Little change in 2005 S’thorne budget
SILVERTHORNE – The town of Silverthorne has released its projection of the 2005 budget, which if passed by the town council, won’t differ greatly from this year.Sales tax revenues, which make up 68 percent of the general and capital improvement funds, are expected to increase by less than 1 percent, with no new businesses known to be opening in 2005.The general fund is expected to have $212,000 more than it did in 2004, bringing the total balance to $7.4 million. The money comes from a slight increase in money received from the recreation center, the Silverthorne Pavilion, interest and sales tax revenues.Meanwhile, general fund expenditures should increase by 5 percent to $7.6 million. The additional money pays for:- completing annual maintenance projects that have been neglected in years past because of budget shortfalls. – attacking the noxious weeds and pine beetle infestations.- increasing the publication of the town newsletter to six times a year from four times a year. – anticipating at least a 15 percent increase in natural gas prices.The difference between revenues and expenditures is $280,000 that was transferred from the general fund to the lodging tax fund to help pay for trail construction, said Donna Braun, the town’s finance director.The next largest fund is the sales tax capital improvement fund, which is made up of 60 percent of Silverthorne’s municipal sales tax.It’s expected to collect close to $2 million next year, with about half of that slated to cover the recreation center, pavilion and Blue River Parkway debt repayments.The remaining money will pay for a technology upgrade to Microsoft Office 2003, reconstruction of the Trent Park tennis courts, the replacement of three patrol SUV’s and two public work trucks, and $350,000 in street maintenance.Silverthorne plans to spend about $700,000 more on projects that are paid for by the special revenue fund in 2005 than in 2004, but also expects to take in about $400,000 more this year.The money in the fund comes from the 2-percent lodging tax, money from the Colorado Lottery, a $120,000 grant from the Colorado Division of Wildlife and the $280,000 boost from the general fund.Most of the extra money will be put toward the $9.6 million dollar Blue River experience, which includes restoration of Blue River, a new park and completion of the phase two and three of the Silverthorne/Dillon trail system, which will link town hall with the new elementary school on the northern part of town.The remaining balance will pay for any open space land purchases and marketing for the town.There will not be any increase in water or sewer fees next year, but tap rates will increase by $200, which should raise the incoming revenue.Out of this fund, Silverthorne plans to spend $81,000 to fill a new utility management position, $140,000 to upgrade utility lines, $750,000 to construct two new wells and a new pump house and $230,000 on asset management projects.A public hearing and final approval of the budget will be at 6 p.m. Wednesday at town hall.Nicole Formosa can be reached at (970) 668-3998, ext. 229, or at email@example.com.
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