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Home My WebLink About20021475.tiff ►1 t s 7 0 'to b Sst. 18O r FINANCIAL STATEMENTS Year Ended December 31, 2001 ANdERSON ©WI-iTNEy ■ • ■ (. "�7rp-ey,,ef��,� 2002-1475 46 TOWN OF BERTHOUD, COLORADO _ FINANCIAL STATEMENTS Year Ended December 31, 2001 TABLE OF CONTENTS - Independent Auditors' Report 1 GENERAL PURPOSE FINANCIAL STATEMENTS COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS . . . . 2 COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES 6 COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES 8 _ COMBINED STATEMENT OF REVENUE, EXPENSES AND CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES AND _ SIMILAR TRUST FUNDS 9 COMBINED STATEMENT OF CASH FLOWS - ALL PROPRIETARY FUND TYPES 10 NOTES TO FINANCIAL STATEMENTS 11 - ADDITIONAL INFORMATION 27 CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS ADVISORS ANdERSON 1001 Ninth Avenue • `/ Greeley. Colorado 80631-4046 © HITNE 7 (970)352-7990 • FAX(970)352-1855 "c Website. awhltney.com • • • • • Independent Auditors' Report The Mayor and Members of the Board of Trustees Town of Berthoud Berthoud, Colorado We have audited the accompanying general purpose financial statements of the Town of Berthoud, Colorado as of and for the year ended December 31, 2001, as listed in the table of contents. These financial statements are the responsibility of the Town's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in 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 financial statements.An audit also includes assessing the accounting principles used and significant estimates made by management,as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly,in all material respects, the financial position of the Town of Berthoud as of December 31, 2001, and the results of its operations and the cash flows of its proprietary fund types and similar trust funds for the year then ended, in conformity with accounting principles generally accepted in the United States. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining statements and individual fund statements and schedules on pages 23-63 and the Local Highway Finance Report are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Town of Berthoud. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. During 2001,the Town adopted the provisions of Governmental Accounting Standards Board Statement No. 33, which requires capital contributions, such as tap and dedication fees, to be accounted for as revenue instead of additions to contributed capital. March 20, 2002 MEMBERS OF AVFRCAN IeSI lIE OF CER'!nrD AU3LIC FO COI -1- TOWN OF BERTHOUD, COLORADO COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUP Governmental Fund Types Special Debt — December 31, 2001 General Revenue Service ASSETS — Cash and temporary investments $ 125,416 $ 1,871,001 $ - Restricted Cash 80,530 - 9,587 Receivables (net): Taxes 401,188 76,622 - Accounts 11,510 13,564 - Grants 13,291 — Assessments - - - Investments - - - Advances to Other Funds 59,262 - - — Debt Issuance Costs - - - Fixed Assets: Land, buildings, and improvements - - - — Street improvements Utility system - - - Equipment - - - — Water rights - - - Accumulated depreciation - - - Amount to be Provided for the Retirement of — General Long-Term Debt - - - TOTAL ASSETS $ 691,197 $ 1,961,187 $ 9,587 — Continued on page 4. -2- — Proprietary Fiduciary Account Fund Type Fund Type Groups — Trust and General General Memorandum Enterprise Agency Fixed Assets Long-Term Debt Total $ 2,144,930 $ 116,393 $ - $ - $ 4,257,740 277,830 - - - 367,947 — - - - 477,810 145,386 - - - 170,460 — 13,291 220,181 - - - 220,181 58,249 - - - 58,249 — 377,000 - - - 436,262 131,945 - - - 131,945 — 96,341 - 2,337,527 - 2,433,868 3,836,631 - 3,836,631 14,909,857 - - - 14,909,857 621,439 - 1,438,703 - 2,060,142 461,914 - - - 461,914 (3,886,738) - - - (3,886,738) — - - 141,197 141,197 $ 15,558,334 $ 116,393 $ 7,612,861 $ 141,197 $ 26,090,756 — -3- TOWN OF BERTHOUD, COLORADO COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUP - Continued Governmental Fund Types Special Debt — December 31, 2001 General Revenue Service LIABILITIES — Accounts Payable $ - $ 333 $ - Accrued Interest Payable Deferred Revenue 333,400 20,719 - Advances from Other Funds - 436,262 - Long-Term Debt Compensated Absences - - - Total Liabilities 333,400 457,314 - EOUITY AND OTHER CREDITS Investment in General Fixed Assets Contributed Capital Retained Earnings Fund Balances: Reserved for: Employee retirement - - - — TABOR emergencies 55,300 7,666 - Debt service - - 9,587 Unreserved: — Undesignated 302,497 1,496,207 - Total Equity and Other Credits 357,797 1,503,873 9,587 TOTAL LIABILITIES, EQUITY, AND OTHER CREDITS $ 691,197 $ 1,961,187 $ 9,587 See Accompanying Notes to Financial Statements. -4- — Proprietary Fiduciary Account Fund Type Fund Type Groups — Trust and General General Memorandum Enterprise Agency Fixed Assets Long-Term Debt Total $ 16,665 $ - $ - $ - $ 16,998 74,348 - - - 74,348 — - - - 354,119 - - - 436,262 6,510,669 - - 96,929 6,607,598 — - - - 44,268 44,268 6,601,682 - - 141,197 7,533,593 - 7,612,861 - 7,612,861 8,343,424 - - - 8,343,424 — 613,228 - - - 613,228 — - 116,393 - - 116,393 - - 62,966 - - - - 9,587 - - - - 1,798,704 8,956,652 116,393 7,612,861 - 18,557,163 — $ 15,558,334 $ 116,393 $ 7,612,861 $ 141,197 $ 26,090,756 -5- TOWN OF BERTHOUD, COLORADO COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES General Fund Estimate/ — Year Ended December 31, 2001 Actual Budget Variance Revenue: — Taxes $ 1,229,784 $ 1,155,940 $ 73,844 Licenses and permits 10,576 9,000 1,576 Intergovernmental 224,154 181,487 42,667 — Charges for services 144,080 151,050 (6,970) Fines and forfeitures 80,136 48,000 32,136 Miscellaneous 154,604 210,197 (55,593) — Total Revenue 1,843,334 1,755,674 87,660 Expenditures: General government 421,835 446,866 25,031 Public safety 380,722 325,476 (55,246) Cemetery - Parks 116,725 130,528 13,803 Library - Recreation 312,452 296,452 (16,000) _ Museum 34,255 36,338 2,083 Streets 291,303 306,404 15,101 Building department 96,100 124,308 28,208 _ Planning department 139,573 126,835 (12,738) Capital outlay 79,373 158,180 78,807 Debt service - Total Expenditures 1,872,338 1,951,387 79,049 Revenue Over (Under) Expenditures (29,004) (195,713) 166,709 Other Financing Sources: — Operating transfers in 126,000 138,000 (12,000) Operating transfers out (14,000) (14,000) Total Other Financing Sources 112,000 124,000 (12,000) Revenue and Other Financing Sources Over(Under) Expenditures 82,996 (71,713) 154,709 — Fund Balances, January 1, 2001 274,801 274,801 - Fund Balances, December 31, 2001 $ 357,797 $ 203,088 $154,709 See Accompanying Notes to Financial Statements. — -6- — Special Revenue Funds Debt Service Fund Estimate/ Estimate/ Actual Budget Variance Actual Budget Variance $ 597,704 $ 541,000 $ 56,704 $ - $ - $ - - 65,379 48,260 17,119 - - - 217,919 431,930 (214,011) - - - - 139,310 77,900 61,410 7,500 - 7,500 1,020,312 1,099,090 (78,778) 7,500 - 7,500 9,746 11,094 1,348 - - - - 160,516 165,539 5,023 - - - 590,619 1,138,310 547,691 - - - 140,183 140,183 - 72 72 - - 901,064 1,455,126 554,062 72 72 - 119,248 (356,036) 475,284 7,428 (72) 7,500 113,000 113,000 - - - - (99,000) (114,000) 15,000 - - - 14,000 (1,000) 15,000 - - - - 133,248 (357,036) 490,284 7,428 (72) 7,500 1,370,625 1,370,625 - 2,159 2,159 - - $ 1,503,873 $ 1,013,589 $ 490,284 $ 9,587 $ 2,087 $ 7,500 7 TOWN OF BERTHOUD, COLORADO - COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES - Special Debt Memorandum Year Ended December 31, 2001 General Revenue Service Total — Revenue: Taxes $ 1,229,784 $ 597,704 $ - $ 1,827,488 — Licenses and permits 10,576 - - 10,576 Intergovernmental 224,154 65,379 - 289,533 Charges for services 144,080 217,919 - 361,999 — Fines and forfeitures 80,136 - - 80,136 Miscellaneous 154,604 139,310 7,500 301,414 Total Revenue 1,843,334 1,020,312 7,500 2,871,146 — Expenditures: Current: — General government 421,835 - - 421,835 Public safety 380,722 - - 380,722 Cemetery - 9,746 - 9,746 — Parks 116,725 - - 116,725 Library - 160,516 - 160,516 Museum 34,255 - - 34,255 _ Recreation 312,452 - - 312,452 Streets 291,303 - - 291,303 Building department 96,100 - - 96,100 Planning department 139,573 - - 139,573 Capital outlay 79,373 590,619 - 669,992 Debt service - 140,183 72 140,255 Total Expenditures 1,872,338 901,064 72 2,773,474 Revenue Over (Under) Expenditures (29,004) 119,248 7,428 97,672 Other Financing Sources: — Operating transfers in 126,000 113,000 - 239,000 Operating transfers out (14,000) (99,000) - (113,000) Total Other Financing Sources 112,000 14,000 - 126,000 — Revenue and Other Financing Sources Over (Under) Expenditures 82,996 133,248 7,428 223,672 — Fund Balances, January 1, 2001 274,801 1,370,625 2,159 1,647,585 Fund Balances, December 31, 2001 $ 357,797 $ 1,503,873 $ 9,587 $ 1,871,257 - See Accompanying Notes to Financial Statements. -8- - TOWN OF BERTHOUD, COLORADO COMBINED STATEMENT OF REVENUE, EXPENSES AND CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS Proprietary Fiduciary — Fund Type Fund Type Pension Memorandum Year Ended December 31, 2001 Enterprise Trust Total Operating Revenue: Charges for services $ 1,495,417 - 1,495,417 — Interest - 6,915 6,915 Total Operating Revenue 1,495,417 6,915 1,502,332 — Operating Expenses: Chemicals 194,598 - 194,598 Personnel 299,923 - 299,923 _ Supplies 24,284 - 24,284 Contract services 22,581 - 22,581 Utilities 105,439 - 105,439 — Repairs and maintenance 194,629 194,629 Insurance 55,168 - 55,168 Professional fees 69,939 - 69,939 Other 7,566 - 7,566 Depreciation 433,401 - 433,401 Total Operating Expenses 1,407,528 - 1,407,528 Operating Income 87,889 6,915 94,804 Nonoperating Revenue (Expenses): — Tap and dedication fees 343,996 - 343,996 Capital outlay (53,307) - (53,307) Investment earnings 136,857 - 136,857 Debt issuance costs (9,302) - (9,302) Interest expense (351,854) - (351,854) Net Nonoperating Revenue (Expenses) 66,390 - 66,390 Income Before Operating Transfers 154,279 6,915 161,194 Operating Transfers Out (126,000) - (126,000) — Net Income 28,279 6,915 35,194 Retained Eamings/Fund Balance, January 1, 2001 584,949 109,478 694,427 Retained Eamings/Fund Balance, December 31, 2001 $ 613,228 $ 116,393 $ 729,621 See Accompanying Notes to Financial Statements. — -9- TOWN OF BERTHOUD, COLORADO COMBINED STATEMENT OF CASH FLOWS - ALL PROPRIETARY FUND TYPES Proprietary Fund Type Year Ended December 31, 2001 Enterprise Cash Flows from Operating Activities: Cash received from customers $ 1,495,417 — Cash payments: To suppliers for goods and services (674,204) To employees for services (299,923)Net Cash Provided by Operating Activities 521,290 Cash Flows from Noncapital Financing Activities: — Operating transfers out - General Fund (126,000) Cash Flows from Capital and Related Financing Activities: Acquisition of capital assets (844,696) — Principal paid on bonds and notes (301,225) Interest paid on bonds and notes (410,103) Service tap and dedication fees 343,996 Net Cash Used by Capital and Related Financing Activities (1,212,028) Cash Flows from Investing Activities: — Miscellaneous (53,306) Interest income 153,201 Net Cash Provided by Investing Activities 99,895 Net Decrease in Cash (716,843) Cash and Cash Equivalents, January 1, 2001 3,139,603 — Cash and Cash Equivalents, December 31, 2001 $ 2,422,760 Reconciliation of Operating Income to Net Cash Provided by Operating Activities: — Operating Income (Loss) $ 87,889 Depreciation 433,401 Change in assets and liabilities: _ (Increase) decrease in: Accounts receivable - Increase (Decrease) in: Accounts payable - — Net Cash Provided by Operating Activities $ 521,290 See Accompanying Notes to Financial Statements. -10- - TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 1 - Summary of Significant Accounting Policies: The accounting and reporting policies of the Town of Berthoud, Colorado conform to generally accepted accounting principles. The following summary of significant accounting policies is presented to assist the reader in evaluating the Town's financial statements. Reporting Entity: The financial report of the Town includes all of the integral parts of the Town's operations. The Town has determined that it has no financial accountability for any other agency which would require it to be in the reporting entity. Proceeds from the seizure of contraband, if any, are included in the reporting entity. Basis of Presentation: Each fund is an independent fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources together with all related liabilities, residual equities and balances which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations,restrictions, or limitations. In addition to the funds, a self-balancing account group is established to account for the general fixed assets of the Town. The various funds are grouped into four generic fund types under three broad fund categories as follows: Governmental Funds: All governmental funds are accounted for on a spending or"financial flow"measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance(net current assets) is considered a measure of"available spendable resources". Governmental fund operating statements present increases(revenue and other financing sources)and decreases(expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of"available spendable resources" during a period. Proprietary Funds: All proprietary funds are accounted for on a cost of services or "capital maintenance" measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Their reported fund equity(net total assets)is segregated into contributed capital and retained earnings/fund balance components. Proprietary fund type operating statements present increases(revenue)and decreases(expenses)in net total assets. The government applies applicable FASB pronouncements issued on or before November 30, 1989 in accounting and reporting for its proprietary operations. -11- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS - NOTE 1 - Summary of Significant Accounting Policies - Continued: Fiduciary Funds: _ Trust and Agency Funds: Trust and Agency Funds are established to account for assets held by the Town in the capacity of trustee, agent, or custodian for individuals, and other funds. — Account Groups: — In addition to the funds, self-balancing account groups are established to account for the general fixed assets and general long-term debt of the Town. An account group is not a "fund". It is concerned only with the measurement of financial position. It is not involved — with measurement of results of operations. Fixed Assets and Long-Term Liabilities: The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus as discussed above. — Fixed Assets: All fixed assets are valued at historical cost or estimated historical cost if actual historical — cost is not available. Contributed fixed assets are recorded at their estimated fair market value at the time received. It is the Town's policy to capitalize all capital expenditures over $500. Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in governmental — funds. Acquisitions of general fixed assets are recorded as capital outlay expenditures within the governmental funds. Public domain ("infrastructure") general fixed assets consisting of roads, bridges and rights-of-way are capitalized and included in general — fixed assets. No depreciation has been provided on general fixed assets. Fixed assets used by proprietary funds are capitalized in the appropriate proprietary fund. Depreciation is charged as an expense against their operations and accumulated depreciation is reported on proprietary fund balance sheets. Depreciation has been _ provided using the straight line method over the estimated useful lives as follows: Buildings and plant 30-40 years Improvements other than buildings 20-60 years — Equipment and vehicles 5-30 years -12- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 1 - Summary of Significant Accounting Policies - Continued: Fixed Assets and Long-Term Liabilities - Continued: Long-Term Liabilities: Long-term debt is recognized as a liability of a governmental fund when due. For other long-term liabilities,only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the general long-term debt account group. Long-term liabilities expected to be financed from proprietary fund operations are accounted for in those funds. Basis of Accounting: Basis of accounting refers to when revenue and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. The governmental funds utilize the modified accrual basis of accounting. Revenue is recognized in the accounting period in which it becomes both measurable and available as net current assets. Revenues that are susceptible to accrual, that is, are measurable and available to finance the Town's operations, consist primarily of interest, sales taxes, and charges for services. Grant revenues are recognized to the extent of eligible expenditures incurred. Expenditures are generally recognized when the related fund liability is incurred. The proprietary funds and the nonexpendable trust fund follow the accrual basis of accounting. Revenue is recognized in the year in which it is earned. Expenses are recorded when liabilities are incurred. Property Taxes: Property taxes are levied in December and attach as an enforceable lien on property as of January 1 of the following year. Taxes are payable in two installments on March 1 and June 15, or in full on April 30. The Town uses the Larimer County Treasurer to bill and collect its property taxes. Taxes levied in December 2001 are recorded as taxes receivable and deferred revenue as of December 31, 2001. The original January 1, 2001 levy for the General Fund of the Town was 5.867 mills or approximately $226,281. -13- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 1 - Summary of Significant Accounting Policies - Continued: Budget:An annual budget and appropriation ordinance is adopted by the Town Board in accordance with the Local Government Budget Law. The budget is prepared on a basis consistent with generally accepted accounting principles for all funds, except for — modifications in the enterprise funds which are discussed below. The fund level of classification is the level at which expenditures may not legally exceed appropriations. All annual appropriations lapse at year end. — The Town Administrator is authorized to transfer budgeted amounts within departments of each fund. Any revisions that alter the total appropriation for each department must be — approved by the Town Board through a supplemental appropriation ordinance. There was one supplemental appropriation in 2001. Budgets are adopted on a basis consistent with generally accepted accounting principles (GAAP), except for the enterprise funds: a. Depreciation and amortization expense is not budgeted in the enterprise funds. b. Principal reduction of bonds are budgeted as expenses. c. Property and equipment purchases are budgeted as expenses. — Budgetary comparisons presented in the enterprise funds are on this non-GAAP budget basis. A reconciliation between the GAAP basis and the budget basis is presented below — for the enterprise funds. Water Wastewater Funds Funds Schedule of Expenses Compared to Budget: — Total expenses $ 1,032,841 $ 987,642 Depreciation and amortization expense (254,229) (188,474) Debt reduction 196,225 105,000 — Fixed asset purchases 52,718 650,679 $ 1,027,555 $ 1,554,847 — The Town may be in violation of the Colorado Revised Statutes due to the overexpenditure of budget appropriations in the Conservation Trust Fund. At December 31, 2001, the Cemetery Endowment Fund had a deficit fund balance of $12,183,the Public Facilities Fund had a deficit fund balance of$59,262 and the Wastewater Fund had deficit retained earnings of$60,599. The deficit fund balances will be reduced by — decreases in expenditures, increasing fees, and transfers from other funds. -14- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 1 - Summary of Significant Accounting Policies - Continued: Encumbrances: Encumbrance accounting,under which purchase orders,contracts,and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration in the governmental funds. Encumbrances outstanding at year end, if any, are reported as reservations of fund balances since they do not constitute expenditures or liabilities. An appropriation is made in the subsequent year to provide authority to complete the transaction. Inventories: Inventories of governmental funds, which consist of expendable materials held for consumption,are stated at cost,determined by the first-in, first-out(FIFO)method. These funds follow the consumption method of accounting whereby expenditures are recorded at the time the inventory items are used. Interfund Transactions: Residual equity transfers represent nonrecurring or nonroutine transfers of equity between funds. All other interfund transfers are recorded as operating transfers. Pooled Cash: Certain cash resources of the various funds are combined and deposited in an interest bearing bank account. Interest income earned on the pooled account is allocated to the funds. If a fund's share of the pooled cash is a deficit, a Due to Other Funds account is established. Employee Vacation and Sick Leave: Accumulated vacation benefits for employees are recorded in General Long-Term Debt. Employees also receive sick leave. No accrual of liability is made for employees with less than ten years of service as accumulations do not vest and are not recognized as expenditures by the Town until used. Employees with at least ten years of service will be paid 1/3 of accumulated sick leave up to a maximum of 320 hours. 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 ending December 31, 2002. -15- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 1 - Summary of Significant Accounting Policies - Continued: Statement of Cash Flows: — For purposes of the statement of cash flows, the Town considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. General Purpose Financial Statements: The General Purpose Financial Statements present a combined overview of all generic fund — types and the account groups of the Town. The total columns are captioned memorandum total to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or cash flows in conformity with generally accepted accounting principles. Such data are not comparable to a consolidation as interfund eliminations have not been made in the aggregation of this data. NOTE 2 - Changes in General Fixed Assets: Balance, Balance, — 1/1/01 Additions Deletions 12/31/01 Land, buildings, and improvements $ 2,205,485 $ 132,042 $ -- $ 2,337,527 Machinery and equipment 1,418,098 169,959 149,354 1,438,703 Curb, gutter, and paving 3,698,966 137,665 -- 3,836,631 — Total General Fixed Assets $ 7,322,549 $ 439,666 $ 149,354 $ 7,612,861 NOTE 3 - Long-Term Debt: December 31 2001 Enterprise Funds: — $2,910,000, Series 1997, Water Revenue Bonds, serial bonds due in varying annual installments through 2017; average interest at 5% $ 2,520,000 $2,895,000, Series 1997, Wastewater Revenue Bonds, serial bonds due in varying annual installments through 2017; average interest at 5% 2,205,000 — $1,135,000, Series 1982, General Obligation Water Bonds; due in varying annual installments through 2021; interest at 5% 834,000-16- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 3 - Long-Term Debt- Continued: December 31 2001 Enterprise Funds - Continued: _ Loan from Colorado Water Resource and Power Development Authority, due in monthly installments averaging $8,400 through 2009, average interest 5.6% $ 638,666 Unsecured note payable to purchase water rights,interest at 7%, due in monthly payments of$4,955 through 2004 13,003 Total Enterprise Fund Long-Term Debt 6,510,669 General Long-Term Debt: Note payable to purchase land, interest at 10%, due in monthly payments of$5,969 through 2003 5,969 Capital lease payable for street sweeper, interest at 5.13%, due in annual payments of$20,127 through 2006 90,960 Total Long-Term Debt $ 6,607,598 The annual requirements to amortize this debt as of December 31, 2001 are as follows: Year Ending December 31 Principal Interest Total 2002 $ 336,443 $ 332,572 $ 669,015 2003 338,852 321,114 659,966 2004 356,543 304,676 661,219 2005 374,757 287,272 662,029 2006 397,950 268,747 666,697 Thereafter 4,803,053 1,665,158 6,468,211 $ 6,607,598 $ 3,179,539 $ 9,787,137 Changes in Enterprise Fund long-term debt during the year were as follows: Balance, Balance, _ 1/1/01 Additions Deletions 12/31/01 Water Revenue Bonds $ 2,625,000 $ -- $ 105,000 $ 2,520,000 Wastewater Revenue Bonds 2,610,000 -- 105,000 2,505,000 General Obligation Water Bonds 856,000 -- 22,000 834,000 Water rights loans 16,783 -- 3,780 13,003 CWRPDA loan 704,111 -- 65,445 638,666 Total 6,811,894 $ -- $ 301,225 $ 6,510,669 -17- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 3 - Long-Term Debt- Continued: Changes in general long-term debt during the year were as follows: — Balance, Balance, 1/1/01 Additions Deletions 12/31/01 Capital lease $ -- $ 90,960 $ -- $ 90,960 Compensated absences 34,268 10,000 -- 44,268 _ Land purchase loan 143,796 -- 137,827 5,969 $ 178,064 $ 100,960 $ 137,827 $ 141,197 NOTE 4 - Defined Contribution Plan:The Town provides pension benefits through a defined contribution plan for all of its full- time employees who have elected to participate. This plan is administered by ICMA. In a — defined contribution plan, benefits depend solely on amounts contributed to the plan plus investment earnings. Employees are eligible to participate in the plan after one year of service. — The Town contributes five percent of compensation with the employee making no contribution. The Town's contributions for each employee (and interest allocated to the — employee's account)are fully vested after five years continuous service. Town contributions (including interest) forfeited by employees who leave employment before five years of service are used to reduce the Town's current-period contribution requirement. — The payroll for employees covered by the plan for 2001 was $846,630; the Town's total payroll was $1,218,961. The Town made the required 5% contribution, amounting to $42,332. — NOTE 5 - Cash and Investments: — The Town's bank accounts and certificates of deposit at year-end were entirely covered by federal depository insurance or by collateral held by the Town's custodial banks under — provisions of the Colorado Public Deposit Protection Act. The Colorado Public Deposit Protection Act requires financial institutions to pledge — collateral having a market value of at least 102%of the aggregate public deposits not insured by federal depository insurance. Eligible collateral includes municipal bonds, U.S. government securities, mortgages and deeds of trust. — State statutes authorize the Town to invest in obligations of the U.S. Treasury and U.S. agencies, obligations of the State of Colorado or of any county, school district, and certain — towns and cities therein, notes or bonds secured by insured mortgages or trust deeds, obligations of national mortgage associations, and certain repurchase agreements. -18- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 5 - Cash and Investments - Continued: The Town's investments are categorized to give an indication of the level of risk assumed. Category One includes investments that are insured or registered or for which the securities are held by the Town or its agent in the Town's name. Category Two includes uninsured and — unregistered investments for which the securities are held by the counterparty,or by its trust department or agent in the Town's name. Category Three includes uninsured and unregistered investments for which the securities are held by the counterparty,or by its trust — department or agent, but not in the Town's name. Category Carrying Market — December 31, 2001 1 2 3 Amount Value Repurchase Agreements $ -- $ 4,087,714 $ -- $ 4,087,714 $ 4,087,714 In addition,the Town has invested$220,181 in the Colorado Government Liquid Asset Trust (COLOTRUST), an investment vehicle established by state statute for local governmental — entities in Colorado to pool surplus funds for investment purposes. COLOTRUST operates similarly to a money market fund and each share is equal in value to $1. Investment pools are monitored by the Colorado Division of Securities with regard to operations and — investments. — NOTE 6 - Segment Information for Enterprise Funds: The Town maintains two enterprise fund groups which provide water and wastewater — services to residents. Segment information is as follows: Total — Water Wastewater Enterprise Year Ended December 31, 2001 Funds Funds Funds Operating revenue $ 757,421 $ 737,996 $ 1,495,417 Depreciation 248,701 184,700 433,401 Operating income (loss) (19,377) 107,266 87,889 Operating transfers out 63,000 63,000 126,000 Net income 18,415 9,864 28,279 Property and equipment additions 49,823 794,873 844,696 Total assets 9,146,065 6,412,269 15,558,334 Net working capital 1,530,046 377,048 1,907,094 Bonds and other long-term liabilities 3,800,002 2,400,000 6,200,002 — Retained earnings 411,625 201,603 613,228 Total equity 5,092,025 3,864,627 8,956,652 -19- TOWN OF BERTHOUD, COLORADO NOTES TO FINANCIAL STATEMENTS NOTE 7 - Commitments and Contingencies: The Town is exposed to various risks of loss related to torts; theft of, damage to, and — destruction of assets;errors and omissions;injuries to employees;and natural disasters.The Town purchases commercial insurance for risks of loss in excess of deductible amounts. Settled claims have not exceeded this coverage in any of the past three fiscal years. — No assessments were available to pay the Bein Special Development District 1985-1 bonds at maturity in 1996. The real estate securing the bonds was previously sold by the County — Treasurer for unpaid property taxes. The only source of repayment is excess funds, if any, in future special improvement districts. Thus, the bonds were deleted from general long- term debt. — In 1992 Colorado voters approved "Amendment One", or the Taxpayer's Bill of Rights (TABOR). TABOR requires voter approval for any new tax, tax rate increase, mill levy — increase, or new debt. Voter approval is also required to increase annual property taxes, revenue,or spending by more than inflation plus a local growth factor. Spending not subject to TABOR includes that from enterprise activities,gifts,federal funds,reserve expenditures, — damage awards, or property sales. In 1994, the electors of the Town of Berthoud voted to supercede TABOR and to collect, — retain, and expend the full proceeds of all taxes, fees, and other revenue without increasing or adding taxes of any kind. The Amendment is complex and subject to judicial interpretation. The Town believes it is in compliance with the applicable requirements of the Amendment. Included in the accompanying financial statements are emergency reserves required by TABOR, of at least 3% of fiscal year spending in the General and Special Revenue Funds. The Town has committed to purchase a conservation easement for $200,000, of which $100,937 had not been paid at December 31, 2001. -20- TOWN OF BERTHOUD, COLORADO GENERAL FUND The Town's General Fund is used to account for its financial activities that are not properly included in other funds. Primary revenue sources are taxes, user charges, and transfers from other funds for services rendered. Activities accounted for in the General Fund include general government and administration activities; police service; pool, parks, and recreation; street maintenance; building inspection; planning; and economic development. -21- TOWN OF BERTHOUD, COLORADO GENERAL FUND — Schedule of Revenue Compared with Estimate Year Ended December 31, 2001 Actual Estimate Variance Taxes: General property $ 213,548 $ 215,500 $ (1,952) Franchise and severance tax 67,685 41,000 26,685 - Sales and use 891,810 847,680 44,130 Specific ownership 49,229 45,760 3,469 Cigarette 7,512 6,000 1,512 — Total Taxes 1,229,784 1,155,940 73,844 Licenses and permits 10,576 9,000 1,576 Intergovernmental: Highway users tax 140,785 141,687 (902) Road and Bridge 42,431 39,800 2,631 - COPS Grant 40,938 - 40,938 Total Intergovernmental 224,154 181,487 42,667 Charges for Services: — Recreation and park fees 99,342 109,650 (10,308) Gymnastic fees 3,861 - 3,861 Swimming pool fees 38,282 39,600 (1,318) — Park fees 2,595 1,800 795 Total Charges for Services 144,080 151,050 (6,970) — Fines and Forfeitures: Court 80,136 48,000 32,136 Miscellaneous: — Interest 8,925 17,000 (8,075) Building and plan check fees 73,414 133,200 (59,786) Procedural and professional fees 35,524 45,000 (9,476) - Sale of equipment 3,736 - 3,736 Street assessments 3,824 - 3,824 Donations 15,572 - 15,572 — Dental/vision contributions 13,609 14,997 (1,388) Total Miscellaneous 154,604 210,197 (55,593) Total Revenue $ 1,843,334 $ 1,755,674 $ 87,660 -22- TOWN OF BERTHOUD GENERAL FUND - Schedule of Expenditures Compared with Budget Year Ended December 31, 2001 Actual Budget Variance — General Government: Current operating: Salaries and benefits $ 225,337 $ 205,361 $ (19,976) — Economic development 871 10,000 9,129 Repair and maintenance 19,975 26,900 6,925 Municipal judge 9,250 9,500 250 — Senior citizens 7,500 10,000 2,500 Municipal court 7,171 4,400 (2,771) Office supplies 9,178 10,000 822 Telephone and utilities 13,765 16,255 2,490 Office expenses 11,914 15,000 3,086 Travel 4,670 7,650 2,980 Dues 2,512 4,000 1,488 — Publications 6,027 2,000 (4,027) Insurance 58,134 54,000 (4,134) Audit fees 6,833 8,000 1,167 — Legal fees 24,545 50,000 25,455 Election expenses 4,548 4,100 (448) Chamber of Commerce 8,000 8,000 - Other 1,605 1,700 95 Total General Government 421,835 446,866 25,031 Public Safety: — Current operating: Salaries and benefits 337,037 280,476 (56,561) Telephone and utilities 5,720 6,300 580 — Repairs and small equipment 5,011 4,900 (111) Auto expense 11,348 9,000 (2,348) Office supplies 4,962 4,000 (962) — Other 3,431 6,300 2,869 Cleaning 2,779 2,800 21 Animal control 3,165 4,500 1,335 Insurance 5,643 5,000 (643) — Travel 1,626 2,200 574 Total Public Safety 380,722 325,476 (55,246) — Parks: Current operating: Salaries and benefits 54,165 55,474 1,309 — Other 215 350 135 Telephone and utilities 6,480 4,550 (1,930) Repairs and maintenance 25,246 29,000 3,754 - Supplies 303 500 197 Total Parks 86,409 89,874 3,465 Continued on next page. — -23- TOWN OF BERTHOUD GENERAL FUND _ Schedule of Expenditures Compared with Budget - Continued Year Ended December 31, 2001 Actual Budget Variance Recreation: — Current operating: Salaries and benefits $ 161,919 $ 152,566 $ (9,353) Repairs and maintenance 6,791 6,500 (291) — Operating supplies 17,645 18,300 655 Advertising and printing 5,186 3,000 (2,186) Utilities and telephone 9,131 8,300 (831) — Equipment 14,336 22,320 7,984 Other 1,918 2,738 820 Total Recreation 216,926 213,724 (3,202) -- Pools: Current operating: Salaries and benefits 30,296 27,000 (3,296) — Telephone and utilities 4,871 3,400 (1,471) Repairs and maintenance 13,034 6,800 (6,234) Operating supplies 394 100 (294) — Other 3,803 2,300 (1,503) Total Pools 52,398 39,600 (12,798) Gymnastics: — Other 43,128 43,128 - Total Gymnastics 43,128 43,128 - Total Recreation 312,452 296,452 (16,000) — Museum: Current operating: Salaries and benefits 25,298 25,298 - — Supplies 259 620 361 Dues, publications 163 250 87 Telephone and utilities 3,486 2,500 (986) — Repairs and maintenance 4,035 6,000 1,965 Exhibits 638 1,300 662 Other 376 370 (6) _ Total Museum 34,255 36,338 2,083 Street Department: Current operating: — Salaries and benefits 154,235 160,904 6,669 Street lighting 42,657 45,000 2,343 Repair and maintenance - equipment 20,000 20,000 - — Vehicle expense 9,473 7,600 (1,873) Office expense 1,229 2,000 771 Professional services 4,802 10,000 5,198 — Telephone and utilities 3,514 3,300 (214) Repairs and maintenance - streets 43,484 44,600 1,116 Other 11,909 13,000 1,091 — Total Street Department 291,303 306,404 15,101 Continued on next page. — -24- TOWN OF BERTHOUD GENERAL FUND Schedule of Expenditures Compared with Budget - Continued Year Ended December 31, 2001 Actual Budget Variance — Building Department: Current operating: Salaries and benefits $ 72,197 $ 70,008 $ (2,189) — Professional services 7,775 19,000 11,225 Other 1,947 10,400 8,453 Contract inspection 9,725 18,000 8,275 - Supplies 1,180 4,200 3,020 Repairs and maintenance 1,447 1,500 53 Telephone and utilities 1,829 1,200 (629) — Total Building Department 96,100 124,308 28,208 Planning Department: Current operating: — Salaries and benefits 38,475 69,985 31,510 Supplies 3,279 5,500 2,221 Fees 9,016 7,750 (1,266) — Dues, publications 164 300 136 Telephone and utilities 869 800 (69) Professional fees 86,157 40,000 (46,157) — Other 1,434 1,500 66 Repairs and maintenance 179 1,000 821 Total Planning Department 139,573 126,835 (12,738) Park Planning/Forestry: Current operating: Salaries and benefits 7,974 15,954 7,980 - Supplies 107 500 393 Dues, publications 2,365 2,500 135 Telephone and utilities 386 250 (136) — Repairs and maintenance 19,329 21,250 1,921 Other 155 200 45 Total Park Planning/Forestry 30,316 40,654 10,338 Miscellaneous: Current operating: — Transportation (2,490) - 2,490 Vision 3,955 3,700 (255) Dental 6,338 9,000 2,662 Capital outlay 71,570 145,480 73,910 Total Miscellaneous 79,373 158,180 78,807 — Total Expenditures $ 1,872,338 $ 1,951,387 $ 79,049 - -25- .......... TOWN OF BERTHOUD, COLORADO GENERAL FUND Schedule of Other Financing Sources Compared with Estimate Year Ended December 31, 2001 Actual Estimate Variance Operating Transfers In (Out): Water Funds $ 63,000 $ 63,000 $ - Wastewater Funds 63,000 63,000 Density Transfer Fees - 12,000 (12,000) Library Fund (14,000) (14,000) - Total Other Financing Sources $ 112,000 $ 124,000 $ (12,000) -26- - TOWN OF BERTHOUD, COLORADO SPECIAL REVENUE FUNDS _ Cemetery Endowment Fund I This fund collects revenue for the current operation and perpetual care of the Town's cemetery. Interest income and perpetual care fees are retained within the fund. Other revenue is used to finance current cemetery expenditures. Conservation Trust Fund I This fund is used to account for the receipt and expenditure of the Town's proceeds from the state lottery. Lottery funds are required to be used for acquisition,development,and maintenance of conservation sites. Drainage Fund This fund collects revenue specifically to be used for improvements to the Town's storm drainage system. It is anticipated that assets will accumulate in this fund for various storm drainage improvement projects. Street Improvement Fund This fund collected sales and use tax revenue through June 30, 1994, specifically approved for street improvements to 2'd and 4th streets. Public Facilities Fund I This fund is used to account for the receipt and expenditure of fees specifically collected to maintain and develop public facilities. Park Development Fund I This fund is used to account for the receipt and expenditure of fees specifically collected to maintain and develop local parks. Park Dedication Fund 9 This fund is used to account for the receipt and expenditure of fees specifically collected to purchase land for parks. Library Fund I This fund accounts for the financial activities of the Town's library. The amounts reported include those spent by the Town on behalf of the library and those spent directly by the Library Board. Larimer County Open Space Fund This fund accounts for the Larimer County Open Space sales tax allocated to the Town required to be used for acquisition,protection, improvement,and long-term maintenance of open space,natural areas,wildlife habitat, parks, and trails. 1% Sales Tax Fund I This fund accounts for the additional 1% sales tax required to be used for street improvements, recreation, open space, transportation, and library expenditures. -27- TOWN OF BERTHOUD, COLORADO SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET Conservation Street Cemetery Trust Drainage Improvement December 31, 2001 Endowment Fund Fund Fund — ASSETS Cash $ 53,817 $ 76,519 $ 127,645 $ 674,428 — Taxes Receivable _ Accounts Receivable - - 13,564 - TOTAL ASSETS $ 53,817 $ 76,519 $ 141,209 $ 674,428 J,TAB II,ITIES Accrued Liabilities _ - - Deferred Revenue - - - -- — Advances from Other Funds 66,000 - - 311,000 Total Liabilities 66,000 - - 311,000 — FUND BALANCES Reserved for Emergencies - - 3,562 - — Unreserved and Undesignated (12,183) 76,519 137,647 363,428 Total Fund Balances (Deficit) (12,183) 76,519 141,209 363,428 TOTAL LIABILITIES AND FUND BALANCES (DEFICIT) $ 53,817 $ 76,519 $ 141,209 $ 674,428 -28- - Public Park Park Larimer Facilities Development Dedication Library County Open 1% Sales Fund Fund Fund Fund Space Fund Tax Fund Total $ - $ 141,716 $ 183,371 $ 96,674 $ 324,532 $ 192,299 $ 1,871,001 - 20,719 - 55,903 76,622 13,564 $ - $ 141,716 $ 183,371 $ 117,393 $ 324,532 $ 248,202 $ 1,961,187 333 - - 333 - 20,719 - - 20,719 59,262 - - - - - 436,262 59,262 - - 21,052 - - 457,314 1,199 475 2,430 - - 7,666 (59,262) 140,517 182,896 93,911 324,532 248,202 1,496,207 (59,262) 141,716 183,371 96,341 324,532 248,202 1,503,873 $ - $ 141,716 $ 183,371 $ 117,393 $ 324,532 $ 248,202 $ 1,961,187 -29- TOWN OF BERTHOUD, COLORADO SPECIAL REVENUE FUNDS - COMBINING STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCES - Conservation Street _ Cemetery Trust Drainage Improvement Year Ended December 31, 2001 Endowment Fund Fund Fund Revenue: — Taxes $ - $ - $ - $ - State lottery proceeds - 39,783 - - Grants 12,336 - - — Interest income 1,710 6,044 3,707 39,838 Drainage fees - - 115,042 - Public facilities fees - - - - — Park development fees - - - - Park dedication fees - - - - Cemetery fees 28,884 - - - — Contributions - - - - Other - - - _ Total Revenue 30,594 58,163 118,749 39,838 — Expenditures: Personnel 2,446 - - _ — Capital outlay - 154,940 26,166 12,270 Other 7,300 - - - Total Expenditures 9,746 154,940 26,166 12,270 — Excess of Revenues Over (Under) Expenditures 20,848 (96,777) 92,583 27,568 Other Financing Sources (Uses): Operating transfers in (out) - - - - Total Other Sources (Uses) - - - - — Excess of Revenue and Other Sources Over(Under) Expenditures and Other Uses 20,848 (96,777) 92,583 27,568 — Fund Balances (Deficit) - January 1 (33,031) 173,296 48,626 335,860 Fund Balances (Deficit) - December 31 $ (12,183) $ 76,519 $141,209 $ 363,428 -30- - Public Park Park Larimer - Facilities Development Dedication Library County Open 1% Sales Fund Fund Fund Fund Space Fund Tax Fund Total $ - $ - $ - $ 20,419 $ 120,181 $ 457,104 $ 597,704 39,783 - - - - 13,260 - - 25,596 (2,447) 6,328 7,853 6,293 11,443 11,332 92,101 - 115,042 - 38,535 - - - - - 38,535 27,458 - - - - 27,458 - 8,000 - - - 8,000 - - 28,884 6,180 - 33,061 - - 39,241 - 7,968 - - 7,968 - 36,088 39,966 15,853 81,001 131,624 468,436 1,020,312 - 93,807 - - 96,253 - 25,000 27,848 - 6,451 23,364 321,031 597,070 140,183 - - 60,258 - - 207,741 - 165,183 27,848 160,516 23,364 321,031 901,064 (129,095) 12,118 15,853 (79,515) 108,260 147,405 119,248 - - 113,000 - (99,000) 14,000 - - - - 113,000 - (99,000) 14,000 - (129,095) 12,118 15,853 33,485 108,260 48,405 133,248 69,833 129,598 167,518 62,856 216,272 199,797 1,370,625 - $ (59,262) $ 141,716 $ 183,371 $ 96,341 $ 324,532 $ 248,202 $ 1,503,873 -31- TOWN OF BERTHOUD, COLORADO CEMETERY ENDOWMENT FUND — Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual — Year Ended December 31, 2001 Actual Budget Variance — Revenue: Interest income $ 1,710 $ 1,000 $ 710 — Lot sales 15,384 7,000 8,384 Grave opening and closing 9,600 6,000 3,600 Perpetual care fees 3,900 1,400 2,500 — Total Revenue 30,594 15,400 15,194 Expenditures: — Salaries and benefits 2,446 4,844 2,398 Utilities 149 150 1 Gas and oil 450 500 50 _ Repairs and maintenance 6,701 5,500 (1,201) Other - 100 100 Total Expenditures 9,746 11,094 1,348 — Excess of Revenue Over(Under) Expenditures 20,848 4,306 16,542 Fund Balance (Deficit) - January 1 (33,031) (33,031) - _ Fund Balance (Deficit) - December 31 $ (12,183) $ (28,725) $ 16,542 -32- — TOWN OF BERTHOUD, COLORADO CONSERVATION TRUST FUND Statement of Revenue, Expenditures, and Changes in Fund Balance - - Budget and Actual Year Ended December 31, 2001 Actual Budget Variance Revenue: State lottery proceeds $ 39,783 $ 35,000 $ 4,783 Interest income 6,044 4,000 2,044 Grants 12,336 - 12,336 — Total Revenue 58,163 39,000 19,163 Expenditures: Parks improvements 154,940 144,274 (10,666) Excess of Revenue Over(Under) Expenditures (96,777) (105,274) 8,497 Fund Balance - January 1 173,296 173,296 - Fund Balance, December 31 $ 76,519 $ 68,022 $ 8,497 -33- TOWN OF BERTHOUD, COLORADO DRAINAGE FUND Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual — Year Ended December 31, 2001 Actual Budget Variance — Revenue: Drainage fees $ 115,042 $ 105,370 $ 9,672 - Interest 3,707 500 3,207 Total Revenue 118,749 105,870 12,879 Expenditures: Drainage projects 26,166 60,150 33,984 Excess of Revenue Over(Under) Expenditures 92,583 45,720 46,863 — Fund Balance - January 1 48,626 48,626 - Fund Balance - December 31 $ 141,209 $ 94,346 $ 46,863 - -34- - TOWN OF BERTHOUD, COLORADO _ STREET IMPROVEMENT FUND Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2001 Actual Budget Variance Revenue: Interest income $ 39,838 $ 8,000 $ 31,838 Total Revenue 39,838 8,000 31,838 Expenditures: Street projects 12,270 323,636 311,366 Excess of Revenue Over (Under) Expenditures 27,568 (315,636) 343,204 Fund Balance - January 1 335,860 335,860 - Fund Balance - December 31 $ 363,428 $ 20,224 $343,204 -35- TOWN OF BERTHOUD, COLORADO PUBLIC FACILITIES FUND _ Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2001 Actual Budget Variance — Revenue: Interest $ (2,447) $ 7,500 $ (9,947) — Public facility fees 38,535 121,920 (83,385) Total Revenue 36,088 129,420 (93,332) _ Expenditures: Improvements 25,000 25,000 - Debt service 140,183 140,183 - — Total Expenditures 165,183 165,183 - Excess of Revenue Over(Under) Expenditures (129,095) (35,763) (93,332) — Fund Balance - January 1 69,833 69,833 - Fund Balance - December 31 $ (59,262) $ 34,070 $ (93,332) - -36- - TOWN OF BERTHOUD, COLORADO PARK DEVELOPMENT FUND Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2001 Actual Budget Variance Revenue: _ Interest $ 6,328 $ 6,000 $ 328 Contributions 6,180 - 6,180 Park development fees 27,458 174,240 (146,782) — Total Revenue 39,966 180,240 (140,274) Expenditures: Park development 27,848 80,450 52,602 Excess of Revenue Over(Under) Expenditures 12,118 99,790 (87,672) Fund Balance - January 1 129,598 129,598 - Fund Balance - December 31 $ 141,716 $ 229,388 $ (87,672) -37- TOWN OF BERTHOUD, COLORADO PARK DEDICATION FUND Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual — Year Ended December 31, 2001 Actual Budget Variance — Revenue: Park dedication fees $ 8,000 $ 16,000 $ (8,000) - Interest 7,853 900 6,953 Total Revenue 15,853 16,900 (1,047) Expenditures - - - Excess of Revenue Over(Under) Expenditures 15,853 16,900 (1,047) Fund Balance - January 1 167,518 167,518 Fund Balance - December 31 $ 183,371 $ 184,418 $ (1,047) -38- - TOWN OF BERTHOUD, COLORADO LIBRARY FUND Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2001 Actual Budget Variance Revenue: _ Taxes $ 20,419 $ 16,000 $ 4,419 Larimer County grant 13,260 13,260 - Interest income 6,293 3,000 3,293 Contributions 33,061 3,000 30,061 Other 7,968 9,000 (1,032) Total Revenue 81,001 44,260 36,741 Expenditures: Personnel 93,807 97,090 3,283 Telephone and utilities 12,375 9,200 (3,175) Library materials 31,574 31,900 326 Supplies 3,617 3,349 (268) Advertising 3,734 5,200 1,466 — Repairs and maintenance 4,789 5,100 311 Other 4,169 4,200 31 Capital outlay 6,451 9,500 3,049 Total Expenditures 160,516 165,539 5,023 Excess of Revenue Over(Under) Expenditures (79,515) (121,279) 41,764 '" Other Financing Sources: Operating transfers in: General Fund 14,000 14,000 - - 1% Sales Tax Fund 99,000 99,000 - Excess of Revenue and Other Sources Over (Under) Expenditures 33,485 (8,279) 41,764 Fund Balance - January 1 62,856 62,856 - _ Fund Balance - December 31 $ 96,341 $ 54,577 $ 41,764 — -39- TOWN OF BERTHOUD, COLORADO LARIMER COUNTY OPEN SPACE FUND _ Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2001 Actual Budget Variance — Revenue: Taxes $ 120,181 $ 100,000 $ 20,181 — Grants - - - Interest 11,443 10,000 1,443 Total Revenue 131,624 110,000 21,624 — Expenditures: Capital outlay 23,364 69,300 45,936 — Total Expenditures 23,364 69,300 45,936 Excess of Revenue Over(Under) Expenditures 108,260 40,700 67,560 _ Fund Balance - January 1 216,272 216,272 - Fund Balance - December 31 $ 324,532 $ 256,972 $ 67,560 - -40- - TOWN OF BERTHOUD, COLORADO _ 1% SALES TAX FUND Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual Year Ended December 31, 2001 Actual Budget Variance Revenue: Sales taxes $ 457,104 $ 425,000 $ 32,104 Interest 11,332 25,000 (13,668) Total Revenue 468,436 450,000 18,436 Expenditures: Transportation 26,250 35,500 9,250 _ Street improvements 138,960 250,000 111,040 Land 109,250 100,000 (9,250) Recreation center planning 41,797 50,000 8,203 Other 4,774 - (4,774) Total Expenditures 321,031 435,500 114,469 Excess (Deficit) of Revenue Over Expenditures 147,405 14,500 132,905 Other Financing Uses: Operating transfer to Library Fund (99,000) (114,000) 15,000 Excess of Revenue Over(Under) Expenditures and Other Uses 48,405 (99,500) 147,905 Fund Balance - January 1 199,797 199,797 - Fund Balance - December 31 $ 248,202 $ 100,297 $ 147,905 -41- I TOWN OF BERTHOUD, COLORADO DEBT SERVICE FUND Improvement District#1985:11 This fund accounts for the collection of special assessments and related interest earnings and for the payment of debt service on special assessment bonds for District#1985-1. -43- TOWN OF BERTHOUD, COLORADO SPECIAL IMPROVEMENT DISTRICT #85-1 Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget and Actual — Year Ended December 31, 2001 Actual Budget Variance Revenue: Interest income $ 95 $ - $ 95 — Assessment interest 7,405 - 7,405 Total Revenue 7,500 - 7,500 Expenditures: — Miscellaneous 72 72 - Excess of Revenue Over(Under) Expenditures 7,428 (72) 7,500 — Fund Balance - January 1 2,159 2,159 - Fund Balance - December 31 $ 9,587 $ 2,087 $ 7,500 - -44- - • TOWN OF BERTHOUD, COLORADO ENTERPRISE FUNDS Water Fund These funds account for the activity of operating the Town's domestic water utility. Wastewater Fund These funds account for the activity of operating the Town's domestic wastewater utility. -45- TOWN OF BERTHOUD, COLORADO ENTERPRISE FUNDS Combining Balance Sheet Water Wastewater December 31, 2001 Funds Funds Total ASSETS Current Assets: Cash $ 1,721,385 $ 423,545 $ 2,144,930 — Accounts receivable 53,992 91,394 145,386 Interest receivable Total Current Assets 1,775,377 514,939 2,290,316 Restricted Assets: Bond proceeds cash - 277,830 277,830 — Loan proceeds investment 220,181 - 220,181 Total Restricted Assets 220,181 277,830 498,011 Property, Plant, and Equipment: Land 30,217 66,124 96,341 Utility system 7,185,404 6,677,681 13,863,085 _ Equipment 443,116 178,323 621,439 Water rights 461,914 - 461,914 Drainage system 1,046,772 - 1,046,772 _ 9,167,423 6,922,128 16,089,551 Accumulated depreciation (2,128,476) (1,758,262) (3,886,738) Total Property, Plant,and Equipment 7,038,947 5,163,866 12,202,813 Other Assets: Assessments receivable - 58,249 58,249 Debt issuance costs 71,560 60,385 131,945 Advance to: Street Improvement Fund - 311,000 311,000 Cemetery Endowment Fund 40,000 26,000 66,000 Total Other Assets 111,560 455,634 567,194 - TOTAL ASSETS $ 9,146,065 $ 6,412,269 $ 15,558,334 Continued on the next page. -46- — TOWN OF BERTHOUD, COLORADO _ ENTERPRISE FUNDS Combining Balance Sheet - Continued Water Wastewater December 31, 2001 Funds Funds Total j,TABTT,ITIES Current Liabilities: — Accrued interest payable $ 45,159 $ 29,189 $ 74,348 Arbitrage payable 3,212 13,453 16,665 Current portion of long-term liabilities 205,667 105,000 310,667 Total Current Liabilities 254,038 147,642 401,680 Long-Term Liabilities: — Bonds and notes payable 3,800,002 2,400,000 6,200,002 Total Liabilities 4,054,040 2,547,642 6,601,682 — FUDN EQUITY Contributed Capital 4,680,400 3,663,024 8,343,424 Retained Earnings 411,625 201,603 613,228 — Total Fund Equity 5,092,025 3,864,627 8,956,652 TOTAL LIABILITIES AND FUND EQUITY $ 9,146,065 $ 6,412,269 S 15,558,334 -47- TOWN OF BERTHOUD, COLORADO ENTERPRISE FUNDS — Combining Statement of Revenue, Expenses, and Changes in Retained Earnings Water Wastewater Year Ended December 31, 2001 Funds Funds Total — Operating Revenue - Charges for services $ 757,421 $ 737,996 $ 1,495,417 — Operating Expenses: Chemicals 194,598 - 194,598 — Personnel 137,534 162,389 299,923 Supplies 10,314 13,970 24,284 Contractual services 4,416 - 4,416 _ Utilities 40,026 65,413 105,439 Repairs and maintenance 53,198 141,431 194,629 Insurance 27,584 27,584 55,168 Professional fees 38,067 31,872 69,939 — Water assessments 18,165 - 18,165 Other 4,195 3,371 7,566 Depreciation 248,701 184,700 433,401 — Total Operating Expenses 776,798 630,730 1,407,528 Operating Income (Loss) (19,377) 107,266 87,889 — Nonoperating Revenue (Expenses): Tap and dedication fees 280,286 63,710 343,996 Capital outlay (35,827) (17,480) (53,307) -' Investment earnings 76,549 60,308 136,857 Debt issuance costs (5,528) (3,774) (9,302) Interest expense (214,688) (137,166) (351,854) Net Nonoperating Revenue (Expenses) 100,792 (34,402) 66,390 _ Income (Loss) before Operating Transfer 81,415 72,864 154,279 Operating Transfers Out: General Fund (63,000) (63,000) (126,000) — Net Income 18,415 9,864 28,279 Retained Earnings, January 1, 2001 393,210 191,739 584,949 — Retained Earnings, December 31, 2001 $ 411,625 $ 201,603 $ 613,228 -48- - TOWN OF BERTHOUD, COLORADO ENTERPRISE FUNDS Combining Statement of Cash Flows Water Wastewater Year Ended December 31, 2001 Funds Funds Total Cash Flows from Operating Activities: Cash received from customers $ 757,421 $ 737,996 $ 1,495,417 — Cash payments: To suppliers for goods and services (390,563) (283,641) (674,204) To employees for services (137,534) (162,389) (299,923) Net Cash Provided (Used) by Operating Activities 229,324 291,966 521,290 Cash Flows from Noncapital Financing Activities: Operating Transfers Out (63,000) (63,000) (126,000) — Cash Flows from Capital and Related Financing Activities: Acquisition of capital assets (49,823) (794,873) (844,696) — Principal paid on bonds and notes (196,225) (105,000) (301,225) Interest paid on bonds and notes (214,688) (195,415) (410,103) Service tap and dedication fees 280,286 63,710 343,996 — Net Cash Provided (Used) by Capital and Related Financing Activities (180,450) (1,031,578) (1,212,028) Cash Flows from Investing Activities: — Miscellaneous (35,826) (17,480) (53,306) Interest income 92,893 60,308 153,201 — Net Cash Provided (Used) by Investing Activities 57,067 42,828 99,895 Net Increase (Decrease) in Cash 42,941 (759,784) (716,843) — Cash and Cash Equivalents, January 1, 2001 1,678,444 1,461,159 3,139,603 — Cash and Cash Equivalents, December 31, 2001 $ 1,721,385 $ 701,375 $ 2,422,760 Reconciliation of Operating Income to Net Cash Provided by Operating Activities: Operating income (loss) $ (19,377) $ 107,266 $ 87,889 Depreciation 248,701 184,700 433,401 Net Cash Provided by Operating Activities $ 229,324 $ 291,966 $ 521,290 -49- TOWN OF BERTHOUD, COLORADO WATER FUNDS — Combining Balance Sheet (Non-GAAP Budget Basis) Operating Capital December 31, 2001 Fund Fund Total ASSETS Current Assets _ Cash $ 270,540 $ 1,450,845 $ 1,721,385 Accounts receivable 53,992 - 53,992 Total Current Assets 324,532 1,450,845 1,775,377 — Restricted Assets: Loan proceeds short-term investment - 220,181 220,181 Total Restricted Assets - 220,181 220,181 Property, Plant and Equipment: Land - 30,217 30,217 — Utility system - 7,185,404 7,185,404 Equipment - 443,116 443,116 Water rights - 461,914 461,914 — Drainage system - 1,046,772 1,046,772 - 9,167,423 9,167,423 Accumulated depreciation - (2,128,476) (2,128,476) — Total Property, Plant, and Equipment - 7,038,947 7,038,947 Other Assets: — Debt issue costs - 71,560 71,560 Advance to Cemetery Endowment Fund - 40,000 40,000 Total Other Assets - 111,560 111,560 TOTAL ASSETS $ 324,532 $ 8,821,533 $ 9,146,065 Continued on page 51. -50- TOWN OF BERTHOUD, COLORADO WATER FUNDS • Combining Balance Sheet (Non-GAAP Budget Basis) - Continued Operating Capital December 31, 2001 Fund Fund Total J,IARIJ,ITIES Current Liabilities: Accrued interest payable $ 15,683 $ 29,476 $ 45,159 Arbitrage payable - 3,212 3,212 Current portion of long-term liabilities - 205,667 205,667 Total Current Liabilities 15,683 238,355 254,038 Long-Term Liabilities: Bonds and notes payable - 3,800,002 3,800,002 Total Liabilities 15,683 4,038,357 4,054,040 FUND EQUITY Contributed Capital - 4,680,400 4,680,400 Retained Earnings 308,849 102,776 411,625 Total Fund Equity 308,849 4,783,176 5,092,025 TOTAL LIABILITIES $ 324,532 $ 8,821,533 $ 9,146,065 -51- TOWN OF BERTHOUD, COLORADO WATER FUNDS - OPERATING FUND - Schedule of Revenue Compared with Estimate Year Ended December 31, 2001 Actual Budget Variance Operating Revenue: Water service fees $ 753,850 $ 761,900 $ (8,050) Water meters 3,571 10,000 (6,429) — Nonoperating Revenue: Interest 23,987 10,000 13,987 Total Revenue $ 781,408 $ 781,900 $ (492) Schedule of Expenses and Transfers Compared with Budget (Non-GAAP Budget Basis) Year Ended December 31, 2001 Actual Budget Variance Operating Expenses: Salaries and benefits $ 137,534 $ 163,541 $ 26,007 Chemicals 194,598 200,000 5,402 - Supplies 12,814 15,800 2,986 Contractual services 4,416 7,500 3,084 Utilities 40,026 52,000 11,974 — Meters, repairs, and maintenance 53,198 50,500 (2,698) Insurance 27,584 27,000 (584) Miscellaneous 4,195 8,100 3,905 _ Professional fees 38,067 54,500 16,433 Total Operating Expenses 512,432 578,941 66,509 Nonoperating Expenses: — Capital outlay 34,754 210,000 175,246 Debt service 405,958 407,900 1,942 Total Nonoperating Expenses 440,712 617,900 177,188 Operating Transfers Out: General Fund 63,000 63,000 - — Total Operating Transfers Out 63,000 63,000 - Total Expenses and Transfers $ 1,016,144 $ 1,259,841 $243,697 - -52- TOWN OF BERTHOUD, COLORADO WATER FUNDS - CAPITAL FUND Schedule of Revenue Compared with Estimate Year Ended December 31, 2001 Actual Budget Variance Operating Revenue: Tap fees $ 84,000 $ 320,000 $ (236,000) Water dedicaton fees 196,286 149,000 47,286 Nonoperating Revenue: Interest 52,562 80,000 (27,438) Total Revenue $ 332,848 $ 549,000 $ (216,152) Schedule of Expenses Compared with Budget (Non-GAAP Budget Basis) — Year Ended December 31, 2001 Actual Budget Variance Operating Expenses: Water assessments $ 18,165 $ 16,000 (2,165) Nonoperating Expenses: Capital outlay: — Water plant expansion 2,721 - (2,721) Line replacement 48,570 323,333 274,763 Debt service 4,955 114,136 109,181 Total Expenses $ 74,411 $ 453,469 $ 379,058 - -53- TOWN OF BERTHOUD, COLORADO WASTEWATER FUNDS _ Combining Balance Sheet — Operating Capital December 31, 2001 Fund Fund Total ASSETS Current Assets: Cash $ 149,153 $ 274,392 $ 423,545 — Accounts receivable 91,394 - 91,394 Total Current Assets 240,547 274,392 514,939 Property, Plant, and Equipment Land - 56,000 56,000 Buildings and plant - 10,124 10,124 _ Utility system 1,174,513 5,503,168 6,677,681 Equipment - 178,323 178,323 1,174,513 5,747,615 6,922,128 — Accumulated depreciation (599,479) (1,158,783) (1,758,262) Total Property, Plant, and Equipment 575,034 4,588,832 5,163,866 Other Assets: — Assessments receivable 58,249 - 58,249 Restricted bond proceeds cash - 277,830 277,830 Debt issuance costs - 60,385 60,385 — Advance to: Street Improvement Fund - 311,000 311,000 Cemetery Endowment Fund 26,000 - 26,000 — Total Other Assets 84,249 649,215 733,464 TOTAL ASSETS $ 899,830 $ 5,512,439 $6,412,269 - LIABILITIES Current Liabilities: Interest payable $ - $ 29,189 $ 29,189 Arbitrage payable - 13,453 13,453 _ Current portion of long-term liabilities - 105,000 105,000 Total Current Liabilities - 147,642 147,642 Long-Term Liabilities: — Bonds payable - 2,400,000 2,400,000 Total Liabilities - 2,547,642 2,547,642 FUND EQUITY Contributed Capital 642,846 3,020,178 3,663,024 Retained Earnings (Deficit) 256,984 (55,381) 201,603 Total Fund Equity 899,830 2,964,797 3,864,627 TOTAL LIABILITIES AND FUND EQUITY $ 899,830 $ 5,512,439 $6,412,269 - -54- TOWN OF BERTHOUD, COLORADO WASTEWATER FUNDS - OPERATING FUND Schedule of Revenue Compared with Estimate Year Ended December 31, 2001 Actual Budget Variance Operating Revenue: Wastewater service fees $ 737,996 $ 703,407 $ 34,589 Nonoperating Revenue: Interest 8,534 2,500 6,034 Total Revenue $ 746,530 $ 705,907 $ 40,623 Schedule of Expenses and Transfers Compared with Budget (Non-GAAP Budget Basis) Year Ended December 31, 2001 Actual Budget Variance Operating Expenses: Salaries and benefits $ 162,389 $ 150,014 $ (12,375) Supplies 14,480 21,000 6,520 Miscellaneous 3,371 7,000 3,629 Professional services 31,872 76,500 44,628 Utilities 65,413 82,500 17,087 Maintenance and sludge hauling 141,431 108,700 (32,731) Insurance 27,584 27,000 (584) Total Operating Expenses 446,540 472,714 26,174 Nonoperating Expenses: Capital outlay 6,240 80,000 73,760 Debt service 242,166 389,013 146,847 Operating Transfers Out: General Fund 63,000 63,000 - _ Total Nonoperating Expenses and Transfers 311,406 532,013 220,607 Total Expenses and Transfers $ 757,946 $ 1,004,727 $246,781 -55- TOWN OF BERTHOUD, COLORADO WASTEWATER FUNDS - CAPITAL FUND _ Schedule of Revenue Compared with Estimate Year Ended December 31, 2001 Actual Budget Variance Revenue: Wastewater tap fees $ 63,710 $ 199,200 $ (135,490) Interest 51,774 48,000 3,774 — Total Revenue $ 115,484 $ 247,200 $ (131,716) Schedule of Expenses Compared with Budget (Non-GAAP Budget Basis) Year Ended December 31, 2001 Actual Budget Variance Expenses: Capital outlay: Digester, rotor shaft and lift station $ 800,430 $ 750,000 $ (50,430) _ Equipment and other 1,222 287,700 286,478 Total Expenses $ 801,652 $ 1,037,700 $ 236,048 -56- TOWN OF BERTHOUD, COLORADO TRUST AND AGENCY FUND PENSION TRUST FUND Police Pension I This fund accounts for the assets of a previous Pension Plan for"Old Hires"as defined by the State of Colorado. This plan has no participants. -57- TOWN OF BERTHOUD, COLORADO TRUST AND AGENCY FUND _ Balance Sheet Pension Trust Fund — Police December 31, 2001 Pension ASSETS Cash $ 116,393 TOTAL ASSETS $ 116,393 FUND BAT,ANCF Benefits Payable $ 116,393 _ TOTAL FUND BALANCE $ 116,393 -58- TOWN OF BERTHOUD, COLORADO POLICE PENSION FUND Schedule of Revenue, Expenditures, and Change in Fund Balance - _ Budget and Actual Year Ended December 31, 2001 Actual Budget Variance Revenue: Interest income $ 6,915 $ 12,000 $ (5,085) Expenditures - - - Excess of Revenues Over Expenditures 6,915 12,000 (5,085) Other Financing Use: Transfer to General Fund - - - Excess of Revenue Over (Under) Expenditures and Other Uses 6,915 12,000 (5,085) Fund Balance - January 1 109,478 109,478 - Fund Balance - December 31 $ 116,393 $ 121,478 $ (5,085) -59- Form Approved The public report burden tor this information collection is estimated to average 380 hours annually. OMB No.2125-0032 City or County: L Larimer County LOCAL HIGHWAY FINANCE REPORT YEAR ENDING : December 2001 This Information From The Records Of(example-City of_or County of_): Prepared By: Charlene Reed L Town of Berthoud Phone: (970)532-2643 I. DISPOSITION OF HIGHWAY-USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE A. Local B. Local C. Receipts trom D. Receipts from ITEM Motor-Fuel Motor-Vehicle State Highway- Federal Highway Taxes Taxes User Taxes Administration I. Total recei.ts available •-• 2 Minus amount se used for collection ex en s •Jt ..v 3. Min us us amount used for n nhi hw o aYPurposes g ` 4 Minus amount used for mass transit ✓ >. •emain.er use. or ig way purposes •••••••.....•••••••.••••.••••••••••••••••••. ,.. .. •:•X.:::•:4:.::::,".• II. RECEIPTS FOR ROAD AND STREET PURPOSES II. DISBURSEMENTS FOR ROAD AND STREET PURPOSE' ITEM AMOUNT ITEM AMOUNT A. Recei•ts from local sources: ;:A. Local hi hwav disbursements: ;:::y: I. Local highway-user taxes Z •' •:: 4•R� :'::;g1 I. Capital outlay(from page 2) 166 122 a Motor Fuel (from Item I.A.5 ) kititilKSigf..*::::::::::0K7.3 2 Maintenance 23,826 b Motor Vehicle(from Item I .5) - 3 Road and street services: :•••::)::W c. Total (a.+b.) „•,,,,,,,,,,, a. Traffic control operations ��•��•�� 633 2. General fund appropriations ��•142,779 b. Snow and ice removal 4,000 3. Other local imposts(from page 2) 204,324 c. Other 22,005 4. Miscellaneous local receipts(from page 2) 900 d. Total (a through c.) 26,688 5. Transfers from toll facilities 4. General administration &miscellaneous 135,496 6. Proceeds of sale of bonds and notes: 5. Highway law enforcement and safety 136,646 a. Bonds-Original Issues 6. Total (1 through 5) 488,778 b. Bonds- Refunding Issues B. Debt service on local obligations: ,...-44:::1::.:.:;::;:1*:.:::::.: c. Notes I. Bonds: d. Total (a.--b.+c.) 0 a. Interest 7. Total (I through 6) 348,003 b. Redemption B. Private Contributions c. Total(a.+b.) 0 C. Receipts from State government ,,,,,,,,,,,,,,•• •:::::::•::::::::$.44:::•(::::• 2. Notes: (from page 2) 140,785• a. Interest � D. Receipts from Federal Government •••••„••••••••••,••••••. b. Redemption (from page 2) •„•0e c. Total (a.+b.) 0 L. 1 otal receipts(A.7+B+C+D) 488,788 3. fotal (1.c+2.c) 6. C. Payments to State for hi:hways :: D Payments::: v to toll facilities . ........................................... :•}:%•:•:{s� S:::: •:•:%:::'•::'$:},1 •ota •is ursements + 1) :,r i IV. LOCAL HIGHWAY DEBT STATUS (Show all entries at par) I. Opening Debt Amount Issued Redemptions Closing Debt A. Bonds Total) 0 I. Bonds(Refunding Portion) 88s888 B. Notes(Total) Notes and Comments: FORM FHWA-536(Rev.12-96) PREVIOUS EDITIONS OBSOLOETE (Next Page) 1 — -60- STATE: Colorado LOCAL HIGHWAY FINANCE REPORT YEAR ENDING(mm/yy)— December 2001 II. RECEIPTS FOR ROAD AND STREET PURPOSES-DETAIL - ITEM AMOUNT ITEM AMOUNT A.3. Other local im•osts: :4:..•..•••.: ::e: 4:c.•;•.•.A.4. Miscellaneous local recei•ts: ••.....•..•.•.•.•. a. Property Taxes and Assesmentslitiga , n Investments :.:iJ:{J.�:{�:{{J.�}S b Other local imposts _ b Other1. Sales Taxes 138,960 c Transfers 2. Traffic Fines d Ca,ital Credits 3. Specific Ownership Tax e Sale of — 4. Motor Vehicle Registration 18,990 ermits 900 5. From Cities/Counties 42,550 Service Performed 6. Total(1. through 5.) 200,500Refunds of Ex•. , itures c. Total a. +bJ 204,324Total , ugh h 900 — iSigi:MiSitnialtiti*Iiiii:MiSiSISieiel(Cary forward to 'ale 1) :iti:;,:i8KSKOISitSig:ItS:SSISI::::8ititit!(Can-) tomard to page I) — ITEM AMOUNT ITEM ANIOUNT s..:.:. : =ti :: 1. Highway-user taxes � 1•FHWA(from Item I.D.5.) :•:�:•:•:•'• 2. State general funds 2. Other Federal agencies: •':?fi.^•.q>•'^ 3 Other State funds a Forest Service a. State bond proceeds b. FEMA b Project Match }::i:: t c. HUD — c. (Specify) d. Mineral Leasing d. (Specify) 'ft::::::44.'"'"''' :'+'' ' e. Pay Lieu of Tax e. (Specify) 14.4:4K4)444:;444;1IIf Other Federal f Total(a.through e:) :$::: e.f.f.: :.S.. • t•::: t: :ifr:•: 3; :::'v°:•'r:•:•: t: Q. Total(a through f.) MI 4. Total 1. +2, +3. •• 3. Total I. + ........ •.FI:t1:to:l:I:::;I;N;.:Fi:FI;:at: 2.Q — III. DISBURSEMENTS FOR ROAD AND STREET PURPOSES-DETAIL ON NATIONAL OFF NATIONAL HIGHWAY HIGHWAY TOTAL SYSTEM SYSTEM a b) (c) A.I. Ca•ital outlay: i.•.•.:•.•.�.•::v.:r.•d..•r.•.v..v.•s•}.•.•.....•....r ,:1 — a. Right-Of-Way Costs b. Engineering CostsIIIIIIIIIIIIMIll i c. Construction: (1). Capacity Improvements •••• ••••••••�0 — (2). System Preservation (3). Safety And Other 122 166,120 0 0 (4). Total Construction(1)+(2)+(3) i 166,122 166.122 — d. Total Capital Outlay(Lines l.a. + 1. + 1.c.4) i 166,122 166,122 •• ...•.•...........•...•. :::(Carry forward to page 11 Notes and Comments: FORM FHWA-536(Rev.12-96) PREVIOUS EDITIONS OBSOLOETE -61- Hello