Silverthorne sales tax numbers down for December, 2008
summit daily news
Silverthorne, CO Colorado
SILVERTHORNE ” Overall revenues in 2008 met projections for the Silverthorne town budget, despite sales-tax collection being down $268,000, or 3.1 percent.
Silverthorne didn’t spend all of its expenditure budget, and the town had revenues that came in over and above expectations, said Donna Braun, director of finances for the town.
The Silverthorne Recreation Center income and building permits were higher than expected.
But Silverthorne sales-tax numbers collected were down 7.3 percent from December 2007.
“Obviously we’re not thrilled to see sales-tax revenues down that much, but what isn’t down right now?” Braun said. “Existing businesses were projected to be down 1 percent overall for 2009. Only time will tell, this year in particular.”
Braun also confirmed that the Outlets at Silverthorne sales-tax numbers were down 9.7 percent for December, or about $31,000. The Outlets finished out the year being 5 percent down, or $162,000.
“The new stores are helping, and they’re holding their own in a very complex environment right now,” Braun said.
Silverthorne went ahead and cut about 3 percent of the general fund expenditure budget for 2009 in preparation for revenues being down for this year, Braun added.
The town also put about 25 percent of town improvements on hold through prioritization and saved just under a million dollars.
“All of our revenues will be pretty subjective,” Braun said for 2009. “The recreation center is stable. Things would have to get pretty bad for people to stop going to the rec center. We can’t guess at building permits. Overall, we’re tentatively going into the year being very cautious.”
Despite the uncertainty, Silverthorne is working hard to ensure that the downturn does not effect government services.
“It’s difficult in this environment to make any realistic projections,” Braun said. “It’s just too bizarre right now trying to guess what things are going to be.”
January sales-tax numbers will be released in March.
Caitlin Row can be reached at (970) 668-4633 or at firstname.lastname@example.org.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.