Official Budget. Fiscal Year 2011

Transcription

1 Official Budget Fiscal Year 2011 Adopted, December 10, 2010

2 Colorado Centree Metropolitan District 4770 Horizonview Drive, Colorado Springs, Colorado Telephone: ; Facsimile: Friday, December 10, 2010 Division of Local Government State of Colorado 1313 Sherman St., Room 521 Denver, CO Re: Fiscal Year 2011 Budget Transmittal Enclosed is the fiscal year 2011 budget for the Colorado Centre Metropolitan District located in El Paso County and submitted pursuant to Section 113 CRS. This budget was adopted on December 10, If there are any questions on the budget, please contact Al Testa at extension 17, or at al.testa@proconinc.net or at the address and telephone number above-imprinted. The mill levies certified to the County are mills for all taxable property within the District and 100 mills, additional tax, for all "Developer Owned Property". The revenue from 20 mills is governed by the District's 1992 Plan of Re- mills) organization (Case No. 89 B J - U.S. Bankruptcy Court) ). Two and three additional (total of five mills weree approved and exempted from TABOR in the November 1, 2005 election for Park and Fire Protection purposes, respectively. The general taxes of the District are imposed using the overall assessed valuation of the District of $13,513,490; while, the Developer Owned Property's assessed valuation of $818,410 is used to impose the 100 mill levy. Important features of the budget are as follows: (1) the District uses the Modified Accrual Basis of Accounting for its governmental and proprietary funds; (2) the District intends to provide the following services during fiscal year 2011: potable water, wastewater collection, trash collection, fire protection, park and landscape maintenance, subdivision regulation, limited drainage and flood control maintenance and general government liaison; (3) the District is in the process of including and servicing the area known as Cuchares Ranch, and (4) surplus revenues of the District at the end of each fiscal year are pledged to repay the non- G. O. bonds resulting from US Bankruptcy Case No. 89 B J. I hereby certify that these are true and accurate copies of the budget and certification of tax levies sent to the County Commissioners of El Paso County. Should you have any questions on this matter, please call. Thank you. Cordially yours, Colorado Centre Metropolitan District Alvaro J. Testa, Ph.D., P.E. District Manager Enclosure (Two copies of budget which include mill levy certifications) 2011-BUDGET-DLGTR.docx Page 1 of 1

3 FISCAL YEAR 2011 BUDGET SUMMARY AND NOTES

4 Date: 11/29/2010 COLORADO CENTRE METROPOLITAN DISTRICT 4770 HORIZONVIEW DRIVE, COLORADO SPRINGS, CO By: A. J. Testa, Ph.D., P.E. District Manager O F F I C I A L B U D G E T F O R C A L E N D A R Y E A R GOVERNMENTAL FUNDS DEBT SERVICE FUND G E N E R A L F U N D R E S E R V E F U N D 2009 Act Est Bdgt Ref Act Est Bdgt Ref Act Est Bdgt Ref. Beginning Balance: $0 $0 $0 $700,000 $525,323 $647,135 $0 $0 $0 Revenues: Property Taxes: $312,549 $323,768 $337,837 < A Specific Ownership Taxes: $38,531 $37,634 $37,200 < A1 Inter-Gov. Rev.: $34,068 $10,738 $6,000 < B Chrg. for Serv-St. Lghts.: $20,354 $23,310 $24,000 < C Chrg. for Serv-Ref. Disp.: $98,448 $99,904 $99,600 < D Chrg. For Serv. - First Resp.: $278,123 $269,820 Restricted Taxes $64,426 $70,880 $81,841 < N Miscellaneous: $238,712 $7,567 $5,100 < E $11,523 $6,895 $4,800 < E $0 $0 $1,000 < E Total Revenues: $742,662 $781,044 $779,557 $11,523 $6,895 $4,800 $64,426 $70,880 $82,841 Expenses: Administration: $51,780 $53,740 $59,163 < F $963 $1,089 $1,227 < F2 Public Safety: $202,230 $252,152 $310,056 < F1 Public Works: $21,122 $20,873 $21,420 < G Street Lights: $14,997 $17,300 $18,360 < H Refuse Disposal: $80,243 $87,853 $96,000 < I Culture & Recreation: $40,993 $35,162 $34,800 < J Capital Outlay: $91,782 $17,718 $10,000 < K Debt Service - Admin.: $2,664 $2,386 $2,400 < O Debt Service - Paymt.: $264,953 $264,954 $264,954 < P Miscellaneous: $35,361 $0 $0 $186,200 $0 $300,000 < M $0 $0 $1,000 Total Expenses: $538,508 $484,798 $549,799 $186,200 $0 $300,000 $268,580 $268,429 $269,581 Oth. Rev. Sources: Restrict. Transf. In: $0 $0 $0 < Q Transfers In: $218 $0 $0 < L $0 $114,917 $43,018 < L $204,154 $197,549 $186,740 < L Transfers Out: ($204,372) ($296,246) ($229,758) < L $0 $0 $0 < L $0 $0 $0 Total Other: ($204,154) ($296,246) ($229,758) $0 $114,917 $43,018 $204,154 $197,549 $186,740 Ending Balance: $0 $0 $0 $525,323 $647,135 $394,953 $0 $0 $0 TARGET RESERVE -> $725 K $750 K $775 K Assessed Valuation: $13,513,490 Reg. Mills: Developer Owned Assessed Val.: $818,410 Dev. Owned Mill Levy: Monthly Residential/COI First Responder Service Charge: $27.66/$ Monthly Residential Trash Removal Service Charge: $12.50 Monthly Residential/COI Street Light Service Charge: $2.20/$22.00 File: 2011-BUDGET.xlsx PAGE: 1 of 4

5 Date: 11/29/2010 COLORADO CENTRE METROPOLITAN DISTRICT 4770 HORIZONVIEW DRIVE, COLORADO SPRINGS, CO By: A. J. Testa, Ph.D., P.E. District Manager O F F I C I A L B U D G E T F O R C A L E N D A R Y E A R GOVERNMENTAL FUND ENTERPRISES IGA - LORSON IGA - ROLLING HILLS IGA - CUCHARES 2009 Act Est Bdgt Ref Act Est Bdgt Ref Act Est Bdgt Ref. Beginning Balance: $61,121 $62,527 $0 Revenues: Fees in Lieu of Taxes: Inter-Gov. Rev.: Chrg. for Serv-St. Lghts.: Chrg. for Serv-Ref. Disp.: Capital Contributions: Miscellaneous: $66,000 $66,000 Total Revenues: $66,000 $66,000 $0 Expenses: Administration: Public Safety: Public Works: Street Lights: Refuse Disposal: Culture & Recreation: Capital Outlay: Miscellaneous: $127,121 $128,527 Total Expenses: $127,121 $128,527 $0 Oth. Rev. Sources: Restrict. Transf. In: Transfers In/(Out): Total Other: $0 $0 Ending Balance: $0 $0 $0 FUNDS IN THIS PAGE ARE NO LONGER ACTIVE File: 2011-BUDGET.xlsx PAGE: 2 of 4

6 Date: 11/30/2010 COLORADO CENTRE METROPOLITAN DISTRICT 4770 HORIZONVIEW DRIVE, COLORADO SPRINGS, CO By: A. J. Testa, Ph.D., P.E. District Manager O F F I C I A L B U D G E T F O R C A L E N D A R Y E A R ENTERPRISE FUNDS WATER FUND - GENERAL WATER FUND - CAPITAL WASTEWATER FUND - GENERAL WASTEWATER FUND - CAPITAL 2009 Act Est Bdgt Ref Act Est Bdgt Ref Act Est Bdgt Ref Act Est Bdgt Ref. Beginning Balance: $0 $0 $0 $57,485 $926,582 $1,738,274 $0 $0 $0 $1,663,807 $1,717,590 $1,592,415 Revenues: User Charges or ASC: $186,252 $226,924 $237,300 < R < R $251,479 $238,619 $278,472 < R $146,114 $143,816 $150,168 < R Admin. Service Charges: $112,187 $117,194 $112,968 < S $110,640 $115,264 $112,968 < S Cap. Improv. Srvc. Chrgs: $29,316 $30,900 $31,836 < Y $125,916 $131,725 $136,416 < Y Tap Fees (Restricted): $0 $0 $0 < T $0 $0 $0 < T System Improv. Conn. Fees: $893,200 $956,873 $915,172 < Z $408,100 $927,268 $870,100 < Z Interest and Miscellaneous: $17,729 $25,470 $12,000 < E $11,032 $31,405 $2,400 < E $11,535 $6,206 $12,000 < E $31,698 $24,383 $2,902,400 < E Total Revenues: $316,168 $369,588 $362,268 $933,548 $1,019,178 $949,408 $373,654 $360,089 $403,440 $711,828 $1,227,192 $4,059,084 Expenses: Administration: $94,182 $97,757 $108,539 < F $94,181 $97,757 $108,539 < F Source of Supply: $0 $0 $0 Treatment: $150,213 $152,312 $168,000 < U Transm. & Dist.: $213,403 $252,011 $253,260 < V Collection & Transm.: $137,843 $113,620 $126,900 < V Capital Outlay: $64,451 $207,486 $100,000 < AA $649,173 $1,347,858 $5,223,000 < AA Debt Service: $0 $0 $0 $8,872 $4,509 $117,506 < BB Miscellaneous: $0 $0 $469 $0 $0 $1 Total Expenses: $307,585 $349,768 $362,268 $64,451 $207,486 $100,000 $382,237 $363,689 $403,440 $658,045 $1,352,367 $5,340,506 Oth. Rev. Sources: Restrict. Transf. Out $0 $0 $0 < W $0 $0 $0 < W Transfers In: $0 $0 $0 < X $0 $0 $0 < X $8,583 $3,600 $0 < X $0 $0 $0 < X Transfers Out: ($8,583) ($19,820) $0 < X $0 $0 $0 < X $0 $0 < X $0 $0 $0 < X Total Other: ($8,583) ($19,820) $0 $0 $0 $0 $8,583 $3,600 $0 $0 $0 $0 Ending Balance: $0 $0 $0 $926,582 $1,738,274 $2,587,682 $0 $0 $0 $1,717,590 $1,592,415 $310,993 RESIDENTIAL WATER RATES: COI RATES: RESIDENTIAL SEWER RATES: COI RATES: Cost in $ per Kgal:$2.35 to $12.00 $2.35 to $12.00 Cost in $ per Kgal: $6.25 $6.25 Min. Mo. Admin. Serv. Charge: $11.00 $70.00 Min. Mo. Admin. Serv. Charge: $11.00 $70.00 Min. Mo. Cap. Serv.Chg.: $3.00 $35.00 Min. Mo. Cap. Serv.Chg.: $13.00 $ Tap Fee per SFE: $5, /4" Tap size dep. Tap Fee per SFE: $5, eu E. U. Dep. Cap. Sys. Imp. Fee per SFE: $5, /4" Tap size dep. Cap. Sys. Imp. Fee per SFE: $5, eu E. U. Dep. File: 2011-BUDGET.xlsx PAGE: 3 of 4

7 Date: 11/29/2010 COLORADO CENTRE METROPOLITAN DISTRICT 4770 HORIZONVIEW DRIVE, COLORADO SPRINGS, CO By: A. J. Testa, Ph.D., P.E. District Manager O F F I C I A L B U D G E T F O R C A L E N D A R Y E A R Budget References: A 20 mills of Tax revenue governed by bankruptcy plan. Additional 5 mills approved at election in 2005 and exempted from TABOR. Current Year's assessed valuation is $13,513,490 Regular mill levy equals 20 Mills per Bankruptcy plan, 2 mills for parks, 3 mills for fire protection, or MILLS $337,837 A1 Estimated Specific Ownership Tax Revenue $37,200 B Estimated revenue from state lottery and various agencies grants for parks C Estimated revenue from street light services fees home/mo and 5 D Estimated revenue from trash service fees of $12.50/mo/acct. E Estimated interest and other miscellaneous revenue. F Estimated cost of general district administration (Allocated as follows: 20% General Fund, 40% Water General Fund and 40% Sewer General Fund). F1 Annual cost of operations for Fire Department. F2 Cost payable to EPC for collecting Restricted Taxes only (1.5%) G Estimated cost of maintaining drainage system, fire station, weed control, etc. H Estimated cost of leasing street lights from MVEA I Estimated cost to trash collection - Bestway Contract J Estimated cost to maintain the District's parks K Estimated capital expenditure's costs. Mostly for park improvements. L Inter-Fund transfers. - Normally between General and Reserve Funds to Debt Service Fund to help make required bondholder payments. M Emergency Expenses of the Reserve Fund. N Estimated Revenue from 100 mill assessment on "Developer Owned Property" as per bankruptcy plan. (El Paso County Tax codes 879, DB4, DB5, DB9, DCQ & $81,841 O Estimated cost of escrow agent for bonds (Bank of New York) P Estimated payment to bondholders from tap fees, regular mil levy, surplus cash and restricted 100 mil levy. Q Restricted transfers in from Water and Sewer funds collected from the sale of regular water and sewer taps. R Revenue from utility usage or availability of service charges S Monthly Administration Charges T Estimated restricted tap fee revenue from the sale of water/sewer regular taps U Cost of purchasing wastewater treatment services from outside suppliers (Fountain Sanitation District) V Direct and indirect costs of operating the water and wastewater systems. W Transfer of restricted funds to Debt Service Fund for disbursement to bondholders X Interfund transfer - Normally bewteen Enterprise Funds only Y Revenue from Monthly Capital Improvement Service Fees Z Revenue from one time System Improvement Fees AA Capital Improvement Projects for Water and Sewer Systems BB Debt payments on accumulated capital project financing Budget Message: 1) The District uses the Modified Accrual Budgetary Basis of Accounting for its governmental and proprietary funds. 2) The District intends to provide the following services during fiscal year 2011: potable water, wastewater collection, trash collection, fire protection, park and lanscaping maintenance, and general government liaison. 3) Certain surplus revenues of the District at the end of each fiscal year are pledged to repay the non-g.o. bonds resulting from US Bankruptcy Case No. 89 B J. File: 2011-BUDGET.xlsx PAGE: 4 of 4

8 RESOLUTION / RATES, CHARGES, FEES & PENALTIES FOR F.Y. 2011

9 RESOLUTION Rates, Charges, Fees and Penalties for Fiscal Year 2011 WHEREAS, the Colorado Centre Metropolitan District wishes to adopt a schedule of "Rates, Charges, Fees and Penalties" for fiscal year NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Colorado Centre Metropolitan District that the "Rates, Charges, Fees and Penalties" for the District as of January 1, 2011 shall be as follows: Rates, Charges, Fees and Penalties Colorado Centre Metropolitan District 2010 Assessed Valuation $13,513,490 All real and personal property 2010 Mill Levy mills Levied on ALL taxable property as defined in the plan of re-organization Mill Levy - Fire Protection mills Levied on ALL taxable property 2010 Mill Levy - Parks mills Levied on ALL taxable property 2010 Abate & Refund Mill Levy mills Levied on ALL taxable property 2010 Dev. Owned Assessed Val. $818,410 "Developer Owned Property" Only 2010 Restricted Levy mills Levied on "Developer Owned Property" only, as defined in the plan of re-organization. Drainage and Bridge Fee As per County or City of Colo Spgs El Paso County or Colorado Springs collecting this fee now. Development Fee $0.30 per s.f. Payable per square foot of gross commercial and industrial building area. Landscaping and Open Space Fee $100 per unit Payable per single family equivalent dwelling unit at time of building permit for the enhancement of ROW and open space/parks areas selected by the District. Plan Check Fee $150 per unit Payable per single or multiple family dwelling unit at time of preliminary plat approval by the District. The charge will be repeated for the final plat, unless final platting is completed within 180 days of the preliminary plat, regardless of reason for delay. $1,000 per ac. Payable per gross acre of commercial and industrial property at time of preliminary plat approval by the District. The charge will be repeated for the final plat, unless final platting is completed within 180 days of the preliminary plat, regardless of reason for delay. Inspection Fee $150 per unit Payable per single or multiple family dwelling unit at time of water and sewer tap purchase. The charge will be re-assessed, unless construction is completed within 360 days of the original building permit, regardless of reason for delay. $1,000 per acre Payable per gross acre of commercial and industrial property at time of water and sewer tap purchase. The charge will be re-assessed, unless construction is completed within 360 days of the original building permit, regardless of reason for delay. Page 1 of 6.

10 WATER AND WASTEWATER TAP FEES ARE PAYABLE TO THE DISTRICT AT THE TIME OF FINAL PLAT APPROVAL BY THE DISTRICT. Water Tap or Connection Fee Wastewater Tap or Connection Fee Water and Wastewater tap fees paid shall be good for 12 months from the date they are sold. After said time the taps are lost and their cost is forfeited to the District, unless the Board approves an extension of the taps for up to another period of 12 months. $5,854 Per :" water tap. $7,580 Per 1" water tap. $10,610 Per 12" water tap. $13,645 Per 2" water tap. $27,287 Per 3" water tap. $45,479 Per 4" water tap. $106,116 Per 6" water tap. $5,854 Per multi-family dwelling unit served by one tap per building. $5,854 Per single family dwelling unit $5,854 Per each Commercial / Industrial tap per each fifteen (15) fixture unit equivalents as set out in Appendix A. WATER AND WASTEWATER SYSTEM IMPROVEMENT FEES ARE PAYABLE TO THE DISTRICT AT THE TIME OF FINAL PLAT APPROVAL BY THE DISTRICT. Water and Wastewater system improvement fees paid shall be good for 12 months from the date they are sold. After said time fees are lost and forfeited to the District, unless the Board approves an extension of the taps for up to another period of 12 months. Water System Improvement Fee Varies Pay equal amount as for a Water Tap Fee. Add on Water System Improvement Additional Fee per SFE connection to allow users use of Fee for Cuchares $1,252 water over the 0.25 ac-ft/yr restriction up to 0.35 ac-ft/yr. Applies only to Cuchares Ranch inclusion area. Sewer System Improvement Fee Varies Pay equal amount as for a Wastewater Tap Fee. Permanent Off-site Water and Sewer System Improvement Fee/ IGA Interim Water and Sewer System Improvement Fees / IGA WATER, WASTEWATER, AND STREET LIGHTS USER CHARGES AND EMERGENCY FIRST RESPONDER FEES RESIDENTIAL (CCMD 0.35 ac-ft/yr/sfe) Double that of In-District, if approved by Board Negotiated Pay double the amount of a regular tap and system improvement fees and credit in full to the System Improvement Fee account. Interim Connections may be allowed after paying a connection service fee recommended by the District Manager and approved by the Board of Directors in each specific instance Water $11.00 Per month - Administrative Service charge. $3.00 Per month - Capital Improvement Service charge. $2.35 Per thousand (1000) gallons - Use charge up to 10 kgal/mo. $2.65 Per thousand (1000) gallons - After 10 up to 15 kgal/mo. $3.20 Per thousand (1000) gallons - After 15 up to 20 kgal/mo. $5.30 Per thousand (1000) gallons - After 20 up to 30 kgal/mo $12.00 Per thousand (1000) gallons - After 30 kgal/mo $14.00 Minimum monthly charge per tap sold, lot or account. Wastewater $11.00 Per month - Administrative Service charge. $13.00 Per month - Capital Improvement Service charge. $6.25 Per thousand (1000) gallons - Use charge. Based on the average monthly water consumption during the months of December and January, and a standard BOD (250 ppm) and TSS (300 ppm) maximum loading. $24.00 Minimum monthly charge per tap sold, lot or account. Street Lights $2.20 Per month service charge per account. Page 2 of 6.

11 Emergency First Responder $27.66 Monthly Fees per account RESIDENTIAL (Cuchares 0.25 ac-ft/yr/sfe IF NO SUPPLEMENTAL WATER CONNECTION IS PURCHASED) Water $11.00 Per month - Administrative Service charge. $3.00 Per month - Capital Improvement Service charge. $2.35 Per thousand (1000) gallons - Use charge up to 7 kgal/mo. $2.65 Per thousand (1000) gallons - After 7 up to 11 kgal/mo. $3.20 Per thousand (1000) gallons - After 11 up to 14 kgal/mo. $5.30 Per thousand (1000) gallons - After 14 up to 21 kgal/mo $12.00 Per thousand (1000) gallons - After 21 kgal/mo $14.00 Minimum monthly charge per tap sold, lot or account. Wastewater $11.00 Per month - Administrative Service charge. $13.00 Per month - Capital Improvement Service charge. $6.25 Per thousand (1000) gallons - Use charge. Based on the average monthly water consumption during the months of December and January, and a standard BOD (250 ppm) and TSS (300 ppm) maximum loading. $24.00 Minimum monthly charge per tap sold, lot or account Street Lights $2.20 Per month service charge per account COMMERCIAL / OFFICE / INDUSTRIAL Water charges $70.00 Per month Administrative Service charge per tap. $35.00 Per month - Capital Improvement Service charge per account $2.35 Per thousand (1000) gallons - Use charge up to 20 kgal/mo. $2.65 Per thousand (1000) gallons - After 20 up to 30 kgal/mo. $3.20 Per thousand (1000) gallons - After 30 up to 40 kgal/mo. $5.30 Per thousand (1000) gallons - After 40 up to 60 kgal/mo. $12.00 Per thousand (1000) gallons - After 60 kgal/mo. $ Minimum monthly charge per tap sold, lot or account. Wastewater charges $70.00 Per month Administrative Service charge per account $ Per month - Capital Improvement Service charge per account $6.25 Per thousand (1000) gallons - Use charge. Based on the average monthly water consumption during the months of Dec & Jan or actual metered usage minus metered irrigation flows. $0.90 Per pound of BOD5 level above 200 ppm. Based on monthly average or actual metered flow and strength. $0.50 Per pound of TSS level above 250 ppm. Based on monthly average or actual metered flow and strength. $ Minimum monthly charge per tap sold, lot or account. Testing Charge 1.15 x Cost For sampling the industrial wastewater effluent. Street Light charge $22.00 Per month - Service charge per account Emergency First Responder $ Monthly Fees per COI account Availability of Service Charge. For LFMSDD Regional Sewer Plant and Interceptor Project. 50% of user rate 25% of user rate Page 3 of 6. Per Month for each SFE, if land is platted and within 100' of main line. Per month for each SFE, if land is not platted but within 100' of main line. Automatic Meter Readers (AMR) $250 ea Per ¾ connection. Higher for larger meters. Leased FMIC water Construction or Off-site Water charges $150 Per acre-foot at the headgate of FMIC before consumptive loss factors are applied, or as negotiated by the District Manager in each case. $15.00 Per thousand (1000) gallons or fraction thereof of metered water - Use charge. $6.00 Per day meter rental.

12 $1, Refundable security deposit for meter. Street Cleaning Water charge (El Paso County Only) $2.50 Per thousand (1000) gallons - Use charge. Water re-connect charges $30.00 Each time. ($60 after hours and on weekends) Returned check charge $32.00 Surcharge per returned check, each time, plus costs. Customer's refundable deposit $ Minimum per residential account. To be held for a minimum period of twelve (12) months from the date services are first provided or the date of the last delinquency in the payments to the District, whichever occurs last. May be imposed after a late payment event or as allowed by the regulations. $ Per commercial or industrial account. To be held for a minimum period of twelve (12) months from the date services are first provided or the date of the last delinquency in the payments to the District, whichever occurs last. May be re-required after a late payment event. Administrative / Field Personnel $50.00 Per hour of engagement District Manager $ Per hour of engagement District Attorney $ Per hour of engagement Copies $0.25 Per 8.5" x 11" or 8.5" x 14" $0.75 Per 11" x 17" $5.00 Per 24" x 36" blueline $0.10 Per Self-serve 8.5" x 11" or 8.5" x 14" Fax $2.00 Per page of outgoing fax in the USA Mileage $0.75 Per mile Materials and Supplies Cost x 1.15 A 15% surcharge will be applied to all costs incurred by the District in the performance of work for individual users of the District. Bacteriological Test Charge $40.00 Per sample requested (Coliform Test only) Lead/Copper Test Charge $50.00 Per sample or actual cost to District, whichever is higher. Interest on Deposits 0% A.P.R. Customer should request deposit after one year of continuous service with a good-standing account. Residential Refuse Disposal $12.50 Per month for a 90 gal container or equivalent, nonhazardous, curb-side, weekly trash removal. Prorateable for partial months. Lost Water Charge $1.26 Per kgal of lost water due to no fault and control of customer, especially between the main and the meter. This reduced charge can only be used by the District Manager if upon his review of a particular situation and in his sole discretion the reduction in charges has merit.. Excess Sewer Charge $4.50 Per kgal of excess sewer due to no fault and control of customer. Must be related to a Lost water charge. This reduced charge can only be used by the District Manager if upon his review of a particular situation and in his sole discretion the reduction in charges has merit. ILLEGAL TAMPERING WITH WATER AND/OR SEWER SYSTEMS, DAMAGE TO DISTRICT PROPERTY, SUCH AS PARKS, LANDSCAPING, FIRE STATION, ETC. $1,000+ Plus legal, collection, repair, restoration, personnel, consultant and other related costs and expenses. Prosecution may be pursued as well. REWARD Up to $1,000 For reporting and providing evidence that leads to a conviction of a person or entity that breaks, damages, steals, defaces and, generally, acts against district assets and property. Page 4 of 6.

13

14 Appendix A FIXTURE UNIT EQUIVALENTS Fixture unit equivalents shall be calculated using the following schedule and shall apply to "stubbed in" or "roughed in" fixture traps as well as those fixtures being installed. Trap and Trap arm Unit Kind of Fixture Size Equivalents Bathtubs 12" 2 Bidets 12" 2 Dental units or cuspidors 13" 1 Drinking Fountains 13" 1 Floor drains 2" 2 Interceptors for grease, oil, solids, etc. 2" 3 Interceptors for sand, auto wash, etc. 3" 6 Laundry tubs 12" 2 Clothes washers 12" 2 Receptors (floor sinks), indirect waste, refrigerators, coffee urns, water stations, etc. 12" 1 Receptors for commercial sinks, dishwashers, air washers 2" 3 Showers, single stalls 2" 2 Showers, gang (per shower head) 2" 1 Sinks, bar, private 12 1 Sinks, bar, commercial 12" 2 Sinks, commercial, industrial, schools 12" 3 Sinks, flush rim, clinic 3" 6 Sinks, double 12" 2 Dishwashers 12" 2 Sinks, service 2" 3 Urinals, pedestal 3" 6 Urinals, stall 2" 2 Urinals, through 12" 3 Wash basins (lavatories), single 13" 1 Wash basins, in sets 12" 2 Water closet, tank type 3" 4 Water closet, flush valve type 3" 6 The unit equivalents of plumbing fixtures not listed above shall be used based on the following schedule: 13" 1 12" 3 2" 4 3" 6 4" 8 5" 10 6" 12 Page 6 of 6.

15 RESOLUTION / BUDGET FOR FISCAL YEAR 2011

16 Resolution RESOLUTION Budget for Fiscal Year 2011 A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND AND ADOPTING A BUDGET FOR THE COLORADO CENTRE METROPOLITAN DISTRICT (District), COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2011 AND ENDING ON THE LAST DAY OF DECEMBER, WHEREAS, the Board of Directors of the District directed the District Manager to prepare and submit a proposed budget to this governing body by October 15, 2010; and, WHEREAS, the District Manager submitted the attached budget to this governing body on September 23, 2010 for its review and consideration; and, WHEREAS, upon due and proper notice, posted in accordance with the law, said proposed budget was open for inspection by the public at the District=s office; and, WHEREAS, upon due and proper notice, posted and/or published in accordance with the law, said proposed budget was subject to a public hearing on October 28 and November 18, 2010, and interested taxpayers were given the opportunity to file any objections to the proposed budget; and, WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the budget remains in balance, as required by law. NOW THEREFORE, BE IT RESOLVED BY the Board of Directors of the Colorado Centre Metropolitan District, Colorado: Section 1. That the estimated expenditures and transfers-out for fiscal year 2010 for each fund are as follows: Governmental Funds: General $779,557 Reserve $300,000 Debt Service $269,581 Proprietary Funds: Water - Operations $362,268 Water - Capital $100,000 Wastewater - Operations $403,440 Wastewater - Capital $5,340,560 Total of all expenditures and transfers-out: $7,555,406 Page 1 of 3.

17 Resolution Section 2.That the estimated revenues and transfers-in for each fund are as follows: General Fund: From un-appropriated surpluses $0 From source other than general property tax $441,720 From General property tax levy $337,837 Total General Fund $779,557 Reserve Fund: From un-appropriated surpluses $647,135 From source other than general tax $47,818 From General property tax levy $0 Total Reserve Fund $694,953 Debt Service Fund: From un-appropriated surpluses $0 From source other than general tax $187,740 From Special property tax levy $81,841 Total Reserve Fund $269,581 Water Fund - Operations: From un-appropriated surpluses $0 From source other than general tax $362,268 From General property tax levy $0 Total Water Fund - General $362,268 Water Fund - Capital: From un-appropriated surpluses $1,738,274 From source other than general tax $949,408 From General property tax levy $0 Total Water Fund - Capital $2,687,682 Wastewater Fund - Operations: From un-appropriated surpluses $0 From source other than general tax $403,440 From General property tax levy $0 Total Wastewater Fund - General $403,440 Wastewater Fund - Capital: From un-appropriated surpluses $1,592,415 From source other than general tax $4,059,084 From General property tax levy $0 Total Wastewater Fund - Capital $5,651,499 Total of all revenues: $10,848,980 Page 2 of 3.

18

19 Date: 11/29/2010 COLORADO CENTRE METROPOLITAN DISTRICT 4770 HORIZONVIEW DRIVE, COLORADO SPRINGS, CO By: A. J. Testa, Ph.D., P.E. District Manager O F F I C I A L B U D G E T F O R C A L E N D A R Y E A R GOVERNMENTAL FUNDS DEBT SERVICE FUND G E N E R A L F U N D R E S E R V E F U N D 2009 Act Est Bdgt Ref Act Est Bdgt Ref Act Est Bdgt Ref. Beginning Balance: $0 $0 $0 $700,000 $525,323 $647,135 $0 $0 $0 Revenues: Property Taxes: $312,549 $323,768 $337,837 < A Specific Ownership Taxes: $38,531 $37,634 $37,200 < A1 Inter-Gov. Rev.: $34,068 $10,738 $6,000 < B Chrg. for Serv-St. Lghts.: $20,354 $23,310 $24,000 < C Chrg. for Serv-Ref. Disp.: $98,448 $99,904 $99,600 < D Chrg. For Serv. - First Resp.: $278,123 $269,820 Restricted Taxes $64,426 $70,880 $81,841 < N Miscellaneous: $238,712 $7,567 $5,100 < E $11,523 $6,895 $4,800 < E $0 $0 $1,000 < E Total Revenues: $742,662 $781,044 $779,557 $11,523 $6,895 $4,800 $64,426 $70,880 $82,841 Expenses: Administration: $51,780 $53,740 $59,163 < F $963 $1,089 $1,227 < F2 Public Safety: $202,230 $252,152 $310,056 < F1 Public Works: $21,122 $20,873 $21,420 < G Street Lights: $14,997 $17,300 $18,360 < H Refuse Disposal: $80,243 $87,853 $96,000 < I Culture & Recreation: $40,993 $35,162 $34,800 < J Capital Outlay: $91,782 $17,718 $10,000 < K Debt Service - Admin.: $2,664 $2,386 $2,400 < O Debt Service - Paymt.: $264,953 $264,954 $264,954 < P Miscellaneous: $35,361 $0 $0 $186,200 $0 $300,000 < M $0 $0 $1,000 Total Expenses: $538,508 $484,798 $549,799 $186,200 $0 $300,000 $268,580 $268,429 $269,581 Oth. Rev. Sources: Restrict. Transf. In: $0 $0 $0 < Q Transfers In: $218 $0 $0 < L $0 $114,917 $43,018 < L $204,154 $197,549 $186,740 < L Transfers Out: ($204,372) ($296,246) ($229,758) < L $0 $0 $0 < L $0 $0 $0 Total Other: ($204,154) ($296,246) ($229,758) $0 $114,917 $43,018 $204,154 $197,549 $186,740 Ending Balance: $0 $0 $0 $525,323 $647,135 $394,953 $0 $0 $0 TARGET RESERVE -> $725 K $750 K $775 K Assessed Valuation: $13,513,490 Reg. Mills: Developer Owned Assessed Val.: $818,410 Dev. Owned Mill Levy: Monthly Residential/COI First Responder Service Charge: $27.66/$ Monthly Residential Trash Removal Service Charge: $12.50 Monthly Residential/COI Street Light Service Charge: $2.20/$22.00 File: 2011-BUDGET.xlsx PAGE: 1 of 4

20 Date: 11/29/2010 COLORADO CENTRE METROPOLITAN DISTRICT 4770 HORIZONVIEW DRIVE, COLORADO SPRINGS, CO By: A. J. Testa, Ph.D., P.E. District Manager O F F I C I A L B U D G E T F O R C A L E N D A R Y E A R GOVERNMENTAL FUND ENTERPRISES IGA - LORSON IGA - ROLLING HILLS IGA - CUCHARES 2009 Act Est Bdgt Ref Act Est Bdgt Ref Act Est Bdgt Ref. Beginning Balance: $61,121 $62,527 $0 Revenues: Fees in Lieu of Taxes: Inter-Gov. Rev.: Chrg. for Serv-St. Lghts.: Chrg. for Serv-Ref. Disp.: Capital Contributions: Miscellaneous: $66,000 $66,000 Total Revenues: $66,000 $66,000 $0 Expenses: Administration: Public Safety: Public Works: Street Lights: Refuse Disposal: Culture & Recreation: Capital Outlay: Miscellaneous: $127,121 $128,527 Total Expenses: $127,121 $128,527 $0 Oth. Rev. Sources: Restrict. Transf. In: Transfers In/(Out): Total Other: $0 $0 Ending Balance: $0 $0 $0 FUNDS IN THIS PAGE ARE NO LONGER ACTIVE File: 2011-BUDGET.xlsx PAGE: 2 of 4

21 Date: 11/30/2010 COLORADO CENTRE METROPOLITAN DISTRICT 4770 HORIZONVIEW DRIVE, COLORADO SPRINGS, CO By: A. J. Testa, Ph.D., P.E. District Manager O F F I C I A L B U D G E T F O R C A L E N D A R Y E A R ENTERPRISE FUNDS WATER FUND - GENERAL WATER FUND - CAPITAL WASTEWATER FUND - GENERAL WASTEWATER FUND - CAPITAL 2009 Act Est Bdgt Ref Act Est Bdgt Ref Act Est Bdgt Ref Act Est Bdgt Ref. Beginning Balance: $0 $0 $0 $57,485 $926,582 $1,738,274 $0 $0 $0 $1,663,807 $1,717,590 $1,592,415 Revenues: User Charges or ASC: $186,252 $226,924 $237,300 < R < R $251,479 $238,619 $278,472 < R $146,114 $143,816 $150,168 < R Admin. Service Charges: $112,187 $117,194 $112,968 < S $110,640 $115,264 $112,968 < S Cap. Improv. Srvc. Chrgs: $29,316 $30,900 $31,836 < Y $125,916 $131,725 $136,416 < Y Tap Fees (Restricted): $0 $0 $0 < T $0 $0 $0 < T System Improv. Conn. Fees: $893,200 $956,873 $915,172 < Z $408,100 $927,268 $870,100 < Z Interest and Miscellaneous: $17,729 $25,470 $12,000 < E $11,032 $31,405 $2,400 < E $11,535 $6,206 $12,000 < E $31,698 $24,383 $2,902,400 < E Total Revenues: $316,168 $369,588 $362,268 $933,548 $1,019,178 $949,408 $373,654 $360,089 $403,440 $711,828 $1,227,192 $4,059,084 Expenses: Administration: $94,182 $97,757 $108,539 < F $94,181 $97,757 $108,539 < F Source of Supply: $0 $0 $0 Treatment: $150,213 $152,312 $168,000 < U Transm. & Dist.: $213,403 $252,011 $253,260 < V Collection & Transm.: $137,843 $113,620 $126,900 < V Capital Outlay: $64,451 $207,486 $100,000 < AA $649,173 $1,347,858 $5,223,000 < AA Debt Service: $0 $0 $0 $8,872 $4,509 $117,506 < BB Miscellaneous: $0 $0 $469 $0 $0 $1 Total Expenses: $307,585 $349,768 $362,268 $64,451 $207,486 $100,000 $382,237 $363,689 $403,440 $658,045 $1,352,367 $5,340,506 Oth. Rev. Sources: Restrict. Transf. Out $0 $0 $0 < W $0 $0 $0 < W Transfers In: $0 $0 $0 < X $0 $0 $0 < X $8,583 $3,600 $0 < X $0 $0 $0 < X Transfers Out: ($8,583) ($19,820) $0 < X $0 $0 $0 < X $0 $0 < X $0 $0 $0 < X Total Other: ($8,583) ($19,820) $0 $0 $0 $0 $8,583 $3,600 $0 $0 $0 $0 Ending Balance: $0 $0 $0 $926,582 $1,738,274 $2,587,682 $0 $0 $0 $1,717,590 $1,592,415 $310,993 RESIDENTIAL WATER RATES: COI RATES: RESIDENTIAL SEWER RATES: COI RATES: Cost in $ per Kgal:$2.35 to $12.00 $2.35 to $12.00 Cost in $ per Kgal: $6.25 $6.25 Min. Mo. Admin. Serv. Charge: $11.00 $70.00 Min. Mo. Admin. Serv. Charge: $11.00 $70.00 Min. Mo. Cap. Serv.Chg.: $3.00 $35.00 Min. Mo. Cap. Serv.Chg.: $13.00 $ Tap Fee per SFE: $5, /4" Tap size dep. Tap Fee per SFE: $5, eu E. U. Dep. Cap. Sys. Imp. Fee per SFE: $5, /4" Tap size dep. Cap. Sys. Imp. Fee per SFE: $5, eu E. U. Dep. File: 2011-BUDGET.xlsx PAGE: 3 of 4

22 Date: 11/29/2010 COLORADO CENTRE METROPOLITAN DISTRICT 4770 HORIZONVIEW DRIVE, COLORADO SPRINGS, CO By: A. J. Testa, Ph.D., P.E. District Manager O F F I C I A L B U D G E T F O R C A L E N D A R Y E A R Budget References: A 20 mills of Tax revenue governed by bankruptcy plan. Additional 5 mills approved at election in 2005 and exempted from TABOR. Current Year's assessed valuation is $13,513,490 Regular mill levy equals 20 Mills per Bankruptcy plan, 2 mills for parks, 3 mills for fire protection, or MILLS $337,837 A1 Estimated Specific Ownership Tax Revenue $37,200 B Estimated revenue from state lottery and various agencies grants for parks C Estimated revenue from street light services fees home/mo and 5 D Estimated revenue from trash service fees of $12.50/mo/acct. E Estimated interest and other miscellaneous revenue. F Estimated cost of general district administration (Allocated as follows: 20% General Fund, 40% Water General Fund and 40% Sewer General Fund). F1 Annual cost of operations for Fire Department. F2 Cost payable to EPC for collecting Restricted Taxes only (1.5%) G Estimated cost of maintaining drainage system, fire station, weed control, etc. H Estimated cost of leasing street lights from MVEA I Estimated cost to trash collection - Bestway Contract J Estimated cost to maintain the District's parks K Estimated capital expenditure's costs. Mostly for park improvements. L Inter-Fund transfers. - Normally between General and Reserve Funds to Debt Service Fund to help make required bondholder payments. M Emergency Expenses of the Reserve Fund. N Estimated Revenue from 100 mill assessment on "Developer Owned Property" as per bankruptcy plan. (El Paso County Tax codes 879, DB4, DB5, DB9, DCQ & $81,841 O Estimated cost of escrow agent for bonds (Bank of New York) P Estimated payment to bondholders from tap fees, regular mil levy, surplus cash and restricted 100 mil levy. Q Restricted transfers in from Water and Sewer funds collected from the sale of regular water and sewer taps. R Revenue from utility usage or availability of service charges S Monthly Administration Charges T Estimated restricted tap fee revenue from the sale of water/sewer regular taps U Cost of purchasing wastewater treatment services from outside suppliers (Fountain Sanitation District) V Direct and indirect costs of operating the water and wastewater systems. W Transfer of restricted funds to Debt Service Fund for disbursement to bondholders X Interfund transfer - Normally bewteen Enterprise Funds only Y Revenue from Monthly Capital Improvement Service Fees Z Revenue from one time System Improvement Fees AA Capital Improvement Projects for Water and Sewer Systems BB Debt payments on accumulated capital project financing Budget Message: 1) The District uses the Modified Accrual Budgetary Basis of Accounting for its governmental and proprietary funds. 2) The District intends to provide the following services during fiscal year 2011: potable water, wastewater collection, trash collection, fire protection, park and lanscaping maintenance, and general government liaison. 3) Certain surplus revenues of the District at the end of each fiscal year are pledged to repay the non-g.o. bonds resulting from US Bankruptcy Case No. 89 B J. File: 2011-BUDGET.xlsx PAGE: 4 of 4

23 Date: 11/30/2010 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Colorado Centre Metropolitan District GOVERNMENTAL FUNDS - GENERAL PROPERTY TAX REVENUE: $337,837 Assessed Valuation: $13,513,490 $0 Reg. Mills: JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fiscal Year Description Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Revenues: Property Taxes: $337,837 $337,837 Specific Ownership Taxes: $3,100 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100 $3,100 $37,200 Inter-Gov. Rev.: $1,500 $1,500 $1,500 $1,500 $6,000 Charges for Serv - Street Lights: $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $24,000 Chrg. for Serv-Ref. Disp.: $8,300 $8,300 $8,300 $8,300 $8,300 $8,300 $8,300 $8,300 $8,300 $8,300 $8,300 $8,300 $99,600 Charges for Serv.- First Resp.: $22,485 $22,485 $22,485 $22,485 $22,485 $22,485 $22,485 $22,485 $22,485 $22,485 $22,485 $22,485 $269,820 Miscellaneous: $425 $425 $425 $425 $425 $425 $425 $425 $425 $425 $425 $425 $5,100 Interest: $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $300 Other: $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800 Total Revenues: $374,147 $36,310 $37,810 $36,310 $36,310 $37,810 $36,310 $36,310 $37,810 $36,310 $36,310 $37,810 $779,557 Expenses: Administration: $9,630 $4,503 $4,503 $4,503 $4,503 $4,503 $4,503 $4,503 $4,503 $4,503 $4,503 $4,503 $59,163 Accounting: $320 $320 $320 $320 $320 $320 $320 $320 $320 $320 $320 $320 $3,840 Advertising: $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $35 $420 Automobile: $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $72 Bank Charges: $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $1,500 Consulting Fees: $27 $27 $27 $27 $27 $27 $27 $27 $27 $27 $27 $27 $324 Contract Labor: $55 $55 $55 $55 $55 $55 $55 $55 $55 $55 $55 $55 $660 Director's Fees: $116 $116 $116 $116 $116 $116 $116 $116 $116 $116 $116 $116 $1,392 Dues & Subscriptions: $3 $3 $3 $3 $3 $3 $3 $3 $3 $3 $3 $3 $36 Elections: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fees & Licenses: $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $132 Insurance: $320 $320 $320 $320 $320 $320 $320 $320 $320 $320 $320 $320 $3,840 Interest: $0 Legal: $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800 Meals & Entertainment: $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $840 Office Equipment Rental: $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $240 Office Repair & Maint.: $105 $105 $105 $105 $105 $105 $105 $105 $105 $105 $105 $105 $1,260 Office Supplies: $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $2,100 Office Utilities: $195 $195 $195 $195 $195 $195 $195 $195 $195 $195 $195 $195 $2,340 Postage & Shipping: $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $1,800 Prints & Maps: $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $120 Salaries & Taxes: $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 $2,300 $27,600 Telephone: $120 $60 $60 $60 $60 $60 $60 $60 $60 $60 $60 $60 $780 Treasurer's Fee $5,067 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,067 Public Safety: $25,838 $25,838 $25,838 $25,838 $25,838 $25,838 $25,838 $25,838 $25,838 $25,838 $25,838 $25,838 $310,056 Public Works: $1,785 $1,785 $1,785 $1,785 $1,785 $1,785 $1,785 $1,785 $1,785 $1,785 $1,785 $1,785 $21,420 Street Lights: $1,530 $1,530 $1,530 $1,530 $1,530 $1,530 $1,530 $1,530 $1,530 $1,530 $1,530 $1,530 $18,360 Refuse Disposal: $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $96,000 Culture & Recreation: $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $2,900 $34,800 Capital Outlay: $10,000 $10,000 Miscellaneous: $0 Total Expenses: $49,683 $44,556 $44,556 $44,556 $44,556 $44,556 $44,556 $44,556 $44,556 $44,556 $44,556 $54,556 $549,799 Oth. Financ'g Sources: Restricted Transfers In: $0 Transfers In: $0 Transfers Out: ($229,758) ($229,758) Total Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 ($229,758) ($229,758) Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

24 Date: 11/30/2010 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Colorado Centre Metropolitan District GOVERNMENTAL FUNDS - RESERVE JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fiscal Year Description Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Revenues: Property Taxes: $0 Specific Ownership Taxes: $0 Inter-Gov. Rev.: $0 Charges for Serv - Street Lights: $0 Chrg. for Serv-Ref. Disp.: $0 Chrg. For Serv. - First Resp.: Miscellaneous: $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800 Interest: $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800 Other: $0 Total Revenues: $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800 Expenses: General Government: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Accounting: $0 Advertising: $0 Automobile: $0 Bank Charges: $0 Consulting Fees: $0 Contract Labor: $0 Director's Fees: $0 Dues & Subscriptions: $0 Fees & Licenses: $0 Insurance: $0 Interest: $0 Legal: $0 Meals & Entertainment: $0 Office Equipment Rental: $0 Office Repair & Maint.: $0 Office Supplies: $0 Office Utilities: $0 Postage & Shipping: $0 Prints & Maps: $0 Salaries & Taxes: $0 Telephone: $0 Treasurer's Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Public Safety: $0 Public Works: $0 Culture & Recreation: $0 Capital Outlay: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Debt Service - Admin.: $0 Debt Service - Paymnt: $0 Miscellaneous: $300,000 $300,000 Total Expenses: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $300,000 $300,000 Oth. Financ'g Sources: $0 Transfers In: $43,018 $43,018 Transfers Out: $0 Total Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $43,018 $43,018 Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

25 Date: 11/30/2010 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Colorado Centre Metropolitan District DEBT SERVICE FUND Tax Revenue: $81,841 Developer Owned Assessed Val.: $818,410 Dev. Owned Mill Levy: JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fiscal Year Description Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Revenues: Property Taxes: $0 Specific Ownership Taxes: $0 Inter-Gov. Rev.: $0 Charges for Serv - Street Lights: $0 Chrg. for Serv-Ref. Disp.: $0 Chrg. For Serv. - First Resp.: $0 Restricted Taxes: $81,841 $81,841 Miscellaneous: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,000 $1,000 Interest: $0 Other: $1,000 $1,000 Total Revenues: $81,841 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,000 $82,841 Expenses: Administration: $1,227 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,227 Accounting: $0 Advertising: $0 Automobile: $0 Bank Charges: $0 Consulting Fees: $0 Contract Labor: $0 Director's Fees: $0 Dues & Subscriptions: $0 Elections: $0 Fees & Licenses: $0 Insurance: $0 Legal: $0 Meals & Entertainment: $0 Office Equipment Rental: $0 Office Repair & Maint.: $0 Office Supplies: $0 Office Utilities: $0 Postage & Shipping: $0 Prints & Maps: $0 Salaries & Taxes: $0 Telephone: $0 Treasurer's Fee $1,227 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,227 Public Safety: $0 Public Works: $0 Street LightS: $0 Refuse Disposal: $0 Culture & Recreation: $0 Capital Outlay: $0 Debt Service - Admin.: $1,200 $1,200 $2,400 Debt Service - Paymnt: $132,477 $132,477 $264,954 Miscellaneous: $1,000 $1,000 Total Expenses: $1,227 $0 $0 $0 $0 $133,677 $0 $0 $0 $0 $0 $134,677 $269,581 Oth. Financ'g Sources: Restricted Transfers In: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Transfers In: $186,740 $186,740 Transfers Out: $0 Total Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

26 Date: 11/30/2010 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Colorado Centre Metropolitan District PROPRIETARY FUNDS - WATER OPERATIONS Cost in $ per Kgal: $2.35 to $12.00 Min. Mo. Admin. Serv. Charge: $ Mo. Admin. Serv. Charge (COI): $70.00 Tap Fee per SFE: $5, JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fiscal Year Description Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Revenues: Use Charge: $19,775 $19,775 $19,775 $19,775 $19,775 $19,775 $19,775 $19,775 $19,775 $19,775 $19,775 $19,775 $237,300 Administrative Service Charge: $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $112,968 ital Improvement Service Charge: $0 Restricted Tap Fees: $0 Capital Improvement Fee: $0 Miscellaneous: $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 Total Revenues: $30,189 $30,189 $30,189 $30,189 $30,189 $30,189 $30,189 $30,189 $30,189 $30,189 $30,189 $30,189 $362,268 Expenses: Administration: $9,050 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $108,539 Accounting: $560 $560 $560 $560 $560 $560 $560 $560 $560 $560 $560 $560 $6,720 Advertising: $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $840 Automobile: $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $126 Bank Charges: $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $3,000 Consulting Fees: $54 $54 $54 $54 $54 $54 $54 $54 $54 $54 $54 $54 $648 Contract Labor: $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $1,320 Director's Fees: $232 $232 $232 $232 $232 $232 $232 $232 $232 $232 $232 $232 $2,784 Dues & Subscriptions: $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $72 Elections: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fees & Licenses: $22 $22 $22 $22 $22 $22 $22 $22 $22 $22 $22 $22 $264 Insurance: $640 $640 $640 $640 $640 $640 $640 $640 $640 $640 $640 $640 $7,680 Interest: $5 $5 Legal: $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $9,600 Meals & Entertainment: $140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $1,680 Office Equipment Rental: $40 $40 $40 $40 $40 $40 $40 $40 $40 $40 $40 $40 $480 Office Repair & Maint.: $210 $210 $210 $210 $210 $210 $210 $210 $210 $210 $210 $210 $2,520 Office Supplies: $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $4,200 Office Utilities: $390 $390 $390 $390 $390 $390 $390 $390 $390 $390 $390 $390 $4,680 Postage & Shipping: $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $3,600 Prints & Maps: $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $240 Salaries & Taxes: $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $55,200 Telephone: $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $2,880 Source of Supply: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Transmission. & Distribution: $21,105 $21,105 $21,105 $21,105 $21,105 $21,105 $21,105 $21,105 $21,105 $21,105 $21,105 $21,105 $253,260 Electricity: $775 $775 $775 $775 $775 $775 $775 $775 $775 $775 $775 $775 $9,300 Field Supplies: $2,625 $2,625 $2,625 $2,625 $2,625 $2,625 $2,625 $2,625 $2,625 $2,625 $2,625 $2,625 $31,500 Reapirs and Maintenance: $305 $305 $305 $305 $305 $305 $305 $305 $305 $305 $305 $305 $3,660 Operations $12,700 $12,700 $12,700 $12,700 $12,700 $12,700 $12,700 $12,700 $12,700 $12,700 $12,700 $12,700 $152,400 C / Water Tank / Model / EPCWA $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $56,400 Miscellaneous: $0 Debt Service: $0 Capital Outlay: $0 $0 Miscellaneous: $469 $469 Total Expenses: $30,155 $30,150 $30,150 $30,150 $30,150 $30,150 $30,150 $30,150 $30,150 $30,150 $30,150 $30,619 $362,268 Oth. Financ'g Sources: Restricted Transfer Out: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Transfers In: $0 Transfers Out: $0 Total Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

27 Date: 11/30/2010 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Colorado Centre Metropolitan District PROPRIETARY FUNDS - WATER CAPITAL PROJECTS Min. Mo. Cap. Serv.Chg.: $3.00 Min. Mo. Cap. Serv.Chg. (COI): $35.00 Cap. Sys. Imp. Fee per SFE: $5, JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fiscal Year Description Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Revenues: Availability of Sevice Charge: $0 Administrative Service Charge: ital Improvement Service Charge: $2,653 $2,653 $2,653 $2,653 $2,653 $2,653 $2,653 $2,653 $2,653 $2,653 $2,653 $2,653 $31,836 Restricted Tap Fees: Capital Improvement Conn. Fee: $3,756 $3,756 $3,756 $3,756 $3,756 $3,756 $3,756 $3,756 $3,756 $873,856 $3,756 $3,756 $915,172 Interest and Miscellaneous: $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $2,400 Total Revenues: $6,609 $6,609 $6,609 $6,609 $6,609 $6,609 $6,609 $6,609 $6,609 $876,709 $6,609 $6,609 $949,408 Expenses: Administration: Accounting: Advertising: Automobile: Bank Charges: Consulting Fees: Contract Labor: Director's Fees: Dues & Subscriptions: Elections: Fees & Licenses: Insurance: Interest: Legal: Meals & Entertainment: Office Equipment Rental: Office Repair & Maint.: Office Supplies: Office Utilities: Postage & Shipping: Prints & Maps: Salaries & Taxes: Telephone: Source of Supply: Transmission. & Distribution: Electricity: Field Supplies: Reapirs and Maintenance: Operations FMIC / Water Tank / EPCWA Miscellaneous: Capital Outlay: $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $12,000 $100,000 Debt Service: $0 Miscellaneous: Total Expenses: $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $12,000 $100,000 Oth. Financ'g Sources: Restricted Transfer Out: Transfers In: $0 Transfers Out: $0 Total Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

28 Date: 11/30/2010 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Colorado Centre Metropolitan District PROPRIETARY FUNDS - WASTEWATER OPERATIONS Cost in $ per Kgal: $6.25 Min. Mo. Admin. Serv. Charge: $ Mo. Admin. Serv. Charge (COI): $70.00 Tap Fee per SFE: $5, JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fiscal Year Description Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Revenues: Use Charge: $23,206 $23,206 $23,206 $23,206 $23,206 $23,206 $23,206 $23,206 $23,206 $23,206 $23,206 $23,206 $278,472 Administrative Service Charge: $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $9,414 $112,968 ital Improvement Service Charge: Restricted Tap Fees: $0 Capital Improvement Fee: Miscellaneous: $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 Total Revenues: $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $403,440 Expenses: Administration: $9,050 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $9,045 $108,539 Accounting: $560 $560 $560 $560 $560 $560 $560 $560 $560 $560 $560 $560 $6,720 Advertising: $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $840 Automobile: $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $11 $126 Bank Charges: $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $3,000 Consulting Fees: $54 $54 $54 $54 $54 $54 $54 $54 $54 $54 $54 $54 $648 Contract Labor: $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $1,320 Director's Fees: $232 $232 $232 $232 $232 $232 $232 $232 $232 $232 $232 $232 $2,784 Dues & Subscriptions: $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $6 $72 Elections: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fees & Licenses: $22 $22 $22 $22 $22 $22 $22 $22 $22 $22 $22 $22 $264 Insurance: $640 $640 $640 $640 $640 $640 $640 $640 $640 $640 $640 $640 $7,680 Interest: $5 $5 Legal: $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $9,600 Meals & Entertainment: $140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $140 $1,680 Office Equipment Rental: $40 $40 $40 $40 $40 $40 $40 $40 $40 $40 $40 $40 $480 Office Repair & Maint.: $210 $210 $210 $210 $210 $210 $210 $210 $210 $210 $210 $210 $2,520 Office Supplies: $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $4,200 Office Utilities: $390 $390 $390 $390 $390 $390 $390 $390 $390 $390 $390 $390 $4,680 Postage & Shipping: $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $3,600 Prints & Maps: $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $240 Salaries & Taxes: $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $4,600 $55,200 Telephone: $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $2,880 Sewage Treatment: $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $168,000 Collection & Transmission: $10,575 $10,575 $10,575 $10,575 $10,575 $10,575 $10,575 $10,575 $10,575 $10,575 $10,575 $10,575 $126,900 Electricity: $625 $625 $625 $625 $625 $625 $625 $625 $625 $625 $625 $625 $7,500 Field Supplies: $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $3,000 Repairs and Maintenance: $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $2,400 Operations: $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $9,500 $114,000 Capital Outlay: LFMSDD: Other Capital Projects: Miscellaneous: $1 $1 Total Expenses: $33,625 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,620 $33,621 $403,440 Oth. Revenue Sources: $0 Restricted Transfer Out: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Transfers In: $0 Transfers Out: $0 Total Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

29 Date: 11/30/2010 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Colorado Centre Metropolitan District PROPRIETARY FUNDS - WASTEWATER CAPITAL PROJECTS Min. Mo. Cap. Serv.Chg.: $13.00 Min. Mo. Cap. Serv.Chg. (COI): $ Cap. Sys. Imp. Fee per SFE: $5, JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fiscal Year Description Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Revenues: Availability of Sevice Charge: $12,514 $12,514 $12,514 $12,514 $12,514 $12,514 $12,514 $12,514 $12,514 $12,514 $12,514 $12,514 $150,168 Administrative Service Charge: ital Improvement Service Charge: $11,368 $11,368 $11,368 $11,368 $11,368 $11,368 $11,368 $11,368 $11,368 $11,368 $11,368 $11,368 $136,416 Restricted Tap Fees: Capital Improvement Tap Fee: $870,100 $870,100 Interest and Miscellaneous: $200 $200 $200 $200 $200 $200,200 $500,200 $500,200 $500,200 $400,200 $400,200 $400,200 $2,902,400 Total Revenues: $24,082 $24,082 $24,082 $24,082 $24,082 $224,082 $524,082 $524,082 $524,082 $1,294,182 $424,082 $424,082 $4,059,084 Expenses: Administration: Accounting: Advertising: Automobile: Bank Charges: Consulting Fees: Contract Labor: Director's Fees: Dues & Subscriptions: Elections: Fees & Licenses: Insurance: Interest: Legal: Meals & Entertainment: Office Equipment Rental: Office Repair & Maint.: Office Supplies: Office Utilities: Postage & Shipping: Prints & Maps: Salaries & Taxes: Telephone: Sewage Treatment: Collection & Transmission: Electricity: Field Supplies: Repairs and Maintenance: Operations: Capital Outlay: $300,500 $310,000 $310,000 $410,000 $770,000 $510,000 $510,000 $500,500 $400,500 $400,500 $400,500 $400,500 $5,223,000 LFMSDD: $300,000 $300,000 $300,000 $400,000 $500,000 $500,000 $500,000 $500,000 $400,000 $400,000 $400,000 $400,000 $4,900,000 Other Capital Projects: $500 $10,000 $10,000 $10,000 $270,000 $10,000 $10,000 $500 $500 $500 $500 $500 $323,000 Debt Service: $100,000 $417 $1,459 $2,501 $3,543 $4,376 $5,210 $117,506 Miscellaneous: Total Expenses: $400,500 $310,000 $310,000 $410,000 $770,000 $510,000 $510,417 $501,959 $403,001 $404,043 $404,876 $405,710 $5,340,506 Oth. Revenue Sources: Restricted Transfer In/(Out): Transfers In: $0 Transfers Out: $0 Total Other: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

30 Date: 11/30/2010 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Colorado Centre Metropolitan District ADMINISTRATIVE EXPENSES - Split 40% to Wastewater, 40% to Water and 20% to General Funds JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fiscal Year Description Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Expenses: Administration: $22,815 $22,815 $22,815 $22,815 $22,815 $22,815 $22,815 $22,815 $22,815 $22,815 $22,815 $22,815 $273,780 Accounting: $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $19,200 Advertising: $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $2,100 Automobile: $30 $30 $30 $30 $30 $30 $30 $30 $30 $30 $30 $30 $360 Bank Charges: $625 $625 $625 $625 $625 $625 $625 $625 $625 $625 $625 $625 $7,500 Consulting Fees: $135 $135 $135 $135 $135 $135 $135 $135 $135 $135 $135 $135 $1,620 Contract Labor: $275 $275 $275 $275 $275 $275 $275 $275 $275 $275 $275 $275 $3,300 Director's Fees: $580 $580 $580 $580 $580 $580 $580 $580 $580 $580 $580 $580 $6,960 Dues & Subscriptions: $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 $180 Elections: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fees & Licenses: $55 $55 $55 $55 $55 $55 $55 $55 $55 $55 $55 $55 $660 Insurance: $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $19,200 Legal: $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $24,000 Meals & Entertainment: $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $4,200 Office Equipment Rental: $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $1,200 Office Repair & Maint.: $525 $525 $525 $525 $525 $525 $525 $525 $525 $525 $525 $525 $6,300 Office Supplies: $875 $875 $875 $875 $875 $875 $875 $875 $875 $875 $875 $875 $10,500 Office Utilities: $975 $975 $975 $975 $975 $975 $975 $975 $975 $975 $975 $975 $11,700 Postage & Shipping: $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $9,000 Prints & Maps: $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $600 Salaries & Taxes: $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $138,000 Telephone: $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $7,200 Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

31 OFFICIAL BUDGET FOR CALENDAR YEAR 2011 Date: 12/14/2010 Colorado Centre Metropolitan District PROPOSED PUBLIC SAFETY FY 2011 BUDGET Revenue: Eqiv. Qty. Unit Cost Amount ($) Single family 770 $ ,569 COI 8955 Drennan 6 $ , FTZ 6 $ , FTZ - S 6 $ , FTZ-N 6 $ ,991 WSD3 BUS BARN 6 $ ,991 USARC 1 6 $ ,991 USARC 2 6 $ ,991 3 mills 40, ,050 Expenses: Units Qty Unit Cost Amount ($) Fire Chief hrs 500 $60 $30,000 Lead Fireman day 365 $375 $136,875 Second Fireman day 365 $275 $100,375 Legal hrs 24 $150 $3,600 Admin (AJT) hrs 48 $150 $7,200 Fuel, Maint. & Train. each 1 $15,000 $15,000 Insurance each 1 $12,000 $12,000 Contingency each 1 $5,000 $5,000 $310, Monthly Fee for First Responder Service Mo. Amt. Units Monthly tota Single Family $ $21,299 COI $ $1,162 $22,461 Monthly Expenses $25,838 Filename: 2011-BUDGET.xlsx Professional Consultants Incorporated

32 DATE: 11/29/2010 UTILITY RATE ESTIMATOR BY : AJT WATER RATE ESTIMATOR FOR FISCAL YEAR 2011, BASED ON 2010 DATA FOR F.Y.: Performance of Tiered Water User Rates: 2010 Expenses: % of column Personnel $40, % Electricity $9, % Consulting $80, % Legal $9, % Insurance $15, % Supplies $28, % Water Tank lease (COS) $9, % FMIC shares assessment $44, % Testing $2, % Repairs and Maintenance $2, % Miscellaneous $8, % Total Exenses: $246, % 2010 Gross Water Produced (Gallons) 80,000,000 Water System Losses 5,000,000 Water System Maintenance 700,000 Fires Water Usage 10,000 Miscellaneous 0 Net Water Sold (Gallons): 74,290,000 Gallons 2010 Avg. Revenue Required from Water Sold ($/kgal): $3.32 /kgal Actual Residential and Commercial Water Sales: Tier 1 Tier 2 Tier 3 Tier 4 Tier 5 Const. Water 2010 Water Sold per tier (Gallons) 53,679,294 6,993,951 3,415,498 3,558,530 5,317,765 1,324, Rate per Tier per kilo gallons $2.35 $2.65 $3.20 $5.30 $12.00 $ Revenue per Tier $126,146 $18,534 $10,930 $18,860 $63,813 $19, % Revenue per Tier 48.86% 7.18% 4.23% 7.31% 24.72% 7.70% 2010 % of All Water Sold 72.26% 9.41% 4.60% 4.79% 7.16% 1.78% 2010 Actual Weighted Avg. Revenue from Water Sold ($/kgal): $3.47 /kgal Above Requirements 2010 Performance of Sewer User Rates: 2010 Expenses: % of column Personnel $40, % Electricity $7, % Consulting $60, % Legal $4, % Insurance $4, % Supplies $7, % Treatment $155, % Testing $ % Repairs and Maintenance $2, % Miscellaneous $6, % Total Exenses: $285, % 2010 Gross Sewer Treated (Gallons) 47,000,000 Reduction from sewer averaging: 5,000,000 Net Sewer Sold (Gallons): 42,000, Revenue Required from Sewer Sold ($/kgal): $6.80 /kgal COLORADO CENTRE METROPOLITAN DISTRICT

33 DATE: 11/29/2010 UTILITY RATE ESTIMATOR BY : AJT 2011 Projected Tiered Water User Rates: 2011 Projected Expenses: % of column Personnel $42, % Electricity $9, % Consulting $80, % Legal $9, % Insurance $15, % Supplies $31, % Water Tank lease (COS) $9, % FMIC shares assessment $59, % Testing $2, % Repairs and Maintenance $3, % Miscellaneous 0.00% Total Exenses: $262, % 2011 Est. Gross Water Produced (Gallons) 82,000,000 Water System Losses 5,000,000 Water System Maintenance 700,000 Fires Water Usage 10,000 Miscellaneous 0 Net Water Sales (Gallons): 84,000, Avg. Revenue Required from Water Sold ($/kgal): $3.12 /kgal Actual Parks, Residential and Commercial Water Sales: Tier 1 Tier 2 Tier 3 Tier 4 Tier 5 Const. Water 2011 Est. Water Sales per tier (Gallons) 60,695,392 7,908,089 3,861,917 4,023,644 6,012,819 1,498, Rate per Tier per kilo gallons $2.35 $2.65 $3.20 $5.30 $12.00 $ Revenue per Tier $142,634 $20,956 $12,358 $21,325 $72,154 $22, % Revenue per Tier 48.86% 7.18% 4.23% 7.31% 24.72% 7.70% 2011 % of All Water Sold 72.26% 9.41% 4.60% 4.79% 7.16% 1.78% 2011 Est. Weighted Avg. Revenue from Water Sold ($/kgal): $3.47 /kgal Above Requirements 2011 Target Sewer User Rates: 2011 Expenses: % of column Personnel $42, % Electricity $7, % Consulting $60, % Legal $4, % Insurance $4, % Supplies $7, % Treatment $168, % Testing $ % Repairs and Maintenance $2, % Miscellaneous $2, % Water Subsidy 0.00% Total Expenses: $298, % 2011 Gross Sewer Treated (Gallons) 49,501,116 Reduction from sewer averaging: 2,100,000 Net Sewer Sold (Gallons): 47,401, Revenue Required from Sewer Sold ($/kgal): $6.29 /kgal COLORADO CENTRE METROPOLITAN DISTRICT

34 DATE: 11/29/2010 UTILITY RATE ESTIMATOR BY : AJT Fire and Lost Water Charges Estimator (CCMD Only): Avg. Revenue Required from Water Sold ($/kgal): $3.12 /kgal Items allocated: % Electricity 3.55% $0.11 Supplies 12.02% $0.38 FMIC shares assessment 22.70% $0.71 Testing 0.76% $0.02 Repairs and Maintenance 1.40% $0.04 Miscellaneous 0.00% $0.00 Use > $1.26 /kgal Construction Water Charge Estimator: 25% Higher than Tier 5 > $15.00 /kgal Lease of FMIC Water at Headgate Charge Estimator: Expenses: 2011 Assessment: $ per share Water Yield per Share: $0.70 ac ft/share Cost per volume: $ per ac ft $ per ac ft Use > $150 per ac ft COLORADO CENTRE METROPOLITAN DISTRICT

35 RESOLUTION / SET MILL LEVIES FOR TAX YEAR 2010 COLLECTION YEAR 2011

36 RESOLUTION TO SET MILL LEVIES FOR TAX YEAR 2010 COLLECTION YEAR 2011 A RESOLUTION LEVYING GENERAL AND SPECIAL PROPERTY TAXES TO BE COLLECTED IN YEAR 2011 ACCORDING TO THE PROVISIONS OF THE COLORADO CENTRE METROPOLITAN DISTRICT'S PLAN OF RE-ORGANIZATION, CASE No. 89 B J, TO ALLOW FOR THE OPTIMUM RECOVERY OF BONDHOLDER'S INVESTMENT IN THE DISTRICT AFTER SPECIFIC ALLOWANCES FOR OPERATIONAL EXPENSES ARE SATISFIED FOR THE 2011 BUDGET YEAR. WHEREAS, the Board of Directors of the Colorado Centre Metropolitan District (District) has adopted the annual budget in accordance with the Local Government Budget Law, the Chapter 9 reorganization plan of the District and Amendment 1 (Taxpayer's Bill of Rights), on December 10, 2010; and, WHEREAS, the District will collect this year $337,837 in general property taxes; and, WHEREAS, all "Developer Owned Property" within the District, as more specifically defined in the re-organization plan of the District, shall be subject to a one-hundred (100) mill levy and generate a tax of $81,841, in addition to the regular taxes of the District, and which tax shall be used, exclusively, to make payments to the bondholders of the District; and, WHEREAS, the year 2010 valuation for assessment for the Colorado Centre Metropolitan District as certified by the County Assessor is $13,513,490 for the purpose of the general taxation and $818,410 for the purpose of the special taxation on "Developer Owned Property"; and, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COLORADO CENTRE METROPOLITAN DISTRICT, COLORADO: Section 1. That for the purpose of meeting all expenses of the Colorado Centre Metropolitan District during the 2011 budget year, there is hereby levied a tax of general mills upon each dollar of the total valuation for assessment of all taxable property within the District for the year Section 2. That for the purpose of meeting fire protection and park expenses of the Colorado Centre Metropolitan District during the 2011 budget year, there is hereby levied a tax of mills and mills, respectively, as approved in the election of November 1, 2005 and exempt from TABOR, upon each dollar of the total valuation for assessment of all taxable property within the District. Section 3. That for the purpose of satisfying one of the requirements of the re-organization plan of the District, a mill assessment shall be levied on all "Developer Owned Property" as defined in said plan and more specifically identified by El Paso County Tax Assessors' Codes 879, DB4, DB5, DCQ, DCU, DFW, DFX, DFZ, DGA, DKB, DKD & DKG. Page 1 of 2.

37

38 RESOLUTION / TO APPROPRIATE SUMS OF MONEY FOR F.Y. 2011

39 Resolution RESOLUTION TO APPROPRIATE SUMS OF MONEY FOR FISCAL YEAR 2011 A RESOLUTION APPROPRIATING SUMS OF MONEY TO THE VARIOUS FUNDS AND AGENCIES, IN THE AMOUNTS AND FOR THE PURPOSE AS SET FORTH BELOW, FOR THE COLORADO CENTRE METROPOLITAN DISTRICT, COLORADO, FOR THE BUDGET YEAR WHEREAS, the Board of Directors has adopted the annual budget in accordance with the Local Government Law, on December 10, 2010; and, WHEREAS, the Board has made provision therein for revenue in an amount equal or higher to the total projected expenditures plus reserves, as set forth in said budget; and, WHEREAS, it is not only required by law, but also necessary, to appropriate the revenues provided in the budget to and for the purposes described below, so as not to impair the operations of the District. NOW THEREFORE, BE IT RESOLVED BY the Board of Directors of the Colorado Centre Metropolitan District, Colorado: Section 1. THAT the following sums are hereby appropriated from the revenue of each fund to each fund for the purposes operating and paying debts of the District in Fiscal Year 2010: General Fund: From un-appropriated surpluses $0 From source other than general property tax $441,720 From General property tax levy $337,837 Total General Fund $779,557 Reserve Fund: From un-appropriated surpluses $647,135 From source other than general tax $47,818 From General property tax levy $0 Total Reserve Fund $694,953 Debt Service Fund: From un-appropriated surpluses $0 From source other than general tax $187,740 From Special property tax levy $81,841 Total Reserve Fund $269,581 Water Fund - Operations: From un-appropriated surpluses $0 From source other than general tax $362,268 From General property tax levy $0 Total Water Fund - General $362,268 Page 1 of 2.

40

41 CERTIFICATION OF TAX LEVIES

42 CERTIFICATION OF TAX LEVIES for NON-SCHOOL Governments TO: County Commissioners 1 of El Paso County, Colorado. On behalf of the Colorado Centre Metropolitan District, (taxing entity) A the Board of Directors of the Colorado Centre Metropolitan District Hereby officially certifies the following mills to be levied against the taxing entity s GROSS assessed valuation of: Note: If the assessor certified a NET assessed valuation (AV) different than the GROSS AV due to a Tax Increment Financing (TIF) Area F the tax levies must be calculated using the NET AV. The taxing entity s total property tax revenue will be derived from the mill levy multiplied against the NET assessed valuation of: $ 13,513,490 (governing body) B (local government) C (GROSS D assessed valuation, Line 2 of the Certification of Valuation Form DLG 57 E ) $ 13,513,490 (NET G assessed valuation, Line 4 of the Certification of Valuation Form DLG 57) Submitted: 12/15/2010 for budget/fiscal year (not later than Dec. 15) (dd/mm/yyyy) (yyyy) PURPOSE (see end notes for definitions and examples) LEVY 2 REVENUE 2 1. General Operating Expenses H mills $ 270, <Minus> Temporary General Property Tax Credit/ Temporary Mill Levy Rate Reduction I < > mills $ < > SUBTOTAL FOR GENERAL OPERATING: mills $ 3. General Obligation Bonds and Interest J mills $ 4. Contractual Obligations K mills $ 5. Capital Expenditures L mills $ 6. Refunds/Abatements M mills $ 7. Other N (specify): Parks and Open Space mills $ 27, Emergency Response mills $ 40, Sum of General Operating TOTAL: [ Subtotal and Lines 3 to 7 ] mills $ 337, Contact person: (print) Al Testa Daytime phone: ( 719 ) x 17 Signed: Title: District Manager Send one completed copy of this form to the Division of Local Government (DLG), Room 521, 1313 Sherman Street, Denver, Colorado when the local government s adopted budget is submitted to DLG. Questions? Call DLG at (303) If the taxing entity s boundaries include more than one county, you must certify the levies to each county. Use a separate form for each county and certify the same levies uniformly to each county per Article X, Section 3 of the Colorado Constitution. 2 Levies must be rounded to three decimal places and revenue must be calculated from the total NET assessed valuation (Line 4 of Form DLG57 on the County Assessor s final certification of valuation). Form DLG 70 (rev 8/06) Page 1 of 4

43 CERTIFICATION OF TAX LEVIES, continued THIS SECTION APPLIES TO TITLE 32, ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES FOR PAYMENT OF GENERAL OBLIGATION DEBT ( C.R.S.). Taxing entities that are Special Districts or Subdistricts of Special Districts must certify separate mill levies and revenues to the Board of County Commissioners, one each for the funding requirements of each debt ( , C.R.S.) Use additional pages as necessary. The Special District s or Subdistrict s total levies for general obligation bonds and total levies for contractual obligations should be recorded on Page 1, Lines 3 and 4 respectively. CERTIFY A SEPARATE MILL LEVY FOR EACH BOND OR CONTRACT: BONDS J : 1. Purpose of Issue: None Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: 2. Purpose of Issue: Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: CONTRACTS K : 3. Purpose of Contract: None Title: Date: Principal Amount: Maturity Date: Levy: Revenue: 4. Purpose of Contract: Title: Date: Principal Amount: Maturity Date: Levy: Revenue: Use multiple copies of this page as necessary to report all bond and contractual obligations. Form DLG 70 (rev 8/06) Page 2 of 4

44 CERTIFICATION OF TAX LEVIES for NON-SCHOOL Governments TO: County Commissioners 1 of El Paso County, Colorado. On behalf of the Colorado Centre Metropolitan District, (taxing entity) A the Board of Directors of the Colorado Centre Metropolitan District Hereby officially certifies the following mills to be levied against the taxing entity s GROSS assessed valuation of: Note: If the assessor certified a NET assessed valuation (AV) different than the GROSS AV due to a Tax Increment Financing (TIF) Area F the tax levies must be calculated using the NET AV. The taxing entity s total property tax revenue will be derived from the mill levy multiplied against the NET assessed valuation of: $ 818,410 (governing body) B (local government) C (GROSS D assessed valuation, Line 2 of the Certification of Valuation Form DLG 57 E ) $ 818,410 (NET G assessed valuation, Line 4 of the Certification of Valuation Form DLG 57) Submitted: 12/15/2010 for budget/fiscal year (not later than Dec. 15) (dd/mm/yyyy) (yyyy) PURPOSE (see end notes for definitions and examples) LEVY 2 REVENUE 2 1. General Operating Expenses H mills $ 2. <Minus> Temporary General Property Tax Credit/ Temporary Mill Levy Rate Reduction I < > mills $ < > SUBTOTAL FOR GENERAL OPERATING: mills $ 3. General Obligation Bonds and Interest J mills $ 4. Contractual Obligations K mills $ 5. Capital Expenditures L mills $ 6. Refunds/Abatements M mills $ 7. Other N (specify): Dev. Owned Property Only mills $ 81, mills $ Sum of General Operating TOTAL: [ Subtotal and Lines 3 to 7 ] mills $ 81, Contact person: (print) Al Testa Daytime phone: (719 ) x 17 Signed: Title: District Manager Send one completed copy of this form to the Division of Local Government (DLG), Room 521, 1313 Sherman Street, Denver, Colorado when the local government s adopted budget is submitted to DLG. Questions? Call DLG at (303) If the taxing entity s boundaries include more than one county, you must certify the levies to each county. Use a separate form for each county and certify the same levies uniformly to each county per Article X, Section 3 of the Colorado Constitution. 2 Levies must be rounded to three decimal places and revenue must be calculated from the total NET assessed valuation (Line 4 of Form DLG57 on the County Assessor s final certification of valuation). Form DLG 70 (rev 8/06) Page 1 of 4

45 CERTIFICATION OF TAX LEVIES, continued THIS SECTION APPLIES TO TITLE 32, ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES FOR PAYMENT OF GENERAL OBLIGATION DEBT ( C.R.S.). Taxing entities that are Special Districts or Subdistricts of Special Districts must certify separate mill levies and revenues to the Board of County Commissioners, one each for the funding requirements of each debt ( , C.R.S.) Use additional pages as necessary. The Special District s or Subdistrict s total levies for general obligation bonds and total levies for contractual obligations should be recorded on Page 1, Lines 3 and 4 respectively. CERTIFY A SEPARATE MILL LEVY FOR EACH BOND OR CONTRACT: BONDS J : 1. Purpose of Issue: None Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: 2. Purpose of Issue: Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: CONTRACTS K : 3. Purpose of Contract: None Title: Date: Principal Amount: Maturity Date: Levy: Revenue: 4. Purpose of Contract: Title: Date: Principal Amount: Maturity Date: Levy: Revenue: Use multiple copies of this page as necessary to report all bond and contractual obligations. Form DLG 70 (rev 8/06) Page 2 of 4

46 VALUATIONS BY EL PASO COUNTY ASSESSOR

47

48

49

50

51

52

53

54

55

56

57 AFFIDAVIT OF PUBLICATION

58