VAIL, Colorado - Public hearings will take place on Nov. 6 and Nov. 20 as the Vail Town Council reviews the proposed 2013 municipal budget. The $55.3 million expenditure plan is available on the town's website at www.vailgov.com. First reading of the budget ordinance is listed eighth on Tuesday's meeting agenda, which begins at 4 p.m. in the Vail Town Council Chambers.
As proposed, the 2013 budget maintains current levels of service while providing for a transition to temporary municipal offices to make way for construction of a new municipal building. The budget also supports the strategic focus areas of economic vitality, balanced community, quality of the experience and future leadership identified by the Town Council.
The town's economic development initiatives include a recommended $2.1 million to support special events such as Bravo! Vail Valley Musical Festival, 2015 World Alpine Ski Championships, Burton U.S. Open Snowboarding Championships, Vail Jazz Festival, Street Beat, Vail International Dance Festival, Hot Summer Nights, Spring Back to Vail, Oktoberfest, Teva Mountain Games and the Vail Farmers' Market, among others.
The budget also contains a recommended $18.9 million for capital projects, including the start of construction of the municipal building and relocation to temporary offices, completion of the Main Vail Fire Station renovation, guest service enhancement improvements, public parking on the frontage road near Safeway as required by CDOT, streambank mitigation, and bike lanes on the South Frontage Road from the West Vail roundabout to Matterhorn. The planned remodel of the Clubhouse at the Vail Golf Course and Nordic Center and Ford Park field improvements will continue into 2013, but will be funded from unused funds in 2012.
Estimated revenues for 2013 total $53.8 million, including sales tax projections of $20.1 million which is a 1.5 percent increase from estimated 2012 collections and a 2.6 percent increase from 2011. Sales tax represents an estimated 37 percent of annual revenue for 2013. The remainder of the town's largest revenue sources include Real Estate Transfer Tax, which represents 9 percent of total annual revenues; ski lift tax and franchise fees, also 9 percent; property tax and ownership tax, which represents 8 percent; and parking revenues, 7 percent, respectively.
The town's operations would be supported by 284 full-time equivalent positions in 2013, flat with 2012 and down from 300 at the beginning of 2009. Of these, 212.8 are full-time regular employees. A 4 percent performance merit pool is proposed in the budget.
Reserves for the town are projected at $47.7 million by the end of 2013.
To comment on the budget in advance of the public hearings, call the Town Council at 479-1860, extension 8, or e-mail firstname.lastname@example.org.