Decline in revenue tied to coal mines
By Hank Lohmeyer
Published Thursday, October 13, 2016 10:37 am
Cedaredge Town Board members are hearing that declines in revenue tied to the loss of North Fork Valley coal mining jobs and production will have an impact on the 2017 budget.
According to a report to the trustees from town hall staff in September, the average income to the town's general fund from minerals leasing and severance taxes between 2009 and 2014 was $90,944 a year. The amount expected to be received from the two sources in 2016 was 30 percent less at $60,000, but receipts came in half that amount at $31,434.
The report goes on to make a case for the need of more tax revenue in the general fund, though no local tax increase proposal has been made. "General fund operating revenues for sales tax, property tax and mineral leasing and severance tax will go from a historical $583,000 annually to $537,000 by 2017."
In other business at their September meeting, the Cedaredge trustees dealt with the following matters:
• The board approved a liquor license renewal application for Mesa Liquors.
• Trustees tabled action on a memorandum of understanding with Friends of Cedaredge Animal Control.
•Trustees conducted a discussion of the use of off highway vehicles on town streets. Trustees said they want to hear from the public before moving forward on the idea.