RFTA hopes to keep excess revenues
August 11, 2005
New Castle voters will be asked in November to let the Roaring Fork Transportation Authority keep tax revenues that were higher than anticipated.New Castle residents approved a 0.4 percent sales tax in November to help run the bus system. State law required RFTA to estimate first-year revenues from the sales and use tax. RFTA specified $62,000.A booming economy will produce revenues closer to $118,000, according to RFTA Chief Executive Officer Dan Blankenship.”We blew the estimate,” said Arnie Mordkin, a member of RFTA’s board of directors.State law requires RFTA to refund the excess revenues or seek voter approval to keep them, Blankenship said. The RFTA board approved a ballot question for the November 2005 election in New Castle. RFTA, not the town, will have to foot the bill to hold the election.The RFTA board wants Blankenship to get a second legal opinion on whether the election is necessary because of the low estimate of tax revenues. Assuming it is, the board will hold a special meeting before Sept. 2 to set ballot question wording.