The 2024 Budget was prepared under the direction of the county commissioners with the following objectives:
- Meet the increasing demands and rising costs for county services.
- Prepare to respond to future disasters.
- Implement a five-year capital plan to replace, improve, or add equipment, land, software, and other capital assets.
- Provide a temporary mill levy credit to property owners.
WHAT IS LARIMER COUNTY DOING WITH THE INCREASE IN ASSESSED VALUES?
| Maintain Existing Services |
$15M |
10% |
- $7.5 M to balance the 2023 budget
- $6M for public safety
- $1M to cover lost recording revenues
- Other Inflation related costs
|
| Pay for New State Mandates |
$4.2M |
3% |
- $1M for jail reporting requirements; body-worn cameras; stormwater permitting; and juvenile offender transportation
- $2M for increased inmate medical costs (This rose > $6M in 3 years)
- $1M for increased officer liability insurance costs)
|
| Fund New Services |
$0.3M |
<1% |
- $700k for housing affordability programs and domestic violence prosecution team
- Offset by ($400k) in budget cuts in motor vehicle, recording staff, phasing out property tax support for Natural Resources
|
| Save for Natural Disasters |
$9.5M |
6% |
- Federal reimbursements for disasters have faced lengthy delays for Larimer County. (There are still approximately $8M in outstanding reimbursements from federal and state partners for the 2013 Flood.)
- Unlike other counties, Larimer County does not have a dedicated sales tax to mitigate and respond to natural disasters.
- This will bring the contingency fund to $20M.
|
| Property Tax Credit |
$5.5M |
4% |
- $5.5M is reflected in the mill levy credit of (0.632).
|
| Remaining |
$2.5M |
2% |
- A significant part of the value increase was in oil and gas properties. The commissioners have requested staff bring options to determine how these dollars might be allocated to mitigate effects of the oil and gas industry on air quality, and consider other options to address needs of vulnerable residents.
|
| TOTAL |
$37M |
25% |
|
Service Categories
The budget is allocated between five service categories that group departments and programs together. They are:
- Public Safety
- Community Planning, Infrastructure and Resources
- Human & Economic Health
- Public Records & Information
- Support Services
Sources of Revenue
The largest sources of revenue are:
- Property Taxes
- Sales and Use Taxes
- State and Federal Revenues
- User Fees (Charges for Services)
- Charges and transfers within the County
- The County's fund balance from prior year surpluses
