Title
Ordinance No. 16-4 amending Ordinance No. 14-101 (2015 Appropriation Ordinance) for a Supplemental Appropriation to the General Fund in the amount of $2,100,000 to transfer the voter-approved retained estimated 2014 revenues above the 2014 Fiscal Year Revenue/Spending Limitations to the Capital Improvements Program Fund, and to the Capital Improvements Program Fund in the Amount of $2,100,000 for the Voter-Approved Park Trail Improvements
Body
From:
Kara Skinner, Chief Financial Officer
Summary:
The attached ordinance is a supplemental appropriation for the General Fund in the amount of $2.1 million to transfer the 2014 fiscal year revenue collected in excess of the 2014 fiscal year spending limitation, which voters approved to be retained and spent by the City to the Capital Improvements Fund for the voter-approved park trail improvements. The supplemental appropriation to the General Fund is required to accomplish a transfer of the $2.1 million to the Capital Improvements Program Fund. The supplemental appropriation to the Capital Improvements Program Fund is required to appropriate funds to the park trail projects.
On November 3, 2015, voters approved Ballot Issue 2D-the City’s request to retain and spend up to $2.1 million in estimated 2014 fiscal year revenues of the City that exceed the 2014 fiscal year spending limitation for park trail improvements. The ballot measure earmarks the funding for the repair, renovation and improvement to existing segments of priority multi-use trails in the City for the trail corridors listed below:
• Homestead Trail - reconstruction, signage and improvements
• Palmer Mesa Trail - reconstruction, signage and improvements
• Pikes Peak Greenway - reconstruction and signage
• Rock Island Trail - reconstruction and signage
• Sand Creek Trail - retainage walls, signage and improvements
• Shooks Run Trail - reconstruction, signage and improvements
• Sinton Trail - reconstruction, signage and improvements
• Skyline Trail - replacement of damaged sections
The ballot measure further provides that the work will be contracted out to the private sector.
Previous Council Action:
On August 22, 2015, City Council passed Resolution No. 79-15 approving the referral and placement of an issue on the November 3, 2015 ballot asking for voter approval to retain and spend up to $2.1 million in revenues above the 2014 fiscal year revenue/spending limitations for park trail improvements.
Background:
Under Charter § 7-90 (g), the City’s authorized change in fiscal year spending is limited to inflation plus City growth, and any voter approved changes. Under Colo. Const. Art. X, § 20 (7) (b), City spending is similarly limited to inflation plus local growth and any voter approved revenue changes. The Finance Department determined that it exceeded these limitations by $2.1 million in 2014.
Financial Implications:
The supplemental appropriation increases the 2015 General Fund expenditure budget by $2.1 million and the Capital Improvements Program Fund expenditure budget by $2.1 million. The source of General Fund funds is the restricted portion of the fund balance where the excess revenue was held pending the result of the November 2015 election.
Board/Commission Recommendation:
On July 8, 2015, the Parks Recreation and Cultural Services (Parks Department) staff shared with the Trails, Open Space and Parks (TOPS) Working Committee that a potential proposal for the $2.1 million may be available for Park trails. On July 9, 2015, the Mayor and Parks staff shared that there would be a proposal moving forward to City Council regarding the retention of the $2.1 million for park trails. During the Parks Advisory Board meeting, each of the existing trail segments was carefully reviewed. A consensus of the Parks Advisory Board supported the list of projects.
Stakeholder Process:
The recently adopted Parks System Master Plan indicates that trails are rated high for areas to improve and maintain. On July 8, 2015 and August 5, 2015, the proposed ballot information and the existing trail segments were shared with the TOPS Working Committee. On July 9, 2015, the Parks Advisory Board reviewed the specific trail segments being proposed. Parks staff spoke at the District 2 City Council Town Hall Meeting.
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move approval of the Ordinance Amending Ordinance No. 14-101 (2015 Appropriation Ordinance) for a Supplemental Appropriation to the General Fund in the Amount of $2,100,000 to Transfer the Voter-Approved Retained Estimated 2014 Revenues Above the 2014 Fiscal Year Revenue/Spending Limitations to the Capital Improvements Program Fund, and to the Capital Improvements Program Fund in the Amount of $2,100,000 for the Voter-Approved Park Trail Improvements.
Summary of Ordinance Language
An Ordinance Amending Ordinance No. 14-101 (2015 Appropriation Ordinance) for a Supplemental Appropriation to the General Fund in the Amount of $2,100,000 to Transfer the Voter-Approved Retained Estimated 2014 Revenues Above the 2014 Fiscal Year Revenue/Spending Limitations to the Capital Improvements Program Fund, and to the Capital Improvements Program Fund in the Amount of $2,100,000 for the Voter-Approved Park Trail Improvements