|We are aware of the State’s financial challenges as well as the other cities in Nevada. Boulder City’s financial position is also affected by the current economic conditions we are facing as a State and as a Nation. Around forty percent of our budget comes from the consolidated taxes which are derived from the sales tax. When the economy drops, so does this revenue source. Other revenues for the City have also dropped. Fortunately for Boulder City, lease revenues have given us some financial stability.
We need to address our budget shortfall from many angles. First, we need to trim our budget. The City recently trimmed around $1.2 million from this year’s budget. We will need to look at what can be trimmed from next year’s budget as well. We are beginning our budget meetings in February.
We also need to look at increasing our revenue. Our energy zone is being expanded and this will bring much needed revenue to our general fund. I believe Boulder City will soon be nationally known for solar energy projects.
We will also be looking at our water and electric rates. Unfortunately, as expenses increase, our rates will be increasing so that we are covering our costs. We will be negotiating the financing of the 3rd intake with the SNWA.
We need to reduce our debt, which right now consists of the loan for the 2nd water line and the Boulder Creek Golf Course. This year we will be adding the financing of the 3rd straw. Reducing our debt by selling land was recommended by the finance committee.
The finance committee also recommended against closing Boulder Creek. Closing the golf course does not remove the debt obligation, and those that promote closing Boulder Creek are suggesting that we develop that land instead. As a resident I do not want to replace the golf course with development. I want to continue to maintain our lifestyle.
Visit Roger at http://www.bcnv.org/CityCouncil/Tobler.asp.