HomeMy WebLinkAbout2024 Tower Center Annual Report (FOR 2023 FILING)September 20, 2024
Town Clerk
Town of Gypsum
50 Lundgren Boulevard
Gypsum, Colorado 81637
(Via Email: becky@townofgypsum.com)
Eagle County Clerk and Recorder
Eagle County Colorado
500 Broadway, Suite 101
Eagle, Colorado 81631
(Via Email: recordings@eaglecounty.us)
Division of Local Government
1313 Sherman Street
Room 521
Denver, Colorado 80203
(Via E-Portal)
Office of the State Auditor
1525 Sherman Street, 7th Floor
Denver, Colorado 80203
(Via E-Portal)
Re: Annual Report for Tower Center Metropolitan District
To Whom It May Concern:
Pursuant to Section 32-1-207(3)(c) C.R.S., enclosed please find the 2023 Annual
Report for Tower Center Metropolitan District.
Please contact our office with any questions regarding the Annual Report.
Sincerely, ICENOGLE SEAVER POGUE A Professional Corporation
Hannah M. Pogue Paralegal
TOWER CENTER METROPOLITAN DISTRICT
2023 ANNUAL REPORT
Pursuant to Section VIII.D. of the Service Plan for the Tower Center Metropolitan District (the
“District”) and Section 32-1-207(3)(c), C.R.S, the District is responsible for submitting an annual
report (the “Annual Report”) to the Town of Gypsum (the “Town”), the Division of Local
Government, the State Auditor, and the Eagle County Clerk and Recorder. The District hereby
submits this annual report for the year 2023.
(a) Boundary changes made.
The District had no boundary changes in 2023.
(b) Intergovernmental agreements entered into or terminated with other governmental
entities.
The District did not enter into or propose any intergovernmental agreements in the calendar
year 2023.
(c) Access information to obtain a copy of rules and regulations adopted by the board.
For information concerning rules and regulations adopted by the Districts please contact
the District’s General Counsel:
Icenogle Seaver Pogue, P.C.
Attn: Alan D. Pogue
4725 S. Monaco St., Ste. 360
Denver, Colorado 80237
303-292-9100
(d) A summary of litigation involving public improvements owned by the special district.
The District was not involved in any litigation regarding public improvements owned by the
District in 2023.
(e) The status of the construction of public improvements by the special district.
No public improvements were constructed by the District in 2023.
(f) A list of facilities or improvements constructed by the special district that were conveyed
or dedicated to the county or municipality.
The District did not dedicate or convey any District-constructed facilities or improvements
to the Town or Eagle County, Colorado in 2023.
2
(g) The final assessed valuation of the special district as of December 31 of the reporting year.
The District’s final assessed valuation as of December 31, 2023 was $423,680.
(h) A copy of the current year's budget.
A copy of the District’s 2024 Budget is attached hereto as Exhibit A.
(i) A copy of the audited financial statements, if required by the “Colorado Local
Government Audit Law”, part 6 of article 1 of title 29, or the application for exemption from
audit, as applicable.
As copy of the application from audit for the year ending December 31, 2023 is attached
hereto as Exhibit B.
(j) Notice of any uncured defaults existing for more than ninety days under any debt
instrument of the special district.
As of December 31, 2023, the District did not receive any notices of uncured defaults
existing for more than ninety (90) days under any debt instrument.
(k) Any inability of the special district to pay its obligations as they come due under any
obligation which continues beyond a ninety-day period.
As of December 31, 2023, the District has paid all of its financial obligations as they
became due in 2022.
EXHIBIT A
2024 ADOPTED BUDGET
TOWER CENTER METROPOLITAN DISTRICT
____________________________________________________________________________________________________________
Administrative & Financial Management Provided By Marchetti & Weaver, LLC
Mountain Office Website & Email Front Range Office
28 Second Street, Suite 213 www.mwcpaa.com 245 Century Circle, Suite 103
Edwards, CO 81632 Admin@mwcpaa.com Louisville, CO 80027
(970) 926-6060 (720) 210-9136
January 30, 2024
Division of Local Government
1313 Sherman Street, Room 521
Denver, CO 80203
VIA: Electronic Filing LGID# 66144
Attached is the 2024 Budget for the Tower Center Metropolitan District in Eagle County,
Colorado, submitted pursuant to Section 29-1-113, C.R.S. This Budget was adopted on
November 21, 2023. If there are any questions on the budget, please contact Mr. Kenneth J.
Marchetti, telephone number 970-926-6060.
The mill levy certified to the County Commissioners of Eagle County is 0.000 mills for all
general operating purposes, subject to statutory and/or TABOR limitations; 0.000 mills for G.O.
bonds; 0.000 mills for refund/abatement; and 0.000 mills for Temporary Tax Credit/Mill Levy
Reduction. Based on an assessed valuation of $423,680 the total property tax revenue is $0.00.
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 Administrator
Enclosure(s)
TOWER CENTER METROPOLITAN DISTRICT
2024 BUDGET MESSAGE
Tower 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 services of water, streets, parks & recreation, safety protection, sanitary
sewer, and mosquito control.
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 General Fund provides the operations and maintenance for the District and
pays the associated general and administrative expenses. The primary source of funds for the
District, at this time, is from developer advances.
Page 1 of 5
RESOLUTIONS OF TOWER CENTER METROPOLITAN DISTRICT
TO ADOPT 2024 BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND
AND ADOPTING A BUDGET FOR THE TOWER 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 Tower 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 21, 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 Tower 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 Tower 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 capital or
significant operating expenditures forecasted for the current year are anticipated to
be extended into the following year, the expenditures and offsetting change in the
budgeted beginning fund balance shall be updated to reflect management’s best
estimate at the time the budget is to be filed with the Colorado Division of Local
Affairs.
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.
Page 2 of 5
RESOLUTIONS OF TOWER 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 TOWER CENTER METROPOLITAN DISTRICT,
EAGLE COUNTY, COLORADO, FOR THE 2024 BUDGET YEAR.
WHEREAS, the Board of Directors of the Tower Center Metropolitan District, has adopted the
annual budget in accordance with the Local Government Budget Law, on November 21, 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 $0.00 and;
WHEREAS, the Tower Center Metropolitan District finds that it is required to temporarily lower
the general operating mill levy to render a refund for $0.00, 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 $0.00, and;
WHEREAS, the 2023 valuation for assessment for the Tower Center Metropolitan District, as
certified by the County Assessor is $423,680.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the TOWER CENTER
METROPOLITAN DISTRICT, EAGLE COUNTY, COLORADO:
Section 1. That for the purposes of meeting all general operating expenses of the Tower Center
Metropolitan District during the 2024 budget year, there is hereby levied a tax of
0.000 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 refund to its constituents during budget year
2024 there is hereby levied a temporary tax credit/mill levy reduction of 0.000
mills.
Section 3. That for the purpose of meeting all capital expenditures of the Tower Center
Metropolitan District during the 2024 budget year, there is hereby levied a tax of
0.000 mills upon each dollar of the total valuation for assessment of all taxable
property within the District for the year 2023.
Page 3 of 5
RESOLUTIONS OF TOWER 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 Tower
Center Metropolitan District during the 2024 budget year, there is hereby levied a
tax of 0.000 mills 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 Tower 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 Tower 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)
Page 4 of 5
RESOLUTIONS OF TOWER 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 TOWER 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 21, 2023 and;
WHEREAS, the Board of Directors has made provision therein for revenues in an amount equal
or greater to the total proposed expenditures as set forth in said budget, and;
WHEREAS, it is not only required by law, but also necessary to appropriate the revenues and
reserves or fund balances provided in the budget to and for the purposes described below, thereby
establishing a limitation on expenditures for the operations of the District.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE TOWER
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:
GENERAL FUND:
Current Operating Expenditures $ 89,500
Tower Center Metropolitan District Statement of Revenues, Expenditures, & Changes In Fund Balance Modified Accrual Basis For the Period Indicated 2022 2024 Unaudited 2023 Adopted Budget Actual Forecast Budget Comments PROPERTY TAXES Assessed Valuation 193,410 193,410 423,680 12Ͳ16Ͳ2023 Final AV Mill LevyͲ Operations 0.000 0.000 0.000 Total Mill Levy Ͳ Ͳ Ͳ Property Tax RevenueͲ Operations Ͳ Ͳ Ͳ AV X Mill Levy / 1,000 Total Property Taxes Ͳ Ͳ Ͳ AV X Mill Levy / 1,000 GENERAL FUND REVENUES Property Taxes Ͳ Ͳ None Levied Specific Ownership Taxes Ͳ Ͳ 3% of taxes Interest Income Ͳ Ͳ Other Income Ͳ Ͳ TOTAL REVENUE Ͳ Ͳ Ͳ EXPENDITURES GENERAL OPERATIONS Accounting Ͳ 25,000 Est for incr activity & setup Audit Ͳ Ͳ Exempt for 2023 Election Ͳ 1,000 2025 PreͲelection prep Engineering & Management Ͳ Ͳ Insurance & SDA Dues Ͳ 2,500 Based on actual Legal Ͳ 55,000 Servce Plan Amend & incr activity Office Overhead and Supplies Ͳ 1,000 Bill.com fees Treasurers Fees Ͳ Ͳ 3% of Property Tax Contingency Ͳ 5,000 TOTAL GENERAL OPERATIONS Ͳ Ͳ 89,500 MAINTENANCE Landscaping Ͳ Ͳ Raw Water Irrigation Management Ͳ Ͳ Snow Plowing & Other Operations Ͳ Ͳ TOTAL MAINTENANCE EXPENDITURES Ͳ Ͳ Ͳ TOTAL EXPENDITURES Ͳ Ͳ 89,500 REVENUE OVER (UNDER) EXPEND. Ͳ Ͳ (89,500) OTHER FINANCING SOURCES AND (USES) Developer AdvanceͲ Operations Ͳ Ͳ 92,000 To Cover Shortfall Transfers In/(Out) Ͳ TOTAL OTHER SOURCES (USES) Ͳ Ͳ 92,000 NET CHANGE IN FUND BALANCE Ͳ Ͳ 2,500 BEGINNING FUND BALANCE Ͳ Ͳ Ͳ ENDING FUND BALANCE Ͳ Ͳ 2,500 = = No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. Page 1
129 County Tax entity code DOLA LGID/SID 66144
TO: County Commissioners1 of Eagle County , Colorado.
On behalf of the Tower Center Metropolitan District
the Board of Directors
of the Tower Center Metropolitan District
$
$
Submitted: 1/3/2024 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 0.000 mills -$
2. (0.000) mills -$
SUBTOTAL FOR GENERAL OPERATING: (0.000) mills -$
3. General Obligation Bonds and InterestJ 0.000 mills -$
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:[ ] 0.000 mills -$
Daytime
phone: (970) 926-6060 x 8
Signed: Title: District Administrator
(local government)C
(GrossD assessed valuation, Line 2 of the Certification of Valuation From DLG 57E)
(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:
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.
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:
423,680
423,680
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
CERTIFICATION OF TAX LEVIES for NON-SCHOOL Governments
(taxing entity)A
(governing body)B
Form DLG 70 Page 1
THIS SECTION APPLIES TO TITLE 32, ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES
FOR PAYMENT OF GENERAL OBLIGATION DEBT (32-1-603 C.R.S.). Taxing entities that are
Special Districts or Subdistricts of Special Districts must certify separate mill levies and revenue to the
Board of County Commissioners, one each for the funding requirements of each debt (32-1-603, 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:
3. Purpose of Issue:
Title:
Date:
Principal Amount:
Maturity Date:
Levy:
Revenue:
CONTRACTSK:
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.
CERTIFICATION OF TAX LEVIES, continued
Tower Center Metropolitan District
Form DLG 70 Page 2
4
EXHIBIT B
APPLICATION FROM EXEMPTION FROM AUDIT FOR YEAR ENDING
DECEMBER 31, 2023
Click Here
--or--
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:
http://www.lexisnexis.com/hottopics/Colorado/
Has the entity corrected all Prior Year Deficiencies as communicated by the OSA?
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.
Has the preparer signed the application?
Will this application be submitted electronically?Click here to go to the portal
If yes, have you read and understand the
new Electronic Signature Policy? See
new policy ->
APPLICATION FOR EXEMPTION FROM AUDIT
If yes, have you included a resolution?
GOVERNMENTAL ACTIVITY SHOULD BE REPORTED ON THE MODIFIED ACCRUAL BASIS
PROPRIETARY ACTIVITY SHOULD BE REPORTED ON A BUDGETARY BASIS
SHORT FORM
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).
Approval for an exemption from audit is granted only upon the review by the OSA.
IF EITHER REVENUES OR EXPENDITURES EXCEED $100,000, USE THE LONG FORM.
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?
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.)
Did you include any relevant explanations for unusual items in the appropriate spaces at
the end of each section?
Has the application been PERSONALLY reviewed and approved by the governing body?
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 in the year.
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 ARE NOT ELIGIBLE FOR AN EXTENSION OF TIME
POSTMARK DATES WILL NOT BE ACCEPTED AS PROOF OF SUBMISSION ON OR BEFORE THE STATUATORY DEADLINE
CHECKLIST
EXEMPTIONS FROM AUDIT ARE NOT AUTOMATIC
Any preparer of an Application for Exemption from Audit-SHORT FORM must be a person skilled in governmental accounting.
1
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
Register and submit your Applications at our web portal! For faster processing the web portal is the preferred method for submission
MAIL:
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.
All Applications for Exemption from Audit are subject to review and approval by the Office of the State Auditor.
1525 Sherman St., 7th Floor
Denver, CO 80203
Please Note: The OSA's email addresses have changed as of December 1, 2023. Please ensure you are using the email address
noted below.
Email: osa.lg@coleg.gov OR Phone: 303-869-3000
https://apps.leg.co.gov/osa/lgWEB PORTAL:
Governmental Activity should be reported on the Modified Accrual Basis
Local Government Audit Division
Proprietary Activity should be reported on the Cash or Budgetary Basis
FILING METHODS
IMPORTANT!
Office of the State Auditor
QUESTIONS?
2
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
3/19/2024
Please indicate whether the following financial information is recorded
using Governmental or Proprietary fund types
GOVERNMENTAL
(MODIFIED ACCRUAL BASIS)
PROPRIETARY
(CASH OR BUDGETARY BASIS)
PREPARER (SIGNATURE REQUIRED)DATE PREPARED
FIRM NAME (if applicable)
PHONE
TITLE
Marchetti & Weaver, LLC
For the Year Ended
12/31/23
APPLICATION FOR EXEMPTION FROM AUDIT
or fiscal year ended:
Tower Center Metropolitan District
(970) 926-6060
Principal/CPA
28 2nd St, Unit 213, Edwards, CO 81632
Edwards, CO 81632
Debbie@mwcpaa.com
SHORT FORM
CONTACT PERSON
PHONE
EMAIL
Kenneth J Marchetti
PART 1 - CERTIFICATION OF PREPARER
NAME:
I certify that I am skilled in governmental accounting and that the information in the application is complete and accurate, to the best of
my knowledge.
NAME OF GOVERNMENT
ADDRESS
Kenneth J Marchetti
(970) 926-6060
28 2nd St., Unit 213
ADDRESS
3
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
Line#
2-1 Taxes:Property (report mills levied in Question 10-6)
2-2 Specific ownership
2-3 Sales and use
2-4 Other (specify):
2-5
2-6 Grants
2-7 Conservation Trust Funds (Lottery)
2-8 Highway Users Tax Funds (HUTF)
2-9 Other (specify):
2-10
2-11
2-12
2-13
2-14
2-15 Debt proceeds
2-16
2-17 Developer Advances received (should agree with line 4-4)
2-18
2-19
2-20
2-21
2-22
2-23
2-24
Line#
3-1
3-2
3-3
3-4
3-5
3-6
3-7
3-8
3-9
3-10
3-11
3-12
3-13
3-14
3-15
3-16
3-17 Debt service principal (should agree with Part 4)
3-18
3-19 Repayment of Developer Advance Principal (should agree with line 4-4)
3-20
3-21 Contribution to pension plan (should agree to line 7-2)
3-22 Contribution to Fire & Police Pension Assoc. (should agree to line 7-2)
3-23
3-24
3-25
3-26
-$
-$
-$
-$
-$
-$
-$
11,866$
Please use this
space to provide
any necessary
explanations
Charges for utility services
(should agree with line 4-4, column 2)
Lease proceeds
(add lines 2-1 through 2-23) TOTAL REVENUE
-$
-$
-$
-$
EXPENDITURES: All expenditures for all funds must be reflected in this section, including the purchase of capital assets and principal and
interest payments on long-term debt. Financial information will not include fund equity information.
PART 3 - EXPENDITURES/EXPENSES
Fire and police pension
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
Administrative
-$
-$
-$
Round to nearest Dollar
-$
Donations
-$
-$
-$
-$
-$
PART 2 - REVENUE
Description Round to nearest Dollar
REVENUE: All revenues for all funds must be reflected in this section, including proceeds from the sale of the government's land, building, and
equipment, and proceeds from debt or lease transactions. Financial information will not include fund equity information.
Licenses and permits
-$
Intergovernmental:
Fines and forfeits
Employee benefits
-$
Please use this
space to provide
any necessary
explanations
-$
Description
(add lines 3-1 through 3-24) TOTAL EXPENDITURES/EXPENSES
Debt service interest
Other (specify):
Insurance
Accounting and legal fees
Repayment of Developer Advance Interest
If TOTAL REVENUE (Line 2-24) or TOTAL EXPENDITURES (Line 3-26) are GREATER than $100,000 - STOP. You may not use this
form. Please use the "Application for Exemption from Audit - LONG FORM".
Capital outlay
Repair and maintenance
Supplies
Public health
Streets and highways -$
-$
Utilities and telephone
Fire/Police
-$
-$
Utility operations
Culture and recreation
11,410$
Charges for services
Investment income
Special assessments
Proceeds from sale of capital assets
Other (specify):
-$
-$
Salaries
Payroll taxes
Contract services
11,866$
-$
-$
-$
11,410$
-$
-$
4
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
Yes No
4-1
4-2
4-3
4-4
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ 11,866$ -$ 11,866$
-$ -$ -$ -$
-$ 11,866$ -$ 11,866$
**Subscription Based Information Technology Arrangements *Must agree to prior year-end balance
Yes No
4-5
4-6
If yes:
4-7
If yes:
4-8
Amount Total
5-1 -$
5-2 -$
-$
-$
-$
-$
-$
-$
-$
Yes No N/A
5-4
5-5
Is the entity current in its debt service payments? If no, MUST explain below:
Please complete the following debt schedule, if applicable:
(please only include principal amounts)(enter all amount as positive
numbers)
Is the debt repayment schedule attached? If no, MUST explain below:
Does the entity have outstanding debt?
What are the annual lease payments?
Is the lease subject to annual appropriation?
What is the original date of the lease?
11/4/2008
Please answer the following questions by marking in the appropriate boxes
Part 4 - Please use this space to provide any explanations/comments or attach separate documentation, if needed
Number of years of lease?
PART 4 - DEBT OUTSTANDING, ISSUED, AND RETIRED
Retired during
year
TOTAL
Are the entity's Investments legal in accordance with Section 24-75-601, et.
seq., C.R.S.?
Does the entity have any lease agreements?
Does the entity have debt that has been refinanced that it is still responsible for?
How much?-$
79,500,000.00$
General obligation bonds
Revenue bonds
Notes/Loans
Lease & SBITA** Liabilities [GASB 87 & 96]
Developer Advances
Date the debt was authorized:
Does the entity intend to issue debt within the next calendar year?
If yes:
Please answer the following questions by marking the appropriate boxes.Does the entity have any authorized, but unissued, debt?
How much?
If Yes, please attach a copy of the entity's Debt Repayment Schedule.
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 use this space to provide any explanations:
Investments (if investment is a mutual fund, please list underlying investments):
PART 5 - CASH AND INVESTMENTS
5-3
If yes:
Issued during
year
Other (specify):
Please provide the entity's cash deposit and investment balances.
-$
What is the amount outstanding?-$
Outstanding at
year-end
Outstanding at
end of prior year*
Please answer the following questions by marking the appropriate boxes.
What is being leased?
Certificates of deposit
Total Cash Deposits
YEAR-END Total of ALL Checking and Savings Accounts
Total Investments
Total Cash and Investments
5
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
Yes No
6-1
6-2
6-3 Balance -
beginning of the
year*
Additions (Must
be included in
Part 3)
Deletions Year-End
Balance
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
*must tie to prior year ending balance
Yes No
7-1
7-2
-$
-$
-$
-$
-$
Yes No N/A
8-1
8-2
If yes:
Fund NameGovernmental/Proprietary Fund Name
TOTAL
Has the entity performed an annual inventory of capital assets in accordance with Section
29-1-506, C.R.S.,? If no, MUST explain:
Does the entity have a volunteer firefighters' pension plan?
General Fund
Budgeted Expenditures
Did the entity file a budget with the Department of Local Affairs for the current year
in accordance with Section 29-1-113 C.R.S.? If no, MUST explain:
PART 6 - CAPITAL AND RIGHT-TO-USE ASSETS
PART 7 - PENSION INFORMATION
Accumulated Depreciation/Amortization
(Please enter a negative, or credit, balance)
Please indicate the amount budgeted for each fund for the year reported:
Did the entity pass an appropriations resolution, in accordance with Section
29-1-108 C.R.S.? If no, MUST explain:
Tax (property, SO, sales, etc.):
Complete the following capital & right-to-use assets table:
Land
TOTAL
Does the entity have an "old hire" firefighters' pension plan?
Total Appropriations By Fund
50,000$
Please answer the following questions by marking in the appropriate boxes.
Part 6 - Please use this space to provide any explanations/comments or attach documentation, if needed:
Part 7 - Please use this space to provide any explanations or comments:
PART 8 - BUDGET INFORMATION
If yes:
Other (explain):
Please answer the following questions by marking in the appropriate boxes.
Machinery and equipment
Furniture and fixtures
Infrastructure
Construction In Progress (CIP)
Indicate the contributions from:
Leased & SBITA Right-to-Use Assets
State contribution amount:
Other (gifts, donations, etc.):
Buildings
Please answer the following questions by marking in the appropriate boxes.
What is the monthly benefit paid for 20 years of service per retiree as of Jan
1?
Does the entity have capital assets?
Who administers the plan?
6
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
Yes No
9-1
Yes No
10-1
If yes:Date of formation:
10-2
10-3
10-4
If yes:
10-5
If yes:
10-6
If yes:
Yes No N/A
10-7
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 questions by marking in the appropriate boxes.
Is the entity in compliance with all the provisions of TABOR [State Constitution, Article X, Section 20(5)]?
Please answer the following question by marking in the appropriate box
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.
Does the entity have a certified Mill Levy?
-
PART 10 - GENERAL INFORMATION
List the name of the other governmental entity and the services provided:
Is this application for a newly formed governmental entity?
Date Filed:
-
Does the entity have an agreement with another government to provide services?
Is the entity a metropolitan district?
-
Bond Redemption mills
General/Other mills
Total mills
Please provide the following mills levied for the year reported (do not report $ amounts):
If yes:Please list the NEW name & PRIOR name:
Streets, Safety, Water, Sewer, Drainage, Mosquito, Weed & Pest Control
PART 9 - TAXPAYER'S BILL OF RIGHTS (TABOR)
Please indicate what services the entity provides:
Has the entity changed its name in the past or current year?
Has the district filed a Title 32, Article 1 Special District Notice of Inactive Status during
If no, MUST explain:
Please use this space to provide any additional explanations or comments not previously included:
7
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
YES NO
12-1
Office of the State Auditor — Local Government Division - Exemption
Form Electronic Signatures Policy and Procedure
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.
PART 11 - GOVERNING BODY APPROVAL
Please answer the following question by marking in the appropriate box
If you plan to submit this form electronically, have you read the new Electronic Signature
Policy?
X0A0T
8
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
Print Board Member's Name
I Chad Becker , attest 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
Chad Becker
A MAJORITY of the members of the governing body must sign below.
I ______________________________ , attest 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:______________________
Print Board Member's Name
Board
Member
7
Board
Member
5
Print Board Member's Name
I ______________________________ , attest 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:______________________
Board
Member
1
I ______________________________ , attest 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:______________________
Print Board Member's Name
Board
Member
2
I David Dragoo, attest 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
Board
Member
6
Print Board Member's Name
Print Board Member's Name I Spencer Helwig , attest 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
Board
Member
4
David Drago
I ______________________________ , attest 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:______________________
Print Board Member's Name
Board
Member
3
Spencer Helwig
Print the names of ALL members of current
governing body below.
9
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
3/27/2024
3/25/2024
3/27/2024
EXAMPLE - DO NOT FILL OUT THIS PAGE
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.
RESOLUTION/ORDINANCE FOR EXEMPTION FROM AUDIT
(Pursuant to Section 29-1-604, C.R.S.)
A RESOLUTION/ORDINANCE APPROVING AN EXEMPTION FROM AUDIT FOR FISCAL 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 Fiscal 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 Fiscal 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 Fiscal 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 fiscal year ended ____________, 20XX.
ADOPTED THIS ___ day of _____________, A.D. 20XX.
10
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
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
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
___________________________ _______ ________________________
11
DocuSign Envelope ID: E3FC2CBC-F9B6-4A13-A799-44A0B11F74B6
