HomeMy WebLinkAboutresolution.council.101-13 RESOLUTION NO. 101
(SERIES OF 2013)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO ADOPTING THE 2014 MUNICIPAL BUDGET AND
AUTHORIZING APPROPRIATIONS PURSUANT THERE TO
WHEREAS, the City Manager, designated by Charter to prepare the budget, has
prepared and submitted to the Mayor and City Council the Annual Budget for the City of
Aspen, Colorado for the fiscal year beginning January 1, 2014 and ending December 31,
2014; and
WHEREAS, in accordance with Section 9.8 of the Home Rule Charter, the
Council shall adopt the budget by Resolution on or before the final day established by
law as December 15th for certification of the ensuing year's tax levy to the county; and
WHEREAS, Article 9 of the Aspen Home Rule Charter requires the adoption of
an annual budget with the opportunity for the public to participate at a public hearing at
least 15 days prior to the statutory deadline for certification of the ensuing year's tax levy
to the county, it is the intent of the Council by adoption of this budget to follow the
requirements of City Charter; and
WHEREAS, the budget as submitted in Exhibit A sets forth the estimated fiscal
data of appropriated expenditures and estimated revenues for the calendar year of 2014.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO:
SECTION 1
That the budget for the City of Aspen, Colorado for the fiscal year 2014 as submitted in
attachment hereto as Exhibit A and incorporated herein by this reference, be and is
hereby adopted, which option all constituted appropriations of the amounts specified
therein as expenditures amounting to $102,810,070, and the estimated budget revenue
requirements of$105,735,156 both in Exhibit A, is hereby declared to be the amount of
revenue necessary to be raised by the tax levy and income from all other sources not
inclusive of fund balance at the beginning of the year of$70,342,500 for total resources
of$176,077,656 to pay the expenses and certain indebtedness, and provide a reasonable
fund balance at the close of the fiscal year beginning January 1, 2014 and ending
December 31, 2014.
2014 Proposed Budget-3
SECTION 2
That the City Council hereby authorizes and directs the City Manager to enter into such
contracts and execute such documents on behalf of the City as may be necessary and
customary to expend the funds appropriated for all capital acquisitions within its budget,
and that Council further directs the City Manager to inform it of such contracts and
documents promptly at its regularly scheduled Council meetings.
Adopted this 11, day of November 2013
Steve�SkadVn, Mayor
1, KATHRYN KOCH, duly appointed and acting City Clerk of the City of Aspen,
Colorado, do hereby certify that the foregoing is a true and accurate copy of the
Resolution adopted by the City Council at its meeting held on the I 1 day of November,
2013.
Kathryn Ko 91 City Clerk
2014 Proposed Budget-4
TOTAL CITY OF ASPEN 2014 APPROPRIATIONS BY FUND
Forecasted Total 2014 Revenue Total 2014 2014 Ending
Fund Name Opening Balance Budget Expenditure Budget Balance
General Governmental Fund
General Fund $13,128,031 $25,294,000 $23,829,530 $14,592,501
Subtotal General Gov't Funds $13,128,031 $25,294,000 $23,829,530 $14,592,501
Special Revenue Governmental Funds
Parks and Open Space Fund $4,590,063 $9,929,200 $12,475,900 $2,043,363
Wheeler Opera House Fund* $25,973,528 $4,127,276 $3,649,710 $26,451,094
City Tourism Promotion Fund $87,020 $2,549,700 $2,636,700 $20
Transportation Fund $2,952,719 $2,024,300 $2,100,950 $2,876,069
Housing Development Fund** ($1,891,923) $18,944,600 $16,553,830 $498,847
Kids First Fund $3,888,950 $1,699,000 $1,693,600 $3,894,350
Stormwater Fund $2,337,112 $1,035,400 $989,720 $2,382,792
Subtotal Special Revenue Funds $37,937,469 $40,309,476 $40,100,410 $38,146,535
Debt Service Governmental Fund
Debt Service Fund $181,061 $3,298,510 $3,299,940 $179,631
Subtotal Debt Service Fund $181,061 $3,298,510 $3,299,940 $179,631
Capital Projects Governmental Funds
Asset Management Plan Fund $4,007,833 $4,161,000 $3,021,200 $5,147,633
Subtotal Capital Fund $4,007,833 $4,161,000 $3,021,200 $5,147,633
Enterprise Proprietary Funds
Water Utility Fund $2,470,039 $7,067,600 $7,572,260 $1,965,379
Electric Utility Fund $3,768,770 $7,498,500 $7,632,850 $3,634,420
Parking Fund $567,397 $4,063,560 $3,617,790 $1,013,167
Golf Course Fund $154,357 $1,968,600 $1,890,870 $232,087
Truscott Housing Fund $826,354 $1,123,900 $1,662,640 $287,614
Marolt Housing Fund $134,557 $1,138,700 $1,155,140 $118,117
Subtotal Enterprise Funds $7,921,474 $22,860,860 $23,531,550 $7,250,784
Internal Proprietary Funds
Employee Health Insurance Fund $1,754,737 $4,641,800 $4,665,000 $1,731,537
Employee Housing Fund $3,262,863 $1,005,500 $322,160 $3,946,203
Information Technology Fund $177,955 $2,270,700 $2,262,240 $186,415
Subtotal Internal Service Funds $5,195,555 $7,918,000 $7,249,400 $5,864,155
Trust Fiduciary Funds
Housing Administration Fund $1,675,973 $1,827,610 $1,715,890 $1,787,694
Smuggler Housing Fund $295,104 $65,700 $62,150 $298,654
Subtotal Trust and Agency Funds $1,971,077 $1,893,310 $1,778,040 $2,086,347
ALL FUNDS $70,342,500 $105,735,156 $102,810,070 $73,267,586
Less Interfund Transfers $17,340,900 $17,340,900
NET APPROPRIATIONS $70,342,500 $88,394,256 $85,469,170 $73,267,586
*Wheeler balances are shown on an adjusted GAAP basis
**Housing Development open balance assumes 100%of 2013 budget authority is spent in full. Estimate of$5 to$6 million will be re-
appropriated from 2013 to 2014 creating a positive fund balance at the start of 2014.
2014 Proposed Budget-5