The Foothills Park & Recreation District board has approved the district’s 2013 budget, a $22.7 million spending plan that amounts to a $1.8 million boost over this year.
The district will tap into $500,000 in cash reserves to help finance several capital projects next year. By using the reserves and paying off some debt, capital expenditures will be increased to $980,000 in 2013.
Planned capital projects include a new awning at The Ridge Recreation Center, a play area at Lilley Gulch Recreation Center, and a new playground at the Lakehurst neighborhood park.
Included in the 2013 operating budget is $3,411,742 in debt service and expenses related to voter-approved bonds, an increase of $374,303. The board will look at refinancing several of the bonds next year to take advantage of lower interest rates.
The district also will increase its contribution to employees’ 401k retirement plans, and the district is increasing its overall payroll by $168,129.
Overall projected revenues are increasing. The district will take a slight hit — $41,220 — in property-tax revenue, with a 2013 total of $6.85 million. But operating revenue is projected to be $22.7 million, an increase of $1.7 million.
Admissions to district facilities are projected to total $9.7 million in 2013, an increase of $413,475. Rentals are projected to increase by $126,887, for a total of $2,503,787.
According to the proposed budget, expenses in 2013 will be $15,974,000.
“The district is in fair but worsening financial health going into the 2013 budget year, and there remain financial issues on the horizon … including funding of a meaningful capital repair program for aging facilities and a replacement program for capital equipment,” executive director Ron Hopp had said in recent months.
Contact Ramsey Scott at email@example.com or 303-933-2233, ext. 22.