Budgetary Basis and Organization
The accounting system for Estes Valley Recreation and Park District is organized as a single enterprise fund, with revenues and expenses further classified into various departments (golf, marina, administration, etc.). The District budgets and reports on a calendar fiscal year. Sources of income include:
- Fees and charges
- Property taxes
- Intergovernmental/grants
- Interest and miscellaneous
Historically, fees and charges have accounted for 55 to 60 percent of total revenues, property taxes approximately 25 percent, and intergovernmental/grant sources about 15 percent. Recently, public funding for recovery from the 2013 flood and passage of a bond election in 2015 for construction of the Estes Valley Community Center have increased the grant and property tax shares.
Personnel costs account for almost two-thirds of operating expenses. Other primary expense categories (about 7 percent each) are operating supplies, facilities and equipment repairs and maintenance, and utilities and fuel.
The District has established a goal to make annual capital and facility improvement investments equivalent to at least 10% of operating expenses. This is accomplished by setting aside a percentage of fees and charges earmarked for facility improvements and leveraging other funding sources as available.
The District also strives to maintain a target operating reserve of at least 25 percent of annual base operating expenses. Maintaining the reserve is achieved by budgeting and meeting cost recovery and return-on-investment goals for each department.