May 10, 2024

Pikes Peak Rural Transportation Authority Board of Directors

RE: City of Manitou Springs 2023 Revenue Allocation Adjustment

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On June 14, 2023, the PPRTA Board determined to create a process to remedy a deficit in contributions compared to allocations for Manitou Springs. It is our understanding staff recently completed the 2023 reconciliation and allocation adjustment, which results in an additional $58,125 in maintenance funds and $108,942 in capital funds to Manitou Springs.

Manitou Springs requests Board approval of the staff recommendation. Upon approval, the city proposes to use the additional funds as follows.

Maintenance Allocation

The additional funds will be used to expand the scope of the Manitou Springs 2024 Road Maintenance and Sidewalk project list. Additional, street maintenance, sidewalk repair and drainage maintenance will be performed.

Capital Allocation

The additional funds will be used on two projects. First, we propose to add $953 to the West Colorado Avenue project to “zero” out the project budget which currently has a negative balance. Second, the city will add $108,942 to the Transit Shuttle Parking project.

The city understands that in the event Manitou Springs experiences a surplus instead of a deficit, the surplus would be allocated at mid-year Budget Amendment to the other five member governments.

Thank you.