Back on St. Patrickâs Day 2020, Tim Grier and Chancy Nutt came to the Star Valley Town Council with grim predictions about revenues in the age of COVID-19.
While the town was in good financial shape at the outbreak of the pandemic and its accompanying lockdowns, Mayor Gary Coon warned, âTax revenues are likely to decrease and that will impact council actions in the future.â
To Grierâs surprise, the predictions of a lean, mean year or two regarding town finances did not pan out â at least so far.
At its April 6 meeting, Grier, Star Valleyâs town attorney/manager, told the council staff is projecting $7.4 million in the townâs fund reserve at the close of the 2020-21 fiscal year. Sales tax revenues are up; CARES Act money has bolstered the coffers; and the staff is seeing a budget surplus. On average, the town is $80,000 in the black each month.