Mt. Crested Butte financials down but doing okay this summer

Building revenues having a moment

By Kendra Walker 

With Town Hall closed and limited activity on the mountain, Mt. Crested Butte has been feeling the financial effects of the pandemic but staff remains calm about the town’s current financial situation.

Finance director Karl Trujillo shared during the August 18 Town Council meeting that the town’s general fund revenues are “only down $61,201 through the end of July.” With budget cuts made earlier this year due to COVID-19, total expenditures are under budget and staff continues to keep a close eye on expenses. At the same time, while sales tax revenue is way off from a year ago, building revenues are huge and helping to even out the overall budget. That $61,201 deficit translates to revenues being off just 8.5 percent compared to 2019 and 2.6 percent below the budget.

Town manager Joe Fitzpatrick reported that June sales tax collections were $86,870, which is 34.7 percent below the 2020 budget. Year-to-date sales tax collections are 28 percent below the 2020 budget, about $325,899 below budget. Sales tax revenues are expected to keep dropping over the next few months compared to previous years, said Trujillo.

However, building revenues have been record-breaking and helped even out funds, noted Trujillo. Through August 11, $638,543 has been collected, which is $338,543 above budget. The total 2020 building revenue budget is $310,000.

“Our community development department is carrying the torch in bringing lots of revenue this summer,” Fitzpatrick said last month.

“I’m happy where we are right now financially through July,” said Trujillo. “We just have to be cautious but with our budget cuts and our building revenues helping us we’re in a good spot right now.”

Town Hall remains closed to the public, but appointments can be made and there is a drop box at Town Hall’s west door.