HomeMy WebLinkAbout20160802.tiff OFFICE OF BOARD OF COMMISSIONERS
18 61
PHONE: 970-336-7204
FAX: 970-336-7233
1150 O STREET
P.O. BOX 758
G p U N ¶ Y GREELEY, COLORADO 80632
February 23, 2016
Stephen Town
2737 Ironwood Circle
Erie, Colorado 80516
stephentownCalcomcast.net
Dear Mr.Town:
Thank you for your email regarding Bright Futures.The Board of County Commissioners is faced with many competing
interests for the county resources we have to operate county programs,while also serving as good stewards of county
funds for all the taxpayers of Weld County. We take our job of being the stewards of the taxpayers' money very
seriously, as is evident by the fact Weld County has no debt, no sales tax, and one of the lowest county mill levies in
the state. Weld County has reduced the mill levy from 22.038 to 15.800 mills or 6.238 mills with a temporary tax
credit the last nine years.
With the energy boom, Weld County taxpayers have benefited from a lower county mill levy, which results in lower
property tax payments. The oil and gas industry is paying two-thirds of the Weld County government's taxes. The
Weld County Commissioners have taken great care not to increase core county programs costs with the added
revenue from oil and gas.While core county programs have not grown,the Board of Weld County Commissioners has
taken the opportunity of the added oil and gas tax revenues to invest in the future of Weld County.The strategy of
investing in the future of Weld County has allowed the county to upgrade our emergency dispatch communication
infrastructure, invest in state of the art technology,accumulate a$30 million reserve to accommodate fluctuating oil
and gas prices, reserve over$30 million for a future jail expansion,and make significant investments in the road and
bridge infrastructure, while at the same time recovering from the 2013 flood damage to our roads and bridges. For
example, between the years 2014-2018,Weld County will invest over$150 million in the Weld Parkway(WCR 47/49
Corridor) from I-76 to WCR 392. All of this has been done for the benefit of the current and future Weld County
residents on a pay as you go basis with no debt.
Just as the Board of Weld Commissioners has invested in capital items, infrastructure, financial reserves, and
technology, we feel it is of utmost importance to invest in the future of our students and workforce for the future
economic development of Weld County and quality of life for our citizens.The Board sees the Bright Futures program
as an opportunity to support both residents and businesses. Through this program, students will further their
education, businesses and residents donating to the program will receive a property tax credit toward their taxes,and
our overall county workforce will be better trained and skilled.The program investment of$15 million to pay property
tax credits to donors will leverage $30 million in financial aid to Weld County students who will be the Weld County
workforce of the future.
Regarding the County Brochure for 2016,where it lists$326.5 million in expenditures and$420.5 million in revenues,
the revenue amount of$420.5 million includes $105,550,000 in fund balance or carry over funds.The fund balance
includes $47 million for the construction of WCR 49 over the next two years, $30 million reserve to accommodate
fluctuating oil and gas prices, and reserve funds for the construction of the jail expansion in 2018-2019 mentioned
earlier.
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STEPHEN TOWN FEBRUARY 23, 2016 PAGE 2
With over two-thirds of the county's assessed valuation attributed to oil and gas production, the county has also
planned for, in the 2016 budget,a significant drop in the assessed valuation for the 2017 and 2018 budget years due
to oil prices dropping from nearly $100 a barrel to $30 a barrel. The drop in oil prices will mean the property tax
amount for Weld County with the same mill levy will be reduced by over$30 million in 2017. By planning ahead,the
reserves of 29%you mentioned, and other one-time expenses in 2016,will help accommodate this drop in property
tax revenues without having to reduce county services in 2017.
The Bright Futures program is enabled by legislation passed in 2015(SB 15-82). Part of the requirement of SB 15-82
is that the County Commissioners must include as part of its annual budget process a public budget hearing where the
public has an opportunity to comment on the funding of the tax credit amount for the Bright Futures program.The
Board would welcome your input and the input of other taxpayers for or against this program to attend and share
their views.The 2017 budget hearing will be at 9:00 a.m.on December 14,2016,at 1150 O Street,Greeley,Colorado.
Once again we appreciate your input regarding Bright Futures, and hope our above explanation gives you a better
understanding of why the Board of Weld County Commissioners is supporting and funding the program.
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
Mike Freeman, Chair •
- /
Sean Conway,,Pro T Julie A.Cozad
arbara Kirkmeye Steve Moreno
cc: Don Warden
Jennifer Fuller
From: Sarah Mundt
Sent: Sunday, February 21, 2016 10:36 AM
To: mklein; Jordan Jemiola; Don Mueller; grahamb@greeleynet.com; Brett Abernathy
Cc: Jennifer Fuller
Subject: Fwd: Bright Futures
Jen,
Would you like to forward this to the Board as well?
Thank you,
Sarah
Sent from my iPhone
Begin forwarded message:
Resent-From: <countycouncil!,co.weld.co.us>
From: Steve Town <stephentown@comcast.net>
Date: February 21, 2016 at 10:02:46 AM MST
To: countycouncil@co.weld.co.us
Subject: Bright Futures
Dear Councilmen and Councilwomem,
I recently received my property tax statement and coupon. Included was the solicitation for the
Bright Futures program.
While the program is very sympathetic, I don't understand the economic reasoning behind it. If
I'm reading the County Brochure for 2016 correctly, we will have $326.5M in expenditures and
$420.5M in revenue. I applaud the fiscal responsibility of running a 29% surplus, however, if the
county can afford to give me a 50% credit on a donation to a county program, why can't it fund
the Bright Futures program out of the general fund and offer an across the board property tax
reduction?
Could I get some context to this program and why it is funded by donations offset by tax credits?
I would welcome an email or phone call.
Thanks,
Stephen Town
2737 Ironwood Circle
Erie, CO 80516
M: 720-771-7225
Hello