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SUBJECT: URD BUDGET AND CALCULATION OF PLEDGED REVENUE <br />DATE: OCTOBER 8, 2019 PAGE 2 OF 6 <br />Urban Revitalization District <br />Proposed Budget for 2020 <br />2017 2018 2019 <br />Actual Actual Budget Estimate <br />Beginning Fund Balance 3,398,940 768,444 921,851 921,851 <br />Revenue: <br />Property Tax <br />Interest Earnings <br />Total Revenue <br />795.640 1.269. 070 1.615.382 1.675.100 <br />21.770 30.379 2.000 25.000 <br />817,410 1,289,448 1,617,382 1,700,100 <br />Expenditures: <br />Support Services - COL 25.577 34.900 60,000 60.000 <br />Cap Contr - COL - Underpass 75.000 300.118 948.107 948.110 <br />Cap Contr - COL - South St Reconstruct 178.327 24.905 <br />Regional Detention Land Comp - COL 202.500 - <br />Cap Contr - COL - Undergrounding - - 170.000 170.000 <br />Cap Contr - COL - Downtown Lights - - 70.000 70,000 <br />TIF Refund - Boulder County 56.035 88.673 115.500 119,770 <br />TIF Refund - Fire District - - <br />TIF Rebate - Loftus Developmen 102.911 192.123 <br />Bond Maint Fees - Paying Agent 6.500 7.150 7.150 7.150 <br />Professional Services - Investment Fees 3.176 3,484 200 3.500 <br />Professional Services - Other 1.221 21,870 24.470 <br />Payments from Construction Acct - DELO 2.465.745 127.518 <br />Principal -Bonds 153.391 205.000 <br />Interest -Bonds 330.914 335.300 344.374 344.370 <br />Total Expenditures 3,441,906 1,136,041 1,868,722 1,952,310 <br />Ending Fund Balance 168,444 921,851 670,511 669,581 <br />2020 <br />Bud( et <br />669,581 <br />1.998.540 <br />30.000 <br />2,028,540 <br />60.000 <br />72.000 <br />142.900 <br />75.870 <br />7.150 <br />3.500 <br />20.000 <br />310.000 <br />355.000 <br />330.020 <br />1,376,440 <br />1,321,681 <br />Beginning Fund Balance <br />Staff is projecting a 2019 ending fund balance of $669,581, which is the beginning fund <br />balance for 2020. <br />Revenue <br />Staff has received the preliminary 2019 assessed valuation from the Boulder County <br />Assessor. This valuation, along with the overlapping mil levies, will determine the amount <br />of property tax revenue received by the URD during 2020. The final assessed valuation <br />will not be available until the end of November. <br />CITY COUNCIL COMMUNICATION <br />3 <br />