HomeMy WebLinkAbout18. 2017 budget hearingsFOR IMMEDIATE RELEASE
October 14, 2016
Contact: Stan Zemler, 970-479-2105
Vail Town Manager
Proposed 2017 Vail Municipal Budget Available for Public Review
(Vail)—Public comment opportunities will take place on Tuesday, Oct. 18 and on Tuesday, Nov.
1 as the Vail Town Council reviews the proposed 2017 municipal budget. The $62 million
expenditure plan is available on the town’s website at www.vailgov.com. First reading of the
budget ordinance is listed as action item 5.4 on the Oct. 18 meeting agenda which begins at 6
p.m. in the Vail Town Council Chambers. The budget will also be reviewed in a study session
format during the Town Council’s regular afternoon meeting which begins at 1:30 p.m.
As presented by Town Manager Stan Zemler, the 2017 budget proposal assumes a
continuation of current service levels within a cautiously optimistic economic forecast. The
spending plan also focuses on topics important to the Town Council and community at large as
identified in the 2016 community survey, including housing, parking and environmental
sustainability. This includes a recommended $500,000 to be used for the purchase of housing
deed restrictions, continued planning and eventual construction of the Chamonix Neighborhood
in West Vail as well as other implementation actions identified in the newly-adopted Housing
Strategic Plan update. The budget recommendation also includes $2.1 million for water quality
and landscape improvements at the East Vail interchange and $900,000 for water quality
projects.
In addition, there are several new budget requests to help align resources and equipment to
accommodate added service levels associated with newer capital improvements throughout
town such as renovation of Booth Creek Park, the new pickleball courts at Golden Peak,
medians on the frontage road and the Vail I-70 underpass
The recommended operational budget for 2017 is $37.3 million, an increase of 0.9 percent from
the 2016 amended budget. As a service organization, the majority of spending in the General
Fund is for staffing. For 2017, this represents $24 million, or 64 percent of total expenditures.
The town’s proposed staffing level includes 310.14 full-time equivalent positions, an increase of
10.14 FTEs from the prior year. Approximately five of the new headcount requested for 2017
correspond to the town’s decision to operate the Welcome Centers internally which does not
add to the town’s overall expenditures. The remaining positions relate to the additional capital
investments made over the last couple of years. These additional maintenance responsibilities
will support parking and roadway improvements, the new Zeke M. Pierce Skatepark and the Vail
I-70 Underpass starting next winter season. The budget also proposes a maximum 4 percent
performance-based merit increase.
Revenue projections include an estimated $26.1 million in sales tax collections for the coming
year, an increase of 2 percent over the 2016 budget. Year to date sales tax collections in 2016
are currently up 2.2 percent from 2015 and 0.4 percent up from budget, respectively. Sales tax
is the town’s largest single revenue source. Property tax collections are estimated at $4.9
million, flat with the 2016 budget. Lift tax collections of $4.9 million are projected at a five
percent increase from 2016. Parking revenue of $5.2 million is a 4.2 percent increase from the
2016 budget. Revenue from the Real Estate Transfer Tax is projected at $5.8 million, a 10
percent decrease from the 2016 budget but flat with projected year-end collections. Revenue
from the construction use tax is projected at $1.5 million, flat with the 2016 budget. The estimate
is based on no new major redevelopment projects during the year.
General Fund reserves are projected at $23.6 million by the end of 2016 and $24.8 million by
the end of 2017. Year-end reserves for all funds are projected to be $52 million by the end of
2016 and $54.6 million by the end of 2017.
As proposed, the 2017 budget includes investment in economic development initiatives of
$867,000 in signature events to include $404,000 for the Burton US Open Snowboarding
Championships; $258,661 for Bravo! Colorado; $74,902 for Vail Jazz Festival; $48,962 for Vail
International Dance Festival; $27,500 for Hot Summer Nights; and $52,012 for New Year’s Eve
and Vail America Days fireworks. In addition, Town Council funding for allocations
recommended by the Commission on Special Events (CSE) for multiple Cultural, Recreation
and Community Events such as the GoPro Games, Vail Farmers’ Market, Taste of Vail,
Oktoberfest, Snow Daze, Vail Film Festival and many others is nearly $894,000. Another
$151,000 has been allocated for sponsorship of Education and Enrichment initiatives such as
the Vail Symposium, Vail Valley Veteran’s Program, and the Vail Centre in support of their
mission to provide the community with “an abundance of recreational, cultural and educational
opportunities.” CSE funds come from Business License fees and the General Fund.
Also during the budget hearings, the Town Council will review an additional $372,792 in
recommended service contributions requested by local non-profit organizations including the
Colorado Ski Museum, Betty Ford Alpine Gardens, Eagle Valley Childcare, High Five Access
Media and Eagle River Watershed Council.
A $3.75 million recommended spending plan for 2017 activities funded by the Vail Local
Marketing District and its 1.4 percent lodging tax is included.
The 2017 budget also includes recommendations to invest $18 million for capital projects, which
includes funding for housing and environmental sustainability. Other projects include $800,000
in snowmelt repairs on East Meadow Drive; $746,000 for added snow plow trucks, loaders and
blowers; and $677,000 to fund the second phase of the Intermountain Fuels project to reduce
wildfire hazards.
To comment on the budget in advance of the public hearings, email the Town Council at
towncouncil@vailgov.com.
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