Letter: Misinformation about Basalt Library
With the November election less than a month away, TABOR notices are arriving in mailboxes. The TABOR notice goes out to property owners alerting them to ballot measures that will impact taxes.
The Basalt Library District Campaign Committee has been receiving questions about the written comment against ballot measure 4A. We feel that a response from the “yes” on 4A side is in order.
The against statement is full of misinformation. The author has combined four funds to reach his total of $1,657,353 of “funds in reserve for future years.” In reality, this total includes: 1) funds to repay building construction bonds (can only be used for bond repayment), 2) funds to pay for scheduled capital building repairs/maintenance (restricted for repairs and maintenance), 3) mandatory TABOR reserves (restricted) and 4) the operations fund balance for 2016.
The first three categories can only be used for designated purposes. The operations fund balance is the only money that can be spent for day-to-day operations. The 2016 year-end balance in this account will not be sufficient to support full operations in 2017.
The against statement goes on to say that property valuation reassessment will occur annually, when this actually happens every two years. Basalt Library’s income dropped precipitously from 2012 to 2016, losing up to 46 percent of pre-recession revenue for the library. An equally sharp rise from this decline is not expected. Basalt Library is asking for supplemental funding for seven years to maintain services (and not “pad the reserves”) until the economy is again strong. How sad that someone would go so far to discredit the Basalt Library.
Basalt Library Board
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