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 Doc ID: 2f2c4ed09d1e147924533c3662f8efd59c96304d 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 03 / 18 / 2024 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