Avon council holds public hearing on budget
AVON, Colorado – Avon residents get their “official” chance to comment on the town’s 2012 budget tonight.
While the town’s general fund spending is down slightly from last year – the 2012 budget is just more than $12 million – Carroll said the town has made some changes for 2012 in its capital projects spending and projections about real estate transfer tax collections.
In Avon, those taxes, imposed any time a piece of property changes hands in town, may be used only in the town’s capital improvements fund, except in case of emergency. Those taxes make up about one-third of the capital improvements budget, but the money paid into the fund has declined as sales and property values have dropped.
Still, Carroll said, the town uses the transfer tax money to have a fund of at least $1.5 million in case of emergencies – such as the need to replace the liner in Nottingham Lake. That job will probably be done in 2013, Carroll said.
The big boost in the town’s 2012 budget comes from the start of work on a new regional transportation facility. That facility, at the site of the existing town shops on Swift Gulch Road, puts a roughly $3 million increase into the town’s capital budget for next year, but most of the cost of that facility comes from state and federal grants.
While Tuesday’s hearing is required by town charter, Carroll said residents are welcome to talk about town spending or other topics at any meeting. And, he added, the town’s spending for 2012 isn’t set in stone, even after the budget is approved.
“We’ll modify things through the year as we need to,” Carroll said.
Business Editor Scott N. Miller can be reached at 970-748-2930 or email@example.com.