MEMORANDUM
DATE: September 11, 2024
TO: Pikes Peak Rural Transportation Authority Board of Directors
FROM: Lisa Corey, Financial Manager
THROUGH: Rick Sonnenburg, Secretary to the Board
SUBJECT: FY 2025 Budget Calendar and Revenue Estimate
ACTION REQUESTED: Approval
A draft FY 2025 Budget Calendar is attached for the Board’s review. The FY 2025 calendar is very similar to the FY 2024 calendar, and it satisfies the legal requirements set by the State of Colorado for Government Entities.
The Board is requested to discuss a Sales and Use tax revenue estimate based on the most recent 2024 actual figures available to determine the foundation of the 2025 budget. At this time, my suggestion is $150,000,000, subject to change depending on the next month’s revenue once it is made available. I would suggest setting the Interest Earnings estimate to be $10,000,000 to allow more funds to be made available without changing the Sales and Use Tax estimate for 2025.
Recommendation to the Board
The Pikes Peak RTA staff and the Citizen Advisory Committee recommended that the Board approve the FY 2025 Budget calendar and the 2025 revenue estimate.