Town of Lovell able to trim budget for ’24-25 fiscal year

The Lovell Town Council on June 11 voted to approve a 2024-25 fiscal year budget that is down about $139,000 from the ’23-24 budget due to shifting budget priorities and projects.

The council passed the annual appropriation ordinance – 1010, 2024 – allocating $4,711,855 for the fiscal year that began on July 1 and runs through June 30, 2025, a budget that is $139,156 smaller than the appropriation of $4,851,011 for the previous fiscal year.

Clerk/treasurer Colleen Tippetts said the budgeting process went well this year, with she and town administrator Jed Nebel working with department heads to work on funding levels.

“I thought it went smooth,” Tippetts said. “We started early, so we were able to get on top of things early on, but there’s always those last-minute things we have to deal with.”

On the revenue side of the budget, the town is budgeting $2,475,087 for the General Fund, up from $2,176,270 a year ago. Actual revenue came in at $2,554,090 by the end of the fiscal year.

Tippetts said the town works closely with the Wyoming Association of Municipalities to determine expected revenue and always leans to the conservative side for the estimates.

“WAM sends us a booklet that has numbers in there, but we don’t totally rely on the numbers,” she said. “So, I just kind of estimate, I look at how it was for the last several years and kind of estimate that way and hope for the best.

“You just never really know. If it comes in, that’s great, and if it comes in above that, that’s awesome. But I’d much rather be very conservative.”

As an example, the town saw an increase in property tax over revenue projections, budgeting $150,000 but receiving $188,161. Still, the ’24-25 budget maintains the expected revenue at $150,000, in part due to some state property tax relief programs.

Other revenue levels in the General Fund are a mixed bag. For instance, severance tax revenue was budgeted at $81,000 but came in at $62,443, but mineral royalties were budgeted at $190,000 and came in higher at $194,762. Supplemental funding from the State of Wyoming was budgeted at $400,000, and the town received $473,635. Similarly, the town budgeted $70,000 in interest revenue but received $172,660, in part due to opening a savings account that draws a higher interest rate than the checking account.

Sales tax revenue also saw a positive trend. State sales tax came in at $583,821 after the town budgeted $520,000, and the county option sales tax revenue was $506,050, much higher than the budgeted $420,000. The town received $32,963 in Wyoming gaming tax revenue, higher than the budgeted $19,000.

Despite higher revenue totals than the ’23-24 budget, revenue totals in the new budget are conservative. As one example, though property tax came in $38,000 higher than the budget, the town elected to maintain the budget of $150,000. In other categories, the budget inches revenue projections upward but not to the level of actual revenue: state gaming tax up from $19,000 to $25,000, state sales tax from $520,000 to $555,900 and county option sales tax from $420,000 to $480,800.

Other budget line items remained the same or were lowered, depending on projected revenue.

Budget breakdown

On the expenditure side of the General Fund budget, the town is budgeting $2,475,087, up from $2,143,825 a year ago.

The Administration budget is $570,887, up from $505,673 a year ago and actual expenditures of $462,903. In line items of interest, the budget for salaries is up about $20,000 to $219,281, computer software and maintenance is up $6,000 to $20,800, annex expenses of $7,200 in the previous budget eliminated with the move of the police department to Third Street, economic development up from $2,000 to $10,000 and area promotion and development up from $8,500 to $14,023 including $2,000 for the grand opening of Armory Park.

Tippetts said the cost of computer software and maintenance is up across the board due to higher costs of the Caselle billing software and the Cosentus IT maintenance program.

The Police and Fire budget is set at $1,214,718, up from $1,046,306 and actual expenditures of $1,058,334. Salaries and related expenses are up, and like the administration budget, the line item for computer software and maintenance is up $19,000 to $45,000. There are minor adjustments in other areas.

Under Streets and Alleys, the budget is set at $211,307, up from $183,521 and expenditures of $180,459. Salaries are down slightly, but the street repair budget jumps from $17,000 to $40,000, reflecting a crack seal project of $12,000 and a dust control line item of $5,000.

The Mosquito Control budget is $19,763, down from $34,142, reflecting a decrease in the tools and supplies line item from $20,000 to $2,000.

For Parks and Recreation, the budget is set at $402,229, up from a ’23-24 budget of $347,485 and actual spending of $338,025. Salaries are up by about $5,000, and most other line items remain the same except for the equipment purchase budget, which has increased from $10,000 to $70,000 for the purchase of a new trailer and a new mower deck.

Finally under the General Fund, the Community Center budget is $56,183, up from $34,498, reflecting an increase in the equipment purchase line item from $1,000 to $21,000. Tippetts said the town is hoping to purchase new tables and chairs for the community center.

The budgets for other town departments are as follows:

• Capital Improvements Fund -- $60,450, up from $50,450 a year ago. The increase reflects the town meeting a request from the Foster Gulch Golf Course board to increase the annual allocation by $10,000 to $40,000 for the construction of a new deck at the clubhouse.

• Construction Fund -- $394,092, down from $430,160. The budget reflects phase two of the Armory Park renovation project. The project is paid for through a state grant and a town match.

• Lodging Tax Fund -- $24,600, up from $18,100, with revenue projected at $20,000 and carryover of $4,600. Expenditures were $18,100 in ’23-24.

• Garbage Fund -- $488,151, down significantly from $822,758 now that a new garbage truck has been purchased and delivered.

• Sewer Fund -- $466,481, up from $396,452 a year ago and actual expenditures of $383,524. The budget reflects an increase in the equipment purchase line item from $20,000 to $51,872 including a new sewer pump and a new aerator. Debt service on the water and sewer bonds remains at $250,000 for the new fiscal year.

• Water Fund – $803,034, up slightly from $802,026 and actual expenditures of $831,824. Increases are in the area of salaries and related expenses, computer software and maintenance, safety training and equipment and new water meters.