HomeMy WebLinkAbout20-107 Supplemental Budget 2020 11-18-2020RESOLUTION N0.20-107
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF
FIRESTONE, COLORADO, APPROVING SUPPLEMENTAL BUDGET
APPROPRIATIONS TO THE TOWN OF FIRESTONE'S 2020 BUDGET
WHEREAS, on December 4, 2019, the Board of Trustees of the Town of Firestone
("Town") adopted the Towns' 2020 budget ("Budget"); and
WHEREAS, the Town's Board of Trustees desires to supplement the Budget as to its
Capital Projects Fund and Water Fund; and
WHEREAS, as required by law, the Town has published notice of and held a public
hearing regarding the proposed supplemental appropriations; and
WHEREAS, the Board of Trustees deems it in the best interest of the Town to
supplement the Budget's Capital Projects Fund and Water Fund as set forth in Exhibit A.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE, COLORADO:
The supplemental appropriations for the Town of Firestone's 2020 Budget as set forth in
Exhibit A. which is attached hereto and made a part of this resolution is hereby approved and the
Town's Finance Director is ordered to affect the approved supplemental appropriations.
INTRODUCED, READ AND ADOPTED this���ay of Y", 2020.
TOWN OF FIRESTONE, COLORADO
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osC ' 4FI BAbi Sindear, Mayor
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J/ssJic7a Koenig, C C, own Clerk
APPROVED AS TO FO
William
Town Attorney
1
EXHIBIT A
2020 Original
Budget
Budget
Modification
GENERAL FUND
Impact Fee Revenue 2,27%458 (21279,458)
Purpose: To remove the Impact Fee Revenue from the General Fund and record it in the
Capital Projects Fund and Water Fund.
CAPITAL PROJECTS FUND
Grant Revenue
2020
Amended
Budget
- 100,000 100,000
Purpose: To record grant revenue pursuant to the receipt of the DOLA Energy Efficiency grant
for the construction of the new Town Hall.
Impact Fee Revenue
- 2,033,352 2,033,352
Purpose: To record the impact fee revenue in the Capital Projects fund instead of the General
Fund where it was originally budgeted.
Transfers Out
1,535,000 2,735,451 4,270,451
Purpose: To appropriate funds for the transfer out to the Debt Service Fund for the principal
and interest payments of the 2014 revenue bonds and the 2019 COP's.
Capital Outlay - 349,034
Purpose: To carry-over budgeted funds from 2019 for the Two Hunters Park Project.
Principal and Interest Payments 912,251 (912,251)
Purpose: To remove prinicipal and interest funds that were appropriated to be paid out
of the Capital Projects Fund but will now be paid out of the Debt Service Fund,
DEBT SERVICE FUND
Principal and Interest Payments 993,200 917,741
Purpose: To appropriate funds for the prinicipal and interest payments for the 2014 Revenue
Bonds and for the 2019 COP's.
349,034
1,910,941
2020 Original Budget 2020
Budget Modification Amended
Budget
WATER FUND
Debt Proceeds 31892,195 45,081,916 48,974,111
Purpose: To record the debt proceeds pursuant to the issuance of the 2020 Water Enterprise
Revenue Bonds for the purpose of constructing the St. Vrain Water Treatment Plant.
Interest Payment 270,000 392,013 662,013
Purpose: To appropriate funds for the interest payment for the 2020 Water Enterprise
Revenue Bonds.
Capital Outlay %396,243 12,591,360 171987,603
Purpose: To appropriate funds for the construction of the St. Vrain Water Treatment Plant.
Impact Fee Revenue - 246,106 246,106
Purpose: To record the impact fee revenue in the Water fund instead of the General
Fund where it was originally budgeted.