HomeMy WebLinkAbout20103472.tiffCOMPREHENSIVE
ANNUAL
FINANCIAL
REPORT
offitorAnin
rfatoR
COLORADO
TABLE OF CONTENTS
INTRODUCTORY SECTION
Table of Contents
Letter of Transmittal 1
Government Finance Officers Association Certificate
of Achievement for Excellence in Financial Reporting 9
Organization Chart 10
Principal County Officials 11
FINANCIAL SECTION
Independent Auditors' Report 13
Management's Discussion and Analysis 15
Basic Financial Statements
Government -Wide Financial Statements:
Statement of Net Assets
75
Statement of Activities 26
Governmental Fund Financial Statements:
Balance Sheet 28
Reconciliation of Total Governmental Fund Balances to the
Statement of Net Assets 30
Statement of Revenues, Expenditures and Changes in Fund Balance 32
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities 34
Proprietary Fund Financial Statements:
Statement of Net Assets - Proprietary Funds 35
Statement of Revenues, Expenses and Changes in Net Assets -
Proprietary Funds 36
Statement of Cash Flows - Proprietary Funds 37
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Assets 38
Statement of Changes in Fiduciary Net Assets 39
Notes to the Financial Statements 40
Required Supplementary Information
Pension Trust 71
Modified Approach for Infrastructure Assets 72
i
Required Supplementary Information Other Than MD&A:
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Major Funds:
General Fund 73
Public Works Fund 78
Social Services Fund 80
Human Services Fund 82
Contingent Fund 84
Supplemental Information:
Combining Statement of Non -major Governmental Funds:
Explanation of Funds 85
Combining Balance Sheet 90
Combining Statement of Revenues, Expenditures and Changes in Fund Balance 92
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Capital Expenditures Fund 94
Non -major Governmental Funds:
Special Revenue Funds:
Conservation Trust Fund 95
Emergency Fund 96
Public Health Fund 97
Solid Waste Fund 98
Bebee Draw Fund 99
Pioneer Community Law Enforcement Fund 100
South West Law Enforcement Fund 101
Component Units:
Housing Authority 102
E-911 Authority Fund 103
Local Highway Finance Report 104
Combining Statements of Internal Service Funds:
Combining Statement of Net Assets - Internal Service Funds 106
Combining Statement of Revenues, Expenses and Changes in
Net Assets - Internal Service Funds 108
Combining Statement of Cash Flows - Internal Service Funds 110
Combining Statement of Fiduciary Funds:
Combining Statement of Changes in Assets and Liabilities - Fiduciary Funds 1 12
11
Schedule of Revenues, Expenses and Changes in Fund Equity -Actual and Budget
Enterprise Fund and Internal Service Funds:
Enterprise Fund:
Paramedic Services 1 13
Internal Service Funds:
Motor Vehicle Fund 114
Health Insurance Fund 115
Insurance Fund 116
Phone Service Fund 117
STATISTICAL SECTION
Net Assets by Component 120
Changes in Net Assets 121
Fund Balances of Governmental Funds 122
Changes in Fund Balances, Governmental Funds 123
Assessed and Estimated Actual Value of Property 124
Property Tax Levies - Direct and Overlapping Governments 125
Principal Taxpayers 126
Property Tax Levies and Collections 127
Direct and Overlapping Governmental Activities Debt 128
Legal Debt Margin Information 129
Private Purpose Revenue Bonds 130
Demographic and Economic Statistics 131
Principal Employers 132
Full-time Equivalent Employees by Function/Program 133
Operating Indicators by Function/Program 134
Capital Asset by Function/Program 135
Insurance in Force 136
SINGLE AUDIT
Schedule of Expenditures of Federal Awards 137
Report on Compliance and on Internal Control Over Financial Reporting
Based on an Audit of Financial Statements Performed in Accordance with
Governmental Auditing Standards 143
Report on Compliance with Requirements Applicable to Each Major Program and
Internal Control over Compliance in Accordance with OMB Circular A-133 145
Schedule of Findings and Questioned Costs 148
Summary Schedule of Prior Audit Findings 154
Notes to Schedule of Expenditures of Federal Awards 156
111
COLORADO
Ville
COLORADO
June 15, 2010
Honorable Board of Commissioners
County of Weld
915 10th Street
Greeley, CO 80631
Dear Board Members:
DEPARTMENT OF FINANCE
AND ADMINISTRATION
PHONE (970) 356-4000, EXT.4218
FAX: (970) 352-0242
P.O. BOX 758
GREELEY, COLORADO 80632
The Comprehensive Annual Financial Report of the County of Weld, State of
Colorado for the fiscal year ended December 31, 2009, is hereby submitted.
Responsibility for both the accuracy of the data, and the completeness and
fairness of the presentation, including all disclosures, rests with the County. To
the best of our knowledge and belief, the enclosed data is accurate in all
material respects and is reported in a manner designed to present fairly the
financial position and results of operations of the various funds and account
groups of the County. The assurance of the accuracy in the County financial
report is a result of the County's internal controls. The controls have been
developed to provide accurate information on an efficient and cost-effective
basis. All disclosures necessary to enable the reader to gain an understanding
of the County's financial activities have been included.
With the December 31, 2009 financial statements, Weld County has elected to
continue a significant change in government financial reporting. The purpose of
these changes, which were developed by the Governmental Accounting
Standards Board (GASB), is to provide better and more complete information to
the users of governmental financial statements. In addition to changes to the
basic financial statements, the statements are now accompanied by an
introduction, overview, and analysis, referred to as "Management's Discussion
and Analysis" (MD&A). This letter of transmittal is designed to complement the
MD&A and should be read in conjunction with it. The MD&A can be found in
the Financial Section immediately following the independent auditor's report.
The County provides the full range of county services contemplated by statute
or charter. These include general government functions, public protection and
safety, health, social services, human resource services, public improvements,
road and bridge operations, planning and zoning, and general administrative
services.
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Honorable Board of Commissioners
This report includes all activities for which the Board of County Commissioners
is accountable to the citizens of Weld County, financially, or by State Statute or
the Weld County Home Rule Charter. All applicable funds, departments, and
offices are included in these financial statements as part of the "primary
government" of Weld County. In addition, there are several legally separate
entities that have significant operational or financial relationships with the
County. These include the Weld County Housing Authority, Weld County
Retirement Plan, Beebe Draw Law Enforcement Authority, Pioneer Community
Law Enforcement Authority, Southwest Weld Law Enforcement authority, Weld
County Finance Corporation, and E-911 Authority. These entities are also
included in the County's financial statements.
INDEPENDENT AUDIT
Colorado law requires that the County's financial statements be audited by an
independent certified public accountant or firm of certified public accountants
licensed to practice in the State of Colorado. The county's financial statements
have been audited by Bondi and Company, LLC, a Colorado licensed Certified
Public Accounting firm. The goal of the independent audit was to provide
reasonable assurance that the financial statements are free of material
misstatement. The independent audit involved examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. The
independent auditor concluded, based upon the audit, that there was a
reasonable basis for issuing an unqualified opinion that the County's financial
statements for the year ended December 31, 2009, are fairly presented in
conformity with GAAP. The independent auditor's report is presented in the
front of the financial section of this report.
The independent audit of the County's financial statements was part of a
broader, federally mandated "Single Audit" in accordance with provisions of the
Single Audit Act of 1984, Federal Single Audit Amendment of 1996, and U.S.
Office of Management and Budget Circular A-133, Audits of States, Local
Governments, and Non -Profit Organizations. The "Single Audit" is designed to
meet the special needs of federal grantor agencies. The standards governing
Single Audit engagements require the independent auditor to report not only on
the fair presentation of the financial statements, but also on the audited
government's internal controls and compliance with legal requirements,
especially as they relate to the administration of federal awards. Single audit
schedules and the auditor's reports are available in the "Single Audit" section of
the document.
PROFILE OF WELD COUNTY
Location and demographics. Weld County is located along Colorado's Front
Range in the northern part of the state. Weld County covers an area of 3,999
square miles in north central Colorado. It is bordered on the north by Wyoming
and Nebraska and on the south by the Denver metropolitan area. The third
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Honorable Board of Commissioners
largest county in Colorado, Weld County has an area greater than that of
Rhode Island, Delaware and the District of Columbia combined.
The climate is dry and generally mild with warm summers, mild winters and a
growing season of approximately 138 days. The land surface is fairly level in
the east, with rolling prairies and low hills near the western border. Elevations
in the county range from 4,400 to 5,000 feet.
The South Platte River and its tributaries, the Cache la Poudre, Big Thompson,
Little Thompson, Boulder, St. Vrain, and other smaller streams, flow into Weld
County from the south and west, leaving the county on the east.
There are 31 incorporated towns in Weld County. The county seat and
principal city, Greeley, is located in the west central part of the county and
contains almost half the county's population. Generally, most of the remaining
population resides within a 20 to 30 mile radius of Greeley; the northeastern
part of the county is sparsely populated. Southwest Weld County is one of the
fastest growing areas in the state due to its proximity to the north Denver metro
area. The county's population in 2009 was approximately 256,980.
COUNTY GOVERNMENT
County Services. Weld County provides the full range of services contemplated by State
Statute and the Weld County Home Rule Charter. Services include:
4 Judicial and public safety - - consisting of the Sheriff, District Attorney, operation and
maintenance of the detention center, and building inspection.
4 Health, employment, and social services.
a Planning and zoning.
a Construction, reconstruction and maintenance of streets, highways, and bridges.
a Parks and recreation.
4 Property valuation, tax collection and distribution, and vehicle licensing.
General administrative services.
County Operating Structure. Weld County became Colorado's first Home Rule County in
1976. The County is governed by a five -member Board of County Commissioners. Three
Commissioners are elected by districts of relatively equal population and two Commissioners
are elected at large. They serve staggered four-year terms and function as the County's
policymaking body. Each Commissioner coordinates one of five functions of the County. The
County is also served by four other elected officials: assessor, clerk and recorder, district
attorney, and sheriff. Weld County also has a five -member, non-partisan, elected body that is
charged to review all aspects of County government and to make periodic written reports to the
public. The Commissioners appoint department heads to be responsible for the various day-to-
day operations.
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Honorable Board of Commissioners
Budgeting. The County Commissioners annually adopt budgets by department for all
governmental and proprietary funds. Budgets are controlled by the major object categories of
Personnel, Operating Costs, and Capital Outlay. Control is maintained by the three categories
at the division/department level in the General Fund and at the fund level in all other funds.
Supplemental appropriations are approved by the Board of County Commissioners as needed
during the year to provide for those items that were unknown or unforeseen at the time the
budget was originally adopted.
County Employment. Weld County government employs 1,272 regular staff (those receiving
standard benefits) and 124 temporary and seasonal employees. Employees receive a
comprehensive compensation package, typical of municipal and county governments along the
Colorado Front Range. Benefits include paid leave, medical and dental insurance plans, a
defined benefit retirement plan, and a variety of other insurance and non -insurance benefits.
MAJOR INITIATIVES
For the Year. In 2009, the Board identified a number of significant program changes to
enhance service delivery to the citizens of Weld County. The following is a summary of
significant program changes and initiatives for 2009:
a Opened four new courtrooms.
a Implemented a Justice Services Department for all jail alternative programs..
C Increased traffic enforcement in Weld County to reduce traffic fatalities.
a Implemented the Human Capital Management strategy.
Completed the consolidation of Social Services and Human Services into one department.
Implemented strategic transportation system to accommodate growth in County's urbanized
areas and use of the transportation impact fees.
Constructed a new Community Corrections facility.
Enhanced the back-up Communication Center.
C Began energy conservation measures with federal grant.
Continued implementation of e -government strategy.
Completed the constructed of an additional Social Services building.
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Honorable Board of Commissioners
4 Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
Implemented a cost sharing formula to support the Weld County Regional Communications
Center.
Added a DNA Analyst in the Crime Lab to do property crimes.
Relinquished all Head Start programs back to the federal government effective December
31, 2009.
4 Revamped the mini -bus transportation system for increased efficiencies.
4 Implemented the third year of the five-year Support Healthy Marriages Grant.
FACTORS AFFECTING FINANCIAL CONDITION
Economic Conditions and Outlook.
As we approach 2010 here we stand more than a year into a grave economic crisis with a
projected federal deficit of 13% of GDP. That is more than twice the size of the next largest
deficit since World War II. And this projected deficit is the culmination of a year when the federal
government, at taxpayers' expense, acquired enormous stakes in the banking, auto, mortgage,
health-care and insurance industries.
With the crisis, and the ensuing economic downturn, the unfunded liabilities of federal programs,
such as Social Security, federal pensions, Medicare and Medicaid, are all over the $100 trillion
mark. With U.S. GDP and federal tax receipts at about $14 trillion and $2.4 trillion respectively,
such a debt all but guarantees higher interest rates, massive federal tax increases and partial
default on government promises eventually.
With the fiscal picture the country faces and the monetary policies that have and will follow we
can expect rising prices and higher interest rates over the next four or five years. With the state
tax limitations and Weld County's own five -percent property tax limitation the inflationary
pressures from rising prices could make the financial challenges for Weld County very difficult ,
much like the late 1970's and early 1980's.
However, prior to facing those financial challenges we all must weather the current economic
crisis of slow economic recovery and continued unemployment. The current economic crisis
has taken its toll on the State of Colorado and Weld County. Historically the Colorado economy
has fared better than many other states during nationwide recession periods. Such decreased
volatility in Colorado is attributable largely to the rather diverse nature of the Colorado economy.
Both the national economy and broader global economy are in a state of disorder due to an
unprecedented series of shocks to financial systems worldwide. The resultant difficulties posed
by the current national recession have surely adversely impacted the Colorado economy and
Weld County's economy. However, economic conditions in Colorado and Weld County are still
generally expected to be more favorable than conditions nationally in 2010.
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Honorable Board of Commissioners
Weld County, like the rest of Colorado, has experiences job losses as consumer and corporate
confidence dropped. This resulted in slower sales and significant corporate profitability losses
that led to reduced production and ultimately to further job losses — continuing the downward
cycle. While experiencing unemployment approaching 7.5-8.0%, Weld County is adding jobs in
some industries, such as the renewable energy economy being the prime example. Weld
County has two Vestas wind blade manufacturing plants that will be open by the beginning of
2010 with over 2,000 new jobs, and Abound Solar, Inc. recently expanded into Weld County
with 300 plus new jobs.
An area of major slowdown has been the construction industry in Weld County. The annual
growth rate of three plus percent the last few years came to a stop in 2009, and is not expected
to recover for at least two or three years as inventories of homes and commercial space in
absorbed once the economy begins to recover. This has caused declines in revenues in the
county on the negative side, but has also given the county a time to catch-up in dealing with the
past rapid growth that has already occurred.
The slowdown in the economy has also resulted in the local energy industry slowing down in the
areas of exploration and production. This coupled with the decline in energy prices will impact
the county's assessed value in 2011 adversely. Plans were implemented in 2009 to deal with
this problem in 2010-2011.
The State of Colorado government's budget woes will also impact Weld County government. As
the recession causes a reduction in sales tax and income tax revenues the state struggles to
balance their budget. With many county programs tied to the finances of the state the Weld
County budget is always in jeopardy when the state begins to look for places to cut their budget.
This problem will persist through 2010 and perhaps longer. Even if the economy rebounds
analysts are warning that income taxes from capital gains from sale of assets may lag several
years due to the dramatic drop in the prices equities and real estate. The portion of state and
federal income tax from capital gains is not insignificant.
The current recession has posed unprecedented challenges to policy -makers and corporate
leaders alike. As difficulties from the financial crisis persist nationally, consumer confidence,
credit availability, and labor market disturbances will likely persist in Colorado. A recovery of the
Colorado economy will be closely correlated with improvements in the national economy, and
improvement in the national economy is contingent upon a variety of volatile factors.
Anticipating the effects of future monetary and fiscal policy actions is quite difficult. Additionally,
the overall effect of the enacted American Recovery and Reinvestment Act of 2009 remains
unknown, as does the lag between the legislation's implementation and consequent benefits.
For the Future. The main purpose of county government is to be able to continue providing
essential public safety, health, welfare services, and a county transportation system. The
national and international economies are struggling under unprecedented uncertainties and
challenges. With indicators of housing market performance dropping to depths that haven't been
seen in years, volatile energy and commodity prices, and slow economic growth, many local
and state governments are feeling financial pressures. Fortunately, Weld County is weathering
this storm better than many other local governments thanks to our past prudent and
conservative financial management. Over the yeas Weld County has taken a number of steps
to restrict spending and safeguard taxpayer dollars. However, despite these sound fiscal
practices Weld County will not escape some of the consequences of the economic downturn
and economic turmoil around it.
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Honorable Board of Commissioners
As Weld County policy makers and managers face the next three to four years, it will take extra
efforts on everyone's part to deliver conservative and balanced budgets in fiscal years 2010-
2014. Based upon some reasonable projections of future assessed values, and demand for
services it will be essential to develop budgets that tighten county government's belt, focus on
critical services, and reflect the needs of the citizens of Weld County. While weathering these
economic times over the next few years, the budget must continue to deliver essential services
and also make strategic investments in human capital management, and the county's
infrastructure so that our county is well -positioned for a strong economic rebound when the
downturn becomes an upturn.
The main issue facing Weld County is the impact that the drop in housing prices and the
volatility of the price and production of oil and gas will have on Weld County's assessed value,
which generates property taxes to support nearly 70% of the county's budget. With a
reappraisal year in 2009 for the 2010 budget residential property in Weld County dropped as
much as 15-30% with an average impact of over an 8% reduction. This drop is more than offset
by the rise in oil and gas assessed value in the same year. The problem will come in
configuring the 2011 budget, because with the drop in oil and gas prices in 2009 the oil and gas
assessed value may well drop back to 2007 levels. In doing a reasonable forecast of assessed
values due to the drop in housing values and volatility of oil and gas values the structural and
cyclical problem of the property tax revenues for the next three years must be dealt with as one
budgetary issue, and not left to be dealt with in the individual years or a major problem will be
created for 2011 and 2012. Hopefully, by 2013 the assessed values will begin to stabilize.
Another area of concern is the continued State of Colorado budget crisis with the drop in sales
tax and income tax resulting from the economic slowdown. Many of the county's programs are
dependent upon our funding partnership with the state. As the state seeks to balance its budget
the county can expect cuts to state programs impacting the county until the economy and state
revenues improve.
Challenging fiscal times test the strength of an organization's backbone, but they also provide
an opportunity to review and strengthen policies, enhance the analytical knowledge of the
organization, and inspire fresh perspectives. It is an opportunity for departmental -level reviews
and analysis. It is a time to align strategies and programs to maximize the positive impacts on
services to the county's residents and find innovative ways to reduce costs and leverage
resources. A major challenge or crisis can provide impetus to innovate and make changes that
would be near impossible in better times. As someone once said, "a crisis is a terrible thing to
waste."
Prioritizing services is essential in the dealing with the budgetary challenge. Services cannot be
provided as they always have. There is probably some "fat" that can be trimmed from the
existing service mix, but more likely, Weld County will have to do more with less, or do less, of
or simply stop providing some services to concentrate on a more limited number of high priority
programs.
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COUNTY OF WELD
STATE OF COLORADO
PRINCIPAL COUNTY OFFICIALS
December 31, 2009
Board of County Commissioners
Douglas Rademacher
David Long
Barb Kirkmeyer
Bill Garcia
Sean Conway
County Clerk and Recorder
Steve Moreno
County Assessor
Christopher M. Woodruff
County Sheriff
John Cooke
Director of Finance & Administration
Monica Mika
Controller
Barbara Connolly
Treasurer
John R. Lefebvre, Jr.
11
COLORADO
FINANCIAL
SECTION
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COLORADO
MANAGEMENT'S DISCUSSION AND ANALYSIS
This section of the report provides readers with a narrative overview and analysis of the financial
activities of Weld County for the fiscal year ended December 31, 2009. We encourage readers to
consider the information presented here in conjunction with the letter of transmittal and basic
financial statements to enhance their understanding of the County's financial performance.
FINANCIAL HIGHLIGHTS
Weld County's assets exceeded liabilities by $313.9 million at the end of 2009. Of this amount,
$43.3 million may be used to meet the government's ongoing obligations to citizens and
creditors. The remaining $270.6 million is invested in capital assets or restricted by law.
The County's General Fund balance was $10.8 million as of December 31, 2009. Of this
amount, $.8 million is reserved for emergencies, advances, and encumbrances.
The 2009 General Fund balance is $1.0 million lower than in the previous year. The total fund
balance is 13.7% of 2009 General Fund operating expenditures plus net operating transfers.
The County Commissioners' goal is to keep fund balance at no less than 5%. The Board has
not budgeted any expenditures from fund balance in 2010.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the County's basic financial
statements. The basic financial statements contain three components: 1) government -wide financial
statements, 2) fund financial statements, and 3) notes to the financial statements. In addition to the
basic statements, this report also contains other supplementary information including combining
statements for non -major funds, a statistical section, and information regarding federal grant
programs.
Government -wide Financial Statements. The government -wide financial statements are designed
to provide readers with a broad overview of the County's finances in a manner similar to a private
sector business.
The statement of net assets presents information on all of the County's assets and liabilities, with
the difference between the two reported as net assets. Over time, increases or decreases in net
assets may serve as a useful indicator of whether the County's financial position is improving or
deteriorating.
The statement of activities presents information showing how the government's net assets changed
during the fiscal year. All changes in net assets are reported as soon as the underlying event giving
rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and
expenses are reported in the statement for some items that will only result in cash flows in future
fiscal periods (e.g., uncollected taxes).
15
Both of the government -wide financial statements distinguish functions of the County that are
principally supported by taxes and intergovernmental revenues (governmental activities)from other
functions that are intended to recover all or a significant portion of their costs through user fees and
charges (business -type activities). Weld County's governmental activities include general
government, public safety, roads and bridges, auxiliary, culture and recreation, and health and
human services. The County has one business type activity — operation of the paramedic services.
The government -wide financial statements include not only Weld County itself (known as the
primary government), but also legally separate entities which have a significant operational or
financial relationship with the County. These entities, known as blended component units, include
local improvement districts, Finance Corporation, Weld County Retirement Plan, Pioneer Law
Enforcement Authority, Southwest Weld Law Enforcement Authority and Beebe Draw Law
Enforcement Authority. Discretely presented component units are Housing Authority and E-911
Emergency. More information on the functions of these entities can be found in Note 1 to the
financial statements.
Fund financial statements. A fund is a grouping of related accounts that is used to maintain
control over resources that have been segregated for specific activities or objectives. Weld County,
like other state and local governments, uses fund accounting to ensure and demonstrate
compliance with finance -related legal requirements. All of the funds of Weld County can be divided
into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government -wide financial statements. However, unlike
the government -wide financial statements, governmental fund financial statements focus on near -
term inflows and outflows of spendable resources, as well as on balances of spendable resources
available at the end of the fiscal year. Such information may be useful in evaluating a government's
near -term financing requirements.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government -wide financial statements. By
doing so, readers may better understand the long-term impact of the government's near -term
financing decisions. Both the governmental fund balance sheet and the governmental fund
statement of revenues, expenditures, and changes in fund balances provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities.
Weld County maintains eleven individual governmental funds. Information is presented separately
in the governmental funds balance sheet and in the governmental funds statement of revenues,
expenditures, and changes in fund balances for the General Fund, Public Works Fund, Social
Services Fund, Human Services Fund, Capital Expenditures, and Contingent Fund, all of which are
considered to be major funds. Data from the other five funds are combined into a single,
aggregated presentation. Individual fund data for each of these non -major funds is provided in the
form of combining statements elsewhere in this report.
The basic governmental fund financial statements can be found on pages 25 through 34 of this
report.
16
Proprietary funds. Weld County maintains two different types of proprietary funds. Enterprise
funds are used to report the same functions presented as business -type activities in the
government -wide financial statements. Weld County has one enterprise fund, the Paramedic
Services Fund. Internal service funds are an accounting device used to accumulate and allocate
costs internally among the County's various functions. Weld County uses internal service funds to
account for its fleet maintenance, phone services, Weld Finance Corporation, and self-insurance
activities. Because these services predominantly benefit governmental rather than business -type
functions, they have been mostly included within governmental activities in the government -wide
financial statements.
Proprietary funds provide the same type of information as the government -wide financial
statements, only in more detail. The proprietary fund financial statements provide separate
information for the Paramedic Services Fund, which is considered to be a major fund of the County.
The remaining proprietary funds, all of which are in ternal service funds, are combined into a single,
aggregated
presentation in the proprietary fund financial statements. Individual fund data for each of these non -
major funds is provided in the form of combining statements elsewhere in this report.
The basic proprietary fund financial statements can be found on pages 35 through 37 of this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties
outside the government. Fiduciary funds are not included in the government -wide financial
statements because the resources of these funds are not available to support Weld County's own
operations. The accounting used for fiduciary funds is much like that used for proprietary funds.
The basic fiduciary fund financial statements can be found on page 38 through 39.
Budgetary Comparisons. Weld County adopts an annual appropriated budget for all of its funds. A
budgetary comparison statement has been provided for all major funds on pages 73 to 84 of this
report. Budget to actual comparisons for each of the non -major funds are provided in other
schedules elsewhere in this report.
Notes to the financial statements. The notes provide additional information that is essential to a
full understanding of the data provided in the government -wide and fund financial statements. The
notes to the financial statements can be found on pages 40 through 70 of this report.
Other information. The combining statements referred to earlier in connection with non -major
governmental funds and internal service funds are presented following the notes to the financial
statements and can be found on pages 90 through 101 and 106 through 117 respectively.
COUNTY -WIDE FINANCIAL ANALYSIS
Net Assets. As noted earlier, net assets may serve over time as a useful indicator of a
government's financial position. As of December 31, 2009, assets exceeded liabilities by $313.9
million.
The following table provides a summary of the County's governmental and business -type net assets
for 2008 and 2009.
17
Table 1
Net Assets
(in Millions)
Governmental Activities Business -type Activities Total
2008 2009 2008 2009 2008 2009
Assets
Current and other assets
Capital assets
Total assets
Liabilities
Current and other liabilities
Long-term liabilities
Total liabilities
Net Assets
Invested in capital assets
Restricted
Unrestricted
Total net assets
$146.83 $177.42 $3.22 $2.85 $150.05 $180.27
253.01 256.83 1.07 1.01 254.08 257.84
$399.84 $434.25 $4.29 $3.86 $404.13 $438.11
$94.33 $ 116.52 $.44 $ .37 $94.77 $116.89
4.80 7.29 .00 .00 4.80 7.29
$99.13 $ 123.81 $.44 $ .37 $99.57 $124.18
$253.01 $256.83 $1.07 $1.01 $254.08 $257.84
10.30 12.79 .00 .00 10.30 12.79
37.40 40.82 2.78 2.48 40.18 43.30
$300.71 $310.44 $3.85 $3.49 $304.56 $313.93
A significant portion of Weld County's net assets (13.8%) represents unrestricted net assets of
$43.30 million, which may be used to meet the County's ongoing obligations to citizens and
creditors.
Another significant portion of the County's net assets (82.1%) reflects its investment in capital
assets. These assets include land, buildings, machinery, equipment and infrastructure. These
capital assets are used to provide services to citizens; consequently, they are not available for
future spending. Although the investment in capital assets is reported net of related debt, it should
be noted that the resources needed to repay this debt must be provided from other sources since
the capital assets themselves cannot be used to liquidate these liabilities.
An additional $12.79 million of the County's net assets (4.0%) represents resources that are subject
to external restrictions on how they may be used. Included in this category are the TABOR
emergency reserve of $6.0 million and $2.27 million in reserves for insurance claims.
At the end of 2009 Weld County had positive balances in all three categories of net assets, both for
the government as a whole, as well as for its separate governmental and business -type activities.
Changes in Net Assets. Governmental and Business -type activities increased the County's net
assets by $9.37 million in 2009. The following table indicates the changes in net assets for
governmental and business -type activities in 2008 and 2009.
18
Changes in Net Assets
(in Millions)
Governmental Activities Business -type Activities Total
Revenues
Program revenues:
Charges for services
Operating grants and contributions
Capital grants and contributions
General revenues:
Property taxes
Other taxes
Other revenues
Total revenues
Expenses
General government
Public safety
Streets and highways
Culture and recreation
Health & Welfare
Economic Assist
Paramedic services
Total expenses
Increase (decrease) in net assets
before Transfers
Transfers
Increase (decrease) in net assets
Net Assets 1/1/09
Net Assets 12/31/09
2008
2009 2008 2009 2008 2009
$ 42.11 $ 40.23 $9.08 $7.48 $51.19 $ 47.71
33.13 36.57 0.03 0.09 33.16 36.66
0.03 0.00 0.00 .00 0.03 0.00
72.74 75.05 0.00 0.00 72.74 75.05
7.04 9.64 0.00 0.00 7.04 9.64
9.53 9.57 0.00 0.00 9.53 9.57
$164.58 $171.06
$9.11 $7.57
$173.69 $178.63
$ 31.02
40.50
40.79
1.08
35.12
14.60
0.00
$ 3174
40.65
31.12
1.01
39.88
15.55
0.00
$0.00
0.00
0.00
0.00
0.00
0.00
9.29
$0.00
0.00
0.00
0.00
0.00
0.00
9.31
$31.02
40.50
40.79
1.08
35.12
14.60
9.29
$ 31.74
40.65
31.12
1.01
39.88
15.55
9.31
$163.11 $159.95
$9.29 $ 9.31 $172.40 $169.26
1.47 11.11
(.18) (1.74)
1.29 9.37
(.85) (1.38) .85 1.38 0.00 0.00
0.62 9.73
300.09 300.71
0.67 (0.36)
1.29 9.37
3.18 3.85 303.27 304.56
$300.71 $310. 44 $3.85 $ 3.49 $304.56 $313.93
Governmental Activities. Governmental activities increased Weld County's net assets by $9.73
million in 2009. Key elements of this increase are as follows:
Total revenues were $6.48 million, up 3.94% from the prior year, primarily due to property taxes
($2.31 million) and operating grants ($3.44 million)
Expenses totaled $159.95 million. This represent a 1.94% decrease over the previous year,
with a increases to all government functions offset by a major decrease to street and highway
expenditures of $9.67 million.
Business -Type Activities. The County's only business -type activity, Paramedic Services, decreased
net assets in 2009 by $.36 million.
19
FINANCIAL ANALYSIS OF THE COUNTY'S FUNDS
As noted earlier, Weld County uses fund accounting to ensure and demonstrate compliance with
finance -related legal requirements.
Governmental Funds Overview. The focus of County governmental funds is to provide information
on near -term inflows, outflows, and balances of spendable resources. Such information is useful in
assessing the County's financing requirements. In particular, unreserved fund balance may serve
as a useful measure of a government's net resources available for spending at the end of the fiscal
year.
As of the end of 2009, the combined ending fund balances of County governmental funds was
$54.76 million. Approximately 80.45% of this consists of unreserved fund balance, which is
available as working capital and for current spending in accordance with the purposes of the
specific funds. The remainder of fund balance is reserved to indicate that it is not available for new
spending because it is committed for the following purposes: 1) encumbrances ($2.65 million); 2) a
state -constitution mandated emergency reserve ($6.0 million); and 3) prepaid expenses and
inventory ($2.05 million).
The County has six major governmental funds. These are 1) General Fund; 2) Public Works Fund;
3) Social Services Fund; 4) Human Services Fund; 5) the Contingent Fund; 6) Capital Expenditures
Fund.
1. General Fund. This is the primary operating fund of the Weld County Government. It
accounts for many of the County's core services, such as law enforcement, planning, and
elections. The general fund balance was $10.81 million as of December 31, 2009. The
2009 fund balance went down $1.0 million, which is slightly lower than the previous year
due transfers to other funds. The transfers were funded by use of some of the fund balance
and the added revenues from oil and gas mineral leasing revenues, jail revenues, and
various departments under spending. As a measure of the general fund's liquidity, it may
be useful to compare both unreserved fund balance and total fund balance to total fund
expenditures. Unreserved fund balance represents 12.64 % of total 2009 expenditures,
while total fund balance is 13.71% of the same amount.
2. Public Works Fund. The Public Works Fund is also state mandated. The fund records
costs related to County road and bridge construction and maintenance. The Public Works
Fund had $23.27 million in fund balance at the end of 2009. This amount was $6.91 million
more than the previous year. 2009 expenditures for road projects were less than budgeted
as some projects were delayed, and revenues from highway user taxes due to the new
FASTER legislation was higher than anticipated. In addition the new formula for severance
tax resulted in a significant increase in the severance tax distribution to the county.
3. Social Services Fund. The Social Services Fund is mandated by State Statute. This fund
accounts for the local share of many Federal and State public welfare programs. The fund
carried a $1.12 million balance at the end of 2009 which is 4.8% higher than 2008. Due to
the recession caseloads and costs were up for 2009. Transfers of $2.26 million from the
General Fund in 2009 are responsible for the increase in fund balance.
20
4. Human Services Fund. The Human Services Fund accounts for various Federal and State
human services grants. Primary funding agencies are DOL, HHS, and CSA. The decrease
in expenditures for 2009 was primarily attributed to the Head Start programs on the Western
Slope being relinquished back to the federal government in 2009. The remaining Head
Start programs were relinquished back to the federal government effective at the end of
2009.
6. Contingent Fund. The Contingent Fund records any property tax revenue levied by the
Board of County Commissioners to cover reasonable unforeseen expenditures.
5. Capital Expenditure Fund. The Capital Expenditure Fund accounts for the construction of
major capital facilities. These are the additional four courtrooms in the Centennial Complex,
completion of the Human Services office building, and the beginning of the construction of
the Community Corrections facility. The encumbrances at year end are for the Community
Corrections facility.
Proprietary Funds Overview
The County's proprietary fund statements provide the same of information found in the government -
wide statements, but in more detail.
The County has one enterprise -type fund, The Paramedic Services Fund. Unrestricted net assets
of the fund at the end of the year amounted to ($3.49 million). The total decrease in net assets for
the fund was $.36 million. Other factors concerning the finances of this fund was discussed under
business -type activities.
Weld County has five internal service funds. Information on these funds is aggregated in the
Proprietary Fund financial statements.
GENERAL FUND BUDGETARY HIGHLIGHTS
Comparison of Unreserved Fund Balances as of December 31, 2008 and 2009
18
16
14
0 10
2
8
6
4
2
0 _
n
r■
General Public Social Human Contingent Capital Other Govt.
Fund Works Services Services Fund Projects Funds
❑ 2008
® 2009
21
The County's budget is prepared according to Colorado statutes. The most significant budgeted
fund is the General Fund.
In December of 2008, the Board of County Commissioners appropriated $74.46 million for general
fund expenditures and other financing uses for 2009.
Revenue and other financing sources
Expenditures and other financing uses
Table 3
2009 General Fund Budget
(in Millions)
Original Budget Amendments Final Budget
$ 74.23 $ 1.84 $ 76.07
Actual
$ 77.85
$ 74.46 $ 6.68
$ 81.14 $ 78.85
During 2009 mid -year budget amendments included:
$1.35 million in transfers and fund balance for Paramedic Services vehicle subsidy
4 $1.0 million transferred to Insurance Fund to increase reserves
4 $2.26 million transferred to Social Services Fund due to caseload increases
$0.5million transferred to Capital Expenditure Fund for courtroom remodel
$0.6 million for computer software
Reduced Public Health Department subsidy by $0.372 million
$0.537 million for Motor Pool equipment from Energy Impact Grant
$0.36 million for Upstate Colorado Economic Development grant.
Supplemental appropriations were made to various departments for salary and benefit
reallocations.
The increase was possible because of excess fund balance, various departments under spending
their budgets, and additional unanticipated revenues. Those revenues include oil and gas mineral
leasing ($1.13 million) and, jail revenue ($0.75 million).
22
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets. Weld County's investment in capital assets for its governmental and business type
activities as of December 31, 2009 totals $257.84 million (net of accumulated depreciation). This
investment includes all land, buildings, machinery, equipment, and infrastructure. The total
increase in investment in capital assets for the current fiscal year was 1.48%.
Major capital asset events during the current fiscal year including the following:
Road construction or major improvements totaling $14.13 million.
Completed Human Services Building $2.7 million
c, Completed the remodel of four courtrooms $2.98 million
Began construction of the Community Corrections facility of $3.1 million
E. Acquired a warehouse for storage $0.3 million
The County implemented the "depreciation method" under GASB 34 for its road and bridge
infrastructure assets, except for the gravel roads, where the "modified approach" was used. The
County's policy is to maintain gravel roads at a condition of fair or better. This level of condition is
being maintained consistently on over 97.6% of miles of road.
Additional information on the County's capital assets can be found in Note 6 of this report.
Construction commitments are discussed in Note 11.
Long-term Debt. At December 31, 2009, Weld County had no outstanding long-term debt or debt
from Certificates of Participation (COP). The last COP was paid of early on August 1, 2007.
The Weld County Home Rule Charter provides fora general obligation debt limit of 3% of assessed
valuation. The county had a general obligation debt capacity of $136.8 million in 2009. The county
currently has no debt subject to the limitation. No new debt was issued in 2009.
Additional information on Weld County's debt can be found in Note 8.
Other Matters. The following factors are expected to have a significant effect on the County's
financial position or results of operations and were taken into account in developing the 2010
budget.
Continue implementation olHtlnean Capital Management Strategy.
Implementation of an employee medical clinic to control health insurance costs.
Increased traffic enforcement in Weld County to reduce traffic fatalities.
Open up an additional 64 beds in the jail.
Open the new Community Corrections facility.
23
Implement the Pre -Trial Program to help control jail inmate population
All Head Start programs were relinquished back to the federal government.
Identify technology uses to improveic s and cost-effectiveness of services.
Continued implementation of e -government strategy.
Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
Implement the new Strategic Plan approach.
Implemented the five-year Support Healthy Marriages Grant.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of Weld County's finances for all
those with an interest in the government's finances. Questions concerning any of the information
provided in this or for additional financial information should be addressed to the Director of Finance
and Administration, 915 10th Street, Greeley, CO 80631. Request for additional information
regarding the Housing Authority should be addressed to Tom Teixeira, Executive Director, Weld
Housing Authority, 903 6th Street, Greeley, CO 80631.
24
BASIC
FINANCIAL
STATEMENTS
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
December 31, 2009
ASSETS
Cash and cash equivalents
Property taxes receivable
Receivables (net of allowance for
uncollectibles)
Due from other governments
Internal balance
Inventories
Other assets
Net other post employment benefits asset
Restricted assets:
Cash and cash equivalents
Capital Assets not depreciated
Capital Assets - net of accumulated depreciation
Total assets
LIABILITIES
Accounts payable and other current liabilities
Accrued liabilities
Due to other governments
Unearned revenue
Other liabilities
Long-term liabilities:
Due within one year:
Compensated absences
Due in more than one year:
Compensated absences
Net Pension Obligation
Total liabilities
NET ASSETS
Invested in capital assets
Restricted for:
Programs
Emergencies
Claims (Note 7)
Unrestricted
Total net assets
Primary Government
Governmental
Activities
Business -type
Activities
$ 68,016,579 $ 960,701
96,893,678
4,476,058
5,202,205
(396,721)
1,989,435
598,347
291,210
355,562
21,881,582
234,944,725
434,252,660
8,116,475
5,117,558
44,656
102,862,405
150,811
227,864
2,811,197
4,481,662
123,812,628
256,826,307
4,524,110
6,000,000
2,270,613
40,819,002
1,488,136
396,721
48,496
962,728
3,856,782
67,822
299,328
367,150
1,011,224
2,478,408
$ 310,440,032 $ 3,489,632
See accompanying notes to the basic financial statements
Total
Component Units
Housing
Authority
E-911
Authority
$ 68,977,280 $ 1,370,850 $ 3,827,179
96,893,678
5,964,194
5,202,205
1,989,435
598,347
291,210
355,562
21,930,078
235,907,453
735,938
2,056
575,216
13,592
129,398
150,000
1,626,005
438,109,442 2,697,652 5,732,582
8,184,297
5,416,886
44,656
102,862,405
150,811
227,864
2,811,197
4,481,662
124,179,778
257,837,531
4,524,110
6,000,000
2,270,613
43,297,410
42,056
2,180
228,923
12,107
38,615
323,881
357,006
357,006
13,592 1,776,005
575,216
1,784,963 3,599,571
$ 313,929,664 $ 2,373,771 $ 5,375,576
25
COUNTY OF WELD
STATE OF COLORADO
Statement of Activities
Year Ended December 31, 2009
Program Revenues
Primary government:
Governmental activities:
General government
Public safety
Streets and highways
Health and welfare
Culture and recreation
Economic assistance
Total governmental activities
Business -type activities:
Paramedic service
Total primary government
Component units:
Housing Authority
E-911 Authority
Total component units
Expenses
Operating Capital
Charges for Grants and Grants and
Services Contributions Contributions
$ 31,738,352 $ 8,728,521 $ 2,607,134 $
40,649,718 5,658,339 2,242,653
31,123,536 3,262,996 13,413,994
39,882,326 21,091,150 3,797,448
1,013,683 448,990 408,648
15,546,027 1,041,768 14,110,713
159,953,642 40,231,764 36,580,590
9,310,991 7,475,012
mio
lea
de
84,750 3,556
$ 169,264,633 $ 47,706,776 $ 36,665,340 $ 3,556
$ 2,755,570 $ 57,008 $ 2,527,882 $
1,571,534 1,976,806
Mb
$ 4,327,104 $ 2,033,814 $ 2,527,882 $
GENERAL REVENUES
Taxes:
Property taxes
Specific Ownership
Severance/Tobacco
Royalties
Miscellaneous
Unrestricted investment earnings
Transfers
Total General Revenues and Transfers
Change in net assets
Net assets - beginning
Net assets - ending
See accompanying notes to the basic financial statements
26
Net (Expenses) Revenues and
Changes in Net Assets
Primary Government
Governmental
Activities
Business -type
Activities
$ (20,402,697) $
(32,748,726)
(14,446,546)
(14,993,728)
(156,045)
(393,546)
(83,141,288)
IND
Total
Component Units
Housing E-911
Authority Authority
▪ $ (20,402,697) $
(32,748,726)
(14,446,546)
(14,993,728)
(156,045)
(393,546)
(83,141,288)
(1,747,673) (1,747,673)
$ (83,141,288) $
IMO
75,047, 892
6,167,691
3,472,065
1,707,235
5,468,676
2,391,636
(1,385,000)
92,870,195
9,728,907
300,711,125
$ 310,440,032
d e
(1,747,673) $ (84,888,961) $
1,385,000
1,385,000
(362,673)
3,852,305
INe
ee
$
▪ $ (170,680) $
405,272
▪ $ (170,680) $ 405,272
75,047,892
6,167,691
3,472,065
1,707,235
5,468,676
2,391,636
O D
94,255,195
9,366,234
304,563,430
O n
O n
10,443
MS
10,443
(160,237)
2,534,008
405,272
4,970,304
$ 3,489,632 $ 313,929,664 $ 2,373,771 $ 5,375,576
COUNTY OF WELD
STATE OF COLORADO
Governmental Funds
Balance Sheet
December 31, 2009
ASSETS
Cash and short-term investments
Receivables (net of allowance for uncollectibles):
Current property taxes
Delinquent property taxes
Accounts
Special assessment
Due from other County funds
Due from other governments
Inventories
Other assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Accrued liabilities
Other liabilities
Due to other County funds
Due to other governments
Deferred revenue
Unexpended grant revenue
Total Liabilities
Fund Balances:
Reserved for encumbrances
Reserved for other assets
Reserved for inventories
Reserved for emergency
Unreserved: Designated for property tax credit
Unreserved: Undesignated
General Fund
Special Revenue Funds
Capital Project Fund
Total Fund Balances
Total Liabilities and Fund Balances
General Fund
$ 15,258,847
53,655,343
468,086
1,208,485
168,798
112,674
142,635
532,377
$ 71,547,245
4,325,731
1,730,848
43,176
54,193,374
446,743
60,739,872
171,796
532,377
142,635
3,592,952
6,367,613
10,807,373
Public Works
Fund
$ 22,716,154
7,301,021
63,946
644,233
50,833
6,848
1,350,291
9,017
$ 32,142, 343
1,033,503
390,648
17,910
7,421,431
8,863,492
55,498
9,017
1,350,291
21,864,045
23, 278, 851
Social Services
Fund
$ 3,120,423
6,121,405
50,238
362,300
47,130
2,860,192
4,625
$12,566,313
651,338
691,787
150,811
325,185
44,656
9,582,014
11,445,791
4,625
1,115,897
1,120,522
$ 71, 547, 245 $ 32,142, 343 $12,566,313
See accompanying notes to the basic financial statements
28
Human Services
Fund
Contingent Fund
Capital Other Total
Expenditures Governmental Governmental
Fund Funds Funds
$ 17,058 $ 6,475,838 $ 4,297,676 $ 7,315,659 $ 59,201,655
6,430
286,783
2,229,339
424,696
8,647
20,414,226
1,148
7,243,758
68,495
500,000
94,735, 753
651,913
1,117,925 3,839,373
50,833
1,318 510,877
5,202,205
1,917,622
7,125 561,791
$ 2,972,953 $ 26,891,212 $ 12,109,929 $ 8,442,027 $166,672,022
621,155
323,008
57,436
568,106
191,879
1,761,584
8,647
- 706,896 93,125
- - 237,624
- 37,768 41,821
20,442, 206 7,321,698 218,661
20,442,206
1,202,722 6,449,006
1,211,369 6,449,006
7,431,748
3,373,915
150,811
523,296
44,656
99,747,490
638,622
8,066,362 591,231 111,910,538
2,426,515
1,617,052
4,043,567
2,653,809
7,125 561,791
- 1,492,926
6,000,000 6,000,000
3,592,952
1,843,671
6,367,613
32,475, 341
1,617,052
7,850,796 54,761,484
$ 2,972,953 $ 26,891,212 $ 12,109,929 $ 8,442,027 $166,672,022
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of Total Governmental Fund Balances To Statement of Net Assets
December 31, 2009
Total governmental fund balances $ 54,761,484
Amounts reported for governmental activities in the statement of activities are different because:
Capital assets used in governmental activities are not financial resources
and therefore are not reported in the funds 241,637,068
Long-term liabilities, including bonds payable and compensated absences,
are not due and payable in the current period and therefore are not reported
in the funds
Compensated Absences
Net Pension Obligation
Net Other Post Employment Benefits Asset
Internal service funds are used by mangement to charge the costs of
insurance and other services to individual funds. The assets and liabilities
of the internal service funds are included in governmental activities in the
statement of net assets
(3,039,061)
(4,481,662)
291,210
21,668,537
Internal services used by Enterprise Fund (397,544)
Net assets of governmental activities $ 310,440,032
See accompanying notes to the basic financial statements
30
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
Year Ended December 31, 2009
REVENUES:
Taxes
Licenses and permits
Intergovernmental
Fines and forfeitures
Charges for services
Miscellaneous
Fees
Total Revenues
EXPENDITURES:
Current:
General government
Public Safety
Public Works
Public health and welfare
Culture and recreation
Economic assistance
Capital outlay
Total Expenditures
Excess of Revenues Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers - in
Transfers - out
Total Other Financing Sources (Uses)
Net Changes in Fund Balance
Fund Balances at Beginning of Year
Fund Balance at End of Year
General Fund
$ 53,977,533
1,178,850
5,370,262
313,549
3,269,306
6,590,173
7,146,991
77,846,664
28,183, 741
38,464,353
2,418,045
555,140
618,307
315,870
70,555,456
7,291,208
85,000
(8,375,723)
(8,290,723)
(999,515)
11,806,888
Public Works
Fund
Social
Services Fund
$ 16,891,696 $ 5,761,020
288,432
13,904,941
2,537,699
137,471
335,446
22,609,456
34,095,685 28,370,476
27,177,592
30,564,664
12,740
27,177,592 30,577,404
6,918,093 (2,206,928)
6,918,093
16,360,758
2,260,810
2,260,810
53,882
1,066,640
$ 10,807,373 $ 23,278,851 $ 1,120,522
See accompanying notes to the basic financial statements
32
Human
Services Fund
$
13,816,434
851,818
204,950
14,873,202
14,622,541
30,046
14,652,587
220,615
12,351
Contingent
Fund
Capital
Expenditures
Fund
$ (1,921) $ 7,983,367
(1,921)
(1,921)
(1,000,000)
12,351 (1,000,000)
232,966
978,403
(1,001,921)
7,450,927
1,530,173
148,744
64,038
9,726,322
127,468
9,534,264
9,661,732
64,590
500,000
500,000
564,590
3,478,977
Other
Governmental
Funds
$ 30,782
3,868,816
9,862
2,280,860
51,570
6,241,890
204,406
8,168,182
396,115
18,387
Total
Governmental
Funds
$ 84,642,477
1,467,282
61,100,082
323,411
8,939,683
7,132,908
7,546,475
171,152,318
28,311,209
38,668,759
29,595,637
39,287,986
1,014,422
14,622,541
9,911,307
8,787,090 161,411,861
(2,545,200) 9,740,457
4,725,471
(592,909)
7,583,632
(9,968,632)
4,132,562 (2,385,000)
1,587,362
6,263,434
7,355,457
47,406,027
$ 1,211,369 $ 6,449,006 $ 4,043,567 $ 7,850,796 $ 54,761,484
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Governmental Funds to the Statement of Activities
Year Ended December 31, 2009
Net changes in fund balances - total governmental funds
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the
statement of activities the cost of those assets is allocated over their estimated
useful lives and reported as depreciation expense. This is the amount by which
capital outlays exceeded depreciation in the current period.
Capital asset additions
Depreciation expense
Excess of depreciation over capital outlay
Net effect of various transactions involving capital assets (i.e. sales, disposals)
is to decrease net assets
Some expenses reported in the Statement of Activities do not require the use of
current financial resources and therefore are not reported as expenditures in
governmental funds.
Compensated absences
Net Pension Obligation
Net Other Post Employment Benefits Asset
Internal service funds are used by mangement to charge the costs of certain
activities, such as insurance, telecommunications and fleet services, to
individual funds. The net revenue (expense) of certain internal service funds is
reported with governmental activities.
Internal services used by Enterprise Funds
Change in assets of governmental activities
See accompanying notes to the basic financial statements
$ 7,355,457
24,039,933
(17,793,445)
6,246,488
(2,558,013)
(228,595)
(2,299,370)
291,210
912,147
9,583
$ 9,728,907
34
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
Proprietary Funds
December 31, 2009
ASSETS
Cash and short-term investments
Property taxes receivable
Receivables (net of allowance for uncollectibles):
Accounts
Due from other County funds
Inventory
Other assets
Total Current Assets
Capital Assets:
Land
Improvements other than buildings
Buildings
Machinery and equipment
Accumulated depreciation
Total Capital Assets
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities:
Accounts payable
Accrued liabilities
Due to other County funds
Deferred revenue
Total Current Liabilities
Net Assets
Invested in capital assets
Restricted for:
Workers' compensation
Unrestricted
Total net assets
Some amounts reported for business -type activities in the
statement of net assets are different because certain
internal service fund assets and liabilites are included
with business -type activities.
Net assets of business -type activities
Business -type
Activity
Paramedic
Enterprise
Fund
$ 960,701
1,488,136
2,448,837
48,496
55,728
710,305
1,286,367
(1,089,672)
1,011,224
3,460,061
67,822
299,328
823
367,973
1,011,224
2,080,864
$ 3,092,088
(397,544)
$ 3,489,632
Governmental
Activities
Internal
Service Funds
$ 9,170,486
1,506,012
585,852
16,200
71,813
36,556
11, 386, 919
580,500
1,800,977
32,750,701
(19,942,939)
15,189,239
26,576,158
684,727
1,743,643
2,958
2,476,293
4,907,621
15,189, 239
879,753
5,599,545
$ 21,668,537
See accompanying notes to the basic financial statements
35
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenue, Expenses and
Changes in Net Assets
Proprietary Funds
For the fiscal year ended December 31, 2009
Business -type Governmental
Activity Activities
Paramedic
Enterprise Internal
Fund Service Funds
Operating revenues:
Contributions
Charges for services
Total operating revenues
Operating expenses:
Bad debt expense
Personnel services
Supplies
Purchased services
Insurance and bonds
Depreciation
Other
Claims
Total operating expenses
Operating income (loss)
$ - $ 11,056,492
7,426,884 8,796,968
7,426,884 19,853,460
3,521,859 -
4,293,947 167,766
299,732 1,835,244
903,899 3,932,245
948,696
253,894 2,976,118
28,077 107,690
12,341,260
9,301,408 22,309,019
(1,874,524) (2,455,559)
Nonoperating revenues (expenses):
Taxes - 1,497,239
Miscellaneous 30,820 100
Interest income - 60,236
Fees 12,083 -
Federal grant - 500,000
State Grant 84,750 -
Gain (loss) on disposition of assets 5,225 269,695
Judgements and damages - 40,436
Total nonoperating revenues (expenses) 132,878 2,367,706
Income (loss) before contributions or transfers (1,741,646) (87,853)
Capital contributions
Transfers - in
Changes in net assets
Total net assets beginning of year
Total net assets at end of year
Some amounts reported for business -type activities in
the statement of activities are different because the
net revenue (expense) of certain internal service funds
is reported with business -type activities.
Change in net assets of business -type activities
3,556
1,385,000
1,000,000
(353,090) 912,147
3,445,178 20,756,390
$ 3,092,088 $ 21,668,537
(9,583)
$ (362,673)
See accompanying notes to the basic financial statements
36
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Proprietary Funds
For the fiscal year ended December 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers
Cash flows from internal customers
Cash payments to external suppliers for goods and services
Cash payments to internal suppliers for goods and services
Cash payments to employees for services
Judgements/damages/losses
Miscellaneous revenues
Net cash provided (used) by operating activities
CASHFLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes
Transfers/Advances
Grants
Other
Net cash provided by noncapital financing activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Proceeds from sale of capital assets
Net cash provided (used) for capital and related
Financing activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments
Net Increase (decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of operating income to net cash
provided (used) by operating activities:
Operating income (loss)
Adjustments to reconcile operating income to
net cash provided (used ) by operating activities:
Depreciation expense
Judgements/damages/losses
Miscellaneous revenue
Change in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in
(Increase) decrease in
(Increase) decrease in
Increase (decrease) in
Increase (decrease) in
Increase (decrease) in
Increase (dedrease) in
Total adjustments
Net cash provided by operating activities
due from other funds
inventories
other assets
accounts payable
accrued liabilities
other liabilities
deferred revenue
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Loss on Disposal of Asset
See Accompanying notes to the basic financial statements
Business -type
Activity
Enterprise Fund
Paramedic Services
Governmental
Activites
Internal
Service Funds
$
5,242,769 $
(987,897)
(556,297)
(4,192,916)
(494,341)
800,000
84,750
42,903
927,653
(185,436)
5,225
(180,211)
253,101
707,600
960,701 $
$
$
510,869
19,417,273
(17,960,872)
(191,520)
(366,247)
40,436
100
1,450,039
1,495,839
1,000,000
2,495,839
(3,207,920)
373,362
(2,834,558)
60,236
1,171,556
7,998,930
9,170,486
(1,874,524) $
253,894
1,197,841
197
(48,929)
(23,558)
738
(2,455,559)
2,976,118
40,436
100
(44,102)
280,479
(28,106)
223,955
375,368
(16,502)
97,852
1,380,183 3,905,598
$
(494.341) $ 1.450.939
$
$
(3,556)
15,667
37
COUNTY OF WELD
STATE OF COLORADO
Statement of Fiduciary Net Assets
Fiduciary Funds
December 31, 2009
Weld County
Other Post
Agency Weld County Employment
Funds Retirement Plan Benefits
ASSETS
Cash and cash equivalents
Accounts Receivables
(net of allowances for uncollectables):
Restricted assets
Cash
Common Stock
US Property Fund
Total assets
LIABILITIES AND NET ASSETS
Accounts payable
Due to other governments
Total Liabilities
NET ASSETS
Held in trust for pension benefits
and other purposes
$ 3,426,456 $ - $
1,802
2,151, 776
67,456,392
41,259,478
1,856,115
$ 3,426,456 $ 110,869,448 $ 1,856,115
$ 109,280 $ 53,659 $
3,317,176
$ 3,426,456 $ 53,659 $
See accompanying notes to the basic financial statements
$ 110, 815, 789 $ 1,856,115
COUNTY OF WELD
STATE OF COLORADO
Statement of Changes in Fiduciary Net Assets
Fiduciary Funds
For the fiscal year ended December 31, 2009
Weld County
Other Post
Retirement Employment
Plan Benefits
Additions:
Employer contributions
Employee contributions
Earnings on investments
Net appreciation in fair market value of investments
Total Additions
Deductions:
Actuarial/Trustee fees
Benefit payments
Supplies
Total Deductions
Change in net assets
Net assets - beginning
$ 4,962,224
4,962,224
1,052,694
15,830,719
$
24,761
26,807,861 24,761
60,285
9,720,600
6,270
9,787,155
17,020,706 24,761
93,795,083 1,831,354
Net assets - ending $ 110,815,789 $ 1,856,115
See accompanying notes to the basic financial statements
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
Note 1 - Sunirury of Significant Accounting Policies:
The County of Weld, Colorado ("County") was established in 1861, and on
January 1, 1976, became a hone rule county under the pr ovi s i ons of
Section 30- 35- 501, CRS, 1973. The County oper at es under an elected
c ornri s s i oner form of government. The County provi des the ful 1 range of
services cont empl at ed by statute or charter . These include general
government funct i ons, public protection and safety, health, social
services, human resource services, public improvements, road and bridge
oper at i ons, pl anni ng and zoni ng, and general admi ni s t r at i ve s er vi ces.
The financial stat ement s of the County have been prepared in conformity
with generally accepted accounting principles ( GAAP) as applied t o
government al units. The fol l owi ng suimliry of si gni fi cant accounting
policies is presented to assist the reader in evaluating the Count y' s
f i nanci al statements.
A. Reporting Entity:
W1 d County is a pol i t i cal subdivision of the State of Col or ado, governed
by an elected five -member Board of County Coniii s s i oner s . There are also
four of her elected officials of W1 d County (Assessor, Clerk and
Recorder, District Attorney, and Sheriff).
The acconpanyi ng fi nanci al s t at event s present the government and i t s
component units, entities for which the government is considered to be
f i nanci ally accountable. Bl ended component units, alt hough 1 egal l y
separate entities, are, i n substance, part of the government ' s
operat i ons. Each discretely presented component unit is reported in a
separate column in the government - wide financial statements (see note
below for description) to emphasize that it is legally separate from the
government .
Discretely presented component units:
The Wld County Housing Authority is responsible for assisting Wld
County residents with housing assistance. The Board of County
Commissioners appoints all of the five -member Housing Authority Board.
The County has the ability to remove any of the appointed board Herber s,
they can modify deci sions ons made by the board and can hire or fire persons
responsible for the day t o day operations. The W1 d County Housing
Authority is governed by state regulations, but was designated as part of
the County for budgetary and audit purposes by an act of the Colorado
General Ass errbl y in 1989. A complete set of financial st at event s can be
obtained at the entity's administrative offices:
W1 d County Housing Authority
903 6th Street
Greeley, CO 80631
40
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
The E911 Emergency Telephone Service Aut hor i t y Board was cr eat ed by
intergovernmental agreements pursuant to Article 11 of Title 29, C.R.S.,
as amended, that authorizes the county, municipalities within the county,
and special districts within the county to enter into an agreement for
the purpose of providing 911 emergency telephone services. Per the state
statute cited above, the agreement creates a separate legal entity which
i s responsible for admi ni s t er i ng the oper at i ons of the 911 emergency
t el ephone service program in Val d County. The authority board cons i s t s
of seven members with four selected by the W1 d County Comm ssi oners, one
member each is selected by the City of Greeley, City of Fort Lupton and
W1 d County Sheriff . Under the by -1 aws of E911 Aut hor i t y, VC d County i s
required to pay all operating costs. They are to maintain all accounts
and have accounts audited. St ate statute requires t hat all funds be
maintained by the W1d County Treasurer. The operation of the E911
authority is done contractual 1 y by the Wl d County Com rani cation Regi onal
Cent er. There are no separate financial st at event s prepared for the E911
component uni t
Because t hey pr ovi de s ervi ces t o or otherwise benefit d Count y, the
f i nanci al s t at eimnt s of the f of 1 owi ng or gani zat i ons are bl ended into the
County financial statements:
W1 d County Retirement Plan - The Retirement Board consists of five
members, two selected by participating enpl oyees, two appointed by
t he Board of County Commissioners, and the fifth being the Count y
Treasurer. The County funds half of the retirement pl an, whi ch
covers subs ant i ally all permanent, ful 1 - tine enpl oyees of W1 d
County. The operation of the plan is accounted for in the W1d
County Retirement Fund, as a Pension Trust Fund. Complete Fi nanci al
statements can be obtained at the Veld County Treasurer's Office:
Veld County Treasurer's Office
1400 North 17th Avenue
Greeley, CO 80631
V�1 d County Fi nance Corporation - The Mel d County Fi nance
Corporation ("Corporation") was formed in 1987 as a not -for-profit
corporation under section 501(c)( 4) of the Internal Revenue Code, and
exists solely to acquire real estate and construct buildings for
1 ease to the County. The Board of County Comm s s i oners appoints the
t hr ee- member Board of Directors of the Corporation, and approves all
proj ects undertaken by the Corporation. The members of the Board of
Direct ors are errpl oyees of the Count y. There are no s epar at e
f i nanci al statements prepared for the Val d County Finance
Corporation.
41
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
The Law Enf or cement Authorities ( LEA) were i n accor dance wit h
Section 30-11-401, CRS. The law enf or cement aut hor i t i es are a
t axi ng units created by the county t o provide additional law
enforcement service by the county sheriff to resi dents in a
developed unincorporated area of the county. The governing board of
t he law enforcement aut hor i t i es i s the five W1 d Count y
Commissioners. Law enf or cement services t o the aut hor i t y are
provided contractually by the county sheriff. There are no separate
financial statements prepared for the Law Enforcement Authorities.
The Local Improvement Districts (LID) have not been included in the
County's financial statements individually, as they are iniraterial,
but are included as a blended component unit of Public Vorks, a
special revenue fund. The Board of County Comni s si oner s can create
these assessment districts to construct or rehabilitate and finance
public streets, storm drainage, water systems, sanitary sewer, or
street lighting. The Primary purpose of an LID is to assess the
costs of public improvements to those who are specially benefited by
t he improvement . The LID exists only as geographic area wi t hi n
which i rrprovernent s are constructed and as an admi ni strati ve
subdivision of the county. Having no board of directors, they do
not operate i n any capacity as an independent government al entity.
The county governing board, Board of County Commissioners, makes all
decisions on behalf of this admi ni s t rat i ve entity. There are no
separate financial s t at errant s prepared for the Local I mpr ovenent
Districts.
The f of 1 owi ng r el at ed or gani zat i ons are excluded from the acconpanyi ng
financial s t at events because the Count y' s account ability for these
or gani zat i ons does not extend beyond various appointments.
North Color ado 1Vtdi cal Cent er - The Board of County Commissioner s
owns land underlying the main facility of the 1Vhdi cal Center, which
land is currently leased to the Colorado Hospital Finance Authority
as part of the security for financing the bonded indebtedness of the
1Vhdi cal Center. The indebtedness is not an obligation of the Board
of County Comni s s i oner s and no taxpayer funds or Board of County
Comri s s i oner s funds are obl i gated to pay any portion of the
principal, pr eni um or interest on the Bonds. The land i s leased
back from the Authority to the Board of Trustees, a seven nenber
Hospital Board of Trustees appointed by the Board of Count y
Commissioners. The Hospital Board of Trustees has entered into an
operating sublease of the ground and facilities with NClC, Inc., a
501(c) (3) ent i t y, with three of its members also serving on the Board
of Trustees, whi ch, i n t urn, has cont r acted with Banner Heal t h
Systems to operate the Adi cal Center . NCNC has the ability to
i ncur its own debt and its oper at i ons are financed totally by
patient revenues .
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
Greeley-Wld Airport Authority - The County Commissioners appoint
t vco of the five Airport Authority Board nenbers. . The County has
contributed appr oxi mat el y 5% of the funds for capital construction.
The Authority has ful 1 aut onony under Color ado State 1 aw, can incur
debt, and funds it operations totally from user fees.
V�1 d Library District - The County Conmi s s i oner s, t oget her with the
concurrence of the city counci 1 s of seven part i ci pat i ng
mini ci pal i ties, appoint the s even- member Li brary y District Board.
The Library District Board has total aut onony under the St at e
Library Act t o incur debt , establish budgets, and 1 evy pr oper t y
taxes to support the District's library system
Col or ado Counties Casualty and Property Pool ( her ei naf t er referred
to as "CAPP" - CAPP was f orrned July 1, 1986, by an i nt er gover nrnent al
agreement by rnerrber counties as a separate and independent
government al and 1 egal entity pursuant t o the provisions of Art i cl e
XI V, Section 18(2) of the Colorado Constitution and Section 29-1-201
et seq, 24- 10- 115. 5, and 29-13-102, CRS, as amended. Each member
county in this i nt er government al agr eement has the power under
Col or ado 1 aw t o make provision for the property and casual t y
coverage which constitute the functions and services joint 1 y
provided by means of the CAPP. The Insurance Comm s s i oner of the
State of Colorado has such authority with respect to the CAPP as is
provided by applicable Colorado statutes .
The purposes of the CAPP are to provide a risk management fund for
defined property and casualty coverage and to assist members in
control 1 i ng costs by provi di ng speci al i zed governmental risk
management services and syst
t
It is the intent of the 'withers to use neither contributions to
defend and indemnify, in accordance with the byl aws, any member
against states liability or loss to the limit of the financial
resources of the risk management fund. It is also the intent of the
member s to have CAPP provide needed cover age at r eas onabl e costs.
All income and assets of CAPP shall be at all tines dedicated to the
exclusive benefit of its members. Vhld County, through its
I nsur ance Internal Service Fund, recognizes an expense for the
amount paid t o CAPP annual 1 y for these coverages.
V�1 d County is a charter member of CAPP and has been a continuous
member since July 1, 1986.
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended Deceirber 31, 2009
B. Government -wide Financial Statements:
The Count y' s basic financial s t at errent s consist of gover fluent - wi de
statements, i ncl udi ng a statement of net assets and a s at event of
activities, and fund financial statements which pr ovi de a nmr a detailed
level of financial i of or mat ion. The government - wide focus is more on the
sus ai nabi l i t y of the County as an entity and the change in aggregate
financial position resulting from activities of the fiscal period.
The statement of net assets and the statement of activities display
i of or mat ion about the county as a whole. In the gover nment - wi de
st at event of net assets, both the government al and business - type
activities columns are presented on a consolidated basis by col urm.
These statements include the financial activities of the pr i nary
government , except for fiduciary activities. For the rmst part, the
e ffect of i nt er fund activity has been renoved from these st at event s.
Governmental activities, whi ch normally are supported by taxes and
i nt er gover nment al revenues , are reported s epar at el y from business -type
activities, which rely to a significant extent on fees and charges for
support .
The government -wi de st at event of activities reflects both the direct
e xpenses and net cost of each function of the County's government al
activities and bus i nes s-1 i ke activity. Direct expenses are those that
are clearly identifiable with a specific function. Program revenues
include charges paid by the recipient for the goods or services offered
by the program Direct expenses and program revenues resulting from
interfund activity are treated as such in the participating funds and are
not el i rni nat ed as part of the consol i dat i on process . Gant s and
cont r i but i ons t hat are r es t r i ct ed t o meet i ng the operational or capital
✓ equi r enEnt s of a part i cular program and interest earned on grants that
is required to be used to support a particular program are included in
operating gr ants and cont r i but i ons , or capital grants and cont r i but i ons .
Revenues which are not classified as program revenues are presented as
general revenues of the County, with certain limited exceptions. The
compar i son of direct expenses with program revenues i dent i f i es the ext ent
to whi ch each government function or busi ness segment is sel f -financing
or draws from the general revenues of the County.
Fund Financial Statements
The financial trans act i ons of the County are recorded i n i ndi vi dual
funds. A fund is defined as a fiscal and accounting entity with a sel f-
bal anc i ng set of accounts that comprise its assets, liabilities, fund
e quity, revenues, and expenditures or expenses, as appropriate. Separate
statements for each fund cat egor y - governmental, proprietary, and
fiduciary - are presented. The enphasi s of fund financial stat at ement s is
on naj or government al and enterprise funds, each displayed in a separate
col urm. All remaining governmental and enterprise funds are aggregated
and presented as non- rraj or funds.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Proprietary funds distinguish operating revenues and expenses from
nonoperating i t errs. Operating revenues and expenses generally resul t
from providing services and producing and delivering goods in connection
with a proprietary fund's principal ongoing operations. The pr i nci pal
operating revenues of the Par arredi c enterprise fund and of the
government's internal service funds are charges t o customers for sales
and services. Operat i ng expenses for enterprise funds and internal
service funds include the cost of sales and services, administrative
e xpenses, and depreciation on capital assets. All revenues and expenses
not meeting this definition are reported as nonoperating revenues and
e xpenses.
C. Measurement Focus
Government -wide, Proprietary and Fiduciary Fund Financial Statements
The government - wide financial statements are reported using the economic
resources measurement focus and the accrual basis of account i ng, as are
t he proprietary fund and fiduciary fund statements. Revenues are
✓ ecorded when earned and expenses are recorded at the time l i abi l i t i es
are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the County gives (or receives) value
without direct 1 y receiving ( or gi vi ng) equal value i n exchange, include
property t axes, grants, and donations . Revenues from property t axes ar e
✓ ecognized in the fiscal year for which the taxes are levied. Revenue
from grants and donations is recognized in the fiscal year in which all
e ligibility r equi r enrnt s have been satisfied.
Under the terns of grant agreements, the County funds certain program by
a combi nation of specific cost -rei mbursement grants, cat egori cal block
grants, and general revenues. Thus, when program expenses are incurred,
t here are both restricted and unrestricted net assets available t o
finance the program It is the County's policy to first apply cost -
reimbursernent grant resources to such program, followed by categorical
block grants, and then by general revenues.
Government al fund financial st at errent s are reported using the current
financial resources measurement focus and the rmdi fi ed accrual basis of
account i ng. Revenues are recognized as soon as they are both measur able
and avai 1 abl e. Revenues are cons i der ed to be available when they are
collectible within the current period or soon enough t hereafter t o pay
liabilities of the current period. For this purpose, the government
considers revenues to be available if they are collected within 60 days
of the end of the current fiscal per i od. Expenditures generally ar e
recorded when a liability is incurred, as under accrual accounting.
However expenditures related t o corrpens at ed absences and claim and
j udgnent s, are recorded only when payment i s due.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Property taxes, licenses, and interest associated with the current fiscal
period are all considered to be susceptible to accrual and so have been
recognized as revenues of the current fiscal period. Only the portion of
special assessments receivable due within the current fiscal period is
considered to be susceptible to accrual as revenue of the current period.
All other revenue i t erns are considered t o be measurable and avai l abl e
only when cash is received by the gover nrnent .
All gover nrrent al and business- type activities and enterprise funds of the
County f of 1 ow only FASB Statements and I nt erpr et at i ons issued on or
before, not after , November 30, 1989, Accounting Pr i nci pl es Board
Opi ni ons, and Accounting Res ear ch Bullet i ns, unless t hose pronouncement s
conflict with GASB pronouncements .
The County reports the f of 1 owi ng maj or governmental funds :
The General Fund is the general operating fund of the County which
accounts for all financial resources that are not accounted for in
of her funds. Oper at i ons of the County such as public safety,
pl anni ng and zoni ng, property valuation, tax collect i on and
distribution, vehicle licensing, County admi ni s t rat i on, and of her
activities financed from taxes and general revenues are reflected i n
t his fund.
The Public Works Fund records costs related to County road and
bridge construction and maintenance except for engineering, which is
recorded in the General Fund. By State law, Colorado counties are
required to maintain a Road and Bridge Fund and a portion of road
and bridge taxes is allocated to cities and towns for use in their
road and street activities.
The Social Services Fund admi ni s ers hunan services programs under
state and federal r egul at i ons . Pr ogr arras include, but are not
limited to, Nbdi cai d, Food St amps, Foster Care programs, and
Temporary Assistance to Needy Fanilies (TANF). Colorado counties
are required by state law to maintain a Social Servi ces Fund.
The Human Services Fund pr i mar y pr ogr arcs are
kforce Investment Act (WA) funded under the
Errpl oyment and Tr ai ni ng Admi ni s t r at i on. They
t he Head St art pr ogr ams . As of December 31,
programs were r el i nqui shed back t o the federal governrrent.
.
associated with the
Lepart nent of Labor,
also administer all
2009 all Head Start
The Contingent Fund records any property tax revenue 1 evi ed by the
Board of County Commissioners to cover reasonably unforeseen
expendi t ur es.
The Capital Expenditures Fund accounts for all the Count y' s
construction projects. The County chooses to use the pay as you go
plan instead of debt . Property t axes are used t o fund the Law
Enf or c event Center and the expansi on of the Det ent i on Center.
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
The County reports the f of l owi ng naj or enterprise fund:
The Paramedic Fund operates the par anedi c services for the County,
which is primarily funded by revenues for services rendered.
The County also reports the following fund types:
The Internal Service Funds account for the financing of goods or
services provided by one department or agency to other depar t rnent s
or agencies of the County on a cost r ei mbur sement basis . The
County's internal service funds report on self - i nsur ance programs
for errpl oyee health, dent al and vision benefits, risk nanagerrent ,
unemployment, fleet services, teleconninicat ions and acquisitions of
✓ eal estate and construction of buildings used by Count y
depart Want s.
Services pr ovi ded and used by internal services funds are not
e ntirely el i mi nat ed from the gover nment - wi de statement of
activities . The primary government program expenses and expenses
for the business -type activities on the government -wi de statement of
activities are decreased t o el i mi nat a revenue over expenditures i n
service funds where revenues exceed expenditures and increased to
e liminate internal service funds that have expenditures in excess of
✓ evenues.
The Agency Funds account for assets held by the County as an agent
for indivi vi duals, private or gani zations ons and other governments. These
funds are cust odi al in nature (assets equal liabilities) and do not
i nvol ve neasur ernent of results of operations. The County has funds
hel d for of her 1 ocal gover nnent al units, empl oyee/ empl oyer payr of 1
taxes and a Section 125 plan.
The Fiduciary Trust Funds account for the activities of the Val d
County Retirement PI an and the WI d County Ot her Post Empl oyment
Benefit P1 ans. These funds accunul at e r esources for pension
benefit , and of her post empl oyment benefit payments t o qualified
county empl oyees. The Plans use the accrual basis of accounting.
Errpl oyee and empl oyer cont r i but i ons are r ecogni zed as revenues i n
the period i n which the cont r i but i ons are due. Benefits and refunds
are recognized when due and payable in accordance with terms of the
Plan.
47
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
D. Assets, liabilities, and net assets or equity
1. Deposits and investments
The W1 d County Treasurer maintains a cash and investment pool t hat i s
available for use by all County funds except for some agency funds. Each
fund's portion of this pool is displayed as "cash and cash equivalents".
Accrued interest recei vable is displayed s epar at el y. The armunt of
interest gained through secured investments is credited to the County's
General Fund per Col or ado St ate St at ut es, with the exception of the
Cons er vat i on Trust , Capital Expenditures Fund, Li ability Insurance Fund
and E- 911 Authority. "Cash and cash equivalents" for the General Fund
Cons er vat i on Trust, Capital Expenditures Fund, Liability Insurance Fund
and E- 911 Authority are stated at fair value. Any bank accounts not
maintained by the Treasurer are displayed as "Restricted Assets" within
the appropri i ate fund and are stated at cost.
The County consi der s cash and cash equivalents in proprietary funds to be
cash on hand and demand deposits. In addition, because the treasury pool
is sufficiently liquid to permit withdrawal of cash at any tine without
prior notice or penalty, equity in the pool is also deemed to be a cash
equivalent.
For the purpose of cash flows, cash and cash equivalents are determined
by original nat ur i t y of three rmnt hs . Investments are reported at fair
values using quoted market prices .
2. Property Taxes:
Property t axes attach as an enforceable lien on property as of January 1.
Taxes were levied on Decenber 21, 2009, and are payable either in two
i ns t al 1 Went s due on February 28 and June 15 or in full on April 30. The
bill becomes delinquent on Mr ch 1, My 1, and June 16 and penalties and
interest nay be assessed by the County. The County, through the Wld
County Treasurer, bills and collects its own property taxes, as well as
property t axes of al 1 other taxing authorities within the County. I n
accordance with Section 14-7 of the W1 d County Hone Rule Charter, all
ad valorem tax levies for County purposes, when applied to the total
valuation for assessment of the County, shall be reduced so as t o
prohibit the levying of a greater armunt of tax revenue than was levied
from ad val or em taxation i n the preceding year plus five percent (5°4,
except to provide for the payment of bonds and interest. The Board of
County Conti s s i oner s nay submit the question of an increased levy to the
County Council and, if in the opinion of a maj or i t y of the County Counci 1
nay grant an increased levy for the County in such armunt as it deems
appropriate, and the County is aut hor i zed t o rake such increased l evy.
Any one capital project requiring a capital expendi t ur e out of funds
procured by ad valorem taxation equal to a three Ili 1 1 levy for three
years, s hal 1 be prohibited unless approved by a maj or i t y vote of the
qualified electors at a general or special election per Section 14-8 of
t he W1 d County Home Rule Charter .
48
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
3. Interfund Transactions
Transact i ons between funds t hat woul d be treated as revenues,
expenditures, or expenses if they involved organizations ext er nal to the
County are accounted for as revenues, expenditures, or expenses in the
funds involved. Transactions whi ch constitute reimbursement s of a fund
for expenditures or expenses initially made from t hat fund milli ch ar e
proper 1 y applicable t o anot her fund are recorded as expenditures or
e xpenses in the reimbursing fund and as reductions of the expenditure or
e xpense in the fund that is r ei nbur s ed. At year end, out s t andi ng
bal ances bet wen funds are reported as "due t o/ from other funds".
Interfund balances are generally expected to be repaid within one year of
t he fi nanci al statement date. Any r esi dual bal ances out st andi ng between
the governmental activities and business -type activities are reported in
t he government - wi de f i nanci al statements as "internal bal ances" .
4. Inventories and Prepaid Items
Invent ones of government al funds, whi ch consist of expendable nut er i al s
held for consumption, are stated at cost ut i 1 i zi ng the wei ght ed aver age
cost net hod. These funds fol 1 ow the consumption net hod of accounting
whereby expenditures are recorded at the t i ne the inventory items ar e
used.
Inventories of proprietary funds are recorded at average cost.
Certain payments t o vendors reflect cost applicable t o fut ure accounting
per i ods and are recorded as prepai d i tens i n both government - wi de and
fund financial statements.
5. Capital Assets
Capital assets, whi ch include property, pl ant equipment , and
infrastructure assets (e.g., roads, bridges and similar iterrs) , are
reported i n the applicable government al or business - type activities
col urms i n the government -wi de fi nanci al statements. Capital assets are
defined by the County as assets with an initial, individual cost of mare
than $5, 000 and a useful 1 i f e of Imre than one year. All capital assets
are valued at hi st or i cal cost or est i mated hi st or i cal cost i f actual
historical cost is not available. Donated capital assets are recorded at
e st i mated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value
of the asset or materially ext end assets' lives are not capitalized.
49
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
All reported capital assets, except for gravel roads are depreci at ed.
I rrpr ovenent s are depr eci at ed over the r enai ni ng useful 1 i ves of the
related capital assets. Depreciation on all assets is provided on the
straight-line basis over the following estimated useful lives:
Bui 1 di ngs
I npr overrent s
Infrastructure
Infrastructure
Equi prnent
Heavy Equi pment
— Bridges
— Roads
20- 50 year s
20 years
50 years
20 years
3-5 years
10- 20 years
Statement 34 al 1 ows an alternative approach whi ch would reflect a
reasonable value of the asset and the cost incurred t o maintain the
service pot ent i al to locally established mini num standards in lieu of
depreciation. To elect this option, the County mist devel op and
i npl ement an asset management syst em which measures, at least every third
year by class of asset, if the mini mum standards are being maintained.
Related disclosures are additionally required as part of the Required
Supplement ary I of or mat i on. The County has elected to use the alternative
approach only for gravel roads.
6. Compensated Absences
County employees accunul at a sick leave and vacation benefits at rates of
8 hours per nont h and 8 to 16 hours per rmnt h, respectively, depending on
length of servi ce. In the event of retirement or ternination, an
enpl oyee is paid 100% of accumil at ed vacat i on pay. An enpl oyee whose
date of hire is prior to January 1, 1985, is paid for 50% of accumil at ed
sick 1 eave hours up t o the equi val ent of one rmnt h; i f the enpl oyee' s
date of hire is after January 1, 1985, no sick leave is paid upon
retirement or t er ni nation. Up to 320 hours of annual vacation nay be
carried over from one year to the next. Conpens at or y time is granted
( except for official , professional , and adn i ni s t rat i ve positions) at the
rate of one and one- half hours for each overtime hour worked, not to be
accumul at ed i n excess of forty hours.
The unpaid sick leave, vacation pay and related benefits at the end of
t he period wi l l generally not be paid with expendable and avai 1 abl e
resources. Proprietary funds accrue sick leave, vacation pay and related
benefits in the period they are earned by the employees.
The entire compens at ed absence liability is reported on the government -
wi de financial st at events. Expenditures and 1 i abilities for compensated
absences are reported on the gover nnent fund st at event s only when the
1 i ability for the compensated absences becomes due.
7. Long-term obligations
In the government - wi de financial st at ement s and pr opr i et ary fund types i n
t he fund f i nanci al st at event s, 1 ong- term debt and of her 1 ong- ter m
obligations are reported as liabilities in the applicable gover nrrent al
activities, business -type activities, or proprietary fund type statement
of net assets.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
S. Fund Equity
In the fund f i nanci al s t at errent s , governmental funds report reservations
of fund balance for antunt s t hat are not avai 1 abl a for appropriation or
are legally restricted by outside parties for use for a specific purpose.
Des i gnat ions of fund balance represent tentative management plans t hat
are subject to change.
Reserves for the County of Weld are recorded up to the maxi mum equity
avai 1 abl e in fund balance and consist of:
Reserved for Encumbrances:
These reserves are est abl i shed t o record purchase or der s and
c onmi t ment s out s t andi ng for whi ch the related goods/ services have
not been received at year end. The reserves recorded at December
31, 2009, include $171, 796 $55, 498, and $2, 426, 515 for the General
Fund, Speci al Revenue Funds, and Capital Expenditures Funds,
respectively, for a total of $2, 653, 809.
Reserved for Other Assets:
These reserves are est abl i shed to record all prepaid i t erns.
Recorded reserves at Decenber 31, 2009, are $532, 377 and $29, 414 for
the General Fund and Special Revenue Funds respectively, for a total
of $561, 791.
Reserved for Inventories:
These reserves are established to record the total level of supply
i nvent ones. Recorded reserves at December 31, 2009, are $142, 635
and $1, 350, 291 for General Fund and Special Revenue Funds
respectively, for a total of $1, 492, 926.
Reserved for Emergencies:
The reserve for ever genci es as required by Section 20 to Article X
of the Col or ado Constitution, also known as the Taxpayer's Bill of
Rights (TABOR) is classified as restricted assets on the balance
sheet. Reserved at Decenber 31, 2009 is $6, 000, 000, all recorded in
a Special Revenue Fund
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
Designated Fund Balance:
Fund balance des i gnat ed for of her des i gnat i ons . Por t i ons of
unreserved fund balance nay be desi gnat ed t o i ndi cat a tent at i ve
plans for financial resource utilization in a future period. Such
plans or intent are subject t o change and have not been 1 egal 1 y
aut hor i zed, or may not result i n expenditures . Fund balance
des i gnat i ons i nc 1 ude:
Personal property Tax Credits: the funds are designated to be
used t o fund personal tax credits as incentives t o pr i vat e
compani es t o 1 ocat a or expand operations within the count y.
The tax credits mist be appropriated in a given year in order
to be granted and expended. A total of $3, 592, 952 has been
des i gnat ed i n the general fund for utilization i n fut ur e
periods with $247, 970 appropriated i n 2010.
Subsequent year's expenditures : represents fund balance
commitments for appropriated expenditures i n excess of
anticipated revenue for the year ended December 31, 2009.
9. Net Assets
Net assets represent the difference between assets and liabilities. Net
assets invested in capital assets, net of related debt consists of
capital assets, net of accumulated depr eci at i on, reduced by the
out st andi ng bal ances of any borrowing used for the acquisition
construction of i rrpr ovement s of those assets. Net assets are reported as
restricted when there are 1 i mi t at i ons imposed on their use either through
t he enabling 1 egi s 1 at i on adopted by the County or through external
rest r i ct i ons imposed by creditors, grantors, laws or r egul at i ons of of her
government s.
The County first applies restricted resources when an expense is incurred
for purposes for which both restricted and unrestricted net assets are
avai 1 abl e.
10. Estimates
The preparation of financial s t at event s in conformity with general 1 y
accepted accounting principles requires management t o rake es t i mates and
assunptions that affect the armunts reported in the financial statenents
and accompanying notes. Actual results nay differ from those estinut es.
52
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Note 2 - Stewards hip, Compliance, and Accountability
A. Budgetary information
An annual budget and appropriation ordinance is adopted by the Board of
County Commissioners in accordance with the Colorado State Budget Act and
W1 d County Home Rule Charter . The budget i s prepared on a bas i s
consistent with generally accepted accounting principles. Budgets ar e
e st abl i shed for all Cover nnent al funds, Internal Service funds and the
Enterprise Fund. The accounting syst em i s enpl oyed as a budget ary
management cont r of device during the year t o rmni t or the i ndi vi dual
departments. The fund level is the level of classification at which
e xpenditures nay not 1 egal 1 y exceed appr opr i at i ons, except for the
General Fund where the department 1 evel of expenditures cannot 1 egal 1 y
e xceed appr opr i at i ons. During the year, several suppl ernent al
appr opr i at i ons were necessary. Al l annual appr opr i at i ons 1 apse at year
e nd.
The Director of
budget ed armunt s
alter the total
depart rnent mist
suppl ernent al
appr opr i at i on
acconpanyi ng
appr opr i at i ons.
B. Excess of expenditures
Finance and Administration
within departments of
appropriation for a
be approved by the
appr opr i at i on or di nance.
ordinances were enacted.
financial s at event s
i s aut hor i zed to transfer
each fund. Any revi si ons t hat
fund or for any General Fund
County Commissioners through a
During 2009, two suppl ernent al
Budget armunt s reported i n the
reflect these suppl ernent al
over appropriations
Excesses of expenditures over appropriations in General Fund departments
can be seen by unfavorable variances in the expenditures section of the
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget
and Actual .
Solid Waste Fund (Special Revenue Fund) had excess of expenditures over
appr opr i at i ons. These can be seen on the St at ement of Revenue,
Expenditure and Changes in Fund Balance - Budget and Actual.
Expenditures exceeded appr opr i at i ons i n the Law Enf or cenent Authority
funds (Special Revenue) . The excess expenditures in the law enforcement
funds were a result of excess funds being available at the end of the
year. The purpose of the law enforcement authorities is to collect taxes
to fund law enforcement services in unincorporated parts of Meld County
and any excess funds can be used to offset the cost of law enforcement.
Expenditures exceeded appr opr i at i ons i n the Par arnedi c Fund (Enterprise
Fund) . The excess expenditures can be at t r i but ed t o i ncr eases i n
depreciation as well as the write off of uncoil ect i bl a accounts, two non -
cash expendi tures.
53
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Expenditures exceeded appropriations i n the Insurance Fund ( I nt ernal
Service). Insurance claims for 2009 were higher than expected causing
expenditures t o exceed appropriations .
Expendi tures i n the Phone Service Fund (Int ernal Servi ce) . The excess
expenditures over were funded by greater than expected revenues and wi l l
be corrected in 2010.
Note 3 - Equity in Pooled Cash and Investments :
A. Cash and Investments
Cash and investments at Decenber 31, 2009, consisted of the following:
Deposits/ Cash on Hand
Cth
I nvest ment s: FFCB 21, 000, 000
FHLB 12, 999, 000
FILM 5, 992, 500
FNLVA 25, 992, 500
$ 14, 834, 952
401, 759
65, 984, 000
Total $ 81, 220, 711
Cash and i nves t imnt s at December 31, 2009 reported in government - wi de and
agency funds consisted of the fol 1 owi ng:
Government - wi de
Agency funds
Total
B. Deposits
$ 70, 125, 858
11, 094, 853
$ 81, 220, 711
The Colorado Public Deposit Protection Act (PDPA) requires that all local
governments deposit cash in eligible public depositories. Eligibility is
det ermi ned by state regulations. The State regul at or conmi ssi oners
regulate the eligible public depositories. Atmunt s on deposit in excess
of federal insurance levels nust be collateralized by eligible col 1 at er al
as det ermi ned by the PDPA PDPA allows the financial institutions t o
create a single collateral pool for all public funds held. The pool is to
be mai nt ai ned by anot her institution, or held in trust for all the
uninsured public deposits as a group. The market value of the col l at er al
mist be at least equal to 102% of the uninsured deposits. At December 31,
2009, the County had deposits of $15, 230, 295 col 1 at er al i zed wit h
securities held by the financial institutions' agents but not i n the
County name.
54
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
C. Investments
The County is required to comply with St ate statutes whi ch specify
investment instruments meeting defined rating, maturity, custodial and
concentration risk criteria in which local governments nay invest
i ncl udi ng:
Obl i gat i ons of the United States and certain U S. Agency securities
4 Certain international agency securities
4 General obligation and revenue bonds of U. S. local gover nimnt
entities
Banker's acceptance of certain banks
4 Conner ci al paper
4 Witten repurchase agreements collateralized by certain authorized
securities
4 Certain rmney market funds
4 Guaranteed investment contracts
4 Abney Mrket Funds i n Bank Account
The County has no pr ovi s i ons in its invest went policy that would further
1 i mi t investment choices. At December 31, 2009, the County had the
f of l owi ng i nves t ment s:
Investment Ivkturities (in Years)
1 or less $ 0
1 - 3 yrs. 401, 759
3 — 5 yrs. 65, 984, 000
$66, 385, 759
Abney Market $14, 828, 536
Total $81, 214,295
D. Credit Risk
State st at ut es limit investments in U.S. Agency securities to the highest
rating issued by nationally r ecogni zed statistical rating organizations
( NRSRO1 ) . At December 31, 2009, the County i nves t rnent s in the Federal
Hone Loan Bank, Federal Nat i onal Nbr t gage As s oci at ion, and Federal Farm
Credit Bank were rated AAA by Standard & Poor' s. 1Vbney 1Vhrket Funds were
managed by Wells Fargo Bank in accordance with state regulations pledged
at 102% Government Guaranteed Bonds and are AAA rated.
E. Concentration of Credit Risk
State statute does not limit the annunt the County nay invest in one
issuer . At December 31, 2009, the County's investments i n Federal
National 1Vbr t gage Ass oci at i on, Federal Hone Loan Bank, Federal Farm
Credit Bank, and Federal Hone Loan Nbr t gage represented 39°/9 20°/9 32°/9
and 9°/Q respectively of the County's total i nves t rnent s .
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
F. Interest Rate Risk
State St at ut es unit the maxi mum maturity date unl es s an exception is
made by the county commissioners, which does not exist at the present
tine, to five years. The average duration in the portfolio on Dec ember
31, 2009 was 3. 7 years. This factor combined with the hi gh quality credit
risk of the portfolio limit interest rate risk to a very small percentage
of the portfolio. In fact , at year end the average mar k- t o -the -market
was within one percent of the county's basis .
G. Money Market Funds in Bank Account
The County had $16, 593, 315 invested in overnight pooled rmney with W11 s
Fargo on December 31, 2009. The County's investment in at Wells Fargo is
a direct obligation of the bank and the funds are maintained in a money
market account ear ni ng a negotiated rate if return. The col 1 at er al for
t his account is in an undi vi ded i nt er est agai nst a pool of U S.
Government securities neet i ng the PDPA r equi r event s of the State of
Col or ado, which is admi ni s t er ed under the State's Banki ng Di vision. The
Fair value of all of the funds shares are the sane and are priced at one
dollar and are 1 i qui d dai 1 y. A des i gnat ed custodial bank pr ovi des
safekeepi ng and depository services in connection with the direct
i nvest ment and withdrawal functions . Subs t ant i ally all securities owned
are held by the Federal Reserve Bank in the account nui nt ai ned for the
cust odi al bank. The cust odi an' s internal records identify the invest rnent s
owned by the par t i ci pat i ng governments.
H. Restricted Cash
The Decenber 31, 2009 restricted cash balance of $355, 562 is made up of
$65, 000 advanced to cover insurance claims, $258, 765 that mist be used i n
accordance with the Conservation r egul at i ons set by the lottery authority
and $31, 797 held by the Law enforcement authorities.
I. Component Units
The carrying balance of the Housing Aut hor i t y' s cash deposits was
$1, 946, 066 at December 31, 2009. Bank and invest rent balances before
reconciling i t errs were $1, 947, 784 at that date, the total armunt of which
was collateralized or insured with securities held by and unaffiliated
banki ng institutional the Aut hor i t y' s name.
Deposits consist of the following:
Checking, rmney Market and savings account $1, 946, 066
Restricted cash consists of tenant section 8 HAP reserves and escrow.
The available cash balance of $3, 827, 179 for the E911 authority is
i ncl uded i n the Agency Cash balance of $11, 094, 913 held at the W1 d
County Treasurers Office listed above.
56
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decerrber 31, 2009
Note 4 - I nt er fund Trans actions
Due to/from other funds:
The county reports i nt erfund balances between nany of its funds. Sorrm of
the balances are consi der ed i mat er i al and are aggregated into a single
col turn or row. The sum of all balances presented in the table agrees
with the sum of i nt erfund balances presented in the balance sheet for
government al and proprietary funds. The balances resulted from the t i ne
lag bet ween the dates that (1) i nt er fund goods and services are provided
or reimbursable expenditures occur, (2) transactions are recorded in the
accounting system and (3) payments between funds are nade. I nt erfund
balances are generally expected t o be repaid within one year of the
financial statement date.
Receivable Fund
General
Publ i c
Social
Vdrks
Servi ces
Hunan Servi ces
Payable Fund
Public Works
Social Servi ces
Hunan Services
Capital
Non- Mj or Governmental
Internal Service
Enterprise Fund
General
General
Human Services
Social Servi ces
Internal Service Fund
Non- Mij or Governmental General
Internal Service
General
Public \Mr ks
Social Servi ces
Hunan Services
Non- Mj or Government
Enterprise
$ 15, 711
29, 964
15, 508
37, 768
41, 320
2, 158
324
6, 650
466
38, 727
285, 983
800
1, 318
8, 700
2, 000
1, 300
3, 200
500
500
$492, 897
57
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Transfers in/out:
Transfers are indicative of funding for capital projects or subsidies of
various County operations and r e- al 1 ocat i on of special revenues . The
following schedule briefly sunmirizes the County's transfer activity:
Transfer To:
General Fund
Social Services
Hunan Services
Capital
Non- Mj or Cover nrrent
Enterprise
Internal Service
General
Fund
$2, 260, 810
12, 351
500, 000
3, 217, 562
1, 385, 000
1, 000, 000
8, 375, 723
Transfer From
Cont i ngent Non- Mj or
Fund Cover nnent
1, 000, 000
0
1, 000, 000
Note 5 - All owance for Uncol 1 ect i bl e Accounts Recei vabl e:
$85, 000
507, 909
Total
$85, 000
2, 260, 810
12, 351
500, 000
4, 725, 471
1, 385, 000
0 1, 000, 000
592, 909 9, 968, 632
The allowance for uncol 1 ect i bl e receivables consists of the following at
December 31, 2009:
Fund Type
General
Public Works
Social Services
Cont i ngent
Capital Expenditures
Enterprise
Internal Service
Total
Allowance for
Uncol 1 ect i bl e
$ 117,021
15, 987
12, 559
287
17, 124
966, 724
4, 294
$ 1 133, 996
58
COUNTY OF WELD
STATE OF COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2009
Note 6 - Capital Assets:
Capital asset activity for the year ended December 31, 2009, was as follows:
Beginning
Balance
Governmental activites
Capital Assets not being depreciated
Land and water rights
Gravel Roads
Construction in progress
Total capital assets not being depreciated
Capital assets being depreciated:
Buildings
Improvements
Equipment
Infrastructure
Total capital assets being depreciated
Less accumulated depreciation
Buildings
Improvements
Equipment
Infrastructure
Total accumulated depreciation
Total capital assets being depreciated, net
Governmental activities capital assets, net
Business -type activities:
Capital Assets not being depreciated
Land
Capital assets being depreciated:
Buildings
Improvements
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Buildings
Improvements
Equipment
Total accumulated depreciation
Total capital assets being depreciated, net
Business -type activities capital assets, net
Housing Autority
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Equipment
Total accumulated depredation
Total capital assets being depreciated, net
Housing Authority capital assets, net
E-911 Assets:
Capital Assets not being depreciated
Construction in progress
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Equipment
Total accumulated depredation
Total capital assets being depreciated, net
E-911 capital assets, net
$ 8,265,907
9,270,134
5,156,544
22,692,585
106,785,368
7,996,242
43,746,166
295,474,850
454,002,626
25,886,987
2,273,464
25,411,098
170,113,965
223,685,514
230,317,112
$_251029,12917
$ 48,496
710,305
55,728
1,140,634
1,906,667
358,657
50,004
470,377
879,038
1,027,629
$_:_1,_011125
$ 39,866
39,866
26,322
26,322
13,544
$ 13,534
2,424,838
2,424,838
678,369
678,369
1,746,469
$ 1,746,469
Increases
$ 225,785
1,101,899
3,107,472
4,435,156
11,255,035
3,617,419
13,031,760
Decreases Transfers In (Out)
$ 89,706 $
81,054
5,075,399
5,246,159
1,306,081
585,135
1,909,733
4,279,203
27,904,214 8,080,152
2,511,899
278,384
3,959,367
14,019,913
20,769,563
7,134,651
924,392
240,925
1,785,397
2,625,956
5,576,670
2,503,482
$ 11.560 807 $_1119.S241,
208,133
208,133
24,266
3,245
226,383 75,266
253894 75,266
45,761) 22,696
X45,761) $ 22 696
97,962
97,962
1,351
1,303
1,303
48
$_________48 1_________:
$ 150,000 $ -
118,932
118,932
239,396
239,396
(120,464) _
$ 29,536 $
(35,562)
(35,562)
(32,006)
(32,006)
(3,556)
$ (3 556)
35,562
35,562
32,006
32,006
3,556
,3,556
Ending
Balance
$ 8,401,986
10,290,979
3,188,617
21,881,582
116,734,322
7,411,107
45,418,290
304,227,407
473,791,126
27,474,494
2,310,923
27,553,062
181,507,922
238,846401
234,944,725
1_25.6_3212302
$ 48,496
710,305
55,728
1,286,367
2,052,400
382,923
53,249
653,500
1,0891672
962,728
$ 1.011.224
$ 41,217
41,217
27,625
27,625
13,592
$__13.192
$ 150,000
2,543,770
2,543,770
917,765
917,765
1,626,005
$ 1,776,005
59
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
Depreciation expense was charged t o functions/programs
government as follows:
Governnent al activities:
General government
Public safety
Streets and hi ghways
Economic assistance
Culture and recreation
Health and welfare
Capital Assets held by government's internal
service funds are charged to the van i ous
functions based on their usage of the assets
Total depreciation expense- government al activities
Bus i nes s - type activities
Par anedi c Service
of the
prinary
$ 1, 389, 406
1, 740, 177
14, 231, 625
58, 377
11, 712
362, 148
2, 976, 118
$ 20, 769, 563
$ 253, 894
Component Unit s
Housing Authority 1, 303
E- 911 Authority 239, 396
Total depreciation expense component units $ 240, 699
Note 7 - Risk management and insurance:
The County i s exposed t o various risks of loss related t o torts ; t heft
of, damage to, or destruction of assets; and errors or omissions. (See
Note 11) These activities are accounted for i n the Insurance Fund, an
internal service fund. A liability for a claim is established if
i of ornat i on i ndi cat es that it is probable that a liability has been
incurred at the date of the financial statements and the armunt of the
loss is reasonably estimable.
Insurance coverages have not been si gni fi cant 1 y reduced from prior years
and sett 1 ement s have not exceeded insurance coverage in the past three
years.
The County manages risks of loss through a combination of conirer ci al
i nsurance, participation i n a public entity risk pool , (See Note 1) and
self-insurance. These activities are accounted for in the Insurance
Fund, an internal service fund.
The County provides health, dental and vision insurance benefits to
enpl oyees, whi ch are funded by enpl oyee and employer cont ri but i ons.
These activities are accounted for i n the Health Insurance Fund, an
internal service fund.
60
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
Wrkers' Compensation coverage is partially self -insured, with insurance
coverage of a $400, 000 self -insured retention. Est i rmt ed 1 i abilities for
cl ai rrs nude and claim incurred but not reported (IBNR) at year -end are
shown as accrued liabilities in the fund. These est i mat es are based upon
a third -party admi ni st r at or s review of claims and actuarial proj ections
ons
from hi st or i cal cl ai ns dat a. Changes i n the bal ances of claims
liabilities during the current and prior years are as follows :
Unpaid Cl ai ns - Begi nni ng
Incurred Claims (Includes I BNR' S)
Claims Paid
Unpaid Cl ai rrs - Endi ng
2008
$ 882, 530
1, 396, 094
(1, 168, 519)
2009
$ 1, 110, 105
1, 144, 195
(860, 342)
$ 1, 110, 105 $ 1, 393, 958
The Insurance Internal Service Fund provides protection against losses
i nvol vi ng County property, equi pment , and 1 i abi 1 i t y. Reserves within the
fund support hi gher deductible or self - insured retention 1 evel against
loss. Payment s to CAPP for coverage under the insurance pool are shown
as expenses i n the Insurance Int ernal Service Fund. Est i nut ed
liabilities under the $125,000 self -insured retention for claim, made and
claims incurred but not reported (IBNR) at year-end are shown as accrued
liabilities in the fund. These es t i mat es are based upon CAPP' s cl ai m
administrator's review of claims and actuarial projection from historical
claims data. Changes in the balances of claim, liabilities under the
$125, 000 self- insured retention during current and prior years are as
follows:
Unpaid Cl ai trs - Begi nni ng
Incurred Cl aims (Includes IBM! s)
Cl aims Pai d
Unpaid Cl ai rrs - Endi ng
2008
$ 84, 609
732, 767
(631, 430)
2009
$ 185, 946
373, 089
(234, 537)
$ 185,946 $ 324,498
The Health Insurance I nt er nal Service Fund covers the county' s dental and
vi s i on reimbursement pl an. The plan is not an insurance program but
rat her an employee r ei nbur serrent plan t hat closes out each year on
December 31, for services received on or before t hat date. It
out s t andi ng claims or incurred but not reported liabilities exist for
year-end. The health insurance plan is fully insured.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
In addition the Health Insurance Internal Service Fund as of January 1,
2006, covers the county's health insurance program The plan is a sel f -
f unded errpl oyee health benefit plan with a specific deductible armunt of
$100, 000 per individual, and an aggregate excess loss insurance policy
t hat has both a rmnt hl y at t achment point and an annual cumil at i ve
at t achrnent limit with a terra nal attachment point . Attachment points ar e
cal cul at ed based upon enrol 1 rrent . The pr emi urns ful 1 y fund the cunul at i ve
and terminal at t achnent points, so there i s no unfunded liability for the
program at any tine. The plan is on a claims paid basis, which means
t here are not any out st andi ng claims or incurred but not reported
liabilities at year end. In no event shall the expense i ncur r al period
ext end beyond the date the policy expires.
Note 8 - Long -Term Debt:
Val d County has no general bonded indebtedness . In accordance wit h
Section 30-35-201 CRS, 1973, the County's general bonded indebtedness is
limited to 3% of the assessed valuation, or $173, 123, 816 at Decenber 31,
2009.
The County has i s sued industrial revenue bonds for the purpose of
financing capital projects of several private enterprises. Under terns
of a financing agreement , the bonds are sold to a bank, the pr i vat e
enterprise assumes full responsibility for repayment of the debt, and the
County is released from any liability for repayment . Industrial revenue
bonds out st andi ng as of December 31, 2009 totaled $12, 201, 492.
Changes in long-term liabilities
Long-term liability activity for the year ended Decenber 31, 2009, was as
follows, the balances, additions and reductions are listed by the funds
where the 1 i ability is accrued and l i qui dated:
Begi nni ng
Bal ance
Addi t i ons Reduct i ons
Endi ng
Bal ance
Due Wt hi n
One Year
Compensated absences
General Fund $ 1,543,304 $ 199,264 $ 94,147 $1,648,421 $ 115,043
I'ubl i c VWbrks 472,457 22, 101 28,468 466,090 27,080
Social Services 595,488 159,629 52,492 702,625 69,419
Public Health 199,217 37,301 14,593 221,925 16,322
Total governmental $ 2,810,466 $ 418,295 $ 189,700 $3,039,061 $ 227,864
62
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Note 9 - d County Retirement PI an:
Plan Description:
The Wl d County Ret i rement PI an (Plan) i s a si ngl a-empl oyer, defi ned
benefit pension plan adni ni st ered by a fi ve-member r et i r ement board. The
plan provides retirement , disability and death benefits to plan members
and beneficiaries at the discretion of the Retirement Board. The
Retirement Board and the Board of Conmi s s i oner s maintain the authority to
establish and amend benefit provisions of the Plan. The Retirement Board
issues a publicly avai 1 able financial report t hat includes financial
s t at ement s and r equi r ed suppl ement ary i of or mat ion. That report nay be
obt ai ned by cont acting the County of Val d, State of Col or ado.
Funding Policy:
The cont r i but i on r equi r event s of pl an members and the County ar e
est abl i shed and nai nt ai ned by the Board of Comri ssi oners. PI an members
are requi red t o cont r i but a 9% of their annual covered payroll. The
County is required to contribute at an actuarially determined rate; the
current rate is 9% of annual covered payroll.
Annual Pension Cost and Net Pension Obligation:
The County's annual pension cost and net pension obligation to the Plan
the current year were:
Annual Requi red Cont r but i ons
Interest on net pension obligation
Annual Pension Cost
Cont r i but i ons nude
$ 7, 087, 01 1
174, 583
7, 261, 594
4, 962, 224
Increase in net pension obligation 2,299,370
Net pension obl i gat i on (asset) begi nni ng of year 2, 182, 292
Net pension obl i gat i on (asset) end of year $ 4, 481, 662
The annual required contribution for the current year was determined as
part of the January 1, 2009 act uar i al valuation using the entry age
act uar i al cost net hod. The actuarial as s umpt i ons included ( a) 8%
investment rate of return (net of administrative expenses) and (b)
proj ect ed salary i ncr eases rangi ng from 5. 3% t o 8. 5% per year. Both ( a)
and (b) included an inflation component of 2. 8% The act uar i al value of
assets was determined using techniques that smooth the effects of short -
t er m volatility in the market value of investments over a five- year
period. The unfunded actuarial liability is being amortized as a level
per cent age of projected payroll on a closed basis . The retraining
amortization period at January 1, 2009, was 30 years.
63
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
Three -Year Trend Information:
Fiscal Year Ended
December 31, 2007
December 31, 2008
December 31, 2009
Funding Status:
Annual Pension
Cost ( ARC)
4, 447, 927
5, 052,213
7, 261, 594
Percentage of APC
Cont r i but ed
85. 0%
87. 4%
68. 34
Net Pension
Obl i gat i on (Asset )
1, 546, 159
2, 182, 292
4, 481, 662
Actuarial
Valuation
Date
Actuarial
Value of
Assets
(a)
Actuarial
Accrued
Liability
( AAL)
Entry Age
(b)
Unfunded
AAL (UAAL)
(b -a)
Funde
d
Ratio
( a/ b)
Covered
Payroll (c)
UAAL as a
Percentag
e of
Covered
Payroll
[ b- a) / c]
1/1/09
S 112, 079, 550
$176, 927, 890
$64, 848, 340
63. 3%
$53, 988, 779
120. 1%
A schedule of funding progress can be found in the RSI section following
the notes to the financial st at ement s. The schedule of funding progress
presents i nfornat i on on the funding process and its increases and
decreases over tine.
Based on several rmnt hs of study and review of available plan design
options, the Retirement Board revised the provisions of the Veld Count y
in order to reduce the future volatility of the plan's funded status and
help to secure the financial future of the Plan. The 'raj or i t y of the
revi si ons will only i mpact new ntmber s hire after on or after January 1,
2010. The provisions of the revised plan provide a variable annuity with
members accruing 1. 9% of their pay each year toward their age 65 annuity.
The benefit will be adjusted each Mr ch based on the Plan's asset return
under or over 5% for the prior year. Early retirement options continue
to be available under the revised plan. Effective January 1, 2010 the
i nt erest rate credited t o the existing cont ri but i on balances as of
January 1, 2010 and contributions after January 1, 2010 will be 3% per
year.
64
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Note 10 - Other Post Errpl oynent Benefits:
Plan Description:
Weld County Ot her Post Empl oyment Benefits PI an ( OPEB PI an) is a s i ngl e-
e npl oyer defined benefit healthcare pl an administered by VM1 d County that
pr ovi des nedi cal , dental , and vision insurance benefits to el i gi bl e
✓ etirees and their spouses. The OPEB Plan was created by a Board of W1 d
County Comri s s i oner s resolution on November 30, 1998, and an -ended
Decenber 16, 2002 and Sept ember 21, 2005. The OPEB Plan provides the sane
health, dental, and vision plan as offered Val d County employees and at
the sane cost. The program i s not part of the Veld County Retirement Plan
and is not a vested benefit or right, but it is a plan that can be
an -ended or stopped at any tine by the Board of V1/46l d County Comris s i oner s
for any reason, and no separate financial stat at ement s are prepared. The
program i s only avai 1 abl e to W1 d County employees hired prior to October
1, 2005. From December 16, 1998, to December 31, 2008, a retiree who
retires from employment with Val d County after ten years of servi ce, or
was an elected official of Vel d County for at least one full four year
term who has attained the age of 55 years and is drawing benefits from
t he Wl d County Retirement PI an i s el i gi bl e t o continue health, dent al ,
and vision coverage until age 65. After January 1, 2009, an employee mist
have attained age 57 and have 15 years of service to be eligible. From
2009 until 2014 the required age attainment and years of service are each
increased by one year annually, so effective January 2014 an employee
mist have attained age 62 and have 20 years of service to be el i gible,
e,
unless the employee attains age 55 and has 30 years experience or has
attained age 55 and has served as a W1 d County elected offi ci al for two
f ul 1 terns . Coverage ends in all cases at age 65. The Board of V1/461 d
County Conmi s s i oner s on Sept enber 15, 2008, decided by r es of ut i on t hat
the current program will be stopped January 1, 2009, except for those
e nrpl oyees born pri or to January 1, 1957, or any enpl oyee born on or pri or
to December 31, 1958, who will have 30 years of service prior to reaching
age 62. Employees meeting these criteria will be gr andf at her ed into the
current plan and wi 1 1 r enai n el i gi bl a for continued benefits under the
retiree health insurance program adopted December 16, 2002. An empl oyee
meeting the above criteria to be eligible for the gr andf at her ed plan the
e npl oyee and/ or dependents, i f applicable, mist have been enrol 1 ed as of
January 1, 2008, in the VC d County health insurance plan. Enpl oyees
and/ or dependents enrol 1 ed i n the VW1 d County health insurance pl an after
January 1, 2008, are not el i gi ble for the gr andf at her ed plan.
65
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Funding Policy:
The cont r i but i on requirements of plan members and Wl d County ar e
est abl i shed and may be amended by the Board of W1 d County Comm s s i oner s
annually. The required cont r i but i on i s based on proj ect ed pay-as-you-go
financing requi rement s, with an addi t i onal armunt t o prefund benefits as
determined by an actuarial report done bi - annually. For fiscal year 2009,
t he county cont r i but ed $648, 908 t o the plan, i ncl udi ng $648, 908 for
current pr emi urns (appr oxi mat el y 77 per cent of tot al pr eni uns) and no
additional fundi ng t o prefund benefits . PI an members r ecei vi ng benefit s
cont ri but ed $198, 260, or appr oxi mat el y 23 percent of the total premiums,
t hr ough their required cont r i but i on r angi ng bet ween $111 t o $152 per
rmnt h for retiree -only coverage and between $219 to $251 for retiree and
spouse coverage. The OPEB Plan assets are deposited in the Wl d County
OPEB Plan Trust Fund. The enpl Oyers cont r i but i ons t o the trust fund are
irrevocable, the assets of the trust are dedicated to providing benefits
to retirees and their beneficiaries, and the assets are legally protected
form t he enpl oyer' s creditors .
Annual OPEB Cost and OPEB Obligation:
Prior to January 1, 2007, the OPEB Plan was funded on a pay as you go
basis. Begi nni ng January 1, 2007, the county's annual of her post
enpl oynent benefit (OPEB) cost (expense) i s calculated based on the
annual required contribution of the employer (ARC) , an afmunt actuarial l y
determined in accordance with the parameters of GASB Statement 45. The
ARC represents a level of funding that, if paid on an ongoing basis, is
proj ect ed t o cover nornal cost each year and anvrt i ze any unfunded
act uar i al liabilities (or fundi ng excess) over a period not to exceed
t hi r t y years. The primary assumption for the ARC calculation is the 7. 5%
di s count rate. The act uar i al as sumpt i ons included an annual healthcare
cost trend rate of 11% initially, reduced by decrements to an ultinate
rate of 5% after 6 years. Liabilities are cornput ed using the proj ected
unit credit fret hod. The unfunded act uar i al accrued liability was
anort i zed over a cl osed 25 year period. GASB' s standard requires an
act uar i al valuation bi enni ally for empl oyer s with menber s hi p of 200 or
more employees, terminated enpl oyees who Nth 1 1 be eligible for benefits,
and retired employees and beneficiaries receiving benefits. If there are
less than 200 plan members the actuarial valuation can be triennial.
Therefore, the January 1, 2009, actuarial valuation date wi l 1 be used for
t he pl an for December 31, 2009 reporting. The f of 1 owi ng shows the
components of the county's annual OPEB cost for the year, the armunt
actually cont r i but ed t o the pl an, and changes i n the county's net OPEB
obligation to Wl d County:
COUNTY OF Ve 1 d County
STATE OF COLORADO
Year Ended December 31, 2009
Benefit Obligation and Normal Cost on December 31, 2009
Actuarial Accrued Liability
Ret i red Empl oyees
Active Employees
Tot al
Unfunded actuarial accrued liability (UAAL)
Normal cost beginning of year
Amortized factor based on 25 years
$ 5,411,716
2,934,307
$ 8,346,023
$ 8,346,023
99,753
11.6172
Level Dollar Amortization
Calculation on ARC under Projected Unit Credit Method on December 31,
2009
Amortization of UAAL over 25 years
Normal cost at beginning of year
Interest
2009 Cross Annual Required Contribution (ARC)
Enpl oyee Cont ri but ions
2009 Net County ARC
Decrease in net OPEB obligation
Unfunded actuarial accrued liability
County Cont r i but i on
$ 560,778
99, 753
49, 540
(UAAL) end of the
Covered Participants as of January 1, 2010
Active Enpl oyees
Retired Enpl oyees
Spouses of Retired Employees
Three -Year Trend Information:
Annual Required
Fiscal Year End Contribution (AR(2)
Decenber 31, 2007 $ 1,304,815
Decenber 31, 2008 $ 710,071
Decenber 31, 2009 $ 710,071
710, 071
( 198, 260)
511,811
( 648, 864)
( 137, 053)
year $6,489,908.
85
92
27
204
Percentage of
ARC Cont r i but ed
100% $
Net OPEB
Asset
122% $( 154, 157)
119% $(137,053)
Prior to January 1, 2007, the OPEB Plan was on a pay as you go funding
basis. January 1, 2007, was the first time an actuarial accrued liability
was calculated to determine the net OPEB obligation. The OPEB obligation
as of December 31, 2009 was $8,346,023, there were $1, 856, 1 15 in assets
on December 31, 2009 for unfunded actuarial accrued liability (UAAL).
67
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Funded Status and Funding Progress. The funded status of the plan as of
December 31, 2009, was as follows:
Actuarial Accrued Liability ( AAL) $ 8,346,023
Actuarial value of plan assets $ 1, 856, 115
Unfunded actuarial accrued liability (UAAL) $ 6,489,908
Funded ratio (actuarial value of plan assets/AAL) 22.2%
Actuarial valuations involve estimates of the value of reported armunt s
and as s umpt i ons about the probability of events far into the future, and
actuarially det er mi ned amount s are subject t o continual revision as
actual results are compared to past expect at i ons and new estimates are
made about the future.
The required schedule of fundi ng progress presents multi year t r end
infornution about 'whether the actuarial value of assets is increasing or
decreasing over time r el at i ve to the actuarial accrued liability for
benefits.
The actuarial calculations are based on the types of benefits provided
under the terns of the substantive pl an at the tine of each valuation and
on the pattern of sharing of costs between the employer and members to
that point and reflect a long- t erm perspective.
The \Ml d County OPEB Plan Assets are accounted for in the W1 d County
OPEB Plan Trust Fund. An IRC Section 115 Trust has been est abl i shed for
the W1d County OPEB Plan Trust.
Note 11 - Conni t rents and Contingencies :
Conni t went s
At year - end t here were pr of ect s under construction with commitments of
$2, 426, 515 including $2, 350, 345 for construction of the new CorYuni t y
Corrections bui 1 di ng, and 76, 170 for improvement at the Jai 1 .
Col or ado voters passed an amendnrnt to the State Constitution, Article X,
Section 20, whi ch has several 1 i mi t at i ons, including revenue raising,
spending abilities, and other specific requirements of state and local
governments. The Amendment is complex and subject to judicial
interpretation. The entity believes it is in compliance with the
requirements of the amendment . However, the entity has made cer t ai n
i nt erpr et at i ons of the amendments 1 anguage i n of her t o det ermine i t s
compl i ance.
68
401(19.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
The County participates in a number of federal and state grant programs.
Pr nci pal fundi ng agencies include Department of Labor, Commini t y
Services Admi ni st r at i on, Department of Health and Human Services,
Depart ment of Housing and Urban revel oprrent , Economi c Development Agency,
and Area Agency on Agi ng. These pr ogr ans are s ubj ect t o pr ogr am
compl i ance audits by the grant ors or their representatives. The annunt ,
i f any, of expenditures which nay be disallowed by the granting agencies
cannot be det er mi ned at this time, alt hough the County expects such
anDunts, if any, to be imasterial.
Note 12 - Public Trustee:
Pursuant t o an act of the Color ado General As s embl y, the Val d Count y
Public Trustee is to be deemed an agency of the County for the purpose of
financial reporting.
Related activity has been reported in the General Agency Fund, with the
following activity identified strictly for the office of the Public
Trustee as of and for the year ended December 31, 2009
Assets
Liabilities
Fund Balance
Additions
Deduct i ons
$809, 647
116, 639
693, 008
1, 673, 941
1, 646, 11 1
The Public Trustee started a retirement plan in December 2003. The
i s a defined cont r i but i on pl an under I nt er nal Revenue Code section
are set at
Funding I evel s
2007
2008
2009
8%
8'A%
9%
t he f of l owi ng:
Enpl oyer/ Enpl oyee
Enpl oyer/ Enpl oyee
Enpl oyer/ Enpl oyee
plan
69
COUNTY OF W 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2009
Note 14 - Non -Cash Activity in Social Services Fund
Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures
For the Year Ended December 31, 2009
A
B
C
D
E
Program
County EBT
Authorizations
County Share of
Authorizations
Total Refunds
and Expenditures
by County
Warrant or
Accrual
County EBT
Authorizations
plus Expenditures
by County
Warrant
(Col. A + Col. C)
Total Expenditures
(Col. B + Col. C)
Old Age Pension
4,717,824
7,637
138,026
4,855,850
145,660
Low -Income Energy
Assistance Program
2,436,738
-
465,584
2,902,322
465,584
Temporary Assistance for
Needy Families
2,092,714
479,877
3,528,343
5,621,057
4,008,220
Administration
19,000
3,791
6,842,835
6,861,835
6,846,626
Trails/Child Welfare
10,941,644
1,835,293
10,372,875
21,314,519
12,208,168
Core Services
1,747,119
274,698
138,932
1,886,051
413,630
Aid to the Needy Disabled
912,510
124,997
86,546
999,056
211,543
IV -D Administration
-
-
3,381,651
3,381,651
3,381,651
CHATS/Child Care
2,974,172
369,286
755,354
3,729,526
1,124,640
General Assistance
-
-
1,758,272
1,758,272
1,758,272
Subtotal
25,841,721
3,095,576
27,468,418
53,310,139
30,563,994
Food Assistance
27,747,856
-
13,410
27,761,266
13,410
Grand Total
53,589,577
3,095,576
27,481,828
81,071,405
30,577,404
A. Welfare payment authorized by the Weld County Department of Social Services. These County authorizations are
paid by the Colorado Department of Human Services by Quest debit cards or by electronic benefits transfer (EBT)
B. County share of EBT authorizations. These amounts are settled monthly by a reduction of State cash advances to the
County.
C. Expenditures made by county warrants or other county payment methods.
D. This represents the total cost of the welfare programs that are administered by Weld County.
E. This total matches the expenditures on the Social Services Fund - Statement of Revenues, Expenditures and
Changes in Fund Balances.
70
Required Supplementary
Information
d3 f3 Z filed
i N acs
•
4
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2009
Schedule of Funding Progress - Retirement PI an
Actuarial
Val uat i on
Date
Actuarial
Value of
Assets
(a)
Actuarial
Accrued
Liability
( AAL)
Entry Age
(b)
Unfunded
AAL (UAAL)
(b- a)
Funded
Ratio
( a/ b)
Covered
Payroll (c)
UAAL as a
Percent age
of
Covered
Payroll
[b-a)/c]
1/1/03
$ 87,
140,
219
$100,
581,
108
$13,
440,
889
86.
6%
$36,
205,
613
37. 1%
1/1/04
$ 94,
496,
804
$112,
901,
278
$18,
404,
474
83.
7%
$36,
498,
310
50.4%
1/1/05
$ 98,
604,
182
$120,
956,
120
$22,
351,
938
81.
5%
$38,
496,
866
58. 1%
1/1/06
$103,
979,
296
$136,
792,
785
$32,
813,
489
76.
0%
$41,
529,
717
79.0%
1/1/07
$112,
874,
087
$150,
145,
842
$37,
271,
755
75.
2%
$44,
210,
410
84.3%
1/ 1/08
$125,
879,
138
$167,
011,
647
$41,
132,
509
75.
4%
$49,
967,
777
82.3%
1/1/09
$112,
079,
550
$176,
927,
890
$64,
848,
340
63.
3%
$53,
988,
779
120. 1%
Schedule of Employer Cont r i but i ons
Year Ended
December 31
Annual
Requi red
Cont r i but i on( 1)
- Retirement PI an
Actual
Cont r i but i on
Per cent age
Cont r i but ed
2003
2004
2005
2006
2007
2008
2009
(1)Requi red
$2, 734, 414
$3, 125, 337
$4, 236, 858
$4, 236, 858
$4, 408, 097
$4, 928, 519
$ 7, 087, 011
cont r i but i on at begi nni
$2, 182, 671
$2, 234, 518
$2, 779, 636
$3, 205, 422
$3, 804, 640
$4, 184, 885
$4, 962, 224
ng of year.
Schedule of Funding Progress - Other Post Employment
79. 8%
71.5%
65. 6%
75. 7%
83. 6%
84. 9%
70. 0%
Benefits
Actuarial
Valuation
Date
Actuarial
Value of
Assets
(a)
Actuarial
Accrued
Liability
(AAL)
Entry Age
(b)
Unfunded
AAL ( UAAL)
(b -a)
Funde
d
Ratio
(a/b)
1/1/08
$
0
$ 13,
594,
087
$ 13, 594, 087
0.
0%
1/ 1/09
$ 1,
831,
353
$ 8,
346,
023
$ 6, 514, 670
21.
9%
1/ 1/ 10
$ 1,
856,
1 15
$ 8,
346,
023
$ 6, 489, 908
22.
2%
71
COUNTY OF WELD
STATE OF COLORADO
Required Supplementary Information
Modified Approach for Infrastructure Assets
Weld County prepares an annual gravel road plan. In doing this each of the sections of gravel roads has been evaluated
by supervisors. They use the State guidelines as out lined in Section 43 -2 -120(5)(a -b), C.R.S. 1973, which is stated
below. Since gravel roads condition can change quickly based on weather conditions the road plan may have to be
modified to take care of such problems. Therefore, an official road maintenance system is difficult to put in place. It is
the County's policy to maintain the roads in fair or better condition. The County's gravel plan details the replacement
and maintenance schedule required for the gravel roads, by segment, under ideal weather conditions based on traffic and
location. The day to day conditions of the gravel roads is continually monitored by the County's Motor Grader division
whose sole responsibility is to maintain the condition of the gravel roads, the following table details the condition
assessment in total miles and percentage reported at the end of the last three fiscal periods.
Condition
Good
Fair
Poor
2009
Miles % of Total
1747 74.90%
534 22.90%
49 2.20%
2008
Miles % of Total
2036 86.20%
277 11.80%
50 2.00%
Comparison of Estimated -to -Actual Maintenance/Preservation
2007
Miles % of Total
1699 71.95%
618 26.16%
45 1.89%
2005 2006 2007 2008 2009 2010
Estimated $ 1,800,000 $ 1,861,200 $ 3,328,512 $ 2,666,172 $ 2,947,356 $ 2,915,000
Actual $ 2,910,000 $ 1,804,000 $ 1,892,000 $ 2,169,920 $ 1,572,615
Gravel Roads - Surface Condition Rating Criteria
Section 43-2-120 (5)(a -b), C.R.S. 1973, gives the following guidelines pertaining to the condition criteria on gravel
roads.
Good Surface Condition
$ There is adequate width for safe passage of large vehicles.
$ Graded to a uniform cross-section, having a crown and ditches to provide good drainage.
$ The surface is smooth with no washboards, rutting or soft areas; vehicles can safely travel at the posted
speed limit.
$ There is adequate gravel uniformly spread across the surface.
$ During periods of wet weather, roads will support traffic.
Fair Surface Conditions
$ Adequate width for safe passage of cars and pickup trucks.
$ Cross-section may vary; the crown is not consistent; ditches and drainage are not adequate.
$ The surface has occasional washboards and ruts but irregularities do not interfere with safe vehicle
operation at the speed limit.
$ Gravel is present, but lacking in the wheel paths or in short stretches.
$ During periods of wet weather, puddles develop; the road is slippery but will support normal traffic.
Poor Surface Condition
$ Two cars cannot safely pass.
$ Cross-section varies. There is no crown or ditches, and water does not drain from the road.
$ The surface has washboards, ruts, soft areas; vehicles must slow to less than the speed limit.
$ Gravel is sparse or does not exist.
$ During periods of wet weather, cars cannot safely travel.
72
Required Supplementary Information
Other Than MD&A
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Tobacco products
Penalties & interest
Total Taxes
Licenses and Permits
Liquor licenses
Planning permits
Building permits
Electrical permits
Total Licenses and Permits
Intergovernmental:
Federal grants
Payment in lieu of taxes
State grants
Other governmental units
Cities and towns
Total Intergovernmental
Charges for Service:
Plan checking fees
Charges for services
Sale of supplies
Parking
Total Charges for Services
Fines and Forfeitures:
Property forfeitures/evidence
Fines (drunk drivers)
Total Fines and Forfeitures
Miscellaneous:
Miscellaneous
Interest
Rents from buildings
Royalties
Total Miscellaneous
Origina
Fina
Actual
$ 54,012,194 $ 54,012,194 $ 53,771,585
100,000 100,000 86,916
119,032
54,112,194 54,112,194
5,000
350,000
500,000
90,000
5,000
350,000
500,000
90,000
945,000 945,000
1,750
2,687,303
172,890
323,200
1,750
3,089,334
255,390
323,200
3,185,143 3,669,674
200,000
3,150,646
110,000
26,500
200,000
3,280,646
110,000
26,500
3,487,146 3,617,146
165,000 305,000
165,000 305,000
1,270,025
3,200,000
126,200
575,000
1,527,025
3,200,000
417,700
975,000
5,171,225 6,119, 725
53,977,533
5,305
370,970
676,478
126,097
1,178,850
526,236
3,079
3,613,764
363,618
863,565
5,370,262
172,698
2,945,392
124,444
26,772
3,269,306
35,188
278,361
313,549
2,313,312
2,151, 674
417,952
1,707,235
6,590,173
Variance
$ (240,609)
(13,084)
119,032
(134, 661)
305
20,970
176,478
36,097
233,850
526,236
1,329
524,430
108,228
540,365
1,700,588
(27,302)
(335,254)
14,444
272
(347,840)
35,188
(26,639)
8,549
786,287
(1,048,326)
252
732,235
470,448
73
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
REVENUES (CONTINUED)
Fees:
Fee account
Treasurer's fees
Cable fees
Total Fees
Total Revenues
EXPENDITURES
General Government:
Office of the Board
County Attorney
Planning and zoning
Clerk to the Board
County Clerk
Elections and registration
Motor vehicle
County Treasurer
County Assessor
Maintenance of buildings/grounds
County Council
District Attorney
Juvenile Diversion Grant
Juvenile Assessment Center
Victim Assistance
White Collar Crime
DUI
MYAT - Probation
Financial administration
General accounting
Purchasing
Personnel
Geographical Information Systems
Computer Services
Printing and Supply
Transportation
Total General Government
Origina
7,062,500
50,000
50,000
7,162,500
74,228,208
691,187
753,399
1,569,064
327,286
834,780
1,310,454
1,723,407
884,622
2,529,828
5,080,661
64,871
4,768,734
85,245
617,217
20,000
288,565
608,499
144,485
922,594
215,879
1,901,000
349,070
657,197
26,348,044
Fina
7,192, 500
50,000
60,000
7,302,500
76,071,239
741,187
812,499
1,484, 064
334,286
853,280
1,310,454
1,723,407
949,622
2,474,828
5,185,661
64,871
4,777,334
85,245
617,217
20,000
10,000
42,000
341,565
680,999
148,485
1,586,594
215,879
2,601,000
389,070
697,197
28,146, 744
Actual
7,043,297
46,973
56,721
7,146,991
77,846,664
696,803
825,159
1,405,758
318,593
807,196
639,731
1,721,249
865,010
2,341,947
5,394,020
12,580
4,740,065
72,997
66,282
1,349,017
13,258
8,344
44,206
325,212
644,120
146,341
1,498,968
89,957
2,312,529
299,732
658,174
27,297,248
Variance
(149,203)
(3,027)
(3,279)
(155,509)
1,775,425
44,384
(12,660)
78,306
15,693
46,084
670,723
2,158
84,612
132,881
(208,359)
52,291
37,269
12,248
(66,282)
(731,800)
6,742
1,656
(2,206)
16,353
36,879
2,144
87,626
125,922
288,471
89,338
39,023
849,496
74
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
EXPENDITURES (CONTINUED)
Public Safety
Sheriff administration
Crime control and investigations
Traffic control
Municipal Service Contracts
Task force
Regional forensic laboratory
Communications services
Communication system development
Criminal justice
Justice Services
County Coroner
Correctional administration
Community correction
Building inspection
Office of emergency management
Waste water management
Animal control
Pest/weed control
Victim Advocates
Total Public Safety
Public Works:
General engineering
Extension services
Veteran office
Airport
Total Public Works
Public Health and Welfare:
Mental health
Developmentally disabled
Seniors program
Economic development
A Kid's Place
Total Public Health and Welfare
Culture and Recreation:
Missile site park
Parks and Trails
County fair
Total Culture and Recreation
(CONTINUED)
Origina
1,421,581
7,193,984
1,117,476
539,063
165,260
296,775
1,656,696
815,705
633,940
20,228,932
2,113,810
894,457
158,973
11,367
460,029
762,877
149,022
38,619,947
2,489,227
400,500
68,395
265,000
3,223,122
104,599
46,125
12,500
105,000
8,750
276,974
72,081
32,000
318,945
423,026
Fina
1,443,581
7,269,015
1,247,476
539,063
165,260
329,275
1,656,696
1,001,688
705,140
19, 691,132
2,113,810
894,457
181,973
11,367
485,029
782,877
149,022
38,666,861
2,489,227
379,550
68,395
293,000
3,230,172
104,599
46,125
12,500
465,000
8,750
636,974
72,081
32,000
318,945
423,026
Actual
1,410,510
7,589,611
1,224,605
530,007
166,088
280,157
1,454,716
1,277
966,017
25,329
689,230
19,465,102
2,330,467
924,248
179,305
9,433
462,444
617,686
138,121
38,464,353
1,676,620
382,400
66,433
292,592
2,418,045
104,599
31,729
12,500
400,312
6,000
555,140
66,774
32,000
519,533
618,307
Variance
33,071
(320,596)
22,871
9,056
(828)
49,118
201,980
(1,277)
35,671
(25,329)
15,910
226,030
(216,657)
(29,791)
2,668
1,934
22,585
165,191
10,901
202,508
812,607
(2,850)
1,962
408
812,127
14,396
64,688
2,750
81,834
5,307
(200,588)
(195,281)
75
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
EXPENDITURES (CONTINUED)
Miscellaneous:
Other
Building rents
Total Miscellaneous
Capital Outlay:
Capital purchases
Total Expenditures
Other Financing Source (Use)
Transfers - In:
Non -Departmental
Transfers - Out:
Appropriation Grants -In -Aid
Total Other Financing Sources (Uses)
Origina
709,530
100,000
Fina
959,530
100,000
809,530 1,059,530
1,159,799 604,799
70,860,442 72,768,106
(3,602,822)
(3,602,822)
Net Change in Fund Balance (235,056)
Fund Balance at Beginning of Year
Fund Balance at End of Year
(8,375,723)
(8,375,723)
(5,072,590)
Actual
807,585
78,908
886,493
315,870
Variance
151,945
21,092
173,037
288,929
70,555,456 2,212,650
85,000
(8,375,723)
(8,290,723)
85,000
85,000
(999,515) 4,073,075
11,806,888 11,806,888 11,806,888
$ 11,571,832 $ 6,734,298 $ 10,807,373 $ 4,073,075
76
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Public Works Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
REVENUES:
Taxes:
General property taxes
Severance Tax
Specific ownership taxes
Penalties & Interest
Total Taxes
Licenses and Permits
Moving permits
Intergovernmental:
Mineral leasing
Grazing act
Payment in lieu of taxes
Grants
Motor vehicle registration fees
Highway user tax fund
Total Intergovernmental
Charges for Services:
Charges for services
Miscellaneous:
Earnings on deposits
Special assessments
Miscellaneous
Total Miscellaneous
Fees:
Other fees
Total Revenues
Original Final
$ 7,354,938 $ 7,354,938
600,000 600,000
6,775,000 6,775,000
14,729,938
370,000
200,000
80,000
20,000
1,500,000
340,000
8,400,000
10,540,000
2,598,050
2,598,050
28,237,988
14,729,938
370,000
200,000
80,000
20,000
5,408,000
340,000
8,825,000
14,873,000
2,598,050
2,598,050
32,570,988
Actual
$ 7,323,975
3,385,149
6,166, 396
16,176
16,891,696
288,432
108,885
42,092
4,515,941
340,570
8,897,453
13, 904, 941
2,537,699
84,977
7,500
44,994
137,471
335,446
34,095,685
Variance
$ (30,963)
2,785,149
(608,604)
16,176
2,161,758
(81,568)
(200,000)
28,885
22,092
(892,059)
570
72,453
(968,059)
2,537,699
84,977
7,500
(2,553,056)
(2,460,579)
335,446
1,524,697
78
COUNTY OF WELD
STATE OF COLORADO
Public Works Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
EXPENDITURES
Public Works
Bridge construction
Maintenance of condition
Maintenance support
Trucking division
Mining division
Administration
Pavement Management
Other public works
Total Public Works
Intergovernmental:
Grants-in-aid to cities/towns
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
4,005,858
5,876,917
1,421,918
3,969,981
1,000,216
677,959
5,550,519
5,883,955
28,387,323
1,654,918
30,042,241
(1,804,253)
16,360,758
$ 14,556,505
4,005,858
5,926,917
1,421,918
3,969,981
1,450,216
764,959
5,550,519
10,149, 555
33,239,923
1,654,918
34,894,841
(2,323,853)
16,360,758
$ 14, 036, 905
Actual
3,598,565
5,430,016
1,270,091
3,295,216
1,380,443
947,884
5,216,370
4,427,533
25,566,118
1,611,474
27,177,592
6,918,093
16,360,758
$ 23,278,851
Variance
407,293
496,901
151,827
674,765
69,773
(182,925)
334,149
5,722,022
7,673,805
43,444
7,717,249
9,241,946
$ 9,241,946
79
COUNTY OF WELD
STATE OF COLORADO
Social Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Intergovernmental:
Welfare
Total Revenues
EXPENDITURES
Public Health and Welfare:
Administrative - regular
Administrative - IV -D
Food stamps
Other Programs
General assistance
TANF
AND - State
Child welfare
Day care
Original Final
$ 5,775,000 $ 5,775,000
5,775,000 5,775,000
18,253,417
24,028,417
4,433,500
2,735,000
1,857,500
3,190,000
104,000
10,500,000
1,085,150
24,827,417
30,602,417
10,436,500
2,735,000
1,857,500
3,190,000
104,000
10,500,000
1,085,150
Actual
$ 5,748,335
12,685
5,761,020
22,609,456
28,370,476
5,491,196
3,381,651
13,410
1,355,430
1,758,272
4,008,220
211,543
12,195,428
1,124, 640
Variance
$ (26,665)
12,685
(13,980)
(2,217,961)
(2,231,941)
4,945, 304
(646,651)
(13,410)
502,070
(1,758,272)
(818,220)
(107,543)
(1,695,428)
(39,490)
80
COUNTY OF WELD
STATE OF COLORADO
Social Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
EXPENDITURES (CONTINUED):
OAP - A
Core services
Administrative - LEAP
Total Public Health and Welfare
Original Final
162,000
250,000
152,000
24,469,150
162,000
250,000
283,000
Actual
145,660
413,630
465,584
30,603,150 30,564,664
Capital Outlay 255,000 2,055,810
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
24,724,150
12,740
32,658,960 30,577,404
2,260,810
2,260,810
(695,733) 204,267
1,066,640 1,066,640
2,260,810
2,260,810
53,882
1,066,640
Variance
16,340
(163,630)
(182, 584)
38,486
2,043,070
2,081,556
(150,385)
Fund Balances at End of Year $ 370,907 $ 1,270,907 $ 1,120,522 $ (150,385)
81
COUNTY OF WELD
STATE OF COLORADO
Human Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
REVENUES
Intergovernmental:
Federal grants
State grants
Total Intergovernmental
Charges for Services:
Charges for services
Total Charges for Services
Miscellaneous:
Donations from private sources
Other revenue
Total Miscellaneous
Total Revenues
EXPENDITURES
Economic Assistance:
Human resources general fund
Head start
Migrant head start
Preschool program
FENWC carryover
Job service
Summer job hunt
Jobs/New directions
Employment first
TANF
WIA administration
WIA adult programs
WIA youth programs
JTPA IIB
10% Discretionary Grant
National emergency
WIA planning
WIA dislocated worker
Human resources lab pool
UI training program
Original Final
$ 11,709,436
2,093,569
$ 12,907,050
2,311,869
13, 803,005 15, 218, 919
445,510
445,510
145,100
145,100
585,510
585,510
145,100
145,100
14,393,615 15,949,529
Actual
$ 11,718,488
2,097,946
13,816,434
851,818
851,818
165,765
39,185
204,950
Variance
$ (1,188,562)
(213,923)
(1,402,485)
266,308
266,308
20,665
39,185
59,850
14,873,202 (1,076,327)
157
3,032,279 3,032,279 3,200,539
1,532,460 1,532,460 1,310,509
147,510 147,510 144,022
- 24,146
780,000 857,400 969,799
33,000 38,500 33,499
50,000 50,000 -
178,500 363,000 377,055
738,220 738,220 783,615
130,750 130,750 138,356
376,710 568,000 585,855
597,893 1,250,000 1,213,888
54,578 54,578 30,402
18,000 80,000 105,902
166,610 240,000 217,652
25,000 25,000 20,534
299,073 435,000 472,692
240,000 380,000 401,237
221,200 255,000 261,607
(157)
(168,260)
221,951
3,488
(24,146)
(112,399)
5,001
50,000
(14,055)
(45,395)
(7,606)
(17,855)
36,112
24,176
(25,902)
22,348
4,466
(37,692)
(21,237)
(6,607)
82
COUNTY OF WELD
STATE OF COLORADO
Human Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budget - GAAP Basis
EXPENDITURES (CONTINUED):
One stop
Family support program
AAA administration
OAA title III -B
OAA title III -C1 congregate
OAA title III -C2
OAA in home support
Health services
AAA elder abuse
AAA ombudsman
Single entry point
FTA
CHIP Grant
NCMC Grant
Vale Grant
AAA case management
AAA state funds
Medicaid transportation
Supplemental foods
Part E family caregiver support
CSBG
Hire Colorado
Total Economic Assistance
Capital Outlay
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
OAA area agency
Total Other Financing Sources
Net Change in Fund Balance
Fund Balances at Beginning of Year
Original Final
255,750 255,750
83,051 83,051
76,951 76,951
230,430 230,430
450,110 450,110
41,450 41,450
20,210 20,210
2,910 2,910
5,740 5,740
998,280 998,280
10,000 10,000
5,000 5,000
10,000 10,000
476,520 476,520
2,840,481 2,840,481
85,310 85,310
191,990 191,990
14,405,966
15,961,880
14,405,966 15,961,880
12,351 12,351
12,351 12,351
978,403 978,403
Fund Balances at End of Year $ 978,403 $ 978,403
Actual
191,322
74,688
74,814
236,946
488,825
68,537
20,555
2,305
2,275
5,746
953,179
7,826
3,450
10,798
866
516,909
657
1,399,932
101,248
170,137
60
14,622,541
30,046
Variance
64,428
8,363
2,137
(6,516)
(38,715)
(27,087)
(345)
(2,305)
635
(6)
45,101
(7,826)
10,000
1,550
(798)
(866)
(40,389)
(657)
1,440,549
(15,938)
21,853
(60)
1,339,339
(30,046)
14,652,587
12,351
12,351
232,966
978,403
$ 1,211,369
1,309,293
232,966
$ 232,966
83
COUNTY OF WELD
STATE OF COLORADO
Contingent Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted - GAAP Basis
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Transfers - Out:
Other
Total Other Financing (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
$
7,400,000
7,400,000
(7,400,000)
7,450,927
$ 50,927
Actual
Variance
$ - $ (1,694) $
- (227)
6,400,000
6,400,000
(1,921)
(1,921)
(1,000,000) (1,000,000)
(1,000,000) (1,000,000)
(7,400,000)
7,450,927
(1,694)
(227)
(1,921)
(1,921)
6,400,000
6,400,000
(1,001,921) 6,398,079
7,450,927
$ 50,927 $ 6,449,006 $ 6,398,079
84
Supplemental Information
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2009
NON -MAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Special revenue funds account for taxes or other earmarked revenue of the County that finances specified
activities as required by law or administrative action.
Conservation Trust Fund:
The Conservation Trust Fund accounts for revenue received from the State of Colorado to be used for
the acquisition, development and maintenance of new and existing conservation sites within Weld
County. The funds are derived from the Colorado State Lottery.
Emergency Fund:
The Emergency Fund accounts for the "Emergency Reserve" required by "Amendment One" to the
Colorado Constitution.
Public Health Fund:
The Weld County Public Health Department provides health services to County residents. The fund
reflects revenue and expenditures for health care, health education, health monitoring and other
related activities.
Solid Waste Fund:
This fund accounts for revenue received from a surcharge on dumping fees at solid waste disposal
sites for the purpose of combating environmental problems and for the further improvement and
development of landfill sites within the County.
Law Enforcement Authority Funds
These funds accounts for the revenue of the law enforcement authority. The authority is a taxing unit
created by the County to provide additional law enforcement services by the County Sheriff to
residents in a developed unincorporated area of the County
85
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2009
PROPRIETARY FUNDS
Enterprise Funds
Enterprise funds account for operations that are financed and operated in a manner similar to private business
enterprises where the intent of the governing body is that the costs (expenses including depreciation) of
providing goods or services to the general public on a continuing basis be financed or recovered primarily
through user charges; or where the governing body has d ecided that periodic determination or revenue earned,
expenses incurred, and/or net income is appropriated for capital maintenance, public policy, management
control, accountability or other purposes.
Paramedic Services Fund:
This fund accounts for the ambulance services provided to Weld County.
Internal Service Funds
Motor Vehicle Fund:
This fund accounts for the revenue and costs generated by equipment and vehicles rented to various
departments of the County.
Health Insurance Fund:
This fund accounts for the County's self -insured dental and vision coverage. Revenue is generated
from contributions from the employees of the County. Disbursements are made after insured claims
have been verified and approved.
Insurance Fund:
This fund accounts for all insurance costs for the County, except health insurance. This program is a
combination of insured risks and protected self-insurance risks.
Phone Services Fund:
This fund accounts for all phone costs provided to the County and other outside agencies on a cost -
reimbursement basis.
86
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2009
FIDUCIARY FUNDS
Agency Funds
Agency funds account for assets held by the County as an agent for individuals, private organizations and/or
other governments.
General Agency Fund:
This fund account for all monies collected (principally tax collections) by the Weld County Treasurer
for various other local governmental units within the County.
Payroll Agency Fund:
This fund accounts for the accumulation of County payrolls and related withholdings. Disbursements
are made to the appropriate financial institutions through the payroll direct deposit system and the
various vendors for the withholdings.
Employee Flexible Spending:
This fund accounts for Weld County's Section 125, voluntary tax-sheltered plan, which the County
administers directly. Employee contributions to the plan are refunded upon submission of
documentation for un-reimbursed claims.
87
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2009
COMPONENT UNITS
Component units are tied to the County with some board control. They operate as a separate fund but the
information is discretely presented.
Housing Authority Fund:
This fund works with all the low income citizens of Weld County to help with rent assistance or
housing repair.
E-911 Authority Fund:
This fund operates under state statute, Article 11 of Title 29, C.R.S.. They are responsible for
administering the operations of the 911 emergency telephone service program in Weld County
88
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Combining Balance Sheet
Non -Major Governmental Funds
December 31, 2009
Conservation Emergency Public Health
Trust Fund Fund Fund
ASSETS
Cash and short-term investments
Receivables (net of allowance for uncollectibles):
Current property taxes
Delinquent property taxes
Accounts
Due from other County funds
Inventories
Other assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Accrued liabilities
Other liabilities
Due to other County funds
Unearned revenue
Unexpended grant revenue
Total Liabilities
Fund Balances:
Reserved for other assets
Reserved for emergency
Unreserved:
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
$ 258,765 $ 6,000,000 $ 873,130
- - 1,117,925
- - 1,318
- 7,125
$ 258,765 $ 6,000,000 $ 1,999,498
89,661
237,624
11,169
218,661
557,115
- 7,125
6,000,000
258,765 - 1,435,258
258,765
6,000,000 1,442,383
$ 258,765 $ 6,000,000 $ 1,999,498
See the accompanying independent auditors' report 90
Total
Law Nonmajor
Solid Waste Enforcement Governmental
Fund Authority Fund Funds
$ 151,967 $ 31,797 $ 7,315,659
- - 1,117,925
- - 1,318
- 7,125
$ 151,967 $ 31,797 $ 8,442,027
3,464 - 93,125
- - 237,624
- 30,652 41,821
- - 218,661
3,464
148,503
148,503
30,652 591,231
7,125
6,000,000
1,145 1,843,671
1,145 7,850,796
$ 151,967 $ 31,797 $ 8,442,027
See the accompanying independent auditors' report 91
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
Non -Major Governmental Funds
For the fiscal year ended December 31, 2009
Conservation Emergency Public Health
Trust Fund Fund Fund
REVENUES:
Taxes:
Taxes
Intergovernmental
Charges for services
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety
Public health and welfare
Culture and recreation
Capital outlay
Total Expenditures
Excess of Revenues Over (Under)
Expenditures
Other Financing Sources (Uses):
Transfers - In
Transfers - Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
$
$ - $
408,648 - 3,460,168
1,594,818
6,241 - 55,191
414,889 - 5,110,177
8,168,182
396,115 - -
18,387
396,115 - 8,186, 569
18,774 - (3,076,392)
1,000,000 3,725,471
1,000,000 3,725,471
18,774 1,000,000
239,991 5,000,000
649,079
793,304
$ 258,765 $ 6,000,000 $ 1,442,383
See the accompanying independent auditors' report 92
Solid Waste
Fund
$
686,042
686,042
173,324
173,324
512,718
(592,909)
(592,909)
(80,191)
228,694
Law
Enforcement
Authority
Funds
$ 30,782
30,782
31,082
31,082
(300)
(300)
1,445
$ 148,503 $ 1,145
Total
Nonmajor
Governmental
Funds
$ 30,782
3,868,816
2,280,860
61,432
6,241,890
204,406
8,168,182
396,115
18,387
8,787,090
(2,545,200)
4,725,471
(592,909)
4,132, 562
1,587,362
6,263,434
$ 7,850,796
See the accompanying independent auditors' report 93
COUNTY OF WELD
STATE OF COLORADO
Capital Expenditures Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
REVENUES
General property taxes
Penalties & interest
Total Taxes
Grant
Fees
Earnings on deposits
Total Revenues
EXPENDITURES
Capital Outlay:
Buildings
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
General Fund
Total Other Financing Sources
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund balance at End of Year
Original Final
Actual
Variance
$ 8,000,000 $ 8,000,000 $ 7,965,588 $ (34,412)
17,779 17,779
8,000,000
8,000,000
300,000
100,000
8,000,000
3,900,000
300,000
100,000
16,400,000 12,300,000
21,943,612 18,343,612
21,943,612 18,343,612
500,000
500,000
(5,543,612) (5,543,612)
7,983,367
1,530,173
64,038
148,744
(16,633)
(2,369,827)
(235,962)
48,744
9,726,322 (2,573,678)
9,661,732
9,661,732
500,000
500,000
564,590
3,478,977 3,478,977 3,478,977
8,681,880
8,681,880
6,108,202
$ (2,064,635) $ (2,064,635) $ 4,043,567 $ 6,108,202
See the accompanying independent auditors' report 94
COUNTY OF WELD
STATE OF COLORADO
Conservation Trust Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
State lottery
Miscellaneous:
Earnings on deposits
Total Revenues
EXPENDITURES
Culture and Recreation:
Land improvements
Capital Expenditures
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund balances at End of Year
$ 420,000 $ 420,000 $ 408,648 $ (11,352)
5,000 5,000
425,000 425,000
401,601
23,399
401,601
23,399
425,000 425,000
6,241 1,241
414,889 (10,111)
396,115
5,486
23,399
396,115 28,885
18,774
239,991 239,991 239,991
18,774
$ 239,991 $ 239,991 $ 258,765 $ 18,774
See the accompanying independent auditors' report 95
COUNTY OF WELD
STATE OF COLORADO
Emergency Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
REVENUES
Taxes:
Total Revenues
EXPENDITURES
Other Financing Sources (Uses):
Transfers - In:
Non -Departmental
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Original Final
5,000,000
(5,000,000)
Fund Balances at Beginning of Year 5,000,000
Fund Balances at End of Year
6,000,000
1,000,000
1,000,000
Actual
1,000,000
1,000,000
(5,000,000) 1,000,000
5,000,000 5,000,000
$ - $
$ 6,000,000
Variance
6,000,000
6,000,000
$ 6,000,000
See the accompanying independent auditors' report 96
COUNTY OF WELD
STATE OF COLORADO
Public Health Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
State grants
Counties
Total Intergovernmental
Charges for Services:
Charges for services
Total Charges for Services
Miscellaneous:
Fees and fines
Other
Donations
Total Miscellaneous
Total Revenues
EXPENDITURES
Public Health and Welfare:
Public health administration
Health education
Nursing
Environmental health
Public Health Preparedness
Total Public Health and Welfare
Capital Outlay:
Environmental health
Public Health Preparedness
Total Capital Outlay
Total Expenditures
$ 2,790,117 $ 4,282,199 $ 3,460,168 $ (822,031)
3,590,471 3,217,562 - (3,217,562)
6,380,588 7,499,761 3,460,168 (4,039,593)
1,376,443 1,482, 311
1,376,443 1,482, 311
2,500
28,000
2,500
10,000
28,000
1,594,818 112,507
1,594,818 112,507
9,862
15,925
29,404
7,362
5,925
1,404
30,500 40,500 55,191 14,691
7,787,531 9,022,572
215,000
629,567
4,834,554
2,307,434
125,976
220,763
1,436,812
4,590,701
2,659,403
1,119,166
8,112, 531 10, 026, 845
22,169
5,110,177 (3,912,395)
193,361
1,262,858
3,865,228
2,427,677
419,058
27,402
173,954
725,473
231,726
700,108
8,168,182 1,858,663
18,387 3,782
5,500 - 5,500
27,669
8,112, 531 10, 054, 514
18,387 9,282
8,186,569 1,867,945
Other Financing Sources (Uses):
Transfers - In:
Non Departmental 325,000 325,000 3,725,471 3,400,471
Total Other Financing Sources 325,000 325,000 3,725,471 3,400,471
Net Change in Fund Balance
Fund Balances at Beginning of Year 793,304
Fund Balance at End of Year $ 793,304 $ 86,362 $ 1,442,383 $ 1,356,021
(706,942) 649,079 1,356,021
793,304 793,304
See the accompanying independent auditors' report 97
COUNTY OF WELD
STATE OF COLORADO
Solid Waste Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Original Final Actual Variance
REVENUES
Landfill surcharge
Total Revenues
EXPENDITURES
Miscellaneous:
Solid waste
Total Miscellaneous
Total Expenditures
Other Financing Sources (Uses):
Transfers - Out:
General Fund
Health department
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
$ 660,000 $ 695,909 $ 686,042 $ (9,867)
660,000 695,909
330,000 103,000
330,000 103,000
330,000 103,000
(330,000)
(330,000)
(85,000)
(507,909)
686,042 (9,867)
173,324 (70,324)
173,324 (70,324)
173,324 (70,324)
(85,000)
(507,909)
(592,909) (592,909)
(80,191) (80,191)
228,694 228,694 228,694
Fund Balances at End of Year $ 228,694 $ 228,694 $ 148,503 $ (80,191)
See the accompanying independent auditors' report 98
COUNTY OF WELD
STATE OF COLORADO
Bebee Draw Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Specific ownership taxes
Penalties & Interest
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
$ 16,303 $ 16,303 $ 16,303 $
1,400 1,400 1,295
- 42
17,703 17,703
17,703 17,703
17,703 17,703
Fund Balances at Beginning of Year 783
Fund Balances at End of Year
(105)
42
17,640 (63)
17,947 (244)
17,947 (244)
(307) (307)
783 783
$ 783 $ 783 $ 476 $ (307)
See the accompanying independent auditors' report 99
COUNTY OF WELD
STATE OF COLORADO
Pioneer Community Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 1,224 $ 1224 $ 1,216 $ (8)
- 35 35
1,224 1,224
1,224 1,224
1,224 1,224
1,251 27
1,244 (20)
1,244 (20)
7 7
662 662 662
$ 662 $ 662 $ 669 $ 7
See the accompanying independent auditors' report 100
COUNTY OF WELD
STATE OF COLORADO
South West Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 12,114 $ 12,114 $ 11,891 $ (223)
12,114 12,114
12,114 12,114
12,114 12,114
$ - $
11,891 (223)
11,891 223
11,891 223
$ - $
See the accompanying independent auditors' report 101
COUNTY OF WELD
STATE OF COLORADO
Housing Authority
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
REVENUES
Intergovernmental:
Federal Grants
State Grants
Total Intergovernmental
Miscellaneous:
Earnings on deposits
Miscellaneous
Total Miscellaneous
Total Revenues
EXPENDITURES
Rent assistance
Supplies
Depreciation
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
$
2,642,141
2,642,141
2,642,141
2,364,404
260,304
2,624,708
17,433
$
2,642,141
2,642,141
2,642,141
2,364,404
260,304
2,624,708
17,433
Actual
$
2,527,882
2,527,882
10,443
57,008
67,451
2,595,333
2,315,345
438,922
1,303
2,755,570
(160,237)
2,534,008
Variance
$
(114,259)
(114,259)
10,443
57,008
67,451
(46,808)
49,059
(178,618)
(1,303)
(130,862)
(177,670)
2,534,008
$ 17,433 $ 17,433 $ 2,373,771 $ 2,356,338
See the accompanying independent auditors' report 102
COUNTY OF WELD
STATE OF COLORADO
E-911 Authority
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Original Final Actual Variance
REVENUES
Miscellaneous:
Earnings on deposits
Charge for service
Total Revenue
EXPENDITURES
Personnel Services
Depreciation
Purchased services
Supplies
Grants and donations
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
$ 130,000 $ 130,000 $ 103,617 $ (26,383)
1,965,000 1,965,000 1,873,189 (91,811)
2,095,000 2,095,000
895,987
121,000
523,615
217,966
895,987
121,000
523,615
217,966
1,758,568 1,758,568
1,976,806 (118,194)
239,534
1,054,978
276,861
161
1,571,534
336,432 336,432 405,272
4,970,304 4,970,304 4,970,304
895,987
(118, 534)
(531,363)
(58,895)
(161)
187,034
68,840
Fund Balances at End of Year $ 5,306,736 $ 5,306,736 $ 5,375,576 $ 68,840
See the accompanying independent auditors' report 103
The public report burden for this information collection is estimated to average 380 hours annually.
Financial Planning 02/01
Form # 350-050-36
LOCAL HIGHWAY FINANCE REPORT
City or County: Weld
YEAR ENDING :
December 2009
This Information From The Records Of County of Weld
Prepared By: Barbara Connolly
Phone: (970) 356-4000 X 4445
I. DISPOSITION OF HIGHWAY -USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE
ITEM
1. Total receipts available
A. Local
Motor -Fuel
Taxes
PURPOSES
B. Local
Motor -Vehicle
Taxes
III. DISBURSEMENTS
AND
C. Receipts from
State Highway-
User Taxes
FOR
STREET PURPOSES
D. Receipts from
Federal Highway
Administration
ROAD
2. Minus amount used for collection expenses
3. Minus amount used for nonhighway purposes
4. Minus amount used for mass transit
5. Remainder used for hi:hwa . Doses
II. RECEIPTS FOR ROAD AND STREET
ITEM
AMOUNT
ITEM
AMOUNT
A. Receipts from local sources:
A. Local highway disbursements:
1. Local highway -user taxes
1. Capital outlay (from page 2)
3,537,949
a. Motor Fuel (from Item I.A.5.)
2. Maintenance:
19,053,267
b. Motor Vehicle (from Item I.B.5.)
3. Road and street services:
c. Total (a.+b.)
a. Traffic control operations
2. General fund appropriations
b. Snow and ice removal
1,684,420
3. Other local imposts (from page 2)
13,514,047
c. Other
342,598
4. Miscellaneous local receipts (from page 2)
3,291,548
d. Total (a. through c.)
2,027,018
5. Transfers from toll facilities
4. General administration & miscellaneous
2,559,358
6. Proceeds of sale of bonds and notes:
5. Highway law enforcement and safety
a. Bonds - Original Issues
6. Total (1 through 5)
27 177 592
b. Bonds - Refunding Issues
B. Debt service on local obligations:
c. Notes
1. Bonds:
d. Total (a. + b. + c.)
0
a. Interest
7. Total (1 through 6)
16,805,595
b. Redemption
B. Private Contributions
c. Total a. + b.
0
C. Receipts from State government
(from page 2)
2. Notes:
17,139,113
a. Interest
D. Receipts from Federal Government
from page 2)
b. Redemption
150,977
c. Total (a. + b.)
0
3. Total (1.c + 2.c)
0
E. otal recei i is (A.7 + B + C + D)
34,095,685
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements (A.6 + B.3 + C + D)
27,177,592
IV.
LOCAL HIGHWAY
(Show all entries
DEBT STATUS
at par)
Opening Debt
Amount Issued
Redemptions
Closing Debt
A. Bonds Total
0
1. Bonds efundin Portion
B. otes ota )
)
V. LOCAL ROAD AND STREET FUND BALANCE
A. Beginning Balance
B. Total Receipts IC. Total Disbursementi D. Ending Balance
E. Reconciliation
16,360,758
34,095,685 I
27,177,592
1 23,278,851 _
0
Notes and Comments:
FORM FHWA-536 (Rev. 1-05)
PREVIOUS EDITIONS OBSOLETE
1
(Next Page)
See the accompanying independent auditors' report 104
LOCAL HIGHWAY FINANCE REPORT
STATE:
Colorado
YEAR ENDING (mm/yy):
December 2009
II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL
ITEM
AMOUNT
ITEM
AMOUNT
A.3. Other local im I osts:
A.4. Miscellaneous local recei its:
a. Property Taxes and Assessments
7,347,651
a. Interest on investments
84,977
b. Other local imposts:
b. Traffic Fines & Penalities
1. Sales Taxes
c. Parking Garage Fees
2. Infrastructure & Impact Fees
d. Parking Meter Fees
3. Liens
e. Sale of Surplus
Property
4. Licenses
f. Charges for Services
2,537,699
5. Specific Ownership &/or Other
6,166,396
g. Other Misc. Receipts
623,878
6. Total (1. through 5.)
6,166,396
h. Other
44,994
c. Total a. + b.
13,514,047
(Ca forward to .a_e 1)
i. Total a. through h.
3,291,548
(Ca forward to .a_e 1)
ITEM
AMOUNT
ITEM
AMOUNT
C. Recei i ts from State Government
D. Recel' ts from Federal Government
1. Hi:hwa -user taxes
8,897,453
1. FHWA from Item I.D.5.
2. State general funds
2. Other Federal agencies:
3. Other State funds:
a. Forest Service
108,885
a. State bond proceeds
b. FEMA
b. Project Match
c. HUD
c. Motor Vehicle Registrations
340,570
d. Federal Transit Admin
d. Other (Specify) - DOLA Grant
4,515,941
e. U.S. Corps of Engineers
e. Other (Specify)
3,385,149
f. Other Federal
42,092
f. Total (a. through e.)
8,241,660
g. Total (a. through f.)
150 977
4. Total 1. + 2. + 3.
III. DISBURSEMENTS
17,139,113
FOR ROAD AND STREET
3. Total 1. + 2. :
PURPOSES - DETAIL
(Carry forward to page 1)
A.1. Ca i ital outla :
a. Right -Of -Way Costs
ON NATIONAL
HIGHWAY
SYSTEM
a
OFF NATIONAL
HIGHWAY
SYSTEM
b
353,003
TOTAL
c
353,003
b. En:ineerin: Costs
c. Construction:
0
0
0
(1). New Facilities
(2). Capacity Improvements
745,702
745,702
(3). System Preservation
2,439,244
2,439,244
(4). System Enhancement & Operation
0
(5). Total Construction (1) + (2) + (3) + (4)
0
3,184,946
3,184,946
d. Total Ca,ital Outla Lines l.a. + l.b. + 1.c.5
0
3,537,949
3,537,949
(Carry forward to page 1)
Notes and Comments:
FORM FHWA-536 (Rev.1-05)
PREVIOUS EDITIONS OBSOLETE
2
See the accompanying independent auditors' report 105
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Net Assets
Internal Service Funds
December 31, 2009
Motor Vehicle Health
Fund Insurance Fund Insurance Fund
ASSETS
Current Assets:
Cash and cash equivalents
Receivables (net of allowances for uncollectables):
Current property taxes
Delinquent property taxes
Accounts
Due from other county funds
Inventories
Other assets
Total current assets
Fixed assets:
Improvements other than buildings
Buildings
Machinery and equipment
Accumulated depreciation
Total Fixed Assets
Total assets
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable
Accrued liabilities
Due to other county funds
Unearned revenue
Unexpended grant revenue
Total Current Liabilities
Total Liabilities
Net Assets
Invested in capital assets
Restricted for:
Workers' compensation
Unrestricted
Total net assets
$ 1,151,425 $ 4,439,059 $ 2,695,935
569,804
71,813
1,793,042
580,500
1,800,977
30,814,975
(18,699,173)
14,497,279
1,488,836
17,176
203 -
16,200
4,439,262 4,218,147
$ 16,290,321 $ 4,439,262 $ 4,218,147
$ 536,359 $ 23,051 $ 111,982
- - 1,718,456
2,158 800
- - 1,507,956
968,337 -
538,517
538,517
14,497,279
992,188 3,338,394
992,188 3,338,394
1,254,525 3,447,074
879,753
$ 15,751,804 $ 3,447,074 $ 879,753
See the accompanying independent auditors' report 106
Phone Services
Fund
$ 884,067
15,845
36,556
936,468
1,935,726
(1,243,766)
691,960
$ 1,628,428
$ 13,335
25,187
38,522
38,522
691,960
897,946
$ 1,589,906
Total Internal
Service Funds
$ 9,170,486
1,488,836
17,176
585,852
16,200
71,813
36,556
11,386,919
580,500
1,800,977
32, 750, 701
(19,942,939)
15,189,239
$ 26, 576,158
$ 684,727
1,743,643
2,958
1,507,956
968,337
4,907,621
4,907,621
15,189,239
879,753
5,599,545
$ 21,668,537
See the accompanying independent auditors' report 107
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Revenues, Expenses and Changes in Net Assets
Internal Service Funds
For the fiscal year ended December 31, 2009
Operating revenues:
Contributions
Charges for services
Total operating revenues
Operating expenses:
Personnel services
Supplies
Purchased services
Insurance and bonds
Depreciation
Other
Claims
Total operating expenses
Operating income (loss)
Nonoperating revenues (expenses):
Taxes
Miscellaneous
Interest income
Grants
Gain (loss) on disposition of assets
Judgements and damages
Total nonoperating revenues (expenses)
Income (loss) before contributions and transfers
Transfers in
Changes in net assets
Total net assets - beginning
Total net assets - ending
Motor Vehicle
Fund
7,422,831
Health Insurance
Fund
$ 11,056,492
7,422,831 11,056,492
1,786,902
3,139,573
2,766,593
55,118
13,798
24,868
(8,000)
114
11,181,500
7,748,186 11,212,280
(325,355)
100
500,000
271,618
25,213
796,931
471,576
471,576
15,280,228
$ 15, 751, 804
(155,788)
(155,788)
(155, 788)
3,602,862
$ 3,447,074
Insurance Fund
201,602
201,602
1,175
43,964
956,696
368
1,159, 760
2,161,963
(1,960,361)
1,497,239
60,236
15,223
1,572,698
(387,663)
1,000,000
612,337
267,416
$ 879,753
See the accompanying independent auditors' report 108
Phone Services Total Internal
Fund Set -vice Funds
$ - $ 11,056,492
1,172,535 8,796,968
1,172, 535 19,853,460
167,766
33,369
723,840
209,525
52,090
167,766
1,835,244
3,932,245
948,696
2,976,118
107,690
12,341,260
1,186,590 22,309,019
(14,055) (2,455,559)
(1,923)
1,497,239
100
60,236
500,000
269,695
40,436
(1,923) 2,367,706
(15, 978)
(15, 978)
1,605,884
$ 1,589,906
(87,853)
1,000,000
912,147
20,756,390
$ 21,668,537
See the accompanying independent auditors' report 109
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Internal Service Funds
For the fiscal year ended December 31, 2009
Motor Vehicle Health Insurance
Fund Fund
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers
Cash flows from internal customers
Cash payments to external suppliers for goods and services
Cash payments to internal suppliers for goods and services
Cash payments to employees for services
Judgements/damages/losses
Miscellaneous revenues
Net cash provided (used) by operating activities
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes
Transfers/Advances
Net cash provided by noncapital financing activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Proceeds from sale of capital assets
Net cash provided (used) for capital and related
financing activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments
Net Increase (decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of operating income to net cash
provided (used) by operating activities:
Operating income
Adjustments to reconcile operating income to
net cash provided (used ) by operating activities:
Depreciation expense
Judgements/damages/losses
Miscellaneous revenue
Change in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in due from other funds
(Increase) decrease in inventories
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in other liabilities
Increase (decrease) in deferred revenue
Total adjustments
Net cash provided by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Loss on Disposal of Asset
$ 390,845 $
6,984,022
(4,509,006)
(114,991)
25,213
100
2,776,183
(2,983,672)
373,362
11,185, 481
(11,011,368)
(808)
(208,106)
(34,801)
(2,610,310) -
165,873 (34,801)
985,552 4,473,860
$ 1,151,425 $ 4,439,059
$ (325,355) $
2,766,593
25,213
100
(42,330)
237,644
(45,132)
183,633
(155,788)
(203)
17,026
13,164
(24,183) 800
90,200
3,101,538 120,987
2.775,E $3 $ ('4.801)
$ (3,556)
$ 13,744
See the accompanying independent auditors' report 110
Insurance Phone Service Total Internal
Fund Fund Service Funds
$ 1,207 $ 118,817 $ 510,869
194,024 1,053,746 19,417,273
(1,677,042) (763,456) (17,960,872)
- (75,721) (191,520)
- (158,141) (366,247)
15,223 - 40,436
- - 100
(1,466,588) 175,245 1,450,039
1,495,839
1,000,000
1,495,839
1,000,000
2,495,839 - 2,495,839
(224,248) (3,207,920)
373,362
(224,248) (2,834,558)
60,236 - 60,236
1,089,487 (49,003) 1,171,556
1,606,448 933,070 7,998,930
2,695,935 $ 884.067 $ 9,170,486
$ (1,960,361) $ (14,055) $ (2,455,559)
15,223
209,525 2,976,118
40,436
100
(7,653) 6,084 (44,102)
(7,568) 50,403 280,479
(28,106)
63,714 (36,556) 223,955
422,405 (47,037) 375,368
6,881 (16,502)
7,652 - 97,852
493,773 189,300 3,905,598
$ j1,466 58$) $ 175 $_.1,450-039
$ - $ (3,556)
$ 1,923 $ 15,667
See the accompanying independent auditors' report 111
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Changes in Assets and Liabilities
Fiduciary Funds
For the fiscal year ended December 31, 2009
Balance Balance
1/1/2009 Additions Deductions 12/31/2009
GENERAL AGENCY FUND
Assets:
Cash and short-term investments
Total Assets
Liabilities:
Accounts payable
Due to other governments
Total Liabilities
PAYROLL AGENCY FUND
Assets:
Cash and short-term investments
Accounts receivable
Total Assets
Liabilities:
Accounts payable
Total Liabilities
EMPLOYEE FLEXIBLE SPENDING
Assets:
Cash and short-term investments
Total Assets
Liabilities:
Accounts payable
Total Liabilities
TOTAL - ALL AGENCY FUNDS
Assets:
Cash and short-term investments
Accounts receivable
Total Assets
Liabilities:
Accounts payable
Due to other governments
Total Liabilities
$ 2,569,860 $ 3,186,014 $ 2,438,698 $ 3,317,176
$ 2,569,860 $ 3,186,014 $ 2,438,698 $ 3,317,176
$ 115 $ 66,065 $ 66,180 $ -
2,569,745 3,317,175 2,569,744 3,317,176
$ 2,569,860 $ 3,383,240 $ 2,635,924 $ 3,317,176
$ 100,980 $ 23,314,351 $ 23,364,201 $ 51,130
166 166 332
$ 101,146 $ 23,314,517 $ 23,364,533 $ 51,130
$ 101,146 $ 23,823,071 $ 23,873,087 51,130
$ 101,146 $ 23,823,071 $ 23,873,087 $ 51,130
$ 46,515 $ 835,013 $ 823,378 $ 58,150
$ 46,515 $ 835,013 $ 823,378 $ 58,150
$ 46,515 $ 58,150 $ 46,515 58,150
$ 46,515 $ 58,150 $ 46,515 $ 58,150
$ 2,717,355 $ 27,335,378 $ 26,626,277 $ 3,426,456
166 166
332
$ 2,717,521 $ 27,335,544 $ 26,626,609 $ 3,426,456
$ 147,776 $ 23,947,286 $ 23,985,782 $ 109,280
2,569,745 3,317,175 $ 2,569,744 3,317,176
$ 2,717,521 $ 27,264,461 $ 26,555,526 $ 3,426,456
See the accompanying independent auditors' report 112
COUNTY OF WELD
STATE OF COLORADO
Paramedic Services Fund
Schedule of Revenues, Expenses and
Changes in Net Assets - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Operating Revenues:
Rescue unit fees
Total Operating Revenues
Operating Expenses:
Bad debt expense
Personnel services
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues:
State grants
Fees
Other
Gain (loss) on disposition of assets
Total Nonoperating Revenues
Income(loss) before contributions and transfers
Capital contributions
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at end of Year
Original Final
Actual
Variance
$ 8,559,799 $ 8,559,799 $ 7,426,884 $ (1,132,915)
8,559,799 8,559,799 7,426,884 (1,132,915)
2,665,641
4,310,174
313,000
755,555
162,129
141,700
8,348,199
211,600
2,665,641
4,310,174
313,000
755,555
162,129
141,700
3,521,859
4,293,947
299,732
903,899
253,894
28,077
8,348,199 9,301,408
211,600 (1,874,524)
38,400 38,400
38,400 38,400
250,000 250,000
250,000 1,635,000
84,750
12,083
30,820
5,225
132,878
(1,741,646)
3,556
(353,090)
3,445,178 3,445,178 3,445,178
(856,218)
16,227
13,268
(148,344)
(91,765)
113,623
(953,209)
(2,086,124)
46,350
12,083
30,820
5,225
94,478
(1,991,646)
3,556
(1,988,090)
$ 3,695,178 $ 5,080,178 $ 3,092,088 $ (1,988,090)
See the accompanying independent auditors' report 113
COUNTY OF WELD
STATE OF COLORADO
Motor Vehicle Fund
Schedule of Revenues, Expenses and
Changes in Net Assets - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Operating Revenues:
Charges for services
Miscellaneous
Total Operating Revenues
Operating Expenses:
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating income (loss)
Nonoperating Revenues (Expenses):
Miscellaneous
Grants
Gain (loss) on disposition of assets
Judgements and damages
Total Nonoperating Revenues(Expenses)
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
Actual
Variance
$ 5,500,000 $ 5,500,000 $ 4,229,965 $ (1,270,035)
2,500,000 2,500,000 3,192,866 692,866
8,000,000
3,032,000
2,853,500
2,500,000
56,000
8,441,500
(441,500)
456,500
456,500
15,000
15,280,228
$ 15,295,228
8,000,000
3,032,000
2,853,500
2,500,000
56,000
8,441,500
(441, 500)
456,500
456,500
15,000
15,280,228
$ 15,295,228
7,422,831
1,786,902
3,139,573
2,766,593
55,118
7,748,186
(325,355)
100
500,000
271,618
25,213
796,931
471,576
15,280,228
$ 15,751,804
(577,169)
1,245,098
(286,073)
(266,593)
882
693,314
116,145
100
500,000
(184,882)
25,213
340,431
456,576
$ 456,576
See the accompanying independent auditors' report 114
COUNTY OF WELD
STATE OF COLORADO
Health Insurance Fund
Schedule of Revenues, Expenses and
Changes in Net Assets - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Operating Revenues:
Contributions
Operating Expenses:
Supplies
Purchased services
Insurance and bonds
Other
Claims
Total Operating Expenses
Operating Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
Actual
$ 10,530,000 $ 12,000,000 $ 11,056,492
181,000
1,258,000
181,000
1,258,000
9,091,000 10,561,000
10,530,000 12,000,000
13,798
24,868
(8,000)
114
11,181,500
11,212,280
Variance
$ (943,508)
(13, 798)
156,132
1,266,000
(114)
(620,500)
787,720
(155,788) (155,788)
3,602,862 3,602,862 3,602,862
$ 3,602,862 $ 3,602,862 $ 3,447,074
$ (155,788)
See the accompanying independent auditors' report 115
COUNTY OF WELD
STATE OF COLORADO
Insurance Fund
Schedule of Revenues, Expenses and
Changes in Net Assets - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Supplies
Purchased services
Insurance and bonds
Other
Claims
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
Taxes
Penalties & interest
Interest income
Judgments and damages
Total Nonoperating Revenues (Expenses)
Income (Loss) Before Operating Transfers
Transfers:
Transfers - in
Total transfers in (out)
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
$ 250,000
500
31,700
625,000
500
1,172, 300
1,830,000
(1,580,000)
1,500,000
40,000
40,000
1,580,000
267,416
Actual
Variance
$ 250,000 $ 201,602 $ (48,398)
500
31,700
675,000
500
1,172,300
1,880,000
(1,630,000)
1,500,000
40,000
40,000
1,580,000
(50,000)
1,000,000
1,000,000
950,000
267,416
1,175
43,964
956,696
368
1,159, 760
2,161,963
(675)
(12,264)
(281,696)
132
12,540
(281,963)
(1,960,361) (330,361)
1,493,930
3,309
60,236
15,223
1,572,698
(6,070)
3,309
20,236
(24,777)
(7,302)
(387,663) (337,663)
1,000,000
1,000,000
612,337
267,416
(337,663)
$ 267,416 $ 1,217,416 $ 879,753 $ (337,663)
See the accompanying independent auditors' report 116
COUNTY OF WELD
STATE OF COLORADO
Phone Service Fund
Schedule of Revenues, Expenses and
Changes in Net Assets - Budget and Actual
For the fiscal year ended December 31, 2009
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Personnel services
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating Income (Loss)
Nonoperating revenues (expenses):
Gain (loss) on disposition of assets
Total nonoperating revenues (expenses)
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
Actual
Variance
$ 1,130,705 $ 1,130,705 $ 1,172,535 $ 41,830
158,837
14,500
762,178
143,100
52,090
1,130,705
158,837
14,500
762,178
143,100
52,090
167,766
33,369
723,840
209,525
52,090
1,130,705 1,186,590
(14,055)
(1,923)
(1,923)
(15,978)
1,605,884 1,605,884 1,605,884
(8,929)
(18,869)
38,338
(66,425)
(55,885)
(14,055)
(1,923)
(1,923)
(15,978)
$ 1,605,884 $ 1,605,884 $ 1,589,906 $ (15,978)
See the accompanying independent auditors' report 117
COLORADO
STATISTICAL
SECTION
rii& (ts,i,
Willie
COLORADO
STATISTICAL SECTION
(unaudited)
This part of the Weld County Government's comprehensive financial report presents
detailed information as a context for understanding what the information in the financial
statements, note disclosures, and required supplementary information says about the
government's overall financial health.
Contents Page
Financial Trends
These schedules contain trend information to help the reader understand
how the government's financial performance and well-being have changed
over time.
Revenue Capacity
These schedules contain information to help the reader assess the
government's most significant local revenue source, the property tax.
Debt Capacity
Weld County is without bonded debt and, accordingly, the following
statistical tables are not presented: Ratios of Outstanding Debt by Type
and Ratios of General Bonded Debt Oustanding.
Demogranphic and Economic Information
These schedules offer demographic and economic indicators to help the
reader understand the environment within which the government's
financial activities take place.
Operating Information
These schedules contain service and infrastructure data to help the
reader understand how the information in the government's financial
report relates to the services the government provides and the acitivities
it performs.
120
123
128
131
133
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
119
COUNTY OF WELD
STATE OF COLORADO
Net Assets by Component
Last Eight Years
(accrual basis of accounting)
Fiscal Year
Governmental activities
Invested in capital assets, net of related debt
Restricted for
Programs
Emergencies
Claims
Unrestricted
Total governmental activities net assets
Business -type activities
Invested in capital assets, net of related debt
Unrestricted
Total business -type activities net assets
Primary government
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total primary government net assets
2002
2003 2004
2005
2006
2007
2008
2009
$ 253,141,316 $ 247,764,877 $ 238,640,911 $ 231,271,356 $ 233,626,280 $ 249,237,323 $ 253,009,697 $ 256,826,307
3,307,949
3,025,505
1,663,948
27,713,273
3,169,309
3,025,505
1,748,948
26,511,213
4,199,374
3,500,000
1,748,949
30,759,296
4,695,690
4,000,000
1,748,950
39,782,093
3,953,450
4,000,000
1,748,951
48,545,826
3,988,022
5,000,000
1,748,951
40,122,962
4,033,041
5,000,000
1,270,613
37,397,773
4,524,110
6,000,000
2,270,613
40,819,002
L288.85.1991 $ 282,219,852 $ 278..8,48,530 $ 28.1.498.089 $ 291.871507 $ 000.0.97,25$ $ 000.71.1,124 $._0.10.440.032
$ 941,049 $ 834,285 $
(86,0861 (266,736)
$ 854.963 $
$ 254,082,365
7,997,402
27,627,187
$ 289,706,954
864,425 $ 809,643 $ 852,705 $ 987,445 $ 1,076,125 $ 1,011,224
(4,761) 1,508,322 2,118,077 2,191,453 2,776,179 2,478,408
567,549 $ 859,664 $ 2,317,965 $ 2,970,782 $ 3,178,898 $ 3,852,304 $ 3,489,632
$ 248,599,162
7,943,762
26,244,477
$ 282,787,401
$ 239,505,336
9,448,323
30,754,535
$ 279,708,194
$ 232,080,999
10,444,640
41,290,415
$ 283,816,054
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only eight years of
government -wide financial data is presented.
$ 234,478,985
9,702,401
50,663,903
$ 294,845,289
$ 250,224,768
10,736,973
42,314,415
L303,276,156
$ 254,085,822
10,303,654
40,173,952
$ 304,563,428
$ 257,837,531
12,794,723
43,297 410
$ 313,929,664
120
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Assets
Last Eight Years
(accrual basis of accounting)
Fiscal Year
2002 2003 2004 2005 2006 2007 2008 2009
Expenses
Governmental activities:
General government
Public safety
Streets and highways
Health and welfare
Culture and recreation
Economic assistance
Interest on long-term debt
Total governmental activities expenses
Business -type activities:
Paramedic service
Total primary government expenses
Program Revenues
Governmental activities:
Charges for services:
General government
Public Safety
Streets and highways
Health and welfare
Culture and recreation
Economic assistance
Operating grants and contributions
Capital grants and contributions
Total governmental activities program revenues
Business -type activities:
Paramedic service
Total primary government revenues
Net (Expenses)/Revenue
Governmental activities
Business -type activities
Total primary government net
$ 19,978,184 $ 23,618,753 $ 21,174,906 $ 23,047,725 $ 26,641,373 $ 35,301,327 $ 31,019,065 $ 31,738,352
24,079,553 27,827,685 28,425,957 30,449,441 32,562,998 36,717,165 40,496,490 40,649,718
34,283,421 33,353,129 32,688,807 36,919,372 37,068,628 34,637,731 40,795,016 31,123,536
21,721,740 21,404,255 23,538,421 24,843,147 26,179,807 31,026,419 35,117,225 39,882,326
1,036,099 776,322 1,005,697 771,295 1,549,379 1,008,703 1,077,743 1,013,683
11,079,949 11,411, 322 12,646,785 13, 736, 745 11,747,943 14,403,662 14,601,330 15,546, 027
406,155 377,233 358,054 340,411 322,293 335,771
112,585,101 118,768,699 119,838,627 130,108,136 136,072,421 153,430,778 163,106,869 159,953,642
6,743,936 8,800,646 9,738,148 6,371,413 7,156,700 8,444,840 9,289,761 9,310,991
$_ 119329.037 $ 127569.345 $, 129.578,775 $ 1.36.479.549 $ 143,229, 21 $ 1.61.,875,61$ $ 172,396.630 $ 169.2tz4,633
$ 9,425,679 $ 8,677,015 $ 8,086,983 $ 9,792,423 $ 12,265,623 $ 10,043,033 $ 11,681,170 $ 8,728,521
3,894,565 5,085,767 7,609,527 5,430,422 6,378,749 4,998,285 5,814,979 5,658,339
2,021,319 2,279,939 1,157,634 3,433,713 4,023,310 3,566,774 3,518,926 3,262,996
13,664,895 11, 486, 561 12,699,858 13,664,206 14,949,936 17,504,660 19,870,091 21, 091,150
266,900 1,375 309,948 333,293 345,990 453,352 468,488 448,990
922,549 1,576,106 862,223 1,156,012 1,186,129 838,871 756,698 1,041,768
26,156,456 25,963,243 27,124,685 27,885,047 30,045,943 36,500,297 33,134,702 36,580,590
- 4,738,627 25,454 -
56,352,363 55,070,006 57,850,858 61,695,116 69,195,680 78,643,899 75,270,508 76,812,354
6,815,683 8,518,289 10,035,874 7,829,714 7,809,516 8,652,955 9,113,166 7,563,318
63,168,046 63,588,295 67,886,732 69,524,830 77,005,196 87,296,854 84,383,674 84,375,672
(56,232,738) (63,698,693) (61,987,769) (68,413,020) (66,876,741) (74,786,879) (87,836,361) (83,141,288)
71,747 (282,357) 297,726 1,458,301 652,816 208,115 (176,595) 11,747,6731
$ (56,160,991). $ 168281.050), $ 161,690,.0431 $ 166,954,719) $ 166 223.9251 $ 174578,764) $ .L88,012,956) $. 184,888,9611
General Revenues and Other Changes in Net Assets
Governmental activities:
Taxes:
Property taxes $ 45,233,546 $ 47,532,602 $ 50,785,919 $ 56,382,533 $ 62,124,792 $ 67,215,993 $ 72,735,158 $ 75,047,892
Specific Ownership 5,467,148 5,540,872 6,795,897 6,627,991 6,614,819 7,056,071 7,035,189 6,167,691
Other 2,376,581 2,492,418 3,333,336 3,733,025 5,266,786 3,546,134 5,454,324 3,472,065
Royalties 1,707,235
Miscellaneous 5,468,676
Unrestricted investment earnings 2,052,594 1,563,120 1,644,979 2,679,442 4,539,172 5,191,430 4,075,554 2,391,636
Donated capital assets 0 0 0 355,784 7,602 - -
Gain on sale of capital assets 10,030 (94,544) (2,358,185) - - -
Transfers - (1,300,000) (850,000) (1,385,000)
Total governmental activities 55,139,899 57,034,468 60,201,946 69,778,775 77,253,171 83,009,628 88,450,225 92,870,195
Business -type activities:
Paramedic service - (5,057) (5,611) - - 850,000 1,385,000
Total primary government $ 55,139,899 $ 57,029,411 $ 60,196,335 $ 69,778,775 $ 77,253,171 $ 83,009,628 $ 89,300,225 $ 94,255,195
Change in Net Assets
Governmental activities
Business -type activities
Total primary government
$ (1,092,839) $ (6,664,225) $ (1,785,823) $ 1,365,755 $ 10,376,430 $ 8,222,749 $ 613,864 $ 9,728,907
71,747 (287,414) 292,115 1,458,301 652,816 208,115 673,405 (362,673)
$ 21,021 0921 $ (6,951,639) $ 11,493,7081 $ 2,824,056 $ 11,029,246 $ 8,430,864 $ 1,287,269 $ 9,366,234
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only eight years of government -wide data is presented.
121
COUNTY OF WELD
STATE OF COLORADO
Fund Balances of Governmental Funds
Last Eight Years
(modified accrual basis of accounting)
Fiscal Year
General Fund
Reserved
Unreserved
Total general fund
All other Governmental Funds
Reserved
Unreserved, reported in:
Special revenue funds
Capital projects funds
Debt service funds
Total for all governmental kinds
Note: The County implemented
presented.
2002
2003 2004
2005
2006
2007
2008
2009
$ 3,249,297 $ 1,342,369 $ 1,516,298 $ 1,486,188 $ 946,073 $ 1,081,217 $ 1,161,271 $ 846,808
2,921,157 3,727,307 6,699,941 7,648,920 10,630,592 7,007,528 10,645,617 9,960,565
$ 6.170.454 $ 5.069.676 $ 8.216.239 $ 9.135.108 $ 11.576.665 $ 8.088.745 $ 11.806.888 $ 10.807.373
$ 6,984,908 $ 2,666,118 $ 4,139,435 $ 8,834,511 $ 19,019,004 $ 12,074,704 $ 12,631,501 $ 9,861,718
19,512,384
294,482
22,023,076
2,830,614
25,360,820
697,779
26,155,751 25,281,236 27,791,990
3,511,495 0 272,790
25,032,274
(2,064,635)
32,475,341
1,617,052
$ 32.962.228 $ 32.589.484 $ 38.414.273 $ 47.636.865 $ 55.876.905 $ 48.228.229 $ 47.406.028 $ 54.761.484
GASB Statement No. 34 in fiscal year 2002, therefore, only eight years of government -wide data is
122
COUNTY OF WELD
STATE OF COLORADO
Changes in Fund Balances, Governmental Funds
Last Eight Years
(modified accrual basis of accounting)
Fiscal Year
Revenues
Taxes
Licenses and permits
Intergovernmental
Fines and forfeitures
Charges for Services
Miscellaneous
Fees
Total Revenues
Expenditures
Current:
General government
Public Safety
Public Works
Public health and welfare
Culture and recreation
Economic assistance
Capital outlay
Debt service
Interest
Principal
Total Expenditures
Excess of revenues over (under) expenditures
Other Financing Sources (Uses)
Transfers -in
Transfers -out
Total Other Financing Sources (Uses)
Net changes in Fund Balance
Debt Service as a percentage of noncapital expenditures
2002
$ 50,771,861
2,205,420
40,511,590
159,246
5,746,678
5,536,066
6,638,831
2003 2004
$ 53,080,974
1,760,546
38,299,161
75,488
6,887,469
4,739,386
7,387,204
$ 57,698,294
1,834,849
40,652,682
69,538
7,345,819
5,329,931
7,454,831
111,569,692 112,230,228 120,385,944
2005
$ 63,261,095
2,119,419
41,110,202
204,530
8,618,819
7,582,510
8,175,907
131,072 482
2006
2007
2008
2009
$ 69,178,181 $ 74,627,631 $ 80,182,212 $ 84,642,477
3,188,354 2,129,731 2,089, 925 1,467,282
44,982,577 53,886,023 52,887,281 61,100,082
135,908 416,668 295,246 323,411
8,232,213 7,800,131 8,898,865 8,939,683
13,377,598 9,567,707 12,523,751 7,132,908
8,602,079 8,061,587 7,845,617 7,546,475
147,696,910 156,489,478 164, 722,897 171,152,318
19,100,208 21,910,296 20,566,315 22,384,671 25,366,204 32,605,930 29,061,657 28,311,209
23,435,572 27,212,371 27.475,345 29,834,629 31,881,427 35,945,956 38,564,419 38,668,759
23,465,325 21,407,821 22,734,695 25,490,667 26,315,156 31,798,757 36,643,514 29,595,637
21,327,335 20,896,282 23,046,109 24,284,817 25,993,962 30,940,641 34,585,229 39,287,986
1,046,374 764,449 1,007,208 775,903 1,550,929 1,011,311 1,077,592 1,014,422
10,892,932 11,365,585 12,450,198 13, 572,861 11,746,242 14,449,197 14,459,482 14,622,541
9,590,948 8,668,934 6,923,230 5,165,931 14,980,649 17,050,592 9,883,207 9,911,307
406,155 377,233 358,054 340,411 322,293 335,771
109,264,849 112,602,971 114,561,154
2,304,843
(372,743) 5,824,790
5,144,682 2,482,745 4,299,153
5,144,682 2,482,745 4,299,153
121,849,890
9,222, 592
7,436,144
7,436,144
$ 2304-84a $ 1372.7431 $L 5.82V,7 $ 9.222,592
0.41%
0.36%
0.33%
0.29%
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only eight years of government -wide data is
presented.
138,156,862 164,138,155 164,275,100 161,411,861
9,540,048 (7,648,6771 447,797 9,740,457
11,309,847
12,609,847
(1,300,000)
4,340,010 4,914,085 7,583,632
4,340,010 6,184,085 9,968,632
(1,270,000) (2,385,000)
$ 8-240.048 $ (7,648.6771 $ 1822.203) $ 7,355.-457
0.26%
0.23%
0.00%
0.00%
123
COUNTY OF WELD
STATE OF COLORADO
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Years
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COUNTY OF WELD
STATE OF COLORADO
Property Tax Rates Direct and Overlapping Governments
Last Ten Years
Levy
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
General
Government Road & Bridge Public Welfare Contingent Capital Insurance
Tota Direct
County
15.539
15.947
13.164
14.044
15.791
13.909
12.321
11.487
11.736
11.842
Levy
Year
1.298
1.264
2.259
2.133
2.010
2.002
1.847
1.668
1.647
1.613
1.938
1.885
1.280
1.512
2.013
1.772
1.551
1.333
1.293
1.266
1.379
1.194
0.701
0.523
0.535
0.360
0.619
0.448
1.547
1.435
3.608
1.439
0.916
1.488
1.544
1.399
1.344
1.754
0.337
0.313
0.248
0.227
0.221
0.251
0.277
0.298
0.336
0.329
Overlapping Rates
Direct City of School Aims
County Greeley District 6 College
2000 22.038 10.635 47.315 6.343
2001 22.038 11.274 46.974 6.351
2002 20.559 11.274 50.320 6.620
2003 20.056 11.274 47.981 6.316
2004 21.474 11.274 46.453 6.322
2005 19.957 11.274 44.711 6.328
2006 17.900 11.274 41.129 6.357
2007 16.804 11.274 40.760 6.330
2008 16.804 11.274 36.922 6.308
2009 16.804 11.274 36.600 6.323
The basis for the property tax rates is per $1,000 assessed valuation.
Source: Office of the Weld County Assessor.
Weld
Library
3.249
3.249
3.249
3.249
3.249
3.249
3.281
3.261
3.253
3.260
22.038
22.038
20.559
20.056
21.474
19.957
17.900
16.804
16.804
16.804
125
COUNTY OF WELD
STATE OF COLORADO
Principal Property Taxpayers
Current Year and Nine Years Ago
Noble Energy Inc
Kerr-McGee Oil & Gas Onshore LP
Petroleum Development Corp
Encana Oil & Gas (USA) Inc
Petro -Canada Resources (USA) INC
Public Service Company of Colorado (XCEL)
Merit Energy
Rocky Mountain Energy Center
Kerr McGee Gathering LLC
Colorado Interstate Gas Co
HS Resources Inc
Patina Oil & Gas Corporation
Eastman Kodak Company
North American Resources Company
US West Communications Incorporated
Thermo Cogeneration
Duke Energy Field Services Inc
Prima Oil & Gas Company
Southwestern Productions Corp
Source:
Weld County Assessor
2009
Taxable
Assessed
Value
$ 1,135,221,000
724,446,840
224, 279, 550
201,129,110
190,529,130
93,494,100
75, 753, 930
61, 708, 400
53,454,000
49, 326, 700
$ 2,809,342,760
Percent
Of Total County
Taxable
Assessed
Rank Value
1
2
3
4
5
6
7
8
9
10
19.67%
12.55%
3.89%
3.49%
3.30%
1.62%
1.31%
1.07%
0.93%
0.85%
48.68%
2000
Taxable
Assessed
Value Rank
$ 74,232,600 3
137,450,560
84,274,800
65,131,980
22,423,130
19,794,800
19,748,600
18,272,620
14,666,580
12,419,230
$ 468,414,900
1
2
4
5
6
7
8
9
10
Percent
Of Total County
Taxable
Assessed
Value
4.21%
7.80%
4.78%
3.70%
1.27%
1.12%
1.12%
1.04%
0.83%
0.70%
26.57%
COUNTY OF WELD
STATE OF COLORADO
Property Tax Levies and Collections
Last Ten Years
Levy Collect
Year Year
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Taxes Levied
for the
Fiscal Year (1)
36,053,130
38,846,297
45,683,851
48,691,835
53,414,937
59,739,651
64,714,321
70,643,162
75,088,043
76,724,097
Collected within the
Ficsal Year of the Levy
Tax Percent
Amount (2) of Levy
35,788,843
38,275,747
45,566,346
48,410,396
53,094,454
59,395,927
64,580,198
70,575,408
74,877,199
75,903, 359
99.267%
98.531%
99.743%
99.422%
99.400%
99.425%
99.793%
99.904%
99.719%
98.930%
Collections Total Collections to Date
in Subsequent Tax Percent
Years (3) Amount (3) of Levy
92,122
53,693
53,243
100,073
(230,263)
(48,105)
57,457
326,657
166,958
35,880,965
38,329,440
45, 619, 589
48,510,469
52,864,191
59,347,822
64,637,655
70,902,065
75,044,157
75,903,359
Source:
1) Office of the Weld County Assessor
2) YTD Treasurer's Tax Distribution
3) YTD Treasurer's Tax Distribution 2001 forward. Negative values reflect subsequent rebates and adjustments.
99.522%
98.669%
99.859%
99.628%
98.969%
99.344%
99.882%
100.366%
99.942%
98.930%
127
COUNTY OF WELD
STATE OF COLORADO
Direct and Overlapping Governmental Activities Debt
December 31, 2009
Jurisdiction
Cities & Towns
Schools
Special Districts
Total Overlapping
Net General
Obligation
Bonded Debt
Outstanding
$ 94,231,061
946,848,227
95,154, 562
��13Sz,233,B5Q
Percentage
Applicable to
Government (1)
87.81%
51.33%
81.50%
Source: Debt outstanding provided by each governmental unit.
Amount
Applicable to
Government
$ 82,742,461
486,037,722
77,546,426
$ 64_6+326+60 a
Note:
(1) Overlapping governments are those that coincide, at least in part, with the
geographic boundaries of the county. This schedule estimates the portion of the
outstanding debt of those overlapping governments that is borne by residents and
businesses of Weld County. This process recognizes that, when considering
the county's ability to issue and repay long-term debt, the entire debt burden borne
by the residents and businesses should be taken into account. However, this does
not imply that every taxpayer is a resident, and therefore responsible for repaying
the debt, of each overlapping government.
128
C
O
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a)
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Last Ten Years
Legal Debt Margin Calculation for Fiscal Year 2009
O CO
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O
r
N-
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16
H3
Assessed Value, 2009
Debt Limit 3 Percent of Assessed Value
O
O O
O
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Y a)
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173,123,816
fA
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$173,123,816
M
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to
M
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$134,053,874
to
ti
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to
to
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1O
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69.
co
co
co
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co
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a)
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Total net debt applicable to limit
173.123.816
136.974.703
34.053.874
126.118.475
108.459.755
89.802.552
74.622.712
72.833.818
66.662.558
52.880.883
Legal debt margin
0
0
O
O
0
O
O
O
0
0
O
O
O
0
0
O
O
O
0
O
O
O
0
0
O
O
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O
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0
0
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Total net debt applicable to the limit
as a percentage of debt limit
15 co
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129
COUNTY OF WELD
STATE OF COLORADO
Private Purpose Revenue Bonds
December 31, 2009
INDUSTRIAL REVENUE BONDS:
ISSUER
Waste Service Corporation
Waste Service Corporation
Centennial Area
Health Education Central
GSSLB Association
Nursing Home
Greeley Center for
Independence, Inc
BSC Hudson
TYPE OF
FACILITY
Landfill
Landfill
Office
Nursing Home
ISSUE
AMOUNT DATE
$860,000 2/91
2,500,000 2/91
388,000 5/99
2,020,000 10/98
Therapeutic 1,650,000 9/03
Center
Manufacturing 5,715,000 10/05
North Range Behavioral Health Office
4,500,000 5/07
TOTAL PRIVATE PURPOSE REVENUE BONDS
DEBT
OUTSTANDING
BEGINNING OF YEAR
$170,000
700,000
265,963
1,195,000
1,339,533
5,715,000
3, 355, 070
$12.740.566
ISSUED RETIRED
$0 $80,000
0 215,000
0 17,986
0 50,000
0 67,488
0 0
0 108,600
0 $539.074
REVENUE BOND
OUSTANDING
END OF YEAR
$90,000
485,000
247,977
1,145,000
1,272,045
5,715,000
3,246,470
$12.201.492
130
COUNTY OF WELD
STATE OF COLORADO
Demographic and Economic Statistics
Last Ten Years
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Population
180,936
193,929
202,329
207,120
217,652
221,957
229,377
236,908
244,515
251,220
Total
Personal Income Per
($ billion) Capita Income
4.22
4.36
5.02
5.14
5.38
5.79
5.84
6.23
6.66
7.38
23,016
22,469
24,571
24,279
25,274
25,968
25,495
26,280
27,238
27,788
Unemployment
Rate
2.70%
4.00%
6.10%
6.70%
5.40%
5.00%
3.80%
4.63%
6.30%
8.16%
Source: Upstate Colorado in cooperation with University of Northern Colorado
and the State of Colorado demographer.
131
COUNTY OF WELD
STATE OF COLORADO
Principal Employers
Current Year and Nine Years Ago
JBS Swift Beef Company
Northern Colorado Medical Center
School District 6
US Government
Weld County Government
State Farm Insurance Companies
State of Colorado (includes UNC )
City of Greeley
Wal-Mart Stores, Inc.
Aims Community College
Eastman Kodak Company
Aims Community College
StarTek, Inc
Total Principal Employers
Other Employers
Total County Employment
2009
Percent
Of Total County
Employees Rank Employment
4192 1 3.60%
2889 2 2.48%
2189 3 1.88%
1400 4 1.20%
1383 5 1.19%
1350 6 1.16%
1192 7 1.02%
1130 8 0.97%
1015 9 0.87%
874 10 0.75%
17,614
98,992
116,606
Source: Upstate Colorado
Total Employment from Colorado Department of Labor & Employment
15.11%
84.89%
100.00%
2000
Employees Rank
4000
1616
2211
798
1116
1277
2062
1
5
2
10
9
7
3
1434 6
1800 4
1200 8
17,514
66,962
84,476
Percent
Of Total County
Employment
4.74%
1.91%
2.62%
0.94%
1.32%
1.51%
2.44%
1.70%
2.13%
1.42%
20.73%
79.27%
100.00%
COUNTY OF WELD
STATE OF COLORADO
Full-time Equivalent County Government Employees by Function/Program
Last Ten Years
ti
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Economic assistance
Total General Government
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Total primary government
Source: Weld County Human Resources
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(2) The demand for welfare and public health care has increased more rapidly with the economic downturn.
133
COUNTY OF WELD
STATE OF COLORADO
Last Ten Years
O
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Average secure jail population
(0
r
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Building Permits
Valuation (thousands)
Public works:
N
N
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ti
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Miles of road graveled
Snow removal lane miles
0
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N O
N
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Tons of asphalt laid
Tons of gravel crushed
Health and welfare:
O O
O
(0 U)
r r
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ti
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8
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Social Services Caseload
r r
N-
ti
N O
N- N
r r
Patient contacts
Immunizations
Culture and recreation:
Visitors -Missile Park
co
O
O
County Fair Exhibitors
Economic assistance:
N
(D M
U)
DI LI)
CO N
CONtO
tD
O N
N tO
(O
DI (0 tO
O N
N (O r r
(D r
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Headstart clients
Migrant Headstart clients
0
5
U
(6
a)
O.
(n
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C
N
CO
Paramedic Services
N
O
co
O
co
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N
CO
N
M
W
V
co
N
N:
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ti
N-
N -
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N-
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Patients transported
Source: Various Weld County Department records.
a)
z
(1) Beginning in 1999 the number of registered voters reflects active voters.
(2) Even years represent general elections, odd years coordinated elections.
134
COUNTY OF WELD
STATE OF COLORADO
Capital Asset Statistics by Function/Program
Last Ten Years
Fiscal Year
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Function/Program
General government:
Building Square Footage
Court rooms
Information Systems Connections
Public safety:
Jail capacity (beds)
Patrol cars
Radios and cell phones
Public works:
Miles of Roads
Paved
Unpaved
Un-maintained
Grader sheds
Motor graders
Health and welfare:
Alternative fuel vehicles
Economic assistance:
Headstart sites
Business -type activities:
Paramedic Services
Ambulances
585,045 604,100 620,310 684,551 684,551 719,723 725,723 854,081 860,399
9 9 9 9 10 12 16 16 17 22
959 997 1,240 1,292 1,292 1,292 1,320 1,320
454 454 454 454 386 386 386 386 760 760
35 36 44 43 42 46 55 55 55 62
828 857 947 939 1,140 1,229 1,270 1,359 1,179
665 665 670 679 671 681 675 670 684 674
2,490 2,484 2,457 2,438 2,425 2,394 2,387 2,370 2,352 2,331
255 254 253 250 252 512 327 492 490 493
18 18 18 18 18 18 18 18 18 18
27 27 30 29 30 30 30 30 30 30
4 4 4 5 6 4 4 4 4 5
12 12 12 11 11 11 11 11 11 0
11 11 10 10 10 10 10 11 11 11
Source: Weld County Department records and Fixed Asset Inventory
COUNTY OF WELD
STATE OF COLORADO
Insurance in Force
December 31, 2009
Name of Company
Safety National
Casualty Company
Lexington
(Colorado Counties
Casualty & Property
Pool)
Policy
Number
Policy Period
Begins Expires Details of Coverage
SP2T94CO 12/31/08 12/31/09 Excess Worker's
Compensation
5467375
Insurance Company of the 6907901
State of Pennsylvania
01/01/09 01/01/10
1/1/2009 1/1/2010
Property damage,
automobile liabilities,
general liability, public
officials.
Excess Casualty and
Boiler & Machinery
Liability Limits
Employer's Liability
$1,000,000/Accident.
Worker's Compensation
Statutory Limits with
County retaining first
$350,000 each claim.
Property: $100,000,000/
occupancy/$500 deductible.
All Liability: $250,000/person;
$600,000/claim.
Excess Liability: (Federal and
Out -of -State Only)
$3,000,000/liability. Excess
$250,000: $600,000/Claim.
Excess $400,000
Crime: $150,000/Loss
$500 Deductible
Property Claim
County retaining first
$125,000 each claim
Annual
Premium
$92,123
$253,838
136
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Audit
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TOTAL PASSED THROUGH COLORADO DEPT OF TRANSPORTATION
PASSED THROUGH THE STATE OF COLORADO DEPARTMENT OF LABOR AND EMPLOYMENT
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Grand Total
141
COLORADO
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