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<br />rlNANCES <br /> <br />SUCCESSFUL YEAR fiNANCIAllY <br /> <br />r'SCAL YEAR 1967/68 WAS AN EXC[PTIONALLY SIJCC[SSrUL rlNANCIAL Y[AR AND <br />IoIARK[D TH[ .IRST TlIoIE IN THR[[ yeARS THAT TH[ DISTRICT ACHI[VEO ITS LONG-T[RM <br />GOAL rDR DEPOSITS IN THE: ESCROW ACCOUNT. <br /> <br />THE ACHIEV!:M!:NT or [XC[EDING TH!: LONG-TERM GOAL DuRING- THE .ISCAL YEAR <br />~AS PARTLY ATTRIBIJTABLt TO THE FACT THAT. 'OLLOWING INCLUSION WITHIN TH[ <br />DISTRICT, THE TOWN Of ESTES PARK R[MITTED TO THE DISTRICT $57.444.55 IN BACK <br />TAX[S. THES[ AR[ TAX[S 'oiHICIi WOULD HAV[ B[[N PAID TO TH[ DISTRICT IF' EST[S <br />PARK HAD B[EN WITHIN TH[ DISTRICT SJNC[ ITS .ORMATION IN 1937. RE'ERcr,ce 10 <br />H1E INCLIJSION or EST[S PARK IS CONTAINED IN THE REPORT 01" THE SCCRETARY--MANAGER <br />.OR THC 1966/67 rlSCAL YEAR. HOW[V[R. PAYMENT or THCS[ TAX[S WAS NOT RCCEIVED <br />UNTIL JANUARY 1968. <br /> <br />OTH[R 'ACTORS CONTRIBUTING TO THE succeSS'UL CUL""NATION OF THIS .ISCAL <br />YEAR ""[R[ THC INCRCASCS IN AD VALOREM R[V[NUCS RCSIJLTING, rlRST, .ROt-< THC <br />RCV"LUATIOtl O. PROPCRTY \oIITHIN THC DISTRICT AND, SCCONDLY, .ROM N["" 6UILOINc; <br />AND DCVELOP"'["T W'HJCH CONTINIJCS TO TAI4;[ pL"ce ""ITHIN THC DISTRICT BOUlmARICS. <br /> <br />A THIRD rAVORABLE: rACTOR IS THC CONTINUING- TREND or TRANS'ERRINc; WAT[R <br />rROM LOWER RATE IRRIG-ATIo.... USe TO H'GH[R RAT[ uses SIJCH AS "'UNICIpAL AND <br />DOM[STIC SCRVICE. <br /> <br />IT 15 INTERESTING TO NOTE THAT THE rULL ,,,,pACT or THE G-[NERAL RISE IN <br />COST or OPERATION WAS NOT r[LT BY THE DISTRICT IN r,sCAL 1967/68. ALTHOUGH <br />DISTRICT REV[NUES .ROM ALL SOURCCS EXCEeDCD 1966/67 REVENU[S BY 14%. DISTRICT <br />EXpENDITIJRES DURING 1967/68 ~[RE GREATER THAN THE PRCVlOUS Y[AR BY ONLY 0.7%. <br /> <br />THE r'NANCIAL ACCOUNTS or TH[ DISTRICT weRe AIJDIT[O ON TWO OCCASIONS <br />DURING T",C rlSCAL Y!:AR. A "SURpRIS!:" AUDIT WAS COMPL[TED ON JULY 31. 1968, <br />AND A rULL AUDIT INCLUDING TH( PR[PARATION or rlNANCIAL 5T"T("'[NTS WAS COM- <br />pL[T[O AS Of" OCTOBER 31, 1968. THCSC AUDITS WER[ ptRrO_ED BY ANO[RSON, <br />I-LNT[R, THOMT[. AND KURTZ, CCRTlrlcD PuBLIC ACCOUNTANTS. <br /> <br />A COMPLETE f"INANCIAL SIJ_ARY AND BuDGCT COMPARISON APpeARS IN LAT[R PAGES <br />or THIS RCPORT. <br /> <br />- '3 - <br />