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agenda.council.worksession.20221010
AGENDA CITY COUNCIL WORK SESSION October 10, 2022 4:00 PM, City Council Chambers 427 Rio Grande Place, Aspen I.Work Session I.A 2023 Budget Deliberation: Tourism Promotion Fund; Police, Special Events, & Recreation Departments; Housing Development Fund; Employee Housing Fund; APCHA Administration Fund; Smuggler Fund; Truscott I Fund; Truscott II Fund; Marolt Fund; Aspen Country Inn Fund; Aspen Mini Storage Fund Zoom Meeting Instructions Join from a PC, Mac, iPad, iPhone or Android device: Please click this URL to join: https://us06web.zoom.us/j/85904221721? pwd=RmFnTGNobFFRZDJGem1RWW4yTVBXQT09 Passcode: 81611 Or join by phone: Dial: US: +1 346 248 7799 Webinar ID: 859 0422 1721 Passcode: 81611 International numbers available: https://us06web.zoom.us/u/ktHrsN0QI Oct 10 MASTER FINAL.pdf 1 10/5/2022 1 2022 BUDGET DEVELOPMENT Tourism Promotion Fund (130 Fund) OCTOBER 10, 2022Pete Strecker, Finance Director Revenues & Expenditures Trends 2 •Lodging Tax: 4% Growth •25% Transportation Fund •75% Tourism Promotion •Target Reserve: $300,000 •$100k Payments to Rebuild 2023 2024 2024 2024 2025 Request Projection Projection Projection Projection Opening Balance $3 $100,003 $100,003 $100,003 $200,003 Lodging Tax $3,995,250 $4,155,060 $4,155,060 $4,155,060 $4,321,260 Private Contribution ‐Reserves $100,000 $100,000 $100,000 $100,000 $100,000 Investment Income $0 $2,000 $2,000 $2,000 $4,000 Total Revenues $4,095,250 $4,257,060 $4,257,060 $4,257,060 $4,425,260 Marketing and Tourism Promotion $3,995,250 $4,157,060 $4,157,060 $4,157,060 $4,325,260 Total Uses $3,995,250 $4,157,060 $4,157,060 $4,157,060 $4,325,260 Ending Fund Balance $100,003 $200,003 $200,003 $200,003 $300,003 x Change in Fund Balance $100,000 $100,000 $100,000 $100,000 $100,000 1 2 2 10/5/2022 2 3 Summary Tourism Promotion Questions FY23 Budget & Compass Report Police Department (Fund 001) Linda Consuegra - Assistant Chief of Police Bill Linn – Assistant Chief of Police October 10, 20224 3 4 3 10/5/2022 3 2021/2022 COMPASS WINS 5 Community Impact Top 3 Projects Staff Wellness Electric Vehicle PilotCommunity Focus Groups •Peer Support Program •Increase use of Employee Assistance Program (EAP) •Environmentally Friendly •Community Support •Innovation •Community Feedback •Customer Focus •Evolved Strategy •Innovation 2022/2023 COMPASS HIGHLIGHTS 6 PROJECTS: •Establish Funding Committee •Develop Strategic Plan GOAL: Improve E911 Services To The Community 5 6 4 10/5/2022 4 2022/2023 COMPASS HIGHLIGHTS 7 PROJECTS: •Implicit Bias Training •Review Victim Services GOAL: Foster Culture Of Respect 2022/2023 COMPASS HIGHLIGHTS 8 PROJECTS: •Community Survey Action Plan •Define Community Policing Priorities GOAL: Exceed Community Expectations 7 8 5 10/5/2022 5 9 Police (40) General Administrative (5.3) Public Outreach (0.65) Community Response Services (6.15) Patrol Services (22.9) Investigative Services (1.95) School Safety (0.85) Records Management (2.2) POLICE STRUCTURE Personnel Services 73% Services & Contracts 14% Supplies 2% Overhead & Allocations 11% 2023 Budget by Expense Type POLICE REVENUES 10 Non‐Classified 75% General Administrative 25% 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Non‐Classified $177,900 $173,290 $176,740 $180,260 $183,850 Patrol Services $59,060 $59,060 $0 $0 $0 Total Revenues $236,960 $232,350 $176,740 $180,260 $183,850 9 10 6 10/5/2022 6 POLICE EXPENDITURES 11 Administrative 18% Community Response Services 11% Patrol Services 52% Investigative Services 4% School Safety 2%Communication Center 10%Records Management 3% Operating Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Administrative $1,206,700 $1,250,030 $1,293,590 $1,339,020 $1,386,380 Community Response Services $755,000 $787,330 $819,580 $853,370 $888,790 Patrol Services $3,466,460 $3,605,360 $3,744,530 $3,890,070 $4,042,330 Investigative Services $265,430 $276,570 $287,730 $299,400 $311,620 School Safety $111,590 $116,310 $121,030 $125,960 $131,120 Communication Center $633,460 $646,130 $659,060 $672,240 $685,690 Records Management $201,920 $211,130 $220,230 $229,810 $239,880 Operating $6,640,560 $6,892,860 $7,145,750 $7,409,870 $7,685,810 Overhead Allocations $811,000 $751,190 $765,940 $800,460 $796,980 Total Uses $7,451,560 $7,644,050 $7,911,690 $8,210,330 $8,482,790 Surplus/(Subsidy) ($7,214,600) ($7,411,700) ($7,734,950) ($8,030,070) ($8,298,940) As a Percent of Uses 97% 97% 98% 98% 98% 2023 SUPPLEMENTAL REQUESTS 12 Communications Services Budget $119,000 (Ongoing) •Police Department Is Part Of Local 911 Service Provider ‐Governed By Communications Board •June 2022, Board Adopted Financing Plan To Stabilize Budget: 5% Increase Over Current Year Budget $25,000 Annual Fixed Cost $45,000 Cost For COA Portion Of Approved IT Position •Focus Effort On Staffing & Technological Advancements Tab 3 Page 22 in Budget Book 11 12 7 10/5/2022 7 2023 Capital Projects - Police Capital Projects 2023 51635 EV Chargers ‐ APD Garage $60,000 50450 Police Copier / Fax / Scanner device $12,000 51453 Planned Replacement of Police Rifles $24,000 14 Summary Questions? Compass Goals: ‐Improve E911 Services To The Community ‐Foster A Culture Of Respect ‐Exceed Community Expectations Supplementals: $119,000 ‐Dispatch/Communications Service Capital: $96,000 13 14 8 10/5/2022 8 FY23 Budget & Compass Report Special Events & Marketing (Fund 532) Nancy Lesley | Director October 10, 20221515 2021/2022 COMPASS WINS 16 Community Impact •Community collaboration •Avoided event fatigue Projects Permit Application System Implementation July 4th CelebrationEvent Schedule Assessment •Customer service •Streamlined process •Community resilience •Sense of normalcy 15 16 9 10/5/2022 9 2022/2023 COMPASS HIGHLIGHTS 17 PROJECTS: •Annual Event Analysis •Establish Park Rental Guidelines GOAL: Provide a Balanced Use of our Parks 2022/2023 COMPASS HIGHLIGHTS 18 PROJECTS: •Map Customer Permitting Process on Portal •Revise Customer Process on Portal •Institute Pre‐Submittal Meetings •Proactive Communication Efforts GOAL: Improve the Customer Experience 17 18 10 10/5/2022 10 19 Events (4.5) General Administrative (0.75) Event Application Processing (1.25) Event Logistics (1.3) Marketing Efforts (1.25) FINANCE STRUCTURE Personnel Services 48% Services & Contracts 35% Supplies 8% Utilities 1% Overhead & Allocations 8% 2023 Budget by Expense Type EVENTS REVENUES 20 Event Application Processing 26% Event Logistics 74% 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Event Application Processing $7,200 $7,340 $7,490 $7,640 $7,790 Event Logistics $21,000 $21,420 $21,850 $22,290 $22,740 Departmental Collections $28,200 $28,760 $29,340 $29,930 $30,530 Total Revenues $28,200 $28,760 $29,340 $29,930 $30,530 19 20 11 10/5/2022 11 EVENTS EXPENDITURES 21 Administrative 13% Events & Marketing 84% Facilities Maintenance 3% Operating Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Administrative $134,810 $139,770 $144,740 $149,900 $155,310 Events & Marketing $849,470 $876,900 $904,430 $933,090 $962,950 Facilities Maintenance $29,570 $30,160 $30,760 $31,360 $31,980 Operating $1,013,850 $1,046,830 $1,079,930 $1,114,350 $1,150,240 Overhead Allocations $86,900 $81,060 $82,750 $86,320 $86,100 Total Uses $1,100,750 $1,127,890 $1,162,680 $1,200,670 $1,236,340 Surplus/(Subsidy) ($1,072,550) ($1,099,130) ($1,133,340) ($1,170,740) ($1,205,810) As a Percent of Uses 97% 97% 97% 98% 98% 22 Summary Questions? Compass Goals: ‐Provide a balanced use of parks ‐Improve the customer experience Supplementals: None Capital: None 21 22 12 10/5/2022 12 FY23 Budget & Compass Report Recreation Department (Fund 001) Desiree Whitehead – Recreation Manager October 10, 202223 2021/2022 COMPASS WINS 24 Community Impact •Stability •Continuity •Opportunity Top 3 Projects Community Health Day Roller Skating At Ice Garden Operations During COVID •Access to Mental/Physical Health Information •Community •Affordability •Expanded Programming 23 24 13 10/5/2022 13 2022/2023 COMPASS HIGHLIGHTS 25 PROJECTS: •10 Year Financial Business Plan •Cost Recovery Workbooks •Staffing Workload Analysis GOAL: Maintain Stewardship Of Financial Standards 2022/2023 COMPASS HIGHLIGHTS 26 PROJECTS: •Emergency Action Plan Revision •Facility Resource Evaluation •Safety Trainings GOAL: Ensure Facility & Program Safety 25 26 14 10/5/2022 14 2022/2023 COMPASS HIGHLIGHTS 27 PROJECTS: •Programming/Events Assessment Survey •Marketing Plan •Diversity, Equity, & Inclusion (DEI) Alignment GOAL: Expand Community Engagement 28 542 ‐Aspen Rec Center (27.4 FTE) General Administrative (5.65) Facilities & Operations (7.1) Programming (14.65) RECREATION STRUCTURE Personnel Services 66% Services & Contracts 6% Supplies 5% Utilities 11% Overhead & Allocations 12% 2023 Budget by Expense Type 27 28 15 10/5/2022 15 RECREATION REVENUE RECOVERY 29 •Total Revenue: 2022 Forecast up 21% over 2021 Actuals •August 2022: up 43.98% from 2021 year to date RECREATION REVENUES 30 Recreation Non‐ Classified 45% Aquatics Programming 4% Ice Programming 36% Youth Programming 15%2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Recreation Non‐Classified $950,040 $969,030 $988,420 $1,008,200 $1,028,350 Aquatics Programming $78,970 $80,560 $82,170 $83,810 $85,480 Ice Programming $748,410 $763,380 $778,650 $794,230 $810,130 Youth Programming $308,880 $315,060 $321,370 $327,800 $334,350 Adult Programming $42,640 $43,480 $44,350 $45,240 $46,140 Total Revenues $2,128,940 $2,171,510 $2,214,960 $2,259,280 $2,304,450 29 30 16 10/5/2022 16 2023 PROPOSED FEE CHANGES 31 •Memberships –Average Increase Of 10% •Annual Adult: $645 •6 Month Adult: $400 •Program Fees –Average Increase Of 13% •Daily Admission –Average Increase Of 10% •Local Adult: $13 •Guest Adult: $28 RECREATION EXPENDITURES 32 Administrative 23% Aquatics Programming 10% Ice Programming 15% Youth Programming 12%Adult Programming 6% Facilities Maintenance 29% Business Services 5% Operating Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Administrative $1,339,110 $1,307,950 $1,356,840 $1,407,930 $1,461,370 Aquatics Programming $467,160 $484,330 $501,740 $519,860 $538,700 Ice Programming $735,710 $766,790 $797,670 $830,060 $864,080 Youth Programming $559,270 $582,320 $605,290 $629,370 $654,590 Adult Programming $304,590 $316,560 $328,550 $341,030 $354,110 Property / Facilities Maintenance $1,320,660 $1,361,630 $1,402,920 $1,445,810 $1,490,330 Business Services Programs $221,400 $225,820 $230,340 $234,950 $239,650 Operating $4,947,900 $5,045,400 $5,223,350 $5,409,010 $5,602,830 Overhead and Transfers Out $649,400 $588,610 $599,540 $629,490 $622,790 Total Uses $5,597,300 $5,634,010 $5,822,890 $6,038,500 $6,225,620 Surplus/(Subsidy) ($3,468,360) ($3,462,500) ($3,607,930) ($3,779,220) ($3,921,170) Recovery Rate (Expense covered by Revenue) 38% 39% 38% 37% 37% Subsidy (Expense covered by CoA funding) 62% 61% 62% 63% 63% 31 32 17 10/5/2022 17 2023 SUPPLEMENTAL REQUESTS 33 Fee Analysis & Business Plan $80,000 (One‐Time) •Updated Every 10 Years (Scheduled 2025) •Advance Planning To 2023 •Focus: Updated Business Structure & Fees •Objective Is to Return to 50% Subsidy Tab 3 Page 26 in Budget Book 2023 Major Capital Projects 34 Appropriations by Year Prior Years $0 2023 $375,000 Out Years $0 Lifetime Budget $375,000 51467 Roof Replacement •Facility Condition Assessment (FCA) Identified Significant Roofing Problems at Red Brick •Intact Roof Is Critical To Maintain Facility Integrity •Based On The Assessment This Project Was Prioritized For 2023 Task Level Budget Hard Construction Cost $375,000 Tab 8 Fund 000 Page 14 in Budget Book 33 34 18 10/5/2022 18 2023 Major Capital Projects 35 Appropriations by Year Prior Years $25,000 2023 $150,000 Out Years $0 Lifetime Budget $175,000 51211 HVAC System for Red Brick Gym •The Red Brick Gymnasium Does Not Have An Air Circulation System •Project Scope: Includes The Installation Of A New Air Filtration System. •Results: Substantial Gymnasium Operational Cost Savings & Improved Air Quality •Design: 2022; Implementation: 2023 Task Level Budget Design & Engineering $20,000 Plan / Permit Fees $5,000 Hard Construction Cost $150,000 Tab 8 Fund 000 Page 15 in Budget Book 2023 Capital Projects 36 Capital Projects 2023 50374 Mondo Flooring ‐ (AIG) $105,000 51631 Air to Air Crossflow Heat Exchanger Replacement ‐ 2023 $60,000 51557 ARC Front Desk Entrance Redesign $35,000 51632 Gymnastics Floor Replacement ‐ 2023 $30,000 51633 Gymnastics Mats ‐ 2023 $17,000 51634 Red Brick Copier Replacement ‐ 2023 $14,000 Capital Maintenance Projects 2023 40014 Exterior ‐ ARC ‐ Siding and Deck Replacement $135,700 40011 AIG & LIA Compressor Overhauls $15,000 40013 Clay Tennis equipment Court Roller/ ball machine/ stringer/ $13,000 35 36 19 10/5/2022 19 37 Summary Questions? Compass Goals: ‐Maintain Stewardship Of Financial Standards ‐Ensure Facility & Program Safety ‐Expand Community Engagement Supplementals: ‐Cost Analysis & Business Plan $80,000 Capital: $949,700 FY23 Budget & Compass Report Housing Development (Fund 150) Robert Schober – Capital Asset Director October 25, 20221 37 38 20 10/5/2022 20 39 Housing Development Fund (2 FTE) General Administrative (1.4) Capital Labor (0.6) HOUSING DEVELOPMENT STRUCTURE Personnel Services 4%Services & Contracts 9% Capital 47% Other 27% Overhead & Allocations 13% 2023 Budget by Expense Type HOUSING DEVELOPMENT REVENUES 40 Total Real Estate Transfer Tax 95% Sales Tax 5%2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Opening Balance $28,663,471 $54,882,581 $58,285,293 $70,784,423 $26,832,262 41400 ‐Total Real Estate Transfer Tax $10,000,000 $10,400,000 $10,920,000 $11,466,000 $12,039,300 41222 ‐Sales Tax $1,350,050 $1,404,100 $1,460,300 $1,518,700 $1,579,400 Investment Income $0 $1,097,650 $1,165,710 $1,415,690 $536,650 Other Non‐classified $276,010 $281,530 $287,160 $292,900 $298,760 Non‐Classified $11,626,060 $13,183,280 $13,833,170 $14,693,290 $14,454,110 Property / Facilities Maintenance $1,134,000 $1,148,280 $0 $0 $0 Burlingame P3 ‐Sale of Units $20,000,000 $0 $0 $0 $0 LumberYard ‐State and Federal Funding $0 $4,500,000 $0 $1,200,000 $0 LumberYard ‐Mortgage Funding $0 $0 $0 $0 $10,000,000 New Debt Service $0 $0 $0 $70,000,000 $0 Other Sources for Capital Projects $20,000,000 $4,500,000 $0 $71,200,000 $10,000,000 Revenues In $32,760,060 $18,831,560 $13,833,170 $85,893,290 $24,454,110 Transfers In $950,000 $1,000,000 $1,000,000 $2,150,000 $1,150,000 Total Revenues $33,710,060 $19,831,560 $14,833,170 $88,043,290 $25,604,110 39 40 21 10/5/2022 21 HOUSING DEVELOPMENT EXPENSES 41 Administrative 90% Property / Facilities Maintenance 10% Operating Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Administrative $800,780 $952,910 $1,061,570 $1,089,630 $1,130,470 Property / Facilities Maintenance $2,087,040 $88,790 $90,560 $92,370 $94,190 Operating $2,887,820 $1,041,700 $1,152,130 $1,182,000 $1,224,660 Capital $3,613,980 $14,366,318 $123,180 $125,668,711 $133,050 Transfers Out $989,150 $1,020,830 $1,058,730 $5,144,740 $5,182,580 Total Uses $7,490,950 $16,428,848 $2,334,040 $131,995,451 $6,540,290 Ending Fund Balance $54,882,581 $58,285,293 $70,784,423 $26,832,262 $45,896,082 Change in Fund Balance $26,219,110 $3,402,712 $12,499,130 ($43,952,161) $19,063,820 Debt Service as a % of RETT 0% 35% 34% 2023 Major Capital Projects 42 Appropriations by Year Prior Years $52,238,102 2023 $2,000,000 Out Years $0 Lifetime Budget $54,238,102 51289 ‐Burlingame Phase 3 ‐New Construction Buildings 8‐15 (79 units) •79 New Affordable Ownership Condominiums To Aspen And Pitkin County’s APCHA Inventory •Construction Utilizes Factory‐built Modular Units •Occupancy 2023, Warranty Through 2025 Tab 8 Fund 150 Page 4 in Budget Book Task Level Budget Design & Engineering $8,038,102 Hard Construction Cost $44,200,000 Project Contingency $2,000,000 Withdrawn from 2023 Withdrawn from 2023 Budget – Will Be Included in 2022 Fall Supplemental 41 42 22 10/5/2022 22 2023 Major Capital Projects 43 51225 – Lumber Yard Housing Development •Council Approved 100% Schematic Design May 16, 2022 •Land Use Approval Process Q4 2022 –Q2 2023 •276 Units, 466 Bedrooms •Phased Implementation Updated Annual Budget Estimates ‐May 16, 2022 2019 Planning & Design $175,000 2020 Planning & Design $400,000 2021 Planning & Design $850,000 2022 Planning & Design $1,500,000 2023 Planning & Design $1,500,000 2024 Phase 0 (Demo + A&I) $14,247,758 2026 Phase 1 (Bldg 1, 103 Units) $125,540,701 2028 Phase 2 (Bldg 2, 92 Units) $115,862,000 2030 Phase 3 (Bldg 3, 81 Units) $135,235,509 Task Level Budget Owner Management Expense $305,730 Design & Engineering $3,059,646 Project Contingency $1,059,614 Tab 8 Fund 150 Page 5 in Budget Book 44 Summary Questions? Supplementals: ‐$2,000,000; Transfer to Truscott II for Repairs ‐$56,150; APCHA Operating Subsidy Capital: $3,500,000 43 44 23 10/5/2022 23 FY23 Budget Employee Housing (Fund 505) Robert Schober – Capital Asset Director October 25, 2022 45 EE HOUSING REVENUES 46 Rental Income 7% Refund of Expenditures ‐ Housing 3% Transfers In 90% 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Opening Balance $4,596,784 $7,185,354 $10,726,064 $11,997,414 $15,772,394 Rental Income $250,000 $255,000 $260,100 $265,300 $270,610 Investment Income $0 $143,710 $214,520 $239,950 $315,450 Refund of Expenditures $124,600 $127,700 $131,100 $134,100 $137,300 Revenues In $374,600 $526,410 $605,720 $639,350 $723,360 Transfers In $3,469,600 $3,556,600 $3,643,400 $3,730,400 $3,816,900 Total Revenues $3,844,200 $4,083,010 $4,249,120 $4,369,750 $4,540,260 45 46 24 10/5/2022 24 EE HOUSING EXPENDITURES 47 Down Payment Assistance 6% Facilities Maintenance 13% Capital 81% Operating & Capital Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Down Payment Assistance $60,000 $60,000 $60,000 $60,000 $60,000 Facilities Maintenance $133,630 $136,300 $139,020 $141,770 $144,620 Operating $193,630 $196,300 $199,020 $201,770 $204,620 Capital $1,062,000 $346,000 $2,778,750 $393,000 $419,000 Total Uses $1,255,630 $542,300 $2,977,770 $594,770 $623,620 Ending Fund Balance $7,185,354 $10,726,064 $11,997,414 $15,772,394 $19,689,034 Personnel Services 5% Services & Contracts 8% Utilities 2% Capital 85% 2023 Budget by Expense Type 2023 Major Capital Projects 48 Appropriations by Year Prior Years $450,000 2023 $662,000 Out Years $0 Lifetime Budget $1,112,000 51534 –Water Place Roof Replacement •20‐year‐old Shingle Roofs At End‐of‐life •Priority On Safety & Snow/Ice Buildup •Construction Starting Summer Of 2023 Task Level Budget Testing & Inspection $20,000 Hard Construction Cost $842,000 Project Contingency $250,000 Tab 8 Fund 505 Page 3 in Budget Book 47 48 25 10/5/2022 25 2023 Capital Projects 49 Capital Projects 2023 51656 Forest Service Housing Partnership $75,000 Capital Maintenance Projects 2023 40071 Properties Repair and Renovations $325,000 50 Summary Questions? Compass Goals:Part of Asset Management 001.119 Supplementals: $0 Capital: $1,062,000 49 50 26 10/5/2022 26 FY23 Budget & Compass Report October 10, 2022 Matthew Gillen, Executive Director 2021/2022 COMPASS WINS Top 3 Projects Paper Reduction Staff Resilience Training Established Social Media Presence Community Impact •500 Fb Followers •Monthly FB Live •Spanish Translation •Modern Outreach •Internal Efficiency •Customer Service •Leverage Hometrek •Cost Reduction •Better Staff Morale/Support •Managing Customer Expectations 51 52 27 10/5/2022 27 2022/2023 COMPASS HIGHLIGHTS PROJECTS: •Develop Right‐sizing Housing Policy GOAL: Provide Expert Advice To Board & Execute Housing Policies 2022/2023 COMPASS HIGHLIGHTS Projects: •Revamp Hometrek Portal •Reduce Software License Fees •Reduce Paper Applications GOAL: Identify Efficiencies To Improve The Customer Experience 53 54 28 10/5/2022 28 2022/2023 COMPASS HIGHLIGHTS Projects: •2023 Communications Plan: •“What Is APCHA?” Education •Burlingame Lottery •New Hometrek Portal •HOA Outreach GOAL: Enhance Communication Efforts To The Community October 10, 2022 Matthew Gillen, Executive Director Aspen Pitkin County Housing Authority (Fund 620) FY23 Budget 55 56 29 10/5/2022 29 APCHA STRUCTURE Personnel Services 47%Services & Contracts 35% Supplies 1% Capital 17% 2023 Budget by Expense TypeHousing Administration Fund (12.32 FTE) APCHA Housing (10.29) General Administrative (4.86) Compliance (0.85) Qualifications (1.24) Sales (1) Property Management (2.34) Independent Housing Entities (2.03) Truscott (1.05) Aspen Country Inn (0.53) Property Management (0.45) APCHA REVENUES Current Subsidy 37% Unallocated Revenue 14% Property / Facility Maintenance 5% Management Fees 17% Other Revenues 27% 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Opening Balance $279,054 $381,934 $341,604 $361,054 $370,704 City ‐Subsidy (50% share) $597,450 $747,900 $842,300 $862,000 $894,200 County ‐Subsidy (50% share) $597,450 $747,900 $842,300 $862,000 $894,200 Unallocated Revenues $461,500 $478,220 $486,820 $496,810 $506,800 Facilities Maintenance $152,890 $159,800 $166,640 $173,840 $181,400 Management Fees $547,380 $558,330 $569,480 $580,880 $592,480 Revenues In $2,356,670 $2,692,150 $2,907,540 $2,975,530 $3,069,080 Other Revenues $900,000 $0 $0 $0 $0 Total Revenues $3,256,670 $2,692,150 $2,907,540 $2,975,530 $3,069,080 57 58 30 10/5/2022 30 APCHA EXPENSES Administrative 53% Property / Facilities Maintenance 10% Housing Sales and Rental Services 37% Operating Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Administrative $1,409,350 $1,430,480 $1,475,830 $1,529,070 $1,572,040 Facilities Maintenance $255,260 $267,410 $279,490 $291,950 $304,770 Housing Sales & Rental $974,180 $1,008,390 $1,045,270 $1,087,860 $1,130,260 Operating $2,638,790 $2,706,280 $2,800,590 $2,908,880 $3,007,070 Capital $515,000 $26,200 $87,500 $57,000 $50,500 Total Uses $3,153,790 $2,732,480 $2,888,090 $2,965,880 $3,057,570 Targeted Reserve (12.5%) $394,224 $341,560 $361,011 $370,735 $382,196 Ending Fund Balance $381,934 $341,604 $361,054 $370,704 $382,214 % of Targeted Reserve 97% 100% 100% 100% 100% Change in Fund Balance $102,880 ($40,330) $19,450 $9,650 $11,510 SUPPLEMENTAL Compliance Manager (1.0 FTE) Permanent $99,840 •Organizational Responsibility to Provide Oversight •Compliance Is Complex & Time Consuming •Insufficient Staff Resources To Oversee All But The Most Serious Cases •Compliance Manager Will Increase Number of Cases Evaluated & Proactively Work With Clients To Stay In Good Standing Tab 9 Fund 620 Page 2in Budget Book 59 60 31 10/5/2022 31 2023 CAPITAL Capital Projects 51612 Purchase of Foreclosure Units $500,000 51527 Multi-Function Machine - APCHA $35,000 Questions? Compass Goals: ‐Provide Expert Advice To Board & Execute Housing Policies - Identify Efficiencies To Improve The Customer Experience - Enhance Communication Efforts To The Community Supplementals: - $99,840 Compliance Manager (1.0 FTE) Capital: $515,000 61 62 32 10/5/2022 32 October 10, 2022 Matthew Gillen, Executive Director Independent Housing - Smuggler (Fund 622) FY23 Budget SMUGGLER FINANCIALS Administrative 22% Facilities Maintenance 65% Sales & Rental 13% Operating Budget 2023 2024 2025 2026 2027 EXPENSES Request Projection Projection Projection Projection Administrative $15,570 $15,940 $16,310 $16,680 $17,070 Facilities Maintenance $45,770 $47,090 $48,420 $49,780 $51,200 Housing Sales & Rental $9,010 $9,190 $9,370 $9,560 $9,750 Operating $71,750 $73,620 $75,800 $77,720 $79,820 Capital $5,800 $0 $35,000 $5,200 $0 Total Uses $77,550 $73,620 $110,800 $82,920 $79,820 Target Reserve (12.5%) $9,694 $9,203 $13,850 $10,365 $9,978 Ending Fund Balance $410,637 $421,807 $397,557 $402,257 $411,747 % of Target 4,236% 4,584% 2,870% 3,881% 4,127% 2023 2024 2025 2026 2027 REVENUES Request Projection Projection Projection Projection Opening Balance $413,107 $410,637 $421,807 $397,557 $402,257 Rental Income $74,980 $76,480 $78,010 $79,570 $81,160 Late Rent Fees $100 $100 $100 $100 $100 Investment Income $0 $8,210 $8,440 $7,950 $8,050 Total Revenues $75,080 $84,790 $86,550 $87,620 $89,310 63 64 33 10/5/2022 33 2023 CAPITAL PROJECTS Capital Projects 50699 Smuggler - Appliance Replacement $2,500 50701 Smuggler – Carpet & Vinyl Replacement $2,400 50700 Individual Hot Water Heater Replacement $900 FY23 Budget City-Owned Housing – Truscott I (Fund 491) Matthew Gillen- Executive Director October 10, 2022 66 65 66 34 10/5/2022 34 67 City Owned Housing (2.51 FTE) Truscott I Housing Fund (1.3) Marolt Housing Fund (1.21) TRUSCOTT & MAROLT STRUCTURE Personnel Services 7% Services & Contracts 21% Supplies 2% Utilities 9% Capital 28% Overhead & Allocations 33% 2023 Budget by Expense Type TRUSCOTT REVENUES 68 Rental Income 91% Laundry 2% APCHA Office Lease 6% Other Revenues 1% 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Opening Balance $646,550 $526,110 $758,980 $853,820 $824,760 Rental Income $1,333,000 $1,359,660 $1,386,850 $1,414,590 $1,442,880 Late Rent Fees $3,500 $3,570 $3,640 $3,710 $3,780 Laundry $30,000 $30,600 $31,210 $31,830 $32,470 Parking Fees $150 $150 $150 $150 $150 Investment Income $0 $10,520 $15,180 $17,080 $16,500 Other Facility Rentals $90,000 $95,000 $100,000 $105,000 $110,000 Other Revenues $5,560 $5,670 $5,780 $5,890 $6,000 Revenues In $1,462,210 $1,505,170 $1,542,810 $1,578,250 $1,611,780 Total Revenues $1,462,210 $1,505,170 $1,542,810 $1,578,250 $1,611,780 67 68 35 10/5/2022 35 TRUSCOTT EXPENSES 69 Administrative 2% Facilities Maintenance 76% Housing Sales & Rental 22% Operating Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Administrative $14,320 $14,610 $14,900 $15,190 $15,490 Facilities Maintenance $546,350 $560,580 $574,910 $589,720 $605,040 Housing Sales & Rental $160,380 $163,590 $166,860 $170,200 $173,600 Operating $721,050 $738,780 $756,670 $775,110 $794,130 Capital $522,900 $141,820 $246,500 $234,200 $456,600 Transfers Out $338,700 $391,700 $444,800 $598,000 $601,300 Total Uses $1,582,650 $1,272,300 $1,447,970 $1,607,310 $1,852,030 Targeted Reserve (12.5%) $197,831 $159,038 $180,996 $200,914 $231,504 Ending Fund Balance $526,110 $758,980 $853,820 $824,760 $584,510 % of Target 266% 477% 472% 411% 252% 2023 Major Capital Projects 70 Appropriations by Year Prior Years $0 2023 $200,000 Out Years $0 Lifetime Budget $200,000 50657 Truscott Fire Alarm System Replacement System To Be Replaced In 400 – 1000 Buildings In 2023 •Provide An Updated System to Enable Easier Access If Troubleshooting Needed By Staff / Vendor •Full Replacement of System to Meet Current Code Task Level Budget Hard Construction Cost $200,000 Tab 8 Fund 491 Page 3in Budget Book 69 70 36 10/5/2022 36 2023 Truscott Capital Projects 71 Capital Projects 2023 51658 Mechanical and Sprinkler Room Repairs and Improvements $130,000 50663 Interior Unit HVAC ‐ Bld 100 Units $40,000 50647 Truscott Ph 1 Hot Water Storage Tank Replacement $34,500 50626 Site ‐ 100 Building Office Clubhouse $16,100 50664 Replace Hallway Carpet Bld 100 $14,000 51636 Mechanical 100 Building Office & Clubhouse $5,600 2023 Truscott Capital Maintenance 72 Capital Maintenance Projects 2023 40122 Truscott Phase I Facility Maintenance ‐ Interior $18,600 40095 Replace Carpet Flooring and Paint ‐ Bld 100 Apartments $14,000 40096 Appliance Range/Oven Replacement $13,000 40078 Truscott Building Repairs $11,500 40114 Truscott Phase I Facility Maintenance $10,600 40093 Interior Unit Light Fixtures and Outlets ‐ Bld 100 Units $10,000 40094 Interior Unit Plumbing and Fixtures ‐ Bld 100 Units $5,000 71 72 37 10/5/2022 37 FY23 Budget Independent Housing - Truscott II (Fund 641) Matthew Gillen – Executive Director October 10, 2022 73 TRUSCOTT II FINANCIALS 74 Administrative 20% Facilities Maintenance 56% Sales & Rental 24% Operating Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Opening Balance $891,000 $683,780 $393,280 $322,100 $192,140 Rental Income ‐Permanent $1,187,180 $1,210,920 $1,235,140 $1,259,840 $1,285,040 Late Rent Fees $2,000 $2,040 $2,080 $2,120 $2,160 Laundry $7,200 $7,340 $7,490 $7,640 $7,790 Section 8 Housing Assistance $7,000 $7,140 $7,280 $7,430 $7,580 Investment Income $3,800 $13,680 $7,870 $6,440 $3,840 Other Revenues $9,250 $13,320 $13,590 $13,860 $14,140 Housing Development Fund Contribution $2,000,000 $0 $0 $0 $0 Total Revenues $3,216,430 $1,254,440 $1,273,450 $1,297,330 $1,320,550 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Administrative $114,550 $116,840 $119,180 $121,570 $123,990 Facilities Maintenance $341,210 $350,600 $360,040 $369,840 $379,940 Operating $598,460 $613,000 $627,690 $642,850 $658,390 Capital $2,428,250 $535,000 $320,000 $387,500 $20,000 Debt Service $396,940 $396,940 $396,940 $396,940 $396,940 Total Uses $3,423,650 $1,544,940 $1,344,630 $1,427,290 $1,075,330 Target Reserve (12.5%) $427,956 $193,118 $168,079 $178,411 $134,416 Ending Fund Balance $683,780 $393,280 $322,100 $192,140 $437,360 % of Target 160% 204% 192% 108% 325% 73 74 38 10/5/2022 38 2023 Major Capital Projects 75 Appropriations by Year Prior Years $100,000 2023 $1,700,000 Out Years $0 Lifetime Budget $1,800,000 51617 Stairway Replacement All The Stairways On Buildings 10, 20, 30, •Safe Access For Tenants To Their Apartments On The Upper Level •Completion Is Expected Toward Late 2023 •The Plan Is To Construct The Stairways Off Site In Order To Mitigate The Disruption To The Tenants Task Level Budget Design & Engineering $100,000 Hard Construction Cost $1,400,000 Project Contingencies $300,000 Tab 9 Fund 641 Page 3in Budget Book 2023 Major Capital Projects 76 Appropriations by Year Prior Years $0 2023 $250,000 Out Years $250,000 Lifetime Budget $500,000 51619 Fire Alarm System The Fire Suppression System Is Outdated & When Repairs Are Needed •Safety For Tenants –Alarms Go Off Quite Frequently When There Is Not A Problem •Completion Is Expected Toward Late 2024 Task Level Budget Hard Construction Cost $500,000 Tab 9 Fund 641 Page 4 in Budget Book 75 76 39 10/5/2022 39 2023 Major Capital Projects 77 Appropriations by Year Prior Years $0 2023 $125,000 Out Years $125,000 Lifetime Budget $250,000 51620 Drainage Issues 10‐70 Bldgs. •Research & fix areas that are experiencing drainage issues •Berms slope toward buildings B10‐B30, B40‐B70 •Regrade to slope water/moisture away from buildings Task Level Budget Hard Construction Cost $250,000 Tab 9 Fund 641 Page 5 in Budget Book 2023 Major Capital Projects 78 Appropriations by Year Prior Years $0 2023 $125,000 Out Years $125,000 Lifetime Budget $250,000 51621 Drainage Issues 200‐300 Bld. •Research & fix areas that are experiencing drainage issues •Berms slope toward buildings B200 and B300 •Regrade to slope water/moisture away from buildings •Storm Water Management plan Task Level Budget Hard Construction Cost $250,000 Tab 9 Fund 641 Page 6 in Budget Book 77 78 40 10/5/2022 40 2023 Truscott II Capital Projects 79 Capital Projects 51622 Radon & Moisture Removal on 200‐300 Bld $132,000 51667 B200‐B300 Fire Suppression Piping $35,000 51623 Elevator Car Improvement $10,000 51618 Thermal Solar Controls $2,500 Capital Maintenance 40126 Truscott Phase 2 Facility Maintenance ‐Exterior $33,000 40125 Truscott Phase 2 Facility Maintenance ‐Interior $15,750 FY23 Budget City-Owned Housing – Marolt (Fund 492) Matthew Gillen- Executive Director October 10, 2022 80 79 80 41 10/5/2022 41 MAROLT REVENUES 81 Rental Income ‐ Seasonal 95% Laundry 1% Parking Fees 1% Cafeteria Lease 1% Other Revenues 2% 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Opening Balance $1,806,037 $1,577,957 $1,197,687 $1,242,027 $1,312,867 Rental Income ‐Seasonal $1,530,000 $1,560,600 $1,591,810 $1,623,650 $1,656,120 Laundry $20,000 $20,400 $20,810 $21,230 $21,650 Parking Fees $15,000 $15,300 $15,610 $15,920 $16,240 Cafeteria Lease $18,360 $18,730 $19,100 $19,480 $19,870 Investment Income $0 $31,560 $23,950 $24,840 $26,260 Other Revenues $26,000 $26,520 $27,050 $27,590 $28,140 Revenues In $1,609,560 $1,673,310 $1,698,530 $1,732,910 $1,768,480 Total Revenues $1,609,560 $1,673,310 $1,698,530 $1,732,910 $1,768,480 MAROLT EXPENSES 82 Administrative 1% Property / Facilities Maintenance 68% Sales & Rentals 31% Operating Budget 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Administrative $4,840 $4,930 $5,020 $5,110 $5,220 Facilities Maintenance $414,570 $425,910 $437,340 $449,160 $461,410 Housing Sales & Rental $185,830 $189,540 $193,330 $197,200 $201,140 Operating $605,240 $620,380 $635,690 $651,470 $667,770 Capital $453,100 $651,300 $283,800 $273,100 $316,550 Transfers Out $779,300 $781,900 $734,700 $737,500 $740,300 Total Uses $1,837,640 $2,053,580 $1,654,190 $1,662,070 $1,724,620 Target Reserve (12.5%) $229,705 $256,698 $206,774 $207,759 $215,578 Ending Fund Balance $1,577,957 $1,197,687 $1,242,027 $1,312,867 $1,356,727 % of Target 687% 467% 601% 632% 629% Over/(Short) of Target $1,348,252 $940,989 $1,035,253 $1,105,108 $1,141,149 Change in Fund Balance ($228,080) ($380,270) $44,340 $70,840 $43,860 81 82 42 10/5/2022 42 2023 Major Capital Projects 83 Appropriations by Year Prior Years $0 2023 $160,000 Out Years $640,000 Lifetime Budget $800,000 51661 Building Envelope Improvements & Water Proofing •Exterior Of All Building Assembly Is Lacking Many Basic Waterproofing & Infiltration Elements •Remove Siding & Re‐install With Appropriate Wall & Window Assembly Elements •The Scope Will Be Defined & Work Will Be Scheduled in 2023 Task Level Budget Hard Construction Cost $800,000 Tab 8 Fund 491 Page 3in Budget Book 2023 Marolt Capital Projects 84 Capital Projects 2023 51660 Roof Drainage Improvements $45,000 51606 Marolt ‐ Exterior Painting ‐ 2023 $34,000 51662 Mechanical Piping and Sprinkler System Repairs $28,000 51664 Fire Suppression Improvements $20,000 83 84 43 10/5/2022 43 2023 Marolt Capital Maintenance 85 •Staff walks through each unit twice per year to assess what needs to be done during turnovers Capital Maintenance Projects 2023 40123 Marolt Facility Maintenance ‐ Exterior $35,700 40083 Marolt ‐ Exterior Painting $34,000 40084 Marolt ‐ Carpet & Vinyl Replacement $25,000 40097 Marolt ‐ Refurbish Interiors $25,000 40124 Marolt Facility Maintenance ‐ Interior $21,400 40099 Marolt ‐ Purchase New Furniture $10,000 40085 Marolt ‐ Furniture & Fixture Replacement $5,500 40086 Marolt ‐ Window Replacement $5,000 40087 Marolt ‐ Appliance Replacement $4,500 FY23 Budget Independent Housing - ACI (Fund 642) Matthew Gillen – Executive Director October 10, 2022 86 85 86 44 10/5/2022 44 ASPEN COUNTRY INN FINANCIALS 87 Administrative 12% Facilities Maintenance 68% Housing Sales and Rental Services 20% Operating Budget2023 2024 2025 2025 2026 Request Projection Projection Projection Projection Opening Balance $213,515 $218,123 $232,123 $232,123 $246,123 Rental Income ‐Permanent $412,000 $420,240 $428,640 $428,640 $437,210 Late Rent Fees $150 $150 $150 $150 $150 Laundry $5,000 $5,100 $5,200 $5,200 $5,300 Section 8 Housing Assistance $7,800 $7,960 $8,120 $8,120 $8,280 Investment Income $100 $4,360 $4,640 $4,640 $4,920 Other Revenues $1,600 $1,720 $1,740 $1,740 $1,760 Total Revenues $426,650 $439,530 $448,490 $448,490 $457,620 Administrative $57,270 $58,700 $59,950 $59,950 $61,230 Facilities Maintenance $164,180 $168,750 $173,320 $173,320 $178,080 Housing Sales/Rental Services $49,460 $50,450 $51,450 $51,450 $52,480 Operating $270,910 $277,900 $284,720 $284,720 $291,790 Debt Service $138,280 $138,270 $138,270 $138,270 $138,280 Total Uses $409,190 $416,170 $422,990 $422,990 $430,070 Targeted Reserve (12.5% of Uses) $51,149 $52,021 $52,874 $52,874 $53,759 Potential $3.8M Loan ($12,852) ($9,360) ($11,500) ($11,500) ($13,550) Ending Fund Balance $218,123 $232,123 $246,123 $246,123 $260,123 88 Summary Questions? 87 88 45 10/5/2022 45 2022 BUDGET DEVELOPMENT Aspen Mini Storage LLC (670 Fund) Pete Strecker, Finance Director OCTOBER 10, 2022 89 Revenues & Expenditures 90 •Purchased (150 Fund) Feb 2020 for Eventual Lumberyard Housing Development •Annual Rent Due to Housing Development Fund Is Net Profit on Operations 2023 2024 2025 2026 2027 Request Projection Projection Projection Projection Opening Balance $7,840 $3,660 $0 $0 $0 Storage Rentals $500,000 $300,000 $0 $0 $0 Total Revenues $500,000 $300,000 $0 $0 $0 Aspen Mini Storage Operations $504,180 $303,660 $0 $0 $0 Total Uses $504,180 $303,660 $0 $0 $0 Ending Fund Balance $3,660 $0 $0 $0 $0 89 90 46 10/5/2022 46 91 Summary Aspen Mini Storage Questions 91 47