HomeMy WebLinkAboutMemo - Mail Packet - 9/6/2022 - Memorandum From Clay Frickey Re: Montava Metro District 2021 Annual Report
Economic Health Office
222 Laporte Avenue
Fort Collins, CO 80522
970.416.2170
970.224.6107 - fax
fcgov.com
MEMORANDUM
DATE: August 31, 2022
TO: Mayor and City Councilmembers
THROUGH: Kelly DiMartino, City Manager
Tyler Marr, Interim Deputy City Manager
Josh Birks, Deputy Sustainability Director
John Duval, Deputy City Attorney
FROM: Clay Frickey, Redevelopment Program Manager
RE: Montava Metro District 2021 Annual Report
Attached to this memo is the 2021 annual report for the Montava Metro District Nos. 1-7. State statute
requires active Metro Districts to submit their annual report to the City Clerk by September 1. City
Council does not take any action on annual reports it receives from Metro Districts. The annual report
from the Montava Metro District notes that the Metro District has collected no revenues from mill levies
to date. As such, the Montava Metro District has made no capital investments to date.
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
Montava Metropolitan District Nos. 1-7
2021 Consolidated Annual Report
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
1938.0024; 1234364
MONTAVA METROPOLITAN DISTRICT NOS. 1-7
2021 CONSOLIDATED ANNUAL REPORT
TO
THE CITY OF FORT COLLINS, COLORADO
____________
The Montava Metropolitan District Nos. 1-7 (collectively the “Districts”) hereby submit this
annual report as required pursuant to Section VII of the Service Plan of the Districts approved
September 25, 2018 (the “Service Plan”). The Districts are required to submit an annual report
with the City of Fort Collins no later than September 1st of each calendar year following the year
in which the Order and Decree creating the Districts has been issued, which annual report shall
reflect activity and financial events of the Districts through the preceding December 31 (the
"Report Year"). The Orders and Decrees creating the Districts were issued in 2019. This is the
first annual report. Also, please note that as of December 15, 2020, District Nos. 2-7 adopted
resolutions declaring inactive status, and are continuing on inactive status.
1. A narrative summary of the progress of the Districts in implementing their
service plan for the report year.
The Districts’ continue to make progress towards implementing their Service Plan. The
developer within the Districts continues to pursue development approvals necessary for the
development of property with the Districts’ service area.
2. Except when exemption from audit has been granted for the report year under
the Local Government Audit Law, the audited financial statements of the Districts for the
report year including a statement of financial condition (i.e., balance sheet) as of December
31 of the report year and the statement of operations (i.e., revenues and expenditures) for
the report year.
District Nos. 2-7 were inactive for all of the Report Year and not subject to audit
requirements. A copy of District No. 1’s 2021 audit exemption application is attached
hereto as Exhibit A. The District No. 1’s 2022 Budget is attached hereto as Exhibit B.
3. Unless disclosed within a separate schedule to the financial statements, a
summary of the capital expenditures incurred by the Districts in development of Public
Improvements in the report year.
The Districts made no capital expenditures in the report year.
4. Unless disclosed within a separate schedule to the financial statements, a
summary of the financial obligations of the Districts at the end of the report year, including
the amount of outstanding indebtedness, the amount and terms of any new District
indebtedness or long-term obligations issued in the report year, the amount of payment or
retirement of existing indebtedness of the Districts in the report year, the total assessed
valuation of all taxable properties within the Districts as of January 1 of the report year and
the current mill levy of the Districts pledged to Debt retirement in the report year
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
1938.0024; 1234364
These Districts have not issued any indebtedness in the report year. The current assessed
valuations and imposed mill levy are as follows:
District Assessed Valuation Total Imposed Mill Levy
District No. 1 $2,071 0.000
District No. 2 $2,071 0.000
District No. 3 $2,071 0.000
District No. 4 $2,071 0.000
District No. 5 $2,071 0.000
District No. 6 $2,071 0.000
District No. 7 $2,071 0.000
5. The names and contact information of the current directors on the District’s
Board, any District manager and the attorney for the District shall be listed in the report.
The District’s current office address, phone number, email address and any website address
shall also be listed in the report.
Directors:
Max Moss – 2154 E. Commons Avenue, Suite 2000, Centennial, CO –
zwhite@wbapc.com
Emily Drage – 2154 E. Commons Avenue, Suite 2000, Centennial, CO –
zwhite@wbapc.com
Manager:
None
General Counsel/District Office:
WHITE BEAR ANKELE TANAKA & WALDRON
2154 E. Commons Ave., Suite 2000
Centennial, CO 80122
Attention: Zachary P. White, Esq.
Phone: (303) 858-1800
E-mail: zwhite@wbapc.com
Website:
None
6. Any other information deemed relevant by the City Council or deemed
reasonably necessary by the City’s manager and communicated in a timely manner to the
Districts.
None requested.
7. Boundary Changes made of proposed.
No boundary changes were made or proposed during 2021.
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
1938.0024; 1234364
8. Intergovernmental agreements with other governmental entities either entered
into or proposed.
No intergovernmental agreements with other governmental entities were either entered during
the Report Year. District No. 1 proposed an intergovernmental agreement with the City
regarding consent to finance or construct water treatment facilities. The City and District No.
1 have not pursued execution of this proposed agreement.
9. Notice of any uncured events of default by the Districts, which continued beyond
a ninety (90) day period, under any debt instrument.
There was no notice of any uncured events of default by the Districts, which continued
beyond a ninety (90) day period, under any debt instrument of which we are aware.
10. Any inability of the Districts to pay their obligations as they came due, in
accordance with the terms of such obligations, which continue beyond a ninety (90) day period.
There was no inability of the District to pay its obligations as they came due, in accordance
with the terms of any such obligations, which continued beyond a ninety (90) day period.
11. Copies of the Districts’ rules and regulations, if any, as of December 31 of the
prior year.
As of December 31, 2021, the Districts had not yet adopted rules and regulations.
12. A summary of any litigation which involves the Districts’ Public
Improvements as of December 31 of the prior year.
There was no litigation involving the Districts' Public Improvements during the year
ending December 31, 2021.
13. A list of all facilities and improvements constructed by the Districts that have
been dedicated to and accepted by the City as of December 31 of the prior year.
As of December 31, 2021, the Districts had not yet constructed any Public Improvements.
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
EXHIBIT A
2021 Audit Exemption Application
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
1
here
--or--
Under the Local Government Audit Law (Section 29-1-601, et seq., C.R.S.) any local government may apply for an exemption from
audit if neither revenues nor expenditures exceed $750,000 in the year.
READ ALL INSTRUCTIONS BEFORE COMPLETING AND SUBMITTING THIS FORM
ALL APPLICATIONS MUST BE FILED WITH THE OSA WITHIN 3 MONTHS AFTER THE ACCOUNTING YEAR-END.
FOR EXAMPLE, APPLICATIONS MUST BE RECEIVED BY THE OSA ON OR BEFORE MARCH 31 FOR GOVERNMENTS WITH A
DECEMBER 31 YEAR-END.
Has the preparer signed the application?
Has the application been PERSONALLY reviewed and approved by the governing body?
POSTMARK DATES WILL NOT BE ACCEPTED AS PROOF OF SUBMISSION ON OR BEFORE THE STATUATORY DEADLINE
CHECKLIST
Did you include any relevant explanations for unusual items in the appropriate spaces at the end of each section?
If yes, have you read and understand the new Electronic Signature Policy? See new policy ->
Will this application be submitted via a mail service? (e.g. US Post Office, FedEx, UPS, courier.)
If yes, does the application include ORIGINAL INK SIGNATURES from the MAJORITY of the governing body?
APPLICATION FOR EXEMPTION FROM AUDIT
Will this application be submitted electronically?
If yes, have you included a resolution?
Does the resolution state that the governing body PERSONALLY reviewed and approved the resolution in an
open public meeting?
Has the resolution been signed by a MAJORITY of the governing body? (See sample resolution.)
GOVERNMENTAL ACTIVITY SHOULD BE REPORTED ON THE MODIFIED ACCRUAL BASIS
PROPRIETARY ACTIVITY SHOULD BE REPORTED ON A BUDGETARY BASIS
SHORT FORM
To qualify for exemption from audit, a local government must complete an Application for Exemption from Audit EACH YEAR and
submit it to the Office of the State Auditor (OSA).
Approval for an exemption from audit is granted only upon the review by the OSA.
IF EITHER REVENUES OR EXPENDITURES EXCEED $100,000, USE THE LONG FORM.
EXEMPTIONS FROM AUDIT ARE NOT AUTOMATIC
Any preparer of an Application for Exemption from Audit-SHORT FORM must be a person skilled in governmental accounting.
PRIOR YEAR FORMS ARE OBSOLETE AND WILL NOT BE ACCEPTED.
APPLICATIONS SUBMITTED ON FORMS OTHER THAN THOSE
PRESCRIBED BY THE OSA WILL NOT BE ACCEPTED.
APPLICATIONS MUST BE FULLY AND ACCURATELY COMPLETED.
FOR YOUR REFERENCE, COLORADO REVISED STATUTES
CAN BE FOUND AT:
http://www.lexisnexis.com/hottopics/Colorado/
Has the entity corrected all Prior Year Deficiencies as communicated by the OSA?
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
2
NEW METHOD!
https://apps.leg.co.gov/osa/lgWEB PORTAL:
Register and submit your Applications at our new portal!
Proprietary Activity should be reported on the Cash or Budgetary Basis
FILING METHODS
IMPORTANT!
Office of the State Auditor
QUESTIONS?
Governmental Activity should be reported on the Modified Accrual Basis
Local Government Audit Division
1525 Sherman St., 7th Floor
Denver, CO 80203
Email: osa.lg@state.co.us OR Phone: 303-869-3000
MAIL:
Failure to file an application or denial of the request could cause the local government to lose its exemption from audit for that year and the
ensuing year.
In that event, AN AUDIT SHALL BE REQUIRED.
All Applications for Exemption from Audit are subject to review and approval by the Office of the State Auditor.
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
3
Montava Metropolitan District No. 1
2154 E. Commons Ave., Suite 2000
Zachary P. White
PART 1 - CERTIFICATION OF PREPARER
NAME:
I certify that I am skilled in governmental accounting and that the information in the application is complete and accurate, to the best of
my knowledge.
NAME OF GOVERNMENT
ADDRESS
FAX
Zachary P. White
303-858-1800
For the Year Ended
12/31/21
APPLICATION FOR EXEMPTION FROM AUDIT
or fiscal year ended:Centennial, Colorado 80122
zwhite@wbapc.com
303-858-1801
SHORT FORM
CONTACT PERSON
PHONE
EMAIL
303-858-1800
31-Mar-22
General Counsel
2154 E. Commons Ave., Suite 2000, Centennial, Colorado 80122ADDRESS
FIRM NAME (if applicable)
PHONE
DATE PREPARED
TITLE
White Bear Ankele Tanaka & Waldron
Please indicate whether the following financial information is recorded
using Governmental or Proprietary fund types
GOVERNMENTAL
(MODIFIED ACCRUAL BASIS)
PROPRIETARY
(CASH OR BUDGETARY BASIS)
PREPARER (SIGNATURE REQUIRED)
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
4
Line#
2-1 Taxes:Property (report mills levied in Question 10-6)
2-2 Specific ownership
2-3 Sales and use
2-4 Other (specify):
2-5
2-6 Grants
2-7 Conservation Trust Funds (Lottery)
2-8 Highway Users Tax Funds (HUTF)
2-9 Other (specify):
2-10
2-11
2-12
2-13
2-14
2-15 Debt proceeds
2-16
2-17 Developer Advances received (should agree with line 4-4)
2-18
2-19
2-20
2-21
2-22
2-23
2-24
Line#
3-1
3-2
3-3
3-4
3-5
3-6
3-7
3-8
3-9
3-10
3-11
3-12
3-13
3-14
3-15
3-16
3-17 Debt service principal (should agree with Part 4)
3-18
3-19 Repayment of Developer Advance Principal (should agree with line 4-4)
3-20
3-21 Contribution to pension plan (should agree to line 7-2)
3-22 Contribution to Fire & Police Pension Assoc. (should agree to line 7-2)
3-23
3-24
3-25
3-26
Charges for services
Investment income
Special assessments
Proceeds from sale of capital assets
Other (specify):
-$
-$
Salaries
Payroll taxes
Contract services
-$
-$
-$
-$
-$
Administrative
-$
-$
Supplies
Public health
Streets and highways -$
-$
Utilities and telephone
Fire/Police
Repair and maintenance
-$
-$
Utility operations
Culture and recreation
-$
Employee benefits
-$
Insurance
Accounting and legal fees
Repayment of Developer Advance Interest
If TOTAL REVENUE (Line 2-24) or TOTAL EXPENDITURES (Line 3-26) are GREATER than $100,000 - STOP. You may not use this
form. Please use the "Application for Exemption from Audit - LONG FORM".
Capital outlay
-$
-$
-$
-$
PART 2 - REVENUE
Description Round to nearest Dollar
REVENUE: All revenues for all funds must be reflected in this section, including proceeds from the sale of the government's land, building, and
equipment, and proceeds from debt or lease transactions. Financial information will not include fund equity information.
Licenses and permits
-$
-$
-$
Round to nearest Dollar
-$
Donations
-$
Please use this
space to provide
any necessary
explanations
-$
Description
EXPENDITURES: All expenditures for all funds must be reflected in this section, including the purchase of capital assets and principal and
interest payments on long-term debt. Financial information will not include fund equity information.
PART 3 - EXPENDITURES/EXPENSES
Fire and police pension
-$
-$
Intergovernmental:
Fines and forfeits
(add lines 3-1 through 3-24) TOTAL EXPENDITURES/EXPENSES
Debt service interest
Other (specify):
-$
-$
-$
-$
-$
-$
-$
-$
-$
Charges for utility services
(should agree with line 4-4, column 2)
Lease proceeds
(add lines 2-1 through 2-23) TOTAL REVENUE
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
-$
Please use this
space to provide
any necessary
explanations
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
5
Yes No4-1
4-2
4-3
4-4
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
*must tie to prior year ending balance
Yes No4-5
4-6
If yes:
4-7
If yes:
4-8
Amount Total
5-1 -$
5-2 -$
-$
-$
-$
-$
-$
-$
-$
Yes No N/A
5-4
5-5
Certificates of deposit
Total Cash Deposits
YEAR-END Total of ALL Checking and Savings Accounts
Total Investments
Total Cash and Investments
Outstanding at
year-end
Outstanding at
end of prior year*
Please answer the following questions by marking the appropriate boxes.
No Debt
If Yes, please attach a copy of the entity's Debt Repayment Schedule.
Date the debt was authorized:
Does the entity intend to issue debt within the next calendar year?
What is being leased?
Issued during
year
Other (specify):
No Debt
Please provide the entity's cash deposit and investment balances.
-$
5-3
If yes:
There are no investments or deposits to date.
Are the entity's deposits in an eligible (Public Deposit Protection Act) public
depository (Section 11-10.5-101, et seq. C.R.S.)?
If no, MUST use this space to provide any explanations:
What are the annual lease payments?
Is the lease subject to annual appropriation?
Leases
Developer Advances
What is the original date of the lease?
If yes:
Please answer the following questions by marking the appropriate boxes.Does the entity have any authorized, but unissued, debt?How much?
Investments (if investment is a mutual fund, please list underlying investments):
PART 5 - CASH AND INVESTMENTS
How much?-$
3,912,000,000.00$
General obligation bonds
Revenue bonds
Notes/Loans
Number of years of lease?
PART 4 - DEBT OUTSTANDING, ISSUED, AND RETIRED
Retired during
year
TOTAL
Are the entity's Investments legal in accordance with Section 24-75-601, et.
seq., C.R.S.?
Does the entity have any lease agreements?
Does the entity have debt that has been refinanced that it is still responsible for?
What is the amount outstanding?-$
Please use this space to provide any explanations or comments:
Please answer the following questions by marking in the appropriate boxes
Is the entity current in its debt service payments? If no, MUST explain:
Please complete the following debt schedule, if applicable:
(please only include principal amounts)(enter all amount as positive
numbers)
Is the debt repayment schedule attached? If no, MUST explain:
Does the entity have outstanding debt?
11/5/2019
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
6
Yes No
6-1
6-2
6-3 Balance -
beginning of the
year*
Additions (Must
be included in
Part 3)
Deletions Year-End
Balance
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
-$ -$ -$ -$
Yes No
7-1
7-2
-$
-$
-$
-$
-$
Yes No N/A
8-1
8-2
If yes:
Buildings
Please answer the following questions by marking in the appropriate boxes.
What is the monthly benefit paid for 20 years of service per retiree as of Jan
1?
Does the entity have capital assets?
Who administers the plan?
TOTAL
Does the entity have an "old hire" firefighters' pension plan?
Total Appropriations By Fund
48,410$
Please answer the following questions by marking in the appropriate boxes.
Please use this space to provide any explanations or comments:
Please use this space to provide any explanations or comments:
PART 8 - BUDGET INFORMATION
If yes:
Other (explain):
There are no capital assets to inventory.
Complete the following capital assets table:
Land
Please indicate the amount budgeted for each fund for the year reported:
Did the entity pass an appropriations resolution, in accordance with Section
29-1-108 C.R.S.? If no, MUST explain:
Tax (property, SO, sales, etc.):
State contribution amount:
Other (gifts, donations, etc.):
Please answer the following questions by marking in the appropriate boxes.
Machinery and equipment
Furniture and fixtures
Infrastructure
Construction In Progress (CIP)
Indicate the contributions from:
Has the entity performed an annual inventory of capital assets in accordance with Section
29-1-506, C.R.S.,? If no, MUST explain:
Does the entity have a volunteer firefighters' pension plan?
General Fund
Budgeted Expenditures
Did the entity file a budget with the Department of Local Affairs for the
current year in accordance with Section 29-1-113 C.R.S.?
PART 6 - CAPITAL ASSETS
Fund NameGovernmental/Proprietary Fund Name
TOTAL
PART 7 - PENSION INFORMATION
Accumulated Depreciation
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
7
Yes No
9-1
Yes No
10-1
If yes:Date of formation:
10-2
10-3
10-4
If yes:
10-5
If yes:
10-6
If yes:
Has the entity changed its name in the past or current year?
Has the district filed a Title 32, Article 1 Special District Notice of Inactive Status during
If no, MUST explain:
Please use this space to provide any explanations or comments:
The District is authorized to provide the following services: Streets, traffic and safety control, water, sanitation, parks and recreation, storm,
drainage, mosquito control, and landscaping.
-
Bond Redemption mills
General/Other mills
Total mills
Please provide the following mills levied for the year reported (do not report $ amounts):
PART 9 - TAXPAYER'S BILL OF RIGHTS (TABOR)
Please indicate what services the entity provides:
If yes:Please list the NEW name & PRIOR name:
PART 10 - GENERAL INFORMATION
List the name of the other governmental entity and the services provided:
Is this application for a newly formed governmental entity?
Date Filed:
-
Does the entity have an agreement with another government to provide services?
Is the entity a metropolitan district?
Does the entity have a certified Mill Levy?
-
Please answer the following questions by marking in the appropriate boxes.
Is the entity in compliance with all the provisions of TABOR [State Constitution, Article X, Section 20(5)]?
Please answer the following question by marking in the appropriate box
Note: An election to exempt the government from the spending limitations of TABOR does not exempt the government from the 3 percent emergency
reserve requirement. All governments should determine if they meet this requirement of TABOR.
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
8
YES NO
12-1
Please answer the following question by marking in the appropriate box
If you plan to submit this form electronically, have you read the new Electronic Signature
Policy?
PART 11 - GOVERNING BODY APPROVAL
Office of the State Auditor — Local Government Division - Exemption
Form Electronic Signatures Policy and Procedure
Policy - Requirements
The Office of the State Auditor Local Government Audit Division may accept an electronic submission of an application for
exemption from audit that includes governing board signatures obtained through a program such as Docusign or Echosign.
Required elements and safeguards are as follows:
• The preparer of the application is responsible for obtaining board signatures that comply with the requirement in Section 29-1-604
(3), C.R.S., that states the application shall be personally reviewed, approved, and signed by a majority of the members of the
governing body.
• The application must be accompanied by the signature history document created by the electronic signature software. The
signature history document must show when the document was created and when the document was emailed to the various
parties, and include the dates the individual board members signed the document. The signature history must also show the
individuals' email addresses and IP address.
• Office of the State Auditor staff will not coordinate obtaining signatures.
The application for exemption from audit form created by our office includes a section for governing body approval.
Local governing boards note their approval and submit the application through one of the following three methods:
1) Submit the application in hard copy via the US Mail including original signatures.
2) Submit the application electronically via email and either,
a. Include a copy of an adopted resolution that documents formal approval by the Board, or
b. Include electronic signatures obtained through a software program such as Docusign or Echosign in accordance with the
requirements noted above.
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
9
Board
Member
3
Emily Moss
Print Board Member's Name
Board
Member
2
I _____Lisa Moss_________________________ , attest I am a duly elected or
appointed board member, and that I have personally reviewed and approve this
application for exemption from audit.
Signed__________________________________
Date:_____________________
My term Expires:_____May 2022_________________
Board
Member
6
Print Board Member's Name
Print the names of ALL members of
current governing body below.
Print Board Member's Name I ______Emily Moss________________________ , attest I am a duly elected or
appointed board member, and that I have personally reviewed and approve this
application for exemption from audit.
Signed__________________________________
Date:_____________________
My term Expires:______May 2022________________
Board
Member
4
Lisa Moss
I ______________________________ , attest I am a duly elected or appointed board
member, and that I have personally reviewed and approve this application for
exemption from audit.
Signed__________________________________
Date:_____________________
My term Expires:______________________
Print Board Member's Name
Print Board Member's Name
I ____Max Moss__________________________ , attest I am a duly elected or
appointed board member, and that I have personally reviewed and approve this
application for exemption from audit.
Signed__________________________________
Date:_____________________
My term Expires:_____May 2022_________________
Max Moss
A MAJORITY of the members of the governing body must complete and sign in the column below.
I ______________________________ , attest I am a duly elected or appointed board
member, and that I have personally reviewed and approve this application for
exemption from audit.
Signed__________________________________
Date:_____________________
My term Expires:______________________
Print Board Member's Name
Board
Member
7
Board
Member
5
Print Board Member's Name
I ______________________________ , attest I am a duly elected or appointed board
member, and that I have personally reviewed and approve this application for
exemption from audit.
Signed__________________________________
Date:_____________________
My term Expires:______________________
Board
Member
1
I ______________________________ , attest I am a duly elected or appointed board
member, and that I have personally reviewed and approve this application for
exemption from audit.
Signed__________________________________
Date:_____________________
My term Expires:______________________
Max Moss (Mar 31, 2022 16:28 EDT)
Lisa Moss (Mar 31, 2022 19:01 EDT)
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
Montava MD No. 1 - Audit Exemption
Application
Final Audit Report 2022-03-31
Created:2022-03-31
By:Zachary White (zwhite@wbapc.com)
Status:Signed
Transaction ID:CBJCHBCAABAApWtgGHBKwz5nqrPhnSeww4wxPyKFp5n-
"Montava MD No. 1 - Audit Exemption Application" History
Document created by Zachary White (zwhite@wbapc.com)
2022-03-31 - 8:25:16 PM GMT- IP address: 70.57.41.99
Document emailed to Zachary White (zwhite@wbapc.com) for signature
2022-03-31 - 8:26:15 PM GMT
Document emailed to Max Moss (max@hf2m.com) for signature
2022-03-31 - 8:26:15 PM GMT
Document emailed to Lisa Moss (lmoss617@gmail.com) for signature
2022-03-31 - 8:26:15 PM GMT
Document e-signed by Zachary White (zwhite@wbapc.com)
Signature Date: 2022-03-31 - 8:26:24 PM GMT - Time Source: server- IP address: 70.57.41.99
Email viewed by Max Moss (max@hf2m.com)
2022-03-31 - 8:27:31 PM GMT- IP address: 172.226.69.130
Document e-signed by Max Moss (max@hf2m.com)
Signature Date: 2022-03-31 - 8:28:01 PM GMT - Time Source: server- IP address: 104.11.151.142
Email viewed by Lisa Moss (lmoss617@gmail.com)
2022-03-31 - 10:59:45 PM GMT- IP address: 104.28.94.231
Document e-signed by Lisa Moss (lmoss617@gmail.com)
Signature Date: 2022-03-31 - 11:01:38 PM GMT - Time Source: server- IP address: 104.11.148.21
Agreement completed.
2022-03-31 - 11:01:38 PM GMT
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
EXHIBIT B
2022 Budgets
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
2020 2021 2022
Actual Adopted Budget Proposed Budget
Assessed Valuation $0.00 $0.00
Mill Levy
General Fund 0.000 0.000 0.000
Debt Service Fund 0.000 0.000 0.000
Temporary Mill Levy Reduction 0.000 0.000 0.000
Refunds and Abatements 0.000 0.000 0.000
Total Mill Levy 0.000 0.000 0.000
Property Taxes
General Fund -$ -$ -$
Debt Service Fund -$ -$ -$
Temporary Mill Levy Reduction -$ -$ -$
Refunds and Abatements -$ -$ -$
Actual/Budgeted Property Taxes -$ -$ -$
MONTAVA METROPOLITAN DISTRICT NO. 1
Assessed Value, Property Tax and Mill Levy Information
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
2020 2021 2021 2022
Actual Adopted Estimated Proposed Budget
BEGINNING FUND BALANCE -$ -$ -$ -$
REVENUE
Property Tax Revenue -$ -$ -$ -$
Specific Ownership Taxes -$ -$ -$ -$
Developer Advance -$ 55,000.00$ -$ 45,000.00$
Interest Income -$ -$ -$ -$
Miscellaneous Income -$ -$ -$ -$
Total Revenue -$ 55,000.00$ -$ 45,000.00$
Total Funds Available -$ 55,000.00$ -$ 45,000.00$
EXPENDITURES
Accounting -$ 8,000.00$ -$ 5,000.00$
Audit -$ 1,000.00$ -$ 1,000.00$
Directors' Fees -$ -$ -$ -$
Election -$ 5,000.00$ -$ 5,000.00$
Insurance/SDA Dues -$ 3,000.00$ -$ 3,000.00$
Legal -$ 20,000.00$ -$ 20,000.00$
Management -$ -$ -$ -$
Engineering -$ 5,000.00$ -$ 1,500.00$
Office Supplies/Miscellaneous -$ -$ -$ -$
Payroll Taxes -$ -$ -$ -$
Treasurer's Fees (1.5%)-$ -$ -$ -$
Contingency -$ 5,000.00$ -$ 5,000.00$
Total Expenditures -$ 47,000.00$ -$ 40,500.00$
Emergency Reserve (3%)-$ 1,410.00$ -$ 1,215.00$
Total Expenditures Requiring
Appropriation -$ 48,410.00$ -$ 41,715.00$
ENDING FUND BALANCE -$ 6,590.00$ -$ 3,285.00$
with 2020 Actual, 2020 Adopted Budget and 2020 Estimated Budget
MONTAVA METROPOLITAN DISTRICT NO. 1
Assessed Value, Property Tax and Mill Levy Information
GENERAL FUND
2022 BUDGET
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2
Administrative expenses have been primarily for legal services and insurance.
FUNDS AVAILABLE
The District’s budget exists from the developer’s advances to cover the District’s operations, including its
administrative functions.
ACCOUNTING METHOD
The District uses funds to budget and report on the financial position and results of operations.Fund accounting
is designed to demonstrate legal compliance and to aid financial management by segregating transactions
related to certain governmental functions.The various funds determine the total District budget.All of the
District's funds are considered Governmental Funds and are reported using the current financial resources and
the modified accrual basis of accounting.Revenues are recognized when they are measurable and available.
Revenues are considered available when they are collectible within the current period.For this purpose,the
District considers revenues to be available if they are collected within 60 days of the end of the current fiscal
period.Expenditures,other than the interest on long term obligations,are recorded when the liability is incurred
or the long-term obligation paid.
The District did not impose a mill levy in 2021 for collection in 2022. All funds will be advanced by the developer.
SERVICES PROVIDED
Through its Service Plan, the District is authorized to finance certain streets, street lighting, traffic and safety
controls, water, sanitary sewer, landscaping, storm drainage, mosquito control and park and recreation
improvements.
REVENUE
The primary source of funds for 2022 is developer advances with $0 of funds being derived from property tax
revenues.
EXPENDITURES
MONTAVA METROPOLITAN DISTRICT NO. 1
BUDGET MESSAGE
2022 BUDGET
INTRODUCTION
The budget reflects the projected spending plan for the 2022 fiscal year based upon available revenues. This
budget provides for the general operations of the District with no anticipation of the issuance of debt or capital
projects.
DocuSign Envelope ID: 8A78FA69-C374-483F-8D4A-78527B8D76E2