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Boulder expecting budget shortfall for 2018

Posted at 2:10 PM, Apr 02, 2018
and last updated 2018-04-03 02:38:21-04

BOULDER, Colo. -- The city of Boulder is expecting a $4 million budget shortfall for 2018, which city officials say is due to a flat sales tax revenue.

"We’ve confirmed that the retail sales tax is actually going to be flat. So in other words, it's going to be the same as last year, and there won’t be the projected two percent increase," said City of Boulder Spokesman, Patrick Von Keyserling.

The city is in the midst of conducting a retail analysis to examine reasons behind the shift in resident spending.  

"We are not seeing a lot of increase with new businesses coming in with the retailers," said Keyserling. 

The budget shortfall could cause cuts to city programs and the possibility of not filling open positions. Overall, the city did generate a 7.5 percent increase in revenue compared to last year.

On April 24, a study session will be presented to city council outlining the reasons behind why residents aren't shopping locally.