Frisco remains within budget despite declining revenue
FRISCO – Frisco collected about $290,000 in revenue for May this year – a little more than half of what it received the same time last year.
May revenue dropped 45 percent this year. Although that makes it the fifth month in a row town revenue was down by double-digits, town officials still aren’t worried, Town Manager Alan Briley said.
“It looks to me like May of last year was an anomaly,” Briley said Tuesday.
Last May, the town collected more than $530,000 in revenue. The average revenue for May from 1998 to 2001, however, was around $350,000. Because Briley was not yet working with Frisco last spring, he couldn’t explain the significant jump in 2003’s May revenue.
“I really don’t know if it was a strong May last year or a lot of late payers,” he said. “If you take the average of the four years prior to that, that’s only 17 percent down.”
Historically, May is Frisco’s worst month for sales tax revenue.
While a 45 percent drop in revenue might sound alarming, town officials planned for a 17 to 18 percent decline in revenue this year. May revenue puts the town’s coffers down 15.5 percent to date, but only 2.5 percent under the projected budget.
“We’re running right where we thought,” Briley said.
Town officials are optimistic that revenue will turn around in July and August – typically, two of Frisco’s higher months for revenue. (December and March usually provide the highest profits.)
Like much of Colorado, Frisco revenue suffered last summer from the combination of the soft economy, Colorado wildfires and the drought. In an effort to lure tourists back to Frisco this year, officials spent extra money on the town’s Fourth of July event and featured its annual fireworks display plus a band. They also spent money to market the event to the Front Range – an investment they hadn’t made in several years.
“It seemed like we had more people on Frisco’s Main Street than we ever had before,” said Linda Lichtendahl, Frisco community relations director.
The Fourth’s good turnout has town officials feeling optimistic about the rest of the summer.
“We anticipate a better summer than last year,” Briley said.
Lu Snyder can be reached at (970) 668-3998, ext. 203, or
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