{"id":1319847,"date":"2020-05-08T15:17:45","date_gmt":"2020-05-08T21:17:45","guid":{"rendered":"https:\/\/www.vaildaily.com\/?p=477767"},"modified":"2020-05-09T16:18:16","modified_gmt":"2020-05-09T22:18:16","slug":"vail-budget-cutbacks-deepen-in-wake-of-economic-decline","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/kske\/local-news\/vail-budget-cutbacks-deepen-in-wake-of-economic-decline\/","title":{"rendered":"Vail budget cutbacks deepen in wake of economic decline"},"content":{"rendered":"
\n
\n

<\/p>

The Vail Town Council Tuesday adopted a stepped-up recession budget plan, but also approved spending about $4 million to build a new retaining wall at the town’s public works facility.<\/strong>
<\/figcaption><\/div>\n<\/figure>\n

Here\u2019s the good news: Vail\u2019s sales tax collections in March declined 46% from 2019. Town officials had expected a 75% drop.<\/p>\n

Vail\u2019s revenues continue to drop due to the near-shutdown of the town\u2019s economy caused by the COVID-19 virus pandemic. In response, town officials are moving from the \u201csignificant\u201d recession plan adopted in April to the plan for a \u201cmajor\u201d downturn.<\/p>\n

That plan includes a hiring freeze and a freeze on wage increases. Cutbacks in hours could be coming, along with possible staff furloughs for seasonal employees. The town has already cut roughly $18.5 million from planned capital expenditures for this year.<\/p>\n

Better than most<\/h2>\n

The good news in the face of the cutbacks is that the town continues to have a solid reserve fund.<\/p>\n

\n
\n
\n
\n
\n

<\/p>\n<\/div>\n<\/div>\n

Support Local Journalism<\/h3>\n