Preliminary Draft. Subject To Revision

Transcription

1 Accountant s Compilation Report Board of Directors Deer Creek Water District Elbert County, Colorado We have compiled the Application for Exemption from Audit of Deer Creek Water District as of and for the year ended December 31, 2010, included in the accompanying prescribed form, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. Our compilation was limited to presenting in the form prescribed by the State of Colorado s Office of the State Auditor information that is the representation of management of the District. We have not audited or reviewed the Application for Exemption from Audit and, accordingly, do not express an opinion or any other form of assurance on it. The Application for Exemption from Audit is presented in accordance with the requirements of the State of Colorado s Office of the State Auditor, which differ from generally accepted accounting principles. Accordingly, the Application for Exemption from Audit is not designed for those who are not informed about such differences. February, 2011

2 APPLICATION FOR EEMPTION FROM AUDIT LONG FORM FOR GOVERNMENTS WITH REVENUES OR EPENDITURES GREATER THAN 100,000 BUT NOT MORE THAN 500,000 Name of Government: Address: Contact Person: Telephone: Fax: Deer Creek Water District 3344 Deer Creek Dr Parker, CO Bill Theisen For the Fiscal Year Ended December 31, 2010 or fiscal year ended: Return to: Office of the State Auditor Local Government Audit Division 225 E. 16th Ave., Suite 555 Denver, CO Fax: (303) Call (303) if you need help completing this form. Section , C.R.S. outlines the provisions for an exemption from audit. Generally, any local government where neither revenues nor expenditures exceed 500,000 in any fiscal year may qualify for an exemption. If either revenues or expenditures are 100,000 or greater, but not more than 500,000, you may use this form. If both revenues and expenditures are less than 100,000 individually, use the short form application for exemption from audit. Please review ALL instructions prior to the completion of this form. Instructions: (See "Instructions" tab for additional information) 1. Prepare this form completely and accurately. Pleae note that there are eleven parts to this form and all questions must be answered for the application to be considered complete. 2. File this form with the Office of the State Auditor within 3 months after the end of the fiscal year. For years ended December 31, the form must be received by the Office of the State Auditor by March The form must be completed by an independent accountant (separate from the entity) with knowledge of governmental accounting. 4. The application must be personally reviewed and approved by a majority of the governing body as evidenced by one of the following methods: a. Resolution of the governing board application may be ed, faxed, or mailed. b. Original signatures application must be mailed. or fax will NOT be accepted. 5. The preparer must sign the application that is submitted in order for it to be accepted. 6. Additional information may be attached to the exemption at the preparer's discretion. CERTIFICATION OF PREPARER I certify that I am an independent accountant with knowledge of governmental accounting and that the information in the Application is complete and accurate to the best of my knowledge. Independent means someone who is separate from the entity. Name: Neil Schilling Title: Firm Name (if applicable): Principal, CPA Schilling & Company, Inc Address: PO Box , Highlands Ranch, Colorado Telephone Number: Date Prepared: 2/ /2011 Preparer Signature (Required): The Audit Law requires that a person independent of the entity complete the Application if revenues or expenditure are at least 100,000 but not more than 500,000. Independent means someone who is separate from the entity. Please describe what your relationship is with the entity. Page 1

3 Water Utility Ln # Description Fund* Fund* Description Fund* Fund* 11 Assets Assets 12 Cash & Cash Equivalents Cash & Cash Equivalents 122, Investments Investments 14 Receivables Receivables 6, Due from other Entities or Funds Due from other Entities or Funds 71, Other Assets (specify) Capital Assets, net (from Part 62) 1,277, Other Assets (specify) 18 Prepaid expenses 1, Unamortized bond issue costs 135, Total Assets (add lines 12 through 110) Total Assets (add lines 12 through 110) 1,614, Liabilities and Fund Equity Liabilities and Fund Equity 113 Liabilities Liabilities 114 Accounts Payable Accounts Payable 23, Accrued Payroll and Related Liabilities Accrued Payroll and Related Liabilities 116 Accrued Interest Payable Accrued Interest Payable 5, Due to other Entities or Funds Due to other Entities or Funds 118 Other Liabilities (specify) Proprietary Debt Outstanding (from Part 41) 1,424, Other Liabilities (specify) 120 Deferred property taxes 70, Total Liabilities (add lines 114 through 125) Total Liabilities (add lines 114 through 125) 1,524, Equity Equity 128 Investment in Capital Assets, Net of Debt 17, Fund Equity Fund Equity 130 Emergency Reserves Emergency Reserves 2, Other Designations/Reserves Other Designations/Reserves 132 Restricted Restricted 133 Undesignated/Unreserved/Unrestricted Undesignated/Unreserved/Unrestricted 70,236 Total Equity (add lines 130 through 133) This 134 total should be the same as line 333. Total Liabilities and Equity (add lines 126 and 1 34) This total should be the same as line 111. PART 1 Financial Statements Balance Sheet Governmental Funds Proprietary/Fiduciary Funds Total Equity (add lines 128 through 133) This total should be the same as line , ,614,359 *Indicate Name of Fund te: Attach additional sheets as necessary. Total Liabilities and Equity (add lines 126 and 1 34) This total should be the same as line 111. Please Check the box below to indicate the basis of accounting used to complete this form: Accrual Basis Cash Basis Is this a change from last year? PART 2 Financial Statements Operating Statement Revenue Governmental Funds Proprietary/Fiduciary Funds Page 2

4 Water Utility Fund* Fund* Fund* Fund* 21 Revenues and Other Financing Sources Revenues and Other Financing Sources 22 Taxes Taxes 23 Property Property 72, Specific Ownership Specific Ownership 10, Sales and Use Tax Sales and Use Tax 26 Other (specify) Other (specify) Licenses and Permits Licenses and Permits 211 Intergovernmental Intergovernmental 212 Highway User Tax Funds (HUTF) Highway User Tax Funds (HUTF) 213 Conservation Trust Funds (Lottery) Conservation Trust Funds (Lottery) 214 Community Development Block Grant Community Development Block Grant 215 Fire & Police Pension Fire & Police Pension 216 Grants Grants 217 Donations Donations 218 Other (specify) Other (specify) Charges for Sales and Services Charges for Sales and Services 136, Rental Income Rental Income 222 Fines and Forfeits Fines and Forfeits 223 Interest/Investment Income Interest/Investment Income 1, Tap Fees Tap Fees 30, Total Revenues (Add lines 23 through 225) Total Revenues (Add lines 23 through 225) 250, Other Financing Sources Other Financing Sources 228 Debt Proceeds Debt Proceeds 229 Proceeds from Sale of Capital Assets Proceeds from Sale of Capital Assets 230 Other (specify) Other (specify) Total Other Financing Sources (Add lines 228 through 230) Total Other Financing Sources (Add lines 228 through 230) 231 Total Revenues and Other Financing Sources (Add lines 226 and 231) Total Revenues and Other Financing Sources (Add lines 226 and 231) Total of All Funds , ,720 te: If Total Revenues and Other Financing Sources Total of All Funds (Line 232) are greater than 500,000 STOP, you may not use this form. An audit may be required. See Section C.R.S., or contact us at (303) for assistance. PART 3 Financial Statements Operating Statement Expenditures Governmental Funds Proprietary/Fiduciary Funds Water Utility Fund* Fund* Fund* Fund* 31 Expenditures Expenditures 32 General Government General Operating & Administrative 10, Judicial Salaries 34 Public Safety Payroll Taxes Total of All Funds Page 3

5 35 Law Enforcement Contract Services 26, Fire Employee Benefits 37 Other (specify) Insurance 38 Public Works Accounting and Legal Fees 13, Highways & Streets Repair and Maintenance 3, Solid Waste Supplies 17, Other (specify) Utilities 15, Health Contributions to FPPA 313 Culture and Recreation 314 Contributions to FPPA 2, Capital Outlay Capital Outlay 14, Debt Service Debt Service 317 Principal Principal 50, Interest Interest 65, Bond Issuance Costs Bond Issuance Costs 320 Other (specify) Other (specify) Total Expenditures (Add lines 32 through 322) Total Expenditures (Add lines 32 through 322) 219, , Net Interfund Transfers In (Out) Other (specify) County treasurer fees Net Interfund Transfers In (Out) Accrual Basis Reconciling Items Depreciation 29,854 Other Financing Sources (from line 231) Capital Outlay (from line 315) Debt Principal (from line 317) , ,000 Total Reconciling Items (Line 328, plus line 329, 330 less line 326, less line 327) 34,753 Excess (Deficiency) of Revenues and Other Financing Sources Over (Under) Expenditures (Line 232, less line 323, plus lines 324 through 3 Net Increase (Decrease) in Equity (Line 232, ) plus line 324, plus line 330, less line 323) 66,111 Fund Equity, January 1 from December 31 prior year report Fund Equity, December 31 (Line 331 plus line 3 32) This total should be the same as line 134. Fund Equity, January 1 from December 31 prior year report ,103 Fund Equity, December 31 (Line 331 plus line 3 32) This total should be the same as line ,214 te: If Total Expenditures Total of All Funds (Line 323) are greater than 500,000 STOP, you may not use this form. An audit may be required. See Section C.R.S., or contact us at (303) for assistance. Page 4

6 PART 4 DEBT OUTSTANDING, ISSUED AND RETIRED 41 Does the entity have debt? If yes: Is the debt repayment schedule attached? If no, please explain: Please complete the following debt schedule, if applicable Outstanding at beginning of fiscal year Total issued during fiscal year (add) Total retired during fiscal year (less) Total outstanding at fiscal year end Governmental (G) or Proprietary (P) General Obligation Bonds 1,474,000 50,000 1,424,000 P Revenue Bonds tes/loans Leases Developer Advances Other (specify): Total 1,474,000 50,000 1,424, Does the entity have authorized, but unissued debt? If yes: How much? 64,000 Date debt was authorized: 11/5/ Does the entity intend to issue debt within the next calendar year (2011)? If yes: How much? 44 Does the entity have debt that has been refinanced that it is still responsible for? If yes: What is the amount outstanding? 45 Does the entity have any lease agreements? If yes: What is being leased? What is the original date of the lease? Number of years of lease? Is the lease subject to annual appropriation? What are the annual lease payments? PART 5 CASH AND INVESTMENTS HELD AT END OF FISCAL YEAR Please provide the entity's cash deposit and investment balances Amount Total 51 Checking Accounts 92, Savings Accounts 53 Certificates of Deposit 29,672 Total Cash Deposits 122,247 Investments (if investment is a mutual fund, please list underlying investments): Total Investments Total Cash and Investments 122,247 Please answer the following question by marking in the appropriate box 58 Are the entity's deposits in an eligible (PDPA) public depository? (Section et. seq., C.R.S.) If no, please explain: PART 6 CAPITAL ASSETS 61 For Governmental Funds Land Buildings Machinery and Equipment Furniture and Fixtures Page 5 Beginning of the Year Additions Deletions End of Year Balance

7 Infrastructure Accumulated Depreciation Other Total for Governmental Funds 62 For Proprietary Funds Land Buildings Machinery and Equipment Furniture and Fixtures Infrastructure Accumulated Depreciation Other Water Rights Total for Proprietary Funds Beginning of the Year Additions Deletions End of Year Balance 25,151 25,151 23,382 14,607 37, , ,843 (19,441) (22,353) (41,794) 845, ,873 1,284,808 (7,746) 1,277,062 Please answer the following question by marking in the appropriate box 63 Has the entity performed an annual inventory of property and equipment (capital assets) in accordance with Section C.R.S.,? If no, please explain: PART 7 PENSION INFORMATION 71 Does the entity have an "old hire" fire pension plan? 72 Does the entity have a volunteer firemen's pension plan? If yes: Who administers the plan? Indicate the contributions from: Tax: (Property, SO, Sales, etc) State Contribution Amount: Other: (Gifts, Donations, etc) What is the monthly benefit paid for 20 years of service per retiree as of Jan 1st? PART 8 BUDGET INFORMATION 81 Did the entity file a 2010 budget with the Department of Local Affairs? If no, please explain: If yes: Please indicate the amount appropriated for each fund for 2010: Fund Name Water Fund Budgeted 2010 Expenditures 335,560 For reporting purposes the District's General,Cap Projects, & Debt Svc Funds are combined into a single Water Fund. The appropriations: 199,867, 20,100 & 115,593, respectively. 91 PART 9 TABOR Please answer the following question by marking in the appropriate box Is the entity in compliance with all the provisions of TABOR? [State Constitution Article, Section 20 (5)]? If no, please explain: te: An election to exempt the government from the spending limitations of TABOR does not exempt the government from the 3% emergency reserve requirement. All governments should determine if they meet this requirement of TABOR. PART 10 GENERAL INFORMATION 101 Is this entity a newly formed governmental entity? If yes: Date of formation: 102 Is this a metropolitan district? Page 6

8 103 The District provides for the financing, acquisition, extension, operation, and maintenance of a public water supply system for the use and benefit of all inhabitants and taxpayers of the District wihich is located in Elbert County, Colorado. 104 Does the entity have an agreement with another government entity to provide services? If yes: List the name of the other government entity and the services provided: 105 Has the district filed a Title 32, Article 1 Special District tice of Inactive Status during the year? (Applicable to Title 32 Special Districts only, pursuant to Section (9.3); (3), C.R.S.) N/A If yes: Date Filed: We, the undersigned, certify that this Application for Exemption from Audit has been: Prepared consistent with Section , C.R.S., which states that an application with revenues and expenditures at least 100,000 but not more than 500,000 must be prepared by an independent accountant with knowledge of governmental accounting. Completed to the best of our knowledge and is accurate and true. Personally reviewed and approved by a majority of the governing body. te: Please list all current members of the governing body. Original signatures must be provided for a majority of the governing body or a resolution may be provided in lieu of orginial signatures. (Please sign using blue ink.) Name (print names of all current members of the governing body) 1 Bruce L. McQuaid Les Aseere Bill Theisen Michael G. Allen Dick Bare PART 11 GOVERNING BODY APPROVAL Date Term Expires Original Signature (unless resolution is attached) Page 7

9