Vail 2022 municipal budget proposal available for public review

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The City of Vail recently released the following statement on the 2022 municipal budget proposal:

Public comment opportunities will take place on Tuesday, October 5 and again on Tuesday, October 19 as Vail City Council considers formal passage of the 2022 city budget. The $ 85 million spending plan is available on the website from the City to www.vailgov.com. The first reading of the budget ordinance is included in action point 6.3 on October 5. program of the meeting which begins at 6 p.m. in the Vail City Council Chamber. The final adoption will take place on October 19.

Public comment opportunities are available prior to meetings by emailing [email protected] or will be available in person at meetings or virtually by signing up to www.vailgov.com/town-council.

The priorities that guided the 2022 budget proposal relate directly to common themes found in the council’s action plan and the results of the community survey. The main themes are to ensure that citizens have the opportunity to live and thrive in the community, to deliver a world-class customer experience, to balance the economic, environmental and social needs of Vail to create a sustainable community, as well as developing a vibrant and diverse economy. The budget also includes initiatives and programs to improve employee retention and recruitment to align with a philosophy of superior compensation for superior service.

The main programs and initiatives proposed for funding in 2022 are as follows:

Community: With the acquisition of resident-occupied housing subject to title restrictions being a high priority of the community goals of the council’s action plan, the proposed budget for 2022 includes $ 2.5 million to continue the development. success of the Vail InDEED program. Another major housing program underway is the construction of the Residences in Main Vail, which will provide 72 rental units for employees, which will be funded by the city through certificates of participation of $ 25 million with payments from the Department of the debt as of 2022. Other budgeted priorities in the Community category include a contribution of $ 500,000 to the Vail Religious Foundation to help with renovations to the Vail Chapel; $ 250,000 to replace current support for Vail daycares with a new program funded with a portion of tobacco tax proceeds; $ 850,000 to rebuild the Ford Park art shack building into a new community art space; and $ 32,000 for cultural heritage efforts.

To live: A combination of programming, technology and infrastructure improvements are offered to enhance the guest and citizen experience. The budget includes $ 150,000 for Ford Fleet upgrades and master plan updates to include future redevelopment of the Nature Center; $ 1.2 million to install pavers along Betty Ford Road and the creek to the covered bridge; and $ 1 million to rebuild sports field toilets. Other proposed projects include: cost sharing of the Gore Valley Trail realignment, $ 2.3 million; construction of a new oversized vehicle parking lot to replace the charter bus fleet, $ 2 million; installation of a new parking system in structures, including the modernization of daily parking sales and parking passes, $ 1.2 million budgeted in 2020; Village vacation lighting design, $ 185,000; and PrimaVail guest services programming, $ 65,000.

Economy: Special events funding of $ 2.8 million is proposed for 2022, which includes a mix of ambient and musical entertainment, signature events and new events. The special events budget includes $ 220,000 for early winter activation to include Revely Vail, Vail Holidays and Magic of Lights sponsorships. Another identified economic priority is to determine the next steps in the previously adopted municipal neighborhood plan, budgeted at $ 200,000. Sponsorship of the 2022 Mountain Travel Symposium to be held in Vail next April is recommended to the tune of $ 158,000 as well as $ 80,000 to resume Global Exchange programming and resort tours.

Durability: One of the Council’s priorities under the sustainability goal is the creation and adoption of a Destination Stewardship Plan which has been budgeted at $ 100,000 and will be increased by $ 150,000 in programs stewardship education in reception centers. The Vail Local Marketing District has also budgeted an additional $ 100,000 for this plan. The expansion of the city’s forest health initiatives is also included in the budget with a request to add 2.25 full-time equivalent employees to the forest fire team, $ 196,000, plus a bush truck, budgeted at $ 52,000. To address the challenges associated with employee retention and recruitment, staff budgeted $ 50,000 for a compensation and benefits study, plus a placeholder of $ 750,000 for Phase 1 compensation adjustments equivalent. at $ 2,170 per employee per year. In addition, $ 287,500 is recommended for a take-out police vehicle program. To advance the city’s environmental sustainability initiatives, a regional e-bike program was offered with $ 175,000 to cover Vail’s share.

The recommended operating budget for municipal services 2022 is $ 57.7 million, a 10% increase over the amended 2021 budget. As a service organization, the majority of General Fund expenditures are for staff. For 2022, that’s $ 37.3 million, or 65% of total spending, which includes both salaries and benefits.

The staffing level proposed by the city includes 345.59 full-time equivalent positions. This is an increase of 9.10 FTEs from the previous year, which includes 6.95 new FTE requests and 2.86 additional FTEs resulting from a pay equity study. New positions include wildland firefighters, housing planner, part-time library associate, maintenance workers and adjustments in bus and parking divisions. Over the past decade, staffing levels have increased by an average of 6.18 FTEs per year.

The proposed budget for 2022 is funded by a projected net income budget of $ 75.9 million, which is considered conservative. Excluding transfers from the Vail Reinvestment Authority, COVID-related grant funding proceeds, and other major one-time project refunds and grants, this is a 3% decrease from 2019 and an increase of 2.5% from the 2021 forecast. The majority of the decrease from 2019 is related to investment income due to current rates.

Sales tax collections, the city’s largest source of revenue, are estimated at $ 30.7 million in 2022, a 3% increase from 2019 and stable from 2021 projections. two percent of estimated sales tax collections in 2022 are budgeted for General Fund operations and the remaining 38% for the Capital Projects Fund.

Property tax collections are estimated at $ 6 million based on county assessments, which is a 2% increase over the 2021 budget. Raising tax collections of $ 5.5 million are expected increase 2% from 2019 and 3% from 2021 forecast. Parking revenue of $ 6.6 million is down 2% from 2019 and up 4.6% from forecast for 2021. Real estate transfer tax revenues are projected at $ 7.5 million, based on a five-year average, with 2020 being a record year. Construction use tax revenue is projected at $ 2.8 million, up 13.5% from 2019 and down 13.8% from the 2021 forecast.

General Fund reserves are expected to reach $ 40.9 million by the end of 2022, or 90% of annual revenues. This is well above the 35% minimum demanded by city council as fiscal policy. Reserves for all funds are expected to rise to $ 86.8 million by the end of 2022.

Funding for service contributions totaling $ 933,000 is proposed following a review of applications from local non-profit organizations including Vail Chapel, Colorado Snow Sports Museum, Betty Ford Alpine Gardens, Eagle Air Alliance, Eagle Valley Childcare, Children’s Garden of Learning, High Five Access Media, Eagle River Watershed Council, and Vail Valley Mountain Trails Alliance.

Budget 2022 also includes recommendations to invest $ 24.9 million for public improvements that will be funded by the Capital Projects Fund and the Land Transfer Tax Fund. This includes the replacement of a fire truck, $ 1.7 million; installation of artificial turf at Ford Park, $ 1.5 million; and solar panels at the Ford Park Amphitheater, $ 100,000, among other projects. The biggest unfunded projects over the next five years include: Civic Zone Improvements, West Vail Master Plan Results, and Timber Ridge Redevelopment.

The city has received $ 1.8 million in coronavirus response and relief funds for transit operations and $ 1.2 million in US bailout federal funds that will be used to offset the direct impacts of COVID-19. Plans for the use of US bailout funds have not yet been finalized.

Debt service payments of $ 2.4 million are budgeted to finance two projects in 2022. In early 2021, city council authorized funding for the Public Works Workshops project through a lease agreement. -purchase. This project was financed by a loan of 15.2 million dollars over a period of 15 years at an interest rate of 1.76% annually. Budget 2022 includes $ 1.16 million in debt service payments for this project, including $ 950,000 in principal and $ 250,700 in interest. Most recently, City Council authorized public funding for the Residences at Main Vail housing development through 30-year $ 25 million Certificates of Participation. Staff included a placeholder of $ 1.2 million for principal and interest payments in 2022 based on estimated interest rates. The Capital Projects Fund will loan the residences to Main Vail for these payments.

The bonding capacity of the Vail Reinvestment Authority is estimated at $ 31.5 million in project dollars with a maturity of nine years. The authorization will expire on June 30, 2030.

A recommended spending plan of $ 4.2 million for 2022 marketing activities funded by the Vail Local Marketing District and its 1.4% lodging tax is budgeted separately from city spending.

For more details, please refer to memo. Click here for more information


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