Election Notice to Create Financial Obligation

Election Notice to Create Financial Obligation

The PDF version of this is located here:  Election Notice to Create Financial Obligation

SENATE BILL 03-139 (§ 1-7-908, C.R.S.) NOTICE

HUERFANO SCHOOL DISTRICT RE-1

NOTICE IS HEREBY GIVEN by the Board of Education of the above referenced school district (the “School District”) of the information required under Section 1-7-908, Colorado Revised Statutes.

General Fund Information
Year Revenues Expenditures Ending Balance
July 1, 2016-June 30, 2017 $5,159,589 $4,538,712 $2,254,833
July 1, 2017-June 30, 2018 $5,758,084 $5,375,282 $2,337,635
July 1, 2018-June 30, 2019 $6,080,257 $5,862,767 $2,280,125
July 1, 2019-June 30, 2020 $6,651,721 $6,454,633 $2,198,714
July 1, 2020-June 30, 2021 (projected) $4,920,871 $5,273,863 $1,403,908

 Bond Redemption Fund Information

Year Revenues Expenditures Ending Balance
July 1, 2016-June 30, 2017 $419,105 $415,556 $677,413
July 1, 2017-June 30, 2018 $453,246 $430,000 $700,659
July 1, 2018-June 30, 2019 $442,618 $409,350 $733,927
July 1, 2019-June 30, 2020 $436,036 $413,625 $756,338
July 1, 2020-June 30, 2021 (projected) $411,350 $412,525 $728,577
Short Term Financial Obligation Information
Year Amount Incurred During Fiscal Year
July 1, 2016-June 30, 2017 $0
July 1, 2017-June 30, 2018 $0
July 1, 2018-June 30, 2019 $0
July 1, 2019-June 30, 2020 $0
July 1, 2020-June 30, 2021 (projected) $0

Emergency Reserve

The School District’s emergency reserve required by Section 20(5) of Article X of the Colorado Constitution is held in the School District’s ____General____ Fund.

The School District’s emergency reserve fund has been fully funded by cash or investments for the current fiscal year and each of the last four fiscal years.

Financial Information Review

The School District’s audited financial statements for the last four fiscal years, any management letters that have been made public and have been provided to the School District by its auditors in connection with the preparation of its audits for the last four fiscal years, and the School District’s budget for the current fiscal year may be reviewed by any person at the following location or locations:

__201 E. 5th Street, Walsenburg CO  81089  or  http://huerfano.k12.co.us/?page_id=65

Short term financial obligation means cash-flow debt or other financial obligation that has a term of not more than one year.

Election Notice to Create Financial Obligation