Castle Rock’s proposed budget for next year prioritizes funding public safety, the Crystal Valley Interchange project and investments into the town’s water resources.
This item is available in full to subscribers.
If you're a print subscriber, but do not yet have an online account, click here to create one.
Click here to see your options for becoming a subscriber.
If you made a voluntary contribution in 2021-2022, but do not yet have an online account, click here to create one at no additional charge. VIP Digital Access includes access to all websites and online content.
Town Manager David Corliss presented the proposed budget to the council on Sept. 6, but the council has not taken any action on the budget yet. Heading into 2023, Corliss said sales tax revenues are projected to be up by 6% and growth remains steady based on building permit numbers.
The overall budget is $315.3 million with an estimated annual revenue next year of $273 million. Corliss said the town will be using $42.4 million from reserves to balance the budget.
“Our community continues to grow, the region continues to grow, we continue to see that our strategies with regards to retail sales tax attraction have been helpful,” he said. “Quite frankly, we’ll probably get a bump with inflation on the sales tax.”
In order to increase police and fire budgets by $3 million in 2023, the town is planning to increase the amount of revenue dedicated to the general fund to 74.75% of the total, while 20% is allocated to the transportation fund and 5.25% to the community center fund.
Breaking down the $315 million, the majority, $175 million, will go to operating expenses, including $18.5 million for road maintenance, and then $115 million for capital improvements and $25 million for debt, loans and transfers.
Castle Rock anticipates adding four new fire department staff and six new police department staff next year per the proposed budget. It also dedicates $350,000 for police camera equipment, $230,000 to offer a police training program and incentives for the graveyard shifts, as well as $134,200 to increase fire department stipends.
“Department costs continue to grow,” Corliss said. “I think this is a good commitment toward this priority because I think it’s among our top priorities.”
Another of the town’s large expenditures planned for next year is the start of construction on the Crystal Valley Interchange, which will update the connections of Crystal Valley Parkway and Interstate-25.
Corliss said there’s not currently a budgeted amount for the project work next year because its being done in partnership with Douglas County and the developers of Dawson Trails, who are contributing to the cost. The project is estimated to cost $118 million in total.
“We’re going to wait until we know we know a lot more about that cost,” Corliss said of the town’s contribution.
For water investments in 2023, the town is hoping to bid construction for a new reservoir near Sedalia, as well as planning to add five new water treatment plant staff and continuing updating water and sewer line infrastructure.
Corliss added that the budget includes money for improving Mitchell Gulch Park, constructing a new park north of Plum Creek Parkway and investments for the Metzler Open Space.
Most town employees will see an average of 4% salary increase based on performance, and public safety personnel are budgeted to see an average 7.5% raise next year.
Additionally, Castle Rock voters approved a tax measure in 2021 to allow the town to keep surplus tax revenue that would normally be remitted back to taxpayers under the Taxpayer's Bill of Rights. The money must be spent on public safety, roads and fire mitigation.
Next year, the town estimated a TABOR surplus of $14.6 million. Of that money, $6 million is for a new fire station, $5.6 million is for road construction, $2 million will go to updates at the police headquarters and $1 million will go to fire mitigation.
Town council is expected to vote on the first reading of the budget at the Sept. 20 meeting with the final approval in October.
Other items that may interest you
We have noticed you are using an ad blocking plugin in your browser.
The revenue we receive from our advertisers helps make this site possible. We request you whitelist our site.