Grand Lake Fire Protection District 2020 BUDGET

Grand Lake Fire Protection District 2020 Audit

 

Annual Budget
C.R.S. 29-1-101 et seq.

A budget for each special district is required to be submitted to the Division of Local Government on an annual basis. The budget must contain revenues, expenditures, and fund balances. Each budget must also contain a message of significant budget issues for the year, the basis of accounting, and any leases that the district is involved in. A draft budget must be presented to the board of directors by October 15th. A hearing is set for public comment thereafter. The budget document must then be adopted by December 31st (Dec 15th if levying property taxes) and submitted to the Division of Local Government by January 31st of the budget year. Special district budgets are available for review at the office of the special district, or at the Division of Local Government’s Denver office.

Basic Budget Calendar
 

October 15 – Budget Officer must present a Draft budget to the governing body. Budget Hearing is scheduled and draft is available for public review and comment.

December 15 – Budget must be adopted and mill levy set for property taxing entities.

December 31 – Budget must be adopted for non-property taxing entities.

January 31 – Budget must be submitted to the Division of Local Government.

Annual Audit Requirement
C.R.S. 29-1-601 et seq.

Special Districts must complete and submit a copy of an audit of the districts financial statements or an application for exemption from audit on an annual basis. Audits must be completed by an independent external auditor. Exemptions from audit are for governments with smaller budgets ($500,000 or less), and require submission of financial information compiled by finance professionals and approved by the Office of the State Auditor. Audits are due to the Office of the State Auditor by July 31st annually while exemptions are due to the same office by March 31st. Audits are available for review at the office of the special district, at the Office of the State Auditor, and at the Division of Local Government’s Denver office.