Aspen City Council approves 2016 budget of $94 million |

Aspen City Council approves 2016 budget of $94 million

Staff report

Aspen City Council passed its 2016 proposed budget Monday night.

The net budget proposed for adoption equals $93,766,010 for operational, debt service and capital outlay needs, and is an increase of 1.3 percent relative to the budget adopted for calendar year 2015, according to a memo to the council from city Assistant Finance Director Pete Strecker.

Within the last month, City Council and staff have completed five budget work sessions.

According to the memo, Aspen’s economy continues to experience growth, with 2015 local sales and lodging tax revenues expected to exceed prior year collections by roughly five percent and seven percent, respectively.

Despite increasing concern of a strong U.S. dollar, however, there is still an overall positive outlook for 2016, the memo said.

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