HomeMy WebLinkAboutresolution.council.028-69RECORD OF PROCEEDINGS
1OO LEAVES
RESOLUTION NO. ~
(Series of 1969)
Adopting Budget for the year 1970.
WHEREAS, the City Administrator, previously designated
to prepare the budget has prepared and submitted to the Mayor
and City Council the Annual Budget for the City of Aspen, Colo-
rado, for the fiscal year beginning January 1, 1970, and ending
December 31, 1970; and,
WHEREAS, the Budget as submitted by the City Adminis-
trator was adopted by Resolution No. 17, Series of 1969; and,
WHEREAS, the estimated fiscal data available to the
City Administrator has since been updated and revised which
provides for an estimate of additional income and revenues in
the General, Water and Electric funds; and,
WHEREAS, the re-evaluation and re-estimate of the
revenues for the fiscal year beginning January 1, 1970 and
ending December 31, 1970 are such as to provide necessary ex-
penditures heretofore not included in the Budget; and,
WHEREAS, the amended and revised Budget sets forth
the following estimated fiscal data for the year 1970:
1. REVENUE AND BEGINNING SURPLUS
a. Surplus beginning of the year $ -0-
b. Anticipated Revenues from all
sources $ 1,520,025.24
2. EXPENSE AND CLOSING SURPLUS
a. Expenditure requirements $ 1,520,025.24
b. Surplus, closing of year $ -0-
3. THAT THE AGGREGATE EXPENDITURE
REQUIREMENTS BE DIVIDED RESPECT-
IVELY AS FOLLOWS:
a. To the General Fund $ 841,SS?.94
b. To the Water Fund $ 288,500.00
c. To the Electric Fund $ 314,717.30
d. To the Special Assessment
1963 Fund $ 15,660.00
e. To the Police Pension Fund $ 3,800.00
f. To the Special Assessment
1966-1 Fund $ 26,525.00
g. To the Special Assessment
1967-1 Fund $ 29,265.00
THAT THE RESERVE FOR DEPRECIATION
AND NON-CASH EXPENDITURES WILL REFLECT
THE FOLLOWING BOOK ENTRIES:
a. Electric Plant depreciation and
amortization of debt discount $ 14,000.00
b. Water Plant depreciation and
amortization of debt discount $ 51,800.00
WHEREAS,
for the year 1969
the assessed valuation of taxable property
in the City of Aspen, returned by the County
Assessor of Pitkin County, Colorado is the sum of $21,231,100.00
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Aspen, Colorado:
That the revised estimated budget expenditures require-
ment of $1,520,025.24 is declared to be the amount of revenue
necessary to be raised by tax levy and income from all other
sources, including surplus at the beginning of the year~ to pay
the current expenses and certain indebtedness of the City, including
interest upon the indebtedness, and to provide a reasonable surplus
at the close of the fiscal year beginning January 1, 1970, and
ending December 31, 1970.
BE IT FURTHER RESOLVED:
That a tax of two (2) mills be levied on each dollar of
the assessed valuation of the taxable property in the City of
Aspen for the purpose of raising the sum of $42,262.00 which,
together with the surplus and revenue from all other sources, is
estimated to meet budget expenditure requirements and provide
reasonable closing surplus for the fiscal year beginning January 1~
1970 and ending December 31, 1970.
DATED THIS ~ DAY OF ~.~,~ ~ , 1969.
I, LORRAINE GRAVES, duly elected City Clerk of the
City of Aspen, Colorado, do hereby certify-that the foregoing
is a true and correct copy of the Resolution ~adopted by the
Aspen City Council at a regular meeting held ~_~ ~
1969.