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Related Financing Activities (83,415) (77,431) Cash from (for) Investing Activities (17,017) 152,074 Increase (Decrease) (9,449) 174,834 Cash and Cash Equivalents, Beginning of Year 300,070 125,236 Cash and Cash Equivalents, End of Year $ 290,621 $ 300,070 This foregoing information is a summary of the financial information contained in the District’s financial statements. For more about the information contained in this condensed, comparative financial information, we recommend a close review of the accompanying audited financial statements beginning on page 6. Analysis of Financial Position and Operating Results Net assets increased from $854,459 in 2008 to $893,877 in 2009, a difference of $39,418 due to revenues exceeding expenses by that amount. For 2009 the District has a net asset reserve for emergencies established by the Board of Directors in the amount of $3,770. Cash and cash equivalents for 2009 decreased $9,449. Cash and cash equivalents represent approximately 32.5% of the District’s total net assets at December 31, 2009. Net capital assets increased $30,852 in 2009. The District’s Liabilities at December 31, 2009 decreased $27,889 from those at December 31, 2008. This decrease was primarily related to the payment of long term debt. The District’s 2009 operating revenues decreased $24,067 over 2008. The decrease in revenue is a result of less water use by customers during the summer months due primarily to a wetter than normal spring. The District’s operating expenses decreased by .5% to $96,682 in 2009. As a result, the operating loss for the year was $17,449. That is $19,021 more than 2008. The decrease in operating expenses was primarily due to lower repairs and maintenance costs for 2009. Net 2009 non-operating revenues had a $10,321 decrease due to lower investment earnings related primarily to much lower interest rates. 5 Cash Flows Cash and cash equivalents decreased by $9,449 in 2009. For more information about these changes in net assets, the operating activities, and cash flows see the accompanying audited financial statements beginning on page 6. Budgetary Discussion Actual revenues were $1,085,027 less than the 2009 budget related primarily to deferring the issuance of bonded debt. Capital Asset and Long Term Debt Discussion The District depreciates its infrastructure assets. See Note 1 of Notes to Financial Statements – Summary of Significant Accounting Policies – Capital Assets on page 11 and Note 4 of Notes to Financial Statements – Capital Assets on page 15. The District has various activities in process relating primarily to the acquisition of water rights. The District’s long term debt decreased by $29,827 during 2009. The District did not issue any new debt during the year. Other There are no currently known facts, decisions, or conditions, which are expected to, or may likely, have a significant effect on the financial condition and results of operation in subsequent reporting periods. Requests for information This financial report is designed to provide a general overview of the District’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to: Barry Gager, Treasurer, Thunderbird Water & Sanitation District, P.O. Box 157, Sedalia, CO 80135. Basic Financial Statements Thunderbird Water & Sanitation District Statement of Net Assets For the Year Ended December 31, 2009 (With Comparative Totals at December 31, 2008) 6 The accompanying notes are an integral part of these financial statements. 2009 2008 Assets Current Assets Cash and cash equivalents $ 2 90,621 $ 3 00,070 Investments 1 29,508 1 14,162 Accounts receivable 1 6,365 1 6,909 Property taxes receivable 7 4,662 7 3,333 Total Current Assets 5 11,156 5 04,474 Noncurrent Assets Restricted Cash -2 6,005 Capital assets Nondepreciable 1 03,071 8 6,891 Depreciable 1 ,089,983 1 ,045,875 Less: Accumulated depreciation (291,268) (261,832) Net Capital Assets 9 01,786 8 70,934 Total Noncurrent Assets 9 01,786 8 96,939 Total Assets 1 ,412,942 1 ,401,413 Liabilities Current Liabilities Accounts payable 5 ,374 4 ,564 Deferred property tax revenue 7 4,662 7 3,333 Accrued interest payable 3 ,062 3 ,263 Long-term debt, current portion 3 1,089 2 9,788 Total Current Liabilities 1 14,187 1 10,948 Noncurrent Liabilities Long-term debt 4 04,878 4 36,006 Total Liabilities 5 19,065 5 46,954 Net Assets Invested in capital assets, net of related debt 4 65,819 4 34,928 Restricted for emergencies 3 ,770 3 ,770 Unrestricted 4 24,288 4 15,761 Total Net Assets $ 8 93,877 $ 8 54,459 Thunderbird Water & Sanitation District Statement of Revenues, Expenses and Changes in Net Assets For the Year Ended December 31, 2009 (With Comparative Totals For the Year Ended December 31, 2008) 7 The accompanying notes are an integral part of these financial statements. 2009 2008 Operating Revenues Charges for services $ 77,483 $ 101,300 System development charges 1,750 2,000 Total Operating Revenues 79,233 103,300 Operating Expenses Repairs and maintenance 12,190 21,698 Legal and accounting 14,291 16,021 Insurance 3,788 3,277 Meter readings 4,354 4,352 Other 6,838 6,316 Utilities 22,127 24,856 Operating supplies 3,658 1,592 Depreciation 29,436 23,616 Total Operating Expenses 96,682 101,728 Operating Loss ( 17,449) 1,572 Nonoperating Revenues (Expenses) Property taxes 71,856 69,922 Specific ownership taxes 6,888 8,566 Investment income 1,196 11,414 Unrealized gain /(loss) on investments ( 2,867) -County treasurer fees ( 1,102) ( 1,146) Interest expense ( 19,104) ( 21,568) Total Nonoperating Revenues (Expenses) 56,867 67,188 Change in Net Assets 39,418 68,760 Net Assets, beginning of year 854,459 785,699 Net Assets, end of year $ 893,877 $ 854,459 Thunderbird Water & Sanitation District Statement of Cash Flows For the Year Ended December 31, 2009 (With Comparative Totals For the Year Ended December 31, 2008) 8 The accompanying notes are an integral part of these financial statements. 2009 2008 Cash Flows From Operating Activities Cash received from customers $ 7 9,777 $ 102,098 Cash paid to suppliers (66,436) (79,249) Net cash provided (used) by operating activities 1 3,341 22,849 Cash Flows From Non-Capital Financing Activities Property taxes levied for operations, net of fees 7 1,856 69,922 Specific ownership taxes 6 ,888 8,566 County treasurer fees (1,102) (1,146) Net cash provided (used) by non-capital financing activities 7 7,642 77,342 Cash Flows From Capital And Related Financing Activities Acquisitions and construction of capital assets (60,288) (51,864) Change in restricted cash 2 6,005 24,566 Principal paid on loan (29,827) (28,565) Interest paid on loan (19,305) (21,568) Net cash provided (used) in capital and related financing activities (83,415) (77,431) Cash Flows From Investing Activities Investment income received 3 ,062 11,414 Purchases of investments (235,079) (9,340) Sales of investments 2 15,000 150,000 Net cash provided (used) by investing activities (17,017) 152,074 Net increase (decrease) in cash and cash equivalents (9,449) 174,834 Cash and cash equivalents, beginning of year 3 00,070 125,236 Cash and cash equivalents, end of year $ 2 90,621 $ 300,070 Cash flows from investing activities do not include $4,733 of market value adjustments on investments for 2009. Thunderbird Water & Sanitation District Statement of Cash Flows (Continued) For the Year Ended December 31, 2009 (With Comparative Totals For the Year Ended December 31, 2008) 9 The accompanying notes are an integral part of these financial statements. 2009 2008 Reconciliation of Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities Operating Loss $ (17,449) $ 1,572 Adjustments to reconcile operating loss to cash provided /(used) by operating activities: Depreciation and amortization 2 9,436 23,616 Changes in assets and liabilities Accounts receivable 5 44 ( 1,202) Accounts payable 8 10 ( 1,137) Net Cash Provided (Used) by Operating Activities $ 1 3,341 $ 22,849 Thunderbird Water and Sanitation District Notes to Financial Statements December 31, 2009 10 Note 1 Summary of Significant Accounting Policies The Thunderbird Water & Sanitation District is a quasi-municipal corporation governed pursuant to provisions of the Colorado Special District Act. The District was established to provide water and sanitation services within its jurisdictional boundaries. The financial statements of the Thunderbird Water & Sanitation District have been prepared in conformity with accounting principles generally accepted in the United States of America as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The significant accounting policies are described below. Financial Reporting Entity In accordance with governmental accounting standards, the Thunderbird Water & Sanitation District has considered the possibility of inclusion of additional entities in its financial statements. The definition of the reporting entity is based primarily on financial accountability. The District is not financially accountable for any other entity, nor is the District a component unit of any other governmental entity; therefore, no other entities are included in the District’s financial statements. Basis of Accounting Enterprise fund accounting is utilized by the District in accordance with accounting principles generally accepted in the United States of America. Enterprise funds are accounted for using the economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when they are earned and expenses are recorded when incurred. Depreciation is computed and recorded as an operating expense. Expenditures for capital outlay are recognized as increases in capital assets. Retirement of bonds is recorded as a reduction of liabilities. The District distinguishes operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services in connection with the District’s principal ongoing operations. The principal operating revenues of the District are charges to customers for sales and service. Operating expenses include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. The District applies Financial Accounting Standards Board (FASB) pronouncements and Accounting Principles Board opinions issued on or before November 30, 1989, unless those pronouncements conflict with or contradict GASB pronouncements, in which case, GASB prevails. The District has elected not to follow FASB pronouncements issued since that date. Thunderbird Water & Sanitation District Notes to Financial Statements (Continued) December 31, 2009 11 Note 1 Summary of Significant Accounting Policies (Continued) Basis of Accounting (continued) The District follows the provisions of Governmental Accounting Standards Board (GASB) Statement No. 34 Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments. Statement No. 34 establishes standards for external financial reporting for all state and local governmental entities which includes a management’s discussion and analysis section; a statement of net assets; a statement of revenues, expenses, and changes in net assets; and a statement of cash flows. It requires the classification of net assets into three components: invested in capital assets, net of related debt; restricted; and unrestricted. Budgets and Budgetary Accounting Budgets are adopted on a cash basis except for accrual of current vendor invoices and utility billings. Annual appropriated budgets are adopted for the fund. All annual appropriations lapse at fiscal year end. The District adheres to the following procedures in establishing the budgetary data reflected in the financial statements: • Budgets are required by state law for all General and Special Revenue funds. The budget includes proposed expenditures and the means of financing them. All budgets lapse at year-end. • Prior to December 31, the budget is adopted by formal resolution. • Budgets are required to be filed with the State of Colorado within thirty days after the beginning of the fiscal year. • Expenditures may not legally exceed appropriations at the fund level. • The District Board must approve revisions that alter the total expenditures of any fund. • Budgeted amounts reported in the accompanying financial statements are as originally adopted by the District Board or revised by the District Board. Property, Plant and Equipment The District records property, plant and equipment at historical cost. Donated fixed assets are valued at their estimated fair value on the date donated. All assets are depreciated on a straight-line basis. The estimated useful lives are as follows: Plant and distribution system 20-50 years Equipment 3-5 years The costs of normal maintenance and repairs are charged to operations as incurred. Improvements are capitalized and depreciated over the remaining useful lives of the related assets. Thunderbird Water & Sanitation District Notes to Financial Statements (Continued) December 31, 2009 12 Note 1 Summary of Significant Accounting Policies (Continued) Property Taxes The County Treasurer collects and remits property taxes to the District monthly. Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied for the current year prior to December 31 and are payable in full on April 30 of the subsequent year, or in two installments on February 28 and June 15. Property taxes are recorded as receivables and deferred revenue when levied. As taxes are collected, the receivable and deferral are reduced and income is recognized. Assets and Liabilities Investments – investments are recorded at fair value, which approximates cost. Receivables – all receivables are reported at their book value and, where appropriate, are reduced by the estimated portion that is expected to be uncollectible. Capital assets -assets are stated at cost or estimated cost. The capitalization threshold for fixed assets is $5,000. Depreciation over the estimated useful lives of the assets is computed using the straight-line method. The estimated useful lives are 20-50 years for plant distribution system, and 3 to 5 years for operating equipment. Deferred revenues – deferred revenues include property taxes, which have been certified but not yet collected. Net Assets Equity is classified as net assets and displayed in three components: a. Invested in capital assets, net of related debt – consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. b. Restricted net assets – consists of net assets with constraints placed on the use either by (1) external groups, such as creditors, grantors, or laws or regulations of other governments; or (2) law through constitutional provisions or enabling legislation. The District utilizes restricted net assets before utilizing unrestricted net assets when an expense is incurred for both purposes. c. Unrestricted net assets – all other net assets that do not meet the definition of “restricted” or “invested in capital assets, net of related debt.” These net assets are available for future operations or distributions. Thunderbird Water & Sanitation District Notes to Financial Statements (Continued) December 31, 2009 13 Note 1 Summary of Significant Accounting Policies (Continued) Assets and Liabilities (continued) Cash Equivalents For purposes of the statement of cash flows, cash equivalents are defined as investments (including restricted assets) with maturity of three months or less at date of acquisition. The District considers certificates of deposit with maturities of more than three months at date of purchase as investments. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Note 2 Cash and Investments Cash Deposits As of December 31, 2009, the District’s cash deposits had a carrying balance of $290,621 and a corresponding bank balance of $290,877, of which $290,877 was insured by the Federal Deposit Insurance Corporation. The Colorado Public Deposit Protection Act (PDPA) requires that all units of local government deposit cash in eligible public depositories. Eligibility is determined by state regulations. Amounts on deposit in excess of federal insurance levels must be collateralized. The eligible collateral is specified under the PDPA. PDPA allows the institution to create a single collateral pool for all public funds. The pool for all the uninsured public deposits as a group is to be maintained by another institution or held in trust. The market value of the collateral must be at least equal to 102% of the uninsured deposits. The Colorado Divisions of Banking and Financial Services are required by statute to monitor the naming of eligible depositories and reporting of the uninsured deposits and assets maintained in the collateral pools. Custodial Credit Risk – Deposits Custodial credit risk is the risk that in the event of a bank failure, the District’s deposits may not be returned to it. The District does not have a deposit policy for custodial credit risk. As of December 31, 2009, none of the District’s bank deposits were exposed to custodial credit risk. At December 31, 2009, the District’s holdings of U.S. agency obligations were rated AAA by Standard & Poor’s. Thunderbird Water & Sanitation District Notes to Financial Statements (Continued) December 31, 2009 14 Note 2 Cash and Investments (Continued) Investments Colorado statutes specify in which investment instruments the units of local government may invest: • Obligations of the United States and certain United States government agency securities. • Certain international agency securities. • General obligation and revenue bonds of United States local government entities. • Bankers’ acceptances of certain banks. • Commercial paper. • Local government investment pools. • Written repurchase agreements collateralized by certain authorized securities. • Certain money market funds. • Guaranteed investment contracts. At December 31, 2009, the District had the following investments: Investment Type Weighted Average Maturity (Years) Fair Value Percent of total investments Federal Home Loan Bank 3.83 $ 129,508 100% Total Fair Value $ 129,508 100% A summary of cash and investments at December 31, 2009, is as follows: 2009 Cash deposits $ 2 90,621 Investments 1 29,508 Total cash and investments $ 4 20,129 Note 3 Accounts Receivable Accounts receivable balance at December 31, 2009, was comprised of the following: 2009 Charges for services $ 15,943 Taxes receivable 4 22 Total $ 16,365 Thunderbird Water & Sanitation District Notes to Financial Statements (Continued) December 31, 2009 15 Note 4 Capital Assets A summary of changes to capital assets for 2009 is as follows: Balance at 12/31/2008 Additions Deletions Balance at 12/31/2009 Busieness Type Activities: Nondepreciable Water rights $ 86,891 $ 16,180 $ -$ 103,071 Total Nondepreciable 86,891 16,180 -103,071 Depreciable Plant and equipment 1,045,875 44,108 -1,089,983 Total Depreciable 1,045,875 44,108 -1,089,983 TOTAL 1,132,766 60,288 -1,193,054 Less Accumulated Depreciation Plant and equipment ( 261,832) (29,436) -( 291,268) Total Accumulated Depreciation ( 261,832) (29,436) -( 291,268) Net Capital Assets $ 870,934 $ 30,852 $ -$ 901,786 Depreciation expense for the year ended December 31, 2009 was $29,436. Note 5 Long-term Debt The Colorado Water Resources and Power Development Authority issued the District revolving loans in 1999 and 2002 for water system improvements. The loans are being amortized over 20 years with installments of $12,155 and $12,411 due semi-annually, including interest at a 4.00 percent and 4.50 percent, respectively. A summary of changes in long-term debt is as follows: Amounts Balance Balance Due Within 12/31/2008 Additions Reductions 12/31/2009 One Year 1999 Revolving fund loan $ 2 01,682 $ -$ (15,429) $ 1 86,253 $ 16,108 2002 Revolving fund loan 2 64,112 -(14,398) 2 49,714 14,981 Total Long-term Debt $ 4 65,794 $ -$ (29,827) $ 4 35,967 $ 31,089 Future debt service requirements are as follows: Principal Interest Total 2010 $ 3 1,089 $ 1 8,043 $ 49,132 2011 3 2,428 1 6,704 49,132 2012 3 3,824 1 5,308 49,132 2013 3 5,279 1 3,853 49,132 2014 3 6,799 1 2,333 49,132 2015-2019 1 97,031 3 6,472 233,503 2020-2022 6 9,517 4 ,946 74,463 Total $ 435,967 $ 117,659 $ 553,626 Year ending December 31, Thunderbird Water & Sanitation District Notes to Financial Statements (Continued) December 31, 2009 16 Note 6 Tax, Spending, and Debt Limitation Article X, Section 20 of the Colorado Constitution, The Taxpayer’s Bill of Rights (TABOR), contains several limitations, including revenue raising, spending abilities, and other specific requirements of state and local governments. TABOR is complex and subject to judicial interpretation. The District believes it is in compliance with the requirements of TABOR. The District has created a Water and Wastewater statutory enterprise operation in compliance with Colorado law, which exempts certain business-like operations from Article X, Section 20 of the Colorado Constitution. Note 7 Reconciliation of Proprietary (GAAP) Revenues and Expenses to Budgetary Revenues, Expenses, and Expenditures The District prepares its budget annually. The budget comparison in this report is presented on a Non-GAAP budgetary basis. The following information is presented to reconcile to the Generally Accepted Accounting Principles (GAAP) basis financial statements for the years ended December 31, 2009. 2009 Operating Revenues -GAAP Basis $ 7 9,233 Non-Operating Revenues -GAAP Basis 7 7,073 Total Revenues -GAAP Basis 1 56,306 Reconciling Items -Total Revenues, Budgetary Basis $ 1 56,306 Operating Expenses -GAAP Basis $ 9 6,682 Non-Operating Expenses -GAAP Basis 2 0,206 Total Expenses -GAAP Basis 1 16,888 Less: Depreciation Expense (29,436) Add: Capital Outlay 6 0,288 Bond Principal 2 9,827 Total Expenses and Expenditures, Budgetary Basis $ 1 77,567 Note 8 Risk Management The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disaster. The District has taken steps to mitigate the risk of loss which includes carrying commercial liability insurance. Note 9 Restricted Net Assets The District has established an emergency reserve of $3,770 as of December 31, 2009, to comply with Article X, Section 20 of the Colorado Constitution. Note 10 Reclassifications Certain items have been reclassified from the previous year to conform with the presentation of the current years financial statements. Other Supplemental Information Thunderbird Water & Sanitation District Budgetary Comparison Schedule Non-GAAP Basis For the Year Ended December 31, 2009 See the Accompanying Independent Auditor’s Report 17 Variance Original and Final Over Budget Actual (Under) Revenues Charges for services $ 110,000 $ 77,483 $ (32,517) Interest earnings and FMV adjustments 8,000 (1,671) (9,671) Property taxes 73,333 71,856 (1,477) Specific ownership taxes 8,000 6,888 (1,112) System improvement fees 2,000 1,750 (250) Total Revenues 201,333 156,306 (45,027) Expenditures Accounting 6,000 5,940 (60) Director fees 5,000 5,600 6 00 Insurance 3,000 3,788 7 88 Legal and audit fees 10,000 8,351 (1,649) Meter reading 4,000 4,354 3 54 Miscellaneous 3,000 938 (2,062) Repairs & Maintenance 50,000 10,693 (39,307) Supplies 2,000 3,658 1 ,658 Training 500 300 (200) Utilities 25,000 22,127 (2,873) Water test fees 2,000 1,497 (503) District/Authority memberships 8,000 -(8,000) County treasurer fees 1,200 1,102 (98) Ordinary capital assets 30,000 16,180 (13,820) Loan principal 29,806 29,827 2 1 L3oan interest 19,325 19,104 (221) Total Expenditures 198,831 133,459 (65,372) Revenues Over (Under) Expenditures 2,502 22,847 2 0,345 Other Financing Sources (Uses) Bond Proceeds 1,040,000 -(1,040,000) Water rights acquisition (1,060,000) (44,108) 1 ,015,892 Total Other Financing Sources (Uses) (20,000) (44,108) (24,108) Net Change in Fund Balance $ (17,498) $ (21,261) $ (3,763) PAUL R. COCKREL JAMES P. COLLINS ROBERT G. COLE TIMOTHY J. FLYNN EVAN D. ELA LINDA G. ALEXANDER DAVID A. GREHER COLLINS COCKREL & COLE A PROFESSIONAL CORPORATION ATTORNEYS'AT LAW 390 UNION BOULEVARD, SUITE 400 DENVER, COLORADO 80228-1556 TELEPHONE: 303-986-1551 TOLL FREE: 800-354-5941 FACSIMILE: 303-986-1755 ASSOCIATES KATHRYN L. GARNER ALLISON C. ULMER OF COUNSEL ERIC C. JORGENSON JAMES M. MOCK www.cccfirm.com DIRECT E-MAIL tflynn@cccfirm.com DIRECT DIAL 303-218-7198 January 4, 2011 Mr. Scott Olene Division of Local Government Department of Local Affairs 1313 Sherman Street, Room 521 Denver, Colorado 80203 Re: Thunderbird Water and Sanitation District 2011 Adopted Budget Dear Scott: In accordance with § 29-1-113(1), C.R.S., please find enclosed a certified copy of the adopted Budget for the Thunderbird Water and Sanitation District for calendar year 2011. I have also enclosed copies of the District's Budget, Appropriation and Mill Levy Certification Resolutions. For tax year 2010, the District certified a property tax mill levy of 10.916 mills consisting of 3.549 mills for operation and maintenance, and 7.367 mills for contractual debt obligations. A copy of the District's Certification of Tax Levies to the Board of County Commissioners of Douglas County, Colorado is also enclosed. If there are any questions concerning the Thunderbird Water and Sanitation District's 2011 adopted Budget, or any of the other enclosures, please do not hesitate to give me a call at the above-referenced telephone number. For purposes of acknowledging receipt of the District's 2011 Adopted Budget and related attachments, I would appreciate it if you would execute the original Certificate of Receipt that is enclosed with this letter and return it to me in the enclosed self-addressed, stamped envelope. The photocopy of the Certificate of Receipt is for your records. {00213849.DOC I) Scott Olene Division of Local Government January 4, 2011 Page 2 Your assistance in this matter is greatly appreciated. Sincerely yours, Timothy J. Flynn TJF/cds Enclosures cc: Ed Berchem (w/encl.) Board of Directors (w/encl.) {00213849.DOC /} CERTIFICATE OF RECEIPT THUNDERBIRD WATER AND SANITATION DISTRICT The Division of Local Government, Department of Local Affairs, for the State of Colorado, does hereby acknowledge receipt of the following documents from the Thunderbird Water and Sanitation District: 1. Certified copy of the District's 2011 Adopted Budget; 2. Photocopy of the District's Budget Resolutions, including the Resolutions adopting the 2011 Budget, appropriating the funds therefore, and certifying the District's property tax mill levy for tax year 2010; and 3. Photocopy of the Certification of Tax Levies form as delivered to the Board of County Commissioners of Douglas County, Colorado DIVISION OF LOCAL GOVERNMENT DEPARTMENT OF LOCAL AFFAIRS By: Title: Date: {00213849.DOC I) CERTIFICATION OF BUDGET TO: THE DIVISION OF LOCAL GOVERNMENT DEPARTMENT OF LOCAL AFFAIRS 1313 SHERMAN STREET, ROOM 520 DENVER, COLORADO 80203 This is to certify that the budget, attached hereto, is a true and accurate copy of the budget for the Thunderbird Water and Sanitation District, Douglas County, Colorado for the budget year beginning January 1, 2011 and ending December 31, 2011, as adopted by the Board of Directors on December 9, 2010. IN WITNESS WHEREOF, I have executed this Certification of Budget as of this 9th day of December, 2010. THUNDERBIRD WATER AND SANITATION DISTRICT By: GeAltx ./Y.A1kLAAA,' arry G orris, President {00212044.DOC I) ADOPTED BUDGET THUNDERBIRD WATER AND SANITATION DISTRICT CALENDAR YEAR 2011 December 2010 2011 BUDGET MESSAGE The Thunderbird Water and Sanitation District provides water service only. The District provides potable water service to the residents and property located within