Granby’s mid-year sales tax revenues on track to make budget
Granby, CO Colorado
GRANBY – A mid-year report about Granby sales tax shows the town on target for 2011 budget numbers.
Sales tax revenue for 2011 was budgeted at $1.7 million. As of June 30, the town had collected 60 percent of budget, a showing 1 percent ahead of projections for this time of year.
Compared to 2010 sales-tax numbers, Granby is up by 8.01 percent, according to the latest report prepared by Finance Director Sharon Spurlin.
The $822,885 of sales tax “windfall” money that came out of a state audit last year is not calculated in that comparison, Spurlin said. That money remains in a reserve in accordance with board wishes.
Of sales-tax collections recorded thus far for the bicycle event-heavy month of June, the town gained about $8,000 compared with last year.
In retail, with two more businesses reporting sales tax in June compared to last year, collections for the month were up by $2,746, with 58.8 percent of retail businesses reporting.
Of the 19 restaurants/bars in the town, collections for June were up by $1,816, with 73 percent of businesses reporting so far.
And of the 12 lodging and nightly rental businesses in Granby, only a slight increase of $755 has been recorded for the month with slightly more than half reporting.
Meanwhile, liquor, fuel and grocery businesses were up by $867 in June, with 72 percent of the town’s 25 businesses in this category recorded.
Liquor, fuel and grocery businesses make up the largest share of the town’s sales tax at about 52 percent.
Meanwhile, the town’s use tax from construction materials and new-vehicle tax is seeing a comeback in 2011. Spurlin reported the town is seeing a 30 percent increase over last yea, or about $21,600. Motor vehicle sales taxes make up 46 percent of the total $93,383 in use tax collections during the first six months of the year.
Tonya Bina can be reached at 970-887-3334 ext. 19603
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