Boom keeps booming: At current pace, FY 2019 tax average would break record

Glenrock is on pace to break a sales tax record.
More than halfway through this fiscal year, the town projects for $6.8 million in tax distribution, an increase of more than $2 million over FY 2018. If the trend continues, the town will break the FY 2015 record of $6.63 million.
Coming on the heels of a brutal bust in FY 2017, when the town received a $2.5 million tax distribution from the state, FY 2018’s annual mark of $4.66 million was a welcome increase. That $4.66 million figure looks feeble compared to FY 2019.
“We’re in a great position,” Glenrock Town Treasurer Kelly Lewis said. “It’s very nice to have stability, and per capita we’re way high compared to a lot of other communities. We’re very fortunate.”
From a money standpoint, Glenrock is incredibly secure at the moment, with a whopping $18 million in reserves.
Lewis said that it’s a good idea to look into community improvement projects now, while revenues are high.
Glenrock Mayor Bruce Roumell hopes to use the extra revenue to work on infrastructure needs, but added he wants to “make sure we keep our reserves.”
The town will likely begin addressing water and sewer needs this summer, replacing aging lines.
The goal with town infrastructure is to stay “ahead of the game instead of getting behind the eight ball,” Roumell said.
“It’s a lot easier to get that funding when you’re planning it instead of it being an emergency,” he said.
In addition to addressing infrastructure needs, the town is likely to pursue some more visible community improvements. A dog park at the north end of city park is already incoming according to the mayor.
Roumell noted that the spike in tax receipts is impermanent, and shouldn’t be relied upon in the long term.
“Use tax can go away in a heartbeat if they decide to quit building the gas plants or shut down part of this gas and oil stuff that’s going on,” he said. “We’ve got too many big communities close to us . . . they spend every dime they’ve got, and then they’re standing there wondering how they’re going to get things done because they don’t have any reserves.”
Lewis reiterated that the town is on solid footing.
“We’re very, very strong right now, and we’re very fiscally responsible,” Lewis said. “It looks good going forward, and we’ll see what happens with the energy field.”