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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 69
Modified Approach for Infrastructure Assets 70
i
Required Supplementary Information Other Than MD&A:
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Major Funds:
General Fund 71
Public Works Fund 76
Social Services Fund 78
Human Services Fund 80
Supplemental Information:
Combining Statement of Non -major Governmental Funds:
Explanation of Funds 83
Combining Balance Sheet 88
Combining Statement of Revenues, Expenditures and Changes in Fund Balance 90
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Non -major Governmental Funds:
Special Revenue Funds:
Capital Expenditures Fund 92
Conservation Trust Fund 93
Contingent Fund 94
Emergency Fund 95
Public Health Fund 96
Solid Waste Fund 97
Bebee Draw Fund 98
Pioneer Community Law Enforcement Fund 99
Component Units:
Housing Authority 100
E-911 Authority Fund 101
Local Highway Finance Report 102
Combining Statements of Internal Service Funds:
Combining Statement of Net Assets - Internal Service Funds 104
Combining Statement of Revenues, Expenses and Changes in
Net Assets - Internal Service Funds 106
Combining Statement of Cash Flows - Internal Service Funds 108
Combining Statement of Fiduciary Funds:
Combining Statement of Changes in Assets and Liabilities - Fiduciary Funds 110
11
Schedule of Revenues, Expenses and Changes in Fund Equity -Actual and Budget
Enterprise Fund and Internal Service Funds:
Enterprise Fund:
Paramedic Services 1 1 1
Internal Service Funds:
Motor Vehicle Fund 112
Health Insurance Fund 113
Insurance Fund 114
Phone Service Fund 115
STATISTICAL SECTION
Net Assets by Componet 118
Changes in Net Assets 119
Fund Balances of Governmental Funds 121
Changes in Fund Balances, Governmental Funds 122
Assessed and Estimated Actual Value of Property 123
Property Tax Levies - Direct and Overlapping Governments 124
Principal Taxpayers 125
Property Tax Levies and Collections 126
Direct and Overlapping Governmental Activities Debt 127
Legal Debt Margin Information 128
Private Purpose Revenue Bonds 129
Demographic and Economic Statistics 130
Principal Employers 131
Full-time Equivalent Employees by Function/Program 132
Operating Indicators by Function/Program 133
Capital Asset by Function/Program 134
Insurance in Force 135
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 142
Report on Compliance with Requirements Applicable to Each Major Program and
Internal Control over Compliance in Accordance with OMB Circular A-133 144
Schedule of Findings and Questioned Costs 147
Summary Schedule of Prior Audit Findings 152
Notes to Schedule of Expenditures of Federal Awards 154
iii
COLORADO
COLORADO
June 8, 2009
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, 2008, 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, 2008 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.
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
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Honorable Board of Commissioners
Weld County Housing Authority, Weld County Retirement Plan, Beebe Draw Law
Enforcement Authority, Pioneer Community 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, 2008, 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 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.
Honorable Board of Commissioners
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 2008 was approximately 233,400.
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.
Health, employment, and social services.
4 Planning and zoning.
4 Construction, reconstruction and maintenance of streets, highways, and bridges.
4 Parks and recreation.
Property valuation, tax collection and distribution, and vehicle licensing.
4 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.
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.
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Honorable Board of Commissioners
County Employment. Weld County government employS1258 regular staff (those receiving
standard benefits) and 205 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 2008, 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 2008:
Opened Phase III of the North Jail.
Implemented an In -Custody Alternative Placement Program (ICAPP) for jail inmates.
Increased traffic enforcement in Weld County to reduce traffic fatalities.
Coped with the continued growth and development in the County.
Requested bids for the Information Services contract and selected the successful
vendor.
Implemented strategic transportation system to accommodate growth in County's
urbanized areas and use of the transportation impact fees.
Implemented a new corspsrtem for the Assessor.
Enhanced the back-up Communication Center.
Completed the update of the Weld County Comprehensive Plan.
Continued implementation of e -government strategy.
Constructed an additional Social Services building.
Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
Enhanced and expanded services in the Southeast Weld Service Center.
Conducted a Presidential Election using vote centers.
Honorable Board of Commissioners
Constructed Weld County Road 2 with Adams County.
Established a Critical Response Team in the Sheriffs Office.
Provided a School Resource Officer (SRO) for Weld Central High School.
Implemented the second year of the five-year Support Healthy Marriages Grant.
FACTORS AFFECTING FINANCIAL CONDITION
Economic Conditions and Outlook.
The impacts of the credit crisis, housing bubble,and recession will most likely adversely impact
Weld County and all other units of government in the U.S. The consensus among most economists
is that the impacts from the credit crisis, housing bubble, and recession are not going to be short
term, but will probably take four to five years at a minimum to stabilize the financial and economic
system. This will translate into Weld County having four to five years of difficult financial planning
and budgeting to meet the needs of Weld County citizens.
While Colorado's economy has remained strong relative to the national economy, there are a
number of indicators that suggest Colorado's economy has slipped into a recession. Though many
of Colorado's economic indicators have been revised to reflect the anticipated severity of current
declines in economic activity, Colorado is s.4kperiencing better employment growth, lower
unemployment rates, and positive growth in personal income when compared to national
benchmarks. Colorado revenues continue to demonstrate some resilience from the current
financial crisis but the tightening of the national credit markets continues to threaten Colorado
business owners' ability to secure the financing necessary to continue operations as usual. If the
credit markets remain tight for an extended period, this forecast anticipates Colorado businesses,
and the economy in general, will suffer the ill-effects of corporate bankruptcies.
For 2008, the unemployment rate in Colorado is averaged 5.0 percent. However, in the near term,
it is estimated that Colorado will experience its worst unemployment rates in recent years primarily
because of a stagnating construction industry and dramatic reduction in retail sales. This
stagnation has been brought on by the collapse of the housing bubble and the resultant decrease in
demand for new homes. On the positive side, industries such as health care and education are
expected to see increases in overall employment due to an expanding health care industry and
population growth, respectively.
In concert with the increasing unemployment rate and in spite of the employment growth of some
industry sectors, employment growth in Colorado slowed considerably during the second half of
2008. In 2009, employment is expected to decline by 0.7% as the Colorado economy sheds jobs
due to decreased demand for housing and non -essential goods and services. This decline is not
expected to be nearly as great as the percent of job losses in the national economy, as the state
economy is anticipated to weather the fallout of the financial crisis better than the rest of the
country.
Due to substantial increases in energy costs in 2008 the Denver -Boulder -Greeley Consumer Price
Index for 2008 was 3.897 percent. With the drop in fuel costs and the slowing demand for goods,
the Colorado State Planning and Budget Office is projecting a much lower 2.2 percent CPI for 2009.
Honorable Board of Commissioners
Personal income grew 4.0 percent in 2008, and is projected to be 2.7 percent in 2009. Colorado
salary and wage income increased 2.9 percent in 2008 and is forecasted to only grow 1.9 percent in
2009 which is a significant downward revision from late 2008.
In 2007, net in -migration to Colorado was 51,800, which contributed to total population growth of
2.0 percent. The State Demographer's forecast projects net in -migration to grow to 60,300 in 2008
and 61,000 in 2009.
Based on credit markets continuing to remain frozen by historical lending standards, the state's
forecast projects residential housing permits to decline 33.1 percent and 11.7 percent in 2008 and
2009, respectively. Nonresidential permits are also now beginning to show the effects of corporate
profit reductions and credit market woes, and are projected to decrease 7.7 percent in 2008,and 2.5
percent in 2009 before returning to positive growth in 2010.
With the economic conditions being faced in 2009, and probably for the next four or five years,
Weld county managers are going to have to continue to find ways to reduce costs and increase
program productivity. Weld County government's trend of being more creative and innovative to
make better use of resources - human, financial, and technological - must continue. It is only
through improved practices and approaches that services are maintained and public confidence in
government is enhanced. Weld County's budget strategy for the next five years must continue to
use the proven methodologies which have allowed the county to successfully deal with past
budgets. Looking at future strategic approaches must continue as Weld County is challenged by
these new economic times.
For the Future. There are a number of future issues and concerns that will be impacting Weld
County's budget in 2009, and in subsequent fiscal years. With the national economy in a recession,
the housing crisis, and credit crunch there are many uncertainties as we face 2009. Besides the
domestic economic issues the international issues, such as the Iraqi War, have impacted the
federal budget and the deficit. The federal government is not increasing, and is even reducing,
funding in the domestic program areas. Even with a new administration in 2009 this situation is not
likely to change any time in the near future. Therefore, the solutions to the state and federal budget
problems, as they impact Weld County, will have to be solved locally. The county will be receiving
some federal stimulus dollars for energy conservation, one road project, and human services
funding.
Weld County has much going for it. A study released by Forbes Magazine in March, 2008, ranked
Weld County the #1 area in the country for five-year income growth. In addition, because of the
number of new jobs coming to Weld county in recent years, Weld County earned a spot on the
Forbes' Best Places for business and Careers List. Weld County is ranked 57th out of the top 200
best areas in the nation. The list was compiled by comparing costs of doing business, job growth,
and workers' education, cost of living and other related factors. Despite the housing slowdown,
Weld County is ranked the 52nd fastest growing county in the nation according to the U.S. Census
Bureau, with a 3.6 percent growth rate for 2006-2007.
The growth of Weld County is a two -edge sword in many ways. The growth has many positive
economic impacts, but the continued growth of the county will remain an issue in the coming years,
especially as it relates to the ever-increasingiemand for services. The issue of growth raises
problems of land use allocation, management of the growth, transportation system development,
and overall service capacity. As Weld County grows and changes there are issues of quality of life,
Honorable Board of Commissioners
and the economic development to support the quality of life that the citizens desire.
Intergovernmental cooperation and coordination is critical as Weld county changes. In the area of
criminal justice and human services there ar a number of emerging troubled areas. The jail
population growth is outstripping the county's ability to keep up with the increases. Caseload for
the Sheriff, District Attorney, and courts I growing at rates that stress the capacity of these areas.
Health and Human Service issues continue to present many demands with the new demographics
of the county. Leadership from the County Commissioners, other elected officials and department
heads is critical to develop creative solutions to allocate the limited resources of the county to
maximize delivery of services to the citizens of Weld County.
Pension Trust Fund Operations. Weld County sponsors a defined benefit pension plan for its
employees. Each year, an independent actuary engaged by the pension plan calculates the
amount of the annual contribution that Weld County must make to the pension plan to ensure that
the plan will be able to fully meet its obligations to retired employees on a timely basis. As a matter
of policy Weld County fully funds each year's annual required contribution to the pension plan as
determined by the actuary. As a result of Weld County's conservative funding policy, Weld County
has succeeded as of December 31, 2008, in funding 75.4 percent of the present value of the
projected benefits earned by employees. The remaining unfunded amount is being systematically
funded over 30 years as part of the annual required contribution calculated by the actuary.
Cash Management. Cash temporarily idle during the year was invested in time deposits ranging
up to 180 days to maturity. Interest earned on investments of cash held by the County Treasurer
was recorded as revenue in the General Fund, with the exception of interest attributed to the other
specified funds, and the interest earned on certain deposits held for other taxing authorities. The
amount of interest earned was $4,321,852 in 2008.
The County's investment policy is to minimize credit and market risks while maintaining a
competitive yield on its portfolio. Accordingly, deposits are either insured by federal depository
insurance or collateralized. All collateral on deposits was held either by the County, its agent or a
financial institution's trust department in the County's name. All investments held by the County
during the year and at December 31, 2008, are classified in the category of lowest credit risk as
defined by the Governmental Accounting Standards Board, except for mutual funds and investment
pools which cannot be categorized.
Risk Management. During 2008 Weld County continued to be a member of Colorado Counties
Casualty and Property Pool. The pool offers full safety and risk management programs to minimize
losses, together with 57 other Colorado counties. Effective January 1, 1992, Weld County became
self -insured under a State permit for workers' compensation.
AWARDS AND ACKNOWLEDGEMENTS
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the County for its Comprehensive Annual Financial Report for
the fiscal year ended December 31, 2007. This was the twenty-seventh year that the County has
received this prestigious award. In order to be awarded a Certificate of Achievement, the County
published an easily readable and efficiently organized Comprehensive Annual Financial Report.
This report satisfied both generally accepted accounting principles and applicable legal
requirements.
Honorable Board of Commissioners
A Certificate of Achievement is valid for a period of one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement
Program's requirements and we are submitting it to the GFOA to determine its eligibility for another
certificate.
In addition, the County also received the GFOA's Award for Distinguished Budget Presentation for
its 2008 annual appropriated budget for the twenty-third consecutive year. In order to qualify for the
Distinguished Budget Presentation Award, the County's budget document was judged to be
proficient in several categories including policy documentation, financial planning, and organization.
Financial reports are valuable in that they provide a permanent historical record of a governmental
agency's operation to the management and the general public. It is our belief that this is a
comprehensive report of the 2008 financial transactions under our control and that the following
statements present an accurate, informative record of the financial activities of the County of Weld
and its financial condition at December 31, 2008. The preparation of this report could not be
accomplished without the efficient and dedicated services of the entire staff of the
Accounting/Finance Department. I should like to express my appreciation to all members of the
department who assisted and contributed to its preparation. I would also like to thank the members
of the Board of County Commissioners for their interest and support in planning and conducting
financial operations of the County in a responsible and progressive manner.
Res ectfully submitted,
00/401Widet-
Donald D. Warden, Director
Finance and Administration
8
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
County of Weld
Colorado
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2007
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
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COUNTY OF WELD
STATE OF COLORADO
PRINCIPAL COUNTY OFFICIALS
December 31, 2008
Board of County Commissioners
Douglas Rademacher
Robert Masden
Bill Garcia
David Long
William Jerke
County Clerk and Recorder
Steve Moreno
County Assessor
Christopher M. Woodruff
County Sheriff
John Cooke
Director of Finance & Administration
Donald D. Warden
Controller
Barbara Connolly
Treasurer
John R. Lefebvre, Jr.
11
COLORADO
FINANCIAL
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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, 2008. 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 $304.6 million at the end of 2008. Of this amount,
$40.2 million may be used to meet the government's ongoing obligations to citizens and
creditors. The remaining $264.4 million is invested in capital assets or restricted by law.
The County's General Fund balance was $11.8 million as of December 31, 2008. Of this
amount, $1.16 million is reserved for emergencies, advances, and encumbrances.
The 2008 General Fund balance is $3.7 million higher than in the previous year. The total fund
balance is 16% of 2008 General Fund operating ex penditures plus net operating transfers. The
County Commissioners' goal is to keep fund balance at no less than 5%. The Board has
budgeted $49,134 in expenditures from fund balance in 2009.
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).
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
Community 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 ten 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, and Capital Expenditures 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, 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 71 to 81 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 67 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 88 through 99 and 104 through 115 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, 2008, assets exceeded liabilities by $304.6
million.
The following table provides a summary of the County's governmental and business -type net assets
for 2007 and 2008.
17
Table 1
Net Assets
(in Millions)
Governmental Activities Business -type Activities Total
2007 2008 2007 2008 2007 2008
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,
of related debt
Restricted
Unrestricted
Total net assets
$ 151.10 $ 146.83 $ 2.58 $ 3.22 $ 153.68 $ 150.05
249.24 253.01 .99 1.07 250.23 254.08
$ 400.34 $ 399.84 $ 3.57 $ 4.29 $ 403.91 $ 404.13
$ 96.46 $ 94.33 $ .39 $ A4 $ 96.85 $ 94.77
3.79 4.8 .00 .00 3.79 4.80
$ 100.25 $ 99.13 $ .39 $ .44 $ 100.64 $ 99.57
$ 249.24 $ 253.01 $ .99 $ 1.07 $ 250.23 $ 254.08
10.73 10.30 .00 .00 10.73 10.30
40.12 3740 2.19 2.78 42.31 40.18
$ 300.09 $ 300.71 $ 3.18 $ 3.85 $ 303.27 304.56
A significant portion of Weld County's net assets (13.2%) represents unrestricted net assets of
$40.18 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 (83.5%) 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 as of December 31, 2008 Weld County has no outstanding debt.
An additional $10.30 million of the County's net assets (3.3%) represents resources that are subject
to external restrictions on how they may be used. Included in this category are the TABOR
emergency reserve of $5.0 million and $1.27 million in reserves for insurance claims.
At the end of 2008 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 $1.29 million in 2008. The following table indicates the changes in net assets for
governmental and business -type activities in 2007 and 2008.
15
Table 2
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
Interest on long-term debt
Economic Assist
Paramedic services
Total expenses
Increase (decrease) in net assets
Net Assets 1/1
Net Assets 12/31
2007
2008 2007 2008 2007 2008
$ 37.40 $ 42.11 $ 8.53 $ 9.08 $ 45.93 $ 51.19
36.50 33.13 .12 0.03 36.62 33.16
4.74 0.03 0.00 0.00 4.74 0.03
67.22
10.6
5.19
72.74
7.04
8.68
0.00
0.00
0.00
0.00
0.00
0.85
67.22
10.6
5.19
72.74
7.04
9.53
$ 161.65 $ 163.73 $ 8.65 $ 9.96 $ 170.30 $ 173.68
$ 35.3 $ 31.02 $0.00 $ 0.00 $ 35.30 $ 31.02
36.72 40.50 0.00 0.00 36.72 40.5
34.64 40.79 0.00 0.00 34.64 40.79
1.01 1.08 0.00 0.00 1.01 1.08
31.02 35.12 0.00 0.00 31.02 35.12
.34 0.00 0.00 0.00 .34 0.00
14.4 14.60 0.00 0.00 14.4 14.60
0.00 0.00 8.44 9.29 8.44 9.29
$ 153.43 163.11 8.44 $ 9.29 $ 161.67 $ 172.40
8.22 .62 .21 0.67 8.43 1.29
291.87 300.09
2.97 3.18
294.84 303.27
$ 300.09 $ 300.71 $ 3.18 $ 3.85 $ 303.27 $ 304.56
Governmental Activities. Governmental activities increased Weld County's net assets by $0.62
million in 2008. Key elements of this increase are as follows:
a Total revenues were $163.73 million, up 1.3% from the prior year, primarily due to increases in
property taxes ($5.5 million) and charges for services ($4.7 million) offset by decrease in other
taxes ($3.6 million) and both capital and operating grants ($8.1 million).
Expenses totaled $163.11 million. This represents a 6.3% increase over the previous year.
Increases occurred in most categories due to normal wage and inflation costs, road projects
and costs of providing an increased volume of services to a growing citizen base.
Business -Type Activities. The County's only business -type activity, Paramedic Services, increased
net assets in 2008 by $0.67 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 2008, the combined ending fund balances of County governmental funds was
$47.41 million. Approximately 75.2% 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 ($4.49 million); 2) a state -
constitution mandated emergency reserve ($5.0 million); 3) an advance to the Paramedic Services
($585,000); and 4) prepaid expenses and inventory ($1.66 million).
The County has five major governmental funds. These are 1) General Fund; 2) Public Works Fund;
3) Social Services Fund; 4) Human Services Fund; 5) the Capital Expenditure 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 $11.8 million as of December 31, 2008. Of this
amount, $585,000 is reserved for advances. The 2008 fund balance is $3.7 million higher
than the previous year due to higher revenues than projected from oil and gas royalties
($2.64 Million) and from the liquidation if tax credit payables ($2.66 million). Some of the
additional revenues were offset by transfers to the Capital Expenditures Fund ($1.5 million)
and the Paramedic Services Fund ($.85 million). 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 13.9 % of total 2008
expenditures, while total fund balance is 15.4%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 $16.4 million in fund balance at the end of 2008. This amount is $5.2 million less
than the previous year. 2008 expenditures for road projects were higher than budgeted due
to the carryover of funds to complete the Weld County Road 13 project.
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 $1.1 million balance at the end of 2008 which is 55% less than 2007. The
decrease was attributed to increased costs in 2008 due to the increased case load for public
assistance as a result of the declining economy the last quarter of 2008.
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 increase
in expenditures for 2008 was primarily attributed to Headstart, Job Services, TANF, and
Work Force incentive.
20
5. Capital Expenditure Fund. The Capital Expenditure Fund accounts for the construction of
major capital facilities. For 2008 these projects included the beginning of construction of the
new Social Services Building ($3.27 million), the remodel of the Centennial Complex for
four new courtrooms ($1.87 million), and the completion on the Jail Alternative Building
($2.43 million). The fund balance reduction is attributable to the year end encumbrances for
the Social Services building and the Centennial Complex remodel that will be completed in
2009
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 $(3.9 million). The total increase in net assets for the
fund was $.67 million, due mostly to a transfer from the General fund. Other factors concerning the
finances of this fund were 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, 2007 and 2008
18
16
14
N
12
0 10
8
6
4
2
0
General Fund Public Works Social Human Capital Other Govt.
Services Services Projects Funds
❑2007
O2008
The County's budget is prepared according to Colorado statutes. The most significant budgeted
fund is the General Fund.
In December of 2007, the Board of County Commissioners appropriated $71.8 million for general
fund expenditures and other financing uses.
21
Revenue and other financing sources
Expenditures and other financing uses
Table 3
2008 General Fund Budget
(in Millions)
Original Budget Amendments Final Budget Actual
$ 717 $ 4.0 $ 75.7 $ 80.6
$ 71.8 $ 5.1
$ 76.9 $ 76.9
During 2008 mid -year budget amendments included:
$1.5 million transfer to the Capital Expenditure Fund for the Centennial Complex courtroom
remodels
$.85 transfer to the Paramedics fund for vehicle purchases
Supplemental were made to all departments with vehicles for increased fuel costs
$.0 million for furnishings for the Jail Alternative Building
4 $0.5 million for the new Assessors/Treasurer Software
4 $.42 million for Public Works equipment
$1.1 million for mid -year grants received
4 $.2 million for added election costs
c, $.5 million for municipal contracts for the Sheriff's Office
c, $.2 million for overtime for the Sheriff's Office
The increase was possible because of additional unanticipated revenues. Those revenues include
oil and gas mineral leasing ($2.1 million), interest earnings ($.4 million), a liquidation of tax credits
payables ($2.66 million) and severance tax ($.6 million).
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, 2008 totals $254.08 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 1.54%.
Major capital asset events during the current fiscal year including the following:
Road construction or major improvements totaling $9.4 million.
Completion of Jail Alternative Building $2.43 million
Began construction of the new Social Services building $3.27 million
Began remodel of the Centennial Center to add four new court rooms $1.87 million
Constructed the Rockport grader shed $.23 million
Added parking lot to Island Grove $.19 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 98% 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 12.
Long-term Debt. At December 31, 2008, Weld County had no outstanding long-term debt or debt
from Certificates of Participation (COP). The last COP was paid off early on August 1, 2007.
The Weld County Home Rule Charter provides for a general obligation debt limit of 3% of assessed
valuation. The county had a general obligation debt capacity of $134 million in 2008. The county
currently has no debt subject to the limitation. No new debt was issued in 2008.
Additional information on Weld County's debt can be found in Note 9.
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 2007
budget.
Open Phase III of the North Jail.
Implement an In -Custody AlternaHM'asement Program (ICAPP) for jail inmates
Increased traffic enforcement in Weld County to reduce traffic fatalities.
Bid out the Information Services contract for selection of successful vendor
Implement strategic transportation system to accommodate growth in the County's
urbanized areas and use of the transportation impact fee
Construct four additional courtrooms
Implement a new computer system for the Assessor/Treasurer
Enhance the back-up Communication Center
Complete the update of the Weld County Comprehensive Plan
Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
Enhanced and expanded services in the Southeast Weld Service Center.
Conduct a Presidential Election using vote centers
Contract to construct Weld County Road 2 with Adams County
Establish a Critical Response Team in the Sheriff's Office
Contracted to construct Weld County Road 13 from Weld County Road 8 to 5th Street in
Frederick.
ti
Provide a School Resource Office for the Weld Central High School
Coped with growing inmate population.
Implemented the second year of a 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.
24
BASIC
FINANCIAL
STATEMENTS
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
December 31, 2008
ASSETS
Cash and cash equivalents
Property taxes receivable
Receivables (net of allowance for uncollectibles)
Due from other governments
Internal balance
Inventories
Other assets
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 Business -type
Activities Activities
$ 56,464,631 $ 707,600
76,572,317
3,675,551 2,685,977
3,569,980
177,958 (177,958)
2,007,817
249,873 197
4,118,041
22,692,585
230,317,112
399,845,865
7,037,794
4,761,506
42,217
82,225,844
74,622
189,700
2,620,766
2,182,292
99,134,741
48,496
1,027,629
4,291,941
116,751
322,886
439,637
253,009,697 1,076,125
4,033,041
5,000,000
1,270,613
37,397,773 2,776,179
$ 300,711,124 $ 3,852,304
See accompanying notes to the basic financial statements
Total
Component Units
Housing
Authority
E-911
Authority
$ 57,172,231 $ 1,253,813 $ 3,214,275
76,572,317
6,361,528 759,605
3,569,980
2,007,817
250,070 1,909
4,118,041
22,741,081
231,344,741
564,577
13,544
6,704
6,848
1,746,469
404,137,806 2,593,448 4,974,296
7,154,545
5,084,392
42,217
82,225,844
74,622
189,700
2,620,766
2,182,292
99,574,378
9,493
1,554
9,069
10,621
28,703
59,440
3,992
3,992
254, 085, 822 13,544 1,746,469
4,033,041 564,577
5,000,000
1,270,613
40,173,952 1,955,887 3,223,835
$ 304,563,428 $ 2,534,008 $ 4,970,304
25
COUNTY OF WELD
STATE OF COLORADO
Statement of Activities
Year Ended December 31, 2008
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
$ 31,019,065 $ 11,681,170 $ 2,986,634 $ 25,454
40,496,490 5,814,979 2,462,403
40,795,016 3,518,926 10,488,982
35,117,225 19,870,091 3,049,794
1,077,743 468,488 430,795
14,601,330 756,698 13,716,094
163,106,869 42,110,352
9,289,761
33,134,702 25,454
9,081,966 31,200
$ 172,396,630 $ 51,192,318 $ 33,165,902 $ 25,454
$ 2,778,409 $ 69,228 $ 2,716,994 S
876,929 1,654,314
$ 3,655,338 $ 1,723,542 $ 2,716,994 $
GENERAL REVENUES
Taxes:
Property taxes
Specific Ownership
Severance/Tabacco
Royalties
Miscellaneous
Unrestricted investment earnings
Transfers
Total general revenues
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
$ (16,325,807) $
(32,219,108)
(26,787,108)
(12,197,340)
(178,460)
(128,538)
(87,836,361)
Sib
Total
Component Units
Housing E-911
Authority Authority
▪ $ (16,325,807) $
(32,219,108)
(26,787,108)
(12,197,340)
(178,460)
(128,538)
(87,836,361)
(176,595) (176,595)
MS
O S
$ (87,836,361) $ (176,595) $ (88,012,956) $
72,735,158
7,035,189
507,444
2,644,292
2,302,588
4,075,554
(850,000)
88,450,225
613,864
300,097,260
$
$
SO
Ms
850,000
850,000
673,405
3,178,899
MO
72,735,158
7,035,189
507,444
2,644,292
2,302,588
4,075,554
SS
89,300,225
1,287,269
303,276,159
IMO
IMS
S e
S
7,813 $
Mb
777,385
7,813 $ 777,385
S ib
IMS
11,087
11,087
18,900
2,515,108
S S
777,385
4,192,919
$ 300,711,124 $ 3,852,304 $ 304,563,428 $ 2,534,008 $ 4,970,304
COUNTY OF WELD
STATE OF COLORADO
Governmental Funds
Balance Sheet
December 31, 2008
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
Advances to other funds
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 advances to other funds
Reserved for other assets
Reserved for inventories
Reserved for emergency
Unreserved:
General Fund
Special Revenue Funds
Capital Project Fund
Total Fund Balances
Total Liabilities and Fund Balances
General Fund
$ 16,313,123
53,902,516
50,777
981,672
617,855
210,935
585,000
153,499
236,850
$ 73,052,227
Public Works
Fund
Social Services
Fund
$ 14,016,744 $ 3,704,250
7,339,999
7,172
1,595,478
58,611
517,029
1,252,105
5,763,275
18,556
389,217
483
1,988,042
$ 24,787,138 $ 11,863,823
$ 4,528,909 $
1,714,374
310,520
54,285,005
406,531
61,245,339
185,922
585,000
236,850
153,499
10,645,617
506,654
338,580
163,131
7,418,015
$ 349,506
625,952
74,622
956,735
42,217
8,748,149
8,426,380 10,797,181
822,761
1,252,105
14,285,892 1,066,642
11,806,888 16,360,758 1,066,642
$ 73,052,227 $ 24,787,138 $ 11,863,823
See accompanying notes to the basic financial statements
28
Human Services
Fund
Capital
Expenditures
Fund
Other
Governmental
Funds
Total
Governmental
Funds
$ 108,090 $ 4,617,276 $ 13,824,261 $ 52,583,744
22,560
598,606
1,371,003
575,532
5,523
7,983,755
5,850
SOO
$ 2,681,314 $ 12,606,881
$ 229,575 $
540,706
37,606
779,404
115,622
1,702,913
5,523
972,878
74,989,545
2,058 84,413
578,610 3,567,537
58,611
12,087 1,746,060
- 3,569,980
585,000
- 1,981,136
7,500 249,873
$ 14,424,516 $ 139,415,899
887,379 $
SOO
233,086
8,007,439
9,127,904
3,478,977
5,000,000
8,706,862
64,518
227,537
332,261
85,838
$ 6,566,541
3,447,149
74,622
2,033,339
42,217
79,323,850
522,153
710,154 92,009,871
4,487,660
585,000
7,500 249,873
- 1,405,604
5,000,000
10,645,617
25,032,274
978,401 3,478,977 13,714,362 47,406,028
$ 2,681,314 $ 12,606,881 $ 14,424,516 $ 139,415,899
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of Total Governmental Fund Balances To Statement of Net Assets
December 31, 2008
Total governmental fund balances
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
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
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
Internal services used by Enterprise Fund
Net assets of governmental activities
See accompanying notes to the basic financial statements
$ 47,406,028
237,948,593
(2,810,466)
(2,182,292)
20,756,388
(407,127)
$ 300, 711,124
30
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
Year Ended December 31, 2008
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
General Fund
$ 51,614,173
1,652,464
4,375,301
276,326
4,037,642
11,265,750
7,385,762
80,607,418
28,957,482
37, 874, 959
2,117,032
1,335,267
680,924
866,905
71,832,569
Excess of Revenues Over (Under) Expenditures 8,774,849
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
5,056,708
(5,056,708)
Public Works
Fund
Social
Services Fund
$ 14,799,470 $ 5,750,780
437,461
11,416,258 18,345,008
2,028,829
729,470
358,807
8
29,770,295 24,095,796
34,526,482
25,363,623
14,205
34,526,482 25,377,828
(4,756,187) (1,282,032)
420,000
(420,000)
3,718,141 (5,176,187) (1,282,032)
8,088,747 21,536,945 2,348,674
$ 11,806,888 $ 16,360,758 $ 1,066,642
See accompanying notes to the basic financial statements
Capital Other Total
Human Expenditures Governmental Governmental
Services Fund Fund Funds Funds
$
$ 5,993,871 $ 2,023,918 $ 80,182,212
2,089,925
13,648,357 1,690,518 3,411,839 52,887,281
18,920 295,246
617,167 - 2,215,227 8,898,865
207,268 290,967 30,288 12,523,751
- 101,048 - 7,845,617
14,472, 792
14,459,482
14,459,482
8,076,404 7,700,192 164,722,897
104,175 - 29, 061, 657
689,460 38, 564, 419
36,643,514
7,886,339 34, 585, 229
396,668 1,077,592
- 14,459,482
8,987,941 14,156 9,883,207
9,092,116 8,986,623 164,275,100
13,310 (1,015,712)
(1,286,431) 447,797
297,441 1,500,000 3,116,644 4,914,085
- - 707,377 6,184,085
297,441 1,500,000 2,409,267 (1,270,000)
310,751 484,288 1,122,836 (822,203)
667,650 2,994,689 12,591,526 48,228,231
$ 978,401 $ 3,478,977 $ 13,714,362 $ 47,406,028
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, 2008
Net changes in fund balances - total governmental funds $ (822,203)
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
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
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
21,418,141
18,341,575)
3,076,566
(453,223)
(636,133)
(600,841)
49,698
Change in assets of governmental activities $ 613,864
See accompanying notes to the basic financial statements
34
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
Proprietary Funds
December 31, 2008
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
Advances from general fund
Total Current Liabilities
Total 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
$ 707,600
2,685,977
197
3,393,774
48,496
55,728
710,305
1,140,635
(879,039)
1,076,125
4,469,899
116,751
322,886
85
585,000
1,024,722
1,024,722
1,076,125
2,369,052
$ 3,445,177
407,127
$ 3,852,304
Governmental
Activities
Internal
Service Funds
$ 7,998,928
1,498,359
49,403
313,705
26,681
9,887,076
580,500
1,800,977
31,348,809
(18,669,182)
15,061,104
24,948,180
471,253
1,314,357
26,341
2,379,841
4,191,792
4,191,792
15,061,104
267,416
5,427,868
$ 20,756,388
See accompanying notes to the basic financial statements
3 5.
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenue, Expenses and
Changes in Net Assets
Proprietary Funds
For the fiscal year ended December 31, 2008
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)
$ - $ 9,727,543
9,071,202 9,327,558
9,071,202 19,055,101
3,570,608 -
4,236,634 166,701
326,879 3,167,752
842,453 3,712,341
742,641
221,849 2,886,395
41,640 117,162
- 11,300,796
9,240,063 22,093,788
(168,861) (3,038,687)
Nonoperating revenues (expenses):
Taxes - 1,498,546
Miscellaneous - 100
Interest income - 76,538
Fees 10,764 -
State Grant 31,200 5,115
Gain (loss) on disposition of assets - 133,623
Judgements and damages - 303,924
Total nonoperating revenues (expenses) 41,964 2,017,846
Income (loss) before contributions or transfers (126,897) (1,020,841)
Transfers - in 850,000 420,000
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
723,103 (600,841)
2,722,074 21,357,229
$ 3,445,177 $ 20,756,388
(49,698)
$ 673,405
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, 2008
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
Grants/Other
Net cash provided by noncapital financing activities
Business -type
Activity
Enterprise Fund
Paramedic Services
Governmental
Activites
Internal
Service Funds
$
5,675,810 $
(859,326)
(660,886)
(4,092,409)
63,189
891,965
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Proceeds from sale of capital assets
Grants
Net cash provided (used) for capital and related
Financing activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments
891,965
(310,529)
(310,529)
1,156,987
18,017,000
(18,363,470)
(254,082)
(372,775)
303,924
100
487,684
1,498,546
420,000
1,918,546
(3,996,043)
547,465
5,115
(3,443,463)
76,538
Net Increase (decrease) in Cash and Cash Equivalents 644,625 (960,695)
Cash and Cash Equivalents at Beginning of Year 62,975 8,959,623
Cash and Cash Equivalents at End of Year $ 707.600 $ 7,998,928
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 due from other funds
(Increase) decrease in inventories
(Increase) decrease in other assets
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in other liabilities
Increase (dedrease) in deferred revenue
Total adjustments
Net cash provided (used) by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Capital asset trade-ins
See Accompanying notes to the basic financial statements
$
(168,861) $
221,849
5,138
15
(197)
32,190
18,860
(45,805)
232,050
$
(3,038,687)
2,886,395
303,924
100
129,607
74,846
31,587
(136,989)
329,192
(229,992)
137,701
3,526,371
$
35,503 $
(25,454)
93,436
37
COUNTY OF WELD
STATE OF COLORADO
Statement of Fiduciary Net Assets
Fiduciary Funds
December 31, 2008
Weld County
ASSETS
Cash and cash equivalents
Accounts Receivables
(net of allowances for uncollectables):
Prepaid expense
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
Agency
Funds
Weld County
Retirement Plan
$ 2,717,355 $
166
7,908
600
2,359,917
50,795,914
40,737,027
Other Post
Employment
Benefits
1,831,354
$ 2,717,521 $ 93,901,366 $ 1,831,354
$ 147,776 $ 106,282 $
2,569,745
$ 2,717,521 $ 106,282 $
See accompanying notes to the basic financial statements
$ 93,795,084 $ 1,831,354
COUNTY OF WELD
STATE OF COLORADO
Statement of Changes in Fiduciary Net Assets
Fiduciary Funds
For the fiscal year ended December 31, 2008
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
$ 4,416,080 $ 982,143
4,416,080
(3,130,912)
(35,127,900)
(29,426,652) 982,143
(13,006)
8,998,267
45,603
9,030,864
(38,457,516) 982,143
132,252,600 849,211
Net assets - ending $ 93,795,084 $ 1,831,354
See accompanying notes to the basic financial statements
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2008
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 omris 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 st r at i ve s er vi ces.
The financial st at ement s of the County have been prepared in conf orni t y
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 -neither Board of County Comii 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 st at errant s present the government and i t s
component units, entities for which the government i s consi der ed t o 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 gover nnent - wi de financial st at ement s ( see not e
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 namber 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 r egul at i ons, but was designated as part of
the County for budgetary and audit purposes by an act of the Colorado
General Assembly in 1989.
The E911 Emergency Telephone Servi ce Authority Board was created by
intergovernmental agreements pursuant to Article 11 of Title 29, C. R. S.,
as amended, that authorizes the county, mini ci pal i t i es within the county,
and special districts within the county to enter into an agreement for
the purpose of provi ding 911 emergency telephone services. Per the state
statute cited above, the agreement creates a separate legal entity which
i s responsible for admi ni st er i ng the operations of the 911 emergency
40
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2008
telephone service program in Vhl d County. The authority board cons i sts
of seven members with four selected by the Val d County Commissioners, one
member each is selected by the City of Greeley, City of Fort Lupton and
\Ml d County Sheriff . Under the by- laws of E911 Aut hor i t y, Veld County i s
required to pay all operating costs. They are to maintain al 1 accounts
and have accounts audited. St ate statute requires t hat all funds be
maintained by the W1 d County Treasurer. The operation of the E911
authority is done contractual 1 y by the W1 d County Comnini cation Regi onal
Cent er .
Compl et e financial s t at errmnt s for each of the i ndi vi dual conponent unit s
may be obtained at the entity's adni ni s t rat i ve offices:
Val d County Housing Aut hor i t y
903 6th Street
Greeley, CO 80631
Because t hey provi de servi ces t o or otherwise benefit Val d Count y, the
financial 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 errpl oyees, two appointed by
t he Board of County Comri s s i oner s , and the fifth being the Count y
Treasurer . The County funds half of the retirement pl an, whi ch
covers subs ant i ally al 1 permanent, ful 1 -t i ne enpl oyees of Val d
County. The operation of the plan is accounted for in the Wl d
County Ret i r ement Fund, as a Pensi on Trust Fund. Couplet e 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
Veld County Finance Corporation - The Meld 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
lease to the County. The Board of County Commissioners 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
Directors are employees of the County.
The Law Enf or cement Authorities ( LEA) were i n accor dance wit h
Sect ion 30-11-401, CRS. The 1 aw enf or cement aut hor i t i es are a
t axi ng units created by the county t o provi de additional 1 aw
enforcement service by the county sheriff to residents in a
developed unincorporated area of the county. The governing board of
t he 1 aw enf or cement aut hor i t i es i s the five d Count y
Com i s s i oners . Law enfor cement servi ces t o the aut hor i t y ar e
provided contractually by the county sheriff.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
The Local Improvement Districts (LID) have not been included in the
County's financial statements i ndi vi dually, as t hey are immaterial ,
but are included as a blended component unit of Public Works, a
special revenue fund. The Board of County Conni ssi oners can create
these assessnant 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 npr ovement s are constructed and as an administrative
subdivision of the count y. Having no board of directors, they do
not oper at e i n any capaci t y as an i ndependent government al entity.
The county governing board, Board of County Conmi s s i oner s, makes all
deci si ons on behalf of this admi ni st rat i ve entity.
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 ext end beyond var i ous appoint rnent s.
North Color ado IVtdi cal Cent er - The Board of County Conmi s s i oner s
owns 1 and under 1 yi ng the nai n facility of the lVbdi cal Cent er, whi ch
land is currently leased to the Colorado Hospital Finance Authority
as part of the security for financing the bonded indebtedness of the
1Vbdi cal Center. The indebtedness is not an obligation of the Board
of County Comris s i oner s and no taxpayer funds or Board of Count y
Comri s s i oner s funds are obl i gated to pay any portion of the
pr i nci pal , pr eni um or interest on the Bonds. The l and i s l eased
back from the Authority t o the Board of Trustees, a seven member
Hospital Board of Trustees appointed by the Board of Count y
Comr s s i oner s . The Hospital Board of Trustees has entered into an
operating sublease of the ground and facilities with NCM, Inc. , a
501(c) (3) ent i t y, with three of its namber s 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 Mdi cal Center . NClvC has the ability to
i ncur its own debt and its oper at i ons are financed totally by
patient revenues .
Greeley- W1 d Airport Aut hor i t y - The County Conmi s s i oners appoint
two of the five Airport Authority Board menber s . The County has
cont ri but ed approxi mat el y 5% of the funds for capital construction.
The Aut hor i t y has full aut onomy under Color ado State 1 aw, can i ncur
debt , and funds it operations totally from user fees.
Veld Library District - The County Commissioners, together with the
concurrence of the city councils of seven part i ci pat i ng
mini ci pal i t i es, appoint the s even- member Library District Board.
The Library District Board has total aut onomy under the State
Library Act t o i ncur debt , establish budgets, and 1 evy pr oper t y
taxes to support the District's library system
Colorado Counties Casualty and Property Pool (hereinafter referred
t o as "CAPP" - CAPP was for reed July 1, 1986, by an i nt er gover nment al
42
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
agreement by member counties as a separate and independent
government al and 1 egal entity pursuant t o the provisions of Art i cl e
XIV, 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
Colorado 1aw to make provision for the property and casualty
coverage which constitute the functions and services joint 1 y
provided by means of the CAPP. The Insurance Conmi 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
controlling costs by provi di ng speci al i zed governmental risk
nanagement services and syst t ens .
It is the intent of the members to use rrerrber 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
members to have CAPP provide needed coverage at reasonable costs.
All income and assets of CAPP shall be at all tines dedicated to the
exclusive benefit of its members. Veld County, through its
Insurance Internal Service Fund, recognizes an expense for the
armunt paid t o CAPP annual 1 y for these coverages.
Val d County is a charter neither of CAPP and has been a continuous
member since July 1, 1986.
B. Government -wide Financial Statements:
The County's basic financial statements consist of government - wide
statements, including a statement of net assets and a staterrant of
activities, and fund financial statements which pr ovi de a mvr a detailed
1 eve l of financial i of or mat i on. The government - wi de focus i s more on the
sus t 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 oat ion about the county as a whole. In the government - wi de
st at event of net assets, both the government al and business - type
activities columns are presented on a consolidated basis by column.
These statements include the financial activities of the primary
government, except for fiduciary activities. For the rmst part, the
effect of i nt erfund activity has been renoved from these st at errent s.
Governmental activities, whi ch normal 1 y are supported by t axes
and i nt er government al revenues, are reported separately from business -
type activities, which rely to a significant extent on fees and charges
for support.
43
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
The government -wide statement of activities reflect both the direct
e xpenses and net cost of each function of the County's government al
activities and bus i nes s - like activity. Direct expenses are those that
are cl early 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
i nt erfund activity are treated as such in the par t i ci pat i ng funds and are
not eliminated as part of the consolidation process . Grants and
cont r i but i ons t hat are restricted t o meet i ng the operational or capital
requirement s of a particular program and interest earned on grants that
is required to be used to support a par t i cular program are included in
operating gr ants and cont r i but i ons, or capital gr ants and cont r i but i ons .
Revenues whi ch are not classified as program revenues are presented as
general revenues of the County, with certain 1 i ni t ed except i ons. The
comparison of direct expenses with program revenues i dent i f i es the extent
to whi ch each government function or business segment i s self- financing
or draws from the general revenues of the County.
Fund Financial Statements
The financial t r ans 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 self-
bal anci ng set of accounts that corrpri se 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 present ed. The enphas i s of fund financial s t at ement s i s
on naj or government al and enterprise funds, each displayed in a separate
col unn. All remaining gover nrrent al and enterprise funds are aggregated
and presented as non- maj or funds.
Proprietary funds distinguish operating revenues and expenses from
nonoperating i t env. Operating revenues and expenses generally resul t
from providing services and producing and delivering goods in connection
with a proprietary fund's principal ongoing oper at i ons . The principal
operating r evenues of the Paramedic enterprise fund and of the
government's internal service funds are charges to cust orrers 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 - wi de financial s t at event s are reported using the economi c
resources measurement focus and the accrual basis of account i ng, as are
t he proprietary fund and fiduciary fund statements. Revenues are
e ecorded when earned and expenses are recorded at the t i ne liabilities
are incurred, regardl ess of when the related cash flows take pl ace.
Nonexchange transactions, in which the County gives (or receives) value
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
without direct 1 y receiving ( or gi vi ng) equal value i n exchange, include
property t axes, grants, and donations. Revenues from property taxes are
recognized in the fiscal year for which the taxes are levied. Revenue
from grants and donations is recognized in the fiscal year in which all
eligibility r equi r event s have been satisfied.
Under the term of grant agreement s, the County funds certain programs by
a corrbi nation of specific cost - r ei nbur sement grants, cat egor i cal block
grants, and general revenues. Thus, when program expenses are incurred,
there are both restricted and unrestricted net assets available to
finance the pr ogr am It is the County's policy to first apply cos t -
rei n-bursement grant resources t o such programs, fol l owed by cat egori cal
block grants, and then by general revenues.
Government al fund financial st at ement s are reported using the current
financial resources measurement focus and the rmdi fi ed accrual basis of
accounting. Revenues are recognized as soon as they are both rreas ur abl e
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 period. Expendi tures generally are
recorded when a liability is incurred, as under accrual accounting.
However expendi t ur es related t o conpens at ed absences and cl ai ms and
j udgnents, are recorded only when payment i s due.
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 of her revenue i t env are considered t o be measurable and avai 1 abl e
only when cash i s received by the government .
All government al and business -type activities and enterprise funds of the
County fol 1 ow only FASB Statements and I nt erpr et at i ons i s sued on or
before, not after , November 30, 1989, Accounting Principles Boar d
Opi ni ons, and Accounting Research Bulletins, unless those pronouncement s
conflict with GASB pronouncements.
The County reports the f of l owi ng naj or government al 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 collection and
distribution, vehicle licensing, County a dnr ni s t rat i on, and of her
activities financed from taxes and general revenues are reflected in
t his fund.
45
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
The Public Works Fund records costs related t o County road and
bridge construction and nai nt enance except for engineering, which is
recorded in the General Fund. By State law, Colorado counties are
required to nai nt ai n 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 administers human services programs under
state and federal r egul at i ons. Programs include, but are not
limited to, 1Vhdicaid, Food Stamps, Foster Care programs, and
Temporary Assistance to Needy Families (TAW). Color ado counties
are required by state law to maintain a Social Services Fund.
The Human Services Fund primary program are ass oci at ed with the
VWbrkforce Investment Act (WA) funded under the Department of Labor,
Enpl oyment and Tr ai ni ng Admi ni s t r at i on. They also administer all
the Head Start programs.
The Capital Expenditures Fund accounts for al 1 the Count y' s
construction projects. The County chooses to use the pay as you go
plan instead of debt . Property taxes are used to fund the Law
Enf or cement Cent er and the expansi on of the Det ent i on Cent er.
The County reports the f of l owi ng naj or enterprise fund:
The Paramedic Fund operates the paramedic services for the County,
whi ch i s pri mar i 1 y funded by revenues for services rendered.
The
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
County also reports the following fund types:
Thnternal Service Funds account for the financing of goods or
services provided by one depart ment or agency to other department s
or agencies of the County on a cost r ei mbur sement basis . The
Count y' s internal service funds report on self - i nsur ance pr ogr ans
for enpl oyee health, dent al and vision benefits, risk management,
unempl oyrrent , fleet services, telecom ani cat i ons and acqui si t i ons of
real estate and construction of bui 1 di ngs used by Count y
depart ment s.
Services pr ovi ded and used by internal services funds are not
e ntirely el i mi nat ed from the gover nnent - 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 to eliminate revenue over expenditures in
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 individuals, private organizations and other government s. These
funds are cust odi al in nature (assets equal liabilities) and do not
involve neasur ement of results of operations. The County has funds
hel d for of her 1 ocal government al unit s, empl oyee/ enpl 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 Vhl d County Ot her Post Empl oynent
Benefit Plans. These funds accunul ate resources for pension
benefit , and of her post enpl oynent benefit payment s t o qual i fi ed
county empl oyees. The Plans use the accrual basis of accounting.
Enpl oyee and empl oyer cont r i but i ons are r ecogni zed as revenues i n
t he 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 terns of the
Plan.
D. Assets, liabilities, and net assets or equity
1. Deposits and investments
The Veld County Treasurer rra.intains a cash
available for use by all County funds except
fund's portion of this pool i s di spl ayed as
Accrued interest receivable i s di s pl ayed
interest gained through secured investments
General Fund per Col or ado State St at ut es,
Cons er vat i on Trust , Capital Expenditures Fund, Liability 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 appropriate fund and are stated at cost.
and investment pool t hat i s
for some agency funds. Each
cash and cash equivalents".
separately. The armunt of
is credited to the County's
with the exception of the
it
47
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2008
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
e quivalent.
For the purpose of cash flows, cash and cash equivalents are determined
by original rat ur i t y of three rmnt hs . Investments are reported at fair
market values using quoted market pri ces.
2. Property Taxes:
Property t axes attach as an enforceable lien on property as of January 1.
Taxes wer e levied on December 22, 2008, and are payable either in t we
i ns t al 1 rents due on February 28 and June 15 or in full on April 30. The
bill becomes delinquent on ltr ch 1, May 1, and June 16 and penalties and
interest nay be assessed by the County. The County, through the Veld
County Treasurer, bills and collects its own property taxes, as well as
property taxes of al 1 other taxing authorities within the County. In
accordance with Section 14-7 of the Val d County Home Rule Charter, al l
ad valorem tax 1 evi es for County purposes, when applied t o the total
valuation for assessment of the County, shall be reduced so as t o
prohibit the levying of a greater amount of tax revenue than was levied
from ad val or em taxation i n the pr ecedi ng year plus five percent (54,
e xcept to provide for the paynent of bonds and interest. The Board of
County Connissioners s i oner s nay submit the question of an increased levy to the
County Council and, if in the opinion of a raj or i t y of the County Counci 1
nay grant an increased levy for the County in such amount as it deems
appropriate, and the County is authorized to rake such increased 1 evy.
Any one capital project requiring a capital expenditure out of funds
procured by ad valorem taxation equal to a three ni I 1 levy for three
years, shall be prohibited unless approved by a maj or i t y vote of the
qualified elect ors at a general or special el ect i on per Section 14-8 of
t he Meld County Home Rule Charter .
3. Interfund Transactions
Transactions between funds t hat would be t r eat ed as revenues,
e xpenditures, or expenses if they involved organizations ext er nal to the
County are accounted for as revenues, expenditures, or expenses in the
funds i nvol ved. Transactions which constitute r ei nbur s event s of a fund
for expenditures or expenses initial 1 y made from t hat fund whi eh 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 rei nbursed. At year end, out st andi ng
balances between funds are reported as "due t o/ from other funds".
I nt er fund balances are generally expected to be repaid within one year of
t he fi nanci al st at event date. Any r esi dual balances out st andi ng between
the governmental activities and business- type activities are reported in
the government - wide financial statements as "internal balances".
48
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2008
4. Inventories and Prepaid Items
Inventories of government al funds, which consist of expendable nat eri al s
held for consunpt ion, are stated at cost ut i 1 i zi ng the wei ght ed average
cost met hod. These funds fol 1 ow the consumption rrnt hod of accounting
whereby expenditures are recorded at the time the inventory item 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 it ems in 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 items), are
reported i n the applicable governmental or business - type activities
colurms in the governrent - wide financial statements. Capital assets are
defined by the County as assets with an initial , i ndi vi dual cost of rmre
than $5,000 and a useful 1 i f e of more 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
est i nut ed fair market value at the date of donation.
The costs of norrral nai nt enance and repairs t hat do not add to the value
of the asset or material 1 y extend assets' lives are not capitalized.
All reported capital assets, except for gravel roads are depreci at ed.
I npr ovenent s are depr eci at ed over the r epai ni ng useful 1 i ves of the
related capital assets. Depreciation on all assets is provided on the
straight - line basis over the f of l owi ng est i mat ed useful lives :
Bui 1 di ngs
Improvements
Infrastructure
Infrastructure
Equi pment
Heavy Equipment
- Bridges
- Roads
20-50 year s
20 years
50 years
20 years
3-5 years
10-20 years
St at ennnt 34 allows an alternative approach which would reflect a
reasonable value of the asset and the cost incurred t o mai nt ai n the
service pot ent i al to locally established mini mum standards in lieu of
depr eci at i on. To elect this option, the County mist devel op and
i npl ement an asset management syst em whi ch measures, at least every third
year by class of asset, if the minimum standards are being mai ntained.
ned.
Related disclosures are additionally required as part of the Required
Supplement ar y Information. The County has elected to use the alternative
approach only for gravel roads.
49
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
6. Compensated Absences
County cnpl oyees accunul ate sick leave and vacation benefits at rates of
8 hours per month and 8 to 16 hours per imnth, respectively, depending on
1 engt h of servi vi ce. In the event of r et i r ement or t er ni nat i on, an
e npl oyee is paid 100% of accumul at ed vacation pay. An enpl oyee whose
date of hire is prior t o January 1, 1985, is paid for 50% of accumrl at ed
sick leave hours up to the equivalent of one rmnt h; if the employee's
date of hire is after January 1, 1985, no sick leave is paid upon
✓ etirement or t er mi nation. Up to 320 hours of annual vacation nay be
carried over from one year to the next. Corrpens at or y time is gr anted
( except for official , professional , and adni ni st rat i ve positions) at the
rate of one and one- half hours for each overtime hour worked, not to be
accumil at ed in excess of forty hours.
The unpaid sick leave, vacation pay and related benefits at the end of
t he period will generally not be paid with expendable and avai 1 abl e
✓ esources. Pr opr i et ary funds accrue sick leave, vacation pay and related
benefits in the period they are earned by the employees.
The entire compensated absence liability is reported on the government -
wi de financial s t at events. Expenditures and liabilities for compensated
absences are reported on the government fund statements only when the
liability for the compensated absences becomes due.
7. Long-term obligations
In the government - wi de financial st at events and proprietary fund types in
t he fund f i nanci al st at ement 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 pr opr i et ary fund type st at errent
of net assets.
8. Fund Equity
In the fund fi nanci al st at ement s, gover nnent al funds report r es er vat i ons
of fund balance for armunt s t hat are not avai 1 abl a for appropriation or
are legally restricted by outside parties for use for a specific purpose.
Its 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 maximum equity
available in fund balance and consist of:
Reserved for Encumbrances:
These reserves are est abl i shed t o record purchase orders and
c onni t went s outstanding for whi ch the related goods/ services have
not been received at year end. The reserves recorded at December
31, 2008, include $185, 922, $822, 761, and $3, 478, 977 for the General
Fund, Speci al Revenue Funds, and Capital Expenditures Funds,
respectively, for a total of $4, 487, 660.
Reserved for Other Assets:
These reserves are est abl i shed t o record all prepaid i t ens.
Recorded reserves at December 31, 2008, are $236, 850 and $13, 023 for
the General Fund and Special Revenue Funds respectively, for a tot al
of $249, 873.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
Reserved for Inventories:
These reserves are established to record the total level of supply
i nvent ones. Recorded reserves at Decerber 31, 2008, are $153, 499
and $1, 252, 105 for General Fund and Special Revenue Funds
respectively, for a total of $1, 405, 604.
Reserved for Advances:
These reserves are established to record the total advance between
funds. Reserve at December 31, 2008, is $585, 000, all recorded in
General Fund.
Reserved for Emergencies:
The reserve for emergencies as required by Section 20 to Article X
of the Color ado Constitution, also known as the Taxpayer's Bill of
Rights (TABOR) is classified as restricted assets on the balance
sheet. Reserved at December 31, 2008 is $5, 000, 000, all recorded in
a Special Revenue Fund
Designated Fund Balance:
Fund bal ance des gnat ed for subsequent year's expenditures
represents fund bal ance commitments for appropriated expenditures i n
excess of anticipated revenue for the year ended December 31, 2008.
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 accumil at ed depr eci at i on, reduced by the
out s t andi ng balances of any borrowing used for the acquisition
construction of improvements of those assets. Net assets are reported as
restricted when there are 1 i mi t at i ons imposed on their use ei t her through
t he enabling 1 egi s 1 at i on adopted by the County or through external
restrictions imposed by creditors, grantors, laws or regulations of other
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 enent s in conformity with general 1 y
accepted accounting principles requires management to make est i mat es and
assunptions that affect the armunts reported in the financial statenents
and accompanying notes. Actual results nay differ from those estimates.
Note 2 - Stewardship, Compliance, and Accountability
A. Budgetary information
An annual budget and appropriation ordinance is adopted by the Board of
County Conni s s i oner s in accordance with the Colorado State Budget Act and
\Ml d County Home Rule Charter . The budget i s prepared on a bas i s
consistent with generally accepted accounting principles. Budgets are
est abl i shed for all Government al funds, Internal Service funds and the
Enterprise Fund. The accounting system i s enpl oyed as a budgetary
51
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
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 classi fi cat i on at whi ch
expenditures nay not 1 egal l y exceed appr opr i at i ons, except for the
General Fund where the department level of expenditures cannot 1 egal 1 y
e xceed appr opr i at i ons . During the year , several supplemental
appr opr i at i ons were necessary. All annual appr opr i at i ons 1 apse at year
e nd.
The Director of Finance and Administration is authorized to transfer
budgeted armunts within departments of each fund. Any r evi s i ons t hat
alter the total appropri i at i on for a fund or for any General Fund
department must be approved by the County Connissioners s i oner s through a
supplement al appropriation or di nance. During 2008, two suppl ernent al
appropriation ordinances were enact ed. Budget armunt s reported i n the
acconpanyi ng financial st at eimnt s reflect these suppl ernent al
appr opr i at i ons.
B. Excess of expenditures 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 event of Revenue,
Expenditure and Changes in Fund Balance - Budget and Actual. Revenue
were down due t o the annexation of a landfill in 2008. 2009 Expenditures
will be adjusted to compensate for the decreased revenues.
Expenditures exceeded appr opr i at i ons i n the Par arnedi c Fund (Enterprise
Fund) . The over expenditures were funded greater than ant i ci pat ed
revenue, and wi 1 l be corrected in the 2009.
Expenditures exceeded appropriations in the Nbt or Vehicle Fund (Internal
Service) . The excess expenditures over appr opr i at i ons i n this fund are a
✓ esult of i ncr eased demand for service and the i ncr eased cost of
pr ovi di ng services . These expenditures wi l l be mnni t or ed i n 2009.
Expenditures exceeded appr opr i at i ons i n the Insurance Fund ( Internal
Service). Insurance claims for 2008 were higher than expected causing
e xpenditures t o exceed appr opr i at i ons .
52
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
Note 3 - Equity in Pooled Cash and Investments:
A. Cash and Investments
Cash and investments at December 31, 2008 consisted of the following:
Deposit s
CDs
Investment s
FFCB
FHLB
FNMA
Total
5, 000, 000
53, 993, 013
8, 997, 775
$ 3, 595, 779
3, 765,013
67, 990, 788
$ 75, 351, 580
Cash and investments at December 31, 2008 reported in government - wi de and
agency funds consisted of the fol 1 owi ng:
Government -W de
Agency Funds
Total
B. Deposits
$ 71, 244, 829
2, 144, 419
$ 73, 389, 248
The Colorado Public Depos i t Protection Act (PDPA) requires that all 1 ocal
governments deposit cash in eligible public depositories. Eligibility is
determined by state regulations. The State regulatory comrissioners
regulate the eligible public depositories. AnDunt s on deposit in excess
of federal insurance levels mist be collateralized by eligible collateral
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 nai nt ai ned by anot her institution, or held in trust for all the
uni nsured public deposits as a group. The market value of the col l at eral
mist be at least equal to 102% of the uninsured deposits. At December 31,
2008 the County had deposits of $7, 360, 792 collateralized with securities
held by the financial institutions' agents but not i n the County name.
C. Investments
The County is required to comply with State statutes which specify
investment instruments meeting defined rating, maturity, custodial and
concentration risk criteria in which local governments nay invest
including:
4 Cbl i gat i ons of the United States and certain U S. Agency securities
4 Certain international agency securities
4 Gener al obl i gat ion and revenue bonds of U S. local gover nment ent i t i es
4 Banker's acceptance of certain banks
4 Conner ci al paper
4 Witt en repurchase agreements collateralized by certain aut hor i zed
securities
4 Certain imney market funds
4 Guaranteed investment contracts
4 Nbney lirket Funds in Bank Account
53
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
The County has no provisions in its investment policy that would further
1 i ni t i nves t rent choices. At December 31, 2008, the County had the
following investments:
Investment Maturities (in Years)
1 year or Less
1 - 3 years
3 - 5 years
1Vbney 1VRr ket
Total $ 75, 351, 580
$ 3, 765,013
999, 375
66, 991, 413
$ 71, 755, 801
3, 595, 779
D. Credit Risk
State statutes limit investments in U S. Agency securities to the highest
rating issued by nationally r ecogni zed statistical rating organizations
(NRSRc) . At December 31, 2008, the County investments in the Federal
Home Loan Bank, Federal Hone Loan Mr t gage Cor por at i on, Federal Nat i onal
1Vbrt gage Association, and Federal Farm Credit Bank were rated AAA by
Standard & Poor' s. 1Vbney Mr ket Funds were managed by Wells Fargo Bank
in accordance with state regulations pl edged and 102% Government
Guar ant eed Bonds and AAA rat ed.
E. Concentration of Credit Risk
State statute does not 1 i ni t the armunt the County may invest in one
issuer . At Dec ember 31, 2008, the County's i nves t rent s i n Federal
National 1Vbr t gage Association, Federal Home Loan Bank, and Federal Farm
Credit Bank represented 13%9 80°/q and 7% respectively of the Count y' s
total investments.
F. Interest Rate Risk
State St at ut es limit the maxi num maturity date unl es s an exception is
made by the county commissioners, which does not exist at the present
time, to five years. The average duration in the portfolio on December
31, 2008 was 3. 3 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 mark -to -the- market
was within one percent of the county's basis.
G. Money Market Funds in Bank Account
The County had $3, 863, 612 invested in overnight pooled rmney with Wells
Fargo on December 31, 2008. 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 meeting the PDPA requirements of the State of
Col or ado, which i s admi ni s t er ed under the State's Banking 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
investment and withdrawal functions. Substantially all securities owned
54
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
are held by the Federal Reserve Bank in the account maintained for the
custodial bank. The cust odi an' s internal records identify the invest went s
owned by the par t i ci pat i ng governments.
Note 4 - I nt er fund Trans actions
Due to/from other funds:
The county reports i nt er fund balances between many of its funds. Some of
t he balances are consi der ed i meat er i al and are aggregated into a single
column 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 time
lag between the dates that (1) inter fund goods and services are provided
or reimbursable expenditures occur, (2) transactions are recorded in the
accounting system and (3) payments between funds are nude. I nt er fund
balances are generally expected t o be repaid within one year of the
financial statement date.
Receivable Fund
General
Public War ks
Social Services
Hunan Services
Non- Mij or Cover nnrnt al
Internal Service
Payable Fund
Public Marks
Social Services
Hunan Services
Non- l4j or Governmental
Enterprise Fund
General
Social Services
Capital
Non- Mj or Governmental
General
Social Services
Non-M.j or Government
Internal Service Fund
General
General
Public Works
Social Services
Hunan Services
Non- Mj or Government al
$ 6, 044
353, 212
19, 618
36, 569
85
55, 351
123, 130
105, 461
233, 086
482
404, 691
180, 090
13, 825
12, 087
48, 162
157, 087
75, 702
17, 988
2, 252
$1, 844, 922
55
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2008
Advances from/to other funds:
The balance of $585, 000 advances to Par anedi c Fund for the General
Fund resulted from general operating needs with the decrease of
lvbdicaid reimbursement for services.
Receivable Fund Payable Fund
AnDunt
General Fund
Enterprise Fund - Paramedic $ 585, 000
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 summarizes the County's transfer activity:
Transfers Out:
General Fund
Public %rks
Non- N%j or
Cover nnent
Non-1Vfij or Hunan
Government Services
$2, 409, 267 $ 297, 441
707, 377
3, 1 1 6. 644
Capital
$1, 500, 000
297, 441 1, 500, 000
Transfers In:
Enterprise
Paramedics
$ 850, 000
850. 000
I nt ernal
Service
$ 420,000
Total
$5, 056, 708
$ 420, 000
$ 707,377
420, 000 6, 184, 085
The County also had noncash transfers. Contribution of capital assets
from ( t o) government : I nt er nal Service Funds ($25, 454) .
Note 5 - Allowance for Uncol 1 ect i bl e Accounts Recei vabl e:
The allowance for uncol l ect i bl e receivables consists of the fol l owi ng
at Decerrber 31, 2008:
Fund Type
General
Public Works
Special Revenue
Capital Expenditures
Enterprise
Internal Service
Total
Al 1 owance for
Uncol 1 ect i bl e
$ 12, 700
1, 794
1, 936
1, 463
802, 313
351
$ 820, 557
56
COUNTY OF WELD
STATE OF COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2008
Note 6 - Capital Assets:
Capital asset activity for the year ended December 31, 2008, was as follows:
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
Beginning
Balance Increases Decreases
$ 8,265,907
7,987,495
20,697,328
36,950,730
83,104,232
7,082,652
42,067,496
287,610,366
419,864,746
23,600,316
1,990,689
24,326,259
157,660,885
207,578,149
212,286,597
$ 249,237,327
$ 48,496
710,305
55,728
962,920
1,728, 953
334,391
46,578
409,035
790,004
938,949
$ 987,445
$ $
1,346,724
1,346,724
23,681,136
913,590
4,919,634
10,185,460
39,699,820
2,286,671
282,775
3,814,176
13,758,161
20,141,783
19,558,037
$ 2Q904,761
$
346,032
346,032
$
24,266
3,426
194,157
221,849
124,183
124 183
64,085
15,540,784
15,604,869
3,240,964
2,320,976
5,561,940
Transfers
$
2,729,337
1,305,081
4,034,418
1,527,522
$ 17,132,391 $
$
168,317
168,317
132,814
132,814
35,503
$
X35.,503 $ _
Si
Ending
Balance
$ 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
$ 253,009,697
$ 48,496
710,305
55,728
1,140,635
1,906,668
358,657
50,004
470,378
879,039
1,027,629
$ 1,076,125
57
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2008
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
of the
prinary
$ 1, 306, 265
1, 629, 543
13, 951, 711
105, 980
12, 010
249, 879
2, 886, 395
$ 20, 141, 783
Bus i nes s - type activities
Par anedi c Service $ 221, 849
Not e 7 - Risk nanagement and insurance:
The County is exposed to various risks of loss related to torts; theft
of, damage to, or destruction of assets; and errors or omissions. (See
Note 12) These activities are accounted for in 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 annunt of the
loss is reasonably es t i nabl e.
Insurance coverages have not been significantly reduced from prior years
and settlements have not exceeded insurance coverage in the past three
years .
The County manages risks of loss through a combination of cornier ci al
i nsurance, participation in 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 pr ovi des health, dental and vision i nsur ance benefits to
enpl oyees, whi ch are funded by enpl oyee and employer cont r i but i ons .
These activities are accounted for i n the Health Insurance Fund, an
internal service fund.
58
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2008
Workers' Compensation coverage is partially self - insured, with insurance
coverage of a $400, 000 self -insured retention. Estimated liabilities for
claims made and claim incurred but not reported (IBNR) at year-end are
shown as accrued liabilities in the fund. These estimates are based upon
a third - party admi ni st r at or' s review of cl ai ms and actuarial pr of ect i ons
from hi st or i cal claims data. Changes i n the bal ances of claims
liabilities during the current and prior years are as follows:
Unpaid Cl ai ms - Begi nni ng
Incurred Cl ai ns (Includes I BNR' S)
Cl aims Pai d
Unpai d Cl ai ns - Endi ng
2007
690, 396
597, 661
(612, 310)
$ 882,530
2008
$ 882, 530
1, 396, 094
(1,168,519)
$ 1, 110, 105
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 in the Insurance Internal Service Fund. Est i nut ed
liabilities under the $125,000 self -insured retention for claims made and
claims incurred but not reported (IBNR) at year-end are shown as accrued
liabilities in the fund. These estimates are based upon CAPP's claim
administrator's review of claims and actuarial projection from historical
claims data. Changes in the balances of claims liabilities under the
$125, 000 self- insured retention during current and prior years are as
follows:
Unpaid CI ai rrs - Begi nni ng
Incurred Claims (Includes IBM! s)
Claims Paid
Unpaid Cl ai ns - Endi ng
2007
$ 120, 486
155, 746
(191, 623)
$ 84, 609
2008
$ 84, 609
732, 767
(631, 430)
$ 185, 946
The Health Insurance Internal Service Fund covers the county's dental
vi s i on reimbursement pl an. The plan is not an insurance program
rat her an empl oyee r ei nbur sement plan t hat closes out each year
Decenber 31, for services received on or before t hat date.
out s t andi ng claims or incurred but not reported liabilities exist
year-end. The health insurance plan is fully insured.
and
but
on
No
for
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 enpl oyee health benefit plan with a specific deductible amount of
$100, 000 per individual, and an aggregate excess loss insurance policy
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
t hat has both a rmnt hl y at t achnent point and an annual cumil at i ve
attachment limit with a terra nal attachment point . Attachment points ar e
cal cul at ed based upon enrollment . The premiums ful 1 y fund the cumil at i ve
and t ermi nal attachment points, so there is no unfunded liability for the
program at any time. The plan is on a claim paid basis, which means
t here are not any out st andi ng cl ai rrs or incurred but not reported
liabilities at year end. In no event shall the expense i ncur r al period
extend beyond the date the policy expires.
Note 8 - Operating Leases:
The reporting entity has entered into a number of operating leases which
contain cancellation provisions and are subject t o annual appropriations .
For the reporting per i od, rent payment s approxi mat ed $477, 544 for all
types of leases. These expenditures were made primarily from the
General, Public Works and Social Services Funds.
Note 9 - Long- Term Debt :
Vold County has no general bonded indebtedness . I n accordance wit h
Section 30- 35- 201 CRS, 1973, the County's general bonded indebtedness is
limited to 3% of the assessed valuation, or $136, 974, 703 at December 31,
2008.
The County has i s sued industrial revenue bonds for the purpose of
financing capital proj ect s of several private enterprises. Under terms
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 outstanding as of December 31, 2008 totaled $13, 885, 496.
Changes in long-term liabilities
Long - term liability activity for the year ended December 31, 2008, was as
follows:
Beginning
Bal ance
Addi t ions Reduct i ons
Endi ng
Bal ance
Due Wt h i n
One Year
Compensated absences
General Fund $ 1,296,088 $ 247,216 S 0 $1,543,304 $ 94,147
Public Wbrks 442,468 29,989 0 472,457 28,468
Social Services 439,502 155,986 0 595,488 52,492
Public Health 179,185 20,032 0 199,217 14,593
Total governmental $ 2,357,243 $ 453,223 $ 0 $2,810,466 $ 189,700
60
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
Note 10 - W1 d County Ret i r errent Plan:
Plan Description:
The Wl d County Retirement PI an (Pl an) i s a single- empl oyer, defined
benefit pension pl an administered by a five -member retirement board. The
plan provides r et i r ernent , disability and death benefits to plan members
and beneficiaries at the discretion of the Ret i r enent 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 enent s and required s uppl ement ary i of or mat ion. That report nay be
obt ai ned by cont acting the County of Weld, State of Col or ado.
Funding Policy:
The cont r i but i on requirements of pl an member s and the County ar e
est abl i shed and nai nt ai ned by the Board of Comm s si oner s. Pl an members
are required to contribute 8. 5% of their annual covered payroll. The
County is required to contribute at an actuarially determined rate; the
current rate is 8. 5% of annual covered payroll.
Annual Pension Cost and Net Pension Obligation:
The County' s annual pensi on cost and net pensi on obligation to the Plan
the current year were:
Annual Required Contributions
Interest on net pension obligation
Annual Pension Cost
Cont r i but i ons Wade
$ 4, 928, 519
123, 693
5, 052, 212
4, 416,079
Increase in net pension obligation 636, 133
"IN.t pension obligation (asset) beginning of year 1, 546, 159
Net pension obligation (asset) end of year $ 2, 182,292
The annual required contribution for the current year was determined as
part of the January 1, 2008 act uar i al valuation using the entry age
actuarial cost net hod. The actuarial as s umpt i ons included ( a) 8%
investment rate of return (net of administrative expenses) and (b)
projected salary increases ranging from 5. 3% to 8. 5% per year. Both (a)
and (b) included an inflation component of 3. 5% 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 renaming
anvr t i zat i on period at January 1, 2008, was 30 years.
61
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
Three -Year Trend Information:
Fiscal Year Ended
December 31, 2006
December 31, 2007
December 31, 2008
Funding Status:
Annual Pension
Cost ( ARC)
4, 225, 104
4, 447, 927
45, 052, 213
Percentage of APC
Cont r i but ed
75. 9%
85. 0%
87. 4%
Net Pension
Obl i gat i on (Asset )
872, 872
1, 546, 159
2, 182, 292
Act uar i al
Val uat ion
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
Percent ag
e of
Covered
Payroll
[b -a)/ c]
1/1/08
$125, 879, 138
$167, 011, 647
$41, 132, 509
75. 4%
$49, 967, 777
82. 3%
A schedule of fundi ng progress can be found i n the RSI section following
the not es to the financial s t at events. The schedule of funding progress
presents i nfornnat i on on the funding process and its increases and
decreases over tine.
Not e 1 1 - Ot her Post En -p1 oyment Benefits :
Plan Description:
W1 d County Ot her Post Empl oyrrent Benefits PI an ( OPEB PI an) is a s i ngl e-
enpl oyer defined benefit healthcare pl an administered by Weld County that
pr ovi des medi cal , dent al , and vision insurance benefits to el i gi bl e
retirees and their spouses. The OPEB Plan was created by a Board of Meld
County Commissioners resolution on November 30, 1998, and amended
December 16, 2002 and Sept ember 21, 2005. The OPEB Plan provides the sane
health, dental, and vision plan as offered W1 d County employees and at
the sane cost. The program i s not part of the W1 d County Retirement P1 an
and is not a vested benefit or right , but it is a pl an that can be
anended or stopped at any tine by the Board of W1 d County Commissioners
for any reason. The program is only available to Meld County employees
hired prior to October 1, 2005. From December 16, 1998, to December 31,
2008, a retiree who retires from enploynent with Val d County after ten
years of servi ce, or was an elected offi ci al of Val d County for at least
one full four year term who has attained the age of 55 years and is
drawing benefits from the Val d County Retirement PI an is eligible to
continue health, dental , and vision cover age unt i 1 age 65. After Januar y
1, 2009, an enpl oyee 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 Meld
County elected official for two full terns. Coverage ends in all cases
at age 65. The Board of \Ml d County Conni s s i oner s on September 15, 2008
decided by resolution that the current program will be stopped January 1,
62
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
2009, except for those employees born on or prior to December 31, 1957,
or any employee born on or prior to December 31, 1958, who wi l l have 30
years of service prior t o reaching age 62. Employees meeting these
criteria wi l l be gr andf at her ed into the current plan and will r enni n
e ligible for continued benefits under the retiree health insurance
program adopted December 16, 2002. For an empl oyee neet i ng the above
criteria to be eligible for he gr andf at her ed pl an the enpl oyee and/ or
dependants, if applicable, nest have been enrolled as of January 1, 2008,
in the W1 d County health insurance plan. Employees an/ or dependant s
e nrolled in the Wl d County health insurance plan after January 1, 2008
are not eligible for the gr andf at her ed plan.
Funding Policy:
The cont r i but i on requirements of pl an member s and Wl d County ar e
e stablished and nay be amended by the Board of W1 d County Commissioners
annually. The required contribution is based on projected pay-as-you-go
financing requirements, with an additional armunt t o prefund benefits as
det ermi ned by an actuarial report done bi - annually. For fi s cal year 2008,
t he county contributed $1, 651, 382 t o the pl an, including $669, 240 for
current pr eni unv (appr oxi nat el y 77 per cent of tot al pr eni urns) and an
additional $982, 142 to prefund benefits. Plan members receiving benefits
contributed $194, 988, or approximately 23 percent of the total pr emi urns,
through their required contribution ranging between $95 to $132 per rmnth
for retiree -only coverage and between $170 to $205 for retiree and spouse
coverage. The OPEB Plan assets are deposited in the W1 d County OPEB
Plan Trust Fund. The empl oyer ' s contributions t o the trust fund ar e
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 oyers 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 count y' s annual of her post
e npl oynent benefit (OPEB) cost (expense) i s calculated based on the
annual required contribution of the employer (ARC) , an armunt actuarial 1 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
projected t o cover nor nal cost each year and anmrt i ze any unfunded
actuarial liabilities (or fundi ng excess) over a period not to exceed
thirty years. The primary assumption for the ARC calculation is the 7.5%
di s count rate. The actuarial 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. Li abilities are cornput ed using the proj ect ed
unit credit net hod. The unfunded actuarial accrued liability was
amorti zed over a closed 25 year period. The fol l owi ng shows the
components of the county's annual OPEB cost for the year , the armunt
actually contributed to the plan, and changes in the county's net OPEB
obl i gat i on t o Val d County:
COUNTY OF V e l d County
STATE OF COLORADO
Year Ended Decenber 31, 2008
Benefit Obligation and Normal Cost on January 1, 2009
Actuarial Accrued Liability
Ret i red Errpl oyees
Active Employees
Tot al
Unfunded actuarial accrued liability (UAAL)
Norrral cost beginning of year
Armrtized factor based on 25 years
$ 5, 41 1, 716
2,934,307
$ 8,346,023
$ 8,346,023
99, 753
11.617
Level Dollar Amortization
Calculation on ARC under Projected Unit Credit Method on January 1, 2009
Amortization of UAAL over 25 years
Normal cost at beginning of year
Interest
2008 Gross Annual Requi red Contribution (ARC)
Enpl oyee Cont ri but ions
2008 Net County ARC
County Cont r i but i on
Increase i n net OPEB obl i gat i on
$ 560,778
99, 753
49, 540
710,071
( 194, 988)
515, 083
( 669, 240)
(154,157)
Unfunded actuarial accrued liability (UAAL) beginning of the year $6, 514, 670
Covered Participants as of January 1, 2009
Active Errpl oyees
Retired Enpl oyees
Spouses of Ret i red Errpl oyees
Three -Year Trend Information:
Annual Required
Fiscal Year End Contribution (ARC)
Decenber 31, 2007 $ 1, 304, 815
Decenber 31, 2008 $ 710,071
58
93
28
179
Percentage of Net OPEB
ARC Contributed Obligation
100% $
123% $ (154, 157)
Prior to January 1, 2007, the OPEB Plan was on a pay as you go funding
basis. January 1, 2007, was the first tint an actuarial accrued liability
was calculated to determine the net OPEB obligation. The OPEB obligation
as of Decenber 31, 2008 was $8,346,023, there were $1, 831, 353 in assets
on Decenber 31, 2008 to calculate an actuarial value of plan assets.
Funded Status and Funding Progress. The funded status of the plan as of
January 1, 2009, was as follows:
Actuarial Accrued Li ability ( AAL) $ 8, 346, 023
Actuarial value of plan assets 1,831,353
Unfunded actuarial accrued l i ability ( UAAL) $ 6, 514, 670
Funded ratio (actuarial value of pl an assets/ AAL) 21.9%
64
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
Actuarial val uat i ons involve est i nut es of the value of reported amount s
and assumptions about the probability of events far into the future, and
actuarially det er ni ned amount s are subject t o continual revision as
actual results are compared to past expect at i ons and new es t i mat es are
nude about the future.
The required schedule of fundi ng progress presents multi year t r end
i nformat ion about 'whether the actuarial value of assets is increasing or
decreasing over tine 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 plan at the time of each valuation and
on the pat t ern of sharing of costs between the employer and numbers to
that point and reflect a long-term perspective.
The Wl d County OPEB Plan Assets are accounted for in the Veld County
OPEB PI an Trust Fund. A I RC Section 115 Trust i s being est abl i shed for
the Val d County OPEB Plan Trust and IRS approval is pending. Stand alone
financial st at ement s are not available.
Note 12 - Comm t nent s and Contingencies:
Conmi t nent s
At year - end there were projects under construction with commitments of
$5, 543, 612 including $2, 648, 978 for construction of the new Division of
Hunans Services building, and 2, 894, 633 for the Courts Vest Phase IV.
Col or ado voters passed an amendment to the St ate 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
r equi r event s of the amendment . However , the entity has nude c er t ai n
i nt erpr et at i ons of the amendment's 1 anguage i n of her t o det ermi ne i t s
compl i ance.
The County participates in a number of federal and state grant programs.
Principal fundi ng agencies include Department of Labor, Comrruni t y
Services Administration, Department of Health and Human Services,
apart rnent of Housing and Urban revel opment , Economi c revel opnent Agency,
and Area Agency on Aging. These programs are subj ect to program
compl i ance audits by the grantors or their representatives. The amount,
if any, of expenditures which may be disallowed by the granting agenci es
cannot be det erne ned at this tine, alt hough the County expects such
amounts, if any, to be iInuit erial.
65
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
Note 13 - Public Trustee:
Pursuant t o an act of the Color ado General As sembl y, the W1 d Count y
Public Trustee is to be deened 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, 2007
Assets
Liabilities
Fund Balance
Additions
Deduct i ons
$1, 168, 649
503, 471
665, 178
1, 564, 325
1, 564, 665
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
401(1) . Funding level s
2005
2006
2007
2008
are set at the following:
7%
7%2%
8%
8'A%
Errpl oyer/ Enpl oyee
Errpl Oyer/ Enpl oyee
Enpl oyer/ Empl oyee
Enpl oyer/ Enpl oyee
Code section
plan
66
COUNTY OF W 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2008
Note 14 - Non -Cash Activity in Social Services Fund
Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures
For the Year Ended December 31, 2008
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
4,122,301
9,894
118,848
4,241,149
128,742
Low -Income Energy
Assistance Program
1,980,085
-
190,999
2,171,084
190,999
Temporary Assistance for
Needy Families
1,739,203
281,639
2,658,518
4,397,721
2,940,157
Administration
12,629
2,526
6,837,898
6,850,527
6,840,424
Trails/Child Welfare
10,594,683
2,346,210
8,905,645
19,500,328
11,251,855
Core Services
1,378,296
220,183
141,556
1,519,852
361,739
Aid to the Needy Disabled
890,991
143,475
(70,824)
820,167
72,651
IV -D Administration
-
-
2,429,165
2,429,165
2,429,165
CHATS/Child Care
3,023,855
369,749
676,429
3,700,284
1,046,178
General Assistance
-
-
122,727
122,727
122,727
Subtotal
23,742,043
3,373,676
22,010,961
45,753,004
25,384,637
Food Assistance
16,130,897
-
(6,809)
16,124,088
(6,809)
Grand Total
39,872,940
3,373,676
22,004,152
61,877,092
25,377,828
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.
67
COLORADO
Required Supplementary
Information
d3 f3 Z filed
i N acs
•
4
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2008
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)
Funde
d
Ratio
( a/ b)
Covered
Payroll (c)
UAAL as a
Percent ag
e of
Covered
Payroll
[b -a)/ c]
1/ 1/02
$ 87,
357,
656
$ 93,
322,
664
$ 5,
965,
008
93.
6%
$33,
405,
430
17. 9%
1/1/03
$ 87,
140,
219
$100,
581,
108
$13,
440,
889
86.
6%
$36,
205,
613
37. I%
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%
Schedule of Employer Cont r i but i ons
Year Ended
December 31
Annual
Requi red
Contribution')
- Retirement PI an
Actual
Cont r i but i on
Per cent age
Cont r i but ed
2002
2003
2004
2005
2006
2007
2008
("Requi red
$1, 986, 145
$2, 734, 414
$3, 125, 337
$4, 236, 858
$4, 236, 858
$4, 408, 097
$4, 928, 519
cont r i but i on at begi nni
$2, 094, 969
$2, 182, 671
$2, 234, 518
$2, 779, 636
$3, 205, 310
$3, 840, 640
$4, 416, 079
ng of year.
Schedule of Funding Progress - Other Post Employment
105. 5%
79. 8%
71.5%
86. 1%
65. 6%
87. 1%
89. 6%
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
S 0
$ 13,
594,
087
$ 13,
594,
087
0. 0%
1/ 1/09
S 1, 831, 353
$ 8,
346,
023
$ 6,
514,
670
21.9%
69
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.
2008
Condition Miles of Road % of Total
Good 2036 86.2%
Fair 277 11.8%
Poor 50 2.0%
Comparison of Estimated -to -Actual Maintenance/Preservation
2004 2005 2006 2007 2008 2009
Estimated $ 1,463,167 $ 1,800,000 $ 1,861,200 $ 3,328,512 $ 2,666,172 $ 2,947,356
Actual $ 1,785,000 $ 2,910,000 $ 1,804,000 $ 1,892,000 $ 2,169,920
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.
70
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, 2008
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Severance tax
Tobacco products
Penalties & interest
Property tax adjustment
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
Sales of assets
Total Miscellaneous
Original Final
$ 52,403,818
390,000
90,000
(810,917)
52,072,901
5,000
625,000
600,000
90,000
1,320,000
2,000
3,009,318
29,890
258,689
3,299,897
200,000
2,722,139
104,500
27,000
3,053,639
130,000
130,000
1,282,618
3,200,000
128,516
500,000
5,111,134
$ 52,403,818
90,000
(810,917)
51,682,901
5,000
625,000
1,000,000
190,000
1,820,000
192,587
2,000
3,822,318
29,890
258,689
4,305,484
320,000
3,007,459
104,500
27,000
3,458,959
130,000
130,000
1,312,118
3,200,000
128,516
2,550,000
7,190,634
Actual
$ 52,246,182
86,023
92,885
(810,917)
Variance
$ (157,636)
(3,977)
92,885
51,614,173 (68,728)
4,908
365,909
1,073,520
208,127
(92)
(259,091)
73,520
18,127
1,652,464 (167,536)
283,203
2,856
3,729,588
117,023
242,631
4,375,301
332,618
3,495,260
181,151
28,613
90,616
856
(92,730)
87,133
(16,058)
69,817
12,618
487,801
76,651
1,613
4,037,642 578,683
88,574
187,752
88,574
57,752
276,326 146,326
4,744,079
3,656,477
219,904
2,644,292
998
3,431,961
456,477
91,388
94,292
998
11,265,750 4,075,116
71
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, 2008
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
Public Trustee
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
Interagency Oversight Group
Financial administration
General accounting
Purchasing
Personnel
Geographical Information Systems
Computer Services
Printing and Supply
Transportation
Total General Government
(CONTINUED)
Original Final
6,552,500
52,000
48,000
6,994,500
52,000
48,000
6,652,500 7,094,500
71,640,071 75,682,478
662,455
704,452
7,000
1,698,190
287,059
801,478
1,671,783
1,631,854
834,857
2,424,676
4,400,345
30,658
4,414,819
175,690
528,545
17,353
312,982
579,255
141,549
694,390
294,919
1,969,675
334,222
24,618,206
718,455
725,452
7,000
1,598,190
315,059
831,478
1,671,783
1,671,854
924,857
2,770,676
4,530,345
30,658
4,424,819
175,690
46,000
583,945
17,353
13,000
40,000
327,982
579,255
141,549
916,390
294,919
2,639,675
342,222
26,338,606
Actual
7,284,109
51,315
50,338
7,385,762
80,607,418
683,547
647,093
1,587,075
314,188
792,733
1,676,257
1,684,357
1,100,245
2,657,523
4,622,473
13,756
4,375,517
117,970
91,076
1,477,970
14,760
12,945
41,026
(3,878)
312,744
646,283
141,109
760,637
238,968
3,119, 363
324,275
14,053
27,464,065
Variance
289,609
(685)
2,338
291,262
4,924,940
34,908
78,359
7,000
11,115
871
38,745
(4,474)
(12,503)
(175,388)
113,153
(92,128)
16,902
49,302
57,720
(45,076)
(894,025)
2,593
55
(1,026)
3,878
15,238
(67,028)
440
155,753
55,951
(479,688)
17,947
(14,053)
(1,125,459)
72
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, 2008
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
E-911 administration
Criminal justice
County Coroner
Correctional administration
Community correction
Building inspection
Office of emergency management
Waste water management
Animal control
Pest/weed control
Victim Advocates
Solid waste
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
Original Final
1,298,020
6,992,741
1,073,777
169,615
189,279
1,990,945
700
975,176
574,612
19,972,232
2,421,190
1,304,716
140,927
11,367
427,563
481,349
126,180
38,150,389
2,079,109
400,500
67,332
3,947
2,550,888
145,062
46,125
12,500
100,000
8,750
312,437
71,124
32,000
318,945
422,069
1,398,020
6,781,328
1,073,777
857,238
240,915
189,279
1,990,945
700
975,176
649,612
19,512,232
2,426,190
1,204,716
150,927
11,367
446,563
503,349
126,180
38,538,514
1,629,109
400,500
67,332
245,147
2,342,088
101,062
46,125
12,500
1,170,000
8,750
1,338,437
96,124
32,000
318,945
447,069
Actual
1,399,162
7,485,206
1,069,176
546,948
154,405
192,622
1,976,821
31,538
22
830,008
639,446
19,412,862
1,768,357
1,170,657
132,620
9,191
448,409
489,968
113,267
4,274
Variance
(1,142)
(703,878)
4,601
310,290
86,510
(3,343)
14,124
(31,538)
678
145,168
10,166
99,370
657,833
34,059
18,307
2,176
(1,846)
13,381
12,913
;4,274)
37,874,959 663,555
1,365,125 263,984
442,161 (41,661)
63,650 3,682
246,096 (949)
2,117,032 225,056
101,062
46,125
12,500
1,166, 830
8,750
1,335,267
88,694
32,000
560,230
3,170
3,170
7,430
241,285)
680,924 (233,855)
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, 2008
Budget - GAAP Basis
EXPENDITURES (CONTINUED)
Miscellaneous:
Other
Building rents
Total Miscellaneous
Original Final
879,294
115,000
1,449, 294
135,000
994,294 1,584,294
Capital Outlay:
Capital purchases 1,680,733 1,235,720
Total Expenditures
Other Financing Source (Use)
Non -Departmental
Transfers - Out:
Appropriation Grants -In -Aid
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund Balance at End of Year
68,729,016
81,892
3,056,708
(2,974,816)
(63, 761)
Actual
1,395,653
97,764
1,493,417
Variance
53,641
37,236
90,877
866,905 368,815
71,824,728 71,832,569
5,056,708
5,056,708
(5,056,708) (5,056,708)
(7,841)
(1,198,958) 3,718,141 4,917,099
8,088,747 8,088,747 8,088,747
$ 8,024,986 $ 6,889,789 $ 11,806,888 $ 4,917,099
74
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, 2008
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
Gain on sale of assets
Recovery of losses
Total Miscellaneous
Fees:
Other fees
Total Revenues
Original Final
$ 7,354,938 $ 7,354,938
420,000
6,600,000 6,600,000
13,954,938
370,000
200,000
80,000
20,000
4,654,166
340,000
8,200,000
13,494,166
820,233
820,233
28,639,337
14, 374, 938
370,000
200,000
80,000
20,000
4,654,166
340,000
8,200,000
13,494,166
820,233
820,233
29,059,337
Actual
$ 7,332,084
421,421
7,032,971
12,994
14,799,470
437,461
263,601
70,195
92,723
2,360,202
342,757
8,286,780
11,416,258
2,028,829
119,822
3,889
605,759
729,470
358,807
29,770,295
Variance
$ (22,854)
1,421
432,971
12,994
424,532
67,461
63,601
(9,805)
72,723
(2,293,964)
2,757
86,780
(2,077,908)
2,028,829
119,822
3,889
(214,474)
(90,763)
358,807
710,958
76
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, 2008
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
Other Financing Sources (Uses):
Transfers - Out:
Motor Pool
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
3,411,732
4,425,840
1,520,994
3,554,680
2,033,911
858,360
5,283,639
9,939,559
31,028,715
1,654,918
32,683,633
(4,044,296)
21,536,945
$ 17,492,649
3,611,732
5,815,840
1,520,994
3,770,680
1,693,911
879,360
5,603,639
10,939,559
33,835,715
1,654,918
35,490,633
420,000
(6,851,296)
21,536,945
$ 14,685,649
Actual
3,780,399
5,683,899
1,244,444
3,730,173
1,513,958
1,216,157
4,961,298
10,714,974
32,845,302
1,681,180
34, 526,482
420,000
Variance
(168,667)
131,941
276,550
40,507
179,953
(336,797)
642,341
224,585
990,413
(26,262)
964,151
(5,176,187) 1,675,109
21,536,945
$ 16,360,758 $ 1,675,109
77
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, 2008
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Intergovernmental:
Welfare
Miscellaneous:
Earnings on deposits
Total Miscellaneous
Total Revenues
EXPENDITURES
Public Health and Welfare:
Administrative - regular
Administrative - IV -D
Institutional care
Food stamps
Employment first
General assistance
TANF
AND - State
Child welfare
Day care
Original Final
Actual
Variance
$ 5,775,000 $ 5,775,000 $ 5,740,717 $
5,775,000 5,775,000
19,700,814 19,900,814
25,475,814
7,552,264
2,645,250
308,500
78,500
3,490,500
86,000
10,148,000
1,146,600
10,063
5,750,780
18,345,008
8
8
25,675,814 24,095,796
7,552,264
2,645,250
1,708,500
78,500
3,490,500
86,000
8,548,000
1,146,600
4,855,095
2,429,163
401
(6,809)
1,970,725
122,728
2,940,156
72,651
11,251,852
1,046,179
(34,283)
10,063
(24,220)
(1,555,806)
8
8
(1,580,018)
2,697,169
216,087
(401)
6,809
(262,225)
(44,228)
550,344
13,349
(2,703,852)
100,421
78
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, 2008
Budget - GAAP Basis
EXPENDITURES (CONTINUED):
OAP - A
Core services
Administrative - LEAP
Total Public Health and Welfare
Capital Outlay
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
153,500
400,000
181,700
26,190,814
205,000
26,395,814
(920,000)
153,500
400,000
181,700
25,990,814
205,000
26,195,814
(520,000)
Actual
128,744
361,740
190,998
25,363,623
14,205
25,377,828
(1,282,032)
2,348,674 2,348,674 2,348,674
Variance
24,756
38,260
(9,298)
627,191
190,795
817,986
(762,032)
$ 1,428,674 $ 1,828,674 $ 1,066,642 $ (762,032)
79
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, 2008
Budget - GAAP Basis
Original Final Actual Variance
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
Colorado Works
Preschool program
Building Health Marriages
FENWC carryover
Job service
Summer job hunt
Jobs/New directions
Employment first
TANF
WIA administration
WIA adult programs
WIA youth programs
WIA Rapid Response/DW
JTPA ((B
10% Discretionary Grant
National emergency
WIA planning
WIA dislocated worker
$ 12,519,246 $ 12,897,616 $ 11,799,389 $ (1,098,227)
2,487,550 2,498,050 1,848,968 (649,082)
15,006,796 15,395,666 13,648,357 (1,747,309)
697,170 794,820
697,170 794,820
617,167 (177,653)
617,167 (177,653)
155,000 155,000 154,218 (782)
53,050 53,050
155,000 155,000
15,858,966 16, 345,486
50,000
2,973,766 2,973,766
2,321,768 2,322,418
128,000 128,000
10,000 30,000
823,335 913,335
769,804 769,804
33,000 35,000
45,000 45,000
156,240 181,240
740,190 740,190
135,925 135,925
366,668 366,668
514,087 514,087
13,825 13,825
41,600 41,600
19,500 35,500
127,000
25,000 25,000
479,346 479,346
207,268 52,268
14,472,792 (1,872,694)
9,919
3,040,059
2,321,605
28,898
488,252
822,215
34,998
7,804
272,370
671,322
114,779
381,320
604,844
52,020
15,454
112,846
19,694
416,162
40,081
(66,293)
813
128,000
1,102
425,083
(52,411)
2
37,196
(91,130)
68,868
21,146
(14,652)
(90,757)
13,825
(10,420)
20,046
14,154
5,306
63,184
80
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, 2008
Budget - GAAP Basis
EXPENDITURES (CONTINUED):
Human resources lab pool
UI training program
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
Transportation
AAA state funds
Medicaid transportation
Supplemental foods
Part E family caregiver support
CSBG
Total Economic Assistance
331,990
66,290
2,865,909
80,450
164,130
15,981,317
Original Final
Actual
300,000 300,000 293,739
201,200 201,200 214,893
221,460 221,460 222,611
89,113 89,113 61,971
70,181 70,181 42,686
234,610 234,610 207,991
405,020 405,020 389,625
42,000 42,000 40,846
13,040 13,040 18,418
2,500 195
2,230 2,230 1,024
5,390 5,390 4,142
858,280 858,280 897,963
391,380 391,380 247,049
1,600 10,000 5,754
3,900 6,000 2,277
10,000 10,000 9,537
26,090 26,090 1,604
47,000 37,910
331,990 410,244
66,290 42,055
2,865,909 1,472,566
80,450 49,141
260,000 370,680
16,467,837 14,459,482
Total Expenditures 15,981,317 16,467,837
Other Financing Sources (Uses):
Transfers - In:
OAA area agency
Total Other Financing Sources
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
117,351
117,351
(5,000)
667,650
117,351
117,351
(5,000)
667,650
$ 662,650 $
14,459,482
297,441
297,441
310,751
667,650
Variance
6,261
(13,693)
(1,151)
27,142
27,495
26,619
15,395
1,154
(5,378)
2,305
1,206
1,248
(39,683)
144,331
4,246
3,723
463
24,486
9,090
(78,254)
24,235
1,393,343
31,309
(110,680)
2,008,355
2,008,355
180,090
180,090
315,751
662,650 $ 978,401 $ 315,751
81
COLORADO
Supplemental Information
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2008
MAJOR GOVERNMENTAL FUND
Capital Projects Fund
Capital Expenditures Fund:
This fund accounts for various capital improvement projects on County property.
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.
Contingent Fund:
The Contingent Fund records any property tax revenue levied by the Board of County
Commissioners to cover reasonably unforseen expenditures.
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
83
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2008
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.
84
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2008
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.
85
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2008
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
86
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Combining Balance Sheet
Non -Major Governmental Funds
December 31, 2008
Conservation Contingent Emergency
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:
Designated for future year's expenditure
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
$ 239,991 $ 7,450,927 $ 5,000,000
2,058
$ 239,991 $ 7,452,985 $ 5,000,000
$
239,991
239,991
$ - $
2,058
2,058
7,450,927
5,000,000
7,450,927 5,000,000
$ 239,991 $ 7,452,985 $ 5,000,000
8ff
Public Health Solid Waste
Fund Fund
Law
Enforcement
Authority
Funds
Total
Nonmajor
Governmental
Funds
$ 788,361 $ 335,647 $ 9,335 $ 13,824,261
578,610
12,087
2,058
578,610
12,087
7,500 - - 7,500
$ 1,386,558 $ 335,647 $ 9,335 $ 14,424,516
$ 63,026 $
227,537
218,910
83,780
593,253
7,500
1,492 $
105,461
106,953
785,805 228,694
793,305 228,694
7,890
7,890
1,445
1,445
$ 64,518
227,537
332,261
85,838
710,154
7,500
5,000,000
7,450,927
1,255,935
13,714,362
$ 1,386,558 $ 335,647 $ 9,335 $ 14,424,516
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, 2008
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
Conservation
Trust Fund
430,795
7,877
Contingent
Fund
$ 1,998,666
438,672 1,998,666
396,668
396,668
42,004 1,998,666
42,004 1,998,666
197,987 5,452,261
Emergency
Fund
5,000,000
$ 239,991 $ 7,450,927 $ 5,000,000
90
Public Health Solid Waste
Fund Fund
$
2,981,044
1,501,825
41,331
4,524,200
7,886,339
14,156
7,900,495
(3,376,295)
3,116, 644
3,116,644
(259,651)
1,052,956
$
Law
Enforcement
Authority
Funds
- $ 25,252
713,402
713,402
665,554
665,554
47,848
707,377
(707,377)
(659,529)
888,223
25,252
23,906
23,906
1,346
Total
Nonmajor
Governmental
Funds
$ 2,023,918
3,411,839
2,215,227
49,208
7,700,192
689,460
7,886,339
396,668
14,156
8,986,623
(1,286,431)
3,116, 644
707,377
2,409,267
1,346 1,122,836
99 12,591,526
$ 793,305 $ 228,694 $ 1,445 $ 13,714,362
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, 2008
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
$ 6,000,000 $ 6,000,000 $ 5,983,262
10,609
6,000,000
750,000
250,000
35,000
6,000,000
3,100,000
250,000
35,000
7,035,000 9,385,000
10,256,899 14,106,899
10,256,899 14,106,899
1,500,000
1,500,000
(3,221,899) (3,221,899)
5,993,871
1,690,518
101,048
290,967
Variance
$ (16, 738)
10,609
(6,129)
(1,409,482)
(148,952)
255,967
8,076,404 (1,308,596)
9,092,116
9,092,116
1,500,000
1,500,000
484,288
2,994,689 2,994,689 2,994,689
5,014,783
5,014,783
3,706,187
$ (227,210) $ (227,210) $ 3,478,977 $ 3,706,187
92
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, 2008
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
$ 396,000 $ 396,000 $ 430,795 $ 34,795
9,000 9,000
405,000 405,000
392,599
12,401
392,599
12,401
405,000 405,000
7,877 (1,123)
438,672 33,672
396,668
(4,069)
12,401
396,668 8,332
42,004
197,987 197,987 197,987
42,004
$ 197,987 $ 197,987 $ 239,991 $ 42,004
93
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, 2008
Budgeted
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
Actual
Variance
$ 2,000,000 $ 2,000,000 $ 1,995,006 $ (4,994)
3,660 3,660
2,000,000
2,000,000
7,400,000
7,400,000
(5,400,000)
5,452,261
2,000,000
2,000,000
7,400,000
7,400,000
1,998,666
1,998,666
(5,400,000) 1,998,666
5,452,261 5,452,261
(1,334)
(1,334)
7,400,000
7,400,000
7,398,666
$ 52,261 $ 52,261 $ 7,450,927 $ 7,398,666
94
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, 2008
Budgeted
REVENUES
Taxes:
Total Revenues
EXPENDITURES
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
5,000,000
(5,000,000)
5,000,000
5,000,000
(5,000,000)
5,000,000
$ - $
Actual
5,000,000
$ 5,000,000
Variance
5,000,000
5,000,000
$ 5,000,000
95
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, 2008
Budgeted
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:
Nursing
Environmental health
Total Capital Outlay
Total Expenditures
Original Final
Actual
Variance
$ 3,133,896 $ 3,965,091 $ 2,981,044 $ (984,047)
2,939,357 2,939,357 - (2,939,357)
6,073,253 6,904,448 2,981,044 (3,923,404)
1,349,997 1,359,932
1,349,997 1,359,932
16,900
1,900
18,000
16,900 19,900
7,440,150 8,284,280
220,000
593,339
5,111,076
2,156,806
68,018
(68,500)
1,518,267
4,894,707
2,697,109
351,899
1,501,825
1,501,825
18,920
434
21,977
41,331
141,893
141,893
18,920
(1,466)
3,977
21,431
4,524,200 (3,760,080)
194,254
1,314,026
3,491,851
2,559,637
326,571
(262,754)
204,241
1,402,856
137,472
25,328
8,149,239 9,393,482 7,886,339 1,507,143
7,980
6,176
14,156
(7,980)
(6,176)
(14,156)
8,149,239 9,393,482 7,900,495 1,492,987
Other Financing Sources (Uses):
Transfers - In:
Non Departmental 707,377 707,377 3,116,644 2,409,267
Total Other Financing Sources 707,377 707,377 3,116,644 2,409,267
Net Change in Fund Balance (1,712)
Fund Balances at Beginning of Year
Fund Balance at End of Year $ 1,051,244 $ 651,131 $ 793,305 $ 142,174
(401,825)
(259,651)
1,052,956 1,052,956 1,052,956
142,174
96
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, 2008
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
$ 635,000 $ 635,000 $ 713,402 $ 78,402
635,000 635,000 713,402 78,402
440,000 560,000
440,000 560,000
440,000 560,000
81,892
707,377
(789,269)
665,554 (105,554)
665,554 (105,554)
665,554 (105,554)
707,377 707,377
(707,377) (707,377)
(594,269) (632,377) (659,529) (27,152)
888,223 888,223 888,223
Fund Balances at End of Year $ 293,954 $ 255,846 $ 228,694 $ (27,152)
97
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, 2008
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
$ 14,216 $ 14,216 $ 15,225 $ 1,009
1,800 1,800 1,449 (351)
26 26
16,016 16,016
16,016
16,016
Fund Balances at Beginning of Year 99
16,700 684
16,016 16,016
16,016 16,016
684 684
99 99
Fund Balances at End of Year $ 99 $ 99 $ 783 $ 684
98
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, 2008
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
Fund Balances at Beginning of Year
$ 7,890 $ 7,890 $ 7,772 $ (118)
769 769
11 11
7,890 7,890
7,890
7,890
8,552 662
7,890 7,890
7,890 7,890
Fund Balances at End of Year $ - $
662 662
$ 662 $ 662
99
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, 2008
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
$
3,012,756
3,012,756
4,280
4,280
3,017,036
2,759,584
253,172
3,012,756
4,280
$
3,012,756
3,012,756
4,280
4,280
3,017,036
2,759,584
253,172
3,012,756
4,280
$ 4,280 $
Actual
$
2,716,994
2,716,994
11,087
69,228
80,315
2,797,309
2,364,551
412,930
928
2,778,409
18,900
Variance
$
(295,762)
(295,762)
11,087
64,948
76,035
(219,727)
395,033
(159,758)
(928)
234,347
14,620
2,515,108 2,515,108
4,280 $ 2,534,008 $ 2,529,728
100
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, 2008
Budgeted
REVENUES
Miscellaneous:
Earnings on deposits
Charge for service
Total Revenue
EXPENDITURES
Personnel Services
Depreciation
Purchased services
Supplies
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Original Final
Actual
Variance
$ 90,000 $ 90,000 $ 159,363 $ 69,363
1,513,361 1,513,361 1,494,951
1,603,361
86,982
116,053
869,209
111,494
1,183,738
419,623
1,603,361 1,654,314
86,982
116,053
869,209
111,494
1,183, 738
419,623
122,188
530,210
224,531
876,929
777,385
4,192,919 4,192,919 4,192,919
(18,410)
50,953
86,982
(6,135)
338,999
(113,037)
306,809
357,762
Fund Balances at End of Year $ 4,612,542 $ 4,612,542 $ 4,970,304 $ 357,762
1(11
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 2008
This Information From The Records Of County of Weld
Prepared By: Barbara Connolly
Phone: (970) 356-4000 x4445
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)
16,475,581
a. Motor Fuel (from Item I.A.5.)
2. Maintenance:
14,842,036
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
403,333
3. Other local imposts (from page 2)
14,803,369
c. Other
328,204
4. Miscellaneous local receipts (from page 2)
3,550,678
d. Total (a. through c.)
731,537
5. Transfers from toll facilities
4. General administration & miscellaneous
2,897,337
6. Proceeds of sale of bonds and notes:
5. Highway law enforcement and safety
a. Bonds - Original Issues
6. Total (1 through 5)
34 946 491
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)
18,354,047
b. Redemption
B. Private Contributions
c. Total a. + b.
0
C. Receipts from State government
(from page 2)
2. Notes:
10,989,739
a. Interest
D. Receipts from Federal Government
from page 2)
b. Redemption
426,519
c. Total (a. + b.)
0
3. Total (1.c + 2.c)
0
E. otal recei i is (A.7 + B + C + D)
29,770,305
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements (A.6 + B.3 + C + D)
34,946,491
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 Disbursement4 D. Ending Balance
I E. Reconciliation
21,536,944
29,770,305
34,946,491
16,360,758
0
Notes and Comments:
FORM FHWA-536 (Rev. 1-05)
PREVIOUS EDITIONS OBSOLETE
1
(Next Page)
102
2008 Local Highway Finance Report.xls
LOCAL HIGHWAY FINANCE REPORT
STATE:
Colorado
YEAR ENDING (mm/yy):
December 2008
II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL
ITEM
AMOUNT
ITEM
AMOUNT
A.3. Other local im osts:
A.4. Miscellaneous local recei i ts:
a. Property Taxes and Assessments
7,348,967
a. Interest on investments
119,822
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
2,028,829
5. Specific Ownership &/or Other
7,454,402
g. Other Misc. Receipts
796,268
6. Total (1. through 5.)
7,454,402
h. Other
605,759
c. Total a. + b.
14,803,369
(Ca forward to •a_e 1)
i. Total a. through h.
3,550,678
(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
8,286,780
1. FHWA from Item I.D.5.
2. State general funds
2. Other Federal agencies:
3. Other State funds:
a. Forest Service
70,195
a. State bond proceeds
b. FEMA
b. Project Match
c. HUD
c. Motor Vehicle Registrations
342,757
d. Federal Transit Admin
d. Other (Specify)
2,360,202
e. U.S. Corps of Engineers
e. Other (Specify)
f. Other Federal
356,324
f. Total (a. through e.)
2,702,959
g. Total (a. through f.)
426 519
4. Total 1. + 2. + 3.
III. DISBURSEMENTS
10,989,739
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
457,808
TOTAL
(c)
457,808
b. En:ineerin: Costs
c. Construction:
2,253,504
2,253,504
0
(1). New Facilities
(2). Capacity Improvements
10,929,279
10,929,279
(3). System Preservation
2,834,990
2,834,990
(4). System Enhancement & Operation
0
(5). Total Construction (1) + (2) + (3) + (4)
0
13,764,269
13,764,269
d. Total Ca,ital Outla Lines l.a. + l.b. + 1.c.5
0
16,475,581
16,475,581
(Carry forward to page 1)
Notes and Comments:
FORM FHWA-536 (Rev.1-05)
PREVIOUS EDITIONS OBSOLETE
2
103
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Net Assets
Internal Service Funds
December 31, 2008
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
Total current assets
Capital assets:
Improvements other than buildings
Buildings
Machinery and equipment
Accumulated depreciation
Total Capital 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
Long-term liabilities:
Certificates of participation
Total Long-term Liabilities
Total Liabilities
Net Assets
Invested in capital assets
Restricted for:
Workers' compensation
Unrestricted
Total net assets
$ 985,551 $ 4,473,860 $ 1,606,448
27,474
237,644
26,681
1,277,350
580,500
1,800,977
29,631,562
(17,631,095)
14,381,944
$ 15,659,294 $ 4,490,886 $ 3,113,439
1,496,953
1,406
17,026 8,632
4,490,886 3,113,439
$ 352,726 $ 9,887 $ 48,268
- - 1,296,051
26,341
379,067
379,067
14,381,944
878,137
1,501,704
888,024 2,846,023
888,024 2,846,023
898,283 3,602,862
267,416
$ 15,280,227 $ 3,602,862 $ 267,416
104
Phone Services
Fund
$ 933,069
21,929
50,403
1,005,401
1,717,247
(1,038,087)
679,160
$ 1,684,561
$ 60,372
18,306
78,678
78,678
679,160
926,723
Total Internal
Service Funds
$ 7,998,928
1,496,953
1,406
49,403
313,705
26,681
9,887,076
580,500
1,800,977
31,348,809
(18,669,182)
15, 061,104
$ 24,948,180
$ 471,253
1,314,357
26,341
1,501,704
878,137
4,191, 792
4,191,792
15, 061,104
267,416
5,427,868
$ 1,605,883 $ 20,756,388
1(15
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, 2008
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
Interest expense
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
Health
Insurance Fund
Insurance Fund
- $ 9,727,543 $
7,873,424
7,873,424 9,727,543
3,118,610
2,845,482
2,786,353
52,296
8,802,741
(929,317)
100
5,115
159,076
39,218
203,509
(725,808)
420,000
(305,808)
15,586,035
$ 15, 280, 227
26,748
40,680
490
9,590,382
246,760
246,760
2,826
39,290
742,641
473
1,710,414
9,658,300 2,495,644
69,243 (2,248,884)
1,498,546
76,538
264,706
1,839,790
69,243 (409,094)
69,243 (409,094)
3,533,619 676,510
$ 3,602,862 $ 267,416
106
Phone Services Total Internal
Fund Service Funds
$ - $ 9,727,543
1,207,374 9,327,558
1,207,374 19,055,101
166,701
19,568
786,889
100,042
63,903
166,701
3,167,752
3,712,341
742,641
2,886,395
117,162
11,300,796
1,137,103 22,093,788
70,271 (3,038,687)
1,498,546
100
- 76,538
5,115
(25,453) 133,623
303,924
(25,453)
44,818
44,818
1,561,065
$ 1,605,883
2,017,846
(1,020,841)
420,000
(600,841)
21,357,229
$ 20,756,388
107
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Internal Service Funds
For the fiscal year ended December 31, 2008
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
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
Grants
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 due from other funds
(Increase) decrease in inventories
(Increase) decrease in other assets
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 (used) by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Capital asset trade-ins
Motor Vehicle
Fund
Health Insurance
Fund
Insurance
Fund
$ 1,049,510 $
6,843,148
(5,906,691)
(117,338)
39,218
100
1,907,947
420,000
420,000
(3,432,433)
547,465
5,115
- $
9,852,941
(9,444,654)
(212,055)
196,232
10,218
243,323
(2,279,060)
264,706
(1,760,813)
1,498,546
1,498,546
(2,879,853) - -
(551,906)
1,537,457
196,232
4,277,628
4,473,860 $ 1,606,448
$ 985,551 $
$ (929,317) $
2,786,353
39,218
100
133,894
108,909
48,613
(63, 873)
(215,950)
2,837,264
76,538
(185,729)
1,792,177
69,243 $ (2,248,884)
4,674
(17,026)
1,925
264,706
(944)
(3,347)
(88,811)
328,911
(12,729)
137,416 285
126,989 488,071
$ J .907.947 $ 190 232 $ x,760 813)
$ 93,436
108
Phone Service
Fund
Total Internal
Service Funds
$ 97,259
1,077,588
(733,065)
(136,744)
(160,720)
144,318
(563,610)
(563,6101
(419,292)
1,352,361
$ 1,156,987
18,017,000
(18,363,470)
(254,082)
(372,775)
303,924
100
487,684
1,498,546
420,000
1,918,546
(3,996,043)
547,465
5,115
(3,443,463)
76,538
$ 933,069 $
$ 70,271 $
100,042
(8,017)
(30,716)
13,770
281
(1,313)
74,047
x44.31$
(960,695)
8,959,623
7,998,928
(3,038,687)
2,886,395
303,924
100
129,607
74,846
31,587
(136,989)
329,192
(229,992)
137,701
$ (25,454) $
$
3,526,371
487 684
(25,454)
93,436
109
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Changes in Assets and Liabilities
Fiduciary Funds
For the fiscal year ended December 31, 2008
Balance Balance
1/1/2007 Additions Deductions 12/31/2007
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
$ 4,528,931 $ 2,362,040 $ 4,321,111 $ 2,569,860
$ 4,528,931 $ 2,362,040 $ 4,321,111 $ 2,569,860
$ - $ 280,121 $ 280,006 $ 115
4,528,931 2,586,037 4,545,223 2,569,745
$ 4,528,931 $ 2,866,157 $ 4,825,229 $ 2,569,860
$ 104,727 $ 20,000,431 $ 20,004,178 $ 100,980
56 992 882 166
$ 104,783 $ 20,001,423 $ 20,005,060 $ 101,146
$ 104,783 $ 20,524,885 $ 20,528,522 101,146
$ 104,783 $ 20,524,885 $ 20,528,522 $ 101,146
$ 30,460 $ 543,688 $ 527,633 $ 46,515
$ 30,460 $ 543,688 $ 527,633 $ 46,515
$ 30,460 $ 46,515 $ 30,460 46,515
$ 30,460 $ 46,515 $ 30,460 $ 46,515
$ 4,664,118 $ 22,906,159 $ 24,852,922 $ 2,717,355
56 992 882 166
$ 4,664,174 $ 22,907,151 $ 24,853,804 $ 2,717,521
$ 135,243 $ 20,851,521 $ 20,838,988 $ 147,776
4,528,931 2,586,037 $ 4,545,223 2,569,745
$ 4,664,174 $ 23,437,557 $ 25,384,211 $ 2,717,521
110
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, 2008
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
Total Nonoperating Revenues
Income(loss) before contributions and transfers
Transfers in
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at end of Year
Original Final
Actual
Variance
$ 7,592,002 $ 8,502,002 $ 9,071,202 $ 569,200
7,592,002 8,502,002 9,071,202 569,200
2,156,555
4,142,635
294,380
531,107
171,691
131,360
3,656,555
4,142,635
294,380
791,107
171,691
131,360
7,427,728 9,187,728
164,274 (685,726)
77,120
8,606
85,726
77,120
8,606
85,726
250,000 (600,000)
850,000
3,570,608
4,236,634
326,879
842,453
221,849
41,640
9,240,063
85,947
(93,999)
(32,499)
(51,346)
(50,158)
89,720
(52,335)
(168,861) 516,865
31,200
10,764
41,964
(45,920)
2,158
(43, 762)
(126,897) 473,103
850,000
250,000 250,000 723,103
2,722,074 2,722,074 2,722,074
473,103
$ 2,972,074 $ 2,972,074 $ 3,445,177 $ 473,103
11i
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, 2008
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
Original Final
Actual
$ 4,000,000 $ 5,740,000 $ 5,223,653
2,300,000 2,300,000 2,649,771
6,300,000 8,040,000 7,873,424
2,032,000
2,042,500
2,300,000
60,000
6,434,500
(134,500)
228,500
100,000
2,532,000
2,542,500
2,560,000
60,000
7,694,500
345,500
228,500
100,000
Total Nonoperating Revenues(Expenses) 328,500 328,500
Income(Loss) before contributions and transfers
Transfers in
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
194,000
194,000
674,000
674,000
3,118,610
2,845,482
2,786,353
52,296
8,802,741
(929,317)
100
5,115
159,076
39,218
203,509
(725,808)
420,000
(305,808)
15, 586,035 15, 586,035 15, 586,035
Variance
$ (516,347)
349,771
(166,576)
(586,610)
(302,982)
(226,353)
7,704
(1,108,241)
(1,274,817)
100
5,115
(69,424)
(60,782)
(124, 991)
1,399,808)
420,000
(979,808)
$ 15,780,035 $ 16,260,035 $ 15,280,227 $ (979,808)
112
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, 2008
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
Variance
$ 8,686,111 $ 10,900,000 $ 9,727,543 $ (1,172,457)
181,000
1,006,665
181,000
1,006,665
7,498,446 9,712,335
8,686,111 10,900,000
26,748
40,680
490
9,590,382
(26,748)
140,320
1,006,665
(490)
121,953
9,658,300 1,241,700
69,243
3,533,619 3,533,619 3,533,619
$ 3,533,619 $ 3,533,619 $ 3,602,862
69,243
$ 69,243
113
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, 2008
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)
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
Actual
Variance
$ 250,000 $ 250,000 $ 246,760 $ (3,240)
500
31,700
555,000
500
1,052,300
1,640,000
(1,390,000)
1,500,000
30,000
40,000
1,570,000
500
31,700
390,000
500
1,902,300
2,325,000
(2,075,000)
1,500,000
80,000
260,000
1,840,000
2,826
39,290
742,641
473
1,710,414
(2,326)
(7,590)
(352,641)
27
191,886
2,495,644 (170,644)
(2,248,884) (173,884)
1,495,851
2,695
76,538
264,706
1,839,790
(4,149)
2,695
(3,462)
4,706
(210)
180,000 (235,000) (409,094) (174,094)
676,510 676,510 676,510 -
$ 856,510 $ 441,510 $ 267,416 $ (174,094)
114
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, 2008
Budgeted
Original Final Actual Variance
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
$ 1,079,414 $ 1,199,414 $ 1,207,374 $ 7,960
156,854
14,500
701,057
143,100
63,903
186,854
14,500
731,057
143,100
63,903
1,079,414 1,139,414
166,701
19,568
786,889
100,042
63,903
20,153
(5,068)
(55,832)
43,058
1,137,103 2,311
60,000 70,271 10,271
(25,453) (25,453)
(25,453) (25,453)
60,000 44,818
1,561,065 1,561,065 1,561,065
(15,182)
$ 1,561,065 $ 1,621,065 $ 1,605,883 $ (15,182)
115
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.
118
123
127
130
132
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
117
COUNTY OF WELD
STATE OF COLORADO
Net Assets by Component
Last Six 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
Note: The County implemented GASB Statement N
government -wide financial data is presented.
2002
2003 2004
$ 253,141,316 $ 247,764,877
3,307,949
3,025,505
1,663,948
27,713,273
3,169,309
3,025,505
1,748,948
26,511,213
$ 288.851.991 $ 282.219.852
$
$
$
$ 289.706.954
2005
2006
2007
2008
$ 238,640,911 $ 231,271,356 $ 233,626,280 $ 249,237,323 $ 253,009,697
4,199,374
3,500,000
1,748,949
30,759,296
4,695,690
4,000,000
1,748,950
39,782,093
$ 278.848.530 $ 281.498.089
941,049 $ 834,285 $
186086) (266,736)
854.963 $ 567.549 $
254,082,365
7,997,402
27,627,187
$ 248,599,162
7,943,762
26,244,477
$ 282,787.401
3,953,450 3,988,022 4,033,041
4,000,000 5,000,000 5,000,000
1,748,951 1,748,951 1,270,613
48,545,826 40,122,962 37,397,773
$ 291.874.507 $ 300.097.258 $ 300.711.124
864,425 $ 809,643 $ 852,705 $ 987,445 $ 1,076,125
141761) 1,508,322 2,118,077 2,191,453 2,776,179
859.664 $ 2.317.965 $ 2.970.782 $ 3.178.898 $ 3.852.304
$ 239,505,336
9,448,323
30,754,535
$ 279,708.194
o. 34 in fiscal year 2002, therefore, only six years of
$ 232,080,999
10,444,640
41,290,415
$ 283,816.054
$ 234,478,985
9,702,401
50,663,903
$ 294.845.289
$ 250,224,768
10,736,973
42,314,415
$ 303276.156
$ 254,085,822
10,303,654
40,173,952
$ 304.563.428
118
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Assets
Last Six Years
(accrual basis of accounting)
Fiscal Year
2002 2003 2004 2005 2006 2007 2008
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
(CONTINUED)
$ 19,978,184 $ 23,618,753 $ 21,174,906 $ 23,047,725 $ 26,641,373 $ 35,301,327 $ 31,019,065
24,079,553 27,827,685 28,425,957 30,449,441 32,562,998 36,717,165 40,496,490
34,283,421 33,353,129 32,688,807 36,919,372 37,068,628 34,637,731 40,795,016
21,721,740 21,404,255 23,538,421 24,843,147 26,179,807 31,026,419 35,117,225
1,036,099 776,322 1,005,697 771,295 1,549,379 1,008,703 1,077,743
11, 079,949 11,411, 322 12,646, 785 13, 736,745 11, 747,943 14,403, 662 14, 601,330
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
6,743,936 8,800,646 9,738,148 6,366,088 7,156,700 8,444,840 9,289,761
$ 119.329-037 $ 127.569345 $ 129,576.775 $ 136,474,224 $. 143,229 121 $ 161,875,618. 5 172,396,630
$ 9,425,679 $ 8,677,015 $ 8,086,983 $ 9,792,423 $ 12,265,623 $ 10,043,033 $ 11,681,170
3,894,565 5,085,767 7,609,527 5,430,422 6,378,749 4,998,285 5,814,979
2,021,319 2,279,939 1,157,634 3,433,713 4,023,310 3,566,774 3,518,926
13, 664,895 11,486, 561 12, 699, 858 13, 664,206 14,949, 936 17, 504, 660 19, 870,091
266,900 1,375 309,948 333,293 345,990 453,352 468,488
922,549 1,576,106 862,223 1,156,012 1,186,129 838,871 756,698
26,156,456 25,963,243 27,124,685 27,885,047 30,045,943 36,500,297 33,134,702
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
6,815,683 8,518,289 10,035,874 7,829,714 7,710,848 8,652,955 9,113,166
63,168,046 63,588,295 67,886,732 69,524,830 76,906,528 87,296,854 84,383,674
(56,232,738) (63,698,693) (61,987,769) (68,413,020) (66,876,741) (74,786,879) (87,836,361)
71,747 1282,357) 297,726 1,458,301 652,816 208,115 (176,595)
$ 156.,100,991) $ (63..981.,060) $_161.,690043,) $ 166.954,719) $ 06223,925) $_ 174,578,764 $ (88.012.956)
119
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Assets
Last Six Years
(accrual basis of accounting)
Fiscal Year
General Revenues and Other Changes in Net Assets
Governmental activities:
Taxes:
Property taxes
Specific Ownership
Other
Unrestricted investment earnings
Donated capital assets
Gain on sale of capital assets
Transfers
Total governmental activities
Business -type activities:
Paramedic service
Total primary government
Change in Net Assets
Governmental activities
Business -type activities
Total primary government
2002
$ 45,233,546
5,467,148
2,376,581
2,052,594
0
10,030
2003 2004
$ 47,532,602 $
5,540,872
2,492,418
1,563,120
0
(94,544)
50,785,919 $
6,795,897
3,333,336
1,644,979
0
(2,358,185)
55,139,899 57,034,468 60,201,946
2005
56,382,533
6,627,991
3,733,025
2,679,442
355,784
2006
2007
2008
$ 62,124,792 $ 67,215,993 $ 72,735,158
6,614,819 7,056,071 7,035,189
5,266,786 3,546,134 5,454,324
4,539,172 5,191,430 4,075,554
7,602 0 0
(1,300,000) (850,000)
69,778,775 77,253,171 83,009,628 88,450,225
(5,057) (5,611) 850,000
$ 55.139.899 $ 57.029,411 $ 60,196,335 $ 69,778,775 $ 77,253.171 $ 83,009,628 $ 89,30Q225
$ (1,092,839) $ (6,664,225) $ (1,785,823) $ 1,365,755 $ 10,376,430 $ 8,222,749 $ 613,864
71,747 (287,414) 292,115 1,458,301 652,816 208,115 673,405
$ 1.1,021,0921 $. 16.951,6391 $. _11,493.,7081 $ 2,824,05Q $,_11.029246 $ 3,430,864 $ 1,287,269
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only six years of government -wide data is presented.
120
COUNTY OF WELD
STATE OF COLORADO
Fund Balances of Governmental Funds
Last Six 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 funds
2002
2003 2004
$ 3,249,297 $ 1,342,369
2,921,157 3,727,307
$ 5.170,454 $ 5.069.67Q
$ 1,516,298
6,699,941
$ 8.216.239
2005 2006
$ 1,486,188 $ 946,073
7,648,920 10,630,592
$ 9,13510$ $ 11576.665
2007
$ 1,081,217
7,007,528
$ 8.088.746
$ 6,984,908 $ 2,666,118 $ 4,139,435 $ 8,834,511 $ 19,019,004 $ 12,074,704
19,512,384
294,482
$ 32.3 962_228
22,023,076
2,830,614
25,360,820
697,779
26,155, 751
3,511,495
25,281,236 27,791,990
0 272,790
s_32.582,48.4 $ 38.414 27 s_41,535.3_65 $ ,55 876.905 s_48.228.22.9
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only six years of government -wide data is
presented.
2008
$ 1,161,271
10,645, 617
$ 11.806.888
$ 12,631,501
25,032, 274
(2,064,635)
$_47.101,92a
121
COUNTY OF WELD
STATE OF COLORADO
Changes in Fund Balances, Governmental Funds
Last Six Years
(modified accrual basis of accounting)
Fiscal Year
2002 2003 2004 2005 2006 2007 2008
Revenues
Taxes
Licenses and permits
Intergovernmental
Fines and forfeitures
Charges for Services
Miscellaneous
Fees
$ 50,771,861 $ 53,080,974 $ 57,698,294 $ 63,261,095 $ 69,178,181 $ 74,627,631 $ 80,182,212
2,205,420 1,760,546 1,834,849 2,119,419 3,188,354 2,129,731 2,089,925
40,511,590 38,299,161 40,652,682 41,110,202 44,982,577 53,886,023 52,887,281
159,246 75,488 69,538 204,530 135,908 416,668 295,246
5,746,678 6,887,469 7,345,819 8,618,819 8,232,213 7,800,131 8,898,865
5,536,066 4,739,386 5,329,931 7,582,510 13,377,598 9,567,707 12,523,751
6,638,831 7,387,204 7,454,831 8,175,907 8,602,079 8,061,587 7,845,617
Total Revenues 111,569,692 112,230,228 120,385,944 131,072,482 147,696,910 156,489,478 164,722,897
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
19,100,208 21,910,296 20,566,315 22,384,671 25,366,204 32,605,930 29,061,657
23,435,572 27,212,371 27,475,345 29,834,629 31,881,427 35,945,956 38,564,419
23,465,325 21,407,821 22,734,695 25,490,667 26,315,156 31,798,757 36,643,514
21,327,335 20,896,282 23,046,109 24,284,817 25,993,962 30,940,641 34,585,229
1,046,374 764,449 1,007,208 775,903 1,550,929 1,011,311 1,077,592
10,892,932 11, 365, 585 12,450,198 13,572, 861 11, 746,242 14,449,197 14,459,482
9,590,948 8,668,934 6,923,230 5,165,931 14,980,649 17,050,592 9,883,207
406,155 377,233 358,054 340,411 322,293 335,771 -
109,264,849 112,602,971 114,561,154 121,849,890 138,156,862 164,138,155 164,275,100
2,304,843 (372,7431 5,824,790 9,222,592 9,540,048 (7,648,677) 447,797
5,144,682 2,482,745
5,144,682 2,482,745
4,299,153
4,299,153
7,436,144
7436,144
11,309,847
12,609,847
4,340,010
4,340,010
4,914,085
6,184,085
(1,300,000) (1,270, 000)
2,304.843 $ (372.7431 $ 5,824,790 $ 9,222.592 $ 8,240,048 $ (7,648,6771 $ (822,2031
0.41% 0.36% 0.33% 0.29% 0.26% 0.23% 0.00%
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only six years of government -wide data is
presented.
122
COUNTY OF WELD
STATE OF COLORADO
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Last Ten Years
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U
COUNTY OF WELD
STATE OF COLORADO
Property Tax Rates Direct and Overlapping Governments
Last Ten Years
Overlapping Rates
Levy Direct City of School Aims Weld
Year County Greeley District 6 College Library
1999 22.040 11.274 49.099 6.250 1.449
2000 22.038 10.635 47.315 6.343 3.249
2001 22.038 11.274 46.974 6.351 3.249
2002 20.559 11.274 50.320 6.620 3.249
2003 20.056 11.274 47.981 6.316 3.249
2004 21.474 11.274 46.453 6.322 3.249
2005 19.957 11.274 44.711 6.328 3.249
2006 17.900 11.274 41.129 6.357 3.281
2007 16.804 11.274 40.760 6.330 3.261
2008 16.804 11.274 36.922 6.308 3.253
The basis for the property tax rates is per $1,000 assessed valuation.
Source: Office of the Weld County Assessor.
COUNTY OF WELD
STATE OF COLORADO
Principal Property Taxpayers
Current Year and Nine Years Ago
Noble Energy Inc
Kerr-McGee Rocky Mountain Corporation
Encana Oil & Gas Inc
Petroleum Development Corp
Public Service Company of Colorado
Petro -Canada Resources (USA) INC
Rocky Mountain Energy Center
Kerr McGee Gathering LLC
Merit Energy
DCP Midstream LP
HS Resources Inc
Patina Oil & Gas Corporation
Eastman Kodak Company
US West Communications Incorporated
Duke Energy Field Services Inc
North American Resources Company
Hewlett Packard
Prima Oil & Gas Company
RR Donnelley & Sons Company
Source:
Weld County Assessor
2008
Taxable
Assessed
Value
$ 644,235,940
465,886,260
146,511,560
114,541,120
90,839,600
89,325,500
74,138,000
53,956,900
53,674,970
50,982,630
$ 1,784,092,480
Percent
Of Total County
Taxable
Assessed
Rank Value
1
2
3
4
5
6
7
8
9
10
14.11%
10.20%
3.21%
2.51%
1.99%
1.96%
1.62%
1.18%
1.18%
1.12%
1999
Taxable
Assessed
Value
Percent
Of Total County
Taxable
Assessed
Rank Value
$ 67,361,300 2
112,716,210
66,141,250
60,711,490
20,638,500
17,216,090
16,074,610
11,580,870
10,943,260
9,380,340
39.07% $ 392,763,920
1
3
4
5
6
7
8
9
10
4.12%
6.89%
4.04%
3.71%
1.26%
1.05%
0.98%
0.71%
0.67%
0.57%
24.00%
125
COUNTY OF WELD
STATE OF COLORADO
Property Tax Levies and Collections
Last Ten Years
Levy Collect
Year Year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
Taxes Levied
for the
Fiscal Year (1)
34,162,938
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
Collected within the
Ficsal Year of the Levy
Tax Percent
Amount (2) of Levy
34,094,225
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
Source:
1) Office of the Weld County Assessor
2) YTD Treasurer's Tax Distribution
3) YTD Treasurer's Tax Distribution 2001 forward
99.799%
99.267%
98.531%
99.743%
99.422%
99.400%
99.425%
99.793%
99.904%
99.719%
Collections Total Collections to Date
in Subsequent Tax Percent
Years (3) Amount (3) of Levy
16,004
92,122
53,693
53,243
99,691
(230,294)
(48,154)
56,265
34,110,229
35, 880, 965
38,329,440
45, 619, 589
48,510,087
52,864,160
59,347,773
64,636,463
70,575,408
74,877,199
Negative values reflect subsequent rebates and adjustments.
99.846%
99.522%
98.669%
99.859%
99.627%
98.969%
99.344%
99.880%
99.904%
99.719%
126
COUNTY OF WELD
STATE OF COLORADO
Direct and Overlapping Governmental Activities Debt
December 31, 2008
Jurisdiction
Cities & Towns
Schools
Special Districts
Total Overlapping
Net General
Obligation
Bonded Debt
Outstanding
$ 99,752,361
836,185,446
119,940,124
1,9_55,877r931
Percentage
Applicable to
Government (1)
82.68%
40.93%
73.11%
Source: Debt outstanding provided by each governmental unit.
Amount
Applicable to
Government
$ 82,471,785
342,273,045
87,693,959
$ 51 .438289
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.
127
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Legal Debt Margin Calculation for Fiscal Year 2008
O CO
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Assessed Value, 2008
Debt Limit 3 Percent of Assessed Value
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Total net debt applicable to limit
136.974.703
134.053.874
126.118.475
108.459.755
89.802.552
74.622.712
72.833.818
66.662.558
52.880.883
49.078.586
Legal debt margin
0
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128
COUNTY OF WELD
STATE OF COLORADO
Private Purpose Revenue Bonds
December 31, 2008
INDUSTRIAL REVENUE BONDS:
TYPE OF
ISSUER FACILITY
Waste Service Corporation Landfill
Waste Service Corporation Landfill
MAK Group, LLC
ISSUE
AMOUNT DATE
$860,000 2/91
2,500,000 2/91
Manufacturing 1,345,000 6/01
Centennial Area Office
Health Education Central
GSSLB Association
Nursing Home
Greeley Center for
Independence, Inc
BSC Hudson
Nursing Home
DEBT
OUTSTANDING
BEGINNING OF YEAR
$245,000
895,000
1,345,000
388,000 5/99 282,779
2,020,000 10/98 1,310,000
Therapeutic 1,650,000 9/03 1,404,185
Center
Manufacturing 5,715,000 10/05
North Range Behavioral Health Office
4,500,000 5/07
TOTAL PRIVATE PURPOSE REVENUE BONDS
5,715,000
4,500,000
$15,696,964
ISSUED RETIRED
$0 $75,000
0 195,000
0 1,345,000
0 16,816
0 115,000
0 64,652
REVENUE BOND
OUSTANDING
END OF YEAR
$170,000
700,000
0
265,963
1,195, 000
1,339,533
0 0 5,715,000
0 0 4,500,000
$1,811,468 $13,885,496
129
COUNTY OF WELD
STATE OF COLORADO
Demographic and Economic Statistics
Last Ten Years
Year
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
Population
174,342
180,936
193,929
202,329
207,120
217,652
221,957
229,377
236,908
244,515
Total
Personal Income Per
($ billion) Capita Income
3.89
4.22
4.36
5.02
5.14
5.38
5.79
5.84
6.23
6.66
22,301
23,016
22,469
24,571
24,279
25,274
25,968
25,495
26,280
27,238
Unemployment
Rate
3.70%
2.70%
4.00%
6.10%
6.70%
5.40%
5.00%
3.80%
4.63%
6.30%
Source: Upstate Colorado in cooperation with University of Northern Colorado
and the State of Colorado demographer.
130
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
State of Colorado (includes UNC )
Weld County Government
US Government
State Farm Insurance Companies
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
2008
Percent
Of Total County
Employees Rank Employment
3250
2700
2400
1701
1490
1400
1310
1160
1015
874
17,300
99,286
116,586
1
2
3
4
5
6
7
8
9
10
Source: Upstate Colorado
Total Employment from Colorado Department of Labor & Employment
2.79%
2.32%
2.06%
1.46%
1.28%
1.20%
1.12%
0.99%
0.87%
0.75%
14.84%
85.16%
100.00%
1999
Percent
Of Total County
Employees Rank Employment
4000
1616
1856
2191
800
1
5
3
2
9
4.82%
1.95%
2.23%
2.64%
0.96%
1317 7 1.59%
700 10 0.84%
1800
1434
1200
16,914
66,148
4
6
8
2.17%
1.73%
1.44%
20.36%
79.64%
83,062 100.00%
131
COUNTY OF WELD
STATE OF COLORADO
Full-time Equivalent County Government Employees by Function/Program
Last Ten Years
CO
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Weld County Human Resources
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contained prevented further hiring.
(2) The demand for welfare and public health care has increased more rapidly with the economic downturn.
132
COUNTY OF WELD
STATE OF COLORADO
Operating Indicators by Function/Program
Last Nine Years
Fu nction/Program
General government:
Motor vehicle registration
Registered voters (1)
Number of votes cast (2)
Percent of registered voters voting
Public safety:
Adult arrests
Juvenile arrests
Average secure jail population
E911 calls
Building Permits
Valuation (thousands)
2000 2001 2002 2003 2004 2005 2006 2007 2008
478,727 294,019
80,041 79,289
65.317 22.422
81.6% 28.3%
305,879 433,188 439,146 462,877 466.777 484,412 493.544
85.161 76245 98.692 99.711 100,924 88.601 116,269
56.730 32.476 89.099 46.327 68.871 30,203 106.518
66.6% 42.6% 90.3% 46.5% 68.2% 34.1% 91.6%
1,457 1,520 1.435 2.738 1.387 1.543 1,574 1.606 1,122
250 220 337 491 218 206 215 224 110
303 298 330 371 402 455 579 628 610
55,807 52.000 84,420 72,396 75276 79,425 92.045 95.524 99.951
2,190 2,180 2.082 1,941 2.012 2.082 1,972 2,000 2.571
$143,856 $148,426 $125,336 $201.442 $132,178 $104,225 $399,473 $100,609 $120,118
Public works:
Miles of road graveled 427 440 440 440 401 401 160 359 312
Snow removal lane miles 1370 1390 1390 1,406 33,710 78.435 125.225 222.703 94.685
Grading lane miles 123.718 131,171 131,171 126,000 175,910 165,681 164,906 135,779 148,324
Miles of Upgrade -Aggregate Surfaced Roads 26 5 5 8 10 0 10 34 52
Culverts (new and repaired) 15" and larger 204 240 240 240 217 217 242 250 252
Tons of asphalt laid 102,221 80.055 80,055 101,243 95.634 95.634 70.421 67.389 67,548
Tons of gravel crushed 490,000 500,000 500,000 510.000 487,477 487,477 408.409 411.582 231,359
Health and welfare:
Social Services Caseload
Patient contacts
Immunizations
Culture and recreation:
Visitors -Missile Park
County Fair Exhibitors
Economic assistance:
Headstart clients
Migrant Headstart clients
Business -type activities:
Paramedic Services
Patients transported
9.900
17,271
15,979
700
9,900
16,207
17.730
9.900
16,207
5.848
9,900
14,601
4,600
12,000
15,000
7,500
14,000
11.000
6,900
14,500
30.440
6,360
15,000
11,880
7,165
15,500
11.500
7.000
700 695 558 575 575 586 595 600
5.000 2,370 2,410 2,410 2.220 2.422 2,326 2,335
524 537 577 641 622 562 562 562 562
250 99 200 146 175 266 266 266 275
6,973
Source: Various Weld County Department records.
Note:
(1) Beginning in 1999 the number of registered voters reflects active voters.
(2) Even years represent general elections, odd years coordinated elections.
6,687 7,027
7,060 7.331
7,284 8,375
8,210 8.866
133
COUNTY OF WELD
STATE OF COLORADO
Capital Asset Statistics by Function/Program
Last Nine Years
Fiscal Year
2000 2001 2002 2003 2004 2005 2006 2007 2008
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
9 9 9 9 10 12 16 16 17
959 997 1,240 1,292 1,292 1,292 1,320
454 454 454 454 386 386 386 386 760
35 36 44 43 42 46 55 55 55
828 857 947 939 1,140 1,229 1,270 1,359
665 665 670 679 671 681 675 670 684
2,490 2,484 2,457 2,438 2,425 2,394 2,387 2,370 2,352
255 254 253 250 252 512 327 492 490
18 18 18 18 18 18 18 18 18
27 27 30 29 30 30 30 30 30
4 4 4 5 6 4 4 4 4
12 12 12 11 11 11 11 11 11
11 11 10 10 10 10 10 11 11
Source: Weld County Department records and Fixed Asset Inventory
Note: Capital Asset statistics have been tracked since 2000 therfore only nine years of statistics are presented
COUNTY OF WELD
STATE OF COLORADO
Insurance in Force
December 31, 2008
Name of Company
Midwest Employers
Casualty Company
Lexington
(Colorado Counties
Casualty & Property
Pool)
Policy
Number
Policy Period
Begins Expires Details of Coverage
ECW005661 01/01/08 12/31/08 Excess Worker's
Compensation
1115700
St. Paul Fire and Marine GP06301937
Insurance Company
(Colorado Counties
Casualty & Property
Pool)
01/01/08 12/31/08
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
$450,000 each claim.
Property: $50,000,000/
occupancy/$500 deductible.
All Liability: $250,000/person;
$600,000/claim.
Excess Liability: (Federal and
Out -of -State Only)
$2,750,000/person 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
$77,631
$271,194
135
COLORADO
Single
Audit
COLORADO
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2008
Expenditure
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EXPENDITURES
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DIRECT FEDERAL GRANTS OR CONTRACTS
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TOTAL DIRECT FEDERAL GRANTS OR CONTRACTS
PASSED THROUGH THE STATE OF COLORADO DEPARTMENT OF HUMAN SERVICES
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SUBTOTAL DEPARTMENT OF AGRICULTURE
137
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2008
Expenditure
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EXPENDITURES
GRANT DESCRIPTION
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138
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SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2008
Expenditure
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12/31/2008
EXPENDITURES
GRANT DESCRIPTION
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TOTAL PASSED THROUGH THE DEPARTMENT OF LOCAL AFFAIRS
PASSED THROUGH THE COLORADO DEPARTMENT OF LABOR
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TOTAL PASSED THROUGH THE COLORADO DEPARTMENT OF LABOR
139
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2008
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12/31/2008
EXPENDITURES
GRANT DESCRIPTION
PASSED THROUGH THE STATE OF COLORADO DEPARTMENT OF HEALTH
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TOTAL PASSED THROUGH THE STATE DEPARTMENT OF HEALTH
140
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2008
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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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