Financial Information / Budget

The District approved the budget for the fiscal year 2023 on December 2, 2022. The District is required to approve a balanced budget. The budget for 2023 anticipates $15,881,838 in revenues and $19,140,028 in expenditures.

The District has two operating funds: The General Fund pays for general overhead (personnel, office expenses, public works, landscape, street and storm drainage maintenance expenses, and snow removal). The supporting revenues are derived from property taxes. The General Fund represents about 45% of the total budget. The Enterprise Fund pays the expenses related to providing water treatment and distribution and sanitary sewer collection services to The Village at Castle Pines. The supporting revenues for the Enterprise Fund are derived from the user fees charged to property owners each month (water and sewer bills). The Enterprise Fund represents about 55% of the total budget.

The District’s total mill levy remains at 33.834 mills for property taxes – the same rate since 2001. Property taxes are assessed, collected, and distributed by the Douglas County Assessor.

2023 Budget:

General Fund Key Highlights

• Revenue from property taxes is essentially flat.
• Investment income is projected to double in 2023 (from $220,000 to $450,000).
• Committing $3.3M to road repair, maintenance, and safety improvements in 2023.
• Committing $2.4M to Resident Irrigation Efficiency Analysis and Rebate program in 2023.
• The ending fund balance is projected to decline from $15.9M in 2022 to $13.3M in 2023. This decrease is entirely due to one-time funding of the Resident Irrigation Rebate Program and flat revenues.

Enterprise Fund Key Highlights

• Forecast 30 million gallons (MG) reduction in water consumption (full-year effect from all the irrigation upgrades in 2022).
• Completed Irrigation Efficiency Analyses on approximately 1,084 homes in the Village (over 60% of all residences) in 2022. Anticipate processing the remaining “lion’s share” of the irrigation analysis and rebate submissions in 2023.
• Projected revenues exceed operating expenditures:
  • Meet debt service coverage ratios.
  • Depreciation Funding ($1.1M in 2023).
  • Capital Replacement Reserve ($1.5M in 2023).
• Capital project investment of $9.0M (majority is funded by bond proceeds).
• Investment returns exceed interest expense.

If you would like a hard copy of the 2023 Budget, please contact Sue Mantz at 303-688-8330. The 2023 Budget is also an attachment listed below.