The Gilpin County Commissioners approved a surplus budget for 2023 during a special meeting at 9 a.m. on October 11, 2022, at the courthouse in Central City and virtually. The Board also reviewed the first draft of the 2023 budget. Commissioner Web Sill was on vacation and did not attend.

County Manager Ray Rears introduced a resolution for surplus budget allocation direction and funds designated to be carried over into the 2023 budget.

The Gilpin County 2022 budget included a total estimated gaming distribution of $10,500,000. Gilpin County received a total gaming distribution of $15,251,005, which represented a surplus of $4,751,005 for 2022.

The Commissioners adopted a resolution defining both short and longterm goals for the County, which became a justification of the areas where surplus funding will be allocated. The Board also adopted a resolution “directing the County Manager to present a budget, which reserves a minimum of eight-percent of the twelve-percent of the Limited and Extended Gaming Funds Distribution to Gilpin County for the 2023 Budget and Future Years” into a “Contingency Reserve Account” up to $4 million.

This action will allocate funds toward the Contingency Reserve Account a year early, with a contribution of $1,220,080, which is eight percent of the gaming distribution received. This action will also pay off all remaining or planned debts for an estimated total amount of $784,556.

The Board approved the allocation, carryover and eventual disbursement of surplus gaming funds toward many different and priority efforts, totaling $4,751,005, as follows: Staff, Capital, Programs, and Plan totals $2,711; $4,498 Reserve; $1,220,080 additional toward reserve; $34,920 debt payoff; $784,556 Surplus Expenditure/Reserve. Total: $4,751,005.

Rears said this will take care of capital improvements and staff expenses. The Board approved the surplus budget carryover to 2023.

Rears presented the 2023 Budget First Draft. He said it has to come before the Board prior to October 15.

Total revenue in the draft budget totals about $27 million, and total expenses total about $31 million, so the County will use the surplus funds just transferred to the 2023 budget in order to balance. He said they are using the County’s goals and objectives for guidance as they balance the budget.

The budget will be discussed further during work sessions on October 17, 19. 25, 26 and 27. To obtain a copy of the budget, contact Interim Finance Director Lorna Plamondon lplamondon@gilpincounty.org.

For more information, go to https://gilpincounty.colorado.gov/ public-meetings/board-of-countycommissioners bocc-meetings.