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ENLARGE
SILVERTHORNE — After weighing its options, the Silverthorne Town Council unanimously approved a second round of budget cuts Wednesday to make up for sales-tax numbers being down 14 percent through April. Budget amendments were deemed necessary after Silverthorne's staff projected $943,908 in revenue shortfall for 2009.
“We pride ourselves on living within our means,” said Donna Braun, Silverthorne's director of finances. “Hopefully this is the last of the reductions we'll see in 2009.”
The second level of budget reductions for the town are based on sales-tax collection through March, with an estimated 10-percent sales tax decrease for the rest of the year. Town expenses are being cumulatively reduced by $732,893.
Even with a second round of budget cuts, the town is using its surplus to make up the difference. And that's after Braun shaved $265,000 in expenditures from the budget before the year started, doing away with some supplies and services.
With the passage of the second budget amendment, Silverthorne's staff will experience wage freezes, overtime cuts and mandatory 10-day vacations — “Two-week furloughs will be mostly paid because of banked time,” Braun said.
Town staff will not experience pay reductions in this round of budget cuts. Additionally, four open positions will remain vacant for the rest of the year as a cost-reduction strategy and less people are being hired for seasonal positions.
Braun is also recommending Silverthorne cut its 2009 Blue River Festival set for Sept. 11 and 12. By canceling the festival this year, the town will save $45,000.
The Blue River Festival is the primary fundraiser that contributes to the town's river restoration fund. As the lead agency on restoration projects, the town has raised funds and solicited grants to construct fish habitat enhancement structures, expand public access areas and maintain the Lower Blue's Gold Medal Trout designation. The Town of Silverthorne has been charged with maintaining river health between the Dillon Dam and Green Mountain Reservoir since 2003.
“We'll probably revisit it in 2010,” Braun said of the festival.
“We pride ourselves on living within our means,” said Donna Braun, Silverthorne's director of finances. “Hopefully this is the last of the reductions we'll see in 2009.”
The second level of budget reductions for the town are based on sales-tax collection through March, with an estimated 10-percent sales tax decrease for the rest of the year. Town expenses are being cumulatively reduced by $732,893.
Even with a second round of budget cuts, the town is using its surplus to make up the difference. And that's after Braun shaved $265,000 in expenditures from the budget before the year started, doing away with some supplies and services.
With the passage of the second budget amendment, Silverthorne's staff will experience wage freezes, overtime cuts and mandatory 10-day vacations — “Two-week furloughs will be mostly paid because of banked time,” Braun said.
Town staff will not experience pay reductions in this round of budget cuts. Additionally, four open positions will remain vacant for the rest of the year as a cost-reduction strategy and less people are being hired for seasonal positions.
Braun is also recommending Silverthorne cut its 2009 Blue River Festival set for Sept. 11 and 12. By canceling the festival this year, the town will save $45,000.
The Blue River Festival is the primary fundraiser that contributes to the town's river restoration fund. As the lead agency on restoration projects, the town has raised funds and solicited grants to construct fish habitat enhancement structures, expand public access areas and maintain the Lower Blue's Gold Medal Trout designation. The Town of Silverthorne has been charged with maintaining river health between the Dillon Dam and Green Mountain Reservoir since 2003.
“We'll probably revisit it in 2010,” Braun said of the festival.
Smaller cuts
Other ways the town is saving money includes office closures for holidays and other days, e-mailing the town newsletter instead of printing it, and cutting back on supplies. Town departments have come up with $148,050 in supply and service reductions, the largest of which is a $65,000 reduction for fuel and vehicle-related supplies. “I'm glad everyone's taking necessary cuts,” said Mayor Dave Koop.
Council woman Peggy Long said “We're lucky to have Donna (Braun).”
Though Silverthorne staff had to cut back on projects, Braun said she hopes to add certain projects back into the budget “depending on the 2009 economy.”
The town did get two breaks to ameliorate some of its fund deficiencies — 1) Silverthorne will see an increase to its sales-tax revenue from Target. Approximately $320,000 in sales-tax revenue is being added into the town budget — funds that were previously rebated back to Target as part of an ESTIP (Enhanced Sales Tax Incentive Program) agreement. The town recently paid off its ESTIP commitment to Target in March, completely reimbursing the store for its public road improvements.
And 2) Braun said current sales at the Outlets in Silverthorne are OK and doing better than expected.
“Everyone needs a new blouse to brighten your day, right?” Braun said.
To look at a full list of budget cuts by department, visit www.silverthorne.org.
