Finance

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  • Phone: 970-328-3510
    Fax: 970-328-3519

    Finance
    P.O. Box 850
    500 Broadway
    Eagle, Colorado 81631 

    financeinvoices@eaglecounty.us



Commissioners to review 2011 budget on Oct. 4

Contact: John Lewis, Finance Director, 970-328-3511 or john.lewis@eaglecounty.us

The Eagle County Board of Commissioners will review the proposed 2011 budget on Oct. 4 with an introduction and presentations by elected officials from 8:30 a.m. to 11 a.m. and a presentation on all other budgets beginning at 1 p.m. The meetings will take place in the Eagle County Room, located at 500 Broadway in Eagle. The public is encouraged to attend.

As proposed, General Fund expenditures will be decreased from $37.7 million in 2010 to $31.6 million in 2011, a 16 percent reduction. From 2009 to 2012, the county will realize a 26 percent overall reduction in General Fund expenditures. The county has also seen a 14 percent reduction in full-time employees over the last two years. As part of this year’s budgeting process, 17 employees took an early retirement package offered by the county, with only two of the vacated positions anticipated to be refilled. “I am very pleased with the work done by both elected offices and all departments to balance our General Fund budget for 2011 and beyond,” said County Manager Keith Montag. “The process has certainly not been easy and I applaud the entire organization for making tough decisions that balance the need to be fiscally responsible while continuing to provide essential services to our community.”

Also, while the proposed 2011 budget for the Road & Bridge fund is balanced, reduced property tax collections will pose a challenge for the special revenue budget in 2012 and later years. “We still have work to do on future year budgets for our funds that are dependent on property tax revenues,” said Montag.

Projections developed by Eagle County’s Finance Department indicate the county will face a $5 million reduction in General Fund revenues in 2012 as compared to 2010. The approximate 15 percent decrease would essentially bring county revenues back to 2005 levels. Overall, the county is projecting a $9 million reduction in revenues in total for all funds from 2010 to 2012. The projections include an anticipated 30 percent drop in property tax collections beginning in 2012, combined with relatively flat sales tax collections. At the request of the commissioners, the assumptions have been vetted by a financial advisory board comprised of local citizens with expertise in the local economy.

According to Eagle County Finance Director John Lewis, revenue projections used to develop the 2011 budget do not include potential impacts of three statewide ballot initiatives that would reduce certain taxes and fees and limit local government debt. Amendments 60 and 61 and Proposition 101 will be posed to voters this November.

Monday’s presentations will begin at 8:30 a.m. with a brief introduction by Montag, outlining the budget process. From 9 to 11 a.m., elected officials will present their respective budgets in the following order: Clerk & Recorder, Treasurer, Assessor, Coroner, Surveyor and Sheriff. The budget review will then continue at 1 p.m. when Montag will give an overview of the General Fund and several special revenue and enterprise funds, including Airport, ECO Transit, Landfill and Road & Bridge.