Follow The 2010 Town Budgeting Process
Study sessions held in October; public hearings held in November
The Estes Park Town Board will begin reviewing the 2010 Town budget during study sessions to be held the first four Fridays in October. The public is encouraged to attend study sessions, although public comment is not part of the process until the November 10 and 24 Town Board meetings. Study sessions will be held from 8:30 a.m. until 12:00 p.m. in the Town Board room of Town Hall, 170 MacGregor Avenue.
The October 2 study session will include presentations on the following funds: Vehicle replacement, Information Technology, Light and Power, Water, Legislative, Executive, Elections and Finance. The October 9 study session will include presentations on the following funds: Museum, Senior Center, Convention & Visitors Bureau, Transportation and Police including Public Safety, Communications and Community Service. The October 16 study session will include presentations on the following funds: Fire, Community Development, Protective Inspections, Buildings, Engineering, Streets, Parks, Conservation Trust, Open Space and Fleet. The October 23 study session will include presentations on the following funds: Catastrophic Loss, Building Authority, Fire Pension, Police Pension, Theater, Employees Benefits, Community Services Grants, Community Reinvestment, Contingency and Transfers, Medical Insurance and the 2010 Compensation Plan.
The Town also encourages the public to attend 2010 budget hearings, which will take place at the November 10 and November 24 Town Board meetings at 7:00 p.m. in the Town Board Room of Town Hall. These two meetings include public comment and are the culmination of a seven-month budgeting process.
According to the Estes Park Municipal Code, it is Town Administrator Jacquie Halburnt’s responsibility to recommend an annual budget to the Town Board, to administer the budget as it is adopted and to keep the Board of Trustees fully advised at all times of the financial condition of the Town. In 2009, the budget changed from a biennial budget process to an annual budget process.
Each year, the process begins with creating a budget schedule in April. Next, departments review their budgets and potential needs for the following year. The department heads then meet with the Town Administrator, Deputy Town Administrator and Finance Officer to begin assessing their needs. Pre-budget work sessions were held in July with the Mayor and Board of Trustees to determine priorities and give guidance in budget preparation. The Finance Department then crafts the draft budget to be reviewed with the Town Board during the October budget study sessions. After the budget is approved, it is printed and submitted to the State of Colorado by the end of January.
The Town budget utilizes six types of funds: General, Special Revenue, Debt Service, Enterprise, Internal Service and Fiduciary. The General Fund has 15 departments including Administration, Finance, Community Development, Police, Public Works and Transportation. Revenues for the General Fund are primarily from sales tax. The General Fund strives to maintain a fund balance equal to 30 percent of total expenditures. Special Revenue funds generate some but not all of their own income and include Community Reinvestment, Museum, Senior Center, Conservation Trust, Open Space and CVB. The General Fund subsidizes the Special Revenue funds to varying degrees. As such, Special Revenue Funds generally only maintain fund balances of five percent or less. Enterprise Funds operate much as would a private business, and include the Light & Power and Water Funds. Debt Service funds exist to service debt obligations and include the Building Authority Fund. Internal Service funds exist to service the operation of the Town, and include Fleet, Catastrophic Loss, Medical, Vehicle Replacement and Information Technology. Fiduciary Funds exist to separate assets that the Town manages for third parties –Police and Fire Pensions and Theater (Friends of Stanley Hall).
The 2008 and 2009 Town budgets as well as the Comprehensive Annual Financial Report are available at www.estes.org/finance. For more information please call the Public Information Office at 970-577-3701. To receive Town news in your e-mail inbox, please e-mail firstname.lastname@example.org.