It’s budget season and on Tuesday the Dillon Town Council was the latest municipal entity in Summit County to review its finances going into 2014.
Carri McDonnell, finance director for the town of Dillon, presented the draft proposal and touched on a couple of the notable highlights, including 2013 revenues exceeding budgeted projections thus far and public improvement projects slated for next year.
Thanks to a positive revenue year, McDonnell said, the 2014 budget is going to be slightly larger than a year ago. In addition, 2014 revenues are expected to exceed expenses by a modest $38,000.
Dillon Town manager Joe Wray said this marks one of the first years since the 2008 economic downturn that town officials won’t be required to dip into reserves to maintain public services.
“We’re very pleased revenues are up over last year, which will allow us to build back up some reserves,” Wray said. “We had to dip into reserves to meet expenses because of downturn, so not having to do so this year certainly gives you that comfort level moving forward that you’ll be able to continue operations and move forward on some capital projects.”
As a result of those improved revenues, the town’s reserves are estimated to reach $1.6 million by the end of 2014, resulting in an estimated 2014 ending balance of $1.9 million.
Although revenues are expected to be positive this year and next year, the town is still in economic recovery mode and does not anticipate adding new programs in 2014, Wray said. However, the town also does not plan to raise its fees, such as water and sewer rates.
Of the town’s $10.1 million in anticipated 2014 expenses, $2.8 million has been earmarked for a variety of capital projects, including Marina Park master plan improvements, recreational path resurfacing, equipment replacement for the Parks and Public Works departments, as well as several street improvement projects.
The town budget is now available for public review and may be accessed online at the town of Dillon website. Hard copies also are available at Dillon Town Hall, 275 Lake Dillon Drive.
The proposed budget will remain unchanged until Tuesday, Nov. 5, when Dillon Town Council plans to hold a public hearing. Changes may be made after that meeting to reflect updated data for 2013’s revenues and expenses. The budget also may be altered to reflect additional estimated revenues should Dillon’s user-based tax increase be approved by voters during the November election.
In August, Dillon Town Council passed an ordinance to add Referred Issue 2E as a November ballot question. The propositions would levy an up to $1 tax on the price of admissions for certain public events, such as concerts, as well as impose the town’s 2.5 percent sales tax on recreational rental activity.
If passed in November, the taxes would go into effect Jan. 1, 2014, and could generate an estimated $200,000 in revenue annually.