HomeMy WebLinkAbout20202560.tiffPLATTE RIVER METROPOLITAN DISTRICT
COUNTY OF WELD, STATE OF COLORADO
ANNUAL REPORT FOR FISCAL YEAR 2020
Pursuant to the Service Plan for Platte River Metropolitan District (the "District"), the
District is required to provide an annual report to the County of Weld (the "County") with regard
to the following matters:
a. Boundary changes made or proposed to the District's boundary as of December of the
prior year;
b. Intergovernmental Agreements with other governmental entities, either entered into or
proposed as of December 31 of the prior year;
c. Copies of the District's rules and regulations, if any, as of December 31 of the prior year;
d. A summary of any litigation which involves the District Public Improvements as of
December 31 of the prior year;
e. Status of the District's construction of the Public Improvements as of December 31 of the
prior year;
f. A list of all facilities and improvements constructed by the District that have been
dedicated to and accepted by the County as of December 31 of the prior year;
g.
The estimated assessed valuation of the District for the current year;
h. Current year budget including a description of the Public Improvements to be constructed
in such year;
i. Audit of the District's financial statement, for the year ending December 31 of the
previous year, prepared in accordance with generally accepted accounting principles or
audit exemption, if applicable.
For the year ending December 31, 2020, the District makes the following report:
a. Boundary changes made or proposed to the District's boundary as of December of the
prior year;
The District boundaries changed in 2020. A map of the current District boundaries is
attached hereto as Exhibit A.
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b. Intergovernmental Agreements with other governmental entities, either entered into or
proposed as of December 31 of the prior year;
No Intergovernmental Agreements were entered into or proposed during the reporting
period. The District entered into Establishing Contracts with Weld Adams Water
Development Authority and Front Range Infrastructure Authority Establishing Contact
on June 23, 2020 and November 17, 2020, respectively.
c. Copies of the District's rules and regulations, if any, as of December 31 of the prior year;
There are no rules or regulations.
d. A summary of any litigation which involves the District Public Improvements as of
December 31 of the prior year;
This is no litigation, pending or threatened, against the District or which we are aware.
e. Status of the District's construction of the Public Improvements as of December 31 of the
prior year;
No public improvements were constructed by the District during the reporting period.
f. A list of all facilities and improvements constructed by the District that have been
dedicated to and accepted by the County as of December 31 of the prior year;
No facilities and improvements were constructed by the District during the reporting
period, and no facilities or improvements have been dedicated to the County as December
31St of the report year.
g. The estimated assessed valuation of the District for the current year;
$93,956,320
h. Current year budget including a description of the Public Improvements to be constructed
in such year;
The budget resolution for the report year is attached hereto as Exhibit B.
i. Audit of the District's financial statement, for the year ending December 31 of the
previous year, prepared in accordance with generally accepted accounting principles or
audit exemption, if applicable.
The District was exempted from audit pursuant to §29-1-604, C.R.S. The Audit
Exemption Application for the report year is not complete and will be provided once
available.
EXHIBIT A
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EXHIBIT B
BUDGET RESOLUTION
(2020)
CERTIFIED COPY OF RESOLUTION
STATE OF COLORADO
COUNTY OF WELD
) ss.
At the organizational meeting of the Board of Directors of Platte River Metropolitan District, County
of Weld, Colorado, held at 11:30 AM on Tuesday, January 28, 2020, at 7995 East Prentice Avenue, Suite
103E, Greenwood Village, Colorado, there were present:
Robert A. Lembke
Andrew Damian
Ronald E. von Lembke
Theodore Joshua Shipman
Jason vonLembke
Also present was Dianne Miller/Michael Davis of Miller & Associates Law Offices, LLC ("District
Counsel")
District Counsel reported that, prior to the meeting, legal counsel had notified each of the directors of
the date, time and place of this meeting and the purpose for which it was called. District Counsel further
reported that this is an organizational meeting of the Board of Directors of the District and that a notice of the
meeting was posted in at three (3) places within the boundaries of the District and at the Weld County Clerk
and Recorder's Office, and to the best of their knowledge, remains posted to the date of this meeting.
Thereupon, Director 0,4 introduced and moved the adoption of the following Resolution:
RESOLUTION
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND, ADOPTING
A BUDGET, LEVYING GENERAL PROPERTY TAXES FOR THE YEAR TO HELP DEFRAY THE
COSTS OF THE GOVERNMENT, AND APPROPRIATING SUMS OF MONEY TO THE VARIOUS
FUNDS IN THE AMOUNTS AND FOR THE PURPOSES SET FORTH HEREIN FOR THE PLATTE
RIVER METROPOLITAN DISTRICT, WELD COUNTY, COLORADO, FOR THE CALENDAR YEAR
BEGINNING ON THE FIRST DAY OF JANUARY, 2020 AND ENDING ON THE LAST DAY OF
DECEMBER, 2020.
WHEREAS, the Board of Directors (the "Board") of the Platte River Metropolitan District (the
"District") has authorized its consultants, treasurer and legal counsel to prepare and submit a proposed budget
to said governing body no later than October 15, 2019; and
WHEREAS, the proposed 2020 budget has been submitted to the Board for its consideration; and
WHEREAS, upon due and proper notice, posted in accordance with Colorado law, said proposed
budget was open for inspection by the public at a designated place, a public hearing was held at 11:30 AM on
Tuesday, January 28, 2020, 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 PLATTE
RIVER METROPOLITAN DISTRICT, WELD COUNTY, COLORADO, AS FOLLOWS:
Section 1. Summary of 2020 Revenues and 2020 Expenditures. That the estimated revenues and
expenditures for each fund for fiscal year 2020, 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 2020.
Section 3. 2020 Levy of General Property Taxes. That the foregoing budget indicates that
the amount of money from property tax revenue necessary to balance the budget for the General Fund for
operating expenses is $0, and that the 2019 valuation for assessment, as certified by the Weld County Assessor,
is $390. That for the purposes of meeting all general operating expenses of the District during the 2020 budget
year, there is hereby levied a tax of 0.000 mills upon each dollar of the total valuation of assessment of all
taxable property within the District during the year 2019.
Section 4. 3020 Levy of Debt Retirement Expenses. That the foregoing budget indicates that the
amount of money from property tax revenue necessary to balance the budget for the Debt Service Fund for
debt retirement expense is SO and that the 2019 valuation for assessment, as certified by the Weld County
Assessor, is $390. That for the purposes of meeting all debt retirement expenses of the District during the
2020 budget year, them is hereby levied a tax of 0.000 mills upon each dollar of the total valuation of
assessment of all taxable property within the District during the year 2019.
Section 5. Certification to Board of County Commissioners. That the attorney, accountant or
manager for the District is hereby authorized and directed to certify to the Weld County Board of County
Commissioners, no later than December 15, 2019, the mill levies for the District hereinabove determined and
set. That said certification shall be substantially in the same form as attached hereto and incorporated herein
by this reference.
Section 6. Anaropriations. That the amounts set forth as expenditures and balances remaining, as
specifically allocated in the budget attached hereto, are hereby appropriated from the revenue of each find, to
each fund, for the purposes stated and no other.
Section 7. Budget Certification. That the budget shall be certified by the Secretary/Treasurer of
the District, and made a part of the public records of the District.
The foregoing Resolution was seconded by Director 1)A$/4 IAAIQ
RESOLUTION APPROVED AND ADOPTED ON JANUARY 28, 2020.
PLA n E RIVE'ROPOLITAN DISTRICT
By:
ATTEST:
C) ,.Men "n,i p_ . Seeretaryr'rreasurer
President
STATE OF COLORADO
COUNTY OF WELD
PLATTE RIVER METROPOLITAN DISTRICT
I. lovca7t sto t Ltmk*Q._ , hereby certify that 1 am a director and the duly elected and
qualified Secretary/ treasurer of Platte River Metropolitan District (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 meeting of the Board of Directors of the District held at 1 I :30 AM on Tuesday, January 28.2020,
at 7995 East Prentice Avenue. Suite 103E. Greenwood Village, Colorado as recorded in the official record of
the proceedings of the District, insofar as said proceedings relate to the budget hearing for fiscal year 2020;
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.
IN WITNESS WHEREOF. I have hereunto subscribed my name on January 20, 20211.
I�intU tusc . Secretary/Treasurer
EXHIBIT A
2020 BUDGET DOCUMENT & BUDGET MESSAGE FOR
PLATTE RIVER METROPOLITAN DISTRICT
ACTUAL 2018
ESTIMATED
2019
ADOPTED 2020
Beginning Funds Available
0
0
0
Revenue:
Property Taxes
0
0
0
Specific Ownership Taxes
0
0
0
Refunds/Other
0
0
0
Developer Advance
0
0
40,1100
Total Revenue
0
0
48,000
Total Funds Available
0
0
49,440
Exoendimres:
County Treasurer's Collection Fees
0
0
0
Insurance and Bonds
0
0
3,000
Accounting and Legal
0
0
40,000
Election Costs
0
0
3,000
Capital Improvements
0
0
0
Utilities (Public Service)
0
0
0
Miscellaneous
0
0
2,000
Directors' Fees
0
0
Developer Reimbursements
0
0
0
Total Expenditures
0
0
48,000
Ending Funds Available
0
0
1,440
Emergency Reserve
0
0
1,440
Certified Assessed Valuation
0
0
390
Mill Levy -General
0.000
0.000
0.000
Property Taxes (est.)
0
0
0
PLATTE RIVER METROPOLITAN DISTRICT
2020 BUDGET
SUMMARY OF SIGNIFICANT ASSUMPTIONS
Services Provided
The District was organized to provide construction, installation, financing and operation of certain
public improvements and facilities, including streets, street lighting, traffic and safety controls, water
improvements, sanitary sewer and storm drainage improvements, landscaping, and park and recreation
improvements. The District prepares its budget on the modified accrual basis of accounting
Revenue
The primary source of funds for 2020 is developer advances. The District anticipates receiving
developer advances in the amount of $48,000 to pay for operations and maintenance expenses. Revenue
received from specific ownership taxes, if any, is based on a sharing of the collection of vehicle ownership
taxes pooled by the County. The estimate is based on a ratio to property taxes.
Administrative Exnenses
Administrative expenses have been budgeted based on estimates of the District's Board of Directors
and consultants to include services necessary to maintain the District's administrative viability, such as legal,
accounting, managerial, general engineering, insurance, meeting expenses and other administrative costs and
expenses.
Emergency Reserve
The District has provided for an emergency reserve fund equal to at least 3% of fiscal year spending
for 2020, as defined under TABOR.
LAW OFFICE OF MICHAEL E. DAVIS, LLC
February 26, 2021
Office of the State Auditor
Local Government Audit Division
1525 Sherman Street, 7th Floor
Denver, CO 80203
Weld County Clerk & Recorder
1402 North 17th Avenue
Greeley, CO 80631
Division of Local Government
Department of Local Affairs
1313 Sherman Street, Room 521
Denver, CO 80203
Weld County Board of County Commissioners
P.O. Box 758
Greeley, CO 80632
RE: 2020 Annual Report
To Whom It May Concern:
Enclosed for your records is the annual report for 2020 for the below captioned district.
Please contact me with any questions or concerns. Thank you.
Platte River Metropolitan District
LAW OFFICE OF MICHAEL E. DAVIS, LLC
1(1
Marisa Davis
Senior Paralegal
Enclosures
5910 S. University Blvd., Ste. C-18, #203 michael(amdavislawoffice.com
Greenwood Village, CO 80121 (720) 324-3130
From: Marisa Davis
To: Karla Ford; CTB-weld-districts; osa.lcastate.co.us
Cc: Michael Davis
Subject: Platte River Metro District - 2020 Annual Report
Date: Friday, February 26, 2021 2:38:01 PM
Attachments: 2020 Annual Report - PRMD - FINALE&
Good afternoon,
Attached please find the 2020 annual report for Platte River Metropolitan District. Do not hesitate to
contact me should you require additional information. Thank you.
Sincerely,
MARISA DAVIS, SENIOR PARALEGAL
LAW OFFICE OF MICHAEL E. DAVIS, LLC
marisa@indavislawoffice.com
(720) 385-4006
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