2019Annual Budget
Northern Colorado Water Conservancy DistrictMunicipal Subdistrict
MunicipalSubdistrict
B
Municipal Subdistrict, Northern Colorado Water Conservancy District
Table of Contents
Transmittal Letter 1
Our Business Plan 2
General 3
History 4
Service Area and Windy Gap Project Participants 5
Distinguished Budget Presentation Award 6
Community Profile of the Eight Largest Windy Gap Participants 7
Largest Employers 11
Population and Jobs Trends 12
Board of Directors 13
Budget Process 14
Fiscal Policies 15
Subdistrict Organizational Chart 16
Budget Appropriations 17
Windy Gap Water Activity Enterprise Fund Overview 17
Windy Gap Firming Project Water Activity Enterprise Fund Overview 33
Acronyms 39
Glossary 41
Appropriation Resolution 46
Contingency Appropriation Resolution 48
1
Transmittal Letter
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictIntroduction
To the President and Board of Directors,
We are pleased to present a fiscally sound operating and capital budget for fiscal year 2019. The spending plan is just one part of a long-term commitment to provide quality services while preserving long-term financial viability of the Municipal Subdistrict. This budget is designed to fulfill the Subdistrict’s mission: “To provide water resources management, project operations and water conservation services for our project beneficiaries.”
After receiving the final federal permit needed for the Windy Gap Firming Project in May 2017, the focus for fiscal year 2018 and continuing into 2019 is to advance the project so construction of the Chimney Hollow Reservoir may begin. This project is needed to meet a portion of the existing and future wholesale water supply demands within the boundaries of the Subdistrict. Planning, design and funding of the Colorado River Connectivity Channel will continue during fiscal year 2019. Other activities and programs for the Windy Gap Project will be consistent with the past.
Fiscal Year 2019 Budget Summary and Highlights
Windy Gap Water Activity Enterprise Fund
Total Sources of Funds are estimated to be $5.9 million, $0.5 million or approximately 8 percent lower than fiscal year 2018 • Operating revenues totaling $5.2 million • No change in assessment deferral charge - $36 per acre-foot • Other revenues totaling $0.2 million • Contributions totaling $0.5 million for the Colorado River Connectivity Channel
Operating expenses of $5.3 million reflect an increase of $0.2 million or approximately 5 percent higher than fiscal year 2018 • Largest expense is carriage costs amounting to $2.6 million • Programs totaling $1.3 million
Capital Project expenditures of $0.9 million are planned primarily for the Colorado River Connectivity Channel and the pipeline electromagnetic test
Windy Gap Firming Project Water Activity Enterprise Fund
Total Sources of Funds are estimated to be $521.6 million, $514.1 million more than fiscal year 2018, due to anticipated funding for project construction
Capital Project expenditures of $122.5 million are planned for design, mitigation and enhancements and construction for the Chimney Hollow Reservoir
We believe the budget for the Subdistrict’s 49th year of operation meets the Board’s conservative fiscal management and management’s commitment to accountability and strong fiscal management.
Respectfully,
/s/ Bradley D. Wind
Bradley D. WindGeneral Manager
2
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictOur Business Plan
Our Mission
Provide water resources management, project operations and conservation services for project beneficiaries.
Our Values and Principles
• Collaborative, proactive and progressive leadership• Water resources conservation• Environmental stewardship• Personal and corporate ethical integrity and professionalism• Solution-oriented service• Regional cooperation
Our Vision
The Subdistrict will be a leader in insuring a secure water future for northern Colorado.
Our Priorities
• Collect and deliver water• Protect and conserve water supplies• Plan and implement new water supply projects• Cultivate operational and organizational excellence• Maintain and strengthen relationships
Financial Plan - Revenue
Program Objectives
Routine Responsibilities
Annual Budget
Long-Term Board Priorities
Strategic Initiatives
Major Projects
Our Planning Road Map
3
The Subdistrict was organized as a subdistrict of Northern Colorado Water Conservancy District (Northern Water) by decree of the District Court of Weld County, Colorado, on July 6, 1970, pursuant to the Water Conservancy Act. Under the Water Conservancy Act, a subdistrict thus formed is a separate and independent conservancy district with the same powers and legal standing as its parent district and is an independent political subdivision of the State of Colorado. The Subdistrict has the authority to undertake projects separate from those undertaken by Northern Water. The Subdistrict has an agreement with Northern Water whereby Northern Water provides all administrative, operation and maintenance functions for the Subdistrict, and is reimbursed by the Subdistrict for the services rendered.
The Board of the Subdistrict is, by statute, the same as the Board of Northern Water. It has been the practice of the Subdistrict to elect a different slate of officers from those chosen by Northern Water. The staff of Northern Water serves as the staff of the Subdistrict, with the Subdistrict reimbursing Northern Water for the actual time of such staff plus an additional percentage to cover costs and overhead. Northern Water does not approve or modify the Subdistrict’s budget, hold title to any of the Subdistrict’s water rights, authorize issuance of Subdistrict’s bonds or appoint the Subdistrict’s Board or management. Therefore, the Subdistrict is not under control of Northern Water and is not included in Northern Water’s financial reports. The Subdistrict’s fiscal year end is September 30.
The Windy Gap Project
The Windy Gap Project is located just west of the Town of Granby on Colorado’s Western Slope. It consists of a diversion dam on the Colorado River that creates the 445 acre-foot Windy Gap Reservoir, a pumping plant, and a six mile pipeline to Lake Granby. This system is capable of delivering an average of 48,000 acre-feet of water annually, diverted primarily during the spring runoff season between April and July. During these periods of high flows in the Colorado and Fraser rivers, water is pumped from Windy Gap Reservoir to Lake Granby, where it is stored for delivery through the Colorado-Big Thompson Project (C-BT Project) facilities to water users on the Front Range.
Water Allotment Contracts
The Subdistrict has entered into water allotment contracts with each of the initial participants and participating transferees. Allotment contracts provide that participants annually receive their proportional share of Windy Gap water. Every unit equals 100 acre-feet of water, or 1/480 of the annual average yield produced. Each water allotment contract requires participants to make annual payments equal to the corresponding share of the costs related to the Subdistrict’s acquisition of water rights and operation, maintenance and replacement of Windy Gap Project features, as well as carriage charges to Northern Water and U.S. Bureau of Reclamation (Reclamation) for using the C-BT Project for storing and delivering Windy Gap water.
A benefit to Subdistrict allottees is that allotment contract holders are granted total consumptive use of their Windy Gap water. Allottees can use and reuse Windy Gap water because it is imported water not native to the South Platte Basin. After first use within Subdistrict boundaries, participants may lease, transfer or sell the reuse or successive use rights for use within or outside Subdistrict boundaries.
Carriage Contract
The Subdistrict has a Carriage Contract with Reclamation and Northern Water specifying how Windy Gap water will be stored and carried to the East Slope through the C-BT Project using the unused capacity of the existing C-BT Project’s storage and conveyance facilities. Windy Gap’s largest annual operating expense is carriage charges, which is over 65 percent of the operating budget or $2.6 million.
In-lieu Deliveries
In abnormally dry years, no water may be legally available because other water users in the Colorado River hold water rights similar in priority to Subdistrict’s water rights. In abnormally wet years, storage space may not be available in Lake Granby. Pursuant to the Carriage Contract, the Subdistrict’s Integrated Operations Criterion, C-BT system water may be delivered by the Subdistrict in-lieu of Subdistrict water during times when water would not otherwise be available. In-lieu deliveries are subject to requirements, including replacement water to assure C-BT system beneficiaries are not injured as the result of in-lieu deliveries. The in-lieu service charge is $5.70 per acre-foot.
Longmont Mayor Ralph Price files for water rights
How the Windy Gap project came to be
WINDY GAP TIMELINE
Six CitiesCommittee formally created
MunicipalSubdistrict formed
Reclamation approves project and ground breaking ceremony
Windy Gap Projectdedicated and water deliveriesbegin
Establishment of the Windy Gap Firming ProjectWater Enterprise
Windy Gap Firming Project receives finalfederal permit
JULY 17 FEBRUARY 24 JULY 6 APRIL/NOVEMBER JUNE 29 NOVEMBER May 1967 1969 1970 1981 1985 1999 2017
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictGeneral
4
Six Cities
Formal efforts to develop and construct the Windy Gap Project began in the summer of 1967 when Longmont Mayor Ralph Price filed for water rights on the Colorado River near Granby. Price was acting as trustee for a coalition of six Northern Colorado cities: Boulder, Estes Park, Fort Collins, Greeley, Longmont and Loveland.
A Geologic Cut Called Windy Gap
The Windy Gap Project they jointly pursued is located on the West Slope near a natural geologic cut called Windy Gap, just below the confluence of the Colorado and Fraser rivers. The cities envisioned Windy Gap as a water source to meet the future needs of the rapidly growing Northern Front Range.
After studying growth rates and water supply demand projections, the six cities chose to pursue the Windy Gap Project to meet their future municipal needs.
Municipal Subdistrict Formed
In 1969, the participants realized that the work and expertise needed to build the Windy Gap Project required a stronger organization than they could provide independently. The Subdistrict was formally established on July 6, 1970, with the same powers and legal standing as the parent Northern Water.
Following completion and approval of an Environmental Impact Statement and acquisition of 23 permits and licenses, Windy Gap Project construction began in July 1981. The Windy Gap Project was completed in 1985 and began delivering water to Subdistrict allottees in July.
Today, the Windy Gap Project consists of a diversion dam on the Colorado River that creates the 445 acre-foot Windy Gap Reservoir, a pumping plant and a six mile pipeline to Lake Granby.
Windy Gap Project Mitigation
The Subdistrict is required by the Water Conservancy Act to design, construct and operate the Windy Gap Project in a manner that will not impair the Colorado River Basin or increase costs to its water users. To satisfy this requirement, the Subdistrict provided mitigation measures and additional benefits to the West Slope. These included:
• $10.2 million payment to the Colorado River Water Conservation District used as seed money to construct Wolford Mountain Reservoir• $550,000 to the U.S. Fish and Wildlife Service for endangered fish species studies• $500,000 to upgrade and provide new pumps for rancher diversions downstream• $420,000 to Hot Sulphur Springs for upgrading water and wastewater treatment facilities
Windy Gap Firming Project
The Windy Gap Firming Project is being implemented to provide more reliable Windy Gap water deliveries. The Windy Gap Firming Project would include a 90,000 acre-foot reservoir at Chimney Hollow in the foothills west of Carter Lake. Not all of the owners of the Windy Gap Project are participating in the Windy Gap Firming Project. The City of Boulder and the Town of Estes Park own Subdistrict water units but are not participating in the Windy Gap Firming Project because they have other storage for Subdistrict water or other water supplies that currently meet their needs. The final federal permit needed to construct the Chimney Hollow Reservoir was signed on May 17, 2017.
Windy Gap Pump Plant construction in the early 1980’s. Snow covers a section of Windy Gap’s pipeline, which was trucked over the Continental Divide in sections.
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictHistory
5
Participants Water Units Percentage
Platte River Power Authority 134 30.6%
Longmont 80 16.7
Broomfield 56 11.7
Greeley 52 10.8
Loveland 40 8.3
Boulder 37 7.7
Erie 20 4.2
Little Thompson Water District 17 3.5
Superior Metro District No. 1 15 3.1
Fort Lupton 13 0.6
Louisville 6 1.3
Lafayette 3 0.6
Estes Park 3 0.6
Berthoud 3 0.6
Central Weld County Water District 1 0.2
Windy Gap Participants
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictService Area and Windy Gap Project Participants
Rawhide Power Plant(Platte River Power Authority)
Fort Collins
Greeley
Longmont
Fort Lupton
Denver
BoulderWindy Gap
Broomfield
Loveland
Central Weld CountyWater District
Left HandWater District
Estes Park
Erie
Superior Metropolitan District No. 1
Subdistrict Service AreaC-BT Project Facilities
LouisvilleLafayette
South Platte River
Little ThompsonWater District
Berthoud
6
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictDistinguished Budget Presentation Award
7
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictCommunity Profile of the Eight Largest Windy Gap Participants
Eight Largest Windy Gap Project Participants
City of Boulder
Established 1871Estimated Population for 2017 109,000Unemployment rate 2.5%Per Capita Income $63,707Land Area (square miles) 26Most Populous City in Colorado 11th
City of Longmont
Established 1871Estimated Population for 2017 94,777Unemployment Rate 2.6%Per Capita Income $63,707Land Area (square miles) 22Most Populous City in Colorado 14th
0
200,000
400,000
600,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Population TrendsSix Largest Windy Gap Project Participants
Municipalities
City of Boulder Broomfield, City and County of
City of Greeley City of Longmont
City of Loveland Town of Erie
Source - Colorado Department of Local Affairs, State Demography Office, County website, Bureau of Labor Statistics, US Census - extrapolated from 2018 by US Census, County CAFR’s.
The Subdistrict has experienced a moderately growing population and service area in the past ten years.
8
City and County of Broomfield
Established 2001Estimated Population for 2017 68,552Unemployment Rate 2.5%Per Capita Income $73,129Land Area (square miles) 33.6Most Populous City in Colorado 16th
City of Greeley
Established 1870Estimated Population for 2017 104,557Unemployment Rate 2.8%Per Capita Income $50,483Land Area (square miles) 30Most Populous City in Colorado 13th
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictCommunity Profile of Windy Gap Participants
Eight Largest Windy Gap Project Participants (continued)
0.0%2.0%4.0%6.0%8.0%
10.0%12.0%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Unemployment RateSix Largest Windy Gap Project Participants
Municipalities
City of Boulder Broomfield, City and County of
City of Greeley City of Longmont
City of Loveland Town of Erie
Colorado
Source - Colorado Department of Local Affairs, State Demography Office, County website, Bureau of Labor Statistics, US Census - extrapolated from 2018 by US Census, County CAFR’s.
The Subdistrict’s service area is expected to remain strong as the Northern Colorado economy continues to experience solid job growth.
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Municipal Subdistrict, Northern Colorado Water Conservancy DistrictCommunity Profile of Windy Gap Participants
Eight Largest Windy Gap Project Participants (continued)
City of Loveland
Established 1881Estimated Population for 2017 75,655Unemployment Rate 2.5%Per Capita Income $47,117Land Area (square miles) 35.5Most Populous City in Colorado 15th
Town of Erie
Established 1874Estimated Population for 2017 26,250Unemployment rate 2.6%Per Capita Income $63,707Land Area (square miles) 19.8Most Populous City in Colorado 34th
$-
$20,000
$40,000
$60,000
$80,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Per Capita IncomeSix Largest Windy Gap Participants
Municipalities
City of Boulder Broomfield, City and County of
City of Greeley City of Longmont
City of Loveland Town of Erie
Source - Colorado Department of Local Affairs, State Demography Office, County website, Bureau of Labor Statistics, US Census - extrapolated from 2018 by US Census, County CAFR’s.
The income growth of the six largest municipal participants continues to be solid.
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Municipal Subdistrict, Northern Colorado Water Conservancy DistrictCommunity Profile of Windy Gap Participants
Source - Municipalities’ websites and most recent CAFR’s and Budget Reports
Platte River Power Authority
Established 1975
Colorado political subdivision established to provide wholesale generation and transmission to municipal utilities of its owner communities - Estes Park, Fort Collins, Longmont and Loveland.
Little Thompson Water District
Established 1960
Colorado special district established to provide high-quality drinking water to rural residents in a 300-square mile service area in Larimer, Weld and Boulder counties.
Eight Largest Windy Gap Project Participants (continued)
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Municipal Subdistrict, Northern Colorado Water Conservancy DistrictLargest Employers
Largest Employers by County: 2018 - 2019 (Private Non-Retail)
Rank
123456789
10
Employer
UC Health: Poudre Valley HospitalBroadcom, Inc.Woodward, Inc.Banner Health: McKee Medical CenterHewlett PackardQualfonHach CompanyAnheuser-Busch Fort Collins BreweryTolmar, Inc.Otter Products Sum of largest employers Full labor force 2018
Employment
7,890 1,600 1,500 1,390 1,130 870 840 760 650 560 17,190 204,795
Larimer County
Rank
12
3456789
10
Employer
JBS USABanner Health: North Colorado Medical Center (NCMC)VestasState Farm Insurance CompaniesHalliburton Energy Services, Inc.TTEC (formerly Tele Tech)Anadarko PetroleumNoble EnergyLeprino FoodsSTARTEK, Inc. Sum of largest employers Full labor force 2018
Employment
4,590
3,560 2,270 1,200 1,030 620 520 500 480 470 15,240 164,680
Weld County
Boulder County Broomfield City and County
Rank
1234567
89
10
Employer
Medtronic PLCBoulder Community HealthIBM CorporationBall Aerospace & Technologies Corp.Good Samaritan Medical CenterSeagate TechnologyLongmont United & Avista Adventist HospitalsGoogleSierra Nevada CorporationKaiser Permanente Sum of largest employers Full labor force 2018
Employment
2,460 2,410 1,690 1,510 1,430 1,420
1,360 800 750 750 14,580 191,551
Rank
12345678
910
Employer
CenturyLinkOracleSCL Health Revenue Service CenterHunter Douglas Window FashionsVail ResortsTSYSDanone North AmericaBroadcom, Inc. (formerly Brocade Communications)VMwareBall Corporation Sum of largest employers Full labor force 2018
Employment
2,360 2,000 1,200 980 740 580 570
500 470 420 9,820 39,524
Source of largest employers: Development Research Partners/Metro Denver EDC/Revised May 2018Source of full labor force data: Colorado Department of Labor and Employment, Labor Market Information
Largest Employers Combined: Boulder, Broomfield, Larimer & Weld 2018 - 2019 (Private Non-Retail)
Top Ten Employers - Combined
Employment
7,890 4,590 3,560 2,460 2,410 2,360 2,270 2,000 1,690 1,600 30,830 600,550
County
Larimer Weld Weld Boulder Boulder Broomfield Weld Broomfield Boulder Larimer
Employer
UCHealth: Poudre Valley HospitalJBS USABanner Health: NCMCMedtronic PLCBoulder Community HealthCenturyLinkVestasOracleIBM CorporationBroadcom, Inc. Sum of largest employers Full labor force 2018
Rank
123456789
10
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Municipal Subdistrict, Northern Colorado Water Conservancy DistrictPopulation and Jobs Trends
Larimer County
Year
20102015202020252030
Total Jobs
165,485 185,436 208,071 230,158 247,478
Population
300,543 326,803 356,900 388,866 418,814
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2015 2020 2025 2030
Larimer CountyForecast Change in Population & Jobs 2015 - 2030
Source: State of Colorado Demography Office
Job Change Population Change
Weld County
Year
20102015202020252030
Total Jobs
104,463 132,084 155,574 174,333 192,823
Population
254,240 286,575 340,265 401,865 466,716
Denver Metro Including Boulder and Broomfield Counties
Year
20102015202020252030
Total Jobs
1,641,311 1,886,272 2,123,138 2,302,714 2,423,855
Population
2,797,873 3,053,801 3,306,177 3,540,403 3,758,347
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
2015 2020 2025 2030
Weld CountyForecast Change in Population & Jobs 2015 - 2030
Source: State of Colorado Demography Office
Job Change Population Change
0
50,000
100,000
150,000
200,000
250,000
300,000
2015 2020 2025 2030
Denver Metro Including Boulder and Broomfield CountiesForecast Change in Population & Jobs 2015 - 2030
Source: State of Colorado Demography Office
Job Change Population Change
13
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictBoard of Directors
The 12-member Board is responsible for establishing policy and strategic direction. Directors from the eight counties within Northern Water boundaries are appointed to 4-year terms by District Court judges. Three Board seats are up for appointment every year. When a Director’s term expires, he or she continues to serve until the judge reappoints or replaces him or her. Subdistrict’s Board Officers are elected by the Board at its annual organizational meeting each October. The Board holds its public meetings twice a month. Directors are paid $100 per meeting to a maximum of $2,400 per year.
Past Presidents
William D. Farr Ray Joyce Les Williams
1970 - 1995 25 years1995 - 2000 5 years2000 - 2013 13 years
Dennis YanchunasPresidentBoulder CountyAugust 20, 2010 - Sept. 28, 2020
Bill FischerLarimer CountySept. 28, 2016 - Sept. 28, 2020
Mike ApplegateLarimer CountySept. 28, 1991 - Sept. 28, 2019
Bill EmslieVice PresidentLarimer CountySept. 28, 2005 - Sept. 28, 2021
Rob McClarySedgwick CountySept. 28, 2011 - Sept. 28, 2019
John RuschMorgan and Washington CountiesMay 10, 2002 - Sept. 28, 2021
Dale TrowbridgeWeld CountyAugust 15, 2014 - Sept. 28, 2019
Todd WilliamsBoulder CountySept. 28, 2017 - Sept. 28, 2021
Brad StrombergerLogan CountySept. 28, 2010 - Sept. 28, 2018
Don MagnusonWeld CountySept. 28, 2004 - Sept. 28, 2020
Sue Ellen HarrisonBoulder CountySept. 28, 2009 - Sept. 28, 2018
Kenton BrunnerWeld CountyMarch 14, 1994 - Sept. 28, 2018
Current Board of Directors
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Municipal Subdistrict, Northern Colorado Water Conservancy DistrictBudget Process
The budget process provides an opportunity to align short-term objectives and actions at the program level to the Subdistrict’s long-term mission and values. The Board, General Manager and staff participate in the development of the budget.
The proposed budget for the upcoming year is presented to the Board for consideration and adoption in August of each year in order to align it with the adoption of water assessments which are also approved. The Board, at its regular meeting of May 10, 2018, appointed Bradley D. Wind, Jerry Gibbens, Karen Rademacher, Mary Krakow and John Budde as Budget Officers and directed them to prepare and submit the requisite budgets of the Subdistrict for fiscal year 2019. A notice is published, as required by law, in all the counties located wholly or partly within the Subdistrict boundaries stating the annual budget is available for inspection by the public, including the date and time for public hearing. This year’s budget review process included a workshop with the participants on July 10 and a Board workshop on July 20.
The 2019 budget was prepared utilizing the accrual method of accounting. This is the same basis of accounting used for the Subdistrict’s audited financial statements.
Budget ScheduleTask Jan Feb Mar Apr May June July Aug Sept
Formulate key goals and objectives
Identify major budget assumption
Budget instructions issued to all department managers
Review and final recommendations of budget by senior managers
Appointment of budget officers and prepare budget reports
Deliver budget to the Board
Hold public hearing and adopt budget by the Board
File budget with the state
Amending the Budget
Senior Management is authorized to add or revise budget amounts between operating expenses and projects. Any revisions that exceed the total appropriation for the fund, must be approved by the Subdistrict Board. All contracts over $35,000, whether budgeted or unbudgeted, must be authorized by the Subdistrict Board. Purchase of capital assets over $35,000, whether budgeted or unbudgeted must be authorized by the General Manager.
First Subdistrict Budget Resolution adopted in 1970
WHEREAS, the Municipal Subdistrict, Northern Colorado Water Conservancy District, was created on July 6, 1970, in the District Court Sitting in and for Weld County and is a political subdivision of the State of Colorado and a body corporate with all the powers of a public or municipal corporation; and
WHEREAS, E. F. Phipps, Secretary of Municipal Subdistrict,
Northern Colorado Water Conservancy District, and J. c. Nelson, Treasurer of said Subdistrict, were appointed by the Board of Directors to prepare the Budget for the fiscal year commencing November 1, 1970, and have submitted the same to the said Board and caused to be published the requisite Notice of Hearing.
NOW, THEREFORE, BE IT RESOLVED, that the Board of
Directors of the Municipal Subdistrict, Northern Colorado Water Conservancy District, hereby approves and adopts the Budget as submitted by the duly appointed Budget Officers and appropriates the aggregate sum of $33,925.00 for the purpose of paying the cost of all con-tractual obligations; meeting the expenses required to conserve,allocate, and control the water supplies of the Subdistrict includingthe expense of design, construction, administration, operation and maintenance of all works, facilities, properties, and functions necessary for the distribution and beneficial utilization of those water supplies; and the expenses for the transaction of all such other business functions and activities found by said Board to be necessary and convenient; and
BE IT FURTHER RESOLVED, that any revenue in excess of the sums appropriated_in this or any further appropriations for unforeseen contingencies shall be transferred to and deposited in the reserve account of said Subdistrict; and
BE IT FURTHER RESOLVED, that the funds r quired for the sums
so appropriated shall be provided in the manner and by the means adopted by the Board of Directors, Municipal Subdistrict, Northern Colorado Water Conservancy District.
The motion was seconded by Director Nix and upon being put to vote was unanimously adopted.
The Treasurer presented the Financial Statement for the month of August and explained that the budget officers had now been bonded; that funds had been deposited to the Subdistrict account in Westlake National Bank as shown on the Financial Statement; and that payment of the bills shown on the state- ment could now be made. Thereupon, Director Moffitt moved that the bills be allowed and checks and vouchers be drawn in payment thereof. The motion was seconded by Director Moore and upon being put to vote unanimously carried.
The bills approved for payment will be found in the financial records of
the Subdistrict on the Financial Statement dated August 31, 1970.
There being no further business to come before the Board, Director Moffitt moved adjournment to October 9, 1970.
Secretary
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Municipal Subdistrict, Northern Colorado Water Conservancy DistrictFiscal Policies
Balanced Budget
The Subdistrict has not adopted a fiscal policy on a balanced budget. Subdistrict considers the budget to be balanced when the sources of funds equals the uses of funds. On occasion, the planned use of reserves, along with budgeted operating revenues are equal to or greater than budgeted expenditures.
Reserves
The Windy Gap Water Activity Enterprise Fund (Windy Gap) accumulates reserves sufficient to pay operation, maintenance, pumping energy, capital additions and working capital. These reserves may be drawn upon if unusual or unplanned events occur, or they may not be used at all. In the future, the Board will be reviewing and updating the types and amounts of the reserves.
The Windy Gap Fund practice is to maintain reserves that are sufficient to provide:
• 150 percent of expected operation and maintenance expenses• 100 percent of the energy costs to pump 35,000 acre-feet of water• Minimum of 360 unrestricted days cash on hand
Revenues
The Windy Gap Fund is fully funded through assessments for wholesale water provided by the Windy Gap Project.
Expenditures
The Subdistrict continues to find new ways to operate more efficiently while setting high standards in maintaining its facilities.
Risk Management
The Subdistrict is exposed to various risks of loss related to torts, (Colorado Governmental Immunity Act limits general liability to $387,000 per person and $1,093,000 per occurrence) theft of, damage to and destruction of assets; errors and omissions; and natural disasters. The Subdistrict carries commercial insurance for these risks. Settled claims resulting from these risks did not exceed commercial insurance coverage in any of the past three years.
Investments
The Board established an Investment Policy Statement (IPS) for funds not used to meet current liquidity requirements. The purpose of the IPS is to establish the investment restriction standards, investment objectives, delegation of authority, prudence, ethics and conflicts of interest, authorized securities and transactions, portfolio maturities and liquidity, safekeeping and custody, portfolio performance and reporting. The investment objectives in order of priority are safety, liquidity, return and diversification.
Capital Policy
Assets that have a service life of more than one year and have an initial cost of $5,000 or more are capitalized. Assets not meeting this criteria are expensed. Depreciation is computed using the straight-line method over the estimated useful life.
Basis Acccounting
The Subdistrict financial statements are prepared using the accrual basis of accounting with the economic resources measurement focus as prescribed by the Governmental Accounting Standard Board (GASB). Under this approach, all assets, deferred outflow of resources, liabilities and deferred inflow of resources are reported in the Statement of Net Position. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.
Capital Contributions
Capital contributions consist of payments from participants for the funding of the Windy Gap Firming Project. Also, payments received for the Colorado River Connectivity Channel (Connectivity Channel) are accounted for as contributions. In the Statement of Revenues, Expenses and Changes in Net Position, capital contributions are recognized after nonoperating revenues (expenses).
16
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictSubdistrict Organizational Chart
General Public of the Subdistrict
Service Area
Legal CounselWindy Gap and Windy Gap Firming Project ParticipantsCommittee
The Subdistrict has no full-timeemployees. All administrative, engineering and operations and maintenance functions are provided through an agreement with Northern Water. The Subdistrictreimburses Northern Water for thecosts of providing these services.
Board Committees• Audit• Finance and Bene�ts• Legal and Legislative
12-MemberBoard of Directors
17
The Subdistrict is comprised of three enterprise funds that use activities of the organization to track financial performance and budgetary oversight of its business-like operations. The two major enterprise funds, Windy Gap Water Activity and Windy Gap Firming Project Water Activity, account for the wholesale water operations of the Subdistrict. The other fund, Municipal Subdistrict District Fund, is the owner of the two water activity enterprise funds. For financial reporting purposes, the Municipal Subdistrict District Fund is included in the Windy Gap Water Activity Enterprise Fund statements. The two water activity enterprise funds are legally distinct and financially independent funds. Both have been established in accordance with Colorado Statutes, as “enterprises” and are excluded from the application of Article X, Section 20, of the Colorado Constitution.
Windy Gap Water Activity Enterprise Fund Overview
Windy Gap is self-supporting through water assessments. The purpose of Windy Gap is to account for the wholesale water activities of the Windy Gap Project which provides water supplies to northern Colorado municipalities, rural domestic suppliers and industry. The Windy Gap Project consists of a diversion dam on the Colorado River, a pump station and a pipeline to pump and transport diverted Windy Gap Project water to the C-BT Project for storage and distribution to the fifteen participants. Construction of the $81.7 million Windy Gap Project commenced in July 1981 with operation commencing in July 1985. The fiscal year 2019 operating and capital budget totals $6,422,724. This represents a decrease of $22,008 or .36 percent from the fiscal year 2018 budget. The decrease is primarily due to reduced costs related to the Connectivity Channel. Total revenues of $5,890,745 represents a decrease of $529,630 from the 2018 budget. The decrease was related to lower contributions for the Connectivity Channel. The budget includes a contingency appropriation of $250,000 that can be used with Senior Management authorization for the expenditures that could not be forseen at the time the budget was prepared.
Beginning Cash and Reserves
$21,328,641
Sources ofFunds
$5,890,745
Uses ofFunds
$6,422,724
Ending Cash andReserves
$20,796,662
Fiscal Year 2019 Budget
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictBudget Appropriations
Fiscal Year 2019Total Funds
$129,069,557
Municipal SubdistrictDistrict Fund
$100,050
Windy Gap Water ActivityEnterprise Fund
$6,422,724
Windy Gap Firming ProjectWater Activity Enterprise Fund
$122,546,783
Budget Appropriations by Fund
5%
94%
1%
Windy Gap Fund
Windy Gap Firming Fund
Municipal Subdistrict District Fund
18
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Comparison of Sources and Uses by Fiscal Year
Beginning Cash and Reserves Unrestricted
Total
SOURCES OF FUNDS Revenue Sources Operating Revenues Water Assessments Total operating revenues
Other Revenues Earnings on Investments Other Nonoperating Revenue Total other revenues
Contributions Connectivity Channel Total contributions
Total Sources Funds to Reserves Total Funds Available
USES OF FUNDS Operating Expenses Carriage Delivery Pumping Energy & Wheeling Pump Station & Pipeline Reservoir and Dam Programs Total Operating Expenses
Capital Projects Total Projects
Total Expenditures
Contingency Appropriation
Total Uses
Ending Cash and Reserves Unrestricted Total
Total funds accounted for
Fiscal Year2017 Actual
$ 20,910,645
20,910,645
2,959,905 2,959,905
129,556 43,820 173,376
30,000 30,000
3,163,281 ( 27,175 ) $ 24,046,751
1,238,595
479,885 5,931 889,619 2,614,030
383,231 383,231
2,997,261
2,997,261
21,049,490 21,049,490
$ 24,046,751
Fiscal Year2018 Budget
$ 21,866,047
21,866,047
5,152,525 5,152,525
116,550 57,000 173,550
1,094,300 1,094,300
6,420,375
$ 28,286,422
2,584,525 840,000 513,528 11,855 1,086,144 5,036,052
1,158,680 1,158,680
6,194,732
250,000
6,444,732
21,841,690 21,841,690
$ 28,286,422
Fiscal Year2018 Estimated
Actual
$ 21,049,490 21,049,490
3,572,525 3,572,525
152,000 58,000 210,000
340,000 340,000
4,122,525
$ 25,172,015
1,684,525 160,000 515,921 11,855 1,066,693 3,438,994
404,380 404,380
3,843,374
3,843,374
21,328,641 21,328,641
$ 25,172,015
Fiscal Year2019 Budget
$ 21,328,641
21,328,641
5,152,525 5,152,525
172,120 26,100 198,220
540,000 540,000
5,890,745
$ 27,219,386
2,584,525 840,000 561,227 14,564 1,264,083 5,264,399
908,325 908,325
6,172,724
250,000
6,422,724
20,796,662 20,796,662
$ 27,219,386
PercentageChange from
Fiscal Year2018 Budget
47.68% ( 54.21% ) 14.21%
( 50.65% ) ( 50.65% )
( 8.25% )
9.29% 22.85% 16.38% 4.53%
( 21.61% ) ( 21.61% )
( .36% )
( .36% )
Dollar ChangeFrom
Fiscal Year2018 Budget
$
55,570 ( 30,900 ) 24,670
( 554,300 ) ( 554,300 )
( 529,630 )
47,699 2,709 177,939 228,347
( 250,355 ) ( 250,355 )
( 22,008 )
( $ 22,008 )
19
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Revenues
Total revenues are expected to be $5,890,745 which is a decrease of $529,630 or 8.25 percent from the prior year budget. Revenue from wholesale water assessments are estimated to be the same as the fiscal year 2018 budget. Water assessments are estimated on deliveries of 25,000 acre-feet in fiscal year 2019. Pumping energy and wheeling charges associated with pumping at the Windy Gap Pump Plant are projected to be $28.00 per acre-foot on 30,000 acre-feet. For fiscal year 2019, the charge for the assessment deferral will be $36 per acre-foot of ownership in the Windy Gap Project. Other projected revenues for fiscal year 2019 include contributions for the Connectivity Channel of $540,000, interest earnings of $172,120 and other income of $26,100. With no outstanding debt, no charges for debt service are included in water assessments beginning in 2017.
A summary of total revenues is provided in the chart below:
$5,152,525
$540,000
$172,120 $26,100
Water Assessments
Windy Gap Connectivity Channel
Earnings on Investments
Other Nonoperating Revenue
Water Assessments
The three revenue components of the annual water assessments are provided in the charts below:
Water AssessmentsConnectivity Channel ContributionsEarnings on InvestmentsOther Nonoperating Revenues
Total revenues
Budget
$ 5,152,525
540,000 172,120
26,100
$ 5,890,745
Percent ofTotal Sources
of Funds
87%
9 3
1
100%
50%
34%
16%
Carriage Delivery
Assessment Deferral
Pumping Energy and Wheeling
Carriage DeliveryAssessment DeferralPumping Energy and Wheeling
Total water assessments
Budget
$ 2,584,525 1,728,000
840,000
$ 5,152,525
Percent ofTotal Water
Assessments
50% 34
16
100%
$-
$2
$4
$6
$8
$10
$12
$14
$16
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Mill
ions
Windy GapAnnual Assessments Revenues
Actual Estimate Budget
13,046 AF
No Debt Service Charges
20
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Revenues
Carriage Delivery Assessment
Water delivery assessment is the charge to use the C-BT Project storage system and conveyance to transport Windy Gap Project water from the West Slope of Colorado across the Continental Divide to the East Slope. For fiscal year 2019, the charge is projected to be $100 per acre-foot (same as fiscal year 2018) of water delivered. In addition, the fixed carriage charge is $176.09 per ownership unit of Windy Gap Project water. The water delivery assessment is calculated on the costs of providing the service and on total water carried through the C-BT Project Adams Tunnel. When less water is carried through the tunnel, Windy Gap Project water becomes a larger percent of the total, resulting in higher water delivery cost. In 2015, the water carried through the Adams Tunnel was 113,856 acre-feet, the lowest since the Windy Gap Project began delivering water. This was the driver of higher delivery assessments. A summary of carriage delivery charges is provided in the table and charts below:
$-
$50
$100
$150
$200
2010 2011 2012 2013 2014 2015 2016 2017
Windy GapCarriage Delivery per Acre-Foot
Carriage Costs per Acre-Foot
Assessment Deferral
The assessment deferral is used to support all program costs and to maintain and operate the pump station, reservoir and dam, and stream gauging stations. For fiscal year 2019, the charge is $3,600 per ownership unit of Windy Gap Project water, no change since fiscal year 2014. This assessment is due whether or not the participant takes delivery of water. A summary of assessment deferral charges is provided in the table and chart below:
Fiscal Year 2019
Assessment Deferral
Per unit
$ 3,600
Per Acre-foot
$ 36
Total
$ 1,728,000
$2,700
$2,800
$2,900
$3,000
$3,100
$3,200
$3,300
$3,400
$3,500
$3,600
$3,700
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
No Increase
Windy Gap per Unit Assessment
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
0
5,000
10,000
15,000
20,000
25,000
2009 2010 2011 2012 2013 2014 2015 2016 2017
Water through Adams Tunnel LowestSince Operating Windy Gap
Windy Gap and Adams Tunnel Deliveriesper Acre-Foot
Windy Gap Water Delivered Adams Tunnel
Fiscal Year 2019
Carriage DeliveryFixed Annual Carriage
Acre-Feet
25,000
Charge PerAcre-FootPer Unit
$ 100.00 176.09
Total
$ 2,500,000 84,525 $ 2,584,525
Beginning in fiscal year 2020, an additional charge of $34 per acre-foot (1.79% annual increase) will be assessed to the carriage delivery fee per the carriage contract signed in 2014. Also, the fixed annual carriage charge will no longer be assessed beginning in fiscal year 2020.
21
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund (continued)
Revenues
Pumping Energy/Wheeling
Energy and wheeling assessement is for pumping Windy Gap Project water from the Windy Gap Reservoir on the Colorado River through a six-mile pipeline to Lake Granby. For fiscal year 2019, the charge is projected to be $28.00 per acre-foot of water delivered. Energy costs are calculated based on a tiered pricing structure with three pricing tiers. Tier 3 is the most expensive tier and starts when water pumped is in excess of approximately 32,000 acre-feet. Water was pumped in 2018, the first time since 2013, as water storage space was available in Lake Granby. During the times when Windy Gap water is not available, C-BT system water is delivered by the Subdistrict in-lieu of Subdistrict water. The in-lieu water deliveries must provide replacement water or can be met by certain C-BT system spill conditions. Also, Windy Gap Project water was spilled in 2011 and 2014 to make space for C-BT system water. A summary of pumping energy/wheeling charges and tiered pricing structure is provided in the tables and charts below:
Windy Gap Pump Plant
Fiscal Year 2019
Pumping Energy/ Wheeling
Acre-Feet
30,000
Charge PerAcre-FootPer Unit
$ 28.00
Total
$ 840,000
$-
$10
$20
$30
$40
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Energy Cost per Acre-Foot
0
10,000
20,000
30,000
40,000
50,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Windy GapWater Pumped per Acre-Foot
Tier
1 Energy Price2 Energy Price3 Energy Price
Rate ($/kWH)
0.03047 0.04624 0.08406
22
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses
The fiscal year 2019 Windy Gap budgeted expenses are $6,422,724. The fiscal year 2019 budget represents a decrease of $22,008 or .36 percent from the fiscal year 2018 budget of $6,444,732. Operating and maintenance expenditures total $4,000,316, a $50,408 increase from the 2018 budget. Program expenses are projected to be $1,264,083, increasing $177,939. Capital additions total $908,325, a decrease of $250,355. The contingency of $250,000 is unchanged from the 2018 budget. Material and services expenses are projected to increase by $348,244 or 17 percent primarily related to increased costs in water quality. The Subdistrict has no full-time staff and all personnel services are provided by Northern Water. The Subdistrict reimburses Northern Water for the actual time incurred doing Windy Gap activities. Labor reimbursement costs are estimated to increase by $184,048 or 27.6 percent compared to fiscal year 2018. The increase related primarily to engineering resources for the Connectivity Channel project.
A summary of the total expenditures is provided in the chart below:
Operating and Maintenance-$3,949,908
Programs-$1,086,144
Capital Expenditures-$1,158,680
Contingency-$250,000
Carriage DeliveryMaterials and ServicesPumping Energy and WheelingLaborContingency
Total Major Expenses
40%
33%
13%
10%
4%
Carriage Delivery
Materials and Services
Pumping Energy and Wheeling
Labor
Contingency
Percent ofTotal Usesof Funds
40% 30 13 7 4
100%
Fiscal Year2019 Budget
$ 2,584,525 1,898,433 840,000 849,766 250,000
$ 6,422,724
A summary of total expenditures by major expense categories is provided in the charts below:
0
2,000
4,000
6,000
8,000
10,000
12,000
2014 Actual 2015 Actual 2016 Actual 2017 Actual 2018 Projection 2019 Budget
Signed Final ROD (Final Permit) May 2017
Windy Gap EnterpriseLabor Hours Trend
Windy Gap Enterprise Windy Gap Firming Enterprise
Connectivity Channel
$540 $560 $580 $600 $620 $640 $660 $680 $700 $720 $740
2014 2015 2016 2017
Thou
sand
s
Windy Gap EnterpriseActual Labor Costs
2014 2015 2016 2017
A summary of labor costs and hours is provided in the charts below:
23
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Operating and Maintenance
Business Plan Priority - collect and deliver water
Carriage expenses for the use of the C-BT conveyance and storage system to deliver Windy Gap water are expected to be the same compared to fiscal year 2019 budget.
Carriage delivery and pumping energy and wheeling are operating expenses driven by volume of water pumped and delivered. Energy and wheeling costs for pumping 30,000 acre-feet of water are projected to be $840,000, no change from 2018 budget. Costs to maintain the pump plant and pipeline are expected to increase $47,699 mainly due to planned scada upgrades.
A summary of the operating and maintenance expenses (62.3 percent of the total uses of funds) is provided in the table and chart below:
Carriage DeliveryPumping Energy and WheelingPump Station and PipelineReservoir and Dam
Total operating and maintenance expenses
Budget
$ 2,584,525 840,000 561,227 14,564
$ 4,000,316
$0
$1
$2
$3
$4
2011 2012 2013 2014 2015 2016 2017
Mill
ions
Windy Gap EnterpriseActual Operating and Maintenance
Actual Operating and Maintenance
A summary of carriage delivery costs and pumping energy and wheeling costs is provided in the charts below:
$-
$0.5
$1.0
$1.5
$2.0
$2.5
2009 2010 2011 2012 2013 2014 2015 2016 2017
Mill
ions
Windy Gap EnterpriseCarriage Delivery Costs
Pumping Energy and Wheeling Costs
Carriage Delivery Costs Pumping Energy and Wheeling Costs
$-
$500
$1,000
$1,500
$2,000
2009 2010 2011 2012 2013 2014 2015 2016 2017
Thou
sand
s
Windy Gap EnterpriseCarriage Delivery Costs by Entity
Reclamation Northern Water
A summary of pump station, pipeline and reservoir and dams expenses is provided in the charts below:
$0
$5,000
$10,000
$15,000
$20,000
$25,000
2014Actual
2015Actual
2016Actual
2017Actual
2018Estimate
2019Budget
Windy Gap EnterpriseReservoir and Dam Expenses
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
2014Actual
2015Actual
2016Actual
2017Actual
2018Estimate
2019Budget
Windy Gap EnterprisePump Station and Pipeline Expenses
24
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses
Programs
Programs expenses (19.7 percent of the total uses of funds) include primarily outside services and labor. Five additional tables are provided to show detail for Senior Management, Information Technology, Financial Services, Water Quality and Water Resources programs expense.
A summary of programs expenses is provided in the chart and table below:
Senior ManagementWater Quality Financial ServicesCommunicationsWater ResourcesInformation TechnologyContracts Allotments and InclusionsWater Records and AccountingForest HealthField ServicesWater ConservationReal EstateGeneral EngineeringEmergency and SecurityProject ManagementFacilities
Total Program expenses
Budget
$ 487,764 315,683 129,884 78,898 63,992 59,922 56,573 15,893 8,018 5,278 5,000 4,157 1,457 425 139 31,000
$ 1,264,083
$ 885,608 378,475
$ 1,264,083
Expenses by Category
Non Labor Labor
Total
Percent ofTotal Program
Expenses
38.6% 25.0 10.3 6.2 5.1 4.7 4.5 1.3 0.6 0.4 0.4 0.3 0.1 0.0 0.0 2.5
100.0%
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
2014 Actual 2015 Actual 2016 Actual 2017 Actual 2018 Estimate 2019 Budget
Windy GapEight Largest Programs Expenses
Communications Financial Services Contracts Allotments and Inclusions
Facilities Information Technology Senior Management
Water Quality Water Resources Total for Programs
25
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses, Programs
Senior Management Program
Business Plan Priority - cultivate operational and organizational excellence and maintain and strengthen relationships
Senior Management program expenses are for general oversight of all Subdistrict activities including water rights, water planning, and policies, rules and procedures. In addition to legal, insurance and Board of Director expenses, costs related to participation in various regional and state-wide cooperative water programs including recovery and stream management and river basin studies are included in the Senior Management program. Also, other Senior Management expenses are charged to many individual projects and activities that are managed and budgeted by program managers.
A summary of Senior Management program expenses is provided in the table below:
Expenditures by Program and Category
Senior ManagementFiscal Year
2017 ActualFiscal Year
2018 Budget
Fiscal Year2018 Estimated
ActualFiscal Year
2019 Budget
DollarChange From
Fiscal Year2018 Budget
Percentage Change From
Fiscal Year2018 Budget
Expenditures:Program SummaryGeneral Programs $129,452 $396,868 $136,468 $112,153 -$284,715 -71.74%
Colorado River Wild and Scenic 39,854 75,194 76,194 43,097 -32,097 -42.69% Colorado River Stream Management Plan 7,676 13,216 9,216 21,403 8,187 61.95% Colorado River Front Range Council 14,730 10,732 10,732 21,106 10,374 96.66%Colorado Water Congress 2,481 17,775 17,775 13,000 -4,775 -26.86%Colorado River Fire Studies 19,697 17,573 17,573 12,612 -4,961 -28.23%Insurance 4,303 4,500 7,000 8,000 3,500 77.78%Legal Matters 121,765 135,418 100,418 98,599 -36,819 -27.19%Board of Directors 70,348 50,022 51,522 54,744 4,722 9.44%Travel and Training 3,086 6,068 6,068 3,000 -3,068 -50.56%
Total $413,393 $727,366 $432,966 $387,714 -$339,652 -46.70%
Summary by CategoryLabor $101,818 $87,266 $87,266 $86,314 -$952 -1.09%Non Labor 311,575 640,100 345,700 301,400 -338,700 -52.91%Total $413,393 $727,366 $432,966 $387,714 -$339,652 -46.70%
26
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses, Programs
Water Quality Program
Business Plan Priority - protect and conserve water supplies
Water Quality expenses are primarily for the Windy Gap portion of expenses incurred for baseline monitoring of streams and reservoirs and water quality studies including a NEPA study in 2019. Baseline monitoring program objectives are to monitor nutrients, metals, general chemistry, phytoplankton and zooplankton depending on the location. The program tracks long and short term water quality changes in receiving streams, upstream and downstream of where the C-BT Project and Project water is released.
A summary of Water Quality program expenses is provided in the table below:
Expenditures by Program and Category
Water QualityFiscal Year
2017 ActualFiscal Year
2018 Budget
Fiscal Year2018 Estimated
ActualFiscal Year
2019 Budget
DollarChange From
Fiscal Year2018 Budget
Percentage Change From
Fiscal Year2018 Budget
Expenditures:Program SummaryWater Quality Programs $43,814 $47,506 $47,506 $67,317 $19,811 41.70%Baseline Monitoring 88,910 82,212 82,212 129,676 47,464 57.73%Water Quality Studies 11,174 12,218 12,218 90,000 77,782 636.62%Watershed Groups 7,300 7,300 18,418 11,118 152.30%Regulations 5,544 3,310 3,310 --Travel and Training 397 2,500 2,500 6,962 4,462 178.48%
Total $149,840 $151,736 $151,736 $315,683 $163,947 108.05%
Summary by CategoryLabor $74,422 $45,236 $45,236 $81,440 $36,204 80.03%Non Labor 75,419 106,500 106,500 234,243 127,743 119.95%Total $149,840 $151,736 $151,736 $315,683 $163,947 108.05%
27
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses, Programs
Financial Services Program
Business Plan Priority - cultivate operational and organizational excellence
The Financial Services program provides financial services including fund accounting, preparation of the Comprehensive Annual Financial Report, cash disbursements, fixed asset reporting, cash management, accounts receivable and financial planning for the annual budget and ad hoc financial analyses for special projects. Expenses include costs for the annual independent audit and cash managment services as well as labor charges for services provided by Northern Water for accounting and budgeting services described herein.
A summary of Financial Services program expenses is provided in the table below:
Expenditures by Program and Category
Financial ServicesFiscal Year
2017 ActualFiscal Year
2018 Budget
Fiscal Year2018 Estimated
ActualFiscal Year
2019 Budget
DollarChange From
Fiscal Year2018 Budget
Percentage Change From
Fiscal Year2018 Budget
Expenditures:Program SummaryAccounting Services $60,938 $65,509 $65,359 $67,303 $1,794 2.74%Purchasing 176 188 188 -188 -100.00%
Treasury 19,136 25,891 25,490 26,946 1,055 4.07% Budget 34,328 18,927 18,927 35,635 16,708 88.28%
Total $114,578 $110,515 $109,964 $129,884 $19,369 17.53%
Summary by CategoryLabor $79,984 $72,145 $72,145 $89,565 $17,420 24.15%Non Labor 34,594 38,370 37,819 40,319 1,949 5.08%Total $114,578 $110,515 $109,964 $129,884 $19,369 17.53%
28
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses, Programs
Communications Program
Business Plan Priority - maintain and strengthen relationships
The Communications program provides internal and external communications and public outreach for the Municipal Subdistrict. Major functions and responsibilities include: facility tours and public speaking activities; coordinating, editing and writing all web, social media and printed materials; developing, coordinating and maintaining displays, maps and photos; and drafting Board and committee meeting minutes.
In fiscal year 2019, the Communications program plans to update the Windy Gap informational brochure including associated graphics and videos in support of its continued effort to expand outreach formats to tell the public about the Subdistrict through stories, activities and projects.
A summary of Communications program expenses is provided in the table below:
Expenditures by Program and Category
Communications Fiscal Year
2017 ActualFiscal Year
2018 Budget
Fiscal Year2018 Estimated
ActualFiscal Year
2019 Budget
DollarChange From
Fiscal Year2018 Budget
Percentage Change From
Fiscal Year2018 Budget
Expenditures:Program SummaryCommunications Programs $12,264 $26,783 $24,783 $73,254 $46,471 173.51%Communications Tours 7,434 5,000 5,000 5,644 644 12.88%
Total $19,698 $31,783 $29,783 $78,898 $47,115 148.24%
Summary by CategoryLabor $7,601 $9,283 $9,283 $50,398 $41,115 442.91%Non Labor 12,097 22,500 20,500 28,500 6,000 26.67%Total $19,698 $31,783 $29,783 $78,898 $47,115 148.24%
29
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses, Programs
Water Resources Program
Business Plan Priority - protect and conserve water supplies
The Water Resources program performs engineering activities that support the Subdistrict with specific water rights investigations, operations modeling, river basin modeling, water availability studies, water supply quantifications and stream flow forecasting. Water Resources expenses for streamflow forecasting include the cost of forecast software as well as charges for USGS flow gaging. Budgeted expense for climate change is for outside consultant engineering work.
A summary of Water Resources program expenses is provided in the table below:
Expenditures by Program and Category
Water ResourcesFiscal Year
2017 ActualFiscal Year
2018 Budget
Fiscal Year2018 Estimated
ActualFiscal Year
2019 Budget
DollarChange From
Fiscal Year2018 Budget
Percentage Change From
Fiscal Year2018 Budget
Expenditures:Program SummaryWater Resources General $2,500 $3,025 $3,025 $3,504 $479 15.83%Stream Flow Forecast 16,810 28,020 28,020 29,918 1,898 6.77%Climate Change 10,000 20,000 20,000 20,000 0 0.00%Riverware System Model 12,305 13,341 13,341 1,635 -11,706 -87.74%CBT Project Operations 1,286 1,748 1,748 2,649 901 51.54%Water Rights 3,774 5,412 5,412 860 -4,552 -84.11%Travel and Training 2,617 5,426 5,426 #DIV/0!
Total $49,291 $71,546 $71,546 $63,992 -$7,554 -10.56%
Summary by CategoryLabor $21,517 $22,218 $22,218 $14,664 -$7,554 -34.00%Non Labor 27,774 49,328 49,328 49,328 0.00%Total $49,291 $71,546 $71,546 $63,992 -$7,554 -10.56%
30
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses, Programs
Information Technology Program
Business Plan Priority - cultivate operational and organizational excellence
The Information Technology program provides technical resources for network infrastructure, software maintenance, data management and client services in support of Subdistrict activities. Infrastructure support provides design, maintenance and troubleshooting of the network and other IT infrastructure including computers, switches, firewalls and connections to outside communication entities. Client support services provides a broad range of services including help desk calls, audio visual support and workstation management. Information Technology expenses are primarily incurred by Northern Water and charged to the Subdistrict.
A summary of Information Technology program expenses is provided in the table below:
Expenditures by Program and Category
Information Technology Fiscal Year
2017 ActualFiscal Year
2018 Budget
Fiscal Year2018 Estimated
ActualFiscal Year
2019 Budget
DollarChange From
Fiscal Year2018 Budget
Percentage Change From
Fiscal Year2018 Budget
Expenditures:Program SummaryIT Support Services $50,379 $55,000 $55,000 $55,000 $0 0.00%
Geographic Information System 3,176 3,976 3,976 1,550 -2,426 -61.02%Travel and Training 8,034 4,072 4,072 3,372 -700 -17.19%
Total $61,588 $63,048 $63,048 $59,922 -$3,126 -4.96%
Summary by CategoryLabor $11,209 $8,048 $8,048 $4,922 -$3,126 -38.84%Non Labor 50,379 55,000 55,000 55,000 0 0.00%Total $61,588 $63,048 $63,048 $59,922 -$3,126 -4.96%
31
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Expenses, Programs
Contracts, Allotments and Inclusions Program
Business Plan Priority - cultivate operational and organizational excellence
The Contracts, Allotments and Inclusions program provides administrative services to assure that all lands receiving Windy Gap water are within the boundaries of the Subdistrict. All petitions for inclusion are reviewed and processed and submitted to the Board of Directors for approval before being submitted to the U.S. Bureau of Reclamation for Secretarial Assent. Once Secretarial Assent is received, all documentation is sent to legal counsel to prepare a motion to District Court for Order including lands into Subdistrict boundaries. In addition, any changes or transfers of allotment contracts for 480 acre-feet units are processed through the Contracts, Allotments and Inclusions program.
A summary of Contracts, Allotments and Inclusions program expenses is provided in the tables below:
Expenditures by Program and Category
Contracts Allotments and Inclusions
Fiscal Year2017 Actual
Fiscal Year2018 Budget
Fiscal Year2018 Estimated
ActualFiscal Year
2019 Budget
DollarChange From
Fiscal Year2018 Budget
Percentage Change From
Fiscal Year2018 Budget
Expenditures:Program SummaryAllotments $2,264 $2,000 $3,500 $3,500 --Inclusions 48,311 34,084 59,584 53,073 18,989 55.71%
Total $50,575 $34,084 $61,584 $56,573 $22,489 65.98%
Summary by CategoryLabor $32,909 $24,084 $24,084 $33,073 $8,989 37.32%Non Labor 17,666 10,000 37,500 23,500 13,500 135.00%Total $50,575 $34,084 $61,584 $56,573 $22,489 65.98%
32
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Water Activity Enterprise Fund Overview (continued)
Debt Service Expenditures
At this time, Windy Gap has no noncurrent liabilities. All outstanding indebtedness incurred for the construction of the Windy Gap Project was fully defeased in 2016. There are no future Windy Gap capital projects planned that will be funded by capital financing. The Subdistrict does not have a specific debt limit dollar amount threshold.
Capital Projects
Connectivity ChannelPipeline Electromagnetic TestFuels Treatment and Wildfire RiskBuilding Security Upgrade
Total
Fiscal Year2019 Budget
$ 540,000 250,000 103,325 15,000
$ 908,325
TotalCost Estimate(1)
$ 15,000,000
(1) If no amount is shown, the Fiscal Year 2019 budget amount represents the total project cost estimate.
Colorado River Connectivity Channel Project $540,000
Part of the 1041 permit conditions for Windy Gap Firming Project, the Windy Gap Reservoir Modification Study preferred alternative was the Connectivity Channel. The Connectivity Channel Project is a modification to the existing Windy Gap dam as necessary to bypass flows through and/or around the Windy Gap Reservoir. The focus for 2019 will be applying for the needed permits. The project contributions will be from Windy Gap Firming Project and several other organizations. The project is still waiting full funding.
Cost sharing on projects to improve forest health and protect infrastructure from wildfire risks.
The Subdistrict initiated a condition assessment on the Windy Gap pipeline in 1999. Initial testing indicated that the prestressing wire in the pipeline may be damaged. The Subdistrict has replaced two sections of damaged pipe and repaired several other. The Subdistrict continues non-destructive testing of the pipeline and the next planned interval is in 2019.
Fuels Treatment and Wildfire Risk $103,325
Pipeline Electromagnetic Test $250,000
Building Security Upgrade $15,000
Upgrade cameras, card access and other security components.
Net Cash Flows from (use) OperationsNet Cash Produced
Beginning Net PositionEnding Net Position
Fiscal Year2018 Estimated
Actual
$ 343,531 343,531
37,775,056 $ 38,118,587
Fiscal Year2019 Budget
$ 86,346 86,346
38,118,587 $ 38,204,933
Projected Net Position - Windy Gap
The projected net position below is for fiscal years 2018 and 2019. Net position is the residual of all other financial statement elements presented in a statement of net position.
Fiscal Year2017 Actual
( $ 1,890,828 ) ( 1,890,828 )
39,665,884 $ 37,775,056
33
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Firming Project Water Activity Enterprise Fund Overview
Comparison of Sources and Uses by Fiscal Year
PercentageChange From
Fiscal Year2018 Budget
6,854.67% 50.00%
6,836.57%
129.36% ( 100.00% ) ( 100.00% ) 38,660.00% 383.32% N/A
1,034.49%
Beginning Cash
SOURCES OF FUNDS Contributions and Bond Proceeds Interest and Rental Income
Total Sources
Balance sheet source
Total funds available
USES OF FUNDS Capital Planning Permits Design Land and Improvements Construction Mitigation and Enhancements Proprty Management
Total Uses
Ending cash
Total funds accounted for
Fiscal Year 2017Actual
$ 12,605,460
10,534,897
10,534,897
1,919,957
$ 25,060,314
$ 8,593 351,780 8,622,916 1,007,570 3,297,923 647,021
13,935,803
11,124,511
$ 25,060,314
Fiscal year 2018 Budget
$ 6,564,751
7,500,000 20,000
7,520,000
$ 14,084,751
$ - 218,000 6,247,000 1,500,000 283,000 2,553,889 -
10,801,889
3,282,862
$ 14,084,751
Fiscal year2018 Estimated
Actual
$ 11,124,511
9,032,793 20,000
9,052,793
$ 20,177,304
$ - 360,000 11,097,230 375,000 2,692,763 1,435,165 35,600
15,995,758
4,181,546
$ 20,177,304
Fiscal year 2019 Budget
$ 4,181,546
521,600,000 30,000
521,630,000
$ 525,811,546
$ - 500,000 109,690,383 12,343,450 12,950
122,546,783
403,264,763
$ 525,811,546
Dollar ChangeFrom
Fiscal Year 2018Budget
$
514,100,000 10,000
514,110,000
282,000 ( 6,247,000 ) ( 1,500,000 ) 109,407,383 9,789,561 12,950
$ 111,744,894
Beginning Cash
$4,181,546
Sources ofFunds
$521,630,000
Uses ofFunds
$122,546,783
Ending Cash
$403,264,763
34
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Firming Project Water Activity Enterprise Fund Overview (continued)
Business Plan Priority - plan and implement new water supplies
The Windy Gap Firming Project Water Activity Enterprise Fund is self-supporting through participants’ contributions. The Subdistrict has undertaken the Windy Gap Firming Project to increase the reliable firm yield of the exisiting Windy Gap Project. The annual delivery of Windy Gap Project water is not reliable in years of low spring runoffs, due to the Windy Gap Project’s junior water rights, and conversely, during some wet periods, storage space in Granby Reservoir is not available for Windy Gap Project water. In 1999, a group of the Windy Gap Project participants working through the Subdistrict, initiated the proposed Windy Gap Firming Project to complement the Windy Gap Project by firming a portion of their Windy Gap Project water units. The Windy Gap Firming Project participants include the Platte River Power Authority, Central Weld County Water District, Little Thompson Water District and the municipalities of Broomfield, Fort Lupton, Greeley, Lafayette, Longmont, Louisville, Loveland, Superior and Erie.
The specific purpose of the Windy Gap Firming Project is to increase the firm yield to approximately 30,000 acre-feet of water from the existing Windy Gap Project. Additional reliability and yield will be achieved by constructing a new 90,000 acre-foot reservoir, the Chimney Hollow Reservoir, located southwest of Loveland and just west of Carter Reservoir, dedicated to store Windy Gap Project water. Firm water deliveries from the Windy Gap Project are needed to meet a portion of the existing and future demands of the Windy Gap Firming Project partcipants and ultimately the existing and future demands the end users served within the boundaries of the Subdistrict.
The permitting process for the Windy Gap Firming Project began in 2003 and has included a 1041 permit which was received from Grand County in 2012, and an official Record of Decision (ROD) that was received from the U.S. Bureau of Reclamation in 2014, approving construction and operation of the Chimney Hollow Reservoir and a physical connection of the Chimney Hollow Reservoir and appurtenant facilities to the C-BT Project facilities. The Colorado Department of Public Health and Environment issued its 401 water quality certification for the Windy Gap Firming Project on March 25, 2016. Also, the State of Colorado officially endorsed the Windy Gap Firming Project and Chimney Hollow Reservoir on April 12, 2016. The final ROD and federal 404 Clean Water Act (CWA) permit from the U.S. Army Corps of Engineers was signed on May 17, 2017. This 404 CWA permit is the final federal requirement needed to construct Chimney Hollow Reservoir. Detailed design of the Windy Gap Firming Project facilities is expected to be complete in early 2019, followed by 41 months of construction and is expected to be operational in 2023. The estimated cost of the reservoir and appurtenant facilities is approximately $521.6 million.
The fiscal year 2019 Windy Gap Firming Project budget totals $122.5 million. This represents an increase of $111.7 million from the fiscal year 2018 budget. The increase is due to the planned construction of Chimney Hollow Reservoir.
$-
$100
$200
$300
$400
$500
$600
$-
$2
$4
$6
$8
$10
$12
$14
$16
2012 2013 2014 2015 2016 2017 2018 2019
Mill
ions
Mill
ions
Windy Gap Firming EnterpriseContributions
Actual Projected
$-
$50
$100
$150
$200
2012 2013 2014 2015 2016 2017 2018 2019
Mill
ions
Windy Gap Firming EnterpriseConstruction in Process
Actual Estimate
A summary of construction in progress costs and contributions are provided in the charts below:
35
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictWindy Gap Firming Project
Hansen Feeder Canalto Horsetooth Reservoir
Saint Vrain Supply Canal to Lyons
SouthernWater SupplyPipeline
Flatiron Penstocks
PowerPlant
Access Road
Bald Mountain Tunnelfrom Pinewood Reservoir Chimney Hollow
Inlet Pipe
SpillwayChannel
Dam
Dam
Dam
Dam
DamDam
Inlet/Outlet Tunnel
ChimneyHollow Reservoir
CarterLakeReservoir
FlatironReservoir
Proposed Chimney Hollow
Facilities
Flatiron/CarterPressure Tunnel
Spillway Canal& Stilling Basin18E
18E
31
31
8E
C-BT Project Existing FacilitiesChimney Hollow PipelineSpillway ChannelInlet/Outlet TunnelSpillway CanalProposed Dams
Legend
Northern Colorado Water Conservancy DistrictMunicipal Subdistrict
36
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Windy Gap Firming Project Proposed Financing Structure
The anticipated plan for financing consists of a Senior/Subordinate structure in which the Windy Gap Firming Water Activity Enterprise will issue Senior Lien Revenue Bonds (Senior Bonds) and will also enter into a Subordinate Lien Loan (Subordinate Loan) from the Colorado Water Conservation Board (CWCB). The amount of the Subordinate Loan will be up to $90 million. Section 12 of House Bill 17-1248 authorized the CWCB to make the Subordinate Loan for the Windy Gap Firming Project. The Governor signed the bill on May 23, 2017. Final approval of the Subordinate Loan by CWCB was November 15, 2017.
The Senior Bonds are anticipated to be a fixed-rate bond issuance of approximately $194 to $374 million. The proceeds of the Senior Bonds along with the Subordinate Loan, when combined with other funds provided by the Windy Gap Firming Project participants, will be used to pay the costs associated with the construction and completion of the Windy Gap Firming Project. It is expected that the Senior Bonds will close by the end of 2019.
Projected Net Position - Windy Gap Firming
The projected net position below is for fiscal years 2018 and 2019. Net position is the residual of all other financial statement elements presented in a Statement of Net Position.
ContributionsNet Cash Produced
Beginning Net PositionEnding Net Position
Fiscal Year2017 Actual
$ 10,534,897 10,534,897
33,161,451 $ 43,696,348
Fiscal Year2018 Estimated
Actual
$ 9,052,793 9,052,793
43,696,348 $ 52,749,141
Fiscal Year2019 Budget
$ 521,600,000 521,600,000
52,749,141 $ 574,349,141
The significant increase in net position is the result of receiving contributions with no operation and maintenance expense. This fund has no operations at this time and will start when the Chimney Hollow Reservoir is completed.
Percent ofTotal Usesof Funds
89.51% 10.07 0.47 0.01
100%
89.51%
10.07%
0.41% 0.01%
Construction
Mitigation andEnhancements
Permits
Property Management
ConstructionMitigation and EnhancementsPermitsProperty Management
Total
Budget
$ 109,690,383
12,343,450 500,000 12,950
$ 122,546,783
Windy Gap Firming Project Water Activity Enterprise Fund Overview (continued)
Capital Expenditures
A summary of the expenses is provided in the table and charts below:
37
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictWindy Gap Firming Project Participants
N
C-BT Delivery System
Northern Water Boundaries
CARTERLAKE
HORSETOOTHRESERVOIR
RAWHIDEEnergy Station
FLATIRONRESERVOIR
BOULDERRESERVOIR
South Platte Rive
r 2
4 5
12
3
119
18
Cache la Poudre River
6
7
10
Participants Storage Volume
(acre-foot) Percent1 Broomfield 26,464 29.40%
2 PRPA Service Area 16,000 17.78%
4 Loveland 9,587 10.65%
5 Greeley 9,189 10.21%
3 Longmont 8,000 8.89%
6 Erie 6,000 6.67%
7 Little Thompson Water District 4,850 5.39%
8 Superior 4,726 5.25%
9 Louisville 2,835 3.15%
10 Fort Lupton 1,103 1.23%
11 Lafayette 900 1.00%
12 Central Weld County Water District 346 0.38%90,000 100%
38
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAdopted BudgetFiscal Year 2019
Municipal Subdistrict District Fund Overview
The Municipal Subdistrict District Fund, in accordance with Colorado statutes, is the owner of the Windy Gap Water Activity Enterprise Fund and the Windy Gap Firming Project Water Activity Enterprise Fund.
Comparison of Sources and Uses by Fiscal Year
PercentageChange From
Fiscal Year2018 Budget
Beginning cash
SOURCES OF FUNDS
Revenues Contributions Earnings on Investments
Total Sources
Total Funds Available
USES OF FUNDS
Expenses Board of Directors
Total Uses
Ending Cash
Total Funds Accounted For
Board Expenses FICA Legal fees Directors’ fees Travel/lodging/meals/data Bonds
Total
Fiscal Year2017 Actual
$ 15,374
69,500 2
69,502
$ 84,876
$ 68,836
68,836
16,040
$ 84,876
$ 1,889 22,910 24,700 19,237 100
$ 68,836
Fiscal Year2018 Budget
$ 17,173
100,050 2
100,052
$ 117,225
100,050
100,050
17,175
$ 117,225
$ 2,200 37,950 28,800 25,500 5,600
$ 100,050
Fiscal year2018 Estimated
Actual
$ 16,040
78,600 2
78,602
$ 94,642
$ 79,480
79,480
15,162 $ 94,642
$ 2,200 24,880 28,800 23,500 100
$ 79,480
Fiscal Year2019 Budget
$ 15,162
100,050 2
100,052
$ 115,214
100,050
100,050
15,164
$ 115,214
$ 2,200 37,950 28,800 25,500 5,600
$ 100,050
Dollar ChangeFrom
Fiscal Year 2018 Budget
39
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAcronyms
AFAcre-foot or Acre-feet
CAFRComprehensive Annual Financial Report
C-BTColorado-Big Thompson Project
CIPCapital Improvement Plan
COEU.S. Army Corps of Engineers
COPsCertificates of Participation
CWCBColorado Water Conservation Board
CRSColorado Revised Statutes
CWAClean Water Act
DEISDraft Environmental Impact Statement
DOLADepartment of Local Affairs (Colorado)
EAMEnterprise Asset Management
EISEnvironmental Impact Statement
EPAEnviromental Protection Agency
FEMAFederal Emergency Management Agency
FTEFull time equivalent
FONSIFinding of no significant impact
GAAPGenerally Accepted Accounting Principles
GASBGovernmental Accounting Standards Board
GISGeographic Information System
40
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictAcronyms
IPSInvestment Policy Statement
NEPANational Environmental Policy Act
NORTHERN WATERNorthern Colorado Water Conservancy District
NRCSNatural Resource Conservation Service
NWRANational Water Resource Association
RODRecord of Decision
ROWRight of Way
SUBDISTRICTMunicipal Subdistrict, Northern Colorado Water Conservancy District
TABORTaxpayers Bill of Rights, revenue and tax limit amendment. See Amendment 1 (glossary).
TIFTaxing Increment Finance District
41
Municipal Subdistrict, Northern Colorado Water Conservancy DistrictGlossary
Accounting StandardsSubdistrict’s financial statements are prepared in accordance with principles generally accepted in the United States of America (GAAP). Additionally, the Subdistrict applies all applicable pronouncements of the Governmental Accounting Standards Board.
Acre-foot or Acre-feetVolume of water equal to one foot in depth covering an area of one acre, or 43,560 cubic feet; approximately 325,851 gallons. One acre-foot is roughly the amount needed to serve 2.5 families each year.
Adopted BudgetThe budget adopted by the Board of Directors at the August Planning and Action meeting. The adopted budget becomes effective annually as of October 1, and appropriations lapse at fiscal year end (September 30).
AllocationsDistribution of costs.
Amendment 1Approved by the electorate in the November 1992 election, this amendment is known as the Taxpayers Bill of Rights (TABOR). This is a revenue and expenditure limiting amendment to the Colorado constitution. The limit is determined by whichever is more restrictive to the growth of government.
AppropriationLegal authorization granted by the Board to make expenditures as specified in the appropriating resolution.
AssetsEconomic resources owned by the Subdistrict.
AuditA systematic collection of sufficient, competent evidential matter needed to attest to the fairness of management’s assertions in the financial statements.
Basis of AccountingThe Subdistrict’s financial statements are accounted for on the flow of economic resources measurement focus, using the accrual basis of accounting. Under this method, all assets and liabilities associated with operations are included on the statement of net assets, revenues and are recorded when earned, and expenses are recorded at the time liabilities are incurred. This is different from the basis of budgeting.
BoardIn the Subdistrict, this is a 12-member group of appointed officials.
BudgetA financial plan for a specif