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HomeMy WebLinkAbout2025-1 VLHA Resolution Approving an Exemption from AuditRESOLUTION NO. 1 SERIES OF 2025 A RESOLUTION APPROVING AN EXEMPTION FROM AUDIT FOR THE FISCAL YEAR 2024 FOR THE VAIL LOCAL HOUSING AUTHORITY IN THE STATE OF COLORADO. WHEREAS, the board of the Vail Local Housing Authority wishes to claim exemption from the audit requirements of Section 29-1-603, C.R.S.; and WHEREAS, Section 29-1-604, C.R.S. states that any local government where neither revenues nor expenditures exceed five hundred thousand dollars may, with the approval of the state auditor, be exempt from the provisions of Section 29-1-603, C.R.S.; and WHEREAS, neither revenues nor expenditures for the Vail Local Housing Authority exceeded $100,000 for fiscal year 2024; and WHEREAS, an application for exemption from audit for the Vail Local Housing Authority has been prepared by Jake Shipe, a person skilled in governmental accounting; and WHEREAS, said application for exemption from audit has been completed in accordance with regulations issued by the state auditor. NOW THEREFORE, it will be ordained by the board of the Vail Local Housing Authority that the application for exemption from audit for the Vail Local Housing Authority for the fiscal year ended, December 31, 2024, has been reviewed and is hereby approved by a majority of the board of the Vail Local Housing Authority' that those members of the Vail Local Housing Authority have signified their approval by signing below; and that this resolution shall be attached to, and shall become a part of the application for exemption for audit of the Vail Local Housing Authority for the fiscal year ended December 31, 2024. ADOPTED THIS 11th DAY OF March 2025. ATTEST: Martha And rson, Secretary RESOLUTION NO. 1, SERIES OF 2025 SIGN Steve indstrom, Chairman Members of Board Steve Lindstrom Craig Denton Christine Santucci Kristin Kenny Williams Dan Godec Date Term ExQires 05/31 /2025 05/31 /2027 05/31 /2029 05/31 /2028 05/31 /2026 RESOLUTION NO. 1, SERIES OF 2025 SHORT FORM Under the Local Government Audit Law (Section 29-1-601, et seq., C.R.S.) any local government may apply for an exemption from audit if neither revenues nor expenditures exceed $750,000 in the year. To qualify for exemption from audit, a local government must complete an Application for Exemption from Audit EACH YEAR and submit it to the Office of the State Auditor (OSA). Any preparer of an Application for Exemption from Audit -SHORT FORM must be a person skilled in governmental accounting. Approval for an exemption from audit is granted only upon the review by the OSA. ALL APPLICATIONS MUST BE FILED WITH THE OSA WITHIN 3 MONTHS AFTER THE ACCOUNTING YEAR-END. FOR EXAMPLE, APPLICATIONS MUST BE RECEIVED BY THE OSA ON OR BEFORE MARCH 31 FOR GOVERNMENTS WITH A DECEMBER 31 YEAR-END. APPLICATIONS FOR EXEMPTION FROM AUDIT ARE NOT ELIGIBLE FOR AN EXTENSION OF TIME GOVERNMENTAL ACTIVITY SHOULD BE REPORTED ON THE MODIFIED ACCRUAL BASIS PROPRIETARY ACTIVITY SHOULD BE REPORTED ON A BUDGETARY BASIS PRIOR YEAR FORMS ARE OBSOLETE AND WILL NOT BE ACCEPTED. FOR YOUR REFERENCE, COLORADO REVISED STATUTES CAN BE FOUND AT: APPLICATIONS SUBMITTED ON FORMS OTHER THAN THOSE PRESCRIBED BY THE OSA WILL NOT BE ACCEPTED. APPLICATIONS MUST BE FULLY AND ACCURATELY COMPLETED. ❑ Has the preparer s gned the applicatlon? Q Has the entity corrected all prior year deficiencies as co mmunl=tsd by the OSA? ❑+ Has the application been PERSONALLY reviewed and approved by the governing body? ©+ Are all secllons on the form complete. including responses to all of the questions? ❑i Did you Include any relevant explanations for unusual Items In the appropriate spaces at the end of each section? ❑+ Will this application be subm tted electronically? ❑✓ If yes, have you read and understood the Electronic Signature Policy % See policy In Part 11. .ter.. I] N yea have you Included a resolutlon? ❑+ Does the resolution state that the governing body PERSONALLY reviewed and approved the resolution in an open public meeting? ❑+ Has the resolution been signed by a MAJORITY of the governing body? ISee sample resolution at the end of th a loan % ❑ Will this application be submitted via a mail son,"? le.g. US Post Office. FedEx. UPS courier.) 171 If yes. does the application nclude ORIGINAL INK SIGNATURES from the MAJOR frY of the govern ng body] httD:llwww.lexisnexis.comthonoDics/Coloradol Check out our web portal. Register your account and submit electronic Applications for Exemption From Audit, Extension of Time to File requests, Audited Financial Statements, and morel See the link below: Click here to qo to the portal Register and submit your Applications at our web portal! For faster processing the web portal is the preferred method for submission WEB PORTAL: httos:11anos.lea.co.aov1osa1Iq MAIL: Office of the State Auditor Local Government Audit Division 1525 Sherman St., 7th Floor Denver, CO 80203 Please Note: The OSA's email addresses have changed as of December 1. 2023 Please ensure you are using the email address noted below. QUESTIONS? Email: osa.lg@coleg.gov OR Phone; 303.869-3000 SHORT FORM NAME OF GOVERNMENT IVall Local Housing Authority For the Year Ended ADDRESS 175 S Frontage Road 12131124 jVait, CO 81657 or fiscal year ended: I CONTACT PERSON jJake Shipe PHONE 970479-2113 EMAIL ljshipe vail.gov I certify that I am skilled in governmental accounting and that the information in the application is complete and accurate, to the best of my knowledge. NAME: Jake Shipe TITLE Budget Manager FIRM NAME (if applicable) ADDRESS 75 S Frontage Road Vail, CO 81657 PHONE 970-479-2113 TIC 2925 Please indicate whether the following financial information is recorded I GOVERNMENTAL PROPRIETARY (MODIFIED ACCRUAL BASIS) (CASH OR BUDGETARY BASIS) using Governmental or Proprietary fund types - -- -- 2-1 Taxes: Property (report mills levied in question 10.7) I $ - I 2-2 Specific ownership 1 $ - 2-3 Sales and use 1 $ - 2-4 Other (specify): I $ - 2-5 Licenses and permits 1 $ - 2-6 Intergovernmental: Grants I $ - 2-7 Conservation Trust Funds (Lottery) I $ - 2-8 Highway Users Tax Funds (HUTF) ! $ - 2-9 Other (specify): $ - 2-10 Charges for services $ 18,382 2-11 Fines and forfeits J $ - 2-12 Special assessments $ - 2-13 Investment income $ 15,755 2-14 Charges for utility services $ - 2-15 Debt proceeds (should agree to table 44, column 'Issued during year') $ - 2-16 Lease proceeds $ 35,000 2-17 Developer Advances received (should agree to table 44, column 'Issued during year') $ - 2-18 Proceeds from sale of capital assets $ - 2-19 Fire and police pension j $ - 2-20 Donations 1 $ - 2-21 Other (specify): Revenue Share I $ 3,200 I 2-22 1 $ - I 2-23 1 $ - 2-24 I $ - 2-25 $ - 2-2fi • ' 3-1 Administrative $ - 3-2 Salaries $ - 3-3 Payroll taxes $ - 34 Contract services $ _ _ 62,126 3-5 Employee benefits $ - 3.6 Insurance $ - 3-7 Accounting and legal fees $ 2,500 3-8 Repair and maintenance $ - 3-9 Supplies $ - I 3-10 Utilities and telephone $ - 3-11 FirelPolice $ - 3-12 Streets and highways $ - I 3-13 Public health { $ - E 3-14 Capital outlay 1 $ - I 3-15 Utility operations I $ - 3-16 Culture and recreation l $ - 3-17 Debt service principal (shou)d agree to table 44, column'Retired during year')l $ - 3-18 Debt service interest 1 $ - 3-19 Repayment of Developer Advance (should agree to table 44. Principal column 'Retired during year') $ 3-20 Repayment of Developer Advance Interest 1 $ - 3-21 Contribution to pension plan 1 $ - 3-22 Contribution to Fire & Police Pension Assoc. 1 $ - 3-23 Other (specify): Bank Fees 1 $ 150 3-24 Board Professional Development 1 $ 2,500 3-25 Miscellaneous 1 $ 1,202 3-26 $ - 3-27 $ - 3-28{:.....:.�...���..... ;,���i•�r_,.�.a..r.�•.r�azy�,.a.�..a., t: 4-1 Does the entity have outstanding debt? p 0 (If No' is checked, skip to question 4-5) (it 'Yes' is checked, please attach a copy of the entity's debt repayment schedule) 4-2 Is the debt repayment schedule attached? If no, MUST explain below: ❑ I l 4-3 Is the entity current in its debt service payments? If no, MUST explain below: Li uj I I 4-4 General obligation bonds I $ - $ - $ - $ - f Revenue bonds $ - $ - $ - $ NotestLoans $ - $ - $ - $ Lease & SBITA' Liabilities {GASB 87 & 96] $ - $ - $ $ Developer Advances $ - $ - $ $ Other (specify): $ - $ - $ - $ - • $ - $ - $ $ —Subseriptr'on43ased information Technology Arrangements 'Must agree to prior Year-end balance 4-5 boxes.Please answer the following questions by niarking the appropriate Does the entity have any authorized but unissued debt as of its fiscal year-end? ' How much? $ Date the debt was authorized: mew 4-6 Is the authorized but unissued debt further limited by the entity's most recent Service Plan? J ❑ If yes: How much? $ Date of the most recent Service Plan: li 4-7 Does the entity intend to issue debt within the next calendar year? ❑ 0 If yes: How much? 1 $ 4-8 Does the entity have debt that has been refinanced that it is still responsible for? ❑ 0 If yes: What is the amount outstanding? $ - 4-9 Does the entity have any lease agreements? ❑ p If yes: What is being leased? What is the original date of the lease? Number of years of lease? Is the lease subject to annual appropriation? ❑ What are the annual lease payments? $ Part 4 - Please use this space to provide any explanations/comments or attach separate documentation, if needed 5-1 YEAR-END Total of ALL Checking and Savings Accounts $ 398,774 5-2 Certificates of deposit $ - TOTAL DEPOSITS $ 398,774 5-3Y.i.':u:e nu.a�uira:r.w n rari uiar.:na:.Y:r.iam uu.aniuni� TOTAL $� TOTAL• INVESTMENTS $ 398,774 5.4 Please answer the following quesUons by inarking in the appropriate boxes. Yes Are the entity's investments legal in accordance with Section 24-75-601, et, No WA seq., C.R.S.? 5-5 Are the entity's deposits in an eligible (Public Deposit Protection Act) public P] t J depository (Section 11-10.5-101, et seq. C.R.S.)? Part 5 - If no, MUST use this space to provide any explanations 6-1 6-2 6-3 Does the entity have capital assets? (if 'No' is checked, skip the rest of Part 6) Has the entity performed an annual inventory of capital assets in accordance with Section 29- ❑ 1-606, C.R.S.,? If no, MUST explain: I Buildings $ $ $ $ - J Machinery and equipment $ $ $ $ Furniture and fixtures $ $ $ $ - Infrastructure $ $ - $ $ Construction In Progress (CIP) $ $ - $ $ Leased & SBITA Right -to -Use Assets F$- $ - $ $ Other (explain): $ $ - $ $ Accumulated Depreciation/Amortization $ - $ - $ )Please enter a negative, or credlt, balanced $ - $ - $ - $ - $ - 'Must agree to prior year-end balance ^Generally capita asset additions should be reported as capital outlay on line 3.14 and capitalized in accordance with the government's capitalization policy - Please explain any discrepancy Part 6 - Please use this space to provide any explanations/comments or attach documentation, if needed 7-1 Does the entity have an "old hire" firefighters' pension plan? U 7-2 Does the entity have a volunteer firefighters' pension plan? ❑ If yes. Who administers the plan? I Indicate the contributions from: Tax (property, SO, sales, etc.): $ - State contribution amount: $ - Other (gifts, donations, etc.): $ - mms• $ - What is the monthly benefit paid for 20 yearso f service per retiree as of Jan I $ 1? Part 7 - Please use this space to provide any explanations or comments $M1 Did the entity file a budget with the Department of Local Affairs for the current Q 0 year in accordance with Section 29-1-113 C.R.S.? If no, MUST explain: I 8-t Did the entity pass an appropriations resolution, in accordance with Section 29-1-108 C.R.S.? If no, MUST explain: I if yes: Please indicate the amount appropriated for each fund separately for the year reported (Please make sure each individual fund's appropriation agrees to how the budget was adopted. Do not combine funds) Vail Local Housing Authority 162.370.00 9-1 Is the entity in compliance with all the provisions of TABOR [State Constitution, Article X, R f Section 20(5)]? Note: An electron to exempt the entity from the spending limitations of TABOR does not exempt the entity from the 3 percent emergency reserve requirement All entities should determine if they meet this requirement of TABOR. Part 9 - If no, MUST use this space to provide any explanations If yes: Date of formation: 10-2 Has the entity changed its name in the past or current year? If yes: Please list the NEW name: Please list the PRIOR name: 10.3 Is the entity a metropolitan district? 10-4 Please indicate what services the entity provides: I 0 10-5 Does the entity have an agreement with another government to provide services? If yes: List the name of the other governmental entity and the services provided: ITown of Vail: Accounting Services 1 10-6 Has the district filed a Title 32, Article 1 Special District Notice of inactive Status during the year? [Applicable to Title 32 special districts only, pursuant to Sections 32-1-103 (9.3) and 32- 1-104 (3). C.R.S.] If yes: Date filed: 10-7 Does the entity have a certified mill levy? If yes: Please provide the following mills levied for the year reported (do not report $ amounts). 0 L 0 Bond redemption mills _ General/other mills _ 10-8 If the entity is a Title 32 Special District formed after 7/112000, has the entity filed its preceding year annual report with the State Auditor as required under SB 21-262 [Section 32-1-207 C.R.S.]? If NO, please explain. I I Please use this space to provide any additional explanations or comments not previously included - E 11-1 If you plan to submit this form electronically, have you read the Electronic Signature Policy? 0 ❑ Office of the State Auditor — Local Government Division - Exemption Form Electronic Signature Policy and Procedure Policv - Requirements The Office of the State Auditor Local Government Audit Division may accept an electronic submission of an application for exemption from audit that includes governing board signatures obtained through a program such as Docusign or Echosign. Required elements and safeguards are as follows: • The preparer of the application is responsible for obtaining board signatures that comply with the requirement in Section 29-1-604 (3), C.R.S., that states the application shall be personally reviewed, approved, and signed by a majority of the members of the governing body. - The application must be accompanied by the signature history document created by the electronic signature software. The signature history document must show when the document was created and when the document was emailed to the various parties and include the dates the individual board members signed the document. The signature history must also show the individuals' email addresses and IP address. • Office of the State Auditor staff will not coordinate obtaining signatures. The application for exemption from audit form created by our office includes a section for governing body approval. Local governing boards note their approval and submit the application through one of the following two methods: 1) Submit the application in hard copy via the US Mail including original signatures. 2) Submit the application electronically via email and either, a. Include a copy of an adopted resolution that documents formal approval by the Board, or b. Include electronic signatures obtained through a software program such as Docusign or Echosign in accordance with the requirements noted above. Print or type the names of ALL members of current governing body below. A MAJORITY of the members of the governing body must sign below. I attest that I am a duly elected or appointed board member, and that I have personally reviewed and approved this application for exemption from audit. 'Signature My term expires: 05/31/2025 I attest that I am a duly elected or appointed board member, and that I have personally reviewed and approved this application for exemption from audit. My term expires: 05131/2026 Date Steve Lindstrom 3- t(�zoz5 Dan Godec Signature_ �� ax� Date 3 ' ' a 13 I attest that I am a duly elected or appointed board member, and that I have personally reviewed and approved this application for exemption from audit. Signature My term expires: 05/3112027 I attest that I am a duly elected or appointed board member, and that I have personally reviewed and approved this application for exemption from audit. My term expires: 05/3112028 I attest that I am a duly elected or appointed board member, and that I have personally reviewed and approved this application for exemption from audit. My term expires: 05/31/2029 Date Signature J, Date Craig Denton Kristin Kenn4Williams Christine Santucci Signatu a j �1 Date I attest that I am a duly elected or appointed board member, and that I have personally reviewed and approved this application for exemption from audit. Signature My term expires: Date I attest that i am a duly elected or appointed board member, and that I have personally reviewed and approved this application for exemption from audit. Signature My term expires: Date