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The Paint Brush Hills Metropolitan District Board of Directors adopted the budgets for the District and its Subdistrict A at its November 8, 2018 Special Meeting. The budgets were distributed to the Board on October 14, 2018 and a Notice of Public Hearing was published in the Ranchland News on November 1, 2018 for each budget. A public hearing was held at the Board Meeting prior to the adoption of each budget. No one addressed the Board during each of the public hearings.
The 2019 District Budget contains three funds: the General Fund, the Enterprise Fund, and the Conservation Trust Fund.
The most of the General Fund’s revenue is derived from the District’s property tax revenue. The Board set the District’s 2019 mill levy at 20.035 mills, which remains below its mill levy authorization of 22.107 mills and at a slight increase from the 2018 mill levy of 19.813 mills.
The General Fund expenditures support the District’s parks development and maintenance, storm water maintenance, and governmental functions. The Board budgeted $40,000 for storm water facilities maintenance and $140,500 for parks improvements and maintenance.
The Enterprise Fund is for the operation of the District’s water and wastewater functions, and is the District’s largest and, by far, the most active of the District’s funds. It also saw the most significant year-to-year increase of all funds. Most of its increase is the result of real estate developer activity and the number of homes being built in the District. Developer reimbursements to the District represents largest portion of the increase in revenues followed by fees collected from home builders.
New to the 2019 Enterprise Fund budget is the setting aside of $301,086 in a Capital/Rehabilitation Reserve Fund. This Board-adopted fund enables the District to be prepared to absorb the cost of the major expense of rehabilitating and re-equipping any well that experiences an equipment failure. The pumps and motors in each well has a seven-year life expectancy. This creates a high likelihood that a well equipment failure can happen in any given year. In the past, the District may have been required to delay the replacement of failed well equipment until it is able to accumulate the needed funds. The District will now have a reserve fund so that more timely repairs may be made.
There is also the addition of a System Development Fee that is paid by builders on a per-lot basis and those funds are accounted for in a System Development Fund. Expenditures from the System Development Fund are limited to infrastructure development and construction that benefits the lots from which the Fee is assessed.
The Conservation Trust Fund receives quarterly revenue from the Colorado State Lottery. The expenditures from this fund are limited to improvements to and maintenance of parks, trails, and open spaces. Qualifying expenditures in the General Fund will be reimbursed from this fund.
Subdistrict A exists within the District and is the area where new residential development is occurring. The Subdistrict was created in 2015 in order to finance the required infrastructure to serve this development including wells, water and sewer lines, and storm water facilities . The repayment of the financing for this infrastructure is paid through a mill levy assessed only on the properties within the Subdistrict. The Subdistrict has its own budget that was adopted by the Board of Directors.
Click for 2019 Paint Brush Hills Metropolitan District Budget
Click for 2019 Paint Brush Hills Metropolitan District Subdistrict A Budget