The town’s budget is broken down into six separate funds: general, capital improvement, impact fee, lodgers’ tax, geothermal enterprise and conservation trust.
The general fund
The general fund is expected to have $3,995,472 worth of revenues next year and $2,521,883 worth of expenditures.
Breaking this down further, the majority of revenues for this fund will come from taxes and contracts, including property tax ($75,846), special ownership/MVL ($13,500), cigarette tax ($16,000), gas franchise ($14,000), telephone franchise ($9,000), cable TV franchise ($7,000), ground lease ($79,825) and severance tax ($5,000).
However, the largest source of revenue by far is from sales tax, which is expected to generate $1,895,621 for the general fund.
Other sources of revenue for the general fund include licenses and permits ($94,000), intergovernmental revenue ($60,130), charges for services ($70,900), fines and forfeits ($41,500), miscellaneous ($9,000) and the Ross Aragon Community Center ($130,235).
All together, the projected income for 2015 is expected to be $2,521,557. When this amount is added to the $1,473,915 remaining as cash reserves from this year, the total revenue for 2015 is expected to be $3,995,472, as mentioned above.
On the other side of the equation, expenditures from the general fund include public safety ($803,622), recreation ($179,567), community support services ($116,763) and general government ($1,421,931).
