Unexpectedly low tax revenues have prompted a projected $4 million shortfall in Boulder’s 2018 budget, and the city is facing cutbacks as a result, City Manager Jane Brautigam has informed her staff.
In an email sent last week, Brautigam wrote, “I want to update you about a challenge we face to an important source of city funding and what we are doing to address it.”
She informed city staff, “Over the past year, we have seen a trend of flattening revenues from retail sales tax. These revenues represent a significant source of funds for the city’s General Fund, which supports many of the core services we provide to the community and the organization.
“This flattening of overall sales and use taxes indicates a projected 2018 General Fund shortfall of $4 million in ongoing revenues versus ongoing expenses, which means that if we do not act now to reduce expenses, there will be a budget deficit.”
Brautigam told her staff that she has asked the directors of city departments to “identify ways to reduce expenses this year and to continue to evaluate longer-term opportunities for similar reductions.”
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