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  1. 11/30/2012 PLATTE CANYON BOARD APPROVES 2013 BUDGET
  2.  
    The most significant item for Platte Canyon residents in the recently adopted 2013 budget may be the fact that the property tax mill levy will not increase for the 13th consecutive year. Despite increasing operating costs and recent large capital expenses needed to renew aging infrastructure, the Platte Canyon Board has maintained a 7.104 property tax mill levy since 2000. Property taxes will remain the District’s largest source of revenue in 2013 producing $1,267,627. Contract maintenance services provided by Platte Canyon to Southwest Metropolitan, Bow Mar, Columbine, and Lochmoor Water and Sanitation Districts and Valley Sanitation District will again generate significant revenue amounting to $1,028,850. Contract services help to offset Platte Canyon overhead expenses and achieve more efficient operations for all of the intergovernmental agreement participants. Total revenue budgeted for 2013 is $2,442,159.
     
    On the expenditure side of the District’s budget ledger, general operating expenses are projected to increase 3.4 percent to $2,030,725. Capital expenses are projected to decrease from $1.3 million budgeted in 2012 to $562,716 in 2013. A large sanitary sewer rehabilitation project completed in 2012 caused the District’s capital budget to spike for one year. Total expenditures budgeted for 2013 are $2,593,441, $151,282 more than projected 2013 revenue. The deficit will be funded by a transfer from the District’s reserve fund.
     
    The District’s 2013 Budget includes a Ten Year Financial Plan for the period 2013 through 2022. The plan projects stable administrative and operating expenses averaging $2.3 million per year. Infrastructure rehabilitation and replacement will will total $5.1 million over the ten year planning period. District capital reserves are proposed to decrease by approximately $1.0 million by 2022, but the Platte Canyon board does not believe there will be a need to increase tax revenue well into the future, as long as everything goes according to plan.