Financial Reports


BACA GRANDE WATER AND SANITATION DISTRICT
2018 Budget Message

Introduction

The Baca Grande Water and Sanitation District (the District) is a quasi-municipal political subdivision of the State of Colorado. The District was established in 1972 to meet requirements of the District with a service plan report dated March 1972. The District provides potable water service and sanitary sewer service to customers within and outside its boundaries consisting of primarily residential and agricultural properties. Water and sewer facilities of the District are being developed in phases as necessary in accordance with the service plan. The District encompasses approximately 7,016 acres and is located approximately 180 miles southwest of Denver, northwest of the Great Sand Dunes National Park. The District is governed by a five­ member Board.

Budgetary Basis of Accounting

The District prepares its budget on the modified accrual basis of accounting and uses funds to budget and report on its financial position.

Revenues

Taxes
The District imposes a mill levy of 54.000 mills. Of the 54.000 mills, 37.000 mills are certified to the General Fund and 17.000 mills dedicated to the Debt Service Fund.

Specific ownership taxes are set by the State and collected by the County Clerk, primarily on vehicle licensing within the County as a whole. The specific ownership taxes are allocated by the County Treasurer to all taxing entities within, and including, the District.

Fees
The District imposes water and waste water usage fees and tap fees through its Enterprise Fund. In addition, availability of service fees are imposed and collected by the Debt Service Fund.

Fund Summaries

The General Fund is used to account for resources traditionally associated with government such as property taxes and specific ownership taxes. General Fund expenditures include district administration, legal services and other expenses related to statutory operations of a local government.

The Enterprise Fund
accounts for the operations that are financed and operated in a manner similar to a private business, where the intent is that costs of providing services to the public are funded primarily through usage charges. The primary sources of revenue in the Enterprise Fund are water and waste water usage fees and tap fees.

The Debt Service Fund is used to account for the Series 2009 government agency loan
obligation and Series 2017 GO Refunding Bonds which are repaid through property taxes, specific ownership taxes and availability of service fees.

The Capital Projects Fund is scheduled to complete several projects in 2018 that will improve the operating efficiency of the District's water and waste water systems.

Emergency Reserve

At the end of each year the District reserves that portion of the General Fund balance necessary to comply with the TABOR Amendment.

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