HomeMy WebLinkAbout20113641.tiffCOMPREHENSIVE
ANNUM,
FINANCIAL
REPORT
COUNTY OF WELD
STATE Of COLORADO
PREPARED BY:
FINANCE/ACCOUNTING
DE PA RTMENTS
YEAR ENDED
DECEMBER 31, 2010
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TABLE OF CONTENTS
INTRODUCTORY SECTION
Table of Contents
Letter of Transmittal 1
Government Finance Officers Association Certificate
of Achievement for Excellence in Financial Reporting 10
Organization Chart 11
Principal County Officials 12
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 73
Modified Approach for Infrastructure Assets 74
i
Required Supplementary Information Other Than MD&A:
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Major Funds:
General Fund 75
Public Works Fund 80
Social Services Fund 82
Human Services Fund 84
Contingent Fund 86
Supplemental Information:
Combining Statement of Non -major Governmental Funds:
Explanation of Funds 87
Combining Balance Sheet 92
Combining Statement of Revenues, Expenditures and Changes in Fund Balance 94
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Capital Expenditures Fund 96
Non -major Governmental Funds:
Special Revenue Funds:
Conservation Trust Fund 97
Emergency Fund 98
Public Health Fund 99
Solid Waste Fund 100
Bebee Draw Fund 101
Pioneer Community Law Enforcement Fund 102
South West Law Enforcement Fund 103
Component Units:
Housing Authority 104
E-911 Authority Fund 105
Local Highway Finance Report 106
Combining Statements of Internal Service Funds:
Combining Statement of Net Assets - Internal Service Funds 108
Combining Statement of Revenues, Expenses and Changes in
Net Assets - Internal Service Funds 110
Combining Statement of Cash Flows - Internal Service Funds 112
Combining Statement of Fiduciary Funds:
Combining Statement of Changes in Assets and Liabilities - Fiduciary Funds 114
11
Schedule of Revenues, Expenses and Changes in Net Assets -Actual and Budget
Enterprise Fund and Internal Service Funds:
Enterprise Fund:
Paramedic Services 1 15
Internal Service Funds:
Motor Vehicle Fund 116
Health Insurance Fund 117
Insurance Fund 118
Phone Service Fund 119
STATISTICAL SECTION
Net Assets by Component 122
Changes in Net Assets 124
Fund Balances of Governmental Funds 126
Changes in Fund Balances, Governmental Funds 128
Assessed and Estimated Actual Value of Property 130
Property Tax Levies - Direct and Overlapping Governments 132
Principal Taxpayers 133
Property Tax Levies and Collections 134
Direct and Overlapping Governmental Activities Debt 135
Legal Debt Margin Information 136
Private Purpose Revenue Bonds 138
Demographic and Economic Statistics 139
Principal Employers 140
Full-time Equivalent Employees by Function/Program 142
Operating Indicators by Function/Program 144
Capital Asset by Function/Program 146
Insurance in Force 148
SINGLE AUDIT
Schedule of Expenditures of Federal Awards 149
Notes to Schedule of Expenditures of Federal Awards 154
Report on Compliance and on Internal Control Over Financial Reporting
Based on an Audit of Financial Statements Performed in Accordance with
Governmental Auditing Standards 155
Report on Compliance with Requirements That Could Have a Direct and Material Effect
on Each Major Program and Internal Control over Compliance
in Accordance with OMB Circular A-133 157
Schedule of Findings and Questioned Costs 159
Summary Schedule of Prior Audit Findings 163
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WE LD_ CO U NTY
LJ
June 15, 2011
Honorable Board of Commissioners
County of Weld
915 10th Street
Greeley, CO 80631
Dear Board Members:
DEPARTMENT OF FINANCE
AND ADMINISTRATION
PHONE (970) 356-4000, EXT.4218
FAX: (970) 352-0242
P.O. BOX 758
GREELEY, COLORADO 80632
The Comprehensive Annual Financial Report of the County of Weld, State of
Colorado for the fiscal year ended December 31, 2010, is hereby submitted.
Responsibility for both the accuracy of the data, and the completeness and
fairness of the presentation, including all disclosures, rests with the County. To
the best of our knowledge and belief, the enclosed data is accurate in all
material respects and is reported in a manner designed to present fairly the
financial position and results of operations of the various funds and account
groups of the County. The assurance of the accuracy in the County financial
report is a result of the County's internal controls. The controls have been
developed to provide accurate information on an efficient and cost-effective
basis. All disclosures necessary to enable the reader to gain an understanding
of the County's financial activities have been included.
With the December 31, 2010 financial statements, Weld County has elected to
continue a significant change in government financial reporting. The purpose of
these changes, which were developed by the Governmental Accounting
Standards Board (GASB), is to provide better and more complete information to
the users of governmental financial statements. In addition to changes to the
basic financial statements, the statements are now accompanied by an
introduction, overview, and analysis, referred to as "Management's Discussion
and Analysis" (MD&A). This letter of transmittal is designed to complement the
MD&A and should be read in conjunction with it. The MD&A can be found in
the Financial Section immediately following the independent auditor's report.
The County provides the full range of county services contemplated by statute
or charter. These include general government functions, public protection and
safety, health, social services, human resource services, public improvements,
road and bridge operations, planning and zoning, and general administrative
services.
Honorable Board of Commissioners
This report includes all activities for which the Board of County Commissioners
is accountable to the citizens of Weld County, financially, or by State Statute or
the Weld County Home Rule Charter. All applicable funds, departments, and
offices are included in these financial statements as part of the "primary
government" of Weld County. In addition, there are several legally separate
entities that have significant operational or financial relationships with the
County. These include the Weld County Housing Authority, Weld County
Retirement Plan, Beebe Draw Law Enforcement Authority, Pioneer Community
Law Enforcement Authority, Southwest Weld Law Enforcement authority, Weld
County Finance Corporation, and E-911 Authority. These entities are also
included in the County's financial statements.
INDEPENDENT AUDIT
Colorado law requires that the County's financial statements be audited by an
independent certified public accountant or firm of certified public accountants
licensed to practice in the State of Colorado. The county's financial statements
have been audited by McGee, Hearne & Paiz, LLP 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, 2010, 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
Honorable Board of Commissioners
largest county in Colorado, Weld County has an area greater than that of
Rhode Island, Delaware and the District of Columbia combined.
The climate is dry and generally mild with warm summers, mild winters and a
growing season of approximately 138 days. The land surface is fairly level in
the east, with rolling prairies and low hills near the western border. Elevations
in the county range from 4,400 to 5,000 feet.
The South Platte River and its tributaries, the Cache la Poudre, Big Thompson,
Little Thompson, Boulder, St. Vrain, and other smaller streams, flow into Weld
County from the south and west, leaving the county on the east.
There are 31 incorporated towns in Weld County. The county seat and
principal city, Greeley, is located in the west central part of the county and
contains almost half the county's population. Generally, most of the remaining
population resides within a 20 to 30 mile radius of Greeley; the northeastern
part of the county is sparsely populated. Southwest Weld County is one of the
fastest growing areas in the state due to its proximity to the north Denver metro
area. The county's population in 2010 was approximately 252,825.
COUNTY GOVERNMENT
County Services. Weld County provides the full range of services contemplated by State
Statute and the Weld County Home Rule Charter. Services include:
4 Judicial and public safety - - consisting of the Sheriff, District Attorney, operation and
maintenance of the detention center, and building inspection.
4 Health, employment, and social services.
a Planning and zoning.
a Construction, reconstruction and maintenance of streets, highways, and bridges.
a Parks and recreation.
4 Property valuation, tax collection and distribution, and vehicle licensing.
General administrative services.
County Operating Structure. Weld County became Colorado's first Home Rule County in
1976. The County is governed by a five -member Board of County Commissioners. Three
Commissioners are elected by districts of relatively equal population and two Commissioners
are elected at large. They serve staggered four-year terms and function as the County's
policymaking body. Each Commissioner coordinates one of five functions of the County. The
County is also served by four other elected officials: assessor, clerk and recorder, district
attorney, and sheriff. Weld County also has a five -member, non-partisan, elected body that is
charged to review all aspects of County government and to make periodic written reports to the
public. The Commissioners appoint department heads to be responsible for the various day-to-
day operations.
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Honorable Board of Commissioners
Budgeting. The County Commissioners annually adopt budgets by department for all
governmental and proprietary funds. Budgets are controlled by the major object categories of
Personnel, Operating Costs, and Capital Outlay. Control is maintained by the three categories
at the division/department level in the General Fund and at the fund level in all other funds.
Supplemental appropriations are approved by the Board of County Commissioners as needed
during the year to provide for those items that were unknown or unforeseen at the time the
budget was originally adopted.
County Employment. Weld County government employs 1,337 regular staff (those receiving
standard benefits) and 125 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 2010, 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 2010:
a Continued Implementation of Human Capital Management Strategy.
Implemented the new Strategic Plan approach.
Constructed and opened a Community Corrections facility.
Implemented the new Pre -Trial Services Program.
Identified technology uses to improve services and cost-effectiveness of services.
Implemented a Master Gardner Program in Extension Office.
Continued implementation of e -government strategy.
Remodeled an office building to create the new employee health clinic
Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
a Continue to develop plans for the County for bioterrorism and emergency preparedness.
Implemented the fourth year of the five-year Support Healthy Marriages Grant.
Head Start was relinquished back to the Federal Government.
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FACTORS AFFECTING FINANCIAL CONDITION
Economic Conditions and Outlook.
The national and state economies are slowly startg to show improving economic conditions.
Colorado continues to fare better relative to the rest of the country, but is still not without its own
unique challenges. Even though the state is seeing improving conditions in personal income,
employment growth remains weak. The recession was late to hit Colorado and it is yet to be
determined whether the State will lead or lag the national recovery.
The employment situation at both the national and State levels continue to be the largest
economic concern as the nation begins it slow recovery out of the recession. The
unemployment rate in Colorado has averaged 7.9 percent during 2010, which is close to two
percent below the national rate. Slowly improving labor market conditions will keep the
forecasted Colorado unemployment rate above six percent through 2013. Weld County's
unemployment rate has been running about two percentage points higher than the Colorado
state average, which is closer to the national average.
Colorado personal income is forecast to increase by 3.5 percent in 2010. Personal income is
closely linked to employment growth in Colorado. As the employment situation improves and
Colorado begins to experience consistent job growth, personal income should benefit. Colorado
personal income is forecast to grow at the 3.5 percent rate for 2011 and increase to four percent
in 2012.
The effects of the recession have had a negative effect on retail trade in Colorado. In 2009,
there was an 11.5 percent decrease in retail trade activity. Weak labor market conditions,
reduction in personal income, and overall decrease in consumer confidence played a large part
in the precipitous drop. The forecast for 2010 has retail trade recovery at a slow pace of 3.6
percent. The modest increase is in large part due to the slow recovery in employment. The
forecast for 2011 has retail trade increasing five percent in 2011 and seven percent in 2012.
Construction in Colorado, including Weld County, has been hit hard by the recession.
Nonresidential construction has experienced back-to-back contractions of 12.5 percent
and 22.4 percent during 2008 and 2009. Conditions are mixed for Colorado moving forward.
Historically low interest rates bode well for new capital construction, but the difficulty in obtaining
financing will continue to be an overarching constraint in 2011. Residential housing permits in
Colorado ended down 50.5 percent in 2009. There is projected to be slight increases to the
lower 2009 base in 2010 and 2011; however, the permit levels prior to the recession are not
projected to return for three to five years.
Home prices have declined in Colorado and in Weld County in the last three years. Month -to -
month changes still show declining prices, albeit at a decreasing rate. Many economists fear
that the housing slump is not over and predictsaal possibility of some more price decline.
They note that the end of the federal tax credit, weak job growth, tighter credit and millions more
foreclosures ahead will weigh on the home market and housing values.
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Honorable Board of Commissioners
None of the economic news concerning construction, slump in housing prices, and drop in
commercial property values bode well for Weld County as the county faces a reappraisal year in
2011 that will mostly see assessed values for real property drop, which will adversely impact the
funding of the 2012 budget.
As is the case at the national level, inflation expectations in Colorado are quite moderate in the
near term. 2009 realized an annual deflation rate of 0.7 percent in Colorado. Sluggish
employment growth and weak personal consumption should hold inflation below the historical
average for the remainder of 2010, with a projected 1.5 percent annual inflation rate in
Colorado. Inflation rates of 2.1 percent are projected for 2011 and 2.5 percent thereafter for
2012 and 2013. Since the recession started, population growth dropped to 1.7 percent and is
forecast to remain near 1.7 percent through 2013.
Interest rates affect virtually every component of aggregate demand, which is why interest rates
set by the Federal Reserve are so important to the economy. The forecast from most
economists project the federal funds rate to average 0.2 percent for the remainder of 2010 and
1.6 percent in 2011. Thirty year Treasury constant maturity rates are also expected to increase
as the economy recovers. While it is widely expected that the Federal Reserve will eventually
raise interest rates, the timing of such an action is difficult to determine. Currently, many
economists are predicting a significant upward adjustment beginning in 2012 to 3.6% before the
rate stabilizes.
Improvement in the current economic conditiosi expected to occur gradually as the labor
market recovers and consumer spending continues to improve. However, uncertainty continues
to characterize the national economy, which apples with exceptional unemployment rates.
Economic indicators consistently present varied indications of where the economy is headed in
2011 and beyond. Changes in central bank policies, the global debt crisis, fiscal policies, and
banking sector difficulties could significantly affect economic forecast expectation either
positively or negatively, which in turn will affect economic expectations for the Colorado
economy and Weld County's local economy. One thing most economists agree upon is that the
recovery from the recent recession is going to be at a much slower rate than historical
recoveries, and the full recovery could take up to five years.
For the Future. In 2009 the Weld County policy makers and managers recognized the next
three to four years were going to take extra efforts on everyone's part to deliver conservative
and balanced budgets. Based upon reasonable projections of future assessed values and
demand for services, it became essential to develop budgets that tighten county government's
belt, focus on critical services, and reflect the needs of the citizens of Weld County. While
continuing to weather these economic times over the next few years, the budget must continue
to deliver essential services and also make strategic investments in human capital management
and the county's infrastructure so our county is well -positioned for a strong economic rebound
when the downturn becomes an upturn.
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Honorable Board of Commissioners
As recognized in 2009, the main issues facing Weld County continue to be impacts related to
the drop in housing and commercial property values, and the volatility of the price and
production of oil and gas on Weld County's assessed value. The biggest problem comes in
configuring the 2011 budget, because with the drop in oil and gas prices in 2009, the oil and gas
assessed value will drop back below 2007 levels. The assessed value situation is a
combination of being a structural and cyclical budget problem. Based upon an assessed value
forecast residential property will continue dropping due to the housing market's bubble bursting,
resulting in a projected 10-15 percent drop in average housing prices in Weld County for the
2011 reappraisal year. Then, as the cycle corrects itself, the values should be stable or be
slightly recovered for the future reappraisal years. However, one must be cautioned that
commercial property values most likely will drop as much as 15 percent with the 2011
reappraisal. Hopefully, after 2013 residential and commercial property values and new
construction will return to a more historic stable and predictable level.
Even though oil and gas assessed values are down for the 2011 budget, the good news in
looking at future projections of assessed values for Weld County is that they may increase for
the 2012 budget. Oil and gas assessed values for the 2011 budget, due to the drop in
commodity prices in 2009, are down over 40 percent over the prior year. However, oil prices in
2010 are stabilizing at their historical levels of over $70 per barrel, which could result in a 20-30
percent increase in the assessed value for oil and gas for the 2012 budget. In addition, new
energy discoveries in northeastern Weld County could bode well long-term for oil and gas
production in the area.
Although the financial health of Weld County government is currently excellent, it is important to
look to the future issues, possible problems and alternative solutions to these problems.
Besides the traditional role of budgeting to responsibly manage available current year funding,
there must be a continued emphasis of long-term planning, recognition of the cumulative effect
of individual decisions, an awareness of changing realities, flexibility, citizen input in setting
priorities, and a focus of goals and objectives consistent with the core services philosophy and
mission statement.
There are a number of future issues and concerns impacting Weld County's budget in 2011 and
subsequent fiscal years. According to leading economists, the economy is starting to recover
with some signs of steady growth projected for 2010 and 2011. The target economic growth for
both 2011 and 2012 is 3.1 percent, which is a marked improvement from last year's when the
economy was contracting. Most economists in a recent NABE survey expect the recovery to be
led by businesses with an estimated annual corporate earnings growth of 15 percent the next
two years, which will spur hiring and ultimately bolster household spending. However, the same
economists expect jobs will return slowly.
Although the recession may be technically over there is a concern the recession may cast a
long shadow on job recovery in America. Many economists fear the country may be moving into
an era of high joblessness and underemployment. The unemployment rate was 9.7 percent at
the end of 2010. There are good reasons to believe that from 2011-2014 it may decline only a
little. Many fear companies are more interested in growing business through more efficient
operations, the use of technology, or acquisitions, rather than through accelerated hiring. These
measures suggest no quick rebound in the job market locally, statewide, or nationally. The high
joblessness will be a two-edged sword for Weld County's finances. On the positive side it will
slow the pressure on labor costs growing, but will most certainly increase public assistance
costs in the form of growing caseloads and additional welfare benefit costs. Fortunately, the jail
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Honorable Board of Commissioners
inmate population projections have slowed to a pace that will allow the county to delay
construction of the next jail pod until 2015, or later. This savings, along with the purchase of the
Sykes Building in the Weld Business Park, saves over $6.5 million in future capital costs and will
allow for the costs of the 2011-2018 Capital Improvement Plan (CIP) to be reduced by $700,000
annually. The $700,000 in property tax saved from the CIP can be shifted from the Capital
Expenditure Fund to the Social Services Fund to absorb some of the increased welfare costs.
New construction of residential and commercial properties is projected to remain weak for the
next 2-3 years, especially residential construction. With one out of seven housing units vacant
in the nation, the primary reason new home sales are so weak is that too many existing homes
are for sale. This bloated existing inventory has driven home prices to a level where it does not
make sense to build new homes in most markets. This national phenomenon exists in the local
Weld County housing market and will most likely translate into a weak housing construction
market for the next few years and slower growth in the county. The slow growth will mean fewer
new demands for services; however, on the other side of the budget equation the assessed
value increases of the last decade that support county services will not occur.
With the national economy, the housing crisis and credit crunch, there are many uncertainties
as we face 2011. Besides the domestic economic issues, the international issues, such as the
Iraqi and Afghan Wars, have impacted the federal budget and the deficit. The federal
government will have to eventuallyleal with the large deficit spending of the last few years.
One area that will most likely impact Weld County funding is the almost certain reduction in
domestic program spending at the federal level as the deficit is addressed. In addition, the
State of Colorado is projecting that state government will struggle to balance its budget for the
next few years until state sales and income tax revenues recover. Therefore, the solutions to
the state and federal budget problems, as they impact Weld County, will have to be solved
locally.
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, 2009. This was the twenty-eighth 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 2010 annual appropriated budget for nearly thirty consecutive years. In order to qualify
for the Distinguished Budget Presentation Award, the County's budget document was judged to
be proficient in several categories including policy documentation, financial planning, and
organization.
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Honorable Board of Commissioners
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 2010 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, 2010. 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,
•
Monic Daniels -Mika, Director
Financ and Administration
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
County of Weld
Colorado
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2009
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting_
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COUNTY OF WELD
STATE OF COLORADO
PRINCIPAL COUNTY OFFICIALS
December 31, 2010
Board of County Commissioners
Barb Kirkmeyer
Sean Conway
Douglas Rademacher
David Long
Bill Garcia
County Clerk and Recorder
Steve Moreno
County Assessor
Christopher M. Woodruff
County Sheriff
John Cooke
Director of Finance & Administration
Monica Daniels -Mika
Controller
Barbara Connolly
Treasurer
John R. Lefebvre, Jr.
12
FINANCIAL
SECTION
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AlFjp McGee, Hearne & Paiz, LLP
Certified Public Accountants and Consultants
314 West 18th Street, Cheyenne, Wyoming 82001-4404
INDEPENDENT AUDITOR'S REPORT
Board of County Commissioners
Weld County, Colorado
Greeley, Colorado
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate discretely presented component units and remaining fund
information of Weld County, Colorado (the "County") as of and for the year ended December 31, 2010,
which collectively comprise the County's basic financial statements as listed in the table of contents.
These financial statements are the responsibility of the County's management. Our responsibility is to
express opinions on these financial statements based on our audit. We did not audit the financial
statements of Weld County Housing Authority (the "Authority"), a discretely presented component unit.
The Authority's financial statements were audited by other auditors whose report thereon has been
furnished to us, and our opinion, insofar as it relates to the amounts included for the Authority, is based
on the report of the other auditors.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the County's internal control over financial reporting. Accordingly, we
express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for our opinions.
In our opinion, based on our audit and the report of other auditors, the financial statements referred to
above present fairly, in all material respects, the respective financial position of the governmental
activities, the business -type activities, each major fund, and the aggregate discretely presented component
units and remaining fund information of the County as of December 31, 2010, and the respective changes
in financial position and cash flows, where applicable, thereof for the year then ended in conformity with
accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated June 15, 2011
on our consideration of the County's internal control over financial reporting and our tests of its
compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters.
The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on the internal
control over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards and should be considered in assessing the results of our
audit.
13
Management's discussion and analysis on pages 15 through 24, the schedules of funding progress and
employer contributions, the condition assessments of infrastructure, and the budgetary comparison
schedules on pages 73 through 86 are not a required part of the basic financial statements, but are
supplementary information required by accounting principles generally accepted in the United States of
America. We and the other auditors have applied certain limited procedures, which consisted principally
of inquiries of management regarding the methods of measurement and presentation of the required
supplementary information. However, we did not audit the information and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the County's basic financial statements. The introductory section; combining and individual
nonmajor fund financial statements; nonmajor fund budgetary comparison information; Local Highway
Finance Report; schedule of expenditures of Federal awards, as required by the U.S. Office of
Management and Budget Circular A-133, Audits of States, Local Governments, and Nonprofit
Organizations; and statistical tables are presented for purposes of additional analysis and are not a
required part of the basic financial statements. The combining and individual nonmajor fund financial
statements, Local Highway Finance Report, budgetary comparison information, and the schedule of
expenditures of Federal awards have been subjected to the auditing procedures applied by us and the other
auditors in the audit of the basic financial statements and, in our opinion, based on our audit and the
report of other auditors, are fairly stated in all material respects in relation to the basic financial
statements taken as a whole. The introductory section and statistical tables have not been subjected to the
auditing procedures applied by us and the other auditors in the audit of the basic financial statements and,
accordingly, we express no opinion on them.
P
Cheyenne, Wyoming
June 15, 2011
14
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, 2010. 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 $341.1 million at the end of 2010. Of this amount,
$69.3 million may be used to meet the government's ongoing obligations to citizens and
creditors. The remaining $271.8 million is invested in capital assets or restricted by law.
The County's General Fund balance was $11.8 million as of December 31, 2010. Of this
amount, $1.9 million is reserved for inventories, advances, and encumbrances.
The 2010 General Fund balance is $1.0 million higher than in the previous year. The total fund
balance is 14.6% of 2010 General Fund operating expenditures plus net operating transfers.
The County Commissioners' goal is to keep fund balance at no less than 5%. The Board has
not budgeted any expenditures from fund balance in 2011.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the County's basic financial
statements. The basic financial statements contain three components: 1) government -wide financial
statements, 2) fund financial statements, and 3) notes to the financial statements. In addition to the
basic statements, this report also contains other supplementary information including combining
statements for non -major funds, a statistical section, and information regarding federal grant
programs.
Government -wide Financial Statements. The government -wide financial statements are designed
to provide readers with a broad overview of the County's finances in a manner similar to a private
sector business.
The statement of net assets presents information on all of the County's assets and liabilities, with
the difference between the two reported as net assets. Over time, increases or decreases in net
assets may serve as a useful indicator of whether the County's financial position is improving or
deteriorating.
The statement of activities presents information showing how the government's net assets changed
during the fiscal year. All changes in net assets are reported as soon as the underlying event giving
rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and
expenses are reported in the statement for some items that will only result in cash flows in future
fiscal periods (e.g., uncollected taxes).
15
Both of the government -wide financial statements distinguish functions of the County that are
principally supported by taxes and intergovernmental revenues (governmental activities)from other
functions that are intended to recover all or a significant portion of their costs through user fees and
charges (business -type activities). Weld County's governmental activities include general
government, public safety, roads and bridges, auxiliary, culture and recreation, and health and
human services. The County has one business type activity — operation of the paramedic services.
The government -wide financial statements include not only Weld County itself (known as the
primary government), but also legally separate entities which have a significant operational or
financial relationship with the County. These entities, known as blended component units, include
local improvement districts, Finance Corporation, Weld County Retirement Plan, Pioneer Law
Enforcement Authority, Southwest Weld Law Enforcement Authority and Beebe Draw Law
Enforcement Authority. Discretely presented component units are Housing Authority and E-911
Emergency. More information on the functions of these entities can be found in Note 1 to the
financial statements.
Fund financial statements. A fund is a grouping of related accounts that is used to maintain
control over resources that have been segregated for specific activities or objectives. Weld County,
like other state and local governments, uses fund accounting to ensure and demonstrate
compliance with finance -related legal requirements. All of the funds of Weld County can be divided
into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government -wide financial statements. However, unlike
the government -wide financial statements, governmental fund financial statements focus on near -
term inflows and outflows of spendable resources, as well as on balances of spendable resources
available at the end of the fiscal year. Such information may be useful in evaluating a government's
near -term financing requirements.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government -wide financial statements. By
doing so, readers may better understand the long-term impact of the government's near -term
financing decisions. Both the governmental fund balance sheet and the governmental fund
statement of revenues, expenditures, and changes in fund balances provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities.
Weld County maintains eleven individual governmental funds. Information is presented separately
in the governmental funds balance sheet and in the governmental funds statement of revenues,
expenditures, and changes in fund balances for the General Fund, Public Works Fund, Social
Services Fund, Human Services Fund, Capital Expenditures, and Contingent Fund, all of which are
considered to be major funds. Data from the other five funds are combined into a single,
aggregated presentation. Individual fund data for each of these non -major funds is provided in the
form of combining statements elsewhere in this report.
The basic governmental fund financial statements can be found on pages 25 through 34 of this
report.
16
Proprietary funds. Weld County maintains two different types of proprietary funds. Enterprise
funds are used to report the same functions presented as business -type activities in the
government -wide financial statements. Weld County has one enterprise fund, the Paramedic
Services Fund. Internal service funds are an accounting device used to accumulate and allocate
costs internally among the County's various functions. Weld County uses internal service funds to
account for its fleet maintenance, phone services, Weld Finance Corporation, and self-insurance
activities. Because these services predominantly benefit governmental rather than business -type
functions, they have been mostly included within governmental activities in the government -wide
financial statements.
Proprietary funds provide the same type of information as the government -wide financial
statements, only in more detail. The proprietary fund financial statements provide separate
information for the Paramedic Services Fund, which is considered to be a major fund of the County.
The remaining proprietary funds, all of which are in ternal service funds, are combined into a single,
aggregated presentation in the proprietary fund financial statements. Individual fund data for each
of these non -major funds is provided in the form of combining statements elsewhere in this report.
The basic proprietary fund financial statements can be found on pages 35 through 37 of this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties
outside the government. Fiduciary funds are not included in the government -wide financial
statements because the resources of these funds are not available to support Weld County's own
operations. The accounting used for fiduciary funds is much like that used for proprietary funds.
The basic fiduciary fund financial statements can be found on page 38 through 39.
Budgetary Comparisons. Weld County adopts an annual appropriated budget for all of its funds. A
budgetary comparison statement has been provided for all major funds on pages 75 to 86 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 41 through 72 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 92 through 103 and 108 through 119 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, 2010, assets exceeded liabilities by $341.1
million.
The following table provides a summary of the County's governmental and business -type net assets
for 2009 and 2010.
17
Table 1
Net Assets
(in Millions)
Governmental Activities Business -type Activities Total
2009 2010 2009 2010 2009 2010
Assets
Current and other assets
Capital assets
Total assets
Liabilities
Current and other liabilities
Long-term liabilities
Total liabilities
Net Assets
Invested in capital assets
Restricted
Unrestricted
Total net assets
$177.42 $186.67 $2.85 $3.60 $180.27 $190.27
256.83 254.89 1.01 1.31 257.84 256.20
$434.25 $441.56 $3.86 $4.91 $438.11 $446.47
$116.52 $96.74 $.37 $.41 $116.89 $97.15
7.29 8.20 .00 .00 7.29 8.20
$123.81 $ 104.94
$.37 $ .41 $124.18 $105.35
$256.83 $254.89 $1.01 $1.31 $257.84 256.20
12.79 15.65 .00 .00 12.79 15.65
40.82 66.08 2.48 3.19 43.30 69.27
$310.44 $336.62 $3.49 $4.50 $313.93 $341.12
A significant portion of Weld County's net assets (20.3%) represents unrestricted net assets of
$69.27 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 (75.1%) reflects its investment in capital
assets. These assets include land, buildings, machinery, equipment and infrastructure. These
capital assets are used to provide services to citizens; consequently, they are not available for
future spending. Although the investment in capital assets is reported net of related debt, it should
be noted that the resources needed to repay this debt must be provided from other sources since
the capital assets themselves cannot be used to liquidate these liabilities.
An additional $15.65 million of the County's net assets (4.6%) represents resources that are subject
to external restrictions on how they may be used. Included in this category are the TABOR
emergency reserve of $6.0 million and $4.73 million in reserves for insurance claims.
At the end of 2010 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 $27.19 million in 2010. The following table indicates the changes in net assets for
governmental and business -type activities in 2009 and 2010.
18
Changes in Net Assets
(in Millions)
Governmental Activities Business -type Activities Total
Revenues
Program revenues:
Charges for services
Operating grants and contributions
Capital grants and contributions
General revenues:
Property taxes
Other taxes
Other revenues
Total revenues
Expenses
General government
Public safety
Streets and highways
Culture and recreation
Health & Welfare
Economic Assist
Paramedic services
Total expenses
Increase (decrease) in net assets
before Transfers
Transfers
Increase (decrease) in net assets
Net Assets Beginning
Net Assets Ending
2009
2010 2009 2010 2009 2010
$ 40.23 $ 41.77 $7.48 $5.81 $47.71 $ 47.58
36.57 27.86 .09 0.05 36.66 27.91
0.00 0.00 0.00 0.00 0.00 0.00
75.05 95.25 0.00 0.00 75.05 95.25
9.64 6.86 0.00 0.00 9.64 6.86
9.57 11.08 0.00 0.00 9.57 11.08
$171.06 $182.82
$7.57 $5.86
$178.63 $188.68
$31.74
40.65
31.12
1.01
39.88
15.55
0.00
$ 31.50
40.55
34.67
1.21
37.95
9.26
0.00
$0.00
0.00
0.00
0.00
0.00
0.00
9.31
$0.00
0.00
0.00
0.00
0.00
0.00
6.35
$31.74
40.65
31.12
1.01
39.88
15.55
9.31
$ 31.50
40.55
34.67
1.21
37.95
9.26
6.35
$159.95
$155.14 $9.29 $6.35 $169.26 $161.49
11.11 27.68
(1.38) (1.50)
(1.74) (.49)
1.38 1.50
9.37 27.19
0.00 0.00
9.73 26.18
(0.36) 1.01
9.37 27.19
300.71 310.44 3.85 3.49 304.56 313.93
$310.44 $336.62 $3.49 $4.50 $313.93 $341.12
Governmental Activities. Governmental activities increased Weld County's net assets by $26.18
million in 2010. Key elements of this increase are as follows:
Total revenues were up $11.76 million, 6.87% from the prior year, primarily due to an increase
in property taxes ($20.20 million) and decrease in operating grants revenue ($8.71 million)
Expenses totaled $155.14 million. This represents a 3.01% decrease, with an increase in
streets and highways ($3.55 million) and a decrease in health and welfare ($1.93 million) and
economic assistance expenditures ($6.29 million).
Business -Type Activities. The County's only business -type activity, Paramedic Services, increased
net assets in 2010 by $1.01 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 2010, the combined ending fund balances of County governmental funds was
$83.11 million. Approximately 89.14% 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 ($1.38 million); 2) a
state -constitution mandated emergency reserve ($6.0 million); and 3) prepaid expenses and
inventory ($1.64 million).
The County has six major governmental funds. These are 1) General Fund; 2) Public Works Fund;
3) Social Services Fund; 4) Human Services Fund; 5) the Contingent Fund; 6) Capital Expenditures
Fund.
1. General Fund. This is the primary operating fund of the Weld County Government. It
accounts for many of the County's core services, such as law enforcement, planning, and
elections. The general fund balance was $11.85 million as of December 31, 2010. The
2010 fund balance went up $1.04 million, which is slightly lower than the previous year due
transfers to other funds. The transfers were funded by use of some of the fund balance and
the added revenues from oil and gas mineral leasing revenues, jail revenues, building
inspection fees from oil and gas wells, and various departments under spending. As a
measure of the general fund's liquidity, it may be useful to compare both unreserved fund
balance and total fund balance to total fund expenditures. Unreserved fund balance
represents 13.84% of total 2010 expenditures, while total fund balance is 16.46% 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 $25.07 million in fund balance at the end of 2010. This amount was $1.79 million
more than the previous year. 2010 expenditures for road projects were less than budgeted
as some projects were delayed, and revenues from highway user taxes due to the new
FASTER legislation was higher than anticipated. In addition the new formula for severance
tax resulted in a significant increase in the severance tax distribution to the county.
3. Social Services Fund. The Social Services Fund is mandated by State Statute. This fund
accounts for the local share of many Federal and State public welfare programs. The fund
carried a $2.68 million balance at the end of 2010 which is $1.56 higher than 2009. Due to
the recession caseloads and costs were up for 2010. Transfers of $1.00 million from the
General Fund in 2010 and supplemental state allocations for child welfare are responsible
for the increase in fund balance.
70
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.
6. Contingent Fund. The Contingent Fund records any property tax revenue levied by the
Board of County Commissioners to cover reasonable unforeseen expenditures. The fund
balance increased by $20.5 million due to the one time increased assessed value from oil
and gas assessed values due to high energy prices in 2008.
5. Capital Expenditure Fund. The Capital Expenditure Fund accounts for the construction of
major capital facilities. These are the purchase of the new administration building in the
Weld business park, office building, completion of the construction of the Community
Corrections facility, and the remodel of th new employee health clinic.
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. Net assets of the fund at
the end of the year amounted to ($4.50 million). The total increase in net assets for the fund was
$1.01 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, 2009 and 2010
28
26
24
22
20
18
N 16
•� 14
5 12
10
8
6
4
2
0
General Public Social Human Contingent Capital Other
Fund Works Services Services Fund Projects Govt.
Funds
2009
112010
21
The County's budget is prepared according to Colorado statutes. The most significant budgeted
fund is the General Fund.
In December of 2009, the Board of County Commissioners appropriated $72.89 million for general
fund expenditures and other financing uses for 2010.
Revenue and other financing sources
Expenditures and other financing uses
Table 3
2010 General Fund Budget
(in Millions)
Original Budget Amendments Final Budget
$ 74.71 $ 5.65 $ 80.36
Actual
$ 82.03
$ 72.89 $ 10.86
$ 83.75 $ 80.99
During 2010 mid -year budget amendments included:
$1.5 million in transfers and fund balance for Paramedic Services subsidy
C $1.0 million transferred to Insurance Fund to increase reserves
4 $1.0 million transferred to Social Services Fund due to caseload increases
$2.5million transferred to Capital Expenditure Fund for purchase of the administration building in
the Weld Business Park
$0.86 million for federal stimulus (ARRA) grant for energy conservation
Supplemental appropriations were made to various departments for salary and benefit
reallocations.
The increase was possible because of excess fund balance, various departments under spending
their budgets, and additional unanticipated revenues. Those revenues include oil and gas mineral
leasing ($1.8 million), building inspection fees from oil and gas wells ($1.43 million) and, jail
revenue ($0.42 million).
77
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, 2010 totals $256.20 million (net of accumulated depreciation). This
investment includes all land, buildings, machinery, equipment, and infrastructure. The total
decrease in investment in capital assets for the current fiscal year was .64%.
Major capital asset events during the current fiscal year including the following:
Road construction or major improvements totaling $10.50 million.
Completed Community Corrections facility of $2.2 million
c, Completed the remodel of four courtrooms $2.98 million
c Purchased and began remodel of the new administration building in the Weld Business Park of
$3.6 million
Remodeled an existing office to create the new employee medical clinic $0.55 million
The County implemented the "depreciation method" under GASB 34 for its road and bridge
infrastructure assets, except for the gravel roads, where the "modified approach" was used. The
County's policy is to maintain gravel roads at a condition of fair or better. This level of condition is
being maintained consistently on over 98.0% of miles of road.
Additional information on the County's capital assets can be found in Note 6 of this report.
Construction commitments are discussed in Note 11.
Long-term Debt. At December 31, 2010, Weld County had no outstanding long-term debt or debt
from Certificates of Participation (COP). The last COP was paid of early on August 1, 2007.
The Weld County Home Rule Charter provides for a general obligation debt limit of 3% of assessed
valuation. The county had a general obligation debt capacity of $173.0 million in 2010. The county
currently has no debt subject to the limitation. No new debt was issued in 2010.
Additional information on Weld County's debt can be found in Note 8.
Other Matters. The following factors are expected to have a significant effect on the County's
financial position or results of operations and were taken into account in developing the 2011
budget.
Continue Implementation of Human Capital Management Strategy.
Implement second year of the new Strategic Plan approach.
Open a new Administration facility.
Implement Criminal Justice Planner strategtp coordinate the Criminal Justice System
in the county.
7n
J
Implement new criminhstice computer system.
Identify technology uses to improve services and cost-effectiveness of services.
Continue implementation of e -government strategy.
r
r
Operate Weld County Regional Communications Center under new IGA.
Upgrade the towers and county -wide communications system.
Continue to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
Implement the fifth year of the five-year Support Healthy Marriages Grant.
Implement cost containment and revenue strategies to mitigate growing cost of Human
Services programs.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of Weld County's finances for all
those with an interest in the government's finances. Questions concerning any of the information
provided in this or for additional financial information should be addressed to the Director of Finance
and Administration, 915 10th Street, Greeley, CO 80631. Request for additional information
regarding the Housing Authority should be addressed to Tom Teixeira, Executive Director, Weld
Housing Authority, 903 6th Street, Greeley, CO 80631.
24
BASIC
FINANCIAL
STATEMENTS
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
December 31, 2010
ASSETS
Cash and cash equivalents
Property taxes receivable
Receivables (net of allowance for
uncollectibles)
Due from other governments
Internal balance
Inventories
Other assets
Net other post employment benefits asset
Restricted assets:
Cash and cash equivalents
Capital Assets not depreciated
Capital Assets - net of accumulated depreciation
Total assets
LIABILITIES
Accounts payable and other current liabilities
Accrued liabilities
Due to other governments
Unearned revenue
Other liabilities
Long-term liabilities:
Due within one year:
Compensated absences
Due in more than one year:
Compensated absences
Net Pension Obligation
Total liabilities
NET ASSETS
Invested in capital assets
Restricted for:
Programs
Emergencies
Claims (Note 7)
Unrestricted
Total net assets
Primary Government
Governmental
Activities
Business -type
Activities
$ 98,438,319 $
79,487,977
3,115,706
1,953,055
(312,900)
1,774,489
716,456
1,157,309
337,533
23,547,368
231,346,416
441,561,728
6,917,169
7,180,481
46,809
82,323,063
47,823
220,499
2,832,265
5,371,897
104,940,006
254,893,784
4,912,503
6,000,000
4,734,410
66,081,025
Total
Component Units
Housing
Authority
E-911
Authority
1,863,035 $ 100,301,354 $ 1,483,916 $ 4,406,356
- 79,487,977
1,426,695
312,900
5,698
48,496
1,257,118
4,913,942
92,456
321,606
414,062
1,305,614
3,194,266
$ 336,621,722 $ 4,499,880
See accompanying notes to the basic financial statements
4,542,401
1,953,055
1,774,489
722,154
1,157,309
337,533
23,595,864
232,603,534
726,347
5,550
349,011
12,989
823
436,854
1,584,965
446,475,670 2,577,813 6,428,998
7,009,625
7,502,087
46,809
82,323,063
47,823
220,499
2,832,265
5,371,897
105,354,068
256,199,398
4,912,5 03
6,000,000
4,734,410
69,275,291
46,432 1,187,649
2,348
9,069
12,052
43,592
113,493 1,187,649
12,989 2,021,819
349,011
2,102,320 3,219,530
$ 341,121,602 $ 2,464,320 $ 5,241,349
25
COUNTY OF WELD
STATE OF COLORADO
Statement of Activities
Year Ended December 31, 2010
Program Revenues
Primary government:
Governmental activities:
General government
Public safety
Streets and highways
Health and welfare
Culture and recreation
Economic assistance
Total governmental activities
Business -type activities:
Paramedic service
Total primary government
Component units:
Housing Authority
E-911 Authority
Total component units
Expenses
Operating Capital
Charges for Grants and Grants and
Services Contributions Contributions
$ 31,497,117 $ 10,117,110 $ 1,076,639 $
40,551,255 7,021,139 2,865,567
34,662,990 1,932,790 11,140,595
37,946,589 21,311,474 3,388,108
1,215,481 549,483 382,578
9,262,302 834,429 9,005,271
155,135,734 41,766,425 27,858,758
6,349,218
5,808,292 51,176
$ 161,484,952 $ 47,574,717 $ 27,909,934 $
$ 2,817,138 $ 170,711 $ 2,726,551 $
2,353,206 2,218,979
$ 5,170,344 $ 2,389,690 $ 2,726,551 $
GENERAL REVENUES
Taxes:
Property taxes
Specific Ownership
Severance/Tabacco
Royalties
Miscellaneous
Unrestricted investment earnings
Transfers
Total General Revenues and Transfers
Change in net assets
Net assets - beginning
Net assets - ending
See accompanying notes to the basic financial statements
26
Net (Expenses) Revenues and
Changes in Net Assets
Primary Government
Governmental
Activities
Business -type
Activities
$ (20,303,368) $
(30,664,549)
(21,589,605)
(13,247,007)
(283,420)
577,398
(85,510,551)
Total
Component Units
Housing E-911
Authority Authority
$ (20,303,368) $
(30,664,549)
(21,589,605)
(13,247,007)
(283,420)
577,398
(85,510,551)
(489,750) (489,750)
$ (85,510,551) $
95,251,609
6,018,849
845,578
2,556,866
6,415,403
2,103,942
(1,500,000)
111,692,247
26,181,696
310,440,026
$ 336,621,722
at
WO
(489,750) $ (86,000,301) S
Imb
IND
IND
1,500,000
1,500,000
1,010,250
3,489,630
OD
95,251,609
6,018,849
845,578
2,556,866
6,415,403
2,103,942
113,192,247
27,191,946
313,929,656
$ 4,499,880 $ 341,121,602
S
IND
IMO
$
80,124 $
IND
(134,227)
80,124 $ (134,227)
10,426
10,426
IND
IND
IND
Mb
Mb
Mb
90,550 (134,227)
2,373,770 5,375,576
$ 2,464,320 $ 5,241,349
COUNTY OF WELD
STATE OF COLORADO
Governmental Funds
Balance Sheet
December 31, 2010
ASSETS
Cash and cash equivalents
Receivables (net of allowance for uncollectibles):
Current property taxes
Delinquent property taxes
Accounts
Special assessment
Due from other County funds
Due from other governments
Inventories
Other assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Accrued liabilities
Other liabilities
Due to other County funds
Due to other governments
Deferred revenue
Unexpended grant revenue
Total Liabilities
Fund Balances:
Reserved for encumbrances
Reserved for other assets
Reserved for inventories
Reserved for emergency
Unreserved: Designated for property tax credit
Unreserved: Undesignated
General Fund
Special Revenue Funds
Capital Project Fund
Total Fund Balances
Total Liabilities and Fund Balances
General Fund
$ 17,537,153
53,561,289
268,426
867,476
63,999
74,843
152,591
383,830
$ 72,909,607
4,901,483
1,605,739
25,159
53,928,129
599,509
61,060,019
1,345,832
383,830
152,591
3,483,735
6,483,600
Public Works
Fund
$ 23, 915, 095
7,044,939
36,870
924,730
46,944
160
1,094,864
1,977
$ 33, 065, 579
495,218
347,212
10,473
7,137,808
7,990,711
13,972
1,977
1,094,864
23,964,055
Social Services
Fund
$ 2,709,473
9,241,192
30,157
352,877
41,850
1,174,812
1,665
$ 13,552,026
499,045
665,951
47,823
236,628
46,809
9,376,739
10,872,995
1,665
2,677,366
11,849,588 25, 074, 868 2,679,031
$ 72,909,607 $ 33,065,579 $ 13,552,026
See accompanying notes to the basic financial statements
78
Human Services
Fund
Contingent Fund
Capital Other Total
Expenditures Governmental Governmental
Fund Funds Funds
$ 1,227,189 $ 26,948,788 $ 6,542,548 $ 8,397,638 $ 87,277,884
- 1,011,123 6,654,598 - 77,513,141
- 65,629 35,236 - 436,318
6,069 - - 876,605 3,027,757
- - - - 46,944
225,256 - - - 331,265
703,400 - - - 1,953,055
/1114,010 - - - 1,691,465
2,413 - - 5,480 395,365
$ 2,608,337 $ 28,025,540 $ 13, 232,382 $ 9,279,723 $ 172,673,194
84,513
312,204
79,113
444,010
358,087
1,277,927
2,413
149,302
1,078,610 6,702,061
1,078,610 6,851,363
1,327,997 26,946,930
18,142
67,376
226,000
2,187
139,810
6,196,937
3,157,106
47,823
353,560
46,809
78,807,167
957,596
435,373 89,566,998
5,480
6,000,000
1,377,946
395,365
1,247,455
6,000,000
3,483,735
- - 6,483, 600
- 2,838,870 57,755,218
6,362,877 - 6,362,877
1,330,410 26,946,930 6,381,019 8,844,350 83,106,196
$ 2,608,337 $ 28,025,540 $ 13,232,382 $ 9,279,723 $ 172,673,194
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of Total Governmental Fund Balances To Statement of Net Assets
December 31, 2010
Total governmental fund balances $ 83,106,196
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 240,908,644
Long-term liabilities, including bonds payable and compensated absences,
are not due and payable in the current period and therefore are not reported
in the funds
Compensated Absences
Net Pension Obligation
Net Other Post Employment Benefits Asset
Internal service funds are used by mangement to charge the costs of
insurance and other services to individual funds. The assets and liabilities
of the internal service funds are included in governmental activities in the
statement of net assets
(3,052,764)
(5,371,897)
1,157,309
20,188,837
Internal services used by Enterprise Fund (314,603)
Net assets of governmental activities $ 336,621,722
See accompanying notes to the basic financial statements
30
WELDtCOUNTY
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
Year Ended December 31, 2010
REVENUES:
Taxes
Licenses and permits
Intergovernmental
Fines and forfeitures
Charges for services
Miscellaneous
Fees
Total Revenues
EXPENDITURES:
Current:
General government
Public Safety
Public Works
Public health and welfare
Culture and recreation
Economic assistance
Capital outlay
Total Expenditures
Excess of Revenues Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers - in
Transfers - out
Total Other Financing Sources (Uses)
Net Changes in Fund Balance
Fund Balances at Beginning of Year
Fund Balance at End of Year
General Fund
$ 54, 002, 977
2,114,041
5,701,169
579,270
3,359,179
7,733,383
8,537,503
82,027,522
29,608,752
37,991,699
2,174, 878
448,517
841,068
941,139
72,006,053
10,021,469
85,000
9,064,252
(8,979,252)
Public Works
Fund
$ 14,120,353
398,958
12,126,432
1,195,521
100,966
223,699
28,165,929
26,350,062
19,850
26,369,912
1,796,017
1,042,217 1,796,017
10,807,371 23, 278, 851
$ 11,849,588 $ 25,074,868
See accompanying notes to the basic financial statements
Social Services
Fund
$ 6,151,314
23,006,140
29,157,454
28,598,944
28,598,944
558,510
1,000,000
1,000,000
1,558,510
1,120, 521
$ 2,679,031
32
Capital Other Total
Human Contingent Expenditures Governmental Governmental
Services Fund Fund Fund Funds Funds
$ - $ 20,497,924 $ 7,281,327 $ 25,896 $ 102,079,791
2,512,999
8,388,871 - - 3,798,731 53,021,343
8,060 587,330
645,154 - 2,571,376 7,771,230
158,966 - 104,047 36,211 8,133, 573
- 66,255 - 8,827,457
9,192,991 20,497,924
9,086,301
9,086,301
106,690
12,351
12,351
7,451,629 6,440,274 182,933,723
29,608,752
184,954 38,176,653
- 28, 524, 940
7,802,907 36,850,368
373,232 1,214,300
9,086,301
7,614,178 52,528 8,627,695
7,614,178 8,413,621 152,089,009
20,497,924 (162,549)
119,041 20,497,924
1,211,369 6,449,006
(1,973,347) 30,844,714
2,500,000 3,559,810 7,157,161
592,909 9,657,161
2,500,000 2,966,901 (2,500,000)
2,337,451
4,043,568
993,554 28,344,714
7,850,796 54,761,482
$ 1,330,410 $ 26,946,930 $ 6,381,019 $ 8,844,350 $ 83,106,196
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, 2010
Net changes in fund balances - total governmental funds $ 28,344,714
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 capital outlay over depreciation
19,129,424
(18,170, 787)
958,637
Net effect of various transactions involving capital assets (i.e. sales, disposals)
is a decrease to net assets (1,687,061)
Some expenses reported in the Statement of Activities do not require the use of
current financial resources and therefore are not reported as expenditures in
governmental funds.
Compensated absences
Net Pension Obligation
Net Other Post Employment Benefits 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.
(13,703)
(890,235)
866,099
(1,479,696)
Internal services used by Enterprise Funds 82,941
Change in assets of governmental activities $ 26,181,696
See accompanying notes to the basic financial statements
34
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
Proprietary Funds
December 31, 2010
ASSETS
Cash and cash equivalents
Property taxes receivable
Receivables (net of allowance for uncollectibles):
Accounts
Due from other County funds
Inventory
Other assets
Total Current Assets
Capital Assets:
Land
Improvements other than buildings
Buildings
Machinery and equipment
Accumulated depreciation
Total Capital Assets
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities:
Accounts payable
Accrued liabilities
Due to other County funds
Deferred revenue
Total Current Liabilities
Net Assets
Invested in capital assets
Restricted for:
Insurance Claims
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
$ 1,863,035
1,426,695
5,698
3,295,428
48,496
55,728
710,305
1,703,431
(1,212,346)
1,305,614
4,601,042
92,456
321,606
1,703
415,765
1,305,614
2,879,663
$ 4,185,277
314,603
$ 4,499,880
Governmental
Activities
Internal
Service Funds
$ 11,497, 968
1,538,518
41,005
24,049
83,024
321,091
13, 505, 655
580,500
1,800,977
32,932,847
(21,329,184)
13, 985,140
27,490, 795
720,232
4,023,375
51
2,558,300
7,301,958
13,985,140
3,011,514
3,192,183
$ 20,188, 837
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, 2010
Business -type Governmental
Activity Activities
Paramedic
Enterprise Internal
Fund Service Funds
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
Fees
State Grant
Gain (loss) on disposition of assets
Judgements and damages
Total nonoperating revenues (expenses)
Income (loss) before contributions or transfers
Capital contributions
Transfers - in
Changes in net assets
Total net assets beginning of year
Total net assets at end of year
Some amounts reported for business -type activities in
the statement of activities are different because the
net revenue (expense) of certain internal service funds
is reported with business -type activities.
Change in net assets of business -type activities
$ - $ 11,930,003
5,317,036 8,661,176
5,317,036 20,591,179
4,251,709 146,844
302,606 2,096,559
878,636 4,167,333
731,163
339,353 2,992,498
17,274 103,881
14,828,743
5,789,578 25,067,021
(472,542) (4,475,842)
1,500
11,857
51,176
1,200
1,496,370
100
59,245
306,886
125,573
65,733 1,988,174
(406,809) (2,487,668)
1,500,000
1,093,191
3,092,086
7,972
1,000,000
(1,479,696)
21,668,533
$ 4,185,277 $ 20,188,837
(82,941)
$ 1,010,250
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, 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers
Cash flows from internal customers
Cash payments to external suppliers for goods and services
Cash payments to internal suppliers for goods and services
Cash payments to employees for services
Judgements/damages/losses
Miscellaneous revenues
Net cash provided (used) by operating activities
CASHFLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes
Transfers/Advances
Grants
Other
Net cash provided by noncapital financing activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Proceeds from sale of capital assets
Net cash provided (used) for capital and related
Financing activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments
Net Increase (decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of operating income to net cash
provided (used) by operating activities:
Operating income (loss)
Adjustments to reconcile operating income to
net cash provided (used ) by operating activities:
Depreciation expense
Judgements/damages/losses
Miscellaneous revenue
Change in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in due from other funds
(Increase) decrease in inventories
(Increase) decrease in other assets
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in other liabilities
Increase (decrease) in deferred revenue
Total adjustments
Net cash provided (used) by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Loss on Disposal of Asset
See Accompanying notes to the basic financial statements
Business -type
Activity
Enterprise Fund
Paramedic Services
Governmental
Activites
Internal
Service Funds
5,463,914
(802,854)
(561,644)
(4,129,071)
(29,655)
1,500,000
51,176
13,357
1,564,533
(633,744)
1,200
(632,544)
886,375
20,181,356
(19,359,662)
(197,767)
(383,357)
125,573
100
1,252,618
1,497,209
1,000,000
2,497,209
(2,115,619)
634,029
(1,481,590)
59,245
902,334 2,327,482
960,701 9,170,486
(472,542)
339,353
61,440
(5,698)
24,635
22,278
879
442,887
(29,655)
11.497.968
(4,475,842)
2,992,498
125,573
100
544,847
200
(11,212)
(284,535)
44,597
2,280,615
(12,886)
48,663
5,728,460
1,252,618
7,972
93,281
COUNTY OF WELD
STATE OF COLORADO
Statement of Fiduciary Net Assets
Fiduciary Funds
December 31, 2010
Weld County
Other Post
Agency Weld County Employment
Funds Retirement Plan Benefits
ASSETS
Cash and cash equivalents
Accounts Receivables
(net of allowances for uncollectables):
Restricted assets
Cash
Common Stock
US Property Fund
Total assets
LIABILITIES AND NET ASSETS
Accounts payable
Due to other governments
Total Liabilities
NET ASSETS
Held in trust for pension benefits
and other purposes
$ 4,845,477 $ - $
1,296 660,000
1,303,384 1,890,854
65,407,486
55,631,259
$ 4,845,477 $ 122,343,425 $ 2,550,854
$ 127,414 $ 17,842 $
4,718,063
$ 4,845,477 $ 17,842 $
See accompanying notes to the basic financial statements
$ 122,325,583 $ 2,550,854
COUNTY OF WELD
STATE OF COLORADO
Statement of Changes in Fiduciary Net Assets
Fiduciary Funds
For the fiscal year ended December 31, 2010
Weld County
Other Post
Retirement Employment
Plan Benefits
Additions:
Employer contributions
Employee contributions
Earnings on investments
Net appreciation in fair market value of investments
Total Additions
Deductions:
Actuarial/Trustee fees
Benefit payments
Supplies
Total Deductions
Change in net assets
Net assets - beginning
$ 4,885,660
4,906,239
2,050,354
10,390,153
$ 660,000
34,739
22,232,406 694,739
219,574
10,470,431
32,606
10,722,611
11,509,795 694,739
110,815,788 1,856,115
Net assets - ending $ 122,325,583 $ 2,550,854
See accompanying notes to the basic financial statements
NOTES TO THE FINANCIAL STATEMENTS
WELDZC"OUNTY
LJ
40
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
Note 1 - Sunirury of Significant Accounting Policies:
The County of Weld, Colorado ("County") was established in 1861, and on
January 1, 1976, became a hone rule county under the pr ovi s i ons of
Section 30- 35- 501, CRS, 1973. The County oper at es under an elected
c ornri s s i oner form of government. The County provi des the ful 1 range of
services cont empl at ed by statute or charter . These include general
government funct i ons, public protection and safety, health, social
services, human resource services, public improvements, road and bridge
oper at i ons, pl anni ng and zoni ng, and general admi ni s t r at i ve s er vi ces.
The financial stat ement s of the County have been prepared in conformity
with generally accepted accounting principles ( GAAP) as applied t o
government al units. The fol l owi ng suimliry of si gni fi cant accounting
policies is presented to assist the reader in evaluating the Count y' s
f i nanci al statements.
A. Reporting Entity:
W1 d County is a pol i t i cal subdivision of the State of Col or ado, governed
by an elected five -member Board of County Coniii s s i oner s . There are also
four of her elected officials of W1 d County (Assessor, Clerk and
Recorder, District Attorney, and Sheriff).
The acconpanyi ng fi nanci al s t at event s present the government and i t s
component units, entities for which the government is considered to be
f i nanci ally accountable. Bl ended component units, alt hough 1 egal l y
separate entities, are, i n substance, part of the government ' s
operat i ons. Each discretely presented component unit is reported in a
separate column in the government - wide financial statements (see note
below for description) to emphasize that it is legally separate from the
government .
Discretely presented component units:
The Wld County Housing Authority is responsible for assisting Wld
County residents with housing assistance. The Board of County
Commissioners appoints all of the five -member Housing Authority Board.
The County has the ability to remove any of the appointed board Herber s,
they can modify deci sions ons made by the board and can hire or fire persons
responsible for the day t o day operations. The W1 d County Housing
Authority is governed by state regulations, but was designated as part of
the County for budgetary and audit purposes by an act of the Colorado
General Ass errbl y in 1989. A complete set of financial st at event s can be
obtained at the entity's administrative offices:
W1 d County Housing Authority
903 6th Street
Greeley, CO 80631
41
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
The E911 Emergency Telephone Service Aut hor i t y Board was cr eat ed by
intergovernmental agreements pursuant to Article 11 of Title 29, C.R.S.,
as amended, that authorizes the county, municipalities within the county,
and special districts within the county to enter into an agreement for
the purpose of providing 911 emergency telephone services. Per the state
statute cited above, the agreement creates a separate legal entity which
i s responsible for admi ni s t er i ng the oper at i ons of the 911 emergency
t el ephone service program in Val d County. The authority board cons i s t s
of seven members with four selected by the W1 d County Comm ssi oners, one
member each is selected by the City of Greeley, City of Fort Lupton and
W1 d County Sheriff . Under the by -1 aws of E911 Aut hor i t y, VC d County i s
required to pay all operating costs. They are to maintain all accounts
and have accounts audited. St ate statute requires t hat all funds be
maintained by the W1d County Treasurer. The operation of the E911
authority is done contractual 1 y by the Wl d County Communi cation Regi onal
Cent er. There are no separate financial st at event s prepared for the E911
component uni t
Because t hey pr ovi de s ervi ces t o or otherwise benefit d Count y, the
f i nanci al s t at eimnt s of the f of 1 owi ng or gani zat i ons are bl ended into the
County financial statements:
W1 d County Retirement Plan - The Retirement Board consists of five
members, two selected by participating enpl oyees, two appointed by
t he Board of County Commissioners, and the fifth being the Count y
Treasurer. The County funds half of the retirement pl an, whi ch
covers subs ant i ally all permanent, ful 1 - tine enpl oyees of W1 d
County. The operation of the plan is accounted for in the W1d
County Retirement Fund, as a Pension Trust Fund. Complete Fi nanci al
statements can be obtained at the Veld County Treasurer's Office:
Veld County Treasurer's Office
1400 North 17th Avenue
Greeley, CO 80631
V�1 d County Fi nance Corporation - The Mel d County Fi nance
Corporation ("Corporation") was formed in 1987 as a not -for-profit
corporation under section 501(c)( 4) of the Internal Revenue Code, and
exists solely to acquire real estate and construct buildings for
1 ease to the County. The Board of County Comm s s i oners appoints the
t hr ee- member Board of Directors of the Corporation, and approves all
proj ects undertaken by the Corporation. The members of the Board of
Direct ors are errpl oyees of the Count y. There are no s epar at e
f i nanci al statements prepared for the Val d County Finance
Corporation.
42
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
The Law Enf or cement Authorities ( LEA) were i n accor dance wit h
Section 30- 11- 401, CRS. The 1 aw enf or cement authorities are taxi ng
units cr eat ed by the county t o pr ovi de additional law enf or cement
services by the county sheriff to residents in developed
unincorporated areas of the county. The governing board of the law
enforcement authorities is the five Wld County Comrissioners. Law
enforcement services to the authority are provided contractually by
the county sheri ff. There are no separate financial statements
prepared for the Law Enforcement Authorities.
The Local I mpr overlent Districts (LID) have not been included in the
County's financial statements individually, as they are iniraterial,
but are included as a blended corrponent unit of Public Vorks, a
special revenue fund. The Board of County Comni s si oner s can create
these assessment districts to construct or rehabilitate and finance
public streets, storm drainage, water systems, sanitary sewer, or
street lighting. The Primary purpose of an LID is to assess the
costs of public improvements to those who are specially benefited by
t he improvement . The LID exists only as geographic area wi t hi n
which i rrproverlent s are constructed and as an admi ni strati ve
subdivision of the county. Having no board of directors, they do
not operate i n any capacity as an independent government al entity.
The county governing board, Board of County Commissioners, makes all
decisions on behalf of this admi ni s t rat i ve entity. There are no
separate financial s t at event s prepared for the Local I mpr ovenent
Districts.
The f of 1 owi ng r el at ed or gani zat i ons are excluded from the acconpanyi ng
financial statements because the Count y' s account ability for these
or gani zat i ons does not extend beyond various appointments.
North Color ado 1Vtdi cal Cent er - The Board of County Commissioner s
owns land underlying the main facility of the 1Vhdi cal Center, which
land is currently leased to the Colorado Hospital Finance Authority
as part of the security for financing the bonded indebtedness of the
1Vhdi cal Center. The indebtedness is not an obligation of the Board
of County Comni s s i oner s and no taxpayer funds or Board of County
Conmi s s i oner s funds are obl i gated to pay any portion of the
principal, pr eni um or interest on the Bonds. The land i s leased
back from the Authority to the Board of Trustees, a seven nenber
Hospital Board of Trustees appointed by the Board of Count y
Commissioners. The Hospital Board of Trustees has entered into an
operating sublease of the ground and facilities with NClC, Inc., a
501(c) (3) ent i t y, with three of its members also serving on the Board
of Trustees, whi ch, i n t urn, has cont r acted with Banner Heal t h
Systems to operate the Adi cal Center . NCNC has the ability to
i ncur its own debt and its oper at i ons are financed totally by
patient revenues .
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
Greeley-Wld Airport Authority - The County Commissioners appoint
t vco of the five Airport Authority Board nenbers. . The County has
contributed appr oxi mat el y 5% of the funds for capital construction.
The Authority has ful 1 aut onony under Color ado State 1 aw, can incur
debt, and funds it operations totally from user fees.
V�1 d Library District - The County Conmi s s i oner s, t oget her with the
concurrence of the city counci 1 s of seven part i ci pat i ng
mini ci pal i ties, appoint the s even- member Li brary y District Board.
The Library District Board has total aut onony under the St at e
Library Act t o incur debt , establish budgets, and 1 evy pr oper t y
taxes to support the District's library system
Col or ado Counties Casualty and Property Pool ( her ei naf t er referred
to as "CAPP" - CAPP was f orrned July 1, 1986, by an i nt er gover nrnent al
agreement by rnerrber counties as a separate and independent
government al and 1 egal entity pursuant t o the provisions of Art i cl e
XI V, Section 18(2) of the Colorado Constitution and Section 29-1-201
et seq, 24- 10- 115. 5, and 29-13-102, CRS, as amended. Each member
county in this i nt er government al agr eement has the power under
Col or ado 1 aw t o make provision for the property and casual t y
coverage which constitute the functions and services joint 1 y
provided by means of the CAPP. The Insurance Comm s s i oner of the
State of Colorado has such authority with respect to the CAPP as is
provided by applicable Colorado statutes .
The purposes of the CAPP are to provide a risk management fund for
defined property and casualty coverage and to assist members in
control 1 i ng costs by provi di ng speci al i zed governmental risk
management services and syst
t
It is the intent of the 'withers to use neither contributions to
defend and indemnify, in accordance with the byl aws, any member
against states liability or loss to the limit of the financial
resources of the risk management fund. It is also the intent of the
member s to have CAPP provide needed cover age at r eas onabl e costs.
All income and assets of CAPP shall be at all tines dedicated to the
exclusive benefit of its members. Vhld County, through its
I nsur ance Internal Service Fund, recognizes an expense for the
amount paid t o CAPP annual 1 y for these coverages.
V�1 d County is a charter member of CAPP and has been a continuous
member since July 1, 1986.
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
B. Government -wide Financial Statements:
The Count y' s basic financial s t at errent s consist of gover fluent - wi de
statements, i ncl udi ng a statement of net assets and a s at event of
activities, and fund fi nanci al statements which pr ovi de a nmr a detailed
1 evel of fi nanci al i of or mat ion. The government -wide focus is more on the
sus ai nabi l i t y of the County as an entity and the change in aggregate
financial position resulting from activities of the fiscal period.
The statement of net assets and the statement of activities display
i of or mat ion about the county as a whole. In the gover nment - wi de
st at event of net assets, both the government al and business - type
activities columns are presented on a consolidated basis by col urm.
These statements include the fi nanci al activities of the primary
government , except for fiduciary activities. For the rmst part, the
e ffect of i nt er fund activity has been renoved from these st at event s.
Governmental activities, whi ch normally are supported by taxes and
i nt er gover nment al revenues , are reported s epar at el y from business -type
activities, which rely to a significant extent on fees and charges for
support .
The government -wi de st at event of activities reflects both the direct
e xpenses and net cost of each function of the County's government al
activities and bus i nes s-1 i ke activity. Direct expenses are those that
are clearly identifiable with a specific function. Program revenues
include charges paid by the recipient for the goods or services offered
by the program Direct expenses and program revenues resulting from
interfund activity are treated as such in the participating funds and are
not el i rni nat ed as part of the consol i dat i on process . Gant s and
cont r i but i ons t hat are r es t r i ct ed t o meet i ng the operational or capital
✓ equi r errent s of a part i cular program and interest earned on grants that
is required to be used to support a particular program are included in
operating gr ants and cont r i but i ons , or capital grants and cont r i but i ons .
Revenues which are not classified as program revenues are presented as
general revenues of the County, with certain limited exceptions. The
compar i son of direct expenses with program revenues identifies the ext ent
to whi ch each government function or busi ness segment is sel f -financing
or draws from the general revenues of the County.
Fund Financial Statements
The financial trans act i ons of the County are recorded i n i ndi vi dual
funds. A fund is defined as a fiscal and accounting entity with a sel f-
bal anc i ng set of accounts that comprise its assets, liabilities, fund
e quity, revenues, and expenditures or expenses, as appropriate. Separate
statements for each fund cat egor y - governmental, proprietary, and
fiduciary - are presented. The enphasi s of fund financial stat at ement s is
on naj or government al and enterprise funds, each displayed in a separate
col urm. All remaining governmental and enterprise funds are aggregated
and presented as non-nuj or funds.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Proprietary funds distinguish operating revenues and expenses from
nonoperating i t errs. Operating revenues and expenses generally resul t
from providing services and producing and delivering goods in connection
with a proprietary fund's principal ongoing operations. The pr i nci pal
operating revenues of the Par arredi c enterprise fund and of the
government's internal service funds are charges t o customers for sales
and services. Operat i ng expenses for enterprise funds and internal
service funds include the cost of sales and services, administrative
e xpenses, and depreciation on capital assets. All revenues and expenses
not meeting this definition are reported as nonoperating revenues and
e xpenses.
C. Measurement Focus
Government -wide, Proprietary and Fiduciary Fund Financial Statements
The government - wide financial statements are reported using the economic
resources measurement focus and the accrual basis of account i ng, as are
t he proprietary fund and fiduciary fund statements. Revenues are
✓ ecorded when earned and expenses are recorded at the time l i abi l i t i es
are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the County gives (or receives) value
without direct 1 y receiving ( or gi vi ng) equal value i n exchange, include
property t axes, grants, and donations . Revenues from property t axes ar e
✓ ecognized in the fiscal year for which the taxes are levied. Revenue
from grants and donations is recognized in the fiscal year in which all
e ligibility r equi r enrnt s have been satisfied.
Under the terns of grant agreements, the County funds certain program by
a combi nation of specific cost -rei nbursement grants, cat egori cal block
grants, and general revenues. Thus, when program expenses are incurred,
t here are both restricted and unrestricted net assets available t o
finance the program It is the County's policy to first apply cost -
reimbursernent grant resources to such program, followed by categorical
block grants, and then by general revenues.
Government al fund financial st at errent s are reported using the current
financial resources measurement focus and the rmdi fi ed accrual basis of
account i ng. Revenues are recognized as soon as they are both measur able
and avai 1 abl e. Revenues are cons i der ed to be available when they are
collectible within the current period or soon enough t hereafter t o pay
liabilities of the current period. For this purpose, the government
considers revenues to be available if they are collected within 60 days
of the end of the current fiscal per i od. Expenditures generally ar e
recorded when a liability is incurred, as under accrual accounting.
However expenditures related t o corrpens at ed absences and claim and
j udgnent s, are recorded only when payment i s due.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Property taxes, licenses, and interest associated with the current fiscal
period are all considered to be susceptible to accrual and so have been
recognized as revenues of the current fiscal period. Only the portion of
special assessments receivable due within the current fiscal period is
considered to be susceptible to accrual as revenue of the current period.
All other revenue i t erns are considered t o be measurable and avai l abl e
only when cash is received by the gover nrnent .
All gover nrrent al and business- type activities and enterprise funds of the
County f of 1 ow only FASB Statements and I nt erpr et at i ons issued on or
before, not after , November 30, 1989, Accounting Pr i nci pl es Board
Opi ni ons, and Accounting Res ear ch Bullet i ns, unless t hose pronouncement s
conflict with GASB pronouncements .
The County reports the f of 1 owi ng maj or governmental funds :
The General Fund is the general operating fund of the County which
accounts for all financial resources that are not accounted for in
of her funds. Oper at i ons of the County such as public safety,
pl anni ng and zoni ng, property valuation, tax collect i on and
distribution, vehicle licensing, County admi ni s t rat i on, and of her
activities financed from taxes and general revenues are reflected i n
t his fund.
The Public Works Fund records costs related to County road and
bridge construction and maintenance except for engineering, which is
recorded in the General Fund. By State law, Colorado counties are
required to maintain a Road and Bridge Fund and a portion of road
and bridge taxes is allocated to cities and towns for use in their
road and street activities.
The Social Services Fund admi ni s ers hunan services programs under
state and federal r egul at i ons . Pr ogr arras include, but are not
limited to, Nbdi cai d, Food St amps, Foster Care programs, and
Temporary Assistance to Needy Fanilies (TANF). Colorado counties
are required by state law to maintain a Social Servi ces Fund.
The Human Services Fund pr i mar y pr ogr arcs are
kforce Investment Act (WA) funded under the
Errpl oyment and Tr ai ni ng Admi ni s t r at i on. They
t he Head St art pr ogr ams . As of December 31,
programs were r el i nqui shed back t o the federal governrrent.
.
associated with the
Lepart nent of Labor,
also administer all
2009 all Head Start
The Contingent Fund records any property tax revenue 1 evi ed by the
Board of County Commissioners to cover reasonably unforeseen
expendi t ur es.
The Capital Expenditures Fund accounts for all the Count y' s
construction projects. The County chooses to use the pay as you go
plan instead of debt . Property t axes are used t o fund the Law
Enf or c event Center and the expansi on of the Det ent i on Center.
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
The County reports the f of l owi ng naj or enterprise fund:
The Paramedic Fund operates the par anedi c services for the County,
which is primarily funded by revenues for services rendered.
The County also reports the following fund types:
The Internal Service Funds account for the financing of goods or
services provided by one department or agency to other depar t rnent s
or agencies of the County on a cost r ei mbur sement basis . The
County's internal service funds report on self - i nsur ance programs
for errpl oyee health, dent al and vision benefits, risk nanagerrent ,
unemployment, fleet services, teleconminications and acquisitions of
✓ eal estate and construction of buildings used by Count y
depart Want s.
Services pr ovi ded and used by internal services funds are not
e ntirely el i mi nat ed from the gover nment - wi de st at errent of
activities . The primary government program expenses and expenses
for the business -type activities on the government -wi de statement of
activities are decreased t o el i mi nat a revenue over expenditures i n
service funds where revenues exceed expenditures and increased to
e liminate internal service funds that have expenditures in excess of
✓ evenues.
The Agency Funds account for assets held by the County as an agent
for indivi vi duals, private or gani zations ons and other governments. These
funds are cust odi al in nature (assets equal liabilities) and do not
i nvol ve neasur ernent of results of operations. The County has funds
hel d for of her 1 ocal gover nnent al units, empl oyee/ empl oyer payr of 1
taxes and a Section 125 plan.
The Fiduciary Trust Funds account for the activities of the Val d
County Retirement PI an and the WI d County Ot her Post Empl oyment
Benefit P1 ans. These funds accunul at e r esources for pension
benefit , and of her post empl oyment benefit payments t o qualified
county empl oyees. The Plans use the accrual basis of accounting.
Errpl oyee and empl oyer cont r i but i ons are r ecogni zed as revenues i n
the period i n which the cont r i but i ons are due. Benefits and refunds
are recognized when due and payable in accordance with terms of the
Plan.
48
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
D. Assets, liabilities, and net assets or equity
1. Deposits and investments
The W1 d County Treasurer maintains a cash and investment pool t hat i s
available for use by all County funds except for some agency funds. Each
fund's portion of this pool is displayed as "cash and cash equivalents".
Accrued interest recei vabl e is displayed s epar at el y. The armunt of
interest gained through secured investments is credited to the County's
General Fund per Col or ado St ate St at ut es, with the exception of the
Cons er vat i on Trust , Capital Expenditures Fund, Li ability Insurance Fund
and E- 911 Authority. "Cash and cash equivalents" for the General Fund
Cons er vat i on Trust , Capital Expenditures Fund, Liability Insurance Fund
and E- 911 Authority are stated at fair value. Any bank accounts not
maintained by the Treasurer are displayed as "Restricted Assets" within
the appropri i ate fund and are stated at cost.
The County consi der s cash and cash equivalents in proprietary funds to be
cash on hand and demand deposits. In addition, because the treasury pool
is sufficiently liquid to permit withdrawal of cash at any tine without
prior notice or penalty, equity in the pool is also deemed to be a cash
equivalent.
For the purpose of cash flows, cash and cash equivalents are determined
by original nat ur i t y of three rmnt hs . Investments are reported at fair
values using quoted market prices .
2. Property Taxes:
Property t axes attach as an enforceable lien on property as of January 1.
Taxes were levied on Decenber 22, 2010, and are payable either in two
i ns t al 1 Went s due on February 28 and June 15 or in full on April 30. The
bill becomes delinquent on Mr ch 1, My 1, and June 16 and penalties and
interest nay be assessed by the County. The County, through the Wld
County Treasurer, bills and collects its own property taxes, as well as
property t axes of al 1 other taxing authorities within the County. In
accordance with Section 14-7 of the W1 d County Horne Rule Charter, all
ad valorem tax levies for County purposes, when applied to the total
valuation for assessment of the County, shall be reduced so as t o
prohibit the levying of a greater armunt of tax revenue than was levied
from ad val or em taxation i n the preceding year plus five percent (5°4,
except to provide for the payment of bonds and interest. The Board of
County Conti s s i oner s nay submit the question of an increased levy to the
County Council and, if in the opinion of a maj or i t y of the County Counci 1
nay grant an increased levy for the County in such armunt as it deems
appropriate, and the County is aut hor i zed t o rake such increased l evy.
Any one capital project requiring a capital expendi t ur e out of funds
procured by ad valorem taxation equal to a three Ili 1 1 levy for three
years, s hal 1 be prohibited unless approved by a maj or i t y vote of the
qualified electors at a general or special election per Section 14-8 of
t he W1 d County Home Rule Charter .
49
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenter 31, 2010
3. Interfund Transactions
Transact i ons between funds t hat woul d be treated as revenues,
expenditures, or expenses if they involved organizations ext er nal to the
County are accounted for as revenues, expenditures, or expenses in the
funds involved. Transactions whi ch constitute reimbursement s of a fund
for expenditures or expenses initially made from t hat fund milli ch ar e
proper 1 y applicable t o anot her fund are recorded as expenditures or
e xpenses in the reimbursing fund and as reductions of the expenditure or
e xpense in the fund that is r ei nbur s ed. At year end, out s t andi ng
bal ances bet wen funds are reported as "due t o/ from other funds".
Interfund balances are generally expected to be repaid within one year of
t he fi nanci al statement date. Any r esi dual bal ances out st andi ng between
the governmental activities and business -type activities are reported in
t he government - wi de f i nanci al statements as "internal bal ances" .
4. Inventories and Prepaid Items
Invent ones of government al funds, whi ch consist of expendable nut er i al s
held for consumption, are stated at cost ut i 1 i zi ng the wei ght ed aver age
cost net hod. These funds fol 1 ow the consumption net hod of accounting
whereby expenditures are recorded at the t i ne the inventory items ar e
used.
Inventories of proprietary funds are recorded at average cost.
Certain payments t o vendors reflect cost applicable t o fut ure accounting
per i ods and are recorded as prepai d i tens i n both government - wi de and
fund financial statements.
5. Capital Assets
Capital assets, whi ch include property, pl ant equipment , and
infrastructure assets (e.g., roads, bridges and similar iterrs) , are
reported i n the applicable government al or business - type activities
col urms i n the government -wi de fi nanci al s at event s. Capital assets are
defined by the County as assets with an initial, individual cost of nnre
than $5, 000 and a useful 1 i f e of Imre than one year. All capital assets
are valued at hi st or i cal cost or est i mated hi st or i cal cost i f actual
historical cost is not available. Donated capital assets are recorded at
e st i mated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value
of the asset or materially ext end assets' lives are not capitalized.
50
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
All reported capital assets, except for gravel roads are depreci at ed.
I rrpr ovenent s are depr eci at ed over the r enai ni ng useful 1 i ves of the
related capital assets. Depreciation on all assets is provided on the
straight-line basis over the following estimated useful lives:
Bui 1 di ngs
I npr overrent s
Infrastructure
Infrastructure
Equi prnent
Heavy Equi pment
— Bridges
— Roads
20- 50 year s
20 years
50 years
20 years
3-5 years
10- 20 years
Statement 34 al 1 ows an alternative approach whi ch would reflect a
reasonable value of the asset and the cost incurred t o maintain the
service pot ent i al to locally established mini num standards in lieu of
depreciation. To elect this option, the County mist devel op and
i npl ement an asset management syst em which measures, at least every third
year by class of asset, if the mini mum standards are being maintained.
Related disclosures are additionally required as part of the Required
Supplement ary I of or mat i on. The County has elected to use the alternative
approach only for gravel roads.
6. Compensated Absences
County employees accunul at a sick leave and vacation benefits at rates of
8 hours per nont h and 8 to 16 hours per rmnt h, respectively, depending on
length of servi ce. In the event of retirement or ternination, an
enpl oyee is paid 100% of accumil at ed vacat i on pay. An enpl oyee whose
date of hire is prior to January 1, 1985, is paid for 50% of accumil at ed
sick 1 eave hours up t o the equi val ent of one rmnt h; i f the enpl oyee' s
date of hire is after January 1, 1985, no sick leave is paid upon
retirement or t er ni nation. Up to 320 hours of annual vacation nay be
carried over from one year to the next. Conpens at or y time is granted
( except for official , professional , and adn i ni s t rat i ve positions) at the
rate of one and one- half hours for each overtime hour worked, not to be
accumul at ed i n excess of forty hours.
The unpaid sick leave, vacation pay and related benefits at the end of
t he period wi l l generally not be paid with expendable and avai 1 abl e
resources. Proprietary funds accrue sick leave, vacation pay and related
benefits in the period they are earned by the employees.
The entire compens at ed absence liability is reported on the government -
wi de financial st at events. Expenditures and 1 i abilities for compensated
absences are reported on the gover nnrnt fund st at event s only when the
1 i ability for the compensated absences becomes due.
7. Long-term obligations
In the government - wi de financial st at ement s and pr opr i et ary fund types i n
t he fund f i nanci al st at event s, 1 ong- term debt and of her 1 ong- ter m
obligations are reported as liabilities in the applicable gover nrrent al
activities, business -type activities, or proprietary fund type statement
of net assets.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
8. Fund Equity
In the fund f i nanci al s t at errent s , governmental funds report reservations
of fund balance for antunt s t hat are not avai 1 abl a for appropriation or
are legally restricted by outside parties for use for a specific purpose.
Des i gnat ions of fund balance represent tentative management plans t hat
are subject to change.
Reserves for the County of Weld are recorded up to the maxi mum equity
avai 1 abl e in fund balance and consist of:
Reserved for Encumbrances:
These reserves are est abl i shed t o record purchase or der s and
c onmi t ment s out s t andi ng for whi ch the related goods/ services have
not been received at year end. The reserves recorded at December
31, 2010, include $1, 345, 832, $13, 972, and $18, 142 for the General
Fund, Speci al Revenue Funds, and Capital Expenditures Funds,
respectively, for a total of $1, 377, 946.
Reserved for Other Assets:
These reserves are est abl i shed t o record all prepaid i t erns.
Recorded reserves at Decenber 31, 2010, are $383, 830 and $11, 535 for
the General Fund and Special Revenue Funds respectively, for a total
of $395, 365.
Reserved for Inventories:
These reserves are established to record the total level of supply
i nvent ones. Recorded reserves at December 31, 2010, are $152, 591
and $1, 094, 864 for General Fund and Special Revenue Funds
respectively, for a total of $1, 247, 455.
Reserved for Emergencies:
The reserve for ever genci es as required by Section 20 to Article X
of the Col or ado Constitution, also known as the Taxpayer's Bill of
Rights (TABOR) is classified as restricted assets on the balance
sheet. Reserved at Decenber 31, 2010 is $6, 000, 000, all recorded in
a Special Revenue Fund.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
Designated Fund Balance:
Fund balance des i gnat ed for of her des i gnat i ons . Por t i ons of
unreserved fund balance nay be desi gnat ed t o i ndi cat a tent at i ve
plans for financial resource utilization in a future period. Such
plans or intent are subject t o change and have not been 1 egal 1 y
aut hor i zed, or may not result i n expenditures . Fund balance
des i gnat i ons i nc 1 ude:
Personal property Tax Credits: the funds are designated to be
used t o fund personal tax credits as incentives t o pr i vat e
compani es t o 1 ocat a or expand operations within the count y.
The tax credits mist be appropriated in a given year in order
to be granted and expended. A total of $3, 483, 735 has been
des i gnat ed in the general fund for utilization i n fut ur e
periods with $356, 788 appropriated i n 2011.
9. Net Assets
Net assets represent the difference between assets and liabilities. Net
assets invested in capital assets, net of related debt consists of
capital assets, net of accunul at ed depr eci at i on, reduced by the
out st andi ng balances of any borrowing used for the acquisition
construction of improvements of those assets. Net assets are reported as
restricted when there are l i nit at i ons imposed on their use ei t her through
t he enabling 1 egi s 1 at i on adopted by the County or through external
r es t r i ct i ons imposed by creditors , grantors, laws or regulations of other
government s.
The County first applies restricted resources when an expense is incurred
for purposes for which both restricted and unrestricted net assets are
avai 1 abl e.
10. Estimates
The preparation of financial s t at events in conformity with gener ally
accepted accounting principles requires management to crake estimates and
assunpt i ons that affect the armunt s reported in the financial statements
and accompanying notes. Actual results nay differ from those estimates.
53
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Note 2 - Stewards hip, Compliance, and Accountability
A. Budgetary information
An annual budget and appropriation ordinance is adopted by the Board of
County Comri s s i oner s in accordance with the Colorado State Budget Act and
V�1 d County Home Rule Charter . The budget i s prepared on a bas i s
consistent with generally accepted accounting principles. Budgets ar e
e st abl i shed for all Cover nnent al funds, Internal Service funds and the
Enterprise Fund. The accounting syst em i s enpl oyed as a budget ary
management cont r of device during the year t o moni t or the i ndi vi dual
departments. The fund level is the level of classification at which
e xpenditures nay not 1 egal 1 y exceed appr opr i at i ons, except for the
General Fund where the department 1 evel of expenditures cannot 1 egal 1 y
e xceed appr opr i at i ons. During the year, several suppl ernent al
appr opr i at i ons were necessary. All annual appr opr i at i ons 1 apse at year
e nd.
The Director of Finance and Administration is authorized to transfer
budgeted armunts within departments of each fund. Any r evi si ons t hat
alter the total appr opr i at i on for a fund or for any General Fund
department mist be approved by the County Commissioners through a
suppl ernent al appropriation or di nanc e. During 2010, two suppl ernent al
appr opr i at i on ordinances wer e enact ed. Budget annunt s reported i n the
acconpanyi ng financial st at errent s reflect these suppl ernent al
appr opr i at i ons.
B. Excess of expenditures over appropriations
Excesses of expenditures over appropriations in General Fund departments
can be seen i n the expenditures section of the Schedule of Revenues,
Expenditures and Changes in Fund Balance - Budget and Actual .
Excess expenditures i n the Soci al Service Fund can be seen on the
Schedule of Revenue, Expenditures and Changes in Fund Balance - Budget
and Actual . The excess expenditures were a result of increased
caseloads, and costs resulting from the economic recession.
Solid Vest a Fund (Special Revenue Fund) had excess of expenditures over
appropriations. These can be seen on the Schedule of Revenue, Expenditure
and Changes i n Fund Balance - Budget and Actual.
Expenditures exceeded appr opr i at i ons i n the Law Enforcement Authority
funds (Special Revenue) . The excess expendi t ures in t he 1 aw enfor cement
funds were a result of excess funds being available at the end of the
year. The purpose of the law enforcement authorities is to collect taxes
to fund law enforcement services in unincorporated parts of Meld County
and any excess funds can be used to offset the cost of law enforcement.
Expenditures exceeded appr opr i at i ons i n the Par anedi c Fund (Enterprise
Fund) . The excess expenditures can be at t r i but ed t o increases i n
depreciation as well as the write off of uncol l ect i bl a accounts, a non-
cas h expenditure, and was offset i n expenditures being 1 es s than
appropriation in personnel and supply costs.
54
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Expenditures exceeded appropriations i n the Insurance Fund ( I at ernal
Service) . Insurance claims for 2010 vser a higher than expected causing
expenditures t o exceed appropriations.
Expenditures i n the Phone Service Fund ( I nt er nal Ser vi ce) . The excess
e xpenditures can be at t r i but ed t o depreciation expense, a non- cash
e xpense.
Note 3 - Equity in Pooled Cash and Investments :
A. Cash and Investments
Cash and investments held by the Treasurer's office at December 31, 2010
as reported by the financial institutions, consisted of the following:
Depos i t s
CDs
I nvest rnent s: FFCB 7, 500, 000
FHLB 40, 475, 000
FILM 42, 000, 000
FNMA 10, 000, 000
$ 14, 909, 973
409, 030
99, 975, 000
Tot al $115, 294, 003
Cash and investment s held by the Treasurer's office at December 31, 2010,
e xcl udi ng out st andi ng warr ant s, reported i n government -wi de and agency
funds consisted of the f of 1 owi ng:
Dover nment - wi de
Agency funds
Total
B. Deposits
$101, 254, 700
12, 275, 910
$113, 530, 610
The Colorado Public Deposit Protection Act (PDPA) requires that all 1 ocal
governrent s deposit cash in eligible public depositories. Eligibility is
det ermi ned by state regul at i ons. The State regul at ory comri ssi oners
✓ egulate the eligible public depositories. Annunt s on deposit in excess
of federal insurance levels mist be collateralized by eligible col 1 at eral
as det erni ned by the PDPA PDPA allows the financial i nst i t ut i ons t o
create a single collateral pool for all public funds held. The pool is to
be nai nt ai ned by anot her institution, or held in trust for all the
uninsured public deposits as a group. The market value of the collateral
mist be at least equal to 102% of the uninsured deposits. At December 31,
2010, the County had deposits of $15, 319, 003 collateralized wit h
securities held by the financial institutions' agents but not in the
County name.
55
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
C. Investments
The County is required to comply with State statutes whi ch specify
investment instrunants meeting defined rating, maturity, custodial and
concentration risk criteria in which local governments nay invest
i ncl udi ng:
Cbl i gat i ons of the United States and certain U. S. Agency securities
Certain international agency securities
General obl i gat i on and revenue bonds of U S. 1 ocal government
entities
Banker's acceptance of certain banks
Conner ci al paper
Witten repurchase agreements collateralized by certain authorized
securities
Certain money market funds
Guar ant eed investment contract s
Nbney Mtr ket Funds i n Bank Account
The County has no provisions in its investment policy that would further
limit investment choices . At December 31, 2010, the County had the
following investrents:
Investment 1Vhturities (in Years)
1 or less
1 - 3 yrs.
3 — 5 yrs.
1Vbn e y 1Vh r k e t
Total
D. Credit Risk
$ 409,030
0
99, 975, 000
$100,384,030
$ 14, 909, 973
$115, 294, 003
State statutes limit investments in U. S. Agency securities to the highest
rating issued by nationally recognized statistical rating organizations
(NRSRc) . At December 31, 2010, the County investments in the Federal
Hone Loan Bank, Federal Hone Loan Nbr t gage, Federal National 1Vbrt gage
Association, and Federal Farm Credit Bank were rated AAA by Standard &
Poor' s . Nbney Mir ket Funds were managed by Wells Fargo Bank i n
accordance with state regulations pledged at 102% Government Guar ant eed
Bonds and are AAA rated.
E. Concentration of Credit Risk
State statute does not 1 i ni t the amount the County may invest in one
issuer . At December 31, 2010, the County's investments i n Federal
National [Vint gage Ass oci at i on, Federal Hone Loan Bank, Federal Far m
Credit Bank, and Federal Hone Loan It t gage represented 10°/9 40°/9 8°/9 and
42°/9 respectively of the County's total i nves t rant s .
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
F. Interest Rate Risk
State St at ut es limit the maxi hum hat ur i t y date unl es s an exception is
made by the county commissioners, which does not exist at the present
tine, to five years. The average duration in the portfolio on December
31, 2010 was 3. 9 years. This factor combined with the hi gh quality credit
risk of the portfolio lint interest rate risk to a very shall percentage
of the portfolio. In fact , at year end the average nark- t o -the -market
was within one percent of the county's basis.
G. Money Market Funds in Bank Account
The County had $4, 883, 457 invested in overnight pooled rmney with Veils
Fargo on December 31, 2010. The County's investment at Val 1 s Fargo is a
direct obligation of the bank and the funds are maintained in a money
market account ear ni ng a negotiated rate of r et urn. 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 meet i ng the PDPA requirements of the State of
Colorado, which is administered under the State's Banking Di vision. The
Fair value of all of the funds shares are the sane and are priced at one
dollar and are 1 i qui d dai 1 y. A des i gnat ed custodial bank provi des
safekeepi ng and depository services in connection with the direct
i nvest milt and withdrawal functions. SubsSubstantially all securities owned
are held by the Federal Reserve Bank in the account maintained for the
custodial bank. The cust odi an' s internal records identify the invest went s
owned by the part i ci pat i ng governments.
H. Restricted Cash
The Decenber 31, 2010 restricted cash balance of $337, 533 is made up of
$65, 000 advanced to cover insurance claims and $272, 533 that rust be used
in accor dance with the Conser vat i on regulations set by the 1 of t er y
authority.
I. Component Units
The carrying bal ance of the Housing Authority's cash deposits was
$1, 832, 927 at December 31, 2010. Bank and i nves t nent balances before
reconciling i t erns were $1, 832, 927 at that date, the total armunt of which
was collateralized or insured with securities held by and unaffiliated
banki ng institutional the Authority's nane.
Deposits consist of the following:
Checking, rmney Mrket and savi ngs account $1, 832, 927
Restricted cash consists of tenant section 8 HAP reserves and escrow.
The available cash bal ance of $4, 406, 356 for the E911 authority is
i ncl uded i n the Agency Cash balance of $12, 275, 910 held at the W1 d
County Treasurers Office listed above.
57
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decerrber 31, 2010
Note 4 - I nt er fund Trans actions
Due to/from other funds:
The county reports i nt erfund balances between nany of its funds. Sorrm of
the balances are consi der ed i mat er i al and are aggregated into a single
column or row. The sum of all balances presented in the table agrees
with the sum of i nt erfund balances presented in the balance sheet for
government al and proprietary funds. The balances resulted from the t i ne
lag bet ween the dates that (1) i nt er fund goods and services are provided
or reimbursable expenditures occur, (2) transactions are recorded in the
accounting system and (3) payments between funds are nade. I nt erfund
balances are generally expected t o be repaid within one year of the
financial statement date.
Receivable Fund Payable Fund
General
Public Vd r ks
Social Services
Hunan Services
Internal Service
Public W5r ks
Social Servi ces
Hunan Services
Enterprise Fund
Non- Mj or Governmental
Internal Service Fund
General Fund
General
Hunan Services
Internal Servi ces
General Fund
Social Servi ces
General
Public ks
Social Servi ces
Hunan Services
Non- Mj or Government
Enterprise
$ 824
9, 252
34, 966
103
1, 387
48
17, 419
160
41, 847
4
180
225, 076
7, 400
9, 649
2, 300
2, 300
800
1, 600
$355, 315
58
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Transfers in/out:
Transfers are indicative of funding for capital projects or subsidies of
various County operations and r e- al 1 ocat i on of special revenues . The
following schedule briefly sunmirizes the County's transfer activity:
Transfer To:
General Fund
Social Services
Hunan Services
Capital
Non- Mj or Cover nrrent
Enterprise
Internal Service
General
Fund
1, 000, 000
12, 351
2, 500, 000
3, 051, 901
1, 500, 000
1, 000, 000
9, 064, 252
Transfer From
Non- Nk j or
Dover nnent
$ 85, 000
507, 909
592, 909
Total
$ 85, 000
1, 000, 000
12, 351
2, 500, 000
3, 559, 810
1, 500, 000
1, 000, 000
9, 657, 161
Note 5 - Allowance for Uncol 1 ect i bl e Accounts Recei vabl e:
The allowance for uncol 1 ect i bl e receivables consists of the following at
December 31, 2010:
Fund Type
General
Public Works
Social Services
Cont i ngent
Capital Expenditures
Enterprise
Internal Service
Total
Allowance for
Uncollect i bl e
$ 67, 107
9,217
7, 539
16, 407
8, 809
1, 908, 151
6, 046
$ 2, 023, 276
59
COUNTY OF WELD
STATE OF COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2010
Note 6 - Capital Assets:
Capital asset activity for the year ended December 31, 2010, was as follows:
Beginning Ending
Balance Increases Decreases Transfers In (Out) Balance
Governmental activites
Capital Assets not being depredated
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
$ 8,401,986 $ 49,709 $
10,290,980 1,134,910
3,188,617 3,776,715
21,881,583
116,734,322
7,411,107
45,418,290
304,227,407
473,791,126
106,932
4,961,334 106,932
4,188,686
185,312
2,550,863
9,394,570
2,740,477
3,254,478
16,319,431 5,994,955
27,474,494 2,696,774
2,310,923 274,629
27,553,062 3,842,557 2,397,856
181,507,922 14,358,130 1,662,832
238,846,401 21,172,090
234,944,725
(3,188,617)
$ 8,451,695
11,318,958
3,776,715
0,188,617) 23,547,368
3,188,617
124,111,625
7,596,419
45,228,676
310,367,499
3,188,617 487,304,219
30,171,268
2,585,552
28,997,763
194,203,220
4,060,688 255,957,803
(4,852,659) 1,934,267
Governmental activities capital assets, net $ 256,826,308 $ 10$,675 $ 2,041,199
Business -type activities:
Capital Assets not being depreciated
Land
Capital assets being depreciated:
Buildings
Improvements
Equipment
Total capital assets being depreciated
$ 48,496 $ - $
710,305
55,728
1,286,367
687,897 270,833
3,188,617 231,346,416
$ 254,893,784
$ 48,496
710,305
55,728
1,703,431
2,952,400 687,897 270,833 - 2,469,464
Less accumulated depreciation
Buildings 382,923 24,266 - - 407,189
Improvements 53,249 1,240 - 54,489
Equipment 653,500 313,847 216,679 750,668
Total accumulated depreciation 1,089,672 339,353 216,679 - 1,212,346
Total capital assets being depreciated, net 962,728 348,544 54,154 1,257,118
Business -type activities capital assets, net $ 1,011,224 $ 348,544 $ 54,154 $ - $ 1,305,614
60
COUNTY OF WELD
STATE OF COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2010
Beginning Ending
Balance Increases Decreases Transfers In (Out) Balance
Housing Authority
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Buildings
Improvements
Equipment
Total accumulated depreciation
Total capital assets being depreciated, net
$ 41,217 $ 822 $
41,217
27,625
27,625
13,592
Housing Authority capital assets, net $__12§.92,
E-911 Assets:
Capital Assets not being depreciated
Construction in progress
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
$ 42,039
822 42,039
1,425 - - 29,050
1,425 - 29,050
(603) 12,989
$ 150,000 $ 436,854 $
2,543,770 61,358
2,543,770 61,358
$ (150,000) $ 436,854
150,000 2,755,128
150,000 2,755,128
Less accumulated depreciation
Equipment 917,765 252,398 1,170,163
Total accumulated depreciation 917,765 252,398 1,170,163
Total capital assets being depreciated, net 1,626,005 1191,040) 150,000 1,584,965
E-911 capital assets, net $ 1,776,005 $ 245,814 $
61
COUNTY OF \M 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
Depreciation expense was charged t o functions/programs
government as follows:
Government al activities:
General government
Public safety
Streets and hi ghways
Economic assistance
Culture and recreation
Health and welfare
Capital Assets held by government's internal
service funds are charged to the van i ous
functions based on their usage of the assets
Total depreciation expense- government al activities
Bus i nes s - type activities
Par anedi c Service
of the
prinary
$ 1, 495, 141
1, 677, 982
14, 568, 271
23, 471
11, 712
403, 015
2, 992, 498
$ 21, 172, 090
$ 339, 353
Component Unit s
Housing Authority 1, 425
E- 911 Authority 252, 398
Total depreciation expense component units $ 253, 823
Note 7 - Risk management and insurance:
The County i s exposed t o various risks of loss related t o torts ; t heft
of, darrage to, or destruction of assets; and errors or omissions. (See
Note 11) These activities are accounted for i n the Insurance Fund, an
internal service fund. A liability for a claim is established if
i of ornat i on i ndi cat es that it is probable that a liability has been
incurred at the date of the financial statements and the armunt of the
loss is reasonably estimable.
Insurance coverages have not been si gni fi cant 1 y reduced from prior years
and sett 1 ement s have not exceeded insurance coverage in the past three
years.
The County manages risks of loss through a combination of conirer ci al
i nsurance, participation i n a public entity risk pool , (See Note 1) and
self-insurance. These activities are accounted for in the Insurance
Fund, an internal service fund.
The County provides health, dental and vision insurance benefits to
enpl oyees, whi ch are funded by enpl oyee and employer cont ri but i ons.
These activities are accounted for i n the Health Insurance Fund, an
internal service fund.
62
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
Wrkers' Compensation coverage is partially self -insured, with insurance
coverage of a $400, 000 self -insured retention. Est i rmt ed 1 i abilities for
cl ai rrs nude and claim incurred but not reported (IBNR) at year - end are
shown as accrued liabilities in the fund. These est i mat es are based upon
a third -party admi ni st r at or s review of claims and actuarial proj ections
ons
from hi st or i cal cl ai ns dat a. Changes i n the bal ances of claims
liabilities during the current and prior years are as follows :
Unpaid Cl ai ns - Begi nni ng
Incurred Claims (Includes I BNR' S)
Claims Paid
Unpaid Cl ai rrs - Endi ng
2009
$ 1, 1 10, 105
1, 144, 195
(860, 342)
$ 1, 393, 958
2010
$ 1, 393, 958
1, 383, 576
(1,014,481)
1, 763, 053
The Insurance Internal Service Fund provides protection against losses
i nvol vi ng County property, equi pment , and 1 i abi 1 i t y. Reserves within the
fund support hi gher deductible or self -insured retention 1 evel against
loss. Payment s to CAPP for coverage under the insurance pool are shown
as expenses i n the Insurance Int ernal Service Fund. Est i nut ed
liabilities under the $125,000 self -insured retention for claim, made and
claims incurred but not reported (IBNR) at year-end are shown as accrued
liabilities in the fund. These es t i mat es are based upon CAPP' s cl ai m
administrator's review of claims and actuarial projection from historical
claims data. Changes in the balances of claim, liabilities under the
$125, 000 self- insured retention during current and prior years are as
follows:
Unpaid Cl ai trs - Begi nni ng
Incurred Cl aims (Includes IBM! s)
Cl aims Pai d
Unpaid Cl ai rrs - Endi ng
2009
$ 185, 946
373, 089
(234, 537)
2010
$ 324, 498
324, 974
(385, 312)
$ 324,498 $ 264,160
The Health Insurance I nt er nal Service Fund covers the county' s dental and
vi s i on reimbursement pl an. The plan is not an insurance program but
rat her an employee r ei nbur sement plan t hat closes out each year on
December 31, for services received on or before t hat date. It
out s t andi ng claims or incurred but not reported liabilities exist for
year-end.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
In addition the Health Insurance Internal Service Fund as of January 1,
2006, covers the county's health insurance program The plan is a sel f -
f unded errpl oyee health benefit plan with a specific deductible armunt of
$100, 000 per individual, and an aggregate excess loss insurance policy
t hat has both a rmnt hl y at t achment point and an annual cumil at i ve
at t achrnent limit with a terra nal attachment point . Attachment points ar e
calculated based upon enrol 1 ment . Changes in the balance of the damns
liability during the current year are as follows :
Unpaid CI ai rrs - Begi nni ng
Incurred Claims (Includes IBNR's)
Claims Paid
Unpaid Claims - Ending
Note 8 - Long- Term am:
13, 178, 226
(11, 197, 273)
$ 1, 980, 953
W1 d County has no general bonded indebtedness . I n accordance wit h
Section 30- 35- 201 CRS, 1973, the County's general bonded indebtedness is
Hinted to 3% of the assessed valuation, or $141, 036, 269 at December 31,
2010.
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
enterprise assumes full responsibility for repayment of the debt,
County is released from any l i ability for repayment. Industrial
bonds out s t andi ng as of December 3 1, 2010 totaled $5, 652, 295.
Changes in long-term liabilities
private
and the
revenue
Long - term liability activity for the year ended December 31, 2010, was as
follows, the balances, additions and reductions are listed by the funds
where the l i ability is accrued and l i qui dated:
Compensated absences
General Fund
Public VNbrks
Social Services
Public Health
Total governrrmntal
Beginning
Balance
$ 1, 648, 421
466, 090
702, 625
221, 925
Additions Reductions
$ 52, 121
32, 457
140, 707
16, 282
$ 3, 039, 061 $ 241, 567
Endi ng
Bal ance
$ 115, 043 $1, 585, 499
27, 080 471, 467
69, 419 773, 913
16, 322 221, 885
$ 227, 864 $3, 052, 764
Due W t hi n
ale Year
$ 97, 914
21, 001
85, 205
16, 379
$ 220, 499
64
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Note 9 - d County Retirement PI an:
Plan Description:
The Wl d County Ret i rement PI an (Plan) i s a si ngl a-empl oyer, defi ned
benefit pension plan adni ni st ered by a fi ve-member r et i r ement board. The
plan provides retirement , disability and death benefits to plan members
and beneficiaries at the discretion of the Retirement Board. The
Retirement Board and the Board of Commissioners maintain the authority to
establish and amend benefit provisions of the Plan. The Retirement Board
issues a publicly avai 1 able financial report t hat includes financial
s t at ement s and r equi r ed suppl ement ary i of or mat ion. That report nay be
obt ai ned by cont acting the County of Val d, State of Col or ado.
Funding Policy:
The cont r i but i on r equi r event s of pl an members and the County ar e
est abl i shed and nai nt ai ned by the Board of Comri ssi oners. PI an members
are requi red t o cont r i but a 9% of their annual covered payroll. The
County is required to contribute at an actuarially determined rate; the
current rate is 9% of annual covered payroll.
Annual Pension Cost and Net Pension Obligation:
The County's annual pension cost and net pension obligation to the Plan
the current year were:
Annual Requi red Cont r but i ons
Interest on net pension obligation
Annual Pension Cost
Cont r i but i ons Wade
$ 5, 417,362
358, 533
5, 775, 895
4, 885, 660
Increase in net pension obligation 890,235
Net pension obl i gat i on (asset) begi nni ng of year 4, 481, 662
Net pension obligation (asset) end of year $ 5,371,897
The annual required contribution for the current year was determined as
part of the January 1, 2010 act uar i al valuation using the entry age
act uar i al cost net hod. The actuarial as s umpt i ons included ( a) 8%
investment rate of return (net of administrative expenses) and (b)
proj ect ed salary i ncr eases rangi ng from 5. 3% t o 8. 5% per year. Both ( a)
and (b) included an inflation component of 2. 8% The act uar i al value of
assets was determined using techniques that smooth the effects of short -
t er m volatility in the market value of investments over a five- year
period. The unfunded actuarial liability is being amortized as a level
per cent age of projected payroll on a closed basis . The r emai ni ng
amortization period at January 1, 2010, was 30 years.
65
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
Three -Year Trend Information:
Fiscal Year Ended
December 31, 2008
December 31, 2009
December 31, 2010
Funding Status:
Annual Pension
Cost (APC)
5, 052, 213
7, 261, 594
5, 775, 895
Percentage of APC
Cont r i but ed
87. 4%
68. 3%
84. 6%
Net Pension
Obligation (Asset)
2, 182, 292
4, 481, 662
5, 371, 897
Actuarial
Actuarial
Actuarial
Unfunded
Funded
Covered
UAAL as a
Valuation
Value of
Accrued
AAL ( UAAL)
Ratio
Payroll (c)
Percentage of
Date
Assets
Liability
(b -a)
(a/b)
Covered
(a)
( AAL)
Payr of l
Entry Age
[b-a)/c]
(b)
1 i 1 1 0
$131,288,037
$186, 015,431
$54, 727, 394
70. 6%
$53, 484, 492
$102. 3
A schedule of funding progress can be found in the RSI section following
the notes to the financial s t at ement s. The schedule of funding progress
presents informat i on on the funding process and its increases and
decreases over tine.
Based on several milt hs of study and review of available plan design
opt i ons , the Retirement Board revised the pr ovi s i ons of the W1 d Count y
Retirement PI an in or der to reduce the future volatility of the pl an' s
funded status and help to secure the financial future of the Plan. The
maj or i t y of the revisions will only in -pact new members hired on or after
January 1, 2010. The provi si ons of the revised plan provide a van i able
annuity with members accruing 1. 9% of their pay each year toward their
age 65 annuity. The benefit will be adjusted each Much based on the
Plan's asset return under or over 5% for the prior year. Early
retirement opt i ons continue t o be avai 1 abl a under the revised pl an.
Effective January 1, 2010 the interest rate credited to the existing
cont r i but i on balances as of January 1, 2010 and cont r i but i ons after
January 1, 2010 wi l l be 3% per year.
66
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Note 10 - Other Post Errpl oynent Benefits:
Plan Description:
Weld County Ot her Post Empl oyment Benefits PI an ( OPEB PI an) is a s i ngl e-
e npl oyer defined benefit healthcare pl an administered by VM1 d County that
pr ovi des nedi cal , dental , and vision insurance benefits to el i gi bl e
e etirees and their spouses. The OPEB Plan was created by a Board of W1 d
County Comri s s i oner s resolution on November 30, 1998, and an -ended
Decenber 16, 2002 and Sept ember 21, 2005. The OPEB Plan provides the sane
health, dental, and vision plan as offered Val d County employees and at
the sane cost. The program i s not part of the Veld County Retirement Plan
and is not a vested benefit or right, but it is a plan that can be
an -ended or stopped at any tine by the Board of V1/46l d County Corrrri s s i oner s
for any reason, and no separate financial stat at ement s are prepared. The
program i s only avai 1 abl e to W1 d County employees hired prior to October
1, 2005. From December 16, 1998, to December 31, 2008, a retiree who
retires from employment with Val d County after ten years of servi ce, or
was an elected official of Vel d County for at least one full four year
term who has attained the age of 55 years and is drawing benefits from
t he Wl d County Retirement PI an i s el i gi bl e t o continue health, dent al ,
and vision coverage until age 65. After January 1, 2009, an employee mist
have attained age 57 and have 15 years of service to be eligible. From
2009 until 2014 the required age attainment and years of service are each
increased by one year annually, so effective January 2014 an employee
mist have attained age 62 and have 20 years of service to be el i gible,
e,
unless the employee attains age 55 and has 30 years experience or has
attained age 55 and has served as a W1 d County elected offi ci al for two
f ul 1 terns . Coverage ends in all cases at age 65. The Board of Val d
County Conmi s s i oner s on Sept enber 15, 2008, decided by r es of ut i on t hat
the current program will be stopped January 1, 2009, except for those
e nrpl oyees born pri or to January 1, 1957, or any enpl oyee born on or pri or
to December 31, 1958, who will have 30 years of service prior to reaching
age 62. Employees meeting these criteria will be gr andf at her ed into the
current plan and wi 1 1 r enai n el i gi bl a for continued benefits under the
retiree health insurance program adopted December 16, 2002. An empl oyee
meeting the above criteria to be eligible for the gr andf at her ed plan the
e npl oyee and/ or dependents, i f applicable, mist have been enrol 1 ed as of
January 1, 2008, in the 'Veld County health insurance plan. Enpl oyees
and/ or dependents enrol 1 ed i n the VC d County health insurance pl an after
January 1, 2008, are not eligible for the gr andf at her ed plan. On July 19,
2010, the Board of W1 d County Commi s s i oner s terminated the program
e ffective June 30, 2012, for all eligible employees that had not retired
or signed an agreement for continuation of health insurance coverage as
of October 1, 2010.
67
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Funding Policy:
The cont r i but i on r equi r ement s of plan members and Wl d County ar e
est abl i shed and may be amended by the Board of W1 d County Comm s s i oner s
annually. The required cont r i but i on i s based on proj ect ed pay-as-you-go
financing r equi r ement s, with an addi t i onal armunt t o pr of and benefits as
determined by an actuarial report done bi - annually. For fiscal year 2010,
t he county cont ri but ed $1, 364, 055 t o the pl an, including $704, 055 for
current pr emi urns (appr oxi mat el y 79 per cent of tot al pr emi uns) and
$660, 000 additional fundi ng t o pr of and benefits . Pl an members r ecei vi ng
benefits cont r i but ed $188, 818, or appr oxi mat el y 21 per cent of the total
premi urns, through their r equi r ed cont r i but i on r angi ng bet ween $111 t o
$152 per fmnt h for retiree- only coverage and between $219 to $251 for
retiree and spouse coverage. The OPEB Plan assets are deposited in the
Val d County OPEB PI an Trust Fund. The empl oyers cont r but i ons t o the
trust fund are irrevocable, the assets of the trust are dedicated to
providing benefits to retirees and their beneficiaries, and the assets
are legal 1 y protected from the empl oyer' s credit ors.
Annual OPEB Cost and OPEB Obligation:
Prior to January 1, 2007, the OPEB Plan was funded on a pay as you go
basis. Begi nni ng January 1, 2007, the county's annual of her post
enpl oynent benefit (OPEB) cost (expense) i s calculated based on the
annual required contribution of the employer (ARC) , an armunt actuarial 1 y
determined in accordance with the par arnet er s of GASB St at ernent 45. The
ARC represents a level of funding that, if paid on an ongoing basis, is
proj ect ed t o cover nornal cost each year and anvrt i ze any unfunded
actuarial liabilities (or fundi ng excess) over a period not to exceed
t hi r t y years. The pr i nar y assumption for the ARC calculation is the 7. 5%
di s count rate. The actuarial as sumpt i ons included an annual healthcare
cost trend rate of 11% initially, reduced by decrements to an ultinate
rate of 5% after 6 years. Liabilities are cornput ed using the proj ected
unit credit fret hod. The unfunded actuarial accrued liability was
anort i zed over a cl osed 25 year period. GASB' s standard requires an
actuarial valuation bi enni ally for empl oyer s with menber s hi p of 200 or
more employees, terminated enpl oyees who will be eligible for benefits,
and retired employees and beneficiaries receiving benefits. If there are
less than 200 plan members the actuarial valuation can be triennial.
Therefore, the January 1, 2009, actuarial valuation date wi l 1 be used for
t he pl an for December 31, 2010 reporting. The f of 1 owi ng shows the
components of the county's annual OPEB cost for the year, the armunt
actual 1 y cont r i but ed t o the pl an, and changes i n the county's net OPEB
obligation to Meld County:
COUNTY OF Me1 d County
STATE OF COLORADO
Year Ended December 31, 2010
Benefit Obligation and Normal Cost on December 31, 2010
Actuarial Accrued Liability
Ret i red Empl oyees
Active Enpl oyees
Total
Unfunded actuarial accrued liability (UAAL)
Normal cost beginning of year
Amortized factor based on 25 years
$ 5,411,716
2,934,307
$ 8,346,023
$ 8,346,023
99,753
11.6172
Level Dollar Amortization
Calculation on ARC under Projected Unit Credit Method on December 31,
2010
Amortization of UAAL over 25 years
Normal cost at beginning of year
Interest
Gross Annual Required Cont ri but i on
I nt er est Earned on Net 0BEP Asset
2010 Cross Annual Required Contribution
Empl oyee
2010 It County ARC
Decrease in net OPEB obl i gat i on
Unfunded actuarial
(ARC)
Contributions
County Cont r i but i on
$ 560,778
99, 753
49, 540
710, 071
(23, 297)
686, 774
( 188, 818)
497, 956
(1,364,055)
$ (866, 099)
accrued liability (UAAL) end of the
Covered Participants as of January 1, 2011
Active Employees
Retired Employees
Spouses of Retired Enpl oyees
Three -Year Trend
Fiscal Year End
December 31, 2008
December 31, 2009
December 31, 2010
Information:
Annual Required
Contribution (ARC)
$ 710,071
$ 710,071
$ 710,071
year $5, 795, 169.
85
92
27
Percentage of
ARC Contributed
122%
119%
218%
204
Net OPEB
Asset
$ (154, 157)
$ (291, 210)
$( 1, 157, 309)
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 calculated to determine the net OPEB obligation. The OPEB obligation
as of Etcenber 31, 2010 was $8,346,023, there were $2,550,854 in assets
on December 31, 2010 for unfunded actuarial accrued liability (Irma).
69
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Funded Status and Funding Progress. The funded status of the plan as of
December 31, 2010, was as follows:
Actuarial Accrued Liability ( AAL) $ 8,346,023
Actuarial value of plan assets $ 2, 550, 854
Unfunded actuarial accrued liability (UAAL) $ 5,795, 169
Funded ratio (actuarial value of plan assets/AAL) 30. 1%
Actuarial valuations involve estimates of the value of reported amounts
and as s umpt i ons about the probability of events far into the future, and
actuarially det er mi ned amount s are subject t o continual revision as
actual results are compared to past expect at i ons and new estimates are
made about the future.
The required schedule of fundi ng progress presents rail t i year t r end
information about 'whether the actuarial value of assets is increasing or
decreasing over time r el at i ve to the actuarial accrued liability for
benefits.
The actuarial calculations are based on the types of benefits provided
under the terms of the substantive pl an at the tine of each valuation and
on the pattern of sharing of costs between the employer and members to
that point and reflect a long- t erm perspective.
The \Ml d County OPEB Plan Assets are accounted for in the W1 d County
OPEB Plan Trust Fund. An IRC Section 115 Trust has been est abl i shed for
the W1d County OPEB Plan Trust.
Note 11 - Comtri t rent s and Contingencies :
Co nevi t went s
At year - end there were no projects under construction.
Col or ado voters passed an amendment to the St ate Constitution, Article X,
Section 20, whi ch has several l i nit at i ons, including revenue raising,
spending abilities, and other specific requirements of state and local
governments. The Amendment is complex and subject to judicial
interpretation. The entity believes it is in compliance with the
r equi r event s of the amendment . However , the entity has made cer t ai n
i nt erpr et at i ons of the amendment ' s 1 anguage i n or der t o det er mi ne i t s
compl i ance.
70
401(19.
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
The County participates in a number of federal and state grant programs.
Pr nci pal fundi ng agencies include Department of Labor, Commini t y
Services Admi ni st r at i on, Department of Health and Human Services,
Department of Housing and Urban revel oprrent , Economi c Development Agency,
and Area Agency on Agi ng. These pr ogr ans are s ubj ect t o pr ogr am
compl i ance audits by the grant ors or their representatives. The annunt ,
i f any, of expenditures which nay be disallowed by the granting agencies
cannot be det er mi ned at this time, alt hough the County expects such
anDunts, if any, to be imasterial.
Note 12 - Public Trustee:
Pursuant t o an act of the Color ado General As s embl y, the Val d Count y
Public Trustee is to be deemed an agency of the County for the purpose of
financial reporting.
Related activity has been reported in the General Agency Fund, with the
following activity identified strictly for the office of the Public
Trustee as of and for the year ended December 31, 2010
Assets
Liabilities
Fund Balance
Additions
Deduct i ons
$1, 539, 920
808, 526
731, 394
1, 570, 323
1, 531, 937
The Public Trustee started a retirement plan in December 2003. The
i s a defined contribution pl an under I nt er nal Revenue Code section
are set at
Funding 1 eve s
2009
2010
2011
9%
9%
9%
t he f of l owi ng:
Enpi oyer/ Enpi oyee
Enpl oyer/ Enpl oyee
Enpl oyer/ Enpl oyee
plan
71
COUNTY OF W 1 d Count y
STATE OF COLORADO
Year Ended Decenber 31, 2010
Note 14 - Non -Cash Activity in Social Services Fund
Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures
For the Year Ended December 31, 2010
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
5,098,982
10,249
118,556
5,217,538
128,805
Low -Income Energy
Assistance Program
2,428,086
-
423,941
2,852,027
423,941
Temporary Assistance for
Needy Families
2,880,822
746,114
1,499,365
4,380,187
2,245,479
Administration
12,205
2,441
7,364,437
7,376,642
7,366,878
Trails/Child Welfare
10,897,001
2,065,047
9,749,946
20,646,947
11,814,993
Core Services
1,802,127
269,368
200,486
2,002,613
469,854
Aid to the Needy Disabled
1,097,396
181,529
(117,729)
979,667
63,800
IV -D Administration
-
-
2,903,200
2,903,200
2,903,200
CHATS/Child Care
3,155,839
343,591
734,905
3,890,744
1,078,496
General Assistance
-
-
2,058,478
2,058,478
2,058,478
Subtotal
27,372,458
3,618,339
24,935,585
52,308,043
28,553,924
Food Assistance
35,095,808
-
45,020
35,140,828
45,020
Grand Total
62,468,266
3,618,339
24,980,605
87,448,871
28,598,944
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.
72
Required Supplementary
Information
d3 f3 Z filed
i N acs
•
4
COUNTY OF W1 d Count y
STATE OF COLORADO
Year Ended December 31, 2010
Schedule of Funding Progress - Retirement PI an
Actuarial
Val uat i on
Date
Actuarial
Value of
Assets
(a)
Actuarial
Accrued
Liability
( AAL)
Entry Age
(b)
Unfunded
AAL (UAAL)
(b- a)
Funded
Ratio
( a/ b)
Covered
Payroll (c)
UAAL as a
Percent age
of
Covered
Payroll
[b-a)/c]
1/1/04
$ 94,
496,
804
$112,
901,
278
$18,
404,
474
83. 7%
$36,
498,
310
50.4%
1/1/05
$ 98,
604,
182
$120,
956,
120
$22,
351,
938
81.5%
$38,
496,
866
58. 1%
1/ 1/06
$103,
979,
296
$136,
792,
785
$32,
813,
489
76. 0%
$41,
529,
717
79. 0%
1/1/07
$112,
874,
087
$150,
145,
842
$37,
271,
755
75. 2%
$44,
210,
410
84.3%
1/ 1/08
$125,
879,
138
$167,
011,
647
$41,
132,
509
75. 4%
$49,
967,
777
82.3%
1/1/09
$112,
079,
550
$176,
927,
890
$64,
848,
340
63. 3%
$53,
988,
779
120. I%
1/ 1/2010
$131,
288,
037
$186,
015,
431
$54,
727,
394
70. 6%
%53,
484,
492
102.3%
Schedule of Employer Cont r i but i ons
Year Ended
December 31
Annual
Requi red
Cont ribut ion( 1
- Retirement PI an
Actual
Cont r i but i on
Per cent age
Cont r i but ed
2004
2005
2006
2007
2008
2009
2010
("Requi red
$3, 125, 337
$4, 236, 858
$4, 236, 858
$4, 408, 097
$4, 928, 519
$7, 087, 011
$5, 417, 362
cont r i but i on at begi nni
$2, 234, 518
$2, 779, 636
$3, 205, 422
$3, 804, 640
$4, 184, 885
$4, 962, 224
$4, 885, 660
ng of year.
Schedule of Funding Progress - Other Post Employment
71.5%
65. 6%
75. 7%
83. 6%
84. 9%
70. 0%
90. 2%
Benefits
Actuarial
Valuation
Date
Actuarial
Value of
Assets
(a)
Actuarial
Accrued
Liability
( AAL)
Entry Age
(b)
Unfunded
AAL ( UAAL)
(b -a)
Funde
d
Ratio
( a/ b)
1/1/09
$ 1, 831, 353
$ 8, 346, 023
$ 6, 514, 670
21. 9%
1/1/ 10
$ 1, 856, 115
$ 8, 346, 023
$ 6, 489, 908
22.2%
1/ 1/ 1 1
$ 2, 550, 854
$ 8, 346, 023
$ 5, 795, 169
30. 1%
73
COUNTY OF WELD
STATE OF COLORADO
Required Supplementary Information
Modified Approach for Infrastructure Assets
Weld County prepares an annual gravel road plan. In doing this each of the sections of gravel roads has been evaluated
by supervisors. They use the State guidelines as out lined in Section 43 -2 -120(5)(a -b), C.R.S. 1973, which is stated
below. Since gravel roads condition can change quickly based on weather conditions the road plan may have to be
modified to take care of such problems. Therefore, an official road maintenance system is difficult to put in place. It is
the County's policy to maintain the roads in fair or better condition. The County's gravel plan details the replacement
and maintenance schedule required for the gravel roads, by segment, under ideal weather conditions based on traffic and
location. The day to day conditions of the gravel roads is continually monitored by the County's Motor Grader division
whose sole responsibility is to maintain the condition of the gravel roads, the following table details the condition
assessment in total miles and percentage reported at the end of the last three fiscal periods.
Condition
Good
Fair
Poor
Miles
1827
456
47
2010
% of Total
78.4%
19.6%
2.0%
Miles
1747
534
49
Comparison of Estimated -to -Actual Maintenance/Preservation
2006
Estimated $ 1,861,200
Actual $ 1,804,000 $ 1,892,000 $ 2,169,920 $ 1,572,615 $ 3,046,576
2009
% of Total
74.9%
22.9%
2.2%
Miles
2036
277
50
2008
% of Total
86.2%
11.8%
2.0%
2007 2008 2009 2010 2011
$ 3,328,512 $ 2,666,172 $ 2,947,356 $ 2,915,000 $ 3,160,000
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.
74
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, 2010
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
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
$ 54,302,164
100,000
$ 54, 302 ,164
100,000
(249,970) (249,970)
54,152,194 54,152,194
5,000
350,000
500,000
90,000
5,000
350,000
1,700,000
240,000
945,000 2,295,000
2,000
2,800,091
191,460
354,240
660,973
2,000
3,164,891
266,460
529,240
3,347,791 4,623,564
200,000
3,279,736
129,000
28,500
330,000
3,360,036
129,000
28,500
3,637,236 3,847,536
424,110 439,110
424,110 439,110
1,319,683
2,393,000
425,336
750,000
2,355,468
2,393,000
435,336
1,550,000
4,888,019 6,733,804
Actual
$ 53,834,949
80,602
87,426
Variance
$ (467,215)
(19,398)
87,426
249,970
54,002,977 (149,217)
5,825
212,346
1,658,574
237,296
825
(137,654)
(41,426)
(2,704)
2,114,041 (180,959)
846,165
3,393
4,117,482
461,101
273,028
185,192
1,393
952,591
194,641
(256,212)
5,701,169 1,077,605
323,280
2,887,133
123,688
25,078
(6,720)
(472,903)
(5,312)
(3,422)
3,359,179 (488,357)
35,685
543,585
35,685
104,475
579,270 140,160
2,784,927
1,941,760
449,830
2,556,866
429,459
(451,240)
14,494
1,006,866
7,733,383 999,579
75
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2010
Budget - GAAP Basis
Original Final Actual Variance
REVENUES (CONTINUED)
Fees:
Fee account
Treasurer's fees
Cable fees
Total Fees
Total Revenues
EXPENDITURES
General Government:
Office of the Board
County Attorney
Planning and zoning
Clerk to the Board
County Clerk
Elections and registration
Motor vehicle
County Treasurer
County Assessor
Maintenance of buildings/grounds
County Council
District Attorney
Juvenile Diversion Grant
Victim Assistance
MYAT - Probation
Financial administration
General accounting
Purchasing
Personnel
Geographical Information Systems
Computer Services
Printing and Supply
Transportation
Smart Energy Project
Total General Government
7,212,000
50,000
50,000
8,147,000
50,000
70,000
7,312,000 8,267,000
74,706,350 80,358,208
8,417,356
57,335
62,812
270,356
7,335
(7,188)
8,537,503 270,503
82,027,522 1,669,314
739,143 769,143 725,475 43,668
724,219 724,219 690,670 33,549
1,428,803 1,429,073 1,328,231 100,842
309,991 314,991 297,757 17,234
839,814 858,689 839,867 18,822
1,751,555 1,751,555 990,836 760,719
1,752,025 1,760,025 1,767,123 (7,098)
851,487 922,607 952,363 (29,756)
2,305,357 2,385,837 2,285,627 100,210
4,880,882 5,806,302 6,098,498 (292,196)
51,741 51,741 10,136 41,605
4,728,142 4,751,177 4,612,532 138,645
78,481 78,481 72,273 6,208
642,926 642,926 1,358,635 (715,709)
- 40,000 44,842 (4,842)
480,527 511,112 478,439 32,673
629,778 629,778 590,090 39,688
149,740 149,740 145,927 3,813
680,190 807,190 686,438 120,752
104,201 104,201 90,806 13,395
1,916,488 2,736,488 3,079,834 (343,346)
391,455 428,455 375,266 53,189
733,145 764,145 718,970 45,175
- - 1,813 (1,813)
26,170,090 28,417,875 28,242,448 175,427
(CONTINUED)
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, 2010
Budget - GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED)
Public Safety
Sheriff administration
Crime control and investigations
Traffic control
Municipal Service Contracts
Task force
Regional forensic laboratory
Communications services
Criminal justice
Justice Services
County Coroner
Correctional administration
Community correction
Building inspection
Office of emergency management
Waste water management
Animal control
Pest/weed control
Victim Advocates
Total Public Safety
Public Works:
General engineering
Extension services
Veteran office
Airport
Total Public Works
Public Health and Welfare:
Mental health
Developmentally disabled
Seniors program
Economic development
A Kid's Place
Total Public Health and Welfare
Culture and Recreation:
Missile site park
Parks and Trails
County fair
Total Culture and Recreation
1,441,575 1,481,555 1,462,324 19,231
7,034,033 7,399,433 7,379,177 20,256
1,043,131 1,183,131 1,143,627 39,504
616,918 641,918 628,000 13,918
165,260 165,260 209,079 (43,819)
271,407 279,192 232,938 46,254
1,440,894 1,451,344 1,437,569 13,775
850,376 2,295,701 855,296 1,440,405
478,821 478,821 416,364 62,457
633,940 658,015 661,995 (3,980)
20,035,186 19,635,186 19,184,089 451,097
2,126,141 2,116,141 2,297,317 (181,176)
892,831 907,831 913,371 (5,540)
159,325 164,325 159,803 4,522
11,367 11,367 9,616 1,751
451,995 451,995 402,999 48,996
511,530 511,530 465,859 45,671
136,863 145,863 136,956 8,907
38,301,593 39,978,608 37,996,379 1,982,229
2,191,462
324,630
68,322
1,974
2,166,462
324,660
69,322
11,974
2,586,388 2,572,418
171,000
39,206
10,625
89,250
7,025
171,000
39,206
10,625
474,250
7,025
317,106 702,106
70,702
32,000
308,945
76,702
32,000
308,945
411,647 417,647
1,767,520
340,601
67,876
1,974
398,942
(15,941)
1,446
10,000
2,177,971 394,447
170,971
39,206
10,625
278,144
7,025
29
196,106
505,971 196,135
77,968
32,000
665,873
(1,266)
(356,928)
775,841 (358,194)
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, 2010
Budget - GAAP Basis
EXPENDITURES (CONTINUED)
Miscellaneous:
Other
Building rents
Total Miscellaneous
Capital Outlay:
Capital purchases
Original Final
527,405
91,500
1,389,300
91,500
618,905 1,480,800
1,424,311 1,113,311
Total Expenditures 69,830,040
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
3,064,252
(3,064,252)
74,682,765
9,064,252
Actual
1,295,935
70,369
1,366,304
941,139
Variance
93,365
21,131
114,496
172,172
72,006,053 2,676,712
85,000
9,064,252
(9,064,252) (8,979,252)
1,812,058 (3,388,809)
10,807,371 10,807,371
85,000
85,000
1,042,217 4,431,026
10,807,371
$ 12,619,429 $ 7,418,562 $ 11,849,588 $ 4,431,026
WELDtCOUNTY
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, 2010
Budget - GAAP Basis
REVENUES:
Taxes:
General property taxes
Severance Tax
Specific ownership taxes
Penalties & Interest
Total Taxes
Licenses and Permits
Moving permits
Intergovernmental:
Mineral leasing
Grazing act
Payment in lieu of taxes
Grants
Motor vehicle registration fees
Highway user tax fund
Total Intergovernmental
Charges for Services:
Charges for services
Miscellaneous:
Earnings on deposits
Special assessments
Miscellaneous
Total Miscellaneous
Fees:
Other fees
Total Revenues
Original Final
$ 7,354,938 $ 7,354,938
1,600,000 1,600,000
6,330,000 6,330,000
15,284,938
325,000
150,000
80,000
20,000
675,000
310,000
9,530,000
10,765,000
680,000
680,000
27,054,938
15, 284, 938
325,000
150,000
80,000
20,000
1,029,000
310,000
9,530,000
11,119,000
175,000
680,000
680,000
27,583,938
Actual
$ 7,325,465
764,976
6,018,003
11,909
14,120,353
398,958
529,560
90,890
32,852
1,281,285
333,735
9,858,110
12,126,432
1,195,521
53,713
4,374
42,879
100,966
223,699
28,165,929
Variance
$ (29,473)
(835,024)
(311,997)
11,909
(1,164,585)
73,958
379,560
10,890
12,852
252,285
23,735
328,110
1,007,432
1,020,521
53,713
4,374
(637,121)
(579,034)
223,699
581,991
80
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, 2010
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
Capital outlay
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
3,956,967
5,703,389
1,422,201
3,303,404
1,421,455
681,033
5,457,045
4,251,772
26,197,266
1,390,650
24,000
27,611,916
(556,978)
4,356,967
5,903,389
1,432,201
3,808,404
1,651,455
730,433
7,262,045
2,286,772
27,431,666
1,390,650
24,000
28,846,316
(1,262,378)
Actual
4,143,166
5,606,193
1,178,626
3,633,731
1,902,458
975,488
6,200,746
1,365,899
25,006,307
1,343,755
19,850
26,369,912
1,796,017
23,278,851 23,278,851 23,278,851
$ 22,721,873 $ 22,016,473 $ 25,074,868
Variance
213,801
297,196
253,575
174,673
(251,003)
(245,055)
1,061,299
920,873
2,425,359
46,895
4,150
2,476,404
3,058,395
$ 3,058,395
8!
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, 2010
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Intergovernmental:
Welfare
Total Revenues
EXPENDITURES
Public Health and Welfare:
Administrative - regular
Administrative - IV -D
Food stamps
Other Programs
General assistance
TANF
AND - State
Child welfare
Day care
Original Final
$ 6,166,333 $ 6,166, 333
6,166,333 6,166,333
18,325,167
24,491,500
3,850,000
2,645,000
1,420,000
183,500
3,075,000
104,000
11,150,000
1,090,000
19,425,167
25,591,500
3,850,000
2,645,000
1,420,000
1,283,500
3,075,000
104,000
11,150, 000
1,090,000
Actual
Variance
$ 6,141,431 $
9,883
6,151,314
23,006,140
29,157,454
3,850,192
2,903,199
45,020
1,441,304
4,040,660
2,245,479
63,800
11,908,195
1,078,495
(24,902)
9,883
(15,019)
3,580,973
3,565,954
(192)
(258,199)
(45,020)
(21, 304)
(2,757,160)
829,521
40,200
(758,195)
11,505
82
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, 2010
Budget - GAAP Basis
EXPENDITURES (CONTINUED):
OAP - A
Core services
Administrative - LEAP
Total Public Health and Welfare
Capital Outlay
Total Expenditures
Transfers - In:
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Original Final
162,000
360,000
197,000
162,000
360,000
197,000
24,236,500 25,336,500
255,000
255,000
24,491,500 25,591,500
Fund Balances at Beginning of Year 1,120,521
1,000,000
1,000,000
1,000,000
1,120,521
Actual
128,806
469,856
423,938
Variance
33,194
(109,856)
(226,938)
28,598,944 (3,262,444)
255,000
28,598,944 (3,007,444)
1,000,000
1,000,000
1,558,510
1,120,521
558,510
Fund Balances at End of Year $ 1,120,521 $ 2,120,521 $ 2,679,031 $ 558,510
83
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, 2010
Budget - GAAP Basis
Original Final Actual Variance
REVENUES
Intergovernmental:
Federal grants
State grants
Total Intergovernmental
Charges for Services:
Charges for services
Total Charges for Services
Miscellaneous:
Donations from private sources
Other revenue
Total Miscellaneous
Total Revenues
EXPENDITURES
Economic Assistance:
Human resources general fund
Preschool program
FENWC carryover
Job service
Summer job hunt
Jobs/New directions
Employment first
TANF
WIA administration
WIA adult programs
WIA youth programs
JTPA IIB
10% Discretionary Grant
National emergency
WIA planning
WIA dislocated worker
Human resources lab pool
UI training program
$ 5,969,123 $ 6,324,123 $ 6,419,653 $ 95,530
2,050,764 2,235,064 1,969,218 (265,846)
8,019,887 8,559,187 8,388,871 (170,316)
310,000 420,000
310,000 420,000
145,100 145,100
145,100 145,100
8,474,987 9,124,287
645,154 225,154
645,154 225,154
158,986
(20)
13,886
(20)
158,966 13,866
9,192, 991 68,704
5,130 5,521
49,456
2,560
806,000 885,000 910,994
33,000 33,000 34,501
50,000 50,000 -
178,500 325,000 303,601
738,220 738,220 720,376
155,200 191,000 207,538
582,000 582,000 478,333
549,473 549,473 303,551
54,578 54,578 14,906
27,220 59,220 85,936
69,000 67,311
25,000 25,000 27,887
433,500 533,500 549,689
240,000 350,000 264,163
200,000 200,000 398,903
(391)
(49,456)
(2,560)
(25,994)
(1,501)
50,000
21,399
17,844
(16,538)
103,667
245,922
39,672
(26,716)
1,689
(2,887)
(16,189)
85,837
(198,903)
84
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, 2010
Budget - GAAP Basis
EXPENDITURES (CONTINUED):
One stop
Family support program
AAA administration
OAA title III -B
OAA title III -C1 congregate
OAA title III -C2
OAA in home support
AAA elder abuse
AAA ombudsman
Single entry point
Wellspring/Health fund
NCMC Grant
Vale Grant
AAA case management
AAA state funds
Supplemental foods
Part E family caregiver support
CSBG
Hire Colorado
Total Economic Assistance
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
OAA area agency
Total Other Financing Sources
Original Final
217,695
83,051
76,951
230,430
450,110
41,450
20,210
2,910
6,830
998,280
7,000
10,000
476,520
1,428,630
85,310
279,270
217,695
83,051
76,951
285,430
470,110
41,450
20,210
2,910
6,830
998,280
7,000
12,000
476,520
1,428,630
85,310
279,270
8,487,338 9,141,768
8,487,338 9,141,768
12,351 12,351
12,351 12,351
Actual
234,748
19,952
61,483
300,208
491,136
32,637
2,362
2,187
5,155
1,010,944
2,323
12,897
(5,737)
479,834
1,394,970
37,649
200,077
378,250
9,086,301
9,086,301
12,351
12,351
Net Change in Fund Balance - (5,130) 119,041
Fund Balances at Beginning of Year 1,211,369 1,211,369 1,211,369
Fund Balances at End of Year
Variance
(17,053)
63,099
15,468
(14, 778)
(21,026)
8,813
17,848
723
1,675
(12,664)
(2,323)
7,000
(897)
5,737
(3,314)
33,660
47,661
79,193
(378,250)
55,467
55,467
124,171
$ 1,211,369 $ 1,206,239 $ 1,330,410 $ 124,171
85
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, 2010
Budgeted
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Original Final
Actual
Variance
$ 20,567,181 $ 20,567,181 $ 20,465,137 $ (102,044)
- 32,787 32,787
20,567,181 20,567,181
20,567,181 20,567,181
7,400,000 7,400,000
7,400,000 7,400,000
13,167,181 13,167,181
20,497,924
20,497,924
20,497,924
6,449,006 6,449,006 6,449,006
(69,257)
(69,257)
7,400,000
7,400,000
7,330,743
Fund Balances at End of Year $ 19,616,187 $ 19,616,187 $ 26,946,930 $ 7,330,743
86
Supplemental Information
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2010
NON -MAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Special revenue funds account for taxes or other earmarked revenue of the County that finances specified
activities as required by law or administrative action.
Conservation Trust Fund:
The Conservation Trust Fund accounts for revenue received from the State of Colorado to be used for
the acquisition, development and maintenance of new and existing conservation sites within Weld
County. The funds are derived from the Colorado State Lottery.
Emergency Fund:
The Emergency Fund accounts for the "Emergency Reserve" required by "Amendment One" to the
Colorado Constitution.
Public Health Fund:
The Weld County Public Health Department provides health services to County residents. The fund
reflects revenue and expenditures for health care, health education, health monitoring and other
related activities.
Solid Waste Fund:
This fund accounts for revenue received from a surcharge on dumping fees at solid waste disposal
sites for the purpose of combating environmental problems and for the further improvement and
development of landfill sites within the County.
Law Enforcement Authority Funds
These funds accounts for the revenue of the law enforcement authority. The authority is a taxing unit
created by the County to provide additional law enforcement services by the County Sheriff to
residents in a developed unincorporated area of the County
87
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2010
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.
88
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2010
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.
89
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2010
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
90
WELDtCOUNTY
COUNTY OF WELD
STATE OF COLORADO
Combining Balance Sheet
Non -Major Governmental Funds
December 31, 2010
Conservation Emergency Public Health
Trust Fund Fund Fund
ASSETS
Cash and cash equivalents
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
Other liabilities
Due to other County funds
Unearned revenue
Unexpended grant revenue
Total Liabilities
Fund Balances:
Reserved for other assets
Reserved for emergency
Unreserved:
Designated for future year's expenditure
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
$ 272,533 $ 6,000,000 $ 1,665,188
792,422
- 5,480
$ 272,533 $ 6,000,000 $ 2,463,090
6,000,000
64,543
226,000
2,187
139,810
432,540
5,480
272,533 - 2,025,070
272,533
6,000,000 2,030,550
$ 272,533 $ 6,000,000 $ 2,463,090
92
Total
Law Nonmajor
Solid Waste Enforcement Governmental
Fund Authority Fund Funds
$ 459,917
84,183
$ 544,100
$ 8,397,638
876,605
5,480
$ 9,279,723
2,833 - 67,376
226,000
2,187
139,810
2,833 - 435,373
5,480
6,000,000
541,267 - 2,838,870
541,267 - 8,844,350
$ 544,100
$ 9,279,723
9J
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, 2010
Conservation Emergency Public Health
Trust Fund Fund Fund
REVENUES:
Taxes:
Taxes
Intergovernmental
Charges for services
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety
Public health and welfare
Culture and recreation
Capital outlay
Total Expenditures
Excess of Revenues Over (Under)
Expenditures
Other Financing Sources (Uses):
Transfers - In
Transfers - Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ - $
382,578 - 3,416,153
1,427, 789
4,422 - 39,849
387,000 - 4,883,791
7,802,907
373,232 - -
52,528
373,232 - 7,855,435
13,768 - (2,971,644)
13,768
258,765
6,000,000
3,559,810
3,559,810
588,166
1,442,384
$ 272,533 $ 6,000,000 $ 2,030,550
94
Solid Waste
Fund
1,143,587
1,143,587
157,913
157,913
985,674
(592,909)
(592,909)
392,765
148,502
Law
Enforcement
Authority
Funds
$ 2 5, 896
25,896
27,041
27,041
(1,145)
(1,145)
1,145
$ 541,267 $
Total
Nonmajor
Governmental
Funds
$ 25,896
3,798,731
2,571,376
44,271
6,440,274
184,954
7,802,907
373,232
52,528
8,413,621
(1,973,347)
3,559,810
(592,909)
2,966,901
993,554
7,850,796
$ 8,844,350
95
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, 2010
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
$ 7,300,000 $ 7,300,000 $ 7,269,163 $ (30,837)
- 12,164 12,164
7,300,000
2,500,000
100,000
100,000
7,300,000
2,900,000
40,000
100,000
10,000,000 10,340,000
12,426,515 15,266,515
12,426,515 15,266,515
2,500,000
2,500,000
7,281,327
66,255
104,047
(18,673)
(2,900,000)
26,255
4,047
7,451,629 (2,888,371)
7,614,178
7,614,178
2,500,000
2,500,000
(2,426,515) (2,426,515) 2,337,451
4,043,568 4,043,568 4,043,568
7,652,337
7,652,337
4,763,966
$ 1,617,053 $ 1,617,053 $ 6,381,019 $ 4,763,966
96
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, 2010
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
State lottery
Miscellaneous:
Earnings on deposits
Total Revenues
EXPENDITURES
Culture and Recreation:
Land improvements
Capital Expenditures
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund balances at End of Year
$ 430,000 $ 430,000 $ 382,578 $ (47,422)
5,000 5,000 4,422 (578)
435,000 435,000
374,962
60,038
374,962
60,038
435,000 435,000
387,000 (48,000)
373,232
1,730
60,038
373,232 61,768
13,768
258,765 258,765 258,765
13,768
$ 258,765 $ 258,765 $ 272,533 $ 13,768
97
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, 2010
Budgeted
REVENUES
Taxes:
Total Revenues
EXPENDITURES
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
6,000,000
(6,000,000)
6,000,000
6,000,000
(6,000,000)
6,000,000
$ - $
Actual
6,000,000
$ 6,000,000
Variance
6,000,000
6,000,000
$ 6,000,000
98
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, 2010
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
State grants
Federal 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:
Public Health Preparedness
Total Capital Outlay
Total Expenditures
$ 3,445,829 $ 3,796,925 $ 3,333,995 $ (462,930)
- - 2,500 2,500
- - 79,658 79,658
3,445,829 3,796,925 3,416,153 (380,772)
1,401,875
1,401,875
2,500
41,000
43,500
1,419,509
1,419,509
2,500
13,000
29,000
44,500
1,427,789
1,427,789
8,060
3,660
28,129
39,849
8,280
8,280
5,560
(9,340)
(871)
(4,651)
4,891,204 5,260,934 4,883,791 (377,143)
191,450
566,303
5,224,593
2,327,508
141,160
8,451,014
192,575
959,224
4,532,890
2,543,242
890,903
9,118,834
60,000
60,000
8,451,014 9,178,834
181,165
1,036,453
3,651,753
2,350,075
583,461
7,802,907
11,410
(77,229)
881,137
193,167
307,442
1,315,927
52,528 7,472
52,528 7,472
7,855.435 1,323,399
Other Financing Sources (Uses):
Transfers - In:
Non Departmental 3,559,810 3,559,810 3,559,810
Total Other Financing Sources 3,559,810 3,559,810 3,559,810
Net Change in Fund Balance
Fund Balances at Beginning of Year 1,442,384
Fund Balance at End of Year $ 1,442,384 $ 1,084,294 $ 2,030,550 $ 946,256
(358,090) 588,166 946,256
1,442,384 1,442,384
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, 2010
Budgeted
Original Final Actual Variance
REVENUES
Landfill surcharge
Total Revenues
EXPENDITURES
Miscellaneous:
Solid waste
Total Miscellaneous
Total Expenditures
Other Financing Sources (Uses):
Transfers - Out:
General Fund
Health department
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
$ 660,000 $ 660,000 $ 1,143,587 $ 483,587
660,000 660,000
67,091 67,091
67,091 67,091
67,091 67,091
(85,000)
(507,909)
(592,909)
(85,000)
(507,909)
1,143,587 483,587
157,913 (90,822)
157,913 (90,822)
157,913 (90,822)
(85,000)
(507,909)
(592,909) (592,909)
392,765 392,765
148,502 148,502 148,502
Fund Balances at End of Year $ 148,502 $ 148,502 $ 541,267 $ 392,765
100
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, 2010
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
$ 12,517 $ 12,517 $ 12,517 $
1,000 1,000 775
- - 25
13,517 13,517
13,517 13,517
13,517 13,517
Fund Balances at Beginning of Year 476
Fund Balances at End of Year
(225)
25
13,317 (200)
13,793 (276)
13,793 (276)
(476) (476)
476 476
$ 476 $ 476 $
$ (476)
101
COUNTY OF WELD
STATE OF COLORADO
Pioneer Community Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2010
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
$ 1,144 $ 1,144 $ 974 $ (170)
700 700 71 (629)
- 24 24
1,844 1,844
1,069 (775)
1,844 1,844 1,738 106
1,844 1,844 1,738 106
Fund Balances at Beginning of Year 669
Fund Balances at End of Year
(669) (669)
669 669
$ 669 $ 669 $
$ (669)
102
COUNTY OF WELD
STATE OF COLORADO
South West Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2010
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 11,739 $ 11,739 $ 11,510 $ (229)
11,739 11,739
11,739 11,739
11,739 11,739
$ - $
11,510 (229)
11,510 229
11,510 229
$ - $
103
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, 2010
Budgeted
Original Final Actual Variance
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
$ - $
2,589,567 2,589,567
2,589,567 2,589,567
2,589,567 2,589,567
$ - $
2,726,551 136,984
2,726,551 136,984
10,426 10,426
170,711 170,711
181,137 181,137
2,907,688 318,121
2,311,830 2,311,830 2,402,066 (90,236)
260,304 260,304 359,347 (99,043)
55,725 (55,725)
2,572,134 2,572,134
2,817,138 (245,004)
17,433 17,433 90,550 73,117
2,373,770 2,373,770
$ 17,433 $ 17,433 $ 2,464,320 $ 2,446,887
104
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, 2010
Budgeted
REVENUES
Miscellaneous:
Earnings on deposits
Charge for service
Total Revenue
EXPENDITURES
Personnel Services
Depreciation
Purchased services
Supplies
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
$ 90,000 $ 90,000
1,965,000 1,965,000
2,055,000 2,055,000
895,156
121,000
744,449
194,479
895,156
121,000
744,449
194,479
1,955,084 1,955,084
99,916
5,375,576
99,916
5,375,576
Actual
Variance
$ 72,231 $ (17,769)
2,146,748 181,748
2,218,979
252,398
2,035,611
65,197
2,353,206
(134,227)
5,375,576
163,979
895,156
(131,398)
(1,291,162)
129,282
(398,122)
(234,143)
$ 5,475,492 $ 5,475,492 $ 5,241,349 $ (234,143)
105
The public report burden for this information collection is estimated to average 380 hours annually.
Financial Planning 02/01
Form # 350-050-36
LOCAL HIGHWAY FINANCE REPORT
City or County:
Weld
YEAR ENDING :
December 2010
This Information From The Records Of County of Weld:
Prepared By: Barbara Connolly
Phone: (970) 356-4000 X4445
I. DISPOSITION OF HIGHWAY -USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE
ITEM
1. Total receipts available
A. Local
Motor -Fuel
Taxes
PURPOSES
B. Local
Motor -Vehicle
Taxes
III. DISBURSEMENTS
AND
C. Receipts from
State Highway-
User Taxes
FOR
STREET PURPOSES
D. Receipts from
Federal Highway
Administration
ROAD
2. Minus amount used for collection expenses
3. Minus amount used for nonhighway purposes
4. Minus amount used for mass transit
5. Remainder used for hi:hwa . Doses
II. RECEIPTS FOR ROAD AND STREET
ITEM
AMOUNT
ITEM
AMOUNT
A. Receipts from local sources:
A. Local highway disbursements:
1. Local highway -user taxes
1. Capital outlay (from page 2)
8,652,287
a. Motor Fuel (from Item I.A.5.)
2. Maintenance:
14,161,965
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
900,136
3. Other local imposts (from page 2)
13,359,751
c. Other
336,282
4. Miscellaneous local receipts (from page 2)
1,914,770
d. Total (a. through c.)
1,236,417
5. Transfers from toll facilities
4. General administration & miscellaneous
2,319,243
6. Proceeds of sale of bonds and notes:
5. Highway law enforcement and safety
a. Bonds - Original Issues
6. Total (1 through 5)
26 369 912
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)
15,274,521
b. Redemption
B. Private Contributions
c. Total a. + b.
0
C. Receipts from State government
(from page 2)
2. Notes:
12,238,106
a. Interest
D. Receipts from Federal Government
from page 2)
b. Redemption
653,302
c. Total (a. + b.)
0
3. Total (1.c + 2.c)
0
E. otal recei ' is (A.7 + B + C + D)
28,165,929
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements (A.6 + B.3 + C + D)
26,369,912
IV. LOCAL HIGHWAY
(Show all entries
DEBT STATUS
at par)
Opening Debt
Amount Issued
Redemptions
Closing Debt
A. Bonds Total
0
1. Bonds efundin Portion
B. otes ota )
)
V. LOCAL ROAD AND STREET FUND BALANCE
A. Beginning Balance
B. Total Receipts IC. Total Disbursementi D. Ending Balance
E. Reconciliation
23,278,851
28,165,929
26,369,912
1 25,074,868
(0)
Notes and Comments:
FORM FHWA-536 (Rev. 1-05)
PREVIOUS EDITIONS OBSOLETE
1
(Next Page)
106
2010 Local Highway Finance Report.xlsx
LOCAL HIGHWAY FINANCE REPORT
STATE:
Colorado
YEAR ENDING (mm/yy):
December 2010
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
7,341,748
a. Interest on investments
53,713
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
1,195,521
5. Specific Ownership &/or Other
6,018,003
g. Other Misc. Receipts
622,657
6. Total (1. through 5.)
6,018,003
h. Other
42,879
c. Total a. + b.
13,359,751
(Ca forward to .a_e 1)
i. Total a. through h.
1,914,770
(Ca forward to .a_e I)
ITEM
AMOUNT
ITEM
AMOUNT
C. Recei i ts from State Government
D. Recei i ts from Federal Government
1. Hi:hwa -user taxes
10,782,025
1. FHWA from Item I.D.5.
2. State general funds
2. Other Federal agencies:
3. Other State funds:
a. Forest Service
90,890
a. State bond proceeds
b. FEMA
b. Project Match
c. HUD
c. Motor Vehicle Registrations
333,735
d. Federal Transit Admin
d. Other (Specify)
357,370
e. U.S. Corps of Engineers
e. Other (Specify)
764,976
f. Other Federal
562,412
f. Total (a. through e.)
1,456,081
g. Total (a. through f.)
653,302
4. Total 1. + 2. + 3.
III. DISBURSEMENTS
12,238,106
FOR ROAD AND STREET
3. Total 1. + 2.:
PURPOSES - DETAIL
653,302
(Carry forward to page I)
A.1. Ca i ital outla :
a. Right -Of -Way Costs
ON NATIONAL
HIGHWAY
SYSTEM
a
OFF NATIONAL
HIGHWAY
SYSTEM
b
183,088
TOTAL
c
183,088
b. En:ineerin: Costs
c. Construction:
1,740,651
1,740,651
0
(1). New Facilities
(2). Capacity Improvements
3,299,238
3,299,238
(3). System Preservation
3,429,310
3,429,310
(4). System Enhancement & Operation
0
(5). Total Construction (1) + (2) + (3) + (4)
0
6,728,548
6,728,548
d. Total Ca,ital Outla Lines l.a. + 1.b. + 1.c.5
0
8,652,287
8,652,287
(Carry forward to page I)
Notes and Comments:
FORM FHWA-536 (Rev.1-05)
PREVIOUS EDITIONS OBSOLETE
2
107
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Net Assets
Internal Service Funds
December 31, 2010
Motor Vehicle Health
Fund Insurance Fund Insurance Fund
ASSETS
Current Assets:
Cash and cash equivalents
Receivables (net of allowances for uncollectables):
Current property taxes
Delinquent property taxes
Accounts
Due from other county funds
Inventories
Other assets
Total current assets
Fixed assets:
Improvements other than buildings
Buildings
Machinery and equipment
Accumulated depreciation
Total Fixed Assets
Total assets
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable
Accrued liabilities
Due to other county funds
Unearned revenue
Deferred revenue
Total Current Liabilities
Long-term liabilities:
Certificates of participation
Total Long-term Liabilities
Total Liabilities
Net Assets
Invested in capital assets
Restricted for:
Insurance Claims
Unrestricted
Total net assets
$ 2,666,166 $ 4,598,461 $ 3,262,797
20,773
8,049
83,024
2,778,012
580,500
1,800,977
30,950,919
(19,874,358)
13,458,038
1,514,333
24,185
16,000
38,762 275,488
4,637,223 5,092,803
$ 16,236,050 $ 4,637,223 $ 5,092,803
$ 563,994 $ 45,794 $ 106,201
- 1,980,953 2,027,213
- 51
563,994
563,994
13,458,038
2,214,018
1,017,000
1,541,300
3,043,798 3,674,714
3,043,798 3,674,714
1,593,425 1,418,089
$ 15,672,056 $ 1,593,425 $ 1,418,089
108
Phone Services
Fund
$ 970,544
20,232
6,841
997,617
1,981,928
(1,454,826)
527,102
$ 1,524,719
$ 4,243
15,209
19,452
19,452
527,102
978,165
Total Internal
Service Funds
$ 11,497,968
1,514,333
24,185
41,005
24,049
83,024
321,091
13, 505, 655
580,500
1,800,977
32, 932, 847
(21,329,184)
13,985,140
$ 27,490,795
$ 720,232
4,023,375
51
1,541,300
1,017,000
7,301,958
7,301,958
13,985,140
3,011,514
3,192,183
$ 1,505,267 $ 20,188,837
109
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, 2010
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
Gain (loss) on disposition of assets
Judgements and damages
Total nonoperating revenues (expenses)
Income (loss) before contributions and transfers
Capital contributions
Transfers in
Changes in net assets
Total net assets - beginning
Total net assets - ending
Motor Vehicle
Fund
7,368,396
Health Insurance
Fund
$ 11,930,003
7,368,396 11,930,003
2,046,437
2,984,261
2,781,438
58,530
212
12,826
353,720
491
13,416,403
7,870,666 13,783,652
(502,270) (1,853,649)
100
306,886
107,566
414,552
(87,718)
7,972
(79,746)
15,751,802
$ 15,672,056
(1,853,649)
(1,853,649)
3,447,074
$ 1,593,425
Insurance Fund
145,984
145,984
1,760
36,006
731,163
1,412,340
2,181,269
(2,035,285)
1,496, 370
59,245
18,007
1,573,622
(461, 663)
1,000,000
538,337
879,752
$ 1,418,089
110
Phone Services Total Internal
Fund Set -vice Funds
$ - $ 11,930,003
1,146, 796 8,661,176
1,146, 796 20,591,179
146,632 146,844
35,536 2,096,559
793,346 4,167,333
- 731,163
211,060 2,992,498
44,860 103,881
14,828,743
1,231,434 25,067,021
(84,638) (4,475,842)
1,496,370
100
59,245
306,886
125,573
1,988,174
(84,638) (2,487,668)
- 7,972
- 1,000,000
(84,638) (1,479,696)
1,589,905 21,668,533
$ 1,505,267 $ 20,188,837
Ill
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Internal Service Funds
For the fiscal year ended December 31, 2010
Motor Vehicle Health Insurance Insurance
Fund Fund Fund
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers
Cash flows from internal customers
Cash payments to external suppliers for goods and services
Cash payments to internal suppliers for goods and services
Cash payments to employees for services
Judgements/damages/losses
Miscellaneous revenues
Net cash provided (used) by operating activities
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes
Transfers/Advances
770,772 - 1,100
7,042,481 12,015,395 146,184
(4,855,689) (11,611,689) (2,154,883)
(115,101) (4,619)
- (239, 685) -
107,566 - 18,007
100
2,950,129
159,402 (1,989,592)
- - 1,497,209
- 1,000,000
Net cash provided by noncapital financing activities - - 2,497,209
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Proceeds from sale of capital assets
financing activities
(2,069,417)
634,029
(1,435,388)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments - - 59,245
Net Increase (decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of operating income to net cash
provided (used) by operating activities:
Operating income (loss)
Adjustments to reconcile operating income to
net cash provided (used ) by operating activities:
Depreciation expense
Judgements/damages/losses
Miscellaneous revenue
Change in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in due from other funds
(Increase) decrease in inventories
(Increase) decrease in other assets
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in other liabilities
Increase (decrease) in deferred revenue
Total adjustments
Net cash provided (used) by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Loss on Disposal of Asset
See Accompanying notes to the basic financial statements
1,514,741 159,402 566,862
1,151,425 4,439,059 2,695,935
2,666,166
4,598,461 3,262,797
(502,270) (1,853,649) (2,035,285)
2,781,438
107,566 - 18,007
100
549,031 203 -
- - 200
(11,212) - -
- (38,762) (275,488)
27,635 22,743 (5,781)
- 1,980,953 308,755
(2,159) (749)
- 48,663
3,452,399
2,950,129
7,972
93,281
2,013,051 45,693
159,402 (1,989,592)
112
Phone Service Total Internal
Fund Service Funds
114,503 886,375
977,296 20,181,356
(737,401) (19,359,662)
(78,047) (197,767)
(143,672) (383,357)
- 125,573
- 100
132,679 1,252,618
1,497,209
1,000,000
- 2,497,209
(46,202)
(2,115,619)
634,029
(46,202) (1,481,590)
- 59,245
86,477 2,327,482
884,067 9,170,486
970,544 11,497,968
(84,638) (4,475,842)
211,060 2,992,498
- 125,573
- 100
(4,387) 544,847
- 200
- (11,212)
29,715 (284,535)
- 44,597
(9,093) 2,280,615
(9,978) (12,886)
- 48,663
217,317 5,728,460
132,679 1,252,618
- 7,972
- 93,281
113
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Changes in Assets and Liabilities
Fiduciary Funds
For the fiscal year ended December 31, 2010
Balance Balance
1/1/2010 Additions Deductions 12/31/2010
GENERAL AGENCY FUND
Assets:
Cash and short-term investments
Total Assets
Liabilities:
Accounts payable
Due to other governments
Total Liabilities
PAYROLL AGENCY FUND
Assets:
Cash and short-term investments
Accounts receivable
Total Assets
Liabilities:
Accounts payable
Total Liabilities
EMPLOYEE FLEXIBLE SPENDING
Assets:
Cash and short-term investments
Total Assets
Liabilities:
Accounts payable
Total Liabilities
TOTAL - ALL AGENCY FUNDS
Assets:
Cash and short-term investments
Accounts receivable
Total Assets
Liabilities:
Accounts payable
Due to other governments
Total Liabilities
$ 3,317,176 $ 294,645,420 $ 293,244,533 $ 4,718,063
$ 3,317,176 $ 294,645,420 $ 293,244,533 $ 4,718,063
$ - $ 97,365 $ 97,365 $ -
3,317,176 293,723,752 292,322,865 4,718,063
$ 3,317,176 $ 293,821,117 $ 292,420,230 $ 4,718,063
$ 51,130 $ 21,289,740 $ 21,287,695 $ 53,175
0 6,030 6,030
$ 51,130 $ 21,295,770 $ 21,293,725 $ 53,175
$ 51,130 $ 21,857,751 $ 21,855,706 53,175
$ 51,130 $ 21,857,751 $ 21,855,706 $ 53,175
$ 58,150 $ 740,846 $ 724,757 $ 74,239
$ 58,150 $ 740,846 $ 724,757 $ 74,239
$ 58,150 $ 74,239 $ 58,150 74,239
$ 58,150 $ 74,239 $ 58,150 $ 74,239
$ 3,426,456 $ 316,676,006 $ 315,256,985 $ 4,845,477
0 6,030 6,030 -
$ 3,426,456 $ 316,682,036 $ 315,263,015 $ 4,845,477
$ 109,280 $ 22,029,355 $ 22,011,221 $ 127,414
3,317,176 293,723,752 $ 292,322,865 4,718,063
$ 3,426,456 $ 315,753,107 $ 314,334,086 $ 4,845,477
114
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, 2010
Budgeted
Original Final Actual Variance
Operating Revenues:
Rescue unit fees
Total Operating Revenues
Operating Expenses:
Personnel services
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues:
State grants
Fees
Donations
Gain (loss) on disposition of assets
Total Nonoperating Revenues
Income(loss) before contributions and transfers
Transfers in
Net Income (Loss)
Net Assets at Beginning of Year
$ 5,791,647 $ 6,308,647 $ 5,317,036 $ (991,611)
5,791,647 6,308,647 5,317,036 (991,611)
4,393,072
282,600
730,800
342,000
33,175
4,393,072
366,600
800,800
342,000
33,955
5,781,647 5,936,427
10,000 372,220
4,251,709
302,606
878,636
339,353
17,274
141,363
63,994
(77,836)
2,647
16,681
5,789,578 146,849
(472,542) (844,762)
51,176 51,176
11,857 11,857
1,500 1,500
(55,000) 1,200 56,200
(55,000) 65,733 120,733
10,000 317,220
(406,809) (724,029)
1,500,000 1,500,000
10,000 1,817,220
1,093,191 (724,029)
3,092,086 3,092,086 3,092,086
Net Assets at end of Year $ 3,102,086 $ 4,909,306 $ 4,185,277 $ (724,029)
11.5
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, 2010
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
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
$ 4,900,000 $ 4,900,000 $ 4,581,530
2,800,000 2,800,000 2,786,866
7,700,000
2,432,000
2,838,500
2,800,000
58,600
8,129,100
(429,100)
444,100
444,100
15,000
15,000
7,700,000
2,432,000
2,838,500
2,800,000
58,600
8,129,100
(429,100)
444,100
444,100
15,000
15,000
7,368,396
2,046,437
2,984,261
2,781,438
58,530
7,870,666
(502,270)
100
306,886
107,566
414,552
Variance
$ (318,470)
(13,134)
(331,604)
385,563
(145, 761)
18,562
70
258,434
(73,170)
100
(137,214)
107,566
(29,548)
(87,718) (102,718)
7,972
(79,746)
15,751,802 15,751,802 15,751,802
7,972
(94, 746)
$ 15,766,802 $ 15,766,802 $ 15,672,056 $ (94,746)
116
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, 2010
Budgeted
Operating Revenues:
Contributions
Operating Expenses:
Personnel services
Supplies
Purchased services
Other
Claims
Total Operating Expenses
Operating Income (Loss)
Net Assets at Beginning of Year
Original Final
Actual
Variance
$ 12,148,672 $ 14,114,672 $ 11,930,003 $ (2,184,669)
181,000
1,460,434
10,507,238
12,148,672
6,000
641,000
1,460,434
12,007,238
14,114,672
212
12,826
353,720
491
13,416,403
13,783,652
(1,853,649)
3,447,074 3,447,074 3,447,074
(212)
(6,826)
287,280
1,459,943
(1,409,165)
331,020
(1,853,649)
Net Assets at End of Year $ 3,447,074 $ 3,447,074 $ 1,593,425 $ (1,853,649)
117
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, 2010
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Supplies
Purchased services
Insurance and bonds
Other
Claims
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
Taxes
Penalties & interest
Interest income
Judgments and damages
Total Nonoperating Revenues (Expenses)
Income (Loss) Before Operating Transfers
Transfers - in
Total transfers in (out)
Net Income (Loss)
Net Assets at Beginning of Year
Original Final
$ 250,000 $
3,500
41,700
700,000
500
1,084,300
1,830,000
(1,580,000)
1,500,000
40,000
40,000
1,580,000
879,752
Net Assets at End of Year $ 879,752
250,000
3,500
41,700
700,000
500
1,084,300
1,830,000
(1,580,000)
1,500,000
40,000
40,000
1,580,000
1,000,000
1,000,000
1,000,000
879,752
$ 1,879,752
Actual
Variance
$ 145,984 $ (104,016)
1,760
36,006
731,163
1,412, 340
2,181,269
1,740
5,694
(31,163)
500
(328,040)
(351,269)
(2,035,285) (455,285)
1,493,895
2,475
59,245
18,007
1,573,622
(6,105)
2,475
19,245
(21,993)
(6,378)
(461,663) (461,663)
1,000,000
1,000,000
538,337
879,752
(461, 663)
$ 1,418,089 $ (461,663)
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, 2010
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Personnel services
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating Income (Loss)
Net Income (Loss)
Net Assets at Beginning of Year
Net Assets at End of Year
Original Final
Actual
Variance
$ 1,257,000 $ 1,257,000 $ 1,146,796 $ (110,204)
158,837
14,500
824,764
142,769
52,090
158,837
14,500
824,764
142,769
52,090
1,192,960 1,192,960
64,040 64,040
64,040 64,040
1,589,905 1,589,905
146,632
35,536
793,346
211,060
44,860
1,231,434
12,205
(21,036)
31,418
(68,291)
7,230
(38,474)
(84,638) (148,678)
(84,638) (148,678)
1,589,905
$ 1,653,945 $ 1,653,945 $ 1,505,267 $ (148,678)
119
WELDtCOUNTY
STATISTICAL
SECTION
rii& (ts,i,
Willie
COLORADO
STATISTICAL SECTION
(unaudited)
This part of the Weld County Government's comprehensive financial report presents
detailed information as a context for understanding what the information in the financial
statements, note disclosures, and required supplementary information says about the
government's overall financial health.
Contents Page
Financial Trends
These schedules contain trend information to help the reader understand
how the government's financial performance and well-being have changed
over time.
Revenue Capacity
These schedules contain information to help the reader assess the
government's most significant local revenue source, the property tax.
Debt Capacity
Weld County is without bonded debt and, accordingly, the following
statistical tables are not presented: Ratios of Outstanding Debt by Type
and Ratios of General Bonded Debt Oustanding.
Demogranphic and Economic Information
These schedules offer demographic and economic indicators to help the
reader understand the environment within which the government's
financial activities take place.
Operating Information
These schedules contain service and infrastructure data to help the
reader understand how the information in the government's financial
report relates to the services the government provides and the acitivities
it performs.
122
128
135
139
142
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
121
COUNTY OF WELD
STATE OF COLORADO
Net Assets by Component
Last Nine Years
(accrual basis of accounting)
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
Fiscal Year
2002 2003
2004
2005
$ 253,141,316 $ 247,764,877 $ 238,640,911 $ 231,271,356
3,307,949
3,025,505
1,663,948
27,713,273
$ 288,851,991
3,169,309
3,025,505
1,748,948
26,511,213
4,199,374
3,500,000
1,748,949
30,759,296
L.282,219.=8 $ 278,848,530
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
$ 291,874,507.
$ 941,049 $ 834,285 $ 864,425 $ 809,643 $ 852,705
(86,086) (266,736) (4,761) 1,508,322 2,118,077
$ 854.953,, $ 567.5.49 $ 859 664 $ 2.317.965 $ 2.97_0.782
$ 254,082,365 $ 248,599,162
7,997,402 7,943,762
27,627,187 26,244,477
$ 239,505,336 $ 232,080,999 $ 234,478,985
9,448,323
30,754,535
10,444,640
41,290,415
9,702,401
50,663,903
$ 28 06.954 $ 282 787401 279,708 194 $ 283.816.054 $_294,_645,2$9.
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only nine years of
government -wide financial data is presented.
2007
2008
2009
2010
$ 249,237,323 $ 253,009,697 $ 256,826,307 $ 254,893,784
3,988,022
5,000,000
1,748,951
40,122,962
$ 300,097,258
4,033,041
5,000,000
1,270,613
37,397,773
4,524,110
6,000,000
2,270,613
40,819,002
$ 300,711,124 $ 310,440,032
4,912,503
6,000,000
4,734,410
66,081,025
$ 336,621,722
$ 987,445 $ 1,076,125 $ 1,011,224 $ 1,305,614
2,191,453 2,776,179 2,478,408 3,194,266
$ 3.178.891 $ 3.852304 $ 3.482632 $ 4.491 $$Q
$ 250,224,768
10,736,973 10,303,654
42,314,415 40,173,952
$03.276.156
$ 254,085,822 $ 257,837,531
12,794,723
43,297,410
$ 304.563.428 $ 313 929 664
$ 256,199,398
15,646,913
69,275,291
$ 341.121.602
123
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Assets
Last Nine 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
General Revenues and Other Changes in Net Assets
Governmental activities:
Taxes:
Property taxes
Specific Ownership
Other
Royalties
Miscellaneous
Unrestricted investment eamings
Donated capital assets
Gain on sale of capital assets
Transfers
Total governmental activities
Business -type activities:
Paramedic service
Total primary government
Change in Net Assets
Governmental activities
Business -type activities
Total primary government
2002 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
2004
2005
2006
$ 21,174,906 $ 23,047,725 $ 26,641,373
28,425,957 30,449,441 32,562,998
32,688,807 36,919,372 37,068,628
23,538,421 24,843,147 26,179,807
1,005,697 771,295 1,549,379
12,646,785 13, 736,745 11,747,943
358,054 340,411 322,293
118, 768,699 119, 838,627 130,108,136 136, 072,421
6,743,936 8,800,646 9,738,148 6,371,413 7.156,700
119.329.037 $ 127.569.345 L122,5_7_027_5 $ 136.479.549 $ 143.229.121,
$ 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
$ 8,086,983 $ 9,792,423 $ 12,265,623
7,609,527 5,430,422 6,378,749
1,157,634 3,433,713 4,023,310
12, 699,858 13, 664,206 14,949,936
309,948 333,293 345,990
862,223 1,156,012 1,186,129
27,124,685 27,885,047 30,045,943
57, 850,858
10, 035,874
61,695,116 69,195,680
7,829,714 7,809,516
63,588,295 67,886,732 69,524,830 77,005,196
(56,232,738) (63,698,693) (61,987,769) (68,413,020) (66,876,741)
71,747 (282,357) 297,726 1,458,301 652,816
$ (56.160.991) L(6981.9.5_O.) $ (61.690.043) (66.954.7191 $ (66.223.925)
$ 45,233,546 $ 47,532,602 $ 50,785,919 $ 56,382,533 $ 62,124,792
5,467,148 5,540,872 6,795,897 6,627,991 6,614,819
2,376,581 2,492,418 3,333,336 3,733,025 5,266,786
2,052,594
0
10,030
55,139,899
1,563,120
0
(94,544)
57.034,468
1,644,979 2,679,442 4,539,172
0 355,784 7,602
(2,358,185)
(1,300,000)
60,201,946 69,778,775 77,253,171
(5,057) (5,611) -
$_15_,121M9 $ 57.029.411 $ 60.196.335 $ 69.778.775 $
$ (1,092,839) $ (6,664,225) $ (1,785,823) $ 1,365,755 $ 10,376,430
71,747 (287,414) 292,115 1,458,301 652,816
$ (1.021.092) $ (6.951.639) $ (1.493.708) $ 2.824.056 $ 11.029.246
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only nine years of
government -wide data is presented.
124
2007
$ 35,301,327
36,717,165
34,637, 731
31,026, 419
1,008, 703
14,403, 662
335,771
153,430, 778
2008
$ 31,019,065
40,496,490
40,795, 016
35,117,225
1,077, 743
14,601, 330
2009 2010
$ 31,738,352
40,649, 718
31,123, 536
39,882, 326
1,013, 683
15,546,027
$ 31,497,117
40,551, 255
34,662, 990
37,946, 589
1,215,481
9,262,302
163,106, 869 159,953,642 155,135, 734
8,444,840 9,289, 761 9,310, 991 6,349, 218
$ 161.875.618 $ 172.396.630 $ 169.264.633 $ 161.484.952
$ 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
$ 11,681,170
5,814, 979
3,518, 926
19,870, 091
468,488
756,698
33,134, 702
25,454
75,270, 508
9,113,166
84,383, 674
$ 8,728,521
5,658, 339
3,262, 996
21,091,150
448,990
1,041,768
36,580, 590
$ 10,117,110
7,021,139
1,932, 790
21,311,474
549,483
834,429
27,858, 758
76,812,354 69,625,183
7,563,318 5,859,468
84,375,672 75,484,651
(74,786,879) (87,836,361) (83,141,288) (85,510,551)
208,115 (176,595) (1,747,673) (489,750)
$ X74.578.764) $_L88.O12.9.5_6) 1_0_44.8.0.961) $ 186.000.301)
$ 67,215,993
7,056, 071
3,546,134
5,191, 430
83,009, 628
$ 72,735,158
7,035,189
5,454, 324
4,075, 554
$ 75,047,892
6,167, 691
3,472, 065
1,707, 235
5,468, 676
2,391, 636
$ 95,251,609
6,018,849
845,578
2,556, 866
6,415,403
2,103,942
(850,000) (1,385,000) (1,500,000)
88,450,225 92,870,195 111,692,247
850,000 1,385, 000 1,500, 000
$ $.3.009.628 $ $9..300.225 $94.255.195 $ 113.192.247
$ 8,222,749 $ 613,864 $ 9,728,907 $ 26,181,696
208,115 673,405 (362,673) 1,010,250
$ 8.430,864 $ 1.287.269 $ 9.366.234 $ 27.191.946
125
COUNTY OF WELD
STATE OF COLORADO
Fund Balances of Governmental Funds
Last Nine Years
(modified accrual basis of accounting)
Fiscal Year
General Fund
Reserved
Unreserved
Total general fund
2002
2003 2004 2005 2006
$ 3,249,297 $ 1,342,369 $ 1,516,298 $ 1,486,188 $ 946,073
2,921,157 3,727,307 6,699,941 7,648,920 10, 630, 592
$ 6.170.454 $ 5.069.676 $ 8,216,239 $ 9,135,108 $ 11,576,665
All other Governmental Funds
Reserved $ 6,984,908 $ 2,666,118 $ 4,139,435 $ 8,834,511 $ 19,019,004
Unreserved, reported in:
Special revenue funds 19,512,384 22,023,076 25,360,820 26,155,751 25,281,236
Capital projects funds 294,482 2,830,614 697,779 3,511,495 0
Debt service funds - - - - -
Total for all governmental funds $ 32.962.228 $ 32,589,484 $ 38,414 273 $ 47,636,865 $ 55,876,905
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only nine years of
fund data is presented.
2007 2008 2009 2010
$ 1,081,217 $ 1,161,271 $ 846,808 $ 1,882,253
7,007,528 10,645,617 9,960,565 9,967,335
$ 8,088,745 $ 11,806,888 $ 10 807,373 $ 11 849,588
$ 12,074,704 $ 12,631,501 $ 9,861,718 $ 7,138,513
27,791,990 25,032,274 32,475,341 57,755,218
272,790 (2,064,635) 1,617,052 6,362,877
$ 48,228,229 $ 47,406,028 $ 54,761484 $ 83,106,196
127
COUNTY OF WELD
STATE OF COLORADO
Changes in Fund Balances, Governmental Funds
Last Nine 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 2003
$ 50,771,861
2,205,420
40,511,590
159,246
5,746,678
5,536,066
6,638,831
$ 53,080,974
1,760,546
38,299,161
75,488
6,887,469
4,739,386
7,387,204
111,569,692 112,230,228
19,100,208
23,435,572
23,465,325
21,327,335
1,046,374
10,892,932
9,590,948
406,155
21,910,296
27,212,371
21,407,821
20,896,282
764,449
11,365,585
8,668,934
377,233
109,264,849 11Z602,971
2,304,843 (372,743)
5,144,682
5,144,682
2,482,745
2,482,745
2004
$ 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
$ 69,178,181
3,188,354
44,982,577
135,908
8,232,213
13,377,598
8,602,079
120,385,944 131,072,482 147,696,910
20,566,315
27,475,345
22,734,695
23,046,109
1,007,208
12,450,198
6,923,230
358,054
22,384,671
29,834,629
25,490,667
24,284,817
775,903
13,572,861
5,165,931
340,411
25,366,204
31,881,427
26,315,156
25,993,962
1,550,929
11,746,242
14,980,649
322,293
114,561,154 121,849,890 138,156,862
5,824,790
4,299,153
4,299,153
9,222,592 9,540,048
7,436,144
7,436,144
11,309,847
12,609,847
(1,300,000)
$ Lamias $ (372.7431 $ 5.824.790 $ a222.592 $ 8140-044
0.41% 0.36%
0.33%
Note: The County implemented GASB Statement No. 34 in fiscal year 2002, therefore, only nine years of fund data is
presented.
0.29%
0.26%
128
2007
$ 74,627,631
2,129,731
53,886,023
416,668
7,800,131
9,567,707
8,061,587
156,489,478
32,605,930
35,945,956
31,798,757
30,940,641
1,011,311
14,449,197
17,050,592
335,771
16411381155
(7,648,677)
4,340,010
4,340,010
$__17124.1f22.7)
0.23%
2008
$ 80,182,212
2,089,925
52,887,281
295,246
8,898,865
12,523,751
7,845,617
164,722,897
29,061,657
38,564,419
36,643,514
34,585,229
1,077,592
14,459,482
9,883,207
164,275,100
447,797
4,914,085
6,184,085
2009
$ 84,642,477
1,467,282
61,100,082
323,411
8,939,683
7,132,908
7,546,475
171,152,318
28,311,209
38,668,759
29,595,637
39,287,986
1,014,422
14,622,541
9,911,307
161,411,861
9,740,457
7,583,632
9,968,632
(1,270,000) (2,385,000)
$__11122.2.43)
0.00%
2010
$ 102,079,791
2,512,999
53,021,343
587,330
7,771,230
8,133,573
8,827,457
182,933,723
29,608,752
38,176,653
28,524,940
36,850,368
1,214,300
9,086,301
8,627,695
152,089,909
30,844,714
7,157,161
9,657,161
(2,500,000)
$ 7.355.457 $ 28.344.714
0.00%
0.00%
129
COUNTY OF WELD
STATE OF COLORADO
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Years
Levy Vacant
Year Land
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
69,764,692
84,924,310
118,539,590
105,868,950
115,005,330
110,566,010
132,402,840
125,609,000
114,462,060
107,499,350
Residential
Property
664,709,268
736,752,250
790,760,590
851,446,760
972,251,070
1,051,061,180
1,218,082,640
1,258,374,790
1,147,417,980
1,161,670,030
Commercial Industrial
Property Property Agricultural
346,693,150
376,484,940
425,380,570
448,526,350
507,867,420
538,352,810
631,036,750
654,957,800
703,405,460
713,727,230
Source: Office of the Weld County Assessor
156,169,130
159,190,800
151,942,640
153,747,260
155,227,960
194,235,560
214,051,130
216,214,910
281,991,090
338,066,670
153,977,970
159,479,010
153,478,310
158,581,990
172,592,990
175,708,230
96,371,890
97,874,960
100,747,790
100,999,290
Natural
Resources
6,684,200
7,292,220
8,673,760
10,115,440
9,310,740
10,876,640
14,538,010
14,996,920
15,959,790
12,388,270
Oil & Gas
623,293,310
649,951,220
554,434,380
969,984,640
1,279,782,160
1,736,735,240
1,749,119,710
1,709,997,160
2,868,304,890
1,673,838,130
State
Assessed
200,793,550
253,719,200
284,213,800
295,147,000
403,287,500
386,413,500
412,859,500
487,797,900
538,504,800
593,020,000
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 throughout the ten-year time frame.
Total Taxable
Assessed Value
2,222,085,270
2,427,793,950
2,487,423,640
2,993,418,390
3,615,325,170
4,203,949,170
4,468,462,470
4,565,823,440
5,770,793,860
4,701,208,970
Estimated
Actual
Taxable Value
12,209,437,161
12,964,532,977
15,225,468,379
16,596,579,600
19,255,338,644
21,011,080,893
22,698,462,039
23,564,608,165
24,007,360,964
23,154,987,218
Assessed
Value as a
Total Direct Percentage of
Tax Rate Actual Value
22.038
20.559
20.056
21.474
19.957
17.900
16.804
16.804
16.804
16.804
18.200%
18.726%
16.337%
18.036%
18.776%
20.008%
19.686%
19.376%
24.038%
20.303%
131
COUNTY OF WELD
STATE OF COLORADO
Property Tax Rates Direct and Overlapping Governments
Last Ten Years
General
Levy Year Government
Road & Bridge Public Welfare Contingent Capital Insurance
Tota Direct
County
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
15.947
13.164
14.044
15.791
13.909
12.321
11.487
11.736
11.842
11.389
1.264
2.259
2.133
2.010
2.002
1.847
1.668
1.647
1.613
1.498
1.885
1.280
1.512
2.013
1.772
1.551
1.333
1.293
1.266
1.965
1.194
0.701
0.523
0.535
0.360
0.619
0.448
0.215
1.435
3.608
1.439
0.916
1.488
1.544
1.399
1.344
1.754
1.415
0.313
0.248
0.227
0.221
0.251
0.277
0.298
0.336
0.329
0.322
22.038
20.559
20.056
21.474
19.957
17.900
16.804
16.804
16.804
16.804
Overlapping Rates
Levy Direct City of School Aims
Year County Greeley District 6 College
2001 22.038 11.274 46.974 6.351
2002 20.559 11.274 50.320 6.620
2003 20.056 11.274 47.981 6.316
2004 21.474 11.274 46.453 6.322
2005 19.957 11.274 44.711 6.328
2006 17.900 11.274 41.129 6.357
2007 16.804 11.274 40.760 6.330
2008 16.804 11.274 36.922 6.308
2009 16.804 11.274 36.600 6.323
2010 16.804 11.274 36.633 6.312
The basis for the property tax rates is per $1,000 assessed valuation.
Source: Office of the Weld County Assessor.
Weld
Library
3.249
3.249
3.249
3.249
3.249
3.281
3.261
3.253
3.260
3.255
132
COUNTY OF WELD
STATE OF COLORADO
Principal Property Taxpayers
Current Year and Nine Years Ago
Noble Energy Inc
Kerr-McGee Oil & Gas Onshore LP
Petroleum Development Corp
Encana Oil & Gas (USA) Inc
Public Service Company of Colorado (XCEL)
Rocky Mountain Energy Center
DCP Midstream LP
Kerr McGee Gathering LLC
Colorado Interstate Gas Co
Vestas Blades America Inc
Kerr-McGee Rocky Mountain Corp
Patina Oil & Gas Corporation
Pancanadian Energy Resources Inc
Eastman Kodak Company
Prima Oil & Gas Company
Southwestern Productions Corp
Qwest Corp KFA US West
Thermo Cogeneration Partnership
Duke Energy Field Services Inc
Source:
Weld County Assessor
2010
Taxable
Assessed
Value Rank
$ 748,733,020 1
479,821,620 2
134,327,390 3
127,499,520 4
117,990,100 5
66,745,500 6
56,909,550 7
55,180, 600 8
50,350,200 9
44,422,660 10
$ 1,881, 980,160
Percent
Of Total County
Taxable
Assessed
Value
15.93%
10.21%
2.86%
2.71%
2.51%
1.42%
1.21%
1.17%
1.07%
0.94%
40.03%
2001
Taxable
Assessed
Value Rank
$ 80,430,700 3
261, 979,140
157,553,630
50,191,540
48,823,360
34,402,910
29,142,750
22,286,490
20,212,500
16,960,860
$ 721,983,880
1
2
4
5
6
7
8
9
10
Percent
Of Total County
Taxable
Assessed
Value
3.62%
11.79%
7.09%
2.26%
2.20%
1.55%
1.31%
1.00%
0.91%
0.76%
32.49%
COUNTY OF WELD
STATE OF COLORADO
Property Tax Levies and Collections
Last Ten Years
Levy Collect
Year Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Taxes Levied
for the
Fiscal Year (1)
38,846,297
45,683,851
48,691,835
53,414,937
59,739,651
64,714,321
70,643,162
75,088,043
76,724,097
96,972,420
Collected within the
Ficsal Year of the Levy
Tax Percent
Amount (2) of Levy
38,275,747
45,566,346
48,410,396
53,094,454
59,395,927
64,580,198
70,575,408
74,877,199
75,903,359
96,736,465
98.531%
99.743%
99.422%
99.400%
99.425%
99.793%
99.904%
99.719%
98.930%
99.757%
Collections Total Collections to Date
in Subsequent Tax Percent
Years (3) Amount (3) of Levy
53,693
53,243
100,073
(230,263)
210,798
57,457
326,657
166,958
110,140
38,329,440
45, 619, 589
48,510,469
52,864,191
59,606,725
64,637,655
70,643,162
75,044,157
76,013,499
96,736,465
Source:
1) Office of the Weld County Assessor
2) YTD Treasurer's Tax Distribution
3) YTD Treasurer's Tax Distribution 2001 forward. Negative values reflect subsequent rebates and adjustments.
98.669%
99.859%
99.628%
98.969%
99.777%
99.882%
100.000%
99.942%
99.074%
99.757%
134
COUNTY OF WELD
STATE OF COLORADO
Direct and Overlapping Governmental Activities Debt
December 31, 2010
Jurisdiction
Cities & Towns
Schools
Special Districts
Total Overlapping
Net General
Obligation
Bonded Debt
Outstanding
$ 74,623,673
954,467,193
156,104,561
1,18_5195,427
Percentage
Applicable to
Government (1)
86.99%
42.62%
64.17%
Source: Debt outstanding provided by each governmental unit.
Amount
Applicable to
Government
$ 64,913,461
406,762,589
100,172,966
$ 571,8A_9,016
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.
135
COUNTY OF WELD
STATE OF COLORADO
Legal Debt Margin Information
Last Ten Years
Legal Debt Margin Calculation for Fiscal Year 2010
Assessed Value, 2010
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
$ 4,701,208,970
141,036,269
0
$ 141,036,269
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
2001 2002 2003 2004 2005
$66,662,558 $72,833,818 $74,622,712 $89,802,552 $108,459,755
$66,662,558 $72,833,818 $74,622,712 $89,802,552 $108,459,755
0.00% 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.
136
2006 2007 2008
2009
2010
$126,118,475 $134,053,874 $136,974,703 $173,123,816 $141,036,269
$126,118,475
0.00%
$134,053,874 $136,974,703
0.00%
0.00%
$173,123,816
0.00%
$141,036,269
0.00%
COUNTY OF WELD
STATE OF COLORADO
Private Purpose Revenue Bonds
December 31, 2010
INDUSTRIAL REVENUE BONDS:
ISSUER
Waste Service Corporation
Waste Service Corporation
Centennial Area
Health Education Central
GSSLB Association
Nursing Home
Greeley Center for
Independence, Inc
BSC Hudson
TYPE OF
FACILITY
Landfill
Landfill
Office
Nursing Home
ISSUE
AMOUNT DATE
$860,000 2/91
2,500,000 2/91
388,000 5/99
2,020,000 10/98
Therapeutic 1,650,000 9/03
Center
Manufacturing 5,715,000 10/05
North Range Behavioral Health Office
4,500,000 5/07
TOTAL PRIVATE PURPOSE REVENUE BONDS
DEBT
OUTSTANDING
BEGINNING OF YEAR
$90,000
485,000
247,977
1,145,000
1,272,045
5,715,000
3,246,470
$12.201.492
ISSUED RETIRED
$0 $90,000
0 485,000
0 19,239
0 55,000
0 70,448
0 5,715,000
0 114,510
$6.549.197
REVENUE BOND
OUSTANDING
END OF YEAR
$0
$0
$228,738
$1,090,000
$1,201,597
$0
$3,131,960
$5.652.295
138
COUNTY OF WELD
STATE OF COLORADO
Demographic and Economic Statistics
Last Ten Years
Year
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Population
193,929
202,329
207,120
217,652
221,957
229,377
236,908
244,515
251,220
252,825
Total
Personal Income Per
($ billion) Capita Income
4.36
5.02
5.14
5.38
5.79
5.84
6.23
6.66
7.38
7.07
22,469
24,571
24,279
25,274
25,968
25,495
26,280
27,238
27,788
25,803
Unemployment
Rate
4.00%
6.10%
6.70%
5.40%
5.00%
3.80%
4.63%
6.30%
8.16%
9.80%
Source: Upstate Colorado in cooperation with University of Northern Colorado
and the State of Colorado demographer.
1139
COUNTY OF WELD
STATE OF COLORADO
Principal Employers
Current Year and Nine Years Ago
JBS Swift Beef Company
Banner Health (NCMC)
School District 6
State of Colorado (includes UNC )
Weld County Government
State Farm Insurance Companies
Vestas
Aims Community College
City of Greeley
Carestream Health Inc
Eastman Kodak Company
StarTek, Inc
Total Principal Employers
Other Employers
Total County Employment
Source: Upstate Colorado
2010
Percent
Of Total County
Employees Rank Employment
4500 1 3.81%
2141 2 1.81%
1877 3 1.59%
1600 4 1.35%
1372 5 1.16%
1300 6 1.10%
1060 7 0.90%
874 8 0.74%
847 9 0.72%
540 10 0.46%
16,111
102,087
118,198
13.63%
86.37%
100.00%
2001
Percent
Of Total County
Employees Rank Employment
3550
1807
1934
2062
1200
1500
1
4
3
2
9
6
1488 7
1016 10
1800 5
1204 8
17,561
67,653
85,214
4.17%
2.12%
2.27%
2.42%
1.41%
1.76%
1.75%
1.19%
2.11%
1.41%
20.61%
79.39%
100.00%
WELDtCOUNTY
COUNTY OF WELD
STATE OF COLORADO
Full -Time Equivalent County Government Employees by Function/Program
Last Ten Years
2001 2002 2003 2004 2005
Function/Program
General government
Public safety (1)
Public works
Health and welfare(2)
Culture and recreation
Economic assistance (3)
Total General Government
Business -type activities:
Paramedic service
Total primary government
247 252 241 241 247
247 260 267 267 275
140 140 155 155 139
248 253 258 258 286
21221
150 164 162 161 181
1,034 1,070 1,085 1,084 1,129
61 57 57 57 62
1,095 1,127 1,142 1,141 1,191
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.
Phase III construction in 2006-07added 374 beds and increased staffing of 42 in
2007. Twelve additional management and support positions were added in 2008.
The deferredopening of 122 secure confinement beds contained prevented further
hiring
(2) The demand for welfare and public health care has increased more rapidly with the
economic downturn.
(3) As of 12/31/2009 Headstart responsibilites were relinquished back to the Federal
Agency for opearational purposes.
2006 2007 2008 2009 2010
256 258 269 247 244
279 308 352 365 345
167 167 165 163 161
305 337 357 372 378
11112
166 173 148 144 78
1,174 1,244 1,292 1,292 1,208
63 67 74 72 69
1,237 1,311 1,366 1,364 1,277
143
COUNTY OF WELD
STATE OF COLORADO
Operating Indicators by Function/Program
Last Ten Years
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)
2001 2002 2003 2004 2005
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%
1,520 1,435 2,738 1,387 1,543
220 337 491 218 206
298 330 371 402 455
52,000 84,420 72,396 75,276 79,425
2,180 2,082 1,941 2,012 2,082
$148,426 $125,336 $201,442 $132,178 $104,225
Public works:
Miles of road graveled 440 440 440 401 401
Snow removal lane miles 1390 1390 1,406 33,710 78,435
Grading lane miles 131,171 131,171 126,000 175,910 165,681
Miles of Upgrade -Aggregate Surfaced Roads 5 5 8 10 0
Culverts (new and repaired) 15" and larger 240 240 240 217 217
Tons of asphalt laid 80,055 80,055 101,243 95,634 95,634
Tons of gravel crushed 500,000 500,000 510,000 487,477 487,477
Health and welfare:
Social Services Caseload
Patient contacts
Immunizations
Culture and recreation:
Visitors -Missile Park
County Fair Exhibitors
Economic assistance: (3)
Headstart clients
Migrant Headstart clients
Business -type activities:
Paramedic Services
Patients transported
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
700 695 558 575 575
5,000
2,370 2,410
2,410 2,220
537 577 641 622 562
99 200 146 175 266
6,687
7,027 7,060
7,331 7,284
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.
(3) As of 12/31/2009 Headstart responsibilites were relinquished back to the Federal Agency for opearational purposes.
144
2006 2007 2008 2009 2010
466,777
100,924
68,871
68.2%
484,412
88,601
30,203
34.1%
493,544
116,269
106,518
91.6%
478,202
112,276
34,027
30.3%
482,841
145,692
80,893
55.5%
1,574 1,606 1,122 1,059 1,084
215 224 110 98 96
579 628 610 538 570
92,045 95,524 99,951 95,383 95,866
1,972 2,000 2,571 1,976 2,143
$399,473 $100,609 $120,118 $86,794 392,380
160 359 312 205 416
125,225 222,703 94,685 176,786 77,889
164,906 135,779 148,324 152,568 154,602
10 34 52 33 36
242 250 252 233 264
70,421 67,389 67,548 90,664 101,431
408,409 411,582 231,359 282,315 372,709
14,500
30,440
6,360
15,000
11,880
7,165
15,500
11,500
7,000
16,000
15,000
7,000
20,500
11,769
8,159
586 595 600 600 500
2,422
2,326 2,335
2,425 2,383
562 562 562 562 0
266 266 275 180 0
8,375
8,210 8,866
9,214 9,214
145
COUNTY OF WELD
STATE OF COLORADO
Capital Asset Statistics by Function/Program
Last Ten Years
2001 2002 2003 2004 2005
Function/Program
General government:
Building Square Footage
Court rooms
Information Systems Connections
Public safety:
Jail capacity (beds)
Patrol cars
Radios and cell phones
Public works:
Miles of Roads
Paved
Unpaved
Un-maintained
Grader sheds
Motor graders
Health and welfare:
Alternative fuel vehicles
Economic assistance:
Headstart sites
Business -type activities:
Paramedic Services
Ambulances
585,045 604,100 620,310 684,551 684,551
9 9 9 10 12
959 997 1,240 1,292
454 454 454 386 386
36 44 43 42 46
828 857 947 939 1,140
665 670 679 671 681
2,484 2,457 2,438 2,425 2,394
254 253 250 252 512
18 18 18 18 18
27 30 29 30 30
4 4 5 6 4
12 12 11 11 11
11 10 10 10 10
Source: Weld County Department records and Fixed Asset Inventory
2006 2007 2008 2009 2010
719,723 725,723 854,081 860,399 984,052
16 16 17 22 22
1,292 1,292 1,320 1,320 1,320
386 386 760 760 760
55 55 55 62 60
1,229 1,270 1,359 1,179 1,220
675 670 684 674 689
2,387 2,370 2,352 2,331 2,307
327 492 490 493 351
18 18 18 18 18
30 30 30 30 30
44455
11 11 11 0 0
10 11 11 11 12
147
COUNTY OF WELD
STATE OF COLORADO
Insurance in Force
December 31, 2010
Name of Company
Safety National
Casualty Company
Policy
Number
Policy Period
Begins Expires
SP4041255 12/31/09 12/31/11
Insurance Company of the 6907962
State of Pennsylvania
Lexington Insurance Co
01/01/10 01/01/11
020412751 1/1/2009 1/1/2010
Details of Coverage
Excess Worker's
Compensation
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
$600,000 each claim.
Property: $100,000,000/
occupancy/$500 deductible.
All Liability: $250,000/person;
$600,000/claim.
Excess Liability: (Federal and
Out -of -State Only)
$6,000,000/liability. Excess
$250,000: $600,000/Claim.
County retaining first $125,000
each claim.
Excess $250,000
Crime: $150,000/Loss
$500 Deductible
Property Claim
County retaining first
$125,000 each claim
Annual
Premium
$95,493
$275,488
148
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PASSED THROUGH GOVERNOR'S COMMISSION ON COMMUNITY SERVICE
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153
WELD COUNTY, COLORADO
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
December 31, 2010
NOTE 1: BASIS OF PRESENTATION
The accompanying schedule of expenditures of Federal awards, which includes the Federal
grant activity of Weld County, Colorado, is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of the
U.S. Office of Management and Budget Circular A-133, Audits of States, Local
Governments, and Non -Profit Organizations. Therefore, some amounts presented in this
schedule may differ from amounts presented in, or used in, the preparation of Weld County,
Colorado's financial statements for the year ended December 31, 2010.
NOTE 2: COMMODITY SUPPLEMENTAL FOOD PROGRAM
Non -monetary assistance is reported in the schedule at the fair market value of the
commodities distributed during the year. At December 31, 2010, Weld County, Colorado
had food commodities totaling $444,010 in inventory, with a corresponding amount reported
as deferred revenue to be realized when distributed.
NOTE 3: SUB -RECIPIENT
Weld County, Colorado does not have any significant sub -recipients.
154
AlFjp McGee, Hearne & Paiz, LLP
Certified Public Accountants and Consultants
314 West 18th Street, Cheyenne, Wyoming 82001-4404
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND
OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
Board of County Commissioners
Weld County, Colorado
Greeley, Colorado
We have audited the financial statements of the governmental activities, the business -type activities, each
major fund, and the aggregate discretely presented component unit and remaining fund information of
Weld County, Colorado (the "County") as of and for the year ended December 31, 2010, which
collectively comprise the County's basic financial statements, and have issued our report thereon dated
June 15, 2011. Our report includes a reference to other auditors. We conducted our audit in accordance
with auditing standards generally accepted in the United States of America and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the
United States. Other auditors audited the financial statements of the Weld County Housing Authority, as
described in our report on the County's financial statements. This report does not include the results of
the other auditors' testing of internal control over financial reporting or compliance and other matters that
are reported on separately by those auditors.
Internal Control over Financial Reporting
In planning and performing our audit, we considered the County's internal control over financial
reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the
financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County's
internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness
of the County's internal control over financial reporting.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination
of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement
of the County's financial statements will not be prevented, or detected and corrected on a timely basis.
Our consideration of internal control over financial reporting was for the limited purpose described in the
first paragraph of this section and was not designed to identify all deficiencies in the internal control over
financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not
identify any deficiencies in internal control over financial reporting that we consider to be material
weaknesses, as defined above. However, we identified a certain deficiency in internal control over
financial reporting, described in the accompanying schedule of findings and questioned costs as item
2010-01, that we consider to be a significant deficiency in internal control over financial reporting. A
significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less
severe than a material weakness, yet important enough to merit attention by those charged with
governance.
155
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County's financial statements are free of
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The
results of our tests disclosed no instances of noncompliance or other matter that are required to be
reported under Government Auditing Standards.
We noted certain matters that we reported to the management of the County in a separate letter dated June
15, 2011.
The County's response to the finding identified in our audit is described in the accompanying schedule of
findings and questioned costs. We did not audit the County's response and, accordingly, we express no
opinion on it.
This report is intended solely for the information and use of management, the Board of County
Commissioners, others within the County, Federal awarding agencies, and pass -through entities, and is
not intended to be and should not be used by anyone other than those specified parties.
1, )4IP
Cheyenne, Wyoming
June 15, 2011
156
MEpMcGee, Hearne & Paiz, LLP
Certified Public Accountants and Consultants
314 West 18th Street, Cheyenne, Wyoming 82001-4404
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH
REQUIREMENTS THAT COULD HAVE A DIRECT AND
MATERIAL EFFECT ON EACH MAJOR PROGRAM AND
INTERNAL CONTROL OVER COMPLIANCE IN
ACCORDANCE WITH OMB CIRCULAR A-133
Board of County Commissioners
Weld County, Colorado
Greeley, Colorado
Compliance
We have audited the compliance of Weld County, Colorado (the "County") with the types of compliance
requirements described in the U.S. Office of Management and Budget (OMB) Circular A-133,
Compliance Supplement that could have a direct and material effect on each of its major Federal programs
for the year ended December 31, 2010. The County's major Federal programs are identified in the
summary of auditor's results section of the accompanying schedule of findings and questioned costs.
Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its
major Federal programs is the responsibility of the County's management. Our responsibility is to
express an opinion on the County's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America; the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of
States, Local Governments, and Non -Profit Organizations. Those standards and OMB Circular A-133
require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance
with the types of compliance requirements referred to above that could have a direct and material effect
on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the
County's compliance with those requirements and performing such other procedures as we considered
necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.
Our audit does not provide a legal determination on the County's compliance with those requirements.
In our opinion, the County complied, in all material respects, with the compliance requirements referred
to above that could have a direct and material effect on each of its major Federal programs for the year
ended December 31, 2010. However, the results of our auditing procedures disclosed an instance of
noncompliance with those requirements, which is required to be reported in accordance with OMB
Circular A-133 and which is described in the accompanying schedule of findings and questioned costs as
item 2010-03.
157
Internal Control over Compliance
The management of the County is responsible for establishing and maintaining effective internal control
over compliance with requirements of laws, regulations, contracts and grants applicable to Federal
programs. In planning and performing our audit, we considered the County's internal control over
compliance with requirements that could have a direct and material effect on a major Federal program in
order to determine our auditing procedures for the purpose of expressing our opinion on compliance and
to test and report on internal control over compliance in accordance with OMB Circular A-133, but not
for the purpose of expressing an opinion on the effectiveness of internal control over compliance.
Accordingly, we do not express an opinion on the effectiveness of the County's internal control over
compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct noncompliance with a type of compliance requirement of a
Federal program on a timely basis. A material weakness in internal control over compliance is a
deficiency, or combination of deficiencies, in internal control over compliance, such that there is a
reasonable possibility that material noncompliance with a type of compliance requirement of a Federal
program will not be prevented, or detected and corrected on a timely basis.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that might be deficiencies, significant deficiencies or material weaknesses and, therefore,
there can be no assurance that all deficiencies, significant deficiencies, or material weaknesses have been
identified. However, we identified a certain deficiency in internal control over compliance that we
consider to be a significant deficiency as described in the accompanying schedule of findings and
questioned costs as item 2010-02. A significant deficiency in internal control over compliance is a
deficiency, or combination of deficiencies, in internal control over compliance with a type of compliance
requirement of a Federal program that is less severe than a material weakness in internal control over
compliance, yet important enough to merit attention by those charged with governance.
The County's responses to the findings identified in our audit are described in the accompanying schedule
of fmdings and questioned costs. We did not audit the County's responses and, accordingly, we express
no opinion on them.
This report is intended solely for the information and use of management, the Board of County
Commissioners, others within the County, Federal awarding agencies, and pass -through entities, and is
not intended to be and should not be used by anyone other than those specified parties.
17?c,&) I /927)ow
Cheyenne, Wyoming
June 15, 2011
158
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
Year Ended December 31, 2010
I. SUMMARY OF INDEPENDENT AUDITOR'S RESULTS
A. Financial Statements
Type of auditor's report issued: Unqualified
Internal control over financial reporting:
4 Material weaknesses identified? Yes X No
4 Significant deficiencies identified that are
not considered to be material weaknesses? X Yes None reported
Noncompliance material to financial
statements noted?
B. Federal Awards
Internal control over major programs:
Yes X No
4 Material weaknesses identified? Yes X No
4 Significant deficiencies identified that are
not considered to be material weaknesses? X Yes
None reported
Type of auditor's report issued on compliance for major programs: Unqualified
4 Any audit findings disclosed that are
required to be reported in accordance
with Section 510(a) of Circular A-133? X Yes No
Identification of major programs:
CFDA Numbers
10.561
Cluster
Cluster
93.086
Cluster
93.568
93.645
93.658
93.659
93.667
Name of Federal Program or Cluster
State Administrative Matching Grants for the Supplemental
Nutrition Assistance Program*
Workforce Investment Act Cluster*
Employment Services Cluster*
Healthy Marriage Promotion and Responsible Fatherhood Grants
Child Care and Development Fund (CCDF) Cluster*
Low Income Home Energy Assistance Program
Child Welfare Services - State Grants
Foster Care - Title IV -E*
Adoption Assistance*
Social Services Block Grants
*This program/cluster contains a portion of Recovery Funds.
159
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2010
4 Dollar threshold used to distinguish between
Type A and Type B programs: $ 1,038,579
4 Auditee qualified as low -risk auditee?
II. FINANCIAL STATEMENT FINDINGS
2010-01: Audit Adjustments
X Yes No
Condition: Adjustments to the County's financial records were proposed and recorded during the
audit to properly report the government -wide and fund -level financial statements in accordance
with generally accepted accounting principles (GAAP).
Criteria: Under professional standards, significant adjustments to the financial statements,
including footnote disclosures, is considered a control deficiency.
Cause: The misstatements resulting in the adjustments were caused by a number of factors
including communication between departments and human error.
Effect: Financial statements that are not correctly stated in accordance with GAAP can be
misleading to users.
Recommendation: We recommend the Finance Department continue to strive to correct specific
issues resulting in the misstatements.
Auditee Response:
With needing to close the books on a timely basis to be able to complete the financial
statements on time, this is sometimes a challenge. We will have the central accounting staff
extend the time that they are monitoring payables and revenues that cross years. Currently we
close out at the end of January, we will have staff continue into the month of February
monitoring prior year revenue and expense.
III. FINDINGS AND QUESTIONED COSTS FOR FEDERAL AWARDS
2010-02: Schedule of Expenditures of Federal Awards
Condition: A portion of the schedule of expenditures of Federal awards did not cross foot
correctly and was therefore misstated. Additionally, the schedule was not complete as it did not
include Federal expenditures associated with CFDA #93.667, Social Services Block Grant Disaster
Recovery.
160
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2010
Criteria: The County is required to prepare a complete and accurate schedule of expenditures of
Federal awards in accordance with OMB Circular A-133. The schedule should include total
expenditures for each Federal program, by identifying Catalog of Federal Domestic Assurance
(CFDA) numbers.
Cause: The cross footing problem occurred due to data entry errors and formulas not working
properly on the schedule from the Human Services Fund used to prepare the schedule of
expenditures of Federal awards. The completeness problem occurred due to an inaccurate
reporting of grant expenditures from the Social Services Fund.
Effect Inaccurate reporting of Federal expenditures can result in noncompliance with a variety of
Federal grant requirements.
Recommendation: We recommend the Finance Department review information provided by other
departments for accuracy, and work with the departments to ensure completeness.
Auditee Response:
We have already set some changes in motion. All grants are approved by the Board of County
Commissioners and recorded by the Clerk to the Board. We have asked the Clerk to the Board
to identify within the minutes system when the grant has Federal dollars. This way at the end of
the year we can get a listing and cross check with what the departments supply to us. We have
also met with the department that their section did not cross foot and explained how the
schedule is to work. We will also make sure that all formulas are working.
2010-03: Adoption Assistance — Eligibility
Catalog of Federal Assistance (CFDA) Number and Title: #93.659, Adoption Assistance
Federal Agency Name: U.S. Department of Health and Human Services
Pass -Through Entity Name (if applicable): Colorado Department of Health and Human Services
Award Number/Name: Not Applicable
Award Year(s): July 1, 2009 - June 30, 2010
Condition: Of the 40 children selected for testing eligibility, we noted two children who were not
eligible for adoption assistance. Per review of the files, the Court Orders were not appropriate for
the subsidy as they had dual language including reasonable efforts that had been made to keep the
child in the home and that this was an emergency situation.
Criteria: The Court Order stated "there were reasonable efforts made to avoid an emergency" and
"this is an emergency removal." There cannot be dual language in the Court Orders as there is no
way to decide which one was meant.
Cause: The cause of the error was due to inadvertently changing the status of the child in the
system along with the case file.
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2010
Effect: A violation or failure to comply with Federal laws and regulations may result in the
Federal oversight agency taking any action deemed necessary to gain compliance.
Recommendation: We recommend the County review the Trails system while reviewing the
eligibility files yearly.
Questioned Costs: $765 - Known; $53,353 - Projected
Auditee Response:
Management concurs with this finding. The Department will continue to train caseworkers on
the requirements in regard to court orders. This training will instruct caseworkers, legal staff,
and support staff to review all court orders to ensure that "Dual Language" is not included in the
orders. All cases that have been identified as being determined IV -E Eligible in error have been
corrected in the Trails system.
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR FEDERAL AUDIT FINDINGS
For the Year Ended December 31, 2010
Findings
2009-02 — Allowable Activities
Catalog of Federal Assistance (CFDA) Number and
Title: #10.551 and #10.561, Food Stamp Cluster
Federal Agency Name: U.S. Department of
Agriculture
Pass -Through Entity Name (if applicable):
Colorado Department of Health and Human Services
Award Number/Name: Not Applicable
Award Year(s): 2010
Two recipients of benefits from a sample of 40 case
files did not contain evidence of rent paid that would
be a deduction from income used in calculating
benefits. In one of the two exceptions, the client's
adjusted income did not exceed the standard deduction
when calculating benefits; therefore, the benefit
payment is not affected. In the second of two cases
tested with exception, the client received an additional
$34 each month in unallowed benefits.
2009-03 — Eligibility
Catalog of Federal Assistance (CFDA) Number and
Title: #93.575 and #93.596, Child Care and
Development Block Grant Cluster
Federal Agency Name: U.S. Department of Health
and Human Services
Pass -Through Entity Name (if applicable):
Colorado Department of Health and Human Services
Award Number/Name: Not Applicable
Award Year(s): 2010
Two case files from a sample of 40 found exceptions
to the requirements of Forms SS -1, SS -5, and SS -7.
One case file did not contain a documented client
responsibility agreement form, and one case file did
not contain a County required activity sheet used to
derive scheduled day care attendance for the child.
Status
The Department continues to train/stress staff on
the importance of providing detailed case
comments. The Department has established a
standardized case comment template that staff
must use if they are not doing an adequate job (as
identified during case reviews, client compliant
calls, etc.) of inputting case comments. There are
random formal case reviews performed. The
likelihood that an individual technician's case will
be reviewed increases or decreases depending on
the rating score of the technician's cases received
in the previous quarter.
The Department continues to train and stress the
importance of completing both the Client
Responsibility Agreement (CRA) and the Activity
Sheet (AS) with each case and imaging it with the
appropriate case information in the correct
Document Type in our Scanned Documents
system. A minimum of two cases per technician
are informally reviewed each month by the
technician's supervisor/lead worker. Part of that
case review includes reviewing the CRA and AS
for each case. These information reviews are in
addition to any review that occurs when an issue
comes to the supervisor's/lead worker's attention
on a particular case.
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WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR FEDERAL AUDIT FINDINGS (Continued)
For the Year Ended December 31, 2010
Findings
Status
2009-04 — Allowable Activities
Catalog of Federal Assistance (CFDA) Number and
Title: #93.667, Social Services Block Grant
Federal Agency Name: U.S. Department of Health
and Human Services
Pass -Through Entity Name (if applicable):
Colorado Department of Health and Human Services
Award Number/Name: Not Applicable
Award Year(s): 2010
In 2009, a sample of 40 case files were tested with the
following exceptions noted: 10 did not have a
sufficient performance or documentation of the
supervisory 90 -day reviews electronically in the
TRAILS system software.
Child Welfare Supervisors are required to review
assessments with caseworkers upon closure with
the Assessment Closure Checklist and to review
cases with caseworkers during the 90 day review
using the 90 -Day Review Checklist.
Additionally, a double-check of the use of the
Assessment Closure Checklist and the 90 -Day
Review Checklist is performed when these
assessments or cases are selected for State Child
Abuse and Neglect Appeals of Findings or for
Subpoenas of Records. The comments regarding
these reviews are submitted to Gloria Romansik
and Heather Walker.
Child Welfare continues to provide monthly and
quarterly reports to CW Administration and
supervisors regarding the cases which are due for
90 -day reviews. To assist in this process, the
State Trails Case Database System rolled out an
Alert System in late December 2010, which
notifies both caseworkers and supervisors of the
cases which are due for 90 -day reviews.
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