manitou springs city council regular meeting agenda city council

DOWNTOWN PUBLIC FACILITES FUND
This budget accounts for the debt and .3% sales taxes & expenditures designated for Downtown improvements.
Tab 10
In 2009, the City completed Phase 5A of its 6 Phase Downtown Revitalization Project. The final phase, Phase 5B
was in 2012. The engineers estimate for construction of Phase 5B was $1,200,000. Improvements include the
under- grounding of overhead utilities, installation of decorative street lamps, replacement of existing sidewalks,
pedestrian amenity zones, ADA complaint crosswalks and a concrete center lane with milling and asphalt
overlay of the roadway. In 2004, the City issued $1,850,000 in Sales and Use Tax Revenue Bonds to finance the
Capital Improvements related to this fund and to act as match for Grant monies. Final payment on these Bonds
will be in January 2020. Voters approved a temporary .3% increase in sales tax from 3.6% to 3.9% and in use tax
from 3.5% to 3.8%, on 11/4/03, to fund these bonds, which sunset in 2020.
2012
2010 2011 Original FINAL 2013
ACCOUNT DESCRIPTION ACTUAL ACTUAL BUDGET BUDGET BUDGET
-------------------------------------------------------------- ----------- --------------- ----------- -------------- ------------
Revenues:
35-311-300 GENERAL SALES TAX 158,404 164,371 171,494 171,494 172,590
35-334-725 FEDERAL GRANT PROCEEDS - 91,947 1,115,497 822,654 a -
35-361-190 INVESTMENT INTEREST - - - -
35-365-500 UNCLASSIFIED - 6,930 - -
35-390-100 DISCOUNTS TAKEN 2,682 2,479 - -
35-391-326 TRANSFER FROM RTA SPECIAL 37,053 10,338 369,846 262,276 a -
35-391-327 TRANSFER FROM WATER FUND 18,634 - - -
35-392-550 SALES OF PROJECT MATERIAL - - -
TOTAL REVENUES: 216,772 276,065 1,656,837 1,256,424 172,590
prior fund balance: (148,285) (118,095) (60,444) (60,444) (57,919)
TOTAL FUNDS AVAILABLE 68,487 157,971 1,596,393 1,195,980 114,671
Total Expenses: -
35-498-819 BOND INTEREST- 2003 SERIE 66,879 63,148 58,969 58,969 54,255
35-498-820 BOND PRINCIPAL, SERIES 20 95,000 100,000 110,000 110,000 120,000
35-499-320 SERVICES-PROFESSONAL(GRAN - - - -
35-499-422 UNCOVERED LOSSES - - - -
35-499-550 PRINTING/PHOTOCOPING/BIND - - - -
35-499-576 INVENTORY & ANALYSIS - - - -
35-499-577 PRELIMINARY DESIGN - - - -
35-499-578 DISIGN DEVELOPMENT - - -
35-499-579 CONSTRUCTION ADMINISTRATI - - - -
35-499-580 NOLTE REIMBURSABLE EXPENS - - - -
35-499-582 REIMBURSEABLE EXPENSES-GR - - - -
35-499-583 SHOSHONE SPGS ADDITIONAL - - - -
35-499-615 POSTAGE (US MAIL/FEDEX/UP - - - -
35-499-800 BOND EXPENSE 3,182 2,729 - -
35-499-810 PHASE 1A SHOSHONE SPRING - - - -
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