BELLYACHE RIDGE METROPOLITAN DISTRICT

Transcription

1 BELLYACHE RIDGE METROPOLITAN DISTRICT December 7, 2018 Division of Local Government 1313 Sherman Street, Room 521 Denver, CO Filed Electronically: RE: Bellyache Ridge Metropolitan District 2019 Budget LGID #19005 Attached is the 2019 Budget for the Bellyache Ridge Metropolitan District in Eagle County, Colorado, submitted pursuant to Section , C.R.S. This Budget was adopted on October 9, If there are any questions on the budget, please contact Mr. Kenneth J. Marchetti, telephone number The mill levy certified to the County Commissioners of Eagle County is mills reduced by a temporary mill levy credit of mills for a net levy of mills for all general operating purposes, subject to statutory and/or TABOR limitations; mills for G.O. bonds. Based on an assessed valuation of $4,613,400, the total property tax revenue is $85,348. A copy of the certification of mill levies sent to the County Commissioners for Eagle County is enclosed. I hereby certify that the enclosed is a true and accurate copy of the budget and certification of tax levies to the Board of County Commissioners of Eagle County, Colorado. Sincerely, Title: District Administrator Enclosure(s) Administrative Management Provided By Marchetti & Weaver, LLC 28 Second Street, Suite 213, Edwards, CO 81632; Phone (970) ; Fax (970)

2 BELLYACHE RIDGE METROPOLITAN DISTRICT 2019 BUDGET MESSAGE Bellyache Ridge Metropolitan District is a quasimunicipal corporation organized and operated pursuant to provisions set forth in the Colorado Special District Act. The District, comprising of approximately 400 acres of land, was established to provide services for fire protection and water distribution and to own and maintain open space within its boundaries, which are located in Eagle County, Colorado. The District has no employees and all operations and administrative functions are provided through contracts with other entities. The following budget is prepared on the modified accrual basis of accounting, which is consistent with the basis of accounting used in presenting the District's financial statements BUDGET STRATEGY The District operates a water system including wells, pumps, treatment facilities, storage and distribution. The District funds the operating and maintenance of this system through user fees and property taxes. The District strives to provide the level of service and infrastructure facilities desired by the constituents of the District. The strategy for the 2019 budget focused on the following priorities: Continue to utilize the existing water well system accessing the current aquifers. Establish a property tax mill levy which, when combined with other revenues of the District, adequately funds the anticipated level of service and maintains a reasonable operating fund balance. Operate with the guidelines of the 1992 TABOR Amendment. Provide a reserve for anticipated future system replacement needs.

3 RESOLUTIONS OF BELLYACHE RIDGE METROPOLITAN DISTRICT TO ADOPT 2019 BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND AND ADOPTING A BUDGET FOR THE BELLYACHE RIDGE METROPOLITAN DISTRICT, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY 2019 AND ENDING ON THE LAST DAY OF DECEMBER WHEREAS, the Board of Directors of the Bellyache Ridge Metropolitan District has appointed a budget committee to prepare and submit a proposed 2019 budget at the proper time; and WHEAREAS, such committee has submitted a proposed budget to this governing body at the proper time, for its consideration, and; WHEREAS, upon due and proper notice, published or posted in accordance with the law, said proposed budget was open for inspection by the public at a designated place, and a public hearing was held on October 9, 2018, and interested taxpayers were given the opportunity to file or register any objections to said proposed budget; and; WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues or planned to be expended from reserves/fund balances so that the budget remains in balance, as required by law. NOW, THEREFORE, BE IT RESOLVED by the Board of directors of the Bellyache Ridge Metropolitan District, Eagle County, Colorado: Section 1. Section 2. That the budget as submitted, amended, and summarized by fund, hereby is approved and adopted as the budget of the Bellyache Ridge Metropolitan District for the year stated above. That the budget hereby approved and adopted shall be certified by any officer or the District Administrator of the District and made a part of the public records of the District. (THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK) Page 1 of 5

4 RESOLUTIONS OF BELLYACHE RIDGE METROPOLITAN DISTRICT TO SET MILL LEVIES A RESOLUTION LEVYING PROPERTY TAXES FOR THE YEAR 2018, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE BELLYACHE RIDGE METROPOLITAN DISTRICT, EAGLE COUNTY, COLORADO, FOR THE 2018 BUDGET YEAR. WHEREAS, the Board of Directors of the Bellyache Ridge Metropolitan District, has adopted the annual budget in accordance with the Local Government Budget Law, on October 9, 2018 and; WHEREAS, the amount of money necessary to balance the budget for general operating expenses and capital expenditure purposes from property tax revenue is $115,335 and; WHEREAS, the Bellyache Ridge Metropolitan District finds that it shall temporarily lower the general operating mill levy to render a refund for $29,987 and; WHEREAS, the amount of money necessary to balance the budget for voter approved bonds and interest is $0.00, and; WHEREAS, the 2018 valuation for assessment for the Bellyache Ridge Metropolitan District, as certified by the County Assessor is $4,613,400. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the BELLYACHE RIDGE METROPOLITAN DISTRICT, EAGLE COUNTY, COLORADO: Section 1. Section 2. Section 3. That for the purposes of meeting all general operating expenses of the Bellyache Ridge Metropolitan District during the 2019 budget year, there is hereby levied a tax of mills upon each dollar of the total valuation for assessment of all taxable property within the District for the year That for the purposes of rendering a refund to its constituents during budget year 2019 there is hereby levied a temporary tax credit/mill levy reduction of 6.50 mills. That for the purpose of meeting all capital expenditures of the Bellyache Ridge Metropolitan District during the 2019 budget year, there is hereby levied a tax of 0.00 mills upon each dollar of the total valuation for assessment of all taxable property within the District for the year (THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK) Page 2 of 5

5 RESOLUTIONS OF BELLYACHE RIDGE METROPOLITAN DISTRICT TO SET MILL LEVIES Section 4. Section 5. That for the purpose of meeting all payments for bonds and interest of the Bellyache Ridge Metropolitan District during the 2019 budget year, there is hereby levied a tax of 0.00 mills upon each dollar of the total valuation for assessment of all taxable property within the District for the year That any officer or the District Administrator is hereby authorized and directed to either immediately certify to the County Commissioners of Eagle County, Colorado, the mill levies for the Bellyache Ridge Metropolitan District as hereinabove determined and set, or be authorized and directed to certify to the County Commissioners of Eagle County, Colorado, the mill levies for the Bellyache Ridge Metropolitan District as hereinabove determined and set based upon the final (December) certification of valuation from the county assessor. (THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK) Page 3 of 5

6 RESOLUTIONS OF BELLYACHE RIDGE METROPOLITAN DISTRICT TO APPROPRIATE SUMS OF MONEY (PURSUANT TO SECTION , C.R.S.) A RESOLUTION APPROPRIATING SUMS OF MONEY TO THE VARIOUS FUNDS AND SPENDING AGENCIES, IN THE AMOUNT AND FOR THE PURPOSE AS SET FORTH BELOW, FOR THE BELLYACHE RIDGE METROPOLITAN DISTRICT, EAGLE COUNTY, COLORADO, FOR THE 2019 BUDGET YEAR. WHEREAS, the Board of Directors has adopted the annual budget in accordance with the Local Government Budget Law, on October 9, 2018, and; WHEREAS, the Board of Directors has made provision therein for revenues in an amount equal or greater to the total proposed expenditures as set forth in said budget, and; WHEREAS, it is not only required by law, but also necessary to appropriate the revenues and reserves or fund balances provided in the budget to and for the purposes described below, thereby establishing a limitation on expenditures for the operations of the District. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BELLYACHE RIDGE METROPOLITAN DISTRICT, EAGLE COUNTY, COLORADO: Section 1. That the following sums are hereby appropriated from the revenues of each fund, to each fund, for the purposes stated: GENERAL FUND: Current Operating Expenses $82,237 Capital Expenditures $20,000 TOTAL GENERAL FUND $102,237 ENTERPRISE FUND Current Operating Expenses $54,584 Capital Outlay $72,000 TOTAL ENTERPRISE FUND: $126,584 (THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK) Page 4 of 5

7 RESOLUTIONS OF BELL YA CHE RIDGE METROPOLITAN DISTRICT TO ADOPT 2019 BUDGET, SET MILL LEVIES AND APPROPRIATE SUMS OF MONEY The above resolutions to adopt the 2019 budget, set the mill levies and to appropriate sums of money were adopted this 9th day of October, Attest.'""'IV..L.#..:.. JL...:. L._a. i =,_' Page 5 of 5

8 BELLYACHE RIDGE METROPOLITAN DISTRICT STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE Printed: 01/07/19 Actual, Budget and Forecast for the Periods Indicated MODIFIED ACCRUAL BASIS YTD 2018 Variance YTD YTD Variance 2019 Actual Adopted Favorable 2018 Actual Budget Favorable Adopted COMBINED FUNDS 12/31/17 Budget (Unfavor) Forecast 9/30/18 9/30/18 (Unfavor) Budget ASSESSED VALUATION 3,732,490 4,637,460 4,637,460 4,613,400 % INCREASE YEAR TO YEAR 24% 24% 1% Operating Mill Levy Temporary Credit (4.000) (4.000) (6.500) NET OPERATING MILL LEVY REVENUES OPERATING PROPERTY TAXES 83,981 85, ,793 85,111 85,793 (682) 85,348 SPECIFIC OWNERSHIP TAXES 4,316 3, ,861 2,823 2, ,841 WATER USAGE FEES 21,219 18,540 11,210 29,750 25,195 13,905 11,290 21,219 WATER TAP FEES & PIF NEW CONNECTION 0 0 8,000 8, PLANT INVESTMENT FEE MONTHLY 23,910 24, ,120 18,090 18, ,120 INTEREST & DIVIDEND INCOME 3,432 2,542 4,158 6,700 5,047 1,906 3,141 7,124 MISCELLANEOUS INCOME TOTAL REVENUES 137, ,856 23, , , ,268 14, ,652 = = = = = = = = OPERATING EXPENDITURES ACCOUNTING 20,136 19,570 1,570 18,000 12,230 14,678 2,448 18,540 ADMINISTRATIVE SERVICES MINUTES ,020 BANK CHARGES BOARD OPERATING 1,980 2,700 (270) 2, ,700 DIRECTOR PAYROLL TAXES ELECTIONS 0 1, ,200 1,150 1, ENGINEERING 2,932 5, , ,750 3,616 5,000 INSURANCE 2,017 3, ,000 2,338 3, ,000 LEGAL 1,344 6,000 5,000 1, ,500 4,500 3,000 MISCELLANEOUS 103 2, , ,875 1,769 2,500 OFFICE EXPENSE 927 1, , , ,500 OPERATIONS ZANCANELLA 14,400 21, ,600 16,200 16, ,600 REPAIRS AND MAINTENANCE 11,764 15,000 (51) 15,051 15,051 15,000 (51) 15,000 UTILITIES ELECTRIC 3,406 4,740 1,158 3,582 2,736 3, ,968 UTILITIES TELEPHONE 1,632 1, ,958 1,252 1, ,017 WELL LOAN PAYMENTS INT THRU 4/1/47 5,948 4, ,116 4,116 4, ,030 WELL LOAN PAYMENTS PRINCIPAL 3,667 2, ,884 2,884 2, ,970 TREASURER'S FEES 2,522 2, ,574 2,556 2, ,560 WATER BILLINGS 3,439 3, ,600 2,532 2, ,600 WATER LEGAL TASKS 0 5,000 3,500 1,500 1,031 3,750 2,720 5,000 WATER QUALITY TESTING 3,167 4,000 3, ,000 2, CRWCD WATER SUPPLY AGREEMENT 6,885 7, ,500 6,998 7, ,500 BLM RIGHT OF WAY AGREEMENT 3,000 3, ,000 3,000 3, CONTINGENCY GENERAL FUND 0 30,000 30, ,500 22,500 30,000 TOTAL OPERATING EXPENDITURES 90, ,572 44, ,165 75, ,068 43, ,821 CAPITAL EXPENDITURES PRV VALVE REPLACEMENT 0 0 (10,000) 10, WELL HOUSE ROOFS (1&2) & WELL 3 FLOOR 7,000 WATER TANK ROOF 50,000 NEW TANK COLUMNS 15,000 15, ,000 WATER IMPROVEMENTS (UNFORSEEN) 6,687 20,000 20, ,667 16,667 20,000 TOTAL CAPITAL EXPENDITURES 6,687 35,000 25,000 10, ,667 16,667 92,000 TOTAL EXPENDITURES 96, ,572 69, ,165 75, ,735 60, ,821 = = = = = = = = REVENUE OVER EXPENDITURES 40,270 (48,717) 92,776 44,059 61,320 (13,466) 74,786 (87,170) OTHER SOURCES & USES OF FUNDS BOND/LOAN PROCEEDS BOND/LOAN COSTS TOTAL OTHER SOURCES & USES BEGINNING FUND BALANCE 257, ,725 15, , , ,725 15, ,183 ENDING FUND BALANCE 298, , , , , ,259 90, ,013 No assurance is provided on these financial statements; = = = = = = = = substantially all disclosures required by GAAP omitted. Page 1

9 55 County Tax entity code DOLA LGID/SID CERTIFICATION OF TAX LEVIES for NONSCHOOL Governments TO: County Commissioners 1 of Eagle County, Colorado. On behalf of the Bellyache Ridge Metropolitan District the Board of Directors of the Bellyache Ridge 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: (taxing entity) A (governing body) B (local government) C $ 4,613,400 (Gross D assessed valuation, Line 2 of the Certification of Valuation From DLG 57 E ) $ 4,613,400 (NET G assessed valuation, Line 4 of the Certification of Valuation Form DLG 57) USE VALUE FROM FINAL CERTIFICATION OF VALUATION PROVIDED BY ASSESSOR NO LATER THAN DECEMBER 10 Submitted: 12/7/2018 for budget/fiscal year (not later than Dec 15) (mm/dd/yyyy) (yyyy) PURPOSE (see end notes for definitions and examples) LEVY 2 REVENUE 2 1. General Operating Expenses H mills $ 115, <Minus> Temporary General Property Tax Credit/ Temporary Mill Levy Rate Reduction I (6.500) mills $ (29,987.10) 1 SUBTOTAL FOR GENERAL OPERATING: mills $ 85, 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): mills $ mills $ Sum of General Operating TOTAL:[ Subtotal and Lines 3 to 7 ] mills $ 85, Contact person: (print) Kenneth J. Marchetti Daytime phone: (970) x8 Signed: Title: District Accountant Include one copy of this tax entity's completed form when filing the local government's budget by January 31st, per C.R.S. with the Division of Local Government (DLG), Room 521, 1313 Sherman Street, Denver, Colorado Questions? Call DLG (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 9/15) Page 1 of 4