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CTIO board adopts small inflation adjustment to congestion impact fee; staff to track revenues
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Summary
The CTIO board approved an inflation adjustment that raises the congestion impact fee from $3.00 to $3.13 effective July 1, citing a 4.45% five‑year average inflation figure; staff will report quarterly on actual collections and scenarios tied to rental car assumptions.
The Colorado Transportation Investment Office board on April 15 approved an inflation adjustment to the congestion impact fee, raising the per‑transaction fee from $3.00 to $3.13 effective July 1.
Meredith, the staff presenter on finance, told the board the adjustment follows the statutory method adopted with the underlying bill referenced in the meeting as “senate bill 24 1 84,” which requires using the five‑year average of inflation. Meredith said the Department of Revenue calculations produced a 4.45% average that yields the $0.13 increase and asked the board to adopt the accompanying resolution to update CTIO forms and collections.
Board members pressed staff on the data behind the revenue forecast. Meredith described the assumptions used: historical daily rental counts going back to prior fiscal years, a conservative 1% annual growth assumption used by CDOT, and a current projection of about 17.4 million daily rentals for fiscal 2026 (a roughly 5% decrease from fiscal 2025). Meredith said applying the updated fee increases projected fiscal‑year‑2027 revenue by roughly $900,000 compared with the baseline forecast and that DOR will update administrative forms after adoption.
Directors asked that staff provide regular tracking and scenario runs; Meredith agreed to monthly or quarterly reporting on collections and to return with scenarios that reflect strong/weak tourism seasons and other uncertainties.
Chair Gutierrez called for the motion to adopt the resolution; a motion and second were recorded and the board approved the adjustment unanimously.
The board directed staff to monitor actual collections against the forecast and to brief the board if adjustments to budget assumptions are needed. The board did not specify a differing effective date; staff said July 1 is the implementation date for updated DOR forms.
