HomeMy WebLinkAbout2023 BVMD1 - Annual Report 2023 Report Final2023
Annual Report of
Buckhorn Valley Metropolitan District No. 1
1. Annual Report. Pursuant to Section 32-l-207(3)(c), C.R.S., the Buckhorn
Valley Metropolitan Districts hereby files an annual consolidated report with the Town by
October 1 of each year. The report shall include:
(a) Boundary changes made;
No boundary change has occurred in the District in the year 2023.
(b) Intergovernmental agreements entered into or terminated with other
governmental entities (described below and attached);
1. Buckhorn Valley Metropolitan District No. 2
Agreement providing for the implementation of principals and
objectives stated in their Service Plan regarding financing,
construction, operation and maintenance of facilities and
administration of their affairs.
Term: Entered into on July 20, 2000, amended and restated on
March 3, 2003.
(c)
Access information to obtain a copy of rules and regulations adopted by the
board;
Please contact the District’s management or Legal Representative for
the following information:
Sarah Shepherd, District
Manager
303-482-1002 x 700
info@ccrider.us
Christine Gazda
Garfield & Hecht, P.C.
(970) 947-1936
CGazda@garfieldhecht.com
(d) A summary of litigation involving public improvements owned by
Buckhorn Valley Metropolitan District No. 1;
There is no litigation involving public improvements owned by
District No. 1. However, a suit filed by District No. 2 against District No. 1 and
individual board members, if successful, may implicate public
improvements. See Buckhorn Valley Metro. Dist. No. 2 v. Buckhorn Valley Metro.
Dist. No. 1, et al., Case No. 2022CV30208, Eagle County District Court.
Additionally, prior to filing suit and during the pendency of litigation, District
No. 2 has refused to pay to District No. 1 certain funds as required by the First
Amended District Facilities Construction and Service Agreement dated March
3, 2003 (“2003 Service Agreement”).
In its Complaint, as amended by the Court’s Order dismissing
District No. 2’s claims against individual board members, District No. 2 sought
declaratory judgment that the 2003 Service Agreement between the Districts is
void or voidable under Article XX, Section 10 of the Colorado Constitution,
known as the Taxpayers Bill of Rights (“TABOR”) and/or as an impermissible
delegation of legislative authority (First Cause of Action). District No. 2 also
sought a full accounting of District 1’s finances (Second Cause of Action);
damages for District No. 1’s alleged breach of the 2003 Service Agreement
(Third Cause of Action); judicial review under C.R.C.P. 106 of District No. 1’s
approval of what it calls the “Water Fee Dispute Letter Agreement” between
District No. 1 and BV Firewheel, LLC (Fifth Cause of Action); and a permanent
injunction against District No. 1 regarding said agreement and its alleged rate
setting (Sixth Cause of Action).
District No. 1 counterclaimed that District No. 2 breached the
2003 Service Agreement by passing a motion to terminate the 2003 Service
Agreement and by approving its budget with provisions that violate the
agreement. District No. 1 also sought declaratory judgment that District No. 2’s
actions violate the Service Plan and, therefore, C.R.S. § 32-1-207(1), as well as
injunctive relief to enjoin District 2 from violating the Service Plan and 2003
Service Agreement.
After a five-day jury trial at the end of June of 2024, the jury
found that District No. 1 breached the 2003 Service Agreement and awarded
damages to District No. 2 in the amount of $494,507.34. The Court denied
District No. 2’s First and Second Causes of Action, leaving only the Fifth and
Six Causes of Action remaining. The parties agreed to stay the litigation
pending settlement and are actively working toward a global settlement of all
disputed issues.
District No. 2 has appealed the Order dismissing the individual
defendants from the lawsuit and the Order denying its motion for summary
judgment. District No. 1 and the individual defendants have cross-appealed the
Court’s denial of District No. 1’s motion to dismiss, the Order denying the
individual defendants’ motion for attorneys’ fees and costs, District No. 1’s
motion for summary judgment, and the jury verdict and judgment in favor of
District No. 2.
(e) The status of the construction of public improvements by
Buckhorn Valley Metropolitan District No. 1;
During 2023 several repairs were made to the District’s
pumphouse, irrigation system and storage pond.
(f) A list of facilities or improvements constructed by Buckhorn
Valley Metropolitan District No. 1 that were conveyed or dedicated to the Town;
There were no facilities or improvements constructed in 2023 that were conveyed
or dedicated to the Town.
(g) The final assessed valuation of the Buckhorn Valley
Metropolitan District No.1 as of December 31 of the reporting year;
$49,790 (also included in the 2024 Budget attachment)
(h)A copy of the current year's budget;
Attached as requested for Budget year 2024.
(i)A copy of the audited financial statements;
Attached as requested is the Audit Exemption Application for
the December 31, 2023 Financial Statements.
(j)Notice of any uncured defaults existing for more than ninety days
under any debt instrument of the Buckhorn Districts; and
No uncured defaults exist under any debt instrument to report.
(k)Any inability of the Buckhorn Districts to pay their obligations as
they come due under any obligation which continues beyond a ninety-day period.
No inability to pay the District’s obligations exists to report.
BUCKHORN VALLEY METROPOLITAN DISTRICT ONE,
EAGLE COUNTY, COLORADO
c/o Circuit Rider of Colorado, LLC
P. O. Box 359
Littleton, CO 80160
303-482-1002
email: info@ccrider.us
January 30, 2024
Division of Local Government
1313 Sherman Street, Room 521
Denver, CO 80203
Re: Buckhorn Valley Metropolitan District 1 - 2024 Budget
Enclosed is the 2024 Budget for the Buckhorn Valley Metropolitan District 1, submitted in
accordance with §29-1-113(1), C.R.S. Also enclosed is a copy of the Certification of Tax Levies that
was filed with Eagle County.
Please contact me if you have any questions at 303-482-1002.
Sincerely,
Sarah E.E. Shepherd
District Manager
Attachments
2024 Budget Message and Budget
Budget Resolution/Certification
Certification for Tax Levies
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1
2024 BUDGET MESSAGE
Buckhorn Valley Metropolitan District No. 1 (District), a quasi-municipal corporation
and political subdivision of the State of Colorado was established on May 2, 2000 and is
governed pursuant to provisions of the Colorado Special District Act. The District’s
service area is located in an area of approximately 368 acres of land near the town of
Gypsum, in Eagle County, Colorado.
The District was established principally to provide financing, construction and operation
of the basic public infrastructure including streets, traffic and safety controls, street
lighting, water, sanitary sewer, storm drainage, landscaping, parks and recreation,
television relay and translator, and mosquito control to areas within and without the
boundaries of the District.
On May 2, 2000, the District’s voters authorized total general obligation indebtedness of
$19,090,000 for the above listed facilities and powers. The District’s voters also
authorized total indebtedness of $12,560,000 for the purpose of refunding outstanding
financial obligations of the District. The Service Plan, however, establishes a total debt
limit for the District of $26,000,000.
The District has 1 employee for irrigation repair services, and all operations and
administrative functions are contracted.
The District is not financially accountable for any other District organization nor is the
District a component unit of any other primary governmental entity.
The government-wide financial statements are reported using the economic resources
measurement focus and the modified accrual basis of accounting.
The District reports the following major governmental funds:
The General Fund is the District’s primary operating fund. It accounts for all financial
resources of the general fund, except those required to be accounted for in other funds.
Revenues include lot fees and service revenues from Buckhorn Valley Metropolitan
District No. 2.
The Enterprise Fund accounts for all financial resources related to irrigation water
services provided to the District’s area residents. The budget includes the costs for the
operation, repair and maintenance of these services.
The Capital Projects Fund accounts for all financial resources related to expenditures for
water rights and public improvements.
The District’s assessed valuation is $49,790.
The District has two leases: the water pumphouse and irrigation main computer shed, to
serve water the irrigation system and to operate the irrigation mainline.
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1
ALL FUNDS
2024 Proposed Budget
WITH 2021 AND 2022 ACTUAL AND 2023 ESTIMATED AMOUNTS
2021 2022 2023 2024
Actual Actual Estimated Proposed
REVENUES
Buckhorn Valley MD No. 2 service revenue 82,528 - - 151,560
Water service fees 392,547 297,110 370,000 375,000
Other revenues 2,625 27,663 4,200
Total revenues 477,700 324,773 374,200 526,560
EXPENDITURES
General fund 159,317 118,360 121,380 127,160
Enterprise fund 271,016 314,217 264,956 314,030
Capital projects fund 10,248 18,685 - -
Total expenditures 440,581 451,262 386,336 441,190
NET CHANGE IN FUND BALANCE 37,119 (126,489) (12,136) 85,370
BEGINNING FUND BALANCE 69,544 106,663 (19,826) (31,962)
ENDING FUND BALANCE 106,663$ (19,826)$ (31,962)$ 53,408$
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1
SUMMARY - ALL FUNDS
2024 ADOPTED BUDGET
WITH 2022 ACTUAL AND 2023 ESTIMATED AMOUNTS
FOR THE YEARS ENDED AND ENDING DECEMBER 31,
2021 2022 2023 2024
Actual Actual Estimated Proposed
REVENUES
Lot fees -$ -$ -$
Buckhorn Valley MD No. 2 service revenue 82,528 - - 151,560
Total revenues 82,528 - - 151,560
EXPENDITURES
Audit 12,350 - - -
District management and accounting 17,906 21,943 20,650 20,160
Due and licenses 973 874 875 1,500
Election 54,342 - - -
Insurance and bonds 7,758 6,446 9,500 9,500
Legal 48,983 59,012 75,000 75,000
Management, operations and supervision 16,972 - -
Miscellaneous 33 2,400 3,255 4,500
Park Maintenence 3,240 3,500
Storage lot - 24,445 5,000 5,000
Website maintenance - - - 5,000
Contingency 3% tabor reserve - - 3,600 6,500
Total expenditures 159,317 118,360 121,380 127,160
EXCESS OF EXPENDITURES OVER REVENUES (76,789) (118,360) (121,380) 24,400
OTHER FINANCING SOURCES
Transfers from other funds 75,500 64,124 - - -
Total other financing sources 75,500 64,124 - -
NET CHANGE IN FUND BALANCE (1,289) (54,236) (121,380) 24,400
BEGINNING FUND BALANCE 2,300 1,011 (53,225) (174,605)
ENDING FUND BALANCE 1,011$ (53,225)$ (174,605)$ (150,205)$
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1
GENERAL FUND
2024 ADOPTED BUDGET
WITH 2022 ACTUAL AND 2023 ESTIMATED AMOUNTS
FOR THE YEARS ENDED AND ENDING DECEMBER 31,
2021 2022 2023 2024
Actual Actual Estimated Proposed
REVENUES
Water service fees 392,547$ 297,110$ 370,000$ 375,000$
Other revenues 2,625 27,663 4,200
Total revenues 395,172 324,773 374,200 375,000
EXPENDITURES
General and administrative
District management and accounting 44,268 63,763 61,200 60,480
Dues and licenses 925 - 1,000 2,000
Insurance and bonds 7,757 7,578 7,450 8,000
Management, operations and supervision 36,884 - - -
Legal 22,848 25,712 9,013 15,000
Miscellaneous 199 2,043 3,000 3,000
Office expenses - - 1,500 1,750
Contingency - - 2,500 3,500
Total general and administrative 112,881 99,096 85,663 93,730
Operations and maintenance
Salaries 41,847 75,000 75,000 75,000
Payroll taxes 4,009 4,933 5,750 5,750
Employee benefits - - - 10,000
Utilities 9,814 8,407 9,650 12,250
Billing 16,131 14,865 15,000 19,200
Billing Associated Costs 568 548 3,600
811 Locate Services (Utilities)- 2,500
Engineering 5,932 11,980 15,000
Repairs and maintenance 32,984 44,526 29,115 35,000
Water system operations and maintenance 53,350 3,500 12,500 10,000
Total operations and maintenance 158,135 157,731 159,543 188,300
Capital
Water rights - - - 7,000
Capital outlay - 57,390 19,750 25,000
Total capital - 57,390 19,750 32,000
Total expenditures 271,016 314,217 264,956 314,030
EXCESS OF REVENUES OVER EXPENDITURES 124,156 10,556 109,244 60,970
OTHER FINANCING USES
Transfers to other funds (86,500) (64,124) - -
Total other financing uses (86,500) (64,124) - -
NET CHANGE IN FUND BALANCE 37,656 (53,568) 109,244 60,970
BEGINNING FUND BALANCE 128,638 166,294 112,726 221,970
ENDING FUND BALANCE 166,294$ 112,726$ 221,970$ 282,940$
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1
ENTERPRISE FUND
2024 ADOPTED BUDGET
WITH 2022 ACTUAL AND 2023 ESTIMATED AMOUNTS
FOR THE YEARS ENDED AND ENDING DECEMBER 31,
2021 2022 2023 2024
Actual Actual Estimated Proposed
REVENUES
Total revenues -$ -$ -$ -$
EXPENDITURES
General and administrative
Repairs and maintenance 9,889 - - -
Total general and administrative 9,889 - - -
Capital
Water rights - legal 359 18,685 - -
Water rights - management - - - -
Total capital 359 18,685 - -
Total expenditures 10,248 18,685 - -
EXCESS OF EXPENDITURES OVER REVENUES (10,248) (18,685) - -
OTHER FINANCING SOURCES
Transfer from other funds 11,000 - - -
Total other financing sources 11,000 - - -
NET CHANGE IN FUND BALANCE 752 (18,685) - -
BEGINNING FUND BALANCE (DEFICIT)(61,394) (60,642) (79,327) (79,327)
ENDING FUND BALANCE (DEFICIT)(60,642)$ (79,327)$ (79,327)$ (79,327)$
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1
CAPITAL PROJECTS FUND
2024 ADOPTED BUDGET
WITH 2022 ACTUAL AND 2023 ESTIMATED AMOUNTS
FOR THE YEARS ENDED AND ENDING DECEMBER 31,
BUDGET RESOLUTION
(2024)
CERTIFIED COPY OF RESOLUTION
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
At the joint special meeting of the Board of Directors of the Buckhorn Valley Metropolitan District No. 1,
County of Eagle, Colorado, held via a virtual meeting on November 9, 2023, at 5:30 p.m., there were present:
Nicholas Richards, President
Maxine Hepfer, Secretary/Treasurer
Anna Maria Ray, Assistant Secretary
John V. Hill, Assistant Secretary
Also present was Sarah Shepherd and Peter Kline, Circuit Rider of Colorado, and Christine Gazda, Garfield &
Hecht, PC.
The District Manager reported that, prior to the meeting, each of the directors were notified of the date,
time and place of this meeting and the purpose for which it was called. The District Manager further reported
that this is a special meeting of the Board of Directors of the District and that a notice of the meeting was posted
in accordance with statute, and to the best of their knowledge, remains posted to the date of this meeting.
Thereupon, Director Hill introduced and moved the adoption of the following Resolution:
Doc ID: f77e71918754c186dd56ae8f59e3b01159131345
RESOLUTION
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND,
ADOPTING A BUDGET, LEVYING PROPERTY TAXES FOR THE YEAR, AND APPROPRIATING
SUMS OF MONEY TO THE VARIOUS FUNDS IN THE AMOUNTS AND FOR THE PURPOSES SET
FORTH HEREIN FOR THE BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1, EAGLE
COUNTY, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF
JANUARY, 2024 AND ENDING ON THE LAST DAY OF DECEMBER, 2024.
WHEREAS, the Board of Directors (the “Board”) of the BUCKHORN VALLEY
METROPOLITAN DISTRICT NO. 1 (the “District”) has authorized its manager to prepare and submit a
proposed budget to said governing body no later than October 15, 2023; and
WHEREAS, the proposed 2024 budget has been submitted to the Board for its consideration; and
WHEREAS, upon due and proper notice, posted in accordance with Colorado law and published on
October 12, 2023 in The Vail Daily/Eagle Valley Enterprise, said proposed budget was open for inspection
by the public at a designated place, a public hearing was held at 5:30 p.m. on November 9, 2023, and
interested electors were given the opportunity to file or register any objections to said proposed budget; and
WHEREAS, the budget being adopted by the Board has been prepared based on the best information
available to the Board regarding the effects of Article X, Section 20 of the Colorado Constitution; 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
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1, EAGLE COUNTY, COLORADO, AS
FOLLOWS:
Section 1. Summary of 2024 Revenues and 2024 Expenditures. That the estimated revenues and
expenditures for each fund for fiscal year 2024, as more specifically set forth in the budget attached hereto,
are accepted and approved.
Section 2. Adoption of Budget. That the budget as submitted, or as amended, and attached
hereto and incorporated herein is approved and adopted as the budget of the District for fiscal year 2024
Doc ID: f77e71918754c186dd56ae8f59e3b01159131345
Section 3. 2023 Levy of General Property Taxes. The District is certifying 0.000 mills
generating $ 0.000 property tax revenue $0.00, and that the 2023 valuation for assessment, as
certified by the Eagle County Assessor, is $49,790.
Section 4. Certification to Board of County Commissioners. That the attorney,
accountant or manager for the District is hereby authorized and directed to certify to the Eagle
County Board of County Commissioners, no later than December 15, 2023, the mill levies for the
District hereinabove determined and set. That said certification shall be substantially in the same
form as attached hereto and incorporated herein by this reference.
Section 5. Appropriations. That the amounts set forth as expenditures and balances
remaining, as specifically allocated in the budget attached hereto, are hereby appropriated from the
revenue of each fund, to each fund, for the purposes stated and no other.
Section 6. Budget Certification. That the budget shall be certified by the
Secretary/Treasurer of the District, and made a part of the public records of the District.
The foregoing Resolution was seconded by Director Richards.
THIS RESOLUTION APPROVED AND ADOPTED ON NOVEMBER 9, 2023.
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1
ATTEST:
By:
Nicholas Richards, President
Maxine Hepfer, Secretary/Treasurer
Doc ID: f77e71918754c186dd56ae8f59e3b01159131345
STATE OF COLORADO
COUNTY OF EAGLE
BUCKHORN VALLEY METROPOLITAN DISTRICT NO. 1
I, Maxine Hepfer, hereby certify that I am a director and the duly elected and qualified
Secretary/Treasurer of the Buckhorn Valley Metropolitan District No. 1 (the “District”), and that
the foregoing constitutes a true and correct copy of the record of proceedings of the Board of
Directors of said District adopted at a special meeting of the Board of Directors of the District
held at 5:30 p.m. on November 9, 2023, via a virtual zoom meeting, as recorded in the official
record of the proceedings of the District, insofar as said proceedings relate to the budget hearing
for fiscal year 2024; that said proceedings were duly had and taken; that the meeting was duly
held; and that the persons were present at the meeting as therein shown.
Subscribed and sworn to this 9th day of November, 2023.
Maxine Hepfer, Secretary/Treasurer
Doc ID: f77e71918754c186dd56ae8f59e3b01159131345
EXHIBIT A
2024 BUDGET DOCUMENT & BUDGET MESSAGE FOR
BUCKHORN VALLEY METROPLITAN DISTRICT NO. 1
Doc ID: f77e71918754c186dd56ae8f59e3b01159131345
BVMD1 - 2024 Budget Resolution - URGENT
2024 Budget Resolution - BVMD1.pdf
f77e71918754c186dd56ae8f59e3b01159131345
MM / DD / YYYY
Signed
01 / 25 / 2024
16:24:54 UTC
Sent for signature to Nicholas Richards
(nrichards2859@gmail.com) and Maxine Hepfer
(mhepfer@hepferpp.com) from sees@ccrider.us
IP: 73.3.239.180
01 / 25 / 2024
16:25:31 UTC
Viewed by Nicholas Richards (nrichards2859@gmail.com)
IP: 76.155.31.158
01 / 25 / 2024
16:26:19 UTC
Signed by Nicholas Richards (nrichards2859@gmail.com)
IP: 76.155.31.158
01 / 26 / 2024
15:59:45 UTC
Viewed by Maxine Hepfer (mhepfer@hepferpp.com)
IP: 24.6.140.5
01 / 26 / 2024
16:01:50 UTC
Signed by Maxine Hepfer (mhepfer@hepferpp.com)
IP: 24.6.140.5
The document has been completed.01 / 26 / 2024
16:01:50 UTC
BVMD - 2024 Budget Hearing Notice - Page 1 of 2
Eagle Valley Enterprise and Vail Daily
200 Lindbergh Drive | Gypsum CO 81637
(970) 777-3126
I, Mark Wurzer, of lawful age, being duly sworn upon oath,
deposes and says that I am the Publisher of Eagle Valley
Enterprise and Vail Daily, a publication that is a "legal
newspaper" as that phrase is defined for the city of Gypsum, for
the County of Eagle, in the state of Colorado, that this affidavit is
Page 1 of 2 with the full text of the sworn-to notice set forth on
the pages that follow, and that the attachment hereto contains
the correct copy of what was published in said legal newspaper
in consecutive issues on the following dates:
PUBLICATION DATES:
Oct. 12, 2023
Notice ID: POWEH3d5O2iAbmFafXMB
Publisher ID: 295383
Notice Name: BVMD - 2024 Budget Hearing Notice
PUBLICATION FEE: $34.32
______________________________
Publisher
VERIFICATION
STATE OF COLORADO
COUNTY OF EAGLE
Signed or attested before me on this 12th day of October, 2023
______________________________
Notary Public
My Commission Expires: February 22. 2026
See Proof on Next
Page
AFFIDAVIT OF PUBLICATION
BVMD - 2024 Budget Hearing Notice - Page 2 of 2
Page 1 of 4 DLG 70 (Rev./)
County Tax Entity Code DOLA LGID/SID
CERTIFICATION OF TAX LEVIES for NON-SCHOOL Governments
TO: County Commissioners 1 of , Colorado.
On behalf of the ,
(taxing entity)A
the
(governing body)B
of the
(local government)C
Hereby officially certifies the following mills
to be levied against the taxing entity’s GROSS $
(GROSS D assessed valuation, Line 2 of the Certification of Valuation Form DLG 57 E)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:
$
(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:for budget/fiscal year .
(no later than Dec. 15) (mm/dd/yyyy) (yyyy)
PURPOSE (see end notes for definitions and examples)LEVY 2 REVENUE2
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): mills $
mills $
TOTAL: [ Sum of General Operating
Subtotal and Lines 3 to 7 ] mills $
Contact person: Phone: ( )
Signed: Title:
Survey Question: Does the taxing entity have voter approval to adjust the general
operating levy to account for changes to assessment rates? Yes No
Include one copy of this tax entity’s completed form when filing the local government’s budget by January 31st, per 29-1-113 C.R.S., with the
Division of Local Government (DLG), Room 521, 1313 Sherman Street, Denver, CO 80203. Questions? Call DLG at (303) 864-7720.
1 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).
Page 2 of 4 DLG 70 (Rev.
CERTIFICATION OF TAX LEVIES, continued
THIS SECTION APPLIES TO TITLE 32, ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES
FOR PAYMENT OF GENERAL OBLIGATION DEBT (32-1-1603 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 (32-1-1603, 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:
BONDSJ:
1. Purpose of Issue:
Series:
Date of Issue:
Coupon Rate:
Maturity Date:
Levy:
Revenue:
2. Purpose of Issue:
Series:
Date of Issue:
Coupon Rate:
Maturity Date:
Levy:
Revenue:
CONTRACTSK:
3. Purpose of Contract:
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 separately report all bond and contractual obligations per 32-1-1603, C.R.S.
Page 3 of 4 DLG 70 (Rev /)
Notes:
A Taxing Entity—A jurisdiction authorized by law to impose ad valorem property taxes on taxable property
located within its territorial limits (please see notes B, C, and H below). For purposes of the DLG 70 only, a
taxing entity is also a geographic area formerly located within a taxing entity’s boundaries for which the county
assessor certifies a valuation for assessment and which is responsible for payment of its share until retirement of
financial obligations incurred by the taxing entity when the area was part of the taxing entity. For example: an
area of excluded property formerly within a special district with outstanding general obligation debt at the time of
the exclusion or the area located within the former boundaries of a dissolved district whose outstanding general
obligation debt service is administered by another local governmentC.
B Governing Body—The board of county commissioners, the city council, the board of trustees, the board of
directors, or the board of any other entity that is responsible for the certification of the taxing entity’s mill levy.
For example: the board of county commissioners is the governing board ex officio of a county public
improvement district (PID); the board of a water and sanitation district constitutes ex officio the board of directors
of the water subdistrict.
C Local Government - For purposes of this line on Page 1of the DLG 70, the local government is the political
subdivision under whose authority and within whose boundaries the taxing entity was created. The local
government is authorized to levy property taxes on behalf of the taxing entity. For example, for the purposes of
this form:
1. a municipality is both the local government and the taxing entity when levying its own levy for its entire
jurisdiction;
2. a city is the local government when levying a tax on behalf of a business improvement district (BID)
taxing entity which it created and whose city council is the BID board;
3. a fire district is the local government if it created a subdistrict, the taxing entity, on whose behalf the fire
district levies property taxes.
4. a town is the local government when it provides the service for a dissolved water district and the town
board serves as the board of a dissolved water district, the taxing entity, for the purpose of certifying a
levy for the annual debt service on outstanding obligations.
D GROSS Assessed Value - There will be a difference between gross assessed valuation and net assessed
valuation reported by the county assessor only if there is a “tax increment financing” entity (see below), such as a
downtown development authority or an urban renewal authority, within the boundaries of the taxing entity. The
board of county commissioners certifies each taxing entity’s total mills upon the taxing entity’s Gross Assessed
Value found on Line 2 of Form DLG 57.
E Certification of Valuation by County Assessor, Form DLG 57 - The county assessor(s) uses this form (or one
similar) to provide valuation for assessment information to a taxing entity. The county assessor must provide this
certification no later than August 25th each year and may amend it, one time, prior to December 10th. Each entity
must use the FINAL valuation provided by assessor when certifying a tax levy.
F TIF Area—A downtown development authority (DDA) or urban renewal authority (URA), may form plan
areas that use “tax increment financing” to derive revenue from increases in assessed valuation (gross minus net,
Form DLG 57 Line 3) attributed to the activities/improvements within the plan area. The DDA or URA receives
the differential revenue of each overlapping taxing entity’s mill levy applied against the taxing entity’s gross
assessed value after subtracting the taxing entity’s revenues derived from its mill levy applied against the net
assessed value.
G NET Assessed Value—The total taxable assessed valuation from which the taxing entity will derive revenues
for its uses. It is found on Line 4 of Form DLG 57. Please Note: A downtown development authority (DDA)
may be both a taxing entity and have also created its own TIF area and/or have a URA TIF Area within the
DDA’s boundaries. As a result DDAs may both receive operating revenue from their levy applied to their
certified NET assessed value and also receive TIF revenue generated by any tax entity levies overlapping the
DDA’s TIF Area, including the DDA’s own operating levy.
Page 4 of 4 DLG 70 (Rev.)
H General Operating Expenses (DLG 70 Page 1 Line 1)—The levy and accompanying revenue reported on
Line 1 is for general operations and includes, in aggregate, all levies for and revenues raised by a taxing entity for
purposes not lawfully exempted and detailed in Lines 3 through 7 on Page 1 of the DLG 70. For example: a fire
pension levy is included in general operating expenses, unless the pension is voter-approved, if voter-approved,
use Line 7 (Other).
I Temporary Tax Credit for Operations (DLG 70 Page 1 Line 2)—The Temporary General Property Tax
Credit/ Temporary Mill Levy Rate Reduction of 39-1-111.5, C.R.S. may be applied to the taxing entity’s levy for
general operations to effect refunds. Temporary Tax Credits (TTCs) are not applicable to other types of levies
(non-general operations) certified on this form because these levies are adjusted from year to year as specified by
the provisions of any contract or schedule of payments established for the payment of any obligation incurred by
the taxing entity per 29-1-301(1.7), C.R.S., or they are certified as authorized at election per 29-1-302(2)(b),
C.R.S.
J General Obligation Bonds and Interest (DLG 70 Page 1 Line 3)—Enter on this line the total levy required to
pay the annual debt service of all general obligation bonds. Per 29-1-301(1.7) C.R.S., the amount of revenue
levied for this purpose cannot be greater than the amount of revenue required for such purpose as specified by the
provisions of any contract or schedule of payments. Title 32, Article 1 Special districts and subdistricts must
complete Page 2 of the DLG 70.
K Contractual Obligation (DLG 70 Page 1 Line 4)—If repayment of a contractual obligation with property tax
has been approved at election and it is not a general obligation bond (shown on Line 3), the mill levy is entered on
this line. Per 29-1-301(1.7) C.R.S., the amount of revenue levied for this purpose cannot be greater than the
amount of revenue required for such purpose as specified by the provisions of any contract or schedule of
payments.
L Capital Expenditures (DLG 70 Page 1 Line 5)—These revenues are not subject to the statutory property tax
revenue limit if they are approved by counties and municipalities through public hearings pursuant to 29-1-
301(1.2) C.R.S. and for special districts through approval from the Division of Local Government pursuant to 29-
1-302(1.5) C.R.S. or for any taxing entity if approved at election. Only levies approved by these methods should
be entered on Line 5.
M Refunds/Abatements (DLG 70 Page 1 Line 6)—The county assessor reports on the Certification of Valuation
(DLG 57 Line 11) the amount of revenue from property tax that the local government did not receive in the prior
year because taxpayers were given refunds for taxes they had paid or they were given abatements for taxes
originally charged to them due to errors made in their property valuation. The local government was due the tax
revenue and would have collected it through an adjusted mill levy if the valuation errors had not occurred. Since
the government was due the revenue, it may levy, in the subsequent year, a mill to collect the refund/abatement
revenue. An abatement/refund mill levy may generate revenues up to, but not exceeding, the refund/abatement
amount from Form DLG 57 Line 11.
1.Please Note: Pursuant to Article X, Section 3 of the Colorado Constitution, if the taxing entity is in more
than one county, as with all levies, the abatement levy must be uniform throughout the entity’s boundaries
and certified the same to each county. To calculate the abatement/refund levy for a taxing entity that is
located in more than one county, first total the abatement/refund amounts reported by each county
assessor, then divide by the taxing entity’s total net assessed value, then multiply by 1,000 and round
down to the nearest three decimals to prevent levying for more revenue than was abated/refunded. This
results in an abatement/refund mill levy that will be uniformly certified to all of the counties in which the
taxing entity is located even though the abatement/refund did not occur in all the counties.
N Other (DLG 70 Page 1 Line 7)—Report other levies and revenue not subject to 29-1-301 C.R.S. that were not
reported above. For example: a levy for the purposes of television relay or translator facilities as specified in
sections 29-7-101, 29-7-102, and 29-7-105 and 32-1-1005 (1) (a), C.R.S.; a voter-approved fire pension levy; a
levy for special purposes such as developmental disabilities, open space, etc.
here
--or--
For faster processing the web portal is the preferred method for submission
Any preparer of an Application for Exemption from Audit must be an independent accountant with knowledge of governmental accounting.
READ ALL INSTRUCTIONS BEFORE COMPLETING AND SUBMITTING THIS FORM
ALL APPLICATIONS MUST BE FILED WITH THE OSA WITHIN 3 MONTHS AFTER THE ACCOUNTING YEAR-END. FOR EXAMPLE, APPLICATIONS MUST BE RECEIVED BY THE OSA ON OR BEFORE MARCH 31 FOR GOVERNMENTS WITH
A DECEMBER 31 YEAR-END. APPLICATIONS FOR EXEMPTION FROM AUDIT SUBMISSIONS ARE NOT ELIGIBLE FOR AN EXTENSION OF TIME.
POSTMARK DATES WILL NOT BE ACCEPTED AS PROOF OF SUBMISSION ON OR BEFORE THE STATUATORY DEADLINE
Has the application been PERSONALLY reviewed and approved by the governing body?
Did you include any relevant explanations for unusual items in the appropriate spaces at the end of each section?
GOVERNMENTAL ACTIVITY SHOULD BE REPORTED ON THE MODIFIED ACCRUAL BASIS
PROPRIETARY ACTIVITY SHOULD BE REPORTED ON A BUDGETARY BASIS
Has the entity corrected all Prior Year Deficiencies as communicated by the OSA?
Have you included a resolution?
Has the preparer signed the application?
Will this application be submitted electronically?
Checkout our web portal. Register your
account and submit electronic Applications
for Exemption From Audit, Extension of
Time to File requests, Audited Financial
Statements, and more! See the link below.
If yes, have you read and understand the new Electronic Signature Policy? See new
policy
Are all sections of the form complete, including responses to all of the questions?
Denver, CO 80203
Does the resolution state that the governing body PERSONALLY reviewed and approved the resolution in an open public meeting?
Has the resolution been signed by a MAJORITY of the governing body? (See sample resolution.)
FILING METHODS
Will this application be submitted via a mail service? (e.g. US Post Office, FedEx, UPS, courier.)
If yes, does the application include ORIGINAL INK SIGNATURES from the MAJORITY of the governing body?
IMPORTANT!
Click here to go to the portal
1525 Sherman St., 7th Floor
QUESTIONS?
All Applications for Exemption from Audit are subject to review and approval by the Office of the State Auditor.
Failure to file an application or denial of the request could cause the local government to lose its exemption from audit for that year and the ensuing year.
In that event, AN AUDIT SHALL BE REQUIRED.
Please Note: The OSA's email addresses have changed as of December 1, 2023. Please ensure you are using the email address noted below.
Office of the State Auditor
WEB PORTAL:
Governmental Activity should be reported on the Modified Accrual Basis
Proprietary Activity should be reported on the Cash or Budgetary Basis -- A Budget to GAAP reconciliation is provided in Part 3
Local Government Audit Division
Email: osa.lg@coleg.gov or Phone: 303-869-3000
APPLICATION FOR EXEMPTION FROM AUDIT
LONG FORM
FOR LOCAL GOVERNMENTS WITH EITHER REVENUES OR EXPENDITURES MORE THAN $100,000 BUT NOT MORE THAN $750,000
Under the Local Government Audit Law (Section 29-1-601, et seq., C.R.S.) any local government may apply for an exemption from audit if neither revenues nor expenditures exceed $750,000 for the year.
If your local government has either revenues or expenditures of LESS than $100,000, use the SHORT FORM.
Approval for an exemption from audit is granted only upon the review by the OSA.
CHECKLIST
MAIL:
EXEMPTIONS FROM AUDIT ARE NOT AUTOMATIC
Register and submit your Applications at our web portal:https://apps.leg.co.gov/osa/lg
To qualify for exemption from audit, a local government must complete an Application for Exemption from Audit EACH YEAR and submit it to the Office of the State Auditor (OSA) for approval.
PRIOR YEAR FORMS ARE OBSOLETE AND WILL NOT BE ACCEPTED.
APPLICATIONS SUBMITTED ON FORMS OTHER THAN THOSE PRESCRIBED BY THE OSA WILL NOT BE ACCEPTED.
APPLICATIONS MUST BE FULLY AND ACCURATELY COMPLETED.
FOR YOUR REFERENCE, COLORADO REVISED STATUTES CAN BE FOUND AT THIS ADDRESS:
http://www.lexisnexis.com/hottopics/Colorado/
1
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
YES NO
Circuit Rider of Colorado
PO Box 359, Littleton, CO 80160
303.482.1002
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. I am aware that 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 $750,000, and that independent means someone who is separate from the entity.
CERTIFICATION OF PREPARER
info@ccrider.us
303.482.1002
Sarah Shepherd
EMAIL
Sarah Shepherd
District Manager
NAME:
CONTACT PERSON
PHONE
APPLICATION FOR EXEMPTION FROM AUDIT
LONG FORM
Buckhorn Valley Metropolitan District No. 1NAME OF GOVERNMENT
ADDRESS
RELATIONSHIP TO ENTITY Management Firm. Providing account services to the District
Has the entity filed for, or has the district filed, a Title 32, Article 1 Special District Notice of Inactive Status
during the year? [Applicable to Title 32 special districts only, pursuant to Sections 32-1-103 (9.3) and 32-1-
104 (3), C.R.S.]
12/31/23PO Box 359
For the Year Ended
or fiscal year ended:Littleton CO 80160
PREPARER (SIGNATURE REQUIRED)DATE PREPARED
1-Mar-24
TITLE
ADDRESS
FIRM NAME (if applicable)
PHONE
If Yes, date filed:
2
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
Line #Fund*Fund*Fund*Fund*
1-1 (70,133)$ -$ 73,826$ -$
1-2 -$ -$ -$ -$
1-3 -$ 43,710$ -$
1-4 199,030$ -$ 325,394$ -$
1-5 -$ -$
-$ -$
1-6 -$ -$ 442,930$ -$
1-7 -$ -$ -$ -$
1-8 -$ -$ -$ -$
1-9 -$ -$ -$ -$
1-10 -$ -$ -$ -$
1-11 128,897$ -$ 442,930$ -$
1-12 -$ -$ -$ -$
1-13 -$ -$ -$ -$
1-14 -$ -$ -$ -$
1-15 128,897$ -$ 442,930$ -$
1-16 7,886$ -$ 61,747$ -$
1-17 -$ -$ -$ -$
1-18 -$ -$ -$ -$
1-19 305,656$ -$ -$ -$
1-20 199,030$ -$ -$ -$
1-21 512,572$ -$ 61,747$ -$
1-22 -$ -$ -$ -$
1-23 -$ -$ -$ -$
1-24 -$ -$ -$ -$
1-25 -$ -$ -$ -$
1-26 -$ -$ -$ -$
1-27 512,572$ -$ 61,747$ -$
1-28 -$ -$ -$ -$
1-29 -$ -$ -$ -$
1-30 -$ -$ -$ -$
1-31 -$ -$ 1,282,888$ -$
1-32 -$ -$
1-33 -$ -$ -$ -$
1-34 -$ -$ -$ -$
1-35 -$ -$ -$ -$
1-36 -$ -$ 134,253$ -$
1-37
-$ -$ 1,417,141$ -$
1-38
512,572$ -$ 1,478,888$ -$
Net Position
Lease related (as lessor) Other [specify…]
Restricted [specify…]
Committed [specify…]
Accrued Interest Payable
Due to Other Entities or Funds
(add lines 1-21 through 1-26) TOTAL LIABILITIES
Deferred Property Taxes Pension/OPEB Related
(add lines 1-28 through 1-29) TOTAL DEFERRED INFLOWS
Fund Balance
(add lines 1-28 through 1-29) TOTAL DEFERRED INFLOWS
Deferred Inflows of Resources:Deferred Inflows of Resources
Other Designations/Reserves
Restricted
Add lines 1-31 through 1-36
This total should be the same as line 3-33
TOTAL FUND BALANCE
Add lines 1-31 through 1-36
This total should be the same as line 3-33
TOTAL NET POSITION
Add lines 1-27, 1-30 and 1-37
This total should be the same as line 1-15
TOTAL LIABILITIES, DEFERRED INFLOWS, AND FUND
BALANCE
Unassigned:
All Other Liabilities [specify…]
Other Current Assets [specify…]
Lease Receivable (as Lessor)
Assigned [specify…]
Emergency Reserves
Nonspendable Prepaid
Nonspendable Inventory
Net Investment in Capital and Right-to Use Assets
All Other Current Liabilities All Other Current Liabilities
Proprietary Debt Outstanding (from Part 4-4)
Other Liabilities [specify…]:
Due from Other Entities or Funds
(add lines 1-21 through 1-26) TOTAL LIABILITIES
PART 1 - FINANCIAL STATEMENTS - BALANCE SHEET
Investments
Receivables
Cash & Cash Equivalents Cash & Cash Equivalents
Investments
Receivables
* Indicate Name of Fund
NOTE: Attach additional sheets as necessary.
Governmental Funds
Please use this space to
provide explanation of any
items on this pageAssets
Due from Other Entities or Funds
Capital & Right to Use Assets, net (from Part 6-4)
Description
Total Current Assets
All Other Assets [specify…]
Liabilities
TOTAL ASSETS AND DEFERRED OUTFLOWS
[specify…]
[specify…]
[specify…]
[specify…]
Property Tax Receivable
(add lines 1-1 through 1-10) TOTAL ASSETS (add lines 1-1 through 1-10) TOTAL ASSETS
(add lines 1-16 through 1-20) TOTAL CURRENT LIABILITIES
Liabilities
Deferred Outflows of Resources:
TOTAL ASSETS AND DEFERRED OUTFLOWS
Accounts Payable
Accrued Payroll and Related Liabilities
Unearned Revenue
Due to Other Entities or Funds
Deferred Outflows of Resources
(add lines 1-16 through 1-20) TOTAL CURRENT LIABILITIES
(add lines 1-12 through 1-13) TOTAL DEFERRED OUTFLOWS (add lines 1-12 through 1-13) TOTAL DEFERRED OUTFLOWS
Accrued Payroll and Related Liabilities
Proprietary/Fiduciary Funds
Description
Accounts Payable
Other Long Term Assets [specify…]
Assets
Undesignated/Unreserved/Unrestricted
Add lines 1-27, 1-30 and 1-37
This total should be the same as line 1-15
TOTAL LIABILITIES, DEFERRED INFLOWS, AND NET
POSITION
3
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
Line #Fund*Fund*Fund*Fund*
2-1 -$ -$ -$ -$
2-2 -$ -$ -$ -$
2-3 -$ -$ -$ -$
2-4 -$ -$ -$ -$
2-5 -$ -$ -$ -$
2-6 -$ -$ -$ -$
2-7 -$ -$ -$ -$
2-8 -$ -$ -$ -$
2-9 -$ -$ -$ -$
2-10 -$ -$ -$ -$
2-11 -$ -$ -$ -$
2-12 -$ -$ -$ -$
2-13 -$ -$ -$ -$
2-14 -$ -$ -$ -$
2-15 -$ -$ -$ -$
2-16 90,668$ -$ 345,305$ -$
2-17 -$ -$ -$ -$
2-18 -$ -$ -$ -$
2-19 -$ -$ -$ -$
2-20 -$ -$ -$ -$
2-21 -$ -$
2-22 -$ -$ -$ -$
2-23 -$ -$ -$ -$
2-24 90,668$ -$ 345,305$ -$
2-25 -$ -$ -$ -$
2-26 -$ -$ Lease Proceeds -$ -$
2-27 -$ -$ Developer Advances -$ -$
2-28 -$ -$ Other [specify…]:-$ -$
2-29
-$ -$ -$ -$ GRAND TOTALS
2-30
90,668$ -$ 345,305$ -$ $ 435,973
Grants
Rental Income
Fines and Forfeits
Grants
Rental Income
Add lines 2-8 through 2-23
TOTAL REVENUES
Add lines 2-8 through 2-23
TOTAL REVENUES
Proceeds from Sale of Capital Assets Proceeds from Sale of Capital Assets
All Other [specify…]: All Other [specify…]:
Tap Fees
Fire & Police Pension
Highway Users Tax Funds (HUTF)
Tax Revenue
Other Tax Revenue [specify…]:
Property [include mills levied in Question 10-6]
Sales and Use Tax
PART 2 - FINANCIAL STATEMENTS - OPERATING STATEMENT - REVENUES
Proprietary/Fiduciary Funds
Tax Revenue
Description Description
Property [include mills levied in Question 10-6]
Specific Ownership
Please use this space to
provide explanation of any
items on this page
Community Development Block Grant
Donations Donations
Add lines 2-25 through 2-28
TOTAL OTHER FINANCING SOURCES
Add lines 2-25 through 2-28
TOTAL OTHER FINANCING SOURCES
Add lines 2-24 and 2-29
TOTAL REVENUES AND OTHER FINANCING SOURCES
Add lines 2-24 and 2-29
TOTAL REVENUES AND OTHER FINANCING SOURCES
Community Development Block Grant
Developer Advances
Other [specify…]:
Fines and Forfeits
Debt Proceeds
Other Financing Sources
Fire & Police Pension
Tap Fees
IF GRAND TOTAL REVENUES AND OTHER FINANCING SOURCES for all funds (Line 2-29) are GREATER than $750,000 - STOP. You may not use this form. An audit may be required. See Section 29-1-604, C.R.S., or contact the OSA
Local Government Division at (303) 869-3000 for assistance.
Add lines 2-1 through 2-7
TOTAL TAX REVENUE
Add lines 2-1 through 2-7
TOTAL TAX REVENUE
Other Tax Revenue [specify…]:
Governmental Funds
Sales and Use Tax
Licenses and Permits
Specific Ownership
Licenses and Permits
Charges for Sales and Services
Interest/Investment Income
Charges for Sales and Services
Interest/Investment Income
Other Financing Sources
Debt Proceeds
Lease Proceeds
Highway Users Tax Funds (HUTF)
Conservation Trust Funds (Lottery) Conservation Trust Funds (Lottery)
4
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
Line #Fund*Fund*Fund*Fund*
3-1 136,744$ 20,976$ 34,455$ -$
3-2 -$ -$ 68,750$ -$
3-3 -$ -$ 5,301$ -$
3-4 -$ -$ 14,400$ -$
3-5 -$ -$ -$ -$
3-6 -$ -$ -$ -$
3-7 -$ -$ 30,665$ -$
3-8 -$ -$ 60,343$ -$
3-9 -$ -$ 758$ -$
3-10 -$ -$ 7,518$ -$
3-11 -$ -$ -$ -$
3-12 -$ -$ -$ -$
3-13 -$ -$ -$ -$
3-14 -$ -$ -$ -$
3-15 -$ -$ -$ -$
3-16 -$ -$ -$ -$
3-17 -$ -$ -$ -$
3-18 -$ -$ -$ -$
3-19 Developer Interest Repayments -$ -$ Developer Interest Repayments -$ -$
3-20 -$ -$ -$ -$
3-21 -$ -$ -$ -$ GRAND TOTAL
3-22 136,744$ 20,976$ 222,190$ -$ 379,910$
3-23 (136,744)$ (20,976)$ 157,720$ -$
3-24 -$ -$ -$ -$
3-25 -$ -$ -$ -$
3-26 -$ -$ -$ -$
3-27 -$ -$ -$ -$
3-28 -$ -$ -$ -$
3-29
(136,744)$ (20,976)$ -$ -$
3-30
90,668$ -$ (34,605)$ -$
3-31
29,059$ -$ 1,611,772$ -$
3-32 Prior Period Adjustment (MUST explain)-$ -$ Prior Period Adjustment (MUST explain)-$ -$
3-33
119,727$ -$ 1,577,167$ -$
Net Interfund Transfers (In) Out
Other Expenditures (Revenues):
Interfund Transfers Out
Utilities
Principal (should match amount in 4-4)
Interest
Payroll Taxes
Please use this space to
provide explanation of any
items on this page
Developer Principal Repayments
Bond Issuance Costs
General Government
Contract Services
Employee Benefits
Accounting and Legal Fees
Supplies
Debt Service Debt Service
Expenses
General Operating & Administrative
Salaries
Highways & Streets
Expenditures
Capital Outlay
(Line 3-27, plus line 3-28, less line 3-26, less line 3-25, plus
line 3-24) TOTAL GAAP RECONCILING ITEMS
Net Position, January 1 from December 31 prior year
report
Excess (Deficiency) of Revenues and Other Financing
Sources Over (Under) Expenditures
Line 2-29, less line 3-22, less line 3-29
Net Increase (Decrease) in Net Position
Line 2-29, less line 3-22, plus line 3-29, less line 3-23
Fund Balance, December 31
Sum of Lines 3-30, 3-31, and 3-32
This total should be the same as line 1-37.
Net Position, December 31
Sum of Lines 3-30, 3-31, and 3-32
This total should be the same as line 1-37.
IF GRAND TOTAL EXPENDITURES for all funds (Line 3-22) are GREATER than $750,000 - STOP. You may not use this form. An audit may be required. See Section 29-1-604, C.R.S., or contact the OSA Local Government Division at
(303) 869-3000 for assistance.
Judicial
Law Enforcement
Contributions to Fire & Police Pension Assoc.
Governmental Funds
PART 3 - FINANCIAL STATEMENTS - OPERATING STATEMENT - EXPENDITURES/EXPENSES
Solid Waste
Interest
Description
Capital Outlay
Bond Issuance Costs
Developer Principal Repayments
Principal (should match amount in 4-4)
Other [specify...][enter negative for expense]
Capital Outlay (from line 3-14)
Debt Principal (from line 3-15, 3-18)
Depreciation/Amortization
Other Financing Sources (Uses) (from line 2-28)
Add lines 3-1 through 3-21
TOTAL EXPENDITURES
Add lines 3-1 through 3-21
TOTAL EXPENSES
All Other [specify...]: All Other [specify...]:
Interfund Transfers (In)
(Add lines 3-23 through 3-28) TOTAL
TRANSFERS AND OTHER EXPENDITURES
Fund Balance, January 1 from December 31 prior year report
Proprietary/Fiduciary Funds
Repair and Maintenance
Description
Transfers to other districts
Other [specify…]: Contributions to Fire & Police Pension Assoc.
Fire
Health
Culture and Recreation
Other [specify…]
Insurance
5
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
YES NO
4-1
4-2
4-3
4-4
Outstanding at
beginning of year*
Issued during
year
Retired during
year Outstanding at year-end
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
*Must agree to prior year-end balance
YES NO
4-5
-$
4-6 Does the entity intend to issue debt within the next calendar year?
If yes:-$
4-7 Does the entity have debt that has been refinanced that it is still responsible for?
If yes:-$
4-8
-$
AMOUNT TOTAL
5-1 3,693$
5-2 -$
3,693$
-$
-$
-$
-$
-$
3,693$
YES NO N/A
5-4
5-5
Is the entity current in its debt service payments? If no, MUST explain:
TOTAL
Developer Advances
Other (specify):
The District has no debt
Please answer the following questions by marking the appropriate boxes.
PART 4 - DEBT OUTSTANDING, ISSUED, AND RETIRED
Please use this space to provide any explanations or comments:
General obligation bonds
Revenue bonds
Does the entity have outstanding debt?
If yes:
Does the entity have any authorized, but unissued, debt [Section 29-1-605(2) C.R.S.]?
Please answer the following questions by marking the appropriate boxes.
**Subscription Based Information Technology Arrangements
Notes/Loans
How much?
How much?
What are the annual lease payments?
Does the entity have any lease agreements?
If yes:
Lease & SBITA** Liabilities (GASB 87 & 96)
The District has no debt
Is the debt repayment schedule attached? If no, MUST explain:
Date the debt was authorized:
What is the amount outstanding?
Certificates of deposit
TOTAL CASH DEPOSITS
Investments (if investment is a mutual fund, please list underlying investments):
Are the entity's deposits in an eligible (Public Deposit Protection Act) public depository (Section 11-
10.5-101, et seq. C.R.S.)? If no, MUST explain:
Please provide the entity's cash deposit and investment balances.
What is being leased?
What is the original date of the lease?
Number of years of lease?
Is the lease subject to annual appropriation?
Please complete the following debt schedule, if applicable: (please only include principal
amounts)
Please use this space to provide any explanations or comments:
PART 5 - CASH AND INVESTMENTS
5-3
Are the entity's Investments legal in accordance with Section 24-75-601, et. seq., C.R.S.?
YEAR-END Total of ALL Checking and Savings accounts
Please answer the following question by marking in the appropriate box
TOTAL INVESTMENTS
TOTAL CASH AND INVESTMENTS
6
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
YES NO
6-1
6-2
6-3 Balance -
beginning of the
year*
Additions*Deletions Year-End Balance
198,500$ -$ -$ 198,500$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
Leased & SBITA Right-to-Use Assets -$ -$ -$ -$
Intangible Assets -$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
198,500$ -$ -$ 198,500$
6-4
Balance -
beginning of the
year*
Additions*Deletions Year-End Balance
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
Leased & SBITA Right-to-Use Assets -$ -$ -$ -$
Intangible Assets -$ -$ -$ -$
3,510,794$ -$ -$ 3,510,794$
-$ -$ -$ -$
(2,121,445)$ (106,460)$ -$ (2,227,905)$
1,389,349$ (106,460)$ -$ 1,282,889$
YES NO
7-1
7-2
If yes:
-$
-$
-$
-$
-$
Please use this space to provide any explanations or comments:
Construction In Progress (CIP)
Please answer the following question by marking in the appropriate box
Does the entity have capitalized assets?
TOTAL
Complete the following Capital & Right-To-Use Assets table for PROPRIETARY FUNDS:
Land
Complete the following Capital & Right-To-Use Assets table for GOVERNMENTAL FUNDS:
Land
Accumulated Amortization Right to Use Assets (Enter a negative, or credit, balance)
Infrastructure
Furniture and fixtures
Other (explain): Water Rights & Irrigation System
Accumulated Depreciation (Enter a negative, or credit, balance)
PART 6 - CAPITAL AND RIGHT-TO-USE ASSETS
Machinery and equipment
Machinery and equipment
Has the entity performed an annual inventory of capital assets in accordance with Section 29-1-506, C.R.S.? If no,
MUST explain:
Furniture and fixtures
Infrastructure
Construction In Progress (CIP)
Other (explain):
Buildings
Accumulated Depreciation (Enter a negative, or credit, balance)
Buildings
Accumulated Amortization Right to Use Assets (Enter a negative, or credit, balance)
Please use this space to provide any explanations or comments:
Does the entity have an "old hire" firefighters' pension plan?
Who administers the plan?
PART 7 - PENSION INFORMATION
Indicate the contributions from:
State contribution amount:
Other (gifts, donations, etc.):
Tax (property, SO, sales, etc.):
TOTAL
What is the monthly benefit paid for 20 years of service per retiree as of Jan 1?
TOTAL
* Must agree to prior year-end balance
* Generally capital asset additions should be reported at capital outlay on line 3-14 and capitalized
in accordance with the government's capitalization policy. Please explain any discrepancy
Does the entity have a volunteer firefighters' pension plan?
*
7
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YES NO N/A
8-1
8-2
If yes:
YES NO
9-1
YES NO
10-1
If yes:
10-2
If Yes:NEW name
PRIOR name
10-3
10-4
10-5
If yes:
10-6
If yes:
Total mills
YES NO N/A
10-7
Please use this space to provide any explanations or comments:
NEW 2023! If the entity is a Title 32 Special District formed on or after 7/1/2000, has the entity filed its
preceding year annual report with the State Auditor as required under SB 21-262 [Section 32-1-207
C.R.S.]? If NO, please explain.
Please answer the following question by marking in the appropriate box
Did the entity file a current year budget with the Department of Local Affairs, in accordance with
Section 29-1-113 C.R.S.? If no, MUST explain:
PART 9 - TAX PAYER'S BILL OF RIGHTS (TABOR)
Did the entity pass an appropriations resolution in accordance with Section 29-1-108 C.R.S.?
If no, MUST explain:
Please answer the following question by marking in the appropriate box Please use this space to provide any explanations or comments:
Is the entity in compliance with all the provisions of TABOR [State Constitution, Article X, Section 20(5)]?
Note: An election to exempt the government from the spending limitations of TABOR does not exempt the government from the 3 percent emergency reserve
requirement. All governments should determine if they meet this requirement of TABOR.
Please use this space to provide any explanations or comments:
Please indicate the amount appropriated for each fund separately for the year reported
Please use this space to provide any additional explanations or comments not previously included:
Please indicate what services the entity provides:
0.000
Please provide the number of mills levied for the year reported (do not enter $ amounts):
-$
Governmental/Proprietary Fund Name Total Appropriations By Fund
PART 10 - GENERAL INFORMATION
General 151,560$
Enterprise 375,000$
Capital
Date of formation:
Has the entity changed its name in the past or current year?
Please answer the following question by marking in the appropriate box
-$
PART 8 - BUDGET INFORMATION
Is this application for a newly formed governmental entity?
Is the entity a metropolitan district?
Does the entity have an agreement with another government to provide services?
Does the entity have a certified mill levy?
Bond Redemption mills
General/Other mills
0.000
0.000
List the name of the other governmental entity and the services provided:
8
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
Entity Wide:General Fund Governmental Funds Notes
Unrestricted Cash & Investments Unrestricted Fund Balance Total Tax Revenue
Current Liabilities Total Fund Balance Revenue Paying Debt Service
Deferred Inflow PY Fund Balance Total Revenue
Total Revenue Total Debt Service Principal
Total Expenditures Total Debt Service Interest
Total Assets
Total Liabilities
Governmental Interfund In
Total Cash & Investments Interfund Out Enterprise Funds
Transfers In Proprietary Net Position
Transfers Out Current Assets PY Net Position
Property Tax Deferred Outflow Government-Wide
Debt Service Principal Current Liabilities Total Outstanding Debt
Total Expenditures Deferred Inflow Authorized but Unissued
Total Developer Advances Cash & Investments Year Authorized
Total Developer Repayments Principal Expense
128,897$
512,572$
61,747$
-$
-$
442,930$
-$
(70,133)$
-$
90,668$
3,693$
574,319$
-$
-$
-$
29,059$
-$
90,668$
-$
-$
(136,744)$
-$
-$ -$
1/0/00
-$
-$
(157,720)$
-$
157,720$
1,577,167$
1,611,772$
73,826$
-$
OSA USE ONLY
136,744$
-$
9
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
YES NO
12-1
MUST Print the names of ALL members of the governing body below.
7
6
Full Name
Full Name
Nicholas Richards
4
Full Name
Anna Maria Ray
3
5
Below is the certification and approval of the governing body By signing, each individual member is certifying they are a duly elected or appointed officer of the local government. Governing members may be verified. Also by signing, the individual member certifies that this
Application for Exemption from Audit has been prepared consistent with Section 29-1-604, C.R.S., which states that a governmental agency with revenue and expenditures of $750,000 or less must have an application prepared by an independent accountant with knowledge
of governmental accounting; completed to the best of their knowledge and is accurate and true. Use additional pages if needed.
A MAJORITY of the members of the governing body must sign below.
PART 12 - GOVERNING BODY APPROVAL
If you plan to submit this form electronically, have you read the new Electronic Signature Policy?
Please answer the following question by marking in the appropriate box
Office of the State Auditor — Local Government Division - Exemption Form Electronic Signatures Policy and Procedures
Policy - Requirements
The Office of the State Auditor Local Government Audit Division may accept an electronic submission of an application for exemption from audit that includes governing board signatures obtained through a program such as Docusign or Echosign.
Required elements and safeguards are as follows:
• The preparer of the application is responsible for obtaining board signatures that comply with the requirement in Section 29-1-604 (3), C.R.S., that states the application shall be personally reviewed, approved, and signed by a majority of the members
of the governing body.
• The application must be accompanied by the signature history document created by the electronic signature software. The signature history document must show when the document was created and when the document was emailed to the various
parties, and include the dates the individual board members signed the document. The signature history must also show the individuals' email addresses and IP address.
• Office of the State Auditor staff will not coordinate obtaining signatures.
The application for exemption from audit form created by our office includes a section for governing body approval. Local governing boards note their approval and submit the application through one of the following three methods:
1) Submit the application in hard copy via the US Mail including original signatures.
2) Submit the application electronically via email and either,
a. Include a copy of an adopted resolution that documents formal approval by the Board, or
b. Include electronic signatures obtained through a software program such as Docusign or Echosign in accordance with the requirements noted above.
1
Full Name
Vacancy
2
Full Name I, ___Maxine Hepfer______________________, attest that I am a duly elected or appointed board member, and that I have
personally reviewed and approve this application for exemption from audit.
Signed__________________________________ Date: _____________________
My term Expires: May 2025_____________
Maxine Hepfer
John Hill
Full Name I, __John Hill___________________________, attest that I am a duly elected or appointed board member, and that I have
personally reviewed and approve this application for exemption from audit.
Signed__________________________________ Date: _____________________
My term Expires: May 2025____________
Full Name I, ______________________________________, attest that I am a duly elected or appointed board member, and that I have
personally reviewed and approve this application for exemption from audit.
Signed__________________________________ Date: _____________________
My term Expires:______________________
I, ______________________________________, attest that I am a duly elected or appointed board member, and that I have
personally reviewed and approve this application for exemption from audit.
Signed__________________________________ Date: _____________________
My term Expires:______________________
I, ______________________________________, attest that I am a duly elected or appointed board member, and that I have
personally reviewed and approve this application for exemption from audit.
Signed__________________________________ Date: _____________________
My term Expires:______________________
I, _Anna Maria Ray______________________, attest that I am a duly elected or appointed board member, and that I have
personally reviewed and approve this application for exemption from audit.
Signed__________________________________ Date: _____________________
My term Expires:_May 2025_____________
I, __Nicholas Richards___________________, attest that I am a duly elected or appointed board member, and that I have
personally reviewed and approve this application for exemption from audit.
Signed__________________________________ Date: _____________________
My term Expires: May 2025______________
10
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03 / 18 / 2024
03 / 18 / 2024
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
This sample resolution/ordinance for exemption from audit is provided as an example of the documentation that is required, the wording may be used as a basis for your own local government document, if needed, however you MUST draft your own
ordinance or resolution making any changes where applicable. Legal counsel should be consulted regarding any questions.
EXAMPLE - DO NOT FILL OUT THIS PAGE
________________________
Mayor/President/Chairman, etc.
ATTEST:
________________________
Town Clerk, Secretary, etc.
Date
Type or Print Names of Term
Members of Governing Body Expires Signature
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
SAMPLE SAMPLE
RESOLUTION/ORDINANCE FOR EXEMPTION FROM AUDIT
(Pursuant to Section 29-1-604, C.R.S.)
A RESOLUTION/ORDINANCE APPROVING AN EXEMPTION FROM AUDIT FOR YEAR 20XX FOR THE (name
of government), STATE OF COLORADO.
WHEREAS, the (governing body) of (name of government) wishes to claim exemption from the audit requirements of
Section 29-1-603, C.R.S.; and
WHEREAS, Section 29-1-604, C.R.S., states that any local government where neither revenues nor expenditures exceed
seven hundred and fifty thousand dollars may, with the approval of the State Auditor, be exempt from the provision of
Section 29-1-603, C.R.S.; and
[Choose 1 or 2 below, whichever is applicable]
(1)WHEREAS, neither revenue nor expenditures for (name of government) exceeded $100,000 for Year 20XX; and
WHEREAS, an application for exemption from audit for (name of government) has been prepared by (name of
individual), a person skilled in governmental accounting; and
OR
(2)WHEREAS, neither revenues nor expenditures for (name of government) exceeded $750,000 for Year 20XX; and
WHEREAS, an application for exemption from audit for (name of government) has been prepared by (name of
individual or firm), an independent accountant with knowledge of governmental accounting; and
WHEREAS, said application for exemption from audit has been completed in accordance with regulations, issued by the
State Auditor.
NOW THEREFORE, be it resolved/ordained by the (governing body) of the (name of government) that the application
for exemption from audit for (name of government) for the year ended ____________, 20XX, has been personally
reviewed and is hereby approved by a majority of the (governing body) of the (name of government); that those
members of the (governing body) have signified their approval by signing below; and that this resolution shall be
attached to, and shall become a part of, the application for exemption from audit of the (name of government) for the
year ended ____________, 20XX.
ADOPTED THIS ___ day of _____________, A.D. 20XX.
11
Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d
BVMD1 - 2023 Audit Exemption - URGENT
BVMD1- Long Form Audit Report-2023.pdf
2f2c4ed09d1e147924533c3662f8efd59c96304d
MM / DD / YYYY
Pending signature
03 / 18 / 2024
19:04:38 UTC
Sent for signature to John V. Hill (jvhill@hill-co.org),
Maxine Hepfer (mhepfer@hepferpp.com), Nicholas Richards
(nrichards2859@gmail.com) and AnnaMaria Ray
(ray.annamaria@yahoo.com) from sees@ccrider.us
IP: 73.95.154.42
03 / 18 / 2024
19:06:10 UTC
Viewed by Maxine Hepfer (mhepfer@hepferpp.com)
IP: 174.249.153.131
03 / 18 / 2024
19:06:48 UTC
Viewed by John V. Hill (jvhill@hill-co.org)
IP: 99.25.49.58
03 / 18 / 2024
19:15:17 UTC
Signed by Maxine Hepfer (mhepfer@hepferpp.com)
IP: 174.249.153.131
03 / 18 / 2024
19:35:12 UTC
Viewed by Nicholas Richards (nrichards2859@gmail.com)
IP: 71.24.157.9
03 / 18 / 2024
19:35:39 UTC
Signed by Nicholas Richards (nrichards2859@gmail.com)
IP: 71.24.157.9
03 / 18 / 2024
21:02:20 UTC
Viewed by AnnaMaria Ray (ray.annamaria@yahoo.com)
IP: 73.34.195.174
03 / 18 / 2024
21:03:12 UTC
Signed by AnnaMaria Ray (ray.annamaria@yahoo.com)
IP: 73.34.195.174
This document has not been fully executed by all signers.03 / 18 / 2024
21:03:12 UTC
BVMD1 - 2023 Audit Exemption - URGENT
BVMD1- Long Form Audit Report-2023.pdf
2f2c4ed09d1e147924533c3662f8efd59c96304d
MM / DD / YYYY
Pending signature