HomeMy WebLinkAboutMINUTES Town Board Study Session 2022-08-23RECORD OFPROCEEDINGS
Town of Estes Park, Larimer County, Colorado, August 23, 2022
K8iDUteS of a Study Session meeting of the TOWN BOARD of the Town of
Estes Park' LohDle[ County, CU|0[8dO. Meeting held at Town Hall in said
Town ofEstes Park nnthe 23mday ofAugust, 2O22.
Board: Mayor Koenig, Trustees Cenao, Hazohon. K8acA|pine.
Attending: All
Also Attending:
Town Administrator Maohe|ek, Assistant Town
Administrator Dumweber, Attorney Kramer, Town Clerk
Williamson
Absent: None
Mayor Koenig called the meeting to order at 6:00 p.m.
OVERVIEW OFBUDGETARY IMPLICATIONS OFRECESSIONS.
Director Hudson provided an overview of nyoeooion, noting neoauoione are officially
declared by the National Bureau of Economic Research in the United States;
highlighted recent recessions, including C0V|D-19 in 2020. the Great Recession in
2OO7-2OOA;and the collapse ofthe dot.00mbubble in2O01. Hediscussed the impact
of the most recent recession on the local economy noting a decrease in sales tax of
approximately 7.4% which required the Town to decrease sales tax prcjeotiono, impose
a hiring freaze, reduce seasonal hiree, cancel evonta, and reduce expenditures by$1O
million. The Town held monthly meetings to ensure it was responding appropriately to
changes in the economic n|imata, monitored utility de|inquenoioe, and cash and
investments were monitored for liquidity. The Town has policies and procedures in
place to effectively manage future eoeueion, including budgeting revenues
conaemative|y, regularly monitoring financial pooition, amend budgets as necessary
throughout the year to address financial changes, and Finance Policy 070 has
established a net of contingency actions to mitigate financial downturns without having
toset aside large nasemou.
SEMI-ANNUAL COMPLIANCE REVIEW WITH BOARD GOVERNING POLICIES —
POLICY 11OSELF-MONITORING OF THE BOARD. Mayor Koenig questioned if the
Board had any questions or concerns related to the Board Governance policies. No
comments orquestions were discussed.
TRUSTEE & ADMINISTRATOR COMMENTS &QUESTIONS.
None.
FUTURE STUDY SESSION AGENDA ITEMS.
The September 13m meeting would include a discussion on a racial covenant ordinance
and a proposed framework for expenditure of potential lodging tax revenues.
The Geptembor27m meeting would include a discussion on the draft wayfnding plan
and building codes.
Mayor Koenig requested m study session on the Western Heritage issues atafuture
meeting.
There being no further business, Mayor Koenig adjourned the meeting at 6:45 p.m.
kieWilliamson, Town Clerk