HomeMy WebLinkAbout2015-01 VLHA Exemption from 2014 Audit RESOLUTION NO. 1, SERIES OF 2015
A RESOLUTION APROVING AN EXEMPTION FROM AUDIT FOR THE FISCAL
YEAR 2014, 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 2014; and
WHEREAS, an application for exemption from audit for the Vail Local Housing
Authority has been prepared by Kathleen Halloran, 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 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, 2014,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, 2014.
ADOPTED THIS 2.1"/"DAY OFAAQ , 2015.
ATTES. . S GNED:
�•.
Chairman S'cretary
RESOLUTION NO. 1, SERIES OF 2015
Members of Board Date Term Expires Signature
Mary McDougall 05/2016
Scott Ashburn 05/2017
5
Craig Cohn 06/2018
_
James Wilkins 06/2019
Steve Lindstrom 06/2015 dOPP-
RESOLUTION NO. 1, SERIES OF 2015
Applying for Exemption from Audit
In accordance with 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 revenues or expenditures for the year are not more than$500,000. This means that neither revenue nor expenditures can exceed$500,000
in the year.
General Instructions READ ALL INSTRUCTIONS BEFORE COMPLETING OR SUBMITTING THIS FORM
Exemptions from audit are not automatic.Every year,in order to be exempt from audit,the local government must complete an Application for
Exemption from Audit and submit it to the Office of the State Auditor.An exemption from audit is only granted upon the review and approval of
the Office of the State Auditor.
The application must be received and filed with the Office of the State Auditor within 3 months after the end of the year.The application must be
received in our office on or before March 31 for governments with a December 31 year-end. POSTMARK DATES WILL NOT BE
CONSIDERED.
The appropriate version of the Application for Exemption from Audit must be used.
Prior years'forms are obsolete and will not be accepted. Applications submitted on forms other than those prescribed by the State Auditor will
also not be accepted.
The application must be fully and accurately completed.
Please include any relevant explanations for unusual items in the appropriate spaces at the end of each section.
The preparer must sign the application.
The application must be personally reviewed and approved by the governing body.Approval is evidenced by one of the following two methods:
1) If the completed application is going to be submitted electronically using email or fax,the application MUST include a resolution of the
governing body that states the completed application was personally reviewed and approved by a majority of the body in an open public meeting.
The resolution MUST include the signatures of a majority of the governing body(see sample resolution).
2) If the completed application is going to be submitted though postal mail(U.S.Post Office,UPS,FedEx),the application must include the
original ink signatures of a majority of the governing body.
USE ONLY ONE OF THE ABOVE METHODS WHEN FILING THE APPLICATION.
The mailing address is:
Office of the State Auditor
Local Government Audit Division
1525 Sherman St.,7th Floor
Denver,CO 80203
The fax number is: (303)869-3061
The e-mail address is:OSA.LG@state.co.us
Two forms are available:
1) The"short form"should be submitted if both revenues and expenditures are less than or equal to$100,000. A preparer of the short form
must be a person skilled in governmental accounting.
2) The"long form"should be submitted if either revenues or expenditures are greater than$100,000 but are less than or equal to$500,000. A
preparer of the long form must be an independent accountant with knowledge of governmental accounting.
Please call(303)866-3338 if you need help completing the Application for Exemption from Audit forms.
Important: All Applications for Exemption from Audit are subject to review and approval by the Office of the State Auditor. Failure to
file an application or denial of the request could cause the local government to lose its exemption from audit for that year and the ensuing
year. In that case,an audit shall be required.
We Moved!
1525 Sherman St., 7th Floor
Denver, CO 80203
303-869-3000
Page 1
APPLICATION FOR EXEMPTION FROM AUDIT - SHORT FORM - FOR GOVERNMENTS WITH REVENUES
AND EXPENDITURES OF $100,000 OR LESS
Name of Government: Vail Local Housing Authority For the Year
Address: 75 S. Frontage Rd Ended December 31, 2014
Vail, CO 81657 or fiscal year ended:
Contact Person: Kathleen Halloran
Telephone: 970-479-2116
Email: khalloran@vailgov.com
Fax: 970-479-2157
Return to: Office of the State Auditor
Local Government Audit Division PLEASE READ THE
1525 Sherman St., 7th Floor ABOVE INSTRUCTIONS
Denver, CO 80203 BEFORE SUBMITTING
Fax: 303-866-4062
Email: OSA.LG@state.co.us
Call (303)869-3000 if you need help completing this form.
Section 29-1-604, C.R.S., outlines the provisions for an exemption from audit. Generally, any local government for which
neither revenues nor expenditures exceed $500,000 in any year may qualify for an exemption.
If either revenues or expenditures are$100,000 or greater, but not more than $500,000,you may NOT use this
form. Please use the LONG FORM of this application. If both revenues and expenditures are less than $100,000
individually, use this short form application for exemption from audit.
Please review ALL instructions prior to the completion of this form.
Instructions:
1. Prepare this form completely and accurately. Please note that there are 11 parts to this form, and all questions
must be answered for the application to be considered complete.
2. File this form with the Office of the State Auditor within 3 months after the end of the year.
For years ended December 31, the form must be received by the Office of the State Auditor by March 31.
3. The form must be completed by a person skilled in governmental accounting.
4. The application must be personally reviewed and approved by a majority of the governing body as evidenced by one of
the following methods:
a. Resolution of the governing body- application may be emailed, faxed, or mailed.
b. Original signatures- application must be mailed. Email or fax will NOT be accepted.
5. The preparer must sign the application that is submitted in order for it to be accepted.
6. Additional information may be attached to the exemption at the preparer's discretion.
CERTIFICATION OF PREPARER
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: Kathleen Halloran
Title: Finance Director
Firm Name(if applicable):
Address:
Telephone Number:
Date Prepared: 01/19/2015
Preparer Signature (Required): The application will be rejected if not signed by the preparer.
Please indicate whether the following financial information is Governmental Proprietary
recorded using Governmental or Proprietary fund types
Page 2
PART 2 - REVENUE
REVENUE: All revenues for all funds must be reflected in this section,including proceeds from the sale of the government's land,building,and
equipment,and proceeds from debt or lease transactions. Financial information will not include fund equity information.
Line# Description (Omit cents)
2-1 Taxes: Property $ -
2-2 Specific ownership $ -
2-3 Sales and use $ -
2-4 Other(specify): $ -
2-5 Licenses and permits $ -
2-6 Intergovernmental:Grants $ -
2-7 Conservation Trust Funds(Lottery) $ -
2-8 Highway Users Tax Funds(HUTF) $ -
2-9 Other(specify): $ -
2-10 Charges for services $ 11,804
2-11 Fines and forfeits $ -
2-12 Special assessments $ -
2-13 Investment income $ 551
2-14 Charges for utility services $ -
2-15 Debt proceeds (should agree with line 4-3, column 2) $ -
2-16 Lease proceeds $ -
2-17 Developer Advances received (should agree with line 4-3) $ -
2-18 Proceeds from sale of capital assets $ -
2-19 Fire and police pension $ -
2-20 Donations $ -
2-21 Other(specify): $ -
2-22 $ -
2-23 $ -
2-24 (add lines 2-1 through 2-23) TOTAL REVENUE all sources $ 12,354
PART 3 - EXPENDITURES
EXPENDITURES: All expenditures for all funds must be reflected in this section,including the purchase of capital assets and principal and interest
payments on long-term debt. Financial information will not include fund equity information.
Line# Description (Omit cents)
3-1 Administrative $ -
3-2 Salaries $ -
3-3 Payroll taxes $ -
3-4 Contract services $ -
3-5 Employee benefits $ -
3-6 Insurance $ -
3-7 Accounting and legal fees $ 1,200
3-8 Repair and maintenance $ -
3-9 Supplies $ -
3-10 Utilities and telephone $ -
3-11 Fire/Police $ -
3-12 Streets and highways $ -
3-13 Public health $ -
3-14 Culture and recreation $ -
3-15 Utility operations $ -
3-16 Capital outlay (should agree with Part 6) $ -
3-17 Debt service principal (should agree with Part 4) $ -
3-18 Debt service interest $ -
3-19 Repayment of Developer Advances (should agree with line 4-3) $ -
3-20 Contribution to pension plan (should agree to line 7-2) $ -
3-21 Contribution to Fire& Police Pension Assoc. (should agree to line 7-2) $ -
3-22 Other(specify): $ -
3-23 $ -
3-24 $ -
3-25 (add lines 3-1 through 3-24) TOTAL EXPENDITURES all categories $ 1,200
Note: If Total Revenue(Line 2-24) or Total Expenditures(Line 3-25) are greater than $100,000 - STOP. You may
not use this form. Please use the "Application for Exemption from Audit - Long Form".
Page 3
PART 4 - DEBT OUTSTANDING, ISSUED, AND RETIRED
Please answer the following questions by marking the appropriate boxes. Yes No
4-1 Does the entity have outstanding debt? x
Is the debt repayment schedule attached'? If no, please explain:
4-2 Is the entity current in its debt service payments? If no, please explain:
A .
4-3 Please complete the following debt schedule, if applicable:
(please only include principal amounts) Outstanding at Issued during Retired during Outstanding at
end of prior year year year year-end
General obligation bonds $ - $ - $ - $
Revenue bonds $ - $ - $ _ $
Notes/Loans $ - $ - $ - $
Leases $ $ $ _ $ -
Developer Advances $ - $ - $ - $
Other(specify): $ - $ _ $ - $
Total: $ - $ - $ _ $ -
Please answer the following questions by marking the appropriate boxes. Yes No
4-4 Does the entity have any authorized, but unissued, debt? x
If yes: How much'? $ _ V
Date the debt was authorized: A
4-5 Does the entity intend to issue debt within the next calendar year'? x
If yes: How much? $ - / /// A
Please answer the following questions by marking the appropriate boxes. Yes No
4-6 Does the entity have debt that has been refinanced that it is still responsible for? x
If yes: What is the amount outstanding? $ v /A
Please answer the following questions by marking the appropriate boxes. Yes No
4-7 Does the entity have any lease agreements? x
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? $ fA
Please use this space to provide any explanations or comments:
4-8
PART 5 - CASH AND INVESTMENTS
Please provide the entity's cash deposit and investment balances. Amount Total
5-1 Checking accounts $ 669 r
5-2 Savings accounts $ 392,541
5-3 Certificates of deposit $ -
Total Cash Deposits ���� $ 393,210
Investments ���7
(if investment is a mutual fund, please list underlying investments): JJ�
5-4 $ - /./
5-5 $ _
5-6 $ _ /
5-7 $ - /f
Total Investments
Total Cash and Investments $ 393,210
Please answer the following question by marking in the appropriate box Yes No
5-8 Are the entity's deposits in an eligible(Public Deposit Protection Act) public depository(Section 11-10.5- x
101, et seq. C.R.S.)? If no, please explain:
Please use this space to provide any explanations or comments:
5-9
Page 4
PART 6 - CAPITAL ASSETS
Please answer the following questions by marking in the appropriate boxes. Yes No
6-1 Does the entity have capital assets? x
If yes: Has the entity performed an annual inventory of capital assets in accordance with Section 29-1-506,
C.R.S.,? If no, please explain: ��/��� A
Complete the following table: Balance- Year-End
beginning of the Additions Deletions Balance
year
Land $ -
$ _ $ $
-
-
Buildings $ - $ $ - $
Machinery and equipment $ - $ $ - $ --
Furniture and fixtures $ - $ $ $ _-
Construction In Progress(CIP) $ - $ - $ $ _
Other(explain): $ $ $ $
-
Accumulated Depreciation $ - $ - $
Total
use this space to provide any explanations or comments: S
Please ////////////////////////////�/// /A
6-2
PART 7 - PENSION INFORMATION
Please answer the following questions by marking in the appropriate boxes. Yes No
7-1 Does the entity have an"old hire"firemen's pension plan? x
7-2 Does the entity have a volunteer firemen's pension plan? x
If yes: Who administers the plan? v7,-
Indicate
Indicate the contributions from: /jj���j/
Tax(property, SO, sales, etc.): $ - / �j�
State contribution amount: $ -
Other(gifts, donations, etc.): $ - ///
Total: $ - / / ///
What is the monthly benefit paid for 20 years of service per retiree as of Jan 1? $ - /./A
Please use this space to provide any explanations or comments:
7-3
PART 8 - BUDGET INFORMATION
Please answer the following questions by marking in the appropriate boxes. Yes No
8-1 Did the entity file a budget with the Department of Local Affairs for the current year? If no, please x
A
8-2 Did the entity pass an appropriations resolution? In no, please explain:
If yes: Please indicate the amount appropriated for each fund for the year: j / j/
Fund Name Budgeted Expenditures
V/ /
Please use this space to provide any explanations or comments:
8-3
Page 5
PART 9 - TAX PAYER'S BILL OF RIGHTS (TABOR) IJ
Please answer the following question by marking in the appropriate box Yes No
9-1 Is the entity in compliance with all the provisions of TABOR [State Constitution,Article X, Section 20(5)]? x
r
Note: An election to exempt the government from the spending limitations of TABOR does not exempt the government
from the 3 percent emergency reserve requirement. All governments should determine if they meet this requirement of
TABOR.
Please use this space to provide any explanations or comments:
9-2
PART 10 - GENERAL INFORMATION
Please answer the following questions by marking in the appropriate boxes. Yes No
10-1 Is this application for a newly formed governmental entity? x
If yes: Date of formation: // lA
10-2 Has the entity changed its name in the past or current year? x
If Yes: Please list the NEW name& PRIOR name:
10-3 Is the entity a metropolitan district?
10-4 Please indicate what services the entity provides:
10-5 Does the entity have an agreement with another government to provide services? x
If yes: List the name of the other governmental entity and the services provided:
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.] x
If yes: Date Filed: �/ff�������f�ff������������A
10-7 Please use this space to provide any explanations or comments:
Page 6
Il PART 11 - GOVERNING BODY APPROVAL
Below is the certification and approval of the governing board. By signing the board member is certifying they are a duly elected or appointed officer of the local government.
Governing board members may be verified.Also by signing,the board member certifies that this Application for Exemption from Audit has been prepared consistent with Section 29-1.
604,C.R.S.,which states that a governmental agency with revenue and expenditures of$100,000 or less must have an application prepared by a person skilled in governmental
accounting;completed to the best of their knowledge and is accurate and true. Use additional pages if needed.
Print the names of all current A MAJORITY of the governing board members must complete and sign in the column
Print Board Members Name I , attest I am a duly elected or appointed
\/ Li 1- 6Yvt� board member and I have -v.-wed and approve the application for exemption
Board from audit. -
Member
Signed Date:
My
term Expires: D(072.0i;-
Print Board Members Name I , attest I am a duly elected or appointed
Board
MOrti
NAGQouty ll board member and I have reviewed and approve the application for exemption
Member from audit.
2 Signed Date:
My
term Expires: C)(o I to
Print BoardMembersName I , attest I am a duly elected or appointed
Board
�vl
e-> ` urvi board member and I have reviewed and approve the application for exemption
from audit. 5-Alz(
Member
3 Signed Date:
My
term Expires: 0 ev Zb
Print Board Members Name I ` attest I am a duly elected or appointed
Cy '. c CD v, board IeAlta-rA:joha a reviewed and approve the application for exemption
Board J !•I:�!
Member from auri.11'
4 Signed Date:
My
term Expires: OL, rz,c)(4?)
A Print Board Members Name I , attest I am a duly elected or appointed
,
Board `LtYl6 W{lVA/1Gaudit.
rom j .-7
board member and I have revi wed and approve the application for exemption
Member ((�,,.✓//
5 Signed ~`�
Date:
My
term Expires: 06 Z011
Print Board Members Name I , attest I am a duly elected or appointed
board member and I have reviewed and approve the application for exemption
Board
from audit.
Member
6 Signed Date:
My
term Expires:
Print Board Members Name I , attest I am a duly elected or appointed
board member and I have reviewed and approve the application for exemption
Board from audit.
Member
7 Signed Date:
My
term Expires:
Page 7