Breckenridge sales tax activity up in July relative to 2009
September 16, 2010
BRECKENRIDGE – Town tax revenue in July was recorded above 2009 numbers, and Breckenridge appears to be in a slightly better situation.
“We’re hopeful that we will be really close to budget,” said Brian Waldes, town financial services manager. “If the current trend holds, that’s what will happen … But we still have a lot of important months yet remaining.”
The town’s year-to-date revenue is 107 percent of budget, but it’s flat relative to 2009.
“The retail in July was fabulous, and it’s great to see people shopping again,” Councilwoman Jennifer McAtamney said.
At $15.7 million, July has been the strongest month for taxable sales since March, when $38 million in taxable sales were made.
Summer sales tax activity is never as productive big as winter months, in part because travelers have more places to visit in the summer.
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“It’s just not as great as wintertime, when everyone’s coming to ski,” McAtamney said.
The town’s expenses are pacing at 97 percent of budget, according to a town staff memo.
Relative to 2009, July sales tax activity was up more than 3 percent.
For this year, the town budgeted for revenue to be 1 percent less than in 2009, “but we’re actually seeing a 1-2 percent increase,” Waldes said.
The town last year made a series of budget cuts as the national economic recession caused significant drops in revenue.
As for 2011, town staff are expecting to keep the budget similar.
“We don’t really think the economy will recover to a large degree very rapidly,” Waldes said. “We’re just trying to be conservative.”
SDN reporter Robert Allen can be contacted at (970) 668-4628 or email@example.com.