Healthy town budget to fund future projects | SierraSun.com

Healthy town budget to fund future projects

Staff reports

Truckee’s fiscal strength and appetite for new projects are both reflected in the $39 million 2005-06 budget approved May 19 by the town council.

Out of the total $39 million budget, $16 million is going to general fund expenditures, and the rest is for funding capital improvement projects, transit, redevelopment and other budget items.

Sales taxes, transient occupancy taxes and property taxes are all projected to increase this year, helping to fund expensive projects like the dual roundabouts at Highway 89 and Interstate 80, a future roundabout on Brockway Road and the relocation of the town’s corporation yard.

Building material sales are the biggest contributors to the town’s sales tax and the transient occupancy tax will be boosted by the opening of the Hampton Inn this year, the budget noted.

“The budget is balanced and the town remains financially strong,” wrote outgoing Town Manager Steve Wright in the budget introduction. “This budget does, however, reflect the reality that the community’s demand or desire for services cannot be matched by the projected revenue stream in the near term.”