Presented by: Brighton Crossings Operations Board Quarterly Board Meeting March 3, 2020
2018 Budget – O&M and Community Management Increases • Facility management team began weekly onsite visits & increased YMCA scope in Summer of 2018 • Covenant Enforcement & Collection Policies Implemented 2019 Budget – O&M and Community Management Expenditure Reductions + Contribution of Development Fees & Ending Fund Balance. • Constituent Communications – Monday, Wednesday, Friday + Website & Phone Tree Budget • Website project scaled down • O&M Repairs & Replacements & Allowances Removed History & 2020 Budget – Adopted Fee Increase • Operations Fee - $135 Quarterly ($45 Monthly) to $210 Quarterly ($70 Monthly) Effective July 1, 2020 Fee Increase • Trash Fee - $36 Quarterly ($12 Monthly) Effective July 1, 2020 • Alley Fee – Remains the same $75 Quarterly ($25 Monthly) • Courtyard Fee – Remains the same $45 Quarterly ($15 Monthly) • Maintenance Fee – Spree Neighborhood (PA7) $240/$180 Quarterly 2020 O&M Budget Reductions – $64,540 Reduction in 2020 Adopted Projected Budget • Social Committee 2020 projected from $10,000 to $6,000 - $4,000 Reduction • Hardscape Maintenance 2020 projected from $124,000 to $96,260 - $27,740 Reduction • Venture Center O&M – Programming & Staffing Adjustments - $32,800 Reduction Finance Committee, Capital Reserve Study & Updates to Proforma
District Total Mill Taxes & Community Levy Fees Comparison Reunion (HOA/District) 88.305 $7,796 of Community St. Vrain Lakes (District) 72.363 $6,002 Taxes and Fees – 2020 Brighton East Farms (HOA/District) 73.074 $5,614 Brighton Crossings (Authority/District) 66.797 $5,608 The Lakes at Centerra (HOA/District) 75.785 $5,521 Todd Creek (District – Minimal Services) 30.000 $4,071
Goal of Short-Term and Long-Term Financial Health (be able to pay the bills) Key Revenues include service fees from District No.s 4- 8 • Property Taxes • Specific Ownership Taxes Finances • Development Fees Other Key Revenues are end-user fees • Operations Fee • Trash Fee • Alley Fee • Courtyard Fee Mill levies certified in December 2019 are at the maximum allowed by the Districts’ service plans
Brighton Crossings Operations - During Budget Planning Revenue and Expenditures 2020 -- 2026 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $- 2020 2021 2022 2023 2024 2025 2026 Other Transfer Fees Operations Fees Property Taxes Development Fees Expenditures
Operation and Maintenance Fee History Brighton Crossings O&M Fee Rate History $160 $135 $135 $135 $140 $123 $120 $120 $120 $120 $120 $120 $100 $80 $54 $54 $60 $45 $45 $45 $45 $40 $20 $- $- 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Brighton Crossings Operations Operations Fee and Operations Expense $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $- 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 General Operations Fees Operations & Maintenance Expenditures
Brighton Crossings Operations Adopted Fee Increase -- Reduced Expenses 2020 -- 2026 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $- 2020 2021 2022 2023 2024 2025 2026 Other Transfer Fees Operations Fees Property Taxes Development Fees Expenditures
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