HomeMy WebLinkAboutbocc.res.047.2010A RESOLUTION OF THE BOARD OF COUNTY CONIlVIISSIONERS OF PITHIN
COUNTY, COLORADO, APPROVING A REVISED ELECTED OFFICIALS 2010
BUDGET FOR THE 1/2 CENT TRANSIT SALES AND USE TAX FUND
RESOLUTION NO. d y7 -2010
RECITALS
1. The Aspen City Council, the Pitkin County Board of County Commissioners and the Town
Council of Snowrnass Village (the 'Parties") have previously identified general elements of
their Comprehensive Valley Transportation Plan (the 'Plan") which are eligible for funding
from the Pitkin County one-half cent transit sales and use tax.
2. By intergovernmental agreement dated September 14, 1993, the Parties agreed:
a. to conduct regular public meetings to continue to refine and agree upon proposed
projects and transportation elements consistent with or complimentary to the Plan; and
b. that all expenditures and projects to be funded from the County-wide one-half cent
transit sales and use tax shall be agreed upon by the Parties and evidenced by a
resolution adopted by the governing body of each party.
3. At a public meeting held on March 18, 2010, the Parties considered the following
supplemental budget requests for the year 2010 for the Pitkin County one-half cent transit
sales and use tax:
a. Increase sales tax revenue by $174,000 to $3,523,000;
b. Increase use tax revenue by $245,000 to $934,000;
c. Increase RFTA's 81.04% share of the sales ta~c revenue by $141,009 to $2,855,039;
d. Increase the no-fare Aspen-Snowmass bus service subsidy by $296,039 to $578,760 in
order to extend the service through year-end; and
e. Increase the no-fare Woody Creek bus service subsidy by $1,420 to $4,030 in order to
extend the service through year-end
4. By adoption of this resolution the Board of County Commissioners wishes to approve the
supplemental budget requests.
NOW THEREFORE BE IT RESOLVED by the Board of County Commissioners of
Pitkin County, Colorado, that the attached revised 2010 budget for the one-half cent transit sales and
use taac is hereby approved as summarized below:
Tota12010 Revenues $4,558,800
Tota12010 Expenditures $4,081,090
INTRODUCED, READ AND ADOPTED ON APRIL 14, 2010.
~ Jones
County
MANAGER APPROVAL:
~~~ ~~
Hilary et her
County nager
BOARD OF COUNTY COMNIISSIONERS
OF PITKIN COUNTY, COLORADO
George N
Date: l ay~ t'"'
~
2010 Budget and Multi-year Plan
EOTC Transit Project Funding Actual/ Revised Plan Plan Plan Plan
Estimate Budget
~~ - _ ~, .
' 2009
..~ 2010
~~ 2011 2072
~ ry 2013
~ 2014
a) Pitkm Count 1/2% sales tax ~ ~ ~
Y
3,371,170
3,523,000 ~ ~~" ~
3,576 000
3,630,000 ~ ~'
3,684,000 '` ~ ~'
3 739,000~~~
b) Pitkin County 1/2% use tax 959,004 934,000 981,000 1,030,000 1,082,000 1
136
000
c Investment income & misc. 174,000 101,800 262,800 455,800 629 800 ,
,
725 800
Total Fundin Sources 4 504,174 4,558 800 4,819,800 5,115,800 5,395 800 5,600,800
a- ~ __ ~ ~,.m,
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1) Use tax collection costs 141,900 126,549 132,876 139,520 146,496 153
821
2) Administrative cost allocation 35,015 34,192 35,902 37,697 39,582 ,
41
561
3) Bus stop safety imprvs / cab ride in-lieu 7,804 11,500 11,788 12,082 12
384 ,
12
694
4) X-Games transit subsidy 50,000 50,000 50,000 50,000 , ,
5) Brush Creek parking expansion
6) Brush Creek parking expansion - annual operating costs 15,070 25,000 26,000 27,040 28,122 29,246
7) Snowmass Village transit improvements ($6.5 million total) 6
430
165
8) RFTA contribution (81.04%of 1/2%sales tax) 2,731,996 2,855,039 2,897,990 2,941,752 2,985,514 ,
,
3
030
086
9) Buttermilk to Roundabout bus lanes, construction 538,779 396,020 carryover from '09 ,
,
10) No-fare Aspen-Snowmass bus service (11/23/08-4/1iJ09) 186,748
11) No-fare Aspen-Snowmass bus service (4/13/09-6/14/09) 44,012
12) No-fare Aspen-Snowmass bus service (6/15/09-9/30/09) 79,365
13) No-fare Aspen-Snowmass bus service (10/1/09-4l15/13) 118,843 578,760 601,910 625,987 248
625
14) No-fare Aspen-Snowmass bus service study 17,617 ,
15 No-fare Wood Creek bus service winter and summer -4/15/13 4,030 4,191 4
359 2
936
Total Uses
E
T 3,967,148 4,081,090 3,760,657 ,
3,838,437 ,
3,463,659 9,697,573
O
CANNUALSURPLUSI(DEFICIT) 537,026 477,710 1,059,143 1,277,363 1,932,141 (4,096,~73
EOTC CUMULATIVE SURPLUS/ DEFICIT FUND BALANCE 9,50i,447 9,97g,157 11,038,300 12,315,663 14,247
804 10
151
031
Revenue ~roiections , ,
,
a) sales tax
b) use tax -16.4% 4.5 % 1.5% 1.5% 1.5°/ 1.5%
c) investment earnings rate -2.6 %
7.0% 5.0%
2.5% 5.0%
4.0% 5.0%
5.0% 5.0%
5.0%
FUND BALANCE DESIGNATIONS
Fund balance desi nated for Snowmass Villa e transit im rovements 6,430,165 6,430,165 6,430,165 6,430,165 6,430,165
Fund balance designated for budget carry-overs 396,020
Annual allocation to Entrance-to-Aspen 873,730 939,481 980,671 i,015,947 1,052,383
Fund balance desi nated for Entrance-to-As en 2,675,262 3,548,992 4,488 473 5,469,144 6,485,091 7,537,474
Remaining annual discretionary funding (36,143) 119,662 296,692 916,194 1,281,009
Pitkin County 1/2% sales tax
Pitkin County 1/2% use tax
less committed funding
less RFTA contribuYion (81.04% of 1/2% sales tax)
Net revenue to be ailocated
Annual 2/3's allocation to Entrance-to-Aspen
plus use of
3,523,000 3,576,000 3,630,000 3,684,000 3,739,000
934,000 981,000 1,030,000 1,082,000 1.136.000
71
transit imprvs)
(budget
1,015,94
4/8/2010 10EOTC b.xlsx