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BACA GRANDE WATER AND SANITATION DISTRICT
2017 Budget Message

Introduction

The 2017 budget was prepared in accordance with the Local Government Budget Law of
Colorado. The budget reflects the projected spending plan for the 2017 fiscal year based
on available revenues. This budget provides for the general operation of the District, and
a business like enterprise for the distribution of treated water and the collection and
treatment of waste water.

The District’s assessed value decreased 1.56% to $11,885,632 in 2016. The District’s
mill levy increased to 54.000 mills for taxes collected in the 2076 fiscal year with 17.000
mills dedicated to the Debt Service Fund, and 37.000 mills certified to the General Fund.

The District was established in 1972 to meet requirements of the District and in
accordance 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.

Budgetary Basis of Accounting

The District uses funds to budget and report on its financial position and results of its
operations. Fund accounting is designed to demonstrate legal compliance and to aid
financial management by segregating transactions related to certain functions. The
various funds determine the total District budget. The District’s General Fund is
considered a Governmental Fund and reports using the economic resources focus and the
accrual basis of accounting. The District’s Enterprise Fund reports using the economic
resources focus and the accrual basis of accounting. Revenues are recorded when earned
and expenses recorded when the liability is incurred, regardless of the timing of the
related cash flows. Property taxes are recognized as revenues in the year in which they
are levied.

Fund Summaries

The General Fund is used to account for resources traditionally associated with
government such as property taxes, specific ownership tax and expenditures which
include district administration, legal services, and other expenses related to statutory
operations of a local government. The General Fund’s primary sources of revenue are
property taxes, specific ownership taxes and interest income.

The Enterprise Fund
is used to account for the operations that are financed and operated
in a manner similar to a private business enterprise, where the intent is that costs of
providing services to the public on a continuing basis be financed primarily through
usage charges. The primary source of revenue in the Enterprise Fund comes from fees
for water and waste water usage, tap fees, and a transfer from the General Fund.

The Debt Service Fund is used to account for the Series 2009 government agency loan
obligation and Series 2010 general obligation bonds, which are repaid through property
taxes, specific ownership taxes, and availability of service fees. Below is a summary of
the District’s total long-term debt.

Baca Grande Water & Sanitation District
Series 2010 General Obligation Bonds
2009 Colorado Water Resources and Power Development Authority Loan

Principal & Interest
Maturing in the Year(s)
Ending December 31
Principal Interest Total
2017 124,684 280,992 405,676
2018 126,185 277,991 404,176
2019 177,717 274,834 452,551
2020 179,278 269,772 449,050
2021 190,872 264,678 455,550
2022 - 2026 1,059,408 1,210,847 2,270,255
2027 - 2031 1,341,268 968,984 2,310,252
2032 - 2036 1,500,000 647,750 2,147,750
2037 - 2040 1,655,000 215,000 1,870,000
Totals $6,354,412 $4,410,848 $10,765,260

The Capital Projects Fund is scheduled to complete several infrastructure
improvements to consolidate and improve the operating efficiency of the District’s water
and waste water systems, along with water rights acquisitions. These projects are
financed through the Series 2010 general obligation bonds issue and a Small Communities Grant funded through the State of Colorado.

Emergency Reserve

As required under Article X, Section 20 of the Colorado Constitution, the District has
provided for an Emergency Reserve in the amount of 3% of the total fiscal year revenues in the General Fund.

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