City of Colorado Springs Citizens Academy

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City of Colorado SpringsCitizens Academy
Overview of Enterprise Funds October 22, 2008
Overview of City Budget
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What is an Enterprise Fund?

• Accounting Definition
• Funds that account for the acquisition,
  operation, and maintenance of the citys
  facilities and services which are entirely or
  predominantly supported by user charges.

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What is an Enterprise Fund?

• Definition under TABOR
• Article VII Section 7-90 (b)(2) states
• Enterprise means a City-owned business
  receiving over seventy-five percent (75) of
  annual non-debt revenue from non-government
  sources.

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Prelim 2009 City Budget
All Funds Total 355,633,682
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City of Colorado Springs Enterprises

• Airport
• Cemeteries
• Development Review
• Human Services Complex
• Parking System
• Patty Jewett Golf Course
• Pikes Peak Americas Mountain
• Stormwater
• Valley Hi Golf Course

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Colorado Springs Airport
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Colorado Springs Airport

• COSOwned and Operated By City
• Operates as an Enterprise Fund
• Self-Funding
• Day-to-Day Operations Funded by Revenues from
  Business Activity at Airport
• Capital Projects Funded by Federal Grants,
  Passenger Facility Charges and Operating Reserves

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Colorado Springs Airport

• The Department of Aviation Manages the Overall
  Airport
• COS is a Property Management Company with an
  Aviation Focus
• Directly Responsible for Managing the Airfield
  and Terminal Building
• Most Other Services Offered Through
  Private-Sector Companies

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Colorado Springs Airport

• Airport Businesses
• Terminal Area
• AirlinesLanding Fees, Terminal Leases
• Parking
• Rental Cars
• Restaurants
• Gift Shops and News Stands
• Display Advertising
• Smaller Businesses
• Ground Transportation

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Colorado Springs Airport

• General Aviation
• Corporate Aircraft
• Privately Owned Aircraft
• Fixed Base Operators (FBOs)
• Flight Schools
• Aircraft Maintenance
• Military
• Peterson AFB
• A/DACG

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Colorado Springs Airport

• Cresterra Business Center
• 1000 Acre Business Park on South Side of Airport
• Natural Extension of the Property Management
  Business
• Revenue Generator for Airport
• Economic Development Generator for Colorado
  Springs Region

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PIKES PEAK-AMERICAS MOUNTAIN
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PIKES PEAK-AMERICAS MOUNTAIN

• Pikes Peak-Americas Mountain operates the Pikes
  Peak Highway and the associated visitor
  facilities including the Summit House, Glen Cove
  Inn and Crystal Reservoir Gift Shop, and the
  recreational corridor (hiking, picnic grounds,
  and interpretive trail) under a Term Special Use
  Permit issued by the U.S. Forest Service.
• Revenue is generated from tollgate revenue and
  concessionaire fees.
• These fees provide Visitor and Ranger Services,
  Highway maintenance and construction, Facility
  maintenance and construction, and Interpretive
  and Educational Services, and special project
  funding such as the Erosion and Sediment Control
  Project.

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Special Use Permit

• First issued by USFS in 1948
• Current Permit 1990-2020
• Highway and all structures are owned by the
  United States under the administration of the
  USFS (except for Maintenance Garage and Crystal
  Reservoir Visitors Center)
• Permit is not transferable holder may sublease
  use of land, concessions, etc.
• All income derived from permitted uses must be
  used for funding the Operating Plan and Budget.

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(No Transcript)
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Erosion Sedimentation Control Project

• Background
• In April 1999 the City of Colorado Springs signed
  a Consent Decree to complete the Erosion and
  Sedimentation Control Project in accordance with
  the approved Clean Water Act 401 Certification.
• (City of Colorado Springs is responsible for
  fulfilling the terms of the Settlement Agreement
  and will not be relieved of this liability even
  if the City terminates the permit.)
• Funding comes from LART and Pikes Peak Revenues

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TABLE 1 SUMMARY OF DESIGN AND CONSTRUCTION
SCHEDULE AND COSTS (Based upon the approved
Clean Water Act 401 Certification)

• (as of Aug. 9, 2007)
• NOTES
• Final Design Approval is the date that the U.S.
  Forest Service approved the plans.
• Cost Expended to date Represents costs expended
  by Pikes Peak-Americas Mountain for contract
  work, work completed by Public Works divisions,
  and Pikes Peak Highway staff (Note Costs for
  PPH are estimates based upon hours expended).
• Design costs include funds spent for design
  contractors, subcontractors (surveying and
  environmental), and quality control actions or
  items, such as testing.
• Estimated costs to complete are based upon
  Frontier Environmental Services bid for Basins 5
  and 6. Basin 7 is estimated based upon
  information provided for Basins 5 and 6. There
  is no escalation for these costs. Costs based
  upon the construction being competitively bid.

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Parking System Enterprise
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Summary of Department

• The Parking System Enterprise provides public
  parking spaces as a key element in maintaining
  the economic vitality of our downtown.
• Publically provided parking is an economic
  development tool to attract private investment
  into our community and manage urban growth.

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Parking supply

• On-street metered parking spaces
• Downtown Old Colorado City areas.
• Off-street Parking Garages Lots.

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On-street metered parking
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2400 on-street parking meters.
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Collect, Install, and maintain all meters.
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Projected parking meter revenue for 2008 2.0
million.
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Off-street parking garages lots
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650 Space Kiowa Parking Garage Transit Terminal.
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1,100 Space CAB Parking Garage.
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Newly Expanded CAB Parking Garage 525 Additional
Parking Spaces Opened October 2007
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305 Space Bijou/Cascade Parking Garage
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42 Space Old Colorado City Surface Lot.
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Projected off-street revenues for 2008 2.1
million.
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Primary funding source for the Downtown Action
Plan (DAP) Streetscape Project.
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5 year Capital Improvement Plan
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Projects to be funded

• Expand the CAB Parking Garage.
• Complete DAP improvements in downtown core.
• Add debit card technology to meters in downtown
  core.
• Construct medians on Nevada Avenue and Pikes Peak
  Avenue.

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Patty Jewett Valley Hi Golf Courses
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Golf Mission Statement

• To provide a high quality golf experience at the
  lowest possible cost while being a financially
  responsible self supporting enterprise.

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Patty Jewett Golf Course

• Deeded to the City of Colorado Springs in 1919.
• Relevant provision from the Patty Jewett deed
• The City shall properly maintain said property
  for the purposes above set forth and in case it
  fails to so do the property shall revert to me or
  my heirs.

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Valley Hi Golf Course

• Purchased by the City of Colorado Springs in
  1976.
• Projected 2008 Revenue and Expenses
• Revenue Expenses
• 1,222,510 1,192,148
• Actual 2007 Revenue and Expenses
• Revenue Expenses
• 1,128,966 1,262,832

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Cemeteries
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Brief History

• Evergreen Cemetery circa 1875
• 200 acres
• Final resting place - 80,000 individuals
• Additional capacity for 75 to 100 years
• Fairview Cemetery circa 1890
• 32 acres
• Final resting place 13,000 individuals
• Additional capacity for 25 years

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Fund Balance Last Six Years
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Expenses vs. Revenues
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Cemetery Endowment Fund
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Challenges

• Changing industry trend toward cremation
• Competing with other full-service businesses
• Unfunded capital needs
• Operational costs (irrigation water)
• Veterans Cemetery in El Paso/Pueblo County
• Military veterans up to 30 of burials in any
  given year (both veteran and spouse are eligible)