[Board] Cherry Hills North Metro District Insurance lapse

Darcy Beard darcybeardcpa at comcast.net
Tue Mar 16 19:18:39 EDT 2021


Hi all,

I hope you have all stayed well during the last few months.  It has come to
my attention the District's insurance for 2021 has  not been paid.  When I
looked back I realized the board has not met since November.  There are a
couple of urgent items which need to be taken care of asap.

 

The first is payment of the insurance premium and submittal of a
No-Known-Loss Letter which must be signed by the President of the board.  I
apologize for this oversight on my part.  I have prepared a bank addendum
form to allow wire transfer of the premium from ColoTrust.  This form needs
to be signed by two signers.  The current signers on the ColoTrust account
are Dan Conway, Marcus McCaskin and Geoff Landry.  Please let me know which
of you can sign the bank addendum and I will send the form via Adobe Sign to
get the signatures electronically.  As soon as the form is signed and
submitted to ColoTrust I will set up the wire transfer.  I will also prepare
the No-Known-Loss-Letter and send it via Adobe Sign to Harold for signature
(if he is available to sign).  Once signed I will forward to the Colorado
Special District Property & Liability Pool so the insurance can be
re-instated.  This must all be received by the Pool no later than April 1,
2021.  

 

The District also needs to submit a Request for Audit Exemption to the State
Auditor's Office no later than March 31, 2021.  The Audit Exemption needs to
be approved by a majority of the board so I think a meeting needs to be
scheduled in the next two weeks.  Does the board want to meet on March 25th
or is another day preferable?  I will also have a few payables and I believe
Purrington Civil may have an update on the maintenance program.

 

I apologize again for the insurance lapse.  The last year has been crazy and
I can't believe I let this slip through the cracks.  Please let me know who
can sign the bank addendum, the No-Known-Losses Letter and the best date to
meet to approve the audit exemption.

 

Darcy Beard CPA

 

 

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