HomeMy WebLinkAboutresolution.council.124-22RESOLUTION NO.124
(SERIES OF 2022)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO ADOPTING 1) THE 2023 MUNICIPAL BUDGET; AND 2) THE 2023
BUDGETS FOR TRUSCOTT PHASE II AFFORDABLE HOUSING FUND,
ASPEN COUNTY INN AFFORDABLE HOUSING FUND, AND ASPEN MINI STORAGE
WHICH ARE COMPONENT UNIT FUNDS OF THE CITY OF ASPEN, 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, 2023 and ending December 31, 2023; 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 budgets as submitted in Exhibits A & B sets forth the amounts to be
appropriated for expenditure, and estimated revenues, for each accounting fund for the calendar
year of 2023,
SECTION 1:
NOW THEREFORE, be it resolved by City Council, that the budget for the City of Aspen,
Colorado for fiscal year 2023, attach hereto as Exhibit A and incorporated herein by this reference,
is hereby adopted. All constituted appropriations amounting to $172,052,910, and estimated
revenues amounting to $186,656,267, are hereby declared to be sufficient and necessary to pay
the expenses and certain indebtedness, and provide for a reasonable fund balance at the close of
the fiscal year beginning January 1, 2023 and ending December 31, 2023, as required pursuant to
29-1-103 (2), C.R.S.
SECTION 2:
NOW THEREFORE, be it resolved by City Council, that the budget for the City of Aspen,
Colorado, Truscott Phase II Affordable Housing Fund for fiscal year 2023 is hereby adopted with
appropriations amounting to $991,600, and estimated revenues amounting to $1,199,750. Aspen
Country Inn Affordable Housing Fund for fiscal year 2023 is hereby adopted with
appropriations amounting to $366,150, and estimated revenues amounting to $386,350. Aspen
Mini Storage Fund for fiscal year 2023 is hereby adopted with appropriations amounting to
$634,000, and estimated revenues amounting to $634,000. That all are hereby declared to be
sufficient and necessary to pay the expenses and certain indebtedness, and provide for a
reasonable fund balance at the close of the fiscal year beginning January 1, 2023, and ending
December 31, 2023, as required pursuant to 29-1-103 (2), C.R.S.
Adopted this 29th, day of November 2022
Torre, Mayor
I, Nicole Henning, 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 29th day of November 2023.
Nicole Hennin , City Clerk
Exhibit A - 2023 Appropriation by Fund
Opening Ending
Fund Name Balance Revenues Expenditures Balance
001 - General Fund
$30,461,471
$44,289,750
$44,228,400
$30,522,821
100 - Parks and Open Space Fund
$14,930,770
$19,392,960
$24,461,710
$9,862,020
120 - Arts & Culture Fund
$48,203,338
$6,383,940
$12,124,940
$42,462,338
130 - Tourism Promotion Fund
$3
$4,095,250
$3,995,250
$100,003
131 - Public Education Fund
$1
$4,317,120
$4,317,120
$1
132 - REMP Fund
$2,842,880
$800,000
$1,480,600
$2,162,280
141 - Transportation Fund
$19,692,193
$6,012,850
$5,127,230
$20,577,813
150 - Housing Development Fund
$28,663,471
$33,710,060
$5,498,090
$56,875,441
152 - Kids First Fund
$6,962,008
$4,165,150
$4,076,290
$7,050,868
160 - Stormwater Fuhdi
$2,656,569
$3,613,410
$4,489,600
$1,780,379
250 - Debt Service Fund
$371,430
$6,225,867
$6,050,120
$547,177
000 - Asset Management Plan Fund
$24,299,233
$5,856,600
$8,503,410
$21,652,423
421 - Water Utility Fund
$7,027,354
$12,127,120
$12,830,280
$6,324,194
431 - Electric Utility Fund
$5,400,585
$11,422,640
$12,768,150
$4,055,075
451 - Parking Fund
$3,190,449
$4,302,770
$4,527,220
$2,965,999
471 - Golf Course Fund
$1,420,051
$3,023,200
$3,229,090
$1,214,161
491 - Truscott I Housing Fund
$646,550
$1,462,210
$1,585,800
$522,960
492 - Marolt Housing Fund
$1,806,037
$1,609,560
$1,840,590
$1,575,007
501 -Employee Benefits Fund
$3,963,800
$6,731,400
$6,377,930
$4,317,270
505 - Employee Housing Fund
$4,596,784
$3,844,200
$1,255,630
$7,185,354
510 - Information Technology Fund
$578,553
$3,270,210
$3,285,460
$563,303
Total Gross Appropriations
$207,713,531
$186,656,267
$172,052,910
$222,316,887
Transfers
$30,900,450
$30,900,450
Total Net Appropriations
$155,755,817
$141,152,460
Exhibit B --- Component Unit Funds
Fund Name
Truscott Phase II Affordable Housing Fund
ACI Affordable Housing Fund
Aspen Mini Storage
Opening
Balance
$891,000
$213,515
$7,840
Revenue Expenditure Ending
Budget Budget Balance
$3,216,430 $3,423,650 $683,780
$426,650
$500,000
$409,190
$504,180
$230,975
$3,660