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Basalt's 2017 General Fund is $230K short

May 7, 2018

Credit basaltchamber.org

The town of Basalt’s general fund, in 2017, ended around $230,000 below revenues.


Despite collecting more sales tax in 2017 than the previous year, Basalt’s general fund ended the year with only 80 percent of the revenue budgeted.  

One reason was the $125,000 lawsuit settlement with former town manager Mike Scanlon. The town also spent $30,000 in legal expenses relating to that lawsuit, and another $30,000 of unbudgeted funds to recruit a new town manager.

The town is using its reserves to cover the shortfall.

Current town manager Ryan Mahoney said so far this year, sales tax revenues are 6 percent higher than they were last year.