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  1. 12/11/2015 BOARD ADOPTS 2016 BUDGET
  2. The District’s 2016 budget was approved by the Platte Canyon Board of Directors following a public hearing held November 20. The budget calls for general fund expenditures amounting to $2,410,121 and capital expenditures totaling $1,347,999. Combined expenses are $3,758,119 which is $910,183 less than expected revenue of $2,847,936. The deficit will be funded by transferring funds from the District’s reserve fund and will not require an increase in the District’s property tax mill levy.

    Platte Canyon’s mill levy will remain at 7.104 mills in 2016, the same levy assessed each year since 2005. Property tax revenue, the largest source of District funds, will produce $1,588,661. Another significant source of revenue for the District is derived from charges for 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 these services is expected to be $1,157,370. Total revenue projected to be received from all sources in 2016 is $2,847,936.

    Platte Canyon is largely a service-oriented organization since the majority of administration, facility maintenance and operations are performed by District employees. Thus, 67% of all general fund expenditures are personnel costs; employee wages and benefits. These costs are expected to be $1,612,845 in 2016, approximately 4.6% higher than the amount budgeted in 2015. The total operating expense budget for 2016 is $2,410,121, 10% more than the 2015 budget. An increase in the number of water and sewer facility repairs and an office building remodeling project account for the majority of the higher expenditures.

    The capital expense budget for 2016 is $1,347,999, $738,335 for water infrastructure replacement, $210,955 for sanitary sewer main rehabilitation and $160,000 for vehicle, computer and office and maintenance equipment replacement. Capital expenditures in 2016 are $166,740 less than the amount budgeted in 2015 and are expected to continue to decline during the next five years.

    The largest capital expenditure budgeted for 2016 consists of rehabilitation of the District’s 40-year old Columbine West Pump Station at an estimated cost of $709,044. Another major project included in the 2016 capital budget calls for replacement of 1,083 feet of 6-inch cast-iron water pipe in West Portland Drive between West Ottawa Avenue and South Sheridan Boulevard in the Normandy Estates Subdivision at a cost of $223,434. The existing pipe has experienced three breaks caused by external corrosion. Additional District expenditures can be found in the Capital Master Plan.

    The 2016 District budget includes financial projections for the 10-year period between 2016 and 2025. During 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 2016 Budget is available here.