To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Trish Muller CPA, Finance Director
Title
Ordinance Approving the Third Amendment to the 2023 Fiscal Year Budget by Making Supplemental Appropriations for the 2023 Fiscal Year (Second Reading - Approved on First Reading on September 5, 2023, by a vote 7-0)
Body
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Executive Summary
The charter for the Town of Castle Rock allows for amendments to budget appropriations, including requests for supplemental appropriations that require approval by ordinance (Section 9.10). The Finance Department prepares budget amendments for Town Council consideration based on needs that may arise throughout the year. The number of budget amendments varies by year depending on needs/opportunities as they are identified. The chart below shows supplemental appropriations for the last four years and the budget amendments approved to date in 2023.
Supplemental expenditure requests in this proposed Third Amendment to the 2023 Budget total $6,115,138. Also, an additional $2,700,944 of revenue is being requested. Descriptions of requested items are included in Attachment B. The Finance Department has reviewed all requests and has determined that sufficient funding is available to accommodate this proposed Third Amendment to the 2023 Budget. Following is a summary of requested items.
Discussion
Total requested changes to appropriations referred to in Attachment B increase total expenditures for 2023 by $6,115,138. Major requests included in this budget amendment are described below and are grouped by Town priority.
Maintain strong Parks and Recreation
• The Parks and Recreation Department requests supplemental appropriation of $2,670,385 for the Recreation Center slide tower remodel.
• The Parks and Recreation Department requests supplemental appropriation of $1,089,121 for the design of the Tributary Trail.
• The Parks and Recreation Department requests supplemental appropriation of $462,000 for athletic program expenses. A portion of these expenses will be offset with revenues received from additional charges for services as well as the Colorado Stability Grant.
• The Parks and Recreation Department requests supplemental appropriation of $157,252 for the Golf Fund. These funds will be used to increase the seasonal personnel budget due to inflation.
• The Parks and Recreation Department requests supplemental appropriation of $136,893 for roof repairs at the mac, roof replacements for the Recreation Center boiler room and Butterfield pool, and purchasing used trucks for community center operations.
Ensure outstanding public safety
• The Police Department requests supplemental appropriation of $163,846 for a School Resource Officer’s salary, equipment, and a vehicle. These expenses are being reimbursed from the Aspen View Academy in Douglas County School District.
• The Fire Department requests supplemental appropriation of $63,543 for startup costs associated with the new records management software.
Other Town funds and initiatives
• The Finance Department is requesting supplemental appropriation of $1,370,385 to begin an interfund loan from the General Fund to the Community Center fund for the Recreation Center slide tower remodel. These funds will be paid back in accordance with the agreement over 10 years.
The additional amount of expenditures requested in this amendment are shown below and are grouped by Town fund.
Budget Impact
As presented in Attachment C, the Finance Department has ensured that funding is available through either revenues and/or fund balance for requested items, maintaining adequate reserves within each fund.
Staff Recommendation
Staff recommends that Town Council approve the Ordinance.
Proposed Motion
I move to approve on the Ordinance as introduced by title, on first reading.
Alternative Motions
“I move to approve the resolution as introduced by title, with the following conditions: (list conditions).
“I move to continue this item to the Town Council meeting on _____ date to allow additional time to (list information needed).”
Attachments
Attachment A: Ordinance
Attachment B: Requests for Supplemental Appropriation
Attachment C: Estimated Ending Funds Available for 2023