KEY BUDGET NUMBERS:
1) Total allocations* = $40,628,278 up $5 million from 2020. The large increase is due to capital improvements budgeted but not spent in 2020 and emergency government funding resulting from the COVID-19 pandemic.
2) Total budgeted revenue + starting reserves = $70,964,075.
2) Total expected ending reserve = $30,335,798 or 75% of total allocations.
3) General operating budget allocations = $16,011,250 up $2.4 million from 2020.
4) General operating fund ending reserve = $7,749,217 or 48% of 2022 budgeted allocations.
5) Property Tax revenue increased 12% in 2020. TABOR restrictions permit a maximum 5.5% increase over the previous year prompting a refund to many property owners in 2022.
6) Sales Tax revenue continues to rise an average of 25 percent annually over the past five years, yet County Administration continue to conservatively project a very modest 3% increase causing reserves to greatly increase.
7) Two new funds have been created for 2022: Booking Fees Fund and Inmate Welfare Fund. Together, both are expected to end 2022 with $33,530 in reserve.
*Allocations are money’s that are planned to be spent. Delta County consistently spends an estimated 60% of revenues holding approximately 40% in reserves at the end of each year. This year, they plan to spend only 25% of anticipated revenue. The remaining 75% in reserve funds are considered to be “rainy day funds” for downturns in the economy and/or local emergencies.
BUDGET STANDOUTS:
1) Staff to receive a 4% raise, the highest in more than a decade.
2) Back the Badge funds are budgeted to end 2022 with $1 million in reserves.
3) The County plans to spend $800,000 of the $6 million it currently has and plans to obtain in 2022T in American Rescue Funds (COVID-19 relief federal funding). For more information on how the feds expect these funds to be used, click here.