Elora Metropolitan District

A budget for each special district is required to be submitted to the Division of Local Government on an annual basis. The budget must contain revenues, expenditures, and fund balances. Each budget must also contain a message of significant budget issues for the year, the basis of accounting, and any leases that the district is involved in. A draft budget must be presented to the board of directors by October 15th. A hearing is set for public comment thereafter. The budget document must then be adopted by December 31st (Dec 15th if levying property taxes) and submitted to the Division of Local Government by January 31st of the budget year. Special district budgets are available for review at the office of the special district, or at the Division of Local Government’s Denver office.

Link to DLG website – For comprehensive documentation, please visit DOLA's website and enter the District's Name in the "Local Government Name" box: https://dola.colorado.gov/dlg_lgis_ui_pu/

Combined Funds: $15,274,285.00

Mill Levy: 83.116

General Fund: $121,865.00

 Debt Service Fund: $1,417,413.00

 Capital Fund: $13,735,008.00

A Budget Amendment (BA) is the mechanism used to revise the working budget to reflect changes that occur throughout the fiscal year. Once the working budget is completed, it can only be changed by Budget Amendment. Budget amendments are occasionally necessary, and should be filed with the Division of Local Government (DLG) when adopted by a local government.

For comprehensive documentation, please visit DOLA's website and enter the District's Name in the "Local Government Name" box: https://dola.colorado.gov/dlg_lgis_ui_pu/

RESOLUTION NO. 2025-05-01
RESOLUTION TO AMEND BUDGET
RESOLUTION OF THE ELORA METROPOLITAN DISTRICT
TO AMEND THE 2025 BUDGET
Pursuant to Section 29-1-109, C.R.S., the Board of the Elora Metropolitan District (the
“District”), hereby certifies that a special meeting of the Board of Directors of the District was
held on November 7, 2024 via Zoom video/telephone conference.
A. At such meeting, the Board of Directors of the District adopted a resolution
adopting a budget and appropriating funds for the fiscal year 2025 as follows:
General Fund: $121,865
Debt Service Fund: $10,803,373
Capital Fund: $13,735,008
B. The necessity has arisen for additional Debt Service Fund and Capital Fund
appropriations requiring the expenditure of funds in excess of those appropriated for the fiscal
year 2025.
C. The source and amount of revenues for such expenditures, the purposes for which
such revenues are being appropriated, and the fund(s) which shall make such supplemental
expenditures are described on Exhibit A, attached hereto and incorporated herein by this
reference.
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of the Elora
Metropolitan District shall and hereby does amend the budget for the fiscal year 2025 as follows:
Debt Service Fund: $16,005,533
Capital Fund: $13,833,030
BE IT FURTHER RESOLVED, that such sum is hereby appropriated from unexpected
revenues available to the District to the Debt Service Fund and the Capital Fund for the purposes
stated.

RESOLUTION NO. 2024-11-02
RESOLUTION TO AMEND BUDGET
RESOLUTION OF THE ELORA METROPOLITAN DISTRICT
TO AMEND THE 2024 BUDGET
Pursuant to Section 29-1-109, C.R.S., the Board of the Elora Metropolitan District (the
“District”), hereby certifies that a special meeting of the Board of Directors of the District was
held on November 9, 2023 via Zoom video/telephone conference.
A. At such meeting, the Board of Directors of the District adopted a resolution
adopting a budget and appropriating funds for the fiscal year 2024 as follows:
General Fund: $35,004
Debt Service Fund: $-0-
B. The necessity has arisen for additional General Fund and Debt Service Fund
appropriations requiring the expenditure of funds in excess of those appropriated for the fiscal
year 2024.
C. The source and amount of revenues for such expenditures, the purposes for which
such revenues are being appropriated, and the fund(s) which shall make such supplemental
expenditures are described on Exhibit A, attached hereto and incorporated herein by this
reference.
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of the Elora
Metropolitan District shall and hereby does amend the budget for the fiscal year 2024 as follows:
General Fund: $130,004
Debt Service Fund: 50,000
BE IT FURTHER RESOLVED, that such sum is hereby appropriated from unexpected
revenues available to the District to the General Fund and the Debt Service Fund for the purposes
stated.

An annual audit of the financial affairs of the district must be completed by every District by June 30 and filed with the Office of the State Auditor by July 31.

A district that has annual revenues or expenditures of less than $750,000 may apply to the Office of the State Auditor for an exemption from audit. The exemption is not automatic, it must be granted, and the request must be filed by March 31.