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  1. 1/2/2015 BOARD ADOPTS 2015 BUDGET
  2. The District’s 2015 budget was approved by the Platte Canyon Board of Directors following a public hearing November 21. The budget calls for general fund expenditures of $2,187,285 and capital expenditures of $1,514,748. Total expenses, $3,702,033, will exceed projected 2015 revenue of $2,507,604 by $1,194,429. The deficit will be funded by a transfer from the District’s reserve fund and will not result in higher taxes.

     

    The District will assess a property tax mill levy of 7.104 mills in 2015, slightly below the 7.136 mills assessed in 2014. Property tax revenue, the largest source of District funds, will produce $1,256,337. Another significant source of revenue for the District is derived from contract operations resulting from administrative and maintenance services provided to Southwest Metropolitan, Bow Mar, Columbine, and Lochmoor Water and Sanitation Districts as well as Valley Sanitation District. Revenue produced from providing these services is estimated to be $1,079,100. Total revenue projected to be received from all sources in 2015 is $2,507,604.

     

    Platte Canyon is largely a service-oriented organization since the majority of administration and facility maintenance and operations are performed by District employees. Thus, 70 % of all general fund expenditures are personnel costs; employee wages and benefits. These costs are expected to be $1,542,565 in 2015, approximately 4% higher than the amount budgeted in 2014.

     

    District costs for contract maintenance services and pumping station operations is projected to be $195,000 in 2015, an $88,000 reduction from the 2014 budget. The 2014 budget included an expenditure for a large remedial water facility repair that is not expected to be necessary in 2015. Administrative and professional consulting services are budgeted at $249,450 in 2015, $7,250 less than the amount budgeted in 2014. Total general fund expenses budgeted for 2015 are $2,187,285, $20,377 less than the amount allocated in 2014.

     

    The budget for capital expenses in 2015 is $1,514,748; $625,000 for water asset rehabilitation, $199,800 for sanitary sewer asset rehabilitation, $391,000 for maintenance vehicle purchases and $298,948 for building repairs, office and maintenance equipment purchases and contingencies.

     

    The largest capital expense budgeted for 2015 consists of rehabilitation of the District’s 40-year old Columbine West Pump Station at an estimated cost of $625,000. Another major project included in the 2015 capital budget calls for rehabilitation of a number of deteriorating concrete sewer pipes in the Normandy Estates Subdivision at a cost of $199,800. Additional District expenditures can be found in the Capital Master Plan here.

     

     

    The 2015 District budget includes financial projections for the 10-year period between 2015 and 2024. Deficits are expected each year between 2015 and 2019 followed by surpluses in 2020 through 2023. Over the 10-year period the District reserve fund will remain at a level believed to be adequate to assure the continuation of high-quality water distribution and wastewater collection services with no increases in property tax assessments.

     

    The entire 2015 Budget is available here.