HomeMy WebLinkAboutPACKET Town Board 2009-07-28Prepared7/16/09*Revised7/27/09ActionItemsRearrangedITQWNoESTESPARKTheMissionoftheTownofEstesParkistoplanandprovidereliable,high-valueservicesforourcitizens,visitors,andemployees.Wetakegreatprideensuringandenhancingthequalityoflifeinourcommunitybybeinggoodstewardsofpublicresourcesandnaturalsetting.BOARDOFTRUSTEES-TOWNOFESTESPARKTuesday,July28,20097:00p.m.AGENDAPLEDGEOFALLEGIANCE.(Anypersondesiringtoparticipate,pleasejointheBoardinthePledgeofAllegiance).PUBLICCOMMENT.(Pleasestateyournameandaddress).TOWNBOARDCOMMENTS.CONSENTAGENDA:1.TownBoardMeetingMinutesdatedJuly14,2009andTownBoardStudySessiondatedJuly14,2009.2.Bills.3.CommitteeMinutes:A.Utilities,July9,2009.1.2009ChristmasDecorationInstallation&Maintenance—M.Atkins,$40,892,budgetedand2010for$42,937pending2010budgetapproval.B.PublicSafety,July16,2009:1.NorthernColoradoDrugTaskForceIGA.2.LongsPeakScottish/IrishHighlandFestivalFireworksPermitforSeptember10-12,2009.4.DedicationofUtilityEasementstoBajaBroadband.5.EstesValleyPlanningCommissionMinutesJune16,2009(acknowledgementonly).6.EstesValleyBoardofAdjustmentMinutesJune2,2009(acknowledgementonly).7.EstesParkUrbanRenewalAuthority,June24,2009(acknowledgementonly).2.PLANNINGCOMMISSIONITEMS.ItemsreviewedbyPlanningCommissionorstaffforTownBoardFinalAction.
MayorPinkham:OpenthePublicHearingforallConsentAgendaItems.IftheApplicant,PublicorTownBoardwishtospeaktoanyoftheseconsentitems,theywillbemovedtotheActionItem”Section.1.CONSENTITEMS:A.CONDOMINIUMMAP1.StoneBridgeEstatesCondominiums,PreliminaryandFinalCondominiumMap,Lot3,StoneBridgeEstatesSubdivision,1175&1177FishCreekRoad,RockCastleDevelopmentCompany/Applicant.2.TheMeadowCondominiums,PreliminaryandFinalCondominiumMap,Lot4A,Mary’sMeadowReplat,CMSPlanning&Development/Applicant.3.WonderviewVillageCondominiums,SupplementalCondominiumMap#2,131WillowstoneDrive,Unit#13,CrystalCreekDevelopment,Inc/Applicant.B.PRELIMINARYSUBDIVISIONPLAT1.PreliminarySubdivisionPlat/AmendedPlat,Lots15,16,and17,Block2,TheNeighborhood,PawneeMeadows,LLC/Applicant.3.ACTIONITEMS:*1.RESOLUTION#14-09ADOPTINGREDFLAGPOLICY.FinanceOfficerMcFarland.*2.2008COMPREHENSIVEANNUALFINANCIALREPORT(CAFR).FinanceOfficerMcFarland.*3.TOWNADMINISTRATORREPORT.*4.REQUESTTOENTEREXECUTIVESESSION:24-6-402(4)(f),C.R.S.—Fordiscussionofapersonnelmatter;notinvolvinganyspecificemployeeswhohaverequesteddiscussionofthematterinopensession;anymemberoftheTownBoard(orbody);theappointmentofanypersontofillanofficeoftheTownBoard(orbody);orpersonnelpoliciesthatdonotrequitediscussionofmatterspersonaltoparticularemployees.Motion:ImovetheTownBoardgointoExecutiveSession—Forthediscussionofapersonnelmatter;notinvolvinganyspecificemployeeswhohaverequesteddiscussionofthemailerinopensession;anymemberoftheTownBoard(orbody);theappointmentofanypersontofillanofficeoftheTownBoard(orbody);orpersonnelpoliciesthatdonotrequirediscussionofmatterspersonaltoparticularemployees.,underC.R.S.24-6-402(4)(f).5.ADJOURN.NOTE:TheTownBoardreservestherighttoconsiderotherappropriateitemsnotavailableatthetimetheagendawasprepared.
Prepared7/16/09*RevisedTOWNESTESPARIçTheMissionoftheTownofEstesParkistoplanandprovidereliable,high-valueservicesforourcitizens,visitors,andemployees.Wetakegreatprideensuringandenhancingthequalityoflifeinourcommunitybybeinggoodstewardsofpublicresourcesandnaturalsetting.BOARDOFTRUSTEES-TOWNOFESTESPARKTuesday,July28,20097:00p.m.AGENDAPLEDGEOFALLEGIANCE.(Anypersondesiringtoparticipate,pleasejointheBoardinthePledgeofAllegiance).PUBLICCOMMENT.(Pleasestateyournameandaddress).TOWNBOARDCOMMENTS.CONSENTAGENDA:1.TownBoardMeetingMinutesdatedJuly14,2009andTownBoardStudySessiondatedJuly14,2009.2.Bills.3.CommitteeMinutes:A.Utilities,July9,2009.1.2009ChristmasDecorationInstallation&Maintenance—M.Atkins,$40,892,budgetedand2010for$42,937pending2010budgetapproval.B.PublicSafety,July16,2009:1.NorthernColoradoDrugTaskForceIGA.2.LongsPeakScottish/IrishHighlandFestivalFireworksPermitforSeptember10-12,2009.4.DedicationofUtilityEasementstoBajaBroadband.5.EstesValleyPlanningCommissionMinutesJune16,2009(acknowledgementonly).6.EstesValleyBoardofAdjustmentMinutesJune2,2009(acknowledgementonly).7.EstesParkUrbanRenewalAuthority,June24,2009(acknowledgementonly).2.PLANNINGCOMMISSIONITEMS.ItemsreviewedbyPlanningCommissionorstaffforTownBoardFinalAction.
MayorPinkham:OpenthePublicHearingforallConsentAgendaItems.litheApplicant,PublicorTownBoardwishtospeaktoanyoftheseconsentitems,theywillbemovedtothe“ActionItem”Section.1.CONSENTITEMS:A.CONDOMINIUMMAP1.StoneBridgeEstatesCondominiums,PreliminaryandFinalCondominiumMap,Lot3,StoneBridgeEstatesSubdivision,1175&1177FishCreekRoad,RockCastleDevelopmentCompany/Applicant.2.TheMeadowCondominiums,PreliminaryandFinalCondominiumMap,Lot4A,Mary’sMeadowReplat,CMSPlanning&Development/Applicant.3.WonderviewVillageCondominiums,SupplementalCondominiumMap#2,131WillowstoneDrive,Unit#13,CrystalCreekDevelopment,Inc/Applicant.B.PRELIMINARYSUBDIVISIONPLAT1.PreliminarySubdivisionPlat/AmendedPlat,Lots15,16,and17,Block2,TheNeighborhood,PawneeMeadows,LLC/Applicant.3.ACTIONITEMS:1.2008COMPREHENSIVEANNUALFINANCIALREPORT(CAFR).FinanceOfficerMcFarland.2.RESOLUTION#14-09ADOPTINGREDFLAGPOLICY.FinanceOfficerMcFarland.3.REQUESTTOENTEREXECUTIVESESSION:24-6-402(4)(f),C.R.S.—Fordiscussionofapersonnelmatter;notinvolvinganyspecificemployeeswhohaverequesteddiscussionofthematterinopensession;anymemberoftheTownBoard(orbody);theappointmentofanypersontofillanofficeoftheTownBoard(orbody);orpersonnelpoliciesthatdonotrequirediscussionofmatterspersonaltoparticularemployees.Motion:ImovetheTownBoardgointoExecutiveSession—Forthediscussionofapersonnelmatter;notinvolvinganyspecificemployeeswhohaverequesteddiscussionofthematterinopensession;anymemberoftheTownBoard(orbody);theappointmentofanypersontofillanofficeoftheTownBoard(orbody);orpersonnelpoliciesthatdonotrequirediscussionofmatterspersonaltoparticularemployees.,underC.R.S.24-6-402(4)(f).4.TOWNADMINISTRATORREPORT.5.ADJOURN.NOTE:TheTownBoardreservestherighttoconsiderotherappropriateitemsnotavailableatthetimetheagendawasprepared.
JackieWilliamsonFrom:EPAdministration[ir3045@estes.org]Sent:Wednesday,July22,20094:35PMTo:JackieWilliamsonSubject:JobDoneNotice(Send)********************************JobDoneNotice(Send)JOBNO.1744ST.TIME@7/2216:19P65.6SENDDOCUMENTNAMETX/RXINCOMPLETETRANSACTIONOK6672527GregWhite5869561KEPL5869532TrailGazette5861691Channel86353677ReporterHerald2247899Coloradoan5771590EPNewsERROR1
TownBoardMeeting,July28,2009(#30)Goodevening,Experiencingtoday’sweather,onecouldexplainitbyunderstandingthatweareinasolarminimumperiod,meaningthesun’snormalcycleisatitsleastactive,andontopofthat,thisisanunusuallyinactive,inactiveperiod.Orwecouldexplainitwithanunderstandingofthejetsteam,monsoonalflows,oceantemperatures,orfluctuationsintheearth’smagneticfield.Orwecouldsayit’sallpartofGod’smagnificentplantoshowthatonlyheisinchargeoftheweatherandthattheCapandTradelegislationshouldbekilled.NobelLauriatRichardfeynmanexpressedthefollowing:Sciencedoesn’thavealltheanswersbutweeachneedtofmdoutasmuchaswecan.Natureisassheisandthemadeupstoriestoexplainwhatwedon’tknowaren’tinproportiontowhatis.Doubtisafundamentalpartofhumanexistenceandlivingwithdoubt,theuncertaintiesandtheunknown,ismuchpreferredthantohaveanswersthatmightbewrong.Iamnotfrightenedbynotknowingtheanswer,hesaid.Notknowingisbetterthanhavingananswerthatmightbewrong.GodisveryprobablythewronganswerandIdon’tthinkit’syourresponsibilitytobeperpetuatingsomethingthatmightnotbetrueandthatyoucan’tproveotherwise,andasProfessorFeynmansaid;“isn’tinproportiontowhatweknow.”Itisunconscionablethatyouarepushingthissuperstitiousdelusiononyourconstituents.SoIaskyouagaintorefrainfromrecitingthe‘underGod’pledge.AtourlastmeetingtherewasdiscussionovertheawardingofanarchitecturalcontractwithafirmfromLovelandasopposedtoanEstesParkfirm.IthoughtitironicthatallthreeprinciplesofthelocalfirmsdonotliveinEstesPark.IalsofounditinterestingthatthisboardfounditnecessarytoreducethefeesforfireservicestooutsidepropertyownerswhodonotchoosetopaytheTown’ssubscriptionfee.Wearetofeelsorryforpeoplewhodonotwanttosupportourfiredepartment,whoforgotorwerenotnotifiedofthefee,or,likemembersoftheNorthEndPropertyOwnersAssociation,arethosewhotryto‘game’thesystembyselfinsuringatalowercost.Membersofthisboardhavealsoexpressedawishforthenewfiredistricttopass;whichmakesmewonderwhoyouthinkyourconstituentsare.AftersomeanalysisofthenumbersanddemographicsitbecomesveryapparentthatmostofthesavingsofsalestaxrevenuescomingfromtheTown’sgeneralfundtothefiredepartmentwillbeoffsetbyincreasedtaxespaidbyin-townbusinessesandresidences.AsImentionedlasttime,Iwillpayover$1,200moreinpropertytaxessothatthetowngovernmentandoutoftownhomeownerswillhavemoretospend.Allofyourconstituentswillpaymoresothatotherscanpayless.
OvertheyearsprevioustownboardshavedecidedtopayforthemajorcostofgovernmentwithsalestaxesbecauseColorado’staxlawputssuchalargeburdenonommerciaiproperty.ThebusinessownersofEstesPark,yourconstituents,areworkingtheirfanniesofftryingtokeeponestepaheadoffailurewhileputtingsalestaxdollarsinthetown’sbankaccount.Thisnewfiredistricttaxmayputbothinjeopardy.Avoidingcontroversywithourout-of-townneighborsisanobleendeavor,butrollingoverforpeoplewhodonothingbutcomplainabouthowweconductourbusinesswhiletakingfulladvantageofitsbenefitsisnotbeingresponsibletoyourposition.Wegetallkindsoflipserviceastohowtheywanttobeapartofourdecisionmakingbutaskthemtoputupandallwehearareexcuses,orcriticism.Afewyearsagothetownmadeagenerousoffertoseveralpropertiestoannex,butwhatwastheresponse?Whathasbeentheresponsetothesubscriptionfeeotherthanaplantogetmetopayit?Myfinalpointonthesubjectisthis:WhatareyougoingtodoiftheFireDistrictvoteissuchthatitpasseswithlessthanamajorityvoteofin-townresidents?Itisstatisticallywithintherealmofpossibilitythatin-townvoterscouldbeagainstthedistrictwhilealargemajorityofout-of-townvoterscouldpushtheyesvotespast50%.ThisputsintoquestionalloftheintergovernmentalagreementsyouhaveenteredintosuchasturningoverallofthefireequipmentanduseofDannelsStation.InthisinstanceIwouldsaythewillofthepeopleshouldbelistenedtoandyouwouldhavenochoicebuttowithdrawallagreementsandparticipation.Theproblemis;Iassumewewillallvoteinthesameplacesoknowingwouldbedifficult.Maybeanotherlawsuitisinourfuture.Thankyou.4JDavid
JIMMcCoRMIcK825WILDLIFEEslEsPARK,COLORADO30577July28,2009EditorEstesParkNewsP.O.Box508EstesPark,Colorado80517DearEditor,ResidentialwindpowergenerationhascometotheEstesValley.Mosteveryonesupportstheuseofwindenergy.Itisagreatideaandweshouldexploitthisrenewableresourceasmuchaspossible.April30ththetownheldameetingonthesubject.Let’slookatwhatweweretoldthenandwhatwe’venowlearned.WhatWeWereTold—Theprimaryproponentofpersonalwindturbines(whobynosmallcoincidencewasalsothefellowsellingthethings)assuredusthattheturbineswouldbebrownandgreenandhardlydistinguishablefromapinetree.WhatWeHaveLearned—WiththeinstallationlastweekofthepersonalwindturbineonHighway7atCountryClubDrive,we’velearnedthatthestructuresactuallyconsistofabattleshipgreypoletoppedbywhatlookslikethegutsofaWaringblenderonsteroids.Ifyouhaven’tseenit,beprepared.It’svisiblefromoverhalfamiledownthehighwayandlookslikeagiantupside-downeggbeater.Andwatchforbrakelights—thebeasthasalreadyresultedinpeoplestoppingonthehighwaytostare.WhatWeWereTold—WeweretoldatthemeetingbytownplanningdirectorBobJosephthatthecarboninvestmentinmanufacturing,transportingandinstallingapersonalwindturbinewouldneverberecoveredduringtheentirelifeofthedevice.Translation:thedevicedoesnotmakeapositivecontributiontotheefforttoreduceglobalwarming.WhatWeHaveLearned—ThateventhougheverhomethatreceiveselectricpowerfromtheTownofEstesParkcanimmediatelysignupforwindpowergeneratedatawindfarminWyoming,someofourneighborswouldrathererectanunsightlyandnoise-producingpersonalwindturbineintheirbackyard.
EditorPage2EstesParkNewsJuly28,2009WhatWeWereTold—WeweretoldthatthecurrentthirtyfootheightlimitationonstructuresintheEstesValleyandthegustywindsweexperiencemeanapersonalwindturbinewouldneverbeveryeffective.WhatWeHaveLearned—Wehavelearnedthatalackofeffectivenessandtheabilitytoimmediatelyobtainwindenergyforyourhomefromthetowndoesnotdissuadesomeofourneighborsfromerectingavisualmonstrositywithoutanyregardfortheimpactonsurroundingresidentsorthecommunity.Thetownplanningdepartmentisinthemidstofaprocessintendedtoresultinapolicyonpersonalwindturbines.Asisthenatureofgovernment,thatprocessismovinggradually.Weneedthatprocesstoberapidlycompletedandallcometoapointofcommunityconsensusonwerepersonalwindturbinesfitinourcommunity.Whatwecannotaffordismoreinstallationsbeforethatpolicyisdeterminedandadopted.Itisnotfairtothemembersofourcommunitytohavethistemporaryloopholeexploitedwiththeinstallationofmorepersonalwindturbinesintheinterim.IencourageyoutoimplorethemembersoftheplanningcommissionandTownCounciltoenactanimmediateandtemporarymoratoriumonanymorepersonalwindturbinesuntilthecommunitycancometoconsensusonthisissue.Thealternativeistohavemoreresidentsthoughtlesslyimposetheirpreferencesontheirneighbors.Inthemeantime,enjoyyourviewandquitewhileitlasts.Yournextdoorneighbormaybethenexttoerectachurningeyesore.Respectfully,[signed]JimMcCormick
•TownofEstesPark,LarimerCounty,Colorado,July14,2009MinutesofaRegularmeetingoftheBoardofTrusteesoftheTownofEstesPark,LarimerCounty,Colorado.MeetingheldintheTownHallinsaidTownofEstesParkonthe14thdayofJuly,2009.MeetingcalledtoorderbyMayorPinkham.Present:MayorWilliamC.PinkhamMayorProTernChuckLevineTrusteesEricBlackhurstDorIaEisenlauerJohnEricsonRichardHomeierJerryMillerAlsoPresent:GregWhite,TownAttorneyJacqufeHalburnt,TownAdministratorLowellRichardson,DeputyTownAdministratorJackieWilliamson,TownClerkAbsent:NoneMayorPinkhamcalledthemeetingtoorderat7:00p.m.andalldesiringtodoso,recitedthePledgeofAllegiance.PROCLAMATIONMayorPinkhamproclaimedJuly27—August1,2009as“EstesParkRelayforLifeDays”andencouragedallcitizenstowearpurpletopromoteawarenessofcancer.PUBLICCOMMENTIreneLittle/LeagueofWomenVotersRecyclingCommitteeinformedtheBoardthatover10,000bagsweresavedinthemonthofJuneduringtherecyclebagchallenge.SheremindedtheBoardoftheLeaguesinterestinajointmeetingwiththeTownBoard,CountyCommissionersandWasteManagementtodiscussrecyclingoptionsinEstesPark,includingasaferlocationandadditionallocations.DavidHabecker/TowncitizenrequestedtheTownprovidetheregisteredelectoratewiththepropernumbersasitrelatestotheupcomingelectionsontheFireDistrictandpossiblyEPURAtofacilitateanalysisanddiscussionontheissues.Hequestionsthefairnessofincreasinghispropertytaxby$1,200ayearasanintownpropertyownerversustheoptional$130subscriptionfeecurrentlypaidbycountyresidents.HestatedthereareoutoftownpropertieswithintheLMDdistrictthatareadvertisingthetaxdifferencebetweenintownandoutoftownproperties;i.e.4%Townsalestax.HerequestedtheCVBcontactthesebusinessestostopthepractice.HealsorequestedtheTownBoardrefrainfromrecitingtheunderGod’PledgeofAllegianceatBoardmeetings.JimTawneyrrowncitizenquestionedthehiringofthenewPublicInformationOfficerpositionandtheneedtoimprovethegrandstandsduringthecurrenteconomictimes.HestatedtheLMDmarketingreportfromHannahMarketingusedverylittledatafortheassessmentcompletedandquestionedsomeofthereport.HecommentedthosecollectingtheLMDtaxdonotwanttoseethesameindividualsconductingthesameadvertisingandmarketingplan.TOWNBOARDCOMMENTS.MayorPinkhamcommendedtheRodeoCommitteeontheireffortsduringthisyear’srodeo.Healsostatedtheeventwaswellattendedandhasreceivedpositivefeedback.
BoardofTrustees—July14,2009—Page21.CONSENTAGENDA:1.TownBoardMeetingMinutesdatedJune23,2009,SpecialTownBoardMeetingMinutesdatedJune15,2009,TownBoardStudySessiondatedJune23,2009andJune30,2009.2.Bills.3.CommitteeMinutes:A.PublicSafety,June18,2009.B.CommunityDevelopment,July2,2009:1.HabitatforHumanitysidewalkimprovementwaiverforKundtzSubdivision.Cashin-lieuofconstructedimprovementsforcurbandgutter.Itwasmovedandseconded(Levine/Miller)toapprovetheconsentagenda,anditpassedunanimously.2.ACTIONITEMS:1.AWARDARCHITECTANDENGINEERINGSERVICESCONTRACTFORMULTI-PURPOSEEVENTCENTERANDINDOORARENA.Dir.ZurnstatedPublicWorkssolicitedproposalsforarchitecturalandengineeringservicesforthedesignoftheMulti-PurposeEventCenter(MPEC)andindoorarenaandtenproposalswerereceived.The‘Stakeholder”groupratedtheproposalsonresponsiveness,responsibility,teammembers,costs,theoverallproposalandtimelineforcompletion.ThetopfivewereinvitedtopresenttheirproposaltothegrouponJuly10,2009:FirmName.•BidAmountLeoA.Daly,Denver$493,516*TWBeckArchitects,PC,EstesPark$235,749*KennyAssociates,Inc.,Loveland$255,400*McMenaminDesignAssoc.ArchitectureandPlanning,Louisville$298,280*EstesArchitectsCollaborativeJointVenture,EstesPark$435,622**excludessomeservices,finalfeetobenegotiatedThe“Stakeholders”groupunanimouslyrecommendedKennyAssociates,Inc.TrusteeEisenlauer,amemberofthegroup,statedtherationaleforthedecisionincludedKenneyAssociatesexperience,education,equestrianknowledge,multi-useeventcenterexperience(TheRanchinLoveland)andsuggestedcostsavingmeasuresnotconsideredbyothers.Thegrouptookintoconsiderationthelocalpreferenceandstatedthelocalcontractorswouldhavetheopportunitytobidontheconstructionofthebuilding.TrusteeEricsonconcurredandreiteratedthequalificationsofKennyAssociatesandtheirenthusiasmfortheproject.DirectorZurnstatedthecostestimatefromKennyAssociatesdoesnotincludecivilsitework.KennyAssociateshasaddedVanHornEngineeringasaconsultanttocompletetheworkatanestimatedcostof$15,500.Thetimeframefortheprojectisdependentonfinalizingprogramming,budgetallocationand/orfinancingifrequired.Theprojectcouldbeginasearlyasthisfallwithbuildingsunderconstructionthiswinter.
BoardofTrustees—July14,2009—Page3TrusteeBlackhurstexpressedhisdisappointmentwiththeselectionofanonlocalfirm.Hestatedtheprojectcouldbecompletedbythelocalcommunityandthatavastnumberofdollarswouldleavethecommunityonthisproject.Afterfurtherdiscussion,itwasmovedandseconded(Miller/Eisenlauer)toawardthearchitectandengineeringservicecontractfortheMultiPurposeEventCenter(MPEC)andindoorarenaattheStanleyFairgroundstoKenneyAssociates,Inc.atacostof$270,900witha10%contingencyfrom#204-5400-544-22-02,anditpassedwithTrusteeBlackhurstvotingNo.2.FIRESERVICESFEESCHEDULE.ChiefDormanstatedthePublicSafetyCommitteereviewedthenewfeestructureforfireserviceattheirJunemeeting.TherecommendationwasbasedonacostperhourfortheapparatususingtheColoradoStateForestServiceFeeScheduleandincludesthepersonnelcostassociatedwiththeapparatus.ThepersonnelcostsarebasedontheactualcoststheTownpayspervolunteerforworkscompensation,trainingandpensioncontributions.TheCommitteerecommendedaminimumcharge($300-$500)beassessedforanybillableincidentinordertocreateanincentivetopaytheoptional$130subscriptionfee.TheCommitteealsodiscussedapplyingthenewfeescheduleretroactivetobillsalreadyassessed.TheinformationwaspresentedtotheVolunteerFireDepartmentatarecentmeetingfortheirinput.TheVolunteersagreedwiththeproposedcharges,theminimumchargeandtheneedtoapplythefeescheduleretroactively,excludingtheoneincidentthathasbeenpaidandwouldbehigherunderthenewfeeschedule.Theyexpressedconcernontheproposedminimumamountandsuggesteda$250minimum.DiscussionwasheardfromtheBoard:theproposedscheduleissimpleandfair:the$38/hrforvolunteertimeshouldnotbeadjustedeachyear:therefundedchargeswerenotbudgetedrevenuesandwouldnotaffecttheFireDepartmentbudget.Afterfurtherdiscussion,itwasmovedandseconded(Eisenlauer/Levine)to1)adoptthenewfireservicesfeescheduleaspresented;2)servicetimetobechargedonatwotenthsofanhour;3)$250minimumchargeforservicewiththeoneacceptationasmentionedabove;and4)allpreviousbillingstoberecalculatedwiththenewfeeschedule,anditpassedunanimously.3.AGREEMENTBETWEENTHETOWNOFESTESPARKANDESTESPARKURBANRENEWALAUTHORITYFORTHEGRANDSTANDCONSTRUCTION.AttorneyWhitestatedhepreparedtheagreementtoaddressthecooperationbetweentheTownandEPURAandtoapproveanyEPURAprojectover$100000.TheagreementwasreviewedbyEPURAattorneyandEPURApriortorecentdiscussionsbetweentheGrandstandCommittee,andtherefore,theagreementpresentedisnotinfinalformandcouldbeamendedtoincludethescopeoftheprojectasanexhibit.TheTownBoardandstafftouredthecurrentgrandstandstoassessthescopeandtodetermineifupgradescouldbecompletedinlieuofbuildinganewfacility.Afterreviewitwasdetermineanewfacilitywasneeded.AsmallcommitteewasformedincludingtwoEPURACommissionersandtwoTrusteestoworkwithstaffandThorpAssociatesondevelopingafunctionalyetcosteffectivegrandstanddesign.
rBoardofTrustees—July14,2009—Page4CommitteemembersMillerandEisenlauerrequestedtheBoardprovidethemwiththeauthoritytobringforwardadesignandcostestimateforthefullBoardtoconsiderinAugust.TrusteeMillerstatedthegrandstandshavebeenrevisedincludingtheconcessionstandandthenumberofseatsandrestrooms.Hestatedthecommitteeisworkingonalistofaddalternatesfortheproject.Afterdiscussion,theBoardprovidedthecommitteememberstheauthoritytoworkwiththeEPURAcommitteememberstoreachconsensus.TrusteeBlackhurstexpressedconcernonwheretheextrafundingmaycomefrom.AdministratorHalburntstatedthefundingwouldcomefromtheCommunityReinvestmentfund.4.CONVENTIONANDVISITORSBUREAUPERSONNELTRANSITIONTOLOCALMARKETINGDISTRICT.TrusteeBlackhurstrecusedhimselffromthediscussionandtookaseatintheaudience.AdministratorHalburntstatedtheTownBoardandtheLMDheldajointmeetingonJune30,2009todiscussthetransitionofselectConventionandVisitorsBureau(CVB)personneltotheLMD.StaffrequestsdirectionfromtheBoardatapolicylevelonhowtheCVBstaffwouldtransferasitrelatestomanagement.AnIGAcouldbeapprovedtoallowtheCVBstafftoremainTownemployeeswiththeircurrentbenefitswhiletheLMDoverseesthepositionsasitrelatestomanagement.TrusteeHomeierstatedtheCVBgrouphasbeensuccessfulandshouldnotbeseparated.TheLMDshouldhiretheCVBstafftoimplementtheiradvertisingandmarketingplan.ManagementofstaffshouldremainwiththeTownforthefirstyearoftransitionanddiscussoptionsnextyear.TheconsensusoftheBoardwastoallowthefourmembersoftheCVBstaff(advertisement,publicrelations,groupsalesandstakeholderservices)tobemanagedbytheLMDthroughanIGAwiththeTowntoensurecurrentbenefits.TheTownwouldalsorequestaguaranteeofoneyearemploymentwiththeLMDunlessaTownpolicywasviolated.TheBoardexpressedconcernwiththeoneyearguarantee.AttorneyWhitestatedthestatestatuterequirestheTownBoardandtheCountyCommissionersapproveanoperatingplanyearly;therefore,anIGAcouldalsoberenewedannually.ThesameprotectionintheTown’semployeemanualwouldfollowthecurrentCVBemployeesandthemanagementoftheemployeeswouldbeoutlinedintheIGA.Afterfurtherdiscussion,itwasmovedandseconded(Levine/Eisenlauer)toallowthefourCVBemployeesperformingadvertising,publicrelations,groupsalesandstakeholderservicestobemanagedbytheLMDthroughanIntergovernmentalAgreementthatwouldincludetheTownemployeemanualasanexhibitandaguaranteeofoneyearemployment,anditpassedwithTrusteeHomeiervoting“No”andTrusteeBlackhurstrecusinghimself.5.TOWNADMINISTRATORREPORT.•TheFireServicesInitiativeCommitteehasawebsiteatwww.evfireservice.orgforthosethatwouldliketofindoutmoreinformationontheproposedfiredistrict.WhereuponMayorPinkhamadjournedthemeetingat8:58p.m.WilliamPinkham,MayorJackieWilliamson,TownClerk
RECORDOFPROCEEDINGSTownofEstesPark,LarimerCounty,Colorado,July14,2009MinutesofaJointStudySessionmeetingoftheTOWNBOARDANDESTESVALLEYPLANNINGCOMMISSIONoftheTownofEstesPark,LarimerCounty,Colorado.MeetingheldatTownHallinRooms202&203insaidTownofEstesParkonthe14thdayofJuly,2009.Board:MayorPinkham,TrusteesBlackhurst,Eisenlauer,Ericson,Levine,HomeierandMillerCommissionCommissionersFraundorf,Hull,Klink,Lane,Norris,PoggenpohlandTuckerAlsoAttending:TownAdministratorHalburnt,DeputyTownAdministratorRichardson,TownAttorneyWhite,TownClerkWilliamson,DirectorJosephandPlannersShirkandChilcottAbsent:CommissionerLaneMayorPinkhamcalledthemeetingtoorderat5:05p.m.CODECHANGEPROCESSANDPROBLEMSTATEMENT.PlanningCommissionerNorrisstatedthemeetingwoulddefinehowtheTrustees,Commissionersandstaffwouldworktogethertodefinefor,andimplement,futurechangestotheEstesValleyDevelopmentCode,andmorespecifically,tocometoagreementontheworkprocessandtheproblemstatementtemplatetobeusedintheprocess.Thefollowingprocesswasproposed:•AperceivedneedarisesandbroughttotheattentionoftheTrusteesorCountyCommissioners.•Theelectedofficialsmakeadecisionifacodechangeisneededorotheractionisrequired.•Ifacodechangeisneeded,developandagreewithawrittenproblemstatementthatissenttotheEVPCdefiningthepolicyissuebeingaddressed,theproblemtobesolved,andtheboundariesorconstraints.•EVPCwouldreviewtheproblemstatementandidentifyquestionsorissuesthatneedfurtherdiscussionorclarification,developinitialthoughts,andsendarevisedproblemstatementandquestionstotheelectedofficials.•ElectedofficialstoreviewEVPCinputandreachfinalagreementontheproblemtobesolved.ComplexissuesmayneedtobediscussedwithjointstudysessionswiththeelectedofficialsandtheEVPC.•EVPCwouldprovidestaffwithfinalproblemstatementandspecificguidelinestobeaddressedinthedraftchanges.•DraftchangestobereviewedbyEVPC.•EVPCwouldholdpublichearingandmakefinalrecommendationstotheelectedofficialsforfinaldecision.Discussionfollowedontheproposedprocess:theprocessisonewayandshouldbeatwowayprocess;theEVPCshouldalsoidentifyissuesthatshouldbebroughtforwardtotheelectedofficials;anyindividualorgroupshouldhavetheabilitytowriteaproblemstatementtobringforwardtostaff,EVPC,oranelectedofficial;amoreinformalprocessshouldbeusedatthebeginningtoidentifytheproblemandthescope;theprocesswouldhelpthepublicunderstandwhythecodechangesarebeingconsidered;questionedwherethebulkoftheconcernscomefrominitially;questionediftheprocesswouldworkforlargerissues;andtheproblemstatementprovidesboundariesontheissue.
RECORDOFPROCEEDINGSTownBoardStudySession—July14,2009—Page2Changestobemadetotheprocessinclude:clarifyingtheinitiatorcouldbeanyonethatperceivesaneedforacodechangeandwouldwriteaproblemstatementtobereviewedbytheCommunityDevelopmentCommitteeforconsiderationandrecommendationtotheTownBoard;electedofficialstoclarifyandrevisetheinitialproblemstatementbeforesendingontotheEVPC;stepsfourandfiveshouldbeiterativeandallowallpartiesthechancetodiscussandidentifyconcernsincludingstaff;andtimeframesplacedonthedifferentstepsoftheprocess.DirectorJosephstatedplanningstaffbecomesaconduitforcodechangesthroughissuesthatdevelopduringthereviewofdevelopmentapplications.AnissuemustpresentsomeweightormagnitudebeforeitwouldbebroughtforwardtotheEVPCortheelectedofficials.CommissionerNorriswouldmakethechangesdiscussedandforwardarevisedprocessforreviewandcommentbybothboards.TrusteeBlackhurstrequestedtheprocessbereviewedinSeptemberof2010toassesswhetherithasbeenproductive.Thetemplatefortheproblemstatementwasreviewedanddiscussedwiththefollowingcomments:theheadingsToandFromshouldbeleftblank;theconstraintsshouldberemovedfromthescopeandplacedinaseparatelineitem;addprioritiesandboundaries;andtheheadingPolicyIssueshouldbechangedtoIssue.VACATIONHOMESANDBED&BREAKFASTCODEAMENDMENT—PROBLEMSTATEMENT.TrusteeBlackhurststatedtherecommendedcodechangesdonotaddresstheissuesraisedbytheTownBoardandcontainchangesthatcannotbeenforced.TheTownBoardrequestedtheEVPCdevelopdefinitionsforsmallhotel,bedandbreakfastandvacationhomes.Heexpressedconcernwiththenumberofunlicensedvacationhomesandhowtodealwiththeissue.AttorneyWhitestatedvacationhomeusesareaddressedthroughtheMunicipalCodeanddonotregulatethehomesinthecounty.TherecommendedcodechangeswouldbringtheregulationundertheEVDCinordertoenforcethemthroughouttheplanningarea.DirectorJosephaddedtheMunicipalCodedoesnotaddresswhetherornotavacationhomeisaprincipleuseinresidentialareas.TheTownBoardtabledtherecommendedchangesbytheEVPConvacationhomesbecauseofthenewprocess.Anewproblemstatementshouldbedevelopedandreviewedpriortomovingforwardwithanynewcodechangesforvacationhomes.WILDLIFECODECHANGE.DirectorJosephstatedtheEVPCapprovedrecommendedchangestothewildlifecodeandquestionedwhetherornottomoveforwardtotheTownBoard.ItwasagreedthechangeshouldmoveforwardfortheTownBoardsconsideration.Therebeingnofurtherbusiness,MayorPinkhamadjournedthemeetingat6:42p.m.JackieWilliamson,TownClerk
bRECORDOFPROCEEDINGSTownofEstesPark,LarimerCounty,Colorado,July9,2009.MinutesofaregularmeetingoftheUTILITIESCOMMITTEEoftheTownofEstesPark,LarimetCounty,Colorado.MeetingheldintheTownHallinsaidTownofEstesParkonthe9thdayofJuly,2009.Committee:ChairmanHomeier,TrusteesBlackhurstandEricsonAttending:AllAlsoAttending:TownAdministratorHalburnt,DeputyTownAdministratorRichardson,UtilitiesDir.Goehring,Asst.UtilitiesDir.Mangelsen,RecordingSecretaryPetrieAbsent:NoneChairmanHomeiercalledthemeetingtoorderat8:00am.PUBLICCOMMENT.None.LIGHT&POWERDEPARTMENTChristmasDisplayInstallationandMaintenancefor2009&2010—RequestApprovaltoAcceptProposalLightandPowerbudgeted$58,500/yearfortheannualinstallationandmaintenanceoftheChristmaslightsanddisplays.Thelowbidfor2009isareductionof$3,108fromlastyear’scontractamountof$44,000.p’20092010BudgetT.A.Enterprises$42,000$44,000$58,500M.Atkins,Inc$40,892$42,937Lastyeenergyefficientstringlights(LED)wereplacedinthetreesofRamsIslandasatestpilotareaforleavingthelightsonthroughouttheyear.Dir.Goehringstatedthatthelongerthelightstringsareleftonthetreesthemoredamagetheycauseduetohighwinterwindscreatingstressonthebranches.Installationofthelightstrings,rebartress,anddisplayswillbeginOctober15thandwillbecompletedbyNovember25th.RemovaldatesarebyJanuary15th,2010forthedisplaysandrebartrees,andbyFebruary25th,2010forthestringedlights.StaffrecommendscontractingwithM.Atkins,Inc.TheTownhasworkedsuccessfullywiththiscontractoronpastlighting.TheCommitteerecommendscontractingwithM.Atkins,Inc.fortheinstallationandmaintenanceoftheChristmasdisplayfor$40,892/2009asbudgetedand$42,93712010pendingbudgetapprovalandcontractorperformancefrom#502-6501-560-26-15.ChairmanHomeierleftthemeetingatapproximately8:15a.m.LIGHTANDPOWERREPORTS.1.HistoryofTownofEstesParkUtilitiesRateIncreases—Dir.Goehringstatedthatfrom1994to2000therewasnoincreaseinresidentialelectricratesinEstesPark.Ratesincreasedmodestlyfrom2000tothepresent,witha2.5%peryearincreaseanticipatedfrom2010to2013.Waterrateshavesteadilyincreasedsince1994,withdramaticincreasesinthelastfewyearsduetoasubstantialriseincostsforwatertreatmentchemicalsandsupplies.Waterrateincreaseshave
RECORDOFPROCEEDINGSUtilitiesCommittee—May14,2009-Page2increasedwateraccountabilityby15%(from72%to87%),andhaveprovidedfundingforthefollowingWaterDepartmentprojectssince1994:-Mary’sLakeWaterTreatmentPlant,initialconstructionandrecentupgrades-ThreesubstantialGlacierCreekWaterTreatmentPlantimprovements-AdditionofonerawwaterpumpstationtoMary’sLakeTreatmentPlant-Installationofone300,000gallonstoragetank-Installationofone1milliongallonstoragetank-Replacementof20milesofgalvanizedsteelpipewithductileironpipe-Installationof346newfirehydrants2.SolarRebateProgramFinalReport—Asst.UtilitiesDirectorMangelsenstatedthatinNovember2008,theStateofColoradoawardedtheTown$25,000inmatchingfundstoparticipateintheGovernor’sEnergyOfficerebateprogramtoinstallphotovoltaic(PV)generationsystemsonprivateresidencesinEstesPark.Thirtylotterysubmissionswerereceivedfrominterestedparties,andinFebruary2009fivepeoplewereselectedtoreceivefullrebateawardsofupto$9,000each.AsofJune30th2009rebatecheckshadbeenissuedtoallfivefinalparticipants,andtheUtilityDepartmenthadreceivedmatchingfundsof$250inadministrationcostsand$4,500foroneinstallation.AfinalrequestforpaymentfromtheGEOwassubmittedonJune29thintheamountof$18,620forthefourremaininginstallationsandthebalanceoftheadministrativecostsallowedundertheprogram.3.DistributionSystemImprovementsReport—Light&PowerhascompletedtheMary’sLakeSubstationupgrades,whichwasphaseoneofthedistributionsystemimprovements.Approximately$1.75millionofthe$6,180,000inbondmoneyremainsinaccount#502-7001-580.33-30forthesecondphaseofimprovements:upgradingtheSubstation’sBeaverPoint,Peakview,andFishCreekfeedertiecircuits.ThiswouldallowtheentiresystemtobefedfromeithertheEstesSubstationortheMary’sLakeSubstationintheeventofasubstationfailureorforsubstationmaintenance.WATERREPORTS.1.UpdateonMary’sLakeWaterTreatmentPlant—SuperintendentBolesprovidedanupdateonthestatusoftheMary’sLakeWaterTreatmentPlantexpansion.Thetemporarywatertreatmentunitsarescheduledtoberemovedafterthepeakwaterusagetime,whichhistoricallyisaroundJuly4thTheoverallprojectis70%completeandconstructionisapproximately90%complete.ThefiltermembranesarescheduledtoarriveJuly20thandthecommissioningscheduletargetsproductionofwaterinmid-September.WaterDepartmentstaffwillreceive2weeksofclassroomandoperationaltrainingonthenewsystem.Therebeingnofurtherbusiness,TrusteeBlackhurstadjournedthemeetingat8:47a.m.SandraJ.Petrie,RecordingSecretary
RECORDOFPROCEEDINGSTownofEstesPark,LarimerCounty,Colorado,July16,2009MinutesofaRegularmeetingofthePUBLICSAFETYCOMMITTEEoftheTownofEstesPark,LarimerCounty,Colorado.MeetingheldintheTownHallinsaidTownofEstesParkonthe16thdayofJuly,2009.Committee:ChairEisenlauer,TrusteesHomeierandEricsonAttending:TrusteesHomelerandEncsonAlsoAttending:DeputyTownAdministratorRichardson,ChiefKufeld,ChiefDormanandClerkWilliamsonAbsent:ChairEisenlauerandTownAdministratorHalburntTrusteeHomeiercalledthemeetingtoorderat8:00am.PUBLICCOMMENTJimAustin/EstesValleyFireServicesInitiativeCommitteememberstatedthecommitteechairedbyTomAndersonfiledthepetitiononJuly7,2009with226validsignatures.TheDistrictcourthearinghasbeensetforJuly22,2009.Thecommitteewouldusethenextthreemonthstocampaignfortheissue.Abrochurehasbeenproducedtoinformtheelectorateontheissue.POLICEDEPARTMENTNorthernColoradoDrugTaskForceIntergomentalAgreement.TheTownhashadanIGAwiththetaskforceinthepast,includinglastyear.ThePoliceDepartmentrequestsapprovaltopartnerwiththeNorthernColoradoDrugTaskForceasaparticipatingagencytoreceiveassistanceinnarcoticsinvestigations,accesstoinvestigativetechnologyandtheabilitytoaccesstheTaskForcecriminalintelligencesystem.Thedepartmentdoesnothaveanofficerassignedtothetaskforceatthistime;however,wouldprovideinvestigativecooperation,enforcementassistance,intelligenceandinformationsharingandanyothersupportrequested.Afterfurtherdiscussion,theCommitteerecommendsapprovaloftheIntergovernmentalAgreementwiththeNorthernColoradoDrugTaskForceasaparticipatingmember.REPORTS.1.EstesValleyVictimAdvocates6MonthReport.DirectorMesropianupdatedtheCommitteeonthecurrentstatusoftheprogram.EVVAcontinuestoprovidevictimadvocacyserviceswithhighlytrainedvolunteeradvocatesdeliveringqualitycare,informationandreferralstovictimsandsupportiveservices.Otheractivitiesincludeeducationwithinthecommunityandinourschoolsontheissuesofdomesticviolence,sexualassaultanddaterapeastoppriorities.EVVAcontinuestomakeimprovementstothesafehousesuchasADAupgradesandseekingadditionalfundingsourcesforimprovementstothehouse.2.NeighborhoodPortfolioExercisebyHeatherClark.DispatcherClarkstatedasurveywasconductedonaselectpopulationtobetterunderstandthemisconceptionsindividualshavewhenusing911.Thesurveydeterminedmostusershaveonlyutilized911lessthan4timesandwhentheydotheyexpectthedispatchertojustsendhelpand/orprovideinformation.Thosesurveyedalsostatedtheywouldbeinterestedinreceivingmorepubliceducationon911,whichcouldbefacilitatedbyLETA,TownBugle,localnewspapers,safetyfairandEPTV.
RECORDOFPROCEEDINGSPublicSafetyCommittee—July16,2009—Page2FIREDEPARTMENTFireworksPermitforLongsPeakScoftishllrishHighlandFestivalandStonebrakerDuringthefestivalapublicfireworksdisplayisheldattheTattoo.MunicipalCodeSection9.10.030requiresanapplicationforafireworkspermittobefiledwiththeTownClerk,reviewedandapprovedbytheFireChiefandissuanceofapermitbytheTownBoard.TheapplicantJamesDurwardhasrequestedapermitforSeptember10,11and12,2009betweenthehoursof8:30am.to10:00p.m.TheapplicantwouldprovidetherequiredproofofliabilityinsuranceinAugust.TheoperatorsarelicensedbytheColoradoDepartmentofPublicSafetyandthesupplierhasavalidexplosiveslicense/permitissuedbytheDepartmentofTreasury,ATF.TheLakeEstesTrailwouldbeclosedafterthemortarsareloadedandduringthedisplaytomaintainsafety.TheEstesParkVolunteerFireDepartmentwouldhaveafireengineandcrewonsceneduringthedisplay.TheCommitteerecommendsapprovaloftheLongsPeakScoftishllrishHighlandFestivalfireworkspermitforSeptember10,iiand12,2009.REPORTS1.UpdateonPreplanningofBuildingsforEmergencyResponse:CaptainRosenquiststatedapartofhisjobistoperformpreplans.Thepreplanprovidesthefirefighterswithaplanataparticularlocationinthecaseofanincident.PreplanshavebeencompletedforAceHardware,Big0Tires,RoadwayInnandLakeEstesInnandSuites.Thedepartmentwouldcontinuetofocusonpreplansforaccommodationestablishments.2.NewFireEngine:ChiefDormanpresentedtheCommitteewiththenewfireengine.Therebeingnofurtherbusiness,Trusteieradjournedthemeetingat9:10am.JackieWilliamson,TownClerk
TOWNBOARDMEETINGJuly28,2009ConsentItem#4.DedicationofUtilityEasementstoBajaBroadband.ThisitemwasreviewedattheUtilitymeetingonThursday,July23,2009.TheCommitteerecommendedtheeasementbemodifiedtoincludeonlytheDairyQueenloteasementatthistime.TheBondParkeasementwasheldpendingoutcomeoftheBondParkMasterPlan.
GRANTOFEASEMENTThisGrantofEasement(this“Agreement”)ismadeasofthis______dayofJune,2009byandbetweenTheTownofEstesPark,havinganaddressofpoBox1200,EstesPark,CO80517(hereinafterreferredtoas“Grantor”),andBajaBroadbandOperatingCompany,LLC(hereinafterreferredtoas“Grantee”)withitscorporateofficeslocatedat1061521CorporateCenterDr.,FtMill,SC29707.Forgoodandvaluableconsideration,thepriorreceiptandsufficiencyofwhichisherebyacknowledged,GrantorherebygrantsuntosaidGrantee,itssuccessorsandassigns,apermanentundergroundutilityeasement,togetherwithperpetualrightstoenteroverandupontheeasementareashereinafterdescribed(byvehicularorpedestrianaccess),atanytimethatGranteemayseefit,tooperate,maintainandreplaceGrantee’sfiberopticutilityline,withallfixturesanddevicesusedorusefulintheoperationofsaidfiberopticutilityline,throughandalongacourseassaidfiberopticutilitylinehasbeenconstructed,locatedintheTownofEstesPark,CountyofLarimer,StateofColorado,asdescribedinthefollowing:A15’accessandutilityeasement7.5’oneachsideofthecenterlineofanexistingfiberopticutilityline,onoverandacrosslot12,block4secondamendedplattotheTownofEstesParkSubdivision,locatedintheNE34ofSection25,Township5North,Range73Westofthe6thP.M.,CountyofLarimer,StateofColorado;MoreparticularlydescribedonExhibitAUtilityEasement.A‘cessandutilityeasement7.5’oneachsideofthecenterlineistingfiberopticutilityline,onondParkasde.nthesecondamendedplattotheTownofEstesParkSubdivi,einwnship5North,Range73e6P.M.,CountyofLarimer,StateofColorado;MorepartiescribedonExhibitBUtilityEasement.Indemnification.GranteeshallindemnifyandholdGrantorharmlessfromandagainstanyloss,liability,damage,orinjury,includingattorney’sfees,causedby,oronbehalfof,orthroughthefaultofGranteeorinanywayresultingfromGrantee’spresenceuponand/oruseoftheeasementareas.Restoration.Uponcompletionoftheconstructionandinstallationofanylines,fixturesordeviceswithinsaideasementoranyrepairormaintenanceworkbyGranteewithintheeasement,GranteeshallrestorethepropertytoessentiallythesameconditionasexistedpriortosuchworkatGrantee’ssolecostandexpenseincluding,butnotlimitedtO,pavingandlandscaping.Grantor’sUseofEasement.Grantorreservestherighttouseandenjoythepropertiessolongassuchuseandenjoymentdoesnotunreasonablyinterferewiththerightshereingrantedto0
theGrantee.Exceptforallstructuresincludingsheds,parkbenches,paving,andlandscapingcurrentlyexistingontheeasementpremisesatthedateofexecutionofthisgrantofeasement,Grantorspecificallyagreesnottobuild,create,orconstructanynewobstructionsorstructuresoverorwithinsaideasementwithoutthewrittenconsentoftheGrantee.Relocation.Granteeagreesatitssolecostandexpensetorelocateitsfiberopticutilitylines,fixturesanddeviceslocatedwithintheeasementtoanewlocationuponthewrittenrequestofGrantor.Grantorshallgrantanothereasementsimilartotheeasementgrantedhereinwithinareasonableproximityofthiseasementforsaidrelocation.Notices.AnynoticegivenundertheprovisionsofthisAgreementshallbegoodifdepositedinaUnitedStatesPostalServiceaddressedtoGrantororGranteeattheaddressesstatedabove.AffectofEasement.ThisAgreementissuperiorandparamounttotherightsofthepartiesheretointherespectiveservientestatessocreated;subjecttotheprovisionsofthisAgreement.BindingEffect.ThisAgreementshallrunwiththelandandshallbebindinguponandinuretothebenefitofthepartieshereto,theirsuccessorsandassigns.Amendment.GrantorandGranteemaymodify,amend,waiveorterminatethisAgreement,inwholeorinpart,atanytimeandfromtimetotime,byafurtherwritteninstrumentexecutedbybothofthemortheirrespectivesuccessorsandassigns.CompleteAgreement.ThisAgreementconsistsofalltheagreements,understandings,andpromisesbetweenthepartieswithrespecttothesubjectmatterofthisAgreement,andtherearenoagreements,understandingsorpromisesbetweenthepartiesotherthanthosesetforthinthisAgreement.ThepartiesheretohaveexecutedthisAgreementasofthedatefirstabovewritten.OWNER:BajaBroadbandOperatingCompany,LLCTownofEstesParkBy:___________________________By:____________________________BillPinkham,MayorDavidJohnson,GealManager
StateofColoradoCountyofLatimer)ssTheforegoinginstrumentwasacknowledgedbeforemethis________dayof2009,byBillPinkham,MayoroftheTownofEstesPark.Witnessmyhandandofficialseal.MyCommissionexpires:_______NotaryPublicStateofCCOI-I%))ssCountyofL’7424O)Theforegoinginstrumentwasacknowledgedbeforemethis/dayofcLt[2009,byDavidJohnson,GeneralManagerofBajaBroadbandOperatingCompany,LLC,A]DelawareLimitedLiabilityCompany.Witnessmyhandandofficialseal.MyCommissionexpires:NotaryPublic0///
EXHIBITAUTILITYEASEMENTACROSSLOT12,BLOCK4OFTHESECONDAMENDEDPLATTOTHETOWNOFESIESPARKSUBDIVISION,TOWNOFESTESPARK,COLORADOU—CAP#6499BLOCK5LiEASEMENTLINELENGTH77.25162.5514.45L2L3SEARINGN7230’OO”ESi7’32’40”ES4952’29”ELEGEND00.00MEASUREDDIMENSIONS(00.00)PLAUEDDIMENSIONS—‘—‘—BMAFIBEROPTICUNEIMENTATIONANDflBEROPTICU11UTYANDACROSSLOT12.BLOCK4SECONDAMENDEDPLATTOTHETOWNOFESTESPARKSUBDIVISION.LOCATEDINTHENE)OF25,TOWNSHIP5NORTh,RANGE73WESTOFThE6THP.M..COUNTh’OFLARIMER,STATEOFCOLORADO;MOREPAR11CULARLEDASFOLLOWS;CONSIDERINGAPORTIONOFTHENORTHERLYLINEOFBLOCK5TOBEARN72’30’O0”EALONGAUNE9.44’INLENGTHMOREORLESS.BEINGMONUMENTEDONTHEWESTENDBYA1BRASSCAPSTAMPEDLS6499ANDONTHEBYAN1)“ALUMINUMCAPSTAMPEDLS9485(NECORNEROFBLOCK5)WiTHALLBEARINGSCONTAINEDHEREINRELATIVEO;COMMENCINGATTHEALUMINUMCAPATSAIDNECORNEROFBLOCK5THENCEN723O’OO’EADISTANCEOF77.25’THEPROJECTEDNORTHERNBLOCKUNETOThECEN7ERUNEANDTRUEPOINTOFBEGINNINGOFSAIDEASEMENT;ThENCE‘ARliNGSAIDNORTHERNBOUNDARYANDALONGTHEEXISTINGFiBEROPTICUTILITYUNETHEFOLLOWING2COURSES:S17’32’40”DISTANCEOF162.55’,THENCES4952’29EADISTANCEOF14.45’MOREORLESSTOTHEENDOFSAIDEASEMENTANDTHEEASTEOFTHESAIDLOT12.SAIDEASEMENTCONTAINS2,655S.F.MOREORLESS.SIDEUNESOFSAIDEASEMENTARETOBEEXTENCSHORTENEDSOASTOBEGINATTHENORTHERLYBOUNDARYANDTOTERMINATEATTHEEASTERNBOUNDARYOFSAIDPARCEL,SUBJECTTOALLEASEMENTSANDRIGHTSOFWAYOFRECORD,LARIMERCOUNTY,COLORADO.0UNE•TABLENSCALE30’0
RECORDOF[RUCEEDiNGSReuIarMeetingoftheEstesValleyPlanningCommissionJune16,2009,1:30p.m.BoardRoom,EstesParkTownHallCommission:ChairDougKInk;CommissionersAlanFraundoil,JohnTucker,BettyHull,SteveLane,RonNorris,andRexPoggenpohlAttending:ChairDougKlink,CommissionersAlanFraundorf,JohnTucker,BettyHull,SteveLane,RonNorris,andRexPoggenpohlAlsoAttending:DirectorJoseph,TownAttorneyWhite,PlannerShirk,PlannerChilcott,TownBoardLiaisonHomeier,andRecordingSecretaryThompsonAbsent:Thefollowingminutesreflecttheorderoftheagendaandnotnecessarilythechronologicalsequence.ChairKlinkcalledthemeetingtoorderat7:30p.m.ChairKlinkintroducednewCommissionerRexPoggenpohl,whoisrepresentingLarimerCountyandreplacingWendellAmos.1.PUBLICCOMMENTPaulNewendorp/SustainableMountainLivingGroupextendedaninvitationtoallcommunityorganizationstoameetingonThursday,June18thatTownHall.ThemeetingwillincludediscussiontoproposeatransitioninitiativeforthefutureoftheEstesValleyanditsabilitytobecomeasustainablecommunitywithin20years.FredMares/TownResidentsuggestedonlinepostingoftheagendasanddocumentationforpublicmeetingssevendayspriortothemeetingdate.Ifchangesaremade,pleasepostarevisiondate.DirectorJosephnotedmorepeopleareusingthewebsite,andStaffwillkeeptheinformationascurrentandaccurateaspossible.2.STAFFREPORTPlannerShirknotifiedthePlanningCommissionersthattheMary’sMeadowDevelopmentPlan06-01B,TheMeadowReplat,andthePreliminaryCondominiumMaphasbeenwithdrawnbytheapplicants,JimTawneyandFrankTheiss.3.MEETINGCHANGEANDBYLAWAMENDMENTThePlanningCommissionmeetingtimeisestablishedinthebylawsandPlanningCommissionersdiscussedrevisingthebylawstochangethemeetingtimefrom1:30p.m.to6:00p.m.,withstudysessionbeginningapproximatelytwohourspriortothemeetingdependingontheagendacontent.CommissionerKlinkstatedthetimechangewouldhopefullyresultinbetterattendanceandmorepubliccomment.Thisproposedchangecouldoccuronatrialbasisandberevisitedinthefuturebasedonpublicinputandlogistics.ThebylawsincludeaprovisionrequiringthatnoticeofproposedamendmentstothebylawsbegiventoeachPlanningCommissionmemberinwritingatleastsevendayspriortothemeeting.TownAttorneyWhiteadvisedthatthePlanningCommissioncouldwaivethisrequirementifallmembersagreedtothewaiver.Itwasmovedandseconded(KlinklHull)towaiveprovisioninthebylawsrequiringthatnoticeofproposedamendmentstothebylawsbegiventoeachPlanningCommissionmemberinwritingatleastsevendayspriortothemeeting.Themotionpassedunanimously.
R’CORDCFPROCEEDINGSEstesValleyPlanningCornriissior2June76,20090Itwasmovedandseondad(Klinkllucker)toamendthebylawstoread:“...withthetimesetbyanadoptedmotionoftheCommission,”tostartstudysessionspriortothemeeting,withtheexacttimedependingonagendacontent,andtostartPlanningCommissionmeetingsat6:00p.m.,beginningwiththeJuly21,2009meeting.Themotionpassedunanimously.3.CONSENTAGENDAEstesValleyPlanningCommissionminutesdatedMay19,2009BLUESPRUCESUBDIVISION—Lot1,BIueSpruceSubdivisionandaportionofLot10,Greeley-BoulderColony,locatedat2250Highway66.Thisisarequesttoadjusttheinternallotlinebetweentwolotsoriginallycreatedin1978.Itwasmovedandseconded(Norris-Tucker)thattheconsentagendabeacceptedasamended,andthemotionpassedunanimously.LaneandPoggenpohlabstained.4.DEVELOPMENTPLAN09-03-BLACKCANYONINNCONDOMINIUMSMASTERPLANTheLodgesatBlackCanyonInnCondominiumslocatedintheeast½ofsection24,Township5North,Range73West,locatedat800MacGregorAvenueOwner/Applicant:SloanInvestments,LLCdoJimSloanStaffReport:PlannerShirknotedthisisarequestforapprovaltobuild26dwelling/accommodationunits.Thedevelopmentplanalsoincludesrenovationstosomeexistingbuildingsandunits.Assumingapprovalandbuild-out,thiswouldbringthetotalto59units.Theapplicantproposesdevelopmentintheeasternportionofthesite.PlannerShirkstatedtheOverlookCondominiumowner’sassociationissuedaletteropposingtheemergencyaccessthroughtheirproperty.TheApplicanthastalkedtotheOverlookboardonthisissue.Also,commentswerereceivedopposingBuildingG(units1-5),whichhassincebeenremovedfromtheproposal.PlannerShirknotedthereisaSupplementalCondominiumMapthatincludesdedicationofthisemergencyaccesseasementthatwillbegoingbeforetheTownBoardonJune23,2009.PlannerShirknotedthisproposaldoesrequiremodificationstostreetstandards;namely,thelengthoftheculdesac.Thedeveloperisproposingmorevehicletripsperday(VTD)thancodeallowsonaculdesac.ThismodificationwasapprovedduetotheplannedemergencyaccessconnectionbetweentheBlackCanyonpropertyandtheOverlookproperty.Thedevelopmentcomplieswiththesetbackrequirementsof50-feetfromwetlandsareas,andthebuildingheightwillalsocomply.PlannerShirknotedtheBuildingdepartmenthasafewissueswhichwillneedtobeaddressedpriortoapproval.ThereisalsoaconditionofapprovaltoaddatrailalongMacGregorAvenue.AcorrectiontothesewerlinetotheRidgeviewCondominiumswillberequired.Staffisrecommendingthat2:1treereplacementberequiredforthosetreesbeingremoved.Concerningthewildlifeassessmentreport,threemitigationtechniqueswererecommended:1)timingofconstruction,2)fenceconsiderations,and3)bear-prooftrashcontainers.Theapplicanthasrequestedareductionintheparkingrequirementfrom2.25spacesperunitto7.5spacesperunit.Thisrequestisbasedonhistoricalusage,andwillreducetheimperviouscoverage.PlannerShirknotedthisproposalcomplieswiththedensityrequirements,whichwerebasedontheresidentiallandusecategory.Healsonotedthisproposalincludesimprovementstofouremployeehousingunits.PlannerShirkstatedthatalthoughUnits1-5havebeenremovedfromthisproposal,itdoesnotprecludethedeveloperfromsubmittinganewdevelopmentplantoconstructtheseunitsinthefuture.
F’ECORDOFPROCEEDINGSEstValleyPiannhtCommission3June16,2009PublicComment:KerryProchaska/CornerstoneEngineering,representingtheapplicant,notedtheelectricalwillbeworkedintotheexistingsubdivisionandwillprovidealoopservicefortheentirearea.Henotedtheemergencyaccesseasementwillnotbeathoroughfare,asitwillhavealockedbarrieracrosstheentrance.Mr.Prochaskanotedthedeveloperdisagreeswiththe2-for-itreereplacementcondition,andisrequestingnotreereplacement.Mr.Sloanbelievesthereareenoughshrubsandotherlandscapingthatwillsufficeforlandscaping.PlannerShirkstatedadistrictbufferisrequiredalongtheeastsideofthepropertywheremanytreesarebeingremoved.AuthieCosbylTownResidentlOverlookCondominiumsHOATreasurernotifiedthePlanningCommissionoftheoverwhelming‘No”bytheHOAfortheemergencyaccesseasement,withconcernsofunintendedconsequences,liability,additionalcoststohomeownersforimprovementsand/ormaintenance,etc.JohannaDardenlrownresidentopposesthisdevelopment.PatriciaWedantrownresidentbelievesMr.Sloanisveryconscientiousandwilldothebestjobpossibletopreserveasmuchaspossible.GaleWhite/Townresidenthasconcernsaboutincreasedtrafficandlighting.HewouldlikethePlanningCommissiontoconsiderthepercentageofaccommodationsunitsversussingle-familyunits.PlannerShirkcommentedtheentrancetothedevelopmentwillbereconfiguredtobecomesafer.TheTrafficImpactAnalysisindicatesonevehicleforevery1.4units,andtheanticipatedincreaseonweekendsduringpeakhoursis15vehicletripsperday.BillDarden/Townresidentapprovesoftheplan,buthasconcernsaboutbeingabletoactuallyusetheemergencyaccesseasementinanemergency.Closedpubliccomment.CommentsfromtheCommissionersincluded:CommissionerNorrisispleasedwiththeoverallproject,andagreeswiththetrailconstructionandtreereplacement;CommissionerTuckerwouldliketoseetreereplacement1:1;CommissionerFraundoilsupportsanapprovedmaintenanceagreementfortheeasement,andbelievestreereplacementshouldbe1:1;CommissionerPoggenpohlagreeswiththe2:1treereplacement.Healsosupportstheadditional25feetofright-of-wayforfutureuse;CommissionerLanesupportstheemergencyaccesseasementandalesserstandardthanthe2:1treereplacement;CommissionerHullsupports2:1treereplacement;CommissionerKlinkisconcernedthatthetrailisnotahighpriority.HebelievesthenewtrailshouldbepavedtoSt.Bart’schurch,duetotheanticipatedhighuse.DirectorJosephexplainedthetwotrailoptionstotheCommission:1)buildthetrail,2)providecashinlieuofbuildingtopayfortheirshareofthefuturetrailconstruction.Itwasmovedandseconded(Tucker/Klink)toAPPROVEtheBlackCanyonInnDevelopmentPlan#09-03conditionaltothefindingsandrecommendationsnotedbystaff.Themotionpassedunanimously.CONDITIONS:1.Compliancewithapproveddevelopmentplanandarchitecturalplans.Approvalofthisdevelopmentplanshallsupersedeallpreviousdevelopmentplanapprovals.2.Thedevelopmentplanshallberevisedtoaccountforthefollowing:a.ProposedUnits1-5(BuildingG)andappurtenancesshallberemovedfromtheplan.b.Submittalofaphasingplanoutliningsequentialutilityinstallation(includingfirehydrantsandstormwaterfacilities)anddevelopmentofunits.c.Architecturalrenderingsfortheproposedbear-prooftrashenclosure.
FECORDOFRU,FEDING3L-ste.VeIeyPkinningComimssion4Jrin16,2009d.Delineatenumberofsignificanttreestoberemoved,andincludenumberof0replacementtrees(onereplacementtreeforeachsignificanttreeremovcd).e.Includethenote:SignificanttieestoremainshallbesubjecttomaintenancerequirementssetforthinSection7.5.JoftheEstesValleyDevelopmentCode.f.Includethenote:NoconstructionactivityshallbeinitiatedbetweenApril1andJuly15ofanyyear.3.Compliancewiththefollowingmemos/leffers/emails:a.EPSDtoDaveShirkdatedMay13,2009.b.GregSieverstoDaveShirkdatedMay8,2009.c.GregWhitetoDaveShirkdateApril16,2009.d.PublicWorks(TracyFeagans)toDaveShirkdatedApril24,2009.e.EstesValleyRecreationandParkDistricttoDaveShirkdatedApril21,2009.f.WillBirchfieldtoDaveShirkdatedApril27,2009.g.CorpsofEngineerstoDaveShirkdatedApril14,2009.h.ScottZurntoDaveShirkdatedJune2,2009.4.Priortoissuanceofagrading/buildingpermitfornewdevelopment:DevelopmentAgreementandformofguaranteeshallbesubmitted.a.AnemergencyaccesseasementthroughtheOverlookcondominiumsshallberecordedwiththeLarimerCountyClerk.ThiseasementshallalsoprovideforemergencyaccessthroughtheBlackCanyonpropertytotheOverlookcondominiums,maintenance,andshallbesubjecttoreviewandapprovalofTownStaffpriortorecordation.b.FinalconstructionplansshallbeapprovedbytheTownofEstesParkPublicWorksDepartment,EPSD,andtheEVAPD.c.Thesheepfence”asnotedonpage5ofthewildlifeimpactassessmentshallberemoved.5.PRELMINARYSUBDIVISIONPLAT—THENEIGHBORHOOD—Lots15,16,and17,Block2,TheNeighborhood,OwnerandApplicant:PawneeMeadows,LLCStaffReport:PlannerChilcottstatedthisisarequesttosubdividethreelotsintofivelotsinTheNeighborhoodsubdivision.Theoriginal1975subdivisionhad30homes,with15deedrestrictedtobeattainablehousing.Thisapplicationwouldincreasethenumberoflotsfrom30to32,withtheadditionaltwolotsbeingdeedrestricted.MostofPhaseIhasbeencompleted.PawneeMeadows,LLCisinthebeginningstagesofdevelopingPhaseII.Thisdevelopmentishelpingtomeetanimportantneedforaffordablehousinginthiscommunity.Homesarecurrentlybeingsoldforapproximately$100,000lessthanthemedianhomepriceinthearea.Thisproposal,ifapproved,willkeeptheprojectviableintoday’seconomy,reduceinfrastructurecosts,keepsellingpricesdown,andresultinincreasedhomesize.Alloftheproposedlotsareconformingwithinthezoningdistrict.StafffindstheapplicationcomplieswiththesubdivisioncriteriaintheEVDC.Theapplicantisalsoaskingforareducedsetbackononesidefrom10feetto7.5feet,withagreatersetbackontheoppositeside.Staffissupportiveofthisreducedsetback.ThischangewouldrequireanapprovalofaminormodificationbythePlanningCommission.Theinfrastructurethatwasplannedpriortothisapplicationissufficienttohandlethetwonewproposedlots.Ifapproved,anumberofagreementswouldneedrevision,includingbutnotlimitedto:DevelopmentAgreementstatinga30-lotdevelopmentshouldbechangedto32lots;anupdatedAttainableHousingAgreementstatingwhichlotswouldbedesignatedasattainablehousing;andanagreementbetweentheTownofEstesParkandtheHousingAuthoritytoensurethecorrectincomecategoryforbuyersshouldberevisedfrom15homesto17.PlannerChilcoffcommentedtheareaisinamappedelkhabitatarea,whichcreatesafencingissue.Theapplicanthasshownproposedfencingoftherearyards,whichcouldtieintoeachotherandrestrictelkmovement.PlannerChilcoffremindedtheCommissionersofthe40-inchfenceheightlimitinmappedwildlifehabitatareas.
IRECORDOFPROCEEDINGSEstesValleyPlanningCommission-5June16,2009Migrationopeningsarerequiredevery40feetifthefenceishigherthan40inches.Inhindsight,DirectorJosephstatedthereshouldhaveheeiiamasterfencingplanforthissubdivision.Hebelievesthefencingissueisafunctionoftherelativelysmalllot--sizes.PlannerChilcottnotedtherewillneedtobesomerevisionsfortheutilityeasementsifthesetbacksarechanged.Shealsostatedthelotnumberingsystemneedstoberevisedtodifferentiatebetweentheoldsubdivisionandthenewsubdivision.Thereisalsoaneighborhoodtrashissueonsomelots,andPlannerChilcottstatedmostofthisjunkisonalotdonatedbyPawneeMeadows,LLCtotheEstesParkNon-profitResourceCenter.CodeEnforcementOfficerAndrewHarthasbeenworkingwiththeResourceCenterBoardtocleanupthearea.PlannerChilcottremindedCommissionersthatthoselotsarenotpartofthisproposal.ThereisalsoahousethatisownedbyPawneeMeadows,LLC,whichneedstoberemovedbeforearoadtotheproposedlotscanbebuilt.Staffrecommendsapprovalwithconditions.PublicComment:PaulKochevarwithPawneeMeadows/Applicantclarifiedthechangeinthesidesetbackwouldinvolvetaking2.5feetfromonesideandaddingittotheothersideofthelotwhichwouldthenhavea12.5footsetback,withnoincreaseinthebuildingarea.Hewouldliketomakethissetbackissueanamendmenttotheapplication.Mr.Kochevarnotedthefencealongthesouthsideofthelotswillnotbesolid.Also,thesidefencingwillbealloweduptothebackofthegaragesorentryways.CommissionerHullvoicedherdisappointmentinMr.Kochevarindealingwiththetrashinthesubdivision.MarionDougherty/Townresidenthasconcernsaboutthetrashinthearea,aswellasthefencingissue.Sheisalsoopposedtoanyfencingofthelots.Also,sheisopposedtochangingthetypeofstructureonthelotsfromone-storytotwo-story.SandyOsterman/TownresidentisconcernedaboutthetrashthatblowsintotheTalon’sPointneighborhoodfromTheNeighborhood.Sheisalsoopposedtotheareafencesandbelievestheyviolatetherequirements.Theseissueshavebeenongoingoverthelastcoupleofyears.PlannerChilcoffnotedtheapplicanthasbeenworkingwithCommunityDevelopmentstaffinrecentweekstoworkontheissuesaddressedtoday.AmotiontocontinuewasmadebyCommissionerLaneandlaterwithdrawn.DirectorJosephstatedafailurebythePlanningCommissiontoactontoday’sapplicationisdeemedarecommendationofapprovaltotheTownBoard.DirectorJosephremindedtheCommissionthatfencingcanonlybeaddressedonlotsunderthisproposal.ApplicantKathrynKochevaraskedforcompassiononthisprojectandwantsthePlanningCommissiontorealizethereasonsheandherhusband,PaulKochevar,beganthisprojectwiththegoalofhelpingresidentsofthecommunityrealizethebenefitsofhomeownership,notwiththegoalofmakingalargerprofit.Shewantstobeabletoprovideaffordablehousinginthecommunity,andwouldhopetobeprovidedsomeleniencyonthefencing.Closedpubliccomment.CommissionerNorrissuggeststhedevelopercomeupwithacommunicationplantoaddressthetrashproblemswithneighbors.Hesupportsa40-inchfencingplanandtheminorsetbackmodification.CommissionerFraundorfindicatedthe40-inchfencingplanneedstobeveryspecific.Healsosupportsthesetbackmodification.Itwasmovedandseconded(Tucker/Lane)torecommendapprovalofTheNeighborhoodPreliminarySubdivisionPlattotheTownBoardofTrusteeswiththefindingsandrecommendationsinthestaffreportandthefollowingconditions.ThemotionpassedwithCommissionerHullabstaining.
RECoRDOPFC3CEEDiEstesVatlePlpnninoCommission6JunclEi,20090Coiditions:1.Compliancewiththesubmittedapplication.2.Noc:hangestotheoriginalNeighborhoodsubdivisionapprovalareapprovedexceptthosenotedinthestaffreport.3.Aminormodificationtotheside-yardsetbacktoallowplatted7.5-footsidesetbacksononeside,providedthereisa12.5-footsetbackontheoppositeside.4.Fencingonindividuallotsshallberestrictedto40inchesinheight.6.PROPOSEDAMENDMENTSTOTHEESTESVALLEYDEVELOPMENTCODE,BLOCK12a.WILDLIFEHABITATPROTECTION—revisionsto§7.8oftheEstesValleyDevelopmentCode,including,butnotlimitedto,removaloftheColoradoDivisionofWildlifefromthereviewprocessandupdatingwildlifehabitatmaps.StaffReport:DirectorJosephstatedPlanningCommissiondirectedStafftoproduceaveryshortandconcisecodefixthatwouldaddresstheroleoftheDivisionofWildlifeandwouldalsofirmupthePlanningCommission’spositionintheirabilitytoturndownadevelopmentproposalbasedonmitigation.Thisproposeddraftfocusesonwhenawildlifehabitatassessmentistriggered,andremoveselkcalvingasatriggerforawildlifehabitatassessementsinceelkcalvingoccursthroughouttheentireEstesValley.ConcernsbroughtforthbytheCommissionincluded—CommissionerKlinkisconcernedaboutthelargenumberofraptorareasonmapsaswellasotherareasthatwouldtriggerassessments,CommissionerHullprefersthecalvingareasremaininthemaps,wouldliketosee“DivisionofWildlife”removedfromE.5,wouldliketoseecalving,lambing,andfawningaswellasraptorareasbackinthecode.In4.a.,CommissionerHulldoesnotrecallseeingany“requirementsofthisSection;”andwouldlikethewords“andeffective”beaddedinto4.b.toreadPlansfoundtobeadequateandeffectivebytheDecision-MakingBodyshallbecomebindingupontheApplicant.(Note:..‘andeffective’wasremovedfromthelanguageinthefinalmotiontorecommendapprovaltotheTownBoard)Finally,CommissionerHullprefersaqualifiedwildlifebiologistoveraqualifiedperson.DirectorJosephstatedthisrevisionpertainsmainlytowhenanassessmentistriggeredthatcouldresultinafindingofadverseimpact.ThisfindingofadverseimpactwouldbetakenoutofthehandsoftheDivisionofWildlifeandbegiventoPlanningCommission,TownBoard,andCountyCommissioners,andfurthernarrowsittoremovecalvingasatriggersincecalvingoccursvalley-wide.CommissionerNorrissuggestsin4.b.touseWildlifestudyandanymitigationplansmustbefoundadequateandeffective...;inH.2.d,hebelievesalistofexamplesshouldbeincluded.CommissionerLanesupportsallchanges.CommissionersTuckerandHullapproveofthemaps.CommisssionerFraundortsupportsthechanges.CommissionerPoggenpohibelievesthisshort-termfixisacceptable.PublicComment:FredMares/TownresidentsubmiffedalettertotheCommissionersthatstateshissupportofawildlifecodethatcomplimentsanopenspaceplan.Heisconcernedthereisnorevisionlistingrequirementsformitigationandimplementation,normentionofdensityorreducedfootprint.JohannaDarden/TownresidentagreeswithFredMaresandbelievesanycoderevisionsshoulderronthesideofallwildlife.
RECORDOFiRODLEDlN1SEstecValicyPlanningCommission7Juno1,2fl09MarkElrod!Townresidentbelievesa‘qualifiedperson”isnotacceptable.Also,hedisagreeswiththeremovaloftheabilitytochangethemapswhenerrorsamfound.Closedpubliccomment.CommissionerLanequestionsinserting“effective”intoSection7.8.R4.b,becauseyoucannotdetermineifaplaniseffectiveuntilafterithasbeeninplaceforaperiodoftime.Itwasmovedandseconded(Klink/Norris)torecommendapprovaltotheTownBoardofTrusteestheproposedwildlifehabitatcoderevisionswiththefollowingadditionalmodificationsasapprovedbythePlanningCommission:Section7.8.E.1,continuetousethemaplanguagefromDecember,1996;Section7.8.E.5,strike“afterconsultationwiththeDivisionofWildlife”;Section7.8.F.4.b,modifytoread“wildlifestudiesandanymitigationplansfoundtobeadequatebytheDecision-MakingBodyshallbecomebindingontheapplicant;”Section7.8.H.1,strike“andisacceptabletotheStaff.”Themotionpassedunanimously.CommissionerNorriswantsTownBoardtoknowthisisafirststepinimprovingthewildlifecodeandurgesTownBoardtoproceedwithanopenspacestudy.CommissionerHullsupportstheabilitytoamendthemaps,andpreferstohavecalvingandfawninginthecode.CommissionerLaneisinterestedtoseewhatTownBoardopinionisonremainingproblems.CommissionerTuckerbelievesthiscodewillallowtheCommissiontobemoreeffective.CommissionerFraundortwantstofinetunethecode.CommissionerPoggenpohlsuggestscreatingchecklistsforconservationplans.CommissionerKlinklooksforwardtohearingfromTownBoardonotherissuestoaddress.7.REPORTSPlannerChilcoffreportedtherearetwostaff-leveldevelopmentplansunderreview,onebeingaSafewayfuelingstationatthecurrentSilverLaneStables,andtheotherasmallgrouplivingfacilityat857MoraineAvenue.BothpositiveandnegativewrittencommentshavebeenreceivedontheSafewayproject.TheSafewayplanalsoincludesaheightvariancerequestthatwillgobeforetheBoardofAdjustment.DirectorJosephnotedthatstaffhadapre-applicationmeetingfortheStanleyParkgrandstandrenovation.Therebeingnofurtherbusiness,ChairKlinkadjournedthemeetingat5:35p.m.DougKlink,ChairKarenThompson,RecordingSecretary
IRECORDOFPROCEEDINGSRegularMe&ingoftheEstesIalleyBoardofAdjustmentJune2,2009,9:00fl.m.BoardRoom,EstosParkTownHallBoard:ChairChuckLevine,MembersJohnLynch,BobMcCreery,WayneNewsorn,andAlSager;AlternateMemberBruceGrantAttending:MembersLevine,Lynch,McCreery,Newsom,andSagerAlsoAttending:DirectorJoseph,SignCodeOfficerCarolynMcEndaffer,andRecordingSecretaryThompsonAbsent:NoneChairLevinecalledthemeetingtoorderat9:00a.m.1.PUBLICCOMMENTNone2.CONSENTAGENDAa.ApprovalofminutesdatedApril7,2009Itwasmovedandseconded(Newsom/Sager)toapprovetheminutesaspresented,andthemotionpassedunanimously3.METES&BOUNDSPARCELINTHETOWNOFESTESPARKSUBDIVISION,locatedat205VirginiaDrive—RequestforvariancefromEPMC17.66.060,ProhibitedSigns(12)RoofSigns,andvariancefromEPMC17.66.130(1)(5)(7)Nonconformingsigns.Requesttoallowaprohibitedsignlocatedonaroofmorethan45degreesfromvertical.StaffReport:DirectorJosephstatedtheapplicant,VegaLLC,wishestochangetheletteringonthesignfaceofanexistingroofsignattheCourtyardShopstoadvertiseVegaTapasrestaurant,whichislocatedintheformerSmilingElkRestaurantlocation.ThepropertyisownedbyTrailInn,LLCandiszonedCD—CommercialDowntown.Itisapproximately.67acresinsizeandisamixed-usedproperty.Theapplicants,RonandCarolynKilgore,arethecurrenttenants.DirectorJosephreviewedthehistoryofthisparticularsign,notingthesigncodewasinterpretedincorrectlyandpermittedinerrorforthepreviousbusiness,SmilingElkRestaurant.Thecorrectinterpretationisanefforttoallowawallsignonaverysteeproof.AllBoardofAdjustmentmemberscommentedonthedifficultyofinterpretingthetwovariouswaysthatwerehighlightedinthestaffreport.DirectorJosephbelievesspecialcircumstancesexist,duetothefacttherestaurantistuckedbacktowardtherearofthepropertyatthetop,withlittleactualfrontageonVirginiadriveforexposuretothepublic.Thecurrentlocationofthesignisoneofthefewplacesitcanbeseenfromthepublicright-of-way.DirectorJosephnoteditisStaff’sopinionthatthecurrenttenantswerenotawareofthenonconformingissuesrelatedtothisparticularsignuntiltheycameintothebuildingdepartmenttorequestapermittochangethesign.TheKilgore’sassumedtheywouldbeabletomaintainthecurrentsignanduseitasadvertisingforVegaTapasRestaurant.PlanningStaffsupportsthisvariancerequest.SignCodeOfficerMcEndafferhasreviewedthesquarefootageoftheexistingsignandhasdetermineditiswithinthelimitsfortheallottedsquarefootage.DirectorJosephrecommendsapprovaloftherequestedvariancewithconditions.Henotedthisvarianceapprovalisgoodonlyforthisparticularsign.Changestotheexisting
RECORDOFPROGEEDlNGSEstosVallayBoardofAdjustment2April7,20Osigncanonlybtotrepairandmaintenance,andalsothesignletteungifnewtenantsmovein.ThesechangescanbedonewithoutBoardofAdjustmentreview.DirectorJosephstatedanynewownersthatwanttochangethesizeofthesignorinstallanewsignwillhavetoapplyforavarianceiftheywantitinthesamelocation.BoardandPublicComment:MemberMcCreerythinksthisparticularsignhasaridge-linebuildingeffect,beinghigherthananysurroundingsigns.Althoughhedoesnotobjecttothissign,itisnotatypeofadvertisingthathewouldcontinuallysupport.Itwasmovedandseconded(Newsom/Lynch)toAPPROVEtheRequestforvariancefromEPMC17.66.060,ProhibitedSigns(12)RoofSigns,andvariancefromEPMC17.66.730(1)f5)(7)Nonconformingsignswiththefollowingconditions:1.Compliancewiththesubmittedapplication.ChangeofcopywillbepermittedaspartofthevariancewithoutfurtherreviewbytheBoardofAdjustmentprovideditdoesnotresultinanewviolationoftheeffectivesigncodeatthetimeofthechange.2.At,orpriorto,thetimeofissuanceofasignpermitfortheroofsign,theapplicantshallobtainpermitsforanyVegasignsontheCourtyardShoppropertythatrequireapermit.4.REPORTSDirectorJosephtoldthemembersabouttheSignCodeTaskForcethathasbeenmeetingforaboutfourweeks.Thiscommitteeisdiscussingexistingsigncodeissuesandwillprovidesuggestionsastohowtoaddressthoseissues.Hegaveabriefhistoryofthecurrentsigncode.Afterthetaskforcemakesitsrecommendations,StaffwillbegindraftinglanguagetotaketothePlanningCommissionforreviewandapproval.TherewasdiscussionbetweenStaffandtheBoardconcerningbannersandtheregulationsandexceptionscurrentlyinforce.Itwasnotedthatenforcementcontinuestobeaproblemandthetaskforceisawareofthatissue.Therebeingnofurtherbusiness,ChairLevineadjournedthemeetingat9:30a.m.ChuckLevine,ChairKarenThompson,RecordingSecretary0
RECORDOFPROCEEDINGSTownofEstesPark,LarimerCounty,Colorado,June24,2009MinutesofaSpecialmeetingoftheESTESPARKURBANRENEWALAUTHORITYoftheTownofEstesPark,LarimerCounty,Colorado.MeetingheldintheMunicipalBuildinginsaidTownofEstesParkonthe24thdayofJune,2009.Commissioners:ChairmanNewsom,CommissionersBlume,Halburnt,Little,Martinsen,WhiteandWilcocksAttending:ChairmanNewsom,CommissionersBlume,Halbumt,Little,Martinsen,WhiteandWilcocksAlsoAttending:EPURADir.Smith,EPURAAtty.Benedetti,andDeputyTownClerkDeatsAbsent:NoneChairmanNewsomcalledthemeetingtoorderat8:00am.COMMUNITYCOMMENTS.NoneCOMMISSIONERCOMMENTS.CommissionerBlumecommentedthatoverthepastmonthsexternalanti-EPURAattitudeshavedevelopedthathavenegativelyimpactedthepast,present,andfuturepositivecontributionsofEPURA,raisingaconcernaboutthefinalizationofthegrandstandsproject.HestatedthatfinancialandconstructionalbarriersmaydelaytheprojectandsuggestedtheconsiderationofremodelingandupdatingthegrandstandswithinEPURA’smonetarylimitof$1millionwithouttheneedtoincurunpaidbillsandfuturefinancialobligations.Hesuggestedadditionalupdatescouldoccurinthefuturewhenaffordable,andwithoutexternalinfluence.MINUTES.TheminutesoftheregularmeetingheldMay20,2009,wereapproved.EXECUTIVEDIRECTOR’SREPORT.1.MedicalLeave—Dir.SmiththankedDeputyTownAdministratorRichardsonforfillinginwhilehewasonmedicalleave.2.InformationalProgram—Developmentanddefinitionofaninformationalprogramisnecessary,especiallyinlightofapossibleupcomingelectionrelatedtothefutureofEPURA.Dir.SmithsaidtheformationofacommitteeandthepossibleinvolvementofPlORuschindevelopingastrategytodistributeinformation,andallaymisinformation,aboutEPURAmaybeoptions.ChairmanNewsomsaidhewouldconsiderappointingacommitteeandthatitmaybebeneficialforFinanceDir.McFarlandtoserveonthecommitteetoaddressfinancialquestions.3.ProiectsandFinances—Dir.Smithsuggestedputtingallpreviouslyapprovedprojectsonholduntilacostforthegrandstandsprojectcanbedetermined.UPDATEONGRANDSTANDSPROJECT.RogerThorp,ThorpAssociates,presenteddesignoptionsforthegrandstandsproject.HestatedthatbyutilizingtheRequestForProposal(RFP)andprograminformationprovidedbystaff,aninitialdesignconceptwascreatedfora29,000sq.ft.facilitythatwouldseat3000people;houserestrooms,aconcessionarea,firstaidarea,officespace,aticketboothandstorage;andmeetthedesigncriteriaadoptedbytheTownforimprovementsatStanleyPark.Theinitialdesigncameinoverbudgetatapproximately$1.8million,dueinparttorestroomrequirementsandtheplumbingfixturesandutilityworknecessarytosatisfythecode.Subsequently,adjustmentsweremadetotheinitial
SRECORDOFPROCEEDINGSEstesParkUrbanRenewalAuthority—June24,2009—Page2designresultingina23,000sq.ft.facilitywith2700seats,andmodificationstothewindows,entryelements,andoverhangs.Thisdesign,withreducedrestroomfacilityrequirements,alsocameinoverbudgetatapproximately$1.5million.Mr.Thorpprovidedalistofalternativestoreducethecostofthestructuresuchas:reducingsitework;furtherreducingseatingcapacity;movingallservicesunderthegrandstand;eliminatingexteriordesignfeatures;reducingroofcantilever;removingoverhangsandmetalroofing.Thesealternativeswouldcutthecosttoapproximately$1.2million,andresultinabare-bonesdesign.Discussionfollowedandissummarized:Estesneedsafacilitythatcancompetewithvenuesinthevalley;theTrusteeshavegivennoindicationthattheTownhasmoneytocontributetothegrandstandsprojectandwithdesignconceptoverbudgetitisunfairtoasktheTownBoardformoney;theprojectwouldbedifficulttophaseotherthanexpandingeasttowest;currentgrandstandscreatesafetyissue;trytomaintain2700seatsbutsimplifydesigntowithin$1millionbudget;obtainacostbreakdowntoillustratewhatcanbedoneforthefirst$1millionandcontinueimprovementsinthefutureasmoniesbecomeavailable;optiontoaskarchitectfor$1milliongrandstandsdesignwithaddonoptions,oraskTownBoardforhelpwithbuildingthegrandstands;cannotsupportconstructionoflow-endfacility;andotherprojectswithinthecommunitycouldbeundertakenwithEPURA’s$1million.Followingdiscussionitwasmovedandseconded(Wilcocks/White)that,asthelow-enddesignoptionisnotacceptabletotheEPURAboard,anyadditionalworkonthepartofThorpAssociatesonalow-enddesignoptionbehalted,anditpassed.ThosevotingYes”Little,Martinsen,White,andWilcocks.Thosevoting“No”BlumeandHalburnt.AGREEMENTBETWEENEPURAANDTOWNOFESTESPARKRELATEDTOTHEGRANDSTANDSPROJECT-DISCUSSION.EPURAAtty.PaulBenedettireviewedanagreementpreparedbyTownAtty.GregWhitebetweentheTownofEstesParkandEPURArelatedtotheconstructionofgrandstandsatStanleyParkFairgrounds.Hestateditwasastandard,straightforwardagreementthatoutlineshowthetwobodieswillcooperateontheproject,placingtheresponsibilityfordesigning,constructingandpayingforthegrandstandswithEPURA,anddesignatingatimetableforthecommencementofconstruction.Dir.Smithnotedthatinthepast,separateagreementsforspecificprojectshadnotbeenpreparedbutwereaddressedinthegeneralintergovernmentalagreement(IGA)betweenEPURAandtheTownofEstesPark.COOPERATIONAGREEMENTBETWEENEPURAANDTOWNOFESTESPARK—DISCUSSION.Atty.BenedettireviewedtheproposedCooperationAgreementbetweentheTownofEstesParkandEPURA.HesaidtheagreementstatesthatadecisiontoadvancemoniestoEPURAwouldbeconsideredbytheTownBoardonanannualbasisandadvanceswouldbeconsideredloansfromtheTown.Hesaidtheagreementcontainsaseparateprovisionrelatedtosalestaxtaxincrementfinancing(TIE)whichstatesanycommitmentofsalestaxTIEinthefuturewouldbeconsideredonacasebycasebasisandinconjunctionwithaspecificproject.TheagreementalsostatesthatEPURAwillobtainpriorapprovalfromtheTownBoardforallprojectsrequiringanexpenditureof$100,000ormoreandwillrequireaseparatewrittenagreementiftheprojectrequiresTownfinancialsupport,pledgeofsalestaxTIF,oruseofTown-ownedproperty.Atty.BenedettisuggestedconsultingwithAtty.WhiteandtheTownBoardtodiscussarevisiontoSection4oftheagreementtoprovidefundingassurancetoEPURAandtoeliminatetheburdenofannualnegotiationsbetweentheTownandtheAuthority.Discussiononthefollowingtopicsensued:salestaxTIFwasinvaluabletoEPURAoverpast25years;salestaxisflatalloverstate,andpropertytaxTIEisaffectedbylossofassessedpropertyvaluations;EPURAmaynothavemeanstopaybackaloanfromtheTown,aspropertytaxTIEmayormaynotincrease;EPURAhasobligationtopayback
RECORDOFPROCEEDINGSEstesParkUrbanRenewalAuthority—June24,2009—Page310%ofpropertytaxTIFtoLarimerCounty;considerdevisingaplantopresenttotheTownBoardindicatinghowmuchmoneyisbeingrequestedandwhy;andinlightofthegrandstandsprojectthecooperationagreementneedstobefinalizedassoonaspossible.Itwasmovedandseconded(Martinsen/Little)toarrangeameetingbetweentheEPURACommissioners,Exec.Dir.Smith,Ally.Benedefti,theTownBoard,andAlly.WhitetodiscusstheCooperationAgreement,concentratingthediscussiononhowEPURAwillbefundedsincetheproposedmajorprojectdependsonfunding,anditpassedunanimously.Dir.Smithwillschedulethismeetingassoonaspossible.ELECTIONOFOFFICERS.EPURAby-lawscallforanelectionofofficerseachJune.CommissionerWhitenominatedCommissionerNewsomforChairmanandCommissionerWilcocksasViceChair.CommissionerBlumesecondedthemotion.Astherewerenoothernominations,themotionpassedwithChairmanNewsomandCommissionerWilcocksabstainingfromthevote.Whereupon,ChairmanNewsomadjournedtheregularmeetingat9:50a.m.CynthiaDeats,DeputyTownClerk
MemoTo:HonorableMayorPinkhamBoardofTrusteesTownAdministratorHalburntFrom:DavidShirk,PlanneritDate:July28,2009Subject:StoneBridgeEstatesPreliminaryandFinalCondominiumMapsBackground.ThisisarequestbyRockCastleDevelopmentforpreliminarycondominiummapapprovalforfourteenunitspreviouslyapprovedwiththeStoneBridgeEstatesdevelopmentplan(tenunitsinPhaseIIarenotincludedinthisapplication).Thisrequestalsoincludesthefinalcondominiummapfortwooftheseunits.Pursuanttostatelaw,condominiumunitsmaynotbefinalizeduntiltheunitsaresubstantiallycomplete.Becauseofthis,final“supplemental”mapswithbesubmittedastheprojectbuildsout.AccordingtoproceduresetforthintheEstesValleyDevelopmentCode,theFinalCondominiummapproceedsdirectlytotheBoardandisnotreviewedbythePlanningCommission.Theproposedcondominiummapscomplywiththeapproveddevelopmentplan.Budget.N/AAction.AttheirregularlyscheduledJuly21,2009meeting,theEstesValleyPlanningCommissionfound:
1.PursuanttoC.R.S.30-28-10,sub-section4(a),‘noplatorsubdividedlandshallbeapprovedbytheBoardofCountyCommissionersunlessatthetimecitheapprovalofpattingthesubdividerprovidesthecertificationofthecountytreasurer’sofficethatalladvalorerntaxesapplicabletosuchsubdividedland,foryearspriortothatyearinwhichapprovalisgranted,havebeenpaid.”2.ThisproposalcomplieswithapplicablesectionsoftheEstesValleyDevelopmentCode,aswellastheapproveddevelopmentplan.3.Thisrequesthasbeensubmittedtoallapplicablereviewingagencystaffforconsiderationandcomment.4.ThisisaPlanningCommissionrecommendationtheTownBoard.ThePlanningCommissionvotedunanimouslytorecommendAPPROVALofthePreliminaryPlatofStoneBridgeEstatesCondominiumsCONDITIONALTO:1.CompliancewithDevelopmentPlan07-09“StoneBridgeEstates;”2.CompliancewithmemofromGregWhitetoCommunityDevelopmentdatedJune24,2009;3.CompliancewithmemofromPublicWorkstoDaveShirk(etat)datedJune26,2009.SuggestedMotions:I.ImovetoapprovetheproposedPreliminaryPlatofStoneBridgeEstatesCondominiums,CONDITIONALTOthefindingsandrecommendationmadebythePlanningCommission;and,II.ImovetoapprovetheproposedFinalPlatofStoneBridgeEstatesCondominiumsCONDITIONALTOcompliancewiththepreliminarycondominiummap.IPage2
MemoTo:HonorableMayorPinkhamBoardofTrusteesTownAdministratorHalburntFrom:DavidShirk,Planner&rhDate:July28,2009Subject:TheMeadowPreliminaryandFinalCondominiumMapBackground.ThisisarequestbyMarysMeadowDevelopmentforpreliminarycondominiummapapprovalforthirty-fiveunitspreviouslyapprovedwiththeMarysMeadowdevelopmentplan.Thisrequestalsoincludesthefinalcondominiummapfortwooftheseunitsandagaragebuilding.Pursuanttostatelaw,condominiumunitsmaynotbefinalizeduntiltheunitsaresubstantiallycomplete.Becauseofthis,final“supplemental”mapswithbesubmittedastheprojectbuildsout.AccordingtoproceduresetforthintheEstesValleyDevelopmentCode,theFinalCondominiummapproceedsdirectlytotheBoardandisnotreviewedbythePlanningCommission.Theproposedcondominiummapscomplywiththeapproveddevelopmentplan.Budget.N/AAction.AttheirregularlyscheduledJuly21,2009meeting,theEstesValleyPlanningCommissionfound:1.PursuanttoC.R.S.30-28-110,sub-section4(a),“noplatforsubdividedlandshaltbeapprovedbytheBoardofCountyCommissionersunlessatthetimeofthe
approValofplattingthesu[)cflvdetptD\fidesthecerUiloationofthecountytreasurcisofUcethatalladvalorenitaxusapphcabletosuchubciividedland,foryearspriortothatyearinwhichapprovalisgranted,havebeenpalU.”2.ThisproposalcomplieswithapplicablesectionsoftheEctesValleyDevelopmentCode,aswellastheapproveddevelopmentplan.3.Thisrequesthasbeensubmittedtoallapplicablereviewingagencystaffforconsiderationandcomment.4.ThisisaPlanningCommissionrecommendationtheTownBoard.ThePlanningCommissionvotedunanimouslytorecommendAPPROVALofthePreliminaryPlatofTheMeadowCondominiumsCONDITIONALTOcompliancewithDevelopmentPlan06-01“MarysMeadow;”SuggestedMotions:I.ImovetoapprovetheproposedPreliminaryPlatofTheMeadowCondominiums,CONDITIONALTOthefindingsandrecommendationmadebythePlanningCommission;and,II.ImovetoapprovetheproposedFinalPlatofTheMeadowCondominiumsCONDITIONALTOcompliancewiththepreliminarycondominiummap.•Page2
öoñAflniityijevéloprnentDepartmentMemoTo:HonorableMayorPinkhamBoardofTrusteesTownAdministratorHalburntFrom:DavidShirk,PlannerDate:July28,2009Subject:WonderviewVillageSecondSupplementalCondominiumMap(Unit13)Background.OnMay23,2006,theTownBoardapprovedthePreliminaryCondominiumMapforWonderviewVillage,aseventeenunitresidentialdevelopmentcurrentlyunderconstruction.Theapplicant(SteveMurphree)nowrequeststofinalizethethirdunitofthiscondominiumsubdivision.Theremainingfourteenunitswillbefinalizedasdevelopmentproceeds.Themapisconsistentwiththeapproveddevelopmentplanandpreliminaryplat.Budget.N/AAction.Staffrecommendsapprovalofthe“CondominiumMapofWonderviewVillageCondominiumsUnit13”CONDITIONALTO:1)Compliancewithoriginalpreliminarycondominiummapapproval(May23,2006).2)CompliancewithapproveddevelopmentplanofWonderviewVillage.3)Servicelinesandmeterlocationsshallbedelineatedontheplansheet.
ESTESCOLORADOMemoTo:HonorableMayorPinkhamBoardofTrusteesTownAdministratorHalburntFrom:AlisonChilcott,PlannerII,andDate:July22,2009Re:TownofEstesParkCommunityDevelopmentRoom210,TownHallP.O.Box1200,EstesPark,CO80517BobJoseph,CommunityDevelopmentDirectorPreliminarySubdivisionPlat,AmendedPlatofLots15,16,and17,Block2,TheNeighborhood,PawneeMeadows,LLC/Applicant.Background.PawneeMeadows,LLChassubmittedapreliminaryplatapplicationtosubdividethreeR-1-zonedlotsinPhaseIIofTheNeighborhoodsubdivision(Lots15,16,and17,Block2)intofivelots.PawneeMeadows,LLCdescribesintheirstatementofintentthatthisisanefforttokeeptheprojectviablegiventheslowsales.Increasingthenumberoflotsreducestheinfrastructurecostsperlot,allowinghomesontheselotstobesoldforabout$20,000lessthanhomesbuiltonotherlotsinthesubdivision,whilealsoincreasingthehomesizebyaboutfifteenpercent.Thissubdivisionwouldincreasethetotalnumberofsingle-familylotsinTheNeighborhoodfromthirtytothirty-twoandthenumberattainable(deed-restricted)lotsfromfifteentoseventeen.PARKTheEstesValleyPlanningCommissionrecommendedapprovalofthepreliminaryplatattheirJune16,2009meeting.Belowisalocationmapandcopyofthepreliminaryplat.TIlEVEIGIII)OIUlOt)I)txAtUUl)thWtJ4?5*CCU470.1fg4•:;*1)eUHF-U.I.—-flHUJfHOJUFY.cHTalonsPointe--•--.RedTailHawkCt.‘-.:;:-!-:V’’F-
_0%jiLot2A1,ot3ALot4A!LotSAi-’Ic:,jLotl5_76LathBudget.FeewaivershavebeenrequestedandwillbescheduledforCommitteeandTownBoardreview.CommunityDevelopmentAction.ApprovalofthepreliminaryplatapplicationwiththeEstesValleyPlanningCommissionsfindingsandrecommendedconditionsofapproval.1.Compliancewiththesubmittedapplication.2.NochangestotheoriginalNeighborhoodsubdivisionapprovalareapprovedexceptthosenotedinthestaffreport.3.Aminormodificationtotheside-yardsetbacktoallowplatted7.5-footsidesetbacksononeside,providedthereisa12.5-footsetbackontheoppositeside.4.Fencingonindividuallotsshallberestrictedto40inchesinheight.00•Page2
AuditCommitteeMemoTo:HonorableMayorPinkhamBoardofTrusteesTownAdministratorHalburntFrom:SteveMcFarland,FinanceOfficerAuditCommittee(MayorPinkham,TrusteeEricson,TownAdministratorHalburnt)Date:July28,2009Subject:2008ComprehensiveAnnualFinancialReport(CAFR)BackgroundTheTownofEstesParkundergoesanannualindependentauditofitsfinancialstatements.TheauditreportfortheyearendedDecember31,2008hasbeencompletedandhasbeendeliveredtotheAuditCommitteebytheindependentauditingfirmofSwanhorst&Company,LLC.Theindependentauditors’reportexpressedanunqualifiedopinionthatthefinancialstatementspresentedfairly,inallmaterialrespects,thefinancialpositionofthefundsandactivitiesoftheTownofEstesParkinconformitywithGenerallyAcceptedAccountingPrincipals(GAAP).CommentsmadebytheGovernmentFinanceOfficersAssociation(GFOA)regardingpreviousyearshavebeenaddressed.Historically,theAuditCommitteemeetswiththeAuditorspriortothesecondTownBoardmeetinginJune.Thisyear’sAuditCommitteemeetingwasheldJuly7,2009duetoacombinationofschedulingconflictsandthecompletionoftheA-133SingleAudit(seebelowfordescription),.ApprovaloftheCAFRissoughtatthistimeannuallybecausetheCAFRmustbesubmittedtotheGFOAbyJune30thinordertoqualifyfortheAchievementinExcellenceinFinancialReportingAward(afilingextensionuntilJuly31,2009hasbeengranted).TheCAFRisalsoduetotheStateofColorado(viasubmissiontotheOfficeoftheStateAuditor)byJuly31,2009.Asstated,theAuditCommitteemetwithKyleLogan,ofSwanhorst&Company,LLConJuly7,2009.TheCommitteeisinpossessionoftheDRAFTversionofboththeManagementletterandtheCAFR.Relevantinformationascitedintheauditors’reportwasdulynotedbytheAuditCommitteeinitsreviewoftheCAFRattheCommitteemeeting.Someitemshaveinfactalreadybeenaddressed.Aspreviouslynoted,thisyear’sCAFRhasanewsection—theSingleA-133Audit.ThisauditwastriggeredandrequiredduetotheTownobtainingmorethan$500,000ingovernmentalgrants
duringthe2008calendaryear.Thereweretwofindingsinthisyear’sCAFRthatrequiredawrittenresponsefromTownstaff.Item2008-1addressedanoverstatementoffixedassetsregardingtheoldBob’sAmocostation/EPURAtransaction,datingbackto2005(GeneralFundbalancewasnotaffected).Item2008-2addressedtheneedforstrong,centralizedinternalcontrolsforgatheringandprocessinginformationaboutgovernmentgrants.StaffswrittenresponsesareincludedintheCAFR.The2008CAFRnotonlysatisfiesgovernmentandlegalaccountingstandards,butalsoreflectstheprofessionalismanddeterminationoftheTownadministrationandstafftoeffectivelymanagetheTown’sfinances.ItisclearthattheTownBoardandstaffshareastrongsenseoffiscalresponsibilitytoensurethecontinuedeconomicwell-beingoftheTown.WendySwanhorstand/orKyleLogan,CPAs,(President,ProjectManager(respectively)ofthe2008auditprocessandCAFR)ofSwanhorst&CompanyLLC,willbeattheJuly28,2009BoardmeetingandwillprovidecommentsandanswerquestionsinregardstotheauditandCAFRprocess.ActionstepsrequestedTheAuditCommitteerecommendsacceptanceoftheauditreportandComprehensiveAnnualFinancialReportfortheyearendedDecember31,2008.002
_____Swanhorst&CompanyLLCCc&(cdPublicAccu,,nlanLsJuly7,2009HonorableMayorandMembersoftheBoardofTrusteesTownofEstesParkEstesPark,ColoradoWehaveauditedthefinancialstatementsoftheTownofEstesPark(the“Town”)asofandfortheyearendedDecember31,200$,andhaveissuedourreportthereondatedJuly7,2009.Professionalstandardsrequirethatweprovideyouwiththefotlowinginformationrelatedtoouraudit.OurResponsibilityunderGenerallyAcceptedAuditingStandardsAsstatedinourengagementletter,ourresponsibility,asdescribedbyprofessionalstandards,istoplanandperformouraudittoobtainreasonable,butnotabsolute,assuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatement.Becauseanauditisdesignedtoprovidereasonable,butnotabsolute,assuranceandbecausewedidnotperformadetailedexaminationofalltransactions,thereisariskthatmaterialmisstatementsornoncompliancemayexistandnotbedetectedbycis.Inaddition,anauditisnotdesignedtodetectimmaterialmisstatementsorviolationsoflawsorregulationsthatdonothaveadirectandmaterialeffectonthefinancialstatements.Inplanningandperformingourauditofthefinancialstatements,weconsideredtheTown’sinternalcontrolasabasisfordesigningourauditingproceduresforthepurposeofexpressingouropinionsonthefinancialstatements,butnotforthepurposeofexpressinganopinionontheeffectivenessoftheTown’sinternalcontrol.Accordingly,wedonotexpressanopinionontheeffectivenessoftheTown’sinternalcontrol.Also,inaccordancewith0MBCircularA-133,weexamined,onatestbasis,evidenceabouttheTown’scompliancewiththerequirementsapplicabletoitsmajorprogramsforthepurposeofexpressinganopiniononcompliancewiththoserequirements.TheresultsofthisportionoftheauditarereportedintheComplianceSectionoftheTown’sComprehensiveAnnualFinancialReport(CAfR)andidentifiedadeficiencyininternalcontrolrelatedtotheidentificationoffederalawards.AccountingEstimatesAccountingestimatesareanintegralpartofthefinancialstatementspreparedbymanagementandarebasedonmanagement’scurrentjudgments.Certainaccountingestimatesareparticularlysensitivebecauseoftheirsignificancetothefinancialstatementsandbecauseofthepossibilitythatfutureeventsaffectingthemmaydiffersignificantlyfrommanagement’scurrentjudgments.Weevaluatedthekeyfactorsandassumptionsusedtodevelopthesignificantestimatesindeterminingthattheyarereasonableinrelationtothefinancialstatementstakenasawhole.8400E.CrescentParkway’Suite600•GreenwoodVillage,CO80111•(720)528-4306fax:(720)528-4307
SignificantAccountingPoliciesManagementhastheresponsibilityforselectionanduseofappropriateaccountingpolicies.Inaccordancewiththetermsofourengagementletter,wewilladvisemañagëmentabouttheappropriatenessofaccountingpoliciesandtheirapplication.ThesignificantaccountingpoliciesusedbytheTownaredescribedinNote1tothefinancialstatements.WenotednotransactionsenteredintobytheTownduringtheyearthatwerebothsignificantandunusual,andofwhich,underprofessionalstandards,wearerequiredtoinformyou,ortransactionsforwhichthereisalackofauthoritativeguidanceorconsensus.TheTownwasrequiredtoadoptnewaccountingstandardsrelatingtopostemploymenthealthcarebenefitspaidtoretirees.AtDecember31,2008,aliabilityof$6,619wasreportedinthefinancialstatementstocomplywiththesestandards.TheliabilitywillcontinuetoincreaseeachyearaslongastheTowndoesnotsetasidecashtofundtheliability.SignificantAuditAdjustmentsForpurposesofthisletter,professionalstandardsdefineasignificantauditadjustmentasaproposedcorrectionofthefmancialstatementsthat,inourjudgment,maynothavebeendetectedexceptthroughourauditingprocedures.Weprovidedmanagementwithascheduleofauditadjustments.AnauditadjustmentmayormaynotindicatemattersthatcouldhaveasignificanteffectontheTown’sfinancialreportingprocess(thatis,causefuturefinancialstatementstobemateriallymisstated).Managementhasdeterminedthattheeffectsoftheuncorrectedmisstatementsareimmaterial,bothindividuallyandintheaggregate,tothefinancialstatementstakenasawhole.Weproposedseveraladjustmentstothefinancialstatementsasaresultofourauditprocedures,whichindicatesaweaknessintheTown’sfinancialreportingprocess.Themostsignificantadjustmentrequiredarestatementofpriorperiodfinancialstatements.Propertywassoldduring2007butwasnotremovedfromtheaccountingrecords,requiringanadjustmentof$1,056,768tothegovernment-widefinancialstatements.DisagreementswithManagementforpurposesofthisletter,professionalstandardsdefineadisagreementwithmanagementasamailer,whetherornotresolvedtooursatisfaction,concerningafinancialaccounting,reporting,orauditingmatterthatcouldbesignificanttothefinancialstatementsortheauditors’report.Wearepleasedtoreportthatnosuchdisagreementsaroseduringthecourseofouraudit.ConsultationswithOtherIndependentAccountantsInsomecases,managementmaydecidetoconsultwithotheraccountantsaboutauditingandaccountingmatters,similartoobtaininga“secondopinion”oncertainsituations.IfaconsultationinvolvestheapplicationofanaccountingprincipletotheTown’sfinancialstatementsoradeterminationofthetypeofauditors’opinionthatmaybeexpressedonthosestatements,ourprofessionalstandardsrequiretheconsultingaccountanttocheckwithustodeterminethattheconsultanthasalltherelevantfacts.Toourknowledge,therewerenosuchconsultationswithotheraccountants.IssuesDiscussedPriortoRetentionofIndependentAuditorsWegenerallydiscussavarietyofmatters,includingtheapplicationofaccountingprinciplesandauditingstandards,withmanagementeachyearpriortoretentionastheTown’sauditors.However,thesediscussionsoccurredinthenormalcourseofourprofessionalrelationshipandtheresponseswerenotaconditiontoourretention.2
DifficultiesEncounteredinPerformingtheAuditWeencounteredsomedifficultiesduringtheauditprocesswiththeidentificationoffederalawards.Thisissueismorefullydiscussedinourauditoffederalawards.OtherInformationFireServicesTheFireServicesFundreportedreceivablesofover$31,000ontheaccountingrecords,manyofwhichappeartobeuncollectible.WerecommendthattheTowncloselymonitorthesereceivablesandupdatetheaccountingrecordsasnecessarytoensurethatfinancialinformationremainsaccurate.ConclusionWewouldliketothankSteveMcFarland,DebbieParraclc,DebbieMcDougall,andtheentireTownstafffortheirassistanceduringtheauditprocess.Everyonewashelpfulandcooperative.ThisreportisintendedsolelyfortheinformationanduseoftheBoardofTrusteesandmanagementoftheTownofEstesParkandisnotintendedtobeandshouldnotbeusedbyanyoneotherthanthesespecifiedparties.Verytrulyyours,Swanhorst&CompanyLLC3
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independent
fly,LLC).
Finance
auditors
D Deadlines:
•Due to Government Finance Officers
by June 30th
•Dueby July 315t to State of Colorado.
Association
CAFR F acts
•Auditors (Swanhorst &Company,LLC)spend one
audit.
is then
June/early July).
D Audit Committee:
Pinkham,Town
Trustee Ericson
Administrator
(Chair),Mayor
week at Town
March/April to
then
•CAFR
one weekinJanuary,
gather
assembled
in
information/perform
session and Audit Committee
between 2nd audit
meeting (late
Halburnt,Finance
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CAFR Facts
D Approved by Town Board prior to July 315t
D After approval,CAFR is:
H Posted on website
H Printed copies available
H 30+copies are distributed to various entities
H Used as a benchmark/anchor for budgeting
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CAFR components
D Financial Section (‘6O pages)
•Auditors’Report (to be discussed by Kyle Logan,
CPA)
•Management’s Discussion and Analysis (MD&A)
•Financial Statements/Schedules
D Notes (explanation)
D Supplementary information
D Performance vs Budget
CAFR components
D Newto 2008!
•Single Audit
D Generated when Federal Grants received exceed
$500,000 in one fiscal period.
ri Findings:
•Assets affected with sale of gas station (formerly known as
Bob’s Amoco)not properly recorded between Town and
EPURA.
•Tracking of grants needs to be more centralized
•Action plans/responses included in CAFR
CAFR components
D Statistical Section (15-20 pages)
•Financial Trends
•Revenue Capacity
•Debt Capacity
•Demographic/Economic Trends
•Operating Information
-r -:
TOWNOFESTESPARK,COLORADOCOMPREHENSIVEANNUALFINANCIALREPORTfortheYearEndedDecember31,2008PreparedByFINANCEDEPARTMENT
TABLEOFCONTENTSPAGEINTRODUCTORYSECTIONTitlePageTableofContentsi-ivListofPrincipalOfficialsvOrganizationChartviGFOACertificateofAchievementviiTransmittalLetterviii-xivFINANCIALSECTIONIndependentAuditors’ReportManagement’sDiscussionandAnalysisa-jBasicFinancialStatementsStatementofNetAssetsStatementofActivities2BalanceSheet-GovernmentalFunds3StatementofRevenues,ExpendituresandChangesinFundBalances-Governmentalfunds4ReconciliationoftheStatementofRevenues,ExpendituresandChangesinFundBalancesofGovernmentalFundstotheStatementofActivities5StatementofNetAssets-ProprietaryFunds6StatementofRevenues,ExpensesandChangesinFundNetAssets-ProprietaryFunds7StatementofCashFlows-Proprietaryfunds8StatementofFiduciaryNetAssets9StatementofChangesinFiduciaryNetAssets10NotestofinancialStatements11-33
TABLEOfCONTENTS(Continued)PAGEFINANCIALSECTION(Continued)RequiredSupplementaryInformationScheduleofFundingProgress-VolunteerFirefighters’PensionPlan34Generalfund-BudgetaryComparisonSchedule35-36ConventionlVisitorBureauFund-BudgetaryComparisonSchedule37NotestoRequiredSupplementaryInformation38CombiningandIndividualFundFinancialStatementsandSchedulesGovernmentalFundsCombiningBalanceSheet-NonmajorGovernmentalFunds39CombiningStatementofRevenues,ExpendituresandChangesinfundBalances-40NonmajorGovernmentalFundsCommunityReinvestmentFund-BudgetaryComparisonSchedule41MuseumFund-BudgetaryComparisonSchedule42ConservationTrustFund-BudgetaryComparisonSchedule43OpenSpaceFund-BudgetaryComparisonSchedule44SeniorCitizensFund-BudgetaryComparisonSchedule45FireServicesfund-BudgetaryComparisonSchedule46UrbanRenewalAuthority(SpecialRevenue)-BudgetaryComparisonSchedule47UrbanRenewalAuthority(CapitalProjects)-BudgetaryComparisonSchedule48UrbanRenewalAuthority(DebtService)-BudgetaryComparisonSchedule49BuildingAuthority-BudgetaryComparisonSchedule50EnterpriseFundsLightandPowerFund-BudgetaryComparisonSchedule51WaterFund-BudgetaryComparisonSchedule5211
TABLEOfCONTENTS(Continued)PAGEFINANCIALSECTION(Continued)CombiningandIndividualFundFinancialStatementsandSchedules(Continued)InternalServiceFundsCombiningStatementofNetAssets53CombiningStatementofRevenues,ExpensesandChangesinFundNetAssets54CombiningStatementofCashFlows55fleetMaintenanceFund-BudgetaryComparisonSchedule56VehicleReplacementFund-BudgetaryComparisonSchedule57HealthInsuranceFund-BudgetaryComparisonSchedule58InformationTechnologyfund-BudgetaryComparisonSchedule59AgencyFundCombiningStatementofChangesinAssetsandLiabilities60STATISTICALSECTIONFinanciaLTrendsNetAssets61ChangesinNetAssets62-63FundBalances,GovernmentalFunds64ChangesinFundBalances,GovernmentalFunds65RevenueCapacitySalesTaxRevenuebyTypeofIndustry66DirectandOverlappingSalesTaxRates67PrincipalSalesTaxCategories68DebtCapacityRatioofOutstandingDebt,byType69111
TABLEOFCONTENTS(Continued)PAGESTATISTICALSECTION(Continued)DebtCapacity(Continued)RatioofGeneralBondedDebtOutstandingandLegalDebtMargin70DirectandOverlappingGovernmentalActivitiesDebt71Pledged-RevenueCoverage72DemographicandEconomicInformationDemographicandEconomicStatistics73PrincipalEmployers74OperatingInformationFull-TimeTownEmployeesbyFunction/Program75OperatingIndicatorsbyFunction/Program76CapitalAssetStatisticsbyFunction/Program77COMPLIANCESECTIONSingleAuditIndependentAuditors’ReportonInternalControlOverFinancialReportingandonComplianceandOtherMattersBasedonanAuditofFinancialStatementsPerformedinAccordancewithGovernmentAuditingStandards78-79IndependentAuditors’ReportonCompliancewithRequirementsApplicabletoEachMajorProgramandonInternalControlOverComplianceinAccordancewith0MBCircularA-13380-81ScheduleofFindingsandQuestionedCosts82-84IndependentAuditors’ReportonScheduleofExpendituresofFederalAwards85ScheduleofExpendituresofFederalAwards86NotestoScheduleofExpendituresofFederalAwards87CorrectiveActionPlan88StateComplianceLocalHighwayFinanceReport89-90iv
TOWNOFESTESPARKLISTOFPRINCIPALOFFICIALSTOWNGOVERNMENTTheTownofEstesParkisgovernedbyaMayorandasix-memberBoardofTrustees.TheMayorandTrusteesareelectedforfour-yearterms.TheTrusteeseachhaveonevoteintownboardmeetings.TheMayorhasthefinalvoteonallissuesincaseofatie.ListedbelowaretheTownofficialsandprincipalstaffmembersasofDecember31,2008.MayorElected2008BillPinkhamTrusteesElected2008ChuckLevineElected2006EricBlackhurstElected2006DorIaEisenlauerElected2006RichardHomeierElected2008JohnEricsonElected2008JerryMillerStaffTownAdministratorJacquelineHalburntDeputyTownAdministratorLowellRichardsonTownAttorneyGregWhiteTownClerkJackieWilliamsonFinanceOfficerSteveMcFarlandDirectorofUtilitiesRobertGoehringDirectorofPublicWorksScoffZurnChiefofPoliceWesKufeldDirectorofCommunityDevelopmentRobertJosephDirectorofBusinessDevelopmentThomasPickeringMuseumDirectorBettyKilsdonkMunicipalJudgeGaryBrownFireChiefScoffDormanV
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CertificateofAchievementforExcellenceinFinancialReportingPresentedtoTownofEstesParkColoradoForitsComprehensiveAnnualfinancialReportfortheFiscalYearEndedDecember31,2007ACertificateofAchievementforExcellenceinFinancialReportingispresentedbytheGovernmentFinanceOfficersAssociationoftheUnitedStatesandCanadatogovernmentunitsandpublicemployeeretirementsystemswhosecomprehensiveannualfinancialreports(CAFRs)achieve(liehigheststandardsingovernmentaccountingandfinancialreporting.tHPresident•%-ExecutiveDirectorvJ1
‘TOWNOffSIfSPARI(June23,2009To:TheHonorableMayor,MembersoftheGoverningBody,andCitizensoftheTownofEstesPark,Colorado:TheComprehensiveAnnualFinancialReport(CAFR)oftheTownofEstesPark,Colorado(theTown)forthefiscalyearendedDecember,31,2008,isherebysubmitted.Responsibilityforboththeaccuracyofthedataandthecompletenessandtairnessofthepresentation,includingalldisclosures,restswiththeTown.Tothebestofourknowledgeandbelief,theencloseddataareaccurateinallmaterialrespectsandarereportedinamannerdesignedtopresentfairlythefinancialpositionandresultsofoperationsofthevariousfundsandaccountgroupsoftheTown.AlldisclosuresnecessarytoenablethereadertogainanunderstandingoftheTown’stinancialactivitieshavebeenincluded.ThisreportincludesallTownfunds.TheTownprovidesafullrcingeofservices,includingpoliceandfireprotection,electricandwaterutilityservices,theconstructionandmaintenanceofhighways,streets,andinfrastructure,businessdevelopment,recreationalactivitiesandculturalevents.Inadditiontogeneralgovernmentactivities,theTownBoardhassignificantoperationaland/orfinancialrelationshipswiththeEslesParkUrbanRenewalAuthorityandtheEstesParkBuildingAuthority;therefore,theseactivitiesareincludedinthereportingentityasblendedcomponentunits.ProfileoftheGovernmentTheTownofEstesPark,incorporatedin1917,isaresortcommunitynestledintheRockyMountainfoothills65milesnorthwestofDenver,Colorado.TheTownisattheentrancetoRockyMountainNationalPerkandisvisitedbyapproximatelythreemillionpeopleeachyear.RockyMountainNationalParkhasbeenthenumberonetouristattractionintheStateofP.O.BOX1200•170MACGREGORAVENUE•ESTESPARK,COLORADO80517viiiPHONE:970-586-5331•FAX970-577-3573www.estesnet.com
Coloradoforaslongasrecordshavebeencompiled.TourismistheTown’smainindustry;therefore,theTown’sfacilitiesaregearedforalargeseasonalusageinthesummermonths.TheTownatEstesParkcurrentlyoccupiesalandareaofsixsquaremilesandservesanestimatedpopulationof5,413(2000census).TheTownisempoweredtolevyapropertytaxonbothrealandpersonalpropertieslocatedwithinitsboundaries.Itisalsoempoweredtoextenditscorporatelimitsbyannexation,whichoccursperiodicallywhendeemedappropriatebythegoverningbody.TheTownhasoperatedundertheboard-administratorformofgovernmentsince1968.Policy-makingandlegislativeauthorityarevestedinthegoverningboardconsistingoftheMayorandsixTrustees.Thegoverningboardisresponsible,amongotherduties,forpassingordinances,adoptingthebudget,appointingcommittees,andhiringtheTownAdministrator.TheTownAdministratorisresponsibleforcarryingoutthepoliciesandordinancesofthegoverningbody,andforoverseeingtheday-to-dayoperationsofthegovernment.Theboardiselectedonanon-partisanbasis.Boardmembersservefour-yearstaggeredterms,withthreetrusteeselectedeverytwoyears.TheMayoriselectedtoserveafour-yearterm.Allofficesareelectedatlarge.Electedofficialsatelimitedtotwoconsecutivetermsofoffice.TheTownprovidesafullrangeofservicesincludingpolicecindtireprotection,theconstructionandmaintenanceofstreet,pathwaysandotherintrastructure,businessdevelopment,andrecreationalactivitiesandculturalevents.AwaterutilityandanelectricdistributionutilityareprovidedbytheTown.Anurbanrenewalagency(EPURA)operatesasalegallyseparateauthority,whichfunctionsinessenceasadeportmentoftheTown,andthereforehasbeenincludedasanintegralportoftheTown’sfinancialstatements.TheTownisalsofinanciallyaccountableforanotherlegallyseparateentity,theEstesParkBuildingAuthority,whichprovidesfinancingforgolfcourseimprovements.AdditionalinformationontheseentitiescanbefoundinNote1intheNotestotheFinancialStatements.TheannualbudgetservesasthefoundationfortheTown’sfinancialplanningandcontrol.AlldepartmentsoftheTownarerequiredtosubmitrequestsannuallyforappropriationtotheTown’sdesignatedbudgetotficerbythethirdweekofAugust.Thebudgetofficerusestheserequestsasthestartingpointfordevelopingaproposedbudget.ThebudgetofficerthenpresentsthisproposedbudgettotheTownAdministratorforreviewandamendment.ThebudgetispresentedtotheTownBoardfor____deliberationinOctober.Theboardisrequiredtoholdpublichearingsonix_____
theproposedbudgetandtoformallyadoptthebudgetbeforeDecember]5thThisdatealsoservesasthedeadlinetocertifythemilllevythatwillbeassessedbytheTowntotheLarimerCountyCommissioners.Theappropriatedbudgetispreparedbyfund,function(e.g.,publicsafetyanddepartment(e.g.,tireprotection).Budget-to-actualcomparisonsareprovidedinthisreportoreachindividualtundforwhichanappropriatedannualbudgethasbeenadopted.Forthegeneralfund,thiscomparisonispresentedaspartofthebasicfinancialstatementsforthegovernmentalfunds.Forgovernmentalfunds,otherthanthegeneralfund,withappropriatedannualbudgets,thiscomparisonispresentedbehindthefootnotesinthisreport.FactorsAffectingFinancialConditionTheinformationpresentedinthefinancialstatementsisperhcipsbestunderstoodwhenitisconsideredfromthebroaderperspectiveofthespecificenvironmentwithinwhichtheTownoperates.LocaleconomyIn2008,theTownexperiencedamodestdeclineinthepredominantlocalindustry,tourism.Akeylocaleconomicindicator,taxablesales,decreasedby$1,247,925,or0.7%,in2008.Whilethenationalunemploymentrateincreasedin2008from4.6%to5.8%,Colorado’sunemploymentrateincreasedfrom3.8%to4.9%.longtermfinancialplanningTheCapitalImprovementPlan(CIP)istheTown’sprimaryfinancialroadmap.Bothforeseeingandflexible,theCIPforecastsimprovementprojectsandcashtiowintheTown’smajorfundsforthenext5-7years.TheCIPwillalowforacombinationoflong-termcashmanagementcoupledwithanorderlyaddressingoftheevolvingneedsoftheEstesParkommunity.InfrastructureimprovementshavebegunatStanleyParkwiththeintentionofupgradingtheFairgroundscomplexsoastootteranimprovedandwiderarrayofamenitiesandfacilitiesforappropriatefunctionsandevents.TheFishCreekTrailprojectcompleteda3.5-mileconcreteconnectionbetweenthelocalschoolcampusandtheCarriageHillsPondstothesouth.Thescenic10’widetrailfollowsFishCreekRoadandcreatesa____loopwhenitreachesHighway7.Thetrailsystemoffersdramaticallyx
improvedrecreationalopportunitiesaswellassaferaccesstotcitizensutilizingtheopenareasalongFishCreekRoad.A100-footconnectionportionofthistrailwasconstructedin2008.In2003,workbeganonextendingFallRivetTrail(Phase4).Constructionin2008added3,500feettothe8-footwideconcretecorridorextensionatthewestendofTown.TheobjectiveistoconnectdowntownEstesParkwithRMNPatitsnorthentrance;FallRiverVisitorsCenter.Lessthan3milesofconstructionremainsonthe5.0-milelongtrail.OtherintrastructureimprovementsincludedtherepavingoftheVirginiaandWiestparkinglots,andStanleyAvenueandCragsDrive.AreinforcementwallwasconstructedattheVirginiaDrivealley.TheTownutilizesasoftwareprogramthatanalyzestherateofdeteriorationofTownstreetsandprioritizesrepairs/upgrades;thesoftware(MicroPaver)wasupdatedin2008.ThemostvisibleinfrastructureimprovementwascompletedatthedowntownintersectionofRiversideandElkhornAvenues,whereacontinuousrightturnlanewasaddedfromRiversideontoElkhornAve.NewCDOItrafficsignalpoleswerealsoadded,aswereparkinglotplanterboxesandanewsidewalk.RiverbankimprovementsweremadewheretheBigThompsonRiverpassestheConventionandVisitorsBureaubuilding.AttheotherendofTown,landscapingandtablesupgrades/improvementsweremadeatTregentPark.TheTownHallbuildingwasotiginallyconstructedin1929astheregion’sonlyschool.In1973itwaspurchasedbytheTown,followingtheschool’sgrowthandrelocation.Thefacilityhasreceivedmanyfacelittsandmodernizationsthroughouttheyears.TheTownrecognizestheimportanceof,andiscommittedtowards,“goinggreen”whenfeasible.In2008,theTownengagedinanenergyefficientlightingprograminconjunctionwithPlatteRiverPowerAuthority.TownHallreceivedatotallightingretrofitwhicheffectivelyreducedelectricityconsumptionforlightingby30%.TownHallitselfwasconvertedtooperatingoffofrenewable(solar)energy.TheTownalsobegana“netmetering”program,wherecitizensareabletopartakeinrenewableenergyprograms.ThefirsthybridvehiclewasalsoaddedtotheTown’stleet.Asandstoragetentforwinterroadmaintenance,aswellasancircurtainburner(designedtoburnproductinanenvironmentally-friendlymanner),werepurchasedin2008.Lookingforward,theTowngeneratedanREPfor____theProspectMountainSEStormWaterMasterPlan.TheTownwillalsobe_______xi_____
undertakingaProspectAvenuesurveyanddesignproject(forfutureroadwayimprovements).TheTownisalsoveryconcerned,andpreparedtoactincoordinationwith,otherpublic/privateentitiesinanefforttomitigatethepinebeetleblightThatismovingeastwardovertheContinentalDivide.CashmanagementpoliciesandpracticesCashtemporarilyidleduringtheyearwasinvestedincertificatesofdeposit,obligationsoftheU.S.treasury,localgovernmentinvestmentpools,andagenciesandinstrumentalitiesoftheUnitedStates.TheTown’sfundsallocatedasinvestmentsdecreasedfrom$25.2millionin2007to$24.4millionin2008.Themajorfactorresponsibleforsaiddecreasewasthedrawdownontheproceedsfromthe2007Light&Powerbondissuance,decreasingfrom$6.1millionto$2.0million,astheprojectmaturedtowardscompletionthroughout2008.Onthepositivesideoftheledger,investmentEPURAfundsincreasedin2008,trom$350,000to$900,000.TheUSequityenvironmentsufferedprecipitoussetbacksin2008.Majorindices(DowJonesIndustrialAverage,Standard&Poors500,Nasdaq)declined32-40%in2008.AlthoughtheTowndoesnotengageinequityinvestmentstrategies(withtheexceptionoflimitedportionsoftheFirePensionFund),EstesParkwasdirectlyaftectedbythedeclineininterestratespaidthroughmunicipalmoneymarketpools.Theannualyielddecreasedfrom4.76%to1.21%overthecourseof2008,whichforcedadownwardrevisioninbudgeted(andactual)investmentincome.Thematurityoftheinvestmentsrangesfromovernighttofiveyears.Investmentincomeincludesappreciationinthefairvalueoftheinvestments.Increasesinthefairvalueduringthecurrentyeardonotnecessarilyrepresenttrendsthatwillcontinue;norisitalwayspossibletorealizesuchamounts,especiallyinthecaseoftemporarychangesinthefairvalueofinvestmentsthattheTownintendstoholdtomaturity.RiskmanagementTheobjectivesoftheTown’sriskmanagementprogramistominimizeriskandprotectagainstloss,whichcouldsignificantlyaffectthepublic,personnel,property,budget,ortheabilityoftheTowntofulfillitsresponsibilities.Potentiallyhazardousriskexposuresareevaluatedonanongoingbasisandreducedofeliminatedwherefeasibleandcost____etfecfive.Ixii_____
TheTownisamemberoftheColoradoIntergovernmentalRiskSharingAgency(CIRSA),aseparateandindependentgovernmentalandlegalentityformedbyintergovernmentalagreementbymembermunicipalitiespursuanttoStatestatute.CIRSAdefendsandindemnifiestheTownagainsttherisksoflossrelatedtotorts;theftof,damageto,anddestructionofassets,errorsandomissions,injuriestoemployees,andnaturaldisasters.TheTownispartiallyself-insuredforhealthinsurancetoeligibleemployeesanddependents.TheinsurancecoverageforworkerscompensationiscarriedbyPinnacolAssurance.TheTownalsomaintainsaseparateinternalservicefund,theCatastrophicLossFund,tobeusedintheeventofdisastersnotcovetedbyotherinsurance.UnrestrictednetassetsinthisfundonDecember31,2008were$1,833,605.BudgetarycontrolsTheTownmaintainsbudgetarycontrols,theobjectiveofwhichistoensurecompliancewithlegalprovisionsembodiesintheannualappropriatedbudgetapprovedbytheTownBoard.Thelevelofbudgetarycontrols(thelevelatwhichexpenditurescannotlegallyexceedtheappropriatedamount)isestablishedbyfund.TheTownalsomaintainsanencumbranceaccountingsystemsasabudgetarycontroltopreventexpendituresfromexceedinglegalappropriations.Encumberedamountslapseatfiscalyear-end,andqualifyingencumbrancesare(ormallyappropriatedinthefollowingyearwhennecessary.AwardandacknowledgementsTheGovernmentFinanceOfficersAssociation(GFOA)awardedaCertificateofAchievementforExcellenceinFinancialReportstotheTownforitscomprehensiveannualfinancialreport(CAFR)forthefiscalyearendedDecember31,2007.InordertobeawardedaCertificateofAchievement,thegovernmentpublishedaneasilyreadableandefficientlyorganizedCAFR.ThisreportsatisfiedbothGAAPandapplicablelegalrequirements.ACertificateofAchievementisvalidforaperiodofoneyearonly.WebelievethatourcurrentCAFRcontinuestomeettheCertificateofAchievementProgram’srequirementsandwearesubmittingittotheGFOAtodetermineitseligibilityforanothercertificate.Thesuccessfulpreparationofthisreportonatimelybasiscouldnothavebeenaccomplishedwithoutthededicationandeffortsoftheentirestaff____oftheFinanceDepartment:JimAllen,SammiColeson,CarolHillerson,xlii
aDebbieMcDougafl,LorraineMcCown,AmyMitterer,DebbieParrack,andAmySpallinger.Wewouldliketoexpressoutsincereappreciationtoallmembersofthedepartmentforthecontributionsmadeinthepreparationofthisreport.SpecialthanksareextendedtotheaccountingfirmofSwanhorsi&CompanyLLCfortheirprofessionalismintheperformanceoftheindependentauditfortheTown.WealsowishtoextendappreciationtotheMayor,theTrustees,andtheTownAdministratorfortheireffortsandsupportinsettingandadministeringpoliciestottheprudentfinancialmanagementoftheTownofEstesPark.Sincerely,SteveMcFarland—FinanceOfficer
FINANCIALSECTION
(ertifidPubticAccount,ntHonorableMayorandMembersoftheBoardofTrusteesTownofEstesParkEstesPark,ColoradoINDEPENDENTAUDITORS’REPORTWehaveauditedtheaccompanyingfinancialstatementsofthegovernmentalactivities,thebusiness-typeactivities,eachmajorfund,andtheaggregateremainingfundinformationoftheTownofEstesParkasofandfortheyearendedDecember31,200$,whichco]lectivelycomprisethebasicfinancialstatementsoftheTownofEstesPark,aslistedinthetableofcontents.ThesefinancialstatementsaretheresponsibilityoftheTownofEstesPark’smanagement.Ourresponsibilityistoexpressopinionsonthesefinancialstatementsbasedonouraudit.WeconductedourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmericaandthestandardsapplicabletofinancialauditscontainedinGovernmentalAuditingStandards,issuedbytheComptrollerGeneraloftheUnitedStates.Thosestandardsrequirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatement.Anauditincludesexamining,oiiatestbasis,evidencesupportingtheamountsanddisclosuresinthefinancialstatements.Anauditalsoincludesassessingtheaccountingprinciplesusedandsignificantestimatesmadebymanagement,aswellasevaluatingtheoverallfinancialstatementpresentation.Webelievethatourauditprovidesareasonablebasisforouropinions.Inouropinion,thefinancialstatementsreferredtoabovepresentfairly,inallmaterialrespects,therespectivefinancialpositionofthegovernmentalactivities,thebusiness-typeactivities,eachmajorfund,andtheaggregateremainingfundinformationoftheTownofEstesPark,asofDecember31,2008,andtherespectivechangesinfinancialpositionandcashflows,whereapplicable,fortheyearthenendedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.AsdiscussedinNote10tothetinancialstatements,theTownofEstesParkadoptedthestandardsofGovernmentalAccountingStandardsBoardStatementNo.45,AccountingandfinancialReportingbyEmployersforPostemplovmentBenefitsOtherThanPensions,fortheyearendedDecember31,2008.Themanagement’sdiscussionandanalysisandrequiredsupplementaryinformationlistedinthetableofcontentsarenotarequiredpartofthebasicfinancialstatementsbutarcsupplementaryinformationrequiredbytheGovernmentalAccountingStandardsBoard.Wehaveappliedcertainlimitedprocedures,whichconsistedprincipallyofinquiriesofmanagementregardingthemethodsofmeasurementandpresentationofthesupplementaryinformation.However,wedidnotaudittheinformationandexpressnoopiniononit.inaccordancewithGovernmentAuditingStandards,wehavealsoissuedourreportdatedJuly7,2009,onourconsiderationoftheTownofEstesPark’sinternalcontroloverfinancialreportingandonourtestsofitscompliancewithcertainprovisionsoflaws,regulations,contracts,grantagreementsandothermatters.Thepurposeofthatreportistodescribethescopeofourtestingofinternalcontroloverfinancialreportingandcomplianceandtheresultsofthattesting,andnottoprovideanopinionontheinternalcontroloverfinancialreportingoroncompliance.ThatreportisanintegralpartofanauditperformedinaccordancewithGovernmentAuditingStandardsandshouldbeconsideredinassessingtheresultsofouraudit.$400E.CrescentParkwaySuite600•GreenwoodVillage,CO$0111(720)528-4306Fax:(720)528-4307
OurauditwasconductedforthepurposeofformingopinionsonthefinancialstatementsthatcollectivelycomprisetheTownofEstesPark’sbasicfinancialstatements.Thecombiningandindividualfundfinancialstatementsandschedulesandlocalhighwayfinancereportlistedinthetableofcontentsarepresentedforpurposesofadditionalanalysisandarenotarequiredpartofthebasicfinancialstatements.Suchinformationhasbeensubjectedtotheauditingproceduresappliedintheauditofthebasicfinancialstatementsand,inouropinion,isfairlystatedinallmaterialrespectsinrelationtothebasicfinancialstatementstakenasawhole.Theintroductoryandstatisticalsectionslistedinthetableofcontentshavenotbeensubjectedtotheauditingproceduresappliedintheauditofthebasicfinancialstatements,andaccordingly,weexpressnoopiniononthem.July7,2009
Management’sDiscussionandAnalysisAsmanagementoftheTownofEstesPark(Town),weofferreadersoftheTown’sfinancialstatementsthisnarrativeoverviewandanalysisofthefinancialactivitiesoftheTownforthefiscalyearendedDecember31,2008.FinancialHighlights•TheassetsoftheTownexceededitsliabilitiesatthecloseofthemostrecentfiscalyearby$93,384,877(netassets).Ofthisamount,$22,908,189(unrestrictednetassets)maybeusedtomeetthegovernment’songoingobligationstocitizensandcreditors.•TheTown’stotalnetassetsincreasedby$2,288,692.GASB34requiresreportingofinfrastructureassetsatfairmarketvalue.Valueswereobtainedandrecordedduringthe2005fiscalyear.•Atthecloseofthecurrentfiscalyear,theTown’sgovernmentalfundsreportedcombinedendingfundbalancesof$8,668,315,anincreaseof$1,106,366incomparisonwith2007.Approximately99.6%ofthistotalamount,$8,640,685,isavailableforspendingatthegovernment’sdiscretion(unreserved,undesignatedfundbalance).•Attheendofthecurrentfiscalyear,unreserved,undesignatedfundbalanceforthegeneralfundwas$4,622,401,or60.6%oftotalgeneralfundexpenditures.Thisisanincreasefrom51.6%in2007.•TheTown’stotalnon-currentliabilitiesincreasedby$3,657,555to$14,378,260,duringthecurrentfiscalyear.Thiswasduetotheadditionofthe2008AWaterLoanfromtheColoradoWaterResources&PowerDevelopmentAuthorityforthepurposeofupgradingandincreasingcapacityattheTown’sWaterTreatmentPlantfacilities.•TheTownloanedtheEstesParkHousingAuthority$2,700,000in2006.TheloanisdueinfullbyJune1,2010.Theloanwasfundedasfollows:$950,000fromtheGeneralFund,$550,000fromtheLightandPowerFund,$450,000fromWaterFund,and$750,000fromtheCatastrophicLossFund.AsofDecember31,2008,theGeneralFundhasbeenrepaid,andatotalof$1,179,999remainedoutstandingandduetotheremainingthreefunds.OverviewoftheFinancialStatementsThisdiscussionandanalysisareintendedtoserveasanintroductiontotheTown’sbasicfinancialstatements.TheTown’sbasicfinancialstatementsarecomprisedofthreecomponents:1)government-widefinancialstatements,2)fundfinancialstatements,and3)notestothefinancialstatements.Thisreportalsocontainsothersupplementaryinformationinadditiontothebasicfinancialstatementsthemselves.a
Government-widefinancialstatements.Thegovernment-widefinancialstatementsaredesignedtoprovidereaderswithabroadoverviewoftheTown’sfinances,inamannersimilartoaprivate-sectorbusiness.ThestatementofnetassetspresentsinformationonalloftheTown’sassetsandliabilities,withthedifferencebetweenthetworeportedasnetassets.Overtime,increasesordecreasesinnetassetsmayserveasausefulindicatorofwhetherthefinancialpositionoftheTownisimprovingordeteriorating.Thestatementofactivitiespresentsinformationshowinghowthegovernment’snetassetschangedduringthemostrecentfiscalyear.Allchangesinnetassetsarereportedassoonastheunderlyingeventgivingrisetothechangeoccurs,regardlessofthetimingofrelatedcashflows.Thus,revenuesandexpensesarereportedinthisstatementforsomeitemsthatwillonlyresultincashflowsinfuturefiscalperiods(e.g.,uncollectedtaxesandearnedbutunusedvacationleave).Bothofthegovernment-widefinancialstatementsdistinguishfunctionsoftheTownthatareprincipallysupportedbytaxesandintergovernmentalrevenues(governmentalactivities)fromotherfunctionsthatareintendedtorecoverallorasignificantportionoftheircoststhroughuserfeesandcharges(business-typeactivities).ThegovernmentalactivitiesoftheTownincludegeneralgovernment,publicsafety,publicworks,andcultureandrecreation.Thebusiness-typeactivitiesoftheTownincludeanelectricdistributionoperation(lightandpowerfund)andawaterutilitythattreatsanddistributesunderthewaterfund.Thegovernment-widefinancialstatementsincludenotonlytheTownitself(knownastheprimarygovernment),butalsothelegallyseparateentities,EstesParkUrbanRenewalAuthority(EPURA)andEstesParkBuildingAuthority.Financialinformationforthesecomponentunitsisreportedwiththefinancialinformationpresentedfortheprimarygovernment,asblendedcomponentunits.EPURAissuesseparatefinancialstatements,whereastheBuildingAuthoritydoesnot.Fundfinancialstatements.Afundisagroupingofrelatedaccountsthatisusedtomaintaincontroloverresourcesthathavebeensegregatedforspecificactivitiesorobjectives.TheTown,likeotherstateandlocalgovernments,usesfundaccountingtoensureanddemonstratecompliancewithfinance-relatedlegalrequirements.AllofthefundsoftheTowncanbedividedintothreecategories:governmentfunds,proprietaryfunds,andfiduciaryfunds.Governmentalfunds.Governmentalfundsareusedtoaccountforessentiallythesamefunctionsreportedasgovernmentalactivitiesinthegovernment-widefinancialstatements.However,unlikethegovernment-widefinancialstatements,governmentalfundfinancialstatementsfocusonnear-terminflowsandoutflowsofspendableb
resources,aswellasonbalancesofspendableresourcesavailableattheendofthefiscalyear.Suchinformationmaybeusefulinevaluatingagovernment’snear-termfinancingrequirements.Becausethefocusofgovernmentalfundsisnarrowerthanthatofthegovernment-widefinancialstatements,itisusefultocomparetheinformationpresentedforgovernmentalfundswithsimilarinformationpresentedforgovernmentalactivitiesinthegovernment-widefinancialstatements.Bydoingso,readersmaybetterunderstandthelong-termimpactofthegovernment’snear-termfinancingdecisions.Boththegovernmentalfundbalancesheetandthegovernmentalfundstatementofrevenues,expenditures,andchangesinfundbalancesprovideareconciliationtofacilitatethiscomparisonbetweengovernmentalfundsandgovernmentalactivities.TheTownmaintains12individualgovernmentalfunds.Informationispresentedseparatelyinthegovernmentalfundbalancesheetandinthegovernmentalfundstatementofrevenues,expenditures,andchangesinfundbalancesfortheGeneralFund,theConventionandVisitorsBureauFund,andtheUrbanRenewalAuthorityCapitalandDebtServiceFunds,allofwhichareconsideredtobemajorfunds.Datafromtheother8governmentalfundsarecombinedintoasingle,aggregatedpresentation.Individualfunddataforeachofthesenon-majorgovernmentalfundsisprovidedintheformofcombiningandindividualfundstatementsandscheduleselsewhereinthisreport.TheTownadoptsannualappropriatedbudgetsforallfunds.Budgetarycomparisonscheduleshavebeenpresentedforallfunds(exceptfiduciaryfunds)todemonstratecompliancewiththebudgets.Proprietaryfunds.TheTownmaintainstwodifferenttypesofproprietaryfunds.Enterprisefundsareusedtoreportthesamefunctionspresentedasbusiness-typeactivitiesinthegovernment-widefinancialstatements.TheTownusesenterprisefundstoaccountforitselectricandwaterutilities.InternalservicefundsareanaccountingdeviceusedtoaccumulateandallocatecostsinternallyamongtheTown’svariousfunctions.TheTownusesinternalservicefundstoaccountforitsFleetMaintenanceFund,VehicleReplacementFund,CatastrophicLossFund,HealthInsuranceFund,andInformationTechnologyFund.Becausetheseinternalservicespredominantlybenefitgovernmentalandbusiness-typefunctions,theyhavebeenallocatedbetweenthegovernmentalandbusiness-typeactivitiesinthegovernment-widefinancialstatements.Proprietaryfundsprovidethesametypeofinformationasthegovernment-widefinancialstatements,onlyinmoredetail.TheproprietaryfundfinancialstatementsprovideseparateinformationfortheWaterandLight&PowerfundsbothofwhichareconsideredtobemajorfundsoftheTown.Conversely,allfiveinternalservicefundsarecombinedintoasingle,aggregatepresentationintheproprietaryfundfinancialC
statements.Individualfunddatafortheinternalservicefundsisprovidedintheformofcombiningstatementselsewhereinthisreport.Fiduciaryfunds.Fiduciaryfundsareusedtoaccountforresourcesheldforthebenefitofpattiesoutsidethegovernment.Fiduciaryfundsarenotreflectedinthegovernment-widefinancialstatementsbecausetheresourcesofthosefundsarenotavailabletosupporttheTown’sownprograms.Theaccountingusedforfiduciaryfundsismuchlikethatusedforproprietaryfunds.Notestothefinancialstatements.Thenotesprovideadditionalinformationthatisessentialtoafullunderstandingofthedataprovidedinthegovernment-wideandfundfinancialstatements.Thenotestothefinancialstatementscanbefoundimmediatelyfollowingthebasicfinancialstatements.Otherinformation.Inadditiontothebasicfinancialstatementsandaccompanyingnotes,thisreportalsopresentscertainrequiredsupplementalinformationconcerningtheTown’sprogressinfundingitsobligationtoprovidepensionbenefitstoitsemployees,andbudgetarycomparisonschedulesforthegeneralandmajorspecialrevenuefunds.Thecombiningandindividualfundstatementsandschedulesreferredtoearlierinconnectionwithnon-majorgovernmentalfundsandinternalservicefundsarepresentedimmediatelyfollowingtherequiredsupplementaryinformation.Government-widefinancialanalysisTownofEstesParksNetAssetsLongtermliabilitiesOtherliabilitiesTotalliabilitiesInvestedincapitalassets,netofrelateddebtRestrictedUnrestrictedTotalnetassetsGovernmentalActivities20082007225,761297,8011,688,9543,504,9821,914,7153,802,78343,143,61143,547,869698,5992,092,07112,029,73510,030,682$55,871,945$55,670,622Business-typeActivities2008200712,874,6218,181,4463,576,0042,403,01416,450,62510,584,46025,615,44323,789,5340011,897,48911,636,029$37,512,932$35,425,563Currentandotherassets$14,555,049$14,661,685$20,937,492$19,660,612Capitalassets43,231,61144,811,72033,026,06526,349,411Totalassets57,786,66059,473,40553,963,55746,010,023Total20082007$35,492,541$34,322,29776,257,67671,161,131111,750,217105,483,42813,100,3828,479,2475,264,9585,907,99618,365,34014,387,24368,759,05467,337,403698,5992,092,07123,927,22421,666,711$93,384,877$91,096,185d
Asnotedearlier,netassetsmayserveovertimeasausefulindicatorofagovernment’sfinancialposition.InthecaseoftheTown,assetsexceededliabilitiesby$93,384,877atthecloseofthemostrecentfiscalyear.ByfarthelargestportionoftheTown’snetassets(74%)reflectsitsinvestmentincapitalassets(e.g.,land,buildings,machinery,andequipment),lessanyrelatedstill-outstandingdebtusedtoacquirethoseassets.TheTownusesthesecapitalassetstoprovideservicestocitizens;consequently,theseassetsarenotavailableforfuturespending.AlthoughtheTown’sinvestmentinitscapitalassetsisreportednetofrelateddebt,itshouldbenotedthattheresourcesneededtorepaythisdebtmustbeprovidedfromothersources,sincethecapitalassetsthemselvescannotbeusedtoliquidatetheseliabilities.Anadditional2%oftheTown’snetassetsrepresentresourcesthataresubjecttoexternalrestrictionsonhowtheymaybeused.Thebulkofthe2%involvestheproceedsfromtheLight&PowerRevenueBondyettobeaccessedforconstructioncostsofthenewsubstationatMarysLake($4.lmin2008)andupgradingthedistributionsystem($2.Omin2008and2009).Theremainingbalanceofunrestrictednetassets($23,927,224)maybeusedtomeetthegovernment’songoingobligationstocitizensandcreditors.Attheendofthecurrentfiscalyear,theTownisabletoreportpositivebalancesinallthreecategoriesofnetassets,bothforthegovernmentasawhole,aswellasforitsseparategovernmentalandbusiness-typeactivities.Thesamesituationheldtrueforthepriorfiscalyear.TownofEstesParksChangesinNetAssetsGovernmentalActivitiesBusiness-typeActivitiesTotal200820072008200720082007Revenues:ProgramrevenuesChargesforservices$2,730,851$2,360,479$13,821,890$13,023,712$16,552,741$15,384,191Operatinggrants/contributions860,994735,91600860,994735,916Capitalgrants/contributions25,37876,153311,853688,403337,231764,556Generalrevenues:Propertytaxes1,261,9591,134,800001,261,9591,134,800Othertaxes7,798,2587,862,603007,7982587,862,603Other823,749939,9051,208,634822,6762,032,3831,762,581Totalrevenues13,501,18913,109,85615,342,37714,534,79128,843,56627,644,647Expenses:Generalgovernment3,625,0863,420,170003,625,0863,420,170Publicsafety3,717,2263,411,343003,717,2263,411,343Publicworks1,933,3012,197,576001,933,3012,197,576Cultureandrecreation5,022,9944,438,036005,022,9944,438,036Interestonlong-termdebt40,64165,6190040,64165,619Water002,777,5542,687,0002,777,5542,687,000e
Electric009,438,0728,693,9359,438,0728,693,935Totalexpenses14,339,24813,532,74412,215,62611,380,93526,554,87424,913,679IncreaseinnetassetsbeforeTransfers(838,059)(422,888)3,126,7513,153,8562,288,6922,730,968Transfers1,039,3821,030,101(1,039,382)tL030,101)00Increase/decreaseinnetassets201,323607,2132,087,3692,123,7552,288,6922,730,968Netassets-beginning,asrestated*55,670,62255,063,409*35,425,56333,301,80891,096,18588,365,217Netassets-ending$55,871,945$55,670,622$37,512,932$35,425,563$93,384,877$91,096,185TheTown’snetassetsincreased$2,288,693duringthecurrentfiscalyear.Government-widerevenuesincreased4.3%from2007to2008.Governmentalactivities.GovernmentalactivitiesincreasedtheTown’snetassetsby$201,323.TheTown’smajorsourceofrevenueissalestax.Salestaxdecreased$52,494from$7,239,214in2007to$7,186,720in2008.Thistranslatesintogrosssalesof$180,980,350and$179,668,000,respectively.Otherrevenuesincreasedanet$443,827.Whilemanyrevenuesourcessufferedduetoprevailingeconomicconditions,overallrevenueswerebuoyedbyrepaymentoftheEPHAloan.Expensesincreased$806,504from$13,532,744in2007to$14,339,248in2008.PublicsafetyexpensesincreasedduetonewpersonnelandprogramcostsassociatedwiththecreationoftheFireServicesFund.Publicworkcostsdecreasedduetoonetimestreetrepaircostsin2007.CultureandrecreationexpendituresincreasedasaresultofextendedeffortsintheCVB(ConventionandVisitorsBureau)topromoteadvertisingandtourisminthefaceofpotentialeconomicdownturn.Inaddition,expenditureswereincurredineffortstorecognizeenvironmentalresponsibilityandtomovetowards“goinggreen”intheTown’sbuildingsandparks.Business-typeactivities.Business-typeactivities,whichincludetheLight&PowerandWaterfunds,increasedtheTown’snetassetsby$2,087,369.Chargesforservices,grantsandotherincomeyielded$15,342,377.Therewas$12,215,626inexpenses,inthefollowingareas:•Sourceofsupply(purchaseofpower/water):$5,005,000•Purificationofwater:563,000•Distributionofwater/power:2,486,000•Customeraccounts:952,000•Administration/General:1,784,000•Depreciation/Amortization:1,146,000•Otherminorexpenses:280,000f
TheLight&PowerandWaterFundsalsotransferred$1,039,322totheGovernmentalActivities.Inrelationto2007,incomeincreasedthroughchargesforservicesby6.1%($798,178).CostsintheWaterandLight&PowerFundsincreasedby7.3%($834,691)primarilyduetocostsrelatedtovehiclereplacementassessments,andduetoincreaseinpurchasedpowercostsfromPlatteRiverPowerAuthority(PRPA).Costsforoperationscontinuetobecoveredbyrevenuesinaccordancewithpolicy.FinancialAnalysisoftheGovernment’sFundsAsnotedearlier,theTownusesfundaccountingtoensureanddemonstratecompliancewithfinance-relatedlegalrequirements.Governmentalfunds.ThefocusoftheTown’sgovernmentalfundsistoprovideinformationonnear-terminflows,outflowsandbalancesofspendableresources.SuchinformationisusefulinassessingtheTown’sfinancingrequirements.Inparticular,unreservedfundbalancemayserveasausefulmeasureofagovernment’snetresourcesavailableforspendingattheendofthefiscalyear.Asoftheendofthecurrentfiscalyear,theTown’sgovernmentalfundsreportedcombinedendingfundbalancesof$8,668,315,anincreaseof$1,106,366from2007.Approximately99.6%ofthisamountconstitutesunreserved,undesignatedfundbalance,whichisavailableforspendingattheTown’sdiscretion.Theremainderoffundbalanceisreservedtoindicatethatitisnotavailablefornewspendingbecauseithasalreadybeencommittedtoinventories,andtootherprepaidexpenses.TheGeneralFundisthechiefoperatingfundoftheTown.Attheendofthecurrentfiscalyear,unreserved,undesignatedfundbalanceofthegeneralfundwas$4,622,401.Asameasureofthegeneralfund’sliquidity,itmaybeusefultocomparebothunreservedfundbalancetototalfundoperatingexpenditures,includingtransfersout(theratiofor2008is40%).Thegeneralfundincreased$593,322.Actualrevenuesexceededbudgetby$5,493,andbudgetedexpendituresexceededactualexpendituresby$603,714.Savingswererealizedinallfourofthemajorexpenditureareas(generalgovernment-$209,244,publicsafety-$91,745,publicworks-$190,444,cultureandrecreation-$112,281),astheTownmadeeffortstoreducecostsinreactiontothenationalandlocaleconomy.Otherfinancingsourceswere$31,771tothepositive.TheConventionandVisitorsBureausawanincreaseinitsfundbalanceby$10,828,to$150,131.Revenuesslightlytrailedestimates($7,966),butcutsinanticipatedexpendituresof$71,290allowedfundbalancetoendtheyear$63,324higherthanbudget.g
TheEPURAdebtfundexiststopaydebt.Itisfundedbytaxrevenuesandrentalincome.TheEPURAcapitalfundhousestheexpendituresforEPURA’sRiverwalkproject.2008isthelastyearforthecurrentEPURAprogram.AnewurbanrenewalauthoritywasapprovedbytheTownBoardin2002,continuingtheTown’slong-termvisionofeconomicenhancement.Proprietaryfunds.Thetown’sproprietaryfundsprovidethesametypeofinformationfoundinthegovernment-widefinancialstatements,butinmoredetail.TheLight&PowerFundexperiencedafavorableyear—revenuesexceededbudgetby$504,609,whileexpenditureswere$1,155,851underbudget.Nearly$800,000ofthesavingsintheexpenditureswastheresultoflesscapitaloutlayandareductioninsourceofsupplycosts.TheWaterFundhada$4,537,493positivevarianceinregardstobudget.MostofthisinvolvedtimingissuesregardingtheWaterTreatmentPlantcapitalproject,whichshouldbecompletedin2009.OtherfactorsconcerningthefinancesofthesetwofundshavealreadybeenaddressedinthediscussionoftheTown’sbusiness-typeactivities.GeneralFundBudgetaryHighlightsSalestaxrevenuesof$7,186,720trailedforecastsby$46,987.Aspreviouslystated,TotalGeneralFundrevenuesof$11,213,774trailedrevisedbudgetof$11,208,281by$5,493.ThesavingsinexpenditureswasdiscussedindetailintheFinancialAnalysisofGovernmentalFundssection.TransfersoutoftheGeneralfundwere$4,036,445.InadditiontotheannualdispersalstotheMuseum,SeniorCenter,andCVB,2008monieswerealsotransferredtotheCommunityReinvestmentFundandFireServicesFund,aspreviouslydiscussed.Anannualtransferofapproximately$200,000perintergovernmentalagreementisalsomadetotheEstesParkUrbanRenewalAuthority.EndingactualfundbalancefortheGeneralFundof$4,631,244was16%greaterthanbudgetedfundbalance.CapitalAssetandDebtAdministrationCapitalassets.Governmentalactivitiesdepreciablecapitalassetsincreased$1,594,292;thenetincrease(afterdisposal/retirementofcapitalassets)was$1,410,052.Largercapitalpurchasesincluded:•Abuildingtostoresand/salt($13,900)•Astreetsweeper($190,500)•Annualstreetimprovementprogram($156,400)h
•AirCurtainBurners($96,600)•ImprovementstoElkhorn/Riversideintersection($100,500)•ImprovementsandlandscapingtoDairyQueenlot($61,000)•FallRivertrailprogram($287,900)•FishCreektrailprogram($13,100)•Stormdrainagemasterplan($31,300)•Vehicles(5)forfleet($178,200).Business-typecapitalassetsincreased$7,829,004,withanetincreaseof$7,621,858.Thelargestexpendituresinthisareawere:•Garagedoorsforshops($20,000)•Infrastructure,includinglightpoles,streetlights,andundergrounddistributionupgradesatMary’sLakeBridge($356,600)•Transformers($252,600)•Electronicsecuritylocks($36,000)•Vehicles-buckettruck,reeltrailers($243,000)•Equipmentupgrades,includingScadasystem($144,000)•Mary’sLakeSubstationandWaterTreatmentPlantupgradesandmodifications(over$6,700,000).Additionalinfocanbefoundinnotestothefinancialstatementsonpages20-21.Long-termdebt.Scheduleddebtpaymentsweremadeinaccordancewithloanparameters.The2008AWaterLoan(increase/upgradeofwaterplantandcapacity),amountingto$5,494,410,wasaddedtotheTown’sBusiness-Typeactivitiesdebtserviceledger.TheUrbanRenewalAuthority’soutstandinglongtermdebtwaspaidinfullduring2008.TheTownLight&PowerfundmaintainsaratingfromStandard&Poor’sandFitchof“AAA”onitsoutstandingrevenuebonds.In2007,theTownissueda$6,180,000RevenueBondtorelocateandmakeimprovementstotheTown’sLightandPowerfacilities.Constructiononthisprojectisduetobecompletedbytheendof2009.Statestatuteslimittheamountofgeneralobligationdebtagovernmententitymayissueto3%ofitstotalassessedvaluation.ThecurrentdebtlimitationfortheTownis$44,142,190.TheTowncurrentlyhasnooutstandinggeneralobligationdebt.Refertofootnotesonpp.21-24forfurtherinformationondebtstructureandobligations.EconomicFactorsandNetYear’sBudgetsandRates•Theforecasted2009CPIforDenver/Boulderis1.8%.•Taxablesalesdecreasedby$1,247,925down0.7%from2007.
•Majorcapitalinitiativesforthe2009budgetinclude:oStreetoverlayplan($445,000)oFallRiverTrailimprovements($179,000)oContinuedLight&PowersubstationupgradesatMarysLake($2,242,500)oContinuedWatertreatmentplantupgradesatMarysLake($910,734)oVehicles(7)replacedfromVehicleReplacementFund($391,000)•TheTownrecognizesthegeneraldeteriorationoftheeconomyandstandsreadytoreactappropriatelytoanydeviationsinsalestaxreceiptsandotherrevenuesourcesAllofthesefactorsandmanyotherswereconsideredinpreparationfortheTown’sbudgetforthe2009fiscalyear.RequestforinformationThisfinancialreportisdesignedtoprovideageneraloverviewoftheTown’sfinancesforallthosewithaninterestinthegovernment’sfinances.QuestionsconcerninganyoftheinformationprovidedinthisreportorrequestsforadditionalfinancialinformationshouldbeaddressedtotheFinanceDepartment,P.O.Box1200,EstesPark,Colorado,80517.
BASICFINANCIALSTATEMENTS
TOWNOFESTESPARK.COLORADOSTATEMENTOfNETASSETSDecember31,200$PRIMARYGOVERNMENTGOVERNMENTALBUSINESS-TYPEACTIVITIESACTIVITIESTOTALASSETSCashandInvestments$12,897,032$9,468,184522,365,216RestrictedCashandInvestments-6,213,7886,213,788AccountsReceivable252,7032,306,1012,558,804InterestReceivable1,1431,5282,671TaxesReceivable1,119,182-1,119,182Inventories44,609819,438$64,047PrepaidExpenses11,20016,58727,787InternalBalances(1,261,991)1,261,991-NetPensionObligation976.104-976,104NotesReceivable515.067664,9321,179,999BondIssuanceCosts,NetofAccumulatedAmortization-184,943184,943CapitalAssets,NotBeingDepreciated5,727,7795,406,47011,134,249CapitalAssets,NetofAccumulatedDepreciation37,503,83227,619,59565,123,427TOTALASSETS57,786,66053,963,557111,750,217LIABILITIESAccountsPayable465.6072,246,7002,712,307AccruedLiabilities489.224140.483629,707AccruedInterestPayable-102,782102,782CustomerDepositsandAdvances-139.463139,463DeferredRevenues402,821-402,821NoncurrentLiabilitiesDueWithinOneYear331.302946.5761,277,878DueinMoreThanOneYear225.76112,874,62113,100,382TOTALLtABILITIES1.914.71516.450,62518,365,340NETASSETSInvestedinCapitalAssets,NetofRelatedDebt43.143.61125.615,44368.759,054RestrictedforEmergencies563.000-563,000RestrictedforCapitalProjects135.599-135,599Unrestricted12.029.73511,897,48923,927,224TOTALNETASSETSS55,871,945S37,512,932S93,384,877Theaccompanyingnotesareanintegralpartofthefinancialstatements.
TOWNOFESTESPARK,COLORADOSTATEMENTOFACTIVITIESYearEndedDecember31,200$PROGRAMREVENUESCHARGESOPERATINGCAPITALFORGRANTSANDGRANTSANDFUNCTIONS/PROGRAMSEXPENSESSERVICESCONTRIBUTIONSCONTRIBUTIONSPRIMARYGOVERNMENTGovernmentalActivitiesGeneralGovernment$3,625,086S$15,016$201,000$-PublicSafety3,717.226550,8$1-25,378PublicWorks1,933,3014,755339.93$-CultureandRecreation5.022,9941.012,541320.056-InterestonLong-TermDebt40,641---TotalGovernmentalActivities14.339.2482.383.193860.99425,378Business-TypeActivitiesLightandPower9,438,07211.005,740--Water2.777.5542.816.150311,853TotalBusiness-TypeActivities12.215,62613.821.890-311,853TOTALPRIMARYGOVERNMENTS26.554,874516,205.083$860.994$337,231GENERALREVENUESSalesTaxesPropertyTaxesFranchiseTaxesUseTaxesInvestmentIncomeMiscellaneousTRANSFERSTOTALGENERALREVENUESANDTRANSFERSCHANGEINNETASSETSNETASSETS,Beginning,asRestatedNETASSETS,EndingTheaccompanyingnotesareanintegralpartofthefinancialstatements.2
NET(EXPENSE)REVENUEANDCHANGESINNETASSETSPRIMARYGOVERNMENT-GOVERNMENTALBUSINESS-TYPE-ACTIVITIESACTIVITIESTOTALS(2,609,070)$-S(2,609,070)(3,140,967)-(3,140,967)(1,588,608)-(1,588,608)(3,690,397)-(3,690,397)(40,641)-(40,641)(11,069,683)-(11,069,683)-1,567,6681,567,668-350.449350,449-1,918,1171,918,117(11,069,683)1,918,117(9,151,566)7,186,720-7,186,7201,261,959-1,261,959425,244-425,244186,294-186,294480,105526.3511,006,456691,302682.2831,373,5851,039,382(1,039.382)-11.271,006169,25211,440,258201,3232,087,3692,288,69255.670,62235,425.56391,096,185$55,871,945S37,512,932$93,384,877
4TOWNOFESTESPARK.COLORADOBALANCESHEETGOVERNMENTALFUNDSDecember31,2008URBANURBANRENEWALRENEWALCONVENTION!AUTHORITYAUTHORITYVISITOR(CAPITAL(DEBTGENERALBUREAUPROJECTS)SERVICE)ASSETSCashandInvestments$4,163,380$334,845$155,755$1,023,382AccountsReceivable108,48112,078--TaxesReceivable1,098,712--20,470Inventories-16,430--PrepaidExpenditures-8,843-595---TOTALASSETSS=5,379,416$363,948$-155,755$1.043,852LIABILITIESANDFUNDBALANCESLIABILITIESAccountsPayable$205,115S138,887$20,156$-AccruedLiabilities226,88133,732--DeferredRevenues316,17641.198-20,470TOTALLIABILITIES748,172213.81720,15620,470FUNDBALANCESReservedforInventories-16,430-ReservedforPrepaidExpenditures8,843595-Unreserved,ReportedinGeneralFund4,622,401---SpecialRevenueFunds-133,106--CapitalProjectsFunds--135,599-DebtServiceFunds-—-—--1.023,382TOTALFUNDBALANCES4,631,244-150,131135,5991.023,382TOTALLIABILITIESANDFUNDBALANCES$5,379,416$363,948$155,755$1,043,852AmountsReportedforGovernmentalActivitiesintheStatementofNetAssetsareDifferentBecause:Capitalassetsusedingovernmentalactivitiesarenotfinancialresourcesand,therefore,arenotreportedinthefunds.Thenetpensionobligationisnotavailabletopaycurrentexpendituresand,therefore,isnotreportedinthefunds.Internalservicefundsareusedbymanagementtochargethecostsoffleetmaintenance,vehiclereplacement.healthinsurance,andinformationtechnologytoindividualfunds.Aportionoftheassetsandliabilitiesoftheinternalservicefundsareincludedingovernmentalactivitiesinthestatementofnetassets.Long-termliabilities,includingcertificatesofparticipation($88,000)andaccruedcompensatedabsences($429,051),arenotdueandpayableinthecurrentyearand,therefore,arenotreportedinthefunds.NetAssetsofGovernmentalActivitiesTheaccompanyingnotesareanintegralpartofthefinancialstatements.3
OTHERGOVERNMENTALFUNDSTOTAL$2,776,688$8,454,050126,689247,248-1,119,182-16,4301,76211,200$2,905,139$9,848,110$80,971$445,12971,232331,84524,977402,821177,1801,179,795-16,4301,76211,200-4,622,4012,726,1972,859,303-135,599-1,023,3822,727,9598,668,315$2,905,13943,195,687976,1043,548,890(517,051)$55,871,945
TOWNOFESTESPARK.COLORADOSTATEMENTOFREVENUES.EXPENDITURESANDCHANGESINFUNDBALANCESGOVERNMENTALFUNDSYearEndedDecember31,2008URBANURBANRENEWALRENEWALCONVENTION!AUTHORITYAUTHORITYVISITOR(CAPITAL(DEBTGENERALBUREAUPROJECTS)SERVICE)REVENUESTaxesS8.113.581$-$-$946,636LicensesandPermits623,762---Intergovernmental1.558.783---ChargesforServices58.903856.421--FinesandForfeitures55,700---RentalIncome171.575--217.125InvestmentIncome180,3587.556-17,070Miscellaneous451.112148.0443,000-TOTALREVENUES11,213,7741,012.0213,0001,180.831EXPENDITURESCurrentGeneralGovernment2.357,425---PublicSafety2.966.582---PublicWorks1,374,084---CultureandRecreation925,2982,876,193--CapitalOutlay--615,377-DebtServicePrincipal---$95,000InterestandFiscalCharges---—14.544TOTALEXPENDITURES7,623,3892,876,193615,377909.544EXCESSOFREVENUESoVER(UNDER)EXPENDITURES3,590,385(1,864.172)(612,377)271,287OTHERFINANCINGSOURCES(USES)TransfersIn1,039,3821,875.000616,877-TransfersOut(4,036,445)--(616.877)TOTALOTHERFINANCINGSOURCES(USES)(2.997,063)1,875,000616,877(616,877)NETCHANGEINFUNDBALANCES593,32210,8284,500(345,590)FUNDBALANCES,Beginning4.037,922139,303131,099-1,368,972FUNDBALANCES,EndingS4,631,244$150,131$135,599$1,023,382Theaccompanyingnotesareanintegralpartofthefinancialstatements.4
OTHERGOVERNMENTALFUNDSTOTAL$-S9,060,217-623,762289,1951,847,978215,4491,130,773-55,70093,459482,15998,888303,87273,605675,761770,59614,180,222207,3902,564,815588,6633,555,2453691,374,453508,6224,310,113473,1071,088,484297,6751,192,67512,90927,4532,088,73514,113,238(1,318,139)66,9842,161,4455,692,704-(4,653,322)2,161.4451,039,382$43,3061,106,3661,884,6537,561,949$2,727,959$8,668,315
TOWNOFESTESPARK.COLORADORECONCILLATIONOFTHESTATEMENTOFREVENUES.EXPENDITURESANDCHANGESINFUNDBALANCESOFGOVERNMENTALFUNDSTOTHESTATEMENTOFACTIVITIESYearEndedDecember31.2008AmountsReportedforGovernmentalActivitiesintheStatementofActivitiesareDifferentBecause:NetChangeinFundBalancesofGovernmentalFunds$1,106.366Capitaloutlaystopurchaseorbuildcapitalassetsarereportedingovernmentalfundsasexpenditures.However,forgovernmentalactivitiesthosecostsarecapitalizedinthestatementofnetassetsandallocatedovertheirestimatedusefullivesasannualdepreciationexpenseinthestatementofactivities.Thisistheamountbywhichannualdepreciationexpense($3,132,172)exceededcapitaloutlay$l,561.445inthecurrentyear.(1,570,727)Repaymentoflong-termdebtprincipalisanexpenditureinthegovernmentalfunds,buttherepaymentreduceslong-termliabilitiesinthestatementofnetassets.Theseincludepaymentsonbonds$895,000,paymentsoncertificatesofparticipation$$4.000,paymentsoncapitalleases$213,675,andthenetincreaseinaccruedcompensatedabsences($23,032).1,169.643Debtproceedsprovidecurrentfinancialresourcestogovernmentalfunds,butissuingdebtincreaseslong-termliabilitiesinthestatementofnetassets.Thisamountistheneteffectofthesedifferencesinthetreatmentoflong-termdebtandrelateditems:amortizationofbondpremium$10,077,amortizationofbondissuancecosts($16.039),andamortizationofdeferred(16.824)amountonrefunding($10,862).Revenuesinthestatementofactivitiesthatdonotprovidecurrentfinancialresourcesaredeferredinthefunds.(918.500)Someexpensesreportedinthestatementofactivitiesdonotrequiretheuseofcurrentfinancialresourcesand,therefore,arenotreportedasexpendituresingovernmentalfunds.Thisincludesadecreaseinaccruedinterestpayable$3.636andanincreaseinpensioncostsduetothechangeinthenetpensionobligation$49.287.52,923Internalservicefundsareusedbymanagementtochargethecostsoffleetmaintenance,vehiclereplacement,healthinsuranceandinformationtechnology’toindividualfunds.Aportionofthenetincomeoftheinternalservicefundsisreportedwithgovernmentalactivitiesinthestatementofactivities.378.442ChangeinNetAssetsofGovernmentalActivities$201.323Theaccompanyingnotesareanintegralpartofthefinancialstatements.
TOWNOFESTESPARK,COLORADOSTATEMENTOFNETASSETSPROPRIETARYFUNDSDecember31,200$GOVERNMENTALBUSINESS-TYPEACTIVITIESACTIVITIESLIGHTANDINTERNALPOWERWATERTOTALSERVICEASSETSCurrentAssetsCashandInvestments$5,511,554$3,956,630$9,468,184$4,442,982RestrictedCashandInvestments1,964,2494,249,5396,213,788-AccountsReceivable1,968,129337,9722,306,1015,455InterestReceivable8446841,5281,143Inventories700,361119,077$19,43828,179PrepaidExpenses13,9972,59016,587-TOTALCURRENTASSETS10,159,1348,666,49218,825,6264,477,759NoncurrentAssetsNotesReceivable372,764292,168664,932515,067DebtIssuanceCosts,Net133,20851,735184,943-CapitalAssets,NotBeingDepreciated227,4895,178,9815,406,470-CapitalAssets,NetofAccumulatedDepreciation14,524,26113,095,33427,619,59535,924TOTALNONCURRENTASSETS15,257,72218,618,21833,875,940550,991TOTALASSETS25,416,85627,284,71052,701,5665,028,750LIABILITIESCurrentLiabilitiesAccountsPayable1,583,644663,0562,246,70020,478AccruedLiabilities92,77647,707140,48317,113AccruedInterestPayable58,33244,450102,782-CustomerDepositsandAdvances139,463-139,463-InsuranceClaimsPayable---140,266CompensatedAbsences,CurrentPortion$4,94154,465139,40633,393LoansPayable,CurrentPortion-372,170372,170-RevenueBondsPayable,CurrentPortion435,000-435,000-TOTALCURRENTLIABILITIES2,394,1561,181,8483,576,004211,250NoncurrentLiabilitiesCompensatedAbsences36,13721,24457,381-LoansPayable-5,782,2405,782,240-RevenueBondsPayable7,035,000-7,035,000-PostemploymentBenefits-.---6,619TOTALNONCURRENTLIABILITIES7,071,1375,803,48412,874,6216,619TOTALLIABILITIES9,465,2936,985,332-16,450,625217,869NETASSETSInvestedinCapitalAssets,NetofRelatedDebt9,245,99916,369,44425,615,44335,924RestrictedforEmergencies---563,000Unrestricted6,705,5643,929,93410,635,4984,211,957TOTALNETASSETS$15,951,563$20,299,37836,250,941$4,810,881AmountsReportedforBusiness-TypeActivitiesintheStatementofNetAssetsareDifferentBecause:Internalservicefundsareusedbymanagementtochargethecostsoffleetmaintenance,vehiclereplacementhealthinsuranceandinformationtechnologytoindividualfunds.Aportionoftheassetsandliabilitiesoftheinternalservicefundsareincludedinbusiness-typeactivitiesinthestatementofnetassets.1,261,991NetAssetsofBusiness-TypeActivities$-37512,932Theaccompanyingnotesareanintegralpartofthefinancialstatements.
TOWNOfESTESPARK,COLORADOSTATEMENTOFREVENUES.EXPENSESANDCHANGESINFUNDNETASSETSPROPRIETARYFUNDSYearEndedDecember31,2008AmountsReportedforBusiness-TypeActivitiesintheStatementofActivitiesareDifferentBecause:ChangeinNetAssetsofProprietaryFundsInternalservicefundsareusedbymanagementtochargethecostsoffleetmaintenance,vehiclereplacement,healthinsuranceandinformationtechnologytoindividualfunds.Aportionofthenetincomeoftheinternalservicefundsisreportedwithbusiness-typeactivitiesinthestatementofactivities.ChangeinNetAssetsofBusiness-TypeActivities$1.925,180162,189$2.087,369GOVERNMENTALTheaccompanyingnotesareanintegralpartofthefinancialstatements.7BUSINESS-TYPEACTIVITIESACTIVITIESLIGHTANDINTERNALPOWERWATERTOTALSERVICEOPERATINGREVENUESChargesforServices$11,005,740$2,816,150$13,821,890$1,534,040Miscellaneous627,54954,734682,28313,947TOTALOPERATINGREVENUES11,633,2892,870,88414,504,1731,547,987OPERATINGEXPENSESSourceofSupply4,863,285141,4715,004,756Purification-562,742562,742Distribution1,627,730858,2662,485,996-CustomerAccounts655,468296,612952,080-AdministrationandGeneral1,411,420372,8211,784,241756,083DepreciationandAmortization678,207467,7211,145,9289,382HealthBenefits----.
---.
-TOTALOPERATINGEXPENSES-9,236,1102,699,63311,935,7431,183,589OPERATINGINCOME2,397,179171,2512,568,430364,398NONOPERATINGREVENUES(EXPENSES)InvestmentIncome362,755163,596526,351176,233InterestExpense(326,848)(115,224)(442,072)-_—TOTALNONOPERATINGREVENUES(EXPENSES)35,90748,37284,279-176,233NETINCOME(LOSS)BEFORECAPITALCONTRIBUTIONSANDTRANSFERS2,433,086219,6232,652,709540,631CapitalContributions-311,853311,853-TransfersOut(933,705)(105,677)(1,039,382)-CHANGEINNETASSETS1,499,381425,7991,925,180540,631NETASSETS,Beginning,asRestated14,452,18219,873,57934,325,7614,270,250NETASSETS,Ending$15,951,563$20,299,378$36,250,941$4,810,881
TOWNOFESTESPARK,COLORADOSTATEMENTOFCASHFLOWSPROPRIETARYFUNDStncrease(Decrease)inCashandCashEquivalentsYearEndedDecember31,200$GOVERNMENTALBUSINESSTYPEACTIVITIESACTIVITIESLIGHTANDINTERNALPOWERWATERTOTALSERVICECASHFLOWSFROMOPERATINGACTIVITIESCashReceivedfromCustomers$11,041,904$2.831.397$13,873,301$1,538,050CashReceivedfromOtherSources627,54954,734682,2838,947CashPaidtoSuppliers(7,089,048)(1,950,309)(9,039,357)(712,436)CashPaidtoEmployees(1,399,338)(187,311)(1,586,649)(389,714)NetCashProvidedbyOperatingActivities3,181,067748,5113,929,578444,847CASHFLOWSFROMNONCAPITALFINANCINGACTIVITIESTransferstoOtherFunds(933,705)(105,677)(1,039,382)-LoansPaymentsReceived159,236142,532301,768209,733NetCashProvided(Used)byNoncapitalFinancingActivities(774,469)36,855(737,614)209,733CASHFLOWSFROMCAPITALANDRELATEDFINANCINGACTIVITIESPurchasesofCapitalAssets(4,920,510)(2,152,900)(7,073,410)DebtPrincipalPaid(445,000)(250,000)(695,000)DebtInterestandFeesPaid(301,182)(81,847)(383,029)DebtProceeds-5,494,4105,494,410-DebtIssuanceCostsPaid-(51,735)(51,735)CapitalContributionsReceived--311,853311,853NetCashProvided(Used)byCapitalandRelatedFinancingActivities(5,666,692)-3,269,781(2,396,911)CASHFLOWSFROMINVESTINGACTIVITIESInterestReceived364,317164,860529,197198,111NetCashProvidedbyInvestingActivities364,317-164,880529,197198,111NETINCREASE(DECREASE)INCASHANDCASHEQUIVALENTS(2,895,777)4,220,0271,324,250852,691CASHANDCASHEQUIVALENTS,Beginning10,371,5803,986,14214,357,7223,590,291CASHANDCASHEQUIVALENTS,Ending$7,475,803$8,206,169$15,681,972$4,442,982RECONCILIATIONOFOPERATINGINCOMETONETCASHPROVIDEDBYOPERATINGACTIVITIESOperatingIncome$2,397,179$171,251$2,568,430$364,398AdjustmentstoReconcileOperatingIncometoNetCashProvidedbyOperatingActivitiesDepreciation671,196467,7211,138,9179,382Amortization7,011-7,011-LossonDisposalofCapitalAssets13,433-13,433-ChangesinAssetsandLiabilitiesAccountsReceivable19,43015,24734,677(990)Inventories(62,650)(8,763)(71.413)(3,808)PrepaidExpenses(13,124)(471)(13,595)50,810AccountsPayable119,776(81,984)37,792(8.072)AccruedLiabilities(717)181,621180,9044,854CustomerDepositsandAdvances16,734-16,734-InsuranceClaimsPayable---7,958CompensatedAbsences12,7993,88916,6883,696PostemploymentBenefits---6,619TotalAdjustments783,888577,2601,361,14880,449NetCashProvidedbyOperatingActivities$3,181,067$748,511$3,929,578$444,847Theaccompanyingnotesareanintegralpartofthefinancialstatements.
TOWNOFESTESPARK.COLORADOSTATEMENTOFFIDUCIARYNETASSETSDecember31,200$PENSIONTRUSTAGENCYASSETS-Cash$64.751$InvestmentsLocalGovernmentInvestmentPools-454.22$U.S.AgencySecurities364,071-MoneyMarketFunds169.621-MutualFunds-447,390--TOTALASSETS--1,045.833454.228LIABILITIESAccountsPayable415DuetoFriendsofStanleyFlaIl-454,228TOTALLIABILITIES415454,228NETASSETSHeldinTrustforPensionBenefits$1.045.418STheaccompanyingnotesareanintegralpartofthefinancialstatements.9
TOWNOFESTESPARK.COLORADOSTATEMENTOFCHANGESINFIDUCIARYNETASSETSYearEndedDecember31,200$PENSIONTRUSTADDITIONSStateContributions$48,605TownContributions$1,000InvestmentIncome(135,432)TOTALADDITIONS(5,827)DEDUCTIONSPensionBenefitPayments117,775AdministrativeExpenses--$12TOTALDEDUCTIONS-118,587CHANGEINNETASSETS(124,414)NETASSETS,Beginning---1,169,832NETASSETS,Ending$1,045,418Theaccompanyingnotesareanintegralpartofthefinancialstatements.10
TOWNOfESTESPARK,COLORADONOTESTOFiNANCIALSTATEMENTSDecember31,2008NOTE1:SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESTheTownofEstesPark,Colorado(the“Town”)isastatutorymunicipalitygovernedbyacouncil-managerformofgovernmentthroughaMayorandsix-memberBoardofTrusteeselectedbytheresidents.TheaccountingpoliciesoftheTownanditscomponentunitsconformtogenerallyacceptedaccountingprinciplesasapplicabletogovernments.TheGovernmentalAccountingStandardsBoard(GASB)istheacceptedstandard-settingbodyforestablishinggovernmentalaccountingandfinancialreportingprinciples.Followingisasummaryofthemoresignificantpolicies.ReportingEntityInaccordancewithgovernmentalaccountingstandards,theTownhasconsideredthepossibilityofinclusionofadditionalentitiesinitsfinancialstatements.Thedefinitionofthereportingentityisbasedprimarilyonfinancialaccountability.TheTownisfinanciallyaccountablefororganizationsthatmakeupitslegalentity.ItisalsofinanciallyaccountableforlegallyseparateorganizationsifTownofficialsappointavotingmajorityoftheorganization’sgoverningbodyandeitheritisabletoimposeitswillonthatorganizationorthereisapotentialfortheorganizationtoprovidespecificfinancialbenefitsto,ortoimposespecificfinancialburdenson,theTown.TheTownmayalsobefinanciallyaccountablefororganizationsthatarefiscallydependentuponit.Basedontheapplicationofthesecriteria,theTownincludesthefollowingcomponentunitsinitsfinancialstatements.TheE,cte,cParkUrbanRenewalAuthority(EPURA)providesredevelopmentwithintheTownlimits.TheTownBoardofTrusteesappointsthegoverningboardofEPURA.EPURAisblendedintotheTown’sfinancialstatementsbecauseitprovidesservicesexclusivelytotheTown,receivesallofitsfundingfromtheTown,andagreementsbetweentheentitiesrestrictEPURA’sactivitiestothoseapprovedbytheTownBoardofTrustees.EPURAisreportedusingthreefunds,specialrevenue,debtservice,andcapitalprojects.TheEstesParkBuildingAuthority(BuildingAuthority)wasformedtoprovidefinancingforimprovementstotheTown-ownedgolfcourse.TheEstesValLeyRecreationandParkDistrictoperatesthecourseunderamanagementagreement.TheTownBoardofTrusteesappointsthedirectorsoftheBuildingAuthority.TheBuildingAuthorityisreportedasadebtservicefund.CompletefinancialstatementsforEPURAmaybeobtainedbycontactingtheTown’sFinanceDepartmentat170MacGregorAvenue,EstesPark,Colorado80517.TheBuildingAuthoritydoesnotissueseparatefinancialstatements.11
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE1:SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)ReportingEntity(Continued)JointVenture-In1975,theTownjoinedwiththecitiesofFortCollins,Longmont,andLovelandtoestablishthePlatteRiverPowerAuthority(Authority),toprovideelectricalpowerandenergytotheTownandcities.TheAuthorityisgovernedbyaneight-memberBoard.Eachparticipant’sboardappointstwomemberstotheAuthority’sBoard.TheTownhasaresidualinterestintheassetsoftheAuthoritythatmayreverttotheTownupondissolutionoftheAuthority.TheTownhasnoequityinterestintheAuthority.CompletefinancialstatementsoftheAuthoritymaybeobtainedbycontactingthePlatteRiverPowerAuthorityat2000EastHorsetoothRoad,FortCollins,Colorado,80525-5721.Government-WideandFundFinancialStatementsThegovernment-widefinancialstatements(i.e.,thestatementofnetassetsandthestatementofactivities)reportinformationonallofthenonfiduciaryactivitiesoftheTown.forthemostpart,theeffectofinterfundactivityhasbeenremovedfromthesestatements.Exceptionstothisgeneralrulearechargesforinterfundservicesthatarereasonablyequivalenttotheservicesprovided.Governmentalactivities,whichnormallyaresupportedbytaxesandintergovernmentalrevenues,arereportedseparatelyfrombusiness-typeactivities,whichrelytoasignificantextentonfeesandchargesforsupport.Thestatementofactivitiesdemonstratesthedegreetowhichthedirectexpensesofthegivenfunctionorsegmentareoffsetbyprogramrevenues.Directexpensesarethosethatareclearlyidentifiablewithaspecificfunctionorsegment.Programrevenuesinclude1)chargestocustomersorapplicantswhopurchase,use,ordirectlybenefitfromgoods,services,orprivilegesprovidedbyagivenfunctionorsegmentand2)grantsandcontributionsthatarerestrictedtomeetingtheoperationalorcapitalrequirementsofaparticularfunctionorsegment.Taxesandotheritemsnotproperlyincludedamongprogramrevenuesarereportedinsteadasgeneralrevenues.Separatefinancialstatementsareprovidedforgovernmentalfunds,proprietaryfunds,andfiduciaryfunds,eventhoughthelatterareexcludedfromtheTown’sgoverrnnent-widefinancialstatements.Majorindividualgovernmentalandenterprisefundsarereportedasseparatecolumnsinthefundfinancialstatements.MeasurementFocus,BasisofAccounting,andFinancialStatementPresentationThegovernment-widefinancialstatementsarereportedusingtheeconomicresourcesmeasurementfocusandtheaccrualbasisofaccounting,asaretheproprietaryfundandpensiontrustfundfinancialstatements.Theagencyfundutilizestheaccrualbasisofaccounting.Revenuesarerecordedwhenearnedandexpensesarerecordedwhentheliabilityisincurred,regardlessofthetimingofrelatedcashflows.Propertytaxesarerecognizedasrevenuesintheyearforwhichtheyarelevied.Grantsandsimilaritemsarerecognizedasrevenueassoonasalleligibilityrequirementsimposedbytheproviderhavebeenmet.12
4TOWNOfESTESPARK,COLORADONOTESTOHNANCIALSTATEMENTSDecember31,2008NOTE1:SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)Measurementfocus,BasisofAccounting,andFinancialStatementPresentation(Continued)Governmentalfundfinancialstatementsarereportedusingthecurrentfinancialresourcesmeasurementfocusandthemodifiedaccrualbasisofaccounting.Revenuesarerecognizedassoonastheyarebothmeasurableandavailable.Revenuesareconsideredtobeavailablewhentheyarecollectedwithinthecurrentyearorsoonenoughthereaftertopayliabilitiesofthecurrentyear.Forthispurpose,theTownconsidersrevenuestobeavailableiftheyarecollectedwithin60daysoftheendofthecurrentyear.Taxes,grants,andinterestassociatedwiththecurrentyearareconsideredtobesusceptibletoaccrualandsohavebeenrecognizedasrevenuesofthecurrentyear.AllotherrevenuesareconsideredtobemeasurableandavailableonlywhencashisreceivedbytheTown.Expendituresgenerallyarerecordedwhenaliabilityisincurred,asunderaccrualaccounting.However,debtserviceexpenditures,aswellasexpendituresrelatedtocompensatedabsences,arerecordedonlywhenpaymentisdue.Private-sectorstandardsofaccountingandfinancialreportingissuedpriortoDecember1,1989,generallyarefollowedinboththegovernment-wideandproprietary(enterpriseandinternalservice)fundfinancialstatementstotheextentthatthosestandardsdonotconflictwithorcontradictguidanceoftheGovernmentalAccountingStandardsBoard.Governmentsalsohavetheoptionoffollowingsubsequentprivate-sectorguidancefortheirbusiness-typeactivitiesandenterprisefunds,subjecttothissamelimitation.TheTownhaselectednottofollowsubsequentprivate-sectorguidance.Proprietaryfundsdistinguishoperatingrevenuesandexpensesfromnonoperatingitems.Operatingrevenuesandexpensesgenerallyresultfromprovidingservicesandproducinganddeliveringgoodsinconnectionwithaproprietaryfund’sprincipalongoingoperations.Operatingexpensesforenterprisefundsandinternalservicefundsincludethecostofsalesandservices,administrativeexpenses,anddepreciationoncapitalassets.Allrevenuesandexpensesnotmeetingthisdefinitionarereportedasnonoperatingrevenuesandexpenses.Whenbothrestrictedandunrestrictedresourcesareavailableforuse,itistheTown’spracticetouserestrictedresourcesfirst,thenunrestrictedresourcesastheyareneeded.Inthefundfinancialstatements,theTownreportsthefollowingmajorgovernmentalfunds:TheGeneralFundistheTown’sprimaryoperatingfund.ItaccountsforallfinancialresourcesoftheTown,exceptthoserequiredtobeaccountedforinanotherfund.TheConvention/VisitorBureauFundaccountsfortheactivitiesoftheTownrelatedtotourism,andcultureandrecreationactivitiessponsoredbytheTown.13
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE1:SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)MeasurementFocus,BasisofAccounting,andfinancialStatementPresentation(Continued)TheUrbanRenewalAuthorityCapitalProjectsFundaccountsfortheongoingcapitalprojectsofEPURA.TheUrbanRenewalAuthorityDebtServicefundaccountsfortheaccumulationofresourcesfor,andthepaymentof,long-termdebtprincipal,interest,andrelatedcostsofEPURA.TheTownreportsthefollowingmajorproprietaryfunds:TheLightandPowerFundaccountsforthefinancialactivitiesassociatedwiththeprovisionofelectricservices.TheWaterFundaccountsforthefinancialactivitiesassociatedwiththeprovisionofwaterservices.Additionally,theTownreportsthefollowingfundtypes:TheInternalServiceFrtndsaccountforfleetmaintenance,vehiclereplacement,catastrophicloss,healthinsurance,andinformationtechnologyservicesprovidedtootherdepartmentsoftheTownonacostreimbursementbasis.ThePensionTrustFundsaccountfortheactivitiesofthefireandpolicepensionplans,whichaccumulateresourcesforbenefitstoqualifiedemployees.TheAgencyFundisusedtoaccountforresourcescollectedtoassistwithafeasibilitystudyandconstructionofafutureperformingartsfacility.TheTownholdsallresourcesinapurelycustodialcapacity.Assets,LiabilitiesandNetAssets/FundBalancesCashandInvestments-Cashequivalentsincludeinvestmentswithoriginalmaturitiesofthreemonthsorless.Investmentsinpooledcashareconsideredcashequivalents.Investmentsarereportedatfairvalue.InterfundReceivables/Payables-Duringthecourseofoperations,numeroustransactionsoccurbetweenindividualfunds.Theresultingreceivablesandpayablesareclassifiedinthefundfinancialstatementsasduefromotherfundsandduetootherfundsiftheyareshort-terminnature.Noncurrentportionsofinterfundreceivablesandpayablesarereportedasadvancesandareoffsetequallybyafundbalancereserveaccountwhichindicatesthattheydonotconstituteexpendableavailablefinancialresourcesandthereforearenotavailableforappropriation.Anyresidualbalancesoutstandingbetweengovernmentalandbusiness-typeactivitiesarereportedinthegovernment-widefinancialstatementsasinternalbalances.14
4TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE1:SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)Assets,LiabilitiesandNetAssets/FundBalances(Continued)Inventories-Inventoriesarevaluedatcost,usingthefirst-in,first-out(Fif0)method.Thecostsofinventoriesarerecordedasexpenditureswhenconsumedratherthanwhenpurchased.PrepaidExpenses-Certainpaymentstovendorsreflectcostsapplicabletofutureyearsandarereportedasprepaidexpenses.CapitalAssets-Capitalassets,whichincludeland,buildings,equipment,andallinfrastructureownedbytheTown,arereportedintheapplicablegovernmentalorbusiness-typeactivitiescolumnsinthegovernment-widefinancialstatementsandtheproprietaryfundsinthefundfinancialstatements.CapitalassetsaredefinedbytheTownasassetswithaninitial,individualcostofmorethan$5,000andanestimatedusefullifeinexcessofoneyear.Suchassetsarerecordedathistoricalcostorestimatedhistoricalcostifpurchasedorconstructed.Donatedcapitalassetsarerecordedatestimatedfairmarketvalueatthedateofdonation.Thecostsofnormalmaintenanceandrepairsthatdonotaddtothevalueoftheassetormateriallyextendtheassetlifearenotcapitalized.CapitalassetsoftheTownaredepreciatedusingthestraight-linemethodoverthefollowingestimatedusefullives.Buildings30-40yearsCollectionandDistributionSystems25-50yearsStreets,Bridges,andTrails30-40yearsMachineryandEquipment20-25yearsVehicles5-10yearsCustomerDepositscindAdvances-Customeradvancesrepresentamountsreceivedfromcustomersforconstructionofelectricservicefacilitiesattheirlocations.Thesedepositsarerefundedtothecustomersbyreducingtheirannualelectricchargesby20%eachyear,forthelessoroffiveyearsoruntiltheentiredeposithasbeenrefunded.DeferredRevenues-DeferredrevenuesarisewhenresourcesarereceivedbytheTownbeforeithasalegalclaimtothemorwhenassetsarenotavailableascurrentfinancialresourcesinthegovernmentalfunds.Grantfundingreceivedpriortotheincurrenceofqualifyingexpendituresandpropertytaxesearnedbutnotleviedforthecurrentyeararereportedasdeferredrevenues.CompensatedAbsences-EmployeesoftheTownareallowedtoaccumulateunusedvacationandsicktime,UponterminationofemploymentfromtheTown,anemployeewillbecompensatedforallaccruedvacationtimeand,iftheemployeehascompleted20yearsofcontinuousservice,willbecompensatedfor50%ofaccruedsicktimeattheircurrentpayrate.15
4TOWNOFESTESPARK,COLORADONOTESTOfNANCIALSTATEMENTSDecember31,2008NOTE1:SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES(Continued)Assets,LiabilitiesandNetAssets/fundBalances(Continued)Thesecompensatedabsencesarerecognizedascurrentsalarycostswhenearnedintheproprietaryfundsandwhendueinthegovernmentalfunds.Along-termliabilityhasbeenreportedinthegovernment-widefinancialstatementsfortheaccruedcompensatedabsences.Long-TermObligations-Inthegovernment-widefinancialstatements,andtheproprietaryfundsinthefundfinancialstatements,long-termdebtandotherlong-termobligationsarereportedasliabilitiesintheapplicablegovernmentalactivities,business-typeactivities,orproprietaryfundstatementofnetassets.Debtpremiumsanddiscounts,aswellasissuancecosts,aredeferredandamortizedoverthelifeofthedebtusingthestraight-linemethod.Inthefundfinancialstatements,governmentalfundsrecognizethefaceamountofdebtissuedasotherfinancingsources.Premiumsreceivedondebtissuancesarereportedasotherfinancingsourceswhilediscountsondebtissuancesarereportedasotherfinancinguses.Issuancecosts,whetherornotwithheldfromtheactualdebtproceedsreceived,arereportedasdebtserviceexpenditures.NetAssets/FundBalances-Inthegovernment-widefinancialstatementsandtheproprietaryfundsinthefundfinancialstatements,netassetsarerestrictedwhenconstraintsplacedonthenetassetsareexternallyimposed.Inthefundfinancialstatements,governmentalfundsreportreservationsoffundbalanceforamountsthatarcnotavailableforappropriationorarelegallyrestrictedbyoutsidepartiesforuseforaspecificpurpose.PropertyTaxesPropertytaxesattachasanenforceablelienonpropertyonJanuary1andareleviedthefollowingJanuary1.TaxesarepayableinfullonApril30orintwoinstallmentsonFebruary28andJune15.TheCountyTreasurer’sOfficecollectspropertytaxesandremitstotheTownonamonthlybasis.Sincepropertytaxrevenuesarecollectedinarrearsduringthesucceedingyear,areceivableandcorrespondingdeferredrevenuearereportedatDecember31.ContrabandForfeituresTheColoradoContrabandForfeitureActallowslawenforcementagenciestoretainproceedsfromtheseizureofcontraband.Theseproceedsarenotsubjecttoappropriationinthebudgetprocess.CashproceedsarerecordedintheGeneralFund.Propertyandequipmentseizedarerecordedascapitalassets.16
*STOWNOfESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE2:CASHANDINVESTMENTSAsummaryofcashandinvestmentsatDecember31,2008,follows:PettyCash$2,670Deposits683,123Investments25,143,733InvestmentswithEscrowAgent4,249,539Total$30,079,065Cashandinvestmentsarereportedinthefinancialstatementsasfollows:CashandInvestments$22,365,216RestrictedCashandInvestments6,213,788PensionTrustfunds1,045,833AgencyFunds454,228Total$30,079,065DepositsTheColoradoPublicDepositProtectionAct(PDPA)requiresthatalllocalgovernmententitiesdepositcashineligiblepublicdepositories.EligibilityisdeterminedbyStateregulations.AmountsondepositinexcessoffederalinsurancelevelsmustbecollateralizedbyeligiblecollateralasdeterminedbythePDPA.PDPAallowsthefinancialinstitutiontocreateasinglecollateralpooiforallpublicfundsheld.Thepoolistobemaintainedbyanotherinstitution,orheldintrustfortheuninsuredpublicdepositsasagroup.Themarketvalueofthecollateralmustbeatleastequalto102%oftheuninsureddeposits.AtDecember31,2008,theTownhadbankdepositsof$545,573collateralizedwithsecuritiesheldbythefinancialinstitutions’agentsbutnotintheTown’sname.InvestmentsTheTownisrequiredtocomplywithStatestatuteswhichspecifyinvestmentinstrumentsmeetingdefinedrating,maturity,andconcentrationriskcriteriainwhichlocalgovernmentsmayinvest,whichincludethefollowing.Statestatutesdonotaddresscustodialrisk.TheTown’sinvestmentpolicyfollowsStatestatutes.Statestatutesdonotapplytopublicfundsheldorinvestedaspartofanypensionplan.•ObligationsoftheUnitedStatesandcertainU.S.Agencysecurities•Certaininternationalagencysecurities•GeneralobligationandrevenuebondsofU.S.localgovernmententities•Bankers’acceptancesofcertainbanks•Commercialpaper•Localgovernmentinvestmentpools•Writtenrepurchaseagreementscollateralizedbycertainauthorizedsecurities17
TOWNOfESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE2:CASHANDINVESTMENTS(Continued)Investments(Continued)•Certainmoneymarketfunds•GuaranteedinvestmentcontractsAtDecember31,2008,theTownhadthefollowinginvestments:InvestmentMaturities(inYears)S&PLessfairInvestmentTypeRatingThan11-5ValueLocalGovernmentInvestmentPoolsAAAm$15,047,060S-S15,047,060U.S.TreasurySecuritiesN/A507,071-507,071U.S.AgencySecuritiesAAA2,397,5551,326,0623,723,617U.S.AgencySecuritiesN/A2,195,7901,059,0063,254,796MoneyMarketfundsAAAm1,630,107-1,630,107Total521,777,583S2,385,068$24,162,651AtDecember31,2008,theTown’sPensionFundshadthefollowinginvestments:InvestmentMaturities(inYears)S&PLessFairInvestmentTypeRatingThanII-5ValueU.S.AgencySecuritiesN/A$-$364,071$364,071MoneyMarketFundsAAA169,621-169,621MutualFundsNotRated447.390-447,390Total5617,011S364,071$981,082InterestRateRisk-StatestatuteslimitinvestmentsinU.S.Agencysecuritiestoanoriginalmaturityoffiveyearsunlessthegoverningboardauthorizestheinvestmentforaperiodinexcessoffiveyears.CreditRisk-StatestatuteslimitinvestmentsinU.S.Agencysecuritiestothehighestratingissuedbytwoormorenationallyrecognizedstatisticalratingorganizations(NRSROs).Statestatutesalsolimitinvestmentsinmoneymarketfundstothosethatmaintainaconstantshareprice,withamaximumremainingmaturityinaccordancewithRule2a-7,andeitherhaveassetsofonebilliondollarsorthehighestratingissuedbyaNRSRO.ConcentrationofCreditRisk-StatestatutesdonotlimittheamounttheTownmayinvestinoneissuer.AtDecember31,2008,theTown’sinvestmentinthefederalNationalMortgageAssociation,federalHomeLoanBank,andtheFederalfarmCreditBankwere9%,8%,and7%,respectively,oftheTown’stotalinvestments.1$
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE2:CASHANDINVESTMENTS(Continued)Investments(Continued)LocalGovernmentInvestmentFools-AtDecember31,2008,theTownhad$989,783and$14,057,277investedintheColoradoSurplusAssetFundTrust(CSAFE)andtheColoradoLocalGovernmentLiquidAssetTrust(Colotrust),respectively,investmentvehiclesestablishedbyStatestatuteforlocalgovernmententitiesinColoradotopoolsurplusfunds.TheColoradoDivisionofSecuritiesadministersandenforcestherequirementsofcreatingandoperatingthePools.ThePoolsoperatesimilarlytoamoneymarketfundandeachshareisequalinvalueto$1.00.ThePoolsareratedAAAmbyStandardandPoor’s.InvestmentsofthePoolsarelimitedtothoseallowedbyStatestatutes.Adesignatedcustodialbankprovidessafekeepinganddepositoryservicesinconnectionwiththedirectinvestmentandwithdrawalfunctions.Thecustodian’sinternalrecordsidentifytheinvestmentsownedbytheparticipatinggovernments.RestrictedCashandInvestmentsTheLightandPowerFundheldinvestmentsof$1,964,249restrictedforcapitalprojects.Inaddition,theWaterFundheldinvestmentswithanescrowagentof$4,249,539restrictedfortheMary’sLakewatertreatmentplantproject.NOTE3:NOTESRECEIVABLEDuring2006,theTownloaned$2,700,000totheEstesParkHousingAuthoritytoassistwiththeacquisitionofanaffordablehousingproperty.Interestaccruesontheloanat3.63%andisduequarterly,beginningSeptember1,2006.DuringtheyearendedDecember31,2008,theTownextendedtheamountsduetotheLightandPower,WaterandCatastrophicLossFundsforanadditionaltwoyears,throughJune2010.Inaddition,theGeneralFundnotereceivablewaspaidinfull.AtDecember31,2008,theloanamountsof$372,764,$292,168,and$515,067werereportedintheLightandPower,WaterandCatastrophicLossFunds,respectively.19
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE4:CAPITALASSETSCapitalassetactivityfortheyearendedDecember31,2008,issummarizedbelow:BalanceBalance12/31/07AdditionsDeletions12/31/08GovernmentalActivitiesCapitalAssets,NotBeingDepreciatedLand$5,717,894$-$-$5,717,894ConstructioninProgress42,732-32,8479,885TotalCapitalAssets,NotBeingDepreciated5.760.626-32,8475,727,779CapitalAssets,BeingDepreciatedBuildings13,952,82768,309-14,021,136Infrastructure96,986,8011,112,724-98,099,525MachineryandEquipment5,315.437413,259184,2405,544,456TotalCapitalAssets,BeingDepreciated116,255,0651,594,292184,240117,665,117LessAccumulatedDepreciationForBuildings(5,312.577)(384,057)-(5,696,634)Infrastructure(68.553.858)(2,360,045)-(70,913,903)MachineryandEquipment(3,337,536)(397,452)(I$4,240)(3,550,748)TotalAccumulatedDepreciation(77,203,971)(3.141.554)(184.240)(80,161,285)TotalCapitalAssets,BeingDepreciated,Net39,051.094(1,547.262)-37,503,832GovernmentalActivitiesCapitalAssets,NetS44,811,720S(1,547,262)$32,847S43,231.611Business-TypeActivitiesCapitalAssets,NotBeingDepreciatedLandandEasements$2,943,951S-$-$2,943,951ConstructioninProgress-2,462,519-2,462,519TotalCapitalAssets,NotBeingDepreciated2,943,9412,462.519-5,406,470CapitalAssets,BeingDepreciatedBuildings2,369,89020,05010,0252,379,915Infrastructure25,549,308389,40214,72325,923,987MachineryandEquipment11,344,7054,957,033182,39816,119,340TotalCapitalAssets,BeingDepreciated39,263,9035,366,485207,14644,423,242LessAccumulatedDepreciationForBuildings(1,492,756)(50,626)(10,025)(1,533,357)Infrastructure(8,563,996)(547,339)(14,723)(9,096,612)MachineryandEquipment(5.801.691)(540.952)(168,96k)(6,173,678)TotalAccumulatedDepreciation(15,858,443)(1,138,917)(193.713)(16,803,647)TotalCapitalAssets,BeingDepreciated,Net23,405,4604,227,56813,43327,619,595Business-TypeActivitiesCapitalAssets,Net$26,349,411$6,690,087S13,433$33,026,06520
TOWNOfESTESPARK,COLORADONOTESTOFiNANCIALSTATEMENTSDecember31,2008NOTE4:CAPITALASSETS(Continued)Depreciationexpensewaschargedtofunctions/programsoftheTownasfollows:GovernmentalActivitiesGeneralGovernment$1,287,577PublicSafety208,809PublicWorks1,001,852CultureandRecreation643,316Total$3,141,554Business-TypeActivitiesLightandPower$671,196Water467,721Total$1,138,917NOTE5:LONG-TERMDEBTGovernmentalActivitiesfollowingisasummaryoflong-termdebttransactionsforthegovernmentalactivitiesfortheyearendedDecember31,2008.BalanceBalanceDueWithin12/31/07AdditionsDeletions12/31/08OneYear2003RevenueRefundingBonds$895,000$-$895,000$--BondPremium10,077-10,077--DeferredAmountonRefunding(10,862)-(10,862)--1998CertificatesofParticipation172,000-84,00088,00088,000CapitalLeaseObligations213,675-213,675--CompensatedAbsences435,716247,348220,620462,444243,302PostemploymentBenefits-45.47038,8516,619-Total$1,715,606$292,818S1,451,361$557,063S331,3022003TaxIncrementRevenueRefundingBondswereissuedbyEPURAtorefinancetheSeries1993Bonds.PrincipalpaymentsweredueannuallyonMay15,through2008.Interestwasduesemi-annuallyonMay15andNovember15.Interestaccruedatratesrangingfrom3%to3.25%.Thebondswerepayabtesolelyfrompropertyandsalestaxescollectedwithintheincrementarea,andinvestmentincome.DuringtheyearendedDecember31,2008,revenuesof$4,081,316wereavailabletopayannualdebtserviceof$909,544.ThebondswerepaidinfullduringtheyearendedDecember31,2008.21
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE5:LONG-TERMDEBT(Continued)GovernmentalActivities(Continued)1998RefundingCertificatesofParticipationwereissuedbytheBuildingAuthoritytorefinancetheBuildingAuthority’s1990CertificatesofParticipation.PrincipalpaymentsaredueannuallyonOctober25,through2009.InterestpaymentsareduequarterlyonJanuary25,April25,July25andOctober25.Interestaccruesattherateof5.5%perannum.AnnualdebtservicerequirementsatDecember31,2008,wereasfollows.YearEndedDecember31,PrincipalInterestTotal2009$$8,000$4,840$92,840In2003,theTownenteredintoasecondamendedcapitalleaseagreementfortheconstructionandequippingoftheConferenceCenter,whichwerepaidfromrevenuesoftheCommunityReinvestmentFund.ThiscapitalleasewaspaidinfullduringtheyearendedDecember31,2008.CompensatedabsencesareexpectedtobeliquidatedprimarilywithrevenuesoftheGeneralFund.Business-TypeActivitiesFollowingisasummaryoflong-termdebttransactionsforthebusiness-typeactivitiesfortheyearendedDecember31,2008.BalanceBalanceDueWithin12/31/07AdditionsPayments12/31/08OneYear2007LightandPowerRevenueBonds$6,180,000$-$235,000$5,945,000$215,0001999LightandPowerRevenueBonds1,735,000-210,0001,525,000220,000200$AWaterLoan-5,494,410-5,494,410102,17019973WaterLoan375,000-$5,000290,00090,0001993AWaterLoan535,000-165,000370,000180,000CompensatedAbsences180,099152,301135,613196,787139,406Total$9,005,099$5,646,711S$30,613$13,821,197$946,5762007LightandPowerRevenueBondswereissuedtofinanceconstructionandequippingofanewsubstationandrebuildingofcertaindistributionlinesandotherimprovementstotheTown’slightandpowerfacilities.PrincipalpaymentsaredueannuallyonNovember1,throtigh2027.Interestpaymentsareduesemi-annuallyonMay1andNovember1.Interestaccruesat3.88%.1999LightandPowerRevenueBondswereissuedtorelocateandmakeimprovementstotheTown’slightandpowerfacilities.PrincipalpaymentsaredueannuallyonNovember1.Interestpaymentsareduesemi-annuallyonMay1andNovember1,through2014.Interestaccruesatratesrangingfrom4%to5.45%.22
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE5:LONG-TERMDEBT(Continued)Business-TypeActivities(Continued)Thesebondsarepayablesolelyfromallincomederivedfromtheoperationsofthelightandpowerfacilitiesafterdeductionofoperatingandmaintenancecosts.DuringtheyearendedDecember31,2008,netrevenuesof$3,438,141wereavailabletopayannualdebtserviceof$747,676.AnnualdebtservicerequirementsfortheoutstandingbondsatDecember31,2008,areasfollows.YearEndedDecember31,PrincipalInterestTotal2009$435,000$311,009$746,0092010460,000291,568751,5682011480,000270,746750,7462012505,000248,778753,7782013530,000225,374755,3742014-20181,710,000834,2052,544,2052019-20231,720,000520,6062,240,6062024-20271,630,000160,8131,790,813Total$7,470,000$2,863,099S10,333,0992008WaterLoanfromtheColoradoWaterResourcesandPowerDevelopmentAuthoritywasobtainedtofinanceamembranefilterandincreasecapacityattheMary’sLakewatertreatmentplant.Principalandinterestpaymentsareduesemi-annuallyonFebruary1,throughAugust1,2027.Interestaccruesat3.26%.1997BWaterLoanfromtheColoradoWaterResourcesandPowerDevelopmentAuthoritywasobtainedtofinanceimprovementstothewatersystem.PrincipalpaymentsaredueannuallyonOctober1,through2011.Interestpaymentsareduesemi-annuallyonApril1andOctober1.Interestaccruesatratesrangingfrom3.8%to5%.1993AWaterLoanfromtheColoradoWaterResourcesandPowerDevelopmentAuthoritytofinanceimprovementstothewatersystem.PrincipalpaymentsaredueannuallyonNovember1,through2010.Interestpaymentsareduesemi-annuallyonMay1andNovember1.Interestaccruesatratesrangingfrom2.7%to5%.TheseloansarepayablesolelyfromrevenuesoftheTown’swatersystemafterdeductionofoperatingandmaintenancecosts.DuringtheyearendedDecember31,2008,netrevenuesof$1,114,421wereavailabletopayannualdebtserviceof$299,293.23
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE5:LONG-TERMDEBT(Continued)Business-TypeActivities(Continued)AnnualdebtservicerequirementsfortheoutstandingloansatDecember31,2008,areasfollows.YearEndedDecember31,PrincipalInterestTotal2009$372,170$138,469$510,6392010364,464146,321510,7852011292,310136,971429,2812012261,098144,688405,7862013266,774140,430407,2042014-20181,379,278642,8242,022,1022019-20231,487,122534,6682,021,7902024-20271,73l,194272,2502,003,444Total$6,154,410$2,156,621$8,311,031NOTE6:INTERFUNDTRANSFERSInterfundtransfersfortheyearendedDecember31,2008,werecomprisedofthefollowing:TransfersInTransfersOutAmountGeneralLightandPower$933,705GeneralWater105,677ConventionlVisitorBureauGeneral1,875,000CommunityReinvestmentGeneral650,000MuseumGeneral240,849SeniorCitizensGeneral149,569FireServicesGeneral921,027EPURASpecialRevenueGeneral200,000EPURACapitalProjectsEPURADebtService616,877Total$5,692,704Annually,theLightandPowerandWaterfundsreimbursetheGeneralFundforoverheadcosts.TheGeneralFundsubsidizestheoperationsoftheConvention/VisitorBureau,CommunityReinvestment,Museum,SeniorCitizens,andEPURASpecialRevenueFunds.DuringtheyearendedDecember31,2008,theFireServicesFundwasestablishedwithatransferfromtheGeneralfund.TheEPURADebtServiceFundprovidedfundingforcertaincapitalprojectsthroughtransferstotheEPURACapitalProjectsFund.24
TOWNOfESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,200$NOTE7:RISKMANAGEMENTPublicEntityRiskPoolTheTownisexposedtovariousrisksoflossrelatedtotorts;theftof,damageto,anddestructionofassets;errorsandomissions;injuriestoemployees;andnaturaldisasters.Fortheserisksofloss,theTownisamemberoftheColoradoIntergovernmentalRiskSharingAgency(CIRSA),aseparateandindependentgovernmentalandlegalentityformedbyintergovernmentalagreementbymembermunicipalitiespursuanttoStatestatute.ThepurposesofCIRSAaretoprovidemembersdefinedliability,property,andworkerscompensationcoveragesandtoassistmembersinpreventingandreducinglossesandinjuriestomunicipalpropertyandtopersonsorpropertywhichmightresultinclaimsbeingmadeagainstmembersofCIRSA,theiremployeesandofficers.ItistheintentofthemembersofCIRSAtocreateanentityinperpetuitywhichwilladministerandusefundscontributedbythememberstodefendandindemnify,inaccordancewiththebylaws,anymemberofCIRSAagainststatedliabilityofloss,tothelimitofthefinancialresourcesofCIRSA.ItisalsotheintentofthememberstohaveCWSAprovidecontinuingstabilityandavailabilityofneededcoveragesatreasonablecosts.AllincomeandassetsofCIRSAshallbeatalltimesdedicatedtotheexclusivebenefitofitsmembers.CIRSAisaseparatelegalentityandtheTowndoesnotapprovebudgetsnordoesithavetheabilitytosignificantlyaffecttheoperationsofCWSA.Self-InsuredMedicalPlanTheTownispartiallyself-insuredforhealthbenefitstoeligibleemployeesanddependents.FortheyearendedDecember31,2008,theTownwasresponsibleforupto$5,000perclaim,peryear.Self-insuranceactivitieswerereportedintheHealthInsuranceInternalServiceFund.TheTownrecognizesclaimspayableatDecember31,2008,estimatedatfourmonthsofpremiums,tocoverincurredclaimsshouldtheTownterminatethehealthinsurancecontractwiththecommercialcarrier.Settledclaimamountshavenotexceededinsurancecoverageinthepastthreeyears.ClaimspayableasofandfortheyearsendingDecember31,200$and2007,wereasfollows:ClaimsPayable,December31,2006$115,683ClaimsIncurredandAdjustments311,722ClaimsPaid(305,097)ClaimsPayable,December31,2007122,308ClaimsIncurredandAdjustments365,419ClaimsPaid(347,461)ClaimsPayable,December31,2008S140,26625
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE8:RETIREMENTCOMMITMENTSManagementEmployeesandPoliceMoneyPurchasePensionPlansTheTowncontributestoasingle-empLoyerdefinedcontributionmoneypurchasepensionplanonbehalfofmanagementemployeesandasimilarplanforpoliceofficers.ThecontributionrequirementsofPlanparticipantsandtheTownareestablishedandmaybeamendedbytheTownBoardofTrustees.ManagementEmployeesPlan-ManagementemployeesareeligibletoparticipateinthePlan.ThePlanisadministeredbytheInternationalCity/CountyManagementAssociation(ICMA).TheTownisrequiredtocontribute10%ofeachparticipant’scoveredsalarytothePlan,andemployeesmustcontribute7.5%ofcoveredsalary.DuringtheyearendedDecember31,2008,theTownandemployeecontributionswere$87,738and$65,803,respectively,equaltotherequiredcontributions.PolicePlan-AllswornpoliceemployeesshallbeeligibletoparticipateinthePlanadministeredbytheInternationalCity/CountyManagementAssociation(ICMA).TheTownisrequiredtocontribute9.2%ofeachparticipatingemployee’scoveredsalary,andeachemployeemustcontribute8%ofcoveredsalary.DuringtheyearendedDecember31,2008,theTownandemployeecontributionswere$119,654and$104,047,respectively,equaltotherequiredcontributions.DeathanddisabilitycoverageisprovidedformembersthroughtheStatewideDeathandDisabilityPlan,whichisadministeredbytheColoradoFireandPolicePensionAssociation.Allfull-time,paidpoliceofficersoftheTownaremembersofthePlan.TheStateLegislatureestablishesbenefitprovisionsofthePlan.DefinedBenefitMultiple-EmployerPensionPlanPlanDescription-TheTowncontributestotheLocalGovernmentDivisionTrustFund(LGDTF),acost-sharingmultiple-employerdefinedbenefitpensionplanadministeredbythePublicEmployee’sRetirementAssociationofColorado(PERA).TheLGDTFprovidesretirementanddisability,annualincreases,anddeathbenefitsformembersortheirbeneficiaries.Participantsincludeallnon-managementandnon-uniformedemployees.Contributionsmaycommenceuponemployment.Title24,Article51oftheColoradoRevisedStatutes(CRS),asamended,assignstheauthoritytoestablishbenefitprovisionstotheStateLegislature.PERAissuesapubliclyavailableaimualfinancialreportthatincludesfinancialstatementsandrequiredsupplementaryinformationfortheLGDTF.ThatreportmaybeobtainedbycontactingColoradoPERA,1301PennsylvaniaStreet,Denver,Colorado,80203.26
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE8:RETIREMENTCOMMITMENTS(Continued)DefinedBenefitMultiple-EmployerPensionPlan(Continued)FundingPolicy-PlanmembersandtheTownarerequiredtocontributeataratesetbystatute.ThecontributionrequirementsofPlanmembersandtheTownareestablishedunderTitle24,Article51,Part4oftheCRS,asamended.Thecontributionrateformemberswas8%forthepastthreeyears.TheTown’scontributionratesfortheyearsendedDecember31,2008,2007and2006,were11.9%,11%,and10.5%ofcoveredsalary,respectively.AportionoftheTown’scontribution(1.02%ofcoveredsalary)wasallocatedtotheHealthCareTrustFund(SeeNote10).TheTown’scontributionstoLGDTFfortheyearsendedDecember31,2008,2007and2006,were$478,201,$406,922,and$375,528,respectively,equaltotherequiredcontributionsforeachyear.VolunteerFirefighters’PensionPlanPlanDescription-TheTownhasestablishedasingle-employerdefinedbenefitpensionplanforvolunteerfirefightersasauthorizedbyStatestatute.ThePlanisadministeredbyaBoardofTrusteescomposedofTownBoardofTrusteesmembersandfirefighters.TheBoardofTrusteesestablishedthePlanbenefits.Anyfirefighterwhohasbothattainedtheageoffiftyandcompletedtwentyyearsofactiveserviceshallbeeligibleforamonthlypension,currently$400.Afirefighterwhoisdisabledinthelineofdutyandwhosedisabilityisofsuchcharacterandmagnitudeastodeprivethefirefighterofearningcapacityandextendsbeyondoneyear,shallbecompensatedinanamountdeterminedbytheBoardofTrustees.Currently,thePlancovers25retireesandbeneficiaries,hasoneinactivemembereligibletoreceivebenefitsand30activemembers.ThePlandoesnotpublishaseparatestand-alonereport,butisincludedinthesefinancialstatementsasaPensionTrustFund.fundingPolicy-TheVolunteerFirefighters’PensionPlanmayreceivecontributionsfromtheTowninanamountnottoexceedone-halfmillofpropertytaxrevenue.AsestablishedbytheStateLegislature,theStateofColoradocontributesninetypercentoftheTown’scontribution.ThecontributionrequirementsoftheTownandPlanmembersareestablishedandmaybeamendedbytheTownBoardofTrustees.Thecontributionsarenotactuariallydetermined.Anactuaryisusedtodeterminetheadequacyofcontributions.TheactuarialstudyasofJanuary1,2007,indicatedthatthecurrentlevelofcontributionstothePlanareadequatetosupportonanactuariallysoundbasistheprospectivebenefits,includingadministrativecosts,forthepresentPlan.Actuarialassumptionsincludedthefollowing:ActuarialCostMethod-EntryageInterestRate-5.5%perannum,compoundedannuallyRetirement-Age50and20yearsofserviceDisability-NoneMortality-1994GroupAnnuityMortalityTableMaritalStatus-90%marriedAgeDifference-Malesassumedtobe3yearsolderAssetValuation-Marketvalue27
TOWNOfESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE8:RETIREMENTCOMMITMENTS(Continued)VolunteerFirefighters’PensionPlan(Continued)Basedonanamortizationperiodofthirtyyearsusingtheleveldollarmethodonanopenbasis,thePlan’sexpectedcontributionsexceedtheamountrecommendedtoeliminatetheunfundedactuarialaccruedliability.DuringtheyearendedDecember31,2008,theTownandtheStatecontributed$81,000and$48,605,respectively,tothePlan.FundedStatusandFundingProgress-AtJanuary1,2007,themostrecentactuarialvaluationdate,thePlanwas74.3%funded.Theactuarialaccruedliabilityforbenefitswas$1,496,221,andtheactuarialvalueofassetswas$1,112,086,resultinginanunfundedactuarialaccruedliabilityof$384,135.Thescheduleofftindingprogress,presentedasrequiredsupplementaryinformationfollowingthenotestofinancialstatements,presentsamultiyeartrendinformationaboutwhethertheactuarialvalueofplanassetsareincreasingordecreasingovertimerelativetotheactuarialaccruedliabilityforbenefits.ThePlan’snetpensionobligationfortheyearendedDecember31,2008wasasfollows:AnnualRequiredContribution$70,001InterestonNetPensionObligation(50,975)AdjustmenttoNetPensionObligation61,292AnnualPensionCost(APC)80,318ContributionsMade(129,605)ChangeinNetPensionObligation(49,287)NetPensionObligation,Beginning(926,817)NetPensionObligation,Ending$(976,104)TrendinformationofthePlanfollows:AnnualPercentagePensionofAPCNetPensionYearEndingDecember31,Cost(APC)ContributedObligation2008$80,318161%$(976,104)200779,117144%(926,817)2006104,578114%(892,161)PolicePensionPlanPlanDescription-TheTownadministersthesingle-employerPoliceDefinedBenefitPensionPlan.MembershipinthePlanconsistsofoneindividualcurrentlyreceivingbenefits.Themonthlybenefitis$214withnofutureincreasesscheduled.ThePlanisclosedtonewentrants.PlanprovisionsandcontributionsareestablishedandmaybeamendedbytheTownBoardofTrustees.ThePlanisincludedinthesefinancialstatementsasaPensionTrustFund.28
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE9:PENSIONPLANSCombiningFinancialStatementsCombiningstatementsfortheTown’spensiontrustfundsasofandfortheyearendedDecember31,2008,wereasfollows:firePolicePensionPensionTotalAssetsCashandInvestmentsS1.043,616S2,217S1,045,833LiabilitiesAccountsPayable415-415NetAssetsHeldinTrustforPensionBenefitsS1,043,201$2,217S1,045,418AdditionsStateContributionsS48,605$-S48,605TownContributions81,000-81,000InvestmentIncome(135.582)150(135,432)TotalAdditions(5.977)150(5.827)DeductionsPensionBenefitPayments115,2102,565117,775AdministrativeExpenses-812812TotalDeductions115,2103.377118,587ChangeinPlanNetAssets(121,187)(3,227)(124,414)PlanNetAssets,Beginning1,164,3885,4441,169,832PlanNetAssets,Ending$1,043,201$2,217$1,045,418NOTE10:POSTEMPLOYMENTIIEALTHCAREBENEFITSDefinedBenefitMultiple-EmployerPensionPlanPlanDescription-TheTowncontributestotheHealthCareTrustFund(HCTF),acost-sharingmultiple-employerpostemploymenthealthcareplanadministeredbyPERA.TheHCTFprovidesahealthcarepremiumsubsidytoPERAparticipatingbenefitrecipientsandtheireligiblebeneficiaries.Title24,Article51,Part12oftheCRS,asamended,assignstheauthoritytoestablishtheHCTFbenefitprovisionstotheStateLegislature.PERAissuesapubliclyavailableannualfinancialreportthatincludesfinancialstatementsandrequiredsupplementaryinformationfortheHCTF.ThatreportmaybeobtainedbywritingtoColoradoPERA,1301PennsylvaniaStreet,Denver,Colorado80203.29
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE10:POSTEMPLOYMENTHEALTHCAREBENEFITS(Continued)DefinedBenefitMultiple-EmployerPensionPlan(Continued)fundingPolicy-TheTownwasrequiredtocontributeatarateof1.02%ofcoveredsalaryforallPERAmembersassetbystatute.Nomembercontributionsarerequired.ThecontributionrequirementsfortheTownareestablishedbyunderTitle24,Article51,Part4oftheCRS,asamended.TheTown’scontributionstotheHCTffortheyearsendedDecember31,2008,2007and2006,were$40,940,$37,689,and$36,382,respectively,equaltotherequiredcontributionsforeachyear.Single-EmployerDefinedBenefitPlanTheTownadoptedthestandardsofGovernmentalAccountingStandardsBoardStatementNo.45,AccountingandFinancialReportingbyEmployersforPostemploymentBenefitsOtherThanPensions(GASBStatementNo.45),fortheyearendedDecember31,2008,onaprospectivebasis.PlanDescription-TheTownhasestablishedasingle-employerdefinedbenefitpostemploymenthealthcareplan.Employeeswithatleast15yearsofservicewiththeTown,andwhohavereachedatleast60yearsofage,arceligibletoreceivemedicalinsurancebenefitsafterretirement.Thesebenefitsexpirewhentheretireereachestheageof65.TheauthoritytoestablishandamendbenefitprovisionsrestswiththeTownBoardofTrustees.TheTowndoesnotissueastand-alonefinancialreportfortheplan.FundingPolicy-ThecontributionrequirementsofplanmembersandtheTownareestablishedandmaybeamendedbytheTownBoardofTrustees.Therequiredcontributionisbasedonprojectedpay-as-you-gofinancingrequirements.fortheyearendedDecember31,2008,theTowncontributed$38,851totheplan.Planmembersarenotrequiredtocontributetotheplan.AnnualOPEBCostandNetOPEBObligation-TheTown’sannualotherpostemploymentbenefit(OPEB)costiscalculatedbasedontheannualrequiredcontributionoftheemployer(ARC),anamountactuariallydeterminedinaccordancewiththeparametersofGASBStatement45.TheARCrepresentsaleveloffundingthat,ifpaidonanongoingbasis,isprojectedtocovernormalcosteachyearandamortizeanyunfundedactuarialliabilitiesoveraperiodofthirtyyears.ThefollowingtableshowsthecomponentsoftheTown’sannualOPEBcostfortheyear,theamountactuallycontributedtotheplan,andchangesintheTown’snetOPEBobligationtotheplan.Annualrequiredcontribution$45,470InterestonnetOPEBobligation-Adjustmenttoannualrequiredcontribution-AnnualOPEBcost45,470Contributionsmade38,851IncreaseinnetOPEBobligation6,619NetOPEBObligation,BeginningNetOPEBObligation,EndingS6,61930
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE10:POSTEMPLOYMENTHEALTHCAREBENEFITS(Continued)Single-EmployerDefinedBenefitPlan(Continued)TheTown’sannualOPEBcost,thepercentageofannualOPEBcostcontributedtotheplan,andthenetOPEBobligationfortheyearendedDecember31,2008,follows.PercentageofAnnualAnnualOPEBNetOPEBYearEndedOPEBCostCostContributedObligation12/31108545,47085%$6,619fundedStatusandfundingProgress-AtJanuary1,2007,themostrecentactuarialvaluationdate,theactuarialaccruedliability(AAL)was$457,288,allofwhichwasunfunded.Thecoveredpayroll(annualpayrollofactiveemployeescoveredbytheplan)was$4.2million,andtheratiooftheunfundedactuarialaccruedliability(UAAL)tothecoveredpayrollwas10.89%.Actuarialvaluationsofanongoingplaninvolveestimatesofthevalueofreportedamountsandassumptionsabouttheprobabilityofoccurrenceofeventsfarintothefuture.Theseassumptionsincludeamongothers,annualratesofpayrollincreases,healthcarecosttrends,andmortalityrates.AmountsdeterminedregardingthefundedstatusoftheplanandtheannualrequiredcontributionsoftheTownaresubjecttocontinualrevisionasactualresultsarecomparedwithpastexpectationsandnewestimatesaremadeaboutthefuture.ActuarialMethodsandAssumptions-ProjectionsofbenefitsforfinancialreportingpurposesarebasedonthesubstantiveplanasunderstoodbytheTownandplanmembers,andarebasedonthetypesofbenefitsprovidedatthetimeofeachvaluationandthehistoricalpatternofsharingofthebenefitcostsbetweentheTownandplanmemberstothatpoint.Theactuarialmethodsandassumptionsusedincludetechniquesthataredesignedtoreducetheeffectsofshort-termvolatilityinactuarialaccruedliabilitiesandtheactuarialvalueofassets,consistentwiththelong-termperspectiveofthecalculations.Significantmethodsandassumptionsincludedthefollowing:ActuarialValuationDate-January1,2007ActuarialCostMethod-EntryAgeAmortizationMethod-LevelPercentageofPayroll,OpenRemainingAmortizationPeriod-30yearsAssetValuationMethod-FairValueInvestmentRateofReturn-4.5%,withinflationat3%HealthcareCostTrendRateandPremiumIncrease-10%for2008,decreasing.5%eachyearuntil5%in2018andafter31
TOWNOFESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE11:COMMITMENTSANDCONTINGENCIESTaborAmendmentColoradovoterspassedanamendmenttotheStateConstitution,ArticleX,Section20,whichhasseverallimitations,includingrevenueraising,spendinglimitations,andotherspecificrequirementsofstateandlocalgovernment.InNovember,2000,voterswithintheTownauthorizedtheTownandEPURAtocollectandretainallrevenueinexcessoftherevenuelimitationsoftheAmendment,andtospendallsuchrevenuesbytransferringsaidrevenuesintotheCommunityReinvestmentFundforthepurposeofacquisition,maintenance,repairandreplacementofcapitalprojects.TheTownhasestablishedanemergencyreserve,representing3%ofqualifyingexpenditures,asrequiredbytheAmendment.AtDecember31,2008,theemergencyreserveof$563,000,wasreportedasrestrictednetassetsofthegovernmentalactivitiesinthegovernment-widefinancialstatementsandintheCatastrophicLossInternalServiceFundinthefundfinancialstatements.ClaimsandJudgementsTheTownparticipatesinanumberoffederal,state,andlocalprogramsthatarefullyorpartiallyfundedbygrantsreceivedfromothergovernmentalentities.Expensesfinancedbygrantsaresubjecttoauditbytheappropriategrantorgovernment.Ifexpensesaredisallowedduetononcompliancewithgrantprogramregulations,theTownmayberequiredtoreimbursethegrantorgovernment.AtDecember31,2008,significantamountsofgrantexpenseshavenotbeenauditedbutmanagementbelievesthatsubsequentauditswillnothaveamaterialeffectontheoverallfinancialpositionoftheTown.LitigationTheTownisinvolvedinvariouslitigation.Theoutcomeofthislitigationcannotbedeterminedatthistime.UnconditionalPurchaseObligationTheTownisaparticipantintheMunicipalSubdistrict,NorthernColoradoWaterConservancyDistrict.ThepurposeoftheSubdistrictistoprovideasupplementalwatersupplytotheparticipantsthroughtheconstructionoftheWindyGapProject.TheTownisan.8%participantintheSubdistrict.TheSubdistrictissuedbondsin1986tofinancetheWindyGapProject.Thebondshavesincebeenrefinanced.Theparticipantshaveagreedtoservicethisdebtandpayoperatingexpensesthroughwaterallotmentcontracts.32
TOWNOfESTESPARK,COLORADONOTESTOFINANCIALSTATEMENTSDecember31,2008NOTE11:COMMITMENTSANDCONTINGENCIES(Continued)UnconditionalPurchaseObligation(Continued)TheTown’srequiredpaymentsunderthisagreementareasfollows:YearEndedDecember31,2009$61,970201061,970201161,970201262,020201362,0202014-2017251,488Total$561.438NOTE12:RESTATEMENTDuringtheyearendedDecember31,2008,theTownadjustedcapitalassetsofthegovernmentalactivitiestoremovelandthatwassoldinapreviousyear.NetassetsatDecember31,2007,wererestatedtoreflectthiscorrection,asfollows:NetAssets,December31,2007,asOriginallyStated$56,727,390CapitalAssets,NotBeingDepreciated(1,056,768)NetAssets,December31,2007,asRestated$55,670,62233
REQUIREDSUPPLEMENTARYINFORMATION
STOWNOFESTESPARK.COLORADOREOUIREDSUPPLEMENTARYINFORMATIONSCHEDULEOfFUNDINGPROGRESSVOLUNTEERFIREfIGHTERS’PENSIONPLANYearEndedDecember31.200$UAALasaActuarialPercentageofActuarialActuarialAccruedUnfundedAALCoveredValuationValueofLiability(AAL)(UAAL)FundedRatioCoveredPayrollDateAssets(a)EntryAge(b)(b-a)(a/b)Payroll(c)((b-a)/c)1/1/97$656,734$$21,522$164,78879.9%NANA1/1/99758,599$45,446$6,847$9.7%NANA1/1/01$32,5591,139,599307,04073.1%NANA1/1/03933,8231,588,888655,06558.8%NANA1/1/05996,0271,617,17$621,15161.6%NANA1/1/071,112,0861,496,221384,13574.3%NANASeetheaccompanyingIndependentAuditors’Report.34
TOWNOFESTESPARK,COLORADOGENERALFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESTaxesSalesS7,413,154$7,233,707$7,186,7205(46,987)Properly320,154320,154315,323(4,831)Franchise444,741444,741425,244(19.497)Use204,072210,763186,294(24.469)LicensesandPermits563,565589,000623,76234,762Intergovernmental1,321,7681,565,6591,558,783(6,876)ChargesforServices60,40052,25058,9036.653FinesandForfeitures27,67553,39055,7002,310RentalIncome177,002177,002171,575(5,427)InvestmentIncome200,000130,000180,35850.35$Miscellaneous421,346431,615451,11219,497TOTALREVENUES11,153,87711,208,28111,213,7745,493EXPENDITURESGeneralGovernmentLegislative141.48$136,769108,99227.777Judicial41.12441,61541,219396Executive374.493367,083339,13227,951Election9,68033,75524,0079,748Administrative294,709293,447261,06432.383CommunityDevelopment397,396393,553378,00915.544Buildings484,546489,289413,05276,237CommunityServices362,297563,297578,850(15.553)Other247,400247,861213,10034.761TotalGeneralGovernment2,353,1332,566,6692,357,425209.244PublicSafetyPolice2.748,9582,677,9852,588,62689,359Fire921,027---ProtectiveInspection380,803380,342377,9562.386TotalPublicSafely4,050,788-3,058,3272,966,58291,745PublicWorksEngineering106.095116,132112,6183.514Streets1,230,7541,448,3961,261,466186,930TotalPublicWorks1.336,8491,564,5281,374,084190,444CultureandRecreationParksandRecreation1,010,5481,037,579925,298112,281TOTALEXPENDITURES8,751,3188,227,1037,623,389603.714(Continued)SeetheaccompanyingIndependentAuditors’Report.35
TOWNOFESTESPARK,COLORADOGENERALFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)EXCESSOFREVENUESOVEREXPENDITURES2,402,5592,981,1783,590,385609,207OTHERFINANCINGSOURCES(USES)TransfersIn1,007,6111,007,6111,039,38231,771TransfersOut(3,115,418)(4.036,445)-(4,036,445)---TOTALOTHERFINANCINGSOURCES(USES)(2,107,807)(3,028,834)(2,997,063)31,771NETCHANGEINFUNDBALANCE294,752(47,656)593,322640,978FUNDBALANCE,Beginning3,122,1654,037,922,037,922----FUNDBALANCE,Ending$3,476,917$3,990,266$4,631.244$-640,978SeetheaccompanyingIndependentAuditors’Report.36
TOWNOFESTESPARK.COLORADOCONVENTION/VISITORBUREAUFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,200$VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESChargesForServices$737,$69$856,981$$56,421$(560)tnvestmentIncome6,9504,6007,5562,956Miscellaneous-99,300158,406148,044(10,362)TOTALREVENUES844,1191,019,9871,012,021(7,966)EXPENDITURESCurrentCultureandRecreation-2,746,4752,947,4832,876,19371,290TOTALEXPENDITURES2,746,4752,947,4832,876,19371,290EXCESSOFREVENUESOVER(UNDER)EXPENDITURES(1,902,356)(L927,496)(1,864,172)63,324OTHERFINANCINGSOURCESTransfersIn1,875,0001,875,0001,875,000-NETCl-lANGEINFUNDBALANCE(27.356)(52,496)10.82$63,324FUNDBALANCE,Beginning60,971139.303139.303-FUNDBALANCE,Ending$33.615$86.807$150.131$63,324SeetheaccompanyingIndependentAuditorsReport.37
TOWNOFESTESPARK,COLORADONOTESTOREQUIREDSUPPLEMENTARYINFORMATIONDecember31,200$NOTE1:STEWARDSHIP,COMPLIANCEANDACCOUNTABILITYBudgetsandBudgetaryAccountingTheTownfollowstheseproceduresinestablishingthebudgetarydatareflectedinthefinancialstatements:InOctober,theTownadministrationsubmitstotheBoardofTrusteesaproposedoperatingbudgetforthefiscalyearcommencingthefollowingJanuary1.Theoperatingbudgetincludesproposedexpendituresandthemeansoffinancingthem.•Publichearingsareconductedtoobtaintaxpayercomments.•PriortoDecember31,thebudgetislegallyenactedthroughpassageofaresolution.•TheTownadministrationisauthorizedtotransferbudgetedamountsbetweendepartmentswithinanyfund.However,anyrevisionsthatalterthetotalexpendituresofanyfundmustbeapprovedbytheBoardofTrustees.•BudgetsarelegallyadoptedforallfundsoftheTown,exceptthefiduciaryfunds.BudgetaryinformationisnotpresentedfortheCatastrophicLossInternalServicefundbecausenoexpenditureswereincurredduringtheyear.Budgetsforthegovernmentalfundsareadoptedonabasisconsistentwithgenerallyacceptedaccountingprinciples(GAAP).Budgetarycomparisonsfortheenterpriseandinternalservicefundsarepresentedonanon-GAAPbudgetarybasis.Capitaloutlayanddebtserviceprincipalarebudgetedasexpendituresanddepreciationisnotbudgeted.•Allbudgetappropriationslapseatyearend.Coloradogovernmentsmaynotexceedbudgetedappropriationsatthefundlevel.38
COMBININGANDINDIVIDUALFUNDFINANCIALSTATEMENTSANDSCHEDULES
TOWNOFESTESPARK.COLORADOCOMBININGBALANCESHEETNONMAJORGOVERNMENTALFUNDSDecember31,200$SPECIALREVENUECOMMUNITYCONSERVATIONOPENREINVESTMENTMUSEUMTRUSTSPACEASSETS-CashandInvestmentsS1,504,115$71,909$133,324$397,333AccountsReceivable40.9142,721-48,152PrepaidExpenditures---$3--TOTALASSETSS1,545,029$74,713$133,324$445,485LIABILITIESANDFUNDBALANCESLIABILIlIESAccountsPayable$14,578S21,358$-S27,910AccruedLiabilities45,5988.483-1,408DeferredRevenues--—--24,415TOTALLIABILITIES--60,17629,84153,733FUNDBALANCESReservedforPrepaidExpenditures-83--Unreserved,ReportedinSpecialRevenueFunds1,484.85344,789133,324391,752TOTALFUNDBALANCES1.484.85344,872133,324391,752TOTALLIABILITIESANDFUNDBALANCESS1.545,029574.713$133,3245445,485SeetheaccompanyingIndependentAuditors’Report.39
DEBTSERVICEURBANSENIORFIRERENEWALBUILDINGCITIZENSSERVICESAUTHORITYAUTHORITYTOTAL$13,332$547,1105109,565$-$2,776,6883,29431,608--126,689--45-1,634______-1,762$16,671$578,718$111,199$-$2,905,139$4,577$4,538$8,0105-$80,9714,61611,127--71,232—562-24,9779,75515,6658,010-177,180451,634-1,7626,871563,053101,555-2,726,197---6,916563,053103,1892,727,959$16,671$578,718$111,199$-$2.905.139
TOWNOFESTESPARK,COLORADOCOMBININGSTATEMENTOfREVENUES.EXPENDITURESANDCHANGESINFUNDBALANCESNONMAJORGOVERNMENTALfUNDSYearEndedDecember31,2008SPECIALREVENUECOMMUNITYCONSERVATIONOPENREINVESTMENTMUSEUMTRUSTSPACEREVENUEStntergovemmental$-$-$30,254$255,630ChargesforServices-2,477--RentalIncome----InvestmentIncome50,8042,2304.40416,357Miscellaneous-36030,981--TOTALREVENUES51.16435,68834,658271,987EXPENDITURESCurrentGeneralGovernment--PublicSafety----PublicWorks369---CultureandRecreation-308,301--CapitalOutlay144,993-10,222317,892DebtServicePrincipal213,675---InterestandfiscalCharges3,450-----TOTALEXPENDITURES362.487308,30110,222317,892EXCESSOFREVENUESOVER(UNDER)EXPENDITURES(311,323)(272,613)24.436(45,905)OTHERFINANCINGSOURCESTransfersIn650,000240,849--NETCHANGEINFUNDBALANCES338.677(31,764)24,436(45,905)FUNDBALANCES,Beginning1,146.17676,636108,888437,657FUNDBALANCES,Ending$1,484,853$44,872$133,324$391,752SeetheaccompanyingIndependentAuditorsReport.40
DEBTSERVICEURBANSENIORFIRERENEWALBUILDINGCITIZENSSERVICESAUTHORITYAUTHORITYTOTAL$2,475$$36S-$-$2$9,19512,608200,364--215,449---93,45993,459-16,7598,334-98,88829,42812,730106-73,605-44,511230,689-8,44093,459770,596-207,390207,390588,663-588,663---369200,321---508,622----473,107---84.000297,675---9.45912.909200,321588,663207,39093,4592,088,735(155,810)(357,974)(198,950)-(1.318.139)149,569921,027200,000-2.161,445(6,241)563,0531,050-$43,30613,157-102,139-1.884,653$6,916$563,053$103,189$-$2,727,959
TOWNOFESTESPARK,COLORADOCOMMUNITYREINVESTMENTFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESInvestmentIncome$50,000$36,000$50,804$14,804Miscellaneous--360-360TOTALREVENUES50,00036,0005116415,164EXPENDITURESCurrentPublicWorks267,12543,82536943,456CapitalOutlay4,250,000177,749144,99332,756DebtServicePrincipal430,000217,125213.6753,450InterestandFiscalCharges--3.450(3,450)TOTALEXPENDITURES4,947,125438,699362.48776,212EXCESSOFREVENUESOVER(UNDER)EXPENDITURES(4,897,125)(402,699)(311.323)-91,376OTHERFINANCLNGSOURCESDebtProceeds3,850,000---TransfersIn650,000650,000650.000TOTALOTHERFINANCINGSOURCES4,500,000650,000650,000----NETCHANGEINFUNDBALANCE(397,125)247.301338.67791,376FUNDBALANCE.Beginning1,044,4581,146,1761,146.176FUNDBALANCE,Ending$647.333$1,393.477$1.484,853$91,376SeetheaccompanyingIndependentAuditors’Report.41
TOWNOFESTESPARK,COLORADOMUSEUMFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESChargesforServices$1,400$2,385$2,477$92InvestmentIncome2,4001,6502,230580Miscellaneous33,12537,19930,981(6.218)TOTALREVENUES36,92541,23435,688(5,546)EXPENDtTURESCurrentCultureandRecreation307,914312,387308,3014.086EXCESSOFREVENUESOVER(UNDER)EXPENDITURES(270,989)(271,153)(272,613)(1.460)OTHERFINANCINGSOURCESTransfersIn240,849240,849240,849-NETCl-lANGEINFUNDBALANCE(30,140)(30,304)(31,764)(1,460)FUNDBALANCE,Beginning61,918----76,63676,636-FUNDBALANCE,Ending$31,778$46,332$44.872$(1.460)SeetheaccompanyingIndependentAuditors’Report.42
TOWNOFESTESPARK,COLORADOCONSERVATIONTRUSTFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,200$VARIANCEORIGINALFINALPositiveBUDGETBUDGETAcIUAL(Negative)REVENUESIntergovernmentalS32,000$32.000$30,254S(1,746)InvestmentIncome3,0003,200--4,4041,204TOTALREVENUES35,00035,20034,658(542)EXPENDITURESCapitalOutlay32,01237,51210,22227,290NETCHANGEINFUNDBALANCE2,988(2,312)24,43626,748FUNDBALANCE,Beginning99,680108,887-108,888FUNDBALANCE,Ending$102,668$106.575$133,324$26,749SeetheaccompanyingIndependentAuditors’Report.43
TOWNOFESTESPARK.COLORADOOPENSPACEFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESIntergovernmental$240,000S240,000$255,630515,630InvestmentIncome19,00012,50016,3573,857TOTALREVENUES259,000252,500271.98719,487EXPENDITURESCapitalOutlay350,000462,028317,892144,136NETCHANGEINFUNDBALANCE(91,000)(209,528)(45,905)163,623FUNDBALANCE,Beginning305,629437,657437,657-FUNDBALANCE,Ending$214,629$228,129$391,752$-163,623SeetheaccompanyingIndependentAuditors’Report.44
TOWNOFESTESPARK,COLORADOSENIORCITIZENSFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESIntergovernmental$2,475S2,475S2,4755-ChargesforServices38,21514,00512,608(1,397)Miscellaneous-31,78829,428(2,360)TOTALREVENUES40,690-48,26844,511(1757)EXPENDITURESCurrentCultureandRecreation198,446--203,813200,3213,492EXCESSOFREVENUESOVER(UNDER)EXPENDITURES(157,756)(155,545)(155,810)(265)OTHERFINANCINGSOURCESTransfersIn-149,569-——149,569149.569-NETCHANGEINFUNDBALANCE(8,187)(5,976)(6,241)(265)FUNDBALANCE,Beginning8,491-—13,15713,157-—FUNDBALANCE,Ending$304$7,181S6,9165(265)SeetheaccompanyingIndependentAuditors’Report.45
TOWNOFESTESPARK,COLORADOFIRESERVICESFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,200$VARIANCEORIGiNALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESIntergovermnental$-S10,000S$36$(9,164)ChargesforServices-170,517200,36429,847InvestmentIncome-10,80016,7595,959Miscellaneous16,60012,730(3.870)TOTALREVENUES207,917230,68922.772EXPENDITURESCurrentPublicSafety996,105588,663407,442EXCESSOFREVENUESOVER(UNDER)EXPENDITURES-(788,188)(357.974)430.214OTHERFINANCINGSOURCESTransfersIn921.027--921,027-NETCHANGEINFUNDBALANCE-132,839563.053430,214FUNDBALANCE,Beginning----FUNDBALANCE,Ending$-$132,839$563.053$430,214SeetheaccompanyingIndependentAuditors’Report.46
TOWNOFESTESPARK.COLORADOURBANRENEWALAUTHORITY(SPECIALREVENUE)BUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL-(Negative)REVENUESInvestmentIncome$10,000$10.000$8.334S(1.666)Miscellaneous--106106TOTALREVENUES10,00010.0008.440(1.560)EXPENDITURESCurrentGeneralGovernment210.000210,000207,3902,610TOTALEXPENDITURES210.000210.000207.3902.610EXCESSOFREVENUESOVER(UNDER)EXPENDITURES(200,000)(200.000)(198,950)----1,050OTHERFINANCINGSOURCES(USES)TransfersIn200.000200.000200.000-TransiërsOut-(100,000)—-100,000TOTALOTHERFINANCINGSOURCES(USES)--200,000100,000200,000-100,000NETCHANGEINFUNDBALANCE-(100,000)1,050101,050FUNDBALANCE,Beginning102,139102,139102.139-FUNDBALANCE,Ending$102,139$2,139$103.189$101,050SeetheaccompanyingIndependentAuditors’Report.47
TOWNOfESTESPARK,COLORADOURBANRENEWALAUTHORITY(CAPITALPROJECTS)BUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFLNALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESMiscellaneous$-$-$3,000$3,000TOTALREVENUES-3,0003,000EXPENDITURESCapitalOutlay1,500,0001,500,000615,377$84,623TOTALEXPENDITURES1,500,0001,500,000615,377884,623EXCESSOfREVENUESOVER(UNDER)EXPENDITURES(1,500,000)(1,500,000)(612,377)$87,623OTI-IERFINANCINGSOURCESTransfersIn1,500,0001,700,000616,877(1,083,123)NETCHANGEINFUNDBALANCE-200,0004,500(195,500)FUNDBALANCE,Beginning131,099131,099131.099fUNDBALANCE(DEFICIT).Ending$131,099$331,099$135,599$(195,50Q)SeetheaccompanyingIndependentAuditors’Report.4$
TOWNOFESTESPARK.COLORADOURBANRENEWALAUTHORITY(DEBTSERVICE)BUDGETARYCOMPARLSONSCHEDULEYearEnded[)ecember31,200$VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESIncrementalPropertyTaxes$689,321S925,000$946,636521.636RentalIncome214.766217,125217.125-InvestmentIncome20,00020,00017.070(2.930)TOTALREVENUES924,0871,162,1251,180.83118.706EXPENDITURESDebtServicePrincipal$95,000895,000895.000-InterestandFiscalCharges29,08717,544-14,5443,000TOTALEXPENDITURES924,087912.544909.5443.000EXCESSOFREVENUESOVER(UNDER)EXPENDITURES-249,581271.28721.706OIlIERFINANCINGSOURCES(USES)TransfersOut(1,600,000)(616.877)983.123NETCHANGE[NFUNDBALANCE-(1,350,419)(345.590)1,004,829FUNDBALANCE,Beginning1,368,9721,368,9721.368.972-FUNDBALANCE.Ending$1,368,972$18,553$-1,023.382$1,004,829SeetheaccompanyingIndependentAuditors’Report.49
TOWNOFESTESPARK.COLORADOBUILDINGAUTHORITYBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,200$ORIGINALVARIANCEANDFINALPositiveBUDGETACTUAL(Negative)REVENUESRentalIncome$93,460S93,459$(1)TOTALREVENUES93,46093,459(I)EXPENDITURESDebtServicePrincipal84,000$4,000-InterestandFiscalCharges9,4609,459-TOTALEXPENDITURES93,46093,459NETCHANGEINFUNDBALANCE-FUNDBALANCE,Beginning--FUNDBALANCE,Ending$-$-$SeetheaccompanyingIndependentAuditors’Report.50
TOWNOFESTESPARK.COLORADOLIGHTANDPOWERFUNDBUDGETARYCOMPARISONSCF{EDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESUtilitySales$10,784,638$10.694,161$11.005,740S311,579Miscellaneous424,583506,715627,549120,834InvestmentIncome150,000290,559362,75572,196TOTALREVENUES11,359,22111,491,43511,996,044504,609EXPENDITURESCurrentSourceofSupply5,163,4445,171,5494,863.285308,264Distribution1,741,1111,760,5281,627,730132,798CustomerAccounts716,341682,207655,46826,739AdministrationandGeneral1,865,0821.689,2961,411,420277,876CapitalOutlay6,562,0005,714,3215,254,660459,661DebtServicePrincipal-445.000445,000-Interest760,000302,676326,848(24,172)TransfersOut-908,390908,390933,705-(25,315)TOTALEXPENDITURES17,716,36816,673,96715,518,1161,155,851ChANGEINNETASSETS.BudgetaryBasis$(6,357j47)$(5.182,532)(3,522,072)$1,660,460ADJUSTMENTSTOGAAPBASISDebtPrincipalPayments445,000CapitalOutlay5,254,660DepreciationandAmortization(678.207)CHANGEINNETASSETS,GAAPBasis1,499.38INETASSETS.Beginning14,452,182NETASSETS,Ending$15,951,563SeetheaccompanyingIndependentAuditors’Report.51
TOWNOFESTESPARK,COLORADOWATERFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESUtilitySales$3,276,554$2,645,554$2,816,150$170,596Miscellaneous11,676103,79754,734(49,063)InvestmentIncome140,000121,050163,59642,546Tapfees-560,000311,853(248,147)DebtProceeds4,900,0005,465,0005,494,41029,410TOTALREVENUES8,328,2308,895,4018,840,743(54,658)EXPENDITURESCurrentSourceofSupply160,560160,560141,47119,089Purification605,640640,249562,74277,507Distribution$36,446$87,275858.26629,009CustomerAccounts338,470327,627296.61231,015AdministrationandGeneral$82,027620,184372,821247,363CapitalOutlay4,977,5776,641,9212,574.3444,067,577DebtServicePrincipal-250,000250.000-Interest740,111271,681115,224156,457DebtIssuanceCosts--51,735(51,735)TransfersOut99,22199,221105.677(6,456)TOTALEXPENDITURES8,640,0529,898,7185.328.8924,569,826CHANGEINNETASSETS,BudgetaryBasis$(311,822)$(1,003,317)3,511.851S4,515,168ADJUSTMENTSTOGAAPBASISDebtProceeds(5.494,410)DebtPrincipalPayments250,000DebtIssuanceCosts51,735CapitalOutlay2,574,344Depreciation(467,721)CHANGEINNETASSETS,GAAPBasis425,799NETASSETS,Beginning19.873,579NETASSETS,Ending520.299.378SeetheaccompanyingIndependentAuditorsReport.52
TOWNOFESTESPARK.COLORADOCOMBININGSTATEMENTOFNETASSETSINTERNALSERVICEFUNDSDecember31,200$FLEETVEHICLECATASTROPHICMAINTENANCEREPLACEMENTLOSSASSETSCurrentAssetsCashandInvestmentsS277,643$1,607,879S1.909,395AccountsReceivable-5,000-InterestReceivable-1.143Inventories28,179--TOTALCURRRENTASSETS305,8221,612,8791,910,538NoncurrentAssetsNotesReceivable-515,067CapitalAssets,NetofAccumulatedDepreciation20,068-TOTALNONCURRRENTASSETS-20,068-515,067TOTALASSETS325,8901,612,8792,425,605LIABILITIESCurrentLiabilitiesAccountsPayable15,115--AccruedLiabilities8,215--InsuranceClaimsPayable---CompensatedAbsences.CurrentPortion--13,985-TOTALCURRENTLIABILITIES37,315--NoncurrentLiabilitiesPostemploymentBenefits--TOTALLIABILITIES37,315--NETASSETSInvestedinCapitalAssets20,068--RestrictedforEmergencies--563,000Unrestricted268,507-1,612,8791,862,605TOTALNETASSETS$288,575$1,612,879$2.425,605SeetheaccompanyingIndependentAuditors’Report.53
HEALTHINFORMATIONINSURANCETECHNOLOGYTOTAL$516,247$131,818$4,442,982455-5,455--1,143--28,179516,702131,8184,477,759--515,06715,85635,924-15,856550,991516,702-147,6745,028,750-5,36320,478-8,89817,113140,266-140,266-19.40$33,393140,26633,669211,2506,619-6,619146,88533,669217,869-15,85635,924--563,000369,81798,1494,211,957$369.817$114,005$4,810,881
TOWNOFESTESPARK.COLORADOCOMBININGSTATEMENTOFREVENUES.EXPENSESANDCHANGESINFUNDNETASSETSINTERNALSERVICEFUNDSYearEndedDecember31,2008FLEETVEHICLECATASTROPHICMAINTENANCEREPLACEMENTLOSSOPERATINGREVENUESChargesforServices$263.699$537,641$Miscellaneous7795,000TOTALOPERATINGREVENUES264.478542,641OPERATINGEXPENSESSalariesandBenefits190,900-Supplies10.191-Utilities6,369-Training5,345-Insurance1,777-MaintenanceandRepairs26,576178,771ProfessionalFees9,287-Depreciation3,039-HealthBenefitsTOTALOPERATINGEXPENSES253,484178,771OPERATINGINCOME(LOSS)10.994363,870NONOPERATINGREVENUESInvestmentIncome-7,70654.07792,180TOTALNONOPERATINGREVENUES7.70654,07792,180CHANGEINNETASSETS18.700417.94792.180NETASSETS.Beginning269.8751.194.9322.333.425NETASSETS.Ending$288,575$1.612,879$2.425.605SeetheaccompanyingIndependentAuditorsReport.54
HEALTHINFORMATIONINSURANCETECHNOLOGYTOTAL$366,553$366,14751,534.0406,9831,1513.947373,536367,3321,547,987-207,364398.264-19,76429.955-25,62231,991-1,9297,274-1,0552.832-71,133276A$0--9.287-6,3439,382418,124-418.124418,124333,2101.183.589(44,588)34,122364.39819,6322,638176,23319,6322,638176.233(24,956)36,760540.631394,77377,2454.270,250$369,817$114,005$4,810,881
TOWNOFESTESPARK.COLORADOCOMBININGSTATEMENTOFCASHFLOWSINTERNALSERVICEFUNDSIncrease(Decrease)inCashandCashEquivalentsYearEndedDecember31,200$FLEETVEHICLECATASTROPHICMAINTENANCEREPLACEMENTLOSSCASHFLOWSFROMOPERATINGACTIVITIESCashReceivedfromCustomers$263,699S537.641$-CashReceivedfromOtherSources779--CashPaidtoSuppliers(64.235)(178.771)CashPaidtoEmployees(188.935)-NetCashProvided(Used)byOperatingActivities11.30$358.870CASHFLOWSFROMNONCAPITALFINANCINGACTIVITIESLoanPaymentsReceived---209,733NetCashProvidedbyNoncapitalFinancingActivities-209.733CASHFLOWSFROMINVESTINGACTIVITIESInterestReceived7.70654,077114.058NETINCREASE(DECREASE)INCASHANDCASHEQUIVALENTS19,014412,947323.791CASt-IANDCASHEQUIVALENTS,Beginning258.6291.194,9321,585.604CASI-IANDCASHEQUIVALENTS,Ending$277,643$1,607.879$1,909,395RECONCILIATIONOFOPERAT[NGINCOMETONETCASHPROVIDED(USED)BYOPERATINGACTIVITIESOperatingIncome(Loss)$10,994363,870$-AdjustmentstoReconcileOperatingIncome(Loss)toNetCashProvided(Used)byOperatingActivitiesDepreciation3,039--ChangesinAssetsandLiabilitiesAccountsReceivable(5,000)-Inventories(3,808)-PrepaidExpenses---AccountsPayable(882)--AccruedLiabilities1,812--InsuranceClaimsPayable---CompensatedAbsences153--PostemploymentBenefits---TotalAdjustments314(5,000)-NetCashProvided(Used)byOperatingActivities$II,308$358,870$-SeetheaccompanyingIndependentAuditors’Report.55
HEALTHINFORMATIONINSURANCETECHNOLOGYTOTAL$370,563$366,147$1,538,0506,9831,1858,947(398,202)(71,228)(712,436)-(200,779)(389,714)(20,656)95,325444,847209,733209,73319,6322,638198,111(1,024)97.963$52,691517,27133,8553,590,291$516,247$131,818$4,442,982$(44,588)S34,122$364,398-6,3439,3824,010-(990)--(3,808)15050.66050,810(4,805)(2,385)(8.072)-3,0424,85417,958-17,958-3,5433,6966,619-6,61923,93261,20380,449$(20,656)$95.325$14,847
TOWNOFESIESPARK,COLORADOFLEETMAINTENANCEFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESChargesforServices$270,000260,000S263.699S3,699Miscellaneous-120779659InvestmentIncome8.0005.8007.7061,906TOTALREVENUES278.000265,920272.1846.264EXPENDITURESSalariesandBenefits207,311199,036190,9008,136Supplies9,57510,38110.191190Utilities8,5308,4156.3692.046Training3,5806,0515.345706Insurance2,6631,8021,77725MaintenanceandRepairs29,78725,82726.576(749)ProfessionalFees6,5609,8019.287514TOTALEXPENDITURES268.006261.313250.44510,868CHANGEINNETASSETS,BudgetaryBasis$9,994$-4.60721.739$17,132ADJUSTMENTSTOGAAPBASISDepreciation-(3.039)CHANGEINNETASSETS,GAAPBasis18.700NETASSETS,Beginning269,875NETASSETS,EndingS288.575SeetheaccompanyingIndependentAuditors’Report.56
TOWNOFESTESPARK.COLORADOVEHtCLEREPLACEMENTFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESChargesforServicesS537,641$537,641$537,641SMiscellanous--5,0005,000InvestmentIncome36.00038,00054,07716.077TOTALREVENUES571641575,641596.71821.077EXPENDITURESMaintenanceandRepairs208.500208,500178,77129.729CHANGEINNETASSETS$365.141$367,141417,947$50.806NETASSETS,Beginning1,194.932NETASSETS,Ending$1.612,879SeetheaccompanyingIndependentAuditors’Report.57
TOWNOfESTESPARK.COLORADOHEALTHINSURANCEfUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,2008VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESChargesforServices$407,600$410,000$366,553$(43,447)Miscellaneous2,5006,2376,983746InvestmentIncome-20,00014,25019,6325,382TOTALREVENUES430,100430,487393,168(37,319)EXPENDITURESHealthBenefits422,481424371418,124-6,247TOTALEXPENDITURES422,481424,371418,124-6,247CHANGEINNETASSETS$7,619$6,116(24,956)$-(31,O7NETASSETS,Beginning-394,773NETASSETS,Ending$369,817SeetheaccompanyingIndependentAuditorsReport.58
TOWNOFESTESPARK,COLORADOINFORMATIONTECHNOLOGYFUNDBUDGETARYCOMPARISONSCHEDULEYearEndedDecember31,200$VARIANCEORIGINALFINALPositiveBUDGETBUDGETACTUAL(Negative)REVENUESChargesforServices$386,145S386,147$366,147$(20,000)Miscellaneous-5001,1856$5InvestmentIncome---1,2002,6381,438TOTALREVENUES386,145387,847369,970(17,877)EXPENDITURESSalariesandBenefits213,789206,430207.364(934)Supplies47,87747,87719.76428,113Utilities24,00026,88025.6221,258Training-4,6601.9292,731Insurance-1,0551.055-MaintenanceandRepairs--105,601100,98571.13329,852TOTALEXPENDITURES--391,267387,887326.86761,020CHANGEINNETASSETS,BudgetaryBasis$(5.122)S(40)43.103S43,143ADJUSTMENTSTOGAAPBASISDepreciation(6.343)CHANGEINNETASSETS.GAAPBasis36.760NETASSETS,Beginning77,245NETASSETS,Ending$114.005SeetheaccompanyingIndependentAuditorsReport.59
TOWNOFESIESPARK.COLORADOCOMBININGSTATEMENTOFChANGESINASSETSANDLIABILITIESAGENCYFUNDYearEndedDecember31,200$BALANCEBALANCE12/31/07ADDITIONSDEDUCTIONS12/31/08FriendsofStanleyHallASSETSCashandInvestments$442,582$I1,901$255$454,228LIABILITIESDuetofriendsofStanleyHalt$442,582$11,901$-255$=454,228SeetheaccompanyingIndependentAuditors’Report.60
StatisticalSectionThissectionoftheTownofEstesParkComprehensiveAnnualFinancialReportpresentsdetaileddataasacontextforunderstandingtheinformationinthefinancialstatements,notedisclosures,andrequiredsupplementaryinformation.ContentsSchedulesPagesFinancialTrendsTheseschedulescontaintrendinformationtohelpthereaderunderstandhowtheTown’sfinancialconditionhaschangedovertime.1-461-65RevenueCapacityTheseschedulescontaininformationtohelpthereaderassesstheTown’slargestrevenuesource,salesandusetaxes.5-766-68DebtCapacityTheseschedulespresentinformationtohelpthereaderassesstheaffordabilityoftheTown’scurrentlevelsofoutstandingdebtandtheTown’sabilitytoissuedebtinthefuture.8-1169-72DemographicandEconomicInformationTheseschedulesofferdemographicandeconomicindicatorstohelpthereaderunderstandtheenvironmentwithinwhichtheTown’sfinancialactivitiestakeplace.12-1373-74OperatingInformationTheseschedulescontainservicedatatohelpthereaderunderstandhowinformationinthefinancialreportrelatestotheservicestheTownprovidesandtheactivitiesitperforms.14-1675-77
Schedule;TownofEstesPark,ColoradoNetAssets(accrualbasisofaccounting)20042005200620072008GovernmentalActivitiesInvestedincapitalassets,netofrelateddebt$12,306,359$41,002,600$42,728,991$43,547,869$43,143,611Restricted3,980,0742,948,3582,609,9992,092,071698,599Unrestricted11,027,83111,616,22610,781,18710,030,68212,029,735Totalgovernmentalactivitiesnetassets$27,314,264$55,567,184$56,120,177$55,670,622$55,871,945Business-typeActivitiesInvestedincapitalassets,netofrelateddebl$22,657,616$23,103,614$23,256,846$23,789,534$25,615,443Restricted$-$-$-$-$-Unrestricted6,053,8147,313,25810,044,96211,636,02911,897,489Totalbusiness-typeactivitiesnetassets$28,711,430$30,416,872$33,301,808$35,425,563$37,512,932PrimaryGovernmentInvestedincapitalassets,netofrelateddebt$34,963,975$64,106,214$65,985,837$67,337,403$68,759,054Restricted3,980,0742,948,3582,609,9992,092,071698,599Unrestricted17,081,64518,929,48420,826,14921,666,71123,927,224Totalprimarygovernmentalnetassets$56,025,694$85,984,056$89,421,985$91,096,185$93,384,877Infrastructurenotlisteduntil2005CAFRSource:Currentandprioryears’financialstatementsGASB34implementedin200361
Schedule2TownofEstesPark,ColoradoChangesinNetAssets(accrualbasisofaccounting)20042005200620072008ExpensesGovernmentalActivities:GeneralGovernment$3,146,405$2,541,570$3,822,578$3,420,170$3,625,086PublicSafety2,808,1043,235,3883,090,5705,747,5693,717,226PublicWorks838,7842,549,3361,905,6872,197,5761,933,301CultureandRecreation1,808,4163,262,3413,918,8542,101,8105,022,994InterestonLong-TermDebt333,453129,69996,73265,61940,641Totalgovernmentalactivitiesexpenses8,935,16211,718,33412,834,42113,532,74414,339,248Business-typeActivities:Light&Power8,297,2238,416,5438,383,2388,693,9359,437,652Water2,457,0212,380,1792,627,2972,687,0002,777,973Totalbusiness-typeactivitiesexpenses10,754,24410,796,72211,010,53511,380,93512,215,625Totalprimarygovernmentalexpenses$19,689,406$22,515,058$23,844,956$24,913,679$26,554,873ProgramRevenuesGovernmentalactivities:Chargesforservices:GeneralGovernment$510,825$582,716$844,652$874,957$864,906PublicSafety403,367524,523452,406594,475712,965PublicWorks8,54710,93720,9188,65511,395CultureandRecreation403,071599,783848,685882,3921,141,585Operatinggrantsandcontributions668,7801,049,090895,340735,916860,994Capitalgrantsandcontributions247,79436,39032,72976,15325,378Totalgovernmentalactivitiesprogramrevenses2,242,3842,803,4393,094,7303,172,5483,617,223Business-typeActivities:Light&Power8,688,4089,384,81910,097,23110,446,23011,005,740Water2,137,9062,253,4912,476,4672,577,4822,816,150Capitalgrantsandcontributions560,837848,319609,468688,403311,853Totalbusiness-typeactivitiesprogramrevenues11,387,15112,486,62913,183,16613,712,11514,133,743Totalprimarygovernmentprogramrevenues$13,629,535$15,290,068$16,277,896$16,884,663$17,750,966Net(Expense)/RevenueGovernmentalactivities$(6,692,778)$(8,914,895)$(9,739,691)$(10,360,196)$(10,722,025)Business-typeactivities632,9071,689,9072,172,6312,331,1801,918,118Totalprimarygovernmentnetexpenses$(6,059,871)$(7,224,988)$(7,567,060)$(8,029,016)$(8,803,907)62
Schedule2(continued)TownofEstesPark,ColoradoChangesinNetAssets(accrualbasisofaccounting)Business-typeactivities:UnrestrictedgrantsandcontributionsInvestmentincomeMiscellaneousTransfersTotalbusiness-typeactivitiesTotalprimarygovernment$66,999170,570433,632775,116(931,982)t930,151)(431,351)15,535$9,120,096$9,832,223$-$211,513499,506635,958323,170(989,788)(1,030,101)(142,317)(207,425)$10,150,367$10,759,984526,351682,283(1,039,382)169,252$11,092,600$2,858,669201,556$3,060,225$901,7931,705,442$2,607,235$552,9932,030,314$2,583,307$607,2132,123,755$2,730,968$201,3232,087,369$2,288,692Source:Currentandprioryear’sfinancialstatementsGASB34implementedin2003Taxes20042005200620072008Salestaxes$6,308,376$6,427,942$6,771,295$7,239,214$7,186,720Propertytaxes1,099,499936,5641,028,8961,134,8001,261,959Franchisetaxes376,816387,100401,432414,286425,244Usetaxes-202,182202,666209,103186,294Unrestrictedgrantsandcontributions334,059321,844---Investmentincome137,775355,351649,528675,203480,105Miscellaneous362,940255,554249,079264,702343,644Gain(Loss)onsaleofcapitalassets-----Transfers931,982930,151989,7881,030,1011,039,382Totalgovernmentalactivities9,551,4479,816,68810,292,68410,967,40910,923,348ChangesinNetAssetsGovernmentalactivitiesBusiness-typeactivitiesTotalprimarygovernment63
Schedule3TownofEstesPark,ColoradoFundBalances,GovernmentalFunds(modifiedaccrualbasisofaccounting)20042005200620072008GeneralFundReserved$-$-$-$13,419$8,843Unreserved5,626,9074,109,2302,849,0394,024,5034,622,401Totalgeneralfund$5,626,907$4,109,230$2,849,039$4,037,922$4,631,244AllotherGovernmentalFundsReserved$1,028,706$1,050,540$876,719$15,682$18,787Unreserved,reportsin:Specialrevenuefunds2,918,9933,599,8563,361,8322,008,2742,859,303Capitalprojectsfunds2,205,9611,157,848651,177131,099135,599Debtservicefunds1,289,1131,305,5101,414,8221,368,9721,023,382Totalallothergovernmentalfunds$7,442,773$7,113,754$6,304,550$3,524,027$4,037,071Totalgeneralfund-fallothergovtfunds$13,069,680$11,222,984$9,153,589$7,561,949$8,668,315Source:Currentandprioryear’sfinancialstatementSGASB34implementedin200364
Schedule4TownofEstesPark,ColoradoChangesinFundBalances,GovernmentalFunds(modifiedaccrualbasisofaccounting)20042005200620072008RevenuesTaxes$7,784,691$7,953,788$8,404,289$8,997,403$9,060,217Licenses,feesandpermits580,387729,317644,996665,053623,762Intergovernmental974,238793,4731,317,362857,6641,847,978Chargesforservices414,855555,438667,190737,3001,130,773Finesandforfeitures25,14429,25828,06241,55255,700RentalIncome469,656475,195473,442474,421482,159InvestmentIncome114,589295,700525,148434,266303,872Miscellaneous465,175437,273535,414669,018675,761Totalrevenues10,828,73511,269,44212,595,90312,876,67714,180,222ExpendituresGeneralGovernment3,209,1932,216,4413,569,7472,735,2912,564,815PublicSafety2,953,9983,043,6783,090,8823,273,5033,555,245PublicWorks789,616866,2691,170,8631,280,1481,374,453CultureandRecreation1,736,3173,165,1213,652,6703,972,7274,310,113Capitaloutlay2,053,7853,529,8562,960,6973,026,6901,088,484DebtServicePrincipal1,357,5231,106,1581,109,3001,144,1611,192,675InterestandFiscalCharges146,104118,766100,92765,89827,453Totalexpenditures12,246,53614,046,28915,655,08615,498,41814,113,238Excessofrevenuesover(under)expenditures(1,417,801)(2,776,847)(3,059,183)(2,621,741)66,984OtherFinancingSources(Uses)Transfersin5,472,4336,146,1724,711,9145,262,5205,692,704Transfersout(4,540,451)(5,216,021)(3,722,126)(4,232,419)(4,653,322)BondProceeds/premiums/Escrowactivity-----Totalotherfinancingsources(uses)931,982930,151989,7881,030,1011,039,382Netchangeinfundbalances$(485,819)$(1,846,696)$(2,069,395)$(1,591,640)$1,106,366Debtserviceasapercentageofnoncapitalexpenditures14.8%11.6%9.5%9.7%9.4%CapitalassetadditionsfromNotestoFinancialStatements2,340,3753,854,9044,953,6124,018,9441,594,292Debtserviceasapercentageofnoncapitalexpenditures15.2%12.0%11.3%10.5%9.7%(usingcapitalassetadditionsfromNotestoFinancialStatements)Source:Currentandprioryear’sfinancialstatementsGASB34implementedin200365
Schedule5TownofEstesPark,ColoradoSalesTaxRevenuebyTypeofIndustryGeneralPersonal/MerchandiseLumber&ProfessionalFoodFurniture(Retail)LodgingBuildingServicesUtilitiesTotalSalesTaxindividualcategoriesnotavailablefor2001.Dataextrapolatedfromsurroundingyears,2001totalrevenueisaccurate.Source:TownofEstesParkSalesandUseTaxReportsGASB34implementedin2003FiscalAmusement/YearRecreationApparelArts&CraftsAutomotive199940,015302,843107,340200044,166309,570130,667200145,951322076135,946200231,933211,70684,106200334,075237,15883,539200442,658297,81987,699200539,368275,631103,945200645,809266,136137,832200747,801250,389125,692200852,581mcIwfretailmciw/retailSalestaxrate:4.00%136,2531,904,54147,5791,132,6701,097,540418,66088,860352,7425,629,044177,7191,953,72566,8551,155,9031,168,160439,22992,885382,3005.921,155184,8982,032,64969,5551,202,5961,215,3504S6,97296,637397,7186,160,350232,3542,041,65783,5681,232,5691,223,524385,51999817411,7606,038,513205,9802,109,01371,5191,220,2001,246,740396,906109,430456,6656,171,226175,S442,069,79683,2691,111,9001,342,550477,895112,442500,8836,302,454117,6182187,75095,5031,052,1191,423,542435,94798,716592,7436,422,882131,7462,290,81092,9411,120,5501,607,270439,14889,382545,4946,767,120141,6602,449,33085,9711,220,0491,813,978382,99676,347645,0007,239,214135,7892,602,655intlw/retail1,475,0741,771,509443,856110,366594,8907,186,72066
Schedule6GASB34implementedin2003TownofEstesPark,ColoradoDirectandOverlappingSalesTaxRatesSource:ColoradoDepartmentofRevenueCityDirectRateFiscalTownofYearEstesParkOverlappingRatesStateofLarimerColoradoCounty1999200020012002200320042005200620072008TotalDirectSalesTaxRate4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%TotalOverlappingSalesTaxRate6.90%6.90%6.90%7.70%7.70%7.70%7.70%7.70%7.70%7.70%2.90%2.90%2.90%2.90%2.90%2.90%2.90%2.90%2.90%2.90%0.00%0.00%0.00%0.80%0.80%0.80%0.80%0.80%0.80%0.80%67
Schedule7TownofEstesPark,ColoradoPrincipalSalesTaxcategoriesCurrentandnineyearsago1999200$Topthreecategories(alphabetical)Food$1,904,541$2,602,655Lodging1,097,5401,771,509Retail1,132,6701,661,368Total:4,134,7516,035,532Aggregateallothercategories1,494,2931,337,482Totalsalesandusetax$5,629,044$7,373,014Topthreecategoriesasapercentageoftotalsalestax73.45%81.86%GASB34implementedin200368
ScheduleS
Town of Estes Park,Colorado
Ratio of Outstanding Debt,by Type
1 Issued by Estes Park Urban Renewal Authority to refinance Series 1993 Bonds.Interest accrues at rates between 3.00-3.25%.
2 Issued by the Estes Park Building Authority to refinance 1990 Certificates of Participation.Interest accrues at rate of 5.50%.
1999 Light and Power Revenue Bonds issued to relocate and improve Towns light and power facilities.Interest accrues at rates between 4.00-5.45%.
1997B Water Loan from the Colorado Water Resources and Power Development Authority (CWRPDA)obtained to finance improvements to water system.
Interest accrues at rates between 3,80-5.00%.
1993A and 1990A Water Loans were obtained from the CWRPDA to finance improvements to water system.Interest accrues at rates between 2.70-5.00%.
2008A Water Loan was obtained from the CWRPDA to finance improvements to water system.Interest accrues at 3.26%.
See schedule 12 for personal income and population data.These ratios are calculated using personal income and population for the prior calendar year.
GASB 34 implemented in 2003
Source:Current and prior year’s financial statements
Governmental Activities
Tax Increment Certificates
Revenue Refunding of Capital
Bonds’Participation2 leases
Business-Type Activities
Fiscal
Year
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
$3,665,000
3,513,000
2,750,000
2,590,000
4,165,000
3,405,000
2,590,000
1,755,000
895,000
$0
Light and Power Total Percentage
Revenue Water Water Water Primary of Personal Per
Bonds3 loan4 Loans5 Loans6 Government Income7 Capita7
$754,000
754,000
590,000
529,000
465,000
397,000
326,000
251,000
172,000
$88,000
$1,421,306
1,402,299
3,144,492
2,719,741
2,447,800
838,294
618,136
418,836
213,675
$0
$5,280,000
4,960,000
2,820,000
2,660,000
2,490,000
2,315,000
2,130,000
1,935,000
7,915,000
$7,470,000
md.
md.
850,000
725,000
665,000
600,000
530,000
455,000
375,000
$290,000
md.
md.
1,320,000
1,210,000
1,095,000
970,000
835,000
690,000
535,000
$370,000
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
$5,494,410
$11,120,306
10,629,299
11,474,492
10,433,741
11,327,800
8,525,294
7,029,136
5,504,836
10,105,675
$13,712,410
29.60%
19.09%
20.61%
18.74%
20.35%
15.31%
12.63%
9.89%
1815%
24.63%
$2,127
1,964
2,120
1,928
2,093
1,575
1,299
1,017
1,867
$2,533
69
Schedule9TownofEstesPark,ColoradoRatioofGeneralBondedDebtOutstandingandLegalDebtMargin1999200020012002200320042005200620072008Generalbondeddebtoutstanding$-$-$-$-$-$-$-$-$-$-Total----------Percapita’$-$-$-$-$-$-$-$-$-$-Less:AmountssetasidetorepaygeneraldebtTotalnetdebtapplicabletodebitlimit$-$-$-$-$-$-5-Legaldebtmargin2$20,281,383$20,558,062$26,694,207$27,933,032$33,497,671$34,731,367$38,079,377$38,016,966$43,475,237$44,142,1901SeeSchedule12forpersonalincomeandpopulationdata.Theseratiosarecalculatedusingpersonalincomeandpopulationforthepriorcalendaryear.2Thelegaldebtmarginisthecity’savailableborrowingauthority.ItiscalculatedfromestimatedactualpropertyvalueasprovidedbyLarimerCounty.For2009,thecomputationis:$1,471,406,326x3%=544,142,190.GASB34implementedin200370
ScheduleIf)TownofEstesPark,ColoradoDirectandOverlappingGovernmentalActivitiesDebtAsofDecember31,200$Direct:TownofEstesParkOverlapping:NorthernColoradoWaterConservancyDistrictParkHospitalDistrictEstesValleyLibraryDistrictParkR-3SchoolDistrictPercentageApplicableToGovernment1.13%0.00%100.00%52.00%EstimatedShareofOverlappingDebt47,6510690,00012,495,600$13,233,251Sources:documentationfromentitieslistedaboveJurisdictionGeneralObligationBondedDebtOutstanding$4,234,39922,810,000690,00024,030,000S51.764,399$Total71
FiscalYear2004200520062007200820042005200620072008Schedule11TownofEstesPark,ColoradoPledged-RevenueCoverageWaterRevenueBondsLess:NetWaterOperatingAvailableDebtServiceRevenuesExpenses1RevenuePrincipalInterestCoverage2,180,3181,880,082300,236190,000106,4891.012,293,1721,831,533461,639205,000100,5891.512,561,7312,104,707457,024220,00080,7851.522,637,0492,184,862452,187235,00071,4101.483,346,3332,231,9121,114,421250,00049,2933.72Light&PowerRevenueBondLight&Less:NetPowerOperatingAvailableDebtServiceRevenuesExpensesRevenuePrincipalInterestCoverage9,031,7617,776,8451,254,916175,000125,7044.1710,303,4448,066,7532,236,691185,000117,5327.3910,647,9257,837,3032,810,622195,000107,2909.3010,709,8338,135,9312,573,902200,000100,9408.5511,996,0448,557,9033,438,141445,000302,6764.60EstesParkUrbanRenewalAuthorityEPURAincrementalsalestaxrevenuesDebtServiceFundRevenueAllocationFundBalanceinDebtServiceDebtServiceFundPrincipalInterestCoverage20042,763,072822,4511,289,113760,000120,5291.4620052,850,658905,4191,305,510815,00074,0221.4720063,032,7181,011,7251,414,822835,00067,4131.5720072,837,6271,119,7411,368,972860,00042,4881.5220082,900,4851,180,8311,023,382895,00014,5441.131Operatingexpensesarenetofdepreciationexpense72
Schedule12TownofEstesPark,ColoradoDemographicandEconomicStatisticsTotalMedianPerCapitaFiscalPersonalHouseholdPersonalMedianSchoolUnemploymentYearPopulation’Income4IncomeIncomeAgeEnrollment2Rate319995,229N/A37,565N/A451,3163.2%20005,413165,091,08755,66730,499451,3542.4%20015,413165,091,08755,66730,499451,3933.1%20025,413165,091,08755,66730,499451,4114.5%20035,413165,091,08755,66730,499451,3635.3%20045,413165,091,08755,66730,499451,2604.6%20055,413165,091,08755,66730,499451,2654.4%20065,413165,091,08755,66730,499451,2194.3%20075,413165,091,08755,66730,499451,2063.8%20085,413165,091,08755,66730,499451,1624.9%2000Census2ParkR-3Schooldistrict3Dataobtainedfromwww.larimet.org/compass4TotalPersonalIncomederivedfromPerCapitaPersonalIncomexPopulationNote:TheTownofEstesParkimplementedGASB34asofDecember31,200373
Schedule13TownofEstesPark,ColoradoPrincipalemployers#of1999employees#of2008employees1EstesParkMedicalCenter2EstesValleyRecreationDistrict3HarmonyFoundation4HolidayInn5ParkSchoolDistrictR-36RockyMountainNationalPark7Safeway8TownofEstesPark9YMCAoftheRockiesEstesParkMedicalCenterEstesValleyRecreationDistrictHarmonyFoundationHolidayInnParkSchoolDistrictR-3RockyMountainNationalParkSafewayTownofEstesParkYMCAoftheRockiesN/AN/AN/AN/AN/AN/AN/A117N/ANote:TheTownofEstesParkimplementedGASB34asofDecember31,2003Source:TownofEstesParksCommunityProfileN/AN/AN/AN/AN/AN/AN/A95N/A74
Schedule14TownofEstesPark,ColoradoFull-timeTownEmployeesbyFunction/Program1999200020012002200320042005200620072008Function/ProgramGeneralgovernmentAdministration4.004.004.254.254.254.004.004.005.004.00Finance8.008.008.008.008.008.009.009.009.009.00CommunityDevelopment6.007.007.008.008.008.008.008.008.008.00Police26.5026.5027.5027.5028.5029.5029.5029.5030.7529.60PublicWorks16.006.006.006.006.006.006.003.003.002.00Streets10.000.000.000.000.000.000.003.003.003.00Parks14.004.004.004.004.004.004.005.005.005.00SpecialRevenueMuseum2.502.502.752.752.752.752.752.752.753.00SeniorCitizensCenter22.903.003.003.003.001.501.501.501.501.60ConventionVisitorBureauAdvertising1.001.001.001.001.002.000.002.002.002.00Marketing2.002.002.002.002.002.001.001.002.002.00VisitorBureau0.000.000.000.000.003.006.003.005.005.00SpecialEvents4.004.004.004.004.004.004.004.004.004.00Fire0.750.751.001.251.751.751.751.752.003.00UtilitiesLight&Power418.5019.0020.0020.0020.5020.5020.5018.2519.3020.00Water7.508.508.508.509.509.509.5010.759.809.70OtherDivisionsIT0.000.000.000.000.000.000.002.002.003.00Fleet13.003.003.003.003.003.003.002.002.003.00EPURA1.001.001.001.001.001.001.001.001.001.00Totals:97.65100.25103.00104.25107.25110.50111.50111.50117.10117.90ReorganizationintheStreetsandParksdepartments.2SeniorCentermealscontractedtoacateringcompany.ConventionandVisitorBureauformed.ITdepartmentsplittoitsowndivision.Note:TheTownofEstesParkimplementedGASB34asofDecember31,2003Source:TownofEstesParkBudgetSummary,HumanResourcesDepartment75
Schedule15TownofEstesPark,ColoradoOperatingIndicatorsbyFunction/ProgramPoliceHomicideSexualAssaultRobberyAssaultBurglaryLarceny-TheftAutoTheftTrafficCitationsAdultArrestsJuvenileArrestsReportnumberspulled200120022003000001037S2100004130323735183032272214216316112314331187125489427661,103501224205210218161N/AN/AN/A108587437431,3968361,132200720080000061048101000534642533734333323281431121311097913874140529231028243918222017115218743333140679728371,8391,8731,676FireNumberofvolunteersEmergencyResponsesWaterhydrantsFireinsurancerating3436393939N/AN/AN/AN/A441475491528SS15906/6/96/6/96/6/96/6/96/6/939393530384614244224S44146156416486576626/6/9ISOClass4ISOClass4ISOClass4ISOClass4Utilities-ElectricNo.ofaccountsWindPowercustomersPlantCapacity(MW)AveragedailyconsumptionAnnualconsumptionDistributionsystem(inmiles)NumberofStreetLightsUtilities-WaterNo.ofaccountsPlantCapacity(gallons)AveragedailyconsumptionAnnualconsumptionDistributionsystem(inmiles)8,5508,8999,1439,2369,4539,7139,7539,98210,13310,31SN/AN/AN/AN/A10310098991101S337.S068.7568.7568.7S68.7S68.7S68.7S68.756980295,092301,918307,398317,540322,931328,100330,534340,863343,3903S0,S00107,708,723110,200,139112,200,139115,901,927117,869,752119,756,414120,644,976124,414,948125,337,508127,932,3623333373413423433433453S73692801,0601,0691,0721,0861,1251,12S1,1611,16S1,1661,2504,0384,1464,2304,3334,5334,S794,6064,8064,8794,9936,000,0006,000,0006,000,0006,000,0006,000,0004,S00,0004,500,0004,S00,0005,000,000S,000,0001,300,0001,300,0001,300,0001,300,0001,042,8111,062,0841,099,4811,138,6541,132,4791,167,133474,500,000474,S00,000474,500,000474,500,000393,921,919387,660,S47401,310,385415,608,653413,3S4,928426,003,368100100100100100100107107109100CultureandRecreationMuseumSeniorCenterConvention&VisitorBureauOtherMiscellaneousDataHotels,motelsandotherNewspapersTheatersBus/TaxiCompaniesRadioStationsHospitalsChurchesStatehighways(Highways7,34and36)777777777733333338889095969899lOS108111116117343745391775777N/AN/AN/AN/AN/A37373636462SS2732633003263754094665625921111111111111111111100000011111631681681771771771501401501521222222222222222222222222244SS22111112221111111111202020202020171717173333333333OtherMiscellaneousDataNo.ofRegisteredVoters4,S764,6284,628N/A4,3674,3674,2524,2844,2094,313Facilitiesandservicesnotincludedinthereportingentity:Education-ParkSchoolDistrictR-3(enrolled)EstesParkHighSchool(9-12)416EstesParkMiddleSchool(6-8)308EstesParkElementarySchool)K-S)592ParksandRecreationEstesValleyRecreationandParkDistrict4144174173973874074214094033093223333463283323103032926046S4661620545526S414944671111111111Source:Localauthoritiesincluding:CVB,EVRPD,ParkSchoolDistrictR-319992000200420052006TownGovernmentElectedofficialsAppointedofficialsfull-timeemployeesPart-timeemployeesSeasonalemployeesBuildingPermits76
Schedule16TownofEstesPark,ColoradoCapitalAssetStatisticsbyFunction/Program1999200020012002200320042005200620072008Function/ProgramPoliceStations1111111111PatrolUnits891010101111121313FireProtectionStations2222111111WaterHydrants475491528551590615641648657673FireRating6/6/96/6/96/6/96/6/96/6/96/6/91504150415041504PublicWorksAreainSquareMiles6.26.46.56.56.56.56.56.56.56.5UtilitiesWaterServiceAccounts4,0384,1464,2304,3334,5334,5794,6064,8064,8794,993Watermains(miles)102102103103103103104104109100FireHydrants475491528551590615641648657662WaterTreatmentPlants2222222222ElectricServiceAccounts8,5508,8999,1439,2369,4539,7139,7539,98210,13310,315NumberofStreetLights1,0601,0691,0721,0861,1251,1251,1611,1651,1661,250ElectricSubstations2222222222Source:TownofEstesParkdepartmentaldata77
COMPLIANCESECTION
SINGLEAUDIT
--SçSwanhorst&CompanLLC__-__________________CertifiedPublicAccoirnientsHonorableMayorandMembersoftheBoardofTrusteesTownofEstesParkEstesPark,ColoradoINDEPENDENTAUDITORS’REPORTONINTERNALCONTROLOVERFINANCIALREPORTINGANDONCOMPLIANCEANDOTHERMATTERSBASEDONANAUDITOFFINANCIALSTATEMENTSPERFORMED[NACCORDANCEWITUGOVERNMENTAUDITJNGSTANDARDSWehaveaudited(hefinancialstatementsofthegovernmentalactivities,thebusiness-typeactivities,eachmajorfund,andtheaggregateremainingfundinformationoftheTownofEstesPark,asofandfortheyearendedDecember31,2008,whichcollectivelycomprisethebasicfinancialstatementsoftheTownofEstesPark,andhaveissuedourreportthereondatedJuly7,2009.WeconductedourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmericaandthestandardsapplicabletofinancialauditscontainedinGovernmentAuditingStandardy,issuedbytheComptrollerGeneraloftheUnitedStates.InternalControlOverFinancialReportingInplanningandperformingouratidit,weconsideredtheTownofEstesPark’sinternalcontroloverfinancialreportingasabasisfordesigningourauditingproceduresforthepurposeofexpressingouropinionsonthefinancialstatements,butnotforthepurposeofexpressinganopinionontheeffectivenessoftheTownofPark’sinternalcontroloverfinancialreporting.Accordingly,wedonotexpressanopinionontheeffectivenessoftheTownofEstesPark’sinternalcontroloverfinancialreporting.Ourconsiderationofinternalcontroloverfinancialreportingwasforthelimitedpurposedescribedintheprecedingparagraphandwouldnotnecessarilyidentifyalldeficienciesininternalcontroloverfinancialreportingthatmightbesignificantdeficienciesormaterialweaknesses.However,asdiscussedbelow,weidentifiedadeficiencyininternalcontroloverfinancialreportingthatweconsidertobeasignificantdeficiency.Acontroldeficiencyexistswhenthedesignoroperationofacontroldoesnotallowmanagementoremployees,inthenormalcourseofperformingtheirassignedfunctions,topreventordetectmisstatementsonatimelybasis.Asignificantdeficiencyisacontroldeficiency,orcombinationofcontroldeficiencies,thatadverselyaffectstheTownofEstesPark’sabilitytoinitiate,authorize,record,process,orreportfinancialdatareliablyinaccordancewithgenerallyacceptedaccountingprinciplessuchthatthereismorethanaremotelikelihoodthatainisstatementoftheTownofEstesPark’sfinancialstatementsthatismorethaninconsequentialwillnotbepreventedordetectedbytheTownofEstesPark’sinternalcontrol.Weconsiderthedeficiencydescribedintheaccompanyingscheduleoffindingsandquestionedcostsas2008-1tobesignificantdeficiencyininternalcontroloverfinancialreporting.Amaterialweaknessisasignificantdeficiency,orcombinationofsignificantdeficiencies,thatresultsinmorethanaremotelikelihoodthatamaterialmisstatementofthefinancialstatementswillnotbepreventedordetectedbytheTownofEstesPark’sinternalcontrol.$400E.CrescentParkwaySuite600•GreenwoodVillage,CO$0111‘(720)528-4306fax:(720)528-4307
Ourconsiderationoftheinternalcontroloverfinancialreportingwasforthelimitedpurposedescribedinthefirstparagraphofthissectionandwouldnotnecessarilyidentifyalldeficienciesintheinternalcontroloverfinancialreportingthatmightbesignificantdeficienciesand,accordingly,wouldnotnecessarilydiscloseallsignificantdeficienciesthatarealsoconsideredtobematerialweaknesses.However,weconsideritem200$-itobeamaterialweakness.ComplianceandOtherMattersAspartofobtainingreasonableassuranceaboutwhethertheTownofEstesPark’sfinancialstatementsarefreeofmaterialmisstatement.weperformedtestsofitscompliancewithcertainprovisionsoflaws,regulations,contractsandgrantagrccments,noncompliancewithwhichcouldhaveadirectandmaterialeffectonthedeterminationoffinancialstatementamounts.However,providinganopiniononcompliancewiththoseprovisionswasnotanobjectiveofourauditand,accordingly,wedonotexpresssuchanopinion.TheresultsofourtestsdisclosednoinstancesofnoncomplianceorothermattersthatarerequiredtobereportedunderGovernmentAuditingStandards.TheTownofEstesPark’sresponsetothefindingidentifiedinourauditisdescribedintheaccompanyingcorrectiveactionplan.WedidnotaudittheTownofEstesPark’sresponseand,accordingly,weexpressnoopiniononit.ThisreportisintendedsolelyfortheinformationanduseoftheBoardofTrustees,management,federalawardingagenciesandpass-throughentitiesandisnotintendedtobeandshouldnotbeusedbyanyoneotherthanthesespecifiedparties.July7,200979
Swanhorst&CompanyLLCertmcdPublicAccounlartsHonorableMayorandMembersoftheBoardofTrusteesTownofEstesParkEstesPark,ColoradoINDEPENDENTAUDITORS’REPORTONCOMPLIANCEWITHREQUIREMENTSAPPLICABLETOEACHMAJORPROGRAMANDONINTERNALCONTROLOVERCOMPLIANCEINACCORDANCEWiTH0MBCIRCULARA-133ComplianceWehaveauditedthecomplianceoftheTownofEstesParkwiththetypesofcompliancerequirementsdescribedintheU.S.OfficeofManagementandBudget(0MB)CircutarA-133ComplianceSupplementthatareapplicabletoeachofitsmajorfederalprogramsfortheyearendedDecember31,200$.TheTownofEstesPark’smajorfederalprogramsareidentifiedinthesummaryofauditors’resultssectionoftheaccompanyingscheduleoffindingsandquestionedcosts.Compliancewiththerequirementsoflaws,regulations,contractsandgrantsapplicabletoeachofitsmajorfederalprogramsistheresponsibilityoftheTownofEstesPark’smanagement.OurresponsibilityistoexpressanopinionontheTownofEstesPark’scompliancebasedonouraudit.WeconductedourauditofcomplianceinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmerica;thestandardsapplicabletofinancialauditscontainedinGovernmentAuditingStandarck,issuedbytheComptrollerGeneraloftheUnitedStates;and0MBCircularA-133,AuditsofStates,LocalGovernments,andNon-ProfitOrganizations.Thosestandardsand0MBCircularAl33requirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhethernoncompliancewiththetypesofcompliancerequirementsreferredtoabovethatcouldhaveadirectandmaterialeffectonamajorfederalprogramoccurred.Anauditincludesexamining,onatestbasis,evidenceabouttheTownofEstesPark’scompliancewiththoserequirementsandperformingsuchotherproceduresasweconsiderednecessaryinthecircumstances.Webelievethatourauditprovidesareasonablebasisforouropinion.OurauditdoesnotprovidealegaldeterminationoftheTownofEstesPark’scompliancewiththoserequirements.Inouropinion,theTownofEstesParkcomplied,inallmaterialrespects,withtherequirementsreferredtoabovethatareapplicabletoeachofitsmajorfederalprogramsfortheyearendedDecember31,200$.InternalControlOverComplianceThemanagementoftheTownofEstesParkisresponsibleforestablishingandmaintainingeffectiveinternalcontrolovercompliancewiththerequirementsoflaws,regulations,contractsandgrantsapplicabletofederalprograms.Inplanningandperformingouraudit,weconsideredtheTownofEstesPark’sinternalcontrolovercompliancewithrequirementsthatcouldhaveadirectandmaterialeffectonamajorfederalprograminordertodetermineourauditingproceduresforthepurposeofexpressingouropiniononcompliance,butnotforthepurposeofexpressinganopinionontheeffectivenessofinternalcontrolovercompliance.Accordingly,wedonotexpressanopinionontheeffectivenessoftheTownofEstesPark’sinternalcontrolovercompliance.8400E.CrescentParkwaySuite600•GreenwoodVillage,CO80111•(720)528-4306Fax:(720)528-4307
Ourconsiderationofinternalcontrolovercompliancewasforthelimitedpurposedescribedintheprecedingparagraphandwouldnotnecessarilyidentif’alldeficienciesintheTownofEstesPark’sinternalcontrolthatmightbesignificantdeficienciesormaterialweaknessesasdefinedbelow.However,asdiscussedbelow,weidentifiedadeficiencyininternalcontrolovercompliancethatweconsidertobeasignificantdeficiency.AcontroldeficiencyintheTownofEstesPark’sinternalcontrolovercomplianceexistswhenthedesignoroperationofacontroldoesnotallowmanagementoremployees,inthenormalcourseofperformingtheirassignedfunctions,topreventordetectnoncompliancewithatypeofcompliancerequirementofafederalprogramonatimelybasis.Asignificantdeficiencyisacontroldeficiency,orcombinationofcontroldeficiencies,thatadverselyaffectstheTownofEstesPark’sabilitytoadministerafederalprogramsuchthatthereismorethanaremotelikelihoodthatnoncompliancewithatypeofcompliancerequirementofafederalprogramthatismorethaninconsequentialwillnotbepreventedordetectedbytheTownofEstesPark’sinternalcontrol.Weconsiderthedeficiencyininternalcontrolovercompliancedescribedintheaccompanyingscheduleoffindingsandquestionedcostsasitem2008-2tobeasignificantdeficiency.Amaterialweaknessisasignificantdeficiency,orcombinationofsignificantdeficiencies,thatresultsinmorethanaremotelikelihoodthatmaterialnoncompliancewithatypeofcompliancerequirementofafederalprogramwillnotbepreventedordetectedbytheTownofEstesPark’sinternalcontrol.Weconsiderthesignificantdeficiencyininternalcontrolovercompliancedescribedintheaccompanyingscheduleoffindingsandquestionedcostsasitem2008-2tobeamaterialweakness.TheTownofEstesPark’sresponsetothefindingidentifiedinourauditisdescribedintheaccompanyingcorrectiveactionplan.WedidnotaudittheTownofEstesPark’sresponseand,accordingly,weexpressnoopiniononit.ThisreportisintendedsolelyfortheinformationanduseoftheBoardofTrustees,management,federalawardingagenciesandpass-tbroughentitiesandisnotintendedtobeandshouldnotbecisedbyanyoneotherthanthesespecifiedparties.July7,200981
pTOWNOFESTESPARK,COLORADOSCHEDULEOFFINDINGSANDQUESTIONEDCOSTSYearEndedDecember31,2008SummaryofAuditors’ResultsfinancialStatementsTypeofauditors’reportissued:unqualifiedInternalcontroloverfinancialreporting:•Materialweaknessesidentified?xyesno•Significantdeficienciesidentifiedthatarenotconsideredtobematerialweaknesses?_________yesxnonereportedNoncompliancematerialtofinancialstatementsnoted?_________yesxnofederalAwardsInternalcontrolovermajorprograms:•Materialweaknessesidentified?xyesno•Significantdeficienciesidentifiedthatarenotconsideredtobematerialweaknesses?_________yesxnonereportedTypeofauditors’reportissuedoncomplianceformajorprograms:unqtialifiedAnyauditfindingsdisclosedthatarerequiredtobereportedinaccordancewithsection510(a)of0MBCircularA-133?xyesnoIdentificationofmajorprograms:66.468CapitalizationGrantsforDrinkingWaterStateRevolvingFundsDollarthresholdusedtodistinguishbetweentypeAandtypeBprograms:$300,000Auditcequalifiedaslow-riskauditee?_________yesxno(Continued)82
TOWNOFESTESPARK,COLORADOSCHEDULEOFFINDINGSANDQUESTIONEDCOSTSYearEndedDecember31,2002FinancialStatementFindings2008-1FinancialReportingCriteriaTheTownisresponsibletoimplementinternalcontrolsdesignedtoensurethatfinancialinformationisaccurateandtimely.ConditionTheTownreportedasignificantadjustmenttopriorperiodfinancialstatementsintheamountof$1,056,768.ContextDuringtheauditprocess,weidentifiedpropertythatwassoldduring2007,butremainedontheTown’scapitalassetrecords.EffectTheTownwasrequiredtorestatepriorperiodfinancialstatements.Restatementsofthisnaturereducethereliabilityoffinancialinformation.CauseTheTowndoesnothavecomprehensiveinternalcontrolsinplacetomonitorandrecordcapitalassettransactions.Inthisparticularcase,managementdecidedtosellcertainpropertyandrecordedthepropertyasheldforresaleintheaccountingrecords,butfailedtoremovethepropertyfromthecapitalassetrecords.Townpersonneldidnotdetectthisduplication.RecommendationWerecommendthattheTownstrengthenitsprocessesandproceduresfortrackingandreportingcapitalassettransactions.ViewsofResponsibleOfficialsandPlannedCorrectiveActionsSeetheaccompanyingcorrectiveactionplan.(Continued)83
TOWNOFESTESPARK,COLORADOSCHEDULEOFFINDINGSANDQUESTIONEDCOSTSYearEndedDecember31,200$FederalAwardsFindingsandQuestionedCosts2008-2ScheduleofExpendituresofFederalAwardsEnvironmentalProtectionAgencyPassedthroughColoradoWaterResourcesandPowerDeveLopmentAuthorityCFDA#66.468CapitalizationGrantsforDrinkingWaterStateRevolvingFundsCriteriaTheTownisrequiredtohaveadequateinternalcontrolsinplacetoidentifyandreportfederalawards.ConditionTheTownobtainedaloanthatincludedfederalfundingfortheMary’sLakewatertreatmentplantimprovements,andreceivedotherfederalawardsthatwerenotreportedinthescheduleofexpendituresoffederalawardspreparedbymanagement.ContextBasedonourtestingofthescheduleofexpendituresoffederalawardspreparedbymanagement,andinquiriesofTownpersonnel,weidentifiedfederalawardsthatwereexcludedfromtheschedulepreparedbymanagement,andotherfederalawardsthatwerereportedincorrectly.EffectFederalawardswerenotproperlyidentifiedandreported.Thelackofadequateinternalcontroloverfederalawardscouldleadtononcompliancewithfederalregulationsandgrantagreements.CauseTheTownhasadecentralizedsystemofmonitoringfederalawards.CommunicationbetweentheTowndepartmentshasnotbeeneffectiveindeterminingtheexistenceoffederalawards.Personnelarenotadequatelytrainedtoidentifyandreportfederalawards,andnocentralizedoversightexiststocompensatefortheseweaknesses.RecommendationWerecommendthattheTownestablishandimplementcentralizedpoliciesandprocedurestoidentifyandmonitorfederalawards.Townpersonnelinalldepartmentsshouldreceiveongoingtrainingontheidentificationandmonitoringoffederalawardsinatimelymanner.ViewsofResponsibleOfficialsandPlannedCorrectiveActionsSeetheaccompanyingcorrectiveactionplan.84
Iê&cfiwanhorst&CompanyLLC(,rifkdI’’Ii?ccounrtHonorableMayorandMembersoftheBoardofTrusteesTownofEstesParkEstesPark,ColoradoINDEPENDENTAUDITORS’REPORTONSCHEDULEOFEXPENDiTURESOFFEDERALAWARDSWehaveauditedthefinancialstatementsofthegovernmentalactivities,thebusiness-typeactivities,eachmajorhind,andtheaggregateremaininghindinformationoftheTownofEstesPark,asofandfortheyearendedDecember31,200$,whichcollectivelycomprisethebasicfinancialstatementsoftheTownofEstesPark,andhaveissuedourreportthereondatedJuly7,2009.ThesefinancialstatementsaretheresponsibilityoftheTownofEstesPark’smanagement.Ourresponsibilityistoexpressopinionsonthesefinancialstatementsbasedonouraudit.WeconductedourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmerica,GovernmentAuditingStandards,issuedbytheComptrollerGeneraloftheUnitedStates,andtheprovisionsofOfficeofManagementandBudgetCircularA-133,AuditsofStates,LocalGovernments,andNon-ProfitOrganizations.Thosestandardsand0MBCircularA-133requirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatement.Anauditincludesexamining,onatestbasis,evidencesupportingtheamountsanddisclosuresinthefinancialstatements.Anauditalsoincludesassessingtheaccountingprinciplesusedandsignificantestimatesmadebymanagement,aswellasevaluatingtheoverallfinancialstatementpresentation.Webelievethatourauditprovidesareasonablebasisforouropinions.Ourauditw’asconductedforthepurposeofformingopinionsonthefinancialstatementsthatcollectivelycomprisetheTownofEstesPark’sbasicfinancialstatements.Theaccompanyingscheduleofexpendituresoffederalawardsispresentedforpurposesofadditionalanalysisasrequiredby0MBCircularA-l33andisnotarequiredpartofthebasicfinancialstatements.Theinfortriationinthisschedulehasbeensubjectedtotheauditingproceduresappliedintheauditofthebasicfinancialstatementsand,inouropinion,isfairlystatedinallmaterialrespectsinrelationtothebasicfinancialstatementstakenasawhole.July7,20098400E.CrescentParkway.Suite600•GreenwoodVillage,CO20111•(720)528-4306Fax:(720)528-4307
1TOWNOFESTESPARK,COLORADOSCHEDULEOFEXPENDITURESOFFEDERALAWARDSYearEndedDecember31,200$FederalCFDAFederalGrantor/Pass-ThroughGrantor/ProgramTitleNumberDisbursementsU.S.DepartmentofHousingandUrbanDevelopmentPassedthroughColoradoDepartmentofLocalAffairsCommunityDevelopmentBlockGrant14.228$190,000HOMEInvestmentPartnershipsProgram14.23911,000TOTALU.S.DEPARTMENTOFHOUSINGANDURBANDEVELOPMENT201,000U.S.DepartmentofJusticePassedthroughColoradoDepartmentofPublicSafety,DivisionofCriminalJusticeEdwardByrneMemorialJusticeAssistance16.73$5,000U.S.DepartmentofTransportationPassedthroughColoradoDepartmentofTransportationStateandCommunityHighwaySafety20.6005,453U.S.DepartmentoftheInteriorNationalFirePlan-WildlandUrbanInterfaceCommunityfireAssistance15.22813,025EnvironmentalProtectionAgencyPassedthroughColoradoWaterResourcesandPowerDevelopmentAuthorityCapitalizationGrantsIbrDrinkingWaterStateRevolvingFunds66.46$$26,760TOTALFEDERALFINANCIALASSISTANCE$1,051,238SeetheaccompanyingIndependentAuditorsReport.$6
TOWNOfESTESPARK,COLORADONOTESTOSCHEDULEOfEXPENDITURESOffEDERALAWARDSYearEndedDecember31,2008NOTE1:BASISOFPRESENTATIONTheaccompanyingscheduleofexpendituresoffederalawardsispresentedinaccordancewiththerequirementsof0MBCircularA-133,AuditsofStates,LocalGovernments,andNon-ProfitOrganizations.Therefore,someamountspresentedinthisschedulemaydifferfromamountspresentedinthefinancialstatements.87
CORRECTIVEACTIONPLANYearEndedDecember31,2008FinancialStatementFindings200$-iFinancialReportingTheTownrecognizestheimportanceoftrackingandreportingcapitalassetssoastoprovideaccuratereportingofthecapitalassets.TheTownintendstoensureaccuracyandcompliancethroughthefollowingcorrectiveactionplan:•Uponthesaleorpurchaseofassets,allsourcesandusesoffunding,includingtheUrbanRenewalAuthority,shallbeconfirmedandenteredintothefixedassetsystem.•Writtenconfirmation(ie,receipts,billsofsale,etc.)willberequireddetailingthetransactionsothatproperbookingoftransactionisassured.•Continuedreviewofassetlistingsofeachtypeandfromeachdepartmentonanannualbasis,willbeperformedsoastoensureaccuracy.FederalAwardsFindingsandQuestionedCosts2008-2ScheduleofExpendituresofFederalAwardsTheTownrecognizestheimportanceoftrackingandmonitoringfederalawards.TheTownintendstoensureaccuracyandcompliancethroughthefollowingcorrectiveactionplan:•Thefinancedepartmentwillreview,maintainandupdategrantinformationthroughregularmeetingswithdepartmentheadsandotherstaffresponsibleforgrantacquisitions.•AstheTowndoesnothaveagrantaccountantonstaff,thefinancedepartmenthasconsultedwithseveralColoradomunicipalitiesthatdohavegrantaccountantsandthathavepoliciesinplace.Thefinancedepartmentisintheprocessofadoptinggrantpoliciesandproceduresthatspecificallyaddress,amongotherthings,theconditionsnotedintheScheduleofFindings.•Oncethepoliciesandproceduresareadopted,thefinancedepartmentwilleducateappropriatepersonnelinregardstobestpracticesinhandlingandprocessinggrants.8$
STATECOMPLIANCE
FinancialPlanning02/01Thepublicreportburdenforthisinformationcollectionisestimatedtoaverage380hoursannually.FormIl350-050-36CityorCounty:LarimerCountyLOCALHIGHWAYFINANCEREPORTYEARENDING:December2008ThisInformationfromTheRecordsOf(example-Cityof_orCountyofBy:SammiColeson,AccountantTownofEstesParkJPhone:(970)577-35691.DISPOSITIONOFHIGHWAY-USERREVENUESAVAILABLEFORLOCALGOVERNMENTEXPENDITUREA.LocalB.LocalC.ReceiptsfromD.ReceiptsfromITEMMotor-FuelMotor-VehicleStateHighway-FederalHighwayT“s-I-Totalreceiptsavailable2.Minusamountusedtbrcollectionexpenses3.Minusamountusedfornonhighwaypurposes4.Minusamountusedformasstransit5.RemainderusedforhighwaypurposesII.RECECPTSFORROADANDSTREETPURPOSESIll.DISBURSEMENTSFORROADANDSTREETPURPOSESITEMITEMAMOUNTA.Receiptsfromlocalsources:Localhighwaydisbursements:I.Localhighway-usertaxesI.Capitaloutlay(frompage2)294,212a.MotorFuel(fromItemI.A.5.)2.Maintenance:671,795b.MotorVehicle(ftomItem1.B.5.)3.Roadandstreetservices:c.Total(a.+b.)a.Trafficcontroloperations16,4942.Generalfundappropriations.b.Snowandiceremoval46,1743.Otherlocalimposts(frompage2)c.Other60,7824.Miscellaneouslocalreceipts(frompage2)d.Total(a.throughc.)123,4505.Transfersfromtollfacilities04.Generaladministration&miscellaneous328,4936.Proceedsofsaleofbondsandnotes:5.Highwaylawenforcementandsafety690,790a.Bonds-OriginalIssues6.Total(1through5)2.108.741b.Bonds-RefundingIssuesB.Debtserviceonlocalobligations:c.NotesI.Bonds:U.Total(a.+h.+c.)0a.Interest7.Total(Ithrough6)1,867,978b.RedemptionB.PrivateContributions0c.Total(a.+b.)0C.ReceiptsfromStategovernment2.Notes:(frompage2)240,763a.InterestD.ReceiptsfromFederalGovernmentb.Redemption“c.Total(a.h.)03.Total(i.e12.c)p“.PaymentstoStateforhighways.Paymentstotollfacilities.Totaldisbursements(A.6+B.3±C+D)2,108,741IV.LOCALHIGHWAYDEBTSTATUS(Showallentriesatpar)OpeningDebtAmountIssuedRedemptionsClosingDebtA.Bonds(Total)oI._Bonds(Refunding_Portion)BNotes(Total)V.LOCALROADANDSTREETFUNDBALANCENotesandComments:FORMFHWA-536(Rev.1-05)PREVIOUSEDITIONSOBSOLETE(NextPage)A.BeginningBalanceB.TotalReceiptsC.TotalDisbursemcntD.EndingBalanceE.Reconciliation2,108,7412,108,741008huff89
FORMFHWA-536fRev.1.05)rttviuu,EDITIONSOBSOLETE2STATE:ColoradoLOCALHIGHWAYFINANCEREPORTYEARENDING(mm/yy):December2008II.RECEIPTSFORROADANDSTREETPURPOSES-DETAILITEMAMOUNTITEMAMOUNTA.3.Otherlocalimposts:.4.Miscellaneouslocalreceipts:a.PropertyTaxesandAssessments0a.Interestoninvestmentsob.Otherlocalimposts:b.TrafficFines&Penalities0I.SalesTaxes0C.ParkingGarageFees-02.Infrastructure&ImpactFees0d.ParkingMeterfees03.Liens0e.SateofSurplusProperty04.Licenses0f.ChargesforServices4,7555.SpecificOwnership&/orOther99,175g.OtherMisc.Receipts06.Total(I.through5.)99,175h.Other2,2$7c.Total(a.+b.)99,175i.Total(a.throughh.)7,042Canyforwardtopage1)Canyforwardtopage1)ITEMITEMC.ReceiptsfromStateGovernment).ReceiptsfromFederalGovernment1.Highway-usertaxesI.FHWA(fromItem1.D.5.)2.Stategeneralfunds2.OtherFederalagencies:3.OtherStatefunds:a.ForestServicea.Statebondproceedsb.FEMA0b.ProjectMatchc.HUD0c.MotorVehicleRegistrationsd.FederalTransitAdmin0U.Other(Specify)e.U.S.CorpsofEngineers0e.Other(Specify)0f.Otherfederal0f.Total(a.throughe.)25,497g.Total(a.throughf.)04.Total(1.+2.+3.l)240,7633.Total(I.+2.g)-III.DISBURSEMENTSFORROADANDSTREETPURPOSES-DETAILONNATIONALOffNATIONALHIGHWAYHIGHWAYTOTALSYSTEMSYSTEM(a)fb)(c)A.J.Capitaloutlay:a.Right-Of-WayCosts00b.EngineeringCosts31,08531,085c._Construction:(l).NewFacilities00(2).CapacityImprovements106,686106,686(3).SystemPreservation156,441156,441(4).SystemEnhancement&Operation00(5).TotalConstruction(1)+(2)+(3)+(4)0263,127263,127d.TotalCapitalOutlay(Linesl.a.+l.b.+1.c.5)0294,212294,212CanyforwardtopageI)IotesandComments:90
FinanceDepartmentMemoTo:HonorableMayorPinkhamBoardofTrusteesTownAdministratorHalburntFrom:SteveMcFarland,FinanceOfficerDate:July28,2009Subject:InregardstoResolutiontoAdoptanIdentityTheftPreventionProgramBackgroundTheUSGovernmentthroughtheFederalTradeCommission(FTC)hasattemptedtoaddressthenationalissueofidentitytheftthroughitsmandatingofthecreationandadoptingof“RedFlag”policies/rules.TheFTChasevenproducedahow-toguide(“FightingFraudWithTheRedFlagRules”)forbusinessestodetermineiftheyaresubjecttothenewrules,andifso,whatisrequiredofthem(staffhassparedTownBoardthecopyofthe42-pageFTCpamphlet).Theimplementationdeadlineforsaidpolicyhasbeenextendedatleasttwiceinthepastcalendar,withthecurrentdeadlinebeingAugust1,2009.IthasbeendeterminedthattheTownfallsundertheguidelinesassetforthbytheFTCasacreditor,andmustcomplywiththeRedFlagrulesbycreatinganidentitytheftprogramandadoptingthecorrespondingresolutionattheTownBoardlevel.Assuch,staffhascalleduponseveralothermunicipalities(Loveland,Longmont,Golden,FortCollins)forexamplesoftheirpolicies.Inaddition,theGovernmentFinanceOfficersAssociationhaslistedinformationinseveraloftheirsemi-monthlynewslettersthathasprovedhelpful.Theresultinginput,inadditiontocounselfromGregWhite,hasledtotheattacheddocuments.Documentation1.FAQabouttheRedFlagRules.ThefirstquestionmentionsthedeadlineofMay1,2009,which(aspreviouslystated)hasbeensinceextendedtoAugust1,2009.ThedocumentisborrowedfromtheCityofLoveland,butprovidesagoodoverviewoftheprogram.2.RedFlagPolk’andIdentityTheftPreventionProgram.Theattachedpolicy/programisdesignedtobeflexible,yetdiligentandthoroughinitsattempttoprotecttheidentityofourcustomers,whichmainlyinvolvesutilityaccounts.Aspreviouslystated,itisan
amalgamationofRedFlagpoliciesfromseveralmunicipalities,modifiedtofitourspecificneeds.3.ResolutionadoptinganidentitytheftpreventionprogramfortheTownofEstesPark,Colorado.ActionstepsrequestedStaffrequestsadoptionofthe“RedFlagPolicyandIdentityTheftPreventionProgram”attached.00•Page2
FAQsABOUTTHEREDFLAGSRULEQ:WhatistheRedFlagsRule?A:TheRedFlagsRuleisafederalruleadoptedbytheFederalTradeCommissionpursuanttoafederallawknownastheFairandAccurateCreditTransactionsActof2003(“FACTAct”).Theofficial,legalcitationtotheRedFlagsRuleis16C.F.R.Part681.TheRedFlagsRuletakeseffectonMay1,2009.Q:WhatdoestheRedFlagsRulerequire?A:TheRedFlagsRulerequirescreditorswhomaintaincoveredaccountstoestablishawrittenidentitytheftpreventionprogramtodetect,prevent,andmitigateidentitytheftinconnectionwiththeopeningofacoveredaccountoruseofanexistingcoveredaccount.Q:WhydoutilitieshavetocomplywiththeRedFlagsRule?A:Utilitiesare“creditors”whomaintain“coveredaccounts.”“Creditors”areentitiesthatregularlyextend,renew,orcontinuecredit.“Coveredaccounts”arecustomeraccountsdesignedtopermitmultiplepaymentsortransactions,oranyotheraccountforwhichthereisareasonablyforeseeableriskofidentitytheft.Becauseutilitiesestablishcustomeraccountsthatbillinarrearsforservicesreceived,theyextendcreditandaretherefore“creditors”forpurposesoftheRedFlagsRule.Customerutilityaccountsare“coveredaccounts”becausetheyaredesignedtopermitmultiplepayments.Q:Whatisidentitytheft?A:Identitytheftisfraudcommittedorattemptedusingtheidentifyinginformationofanotherpersonwithoutauthority.Q:Whatisa“redflag”?A:A“redflag”isapattern,practice,orspecificactivitythatindicatesthepossibleexistenceofidentitytheft.Examplesincludefraudalertsonanidentityreport,attempteduseofsuspiciousaccountapplicationdocuments(likeaforgeddriver’slicense),attempteduseofanotherperson’ssocialsecuritynumber,andunusualaccountactivity.Q:Whatisanidentitytheftpreventionprogram?A:Anidentitytheftpreventionprogramisawrittenprogramdesignedtoprevent,detect,andrespondtoredflagsrelevanttothecreditor’scoveredaccounts.Anidentitytheftpreventionprogrammustalsoprovideforprogramadministrationandoversightthroughanidentitytheftpreventioncommittee,annualreporting,andperiodicupdatingtoreflectthecreditor’sexperiencewithidentitytheftandchangesintechnologyandbusinesspractices,amongotherthings.Q:DoestheCityofLovelandhaveanidentitytheftpreventionprogram?A:Yes.TheCity’sutilitiesarecreditorswithcoveredaccounts,soitisrequiredtocomplywiththeRedFlagsRule.Complianceincludesestablishinganidentitytheftpreventionprogram.TheCityestablisheditsprogramonOctober21,2008byResolution#R-125-2008.TheCity’s
identitytheftpreventionprogramcreatedanidentitytheftpreventioncommittee,whichischargedwithidentifyingrelevantredflagsandcreatingprocedurestodetectandrespondtothoseredflags.Thecommitteealsoisresponsiblefortrainingapplicablestaff,providingannualreportstoCityCouncil,andmonitoringtheprogramforeffectivenessandtheneedforperiodicupdates.Q:WhocanIcontactwithquestionsabouttheRedFlagsRule?A:PleasecontacttheUtilityBillingCustomerServiceSupervisor.Ifhe/sheisunavailableorisunabletoansweryourquestions,pleasecontacttheFinanceDirectororCityAttorney’sOffice.0
RedFlagPolicyandIdentityTheftPreventionProgram(AdoptedpursuanttoResolutionoftheBoardofTrusteesoftheTownofEstesParkonJuly28,2009)PurposeToestablishanIdentityTheftPreventionPolicydesignedtodetect,preventandmitigateidentitytheftinconnectionwiththeopeningofacoveredaccountoranexistingcoveredaccountandtoprovideforcontinuedadministrationofthePolicyincompliancewithPart681ofTitle16oftheCodeofFederalRegulationsimplementingSections114and315oftheFairandAccurateCreditTransactionsAct(FACTA)of2003.Definitions1.TownmeanstheTownofEstesPark.2.CoveredAccountmeans:a.Anaccountthatafinancialinstitutionorcreditoroffersormaintains,primarilyforpersonal,family,orhouseholdpurposes,thatinvolvesorisdesignedtopermitmultiplepaymentsortransactions,suchasacreditcardaccount,mortgageloan,automobileloan,marginaccount,cellphoneaccount,utilityaccount,checkingaccount,orsavingsaccount;andb.Anyotheraccountthatthefinancialinstitutionorcreditoroffersormaintainsforwhichthereisareasonablyforeseeablerisktocustomersortothesafetyandsoundnessofthefinancialinstitutionorcreditorfromidentitytheft,includingfinancial,operational,compliance,reputation,orlitigationrisks.3.Creditmeanstherightgrantedbyacreditortoadebtortodeferpaymentofdebtortoincurdebtsanddeferitspaymentortopurchasepropertyorservicesanddeferpaymenttherefore.4.Creditormeansanypersonwhoregularlyextends,renews,orcontinuescredit;anypersonwhoregularlyarrangesfortheextension,renewal,orcontinuationofcredit;oranyassigneeofanoriginalcreditorwhoparticipatesinthedecisiontoextend,renew,orcontinuecreditandincludesutilitycompaniesandtelecommunicationscompanies.5.Customermeansapersonthathasacoveredaccountwithacreditor.6.Identitytheftmeansafraudcommittedorattemptedusingidentifyinginformationofanotherpersonwithoutauthority.7.Noticeofaddressdiscrepancymeansanoticesenttoauserbyaconsumerreportingagencypursuantto15U.S.C.§168l(c)(h)(1),thatinformstheuserofasubstantialdifferencebetweentheaddressfortheconsumerthattheuserprovidedtorequesttheconsumerreportandtheaddress(es)intheagency’sfilefortheconsumer.
1.8.Personmeansanaturalperson,acorporation,governmentorgovernmentalsubdivisionoragency,trust,estate,partnership,cooperative,orassociation.9.PersonalIdentifyingInformationmeansaperson’screditcardaccountinformation,debitcardinformation,bankaccountinformationanddrivers’licenseinformationandforanaturalpersonincludestheirsocialsecuritynumberanddateofbirth.10.Redflagmeansapattern,practice,orspecificactivitythatindicatesthepossibleexistenceofidentitytheft.11.ServiceprovidermeansapersonthatprovidesaservicedirectlytotheTown.Findings1.TheTownisacreditorpursuantto16CfR§681.2duetoitsprovisionformaintenanceofcoveredaccountsforwhichpaymentismadeinarrears.2.CoveredaccountsofferedtocustomersfortheprovisionofTownservicesincludeutilityaccounts,Museum,CVBandtheFairgrounds.3.Theprocessofopeninganewcoveredaccountandmakingpaymentsonsuchaccountshavebeenidentifiedaspotentialprocessesinwhichidentitytheftcouldoccur.4.TheTownlimitsaccesstopersonalidentifyinginformationtothoseemployeesresponsiblefororotherwiseinvolvedinopeningcoveredaccountsoracceptingpaymentforuseofcoveredaccounts.InformationprovidedtosuchemployeesisentereddirectlyintotheTown’scomputersystemandisnototherwiserecorded.5.TheTowndeterminesthatthereisalowriskofidentitytheftoccurringinthefollowingways:a.Usebyanapplicantofanotherperson’spersonalidentifyinginformationtoestablishanewcoveredaccount;andb.Useofanotherperson’screditcard,bankaccount,orothermethodofpaymentbyacustomertopaysuchcustomer’scoveredaccountoraccounts.ProcessofEstablishingaCoveredAccountAsapreconditiontoopeningacoveredaccountintheTown,eachapplicantshallprovidetheTownwithavalidgovernmentissuedidentificationcardcontainingaphotographoftheapplicant.Theidentificationnumberonthecardshallberecordedontheapplicationforservice.AccesstoCoveredAccountInformation1.AccesstocustomeraccountsshallbepasswordprotectedandshallbelimitedtoauthorizedTownpersonnel.(Z)2
2.AnyunauthorizedaccesstoorotherbreachofcustomeraccountsistobereportedimmediatelytotheAccountingManagerandthepasswordchangedimmediately.3.PersonalidentifyinginformationincludedincustomeraccountsisconsideredconfidentialandanyrequestordemandforsuchinformationshallbeimmediatelyforwardedtotheAccountingManager.CreditCardPayments1.IntheeventthatcreditcardpaymentsthataremadeovertheInternetareprocessedthroughathirdpartyserviceprovider,suchthirdpartyserviceprovidershallcertifythatithasanadequateidentitytheftpreventionprograminplacethatisapplicabletosuchpayments.2.Allcreditcardpaymentsmadeshallbeentereddirectlyintothecustomer’saccountinformationinthecomputerdatabase.3.Accountstatementsandreceiptsforcoveredaccountsshallincludeonlythelastfourdigitsofthecreditordebitcardorthebankaccountusedforpaymentofthecoveredaccount.SourcesandTypesofRedFlagsAllemployeesresponsiblefororinvolvedintheprocessofopeningacoveredaccountoracceptingpaymentforacoveredaccountshallcheckforredflagsasindicatorsofpossibleidentitytheftandsuchredflagsmayinclude:I.Alertsfromconsumerreportingagencies,frauddetectionagenciesorserviceproviders.Examplesofalertsincludebutarenotlimitedto:a.Afraudoractivedutyalertthatisincludedwithaconsumerreport;b.Anoticeofcreditfreezeinresponsetoarequestforaconsumerreport;c.Anoticeofaddressdiscrepancyprovidedbyaconsumerreportingagency;d.Indicationsofapatternofactivityinaconsumerreportthatisinconsistentwiththehistoryandusualpatternofactivityofanapplicantorcustomer,suchas:i.Arecentandsignificantincreaseinthevolumeofinquiries;ii.Anunusualnumberofrecentlyestablishedcreditrelationships;iii.Amaterialchangeintheuseofcredit,especiallywithrespecttorecentlyestablishedcreditrelationships;oriv.Anaccountthatwasclosedforcauseoridentifiedforabuseofaccountprivilegesbyafinancialinstitutionorcreditor.2.Suspiciousdocuments.Examplesofsuspiciousdocumentsinclude:a.Documentsprovidedforidentificationthatappeartobealteredorforged;3
b.Identificationonwhichthephotographorphysicaldescriptionisinconsistentwiththeappearanceoftheapplicantorcustomer;c.Identificationonwhichtheinformationisinconsistentwithinformationprovidedbytheapplicantorcustomer;d.Identificationonwhichtheinformationisinconsistentwithreadilyaccessibleinformationthatisonfilewiththecreditor,suchastheapplicationforservice;ore.Anapplicationthatappearstohavebeenalteredorforged,orappearstohavebeendestroyedandreassembled.3.Suspiciouspersonalidentification,suchassuspiciousaddresschange.Examplesofsuspiciousidentifyinginformationinclude:a.Personalidentifyinginformationthatisinconsistentwithexternalinformationsourcesusedbythefinancialinstitutionorcreditor.Forexample:i.Theaddressdoesnotmatchanyaddressintheconsumerreport;orii.TheSocialSecurityNumber(SSN)hasnotbeenissued,orislistedontheSocialSecurityAdministration’sDeathMasterfile.b.Personalidentifyinginformationprovidedbythecustomerisnotconsistentwithotherpersonalidentifyinginformationprovidedbythecustomer,suchasalackofcorrelationbetweentheSSNrangeanddateofbirth.c.Personalidentifyinginformationoraphonenumberoraddress,isassociatedwithknownfraudulentapplicationsoractivitiesasindicatedbyinternalorthird-partysourcesusedbythefinancialinstitutionorcreditor.d.Otherinformationprovided,suchasfictitiousmailingaddress,maildropaddresses,jailaddresses,invalidphonenumbers,pagernumbersoransweringservices,isassociatedwithfraudulentactivity.e.TheSSNprovidedisthesameasthatsubmittedbyotherapplicantsorcustomers.f.Theaddressortelephonenumberprovidedisthesameasorsimilartotheaccountnumberortelephonenumbersubmittedbyanunusuallylargenumberofapplicantsorcustomers.g.Theapplicantorcustomerfailstoprovideallrequiredpersonalidentifyinginformationonanapplicationorinresponsetonotificationthattheapplicationisincomplete.h.Personalidentifyinginformationisnotconsistentwithpersonalidentifyinginformationthatisonfilewiththefinancialinstitutionorcreditor.i.Theapplicantorcustomercarmotprovideauthenticatinginformationbeyondthatwhichgenerallywouldbeavailablefromawalletorconsumerreport.4.Unusualuseoforsuspiciousactivityrelatingtoacoveredaccount.Examplesofsuspiciousactivityinclude:a.Shortlyfollowingthenoticeofachangeofaddressforanaccount,Townreceivesarequestfortheadditionofauthorizedusersontheaccount.04
b.Anewrevolvingcreditaccountisusedinamannercommonlyassociatedwithknownpatternsoffraudpatterns.Forexample:i.Thecustomerfailstomakethefirstpaymentormakesaninitialpaymentbutnosubsequentpayments.c.Anaccountisusedinamaimerthatisnotconsistentwithestablishedpatternsofactivityontheaccount.Thereis,forexample:i.Nonpaymentwhenthereisnohistoryoflateormissedpayments;ii.Amaterialchangeinpurchasingorspendingpatterns;d.Anaccountthathasbeeninactiveforalongperiodoftimeisused(takingintoconsiderationthetypeofaccount,theexpectedpatternofusageandotherrelevantfactors).e.Mailsenttothecustomerisreturnedrepeatedlyasundeliverablealthoughtransactionscontinuetobeconductedinconnectionwiththecustomer’saccount.f.TheTownisnotifiedthatthecustomerisnotreceivingpaperaccountstatements.g.TheTownisnotifiedofunauthorizedchargesortransactionsinconnectionwithacustomer’saccount.h.TheTownisnotifiedbyacustomer,lawenforcementoranotherpersonthatithasopenedafraudulentaccountforapersonengagedinidentitytheft.5.Noticefromcustomers,lawenforcement,victimsorotherreliablesourcesregardingpossibleidentitytheftorphishingrelatingtocoveredaccounts.PreventionandMitigationofIdentityTheft1.IntheeventthatanyTownemployeeresponsiblefororinvolvedinrestoringanexistingcoveredaccountoracceptingpaymentforacoveredaccountbecomesawareofredflagsindicatingpossibleidentitytheftwithrespecttoexistingcoveredaccounts,suchemployeeshallusehisorherdiscretiontodeterminewhethersuchredflagorcombinationofredflagssuggestsathreatofidentitytheft.If,inhisorherdiscretion,suchemployeedeterminesthatidentitytheftorattemptedidentitytheftislikelyorprobable,suchemployeeshallimmediatelyreportsuchredflagstotheAccountingManager.If,inhisorherdiscretion,suchemployeedeemsthatidentitytheftisunlikelyorthatreliableinformationisavailabletoreconcileredflags,theemployeeshallconveythisinformationtotheAccountingManager,whomayinhisorherdiscretiondeterminethatnofurtheractionisnecessary.IftheAccountingManagerinhisorherdiscretiondeterminesthatfurtheractionisnecessary,aTownemployeeshallperformoneormoreofthefollowingresponses,asdeterminedtobeappropriatebytheAccountingManager:a.Contactthecustomer;b.Makethefollowingchangestotheaccountif,aftercontactingthecustomer,itisapparentthatsomeoneotherthanthecustomerhasaccessedthecustomer’scoveredaccount:5
ai.changeanyaccountnumbers,passwords,securitycodes,orothersecuritydevicesthatpermitaccesstoanaccount;orii.closetheaccount;c.Ceaseattemptstocollectadditionalchargesfromthecustomeranddeclinetosellthecustomer’saccounttoadebtcollectorintheeventthatthecustomer’saccounthasbeenaccessedwithoutauthorizationandsuchaccesshascausedadditionalchargestoaccrue;d.Notifyadebtcollectorwithin24hoursofthediscoveryoflikelyorprobableidentitytheftrelatingtoacustomeraccountthathasbeensoldtosuchdebtcollectorintheeventthatacustomer’saccounthasbeensoldtoadebtcollectorpriortothediscoveryofthelikelihoodorprobabilityofidentitytheftrelatingtosuchaccount;e.Notifylawenforcement,intheeventthatsomeoneotherthanthecustomerhasaccessedthecustomer’saccountcausingadditionalchargestoaccrueoraccessingpersonalidentifyinginformation;orf.Takeotherappropriateactiontopreventormitigateidentitytheft.2.IntheeventthatanyTownemployeeresponsiblefororinvolvedinopeninganewcoveredaccountbecomesawareofredflagsindicatingpossibleidentitytheftwithrespecttoanapplicationforanewaccount,suchemployeeshallusehisorherdiscretiontodeterminewhethersuchredflagorcombinationofredflagssuggestsathreatofidentitytheft.Ifinhisorherdiscretion,suchemployeedeterminesthatidentitytheftorattemptedidentitytheftislikelyorprobable,suchemployeeshallimmediatelyreportsuchredflagstotheAccountingManager.if,inhisorherdiscretion,suchemployeedeemsthatidentitytheftisunlikelyorthatreliableinformationisavailabletoreconcileredflags,theemployeeshallconveythisinformationtotheAccountingManager,whomayinhisorherdiscretiondeterminethatnofurtheractionisnecessary.IftheAccountingManagerinhisorherdiscretiondeterminesthatfurtheractionisnecessary,aTownemployeeshallperformoneormoreofthefollowingresponses,asdeterminedtobeappropriatebytheAccountingManager:a.Requestadditionalidentifyinginformationfromtheapplicant;5.Denytheapplicationforthenewaccount;c.Notifylawenforcementofpossibleidentitytheft;ord.Takeotherappropriateactiontopreventormitigateidentitytheft.UpdatingthePolicyTheAccountingManagershallannuallyreviewand,asdeemednecessarybytheAccountingManager,updatetheIdentityTheftPreventionPolicyalongwithanyrelevantredflagsinordertoreflectchangesinriskstocustomersortothesafetyandsoundnessoftheTownanditscoveredaccountsfromidentitytheft.Insodoing,theAccountingManagershallconsiderthefollowingfactorsandexerciseitsdiscretioninamendingtheprogram:6
•,11.TheTown’sexperienceswithidentitytheft;2.Updatesinmethodsofidentitytheft;3.Updatesincustomarymethodsusedtodetect,prevent,andmitigateidentitytheft;4.UpdatesinthetypesofaccountsthattheTownoffersormaintains;and5.Updatesinserviceproviderarrangements.ProgramAdministrationTheAccountingManagerisresponsibleforoversightoftheprogramandforprogramimplementation.ThefinanceDirectorisresponsibleforreviewingreportspreparedbystaffregardingcompliancewithredflagrequirementsandwithrecommendingmaterialchangestotheprogram,asnecessaryintheopinionoftheFinanceDirector,toaddresschangingidentitytheftrisksandtoidentifynewordiscontinuedtypesofcoveredaccounts.AnyrecommendedmaterialchangestotheprogramshallbesubmittedtotheTownCouncilforconsideration.1.TheAccountingManagerwillreporttothefinanceDirectoratleastannually,oncompliancewiththeredflagrequirements.Thereportwilladdressmaterialmattersrelatedtotheprogramandevaluateissuessuchas:a.TheeffectivenessofthepoliciesandproceduresoftheTowninaddressingtheriskofidentitytheftinconnectionwiththeopeningofcoveredaccountsandwithrespecttoexistingcoveredaccounts;b.Serviceproviderarrangements;c.Significantincidentsinvolvingidentitytheftandmanagement’sresponse;andd.RecommendationsformaterialchangestothePolicy.2.TheAccountingManagerisresponsibleforprovidingtrainingtoallemployeesresponsiblefororinvolvedinopeninganewcoveredaccountoracceptingpaymentforacoveredaccountwithrespecttotheimplementationandrequirementsoftheIdentityTheftPreventionProgram.TheAccountingManagershallexercisehisorherdiscretionindeterminingtheamountandsubstanceoftrainingnecessary.OutsideServiceProvidersIntheeventthattheTownengagesaserviceprovidertoperformanactivityinconnectionwithoneormorecoveredaccountstheAccountingManagershallexercisehisorherdiscretioninreviewingsucharrangementsinordertoensure,tothebestofhisorherability,thattheserviceprovider’sactivitiesareconductedinaccordancewithpoliciesandprocedures,agreeduponbycontract,thataredesignedtodetectanyredflagsthatmayariseintheperformanceoftheserviceprovider’sactivitiesandtakeappropriatestepstopreventormitigateidentitytheft.TreatmentofAddressDiscrepanciesPursuantto16CFR§681.1,thisestablishesaprocessbywhichtheTownwillbeabletoformareasonablebeliefthataconsumerreportrelatestotheconsumeraboutwhomithasrequestedaconsumercreditreportwhentheTownhasreceivedanoticeofaddressdiscrepancy.Intheevent7
thattheTownreceivesanoticeofaddressdiscrepancy,theTownemployeeresponsibleforverifyingconsumeraddressesforthepurposeofprovidingthemunicipalserviceoraccountsoughtbytheconsumershallperformoneormoreofthefollowingactivities,asdeterminedtobeappropriatebysuchemployee:1.Comparetheinformationintheconsumerreportwith:a.InformationtheTownobtainsandusestoverifyaconsumer’sidentityinaccordancewiththerequirementsoftheCustomerInformationProgramrulesimplementing31U.S.C.§5318(1);b.InformationtheTownmaintainsinitsownrecords,suchasapplicationsforservice,changeofaddressnotices,othercustomeraccountrecordsortaxrecords;orc.InformationtheTownobtainsfromthird-partysourcesthataredeemedreliablebytherelevantTownemployee;or2.Verifytheinformationintheconsumerreportwiththeconsumer.FurnishingConsumer’sAddresstoConsumerReportingAgency1.IntheeventthattheTownreasonablyconfirmsthatanaddressprovidedbyaconsumertotheTownisaccurate,theTownisrequiredtoprovidesuchaddresstotheconsumerreportingagencyfromwhichtheTownreceivedanoticeofaddressdiscrepancywithrespecttosuchconsumer.Thisinformationisrequiredtobeprovidedtotheconsumerreportingagencywhen:a.TheTownisabletoformareasonablebeliefthattheconsumerreportrelatestotheconsumeraboutwhomtheTownrequestedthereport;b.TheTownestablishesacontinuingrelationwiththeconsumer;andc.TheTownregularlyandintheordinarycourseofbusinessprovidesinformationtotheconsumerreportingagencyfromwhichitreceivedthenoticeofaddressdiscrepancy.2.SuchinformationshallbeprovidedtotheconsumerreportingagencyaspartoftheinformationregularlyprovidedbytheTowntosuchagencyforthereportingperiodinwhichtheTownestablishesarelationshipwiththecustomer.MethodsofConfirmingConsumerAddressesTheTownemployeechargedwithconfirmingconsumeraddressesmay,inhisorherdiscretion,confirmtheaccuracyofanaddressthroughoneormoreofthefollowingmethods:1.Verifyingtheaddresswiththeconsumer;2.ReviewingtheTown’srecordstoverifytheconsumer’saddress;3.Verifyingtheaddressthroughthirdpartysources;or4.Usingotherreasonableprocesses.08
RESOLUTION#14-09ARESOLUTIONADOPTINGANIDENTITYTHEFTPREVENTIONPROGRAMFORTHETOWNOFESTESPARK,COLORADOWHEREAS,pursuanttoSection114oftheFairandAccurateCreditTransactionsActof2003(“FACTAct”)andSection615(e)oftheFairCreditReportingAct(“FCRA”),theFederalTradeCommissionadoptedrules,setforthin16C.F.R.Part681,requitingfinancialinstitutionsandcreditorstoestablishanidentitytheftpreventionprogramdesignedtodetect,prevent,andmitigateidentitytheftinconnectionwiththeopeningandmanagingofcoveredaccounts(the“RedFlagRules”);andWHEREAS,theTownofEstesParkmustcomplywiththeRedFlagRulesbecauseit:(i)providesutilityservicestocustomersbeforebillingthemandisthereforea“creditor,”definedundertheRedFlagRulesasanentitythatregularlyextends,renews,orcontinuescredit;and(ii)offersutilityaccounts,whichare“coveredaccounts”forpurposesoftheRedFlagRules;andWHEREAS,theBoardofTrusteesoftheTownofEstesParkdesirestoestablishanidentitytheftpreventionprogramincompliancewiththeRedFlagRules.NOW,THEREFORE,BEITRESOLVEDBYTHEBOARDOFTRUSTEESOFTHETOWNOFESTESPARK,COLORADOASFOLLOWS:1.ThattheTownofEstesPark’sRedFlagPolicyandIdentityTheftPreventionProgram,attachedheretoasExhibitAandincorporatedhereinbyreference,isherebyadopted.Adoptedthis28thdayofJuly,2009.MayorATTEST:TownClerk