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County finance officer reports narrowing revenue shortfall; expenses also below budget
Summary
Grand County Finance Officer Steve Bels told commissioners July revenues improved relative to prior months; revenue variance shrank to -4% and expenses to -8%, producing a positive trend but continued caution.
Grand County Finance Officer Steve Bels presented the county’s monthly financial update, reporting a reduced revenue shortfall and lower-than-budget expenditures. Bels said the county had previously been 6% under budget but had improved to roughly 4% below the adjusted revenue target after the county adjusted its 2025 budget to reflect a 6% revenue shortfall earlier in the year.
Bels reviewed sector details. Transient room tax (TRT) receipts for the May month reported in July were up and described as the second‑highest monthly TRT in the last three years and the fourth highest since 2017. Restaurant tax was up 10% for the reporting month — described as a standout performer. Vehicle‑rental tax and some sales taxes remained behind prior year levels, he said. Overall cumulative variance for revenue had improved from -24% in January to about -4% by July; expenditure variance was -8%, meaning the county had spent about 8% less than budgeted year to date.
Bels cautioned that forecasts depend on coming months and on tourism patterns; he said the county had lowered its revenue target for 2025 to roughly $15,000,009.39 in the most recent forecast. County fund balances were reviewed; an airport capital fund timing issue created a negative balance that exaggerated year‑over‑year fund changes, but Bels said that the county remained cautious and will continue to monitor revenue and expenditure trends through the fall budget season.
Commissioners asked about specific tax lines, including car rental declines and a potential one‑time boost from a movie production; Bels said those effects should show up in receipts in subsequent months. Commissioners reacted positively to the improved trend but urged continued fiscal caution.
Ending: Bels recommended continuing conservative budgeting and monitoring into the fall; commissioners asked staff to continue monthly reporting and to prepare for budget season.
