HomeMy WebLinkAbout20081837.tiff �. 'cvgr."•nr'7r?+en"+�,.. .,1-,,,R Bern�m,... ...�,;rntp,7'""ent'"�.•.•
i 1 a t: F '1
1,.,' ' • i
1 o r
COMPREHENSIVE
ANNt_JA I J
' .•rYs A*Z,-" •.)1 t '' r y''� L '''' ' M•,, •9�.,.t .4 _✓-. '4A.4'1
.r � , '' :at h a, ilk ` 1 � E-tipe1�1 • . :4.•iYi .fi . ` ty. t�pp`�' "' •� R • ' t..
F . 4''. ,+.r .. 4 tI j�7,'y • r ,. , .,
•
,,E.t t...,1,,, '� ,. Y+' well i P 41 F ids •4 ,4{.: :, .
.t 7 d' • • i+•• '.,4 may+ 1 Vf.• (, A I . + `
a, •.r`r r •. '. ,•t •. . • . .•r _ ib +a.. V,rprig* .•. ' r . �'K
jt•Y..4F' t.. '..1 •1), I . .` •
f. •4(4.•?III
� rr� l .t� ,':s A X., o . ale y t. • �.t� , �� •
ir r •,..,:r •' a . . iii
4 { 4 L .
.,� ...../4i I,,'•
,. ,�� ' •
•4•'•
`. .-.a rr4. .t.•.`y� }l - 'I� • . ,Iv. `f '
� .ii •,r I •'• 4 „A 1t. .• ,�•,tl �." '•`t 5r ..arr ° 1. `. i
. •syi 1r °, 'l r . _,t/ E• ° '.' .n t ., •i •..•• r ':i`° • y • •A
�1a .,A-.v„-.4%;.,.• tri (', 1 �•4.' +• •_ I,y,. 4..:1.: •e• t•: !_-_ ..A tr I . •. e • -• .. i • ;f.i f
t 8t�;4y f1- ,'v.4 ' - J' { �; .; .. 4 •; �• .. iI + r' a1 • yi . 4 + r t e.i +ra• •. ,'.' •-"v x,13, l' +. S• "a.* .a. • 1 r t- r; 1.
,,,.....'4:—.I .,,41;:l':,,I.::
•
• i y;t,.,• .wee 4Z 1 I.P. "' _y.. 4e? '`Yr a
ij �;y +'.7 i',. . • 't4t,. S . i ` e4f:, j`'. • s :� .•. .-. .'
•St4414 - 1 7.4 4\ • .
t 4.___,'• T..... .. 1 .e .•'.6 Iri.'' • it - P. :j'.ii-':41'..• .
e i f �l�:.j' '•.rr .♦fi, t • ,�1 {s L.' r • 4tt r•i "r_b. +. Y '� q . t.., t*�. r r
I.'lli •rOF '1 .O, ,. . `
.-i, .! ,.... 4,., ,,,•,„i - - . ....,..-4..
ii`.§ () ' 4 V
r ,'' 'V' 17 i''• L-I - grA ., .ioF col., 'i 1 i • S, ei ice,.�' i .d.� ,, ` .1 4 / •+[ ....,.. p
uhf: ty
rtC'QGta
feciit
WF�YC
COLORADO
TABLE OF CONTENTS
INTRODUCTORY SECTION
Table of Contents i
Letter of Transmittal 1
Government Finance Officers Association Certificate
of Achievement for Excellence in Financial Reporting 9
Organization Chart 10
Principal County Officials 11
FINANCIAL SECTION
Independent Auditors' Report 13
Management's Discussion and Analysis 15
Basic Financial Statements
Government-Wide Financial Statements:
Statement of Net Assets 25
Statement of Activities 26
Governmental Fund Financial Statements:
Balance Sheet 28
Reconciliation of Total Governmental Fund Balances to the
Statement of Net Assets 30
Statement of Revenues, Expenditures and Changes in Fund Balance 32
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities 34
Proprietary Fund Financial Statements:
Statement of Net Assets- Proprietary Funds 35
Statement of Revenues, Expenses and Changes in Net Assets-
Proprietary Funds 36
Statement of Cash Flows- Proprietary Funds 37
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Assets 38
Statement of Changes in Fiduciary Net Assets 39
Notes to the Financial Statements 40
Required Supplementary Information
Pension Trust 69
Modified Approach for Infrastructure Assets 70
i
Required Supplementary Information Other Than MD&A:
Schedules of Revenues,Expenditures and Changes in Fund Balances-Actual and Budget
Major Funds:
General Fund 71
Public Works Fund 76
Social Services Fund 78
Human Services Fund 80
Supplemental Information:
Combining Statement of Non-major Governmental Funds:
Explanation of Funds 83
Combining Balance Sheet 88
Combining Statement of Revenues, Expenditures and Changes in Fund Balance 90
Schedules of Revenues,Expenditures and Changes in Fund Balances-Actual and Budget
Non-major Governmental Funds:
Special Revenue Funds:
Capital Expenditures Fund 92
Conservation Trust Fund 93
Contingent Fund 94
Emergency Fund 95
Public Health Fund 96
Solid Waste Fund 97
Bebee Draw Fund 98
Component Units:
Housing Authority 99
E-911 Authority Fund 100
Local Highway Finance Report 102
Combining Statements of Internal Service Funds:
Combining Statement of Net Assets- Internal Service Funds 104
Combining Statement of Revenues, Expenses and Changes in
Net Assets- Internal Service Funds 106
Combining Statement of Cash Flows- Internal Service Funds 108
Combining Statement of Fiduciary Funds:
Combining Statement of Changes in Assets and Liabilities - Fiduciary Funds 110
ii
Schedule of Revenues,Expenses and Changes in Fund Equity-Actual and Budget
Enterprise Fund and Internal Service Funds:
Enterprise Fund:
Paramedic Services 111
Internal Service Funds:
Motor Vehicle Fund 112
Health Insurance Fund 113
Insurance Fund 114
Phone Service Fund 115
Weld Finance Corporation 116
STATISTICAL SECTION
Net Assets by Componet 118
Changes in Net Assets 119
Fund Balances of Governmental Funds 121
Changes in Fund Balances, Governmental Funds 122
Assessed and Estimated Actual Value of Property 123
Property Tax Levies- Direct and Overlapping Governments 124
Principal Taxpayers 125
Property Tax Levies and Collections 126
Direct and Overlapping Governmental Activities Debt 127
Legal Debt Margin Information 128
Private Purpose Revenue Bonds 129
Demographic and Economic Statistics 130
Principal Employers 131
Full-time Equivalent Employees by Function/Program 132
Operating Indicators by Function/Program 133
Capital Asset by Function/Program 134
Insurance in Force 135
SINGLE AUDIT
Schedule of Expenditures of Federal Awards 137
Report on Compliance and on Internal Control Over Financial Reporting
Based on an Audit of Financial Statements Performed in Accordance with
Governmental Auditing Standards 142
Report on Compliance with Requirements Applicable to Each Major Program and
Internal Control over Compliance in Accordance with OMB Circular A-133 144
Schedule of Findings and Questioned Costs 147
Summary Schedule of Prior Audit Findings 150
Notes to Schedule of Expenditures of Federal Awards 154
iii
(ice
DEPARTMENT OF FINANCE
AND ADMINISTRATION
PHONE (970) 356-4000, EXT.4218
FAX: (970) 352-0242
wipe P.O. BOX 758
GREELEY, COLORADO 80632
COLORADO
June 6, 2008
Honorable Board of Commissioners
County of Weld
915 10th Street
Greeley, CO 80631
Dear Board Members:
The Comprehensive Annual Financial Report of the County of Weld, State of
Colorado for the fiscal year ended December 31, 2007, is hereby submitted.
Responsibility for both the accuracy of the data, and the completeness and fairness
of the 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, 2007 financial statements, Weld County has elected to
continue a significant change in government financial reporting. The purpose of
these changes,which were developed by the Governmental Accounting Standards
Board (GASB), is to provide better and more complete information to the users of
governmental financial statements. In addition to changes to the basic financial
statements, the statements are now accompanied by an introduction,overview,and
analysis, referred to as "Management's Discussion and Analysis" (MD&A). This
letter of transmittal is designed to complement the MD&A and should be read in
conjunction with it. The MD&A can be found in the Financial Section immediately
following the independent auditor's report.
The County provides the full range of county services contemplated by statute or
charter. These include general government functions, public protection and safety,
health, social services, human resource services, public improvements, road and
bridge operations, planning and zoning, and general administrative services.
This report includes all activities for which the Board of County Commissioners is
accountable to the citizens of Weld County, financially, or by State Statute or the
Weld County Home Rule Charter. All applicable funds, departments, and offices
are included in these financial statements as part of the "primary government" of
Weld County. In addition, there are several legally separate entities that have
significant operational or financial relationships with the County. These include the
1
significant operational or financial relationships with the County. These include the
Weld County Housing Authority, Weld County Retirement Plan, Beebe Draw Law
Enforcement Authority, Weld County Finance Corporation, and E-911 Authority.
These entities are also included in the County's financial statements.
INDEPENDENT AUDIT
Colorado law requires that the County's financial statements be audited by an
independent certified public accountant or firm of certified public accountants
licensed to practice in the State of Colorado. The county's financial statements
have been audited by Bondi and Company, LLC, a Colorado licensed Certified
Public Accounting firm. The goal of the independent audit was to provide
reasonable assurance that the financial statements are free of material
misstatement. The independent audit involved examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. The
independent auditor concluded, based upon the audit,that there was a reasonable
basis for issuing an unqualified opinion that the County's financial statements for
the year ended December 31, 2007, are fairly presented in conformity with GAAP.
The independent auditor's report is presented in the front of the financial section
of this report.
The independent audit of the County's financial statements was part of a broader,
federally mandated"Single Audit" in accordance with provisions of the Single Audit
Act of 1984, Federal Single Audit Amendment of 1996, and U.S. Office of
Management and Budget Circular A-133, Audits of States, Local Governments,
and Non-Profit Organizations. The "Single Audit" is designed to meet the special
needs of federal grantor agencies. The standards governing Single Audit
engagements require the independent auditor to report not only on the fair
presentation of the financial statements, but also on the audited government's
internal controls and compliance with legal requirements, especially as they relate
to the administration of federal awards. Single audit schedules and the auditor's
reports are available in the "Single Audit" section of the document.
PROFILE OF WELD COUNTY
Location and demographics. Weld County is located along Colorado's Front
Range in the northern part of the state. Weld County covers an area of 3,999
square miles in north central Colorado. It is bordered on the north by Wyoming
and Nebraska and on the south by the Denver metropolitan area. The third largest
county in Colorado, Weld County has an area greater than that of Rhode Island,
Delaware and the District of Columbia combined.
The climate is dry and generally mild with warm summers, mild winters and a
growing season of approximately 138 days. The land surface is fairly level in the
east, with rolling prairies and low hills near the western border. Elevations in the
county range from 4,400 to 5,000 feet.
The South Platte River and its tributaries, the Cache la Poudre, Big Thompson,
2
Honorable Board of Commissioners
Little Thompson, Boulder, St. Vrain, and other smaller streams, flow into Weld
County from the south and west, leaving the county on the east.
There are 31 incorporated towns in Weld County. The county seat and principal
city, Greeley, is located in the west central part of the county and contains almost
half the county's population. Generally, most of the remaining population resides
within a 20 to 30 mile radius of Greeley; the northeastern part of the county is
sparsely populated. Southwest Weld County is one of the fastest growing areas in
the state due to its proximity to the north Denver metro area. The county's
population in 2007 was approximately 226,600.
COUNTY GOVERNMENT
County Services. Weld County provides the full range of services contemplated by State Statute
and the Weld County Home Rule Charter. Services include:
• Judicial and public safety - consisting of the Sheriff, District Attorney, operation and
maintenance of the detention center, and building inspection.
• Health, employment, and social services.
• Planning and zoning.
• Construction, reconstruction and maintenance of streets, highways, and bridges.
• Parks and recreation.
• Property valuation, tax collection and distribution, and vehicle licensing.
• General administrative services.
County Operating Structure. Weld County became Colorado's first Home Rule County in 1976.
The County is governed by a five-member Board of County Commissioners. Three Commissioners
are elected by districts of relatively equal population and two Commissioners are elected at large.
They serve staggered four-year terms and function as the County's policymaking body. Each
Commissioner coordinates one of five functions of the County. The County is also served by four
other elected officials: assessor, clerk and recorder, district attorney, and sheriff. Weld County also
has a five-member, non-partisan, elected body that is charged to review all aspects of County
government and to make periodic written reports to the public. The Commissioners appoint
department heads to be responsible for the various day-to-day operations.
Budgeting. The County Commissioners annually adopt budgets by department for all
governmental and proprietary funds. Budgets are controlled by the major object categories of
Personnel, Operating Costs, and Capital Outlay. Control is maintained by the three categories at
the division/department level in the General Fund and at the fund level in all other funds.
Supplemental appropriations are approved by the Board of County Commissioners as needed
during the year to provide for those items that were unknown or unforeseen at the time the budget
was originally adopted.
3
Honorable Board of Commissioners
County Employment. Weld County government employs 1258 regular staff (those receiving
standard benefits) and 205 temporary and seasonal employees. Employees receive a
comprehensive compensation package, typical of municipal and county governments along the
Colorado front range. Benefits include paid leave, medical and dental insurance plans, a defined
benefit retirement plan, and a variety of other insurance and non-insurance benefits.
MAJOR INITIATIVES
For the Year. In 2007, the Board identified a number of significant program changes to enhance
service delivery to the citizens of Weld County. The following is a summary of significant program
changes and initiatives for 2007:
Completed construction of Phase Ill of the North Jail.
Recruited and trained staff to open Phase Ill of the North Jail.
Increased traffic enforcement in Weld County to reduce traffic fatalities.
Coped with the continued growth and development in the County.
Enhanced services at the Southwest Weld County Service Center.
Implemented strategic transportation system to accommodate growth in County's
urbanized areas and use of the transportation impact fees.
Reorganized Code Enforcement and Animal Control into one unit.
Identified technology uses to improve services and cost-effectiveness of services.
Enhanced public relations and communication efforts with constituents.
Began updating the Weld County Comprehensive Plan.
Continued implementation of e-government strategy.
Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
Enhanced and expanded services in the Southeast Weld Service Center.
Continued implementation of CBMS system in Social Services.
Contracted to construct Weld County Road 13 from Weld County Road 8 to 5th Street in
Frederick.
4
Honorable Board of Commissioners
Monitor West Nile Virus, but no spraying.
Continued to develop plans for the County for bioterrorism and emergency
preparedness.
Coped with growing inmate population.
Funded cost of post-employment benefit for retirees' health program.
Implemented the five-year Support Healthy Marriages Grant.
FACTORS AFFECTING FINANCIAL CONDITION
Economic Conditions and Outlook.
Prior to the credit crisis that began in late 2007 the Weld County economy was continuing its steady
recovery from the 2001 recession. Since 2001 data from the Colorado Department of Labor and
employment shows that Weld County's workforce has grown by 9,050 positions, or a 13% gain. In
the last year alone it rose by 3,185 jobs, or a 4.2% increase. Key industries driving employment
growth are service industry, energy, insurance, government, and health services.Average earning
per worker totaled $34,661, a 10.6% increase over last year. However, per capita income for Weld
County was only$24,687. By comparison, The Colorado per capita average was$37,946, and the
U.S. average was $34,586. The poverty rate in Weld County was 10.3%, 10% for Colorado, and
12.5% for the nation in the latest data from the US Department of Commerce.
Population growth in Weld County continues at a robust rate.According to the US Census Bureau's
report released April 4, 2007, Weld County continues to be the second fastest growing metropolitan
area in the country at 3.15% from 2000-2006. A good portion of the reason for that growth
continues to be the Southwest portion of the county along Interstate 25, but another area, the
Interstate 76 corridor with Hudson, Lochbuie, and Keenesburg, is emerging as the next big growth
area. The Greeley area continues in its slowdown as residential housing is over built and little new
construction in being started with the national credit crisis, housing slump, and potential recession.
Although increased energy prices play havoc with the national economy,the energy market offers a
number of positives for Weld County. The county has over 13,500 active oil and natural gas wells,
as a result, Weld County has enjoyed significant growth in this area due to the increase in the
demand for oil and natural gas. Even with Weld County's leadership in fossil fuel extraction we
are excited to also to pursue a leadership role in the renewable energy technologies. To this end in
the last year one ethanol plant has opened and another is under construction. A major wind farm is
being constructed in Northeastern Weld County. Finally, in March, 2007, Vestas Wind Systems
from Denmark announced that it is opening its North American headquarters and manufacturing
plant in Windsor that will make wind turbine blades and employee over 400 people.
The Weld County economic fortunes are still heavily tied to agriculture and manufacturing, which
are vulnerable, especially with the dependence on the relative importance of a few, large
employers. The county continues to attract new employers and existing employers are expanding.
5
Honorable Board of Commissioners
The diversity of the local economy away from agriculture has made Weld County much more like
the statewide economy and the metro-Denver area. In the last year Owens-Illinois, Great West
Ethanol, and, Greenlight Energy have opened new major operations in the county. In addition to
these major projects, a number of small new and existing companies are expanding in Weld
County, especially in southwest Weld County. The level of capital investment in Weld County for
new facilities and facility expansions bodes well as an indicator of business confidence in the region
and should create an environment conducive to continued infrastructure development.
For the Future. As Weld County looks to 2008 and beyond a number of challenges face the
Board and staff to meet the ever changing and growing demands of the county's citizens to
maintain the quality of service the citizens have grown to expect from their county government.
Public safety will continues to have a significant impact on future budgets. The impact is from
the growth in the county putting demands on the criminal justice system, plus the public
continued demand for more law enforcement, rigorous prosecution of crimes, and more and
longer incarceration of criminals committing crimes. All of this impacts the court space needs,
District Attorney's Office, the Sheriffs patrol unit, and jail space needs and costs. A tough job for
the commissioners is to determine how much financial support to provide to the criminal justice
system in Weld County balanced against all the other demands for service in the other
functional areas of the county.
Growth in the county has put an ever increasing demand on county services and the county's
infrastructure. The growth has increased the use of county roads and created congestion on
several county roadways that need to be mitigated. Although the county has made tremendous
progress the last twenty years in improving the over all condition of county roads and bridges,
the growth is adding a whole set of new problems. The character of many county roads in the
Greeley-Windsor area and Southwest part of the county have changed from rural roads to
urbanized roads due to the traffic volume demanding a higher capacity and level of service.
Even though the county has increased funding in this area and imposed a traffic impact fee in
these areas, additional investments may have to be made in the future to the keep the
transportation system at an acceptable level.
Besides transportation and public safety the population growth and economic boom have had
other impacts on the county that will continue. The tight labor market has impacted recruitment
and salary levels in several of the county jobs. This adds costs to providing services. Growing
demand for service is being experienced in all of the county departments besides those directly
related to growth, such as Planning and Building Inspection. The growth adds stain to the
services and to the finances of the county, especially with the fiscal constraints of the TABOR
property tax and revenue limitations, and the Weld County Home Rule Charter 5% property tax
growth limit.
All this means that in 2008, and in the future the Weld County Commissioners' primary
consideration in planning any new budget will be identifying available revenues to offset growing
expenditures. Since a third of the county's revenues is from property tax the property tax
revenue limits of TABOR and the Weld County Home Rule Charter will require a prudent
approach to the levels of service that impact expenditures beyond the current budget levels.
Without voters' approval growth from property tax revenues can only be realized if the assessed
value increases, either through reappraisals or new construction that adds properties to the tax
roll. The paradox is that all though growth adds demand for services, continued growth and
economic development is essential for the long term financial viability of Weld County
6
Honorable Board of Commissioners
Government and its citizens.
Pension Trust Fund Operations. Weld County sponsors a defined benefit pension plan for its
employees. Each year, an independent actuary engaged by the pension plan calculates the
amount of the annual contribution that Weld County must make to the pension plan to ensure that
the plan will be able to fully meet its obligations to retired employees on a timely basis. As a matter
of policy Weld County fully funds each year's annual required contribution to the pension plan as
determined by the actuary. As a result of Weld County's conservative funding policy, Weld County
has succeeded as of December 31, 2007, in funding 76.0% percent of the present value of the
projected benefits earned by employees. The remaining unfunded amount is being systematically
funded over 30 years as part of the annual required contribution calculated by the actuary.
Cash Management. Cash temporarily idle during the year was invested in time deposits ranging
up to 180 days to maturity. Interest earned on investments of cash held by the County Treasurer
was recorded as revenue in the General Fund, with the exception of interest attributed to the other
specified funds, and the interest earned on certain deposits held for other taxing authorities. The
amount of interest earned was $5,450,475 in 2007.
The County's investment policy is to minimize credit and market risks while maintaining a
competitive yield on its portfolio. Accordingly, deposits are either insured by federal depository
insurance or collateralized. All collateral on deposits was held either by the County, its agent or a
financial institution's trust department in the County's name. All investments held by the County
during the year and at December 31, 2007, are classified in the category of lowest credit risk as
defined by the Governmental Accounting Standards Board, except for mutual funds and investment
pools which cannot be categorized.
Risk Management. During 2007 Weld County continued to be a member of Colorado Counties
Casualty and Property Pool. The pool offers full safety and risk management programs to minimize
losses,together with 57 other Colorado counties. Effective January 1, 1992, Weld County became
self-insured under a State permit for workers' compensation.
AWARDS AND ACKNOWLEDGEMENTS
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the County for its Comprehensive Annual Financial Report for
the fiscal year ended December 31, 2006. This was the twenty-second year that the County has
received this prestigious award. In order to be awarded a Certificate of Achievement, the County
published an easily readable and efficiently organized Comprehensive Annual Financial Report.
This report satisfied both generally accepted accounting principles and applicable legal
requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement
Program's requirements and we are submitting it to the GFOA to determine its eligibility for another
certificate.
In addition, the County also received the GFOA's Award for Distinguished Budget Presentation for
its 2007 annual appropriated budget for the eighteenth consecutive year. In order to qualify for the
Distinguished Budget Presentation Award, the County's budget document was judged to be
7
Honorable Board of Commissioners
proficient in several categories including policy documentation,financial planning,and organization.
Financial reports are valuable in that they provide a permanent historical record of a governmental
agency's operation to the management and the general public. It is our belief that this is a
comprehensive report of the 2007 financial transactions under our control and that the following
statements present an accurate, informative record of the financial activities of the County of Weld
and its financial condition at December 31, 2007. The preparation of this report could not be
accomplished without the efficient and dedicated services of the entire staff of the
Accounting/Finance Department. I should like to express my appreciation to all members of the
department who assisted and contributed to its preparation. I would also like to thank the members
of the Board of County Commissioners for their interest and support in planning and conducting
financial operations of the County in a responsible and progressive manner.
Respectfully submitted,
atillade4
Donald D. Warden, Director
Finance and Administration
8
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
County of Weld
Colorado
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2006
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports(CAFRs)achieve the highest
standards in government accounting
and financial reporting.
ceisitet, Cox
telt
President
geffer 19041T1-'
Executive Director
9
n
a
III N CD g l 1, . O o>$
Z L
W a clt ; O Et
5 ' I
ZO N a) E
IX (� C N C O •O ` m
C E E U N C N O ' Oco O � R
`W c — .gm Z E 1° — fA W W
> Q a°i U UU ap " Ep r
0 O c p i =
O
Y o
W z a$
N
— ELY N C U m5
N U
/�/D O co Cl_
E oo BO w`q2
LI. F— N p U U a �CI-
V — 'E
W
O E / / `
5 a o
C V
O Z a L — O T N C O O am 2s ? w$E
C « C N O N cc N w, E
m E c .4 .y c `o c ° ylw
I p -t c E o - U c w 2La a) c® cm
8.
O C '� al' m V U paw IMF F
a0
R
Z o C'
m _ 2 o O
C = C O U `x a ,.>
$ of
L_ a v •
F
O J 1 a m E .- 0 _ N «m a° a 2 " _ o w) 6, c
E 8 0
U z
p oU a) m�� dNO " wLL U
O 2 O . W U = d w
O U E
Z -c w irs c c
W co py
O m — c .) Ol c o m _ cC6 , nttcom w ?2 =0 °- w
U z e gg_• a
O - E C Ot 60 co .H C C 0 N <Jhh=-,..R-E c c a m c
WI
w m c L E o R C ° �� ma�a $m5a• =�d`
O' R ea oU p C -EO LLd° ru a <3n-y s >a`
J O C O O LE ° m
p Ea_ Q v
10
COUNTY OF WELD
STATE OF COLORADO
PRINCIPAL COUNTY OFFICIALS
December 31, 2007
Board of County Commissioners
Douglas Rademacher
Robert Masden
Bill Garcia
David Long
William Jerke
County Clerk and Recorder
Steve Moreno
County Assessor
Christopher M. Woodruff
County Sheriff
John Cooke
Director of Finance&Administration
Donald D. Warden
Controller
Barbara Connolly
Treasurer
John R. Lefebvre,Jr.
11
FINANCIAL
SECTION
eit
44(\f‘ \h
1
COLORADO
W�`P�
BONDI & Co. LLC
44 INVERNESS DRIVE EAST (303)799-6826 PHONE
ENGLEWOOD,COLORADO 80112 CERTIFIED PUBLIC ACCOUNTANTS (800)250-9083 TOLL-FREE
MANAGEMENT CONSULTANTS
www.bondico.com (303)799-6926 FAX
Board of County Commissioners
Weld County
Greeley, Colorado
Independent Auditors' Report
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, the aggregate discretely presented component units, each major fund,
and the aggregate remaining fund information of Weld County, Colorado, as of and for the
year ended December 31, 2007, which collectively comprise Weld County's basic financial
statements as listed in the table of contents. These financial statements are the responsibility
of Weld 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 the Weld County
Housing Authority, which represents 39 percent, 37 percent, and 67 percent, respectively, of
the assets, net assets and revenues of the discretely presented component units. Those
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 Weld County
Housing 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
examining, on a test basis, evidence supporting the amounts and disclosures in the fmancial
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 and the report of other auditors provide 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, the aggregate discretely presented
component units, each major fund, and the aggregate remaining fund information of Weld
County, Colorado, as of December 31, 2007, 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.
13
ers u
Affiliate Offices Worldwide
Board of County Commissioners
Weld County
In accordance with Government Auditing Standards, we have also issued our report dated June
6, 2008 on our consideration of Weld County's internal control over financial reporting and
on 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.
Management's Discussion and Analysis on pages 15 through 24, the schedule of pension
funding progress and employer contributions, the condition assessments of infrastructure,
and the budgetary comparison schedules on pages 69 through 81 are not a required part of
the basic fmancial statements but are supplementary information required by accounting
principles generally accepted in the United States of America. We 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 Weld County, Colorado's basic financial statements. The introductory
section, combining and individual nonmajor fund financial statements, budgetary comparison
information, Local Highway Finance Report, schedule of expenditures of federal awards, 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, the 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. Such
information is, in our opinion, based on our audit and the report of other auditors, 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 in the audit of the basic financial statements, and accordingly, we express
no opinion on them.
` """h Et 4. u.c
June 6, 2008 BONDI& Co. ac
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, 2007. We encourage readers to
consider the information presented here in conjunction with the letter of transmittal and basic
financial statements to enhance their understanding of the County's financial performance.
FINANCIAL HIGHLIGHTS
• Weld County's assets exceeded liabilities by$303.3 million at the end of 2007. Of this amount,
$42.3 million may be used to meet the government's ongoing obligations to citizens and
creditors. The remaining $261.0 million is invested in capital assets or restricted by law.
• The County's General Fund balance was$8.1 million as of December 31, 2007. Of this amount,
$.90 million is reserved for emergencies, advances, and encumbrances.
• The 2007 General Fund balance is $3.5 million lower than in the previous year. The total fund
balance is 11%of 2007 General Fund operating 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 2008.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the County's basic financial
statements. The basic financial statements contain three components: 1)govemment-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, and Beebe Draw
Law Enforcement Authority. Discretely presented component units are Housing Authority and E-
911 Emergency. More information on the functions of these entities can be found in Note 1 to the
financial statements.
Fund financial statements. A fund is a grouping of related accounts that is used to maintain
control over resources that have been segregated for specific activities or objectives. Weld County,
like other state and local governments, uses fund accounting to ensure and demonstrate
compliance with finance-related legal requirements.All of the funds of Weld County can be divided
into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government-wide financial statements. However, unlike
the government-wide financial statements, governmental fund financial statements focus on near-
term inflows and outflows of spendable resources, as well as on balances of spendable resources
available at the end of the fiscal year. Such information may be useful in evaluating a government's
near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government-wide financial statements. By
doing so, readers may better understand the long-term impact of the government's near-term
financing decisions. Both the governmental fund balance sheet and the governmental fund
statement of revenues, expenditures, and changes in fund balances provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities.
Weld County maintains ten individual governmental funds. Information is presented separately in
the governmental funds balance sheet and in the governmental funds statement of revenues,
expenditures, and changes in fund balances for the General Fund, Public Works Fund, Social
Services Fund, Human Services Fund, and Capital Expenditures Fund, all of which are considered
to be major funds. Data from the other five funds are combined into a single, aggregated
presentation. Individual fund data for each of these non-major funds is provided in the form of
combining statements elsewhere in this report.
The basic governmental fund financial statements can be found on pages 25 through 34 of this
report.
16
Proprietary funds. Weld County maintains two different types of proprietary funds. Enterprise
funds are used to report the same functions presented as business-type activities in the
government-wide financial statements. Weld County has one enterprise fund, the Paramedic
Services Fund. Internal service funds are an accounting device used to accumulate and allocate
costs internally among the County's various functions. Weld County uses internal service funds to
account for its fleet maintenance, phone services,finance corporation, and self-insurance activities.
Because these services predominantly benefit governmental rather than business-type functions,
they have been mostly included within governmental activities in the government-wide financial
statements.
Proprietary funds provide the same type of information as the government-wide financial
statements, only in more detail. The proprietary fund financial statements provide separate
information for the Paramedic Services Fund, which is considered to be a major fund of the County.
The remaining proprietary funds, all of which are internal service funds, are combined into a single,
aggregated
presentation in the proprietary fund financial statements. Individual fund data for each of these non-
major funds is provided in the form of combining statements elsewhere in this report.
The basic proprietary fund financial statements can be found on pages 35 through 37 of this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties
outside the government. Fiduciary funds are not included in the government-wide financial
statements because the resources of these funds are not available to support Weld County's own
operations. The accounting used for fiduciary funds is much like that used for proprietary funds.
The basic fiduciary fund financial statements can be found on page 38 through 39
Budgetary Comparisons.Weld County adopts an annual appropriated budget for all of its funds.A
budgetary comparison statement has been provided for all major funds on pages 71 to 81 of this
report. Budget to actual comparisons for each of the non-major funds are provided in other
schedules elsewhere in this report.
Notes to the financial statements. The notes provide additional information that is essential to a
full understanding of the data provided in the government-wide and fund financial statements. The
notes to the financial statements can be found on pages 40 through 68 of this report.
Other information. The combining statements referred to earlier in connection with non-major
governmental funds and internal service funds are presented following the notes to the financial
statements and can be found on pages 88 through 98 and 104 through 116 respectively.
COUNTY-WIDE FINANCIAL ANALYSIS
Net Assets. As noted earlier, net assets may serve over time as a useful indicator of a
government's financial position. As of December 31, 2007, assets exceeded liabilities by $303.3
million.
The following table provides a summary of the County's governmental and business-type net assets
for 2006 and 2007.
17
Table 1
Net Assets
(in Millions)
Governmental Activities Business-type Activities Total
2006 2007 2006 2007 2006 2007
Assets
Current and other assets $ 148.54 $ 151.10 $2.44 $ 2.58 $ 150.98 $ 153.68
Capital assets 239.20 249.24 .85 .99 240.05 250.23
Total assets $ 387.74 $400.34 $ 3.29 $ 3.57 $ 391.03 $ 403.91
Liabilities
Current and other liabilities $ 88.74 $ 96.46 $ .32 $ .39 $ 89.06 $ 96.85
Long-term liabilities 7.12 3.79 .00 .00 7.12 3.79
Total liabilities $ 95.86 $ 100.25 $ .32 $ .39 $ 96.18 $ 100.64
Net Assets
Invested in capital assets,
of related debt $233.63 $249.24 $ .85 $ .99 $ 234.48 $ 250.23
Restricted 9.70 10.73 .00 .00 9.7 10.73
Unrestricted 48.55 40.12 2.12 2.19 50.67 42.31
Total net assets $ 291.88 $ 300.09 $ 2.97 $ 3.18 $ 294.85 $ 303.27
A significant portion of Weld County's net assets (14.0%) represents unrestricted net assets of
$42.31 million, which may be used to meet the County's ongoing obligations to citizens and
creditors.
Another significant portion of the County's net assets (82.5%) reflects its investment in capital
assets. These assets include land, buildings, machinery, equipment and infrastructure. These
capital assets are used to provide services to citizens; consequently, they are not available for
future spending. Although the investment in capital assets is reported net of related debt, it should
be noted that the as of December 31, 2007 Weld County has no outstanding debt.
An additional$10.73 million of the County's net assets(3.5%)represents resources that are subject
to external restrictions on how they may be used. Included in this category are the TABOR
emergency reserve of$5.0 million and $1.75 million in reserves for insurance claims.
At the end of 2007 Weld County had positive balances in all three categories of net assets, both for
the government as a whole, as well as for its separate governmental and business-type activities.
Changes in Net Assets. Governmental and Business-type activities increased the County's net
assets by $8.43 million in 2007. The following table indicates the changes in net assets for
governmental and business-type activities in 2006 and 2007.
18
Table 2
Changes in Net Assets
(in Millions)
Governmental Activities Business-type Activities Total
2006 2007 2006 2007 2006 2007
Revenues
Program revenues:
Charges for services $39.15 $37.40 $7.71 $8.53 $46.86 $45.93
Operating grants and contributions 30.05 36.50 0.09 0.12 30.14 36.62
Capital grants and contributions 0.00 4.74 .01 0.00 .01 4.74
General revenues:
Property taxes 62.12 67.22 0.00 0.00 62.12 67.22
Other taxes 11.88 10.60 0.00 0.00 11.88 10.60
Other revenues 3.25 5.19 0.00 0.00 3.25 5.19
Total revenues $146.45 $161.65 $7.81 $8.65 $154.26 $170.30
Expenses
General government $26.64 $35.30 $0.00 $0.00 $26.64 $35.30
Public safety 32.56 36.72 0.00 0.00 32.56 36.72
Streets and highways 37.07 34.64 0.00 0.00 37.07 34.64
Culture and recreation 1.55 1.01 0.00 0.00 1.55 1.01
Health 8 Welfare 26.18 31.02 0.00 0.00 26.18 31.02
Interest on long-term debt .32 .34 0.00 0.00 .32 .34
Economic Assist 11.75 14.40 0.00 0.00 11.75 14.40
Paramedic services 0.00 0.00 7.16 8.44 7.16 8.44
Total expenses $136.07 $153.43 $7.16 $8.44 $143.23 $161.87
Increase(decrease)in net assets 10.38 8.22 .65 .21 11.03 8.43
Net Assets 1/1/07 281.49 291.87 2.32 2.97 283.81 294.84
Net Assets 12/31/07 $291.87 $300.09 $2.97 $3.18 $294.84 $303.27
Governmental Activities. Governmental activities increased Weld County's net assets by $8.22
million in 2007. Key elements of this increase are as follows:
• Total revenues were $161.65 million, up 10.4% from the prior year, primarily due to property
taxes ($5.1 million) and operating grants ($6.45 million).
• Expenses totaled $153.43 million. This represents a 12.76 % increase over the previous year.
Increases occurred in most categories due to normal wage and inflation costs, pay-off of the
Certificates of Participation ($5.5 million), road projects and costs of providing an increased
volume of services to a growing citizen base.
Business-Type Activities. The County's only business-type activity, Paramedic Services, increased
net assets in 2007 by $0.21 million.
19
FINANCIAL ANALYSIS OF THE COUNTY'S FUNDS
As noted earlier, Weld County uses fund accounting to ensure and demonstrate compliance with
finance-related legal requirements.
Governmental Funds Overview. The focus of County governmental funds is to provide information
on near-term inflows, outflows, and balances of spendable resources. Such information is useful in
assessing the County's financing requirements. In particular, unreserved fund balance may serve
as a useful measure of a government's net resources available for spending at the end of the fiscal
year.
As of the end of 2007, the combined ending fund balances of County governmental funds was
$47.10 million. Approximately 72%of this consists of unreserved fund balance, which is available
as working capital and for current spending in accordance with the purposes of the specific funds.
The remainder of fund balance is reserved to indicate that it is not available for new spending
because it is committed for the following purposes: 1) encumbrances ($6.12 million); 2) a state-
constitution mandated emergency reserve($5.0 million); 3)an advance to the Paramedic Services
($585,000); and 4) prepaid expenses and inventory ($1.49 million).
The County has five major governmental funds. These are 1)General Fund; 2) Public Works Fund;
3) Social Services Fund; 4) Human Services Fund; 5) the Capital Expenditure Fund.
1. General Fund. This is the primary operating fund of the Weld County Government. It
accounts for many of the County's core services, such as law enforcement, planning, and
elections. The general fund balance was $8.09 million as of December 31, 2007. Of this
amount, $585,000 is reserved for advances. The 2007 fund balance is $3.5 million lower
than the previous year due dues to normal wage and inflation costs, pay off of the
Certificates of Participation (($5.5 million), road projects and the increased costs of
providing services as a result of the County's growing population. As a measure of the
general fund's liquidity, it may be useful to compare both unreserved fund balance and total
fund balance to total fund expenditures. Unreserved fund balance represents 9.2%of total
2007 expenditures, while total fund balance is 10.8% of the same amount.
2. Public Works Fund. The Public Works Fund is also state mandated. The fund records
costs related to County road and bridge construction and maintenance. The Public Works
Fund had $21.5 million in fund balance at the end of 2007. This amount was $2.1 million
more than the previous year. 2007 expenditures for road projects were less than budgeted
due to delaying the start of the Weld County Road 13 project, and revenues from highway
user taxes and specific ownership taxes were higher than anticipated.
3. Social Services Fund. The Social Services Fund is mandated by State Statute. This fund
accounts for the local share of many Federal and State public welfare programs. The fund
carried a $2.3 million balance at the end of 2007 which is 23% less than 2006. The county
received higher state allocations and thus revenues for TANF and child welfare.
4. Human Services Fund. The Human Services Fund accounts for various Federal and State
human services grants. Primary funding agencies are DOL, HHS, and CSA. The increase
in expenditures for 2007 was primarily attributed to Headstart, Job Services, TANF, and
Work Force incentive.
20
5. Capital Expenditure Fund. The Capital Expenditure Fund accounts for the construction of
major capital facilities. These are the Island Grove Regional Park parking lot improvements,
completion of the Southeast Weld Service Center and the office building for Information
Services and elections. The$18 million jail expansion project was started in 2006 and was
completed in January, 2008. The fund balance reduction was totally attributed to funding
the new jail expansion and Jail Alternative projects as planned.The encumbrances at year
end are for the jail expansion project and the Jail Altematives Building.
Proprietary Funds Overview
The County's proprietary fund statements provide the same of information found in the government-
wide statements, but in more detail.
The County has one enterprise-type fund,The Paramedic Services Fund. Unrestricted net assets
of the fund at the end of the year amounted to$(3.2 million). The total increase in net assets for the
fund was $.21 million. Other factors concerning the finances of this fund was discussed under
business-type activities.
Weld County has five internal service funds. Information on these funds is aggregated in the
Proprietary Fund financial statements.
GENERAL FUND BUDGETARY HIGHLIGHTS
Comparison of Unreserved Fund Balances as of December 31, 2006 and 2007
18
16
14
12
C 10 - O 2006
8 ■2007
6 -
4 —
2 —
0 t-1• —
General Fund Public Works Social Human Capital Other Govt.
Services Services Projects Funds
The County's budget is prepared according to Colorado statutes. The most significant budgeted
fund is the General Fund.
In December of 2006, the Board of County Commissioners appropriated $70.3 million for general
fund expenditures and other financing uses.
21
Table 3
2006 General Fund Budget
(in Millions)
Original Budget Amendments Final Budget Actual
Revenue and other financing sources $ 65.9 $ 3.2 $ 69.1 $ 73.1
Expenditures and other financing uses $ 70.3 $ 5.1 $ 75.4 $ 76.6
During 2007 mid-year budget amendments included:
• $2.2 million in transfers and fund balance for jail expansion project
• $1.0 million transferred to Emergency Reserve Fund to meet TABOR requirement
• $0.5million carry over re-appropriation for election equipment
• $0.5 million for jail overtime
• $0.337 million for inmate medical costs
• Reduced Public Health Department subsidy by $0.5 million
• $0.537 million for Motor Pool equipment from Energy Impact Grant
• $1.1 million for Upstate Colorado Economic Development grant.
• Supplementals were made for all departments with vehicles for increased fuel costs.
The increase was possible because of additional unanticipated revenues. Those revenues include
oil and gas mineral leasing ($.5 million), interest earnings ($1.7 million), and severance tax ($.3
million).
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets. Weld County's investment in capital assets for its governmental and business type
activities as of December 31, 2007 totals $250.2 million (net of accumulated depreciation). This
investment includes all land, buildings, machinery, equipment, and infrastructure. The total
increase in investment in capital assets for the current fiscal year was 4%.
Major capital asset events during the current fiscal year including the following:
• Road construction or major improvements totaling $10.8 million.
• Completed Southeast Weld Building $.97 million
• Completed the construction of a 375 bed jail expansion at an estimated cost of$18 million
• Began construction of the Jail Alternative Building of$4.0 million
• Completed the new building and Grounds Headquarters at a cost of$.76 million
• Completed an additional Social Services Building parking lot $.5 million.
22
The County implemented the "depreciation method" under GASB 34 for its road and bridge
infrastructure assets, except for the gravel roads, where the "modified approach"was used. The
County's policy is to maintain gravel roads at a condition of fair or better. This level of condition is
being maintained consistently on over 98% of miles of road.
Additional information on the County's capital assets can be found in Note 6 of this report.
Construction commitments are discussed in Note 12.
Long-term Debt. At December 31, 2007, Weld County had no outstanding long-term debt or debt
from Certificates of Participation (COP). The last COP was paid off early on August 1, 2007.
The Weld County Home Rule Charter provides for a general obligation debt limit of 3%of assessed
valuation. The county had a general obligation debt capacity of$126 million in 2007. The county
currently has no debt subject to the limitation. No new debt was issued in 2007.
Additional information on Weld County's debt can be found in Note 9.
Other Matters. The following factors are expected to have a significant effect on the County's
financial position or results of operations and were taken into account in developing the 2007
budget.
• Complete construction of Phase III of the North Jail.
• Recruit and train staff to open Phase III of the North Jail.
• Increased traffic enforcement in Weld County to reduce traffic fatalities.
• Cope with the continued growth and development in the County.
• Began the project to remodel and open four additional courtrooms.
• Reorganized Code Enforcement and Animal Control into one unit.
• Identify technology uses to improve services and cost-effectiveness of services.
• Enhance public relations and communication efforts with constituents.
• Started updating the Weld County Comprehensive Plan.
• Continued implementation of e-government strategy.
• Continued to explore revenue and operational options to keep the Paramedic Services a
viable and affordable service to the citizens.
• Enhanced and expanded services in the Southeast Weld Service Center.
• Continue implementation of CBMS system in Social Services.
23
• Contracted to construct Weld County Road 13 from Weld County Road 8 to 5th Street in
Frederick.
• Continued to develop plans for the County for bioterrorism and emergency
preparedness.
• Coped with growing inmate population.
• Funded cost of post-employment benefit for retirees' health program.
• Implemented the five-year Support Healthy Marriages Grant.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of Weld County's finances for all
those with an interest in the government's finances. Questions concerning any of the information
provided in this or for additional financial information should be addressed to the Director of Finance
and Administration, 915 101h Street, Greeley, CO 80631.
24
BASIC
FINANCIAL
STATEMENTS
tiOiciftt
"IDe
COLORADO
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
December 31, 2007
Primary Government Component Units
Governmental Business-type Housing E-911
Activities Activities Total Authority Authority
ASSETS
Cash and cash equivalents $ 64,075,271 $ 62,975 $ 64,138,246 $ 1,234,020 $ 3,576,494
Property taxes receivable 74,928,695 - 74,928,695 - -
Receivables(net of allowance for
uncollectibles) 3,520,048 2,691,114 6,211,162 821,392 -
Due from other governments 2,511,238 - 2,511,238 - -
Internal balance 174,050 (174,050) - - -
Inventories 1,799,186 - 1,799,186 - -
Other assets 26,298 - 26,298 1,800 -
Restricted assets:
Cash and cash equivalents 4,073,022 - 4,073,022 580,164 -
Capital Assets Not Depreciated 36,950,726 48,496 36,999,222 - -
Capital Assets-Net of Accumulated Depreciation 212,286,597 938,949 213,225,546 14,471 647,449
Total assets 400,345,131 3,567,484 403,912,615 2,651,847 4,223,943
LIABILITIES
Accounts payable and other current liabilities 12,388,377 84,561 12,472,938 92,124 31,023
Accrued liabilities 3,795,981 304,025 4,100,006 1,522 -
Unearned revenue 80,030,032 - 80,030,032 9,069 -
Other liabilities 130,081 - 130,081 - -
Long-term liabilities:
Due within one year:
Compensated absences 112,669 - 112,669 9,352 -
Due in more than one year:
Compensated absences 2,244,574 - 2,244,574 24,672 -
Net Pension Obligation 1,546,159 - 1,546,159 - -
Total liabilities 100,247,873 388,586 100,636,459 136,739 31,023
NET ASSETS
Invested in capital assets,net of related debt 249,237,323 987,445 250,224,768 14,471 647,449
Restricted for:
Programs 3,988,022 - 3,988,022 580,164 -
Emergencies 5,000,000 - 5,000,000 - -
Claims(Note 7) 1,748,951 - 1,748,951 - -
Unrestricted 40,122,962 2,191,453 42,314,415 1,920,473 3,545,471
Total net assets $ 300,097,258 $ 3,178,898 $ 303,276,156 $ 2,515,108 $ 4,192,920
See accompanying notes to the basic financial statements
25
COUNTY OF WELD
STATE OF COLORADO
Statement of Activities
Year Ended December 31, 2007
Program Revenues
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
Primary government:
Governmental activities:
General government $ 35,301,327 $ 10,043,033 $ 1,304,098 $ 5,507
Public safety 36,717,165 4,998,285 3,998,913 4,733,120
Streets and highways 34,637,731 3,566,774 13,213,852 -
Health and welfare 31,026,419 17,504,660 4,149,621 -
Culture and recreation 1,008,703 453,352 423,260 -
Economic assistance 14,403,662 838,871 13,410,553 -
Interest on long-term debt 335,771 - - -
Total governmental activities 153,430,778 37,404,975 36,500,297 4,738,627
Business-type activities:
Paramedic service 8,444,840 8.532,227 120,728 -
Total primary government $ 161,875,618 $ 45,937,202 $ 36,621.025 $ 4.738,627
Component units:
Housing Authority $ 2,768,595 $ 16,552 $ 3,167,816 $ -
E-911 Authority 912,144 1,569,668 - -
Total component units $ 3,680.739 $ 1,586,220 $ 3,167,816 $ -
GENERAL REVENUES
Taxes:
Property taxes
Specific Ownership
Other
Unrestricted investment earnings
Total general revenues
Change in net assets
Net assets-beginning
Net assets-ending
See accompanying notes to the basic financial statements
26
Net(Expenses)Revenues and
Changes in Net Assets
Primary Government Component Units
Governmental Business-type Housing E-911
Activities Activities Total Authority Authority
$ (23,948,689) $ - $ (23,948,689) $ - $ -
(22,986,847) - (22,986,847) - -
(17,857,105) - (17,857,105) - -
(9,372,138) - (9,372,138) - -
(132,091) - (132,091) - -
(154,238) - (154,238) - -
(335,771) - (335,771) - -
(74,786,879) - (74.786,879) - -
- 208,115 208,115 - -
$ (74,786,879) $ 208,115 $ (74,578,764) $ - $ -
$ - $ - $ - $ 415,773 $ -
- - - - 657,524
$ - $ - $ - $ 415,773 $ 657,524
67,215,993 - 67,215,993 - -
7,056,071 - 7,056,071 - -
3,546,134 - 3,546,134 - -
5.191,430 - 5,191.430 12,306 -
83,009,628 - 83,009,628 12,306 -
8,222,749 208,115 8,430,864 428,079 657,524
291.874,509 2.970,783 294,845.292 2,087,029 3,535,396
$ 300,097,258 $ 3,178.898 $ 303.276,156 $ 2.515,108 $ 4,192,920
27
COUNTY OF WELD
STATE OF COLORADO
Governmental Funds
Balance Sheet
December 31, 2007
Public Works Social Services
General Fund Fund Fund
ASSETS
Cash and short-term investments $ 14,716,783 $ 21,071,909 $ 5,292,732
Receivables (net of allowance for uncollectibles):
Current property taxes 52,263,964 7,335,311 5,759,592
Delinquent property taxes 65,896 9,496 7,986
Accounts 2,506,982 478 58,124
Special assessment - 65,205 -
Due from other County funds 467,727 241,441 -
Due from other governments 216,647 - 1,479,706
-
Advances to other funds 585,000 -
Inventories 152,759 1,269,554 -
-
Other assets 25,013 -
Total Assets $ 71,000,771 $ 29,993,394 $ 12,598,140
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ 8,260,361 $ 416,400 $ 351,053
Accrued liabilities 1,512,894 340,651 127,769
Other liabilities - - 130,081
Due to other County funds 113,057 276,632 815,914
Deferred revenue 52,601,534 7,422,767 8,824,646
Unexpended grant revenue 424,180 - -
Total Liabilities 62,912,026 8,456,450 10,249,463
Fund Balances:
Reserved for encumbrances 318,445 3,075,254 -
Reserved for advances to other funds 585,000 - -
Reserved for other assets 25,013 - -
Reserved for inventories 152,759 1,269,554 -
Reserved for emergency - - -
Unreserved:
General Fund 7,007,528 - -
Special Revenue Funds - 17,192,136 2,348,677
Capital Project Fund - - -
Total Fund Balances 8,088,745 21,536,944 2,348,677
Total Liabilities and Fund Balances $ 71,000,771 $ 29,993,394 $ 12,598,140
See accompanying notes to the basic financial statements
28
Capital Other Total
Human Services Expenditures Governmental Governmental
Fund Fund Funds Funds
$ 151,581 $ 5,431,945 $ 12,523,721 $ 59,188,671
5,983,984 1,994,661 73,337,512
- 7,355 3,034 93,767
40,371 - 668,934 3,274,889
- - - 65,205
699,022 - - 1,408,190
814,885 - - 2,511,238
- - - 585,000
301,579 - - 1,723,892
400 - 885 26,298
$ 2,007,838 $ 11,423,284 $ 15,191,235 $ 142,214,662
$ 231,983 $ 2,421,240 $ 99,098 $ 11,780,135
607,151 - 222,352 2,810,817
- - - 130,081
59,766 - 212,139 1,477,508
356,328 6,007,355 2,066,121 77,278,751
84,961 - - 509,141
1,340,189 8,428,595 2,599,710 93,986,433
5,000 2,721,899 1,712 6,122,310
- -
585,000
400 - 885 26,298
- - -
1,422,313
-
5,000,000 5,000,000
- - - 7,007,528
662,249 - 7,588,928 27,791,990
- 272,790 - 272,790
667,649 2,994,689 12,591,525 48,228,229
$ 2,007,838 $ 11,423,284 $ 15,191,235 $ 142,214,662
29
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of Total Governmental Fund Balances To Statement of Net Assets
December 31, 2007
Total governmental fund balances $ 48,228,229
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 234,872,025
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 (2,357,243)
Net Pension Obligation (1,546,159)
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 21,357,231
Internal services used by Enterprise Fund (456,825)
Net assets of governmental activities $ 300,097,258
See accompanying notes to the basic financial statements
30
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
Year Ended December 31, 2007
Public Works Social
General Fund Fund Services Fund
REVENUES:
Taxes $ 46,428,111 $ 14,074,897 $ 5,616,950
Licenses and permits 1,621,396 508,335 -
Intergovernmental 6,299,391 14,073,959 16,137,119
Fines and forfeitures 406,762 - -
Charges for services 3,500,152 1,217,651 -
Miscellaneous 7,479,167 1,250,763 -
Fees 7,303,131 612,352 -
Total Revenues 73,038,110 31,737,957 21,754,069
EXPENDITURES:
Current:
General government 32,605,930 - -
Public Safety 35,328,953 - -
Public Works 2,207,902 29,590,855 -
Public health and welfare 1,251,550 - 22,390,375
Culture and recreation 614,644 - -
Economic assistance - - -
Capital outlay 712,432 - 86,675
Debt Service 335,771 - -
Total Expenditures 73,057,182 29,590,855 22,477,050
Excess of Revenues Over(Under) Expenditures (19,072) 2,147,102 (722,981)
Other Financing Sources (Uses):
Transfers - in 81,892 - -
Transfers -out 3,550,741 - -
Total Other Financing Sources (Uses) (3,468,849) - -
Net Changes in Fund Balance (3,487,921) 2,147,102 (722,981)
Fund Balances at Beginning of Year 11,576,666 19,389,842 3,071,658
Fund Balance at End of Year $ 8,088,745 $ 21,536,944 $ 2,348,677
See accompanying notes to the basic financial statements
32
Capital Other Total
Human Expenditures Governmental Governmental
Services Fund Fund Funds Funds
$ - $ 5,888,458 $ 2,619,215 $ 74,627,631
- -
-
2,129,731
13,399,703 400,000 3,575,851 53,886,023
-
9,906 416,668
638,310 - 2,444,018 7,800,131
211,411 551,467 74,899 9,567,707
146,104 - 8,061,587
14,249,424 6,986,029 8,723,889 156,489,478
- - - 32,605,930
- -
617,003 35,945,956
- - - 31,798,757
- -
7,298,716 30,940,641
- -
396,667 1,011,311
14,449,197 - - 14,449,197
6,627 16,221,887 22,971 17,050,592
- - - 335,771
14,455,824 16,221,887 8,335,357 164,138,155
(206,400) (9,235,858) 388,532 (7,648,677)
12,351 500,000 3,745,767 4,340,010
- - 789,269 4,340,010
12,351 500,000 2,956,498 -
(194,049) (8,735,858) 3,345,030 (7,648,677)
861,698 11,730,547 9,246,495 55,876,906
$ 667,649 $ 2,994,689 $ 12,591,525 $ 48,228,229
33
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Governmental Funds to the Statement of Activities
Year Ended December 31, 2007
Net changes in fund balances-total governmental funds $ (7,648,677)
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the
statement of activities the cost of those assets is allocated over their estimated
useful lives and reported as depreciation expense. This is the amount by which
capital outlays exceeded depreciation in the current period.
Capital asset additions 32,576,275
Depreciation expense (18,194,594)
Excess of depreciation over capital outlay 14,381,681
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 (278,530)
Net Pension Obligation (1,546,159)
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. 3,449,037
Internal services used by Enterprise Funds (134,603)
Change in assets of governmental activities $ 8,222,749
See accompanying notes to the basic financial statements
34
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Assets
Proprietary Funds
December 31,2007
Business-type Governmental
Activity Activities
Paramedic
Enterprise Internal
Fund Service Funds
ASSETS
Cash and short-term investments $ 62,975 $ 8,959,622
Property taxes receivable - 1,497,416
Receivables(net of allowance for uncollectibles):
Accounts 2,691,114 179,954
Due from other County funds 15 371,525
Inventory - 75,294
Total Current Assets 2,754,104 11,083,811
Capital Assets:
Land 48,496 -
Improvements other than buildings 55,728 485,897
Buildings 710,305 1,800,977
Machinery and equipment 962,920 30,075,262
Accumulated depreciation (790,004) (17,996,838)
Total Capital Assets 987,445 14,365,298
Total Assets 3,741,549 25,449,109
LIABILITIES AND FUND EQUITY
Current Liabilities:
Accounts payable 84,561 608,242
Accrued liabilities 304,025 985,164
Due to other County funds 45,890 256,332
Deferred revenue - 2,242,140
Advances from general fund 585,000 -
Total Current Liabilities 1,019,476 4,091,878
Total liabilities 1,019,476 4,091,878
Net Assets
Invested in capital assets, net of related debt 987,445 14,365,298
Restricted for:
Workers'compensation - 676,511
Unrestricted 1,734,628 6,315,422
Total net assets $ 2,722,073 $ 21,357,231
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. 456,825
Net assets of business-type activities $ 3,178,898
See accompanying notes to the basic financial statements
35
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenue, Expenses and
Changes in Net Assets
Proprietary Funds
For the fiscal year ended December 31,2007
Business-type Governmental
Activity Activities
Paramedic
Enterprise Internal
Fund Service Funds
Operating revenues:
Contributions $ - $ 8,821,434
Charges for services 8,519,367 8,282,110
Total operating revenues 8,519,367 17,103,544
Operating expenses:
Bad debt expense 3,328,501 -
Personnel services 3,873,871 142,033
Supplies 404,848 2,391,696
Purchased services 654,121 3,200,299
Insurance and bonds - 585,331
Depreciation 209,580 2,821,058
Other 108,522 105,001
Claims - 8,988,608
Total operating expenses 8,579,443 18,234,026
Operating income(loss) (60,076) (1,130,482)
Nonoperating revenues(expenses):
Taxes - 1,254,012
Miscellaneous 100 5,925,821
Interest income - 100,622
Fees 10,290 -
Federal grant 43,200 54,511
State Grant 77,528 1,500,000
Gain (loss) on disposition of assets 2,470 (4,591,824)
Judgements and damages - 91,755
Interest expense - (352,793)
Total nonoperating revenues (expenses) 133,588 3,982,104
Income(loss) before contributions or transfers 73,512 2,851,622
Capital contributions - 597,415
Changes in net assets 73,512 3,449,037
Total net assets beginning of year 2,648,561 17,908,194
Total net assets at end of year $2,722,073 $ 21,357,231
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. 134,603
Change in net assets of business-type activities $ 208,115
See accompanying notes to the basic financial statements
36
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Proprietary Funds
For the fiscal year ended December 31,2007
Business-type Governmental
Activity Activites
Enterprise Fund Internal
Paramedic Services Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers $ 5,233,243 $ 722,693
Cash flows from internal customers - 16,338,769
Cash payments to external suppliers for goods and services (937,347) (14,312,584)
Cash payments to internal suppliers for goods and services (478,249) (241,383)
Cash payments to employees for services (3,715,845) (325,696)
Judgements/damages/losses - 107,481
Miscellaneous revenues - 50
Net cash provided(used)by operating activities 101 802 2,289 330
CASHFLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes - 1,254,012
Grants/Other 133.587 5.925.771.
Net cash provided by noncapital financing activities 133.587 7 179 78
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (344,319) (2,989,175)
Principal paid on long-term debt - (5,590,000)
Interest paid - (352,793)
Writeoff of remaining discount - 16,460
Proceeds from sale of capital assets - 484,415
Grants - 1.554.511
Net cash provided(used)for capital and related
Financing activities (344 3191 (6,876 5871
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments - 100 677
Net Increase(decrease)in Cash and Cash Equivalents (108,930) 2,693,153
Cash and Cash Equivalents at Beginning of Year 171 905 6 266 469
Cash and Cash Equivalents at End of Year B 62 97@ $ 6 959 622
Reconciliation of operating income to net cash
provided(used)by operating activities:
Operating income(loss) $ (60,076) $ (1,130,482)
Adjustments to reconcile operating income to
net cash provided(used)by operating activities:
Depreciation expense 209,580 2,821,058
Judgements/damages/losses - 91,755
Miscellaneous revenue - 50
Change in assets and liabilities
(Increase)decrease in accounts receivable (171,870) (321,901)
(Increase)decrease in due from other funds 46,521 (142,584)
(Increase)decrease in inventories - (56,086)
(Increase)decrease in other assets 5,210 15,292
Increase(decrease)in accounts payable 51,349 281,710
Increase(decrease)in accrued liabilities 21,088 159,412
Increase(decrease)in other liabilities - 244,475
Increase(dedrease)in deferred revenue - 326 633
Total adjustments 161 878 3 419 814
Net cash provided by operating activities $ 1M 802 $ 7 789 337
Noncash investing,capital,and financing activities:
Contributions of capital assets from(to)government $ 124,428
Capital asset trade-ins 18,315
See Accompanying notes to the basic financial statements
37
COUNTY OF WELD
STATE OF COLORADO
Statement of Fiduciary Net Assets
Fiduciary Funds
December 31, 2007
Weld County
Other Post
Agency Weld County Employment
Funds Retirement Plan Benefits
ASSETS
Cash and cash equivalents $4,664,118 $ - $ -
Accounts Receivables
(net of allowances for uncollectables): 56 16,059 171,092
Restricted assets
Cash - 1,696,934 678,119
Common Stock - 83,807,904 -
US Property Fund - 46,901,480 -
Total assets $4,664,174 $ 132,422,377 $ 849,211
LIABILITIES AND NET ASSETS
Accounts payable $ 135,243 $ 169,778 $ -
Due to other governments 4,528,931 - -
Total Liabilities $4,664,174 $ 169,778 $ -
NET ASSETS
Held in trust for pension benefits
and other purposes $ 132,252,599 $ 849,211
See accompanying notes to the basic financial statements
38
COUNTY OF WELD
STATE OF COLORADO
Statement of Changes in Fiduciary Net Assets
Fiduciary Funds
For the fiscal year ended December 31, 2007
Weld County
Other Post
Retirement Employment
Plan Benefits
Additions:
Employer contributions $ 3,804,640 $ 1,304,815
Employee contributions 3,804,640 203,064
Earnings on investments 9,822,561 Net appreciation in fair market value of investments 948,830 -
Total Additions 18,380,671 1,507,879
Deductions:
Actuarial/Trustee fees 109,085 -
Benefit payments 7,874,865 658,668
Supplies 9,000 -
Total Deductions 7,992,950 658,668
Change in net assets 10,387,721 849,211
Net assets- beginning 121,864,878 Net assets-ending $ 132,252,599 $ 849,211
See accompanying notes to the basic financial statements
39
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Note 1 - Summary of Significant Accounting Policies:
The County of Weld, Colorado ("County") was established in 1861, and on
January 1, 1976, became a home rule county under the provisions of
Section 30-35-501, CRS, 1973. The County operates under an elected
commissioner form of government. The County provides the full range of
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.
The financial statements of the County have been prepared in conformity
with generally accepted accounting principles (GAAP) as applied to
governmental units. The following summary of significant accounting
policies is presented to assist the reader in evaluating the County' s
financial statements.
A. Reporting Entity:
Weld County is a political subdivision of the State of Colorado, governed
by an elected five-member Board of County Commissioners. There are also
four other elected officials of Weld County (Assessor, Clerk and
Recorder, District Attorney, and Sheriff) .
The accompanying financial statements present the government and its
component units, entities for which the government is considered to be
financially accountable. Blended component units, although legally
separate entities, are, in substance, part of the government' s
operations. 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 Weld County Housing Authority is responsible for assisting Weld
County residents with housing assistance. The Board of County
Commissioners appoints all of the five-member Housing Authority Board.
The County has the ability to remove any of the appointed board members,
they can modify decisions made by the board and can hire or fire persons
responsible for the day to day operations. The Weld 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 Assembly in 1989.
The E911 Emergency Telephone Service Authority Board was created 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
is responsible for administering the operations of the 911 emergency
40
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
telephone service program in Weld County. The authority board consists
of seven members with four selected by the Weld County Commissioners, one
member each is selected by the City of Greeley, City of Fort Lupton and
Weld County Sheriff. Under the by-laws of E911 Authority, Weld County is
required to pay all operating costs. They are to maintain all accounts
and have accounts audited. State statute requires that all funds be
maintained by the Weld County Treasurer. The operation of the E911
authority is done contractually by the Weld County Communication Regional
Center.
Complete financial statements for each of the individual component units
may be obtained at the entity' s administrative offices:
Weld County Housing Authority
903 6th Street
Greeley, CO 80631
E911 Emergency Telephone Service Authority
1950 O Street
Greeley, CO 80631
Because they provide services to or otherwise benefit Weld County, the
financial statements of the following organizations are blended into the
County financial statements:
Weld County Retirement Plan - The Retirement Board consists of five
members, two selected by participating employees, two appointed by
the Board of County Commissioners, and the fifth being the County
Treasurer. The County funds half of the retirement plan, which
covers substantially all permanent, full-time employees of Weld
County. The operation of the plan is accounted for in the Weld
County Retirement Fund, as a Pension Trust Fund.
Weld County Finance Corporation - The Weld County Finance
Corporation ("Corporation") was formed in 1987 as a not-for-profit
corporation under section 501 (c) (4)of the Internal Revenue Code, and
exists solely to acquire real estate and construct buildings for
lease to the County. The Board of County Commissioners appoints the
three-member Board of Directors of the Corporation, and approves all
projects undertaken by the Corporation. The members of the Board of
Directors are employees of the County.
The Beebe Draw Law Enforcement Authority (LEA) was formed by the
electors of the LEA on December 3, 1985, in accordance with Section
30-11-401, CRS. The law enforcement authority is a taxing unit
created by the county to provide additional law enforcement service
by the county sheriff to residents in a developed unincorporated
area of the county. The governing board of the law enforcement
authority is the five Weld County Commissioners sitting as the
governing board of the authority. Law enforcement services to the
authority are provided contractually by the county sheriff.
41
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
The Local Improvement Districts (LID) have not been included in the
County' s financial statements individually, as they are immaterial,
but are included as a blended component unit of Public Works, a
special revenue fund. The Board of County Commissioners 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
the improvement. The LID exists only as geographic area within
which improvements are constructed and as an administrative
subdivision of the county. Having no board of directors, they do
not operate in any capacity as an independent governmental entity.
The county governing board, Board of County Commissioners, makes all
decisions on behalf of this administrative entity.
The following related organizations are excluded from the accompanying
financial statements because the County' s accountability for these
organizations does not extend beyond various appointments.
North Colorado Medical Center - The Board of County Commissioners
owns land underlying the main facility of the Medical Center, which
land is currently leased to the Colorado Hospital Finance Authority
as part of the security for financing the bonded indebtedness of the
Medical Center. The indebtedness is not an obligation of the Board
of County Commissioners and no taxpayer funds or Board of County
Commissioners funds are obligated to pay any portion of the
principal, premium or interest on the Bonds. The land is leased
back from the Authority to the Board of Trustees, a seven member
Hospital Board of Trustees appointed by the Board of County
Commissioners. The Hospital Board of Trustees has entered into an
operating sublease of the ground and facilities with NCMC, Inc. , a
501 (c) (3) entity, with three of its members also serving on the Board
of Trustees, which, in turn, has contracted with Banner Health
Systems to operate the Medical Center. NCMC has the ability to
incur its own debt and its operations are financed totally by
patient revenues.
Greeley-Weld Airport Authority - The County Commissioners appoint
two of the five Airport Authority Board members. The County has
contributed approximately 5% of the funds for capital construction.
The Authority has full autonomy under Colorado State law, can incur
debt, and funds it operations totally from user fees.
Weld Library District - The County Commissioners, together with the
concurrence of the city councils of seven participating
municipalities, appoint the seven-member Library District Board.
The Library District Board has total autonomy under the State
Library Act to incur debt, establish budgets, and levy property
taxes to support the District' s library system.
Colorado Counties Casualty and Property Pool (hereinafter referred
to as "CAPP" - CAPP was formed July 1, 1986, by an intergovernmental
42
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
agreement by member counties as a separate and independent
governmental and legal entity pursuant to the provisions of Article
XIV, Section 18 (2) of the Colorado Constitution and Section 29-1-201
et seq, 24-10-115.5, and 29-13-102, CRS, as amended. Each member
county in this intergovernmental agreement has the power under
Colorado law to make provision for the property and casualty
coverage which constitute the functions and services jointly
provided by means of the CAPP. The Insurance Commissioner of the
State of Colorado has such authority with respect to the CAPP as is
provided by applicable Colorado statutes.
The purposes of the CAPP are to provide a risk management fund for
defined property and casualty coverage and to assist members in
controlling costs by providing specialized governmental risk
management services and systems.
It is the intent of the members to use member contributions to
defend and indemnify, in accordance with the bylaws, any member
against states liability or loss to the limit of the financial
resources of the risk management fund. It is also the intent of the
members to have CAPP provide needed coverage at reasonable costs.
All income and assets of CAPP shall be at all times dedicated to the
exclusive benefit of its members. Weld County, through its
Insurance Internal Service Fund, recognizes an expense for the
amount paid to CAPP annually for these coverages.
Weld County is a charter member of CAPP and has been a continuous
member since July 1, 1986.
B. Government-wide Financial Statements:
The County' s basic financial statements consist of government-wide
statements, including a statement of net assets and a statement of
activities, and fund financial statements which provide a more detailed
level of financial information. The government-wide focus is more on the
sustainability 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
information about the county as a whole. In the government-wide
statement of net assets, both the governmental and business-type
activities columns are presented on a consolidated basis by column.
These statements include the financial activities of the primary
government, except for fiduciary activities. For the most part, the
effect of interfund activity has been removed from these statements.
Governmental activities, which normally are supported by taxes
and intergovernmental revenues, are reported separately from business-
type activities, which rely to a significant extent on fees and charges
for support.
43
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
The government-wide statement of activities reflect both the direct
expenses and net cost of each function of the County' s governmental
activities and business-like 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. Grants and contributions that are restricted to meeting
the operational or capital requirements of a particular program and
interest earned on grants that is required to be used to support a
particular program are included in operating grants and contributions, or
capital grants and contributions. Revenues which are not classified as
program revenues are presented as general revenues of the County, with
certain limited exceptions. The comparison of direct expenses with
program revenues identifies the extent to which each government function
or business segment is self-financing or draws from the general revenues
of the County.
Fund Financial Statements
The financial transactions of the County are recorded in individual
funds. A fund is defined as a fiscal and accounting entity with a self-
balancing set of accounts that comprise its assets, liabilities, fund
equity, revenues, and expenditures or expenses, as appropriate. Separate
statements for each fund category - governmental, proprietary, and
fiduciary - are presented. The emphasis of fund financial statements is
on major governmental and enterprise funds, each displayed in a separate
column. All remaining governmental and enterprise funds are aggregated
and presented as non-major funds.
Proprietary funds distinguish operating revenues and expenses from
nonoperating items. Operating revenues and expenses generally result
from providing services and producing and delivering goods in connection
with a proprietary fund' s principal ongoing operations. The principal
operating revenues of the Paramedic enterprise fund and of the
government' s internal service funds are charges to customers for sales
and services. Operating expenses for enterprise funds and internal
service funds include the cost of sales and services, administrative
expenses, and depreciation on capital assets. All revenues and expenses
not meeting this definition are reported as nonoperating revenues and
expenses.
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 accounting, as are
the proprietary fund and fiduciary fund statements. Revenues are
recorded when earned and expenses are recorded at the time liabilities
are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the County gives (or receives) value
44
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
without directly receiving (or giving) equal value in exchange, include
property taxes, grants, and donations. Revenues from property taxes are
recognized in the fiscal year for which the taxes are levied. Revenue
from grants and donations is recognized in the fiscal year in which all
eligibility requirements have been satisfied.
Under the terms of grant agreements, the County funds certain programs by
a combination of specific cost-reimbursement grants, categorical block
grants, and general revenues. Thus, when program expenses are incurred,
there are both restricted and unrestricted net assets available to
finance the program. It is the County' s policy to first apply cost-
reimbursement grant resources to such programs, followed by categorical
block grants, and then by general revenues.
Governmental fund financial statements are reported using the current
financial resources measurement focus and the modified accrual basis of
accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are
collectible within the current period or soon enough thereafter to pay
liabilities of the current period. For this purpose, the government
considers revenues to be available if they are collected within 60 days
of the end of the current fiscal period. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting.
However expenditures related to compensated absences and claims and
judgments, are recorded only when payment is due.
Property taxes, licenses, and interest associated with the current fiscal
period are all considered to be susceptible to accrual and so have been
recognized as revenues of the current fiscal period. Only the portion of
special assessments receivable due within the current fiscal period is
considered to be susceptible to accrual as revenue of the current period.
All other revenue items are considered to be measurable and available
only when cash is received by the government.
All governmental and business-type activities and enterprise funds of the
County follow only PASS Statements and Interpretations issued on or
before, not after, November 30, 1989, Accounting Principles Board
Opinions, and Accounting Research Bulletins, unless those pronouncements
conflict with GASB pronouncements.
The County reports the following major 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
other funds. Operations of the County such as public safety,
planning and zoning, property valuation, tax collection and
distribution, vehicle licensing, County administration, and other
activities financed from taxes and general revenues are reflected in
this fund.
45
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
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 administers human services programs under
state and federal regulations. Programs include, but are not
limited to, Medicaid, Food Stamps, Foster Care programs, and
Temporary Assistance to Needy Families (TANF) . Colorado counties
are required by state law to maintain a Social Services Fund.
The Human Services Fund primary programs are associated with the
Workforce Investment Act (WIA) funded under the Department of Labor,
Employment and Training Administration. They also administer all
the Head Start programs.
The Capital Expenditures Fund accounts for all the County' s
construction projects. The County chooses to use the pay as you go
plan instead of debt. Property taxes are used to fund the Law
Enforcement Center and the expansion of the Detention Center.
The County reports the following major enterprise fund:
The Paramedic Fund operates the paramedic services for the County,
which is primarily funded by revenues for services rendered.
46
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
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 departments
or agencies of the County on a cost reimbursement basis. The
County' s internal service funds report on self-insurance programs
for employee health, dental and vision benefits, risk management,
unemployment, fleet services, telecommunications and acquisitions of
real estate and construction of buildings used by County
departments.
Services provided and used by internal services funds are not
entirely eliminated from the government-wide statement of
activities. The primary government program expenses and expenses
for the business activities on the government-wide statement of
activities are decreased to eliminate revenue over expenditures in
service funds where revenues exceed expenditures and increased to
eliminate internal service funds that have expenditures in excess of
revenues.
The Agency Funds account for assets held by the County as an agent
for individuals, private organizations and other governments. These
funds are custodial in nature (assets equal liabilities) and do not
involve measurement of results of operations. The County has funds
held for other local governmental units, employee/employer payroll
taxes and a Section 125 plan.
The Fiduciary Trust Funds account for the activities of the Weld
County Retirement Plan and the Weld County Other Post employment
Benefit Plans. These funds accumulate resources for pension
benefit, and other post employment benefit payments to qualified
county employees. The Plans use the accrual basis of accounting.
Employee and employer contributions are recognized as revenues in
the period in which the contributions are due. Benefits and refunds
are recognized when due and payable in accordance with terms of the
Plan.
D. Assets, liabilities, and net assets or equity
1. Deposits and investments
The Weld County Treasurer maintains a cash and investment pool that is
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 receivable is displayed separately. The amount of
interest gained through secured investments is credited to the County' s
General Fund per Colorado State Statutes, with the exception of the
Conservation Trust, Capital Expenditures Fund, Liability Insurance Fund
and E-911 Authority. "Cash and cash equivalents" for the General Fund
Conservation Trust, Capital Expenditures Fund, Liability Insurance Fund
and E-911 Authority are stated at fair value. Any bank accounts not
maintained by the Treasurer are displayed as "Restricted Assets" within
the appropriate fund and are stated at cost.
47
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
The County considers 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 time without
prior notice or penalty, equity in the pool is also deemed to be a cash
equivalent.
2. Property Taxes:
Property taxes attach as an enforceable lien on property as of January 1.
Taxes were levied on December 19, 2007, and are payable either in two
installments due on February 28 and June 15 or in full on April 30. The
bill becomes delinquent on March 1, May 1, and June 16 and penalties and
interest may be assessed by the County. The County, through the Weld
County Treasurer, bills and collects its own property taxes, as well as
property taxes of all other taxing authorities within the County. In
accordance with Section 14-7 of the Weld County Home 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 to
prohibit the levying of a greater amount of tax revenue than was levied
from ad valorem taxation in the preceding year plus five percent (5%) ,
except to provide for the payment of bonds and interest. The Board of
County Commissioners may submit the question of an increased levy to the
County Council and, if in the opinion of a majority of the County Council
may grant an increased levy for the County in such amount as it deems
appropriate, and the County is authorized to make such increased levy.
Any one capital project requiring a capital expenditure out of funds
procured by ad valorem taxation equal to a three mill levy for three
years, shall be prohibited unless approved by a majority vote of the
qualified electors at a general or special election per Section 14-8 of
the Weld County Home Rule Charter.
3. Interfund Transactions
Transactions between funds that would be treated as revenues,
expenditures, or expenses if they involved organizations external to the
County are accounted for as revenues, expenditures, or expenses in the
funds involved. Transactions which constitute reimbursements of a fund
for expenditures or expenses initially made from that fund which are
properly applicable to another fund are recorded as expenditures or
expenses in the reimbursing fund and as reductions of the expenditure or
expense in the fund that is reimbursed. At year end, outstanding
balances between funds are reported as "due to/from other funds".
Interfund balances are generally expected to be repaid within one year of
the financial statement date. Any residual balances outstanding between
the governmental activities and business-type activities are reported in
the government-wide financial statements as "internal balances".
48
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
4. Inventories and Prepaid Items
Inventories of governmental funds, which consist of expendable materials
held for consumption, are stated at cost utilizing the weighted average
cost method. These funds follow the consumption method of accounting
whereby expenditures are recorded at the time the inventory items are
used.
Inventories of proprietary funds are recorded at average cost.
Certain payments to vendors reflect cost applicable to future accounting
periods and are recorded as prepaid items in both government-wide and
fund financial statements.
The reserve for emergencies as required by Section 20 to Article X of the
Colorado Constitution, also known as the Taxpayer's Bill of Rights
(TABOR) is classified as restricted assets on the balance sheet.
5. Capital Assets
Capital assets, which include property, plant equipment, and
infrastructure assets (e.g. , roads, bridges and similar items) , are
reported in the applicable governmental or business-type activities
columns in the government-wide financial statements. Capital assets are
defined by the County as assets with an initial, individual cost of more
than $5, 000 and a useful life of more than one year. All capital assets
are valued at historical cost or estimated historical cost if actual
historical cost is not available. Donated capital assets are recorded at
estimated 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 extend assets' lives are not capitalized.
All reported capital assets, except for gravel roads are depreciated.
Improvements are depreciated over the remaining useful lives of the
related capital assets. Depreciation on all assets is provided on the
straight-line basis over the following estimated useful lives:
Buildings 20-50 years
Improvements 20 years
Infrastructure - Bridges 50 years
Infrastructure - Roads 20 years
Equipment 3-5 years
Heavy Equipment 10-20 years
Statement 34 allows an alternative approach which would reflect a
reasonable value of the asset and the cost incurred to maintain the
service potential to locally established minimum standards in lieu of
depreciation. To elect this option, the County must develop and
implement an asset management system which measures, at least every third
year by class of asset, if the minimum standards are being maintained.
Related disclosures are additionally required as part of the Required
Supplementary Information. The County has elected to use the alternative
approach only for gravel roads.
49
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
6. Compensated Absences
County employees accumulate sick leave and vacation benefits at rates of
8 hours per month and 8 to 16 hours per month, respectively, depending on
length of service. In the event of retirement or termination, an
employee is paid 100% of accumulated vacation pay. An employee whose
date of hire is prior to January 1, 1985, is paid for 50% of accumulated
sick leave hours up to the equivalent of one month; if the employee' s
date of hire is after January 1, 1985, no sick leave is paid upon
retirement or termination. Up to 320 hours of annual vacation may be
carried over from one year to the next. Compensatory time is granted
(except for official, professional, and administrative positions) at the
rate of one and one-half hours for each overtime hour worked, not to be
accumulated in excess of forty hours.
The unpaid sick leave, vacation pay and related benefits at the end of
the period will generally not be paid with expendable and available
resources. Proprietary funds accrue sick leave, vacation pay and related
benefits in the period they are earned by the employees.
The entire compensated absence liability is reported on the government-
wide financial statements.
7. Long-term obligations
In the government-wide financial statements and proprietary fund types in
the fund financial statements, long-term debt and other long-term
obligations are reported as liabilities in the applicable governmental
activities, business-type activities, or proprietary fund type statement
of net assets.
8. Fund Equity
In the fund financial statements, governmental funds report reservations
of fund balance for amounts that are not available for appropriation or
are legally restricted by outside parties for use for a specific purpose.
Designations of fund balance represent tentative management plans that
are subject to change.
Reserves for the County of Weld are recorded up to the maximum equity
available in fund balance and consist of:
Reserved for Encumbrances:
These reserves are established to record purchase orders and
commitments outstanding for which the related goods/services have
not been received at year end. The reserves recorded at December
31, 2007, include $318, 445, $3, 081, 966, and $2, 721, 899 for the
General Fund, Special Revenue Funds, and Capital Expenditures Funds,
respectively, for a total of $6, 122, 310.
Reserved for Other Assets:
These reserves are established to record all prepaid items.
Recorded reserves at December 31, 2007, are $25, 013 and $1,285 for
the General Fund and Special Revenue Funds respectively, for a total
of $26,298.
50
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Reserved for Inventories:
These reserves are established to record the total level of supply
inventories. Recorded reserves at December 31, 2007, are $152, 759
and $1, 269, 554 for General Fund and Special Revenue Funds
respectively, for a total of $1, 422, 313.
Reserved for Advances:
These reserves are established to record the total advance between
funds. Reserve at December 31, 2007, is $585, 000, all recorded in
General Fund.
Designated Fund Balance:
Fund balance designated for subsequent year's expenditures
represents fund balance commitments for appropriated expenditures in
excess of anticipated revenue for the year ended December 31, 2007 .
9. Net Assets
Net assets represent the difference between assets and liabilities. Net
assets invested in capital assets, net of related debt consists of
capital assets, net of accumulated depreciation, reduced by the
outstanding balances of any borrowing used for the acquisition
construction of improvements of those assets. Net assets are reported as
restricted when there are limitations imposed on their use either through
the enabling legislation adopted by the County or through external
restrictions imposed by creditors, grantors, laws or regulations of other
governments.
The County first applied restricted resources when an expense is incurred
for purposes for which both restricted and unrestricted net assets are
available.
10. Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the amounts reported in the financial statements
and accompanying notes. Actual results may differ from those estimates.
Note 2 - Stewardship, Compliance, and Accountability
A. Budgetary information
An annual budget and appropriation ordinance is adopted by the Board of
County Commissioners in accordance with the Colorado State Budget Act and
Weld County Home Rule Charter. The budget is prepared on a basis
consistent with generally accepted accounting principles. Budgets are
established for all Governmental funds, Internal Service funds and the
Enterprise Fund. The accounting system is employed as a budgetary
management control device during the year to monitor the individual
departments. The fund level is the level of classification at which
expenditures may not legally exceed appropriations, except for the
General Fund where the department level of expenditures cannot legally
exceed appropriations. During the year, several supplemental
appropriations were necessary. All annual appropriations lapse at year
end.
51
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
The Director of Finance and Administration is authorized to transfer
budgeted amounts within departments of each fund. Any revisions that
alter the total appropriation for a fund or for any General Fund
department must be approved by the County Commissioners through a
supplemental appropriation ordinance. During 2007, two supplemental
appropriation ordinances were enacted. Budget amounts reported in the
accompanying financial statements reflect these supplemental
appropriations.
B. Excess of expenditures over appropriations
Excesses of expenditures over appropriations in General Fund departments
can be seen by unfavorable variances in the expenditures section of the
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget
and Actual.
Solid Waste Fund (Special Revenue Fund) had excess of expenditures over
appropriations. These can be seen on the Statement of Revenue,
Expenditure and Changes in Fund Balance - Budget and Actual. Revenue
were down due to the annexation of a landfill in 2007. 2008 Expenditures
will be adjusted to compensate for the decreased revenues.
Conservation Trust Fund (Special Revenue Fund) had excess of expenditures
over appropriations. These can be seen on the Statement of Revenue,
Expenditure and Changes in Fund Balance - Budget and Actual. Additional
expenditures to cover the cost of the park were funded by revenues.
Expenditures exceeded appropriations in the Paramedic Fund (Enterprise
Fund) . The over expenditures were funded greater than anticipated
revenue, and will be corrected in the 2008.
Motor Pool Fund (Internal Service Fund) had excess expenditures over
appropriations. These over expenditures were funded by greater than
expected revenue, and will be corrected in 2008.
Note 3 - Equity in Pooled Cash and Investments:
A. Cash and Investments
Cash and investments at December 31, 2007, consisted of the following:
Deposits $15, 417, 437
CDs 6, 280,271
Investments 57, 735, 563
Total $79, 433,271
Cash and investments at December 31, 2007 reported in government-wide and
agency funds consisted of the following:
Government-wide $75, 294, 452
Agency funds 3, 808, 127
Total $79, 102, 579
52
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
B. Deposits
The Colorado Public Deposit Protection Act (PDPA) requires that all local
governments deposit cash in eligible public depositories. Eligibility is
determined by state regulations. The State regulatory commissioners
regulate the eligible public depositories. Amounts on deposit in excess
of federal insurance levels must be collateralized by eligible collateral
as determined by the PDPA. PDPA allows the financial institutions to
create a single collateral pool for all public funds held. The pool is to
be maintained by another institution, or held in trust for all the
uninsured public deposits as a group. The market value of the collateral
must be at least equal to 102% of the uninsured deposits. At December 31,
2007, the County had deposits of $21, 697, 263 collateralized with
securities held by the financial institutions' agents but not in the
County name.
C. Investments
The County is required to comply with State statutes which specify
investment instruments meeting defined rating, maturity, custodial and
concentration risk criteria in which local governments may invest
including:
• Obligations of the United States and certain U.S. Agency securities
• Certain international agency securities
• General obligation and revenue bonds of U.S. local government entities
• Banker' s acceptance of certain banks
• Commercial paper
• Written repurchase agreements collateralized by certain authorized
securities
• Certain money market funds
• Guaranteed investment contracts
• Local government investment pools
The County has no provisions in its investment policy that would further
limit investment choices. At December 31, 2007, the County had the
following investments:
Investment Maturities (in Years)
1 or less $10, 968,230
1 -2 yrs. 11, 569, 913
3 - 5 yrs. 35, 197, 420
$57, 735, 563
Money Market $15, 417, 437
Total $73, 153, 000
53
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
D. Credit Risk
State statutes limit investments in U.S. Agency securities to the highest
rating issued by nationally recognized statistical rating organizations
(NRSROs) . At December 31, 2007, the County investments in the Federal
Home Loan Bank, Federal Home Loan Mortgage Corporation, Federal National
Mortgage Association, and Federal Farm Credit Bank were rated AAA by
Standard & Poor's.
E. Concentration of Credit Risk
State statute does not limit the amount the County may invest in one
issuer. At December 31, 2007, the County's investments in Federal
National Mortgage Association, Federal Home Loan Bank, and Federal Farm
Credit Bank and Federal Home Mortgage represented 11%, 53%, 2% and 25%,
respectively of the County' s total investments.
F. Interest Rate Risk
State Statutes limit the maximum maturity date unless an exception is
made by the county commissioners, which does not exist at the present
time, to five years. The average duration in the portfolio on December
31, 2007 was 3. 6 years. This factor combined with the high quality credit
risk of the portfolio limit interest rate risk to a very small percentage
of the portfolio. In fact, at year end the average mark-to-the-market
was within one percent of the county' s basis.
G. Local Government Investment Pool
The County had $15, 417, 437 invested in overnight pooled money with Wells
Fargo on December 31, 2007 . The County' s investment in at Wells Fargo is
a direct obligation of the bank and the funds are maintained in a money
market account earning a negotiated rate if return. The collateral for
this account is in an undivided interest against a pool of U.S.
Government securities meeting the PDPA requirements of the State of
Colorado, which is administered under the State' s Banking Division. The
Fair value of all of the funds shares are the same and are priced at one
dollar and are liquid daily. A designated custodial bank provides
safekeeping and depository services in connection with the direct
investment and withdrawal functions. Substantially all securities owned
are held by the Federal Reserve Bank in the account maintained for the
custodial bank. The custodian' s internal records identify the investments
owned by the participating governments.
54
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Note 4 - Interfund Transactions
Due to/from other funds:
The county reports interfund balances between many of its funds. Some of
the balances are considered immaterial and are aggregated into a single
column or row. The sum of all balances presented in the table agrees
with the sum of interfund balances presented in the balance sheet for
governmental and proprietary funds. The balances resulted from the time
lag between the dates that (1) interfund goods and services are provided
or reimbursable expenditures occur, (2) transactions are recorded in the
accounting system, and (3) payments between funds are made. Interfund
balances are generally expected to be repaid within one year of the
financial statement date.
Receivable Fund Payable Fund
General Public Works $ 48, 975
Social Services 192, 706
Human Services 32, 991
Non-Major Governmental 111, 663
Enterprise Fund 34, 556
Internal Service Fund 10, 469
Public Works General 200
Social Services 131, 416
Non-Major Governmental 97, 096
Internal Service Fund 12, 729
Human Services General 8, 412
Social Services 466, 820
Internal Service Fund 223, 336
Enterprise Fund General 15
Internal Service General 68, 062
Public Works 227, 657
Social Services 24, 972
Human Services 26, 320
Non-Major Governmental 3, 381
Enterprise Fund 11, 334
$1, 733, 110
55
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Advances from/to other funds:
The balance of $585, 000 advances to Paramedic Fund for the General
Fund resulted from general operating needs with the decrease of
Medicaid reimbursement for services.
Receivable Fund Payable Fund
Amount
General Fund Enterprise Fund - Paramedic $ 585, 000
Transfers in/out:
Transfers are indicative of funding for capital projects or subsidies of
various County operations and re-allocation of special revenues. The
following schedule briefly summarizes the County' s transfer activity:
Transfers In
General Human Non-Major
Fund Services Capital Governmental Total
Transfers Out:
General Fund $ 00 $ 12,351 $ 500,000 $3,038,390 $3,550,741
Non-Major 81,892 00 00 $ 707,377 $ 789,269
Total $ 81,892 $ 12,351 $ 500,000 $3,745,767 $4,340,010
The County also had noncash transfers. Contribution of capital assets
from (to) government: Internal Service Funds ($4, 738, 627) .
Note 5 - Allowance for Uncollectible Accounts Receivable:
The allowance for uncollectible receivables consists of the following
at December 31, 2007 :
Allowance for
Fund Type Uncollectible
General $ 17, 353
Public Works 2, 525
Special Revenue 2, 840
Capital Expenditures 2, 079
Enterprise 577, 191
Internal Service 371
Total $ 602, 359
56
COUNTY OF WELD
STATE OF COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31,2007
Note 6-Capital Assets:
Capital asset activity for the year ended December 31,2007,was as follows:
Beginning Ending
Balance Increases Decreases Transfers Balance
Governmental activites
Capital Assets not being depreciated
Land and water rights $ 8,114,783 $ 151,124 $ - $ - $ 8,265,907
Gravel Roads 7,453,707 672,000 138,216 - 7,987,491
Construction in progress 8,570.899 12 126 429 - - 20,697.328
Total capital assets not being depreciated 24,139 389 12 949 553 138.216 - 36 950 726
Capital assets being depredated:
Buildings 79,217,919 3,919,832 33,519 - 83,104,232
Improvements 6,976,964 105,688 - - 7,082,652
Equipment 40,412,081 4,205,830 2,528,104 (22,311) 42,067,496
Infrastructure 284 555,579 13.093.523 10 038.736 - 287.610,366
Total capital assets being depreciated 411.162,543 21,324.873 12,600 359 (22.3111 419.864.746
Less accumulated depreciation
Buildings 21,768,824 1,856,248 24,756 - 23,600,316
Improvements 1,734,788 255,901 - - 1,990,689
Equipment 22,839,135 3,781,087 2,271,652 (22,311) 24,326,259
Infrastructure 149.759,365 13,379 464 5.477,944 - 157,660,885
Total accumulated depreciation 196.102 112 19.272.700 7.774,352 (22,3111 207,578.149
Total capital assets being depreciated,net 215,060.431 2.052.173 4 826 007 - 212 286 597
Governmental activities capital assets, net $ 239 199 82Q R 15 001 726 R 4 964 721 $ - R 249 217 121
Business-type activities:
Capital Assets not being depreciated
Land $ 48,496 $ - $ - $ - $ 48,496
Capital assets being depreciated:
Buildings 656,305 54,000 - - 710,305
Improvements 55,728 - - - 55,728
Equipment 865,002 308.634 233.027 22,311 962.920
Total capital assets being depreciated 1.577,035 362 634 233,027 22,311 1,728,953
Less accumulated depreciation
Buildings 311,250 23,141 - - 334,391
Improvements 43,151 3,427 - - 46,578
Equipment 418.425 183.012 214.713 22,311 409,035
Total accumulated depreciation 772 826 209,580 214.713 22,311 790.004
Total capital assets being depreciated,net 804,209 153,054 18,314 - 938,949
Business-type activities capital assets, net $ 852 705 $ 153.054 $ 18 314 $ - $ 987 445
57
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Depreciation expense was charged to functions/programs of the primary
government as follows:
Governmental activities:
General government $ 1, 376, 228
Public safety 1, 162, 179
Streets and highways 13, 570, 466
Economic assistance 106, 781
Culture and recreation 12, 830
Health and welfare 223, 158
Capital Assets held by government' s internal
service funds are charged to the various
functions based on their usage of the assets 2, 821, 058
Total depreciation expense-governmental activities $ 19, 272, 700
Business-type activities
Paramedic Service $ 209, 580
Note 7 - Risk management and insurance:
The County is exposed to various risks of loss related to torts; theft
of, damage to, or destruction of assets; and errors or omissions. (See
Note 11) These activities are accounted for in the Insurance Fund, an
internal service fund. A liability for a claim is established if
information indicates that it is probable that a liability has been
incurred at the date of the financial statements and the amount of the
loss is reasonably estimable.
Insurance coverages have not been significantly reduced from prior years
and settlements have not exceeded insurance coverage in the past three
years.
The County manages risks of loss through a combination of commercial
insurance, participation in a public entity risk pool, (See Note 1) and
self-insurance. These activities are accounted for in the Insurance
Fund, an internal service fund.
The County provides health, dental and vision insurance benefits to
employees, which are funded by employee and employer contributions.
These activities are accounted for in the Health Insurance Fund, an
internal service fund.
58
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Workers' Compensation coverage is partially self-insured, with insurance
coverage of a $450, 000 self-insured retention. Estimated liabilities for
claims made and claims incurred but not reported (IBNR) at year-end are
shown as accrued liabilities in the fund. These estimates are based upon
a third-party administrator' s review of claims and actuarial projections
from historical claims data. Changes in the balances of claims
liabilities during the current and prior years are as follows:
2006 2007
Unpaid Claims - Beginning $ 706,681 $ 690,396
Incurred Claims (Includes IBNR'S) 597,661 804,444
Claims Paid (613,946) (612,310)
Unpaid Claims - Ending $ 690.396 $ 882.530
The Insurance Internal Service Fund provides protection against losses
involving County property, equipment, and liability. Reserves within the
fund support higher deductible or self-insured retention level against
loss. Payments to CCAPP for coverage under the insurance pool are shown
as expenses in the Insurance Internal Service Fund. Estimated
liabilities under the $125, 000 self-insured retention for claims made and
claims incurred but not reported (IBNR) at year-end are shown as accrued
liabilities in the fund. These estimates are based upon CAPP' s claim
administrator' s review of claims and actuarial projection from historical
claims data. Changes in the balances of claims liabilities under the
$125, 000 self-insured retention during current and prior years are as
follows:
2006 2007
Unpaid Claims - Beginning $ 83,692 $ 120,486
Incurred Claims (Includes IBNR's) 196,896 155,746
Claims Paid (160,102) (191,623)
Unpaid Claims - Ending $ 120,486 $ 84,609
The Health Insurance Internal Service Fund covers the county's dental and
vision reimbursement plan. The plan is not an insurance program, but
rather an employee reimbursement plan that closes out each year on
December 31, for services received on or before that date. No
outstanding claims or incurred but not reported liabilities exist for
year-end. The health insurance plan is fully insured.
In addition the Health Insurance Internal Service Fund as of January 1,
2005, covers the county' s health insurance program. The plan is a self-
funded employee health benefit plan with a specific deductible amount of
$100, 000 per individual, and an aggregate excess loss insurance policy
59
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
that has both a monthly attachment point and an annual cumulative
attachment limit with a terminal attachment point. Attachment points are
calculated based upon enrollment. The premiums fully fund the cumulative
and terminal attachment points, so there is no unfunded liability for the
program at any time. The plan is on a claims paid basis, which means
there are not any outstanding claims or incurred but not reported
liabilities at year end. In no event shall the expense incurral period
extend beyond the date the policy expires.
Note 8 - Operating Leases:
The reporting entity has entered into a number of operating leases which
contain cancellation provisions and are subject to annual appropriations.
For the reporting period, rent payments approximated $507,234 for all
types of leases. These expenditures were made primarily from the
General, Public Works and Social Services Funds.
Note 9 - Long-Term Debt:
At December 31, 2007 Weld County had no outstanding long-term debt or
debt from Certificates of Participation(COP) . The COP Series 1997 was
paid off early on August 1, 2007.
Weld County has no general bonded indebtedness. In accordance with
Section 30-35-201 CRS, 1973, the County' s general bonded indebtedness is
limited to 3% of the assessed valuation, or $134, 053, 874 at December 31,
2007.
The County has issued 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 private
enterprise assumes full responsibility for repayment of the debt, and the
County is released from any liability for repayment. Industrial revenue
bonds outstanding as of December 31, 2007 totaled $15, 696, 964 .
Changes in long-term liabilities
Long-term liability activity for the year ended December 31, 2007, was as
follows:
Beginning Ending Due Within
Balance Additions Reductions Balance One Year
Governmental activities:
Certificates of participation $ 5,590,000 $ 0 $5,590,000 $ 00 $ 00
Compensated absences
General Fund 1,170,928 136,412 11,252 1,296,088 47,620
Public Works 378,853 63,615 0 442,468 26,113
Social Services 392,759 46,143 0 439,502 27,437
Public Health 136,173 43,012 0 179,185 11,499
Total governmental 4 7.664.711 4 9 9.792 4 5,60',752 $ 2.357 '43 $ 117.669
60
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Note 10 - Weld County Retirement Plan:
Plan Description:
The Weld County Retirement Plan (Plan) is a single-employer, defined
benefit pension plan administered by a five-member retirement 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 available financial report that includes financial
statements and required supplementary information. That report may be
obtained by contacting the County of Weld, State of Colorado.
Funding Policy:
The contribution requirements of plan members and the County are
established and maintained by the Board of Commissioners. Plan members
are required to contribute 8% of their annual covered payroll. The
County is required to contribute at an actuarially determined rate; the
current rate is 8% of annual covered payroll.
Annual Pension Cost and Net Pension Obligation:
The County's annual pension cost and net pension obligation to the Plan
the current year were:
Annual Required Contributions $ 4,408,097
Interest on net pension obligation 11,754
Annual Pension Cost 4,477,927
Contributions made 3,804,640
Increase in net pension obligation 673,287
Net pension obligation (asset) beginning of year 872,872
Net pension obligation (asset) end of year $ 1,546,159
The annual required contribution for the current year was determined as
part of the January 1, 2007 actuarial valuation using the entry age
actuarial cost method. The actuarial assumptions included (a) 8%
investment rate of return (net of administrative expenses) and (b)
projected salary increases ranging from 5.3% to 8.5% per year. Both (a)
and (b) included an inflation component of 3.5%. The actuarial value of
assets was determined using techniques that smooth the effects of short-
term volatility in the market value of investments over a five-year
period. The unfunded actuarial liability is being amortized as a level
percentage of projected payroll on a closed basis. The remaining
amortization period at January 1, 2007, was 30 years.
61
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Three-Year Trend Information:
Fiscal Year Annual Percentage of Net Pension
Ended Pension APC Contributed Obligation
Cost (APC) (Asset)
December 31, 2005 3,184,753 87.3% (146,922)
December 31, 2006 4,225,104 75.9% 872,872
December 31, 2007 4,477,927 85.0% 1,546,159
Note 11 - Other Post Employment Benefits:
Plan Description:
Weld County Other Post Employment Benefits Plan (OPEB Plan) is a single-
employer defined benefit healthcare plan administered by Weld County that
provides medical, dental, and vision insurance benefits to eligible
retirees and their spouses. The OPEB Plan was created by a Board of Weld
County Commissioners resolution on November 30, 1998, and amended
December 16, 2002 and September 21, 2005. The OPEB Plan provides the same
health, dental, and vision plan as offered Weld County employees and at
the same cost. The program is not part of the Weld County Retirement Plan
and is not a vested benefit or right, but it is a plan that can be
amended or stopped at any time by the Board of Weld County Commissioners
for any reason. The program is only available to Weld County employees
hired prior to October 1, 2005. From December 16, 1998, to December 31,
2008, a retiree who retires from employment with Weld County after ten
years of service, or was an elected official of Weld County for at least
one full four year term, who has attained the age of 55 years and is
drawing benefits from the Weld County Retirement Plan is eligible to
continue health, dental, and vision coverage until age 65. After January
1, 2009, an employee must 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 must have attained age 62 and have 20
years of service to be eligible, unless the employee attains age 55 and
has 30 years experience or has attained age 55 and has served as a Weld
County elected official for two full terms. Coverage ends in all cases
at age 65.
Funding Policy:
The contribution requirements of plan members and Weld County are
established and may be amended by the Board of Weld County Commissioners
annually. The required contribution is based on projected pay-as-you-go
financing requirements, with an additional amount to prefund benefits as
determined by an actuarial report done bi-annually. For fiscal year 2007,
the county contributed $1,298, 539 to the plan, including $449, 328 for
current premiums (approximately 68 percent of total premiums) and an
additional $849, 211 to prefund benefits. Plan members receiving benefits
contributed $209, 340, or approximately 32 percent of the total premiums,
through their required contribution ranging between $126 to $163 per
month for retiree-only coverage and between $369 to $443 for retiree and
spouse coverage. The OPEB Plan assets are deposited in the Weld County
OPEB Plan Trust Fund. The employer' s contributions to the trust fund are
62
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
irrevocable, the assets of the trust are dedicated to providing benefits
to retirees and their beneficiaries, and the assets are legally protected
form the employer' s creditors.
Annual OPEB Cost and OPEB Obligation:
Prior to January 1, 2007, the OPEB Plan was funded on a pay as you go
basis. Beginning January 1, 2007, the county' s annual other post
employment benefit (OPEB) cost (expense) is calculated based on the
annual required contribution of the employer (ARC) , an amount actuarially
determined in accordance with the parameters of GASB Statement 45. The
ARC represents a level of funding that, if paid on an ongoing basis, is
projected to cover normal cost each year and amortize any unfunded
actuarial liabilities (or funding excess) over a period not to exceed
thirty years. The primary assumption for the ARC calculation is the 7.5%
discount rate. The actuarial assumptions included an annual healthcare
cost trend rate of 11% initially, reduced by decrements to an ultimate
rate of 5% after 6 years. Liabilities are computed using the projected
unit credit method. The unfunded actuarial accrued liability was
amortized over a closed 25 year period. The following shows the
components of the county' s annual OPEB cost for the year, the amount
actually contributed to the plan, and changes in the county' s net OPEB
obligation to Weld County:
Benefit Obligation and Normal Cost on January 1, 2007
Actuarial Accrued Liability
Retired Employees $ 5,040,523
Active Employees 8,553,564
Total $ 13,594,087
Unfunded actuarial accrued liability (UAAL) $ 13,594,087
Normal cost beginning of year $ 248,227
Amortized factor based on 25 years 11.983
Level Dollar Amortization
Calculation on ARC under Projected Unit Credit Method on January 1, 2007
Amortization of UAAL over 25 years $ 1,134,451
Normal cost at beginning of year 268,227
Interest 105,201
2007 Gross Annual Required Contribution (ARC) 1,507,879
Employee Contributions (203,064)
2007 Net County ARC 1,304,615
County Contribution (1,304,815)
Increased in net OPEB obligation -
Unfunded actuarial accrued liability (UAAL) beginning of the year $13, 594, 087
63
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Covered Participants as of January 1, 2007
Active Employees 775
Retired Employees 70
Spouses of Retired Employees 21
866
Three-Year Trend Information:
Annual Required Percentage of Net OPEB
Fiscal Year End Contribution (ARC) ARC Contributed Obligation
December 31, 2007 $ 1, 304, 815 100% $ -
Prior to January 1, 2007, the OPEB Plan was on a pay as you go funding
basis. January 1, 2007, was the first time an actuarial accrued liability
was calculated to determine the net OPEB obligation. The OPEB obligation
as of January 1, 2007 was $13, 594, 087, there were no assets on January 1,
2007 to calculate an actuarial value of plan assets.
Funded Status and Funding Progress. The funded status of the plan as of
December 31, 2007, was as follows:
Actuarial Accrued Liability (AAL) $ 13,594,087
Actuarial value of plan assets -
Unfunded actuarial accrued liability (UAAL) $ 13,594,087
Funded ratio (actuarial value of plan assets/AAL) 0.0%
Covered payroll (active plan members) $ 44,210,417
UAAL as percentage of covered payroll 30.7%
Actuarial valuations involve estimates of the value of reported amounts
and assumptions about the probability of events far into the future, and
actuarially determined amounts are subject to continual revision as
actual results are compared to past expectations and new estimates are
made about the future.
The required schedule of funding progress presents multiyear trend
information about whether the actuarial value of assets is increasing or
decreasing over time relative to the actuarial accrued liability for
benefits.
The actuarial calculations are based on the types of benefits provided
under the terms of the substantive plan at the time of each valuation and
on the pattern of sharing of costs between the employer and members to
that point and reflect a long-term perspective.
The Weld County OPEB Plan Assets are accounted for in the Weld County
OPEB Plan Trust Fund. A IRC Section 115 Trust is being established for
the Weld County OPEB Plan Trust and IRS approval is pending.
64
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Note 12 - Commitments and Contingencies:
Commitments
At year-end there were projects under construction with commitments of
$2, 721, 899 including $2, 502, 950 for the Alternative Programs building,
$54, 660 for the Jail Phase III, $9, 310 for the Court Services Phase III,
$50, 446 for the Buildings and Grounds administration building and
$104, 533 for the parking lot at the south Social Services building.
Colorado voters passed an amendment to the State Constitution, Article X,
Section 20, which has several limitations, including revenue raising,
spending abilities, and other specific requirements of state and local
governments. The Amendment is complex and subject to judicial
interpretation. The entity believes it is in compliance with the
requirements of the amendment. However, the entity has made certain
interpretations of the amendment' s language in other to determine its
compliance.
The County participates in a number of federal and state grant programs.
Principal funding agencies include Department of Labor, Community
Services Administration, Department of Health and Human Services,
Department of Housing and Urban Development, Economic Development Agency,
and Area Agency on Aging. These programs are subject to program
compliance audits by the grantors or their representatives. The amount,
if any, of expenditures which may be disallowed by the granting agencies
cannot be determined at this time, although the County expects such
amounts, if any, to be immaterial.
65
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Note 13 - Public Trustee:
Pursuant to an act of the Colorado General Assembly, the Weld County
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, 2007
Assets $1, 545, 319
Liabilities 3, 722
Fund Balance 1, 541, 597
Additions 1, 608, 702
Deductions 1, 572, 105
The Public Trustee started a retirement plan in December 2003. The plan
is a defined contribution plan under Internal Revenue Code section
401 (K) . Funding levels are set at the following:
2005 7% Employer/Employee
2006 71. % Employer/Employee
2007 8% Employer/Employee
2008 8'.%o Employer/Employee
66
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2007
Note 14—Non-Cash Activity in Social Services Fund
Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures
For the Year Ended December 31, 2007
A B C D E
County EBT
Total Refunds and Authorizations plus
Expenditures by Expenditures by Total Expenditures
County EBT County Share of County Warrant County Warrant
Program Authorizations Authorizations or Accrual (Col.A+Col.C) (Col. B+Col. C)
3,780,165 10,120 148,272 3,928,437 158,392
Old Age Pension
1,526,080 134,706 1,660,786 134,706
Low-Income Energy 0
Assistance Program
1,384,430 210,785 2,580,394 3,964,824 2,791,179
Temporary Assistance for
Needy Families
0 0 5,636,753 5,636,753 5,636,753
Administration
10,577,946 1,841,797 8,009,064 18,587,010 9,850,861
Trails/Child Welfare
1,255,517 151,046 94,431 1,349,948 245,477
Core Services
690,301 110,402 (59,593) 630,708 50,809
Aid to the Needy Disabled
2,509,298 2,509,298 2,509,298
IV-D Administration 0 0
3,061,824 375,622 643,533 3,705,357 1,019,155
CHATS/Child Care
135,564 135,564 135,564
General Assistance 0 0
22,276,263 2,699,772 19,832,422 42,108,685 22,532,194
Subtotal
13.247.138 (55,144) 13,191,994 (55,144)
Food Assistance 0
35,523,401 2,699,772 19,777,278 55,300,679 22,477,050
Grand Total
A. Welfare payment authorized by the Weld County Department of Social Services. These County authorizations are paid
by the Colorado Department of Human Services by Quest debit cards or by electronic benefits transfer(EBT)
B. County share of EBT authorizations. These amounts are settled monthly by a reduction of State cash advances to the
County.
C. Expenditures made by county warrants or other county payment methods.
D. This represents the total cost of the welfare programs that are administered by Weld County.
E. This total matches the expenditures on the Social Services Fund—Statement of Revenues, Expenditures and Changes in
Fund Balances.
67
Required Supplementary Information
Other Than MD&A
on
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2007
Schedule of Funding Progress
Actuarial Actuarial Actuarial Unfunded Runde Covered UAAL as a
Valuation Value of Accrued AAL (UAAL) d Payroll (c) Percentag
Date Assets Liability (b-a) Ratio e of
(a) (AAL) (a/b) Covered
Entry Age Payroll
(b) [b-a)/c]
1/1/01 $ 81,331,388 $ 84,625,354 $ 3,293,966 96.1% $30,909,895 10.7%
1/1/02 $ 87,357,656 $ 93,322,664 $ 5,965,008 93.6% $33,405,430 17.9%
1/1/03 $ 87,140,219 $100,581,108 $13,440,889 86.6% $36,205,613 37.1%
1/1/04 $ 94,496,804 $112,901,278 $18,404,474 83.7% $36,498,310 50.4%
1/1/05 $ 98,604,182 $120,956,120 $22,351,938 81.5% $38,496,866 58.1%
1/1/06 $103,979,296 $136,792,785 $32,813,489 76.0% $41,529,717 79.0%
1/1/07 $112,874,087 $150,145,842 $37,271,755 75.2% $44,210,410 84.3%
Schedule of Employer Contributions
Annual
Year Ended Required Actual Percentage
December 31 Contribution") Contribution Contributed
2000 $1, 199, 689 $1, 814, 318 151.2%
2001 $1, 591, 067 $1, 925, 094 121.0%
2002 $1, 986, 145 $2, 094, 969 105. 5%
2003 $2, 734, 414 $2, 182, 671 79. 8%
2004 $3, 125, 337 $2, 234, 518 71. 5%
2005 S4, 236, 858 $2, 779, 636 86. 1%
2006 $4, 236, 858 $3, 205, 310 65. 6%
2007 $4, 408, 097 $3, 840, 640 87. 1%
')Required contribution at beginning of year.
69
COUNTY OF WELD
STATE OF COLORADO
Required Supplementary Information
Modified Approach for Infrastructure Assets
Weld County prepares an annual gravel road plan. In doing this each of the sections of gravel roads has been evaluated
by supervisors. They use the State guidelines as out lined in Section 43-2-120(5)(a-b), C.R.S. 1973, which is stated
below. Since gravel roads condition can change quickly based on weather conditions the road plan may have to be
modified to take care of such problems. Therefore,an official road maintenance system is difficult to put in place. It is
the County's policy to maintain the roads in fair or better condition.
2007
Condition Miles of Road %of Total
Good 1,698.51 71.95%
Fair 617.61 26.16%
Poor 44.53 1.89%
Comparison of Estimated-to-Actual Maintenance/Preservation
2004 2005 2006 2007 2008
Estimated $ 1,643,167 $ 1,800,000 $ 1,861,200 $ 3,328,512 $ 2,666,172
Actual $ 1,785,000 $ 2,910,000 $ 1,804,000 $ 1,892,000
Gravel Roads- Surface Condition Rating Criteria
Section 43-2-120(5)(a-b),C.R.S. 1973,gives the following guidelines pertaining to the condition criteria on gravel
roads.
Good Surface Condition
$ There is adequate width for safe passage of large vehicles.
$ Graded to a uniform cross-section,having a crown and ditches to provide good drainage.
$ The surface is smooth with no washboards,rutting or soft areas;vehicles can safely travel at the posted
speed limit.
S 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.
S During periods of wet weather,puddles develop;the road is slippery but will support normal traffic.
Poor Surface Condition
S Two cars cannot safely pass.
$ Cross-section varies. There is no crown or ditches,and water does not drain from the road.
$ The surface has washboards,ruts,soft areas; vehicles must slow to less than the speed limit.
$ Gravel is sparse or does not exist.
$ During periods of wet weather,cars cannot safely travel.
70
Required Supplementary Information
Other Than MD&A
on
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
REVENUES
Taxes:
General property taxes 48,245,705 48,245,705 48,259,700 13,995
Severance tax 25,000 263,700 262,841 (859)
Tobacco products 85,000 85,000 109,680 24,680
Penalties & interest - - 83,786 83,786
Property tax adjustment (2,287,896) (2,287,896) (2,287,896) -
Total Taxes 46,067,809 46,306,509 46,428,111 121,602
Licenses and Permits
Liquor licenses 5,000 5,000 5,383 383
Planning permits 1,000,000 1,000,000 730,685 (269,315)
Building permits 900,000 900,000 689,638 (210,362)
Electrical permits 130,000 130,000 195,690 65,690
Total Licenses and Permits 2,035,000 2,035,000 1,621,396 (413,604)
Intergovernmental:
Federal grants - 44,877 851,728 806,851
Payment in lieu of taxes 4,000 4,000 1,750 (2,250)
State grants 3,008,305 3,483,205 5,137,098 1,653,893
Other governmental units 29,890 29,890 129,248 99,358
Cities and towns 261,000 211,000 179,567 (31,433)
Total Intergovernmental 3,303,195 3,772,972 6,299,391 2,526,419
Charges for Service:
Plan checking fees 350,000 350,000 250,895 (99,105)
Charges for services 2,432,339 2,869,339 3,077,424 208,085
Sale of supplies 108,400 108,400 145,396 36,996
Parking 31,000 31,000 26,437 (4,563)
Total Charges for Services 2,921,739 3,358,739 3,500,152 141,413
Fines and Forfeitures:
Property forfeitures/evidence 2,500 2,500 274,759 272,259
Fines (drunk drivers) 149,000 179,000 132,003 (46,997)
Total Fines and Forfeitures 151,500 181,500 406,762 225,262
Miscellaneous:
Miscellaneous 1,203,464 1,252,310 2,032,375 780,065
Interest 2,750,000 3,830,000 4,498,591 668,591
Rents from buildings 136,918 136,918 122,651 (14,267)
Royalties 300,000 570,000 825,550 255,550
Total Miscellaneous 4,390,382 5,789,228 7,479,167 1,689,939
71
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances- Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
REVENUES (CONTINUED)
Fees:
Fee account 6,827,000 7,409,000 7,199,470 (209,530)
Treasurer's fees 58,000 58,000 50,191 (7,809)
Cable fees 45,000 60,000 53,470 (6,530)
Total Fees 6,930,000 7,527,000 7,303,131 (223,869)
Total Revenues 65,799,625 68,970,948 73,038,110 4,067,162
EXPENDITURES
General Government:
Office of the Board 617,827 677,327 656,956 20,371
County Attorney 714,695 738,695 688,264 50,431
Public Trustee 7,000 7,000 - 7,000
Planning and zoning 1,635,291 1,687,291 1,687,157 134
Clerk to the Board 254,121 291,121 287,420 3,701
County Clerk 792,712 905,712 785,292 120,420
Elections and registration 1,059,946 946,946 927,856 19,090
Motor vehicle 1,546,771 1,546,771 1,537,435 9,336
County Treasurer 799,051 919,351 914,402 4,949
County Assessor 2,418,714 2,505,714 2,526,576 (20,862)
Maintenance of buildings/grounds 3,964,343 4,551,343 4,276,445 274,898
County Council 28,746 28,746 19,707 9,039
District Attorney 4,291,027 4,314,027 4,173,809 140,218
Juvenile Diversion Grant 146,444 161,644 162,473 (829)
Juvenile Assessment Center - 44,877 59,934 (15,057)
Victim Assistance 433,174 469,174 1,128,964 (659,790)
White Collar Crime 13,000 25,800 11,523 14,277
DUI - 13,600 4,031 9,569
MYAT- Probation - 42,000 40,496 1,504
Interagency Oversight Group - - 143 (143)
Financial administration 297,377 322,377 308,266 14,111
General accounting 512,967 636,967 640,642 (3,675)
Purchasing 130,169 134,669 134,453 216
Personnel 632,468 854,468 851,562 2,906
Geographical Information Systems 294,118 197,118 123,059 74,059
Capital - - 15,174 (15,174)
Computer Services 2,010,034 3,060,034 3,219,303 (159,269)
Printing and Supply 279,057 344,557 301,213 43,344
Total General Government 22,879,052 25,427,329 25,482,555 (55,226)
(CONTINUED)
72
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2007
Budget- GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED)
Public Safety
Sheriff administration 1,398,410 1,462,410 1,496,646 (34,236)
Crime control and investigations 6,347,584 6,659,584 7,040,759 (381,175)
Traffic control 1,096,328 1,247,974 1,123,170 124,804
Municipal Service Contracts - - 30,171 (30,171)
Task force 169,615 169,615 128,619 40,996
Regional forensic laboratory 219,114 187,614 149,281 38,333
Communications services 1,918,290 1,918,290 1,856,091 62,199
Communication system development - 5,000 5,754 (754)
E-911 administration 700 700 159 541
Criminal justice 839,148 879,148 738,160 140,988
County Coroner 568,512 584,012 625,366 (41,354)
Correctional administration 16,204,744 15,889,744 16,374,416 (484,672)
Community correction 2,375,343 2,375,343 2,341,874 33,469
Building inspection 1,281,232 1,631,232 1,550,381 80,851
Office of emergency management 119,354 122,354 121,064 1,290
Waste water management 11,367 11,367 9,019 2,348
Animal control 317,227 377,227 337,370 39,857
Pest/weed control 452,875 469,875 461,376 8,499
West Nile - 3,200 3,108 92
Victim Advocates 102,170 134,170 132,054 2,116
Solid waste - - 12,130 (12,130)
Total Public Safety 33,422,013 34,128,859 34,536,968 (408,109)
Public Works:
General engineering 1,775,872 1,705,872 1,541,786 164,086
Extension services 393,933 399,933 386,566 13,367
Veteran office 64,893 64,893 61,394 3,499
Airport 17,474 219,074 218,156 918
Total Public Works 2,252,172 2,389,772 2,207,902 181,870
Public Health and Welfare:
Mental health 135,875 95,875 91,875 4,000
Developmentally disabled 46,125 46,125 46,125 -
Seniors program 12,500 12,500 12,500 -
Economic development 100,000 1,100,000 1,092,300 7,700
A Kid's Place 8,750 8,750 8,750 -
Total Public Health and Welfare 303,250 1,263,250 1,251,550 11,700
(CONTINUED)
73
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances- Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED)
Culture and Recreation:
Missile site park 68,975 68,975 57,555 11,420
Parks and Trails 32,000 34,000 34,000 -
County fair 318,546 318,546 523,089 (204,543)
Total Culture and Recreation 419,521 421,521 614,644 (193,123)
Miscellaneous:
Other 1,248,415 1,480,415 2,197,467 (717,052)
Building rents 5,756,500 5,722,500 5,717,893 4,607
Total Miscellaneous 7,004,915 7,202,915 7,915,360 (712,445)
Capital Outlay:
Capital purchases 1,326,000 1,200,100 712,432 487,668
Debt Services:
Capital lease 301,293 301,293 335,771 (34,478)
Total Expenditures 67,908,216 72,335,039 73,057,182 (722,143)
Other Financing Source (Use)
Non-Departmental 81,892 81,892 81,892 -
Transfers-Out:
Appropriation Grants-In-Aid 2,550,741 3,050,741 3,550,741 (500,000)
Total Other Financing Sources (Uses) (2,468,849) (2,968,849) (3,468,849) (500,000)
Net Change in Fund Balance (4,577,440) (6,332,940) (3,487,921) 2,845,019
Fund Balance at Beginning of Year 11,576,666 11,576,666 11,576,666 -
Fund Balance at End of Year $ 6,999,226 $ 5,243,726 $ 8,088,745 $2,845,019
74
COUNTY OF WELD
STATE OF COLORADO
Public Works Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
REVENUES:
Taxes:
General property taxes 7,004,703 7,004,703 7,008,030 3,327
Specific ownership taxes 6,600,000 6,600,000 7,054,652 454,652
Penalties& Interest - - 12,215 12,215
Total Taxes 13,604,703 13,604,703 14,074,897 470,194
Licenses and Permits
Moving permits 300,000 400,000 508,335 108,335
Intergovernmental:
Mineral leasing 150,000 150,000 153,051 3,051
Grazing act 80,000 80,000 85,199 5,199
Payment in lieu of taxes 20,000 20,000 15,204 (4,796)
Grants 4,448,000 4,448,000 5,064,770 616,770
Motor vehicle registration fees 340,000 340,000 341,898 1,898
Highway user tax fund 7,900,000 7,900,000 8,413,837 513,837
Total Intergovernmental 12,938,000 12,938,000 14,073,959 1,135,959
Charges for Services:
Charges for services - - 1,217,651 1,217,651
Miscellaneous:
Earnings on deposits - - 133,259 133,259
Special assessments - - 7,369 7,369
Miscellaneous 3,187,000 3,287,000 1,110,135 (2,176,865)
Total Miscellaneous 3,187,000 3,287,000 1,250,763 (2,036,237)
Fees:
Other fees - - 612,352 612,352
Total Revenues 30,029,703 30,229,703 31,737,957 1,508,254
76
COUNTY OF WELD
STATE OF COLORADO
Public Works Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
EXPENDITURES
Public Works
Bridge construction 3,201,229 3,351,229 3,289,043 62,186
Maintenance of condition 4,148,531 4,674,531 5,840,578 (1,166,047)
Maintenance support 2,209,243 1,305,547 1,230,755 74,792
Trucking division 2,828,507 3,279,507 3,254,862 24,645
Mining division 2,678,066 2,204,066 1,975,660 228,406
Administration 809,771 872,771 1,195,311 (322,540)
Pavement Management - 998,696 828,544 170,152
Other public works 20,884,891 21,084,891 10,641,062 10,443,829
Total Public Works 36,760,238 37,771,238 28,255,815 9,515,423
Intergovernmental:
Grants-in-aid to cities/towns 1,494,595 1,494,595 1,335,040 159,555
Total Expenditures 38,254,833 39,265,833 29,590,855 9,674,978
Net Change in Fund Balance (8,225,130) (9,036,130) 2,147,102 11,183,232
Fund Balances at Beginning of Year 19,389,842 19,389,842 19,389,842 -
Fund Balances at End of Year $ 11,164,712 $ 10,353,712 $ 21,536,944 $ 11,183,232
77
COUNTY OF WELD
STATE OF COLORADO
Social Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances- Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
REVENUES
Taxes:
General property taxes $ 5,600,000 $ 5,600,000 $ 5,607,217 $ 7,217
Penalties& Interest - - 9,733 9,733
Total Taxes 5,600,000 5,600,000 5,616,950 16,950
Intergovernmental:
Welfare 18,914,673 18,914,673 16,137,119 (2,777,554)
Total Revenues 24,514,673 24,514,673 21,754,069 (2,760,604)
EXPENDITURES
Public Health and Welfare:
Administrative-regular 7,002,907 7,002,907 3,840,050 3,162,857
Administrative - IV-D 2,279,629 2,279,629 2,509,299 (229,670)
Food stamps - - (55,144) 55,144
Employment first 1,156,276 1,156,276 1,709,580 (553,304)
General assistance 190,000 190,000 135,563 54,437
TANF 3,153,000 3,153,000 2,791,179 361,821
AND-State 76,000 76,000 50,809 25,191
Child welfare 9,692,500 9,692,500 9,850,863 (158,363)
Day care 1,053,000 1,053,000 1,019,156 33,844
Medicaid transportation - - 444 (444)
78
COUNTY OF WELD
STATE OF COLORADO
Social Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances- Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED):
OAP -A 175,000 175,000 158,394 16,606
Core services 280,000 280,000 245,476 34,524
Administrative- LEAP 181,700 181,700 136,574 45,126
LEAP - Program - - (1,868) 1,868
Total Public Health and Welfare 25,240,012 25,240,012 22,390,375 2,849,637
Capital Outlay 155,000 155,000 86,675 68,325
Total Expenditures 25,395,012 25,395,012 22,477,050 2,917,962
Net Change in Fund Balance (880,339) (880,339) (722,981) 157,358
Fund Balances at Beginning of Year 3,071,658 3,071,658 3,071,658 -
Fund Balances at End of Year $ 2,191,319 $ 2,191,319 $ 2,348,677 $ 157,358
79
COUNTY OF WELD
STATE OF COLORADO
Human Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances-Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
REVENUES
Intergovernmental:
Federal grants $ 10,128,459 $ 12,247,749 $ 12,056,411 $ (191,338)
State grants 1,946,490 1,946,490 1,343,292 (603,198)
Total Intergovernmental 12,074,949 14,194,239 13,399,703 (794,536)
Charges for Services:
Charges for services 566,910 566,910 638,310 71,400
Total Charges for Services 566,910 566,910 638,310 71,400
Miscellaneous:
Donations from private sources 155,000 155,000 167,116 12,116
Other revenue - - 44,295 44,295
Total Miscellaneous 155,000 155,000 211,411 56,411
Total Revenues 12,796,859 14,916,149 14,249,424 (666,725)
EXPENDITURES
Economic Assistance:
Human resources general fund - - 78,493 (78,493)
Head start 2,987,432 3,073,732 3,034,820 38,912
Migrant head start 2,229,423 2,381,923 2,364,515 17,408
Colorado Works - 60,000 59,139 861
Preschool program 147,500 147,500 168,355 (20,855)
Building Health Marriages - 50,000 43,538 6,462
FENWC carryover - 810,000 928,272 (118,272)
Job service 569,800 630,000 672,606 (42,606)
Summer job hunt 31,000 31,000 32,999 (1,999)
Jobs/New directions 43,000 47,000 47,654 (654)
Employment first 148,800 150,800 150,368 432
Summer of service - - 8,000 (8,000)
TANF 732,800 732,800 646,031 86,769
WIA administration 121,000 135,000 151,943 (16,943)
WA adult programs 301,200 521,200 561,098 (39,898)
WIA youth programs 437,000 437,000 371,920 65,080
WIA Rapid Response/DW - 13,900 13,825 75
JTPA IIB 41,600 47,000 52,912 (5,912)
10% Discretionary Grant - 26,500 26,270 230
WA planning 93,000 100,000 28,932 71,068
WIA statewide activities 62,000 62,000 - 62,000
WIA dislocated worker 350,600 590,000 550,133 39,867
Human resources lab pool 286,000 420,000 443,648 (23,648)
UI training program 198,800 198,800 174,728 24,072
80
COUNTY OF WELD
STATE OF COLORADO
Human Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances-Budget and Actual
For the fiscal year ended December 31, 2007
Budget-GAAP Basis
Original Final Actual Variance
EXPENDITURES(CONTINUED):
One stop 200,500 200,500 193,781 6,719
Family support program - 35,000 31,277 3,723
AAA administration 66,850 66,850 72,390 (5,540)
OAA title Ill-B 226,310 226,310 189,165 37,145
OAA title III-C1 congregate 382,830 382,830 364,948 17,882
OAA title III-C2 42,000 42,000 44,168 (2,168)
OAA in home support 14,980 14,980 9,881 5,099
AAA elder abuse 2,190 2,190 855 1,335
AAA ombudsman 5,340 5,340 5,111 229
Single entry point 645,340 645,340 688,115 (42,775)
FTA 128,590 203,590 144,577 59,013
CHIP Grant - - 4,246 (4,246)
NCMC Grant - - 7,470 (7,470)
Vale Grant - - 5,462 (5,462)
AM case management 26,090 26,090 6,433 19,657
Transportation - 36,000 34,562 1,438
AAA state funds 232,460 232,460 251,297 (18,837)
Medicaid transportation 46,910 135,000 71,703 63,297
Supplemental foods 1,679,180 1,679,180 1,445,448 233,732
Part E family caregiver support 78,810 78,810 56,643 22,167
CSBG 269,130 269,130 211,466 57,664
Total Economic Assistance 12,828,465 14,947,755 14,449,197 498,558
Capital Outlay:
Human resources general fund - - 6,627 (6,627)
Total Capital Outlay - - 6,627 (6,627)
Total Expenditures 12,828,465 14,947,755 14,455,824 491,931
Other Financing Sources(Uses):
Transfers-In:
OAA area agency 12,351 12,351 12,351 -
Total Other Financing Sources 12,351 12,351 12,351 -
Net Change in Fund Balance (19,255) (19,255) (194,049) (174,794)
Fund Balances at Beginning of Year 861,698 861,698 861,698 -
Fund Balances at End of Year $ 842,443 $ 842,443 $ 667,649 $ (174,794)
81
Supplemental Information
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2007
MAJOR GOVERNMENTAL FUND
Capital Projects Fund
Capital Expenditures Fund:
This fund accounts for various capital improvement projects on County property.
NON-MAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Special revenue funds account for taxes or other earmarked revenue of the County that finances specified
activities as required by law or administrative action.
Conservation Trust Fund:
The Conservation Trust Fund accounts for revenue received from the State of Colorado to be used for
the acquisition, development and maintenance of new and existing conservation sites within Weld
County. The funds are derived from the Colorado State Lottery.
Contingent Fund:
The Contingent Fund records any property tax revenue levied by the Board of County
Commissioners to cover reasonably unforseen expenditures.
Emergency Fund:
The Emergency Fund accounts for the"Emergency Reserve"required by"Amendment One"to the
Colorado Constitution.
Public Health Fund:
The Weld County Public Health Department provides health services to County residents. The fund
reflects revenue and expenditures for health care, health education, health monitoring and other
related activities.
Solid Waste Fund:
This fund accounts for revenue received from a surcharge on dumping fees at solid waste disposal
sites for the purpose of combating environmental problems and for the further improvement and
development of landfill sites within the County.
Bebee Draw Law Enforcement Fund
This fund accounts for the revenue of the law enforcement authority. The authority is a taxing unit
created by the County to provide additional law enforcement services by the County Sheriff to
residents in a developed unincorporated area of the County
83
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2007
PROPRIETARY FUNDS
Enterprise Funds
Enterprise funds account for operations that are financed and operated in a manner similar to private business
enterprises where the intent of the governing body is that the costs (expenses including depreciation) of
providing goods or services to the general public on a continuing basis be financed or recovered primarily
through user charges;or where the governing body has decided that periodic determination or revenue earned,
expenses incurred, and/or net income is appropriated for capital maintenance, public policy, management
control, accountability or other purposes.
Paramedic Services Fund:
This fund accounts for the ambulance services provided to Weld County.
Internal Service Funds
Motor Vehicle Fund:
This fund accounts for the revenue and costs generated by equipment and vehicles rented to various
departments of the County.
Health Insurance Fund:
This fund accounts for the County's self-insured dental and vision coverage. Revenue is generated
from contributions from the employees of the County. Disbursements are made after insured claims
have been verified and approved.
Insurance Fund:
This fund accounts for all insurance costs for the County,except health insurance. This program is a
combination of insured risks and protected self-insurance risks.
Phone Services Fund:
This fund accounts for all phone costs provided to the County and other outside agencies on a cost-
reimbursement basis.
Weld Finance Corporation:
This fund acquires real estate and constructs buildings for the use of County departments.
84
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2007
FIDUCIARY FUNDS
Agency Funds
Agency funds account for assets held by the County as an agent for individuals,private organizations and/or
other governments.
General Agency Fund:
This fund account for all monies collected(principally tax collections)by the Weld County Treasurer
for various other local governmental units within the County.
Payroll Agency Fund:
This fund accounts for the accumulation of County payrolls and related withholdings. Disbursements
are made to the appropriate financial institutions through the payroll direct deposit system and the
various vendors for the withholdings.
Employee Flexible Spending:
This fund accounts for Weld County's Section 125,voluntary tax-sheltered plan,which the County
administers directly. Employee contributions to the plan are refunded upon submission of
documentation for un-reimbursed claims.
85
COUNTY OF WELD
STATE OF COLORADO
Combining Balance Sheet
Non-Major Governmental Funds
December 31, 2007
Conservation Contingent Emergency
Trust Fund Fund Fund
ASSETS
Cash and short-term investments $ 197,987 $ 5,457,600 $ 5,000,000
Receivables (net of allowance for uncollectibles):
Current property taxes - 1,994,661 -
Delinquent property taxes - 3,034 -
Accounts - - -
Inventories - - -
Other assets - - -
Total Assets $ 197,987 $ 7,455,295 $ 5,000,000
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ - $ - $ -
Accrued liabilities - - -
Due to other County funds - - -
Unearned revenue - 2,003,034 -
Total Liabilities - 2,003,034 -
Fund Balances:
Reserved for encumbrances - - -
Reserved for other assets - - -
Reserved for emergency - - 5,000,000
Unreserved:
Designated for future year's expenditure - 5,452,261 -
Undesignated 197,987 - -
Total Fund Balances 197,987 5,452,261 5,000,000
Total Liabilities and Fund Balances $ 197,987 $ 7,455,295 $ 5,000,000
88
Bebee Draw Total
Law Nonmajor
Public Health Solid Waste Enforcement Governmental
Fund Fund Fund Funds
$ 922,188 $ 945,847 $ 99 $ 12,523,721
- - - 1,994,661
- - - 3,034
626,060 42,874 - 668,934
885 - - 885
$ 1,549,133 $ 988,721 $ 99 $ 15,191,235
$ 96,149 $ 2,949 $ - $ 99,098
222,352 - - 222,352
114,590 97,549 - 212,139
63,087 - - 2,066,121
496,178 100,498 - 2,599,710
1,712 - - 1,712
885 - - 885
- - - 5,000,000
- 594,269 - 6,046,530
1,050,358 293,954 99 1,542,398
1,052,955 888,223 99 12,591,525
$ 1,549,133 $ 988,721 $ 99 $ 15,191,235
89
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
Non-Major Governmental Funds
For the fiscal year ended December 31, 2007
Conservation Contingent Emergency
Trust Fund Fund Fund
REVENUES:
Taxes:
Taxes $ - $ 2,603,533 $ -
Intergovernmental 423,260 - -
Charges for services - - -
Miscellaneous 8,113 - -
Total Revenues 431,373 2,603,533 -
EXPENDITURES:
Current:
Public Safety - - -
Public health and welfare - - -
Culture and recreation 396,667 - -
Capital outlay - - -
Total Expenditures 396,667 - -
Excess of Revenues Over(Under)
Expenditures 34,706 2,603,533 -
Other Financing Sources (Uses):
Transfers- In - - 1,000,000
Transfers-Out - - -
Total Other Financing Sources (Uses) - - 1,000,000
Net Change in Fund Balances 34,706 2,603,533 1,000,000
Fund Balances at Beginning of Year 163,281 2,848,728 4,000,000
Fund Balances at End of Year $ 197,987 $ 5,452,261 $ 5,000,000
90
Bebee Draw Total
Law Nonmajor
Public Health Solid Waste Enforcement Governmental
Fund Fund Fund Funds
$ - $ - $ 15,682 $ 2,619,215
3,152,591 - - 3,575,851
1,295,755 1,148,263 - 2,444,018
76,692 - - 84,805
4,525,038 1,148,263 15,682 8,723,889
- 601,128 15,875 617,003
7,298,716 - - 7,298,716
- - - 396,667
22,971 - - 22,971
7,321,687 601,128 15,875 8,335,357
(2,796,649) 547,135 (193) 388,532
2,745,767 - - 3,745,767
- 789,269 - 789,269
2,745,767 (789,269) - 2,956,498
(50,882) (242,134) (193) 3,345,030
1,103,837 1,130,357 292 9,246,495
$ 1,052,955 $ 888,223 $ 99 $ 12,591,525
91
COUNTY OF WELD
STATE OF COLORADO
Capital Expenditures Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
REVENUES
General property taxes $ 5,875,000 $ 5,875,000 $ 5,878,117 $ 3,117
Penalties & interest - - 10,341 10,341
Total Taxes 5,875,000 5,875,000 5,888,458 13,458
Grant - 2,000,000 400,000 (1,600,000)
Fees 400,000 400,000 146,104 (253,896)
Earnings on deposits 100,000 100,000 551,467 451,467
Total Revenues 6,375,000 8,375,000 6,986,029 (1,388,971)
EXPENDITURES
Capital Outlay:
Buildings 18,256,403 20,756,403 16,221,887 4,534,516
Total Expenditures 18,256,403 20,756,403 16,221,887 4,534,516
Other Financing Sources (Uses):
Transfers- In:
General Fund - 500,000 500,000 -
Total Other Financing Sources - 500,000 500,000 -
Net Change in Fund Balance (11,881,403) (11,881,403) (8,735,858) 3,145,545
Fund Balance at Beginning of Year 11,730,547 11,730,547 11,730,547 -
Fund balance at End of Year $ (150,856) $ (150,856) $ 2,994,689 $ 3,145,545
92
COUNTY OF WELD
STATE OF COLORADO
Conservation Trust Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
State lottery $ 372,000 $ 372,000 $ 423,260 $ 51,260
Miscellaneous:
Earnings on deposits 9,000 9,000 8,113 (887)
Total Revenues 381,000 381,000 431,373 50,373
EXPENDITURES
Culture and Recreation:
Land improvements 381,000 381,000 396,667 (15,667)
Total Expenditures 381,000 381,000 396,667 (15,667)
Net Change in Fund Balance - - 34,706 34,706
Fund Balances at Beginning of Year 163,281 163,281 163,281 -
Fund balances at End of Year $ 163,281 $ 163,281 $ 197,987 $ 34,706
93
COUNTY OF WELD
STATE OF COLORADO
Contingent Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes $ 2,600,000 $ 2,600,000 $ 2,599,072 $ (928)
Penalties& Interest - - 4,461 4,461
Total Taxes 2,600,000 2,600,000 2,603,533 3,533
Total Revenues 2,600,000 2,600,000 2,603,533 3,533
EXPENDITURES
Miscellaneous 5,450,000 5,450,000 - 5,450,000
Total Expenditures 5,450,000 5,450,000 - 5,450,000
Net Change in Fund Balance (2,850,000) (2,850,000) 2,603,533 5,453,533
Fund Balances at Beginning of Year 2,848,728 2,848,728 2,848,728 -
Fund Balances at End of Year $ (1,272) $ (1,272) $ 5,452,261 $ 5,453,533
94
COUNTY OF WELD
STATE OF COLORADO
Emergency Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
Total Revenues - - - -
EXPENDITURES 4,000,000 5,000,000 - 5,000,000
Other Financing Sources (Uses):
Transfers- In:
Non-Departmental - 1,000,000 1,000,000 -
Total Other Financing Sources (Uses) - 1,000,000 1,000,000 -
Net Change in Fund Balance (4,000,000) (4,000,000) 1,000,000 5,000,000
Fund Balances at Beginning of Year 4,000,000 4,000,000 4,000,000 -
Fund Balances at End of Year $ - $ - $ 5,000,000 $ 5,000,000
95
COUNTY OF WELD
STATE OF COLORADO
Public Health Fund
Schedule of Revenues,Expenditures and
Changes in Fund Balances-Budget and Actual
For the fiscal year ended December 31,2007
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
State grants $ 3,018,981 $ 3,589,406 $ 3,152,591 $ (436,815)
Counties 2,538,390 2,038,390 - (2,038,390)
Total Intergovernmental 5,557,371 5,627,796 3,152,591 (2,475,205)
Charges for Services:
Charges for services 1,319,176 1,401,976 1,295,755 (106,221)
Total Charges for Services 1,319,176 1,401,976 1,295,755 (106,221)
Miscellaneous:
Fees and fines - - 9,906 9,906
Other 16,500 1,500 2,108 608
Donations - 15,000 64,678 49,678
Total Miscellaneous 16,500 16,500 76,692 60,192
Total Revenues 6,893,047 7,046,272 4,525,038 (2,521,234)
EXPENDITURES
Public Health and Welfare:
Public health administration 200,000 200,000 585,289 (385,289)
Health education 432,650 1,282,993 1,289,281 (6,288)
Nursing 4,797,674 3,880,881 3,101,527 779,354
Environmental health 2,198,151 2,367,830 2,045,805 322,025
Public Health Preparedness - 576,758 276,814 299,944
Total Public Health and Welfare 7,628,475 8,308,462 7,298,716 1,009,746
Capital Outlay:
Environmental health - - 22,971 (22,971)
Total Capital Outlay - - 22,971 (22,971)
Total Expenditures 7,628,475 8,308,462 7,321,687 986,775
Other Financing Sources(Uses):
Transfers-In:
Non Departmental 707,377 707,377 2,745,767 2,038,390
Total Other Financing Sources 707,377 707,377 2,745,767 2,038,390
Net Change in Fund Balance (28,051) (554,813) (50,882) 503,931
Fund Balances at Beginning of Year 1,103,837 1,103,837 1,103,837 -
Fund Balance at End of Year $ 1,075,786 $ 549,024 $ 1,052,955 $ 503,931
96
COUNTY OF WELD
STATE OF COLORADO
Solid Waste Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances -Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
REVENUES
Landfill surcharge $ 1,375,000 $ 1,375,000 $ 1,148,263 $ (226,737)
Total Revenues 1,375,000 1,375,000 1,148,263 (226,737)
EXPENDITURES
Miscellaneous:
Solid waste 585,731 585,731 600,674 (14,943)
Code enforcement - - 454 (454)
Total Miscellaneous 585,731 585,731 601,128 (15,397)
Total Expenditures 585,731 585,731 601,128 (15,397)
Other Financing Sources (Uses):
Transfers- Out:
General Fund 81,892 81,892 81,892 -
Health department 707,377 707,377 707,377 -
Total Other Financing Sources (Uses) (789,269) (789,269) (789,269) -
Net Change in Fund Balance - - (242,134) (242,134)
Fund Balances at Beginning of Year 1,130,357 1,130,357 1,130,357 -
Fund Balances at End of Year $ 1,130,357 $ 1,130,357 $ 888,223 $ (242,134)
97
COUNTY OF WELD
STATE OF COLORADO
Bebee Draw Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes $ 14,216 $ 14,216 $ 14,210 $ (6)
Specific ownership taxes 1,800 1,800 1,419 (381)
Penalties & Interest - - 53 53
Total Revenues 16,016 16,016 15,682 (334)
EXPENDITURES
Miscellaneous 16,016 16,016 15,875 141
Total Expenditures 16,016 16,016 15,875 141
Net Change in Fund Balance - - (193) (193)
Fund Balances at Beginning of Year 292 292 292 -
Fund Balances at End of Year $ 292 $ 292 $ 99 $ (193)
98
COUNTY OF WELD
STATE OF COLORADO
Housing Authority
Schedule of Revenues, Expenditures and
Changes in Fund Balances -Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
Federal Grants $ - $ - $ - $ -
State Grants 2,600,000 2,600,000 3,167,816 567,816
Total Intergovernmental 2,600,000 2,600,000 3,167,816 567,816
Miscellaneous:
Earnings on deposits - - 12,306 12,306
Miscellaneous 237,819 237,819 16,552 (221,267)
Total Miscellaneous 237,819 237,819 28,858 (208,961)
Total Revenues 2,837,819 2,837,819 3,196,674 358,855
EXPENDITURES
Rent assistance 2,600,000 2,600,000 2,400,647 199,353
Supplies 228,202 228,202 367,539 (139,337)
Depreciation - - 409 (409)
Total Expenditures 2,828,202 2,828,202 2,768,595 59,607
Net Change in Fund Balance 9,617 9,617 428,079 418,462
Fund Balances at Beginning of Year - - 2,087,029 2,087,029
Fund Balances at End of Year $ 9,617 $ 9,617 $ 2,515,108 $ 2,505,491
99
COUNTY OF WELD
STATE OF COLORADO
E-911 Authority
Schedule of Revenues, Expenditures and
Changes in Fund Balances- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
REVENUES
Miscellaneous:
Earnings on deposits 80,000 80,000 166,111 86,111
Charge for service 1,456,125 1,456,125 1,403,557 (52,568)
Total Revenue 1,536,125 1,536,125 1,569,668 33,543
EXPENDITURES
Personnel Services 51,232 51,232 - 51,232
Depreciation 111,589 111,589 108,243 3,346
Purchased services 847,859 847,859 673,673 174,186
Supplies 200,239 200,239 130,228 70,011
Grants and donations - - .. -
Total Expenditures 1,210,919 1,210,919 912,144 298,775
Net Change in Fund Balance 325,206 325,206 657,524 332,318
Fund Balances at Beginning of Year 3,535,396 3,535,396 3,535,396 -
Fund Balances at End of Year $ 3,860,602 $ 3,860,602 $ 4,192,920 $ 332,318
100
Financial Planning 02/01
The public report burden for this information collection is estimated to average 380 hours annually. Form#350-050-36
City or County:
LOCAL HIGHWAY FINANCE REPORT YEAR ENDING :
December 2007
This Information From The Records Of(example-City of_or County of Prepared By: Barbara Connolly
Phone: (970)356-4000 X4445
I. DISPOSITION OF HIGHWAY-USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE
A. Local B. Local C. Receipts from D. Receipts from
ITEM Motor-Fuel Motor-Vehicle State Highway- Federal Highway
Taxes Taxes User Taxes Administration
1. Total receipts available
2. Minus amount used for collection expenses
3. Minus amount used for nonhighway purposes
4. Minus amount used for mass transit
5. Remainder used for ht hwa u oses
II. RECEIPTS FOR ROAD AND STREET PURPOSES III. DISBURSEMENTS FOR ROAD
AND STREET PURPOSES
ITEM AMOUNT ITEM AMOUNT
A. Receipts from local sources: A. Local highway disbursements:
1. Local highway-user taxes 1. Capital outlay(from page 2) 6,303,114
a. Motor Fuel (from Item I.A.5.) 2. Maintenance: 18 593 402
b. Motor Vehicle(from Item I.B.5.) 3. Road and street services:
c. Total(a.+b.) a. Traffic control operations
2. General fund appropriations b. Snow and ice removal 1,835,784
3. Other local imposts(from page 2) 14,082,266 c. Other 328,204
4. Miscellaneous local receipts(from page 2) 3,581,732 d. Total (a.through c.) 2,163,988
5. Transfers from toll facilities 4. General administration&miscellaneous 2,530,351
6. Proceeds of sale of bonds and notes: 5. Highway law enforcement and safety
a. Bonds-Original Issues 6. Total (1 through 5) 29 590,855
b. Bonds-Refunding Issues B. Debt service on local obligations:
c. Notes 1. Bonds:
d. Total (a.+b.+c.) 0 a. Interest
7. Total(1 through 6) 17,663,998 b. Redemption
B. Private Contributions c. Total a.+h. 0
C. Receipts from State government 2. Notes:
(from page 2) 13,820 505 a. Interest
D. Receipts from Federal Government b. Redemption
(from page 2) 253,454 c. Total (a.+b.) 0
E. Total receipts A.7+B+C+D 31,737,957 3. Total (1.c+2.c 0
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements(A.6+B.3+C+D) 29,590,855
IV. LOCAL HIGHWAY DEBT STATUS
(Show all entries at par)
Opening Debt Amount Issued Redemptions Closing Debt
A. Bonds Total 0
1. Bonds(Refunding Portion)
B. Notes(1 otal) ll
V. LOCAL ROAD AND STREET FUND BALANCE
A.Beginning Balance B.Total Receipts r.Total Disbursement D.Ending Balance E.Reconciliation
19,389,842 31,737,957 I 29,590,855 21,536.944 0
Notes and Comments:
FORM FHWA-536(Rev. 1-05) PREVIOUS EDITIONS OBSOLETE (Next Page)
1
102
STATE:
Colorado
LOCAL HIGHWAY FINANCE REPORT YEAR ENDING (mm/yy):
December 2007
II. RECEIPTS FOR ROAD AND STREET PURPOSES-DETAIL
ITEM AMOUNT ITEM AMOUNT
A.3. Other local im•osts: A.4. Miscellaneous local recei i ts:
a. Property Taxes and Assessments 7 027 614 a. Interest on investments 133,259
b. Other local imposts: b. Traffic Fines&Penalities
1. Sales Taxes c.Parking Garage Fees
2. Infrastructure&Impact Fees d. Parking Meter Fees
3. Liens e. Sale of Surplus Property
4.Licenses f. Charges for Services 1,217,651
5. Specific Ownership&/or Other 7,054,652 g. Other Misc.Receipts 1,120,687
6. Total(1.through 5.) 7,054,652 h. Other 1,110,135
c. Total a.+b. 14 082 266 i. Total a.throu_•h h. 3 581 732
(Cam forward to •a•e I (C: forward to•a•e I
ITEM AMOUNT ITEM AMOUNT
C. Recei its from State Government D. Recei its from Federal Government
1. Hi:hwa -user taxes 8 413 837 1. FHWA from Item I.D.5.
2. State general funds 2. Other Federal agencies:
3. Other State funds: a. Forest Service 85,199
a. State bond proceeds b. FEMA
b. Project Match c. HUD
c. Motor Vehicle Registrations 341,898 d. Federal Transit Admin
d.Other (Specify) 5,064,770 e. U.S.Corps of Engineers
e. Other(Specify) f. Other Federal 168,255
f. Total(a.through e.) 5,406,668 g. Total (a.through f.) 253 454
4. Total 1.+2.+3. 13 820 505 3. Total 1.+2.•
(Carp forward to page I)
III. DISBURSEMENTS FOR ROAD AND STREET PURPOSES-DETAIL
ON NATIONAL OFF NATIONAL
HIGHWAY HIGHWAY TOTAL
SYSTEM SYSTEM
a b c
A.1. Capital outlay:
a. Right-Of-Way Costs 2,122,985 2,122,985
b. En ineerin Costs 2 709 066 2 709 066
c. Construction:
(1).New Facilities 0
(2). Capacity Improvements 766,114 766,114
(3). System Preservation 704,949 704,949
(4). System Enhancement&Operation 0
(5). Total Construction (1)+(2)+(3)+(4) 0 1,471,063 1,471,063
d. Total Ca ital Outla Lines l.a.+ 1.b.+ 1.c.5 0 6 303 114 6 303 114
(Camp forward to page I)
Notes and Comments:
FORM FHWA-536(Rev.l-05) PREVIOUS EDITIONS OBSOLETE
2
103
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Net Assets
Internal Service Funds
December 31, 2007
Motor Vehicle Health
Fund Insurance Fund Insurance Fund
ASSETS
Current Assets:
Cash and cash equivalents $ 1,537,457 $ 4,277,627 $ 1,792,177
Receivables (net of allowances for uncollectables):
Current property taxes - - 1,495,996
Delinquent property taxes - - 1,420
Accounts 161,369 4,674 -
Due from other county funds 346,553 - 5,285
Inventories 75,294 - -
Total current assets 2,120,673 4,282,301 3,294,878
Fixed assets:
Improvements other than buildings 485,897 - -
Buildings 1,800,977 - -
Machinery and equipment 28,558,209 - -
Accumulated depreciation (16,720,830) - -
Total Fixed Assets 14,124,253 - -
Total assets $ 16,244,926 $ 4,282,301 $ 3,294,878
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable $ 416,599 $ 7,962 $ 137,079
Accrued liabilities - - 967,140
Due to other county funds 242,290 - 12,729
Unearned revenue - - 1,501,419
Unexpended grant revenue - 740,721 -
Total Current Liabilities 658,889 748,683 2,618,367
Total Liabilities 658,889 748,683 2,618,367
Net Assets
Invested in capital assets, net of related debt 14,124,253 - -
Restricted for:
Workers' compensation - - 676,511
Unrestricted 1,461,784 3,533,618 -
Totalnetassets 15,586,037 3,533,618 676,511
104
Phone Services Weld Finance Total Internal
Fund Corporation Service Funds
$ 1,352,361 $ - $ 8,959,622
- -
1,495,996
1,420
13,911 - 179,954
19,687 - 371,525
- -
75,294
1,385,959 - 11,083,811
- -
485,897
-
1,800,977
1,517,053 - 30,075,262
(1,276,008) - (17,996,838)
241,045 - 14,365,298
$ 1,627,004 $ - $25,449,109
$ 46,602 $ - $ 608,242
18,024 - 985,164
1,313 - 256,332
1,501,419
- - 740,721
65,939 - 4,091,878
65,939 - 4,091,878
241,045 - 14,365,298
- - 676,511
1,320,020 - 6,315,422
1,561,065 - 21,357,231
105
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Revenues, Expenses and Changes in Net Assets
Internal Service Funds
For the fiscal year ended December 31, 2007
Motor Vehicle Health
Fund Insurance Fund Insurance Fund
Operating revenues:
Contributions $ - $ 8,821,434 $ -
Charges for services 6,891,179 - 254,744
Total operating revenues 6,891,179 8,821,434 254,744
Operating expenses:
Personnel services - - -
Supplies 2,351,715 - 1,236
Purchased services 2,427,851 18,456 21,505
Insurance and bonds - - 585,331
Depreciation 2,603,636 - -
Other 49,975 - 457
Claims - 8,124,089 864,519
Total operating expenses 7,433,177 8,142,545 1,473,048
Operating income (loss) (541,998) 678,889 (1,218,304)
Nonoperating revenues (expenses):
Taxes - - 1,254,012
Miscellaneous 50 - -
Interest income - - 85,122
Grants 1,554,511 - -
Gain (loss) on disposition of assets 276,738 - -
Judgements and damages 1,900 - 89,855
Interest expense - - -
Total nonoperating revenues (expenses) 1,833,199 - 1,428,989
Income (loss) before contributions and transfers 1,291,201 678,889 210,685
Capital contributions 597,415 - -
Changes in net assets 1,888,616 678,889 210,685
Total net assets- beginning 13,697,421 2,854,729 465,826
Total net assets-ending $ 15,586,037 $ 3,533,618 $ 676,511
106
Phone Services Weld Finance Total Internal
Fund Corporation Service Funds
$ - $ - $ 8,821,434
1,136,187 - 8,282,110
1,136,187 - 17,103,544
142,033 - 142,033
22,284 16,461 2,391,696
731,665 822 3,200,299
- -
585,331
77,908 139,514 2,821,058
54,569 - 105,001
-
8,988,608
1,028,459 156,797 18,234,026
107,728 (156,797) (1,130,482)
- -
1,254,012
5,925,771 5,925,821
15,500 100,622
- - 1,554,511
(5,507) (4,863,055) (4,591,824)
- - 91,755
(352,793) (352,793)
(5,507) 725,423 3,982,104
102,221 568,626 2,851,622
- 597,415
102,221 568,626 3,449,037
1,458,844 (568,626) 17,908,194
$ 1,561,065 $ - $ 21,357,231
107
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Internal Service Funds
For the fiscal year ended December 31,2007
Motor Vehicle Health Insurance Insurance
Fund Fund Fund
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers $ 606,851 $ - $ 2,655
Cash flows from internal customers 6,175,720 8,894,379 255,080
Cash payments to external suppliers for goods and services (4,366,430) (7,950,324) (1,316,155)
Cash payments to internal suppliers for goods and services (112,110) - -
Cash payments to employees for services - (192,531) -
Judgements/damages/losses 1,900 - 105,581
Miscellaneous revenues 50 - -
Net cash provided(used)by operating activities 2,305,981 751,524 (952,839)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes - - 1,254,012
Grants/Other - -Net cash provided by noncapital financing activities - - 1.254.012
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (2,897,733) - -
Principal paid on long-term debt - - -
Interest paid - - -
Writeoff remaining discount - - -
Proceeds from sale of capital assets 484,415 - -
Grants 1.554.511 - -
Net cash provided(used)for capital and related
financing activities (858 8071 - -
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments - .. 85,122
Net Increase(decrease)in Cash and Cash Equivalents 1,447,174 751,524 386,295
Cash and Cash Equivalents at Beginning of Year 90.283 3.526.103 1 405 882
Cash and Cash Equivalents at End of Year $ 1 537 457 $ 4 277 627 $ 1 792 177
Reconciliation of operating income to net cash
provided(used)by operating activities:
Operating income $ (541,998) $ 678,889 $ (1,218,304)
Adjustments to reconcile operating income to
net cash provided(used)by operating activities:
Depredation expense 2,603,636 - -
Judgements/damages/losses 1,900 - 89,855
Miscellaneous revenue 50 - -
Change in assets and liabilities
(Increase)decrease in accounts receivable (61,059) (4,674) (247,640)
(Increase)decrease in due from other funds (142,039) - 337
(Increase)decrease in inventories (56,086) - -
(Increase)decrease in other assets - - 15,292
Increase(decrease)in accounts payable 267,864 328 (11,017)
Increase(decrease)in accrued liabilities - - 156,258
Increase(decrease)in other liabilities 233,714 - 12,729
Increase(decrease)in deferred revenue - 76,980 249.653
Total adjustments 2 847.980 72 634 265.467
Net cash provided by operating activities s 9'ins gap 6 751 521 9 (95?8371
Noncash investing,capital,and financing activities:
Contributions of capital assets from(to)govemment $ 129.935 - -
108
Phone Service Weld Finance Total Internal
Fund Corp Service Funds
$ 113,187 $ - $ 722,693
1,013,590 - 16,338,769
(662,392) (17,283) (14,312,584)
(129,273) - (241,383)
(133,165) - (325,696)
- 107,481
- - 50
201,947 (17,283) 2289,330
- - 1,254,012
- 5.925,771 5.925.771
5 925.771 7,179,783
(91,442) - (2,989,175)
- (5,590,000) (5,590,000)
(352,793) (352,793)
16,460 16,460
- - 484,415
- - 1,554511
(91.442) (5,926.3331 (6,876,5821
- 15.500 100,622
110,505 (2,345) 2,693,153
1,241.856 2 345 6 266 469
5 1 352 361 $ - $ 8 959 622
$ 107,728 $ (156,797) $ (1,130,482)
77,908 139,514 2,821,058
- - 91,755
- - 50
(8,528) - (321,901)
(882) - (142,584)
- (56,086)
- - 15,292
24,535 - 281,710
3,154 - 159,412
(1,968) - 244,475
326 633
94,219 139,514 3,419,814
$ 201 947 $ (17 2831 $ 2 289 342
(5,507) - $ 124,428
109
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Changes in Assets and Liabilities
Fiduciary Funds
For the fiscal year ended December 31, 2007
Balance Balance
1/1/2007 Additions Deductions 12/31/2007
GENERAL AGENCY FUND
Assets:
Cash and short-term investments $ 4,130,227 $ 4,404,788 $ 4,006,084 $ 4,528,931
Total Assets $ 4,130,227 $ 4,404,788 $ 4,006,084 $ 4,528,931
Liabilities:
Accounts payable $ - $ 164,837 $ 164,837 $ -
Due to other governments 4,130,227 4,549,947 4,151,243 4,528,931
Total Liabilities $ 4,130,227 $ 4,714,784 $ 4,316,080 $ 4,528,931
PAYROLL AGENCY FUND
Assets:
Cash and short-term investments $ 219,128 $ 18,351,582 $ 18,465,983 $ 104,727
Accounts receivable 0 419 363 56
Total Assets $ 219,128 $ 18,352,001 $ 18,466,346 $ 104,783
Liabilities:
Accounts payable $ 219,128 $ 19,135,037 $ 19,249,382 104,783
Total Liabilities $ 219,128 $ 19,135,037 $ 19,249,382 $ 104,783
EMPLOYEE FLEXIBLE SPENDING
Assets:
Cash and short-term investments $ 24,378 $ 500,810 $ 494,728 $ 30,460
Accounts receivable - - - -
Total Assets $ 24,378 $ 500,810 $ 494,728 $ 30,460
Liabilities:
Accounts payable $ 24,378 $ 30,642 $ 24,560 30,460
Total Liabilities $ 24,378 $ 30,642 $ 24,560 $ 30,460
TOTAL-ALL AGENCY FUNDS
Assets:
Cash and short-term investments $ 4,373,733 $ 23,257,180 $ 22,966,795 $ 4,664,118
Accounts receivable 0 419 363 56
Total Assets $ 4,373,733 $ 23,257,599 $ 22,967,158 $ 4,664,174
Liabilities:
Accounts payable $ 243,506 $ 19,330,516 $ 19,438,779 $ 135,243
Due to other governments 4,130,227 4,549,947 $ 4,151,243 4,528,931
Total Liabilities $ 4,373,733 $ 23,880,463 $ 23,590,022 $ 4,664,174
110
COUNTY OF WELD
STATE OF COLORADO
Paramedic Services Fund
Schedule of Revenues, Expenses and
Changes in Net Assets- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
Operating Revenues:
Rescue unit fees $ 7,642,187 $ 8,805,187 $ 8,519,367 $ (285,820)
Total Operating Revenues 7,642,187 8,805,187 8,519,367 (285,820)
Operating Expenses:
Bad debt expense 2,524,000 3,324,000 3,328,501 (4,501)
Personnel services 3,856,782 3,856,782 3,873,871 (17,089)
Supplies 179,690 459,690 404,848 54,842
Purchased services 529,855 649,855 654,121 (4,266)
Depreciation 145,500 145,500 209,580 (64,080)
Other 131,360 131,360 108,522 22,838
Total Operating Expenses 7,367,187 8,567,187 8,579,443 (12,256)
Operating Income (Loss) 275,000 238,000 (60,076) (298,076)
Nonoperating Revenues:
Federal grant - 43,200 43,200 -
State grants - 77,800 77,528 (272)
Fees - - 10,290 10,290
Donations - - 100 100
Gain (loss) on disposition of assets - - 2,470 2,470
Total Nonoperating Revenues - 121,000 133,588 12,588
Income(loss) before contributions and transfers 275,000 359,000 73,512 (285,488)
Net Income (Loss) 275,000 359,000 73,512 (285,488)
Net Assets at Beginning of Year 2,648,561 2,648,561 2,648,561 -
NetAssetsatendofYear $ 2,923,561 $ 3,007,561 $ 2,722,073 $ (285,488)
111
COUNTY OF WELD
STATE OF COLORADO
Motor Vehicle Fund
Schedule of Revenues, Expenses and
Changes in Net Assets- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
Operating Revenues:
Charges for services $ 4,107,475 $ 4,518,475 $ 4,505,457 $ (13,018)
Miscellaneous 2,256,000 2,911,000 2,385,722 (525,278)
Total Operating Revenues 6,363,475 7,429,475 6,891,179 (538,296)
Operating Expenses:
Supplies 2,051,000 2,051,000 2,351,715 (300,715)
Purchased services 1,981,500 2,386,500 2,427,851 (41,351)
Depreciation 2,256,000 2,586,000 2,603,636 (17,636)
Other 49,975 49,975 49,975 -
Total Operating Expenses 6,338,475 7,073,475 7,433,177 (359,702)
Operating income (loss) 25,000 356,000 (541,998) (897,998)
Nonoperating Revenues (Expenses):
Miscellaneous - - 50 50
Grants - 500,000 1,554,511 1,054,511
Gain (loss) on disposition of assets 298,800 298,800 276,738 (22,062)
Judgements and damages - - 1,900 1,900
Total Nonoperating Revenues(Expenses) 298,800 798,800 1,833,199 1,034,399
Income(Loss) before contributions and transfers 323,800 1,154,800 1,291,201 136,401
Capital contributions - - 597,415 597,415
Net Income (Loss) 323,800 1,154,800 1,888,616 733,816
Net Assets at Beginning of Year 13,697,421 13,697,421 13,697,421 -
Net Assets at End of Year $ 14,021,221 $ 14,852,221 $ 15,586,037 $ 733,816
112
COUNTY OF WELD
STATE OF COLORADO
Health Insurance Fund
Schedule of Revenues, Expenses and
Changes in Net Assets- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
Operating Revenues:
Contributions $ 8,701,008 $ 9,400,000 $ 8,821,434 $ (578,566)
Operating Expenses:
Purchased services 27,000 27,000 18,456 8,544
Insurance and bonds 1,018,780 1,018,780 - 1,018,780
Claims 7,655,228 8,354,220 8,124,089 230,131
Total Operating Expenses 8,701,008 9,400,000 8,142,545 1,257,455
Operating Income (Loss) - - 678,889 678,889
Net Assets at Beginning of Year 2,854,729 2,854,729 2,854,729 -
Net Assets at End of Year $ 2,854,729 $ 2,854,729 $ 3,533,618 $ 678,889
113
COUNTY OF WELD
STATE OF COLORADO
Insurance Fund
Schedule of Revenues, Expenses and
Changes in Net Assets- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
Operating Revenues:
Charges for services $ 250,000 $ 250,000 $ 254,744 $ 4,744
Operating Expenses:
Supplies 500 500 1,236 (736)
Purchased services 31,700 31,700 21,505 10,195
Insurance and bonds 495,000 525,000 585,331 (60,331)
Other 500 500 457 43
Claims 1,052,300 1,112,300 864,519 247,781
Total Operating Expenses 1,580,000 1,670,000 1,473,048 196,952
Operating Income (Loss) (1,330,000) (1,420,000) (1,218,304) 201,696
Nonoperating Revenues (Expenses):
Taxes 1,250,000 1,250,000 1,251,830 1,830
Penalties & interest - - 2,182 2,182
Interest income 30,000 80,000 85,122 5,122
Judgments and damages 50,000 90,000 89,855 (145)
Total Nonoperating Revenues (Expenses) 1,330,000 1,420,000 1,428,989 8,989
Net Income (Loss) - - 210,685 210,685
Net Assets at Beginning of Year 465,826 465,826 465,826 -
Net Assets at End of Year $ 465,826 $ 465,826 $ 676,511 $ 210,685
114
COUNTY OF WELD
STATE OF COLORADO
Phone Service Fund
Schedule of Revenues, Expenses and
Changes in Net Assets- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
Operating Revenues:
Charges for services $ 956,579 $ 956,579 $ 1,136,187 $ 179,608
Operating Expenses:
Personnel services 133,990 139,990 142,033 (2,043)
Supplies 14,500 14,500 22,284 (7,784)
Purchased services 652,560 772,560 731,665 40,895
Depreciation 100,950 100,950 77,908 23,042
Other 54,579 54,579 54,569 10
Total Operating Expenses 956,579 1,082,579 1,028,459 54,120
Operating Income (Loss) - (126,000) 107,728 233,728
Nonoperating revenues (expenses):
Gain (loss) on disposition of assets - - (5,507) (5,507)
Total nonoperating revenues (expenses) - - (5,507) (5,507)
Net Income (Loss) - (126,000) 102,221 228,221
Net Assets at Beginning of Year 1,458,844 1,458,844 1,458,844 -
Net Assets at End of Year $ 1,458,844 $ 1,332,844 $ 1,561,065 $ 228,221
115
COUNTY OF WELD
STATE OF COLORADO
Weld Finance Corporation
Schedule of Revenues, Expenses and
Changes in Net Assets- Budget and Actual
For the fiscal year ended December 31, 2007
Budgeted
Original Final Actual Variance
Operating Revenues:
Operating Expenses:
Supplies - - 16,461 (16,461)
Purchased services - - 822 (822)
Depreciation 440,000 440,000 139,514 300,486
Total Operating Expenses 440,000 440,000 156,797 283,203
Operating Income (Loss) (440,000) (440,000) (156,797) 283,203
Nonoperating Revenues (Expenses):
Miscellaneous 741,293 741,293 5,925,771 5,184,478
Interest income - - 15,500 15,500
Gain (loss) on disposition of assets - - (4,863,055) (4,863,055)
Interest expense (301,293) (301,293) (352,793) (51,500)
Total Nonoperating Revenues(Expenses) 440,000 440,000 725,423 285,423
Net Income (Loss) - - 568,626 568,626
Net Assets at Beginning of Year (568,626) (568,626) (568,626) -
Net Assets at End of Year $ (568,626) $ (568,626) $ - $ 568,626
116
STATISTICAL
x=2C2.i
TT.
I)
ILI
SECTION
# titCS
Wilk
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 119
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 124
These schedules contain information to help the reader assess the
government's most significant local revenue source, the property tax.
Debt Capacity 128
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 131
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 133
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.
Sources! Unless otherwise noted,the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
117
COUNTY OF WELD
STATE OF COLORADO
Net Assets by Component
Last Six Years
(accrual basis of accounting)
Fiscal Year
2002 2al 2004 2605 2006 2007
Govemmental activities
Invested in capital assets,net of related debt $ 253,141,316 $ 247,764,877 $ 238,640,911 $ 231,271,356 $ 233,626,280 $ 249,237,323
Restricted for
Programs 3,307,949 3,169,309 4,199,374 4,695,690 3,953,450 3,988,022
Emergencies 3,025,505 3,025,505 3,500,000 4,000,000 4,000,000 5,000,000
Claims 1,663,948 1,748,948 1,748,949 1,748,950 1,748,951 1,748,951
Unrestricted 77 713 273 26.511213 30 759.296 39 782 093 48 545 826 40 122 962
Total governmental activities net assets $ 788 851 991. $ 282 219 852 $ 278 848 53Q $ 781 498 n89 $ 791 874 507 $ 300 n97 258
Business-type activities
Invested in capital assets,net of related debt $ 941,049 $ 834,285 $ 864,425 $ 809,643 $ 852,705 $ 987,445
Unrestricted (86 0861 (266 7361 (4.7611 1 508 327 2.118 077 2 191.453
Total business-type activities net assets $ 854 981 $ 567 54$ $ 859 664 $ 7 917 985 $ 2 970 787 $ 1 178 898
Primary government
Invested in capital assets,net of related debt $ 254,082,365 $ 248,599,162 $ 239,505,336 $ 232,080,999 $ 234,478,985 $ 250,224,768
Restricted 7,997,402 7,943,762 9,448,323 10,444,640 9,702,401 10,736,973
Unrestricted 27 627,187 26 244 477 30 754 535 41 290.415 50 663 903 42 314 415
Total primary government net assets $ 289 706 954 $ 282 787 401, 5 279 708 194 $ 283 816 054 5 294 845 289 $ 309776 15Q
Note: The County implemented GASB Statement No.34 in fiscal year 2002,therefore,only six years of
government-wide financial data is presented.
118
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Assets
Last Six Years
(accrual basis of accounting)
Fiscal Year
2442 2003 2004 2005 2006 2007
Expenses
Governmental activities:
General government $ 19,978,184 $ 23,618753 $ 21,174,906 $ 23,047,725 $ 26,641,373 $ 35,301,327
Public safety 24,079,553 27,827,685 28,425,957 30,449,441 32,562,998 36,717,165
Streets and highways 34,283,421 33,353,129 32,688,807 36,919,372 37,068,628 34,637,731
Health and welfare 21,721,740 21,404,255 23,538,421 24,843,147 26,179,807 31,026,419
Culture and recreation 1,036,099 776,322 1,005,697 771,295 1,549,379 1,008,703
Economic assistance 11,079,949 11,411,322 12,646,785 13,736,745 11,747,943 14,403,662
Interest on long-term debt 406,155 377,233 358,054 340,411 322,293 335,771
Total govemmental activities expenses 112 585 101 118 768 699 119 838.627 130 108 136 136 072,421 153.430.778
Business-type activities:
Paramedic service 6 743 936 8 800 646 9 738 148 6.366.088 7.156 700 8 444.840
Total primary govemment expenses 6 111 199 037 $ 127 589 344 $ 179 576 775 $ 136 474 224 6 144 999 121 $ 161 875 615
Program Revenues
Governmental activities:
Charges for services:
General government $ 9,425,679 $ 8,677,015 $ 8,086,983 $ 9,792,423 $ 12,265,623 $ 10,043,033
Public Safety 3,894,565 5,085767 7,609,527 5,430,422 6,378,749 4,998,285
Streets and highways 2,021,319 2,279,939 1,157,634 3,433,713 4,023,310 3,566,774
Health and welfare 13,664,895 11,486,561 12,699,858 13,664,206 14,949,936 17,504,660
Culture and recreation 266,900 1,375 309,948 333,293 345,990 453,352
Economic assistance 922,549 1,576,106 862,223 1,156,012 1,186,129 838,871
Operating grants and contributions 26,156,456 25,963,243 27,124,685 27,885,047 30,045,943 36,500,297
Capital grants and contributions - - - - - 4.738 627
Total govemmental activities program revenues 56,352,363 55,070,006 57,850,858 61,695,116 69,195,680 78,643,899
Business-type activities:
Paramedic service 6 815.683 8 518 289 10 035 874 7 829 714 7 710 848 8 652 955
Total primary government revenues 63 168 046 63.588 295 67,886,732 69 524 830 76,906 528 87 296 854
Net(Expenses)/Revenue
Governmental activities (56,232,738) (63,698,693) (61,987,769) (68,413,020) (66,876,741) (74,786,879)
Business-type activities 71.747 (282,3571 297.728 1.458 301 652.816 208 115
Total primary govemment net $ f56 160 991\ $ (63 981 0501 $ f61 690 0431 $ (66 954 719) $ (66 771 975,1 $ (74 578 7641
(CONTINUED)
119
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Assets
Last Six Years
(accrual basis of accounting)
Fiscal Year
2002 2003 2004 2005 2006 2007
General Revenues and Other Changes in Net Assets
Governmental activities:
Taxes:
Property taxes $ 45,233,546 $ 47,532,602 $ 50,785,919 $ 56,382,533 $ 62,124,792 $ 67,215,993
Specific Ownership 5,467,148 5,540,872 6,795,897 6,627,991 6,614,819 7,056,071
Other 2,376,581 2,492,418 3,333,336 3,733,025 5,266,786 3,546,134
Unrestricted investment earnings 2,052,594 1,563,120 1,644,979 2,679,442 4,539,172 5,191,430
Donated capital assets 0 0 0 355,784 7,602 0
Gain on sale of capital assets 10,030 (94,544) (2,358,185) - - -
Transfers - - - - (13000001 -
Total govemmental activities 55 139 899 57 034.468 60 201 946 69 778 775 77.253.171 83 009 628
Business-type activities:
Paramedic service - (5 0571 (5.6111 - - -
Total primary govemment $ 55 119 899 $ 57 079 411 $ An 19R116 % 89 778 77@ $ 77 753 171 5 89 Ong 626
Change in Net Assets
Governmental activities $ (1,092,839) $ (6,664,225) $ (1,785,823) $ 1,365,755 $ 10,376,430 $ 8,222,749
Business-type activities 71.747 (287 4141 292.115 1.458.301 652 816 208 115
Total primary govemment $ (t 071 0921 $ (6 951 6391 $ (1 493 7081 $ 2 824 05Fj % 11 079 24 6 A 430 864
Note: The County implemented GASB Statement No.34 in fiscal year 2002,therefore,only six years of government-wide data is presented.
120
COUNTY OF WELD
STATE OF COLORADO
Fund Balances of Governmental Funds
Last Six Years
(modified accrual basis of accounting)
Fiscal Year
2QQZ 2003 2004 2005 2006 2QQ7
General Fund
Reserved $ 3,249,297 $ 1,342,369 $ 1,516,298 $ 1,486,188 $ 946,073 $ 1,081,217
Unreserved 2,921,157 3.727,307 6 699 941 7,648.920 10,630,592 7,007,528
Total general fund $ 6 170 454 $ 5 069 676 $ 8 216 23$ $ 9 135 108. 5 11 576 665 $ 8 088 745
All other Governmental Funds
Reserved $ 6,984,908 $ 2,666,118 $ 4,139,435 $ 8,834,511 $ 19,019,004 $ 12,074,704
Unreserved,reported in:
Special revenue funds 19,512,384 22,023,076 25,360,820 26,155,751 25,281,236 27,791,990
Capital projects funds 294,482 2,830,614 697,779 3,511,495 0 272,790
Debt service funds - - - - -Total for all governmental funds 5 32 962 22$ $ 32 589 484 $ 38 414 273 5 47 646 865 $ 55 876 905 $ 48 228 229
Note: The County implemented GASB Statement No.34 in fiscal year 2002,therefore,only six years of government-wide data is
presented.
121
COUNTY OF WELD
STATE OF COLORADO
Changes in Fund Balances,Governmental Funds
Last Six Years
(modified accrual basis of accounting)
Fiscal Year
Z9.42. 2.0M3 2004 213LK 2006 x007
Revenues
Taxes $ 50,771,861 $ 53,080,974 $ 57,698,294 $ 63,261,095 $ 69,178,181 $ 74,627,631
Licenses and permits 2,205,420 1,760,546 1,834,849 2,119,419 3,188,354 2,129,731
Intergovernmental 40,511,590 38,299,161 40,652,682 41,110,202 44,982,577 53,886,023
Fines and forfeitures 159,246 75,488 69,538 204,530 135,908 416,668
Charges for Services 5,746,678 6,887,469 7,345,819 8,618,819 8,232,213 7,800,131
Miscellaneous 5,536,066 4,739,386 5,329,931 7,582,510 13,377,598 9,567,707
Fees 6 638,831 7,387,204 7 454 831 8 175.907 8,602.079 8.061 587
Total Revenues 111.569.692 112 230 728 120 385.944 131 077 482 147 696 910 156.489.478
Expenditures
Current:
General government 19,100,208 21,910,296 20,566,315 22,384,671 25,366,204 32,605,930
Public Safety 23,435,572 27,212,371 27,475,345 29,834,629 31,881,427 35,945,956
Public Works 23,465,325 21,407,821 22,734,695 25,490,667 26,315,156 31,798,757
Public health and welfare 21,327,335 20,896,282 23,046,109 24,284,817 25,993,962 30,940,641
Culture and recreation 1,046,374 764,449 1,007,208 775,903 1,550,929 1,011,311
Economic assistance 10,892,932 11,365,585 12,450,198 13,572,861 11,746,242 14,449,197
Capital outlay 9,590,948 8,668,934 6,923,230 5,165,931 14,980,649 17,050,592
Debt service
Interest 406,155 377,233 358,054 340,411 322,293 335,771
Principal - - - - - -
Total Expenditures 109 264 849 112 602,971 114.561.154 121 849 890 138 156 867 164 138 155
Excess of revenues over(under)expenditures 2,304.843 (372.7431 5.824.790 9 222 597 9.540 048 (7.648.6771
Other Financing Sources(Uses)
Transfers-in 5,144,682 2,482,745 4,299,153 7,436,144 11,309,847 4,340,010
Transfers-out 5.144.68Z 2 482,745 4,799 151 7 436 144 12,609.847 4.340 010
Total Other Financing Sources(Uses) - - - - (1,300,000)
Net changes in Fund Balance $ 2 104 841 $ (372 7431 $ 5 824 79Q $ 9722 592 $ 8 240 048 $ (7 648 6771
Debt Service as a percentage of noncapital expenditures 0,41% 0.36% 0.33% 0.29% 0.26% 0.23%
Note: The County implemented GASB Statement No.34 in fiscal year 2002,therefore,only six years of government-wide data is
presented.
122
O o
a m Orn m 0 0 0 0 0 0 0 0 0 0
CA 03 O
IA n 0 n O N C9 C9 r 0 CO
tV d C or- M N N- M O r O 0
h i 8 J O r r N eD to N N O 0
a a
Ti o 0 0 0 0 n V r 0 V
N d V V M M n n r n o O
0 0 0 0 O n 0 V 0) O0 N
O K co N N N O 0 r- 0 ' n
To % N N N N N N N
A
O r
r
✓ r r 0 0 V M O)
0 00 o Cr) CD n n o or O) co
a a.2270 > p 0 OO 0 M 0 0 0 O
cocorococorcoopco ca
N j tO M LO V 10 V LO M O V J
E < -0 M o r o cco N co (ni r Ooi W
N ¢ co N ' co co O) N U) N 0 f0 O
W CO 6 O 0 N N h co- O) N
I-
0000000000 y E
J r co r LO O 0 r r a-
° C n
co co N Q) co co r e
• N n 0 N VE y
t0 n 6 M co
y > ' L0 0 a0 O N N V t0 0) E
CO a OI CO O N. a a M 0) St 0 0
r 0 M Vl N Ni r h M Y1 l7 0 a t0
O e. co n 0 n N V 0 t0 N V CO T
F M a e- e- N N N N N M V V M y
O 0
T O
a) 0 0 0 0 0 0 0 0 0 0 N t_.
O O o n O o 0 0 0 0 C
O 0 0 O N n N CO O n n Lo 0
0_ 0 0 W N N M 0 M r r M 0 N O
L
3) N y CD m r N 1- N V on r 0
co 09 V 0 0 0 M n M n N a J
to 4 rmwoinoomom IT c o
co
N N N N V Cr) V O n
H 0 0 0 0 0 0 0 0 0 0
0
R O 0
0 0 V V V CO N M (O - N N yo
0 or co O n M of N n 0 C >
J
d §Q N LO N. N- N 0 V 0 0A r e- 10 10
W K — t0 M M or 0 y 0 0 06 0 a
0 To co 6 ,,,cc (O M N V N co r M V 0 0
j or
N M (O fO 0 N r a--. A
LL D U >- 0 O
0 a
<
or
W y0y 0 0 0 0 0 0 01 CD Q 0Q 0 0 0
d r to y V P Cel.- N N r V N.- CO O C N
7 W E m 0 0 C e 0 0 o n .- o N- co or
0 I-- E J jy O M O to N t0 . co t4 n ^ a
O N W co
Z y n co- r 0 r co- 0 0 0 ' O N
a 0
a 0
C O O O O O a O O O O d y
d r2
f03 D D O M D D N CO LC co
3 N CO n r r N 0 0 0 r 5 O
> ` V r O 0 V V n n r CO • O
n n a tp co- M 0 M N N n fo an N
ro 4 V nt$ nninn r r0 0 m
» t
m o 0 0 0 0 0 0 0 0 o c -'
co Q R N r N .- co co co N I e- t0 0
6
p 0 n N N 0 n a N M n O "
0 CO NN-r 0 r N N O e 0-
a h O (D LED In ,n In N 0 .-- co c
3 0
To 0 0 0 0 0 0 0 0 0 0 >`
` ,' rV 10 ,- OV) n MVWr d0-
O.
y 0 n r O M O O n r N to o To
E O . o N a M 0 CO M o 0- C
E• LL 0 0 0 co- co- )(i m ri m W
n 0 V r co V O co M 0 a
o N N M M M V V n n 0
N W W
_ O O O oD O O o O O O er y 0 i c0 co r n n 0 CO r OD V
LC)- V O N N n r O e- f0 C0 W C
o
a
d N V L0 O n co V n co C O O
a O co n r r r r V N O O o
o d• o 0 0 C V t0 0 e- N t0 O0 O T
M 0 or co co 0 in r n 0 12 a
0't or or n t0 r r CO 0 0 N a N N
E. o
o 0000o0SO0e V m ELL
O V 0 CO M n 0 CO O o Y 0 A
NC a co r V V c t0 w t0 of 2
U NI O r n n N M to o t0 0 O 0 y
w J N 0 CO r CO n W 0 n V a, 0 E
> 0 r Oi p co- (O tr O N E
al M V n a0 O M
F 0
co 0 0 Si 0 0 0 0 0 0 8
N Cr) V n CO r
0 0 0 0
J
Y m m N N N N NO N N N 0 0
1O Z
123
COUNTY OF WELD
STATE OF COLORADO
Property Tax Rates Direct and Overlapping Governments
Last Ten Years
Overlapping Rates
Levy Direct City of School Aims Weld
Year County Greeley District 6 College Library
1998 22.040 11.274 49.617 6.320 1.409
1999 22.040 11.274 49.099 6.250 1.449
2000 22.038 10.635 47.315 6.343 3.249
2001 22.038 11.274 46.974 6.351 3.249
2002 20.559 11.274 50.320 6.620 3.249
2003 20.056 11.274 47.981 6.316 3.249
2004 21.474 11.274 46.453 6.322 3.249
2005 19.957 11.274 44.711 6.328 3.249
2006 17.900 11.274 41.129 6.357 3.281
2007 16.804 11.274 40.760 6.330 3.261
The basis for the property tax rates is per$1,000 assessed valuation.
Source: Office of the Weld County Assessor.
124
COUNTY OF WELD
STATE OF COLORADO
Principal Property Taxpayers
2007 1998
Percent Percent
Of Total County Of Total County
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Thermo Cogeneration Partnership Value Rank Value Value Rank Value
Noble Energy Inc $ 628,188,710 1 14.06%
Kerr-McGee Rocky Mountain Corporation 538,938,330 2 12.06%
Encana Oil&Gas Inc 136,417,080 3 3.05%
Petroleum Development Corp 125,643,030 4 2.81%
Public Service Company of Colorado 93,813,600 5 2.10% $ 54,998,700 4 4.25%
Rocky Mountain Energy Center 80,078,300 6 1.79%
Petro-Canada Resources(USA)INC 78,071,550 7 1.75%
Merit Energy 60,877,970 8 1.36%
DCP Midstream LP 48,205,900 9 1.08%
Owens-Brockway Glass Container 36,815,410 10 0.82%
HS Resources Inc 130,955,390 1 8.43%
Patina Oil&Gas Corporation 87,602,530 2 5.64%
Eastman Kodak Company 65,995,310 3 3.54%
Thermo Cogeneration Partnership 26,300,300 5 1.69%
North American Resources Company 22,614,200 6 1.46%
Duke Energy Field Services Inc 17,775,610 7 1.14%
US West Communications Incorporated 17,685,600 8 1.14%
Prima Oil&Gas Company 14,888,980 9 0.96%
RR Donnelley&Sons Company 9,854,490 10 0.63%
$ 1,827,049,880 40.88% $ 448,671,110 28.88%
Source:
Weld County Assessor
125
COUNTY OF WELD
STATE OF COLORADO
Property Tax Levies and Collections
Last Ten Years
Collected within the
Taxes Levied Ficsal Year of the Levy Collections Total Collections to Date
Levy Coiled for the Tax Percent in Subsequent Tax Percent
Year Year Fiscal Year(11 Amount(21 of Lew Years 3 Amount(31 of Levy
1997 1998 32,543,342 32,222,578 99.014% 144 32,222,722 99.015%
1998 1999 34,162,938 34,094,225 99.799% 16,004 34,110,229 99.846%
1999 2000 35,976,391 35,788,843 99.479% 92,122 35,880,965 99.735%
2000 2001 38,774,962 38,275,747 98.713% 53,693 38,329,440 98.851%
2001 2002 45,619,589 45,566,346 99.883% 53,243 45,619,589 100.000%
2002 2003 48,640,425 48,410,396 99.527% 99,691 48,510,087 99.732%
2003 2004 53,350,030 53,094,454 99.521% (230,294) 52,864,160 99.089%
2004 2005 59,680,948 59,395,927 99.522% (48,154) 59,347,773 99.442%
2005 2006 64,636,463 64,580,198 99.913% 56,265 64,636,463 100.000%
2006 2007 70,575,408 70,575,408 100.000% - 70,575,408 100.000%
Source:
1)Final Budget
2)YTD Treasurer's Tax Distribution
3)YTD Treasurer's Tax Distribution 2001 forward. Negative values reflect subsequent rebates and adjustments.
126
COUNTY OF WELD
STATE OF COLORADO
Direct and Overlapping Governmental Activities Debt
December 31,2007
Net General
Obligation Percentage Amount
Bonded Debt Applicable to Applicable to
Jurisdiction Outstanding Government(1) Government
Cities&Towns $ 93,208,676 79.56% $ 74,154,344
Schools 841,011,281 40.18% 337,904,281
Special Districts 137.994,997 75.57% 104.287.762
Total Overlapping $ 1 072 214 954 $ 516 346387
Source: Debt outstanding provided by each governmental unit.
Note:
(1) Overlapping governments are those that coincide, at least in part, with the
geographic boundaries of the county. This schedule estimates the portion of the
outstanding debt of those overlapping governments that is borne by residents and
businesses of Weld County. This process recognizes that, when considering
the county's ability to issue and repay long-term debt, the entire debt burden borne
by the residents and businesses should be taken into account. However, this does
not imply that every taxpayer is a resident, and therefore responsible for repaying
the debt, of each overlapping government.
127
) .- )
] \ )
] a
{ §
§ }
N ei ri i :
co in to
a en en 2 }
co
) - ) ; I ] )
11 O11k } ) § { \ § }
, Z I—
\ \ -j ] co ' )
th - § § , ▪ -
/ § co
� /• {/ 0 ( i
_
» ! »! / ® � - - \
/ \ / - , ] a el
� �
\ \ ca i :fj \
to• a
to .15 In
. /
ft
\ Ee
0 \ \ i- Z0S▪ fa
128
COUNTY OF WELD
STATE OF COLORADO
Private Purpose Revenue Bonds
December 31,2007
INDUSTRIAL REVENUE BONDS:
DEBT REVENUE BOND
TYPE OF ISSUE OUTSTANDING OUSTANDING
ISSUER FACILITY AMOUNT DATF BEGINNING OF YEAR JSSUED RETIRFD END OF YEAR
Waste Service Corporation Landfill $860,000 2/91 $315,000 $0 $70,000 $245,000
Waste Service Corporation Landfill 2,500,000 2/91 1,070,000 0 175,000 895,000
MAK Group,LLC Manufacturing 1,345,000 6/01 1,345,000 0 0 1,345,000
Centennial Area Office
Health Education Central 388,000 5/99 298,500 0 15,721 282,779
GSSLB Association Nursing Home
Nursing Home 2,020,000 10/98 1,425,000 0 115,000 1,310,000
Greeley Center for Therapeutic 1,650,000 9/03 1,466,121 0 61,936 1,404,185
Independence,Inc Center
BSC Hudson Manufacturing 5,715,000 10/05 5,715,000 0 0 5,715,000
North Range Behavioral Health Office 4,500,000 5/07 Q 4 500.000 Q 4 500 000
TOTAL PRIVATE PURPOSE REVENUE BONDS $11 634 621 $4 500 000 $437 657 $15 696 964
129
COUNTY OF WELD
STATE OF COLORADO
Demographic and Economic Statistics
Last Ten Years
Total
Personal Income Per Unemployment
Year Population {$billionl Capita Income Rate
1998 166,547 3.52 21,144 3.90%
1999 174,342 3.89 22,301 3.70%
2000 180,936 4.22 23,016 2.70%
2001 193,929 4.36 22,469 4.00%
2002 202,329 5.02 24,571 6.10%
2003 207,120 5.14 24,279 6.70%
2004 217,652 5.38 25,274 5.40%
2005 221,957 5.79 25,968 5.00%
2006 229,377 5.84 25,495 3.80%
2007 236,908 6.23 26,280 4.63%
Source: Upstate Colorado in cooperation with University of Northern Colorado
and the State of Colorado demographer.
130
COUNTY OF WELD
STATE OF COLORADO
Principal Employers
Current Year and Nine Years Ago
2007 1998
Percent Percent
Of Total County Of Total County
Employees Rank Employment Emolovees Rank Employment
Swift&Company(formerly ConAgra) 3650 1 3.13% 4159 1 5.02%
Northern Colorado Medical Center 2700 2 2.32% 1850 4 2.23%
School District 6 2307 3 1.98% 1750 5 2.11%
State of Colorado(includes UNC) 1723 4 1.48% 2997 2 3.62%
Weld County Government 1490 5 1.28% 1000 7 1.21%
US Government 1400 6 1.20% 2443 2 2.95%
State Farm Insurance Companies 1322 7 1.13% 986 9 1.19%
City of Greeley 1306 8 1.12% 701 10 0.85%
Startek USA 906 9 0.78%
Wal-mart Super Center 856 10 0.73%
Eastman Kodak Company 2439 3 2.94%
Aims Community College 1454 6 1.75%
Hewlett Packard 995 8 1.20%
Total Principal Employers 17,660 15.15% 20,774 25.07%
Other Employers 98,926 84.85% 62,082 74.93%
Total County Employment 116,586 100.00% 82,856 100.00%
Source: Upstate Colorado
Total Employment from Colorado Department of Labor&Employment
131
xr IN (o O 0 O)) N N O r
N CO10
0 r
O
N
LO N.Cb CO (OD It CO CD N
O N N
O L-
N
IT O N COO O N CD N rn
LO
O N N N
O
N
co
QQ c -O
LO CO N (O CD
V co O V V)
DI N N N O 0 V.
O
a N O N
o o) c
a C
O_ CD N co N (NO Li) IN 0 N .0
�i M Cr N r N r O r 2 co
c o r r N
3 O > N
a N TO p
a
L v
in
O N 0 O (+) r C@
@ O O Q O CO 0 N N U) N _
0 >` NI N N N 0 CO
OJ Q d O r r C H
N Ni 2 @
3 K E
Co 0 a
O a
O 0
E a�i v v v v N (0O A) (C) 0) `m
` H I N N N 0 0 CO `
LL0
7 w 0 J N as w
3 a)
r
00 Hi CD = 0)
J R CO CO CO N 0) r 1> M
0 O N N N 0) 0 @
0in
0
C N @
CD O c
> r @
N
O (0 O N O) CO CO r O V
w 0I N (NV r N L- 0) 0 0 0 O
a) N @ r O
E `L.
> L
J 0 LL
01 N N CV N CO N 0 LID N a O 0 U c ma) m rc rn
3
y c O
C) 0 = O)
CC N 'E. c
C C c 0
CO N
E 'o @ )
C 3 V 3 LO
E v I V K 00
O C) ` d@ E c @ a) N
c o . Z E c m a v
E a) w To g > o U 3 U
ca E _ @ w
a 0 a) Y V @ N0 c 1" @ @ > L n
o ca
u) 3@@ E m w m £ @ r d
o U) U o 'L" s- C O c N a U ui Q z w
TO a d
D Ci c .j o j o o D O o o ^ r 0
LL O a a r 0 w H co H (O z " r .
132
COUNTY OF WELD
STATE OF COLORADO
Operating Indicators by Function/Program
Last Eight Years
Fiscal Year
2000 2001 2002 2003 2004 2005 2006 2007
Function/Program
General government:
Motor vehicle registration 478,727 294,019 305,879 433,188 439,146 462,877 466,777 484,412
Registered voters(1) 80,041 79,289 85,161 76,245 98,692 99,711 100,924 88,601
Number of votes cast(2) 65,317 22,422 56,730 32,476 89,099 46,327 68,871 30,203
Percent of registered voters voting 81.6% 28.3% 66.6% 42.6% 90.3% 46.5% 68.2% 34.1%
Public safety:
Adult arrests 1,457 1,520 1,435 2,738 1,387 1,543 1,574 1,606
Juvenile arrests 250 220 337 491 218 206 215 224
Average secure jail population 303 298 330 371 402 455 579 628
E911 calls 55,807 52,000 84,420 72,396 75,276 79,425 92,045 95,524
Building Permits 2,190 2,180 2,082 1,941 2,012 2,082 1,972 2,081
Valuation(thousands) $143,856 $148,426 $125,336 $201,442 $132,178 $104,225 $399,473 $90,446
Public works:
Miles of road graveled 427 440 440 440 401 401 160 359
Snow removal lane miles 1370 1390 1390 1,406 33,710 78,435 125,225 222,703
Grading lane miles 123,718 131,171 131,171 126,000 175,910 165,681 164,906 135,779
Miles of Upgrade-Aggregate Surfaced Roads 26 5 5 8 10 0 10 34
Culverts(new and repaired)1S'and larger 204 240 240 240 217 217 242 250
Tons of asphalt laid 102,221 80,055 80,055 101,243 95,634 95,634 70,421 67,389
Tons of gravel crushed 490,000 500,000 500,000 510,000 487,477 487,477 408,409 411,582
Health and welfare:
Social Services Caseload 9,900 9,900 9,900 9,900 12,000 14,000 14,500 15,000
Patient contacts 17,271 16,207 16,207 14,601 15,000 11,000 30,440 11,880
Immunizations 15,979 17,730 5,848 4,600 7,500 6,900 6,360 7,165
Culture and recreation:
Visitors-Missile Park 700 700 695 558 575 575 586 595
County Fair Exhibitors — 5,000 2,370 2,410 2,410 2.220 2,422 2,326
Economic assistance:
Headstart clients 524 537 577 641 622 562 562 562
Migrant Headstart clients . 250 99 200 146 175 266 266 266
Business-type activities:
Paramedic Services
Patients transported 6,973 6,687 7,027 7,060 7,331 7,284 8,375 8,210
Source:Various Weld County Department records.
Note:
(1)Beginning in 1999 the number of registered voters reflects active voters.
(2)Even years represent general elections,odd years coordinated elections.
133
COUNTY OF WELD
STATE OF COLORADO
Capital Asset Statistics by Function/Program
Last Eight Years
Fiscal Year
2000 2001 2002 2003 2004 2005 2006 2007
Function/Program
General govemment:
Building Square Footage 585,045 604,100 620,310 684,551 684,551 719,723 725,723
Court rooms 9 9 9 9 10 12 18 18
Information Systems Connections 959 997 1,240 1,292 1,292 1,292
Public safety:
Jail capacity(beds) 454 454 454 454 386 386 386 386
Patrol cars 35 36 44 43 42 46 55 55
Radios and cell phones 828 857 947 939 1,140 1,229 1,270
Public works:
Miles of Roads
Paved 665 665 670 679 671 681 675 670
Unpaved 2,490 2,484 2,457 2,438 2,425 2,394 2,387 2,370
Un-maintained 255 254 253 250 252 512 327 492
Grader sheds 18 18 18 18 18 18 18 18
Motor graders 27 27 30 29 30 30 30 30
Health and welfare:
Altemative fuel vehicles 4 4 4 5 6 4 4 4
Economic assistance:
Headstart sites 12 12 12 11 11 11 11 11
Business-type activities:
Paramedic Services
Ambulances 11 11 10 10 10 10 10 11
Source: Weld County Department records and Fixed Asset Inventory
134
COUNTY OF WELD
STATE OF COLORADO
Insurance in Force
December 31,2007
Policy Policy Period Annual
Name of Company Number Begins Expires Details of Coverage Liability Limits Premium
Midwest Employers ECW005661 01/01/07 12/31/07 Excess Worker's Employer's Liability
Casualty Company Compensation $1,000,000/Accident.
Worker's Compensation
Statutory Limits with
County retaining first
$450,000 each claim. $77,050
Lexington 1115700 01/01/07 12/31/07 Property damage, Property: $50,000,000/
(Colorado Counties automobile liabilities, occupancy/$500 deductible.
Casualty&Property general liability,public All Liability: $250,000/person;
Pool) officials. $600,000/claim.
Excess Liability: (Federal and
Out-of-State Only)
$2,750,000/person Excess
$250,000: $600,000/Claim.
St.Paul Fire and Marine GP06301937 Excess Casualty and Excess$400,000
Insurance Company Boiler&Machinery Crime: $150,000/Loss
(Colorado Counties $500 Deductible
Casualty&Property Property Claim
Pool) County retaining first $274,898
$125,000 each claim
135
Single
O '
Audit
fiAt1ti
Ent
COLORADO
alt
BONDI & Co. LLC
44 INVERNESS DRIVE EAST (303)799-6826 PHONE
ENGLEWOOD,COLORADO 80112 CERTIFIED PUBLIC ACCOUNTANTS (800)250-9083 TOLL-FREE
MANAGEMENT CONSULTANTS
www.bondico.com (303)799-6926 FAX
Board of County Commissioners
Weld County
Greeley, Colorado
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
We have audited the financial statements of the governmental activities, the business-type
activities, the aggregate discretely presented component units, each major fund, and the aggregate
remaining fund information of Weld County, Colorado, as of and for the year ended December
31, 2007, and have issued our report thereon dated June 6, 2008. We did not audit the financial
statements of the Weld County Housing Authority, which represents 39 percent, 37 percent, and
67 percent, respectively, of the assets, net assets and revenues of the discretely presented
component units. Those 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
Weld County Housing 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.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered Weld County, Colorado'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 Weld County, Colorado's internal control over financial reporting.
Accordingly, we do not express an opinion on the effectiveness of Weld County, Colorado's
internal control over financial reporting.
A control deficiency 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
misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of
control deficiencies, that adversely affects Weld County, Colorado's ability to initiate, authorize,
record, process, or report financial data reliably in accordance with generally accepted accounting
principles such that there is more than a remote likelihood that a misstatement of Weld County,
Colorado's financial statements that is more than inconsequential will not be prevented or
detected by Weld County, Colorado's internal control.
142
Affiliate Offices Worldwide
!k! !&;}R >E°!! co
)) �_ ■f;-; z- _ §
! N «
)/0 \\/ ()/)) Oeeeee
N-0 8
paw, :cniTi } , ,rOro:z : :° / §.
YoCC
w° ■ sa--- ��°!�
MON0.- ;li�•f »� }, —in ,N ;
j) ,Ol . \`!§:i \\000a ES
—
7[ ; k§!«i5 e, : N.M.;; /
00= or
re
m en
w 0
\..
}m !„00S !. .
)\ \/\ 2a co NO
(/\�}} co- co. ,c rc
CO
6 `
}/j ; ! !�° § � §5/°!- `°d 2 ;
�� ����01-0 EgifiQ \ § ` 2
\\\!\m r�! `\`0 -,z'
\N (
() ,d N -- -000 _®!
\` / \ / } \°\
z - ! —cc z
/ z ! / 0 / 2la -
, 0 * i!
/ 2 : ) !
_ ,°3O. -a2C
I \{ 0 : room!? m .E0E a0 cc
5 5r mcej
/ 28/ § ! §\/{\) } j\§j§ §!§ -
) \ /!! ,,, el _j :I- !
) ,000
,, ` 8000§` 00080 �8
p • <N000.N.-N8o-ommrN 22228°8°§§A2
rpm m88Nm_
�882N my °" move 2 00
a N0 NO NV— — N v N
LL
ReeePe a oF * o eeeo ee *pep eee`ee a^`e e
Z W O '88828888888888888 8 8 88888888888
gv= o88w88o880(000 O 88 od888oSo88880
-
LLa °
0000000N 00000 oo ONO 0000000 0
oww 8 Nwow
j¢Z 2 N o CO_o m OQ m o
rc mw�
U LL W
Q pma
,-
I- N ° ryNN 00 Er 08 IN�mmNmga§m
C mmrvmmmo` o`rv'vn v"viv m mm oomi° 0
a
x
w p v
0888°8 N m 0 m 0 m m 2282 N neon 00 288 g i 0 0 0 O
a_• 0"'00 0) o00NU) 'NN '" Mm0NN 0'C-C N N
0 a
0 0
0 J W
a<m
W 0 Q
000
wJm
0
ur in n m
0W m m CO
tz
w1W en
<a v n
0 U x
O w m N
0 0
o
aN o0
i°mm'N ommmmmn 00 N 'v'0o 8nm m
¢� co 0NNNm 00000 mvoi� ONN
wyw =KW 0 00 na 00NN0 NN m 00r 0'MdM- Nm N 0
0 m 0 w x
00 Ca
Zww
000 e0 a N m o W�Q N N o 8 e 08 2";22820" a
0
800 O N (0 NOW immN m0
gip wrci0 N oN Nry N NNm m
OZ rcmw
ZW ULLWW W0
W Q00
X
WLLW -I p 1
W Z 0<_ W 0 N N 0 N 0 O N N N N N N m N N N N N n N N O0 0 N N
W QI
�0 N
o- ammo 000mmmmmmmmmm mm mm000000000
0 0W
0 C
2LL 0 x
0 O
LLc t
z
j 0w
I
W NU.
2T 0
0• E N 0
a s m m O W o 0
z W u YfJ cw
W N t 0.0.2.0 C O 2.� D O C 2.C m Lp
00 33 m W W W W W m-" m
m m c m 0 m m w m m m a
E m — m m >m >m >m m m m >m 2 0
C
W $ u c $aaa as as as a aaa a
w S em c o 2 2 w a s v a 22222i v 2 a d 0 0
o a 00 co WWWw 0m OW WWWWW > 0 O
an d"g L n m fl 0 0 0 2 2 2 22 O 2 2 Q O O m m
wm��" ' • 0 aW O " `o W co 000 0000000 to $ w
8 ` zgox xm »�xoi>ci000 00 00000c ��_ z =
• t U w 6 S S W s S 0 i( m 0 0 m n w m g 0 0 u c W 8 m b 0 S
W t2.2) ccca-50m � w a � � 00m y w n «a'D m vc' `m g
N 0 Q c `w g g o d m 0 0 0 0 m U O O 0 0 0 0 0$ o' y q ° O
a u a =2 w N 0-0 0 0`o 0 0 0 0 `o 0 0_`m ` >m 10a
re
rE c c E v $.�,_ N a
9?2 c E E 4. ` `w `m `v w `m `m `m `a 6 `v w `m `v m j m $ S- 0
2 t°O n = c c c W W c 2. 5 W c W W W 0 E@ v E E 0
m m a
S00UWLk<22 00000000 00 000000 am Ea 0
�vo Nmnm0N Nmmm Nom N vvoNl,m0O a
O ON f '^"`CNN NN 2288 8 NNN NNNN
JlZI W N NNNNNNNNNNNNN NN NN NN a
a N N
c 000000„„0„„„„„„
0 0000 0 N m 00000
N N N 0000
N N C
w N N NN0 NNo
100
. . "!` '282 8c228
§n 9!
; � (O : , » ,� ; , - -
f) `2)E) 5§ ;/ Z;�: ®e�; 2:®
_ ; ;§ «; 8888 ;l;; 8888;
® §® BB00 #.k#,
i!{ - 00 „r!
d ! ;022 K §ra° ! °
00 000 000
O OO
<O39
W 00§!&R ot ui
- 2!e §p§# # 4;#$# #
(0000
'- ° rN,� » MMN
a.
~l::•O °ON § :! EPO °!!« 0 «I;9 #
!; :� • - : O
jj &§/ ; - :, *w® ;!; ! tor,:�
OOOOOO O N OO O O
}cd
i( l5nla EFS° !:
°!!# # §$5,
CCM WM R E P;|:2; t, \( /!» ,� , (0;0 •
\!Ow 0 - ®
§§§ B G! ° 0 2 ! _;_O
§ uwww
\\ 0> ! : ; , . `: ;
§- !;r§r 0,0 n§§; §4§)
}( f§ „0„ 000 0 \/ o-m- E_ ;0 8888§ /
2
} ! 1 \ \ F Cr
\ $ -
, 2xC k
_ » ; \\ 00 !
gyom
§ ' E ' \ � 2g g3" - fl ; ; !
ter) f)} ; _ -• : 1 — 0
< FF)! !!! § � : {a § _ « °
/mom # | - /§ § / ! w
!UL -! • 0 £Or N !! ; §
8288 \�� 00 „O B!!\ )100) §) !N:„ ; 0 / ;§ [ , II
„ I-
> §E::§ §\\ [E E\:\ §))§ NNNNN
] ~�"` , 00000
� -moNrp main N -N- "0.. N NP EE �omo�m
O O m N Egg A_ - N o. W_N.N W N m m 0 O N 'm.[V m m
SE'S A m W m$"' ry$�8m WPB TEo Pm-8
w
sees e see e e e e e ;-e see e
°- 0888 S 888 p �0�p o N N 008
Ni00 O 000 0 �O r' N - P dR
�pne &-
8 LL
a
N m m N O O O
wwoo M�rvS N6A m A S n W dn"m
pLL.W�V N N N ..i-
0 LL
W
aow
aa V pip p p yp pp m
82** b ET ET T [1 N-N P N A m 0) W m O 8 D 28E 0 P r_R 2 A N 2 T 0 O m)#N
F m8 m --N WT 'E T'S - 6m� n mm N P -W 2'2"*
"'.� A W� N o`�, m ��v-n a n 'o P Nc a °n'm0 „
o N
z of N of m-w-
w
a
`� ER 8 nob Ag ggggg
003_ "n'n'iA'� m- *g6
0 m g "o 000 w0`8 i°�°N'vN
O~ Ov n C N n $m$N° 0 -mo NN+ 'of N2 f "m
-
w o o 8Amo8 8 EE &' oo4 mm o0o nN UgrEDB
F LL 0 MM A 0 N m)- d o-C N O N 8 m mmo
w TM P Ae 'mn M-4 - —N �N
0002 N
WW
0 N mmmm p n m W —O 0,0 0000000
V) W0p0�0 OOCm1 eNe➢➢N N N80 N CNN WOO. 0P.
Fm 1N P` U�O m PM o YnN
O U N N P n N 0 m N P m ... l�l
K w
O
<0 O P O m
In m O n m W m' b n n m o E m m m N "m P N
pM a a N.CT a . < N—. -80 s. W n� EP
¢ aqa MM-e n 'mm m m '" m NONT` P vmi-n m'8 oAm�N -<
ow WW P P Q N W N 8 N
WW W to --
2 W w LL
�OU
W p p p p
N C0mw oo W N i°m.4P N P S W E P 1° <n' O
w=o j Lt 2 m = N "' m N N $ m m _
K
2m ULL'
wW
%Q a o a
Wj
OI au 'ooA AAAonW �ommm WWm mW mm Won WWm^
w, K O ]y(
J W 0 w m m m m m m m m m mom m m m m m -m m m m mm m m m 0-m m m m
0 w w 0
m
2
0
N
O
b
cc
a
U
c
a m _ E o U '�-.L
a w m o 'c w
ti o m w N ry
m m c m LLm m o
o c a a ¢ 2 `�- c 'm E E E E E Ts
- E ¢ _ E
~ Q,"w, ary wnwc ">_ v ! t
t7 (� o A(7o oC� o E vg fi E o<
c w cinf 2< g a 5 $ o m?( IW m1Su a` ;1 Wa` owc v ti 2Yea
> S c 28 .c o 2
E m rn o w 5 ^FF'a ° c a m 0 y g w '� E m c m m m .22 €'5 Hi
0 E W 3_''_
S Q w m w r n v uwi Q N IS
m n c 2 m a t a n o
o a c a y m u i o m t' m m t v¢ t¢ E m¢ 2 .Q a E i „‹< .
a
a w E E m t.Y m °y - o N m m w 8 m N 0-
b $m U E
4cVgv«ww a p s ' e„
lll* w1m11 = m sfl ! g at 888 ax om zuz o LLga,
0000< oa000'- ti 000 Oa<w2 woE 2w LLE UO o <2<
E022 1 20T 888 88888 888 88 88 888 888888
z .... N ...
8 NON N N N N N N N N N fl;g
N
z N N N N N N
LL
W
0NON N NNN 8 ONO SSry(N8 NON NO N88
N 888 888888
138
! `E \»;&
\/ \ \ m �N °`N
`- ` 8 ; ; E ;;l;
))/ ! B ! 88« B:-°
}wz\ o : _ a ~ °M6 -
0 0 ; f §; 700M !
_: ==§m ,
§ ! ) : u N ^# !
en « 0 a) (0E §§r: #
)) § § [ �» `+H !
CC
0
!°! «
ist it °
Ow WW< - 0 0 2 FA ~N P#N F
CC
LL L ` —
o
;$)§ 8 T :;2! :
\\/ ` ! ) ,
)( (( \ 8 j \ §- (§-
)
(( |
\ , ) ;
! / § u. {� !) !
! <‹ cI; 0
§ - � f •§!) (
` ` w E} mk )/rr w
a § ^ § — �
_ ® E : )\)8
§ \ " ~ CO\ )) !!§§ /
] N0 N0
0
` \ §E (§§K
Board of County Commissioners
Weld County
Greeley, Colorado
A material weakness is a significant deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that a material misstatement of the financial statements
will not be prevented or detected by Weld County, Colorado's internal control.
Our consideration of the internal control over financial reporting was for the limited purpose
described in the first paragraph of this section and would not necessarily identify all deficiencies
in the internal control that might be significant deficiencies and, accordingly, would not
necessarily disclose all significant deficiencies that are also considered to be material weaknesses.
We did not identify any deficiencies in internal control over financial reporting that we consider to
be material weaknesses, as defined above.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Weld County, Colorado'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 matters that are required to be reported under Government Auditing
Standards.
We noted certain matters that we reported to management of Weld County, Colorado, in a
separate letter dated May 19, 2008.
This report is intended solely for the information and use of the County Commissioners,
management, others within the County, and federal awarding agencies and pass-through entities
and is not intended to be and should not be used by anyone other than these specified parties.
V"ai, 44. az.
June 6, 2008 BONDI& Co. ac
143
8
BONDI & Co. LLc
44 INVERNESS DRIVE EAST (303)799-6826 PHONE
ENGLEWOOD,COLORADO 80112 CERTIFIED PUBLIC ACCOUNTANTS (800)250-9083 TOLL-FREE
MANAGEMENT CONSULTANTS
www.bondico.com (303)799-6926 FAX
Board of County Commissioners
Weld County
Greeley, Colorado
Report on Compliance with Requirements Applicable to Each
Major Program and Internal Control Over Compliance
in Accordance with OMB Circular A-133
Compliance
We have audited the compliance of Weld County, Colorado, with the types of compliance
requirements described in the U. S. Office of Management and Budget (OMB) Circular A-133
Compliance Supplement that are applicable to each of its major federal programs for the year
ended December 31, 2007. Weld County, Colorado's major federal programs are identified in the
summary of auditors' 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 Weld County, Colorado's management.
Our responsibility is to express an opinion on Weld County, Colorado'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 Weld County, Colorado'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 of Weld County, Colorado's
compliance with those requirements.
As described in item 07-1 in the accompanying schedule of rmdings and questioned costs, the
County did not comply with program eligibility determination requirements that are applicable to
the Temporary Assistance for Needy Families (TANF) program. Compliance with such
requirements is necessary, in our opinion, for the County to comply with the requirements
applicable to the program.
144St RAF
Affiliate Offices Worldwide
Board of County Commissioners
Weld County
Greeley, Colorado
In our opinion, except for the noncompliance described in the preceding paragraph, Weld
County, Colorado, complied, in all material respects, with the requirements referred to above
that are applicable to each of its major federal programs for the year ended December 31, 2007.
Internal Control Over Compliance
The management of Weld County, Colorado, is responsible for establishing and maintaining
effective internal control over compliance with the requirements of laws, regulations, contracts
and grants applicable to federal programs. In planning and performing our audit, we considered
Weld County, Colorado's internal control over compliance with the 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, 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 Weld County, Colorado's internal control over
compliance.
A control deficiency in Weld County, Colorado's internal control over compliance 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 noncompliance with a type of compliance
requirement of a federal program on a timely basis. A significant deficiency is a control
deficiency, or combination of control deficiencies, that adversely affects Weld County, Colorado's
ability to administer a federal program such that there is more than a remote likelihood that
noncompliance with a type of compliance requirement of a federal program that is more than
inconsequential will not be prevented or detected by Weld County, Colorado's internal control.
We consider the deficiency described in the accompanying schedule of findings and questioned
costs to be a significant deficiency in internal control over compliance. The significant deficiency
is identified as finding 07-01.
A material weakness is a significant deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that material noncompliance with a type of compliance
requirement of a federal program will not be prevented of detected by Weld County, Colorado's
internal control.
Our consideration of internal control over compliance was for the limited purpose described in the
first paragraph of this section and would not necessarily identify all deficiencies in internal control
that might be significant deficiencies or material weaknesses. We did not identify any deficiencies
in internal control over compliance that we consider to be material weaknesses, as defined above.
Weld County, Colorado's responses to the fmdings identified in our audit are described in the
accompanying schedule of findings and questioned costs. We did not audit Weld County,
Colorado's responses, and accordingly, we express no opinion on them.
145
Board of County Commissioners
Weld County
Greeley, Colorado
This report is intended solely for the information and use of the County Commissioners,
management, others within the County, and 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.
644; "C. u c.
June 6, 2008 BONDI& Co.ac
146
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the Year Ended December 31, 2007
Section I- Summary of Auditors' Results
Financial Statements
Type of auditors' report issued: Unqualified
Internal control over financial reporting:
Material weakness(es) identified? yes r no
Significant deficiency(ies) identified not
considered to be material weaknesses? yes v no
Noncompliance material to financial
statements noted? yes r no
Federal Awards
Internal control over major programs:
Material weaknesses) identified? yes r no
Significant deficiency(ies) identified not
considered to be material weaknesses? r yes no
Type of auditors' report issued on compliance
for major programs: Qualified
Any audit findings disclosed that are required
to be reported in accordance with Circular A-133,
Section .510(a)? r yes _ no
Identification of major programs:
CFDA Number(s) Name of Federal Program or Cluster
10.551 Food Stamp Program
10.561 Food Stamp Administration
17.258 WIA Adult Program
17.259 WIA Youth Activities
17.260 WIA Dislocated Workers
93.558 Temporary Assistance for Needy Families
93.563 Child Support Enforcement
93.568 Low-Income Home Energy Assistance
93.658 Foster Care - Title IV-E
Dollar threshold used to distinguish between
Type A and Type B programs: $1,939,500
Auditee qualified as low-risk auditee? r yes no
147
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
For the Year Ended December 31, 2007
Section II —Financial Statement Findings
There were no findings relating to the audit of the County's basic financial statements
that are required to be reported under generally accepted government auditing standards.
Section HI - Federal Award Findings and Questioned Costs
07-01 - CFDA No. 93.558 Temporary Assistance for Needy Families (TANF)
Program Eligibility Determination
Pass Through the State of Colorado Department of Human Services
Federal Agency: Department of Health and Human Services
Criteria:
TANF participants must have a current Individual Responsibility Contract (IRC),
immunization records for children covered by the program, proof of work or
participation in work program, and cooperate with child support enforcement in order to
be determined eligible for the TANF program.
Condition and Context:
We tested a sample of twenty-five case files. Five files did not contain an IRC, nine files
did not contain immunization records, twelve files did not have proof of investigation of
other income through the state data system, and eight files did not contain proof of
cooperation with Child Enforcement Agency.
Cause:
Inconsistent management and review of case files allows for a lack of required
documentation to be present in the file. The transfer of documents between Social
Services and the imaging contractor is not adequate and documents are not being filed
correctly in the system or documents are being lost.
Effect:
Without current and proper documentation in the file, there is the ability for ineligible
participants to receive benefits. This program is designed to be a temporary assistance,
which increases the need to verify current data.
148
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
For the Year Ended December 31, 2007
Section III - Federal Award Findings and Questioned Costs (Continued)
Recommendation:
We recommend the County implement procedures to review case files to ensure all
required documents are present and filed to support eligibility of the program. All
documents should be retained or imaged according to County policy to support the
program requirements.
Questioned Costs:
Cannot be determined.
Managements Response & Corrective Actions:
After the field work was completed, Department staff reviewed the Department's imaging
system and identified several cases that had the applicable Individual Responsibility
Contracts, current immunization records, and/or Department of Labor screen prints in it.
The Department will provide additional training to all Colorado Works eligibility staff on
the rules and regulations to ensure that all applicable cases have Individual Responsibly
Contracts, current immunization records, documentation that ensures the client is
cooperating with Child Support and that either screen prints from the Department of
Labor or case comments are in Colorado Benefit Management System noting that there
was no income for the specified period of time. Further, the Department will provide
additional training to staff on what document types to use when imaging documents and
will continue to stress the importance of using accurate and consistent index values on
each case.
In future audits, the Department will have management staff sit with the audit team to
identify the required documents in imaging if requested.
149
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
For the Year Ended December 31, 2007
Section IV - Prior Year Findings
06-01 - CFDA No. 93.563 Child Support Enforcement IV-D
Child Support Insurance
Pass Through the State of Colorado Department of Human Services
Federal Agency: Department of Health and Human Services
Criteria:
The State IV-D agency must attempt to secure medical support information and establish
and enforce medical support obligations for all individuals eligible for services under 45
CFR Section 302.33. Specifically, the State IV-D agency must determine whether the
custodial parent and child have satisfactory health insurance other than Medicaid. If not,
the agency must petition the court or administrative authority to include medical support
in the form of health insurance coverage in all new or modified orders for support.
Condition and Context:
From 30 selected samples tested, three cases did not have documentation to support
insurance coverage of the child(ren). In all cases, insurance was ordered to be maintained
for the child(ren); however, no steps were taken by the Department of Social Services to
ensure compliance.
Cause:
There is a lack of required oversight of ordered insurance.
Effect:
The ordered insurance is for the protection of the child(ren).
Recommendation:
We recommend the Department of Social Services require additional oversight in order to
ensure compliance with court ordered stipulations.
Auditor Response:
This item has been corrected based on the 2007 audit testing performed.
150
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
For the Year Ended December 31, 2007
Section IV - Prior Year Findings (Continued)
06-02 — CFDA No. 93.658 Foster Care — Title IV-E
Foster Care Income Determination
Pass Through the State of Colorado Department of Human Services
Federal Agency: Department of Health and Human Services
Criteria:
A child must meet the eligibility requirements of the former Aid to Families with
Dependent Children (AFDC) program (42 USC 672(a)). Eligibility ceases at the child's
18th birthday (45 CFR Section 233.90(b)(3)). To be eligible for the Foster Care Program,
families must meet income standards set by the federal program.
Condition and Context:
When reviewing one file out of a sample of 25 participants, we found that the income
verification section of the original determination was blank.
Cause:
There was a lack of oversight on the file that allowed an original determination to be
processed without documenting the income verification in the file.
Effect:
Without documentation of income used to support eligibility, benefits could be paid to
ineligible participants.
Recommendation:
We recommend the Department ensure all program participant income is validated with
appropriate supporting documentation.
Auditor Response:
This item has been corrected based on the 2007 audit testing performed.
151
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
For the Year Ended December 31, 2007
Section IV - Prior Year Findings (Continued)
06-03 - CFDA No. 10.561 Food Stamp Administration
Pass Through the State of Colorado Department of Human Services
Federal Agency: Department of Health and Human Services
Criteria:
Entities that use Electronic Benefits Transfer (EBT) must have systems in place to
reconcile all of the funds entering into, exiting from, and remaining in the system each
day with the organization's benefit account with Treasury and EBT contractor records.
This includes a reconciliation of the organization's issuance files of postings to recipient
accounts with the EBT contractor.
Condition and Context:
We reviewed 25 participants and found the daily reconciliations required under EBT
regulations are not being followed. Weekly reconciliations were prepared on the EBT
Cards through September. Beginning in October 2006, the County came into compliance
with the requirement to perform daily reconciliations.
Cause:
Due to staffing levels and case loads, the Department was not able to prepare a daily
reconciliation.
Effect:
Without a daily reconciliation of EBT cards, there is increased potential for fraudulent
activity between reconciliations.
Recommendation:
In order to ensure compliance with EBT Regulations, a daily reconciliation of EBT cards
should take place.
Auditor Response:
This item has been corrected based on the 2007 audit testing performed.
152
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
For the Year Ended December 31, 2007
Section IV - Prior Year Findings (Continued)
06-04, 05-6 - CFDA No. 93.558 Temporary Assistance for Needy Families (TANF)
Program Eligibility Determination
Pass Through the State of Colorado Department of Human Services
Federal Agency: Department of Health and Human Services
Criteria:
TANF participants must have a current Individual Responsibility Contract (IRC), as well
as provide immunization records for children covered by the program.
Condition and Context:
We tested a sample of eleven files. In the sample, we found one file did not contain an
IRC, one file did not contain immunization records, and one file could not be located by
the County. The County believes the file was destroyed years ago.
Cause:
Inconsistent management of case files allow a lack of required documentation to be
present in the file.
Effect:
Without current and proper documentation in the file, there is the ability for ineligible
participants to receive benefits. This program is designed to be a temporary assistance,
which increases the need to verify current data.
Recommendation:
We recommend the Department ensure all program participants are validated with
appropriate supporting documentation.
Questioned Costs:
Cannot be determined.
Auditors Response:
Still a finding in 2007 - see 07-01
153
COUNTY OF WELD
STATE OF COLORADO
NOTES TO SCHEDULE OF FEDERAL EXPENDITURES OF FEDERAL AWARDS
December 31, 2007
NOTE 1: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards, which
includes the federal grant activity of the County of Weld, Colorado, is
presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of the 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 the Weld County, Colorado's financial statements for
the year ended December 31, 2007.
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, 2007, the
County had food commodities totaling $301,579 in inventory, with a
corresponding amount reported as deferred revenue to be realized when
distributed.
NOTE 3: SUB-RECIPIENT
The County does not have any significant sub-recipients.
154
Hello