Gypsum budgets for another flat economy
Eagle Valley Enterprise
Vail, CO Colorado
GYPSUM, Colorado – The budget approved by Gypsum Town Council members at their meeting last week encompasses about $12.5 million in total expenditures.
“It’s been about $2 million lower than 2008 for a few years,” said Jeff Shroll, Gypsum’s town manager.
The town’s total spending for 2011 is about $14 million, but that number is skewed by the 2010 purchase of Cotton Ranch Golf Course and the LEDE Reservoir project.
“Those items went on the books in 2010, but we’re still paying down the debt,” Shroll said. “We spent about $2 million on the water fund in 2010. This year, it was about $900. We’ll probably have another big expense for the LEDE project in 2013, when we dig the hole.”
Another lingering project from this year that will free up some of the town’s budget when the work is finished next year is the U.S. Highway 6/Valley Road slip lane. Paving work was recently called off when the weather got too cold.
“Once that is finished, it will allow us to get more aggressive on routine maintenance, as well as chip and seal the dirt road to the Gypsum Shooting Sports Park,” Shroll said. “We are also holding onto some matching funds for grants that we’ve applied for. If we don’t get the grants, then those funds will be moved over.”
Gypsum carried a reserve fund of about 30 percent, or $2.5 million, in 2011.
“That will be spent down a little bit, and we’ll carry a reserve fund of about 18 (percent) or 20 percent, a bit shy of $2 million, for 2012,” Shroll said. “We’re normally a 15 percent reserve fund.”
For the former Cotton Ranch Golf Course, now known as Gypsum Creek, the town budgeted about a half-million dollars for operations and improvements. About $100,000 will be spent on improvements next year.
“We’ve had to put quite a bit of money into it,” Shroll said.
On the income side, the town is seeing about a $40,000 drop in property tax revenues.
“But sales tax is up about the same amount, so that’s a wash,” Shroll said.