manitou springs city council regular meeting agenda city council

under GASB 54 this is a restricted amount and must be accounted for separately. Also, the
Bridge Project is drawing from that revenue line and is not available to other capital fund projects.
In compliance with GASB 54 certain funds without a dedicated revenue source must be folded into
existing funds, but their related revenues and expenditures should be kept in assigned, separate fund
balances, within those funds. To accomplish this, a separate accounting ledger titled Restricted
General Fund Revenues/Expenditures for the Barr Trail Parking Lot (Workbook Ref. # Tab P) has
been added to the General Fund budget to track these activities. One activity is currently being
tracked at this time:
i. Barr Trail Parking Activities - Barr Trail Parking lot revenues are restricted for use for
expenditures associated with the Barr Trail Parking lot and trailhead area as per the
Intergovernmental agreement between the City and Colorado Springs Utilities, the
owner of the parking lot.
Activity in this account show assigned revenues of $111,055 and $166,934 for FY2012
and FY2013, respectively. Expenses for both FY2012 and FY2013 include: a portion of
the Residential Parking Program Study; parking kiosk credit card fees, capital project
reimbursement in FY2011, only; the Barr Trail facility maintenance and Barr Trail Shuttle
match for a CMAQ grant of $308,970. The FY2013 year-end fund balance is projected
to be $79,053.
2. Enterprise Funds – These are “Proprietary Funds” that operate in a manner similar to a private business
enterprise. They are, by definition, fee driven activities that account for their own operating and capital
expenses. The City has four such funds: Water, Sewer, Storm Drainage Management and Manitou Springs
Park Authority Funds.
a. Water Fund (Workbook Ref. # Tab 2) - This enterprise accounts for operating revenues and cash
basis expenses of the water utility. The utility services roughly 2,200 customers, repairs 50,000 lineal
feet of water lines, maintains 2 storage tanks and 15 in-town pressure reducing values. The utility
plans to replace a water main on Waltham, replace two treatment plant compressors, update GIS,
and purchase a demolition saw. A request to install a card reader security gate, at the plant, has
been moved out to FY2014. The fund is fiscally sound with a projected “Net Position” for FY2013 of
$1,103,907, which is a decrease of -652,703 from the previous year-end estimates.
This fund carries a 5-year capital plan to replace aging water system infrastructure and equipment:
Water/Sewer FY2013 - FY2017 Equipment and Improvements List (60/40 Split)
Water & Sewer Enterprise Funds Combined Financing
Financing
Terms
2013 2014 2015 2016 2017 Totals
Mobile diesel air compressor 5-year $25,000 $25,000
Video camera mounted vehicle 5-year $95,000 $95,000
4X4 3/4 diesel standard cab 5-year $40,000 $45,000 $85,000
4X4 Water meter SUV 5-year $30,000 $30,000
Vactor truck 10-year $250,000 $250,000
Skid loader 10-year $100,000 $100,000
Truck Excavator 10-year $300,000 $300,000
Totals $25,000 $345,000 $70,000 $100,000 $345,000 $885,000
Capital Purchase Equipment Financing 2013 2014 2015 2016 2017 Totals
Gate+ Security Card Entry System None $3,500 $3,500
GIS Unit upgrade None $2,500 $2,500
2 Compressors (Water Only) None $12,000 $12,000
1 Chainsaw (water Only) None $1,200 $1,200
2 Backwash Blowers (Water Only) None $25,000 $25,000
Demolition Saw None $2,000 $2,000
Totals $15,700 $28,500 $0 $2,000 $0 $46,200
Grand Total $40,700 $373,500 $70,000 $102,000 $345,000 $931,200
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