To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Trish Muller, CPA, Finance Director
Title
Ordinance Approving the Second Amendment to the 2024 Fiscal Year Budget by Making Supplemental Appropriations for the 2024 Fiscal Year (Second Reading - Approved on First Reading on July 16, 2024, 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 five years.
Supplemental expenditure requests in this proposed Second Amendment to the 2024 Budget total $12,825,188. Also, an additional $445,888 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 Second Amendment to the 2024 Budget. Following is a summary of requested items.
Discussion
Total requested changes to appropriations referred to in Attachment B increase total expenditures for 2024 by $12,825,188. Major requests included in this budget amendment are described below and are grouped by Town priority.
Secure our water future
• Castle Rock Water requests supplemental appropriation of funds totaling $8,600,000 for planned expenses associated with the Plum Creek Water Purification (PCWPF) Expansion project.
• Castle Rock Water requests supplemental appropriation of funds totaling $2,700,000 for the Paintbrush Park construction project to update the existing pond.
• Castle Rock Water requests supplemental appropriation of funds totaling $50,000 for the conservation rebate program. These funds are offset by an equal revenue received from Colorado Water Conservation Board.
Maintain strong Parks and Recreation
• The Parks and Recreation Department requests supplemental appropriation of $1,000,000 for Lost Canyon Ranch. These funds will be used to complete master planning and improvements including trail design.
• The Parks and Recreation Department is requesting supplemental appropriation of $120,000 for the reconstruction project of tees nine and eighteen.
Ensure outstanding public safety
• The Police Department requests supplemental appropriation of $355,188 for a School Resource Officer’s salary, equipment, and a vehicle. These expenses are being reimbursed from Douglas County School District.
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 2024