HomeMy WebLinkAboutbocc.res.110.2011 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF PITKIN
COUNTY, COLORADO, APPROVING THE INITIAL 2012 BUDGET FOR THE 1/2
CENT TRANSIT SALES AND USE TAX FUND
RESOLUTION NO. 1/e) -2011
RECITALS
1. The Aspen City Council, the Pitkin County Board of County Commissioners and
the Town Council of Snowmass 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 goveming body of each party.
3. At the EOTC meeting held on October 20, 2011, the Parties considered and
approved the attached proposed 2012 budget for the Pitkin County one -half cent transit sales and
use tax.
4. By adoption of this resolution the Board of County Commissioners wishes to
ratify the approval given at the EOTC meeting.
NOW THEREFORE BE IT RESOLVED by the Board of County Commissioners of
Pitkin County, Colorado, that the attached initial 2012 budget for the one -half cent transit sales and
use tax is hereby approved as summarized below:
Total 2012 Revenues $4,723,660
Total 2012 Expenditures $3,839,590
INTRODUCED, READ AND ADOPTED ON DECEMBER 7, 2011.
ATTE T: BOARD OF COUNTY COMMI : 10
OF PITKIN COUNTY, COL I ' • ; _�
Ng*
By: 5
Jean : tte Jones Rach • E. Richards, Chai iman
Dep ty County Cler
Date: tit3
MANAGER APPROVAL:
on ' eac i r ounty Manager
Proposed 2012 Budget and Multi -year Plan
EOTC Transit Project Funding Actual Revised Proposed
Estimate Budget Plan Plan Plan Plan
2010 2011 2012 2013 2014 2015 2016
FUNDING SOURCES:
a) Pitkin County 1/2% sales tax 3,580,664 3,724,000 3,798,000 3,893,000 4,010,000 4,150,000 4,295,000
b) Pitkin County 1/2% use tax 815,178 820,000 850,000 810,000 800,000 840,000 882,000
c) Investment income & misc. 112,981 86,000 75,660 99,000 275,000 442,000 305,000
d) Brush Creek Lot rentals 12,550 4,000
Total Funding Sources 4,521,373 4,634,000 4,723,660 4,802,000 5,085,000 5,432,000 5,482,000
FUNDING USES:
1) `U� taXOa3et3ion c s 159 073. 90,888 '&3` 463 99412 ,, 144383 109,,602 , 115,082'
2) At nylistratnre 36437 15,880 "19,390,f:":"',", 20360 .2131) 2 2446 _ - 23,569
3) Bus stop safety imprys f cab dde in lieu 9186 11 000 11,000 11.,275 11,, 57 11,845 12,142
4) X G transit ubsI4y 5(tf {# 50000 50 000 x61 0 50,000
8) LS13 rBei patktng sxpa(4on aniwal' tg s fi "'.$0411":""": 4$5 3C, 31 200 " 1 448 33746 35,096
} . iRF"l1 pool bution 104% of 1/2% s.ta ) .,, Z99147 , 3,01 5 „ ,.'.1 577.889 .. 3154 867" ; ; ^3,249;7014'; 063160.., 3,460,688'
7) Snowmass Village transit improvements ($6.5 million total) 6,430,165
8) Buttermilk to Roundabout bus lanes, construction 475,922 < carryover from 2009
9) No-fare Aspen-Snowmass-Woody Creek bus service (10/1/09-4/7/13) 551,071 553,838 553,838 275,881
10) SH82 & AABC pedestrian crossing design & engineering 250,000
Total Uses 4,216,800 4,018,821 3,839,590 3,643,015 3,469,469 10,020,965 3,716,556
DoT ANrataAL stRpr4tS(fEAaT) _ .. �. � .
364,8119;" .61t180 484,070., ', , , ;t150,985 ...;:41;615,531,,,, (4 ;588,965) .,.;1 755,444
EOTC CUMULATIVE SURPLUS /(DEFICIT) FUND BALANCE 9,545,256 10,160,435 11, 044,505 12,203,490 'I 13,819,021 9,230,056 10,995,500
Revenue woiections:
a) sales tax - estimate 6.2% 4.0% 2.0% 2.5% 3.0% 3.5% 3.5%
b) use tax - estimate 18.0% 0.6% 3.7% -4.7% -1.2% 5.0% 5.0%
c) investment earnings rate 1.12% 0.90% 0.75% 0.90% 2.25% 3.20% 3.30%
Calculation of amount allocated to Entrance - to - Aspen
Pitkin County 1/2% sales tax 3,580,664 3,724,000 3,798,000 3,893,000 4,010,000 4,150,000 4,295,000
Pitkin County 1/2% use tax 815,178 820,000 850,000 810,000 800,000 840,000 882,000
less T:::;';(288,037) (197,053) (207,853) (212,247) (219,765) (2276408 (235,888)
les$ +lx
"RFTA tiibutiixl (81.04 % d 1/2§6 sales to rj...... , (2,901,770y (3,154,887) (3,249,70, (3,393,160) ' (3,480,668)
Net revenue to be allocated 1,206,035 1,329,018 1,362,248 1,335,866 1,340,531 1,399,200 1,460,444
Annual 2/3's allocation to Entrance - to-Aspen 804,023 886,012 908,165 890,577 893,687 932,800 973,629
$50,000 per year reimbursement to ETA for 2011 $250,000 ped crossing funding 50,000 50,000 50,000 50,000
pkis/minus remaining annual discretionary funding (23,528) (270,833) (24,095)
Year-end fund balance designated for Entrance -do -Aspen 3,115,091 3,730,270 4,614,340 5,554,917 6,498,604 7,481,404 8,505,033
Calculation of amount allocated to discretionary funding
IMCt. .,.,. )IAt_IIRPLU6(after9'tndt+ptkxns) ;;: "
` H",354,573 61 ,? : 854,070 1,158,985;,-„" :1,515 531... (4588,965) 1,765 44.4
plus use of designated fund balance for bus lanes construction carryover from 2009 475,922
plus use of designated fund balance for Snowmass Village transit improvements 6,430,165 -
less Annual 2/3's allocation to Entrance - to-Aspen (804,023) (886,012) (908,165) (890,577) (893,687) (932,800) (973,629)
Remaining annual discretionary funding (23,528) (270,833) (24,095) 268,408 721,844 908,400 791,815
less 50,000 per year reimbursement to ETA for 2011 $250,000 ped crossing funding (50,000) (50,000) (50,000) (50,000)
Net remaining annual discretionary funding after ETA reimbursement 218,408 671,844 858,400 741,815
Cumulative rernaining`d(scretk>t,ary funding after. ETA. reimbursement 218,408 890,252 1,748,652 2,490,466
remaining balance to reimburse ETA for 2011 $250,000 advance 250,000 250,000 200,000 150,000 100,000 50,000
Fund balance designated for Snowmass Village transit improvements 6,430,165 6,430,165 6,430,165 6,430,165 6,430,165 - - I
11/30/2011 12 EOTC proposed budget.xlsx ,n