HomeMy WebLinkAboutresolution.council.035-86 RESOLUTION NO.
(Series of 1986)
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, 1987, and ending December
31, 1987; 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 for the certification of
the ensuing year's tax levy to the county; and
WHEREAS, in accordance with Section 9.4 of the Home Rule
Charter, the budget as submitted below and in Exhibit "A" sets
forth estimated fiscal data including anticipated revenue and
expenditures for the calendar year 1987:
EXPENDITURES CURRENT
........................ NET TRANSFERS OTHER FINANCING INCREASE (DECREASE)
REVENUES OPERATING DEBT SERVICE IN (OUT) SOURCES/(USES) FUND BALANCE
General Fund $4,892,711 ($6,021,357) $0 $1,140,000 $0 $11,354
Land Fund 2,428,320 (74,344) (143,300) (2,026,000) 0 184,676
Transportation Fund 440,700 (54,000) 0 (379,000) 0 7,700
Wheeler Transfer Tax Fund 559,065 (618,148) 0 60,000 0 917
Asset Replacement Fund 83,000 (119,173) (194,900) 188,000 0 (43,073)
1979 G.O. Street Improvement
Debt Service Fund 0 0 (116,000) 116,000 0 0
1980 G.O. Housing
Debt Service Fund 0 0 (363,000) 363,000 0 0
1982 Sales Tax Revenue
Refunding Debt Service Fund 0 0 (172,000) 172,000 0 0
1985 Sales Tax Refunding
Revenue Debt Service Fund 0 0 (1,437,000) 1,437,000 0 0
Water Fund 2,468,000 (627,098) (1,490,000) (196,000) 0 154,902
Electric Fund 4,372,315 (2,780,554) (823,000) (583,000) (607,000) (421,239)
Golf Course Fund 380,000 (368,000) (12,000) 0 0 0
Ice Garden Fund 233,900 (266,643) (21,100) 54,000 0 157
Employee Retirement Fund 12,500 (18,000) 0 0 0 (5,500)
Smuggler Special Assessment
Fund 71,000 (88,000) 0 17,000 0 0
Castle Ridge Note Receivable
Fund 363,000 0 0 (363,000) 0 0
Lodge Special I~rovement 6,130,000
District 0 0 0 0 (6,130,000) 0
$16,304,511 ($11,035,317) ($4,772,300) $0 ($607,000) ($110,106)
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 for the fiscal year
1987 as submitted and attached hereto as Exhibit "A" and incor-
porated herein by this reference, be and is hereby adopted, which
adoption shall constitute appropriations of the amounts specified
therein as expenditures from the funds indicated; and that the
estimated budget revenue requirements of $22,544,617 is hereby
declared to be the amount of revenue necessary to be raised by
the tax levy and income from all other sources, including Fund
Balance at the beginning of the year, to pay the expenses and
certain indebtedness, and to provide a reasonable Fund Balance at
the close of fiscal year beginning January 1, 1987, and ending
December 31, 1987.
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 in 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 regular
scheduled Council meetings.
ADOPTED THIS ~ day of ~ , 1986.
William L. Stirling, Mayor
I, KATHRYN S. 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 ~>~/ day of ~ ~. A~ ~. ,
1986, which Resolution adopted subsequent to the public meeting
on such proposed budget held ~'~/ ~:~'~ .A~ ~-, ~ , 1986.
Kathryn S. Koch, City Clerk
BUDGET RESOLUTION EXHIBIT "A"
CITY OF ASPEN
1987 COMBINED BUDGET OF ALL FUNDS
BUDGET SUMMARY
TOTAL SOURCES OF FUNDS:
Operating Revenues $16,304,511
Bond Proceeds Received In A Prior Year 607,000
(Fund Balance)
New Bond Proceeds 6,130,000
$23,041,511
TOTAL USES OF FUNDS:
Operating Expenditures $(11,035,317)
Debt Service On Existing Financing (4,772,300)
Previously Approved Capital Expenditures (607,000)
Lodge Area Improvement District (6,130,000)
$(22,544,617)
Adjustment For Prior Year Bond Proceeds (607,000)
Net Fund Balance Increase - All Funds - 1987 (110,106)