RESOLUTIONS (3-6)-2024

RESOLUTION 3-2024: RESOLUTION TO ADOPT THE 2025 DISTRICT BUDGET
 

WHEREAS, the Board of Directors (the “Board”) of Timber Creek Water District (the “District”) has appointed a budget committee to prepare and submit a proposed 2025 budget to the Board at the proper time; and
WHEREAS, such budget committee has submitted the proposed budget to the Board on or before October 15, 202024 for its consideration; and

WHEREAS, upon due and proper notice, published in accordance with law, the budget was open for inspection by the public at a designated place, and a public hearing was held on November 13, 2024, and interested electors were given the opportunity to file or register any objections to the budget; and
 

WHEREAS, the budget has been prepared to comply with all terms, limitations and exemptions, including, but not limited to, enterprise, reserve transfer and expenditure exemptions, under Article X, Section 20 of the Colorado Constitution (“TABOR”) and other laws or obligations which are applicable to or binding upon the District; and
 

WHEREAS, whatever decreases may have been made in the revenues, like decreases were made to the expenditures so that the budget remains in balance, as required by law.
 

NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of Timber Creek Water District:
 

SECTION 1. The estimated expenditures for each fund are as follows:

SECTION 2. That estimated revenues are as follows:

SECTION 3. That the budget, as submitted, amended and herein summarized by fund, be, and the same hereby is, approved and adopted as the budget of Timber Creek Water District for the 2025 fiscal year.
                                                                              

SECTION 4. That the budget, as hereby approved and adopted, shall be certified by the Treasurer and/or President of the District to all appropriate agencies and is made a part of the public records of the District.

RESOLUTION 4-2024: TO SET MILL LEVIES

WHEREAS, the amount of money from property taxes necessary to balance the budget for general operating expenses is $46,398; and

WHEREAS, the 2024 valuation for assessment of the District, as certified by the County Assessor, is $11,121,360.

NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of Timber Creek Water District:
 

1. That for the purpose of meeting all general operating expenses of the District during the 2025 budget year, there is hereby levied a property tax, inclusive of the mill levy for refunds and abatements, of 4.172 mills upon each dollar of the total valuation for assessment of all taxable property within the District to raise $46,398.
2. That the Treasurer and/or President of the District is hereby authorized and directed to immediately certify to the County Commissioners of Summit County, Colorado, the mill levies for the District as hereinabove determined and set, or as adjusted, if necessary, upon receipt of the final (December) certification of valuation from the county assessor in order to comply with any applicable revenue and other budgetary limits.

RESOLUTION 5-2024: TO APPROPRIATE SUMS OF MONEY

WHEREAS, the Board of Directors of the Timber Creek Water District has made provision in the budget for revenues in an amount equal to the total proposed expenditures as set forth therein; and

WHEREAS, it is not only required by law, but also necessary to appropriate the revenues provided in the budget to and for the purposes described below, as more fully set forth in the budget, including any inter-fund transfers listed therein, so as not to impair the operations of District.

NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Timber Creek Water District that the following sums are hereby appropriated from the revenues of each fund, to each fund, for the purposes stated in the budget:
 

RESOLUTION 6-2024: RESOLUTION DESIGNATING ANY UNSPENT REVENUES AVAILABLE ON DECEMBER 31, 2024 AS NON-EMERGENCY RESERVE INCREASES

BE IT RESOLVED BY THE BOARD OF THE TIMBER CREEK WATER DISTRICT, COLORADO:

The Board of Directors of Timber Creek Water District, hereby determines and declares that any and all year end balances shall be considered a non-emergency "reserve increase" and therefore a part of 2024 fiscal year spending: within the meaning of Article X, Section 20(2)(e) of the Colorado Constitution

INTRODUCED, READ, APPROVED AND ADOPTED BY A MAJORITY OF THE BOARD OF DIRECTORS OF TIMBER CREEK WATER DISTRICT ON THIS THIRTHEENTH DAY OF NOVEMBER, 2024

TIMBER CREEK WATER DISTRICT, Summit County, Colorado.  

ADOPTED this 13th day of November 2024. 

Signatures on File