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HomeMy WebLinkAbout2023 ACCMD Annual Report 09-26-2024{00930563.DOCX / }
AIRPORT COMMERECE CENTER METROPOLITAN DISTRICT
TOWN OF GYPSUM, EAGLE COUNTY, COLORADO
2023 ANNUAL REPORT
Town of Gypsum, Colorado
via Email
County Clerk and Recorder
Eagle County, Colorado
via Email
Office of the State Auditor
1525 Sherman Street, 7th Floor
Denver, Colorado 80203
via E-Filing Portal
Division of Local Government
1313 Sherman Street, Room 521
Denver, Colorado 80203
via E-Filing Portal
Pursuant to Section 32-1-207(3)(c)(I), C.R.S., the Airport Commerce Center Metropolitan
District (the “District”) is required to submit an annual report for the preceding calendar year (the
“Report”) no later than October 1 of each year to the Town of Gypsum, Colorado (the “Town”),
the Colorado Division of Local Government, the Colorado State Auditor, the County Clerk and
Recorder; the Report must also be posted on the District’s website, if available.
For the year ending December 31, 2023, the District makes the following report:
1.Boundary changes made:
There were no Boundary changes made or proposed during 2023.
2.Intergovernmental agreements entered into or terminated:
There were no Intergovernmental agreements entered into or terminated
during 2023.
3.Access information to obtain a copy of the Rules and Regulations:
The District has not adopted any rules or regulations as of December 31,
2023.
4.A summary of any litigation involving public improvements by the District:
To the best of our knowledge, there is no litigation involving the District’s
public improvements as of December 31, 2023.
5.Status of the construction of public improvements by the District:
The District did not undertake construction of any Public Improvements in
2023.
{00930563.DOCX / } 2
6. List of facilities or improvements constructed by the District that were
conveyed to the Town:
There were no facilities or improvements conveyed to or accepted by
Town in 2023.
7. Final Assessed Value of Taxable Property within the District’s boundaries as
of December 31, 2023:
The 2023 total assessed value of taxable property within the boundaries of
the District is $7,188,630.
8. Current annual budget of the District:
Attached as Exhibit A is a copy of the District’s Budget for the current
fiscal year 2024.
9. Most recently filed audited financial statements of the District. To the extent
audited financial statements are required by state law or most recently filed
audit exemption:
Attached as Exhibit B is a copy of the District’s audit exemption
application for fiscal year 2023.
10. Notice of any uncured defaults existing for more than 90 days under any debt
instrument of the District:
The District has no uncured defaults existing for more than 90 days under
the Limited Tax General Obligation Bonds Series 2010.
11. The District’s inability to pay any financial obligations as they come due
under any obligation which continues beyond a ninety-day period:
The District is not aware of any inability to pay their financial obligations
as they become due.
{00930563.DOCX / } 3
EXHIBIT A
2024 Budget
__________________________________________
Administrative Management Provided By Marchetti & Weaver, LLC,
28 Second Street, Suite 213, Edwards, CO 81632; Phone (970) 926-6060; Fax (970) 926-6040
AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
January 1, 2024
Division of Local Government
1313 Sherman Street, Room 521
Denver, CO 80203
VIA: Electronic Filing DLG Portal
RE: Airport Commerce Center Metropolitan District LGID #66170
Attached is the 2024 Budget for the Airport Commerce Center Metropolitan District in
Eagle County, Colorado, submitted pursuant to Section 29-1-11, C.R.S. This Budget was
adopted on November 2, 2023. If there are any questions on the budget, please contact Mr.
Kenneth J. Marchetti, telephone number 970-926-6060 Ext. 8.
The mill levy certified to the County Commissioners of Eagle County is 15.000 mills for all
general operating purposes, subject to statutory and/or TABOR limitations; 26.000 mills for G.O.
bonds; 0.000 mills for refund/abatement; and (6.00) mills for Temporary Tax Credit/Mill Levy
Reduction. Based on an assessed valuation of $7,188,630, the total property tax revenue is
$251,602. A copy of the certification of mill levies sent to the County Commissioners for Eagle
County is enclosed.
I hereby certify that the enclosed is a true and accurate copy of the budget and certification of tax
levies to the Board of County Commissioners of Eagle County, Colorado.
Sincerely,
Kenneth J Marchetti
District Accountant
Enclosure(s)
AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
2024 BUDGET MESSAGE
Airport Commerce Center Metropolitan District is a quasi-municipal corporation organized and
operated pursuant to provisions set forth in the Colorado Special District Act. The District was
established to supply the necessary facilities and services including but not limited to potable water
delivery, internal and offsite roadway systems and sanitary sewer collection and treatment.
The District has no employees and all operations and administrative functions are contracted.
The following budget is prepared on the modified accrual basis of accounting, which is consistent
with the basis of accounting used in presenting the District's financial statements.
2024 BUDGET STRATEGY
The District's strategy in preparing the budget is to strive to provide the type of public-purpose
facilities desired by the property owners and residents of the District in the most economic manner
possible. The District’s primary function is to levy, collect property taxes which will be used to
fund the operations and debt service associated with the operations of the District for the benefit
of the constituents of the District.
Page 1 of 5
RESOLUTIONS OF AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
TO ADOPT 2024 BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND
AND ADOPTING A BUDGET FOR THE AIRPORT COMMERCE CENTER
METROPOLITAN DISTRICT, 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 of the Airport Commerce Center Metropolitan District has
appointed a budget committee to prepare and submit a proposed 2024 budget at the proper time;
and
WHEAREAS, such committee has submitted a proposed budget to this governing body at the
proper time, for its consideration, and;
WHEREAS, upon due and proper notice, published or posted in accordance with the law, said
proposed budget was open for inspection by the public at a designated place, and a public hearing
was held on November 2, 2023, and interested taxpayers were given the opportunity to file or
register any objections to said proposed budget; and;
WHEREAS, whatever increases may have been made in the expenditures, like increases were
added to the revenues or planned to be expended from reserves/fund balances so that the budget
remains in balance, as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board of directors of the Airport Commerce
Center Metropolitan District, Eagle County, Colorado:
Section 1. That the budget as submitted, amended, and summarized by fund, hereby is
approved and adopted as the budget of the Airport Commerce Center Metropolitan
District for the year stated above, as adjusted for immaterial changes in the final
certified assessed value of the District as certified by the county assessor and
corresponding adjustments resulting from such changes to the assessed value. In
the event there are material changes to the assessed value then a subsequent meeting
of the Board shall be called to consider such changes. Furthermore, to the extent
specific capital expenditures budgeted and forecasted for the current year are unable
to be completed by the end of the current year, the budget for such expenditures
shall be transferred into next year’s budget and the budgeted beginning fund
balance for next year’s budget shall be updated to reflect such changes.
Section 2. That the budget hereby approved and adopted shall be certified by any officer or
the District Administrator of the District and made a part of the public records of
the District.
DocuSign Envelope ID: 822385DE-8585-428C-9017-6D9C36A4E8F3
Page 2 of 5
RESOLUTIONS OF AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
(CONTINUED)
TO SET MILL LEVIES
A RESOLUTION LEVYING PROPERTY TAXES FOR THE YEAR 2023, TO HELP DEFRAY
THE COSTS OF GOVERNMENT FOR THE AIRPORT COMMERCE CENTER
METROPOLITAN DISTRICT, EAGLE COUNTY, COLORADO, FOR THE 2024 BUDGET
YEAR.
WHEREAS, the Board of Directors of the Airport Commerce Center Metropolitan District, has
adopted the annual budget in accordance with the Local Government Budget Law, on November
2, 2023 and;
WHEREAS, the amount of money necessary to balance the budget for general operating expenses
and capital expenditure purposes from property tax revenue is $64,773, and;
WHEREAS, the Airport Commerce Center Metropolitan District hereby documents its intent to
preserve its voter approved mill levy rate of 15.000 mills for operations and to provide property
tax relief by a temporary reduction in property taxes in accordance with C.R.S. 39-1-111.5, and;
WHEREAS, the amount of money necessary to balance the budget for capital expenditure
purposes from property tax revenue approved by voters or at public hearing is $0.00, and;
WHEREAS, the amount of money necessary to balance the budget for voter approved bonds and
interest is $187,122, and;
WHEREAS, the 2023 valuation for assessment for the Airport Commerce Center Metropolitan
District, as certified by the County Assessor is estimated to be $7,197,000 or $7,184,089 in the
event Proposition HH is passed by Colorado voters.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the AIRPORT
COMMERCE CENTER METROPOLITAN DISTRICT, EAGLE COUNTY, COLORADO:
Section 1. That for the purposes of meeting all general operating expenses of the Airport
Commerce Center Metropolitan District during the 2024 budget year, there is
hereby levied a tax of 15.000 mills upon each dollar of the total valuation for
assessment of all taxable property within the District for the year 2023.
Section 2. That for the purposes of rendering a temporary credit to its constituents during
budget year 2024 there is hereby levied a temporary tax credit/mill levy reduction
of 6.000 mills (or 5.984 mills in the event Proposition HH is passed by Colorado
voters) upon each dollar of the total valuation for assessment of all taxable property
within the District for the year 2023.
Section 3. That for the purpose of meeting all capital expenditures of the Airport Commerce
Center Metropolitan District during the 2024 budget year, there is hereby levied a
tax of 0.00 mills upon each dollar of the total valuation for assessment of all taxable
property within the District for the year 2023.
DocuSign Envelope ID: 822385DE-8585-428C-9017-6D9C36A4E8F3
Page 3 of 5
RESOLUTIONS OF AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
(CONTINUED)
TO SET MILL LEVIES (CONTINUED)
Section 4. That for the purpose of meeting all payments for bonds and interest of the Airport
Commerce Center Metropolitan District during the 2024 budget year, there is
hereby levied a tax of 26.000 mills (or 25.984 mills in the event Proposition HH is
passed by Colorado voters) upon each dollar of the total valuation for assessment
of all taxable property within the District for the year 2023.
Section 5. That any officer or the District Administrator is hereby authorized and directed to
either immediately certify to the County Commissioners of Eagle County,
Colorado, the mill levies for the Airport Commerce Center Metropolitan District as
hereinabove determined and set, or be authorized and directed to certify to the
County Commissioners of Eagle County, Colorado, the mill levies for the Airport
Commerce Center Metropolitan District as hereinabove determined and set based
upon the final (December) certification of valuation from the county assessor.
(THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK)
DocuSign Envelope ID: 822385DE-8585-428C-9017-6D9C36A4E8F3
Page 4 of 5
RESOLUTIONS OF AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
(CONTINUED)
TO APPROPRIATE SUMS OF MONEY
(PURSUANT TO SECTION 29-1-108, C.R.S.)
A RESOLUTION APPROPRIATING SUMS OF MONEY TO THE VARIOUS FUNDS AND
SPENDING AGENCIES, IN THE AMOUNT AND FOR THE PURPOSE AS SET FORTH
BELOW, FOR THE AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT, EAGLE
COUNTY, COLORADO, FOR THE 2024 BUDGET YEAR.
WHEREAS, the Board of Directors has adopted the annual budget in accordance with the Local
Government Budget Law, on November 2, 2023, and;
WHEREAS, the Board of Directors has made provision therein for revenues in an amount equal
to or greater than the total proposed expenditures as set forth in said budget, and;
WHEREAS, it is not only required by law, but also necessary to appropriate the revenues and
reserves or fund balances provided in the budget to and for the purposes described below, thereby
establishing a limitation on expenditures for the operations of the District.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT, EAGLE COUNTY,
COLORADO:
Section 1. That the following sums are hereby appropriated from the revenues of each fund,
to each fund, for the purposes stated:
Expenditures
General Fund
Current Operating Expenses 42,231
Capital Expenditures 69,841
Total General Fund 112,072
Debt Service Fund
Debt Service Expenditures 207,718
DocuSign Envelope ID: 822385DE-8585-428C-9017-6D9C36A4E8F3
Page 5 of 5
RESOLUTIONS OF AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
(CONTINUED)
TO ADOPT 2024 BUDGET, SET MILL LEVIES AND
APPROPRIATE SUMS OF MONEY
(CONTINUED)
The above resolutions to adopt the 2024 budget, set the mill levies and to appropriate sums of
money were adopted this 2nd day of November, 2023.
Attest: ___________________________________
Title: ____________________________________
DocuSign Envelope ID: 822385DE-8585-428C-9017-6D9C36A4E8F3
president
AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET, ACTUAL AND FORECAST FOR THE PERIODS INDICATED Modified Accrual Basis
Modified Accrual Basis
GENERAL FUND Cal Yr Cal Yr Cal Yr
2022 2023 2024
Unaudited Adopted 2023 Approved BUDGET
Actual Budget Forecast Budget ASSUMPTIONS
Assessed Valuation 3,613,300 4,275,300 4,275,300 7,188,630 Final AV 12/2023
Yr over Yr Incr 155% 18% 18% 68%
Assd Val - Under Prop HH, Info Only 0
Mill Levy Rate 15.000 15.000 15.000 15.000
Temporary Mill Levy Credit (7.500) (7.500) (7.500) (6.000)
Net Mill Levy Rate 7.500 7.500 7.500 9.000
Property Taxes 27,368 32,065 32,065 64,698
Property Tax Backfill 6,562
Specific Ownership Taxes 1,459 1,539 1,731 3,105
Interest Income 443 499 1,025 835
Water Fees - -
Misc Inc (Whittaker Elect Reimb/Bgt Contin 621 - 708 500 whittaker reimb for pump
TOTAL REVENUES 29,891 34,103 35,528 75,700
EXPENDITURES
Accounting & Administration 10,034 7,652 7,652 8,264
Audit - -
Dues (Spec Distr Assn) 390 421 441 454
Election 567 1,500 1,400 - director election 2023
Electricity Water Pump 1,165 1,123 1,288 1,327
Insurance 2,870 3,100 2,946 2,946
Landscaping 3,230 5,065 2,955 5,385 per proposal
Legal 2,156 2,700 2,000 2,000 water R&Rs
Office Overhead and Expense 388 521 521 537
Road Repair - 2,000 - 2,000
Sewer/Water Line Inspect/Repair 2,633 1,500 1,901 5,500 ditch cleaning
Water Operator 3,750 6,250 6,250 6,875 per proposal, 25 wks + $5
Treasurer's Fees 823 889 962 1,941 3% of Property Taxes
Capital Exenditures 30,061 - 69,841 meter install + 10% contin
Contingency Allowance 5,000 - 5,000
TOTAL EXPENDITURES 28,006 67,782 28,316 112,070
REVENUE OVER (UNDER) EXPEND. 1,885 (33,679) 7,212 (36,369)
OTHER FINANCING SOURCES (USES)
TOTAL OTHER FINANCING SOURCES (USES - - - -
FUND BALANCE - BEGINNING 24,314 24,962 26,199 33,411
Reverse Contingency 5,000 5,000
FUND BALANCE - ENDING 26,199 (3,717) 33,411 2,042
= = =
No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted.
PAGE 1
AIRPORT COMMERCE CENTER METROPOLITAN DISTRICT
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET, ACTUAL AND FORECAST FOR THE PERIODS INDICATED Modified Accrual Basis
DEBT SERVICE FUND Cal Yr Cal Yr Cal Yr
2022 2023 2024
Unaudited Adopted 2023 Approved BUDGET
Actual Budget Forecast Budget ASSUMPTIONS
Assessed Valuation - Gross 3,613,300 4,275,300 4,275,300 7,188,630 Final AV 12/2023
Mill Levy Rate 35.000 42.500 42.500 26.000
REVENUES
Property Taxes 155,083 181,700 181,700 186,904 25 Mill Min; 50 Mill Max
Specific Ownership Taxes 8,269 8,722 9,800 8,971
Interest Income 2,513 2,726 5,804 5,607
TOTAL REVENUES 165,864 193,147 197,304 201,483
EXPENDITURES
Series 2010 Sub Bonds-Principal 0
Series 2010 Sub Bonds-Interest 160,237 187,696 191,853 195,876 Amt of Pledged Rev
Treasurer's Fees - Eagle Co Treasurer 4,664 5,451 5,451 5,607 3% fee charged by Count
Contingency 6,000 - 6,000
TOTAL EXPENDITURES 164,901 199,147 197,304 207,483
REVENUE OVER (UNDER) EXPEND. 963 (6,000) - (6,000)
OTHER FINANCING SOURCES (USES)
Developer Advances -
Transfer (to)/from General Fund -
TOTAL OTHER FINANCING SOURCES - - - -
FUND BALANCE - BEGINNING 4,268 4,268 4,268 4,268
Reverse Contingency 6,000 - 6,000
FUND BALANCE - ENDING 5,231 4,268 4,268 4,268
= = =
Interest Balance - Beginning 3,284,300 3,412,447
Interest Accrued 320,000 320,000
Interest Paid -191,853 -195,876
Accrued Interest Balance - Ending 3,412,447 3,536,571
Principal Beginning Balance 3,200,000 3,200,000
Principal Paid
Principal Ending Balance 3,200,000 3,200,000
No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted.
PAGE 2
131 County Tax entity code DOLA LGID/SID 66170
TO: County Commissioners1 of Eagle County , Colorado.
On behalf of the Airport Commerce Center Metropolitan District
the Board of Directors
of the Airport Commerce Center Metropolitan District
7,188,630 $
7,188,630 $
Submitted: 12/22/2023 for budget/fiscal year 2024 .
(not later than Dec 15) (mm/dd/yyyy) (yyyy)
PURPOSE (see end notes for definitions and examples) LEVY2 REVENUE2
1. General Operating ExpensesH 15.000 mills 107,829.45 $
2.
(6.000) mills (43,131.78) $
SUBTOTAL FOR GENERAL OPERATING: 9.000 mills 64,697.67 $
3. General Obligation Bonds and InterestJ 26.000 mills 186,904.38 $
4. Contractual ObligationsK 0.000 mills -$
5. Capital ExpendituresL 0.000 mills -$
6. Refunds/AbatementsM 0.000 mills -$
7. OtherN (specify): 0.000 mills -$
0.000 mills -$
TOTAL:[ ] 35.000 mills 251,602.05 $
Daytime
phone: (970) 926-6060
Signed: Title: District Accountant
(local government)C
(GrossD assessed valuation, Line 2 of the Certification of Valuation From DLG 57 E)
(NETG assessed valuation, Line 4 of the Certification of Valuation Form DLG 57)
Hereby officially certifies the following mills to
be levied against the taxing entity's GROSS
assessed valuation of:
CERTIFICATION OF TAX LEVIES for NON-SCHOOL Governments
(taxing entity)A
(governing body)B
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, Colorado 80203. Questions? Call DLG (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).
USE VALUE FROM FINAL CERTIFICATION OF VALUATION PROVIDED BY
ASSESSOR NO LATER THAN DECEMBER 10
<Minus> Temporary General Property Tax Credit/
Temporary Mill Levy Rate ReductionI
Contact person:
(print) Kenneth J Marchetti
Sum of General Operating
Subtotal and Lines 3 to 7
Note: If the assessor certified a NET assessed valuation
(AV) different than the GROSS AV due to a Tax Increment
Financing (TIF) AreaF 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:
Form DLG 70 (rev 6/16) Page 1 of 4
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{00930563.DOCX / }
EXHIBIT B
Audit Exemption Application for fiscal year ended December 31, 2023
here
--or--
For faster processing the web portal is the preferred method for submission
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
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!
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
Any preparer of an Application for Exemption from Audit must be an independent accountant with knowledge of governmental accounting.
READ AL L 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?
1525 Sherman St., 7th Floor
QUESTIONS?
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/
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?
Has the preparer signed the application?
Will this application be submitted electronically?
Click here to go to the portal
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.
1
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
YES NO
bethj@mwcpaa.com
(970) 926-6060
Beth Johnston
Edwards, CO 81632
For the Year Ended
or fiscal year ended: 28 2nd St Unit 213
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
CONTACT PERSON
PHONE
APPLICATION FOR EXEMPTION FROM AUDIT
LONG FORM
Airport Commerce Center Metropolitan District
12/31/2023 c/o Marchetti & Weaver
EMAIL
NAME OF GOVERNMENT
ADDRESS
RELATIONSHIP TO ENTITY Outside Accountant, all major decisions made by the Board of Directors
ADDRESS
FIRM NAME (if applicable)
PHONE
TITLE
NAME: Kenneth Marchetti
Principal/CPA
Marchetti & Weaver, LLC
28 2nd St, Unit 213, Edwards, CO 81632
(970) 926-6060
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.]
If Yes, date filed:
PREPARER (SIGNATURE REQUIRED) DATE PREPARED
3/4/2024
2
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
Line # General Fund* Debt Service Fund* Fund* Fund*
1-1 28,840 $ 6,329 $ -$ -$
1-2 -$ -$ -$ -$
1-3 833 $ -$ -$ -$
1-4 134 $ 761 $ -$ -$
1-5 64,698 $ 186,904 $
-$ -$
1-6 -$ -$ -$ -$
1-7 2,946 $ -$ -$ -$
1-8 -$ -$ -$ -$
1-9 -$ -$ -$ -$
1-10 -$ -$ -$ -$
1-11 97,451 $ 193,994 $ -$ -$
1-12 -$ -$ -$ -$
1-13 -$ -$ -$ -$
1-14 -$ -$ -$ -$
1-15 97,451 $ 193,994 $ -$ -$
1-16 1,940 $ -$ -$ -$
1-17 -$ -$ -$ -$
1-18 -$ -$ -$ -$
1-19 -$ -$ -$ -$
1-20 -$ -$ -$ -$
1-21 1,940 $ -$ -$ -$
1-22 -$ -$ -$ -$
1-23 -$ -$ -$ -$
1-24 -$ -$ -$ -$
1-25 -$ -$ -$ -$
1-26 -$ -$ -$ -$
1-27 1,940 $ -$ -$ -$
1-28 64,698 $ 186,904 $ -$ -$
1-29 -$ -$ -$ -$
1-30 64,698 $ 186,904 $ -$ -$
1-31 2,946 $ -$ -$ -$
1-32 -$ -$
1-33 1,080 $ -$ -$ -$
1-34 -$ -$ -$ -$
1-35 -$ 7,090 $ -$ -$
1-36 26,787 $ -$ -$ -$
1-37
30,813 $ 7,090 $ -$ -$
1-38
97,451 $ 193,994 $ -$ -$
Please use this space to
provide explanation of any
items on this page Assets
Due from Other Entities or Funds
Restricted [specify…] TABOR
Committed [specify…]
Deferred Inflows of Resources: Deferred Inflows of Resources
Restricted
Other Designations/Reserves
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
Fund Balance
(add lines 1-28 through 1-29) TOTAL DEFERRED INFLOWS
Net Position
Lease related (as lessor) Other [specify…]
Unassigned:
Proprietary/Fiduciary Funds
DescriptionDescription
Assigned [specify…] Debt Service
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…]:
(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
Assets
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
Accounts Payable
Accrued Payroll and Related Liabilities
Accrued Interest Payable
Due to Other Entities or Funds
All Other Liabilities [specify…]
Other Current Assets [specify…]
Lease Receivable (as Lessor) Total Current Assets
All Other Assets [specify…]
Property Tax Receivable
Prepaid Insurance
Other Long Term Assets [specify…]
Capital & Right to Use Assets, net (from Part 6-4)
[specify…]
(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
Liabilities
TOTAL ASSETS AND DEFERRED OUTFLOWS
[specify…] [specify…]
[specify…]
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
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
Line # General Fund* Debt Service Fund* Fund* Fund*
2-1 32,115 $ 181,984 $ -$ -$
2-2 1,838 $ 10,413 $ -$ -$
2-3 -$ -$ -$ -$
2-4 -$ -$ -$ -$
2-5 -$ -$ -$ -$
2-6 -$ -$ -$ -$
2-7 -$ -$ -$ -$
2-8 33,953 $ 192,397 $ -$ -$
2-9 -$ -$ -$ -$
2-10 -$ -$ -$ -$
2-11 -$ -$ -$ -$
2-12 -$ -$ -$ -$
2-13 -$ -$ -$ -$
2-14 -$ -$ -$ -$
2-15 -$ -$ -$ -$
2-16 -$ -$ -$ -$
2-17 -$ -$ -$ -$
2-18 -$ -$ -$ -$
2-19 1,200 $ 6,802 $ -$ -$
2-20 -$ -$ -$ -$
2-21 -$ -$
2-22 833 $ -$ -$ -$
2-23 -$ -$ -$ -$
2-24 35,986 $ 199,199 $ -$ -$
2-25 -$ -$ -$ -$
2-26 -$ -$ Lease Proceeds -$ -$
2-27 -$ -$ Developer Advances -$ -$
2-28 -$ -$ Other [specify…]: -$ -$
2-29
-$ -$ -$ -$ GRAND TOTALS
2-30
35,986 $ 199,199 $ -$ -$ $ 235,185
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…]: reimbursements 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
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
Specific Ownership
Highway Users Tax Funds (HUTF)
Conservation Trust Funds (Lottery)
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
Conservation Trust Funds (Lottery)
Licenses and Permits
Community Development Block Grant
Donations Donations
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.
Charges for Sales and Services
Interest/Investment Income
Charges for Sales and Services
Interest/Investment Income
Other Financing Sources
Debt Proceeds
Lease Proceeds
4
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
Line # General Fund* Debt Service Fund* Fund* Fund*
3-1 18,150 $ 5,488 $ -$ -$
3-2 -$ -$ -$ -$
3-3 -$ -$ -$ -$
3-4 -$ -$ -$ -$
3-5 -$ -$ -$ -$
3-6 -$ -$ -$ -$
3-7 -$ -$ -$ -$
3-8 -$ -$ -$ -$
3-9 -$ -$ -$ -$
3-10 -$ -$ -$ -$
3-11 13,222 $ -$ -$ -$
3-12 -$ -$ -$ -$
3-13 -$ -$ -$ -$
3-14 -$ -$ -$ -$
3-15 -$ -$ -$ -$
3-16 -$ 191,852 $ -$ -$
3-17 -$ -$ -$ -$
3-18 -$ -$ -$ -$
3-19 Developer Interest Repayments -$ -$ Developer Interest Repayments -$ -$
3-20 -$ -$ -$ -$
3-21 -$ -$ -$ -$ GRAND TOTAL
3-22 31,372 $ 197,340 $ -$ -$ 228,712 $
3-23 -$ -$ -$ -$
3-24 -$ -$ -$ -$
3-25 -$ -$ -$ -$
3-26 -$ -$ -$ -$
3-27 -$ -$ -$ -$
3-28 -$ -$ -$ -$
3-29
-$ -$ -$ -$
3-30
4,614 $ 1,859 $ -$ -$
3-31
26,199 $ 5,231 $ -$ -$
3-32 Prior Period Adjustment (MUST explain) -$ -$ Prior Period Adjustment (MUST explain) -$ -$
3-33
30,813 $ 7,090 $ -$ -$
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
(Line 3-27, plus line 3-28, less line 3-26, less line 3-25, plus
line 3-24) TOTAL GAAP RECONCILING ITEMS
Debt Service Debt Service
Expenses
General Operating & Administrative
Salaries
(Add lines 3-23 through 3-28) TOTAL
TRANSFERS AND OTHER EXPENDITURES
Fund Balance, January 1 from December 31 prior year report 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.
Capital Outlay
Governmental Funds
Other [specify…]
PART 3 - FINANCIAL STATEMENTS - OPERATING STATEMENT - EXPENDITURES/EXPENSES
Solid Waste Insurance
Highways & Streets
Expenditures
Other [specify…]: Water & Operations Contributions to Fire & Police Pension Assoc.
Fire
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...]:
Judicial
Law Enforcement
Contributions to Fire & Police Pension Assoc.
Health
Culture and Recreation
Interfund Transfers (In)
Proprietary/Fiduciary Funds
Repair and Maintenance
Description
Transfers to other districts
5
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
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
3,200,000 $ -$ -$ 3,200,000 $
-$ -$ -$ -$
41,724 $ -$ 41,724 $ -$
-$ -$ -$ -$
6,584 $ -$ 6,584 $ -$
-$ -$ -$ -$
3,248,308 $ -$ 48,308 $ 3,200,000 $
*Must agree to prior year-end balance
YES NO
4-5
3,800,000 $
11/3/2009
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 35,169 $
5-2 -$
35,169 $
-$
-$
-$
-$
-$
35,169 $
YES NO N/A
5-4
5-5
Is the entity current in its debt service payments? If no, MUST explain:
TOTAL
Does the entity have any lease agreements?
Lease & SBITA** Liabilities (GASB 87 & 96)
Developer Advances
Other (specify):
See explantion to right.
Please answer the following questions by marking the appropriate boxes.
PART 4 - DEBT OUTSTANDING, ISSUED, AND RETIRED
Property tax revenues are not sufficient to pay the full debt service
payments; payments are based on available debt service funds. The
entity is current in its debt service payments from the perspecitive that
it has applied all available funds to payment of debt service payments
in accordance with the requirements of the bond documents.
Please use this space to provide any explanations or comments:
Please use this space to provide any explanations or comments:
PART 5 - CASH AND INVESTMENTS
General obligation bonds
Revenue bonds
Does the entity have outstanding debt?
If yes:
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?
no debt schedule is attached because repayments are based on available pledged revenues
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)
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
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
YES NO
6-1
6-2
6-3 Balance -
beginning of the
year*
Additions* Deletions Year-End Balance
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
342,977 $ -$ -$ 342,977 $
-$ -$ -$ -$
Leased & SBITA Right-to-Use Assets -$ -$ -$ -$
Intangible Assets -$ -$ -$ -$
-$ -$ -$ -$
(107,178) $ (8,574) $ -$ (115,752) $
-$ -$ -$ -$
235,799 $ (8,574) $ -$ 227,225 $
6-4
Balance -
beginning of the
year*
Additions* Deletions Year-End Balance
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
Leased & SBITA Right-to-Use Assets -$ -$ -$ -$
Intangible Assets -$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
YES NO
7-1
7-2
If yes:
-$
-$
-$
-$
-$
Please use this space to provide any explanations or comments:
Construction In Progress (CIP)
Furniture and fixtures
Other (explain):
Accumulated Depreciation (Enter a negative, or credit, balance)
PART 6 - CAPITAL AND RIGHT-TO-USE ASSETS
Accumulated Depreciation (Enter a negative, or credit, balance)
Buildings
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
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 Amortization Right to Use Assets (Enter a negative, or credit, balance)
Accumulated Amortization Right to Use Assets (Enter a negative, or credit, balance)
Infrastructure
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?
Does the entity have a volunteer firefighters' pension plan?
*
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
7
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
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 additional explanations or comments not previously included:
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 pass an appropriations resolution in accordance with Section 29-1-108 C.R.S.?
If no, MUST explain:
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)
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)]?
Does the entity have a certified mill levy?
List the name of the other governmental entity and the services provided:
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.
Date of formation:
Has the entity changed its name in the past or current year?
Bond Redemption mills
General/Other mills
42.500
7.500
Is this application for a newly formed governmental entity?
Please answer the following question by marking in the appropriate box
Please indicate the amount appropriated for each fund separately for the year reported
Please indicate what services the entity provides:
streets, traffic & safety controls, drainage, sanitation, water, irrigation
50.000
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 Fund 67,782 $
-$
Debt Service Fund 199,147 $
Is the entity a metropolitan district?
Does the entity have an agreement with another government to provide services?
Please use this space to provide any explanations or comments:
PART 8 - BUDGET INFORMATION
8
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
Entity Wide: General Fund Governmental Funds Notes
Unrestricted Cash & Investments Unrestricted Fund Balanc 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
291,445 $
1,940 $
- $ -$
- $
- $
3,800,000 $ - $
- $
35,169 $
-$
35,169 $
1,940 $
251,602 $
26,787 $
30,813 $
26,199 $
226,350 $
-$ -$
11/3/2009
3,200,000 $
- $
-$
-$
228,712 $
-$
-$
214,099 $
OSA USE ONLY
31,372 $
199,199 $
235,185 $
-$
191,852 $
-$
35,986 $
9
DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
YES NO
12-1
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, ____Brockton Ward_____, 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 2027____
I, ___Elisabeth Barry______, 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 2027_______
MUST Print the names of AL L members of the governing body below.
7
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:______________________
6
Full Name
Full Name
Elisabeth Barry
4
Full Name
Brockton Ward
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
1
Full Name
vacant
2
Full Name I, ____Breanna Barry________, 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 2027________
Breanna Barry
Matthew Barry
Full Name I, _Matthew Barry___, 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________
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.
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DocuSign Envelope ID: 18ADC8AE-E6B4-4D75-B8A3-428051F540C7
3/29/2024
3/29/2024
3/27/2024
3/27/2024