The Buena Vista board of trustees voted unanimously, to approve the town’s 2021 budget Tuesday night.
The budget anticipates total government-wide revenues of $10,317,000.03 in 2021 and sets the government-wide expenditures at $10,231,373.19, which would make for an increase to the town’s fund balance of $85,626.
For the 2020 budget, total revenues were $8,835,331.73 and expenses were $9,237,759.86.
The most recent sales tax receipts remitted to the town from the state from January through September in 2020 put the town’s actual revenue from sales taxes at 14.84% over what was budgeted.
In actual revenue and expenses in 2019, the town brought in $9,762,001.69 and spent $8,549,738.17, adding $1,212,263.52 to the general fund balance.
The 2021 budget approved Tuesday anticipates $2,514,927.92 in revenue from town sales taxes, $1,408,610.09 from county sales taxes and $463,867 from general property taxes, among numerous other sources of revenue including taxes, fees, and state and local grants.
Capital improvement expenditures are budgeted at $1,582,351. The town spent $647,935.61 on capital expenditures in 2019.
The upcoming year’s budget will also be the first to count revenue from retail marijuana sales.
The budget estimates it will bring in $125,000 in tax revenue from the sale of recreational cannabis.