201620172018ActualEstimatedAdopted - PDF document

1 201620172018ActualEstimatedAdopted -$
201620172018ActualEstimatedAdopted -$ -$ 1 Budget201620172018 ActualEstimatedAdopted $ -$ $ - 11,750,000 - 23,600,00011,750,000 Transfer to District 1 Debt Service Fund to repay bond interest Transfer to District 3 Debt Service Fund to repay bond interest - 23,600,000 - $ -$ $ 2 Budget201620172018 ActualEstimatedAdopted $ -$ $

2 -
- 1,500 - 1,500 - $ -$ $ 3 Lorson Ranch Metropolitan District Nos. 1-7Property Taxes ear Ended 12/31/2018CombinedDistrictDistrictDistrictDistrictDistrictDistrictDistricNo. 1No. 2No. 3No. 4No. 5No. 6No. 7Vacant Land Market Value4,535,481 - 4,368,461 53,495 113,525Percentage29%29%29%29%29%29%29%29%Assessed Value1,315,840- 1,267,420 15,51

3 0 32,910Residential Marke
0 32,910Residential Market ValuePercentage7.96%7.96%Assessed ValueCommercial Market ValuePercentage29%29%Assessed Value5,730Agricultural Market Value2,167 7,827 Percentage29%29%29%29%29%29%29%29%Assessed Value3,450640 2,280Public Utility state value2,183,861250,689 Percentage29%29%29%29%29%29%29%29%Assessed ValueTotal Assessed Value 100,570Mill Levy - General Operating 9.89466.11265.1129.8949.8949.8949.8942017 Property Tax to be paid in 2018742.00$ Tax based on My for 2018 Capital - Debt$ 861,464.00-$ -$ General Operating742.00$ Total742.00$ Mill Levy Charged for 2018 - Gallagherized Capital - Debt55.19254.356 General Operating9.8949210.7569.8949.89

4 49.8949.894 Repay FMIC 2017 tax Total9
49.8949.894 Repay FMIC 2017 tax Total9.89466.11265.1129.8949.8949.8949.894 4 2018 Budget Narrative GENERAL FUND REVENUES 1. Property Taxes are based on theithin the District as Maintenance at 10.756 mills. The mill levy was adjusted due to a change in the method of calculating the residential assessed valuation from 7.96% to 7.20%. 2. Specific ownership taxes are budgeted at 11% of property taxr primarily on treasurer to all taxing entities within the county. Contingency income is budgeted for possible additional specificEXPENDITURESrgovernmental Expenses to the Contingency expense is budgeted for possible additional intergovernmental TABOR requires local governments to establish Emergency Reserves. These reserves must be at least 3% oft

5 s¶ operations and maintenanceemergency
s¶ operations and maintenanceemergency reserve is not reflectCAPITAL PROJECTS FUND rovements to the Lorson Ranch will continue to be improvements will be constructed and paid for by the Developer. They will then be certified for acceptance by District 3. Details of the budget are as follows: REVENUES or the amount of the public improvements to for District 3 public improvement costs and cost of issuance. 5 2018 Budget Narrative EXPENDITURES The District will transfer sufficient funds from the bond issuehe public improvements constructeThe estimated cost of issuance of the bonds is budgeted. The District will repay the Developer Advance with the funds from the Bond Issuance. DEBT SERVICE FUND REVENUES or Debt Service based on 54.356 miCont

6 ingency income is budgeted for possible
ingency income is budgeted for possible additional specificEXPENDITURES Contingency expense is budgeted for possible additional expenses. ADDITIONAL INFORMATION l Basis, in accordance with requirements of Crict. The District anticpates issuing bonds during 2018, the terms artime. The District is authorized to issue General Obligation Debt in an amount not to exceed $80,000,000. The limit for all ,000,000. A mill levy cap of 54.356 mills applies to the District in connection with the General f the law. RESERVES TABOR requires local governments to establish Emergency Reserves. These reserves District are transferred to Lorson Ranch Metropolitan District #1, which pays for all ofthe Districts¶ operations and maintenance costs, an emergency r