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 2021 Fiscal Year Budget by Making Supplemental Appropriations for the 2021 Fiscal Year (Second Reading - Approved on First Reading on July 6, 2021 by a vote 6-0)
Body
________________________________________________________________________________
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, in Attachment A, to the 2021 Budget total $13,017,277, with the majority requested for Economic Development, one-time projects funded out of the General Long-Term Planning Fund, Downtown improvements, and transportation projects. Supplemental revenue in the amount of $2,386,282 is also requested related to the Water Fund and Transportation Capital. 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 2021 Budget. A summary of requested items follows.
Discussion
Major requests included in this budget amendment are described below and are grouped by Town priority. All requested changes to appropriations are referred to in Attachment B and increase total Townwide expenditures for 2021 by $13,017,277.
Secure our water future
• Castle Rock Water requests supplemental appropriation of $1,399,800 in sale of assets revenue in the Water Fund and WISE infrastructure expenditures in the same amount in the Water Resources Fund from the sale of Cherokee groundwater rights, in exchange for WISE infrastructure capacity.
• Castle Rock Water requests supplemental appropriation of funds in the Water Fund in the amount of $986,641 to pay for a portion of the purchase of water rights from the Arapahoe County Water and Waste Water Authority.
Enhance our transportation
• The Public Works Department requests supplemental appropriation in the Transportation Fund in the amount of $931,562, which includes traffic signal technology grant expenses, bridge repair and maintenance, snow and ice control operating supplies, and street sign funding.
• Supplemental appropriation is requested in the Transportation Capital Fund in the amount of $750,000, with these funds paying for a portion of the Wilcox and South streets roundabout project.
Maintain strong Parks and Recreation
• The Parks Department requests supplemental appropriation in the General Fund in the amount of $236,482 for improvements at Philip S. Miller Park.
• Supplemental appropriation in the Parks Capital Fund of $50,000 is requested for Cobblestone Park design work.
• Supplemental appropriation in the General Long-Term Planning Fund in the amount of $60,000 is requested for Americans with Disability Act repairs.
Ensure outstanding public safety
• The Fire Department requests supplemental appropriation in the General Fund in the amount of $57,034 for furniture replacement at stations 151, 153, 154, and 155, and door and security camera upgrades at the Public Safety Training Facility.
• The Police Department requests supplemental appropriation in the General Fund for body worn cameras, Tasers, and evidence website services as part of a contract renewal in the amount of $138,120.
• The Police Department requests supplemental appropriation in the General Long-Term Planning Fund in the amount of $78,385 for the purchase of a de-escalation simulator.
Other Town funds and initiatives
• The Town Manager’s Office requests supplemental appropriation in the Economic Development Fund in the amount of $4,008,407 for economic development incentive agreements and development opportunities.
• The Town Manager’s Office requests supplemental appropriation in the General Long-Term Planning Fund in the amount of $2,217,842 for facility, technology and infrastructure needs.
• The Finance Department requests supplemental appropriation in the Downtown Development Authority TIF Fund in the amount of $1,272,783. This includes $750,000 to pay for a portion of the Wilcox and South streets roundabout project and $522,783 to fulfill commitments related to redevelopment agreements.
• Development Services requests supplemental appropriation in the amount of $650,000 in the Development Services Fund to update the downtown master plan and for software, building improvement, and repair and maintenance requests.
• Development Services is also requesting $208,606 in the Development Services Fund for personnel costs to re-class two existing positions to Senior Construction Inspectors, and to add one new Plan Reviewer, and new one Community Outreach Program Manager position.
The supplemental 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 these requested items while maintaining adequate reserves within each fund.
Staff Recommendation
Staff recommends that Town Council approve the Ordinance as written.
Proposed Motion
I move to approve the Ordinance as introduced by title, on first reading.
Attachments
Attachment A: Ordinance
Attachment B: Requests for Supplemental Appropriations
Attachment C: Estimated Ending Funds Available for 2021