Routt County debt on Justice Center earns A rating
Financial health receives praise from Standard & Poor’s for reserves
March 18, 2011
County tax receipts up
Routt County Finance Director Dan Strnad released unexpected good news about the county’s single cent of sales tax Wednesday when he reported that sales tax collections were up 11.28 percent for January, compared with January 2010.
Receipts went up $45,181, to $445,671. The growth in sales tax created a bit of breathing room in the county’s 2011 budget — Strnad budgeted late last year for a decrease in sales taxes that predicted sales tax collections of just $385,808 in the first month of the year. Tax receipts were up 15.52 percent from the budgeted amount.
Sales tax produces about 9 percent of the county budget, with property taxes accounting for the greatest share — about 37 percent.
Strnad prepared the 2011 budget in late 2010 expecting sales tax collections to be off $400,000 in 2011. He based that forecast on a 9 percent decrease in enplanements at Yampa Valley Regional Airport and a continuing slowdown in the construction industry that is expected to result in a hit on building-use taxes.
Declining auto sales also were expected to reduce the county’s 1 percent auto-use tax.
Steamboat Ski and Resort Corp. officials have confirmed that the numbers of arriving passengers at the airport early this winter exceeded expectations given the number of seat reductions.
Steamboat Springs — Editor’s note: This story has been corrected to state that Routt County has a general fund unreserved fund balance of $6.5 million.