HomeMy WebLinkAboutagenda.council.special.20111003 THE CITY OF ASPEN
Memorandum
To: Mayor and Council Members
From: Steve Barwick, City Manager
CC: Agency Heads
Date: September 21, 2011
Re: 2012 Proposed Budget
The proposed 2012 operating and capital budget is provided for your review and amendment. During 2011 and
looking forward to 2012, the City's revenue sources seem to have settled into their range of the new normal and
are showing modest growth over their recessionary lows. Sales and accommodations taxes should be up at least
4% in 2011 and are forecast to continue a modest recovery through 2012. Revenue sources related to real
estate and building activity (use tax, building permits, real estate transfer tax and tap fees) have leveled out after
deep recessionary declines. Revenues generated from building activity are expected to be at depressed levels for
years to come, however a recent change to the planning and engineering development fee schedule has partially
offset the decline in fee revenue.
City staff is committed to maintaining service levels at the highest rate possible. The proposed budget is shown
in detail in the following sections of this document and is organized by the various operating funds of the City. A
summary of the total 2012 budget is shown below.
City of Aspen
2012 Recommended Budget
2011 2012
Original Recommended
Budget Budget Variance %Change
Revenues 586,943,310 $93,466,974 $6,523,664 7.5%
Operating $47,469,980 $50,108,280 52,638,300 5.6%
Capital Outlay $13,809,990 514,690,300 $880,310 6.4%
Debt Service 54,954,570 $5,293,160 $338,590 6.8%
Net Appropriations $66,234,540 $70,091,740 53,857,200 5.8%
Interfund Transfers $18,603,150 $18,224,700 J$378,450) 2.0%
Total Appropriations $84,837,690 588,316,440 53,478,750 4.1%
Ending Fund Balance 566,296,633 $78,494,285 $12,197,652 18.4%
The total budget authority is proposed to increase by 4.1% for 2012.
Operating Budget Assumptions:
Payroll and Staffing Plan
Maintaining a competitive pay plan is important for the City to continue to attract and retain professional,
competent employees. The proposed budget assumes that a 4.0% merit pay plan will be implemented. The
City has not given any merit based pay increases for the last two years, but did approve a 2% cost of living
adjustment for all employees in August of 2011. The 4% merit plan will actually only cost less than 2% of total
payroll in 2012 as we are transitioning from no merit plan in the prior year. Employees receive their merit
adjustments on their anniversary date which are spread out through the year. Health insurance contributions by
the city will increase by 8% for 2012; however that will not be enough to completely cover the estimated cost
increases. Employee contributions to their health plan are estimated to increase 8% to 12% as well as changes in
coverage to the premium plan.
The budget proposes the addition of four new positions (Three FTE) in 2011. These were all positions that we cut
in 2009/2010 and are as follows:
• Community Development: Administrative Assistant
• Engineering: Project Manager (split with Stormwater)
• Police: Administrative Sergeant
• Human Resources: Administrative Assistant (Half)
Operating Budgets
Most departmental operating budgets were given a target of 102.0% of their 2011 operating budget for 2012.
There are some minor supplemental requests that were included for 2012 and are detailed in Attachment A.
The proposed operating budgets for each fund are shown in Attachment B. The various variables and
assumptions that were used in putting this budget proposal together are shown in attachment C.
Revenue Assumptions:
Sales Tax
While the City's consumption based taxes showed strong growth from 2004 to 2007, they was a significant
decrease in 2009 due to the recession. Sales tax saw modest growth in 2010 and again in 2011. The following
chart shows the historic trend for sales tax and the forecast for 2011- 2021. A 4% increase is forecast for 2012,
and 4% increase a year each year after that. Based on these parameters, sales taxes, adjusted for inflation, will
not return to 2008 levels until well into the future.
Page 2
Retail Sales Tax Collections
516,000,000 1 2003 - 2021 Projected
514,000,000
512,000,000
510,000,000 — —
58,000,000 - --
56,000,000
54,000,000 , T
P o° °°y °°� d5'‘ °°P °°o' °ti e e e ° , y p, °ti p, 0 ° e e e °1y'
° 'b L L L L L ' 1. L 'L 1. 1. 1. 'Y 1, 1.
— .-City Collections —M—City Adj. Inflation
Real Estate Transfer Tax
The City's real estate transfer tax has been declining precipitously over the last several years although the tax
was perhaps inflated from several large one time transactions. It would seem that the transfer tax collections
have returned to a long term historic level. In the near term the tax is expected to be relatively flat.
Housing Real Estate Transfer Tax
512,000,000 — 1990 - 2020 Projected
510,000,000 --
$8,000,000 -
56,000,000
$4,000,000
$2,000,000 ' - r
$o -
� 4 \'C ,t ' Aq 4 7 C ;\ 0
0 � � 0 0 0 ti 0 � y0 3 C P' \ .) O N g 0 o) 1 � 1 ti 1 � 1 3 ti D' 1 h ti `" NI' 4,19
ti o� ti o� y o i ti o� y' 0 1 oi N o d o y o i d o o d o � o , L o � o d o L O , t o d o , , L o ,� O o o y' 0 d o
-* f Projected RETT — Linear (RETT)
Page 3
Property Taxes
There was a dramatic decrease in assessed valuations based on the 2010 reassessment. The City of Aspen's mill
levy has always been subject to TABOR and therefore cannot generate property tax revenue that is any more
than the prior year plus an allowance for new construction and inflation. The city imposed a temporary mill levy
credit in past years in order to limit its property tax collection to no more than what would be allowed under
TABOR. There was no windfall to the City of Aspen due to the increase in assessments in prior years. In 2012 will
decrease the amount of mill levy credit so that once again, no more is collected than allowed under TABOR.
The City currently allocates its property tax 47% to the General Fund and 53% to the Asset Management Fund.
4 The City still has not received final assessed valuations for 2012. The chart below is based on an estimate for
what we expect for new construction. When the final valuations are released in October we will calculate the
new mill levy and bring it to the City Council.
Property Tax Collections
2005 - 2021 Projected
58,000,000 —
57,000,000 -
5
II I 1 1 1
.... , .. , ... ,
54,000,000
53,000,000 111111111111111
52,000,000 111111111111111111111
51, 000, 000 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
50 111 11111111111
is) is) tipp� tipper 1ppp tip1p tipy1 is) is) tip1a is) i9 i5 -s) i s) ,
• TABOR • Base Tax
Major Proposals
While the current economic conditions are still difficult, a budget has nevertheless been crafted that allows the
city to pursue important initiatives where possible. There are significant capital investments proposed for 2012.
There are $2.69 million of General Fund capital projects included in this budget proposal. Some of the major
projects are as follows.
Fleet $805,000
Street Overlays $371,000
Curb, Gutter and Sidewalk $305,000
Recreation Improvements $502,400
Ruby Park Concrete Repairs $100,000
New Sales Tax, Business License Software $110,000
IT Improvements $197,500
Summary
I look forward to discussing this in detail with you at the upcoming budget review sessions that are scheduled
through the month of October.
Page 4
Attachment A
Department/Fund Total n Tim O� Justification Offsetting Source
General Fund
Contributions 50 50 $0 Return to the base appropriations of $319,430 x 2%
increase for 2012
City Council $0 $0 50
City Manager $0 $0 $0
Human Resources /Risk $14,000 $0 $14,000 Due to unsustainable workload, HR is requesting: 0.5 FTE $14,000
for an Administrative Assistant - Total cost is $32,000 but
reduced one position from 40 to 32 hours and reduced
operating budget.
City Clerk $0 $0 50
City Attorney $0 50 $0
Finance $0 50 50
Planning 516,000 $0 $16,000 Staff is requesting $16,000 for a part time Code
Enforcement Officer in 2012.
Planning 56,400 $0 $6,400 Staff did not want to decrease operating budget $6,400
to stay in the 2.0% increase, staff requests $8,150 to
increase the existing budget 3% in Planning for supplies,
services, and training.
Planning $125,000 $125,000 $0 Staff is requesting the remaining funding of
5125,000 for public outreach and code updates
after the adoption of the AACP.
Engineering $0 $0 $0
Building $61,300 $0 561,300 Currently .9 of an FTE in Community Development
is funded by Engineering and Asset. Due to
increases in workload, the Asset and Engineering
departments are planning on hiring 2 FTE for 2012
and pulling the funding of the existing .9 FTE
from ComDev. Staff is requesting $61,282 or .9
of an FTE to retain our existing staff.
Building 575,000 $75,000 $0 Due to construction activity increasing, staff is
requesting $75,000 for consultant plan review in
2012. The services will be used to provide
structural, mechanical, plumbing and electrical
contract plan review when needed.
Building 512,500 $0 512,500 ComDev Permit Software Hosting Fee. The cost to
host the software externally will be less
expensive and will provide a higher level of
service than hosting internally. The IT dept
estimated that internal hosting will cost 520,000
for hardware, 54,000 for hardware replacement,
$24,000 for yearly server costs and possible
additional software costs.
Attachment A
sisiss ailasimismaiimmiummin
Deoartment /Fund Total One Tim Tima iQL1L:Ong Justification Offsetting Source
Environmental Health 522,900 522,900 $0 The Environmental Health Department has received 522,900
another radon grant from the Colorado Department
of Public Health and Environment ( CDPHE) to
educate citizens on how to remediate their home
for radon, whether it is a single family home or
multi - family complex. The focus of this year's
radon grant is to demonstrate how a multi - family
complex is fixed to reduce high radon levels and to
provide training for those that would like to fix
their homes themselves. The 522,910 includes a
class for citizens on how to do radon remediation
and one radon remediation installation, as well
as test kits for citizens. All costs will be 100%
reimbursed by CDPHE such that this supplemental
is for revenue and expenditure budget authority
only. This is a one -time request.
Environmental Health 510,000 50 510,000 Temporary help for additional administrated work due to
the fact that the EH and HR share an employee.
Environmental Health $6,000 $0 $6,000 Grass & Leaf Bin Pick Up -The County began charging the
City for grass and leaf bin pickup at the Rio Grande
Recycle Center mid -2011. Based on invoices received so
far for 2011, and 2011 frequency of pickup, the
estimated annual charge will be 56,000. The leaf and
grass drop -off bin is needed at Rio Grande because in
2005, the city adopted a recycling ordinance that
prohibited putting grass and leaves in trash containers
and required them to be composted, mulched, or taken
to the landfill. As a result, the leaf and grass bin fills up
more than once /week in the spring and especially the
fall, because it provides the only option for many
residents. It also avoids having people drive to the landfill
to drop off their leaves, which would create air pollution
and be in conflict
with other city goals.
Environmental Health 54,900 50 $4,900 Request to keep EH base operating budget flat to 2011
levels in 2012.
Environmental Health 563,900 $63,900 50 Payout for retirement.
Environmental Health 57,800 $0 57,800 Reclassification of the Environmental Health Specialist to
Sustainability Program Manager. This request funds this
position in full
Police 5105,400 50 5105,400 Patrol Supervisor is a four year position with grant 5105,400
funding at POI level for the first three years.
Records $0 $0 $0
Streets $0 $0 $0
Special Events 5100,000 $0 5100,000 Pro Cycle Challenge for 2012 and 2013. Same as 2011
contribution.
Recreation (56,100) $0 (56,100) Reduction in utilities due to new facility rate.
Aspen Recreation Center $26,500 50 526,500 Increase in water and electric utility charges based on
the city facility rate. Switching to the City of Aspen
electric system was not supposed to create an increase
to the yearly utility bill.
Aspen Ice Garden $75,000 50 575,000 Increase in water and electric utility charges based on
the city facility rate
Asset Management 50 $0 50
IAll General Fund $726,500 5286,800 $439,700
5142,300
Attachment A
Department /Fund Total One Time Ongoing Justification OffsettingSource
Other Funds
Asset Management Fund 548,300 $0 548,300 Requested by Engineering - 'h FTE Project Manager I, the 548,300
department has not be able to complete the capital
projects. This position will be funded from capital
projects. The other half of the this position is requested
in the Stormwater Fund.
Parks and Open Space 561,000 50 561,000 Starting in 2012, paying City of Aspen for water and
electric utility charges
Parks and Open Space 525,000 50 525,000 Temporary labor request for forestry program
Wheeler Opera House 50 $0 50
City Tourism Promotion $0 50 50
Transportation 50 50 50
Housing Development 50 50 50
Early Childhood Education 50 50 50
Kids First $0 $0 50
Stormwater $6,500 50 $6,500 As a result of adding an admin position, 0.9 is in ComDev
and 0.1 is in Stormwater.
Stormwater 548,300 $0 $48,300 Requested by Stormwater - Y: FTE Project Manager 1, the 548,300
fund has not been able to complete the capital projects.
This position will be funded from capital projects. The
other half of the this position is requested in AMP.
Water Utility 560,000 50 560,000 Starting in 2012, paying Parks and Open Space Fund for
raw water ditch management
Electric Utility 50 $0 50
Renewable Energy 50 $0 50
Parking $0 50 50
Golf Course $0 50 50
Truscott Housing 50 $0 $0
Marolt Housing 50 50 50
Employee Health Insurance $0 50 50
Employee Housing $0 50 50
Information Technology $0 $0 50
Housing Administration $0 50 $0
Smuggler Housing 50 $0 50
$AII Other Funds 5249,100 50 5249,100 I
(Total Supplemental $975,600 5286,800 $688,800 1 1 5238,900 1
Attachment B
TOTAL CITY OF ASPEN 2012 APPROPRIATIONS BY FUND
Forecasted Total Current Total Current 2012 Ending
Fund Name Fund Balance Revenue Budget Expenditure Budget Balance
General Governmental Fund
General Fund 59,330,685 $22,057,400 $22,060,400 59,327,685
Subtotal General Gov't Funds $9,330,685 $22,057,400 $22,060,400 $9,327,685
Special Revenue Governmental Funds
Parks and Open Space Fund 51,708,588 513,007,000 $10,684,800 54,030,788
Wheeler Opera House Fund * 526,650,177 $4,232,494 53,521,200 527,361,471
City Tourism Promotion Fund $124,314 52,123,100 52,247,410 54
Transportation Fund 53,395,172 52,022,900 51,879,100 $3,538,972
Housing Development Fund 59,806,504 57,367,000 $3,574,500 513,599,004
Kids First Fund 53,299,957 51,874,300 $2,003,400 $3,170,857
Stormwater Fund 52,634,690 51,589,300 51,524,600 52,699,390
Subtotal Special Revenue Funds $47,619,402 $32,216,094 $25,435,010 $54,400,486
Debt Service Governmental Fund
Debt Service Fund 5183,367 53,608,460 53,610,730 5181,097
Subtotal Debt Service Fund $183,367 $3,608,460 $3,610,730 $181,097
Capital Projects Governmental Funds
Asset Management Plan Fund 51,985,746 53,219,900 $3,086,700 $2,118,946
Subtotal Capital Fund $1,985,746 $3,219,900 $3,086,700 $2,118,946
Enterprise Proprietary Funds
Water Utility Fund $4,327,049 56,044,100 $7,073,300 53,297,849
Electric Utility Fund 5915,175 $7,437,500 $7,726,900 $625,775
Renewable Energy Fund $2,551,816 $52,200 $1,435,200 $1,168,816
Parking Fund $1,344,016 53,601,020 53,517,600 51,427,436
Golf Course Fund 5169,102 $1,973,000 51,922,100 5220,002
Truscott Housing Fund 51,188,392 $1,793,600 51,528,900 51,453,092
Marolt Housing Fund 5510,679 $863,000 51,197,100 $176,579
Subtotal Enterprise Funds $11,006,229 $21,764,420 $24,401,100 $8,369,549
Internal Proprietary Funds
Employee Health Insurance Fund $500,205 54,648,500 $4,773,000 $375,705
Employee Housing Fund 51,169,820 51,266,100 5222,500 $2,213,420
Information Technology Fund 541,240 53,104,000 53,103,600 541,640
Subtotal Internal Service Funds $1,711,265 $9,018,600 $8,099,100 $2,630,765
Trust Fiduciary Funds
Housing Administration Fund 51,338,699 $1,530,600 51,586,100 $1,283,199
Smuggler Housing Fund $168,358 551,500 537,300 $182,558
Subtotal Trust and Agency Funds $1,507,057 $1,582,100 $1,623,400 $1,465,757
ALL FUNDS $73,343,751 $93,466,974 588,316,440 $78,494,285
Less Interfund Transfers 518,224,700 518,224,700
NET APPROPRIATIONS $73,343,751 575,242,274 570,091,740 578,494,285
* Wheeler Balances shown GAPP basis adjusted
u
Y
C ._....s ....
0)
E
L a
U 0
m O
ry
...1.:r( c N m
rT Q E
0 w
e m G
O ` c O.
V N
M a c
N SC
i « a w y c
T. 0 N = 0 m
N U m tlU
0 N W C C
c m 0 4-, C
3
co E O
c c 3 E
a
c c m w, o , a° u > 0
0
u °\ i a c c to ° c E N
v, -0 c 0 ti 0) v o
o CO h N N O ry _ '—� t., a° o
u _ LE _o m -, O ,.4 ..c .c c . 4
o. H w N *-1 > m -o J y0 0 a m . C
C a
U o ' O ti y W m j 3 O C
d u O >'
` Q a 00 m w
a
a E y ° o_ c z m
0
CO C O c c v o c m t u 0 O.
�— m �+ 0 O` v
> m c v C « E E - - ,Li H
C m q v W E u, a o t o
0 W N N N O 00 C d A N 7 c‘r 2 W N d �' C 'j U O O
7 C Y N C m 4- C
o N° V >' m N - 0 n
C o C >, I CU O ._ 4O a m y
101 c t . N C � v a 0 ' C t ai E s o
E u ry 1- a i E w v d co 'h
E o .. A ° rv * 3 r ac7
R1 m \
U 0. N * * * Z I * * X LLF
..
CA 01 N
N .Y el 0
N \ • .y .4
CO C VD .wi O N
c O O I
Le , N N e .4
. y a°. e m O .4
d O C V t0 b ti N N 11 NI
M v
a
120 N f N N V a N A V O N b \\ O o M o ff' a: La e a O a
CO
el N 'Cr p N N N O* N , r m N M p'! m ry M N M
N in Ln m co 00 O M N ri
N
• " 1 V A Vl .-
O m
.+ 0
N rl .4 M N
`' N O O o e.
.y e c N
O
ID
m N ~ CO • a Cr Cr m M a M N N N `„� • N a in M Ni a W N N M M
N
' V
,
.
in ID
W 0 ry °° °° u ln e • O
•
i a rri o `n ^' .i ^ � .. o • p m v Q j? n u a` i N
LL N O a ` .4 r,... a � .y N M . N N .y .-1 M V
N m
5 -Y (-1
0)
H P C
3 c E c
• J
{ Y Y' r U K N E _ C
0
C
» 0 CO C W N 0 i C 01 C
C dr Q x J °—' r v p > w E v o C J
m O K r m V a O ` CO C 0 0 CU
J C w �' m b0 no V . 0 O w N V K N w N 3 0 C 3 0 N a
,i.. d w m w n o m c E :71; H E v 1.4 O w c c c a $ o o c $ m a o r
O d_ m o o _ . " o u t i0 y w ro o 2 m E x m N a o E E>
a 0. tn 2 3 OU z 3 w w a0 H .e wJM 0 U . w
1 4
THE CITY OF ASPEN
FUND
SUMMARIES
000 - ASSET MANAGEMENT PLAN FUND
2012 Revenues $3,219,900
2012 Expenditures $3,086,700
2012 Estimated Ending Fund Balance $2,118,946
Description
This fund provides for the acquisition, construction and improvement of all major general government facilities owned by the City of Aspen.
Referred to as the AMP fund, capital improvement requests are coordinated, reviewed and planned by the Asset Management Department.
Summary
The primary source of revenue for this fund is a portion of the City's property tax. All property tax funds not needed to support General Fund
operations are provided to fund capital improvements. Changes in property tax revenue from year to year is often a result of a changed
allocation to this fund, not necessarily a change in overall property tax collections. For more information on the General Fund AMP projects,
see Tab 3 "Asset Management Plan."
In November of 2005 the citizens of Aspen authorized the City to collect, retain and expend in budget years 2006 -2010 any property tax that
is in excess of the limits of Article X, Section 20, of the Colorado Constitution, for certain projects. These TABOR projects were completed in
2010.
All General Fund departments budget their capital improvement projects in the AMP Fund. The AMP Fund also provides resources in support
of debt and interfund loan payments for financed capital improvements. There are seven projects greater than $100,000: curb and gutter
replacement, Rubey Park repairs, fleet, street improvements, major maintenance at the ARC, replacement of City's phone system and sales
tax and business license software. These comprise 74% of the total appropriations. Property tax allocation increased from 45% to 53% from
2011 to 2012. This change brings the allocation in line with the historical distribution needed to maintain the capital infrastructure of the City
of Aspen.
Revenues
Red Brick Lease Revenue
Property Tax 3%
94% Other
3%
Expenditures
Property Tax Fees Transfers
2% 11%
General Fund AMP
87%
2012 Proposed Budget - 1
000 - ASSET MANAGEMENT PLAN FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance 55,119,385 $4,489,218 $5,188,282 $4,919,236 51,985,746 (60 %)
Revenues
Property Tax 52,333,647 52,075,197 51,719,217 52,519,000 53,040,000 21%
Tabor Property Tax 51,221,265 51,055,158 5550,288 $0 $0 N/A
Timeshare Mitigation Fees 50 $0 588,484 575,000 $75,000 0%
Fleet Trade In Revenue 571,990 5127,323 $0 $0 50 N/A
Red Brick Lease Revenue $84,000 $84,764 584,714 $85,000 $85,000 0%
Ped. Administration Fees $158,080 $0 5135,000 5541,000 50 N/A
Mckinstry -Lease Fin. Proceeds 50 $0 $276,452 5165,000 $0 N/A
Investment Interest 5349,365 5237,443 590,939 $39,400 519,900 (49 %)
Refund of Expenditure 5362,158 5201,432 5149,468 $0 $0 N/A
Transfers 51,067,840 5149,790 $113,840 521,000
$ N/A
Other
51,500 $243,995 $36,129 565,000 $0 N/A
Total Revenues $5,649,845 $4,175,102 $3,244,532 $3,510,400 $3,219,900 (8 %)
Expenditures
General Fund AMP $4,584,738 $2,414,946 $2,565,205 $5,631,990 52,694,200 (52 %)
TABOR Projects $919,738 $445,507 $655,094 5505,000 50 N/A
Property Tax Fees 5118,089 $62,271 $45,899 $50,400 560,800 21%
Transfers $657,449 5553,314 $247,380 5256,500 $331,700 29%
. Total Expenditures $6,280,014 $3,476,038 $3,513,578 $6,443,890 $3,086,700 (52 %)
Change to Fund Balance ($630,169) $699,064 ($269,046) ($2,933,490) $133,200 N/A
(Ending Fund Balance $4,489,218 $5,188,282 $4,919,236 $1,985,746 $2,118,946 7% I
Property Tax Allocation 50% 42% 32% 45% 53% 18%
:4;.„
fir i , - Nl ;Illy '.. * /y` y. •
•
Rte' _.~ � Of ,. � • .. - ,, t /yp - - I - "� � 0 liF
�� ' C ilk '� • • , • , • , • . .
i L
• -
;.`Al
1 di
2012 Proposed Budget - 2
001 - GENERAL FUND
2012 Revenues $22,057,400
2012 Expenditures $22,060,400
2012 Estimated Ending Fund Balance $9,327,685
Description
The General Fund provides for the operation of the City's general government departments including Administration, Finance, Community
Development, Police, Recreation, Street Maintenance, Information Services and others.
Summary
The largest revenue source is a share of Pitkin County's sales tax. The City also receives other tax sources including a portion of the City's
property taxes and utility taxes. Changes in property tax revenue are mostly a result of changed allocations to this fund. The City also receives
fees: City Clerk, Community Development, Business License, Environmental Health, Police, Recreation and Motor Vehicle Registration.
Overhead represents payments by non - General Fund City departments and Pitkin County departments to reimburse for services rendered by
departments within the General Fund. Interfund transfers include support from the Electric Utility Fund for franchise fees, a transfer from
the Transportation Fund for Use Tax Administration and a transfer in from the Water Utility Fund for its land related to their operations.
Since the General Fund is made up of programs that provide direct governmental services to the City, a large portion of the General Fund
budget is for labor appropriations. Professional Fees include utilities, insurance, repairs and services. Grants and Contributions includes non-
profit grants awarded by a citizen's committee that recommends funding appropriations to City Council.
Revenues
Overhead Transfers
6% Other
18% 3%
Property Tax
Community Development 12%
11%
Other Revenues
11% County Sales Tax
Recreation 30%
9%
Expenditures
Grants and Contributions IT /GIS Overhead
Materials and Supplies 6% 4% Other
5% 8%
Professional Fees
15% Payroll
62%
I I
I
1 2012 Proposed Budget - 3
001 - GENERAL FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 %Chg
Beginning Fund Balance $9,986,602 $8,458,704 57,841,344 $9,508,685 $9,330,685 (2 %)
Revenues
Property Tax $2,330,026 $2,885,421 $3,649,192 $3,082,000 $2,696,000 (13 %)
Timeshare Mitigation Fees $289,584 $164,902 $0 $0 $0 N/A
County Sales Tax $7,035,890 $5,724,719 $6,075,201 $6,318,000 $6,571,000 4%
Recreation $2,256,695 $2,051,840 $1,937,635 $1,950,000 $1,962,000 1%
Other Revenues $3,074,905 $2,522,094 $2,418,512 $2,303,000 $2,349,000 2%
Community Development $2,693,983 51,621,766 51,617,246 $2,320,000 $2,389,000 3%
Investment Interest $615,998 $322,397 $125,568 $76,100 $93,300 23%
Other $0 5221,257 $343,073 $424,600 $588,000 38%
Overhead $3,537,048 $3,536,980 $3,739,697 $3,776,000 $4,036,000 7%
County Reimbursements $840,902 $781,258 $878,322 $0 $0 N/A
Transfers $2,187,240 $1,634,810 $1,602,320 $1,406,500 $1,373,100 (2 %)
Total Revenues $24,862,270 $21,467,444 $22,386,766 $21,656,200 $22,057,400 2%
Expenditures
Payroll $15,809,001 $15,088,599 $14,263,964 $13,171,000 $13,774,000 5%
Travel and Training $567,645 $329,591 $338,519 $446,000 $394,000 (12 %)
Professional Fees $4,651,670 53,241,764 $3,203,710 $3,255,000 $3,279,000 1%
Materials and Supplies $1,286,099 $685,934 $798,113 $1,119,000 $1,088,000 (3 %)
Grants and Contributions $1,272,673 $1,598,308 $1,745,384 $1,203,000 $1,233,000 2%
Supplemental Requests $0 $0 $0 $1,273,100 $726,500 (43 %)
Property Tax Collection Fees $0 $58,059 $73,492 $61,600 $53,900 (13 %)
IT /GIS Overhead $0 $0 $0 $849,000 $908,600 7%
Capital $188,360 $66,958 55,432 $0 $0 N/A
Transfers $2,614,720 $1,015,590 $290,810 $456,500 $603,400 32%
Total Expenditures $26,390,168 $22,084,803 $20,719,425 $21,834,200 $22,060,400 1%
Change to Fund Balance ($1,527,898) ($617,359) $1,667,341 ($178,000) ($3,000) 98%
(Ending Fund Balance $8,458,704 $7,841,344 $9,508,685 $9,330,685 $9,327,685 (0 %) I
Property Tax Allocation 50% 58% 68% 55% 47% (15 %)
I -al_
NsIL r
. I
1 b
i i j
- -."
T -
■ ',
` i /
•
`
NIX
." _ . , ,, , iiii
2012 Proposed Budget - 4
100 - PARKS AND OPEN SPACE FUND
2012 Revenues $13,007,000
2012 Expenditures $10,684,800
2012 Estimated Ending Fund Balance $4,030,788
Description
The Parks and Open Space Fund provides funding for the acquisition, development and maintenance operations of the City's
parks, open space and trails and the payment of debt service related to three parks related debt issues.
Summary
The primary source of revenues is sales tax. The 1% sales tax for Parks and Open Space was approved by the voters in 1971 and
provides revenue annually for parks and open space operations, maintenance and debt service. The 0.5% sales tax for open space
acquisition was approved by the voters in 2001. Additionally, this fund receives impact fees, mitigation revenues, lease payments
and investment interest for parks and open space operations. Other revenue is up 58% mainly due to joint projects with the
County, Theater Aspen and grant revenue. Stormwater is transferring $250,000 to fund a joint project to improve the Rio Grande
Park and the Water Fund is reimbursing Parks $60,000 for maintaining their raw water ditches; combined, these increased the
transfers 55% in 2012.
The Parks and Open Space Fund is administered by the Parks Department under the direction of the Parks Director. The Parks and
Open Space Capital Improvement Fund was combined with the Parks and Open Space Fund in 2012. For comparision, previous
years revenue and expenses are shown combined. Notable changes include $372,000 of maintenance type projects moved from
capital into operations and about $500,000 of Park's payroll that was previously recorded to capital projects, now budgeted in
operations. There is no change in the overall payroll composition. A $3,800,000 bond issuance is proposed in 2012. The bond
proceeds will fund $1,295,000 of capital projects in 2012, $2,225,000 in 2013 and $250,000 in 2014. The fund balance is increasing
by 136% as a result of the $3,800,000 bond issuance and the timing of the projects.
Revenues
Debt Issue
29% Other Revenue
8%
Transfers
4%
0.5% Sales Tax
20% 1% Sales Tax
39%
Expenditures
Payroll GF Overhead Professional Fees
25% 9%
3 �' Materials and Supplies
5%
Capital Maintenance
Other 4%
4%
Capital Items
Transfers /Debt Service 19%
32%
2012 Proposed Budget - 5
t
100 - PARKS AND OPEN SPACE FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $4,301,657 $5,406,295 $3,640,370 $2,846,728 $1,708,588 (40 %)
Revenues
1% Sales Tax $5,234,176 $4,464,088 $4,668,042 $4,855,000 $5,049,000 4%
0.5% Sales Tax $2,617,088 $2,232,001 $2,334,721 $2,428,000 $2,525,000 4%
Debt Issue $0 $0 $0 $0 $3,800,000 N/A
Other Revenue $1,568,090 $870,194 $987,912 $677,400 $1,068,700 58%
Transfers $963,360 $602,820 $262,180 $364,300 $564,300 55%
Total Revenues $10,382,714 $8,169,103 $8,252,855 $8,324,700 $13,007,000 56%
Expenditures
Payroll $2,326,060 $2,262,770 $2,104,749 $2,128,500 $2,679,000 26%
Travel and Training $33,541 $19,921 $20,061 $33,700 $33,300 (1 %)
Professional Fees $429,665 $404,481 $396,669 $354,000 $352,000 (1 %)
Materials and Supplies $413,556 $539,320 $441,181 $459,000 $467,000 2%
Contributions $28,379 $41,539 $32,983 $48,980 $39,500 (19 %)
GF Overhead $738,971 $739,870 $928,740 $884,000 $925,000 5%
IT /GIS Overhead $0 $0 $0 $101,000 $116,000 15%
Food Tax Refund $127,850 $143,150 $147,335 $156,000 $163,000 4%
Savings /Supplemental /Other $22,938 $3,610 $102,610 $87,700 $86,000 (2%)
Capital Maintenance 5513,297 $658,801 $300,842 $432,500 $372,000 (14%)
Capital Items $1,562,023 $1,277,197 $1,713,820 $1,951,560 $2,017,600 3%
Transfers /Debt Service $3,081,795 $3,844,370 $2,857,510 $2,825,900 $3,434,400 22%
Total Expenditures $9,278,076 $9,935,028 $9,046,498 $9,462,840 $10,684,800 13%
Change to Fund Balance $1,104,638 ($1,765,925) ($793,644) ($1,138,140) $2,322,200 N/A
4
(Ending Fund Balance $5,406,295 $3,640,,37 $2,846,728 $1,708,588 $4,030,788 136% I
di t , s Vii o - -. V ` J . -� a'''' : -.. .`... . {� • - . "W r
• tv6
• -- t •
•
g `4 M1 14€ Y 1 - X 14 .5i j Ill � . -
"".., / ' ,,,,'' isol -11-06 /114 - 14 044 . 1 . 40 : 1 . •
■ ' J
o
reo
• d i % : elits •,, -,.. - \ -- -- - _ .... t 1 1 . '
va
■ 2012 Proposed Budget - 6
120 - WHEELER OPERA HOUSE FUND
2012 Revenues $4,301,600
2012 Expenditures $3,521,200
2012 Estimated Ending Fund Balance $27,361,471
Description
The Wheeler Opera House is a professional performing arts center providing Aspen and the Roaring Fork Valley with arts and
entertainment programming for residents and visitors approximately 350 days per year.
Summary
Resources are derived from theatre rentals, concessions and box office receipts, as well as proceeds from the 0.5% Wheeler
dedicated Real Estate Transfer Tax (RETT). RETT has been fairly flat from 2008 through 2012.
The Wheeler Fund provides resources for the operation and improvement of the Wheeler Opera House. In 2011, $2.7 million was
approved for the renovation of the lease space and basement, making this a $2.9 million project. During this project the lease
spaces do not generate revenue lowering 2011 collections. 2012 is budgeted to have a full year of lease revenue. The inter -fund
loans to the General Fund and Housing Development Fund were repaid in 2010.
Revenues
Investment Interest Ticket Commissions
Transfers 6% Festival Tickets 3%
Rents and Leases °
4% 2/° 3% Theater Rentals
Tickets Sales 2%
6% Other
2%
Real Estate Transfer Tax
72%
Expenditures
Materials and Supplies
GF Overhead IT Overhead 3% Capital Items
Contributions
9% 2% 3 % Other
10% 3%
Payroll
Professional Fees 39%
31%
2012 Proposed Budget - 7
120 - WHEELER OPERA HOUSE FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $24,236,709 $26,318,380 $27,897,005 $29,455,635 $26,650,177 (10 %)
Revenues
Real Estate Transfer Tax $3,074,909 $3,185,757 $3,351,365 $3,000,000 $3,100,000 3%
Festival Tickets $11,315 $34,476 $60,123 $100,000 $115,000 15%
Tickets Sales $217,687 $300,031 $207,448 $179,000 $254,000 42%
Ticket Commissions $154,827 $149,727 $166,888 $140,000 $150,000 7%
Rents and Leases $219,028 $185,419 $197,365 $76,700 $170,000 122%
Bar Sales $43,646 $50,474 $59,998 $48,000 $65,000 35%
Theater Rentals $85,639 $66,851 $79,410 $70,700 $77,000 9%
Other Revenue $57,570 $17,847 $30,687 $6,700 $15,000 124%
Investment Interest $1,190,213 $816,258 $386,018 $236,000 $267,000 13%
Transfers $685,402 $3,194,130 $5,817,070 $88,500 $88,500 0%
Total Revenues $5,740,236 $8,000,969 $10,356,372 $3,945,600 $4,301,500 9%
4
Expenditures
Payroll $1,157,027 $1,286,577 $1,276,514 $1,297,000 $1,358,000 5%
Travel and Training $18,693 $22,112 $21500
$15,907 , $26,600 24%
Professional Fees $814,210 $1,386,064 $923,737 $1,085,000 $1,092,000 1%
Materials and Supplies $178,024 $101,547 $71,741 $137,000 $99,700 (27 %)
Contributions $385,100 $400,000 $353,150 $356,000 $350,000 (2 %)
GF Overhead $251,950 $251,050 $344,990 $354,000 $320,000 (10%)
IT Overhead $0 $0 $0 $68,800 $74,500 8%
Savings $2,190 $12,770 $5,880 $205,000 $0 N/A
Transfers $380,331 $93,410 $73100
$38,170 $73,100 $76,000 4%
Capital Items $243,629 $80,930 $226,552 $2,423,000 $118,400 (95 %)
Supplemental Requests $0 $0 $0 $665,000 $6,000 (99 %)
Total Expenditures $3,431,154 $3,634,459 $3,256,642 $6,685,400 $3,521,200 (47 %)
GAAP Basis Adjustment ($227,412) ($2,787,885) ($5,541,100) ($65,657) ($69,006) (5 %)
Change to Fund Balance 52,081,670 $1,578,625 $1,558,630 ($2,805,457) $711,294 N/A
(Ending Fund Balance 526,318,380 $27,897,005 $29,455,635 $26,650,177 527,361,471 3% ,
il IPPF , . _
i
.,
--‘416.411*"'-- 4 3
t l i l. • 11 ' f 1 . I r __
.. 1 i 1 - -
• T 1 T 1171 1 1i 11tH
2012 Proposed Budget - 8
130 - CITY TOURISM PROMOTION FUND
2012 Revenues $2,123,100
2012 Expenditures $2,247,410
2012 Estimated Ending Fund Balance $
Description
A 1% lodging tax was instituted in 2001 to generate resources for support of tourism marketing and in -town transportation. One -
half of the proceeds are provided to the Aspen Chamber and Resort Association (ACRA) contractually for marketing of Aspen's
tourist amenities. The remaining half of the proceeds is used by the City to help pay for the City's free in -town transit service,
provided by the Roaring Fork Transportation Authority (RFTA). The voters approved a tax increase from 1% to 2% in 2011. This tax
is imposed on hotel and other lodging operations within the City. Interest income is derived from fund balances remaining in this
fund between funding allocations. This income is also split 25% to RFTA and 75% ACRA.
Summary
This fund is designed to use 100% of annual proceeds. Therefore, its ending fund balance is anticipated to be $0 at the end of each
fiscal year. In 2010, the lodging tax collection came in higher than the budget, creating a fund balance . This balance was used to
fund 2011 transportation costs as well as pay the City of Aspen back for a loan given to ACRA in 2010 for marketing. In 2011,
ACRA did not budget to spend in full the anticipated revenue, generating a fund balance. In 2012, this fund balance will be
applied to ACRA's outstanding loan balance. This loan will be paid in full in 2013. In 2014, 100% of lodging tax collections will go
towards current and future year's transportation and marketing for the City of Aspen.
Revenues
1% Lodging Tax (2% Other Misc Revenues
2
0%
Expenditures
Transportation Services
23%
Marketing Services Distribution of FB
71%
Transportation
1%
Distribution of FB -
Marketing
5%
4 2012 Proposed Budget - 9
SPECIAL REVENUE GOVERNMENTAL FU
130 - CITY TOURISM PROMOTION FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 %Chg
Beginning Fund Balance $0 $0 $0 $115354 $124,314 8%
Revenues
1% Lodging Tax (2% 2011 +) $1,238,822 $910,922 $1,009,084 $2,040,000 $2,122,000 4%
Other Misc Revenues $1,825 $5,570 $940 $300 $1,100 267%
Total Revenues $1,240,647 $916,493 $1,010,024 $2,040,300 $2,123,100 4%
Expenditures
Transportation Services $620,323 $458,246 $447,340 $491,000 $531,100 8%
Marketing Services $62Q323 $458,246 $447,330 $1,425,000 $1,592,100 12%
Distribution of FB - Trans. $0 $0 $0 $57,670 $19,510 (66 %)
Distribution of FB - Marketing $0 $0 $0 $57,670 $104,700 82%
Total Expenditures $1,240,647 $916,493 $894,670 $2,031,340 $2,247,410 11%
Change to Fund Balance $0 $0 $115,354 $8,960 ($124,310) N/A
Ending Fund Balance $0 $0 $115,354 $124,314 $4 (100 %)
h , \. . r . { ' '. • .ter+ . -349 dfr: a w ` mil . . + NI •+` I . . - - ram w- -;''' 1.‘ . v-zii,,,..--....
-fy . i v.. :.... 4 .,.,, 3 ,...,.. _
.. ,
- ■ ..g. V.--l ' ‘-..—_,.. _::i;, ,,er ,, . . _ t
' - '-. ' ' - 41 4 ' \ .'
,,. P
/MAP KEt'
• Burlingame/Highway 82 • Crosstown Shuttle Isummet.sww.awt • Hunter Creek
ii... M 7fr
• Castle Maroon • Galena Street Y.riM ow) • Mtn,Yalley Dial- a•Rirlp
\ • Cemetery Lane - Highlands Direct ;;wn.. a.wl • Maroon Ben »
Bells WiIdcrness.srim... oigv N
Aspen OuP v.
and Spa ti
2 ASPFN MOUNTAIN t.c....r.� " M""""°'
DURANr RU• CY t+n» •
3 fsiYMAAI rdoun'tem WO Iry a Q!
i 1 .4? LA? z um ati _ swvv sx J _.
Rio G rn.a)1R --' 'M •
Parking Plaza HAI 1.40.1 MI r..dr.....+u ,,,.. P a , • ...I ,... '.. i i • %. 1 i s 'k.
fRANQS n111111:11111 fir 1 s MIW, L CR III ,` 40/44, NOH I H _ . 1.
II,
G',,tt6sm RED SUM li
2
R..( 1. lad 0
Mips, -...M
2012 Proposed Budget - 10
141 - TRANSPORTATION FUND
2012 Revenues $2,022,900
2012 Expenditures $1,879,100
2012 Estimated Ending Fund Balance $3,538,972
Description
The Transportation Fund accounts for all costs of transit and transportation services in the City of Aspen. The transportation
program develops and promotes transportation alternatives, works to improve transit services, funds in -town transit services and
plans for and implements future City transit routes.
Summary
Taxes are the largest revenue source. There is a 0.15% Sales Tax and a 2.1% Use Tax. Other revenue includes investment earnings
and miscellaneous sources, such as the car share program and federal and state grants. A transfer in from the Parking Fund helps
subsidize city sponsored environmentally friendly commuting options. This transfer will be $100,000 in 2012 down from the
$550,000 transfer in 2011. The subsidy from the Parking Fund is forecasted to stay at this level until 2017, due to the funding
needed to complete the Galena Plaza Redevelopment.
In 2008 at the direction of City Council, the Parking and Transportation Fund (450) and Parking Improvement Fund (140) were
changed to be the Transportation Fund (141) and the Parking Fund (451). Voters authorized a new 0.15% sales tax to replace the
0.25% sales tax and a new 2.1% Use Tax on the 2007 November ballot. The ballot language specifies that the proceeds from these
new taxes will support transportation services and requires that parking support itself from operations, following the retirement
of the Series 2004 Certificates of Participation which financed the garage.
The City contracts with RFTA to provide transit services. In 2008 this fund began providing a new west end bus service, enhancing
service to the ABC, Truscott, Buttermilk and the new Burlingame Ranch housing project. In 2009, several reductions in transit
services were made to help bring the fund into balance. RFTA's operational expenses continue to increase due to additional costs
in payroll and fuel. In 2012, one diesel bus and two car to go vehicles will be replaced.
Revenues
Highlands Route Subsidy Transfers
8% 5% Other
wi
Use Tax
45%
Sales Tax
37%
Expenditures
Capital Transfers
Other
Transportation Projects 9% 7% 2%
42%
Payroll
20%
Professional Services
9%
GF Overhead
11%
2012 Proposed Budget - 11
141 - TRANSPORTATION FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Change
Beginning Fund Balance N/A $2,763,410 $1,665,701 $3,156,772 $3,395,172 7.6%
Revenues
Investment Interest N/A $227,231 $62,996 $41,700
$52,800 26.6%
Sales Tax N/A $203,134 $699,947 $728,000 $757,000 4.0%
Use Tax N/A $977,679 51,186,539 $850,000 $910,000 7.1%
Federal and State Grants N/A $0 $138,405 $120,000 $0 N/A
Car Share Program N/A $32,422 $43,725 $42,400 °
$44,100 4.0%
Highlands Route Subsidy N/A $125,735 $147,050 $153,000 $159,000 3.9%
Burlingame Revenues N/A $106,000 $0 $0 $0 N/A
Fixed Asset Sales N/A $4,000 $11,650 $0 $0 N/A
Car Share Contributions N/A $1,000 $20,336 $0 $0 N/A
Other N/A $73,950 $0 $9,800 $0 N/A
Transfers N/A $33,190 $1,006,810 $550,000 $100,000 (81.8 %)
Total Revenues N/A $1,784,341 $3,317,459 $2,494,900 $2,022,900 (18.9 %)
Expenditures
Payroll N/A $335,515 $319,708 $356,300 $367,500 3.1%
Travel and Training N/A $11,373 $13,611 $9,000
$10,800 20.0%
Professional Services N/A $150,424 $144,949 $176,000 $178,000 1.1%
Materials and Supplies N/A $27,540 $18,023 $62,900 $11,700 (81.4 %)
GF Overhead N/A $144,430 $156,000 $164,000 $211,000 28.7%
IT Overhead N/A $0 $0 $24,700 $24,500 (0.8 %)
Transportation Projects N/A $1,628,048 $907,490 $777,200 $789,300 1.6%
Saving/Supplemental N/A $1,520 $7,750 $224,000
$0 N/A
Capital N/A $49,520 $181,108 $380,000 $162,000 (57.4%)
Transfers N/A $533,680 $77,750 $82,400 $124,300 50.8%
Total Expenditures N/A $2,882,050 $1,826,389 $2,256,500
$1,879,100 (16.7 %)
Change to Fund Balance N/A ($1,097,709) $1,491,070 $238,400 5143,800 (40 %)
Ending Fund Balance N/A $1,665,701 $3,156,772 $3,395,172 I
$3,538,972 4%
I
)0 '
II
e` -
82 • - 1
-• \ ° r >- -
i L li [ C •�- '÷�!
1 id ‘___
viii 46.,
I
1111 ,. % 0'� _
, ...... a
2012 Proposed Budget - 12
150 - HOUSING DEVELOPMENT FUND
2012 Revenues $7,367,000
2012 Expenditures $3,574,500
2012 Estimated Ending Fund Balance $13,599,004
Description
This fund is responsible for the development of City- constructed affordable housing and provides an operating subsidy for City -
owned rental property, Truscott Phase I and the City's half of the annual operating subsidy for the Aspen Pitkin County Housing
Authority.
Summary
A 1% real estate transfer tax (RETT) and a portion of the City's 0.45% sales tax for housing and day care provide resources for this
fund. RETT has been fairly flat from 2008 through 2012. The 0.45% sales tax is shared with the Kids First Fund. In 2007, Council
approved a reallocation of proceeds between the two Funds, where 45% of the proceeds will be allocated to this fund. Other
revenue sources include parking leases, in lieu of impact fees, tax credit reimbursement income and investment income.
The City is developing the Burlingame Ranch housing, which consists of two phases of construction. The planning for the second
phase continues in 2011. In 2012, $1.9 million is budgeted for fees due at time of building permits and in 2013, $17.8 million is
budgeted for the start of construction.
Interfund transfers include the City's half of annual funding for the Aspen /Pitkin County Housing Authority, the debt service
subsidy for Truscott rental property and the General Fund overhead costs. The fund balance is budgeted to increase by 39% in
2012 to build a balance for construction of Burlingame Phase II.
Revenues
Other Real Estate Transfer Tax
0
Lumber Yard Lease 77%
Revenue
6%
Sales Tax
14%
Expenditures
GF Overhead
11% Other
16%
Truscott I Subsidy
20%
Burlingame Phase II
53%
2012 Proposed Budget - 13
150 - HOUSING DEVELOPMENT FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $535,940 51,218,818 $3,489,280 $4,802,404 $9,806,504 104%
Revenues
Real Estate Transfer Tax 55,731,302 $5,881,378 56,370,311 $5,500,000 $5,700,000 4%
Sales Tax 51,059,497 $901,048 $944,433 $982,000 51,021,000 4%
Sale of Affordable Housing $200,654 $0 5508,454 $0 $0 N/A
Garage Lease Revenue $49,828 $22,420 $47,073 532,000 530,000 (6 %)
In Lieu and Impact Fees $4,600,966 5291,136 $239,138 $2,370,000 550,000 (98 %)
Lumber Yard Lease Revenue $655,084 5624,180 $564,360 5428,000 5420,000 (2 %)
Pre - Purchased Units $0 $0 52,300,000 $0 $0 N/A
Investment Interest $108,512 $191,894 $83,064 $48,000 598,000 104%
Transfers $720,950 $997,050 $0 $0 $0 N/A
Other $402,259 5461,692 $73,198 557,100 548,000 (16 %)
Total Revenues $13,529,051 $9,370,798 $11,130,029 *417,100 $7,367,000 (22 %)
Expenditures
Housing Development Admin $133,881 5121,166 $119,818 5122,000 5127,000 4%
Burlingame Infa & Admin 59,943 $0 $0 $0 $0 N/A
Burlingame Phase 1 51,023,229 5904,692 $173,136 $36,200 $0 N/A
Burlingame SF Lot $746,648 $593,220 $202,215 $459,900 $0 N/A
Burlingame Phase II $838,828 $242,124 $1,749,443 52,190,300 $1,900,000 (13 %)
Annie Mitchell Homestead $288,390 $297,085 $69,393 $10,000 $0 N/A
Remodel of Deed Restricted Units $0 50 $256,081 $6,500 50 N/A
488 Castle Creek $11,543 50 $0 50 $0 N/A
312 W. Hyman- Gerber Prop $0 $9,426 $0 $0 $75,000 N/A
802 W. Main St. 57,148 $2,852 $16,200 $70,000 $0 N/A
517 Park Circle 53,606,189 $0 520,400 $20,000 $0 N/A
BMC West Purchase $47,671 $9,537 $0 50 $0 N/A
Deer Hill and Burlingame Trail $33,270 50 $0 $0 $0 N/A
2001 Truscott B Bond $3,922,190 $0 $0 $0 $0 N/A
Housing Operations Subsidy $184,150 $198,880 5198,880 5189,000 5189,000 0%
Truscott I Subsidy 51,062,250 $743,820 $742,620 $710,000 $705,600 (1 %)
GF Overhead $522,725 $523,360 5394,170 $356,000 5405,000 14%
IT Overhead $0 $0 $0 516,500 55,000 (70 %)
Loan from Wheeler $368,004 $2,915,680 $5,703,130 $0 $0 N/A
Other 540,114 $538,494 5171,420 $226,600 $167,900 (26 %)
Total Expenditures $12,846,173 $7,100,335 $9,816,905 $4,413,000 $3,574,500 (19 %)
Change to Fund Balance $682,878 $2,270,463 $1,313,124 $5,004,100 $3,792,500 (24 %)
Ending Fund Balance $1,218,818 $3,489,280 $4,802,404 $9,806,504 $13,599,004 39% 1
I IR n W n
a.
. - k s � I.
1 -' r il liAT IP ': . . . ' .'
2012 Proposed Budget - 14
152 - KIDS FIRST FUND
2012 Revenues $1,874,300
2012 Expenditures $2,003,400
2012 Estimated Ending Fund Balance $3,170,857
Description
The Kids First Program ensures the availability of affordable, quality childcare in the City of Aspen and Pitkin County by providing
funding, training and advocacy for private and non - profit child care providers.
Summary
The primary source of funding for Kids First is the 0.45% Sales tax. This revenue stream is shared with the Housing Development
Fund. In 2007, City Council approved a reallocation of proceeds between the two Funds. Going forward, 55% of the proceeds will
be allocated to the Kids First Fund. Remaining revenues are derived from grants and investment earnings.
The Kids First Fund will provide tuition assistance and grants to childcare providers, educational services and advocacy for
childcare services offering subsidized day care to approximately 400 local children.
In 2010, the 151 Fund terminated as the Early Childhood Network spun off into a 501(c)(3). The Rural Resort Region Early
Childhood Council (RRRECC), formally part of the 151 fund, became a department of the 152 fund in 2011. This increased the
beginning fund balance for 2011. Otherwise, this change had no net impact on the 152 Fund as grants offset expenses.
Contributions, including childcare financial aid, will decrease 13% in 2012. In 2011, a one -time $60,000 supplemental request was
approved to meet the need for childcare financial aid. Contributions were further reduced in 2012, per Council direction, to
match expenditures to projected revenue. Revenue and expenses will be balanced in 2017.
Revenues
Investment Interest RRRECC
20%
Yellow Brick 2%
10%
Sales Tax
67%
Other Sources
1%
Expenditures
Contributions
52%
Other
4
GF Overhead
6% Payroll
Professional Services 26%
10%
2012 Proposed Budget - 15
1
152 - KIDS FIRST FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance 53,741,079 $4,157,943 $3,933,773 $4,149,557 $3,299,957 (20%)
Revenues
Kids First
Sales Tax 51,295,358 51,101,844 51,155,802 51,202,000 51,250,000 4%
Other Sources $48,516 $79,022 $55,715 $28,500 $28,500 0%
Investment Interest $285,502 5177,230 $63,900 $36,600 533,000 (10 %)
Transfers $197,500 5181,684 5409,782 $0 $0 N/A
RRRECC 50 50 $0 $284,000 5374,200 32%
Yellow Brick 5157,853 5180,473 5176,682 $206,000 $188,600 (8 %)
Total Revenues $1,984,729 $1,720,254 $1,861,882 $1,757,100 $1,874,300 7%
Expenditures
Kids First
Payroll 5414,840 $403,333 5370,588 $369,600 $369,600 0%
I Travel and Training $8,812 $9,655 $5,599 510,000 510,000 0%
Professional Services $27,276 $18,621
511,065
525,000 $26,500 6%
Materials and Supplies 510,597 $5,475 54,670 $17,500 59,300 (47%)
Contributions 5854,132 $891,631 $909,272 5944,800 $825,000 (13 %)
Savings $4,550 $0 55,960 5108,700 $0 N/A
GF Overhead $66,675 566,760 5118,490 $117,500 5129,000 10%
IT Overhead 50 $0 $0 530,300 526,900 (11 %)
Capital $0 $145,466 $5,421 51,500 50 N/A
Transfers $30,940 $33,380 $33,720 533,000 $46,900 42%
One Time Distribution
Grant Distribution - ECN 501c3 $0 $0 $0 $331,500 $0 N/A
RRRECC
Payroll $0 $0 $0 $65,200 584,200 29%
Travel and Training $0 $0 $0 519,400 $21,000 8%
Professional Services $0 $0 $0 592,000 $146,000 59%
Materials and Supplies $0 $0 50 57,000 58,000 14%
Contributions $0 50 $0 $209,000 $115,000 (45 %)
Yellow Brick
Payroll $57,720 $55,086 574,219 $83,900 588,000 5%
Professional Services $54,998 $53,601 566,180 $72,900 575,000 3%
Materials and Supplies 531,515 57,413 513,932 $10,300 511,000 7%
Capital $0 5254,003 $26,982 $57,600 512,000 (79 %)
Total Expenditures $1,562,055 $1,944,424 $1,646,098 $2,606,700 $2,003,400 (23 %)
Change to Fund Balance $422,674 ($224,170) $215,784 ($849,600) ($129,100) 85%
I (Ending Fund Balance 54,157,943 $3,933,773 $4,149,557 $3,299,957 $3,170,857 (4 %) I
_ � . e sir ' '
- t� J a i /�\ � � � � Y
I
ti 1"-
-..1 J 1 � _a . , } :alp
2012 Proposed Budget - 16
160 - STORMWATER FUND
2012 Revenues $1,589,300
2012 Expenditures 51,524,600
2012 Estimated Ending Fund Balance 52,699,390
Description
The Stormwater fund works to prevent, reduce and mitigate the impacts of development on the Roaring Fork River. The fund
provides funding to address stormwater runoff issues through and use planning, hydrologic and hydraulic engineering,
construction of stormwater management areas (such as wetlands), inspections, creation and enforcement of regulations,
sediment removal, water quality monitoring and educational and outreach programs.
Summary
A 0.650 Mil Property tax levy was instituted in November 2007 for an expanded stormwater management system. In addition, a
stormwater development fee was instituted. A required fee of $70 per cubic foot of detention can be paid to the stormwater
fund if a development cannot meet the detention requirements of the site. The Development Fees are anticipated to increase
by 12% in 2012. 5% of this revenue growth is due to the estimated increase for all construction activities. The other 7% is from a
new fee for development review, a portion of which is dedicated to stormwater for review of drainage plans.
Planned 2012 capital projects include $140,000 to reinforced concrete pipe with for corrugated metal project, $120,000 for
Stormwater Improvements and $100,000 for other Water Quality Improvements. In 2012, the Stormwater Fund is participating
in two joint City Fund projects; $250,000 for the Rio Grande Park Improvements and $250,000 for the Galena Plaza
Redevelopment. These projects are managed and recorded in the Parks and Open Space Fund and the Parking Fund and are the
reason the transfers will increase 376% from 2011.
Revenues
Interest Income Transfers
2%
Development Fees 9%
37% Property Tax -
St ormwa t er
52%
Expenditures
Other
34%
4 1
Payroll
24%
ravel and Training
Transfers 0%
34% GF Overhead
8%
is
2012 Proposed Budget - 17
I
160 - STORMWATER FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $107,417 $1,320,938 $1,931,807 $2,597,190 $2,634,690 1%
Revenues
Property Tax - Stormwater $797,535 $812,297 $824,296 $898,000 $830,000 (8 %)
Development Fees $700,831 $440,847 $586,805 $527,000 $589,000 12%
Interest Income $49,853 $74,951 $35,299 $20,800 $26,300 26%
Transfers $0 $0 $0 $0 $144,000 N/A
Total Revenues $1,548,219 $1,328,095 $1,446,400 $1,445,800 $1,589,300 10%
Expenditures
Payroll $186,538 $329,544 $261,351 $260,700 $359,100 38%
Travel and Training $0 $2,113 $1,111 $3,000 $5,600 87%
Professional Services $25,668 $36,591 $61,219 $93,200 $77,200 (17 %)
Materials and Supplies $6,089 $53,724 $30,845 $67,600 $51,600 (24 %)
GF Overhead $60,000 $61,000 $132,500 $146,000 $129,000 (12 %)
IT Overhead $0 $0 $0 $4,000 $4,800 20%
Property Tax Collection Fees $15,951 $16,368 $16,624 $18,000 $17,300 (4 %)
Supplemental - Ord # 18 $0 $0 $0 $77,100 $0 N/A
Capital $40,451 $213,755 $267,677 $629,500 $360,000 (43 %)
Transfers $0 $4,130 $9,690 $109,200 $520,000 376%
Total Expenditures $334,697 $717,225 $781,017 $1,408,300 $1,524,600 8%
Change to Fund Balance $1,213,521 $610,869 $665,383 $37,500 $64,700 73%
(Ending Fund Balance $1,320,938 $1,931,807 $2,597,190 $2,634,690 $2,699,390 2% I
r ,
r
Lij , • -,,.
i - A. ,- ,,, S'I'C -
CLEAN WATER . > .: ---
2012 Proposed Budget - 18
250 - DEBT SERVICE FUND
2012 Revenues $3,608,460
2012 Expenditures $3,610,730
2012 Estimated Ending Fund Balance $181,097
Description
The Debt Service Fund manages the accumulation of resources for, and the payment of, general long term debt principal and
interest.
Summary
The primary source of revenue is transfers from other governmental funds. Expenditures are primarily for principal and interest on
general long term debt. Parks and Open Space Fund is proposing to issue $3,800,000 in bonds in 2012 for capital projects and open
space acquisitions. These bonds are within the Fund's voter approved bonding authority.
The Debt Service section provides detailed explanation of the functioning of the fund and the issues that make up the required
transfers and expenditures.
Revenues
New $3.8M - Transfers
9% Lease Revenue
16%
Transfers
75%
Expenditures
Trustee Fees
0% New $3.8M - Parks
9%
Interest Paymen
47%
Principal Payments
44%
2012 Proposed Budget - 19
250 - DEBT SERVICE FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $501,783 $186,077 $187,439 $187,797 $183,367 (2 %)
Revenues
Lease Revenue $593,864 $594,864 $594,864 $594,860 $594,860 0%
Bond Refunding $0 $7,353,345 $0 $0 $0 N/A
Transfers $3,447,040 $2,746,390 $2,705,290 $2,709,590 $2,695,600 (1 %)
New $3.8M - Transfers $0 $0 $0 $0 $318,000 N/A
Total Revenues $4,040,904 $10,694,599 $3,300,154 $3,304,450 $3,608,460 9%
Expenditures
Trustee Fees $6,286 $3,091 $5,150 $6,500 $5,400 (17 %)
New $3.8M - Parks $0 $0 $0 $0 $318,000 N/A
Principal Payments $1,970,475 $1,362,600 $1,504,725 $1,546,280 $1,592,820 3%
Interest Payments $2,065,958 $1,974,200 $1,789,921 $1,756,100 $1,694,510 (4 %)
Bond Refunding $0 $7,353,345 $0 $0 $0 N/A
Transfers $313,890 $0 $0 $0 $0 N/A
Total Expenditures $4,356,610 $10,693,236 $3,299,796 $3,308,880 $3,610,730 9%
Change to Fund Balance ($315,706) $1,363 $358 ($4,430) ($2,270) 49%
(Ending Fund Balance $186,077 $187,439 $187,797 $183,367 $181,097 (1 %) I
y Ye•"i+Y ,,.1 #r �, �
4.« . -,.....0, A
,
,, .,:. ::,- -,„-_, „----.. - • - --• t_a_ \I, ,
k' I.5 , ' ' �` _; a i t . it
s - -- �.+ri.. ._ . S it
L. li lir __ _ _ . . _ .._..__ _.. - , , - ,- ...- --
Mt
- Y.. •
.F +
li
2012 Proposed Budget - 20
421- WATER UTILITY FUND
2012 Revenues $6,044,100
2012 Expenditures $7,073,300
2012 Estimated Ending Fund Balance $3,297,849
Description
The Water Utility Fund provides water services to approximately 3,750 residential and commercial customers. The system
provides for the collection, treatment, storage and distribution of potable water in accordance with federal and state standards
that regulates the quality of drinking water. The fund also manages water rights and diversion facilities and operates raw water
delivery systems for irrigation and snowmaking customers.
Summary
Water usage fees provide the primary source of funding. 2006 completed the second year of a two year rate increase for water
utility usage. Prior to this, water rates had not changed since 1987. A 5% rate increase is planned for 2012. This, combined with a
forecasted normal rainfall, is the reason for the 25% increase in water service revenue over the wet 2011. Other major sources of
revenue including tap fees for installation of new services, transfers for billing services and investment interest.
In 2012, only $25,000 is anticipated in grant funding compared to $360,000 in 2011 ,decreasing the fund's other revenue by 91 %.
Tap fees will decrease 74% in 2012. In 2011, Buttermilk Metro District paid $2,000,000 in tap fees. The largest known project in
2012 is the Aspen Valley Hospital Expansion, which is scheduled to pay $250,000 of the project's $750,000 tap fees.
Major projects include Ground Water Facilities, East Side Water Distribution System Improvements, Mainline Replacement, Fleet
Replacement and Conservation Program. For more information on the capital projects, see tab 3 "Asset Management Plan ". The
Fund balance will decrease by 24% partially due to the above mentioned capital projects. In 2011, a $2,800,000 transfer was
made to fund the penstock /emergency drain line. Half of this funding is scheduled to be paid back starting in 2014 when the
Castle Creek Energy Center is slated to come on line.
Revenues
Tap Fees Transfer for UB Svcs
10% 5% Other
4%
Water Service
83%
Expenditures
Transfers
Capital 19%
23%
Professional Fees Other
9% 8%
Overhead Payroll
/° 33%
2012 Proposed Budget - 21
421- WATER UTILITY FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $10,159,342 $9,678,324 $9,990,559 $8,420,949 $4,327,049 (49 %)
Revenues
General Government $32,169 $32,761 $20,749 $26,000 $23,100 (11 %)
Water Service $4,200,419 $4,299,205 $4,209,696 $3,998,800 $4,982,000 25%
Other Revenues $103,967 $130,257 $132,255 $385,200 $33,000 (91 %)
Investment Interest $694,521 $372,895 $148,668 $54,000 $43,000 (20 %)
Tap Fees $1,323,273 $499,031 $436,386 $2,336,000 $611,000 (74 %)
Other Transfers $248,240 $762,370 $114,440 $116,500 $162,000 39%
Transfer for UB Svcs $280,095 $283,820 $281,526 $184,000 $190,000 3%
Total Revenues $6,882,684 $6,380,338 $5,343,720 $7,100,500 $6,044,100 (15 %)
Expenditures
Payroll $2,080,968 $2,161,098 $2,116,131 $2,272,000 $2,309,000 2%
Overhead $649,560 $650,340 $628,430 $525,000 $583,000 11%
IT Overhead $0 $0 $0 $140,000 $149,000 6%
Travel and Training $56,814 $51,591 $34,287 $71,000 $71,000 0%
Professional Fees $620,464 $653,705 $517,145 $600,000 $623,000 4%
Materials and Supplies $332,547 $214,522 $209,121 $307,000 $275,000 (10 %)
Savings /Supplemental $15,350 $0 $13,200 $235,000 $60,000 (74 %)
Int Payment Utility Billing $4,210 $1,851 $4,179 $0 $0 N/A
Capital $1,065,785 $1,130,846 $2,028,210 $2,963,400 $1,640,300 (45 %)
Transfers $2,538,003 $1,204,150 $1,362,630 $4,081,000 $1,363,000 (67 %)
Total Expenditures $7,363,700 $6,068,102 $6,913,332 $11,194,400 $7,073,300 (37 %)
Change to Fund Balance (5481,019) $312,236 (51,569,612) (54,093,900) (51,029,200) 75%
'Ending Fund Balance $9,678,324 $9,990,559 $8,420,949 54,327,049 $3,297,849 (24 %) - ' r ri lir : ff) - - 411 ---
,,,awn"► .
SO 10 11114 0 ' ter"P'"-la . l
1
Z 1♦. i� .. . r`
li .. iii iri
■ r
i 1 i l
I , .+ , -4
t __�
.
I _
/
/ 1
O'
2012 Proposed Budget - 22
431- ELECTRIC UTILITY FUND
2012 Revenues $7,437,500
2012 Expenditures $7,726,900
2012 Estimated Ending Fund Balance $625,775
Description
The fund provides service to approximately 2,850 residential and commercial accounts. The system provides for generation and
distribution of electric power to its current customers and for Aspen's street lights.
Summary
Electric Utility service fees are the primary source of revenue for the Electric Utility Fund. Electric rates will increased on a small
subset of commercial customers in 2011. A new rate study was completed in 2011. These rates will be implemented in 2012
through 2015.
Notable changes in 2012 are as follows: the Aspen Recreation Center will move from Holy Cross to the City of Aspen's electric
service, all City of Aspen accounts will be charged for service and the operations and capital expenses were moved from the
Renewable Energy Fund (444) to the Electric Fund (431). After the construction of the Castle Creek Energy Center is complete
those operation and maintenance costs will move to the Electric Fund as well and the 444 Fund will be closed. The largest capital
projects in 2012 are $600,000 for a Second Feed Electric System, $450,000 for Koch Park to City Market Distribution System,
$282,000 for Carbon Reduction Program, $170,000 for ACSD Distribution System, and $150,000 for Energy Conservation. For
additional details on these projects turn to tab 3 "Asset Management Plan" in the 2012 budget development book. The fund
balance decreases 32% in 2012.
Revenues
Other Current Revenue
Electric Service Charges
1%
99%
Expenditures
d Capital
26%
Transfers
Power Purchase - Wind
9%
14% Other
6%
Payroll
7%
Power Purchase - Ruedi GF Overhead
4% 4%
Power Purchase - MEAN
30%
2012 Proposed Budget - 23
431- ELECTRIC UTILITY FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $2,256,623 $2,498,832 $2,369,311 $1,008,975 $915,175 (9 %)
Revenues
Electric Service Charges $5,668,106 $6,219,471 $6,567,995 $6,741,000 $7,354,000 9%
Other Current Revenue $294,819 $219,377 $71,482 $103,400 $83,500 (19 %)
Total Revenues $5,962,927 $6,438,849 $6,639,477 $6,844,400 $7,437,500 9%
Expenditures
Payroll $533,604 $563,054 $715,617 $560,000 $566,000 1%
GF Overhead $330,361 $330,750 $247,220 $223,000 $298,000 34%
IT Overhead $0 $0 $0 $10,000 $14,600 $14,600 46/
II Travel and Training $9,732 $8,987 $11,784 $27,000 $14,000 (48 %)
444 - Administration $0 $0 $0 $0 $144,000 N/A
Power Purchase - MEAN $1,827,530 $2,021,975 $2,259,094 $2,139,000 $2,342,000 9%
Power Purchase - Ruedi $414,100 $418,240 $422,420 $427,000 $289,000 (32 %)
Power Purchase - Wind $914,746 $905,581 $976,953 $1,057,000 51,068,000 1%
Power Purchase - Maroon $82,504 $88,518 $52,854 $80,000 $91,000 14%
Other Contractual Services $49,621 $32,022 $41,933 $115,000 $82,000 (29 %)
Equipment Maintenance $69,646 $40,213 $36,619 $97,000 $102,000 5%
Investment Payment $17,353 $1,851 $4,179 $0 $0 N/A
Savings /Supplemental /Other $1,010 $1,980 $11,680 $397,800 $0 N/A
Capital $437,556 $886,700 $1,827,217 $1,240,000 $1,983,300 60%
Transfers $1,032,955 $1,268,500 $1,392,246 $565,400 $733,000 30%
4 Total Expenditures $5,720,718 $6,568,370 $7,999,816 $6,938,200 $7,726,900 11%
Change to Fund Balance $242,209 ($129,521) ($1,360,339) ($93,800) ($289,400) (209 %)
(Ending Fund Balance $2,498,832 $2,369,311 $1,008,975 $915,175 $625,775 (32 %) I
4
�i
1
e' T
■
, So
.
2012 Proposed Budget - 24
444 - RENEWABLE ENERGY FUND
2012 Revenues $52,200
2012 Expenditures $1,435,200
2012 Estimated Ending Fund Balance $1,168,816
Description
The fund oversees operation of the Ruedi and Maroon Creek Hydroelectric Plants and manages power supply contracts with a
number of power suppliers to ensure delivery of a reliable energy supply to its customers at competitive rates. The Renewable
Energy Fund accounts for expenses of all of the City's hydroelectric generating facilities.
Summary
The Renewable Energy Fund sells 100% of its generated hydroelectric power to the City's Electric Utility Fund. Miscellaneous
revenue and investment income generate a small amount of additional revenues.
The Fund has issued debt in the amount of approximately $5.5 million to finance the construction of a new hydroelectric facility on
Castle Creek. It is anticipated that the Castle Creek Hydroelectric Plant will come on line in 2014. The fund balance is being used
for the construction of the Castle Creek Energy Center (CCEC); therefore, it is decreasing 54% in 2012. After the construction of
the Castle Creek Energy Center is complete this fund will be closed and the operation and maintenance costs for CCEC will move to
the Electric Fund.
Revenues
Transfers
51%
Interest Income
49%
Expenditures
Debt Service
25%
Other
1%
Payroll
3%
Capital
71%
2012 Proposed Budget - 25
444 - RENEWABLE ENERGY FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $867,163 $6,828,854 $5,505,510 $3,092,316 $2,551,816 (17 %)
Revenues
Ruedi Commercial Power $414,100 $418,240 $422,420 $427,000 $0 N/A
Maroon Creek Power $82,504 $88,518 $52,854 $80,000 $0 N/A
Interest Income $283,240 $321,348 $93,895 $17,400 $25,500 47%
Bond Proceeds for Castle Crk $5,500,000 $0 $0 $0 $0 N/A
Core REMP Funds $200,000 $200,000 $0 $0 $0 N/A
Canary Tags $0 $2,594 $3,086 $2,000 $0 N/A
Geothermal Grant $0 $0 $0 $50,000 $0 N/A
Transfers $1,117,800 $456,000 $663,730 $2,802,000 $26,700 (99 %)
Total Revenues $7,597,644 $1,486,699 $1,235,985 $3,378,400 $52,200 (98%)
Expenditures
Payroll $66,138 $168,196 $123,557 $173,500 $46,300 (73 %)
Overhead $11,990 $12,000 $52,180 $33,900 $0 N/A
Travel and Training $406 $2,366 $3,675 $6,500 $0 N/A
Professional Fees $258,058 $198,346 $195,489 $276,000 $0 N/A
Materials and Supplies $712 $11,348 $6,480 $18,000 $0 N/A
Contributions $5,000 $0 $0 $0 $0 N/A
Capital $1,250,936 $2,026,113 $2,901,669 $3,046,000 $1,021,000 (66 %)
Transfers $0 $35,020 $6,110 $4,600 $11,000 139%
Debt Service $47,607 $356,968 $360,343 $360,400 $356,900 (1 %)
Total Expenditures $1,640,847 $2,810,357 $3,649,502 $3,918,900 $1,435,200 (63 %)
GAAP Basis Adjustment $4,894 $313 $323 $0 $0 N/A
Change to Fund Balance $5,961,691 ($1,323,344) ($2,413,195) ($540,500) ($1,383,000) (156 %)
'Ending Fund Balance $6,828,854 $5,505,510 $3,092,316 $2,551,816 $1,168,816 (54 %) I
. I f% ., 1 _
/ � ter / r i!! '
iii ll . 16 _ - / °V - _,..4 _
1 . , 4
_ ___. i
IL,- _ _ .. _
. .
, .. , .,,............ .
..-. ........... ..,..
ift. _ _ _ ..,.
' MI 1111111■■ ____ I k 1 0111 11"r-
r
2012 Proposed Budget - 26
451- PARKING FUND
2012 Revenues $3,601,020
2012 Expenditures $3,517,600
2012 Estimated Ending Fund Balance $1,427,435
Description
The Parking Fund accounts for all costs of in town and on street parking control and services and the operation and maintenance
of the Rio Grande Parking Plaza. The parking plaza provides a convenient, safe, efficient and user friendly covered parking facility
for residents and visitors to Aspen.
Summary
The primary source of revenue for the fund is parking permits, meter and parking fine revenue. Garage fees, lease revenues and
investment earnings provide the other funding sources for this fund. In 2012, the parking fees are proposed to increase 10%.
Additionally, there is a proposed change to make peak season Sundays paid days to encourage use of alternative transportation
during high traffic season.
The ongoing maintenance of the Galena Plaza parking garage has been an issue. Redevelopment of Galena Plaza is scheduled to
begin in 2012. This project's current estimate is about $4,400,000 of which the Parking Fund is funding $3,000,000 of the project.
The transfer to the Transportation fund decreased from $550,000 in 2011 to $100,000 in 2012 and will stay at that level until 2017
in order to cash fund the Galena Plaza garage repair.
Revenues
Parking Garage Revenue Other Sources/Transfers
11% 15%
Parking Fine Revenue
18%
Parking Permit Revenue
56%
Expenditures
Other Transfers and Debt
Capital 2% Service
33% 50/
Payroll
28%
GF Overhead
11%
Materials and Supplies Travel and Training
59 Professional Services 0%
16%
2012 Proposed Budget - 27
451- PARKING FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance N/A $2,260,978 $2,714,208 $2,084,147 $1,344,016 (36 %)
Revenues
Parking Permit Revenue N/A 51,747,445 $1,694,968 $1,771,570 $2,000,820 13%
Parking Fine Revenue N/A $591,760 $535,490 $567,200 $648,800 14%
Parking Garage Revenue N/A $421,457 $394,225 $383,000 $412,000 8%
Other Sources/Transfers N/A $790,060 $81,999 $900 $526,000 58,344%
Investment Interest N/A $88,958 $40,668 $16,700 $13,400 (20 %)
Total Revenues N/A $3,639,680 $2,747,351 $2,739,370 $3,601,020 31%
Expenditures
Payroll N/A $1,057,603 $940,000 $963,200 $985,400 2%
Travel and Training N/A $7,167 $13,009 $16,900 $16,000 (5 %)
Professional Services N/A $415,058 $526,802 $496,000 $560,000 13%
Materials and Supplies N/A $136,801 $188,760 $168,500 $192,700 14%
GF Overhead N/A $494,510 $372,790 $345,000 $369,000 7%
IT Overhead N/A $0 $0 $54,700 $68,600 25%
In Car Meters Refund N/A $85,430 $0 $0 $0 N/A
Savings /Supplemental Ord #18 N/A $3,600 $18,730 $393,400 $14,400 (96 %)
Capital N/A $338,182 $844,761 $451,300 $1,145,500 154%
Transfers and Debt Service N/A $648,097 $472,560 $590,500 $166,000 (72 %)
Total Expenditures N/A $3,186,448 $3,377,411 $3,479,500 $3,517,600 1%
Change to Fund Balance N/A $453,233 ($630,061) ($740,131) $83,419 N/A
(Ending Fund Balance N/A $2,714,208 $2,084,147 $1,344,016 51,427,435 6% l
r ._
--]11 1.11.1111111k
• .
I !'!' "► - - A, diarai
__I!
i " iitIA"
•
.J T. A J.. ry - ' Nu
VI, Ilir
diPall
s 1
1 2 FEET
2012 Proposed Budget - 28
471- GOLF COURSE FUND
2012 Revenues $1,973,000
2012 Expenditures $1,922,100
2012 Estimated Ending Fund Balance $220,002
Description
The Golf Course Fund manages and operates of the City's 18 hole championship golf course and clubhouse.
Summary
The primary sources of revenue are greens fees and local pass revenue. Additionally the fund will receive revenue from leases and
usage of the clubhouse facility for various activities. However, the golf shop will not longer be leased in the summer, changing the
structure of golf course operations and making golf shop revenue the largest single contributor.
In 2010, the golf course operational budget increased by about $420,000. This increase is a result of the City of Aspen bringing
the golf shop operations in house. In 2011, these additional expenses are offset by $540,000 in golf shop revenue. In 2012,
$225,000 is budgeted for the construction and installation of the pump house, funded from a transfer from the Parks and Open
Space Fund. This project completes the affluent water distribution system at for the golf course. This new irrigation system is
part of the water reclamation program which will conserve about one million gallons of water a day during the peak periods of
summer operation. This will increase the City of Aspen's raw water capacity by a like amount.
Staff has restructured green fee and pass revenue to increase operating revenue per round played. In 2011, golf lessons have
been outsourced to a world- renowned golf school and starting in 2012, capital equipment and golf carts will be lease purchased
to smooth replacement costs out over time. Refinement of golf course operations to ensure that it becomes self- sustaining is a
high priority of City staff. The debt service is funded by a transfer from the Parks and Open Space Fund to make the golf course
financially sustainable; recognizing the Golf Course is an Open Space asset.
Revenues
Pro Shop - Winter Other
Restaurant Lease
1% 20%
1%
Green Fees
24%
Golf Shop
29%
Loca Pass Revenue
25%
Expenditures
GF Overhead IT Overhead Debt Service Transfers
9% 7%
Capital 2%
17%
Materials and Supplies
11% ayroll
Professional Fees Travel and Training 41%
11% 0%
2012 Proposed Budget - 29
471- GOLF COURSE FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $48,999 $43,426 $282,846 $159,802 $169,102 6%
Revenues
Green Fees $556,144 $441,176 $458,655 $458,000 $476,000 4%
Local Pass Revenue $440,810 $382,536 $419,509 $465,000 $484,000 4%
Golf Shop - Lease $111,271 $110,730 $0 $0 $0 N/A
Golf Shop $0 $0 $427,855 $541,700 $582,300 7%
Restaurant Lease $17,600 $25,000 $18,250 $20,000 $20,000 0%
Pro Shop - Winter $14,284 $16,262 $23,730 $15,000 $16,500 10%
Other Revenue $5,900 $317 $3,597 $0 $500 N/A
Investment interest $6,056 $5,998 $5,457 $2,600 $1,700 (35 %)
Refund of Expenditure $7,761 $3,399 $0 $0 $15,000 N/A
Transfers $95,520 $335,000 $140,400 $146,000 $377,000 158%
Total Revenues $1,255,346 $1,320,419 $1,497,452 $1,648,300 $1,973,000 20%
Expenditures
Payroll $579,535 $524,058 $874,879 $766,900 $785,100 2%
Travel and Training $8,446 $6,666 $10,101 $7,500 $7,100 (5 %)
Professional Fees $178,032 $129,619 $186,023 $213,000 $216,500 2%
Materials and Supplies $116,712 $63,407 $207,327 $201,600 $203,600 1%
Capital $108,680 $91,505 $16,588 $57,000 $32Q500 462%
GF Overhead $115,720 $111,940 $151,200 $17Q000 $182,000 7%
IT Overhead $0 $0 $0 $29,000 $35,500 22%
Supplemental Ord. #18 $0 $0 $0 $11,800 $0 N/A
Debt Service $135,556 $135,482 $136,048 $135,800 $135,700 (0 %)
Transfers $18,730 $18,830 $38,860 $46,400 $36,100 (22 %)
Total Expenditures $1,261,412 $1,081,508 $1,621,026 $1,639,000 $1,922,100 17%
GAAP Basis Adjustment $493 $509 $530 $0 $0 N/A
Change to Fund Balance ($6,066) $238,911 ($123,574) $9,300 $50,900 447%
(Ending Fund Balance $43,426 $282,846 $159,802 $169,102 5220,002 30% I
--" - T, ,.
. u + t' . -
-- _ L - c
l %tea
' - S
' r .` -. ` T om,:
2012 Proposed Budget - 30
P ,_ ;.1.' lrR,MPRIP .SONO _lw z z -.° _ ._._
491- TRUSCOTT HOUSING FUND
2012 Revenues $1,793,600
2012 Expenditures $1,528,900
2012 Estimated Ending Fund Balance $1,453,092
Description
The fund provides housing for employees working in Pitkin County. The housing complex is located adjacent to the City's golf
course and provides 100 units of income restricted rental housing to qualifying workers and their families.
Summary
The primary source of revenue for this fund is rental revenue from tenant leases. This fund also receives an annual subsidy from
the Housing Development Fund. This subsidy offsets the annual debt service cost on the bond issues that built and expanded
Truscott in both 1989 and 2001.
The Truscott development was originally constructed in 1989 and was renovated and expanded to approximately 100 units in
2001. This apartment complex is owned by the City of Aspen and managed by the Aspen - Pitkin County Housing Authority and
provides worker housing to residents who meet employment and income category qualifications.
A multi -year rental rate increase has stabilized the financial condition of this Fund. The current operating subsidy of about
$700,000 a year will no longer be required after 2016. These rent increases also closes the gap between Truscott 1 and II reducing
tenant movement between buildings and lower operational costs associated with unit turn over. The 2001 B Bonds were retired
January 2008 and the 2001 A GO bonds were advanced refunded in 2009. Both changes in Truscott's debt helped the overall
financial condition of this fund.
Revenues
Transfers
39% Other
1%
Interest Income
1%
Laundry Fee Rental Income
0
1 ° 58%
Expenditures
Debt Service
46%
Other
10%
Payroll
12%
Capital
13% Professional Services
19%
2012 Proposed Budget - 31
491 - TRUSCOTT HOUSING FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $672,792 $861,407 $1,069,134 $1,510,692 $1,188,392 (21 %)
Revenues
Rental Income $990,020 $977,383 $980,296 $980,000 $1,041,000 6%
Late Fees $12,027 $12,096 $12,053 $3,000 $6,500 117%
Parking Boot Fees $0 $1,200 $1,034 $500 $1,500 200%
Refund of Expenditure $1,052 $2,250 $3,620 $9,300 $1,600 (83%)
Laundry Fees $23,647 $11,719 $15,383 $20,200 $21,700 7%
Interest Income $58,290 $54,727 $24,331 $11,900 $11,900 0%
Security Deposit Charges $2,350 $725 $1,848 $2,100 $3,800 81%
Transfers $5,017,480 $7,098,955 $742,620 $710,000 $705,600 (1 %)
Total Revenues $6,104,867 $8,159,056 $1,781,185 $1,737,000 $1,793,600 3%
Expenditures
Payroll $122,704 $163,616 $173,001 $168,600 $177,800 5%
Travel and Training $1,756 $3,446 $3 $1,000 $5,500 450%
Professional Services $291,575 $278,151 $240,318 $293,800 $289,000 (2 %)
Materials and Supplies $55,016 $35,179 $55,853 $26,100 $33,200 27%
Housing Overhead $47,520 $49,750 $48,920 $49,200 $52,100 6%
Overhead - General Fund $23,540 $23,560 $54,210 $58,500 $54,000 (8 %)
Transfers $30,940 $31,690 $4,780 $5,500 $12,000 118%
Supplemental $0 $0 $0 $17,200 $1,500 (91 %)
Debt Service $4,982,857 $7,097,604 $709,296 $710,000 $705,600 (1%)
Capital $360,980 $257,372 $46,573 $729,400 $198,200 (73 %)
Total Expenditures $5,916,886 $7,940,368 $1,332,955 $2,059,300 $1,528,900 (26%)
GAAP Basis Adjustment $635 ($10,961) ($6,673) $0 $0 N/A
Change to Fund Balance $188,615 $218,688 $448,230 ($322,300) $264,700 N/A
(Ending Fund Balance $861,407 $1,069,134 $1,510,692 $1,188,392 $1,453,092 22% I
i
111 i . _ --
it 11 III ` :a .
r
;11. 1 1 0ft
' _" . � tl j
2012 Proposed Budget - 32
492 - MAROLT HOUSING FUND
2012 Revenues $863,000
2012 Expenditures $1,197,100
2012 Estimated Ending Fund Balance $176,579
Description
Marolt Housing is a dormitory style development and provides temporary seasonal housing for employees working in Pitkin
County during the winter ski season and music school students in the spring and summer.
Summary
Rental revenue from tenants provides the largest single source of annual revenues.
Constructed in 1989, Marolt Ranch provides seasonal housing to students of the Aspen Music Festival and School (AMFS) each
summer and during the winter, Marolt housing is available for employees of the Aspen Ski Company and other employees of local
businesses. The development is owned by the City and operated by the Aspen - Pitkin County Housing Authority (APCHA) under the
terms of an operating agreement between APCHA, the City and AMFS.
Maintaining a winter occupancy rate necessary to meet the fund's financial goals and ongoing major maintenance issues provide
the biggest challenges for this housing operation. Lower winter occupancy and scheduled roof replacement over the next 2 years
has created a negative ending fund balance at the end of 2013. Staff is working on a resolution to this deficit. In the 2010/11
winter season occupancy reached 100% in December and this occupancy level is forecasted to continue into the future.
However, as occupancy levels increase so do operating costs for utilities and services. 2011 is forecasted to be $35,000 higher
than 2010 with these costs continuing into the future. As a result of the above the fund balance is decreasing by 65% in 2012.
Revenues
Cafeteria Lease and Utility, Music, Parking,
Utilities Misc.
2% 6%
Interest
Permanent Rent 1 %
1%
Seasonal Rent
90%
Expenditures
Other
Debt Service 33%
36% AI Payroll
Transfers 13%
0% Professional Services Utilities
8% 10%
2012 Proposed Budget - 33
492 - MAROLT HOUSING FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $1,235,616 $1,403,520 $1,004,085 $802,279 $510,679 (36 %)
Revenues
Seasonal Rent $1,080,357 $806,837 $611,044 $756,900 $780,000 3%
Permanent Rent $23,924 $21,472 $30,020 $8,700 $8,900 2%
Cafeteria Lease and Utilities $12,000 $26,754 $17,333 $17,500
$17,500 0%
Utility, Music, Parking, Misc. $65,782 $51,972 $43,426 $56,000 $52,500 (6 %)
Interest $112,654 $67,697 $18,561 $5,100 $4,100 (20 %)
Transfers $9,390 $0 $0 $26,800 $0 N/A
Total Revenues $1,304,108 $974,732 $720,384 $871,000 $863,000 (1 %)
Expenditures
Payroll $135,612 $94,507 $144,704 $147,300 $156,200 6%
Travel and Training 50 $399 $0 $0 $0 N/A
Utilities $124,973 $99,777 $79,907 $111,000 $114,000 3%
Professional Services $93,918 $127,524 $88,448 $93,200 $93,400 0%
Materials and Supplies $27,928 $28,158 $16,711 $28,400 $27,100 (5 %)
Overhead - General Fund $18,620 $18,650 $54,340 $49,900 $51,000 2%
Overhead - IT 50 $0 $0 $3,800 $4,500 18%
Supplemental -2011 Ord # 18 $0 $0 $0 $5,200 $0 N/A
Housing Overhead $61,400 $41,415 $58,820 $32,000 $39,400 23%
Capital $216,060 $84,127 $41,081 $246,700 $271,200 10%
Transfers 521,990 $441,660 $5,060 $4,500 $5,000 11%
Debt Service $436,348 $438,750 $433,999 $440,600 $435,300 (1 %)
Total Expenditures $1,136,850 $1,374,967 $923,070 $1,162,600 $1,197,100 3%
GAAP Basis Adjustment $646 $798 $881 $0 $0 N/A
Change to Fund Balance $167,258 ($400,235) ($202,686) ($291,600) ($334,100) (15 %)
(Ending Fund Balance $1,403,520 $1,004,085 $802,279 $510,679 $176,579 (65 %) I
.. - 7 'r , Itt
K:
r J T lip.
2012 Proposed Budget - 34
501- EMPLOYEE HEALTH INSURANCE FUND
2012 Revenues $4,648,500
2012 Expenditures $4,773,000
2012 Estimated Ending Fund Balance $375,705
Description
Internal service funds are used to account for the financing of goods and services provided by one department or agency to other
departments or agencies of the government and to other government units, on a cost reimbursement basis. The Employee Health
Insurance Fund accounts for insurance contributions and claims paid to beneficiaries.
Summary
The City's General Fund and various other City funds contribute to this Fund, along with individual city employees and these
contribution revenues are used to pay for health insurance costs and claims administered by the City's third -party health care
administrator.
Maintaining a reasonable health benefit reserve and containing health care costs are the primary goals of this fund. The fund
balance is decreasing 25% in 2012 in order to minimize the employee premiums.
Revenues
Refund of Expenditure Other
4% 0%
Employer Premiums Employee Premiums
81% 15%
Expenditures
Premiums - ING Basic
2%
Consulting - Lockton
1% Contr. To Health Savings
Preventative Consulting 4%
1% Administration - RCI
9%
Claims Paid - MSA & RCI
83%
2012 Proposed Budget - 35
501- EMPLOYEE HEALTH INSURANCE FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $1,839,880 $1,001,642 $555,314 $736,605 $500,205 (32 %)
Revenues
Insurance Contributions $0 $0 $0 $0 $0 N/A
Reliance Premiums $19,177 $25,001 $0 $0 $0 N/A
Employee Premiums $567,898 $615,706 $550,242 $635,000 $699,000 10%
Employer Premiums $2,633,843 $2,892,397 $2,884,447 $3,097,000 $3,739,000 21%
Retired Employee Premiums $4,727 $3,323 $363 $600 $500 (17 %)
COBRA Revenues $0 $13,207 $5,492 $5,000 $5,000 0%
Refund of Expenditure $349,109 $1,014,234 $156,103 $200,000 $200,000 0%
Investment Interest $150,156 $46,343 $12,771 $9,000 $5,000 (44 %)
Transfers $0 $0 $0 $0 $0 N/A
Total Revenues $3,724,909 $4,610,211 $3,609,419 $3,946,600 $4,648,500 18%
Expenditures
Preventative Consulting $49,720 $33,931 $36,926 $30,000 $50,000 67%
Consulting - Lockton $42,000 $42,000 $42,000 $42,000 $42,000 0%
Premiums - VSP $0 $0 $0 $0 $0 N/A
Premiums - ING Basic $86,352 $108,587 $103,242 $107,000 $110,000 3%
Premiums ING Supplemental $20,196 $0 $0 $0 $0 N/A
Administration - RCI $354,043 $378,868 $399,175 $434,000 $440,000 1%
Claims Paid - MSA & RCI $2,970,944 $4,480,041 $2,732,977 $3,400,000 $3,944,000 16%
Employee Disability Distr $0 $13,113 $0 $0 $0 N/A
Contr. To Health Savings $0 $0 $113,808 $170,000 $187,000 10%
Transfers $1,039,890 $0 $0 $0 $0 N/A
Total Expenditures $4,563,145 $5,056,540 $3,428,128 $4,183,000 $4,773,000 14%
Change to Fund Balance ($838,237) ($446,328) $181,291 ($236,400) ($124,500) 47%
!Ending Fund Balance $1,001,642 $555,314 $736,605 $500,205 $375,705 (25 %) 1
Net Claims $2,621,835 $3,465,807 $2,576,874 $3,200,000 $3,744,000
Annual Change 20% 32% (26 %) 24% 17%
Pirr:.:::„ _ ' ,► 5.;'
'' S L i
- a. .. • _.... . ,,,
? IF ' iiik . ,
i / I 'Iv --- i - ./. . -.11* ' 'id. .
1 I
" '�; , err
' or -. ' ■ ■ ! • ■
• i
%
•
2012 Proposed Budget - 36
•
505 - EMPLOYEE HOUSING FUND
2012 Revenues $1,266,100
2012 Expenditures $222,500
2012 Estimated Ending Fund Balance $2,213,420
Description
Internal service funds are used to account for the financing of goods and services provided by one department or agency to other
departments or agencies of the government and to other government units, on a cost reimbursement basis. The Employee
Housing Fund accounts for all sales transactions of City owned housing units and the future construction and maintenance of all
rental and sale units for City employees.
Summary
This fund receives its revenue from contributions made by City Funds proportionate to their workforce needs. These contribution
revenues will be used to pay for construction of new units in future years moving towards the City's objective of housing 45% of
all full time City employees. The reductions in transfers beginning in 2009 due to the status of the economy has been restored in
2012 for all funds except the Golf and Marlot Funds. These Funds are still financially challenged in the upcoming year.
Over the past couple years, it has become harder to recruit and retain qualified employees due to the shortage of affordable
housing options. During 2008 budget development, City Council identified the creation of affordable for sale and rental units for
City staff as one of their top priorities and long -term goals. Future issues faced by the City will include land costs, construction
costs and the cost of in town units versus down valley units. The fund balance is increasing by 89% as spending on capital projects
has been deferred.
Revenues
Transfer: Water Utility Transfer: Parking Fund
Fund 5% Other Transfers
Transfer: Wheeler 11% 17%
Opera House Fund Rental Income
6% 6%
Interest Income
1%
Transfer: Parks and
Open Space Fund
11% Transfer: General Fund
43%
Expenditures
Professional Services
29%
Payroll
19%
Materials and Supplies
9%
Capital
43%
2012 Proposed Budget - 37
505 - EMPLOYEE HOUSING FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $0 51,974,119 52,697,857 $283,720 $1,169,820 312%
Revenues
Rental Income 591,928 $106,408 592,767 $93,600 $76,400 (18 %)
Interest Income 575,792 $95,144 $26,451 $2,300 511,700 409%
Refund of Expenditure $0 50 53,488 50 50 N/A
Sale of Employee Housing Units 5154,146 5360,948 $564,987 51,007,000 $0 N/A
Transfer: General Fund $529,260 $200,000 $120,000 $240,000 $541,000 125%
Transfer: Parks and Open Space Fund 5214,960 $221,190 565,260 $63,900 $137,000 114%
Transfer: Wheeler Opera House Fund 574,910 $77,830 $38,170 573,100 576,000 4%
Transfer: Parking Garage Fund $21,990 $0 $0 50 50 N/A
Transfer: Transportation Fund 50 $9,150 $4,000 58,400 $20,000 138%
Transfer: Kids First Fund 530,940 531,130 $17,440 515,400 $35,000 127%
Transfer: Stormwater Fund $0 50 $9,690 $9,200 $20,000 117%
Transfer: Water Utility Fund $40,720 $43,440 $65,900 $129,000 5136,000 5%
Transfer: Electric Utility Fund 518,730 $18,830 $16,920 515,400 530,000 95%
Transfer: Renewable Energy Fund N/A $0 56,110 $4,600 $11,000 139%
Transfer: Parking and Transportation Fund $40,720 50 50 50 50 N/A
Transfer: Parking Fund 50 558,910 $31,810 $40,500 $66,000 63%
Transfer: Golf Course Fund 518,730 518,830 $14,200 521,700 $23,000 6%
Transfer: Truscott Housing Fund $30,940 $31,130 $4,780 $5,500 $12,000 118%
Transfer: Marolt Housing Fund $21,990 524,610 $5,060 $4,500 $5,000 11%
Transfer: IT Fund 50 $0 50 $33,800 $66,000 95%
Transfer: Housing Project $1,022,738 50 $0 50 $0 N/A
Total Revenues $2,388,494 $1,297,550 $1,087,032 $1,767,900 $1,266,100 (28%)
Expenditures
Payroll 51,286 $49,670 535,272 540,800 $42,700 5%
Professional Services $2,870 517,042 $56,368 $68,700 564,800 (6 %)
Materials and Supplies 5132,210 $9,298 514,940 $15,000 $20,000 33%
Capital $492,146 $497,272 51,094,589 $757,300 $95,000 (87 %)
Transfers $0 5530 $2,300,000 50 50 N/A
Total Expenditures $628,514 $573,812 $3,501,169 $881,800 $222,500 (75 %)
Change to Fund Balance $1,759,979 $723,738 ($2,414,137) $886,100 $1,043,600 18%
Change in Accounting Policy $214,140
'Ending Fund Balance $1,974,119 $2,697,857 $283,720 $1,169,820 $2,213,420 89% I
x
1
ilia l�� r•
..) : .' ). '', , - - ill i OR I
ei r l i
AL
• . - - 7 .. - -, -- "••\ C
w t I r
M I L
ir - �l
2012 Proposed Budget - 38
510 - INFORMATION TECHNOLOGY FUND
2012 Revenues $3,104,000
2012 Expenditures $3,103,600
2012 Estimated Ending Fund Balance $41,640
Description
Internal service funds are used to account for the financing of goods and services provided by one department or agency to other
departments or agencies of the government and to other government units, on a cost reimbursement basis. The Information
Technology Fund provides management, operational and customer support services to maximize the use of information systems
by City and County staff. The fund provides generic server, database and implementation support services and telephone system
operations and support in order to maximize the use of networked data and communications application systems by
departmental customers. The fund also provides Geographic Information Systems (GIS) mapping and data support to City and
County and completes specific City and County projects. In addition, the fund serves external customers and citizens.
Summary
This fund receives its revenue from contributions made by City Funds and the County proportionate to their workforce usage and
actual capital projects. As an internal service fund, there will be more accountability, growth management, transparency,
financial flexibility and cost of ownership. For example, the surcharge for capital projects will allow the fund to hire additional
labor if necessary to complete capital projects in a timely manner. IT operations are approximately 59% City and 41% County. GIS
Operations are approximately 33.3% City and 66.7% County. GIS services are also used and paid for by outside entities; in 2011
there was a large request for information increasing GIS revenue. This was viewed as a one time request and not budgeted to
continue in 2012; therefore, GIS revenues are 26% lower in 2012 from 2011.
Funds are charged based on their usage of Network, PC, Workgroup, Phone and GIS services. All capital projects that were
formerly financed through the Asset Management Plan Fund (000) are now paid for by all City funds by allocating the capital
accordingly. There are three capital projects greater than $100,000 in the 510 Fund. In addition, the Information Technology staff
will manage two other capital projects greater than $100,000 that are appropriated in other funds.
Revenues
County
Reimbursements - Interest Income City Reimbursements -
Overhead Payments - Capital Projects 0% Capital Projects
County 9% 13%
29 °O GIS Revenue
2%
Overhead Payments -
Capital Payments - City City
12% 35%
Expenditures
Payroll
44%
Professional Services
10%
Training
0%
Materials and Supplies
GF Overhead 1%
9%
Transfers Capital
2%
34%
2012 Proposed Budget - 39
INTERNAL PROPRIETARY FUND
510 - INFORMATION TECHNOLOGY FUND
Audit Audit Audit Audit Forecast Budget 2011 -2012
2007 2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance N/A N/A N/A N/A $0 $41,240 N/A
Revenues
GIS Revenue N/A N/A N/A N/A $74,000 $55,000 (26 %)
IT Revenue - Fees N/A N/A N/A N/A $9,000 $0 N/A
Overhead Payments - City N/A N/A N/A N/A $1,083,000 $1,088,000 0%
Capital Payments - City N/A N/A N/A N/A $729,870 $389,800 (47 %)
Overhead Payments - County N/A N/A N/A N/A $902,000 $907,000 1%
Interest Income N/A N/A N/A N/A $500 $400 (20 %)
City Reimbursements - Capital Projects N/A N/A N/A N/A $296,180 $396,900 34%
County Reimbursements - Capital Projects N/A N/A N/A N/A $339,250 $266,900 (21 %)
Transfers in / 2011- Ord. # 18 N/A N/A N/A N/A $440,410 $0 N/A
Total Revenues N/A N/A N/A N/A $3,874,210 $3,104,000 (20 %)
Expenditures
Payroll N/A N/A N/A N/A $1,395,400 $1,370,400 (2 %)
Training N/A N/A N/A N/A $15,000 $16,100 7%
Professional Services N/A N/A N/A N/A $304,500 $299,500 (2 %)
Materials and Supplies N/A N/A N/A N/A $17,600 $17,000 (3 %)
GF Overhead N/A N/A N/A N/A $261,000 $281,000 8%
Supplemental - 2011 - Ord # 18 N/A N/A N/A N/A $440,400 $0 N/A
Capital N/A N/A N/A N/A $1,365,300 $1,053,600 (23 %)
Transfers N/A N/A N/A N/A $33,770 $66,000 95%
Total Expenditures N/A N/A N/A N/A $3,832,970 $3,103,600 (19 %)
Change to Fund Balance N/A N/A N/A N/A $41,240 $400 (99%)
(Ending Fund Balance N/A N/A N/A N/A $41,240 $41,640 1% I
i r
1 9�
7f'
` NM' air mg ■ s1l_ 10
y
"Mal
_ - 1 4 - - • g3 G7 .: [1
� S U
' TWA 2 )-4 "^–v R
' P 1W v.ci m,m ua<.�.�..�as ca., -v..c �9n e��cs,�.. o .mxn
:�� :yi f � ` :V.' < � 8 FN� �r '
��'
� PDD 1 w7`p."5 . . • �1 U. c. '"
�� II • \ • • �i►Ii
■ a 1=1. 1=1. JEN v swim swim r _
� ,N,�jP .P .,. SPA � L
T om '• �i/ O41M � $T $ 1 /11.111.111.11111111111 �. N ame Crw. 'WQB 7 ' ' j ; - � a OEM =OW
„y+. r 4, 17'
° 1 \ 4' LP PUDM� s r �� .-7y a . Mme_ '. .w. �_ - — ...�.- g _ ',L." c . - .' y
I
'1 2012 Proposed Budget - 40
TRUST FIDUCIARY FUND
620 - HOUSING ADMINISTRATION FUND
2012 Revenues $1,530,600
2012 Expenditures $1,586,100
2012 Estimated Ending Fund Balance $1,283,199
Description
The fund's mission is to provide complete, consistent, friendly and reliable workforce housing services to the public and
comprehensive and accurate information to the elected officials and appointed boards, which results in the effective operation of
enforcement, rentals, sales, land use review, public relations and office management.
Summary
Rental payments are collected to offset the cost of managing the property. Sales and Application Fees are estimated to decline
because there is no new housing being sold.
The Housing Authority supplies affordable housing for permanent residents employed in the City or the County, senior citizens and
disable persons and other population segments residing or needing to reside in the Roaring Fork Valley. The City and County
equally provide the net operating subsidy for the funds operations. The Authority's employees are employees of the City and are
subject to the City's personnel policies and guidelines.
The Professional Services expenses decreased 29% as a result of reduction in legal fees for enforcement of housing rules and
regulations. The compliance goals for this program were met.
Revenues
ACI and TII Mgmt Fee Reimbursement Tx Marolt Fee
4% Credit - ACI & TII 3% Truscott I Fee
15% 3%
Sales and Application
Fees
14%
Foreclosure
33%
City and Pitkin County
Subsidy Other
25% 3%
Expenditures
IT - Overhead Foreclosure
Overhead 3% 32%
Other
3%
Professional Services
10%
Payroll
47%
2012 Proposed Budget - 41
620 - HOUSING ADMINISTRATION FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $1,178,961 $1,193,327 $1,416,614 $1,282,999 $1,338,699 4%
Revenues
City and Pitkin County Subsidy $368,292 $397,754 $405,709 $378,000
$378,000 0%
Sales and Application Fees $228,589 $323,174 $327,873 $215,000
$214,000 (0%)
First Time Sale Revenue $4,040 $37,502 $0 $0 $0 N/A
ACI and TII Mgmt Fee $64,978 $65,663 $65,510 $65,000 $65,000 0%
Project Revenue (Centennial) $12,442 $31,858 $11,523 $12,200 $11,500 (6 %)
Reimbursement Tx Credit - ACI & TII $210,347 $223,035 $215,468 $215,000 $228,000 6%
Marolt Fee $61,400 $38,838 $58,820 $31,900 $39,400 24%
Truscott I Fee $47,520 $49,750 $51,240 $49,200 $52,100 6%
Smuggler Fee $2,620 $1,900 $2,950 $2A00 $2,400 0%
Land Review Fee $4,846 $4,412 $3,475 $2,000 $2,000 0%
Transfers $32,570 $0 $0 $0 $0 N/A
Foreclosure $0 $0 $128,170 $791,000 $500,000 (37 %)
Investment Income $0 $28,743 $23,254 $13,100 $13,400 2%
Other Revenues $51,349 $84,926 $28,719 $25,800 $24,800 (4 %)
Total Revenues $1,088,994 $1,287,555 $1,322,712 $1,800,600 $1,530,600 (15 %)
Expenditures
Payroll $707,544 $718,861 $691,259 $704,000 $738,000 5%
Travel and Training $11,176 $10,064 $12,206 $13,000 $13,000 0%
Professional Services $215,668 5205,735 $220,764 $228,000 $163,000 (29 %)
Overhead $100,688 $100,810 $84,650 $73,800 $78,000 6%
IT - Overhead $0 $0 $0 $47,900 $52,400 9%
Materials and Supplies $25,779 514,901 $17,305 $17,800 $17,400 (2 %)
Contributions Client Legal Services $12,000 $12,000 $12,000 $12,000 $12,000 0%
Capital $1,773 $1,896 $779 $6,300 $12,300 95%
Foreclosure $0 $0 $394,785 $500,000 $500,000 0%
Supplemental $0 $0 $22,580 $142,100 $0 N/A
Total Expenditures $1,074,629 $1,064,268 $1,456,328 $1,744,900 $1,586,100 (9 %)
Change to Fund Balance $14,365 $223,287 ($133,615) $55,700 ($55,500) N/A
!Ending Fund Balance $1,193,327 51,416,614 $1,282,999 $1, $1,283,199 (4 %) ,
j cu V'
. _ E. = .„ pian,,,,,, ••. ..• gs
., -, . ,,,,, X ;
- 1111friduisNiststr::411111DIPH.1.---':: ---.4 ' ‘: ! 0
4 a 1 �. tlNQ�n trlUNNIWO
K ... w.. / •.,rr.... (5 / .�.,
2012 Proposed Budget - 42
622 - SMUGGLER HOUSING FUND
2012 Revenues $51,500
2012 Expenditures $37,300
2012 Estimated Ending Fund Balance $182,558
Description
The fund manages work force housing rented to qualified citizens as per the Aspen and Pitkin County Affordable Housing
guidelines. The 11 -unit complex is located on the east edge of town, at the base of Smuggler Mountain.
Summary
Rental payments are collected to offset the cost of managing the property. The Smuggler Mountain Apartments are owned and
managed by the Housing Authority.
Units are rented to qualified, low- income employees conforming to the current Category 1 Guidelines. Category 1 housing meets
the needs of those with the least resources. For example for one adult, annual income must be below $32,000 and net assets must
not be in excess of $100,000. This complex is the only Category 1 rental property in Aspen.
The units range in size from 400 square foot studios to 880 square foot two bedrooms and are rented without furnishings. Tenants
pay for electricity, electric heat, telephone and cable T.V. There is a common coin -op laundry facility for residents and one parking
space per unit. The 2012 capital budget is zero because the future of this property unknown.
Revenues
Rental Revenue
95%
Late Rental Fee Laundry
0% 2%
Interest
3%
Expenditures
Professional Services
41%
Capital
0%
Other
7%
Overhead
24% Payroll
28%
2012 Proposed Budget - 43
622 - SMUGGLER HOUSING FUND
Audit Audit Audit Forecast Budget 2011 -2012
2008 2009 2010 2011 2012 % Chg
Beginning Fund Balance $257,388 $263,257 $271,726 $251,788 $168,358 (33%)
Revenues
Rental Revenue $48,175 $52,397 $59,806 $47,800 $48,500 1%
Late Rental Fee $0 $150 $50 $200 $200 0%
Laundry $795 $308 $849 $800 $800 0%
Interest $20,125 $11,486 $4,567 $2,300 $1,700 (26 %)
Other Revenues $200 $378 $2,032 $200 $300 50%
Transfers $1,070 $0 $0 $0 $0 N/A
Total Revenues $70,365 $64,719 $67,303 $51,300 $51,500 0%
Expenditures
Payroll $12,431 $12,889 $10,361 $9,800 $10,400 6%
Administration Fee $2,620 $1,900 $2,390 $2,400 $2,400 0%
Overhead $8,010 $8,020 , $18,840 $15,500 $9,000 (42 %)
Travel and Training $0 $3 $0 $200 $200 0%
Professional Services $16,845 $23,018 $16,752 $15,000 $15,200 1%
Materials and Supplies $703 $4,989 $2,583 $100 $100 0%
Capital $23,888 $5,431 $36,315 $91,730 $0 N/A
Total Expenditures $64,497 $56,250 $87,241 $134,730 $37,300 (72 %)
Change to Fund Balance $5,868 $8,469 ($19,938) ($83,430) $14,200 N/A
(Ending Fund Balance $263,257 $271,726 $251,788 $168,358 $182,558 8% I
a
' R 4 . .
. .
J ,
�1S l -
j o1/416 74. N J " i - i ii i lirk
, • , . . 7
ti, ..Pi
y . - � :
h r
- ..r , •
2012 Proposed Budget - 44
SPECIAL MEETING CALLED FOR EXECUTIVE SESSION
Date October 3, 2011 Call to order at: m.
N...,,.t. Councilmembers present: Councilmembers not present:
Eck Ireland ❑ Mick Ireland
ZSteve Skadron n Steve Skadron
am Frisch n Adam Frisch
[o rre ❑ Torre
Derek Johnson Derek Johnson
II. Motion to go into executive session by f 4 (IA( ; seconded by \‘., (0 tL{A_
Other persons present:
AGAINST:
F [ M ick Ireland ❑ Mick Ireland
r eve Skadron n Steve Skadron
� dam Frisch n Adam Frisch
orre ❑ Torre
L Derek Johnson ❑ Derek Johnson
III. MOTION TO CONVENE EXECUTIVE SESSION FOR THE PURPOSE OF DISCUSSION OF:
C.R.S. 24 -6- 402(4)
(a) The purchase, acquisition, lease, transfer, or sale of any real, personal, or other property interest
0 onferences with an attorney for the local pubf body for the purposes of receiving legal advice on specific legal
dues ions. b lA ro it_
(c) Matters required to be kept confidential by federal or state law or rules and regulations.
(d) Specialized details of security arrangements or investigations, including defenses against terrorism, both domestic
and foreign, and including where disclosure of the matters discussed might reveal information that could be used for the
purpose of committing, or avoiding prosecution for, a violation of the law;
(e) Determining positions relative to matters that may be subject to negotiations; developing strategy for negotiations;
and instructing negotiators;
(f) (I) Personnel matters except if the employee who is the subject of the session has requested an open meeting, or if
the personnel matter involves more than one employee, all of the employees have requested an open meeting.
IV. ATTESTATION:
The undersigned attorney, representing the Council and being present at the executive session, attests that the
subject of the unrecorded portions of the session constituted confidential attorney - client comm. nication:
The undersigned chair of the executive session attests that the discussions in this executive session were limited
to the topic(s) described in Section III, above.
'44.,
Adjourned at: 6 ,w1,