Only OPERATING EXPENDITURES Rodeo Place Home- Construction- Phase I d II Rodeo Place Home Sales- Phase II Only Country Club Townhomes Renovations NET REVENUE over EXPENDITURES 801, 500. 00 $ 803, 045. 00 $ 804, 636. 00 $ 806, 275. 00 Transfer Out- Capital Projects Fund- Draw Site ( Planning) Transfer Out- Capital Projects Fund- Rodeo Place- Phase I 8 II YEAR END CARRYOVER 7, 132, 327. 06 $ 7, 935, 372. 06 $ 8, 740, 008. 06 $ 9, 546, 283. 06 Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Funds Available 7, 132, 327. 06 $ 7, 935, 372. 06 $ 8, 740. 008. 06 $ 9, 546, 283. 06 TOTAL- OTHER APPROPRIATIONS/ RESERVES 7, 132, 327. 06 $ 7, 935, 372. 06 $ 8, 740, 008. 06 $ 9, 546, 283. 06 43 Excise Tax Fund Revenues and Expenditures 2010 8, 000 5, 899 Operating Revenues 6, 000 i Operating Expenditures 5, 134 Transfers Out v 4, 000 Ot 1$ 21,795 H 2, 461 2, 000 1, 325 256 186 2009 Budget 2009 Revised 2010 Budget 44 Revenues Excise Tax Fund 2009 Budget 2, 795, 084 Excise Tax 200, 000) Based on Y- T- D Budget CORE Grant 90, 000 Energy grant Rodeo Place Homes- Phase I 1, 569, 558 Home Sales Rodeo Place Homes- Phase II 1, 694, 016 Home Sales Comparisons- Interest Income 69, 178) Decline in interest rates Other Accounts 19, 532 2009 Budget to 2009 Revised Budget 5, 899, 013 2009 Revise d Expenditures2009 Budget 1, 581, 621 Rodeo Place Homes- Phase I 91, 450 Employee For- Sale Housing Project Rodeo Place Homes- Phase II 3, 336, 920 Added in 2009 Country Club # 25 300, 617 Town Purchase Country Club Townhomes 73, 500 Special Assessment Transfer out- CIP 70, 655) Rodeo Homes and Draw Site Other Accounts 6, 720 Ald 2009 Revised Budget 5, 320, 173 45 Revenues Excise TaxX Fun d 2009 Budget 2, 795, 084 Budget Excise Tax 250, 000) Expecting less variance requests Interest Income 40, 000) Decline in interest rates/ fund balance Comparison s Sales of CC # 25 800, 000 Sell unit Rodeo Home Sales- Phase II $ 852, 600 Rodeo Home Sales- Phase I $ ( 1, 705, 084) No sales in 2010 2009 Budget to Other Accounts 8, 000 2010 Proposed Budget $ 2, 460, 600 2010 Proposed Expenditures2009 Budget 1, 581 , 621 Rodeo Place Homes 884, 853) No expenditures in 2010 Transfer out- LIP 256, 357) No expenditures in 2010 Country Club Townhomes 440, 411) No expenditures in 2010 Other Accounts 1, 500 2010 Proposed Budget $ 1 , 500 ar, TOWN OF SNOWMASS VILLAGE REOPFund 47 Town of Snowmass Village REOP Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER OPERATING REVENUES 32, 69100 $ 32, 69100 $ OPERATING EXPENDITURES 32691. 00) $ ( 32, 69100) $ NET REVENUE over EXPENDITURES YEAR END CARRYOVER Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Funds AvailableTOTAL- OTHER APPROPRIATIONS/ RESERVES 48 Town of Snowmass Village REOP Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER OPERATING REVENUES OPERATING EXPENDITURES NET REVENUE over EXPENDITURES YEAR END CARRYOVER Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Funds AvailableTOTAL- OTHER APPROPRIATIONS/ RESERVES 49 TOWN OF SNOWMASS VILLAGE i{ Marketing & R y 4rmr Special Events Fund Y 50 Town of Snowmass Village Marketing Fund Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER 624, 698. 44 $ 433, 406. 22 $ 433, 40622 $ 0. 00) $ 266, 003. 22 OPERATING REVENUES 3, 895, 648. 76 $ 3, 156, 607. 00 $ 3, 065, 097. 00 $ ( 91, 510. 00) $ 3, 067, 097. 00 OPERATING EXPENDITURES 4, 086, 940. 98) $ ( 3, 270, 000. 00) $ ( 3, 232, 500. 00) $ 37, 500. 00 $ ( 3, 020, 147. 00) NET REVENUE over EXPENDITURES 191, 292. 22) $ ( 113, 393. 00) $ ( 167, 403. 00) $ ( 54, 010. 00) $ 46, 950. 00 YEAR END CARRYOVER 433, 406. 22 $ 320, 013. 22 $ 266, 003. 22 $ ( 54, 010 00) $ 312, 953. 22 Appropriations/ Reserves of the Year End Carryover 2006 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Reserve ( 10% of Revenues) 389. 564. 88 $ 315, 660. 70 $ 306, 509. 70 $ ( 9, 151. 00) $ 306, 709. 70 Funds Available 43, 841. 34 $ 4, 352. 52 $ ( 40, 506. 48) $ ( 44, 859. 00) $ 6, 243. 52 TOTAL- OTHER APPROPRIATIONS/ RESERVES 433, 406. 22 $ 320, 013. 22 $ 266, 003. 22 $ ( 54, 010. 00) $ 312, 953. 22 51 Town of Snowmass Village Marketing Fund Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 312, 953. 22 $ 370, 969. 22 $ 512, 225. 22 $ 729, 723. 22 OPERATING REVENUES 3, 136, 953. 00 $ 3, 233, 499. 00 $ 3, 337, 641. 00 $ 3, 440, 457. 00 OPERATING EXPENDITURES 3, 078, 937. 00) $ ( 3, 092, 243. 00) $ ( 3, 120, 143. 00) $ ( 3, 143, 097. 00) NET REVENUE over EXPENDITURES 58, 016. 00 $ 141, 256. 00 $ 217, 498. 00 $ 297, 360. 00 YEAR END CARRYOVER 370, 969. 22 $ 512, 225. 22 $ 729, 723. 22 $ 1, 027, 083. 22 Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Reserve ( 10% of Revenues) 313, 695, 30 $ 323, 349. 90 $ 333, 764. 10 $ 344, 045. 70 Funds Available 57, 273. 92 $ 188, 875. 32 $ 395, 959. 12 $ 683, 037. 52 TOTAL- OTHER APPROPRIATIONS/ RESERVES 370, 969. 22 $ 512, 225. 22 $ 729, 723. 22 $ 1, 027, 083. 22 52 Marketing and Special Events Fund Revenues and Expenditures 2010 4, 500 Operating Revenues 4, 000 Operating Expenditures 3, 500 3, 157 $ 3, 270 3, 065 $ 3, 233 3, 067 X3, 020 3, 000 2, 500 aNL 2, 000 N 1, 500 1, 000500 2009 Budget 2009 Revised 2010 Budget 53 Revenues Marketing 2009 Budget 3, 156, 607 Fund Budget Town Sales Taxes 81, 107) Y- T- D plus down 20- 37% for remaining months Interest Income 20, 403) Decrease in interest rates Comparison s Chili Pepper grew Fest 9, 000) Less in sales General Sponsorships 7, 000 Add' I Event Sponsors Other Accounts 12, 000 2009 Budget to 2009 Revised Budget $ 3, 065, 097 2009 Revise d Expenditures2009 Budget 3, 270, 000 Winter Marketing 25, 000) Decrease in sales tax revenues Postage 15, 000) Decrease in sales tax revenues Small Seasonal Activities 45, 000 Increase to add activities Winter Events 30, 000) Reduced after winter season Other Accounts 12, 500) 2009 Revised Budget $ 3, 232, 500 54 Revenues Marketing Fund 2009 Budget 3, 156, 607 Budget Town Sales Taxes 81, 107) 2010 is a 0% increase over 2009 revised Other Accounts 8, 403) Comparisons- 2010 Proposed Budget $ 3, 067, 097 2009 Budget to 2010 Proposed Expenditures2009 Budget 3, 270, 000 Winter Marketing 80, 000) Reduction in sales tax revenues Winter Events 60, 000) Reduction in sales tax revenues Summer Marketing 30, 000) Cutting expenditures to hit budget JAS Labor Day 25, 000) Reduce contributions due to budget Winter X games 35, 000) Reduce contributions due to budget Other Accounts 19, 853) Off2010 Proposed Budget $ 3, 020, 147 55 TOWN OF SNOWMASS VILLAGE Group SalesFund r i 56 Town of Snowmass Village Group Sales Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER 296, 128. 61 $ 563, 355. 90 $ 563, 355. 90 $ 318, 448. 90 OPERATING REVENUES 1, 377, 341. 01 $ 1, 152, 708. 00 $ 1, 121, 677. 00 $ ( 31, 031. 00) $ 1, 091, 007. 00 OPERATING EXPENDITURES 1, 110, 113. 72) $ ( 1, 499, 562. O ) $ ( 1, 366, 584. 00) $ 132, 978. 00 $ ( 1, 207, 733. 00) NET REVENUE over EXPENDITURES 267, 227. 29 $ ( 346, 854. 00) $ ( 244, 907. 00) $ 101, 947. 00 $ ( 116, 726. 00) YEAR END CARRYOVER 563, 355. 90 $ 216, 501. 90 $ 318, 448. 90 $ 101, 947. 00 $ 201, 722. 90 Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED RESERVE( 10% of Revenues) 137, 734. 10 $ 115, 270. 80 $ 112, 167. 70 $ ( 3, 103. 10) $ 109, 10070 Funds Available 425, 621. 80 101, 231. 10 $ 206, 281. 20 $ 105, 050. 10 $ 92, 622. 20 TOTAL- OTHER APPROPRIATIONS/ RESERVES 563, 355. 90 $ 216, 501. 90 $ 318, 448. 90 $ 101, 947. 00 $ 201, 722. 90 57 Town of Snowmass Village Group Sales Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 201, 722. 90 $ 237, 388. 90 $ 294, 847. 90 $ 374, 189. 90 OPERATING REVENUES 1, 114, 662. 00 $ 1, 147, 742. 00 $ 1, 181, 814. 00 $ 1, 216, 908. 00 OPERATING EXPENDITURES 1, 078, 996. 00) $ ( 1, 090, 283. 00) $ ( 1, 102, 472. 00) $ ( 1, 115, 089. 00) NET REVENUE over EXPENDITURES 35, 666. 00 $ 57, 459. 00 $ 79, 342. 00 $ 101, 819. 00 YEAR END CARRYOVER 237, 388. 90 $ 294, 847. 90 $ 374, 189. 90 $ 476, 008. 90 Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED RESERVE ( 10% of Revenues) 111, 466. 20 $ 114, 774. 20 $ 118, 181. 40 $ 121, 690. 80 Funds Available 125, 922. 70 $ 180, 073. 70 $ 256, 008. 50 $ 354, 318. 10 TOTAL- OTHER APPROPRIATIONS/ RESERVES 237, 388. 90 $ 294, 847. 90 $ 374, 189. 90 $ 476, 008. 90 58 Group Sales Fund Revenues and Expenditures 2010 3, 000 — 2, 500 Operating Revenues Operating Expenditures 2, 000 3 1, 500 0s 1, 500 1, 367 1, 153 1, 122 1, 091 $ 1, 208 H 1, 000500 2009 Budget 2009 Revised 2010 Budget 59 Group Sales Fund Revenues Budget 2009 Budget 1 , 152, 708 Lodging Taxes 18, 701) Based on Y- T- D collections Comparisons- Other Accounts 12, 330) 2009 Revised Budget $ 1, 121 , 677 2 00 9 Budget to 2009 Revised Expenditures2009 Budget 1, 499, 562 Marketing 30, 000) Budget Cuts Collateral Production 17, 000) Budget Cuts Client Interaction 70, 000) Trade shows/ FAM Trips/ Public Relations Other Accounts 15, 978) 2009 Revised Budget $ 1, 366, 584 60 Revenues Group Sales 2009 Budget 1 , 152, 708 Fund B u d g e t Lodging Tax 18, 701) 2010 is a 0% increase over 2009 revised Bedford Lease 30, 000) Lease Expires Comparisons- Other Accounts 13, 000) 2010 Proposed Budget $ 1 , 091 , 007 2009 Budget to 2010 Proposed Expenditures2009 Budget 1 , 499, 562 Bedford Lease 90, 000) Lease Expires Marketing 127, 000) Decrease in budget for print ads/ collateral production/ internet Client Interaction 75, 000) Trade shows/ FAM Trips/ Public Relations Other Accounts 171 2010 Proposed Budget $ 1 , 207, 733 61 TOWN OF SNOWMASS VILLAGE HousingFund r 62 Town of Snowmass Village Housing Fund Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER 926, 548. 00 $ 788, 030. 00 $ 856, 595. 00 $ 68, 565. 00 $ 879, 503. 00 OPERATING REVENUES 1, 242, 788. 00 $ 1, 268, 140. 00 $ 1, 247, 712. 00 $ ( 20, 428. 00) $ 1, 243, 260. 00 OPERATING EXPENDITURES 612, 423. 00) $ ( 635, 764. 00) $ ( 611, 204. 00) $ 24, 560. 00 $ ( 612, 818. 00) DEBT SERVICE 549, 200. 00) $ ( 548, 600. 00) $ ( 548, 600. 00) $ 551, 000. 00) NET REVENUE over EXPENDITURES 81, 165. 00 $ 83, 776. 00 $ 87, 908. 00 $ 4, 132. 00 $ 79, 442. 00 Capital Reserves Used 42, 390. 00) $ 52, 497. 00) Interior Renovations 108, 728. 00) $ ( 269 256. 00) $ ( 265, 000. 00) $ 4, 25600 $ Transfer in- Mountain View I 200, 000. 00 $ 200, 000. 00 $ YEAR END CARRYOVER 856, 595. 00 $ 802, 550. 00 $ 879, 503. 00 $ 76, 953. 00 $ 906, 448. 00 Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Bond Reserve Fund 300, 000. 00 $ 300, 000. 00 $ 300, 000. 00 $ Capital Reserve Fund 300, 000. 00 212, 530. 00 $ 253292. 00 $ 253, 292. 00 $ 236, 750. 00 Unappropriated Funds 344, 065. 00 249. 258. 00 $ 326, 211. 00 $ 76, 953. 00 $ 369, 698. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 856, 595. 00 $ 802, 550. 00 $ 879, 503. 00 $ 76, 953. 00 $ 906, 448. 00 63 Town of Snowmass Village Housing Fund Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 906, 44600 $ 957, 74600 $ 1, 000, 155. 00 $ 1, 122, 725. 00 OPERATING REVENUES 1, 266, 120. 00 $ 1, 288, 98900 $ 1, 312, 167. 00 $ 1, 335, 59500 OPERATING EXPENDITURES 643, 412. 00) $ ( 643, 120. 00) $ ( 615, 245. 00) $ ( 629, 79900) DEBT SERVICE 551, 000. 00) $ ( 553, 600. 00) $ ( 548, 400. 00) $ ( 550, 800 00) NET REVENUE over EXPENDITURES 71, 708. 00 $ 92, 269. 00 $ 148, 522. 00 $ 154, 996. 00 Capital Reserves Used 20, 410. 00) $ ( 49, 860. 00) $ ( 25, 952. 00) $ ( 67, 826. 00) Interior Renovations Transfer in - Mountain View I YEAR END CARRYOVER 957, 746. 00 $ 1, 000, 155. 00 $ 1, 122, 725. 00 $ 1, 209, 895. 00 Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Band Reserve Fund 300, 000. 00 $ 300, 000. 00 $ 300, 000. 00 $ 300, 000. 00 Capital Reserve Fund 250, 837. 00 $ 232, 048. 00 $ 240, 263. 00 $ 203, 495. 00 Unappropriated Funds 406, 909. 00 $ 468, 107. 00 $ 582, 462. 00 $ 706, 400. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 957, 746. 00 $ 1, 000, 155. 00 $ 1, 122, 725. 00 $ 1, 209, 895. 00 64 Housing Fund Revenues and Expenditures 2010 1, 400 1, 268 1, 184 1, 248 1, 243 1, 200 1, 160 1, 164 1, 000 OperatingRevenues 800 OperatingExpenditures 6 0s Debt Service r 600400 —- 200 2009 Budget 2009 Revised 2010 Budget 65 Housing Fund Revenues Budget 2009 Budget 1 , 268, 140 Interest Income 24, 578) Decline in interest rates Comparisons- Pent 2, 850 Based on collections Other Accounts 1, 300 2009 Budget to 2009 Revised Budget $ 1 , 247, 712 2009 Revise d Expenditures2009 Budget 1 , 184, 364 Utilities- V. N. Gas/ Bru Crk $ 25, 450) Decrease in utility costs Other Accounts 890 2009 Revised Budget $ 1 , 159, 804 66 Housing Fund Revenues Budget 2009 Budget 1 , 268, 140 Interest Income 20, 000) Decline in interest rotes Comparison s Other Accounts 4, 880) 2009 Budget to 2010 Proposed Budget $ 1 , 243, 260 2010 Proposed Expenditures2009 Budget 1 , 184, 364 Painting 22, 000 Brush Creek Painting 36, 000) Villas North Other Accounts 6, 546) 2010 Proposed Budget $ 1, 163, 818 67 TOWN OF SNOWMASS VILLAGE Mountain View Fund 68 Town of Snowmass Village Mountain View Fund Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER 1, 891, 086. 00 $ 1, 948, 311. 00 $ 2, 007, 607. 00 $ 59, 296. 00 1, 887, 570. 00 OPERATING REVENUES 1, 007, 388. 00 $ 1, 034, 460. 00 $ 980, 733. 00 $ ( 53, 727. 00) $ 1. 001, 160. 00 OPERATING EXPENDITURES 299, 843. 00) $ ( 323, 267. 00) $ ( 346, 960. 00) $ ( 23, 69100) $ ( 375, 430. 00) DEBT SERVICE 549, 810. 00) $ ( 553, 810. 00) $ ( 553, 810. 00) $ 551, 360. 00) NET REVENUE over EXPENDITURES 157, 735. 00 $ 157, 383. 00 $ 79, 963. 00 $ ( 77, 420. 00) $ 74, 370. 00 Capital Reserves Used 41, 214. 00) $ 5, 450. 00) Transfer out- Housing Renovations 200, 000. 00) $ ( 200, 000. 00) $ YEAR END CARRYOVER 2, 007, 607. 00 $ 1, 905, 694. 00 $ 1, 887, 570. 00 $ ( 18, 124. 00) $ 1, 956, 490. 00 Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Bond Reserve Fund 528 00000 $ 528, 000, 00 $ 528, 000. 00 $ 528, 000, 00 Capital Reserve Fund 336, 45900 $ 365, 418. 00 $ 398, 07400 $ 32, 65600 $ 452, 441. 00 Unappropriated Funds 1, 143, 148. 00 $ 1, 012, 276. 00 $ 961, 496. 00 $ ( 50, 780. 00) $ 976, 049. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 2, 007, 607. 00 $ 1, 905, 694. 00 $ 1, 887, 570. 00 $ ( 18, 124. 00) $ 1, 956, 490. 00 69 Town of Snowmass Village Mountain View Fund Budget Summary Reveries over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 1, 956. 490. 00 $ 1, 554, 623. 50 $ 1, 654, 022. 00 $ 1, 763, 933. 00 OPERATING REVENUES 1, 018, 200. 00 $ 1, 035. 256. 00 $ 1, 052, 329. 00 $ 1, 070, 379. 00 OPERATING EXPENDITURES 430, 946. 00) $ ( 383, 710. 00) $ ( 389, 608. 00) $ ( 395, 715. 00) DEBT SERVICE 552, 547. 50) $ ( 552, 147. 50) $ ( 552, 810. 00) $ ( 553, 810. 00) NET REVENUE over EXPENDITURES 34, 706. 50 $ 99, 398. 50 $ 109, 911. 00 $ 120, 854. 00 Capital Reserves Used 436, 573. 00) $ Transfer out- Housing Renovations YEAR END CARRYOVER 1, 554, 623. 50 $ 1, 654, 022. 00 $ 1, 763, 933. 00 $ 1, 884, 767. 00 Appropriations/ Reserves of the Yeor End Corryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Bond Reserve Fund 528, 000. 00 $ 528 000. 00 $ 528, 000. 00 $ 528, 000. 00 Capital Reserve Fund 40 066. 00 $ 106, 374. 00 $ 172, 682. 00 $ 243, 190. 00 Unappropriated Funds 986, 557. 50 $ 1, 019, 648. 00 $ 1, 063, 251. 00 $ 1, 113, 597. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 1, 554, 623. 50 $ 1, 654, 022. 00 $ 1, 763, 933. 00 $ 1, 884, 787. 00 40 70 Mountain View Fund Revenues and Expenditures 2010 1, 400 1, 200 Operating Revenues 1, 034 1, 001 Operating Expenditures 6', 1, 000 981 927 Debt Service 8n 901 Transfers Out 800 0LC 600400200 200 200 s- 2009 Budget 2009 Revised 2010 Budget 71 Revenues Mountain View 2009 Budget 1 , 034, 460 Fund Budget Interest Income 51, 135) Decline in interest rates Comparisons- Other Accounts 2, 592) 2009 Budget to 2009 Revised Budget $ 980, 733 2009 Revised Expenditures2009 Budget 877, 077 Other Accounts 23, 693 2009 Revised Budget $ 900, 770 72 Mountain View Revenues2009 Budget 1 , 034, 460 Fund Budget Interest Income 42, 000) Decline in interest rates Comparisons- Other Accounts 8, 700 2009 Budget to 2010 Proposed Budget $ 1 , 001 , 160 2010 Proposed Expenditures2009 Budget 877, 077 Payroll Q Benefits 69, 109 Adjusted to 2009 Revised amounts d, IfOther Accounts 19, 396) 2010 Proposed Budget $ 926, 790 73 TOWN OF SNOWMASS VILLAGE U.. yE I Mountain View 11 h, 111 q IL IA Ali Fund 74 Town of Snowmass Village Mountain View II Fund Budget Summary Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER 133, 641. 00 $ 122, 881. 00 $ 124, 682. 00 $ 1, 801. 00 150, 846. 00 OPERATING REVENUES 240, 781. 00 $ 247, 46500 $ 244, 781, 00 $ ( 2, 684. 00) $ 245, 415. 00 OPERATING EXPENDITURES 90, 273 00) $ ( 77, 018 00) $ ( 63, 212. 00) $ 13, 806. 00 63, 733. 00) DEBT SERVICE 159, 467. 00) $ ( 155, 405. 00) $ ( 155, 405. 00) $ 150, 705 00) NET REVENUE over EXPENDITURES 8, 959. 00) $ 15, 042. 00 $ 26, 164. 00 $ 11, 122. 00 30, 977. 00 Transfer In- Mountain View I Capital Reserves Used YEAR END CARRYOVER 124, 682. 00 $ 137, 923. 00 $ 150, 846. 00 12, 923. 00 181, 823. 00 Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Capital Reserve Fund 53, 115. 00 65, 625. 00 $ 67 476. 00 $ 1, 85100 81, 837. 00 Unappropriated Funds 71, 567. 00 $ 72, 298. 00 $ 83, 370. 00 11, 072. 00 99, 986. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 124, 682. 00 $ 137, 923. 00 $ 150, 846. 00 $ 12, 923. 00 181, 823. 00 75 Town of Snowmass Village Mountain View II Fund Budget Summary Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER 181, 823. 00 $ 184, 98500 $ 210, 46300 $ 203, 24000 OPERATING REVENUES 249, 548. 00 $ 253, 682 00 $ 257, 817. 00 $ 261, 955. 00 OPERATING EXPENDITURES 67, 566. 00) $ 68, 134. 00) $ ( 76, 305. 00) $ 71, 152. 00) DEBT SERVICE 155, 905. 00) $ ( 155, 57000) $ ( 159, 935. 00) $ ( 158, 560. 00) NET REVENUE over EXPENDITURES 26, 077. 00 $ 29, 978. 00 $ 21, 577. 00 $ 32, 243. 00 Transfer In- Mountain View I Capital Reserves Used 22, 915. 00) $ 4, 500. 00) $ ( 28, 800. 00) $ 1, 400. 00) YEAR END CARRYOVER 184, 985. 00 $ 210, 463. 00 $ 203, 240. 00 $ 234, 083. 00 Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Capital Reserve Fund 71, 158. 00 $ 80, 081. 00 $ 58, 650. 00 $ 72, 519. 00 Unappropriated Funds 113, 827. 00 $ 130, 382. 00 $ 144, 590. 00 $ 161, 564. 00 TOTAL- OTHER APPROPRIATIONS/ RESERVES 184, 985. 00 $ 210, 463. 00 $ 203, 240. 00 $ 234, 083. 00 Mountain View II Fund 76 Revenues and Expenditures 2010 1, 000800 Operating Revenues Operating Expenditures 6 600 Debt Service vCtl7OtC 400 247 $ 232 245 245 219 214 200 2009 Budget 2009 Revised 2010 Budget 77 Mountain View II Revenues Fund Budget 2009 Budget 247, 465 Comparisons- Other Accounts 2, 684) 2009 Budget to 2009 Revised Budget $ 244, 781 2009 Revised Expenditures2009 Budget 232, 423 Utilities- Naturol Gas 14, 175) Decrease in utililty costs Other Accounts 369 v. 2009 Revised Budget $ 218, 617 Mountain View II 78 Revenues Fund Budget 2009 Budget 247, 465 Comparisons- Other Accounts 2, 050) 2010 Proposed Budget $ 245, 415 2009 Budget to 2010 Proposed Expenditures2009 Budget 232, 423 Utilities- Natural Gas 13, 225) Decrease in utililty costs Other Accounts 4, 760) 2010 Proposed Budget $ 214, 438 9 TOWN OF SNOWMASS VILLAGE Capital ImprovementsProjects Fund 80 Town of Snowmass Village Capital Improvement Projects Fund Revenues over Expenditures 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED BEGINNING CARRYOVER 1, 679 422. 54 $ OPERATINGREVENUE5 5, 901, 223. 54 $ 811, 357. 00 $ 608, 236. 00 $ ( 203, 121. 00) $ 30, 00000 OPERATING EXPENDITURES 7, 580, 646. 08) $ ( 811, 357. 00) $ ( 608, 236. 00) $ 203, 121. 00 $ ( 30, 000. 00) NET REVENUE over EXPENDITURES 1, 679, 422. 54) $ YEAR END CARRYOVER Appropriations/ Reserves of the Year End Carryover 2008 2009 2009 2009 2010 Actual BUDGET REVISED Variance PROPOSED Funds AvailableTOTAL- OTHER APPROPRIATIONS/ RESERVES 81 Town of Snowmass Village Cat) ital Improvement Projects Fund Revenues over Expenditures 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED BEGINNING CARRYOVER OPERATING REVENUES 30, 000. 00 $ 30, 000. 00 $ 2, 530 000. 00 $ 15, 930, 000. 00 OPERATING EXPENDITURES 30, 000. 00) $ 30, 000. 00) $ ( 2, 530, 000. 00) $ ( 15, 930 000. 00) NET REVENUE over EXPENDITURES YEAR END CARRYOVER Appropriations/ Reserves of the Year End Carryover 2011 2012 2013 2014 PROPOSED PROPOSED PROPOSED PROPOSED Funds AvailableTOTAL- OTHER APPROPRIATIONS/ RESERVES 82 Legend1 Budget Number Only- Program TBD 2 Budget based on Conceptual Plan 4 Budget revised to reflect actual bids Carryover from previous year f 2, 400, 186 1, 626, 650 8, 776, 574. 95 1, 679, 423 0 PROJECT 2004 Actual 2005 Actual 2006 Actual 2007 Actual 2008 Actual 2009 ENTRYWAY CIVIL 169, 638. 74 3, 039, 763. 54 838, 445. 35 432, 521. 24 ROUNDABOUTENTRYROADIMPROVEMENTSRODEO PARK AND RIDE 393, 310. 00 464, 706. 13 694, 313. 63 TRANSIT CENTER 1, 022, 630. 70 1, 487, 336. 83 694, 31163 ENTRY TRANSIT& WELCOME CENTER 216, 190. 60 0. 00 REC POOUFITNESS/ GYM ADDITION 29, 512. 50 1, 639, 543. 19 POOL 2, 658, 032. 58 6, 613. 03 FITNESS CENTER 2, 397, 543. 59 RECREATION CENTER EXPANSION 552, 941. 95 3, 236, 453. 19 5, 055, 576. 17 559, 554. 98 ENTRYWAY PARK IMPROVEMENTS 107, 611. 61 455, 331. 81 649, 355. 26 1, 568, 104. 83 2, 021, 263. 98 392, 534 PARKS/ TRAILS 66, 119. 00 715. 474. 26 1, 568. 104. 83 EVENTS ARENA 0. 00 ENTRYWAY EMP HSG 45, 304. 83 856, 922. 82 1, 875, 554. 79 806, 306. 17 153, 702 83 Legend1 Budget Number Only- Program TBO 2 Budget based on Conceptual Plan 3 Budget revised to reflect detailed plans 4 Budget revised to reflect actual bids Carryover from previous year s0 So so f0 0 PROJECT 2010 2011 2012 2013 2014 TOTAL Sources for 2008 Proposed ENTRYWAY CIVIL 0, 369 REFT 3780. 369. SLC 360, 000: SKI 00350. 000. ROUNDABOUTENTRYROAD IMPROVEMENTS 4, 480, 389 RODEO PARK AND RIDE 1. 552, 330 RETT 1. 551, 330 TRANSITCENTER 1, 022, 631 REIT 1, 022, 631 ENTRY TRANSIT B WELCOME CENTER 216, 191 RE1T216, 191 REC POOUFITNESS/ GYM ADDITION 1, 869056 Rec 80141. 500. 000; ease VIR 1. 000, 315: Paol Emtl; 536, 810: RETT 1. 89x, 083 POOL 2. 664, 646 FITNESS CENTER 2. 397, 544 RECREATION CENTER E3PANSION 3, 789. 395 Rec Bond 1. 514456: RER$ 2. 274. 937 10, 720, 640 ENTRYWAY PARK IMPROVEMENTS 5. 194, 201 RETTSAVJ8; L06ay 120. 000; Gen Find 107, 612 PARKSrTRALS 66, 119 5. 260, 320 EVENTS ARENAENTRYWAY EMP IISG 3, 737, 791 rxsrse 7x. 003737. 791 SEVEN STAR ACQUISITION 10, 000 5LC5. W(). K 005, 000 84 Legend1 Budget Number Only- Program TBD 2 Budget based on Conceptual Plan 4 Budget re1fised to inflect actual bids Carryover from previous year $ 2, 400, 188 7, 626, 650 8, 776, 574. 95 1, 679, 423 0 PROJECT 2004 Actual 2005 Actual 2006 Actual 2007 Actual 2008 Actual 2009 OTHER PROJECTS BRUSH CREEK ROAD/ OWL CREEK RD TRAIL ADDITIONS 47, 092. 43 39, 480. 92 82, 046. 10 50, 098. 60 50. 019. 48 30, 000 BUS STOP IMPROVEMENTS 102, 132. 85 117, 007. 44 46, 595. 60 425. 00 HIGHLINE ROAD TRAIL BRUSH CREEK ROAD LANDSCAPING 19, 134. 18 81, 590. 19 UPPER LOT LANDSCAPING 55, 595. 00 MOUNTAIN VIEW TRAIL DESIGN WOOD RD. ROUND/ BRIDGE 1, 376, 848. 38 0. 00 BRUSH CREEK STREAM RESTORATION 1, 014, 230. 85 204, 951. 27 TOWN HALL- Design and FF& E 651, 573. 38 451, 421. 45 74, 939. 31 Construction 570, 980. 76 7, 205, 825. 33 425, 341. 86 PARKS/ TRAILS BUILDING DESIGN MALL TRANSIT 79. 028. 72 126. 011. 73 4, 300. 00 EMPLOYEE HOUSING- Draw Site 34, 540. 90 32, 050 ' UPPER KEARNS UTILITY PROJECT 143, 797. 05 204. 60 Transfer out- Debt Service- Town Hall ( CAP 1) 340, 072. 39 352, 336. 87 Transfer out- Debt Service- Rec CV( CAP I) 127. 577. 78 Transfer out- General Fund ( Town Hall end balance) 252, 640. 91 Transfer out- Excise Tax Fund ( Upper Kearns) 11, 163. 17 W10 A/R- Mall Transit( Westpac) 26, 000. 00 Transfer out- Debt Service- Pool 29, 075. 00 Pool- Bond Issuance 57, 162. 09 Rec Ctr- Bond Issuance 106, 771. 90 2, 645. 00 Town Hall Bond Issuance 281. 761. 08 Bank Fees- Town Hall 162. 18 2, 000. 00 TOTAL COSTS 372, 586. 48 3, 144, 346. 11 13, 523 233. 70 16 477 804. 44 7. 580, 646. 08' 608 236 85 Legend1 Budget Number Only- Program TBD 2 Budget based on Conceptual Plan 3 Budget revised to reflect detailed plans a Budget revised to reflect actual bids Carryover from previous year so 0 so 0 0 PROJECT 2010 2011 2012 2013 2014 TOTAL Sources for 2008 Proposed OTHER PROJECTS BRUSH CREEK ROAD/ OWL CREEK RD TRAIL ADDITIONS 30, 000, 1 30, 000. 1 30, 000 r 30 MO 30, 000 ri 448, 738r 44e, 7N BUS STOP IMPROVEMENTS 266, 161 P 266. 161 HIGHLNE ROAD TRAIL BRUSH CREEK ROAD LANDSCAPING 100, 724 FETT mo. 724 UPPER LOT LANDSCAPING 55, 595 RETT 65. sas MOUNTAIN VIEW TRAIL DESIGN WOOD RD. ROUND EIRIDGE 1. 376, 848 1, 376, 646 atTrrOO has aeer pixtcn a wms BRUSH CREEK STREAM RESTORATION 1, 219, 182 Sou, vp ea0, aod: RETr419. 1112 TOWN HALL- Design and FFSE 1, 177, 934 t. tn 931 Gen FUnd Canslution 8. 202, 148 a. aaa. IQ ccRrrc: RETT 113. aaa PARKS/ TRAILS BUILDING DESIGN MALL TRANSIT 13, 400. 000 1 13, 609. 340 SIX 6. 411, 116: FTA T. Oa0, O0graere 92, 346: RETT lasers EMPLOYEE HOUSNG- Dmw Site 2500, 000, 1 2, 500. 000 1 5. 066. 541 mm msuelGCNTa Fntl UPPER KEARNS URLrrY PROJECT 144, 002 Gu1Rwd 72, 001: FZcme TU 72, 01 Transfer out- Debt Service- Twn Hall ( CAP 0 692, 409 Transfer out- Debt Service- Rec Cir( CAP 1) 127, 578 Transfer out- Genaral Fund ( Tam Hall and balance) 252, 641 Transfer out- Excise Tax Fund ( Upper Kearns) 11, 163 W10 AIR- Mali Transit( Weslpac) 26, 000 Tramferoul- Debl Service- Pod 29, 075 Pool- Bond Issuance 57, 162 Rec Ct Bcnd Issuance 109, 417 Town Hall Bond Issuance 281, 761 Bank Fees- Tam Hall 2, 162 TOTAL COSTS 30. 000 30, 000 30. 000 2, 530. 000 15. 930, 000 60, 256. 853 86 FUNDING SOURCES 2004 Actual 2005 2006 Actual 2007 Actual 2008 Actual 2009 RETT 149, 225. 28 1, 249, 498. 09 6, 469, 854. 00 5, 004, 299. 22 4, 800, 185. 09 422, 534 RETT- TRANSIT PLAZA 39, 029. 00 66, 851. 18 4, 300. 00 RETT- TOWN HALL 113, 000. 00 GENERAL FUND 107, 611. 61 595, 000. 00 735, 000. 00 GENERAL FUND 83, 164. 00 EXCIS E TAX FUND 83, 164. 00 COP- TOWN HALL 8, 515, 000. 00 EXCISE TAX FUND 45, 304. 83 856, 922. 82 1, 875, 554. 79 153, 702 BOND ISSUE- POOL& REC CENTER EXPANSION 2, 320, 001. 00 3, 145, 000. 00 BOND ISSUE/ EXCISE TAX FUND 840, 847. 07 32, 000 BASE VILLAGE 1, 000, 000. 00 800, 000. 00 SKI COMPANY 355, 000. 00 SNOWMASS LAND COMPANY 355, 000. 00 FTA 5311 GRANT EOTC 11, 115. 55 CONTRIBUTIONS 40, 000. 00 48, 045. 00 FTA 5309 GRANT LOTTERY 120, 000. 00 CORE GRANT 40, 000. 00 Interest- Rec Center 51, 623. 31 79, 005. 85 13, 147. 17 Interest- Fitness Center 344. 57 28, 672. 16 Interest- COP- Town Hall 35, 695. 69 252, 849. 09 9, 744. 21 CAP I- Town Hall 341, 603. 35 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 9, 360, 652. 03 5, 901 22154 608, 236 Ending Balance 2, 400, 188. 02 $ 1, 626, 649. 61 8, 776, 574. 95 $ 1, 679, 422. 54 0 o 87 FUNDING SOURCES 2010 2011 2012 2013 2014 TOTAL RETT 30, 000 30, 000 30, 000 30, 000 30, 000 18, 245, 596 RETT- TRANSIT PLAZA 110, 180 RETT- TOWN HALL 113, 000 GENERAL FUND 1, 437, 612 GENERAL FUND 83, 164 EXCISE TAX FUND 83, 164 COP- TOWN HALL 8, 515, 000 EXCISE TAX FUND 2, 931, 484 BOND ISSUE- POOL& REC CENTER EXPANSION 5, 465, 001 BOND ISSUE/ EXCISE TAX FUND 2, 500, 000 2, 500, 000 5, 872. 847 BASE VILLAGE 1, 800, 000 SKI COMPANY 355, 000 SNOWMASS LAND COMPANY 355, 000 FTA 5311 GRANT EOTC 6, 400, 000 6, 411, 116 CONTRIBUTIONS 88, 045 FTA 5309 GRANT 7, 000, 000 7, 000, 000 LOTTERY 120, 000 CORE GRANT 40, 000 InteresERec Center 143, 776 Interest- Fitness Center 29, 017 Interest- COP- Town Hall 298, 289 CAP I- Town Hall 341, 603 Interest Bond Fund- Pod 314, 151 Recreation Center( bond premium) 103, 808 TOTAL SOURCES 30. 000 30, 000 30, 000 2, 530, 000 15, 930, 000 60, 256, 853 Ending Balance 0 0 0 0 0 SO) i CD rn 00