Park Meadows Metropolitan District  
               
  Financial            
                   
  On December 15, 2013, the District made its final principal and interest payment related to the Series 2006 Bonds. During 2012, the District paid off its Series 2002 Bonds. Currently, the District has no outstanding debt. This is an outstanding accomplishment for a Special/Metropolitan District in Colorado. The District is appreciative of the prudent financial management of its capital budget by this and prior Boards and the voters in the District since the District’s creation in 1984.

The 2017 budget provides for a property tax levy of 6.387 mills which translate to approximately $2.1M of property tax revenues.  The District's tax base includes the following approximate sources:

 
                   
  57.4 %   Commercial property  
  32.9 %   Residential property  
  1.5 %   Vacant property    
  8.2 %   Personal property and state assessed lands *  
                   
       * State assessed lands includes the value of items such as private utility improvements, like Xcel electric lines or CenturyLink phone lines, that are assessed on a statewide basis and shared with other local governments based on formulas that include population and geography  
                   
 

All property owners pay the same property tax rate to the District. The District has no other fees or charges associated with properties located within its boundaries.

 
                   
    History of Property Tax Rates and Assessed Values  
                   
 

The final budget is posted by January of the budget year. The previous year audit is posted by July of the current year. The 2017 budget was adopted by the Board in November 2016 and can be seen by clicking on the link below.

 
                   
    2017 Adopted Budget and Resolution      
                   
    2016 Final Financial Statement with Independent Auditor's Report    
                   
  The City of Lone Tree 2017 adopted budget may be reviewed at the following link. The District contributions are discussed in the section of the budget beginning on page 30 through 32.  
                   
     City of Lone Tree 2017 Budget  
                   
                   
  Park Meadows Metropolitan District 2015 Audit      
                   
 

The District received an unmodified (i.e., a clean) opinion from Haynie & Company, independent auditor for the District, for its 2015 audit. Receiving a clean opinion, coupled with the fact that the auditor had no adjustments related to the District’s 2015 financial statements, underscores the fact that the District can feel confident that it can rely on the financial information that is provided to its elected officials responsible for making financial decisions on behalf of the District.

The Board continues to take an active role in understanding and overseeing the District’s finances. The Board held a budget work session in October 2016 to discuss the 2017 draft budget in great detail.

 
                   
 

The Board recognizes and appreciates its responsibility of serving as the District’s financial stewards.  As such, the electorate can feel assured that the District has sound financial reporting practices and controls.

 
                   
 
 
 

Staffing

The District has no full time employees. The Board of Directors entered into an agreement with CliftonLarsonAllen LLP to provide day to day management of the District under the direction of Mr. Bob Blodgett. The District hires an independent attorney and accountant through separate agreements.  The District also contracts with the BrightView for landscape maintenance.

 
                   
    2017 BrightView Group Landscape Budget    
                   
                   
                   
                   
                   
       
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