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Taos Ski Valley TIDD board approves FY2025 budget, quarterly financial report and a $2,257.49 payment
Summary
The TIDD Board approved Resolution No. 2024-56 (FY2024 Q4 DFA financial report) and Resolution No. 2024-57 (FY2025 final budget), and authorized a $2,257.49 payment to the Village for clerk and administrative services; board members noted a $4.5 million developer payout in the budget that "may end up being larger."
On July 15, 2024, the Board of Directors of the Village of Taos Ski Valley Tax Increment Development District approved its FY2025 final budget, acknowledged the fourth-quarter FY2024 DFA financial report, and authorized a $2,257.49 payment to the Village of Taos Ski Valley for clerical and administrative services and travel.
Board Chair Wittman called the meeting to order and TIDD Clerk Ann Wooldridge confirmed a quorum. Board Member Leach moved to approve the meeting agenda; Board Member Frimm seconded and the motion passed 4-0. The board then approved the April 15, 2024 meeting minutes by a 4-0 vote.
The board considered and approved Resolution No. 2024-56, acknowledging and approving the fourth-quarter FY2024 DFA financial report as of June 30, 2024. The minutes note that "some numbers were clarified for the final DFA submission." The recorded motion names Board Member Rockey as the mover and Board Member Frimm as the seconder; the motion passed 4-0.
During consideration of the FY2025 final budget, Misty Schuck (staff member) explained how the ending balance in FY2025 becomes the beginning balance for the next fiscal year and identified a developer payout included in the budget. "The budget includes a $4.5 developer payout, which may end up being larger," Schuck said, and the board approved Resolution No. 2024-57 adopting the final FY2025 TIDD budget (motion recorded as moved by Board Member Rockey, seconded by Board Member Frimm) by a 4-0 vote. The minutes state a budget adjustment can be made later if the payout amount changes.
The board also approved a payment to the Village of Taos Ski Valley to compensate for TIDD clerk and administrative services for January–June 2024 and for TIDD board member travel to elected-officials training in the amount of $2,257.49. That motion is recorded as moved by Board Member Rockey and seconded by Board Member Frimm and passed 4-0.
The meeting minutes record that Board Member Rockey was absent in the roll call yet is listed as mover on several motions in the minutes; the minutes do not explain that discrepancy.
The board set its next regular meeting for Oct. 21, 2024, at 4:00 p.m. via Zoom.
