{"id":302,"date":"2026-05-18T04:10:28","date_gmt":"2026-05-18T04:10:28","guid":{"rendered":"https:\/\/bouldermovingguide.com\/?p=302"},"modified":"2026-05-18T04:10:28","modified_gmt":"2026-05-18T04:10:28","slug":"boulder-predicting-budget-gap-as-economic-forecast-remains-cloudy","status":"publish","type":"post","link":"https:\/\/bouldermovingguide.com\/?p=302","title":{"rendered":"Boulder predicting budget gap as economic forecast remains cloudy"},"content":{"rendered":"
\n

City of Boulder officials have identified a $6.5 million shortfall in the 2027 budget, setting the stage for another tight budget year as key sources of city revenue are not keeping pace with expenses.<\/p>\n

Read more \ud83c\udfe0 Inside Boulder\u2019s new recovery home for homeless residents<\/a><\/p>\n

The economic outlook builds on several years of relatively slow revenue growth. For the first time since the start of the Covid-19 pandemic, Boulder\u2019s city manager last year recommended cuts to General Fund spending, the city\u2019s largest source of discretionary money, to help close a $7.5 million shortfall in the 2026 budget.<\/p>\n

For the latest potential gap, the city manager has asked all departments to prepare ongoing 4% reductions, with an emphasis on permanent cuts, according to a presentation from city officials to the Boulder City Council last week.\u00a0<\/p>\n

\u201cIt is a hard conversation that we will be having again,\u201d City Manager Nuria Rivera-Vandermyde told members of the Boulder City Council last Thursday.<\/p>\n

Sales tax revenue has flattened in recent years. In 2025, sales tax revenue, the city\u2019s largest single source of money, came in below projections used in the budget. At the same time, the city has lowered its property tax revenue projections due to state legislation that reduced assessment rates.<\/p>\n

One driver of the flattening sales tax is the shift to remote work, which has reduced downtown foot traffic and consumer spending. About 30% of downtown offices are vacant, according to a recent report by The Colorado Group, a local real estate firm.<\/p>\n

Boulder is also experiencing the effects of a broader national slowdown in retail sales growth and rising inflation. Colorado gas prices rose 93% from January to May, reaching $4.50 per gallon, due to the war in Iran, according to a presentation from CU Boulder\u2019s Leeds School of Business.<\/p>\n

Read more Boulder considers November 2026 ballot measures on vacant home tax, property tax increases and debt for underfunded facilities<\/a><\/p>\n

\u201cPeople feel like they may need to hold back more or change their spending patterns,\u201d Brian Lewandowski, executive director of the Business Research Division at the Leeds School of Business, told councilmembers.\u00a0<\/p>\n

Sales tax growth does appear to pick up slightly in 2028 based on projections. \u201cWe have slow but steady growth throughout the horizon,\u201d Lewandowski said.<\/p>\n

In 2025, Boulder\u2019s year-over-year sales tax growth lagged behind Colorado and many Front Range communities, according to a Leeds School of Business presentation. Among the factors particular to Boulder, the Leeds School of Business cited the high cost of living, housing prices and the concentration of tech jobs, which have been hit by recent layoffs. The Trump administration is also seeking to dismantle the National Center for Atmospheric Research, and some uncertainty persists at the National Institute of Standards and Technology.<\/p>\n

The Leeds School of Business cited the Sundance Film Festival, which will debut in Boulder in January 2027, as a potential revenue opportunity, but city officials said they will incorporate the festival into the sales tax model only when actual revenue from the event materializes.<\/p>\n

\u201cWe are taking a realistic approach in year one of Sundance \u2026 and making sure that we do not overprogram any revenue that we have not yet received,\u201d Scott Carpenter, the city\u2019s principal budget analyst, told councilmembers last week.\u00a0<\/p>\n

The city has separately identified $400 million in unfunded needs for facility renovations or replacements, including repairs for its recreation centers. Councilmembers last week directed city officials to poll likely voters on potential measures to raise property taxes and take on debt to help cover this funding gap.\u00a0<\/p>\n

Read more Museum of Boulder unveils winner of unofficial city flag contest after nearly 200 submissions<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

City officials say slowing sales tax growth and rising expenses are contributing to a projected $6.5 million shortfall in the 2027 budget.<\/p>\n","protected":false},"author":1,"featured_media":301,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[50],"class_list":["post-302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-government","tag-2027-budget"],"yoast_head":"\nBoulder predicting budget gap as economic forecast remains cloudy - Boulder Moving Guide<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bouldermovingguide.com\/?p=302\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boulder predicting budget gap as economic forecast remains cloudy - 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