News Flash


Posted on: November 9, 2023

Avon Town Council to Adopt 2024 Budget in December

Fall colors around Nottingham Lake

Avon Town Council to Adopt 2024 Budget in December


Avon Town Council has been reviewing a proposed 2024 Budget at several meetings this past month. The community is invited to comment on the budget at its upcoming public hearings to be held November 14, and December 12. Budget materials can be found on the Town of Avon website, access this link: Budget | Avon, CO - Official Website.
The 2024 budget presented is conservative and considers the current economic uncertainty yet still allows for funding of council’s goals and priorities related to growth and development, more specifically in the areas of community housing, sustainability, long-range planning, recreation, operations, and police.  The Town’s fund balances are projected to remain very healthy to support municipal operations in case of economic downturn and revenues and expenditures have been budgeted conservatively so that the Town’s financial picture remains solid and sustainable. Highlights from the Budget Report dated October 20 from Finance Director Paul Redmond are as follows:
GENERAL FUND: The General Fund includes a total reserve of $18,479,991 which includes the minimum reserve fund balance of 22% ($6,216,499), the required 3% TABOR emergency reserve ($847,704) and undesignated unreserved funds in the amount of $11,415,788.
REVENUE PROJECTIONS:  Revenue projections are modest and conservative.  Not included in the revenue projections is the revenue generated if the ballot proposal imposing a Use Tax on Construction materials passed.  If the voters approve the question this November, revenues will be adjusted accordingly.  Sales and Accommodation tax revenues have been budgeted to increase by 3%.  Other General Fund revenues, including other taxes, fees, and licenses, remain flat with 2023. Property Assessed Values have increased between 40 - 50% in 2023. This will provide an additional $878.511 for the General Fund. 
URBAN RENEWABLE AUTHORITY FUND:  The URA had a 51% increase in 2023 Assessed Values which will result in $944,887 in increased TIF revenue.  Included in the Capital Projects Fund Long-range Plan are annual transfers-out from the Avon URA to the Capital Projects Fund.  These transfers represent excess cash flow in the Avon URA over and above the annual TIF revenues necessary to cover debt service.  The transfer for 2024 is $1,750,000. Projects currently identified in the Capital Projects Fund Long Range Plan that fall within the designated URA Plan area include recreation center improvements and park irrigation improvements.
CAPITAL PROJECTS FUND:  The Capital Projects Fund balance for the next three years is healthy with at least $6 million.  Avon’s policy is to keep at least $1 million in the CIP fund balance which leaves $4 million not yet designated for Capital Projects. The General Fund unrestricted reserves are also considered as sources of funds for payments on capital improvements. The Town’s need for capital improvements will include several new potential projects as well as an established and robust schedule for the maintenance of existing facilities and roads/streets infrastructure, transitioning fleet purchases from lease purchase arrangements to cash purchases, as well as improvements to town owned parks. 
 Several potential capital projects are identified below but not included in the Capital Projects Fund 5-Year Plan. The list of projects would require Council and community input so the town would be able to strategically prioritize and determine appropriate funding resources to support such improvements.

2023 Budget Graphic

COMMUNITY HOUSING FUND:  The Community Housing Fund receives revenue from the 2% short-term rental tax which has increased by 3% or $30,900.  The fund also receives an annual transfer of 10% of the real estate transfer tax from the CIP Fund in the amount of $450,000.  Fund monies cover costs related to the Mi Casa Deed Restriction Program, an Eagle County Regional Housing Plan, and potential future housing projects (State Land Board Land, East Avon Parcel),
If you have further questions regarding the budget document, the budget process and adoption, please contact the Finance Director at,

Facebook Twitter Email

Other News in Home

Two kids playing hockey on Nottingham Lake

Ice skating returns to Nottingham Lake

Posted on: January 4, 2024
parking photo

Avon Launches Managed Parking Plan

Posted on: December 15, 2023
Snowy Bus

New Clean Diesel Buses Rolling in Avon

Posted on: November 30, 2023
EV Charging Station

Electric Vehicle Charging Price Change

Posted on: November 1, 2023
Wildfire mitigation above Metcalf Road in Avon

Wildfire Mitigation in Wildridge

Posted on: August 25, 2023
Wildfire mitigation above Metcalf Road in Avon

Wildfire Mitigation in Wildridge

Posted on: August 25, 2023
SUP Paddler racing towards a yellow buoy

SunsetSUP Race this Friday

Posted on: July 25, 2023
Swimmer in Nottingham Lake with Beaver Creek in background

Nottingham Lake Reopens

Posted on: June 21, 2023
Lake Swimmng SMALL

Nottingham Lake Swim Area Closure

Posted on: June 15, 2023