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Monument adopts amended budget, new financial policies and water planning contracts
Summary
Council adopted the amended 2026 budget and appropriations, approved new financial policies (inventory, water-leak adjustment, vendor validation) and approved contracts to update the town—ngineering standards and water master plan.
The Monument Town Council adopted a midyear amendment to its 2026 budget and approved related appropriations and financial policies on a 5-0 vote.
Staff presented the amended budget showing an improved general fund cumulative balance under the amended column (cited in presentation as approximately $3,065,000) and noted increased interest-earning and modest sales-tax uplifts. Staff explained that several capital projects were re-timed and that some grant or impact-fee estimates are recorded as assigned revenues rather than general fund discretionary dollars.
During the public hearing on Resolution 37-2026 (amending the 2026 budget) and the subsequent approval of Resolution 38-2026 (appropriating funds), no member of the public addressed council and both measures passed unanimously.
Council also approved Resolution 41-2026 adopting updated financial policies. Three new policies were described in detail: an inventory policy requiring annual inventory and asset management for capital assets above $500; a water-leak adjustment policy that delegates waiver authority to the town manager and public works director while specifying customer eligibility and documentation; and a vendor/account-validation policy to reduce payment fraud, including use of an added Wells Fargo validation service (staff noted an estimated per-check validation cost).
Separately, the council approved two professional-services agreements to advance water planning: Resolution 39-2026 authorized a contract with More Engineering to update Monument's Water Master Plan (last updated in 2014) and Resolution 40-2026 engaged IMEG, the town engineer, to revise water standards and specifications. Public Works director Tom Tharnish said the water master plan is a routine planning tool for assessing buildout demands, mains and treatment needs, and that the comprehensive plan will inform the water planning updates. Both water-related agreements passed 5-0.
Council directed staff to continue implementation tasks tied to the budget, finalize procedural guidance for the new policies, and to coordinate water standards work with neighboring utilities where appropriate. The council did not identify any immediate changes to rates or personnel at the meeting beyond the contract approvals.
