HomeMy WebLinkAbout20160843.tiff EATON AREA PARK& RECREATION DISTRICT
Box 155
Eaton, CO 80615
This is the annual report of the District to the Weld County Clerk and the Board of County
Commissioners. Following are the significant events of 2015:
1. There were no boundary changes or proposed boundary changes to the District.
2. A memorandum of understanding was proposed by the end of the year with Eaton School
District (RE-2)regarding the District's purchase of approximately 30 acres of land from
the School District for the site of the community center. This Mou was approved by the
RE-2 Board of Education in January 2016 and is being further reviewed by the District.
No other significant intergovernmental agreements have been entered into.
3. No rules or regulations have been adopted as the operating phase of the District has not
been entered.
4. The District is not in any litigation.
5. Bonds of $24,345,000 were sold in June 2015. Design of the community center being
built is continuing. After competitive proposals were reviewed, and interviews held, RLH
Engineering of Windsor was selected as the owners representative and FCI Construction
of Longmont to lead the design/build team. Ground-breaking is anticipated in the spring
of 2016 with completion in Mid-2017.
6. No facilities or improvements have been constructed by the District.RECEIVED
7. The assessed valuation for 2016 is $587,907,960.
MAR 01 2016
8. The 2016 budget summary is attached. WELD COUNTY
COMMISSIONERS
9. The District will be having a financial statement audit for 2015.
2016-0843
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GENERAL FUND
BUDGET
Eaton Area Park& Recreation District
January 1 -December 31,2016
Actual Estimated Proposed
Prior Year Current Year Budget
Description 2014 2015 2016
ESTIMATED REVENUES
Beginning Balance January 1: - - 23,688,619
Operating Revenues:
Fees
Non-Operating Revenues:
General Property Tax - - 2,913,638
S.O. Taxes (Vehicles) - - 250,000
Interest Earned - 2,000 30,000
Sale of and Compensation for loss of fixed assets
Contributions and grants 20,000 -
Proceeds of bonds - 25,223,034 -
TOTAL AVAILABLE REVENUES - 25,245,034 26,882,257
ESTIMATED EXPENDITURES
Operating Expenditures:
Administration:
Planning Expenses:
Legal fees, dues, accounting, insurance 18,000 30,000
Repay Town of Eaton 20,000
Capital Outlay - 1,000,000 15,000,000
Debt Service 538,415 1,863,638
TOTAL EXPENDITURES - 1,556,415 16,913,638
Ending Balance December 31: - 23,688,619 9,968,619
CALCULATION OF MILL LEVY
1. Amount required to balance budget from
General Property Taxes - 0 2,913,638
2. Add: Provision for Uncollectibles
3. Add: County Treasurer's Fees
4. Total Amount of Property Tax Needed - - 2,913,638
5. Assessed Valuation - 438,770,760 587,907,960
6. Mill Levy Necessary to Produce Needed
Amount(No. 4 $ =No. 5 $) _ 0 0 4.956
Rev.7/76 -2-
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