HomeMy WebLinkAboutURA Resolution 2006-04
WHEAT RIDGE URBAN RENEWAL AUTHORITY
RESOLUTION NO. ~
Series of 2006
ORIGINAL
TITLE:
A RESOLUTION ENACTING A BUDGET AND
APPROPRIATION FOR THE YEAR 2007.
WHEREAS, C.R.S. 29-1-103 (1) of the Local Government Budget Law of Colorado
requires certain local governmental entities to prepare and adopt an annual budget; and
WHEREAS, the Attorney for the Authority has opined that the provisions of the Budget Law
do apply to the Authority; and
WHEREAS, notice of adoption of the 2006 budget and appropriation was given by the Urban
Renewal Authority in compliance with C.R.S. 29-1-106; and
WHEREAS, in compliance with the provisions of the Budget Law regarding notice,
objections, and hearing, a public hearing was held on the Budget and Appropriation for 2007 by the
Authority on November 10, 2006.
THEREFORE, BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority as
follows:
Section 1. The year 2007 budgets for the three funds as shown on Exhibit 1, Exhibit 2, and
Exhibit 3 attached hereto are hereby approved. The purposes of the 2007 budget is to make funds
available for normal operating expenses, to appropriate funds for defense of the Authority in legal
actions against the Authority, and to provide tax increment funding for an urban renewal project in
the urban renewal area. Sources of funds for the Authority are property tax increment and sales tax
increment generated by the urban renewal area.
Section 2. Total expenditures ofthe Authority do not exceed available revenues and
beginning fund balance.
Section 3. A certified copy of this resolution shall be filed with the Division of Local
Government.
ADOPTED the 5th day of December ,2006.
WHEAT RIDGE URBAN RENEWAL AUTHORITY
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Chair
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Secretary to the Autho . y -
\\srv-ci-eng-002\users$\awhite\All Files\URA\Budget\2007 budget res. doc
EXHIBIT 1
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Town Center Fund
Actual 2005 2006 Estimated 2007 Proposed
BEGINNING FUND BALANCE $ 223,101 $ 122,792 $ 126,615
Revenues
37-500-00-501 Property Tax Increment $ 275,084 $ 240,000 $ 240,000
37-500-00-504 Sales Tax Increment $ 100,000 $ 100,000 $ 100,000
37-580-00-581 Interest $ 3,744 $ 2,500 $ 3,500
TOTAL REVENUE $ 378,828 $ 342,500 $ 343,500
Personnel
37-120-600-602 Salaries $ $ $
37-120-600-625 FICA $ $ $
Total Personnel $ $ $
Supplies
37-120-650-651 Office Supplies $ $ 52 $ 200
37-120-650-654 Printing & Photocopying $ $ $ 800
37-120-650-655 Postage $ $ $ 200
Total Supplies $ $ 52 $ 1,200
Services
37-120-700-702 Conference & Meetings $ $ $ 1,200
37-120-700-706 Dues, Books, Sub $ 3,717 $ $ 3,800
37-120-700-740 Mileage $ $ $
37-120-700-750 Professional Services $ 37,167 $ 20,000 $ 60,000
37-120-700-758 City Reimbursement $ 6,683 $ 5,000 $ 5,000
37-120-700-760 Utilities & Maint. $ 802 $ 500 $ 500
37-120-700-799 Misc. $ 144 $ 125 $ 200
Total Services $ 48,512 $ 25,625 $ 70,700
Capital
37-120-800-801 Lands. Buildings, & Wat $ 81,013 $ $ 20,000
37-120-800-872 Site Improvements $ $ $
37-120-800-873 Payment to Fire District $ 14,613 $ 13,000 $ 16,000
37-120-800-872 PTI - Marketplace $ $ $
37-120-890-897 Trans to Walgreens Fund $ 335,000 $ 300,000 $ 200,000
Total Capital $ 430,625 $ 313,000 $ 236,000
TOTAL EXPENDITURES $ 479,137 $ 338,677 $ 307,900
ENDING FUND BALANCE $ 122,792 $ 126,615 $ 162,215
2007 Budget.xls
EXHIBIT 2
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Walgreens Project Fund
Actual 2005 Estimated 2006 Proposed 2007
BEGINNING FUND BALANCE $ 223,101 $ 560,118 $ 865,028
Revenues
37-580-00-501 Property Tax Increment $ $ $
37-580-00-584 Sales Tax Increment $ $ $
37-580-00-581 Interest $ 2,107 $ 5,000 $ 5,000
37-580-02-588 Sale of Property $ $
37-590-00-592 Trans from Town Cent Fund $ 335,000 $ 300,000 $ 200,000
TOTAL REVENUE $ 337,107 $ 305,000 $ 205,000
Services
37-121-700-702 Conference & Meetings $ $ $
37-121-700-706 Dues, Books, Sub $ $ $
37-121-700-740 Mileage $ $ $
37-121-700-750 Professional Services $ $ $
37-121-700-758 City Reimbursement $ $ $
37-121-700-799 Misc. $ 90 $ 90 $
Total Services $ 90 $ 90 $
Capital
37-121-800-801 Acquisition & Relocate $ $ $
37-121-800-872 Site Improvements $ $ $
37-121-900-901 Loan Payment $ $ $
Total Capital $ $ $
TOTAL EXPENDITURES $ 90 $ 90 $
ENDING FUND BALANCE $ 560,118 $865,028 $ 1,070,028
2007 Budget.xls
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Wheat Ridge Cyclery Project Fund
Proposed 2007
BEGINNING FUND BALANCE
$
Revenues
37-580-00-501 Property Tax Increment
37-580-00-584 Sales Tax Increment
37-580-00-581 Interest
37-580-02-588 Sale of Property
$
$ 24,000
$
$
TOTAL REVENUE
$ 24,000
EXHIBIT 3
Services
37-121-700-702 Conference & Meetings $
37-121-700-706 Dues, Books, Sub $
37-121-700-740 Mileage $
37-121-700-750 Professional Services $
37-121-700-758 City Reimbursement $
37-121-700-799 Misc. $
Total Services $
Capital
37-121-800-801 Acquisition & Relocate $
37-121-800-872 Site Improvements $ 24,000
37-121-900-901 Loan Payment $
Total Capital $ 24,000
TOTAL EXPENDITURES $ 24,000
ENDING FUND BALANCE $