Audited Financial Statements 2017 (pdf)
Audited Financial Statements 2016 (pdf)
Audited Financial Statements 2015 (pdf)
Audited Financial Statements 2014 (pdf)
Federal Awards Report 2014 (pdf)
Audited Financial Statements 2013 (pdf)
Audited Financial Statements 2012 (pdf)
Audited Financial Statements 2011 (pdf)
Audited Financial Statements 2010 (pdf)
Audited Financial Statements 2009 (pdf)
Adopted Budget 2019 (pdf)
Adopted Budget 2018 (pdf)
Adopted Budget 2017 (pdf)
Adopted Budget 2016 (pdf)
Adopted Budget 2015 (pdf)
Adopted Budget 2014 (pdf)
Adopted Budget 2013 (pdf)
Adopted Budget 2012 (pdf)
Adopted Budget 2011 (pdf)
The Left Hand Water District serves potable water to customers within the District’s boundaries and service area in Boulder, Broomfield and Weld counties. Approximately 85% of the customer accounts served are single-family residential accounts; the remaining 15% are commercial, multiple-housing or master meter community accounts.
The Budget for 2019 reflects the anticipated revenues primarily from water sales to existing customers. It also includes revenues from tap sales to new development in rural Boulder and Weld Counties, as well as in areas served by the Left Hand Water District that are within the Town of Frederick and lie within the District. Revenue projections in 2019 reflect an increase in basic service fees and volume charges for most regular tap-holding customers of between 10% and 14%. Water rates, fees, and charges are budgeted to pay all current operation and maintenance expenses of the system, to accumulate funds for future maintenance and replacement costs, and to create net revenue in the amount necessary to pay the principal and interest on all debt.
The 2019 Budget reflects an anticipated increase in operating expenditures of approximately 10.8% over the 2018 budget, as well as capital expenditures for both new projects and repair and replacement projects for existing infrastructure. The budget also includes expenditures for regional raw water supply and delivery projects in which the District is participating. Included in the capital projects is the District’s participation in the Southern Water Supply Project II (SWSPII), a collaborative project through the Northern Colorado Water Conservancy District to provide a raw water pipeline from Carter Lake to the Dodd Water Treatment Plant which is being funded by a loan through the Colorado Water Conservation Board Water Project Loan Program. Budgeted capital expenditures also includes the District’s connection to the SWSPII pipeline, which will include hydropower generation and is being funded through a loan from the Colorado Water Resources & Power Development Authority’s Small Hydropower Loan Program. The remainder of capital and construction projects will be funded from the Board designated reserve fund for replacement of infrastructure or from unrestricted funds. The replacement reserve is funded from water charges and tap fees; replacement projects are included in long range strategic plans and prioritized annually.
BASIS OF ACCOUNTING
The District’s consolidated budget shows all revenues from all sources flowing into a general fund for payment of debt service. In order to clearly identify the government and enterprise functions of the District, the District’s financial statements and annual budget reflect a separation of these functions.
The District operates as an Enterprise Fund as prescribed in standards for governmental accounting systems. The intent of the Board is that costs and expenses (including depreciation) of providing services to customers will be financed or recovered primarily through user charges.
The District operates as a Water Activity Enterprise, as established by Resolution in 1993, and is therefore exempt from the requirements and limitations of Section 20, Article X of the Colorado Constitution.