Notice of Financial Information Pursuant to 1-7-908, C.R.S.
NOTICE OF FINANCIAL INFORMATION FOR
DOUGLAS COUNTY SCHOOL DISTRICT, NUMBER RE1
Douglas and Elbert Counties, Colorado
At the election to be held on November 7, 2023, Douglas County School District, Number Re1, Douglas and Elbert Counties (the “District”) is submitting one ballot issue concerning the creation of debt or financial obligation.
Pursuant to §1-7-908(1) C.R.S., the following financial information is provided:
I. District’s Ending General Fund Balance by Fiscal Year
| Fiscal Year | Ending Balance |
| 2023-2024 (projected) | $154,900,614 |
| 2022-2023 (unaudited) | $156,068,066 |
| 2021-2022 (audited) | $152,766,801 |
| 2020-2021 (audited) | $130,969,479 |
| 2019-2020 (audited) | $103,298,507 |
II. Total Revenues In and Expenditures From the District’s General Fund by Fiscal Year
| Fiscal Year | Revenues In | Expenditures From |
| 2023-2024 (projected) | $807,379,286 | $808,546,738 |
| 2022-2023 (unaudited) | $738,941,568 | $735,640,303 |
| 2021-2022 (audited) | $714,752,428 | $692,955,106 |
| 2020-2021 (audited) | $641,331,534 | $613,660,562 |
| 2019-2020 (audited) | $692,280,272 | $676,362,942 |
III. Amount Incurred by the District for Cash Flow Purposes – by Fiscal Year
(Debt or other Financial Obligation with not more than one year term)
| Fiscal Year | Cash Flow Borrowings |
| 2023-2024 (projected) | $15,000,000 |
| 2022-2023 (unaudited) | $ 4,182,493 |
| 2021-2022 (audited) | $ 5,179,000 |
| 2020-2021 (audited) | $29,925,000 |
| 2019-2020 (audited) | $32,074,000 |
IV. The District’s Emergency Reserve Required by § 20(5) of Article X of the Colorado Constitution
has been Fully Funded by Cash or Investments for the following Fiscal Years
| Fiscal Year | Emergency Reserve Held in General Fund |
| 2023-2024 (current) | $24,142,124 Fully Funded |
| 2022-2023 (unaudited) | $20,160,200 Fully Funded |
| 2021-2022 (audited) | $17,561,600 Fully Funded |
| 2020-2021 (audited) | $15,865,400 Fully Funded |
| 2019-2020 (audited) | $17,311,000 Fully Funded |
V. District’s Ending Bond Redemption Fund Balance by Fiscal Year
| Fiscal Year | Ending Balance |
| 2023-2024 (projected) | $81,342,876 |
| 2022-2023 (unaudited) | $77,167,416 |
| 2021-2022 (audited) | $63,480,642 |
| 2020-2021 (audited) | $71,813,488 |
| 2019-2020 (audited) | $67,613,197 |
VI. Total Revenues In and Expenditures From the District’s Bond Redemption Fund by Fiscal Year
| Fiscal Year | Revenues In | Expenditures From |
| 2023-2024 (projected) | $57,148,726 | $52,973,266 |
| 2022-2023 (unaudited) | $56,390,824 | $42,704,050 |
| 2021-2022 (audited) | $65,722,003 | $74,054,849 |
| 2020-2021 (audited) | $60,136,372 | $55,936,081 |
| 2019-2020 (audited) | $59,276,574 | $53,496,425 |
VII. Any person may review the District’s
- audited Financial Statements for the last four Fiscal Years,
- any Management Letters made public and provided to the District by the District’s Auditors for the last four Fiscal Years, and
- the Budget for the current Fiscal Year at the following location:
Douglas County School District, Number Re1
620 Wilcox Street
Castle Rock, CO 80104
Telephone: (303) 387-0100