TOWN OF  SUGAR CITY  2024  BUDGET  1    TOWN OF SUGAR CITY'S  2024 BUDGET  TABLE OF CONTENTS  BUDGET MESSAGE  PAGE 3 PAGE 6 PAGES 7-9 PAGES 10-12 PAGES 13-17  CERTIFICATION OF MILL LEVY  RESOLUTIONS DEBT SERVICE FUNDS DETAIL  2    Town of Sugar City 205 Colorado PO Box 60 Sugar City, CO81076  February 21, 2024  DIVISION OF LOCAL GOVERNMENT 1313 SHERMAN STREET ROOM 521 DENVER, CO 80203 To Whom It May Concern:  Enclosed is the 2024 budget of the Town of Sugar City in Crowley County, submitted pursuant The budget process begins in August of each year. After careful consideration oft the Town's resources and the needs for service, a proposed budget is prepared for presentation to the Town council. The Town Council considers the proposed budget at a work session and a public hearing before it's adoption. The budget serves as a plan to manage the Town's revenue and Appropriations are adopted by resolution for each fund in total. All Appropriations lapse ata year-end. Supplemental appropriations are adopted by resolution when at fund is in risk of over The mill levy for the Town of Sugar City was certified at 20.321. Based on an assessed valuation ofs 921,586 the property tax revenue is subject to a statutory limitation of $16,244.00 and The Town is considered al low-income community. The primary sources of funding for the Town of Sugar City are fees charged to customers for water, sewer, and sanitation. Other sources of Some oft the Town's objectives and the important features of the budget in 2024 are as follows. 1. Provide safe drinking water by maintaining necessary water tests, maintain staff 2. Proved safe disposal of wastewater-by maintaining the collection system in excellent 3. Provide sage disposal of sanitation by using our own trash collection service. 4. Provide effective management to Town resources by providing service in a cost- The budgetary basis of accounting used is modified accrual basis for the General, Conservation Trust and Road & Bridge Funds. The Water, Sewer and Trash Funds use the non-GAAP  to Section 29-1-266 CRS. This budget was adopted on February 21, 2024.  expenditures throughout the year.  expenditure.  increase of 5.5% beyond the property tax revenue is being requested.  income are the Sugar City Disposal run by the Town of Sugar City.  certification and monitor water tank. conditions to meet the State BOD requirements.  effective manner.  budgetary basis of accounting.  3    Ifthere are any questions on the budget, please contact Davida Moreland at (719)267-3729or Ihereby certify that the enclosed are true and accurate copies oft the Town's adopted 2022  at 205 Colorado/PO Box 60, Sugar City, Colorado 81076  budget.  Sincerely,  Davida Moreland Sugar City Town Treasurer  4    Town of Sugar City NOTICE OF BUDGET  Notice is hereby given that a proposed budget has been submitted to the Board of Trustees, town of Sugar City for the ensuing year of 2024, a copy of such proposed budget has been filed in the office of the Town Clerk, where same is open for public inspection; such proposed budget will be considered at the monthly meeting of the Board of Trustees, Town of Sugar City, to be held at 7:00 p.m. on January 24, 2024, Sugar City Town Hall. Any interested elector of such town may inspect the proposed budget and file or register any objections thereto  at any time prior to the final adoption of the budget.  Davida Moreland Town Treasurer  5    TOWN OF SUGAR CITY 205 COLORADO POBOX60 SUGAR CITY, CO81076  February 21, 2024  CROWLEY COUNTY ASSESSOR CROWLEY COUNTY COURTHOUSE  603 MAIN ORDWAY, CO 81063  To County Commissioners of Crowley County, Colorado  This is to certify that the tax levy to be assessed by you upon all property within the limits of the Town of Sugar City, based on a total assessed valuation of $921,586.00 for the year 2022, as determined and fixed by the board of Trustees  on. July 20, 2022 is:  General Operating expenses - 20.321 Mills - 18,727.00  Totals  20.321 Mills - 18,727.00  You are hereby authorized and directed to extend said levy upon your tax list.  IN WITNESS WHEREOF, Ihave hereunto set my hand and affixed the seal of the  Town of Sugar City, Colorado, this 21th day of February 2024.  DA M  John Del  hhn  6    RESOLUTION #2024-02 TO ADOPT 2024 BUDGET  A resolution summarizing revenues and expenditures for each fund and adoption of a budget for the Town of Sugar City, Colorado for the calendar year beginning on the first day of. January 2024 and ending the last day of December 2024. Whereas, The Board of Trustees of the Town of Sugar City have appointed Davida Moreland, Town Treasurer to prepare and submit a budget to said governing Whereas, upon due and proper notice, published or posted in accordance with the law, said proposed budget was open for inspection by the public at the designated place, Town Hall, and a public hearing was held on January 24, 2024 and interested tax payers were given the opportunity to file or register any Whereas, the budget remains in balance as required by law. That estimated  body on. January 24, 2024 for its consideration: and:  objections to said budget: and;  revenues and expenditures for each fund are as follows:  GENERAL FUND Taxes Licenses & Permits Charges for Services Fines Water Share Lease Cemetery Income Total Revenue General Expenses Public Safety Expenses Expenditure Total CONSERVATION TRUST FUND Revenue Total Expenditure Total  $340.00 $1,200.00 $500.00 $0.00 $9,000.00 $200.00 $23,652.00  $23,052.00 $00.00 $23,052.00  $84.00  $4650.00  7    ROAD & BRIDGE FUND Revenue Total Expenditure Total WATER FUND Revenue Total Expenditure Total SEWER FUND Revenue Total Expenditure Total TRASH FUND Revenue Total Expenditure Total  $15,600.00  $15,620.00  $171,778.00  $168,500.00  $58,296.00  $66,780.00  $699,800.00  $606,535.00  Whereas, the budget as submitted, amended and herein above summarized by funds, hereby is approved and adopted as the budget of the Town of Sugar City Whereas, the budget hereby approved and adopted shall be signed by the mayor and Town Treasurer and made a part of the public records of the Town of Sugar  for the year stated above.  City.  Adopted the 21st of February 2024  urdorslod  Town Treasurer  layo  8    RESOLUTION TO SET MILL LEVIES 2024-03  A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 2024 TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE TOWN OF SUGAR CITY,  COLORADO FOR THE 2024 BUDGET YEAR.  WHEREAS, the Board of Trustees for the Town of Sugar City has adopted the annual budget in accordance with the Local Government Budget Law, on February WHEREAS, the amount of money necessary to balance the budget for general WHEREAS, the 2024 valuation for assessment for the Town of Sugar City as Section 1. That the purpose of meeting all general operating expenses of the Town of Sugar City during the 2024 budget year, there is hereby levied at tax of 20.321 mills upon each dollar of the total valuation for assessment for all taxable  21, 2024 and:  operation expenses is $61,848.00 and,  certified by the County Assessor is $921,586.00.  property within the Town for 2024.  ADOPTED, the 21st day January, A.D. 2024.  Dr  mmb.-g7h.dl  Davida Moreland, Town Treasurer  9    LONG - TERM DEBT- SEWER FUND #1  In 2006 the Town received a $306,000 CWRPDA loan to upgrade the wastewater lagoons. The loan has a 20-year term and accrues interest at 0%. Semi-annual payments are due May 1stand  November 1st of every year. The first payment was due on May 1, 2007.  Future debt requirements are as follows:  Date 2024 2025 2026 2027 TOTAL PAYABLE  Principal $15,300.00 $15,300.00 $15,300.00 $15,300.00 $61,200.00  10    LONG - TERM DEBT - SEWER FUND #2  In 2009 the Town received a $65,000.00 CWRPDA loan to complete the existing wastewater project. The loan has a 20-year term and accrues interest at 0%. Semi-annual payments are due May 1st and November 1st of every year. The first payment was due on May 15t, 2009.  Future debt requirements are as follows:  Date 2024 2025 2026 2027 2028 TOTAL PAYABLE  Principal $2,546.00 $2,546.00 $2,546.00 $2,546.00 $2,546.00 $12,730.00  11    LONG- TERM DEBT - WATER FUND #1  On. July 1st, 2004, the Town of Sugar Cityi issued Water Revenue Bonds for the purpose to acquire and develop certain properties and facilities for the collection, treatment, transmission, and disposition of water. The bond is payable to USDA, Rural Development on. January 1stand  July 1st of every year with interest at 4.25%. Future debt requirements are as follows:  Date 2024 2025 2026 2027 2028- 2030 2031-2035 2036-2040 2041-2044 TOTAL  Principal $7,296.00 $7,530.00 $8,566.20 $8,566.20 $25,698.60 $42,831.00 $42,831.00 $34,264.80 $177,583.80  Interest $10,146.00 $9,912.00 $8,875.80 $8,875.80 $26,627.40 $44,379.00 $44,379.00 $35,503.20 $188,698.20  Total $17,442.00 $17,442.00 $17,442.00 $17,442.00 $52,326.00 $87,210.00 $87,210.00 $69,768.00 $366,282.00  12    LONG - TERM DEBT - TRASH FUND #1  On May 5th, 2021, the Town of Sugar City received a $208,095.00 KS StateBank loan to purchase 2020 Peterbilt 348 LR64 Trash Truck. The loan has a 7-year term and accrues interest at 3.380%. Annual payments are due May 17th of every year. The first payment was due on May 17th, 2021  Future debt requirements are as follows:  Date 2022 2023 2024 2025 2026 2027  Principal $26,846.94 $27,754.36 $28,692.46 $29,662.26 $30,664.85 $31,701.31  Interest $5,925.88 $5,018.46 $4,080.36 $3,110.56 $2,107.97 $1,071.51  Total $32,772.82 $32,772.82 $32,772.82 $32,772.82 $32,772.82 $32,772.82  13    LONG- - TERM DEBT - TRASH FUND #2  On November 21, 2023, the Town of Sugar City received a $189,395.00 KS StateBank loan to purchase 2024 Freightliner M2 Cummins Trash Truck. The loan has a 5-year term and accrues interest at 3.380%. Annual payments are due May 5th of every year. The first payment was due  on November 215t, 2023  Future debt requirements are as follows:  Date 2023 2024 2025 2026 2027  Principal $42,492.06 $42,494.06 $42,492.06 $42,492.06 $42,492.06  Interest $0.00 $8,961.08 $6,915.69 $4,745.53 $2,443.00  Total $42,492.06 $33,530.98 $35,576.37 $37,746.53 $40,049.06  14    Checking Account Name GENERAL TRASH METER DEPOSITS FACILITY MAINTENANCE WATER SHARES WATER PROJECT SEWER PROJECT CONSERVATION TRUST  2024 Amount $71,884.26 $45,006.70 $17,870.55 $46,681.09 $23,494.40 $91.66 $942.89 $1,486.95 $227,458.50  TOTAL  Saving Account Name SEWER/WATER ROAD & BRIDGE CONSERVATION TRUST  2023 Amount $5,703.21 $4,226.46 $12,260.47 $22,190.14  TOTAL  Investment INVESTMENT (Landfill)  $6,002.35