Laserfiche WebLink
r <br /> New Directions <br /> With revenue constraints,new initiatives,in addition to those mandated by other levels of government or already funded with <br /> grants,will be limited. The Town is committed to an enhanced level of code enforcement and attempting to develop new <br /> r recreational opportunities in conjunction with the opening of the new gymnasium. However,parks and recreation often require tax <br /> subsidies and the Town's many parks and community facilities will require increases in spending for operations and maintenance. <br /> The swimming pool itself requires an$80,000 subsidy and the utility costs alone for the new 7,000 sq.ft.gym are estimated in <br /> excess of$15,000. <br /> The Town has had success in economic development as witnessed by the increase in town sales tax revenue and several new <br /> businesses in town. Work will continue in this area with Town sponsorship of the Sunday Farmer's Market and the Second <br /> Annual Palisades Bluegrass and Roots Music Festival. The Lodging Occupation Tax administered by the Tourism Advisory <br /> Board is estimated to generate over$37,000 in 2010 to be applied to tourism marketing. <br /> ' The Town is in desperate need of a new fire station and has begun planning and negotiations in conjunction with the palisade Rural <br /> Fire Protection District that the Town Department serves. Our architectural firm has completed site and preliminary floor plans <br /> and schematic plans will be done in 2010. Grant funds have been requested of the United States Department of Homeland <br /> Security Fire Station Construction Grant Program but no funding has been received. If obtained, the grant must be matched by <br /> ' local dollars from the Town and rural district. The rural district,however, lost 40% of its assessed valuation in 2010,thus further <br /> limiting the Town's ability to move forward with construction of this project. <br /> ' Conclusion <br /> County sales tax revenue is down significantly. This is off set by increases in town sales tax,property tax,fees,and grants. The <br /> Water Fund is in good shape with few major initiatives planned for 2010. New wastewater treatment facilities are mandated by the <br /> federal government and the Town anticipates progress on this project in 2010. <br /> The Town will operate at historic staffing levels and complete already funded capital projects,delaying unnecessary capital <br /> projects,and seeking outside funding to take advantage of favorable construction costs during the recession. <br /> ' The economy will be monitored carefully and the Town will stand ready to respond appropriately to deteriorating revenue <br /> scenarios or outside funding opportunities. <br /> REQUESTS FOR INFORMATION <br /> ' This financial report is designed to provide a general overview of Town of Palisade's finances for all those with an interest in the <br /> government's finances. Questions concerning any of the information provided in this report or requests for additional information <br /> should be addressed to Town of Palisade Trustee's,P.O.Box 128,Palisade,CO 81526. <br /> 1 <br /> I <br /> 1 <br /> 10 <br />