Frisco Town Council approves 2022 budget | SummitDaily.com
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Frisco Town Council approves 2022 budget

The Frisco Bay Marina is pictured Aug. 23. Much of the town’s expenditures are related to capital projects such as work on the marina.
Joel Wexler/For the Summit Daily News

The town of Frisco approved a resolution officially adopting the 2022 budget at its meeting Tuesday, Oct. 26. The projected total fund balance for 2022 is $22.15 million, with all funds meeting their required reserves.

Frisco will go into 2022 with an estimated total fund balance of $37.32 million, and the total proposed expenditures are for $41.96 million, which includes a $928,193 transfer from the general fund to the capital fund.

Of that roughly $42 million, $19.7 million in operating costs, $887,000 are debt-related expenses and $20.5 million are capital related.



“The big changes in these particular funds, the general fund has gone up 11% in 2022, the capital improvement fund dropped 56% in fund balance, the (Summit Combined Housing Authority) fund dropped 70% in fund balance, and the marina fund dropped 75% in fund balance,” interim Finance Director Dylan Olchin said during the first reading of the budget ordinances Oct. 12. “This can mainly be attributed to all of the capital projects that you all have approved.”

The 41% overall drop in fund balance can be attributed to various projects such as workforce housing construction, Frisco Bay Marina work and construction of the new Slopeside Hall building at the Frisco Adventure Park.



The two-story Slopeside Hall is intended to complement the Frisco Day Lodge by providing additional community and youth programming space, more restrooms and a changing area. It also will house staff offices, which are largely located in the day lodge basement currently.

Funding will also be allocated for water treatment facility improvements, trails and wildfire mitigation efforts.

Offsetting the expenses is an estimated $25.86 million in revenue. Broken down by sources, not including property taxes, that includes funds such as $16.62 million from the general fund, $2.21 million from the capital fund, $2.34 million from the marina fund and more.

Frisco Town Council also approved the current mill levy of 0.798 mills in property tax for 2022 during the Tuesday meeting. New Frisco Finance Director Leslie Edwards said at the second reading of the budget ordinances Tuesday that the amount of the preliminary evaluations provided by the Summit County assessor is $264.73 million.

“That would equate to $211,253 in property tax for the town of Frisco,” Edwards said.

It was Edwards’ first Town Council meeting since officially starting Oct. 19. Edwards thanked and credited former Finance Director Bonnie Moinet for doing much of the budget work before the transition.

“I bring 16 years of government finance experience with me from the town of Breckenridge, and I look forward to adding on to that here at the town of Frisco,” Edwards said.


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