Forest Lakes Metropolitan District and Pinon Pines Metropolitan Districts 2 and 3, June 14 – 2023 budgets amended

By Natalie Barszcz

The Forest Lakes Metropolitan District (FLMD) and Pinon Pines Metropolitan District (PPMD) 2 and 3 boards held a joint special meeting on June 14 to conduct public hearings on the amended 2023 budgets for FLMD and PPMD’s 2 and 3. The boards also adopted a second amendment to the FLMD and PPMD’s 2 and 3 budgets appropriating funds for the respective districts.

Note: The joint meeting was held via teleconference, the first meeting since December 2023. See www.ocn.me/v24n1.htm#flmd. A quorum could not be met for a special meeting scheduled on June 28 to approve the 2023 audits.

Secretary Joe Loidolt, president of Classic Homes, was excused.

2023 budget amendments

President George Lenz, executive vice president of finance for Classic Homes, opened the public hearing on the 2023 budget amendments for FLMD and PPMD’s 2 and 3. No comments were heard, and the public hearing was closed.

District Manager Ann Nichols said she had already amended the budget for FLMD for the conveyance of public infrastructure the district receives at year end for the Falcon Commerce Center phase 2 and FLMD filings 5, 6, and 7. Developers spent a significant amount on installing public roads, which creates a liability for the developers until those assets are transferred. The district immediately made the following entries to dedicate the public roads to the appropriate entities:

El Paso County filings 5, 6, and 7
The Town of Monument—Falcon Commerce Center

Nichols said there is no expenditure, just a journal entry the auditors insist is covered by an appropriation, and the board was asked to review the worksheet and approve the resolutions for:

The additional appropriated amount of $9.5 million for road infrastructure in FLMD, a contribution to other governments.
An additional $600 for the liability insurance increase for PPMD 2 (West Valley).
An increase in funds for the 2023 audit for PPMD 3 (Falcon Commerce Center).

The district had allocated $1,000 in the budget for a request for audit, but due to the level of activity in PPMD 3, a full-blown audit was required for about $6,000, said Nichols.

Treasurer/Assistant Secretary Douglas Stimple, chief executive officer of Classic Homes, said there had been no requirement to make similar corrections before audit presentations for any of the other special districts Classic Homes had developed.

Nichols said the district’s auditors, Hoelting & Co. Inc., had notified the district that even though there is not an actual expenditure of funds, a note in the audit would appear stating the district had exceeded its appropriations. It is worth the effort to make the journal entry corrections and appropriations before submitting the audit to the state, and the auditors agreed, said Nichols.

The board made a blanket motion to approve three resolutions appropriating funds for the three districts.

The meeting adjourned at 10:35 a.m.

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Meetings are usually held quarterly or when necessary, on the first Monday of the month at 4 p.m., via Teleconference. A special meeting will be held in July (date to be confirmed) for the 2023 audit presentations. Meeting notices are posted at least 24 hours in advance at forestlakesmetrodistrict.com. For general questions, contact Nichols at 719-327-5810, anicholsduffy@aol.com.

Natalie Barszcz can be reached at nataliebarszcz@ocn.me.

2023 budget amendments

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