Every single day we are reminded what an enormous responsibility we have to serve you and your family’s needs while remaining financially prudent. With this fiduciary responsibility, we act in accordance with Colorado State Statutes and our Home Rule Charter.
Simply put, we
- administer financial record keeping and reporting functions for the town and Metropolitan District;
- advise Town Council on financial policy and strategic planning;
- perform accounting activities, budget control, debt and treasury management, internal audits and purchasing; and
- produce financial statements and fiscal budgets for the town and Metropolitan District.
OpenGov Financial Transparency Portal
While the Town of Mountain Village has shown its commitment to financial transparency by posting financial documents on our Town’s website, including the Mountain Village operating budgets, sometimes additional information may be sought out by community members. Often, that information is more easily understood through interactive charts and graphs.
In an effort to enhance transparency in financial reporting, the Town of Mountain Village has partnered with OpenGov, a California-based company specializing in financial transparency to offer an interactive reporting tool for members of the community to explore our budget data online in various graphical formats.
The new OpenGov web portal provides the opportunity to view, filter, and analyze revenue, expense, financial data for Mountain Village. The reporting platform will provide 2 years of “actuals”, current and proposed budgets, and long term projections. Also, the data can be downloaded (i.e. in Excel) for offline analysis for your perusal.
Financial Planning Management Summary
In keeping with our goal of providing comprehensive, understandable and consolidated financial information, we created a report that lists all funds inflows and outflows, breaking out expenses by type and assigning debt service to its appropriate function. The information is segregated into governmental funds, enterprise (business-type) funds, and special revenue (pass-through) funds. This summary is a combined town revenue and expenditure summary not prepared in accordance with governmental budgeting and accounting standards, but rather to provide a summary of revenue and expenditures by function. This report is presented to Town Council quarterly and is available below.
Annual Report (CAFR)
For 17 consecutive years we have received an award from the Government Finance Officers Association for excellence in financial reporting. By law we are required to issue an annual report on our financial position and activity. This report is audited by an independent firm of certified public accountants, and the accuracy, completeness and fairness of the information presented, including all disclosures, rests with our finance management team.
Budget – Revised, Current, Long Term
Our budget process begins about six months before Town Council officially adopts the budget in early December and it is quite thorough in terms of strategic and tactical planning. It is also what helps define our course of action for the calendar year, so we highly encourage you to be part of the budget process. We hold one public worksession with Town Council in October, but even before that staff, along with members of the Budget Committee, scrubbed the budget before it even goes before Town Council for deliberation and discussion. In the end, the adopted budget contains next year’s figures, the previous year’s revised budget, and a long-term financial plan spanning four years.
In previous years, we have made our budget and financial statements available to the public in a manner that was very much numbers driven, like the documents above. The need to provide the public with a more reader and user-friendly document gave impetus to a new way of relaying budget information to you. With charts, graphs and summaries, the 2018 Budget Booklet encapsulate the nuts-and-bolts of a municipal budget, including:
- 2018 Town Manager’s Budget Transmittal Message
- Departmental Program Narratives & Performance Measures
- 2018 Adopted Budget
- 2017 Final Budget
- 2019-2022 Long-Term Budget Projection”
Metropolitan District Dissolution & Debt Fund
The Metropolitan District was formed in 1983 to provide certain municipal services like domestic water, drainage, roads, transportation and waste water treatment. About 20 years later District determined that it should dissolve and that we, the town, should assume the governmental services and functions that were performed by District. In December 2006, the San Miguel District Court approved the dissolution effective January 1, 2007. The District’s electors also approved the dissolution in the November 2006 election. The District is in existence to the extent necessary to provide for the payment of the debt service requirements of its outstanding General Obligation Bonds. Moreover, Town Council is responsible for setting an annual mill levy on behalf of District for the payment of the debt service requirements outlined in the Metro District Final 2018 Budget, Adopted 2017 till 2022 for the Debt Service Fund.