13-60 Lower S. Platte WCD - Grant Request

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0 THE DISTRICT'S FUNDS As the District completed the year, its governmental funds (as presented in the balance sheet on page 10) reported a combined fund balance of $402,939. The general fund and the capital reserve fund reported fund balances of $332,277 and $70,662 respectively. General Fund Budgetary Highlights The actual charges to appropriations (expenditures) were $190,240 below the final budget amounts due to appropriated funds budgeted and not required to be expended. Additionally, resources available for appropriation (revenues) were $187,429 less than the final budgeted amount due mostly to lower than budgeted grant revenues which is a timing difference as the grant revenues are reimbursed as expenditures are incurred. Charges for services were also less than anticipated as certain grant revenues received were returned to the landowners as a billing refund. CAPITAL ASSETS AND DEBT ADMINSTRATION Capital Assets. The District's investment in capital assets for its governmental activities as of December 31, 2011, amounts to $166,900 (net of accumulated depreciation). This amount includes a broad range of capital assets, including buildings and improvements, equipment, furniture & fixtures and transportation equipment, and the new Heyborne wetlands project. The District remains committed to the upkeep and maintenance of the District's assets. More detailed information about the District's capital assets is presented in Table 3. Table 3 • CAPITAL ASSETS ON DECEMBER 31, 2011 Equipment $ 12,573 Furniture and fixtures 54 Transportation equipment 23,316 Heyborne wetlands project 130,957 Total $ 166 -900 Long -term debt. The District has $3,516 in debt outstanding at year -end. The District entered into a loan agreement with the Colorado Water Conservation Board to fund the construction of an augmentation well and groundwater recharge ponds near the state line at Julesburg. 0 ECONOMIC FACTORS AND NEXT YEAR'S BUDGET AND RATES The District is in a good financial position. The District's revenues and expenditures remain consistent with prior years as no major projects will be undertaken. REQUESTS FOR INFORMATION This financial report is designed to provide our citizens, taxpayers, customers, investors and creditors with a general overview of the District's finances and to show the District's accountability for the funds and assets it receives. If you have questions about this report, or should you need additional financial information, contact Lower South Platte Water Conservancy District, 100 Broadway Plaza Suite 100, Sterling, Colorado 80751. IN 0