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Colorado - Wed. 05/28/25 |
A Free Business Publication from Alpine Bank
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COLORADO SETS NEXT YEAR'S K-12 EDUCATION FUNDING AT MORE THAN $10 BILLION
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Colorado will spend more than $10 billion on K-12 public schools during the 2025-26 fiscal year after Gov. Jared Polis signed the state’s new School Finance Act. Individual school districts will receive the same or more money than they did this year. The state’s $1.2 billion shortfall put a wrench in legislators’ plan to use a new funding formula they created for schools last year, which was supposed to put $500 million more toward K-12 education during a six-year period starting next fiscal year. Unable to implement the new formula, the governor, lawmakers and school districts debated this session how Colorado determines how much per-pupil funding each K-12 system receives, namely the formula’s use of “averaging.”
The new law, House Bill 1320, will use a four-year enrollment average to help determine funding — a method that districts have said will help them adjust to falling K-12 enrollment, as the amount of money a school receives is based on the number of children in their classrooms. Without averaging, districts would receive less money as enrollment is falling statewide. During the 2026-27 fiscal year, the number of years used to create an enrollment average will drop to three as long as certain measures are met. The bill sets the state’s per-pupil funding amount at about $8,691.
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BOLDER BOULDER: REGISTRATION NUMBERS TOOK OFF FOR 45TH MEMORIAL DAY 10K
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It took a few years for Boulder’s annual Memorial Day 10K to recover from a two-year hiatus caused by the COVID pandemic, but the 2024 race drew 48,318 entrants, a total that was on par with the Bolder Boulder’s pre-pandemic levels. This year’s race, the 45th edition of the Bolder Boulder, took that to another level. Race organizers reported 52,185 entries for Monday’s rain-speckled race, marking the 11th time the Bolder Boulder has attracted at least 50,000 entrants. It was the fifth-highest number of entrants in the race’s history, and the most since a record 54,554 signed up in 2011. Thanks to the cool and mostly overcast conditions, the 2025 Bolder Boulder turned into one of the fastest races in the event’s history.
- Kenya’s Grace Loibach Nawowuna won the women’s pro race for the second consecutive year, setting an event record with a winning time of 31 minutes, 51 seconds. Nawowuna became the first athlete to break 32 minutes in the women’s pro field and bested the previous record by 22 seconds.
- Conner Mantz became the first athlete to win the men’s pro race in three consecutive years, and while he didn’t break any records, his time of 28:21 tied the sixth-fastest time in the event’s history.
- The top four finishers all cracked the top 20 times in the history of the men’s pro race.
- On Tuesday, race officials said the final tally of finishers was 46,664, a number that accounted for 89 percent of the entrants. That figure is in line with last year (91 percent) and 2023 (90 percent).
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SOUTHERN UTE TRIBAL MEMBER ELECTED TO CHAIR COLORADO WATER POLICY BOARD IN HISTORIC FIRST
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The Colorado Water Conservation Board, one of Colorado’s top water policy agencies, has a new leader: Southern Ute tribal member Lorelei Cloud. The 15-member board sets water policy within the state, funds water projects statewide and works on issues related to watershed protection, stream restoration, flood mitigation and drought planning. On May 21, board members elected Cloud to serve a one-year term as chair, making her the first Indigenous person to hold the position since the board was formed in 1937. Cloud said her new role gives Indigenous people a long-sought seat at the table where water decisions are made. “This is history,” Cloud said during the meeting. “What a moment. What a great moment for the state of Colorado.”
In 2023, Gov. Jared Polis appointed Cloud for a three-year term, making her the first known tribal member to hold a seat on the board. Cloud also served as the board’s vice chair for a year starting in May 2024. Cloud has twice served as vice chairman of the Southern Ute Tribal Council. She has also held leadership positions in The Nature Conservancy Colorado, the Indigenous Women’s Leadership Network, the Ten Tribes Partnership, and the Water and Tribes Initiative.
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TSA SETS NEW RECORD FOR NUMBER OF TRAVELERS SCREENED IN A SINGLE DAY
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The Transportation Security Administration announced it screened more than 2.95 million airline passengers on Friday, setting a new record for a single day. The agency said Saturday that it screened 2,951,163 individuals at airport checkpoints nationwide on Friday, surpassing the previous record of 2,907,378 set on the Sunday after Thanksgiving last year. Ahead of the start of Memorial Day weekend, the TSA predicted that Friday would be the busiest day for air travel, with nearly 3 million people expected to pass through airport checkpoints. TSA screened just under 2.9 million people Thursday, coming within about 11,000 from the previous record. Five of the 10 busiest-ever travel days have been since May 16.
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MIKE THE HEADLESS CHICKEN: A COLORADO CELEBRITY WITH HIS OWN FESTIVAL, MAY 30-31
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On Colorado’s Western Slope, a headless chicken from the 1940s is still a beloved figure celebrated each spring. In 1945, Mike the Headless Chicken, hometown Fruita, lived for about 18 months without a head, after surviving processing to sell at a local market. Since 1999, the town has commemorated one of its foremost celebrities with his own namesake festival, which marks its 25th anniversary on May 30-31. The event includes live music, a 5k run, and other fowl-inspired festivities like a chicken dance competition, a poultry show, a wing-eating contest for adults and Peeps-eating contest for kids, and more. Attendees can even take pictures with a Mike the Headless Chicken mascot. The 25th Mike the Headless Chicken Festival comes to the Fruita Civic Center and Park, at 325 E. Aspen Ave. on Friday, May 30 and Saturday, May 31. Find more information at miketheheadlesschicken.org.
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SHERIFF BILL MASTERS' NEXT CAREER: FILM STAR
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San Miguel County Sheriff William ‘Bill’ Masters, the legendary 12-time sheriff, will play himself in an upcoming documentary by filmmakers David Holbrooke, Gus Gusciora and friends. The filmmaking team’s goal is to enter the new documentary, with the working title, “He’s My Sheriff,” in the Sundance Film Festival this fall. Holbrooke remembers when Masters announced his retirement in early February. “I thought all that day about making a film,” Holbrooke said. “He’s been serving this community since 1974. When I saw Gus that evening and told him what I was thinking, he said, ‘Great idea.’” “Bill’s is an incredible story, and it needs to be told,” said Gusciora. The documentary will be a short piece, 20-30 minutes, spanning Masters’ career with photos, headlines and new interviews with locals. In fact, Holbrooke and Gusciora welcome input from anyone who has a story to tell about Masters. They’re filming everything they can, from Masters’ interactions on the street to vehicle rescues in blizzards and to the speech Masters gave in Delta for the police academy graduates last week. Masters is continuing to support peacekeeping in the region. When he talked about the speech he would be giving to the police academy graduates last week, Masters focused on the peace aspect. “Their license in the State of Colorado is not to be a law enforcement officer. The license says ‘peace officer,’” he said.
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NEW MURAL COMING TO DOWNTOWN MONTROSE
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Downtown Montrose is set to receive a vibrant new addition with the upcoming installation of a large-scale mural on the rear of the buildings located at 431, 433 and 435 East Main Street. This is the first in what will be a string of new murals to be added to the City of Montrose. The two buildings are home to local businesses Studio 14 by Gabrielle, Wilde Merrion, The Screen Medic, and Heirlooms for Hospice. Nationally recognized muralist Jesse Melanson, whose captivating artwork can be found in cities across the U.S., will begin the installation the week of June 2.
This initiative aims to enhance the aesthetic appeal of the downtown area and further cultivate Montrose's growing arts scene. The mural promises to be a significant visual landmark, adding color and vibrancy to the heart of the city. A celebration of the mural installation will be held in conjunction with the Montrose Art Crawl at 4 p.m. on Thursday, June 12, where community members will have the opportunity to meet the artist. For further information or inquiries, please contact Kevin Clay at kevin@melaes.com or Michelle Wingfield at mwingfield@cityofmontrose.org.
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DURANGO ASKS RESIDENTS TO BE CONSERVATIVE WITH WATER AMID DROUGHT CONDITIONS
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As the National Integrated Drought Information System forecasts drought conditions to persist in Durango and La Plata County, the city is reminding residents to be conscious of their water use. NIDIS describes the current drought as “severe.” In a Durango City Council study session with Durango Fire Protection District earlier this year, DFPD indicated conditions resemble those of 2002 and 2018 before the Missionary Ridge and 416 fires, respectively, said Laura Rieck, public works spokeswoman. Durango Water Plant Manager Jason Fast recommended residents refrain from watering their lawns more than twice per week, and to reduce the amount of time spent watering. The city prohibits the use of irrigation sprinkler systems between 9 a.m. and 7 p.m. to prevent loss of water to evaporation.
Water use tips:
- Residents should be mindful of their water use habits and consider installing fixtures and equipment that better manage water.
- Turn the sink off while brushing one’s teeth.
- Take shorter showers.
- Technology upgrades are the real game changers. Faucet aerators, for example, cost only a few dollars and are simple to install with a screwdriver. Low flow shower heads are relatively inexpensive – around $30 to $50 – and are also easy to install.
- Consider more efficient clothes washers, dishwashers and toilets, when planning major renovations or home improvements.
- For renters with concerns about water waste, such as in the case of a leaky faucet, toilet or home appliance, they should contact their landlords, who are obligated to facilitate necessary repairs or upgrades.
- Using precise irrigation timers and moisture control systems and limiting lawn and garden watering to mornings and evenings help with outdoor water use management.
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VR SAYS ROB KATZ IS RETURNING AS CEO AFTER KIRSTEN LYNCH STEPS DOWN
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Rob Katz is returning to his role as CEO of Vail Resorts and Kirsten Lynch is stepping down, the company announced Tuesday. The move comes on the heels of a challenging North American winter season for the global ski giant, headlined by a prolonged ski patrol strike in Park City, Utah, that created an avalanche of bad press and sent the company’s stock plunging. Katz, 58, was CEO of the company starting in 2006 and was appointed chairperson of the board of directors in March 2009, serving in both roles until November 2021. Lynch, who stepped into the CEO role in 2021, will remain in an advisory role to the company for an interim period to facilitate a smooth transition. Following Tuesday’s announcement of the leadership shuffle, Vail Resorts’ stock jumped 19 points, from $151 to $170 per share. Katz will continue to serve as the chairperson of the board, which comprises 11 directors.
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45TH ANNUAL YAMPA RIVER FESTIVAL BEGINS THURSDAY, MAIN EVENT ON SATURDAY
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The Yampa River Festival, Steamboat Springs’ traditional kick-off to summer, celebrates its 45th annual rendition this week. The festival, held Thursday to Sunday, is hosted by Friends of the Yampa and honors the Yampa River and its many offerings to river recreators in Northwest Colorado. The festival begins at 5:30 p.m. on Thursday with the State of the Yampa Address at Bud Werner Memorial Library. Friday night is the Adam Mayo Memorial Fish Creek Race beginning at 6 p.m. The Yampa River Festival Main Event runs 10 a.m.-6 p.m. on Saturday at Charlie’s Hole, behind Bud Werner Memorial Library. The event concludes on Sunday with the kayak slalom at 10 a.m. at Dr. Rich Weiss Park.
The State of the Yampa Address will feature a Yampa River update from Friends of the Yampa beginning at 6 p.m. Thursday in Library Hall at Bud Werner Memorial Library. The address will also screen a short film, “A Guide to Fighting for Wild Rivers” by OARS. A panel will answer questions about the 15 years of the Yampa River Awareness Project following the screening. Doors open at 5:30 p.m. To learn more, visit online at friendsoftheyampa.com.
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FRISCO HISTORIC PARK & MUSEUM TO HOST POP-UP EVENTS THROUGHOUT THE SUMMER
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The Frisco Historic Park and Museum has announced it will be hosting a series of pop-up events throughout the summer. The pop-up events are a great opportunity for community members of all ages to enjoy fun experiences that combine both education and entertainment. Making a return this year will be the popular bird watching hike on Friday, May 30, and the Worldwide Knit in Public Day on June 14. At the end of the summer season on Sept. 7, Frisco’s poetry in the park event will make its debut. All of the pop-up events are free minus the bird watching hike to Rainbow Lake, which costs $10. More information about the Frisco Museum and all of its summer events can be found at FriscoHistoricPark.com.
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TAX RULES FOR LEGAL AWARDS AND SETTLEMENTS
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If you’ve received a legal settlement or award, it’s important to grasp the tax implications. While compensation for physical injuries is typically tax-free, awards for lost wages, emotional distress and punitive damages are usually taxable. Even if your attorney is paid directly from the settlement, you may be taxed on the full amount. The way a settlement is structured can significantly affect your tax liability and the rules can be confusing, so talk with a professional to help you understand your exposure and ensure proper reporting. For more information, visit the IRS info page for settlements and judgments, https://bit.ly/3ZDN7jI.
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CONSUMER CONFIDENCE FOR MAY WAS MUCH STRONGER THAN EXPECTED
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Consumer optimism got a much-needed boost in May on hopes for trade peace between the U.S. and China, according to a survey Tuesday. The Conference Board’s Consumer Confidence Index leapt to 98.0, a 12.3-point increase from April and much better than the Dow Jones consensus estimate of 86.0. Much of the positive sentiment, according to board officials, came from developments in the U.S.-China trade impasse, most notably President Donald Trump’s halting of the most severe tariffs on May 12. May’s rebound followed five straight months of declines.
Other board sentiment indicators also increased:
- The present situation index increased to 135.9, up 4.8 points, and the expectations index posted a major surge to 72.8, a 17.4-point gain.
- Investors also showed more optimism, with 44 percent now expecting stocks to be higher over the next 12 months, up 6.4 percentage points from April.
- Views on the labor market also improved, with 19.2 percent of respondents expecting more jobs to be available in the next six months, compared with 13.9 percent in April.
- At the same time, 26.6 percent expect fewer jobs, down from 32.4 percent.
- However, the level of respondents saying jobs were “plentiful” edged higher to just 31.8 percent, while those saying employment was “hard to get” increased to 18.6 percent, up 1.1 percentage points.
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MARKET UPDATE - 05/27/2025 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 05/22/2025)
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*Not FDIC insured. May lose value. Not guaranteed by the bank.
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Alpine Bank is an independent, employee-owned organization with headquarters in Glenwood Springs and banking offices across Colorado's Western Slope, mountains and Front Range. Alpine Bank serves customers with retail, business, wealth management*, mortgage and electronic banking services. Learn more at alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.
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