The URL can be used to link to this page

Browse Search

Home My WebLink About20220801.tiffLAW OFFICE OF MICHAEL E. DAVIS, LLC 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 February 28, 2022 Division of Local Government Department of Local Affairs 1313 Sherman Street, Room 521 Denver, CO 80203 RECEIVED FEB 2 8 2022 WELD COUNTY COMMISSIONERS Weld County Board of County Commissioners PO Box 758 Greeley, CO 80632 RE: 2021 Annual Report To Whom It May Concern: Enclosed for your records is the annual report for 2021 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 o6 Marisa Davis Senior Paralegal Enclosures 5910 S. University Blvd., Ste. C-18, #203 Greenwood Village, CO 80121 CoRKun ;Co.+;o,S 3/16/22 michael(cr�,mdavislawoffice.com (720) 324-3130 2022-0801 SDOILI PLATTE RIVER METROPOLITAN DISTRICT COUNTY OF WELD, STATE OF COLORADO ANNUAL REPORT FOR FISCAL YEAR 2021 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; j. Notice of any uncured defaults existing for more than ninety days any debt instrument of the special district; and 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. For the year ending December 31, 2021, 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 did not change in 2021. A map of the current District boundaries is attached hereto as Exhibit A. 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. 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; The District is not aware of any litigation, pending or threatened, which involves the District Public Improvements. 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; $137,862,010 h. Current year budget including a description of the Public Improvements to be constructed in such year; The budget resolution for the current year is attached hereto as Exhibit B. Public Improvements to be constructed in 2022 will be accomplished in cooperation with Weld Adams Water Development Authority. i. Audit of the District's financial statement, for the year ending December 31 of the previous year, prepared in accordance with generally accepted accounting principles or audit exemption, if applicable. The Audit for the report year is not complete and will be provided once available. J. Notice of any uncured defaults existing for more than ninety days any debt instrument of the special district. There was none. k. Any inability of the Special District to pay its obligations as they come due under any obligation which continues beyond a ninety -day period. There was none. EXHIBIT A J cc I OGVaO1OJ 'Jl1NflOJ O13M 1JIM15IO NVfl1OdO2iJ RW 2i3ATh 311V1d fl s.s;'ayapio) 1 a • fi ►a,Ilwsy•34 iCo rtr Mute 14 10 CS d mos 9 ' at th 1* rd ! 71 3 art to IN Cana =OR LUptc11 Le .4't•, lic as 12 C4 WI heed 10 'Y, APIs liv:16 Cc u il, ►t ;sc y .` a '.041 • I1cad6 MAID d t! IkI lb V C ., J. ',Arty 14049 14 rit'/IAR:1 _t 4eitS MOV1fI Y�f U! f €bt 1as A'; t1Mti ,v twain OP MMra Pis 4 LoCAbul! Co a11; Nose 1 CA, 4ryRoad '7 w e fit ve 4. Nis v find A4'y*s D LAn:.0 r *an mead co rt., 8sltdi Hells :/. UI h hoe vet t. U rk'91'A1e A. ANIS Hu;: sin 4 atti P si l 14 .r.0AMr, K .. 14 ;ie ��.• i1r • ts t:ruv^v *sad ) a a Civil Rf$'7URC S, I IC 123 B_^ Sr PO %u rams LX, Q1 6U l0) 63] 1'16 WNWaV1171600411=4410,1 CMS DsfriAVM, I,c ,w I INETILS Ma, R ]N. Were= ..AMt 'U Wu_ 211 J00art T..) L 1 en Si Y. rot .I:,vt LAST ICACf0au MITC wM IMII '. St MVP IMF ribs cp lgr45-4to is is Q Q oe WELD COUNTY, COLORADO 11w1121Ni Ip YIl1M'wl�'It►ir— II►4SSI or. air_ p4M - M. L10OS Mt Sit 506116.: ANA D/*. Noi r' a. nwgNe1 ram halidetaS K var.;. DISTRICT BOUNDARY MAP Dam 1 1 $p 3 r� /' ).r Ye wwr<nueeo.rcacox ! 1 "`l` tt '� „p. La {..�{ �SW. i ''Q^ Fr' v,' ♦.<,F 1 t V ( 7.P,"°.t.-..d� ui 1''1S it g�,� ?rl ,� y1 �3 d 1�.+" ' 'f C 3 p ,s" f ✓� j �+•-r T 1 C• - "� ra .1- V`....^77 kI1 N'¢Ib r __ I `t ,l =lw .�Srhn.re rPrdr qI �_LT e 1- Ermdri.,.--- -o, _ I (y rtaPI WET .Q 7- Fd a , _ � `� T�wuuBi. __ oWn ( —.ff ''..s.!/ �,`.. `) J , ,rr 2 .rrlr � f - T �' ✓-.v s�* _ t rev ` crs orcwrnwm ';"��w��„dr:m. y rou s®r+nr/ rr.mi� a®�en.,�. .wrm (�'•-- ^ f ,1© -� ia,�¢t�tij�'-"y f _ --�"`�,r :nth r F?'�' _ I Pum - ----�-�r • y _. CEO`+P 'r�? VW cen `f&1 r/j "i .�., J �{ "''�,�`� - rk/ .. 5^�`_'�- �F �=, ' ,' ce 461 r..-- .. e- /'t'(---^,•'-''.--' a IJII '5 _ '. �.^-'f+ ,.C`s'� � /� ,t }3 ---;.111O MPS -r-1.,,�• { ",ti, = _r_ l ,�. r - _ ."Q -, Dan I ` s11 f'y" r brntyn r` , it PLATTE RIVER METROPOLITAN DISTRICT WELD COUNTY, COLORADO ° ! Zi' '',.- r'9rrlorJ M! If t I , fr,_ 1 t M/ I -�.0 �t ;11 .n d�'n".a 1 _ nI p...,,.; , f Jt / Py*dr ,to�'' k t- -�� SU' l� z p�Rc O4 S Uu+u, / r W tr _ . s c `�'.' ,/ r Tt.a€a �.rr� ci' 51 IN i .- i�• ' iiirl r i \ice f F SL ` s y J� N1 i 1 L ,� ! �'� ._.lI i� i �` " -+JAI}. l I'S.1.,'i' • + /l / N4tr,ag .}1 )I v /��A ! '✓� ?� r✓ ,., /-'� f" .. - ,1-., 3i_ e.• .<) PM14rd1 s t �' 'S_ 4r t'�=y� ^n ft \"�, I ice, a, pSt � ��? ti ;,--c, t ,r= r........ • t) )344411 .L l . 4a * _ `ice q t _ ;� � 1 ,.. f _ J 4_,,, jinn' ��, ! �1 } vvv lieik 4f f 1f _ �� ..:. ivnh� _ ,, t �' 4,�., y i� f ,... r r.� r tY ' DISTRICT 9041NDARY MAP ' 7 O---- = z;�. � f'� i l - 1\ j �� aC r l ln��teYUlt� KGs4PDT's�"c tuna, ` r ' �_.. 4 *c J y '�� `! � t � t 1 r<�`Q • {r ,,1 'ter Nd7 —"�! .3 .ib r I 'i t' � I ` `'� -. n 3 .. n.. / r ' °`! a t'•e ''"r a\^ r rxv - �,' `� zr t ' EXHIBIT B BUDGET RESOLUTION (2022) CERTIFIED COPY OF RESOLUTION STATE OF COLORADO COUNTY OF WELD ) ss. At the regular meeting of the Board of Directors of Platte River Metropolitan District, County of Weld, Colorado, held at 1 I :30 AM on Tuesday, November 23.2021, at 7887 F. i.3elleview Ave, Suite 700, Englewood, CO 80111, by videoconfercncc at https:l/us06wcbioom.us/j/81343938876, and by teleconference at +I 669 900 6833, Meeting ID: 813 4393 8876, there were present: Robert A. Lembke Andrew Damiano Ronald E. von Lembke Joshua Shipman Also present was Michael Davis and Marisa Davis of the Law Office of Michael E. Davis, 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 a regular meeting of the Board of Directors of the District and that a notice of the meeting was posted on the District's public website or at a public place within the boundaries of the District no less than 24 hours prior to the meeting 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 von Lembke 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, 2022 AND ENDING ON THE LAST DAY OF DECEMBER, 2022. 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, 2021; and WHEREAS, the proposed 2022 budget has been submitted to the Board for its consideration; and WHEREAS, upon due and proper notice, posted in accordance with Colorado law and published on November 17, 2021 in the Greeley Tribune, 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, November 23, 2021, 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 I. Summary, of 2Q22,Revenues and 2022 Expenditures. That the estimated revenues and expenditures for each fund for fiscal year 2022, as more specifically set forth in the budget attached hereto, are accepted and approved. Section 2. dsion 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 2022, Section 3. 2022 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 $9,023,758, and that the 2021 valuation for assessment, as certified by the Weld County Assessor, is $137,862,010. That for the purposes of meeting all general operating expenses of the District during the 2022 budget year, there is hereby levied a tax of 65.455 mills upon each dollar of the total valuation of assessment of all taxable property within the District during the year 2021. Section 4. 2022 Levy of Debt Retirement Expenses. That the foregoing budget indicates that the amount of money from property tax revenue necessary to balance the buulget for the Debt Service Fund for debt retirement expense is $0 and that the 2021 valuation for assessment, as certified by the Weld County Assessor, is $137,862,010. That for the purposes of meeting all debt retirement expenses of the District during the 2022 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 2021. 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, 2021, 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. Appropriations. That the amounts set forth as expenditures and balances remaining, as specifically allocated in the budget attached hereto. are hereby appropriated from the revenue of each fund, to each fund, for the purposes stated and no other. Section 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 Shipman. RESOLUTION APPROVED AND ADOPTED ON NOVEMBER 23, 2021. PLA'1TE RIVER METROPOLITAAi D TRICF 7, By: ATTEST: Robert A. Lembke, President Ronald E. von Lembke, Assistant Secretary APPROVED AS TO FORM: LAW OFFICE OF MICHAEL E. DAVIS, LLC As General Counsel to the District STATE OF COLORADO COUNTY OF WELD PLATTE RIVER METROPOLITAN DISTRICT I, Ronald E. von Lembke, hereby certify that I am a director and the duly elected and qualified Assistant Secretary 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 11:30 AM on Tuesday, November 23, 2021, at 7887 E Belleview Ave, Suite 700, Englewood, CO 80111, by videoconfcrcnce at https:f/us06web.zoom.us/j/81343938876, and by teleconference at +1 669 900 6833, Meeting ID: 813 4393 8876, as recorded in the official record of the proceedings of the District, insofar as said proceedings relate to the budget hearing for fiscal year 2022; 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 November 23, 2021. Ronald E. von Lembke, Assistant Secretary IT A 2022 BUDGET DOCUMENT & BUDGET MESSAGE FOR PLATTE RIVER METROPOLITAN DISTRICT RESITS Property taxes Specific ownership taxes Interest Miscellaneous Total revenues EXIT TIRE S General County treasurer fees Directors' fees. District nnanagen 'ct and accounting Engineering Dues. and subscnptions Insurance and bonds Legal Miscellaneous Support services Capital Projects Capital Projects. IGA - WAWDA Total exp end.inires EXCESS OF REVENUES OVER (UNDER) FXPIYDITURES O 1 HER FLN+ CL G SOURCES Developer advances Total other financing sources NET CHANGE LN FUND BALANCE BEGINNING FUND BALANCE ENDLNG FUND BALANCE 2020 Actual Modified Accrual 2,200 6,287 4,763 2,742 1,510 17,502 E stimated Modified Accrual S 6,174,141 181,207 182 5 6..355.530 92.249 2.000 30.000 5,000 350,000 40.000 5,230,000 6,349,249 (17,502) 50.000 ,0.000 3? 498 32,498 6.2S1 6,281 3?,498 5 38,779 2022 Adopted Budget 5lodified Accrual 264.841 2h01] I) 0 9. 91.099 134.826 '.c00 20.000 5.000 .000 10,000 40.000 9,000,000 9Y1 1,3'6 73,773 73,773 38,779 112,552 PLATTE RIVER METROPOLITAN DISTRICT 2022 BUDGET SUMMARY OF SIGNIFICANT ASSUMPTIONS The District was orapni7ed to provide the public improvements within and without the boundaries of the District as such power and authority are described in the Special District Act, and other applicable statutes, common law and the State Constitution, subject to the limitations set forth in the District's Service Plan. The District's boundaries are located in Weld County, Colorado. The District prepares its budget on the modified accrual basis of accounting. The District has no employees and administrative functions are contracted. Property Taxes The primary source of ongoing revenue is property taxes. The District adopted a general fund mill levy of 65455 mills, yielding 59,023,755 in property taxes. Specific Ownership Taxes This revenue 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 Expenses Administrative expenses have been budgeted to include the services traditionally associated with government such as legal, accounting, support services, insurance, maintenance and other administrative expenses Capital Expenditures Capital expenditures have been budgeted for anticipated storm drainage and/or water improvement projects_ Leases The District has no operating or capital leases. Emergency Reserve The District has provided for an emergency reserve fund equal to 3% or more of its fiscal year spending for 2022 (excluding any bonded debt service) pursuant to TABOR Hello