Question 1

Where does municipal finance data come from?

Accepted Answer

Municipal finance data comes from the Colorado Department of Local Affairs (DOLA) County and Municipal Financial Compendium, which has aggregated annual financial statements from every CO local government since 1975.

Question 2

What are the main revenue sources for a municipality?

Accepted Answer

Colorado municipalities rely on sales tax (often self-collected under home rule), property tax, use tax, service charges, intergovernmental revenue, and occupation/lodging/marijuana taxes where applicable. TABOR caps growth in state revenue.

Question 3

What is a General Fund and why does it matter?

Accepted Answer

The General Fund is the municipality's primary operating fund. It covers core services like police, fire, public works, and administration. A healthy General Fund balance (typically 25-50% of annual expenditures) indicates the town can handle unexpected expenses without raising taxes or cutting services.

Question 4

How current is this financial data?

Accepted Answer

Reports typically lag 1-2 years.

Ovid, CO

Ovid Municipal Budget

Finances — FY 2022