HomeMy WebLinkAbout20050789.tiff DEBT CAPACITY ANALYSIS
Town of Mead, CO
Prepared by
_ Kirkpatrick Pettis, Financial Advisors
and Investment Bankers
December 8, 2004
EXHIBIT
2005-0789
The "Debt Capacity Analysis" presented here as prepared by Kirkpatrick
Pettis, Financial Advisors and Investment Bankers, represents the view
— of Kirkpatrick Pettis and is intended for the sole purpose of public policy
discussions in the submittal of a Service Plan for the East I-25 Sanitation
District. The sources of information used in the analysis are from public
sources and readily available private market sources.
The methodology applied was to identify customary types of municipal
borrowings available to the Town of Mead, establish statutory
borrowing criteria or limitations, and market borrowing limitations to
ascertain current capacities of the Town to support growth and
development projects through the bond market. The opinions expressed
here are those of Kirkpatrick Pettis, a national based investment banking
firm headquartered in Denver, Colorado.
Kirkpatrick Pettis
— ^ Denver, Colorado
December 8, 2004
- 1 -
Town of Mead, CO
Table of Contents
Introduction
Debt Capacity Analysis for the Town of Mead
Supporting Documents II
(A) Interest Rate Trends for Municipal Bonds
(B) Growth in Taxable Retail Sales and Department of
— Revenue Sales Tax Rates
(C) Town of Mead Adopted 2004 Budget
(D) Audited Financial Statements — December 31, 2003 and
2002
-
-
ii -
Background
Colorado's small towns and cities face challenges in supporting new growth and
development from several fronts. These challenges include:
(1) these entities are normally less than investment grade in credit quality,
resulting in high interest rate borrowings
(2) borrowings relying on assessed value increases from residential
growth suffer from tax base lag and add marginal bonding capacity
(3) existing populations tend to disfavor taxing themselves to support
uncertain residential or commercial growth, and
(4) barriers to annexation or artificial growth limits imposed by municipal
regulation can seriously thwart access to capital markets
Some of these issues can be mitigated by State and federal grants to reduce
borrowing or avoid the debt markets altogether. Other assistance, in the form of
credit enhancements, such as those provided by the Water Resources and Power
Development Authority, can overcome credit barriers, if the municipality can meet
their credit standards to obtain enhancements.
Forms of Municipal Borrowing Available to Mead
The major forms of borrowing available to Mead are:
(1) General Obligation Bonds
(2) General Fund Revenue Bonds
(3) Sales and Use Tax Revenue Bonds
(4) Municipal Leases/COPs
(5) Water and Sewer Revenue Bonds
(6) General Improvement Bonds, and
(7) Special Assessment Bonds
Items #6 and #7 are not City wide instruments in their usual applications. In
addition to these forms of direct borrowing by the Town, the Town can create
subordinate entities to finance market driven special projects. The most common
examples would be a Housing Authority to finance low and moderate income
- 1 -
housing and an Urban Renewal or Downtown Development Authority to assist
revitalization in the existing downtown area.
General Obligation Bonds — GO Bonds
Towns can issue unlimited tax General Obligation Bonds for any municipal
purpose. Under current statutes, the amount of"GO" debt is limited to 3% of
statutory actual value, which generally equates to 10% of assessed value. The
chart below shows the Town's most recent statistics on assessed value and the
corresponding debt financing capacity.
Collection Year Assessed Value Maximum G.O. Debt
2005 $34,335,020 $3,433,502
2004 31,034,355 3,103,435
2003 28,989,930 2,898,993
2002 28,127,120 2,812,712
2001 22,377,570 2,237,757
_ According to the 2003 fiscal year audit, the Town has not used its General
Obligation capacity. A Town-wide election is necessary to authorize an Unlimited
Tax G.O. Bond on all residential and commercial property.
An unlimited General Obligation bond at the maximum available amount of
$3,433,502 at 6% interest or 20 years would have an annual repayment of
.. $296,000. Unless this money was spent on a firm development proposal, the
Town's existing tax base could repay the debt. Those tax impacts would be
estimated as follows:
(1) Calculations on a $3,433,502 G.O. Bond
Annual Payment $296,000
% Assessed Value of $34,335,020
Additional Mills Needed 8.6 mills
- 2 -
(2) Cost to a Homeowner (2A) Cost to a Homeowner
$150,000 Home (market value) $250,000 Home (market value)
x .0796 Assessment Rate x .0796 Assessment Rate
$11,940 Assessed Value $19,900 Assessed Value
—
x 8.6 mills (or .0086) x 8.6 mills (or .0086)
$102.68 New Annual Tax $171.14 New Annual Tax
(3) Cost to a Commercial Property (3A) Cost to a Commercial Property
$150,000 Business (market value) $300,000 Business (market value)
x .29 Assessment Rate x .29 Assessment Rate
$43,500 Assessed Value $87,000 Assessed Value
x 8.6 mills (or .0086) x 8.6 mills (or .0086)
$374.10 New Annual Tax $748.20 New Annual Tax
Obviously, the models above are examples. In the past two years, the Town has
grown in assessed value. Growth in existing values will lower the projected tax
rates for G.O. Bonds, as would new growth from annexations when those
properties are added to the tax rolls.
General Fund Revenue Bonds
One of the newest funding techniques in Colorado is the "General Fund Revenue
_ Bond." This structure has been used by some smaller and medium-sized
municipalities such as Glendale, Montrose and Edgewater. The debt pledge for
this type bond is a multi-fiscal year obligation to make the required bond payments
from the General Fund. So, capacity to issue bonds is a fairly simple calculation of
revenues minus expenses in the General Fund, net of transfers in and out.
In the last two audit years, Mead's numbers are as follows:
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GENERAL FUND
12-31-03 12-31-02
Revenues $1,111,537 $845,370
Expenses - 927,174 805,309
Net Revenue $184,363 40,061
Transfers In 20,899 0
Transfers Out (217,140) 350,004
Excess Revenue $ (11,878) $(309,943)
Based on these historical numbers, the Town of Mead has no General Fund
Revenue Bonding capacity. General Fund Revenue Bonds are authorized by a
Town-wide vote.
Sales and Use Tax Revenue Bonds
Since TABOR passed in 1992, these bonds require voter approval. Capacity to
issue these bonds is generated from excess sales and use tax or an increase in the
Sales and Use Tax rate above the current rate.
Mead's current sales and use tax rate is 2%. Sales tax and use tax currently
support the Town's General Fund and the Road and Bridge Fund.
In the adopted 2004 Budget (Page 1 of the Budget) the Town budgeted $155,800 in
Sales Tax and $52,000 in Use Tax for the General Fund. The same amount was
budgeted from the Road and Bridge Fund, so total 2004 collections are estimated
to be $415,600 at the 2% rate, or $207,800 per 1% of collection. In the 2004
budget, no increase was forecasted in sales tax revenue and a small increase in use
tax was estimated to occur.
Raising the sales and use tax by 1% creates new revenue of$207,800 to support a
Sales and Use Tax Revenue bond. This is sufficient to provide about $1,600,000
in bonding capacity. These bonds would require a vote. Raising taxes to 2%
doubles this capacity.
For each dollar of sales and use tax debt, the Town, due to its small sales tax base,
would need to demonstrate "revenue coverage" in the 1.3 to 1.5 times range.
Therefore, to support a $150,000 repayment would necessitate $195,000 to
$225,000 in annual revenue (see following table):
- 4 -
Coverage Calculations •
Bond Amount $1,600,000
Bond Payment $150,000
Coverage at 1.3 times $195,000
Coverage at 1.4 times $210,000
Coverage at 1.5 times $225,000
Leases or COPs
This is a non-voted debt type instrument backed by a pledge of assets and a year-
to-year obligation to make/appropriate a lease payment. As the bond purchasers or
investor requires a mortgage or financed property, this techniques' usefulness is
limited to municipal buildings such as a Town Hall, Police Building, or Recreation
Center. As such it is not a technique to support water, sewer, drainage, or roads
projects that are related to new developments.
Water and Sewer Revenue Bonds
Both water and sewer revenue bonds can be issued by the Town without an
election if the Town's water and sewer funds are legally enterprises under
TABOR. Monthly water and sewer charges, tap fees, and standby fees are the
revenue sources backing the repayment of these revenue obligations, along with a
pledge to raise rates on all customers sufficient to pay the bonds.
The Town's Sewer Fund is an active fund and below, the 2002 and 2003 financial
performance is displaced in summary for this Fund.
Sewer Fund — Audits
2003 2002
Operating Income $ 95,276 $ 85,263
Operating Expense 132,232 83,564
Income (Loss) 36,956 1,699
Non-Operating Revenue (Expenses) (9,376) 2,350
Tap Fees 430,000 6,000
Extraordinary Items 383,665 0
Prior Year Adjustment 180,208 0
Retained Earnings End of Year $964,615 $400,242
5 -
.� According to the Town's audit, income to the Water Fund is transferred to the
Little Thompson Water District, an area service provider.
The financial characteristics of the Sewer System do not demonstrate additional
financing capacity at this time. The 2004 budget has a planned reduction in tap
fees from the 2003 level.
General Improvement Districts (GIDs)
A General Improvement District is a separately created entity to issue tax backed
or revenue backed bonds to finance public improvement in a geographically
defined area smaller than the Town as a whole. Formation of a GID is dependent
on a petition signed by taxable properties or electors within the proposed
boundaries. Bond capacity cannot be ascertained without distinguishing
characteristics of the District being known such as the size and diversity of the tax
base. A GID is not commonly used for development projects although growing
use of GIDs are being seen for commercial projects. The Sewer Fund is a marginal
financial entity of low credit quality. GID bonds must be voter authorized by
taxpaying electors.
Special Assessment Districts (SIDs)
Special Assessment Bonds are obligations payable from assessments on benefited
property. Formed through a petition process by potentially benefited property
owners, these bonds commonly are used for street paving, water, and sewer. Debt
capacity is related to the value of properties within the SID boundaries and
generally is no more than 50% of the actual value of the property. A special
assessment district can include property both within the City and the County with
consent from the County. These bonds are rarely used for large-scale
infrastructure projects.
Observations and Conclusions
•
The Town of Mead can generally achieve 6% to 7%, 20-year financing terms on
most of its bond obligations. Current interest rates for ratable credits are in the 5%
range. (See Interest Rate Charts). Mead is not ratable. True current debt capacity
is isolated to the Town's unused general obligation capacity and Sales Tax Bonds
from the present base. The Sewer Fund's ability to bond finance anything will be
dependent on substantial tap fee commitments or "developer agreements."
The Town's current growth restriction manifested in a Town-wide election
required to annex new property is a formidable obstacle to creating financing
6 -
capacity. It is unlikely but not impossible that the Town's existing residents and
businesses would vote to impose unlimited property tax pledges to support
infrastructure for new development. The vast majority of Colorado towns
jealously guard G.O. capacity for emergencies or for projects bestowing
widespread benefits to all sections of the community. Alternatively, the Town can
submit to voters a 1% or 2% increase in the sales and use tax for bonding to
support growth related projects.
Development forces working in the private market create opportunity for new
housing, commercial, and industrial land uses near Mead. Short of removal of
annexation restrictions, the development community is unlikely to participate with
Mead on the basis of"election risk." This environment will restrict Mead's
bonding capacity. Similarly, qualifying for substantial support for low interest
loans or bonds from Rural Development or State agencies will be hampered by
lack of ability to make orderly annexations (as with most towns) through petitions
and development agreement.
Limitations
This report is limited in scope and does not purport to know the magnitude of
— -- sewer treatment facilities contemplated by the Town or other growth related
infrastructure that would be needed in new developments. This report has not
sought nor benefited from engineering or feasibility studies that may have been
undertaken by the Town. And, the report has not analyzed the sales tax base nor
sought to forecast the incidence of the sales and use tax on various type business or
residential developments.
Kirkpatrick Pettis
Denver, Colorado
—
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DRP 1002(07/26/04)
r... COLORADO DEPARTMENT OF REVENUE
TAXPAYER SERVICE DIVISION
1375 CO 80261 STREET
Colorado Sales/Use Tax Rates
�. DENVER DENVE R N
This publication,which is updated on January 1 and July 1 each year,lists timely filed returns.Tax is remitted onForm DR 0100 in the County column
Colorado Sales/Use Tax rates throughout the state.The total tax rate for any combined with the county tax.Exemptions are the same as the county tax.
jurisdiction must be computed by adding all taxes applicable tothatjurisdic- Rural Trans ortationAuthori lion.To order copies of this publication call(303)238-SERV(7378).It is also p ty(RTA)
available on the Web at www.faxmlorado.mm A sales/use tax of 0.2%in Basalt,0.5%in Carbondale and 0.4%in
Glenwood Springs.The sales tax is remitted on form DR 0100 in the
State Sales Tax Special District column.Exemptions include A-B-C-D-E-F-G-H.A
The state sales/use tax rate is 2.9%with exemptions A-BC-D-E-FAH.A sales tax of.6%in Gunnison County with the exception of the cities
service fee is a deduction of 21/3%for timely filed returns.Tax is remitted on of Marble,Ohio,Pitkin and Somerset.A rate of.35%within the city
Form DR 0100,"Retail Sales Tax Return" limits of Gunnison.The tax is remitted on form DRO100 in the Special
RTD/CD/FD Tax District column.Exemptions A.
The Regional Transportation District(RID)levies a sales/use tax of 0.6%. Short-term Rental Tax
•- The RID boundaries include the counties of Denver,Boulder,Broomfield Douglas County has a tax of 1%on rented for thirty days
(except certain areas immediately adjacent to 1-25 and Highway 7 inter-
change) property . y
and
Ara in northeast Broomfield,Jefferson,Adams(west of or less(exduding motor vehicle).Tax is remitted on Form DR 1480.
Arapahoe(south of 1-70 west of Picadilly RD.to Jewell, County Lodging Tax
then west of Gun Club RD.to Quincy,theng eraily west of Monagh.an PD. The following counties have a tax on lodging services including hotels,
indud1pg Arapahoe Park and Aurora Reservior),and Douglas(northeast motels,condominiums,and camping spaces:
portion plus Highlands Ranch). Tax is remitted quarterly on Form DR 1485,"County Lodging Tax
Effechvelanuary1,2004 RTD'sboundarieswillindudethecityofLoneTree. Return".
As of April 1,204,RTD's boundaries will indude the Acres Green area The
RTD sales and use tax rate is 0.6 per ent
Effective January 1,2004 the Scientific and Cultural Facilities District and 2.0% Clear Creek,Fremont,San Juan and San Miguel
Football District which each have a 0.1 percent sales and use tax,are also (Mountain Village Omitted)
induded in Lone Tree,but only in thcse areas annexed by Lone Tree after 1.9% Alamosa,Archuleta,Chaffee,Conejos, Costilla,
May 25,1994.These annexed areas indude Delta,Hinsdale,Lake,La Plata(Durango omitted),
• Estates annexation • Rampart Range annexation Logan,Mineral,Moffat,Montezuma(Cortez
_ • WestbrookDevelopmentannexation • Heritage Hills annexation
• Mimi's Cage annexation • Centennial Ridge annexation omitted),Morgan,Rio Blanco,Rio Grande
• Applebee's annexation • Carriage Club annexation and Saguache.
• C-470 Joint Venture annexation 1.8% Grand(Winter Park omitted)
The Parkmeadows Mail area whidsis in unincorporated Dougais County and 0.9%Bent
notin the city of Lone Tree is in the Football District and has a 0.1 percent sales 4% Gunnison
and use tax(until April 1,2004,then it will have RTD&FD,at 0.7 percent sales
and
use tax)
Colorado Counties
A sales/use tax of 0.1%for the Scientific and Cultural facilities District(CD)
applies to all sales that are also sub*ectto the RlD tax Except that the CDdoes NO. NAME NO. NAME NO. NAME
not apply to portions of the Lone Tree and the Park meadows Mall area as 1 Denver 23 Rio Grande 45 Kiowa
described above 2 Pueblo 24 Garfield
Exemptions indude A-C-D-E.F,A service fee of31/3%is allowed for time46 Cheyenne
ouglas
filed returns.Tax is remitted on Form DR0100in the SpecialDistrictcolumn 3 Weld 25 Conejos itCarson47 Douglas
Or if you have more than one location,the tax is remitted on Form DR0203. 4 E1 Paso 26 Kit 48 Archuleta
5 Las Animas 27 Washington 49 Rio Blanco
Local Improvement District Tax(LID) 6 Larimer 28 Routt 50 San Miguel
... Asales tax of05%sales tax within designated areas of southeast Jefferson 7 Boulder 29 Bent 51 Clear Creek
and Boulder(Old TownNiwot and Cottonwood Square)counties.Exemp- 8 Mesa 30 Alamosa
tionsincludeutilitiesardtelephoneandtelegraphservices.Servicefeeisa 52 Custer
_ deductionof31/3%fortimelyfiledretums.BonlderCountydosnotallow 9 Otero 31 Chaffee 53 Grand
a service fee.Taxis remitted on fcmn DR 0100 in the city/LID column 10 Arapahoe 32 Montezuma 54 Park
11 Jefferson 33 Lincoln 55 San Juan
AsBes tax of
0.of0.2%appliesintheFlatironsCrvssingMallareaandismlleded 12 Adams 34 Elbert 56 Oufay
by Local Marketing District Tax 13 Logan 35 Saguache 57 Pitkin
14 Fremont 36 Crowley 58 Dolores
IheLocalMancetingDistrictleviesataxofl.4%onlugingsevicesincuding 15 Morgan 37 Phillips 59 Jackson
hotels,motels,omdomithunys and camping spaces inside the town of Vail 16 Huerfano 38 Costilla 60 Gilpin
Alamosa County levies a4%Local Marketing Tax on hotel and motel rooms. 17 Prowers 39 Sedgwick p Tax is remitted quarterly to the Department of Revenue on Form DR 1490 gw' 61 Summit
"Tonal Marketing District Tax Return". 18 Delta 40 Gunnison 62 Mineral
Mass Transit District Tax 19 Yuma 41 Lake 63 Hinsdale
._ A sales tax of0.5%in Eagle County and.75%inSummit County.Asales/ 20 La Plata 42 Moffat 64 Broomfield
use tax of05%inPitldn County.A service fee isa deduction of31/3%for 21 Montrose 43 Teller
22 Baca 44 Eagle
Page 2
State Collected City and County Sales Taxes
CITIES
CITY %TAX USE SERVICE CITY %TAX USE SERVICE
RATE EXEMPT' TAX' FEE% RATE EXEMPT' TAX' FEE%
`Aguilar(05) 3 Y-Z 3% 1 1/2% Granby(53) 4 Y-Z 4% 31/3
.. Akron(27) 2 B-C Y-Z 2% 31/3% Grand Lake(53) 4 Y-Z4% 31/3
Alma(54) 3 None 31/3 *Green Mtn Falls(04,43) 3 Y-Z 3% 2
Antonito(25) 4 None 31/3 Gypsum(44) 3 C Z3% 31/3
•Ault(03) 3 Y-Z 3% 0 Haxtun(37) 1.5 Y-Z 1.5% 31/3
Basalt(44,57) 2 None 31/3 Hayden(28) 4 Y 2% 31/3
Bayfield(20) 2 None 31/3 Holly(17) 1 None 31/3
Bennett(10,12) 2 2 2% 31/3 Holyoke(37) 1.5 Y-Z 1.5% 3 1/3
Berthoud(03,06) 3 Y-Z 3% 31/3 Hooper(30) 2 C None 0
we. Black Hawk(60) 4 Z 4% 31/3 Hot Sulphur Spgs(53) 4 A-B-C None 31/3
Blanca(38) 2 B-C None 31/3 Hotchkiss(18) 2 None 31/3
Brush(15) 3 Y-Z 3% 31/3 Hudson(03) 4 A Z-4% 31/3
Buena Vista(31) 2 None 31/3 Hugo(33) 2 B Y-2 2% 31/3
-- Burlington(26) 2 A-B-C Y-Z 2% 31/3 Idaho Springs(51) 3 Y-Z 3% 0
Calhan(04) 2 A-B-C Y-Z 2% 31/3 Ignacio(20) 2 None 31/3
Carbondale(24) 3.5 Y-Z3.5% 31/3 Johnstown(03,06) 3 Y-Z 3% 31/3
Cedaredge(18) 1.5 C Y-Z 1.5% 31/3 Julesburg(39) 1 Y-Z 1% 31/3
-- Centennial(10) 2.5 A-B-C-DIG-H Y-Z 2.5% 3 Keenesburg(03) 2 A Z 2% 31/3
Center(23,35) 2 None 31/3 Kersey(03) 3 Z3% 31/3
Cheyenne Wells(46) 2 A-B-C-D Y-Z 2% 31/3 Kiowa(34) 1.5 Z 1.5% 31/3
Collbran(08) 2 A-B-C None 31/3 Kit Carson(46) 2 Y-Z 2% 31/3
Columbine Valley(10) 3 A-B-C Y-Z3% 31/3 Kremmling(53) 4 None 31/3
Craig(42) 2.25 None 31/3 Lakeside(11) 1.6 None 0
Crawford(18) 2 None 31/3 La Jara(25) 3 Y-Z 3% 31/3
Creede(62) 2 None 31/3 La Salle(03) 3.5 Y-Z2% 31/3
-- Crestone(35) 3 None 0 La Veta(16) 3� '� None 31/3
Cripple Creek(43) 2.3 None 0 Las Animas(29) 3 Y-Z 3% 31/3
Dacono(03) 3 Y-Z 3% 31/3 Limon(33) 2 Y-Z 2% 31/3
De Beque(08) 2 A-B-C None 31/3 Lochbuie(03) 4 Y-Z 2% 0
si Del Norte(23) 2 None 31/3 Log Lane Village(15) 3 Y-Z 3% 0
Dillon(61) 2 None 0 Lyons(07) 3 Y-Z 3% 31/3
Dinosaur(42) 2.1 C-D None 31/3 Manassa(25) 1 None 31/3
Dolores(32) 3.5 None 31/3 Mancos(32) 4 None 0
-- Dove Creek(58) 2 C Y 1% 31/3 Manitou Spgs(04)' 3.9 Y-Z 3.8% 0
Eads(45) 2 Y-Z2% 31/3 Manzanola(09) 2 A-B-C Y2% 31/3
Eagle(44) 4 Z 4% 31/3 Marble(40) 2 None 3 1/3
Eaton(03) 3 Z 3% 31/3 Mead(03) 2 A-B-C Y-Z 2% 0
r- Elizabeth(34) 2.5 Y-Z 1.5% 3 1/3 Milliken(03) 25 Y-22.5% 31/3
Empire(51) 3 Y-Z 3% 0 Minturn(44) 4 None 0
Erie(07,03) 3.5 B-C-13 Y-Z 3.5% 31/3 Moffat(35) 2 C-D-E-F-G-H None 31/3
Estes Park(06) 4 Y2% 31/3 Monte Vista(23) 2 None 31/3
Evans(03) 3 Y-Z 3% 31/3 Montezuma(61) 2 None 3
Fairplay(54) 4 A None 31/3 Monument(04) 3 A-B-C Y-Z 2% 31/3
Firestone(03) 2 A-B Y-Z2% 0 Morrison(11) 3 Y-Z3% 31/3
Flagler(26) 2 B-C None 31/3 Mountain View(11) 4 Y3% 31/3
Florence(14) 2 Y-Z 2% 31/3 Mountain Village(50) 4.5 A-C-D None 31/3
Fort Lupton(03) 4 Y-Z4% 31/3 Naturita(21) 3 Y-Z3% 31/3
Fort Morgan(15) 3 Y-Z 3% 31/3 Nederland(07) 3.75 Y-Z 3% 31/3
Fountain(04) 3 A-B-C Y-Z 2% 0 New Castle(24) 3.5 Z 2% 31/3
Fowler(09) 2 B-C None 31/3 'Norwood(50) 3 C None 31/3
Foxfield(10) 3.75 A-B-C Z 3% 0 Nucla(21) 3 Y 2% 31/3
Fraser(53) 4 Y-Z 4% 0 Nunn(03) 2 Y-Z 2% 0
Frederick(03) 2.5 A-B-C Y-Z2.5% 31/3 Oak Creek(28) 3 None 31/3
-- Frisco(61) 2 None 31/3 Olathe(21) 3 Y-Z 1% 31/3
Fruita(08) 2 A-E-F Y-Z2% 31/3 Ordway(36) 2 Y-Z2% 31/3
,i—. Garden City(03) 2 None 31/3 Otis(27) 2 Y-Z 2% 31/3
Georgetown(51) 3 Y 3% 0 Ouray(56) 3 None 31/3
Gilcrest(03) 3 Y-Z 3% 3 Ovid(39) 1 Y-Z 1% 31/3
Granada(17) 2 Y-Z 2% 31/3 •Palisade(08) 2 A-B-C None 31/3
Page 3
... CITY %TAX USE SERVICE CITY %TAX USE SERVICE
RATE EXEMPT' TAX2 FEE% RATE EXEMPT' TAX' FEE%
Palmer Lake(04) 2 A Y-Z 2% 31/3 South Fork(23) 2 C None 31/3
Paonia(18) 2 None 31/3 Springfield(22) 2 None 31/3
Parachute(24) 3.75 Z 3.75% 0 Stratton(26) 2 A-B-C-D None 31/3
Pierce(03) 2 B Y-Z 2% 31/3 Superior(07,11) 3.46 Y-Z 3.3% 31/3
Pitkin(40) 3 None 0 Telluride(50) 4.5 Y-Z 4.5% 3 1/3
Platteville(03) 2 Z 2% 31/3 Timnath(06) 3 A-C Y-Z 3% 31/3
Poncha Springs(31) 2 None 31/3 Trinidad(05) 4 Y-Z 4% 3 1/3
Red Cliff(44) 3 None 31/3 Victor(43) 3 A-B-C None 0
Rico(58) 5 None 0 Walsenburg(16) 3 Y-Z 3% 31/3
to
Rocky Ford(09) 3 Y-Z 3% 3 Ward(07) 2 None 3 1/3
Romeo(25) 1 None 31/3 Wellington(06) 3 C Y-Z 3% 31/3
Saguache(35) 3 None 31/3 Westcliffe(52). 2 None 31/3
Salida(31) 2 None 31/3 Wiggins(15) 2 None 31/3
to
San Luis(38) 3 A-Z None 31/3 Windsor(03,06) 3.2 Z 3.2% 31/3
Sawpit(50) 3 Z 3% 0 Wray(19) 2.5 Y-Z 2.5% 31/3
Sedgwick(39) 1 B-C None 0 Yampa(28) 2 A-D-E-F Y-Z 2% 31/3
Severance(03) 3 C Z 3% 31/3 Yuma(19) 3 Y-Z 3% 31/3
.. Sheridan(10) 3.5 A Y-Z 3.5% 0
Silt(24) 3 Y-Z3% 31/3
Silver Cliff(52) 2 Y-Z 2% 31/3
Silver Plume(51) 3 None 31/3
... Simla(34) 4 A-B-C None 31/3
COUNTIES
COUNTY %TAX USE SERVICE COUNTY %TAX USE SERVICE
... RATE FYFMPT' TAX' FEE% RATE EXEMPT' TAX2 FEE%
Adams(12) .7 A-B-C-D-E-F-C-H None 0 Larimer(06) .8 A-B-C-D-E-F-C-HY-Z.8% 31/3
Alamosa(30) 2 None 31/3 Las Animas(05) 1 Y-Z 1% 31/3
• Arapahoe(10) .25 A-B-C-D WF-C-H Y-Z.25% .5 Lincoln(33) 2 Y-Z 2% 31/3
^ Archuleta(48) 4 None 31/3 Logan(13) I E Y-Z 1% 0
Bent(29) 1 Y-Z 1% 0 Mesa(08) 2 A-B-C Y-Z 2% 31/3
Boulder(07) .55 A-B-C Y-Z.55% 0 5 Mineral(62) 2.6 None 31/3
Chaffee(31) 2 None 3 Moffat(42) 2 None 31/3
ito
Clear Creek(51) 1 None 0 Montezuma(32) .45 A-B-C-D-E-F Y.45% 31/3
Costilla(38) 1 None 0 Montrose(21) 1 A-B-C Y-Z 1% 31/3
Crowley(36) 2 Y-Z2% - 31/3 ' Otero(09) 1 A-B-C-E-F Y-Z1% 31/3
Custer(52) 2 A-B-C Y-Z2% 31/3 Ouray(56) 1 None 31/3
• Delta(18) 2 E-F None 31/3 Park(54) 1 A-B-C-D None 31/3
'° Douglas(47) 1 A-C Y-Z 1% 21/3 Phillips(37) 1 E Y-Z 1% 31/3
' Eagle(44) 15 A-B-C None 31/3 ' Pitkin(57) 3.5 Y-Z.5% 31/3
El Paso(04) 1 A-B-C Y-Z 1% 21/3 (in Basalt) 2.5 Y-Z.5%
Fremont(14) 1.5 A-B-C-D-E-FGH Y-Z 1.5% 31/3 Prowers(17) 1 Y-Z 1% 31/3
to Garfield(24) 1 A-B-C None 31/3 Pueblo(02) 1 A-B-C Y 1% 31/3
Grand(53) 1 None 31/3 Rio Blanco(49) 3.6 C Y-Z 3.6% 31/3
Gunnison(40) 1 None 31/3 5 Rio Grande(23) 2.6 None 31/3
Hinsdale(63) 5 Y-Z 4% 31/3 Routh County(28) 1 A-B-C Y-Z 1% 31/3
'o Huerfano(16) 1 None 31/3 San Juan(55) 4 None 31/3
Jackson(59) 3 None 31/3 San Miguel(50) 1 A-B-C Z 1% 3
Jefferson(11) .5 None 31/3 Sedgwick(39) 2 Y-Z 2% 31/3
Lake(41) 4 None 31/3 4 Summit(61). 2.75 None 31/3
La Plata(20) 2 None 31/3 Teller(43) 1 A-B-C Y 1% 31/3
' Sales Tax Exempt:
A-Food for home consumption;B-Machinery and machine tools(as defined on form DR 1191);C-Gas,electricity,etc.,for residential use;
D-Occasional sales by charitable organizations;E-Farm equipment;F-Pesticides;G-Food sold through vending machines;
— H-Low-emitting vehicles
' Use Tax(paid to city and or county)covers: Y-Motor vehicles;Z-Building materials
' Contract city: For information regarding exemptions and use tax,contact the city directly.
' Rate includes 0.5%Mass Transit(MTS)Tax in Eagle and Pitkin Counties and.75%in Summit County
go
' Rate includes 0.6%Health District tax.
' Cap of$200 per month on service fee.
' Corrections or changes since July 1,2003.(All state collected cities/counties sales taxes or rate changes may become effective only on January
... l or July l.)
() County in which the city is located(see chart).
Pm
Page 4 Home Rule Cities For Which The State Does Not Collect Local Sales Tax
.... Current SeMce Hr. Current Service Lic. Current Service Lic.City % Fee% Fees City % Fee% Fees City % Fee% Fees
Alamosa(30) 2 2' 15.00 (720)865-7018 (303)708-1818
"'� P.O.Box 419 Durango(20) 2.5 3'A 2.50 Longmont(07) 2.95 3° 151K)
425 Fourth Street 949 2nd Avenue 3501Cimbark Street
in
Alamosa CO 81101 Durango CO 81301 Longmont CO 80501
(719)589-2593 (970)385-2811 (303)651-8672
° Arvada(11,12) 3.21 3e 0 Edgewater(11) 3.5 2 15.00 a Louisville(07) 3.375 3% 25.00
8101 Ralston Road 2401 Sheridan Blvd. 749 Main
Arvada CO 80002 Edgewater CO 80110 Louisville CO 80026
(720)898-7100 (303)238-7803
••' "Aspen(57) 2.2 3.3 W Englewood (10) Loveland
(06)064
130 S.Galena 8 3.5 .5 25.00 3 g'�ss 0
1000 wood CO Pkwy Lo eE.l3rd Street
Aspen CO 81611 Englewood 762-2422 (970)
80260 (90)92-CO 80537
(970)920.5029 (303)762-2422 (970)%2-2696
' Aurora(10,12,47) 3.75 .5 W Federal Heights(12) 4.0 0 15.00 ' Montrose(21) 3.5 11A 35,00
15151 E.Alameda Pkwy 2380 W.90th Ave P.O.Box 790
5th Floor Federal Heights CO 80260 Montrose CO 81402
Aurora CO 80012 (303)428-3526
. 240-1400
s
(303) (44)739-7778 Fort Collins(06) 3 3' 0 P. Crested Butte(40) 4.5 3 ids 0
Avon(44) 4 0 0 P.O.Box 580 2.25' P.O.Drawer D
P.O.Box 975 Fort Collins CO 80522 Mt.Crested Butte CO 81225
'.) Avon CO 81620 (970)221-6780
(970)349-6632(970) er(07 950Glendale 3.75 0 W 11701 om u(1nity 4 1 5.00
' P.O. (07) .5 0 25.00 Glendale e BirchCOtmt Community 332 Dr 354
B.ul Box CO 3.56' (303) CO 80246 Northglenn 6 80233
Boulder O 80306 759-1513(303) (303)451-8326
(303)441-3050 Glenwood Springs(24) 3.45 2 12.50 ° Parker(47) 3 3 i
Breckenridge(61) 2.5 0 W �s 10.00
P.O.Box 168 Glenwood prin 20120 E.Main St.
Breckenridge CO 80424 Springs CO 81601 Parker CO 80138-7334
53-2751 (970)384-6410 (303)805-3228
(970)4Golden(11) 3 0 20.00 Pueblo(02) 3.5 0 50.00
r .
Brighton(12,03) 3.75 3 t/r 25.00 911 101h Street P.0.Box 1427
22 South 4th Ave. Golden CO 80401 Pueblo CO 81002
Brighton CO 80601 (303)384-8023 (719)584-0860
(303)655-2041 Grand Junction(08) 2.75 3'/s 10.00 Ridgway(56) 3 3'A 25.00
' Broomfield(64) 4.15 3 0 250 No.5th Street P.O.Box 10
Flatiron lmprov.Dist. 0.2 Grand Junction CO 81501 Ridgway CO 81432-0010
irm One DesCombes Drive (970)244-1520 (970)626-5308
Broomfield CO 80020 Greeley(03) 3.3 0 0 Rifle(24) 2.50 0 W
(303)464-5811 100010th Street P.O.Box 1908
* Canon City(14) 2 2%' 10.00 Greeley CO 80631 Rifle CO 81650
P.O.Box 1597 (970)350.9733 (970)625-2121
.11 11. Canon City CO 81215-1597 ' Greenwood Village(10) 3 0 1010 *6 Silverthome(61) 2 2% 7500
(719)276-5252 6060 So.Quebec Street P.O.Box 1309
• Castle Rock(47) 3.6 3 hh 1000 Greenwood Village CO 80111-4591 Silverthome CO 80498
100 North Wilcox St. (303)7730252 (970)262-7300
Castle Rock CO 80104 Gunnison(40) 3 5 1050 ' Snowmass Village(57) 3.5 0 8500
•
(303)805-3228 P.O.Box 239 P.O.Box 5010
Central City(60) 4 3% 10.00 Gunnison,CO 81230 Snowmass Village CO 81615
Box 249 (970)641-8162 (970)923-3796
Central City CO 80427 Lafayette(07) 3.5 2.5 0 Steamboat Spgs(28) 4.5 0 0
(303)582-5251 1290 So.Public Rd. P.O.Box 775088
Cherry Hills Village(10) W W 0 Lafayette CO 80026 Steamboat Spgs CO 80477
2450 E.Quincy (303)665-5588 x 3314 (970)879-2060
Cherry Hills Village CO 80110 La Junta(09) 3.25 3 0 Sterling(13) 3 2 IA 0
(303)789-2541 P.O.Box 489 P.O.Box 4000
' Colorado Springs(04) 2.5 2 15.00 La Junta CO 81050 Sterling,CO 80751
P.O.Box 1575 MC225 (719)384-5991 (970)522-9700
.. Lakewood Spgs CO 80901 Lakewood(11) 2 0 15.00 Thornton(12) 3.75 1.5 0
(719)385-5903 480 So.Allison Pkwy 9500 Civic Center Drive
` Commerce City(12) 3.5 2 20.00 Lakewood CO 80226-3127 Thornton CO 80229
P.O.Box 40 (303)987-7630 (303)538-7400
Commerce City CO 80037-0040 Lamar(17) 3.25 3'A 6.00 ' Vail(44) 4.5 0 0
(303)289-3628 102 E.Parmenter St. 75 Frontage Rd 4.0'
Cortex(32) 4.05 li{s 10.00 Lamar CO 81052 Vail CO 81657
210 E.Main Street (719)336-4376 (970)479-2125
Cortez CO 81321 Larkspur(47) 4 0 15.00 ` Westminster(11,12) 3.85 2.5 0
(970)565-8575 P.O.Box 310 4800 W.92nd Avenue
Crested Butte(40) 4 3% 0 Larkspur CO 80118 Westminster CO 80031
P.O.Box 39 (303)681-2324 (303)430-2400 Ext.2065
Crested Butte,CO 81224 * Littleton(10,11,47) 3 2.5 0 Wheat Ridge (11) 2.0 0 20.00
(970)349-5338 7755 W.Berry Avenue 54 7500 W.29th Avenue
Delta(18) 3 0 10.00 Littleton CO 80165 Wheat Ridge CO 80215-6713
P.O.Box 19 (303)7953768 (303)235.2820
Delta CO 81416-0019 Lone Tree(47) 1.5 0 10.00 Winter Park(53) 5 0 60.00
(970)874-7566 8527 Lone TreePkwky. P.O.Box 3327
' Denver(01) 3.5 .5 W Lone TreeCO 80124 Winter Park CO 80482
144 West Colfax Ave. 4' (970)726-8081
Denver CO 80202 7.25' Woodland Park(43) 3 0 50.00
_ P.O.Box 9045
Woodland Park CO 80866-9045
(719)687-9246
r" Direct contact with these home rule cities is suggested in order to receive up-to-date information concerning exemptions, eesP
' Corrections or changes since July 1,2003 update. ' Automobile rentals for less than 30 days. license and procedures.
— ' Occupational Privilege Tax. s Cap at a certain amount.
' Sales tax on food&liquor for immediate consumption. 0) County in which the city is located.See chart on page 1.
' Food for home consumption. W Contact the city directly
DEC-09-2004 07:50Aµ FROM-DEPT OF REVENUE-TAX ANALYSIS 303 866 3087 T-754 P.002/002 F-869
9-Dec-04
City of Mead
Net Taxable Sales (State Definition)
Net Taxable
Years Sales (000's)
FY 2004 $ 852.95
CY 2003 848.37
FY 2003 829.12
CY 2002 767.02
FY 2002 653.78
CY 2001 606.17
FY 2001 622.49
CY 2000 517.37
FY 2000 415.12
CY 1999 331.33
FY 1999 305.69
Unrevlsed Information
—
trim/,L' 2-5-0f r-
ead Town of Mead
P.O.Box 626
441 Third Street
Mead��• q�k&Then Mead,Colorado 80542-0626
- (970)535-4477
December 9, 2003
Division of Local Government DEC 1 6 2003
1313 Sherman Street,Room 521
Denver CO 80203 Del t of Local Alias
Dear Sir or Madame:
Attached is the 2004 budget for the Town of Mead in Weld County, submitted pursuant to
Section(29-1-113, C.R.S.) This budget was adopted by the Board of Trustees on December 8,
2003. If there are any questions on the budget,please contact Shirley Wergin at(303) 776-7423
and 1311 S. Sherman Street,Longmont, Colorado 80501.
The mill levy certified to the County Commissioners is 12.879 mills for all general operating
purposes (not including General Obligation bonds and interest or contractual obligations
approved at elections or other special revenues). Based on an assessed valuation of
$29,959,345.00, the property tax revenue subject to statutory limitation is $358,838.00.
A copy of the certification of mill levies sent to the County Commissioners is enclosed.
I hereby certify that the enclosed is a true and accurate copy of the budget and certification of
tax levies to the Board of County Commissioners of Weld County.
Very truly yours,
•
S irley Wergi
Treasurer
Enclosures (2) Budget
— Certification of tax levy
I
CERTIFICATION OF TAX LEVIES for NON-SCHOOL Governments *
•- * School governments must use forms provided by the Colorado Department of Education(303)866-6600.
TO: County Commissioners of 3^ELD County, Colorado. TheBOARD OF TRUSTEES
(governinof the TOWN OF MEAD hereby certifies the following mill levies to be extended gup upon the
(name of local government)
GROSSZ assessed valuation of$ 29, 959 , 345 . Submitted this date: 12/8/2003
—
PURPOSE LEVY
REVENUE
1. General Operating Expenses [This includes
—
fire pension,unless fire pension levy is voter-
approved;if so,use Line 7 below.] 12 . 8 79 mills
$ 385 , 838
—
2. (Minns) Temporary Property Tax Credit/
Temporary Mill Levy Rate Reduction,
39-1-111.5, C.R.S. < > mills $ < >
t IF THE CREDIT DOES NOT APPLY TO the General Operating Expenses levy
t PI P4SF INDICATE HERE THE LEVY TO WHICH THE CREDIT APPLIES
SUBTOTAL • mills $
3' General Obligation Bonds and Interest
[Special districts must certify separately for each
, pu.debtrsuant to 32-1-1603,C.RS.;see Page 2 of
this furs.If bond levy ended last year,enter date/name]. - mills $
4. Contractual Obligations Approved At R EIS/�j
^ ^ . R Election J CJ S $5. Capital Expenditures [These revenues are not
subject to the statutory property tax revenue limit if
they are approved by counties and municipalities DEC 0 9 2003
through public hearings pursuant to 29-1-301(1.2)
C.R.S. and for special districts though approval from WELD COUNTY ASSESSOR
— the Division of Local Government pursuant to 29-1- .Greeley, Colorado
302(13)C.R.S. or for any entity if approved at
election.] mills $
— 6. Refunds/Abatements [if the gov't.entity is in more
than one cotmty,the levy must be uniform throughout the
entity's boundaries], mills $
'- 7. Other(specify): mills $
TOTAL 12 . 879 mills $ 385 , 838
NO I'L: Certification must be carried to three decimal places only.
NOTE: If you certify to more than one county, you must certify the same levy to each county.
NOI'E: If your boundaries extend into more than one county,please list all counties here:
Counties:
Contact person: Daytime
(print) Shirley Wergin phone: (303) 776-7423
�Slgned: Jj
__ .
Title: Treasurer
aend one completed copy of this form to the Division of Local Government(DLG),Room 521,1313 Sherman Street,Denver,
Colorado 80203 when you submit it to the Board(s) of County Commissioners. Questions?Call DLG at(303)866-2156
I As reported by County Assessor in final certification of valuation;use NET Assessed Valuation to calculate any levy.
Form DLG 70(rev 7/03)
Page 1 of 2
Decembe_ '8, 2003
a
a
TOWN OF MEAD
2004 BUDGET
PRESENTED AT PUBLIC HEARING
December 8, 2003
.- Ric and E. Kraemer
Mayor
r
RE
— n
(di JAL( A t 4 tz.,
Candace Bridgwater
'Town Clerk
Cis
cb
r
GENERAL FUND
•
12/15/2003-11:38 AM
— .." I A B T C
1 / I TOWN OF MEAD J F I GI H I I J
2 I GENERAL FUND
3
I I I I I
6
Year Ending 12/31/2004
6
7 Actual 1st Variance Variance
8 Ref. Actual Budgeted . 8 Months E-D Anticipated Proposed H-D
2002 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11 4001-01 SCHOOL XING GUARD REIMBURSE 2,595 5,654 5,121
12 4002-01 INCOME-SUPPLY DITCH SHARE 0 20000 20,000 (530) 6,900 6,300 646
.- 13 4100-01 PROPERTY TAXES 323,112 358,432 338,467 5 20,000 0
14 4110-01 SPECIFIC OWNERSHIP TAX 39,003 30,000 23,308 {16,692) 358,432 340,000 27,406
15 4120-01 CIGARETTE TAX 5,929 3,500 2,901 (6(599 40,000 40,000 10,000
16 4130-01 FRANCHISE TAX 50,870 53,000 31,261 (599) 6,000 5,800 2,600
17 4150-01 SALES TAX 167,276 140,000 77,928 (62,072) 54,000 55,800 600
18 4210-01 BUSINESS LICENSES 2,151 5,000 570 (4,430){ 4 2,500 2,300 {,430) 155,800 155,800 (2,500
19 4211-01 LIQUOR LICENSES 300 300 300 2,500)
20 4301-01 INTEREST 0 300 300 0
21 4303-01 MISC REVENUE 17,186 11,000 9,725 (6,902) 6,500 3,000 (4,853)
,- 22 4304-01 FLAG DONATION 17,986 3,000 9,725 6,725 11,000 3,000 0
23 4306-01 Ft Fr•TION REGIBIURSEMENTS 0 0 1,150 1,150 1.150 0 0
24 4407-01 LAND USE FMS 058 0 0 0 0 0 0
25 4410-01 ANIMAL LICENSES 3,050 3,000 360 540 540 (2.300)
26 4413-01 APPLICATION PEES591 300 321 21 600 600 300
274414-01 BUILDING INSPECTION FEES1,950 0 7,205 7,275 7,200 2,400 2,400
28 4415-01 BUILDING FEE-TOWN 50,902 51,000 97,208 1.1 46,208 125,680 125,000 74,000
29 4416-01' USE TAX 1,125 1,500 4,185 (375) 1,680 1,600 000
•
30 4420-01' COURT FINES 17,486 20,000 34,487 14,487 45,000 52,000 32,000
31 4955-01 MISC.BILL BACKS 5,400 8,000 3,325 (4,675) 5,000 4,500 (3,500)
32 !956-0I BI L,RACK-ATTORNEY 57,934 60000 50894 0 1,907 2.000 _ 000
33 4957-01 BYIBACK-ENGINEER (9,736) 45,000. 85,000 1.014 ,c
34 4958-01. BILL RACK•PLANNER 73,939 70000 96,953 25,047 144,000 4 000 1 r its; 4-
35 _' HOWLANUSETTIEMENT 3,935 7,500 953 (7;500) '. ..2,000,. 4500 2'.�r't p[..
.— 36 - - 17,500 0 (17,500) „ 2,000 17,W0 !..ag
.7 Total Currept Revenue. 837,294 867186 809,420,8 9001-01 Beginning rand Balance - _ 1,3163681,257085 :75H5 634,387 40..,726 316,368 310368 257,084
40 - TOTAL REVENUE 1,471,681 1,270,912 1,125,788
'— 41 1,392,170 1,280,009 9,097
42 TOTAL EXPENDITURES 1,155,313
43 1,268,158 728,634 1,135,086 1,276,585 8,427
44 Balance End of Year 316,368 2,754 397,154
257,084 3,424 670
4... meadbudget2oo4FINALbrMayoresignatura.xis
Page 1 of 36
12/15/2003-11:38 AM
B lc I D I E F I G H) I I J
1 TOWN OF MEAD I
i 2 GENERAL FUND
3
I I 1 I I I I
4 Year Ending 12/31/20045
6
7 Actual 1st Variance - Variance
Actual Budgeted 8 Months E-D Anticipated Proposed H-D
8 Ref. 2002 2003 2003 over(under) 2003 2004 over(under)
45 EXPENDITURES:
46
47 5000-01 TOWN CLERK 30;014 31,148 - 22,506 (8,642) 32,570 33,327 2,179
48 5001-01 ACCOUNTING FEES 14,638 15,000 8,367 (6,633) 14,000 15000 0
•- 49 5002-01 AUDIT FEES 3,234. 4,000 0 (4,000) 4,000 4,000 0
50 5003-01 TOWN ADMINISTRATOR 77,272 76,664 55,255 (21,409) 79,955 81,708 5,044
51 5004-01 DUES/MEMBERSHIP Z281 5,000 783 (4,217) 3,000 3,000 (2,000)
52 505-01 INSURANCE&BONDS 6,225 8,000 225 (7,775) 1,900 7,000 (1,000)
53 5006-01 LEGAL FEES 83,815 80,000 24,594 (55,406) 55,000 55,000 54 5007-01 MISCELLANEOUS 12;347 2,000 1,993 (25,000)
55 5008-01 EXPENSE-SUPPLY DITCH SHARE 0 20,000 17,820 0) 20,000 3,000 31500
56 5009-01 PUBLISHING 3,279 9,000 1,903 (19,500)
) 1
57 5010-01 POSTAGE 4,750 4,000 4,604 604 6,000 8,000 4,000... 585012-01 WELD TREAS.FEES 3,244 3,500 3,393 (107) 3,600 4,000 500
59 5013-01 UTILITIES 4,115 4,250 1,778 (2,472) 3,000 3,300 60 5014-01 TELEPHONE 6;022 5,900 4,175 (950)
1
(1 ) 6,300 7,000 61 5015-01 OUTSIDE SERVICES 5,167 3,000 3,217 217 4,500 5,000 2,000
62 5016-01 FLAG EXPENSE 0 0 2,169 2,169 2,169 0 0
63 5018-01 COMPUTER EQUIP. 307 6,000 212 (5,788) 6,000 5,000 64 5020-01 CAPITAL OUTLAY 104,300 23,500 10,558 (1,500
65 5025-01 ENGINEERING (26,179) 24.00 23,00 1,500
58;012 38,000 11,821 (26,179) 24,000 23,000 (15,000) _66 5026-01 TOWN PLANNER_ 4,986 5,000 1,498 (3,502) 5,000 75,00 70,000
67 5027-01 COMMUNITY CONTRIBUTION 1,250 2,000 2,000 0 2,000 3,000 1,00
68 5029-01 ANIMAL IMPOUND FEES 1,200 2,000 100 (1,900) 500 t 500 X0 1_69 5030-01 BUILDING INSPEsCTION • 27,124 -.44,000 48,684 4684 __87,500 87500 43;500 ,7D 5031-01 COUNTY CLERK FEES 484 500 243 (257) 500} 500
71 5032-01 MAINTENANCEMEN 31,629 29463 21,514 (7949) 31900
�- x,._72 033-01 OFFICE ASSISTANT 13,814 20,579 14,959 31,537 2;074 _ `-.
'3 5034-0E.SCHOOL CROSSING,GUARD • 10.125 11;310 5062 (5,620) 21,800 22,034 _ 455_ :_..
/4 5035-01 DEV.BILL BACK?,MISC. -(5,427) 11,500. 12,500 1,200'
0 - 0 427 427 5,000 500 75 5036-01 DEV.BILL BACK-ATTY 57,934 60,000 51,283 (8,717) 75,000 75,000 15,00:'
76 5037-01 DEV.BILL BACK-ENG 72,899 70,000 96,736 26,736 145,000 80,000 10,000
77 5038-01 DEV.BILL BACK-PLANNER 3,935 6,000 953 (5,047) 4,000 4,000 (2,000)
78 5040-01 MILEAGE 1,033 2,000 349 (1,651) 1,000 1,000 (1,000)
79 5041-01 PAYROLL TAXES 16,153 17,100 11,797 (5,303) 18,000 17,391 291
80 5050-01 WORKERS COMP.INS. 1,199 1,200 2,283 1,083 2,283 1,400 200
.-. 81 5051-01 HEALTH INSURANCE 23,752 24,322 25,984 1,662 35,000 35,000 10,678
82 5102-01 ORDINANCE CODIFICATION 0 7,500 0 (7,500) 0 7,500 0
83 5103-01 PROSECUTING ATTORNEY 1,151 2,000 781 (1,219) 1,500 1,500 (500)
84 5104-01 CODE ENFORCER 10,985 13,000 8,731 (4,269) 13,000 13,250 250
85 5105-01 COURT CLERK 3,249 3,042 2,255 (787) 3,402 3,467 425
86 5106-01 JUDGE 2,041 2,137 1,417 (720) 2,137 2,178 41
87 5107-01 SHERIFF CONTRACT 16,455 22,000 7,622 (14,378) 19,000 32,000 10,000
88 5108-01 COURT BONDS&FEES 72 200 0 (200) 200 200 0
89 5109-01 SENIOR COORDINATOR 1,950 2,400 1,686 (734) 2,512 2,561 161
90 5114-01 CODE ENFORCER MISC. 490 500 120 (380) 250 500 0
91 5150-01 ELECTIONS 1,214 4,000 666 (3,334) 1,500 1,500 (2,500)
92 5200-01 MAYOR&TRUSTEE FEES 11,650 13,800 8,825 (4,9751 13,800 13,800 0
93 5201-01 OFFICE SUPPLIES 9,446 9,500 4,786 (4,714) 7,500 10,000 500
94 5206-01 CLEANING SERVICES 2,247 3,700 1,998 (1,702) 3,000 2,915 (785)
95 5305-01 TRASH REMOVAL 9,081 10,000 5,981 (4,019) 10,000 10,000 0
96 5306-01 REPAIR/MAINTENANCE 1,828 3,000 3,709 709 5,600 6,000 3,000
975307-01 MAINT.CONTRACTS- 1,572 2,500 913 (1,587) - 1,500 2,000 (500)
98 5308-01 COPIER RENTAL 2,783 2,800 1,623 (1,177) 2,800 2,800 0
99 5311-01 CONFERENCES&SCHOOLS 8,750 9,000 4,494 (4,506) 7,500 9,000 0
100 5400-01 MOSQUITO SPRAYING 0 5,000 12,681 7,681 13,000 28,000 23,000
1015502-01 SENIOR CENTER 960 1,000 0 (1,000) 1,000 1,000 0
102 5612-01 TOWN HALL LEASE-PRINCIPAL .21/6'59 20,206 10,150 (10,056) 20,206 21,649 1,443
103 5613-01 TOWN HALL LEASE-INTEREST 4,173 2,748 1,559 (1,189) 2,748 1,215 (1,533)
„.. 104 5702-01 CHRISTMAS DECORATIONS 1,167 1,000 0 (1,000) 1,000 2,000 1,000
105 5703-01 PDO CHANGE (946) 8,400 0 (8,400) 0 500 (7,900)
1065900-01 RETIREMENT 5,949 8,050 3,209 (4,841) 5,000 8,019 (31)
Iro7 5902-01 TRANSFER TO ROAD FUND-GE 240,000 100,000 66,664 (33,336) 100,000 100,000 0
3 5903-01 TRANS TO DRAINAGE FUND-GF 24,000 30,000 20,000 (10,000) 30,000 20,000 (10,000)
.09 5905-01 TRANS.TO PARK FUND-GF 86,004 87,144 58,096 (29,048) 87,144 96,000 8,856
110 5906-01 FINANCE CHARGES 121 120 0 (120) 0 0 (120)
1115907-01 CONTINGENCIES 0 131,500 0 (131,500) 0 35,000 (96,500)
•
,.. meadbudget2004FINALforMayoessignature.xls Page 2 of 36
i
12/15/2003-11:38 AM
A B I C I D I E I F I G I H I I J
1
TOWN OF MEAD
2 GENERAL FUND
3 I I I I I I_ I
... 4 Year Endin• 12/31/2004
5
6 Actual 1st Variance Variance
7 Actual Budgeted 8 Months E-D Anticipated Proposed H-D
8 Ref. 2002 2003 2003 over(under) 2003 2004 over(under)
11 5908-01 BAD DEBT 395 51000 2,522 (2,478) 6,000 6,000 1,000
11 5913-01 INTERNET 448 3,'500 111 (3,389) 400 400 (3,100)
11 MERIT RAISE POOL 07,665 0 (7,665) 0 9,000 1,335
11' RED DEER LAKE MAINT. 0 .6„000 0 6 000 6,000 10,000 4,000
11: COMPREHENSIVE PLAN UPDATE 0 5,000 0 (5,000) 0 0 (5,000)
11 DOWNTOWN EVENTS 0 30,000 0 (30,000) 0 12,000 (18,000)
11; GRANT WRITER 0 10,000 0 (10,000) 0 3,000 (7,000)
11 ZONING CODE 0 1,000 0 (1,000) 0 0 (1,000)
„r 1•. HOWLAND SETTLEMENT EXPENSE 0 17,500 0 0 2,000 17,500 0
121 CENTENNIAL PLANNING 0 3000 0 0 0 3,000 0
1': EMERGENCY PREPAREDNESS 0 1000 0 (1,000) 0 1,000 0
1 GENERAL FUND EXPENDITURES 1,155,313 1,230,348 690,824 (539,524) 1,097,276 1,238,185 7,837
124 Amendment 1"Eme!en Reserves" 30,000 37,610 37,810 37,810 38,400
1-_ TOTAL EXPENDITURES 1 155 313 1 458 728 634 539 524 1 135 086 1 276 585 8 427
12
1
. 1=
1 �
131
1 .
1e
— 1 ,
135 —
136
907 .. -- _
938 • _
— 39
10
141
142
•
..., 1
144 • i
146
147
illob 148
149
. . _
15
151
152
• 153
154
155
156
▪ 15
158
159
160
181
16 _---��
163
164
w
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r�
... meadbudget2004FINALforMayor'ssignalure.xls Page 3 of 36
ROAD FUND .
•
-
•
•
•
-
^
12/15/2003.11:38 AM
_ A B I C ,I 0 I E I F I G I H I I J
1 TOWN OF MEAD —
2 ROAD FUND
_ 3 I I I I I I
4 Year Ending 12/31/2004
5
6 Actual 1st 8 Variance
Variance
7 - Actual Budgeted Months E-D Anticipated Proposed
-D
+. 8 Ref. 2002 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11
12 4000-02 SALE OF EQUIPMENT 2,575 8,400 750 (7650) 8,000 29,500 21,100
^ 13 4001-02 TRANSFER FROM G.F. 240,000 100,000 66,664 (33,336) 100,000 100,000 0
14 4150-02 SALES TAX 167,276 140,000 77,928 (62,072) 155,800 155,800 15,800
15 4160-02 HIGHWAY USERS TAX 77,911 65,000 43,825 (21,175) 60,000 66,000 1,000 _
16 4170-02 MOTOR VEHICLE REG.FEES 10,535 9,000 6,070 (2,930) 10,500 9,500 500
•- 17 4180-02 ROAD&BRIDGE TAX 32,049 15,000 28,063 13,063 32,000 32,000 17,000 _
18 4182-02 STREET CUT PERMn' 1,255 700 2,699 1,999 3,640 3,000 2,300_19 4303-02 MISCELLANEOUS 1,461 100 9,507 9,407 9,507 0 (100)20 4416-02 USE TAX 17,463 20,000 34,487 14,487 44,000 52,000 32,000
21 US HOME REVENUE 100,000 0 0 0 0 50,000 50,000
^ 22 PROCEEDS PLOW TRUCK 35,505 0 0 0 0 0 0
23
24 Total Current Revenue 686,030 358,200 269,993 423,447 497,800 139,600
25 3002-02 Beginning Fund Balance 150,801 15,098 251,793 251,793 318,633
... 26
27 - TOTAL REVENUE ' 836,831 373,298 521,786 675,240 816,433 443,135
28
29 TOTALEXPENDITURES 585,038 335,844 258,259 356,607 775,330 439,486
30
^ 31 3002-02 Balance End of Year 251,793 37,454 263,527 318,633 41,103 3,649 .
IS
es
Ss
r�
... meadbudget2004FINALforMayorssignature.xls Page 4 of 36
12/15/2OO3-11:38 AM
I
o B I CIDIE I F I G I " I I J
TOWN OF MEAD
J 2 ROAD FUND
3 1 I I 1 I I
5 Year Ending 12/31/2004
'
6 Actual 1st 8 Variance
7 Actual Budgeted Months E-D Anticipated Proposed Variance
^ 8 Ref. 202 2OO3 2003 over(under) An 2OO32 O4 over(!-D
under)
32
33 EXPENDITURES;
34.5000-02 TOWN CLERK 1,742 1,832 1,324 ---
35 5OO5-O2 INSURANCE 6,000 7,000 (5O8) 1,916 1,960 128
146 6 2`86 1600 4,60-- 251 1OO 386 286 600 600 6 36 5OO7-O2 MISCELLANEOUS3,500
37 5OO8-O2 SHOP RENTAL 1,725 80
38 5O13-O2 UTILITIES 1,005 O (1,725) 1,725 1,725 O
39 5O14-O2 TELEPHONE 14,245 16,000 11,459 (4,541) 17,200 19,000 3,000
40,5020-02 EQUIPMENT PURCHASE 1692 1,700 2,304 604 350 4,000 2,300
^ 41 5025-02 ENGINEERING 36,105 8,000 9 O 090 4,000 8,000 O
42 5O26-O2 TRAFFIC STUDY 29 128 13,000 17,550 4 550 25 OOO 52,500 39 50
43 5O32-O2 MAINTENANCE MEN O 2,000 1O (2,000) O O (3,768
44 5O41-O2 PAYROLL TAXES ,2O5 50,404 33,041 (13,483) 51,957 4,471,17 3,768
.- 45 5O5O-O2 WORKERS COMP INS 3,205 4,360 3,042 (1,318) 4,294 100
46'5O51-O2 HEALTH INSURANCE 535 6OO 719 1 119 719 7OO 1OO
47.5301-02 OPERATING SUPPLIES 11452 11,868 1,970,910 ��3 � 1500 16,000 4,132
4853O3-O2 GAS 8 OIL 3,452 6,000 (4,030) 3,000 6,000 O
49 53O4-O2 TOOLS 3,568 5'OOO 2,896 (2,104) 4,400 6,000 1,000
'� 5O53O6-O2 REPAIRS - 195O 2,000 631 1369 150 2,000 0
8,519 10,000 5,513 4487 10,000 10,000 - O
51)53O7-O2 SEALCOATING
_ 11,503 10,000 8,265 (1 735) 1O OOO 12,00 2 OOO
52 53O8-O2 WEED CONTROL 1,536 1,500 1,501
53 53O9-O2 ROAD SAFETY EQUIPMENT 1,732 1,500 1- t 6OO 2,500 500
1
54 5311-O2 SCHOOLS AND CONF. . '25O 25O 1 `'OO 1,000 O
55 5316-02.- SHOP-REPAIRS 39O O O 9 O O O
2,214 :3,000 2,411 289 9, 0 45OO 1,500 '
565,317-02 STREET PATCHING-ASPHP,L : .6,432 15,000 10,452 ' 4548 15 O OOO 20,00 5,000
57 56O3-O2 STREET SWEEPING - 9,598 10,00 5,415
^ X58 56O7-O2 STREET SIGNS - 4,181 4,000 1,504 (4 496)' 12,500 13,00 -1,000 ,
56O8-Q2 STREET IMPROVEMENTS 336,351 1OO_OOO 95828 (2,496) 2,500 3,000 (1,000)
,
5609-02 SNOW REMOVAL 92O :6,000 ' - 2,604 (3,396) 106,000. 356,000 -. 250,00, ,gyp,
a1 561O-O2 :DUST.CONTROL - (3,353). 8O53 6,000 0 ;�7
5,088 4,000 4,053 53 •-053 - 4,000 0
`^
-8115611-02 GRAVEL AND GRADING 2,564 4,00 1,003
63 5612-O2 BACKHOE LEASE PAYMENT 9,930 16326 7,795 (2,531 2,000 3,000 (1,000)
84 5613-O2 STREET STRIPING 3,500 5,000 3,889 (31,( ) 10,326 10,879 553
65 5614-O2 2OO2 FORD PICK-UP 4,780 6,575 3.287 ,21811)8) 6,575 6,000 1,000
66 5616-O2 INTEREST EXPENSE 4503 3,500 2,457 (3,288)
1 6,575 6,910 335
67:5617-O2 1998 DUMP PMT O43 3,500 2,593 907
^ 68 5619-02 EQUIP.RENTAL 16 258 O O 1 O O O O O
69 562O-O2 PDO CHANGE 235 1,500 409 (1,091) 1,000 1,500 O
7O 59OO-O2 RETIREMENT i 698 I 98 3,000 O (3,000) O 1OO (2,900)
2,740 1,524 9 218 2,742 2,320 422
71 59O6-O2 CR 36 AND 7 INTERSECTION
72 - O O 9,030 9030 20000 130,000 130,000
„� MERIT RAISE POOL O 2,612 O (2,612) O 2,900 288
73 STREETLIGHTS O O O
74 O O O O
75 ROAD FUND EXPENDITURES 585,038 335,844 258,259 356,607 775,330
76
�- 77 TOTAL EXPENDITURES 585 335844 258 3� 775 33O 439 486
78
79
8O
..•••
81
82
83
84
85
^ 86
87
^ meadbudge1204FINALforMayoesignature-xls Page 5 of 36
WATER FUND
-
12/15/2003-11:38 AM
,� i1 A B -I C I D I E I F I G ' HI !
TOWN OF MEAD
2 WATER FUND
3 I I I I I
4 Year Ending 12/31/2004
5
6
7 Actual 1st 8 Variance Variance
8 Ref. Actual Budgeted Months E-D Anticipated Proposed H-D
2002 2003 2003 over(under) 2003 2004 over(under)
9 OPERATING REVENUES:
10
11 4303-03 MISCELLANEOUS 925 0 0 0 0 0 12 4500-03 OFFSITE WATER PAYMENT 0 0 0 0
0 0 0 0 13 4800-03 WATER SALES —
14 124,545 0 0 0 0 0 0
15 Total Current Revenue 125,470
16 Fund Balance 0 0 0 0 0 0
17 181,975 0 0 0 415,469 0 0
00.
18 TOTAL OPERATING REVENUE 307,445 0 0 415,469 0 19 TOTAL NON-OPERATING REVENUE 95,773 0
20 TOTAL REVENUE 0 1,466 1,466 0 0
21 403,218 0 1,466 416,935 0
22 TOTAL OPERATING EXPENDITURES 1,275,658 0 396,935 396,935 0 23 TOTAL NON-OPERATING EXPENDITURES 3,123 20,000 20,000 0
24 TOTAL EXPENDITURES 26,935 0 (20,000)
25 1,278,781 20,000 416,935 416,935 0
26 Balance End of Year (875,563) (20,000) (415,469) 0 0 20.000
27
28 OPERATING EXPENDITURES:
29
30 5000-03 TOWN CLERK 1,338 0 0 0 0 0 31 5001-03 AUDIT FEES • 0 0 0
32 5002-03 WATER REBATES 0 0 0 0
0 0 396,935 396,935 396,935 0 33 5005A3 DUES/NFRWPA 125 0 34 5005.03 INSURANCE&BONDS 38. 0 0 0 B :A ,�:
35 5008-03 LEGAL FEES 5,255 0
"M6 5007-03 MISCELLANEOUS . .-. 19 0 _. 0 0 0 0
., - 0 .. 0 0 '., 0 '17 5010-03 POSTAGE � 758 0 0 - 0 0 0 -- 0' "
38 5013-03 UTILITIES 123' 0 0 0 0 0 ,
39 5016-03 LOSS ON SALE OF ASSETS 0
1
40 5020-03 CAPITAL OUTLAY ,103,730 0 0 0 0 0 0
41 5026-03 PROFESSIONAL FEES 0 0 0 0 0 0 0
4,524 0 0 0 0 0 0
- 42 5032-03 MAINTENANCE MAN 26,141 0 0 0 0 0 43 5033-03 OFFICE ASSISTANT 1,993 0 0
0 0 0 0 0
44 5041-03 PAYROLL TAXES
45 5050-03 WORKERS COMP INS.- 2,338 0 0 0 0 0 0
622 0 0 0 0 0 0
46 5051-03 HEALTH INSURANCE
47 5201-03 OFFICE SUPPLIES 7,722 0 0 0 0 0 0
48 5202-03 LTWD PAYMENTS 22 0 0 0 0 0 0
49 5204-03 WATER TESTING 57,353 0 0 0 0 0 0
50 5301-03 OPERATING SUPPLIES 351 0 0 0 0 0 0
51 5302-03 CHEMICALS 2,593 0 0 0 0, 0 0
52 5303-03 GAS AND OIL 0 0 0 0 0 0 0
53 5306-03 REPAIRS/MAINTENANCE 935 0 0 0 0 0 0
229 0 0 0 0 0 0
54 5310-03 DITCH WATER ASSESS.
55 5617-03 1998 DUMP 5,274 0 0 0 0 0 0
56 5625-03 WATER LINE LOCATOR 0 0 0 0 0 0 0
178 0 0 0 0 0 0
57 5800-03 DEPRECIATION 23,448 0 0 0 0 0 58 5620-03 PDO CHANGE 68 0 0
0 0 0 0 0
59 5900-03 RETIREMENT
1,096 0 0 0 0 0 0
60 5901-03 OFFSITE WATER PAYMENT - 28,018 0 0 0 0 0 61 DEBT SERV.INT-WATER 0 0 0 0
62 WEED CONTROL AT LAKES 0 0 - 0 0
63 CONTINGENCIES 0 0 0 0 0 0 0
64 0 0 0 0 0 0 0
65 TOTAL OPERATING EXPENDITURES 1 275 858 0 396 935 396 935 396 935 0
66 0
, meadbudget2004FINALforMayor'ssignatureids Page 6 of 36
IIMMI
12/15/2003-11:38 AM
_`
B ICIDIEIFIGIH ] I
1
— _ TOWN OF MEAD
2 WATER FUND
3
4 _ Year Ending 12/31/2004
56
Actual lst8 Variance _ Variance
7 Actual Budgeted Months E-D Anticipated Proposed H-D
8 Ref. 2002 2003 2003 over(under) 2003 2004 over(under)
67 - NON-OPERATING REVENUE:
68
69 4100-03 PROPERTY TAXES FOR G.O,DEBT 0 0 0 0 0 0 0
70 4301-03 INTEREST 6,473 0 1,466 1,466 1,466 _ 0 0
.� 71 4850-03 WATER ACQ.CHARGE __ 89,300 0 0 0 0 0
72 4851-03 CAP INVEST/REPAIR FEE 0
0 0 0 0 0 0 0
73 4852-03 CONNECTION/EQUIP CHARGE 0 0 0 0 0 0 0
74
75 Total Non-Operating Revenue 95,773 0 1,466 1,466 1,466 0 0'
76 Cash Available — — 0 0
77
78 TOTAL REVENUE 95,773 0 1,466 1,466 - 1,466 0 0
79' -
-' 80 TOTAL EXPENDITURES 3,123 20,000 20,000 0 20,000 0 81 (20,000)
82 - Balance End of Year 92,650 (20,000) (18,534) 1,466 -18,534 0 20,000
83
84 --
85 NON-OPERATING EXPENDITURES: -1--86
. -
87 5012-03 WELD TREAS.FEES _ 0 0. 0 0 0 0 0 88 5020-03 WATER RIGHTS 0 0 0 0 0 0
89 5025-03 ENGINEERING 1,125 0
0 0 0 0 0 Q
90 5316-03 LINE REPAIR AND UPGRADE 0 0 0 r 0 0 0 91 56 -1-'-03 SOFTWARE AND SUPE+QRT 598 - 0 0 0 0
92 RED DEER LAKE MAIftT-; _ 0 0 0 7 ' 0 0 0
93 CAPITAL OUTLAY-METER PITS 0 0 0 0 0 0 0
^94 DRY LAKES IMPROVE _ENT . 0. 0 0 0 0 0
5 LINE REPLACEMENT "' ••
_ 0 0 0 0 0 t 0 , L
96 TRANSFER TO GF FOR WATER RIGHTS 0 20,000 20,0.00 0 20,000 (20,000)
97 HOWLAND TAP FEE REMITTED 140.0 0 0 0. 0 0; 0
.-- 98 HOWLAND TAP FEE LIABILITY 0 0 0 0 0 0; 0
99 _
100 TOTAL NON-OPERATING EXPENSES: 3,123 20,000 20,000 0 20,000 0 (20,000)
Om.
olit
C.
RIM
meadbudget2004FINALforMayor'ssignature.xls Page 7 of 36
SEWER FUND
i
12/15/2003-11:38 AM
A B
-. 1 I ° I ° E I F I G I H I I J
TOWN OF MEAD
„di
2 SEWER FUND
3 f I I I I
— 4 Year Ending 12/31/2004
5
6 Actual 1st Variance Variance
7 Actual Budgeted 8 Months E-D Anticipated Proposed H-D
.— 8 Ref. 2002 2003 2003 aver(under 2003 2004 over(under)
9 OPERATING REVENUES:
10
11 4800-09 USER FEES _ 85,263 93,000 62,144 (30 856) 93,000 93,000 0
12 4956-09 DEV.BILL BACK-SEWER 0 0 0 0 0 0 0
13
14 Total Current Revenue _85,263 93,000 62,144 0 93,000 93,000
15 Fund Balance (53,897) (40,157) (40,157) 0 (40,157) 38,107
16
,� 17 TOTAL OPERATING REVENUE 31,366 52,843 21,987 52,843 131,107 78,264
18 TOTAL NON-OPERATING REVENUE 10,336 152,464 166,160 0 250,380 482,120 329,656
19 TOTAL REVENUE - 41,702 205,307 188,147 0 303,223 613,227
20
21 - TOTAL OPERATING EXPENDITURES _77,503 99,501 58,506 90,950 108,947 9,446
"- 22 TOTAL NON-OPERATING EXPENDITURES 4,356 135,000 7,855 20,000 365,000 230,000
23 .- TOTAL EXPENDITURES 81,859 234,501 66,361 110,950 473,947
24
25 - Balance End of Year (40,157) (29,194) 121,786 38,107 139 280 168 474
26
27 OPERATING EXPENDITURES:
28
29 5000-09 TOWN CLERK 0 1,832 1,183 (649) 1,775 1,960 128
30 5001-09 AUDIT FEES - 482 600 0 (600) 600 750 150
31 5003-09 SEWER MAINT MAN 24,000 25,200 16,800 (8,400) 25,200 26,460 1,260
32 5004-09 DUES AND MEMBERSHIP -0 0 3,725 3,725 3;725 4,500 4,500 2 33 5005-09 INSURANCE 5294 4,500 141 (4,359) 500 2,000
34 5006-09 LEGAL FEES- 183 2,000 419 (2,500)_ 35 5007-09 MISCELLANEOUS (1(100) 1,100 2,000 - 0
^38 5008-06 TOWN ADMINISTRATOR 0 100 0 (100) 100 100 0 - -
.7 50,10-09 POSTAGE - -- 0 4,035 2,908 (4127): 4,208 4,300. . _255a_ate$ -
758 1500 1500 0 1,500 2,000 500 38 5013-09 UTILITIES
39 5014-09 TELEPHONE 16,034 18,000 10422 (7,578) 11, 00 17,600 .(450)
1,108 1,300 715 (585) 1,100 1,250 (50)
.. 40 5032-09 MAINTENANCE MEN 4,433 6,301 4,615 (1,686) 6,495 6,771 470
41 5033-09 OFFICE ASSISTANT _ 2,735 2,287 1,662 (625) 2,422 2,448 161
42 5041-09 PAYROLL TAXES __569 1,206 829 (377) 1,189 1,238 32
43 5050-09 WORKERS COMP INS. 101 150 144 (6) 150 200 50
44 5051-09 HEALTH INSURANCE 1,903 2,538 2,148 (390) 2,900 3,400 862
_45 5201-09 OFFICE SUPPLIES/COMPUTER SUPPORT 702 1,500 1,500 0 1,500 2,000 500
46 5204-09 SEWER TESTING 1,828 3,000 983 (2,017) 3,000 4,000 1000
47 5301-09 OPERATING SUPPLIES 1,264 5,900 161 (5,739) 2,000 3,500 (2,400)
48 5302-09 CHEMICALS 1,929 2,000 582 (1,418) 2,000 2,500 500
-.- 49 5303-09 GAS&OIL _ 1,030 1,500 639 (861) 1,500 1,000 (500)
50 5306-09 REPAIRS AND MAINTENANCE 8,541 6,000 3,446 (2,554) 6,000 7,500 1 500
51 5307-09 SAFETY EQUIPMENT 0 500 0 (500) 250 250 (250)
52 5612-09 EQUIPMENT LEASE 0 500 0 (500) 250 250 (250)53 5620-09 PDO CHANGE-SEWER ^ 353 991 0 (991) 0 400 (591)- 54 5621-09 DISCHARGE PERMIT 1,255 1,500 2,086 586 2,086 3,000 1,500
55 5621-09 SEWER JETTING 2,716 2,500 1,432 (1,068) 2,500 5,500 3,000
56 5625-09 LINE LOCATOR 15 600 136 (464) 400 600
57 5900-09 RETIREMENT 270 746 330 (416) 600 700
58 MERIT RAISE POOL 0 715 0 (46)
(710
59 CONTINGENCIES . 0 0 ) 0 770 55
60 0 0 0 0 0
61 TOTAL OPERATING EXPENDITURES 77,503 99,501 58,506 (40 995) 90,950 108,947 9,446
62
meadbudge12004FINALforMayorssignature.xls Page 8 of 36
12/15/2003--11:38 AM
A B
O f 0 I E I F I G I H 1 I J
1 TOWN OF MEAD
2 SEWER FUND
I I I I I
4 Teat-Ending 12/31/2004
5
6 Actual 1st Variance
7 Variance
Actual - Budgeted 8 Months E-D Anticipated Proposed H-D
8 Ref. 2002 2003 2003 •ver(under 2003 2004 over(under)
63 NON-OPERATING REVENUES:
84 4301-09 INTEREST _ 1,696 2,464 1,160 (1,304) 1,740 1,740 (724)
65 4119-19 SEWER TAP ON FEES 0 150,000 165,000 15,000 240,000 250,000 100,000
66 4303-09. MISC. 0 0 0 0 0 0
_ 6
68 Current Revenue • 1,696 152,454 166,160 13,696 241,740 251,740 99,276
69 Beginning Fund Balance 8,640 0 0 8,640 230,380
70 Total Current Revenue 10,338 152,464 166,160 250 380 482 120
71 •.--_
'ai 72 _
73 TOTAL NON-OPERATING REVENUE 10,336 152,464 168,160 13,696 250 380 482 120 329,656
74 TOTAL NON-OPERATING EXPENDITURES 4,356 135,000 7855 (127 145) 20,000 365000 230,000
75
... 76 - Balance End of Year 5,980 17,484 158,305 140 841 230 380 117120 99,656
77
78 NON-OPERATING EXPENDITURES:
79
.� 80 5020-09 CAPITAL OUTLAY _ 0 10,000 161 9,839) .5,000 10,000 0
81 5025-09 ENGINEERING. _ 4356 10,000 7,694 2,306 15,000 45000 35000
82 5025-09 ENGINEERING EASEMENT - 0 37,000 -0 (37,000) 0 0 37,000)
83 5025-09 MASTER PLAN STUDY i 0 20,000 0 (20,000) 0 0 '20,000)
84 FINANCIAL RATE STUDY 0 8,000 0 (8,000) 0 10,000 2,000
... 85 5026-09 PLANT IMPROVEMENTS-(2) 0 50 000 0 (50,000) 0 300,000 25000,0
86 DEPRECIATION i . 0 0 0 0- 0 0
88 . 'TOTAL NON-OPERA21NGEXPENDTTURES 4 356 135000 7855 MEM 20000 365 000 2M0
89
41
95
96
97
98
•
mom
meadbudget2004FINALforMayorssignaiure.xls Page 9 of 36
-
CONSERVATION TRUST FUND
Ana
12/152003-11:38 AM
1 A B I D I D I E I F I G I H I J
TOWN OF MEAD
-^ 2 CONSERVATION TRUST FUND
- 3 I I I I I I
4 Year Endin 12/31/2004
5
6 Actual 1st 8 Variance Variance
7 Actual Budgeted Months E-D Anticipated Proposed H-D
- 8 Ref. 2002 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11 4181-04 LOTTERY MONEY 20,021 16,000 15,155 (845) 20,000 20,000 4,000
- 12 4301-04 INTEREST 142 164 38 (126) 57 57 (107)
13
14 Total Current Revenue 20,163 16 164 15,193 20,057 20,057 3,893
15 3004-04 Beginning Fund Balance 2,265 8,429 10,428 10,428 6,485 (1,944)
16
- 17 TOTAL REVENUE 22,428 24,593 25,621 30,485 26,542 1,949
18
19 TOTAL EXPENDITURES 12,000 24,000 16,000 24,000 26,400 2,400
20
-
21 Balance End of Year485 142 (451)
10,428 593 9,621 6,
22
23
24 EXPENDITURES:
25
- 26 5902-04 TRANSFER TO PARK FUND - 12,000 24,000 16,000 8 000 4 24,000 26,400 2 400
27
28
29 TOTAL EXPENDITURES 12 000 24 000 16,000 8 000 24 000 26 400 2 400
30
31
0-.m 37 - . .
38
39
41
42
43
.. 44
45
46
47
48
... 49
50
51
52
— 53
54
55
56
57
— 58
59
60
— meadbudget2004FINALforMayo'ssignature.xls Page 10 of 38
— a
•
•
PARK FUND
on
12/15/2003-11:38AM
�l 1 A B I D I D I E I F I G I H I I J
TOWN OF MEAD
2 PARK FUND
•-•• 3 I I I I 1 I I
4 _Year Ending 12/31/2004
H ,Actual 1st 8 Variance Variance
_ H Actual Budgeted Months E-D Antidpated Proposed H-D
Ref. 2002 2003 2003 over(under) 2003 2004 over(under)
REVENUES:
10 -
4004-05 TRANS.FROM CONS.TRUST 12,00024,000 16,000 (8,000) 24,000 26,400 2,400
4005-05 TRANS FROM GEN FUND 86,004 87,144 58,096 (29,048) 87,144 96,000 8,856
_
MISC. 1 500 0 1,507 1,507 1,507 1,500 1,500
®�CASH IN LIEU 0 0 0 0 0 0
® Total Current Revenue 99,504
111,144 75,603 - 112,651 123,900 12,756
Beginning Fund Balance 24,325 26,157 30,424 30,424 34,777 8,620
®
_ � TOTAL REVENUE 1 137,301 106,027 143,075 158,677 21,376
TOTAL EXPENDITURES 93,405 137,288 76,633 108,298 157,170 19,882
El Balance End of Year 30 424 13 29,394 34 777 , _ 1 507 1,494
EXPENDITURES:
•
5000-05 TOWN CLERK 1,742 1,832 1,176 (856) 1,768 1,960 128
5005-05 INSURANCE 3,742 5,000 148 (4,852) - 500 2,000 (3,000)
r 5007-05 MISCELLANEOUS 30 50 0 (50) 0 0 (50)
saw 5013-05 UTILITIES-WATER 3,544 5,000 4,646 (354) • 7,000 8,000 3,000
5020-05 EQUIPMENT PURCHASE 0 2,000 1,655 (345) -2,000 ' 7,000 5,000
~
5025-05 ENGINE 2,338 ,0 2,883 0 3000 2;800 _ 2,800 -5032-05 • NTENANCE MEN 21,139 ' 39,843 .29,316 -(19527) .,"41,460 42,950 3;107 r'
5035-05 RECREATION EMPLOYEES 8,896 7,500 - 6,570 0 -7,500 8,500 1,000 1
• 5041-05 PAYROLL TAXES 1932 3,479 2,777 (702) T4;201 -4,200 721 . '4 'I
1 5050-05 WORKERS COMP - 918 1,1005 1,295 195. . 1,295 '`500 (600) • T`"38 5051-05 HEALTH INSURANCE 5877- 9,092. 7,372 (1,720) "" 9900 11,000 1,908
39 5207-05 IRRIGATION SYSTEM 613 2,000 863 (1,137) 1,200 2,000 0
40 5301-05 OPERATING SUPPLIES 848 2,000 1,441 0 2,000 3,000 1,000
41 5303-05 GAS&OIL - 335 450 451 1 451 750 300
425306-05 REPAIR&MAINT./SUPPLIES 790 3,000 2,815 (185) 3,000 3,500 500
43 5308-05 WEED CONTROL/FERTILIZER 1,668 3,000 1,389 (1,611) 3,000 3,000 0
44 5309-05 DUTCH an INSPECTION 0 - 70 0 (70) 70 0 (70)
45 5311-05 LANDSCAPING 1,122 2,000 568 (1,432) 1,500 2,000 0
46 5312-05 EVENTS 920 11,600 5,792 (5,808) 10,500 13,000 1,400
475313-05 TREE TRIMMING 1,400 2,000 650 (1,350) 1,000 5,000 3,000
^ 48 5314-05 PARK IMPROVEMENTS 33,652 23,000 2,042 (20,958) 3,000 25,000 2,000
49 5315-05 RECREATION COMMITTEE 83 500 0 0 500 500 0
50 5619-05 EQUIPMENT RENTAL 148 300 75 (225) 200 300 0
51 5620-05 PDO CHANGE-PARK 179 2,200 0 (2,200) 0 200 (2,000)
52 5625-05 PARK PLANNER 691 5,000 1,570 (4,430) 1,570 6,000 0
- 53 5900-05 RETIREMENT 798 2,188 1,139 (1,049) 1,683 1,760 (428)
64 MERIT RAISE POOL 0 2,084 0 (2,084) 0 2,250 166
55
56 TOTAL EXPENDITURES 93,405 137,288 76,633 (60,655) 108,298 157,170 19,882
57
.... 58 -
59 - -
60 -
61- HE
64
65
meadbudget2004FINALforMayorssignaturexls Page 11 of 36
AIM
NMI
Oft
STORM DRAINAGE FUND
•
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12/15/2003-11:38 AM
A B I C I D I E I F I G I H I I J
1 TOWN OF MEAD
2 STORM DRAINAGE FUND
•••• 3 I I I I 1 I
e
Year Ending 12/31/2004
6
7 Actual 1st 8 Variance Variance
Actual Budgeted Months E-D Anticipated Proposed H-D
8 Ref. 2002 _ 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11 4001-07 TRANS.FROM GENERAL FUND 24,000 _ 30,000 20,000 (10,000) 30,000 20,000 (10,000)
12 4002-07 TRANS.FROM ROAD FUND 0 0 0 0 0 0 0
13
14
15 Total Current Revenue 24,000 30,000 20 000 30,000 20,000
16 Beginning Fund Balance 83,451 7,213 8,131 (10268)
17 8,131 20,481 13,268
18 TOTAL REVENUE 107,451 37,213 28,131 38,131 40,481 3,268
19
20 TOTAL EXPENDITURES 99,320 36,000 11,844 17,650 36,000 0
21
22 Balance End of Year 8,131 1,213 16,287 20,481 4,481 3,268
23
24 EXPENDITURES:
25
,.., 26 5006-07 LEGAL 20 500 0 (500) 500 500 0
27 5025-07 ENGINEERING 16,931 3,500 2,411 (1,089) 3,500 3,500 28 5301-07 OPERATING SUPPLIES 0
29 5306-07 REPAIRS AND MAINTENANCE 3,251 - 4,000 2,9730 ( 070) 1,500 2,000 (1,000)
30 5316-07 DRAINAGE IMPROVEMENT 78,678 25,000 5 746 (1,070) 3,500 5,000 1,000
— 31 (19,254) 8,650 25,000 0
32
33' - TOTAL EXPENDITURES 99,320 36 000 - 11 844 24 456 17 650 36 000 0
... I35
6
17
38
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39
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41
42
43
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45
46
47
48
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. meadbudget2004FINALforMayor'ssignalure.xls Page 12 of 36
-
-
SPECIAL REVENUE FUNDS
-
•
12/15/2003-11:38 AM
. A B I C I D 1 E 1 F r G I H I I J
1 TOWN OF MEAD
2 SPECIAL REVENUE FUND -POLICE
4 YearEndin• 12/31/2004
5
6 Actual let Variance Valance
7 Actual Budeeted 8 Months E-D Antici•-ted Pro•osed H-D
▪ 8 2002 2003 2003 over under 2003 2004 over under
9 REVENUES:10 -11 4111-12 SYSTEM DEVELOPMENT FEES 1,105 2,500 1,750 750 2,500 2,500 0
12 4301-12 INTEREST 34 33 12 (21) 18 20 (13)
13
14 -Total Current Revenue 1,139 2533 1762 2,518 2,520 13
15 _Be Junin Fund Balance 1,991 874 1,452 1,452 3,970 3096
16 - ___--
... 17 TOTAL REVENUE 3,130 3,407 3,214 3,970 6,490 3083
18
19 9 TOTAL EXPENDITURES 1,678 1,000 0 0 5,000 4,000
20
21 _ . Balance End of Year 1 452 2,407 3,214 3,970 1,490
_ 22
23
24 -_ EXPENDITURES:
25.. 26 5020-12 EXPENDITURES 1 878 1 000 0 i 000 0 5000 4000
27 -
28 _ TOTAL EXPENDITURES 1 678 1 000 0 0 5000
29
30 - -
32 - �- -
32 .
33 . ..
34
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-
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37 i
38 -
39 _-40 41 -- �-
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60
On
.� meadbudget2004FINALforMayor'ssignature.xis Page 16 of 36
r 1
12/15/2003-11:38 AM
' A B ICIDIEIFIG I H I I
J
1 TOWN OF MEAD
2 SPECIAL REVENUE FUND -MUNICIPAL
3 I I I I I I I
•••• 4 Year Ending 12/31/2004
5
6 Actual 1st Variance
Variance
7 Actual Budgeted 8 Months E-D Anticipated Proposed -D
2002 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11 4112-13 SYSTEM DEVELOPMENT FEES 46,165 84,850 59,395 (25,455` 84,850 84,850 0 -
12 4301-13 INTEREST 1,230 1,212 863 (349 1,300 14,000 12,788
14 Total Current Revenue 47,395 86,062 60,258 86,150 98,850 12,788
15 Beginning Fund Balance 72,060 74,969 119,455 119,455 205,605 130,636
16
,.. 17 TOTAL REVENUE 119,455 161,031 179,713 205,605 304,455 143,424
18
19 TOTAL EXPENDITURES 0 73,300 0 0 298,300 225,000
20
21 Balance End of Year___119n31 179,713 250,805 6155
22
23
24 EXPENDITURES:
25
26 SPACE NEEDS.STUDY _ 0 20,000 0 0 0 20,000
27 CONSULTANT 0 3,300 0 0
28 5020-13 TOWN HALL 0 0 3,300 0
29 _ 0 50,000 0 (50,000) 0 275,000 225,000
0
30 - TOTAL EXPENDITURES-
0 -73.300 0 (73 300) 0 298 300 225 000
32
34
^ 35 : .: ,c
f
38 - - .. -- r
.. _--
_ 39
40
41
42
43
44
45
46
47
48
49
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52
53
54
55
56
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59
60
61
62
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^ meadbudget2004FINALforMayofssignature.xls Page 17 of 36
12/15/2003-11:38 AM _
A B I C I D I E I F I G I H I I J
2 SPECIAL REVENUE FUND - PARK SYSTEM
3 ---_
4 Year Endin• 12/31/2004 •
_
66
IIIIIIIIII• Actual 1st Variance -_ Variance
7 Actual Bud eted 8 Months E-D Antici•ated Pro•osed H-D.
8 2002 2003 2003 over under 2003 2004 over under
a REVENUES:
... 10
4113-14 SYSTEM DEVELOPMENT FEES 1,386 23,100 16,170 6,930 23,100 23,100 0
12 4301-14 INTEREST 306 318 154 (164) 231 250 13 _ (68)
14nt venue 1 692- l Total re Fund aBalance 18,852 19,632 19,149 19,149 23
1350 68
5 Be. nnln418' 324 980 (18,652)
6
17 19 TOTAL REVENUE 43,050 35,473 42,480 24,330 18 720
^ 19 - TOTAL EXPENDITURES 1 395 42,400 -IIIIIIIII239•IIIIIIIIII1 _-
20 41 500 23 900 188 500
21 Balance End of Year 65017,582 980 430
2.1
22
.-. 224 3 � ---_-
- EXPENDITURES; .
25
26 5020-14 PARK IMPROVEMENTS 1,395 34,000
17,891 16 109 36,500 18,500 15,500
27 PARK TREE NURSERY 0 5,000 0 0 5,000 0 5,000
.•. 28 -BRIDGE AT MEAD PONDS 0 2,500 0
.29 -TREES IN AMES PARK 0 0 0 2,500
0 0
30 5020-14 SKATE BOARD AREA 0 0 0 3,5
00 3,000
31 CONSULTANT 0 0 0 0 0 1900 1,000
0 900 0 0 0 900 0
33 TOTAL EXPENDITURES _ 1 395 42 400 ''24 34509 41 500 23 900 •
`. ® __..
5 k
39 36
'. •
40 42
1
43
4445
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meadbudget2004FINALforMayor'ssignature.xls Page 18 of 36
12/15/2003-11:38 AM
.... 1A B ICIDIE 1 F I G 1 H
1 I
TOWN OF MEAD
2 SPECIAL REVENUE FUND-DOWNTOWN REVITALIZATION •
3 1 1 1 I • 1 I' '
- 4 Year Ending 12/31/2004
5
•
6 Actual 1st Variance Variance
7 Actual Budgeted 8 Months E-D Anticipated Proposed H-D
.ft. 8 2002 . 2003 2003 over(under) 2003 2004 ,over(under)
9 REVENUES:
10
11 4114-15 SYSTEM DEVELOPMENT FEES 912 15,200 10,640 (4,560) 15,200 15,200 0
12 4301-15 INTEREST 136 143 72 (71) 108 120 (23)
13 4303-15 MISC.INCOME 282 0 0 0 0 0 0
14
15 Total Current Revenue 1,330 15,343 10,712 15,308 15,320 (23)
16 Beginning Fund Balance 7,928 8,376 9,258 9,258 24,566 16,190
17
18 TOTAL REVENUE 9,258 — 23,719 19,970 24,566 39,886. 16,167
19
20 TOTAL EXPENDITURES 0 20,600 0 0 38,600 18,000
21
— 22 Balance End of Year 9j— 3,119 19 970 24,566 1,286
23
24
25 EXPENDITURES:
.� 26
27 CONSULTANT/PLANNER 0 600 0 0 0 9,600 9,000 ,.
28 5020-15 DOWNTOWN IMPROVEMENTS 0 20,000 0 (20,000) 0 29,000 9,000
29
30 TOTAL EXPENDITURES 0_ 20,600 0 (20,601k 0 38,600
31
32 .:
33 �.• •34.. 35 , i. it16k. . .
^afi • •
7 z'ka....
•
38
- 39
.. 40
41
42 •
43
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44
45
46
47
•
•
48
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meadbudget2004FINALforMayor'ssignaturexls Page 19 of 36
12/15/2003-11:38 AM
A B ICJOI El F I GIH I J
1 TOWN OF MEAD
2 SPECIAL REVENUE FUND -CAPITAL EQUIPMENT
3 I I I I I I I
4 Year Ending 12/31/2004
5
6 Actual 1st Variance Variance
7 Actual Budgeted 8 Months E-D Anticipated Proposed H-D
8 2002 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11 4115-16 SYSTEM DEVELOPMENT FEES 9,545 15,800 11,060 (4,740) 15,800 15,800 0
12 4301-16 INTEREST 248 245 176 (69) 264 300 55 _
'm' 13 LEASE PURCHASE PROCEEDS 0 24,000 25,719 1,719 25,719 0
14
15 Total Current Revenue 9,793 40,045 36,955 41,783 16,100 (23,945)
16 Beginning Fund Balance 14,676 15,237 24,469 24,469 34,033 18,796
... 17
18 TOTAL REVENUE 24,469 55,282 61,424 66,252 50,133 (5,149)
19
20 TOTAL EXPENDITURES 0 55,100 30,039 32,219 8,458 (46,642)
21
22 Balance End of Year 24,469 182 31,385 34,033 41,675
23
24
25 EXPENDITURES:
26 2003 TRACTOR PAYMENTS 6,500 4,320 (2,180) 6,500 5,758 (742) _
27 LEASE PURCHASE PROCEEDS 24,000 25,719 1,719 25,719 0 (24,000)
28 EQUIPMENT PURCHASE 0 0 0 0 2,100 2,100
29 CONSULTANT 600 0 (600) 0 600 0
30 5020-16 EQUIPMENT PAYMENTS 24,000 0 (24,000) 0 0 (24,000)
.•• 31
• 32 TOTAL EXPENDITURES - _55,100 30,039 (25,061) 32,219 8,458 4
• _34
.35 •iii
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37 " �..
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38
39
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42
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44
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50
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63
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meadbudget2004FINALforMayorssignature.xls Page 20 of 36
MN 1
12/15/2003-11:38 AM
•� B I C I D I E l F I G I H I I J
1 TOWN OF MEAD
2 SPECIAL REVENUE FUND -STORM DRAINAGE
3 1 I I I I I I
4 Year Ending 12/31/2004
5
6 Actual 1st Variance Variance
7 Actual Budgeted 8 Months E-D Anticipated Proposed H-D
,�, 8 2002 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11 SYSTEM DEVELOPMENT FEES 8,035 6,550 4,585 (1,965) 6,550 6,550 0
12 INTEREST 200 197 139 0 209 230 33
r� 13
14 Total Current Revenue 8,235 6,747 4,724 6,759 6,780 33
15 Beginning Fund Balance 11,690 12,018 19,925 19,925 26,684 -
16 _
17 TOTAL REVENUE - 19,925 18,765 24,649 26,684 33,464
18 _
19 TOTAL EXPENDITURES 0 15,300 0 0 27,300 12,000
20
21 Balance End of Year 19,925 3,465 24,649 26,684 6,164
..... 22
23
-2-4- .. -
26 CONSULTANT 0 300 0 (300) - 0 300 0
27 STORM DRAINAGE ENGINEERING 0 7,000 0 (7000) 0 20,000 13,000
28 STORM DRAINAGE IMPROVEMENTS 0 8,000 0 (8,000) 0 - 7,000 (1,000)
29
30 TOTAL EXPENDITURES 0 15,300 0 115,300) 0 27,300
31 _.
32
38
_•
39
40
41
42
43
44
..- 45
46
47 _.
48
49
50
51
52
is
meadbudget2004FINALforMayorssignature.xls Page 21 of 36
12/1512003-11:38 AM
A B I C I D I E I F I G I H I I J
1 TOWN OF MEAD
2 SPECIAL REVENUE FUND -TRANSPORTATION '
3 I I I I f Lma I
4 Year Ending 12/31/2004 -
5
6 Actual 1st Variance Variance
7 Actual Budgeted 8 Months E-D Anticipated, Proposed H-D
�. 8 2002 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11 4117-18 SYSTEM DEVELOPMENT FEES 39,392 67,500 47,250 (20,250) 67,500 67,500 0
12 4301-18 INTEREST 1,023 1,020 656 (364) 984 1,100 80
" 13
14 Total Current Revenue 40415 68,520 47906 68,484 68,600 80
15 Beginning Fund Balance 63,815 50,185 89,975 89,975 158 459 108,274
16
, , 17 TOTAL REVENUE 104,230 118,705 137,881 158,459 227,059 108,354
18
19 TOTAL EXPENDITURES 14255 52,550 865 0 202,550 150000
20
... 21 Balance End of Year 89.975 66,155 137,016 158 459 24,509
22
23
24 EXPENDITURES:
25
-- 26 5020-18 ROAD IMPROVEMENTS 0 50,000 0 (50,000) 0 150,000 100,000
27 CONSULTANT 0 2,550 0 (2,550) 0 2,550 0
28 ENGINEERING-TRAFFIC STUDY 14,255 0 865 865 0 50,000 50,000
29
30 TOTAL EXPENDITURES 14 255 52 550 865 51 685 0 202 550
31
32 - --
33 wi +
34
38
39
40
41
42
43
�- 44 •
45
46
47
48
.... 49 .
50
51
52
�. 53
54
55
56
57
58
59
60
meadbudget2004FINALforMayorssignature.xls Page 22 of 36
12/15/2003-11:38 AM
1 , A B 1 CIDIEJFIGIH I J
TOWN OF MEAD
2 SPECIAL REVENUE FUND-OPEN SPACE
3 I I I I I I I
.- 4 Year Endin 12/31/2004
5
6 , Actual 1st Variance Variance
7 Actual bud eted 8 Months E-D Antici ated Pro H-D
8 2002 2003 2003 over under 2003 2004 over under
9 REVENUES: .
10
11 4118-19 SYSTEM DEVELOPMENT FEES 50,450 92,600 64,820 (27,780) 92,600 92,600 0
/ 12 4301-19 INTEREST 1,345 1,325 943 382 1415 1,600 275
13
14 Total Current Revenue 51,795 93,925 65 763 94,015 94,200 275
15 Beginning Fund Balance 78,717 81,894 130,512 130,512 224,527 142,633
16
17 TOTAL REVENUE 130,512 175,819 196,275 224,527 318,727 142,908
"- 18
19 TOTAL EXPENDITURES 0 174,600 0 0 308,600 134,000
20
21 Balance End of Year 130,512 1,219 196,275 224,527 10,127
22
23
24 EXPENDITURES:
25
26, CONSULTANT 0 3 600 0 (3,600) 0 3,600 0
"- 27 5020-19 COMMITTEE 0 1,000 0 (1,000) 0 5,000 4,000
28 5020-19 LAND ACQUISITION 0 170 000 0 (170,000) 0 300,000 130,000
29'
30 TOTAL.EXPENDITURES 0_ 174,600 0 J174,600) 0 308,600
31
32
33 _.ter..
ter.
34 - .`
35
37 •
38
39
awl 40
41
42
43
44
.� 45 •
46
47
48
... 49
50
51
52
53
. - 54
55
56
57
..., 58
59 -
60
61 - . _
IIIIMI
meadbudget2004FINALforMayorssignature.xis Page 23 of 36
12/1512003-11:38 AM
A B 1 0 1 0 1 E I F 1 G I H I I J
1 TOWN OF MEAD
2 ■ SPECIAL REVENUE FUND -SEWER
3 I I I I I I I
4 YearEndin• 12/31/2004
5
6 '- Actual 1st Variance Variance
7 Actual Budgeted 8 Months E-D Anticipated Proposed H-D
8 2002 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
1D _ ---
11 4119-19 SYSTEM DEVELOPMENT FEES 6,000 0 0 0 0 0 0
X4301-20 MTEREST 654 0 0 0 0 0 0
14 -Total Current Revenue 6,654 0 0 - 0 0 0
15 _ :_-.- nin! . :.I., 3690 0 0 0
18 - ---_-
17 TOTAL REVENUE 1Q344 0 0 0 0 0
18
------
19 - TOTAL EXPENDITURES 1,704 0 0 0 0 0
20
21 - Balance End of Year - 8,640 0 0 0 0
22
23._ -_-_-_--
24 EXPENDITURES:25
---
------
- -----�
26 5020-19 PLANT IMPROVEMENT 0 0 0 0 0 0
27 "rr-. 1• MASTER PLAN STUDY 0 0 0 0 0 0
28 _FINANCIAL/RATE STUDY 0 0 0 0 0 0
29 ENGINEERING-EASEMENT. 1,704 0 0 0 0 0
30 --
31 TOTAL EXPENDITURES 1704 0 0 - 0 0 0 0. ..
32 , .
33 .
34 _
35 .
36
7
38 _
39IN
-__-
442
1 _---�
43
44 _ -_�_---
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45 --- _
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54
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meadbudgel2004FINALforMayoessignature.xls Page 24 of 36
12/15/2003-11:38 AM
1 A B I C I D I E I F I G I H I I J
TOWN OF MEAD
2 SPECIAL REVENUE FUND -RECREATION
3 I I I I I
I
4 Year Ending 12/31/2004
5
7 Actual 1st Variance Variance
8 Actual Budgeted 8 Months E-D Anticipated Proposed H-D
2nm 2003 2003 over(under) 2003 2004 over(under)
9 REVENUES:
10
11 4120-21 SYSTEM DEVELOPMENT FEES 5,049 84,150 58,905 (25,245) 84,150 84,150 12 4301-21 INTEREST 0
13 148 147 143 - (4) 215 240 93
14 Total Current Revenue 5,195 84,297 59,048
15 Beginning Fund Balance 8,446 10,276 13,641 13,641 84,390 93
1613,641 98,006 87,730
17 TOTAL REVENUE 13,641 94,573 72,689
•- 18 98,006 182,396 87,823
19 TOTAL EXPENDITURES 0 26,650 p
20 0 181,650 155,000
21 Balance End of Year 13,641 67,923 72,669 _
,� 22 98,006 746.
23
24 EXPENDITURES:
25
26 ®CONSULTANT - 0 3,150 0 0
Ps 27 5020-21 RECREATION IMPROVEMENTS 0 20,000 0 3,150 00 0
0
28 BOUNDARY SURVEY 20,000 0 173,500 155000
29
0 3500 0 3 500 0 3500 0
30 - TOTAL EXPENDITURES 0 26650 0 26650
—
31 0 181 650 155 000
3233 -
®._ — _ -
_as
T
38
39 _ _
40
41
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42
43
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46
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49 _— —
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meadbudget2004FINALforMayor•ss(gnature.xls Page 25 of 36
Town of Mead, Colorado
. _
Financial Statements
12, to
'Oen ik December 31, 2002
in
r
I, Po•
! Pui
I
p
i
w
El
n
Board of Trustees a
Richard E. Kraemer—Mayor 9
Richard W. Macomber— Mayor Pro-Tem
John R.Heard
Elizabeth A.Knapp 9
Ursula J. Morgan
Michael W. Schulz
Harry C. Walker 9
Administration
Michael D. Friesen—Town Administrator 1
Candace A. Bridgwater—Town Clerk
Shirley R. Wergin—Town Treasurer
--t
i
Table of Contents
r' Page
Independent Auditors' Report 1
General-purpose Financial Statements: •
2
• Combined Balance Sheet-All Fund Types and Account Groups
• Combined Statement of Revenues,Expenditures,and Changes in Fund Balances-All Governmental Fund Types 3
• Combined Statement of Revenues,Expenditures and Changes in Fund Balances-Budget and
Actual-All Governmental Fund Types 4—5
• Statement of Revenues,Expenses and Changes in Retained Earnings-All Proprietary Fund 6
Types 7
• Statement of Cash Flows-All Proprietary Fund Types
�'-- •. Notes to Financial Statements
8- 12
Supplemental Information:
!Ip. • General Fund 13
• General Fund Schedule of Revenues-Budget and Actual
• General Fund Schedule of Expenditures-Budget and Actual 14
• Special Revenue Funds
• Combining Balance Sheet-All Special Revenue Funds 15— 18
• Combining Statement of Revenues,Expenditures,and Changes in Fund Balance-
Budget and Actual-All Special Revenue Funds 19—32
.- • Enterprise Funds
• Combining Balance Sheet 33
• Combining Statement of Revenues,Expenses and Changes in Retained Earnings 34
• Combining Statement of Cash Flows 35
.- • Budget to Actual Comparisons 36-37
• Information Required by Oversight Agencies
r • Local Highway Finance Report 38-39
es-
Johnson, Holscher & Company, 5975 Suite 140 Greenwood Plaza Boulevard
Professional Corporation Greenwood Village,Colorado 80111
""^p^^abcn Telephone (303)694-CPAS(2727)
_ CertifiedPL : Facsimile (303)694-3172
Independent Auditors' Report
Town Board
_ Town of Mead
Mead,Colorado
We have audited the accompanying general-purpose financial statements of the Town of Mead,Colorado as
of and for the year ended December 31,2002, 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 of
America. 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 Mead, Colorado as of December 31,2002, and the results of
its operations and cash flows of its proprietary fund types for the year then ended in conformity with
accounting principles generally accepted in the United States of America.
Our audit was made for the purpose of forming an opinion on the general-purpose financial statements taken
as a whole. The supplemental information listed in the table of contents is presented for proposes of
additional analysis and is not a required part of the general-purpose financial statements of the Town of
r' Mead, Colorado. Such information has been subjected to the auditing procedures applied in the
examination of the general-purpose financial statements and, in our opinion, is fairly stated in all material
respects in relation to the general-purpose financial statements taken as a whole.
Englewood,Colorado /
May 16,2003
_ Professional Corporation
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General-purpose Financial Statements
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Town of Mead, Colorado
Combined Balance Sheet-All Fund Types and Account Groups
December 31,2002
Proprietary
Governmental Fund Types Fund Type Account Groups
General Special Enterprise General Fixed General Long- Totals(Memo-
Fund Revenue Funds Assets term Debt randum Only)
Assets
Cash and cash equivalents - S 273,835 $ 707,937 $ 503,261 $ - $ - $ 1,485,033
Accounts receivable 81,716 31,427 9,772 - - 122,915
Taxes receivable 358,432 - - - - 358,432
Prepaid expenses 5,115 - 4,298 - - 9,413
Property,plant and equipment - • 305,223 657,290 - 962,513 '
Amount to be provided for
retirement of'long-teen debt - - - - 115,925 115,925
Total Assets $ L 719,098 $ 739,364 $ 822,554 $ 657,290 $ 115,925 $ 3,054,231
Liabilities and Fund Equity
Liabilities:
Accounts payable $ 25,848 $ 7,353 $ 5,158 $ - $ - $ 38,359
Deferred revenues 358,432 - - - - 358,432
Accrued liabilities 5,738 - 3,393 786 - - 9,917
Security deposits 4,636 - - - - 4,636
Capital lease obligations payable 115,925 115,925
Total Liabilities 394,654 10,746 5,944 - 115,925 527,269
Fund Equity:
Retained earnings - - - 816,610 - - 816,610
Investment in general fixed assets - - - 657,290 - 657,290
Fund Balance:
Reserved for emergency 43,300 - • - - 43,300
Unreserved 281,144 728,618 - - . - 1,009,762
Total Fund Equity 324,444 728,618 816,610 657,290 - 2,526,962
Total Liabilities and Fund Equity $ 719,098 $ 739,364 $ 822,554 $ 657,290 $ 115• ,925 $ 3,054,231
•1 •
The art--)'wing notes are an integral part of the financial statements.t , �y �i. i1.�� p�--yv _La.' ,..p F..q p y2
.u�.r J _l_.- _I_ ..1..... _j.r . � _ _L,1 _LJ _JYW _La ta ta to ; Li
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Town of Mead, Colorado
r Combined Statement of Revenues,Expenditures,and Changes in Fund Balance-All Governmental
Fund Types
For the Year Ended December 31,2002
r
Governmental Fund Types
General Special Revenue Total(Memor-
r Revenues Fund Funds andum only)
Pioptrtytax $ 323,112 $ $ 323,112
Fr. Sales and use taxes 184,762 184,739 369,501
Other taxes and assessments 95,802 100,000 195,802
Licenses and permits 55,069 1,255 56,324
Fines and forfeits 5,400 - 5,400
r Fee accounts 147,845 10,535 158,380
Intergovernmental revenue 129,981 129,981
Impact fees 162,039 162,039
r Interest income 12,182 4,812 16,994
Miscellaneous revenue \ 21,198 3,243 24,441
"
r Total Revenues 845,370 596,604 1,441,974
Expenditures
rCurrent Operating:
General government 562,022 6,933 568,955
Public safety 71,693
71,693
r�► Public works 36,795 623,648 660,443
Parks and recreation 4,160 55,681 59,841
Capital Outlay 104,607 73,444 178,051
r Debt Service:
. Principal payments 21,859
Interest payments 30,878 52,737
4,173 4,503 8,676
r Total Expenditures "' 805,309 795,087 1,600,396
Excess of Revenues Over(Under)Expenditures 40,061 (198,483) (158,422)
l r
Other Financing Sources(Uses)
Issuance of long-term debt 35,505 35,505
Sale of assets - 2,575 2,575
Operating transfers in \ - 362,004 362,004
._ Operating transfers out (350,004) (12,000) (362,004)
Total Other Financing Sources(Uses) (350,004) 388,084 38,080
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses (309,943) 189,601 (120,342)
Fund Balance,Beginning of Year 634,387 539,017 1,173,404
r. \
r Fund Balance,End of Year $ i 324,444 $ 728,618 $ 1,053,062
The accompanying notes are an integral part of the financial statements.
3
1
Town of Mead, Colorado
Combined Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-All
Governmental Fund Types
For the Year Ended December 31,2002
1
General Fund
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Property tax $ 324,069 $ 323,112 $ (957)
Sales and use tax 170,000 184,762 14,762
Other taxes and assessments 95,000 95,802 802
Licenses and pennits 119,750 55,069 (64,681)
Fines and forfeits 4,000 5,400 1,400
Fee accounts 118,000 147,845 29,845
Intergovernmental revenue - - -
Impact fees - - -
Interest income 41,000 12,182 (28,818)
Miscellaneous revenue 16,600 21,198 4,598
Total Revenues 888,419 845,370 (43,049)
Expenditures 1
Current Operating:
General government 522,500 562,022 (39,522) 1 Public safety 137,620 71,693 65,927 ('----'
Public works 27,400 36,795 (9,395)
Parks and recreation 4,500 4,160 340 ,
Contingency 47,000 - 47,000 -11
Capital Outlay 12,000 104,607 (92,607)
Debt Service:
Principal payments 22,954 21,859 1,095
Interest payments - 4,173 (4,173)
Total Expenditures 773,974 805,309 (31,335) l
Excess of Revenues Over(Under)Expenditures 114,445 40,061 (74,384) 11
Other Financing Sources(Uses) ..1
Issuance of long-term debt - - -
Sale ofassets - - - .,)
Operating transfers in - - - I
Operating transfers out (350,000) (350,004) (4)
Total Other Financing Sources(Uses) (350,000) (350,004) (4) _,
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (235,555) (309,943) $ (74,388) 71
Fund Balance,Beginning of Year 634,387
Fund Balance,End of Year $ 324,444
The accompanying notes are an integral part of the financial statements. 4 ..�
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Special Revenue Funds Totals(Memorandum Only)
Variance
Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
L-
$ - $ - $ - $ 324,069 $ 323,112 $ (957)
160,000 184,739 24,739 330,000 369,501 39,501
3,000 100,000 97,000 98,000 195,802 97,802
r 3,000 1,255 (1,745) 122,750 56,324 (66,426)
- - 4,000 5,400 1,400
8,000 10,535 2,535 126,000 158,380 32,380
r 93,000 129,981 36,981 93,000 129,981 36,981
125,520 162,039 36,519 125,520 162,039 . 36,519
8,315 4,812 (3,503) 49,315 16,994 (32,321)
7 , 4,700 3,243 (1,457) 21,300 24,441 3,141
405,535 596,604 191,069 1,293,954 1,441,974 148,020
r
r-^ 7,200 6,933 267 529,700 568,955 (39,255)
- - 137,620 71,693 65,927
643,675 623,648 20,027 671,075 660,443 10,632
82,255 55,681 26,574 86,755 59,841 26,914
r 7,500 - 7,500 54,500 - 54,500
383,392 73,444 309,948 395,392 178,051 217,341
r 34,692 30,878 3,814 57,646 52,737 4,909
- 4,503 (4,503) - 8,676
(8,676)
-...? r 1,158,714 795,087 363,627 1,932,688 1,600,396 332,292
(753,179) (198,483) 554,696 (638,734) (158,422) 480,312
37,683 35,505 (2,178) 37,683 35,505 (2,178)
- 2,575 2,575 - 2,575 2,575
362,000 362,004 4 362,000 362,004 4
(12,000) (12,000) - (362,000) (362,004) (4)
387,683 388,084 401 37,683 38,080 397
$ (365,496) 189,601 $ 555,097 $ (601,051) (120,342) $ 480,709
539,017 1,173,404
$ 728,618 $ 1,053,062
The accompanying notes are an integral part of the financial statements. 5
Town of Mead, Colorado
Combined Statement of Revenue,Expenses,and Changes in Retained Earnings
All Proprietary Fund Types
For the Year Ended December 31,2002
Operating Revenues
Operating income $ 210,733 y
Total Operating Revenues 210,733 9
Operating Expenses
Administration 22,769
System operating expenses 210,720 9
Depreciation and amortization 23,718
Total Operating Expenses 257,207
Operating Income(Loss) (46,474)
Nonoperating Revenue(Expenses)
Taxes 8,823
Total Nonoperating Revenues(Expenses) 8,823 1
Net Income(Loss)Before Tap Fees and Extraordinary Item (37,651)
Contributions-Tap Fees 93,900
Net Income Before Extraordinary Item 56,249
Extraordinary item-transfer of water fund to Little Thompson Water District (1,103,737)
Change in Retained Earnings (1,047,488)
Retained Earnings-Beginning of Year 1,864,098
Retained Earnings-End of Year $ 816,610
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The accompanying notes are an integral part of the financial statements. 6 -_i
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Town of Mead, Colorado
I^ Combined Statement of Cash Flows
All Proprietary Fund Types
For the Year Ended December 31,2002
(—
Cash Flows from Operating Activities
— Operating income(loss) $ (46,474)
Adjustments to reconcile net operating income
to net cash provided by operating activities:
r Deprecation and amortization 23,448
(Increase)decrease in accounts receivable
11,991
(Increase)decrease in prepaid expenses 5,232
Increase(decrease)in accounts payable (20,661)
Increase(decrease)in accrued liabilities (2,034)
Net Cash Provided by Operating Activities (28,498)
ir
Cash Flows From Capital and Related Financing Activities
Tap fees 93,900
I,r Payment for capital acquisitions (234,906)
Principal paid on long-term debt (3804)
Net Cash Used For Capital and Related Financing Activities
(144,810)
Cash Flows From Investing Activities
r-. Interest on investments 8,823
Net Cash Provided By Investing Activities 8,823
Net Increase(Decrease)In Cash (164,485)
Cash,Beginning of Year 667,746
Cash,End of Year $ 503,261
•
The accompanying notes are an integral part of the fmancial statements. 7
r
Town of Mead, Colorado
Ir
Notes To Financial Statements
r, December 31,2002
revenue used to finance the fundamental operations of the
,r-
charged 1. Summary of Significant Town are included in this fund. The General Fund is
Accounting Policies charged with all costs of operating the government for
The accounting methods and procedures adopted by the which a separate fund has not been established.
!r Town of Mead, Colorado conform to generally accepted
accounting principles as applied to governmental entities. Special Revenue Funds
The following notes to the financial statements are an -
These funds are established to account for the proceeds of
integral part of the Town's General-purpose Financial
rStatements. specific revenue sources (other than expendable trusts, or
for major capital projects) that are legally restricted to
Reporting Entity expenditures for specified purposes.
rThe Town's major operations include water distribution
(until September 30 2002), public safety, public works, PROPRIETARY FUND TYPES
recreation and parks,and general administrative services. These funds account for operations that are organized to be
rFor financial r ortin oses the Town includes all of self-supporting through user charges. The funds included
g pmP in this category are the enterprise funds.
the funds and account groups relevant to the operations of
the Town of Mead. The financial statements presented
rherein do not include agencies which have been formed Enterprise Funds
under applicable state laws or separate and distinct units of Enterprise funds are established to account for operations
government apart from the Town of Mead for which the that are financed and operated in a manner similar to
Town and its elected officials are not financially private business enterprises, where the intent is that costs
responsible. of providing goods or services to.the general public on a
continuing basis be financed or recovered primarily
Basis of Presentation -Fund Accounting through user charges. In late 1999 the Board of Trustees
established a new fund for the collection of sewer tap fees.
The accounts of the Town of Mead are organized on the Under the ordinance the use of the sewer tap fees is
basis of funds and account groups, each of which is restricted. These fees have been included with the Sewer
considered a separate accounting entity. The Town has Fund.
created several types of funds and a number of discrete
funds within each fund type. Each fund is accounted for by ACCOUNT GROUPS
a separate set of self-balancing accounts that comprise its
^ assets, liabilities, fund . balance, revenues, and
expenditures/expenses. The individual funds account for General Fixed Assets Account Group
the governmental resources allocated to them for the This is not a fund, but rather an account group that is used
purpose of carrying on specific activities in accordance to account for general fixed assets acquired principally for
with laws,regulations,or other restrictions. general purposes and excludes fixed assets in the
proprietary funds.
^ The funds are grouped into two fund types and two account
groups as described below. General Long-term Debt Account Group
Long-term liabilities expected to be financed from
GOVERNMENTAL FUND TYPES governmental funds are accounted for in the General Long-
These are the funds through which most governmental term Debt Account Group,not in the governmental funds.
functions typically are financed. The funds included in this
category are as follows: Basis of Accounting
^
General Fund Governmental funds utilize the modified accrual basis of
,.� accounting. Under this method,revenues are recognized in
This fund is established to account for resources devoted to the accounting period in which they become both available
financing the general services that the Town performs for and measurable. Licenses and permits, charges for
its citizens. General tax revenues and other sources of services, fines and forfeits, and miscellaneous revenues are
S
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Town of Mead, Colorado
Notes To Financial Statements
December 31,2002
recorded as revenues when received in cash. General For purposes of the statement of cash flows, the Town
property taxes,self-assessed taxes,and investment earnings considers all highly liquid investments with an original
are recorded when earned (when they are measurable and maturity of three months or less to be cash equivalents.
available). Expenditures are recognized in the accounting
period in which the fund liability is incurred,if measurable,
except expenditures for debt service,prepaid expenses,and Receivables
other long-term obligations which are recognized when All receivables are reported at their gross value and,where
paid. appropriate, are reduced by the estimated portion that is
All proprietary funds are accounted for using the accrual
expected to be uncollectable.
basis of accounting. Their revenues are recognized when
they are earned, and their expenses are recognized when Interest Receivable
they are incurred. The Town has elected to follow Interest on investments is recorded as revenue in the year
accounting principles established by the Governmental the interest is earned and is available to pay liabilities of
Accounting Standards Board. the current period.
Budgetary Data Property,Plant And Equipment I
All funds of the Town have a separate adopted budget Fixed assets used in governmental fund type operations are
The following procedures are utilized by the Town in accounted for in the General Fixed Assets Account Group.
adopting and revising the budget: Public domain (infrastructure) general fixed assets
consisting of certain improvements other than buildings,
1. The Town Administrator submits a preliminary budget such as roads, sidewalks, and bridges are not capitalized.
for the upcoming calendar year to the Town Board in Property,plant, and equipment acquired or constructed fob ^�
October. Budget workshops are held in October and general governmental operations are recorded as
November. expenditures in the fund making the expenditure and
2. A public hearing is held in November or December to capitalized at cost in the General Fixed Assets Account _I
obtain the taxpayers'comments. Group.
3. The budget is legally enacted through the passage of a
resolution. Property, plant and equipment for proprietary funds is ^l
4. Any revisions to the adopted budget must be submitted capitalized in the respective funds to which it applies. f
to the Board and adopted by a resolution.
5. Appropriations lapse at the end of each year. Property, plant, and equipment is stated at cost. Where
6. The Town does not recognize encumbrances. cost could not be determined from the available records,
estimated historical cost was used to record the estimated
The budgets are prepared on the modified accrual basis of value of the assets. Assets acquired by gift or bequest are
accounting. recorded at their fair market value at the date of transfer.
Cash Depreciation of exhaustible fixed assets used by
proprietary funds is charged as an expense against
The Town pools cash resources of its various funds in operations, and accumulated depreciation is reported on
order to facilitate the management of cash. Cash the proprietary fund's balance sheet. Depreciation has been
applicable to a particular fund is readily identifiable. The provided over the estimated useful lives using the straight-
balance in the pooled cash accounts is available to meet ^
current operating requirements. Cash in excess of current line method of depreciation. These lives are from 10 to 40 J
years for the Water Fund and 5 to 30 years for the Sewer
requirements is invested in various interest-bearing
Fund.
securities and disclosed as part of the Town's investments. ^
The Town enters into leases for equipment which qualify
Restricted cash amounts have been established to provide for treatment as operating leases. However,where it is the
the required reserves for payment of debt. intention of the Town to acquire ownership of the^`
equipment through such arrangements, the Town has --
capitalized these leases. JJJ
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Town of Mead, Colorado
it
Notes To Financial Statements
r„ December 31,2002
Long-term Debt Depository Amount
Long-term obligations of the Town are reported in the Petty cash $ 108
r General Long-term Debt Account Group. Long-term Cash in banks 308,915
liabilities for certain bonds are reported in the appropriate Cash with Colorado Diversified Trust 1,176,011
enterprise fund. Total cash and equivalents $ 1,485 033
r
Fund Equity
The unreserved fund balances for governmental funds Deposits of the Town at each bank where the funds are
r represent the amount available for budgeting future maintained are insured up to $100,000, either by the
operations. The reserved fund balances for governmental
funds represent the amount that has been legally identified Federal Deposit Insurance Corporation (FDIC) or by the
r for specific purposes. Unreserved retained earnings for Federal Savings and Loan Insurance Corporation(FSLIC).
proprietary fiords represent the net assets available for Colorado's Public Deposit Protection Act of 1975 enables
future operations or distribution. any eligible public depository to elect to secure public
deposits by pledging eligible collateral having a market
r Property Taxes value at all times equal to at least one hundred two percent
(102%)of the aggregate of said deposits not insured.
The County is responsible for assessing, collecting, and
! r distributing property taxes in accordance with enabling Deposits:are plated into three categories depending on the
state legislation. Property taxes attach as an enforceable credit risk. The categories are as follows:
lien on the first day of the levy year and may be paid in two
equal installments before the last day of February and June 1. Insured or collateralized with securities held by the
"—I^ 15,.or in full before the last day of April. entity or by its agent in the entity's name
2. Collateralized with securities held by the pledging
Property tax revenues are recognized when they become financial institution's trust department or agent in the
available. Available includes those property tax entity's name
receivables expected to be collected within sixty days after 3. Uncollateralized, including any bank balance that is
year end. Delinquent taxes are considered fully collectable collateralized with securities held by the pledging
and, therefore, no allowance for uncollectable taxes is financial institution, or by its trust department or agent
provided. but not in the entity's name.
Total Columns At December 31, 2002, $170,897 of the Town's cash on
The Combined Financial Statements include a total column deposit in banks was federally insured. The remainder,
that is described as "memorandum only." These columns $138,018 was collateralized under Colorado's Public
are used to facilitate comparisons from one year to another. Deposit Protection Act.
" Data in these columns do not present financial position,
results of operations, or cash flows in conformity with As shown above, the Town has investments in Colorado
Diversified Trust. This institution has been established for
generally accepted accounting principles, nor is such
pi- presentation equivalent to a consolidation. Interfimd local government entities in Colorado to pool surplus funds
for investment purposes as authorized by state statute.
transactions have not been eliminated from the total
column of each financial statement. They operate similar to a money market fund, and each
share is equal in value to$1.00.
2. Deposits With Financial 3. Property Tax Accrual
Institutions
Property taxes which have been levied for 2002 and will
A summary of cash and cash equivalents is as follows: not be collected until 2003 have been accrued as a
receivable at December 31, 2002. An offsetting liability
for deferred property tax revenue has been recorded in
each of the affected funds.
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Town of Mead, Colorado
Notes To Financial Statements
December 31,2002
4. Contingencies torts committed by the Town or its employees. The Town
has purchased commercial insurance to insure itself against
TABOR II
Colorado voters passed an amendment to the State
these potential losses.
Constitution, Article X, Section 20 (also known as Impact Fees
Amendment 1 or TABOR Amendment),which has several The Town collects impact fees for development. Under the il
limitations, including revenue raising, spending abilities, impact fee ordinance,if the fees are not encumbered within
and other specific requirements of state and local 6 years of collection, the fees are to be returned to the
governments. The Amendment is complex and subject to owner of the property. At year end the unencumbered fees
judicial interpretation. The Town believes it is in the Town had collected is$473,106. I
compliance with the requirements of the amendment.
However,the Town has made certain interpretations of the
amendment's language in order to determine its a
compliance. 5. Long-term Debt
Debt outstanding as of December 31,2002 consisted of the
Risk Management following:
The Town is exposed to various risks of loss related to
injuries of employees while on the job, property loss and Ll
Description Balance
Lease payable on Community Center at an original amount of$180,000. Interest at 7.448%per annum. Principal $ 41,922
and interest payments totaling$11,477 due each June I and December 1 through 2004.
Lease payable on equipment with an original cost of$53,838. Principal and interest at 5.25%.due through 2006. $ 41,66 '1^I
Leases payable on equipment with an original cost of$35,505. Principal and interest at 5.0%.due through 2007. $ 32,338 .,J7
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Summary of Changes In Long-term Debt
Beginning Ending _
Description Balance Additions Payments Balance f
Leases
Equipment leases $ 70,486 $ 35,505 $ 31,988 $ 74,003
Community Center Lease 60.697 - 18.775 41,922
Total Leases S 131.181 $ 35 505 $ 50 763 S 115 925
Summar of Debt ServiceRequirements
Year Leases Interest Total j
2003 $ 37,107 $ 6,229 $ 43,336
2004 39,498 3,808 43,306 i
2005 18,724 1,659 20,383 ^i
2006 16,629 675 17,304
2007 3,967 74 4,041
Totals $ 115.925, S 12.445 ,$ 128 370
a
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Town of Mead, Colorado
Jr
Notes To Financial Statements
December 31,2002
6. General Fixed Asset Account Group
r Activity for general fixed assets which are capitalized by the Town is summarized as follows:
Beginning Ending
Description Balance Additions Deletions Balance
Buildings $ 243,199 $ - $ - $ 243,199
Improvements 40,811 - 7,287 33,524
r Land Improvements 17,282 - 17,282
Equipment 231,458 - 231,458
Vehicles 89.578 42.249 - 131.827
Totals $ 622,328 $ 42,249 $ 7,287 $ 657,290
P
7. Extraordinary Item — Transfer.of Water System
— On September 30,2002 the Town transferred the Water System to the Little Thompson Water District.
Subsequent to December 31,2002 the town refunded the remaining cash in the Water Fund to property
owners.The total amount refunded was$397,834
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Supplemental Information
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Town of Mead, Colorado
Schedule of Revenues-Budget and Actual 3
General Fund
For the Year Ended December 31,2002 I----,
-4
Variance
Favorable
Budget Actual (Unfavorable) a
Taxes
Property tax $ 324,069 $ 323,112 $ (957)
Specific ownership tax 38,000 39,003 1,003
Sales and use taxes 170,000 184,762 14,762
Franchise taxes 53,000 50,870 (2,130)
Other 4,000 5,929 1,929
Total Taxes 589,069 603,676 14,607
Licenses and Permits
Business sales tax license 5,400 2,151 (3,249) U
Building permits 113,800 52,027 (61,773)
Other 550 891 341
Total Licenses And Permits 119,750 55,069 (64,681) 3
Court Fines and Costs 4,000 5,400 1,400 a
Fee Accounts
Developer bill backs 114,000 142,845 28,845 1
Applicaton fees - 1,950 1,950 (-a%
Land use&engineering fees 4,000 3,050 (950)
Total Fee Accounts 118,000 147,845 29,845
Other
Interest income 41,000 12,182 (28,818)
Miscellaneous 16,600 21,198 4,598 1-1
Intergovernmental revenue - - -
Total Other Revenue 57,600 33,380 (24,220)
Operating transfers in - - -
Total Revenue $ 888,419 $ 845,370 $ (43,049) '
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See Independent Auditors'Report 13 .i
I—
Town of Mead, Colorado
e—' Schedule of Expenditures-Budget and Actual
L- General Fund
For the Year Ended December 31,2002
— Variance
Favorable
Budget Actual (Unfavorable)
General Government
Mayor and board fees $ 48,000 $ 11,650 $ 36,350
Salaries and wages 136,600 125,141 11,459
Payroll taxes and employee benefits 56,650 47,053 9,597
— Ordinance codification 5,000 - 5,000
Audit and accounting 16,200 17,872 (1,672)
Insurance and bonds 7,000 6,225 775
Professional fees 176,000 276,595 (100,595)
Telephone and utilities 10,000 10,137 (137)
Elections 4,000 1,214 2,786
•- Supplies 17,700 17,440 260
Schools and conferences 8,000 8,750 (750)
Other 37,350 39,945 (2,595)
Total General Government 522,500 562,022 (39,522)
Public Safety
j Law enforcement 28,200 26,580 1,620
Judicial 21,420 17,989 3,431
Building Inspections 88,000 27,124 60,876
Total Public Safety 137,620 71,693 65,927
i In
Other
Public works 27,400 36,795 (9,395)
— Parks and recreation 4,500 4,160
340
Contingencies 47,000 47,000
Total Other 78,900 40,955 37,945
Capital Outlay 12,000 104,607 (92,607)
— Debt Service
r Principal payments 22,954 21,859 1,095
Interest payment - 4,173 (4,173)
— Total Debt Service 22,954 26,032 (3,078)
Transfers to other fluids 350,000 350,004 (4)
Total Expenditures $ 1,123,974 $ 1,155,313 $ (31,339)
iH —
— See Independent Auditors'Report 14
:4
Town of Mead, Colorado
Combining Balance Sheet
All Special Revenue Funds
December 31,2002
3
Road and Conservation
Bridge Trust Park
Assets
Cash and cash equivalents $ 226,651 $ 10,428 $ 34,257
Accounts receivable 31,427
Due from other governments
Due from other funds
Other assets _
Total Assets $ 258,078 $ 10,428 $ 34,257
3
Liabilities and Fund Balance
Liabilities
Accounts payable $ 4,056 $ - $ 2,667 El
Due to other funds _ _Accrued liabilities 2,227 - 1,166
Total Liabilities 6,283 - 3,833
Fund Balance 251,795 10,428 30,424
I —
Total Liabilities and Fund Balance $ 258,078 $ 10,428 $ 34,257
a
1
ti
1
1
1
1
•
See Independent Auditors'Report 15 1
Town of Mead, Colorado
'6. Combining Balance Sheet
All Special Revenue Funds
December 31,2002
." Police Municipal Park
Drainage Protection Facility System
Assets
.., Cash and cash equivalents $ 8,132 $ 1,452 $ 119,456 $ 19,779
Accounts receivable - -
Due from other governments - -
- - -
Due from other funds -fa
Other assets - -
- -
-
Total Assets $ 8,132 $ 1,452 $ 119,456 $ 19,779
^
Liabilities and Fund Balance
Liabilities
Accounts payable $ - $ - $
Due to other funds - 630
Accrued liabilities - - -
- -
Total Liabilities - - - 630
I ^ Fund Balance 8,132 1,452 119,456 19,149
Total Liabilities and Fund Balance $ 8,132 $ 1,452 $ 119,456 $ 19,779
r
ina
I —
.— See Independent Auditors'Report 16
1
Town of Mead, Colorado
Combining Balance Sheet a
All Special Revenue Funds
December 31,2002 1
j
Downtown Capital Storm j
Revitalization Equipment Drainage Transportation
Assets
Cash and cash equivalents $ 9,258 $ 24,469 $ 19,925 $ 89,976
Accounts receivable - - - -
Due from other governments - - - -
Due from other funds - - - - 1
Other assets - - -
Total Assets $ 9,258 $ 24,469 $ 19,925 $ 89,976
Liabilities and Fund Balance
Liabilities
Accounts payable $ - $ - $ - $ ai
-
Due to other funds - - - -
Accrued liabilities - - - -
Total Liabilities - - - -
Fund Balance 9,258 24,469 19,925 89,976 , d
Total Liabilities and Fund Balance $ 9,258 $ 24,469 $ 19,925 $ 89,976
t
11
—1
i
i
i
See Independent Auditors'Report 17
i
Town of Mead, Colorado
Combining Balance Sheet
All Special Revenue Funds
December 31,2002
.- Open Recreation
Space Center Total
Assets
�. Cash and cash equivalents $ 130,512 $ 13,642 $ 707,937
Accounts receivable - - 31,427
Due from other governments - _ -
Due from other funds
Other assets - -
Total Assets $ 130,512 $ 13,642 $ 739,364
Liabilities and Fund Balance
Liabilities
'^ Accounts payable $ - $ - $ 7,353
Due to other funds
Accrued liabilities - 3,393
•
Total Liabilities - - 10,746
Fund Balance 130,512 13,642 728,618
Total Liabilities and Fund Balance $ 130,512 $ 13,642 $ 739,364
I -
See Independent Auditors'Report 18
a
Town of Mead, Colorado
Statement of Revenues,Expenditures, and Changes in Fund Balance-Budget and Actual- 3
All Special Revenue Funds
For the Year Ended December 31,2002
1
Variance
Favorable 1
Budget Actual (Unfavorable)
Revenues
Sales tax $ 120,000 $ 167,276 $ 47,276 3
Use tax 40,000 17,463 (22,537)
Other taxes and assessments - 100,000 100.E
Licenses and permits 3,000 1,255 (1,745)
Motor vehicle registration fees 8,000 10,535 2,535
Interest 8,315 4,812 (3,503)
Intergovernmental 93,000 129,981 36,981
Impact fees 125,520 162,039 36,519
Miscellaneous revenue 4,700 3,243 (1,457)
Total Revenues 402,535 596,604 194,069
4
Expenditures
Current Operating:
General government 7,200 6,933 267
Public works 643,675 623,648 20,027
Parks and recreation 82,255 55,681 26,574
Contingencies 7,500 - 7,500
Capital Outlay 383,392 73,444 309,948
Debt Service:
Principal payments - 34,692 30,878 3,814
Interest payments - 4,503 (4,503)
Total Expenditures 1,158,714 795,087 363,627
Excess of Revenues Over (Under)Expenditures (756,179) (198,483) 557,696
1
Other Financing Sources(Uses)
Issuance of long-term debt 37,683 35,505 (2,178) 1
Sale of assets - 2,575 2,575
Operating transfers in 362,000 362,004 4
Operating transfers out (12,000) (12,000) - 4
Total Other Financing Sources(Uses) 387,683 388,084 401
Excess of Revenues and Other Sources Over —.I
(Under)(Under)Expenditures and Other Uses $ (368,496) 189,601 $ 558,097
Fund Balance,Beginning of Year 539,017 -I
i
Fund Balance,End of Year $ 728,618
a
1
r ^
See Independent Auditors'Report 19 -1
Town of Mead, Colorado
Ire Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Road and Bridge Fund
For the Year Ended December 31,2002
Variance
Favorable
r Budget Actual (Unfavorable)
Revenues
Sales tax $120,000 $167,276 $47,276
Use tax 40,000 17,463 (22,537)
r Other taxes and assessments - 100,000 100,000
Licenses and permits 3,000 1,255 (1,745)
Motor vehicle registration fees 8,000 10,535 2,535
r Interest - - -
Intergovernmental 81,000 109,960 28,960
Miscellaneous revenue 1,200 1,461 261
Total Revenues 253,200 407,950 154,750
Expenditures
Current Operating:
r General government 3,675 3,475 200
Public works 524,675 510,075 14,600
Parks and recreation - - -
Capital Outlay 46,683 36,105 10,578
rDebt Service:
Principal payments 34,692 30,878 3,814
Interest payments - 4,503 (4,503)
r Total Expenditures 609,725 585,036 24,689
Excess of Revenues Over (Under)Expenditures (356,525) (177,086) 179,439
r Other Financing Sources(Uses)
Issuance of long-term debt 37,683 35,505 (2,178) .
Sale of assets - 2,575 2,575
r• Operating transfers in 240,000 240,000 -
Operating transfers out -
Total Other Financing Sources(Uses) 277,683 278,080 397
P.. Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (78,842) 100,994 $ 179,836
Fund Balance,Beginning of Year 150,801
Fund Balance,End of Year $ 251,795
See Independent Auditors'Report 20
1
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Conservation Trust Fund
For the Year Ended December 31,2002 l '�
Variance
Favorable
Budget Actual (Unfavorable)
Revenues -
Sales tax $ - $ - $ - g
Use tax - - - j
Licenses and permits - - -
Motor vehicle registration fees - - -
Road and Bridge Tax - - -
Interest 400 142 (258)
•
Intergovernmental 12,000 20,021 8,021
Miscellaneous revenue - - -
Total Revenues 12,400 20,163 7,763
Expenditures
Current Operating:
General government - - -
Public works - - -
Parks and recreation - - -
Capital Outlay - - -
Debt Service:
Principal payments - - -
Interest payments - -
Total Expenditures - - -
Excess of Revenues Over (Under)Expenditures 12,400 20,163 7,763
Other Financing Sources(Uses) 1
Issuance of long-term debt - - -
Operating transfers in - - -
Operating transfers out (12,000) (12,000) - -.1
Total Other Financing Sources(Uses) (12,000) (12,000) -
Excess of Revenues and Other Sources Over .-,
(Under)Expenditures and Other Uses $ 400 8,163 $ 7,763
Fund Balance,Beginning of Year 2,265 —1
Fund Balance,End of Year $ 10,428
—.I
1
_[
1
See Independent Auditors'Report 21 -.;
i
Town of Mead, Colorado
"' Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Park Fund
For the Year Ended December 31,2002
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
,— Sales tax $ - $ - $ -
Use tax - - -
Licenses and permits - - -
Motor vehicle registration fees - - .
-
Road and Bridge Tax - - -
Interest - - -
Intergovernmental - - -
''• Miscellaneous revenue - - 1,500 1,500
Total Revenues - 1,500 1,500
Expenditures
Current Operating:
General government 3,525 3,458 67
I Public works - - -
Parks and recreation - 82,255 55,681 26,574
Capital Outlay 47,109 34,266 12,843
r ,\ Debt Service:
Principal payments - - -
Interest payments - -
Total Expenditures 132,889 93,405 39,484
Excess of Revenues Over (Under)Expenditures (132,889) (91,905) 40,984
's Other Financing Sources(Uses)
Issuance of long-term debt - - -
Operating transfers in 98,000 98,004 4
r Operating transfers out - - -
Total Other Financing Sources(Uses) 98,000 98,004 4
.- Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (34,889) 6,099 $ 40,988
,. Fund Balance,Beginning of Year 24,325
Fund Balance,End of Year $ 30,424
ti-
•- See Independent Auditors'Report 22
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual- 3
Drainage Fund
For the Year Ended December 31,2002
Variance
Favorable 3
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
Use tax - - -
Licenses and permits - - -
Motor vehicle registration fees - - - -
Road and Bridge Tax - - -
Interest - - -
Intergovernmental - - -
Miscellaneous revenue 3,500 - (3,500) '11
Total Revenues 3,500 - (3,500) s�
Expenditures 1
Current Operating:
General government - - -
Public works 119,000 99,319 19,681
Parks and recreation - - -
Contingencies 7,500 - 7,500
Capital Outlay 9
Debt Service:
Principal payments - - -
Interest payments - - -
Total Expenditures 126,500 99,319 27,181 1.1
Excess of Revenues Over (Under)Expenditures (123,000) (99,319) 23,681 j
Other Financing Sources(Uses)
Issuance of long-term debt - - -
Operating transfers in 24,000 24,000 -
Operating transfers out - - -
Total Other Financing Sources(Uses) 24,000 24,000 -
Excess of Revenues and Other Sources Over I
(Under)Expenditures and Other Uses $ (99,000) (75,319) $ 23,681
Fund Balance,Beginning of Year 83,451
Fund Balance,End of Year $ 8,132
i
See Independent Auditors'Report 23
i
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Police Protection Fund
For the Year Ended December 31,2002
1_
Variance
_
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ -$
Use tax _ $
Licenses and permits
Motor vehicle registration fees
Road and Bridge Tax
Interest 60 34 (26)
Intergovernmental
Impact Fees
800 1,105 305
Miscellaneous revenue
- -
Total Revenues 860 1,139 279
Expenditures
Current Operating:
�- General government
Public works
Parks and recreation
Capital Outlay 2,500 1,678 822
Debt Service:
Principal payments _
Interest payments _
Total Expenditures 2,500 1,678 822
Excess of Revenues Over (Under)Expenditures (1,640) (539) 1,101
Pis
Other Financing Sources(Uses)
Issuance of long-term debt -
Operating transfers in _
Operating transfers out
Total Other Financing Sources(Uses) _
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (1,640) (539) $ 1,101
Fund Balance,Beginning of Year 1,991
Fund Balance,End of Year $ 1,452
P
.� See Independent Auditors'Report 24
n
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual- I
Municipal Facility Fund
For the Year Ended December 31,2002 i^.
71
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
Use tax - - -
Licenses and permits - - -
Motor vehicle registration fees - - - _
Road and Bridge Tax - - -
I
Interest 1,800 1,231 (569) i
Intergovernmental - - - r
Impact Fees 27,152 46,165 19,013ii
Miscellaneous revenue - - -
Total Revenues 28,952 47,396 18,444
Expenditures 7
Current Operating:
General government - -
1
Public works - - -
Parks and recreation - - -
Capital Outlay 80,000 - 80,000- t
Debt Service: (^ I
Principal payments - - -
Interest payments - - -
Total Expenditures 80,000 - 80,000 I
Excess of Revenues Over (Under)Expenditures (51,048) 47,396 98,444
Other Financing Sources(Uses) i
Issuance of long-term debt - -
Operating transfers in - - -
Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ 51,048) 47,396 $ 98,444
Fund Balance,Beginning of Year 72,060 "ro
Fund Balance,End of Year $ 119,456
-1
I
See Independent Auditors'Report 25
Town of Mead, Colorado
►- Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Park System Fund
For the Year Ended December 31,2002
to—
Variance
I — Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
Use tax - - -
Licenses and permits - - -
r Motor vehicle registration fees _ - -
1 Road and Bridge Tax - - -
Interest 1,200 306 (894)
Intergovernmental - - -
r Impact Fees 7,392 1,386 (6,006)
Miscellaneous revenue -
Total Revenues 8,592 1,692 (6,900)
Expenditures
Current Operating:
r., General government _ _ -
Public works - - -
Parks and recreation - - -
Capital Outlay 14,000 1,395 12,605
Debt Service:
Principal payments - - -
Interest payments - - -
Total Expenditures 14,000 1,395 12,605
Excess of Revenues Over (Under)Expenditures (5,408) 297 5,705
ii—
Other Financing Sources(Uses)
Issuance of long-term debt - - -
.- Operating transfers in - _ -
Operating transfers out - -
Total Other Financing Sources(Uses) - _ -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (5,408) 297 $ 5,705
•-
Fund Balance,Beginning of Year 18,852
Fund Balance,End of Year $ 19,149
n
See Independent Auditors'Report 26
g
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Downtown Revitalization Fund
For the Year Ended December 31,2002
i
Variance
Favorable q
Budget Actual (Unfavorable)
Revenues
Sales tax $ $ - $ -
Use tax - - -
Licenses and permits -
Motor vehicle registration fees - - f,
Road and Bridge Tax - -
Interest 260 136 (124)
Intergovernmental
Impact Fees 4,864 912 (3,952)
Miscellaneous revenue - 282 282
Total Revenues 5,124 1,330 (3,794)
Expenditures H
Current Operating:
General government - - - —1
Public works - - - J
Parks and recreation - -
Capital Outlay 13,000 - 13,000 ^)
Debt Service: 1 i
Principal payments - - -
Interest payments - - HTotal Expenditures 13,000 - 13,000
Excess of Revenues Over (Under)Expenditures (7,876) 1,330 9,206
Other Financing Sources(Uses)
Issuance of long-term debt - -
Operating transfers in - - —
Operating transfers out - - - '
Total Other Financing Sources(Uses) - -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (7,876) 1,330 $ 9,206 Fund Balance,Beginning of Year 7,928 —l
l
Fund Balance,End of Year $ 9,258 i
^1
-.1
I
See Independent Auditors'Report 27
4
Town of Mead, Colorado
r Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Capital Equipment Fund g
For the Year Ended December 31,2002
I
Variance
1r Favorable
Budget Actual (Unfavorable)
Revenues
rSales tax $ - $ - $
Use tax -
Licenses and permits - - -
Motor vehicle registration fees _ _ -
Road and Bridge Tax - _ -
Interest 380 248 (132)
Intergovernmental
r Impact Fees 5,056 9,545 4,489
Miscellaneous revenue - - -
Total Revenues
5,436 9,793 4,357
Ir
Expenditures
Current Operating:
1 r General government _ - -
Public works - - -
Parks and recreation - - -
r, Capital Outlay 17,600 - 17,600
Debt Service:
Principal payments - - -
r' Interest payments
Total Expenditures 17,600 - 17,600
Excess of Revenues Over (Under)Expenditures (12,164) 9,793 21,957
Other Financing Sources(Uses)
Issuance of long-term debt - - -
1 r* Operating transfers in - - -
Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (12,164) 9,793 $ 21,957
Fund Balance,Beginning of Year 14,676
.- Fund Balance,End of Year $ 24,469
9
See Independent Auditors'Report 28
r
•
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
11
Storm Drainage Fund
For the Year Ended December 31,2002
Variance
Favorable I
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
Use tax - - -
il
Licenses and permits - - -
Motor vehicle registration fees - - -
Road and Bridge Tax - - -
Interest 305 200 (105)
Intergovernmental - - -
Impact Fees 2,096 8,035 5,939
Miscellaneous revenue - - -
Total Revenues 2,401 8,235 5,834
Expenditures
Current Operating:
General government - - -
Public works - -
Parks and recreation - - -
Capital Outlay 13,000 - 13,000
Debt Service:
Principal payments - - -
Interest payments - -
Total Expenditures 13,000 - .13,000
Excess of Revenues Over (Under)Expenditures (10,599) 8,235 18,834
Other Financing Sources(Uses)
Issuance of long-term debt - - -
Operating transfers in - -
Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over ?
(Under)Expenditures and Other Uses $ (10,599) 8,235 $ 18,834
— 1
Fund Balance,Beginning of Year 11,690
Fund Balance,End of Year $ 19,925
—i
H
See Independent Auditors'Report 29 "'I
a
r
Town of Mead, Colorado
r Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Transportation Fund
For the Year Ended December 31,2002
.-
Variance
I... Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
r
I Use tax - - -
Licenses and permits - -
Motor vehicle registration fees - - -
' Road and Bridge Tax - - _
Interest 1,650 1,023 (627)
Intergovernmental - - _
It-r Impact Fees 21,600 39,392 17,792
Miscellaneous revenue - - -
Total Revenues 23,250 40,415 17,165
'r
Expenditures
Current Operating:
Is General government - - _
Public works - 14,254 (14,254) •
Parks and recreation - - -
r Capital Outlay 25,000 - 25,000
Debt Service:
Principal payments - - -
Interest payments - - _
r Total Expenditures 25,000 14,254 10,746
Excess of Revenues Over (Under)Expenditures (1,750) 26,161 27,911
r
Other Financing Sources(Uses)
Issuance of long-term debt - - -
r Operating transfers in - - -
Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (1,750) 26,161 $ 27,911
Fund Balance,Beginning of Year 63,815
Fund Balance,End of Year $ 89,976
See Independent Auditors'Report 30
LI
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual- al
Open Space Fund
For the Year Ended December 31,2002 +^ H
�1
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ $ —11Use tax - - -
Licenses and permits - - -
Motor vehicle registration fees - - -
Road and Bridge Tax - - - —`1
Interest 2,000 1,345 (655)
Intergovernmental - - -
Impact Fees 29,632 50,450 20,818 -,1
Miscellaneous revenue - -
Total Revenues 31,632 51,795 20,163 j
Expenditures ^+
Current Operating: 1
General government - - -
Public works - - - 1
Parks and recreation - - -
Capital Outlay 101,000 - 101,000 Cl
Debt Service: !
Principal payments - - -
Interest payments - - -
AI
Total Expenditures 101,000 - 101,000
Excess of Revenues Over (Under)Expenditures (69,368) 51,795 121,163
A
Other Financing Sources(Uses) ){
Issuance of long-term debt - - -
Operating transfers in - _,1
Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over _1
(Under)Expenditures and Other Uses $ (69,368) 51,795 $ 121,163
,
Fund Balance,Beginning of Year 78,717
Fund Balance,End of Year $ 130,512
{ —1
I
_I
_j
See Independent Auditors'Report 31 i
r
Town of Mead, Colorado
.- Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Recreation Center Fund
-'I For the Year Ended December 31,2002
r
Variance
!I Favorable
Ir
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
7 Use tax - - -
Licenses and permits - - -
Motor vehicle registration fees _ _ -
r" Road and Bridge Tax - - -
Interest 260 147 (113)
Intergovernmental -
r Impact Fees 26,928 5,049 (21,879)
f Miscellaneous revenue - - -
Total Revenues 27,188 5,196 (21,992)
E
Expenditures
Current Operating:
General government - - -
7 Public works - - -
Parks and recreation - - -
' Capital Outlay 23,500 - 23,500
r ^ Debt Service:
Principal payments - - -
j Interest payments - - -
.—
Total Expenditures 23,500 - 23,500
Excess of Revenues Over (Under)Expenditures 3,688 5,196 1,508
Other Financing Sources(Uses)
Issuance of long-term debt - - -
-. Operating transfers in - -
Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ 3,688 5,196 $ 1,508
Fund Balance,Beginning of Year 8,446
Fund Balance,End of Year $ 13,642
I
IF—
ea-...
See Independent Auditors'Report 32
Town of Mead, Colorado
Combining Balance Sheet I
Enterprise Funds
December 31,2002 d—
Sewer
Water Fund Fund Total
Assets
Cash and cash equivalents $ 417,637 $ 85,624 $ 503,261
Cash-restricted - - -
Accounts receivable - 9,772 9,772 l
Due from other governments - - -
Property tax receivable - - -
Inventory - - -
Prepaid insurance - 4,298 4,298
Total Current Assets 417,637 99,694 517,331
Property,Plant and Equipment
Land - 40,039 40,039
Water rights - - -
Treatment facilities,lines,and other equipment - 347,575 347,575
- 387,614 387,614
Less accumulated depreciation - (82,391) (82,391)
Net Property,Plant And Equipment - 305,223 305,223
Total Assets $ 417,637 $ 404,917 $ 822,554
Liabilities and Fund Equity .(^-1
Liabilities:
Current Liabilities: —.l
Accounts payable $ 1,269 $ 3,889 $ 5,158 1
Due to other funds - -
Current portion of long-term debt - - - 1
Deferred revenue - - -
Accrued liabilities - 786 786
Total Current Liabilities 1,269 4,675 5,944 _1
Long-term Liabilities:
Bonds payable-net of current portion and discount - - - ^
Leases and notes payable - - -
Total Long-term Liabilities - - -
Fund Equity: ^i
Contributed capital - - -
Retained earnings 416,368 400,242 816,610
Total Fund Equity 416,368 400,242 816,610 .,l
Total Liabilities and Fund Equity $ 417,637 $ 404,917 $ 822,554 1
e
•
See Independent Auditors'Report 33 1
Town of Mead, Colorado
'1 r Combining Statement of Revenue,Expenses,and Changes in Retained Earnings
Enterprise Funds
' For the Year Ended December 31,2002
it
Sewer
Water Fund Fund Total
i— Operating Revenues
I Operating income $ 125,470 $ 85,263 $ 210,733
,, , Total Operating Revenues 125,470 85,263 210,733
Operating Expenses
Administration 11,507 11,262 22,769
r System operating expenses 138,688 72,032 210,720
Depreciation and amortization 23,448 270 23,718
r Total Operating Expenses 173,643 83,564 257,207
Operating Income(Loss) (48,173) 1,699 (46,474)
I Nonoperating Revenue(Expenses)
Interest 6,473 2,350 8,823
ITaxes - - -
Interest expense - - -
I
Other - - -
r
I i ~Total Nonoperating Revenues(Expenses) 6,473 2,350 8,823
Net Income(Loss)Before Contributions and Extraordinary Item (41,700) 4,049 (37,651)
I r I
Contributions-Tap Fees 87,900 6,000 93,900
Net Income(Loss)Before Extraordinary Item 46,200 10,049 56,249
r
Extraordinary item-transfer of water fund to Little Thompson
Water District (1,103,737) - (1,103,737)
Ir
' Change in Retained Earnings (1,057,537) 10,049 (1,047,488)
.- Retained Earnings,Beginning of Year 1,473,905 390,193 1,864,098
Retained Earnings,End of Year $ 416,368 $ 400,242 $ 1,826,447
See Independent Auditors'Report 34
21
I
Town of Mead, Colorado
Combining Statement of Cash Flows I
Enterprise Funds
For the Year Ended December 31,2002 t.^
Sewer —1
Water Fund Fund Total
Cash Flows from Operating Activities
Operating income(loss) $ (48,173) $ 1,699 $ (46,474)
Adjustments to reconcile net operating income
to net cash provided by operating activities: 1
Deprecation and amortization 23,448 - 23,448 4
(Increase)decrease in accounts receivable •
( 12,993 (1,002) 11,991
(Increase)decrease in prepaid expenses - 5,232 5,232 _ ^1
Increase(decrease)in accounts payable (2,783) (17,878) (20,661)
Increase(decrease)in accrued liabilities (2,387) 353 (2,034)
Net Cash Provided by Operating Activities (16,902) (11,596) (28,498) "`
Cash Flows From Noncapital Financing Activities
Tax revenue - - - -9
Other - - -
Net Cash Provided by Noncapital Financing Activities - - - 1
Cash Flows From Capital and Related Financing Activities
Tap fees 87,900 6,000 93,900 t • 1 Payment for capital acquisitions (234,906) - (234,906)
Principal paid on long-term debt (3,804) - (3,804)
Interest paid on long-term debt - - -
Net Cash Used For Capital and Related Financing Activities (150,810) 6,000 (144,810)
Cash Flows From Investing Activities ^i
Interest on investments 6,473 2,350 8,823
Other - - -
Net Cash Provided by Investing Activities 6,473 2,350 8,823 i�
Net Increase(Decrease) in Cash (161,239) (3,246) (164,485) -,
Cash,Beginning of Year 578,876 88,870 667,746
Cash,End of Year $ 417,637 $ 85,624 $ 503,261 i
__1
See Independent Auditors'Report 35 ^I
Town of Mead, Colorado
r- Budget to Actual Comparisons
Water Fund
For the Year Ended December 31,2002 •
Water Fund
Variance
Favorable
Budget Actual (Unfavorable)
Sources
Charges for services • $ 246,950 $ 125,470 $ (121,480)
.- Interest 21,000 6,473 (14,527)
Tap fees - 87,900 87,900
Debt proceeds
Property taxes - -
Other -Total Sources 267,950 219,843 (48,107)
Uses
Administration 21,525 11,507 10,018
Operating expenses 158,735 138,688 20,047
Capital outlay 470,700 234,906 235,794
Debt retirement
'" Interest expense 5,005 - 5,005
Treasurer's commissions _ - -
Total Uses 655,965 385,101 270,864
Excess(Deficiency)of Sources Over Uses (388,015) (165,258) (318,971)
! r Reconciliation to Financial Statement Net Income
Depreciation and amortization (23,448)
Loss on disposal of fixed assets (1,103,737)
Principal payments on debt _
Capital outlay 234,906
.- Net Income(Loss)Financial Statement Basis $ (1,057,537)
^
^ See Independent Auditors'Report 36
Town of Mead, Colorado
Budget to Actual Comparisons " t``
Sewer Fund P
For the Year Ended December 31,2002
1
Sewer Fund —1
Variance
Favorable
Budget Actual (Unfavorable) —1
Sources
Charges for services $ 115,000 $ 85,263 $ (29,737) —1
Interest 8,200 2,350 (5,850)
Tap fees 30,000 6,000 (24,000)
Debt proceeds - - -
Property taxes —
Other - - - !
Total Sources 153,200 93,613 (59,587)
Uses _1
Administration 12,400 11,262 1,138
Operating expenses 169,290 72,032 97,258 -i
Capital outlay 56,000 - 56,000
Debt retirement - - -
Equipment lease - - -
Treasurer's commissions - - - (^
Total Uses 237,690 83,294 154,396
Excess(Deficiency)of Sources Over Uses (84,490) 10,319 (213,983) ^j
Reconciliation to Financial Statement Net Income
Depreciation and amortization (270)
Loss on disposal of fixed assets -
Capital outlay -
Net Income(Loss)Financial Statement Basis $ 10,049
=1
,1
-1
-1
-1
See Independent Auditors'Report 37
9
Form Approved
The public report burden for this information collection is estimated to avenge 380 hours annually. OMB No.2125-0)32 I^‘,
City or County:
Town of Mead
LOCAL HIGHWAY FINANCE REPORT YEAR ENDING:
December 31,2002
This Information From The Records Of(example-City of_or County of_): Prepared By: Shirley Wergin
Town of Mead Phone: (303)776.7423 v
I. DISPOSITION OF HIGHWAY-USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE
A. Local B. Local C. Receipts from D. Receipts from 1
ITEM Motor-Fuel Motor-Vehicle State Highway- Federal Highway i
Taxes Taxes User Taxes Adminbtradoe
I. Total receipts available
2. Minus amount used for collection expenses 1
3. Minus amount used for nonhighway purposes
4. Minus amount used for mass transit
5. Remainder used for highway purposes
11. RECEIPTS FOR ROAD AND STREET PURPOSES III. DISBURSEMENTS FOR ROAD AND STREET PURPOSES
I
ITEM AMOUNT ITEM - AMOUNT
A. Receipts from local sources: A. Local highway disbursements:
I. Local highway-user taxes I. Capital outlay(from page 2) 386,684
a. Motor Fuel (from Item I.A.5.) 2. Maintenance: 23,203
b. Motor Vehicle(from Item I.B.5.) 3. Road and street services:
c. Total a.+b. a. Traffic control 0, :Lions 4 181
2. General fund appropriations b. Snow and ice removal 920 1
3. Other local imposts(from page 2) 209,296 c. Other 17,249
4. Miscellaneous local receipts(from page 2) 245,291 d. Total (a.through c.) 22,350
5. Transfers from toll facilities 4. General administration&miscellaneous 81,877
6. Proceeds of sale of bonds and notes: 5. Hi: wa law enforcement and saf (----
a. Bonds-Original Issues 6. Total (1 through 5) 514,114
b. Bonds-Refunding Issues
Issues B. Debt service on local obligations:
c. Notes 1. Bonds:
gl
d. Total(a.+b.+c.) - a. Interest .y
7. Total(I through 6) 454,587 b. Redemption
B. Private Contributions 100,000 c. Total a.+b.
C. Receipts from State government 2. Notes:
from , •e 2 88,445 a. Interest 4 503 T
D. Receipts from Federal Government b. Redemption 30,878
(from page 2) - c. Total(a.+b.) 35,381
E. Total receipts(A-7+B+C+D) 643,032 3. Total (1.c+2.c) 35,381
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements(A.6+BJ+C+D) 549,495
IV. LOCAL HIGHWAY DEBT STATUS r`.
(Show all entries at par)
Opening Debt Amount Issued Redemptions Closing Debt
A. Bonds ota
1. Bonds(Refunding Portion) 71
B. Notes(Total) 64,281 36,456 30,878 69,859
V. LOCAL ROAD AND STREET FUND BALANCE
A.Beginning Balance B.Total Receipts C.Total Disbursements D.Ending Balance E.Reconciliation 1
150,801 643,032 549,495 244,338 r
Notes and Comments:
FORM FHWA-536(Rev.12-96) PREVIOUS EDITIONS OBSOLOETE (Next Page)
1
(•••••• — 1111
1
See Independent Auditors'Report 38 —I
•
rSTATE:
Colorado .
_ LOCAL HIGHWAY FINANCE REPORT YEAR ENDING(rnm/yy):
December 31,2002
II. RECEIPTS FOR ROAD AND STREET PURPOSES-DETAIL
^
ITEM AMOUNT ITEM AMOUNT
A3. Other local Ira i osts: A.4. Miscellaneous local recei ts:
a. Property Taxes and Assesments a. Interest on investments
b. Other local imposts: b. Other - 1,461
I. Sales Taxes 177,247 c.Transfers 240,000
2. Traffic Fines . d. Capital Credits
3. Specific Ownership Tax • e. Sale of Assets 2,575
"' 4. Motor Vehicle Registration . f. Fees/Licenses/Permits 1,255
5.From Cities/Counties 32,049 g. Service Performed
6. Total(1.through 5.) 209,296 h. Refunds of Expenditures
c. Total(a.+b. 209,296 i. Total(a.throu h h.) 245,291
(Ca froward to age I) (Ca forwardto e I)
ITEM - AMOUNT - ITEM AMOUNT
C. Recd,is from State Government D. Recei i is from Federal Government
1. Hi:hwa -user taxes 77,910 1. FHWA from Item 1.D.5.
2. State general funds 2. Other Federal agencies:
3. Other State funds: a. Forest Service
a. State bond proceeds b. FEMA
b. Project Match • c. HUD
c. Motor Vehicle Registration 10,535 d. Mineral Leasing
d. (Specify) e. Pay Lieu of Tax
^,r.,, e. (Specify) f. Other Federal
f. Total(a.through e.) 10,535 g. Total fa.through f.) 0
4. Total 1.+2.+3i) 88,445 3. Total(I.+2.:
(carry froward to.. a l)
HI. DISBURSEMENTS FOR ROAD AND STREET PURPOSES-DETAIL
ON NATIONAL OFF NATIONAL
^ HIGHWAY HIGHWAY TOTAL
• SYSTEM SYSTEM
(a) c
A.I. Capital outlay:
.— a. Right-Of-Way Costs 0
b. Engineering Costs 29,129 29,129
c. Construction:
(I). Capacity Improvements 336,351 -336,351
.— (2). System Preservation 19,472 19,472
(3). Safety And Other 1,732 1,732
(4). Total Construction(1)+(2)+(3) 357,555 0 357,555
d. Total Capital Outlay(Lines 1.a.+l.b.+1.c.4) 386,684 0 386,684
^ (C- f«wardm_ge I)
Notes and Comments: — - ---
^
^
FORM FHWA-536 )(Rev.12-96 PREVIOUS EDITIONS OBSOLETE
^ 2
P.
See Independent Auditors'Report 39
Town of Mead, Colorado
Financial Statements
December 31, 2003
1.
a
a
Board of Trustees
Richard E. Kraemer—Mayor
Richard W. Macomber— Mayor Pro-Tern
John R.Heard
Elizabeth A. Knapp
Ursula J.Morgan
,.t
Michael W. Schulz -.
Harry C. Walker J
Administration
Michael D. Friesen—Town Administrator
Candace A.Bridgwater—Town Clerk
Shirley R. Wergin—Town Treasurer
r
Table of Contents
Page
Independent Auditors' Report
General-Purpose Financial Statements:
• Combined Balance Sheet-All Fund Types and Account Groups 2
• Combined Statement of Revenues,Expenditures,and Changes in Fund Balances-All
Governmental Fund Types 3
• Combined Statement of Revenues,Expenditures and Changes in Fund Balances-Budget and
Actual-All Governmental Fund Types 4—5
• Combined Statement of Revenues,Expenses and Changes in Retained Earnings-All Proprietary
Fund Types 6
• Combined Statement of Cash Flows-All Proprietary Fund Types 7
• Notes to Financial Statements 8—12
Supplemental Information:
• General Fund
• Schedule of Revenues-Budget and Actual—General Fund 13
• Schedule of Expenditures-Budget and Actual—General Fund 14
• Special Revenue Funds
• Combining Balance Sheet-All Special Revenue Funds 15— 18
• Combining Statement of Revenues,Expenditures,and Changes in Fund Balance-
Budget and Actual-All Special Revenue Funds 19—32
• Enterprise Funds
• Combining Balance Sheet 33
• Combining Statement of Revenues,Expenses and Changes in Retained Earnings 34
• Combining Statement of Cash Flows 35
• Budget to Actual Comparisons 36—37
• Information Required by Oversight Agencies
.. • Local Highway Finance Report 38—39
•
Johnson, Holscher & Company, 5875 Greenwood Plaza Boulevard
:.. Suite 140
Greenwood Village.Colorado 80111
Professional Corporation Telephone (303)884-CPAS(2727)
Facsimile (303)8843172
Certiied Pubic Accountants
v..
r.
Independent Auditors' Report
Town Board
Town of Mead
,r' Mead,Colorado
We have audited the accompanying general-purpose financial statements of the Town of Mead,Colorado as
of and for the year ended December 31,2003, 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.
r We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. 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.
d �
In our opinion, the general-purpose financial statements referred to above present fairly, in all material
respects,the financial position of the Town of Mead, Colorado as of December 31,2003, and the results of
its operations and cash flows of its proprietary fund types for the year then ended in conformity with
accounting principles generally accepted in the United States of America.
r_ Our audit was made for the purpose of forming an opinion on the general-purpose financial statements taken
as a whole. The supplemental information listed in the table of contents is presented for purposes of
additional analysis and is not a required part of the general-purpose financial statements of the Town of
Mead, Colorado. Such information has been subjected to the auditing procedures applied in the
examination of the general-purpose financial statements and, in our opinion, is fairly stated in all material
respects in relation to the general-purpose financial statements taken as a whole.
r
Englewood,Colorado L
May 27,2004 -
��
Professional Corporation
1
General-Purpose Financial Statements
Ir
i.r
r
r
Town of Mead, Colorado
Combined Balance Sheet-All Fund Types and Account Groups
December 31,2003
Proprietary
Governmental Fund Types Fund T)pe Account Groups
General Special Enterprise General Fixed General Long- Totals(Memo-
Fund Revenue Funds Assets term Debt random Only)
Assets
Cash and cash equivalents $ 311,921 $ 1,289,518 $ 483,695 $ - $ - $ 2,085,134
Accounts receivable 64,954 26,730 11,404 - - 103,088
Taxes receivable 385,838 - - - - 385,838
Prepaid expenses - - 15,466 - - 15,466
Property,plant and equipment - - 466,181 705,558 - 1,171,739
Amount to be provided for
retirement of long-tens debt - - - - 101,035 101,035
Total Assets $ 762,713 $ 1,316,248 $ 976,746 $ 705,558 $ 101,035 $ 3,862,300
SE
Liabilities and Fund Equity
Liabilities:
Accounts payable $ 47,216 $ 7,639 $ 11,330 $ - S - $ 66,185
Deferred revenues 385,838 - - - - 385,838
Accrued liabilities 2,657 6,897 801 - - 10,355
Security deposits 14,436 - - - - 14,436
Capital lease obligations payable - - - - 101,035 101,035
Total Liabilities 450,147 14,536 12,131 - 101,035 577,849
Fund Equity:
Retained earnings - - 964,615 - - 964,615
Investment in general fixed assets - - - 705,558 - 705,558
Fund Balance:
Reserved for emergency 59,200 - - - - 59,200
Unreserved 253,366 1,301,712 - - - 1,555,078
Total Fund Equity 312,566 1,301,712 964,615 705,558 - 3,284,451
Total Liabilities and Fund Equity $ 762,713 $ 1,316,248 $ 976,746 $ 705,558 $ 101,035 $ 3,862,300
MIIIIMINIENISM
The acenripanying notes are an integral part of the financial statements. ) 2
l- 3, 3_, I __1 _1 1 1 1 1 1 1 1 _I.; _..1 _ L _La ___101 ‘ ._14
•
Town of Mead, Colorado
Combined Statement of Revenues,Expenditures,and Changes in Fund Balance-All Governmental
Fund Types
e--- For the Year Ended December 31,2003
Governmental Fund Types
General Special Revenue Total(Memor-
Fund Funds andum only)
Revenues
Property tax $ 360,656 $ $ 360,656
Sales and use taxes 205,922 206,708 412,630
Other taxes and assessments 101,329
Licenses and permits 101,329
Fines and forfeits 153,263 4,789 158,052
5,025 5,025
►- Fee accounts 258,168 10,259
-
Intergovernmental revenue 268,427
Impact fees 128,573 128,573
-
Interest income 494,235 494,235
'— 7,147 5,376 12,523
Miscellaneous revenue 20,027 11,014
31,041
Total Revenues 1,111,537 860,954 1,972,491
Expenditures
Current Operating:
General government 707,222 10,667 717,889
Public safety 133,434 133,434
-
Public works 34,723 330,098 364,821
P' Parks and recreation 4,703 99,582 104,285
Capital Outlay 24,138
68,433 92,571
Debt Service:
Principal payments 20,206 18,932 39,138
Interest payments 2,748
3,751 6,499
Total Expenditures 927,174 531,463 1,458,637
Excess of Revenues Over(Under)Expenditures 184,363 329,491 513,854
r Other Financing Sources(Uses)
Issuance of long-term debt 25,719 25,719
-
Sale of assets
-
ra Operating transfers in 20,899 40 750
Operating transfers out 221,1100 262,039
(217,140) (24,000) (241,140)
Total Other Financing Sources(Uses) (196,241) 243,609 47,368
Excess of Revenues and Other Sources Over
— (Under)Expenditures and Other Uses (11,878) 573,100 561,222
Fund Balance,Beginning of Year 324,444 728,612 1,053,056
Fund Balance,End of Year $ 312,566 $��
1,301,712 $ 1,614,278
The accompanying notes are an integral part of the fmancial statements, 3
Town of Mead, Colorado
Combined Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-All
Governmental Fund Types
For the Year Ended December 31,2003
3
General Fund
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Property tax $ 358,432 $ 360,656 $ 2,224
Sales and use tax 160,000 205,922 45,922
Other taxes and assessments 86,500 101,329 14,829
Licenses and permits 58,100 153,263 95,163 j
Fines and forfeits 8,000 5,025 (2,975)
Fee accounts 139,000 258,168 119,168
Intergovernmental revenue - - - : )
Impact fees - - - 7
Interest income 11,000 7,147 (3,853)
Miscellaneous revenue 26,154 20,027 (6,127) I
Total Revenues 847,186 1,111,537 264,351
Expenditures
Current Operating:
General government 693,198 707,222 (14,024)
Public safety 98,189 133,434 (35,245) (
Public works 32,463 34,723 (2,260) !
Parks and recreation 5,400 4,703 697
Contingency 131,500 - 131,500
Capital Outlay 29,500 24,138 5,362
Debt Service:
Principal payments 20,206 20,206
Interest payments 2,748 2,748 -
Total Expenditures 1,013,204 927,174 86,030 r:j
Excess of Revenues Over(Under)Expenditures (166,018) 184,363 350,381 —J1
Other Financing Sources(Uses) ._1
Issuance of long-term debt - - -
Sale of assets - - -
Operating transfers in 20,000 20,899 899 i
Operating transfers out (217,144) (217,140) 4
Total Other Financing Sources(Uses) (197,144) (196,241) 903
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (363,162) (11,878) $ 351,284 I
Fund Balance,Beginning of Year 324,444
Fund Balance,End of Year $ 312,566
The accompanying notes are an integral part of the financial statements. 4
...i
r
r
H
Special Revenue Funds Totals(Memorandum Only)
o
,. Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
r $ $ - $ - $ 358,432 $ 360,656 $ 2,224
160,000 206,708 46,708 320,000 412,630 92,630
- - 86,500 101,329 14,829
700 4,789 4,089 58,800 158,052 99,252
- - 8,000 5,025 (2,975)
9,000 10,259 1,259 148,000 268,427 120,427
.- 96,000 128,573 32,573 96,000 128,573 32,573
392,250 494,235 101,985 392,250 494,235 101,985
4,804 5,376 572 15,804 12,523 (3,281)
in
100 11,014 10,914 26,254 31,041 4,787
662,854 860,954 198,100 1,510,040 1,972,491 462,451
15,306 10,667 4,639 708,504 717,889 (9,385)
^ 98,189 133,434 (35,245)
333,257 330,098 3,159 365,720 364,821 899
105,168 99,582 5,586 110,568 104,285 6,283
- - - 131,500 - 131,500
496,500 68,433 428,067 526,000 92,571 433,429
20,401 18,932 1,469 40,607 39,138 1,469
- 3,751 (3,751) 2,748 6,499 (3,751)
970,632 531,463 439,169 1,983,836 1,458,637 525,199
(307,778) 329,491 637,269 (473,796) 513,854 987,650
r
24,000 25,719 1,719 24,000 25,719 1,719
8,400 750 (7,650) 8,400 750 (7,650)
241,144 241,140 (4) 261,144 262,039 895
(24,000) (24,000) - (241,144) (241,140) 4
4-4 249,544 243,609 (5,935) 52,400 47,368 (5,032)
,- $ (58,234) 573,100 $ 631,334 $ (421,396k 561,222 $ 982,618
728,612 1,053,056
$ 1,301,712 $ 1,614,278
The accompanying notes are an integral part of the financial statements. 5
Town of Mead, Colorado
Combined Statement of Revenue,Expenses,and Changes in Retained Earnings
All Proprietary Fund Types
For the Year Ended December 31,2003
Operating Revenues
Operating income $ 95,276
Total Operating Revenues 95,276
Operating Expenses
Administration 24,579
System operating expenses - 73,994
Depreciation and amortization 33,659 - )
)
Total Operating Expenses 132,232
Operating Income(Loss) (36,956) ^�
Nonoperating Revenue(Expenses) —"ITaxes 3,366
Interest income -
Interestexpense -
Engineering (11,279) —,
Other -
Total Nonoperating Revenues(Expenses) (7,913) —
Net Income(Loss)Before Contributions,Transfers and Extraordinary Item (44,869)
—41
i
Contributions-tap fees 430,000
Transfers out (20,899)
Net Income Before Prior Period Adjustment and Extraordinary Item 364,232
Prior period adjustment 180,708
Extraordinary item-transfer of water fund to Little Thompson Water District (396,935)
Change in Retained Earnings 148,005
Retained Earnings-Beginning of Year 816,610
Retained Earnings-End of Year $ 964,615
The accompanying notes are an integral part of the financial statements. 6
Town of Mead, Colorado
re—
Combined Statement of Cash Flows
All Proprietary Fund Types
.-. For the Year Ended December 31,2003
Cash Flows from Operating Activities
Operating income(loss) $ (36,956)
^ Adjustments to reconcile net operating income
to net cash provided by operating activities:
Deprecation and amortization 33,659
.— (Increase)decrease in accounts receivable
(1,632)
(Increase)decrease in prepaid expenses (11,168)
Increase(decrease)in accounts payable 6,173
r. Increase(decrease)in accrued liabilities 15
Net Cash Provided by Operating Activities (9,909)
r Cash Flows From Noncapital Financing Activities
Tax revenue
Payment to users (417,834)
Net Cash Provided by Noncapital Financing Activities (417,834)
Cash Flows From Capital and Related Financing Activities
Tap fees 430,000
Payment for capital acquisitions (13,910)
r —, Principal paid on long-term debt -
Interest paid on long-term debt -
Net Cash Used For Capital and Related Financing Activities 416,090
Cash Flows From Investing Activities
Interest on investments 3,366
Other
(11,279)
Net Cash Provided By Investing Activities (7,913)
r
Net Increase(Decrease)In Cash (19,566)
^ Cash,Beginning of Year 503,261
Cash,End of Year $ 483,695
n
The accompanying notes are an integral part of the financial statements. 7
Town of Mead, Colorado
Notes To Financial Statements
'^ December 31,2003
General Fund
1. Summary of Significant This fund is established to account for resources devoted to
Accounting Policies financing the general services that the Town perfomis for
The accounting methods and procedures adopted by the its citizens. General tax revenues and other sources of
revenue used to finance the fundamental operations of the
Town of Mead, Colorado conform to generally accepted Town are included in this fund. The General Fund is
.. accounting principles as applied to governmental entities. charged with all costs of operating the government for
The following notes to the financial statements are an which a separate fund has not been established.
integral part of the Town's General-purpose Financial
Statements.
Reporting Entity Special Revenue Funds
The Town's major operations include wastewater collection These funds are established to account for the proceeds of
and treatment, public safety, public works, recreation and specific revenue sources (other than expendable trusts, or
parks, and general administrative services. Prior to 2003 for major capital projects) that are legally restricted to
the Town also had a water system that was sold to Little expenditures for specified purposes.
r" Thompson Water District in 2002. During the year ended
2003 the Town distributed the remaining cash balance to PROPRIETARY FUND TYPES
the residents of the Town.
These funds account for operations that are organized to be
For financial reporting purposes the Town includes all of self-supporting through user charges. The funds included
the funds and account groups relevant to the operations of this category are the enterprise funds.
the Town of Mead. The financial statements presented
" herein do not include agencies which have been formed Enterprise Funds
under applicable state laws or separate and distinct units of Enterprise funds are established to account for operations
government apart from the Town of Mead for which the that are financed and operated in a manner similar to
Town and its elected officials are not financially private business enterprises, where the intent is that costs
responsible. of providing goods or services to the general public on a
continuing basis should be financed or recovered primarily
,. Basis of Presentation -Fund Accounting through user charges.
The accounts of the Town of Mead are organized on the
basis of funds and account groups, each of which is The Sewer Fund contains both operating and non-operating
considered a separate accounting entity. The Town has (i.e. capital improvement) revenues and expenditures,
r created several types of funds and a number of discrete which are separately accounted for. Sewer tap fees are the
funds within each fund type. Each fund is accounted for by primary revenue source for non operating expenditures and
a separate set of self-balancing accounts that comprise its are restricted for use for capacity improvements of the
assets, liabilities, fund balance, revenues, and sewer system due to growth or development. Sewer tap
expenditures/expenses. The individual funds account for fees cannot be used for operating or maintenance/repair
the governmental resources allocated to them for the expenditures,which mus be funded by user charges.
purpose of carrying on specific activities in accordance ACCOUNT GROUPS
with laws,regulations,or other restrictions.
The funds are grouped into two fund types and two account General Fixed Assets Account Group
groups as described below. This is not a fund,but rather an account group that is used
to account for general fixed assets acquired principally for
GOVERNMENTAL FUND TYPES general purposes and excludes fixed assets in the
These are the funds through which most governmental proprietary funds.
functions typically are financed. The funds included in this
" ' category are as follows:
^
8
Town of Mead, Colorado
Notes To Financial Statements 9
December 31,2003
General Long-term Debt Account Group Cash I
Long-term liabilities expected to be financed from The Town pools cash resources of its various funds in
governmental funds are accounted for in the General Long- order to facilitate the management of cash. Cash
term Debt Account Group,not in the governmental funds. applicable to a particular fund is readily identifiable. The
balance in the pooled cash accounts is available to meet
Basis of Accounting current operating requirements. Cash in excess of current
Governmental funds utilize the modified accrual basis of requirements is invested in various interest-bearing
accounting. Under this method,revenues are recognized in securities and disclosed as part of the Town's investments.
the accounting period in which they become both available
and measurable. Licenses and permits, charges for Restricted cash amounts have been established to provide
services, fines and forfeits, and miscellaneous revenues are the required reserves for payment of debt
recorded as revenues when received in cash. General
property taxes,self-assessed taxes,and investment earnings For purposes of the statement of cash flows, the Town '
are recorded when earned (when they are measurable and considers all highly liquid investments with an original -'
available). Expenditures are recognized in the accounting maturity of three months or less to be cash equivalents.
period in which the fund liability is incurred,if measurable, ^�
except expenditures for debt service,prepaid expenses,and
other long-term obligations which are recognized when Receivables
paid. All receivables are reported at their gross value and,where
appropriate, are reduced by the estimated portion that is ^�
All proprietary funds are accounted for using the accrual expected to be uncollectable.
basis of accounting. Their revenues are recognized when
they are earned, and their expenses are recognized when Interest Receivable
they are incurred. The Town has elected to follow ^
accounting principles established by the Governmental Interest on investments is recorded as revenue in the year
Accounting Standards Board(GASB). the interest is earned and is available to pay liabilities of
the current period.
Budgetary Data Property,Plant And Equipment
All funds of the Town have a separate adopted budget. Fixed assets used in governmental fund type operations are ..-!
The following procedures are utilized by the Town in accounted for in the General Fixed Assets Account Group.
adopting and revising the budget: Public domain (infrastructur
e)) general fixed assets
1. The Town Administrator submits a preliminary budget consisting of certain improvements other than buildings,
such as roads, sidewalks, and bridges are not capitalized
for the upcoming calendar year to the Town Board in
Property,plant, and equipment acquired or constructed for
October. Budget workshops are held in October and
November. general governmental operations are recorded as —1
2. A public hearing is held in November or December to expenditures in the fund making the expenditure and
capitalized at cost in the General Fixed Assets Account
obtain the taxpayers'comments.
3. The budget is legally enacted through the passage of a Group.
resolution.
4. Any revisions to the adopted budget must be submitted Property, plant and equipment for proprietary funds is
to the Board and adopted by a resolution. capitalized in the respective funds to which it applies.
5. Appropriations lapse at the end of each year.
6. The Town does not recognize encumbrances. Property, plant, and equipment is stated at cost. Where ^
cost could not be determined from the available records,
The budgets are prepared on the modified accrual basis of estimated historical cost was used to record the estimated
accounting. value of the assets. Assets acquired by gift or bequest are ^(
recorded at their fair market value at the date of transfer.
9
r
Town of Mead, Colorado
Notes To Financial Statements
December 31,2003
Depreciation of exhaustible fixed assets used by results of operations, or cash flows in conformity with
proprietary funds is charged as an expense against generally accepted accounting principles, nor is such
il
operations, and accumulated depreciation is reported on presentation equivalent to a consolidation. Interfund
the proprietary fund's balance sheet. Depreciation has been transactions have not been eliminated from the total
provided over the estimated useful lives using the straight- column of each financial statement.
line method of depreciation. These lives are from 5 to 30
p years for the Sewer Fund. 2. Deposits With Financial
The Town enters into leases for equipment which qualify Institutions
r- for treatment as operating leases. However,where it is the A summary of cash and cash equivalents is as follows:
intention of the Town to acquire ownership of the
equipment through such arrangements, the Town has Depository Amount
capitalized these leases. Petty cash $ 103
r
I Cash in banks 357,691
Long-term Debt Cash with Colorado Diversified Trust 1,727,340
!^ Long-term obligations of the Town are reported in the Total cash and equivalents $ 2,085,134
General Long-term Debt Account Group. Long-term
liabilities for certain bonds are reported in the appropriate
enterprise fund.
Deposits of the Town at each bank where the funds are
Fund Equity maintained are insured up to $100,000, either by the
Federal Deposit Insurance Corporation (FDIC) or by the
The unreserved fund balances for governmental funds Federal Savings and Loan Insurance Corporation(FSLIC).
represent the amount available for budgeting future Colorado's Public Deposit Protection Act of 1975 enables
operations. The reserved fund balances for governmental any eligible public depository to elect to secure public
funds represent the amount that has been legally identified deposits by pledging eligible collateral having a market
.- for specific purposes. Unreserved retained earnings for value at all times equal to at least one hundred two percent
proprietary funds represent the net assets available for (102%)of the aggregate of said deposits not insured.
future operations or distribution.
Deposits are placed into three categories depending on the
Property Taxes credit risk. The categories are as follows:
The County is responsible for assessing, collecting, and
distributing property taxes in accordance with enabling 1. Insured or collateralized with securities held by the
state legislation. Property taxes attach as an enforceable entity or by its agent in the entity's name
lien on the first day of the levy year and may be paid in two 2. Collateralized with securities held by the pledging
equal installments before the last day of February and June financial institution's trust department or agent in the
-- 15,or in full before the last day of April. entity's name
3. Uncollateralized, including any bank balance that is
Property tax revenues are recognized when they become collateralized with securities held by the pledging
available. Available includes those property tax financial institution, or by its trust department or agent.
receivables expected to be collected within sixty days after but not in the entity's name.
year end. Delinquent taxes are considered fully collectable
and, therefore, no allowance for uncollectable taxes is At December 31, 2003, $200,000 of the Town's cash on
provided, deposit in banks was federally insured. The remainder,
$217,175 was collateralized under Colorado's Public
Total Columns Deposit Protection Act.
The Combined Financial Statements include a total column As shown above, the Town has investments in Colorado
that is described as "memorandum only." These columns Diversified Trust. This institution has been established for
are used to facilitate comparisons from one year to another, local government entities in Colorado to pool surplus funds
— Data in these columns do not present financial position, for investment purposes as authorized by state statute.
10
4
I
Town of Mead, Colorado
Notes To Financial Statements .. ,
December 31,2003 1—
Ll
They operate similar to a money market fund, and each amendment's language in order to deter ine its 1
s
share is equal in value to$1.00. compliance.
3. Property Tax Accrual Impact Fees I
Property taxes which have been levied for 2003 and will The Town collects impact fees for development. Under the
P rtY impact fee ordinance,if the fees are not encumbered within
not be collected until 2004 have been accrued as a 6 years of collection, the fees are to be returned to entity
receivable at December 31, 2003. An offsetting liability that paid them. At year end the unencumbered fees the
for deferred property tax revenue has been recorded in Town had collected is$887,736. .
each of the affected funds. "�
Wastewater Lagoon
4. Contingencies The State of Colorado has issued new stream standards that
TABOR will impact future treatment requirements for the existing
Colorado voters passed an amendment to the State aerated lagoon system. This will result in the need to 1
Constitution, Article X, Section 20 (also known as upgrade the existing treatment plant. Management
Amendment I or TABOR Amendment), which has several currently estimates that a new treatment facilities will be
limitations, including revenue raising, spending abilities, needed by the year 2009 and will cost approximately Hand other specific requirements of state and local $6,000,000 to$7,000,000.
governments. The Amendment is complex and subject to
judicial interpretation. The Town believes it is in 5. Long-term Debt —I
compliance with the requirements of the amendment. Debt outstanding as of December 31,2003 consisted of the
However, the Town has made certain interpretations of the following:
Description Balance'" —I
Lease payable on Community Center at an original amount of$180,000. Interest at 7.448%per annum. Principal $ 21,722
and interest payments totaling$11,477 due each June 1 and December 1 through 2004. --I
:
Lease payable on equipment with an original cost of$53,838. Principal and interest at 5.25%.due through 2006. $ 31,339
Lease payable on equipment with an original cost of$35,505. Principal and interest at 5.0%. due through 2007. $ 25,763
Lease payable on equipment with an original cost of$25,719. Principal and interest at 5.25% through March of $ 22,211
2008
Summary of Changes in Long-term Debt ^1
Beginning Ending t
Description Balance Additions Payments Balance
Leases ;
Equipment leases $ 74,003 $ 25,719 $ 20,409 $ 79,313 i
Community Center Lease 41,922 - 20.200 21,722 i
Total Leases $ 111925 $ 25 719 S 40 609 $ 101 035
-
-
1
11
Town of Mead, Colorado
Notes To Financial Statements
December 31,2003
Summary, of Debt Service Requirements
Year Leases Interest Total
2004 $ 44,371 $ 4,485 $ 48,856
2005 23,802 2,339 26,141
2006 21,934 1,128 23,062
2007 9,502 290 9,792
2008 1,426 16 1,442
Totals $ 101 01 j 8 258 $ 109 291
6. General Fixed Asset Account Group
Activity for general fixed assets which are capitalized by the Town is summarized as follows:
Beginning Ending
_ Description Balance Additions Deletions Balance
Land $ 7,926 $ - $ - $ 7,926
Buildings 289,697 9,125 - 298,822
Park Improvements 110,758 - 110,758
^ Equipment 134,897 25,719 - 160,616
Vehicles 127.436 - - 127,436
Totals $ 670 714 $ 34 844 -$ - $ 705.558
_ 7. Risk Management
The Town is exposed to various risks of loss related to injuries of employees while on the job, property loss and torts
committed by the City or its employees. The Town has joined together with other municipalities in the State of Colorado to
form the Colorado Intergovernmental Risk Sharing Agency(CIRSA),a public entity risk pool currently operating as a common
risk management and insurance program for members. The Town pays an annual contribution for its property and liability
insurance coverage. The intergovernmental agreement provides that the pool will be financially self-sustaining through member
contributions and additional assessments,if necessary, and that the pool will purchase insurance through commercial companies
,� for members'claims in excess of specified self-insured retention,which is determined each policy year.
8. Prior Period Adjustment
.— Beginning retained earnings of the Sewer Fund has been restated to reflect fixed assets contributed by developers in prior years
but were not previously recorded.
12
Supplemental Information
—
Town of Mead, Colorado
Schedule of Revenues-Budget and Actual
General Fund
For the Year Ended December 31,2003
Variance
Favorable
Budget Actual (Unfavorable)
Taxes
Property tax $ 358,432 $ 360,656 $ 2,224
Specific ownership tax 30,000 40,778 10,778
Sales and use taxes 160,000 205,922 45,922
Franchise taxes 53,000 53,578 578
Other 3,500 6,973 3,473
Total Taxes 604,932 667,907 62,975 ,..,
Licenses and Permits
Business sales tax license 5,000 1,875 (3,125) _
Building permits 52,500 150,152 97,652
Other 600 1,236 636
Total Licenses And Permits 58,100 153,263 95,163
Court Fines and Costs 8,000 5,025 (2,975)
Fee Accounts
Developer bill backs 136,000 248,351 112,351
Application fees - 8,575 8,575 (^—
Land use&engineering fees 3,000 1,242 (1,758)
Total Fee Accounts 139,000 258,168 119,168
Other
Interest income 11,000 7,147 (3,853)
Miscellaneous 26,154 20,027 (6,127)
Intergovernmental revenue - - -
TotalOtherRevenue 37,154 27,174 (9,980)
Operating transfers in 20,000 20;899 899
Total Revenue $ 867,186 $ 1,132,436 $ 265,250
See Independent Auditors'Report 13
I� Town of Mead, Colorado
A, Schedule of Expenditures-Budget and Actual
General Fund
For the Year Ended December 31,2003
,_ Variance
Favorable
Budget Actual (Unfavorable)
General Government
Mayor and board stipends $ 13,800 $ 13,200 $ 600
Salaries and wages 141,791 138,460 3,331
Payroll taxes and employee benefits 50,672 52,359 (1,687)
Ordinance codification 7,500 - 7,500
Audit and accounting 19,000 17,304 1,696
Insurance and bonds 8,000 2,398 5,602
Professional fees 254,000 366,176 (112,176)
Telephone and utilities 10,150 9,430 720
Elections
4,000 2,406 1,594
Supplies 17,000 20,962 (3,962)
Schools and conferences 9,000 6,345 2,655
Other 158,285 78,182 80,103
Total General Government 693,198 707,222 (14,024)
Public Safety
Law enforcement 33,310 31,961 1,349
- . Judicial 20,879 20,776
103
Building inspections 44,000 80,697 (36,697)
Total Public Safety 98,189 133,434 (35,245)
Other
Public works 32,463 34,723 (2,260)
Parks and recreation 5,400 4,703 697
Contingencies 131,500 - 131,500
Total Other 169,363 39,426 129,937
Capital Outlay 29,500 24,138 5,362
Debt Service
Principal payments 20,206 20,206
Interest payment 2,748 2,748
Total Debt Service 22,954 22,954 -
Transfers to other funds 217,144 217,140 4
Total Expenditures $ 1,230,348 $ 1,144,314 $ 86,034
See Independent Auditors'Report 14
lit
Town of Mead, Colorado
Combining Balance Sheet
MI Special Revenue Funds 'II
December 31,2003
i
Road and Conservation
Bridge Trust Park
Assets
Cash and cash equivalents $ 331,690 $ 7,032 $ 38,886
Accounts receivable 26,730 - - ..
Due from other governments - - -
Due from other funds - - -
Other assets - - - _
Total Assets $ 358,420 $ 7,032 $ 38,886
Liabilities and Fund Balance —I
Liabilities
Accounts payable $ 2,861 $ - $ 817
Due to other fiords - - -
Accrued liabilities 3,836 - 3,061
Total Liabilities 6,697 - 3,878 ^1
Fund Balance 351,723 7,032 35,008 !
Total Liabilities and Fund Balance $ 358,420 $ 7,032 $ 38,886 t
—1
^I
See Independent Auditors'Report 15
Town of Mead, Colorado
+� Combining Balance Sheet
All Special Revenue Funds
r'^ December 31,2003
,. Police Municipal Park
Drainage Protection Facility System
Assets
�. Cash and cash equivalents $ 24,174 $ 4,624 $ 227,791 $ 13,994
Accounts receivable - - - -
Due from other governments - - - -
Due from other funds - - - -
Other assets - - - -
Total Assets $ 24,174 $ 4,624 $ 227,791 $ 13,994
Liabilities and Fund Balance
Liabilities
Accounts payable $ 341 $ - $ - $ 3,620
Due to other funds - - - -
Accrued liabilities - - - -
Total Liabilities 341 - • - 3,620
Fund Balance 23,833 4,624 227,791 10,374
Total Liabilities and Fund Balance $ 24,174 $ 4,624 $ 227,791 $ 13,994
See Independent Auditors'Report 16
• re
Town of Mead, Colorado
Combining Balance Sheet 91
All Special Revenue Funds
December 31,2003
I �
1.
Downtown Capital Storm
Revitalization Equipment Drainage Transportation
Assets
Cash and cash equivalents $ 28,547 $ 40,340 $ 28,393 $ 175,246
Accounts receivable - - - - j
Due from other governments - - - -
Due from other funds - - - -
Other assets - - - - -1
Total Assets $ 28,547 $ 40,340 4 $ 28,393 $ 175,246
12
Liabilities and Fund Balance
Liabilities
Accounts payable $ - $ - $ - $ -
Due to other funds - - - -
Accrued liabilities - - - -
Total Liabilities - - - -
Fund Balance 28,547 40,340 28,393 175,246 1
Total Liabilities and Fund Balance $ 28,547 $ 40,340 $ 28,393 $ 175,246
,
—1
-1
4
—1
4
4
-1
See Independent Auditors'Report 17
•
•
Town of Mead, Colorado
Combining Balance Sheet
All Special Revenue Funds
December 31,2003
Open Recreation
Space Center Total
Assets
Cash and cash equivalents $ 248,745 $ 120,056 $ 1,289,518
Accounts receivable • - - 26,730
Due from other governments _
Due from other funds _
Other assets
Total Assets $ 248,745 $ 120,056 $ 1,316,248
Liabilities and Fund Balance
Liabilities
Accounts payable $ $ - $ 7,639
Due to other funds
Accrued liabilities - - 6,897
Total Liabilities
' - 14,536
Fund Balance 248,745 120,056 1,301,712
Total Liabilities and Fund Balance $ 248,745 $ 120,056 $ 1,316,248
ir.
See Independent Auditors'Report 18
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual- 9a,
All Special Revenue Funds
For the Year Ended December 31,2003 - .
3
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ 140,000 $ 148,493 $ 8,493
Use tax 20,000 58,215 38,215 a
Other taxes and assessments - - -
Licenses and permits 700 4,789 4,089
Motor vehicle registration fees 9,000 10,259 1,259 3
Interest 4,804 5,376 572
Intergovernmental 96,000 128,573 32,573
Impact fees 392,250 494,235 101,985 3
Miscellaneous revenue 100 11,014 10,914
Total Revenues 662,854 860,954 198,100
Expenditures
Current Operating:
General government 15,306 10,667 4,639
Li
Public works 333,257 330,098 3,159
Parks and recreation 105,168 99,582 5,586
Contingencies - - -
Capital Outlay 496,500 68,433 428,067 (^
Debt Service:
Principal payments 20,401 18,932 1,469
Interest payments - 3,751 (3,751) -1
Total Expenditures 970,632 531,463 439,169
Excess of Revenues Over (Under)Expenditures (307,778) 329,491 637,269 j
Other Financing Sources(Uses)
Issuance of long-term debt 24,000 25,719 1,719
Sale of assets 8,400 750 (7,650)
Operating transfers in 241,144 241,140 (4)
Operating transfers out (24,000) (24,000) - i
Total Other Financing Sources(Uses) 249,544 243,609 (5,935) -"t
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (58,234) 573,100 $ 631,334
Fund Balance,Beginning of Year 728,612
4
Fund Balance,End of Year $ 1,301,712
4
1
See Independent Auditors'Report 19
Town of Mead, Colorado
j,_ Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Road and Bridge Fund
'For the Year Ended December 31,2003
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ 140,000 $ 148,493 $ 8,493
Use tax 20,000 58,215 38,215
Other taxes and assessments -
Licenses and permits 700 4,789 4,089
Motor vehicle registration fees 9,000 10,259 1,259
Interest
Intergovernmental 80,000 108,026 28,026
Miscellaneous revenue 100 9,507 9,407
Total Revenues 249,800 339,289 89,489
Expenditures
Cutrent Operating:
General government 10,186 5,775 4,411
Public works 297,257 314,935 (17,678)
Parks and recreation
- -
Capital Outlay 8,000 1,030 6,970
— Debt Service:
Principal payments 20,401 15,424 4,977
Interest payments 2,941 (2,941)
Total Expenditures 335,844 340,105 (4,261)
Excess of Revenues Over (Under)Expenditures (86,044) (816) 85,228
Other Financing Sources(Uses)
Issuance of long-term debt
Sale of assets 8,400 750 (7,650)
Operating transfers in 100,000 99,996 (4)
Operating transfers out
Total Other Financing Sources(Uses) 108,400 100,746 (7,654)
Excess of Revenues and Other Sources Over
'• (Under)Expenditures and Other Uses $ 22,356 99,930 $ 77,574
Fund Balance,Beginning of Year 251,793
Fund Balance,End of Year $ 351,723
Im
See Independent Auditors'Report 20
r
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Conservation Trust Fund
For the Year Ended December 31,2003
1-
Ti
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
Use tax - - -
Licenses and permits - - -
Motor vehicle registration fees - - -
Road and Bridge Tax - - - LI
Interest 164 57 (107)
Intergovernmental 16,000 20,547 4,547
Miscellaneous revenue - - - '
Total Revenues 16,164 20,604 4,440 1
1
Expenditures
Current Operating:
General government - - -
Public works - - -
t
Parks and recreation - - - —4
Capital Outlay - - -
Debt Service:
Principal payments - - -
Interest payments - - - -� ;
Total Expenditures - - -
t
Excess of Revenues Over (Under)Expenditures 16,164 20,604 4,440 1
Other Financing Sources(Uses)
Issuance of long-term debt - - -
Operating transfers in - - -
Operating transfers out (24,000) (24,000) -
Total Other Financing Sources(Uses) (24,000) (24,000) -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (7,836) (3,396) $ 4,440 -4
Fund Balance,Beginning of Year 10,428 I
Fund Balance,End of Year $ 7,032
a
1
See Independent Auditors'Report 21
Town of Mead, Colorado
I.- Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
! Park Fund
/+ For the Year Ended December 31,2003
II_
Variance
^ Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $
-
^ Use tax -
-
- $ -
Licenses and permits -
Motor vehicle registration fees - - -
^ Road and Bridge Tax
-
Interest - -
- -
-
-
Intergovernmental -
-
.. Miscellaneous revenue 1,507 1,507
Total Revenues
1,507 1,507
Expenditures
Current Operating:
General government 5,120 4,892 228
Public works
Parks and recreation 105,168 99,582 5,586
Capital Outlay 27,000 3,593 23,407
Debt Service:
II ^ .-. Principal payments -
Interest payments
Total Expenditures 137,288 108,067 29,221
Excess of Revenues Over (Under)Expenditures (137,288) (106,560) 30,728
Other Financing Sources(Uses)
-
-
Issuance of long-term debt -
Operating transfers in 111,144 111,144 -
-
Operating transfers out -
Total Other Financing Sources(Uses) 111,144 111,144 -
Excess of Revenues and Other Sources Over
^ (Under)Expenditures and Other Uses $ (26,144) 4,584 $ 30,728
i
Fund Balance,Beginning of Year 30,424
Fund Balance,End of Year $ 35,008
^
See Independent Auditors'Report
22
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Drainage Fund 11
For the Year Ended December 31, 2003
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
Use tax
nt-
Licenses and permits - - -
Motor vehicle registration fees - - -
Road and Bridge Tax - - -4
Interest - - - #
Intergovernmental - - -
Miscellaneous revenue - - -
Total Revenues - - - ^I
Expenditures
Current Operating: ^
General government - - -
Public works 36,000 14,298 21,702
Parks and recreation - - -
Contingencies - - -
Capital Outlay - - -
Debt Service: (^
Principal payments - - -
Interest payments - - -
Total Expenditures 36,000 14,298 21,702
,
Excess of Revenues Over (Under)Expenditures (36,000) (14,298) 21,702
•
Other Financing Sources(Uses)
Issuance of long-term debt - - -
Operating transfers in 30,000 30,000 -
Operating transfers out - - -
Total Other Financing Sources(Uses) 30,000 30,000 -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (6,000) 15,702 $ 21,702
Fund Balance,Beginning of Year 8,131 H
Fund Balance,End of Year $ 23,833
..,i
See Independent Auditors'Report 23
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Police Protection Fund
For the Year Ended December 31,2003
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $
Use tax _ $
Licenses and permits
Motor vehicle registration fees
Road and Bridge Tax _
Interest 33 22 (11)
Intergovernmental
r- Impact Fees 2,500 3,150 650
Miscellaneous revenue
Total Revenues 2,533 3,172 639
Expenditures
Current Operating:
General government _ _ -
Public works _
Parks and recreation _
Capital Outlay 1,000 - 1,000
Debt Service:
Principal payments
Interest payments
Total Expenditures 1,000 _ 1,000
Excess of Revenues Over (Under)Expenditures 1,533 3,172 1,639
Other Financing Sources(Uses)
Issuance of long-term debt _
Pi—
Operating transfers in
Operating transfers out
Total Other Financing Sources(Uses)
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ 1,533 3,172 $ 1,639
pai
Fund Balance,Beginning of Year 1,452
Fund Balance,End of Year $ 4,624
See Independent Auditors'Report 24
rt
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual- 1,
Municipal Facility Fund
For the Year Ended December 31,2003 j----.
Variance
Favorable
Budget Actual (Unfavorable) t
Revenues
Sales tax $ - $ - $ -
Use tax - - - -1
Licenses and permits - - -
Motor vehicle registration fees - - -
Road and Bridge Tax - - 4
Interest 1,212 1,425 213 4
Intergovernmental - - -
Impact Fees 84,850 106,911 22,061
Miscellaneous revenue - - -
Total Revenues 86,062 108,336 22,274
1
Expenditures
Current Operating:
General government - - - t
Public works - - - --,I
Parks and recreation - - -
Capital Outlay 73,300 - 73,300
Debt Service: (,_ --,1
Principal payments - - -
Interest payments - - -
Total Expenditures 73,300 - 73,300 —I
Excess of Revenues Over (Under)Expenditures 12,762 108,336 95,574
Other Financing Sources(Uses)
Issuance of long-term debt - - -
Operating transfers in - - - 1 Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over 1
_
(Under)Expenditures and Other Uses $ 12,762 108,336 $ 95,574
Fund Balance,Beginning of Year 119,455 ^I,
Fund Balance,End of Year $ 227,791
-•
—1
_1
'(
See Independent Auditors'Report 25 1
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Park System Fund
For the Year Ended December 31,2003
Variance
Favorable
Revenues Budget Actual (Unfavorable)
Sales tax -
$ $
Use tax _ $ - -
Licenses and permits _ -
Motor vehicle registration fees _ -
r- Road and Bridge Tax - -
Interest 318 210 (108)
Intergovernmental
Impact Fees 23,100 29,106 6,006
Miscellaneous revenue
Total Revenues 23,418
29,316 5,898
Expenditures
Current Operating:
General government
Public works - -
Parks and recreation -Capital Outlay 42,400 38,091 4,309
Debt Service:
Principal payments _
Interest payments
Total Expenditures 42,400 38,091 4,309
Excess of Revenues Over (Under)Expenditures (18,982) (8,775) 10,207
Other Financing Sources(Uses)
Issuance of long-term debt
Operating transfers in _ - -
Operating transfers out - -
Total Other Financing Sources(Uses)
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ (18,982) (8,775) $ 10,207
Fund Balance,Beginning of Year 19,149
Fund Balance,End of Year 10 374
See Independent Auditors'Report 26
• TI
a
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Downtown Revitalization Fund ,#
For the Year Ended December 31,2003
4 -----
7
Variance
Favorable R
Budget Actual (Unfavorable) -
Revenues
Sales tax $ - $ - $ -
Use tax _ _ -
Licenses and permits - - - I
Motor vehicle registration fees - - -
Road and Bridge Tax - - -
Interest 143 137 (6)
Intergovernmental - - -
ImpactFees 15,200 19,152 3,952 i
Miscellaneous revenue - - -
Total Revenues 15,343 19,289 3,946
Expenditures —.'
Current Operating:
General government _ - _
Public works - - - ...1
Parks and recreation - - -
Capital Outlay 20,600 - 20,600
Debt Service:
Principal payments - - -
Interest payments _ - -
Total Expenditures 20,600 - 20,600 �+
Excess of Revenues Over (Under)Expenditures (5,257) 19,289 24,546
Other Financing Sources(Uses) —1
Issuance of long-term debt - - -
Operating transfers in - - -
Operating transfers out - . _ -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over _F
(Under)Expenditures and Other Uses $ 55,257 19,289 $ 24,546
Fund Balance,Beginning of Year 9,258
Fund Balance,End of Year $ 28,547
a
See Independent Auditors'Report 27
Town of Mead, Colorado
j— Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Capital Equipment Fund
e^-, For the Year Ended December 31,2003
Variance
r Favorable
Revenues Budget Actual (Unfavorable)
Sales tax $ - $ - $ -
Use tax
- -
Licenses and permits - -
Motor vehicle registration fees -
r- Road and Bridge Tax - -
Interest 245 281 -
36
Intergovernmental
r Impact Fees 15,800 19,908 4,108
Miscellaneous revenue -
Total Revenues 16,045 20,189 4,144
Expenditures
Current Operating:
-
-
General government
Public works -
-
- -
-
Parks and recreation -
-
Capital Outlay 55,100 25,719 29,381
..--, Debt Service:
Principal payments -
3,508 (3,508)
Interest payments - 810 (810)
.- Total Expenditures 55,100 30,037 25,063
Excess of Revenues Over (Under)Expenditures (39,055) (9,848) 29,207
r
Other Financing Sources(Uses)
Issuance of long-term debt 24,000 25,719 1,719
Operating transfers in
Operating transfers out - -
- - -
Total Other Financing Sources(Uses) 24,000 25,719 1,719
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ S15,055) 15,871 $ 30,926
Fund Balance,Beginning of Year 24,469
Fund Balance,End of Year $ 40,340
r
is
See Independent Auditors'Report 28
1
i
Town of Mead, Colorado •
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual- gi
Storm Drainage Fund
For the Year Ended December 31,2003
i
Variance
Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
Use tax - - -
Licenses and permits - - -
Motor vehicle registration fees - - -
Road and Bridge Tax - -
Interest 197 215 18
Intergovernmental - - -
Impact Fees 6,550 8,253 1,703
Miscellaneous revenue - -
1
Total Revenues 6,747 8,468 1,721
Expenditures H
Current Operating:
General government - - - )
Public works - - - ^S
Parks and recreation - - -
Capital Outlay 15,300 - 15,300
Debt Service:
Principal payments - - -
Interest payments - - -
Total Expenditures 15,300 - 15,300 ^4
i
Excess of Revenues Over (Under)Expenditures (8,553) 8,468 17,021
Other Financing Sources(Uses) _f
Issuance of long-term debt - - -
Operating transfers in - - - -1
Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over —,
(Under)Expenditures and Other Uses $ (8,553) 8,468 $ 17,021
Fund Balance,Beginning of Year 19,925
Fund Balance,End of Year $ 28,393
a
See Independent Auditors'Report 29 .
Town of Mead, Colorado
L- Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Transportation Fund
For the Year Ended December 31,2003
Variance
r Favorable
Revenues Budget Actual (Unfavorable)
Sales tax $ $
"— Use tax - -
- - -
Licenses and permits - -
-
-
Motor vehicle registration fees - -
- -
Road and Bridge Tax
Interest 1,020 1,086 66
- -
Intergovernmental
-
►- Impact Fees 67,500 85,050 17,550
- -
Miscellaneous revenue
-
Total Revenues 68,520 86,136 - 17,616
Expenditures
Current Operating:
-
-
.. General government
-
Public works - 865 (865)
Parks and recreation - -
-
Capital Outlay
'�^ Debt Service: 52,550 52,550
Principal payments --
Interest payments - - -
Total Expenditures 52,550 865 51,685
Excess of Revenues Over (Under)Expenditures 15,970 85,271 69,301
Other Financing Sources(Uses)
Issuance of long-term debt -
!1 ,,, Operating transfers in - -
-
Operating transfers out --
-
-
-
Total Other Financing Sources(Uses) -
•
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ 15,970 85,271 $ 69,301
Fund Balance,Beginning of Year 89,975
Fund Balance,End of Year $ 175,246
p
See Independent Auditors'Report 30
• sa
Town of Mead, Colorado.
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Open Space Fund 1
For the Year Ended December 31,2003 ^.
LI
Variance
Favorable
Budget Actual (Unfavorable) a
Revenues
Sales tax $ - $ - $ - ,
Use tax - - - --
Licenses and permits - - -
Motor vehicle registration fees - - -
Road and Bridge Tax - - - _al
Interest 1,325 1,557 232 t
Intergovernmental - - -
Impact Fees 92,600 116,676 24,076 ^
Miscellaneous revenue - - - 1
Total Revenues 93,925 118,233 24,308
1
Expenditures
Current Operating:
General government - - -
Public works - - - H
Parks and recreation - - -
Capital Outlay 174,600 - 174,600 1
Debt Service: (� ^{
Principal payments - - -
Interest payments - - -
Total Expenditures 174,600 - 174,600
Excess of Revenues Over (Under)Expenditures (80,675) 118,233 198,908
Other Financing Sources(Uses)
Issuance of long-term debt - - -
Operating transfers in - - -
Operating transfers out - - - ^',
Total Other Financing Sources(Uses) - - -
Excess of Revenues.and Other Sources Over
(Under)Expenditures and Other Uses $ (80,675) 118,233 $ 198,908
Fund Balance,Beginning of Year 130,512 —i
Fund Balance,End of Year $ 248,745
^1
^f
See Independent Auditors'Report 31 1,
r
Town of Mead, Colorado
Statement of Revenues,Expenditures,and Changes in Fund Balance-Budget and Actual-
Recreation Center Fund
f^ For the Year Ended December 31,2003
lo—
Variance
r Favorable
Budget Actual (Unfavorable)
Revenues
Sales tax $ - $ - $ -
r" Use tax - - -
Licenses and permits - - -
Motor vehicle registration fees - - -
r— Road and Bridge Tax - - -
Interest 147 386 239
Intergovernmental - - -
.. Impact Fees 84,150 106,029 21,879
Miscellaneous revenue - - -
Total Revenues 84,297 106,415 22,118
1,
Expenditures
Current Operating:
General government - - -
ot—
Public works - _ -
Parks and recreation - - -
Capital Outlay 26,650 - 26,650
.-. Debt Service:
Principal payments - - -
Interest payments - - -
Total Expenditures 26,650 - 26,650
Excess of Revenues Over (Under)Expenditures 57,647 106,415 48,768
Other Financing Sources(Uses)
Issuance of long-term debt - - -
1 Operating transfers in -
Operating transfers out - - -
Total Other Financing Sources(Uses) - - -
Excess of Revenues and Other Sources Over
(Under)Expenditures and Other Uses $ 57,647 106,415 $ 48,768
Fund Balance,Beginning of Year 13,641
Fund Balance,End of Year $ 120,056
iii
Nos
See Independent Auditors'Report 32
Town of Mead, Colorado
Combining Balance Sheet
Enterprise Funds
December 31,2003
i^.
Sewer
Water Fund Fund Total
Assets
Cash and cash equivalents $ - $ 483,695 $ 483,695
Cash-restricted - - -
Accounts receivable - 11,404 11,404 LI
Due from other governments - - -
Property tax receivable - - - � E
Inventory - - - �..f
Prepaid insurance - 15,466 15,466 {
Total Current Assets - 510,565 510,565
3
Property,Plant and Equipment -.i
Land - 40,039 40,039
Water rights - - - }
Treatment facilities,lines,and other equipment - 615,485 615,485 ^€
655,524 655,524
Less accumulated depreciation - (189,343) (189,343) --INet Property,Plant And Equipment - 466;181 466,181
Total Assets $ - $ 976,746 $ 976,746
I
Liabilities and Fund Equity (^
Liabilities:
Current Liabilities:
Accounts payable $ - $ 11,330 $ 11,330 —
Due to other funds - - -
Current portion of long-term debt - - - 1
Deferred revenue - - -
Accrued liabilities - 801 801 }
Total Current Liabilities - 12,131 12,131
Long-term Liabilities: ��
Bonds payable-net of current portion and discount - - -
Leases and notes payable - - - —
Total Long-term Liabilities - - -
Fund Equity:
Contributed capital - - -
Retained earnings - 964,615 964,615
Total Fund Equity - 964,615 964,615
Total Liabilities and Fund Equity $ - $ 976,746 $ 976,746
See Independent Auditors'Report 33
r
Town of Mead, Colorado
r Combining Statement of Revenue,Expenses,and Changes in Retained Earnings
Enterprise Funds
''For the Year Ended December 31,2003
Sewer
Water Fund Fund Total
P. Operating Revenues
Operating income $ - $ 95,276 $ 95,276
Total Operating Revenues -
95,276 95,276
P"
Operating Expenses
Administration -
24,579 24,579
^ System operating expenses -
73,994 73,994
Depreciation and amortization -
33,659 33,659
Total Operating Expenses -
132,232 132,232
Operating Income(Loss) -
(36,956) (36,956)
Nonoperating Revenue(Expenses)
Interest 1,466 1,900 3,366
Taxes
-
Interest expense - - -
Engineering
Other - (11,279) (11,279)
.-� - -
Total Nonoperating Revenues(Expenses) 1,466 (9,379) (7,913)
Income(Loss)Before Contributions,Transfers and
^ Extraordinary Item 1,466 (46,335) (44,869)
Contributions-Tap Fees 430,000 430,000
•— Transfers out (20,899) - (20,899)
Income(Loss)Before Prior Period Adjustment and
Extraordinary Item (19,433) 383,665 364,232
• Prior period adjustment -
180,708 180,708
Extraordinary item-transfer of water fund to Little Thompson
Water District (396,935) - (396,935)
Change in Retained Earnings (416,368) 564,373 148,005
^ Retained Earnings,Beginning of Year 416,368 400,242 816,610
^ Retained Earnings,End of Year $ - $ 964,615 $ 964,615
..
See Independent Auditors'Report 34
Town of Mead, Colorado
Combining Statement of Cash Flows
Enterprise Funds
For the Year Ended December 31,2003 t
Sewer
Water Fund Fund Total
Cash Flows from Operating Activities
Operating income(loss) $ - $ (36,956) $ (36,956) -
Adjustments to reconcile net operating income
to net cash provided by operating activities:
Deprecation and amortization - 33,659 33,659 —1
(Increase)decrease in accounts receivable - (1,632) (1,632) J
(Increase)decrease in prepaid expenses - (11,168) (11,168)
Increase(decrease)in accounts payable (1,269) 7,442 6,173 ^1
Increase(decrease)in accrued liabilities - 15 15
Net Cash Provided by(Used In) Operating Activities (1,269) (8,640) (9,909) --I
Cash Flows From Noncapital Financing Activities
Tax revenue - - -
Payment to users (417,834). - (417,834) —'
Net Cash Provided by(Used In)Noncapital Financing Activities (417,834) - (417,834)
Cash Flows From Capital and Related Financing Activities
Tap fees - 430,000 430,000
Payment for capital acquisitions - (13,910) (13,910) (" _
Principal paid on long-term debt -
Interest paid on long-term debt - - -
Net Cash Used For Capital and Related Financing Activities - 416,090 416,090
Cash Flows From Investing Activities
Interest on investments 1,466 1,900 3,366
Other - (11,279) (11,279)
1
Net Cash Provided by(Used In)Investing Activities 1,466 (9,379) (7,913) —
Net Increase(Decrease) in Cash (417,637) 398,071 (19,566)
..
Cash,Beginning of Year 417,637 85,624 503,261
Cash,End of Year $ - $ 483,695 $ 483,695
1.
i
See Independent Auditors'Report
35 ^'
it
Town of Mead, Colorado
Budget to Actual Comparisons
1
Water Fund
For the Year Ended December 31,2003
r Water Fund
Variance
Favorable
Budget Actual (Unfavorable)
Sources
Charges for services $ - $ - $ -
r— Interest - 1,466 1,466
Tap fees - - -
Debt proceeds - - -
r. Property taxes - - -
Other - - -
Total Sources - 1,466 1,466
Uses
Administration - - -
r Operating expenses - - -
Capital outlay -
Debt retirement - - -
r Interest expense - - -
.-� Payments to users - 417,834
Treasurer's commissions - - -
.. Total Uses 417,834 -
Excess(Deficiency)of Sources Over Uses $ - (416,368) $ 1,466
Reconciliation to Financial Statement Net Income
Depreciation and amortization -
a Loss on disposal of fixed assets -
Principal payments on debt -
Capital outlay -
Net Income(Loss)Financial Statement Basis $ (416,368)
See Independent Auditors'Report 36
1
Town of Mead, Colorado 19
j--4
Budget to Actual Comparisons
Sewer Fund `t
For the Year Ended December 31,2003
Sewer Fund
Variance
Favorable
Budget Actual (Unfavorable)
Sources
Charges for services $ 93,000 $ 95,276 $ 2,276
Interest 2,464 1,900 (564)
Tap fees 150,000 430,000 280,000
Debt proceeds -
Property taxes - - - ��
Other - -
Total Sources 245,464 527,176 281,712
Uses i
Administration 19,554 24,579 (5,025)
Operating expenses 89,447 73,994 15,453
Capital outlay 60,000 13,910 46,090
Engineering 65,000 11,279 53,721
Debt retirement - - -
Equipment lease 500 - 500 ( 1
Treasurer's commissions - -
Total Uses 234,501 123,762 110,739
Excess(Deficiency)of Sources Over Uses $ 10,963 403,414 $ 170,973 _1
Reconciliation to Financial Statement Net Income
Depreciation and amortization (33,659)
Loss.on disposal of fixed assets -
Capital outlay 13,910 ^1
Net Income(Loss)Financial Statement Basis $ 383,665
i
Sec Independent Auditors'Report 37 —
Thepublic Form Approved
report burden for this information collection is estimated to average 380 hours annually. OMB No.2125-0032
1. .. City or County:
LOCAL HIGHWAY FINANCE REPORT Town of Mead
( YEAR ENDING
.as Information From The Records Of(example-City of_or County of Prepared By: Shirley Wergen
December 31, 003
Town of Mead Phone: (970)535-4477
I. DISPOSITION OF HIGHWAY-USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE
r 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. To • receipts avai able
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 hr wa .0 asses
II. RECEIPTS FOR ROAD AND STREET PURPOSES III. DISBURSEMENTS FOR ROAD
ITEM AND STREET PURPOSES
AMOUNT ITEM AMOUNT
r A. Receipts from local sources: A. Local highway disbursements:
1. Local highway-user taxes 1. Capital outlay(from page 2) 157,005
a. Motor Fuel (from Item I.A.5.) 2. Maintenance:
b. Motor Vehicle(from Item I.B.5.) 3. Road and street services:
c. Totala.+b.) - a. Traffic control operations 3,177
2. General fund appropriations 99 996 b. Snow and ice removal 4,231
3. Other local imposts(from pa&�e 2) 230,877 c. Other 18,413
r , 4. Miscellaneous local receipts(from page 2) 15,046 d. Total (a.through c.) 25,821
5. Transfers from toll facilities 4. General administration&miscellaneous 107,412
6. Proceeds of sale of bonds and notes: 5. Highway law enforcement and safety
a. Bonds-Original Issues 6. Total (1 through 5) 320 130
,..^� 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) 345,919 b. Redemption
r B. Private Contributions c. Total a.+b. 0
C. Receipts from State government 2. Notes:
(from page 2)_ 79 444 a. Interest 2,941
D. Receipts from Federal Government b. Redemption 15,424
— (from page 2) 0 c. Total(a.+b.) 18,365
i E. 'total recei.ts(A.7+B+C+D) 425,363 3. Total (I.c+2.c 18,365
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements(A.6+B.3+C+D) 338,495
IV. LOCAL HIGHWAY DEBT STATUS
(Show all entries at par)
.- Opening.Debt Amount Issued Redemptions Closing Debt
A. Bonds Total 0
1. :.n. .e . n: 'erh.n
1. `o es oa
V. LOCAL ROAD AND STREET FUND BALANCE
A.Beginning Balance B.Total Receipts .Total Disbursements' D.Ending Balance E.Reconciliation
251,793 425,363 J 338,495 338,661 0
Notes and Comments:
r.
AM FHWA-536(Rev.01-04) PREVIOUS EDITIONS OBSOLETE (Next Page)
1
- See Independent Auditors'Report 38
STATE:
Colorado
LOCAL HIGHWAY FINANCE REPORT YEAR ENDING(mm/yy):
December 31 2003
II. RECEIPTS FOR ROAD AND STREET PURPOSES-DETAIL C....4
ITEM AMOUNT ITEM AMOUNT 1
A.3. Other local im.osts: A.4. M I1: ' • I I r :1
a. Property Taxes an. Assesments a. Interest on investments -
b. Other local imposts: —_ b. Other 10,257 t 1. Sales Taxes 199,738 c.Transfers
2. Traffic Fines d. Capital Credits
3. S cific Ownershi Tax e. Sale of Assets _j
f. Fees/Licenses/Permits 4,789 Il
5. rom Ctti Counties 31,139 g. Service Performed
6. Total(1.through 5.) 23077 h. Refunds of E . .ditures
c. Total a.+b. 230 877 i. Total a.throu• . h. 15 046
1 C forward to 1
ITEM AMOUNT ITEM AMOUNTLI
C. Recei its from State Government D. Recei.is from Federal Governmen i
1. Ill!inEirCraMME 69 185 1. FHW . rm Item I.1.5.
2. State gene • .s 2. • erF-'er• agencies:
3. Other State funds: a. Forest Service Li
a. State bond proceeds b. FEMA
b. Project Match c. HUD
c. Motor Vehicle Registration 10,259 d. Mineral Leasing ^.q
d. (Specify) e. Pay Lieu of Tax 1t
e. (Specify) f. Other Federal
f. Total(a.throu_ e.) 10,259 g. Total(a.through f.) 0
4. Total 1.+2.+3. 79 444 3. Total 1.+2.L "?
i
M. DISBURSEMENTS FOR ROAD AND STREET PURPOSES-DETAIL
ON NATIONAL OFF NATIONAL 11
HIGHWAY HIGHWAY TOTAL
SYSTEM SYSTEM I
miiiiomauiI......m.
A.1. Capital outlay:
a. Right-Of-Way Costs 0
b. Engineering Costs 17 717 17 717 •c. Construction:
1). Capacity Improvements 110 295 110 295
2). System Preservation 27,437 27,437
3). Safety And Other 1,556 1 556 _i
4i. Total Construction(1)+(2)-f(3) 139 288 0 139,88 J
d. Total Capital Outlay(Lines l.a.+ 1. .+ 1.c.4) 157 005 0 157 5
(C forward to 1
)Notes and Comments:
—
FORM FHWA-536(Rev.1-04) PREVIOUS EDITIONS OBSOLETE
2
See Independent Auditors'Report 39
1
Hello