Town Council Highlights: Work Session Briefs

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Town of Vail - Town Council - Town Council Highlights - Archive - October 2, 2001 Page 8 of 10 criteria to be used in the Design Review Board's evaluation of the proposed material. See work session briefs for additional details, or contact Bill Gibson in the Community Development Department at 479- 2173. - -2002 Budget Acknowledging that additional changes are likely, the Council voted 5 -2 (Donovan, Foley against) to approve first reading of the 2002 budget ordinance. Councilmembers will meet again next Tuesday to refine the $43 million budget document in preparation for second reading at the O 16 meeting. A super majority vote of five or more members will be need to finalize the budget, due to an uneven split of sales tax revenues assigned to the general fund (operations) versus the capital projects fun (public improvements). Currently, the budget shows a higher percentage of sales tax assigned to the general fund to help balance the budget. During the work session, Councilmembers had asked Town Manager B McLaurin to produce a budget reflecting revenues and expenses at or below the revised 2001 budget, noting their concerns about the aftermat of Sept. 11. The result requires cuts of $4.5 to $5 million, according to McLaurin. Those cuts will be the basis of next Tuesday's discussion. In voting to approve the budget on first reading, Councilmembers Chuck Ogilby and Rod Slifer characterized the document as a roadmap that ca be readjusted in March once ski season revenue trends are identified. In voting against the budget, Councilmember Diana Donovan said addition cuts need to be made to show the town's fiscal responsibility. Councilma Kevin Foley agreed. He also expressed concerns about potential revenu shortfalls for the fourth quarter of the current budget year as well as his opposition to the Donovan Park pavilion, which remains funded at $3.2 million. For more information, contact Town Manager Bob McLaurin at 479 -2105. -- Supplemental to 2001 Budget The Council voted 6 -1 (Foley against) to approve second reading of an ordinance authorizing supplemental revenues and expenditures to the 2001 budget. The vote occurred about Councilmembers amended the ordinance to remove a $1.5 million transfer from the general fund to the capital projects fund for the Donovan Park pavilion project, noting the transfer isn't necessary until 2002. The amended ordinance increases th general fund expenditure budget by $544,205, reduces expenses in the capital projects fund by $1.8 million and reduces expenses in the Real Estate Transfer Tax fund by $6.6 million for a net total budget reduction $7.9 million. For additional details, contact Finance Director Steve Thompson at 479 -2116. /'11 22 http: / /www.ei.vail.co.us /town council /highlights /archive /2001 /011002.htm 01/30/2002