CTF Questions/Answers and Expenditures
Account Questions
Definitions
Expenditures and
Project Codes
Account Questions
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Question: Does the CTF money have to be kept in a separate bank account or can we separate the funds with a separate line item or account in the general ledger?
Answer: As long as procedures are in place to accurately track the beginning and ending annual balances, expenditures and deposits of the conservation trust fund and the appropriate interest is applied to the fund, the CTF money can be kept as a separate line item or account on the general ledger.
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Question: If I do have a separate bank account for our CTF money, can I pay my bank fees for that account with money from the conservation trust fund?
Answer: Yes, this is considered a necessary cost of doing business.
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Question: Can I show a negative balance in my CTF account at the end of the year?
Answer: Deficit spending on any fund is not allowable by Colorado Local Government Budget Law. You will need to start every year with a balance of zero or more.
- Question: What if my beginning balance is different than my previous year's ending balance due to a correction necessitated by our annual audit?
Answer: Please be sure to attach a reconciliation or an audited financial statement and a brief explanation for your conservation trust fund when you submit your status report.
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Definitions
"Eligible Entity" means a county, municipality, or special district which has created a conservation trust fund pursuant to this section and which has certified to the department of local affairs that is has created such fund.
"New Conservation Sites" means interest in land and water, acquired after establishment of a conservation trust fund pursuant to this section, for park or recreation purposes, for all types of open space, including but not limited to flood plains, greenbelts, agricultural lands, or scenic areas, or for any scientific, historic, scenic, recreational, aesthetic, or similar purpose.
"Interests in land and water" means any and all rights and interests in land or water, or both, including fee interests and less than full fee interests such as future interest, development rights, easements, covenants, and contractual rights. Every interests in land or water may be in perpetuity or for a fixed term and shall be deemed to run with the land or water to which it pertains for the benefit of the citizens of this state.
"Capitol Improvements" means the acquisition or improvement of fixed assets.
"Fixed Assets" means land, buildings, equipment and improvements other than buildings that the recipient uses to provide conservation Trust Fund-allowable expenditures, including costs of construction, renovation, demolition, rehabilitation, deferred maintenance, improvements, equipment and furnishings. Fixed assets are determined to be those with an original cost of $500.00, or with a useful life of one year or more.
"Maintenance" means keeping Conservation Trust Fund-eligible assets in an original or existing state of repair or of preserving them from failure or decline.
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Expenditures and Project Codes
IMPORTANT NOTE: All eligible expenditures must occur on a new conservation site or a public site. |
In order for an expenditure to be eligible for Conservation Trust Fund spending, it must fall into one of the following categories. The links below provide a brief list of eligible and ineligible expenditures in each category:
New Conservation Sites |
Public Sites |
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110 - Acquisition |
210 - Capital Improvements |
310 - Acquisition |
120 - Development |
220 - Maintenance |
320 - Operation |
130 - Maintenance |
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330 - Maintenance |
The link below identifies a brief list of properties, buildings, and service groups that are not eligible uses of Conservation Trust Funds:
Ineligible Properties, Buildings, and Service Groups
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Acquisition of New Conservation Sites
Eligible Expenditures |
Ineligible Expenditures |
Acquisition of property for the following uses:
Associated costs/fees including:
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Insurance for property
Acquisition of real property through condemnation by eminent domain
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Development of New Conservation Sites
Eligible Expenditures |
Ineligible Expenditures |
Development and construction (including rental of construction equipment):
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Maintenance of New Conservation Sites
Eligible Expenditures |
Ineligible Expenditures |
Maintenance:
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Any expenditure that DOES NOT keep the Conservation Trust Fund eligible asset in an original or existing state or preserve it from future failure or decline:
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Capital Improvements to Public Sites
Eligible Expenditures |
Ineligible Expenditures |
Capital Improvements and Fixed Assets:
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Recreational program expenses:
Expenses on ineligible properties or buildings |
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Maintenance of Public Sites
Eligible Expenditures |
Ineligible Expenditures |
Maintenance:
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Any expenditure that DOES NOT keep the Conservation Trust Fund eligible asset in an original or existing state or preserve it from future failure or decline:
Expenses on ineligible properties or buildings |
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Television Translator Facilities
| Operation of a system of television relay and translator facilities and the use, acquisition, equipping, and maintenance of land, buildings, and other recreational facilities therefore. |
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Ineligible Properties, Buildings, and Service Groups
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