Vail approves $53.9 million budget
Vail, CO Colorado
VAIL, Colorado – The Vail Town Council approved a $53.9 million budget for 2012 Tuesday.
The budget calls for 65 percent to be spent on municipal services, 31 percent on capital improvements and 4 percent on repaying debt, a breakdown that some council members don’t agree with because the town charter calls for a 50-50 expenditure split for services versus capital projects. Councilmen Andy Daly and Kevin Foley urged members to consider examining that split in the near future.
The town’s 2012 projected revenue is $51.1 million, $2.8 million less than proposed expenditures. That $2.8 million is expected to come out of reserve funds, if necessary.