News Flash


Posted on: November 27, 2019

Town Council Adopts 2020 Budget

At the regular meeting on November 4, 2019, the Town Council unanimously adopted the 2020 Town budget. The annual budget serves as the foundation for financial and operational plans for the upcoming year. In 2020, this includes roughly $35 million in expenditures, of which over $5 million is budgeted for capital projects and repairs.

Despite the Town experiencing a sales tax revenues beyond projections in 2019, the 2020 budget incorporates a conservative outlook into future revenues. It also increases the Town's reserve funds by 5%. Other significant changes and projects in the 2020 budget include the following:

  • An increase in the community grant program for local non-profits to $125,000
  • A $1.5 million dollar contribution to the housing fund for the construction of the Coffey Place Deed Restricted homes. 
  • The hiring of additional staff persons, including; a Solid Waste Worker I, Recreation Assistant, Housing Maintenance Mechanic I, and a Marketing Events Coordinator. 
  • Absorbing online credit card processing fees for customers, estimated at an annual expense of $50,000.
  • Planning and engineering of the Mall Transit Station - $600,000
  • Planning funds for Town Park in the amount of $100,000
  • Continuing the Town's participation and commitment to 100% renewable electricity, $15,000
  • A 1% increase to the Town's retirement plan contribution for staff

Overall, the Town of Snowmass Village continues to remain in a very strong financial position. You can view the complete 2020 TOSV Budget Document by following the link below.

Meanwhile, the finance department received the Distinguished Budget Presentation Award by the Government Finance Officers Association. The honor recognizes the Town's efforts to properly organize and manage the annual budget, based on stringent standards.  

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