Copper Mountain district reports $910,000 asset decrease; FY26 expenses forecast $3.2M under budget
Summary
Clerk-Treasurer Carolyn Russo reported assets decreased by $910,000 (AR down $796,000, cash down $114,000); FY26 revenue is forecasted down $365,600 while FY26 expenses are forecasted $3.2 million under budget, largely due to WWTP project timing.
Carolyn Russo, the district’s clerk-treasurer, told the board that the statement of net position showed assets decreased by $910,000 compared with April 2026, driven primarily by a $796,000 drop in accounts receivable and a $114,000 decrease in cash. She reported year-to-date revenue was $62,000 lower than the prior year because of reduced interest income, partially offset by an $18,200 increase in condo rental income and $100,000 of SFE lease revenue not originally in the budget.
Russo said the FY26 forecast projects total revenue down by $365,600 primarily from lower interest income ($500,000) and lower water/sewer fees, while expenses are forecast to be $3.2 million under budget—most of that underrun tied to timing related to the Wastewater Treatment Plant project. She told the board that moving forward summary slides will be prepared to streamline presentation of the financial documents prepared by the CPAs.
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