HomeMy WebLinkAbout992887.tiff 7050 Loma Linda Ct.
Longmont CO 80504
303 833 2992
December 3, 1999
Weld Board of County Commissioners
P O Box 758
Crreeley CO 80631
Subject: Weld County Budget for year 2000
Dear Commissioners:
In looking through the draft of the Weld County Proposed Budget for 2000 I found that
the property tax revenue is estimated to be $35,871,084. The total property tax revenue is
limited by Article X, section 20[7][c], `TABOR amendment' of the Colorado
Constitution. However, I did not find in the Budget any information as to how the above
amount was calculated as being in conformance with TABOR amendment revenue
increase limitations. It would be in the public interest to provide this information,
particularly in a year that the property taxes that will be paid by them are based on a
reassessment of their property in 1999.
Perhaps the following would provide necessary information as to how the amount of
property tax estimated to be collected will correspond to the amount permitted to be
collected under TABOR:
1999 property tax revenues: $
Inflation allowance % $
Annual local growth allowance % $
Any other adjustments permitted $
[Itemized, identified and source of authority for
making an adjustment under TABOR]
Total property tax revenues for 2000 permitted by TABOR $
Total estimated property tax revenues budgeted for 2000 $
In addition, providing the amounts needed to complete the enclosed Division of Local
Government form `TABOR Fiscal Year Spending Worksheet' would provide information
as to Weld County budget for 2000 conformity to spending limits under TABOR [Art. X
section 20[7][b] of the Constitution].
In no way does this letter imply that County government is not conforming to
constitutional and statutory requirements. The Weld County Finance and Accounting
Dept. is to be congratulated on the performance awards it has received. However,
providing this information would be in the interest of serving the public, for their better
pla filch 992887
understanding the constraints TABOR places on the County finances, as well stated in the
Budget, in this time of rapid growth and the resultant need for expansion of County
services.
Very truly yours,
76/
John S. Folsom
PC: Don Warden, Director, Finance& Administration
tabor3.doc fe-cceed �
TABC R FISCAL YEAR SPENDINI WORKSHEET
The following terms are i sed in TABOR(Art. X, Sec. 20,Coo. C.i st.)and may be different for each
jurisdiction,depending upon local interpretation. For further infant i don on their meaning,local
governments should cool ict their attorney or accountant,state assn .anion,or Division of Local
Government at 303/866.2156.
DATA ELEMENTS NI EDED FOR CALCULATIONS:
a. Inflation _ % (nth number must be forecast,since i .e U.S.Bureau of It Statistics does not give it
out until March of next year. Sue; •r forecasts may be obtained by contacting The
Division of Local Govanmesit.)
0
b. Local wowth /o
them"c"tbrou p"might be found in your local government's budget,financial s G enema or accounting system)
c. Total expatuture i $
d. Total "reserve inc-eases" $
e. Total "reserve eq'enditures" $
£ Total "reserve tat tiers"
gTotal refimds
$
h. Total gifts $
i. Total federal funds
j. Total collections i or another government $
k. Total pension contributions by employees $
1. Total pension fun I earnings $
m. Total damage awards $
n. Total property sales $
o. Lottery proceeds CTF and/or GOCO Funds) $
p. Voter-approved n venue changes $
•
TABOR "Fiscal Yea r Spending" Limit Calculation (' 13TE: Because of the special treatment
that"reserve increases"re izeive in this calculation,many practitiene I view this"fiscal year spending"limit as
an pveall revenue Guinan cc to be used besides the property tax res u ate limitations.)
I. $ _ +$ = $
Line c line d
2. S - $ _ $_-
Line 1 Total of lines e through p iscal year spending base
3. $ x % = $_-
Line 2 Total of lines a+b Sp: ding increase allowed
5. $ _ + $ _ $
Line 2 Line 3 "Fi s al year spending"limit
TABOR Emergenq Reserve Calculation
6. 3% of$_ _ $ -
Line 5 Emergency.reserve
Appendix-Revised'x/98 C-13
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