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HomeMy WebLinkAboutMINUTES Estes Park Building Authority 1994-02-28RECORD OF PROCEEDINGS Estes Park Building Authority February 28,1994 Attending:Jim Banker,Dr.James Durward,Peggy Lynch, Richard Widmer,Monte Vavra Absent:Gary Kiaphake President Widmer called the meeting to order at 8:12 A.M. President Widmer Turned over the chair to Vice President Lynch for the first agenda item to appoint Richard Widmer to a three year term from 1994 to 1997,as ratified by the Town of Estes Park Board of Trustees,it was moved and seconded (Banker/Lynch)and passed unanimously. Minutes of the January 11,1993 meeting wereeviewed,moved and seconded to approve (Banker/Lynch),and passed unanimously. It was moved and seconded (Banker/Durward)to nominate officers for the year 1994 as follows: Richard Widmer —President Peggy Lynch —Vice—President Monte Vavra —Secretary/Treasurer and it passed unanimously. Secretary/Treasurer Vavra presented the 1993 financial statement. It was moved and seconded (Banker/Lynch)to accept the reports as presented,and it passed unanimously. Secretary/Treasurer Vavra presented the proposed 1994 Budget for the Reserve and Debt Service Funds.It was moved and seconded (Lynch/Banker)to adopt the 1994 Budget as presented,and it passed unanimously. Other topics discussed included the future of issuing C.O.P.’s. Since the passing of the Tabor amendment in 1992 there have been no issues of Revenue bonds or C.O.P.’s,the Town does not anticipate pursuing any project in 1994 that would require the issuing of C.O.P.’s.Most debt election issues have been litigated and are working their way through the court system. Discussion also included the Recreation District using the Building Authority to finance the Recreation District proposed Recreation Center.At this time the Recreation District is seeking voter support for a G.O.Bond issue and not a revenue bond or C.O.P.,so it would be of no value to use the bonding ability of the Building Authority. There being no further business,the meeting was adjourned at 8:47 A.M. MOnt L.Vavra,SecretarvJTreasurer in ESTES PARK BUILDING AUTHORITY RESERVE FUND BALANCE SHEET December 31,1994 ASSETS Cash &investments $110,542.78 TOTAL ASSETS 110,542.78 LIABILITIES &ENCUMBRANCES Liabilities 0.00 Encumbrances 0.00 TOTAL LIABILITIES &ENCUMBRANCES 0.00 FUND BALANCES Fund Balance: Revenue 3,768.83 Expenditures 4,368.97 Reserve for Encumbrances 0.00 TOTAL FUND BALANCE 111,142.92 TOTAL LIABILITIES &FUND BALANCES $110,542.78 0• ESTES PARK BUILDING AUTHORITY RESERVE FUND STATEMENT OF REVENUE &EXPENDITURES December 31,1994 Year-to Budget Quarter Date REVENUE: Interest Earned 3,000 1,187.99 3,768.83 Total Revenue 3,000 1,187.99 3,768.83 EXPENDITURES: Transfer to Debt Service Fund 3,242 2,879.43 4,368.97 Total Expenditures 3,242 2,879.43 4,368.97 ESTES PARK BUILDING AUTHORITY DEBT SERVICE FUND BALANCE SHEET December 31,1994 ASSETS Cash &investments $826.98 TOTAL ASSETS 826.98 LIABILITIES &ENCUMBRANCES Accrued Interest 0.00 TOTAL LIABILITIES &ENCUMBRANCES 0.00 FUND BALANCES Fund Balance: Revenue 105,179.97 Expenditures 104,356.31 Unreserved 3.32 TOTAL FUND BALANCE 826.98 TOTAL LIABILITIES &FUND BALANCES $826.98 REVENUE: Lease Rental Revenue Other Revenue Interest Earnings Transfer from Reserve Fund Total Revenue ESTES PARK BUILDING AUTHORITY DEBT SERVICE FUND STATEMENT OF REVENUE &EXPENDITURES December 31,1994 EXPENDITURES: Bond Payments Interest Paying Agent Fees Total Expenditures 30,000 75,362 1,500 106,962 30,000.00 37,178.15 0.00 67,178.15 30,000.00 74,356.31 0.00 104,356.31 Year-to Budget Quarter Date 102,017 65,071.51 100,760.13 1,600 0.00 0.00 100 4.32 50.87 3,242 2,879.43 4,368.97 106,959 67,955.26 105,179.97 0 0 ESTES PARK BUILDING AUTHORITY 1995 RESERVE FUND 1993 1994 1995 REVENUE Actual Estiniate Budget Interest Earnings 2,967 3,580 4,500 TOTAL REVENUE 2,967 3,580 4,500 EXPENDITURES Transfer to Debt Service 2,726 3,822 4,500 TOTAL EXPENDITURES 2,726 3,822 4,500 Revenues Oven (Under) Expenditures 241 (242)0 Beginning Balance 110,901 111,142 110,900 Ending Balance 111,142 110,900 110,900 e © ESTES PARK BUILDING AUTHORITY 1995 DEBT SERVICE FUND 1993 199 1995 REVENUE Actual Estimate Budget Lease Rental Revenue 102,486 100,762 107,332 Other Revenue 1,580 0 1,500 Interest Earnings 36 100 100 Transfer from Reserve Fund 2,726 3,822 4,500 TOTAL REVENUE 106,828 104,684 113,432 EXPENDITURES Bond Payment 30,000 30,000 35,000 Interest 76,367 74,357 72,332 Paying Agent Fees 1,580 0 1,500 TOTAL EXPENDITURES 107,947 104,357 108,832 Revenues Over!(Under) Expenditures (1,119)327 4,600 Beginning Balance 1,122 3 330 Ending Balance 3 330 4,930 e