2017 Apex PRD Final Budget

97 Pages·2016·7.08 MB·English

Budget 2017

APEX PARK AND RECREATION DISTRICT, COLORADO
2017 Budget

Report Prepared By
Apex Park and Recreation District, Finance Division

Available online at
Apexprd.org

2017 Budget: Readers Guide
The 2017 Budget document is divided into sections listed and explained below:
Introductory Section
This section contains the transmittal letter, which is the communication from the Executive Director and
Finance Director to the Board of Directors of Apex Park and Recreation District. It highlights the 2017
Budget including how it addresses the priorities established by the Board, changes from the prior year
and economic trends impacting the District.
Budget Summary
The Budget summary includes a high-level overview about the District, its structure and budget process.
The summary also presents summary tables and graphs of the 2017 budget.
Fund Summaries
This section explains the fund structure of the District and purpose of the funds. The budget for each
fund is presented along with analysis of past financials and current projections.
Division/Program Detail
This section gives the organizational structure of the District. Each division is summarized with a
background and its descriptions of programs. This summary includes performances measurements and
goals along with the budget.
Capital Project Plan
This plan shows the capital project planning for the District and discusses the projects, the funding and
any future costs or benefits.
Appendices
The Appendices contains the breakdown of the property tax levy calculation and the assessment from
the counties. In addition, there is resource information with the Fiscal Health Report and a Glossary,
which provides definitions of words used throughout the document that may not be familiar to the
reader.

TABLE OF CONTENTS
INTRODUCTORY SECTION
Transmittal Letter 1
BUDGET SUMMARY
District Overview 4
What is the District’s Fund Structure? 6
What is the Budget Process? 7
What Policies Guide the Budget Process? 8
What is the 2017 Budget? 12
FUND SUMMARIES
Fund Summary Overview 17
General Fund 19
Capital Fund 25
Conservation Trust Fund 26
Debt Service Fund 27
Golf Fund 31
DIVISION/PROGRAM DETAIL
Overview 36
Administration 37
Racquet Sports and Fitness 40
Recreation Services 42
Community Recreation Center 46
Aquatics 49
Apex Center 52
Golf- Indian Tree 54
CAPITAL PROJECT PLAN
Capital project plan 57
APPENDICIES
2017 Budget Appropriation Resolution 62
Tax Levy Assessments 66
Fiscal Health Report 79
Glossary 85

December 12, 2016

Board of Directors
Apex Park and Recreation District
13150 W. 72nd Avenue
Arvada, CO 80005

To the Board of Directors, citizens and patrons:
We are pleased to submit the 2017 budget of $43,762,910 to the Board, making use of all available
funds. We believe we have addressed the operating needs of the District and all the highest priorities.
This budget is being submitted in accordance with §29-1-105, Colorado Revised Statutes.
Budgeting is not an independent process, as other planning efforts such as strategic planning and capital
improvement planning drive budget development. The budget process involves all of management and
the Board with monitoring throughout the year as described in the Budget Summary. The annual Budget
is one of the most important documents approved by the Board due to its comprehensive nature,
including outlining the range of services offered, prioritizing the allocation of government resources and
the time invested by both the Board and staff in future planning
2017 Budget
The total 2017 operating budget for all appropriated funds is $43,762,910, this large increase is due to
the new Bond projects. For operations, the General fund 2017 appropriation is $12,709,139 and the Golf
fund $2,012,145. There are some big changes for the 2017 with the new issuance of bonds and the
projects approved by the voters in May of 2016. Below are the items impacting the 2017 budget.
Fund Designation Change
The Apex Recreation Center was accounted for in previous years as an enterprise fund, which are funds
that account for activities that are often seen in the private sector and are operated in a similar manner
as in the private sector. This Apex fund has operated to be self-sufficient but not to cover costs in the
matter of accrual accounting covering costs such as depreciation. This fund will be eliminated and the
Apex Recreation Center will be a department accounted for in the General fund, the main operating
account of the District.
Revenue Performance
Fees assessed this year were based on market research, program costs and economic factors. The Board
approved the admission and activity fees August 2016; all other program fees have been assessed and
approved by the Executive Director. The Denver Metro area economy is improving, specifically within
the District’s boundaries, and housing prices are increasing. The preliminary property tax assessment
has increased, which increases the District’s tax revenue base.
Apex Park and Recreation District | Transmittal Letter 1
Expenses
The 2017 budget there are no major onetime expenses other than capital projects. Inflation for the first
half of 2016 is 3% for the metro area so the budget reflects rising costs. The District’s Workers
Compensation and Property and Liability insurance provider (Colorado Special Districts Property and
Liability Pool) has estimated for the District that the Insurance Pool will raise insurance rates 6%. Our
health insurance premiums are estimated to increase by 5% for 2017.

Employee wages have increases with market surveys that were performed that impacted some ranges
for January 2017 and there are planned raises for the rest of the staff not impacted by the other changes
that will occur in July 2017. In addition, there are five proposed new full time positions starting in
various times through spring and summer for the General fund and two full time positions for the Golf
Fund.
Capital Projects
With the new debt issuance approved by voters in May 2016 there are six major projects starting in
2016 finishing by 2018 with the bulk of the spending occurring in 2017. Also, there are projects funded
by Conservation Trust Fund and the Capital fund which include the completion of the Simms Street
center and grounds.
Funds Bottom Line and Reserves
To maintain the District’s strong financial position and excellent credit rating while being able to
maintain and improve assets, fund balance is important to monitor and maintain enough to weather any
future financial crisis. The overall General fund unappropriated/unassigned reserve fund is forecast to
be approximately $3,163,946 by year-end 2017.
Conclusion
In closing, we respectfully submit the 2017 budget for the Board of Directors, District employees, and
the residents and patrons of the District. Staff spent many hours discussing priorities and options for
2017, and we believe that the 2017 Budget will allow us to continue to operate the District adequately,
to our standards and most citizen expectations.

Respectfully submitted,

Lauri Dannemiller Kristin Donald
Executive Director Finance and Human Resources Director
2 Transmittal Letter | Apex Park and Recreation District