Financial Documents
Overview
The Lakes at Centerra Metro Districts were organized in 2007 to provide vital services and construct public improvements such as sanitary sewer and water infrastructure, storm drainage, streets, traffic safety, and signalization and park and recreation amenities.
Three different Lakes Districts collaborate closely; revenues and expenses are consolidated under Lakes at Centerra Metro District 1 to create efficiencies. To further pool resources and create efficiencies of scale, the Lakes Metro Districts partners with Centerra Metro Districts to fund and build infrastructure projects. These Districts work in partnership with a private developer, McWhinney, to ensure high-quality housing and commercial development in the area.
The Lakes at Centerra Metropolitan District Financial Documents
A budget for each special district is required to be submitted to the Division of Local Government on an annual basis. The budget must contain revenues, expenditures, and fund balances. Each budget must also contain a message of significant budget issues for the year, the basis of accounting, and any leases that the district is involved in. A draft budget must be presented to the board of directors by October 15th. A hearing is set for public comment thereafter. The budget document must then be adopted by December 31st (Dec 15th if levying property taxes) and submitted to the Division of Local Government by January 31st of the budget year. Special district budgets are available for review at the office of the special district, or at the Division of Local Government’s Denver office.
Link to DLG website – For comprehensive documentation, please visit DOLA's website and enter the District's Name in the "Local Government Name" box: https://dola.colorado.gov/dlg_lgis_ui_pu/
District No. 1
General Fund: $554,036
Capital Projects Fund: $153,521
District No. 2
General Fund: $351,342
Debt Service Fund: $2,472,321
District No. 3
General Fund: $379,734
Debt Service Fund: $1,463,844
Mill Levy: 92.56
A Budget Amendment (BA) is the mechanism used to revise the working budget to reflect changes that occur throughout the fiscal year. Once the working budget is completed, it can only be changed by Budget Amendment. Budget amendments are occasionally necessary and should be filed with the Division of Local Government (DLG) when adopted by a local government.
For comprehensive documentation, please visit DOLA's website and enter the District's Name in the "Local Government Name" box: https://dola.colorado.gov/dlg_lgis_ui_pu/
RESOLUTION TO AMEND 2024 BUDGET
COMES NOW, Kim Perry, the President of THE LAKES AT CENTERRA METROPOLITAN DISTRICT No. 1, and certifies that at a special meeting of the Board of Directors of the District held Friday, the 17th day of May 2024, at 11:00 a.m., via MS Teams, the following Resolution was adopted by affirmative vote of a majority of the Board of Directors, to-wit:
WHEREAS, the Board of Directors of The Lakes at Centerra Metropolitan District No. 1 appropriated funds for the fiscal year 2024 as follows:
Capital Projects Fund $ 762,829.00
and;
WHEREAS, the necessity has arisen for additional expenditures and transfers by the District due to additional costs which could not have been reasonably anticipated at the time of adoption of the budget, requiring the expenditure of funds in excess of those appropriated for the fiscal year 2024; and
WHEREAS, funds are available for such an expenditure and transfer from surplus revenue funds of the District;
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of The Lakes at Centerra Metropolitan District No. 1 shall and hereby does amend the budget for the fiscal year 2024 as follows:
Capital Projects Fund $ 1,442,785.00
BE IT FURTHER RESOLVED, that such sums are hereby appropriated from the revenues of the District to the Capital Projects Fund for the purpose stated.
RESOLUTION TO AMEND 2024 BUDGET
COMES NOW, James Laferriere, the President of THE LAKES AT CENTERRA METROPOLITAN DISTRICT No. 2, and certifies that at a special meeting of the Board of Directors of the District held Friday, the 17th day of May 2024, at 11:00 a.m., via MS Teams, the following Resolution was adopted by affirmative vote of a majority of the Board of Directors, to-wit:
WHEREAS, the Board of Directors of The Lakes at Centerra Metropolitan District No. 2 appropriated funds for the fiscal year 2024 as follows:
Debt Service Fund $ 1,844,529.00
and;
WHEREAS, the necessity has arisen for additional expenditures and transfers by the District due to additional costs which could not have been reasonably anticipated at the time of adoption of the budget, requiring the expenditure of funds in excess of those appropriated for the fiscal year 2024; and
WHEREAS, funds are available for such an expenditure and transfer from surplus revenue funds of the District;
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of The Lakes at Centerra Metropolitan District No. 2 shall and hereby does amend the budget for the fiscal year 2024 as follows:
Debt Service Fund $ 48,379,362.00
BE IT FURTHER RESOLVED, that such sums are hereby appropriated from the revenues of the District to the Debt Service Fund for the purpose stated.