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  1. 1/10/2014 BOARD ADOPTS BUDGET FOR 2014
  2. The Platte Canyon 2014 Budget adopted by the District’s Board of Directors on November 22, 2014 projects revenues of $2,442,852 and expenditures of $3,047,151. The deficit amounting to $604,299 is attributed to non-recurring capital expenditures and will be funded by transferring money from the District’s capital reserves. Budget highlights include the following:
     
    ·       There will be no increase in property taxes for 2014. The District’s mill levy has remained stable for eight years.
     
    ·       Property taxes will again be the largest source of District revenues producing $1,260,630; $8,003 less than received in 2013.
     
    ·       Contracted administrative and maintenance services provided to Southwest Metropolitan, Bow Mar, Columbine, and Lochmoor Water and Sanitation District and Valley Sanitation District will generate $1,041,850 in revenue.
     
    ·       Income produced from capital reserve investments will again be challenged by the extremely low interest rates for U.S. Treasury and agency securities and bank certificates of deposit. Investment income in 2014 is expected to be $42,218.
     
    ·       Being a service provider, 68 percent of Platte Canyon’s expenses are related to personnel costs. The 2014 budget for employee wages and benefits is $1,477,628.
     
    ·       Non-capital repairs to the District’s extensive water delivery and wastewater collection system facilities is budgeted at $283,000, approximately $92,000 more than budgeted in 2013. The increase is attributed to large non-capital repairs scheduled for repair of large water system isolation valves.
     
    ·       Total operating expenses for 2014 are budgeted at $2,207,662; $176,938 (8.7%) more than the 2013 budget.
     
     
    ·       Capital expenses budgeted for 2014 total $839,489. Major expenditures include replacement of 1,500 feet of aging water pipe in S. Chase Wy. between W. Rowland Pl. and S. Sheridan Ct.; rehabilitation of 1,814 feet of concrete sewer pipe in Robincrest Lane and Meadowlark Lane in the Columbine Heights Subdivision; and replacement of the District outdated computerized supervisory control and data acquisition system. These three projects are expected to cost $510,177.
     
     
    The complete 2014 Budget including a comprehensive explanation of individual revenue and expense items is available at the District’s website here.