HomeMy WebLinkAbout20083758.tiffn\JTTLODIICIORY
WiDe.
COLORADO
TABLE OF CONTENTS
INTRODUCTORY SECTION
Table of Contents
Letter of Transmittal 1
Government Finance Officers Association Certificate
of Achievement for Excellence in Financial Reporting 9
Organization Chart 10
Principal County Officials 11
FINANCIAL SECTION
Independent Auditors' Report 13
Management's Discussion and Analysis 15
Basic Financial Statements
Government -Wide Financial Statements:
Statement of Net Assets
75
Statement of Activities _ 26
Governmental Fund Financial Statements:
Balance Sheet 28
Reconciliation of Total Governmental Fund Balances to the
Statement of Net Assets 30
Statement of Revenues, Expenditures and Changes in Fund Balance 32
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities _ 34
Proprietary Fund Financial Statements:
Statement of Net Assets - Proprietary Funds 35
Statement of Revenues, Expenses and Changes in Net Assets -
Proprietary Funds 36
Statement of Cash Flows - Proprietary Funds 37
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Assets 38
Statement of Changes in Fiduciary Net Assets 39
Notes to the Financial Statements 40
Required Supplementary Information
Pension Trust 69
Modified Approach for Infrastructure Assets 70
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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
Component Units:
Housing Authority 99
E-911 Authority Fund 100
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
ii
Schedule of Revenues, Expenses and Changes in Fund Equity -Actual and Budget
Enterprise Fund and Internal Service Funds:
Enterprise Fund:
Paramedic Services 111
Internal Service Funds:
Motor Vehicle Fund 112
Health Insurance Fund 113
Insurance Fund 114
Phone Service Fund 115
Weld Finance Corporation 116
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 150
Notes to Schedule of Expenditures of Federal Awards 154
iii
COLORADO
WIlD
June 6, 2008
Hon rable Board of Commissioners
County of Weld
915 10th Street
Greeley, CO 80631
Dear Board Members:
DEPARTMENT tor R€ A CE
AND AD i2NlSTR TION
PHONE (970) 350-4000, EXT.421i3
FAX: (970) 352-0242
P.O. BOX 758
GREELEY, C L ORADO 80632
The Comprehensive Annual Financial Report of the County of Weld, State of
C..lorado for the fiscal year ended December 31, 2007, is hereby submitted.
Responsibility for both the accuracy of the data, and the completeness and fairness
of the presentatit •n, including all disclosures, rests with the County. To the best of
our lsnwledge and belief, the enclosed data is accurate in all material respects and
is reported in a manner designed to present fairiy the financial position and results
of' operations of the various funds and account grups of the County. The
assurance of the accur acy in the County financial report is a result ..r the C unty's
internal controls. The cntrIs have been developed to provide accurate
information on an efficient and cost-effective basis. AU disci *sores necessary to
enable the reader to gain an understanding of the County's financial activities have
been included.
With the December 31, 2007 financial statements, Weld County has elected to
continue a signific, �nt change in government financial reporting. The purpose of
these changes, which were developed by the Governmental Accounting Standards
Board (GABS), is to provide better and more complete information to the users of
gvernnental financial statements. in addition to changes to to basic financial
statements, the statements are now accompanied by a,, introduction, overview, and
analysis, referred to as "Managements Discussion and Analysis" (MD&A). This
litter of transmittal is designed to complement the MDXA and should be read in
conjunction with it. The MD&A can be found in the Financial Section immediately
r Mowing the independent auditor's report.
The County provides the full range of county services contempt ted by statute or
charter. These include general government functions, public protection and safety,
health, sscial services, human resource seices, public improvements, road and
bridge operations, planning and zoning, and general administrative services.
This report includes all activities for which the Board .s County Commissioners is
accuntable 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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significant operational or financial relationships with the County. These include the
Weld County Housing Authority, Weld County Retirement Plan, Beebe Draw 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, 2007, 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.
The South Platte River and its tributaries, the Cache la Poudre, Big Thompson,
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Honorable Board of Commissioners
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 2007 was approximately 226,600.
COUNTY GOVERNMENT
County Services. Weld County provides the full range of services contemplated by State Statute
and the Weld County Home Rule Charter. Services include:
4 Judicial and public safety - consisting of the Sheriff, District Attorney, operation and
maintenance of the detention center, and building inspection.
4 Health, employment, and social services.
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.
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 employs 1258 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 2007, 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 2007:
Completed construction of Phase III of the North Jail.
Recruited and trained staff to open Phase III of the North Jail.
Increased traffic enforcement in Weld County to reduce traffic fatalities.
Coped with the continued growth and development in the County.
Enhanced services at the Southwest Weld County Service Center.
Implemented strategic transportation system to accommodate growth in County's
urbanized areas and use of the transportation impact fees.
Reorganized Code Enforcement and Animal Control into one unit.
Identified technology uses to improAlesseend cost-effectiveness of services.
Enhanced public relations and communication efforts with constituents.
Began updating the Weld County Comprehensive Plan.
Continued implementation of e -government strategy.
Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
Enhanced and expanded services in the Southeast Weld Service Center.
Continued implementation of CBMS system in Social Services.
Contracted to construct Weld County Road 13 from Weld County Road 8 to 5th Street in
Frederick.
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Honorable Board of Commissioners
Monitor West Nile Virus, but no spraying.
Continued to develop plans for the County for bioterrorism and emergency
preparedness.
Coped with growing inmate population.
Funded cost of post -employment benefit for retirees' health program.
Implemented the five-year Support Healthy Marriages Grant.
FACTORS AFFECTING FINANCIAL CONDITION
Economic Conditions and Outlook.
Prior to the credit crisis that began in late 2007 the Weld County economy was continuing its steady
recovery from the 2001 recession. Since 2001 data from the Colorado Department of Labor and
employment shows that Weld County's workforce has grown by 9,050 positions, or a 13% gain. In
the last year alone it rose by 3,185 jobs, or a4.2% increase. Key industries driving employment
growth are service industry, energy, insurance, government, and health services. Average earning
per worker totaled $34,661, a 10.6% increase over last year. However, per capita income for Weld
County was only $24,687. By comparison, The Colorado per capita average was $37,946, and the
U.S. average was $34,586. The poverty rate in Weld County was 10.3%, 10% for Colorado, and
12.5% for the nation in the latest data from the US Department of Commerce.
Population growth in Weld County continues at a robust rate. According to the US Census Bureau's
report released April 4, 2007, Weld County continues to be the second fastest growing metropolitan
area in the country at 3.15% from 2000-2006. A good portion of the reason for that growth
continues to be the Southwest portion of the county along Interstate 25, but another area, the
Interstate 76 corridor with Hudson, Lochbuie, and Keenesburg, is emerging as the next big growth
area. The Greeley area continues in its slowdown as residential housing is over built and little new
construction in being started with the national credit crisis, housing slump, and potential recession.
Although increased energy prices play havoc with the national economy, the energy market offers a
number of positives for Weld County. The county has over 13,500 active oil and natural gas wells,
as a result, Weld County has enjoyed significant growth in this area due to the increase in the
demand for oil and natural gas. Even with Weld County's leadership in fossil fuel extraction we
are excited to also to pursue a leadership role in the renewable energy technologies. To this end in
the last year one ethanol plant has opened and another is under construction. A major wind farm is
being constructed in Northeastern Weld County. Finally, in March, 2007, Vestas Wind Systems
from Denmark announced that it is opening its North American headquarters and manufacturing
plant in Windsor that will make wind turbine blades and employee over 400 people.
The Weld County economic fortunes are still heavily tied to agriculture and manufacturing, which
are vulnerable, especially with the dependence on the relative importance of a few, large
employers. The county continues to attract new employers and existing employers are expanding.
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Honorable Board of Commissioners
The diversity of the local economy away from agriculture has made Weld County much more like
the statewide economy and the metro -Denver area. In the last year Owens-Illinois, Great West
Ethanol, and, Greenlight Energy have opened new major operations in the county. In addition to
these major projects, a number of small new and existing companies are expanding in Weld
County, especially in southwest Weld County. The level of capital investment in Weld County for
new facilities and facility expansions bodes well as an indicator of business confidence in the region
and should create an environment conducive to continued infrastructure development.
For the Future. As Weld County looks to 2008 and beyond a number of challenges face the
Board and staff to meet the ever changing and growing demands of the county's citizens to
maintain the quality of service the citizens have grown to expect from their county government.
Public safety will continues to have a significant impact on future budgets. The impact is from
the growth in the county putting demands on the criminal justice system, plus the public
continued demand for more law enforcement, rigorous prosecution of crimes, and more and
longer incarceration of criminals committing crimes. All of this impacts the court space needs,
District Attorney's Office, the Sheriff's patrol unit, and jail space needs and costs. A tough job for
the commissioners is to determine how much financial support to provide to the criminal justice
system in Weld County balanced against all the other demands for service in the other
functional areas of the county.
Growth in the county has put an ever increasing demand on county services and the county's
infrastructure. The growth has increased the use of county roads and created congestion on
several county roadways that need to be mitigated. Although the county has made tremendous
progress the last twenty years in improving the over all condition of county roads and bridges,
the growth is adding a whole set of new problems. The character of many county roads in the
Greeley -Windsor area and Southwest part of the county have changed from rural roads to
urbanized roads due to the traffic volume demanding a higher capacity and level of service.
Even though the county has increased funding in this area and imposed a traffic impact fee in
these areas, additional investments may have to be made in the future to the keep the
transportation system at an acceptable level.
Besides transportation and public safety the population growth and economic boom have had
other impacts on the county that will continue. The tight labor market has impacted recruitment
and salary levels in several of the county jobs. This adds costs to providing services. Growing
demand for service is being experienced in all of the county departments besides those directly
related to growth, such as Planning and Building Inspection. The growth adds stain to the
services and to the finances of the county, especially with the fiscal constraints of the TABOR
property tax and revenue limitations, and the Weld County Home Rule Charter 5% property tax
growth limit.
All this means that in 2008, and in the future the Weld County Commissioners' primary
consideration in planning any new budget will be identifying available revenues to offset growing
expenditures. Since a third of the county's revenues is from property tax the property tax
revenue limits of TABOR and the Weld County Home Rule Charter will require a prudent
approach to the levels of service that impact expenditures beyond the current budget levels.
Without voters' approval growth from property tax revenues can only be realized if the assessed
value increases, either through reappraisals or new construction that adds properties to the tax
roll. The paradox is that all though growth adds demand for services, continued growth and
economic development is essential for the long term financial viability of Weld County
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Honorable Board of Commissioners
Government and its citizens.
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, 2007, in funding 76.0% 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 $5,450,475 in 2007.
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, 2007, 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 2007 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, 2006. This was the twenty-second 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.
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 2007 annual appropriated budget for the eighteenth consecutive year. In order to qualify for the
Distinguished Budget Presentation Award, the County's budget document was judged to be
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Honorable Board of Commissioners
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 2007 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, 2007. 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.
Respectfully submitted,
I
Donald D. Warden, Director
Finance and Administration
8
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C lorado
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2006
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. -
President
Executive !Director
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COUNTY OF WELD
STATE OF COLORADO
PRINCIPAL COUNTY OFFICIALS
December 31, 2007
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
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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, 2007. 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 $303.3 million at the end of 2007. Of this amount,
$42.3 million may be used to meet the government's ongoing obligations to citizens and
creditors. The remaining $261.0 million is invested in capital assets or restricted by law.
The County's General Fund balance was $8.1 million as of December 31, 2007. Of this amount,
$.90 million is reserved for emergencies, advances, and encumbrances.
The 2007 General Fund balance is $3.5 million lower than in the previous year. The total fund
balance is 11% of 2007 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 not
budgeted any expenditures from fund balance in 2008.
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).
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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, 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, arecombined 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 68 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 98 and 104 through 116 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, 2007, assets exceeded liabilities by $303.3
million.
The following table provides a summary of the County's governmental and business -type net assets
for 2006 and 2007.
17
Table 1
Net Assets
(in Millions)
Governmental Activities Business -type Activities Total
2006 2007 2006 2007 2006 2007
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
$ 148.54 $ 151.10 $ 2.44 $ 2.58 $ 150.98 $ 153.68
239.20 249.24 .85 .99 240.05 250.23
$ 387.74 $ 400.34
$ 3.29 $ 3.57 $ 391.03 $ 403.91
$ 88.74 $ 96.46 $ .32 $ .39 $ 89.06 $ 96.85
7.12 3.79 .00 .00 7.12 3.79
$ 95.86 $ 100.25
$.32 $.39 $96.18 $ 100.64
$233.63 $249.24 $ .85 $ .99 $ 234.48 $ 250.23
9.70 10.73 .00 .00 9.7 10.73
48.55 40.12 2.12 2.19 50.67 42.31
$ 291.88 $ 300.09
$ 2.97 $ 3.18 $ 294.85 $ 303.27
A significant portion of Weld County's net assets (14.0%) represents unrestricted net assets of
$42.31 million, which may be used to meet the County's ongoing obligations to citizens and
creditors.
Another significant portion of the County's net assets (82.5%) 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, 2007 Weld County has no outstanding debt.
An additional $10.73 million of the County's net assets (3.5%) 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 $1.75 million in reserves for insurance claims.
At the end of 2007 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 $8.43 million in 2007. The following table indicates the changes in net assets for
governmental and business -type activities in 2006 and 2007.
18
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 1/1/07
Net Assets 12/31/07
2006
2007 2006 2007 2006 2007
$ 39.15 $ 37.40 $7.71 $8.53 $46.86 $ 45.93
30.05 36.50 0.09 0.12 30.14 36.62
0.00 4.74 .01 0.00 .01 4.74
62.12
11.88
3.25
67.22
10.60
5.19
0.00
0.00
0.00
0.00
0.00
0.00
62.12
11.88
3.25
67.22
10.60
5.19
$146.45 $161.65
$7.81 $8.65
$154.26 $170.30
$ 26.64 $ 35.30 $0.00 $0.00 $ 26.64 $ 35.30
32.56 36.72 0.00 0.00 32.56 36.72
37.07 34.64 0.00 0.00 37.07 34.64
1.55 1.01 0.00 0.00 1.55 1.01
26.18 31.02 0.00 0.00 26.18 31.02
.32 .34 0.00 0.00 .32 .34
11.75 14.40 0.00 0.00 11.75 14.40
0.00 0.00 7.16 8.44 7.16 8.44
$ 136.07 $ 153.43
$7.16 $ 8.44
$ 143.23 $ 161.87
10.38 8.22 .65 .21 11.03 8.43
281.49 291.87
2.32 2.97
283.81 294.84
$ 291.87 $ 300.09
$2.97 $3.18
$ 294.84 $303.27
Governmental Activities. Governmental activities increased Weld County's net assets by $8.22
million in 2007. Key elements of this increase are as follows:
4 Total revenues were $161.65 million, up 10.4% from the prior year, primarily due to property
taxes ($5.1 million) and operating grants ($6.45 million).
4 Expenses totaled $153.43 million. This represents a 12.76 % increase over the previous year.
Increases occurred in most categories due to normal wage and inflation costs, pay-off of the
Certificates of Participation ($5.5 million), 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 2007 by $0.21 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 2007, the combined ending fund balances of County governmental funds was
$47.10 million. Approximately 72% 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 ($6.12 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 ($1.49 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 $8.09 million as of December 31, 2007. Of this
amount, $585,000 is reserved for advances. The 2007 fund balance is $3.5 million lower
than the previous year due dues to normal wage and inflation costs, pay off of the
Certificates of Participation (($5.5 million), road projects and the increased costs of
providing services as a result of the County's growing population. 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 9.2 % of total
2007 expenditures, while total fund balance is 10.8% 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 $21.5 million in fund balance at the end of 2007. This amount was $2.1 million
more than the previous year. 2007 expenditures for road projects were less than budgeted
due to delaying the start of the Weld County Road 13 project, and revenues from highway
user taxes and specific ownership taxes were higher than anticipated.
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 $2.3 million balance at the end of 2007 which is 23% less than 2006. The county
received higher state allocations and thus revenues for TANF and child welfare.
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 2007 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. These are the Island Grove Regional Park parking lot improvements,
completion of the Southeast Weld Service Center and the office building for Information
Services and elections. The $18 million jail expansion project was started in 2006 and was
completed in January, 2008. The fund balance reduction was totally attributed to funding
the new jail expansion and Jail Alternative projects as planned. The encumbrances at year
end are for the jail expansion project and the Jail Alternatives Building.
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 $(3.2 million). The total increase in net assets for the
fund was $.21 million. Other factors concerning the finances of this fund was discussed under
business -type activities.
Weld County has five internal service funds. Information on these funds is aggregated in the
Proprietary Fund financial statements.
GENERAL FUND BUDGETARY HIGHLIGHTS
Comparison of Unreserved Fund Balances as of December 31, 2006 and 2007
18
16
14
12
N
0 10
8
2 6
4
2
0
I
General Fund Public Works Social Human Capital Other Govt.
Services Services Projects Funds
❑ 2006
■ 2007
The County's budget is prepared according to Colorado statutes. The most significant budgeted
fund is the General Fund.
In December of 2006, the Board of County Commissioners appropriated $70.3 million for general
fund expenditures and other financing uses.
21
Revenue and other financing sources
Expenditures and other financing uses
Table 3
2006 General Fund Budget
(in Millions)
Original Budget Amendments Final Budget
$ 65.9 $ 3.2 $ 69.1
Actual
$ 73.1
$ 70.3 $ 5.1
$ 75.4 $ 76.6
During 2007 mid -year budget amendments included:
$2.2 million in transfers and fund balance for jail expansion project
4 $1.0 million transferred to Emergency Reserve Fund to meet TABOR requirement
$0.5million carry over re -appropriation for election equipment
$0.5 million for jail overtime
$0.337 million for inmate medical costs
Reduced Public Health Department subsidy by $0.5 million
$0.537 million for Motor Pool equipment from Energy Impact Grant
$1.1 million for Upstate Colorado Economic Development grant.
Supplementals were made for all departments with vehicles for increased fuel costs.
The increase was possible because of additional unanticipated revenues. Those revenues include
oil and gas mineral leasing ($.5 million), interest earnings ($1.7 million), and severance tax ($.3
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, 2007 totals $250.2 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 4%.
Major capital asset events during the current fiscal year including the following:
c, Road construction or major improvements totaling $10.8 million.
c, Completed Southeast Weld Building $.97 million
4 Completed the construction of a 375 bed jail expansion at an estimated cost of $18 million
Began construction of the Jail Alternative Building of $4.0 million
Completed the new building and Grounds Headquarters at a cost of $.76 million
Completed an additional Social Services Building parking lot $.5 million.
22
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, 2007, 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 $126 million in 2007. The county
currently has no debt subject to the limitation. No new debt was issued in 2007.
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.
Complete construction of Phase III of the North Jail.
Recruit and train staff to open Phase III of the North Jail.
Increased traffic enforcement in Weld County to reduce traffic fatalities.
Cope with the continued growth and development in the County.
Began the project to remodel and open four additional courtrooms.
Reorganized Code Enforcement and Animal Control into one unit.
Identify technology uses to improve services and cost-effectiveness of services.
Enhance public relations and communication efforts with constituents.
Started updating the Weld County Comprehensive Plan.
Continued implementation of e -government strategy.
Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
Enhanced and expanded services in the Southeast Weld Service Center.
Continue implementation of CBMS system in Social Services.
23
Contracted to construct Weld County Road 13 from Weld County Road 8 to 5th Street in
Frederick.
Y
ti
Continued to develop plans for the County for bioterrorism and emergency
preparedness.
Coped with growing inmate population.
Funded cost of post -employment benefit for retirees' health program.
Implemented the five-year Support Healthy Marriages Grant.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of Weld County's finances for all
those with an interest in the government's finances. Questions concerning any of the information
provided in this or for additional financial information should be addressed to the Director of Finance
and Administration, 915 10th Street, Greeley, CO 80631.
24
BASIC
FINANCIAL
STATEMENTS
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
December 31, 2007
Primary Govemment
Governmental
Activities
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
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, net of related debt
Restricted for:
Programs
Emergencies
Claims (Note 7)
Unrestricted
Total net assets
Business -type
Activities
$ 64,075,271 $
74,928,695
3,520,048
2,511,238
174,050
1,799,186
26,298
4,073,022
36,950,726
212,286,597
400,345,131
12,388,377
3,795,981
80,030,032
130,081
112,669
2,244,574
1,546,159
100,247,873
Total
Component Units
Housing
Authority
E-911
Authority
62,975 $ 64,138,246 $ 1,234,020 $ 3,576,494
2,691,114
(174,050)
48,496
938,949
3,567,484
84,561
304,025
388,586
249,237,323 987,445
3,988,022
5,000,000
1,748,951
40,122,962 2,191,453
$ 300,097,258 $ 3,178,898
See accompanying notes to the basic financial statements
74,928,695
6,211,162
2,511,238
1,799,186
26,298
4,073,022
36,999,222
213,225,546
821,392
1,800
580,164
14,471
647,449
403,912,615 2,651,847 4,223,943
12,472,938
4,100,006
80,030,032
130,081
112,669
2,244,574
1,546,159
100,636,459
92,124
1,522
9,069
9,352
24,672
136,739
250,224,768 14,471
3,988,022 580,164
5,000,000
1,748,951
42,314,415
31,023
31,023
647,449
1,920,473 3,545,471
$ 303,276,156 $ 2,515,108 $ 4,192,920
25
COUNTY OF WELD
STATE OF COLORADO
Statement of Activities
Year Ended December 31, 2007
Program Revenues
Primary government:
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
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
$ 35,301,327 $ 10,043,033 $ 1,304,098 $ 5,507
36,717,165 4,998,285 3,998,913 4,733,120
34,637,731 3,566,774 13,213,852
31,026,419 17,504,660 4,149,621
1,008,703 453,352 423,260
14,403,662 838,871 13,410,553
335,771 - - -
am
153,430,778 37,404,975 36,500,297 4,738,627
8,444,840
8,532,227 120,728
$ 161,875,618 $ 45,937,202 $ 36,621,025 $ 4,738,627
$ 2,768,595 $ 16,552 $ 3,167,816 $
912,144 1,569,668
MN
$ 3,680,739 $ 1,586,220 $ 3,167,816 $
GENERAL REVENUES
Taxes:
Property taxes
Specific Ownership
Other
Unrestricted investment earnings
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
$ (23,948,689) $
(22,986,847)
(17,857,105)
(9,372,138)
(132,091)
(154,238)
(335,771)
(74,786,879)
Total
Component Units
Housing E-911
Authority Authority
▪ $ (23,948,689) $
(22,986,847)
(17,857,105)
(9,372,138)
(132,091)
(154,238)
(335,771)
(74,786,879)
208,115 208,115
$ (74,786,879) $
SSP MOO'
MS
MO
O M
208,115 $ (74,578,764) $
$
IMO
IMM
MO
$
▪ $ 415,773 $
67,215,993
7,056,071
3,546,134
5,191,430
83,009,628
8,222,749
291,874,509
$ 300,097,258
208,115
2,970,783
Mb
657,524
▪ $ 415,773 $ 657,524
67,215,993
7,056,071
3,546,134
5,191,430
83,009,628
8,430,864
294,845,292
12,306
12,306
428,079
2,087,029
WM
657,524
3,535,396
$ 3,178,898 $ 303,276,156 $ 2,515,108 $ 4,192,920
COUNTY OF WELD
STATE OF COLORADO
Governmental Funds
Balance Sheet
December 31, 2007
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
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
Public Works
Fund
Social Services
Fund
$ 14,716,783 $ 21,071,909 $ 5,292,732
52,263,964 7,335,311 5,759,592
65,896 9,496 7,986
2,506, 982 478 58,124
65,205 467,727 241,441
216,647 - 1,479,706
585,000 -
152,759 1,269,554
25,013
$ 71,000,771 $ 29,993,394 $ 12,598,140
$ 8,260, 361 $ 416,400 $ 351,053
1,512,894 340,651 127,769
130,081
113,057 276,632 815,914
52,601,534 7,422,767 8,824,646
424,180 -
62,912,026 8,456,450 10,249,463
318,11/15
585,000
25,013
152,759
7,007,528
3,075,254
1,269,554
17,192,136 2,348,677
8,088,745 21,536,944 2,348,677
$ 71,000,771 $ 29,993,394 $ 12,598,140
See accompanying notes to the basic financial statements
28
Human Services
Fund
Capital
Expenditures
Fund
Other
Governmental
Funds
$ 151,581 $ 5,431,945 $ 12,523,721
5,983,984
7,355
40,371
699,022
814,885
301,579
400 - 885
$ 2,007,838 $ 11,423,284 $ 15,191,235
1,994,661
3,034
668,934
$ 231,983 $ 2,421,240 $ 99,098
607,151 - 222,352
59,766
356,328
84,961
1,340,189
5,000
400
662,249
212,139
6,007,355 2,066,121
8,428,595 2,599,710
2,721,899
1,712
885
5,000,000
7,588,928
272,790 -
667,649 2,994,689 12,591,525
$ 2,007,838 $ 11,423,284 $ 15,191,235
Total
Governmental
Funds
$ 59,188,671
73,337,512
93,767
3,274,889
65,205
1,408,190
2,511,238
585,000
1,723,892
26,298
$ 142,214,662
$ 11, 780,135
2,810,817
130,081
1,477,508
77, 278, 751
509,141
93,986,433
6,122, 310
585,000
26,298
1,422, 313
5,000,000
7,007,528
27, 791, 990
272,790
48,228,229
$ 142,214,662
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of Total Governmental Fund Balances To Statement of Net Assets
December 31, 2007
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
$ 48,228,229
234,872,025
(2,357,243)
(1,546,159)
21,357,231
(456,825)
$ 300,097,258
30
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
Year Ended December 31, 2007
REVENUES:
Taxes
Licenses and permits
Intergovernmental
Fines and forfeitures
Charges for services
Miscellaneous
Fees
Total Revenues
EXPENDITURES:
Current:
General government
Public Safety
Public Works
Public health and welfare
Culture and recreation
Economic assistance
Capital outlay
Debt Service
Total Expenditures
Excess of Revenues Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers - in
Transfers - out
Total Other Financing Sources (Uses)
Net Changes in Fund Balance
Fund Balances at Beginning of Year
Fund Balance at End of Year
General Fund
$ 46,428,111
1,621,396
6,299,391
406,762
3,500,152
7,479,167
7,303,131
73,038,110
32,605,930
35,328,953
2,207,902
1,251,550
614,644
712,432
335,771
73,057,182
(19,072)
81,892
3,550,741
(3,468,849)
(3,487,921)
11,576,666
$ 8,088,745
See accompanying notes to the basic financial statements
Public Works
Fund
Social
Services Fund
$ 14,074,897 $ 5,616,950
508,335
14,073,959
1,217,651
1,250,763
612,352
16,137,119
31,737,957 21,754,069
29,590,855
22,390,375
86,675
29,590,855 22,477,050
2,147,102
2,147,102
19,389,842
(722,981)
(722,981)
3,071,658
$ 21,536,944 $ 2,348,677
32
Capital Other Total
Human Expenditures Governmental Governmental
Services Fund Fund Funds Funds
$
$ 5,888,458 $ 2,619,215 $ 74,627,631
2,129,731
13,399,703 400,000 3,575,851 53,886,023
9,906 416,668
638,310 - 2,444,018 7,800,131
211,411 551,467 74,899 9,567,707
- 146,104 - 8,061,587
14,249,424
6,986,029 8,723,889 156,489,478
- - - 32,605,930
617,003 35,945,956
31,798,757
7,298,716 30,940,641
396,667 1,011,311
14,449,197 - - 14,449,197
6,627 16,221,887 22,971 17,050,592
- 335,771
14,455,824
16,221,887 8,335,357 164,138,155
(206,400) (9,235,858)
388,532 (7,648,677)
12,351 500,000 3,745,767 4,340,010
- - 789,269 4,340,010
12,351
500,000 2,956,498
(194,049) (8,735,858) 3,345,030 (7,648,677)
861,698 11,730,547 9,246,495 55,876,906
$ 667,649 $ 2,994,689 $ 12,591,525 $ 48,228,229
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, 2007
Net changes in fund balances - total governmental funds $ (7,648,677)
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
32,576,275
(18,194,594)
14,381,681
(278,530)
(1,546,159)
3,449,037
(134,603)
Change in assets of governmental activities $ 8,222,749
See accompanying notes to the basic financial statements
34
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
Proprietary Funds
December 31, 2007
ASSETS
Cash and short-term investments
Property taxes receivable
Receivables (net of allowance for uncollectibles):
Accounts
Due from other County funds
Inventory
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, net of related debt
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
See accompanying notes to the basic financial statements
Business -type
Activity
Paramedic
Enterprise
Fund
$ 62,975
2,691,114
15
2,754,104
48,496
55,728
710,305
962,920
(790,004)
987,445
3,741,549
84,561
304,025
45,890
585,000
1,019,476
1,019,476
987,445
1,734,628
$ 2,722,073
456,825
$ 3,178,898
Governmental
Activities
Internal
Service Funds
$ 8,959,622
1,497,416
179,954
371,525
75,294
11,083,811
485,897
1,800,977
30,075,262
(17,996,838)
14,365,298
25,449,109
608,242
985,164
256,332
2,242,140
4,091,878
4,091,878
14,365,298
676,511
6,315,422
$ 21,357,231
35
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenue, Expenses and
Changes in Net Assets
Proprietary Funds
For the fiscal year ended December 31, 2007
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)
Nonoperating revenues (expenses):
Taxes
Miscellaneous
Interest income
Fees
Federal grant
State Grant
Gain (loss) on disposition of assets
Judgements and damages
Interest expense
Total nonoperating revenues (expenses)
Income (loss) before contributions or transfers
Capital contributions
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
Business -type
Activity
Paramedic
Enterprise
Fund
$
8,519,367
8,519,367
3,328,501
3,873,871
404,848
654,121
209,580
108,522
8,579,443
(60,076)
100
10,290
43,200
77,528
2,470
133,588
73,512
Governmental
Activities
Internal
Service Funds
- $ 8,821,434
8,282,110
17,103, 544
142,033
2,391,696
3,200,299
585,331
2,821,058
105,001
8,988,608
18,234,026
(1,130,482)
1,254,012
5,925,821
100,622
54,511
1,500,000
(4,591,824)
91,755
(352,793)
3,982,104
2,851,622
597,415
73,512 3,449,037
2,648,561 17,908,194
$ 2,722,073 $ 21,357,231
134,603
$ 208,115
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, 2007
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
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Principal paid on long-term debt
Interest paid
Writeoff of remaining discount
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 (dedrease) in deferred revenue
Total adjustments
Net cash provided 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
Business -type
Activity
Enterprise Fund
Paramedic Services
Governmental
Activites
Internal
Service Funds
5,233,243 $
(937,347)
(478,249)
(3,715,845)
101,802
133,587
133,587
(344,319)
(344,319)
722,693
16,338,769
(14,312,584)
(241,383)
(325,696)
107,481
50
2,289,330
1,254,012
5,925,771
7,179,783
(2,989,175)
(5,590,000)
(352,793)
16,460
484,415
1,554,511
(6,876,582)
100,622
(108,930) 2,693,153
171,905 6,266,469
$ 62.975 $---.049-59-&22
(60,076) $ (1,130,482)
209,580
(171,870)
46,521
5,210
51,349
21,088
161,878
101802
18,315
2,821,058
91,755
50
(321,901)
(142,584)
(56,086)
15,292
281,710
159,412
244,475
326,633
3,419,814
$ 2.289,332
124,428
COUNTY OF WELD
STATE OF COLORADO
Statement of Fiduciary Net Assets
Fiduciary Funds
December 31, 2007
Weld County
Other Post
Agency Weld County Employment
Funds Retirement Plan Benefits
ASSETS
Cash and cash equivalents $ 4,664,118 $ - $ -
Accounts Receivables
(net of allowances for uncollectables): 56 16,059 171,092
Restricted assets
Cash - 1,696,934 678,119
Common Stock - 83,807,904
US Property Fund - 46,901,480
Total assets $ 4,664,174 $ 132,422,377 $ 849,211
LIABILITIES AND NET ASSETS
Accounts payable
Due to other governments
Total Liabilities
NET ASSETS
Held in trust for pension benefits
and other purposes
$ 135,243 $ 169,778 $
4,528,931
$ 4,664,174 $ 169,778 $
See accompanying notes to the basic financial statements
$ 132,252,599 $ 849,211
COUNTY OF WELD
STATE OF COLORADO
Statement of Changes in Fiduciary Net Assets
Fiduciary Funds
For the fiscal year ended December 31, 2007
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
Net assets - ending
$ 3,804,640 $ 1,304,815
3,804,640 203,064
9,822,561
948,830
18,380,671 1,507,879
109,085
7,874,865
9,000
658,668
7,992,950 658,668
10,387,721 849,211
121,864,878
$ 132,252,599 $ 849,211
See accompanying notes to the basic financial statements
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2007
Note 1 - Sunirury of Si gni fi cant 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
servi ces cont empl at ed by statute or charter . These include general
government funct i ons, public protection and safety, health, social
servi ces, human resource servi ces, public improvement s, road and bridge
oper at i ons, pl anni ng and zoni ng, and general admi ni s t r at i ve servi ces .
The financial stat ement s of the County have been prepared in conformity
with generally accepted accounting principles ( GAAP) as applied t o
government al units. The fol l owi ng suimliry of si gni fi cant accounting
policies is presented to assist the reader in evaluating the Count y' s
f i nanci al statements.
A. Reporting Entity:
Veld County is a political subdivision of the State of Col or ado, governed
by an elected five- merrber Board of County Commissioners. There are also
four other elected officials of Veld County (Assessor, Clerk and
Recorder, District Attorney, and Sheriff).
The acconpanyi ng fi nanci al s t 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 governments
operat i ons. Each discretely presented component unit is reported in a
separate column in the gover nrrent - wi de financial st at enent 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 W1d
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 members,
they can modify deci sions ons made by the board and can hire or fire persons
responsible for the day t o day oper at i ons . 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 Ener gency Telephone Service Aut hor i t y Board was cr eat e d 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 pr ovi ding 911 ever gency telephone services. Per the state
statute cited above, the agreement creates a separate legal entity which
is responsible for administering the operations of the 911 energency
40
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
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
nai nt ai ned by the W1 d County Treasurer. The operation of the E911
authority is done contractual 1 y by the W1 d County Cormuni cation Regi onal
Cent er .
Compl et e financial s t at errmnt s for each of the i ndi vi dual component 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
E911 Emergency Telephone Service Aut hor i t y
1950 O Street
Greeley, CO 80631
Because they provide services to or otherwise benefit Veld County, the
financial s t at en'ent s of the following organizations are blended into the
County financial statements :
V�1 d County Retirenent Plan - The Retirenent Board consists of five
members, t vco selected by participating errpl oyees, two appointed by
t he Board of County Conmi 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 all permanent, ful 1 - time enpl oyees of Mel d
County. The operation of the plan is accounted for in the Val d
County Retirenent Fund, as a Pension Trust Fund.
Vel d County Finance Corporation - The W1 d County Fi nance
Corporation ("Corporation") was forned in 1987 as a not -for-profit
corporation under section 501(c)( 4) of the Internal Revenue Code, and
exists solely to acquire real estate and construct buildings for
1 ease to the County. The Board of County Conmi s s i oners appoints the
three- member Board of Direct ors of the Corporation, and approves all
projects undertaken by the Corporation. The nenber s of the Board of
Direct ors are employees of the County.
The Beebe Draw Law Enforcement Authority (LEA) was formed by the
electors of the LEA on December 3, 1985, in accordance with Section
30- 11- 401, CRS. The law enf or cement authority is a taxing uni t
created by the county to provide addi t i onal law enforcement service
by the county sheriff to residents in a developed unincorporated
area of the county. The governing board of the law enforcement
authority is the five Meld County Commissioners sitting as the
governing board of the authority. Law enf or c event services to the
authority are pr ovi ded contractually by the county sheriff.
41
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
The Local Improvement Districts (LID) have not been included in the
County's financial statements i ndi vi dually, as t hey are i mat er i al ,
but are included as a bl ended 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 system, 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 improvements are constructed and as an administrative
subdivision of the count y. Having no board of directors, they do
not operate i n any capacity as an independent government al entity.
The county governing board, Board of County Conmi ssi oners, 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 st 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 rrent s.
forth Color ado ?tdi cal Cent er - The Board of County Commi ssi oners
owns land underlying the main facility of the 1Vhdi cal Center, which
1 and i s current 1 y 1 eased t o the Color ado Hospital Finance Aut hor i t y
as part of the security for financing the bonded indebtedness of the
Ivbdi cal Center. The indebtedness is not an obligation of the Board
of County Commissioners and no taxpayer funds or Board of Count y
Conmi 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
Comri s s i oner s . The Hospital Board of Trustees has entered into an
operating subl ease of the ground and facilities with NCM, Inc. , a
501(c)(3)entity, with three of its nambers also serving on the Board
of Trustees, whi ch, i n t urn, has cont r acted with Banner Heal t h
System to operate the Mdical Center. NCIvC has the ability to
incur its own debt and its operations are financed totally by
patient revenues .
Greeley- W1 d Airport Authority - The County Commissioners 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 f ul 1 aut onomy under Color ado State 1 aw, can i ncur
debt , and funds it operations totally from user fees.
Wld Library District - The County Commissioners, together with the
concurrence of the city counci 1 s of seven part i ci pat i ng
mini ci pal i t i es, appoint the s even- member Library District Board.
The Li br ary 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
to as "CAPP" - CAPP was formed July 1, 1986, by an i nt er government al
42
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
agreement by member counties as a separate and independent
government al and 1 egal entity pursuant t o the provisions of Ar t 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 attended. 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 Comm s s i oner of the
State of Colorado has such authority with respect to the CAPP as is
provided by applicable Colorado statutes .
The purposes of the CAPP are to provide a risk management fund for
defined property and casualty coverage and to assist members in
controlling costs by provi di ng speci al i zed governmental risk
management services and syst t ens .
It is the intent of the members to use member 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 member of CAPP and has been a continuous
member since July 1, 1986.
B. Government -wide Financial Statements:
The Count y' s basic financial s t at events consist of gover nnent - wi de
statements, i ncl udi ng a s at event of net assets and a st at event of
activities, and fund financial statements which pr ovi de a nvr 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 statevent of net assets and the statement of activities display
i of or mat ion about the county as a whole. I n the gover nnent - 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 events.
Governmental activities, which 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, 2007
The governrent-wide statement of activities reflect both the direct
e xpenses and net cost of each function of the County's gover anent 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 Grants and cont r i but i ons that are restricted to meeting
t he operational or capital requirements of a part i cul ar program and
i nt erest earned on grants t hat i s requi red t o be used t o support a
particular program are included i n operating gr ants and cont r i but i ons, or
capital grants and contributions. Revenues which are not classified as
program revenues are presented as general revenues of the County, with
certain United exceptions. The comparison of direct expenses wit h
program revenues i dent i fi es the ext ent t o whi ch each government function
or business segment is self-financing or draws from the general revenues
of the County.
Fund Financial Statements
The financial t r ans ac t i ons of the County are recorded i n individual
funds. A fund is defined as a fiscal and accounting entity with a sel f-
bal anci ng set of accounts that comprise its assets, liabilities, fund
e quity, revenues, and expendi t ur es or expenses, as appropriate. Separate
statements for each fund category - governmental, proprietary, and
fiduciary - are presented. The enphasi s of fund financial stat at ement s is
on nal or government al and enterprise funds, each displayed in a separate
col urm. All r emai ni ng government al and enterprise funds are aggregated
and presented as non- rraj or funds.
Proprietary funds distinguish operating revenues and expenses from
nonoperating i t errs. Operat i ng revenues and expenses generally resul t
from providing services and producing and delivering goods in connection
with a pr opr i et ary fund's principal ongoing oper at i ons . The pr i nci pal
operating revenues of the Paramedic enterprise fund and of the
government's internal service funds are charges to Gust oners 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 gover nment - wi de financial statements are reported using the ec ononi c
e esources measurement focus and the accrual basis of account i ng, as are
t he proprietary fund and fiduciary fund st at enent s. Revenues are
recorded when earned and expenses are recorded at the tine liabilities
are incurred, regardless of when the related cash flows take pl ace.
Nonexchange transactions, in which the County gives (or receives) value
44
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
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 whi ch the taxes are levied. Revenue
from grants and donations is recognized in the fiscal year in which all
e ligibility r equi r event s have been satisfied.
Under the terms of grant agreements, the County funds certain program by
a corrbi nation of specific cost - rei nbursenent grants, cat egori 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 1 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 neasurable
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 thereafter to 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. Expenditures generally ar e
✓ ecorded when a liability is incurred, as under accrual accounting.
However expendi t ur es related t o conpens at ed absences and cl ai my and
j udgnents, are recorded only when paynent i s due.
Property t axes, l i censes, and interest associated with the current fiscal
period are all considered to be susceptible to accrual and so have been
✓ ecognized 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 gover nrrent al and business- type activities and enterprise funds of the
County follow 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 collect i on 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, 2007
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, 1Vhdi cai d, Food St amps, Foster Care pr ogr are,, 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 pr ogr ans are associated 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 al 1
the Head Start programs.
The Capital Expenditures Fund accounts for all the Count y' s
construction projects. The County chooses to use the pay as you go
plan instead of debt . Property t axes are used t o fund the Law
Enf or 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 par anedi c services for the County,
whi ch i s pr i ear i 1 y funded by revenues for services rendered.
46
The
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
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 agenci es of the County on a cost r ei mbur serpent 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 oyment , fleet services, t el ecomuini 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 activities on the gover nnent - wi de s t at event 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 custodial 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 accumul ate resources for pension
benefit , and of her post enpl oyment benefit payments t o qualified
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
the period in whi ch 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 Weld County Treasurer maintains 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 spl 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 equi val ent s".
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, 2007
The County consi der s cash and cash equivalents in proprietary funds to be
cash on hand and denand deposits. In addition, because the treasury pool
is sufficiently liquid to permit withdrawal of cash at any time without
prior notice or penalty, equity in the pool is also deemed to be a cash
e quivalent.
2. Property Taxes:
Property taxes attach as an enforceable lien on property as of January 1.
Taxes were levied on Decenber 19, 2007, and are payable either in two
i ns t al 1 rent s due on February 28 and June 15 or in full on Apr i 1 30. The
bill becomes delinquent on Mr ch 1, My 1, and June 16 and penalties and
interest nay be assessed by the County. The County, through the Wld
County Treasurer, bills and collects its own property taxes, as well as
property taxes of all other taxing authorities within the County. In
accordance with Section 14-7 of the Val d County Home Rule Charter, al 1
ad valorem tax 1 evi es for County purposes, when applied t o the total
valuation for assessment of the Count y, shal 1 be reduced so as t o
prohibit the 1 evyi ng of a greater amount of tax revenue than was levied
from ad valorem taxati i on in the preceding year plus five percent (5q,
e xcept to provide for the payment of bonds and interest. The Board of
County Commissioners may submit the question of an increased levy to the
County Council and, i f in the opinion of a maj or i t y of the County Council
nay grant an increased levy for the County in such annunt as it deers
appropriate, and the County is authorized to rake such increased 1 evy.
Any one capital proj ect requiring a capital expenditure out of funds
procured by ad val or em taxation equal t o a three mi 11 1 evy for three
years, s hal 1 be prohibited unless approved by a raj or i t y vote of the
qualified electors at a general or special election per Section 14-8 of
t he W1 d County Home Rule Charter .
3. Interfund Transactions
Transactions bet vveen funds t hat wooul d be treated as revenues,
e xpenditures, or expenses i f t hey involved organizations external t o the
County are accounted for as revenues, expenditures, or expenses in the
funds involved. Transactions which constitute reimbursements of a fund
for expenditures or expenses initial 1 y made from t hat fund whi ch ar e
proper 1 y applicable t o anot her fund are recorded as expenditures or
e xpenses in the reimbursing fund and as reductions of the expenditure or
e xpense in the fund that is reimbursed. At year end, out s t andi ng
balances between funds are reported as "due t o/ from of her funds".
Interfund balances are generally expected to be repaid within one year of
the financial statement date. Any residual balances outstanding between
the gover nrrent al activities and business- type activities are reported in
the government - wide financial s t at merit s as "i nt ernal balances".
48
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2007
4. Inventories and Prepaid Items
Inventories of government al funds, which consist of expendable mat eri al s
held for consunpt ion, are stated at cost ut i 1 i zi ng the wei ght ed average
cost net hod. These funds fol 1 ow the consumption rant hod of accounting
whereby expenditures are recorded at the tine 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 future accounting
per i ods and are recorded as prepai d it ens in both government - wide and
fund financial statements.
The reserve for ernergenci es as required by Section 20 to Article X of the
Colorado Constitution, also known as the Taxpayer's Bill of Rights
(TABOR) is classified as restricted assets on the balance sheet.
5. Capital Assets
Capital assets, whi ch
infrastructure assets (e. g. ,
reported i n the appl i cabl e
columns in the government -wi de financial st at enent s. Capital assets are
defined by the County as assets with an initial, individual cost of rmre
than $5, 000 and a useful life of rmr a 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
hist t or i cal cost is not available. Donat ed capital assets are recorded at
estimated fair market value at the date of donation.
i nc 1 ude
property,
roads, bridges
governnnnt al or
pl ant equi prnent , and
and similar items), are
business - type activities
The costs of normal maintenance and repairs that do not add to the value
of the asset or materially extend assets' lives are not capitalized.
All reported capital assets, except for gravel roads are depreci at ed.
I rrpr ovemnnt 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 following estimated useful lives:
Bui 1 di ngs
I rrpr ovennnt s
Infrastructure
Infrastructure
Equi prnent
Heavy Equi pmnnt
- Bridges
- Roads
20- 50 year s
20 years
50 years
20 years
3-5 years
10- 20 years
St at enent 34 allows an alternative approach whi ch would reflect a
reasonable value of the asset and the cost incurred t o maintain the
service potential to locally established n>ininum standards in lieu of
depr eci at i on. To elect this option, the County mist devel op and
i irpl enent an asset management syst em which neasures, at least every third
year by class of asset , i f the mini num standards are being maintained.
Related disclosures are additionally required as part of the Required
Suppl ennnt ar y I of or mat i on. 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, 2007
6. Compensated Absences
County enployees accunul ate sick leave and vacation benefits at rates of
8 hours per month and 8 to 16 hours per rmnt h, 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 to January 1, 1985, is paid for 50% of accunul at ed
sick leave hours up to the equivalent of one rmnt h; if the enpl oyee' 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 tine is gr anted
( except for official , professional , and adni ni s t rat i ve positions) at the
rate of one and one- half hours for each overtime hour worked, not to be
accunul 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 -
wide financial statements .
7. Long-term obligations
In the government - wi de financial st at ement s and propri i et ary fund types in
t he fund f i nanci al st at ernent s, 1 ong-term debt and of her 1 ong-ter m
obligations are reported as liabilities in the applicable gover nrrent al
activities, business - type activities, or proprietary fund type statement
of net assets.
8. Fund Equity
In the fund financial statements, governnent al funds report reservations
of fund balance for armunt s that are not available for appropriation or
are legally restricted by outside parties for use for a specific purpose.
Des i gnat i ons of fund balance represent tentative iranagenent plans t hat
are subject to change.
Reserves for the County of Veld are recorded up to the naxinum equity
avai 1 abl e in fund balance and consist of:
Reserved for Encumbrances:
These reserves are est abl i shed t o record purchase orders and
conmi t ment s outstanding for whi ch the related goods/ services have
not been received at year end. The reserves recorded at December
31, 2007, include $318, 445, $3, 081, 966, and $2, 721, 899 for the
General Fund, Special Revenue Funds, and Capital Expenditures Funds,
respectively, for a total of $6, 122, 310.
Reserved for Other Assets:
These reserves are established to record all prepaid itens.
Recorded reserves at December 31, 2007, are $25, 013 and $1, 285 for
the General Fund and Special Revenue Funds respectively, for a total
of $26, 298.
50
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2007
Reserved for Inventories:
These reserves are established to record the total level of supply
i nvent ones. Recorded reserves at December 31, 2007, are $152, 759
and $1, 269, 554 for General Fund and Special Revenue Funds
respectively, for a total of $1, 422, 313.
Reserved for Advances:
These reserves are established to record the total advance between
funds. Reserve at December 31, 2007, is $585, 000, all recorded in
General Fund.
Designated Fund Balance:
Fund balance des gnat ed for subsequent year's expenditures
✓ epresents fund balance comri t ment s for appropriated expenditures i n
e xcess of anticipated revenue for the year ended December 31, 2007.
9. Net Assets
Net assets represent the difference between assets and liabilities. Net
assets invested i n capital assets, net of related debt consists of
capital assets, net of accumulated depr eci at i on, reduced by the
out st andi ng balances of any borrowi ng used for the acquisition
construction of i npr oventnt s of those assets. Net assets are reported as
✓ estricted when there are limitations imposed on their use either through
t he enabling 1 egi s 1 at i on adopted by the County or through external
✓ estrictions imposed by creditors, grantors, laws or regul at i ons of other
government s.
The County first applied restricted resources when an expense is incurred
for purposes for which both restricted and unrestricted net assets are
available.
10. Estimates
The preparation of financial s t at events in conf or ni t y with gener ally
accepted accounting principles requires nanagernent t o make es t i mat es and
assumptions that affect the armunt s reported in the financial st at errent s
and accompanying notes. Actual results may differ from those estinBtes.
Note 2 - St ewar dshi p, Compliance, and Accountability
A. Budgetary information
An annual budget and appropriation ordinance is adopted by the Board of
County Comris s i oner s in accordance with the Colorado State Budget Mt and
Val d County Home Rule Charter . The budget i s prepared on a bas i s
consistent with generally accepted accounting principles . Budgets are
e st abl i shed for all Guyer anent al funds, I at ernal Service funds and the
Enterprise Fund. The accounting syst em i s errpl oyed as a budget ary
management cont r of device during the year t o rani t or the i ndi vi dual
departments. The fund level i s the level of classification at which
e xpenditures may not 1 egal 1 y exceed appropriations, except for the
General Fund where the department 1 evel of expendi t ur es cannot 1 egal 1 y
e xceed appropriations. Dun ng the year, several suppl ernent al
appropriations were necessary. All annual appropriations 1 apse at year
e nd.
51
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
The Director of
budget ed amount s
alter the total
department mist
suppl event al
appr opr i at ion
aceonpanyi ng
appr opr i at i ons.
Finance and Administration
within depart rrent s of
appr opr i at i on for a
be approved by the
appr opr i at i on or di nance.
ordinances
financial
is authorized to transfer
each fund. Any revisions t hat
fund or for any General Fund
County Comri s s i over s through a
During 2007, t wo supplemental
were enact ed. Budget armunt s reported i n the
st at errent s reflect these suppl ernent al
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 errent of Revenue,
Expenditure and Changes in Fund Balance - Budget and Actual. Revenue
were down due to the annexation of a landfill in 2007. 2008 Expenditures
wi l l be adj usted ed to conpens at a for the decreased revenues.
Cons er vat i on Trust Fund (Special Revenue Fund) had excess of expenditures
over appr opri at i ons. These can be seen on the St at ement of Revenue,
Expenditure and Changes in Fund Balance - Budget and Actual. Additional
expenditures to cover the cost of the park were funded by revenues.
Expenditures exceeded appr opr i at i ons i n the Par anedi c Fund (Enterprise
Fund) . The over expenditures were funded greater than ant i ci pat ed
revenue, and wi l l be corrected in the 2008.
1Vbt or Pool Fund ( I nt er nal Service Fund) had excess expenditures over
appr opr i at i ons. These over expendi t ur es were funded by gr eater t han
expected revenue, and wi l 1 be corrected in 2008.
Note 3 - Equity in Pooled Cash and Investment s:
A. Cash and Investments
Cash and investment s at December 31, 2007, consi s t ed of the fol 1 owi ng:
Deposit s
CDs
Investments
Total
$15, 417,437
6, 280, 271
57, 735, 563
$79, 433, 271
Cash and investments at December 31, 2007 reported in gover nrrent - wi de and
agency funds consisted of the fol l owi ng:
Government - wi de
Agency funds
Tot al
$75, 294, 452
3, 808, 127
$79, 102, 579
52
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
B. Deposits
The Colorado Public Deposit Protection Act (PDPA) requires that all 1 ocal
governments deposit cash in eligible public depositories. Eligibility is
det ermi ned by state regulations. The State regul at or commissioners
regulate the eligible public depositories. Armunt s on deposit in excess
of federal insurance levels mist be collateralized by el i gible a col 1 at er al
as det ermi ned by the PDPA PDPA allows the financial institutions t o
create a single collateral pool for all public funds held. The pool is to
be maintained 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,
2007, the County had deposits of $21, 697, 263 col 1 at er al i zed wit h
securities held by the financial i ns t i t ut i ons' agents but not i n the
County name.
C. Investments
The County is required to comply with St ate statutes whi ch specify
invest went instrunants meeting defined rating, maturity, custodial and
concent ration risk criteria in which local governments may invest
i ncl udi ng:
Cbl i gat i ons of the United States and certain U. S. Agency securities
4 Certain international agency securities
General obligation and revenue bonds of U S. local government entities
4 Banker's acceptance of certain banks
4 Conner ci al paper
4 Witten repurchase agreements collateralized by certain authorized
securities
4 Certain rmney market funds
4 Guar ant eed investment cont r act s
4 Local government i nvestment pools
The County has no provisions in its investment policy that would further
1 i mi t investment choices. At December 31, 2007, the County had the
following investmmnts:
Investment Ivhturities (in Years)
1 or less
1 -2 yrs.
3 — 5 yrs.
1Vbney Mir ket
Total
$10, 968, 230
11, 569, 913
35, 197, 420
$57, 735, 563
$15, 417, 437
$73, 153, 000
53
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
D. Credit Risk
State st at ut es unit investments in U.S. Agency securities to the highest
rating issued by nationally recognized statistical rating organizations
(NRSROs) . At December 31, 2007, the County investments in the Federal
Hone Loan Bank, Federal Hone Loan 1Vbr t gage Corporation, Federal National
IVbr t gage Ass oci at i on, and Federal Farm Credit Bank were rated AAA by
Standard & Poor' s.
E. Concentration of Credit Risk
State statute does not I i ni t the amount the County nay invest i n one
issuer. At December 31, 2007, the County's investments i n Federal
Nat i onal Nbr t gage Association, Federal Horne Loan Bank, and Federal Farm
Credit Bank and Federal Hone Nbrt gage represented 11°/9 53% 2% and 25°/9
respectively of the County's total investments.
F. Interest Rate Risk
State Statutes Unit the maxinum naturity date unless an exception is
nude by the county conmi s s i oner s , which does not exist at the present
time, to five years. The average duration in the portfolio on December
31, 2007 was 3. 6 years. This factor combined with the hi gh quality credit
risk of the portfolio lint 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. Local Government Investment Pool
The County had $15, 417, 437 invested in overnight pooled rmney with Wells
Fargo on Decenber 31, 2007. The County's investment in at Wells Fargo is
a direct obligation of the bank and the funds are maintained in a money
market account ear ni ng a negotiated rate if return. The col 1 at er al for
t his account is in an undi vi ded i nt er est agai nst a pool of U S.
Government securities neet i ng the PDPA r equi r ernent s of the State of
Col or ado, which i s admi ni s t er ed under the State's Banki ng Di vision. The
Fair value of all of the funds shares are the sane and are priced at one
dollar and are 1 i qui d dai 1 y. A des i gnat ed custodial bank pr ovi des
safekeepi ng and depository services in connection with the direct
i nvest ment and withdrawal functions. Subs ant i ally all securities owned
are held by the Federal Reserve Bank in the account maintained for the
cust odi al bank. The cust odi an' s internal records identify the invest went s
owned by the par t i ci pat i ng governments.
54
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
Note 4 - I nt er fund Trans actions
Due to/from other funds:
The county reports i nt erfund balances bet veen many of its funds. Some of
the balances are consi der ed i mat er i al and are aggregated into a single
col uma 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 bet ween the dates that (1) i nt er fund goods and services are provided
or rei nbursabl a expenditures occur, (2) transactions are recorded in the
accounting system and (3) payments between funds are made. Int erfund
balances are generally expected t o be repaid within one year of the
financial statement date.
Receivable Fund Payable Fund
General
Social
Hunan
Public Vor ks
Social
Non- M j or
Human Servi ces
Social
Public Works
Servi ces
Service s
Non- Mj or Governmental
Enterprise Fund
Internal Service Fund
General
Servi ces
Cover nnent al
Internal Service Fund
General
Servi ces
Internal Service Fund
Enterprise Fund General
Int ernal
Publ i c
Social
Hunan
Non- lv. j or
Enterprise
Service
General
War ks
Servi ces
Servi ces
Dover nrrmnt al
Fund
$ 48, 975
192, 706
32, 991
111,663
34, 556
10, 469
200
131, 416
97, 096
12, 729
8, 412
466, 820
223, 336
15
68, 062
227, 657
24, 972
26, 320
3, 381
11, 334
$1, 733, 110
55
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2007
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
1Vbdicaid 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 s umtmr i zes the County's transfer activity:
Transfers Out :
General Fund
Non-Nfij or
Tot al
Ctner al
Fund
Tr ansfers
Hunan
Services
00 $
81, 892
In
Non- Nhj or
Capital Governncnt al Total
12, 351 $ 500, 000 $3, 038, 390 $3, 550, 741
00 00 $ 707, 377 $ 789, 269
$ 81, 892 $ 12, 351 $ 500, 000 $3, 745, 767 $4, 340, 010
The County also had noncash transfers . Cont r i but i on of capital asset s
from ( t o) gover nmmnt : I nt er nal Service Funds ( $4, 738, 627) .
Note 5 - All owance for Uncol 1 ect i bl e Accounts Recei vabl e:
The allowance for uncol l ect i bl e receivables consists of the following
at Dec enber 31, 2007:
Fund Type
General
Public Works
Special Revenue
Capi t al Expendi t ur es
Enterprise
Internal Service
Total
Allowance for
Uncol 1 ect i bl e
$ 17, 353
2, 525
2, 840
2, 079
577, 191
371
$ 602, 359
56
COUNTY OF WELD
STATE OF COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2007
Note 6 - Capital Assets:
Capital asset activity for the year ended December 31, 2007, 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
$ 8,114,783
7,453,707
8,570,899
24,139,389
79,217,919
6,976,964
40,412,081
284,555,579
411,162,543
21,768,824
1,734,788
22,839,135
149,759,365
196,102,112
215,060,431
$ 239,199,820
$ 48,496
656,305
55,728
865,002
1,577,035
311,250
43,151
418,425
772,826
804,209
$ 852,705
Increases
$ 151,124
672,000
12,126,429
12,949,553
3,919,832
105,688
4,205, 830
13, 093,523
21,324,873
1,856,248
255,901
3,781, 087
13,379,464
19,272,700
2,052,173
$ 15,001,726
54,000
308,634
362,634
23,141
3,427
183,012
209,580
153,054
$ 153,054
Decreases
138,216
138,216
33,519
2,528,104
10,038,736
12,600,359
Transfers
$
(22,311)
24,756
2,271,652
5,477,944
7,774,352
4,826,007
$ 4,964,223 $
233,027
233,027
214,713
214,713
18,314
Ending
Balance
$ 8,265,907
7,987,491
20,697,328
36,950,726
83,104,232
7,082,652
42,067,496
287,610,366
22,311) 419,864,746
(22,311)
23,600,316
1,990,689
24,326,259
157,660,885
(22,311) 207,578,149
22,311
22,311
22,311
22,311
$ 18,314 $
212,286,597
$ 249,237,323
$ 48,496
710,305
55,728
962,920
1,728,953
334,391
46,578
409,035
790,004
938,949
$ 987,445
57
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2007
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
pri nary
$ 1,376,228
1, 162, 179
13, 570, 466
106, 781
12, 830
223, 158
2, 821, 058
$ 19, 272, 700
Bus i nes s - type activities
Par anedi c Service $ 209, 580
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 11) These activities are accounted for in the Insurance Fund, an
internal service fund. A liability for a claim is established if
i of or mat 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, win 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, 2007
Workers' Compensation coverage is partially self - insured, with insurance
coverage of a $450, 000 self -insured retention. Estimated liabilities 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
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
2006
706, 681
597, 661
(613, 946)
$ 690, 396
2007
$ 690, 396
804, 444
(612, 310)
$ 882, 530
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. Payments to CCAPP for coverage under the insurance pool are shown
as expenses in the Insurance Int ernal 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 cl aim
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 C1 ai rrs - Begi nni ng
Incurred Claims (Includes IBNR's)
Claims Paid
Unpaid Cl a ns - Endi ng
2006 2007
$ 83, 692 $ 120, 486
196, 896 155, 746
(160, 102) (191, 623)
$ 120, 486 $ 84, 609
The Health Insurance Internal Service Fund covers the county' s dental and
vi s i on reimbursement pl an. The plan is not an insurance program but
rat her an empl oyee r ei nbur sement plan t hat closes out each year on
Decenber 31, for services received on or before t hat date. No
out s t andi ng claims or incurred but not reported 1 i abilities exist for
year-end. The health insurance plan is fully insured.
In addition the Health Insurance Internal Service Fund as of January 1,
2005, 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
59
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
t hat has both a rmnt hl y at t achnent point and an annual cumil at i ve
attachment limit with a terminal attachment point. Attachment points are
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 claims 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 pr ovi s i ons and are subject t o annual appropriations.
For the reporting period, rent payments appr oxi mated $507, 234 for all
types of leases. These expenditures were made primarily from the
General, Public Works and Social Services Funds.
Note 9 - Long -Term Debt :
At December 31, 2007 Wld County had no out st andi ng long- term debt or
debt from Cert i f i cat es of Part i ci pat i on( COP) . The COP Series 1997 was
paid off early on August 1, 2007.
Vold County has no general bonded indebtedness . In accordance wit h
Section 30- 35- 201 CRS, 1973, the County's general bonded indebtedness is
limited to 3% of the assessed valuation, or $134, 053, 874 at December 31,
2007.
The County has i s sued industrial revenue bonds for the purpose of
financing capital projects 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 r epayrnent . Industrial revenue
bonds outstanding as of Decenber 31, 2007 totaled $15, 696, 964.
Changes in long-term liabilities
Long -t erm 1 i abi lit y activity for the year ended Decenfier 31, 2007, was as
follows:
Begi nni ng
Bal ance
Governmental activities:
Addi t i ons Reduct i ons
Endi ng
Bal ance
Due Wthin
One Year
Certificates of participation $ 5,590,000 $ 0 $5,590,000 $ 00 $ 00
Compensated absences
General Fund 1, 170, 928 136,412 11, 252 1,296,088 47,620
Public Vbrks 378,853 63,615 0 442,468 26, 1 13
Soci al Services 392, 759 46, 743 0 439, 502 27,437
Public Health 136, 173 43,012 0 179, 185 11,499
Total governmental $ 7.668. 713 S 289.782 $ 5.601 252 $ 2.357. 243 S 112.669
60
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decerrber 31, 2007
Note 10 - W1 d County Ret i r errant 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 Cormi s si oner s. Pl an members
are requi red t o cont ri but a 8% of their annual covered payr of 1 . The
County is required to contribute at an actuarially determined rate; the
current rate is 8% 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 Requi red Cont r but i ons
Interest on net pension obligation
Annual Pension Cost
Cont r i but i ons Trade
Increase in net pension obligation
Net pension obligation (asset) begi nni ng of year
Net pension obl i gat i on (asset) end of year
$ 4, 408, 097
11, 754
4, 477, 927
3, 804, 640
673, 287
872, 872
$ 1, 546, 159
The annual required contribution for the current year was determined as
part of the January 1, 2007 actuarial val uat i on using the entry age
actuarial cost method. The actuarial assurnpti 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 actuarial value of
assets was determined using techniques that smooth the effects of short -
t er m volatility in the rrarket value of investments over a five- year
period. The unfunded actuarial liability is being armor t i zed as a level
per cent age of projected payr of 1 on a cl osed basis . The r ermi ni ng
anvrt i zat ion period at January 1, 2007, was 30 years.
61
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
Three- Year Trend I of or mat i on:
Fiscal Year
Ended
December 31, 2005
December 31, 2006
December 31, 2007
Annual
Pens i on
Cost ( APC)
3, 184, 753
4, 225, 104
4, 477, 927
Per cent age of
APC Cont r i but e d
87.3%
75. 9%
85. 0%
Net Pension
Obligation
(Asset)
(146, 922)
872, 872
1, 546, 159
Note 11 - Ot her Post Enpl oynent Benefits :
Plan Description:
Weld County Ot her Post Enpl oyment Benefits PI an ( OPEB Plan) is a s i ngl e-
e rrployer defined benefit healthcare pl an administered by Vhl d County that
provi des nedi 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 Val d
County Commissioners resolution on November 30, 1998, and amended
December 16, 2002 and Sept enter 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 Ret i r event Plan
and is not a vested benefit or right, but it is a plan that can be
amended or stopped at any tine by the Board of Mal d County Commissioners
for any reason. The program i s only available t o Vhf d County employees
hired prior to October 1, 2005. From Decenter 16, 1998, to December 31,
2008, a retiree who retires from eapl oynent with Val d County after ten
years of servi ce, or was an elected official of Meld County for at least
one full four year term, who has attained the age of 55 years and is
drawing benefits from the Veld County Retirement Plan is eligible to
continue health, dental , and vision cover age unt i 1 age 65. After January
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
e ffective January 2014 an employee mist have attained age 62 and have 20
years of service to be eligible, 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 terms. Coverage ends in all cases
at age 65.
Funding Policy:
The cont r i but i on r equi r ernent s of pl an members and Mel d County ar e
e stablished and nay be amended by the Board of Weld County Commissioners
annually. The required cont r i but i on i s based on proj ect ed pay-as-you-go
financing requirements, with an additional annunt to prefund benefits as
det ermi ned by an actuarial report done bi - annually. For fi s cal year 2007,
the county contributed $1, 298, 539 to the plan, including $449, 328 for
current pr emi uns (appr oxi vat el y 68 per cent of tot al pr eni urns) and an
additional $849, 211 to prefund benefits. Plan members receiving benefits
cont r i but ed $209, 340, or appr oxi mat el y 32 per cent of the total pr emi urns,
t hr ough their required cont r i but i on r angi ng between $126 t o $163 per
rmnt h for retiree- only coverage and between $369 to $443 for retiree and
spouse coverage. The OPEB Plan assets are deposited in the Val d County
OPEB Plan Trust Fund. The enpl oyers cont ri but i ons to the trust fund are
62
COUNTY OF Meld County
STATE OF COLORADO
Year Ended December 31, 2007
irrevocable, the assets of the trust are dedicated to providing benefits
to retirees and their beneficiaries, and the assets are legally protected
formthe m t he enployer's s creditors.
Annual OPEB Cost and OPEB Obligation:
Prior to January 1, 2007, the OPEB Plan was funded on a pay as you go
basis. Beginning January 1, 2007, the county's annual other post
enpl oynent benefit (OPEB) cost (expense) is calculated based on the
annual required contribution of the employer (ARC) , an armunt actuarially
determined in accordance with the par anet er s of GASB Statement 45. The
ARC represents a level of funding that, if paid on an ongoing basis, is
projected to cover nor nal cost each year and armr t i ze any unfunded
actuarial liabilities (or funding excess) over a period not to exceed
thirty years. The primary assumption for the ARC calculation is the 7.5%
discount rate. The actuarial assumptions included an annual healthcare
cost trend rate of 11% initially, reduced by decrements to an ultimate
rate of 5% after 6 years. Liabilities are computed using the projected
unit credit net hod. The unfunded actuarial accrued liability was
amortized over a closed 25 year period. The following 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
obligation to Veld County:
Benefit Obligation and Normal Cost on January 1, 2007
Actuarial Accrued Liability
Retired Employees
Active Employees
Total
Unfunded actuarial accrued liability (UAAL)
Normal cost beginning of year
Amort i zed factor based on 25 years
$ 5, 040, 523
8, 553, 564
$ 13, 594, 087
$ 13, 594, 087
$ 248, 227
11.983
Level Dollar Amortization
Calculation on ARC under Projected Unit Credit Method on January 1, 2007
Arrnrt i zat i on of UAAL over 25 years
Norval cost at beginning of year
Interest
2007 Gross Annual Requi red Contribution (ARC)
Enpl oyee Cont r i but ions
2007 Net Count y ARC
Count y
I ncr eased i n net OPEB obl i gat i on
Contribution
1, 134, 451
268, 227
105, 201
1, 507, 879
(203, 064)
1, 304, 815
(1, 304, 815)
Unfunded actuarial accrued liability (UAAL) beginning of the year $13,594,087
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
Covered Participants as of January 1, 2007
Active Employees
Retired Enployees
Spouses of Ret i red Enpl oyees
Three -Year Trend Information:
Annual Required
Fiscal Year End Cont r i but i on ( ARC)
December 31, 2007 $ 1, 304, 815
775
70
21
866
Per cent age of Net OPEB
ARC Cont r i but ed Obl i gat i on
100% $
Prior to January 1, 2007, the OPEB Plan was on a pay as you go funding
basis. January 1, 2007, was the first tine an actuarial accrued liability
was cal cul at ed t o det ermi ne the net OPEB obl i gat i on. The OPEB obl i gat i on
as of January 1, 2007 was $13, 594, 087, there were no assets on January 1,
2007 to calculate an actuarial value of plan assets.
Funded Status and Funding Progress. The funded status of the plan as of
December 31, 2007, was as follows:
Actuarial Accrued Liability (AAL) $ 13,594,087
Actuarial value of plan assets -
Unfunded actuarial accrued 1 i ability (UAAL)
Funded ratio ( actuarial value of pl an assets / AAL)
Covered payroll (active pl an !renters)
UAAL as percentage of covered payroll
$ 13, 594, 087
0.0%
$ 44, 210, 41 7
30. 7%
Actuarial valuations involve estimates of the value of reported armunt s
and as s umpt i ons about the probability of events far into the future, and
actuarially det er ni ned anuunt s are subject t o continual revision as
actual results are compared to past expect at i ons and new estimates are
made about the future.
The required schedule of fundi ng progress presents nul t i year t r end
i ofornat i on 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 terms of the substantive plan at the t i ne of each valuation and
on the pattern of sharing of costs between the employer and nenber s to
that point and refl l ect a long- t erm perspective.
The Wl d County OPEB Plan Assets are accounted for in the W1 d County
OPEB Pl an Trust Fund. A I RC Section 115 Trust i s being est abl i shed for
the Wl d County OPEB Plan Trust and IRS approval is pendi ng.
64
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
Note 12 - Comri t Trent s and Contingencies :
Conmitments
At year - end t here were pr of ect s under construction with commitments of
$2, 721, 899 including $2, 502, 950 for the Alternative Pr ogr arcs bui l di ng,
$54, 660 for the Jail Phase III, $9, 310 for the Court Services Phase III,
$50, 446 for the Bui 1 di ngs and Grounds adni ni s t rat i on bui 1 di ng and
$104, 533 for the parki ng lot at the south Social Services building.
Colorado voters passed an amendment to the State Constitution, Article X
Section 20, which has several limitations, including revenue raising,
spending abilities, and other specific requirement s of state and local
government s. The Amendment i s compl ex and subj ect t o j udi ci al
interpretation. The entity believes it is in compliance with the
r equi r errent s of the amendment . However , the entity has made c er t ai n
i nt erpr et at i ons of the amendments 1 anguage i n of her t o det ermi ne i t s
compl i ance.
The County participates i n a number of federal and state grant pr ogr ans .
Pr nci pal fundi ng agencies include Department of Labor, Cormuni t y
Services Admi ni strati on, Department of Health and Human Services,
Depart rent of Housing and Urban revel opment , Economi c revel opment Agency,
and Area Agency on Aging. These prograns are subj ect to program
compl i ance audits by the grant ors or their represent at i yes. The amaunt ,
if any, of expenditures which nay be di s al 1 owed by the granting agencies
cannot be det erni ned at this time, alt hough the County expects such
armunts, if any, to be inimterial.
65
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
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, 545, 319
3, 722
1, 541, 597
1,608,702
1, 572, 105
The Public Trustee st art ed a retirement pl an i n 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/ Errpl oyee
Enpl oyer/ Enpl oyee
Code section
plan
66
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2007
Note 14 - Non -Cash Activity in Social Services Fund
Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures
For the Year Ended December 31, 2007
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
3,780,165 10,120
148,272
3,928,437
158,392
Low -Income Energy
Assistance Program
1,526,080
0
134,706 1,660,786
134,706
Temporary Assistance for
Needy Families
1,384,430 210,785
2,580,394 2,964,824
2,791,179
Administration
0 0
5,636,7.53
5,636,753
5,636,753
Trails/Child Welfare
10,577,946 1,84
1 ,797 8,009,
064 18,587,010
9,850,861
Core Services
1,255,517 151,046
94,431
1,349,948
245,477
Aid to the Needy Disabled
690,301 110,402
(59,593)
630,708
50,809
IV -D Administration
0
0
2,509,298 `,509,298
2,509,298
CHATS/Child Care
3,061,824 2
75,622 643,533
3,705,357
1,019,155
General Assistance
0
0
135,564 135,564
135,564
Subtotal
22,276,263 2,699,772
19,832,422 L2,108,685
22,532,194
Food Assistance
13.247.138
0
(55,144) 13,191,994
(55,144)
Grand Total
35,523,401 `,699,772
19,777,278 55,300,679
22,477,050
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
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2007
Schedule of Fundi ng Progress
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]
1/1/01
$ 81, 331,
388
$ 84,
625,
354
$ 3,
293,
966
96. 1%
$30,
909,
895
10.
7%
1/ 1/ 02
$ 87, 357,
656
$ 93,
322.
664
$ 5,
965,
008
93. 6%
$33,
405,
430
17.
9%
1/1/ lis 87,
140, 219
$100,
581,
108
$13,
440,
889
86. 6%
$36,
205,
613
37.
1%
1/1/0X 94,
496, 804
$112,
901,
278
$18,
404,
474
83. 7%
$36,
498,
310
50.
4%
1/ 1/ 0$e5 98,
604, 182
$120,
956,
120
$22,
351,
938
81.5%
$38,
496,
866
58.
1%
1/ 1/0$"103,
179, 296
$136,
792,
785
$32,
813,
489
76. 0%
$41,
529,
717
79.
0%
1/ 1/ 091 12,
874, 087
$150,
145,
842
$37,
271,
755
75.2%
$44,
210,
410
84.
3%
Schedule of Employer Cont r i but i ons
Annual
Year Ended Requi red
Decerrber 31 Cont r i but i one')
Actual Percent age
Cont r but Cont ri but ed
2000$1, 199, 689
2001$1, 591, 067
2002$1, 986, 145
2003$2, 734, 414
2004$3, 125, 337
2005$4, 236, 858
2006$4, 236, 858
2007$4, 408, 097
$1, 814, 318
$1, 925, 094
$2, 094, 969
$2, 182, 671
$2, 234, 518
$2, 779, 636
$3, 205, 310
$3, 840, 640
("Requi red cont r i but i on at begi nni ng of year.
151. 2%
121. 0%
105. 5%
79. 8%
71.5%
86. 1%
65. 6%
87. 1%
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.
2007
Condition Miles of Road % of Total
Good 1,698.51 71.95%
Fair 617.61 26.16%
Poor 44.53 1.89%
Comparison of Estimated -to -Actual Maintenance/Preservation
2004 2005 2006 2007 2008
Estimated $ 1,643,167 $ 1,800,000 $ 1,861,200 $ 3,328,512 $ 2,666,172
Actual $ 1,785,000 $ 2,910,000 $ 1,804,000 $ 1,892,000
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, 2007
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
Total Miscellaneous
Original Final
48, 245, 705
25,000
85,000
(2,287,896)
46,067,809
5,000
1,000,000
900,000
130,000
2,035,000
4,000
3,008,305
29,890
261,000
3,303,195
350,000
2,432,339
108,400
31,000
2,921,739
2,500
149,000
151,500
1,203,464
2,750,000
136,918
300,000
4,390,382
48,245,705
263,700
85,000
(2,287,896)
46,306,509
5,000
1,000,000
900,000
130,000
2,035,000
44,877
4,000
3,483,205
29,890
211,000
3,772,972
350,000
2,869,339
108,400
31,000
3,358,739
2,500
179,000
181,500
1,252,310
3,830,000
136,918
570,000
5,789,228
Actual
48,259,700
262,841
109,680
83,786
(2,287,896)
46,428,111
5,383
730,685
689,638
195,690
1,621,396
851,728
1,750
5,137,098
129,248
179,567
6,299,391
250,895
3,077,424
145,396
26,437
3,500,152
274,759
132,003
406,762
2,032,375
4,498,591
122,651
825,550
7,479,167
Variance
13,995
(859)
24,680
83,786
121,602
383
(269,315)
(210,362)
65,690
(413,604)
806,851
(2,250)
1,653,893
99,358
(31,433)
2,526,419
(99,105)
208,085
36,996
(4,563)
141,413
272,259
(46,997)
225,262
780,065
668,591
(14,267)
255,550
1,689,939
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, 2007
Budget - GAAP Basis
REVENUES (CONTINUED)
Fees:
Fee account
Treasurer's fees
Cable fees
Total Fees
Original Final
6,827,000
58,000
45,000
6,930,000
Total Revenues 65,799,625
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
Capital
Computer Services
Printing and Supply
Total General Government
(CONTINUED)
617,827
714,695
7,000
1,635,291
254,121
792,712
1,059,946
1,546,771
799,051
2,418,714
3,964,343
28,746
4,291,027
146,444
433,174
13,000
297,377
512,967
130,169
632,468
294,118
2,010,034
279,057
22,879,052
7,409,000
58,000
60,000
7,527,000
68,970,948
677,327
738,695
7,000
1,687,291
291,121
905,712
946,946
1,546,771
919,351
2,505,714
4,551,343
28,746
4,314,027
161,644
44,877
469,174
25,800
13,600
42,000
322,377
636,967
134,669
854,468
197,118
3,060,034
344,557
25,427,329
Actual
7,199,470
50,191
53,470
Variance
(209,530)
(7,809)
(6,530)
7,303,131 (223,869)
73,038,110 4,067,162
656,956
688,264
1,687,157
287,420
785,292
927,856
1,537,435
914,402
2,526,576
4,276,445
19,707
4,173,809
162,473
59,934
1,128,964
11,523
4,031
40,496
143
308,266
640,642
134,453
851,562
123,059
15,174
3,219,303
301,213
20,371
50,431
7,000
134
3,701
120,420
19,090
9,336
4,949
(20,862)
274,898
9,039
140,218
(829)
(15,057)
(659,790)
14,277
9,569
1,504
(143)
14,111
(3,675)
216
2,906
74,059
(15,174)
(159,269)
43,344
25,482,555 (55,226)
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, 2007
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
West Nile
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
(CONTINUED)
Original Final
1,398,410
6,347,584
1,096,328
169,615
219,114
1,918,290
700
839,148
568,512
16,204,744
2,375,343
1,281,232
119,354
11,367
317,227
452,875
102,170
33,422,013
1,775,872
393,933
64,893
17,474
2,252,172
135,875
46,125
12,500
100,000
8,750
303,250
1,462,410
6,659,584
1,247,974
169,615
187,614
1,918,290
5,000
700
879,148
584,012
15,889,744
2,375,343
1,631,232
122,354
11,367
377,227
469,875
3,200
134,170
34,128,859
1,705,872
399,933
64,893
219,074
2,389,772
95,875
46,125
12,500
1,100,000
8,750
1,263,250
Actual
1,496,646
7,040,759
1,123,170
30,171
128,619
149,281
1,856,091
5,754
159
738,160
625,366
16,374,416
2,341,874
1,550,381
121,064
9,019
337,370
461,376
3,108
132,054
12,130
Variance
(34,236)
(381,175)
124,804
(30,171)
40,996
38,333
62,199
(754)
541
140,988
(41, 354)
(484,672)
33,469
80,851
1,290
2,348
39,857
8,499
92
2,116
;12,130;
34,536,968 (408,109)
1,541,786
386,566
61,394
218,156
164,086
13,367
3,499
918
2,207,902 181,870
91,875
46,125
12,500
1,092,300
8,750
1,251,550
4,000
7,700
11,700
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, 2007
Budget - GAAP Basis
EXPENDITURES (CONTINUED)
Culture and Recreation:
Missile site park
Parks and Trails
County fair
Total Culture and Recreation
Miscellaneous:
Other
Building rents
Total Miscellaneous
Capital Outlay:
Capital purchases
Debt Services:
Capital lease
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
Original Final
68,975
32,000
318,546
68,975
34,000
318,546
419,521 421,521
1,248,415
5,756,500
1,480,415
5,722,500
7,004,915 7,202,915
1,326,000
301,293
1,200,100
301,293
67,908,216 72,335,039
81,892
2,550,741
(2,468,849)
(4,577,440)
11,576,666
81,892
3,050,741
Actual
57,555
34,000
523,089
Variance
11,420
(204,543)
614,644 (193,123)
2,197,467
5,717,893
(717,052)
4,607
7,915,360 (712,445)
712,432 487,668
335,771
(34,478)
73,057,182 (722,143)
81,892
3,550,741 (500,000)
(2,968,849) (3,468,849) (500,000)
(6,332,940) (3,487,921) 2,845,019
11,576,666 11, 576, 666
$ 6,999,226 $ 5,243,726 $ 8,088,745 $ 2,845,019
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, 2007
Budget - GAAP Basis
REVENUES:
Taxes:
General property taxes
Specific ownership taxes
Penalties & Interest
Total Taxes
Licenses and Permits
Moving permits
Intergovernmental:
Mineral leasing
Grazing act
Payment in lieu of taxes
Grants
Motor vehicle registration fees
Highway user tax fund
Total Intergovernmental
Charges for Services:
Charges for services
Miscellaneous:
Earnings on deposits
Special assessments
Miscellaneous
Total Miscellaneous
Fees:
Other fees
Total Revenues
Original Final
7,004,703
6,600,000
13,604,703
300,000
150,000
80,000
20,000
4,448,000
340,000
7,900,000
12,938,000
3,187,000
3,187,000
30,029,703
7,004,703
6,600,000
13, 604, 703
400,000
150,000
80,000
20,000
4,448,000
340,000
7,900,000
12, 938, 000
3,287,000
3,287,000
30,229,703
Actual
7,008,030
7,054,652
12,215
14,074,897
508,335
153,051
85,199
15,204
5,064,770
341,898
8,413,837
14,073,959
1,217,651
133,259
7,369
1,110,135
1,250,763
612,352
31,737,957
Variance
3,327
454,652
12,215
470,194
108,335
3,051
5,199
(4,796)
616,770
1,898
513,837
1,135,959
1,217,651
133,259
7,369
(2,176,865)
(2,036,237)
612,352
1,508,254
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, 2007
Budget - GAAP Basis
EXPENDITURES
Public Works
Bridge construction
Maintenance of condition
Maintenance support
Trucking division
Mining division
Administration
Pavement Management
Other public works
Total Public Works
Intergovernmental:
Grants-in-aid to cities/towns
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
3,201,229
4,148,531
2,209,243
2,828,507
2,678,066
809,771
20,884,891
36,760,238
1,494,595
38,254,833
(8,225,130)
19,389,842
$ 11,164,712
3,351,229
4,674,531
1,305,547
3,279,507
2,204,066
872,771
998,696
21, 084, 891
37,771,238
1,494,595
39,265,833
(9,036,130)
19,389,842
$ 10,353,712
Actual
3,289,043
5,840,578
1,230,755
3,254,862
1,975,660
1,195,311
828,544
10,641,062
28,255,815
1,335,040
29,590,855
2,147,102
19,389,842
Variance
62,186
(1,166,047)
74,792
24,645
228,406
(322,540)
170,152
10,443,829
9,515,423
159,555
9,674,978
11,183,232
$ 21,536,944 $ 11,183,232
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, 2007
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Intergovernmental:
Welfare
Total Revenues
EXPENDITURES
Public Health and Welfare:
Administrative - regular
Administrative - IV -D
Food stamps
Employment first
General assistance
TANF
AND - State
Child welfare
Day care
Medicaid transportation
Original Final
Actual
Variance
$ 5,600,000 $ 5,600,000 $ 5,607,217 $
5,600,000 5,600,000
18,914,673 18,914,673
24,514,673 24,514,673
7,002,907
2,279,629
1,156,276
190,000
3,153,000
76,000
9,692,500
1,053,000
7,002,907
2,279,629
1,156,276
190,000
3,153,000
76,000
9,692,500
1,053,000
9,733
5,616,950
16,137,119
21,754,069
3,840,050
2,509,299
(55,144)
1,709,580
135,563
2,791,179
50,809
9,850,863
1,019,156
444
7,217
9,733
16,950
(2,777,554)
(2,760,604)
3,162,857
(229,670)
55,144
(553,304)
54,437
361,821
25,191
(158,363)
33,844
(444)
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, 2007
Budget - GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED):
OAP - A
Core services
Administrative - LEAP
LEAP - Program
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
175,000 175,000 158,394 16,606
280,000 280,000 245,476 34,524
181,700 181,700 136,574 45,126
(1,868) 1,868
25,240,012 25,240,012
155,000 155,000
25,395,012 25,395,012
(880,339) (880,339)
22,390,375 2,849,637
86,675 68,325
22,477,050 2,917,962
(722,981) 157,358
3,071,658 3,071,658 3,071,658
$ 2,191,319 $ 2,191,319 $ 2,348,677 $ 157,358
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, 2007
Budget - GAAP Basis
REVENUES
Intergovernmental:
Federal grants
State grants
Total Intergovernmental
Charges for Services:
Charges for services
Total Charges for Services
Miscellaneous:
Donations from private sources
Other revenue
Total Miscellaneous
Total Revenues
EXPENDITURES
Economic Assistance:
Human resources general fund
Head start
Migrant head start
Colorado Works
Preschool program
Building Health Marriages
FENWC carryover
Job service
Summer job hunt
Jobs/New directions
Employment first
Summer of service
TANF
WIA administration
WIA adult programs
WIA youth programs
WIA Rapid Response/DW
JTPA IIB
10% Discretionary Grant
WIA planning
WIA statewide activities
WIA dislocated worker
Human resources lab pool
UI training program
Original Final
$ 10,128,459
1,946,490
$ 12,247,749
1,946,490
12,074,949 14,194,239
566,910
566,910
155,000
155,000
12,796,859
566,910
566,910
155,000
155,000
Actual
Variance
$ 12,056,411 $ (191,338)
1,343,292 (603,198)
13,399,703 (794,536)
638,310
638,310
167,116
44,295
211,411
14,916,149 14,249,424
71,400
71,400
12,116
44,295
56,411
(666,725)
- - 78,493 (78,493)
2,987,432 3,073,732 3,034,820 38,912
2,229,423 2,381,923 2,364,515 17,408
- 60,000 59,139 861
147,500 147,500 168,355 (20,855)
- 50,000 43,538 6,462
- 810,000 928,272 (118,272)
569,800 630,000 672,606 (42,606)
31,000 31,000 32,999 (1,999)
43,000 47,000 47,654 (654)
148,800 150,800 150,368 432
8,000 (8,000)
732,800 732,800 646,031 86,769
121,000 135,000 151,943 (16,943)
301,200 521,200 561,098 (39,898)
437,000 437,000 371,920 65,080
- 13,900 13,825 75
41,600 47,000 52,912 (5,912)
26,500 26,270 230
93,000 100,000 28,932 71,068
62,000 62,000 - 62,000
350,600 590,000 550,133 39,867
286,000 420,000 443,648 (23,648)
198,800 198,800 174,728 24,072
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, 2007
Budget - GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED):
One stop
Family support program
AAA administration
OAA title III -B
OAA title III -C1 congregate
OAA title III -C2
OAA in home support
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
Capital Outlay:
Human resources general fund
Total Capital Outlay
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
OAA area agency
Total Other Financing Sources
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
200,500 200,500 193,781 6,719
- 35,000 31,277 3,723
66,850 66,850 72,390 (5,540)
226,310 226,310 189,165 37,145
382,830 382,830 364,948 17,882
42,000 42,000 44,168 (2,168)
14,980 14,980 9,881 5,099
2,190 2,190 855 1,335
5,340 5,340 5,111 229
645,340 645,340 688,115 (42,775)
128,590 203,590 144,577 59,013
- - 4,246 (4,246)
7,470 (7,470)
5,462 (5,462)
26,090 26,090 6,433 19,657
36,000 34,562 1,438
232,460 232,460 251,297 (18,837)
46,910 135,000 71,703 63,297
1,679,180 1,679,180 1,445,448 233,732
78,810 78,810 56,643 22,167
269,130 269,130 211,466 57,664
12,828,465 14,947,755
14,449,197 498,558
- 6,627 (6,627)
- 6,627 (6,627)
12,828,465 14,947,755
12,351
12,351
(19,255)
861,698
14,455,824 491,931
12,351 12,351
12,351 12,351
(19,255)
861,698
(194,049)
861,698
(174,794)
$ 842,443 $ 842,443 $ 667,649 $ (174,794)
COLORADO
Supplemental Information
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2007
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.
Bebee Draw Law Enforcement Fund
This fund 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, 2007
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.
Weld Finance Corporation:
This fund acquires real estate and constructs buildings for the use of County departments.
84
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2007
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, 2007
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, 2007
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
Inventories
Other assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Accrued liabilities
Due to other County funds
Unearned revenue
Total Liabilities
Fund Balances:
Reserved for encumbrances
Reserved for other assets
Reserved for emergency
Unreserved:
Designated for future year's expenditure
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
$ 197,987 $ 5,457,600 $ 5,000,000
1,994,661
3,034
$ 197,987 $ 7,455,295 $ 5,000,000
$
197,987
$ - $
2,003,034
2,003,034
5,452,261
5,000,000
197,987 5,452,261 5,000,000
$ 197,987 $ 7,455,295 $ 5,000,000
88
Public Health Solid Waste
Fund Fund
Bebee Draw
Law
Enforcement
Fund
$ 922,188 $ 945,847 $
626,060
885
42,874
$ 1,549,133 $ 988,721
Total
Nonmajor
Governmental
Funds
99 $ 12,523,721
$
1,994,661
3,034
668,934
885
99 $ 15,191,235
$ 96,149 $ 2,949 $
222,352
114,590 97,549
63,087
496,178
1,712
885
1,050,358
100,498
594,269
293,954
1,052,955 888,223
99
99
$ 1,549,133 $ 988,721 $
99
$ 99,098
222,352
212,139
2,066,121
2,599,710
1,712
885
5,000,000
6,046,530
1,542,398
12,591,525
$ 15,191,235
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, 2007
Conservation Contingent Emergency
Trust Fund Fund Fund
REVENUES:
Taxes:
Taxes
Intergovernmental
Charges for services
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety
Public health and welfare
Culture and recreation
Capital outlay
Total Expenditures
Excess of Revenues Over (Under)
Expenditures
Other Financing Sources (Uses):
Transfers - In
Transfers - Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
$
423,260
8,113
$ 2,603,533 $
431,373 2,603,533
396,667
396,667
34,706 2,603,533
1,000,000
1,000,000
34,706 2,603,533 1,000,000
163,281 2,848,728 4,000,000
$ 197,987 $ 5,452,261 $ 5,000,000
90
Public Health Solid Waste
Fund Fund
$
3,152,591
1,295,755
76,692
4,525,038
7,298,716
22,971
7,321,687
(2,796,649)
2,745,767
2,745,767
(50,882)
1,103,837
$
1,148,263
1,148,263
601,128
601,128
547,135
789,269
(789,269)
(242,134)
1,130,357
Bebee Draw
Law
Enforcement
Fund
$ 15,682
15,682
15,875
15,875
(193)
Total
Nonmajor
Governmental
Funds
$ 2,619,215
3,575,851
2,444,018
84,805
8,723,889
617,003
7,298,716
396,667
22,971
8,335,357
388,532
3,745,767
789,269
2,956,498
(193) 3,345,030
292 9,246,495
$ 1,052,955 $ 888,223 $ 99 $ 12,591,525
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, 2007
Budgeted
REVENUES
General property taxes
Penalties & interest
Total Taxes
Grant
Fees
Earnings on deposits
Total Revenues
EXPENDITURES
Capital Outlay:
Buildings
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
General Fund
Total Other Financing Sources
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund balance at End of Year
Original Final
Actual
Variance
$ 5,875,000 $ 5,875,000 $ 5,878,117 $
5,875,000
400,000
100,000
6,375,000
18,256,403
18,256,403
(11,881,403)
11,730,547
$ (150,856)
5,875,000
2,000,000
400,000
100,000
8,375,000
20,756,403
20,756,403
500,000
500,000
(11,881,403)
11, 730,547
$ (150,856)
10,341
5,888,458
400,000
146,104
551,467
6,986,029
16,221,887
16,221,887
500,000
500,000
(8,735,858)
11,730,547
$ 2,994,689
3,117
10,341
13,458
(1,600,000)
(253,896)
451,467
(1,388,971)
4,534,516
4,534,516
3,145, 545
$ 3,145, 545
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, 2007
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
State lottery
Miscellaneous:
Earnings on deposits
Total Revenues
EXPENDITURES
Culture and Recreation:
Land improvements
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
$ 372,000 $ 372,000 $ 423,260 $ 51,260
9,000 9,000
381,000 381,000
381,000 381,000
381,000 381,000
8,113 (887)
431,373 50,373
396,667 (15,667)
396,667 (15,667)
34,706
163,281 163,281 163,281
34,706
Fund balances at End of Year $ 163,281 $ 163,281 $ 197,987 $ 34,706
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, 2007
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
$ 2,600,000 $ 2,600,000 $ 2,599,072 $ (928)
4,461 4,461
2,600,000 2,600,000
2,600,000 2,600,000
5,450,000
5,450,000
2,603,533 3,533
2,603,533 3,533
5,450,000 - 5,450,000
5,450,000 - 5,450,000
(2,850,000) (2,850,000)
Fund Balances at Beginning of Year 2,848,728
2,603,533 5,453,533
2,848,728 2,848,728
Fund Balances at End of Year $ (1,272) $ (1,272) $ 5,452,261 $ 5,453,533
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, 2007
Budgeted
REVENUES
Taxes:
Total Revenues
EXPENDITURES
Other Financing Sources (Uses):
Transfers - In:
Non -Departmental
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Original Final
4,000,000 5,000,000
(4,000,000)
Fund Balances at Beginning of Year 4,000,000
1,000,000
1,000,000
Actual
1,000,000
1,000,000
(4,000,000) 1,000,000
4,000,000 4,000,000
Fund Balances at End of Year $ - $
$ 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, 2007
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:
Environmental health
Total Capital Outlay
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
Non Departmental
Total Other Financing Sources
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balance at End of Year $ 1,075,786 $ 549,024 $ 1,052,955 $ 503,931
Original Final
$ 3,018,981
2,538,390
5,557,371
1,319,176
1,319,176
16,500
16,500
6,893,047
200,000
432,650
4,797,674
2,198,151
7,628,475
7,628,475
707,377
707,377
(28,051)
Actual
Variance
$ 3,589,406 $ 3,152,591 $ (436,815)
2,038,390 - (2,038,390)
5,627,796 3,152,591 (2,475,205)
1,401,976
1,401,976
1,500
15,000
16,500
7,046,272
200,000
1,282,993
3,880,881
2,367,830
576,758
1,295,755
1,295,755
9,906
2,108
64,678
76,692
(106,221)
(106,221)
9,906
608
49,678
60,192
4,525,038 (2,521,234)
585,289
1,289,281
3,101,527
2,045,805
276,814
8,308,462 7,298,716
22,971
22,971
8,308,462 7,321,687
707,377
707,377
(554,813)
(385,289)
(6,288)
779,354
322,025
299,944
1,009,746
(22,971)
(22,971)
986,775
2,745,767 2,038,390
2,745,767 2,038,390
(50,882)
1,103,837 1,103,837 1,103,837
503,931
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, 2007
Budgeted
REVENUES
Landfill surcharge
Total Revenues
EXPENDITURES
Miscellaneous:
Solid waste
Code enforcement
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
Fund Balances at End of Year
Original Final
Actual
Variance
$ 1,375,000 $ 1,375,000 $ 1,148,263 $ (226,737)
1,375,000 1,375,000 1,148,263 (226,737)
585,731 585,731
585,731 585,731
585,731 585,731
81,892
707,377
81,892
707,377
(789,269) (789,269)
600,674
454
601,128
601,128
81,892
707,377
(789,269)
(242,134)
1,130,357 1,130,357 1,130,357
(14,943)
(454)
(15,397)
(15, 397)
(242,134)
$ 1,130, 357 $ 1,130,357 $ 888,223 $ (242,134)
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, 2007
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
Fund Balances at End of Year
$ 14,216 $ 14,216 $ 14,210 $ (6)
1,800 1,800 1,419 (381)
- - 53 53
16,016 16,016
16,016 16,016
16,016 16,016
15,682 (334)
15,875 141
15,875 141
(193) (193)
292 292 292 -
$ 292 $ 292 $ 99 $ (193)
98
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, 2007
Budgeted
REVENUES
Intergovernmental:
Federal Grants
State Grants
Total Intergovernmental
Miscellaneous:
Earnings on deposits
Miscellaneous
Total Miscellaneous
Total Revenues
EXPENDITURES
Rent assistance
Supplies
Depreciation
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
$
2,600,000
2,600,000
237,819
237,819
2,837,819
2,600,000
228,202
2,828,202
9,617
$
2,600,000
2,600,000
237,819
237,819
2,837,819
2,600,000
228,202
2,828,202
9,617
Actual
$
3,167,816
3,167,816
12,306
16,552
28,858
3,196,674
2,400,647
367,539
409
2,768,595
428,079
Variance
$
567,816
567,816
12,306
(221,267)
(208,961)
358,855
199,353
(139,337)
(409)
59,607
418,462
2,087,029 2,087,029
$ 9,617 $ 9,617 $ 2,515,108 $ 2,505,491
99
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, 2007
Budgeted
Original Final Actual Variance
REVENUES
Miscellaneous:
Earnings on deposits
Charge for service
Total Revenue
EXPENDITURES
Personnel Services
Depreciation
Purchased services
Supplies
Grants and donations
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
80,000
1,456,125
80,000
1,456,125
1,536,125 1,536,125
51,232
111,589
847,859
200,239
51,232
111,589
847,859
200,239
1,210,919 1,210,919
325,206 325,206
166,111
1,403,557
86,111
(52,568)
1,569,668 33,543
108,243
673,673
130,228
51,232
3,346
174,186
70,011
912,144 298,775
657,524 332,318
3,535,396 3,535,396 3,535,396
Fund Balances at End of Year $ 3,860,602 $ 3,860,602 $ 4,192,920 $ 332,318
100
COLORADO
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:
YEAR ENDING :
December 2007
This Information From The Records Of (example - City of or County of
Prepared By: Barbara Connolly
Phone: (970)356-4000 X4445
I. DISPOSITION OF HIGHWAY -USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE
D. Receipts from
Federal Highway
Administration
ITEM
A. Local
Motor -Fuel
Taxes
B. Local
Motor -Vehicle
Taxes
C. Receipts from
State Highway-
User Taxes
1. Total receipts available
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 PURPOSES
III. DISBURSEMENTS FOR ROAD
AND STREET PURPOSES
ITEM
AMOUNT
ITEM
AMOUNT
A. Receipts from local sources:
A. Local highway disbursements:
1. Local highway -user taxes
1. Capital outlay (from page 2)
6,303,114
a. Motor Fuel (from Item I.A.5.)
2. Maintenance:
18,593,402
b. Motor Vehicle (from Item I.B.5.)
3. Road and street services:
c. Total (a.+b.)
a. Traffic control operations
2. General fund appropriations
b. Snow and ice removal
1,835,784
3. Other local imposts (from page 2)
14,082,266
c. Other
328,204
4. Miscellaneous local receipts (from page 2)
3,581,732
d. Total (a. through c.)
2,163,988
5. Transfers from toll facilities
4. General administration & miscellaneous
2,530,351
6. Proceeds of sale of bonds and notes:
5. Highway law enforcement and safety
a. Bonds - Original Issues
6. Total (1 through 5)
29 590 855
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)
17,663,998
b. Redemption
B. Private Contributions
c. Total a. + b.
0
C. Receipts from State government
(from page 2)
2. Notes:
13,820,505
a. Interest
D. Receipts from Federal Government
from page 2)
b. Redemption
253,454
c. Total (a. + b.)
0
3. Total (1.c + 2.c)
0
E. otal recei ' is (A.7 + B + C + D)
31,737,957
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements (A.6 + B.3 + C + 0)
29,590,855
IV.
LOCAL HIGHWAY DEBT STATUS
(Show all entries 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
I
B. Total Receipts IC. Total Disbursementi D. Ending Balance I
E. Reconciliation
19,389,842 I
31,737,957 I
29,590,855 I
21,536,944 j 0
Notes and Comments:
FORM FHWA-536 (Rev. 1-05)
PREVIOUS EDITIONS OBSOLETE
1
(Next Page)
102
LOCAL HIGHWAY FINANCE REPORT
STATE:
Colorado
YEAR ENDING (mm/yy):
December 2007
II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL
ITEM
AMOUNT
ITEM
AMOUNT
A.3. Other local im I osts:
A.4. Miscellaneous local recei its:
a. Property Taxes and Assessments
7,027,614
a. Interest on investments
133,259
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
1,217,651
5. Specific Ownership &/or Other
7,054,652
g. Other Misc. Receipts
1,120,687
6. Total (1. through 5.)
7,054,652
h. Other
1,1 10,135
c. Total a. + b.
14,082,266
(Ca forward to •a_e 1)
i. Total a. through h.
3,581,732
(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
8,413,837
1. FHWA from Item I.D.5.
2. State general funds
2. Other Federal agencies:
3. Other State funds:
a. Forest Service
85,199
a. State bond proceeds
b. FEMA
b. Project Match
c. HUD
c. Motor Vehicle Registrations
341,898
d. Federal Transit Admin
d. Other (Specify)
5,064,770
e. U.S. Corps of Engineers
e. Other (Specify)
f. Other Federal
168,255
f. Total (a. through e.)
5,406,668
g. Total (a. through f.)
253 454
4. Total 1. + 2. + 3.
III. DISBURSEMENTS
13,820,505
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
2,122,985
TOTAL
c
2,122,985
b. En:ineerin: Costs
c. Construction:
2,709,066
2,709,066
0
(1). New Facilities
(2). Capacity Improvements
766,114
766,114
(3). System Preservation
704,949
704,949
(4). System Enhancement & Operation
0
(5). Total Construction (1) + (2) + (3) + (4)
0
1,471,063
1,471,063
d. Total Ca , ital Outla Lines 1.a. + 1.b. + 1.c.5
0
6,303,114
6,303,114
(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, 2007
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
Fixed assets:
Improvements other than buildings
Buildings
Machinery and equipment
Accumulated depreciation
Total Fixed Assets
Total assets
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable
Accrued liabilities
Due to other county funds
Unearned revenue
Unexpended grant revenue
Total Current Liabilities
Total Liabilities
Net Assets
Invested in capital assets, net of related debt
Restricted for:
Workers' compensation
Unrestricted
Total net assets
$ 1,537,457
161,369
346,553
75,294
2,120,673
485,897
1,800,977
28,558,209
(16,720,830)
14,124,253
$ 16,244,926 $ 4,282,301 $ 3,294,878
$ 4,277,627 $ 1,792,177
4,674
1,495,996
1,420
5,285
4,282,301 3,294,878
$ 416,599 $ 7,962 $ 137,079
- - 967,140
242,290 - 12,729
1,501,419
740,721
658,889
658,889
14,124,253
748,683 2,618,367
748,683 2,618,367
1,461,784 3,533,618
15,586,037
676,511
3,533,618 676,511
104
Phone Services
Fund
Weld Finance Total Internal
Corporation Service Funds
$ 1,352,361 $
13,911
19,687
1,385,959
1,517,053
(1,276,008)
241,045
$ 1,627,004 $
$ 46,602 $
18,024
1,313
65,939
65,939
241,045
1,320,020
$ 8,959,622
1,495,996
1,420
179,954
371,525
75,294
11,083,811
485,897
1,800,977
30,075,262
(17,996,838)
14,365,298
$ 25,449,109
$ 608,242
985,164
256,332
1,501,419
740,721
4,091,878
4,091,878
14,365,298
676,511
6,315,422
1,561,065 - 21,357,231
105
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, 2007
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
Capital contributions
Changes in net assets
Total net assets - beginning
Total net assets - ending
Motor Vehicle
Fund
6,891,179
Health
Insurance Fund
Insurance Fund
$ 8,821,434 $
6,891,179 8,821,434
2,351,715
2,427,851
2,603,636
49,975
7,433,177
(541,998)
50
1,554,511
276,738
1,900
1,833,199
1,291,201
597,415
1,888,616
13,697,421
$ 15,586,037
18,456
8,124,089
2 54, 744
2 54, 744
1,236
21,505
585,331
457
864,519
8,142,545 1,473,048
678,889 (1,218,304)
678,889
1,254,012
85,122
89,855
1,428,989
210,685
678,889 210,685
2,854,729 465,826
$ 3,533,618 $ 676,511
106
Phone Services
Fund
$
1,136,187
1,136,187
142,033
22,284
731,665
77,908
54,569
1,028,459
107,728
Weld Finance
Corporation
$
16,461
822
139,514
156,797
156,797)
5,925,771
15,500
(5,507) (4,863,055)
(5,507)
102,221
102,221
1,458,844
$ 1,561,065
(352,793)
725,423
568,626
568,626
(568,626)
Total Internal
Service Funds
$ 8,821,434
8,282,110
17,103,544
142,033
2,391,696
3,200,299
585,331
2,821,058
105,001
8,988,608
18,234,026
(1,130,482)
1,254,012
5,925,821
100,622
1,554,511
(4,591,824)
91,755
;352,793)
3,982,104
2,851,622
597,415
3,449,037
17,908,194
$ 21,357,231
107
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Internal Service Funds
For the fiscal year ended December 31, 2007
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
Principal paid on long-term debt
Interest paid
Writeoff remaining discount
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
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 by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Motor Vehicle
Fund
Health Insurance
Fund
Insurance
Fund
$ 606,851 $
6,175,720
(4,366,430)
(112,110)
1,900
50
2,305,981
(2,897,733)
484,415
1,554,511
- $
8,894,379
(7,950,324)
(192,531)
751,524
2,655
255,080
(1,316,155)
105,581
j952,839)
1,254,012
1,254,012
(858,807) - -
85,122
1,447,174 751,524 386,295
90,283 3,526,103 1,405,882
$ 1,537,457 $ 4,277,627 $ 1,792,177
$ (541,998) $
2,603,636
1,900
50
(61,059)
(142,039)
(56,086)
267,864
233,714
2,847,980
$ 2.305,982
$ 129,935
678,889 $ (1,218,304)
(4,674)
328
76,980
72,634
1_151=
89,855
(247,640)
337
15,292
(11,017)
156,258
12,729
249,653
265,467
1952 83fl
Phone Service
Fund
Weld Finance
Corp
Total Internal
Service Funds
$ 113,187 $
1,013,590
(662,392)
(129,273)
(133,165)
201,947
(91,442)
(91,442)
110,505
1,241,856
(17,283)
117,283)
5,925,771
5,925,771
(5,590,000)
(352,793)
16,460
(5,926,333)
15,500
(2,345)
2,345
$ 722,693
16,338,769
(14,312,584)
(241,383)
(325,696)
107,481
50
2,289,330
1,254,012
5,925,771
7,179,783
(2,989,175)
(5,590,000)
(352,793)
16,460
484,415
1,554,511
(6,876,582)
100,622
$ 1,352,361 $ - $
$ 107,728 $
77,908
(8,528)
(882)
24,535
3,154
(1,968)
(156,797) $
139,514
94,219 139,514
2,693,153
6,266,469
8,959,622
(1,130,482)
2,821,058
91,755
50
(321,901)
(142,584)
(56,086)
15,292
281,710
159,412
244,475
326,633
$ p01 947 $ (17 2531 $
(5,507)
3,419,814
2,289.332
$ 124,428
109
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Changes in Assets and Liabilities
Fiduciary Funds
For the fiscal year ended December 31, 2007
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
Accounts receivable
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
$ 4,130,227 $ 4,404,788 $ 4,006,084 $ 4,528,931
$ 4,130,227 $ 4,404,788 $ 4,006,084 $ 4,528,931
$ - $ 164,837 $ 164,837 $
4,130,227 4,549,947 4,151,243 4,528,931
$ 4,130,227 $ 4,714,784 $ 4,316,080 $ 4,528,931
$ 219,128 $ 18,351,582 $ 18,465,983 $ 104,727
0 419 363 56
$ 219,128 $ 18,352,001 $ 18,466,346 $ 104,783
$ 219,128 $ 19,135,037 $ 19,249,382 104,783
$ 219,128 $ 19,135, 037 $ 19, 249, 382 $ 104,783
$ 24,378 $ 500,810 $ 494,728 $ 30,460
$ 24,378 $ 500,810 $ 494,728 $ 30,460
$ 24,378 $ 30,642 $ 24,560 30,460
$ 24,378 $ 30,642 $ 24,560 $ 30,460
$ 4,373,733 $ 23,257,180 $ 22,966,795 $ 4,664,118
0 419 363 56
$ 4,373,733 $ 23,257,599 $ 22,967,158 $ 4,664,174
$ 243,506 $ 19,330,516 $ 19,438,779 $ 135,243
4,130,227 4,549,947 $ 4,151,243 4,528,931
$ 4,373,733 $ 23,880,463 $ 23,590,022 $ 4,664,174
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, 2007
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:
Federal grant
State grants
Fees
Donations
Gain (loss) on disposition of assets
Total Nonoperating Revenues
Income(loss) before contributions and transfers
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at end of Year
Original Final
Actual
Variance
$ 7,642,187 $ 8,805,187 $ 8,519,367 $ (285,820)
7,642,187 8,805,187 8,519,367 (285,820)
2,524,000
3,856,782
179,690
529,855
145,500
131,360
7,367,187
275,000
275,000
275,000
2,648,561
$ 2,923,561
3,324,000
3,856,782
459,690
649,855
145,500
131,360
8,567,187
238,000
43,200
77,800
121,000
359,000
359,000
2,648,561
$ 3,007,561
3,328,501
3,873,871
404,848
654,121
209,580
108,522
8,579,443
(4,501)
(17,089)
54,842
(4,266)
(64,080)
22,838
(12,256)
(60,076) (298,076)
43,200
77,528
10,290
100
2,470
133,588
(272)
10,290
100
2,470
12,588
73,512 (285,488)
73,512
2,648,561
(285,488)
$ 2,722,073 $ (285,488)
111
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, 2007
Budgeted
Operating Revenues:
Charges for services
Miscellaneous
Total Operating Revenues
Operating Expenses:
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating income (loss)
Nonoperating Revenues (Expenses):
Miscellaneous
Grants
Gain (loss) on disposition of assets
Judgements and damages
Total Nonoperating Revenues(Expenses)
Income(Loss) before contributions and transfers
Capital contributions
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
Actual
$ 4,107,475 $ 4,518,475 $ 4,505,457
2,256,000 2,911,000 2,385,722
6,363,475 7,429,475 6,891,179
2,051,000
1,981,500
2,256,000
49,975
2,051,000
2,386,500
2,586,000
49,975
6,338,475 7,073,475
25,000 356,000
298,800
500,000
298,800
298,800 798,800
323,800 1,154,800
323,800
13,697,421
1,154,800
13,697,421
$ 14,021,221 $ 14,852,221
2,351,715
2,427,851
2,603,636
49,975
7,433,177
(541,998)
50
1,554,511
276,738
1,900
1,833,199
1,291,201
597,415
1,888,616
13,697,421
Variance
$ (13,018)
(525,278)
(538,296)
(300,715)
(41,351)
(17,636)
(359,702)
(897,998)
50
1,054,511
(22,062)
1,900
1,034,399
136,401
597,415
733,816
$ 15,586,037 $ 733,816
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, 2007
Budgeted
Original Final Actual Variance
Operating Revenues:
Contributions $ 8,701,008 $ 9,400,000 $ 8,821,434 $ (578,566)
Operating Expenses:
Purchased services
Insurance and bonds
Claims
Total Operating Expenses
Operating Income (Loss)
Net Assets at Beginning of Year
27,000
1,018,780
7,655,228
27,000
1,018,780
8,354,220
8,701,008 9,400,000
18,456 8,544
1,018,780
8,124,089 230,131
8,142,545 1,257,455
678,889 678,889
2,854,729 2,854,729 2,854,729
Net Assets at End of Year $ 2,854,729 $ 2,854,729 $ 3,533,618 $ 678,889
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, 2007
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 $ 254,744 $ 4,744
500
31,700
495,000
500
1,052,300
1,580,000
(1,330,000)
1,250,000
30,000
50,000
1,330,000
500
31,700
525,000
500
1,112,300
1,236
21,505
585,331
457
864,519
1,670,000 1,473,048
(1,420,000)
1,250,000
80,000
90,000
(736)
10,195
(60,331)
43
247,781
196,952
(1,218,304) 201,696
1,251,830
2,182
85,122
89,855
1,420,000 1,428,989
465,826 465,826
210,685
465,826
$ 465,826 $ 465,826 $
1,830
2,182
5,122
(145)
8,989
210,685
676,511 $ 210,685
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, 2007
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Personnel services
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating Income (Loss)
Nonoperating revenues (expenses):
Gain (loss) on disposition of assets
Total nonoperating revenues (expenses)
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
Actual
Variance
$ 956,579 $ 956,579 $ 1,136,187 $ 179,608
133,990
14,500
652,560
100,950
54,579
956,579
139,990
14,500
772,560
100,950
54,579
142,033
22,284
731,665
77,908
54,569
1,082,579 1,028,459
(126,000)
107,728
(5,507)
(5,507)
(126,000) 102,221
1,458,844 1,458,844 1,458,844
(2,043)
(7,784)
40,895
23,042
10
54,120
233,728
(5,507)
(5,507)
228,221
$ 1,458,844 $ 1,332,844 $ 1,561,065 $ 228,221
115
COUNTY OF WELD
STATE OF COLORADO
Weld Finance Corporation
Schedule of Revenues, Expenses and
Changes in Net Assets - Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Operating Revenues:
Operating Expenses:
Supplies
Purchased services
Depreciation
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
Miscellaneous
Interest income
Gain (loss) on disposition of assets
Interest expense
Total Nonoperating Revenues(Expenses)
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
440,000
440,000
(440,000)
741,293
440,000
440,000
Actual
16,461
822
139,514
156,797
(440,000) (156,797)
741,293
(301,293) (301,293)
440,000
440,000
(568,626) (568,626)
5,925,771
15,500
(4,863,055)
(352,793)
725,423
568,626
(568,626)
$ (568,626) $ (568,626) $ -
Variance
(16,461)
(822)
300,486
283,203
283,203
5,184,478
15,500
(4,863,055)
(51,500)
285,423
568,626
$ 568,626
116
STATISTICAL
SECTION
rii& (‘,,
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.
119
124
128
131
133
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
2002
2003
2004
$ 253,141,316 $ 247,764,877 $ 238,640,911
3,307,949
3,025,505
1,663,948
27,713,273
3,169, 309
3,025, 505
1,748,948
26,511,213
28$ X1.991 $ 282.219.852
4,199,374
3,500,000
1,748,949
30, 759,296
$ 278.848.530
2005
$ 231,271,356
4,695,690
4,000,000
1,748,950
39,782,093
281.498.089
2006
$ 233,626,280
3,953,450
4,000, 000
1,748, 951
48.545, 826
$_21124115D1
2007
$ 249,237,323
3,988,022
5,000,000
1,748,951
40.122,962
$ 300.097.258
$ 941,049 $ 834,285 $ 864,425 $ 809,643 $ 852,705 $ 987,445
(86,086) 1266,736) (4,761) 1,508,322 2,118,077 2,191,453
$ 54.963 $ 567.549 $-.8-52.5124 S-23-11-9.65 $ 2,970.782 $ 3.178.898
$ 254,082,365 $ 248,599,162 $ 239,505,336 $ 232,080,999 $ 234,478,985 $ 250,224,768
7,997,402 7,943,762 9,448,323 10,444,640 9,702,401 10,736,973
27,627,187 26,244,477 30,754,535 41,290,415 50,663,903 42,314,415
$ 289.706.954 $ 282.787.401 W.708.194, $ 283.816.054 a2.8.9 $ x3.27 -C1.15.6
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only six years of
government -wide financial data is presented.
118
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Assets
Last Six Years
(accrual basis of accounting)
Fiscal Year
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)
2002 2003
$ 19,978,184
24,079,553
34,283,421
21,721,740
1,036,099
11,079,949
406,155
112,585,101
$ 23,618,753
27, 827, 685
33, 353,129
21,404,255
776,322
11,411,322
377,233
118, 768, 699
2004
$ 21,174,906
28,425,957
32,688,807
23,538,421
1,005,697
12,646,785
358,054
119,838, 627
2005
$ 23,047,725
30,449,441
36, 919,372
24, 843,147
771,295
13,736,745
340,411
130,108,136
2006
$ 26,641,373
32, 562, 998
37,068,628
26,179, 807
1,549,379
11, 747, 943
322,293
136,072,421
2007
$ 35,301,327
36,717,165
34,637, 731
31,026,419
1,008, 703
14,403, 662
335,771
153,430, 778
6,743,936 8,800,646 9,738,148 6,366,088 7,156,700 8,444,840
$ 119.329.037 $127.569.345 $.429.576 775 $ 136,474.224 $ 143.229.121 $161.875.618
$ 9,425,679
3,894,565
2,021,319
13,664,895
266,900
922,549
26,156,456
56,352,363
6,815,683
63,168,046
$ 8,677,015
5,085,767
2,279,939
11, 486, 561
1,375
1,576,106
25, 963, 243
55,070,006
8,518,289
63, 588, 295
$ 8,086,983
7,609,527
1,157, 634
12,699,858
309,948
862,223
27,124, 685
57,850, 858
10,035, 874
67,886, 732
$ 9,792,423
5,430,422
3,433,713
13,664,206
333,293
1,156,012
27,885,047
61,695,116
7,829,714
69,524,830
$ 12,265,623
6,378,749
4,023,310
14, 949, 936
345,990
1,186,129
30,045,943
69,195,680
7,710,848
76, 906, 528
$ 10,043,033
4,998, 285
3,566, 774
17,504,660
453,352
838,871
36,500,297
4,738, 627
78,643, 899
8,652, 955
87,296, 854
(56,232,738) (63,698,693) (61,987,769) (68,413,020) (66,876,741) (74,786,879)
71,747 (282,357) 297,726 1,458,301 652,816 208,115
$ (56.160.9911 $ (63.981.050) $ j61.690.043) $(66.954.719) $ f66.223.925) $ L75.78.7641
119
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Assets
Last Six Years
(accrual basis of accounting)
Fiscal Year
2002 2003
General Revenues and Other Changes in Net Assets
Governmental activities:
Taxes:
2004
2005
2006
2007
Property taxes $ 45,233,546 $ 47,532,602 $ 50,785,919 $ 56,382,533 $ 62,124,792 $ 67,215,993
Specific Ownership 5,467,148 5,540,872 6,795,897 6,627,991 6,614,819 7,056,071
Other 2,376,581 2,492,418 3,333,336 3,733,025 5,266,786 3,546,134
Unrestricted investment earnings 2,052,594 1,563,120 1,644,979 2,679,442 4,539,172 5,191,430
Donated capital assets 0 0 0 355,784 7,602 0
Gain on sale of capital assets 10,030 (94,544) (2,358,185)
Transfers - - - (1,300,000)
Total governmental activities 55,139,899 57,034,468 60,201,946 69,778,775 77,253,171 83,009,628
Business -type activities:
Paramedic service (5,057) (5,611)
Total primary government $_.51.11.9392 899 $__57-029.411., $___60.196.33, $ 69 27$.775 $ 77.253,171 $ 83.009 628
Change in Net Assets
Governmental activities
Business -type activities
Total primary government
$ (1,092,839) $ (6,664,225) $ (1,785,823) $ 1,365,755 $ 10,376,430 $ 8,222,749
71,747 1287,414) 292,115 1,458,301 652,816 208,115
$ (1,021..0921 $___(6i $___(1i9.3..708) $ 2 $24.466 $ 11.029.246 $$...43.L Q4
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only six years of govemment-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
2002
2003 2004
2005
2006
2007
$ 3,249,297 $ 1,342,369 $ 1,516,298 $ 1,486,188 $ 946,073 $ 1,081,217
2,921,157 3,727,307 6,699,941 7,648,920 10,630,592 7,007,528
$ 6.170.454 $5.069.676 $ .2____16.2_39 1__9.a10 $ 11.a665 $ 8 088.745
All other Governmental Funds
Reserved $ 6,984,908 $ 2,666,118 $ 4,139,435 $ 8,834,511 $ 19,019,004 $ 12,074,704
Unreserved, reported in:
Special revenue funds 19,512,384 22,023,076 25,360,820 26,155,751 25,281,236 27,791,990
Capital projects funds 294,482 2,830,614 697,779 3,511,495 0 272,790
Debt service funds
Total for all governmental funds $ 32,962,228 $ 32,589,484 $ 38,414,273 $ 47,636,865 $ 55,876,905 $ 48,228,229
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only six years of government -wide data is
presented.
121
COUNTY OF WELD
STATE OF COLORADO
Changes in Fund Balances, Governmental Funds
Last Six Years
(modified accrual basis of accounting)
Fiscal Year
Revenues
Taxes
Licenses and permits
Intergovernmental
Fines and forfeitures
Charges for Services
Miscellaneous
Fees
Total Revenues
Expenditures
Current:
General government
Public Safety
Public Works
Public health and welfare
Culture and recreation
Economic assistance
Capital outlay
Debt service
Interest
Principal
Total Expenditures
Excess of revenues over (under) expenditures
Other Financing Sources (Uses)
Transfers -in
Transfers -out
Total Other Financing Sources (Uses)
Net changes in Fund Balance
Debt Service as a percentage of noncapital expenditures
2002
$ 50,771,861
2,205,420
40,511,590
159,246
5,746,678
5,536,066
6,638,831
111,569,692
2003 2004
$ 53,080,974
1,760,546
38,299,161
75,488
6,887,469
4,739,386
7,387,204
$ 57,698,294
1,834,849
40,652,682
69,538
7,345,819
5,329,931
7,454,831
2005
$ 63,261,095
2,119,419
41,110, 202
204,530
8,618, 819
7,582,510
8,175,907
2006
2007
$ 69,178,181 $ 74,627,631
3,188,354 2,129,731
44,982,577 53,886,023
135,908 416,668
8,232,213 7,800,131
13,377,598 9,567,707
8,602,079 8,061,587
112,230,228 120.385,944 131.072,482 147,696.910 156,489,478
19,100,208 21,910,296 20,566,315 22,384,671 25,366,204 32,605,930
23,435,572 27,212,371 27,475,345 29,834,629 31,881,427 35,945,956
23,465,325 21,407,821 22,734,695 25,490,667 26,315,156 31,798,757
21,327,335 20,896,282 23,046,109 24,284,817 25,993,962 30,940,641
1,046,374 764,449 1,007,208 775,903 1,550,929 1,011,311
10, 892, 932 11,365,585 12,450,198 13, 572, 861 11,746,242 14,449,197
9,590,948 8,668,934 6,923,230 5,165,931 14,980,649 17,050,592
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
2.304.843
5,144,682
5,144,682
(372,743)
2,482,745
2,482, 745
5.824,790 9,222,592
4,299,153
4,299,153
7,436,144
7,436.144
9,540.048 (7,648,677)
11,309,847
12,609,847
(1,300,000)
4,340, 010
4,340,010
$ .302 4.843 $ j372.743) $__45-32429D $ 9.222.592 $ x.240.048 L (7.648.6711
0.41%
0.36%
0.33%
0.29%
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only six years of government -wide data is
presented.
0.26%
0.23%
122
COUNTY OF WELD
STATE OF COLORADO
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Years
Assessed
Estimated Value as a
Levy Vacant Residential Commercial Industrial Natural State Total Taxable Actual Total Direct Percentage of
Year Land Property Property Property Agricultural Resources Oil & Gas Assessed Assessed Value Taxable Value Tax Rate Actual Value
1998 31,291,010 439,829,580 250,135,740 158,897,260 146,476,670 5,331,440 346,540,470 174,668,900 1,553,171,070 8,237,641,484 22.040 18.855%
1999 39,972,410 495,548,460 290,007,410 170,255,740 159,738,640 6,011,730 283,716,490 190,702,000 1,635,952,880 9,192,331,981 22.040 17.797%
2000 47,667,910 540,751,070 314,250,570 165,725,260 164,061,910 7,195,130 333,701,460 189,342,800 1,762,696,110 9,874 ,580, 837 22.038 17.851%
2001 69,764,692 664,709,268 346,693,150 156,169,130 153,977,970 6,684,200 623,293,310 200,793,550 2,222,085,270 12,209,437,161 22.038 18.200%
2002 84,924,310 736,752,250 376,484,940 159,190,800 159,479,010 7,292,220 649,951,220 253,719,200 2,427,793,950 12,964,532,977 20.559 18.726%
2003 118,539,590 790,760,590 425,380,570 151,942,640 153,478,310 8,673,760 554,434,380 284,213,800 2,487,423,640 15,225,468,379 20.056 16.337%
2004 105,868,950 851,446,760 448,526,350 153,747,260 158,581,990 10,115,440 969,984,640 295,147,000 2,993,418,390 16,596,579,600 21.474 18.036%
2005 115,005,330 972,251,070 507,867,420 155,227,960 172,592,990 9,310,740 1,279,782,160 403,287,500 3,615,325,170 19,255,338,644 19.957 18.776%
2006 110,566,010 1,051 ,061, 180 538,352,810 194,235,560 175,708,230 10,876,640 1,736,735,240 386,413,500 4,203,949,170 21,011,080,893 17.900 20.008%
2007 132,402,840 1,218,082,640 631,036,750 214,051,130 96,371,890 14,538,010 1,749,119,710 412,859,500 4,468,462,470 22,698,462,039 16.804 19.686%
Source: Office of the Weld County Assessor
Note: The assessment ratio for Residential Property was 10.36 in 1995, changed to 9.74 in 1997, 9.15 in 2001 and 7.96 in 2003 as determined by State Law.
Commercial Property and non-residential Personal Property has been assessed at 29% of actual value throughtout the ten-year time frame.
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
1998 22.040 11.274 49.617 6.320 1.409
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
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
Thermo Cogeneration Partnership
Noble Energy Inc
Kerr-McGee Rocky Mountain Corporation
Encana Oil & Gas Inc
Petroleum Development Corp
Public Service Company of Colorado
Rocky Mountain Energy Center
Petro -Canada Resources (USA) INC
Merit Energy
DCP Midstream LP
Owens -Brockway Glass Container
HS Resources Inc
Patina Oil & Gas Corporation
Eastman Kodak Company
Thermo Cogeneration Partnership
North American Resources Company
Duke Energy Field Services Inc
US West Communications Incorporated
Prima Oil & Gas Company
RR Donnelley & Sons Company
Source:
Weld County Assessor
2007
Taxable
Assessed
Value
$ 628,188,710
538,938,330
136,417,080
125,643,030
93,813,600
80,078,300
78,071,550
60,877,970
48,205,900
36,815,410
$ 1,827,049,880
Percent
Of Total County
Taxable
Assessed
Rank Value
1
2
3
4
5
6
7
8
9
10
14.06%
12.06%
3.05%
2.81%
2.10%
1.79%
1.75%
1.36%
1.08%
0.82%
1998
Taxable
Assessed
Value
Percent
Of Total County
Taxable
Assessed
Rank Value
$ 54,998,700 4
130,955,390
87,602,530
65,995,310
26,300,300
22,614,200
17,775,610
17,685,600
14,888,980
9,854,490
40.88% $ 448,671,110
1
2
3
5
6
7
8
9
10
4.25%
8A3%
5.64%
3.54%
1.69%
1.46%
1.14%
1.14%
0.96%
0.63%
28.88%
125
COUNTY OF WELD
STATE OF COLORADO
Property Tax Levies and Collections
Last Ten Years
Taxes Levied
Levy Collect for the
Year Year Fiscal Year (11
1997 1998
1998 1999
1999 2000
2000 2001
2001 2002
2002 2003
2003 2004
2004 2005
2005 2006
2006 2007
32,543,342
34,162,938
35,976,391
38,774,962
45, 619,589
48,640,425
53, 350,030
59,680,948
64,636,463
70,575,408
Collected within the
Ficsal Year of the Levy
Tax Percent
Amount (21 of Levy
32,222, 578
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
99.014%
99.799%
99.479%
98.713%
99.883%
99.527%
99.521%
99.522%
99.913%
100.000%
Collections
in Subsequent
Years (31
144
16,004
92,122
53,693
53,243
99,691
(230,294)
(48,154)
56,265
Total Collections to Date
Tax Percent
Amount (31 of Levy
32,222, 722
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
Source:
1) Final Budget
2) YTD Treasurer's Tax Distribution
3) YTD Treasurer's Tax Distribution 2001 forward. Negative values reflect subsequent rebates and adjustments.
99.015%
99.846%
99.735%
98.851%
100.000%
99.732%
99.089%
99.442%
100.000%
100.000%
126
COUNTY OF WELD
STATE OF COLORADO
Direct and Overlapping Governmental Activities Debt
December 31, 2007
Jurisdiction
Cities & Towns
Schools
Special Districts
Total Overlapping
Net General
Obligation
Bonded Debt
Outstanding
$ 93,208,676
841,011,281
137,994,997
L072,214,954
Percentage
Applicable to
Government (1)
79.56%
40.18%
75.57%
Source: Debt outstanding provided by each governmental unit.
Amount
Applicable to
Government
$ 74,154,344
337,904,281
104,287,762
$ 516,346,387.
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
COUNTY OF WELD
STATE OF COLORADO
Legal Debt Margin Information
Last Ten Years
Legal Debt Margin Calculation for Fiscal Year 2007
Assessed Value, 2007
Debt Limit 3 Percent of Assessed Value
Amount of Debt Applicable to Limit:
Total Bonded Debt
Installment Purchase Agreements
Total Amount of Debt Applicable to
Debt Limit
Legal Debt Margin
$0
0
$ 4,468,462,470
134,053,874
0
$ 134.053,874
Legal Debt Margin Information
Last Ten Fiscal Years
Debt limit
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to the limit
as a percentage of debt limit
1998
$46,595,132
1999 2000
$49,078,586
$52,880,883
2001 2002
$66,662,558 $72,833,818
$46_595132 $49.078.586 $52.880.8.83 $68.662.558
0.00%
0.00%
0.00%
0.00%
Note:
Debt Limitation: Under Section 30-35-201, Colorado Revised Statutes, 1973, the County may incur
indebtedness for general County purposes in an amount not to exceed 3% of assess valuation of all
taxable property.
$72.833.818
0.00%
2003 2004 2005 2006 2007
$74,622,712 $89,802,552 $ 108,459,755 $ 126,118.475 $134.053.874
$7..622.712 $89_8.02.552 $108.459.755 $126.118..475 $134_003.874
0.00% 0.00% 0.00% 0.00% 0.00%
COUNTY OF WELD
STATE OF COLORADO
Private Purpose Revenue Bonds
December 31, 2007
INDUSTRIAL REVENUE BONDS:
ISSUER
Waste Service Corporation Landfill
Waste Service Corporation Landfill
MAK Group, LLC
TYPE OF ISSUE
FACILITY 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
388,000 5/99
2,020,000 10/98
Therapeutic 1,650,000 9/03
Center
Manufacturing 5,715,000 10/05
North Range Behavioral Health Office
4,500,000 5/07
TOTAL PRIVATE PURPOSE REVENUE BONDS
DEBT
OUTSTANDING
BEGINNING OF YEAR
$315,000
1,070,000
1,345,000
298,500
1,425,000
1,466,121
5,715,000
0
$11.634.621
ISSUED RETIRED
$0 $70,000
0 175,000
0
0
0
15,721
0 115,000
0 61,936
0
4,500,000
$4.500.000
REVENUE BOND
OUSTANDING
END OF YEAR
$245,000
895,000
1,345,000
282,779
1,310,000
1,404,185
0 5,715,000
0 4,500.000
$437.657 $15.696.964
129
COUNTY OF WELD
STATE OF COLORADO
Demographic and Economic Statistics
Last Ten Years
Year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Population
166,547
174,342
180,936
193,929
202,329
207,120
217,652
221,957
229,377
236,908
Total
Personal Income Per
($ billion) Capita Income
3.52
3.89
4.22
4.36
5.02
5.14
5.38
5.79
5.84
6.23
21,144
22,301
23,016
22,469
24,571
24,279
25,274
25,968
25,495
26,280
Unemployment
Rate
3.90%
3.70%
2.70%
4.00%
6.10%
6.70%
5.40%
5.00%
3.80%
4.63%
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
Swift & Company (formerly ConAgra)
Northern Colorado Medical Center
School District 6
State of Colorado (includes UNC )
Weld County Government
US Government
State Farm Insurance Companies
City of Greeley
Startek USA
Wal-mart Super Center
Eastman Kodak Company
Aims Community College
Hewlett Packard
Total Principal Employers
Other Employers
Total County Employment
2007
Employees
3650
2700
2307
1723
1490
1400
1322
1306
906
856
17,660
98,926
116,586
Percent
Of Total County
Rank Employment
Source: Upstate Colorado
Total Employment from Colorado Department of Labor & Employment
1
2
3
4
5
6
7
8
9
10
3.13%
2.32%
1.98%
1.48%
1.28%
1.20%
1.13%
1.12%
0.78%
0.73%
15.15%
84.85%
100.00%
1998
Employees
4159
1850
1750
2997
1000
2443
986
701
2439
1454
995
20,774
62,082
82,856
Percent
Of Total County
Rank Employment
1
4
5
2
7
2
9
10
3
6
8
5.02%
2.23%
2.11%
3.62%
1.21%
2.95%
1.19%
0.85%
2.94%
1.75%
1.20%
25.07%
74.93%
100.00%
131
COUNTY OF WELD
STATE OF COLORADO
Full-time Equivalent County Government Employees by Function/Program
Last Ten Years
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Function/Program
General government 226 231 242 247 252 241 241 247 256 258
Public safety (1) 232 230 234 247 260 267 267 275 279 308
Public works 120 126 132 140 140 155 155 139 167 167
Health and welfare 225 230 233 248 253 258 258 286 305 337
Culture and recreation 2 2 2 2 1 2 2 1 1 1
Economic assistance 143 139 134 150 164 162 161 181 166 173
Total General Government
Business -type activities:
Paramedic service
Total primary government
948 958 977 1,034 1,070 1,085 1,084 1,129 1,174 1,244
52 53 57 61 57 57 57 62 63 67
1,000 1,011 1,034 1,095 1,127 1,142 1,141 1,191 1,237 1,311
Source: Weld County Human Resources
Notes:
(1) A traffic unit was added in 2001 funded by the CDOT Office of Highway Safety Grant and initially requiring 5 positions.
The North Jail Complex was built in 1997 with 160 beds and a staffing level of 75. Phase II added 226 beds in 2004 and
increased projected 2005 staffing to 132.
COUNTY OF WELD
STATE OF COLORADO
Operating Indicators by Function/Program
Last Eight Years
Fiscal Year
2000 2001 2002 2003 2004 2005 2006 2007
Function/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)
478,727
80,041
65,317
81.6%
294,019
79,289
22,422
28.3%
305,879
85,161
56,730
66.6%
433,188
76,245
32,476
42.6%
439,146
98,692
89,099
90.3%
462,877
99,711
46,327
46.5%
466,777
100,924
68,871
68.2%
484,412
88,601
30,203
34.1%
1,457 1,520 1,435 2,738 1,387 1,543 1,574 1,606
250 220 337 491 218 206 215 224
303 298 330 371 402 455 579 628
55,807 52,000 84,420 72,396 75,276 79,425 92,045 95,524
2,190 2,180 2,082 1,941 2,012 2,082 1,972 2,081
$143,856 $148,426 $125,336 $201,442 $132,178 $104,225 $399,473 $90,446
Public works:
Miles of road graveled 427 440 440 440 401 401 160 359
Snow removal lane miles 1370 1390 1390 1,406 33,710 78,435 125,225 222,703
Grading lane miles 123,718 131,171 131,171 126,000 175,910 165,681 164,906 135,779
Miles of Upgrade -Aggregate Surfaced Roads 26 5 5 8 10 0 10 34
Culverts (new and repaired) 15" and larger 204 240 240 240 217 217 242 250
Tons of asphalt laid 102,221 80,055 80,055 101,243 95,634 95,634 70,421 67,389
Tons of gravel crushed 490,000 500,000 500,000 510,000 487,477 487,477 408,409 411,582
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
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
700 700 695 558 575 575 586 595
5,000 2,370 2,410 2,410 2,220 2,422 2,326
524 537 577 641 622 562 562 562
250 99 200 146 175 266 266 266
6,973 6,687 7,027 7,060 7,331 7,284 8,375 8,210
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.
133
COUNTY OF WELD
STATE OF COLORADO
Capital Asset Statistics by Function/Program
Last Eight Years
Fiscal Year
2000 2001 2002 2003 2004 2005 2006 2007
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:
Altemative 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
9 9 9 9 10 12 18 18
959 997 1,240 1,292 1,292 1,292
454 454 454 454 386 386 386 386
35 36 44 43 42 46 55 55
828 857 947 939 1,140 1,229 1,270
665 665 670 679 671 681 675 670
2,490 2,484 2,457 2,438 2,425 2,394 2,387 2,370
255 254 253 250 252 512 327 492
18 18 18 18 18 18 18 18
27 27 30 29 30 30 30 30
4 4 4 5 6 4 4 4
12 12 12 11 11 11 11 11
11 11 10 10 10 10 10 11
Source: Weld County Department records and Fixed Asset Inventory
134
COUNTY OF WELD
STATE OF COLORADO
Insurance in Force
December 31, 2007
Name of Company
Midwest Employers
Casualty Company
Lexington
(Colorado Counties
Casualty & Property
Pool)
Policy
Number
Policy Period
Begins Expires
ECW005661 01/01/07
1115700
St. Paul Fire and Marine GP06301937
Insurance Company
(Colorado Counties
Casualty & Property
Pool)
Details of Coverage
12/31/07 Excess Worker's
Compensation
01/01/07 12/31/07
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
$77,050
$274,898
135
COLORADO
Single
Audit
COLORADO
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2007
YEAR FUND GRANT DESCRIPTION
DIRECT FEDERAL GRANTS OR CONTRACTS
2007 2611 Head Start
2007 2614 Head Start
TOTAL DIRECT FEDERAL GRANTS OR CONTRACTS
ACCRUED ACCRUED
(DEFERRED) RECEIPTS RECEIPTS RECEIPTS (DEFERRED) Percent of
FEDERAL REVENUE FEDERAL STATE LOCAL TOTAL REVENUE Federal Federal
CFDA# 12/31/2006 SHARE SHARE SHARE RECEIPTS EXPENDITURES 12/31/2007 Expenditure Expenditure
93.600 365,766 3,180.545
93.600 381,474 2,678,663
3,180,545 2,814,779 0 100.00% 2,814.779
2,678.663 2,297,189 0 100.00% 2.297,189
747,240 5,859208
0
0 5.859.208 5,111.968 0
PASSED THROUGH THE STATE OF COLORADO DEPARTMENT OF HUMAN SERVICES
Supplemental Foods
2007 2676 CSFP Program 10.565
67,175 223.593
2007 2100 Emergency Food Assistance Program - Admin 10.568 0 15,697
2007 2100 Emergency Food Assistance Program - Food Commodities 10.565 0 223,593
2007 2653/54 Nutrition Service Incentive
2007 2100 Food Stamp Administration
2007 2100 Food Stamp Program
2007 2100 Food Stamp Administration
SUBTOTAL DEPARTMENT OF AGRICULTURE
223,593 222.464 66,046 100.00% 222,464
15,697 15,697 (0) 100.00% 15.697
223.593 223.593 0 100.00% 223,593
10.570 0 46,486 46.486 46,486 0 100.00% 46,486
10.561 7,600 84.060 42,030 42.030 168,120 169,685 9,165 50.00% 84,843
10.551 (1,140) 13,247,138 0 0 13.247,138 13.254,929 6.651 100.00% 13.254,929
10.561 654 40231 1.798 38.434 80.463 79,897 88 50.00% 39.948
74,289 13,880,799 43,827 80,464 14,005,090 14,012,751 81,950
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2007
YEAR FUND GRANT DESCRIPTION
Special Program for the Aging, Title III
2007 2652 OAA-B Supportive Services
2007 2651 OAA-Administration
2007 2658 OAA-Omsbudsman Supp
2007 2653 OAA-C-1-Congrate Meals
Area Agency for the Aging, Part C -II
2007 2654 OAA-C-2 Delivered Meals
Area Agency for the Aging, Part D
2007 2655 OAA-D in Home Support
2007 2657 OAA -Elder abuse
2007 2673 OAA-E National Caregiver
Total Area Agency for the Aging
2007 2100 Temporary Assistance for Needy Families
2007 2100 Child Care Mandatory & Matchin Funds of Child Care & Develc
2007 2100 Child Care and Development Block Grant
2007 2100 Social Services Block Grant
2007 2100 Child Welfare Services State Grants
2007 2100 Foster Care Title IV -E
2007 2100 Adoption Assistance
2007 2100 Social Services Block Grant
2007 2100 Medical Assistance Program
2007 2100 Food Stamp Administration
2007 2100 Social Services Block Grant
2007 2100 Medical Assistance Program
2007 2100 Medical Assistance Programs
2007 2100 Social Services Block Grant
2007 2100 Foster Care Title IV -E
2007 2100 Medical Assistance Programs
2007 2100 Child Support Enforcement
2007 2100 Low Income Home Energy Assistance
2007 2100 Chafee Foster Care Independent Living
2007 2100 Food Stamp Administration
2007 2100 Child Support Enforcement
2007 2100 Foster Care Title IV -E
2007 2100 Adoption Assistance
2007 2100 Medical Assistance Program
2007 2100 Adjustment to Federal Assistance
ACCRUED
(DEFERRED)
FEDERAL REVENUE
CFDA# 12/31/2 006
93.042
93.044
93.044
93.045
93.045
93.043
93.041
93.052
93.558
93.596
93.575
93.667
93.645
93.658
93.659
93.667
93.778
10.561
93.667
93.778
93.778
93.667
93.658
93.778
93.563
93.568
93.674
40.056
12,984
(1.388)
29,774
5.245
733
1,091
3,414
91,909
RECEIPTS
FEDERAL
SHARE
195.762
54.367
1207
146,420
33,700
5.422
1,373
48,714
486,965
31,689 2,482,455
1.802,326
642,346
3,180
RECEIPTS
STATE
SHARE
0
RECEIPTS
LOCAL
SHARE
TOTAL
RECEIPTS EXPENDITURES
195,762
54.367
1,207
146.420
33,700
5.422
1,373
48,714
0 4 86,9 65
189,027
60.039
5,110
160.965
34.842
9,879
855
56,643
517,360
16.152 580,437 3,079,043 3,262,242
546.392
194,733
964
742.088
362,297
129,122
639
492.058
2,711,014
966.201
4,783
3.681.997 3.676,762
2,707,159
964.827
4,776
ACCRUED
(DEFERRED) Percent of
REVENUE Federal Federal
12/31/2007 Expenditure Expenditure
3 3,32 1 100.00% 189,027
18.656 100.00% 60,039
2,515 100.00% 5.110
44,319 100.00% 160,965
6,387 100.00% 34,842
5,190 100.00% 9.879
573 100.00% 855
1 1,34 3 100.00% 56,643
122,304
214,888 80.62% 2,630.157
5.878 2,447,851
227,664
3.068,758
513.773
2.008.191
505.293
317,005
4273.017
715.391
2.796.257
703.583
104.081
1,402,947
234.882
918.086
231.005
648,750
8.744,721
1.464.046
5.722.534
1.439.881
648,439
8.740,535
1,463.345
5.719.794
1.439.192
642 66.48%
406,432 6.323,678 8,805.252 2,891,002 18.019.932 18,011,305
559,198
42,041
732.570
331,278
24,906
433.987
222,619
16,737
291.639
1,113.096
83.684
1,458.197
1,130,738
85,010
1,481.309
397,805 35.09%
199,662 1,333,810
4,479
308
790,172 530.995 2,654.977 2,697,058
17,735
1.219
15,386
1.057
37,600
2.584
44.983
3.091
24 1.74 3 50.24%
4.787
18,954
59.551 1.084,589
13,588
73,139 1,332.070
247.481
16,443
175.853
40.126
40,184
48,074
1,319.993 1,322.445
301.195
301.754
7,890 11.91%
(20.089)
97,406
15,216
10,122
1,671,555
1,282.573
106,962
0
374,611
0
215,979
1,106,808
0
0
1,621,188 1,624,200
2,778,363
1,657,185
106.962
2,791,087
1,659,143
105,510
10.561 320,816 0 1.141.749 1.462.564 1,462,564
93.563 54265 0 193,123 247,388 247,388
93.658 18.909 0 67294 86.203 86.203
93.659 1.417 0 5.044 6.461 6.461
93.778 36.998 0 131.672 168.670 168.670
93-XXX (9.774) 0 (34.786) (44.561) (44.561)
0 422,630
0 1.504,095 1,926,725 1.926.725
(17,078) 4.51%
110,130 60.16%
17,175 77.39%
8.670 100.00%
0 21.94%
1,799,763
641,432
3,175
227,555
3.067,288
513.527
2.007.230
505.051
568.061
42,708
744,182
5.358
368
59.662
13,614
1,679,210
1.284,089
105.510
320.816
54,265
18.909
1,417
36,998
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2007
YEAR FUND GRANT DESCRIPTION
2007 2100 Food Stamp Administration
2007 2100 Child Support Enforcement
2007 2100 Foster Care Title IV -E
2007 2100 Adoption Assistance
2007 2100 Medical Assistance Program
2007 2100 Adoption Assistance
2007 2100 Medical Assistance Program
2007 2100 Healthy Marriages Demonstration Grant
SUBTOTAL DEPARTMENT OF HEALTH AND HUMAN SERVICES
ACCRUED
(DEFERRED)
FEDERAL REVENUE
CFDA# 12/31/2 006
10.561
93.563
93.658
93.659
93.778
93.659
93.778
93.086
PASSED THROUGHT COLO DEPT OF HEALTH CARE POLICY AND FINANCE
2007 265995 Single Point Entry
2007 254905/06 EPSDT Program
PASSED THROUGH THE DEPARTMENT OF LOCAL AFFAIRS
2007 267895 Community Services Block Grant
2007 2639 10% Incentive
2007 2628 Consumer Navigator Grant
2007 2629 Consumer Navigator Grant
2007 2631 Inder Employment Grant
2007 2640 WIA Marketing
2007 1000 Community Development Block Grant/State programs
2007 1178 Homeland Security Grant Program
Total Community Services Block Grant
PASSED THROUGH THE COLORADO DEPARTMENT OF LABOR
2007 2627 Summer Job Hunt
2007 2626 UI Reimployment Services
2007 2626 Employment Service
2007 2626 10% Special Needs
2007 2636 DVOP
TOTAL PASSED THROUGH THE COLORADO DEPARTMENT OF LABOR
93.778
93.778
93.031
17.260
97.067
17.266
17.260
17.260
14.228
97.067
17.207
17.207
17.207
17.207
17.207
RECEIPTS
FEDERAL
SHARE
72,817
93,606
98.301
7.753
66,156
0 338,633
0
(140)
0
0
(3.018)
225,771
RECEIPTS
STATE
SHARE
0
0
0
0
0
0
(3.018)
RECEIPTS
LOCAL
SHARE
0
0
0
0
0
0
TOTAL
RECEIPTS EXPENDITURES
72,817
93,606
98.301
7,753
66,156
3 38.6 33
0
0 (6.035)
225,771
67.155
86,327
90.657
7,150
61.011
312,301
0
(6.178)
225,771
ACCRUED
(DEFERRED)
REVENUE
12/31/2007
Percent of
Federal Federal
Expenditure Expenditure
67,155
86,327
90,657
7,150
61,011
(26.331) 100.00%
0
(283) 50.00% -3,089
O 100.00% 225,771
838,085 17,197,792 12,076,281 7,337,817 36,611,890 36,851,358
1,077,554
(41.118)
0
10.334
0
8,163
0
0
12.369
0
0
725.101
47.978
194.290
19.416
41,850
0
0
25,064
989,130
791.886
47.978
0
0
725.101
95.956
194.290
19,416
41.850
0
0
25,064
0 989,130
0 791.886
688.113
139.843
211.431
26.373
47.654
2.852
8.000
16.873
992,300
791.886
(78.106) 100.00% 688.113
43.887 50.00% 69.921
2 7.47 5 100.00% 211.431
6,957 100.00% 26.373
13.967 100.00% 47,654
2,852 100.00% 2,852
8,000 100.00% 8.000
4,178 100.00% 16,873
3.170 100.00% 992.300
O 100.00% 791,886
30,866 2,061,636
0
0 2,061,636 2,097,369
66,599
0
4,877
114,332
0
630
33.000
15,448
585.917
25,284
3.809
33,000
15,448
585,917
25,284
3,809
33,000
10,571
632.885
25,284
3.866
O 100.00% 33,000
O 100.00% 10.571
161,300 100.00% 632.885
O 100.00% 25,284
687 100.00% 3,866
119,839
663,458 0
0 663,458
705,606
161,987
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2007
YEAR FUND GRANT DESCRIPTION
FEDERAL
CFDA#
PASSED THROUGH THE STATE OF COLORADO DEPARTMENT OF HEALTH
2007 2564 Surveys, Studies, Investigations and Special Purpose Grants 66.605
2007 2560 Performance Partnership Grants 66.605
2007 2611/14 Child and Adult Care Food Program 10.558
2007 2532 Family Planning Services 91217
2600 2532 Family Planning Program 93.977
2007 2514 Abstinence Education 93.235
2007 2536 Matemal and Child Health Services Block Grant 93.994
2007 2530 Matemal and Child Health Services Block Grant 93.994
2007 2535 Immunization Grants 93.268
2007 2516 Grants to Provide Outpatient Early Intervention w Respect to H 93.283
2007 2533 Maternal and Child Health Services Block Grant 93.994
2007 2561 Center for Disease Control and Prevention 93.283
2007 2555 Center for Disease Control and Prevention 93.283
2007 2502 Center for Disease Control and Prevention 93.283
2007 2508 Center for Disease Control and Prevention 93.283
2007 2575 Center for Disease Control and Prevention 93.283
2007 2576 Center for Disease Control and Prevention 93.283
2007 2512 Center for Disease Control and Prevention
2007 2530 Center for Disease Control and Prevention
2007 2559 Center for Disease Control and Prevention
2007 2581 Center for Disease Control and Prevention
2007 2582 Center for Disease Control and Prevention
2007 2560 Center for Disease Control and Prevention
2007 2544 Center for Disease Control and Prevention
2007 2503 State Health Planning & Development
2007 2535 Immunization Grants
2007 2554 Preventive Health and Health Services Block Grant
2007 2583 Medical Reserves Corps
2007 2500 Immunization Grants
2007 2500 Family Planning Services
TOTAL PASSED THROUGH THE STATE DEPARTMENT OF HEALTH
93.283
93.283
ACCRUED
(DEFERRED)
REVENUE
12/31/2006
22,798
0
0
24.925
0
9,361
23.542
3.781
3.950
13.667
31.566
29,925
21.672
726
0
13.260
8.914
2,118
500
RECEIPTS
FEDERAL
SHARE
52,323
3.200
260.790
105,262
1.816
38,706
164.794
3,901
48,626
105.917
76,047
29.925
57,128
726
4.878
28,503
23,120
5,957
2.750
RECEIPTS
STATE
SHARE
38,094
54,845
114.937
RECEIPTS
LOCAL
SHARE
TOTAL
RECEIPTS
ACCRUED
(DEFERRED) Percent of
REVENUE Federal Federal
EXPENDITURES 12/31/2007 Expenditure Expenditure
90.418 90.681 23,061 57.87% 52,475
3,200 3.200 0 100.00% 3,200
260.790 277.576 16.786 100.00% 277,576
160.107 135,182 0 65.74% 88.876
1,816 1.816 0 100.00% 1,816
38.706 29.345 0 100.00% 29,345
164,794 141.252 0 100.00% 141,252
3,901 120 0 100.00% 120
48,626 56.523 11.847 100.00% 56,523
105,917 102.500 10,250 100.00% 102.500
190,984 173.369 13.951 39.82% 69.033
29.925 40.161 40,161 100.00% 40,161
57,128 35,456 0 100.00% 35.456
726 0 0 100.00% 0
4,878 4,878 0 100.00% 4,878
28,503 15,243 0 100.00% 15.243
23,120 14,206 0 100.00% 14,206
5,957 3.839 0 100.00% 3,839
2,750 2.250 0 100.00% 2,250
93.283 15.235 32.399 32.399 17.164 0 100.00% 17.164
93.283 0 183.874 183.874 266.726 82,852 100.00% 266.726
93.283 0 60,358 60,358 60.358 0 100.00% 60,358
93.977 1.691 7,581 7,581 5.890 100.00% 5,890
93.977 355 355 355 0 0 100.00% 0
93.283 122,680 503.752 503,752 486.797 105,725 100.00% 486,797
91268 1,200 1200 1,200 0 0 100.00% 0
93.991 5,738 15.806 15,806 10.068 0 100.00% 10.068
93.889 0 10.000 10.000 10.000 0 100.00% 10.000
93.268 0 229.524 229,524 229.524 0 100.00% 229,524
91217 0 6.983 6.983 6.983 0 100.00% 6.983
357,604 2,066,202
207,876
0 2,274,078 2,221,107
304,633
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2007
YEAR FUND GRANT DESCRIPTION
ACCRUED ACCRUED
(DEFERRED) RECEIPTS RECEIPTS RECEIPTS (DEFERRED) Percent of
FEDERAL REVENUE FEDERAL STATE LOCAL TOTAL REVENUE Federal Federal
CFDA# 121312006 SHARE SHARE SHARE RECEIPTS EXPENDITURES 12/31/2007 Expenditure Expenditure
PASSED THROUGH COLORADO DEPARTMENT OF TRANSPORTATION
2007 2662 FTA
2007 2000 Road Contracts
2007 118606 Federal Highway Cost & Construction
20.507
20.205
181,950 246,220
O 591,097
O 0
0
246220 97,168 32,898 100.00% 97,168
591,097 591,097 0 100.00% 591,097
O 0 129.935 12 9,93 5 100.00% 129,935
TOTAL PASSED THROUGH COLORADO DEPT OF TRANSPORTATION 181,950
837,317 0
0 837,317 818,200 162,833
PASSED THROUGH THE STATE OF COLORADO DEPARTMENT OF LABOR AND EMPLOYMENT
2007 2636 WIA Adult Program
2007 2635 WIAAdmin
2007 2637 WIA Youth Activities
2007 2642 WIA Rapid Response
2007 2643 WIA Dislocated Workers
TOTAL PASSED THROUGH CDLE
PASSED THROUGH THE STATE DIVISION OF CRIMINAL JUSTICE
17.258 108,684 608.394
17.258 37.020 156,179
17.259 91,793 391,138
17.260 0 13,825
17.260 71,695 554.813
309,192 1,724,349
0
608.394 561,098 61.388 100.00% 561,098
156.179 151,942 32.783 100.00% 151,942
391,138 371.918 72,573 100.00% 371,918
13.825 13,825 0 100.00% 13,825
554,813 550.132 67,014 100.00% 550.132
0 1,724,349 1,648,915 233,758
2007 1120 Crime Victim Assistance 16.575 0 32.606
2007 1140 Violence Against Women Formula Grants 16.588 0 13.693
2007 1000 Crime Victim Compensation 16.576 (167) 0
2007 1000 Meth Lab 37.14-4 0
2007 1000 Juvenile Accountability Incentive Block Grant 16.523 1.299 0
TOTAL PASSED THROUGH THE STATE DIVISION OF CRIMINAL JUSTICE 38,276 46,299
8.152 40.758 40.758 0
4.565 18.258 18.258 0
0 0 0 (167)
O 0 336 37.480
O 0 16.259 17.558
0 12,717 59,016 75,611 54,871
PASSED THROUGH GOVERNOR'S COMMISSION ON COMMUNITY SERVICE
2007 2646 AMERICORP 94.006 31.259 101,286
TOTAL PASSED THROUGH GOVENOR'S COMMISION ON COMMUNITY SERVICE 31,259 101,286
Grand Total
0
80.00%
75.00%
0.00%
100.00%
100.00%
32.606
13.693
0
336
16.259
101,286 120.874 50.847 100.00% 120,874
0 101,286 120,874 50,847
2,687,482 45,211,425 12,375,963 7,430,997 65,018,385 64,491,715 2,160,813 44,626,768
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