The Town of Silverthorne plans to amend the 2025 Budget at the next Silverthorne Town Council meeting on April 9, 2025. Town staff and council members discussed the 2025 budget during the March 26 work session, and staff have recommended amendments to the 2025 budget due to flattening sales tax numbers.

2025 Proposed Budget Amendments

Silverthorne is proposing an amended budget based on a 5% decrease in sales tax from prior year collections. The amended budget includes a reduction of $793,883 in General Fund operating expenditures and a reduction of more than $5 million in expenditures in the Capital Improvement Projects fund. The budget maintains strong reserves to cover the maintenance of Town facilities and assets, debt payments, and ensures no reduction in the levels of service provided to the community. The amended 2025 budget also includes the completion of important community projects such as:

• New traffic signal at Ruby Ranch Rd. and Highway 9
• Recreation Center expansion project
• Completion of the Trent Park expansion and Adams Ave. extension projects
• New sidewalks, funded in part by a $250,000 grant from the Colorado Department of Transportation
• New lighting on the Blue River Trail between Silverthorne Town Hall and the Silverthorne Pavilion

Capital Projects Funded by Strong Sales Tax Revenues

Over the past decade, the Town of Silverthorne has experienced a substantial increase in sales tax revenue, enabling the completion of a record number of projects within a short period. With record sales tax revenue, the Town has been in a very strong financial position and has been able to supplement the Capital Improvements Project fund by transferring excess reserves from the General Fund. This has enabled the Town to fund projects exceeding the sales tax revenues dedicated to capital projects and asset maintenance.

Projects completed in the past 10 years in Silverthorne include:

• Trent Park Expansion
• The extension of Adams Ave, on-street parking and sidewalks throughout town
• Strategic land purchases such as the Burger King, Pizza Hut, Family and Intercultural Resource Center, and former Summit Fire & EMS Fire Station properties.
• The addition of 349 workforce housing units through the completion of the Smith Ranch Neighborhood.
• Renovations of the Recreation Center, Silverthorne Town Hall and the Art Spot Silverthorne Makerspace.
• New water lines at Hummingbird Circle and sewer line replacements across town.
• New facilities such as Cottonwood Public Works, the Silverthorne Performing Arts Center and the Wildflower Nature School
• Acquisition of public open space at Lowe Estate and to complete the Blue River Trail
• Funding for downtown redevelopment
• Replacement of the bridge over the Blue River by the Outlets at Silverthorne

Capital Projects on Pause

As sales tax numbers flatten in Silverthorne, the 2025 budget has been amended to adjust the pace of projects in Town. The town has paused several capital projects, including the new Silverthorne Police Department facility, as design has not yet been completed, and construction was not expected to begin until 2026. The Town recognizes the importance of this project and providing a purpose-built facility for its officers and the community; and is evaluating existing Town-owned buildings that could house the Silverthorne Police Department until a new facility is completed.

Budget Monitoring

The Town of Silverthorne will continue to evaluate sales and lodging tax numbers as they are available throughout the year and will adjust the budget as needed to maintain the services and facilities expected by the community. Silverthorne prioritizes maintaining a strong financial reserve and regularly evaluates day-to-day operations and cost-saving opportunities to ensure the needs of residents are met.