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Home My WebLink About20041851.tiff COMPREHENSIVE ANN UAL INANCI REPORT , , ,-mom` t .. } 4 rte x.a a 2i vEER'` 'a{' n, ' xs �* h k 3„µms l', 'yy, x iF sas 4 L pL4..,f a-" y' . ;y' L _4V ^'�+k A„w.M 4 '': � x tx �gj4w, ,,, !; & FY �.1�• �, '� ' .:k q,- Sf#s.; .w^' k, � � • d *44. 4* -' Parr. a .�3' j*. l r ,.. ... �y2 :1,," i $p r fit° :.-I...,, .-.4;;',,,. '- t 6� a C F'3ti.-if 44:',-J,.� i H «+ ` k r „,:p.43`;',,,.- yrx,.; ' " • ti. '1 % ar .i .P. `@ `. " "i ,n r `za x " +� — se+r. 'p r'. o xa ... taz 4' r?e.- t. a " a °�'w f � ` 7 /{� Klp +s Y t A)trFSf" t •^ `p` ^d) µ i �a'" �C' "i'J N,AO di w ei �iwe yg k ''-1, 1-1-;;;.7.4,1; 1 >a xr -4. w -x k. 4 k' Y ! : F T a9� . :s, '* v r,., ? ,k s3` .,'t'4.(a^;!---"''‘'..11.4. '11 v' '...,:' ,.";...,....\.. '. /t. e .s. .» .-:., t ,lic' a M k ,, by ""'"'1/4 Yry k le:: e yi S ,. $�'d f C i' ' +�e,."°^, J-.- u,a".ya k 2004-1851 i r r ' naiDUCrct SEC11014 WiYYc COLORADO TABLE OF CONTENTS INTRODUCTORY SECTION Table of Contents i Letter of Transmittal 1 Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting 8 Organization Chart 9 Principal County Officials 10 FINANCIAL SECTION Independent Auditors'Report 11 Management's Discussion and Analysis 13 Basic Financial Statements Government-Wide Financial Statements: Statement of Net Assets 23 Statement of Activities 24 Governmental Fund Financial Statements: Balance Sheet 26 Reconciliation of Total Governmental Fund Balances to the Statement of Net Assets 28 Statement of Revenues,Expenditures and Changes in Fund Balance 30 Reconciliation of the Statement of Revenues,Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 32 Proprietary Fund Financial Statements: Statement of Net Assets-Proprietary Funds 33 Statement of Revenues, Expenses and Changes in Net Assets- Proprietary Funds 34 Statement of Cash Flows -Proprietary Funds 35 Fiduciary Fund Financial Statements: Statement of Fiduciary Net Assets 36 Statement of Changes in Fiduciary Net Assets 37 Notes to the Financial Statements 38 Required Supplementary Information Pension Trust 63 Modified Approach for Infrastructure Assets 64 i Required Supplementary Information Other Than MD&A: Schedules of Revenues, Expenditures and Changes in Fund Balances-Actual and Budget Major Funds: General Fund 65 Public Works Fund 70 Social Services Fund 72 Human Services Fund 74 Supplemental Information: Combining Statement of Non-major Governmental Funds: Combining Balance Sheet 82 Combining Statement of Revenues, Expenditures and Changes in Fund Balance 84 Schedules of Revenues,Expenditures and Changes in Fund Balances-Actual and Budget Non-major Governmental Funds: Special Revenue Funds: Capital Expenditures Fund 86 Conservation Trust Fund 87 Contingent Fund 88 Emergency Fund 89 Public Health Fund 90 Solid Waste Fund 91 Bebee Draw Fund 92 Component Units: Housing Authority 93 E-911 Authority Fund 94 Local Highway Finance Report 96 Combining Statements of Internal Service Funds: Combining Statement of Net Assets-Internal Service Funds 98 Combining Statement of Revenues, Expenses and Changes in Net Assets -Internal Service Funds 100 Combining Statement of Cash Flows -Internal Service Funds 102 Combining Statement of Fiduciary Funds: Combining Statement of Changes in Assets and Liabilities -Fiduciary Funds 104 ii Schedule of Revenues,Expenses and Changes in Fund Equity-Actual and Budget Enterprise Fund and Internal Service Funds: Enterprise Fund: Paramedic Services 105 Internal Service Funds: Motor Vehicle Fund 106 Health Insurance Fund 107 Insurance Fund 108 Phone Service Fund 109 Weld Finance Corporation 110 STATISTICAL SECTION Tables Relating to Bonded Debt 111 General Governmental Expenditures by Function Government-Wide Expenses by Function 112 General Governmental Revenue by Source Government-Wide Revenues 114 Property Value,Construction,Bank Deposits and Other Economic Indicators 116 Property Tax Levies and Collections 117 Assessed and Estimated Actual Value of Property 117 Property Tax Levies-Direct and Overlapping Governments 118 Special Assessment Collections 119 Computation of Legal Debt Margin 120 Demographic Statistics 121 Principal Taxpayers 122 Miscellaneous Statistics 123 Insurance in Force 125 Salaries of Principal Officials 126 Surety Bond Coverage for Principal Officials 126 Private Purpose Revenue Bonds 127 Computation of Overlapping Bonded Debt-General Obligation Bonds 128 SINGLE AUDIT Independent Auditors'Report on Schedule of Expenditures of Expenditures of Federal Awards 129 Schedule of Findings and Questioned Costs 130 Summary Schedule of Prior Audit Findings 131 Schedule of Expenditures of Federal Awards 133 Notes to Schedule of Expenditures of Federal Awards 138 Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Governmental Auditing Standards 139 Report on Compliance with Requirements Applicable to Each Major Program and Internal Control over Compliance in Accordance with OMB Circular A-133 141 iii 3011310 ti;Sit DEPARTMENT OF FINANCE AND ADMINISTRATION PHONE (970) 356-4000, EXT.4218 FAX: (970) 352-0242 C. P.O. BOX 758 8 GREELEY, COLORADO 80632 COLORADO June 1, 2004 Honorable Board of Commissioners County of Weld 915 10th Street Greeley, CO 80631 Dear Board Members: The Comprehensive Annual Financial Report of the County of Weld, State of Colorado for the fiscal year ended December 31, 2003, is hereby submitted. Responsibility for both the accuracy of the data,and the completeness and fairness of the presentation, including all disclosures,rests with the County. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds and account groups of the County. All disclosures necessary to enable the reader to gain an understanding of the County's financial activities have been included. With the December 31,2003 financial statements,Weld County has elected to continue a significant change in government financial reporting. The purpose of these changes,which were developed by the Governmental Accounting Standards Board (GASB), is to provide better and more complete information to the users of governmental financial statements. In addition to changes to the basic financial statements, the statements are now accompanied by an introduction, overview, and analysis, referred to as"Management's Discussion and Analysis"(MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The MD&A can be found in the Financial Section immediately following the independent auditor's report. The County provides the full range of county services contemplated by statute or charter. These include general government functions, public protection and safety, health, social services, human resource services, public improvements, road and bridge operations, planning and zoning, and general administrative services. This report includes all activities for which the Board of County Commissioners is accountable to the citizens of Weld County,financially,or by State Statute or the Weld County Home Rule Charter. All applicable funds,departments, and offices are included in these financial statements as part of the 'primary government" of Weld County. In addition, there are several legally separate entities that have significant operational or financial relationships with the County. These include the Weld County Housing Authority,Weld County Retirement Plan,Beebe Draw Law Enforcement Authority, Weld County Finance Corporation, and E-911 Authority. These entities are also included in the County's financial statements. 1 Honorable Board of Commissioners INDEPENDENT AUDIT Colorado law requires that the County's financial statements be audited by an independent certified public accountant or firm of certified public accountants licensed to practice in the State of Colorado. The county's financial statements have been audited by Anderson and Whitney, P.C., a Colorado licensed Certified Public Accounting firm. The goal of the independent audit was to provide reasonable assurance that the financial statements are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit,that there was a reasonable basis for issuing an unqualified opinion that the County's financial statements for the year ended December 31,2003, are fairly presented in conformity with GAAP. The independent auditor's report is presented in the front of the financial section of this report. The independent audit of the County's financial statements was part of a broader, federally mandated "Single Audit" in accordance with provisions of the Single Audit Act of 1984, Federal Single Audit Amendment of 1996, and U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. The"Single Audit"is designed to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government's internal controls and compliance with legal requirements, especially as they relate to the administration of federal awards. Single audit schedules and the auditor's reports are available in the "Single Audit" section of the document. PROFILE OF WELD COUNTY Location and demographics. Weld County is located along Colorado's front range in the northern part of the state. Weld County covers an area of 3,999 square miles in north central Colorado. It is bordered on the north by Wyoming and Nebraska and on the south by the Denver metropolitan area. The third largest county in Colorado, Weld County has an area greater than that of Rhode Island, Delaware and the District of Columbia combined. The climate is dry and generally mild with warm summers, mild winters and a growing season of approximately 138 days. The land surface is fairly level in the east,with rolling prairies and low hills near the western border. Elevations in the county range from 4,400 to 5,000 feet. The South Platte River and its tributaries, the Cache la Poudre, Big Thompson, Little Thompson, Boulder, St. Vrain, and other smaller streams, flow into Weld County from the south and west, leaving the county on the east. There are 31 incorporated towns in Weld County. The county seat and principal city, Greeley, is located in the west central part of the county and contains almost half the county's population. Generally, most of the remaining population resides within a 20 to 30 mile radius of Greeley; the northeastern part of the county is sparsely populated. Southwest Weld County is one of the fastest growing areas in the state due to its proximity to the north Denver metro area. The county's population in 2003 was approximately 202,000. 2 Honorable Board of Commissioners COUNTY GOVERNMENT County Services. Weld County provides the full range of services contemplated by State Statute and the Weld County Home Rule Charter. Services include: • Judicial and public safety - - consisting of the Sheriff, District Attorney, operation and maintenance of the detention center, and building inspection. • Health, employment, and social services. • Planning and zoning. • Construction, reconstruction and maintenance of streets, highways, and bridges. • Parks and recreation. • Property valuation, tax collection and distribution, and vehicle licensing. • General administrative services. County Operating Structure. Weld County became Colorado's first Home Rule County in 1976. The County is governed by a five-member Board of County Commissioners. Three Commissioners are elected by districts of relatively equal population and two Commissioners are elected at large. They serve staggered four-year terms and function as the County's policymaking body. Each Commissioner coordinates one of five functions of the County. The County is also served by four other elected officials: assessor, clerk and recorder,district attorney, and sheriff. Weld County also has a five-member, non-partisan, elected body that is charged to review all aspects of County government and to make periodic written reports to the public. The Commissioners appoint department heads to be responsible for the various day-to-day operations. Budgeting. The County Commissioners annually adopt budgets by department for all governmental and proprietary funds. Budgets are controlled by the major object categories of Personnel, Operating Costs, and Capital Outlay. Control is maintained by the three categories at the division/department level in the General Fund and at the fund level in all other funds. Supplemental appropriations are approved by the Board of County Commissioners as needed during the year to provide for those items that were unknown or unforeseen at the time the budget was originally adopted. County Employment. Weld County government employs 1,050 regular staff (those receiving standard benefits) and 200 temporary and seasonal employees. Employees receive a comprehensive compensation package, typical of municipal and county governments along the Colorado front range. Benefits include paid leave, medical and dental insurance plans, a defined benefit retirement plan, and a variety of other insurance and non-insurance benefits. MAJOR INITIATIVES For the Year. In 2003, the Board identified a number of significant program changes to enhance service delivery to the citizens of Weld County. The following is a summary of significant program changes and initiatives for 2003: 3 Honorable Board of Commissioners > Staff the new jail for opening at the beginning of fiscal year 2004. > Complete the construction of a new 226-bed jail expansion. > Cope with the continued growth and development in the county. > Continue development of a geographic information system (GIS). > Enhance services at the Southwest Weld County Administration Building. > Implement strategic transportation system to accommodate growth in county's urbanized areas and use of the transportation impact fees. > Continue benchmark efforts for county services. > Continue document imaging process in county departments. > Identify technology uses to improve services and cost-effectiveness of services. > Enhance public relations and communication efforts with constituents. > Implement Final Phase of the 800 MHZ radio system. > Continue implementation of e-gov strategy. > Open new Public Safety Administration Building. > Transition Treasurer's and Coroner's offices from elected officials to appointed department heads. > Remodel Courthouse and Centennial Complex to accommodate two additional judges. > Upgrade the criminal justice information and computer-aided dispatch system (Tiburon). > Develop a program to respond to the West Nile virus. > Upgrade Health lab to deal with bioterrorism threat. FACTORS AFFECTING FINANCIAL CONDITION Economic Conditions and Outlook. As one looks forward to 2004, one hopes the anemic economic recovery becomes more robust and stable. There are signs of encouragement in the economy as corporate profits are beginning to improve,along with the equity markets. The principal restraint on the national economy is the uncertainty from the geopolitical situations in the world,and threat of terrorism worldwide. Rising costs are another threat to recovery since businesses have little pricing power, so rising prices cut directly into profits. 4 Honorable Board of Commissioners Another risk to national economy in 2004 is a protracted lull in economic activity. This would occur if businesses do not believe the tentative national economic expansion is sustainable, and thus,they hold off implementing hiring and investment. Finally, falling consumer confidence could translate into a decline in consumer spending. Consumer spending has been the primary source of strength in the economy over the past two years. A substantial decline in consumption would likely push the economy back into recession. The Colorado economy is showing renewed growth as the national economy rebounds. There are still areas of weakness in the Colorado economy-manufacturing, transportation, and advanced technology-mirroring the areas of weakness in the national economy. And like the national economy, it appears the worst is behind us. Nonetheless, the robust growth of the 1990's is not expected to resume anytime soon. The main risk to the Colorado and Weld County's economy is that the national economy will not resume robust growth in the near term. Colorado's recovery will follow the national recovery. Thus, a delay in the national recovery will likely mean a delay in the Colorado recovery. Evidence that the Colorado economy is turning toward expansion is fivefold. First, employment levels are improving, as unemployment declines. Second, the necessary correction in the residential housing market has occurred as inventories have been lowered. Third,vacant office and commercial space has provided opportunities for companies to lower costs. Fourth, the state's defense sector is benefiting from the increased federal spending on defense due to terrorism and the conflict in Iraq. Finally, the pace of decline in retail sales is abating, and tourism activity is expanding in Colorado. Overall,the recent declines in the Colorado economy will improve the state's competitive advantage by lowering the cost of living and doing business, thus initiating future economic growth. In the long term, Colorado's and Weld County's economies have the necessary components in place for expansion. Weld County is centrally located, has a workforce with a strong work ethic, a highly educated workforce, reasonable cost of living, and a great quality of life. These reasons will lead enterprising companies to relocate here as the national economy strengthens. For the Future. In response to the budget problems at the state, Weld County took a long term view when examining the county's budget in 2004, and expanded the budgetary horizon beyond 2007-2008, when the state's budgetary ship may finally be righted. This called for a thorough examination of all county programs and what priority they have in the big picture of providing essential services to the citizens of Weld County in the next five years and beyond. All programs were reviewed in the 2004 budget process to achieve a continued level of efficiency in the county. The 2004 budget was one of the more difficult budgets to prepare in over fifteen years for Weld County and other local governments in the State of Colorado. As the State of Colorado struggles with its own major budgetary problems, it becomes very evident that Weld County, even though it has managed its financial affairs in a responsible manner for years, is still a sub-division of the state and is tremendously impacted by the state's budget woes. The State of Colorado's budget problems are the combination of"perfect storm"fiscal impacts that have come together in the last two years. The national recession has caused an economic downturn in the state that has resulted in higher unemployment, a decline in sales taxes due to job losses and decline in tourism after September 11`h, and a drop in corporate and individual income tax revenues,especially the income tax revenue due to dramatic drops in taxable capital gains and flat wage growth due to corporate cutbacks in the technology, telecommunications, and tourism 5 Honorable Board of Commissioners industries. After running TABOR surpluses in the late 1990's that resulted in tax refunds to taxpayers, the permanent reductions in the state's sales and income tax rates are coming back to haunt the state under the TABOR Amendment that requires voter approval to raise the rates again. In addition, TABOR's revenue limits that have dropped in bad economic times will take four or five years to regain the levels of two years ago. So the state's budget woes will be with us at least until 2007-2008. Although the financial health of Weld County government is currently excellent,it is important to look to the future issues, possible problems and alternative solutions to those problems. Besides the traditional role of budgeting to responsibly manage available current year funding, there must be continued emphasis on long-term planning, recognition of the cumulative effects of individual decisions, an awareness of changing realities, flexibility to citizen input in setting priorities, and a focus of goals and objectives consistent with the core services philosophy and mission statement of Weld County. Looking into the future for the next few years, Weld County is going to be plagued by the state's budget problems and the federal deficit. That will both require the county to solve problems at the local level with local resources and not rely upon the state and federal government for help. The county must pay close attention to what is going on at the state and federal levels with the state's budget problems, the re-authorization of TANF, welfare funding allocations, homeland security issues, Medicare and Medicaid funding, and other legislative changes that could impact county governments. Growth in the county continues to put pressure on county services in all areas. The county's transportation system has been significantly impacted as traffic congestion increases in many areas of the county due to pure traffic volume. Increased investment in the county's transportation infrastructure will be required over the next several years. The growth not only impacts the transportation system, but also impacts the criminal justice system, land use planning, and human services. All these new demands come at a time when public resources are limited and the taxpayers'wish to limit the size of government and tax revenues. In light of this political and fiscal environment,Weld County must respond with new and creative ways to deal with these issues that are satisfactory to the citizens and maintains the high quality of life they are accustomed to having in Weld County. Pension Trust Fund Operations. Weld County sponsors a defined benefit pension plan for its employees. Each year,an independent actuary engaged by the pension plan calculates the amount of the annual contribution that Weld County must make to the pension plan to ensure that the plan will be able to fully meet its obligations to retired employees on a timely basis. As a matter of policy Weld County fully funds each year's annual required contribution to the pension plan as determined by the actuary. As a result of Weld County's conservative funding policy, Weld County has succeeded as of December 31, 2002, in funding 86.6 percent of the present value of the projected benefits earned by employees. The remaining unfunded amount is being systematically funded over 30 years as part of the annual required contribution calculated by the actuary. Cash Management. Cash temporarily idle during the year was invested in time deposits ranging up to 180 days to maturity. Interest earned on investments of cash held by the County Treasurer was recorded as revenue in the General Fund, with the exception of interest attributed to the other specified funds, and the interest earned on certain deposits held for other taxing authorities. The amount of interest earned was $1,663,609 in 2003. 6 Honorable Board of Commissioners The County's investment policy is to minimize credit and market risks while maintaining a competitive yield on its portfolio. Accordingly, deposits are either insured by federal depository insurance or collateralized. All collateral on deposits was held either by the County, its agent or a financial institution's trust department in the County's name. All investments held by the County during the year and at December 31, 2003, are classified in the category of lowest credit risk as defined by the Governmental Accounting Standards Board,except for mutual funds and investment pools which cannot be categorized. Risk Management. During 2003 Weld County continued to be a member of Colorado Counties Casualty and Property Pool. The pool offers full safety and risk management programs to minimize losses, together with 57 other Colorado counties. Effective January 1, 1992,Weld County became self-insured under a State permit for workers' compensation. AWARDS AND ACKNOWLEDGEMENTS The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the County for its Comprehensive Annual Financial Report for the fiscal year ended December 31, 2002. This was the twenty-first year that the County has received this prestigious award. In order to be awarded a Certificate of Achievement, the County published an easily readable and efficiently organized Comprehensive Annual Financial Report. This report satisfied both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current Comprehensive Annual Financial Report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. In addition, the County also received the GFOA's Award for Distinguished Budget Presentation for its 2004 annual appropriated budget for the eighteenth consecutive year. In order to qualify for the Distinguished Budget Presentation Award, the County's budget document was judged to be proficient in several categories including policy documentation,financial planning,and organization. Financial reports are valuable in that they provide a permanent historical record of a governmental agency's operation to the management and the general public. It is our belief that this is a comprehensive report of the 2003 financial transactions under our control and that the following statements present an accurate, informative record of the financial activities of the County of Weld and its financial condition at December 31, 2003. The preparation of this report could not be accomplished without the efficient and dedicated services of the entire staff of the Accounting/Finance Department. I should like to express my appreciation to all members of the department who assisted and contributed to its preparation. I would also like to thank the members of the Board of County Commissioners for their interest and support in planning and conducting financial operations of the County in a responsible and progressive manner. Respectfully/tte d,� Donald D. Warden, Director Finance and Administration 7 Certificate of Achievement for Excellence in Financial Reporting Presented to County of Weld, Colorado For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 2002 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports(CAFRs)achieve the highest standards in government accounting and financial reporting. tt uMRO SI�RS� F Lip X11' President s �Ssiig+ ,s 4;6t Executive Director 8 1 WELD COUNTY HOME RULE GOVERNMENT (COUNTY CITIZENS) [WELD COUNTY COUNCIL [Board of County Commissioners ioners < Assessor County Attorney) (5 Elected Members) (5 Elected Members) I I I I I Sheriff Department of ( Department of Department of Department of Corrections p Department of Law Enforcement Finance, Central ' Public Health and Planning Public Animal Control Purchasing, and Environment Services Works Human Forensic Lab Personnel Services Task Force Commissioner Commissioner Commissioner Code Enforcement Commissioner Emergency Management Commissioner Coordinator Coordinator Coordinator Coordinator Coordinator t I I 1 1/4O I Health Director Planning Public Works Finance and Services Director Social Services Clerk and Administrative Health Department Director Director Health Board Engineering Recorder Services Director Hospital Board Road and Bridge Social Services — Pest and Weed Planning and Zoning Recording Finance Division Building Inspection Motor Vehicle Personnel Services Paramedic Board of Adjustment Election Services I Information ServicesPlanning Commission Accounting Uniform Building Code Human Services Treasurers Office Director Utility Board Clerk to the Board Director Budget Paramedic Services Risk Management i Airport Human Services Communications Human Services Board Contract Administration Extension Director Fleet Management Sanitary Landfills Extension Service Purchasing Fair Board Buildings and Grounds I Special Projects I`r Coroner/Medical Veterans'Services Printing and Supply Examiner COUNTY OF WELD STATE OF COLORADO PRINCIPAL COUNTY OFFICIALS December 31, 2003 Board of County Commissioners David Long William Jerke Robert Masden Mike Geile Glenn Vaad County Clerk and Recorder Steve Moreno County Assessor Stan Sessions County Sheriff John Cooke Director of Finance & Administration Donald D. Warden Controller/Treasurer Claud Hanes 10 oaexozoa KcatoW cry- NOLL93S IdI9NdNIA of �I dE, SOI A Professional Certified Corporation is Certified Public Accountants ©MIITNEy ■ • • • ■ Independent Auditors' Report Board of County Commissioners Weld County, Colorado We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component units, each major fund, and the aggregate remaining fund information of Weld County, Colorado, as of and for the year ended December 31, 2003, which collectively comprise the County's basic financial statements as listed in the table of contents. These financial statements are the responsibility of Weld County's management. Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the Weld County Housing Authority. Those financial statements were audited by other auditors whose report has been furnished to us, and our opinion on the basic financial statements, insofar as it relates to the amounts included for the Weld County Housing Authority, is based on the report of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, and the provisions of Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non- Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether 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 opinions. In our opinion, based on our audit and the report of other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component units, each major fund, and the aggregate remaining fund information of Weld County, Colorado, as of December 31, 2003, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States. Management discussion and analysis, the schedule of pension funding progress, condition assessments of infrastructure, and budgetary comparison information on pages 13 through 22 and 63 through 74 are not a required part of the basic financial statements, but are supplementary information required by the Governmental Accounting Standards Board. We 'have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. 5801 West 11°Street• Suite 300 11 (970) 352-7990 Greeley, Colorado 80634-4813 FAX(970) 352-1855 Board of County Commissioners Weld County, Colorado Page 2 Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise Weld County, Colorado's basic financial statements. The introductory section, combining and individual nonmajor fund financial statements, Local Highway Finance Report, schedule of expenditures of federal awards, and statistical tables are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining and individual nonmajor fund financial statements, Local Highway Finance Report, and the schedule of expenditures of federal awards have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. The introductory section and statistical tables have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion on them. In accordance with Government Auditing Standards, we have also issued our reports dated May 21, 2004 on our consideration of Weld County's internal control structure over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards, and should be read in conjunction with this report in considering the results of our audit. May 21, 2004 12 MANAGEMENT'S DISCUSSION AND ANALYSIS This section of the report provides readers with a narrative overview and analysis of the financial activities of Weld County for the fiscal year ended December 31, 2003. We encourage readers to consider the information presented here in conjunction with the letter of transmittal and basic financial statements to enhance their understanding of the County's financial performance. FINANCIAL HIGHLIGHTS • Weld County's assets exceeded liabilities by$283.0 million at the end of 2003. Of this amount, $26.2 million may be used to meet the government's ongoing obligations to citizens and creditors. The remaining $256.8 million is invested in capital assets or restricted by law. • The County's General Fund balance was$5.0 million as of December 31,2003.Of this amount, $1.3 million is reserved for emergencies, advances, and encumbrances. • The 2003 General Fund balance is $1.1 million lower than in the previous year. The total fund balance is 9.2%of 2003 General Fund operating expenditures plus net operating transfers.The County Commissioners' goal is to keep fund balance at no less than 5%. The Board has not budgeted any expenditures from fund balance in 2004. OVERVIEW OF THE FINANCIAL STATEMENTS This discussion and analysis is intended to serve as an introduction to the County's basic financial statements.The basic financial statements contain three components: 1)government-wide financial statements, 2)fund financial statements, and 3)notes to the financial statements. In addition to the basic statements, this report also contains other supplementary information including combining statements for non-major funds, a statistical section, and information regarding federal grant programs. Government-wide Financial Statements.The government-wide financial statements are designed to provide readers with a broad overview of the County's finances in a manner similar to a private sector business. The statement of net assets presents information on all of the County's assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the County's financial position is improving or deteriorating. The statement of activities presents information showing how the government's net assets changed during the fiscal year.All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in the statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes). Both of the government-wide financial statements distinguish functions of the County that are principally supported by taxes and intergovernmental revenues (governmental activities)from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). Weld County's governmental activities include general government, public safety, roads and bridges, auxiliary, culture and recreation, and health and human services. The County has one business type activity—operation of the paramedic services. 13 The government-wide financial statements include not only Weld County itself (known as the primary government), but also legally separate entities which have a significant operational or financial relationship with the County. These entities, known as blended component units, include local improvement districts, Finance Corporation,Weld County Retirement Plan,and Beebe Draw Law Enforcement Authority. Discretely presented component units are Housing Authority and E- 911 Emergency. More information on the functions of these entities can be found in Note 1 to the financial statements. Fund financial statements.A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. Weld County, like other state and local govemments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of Weld County can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds. Governmental Funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near- term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. Weld County maintains twenty-four individual governmental funds. Information is presented separately in the governmental funds balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund balances for the General Fund, Public Works Fund, Social Services Fund, Human Services Fund, and Capital Expenditures Fund, all of which are considered to be major funds. Data from the other nineteen funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major funds is provided in the form of combining statements elsewhere in this report. The basic governmental fund financial statements can be found on pages 23 through 32 of this report. Proprietary funds.Weld County maintains two different types of proprietary funds.Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements.Weld County has one enterprise fund,the Paramedic Services Fund. Internal service funds are an accounting device used to accumulate and allocate costs internally among the County's various functions. Weld County uses internal service funds to account for its fleet maintenance, phone services, finance corporation, and self-insurance activities. Because these services predominantly benefit governmental rather than business-type functions, they have been mostly included within governmental activities in the government-wide financial statements. Proprietary funds provide the same type of information as the govemment-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the Paramedic Services Fund, which is considered to be a major fund of the County. The remaining proprietary funds, all of which are internal service funds, are combined into a single, aggregated 14 presentation in the proprietary fund financial statements. Individual fund data for each of these non- major funds is provided in the form of combining statements elsewhere in this report. The basic proprietary fund financial statements can be found on pages 33 through 35 of this report. Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not included in the government-wide financial statements because the resources of these funds are not available to support Weld County's own operations. The accounting used for fiduciary funds is much like that used for proprietary funds. The basic fiduciary fund financial statements can be found on page 36 through 37. Budgetary Comparisons.Weld County adopts an annual appropriated budget for all of its funds.A budgetary comparison statement has been provided for all major funds on pages 65 to 76 of this report. Budget to actual comparisons for each of the non-major funds are provided in other schedules elsewhere in this report. Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 38 through 61 of this report. Other information. The combining statements referred to earlier in connection with non-major governmental funds and internal service funds are presented following the notes to the financial statements and can be found on pages 82 through 92 and 98 through110, respectively. 15 COUNTY-WIDE FINANCIAL ANALYSIS Net Assets. As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. As of December 31, 2003, assets exceeded liabilities by$283.0 million. The following table provides a summary of the County's governmental and business-type net assets for 2003 and 2002. Table 1 Net Assets (in Millions) Governmental Activities Business-type Activities Total 2002 2003 2002 2003 2002 2003 Assets Current and other assets $ 97.37 $ 98.65 $ .22 $ ( .03) $ 97.59 $ 98 .62 Capital assets 260.27 254.52 . 94 .83 261.21 255.35 Total assets $357.64 $353 .17 $1. 16 $ .80 $358.80 $353. 97 Liabilities Current and other liabilities $ 59.87 $ 62 .82 $ .31 $ .24 $ 60.18 $ 63 .06 Long-term liabilities 8.92 8.14 .00 .00 8.92 8 .14 Total liabilities $ 68.79 $ 70.96 $ .31 $ .24 $ 69.10 $ 71.20 Net Assets Invested in capital assets, of related debt $253.14 $247.76 $ .94 $ .83 $254. 08 $248.59 Restricted 7.99 7.94 .00 7.99 7.94 Unrestricted 27.72 26.51 ( .09) ( .27) 27.63 26.24 Total net assets $288.85 $285.21 $ .85 $ .56 $289.70 $282 .77 A significant portion of Weld County's net assets (9.28%) represents unrestricted net assets of 26.24million,which may be used to meet the County's ongoing obligations to citizens and creditors. Another significant portion of the County's net assets (87.9%) reflects its investment in capital assets. These assets include land, buildings, machinery, equipment and infrastructure. These capital assets are used to provide services to citizens;consequently,they are not available for future spending. Although the investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources since the capital assets themselves cannot be used to liquidate these liabilities. The only debt is the certificate of participation for the jail. Weld County has no other debt. 16 An additional $8 million of the County's net assets(2.8%)represents resources that are subject to external restrictions on how they may be used. Included in this category are the TABOR emergency reserve of$3.0 million and $1.7 in reserves for insurance claims. At the end of 2003,Weld County had positive balances in all three categories of net assets,both for the government as a whole, as well as for its separate governmental and business-type activities. Changes in Net Assets. Governmental and Business-type activities decreased the County's net assets by $6.97 million in 2003. The following table indicates the changes in net assets for governmental and business-type activities in 2002 and 2003. Table 2 Changes in Net Assets (in Millions) Governmental Activities Business-type Activities Total 2002 2003 2002 2 03 2002 2003 Revenues Program revenues: Charges for services $ 30.20 $ 28.11 $0.00 $0.00 $ 30.20 $ 29.11 Operating grants and contributions 26.16 25.96 0.00 0.00 26.16 25.96 General revenues: Property taxes 45.23 47.53 0.00 0.00 45.23 47.53 Other taxes 7.84 8.03 0.00 0.00 7.84 8.03 Other revenues 2.06 1.47 0.00 0.00 2.06 1.47 Paramedic Services 0.00 0.00 6.81 8.51 6.81 8.51 Total revenues $111.49 $112.10 $6.81 $8.51 $118.30 $120.61 Expenses General govemment $ 19.98 $ 23.62 $0.00 $0.00 $ 19.98 $ 23.62 Public safety 24.08 27.84 0.00 0.00 24.08 27.84 Streets and highways 34.28 33.35 0.00 0.00 34.28 33.35 Culture and recreation 1.03 .78 0.00 0.00 1.03 .78 Health and welfare 21.72 21.40 0.00 0.00 21.72 21.40 Interest on long-term debt .41 .38 0.00 0.00 .41 .38 Economic assistance 11.08 11.41 0.00 0.00 11.08 11.41 Paramedic services 0.00 0.00 6.74 8.80 6.74 8.80 Total expenses $112.58 $118.78 $6.74 $8.80 $119.32 $127.58 Increase(decrease)in net assets S (1.09) $ (6.68) $ .07 $(.29) $ (1.02) $ (6.97) Governmental Activities. Governmental activities decreased Weld County' s net assets by$6.68 million in 2003. Key elements of this decrease are as follows: • Total revenues were$112.1 million, up .5%from the prior year,due largely to State funding cuts. • Expenses totaled $118.78 million. This represents a 5.5% increase over the previous year. Increases occurred in most categories due to normal wage and inflation costs and costs of providing an increased volume of services to a growing citizen base, including expanded correctional facilities. 17 Business-Type Activities. The County's only business-type activity, Paramedic Services, decreased net assets in 2003 by$287,414, in large part a result of lower Medicare reimbursement. FINANCIAL ANALYSIS OF THE COUNTY'S FUNDS As noted earlier, Weld County uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental Funds Overview. The focus of County governmental funds is to provide information on near-term inflows,outflows,and balances of spendable resources. Such information is useful in assessing the County's financing requirements. In particular, unreserved fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. As of the end of 2003, the combined ending fund balances of County governmental funds was $32.59 million. Approximately 88% of this consists of unreserved fund balance, which is available as working capital and for current spending in accordance with the purposes of the specific funds. The remainder of fund balance is reserved to indicate that it is not available for new spending because it is committed for the following purposes: 1) encumbrances ($2.05 million); 2) a state- constitution mandated emergency reserve($3.0 million); 3)an advance to the Paramedic Services ($985,000); and 4) prepaid expenses and inventory ($977,516). The County has five major governmental funds. These are 1)General Fund;2)Public Works Fund; 3) Social Services Fund; 4) Human Services Fund; 5) the Capital Expenditure Fund. 1. General Fund. This is the primary operating fund of the Weld County Government. It accounts for many of the County's core services, such as law enforcement, planning, and elections. The general fund balance was $5.0 million as of December 31, 2003. Of this amount, $985,000 is reserved for advances. The 2003 fund balance is $1.1 million lower than the previous year. As a measure of the general fund's liquidity, it may be useful to compare both unreserved fund balance and total fund balance to total fund expenditures. Unreserved fund balance represents 6.4% of total 2003 expenditures, while total fund balance is 8.9% of the same amount. 2. Public Works Fund. The Public Works Fund is also state mandated. The fund records costs related to County road and bridge construction and maintenance. The Public Works Fund had $10.8 million in fund balance at the end of 2003. This amount was $2 million more than the previous year. 2003 expenditures for road projects were less than budgeted. 3. Social Services Fund. The Social Services Fund is mandated by State Statute. This fund accounts for the local share of many Federal and State public welfare programs. The fund carried a $1.9 million balance at the end of 2003, which is 12% less than 2002. Client payments, such as TANF and child welfare, were higher than the previous year, plus the budget plan called for a reduction in reserves. 4. Human Services Fund. The Human Services Fund accounts for various Federal and State human services grants. Primary funding agencies are IDOL, HHS, and CSA. The decrease in expenditures for 2003 was primarily attributed to the Headstart and Migrant Headstart Programs. 5. Capital Expenditure Fund. The Capital Expenditure Fund accounts for the construction of major capital facilities. These are the expansion of the jail and renovation of the courthouse 18 to add courtrooms. The $2.3 million decrease in fund balance between 2002 and 2003 represents the cost of construction payments for the two major projects in 2003. The remaining fund balance is reserved for capital projects. Proprietary Funds Overview The County's proprietary fund statements provide the same of information found in the government-wide statements, but in more detail. The County has one enterprise-type fund. The Paramedic Services Fund. Unrestricted net assets of the fund at the end of the year amounted to$(266,736). The total decrease in net assets for the fund was $287,414. Other factors concerning the finances of this fund was discussed under business-type activities. Weld County has five internal service funds. Information on these funds is aggregated in the Proprietary Fund financial statements. GENERAL FUND BUDGETARY HIGHLIGHTS Comparison of Unreserved Fund Balances as of December 31, 2002 and 2003 12-' 10a° AgC, 8-" ai, h, ❑2002 0 ■2003 General Public Social Human Capital Other Govt. Fund Works Services Services Projects Funds The County's budget is prepared according to Colorado statutes. The most significant budgeted fund is the General Fund. In December of 2002, the Board of County Commissioners appropriated $49.1 million for general fund expenditures and other financing uses, using only$292,709 in fund balance. The budget was amended twice during the calendar year. 19 Table 3 2003 General Fund Budget (in Millions) Original Budget Amendments Final Budget Actual Revenue and other financing sources $ 48.8 $ 4.5 $ 53.3 $ 54.5 Expenditures and other financing uses 49.1 6.9 56.0 55.6 Mid-year budget amendments included: • $1.3 million for the purchase of downtown Greeley parking • $1.6 million for the upgrade of the computer infrastructure • $1.1 million for a grant for the economic development/community development • $1.03 million for equipment for the 800 MHZ system • A number of mid-year grants in the health and human services area account for the budget adjustment in those funds • $8 million was added mid-year due to added jail costs due to growing inmate population • Prior year encumbrances were re-appropriated mid-year Actual expenditures were below anticipated budget and less than revenues, which allowed the ending fund balance to increase$675,433 over the prior year; however,with transfers of$1,775,368 to other funds, the fund balance decreased $1,099,935. CAPITAL ASSET AND DEBT ADMINISTRATION Capital Assets. Weld County's investment in capital assets for its governmental and business type activities as of December 31, 2003 totals $255.4 million (net of accumulated depreciation). This investment includes all land, buildings, machinery, equipment, and infrastructure. The total decrease in investment in capital assets for the current fiscal year was 1%. Major capital asset events during the current fiscal year including the following: • Road construction or major improvements totaling $2.6 million. • Completion of a 236 bed jail expansion. On-going construction commitments include: • Renovation of the courthouse to add courtrooms. The County implemented the "depreciation method" under GASB 34 for its road and bridge infrastructure assets, except for the gravel roads, where the "modified approach" was used. 20 Additional information on the County's capital assets can be found in Note 6 of this report. Construction commitments are discussed in Note 11. Long-term debt. At December 31, 2003, Weld County had only the outstanding long-term debt (principal amount)of$6.79 million in Certificates of Participation(COP),funded by lease payments for the county jail. The COP for the administration building was paid off in 2003. The Weld County Home Rule Charter provides for a general obligation debt limit of 3%of assessed valuation. The county had a general obligation debt capacity of$72.8 million in 2003. The county currently has no debt subject to the limitation. No new debt was issued in 2003. Additional information on Weld County's debt can be found in Note 9. Other Matters. The following factors are expected to have a significant effect on the County' s financial position or results of operations and were taken into account in developing the 2003 budget. • Continued growth in Weld County caused increased demands in all service areas of the county, especially in human services and transportation • Public safety significantly impacts the 2004 budget. An upgrade of the Tiburon criminal justice system will cost $773,712. Phase II of the jail opened in January at an added cost of over $300,000 • The West Nile Virus spread into Weld County in the Summer of 2002. As a result, the county budgeted $710,818 in 2004 to combat the disease with mosquito control measures and public education • The State of Colorado's budget crisis has led to a number of grant programs in the area of health, human services and social services being reduced or costs shifted to the county • Public Works has identified seven strategic roadways to deal with the growth in the county. These roadways will result in an investment of over$280 million over the next 30 years. To fund this program, a new transportation impact fee went into effect January 1, 2003. • The County's business-type activity, Paramedic Services, increased its fees by an average of 20%,which is expected to increase operating income, but cash flow continues to be a concern due to cutbacks in Medicaid and Medicare assignments for collections and the elimination of the requirement to have medical coverage as part of automobile liability in Colorado • The County will be acquiring handicap voting machines at a cost of $350,000 to be in compliance with the Help America Vote Act (HAVA) • Weld County will continue to develop plans for bioterrorism and emergency preparedness • The courthouse and Centennial Complex will be remodeled to accommodate additional courtrooms for newly created judge positions 21 REQUESTS FOR INFORMATION This financial report is designed to provide a general overview of Weld County's finances for all those with an interest in the government's finances. Questions concerning any of the information provided in this or for additional financial information should be addressed to the Director of Finance and Administration, 915 10th Street, Greeley, CO 80631. 22 oavxozoo 31111 Kri4OP S1N3W31d1S 1dDNdNIA dISVB COUNTY OF WELD STATE OF COLORADO Statement of Net Assets December 31, 2003 Primary Government Component Units Governmental Business-type Housing E-911 Activities Activities Total Authority Authority ASSETS Cash and cash equivalents $ 36,996,412 $ 16,203 $ 37,012,615 $ 908,101 $ 1,361,437 Property taxes receivable 53,338,358 53,338,358 - - Receivables(net of allowance for uncollectibles) 1,673,910 839,370 2,513,280 171,218 (32) Due from other governments 1,263,555 - 1,263,555 - - Internal balance 881,057 (881,057) - - - Inventories 1,187,339 - 1,187,339 - - Other assets 48,765 - 48,765 - - Restricted assets: Cash and cash equivalents 3,254,309 - 3,254,309 - - Capital assets,net(Note 6) 254,533,479 834,285 255,367,764 14,286 1,040,447 Total assets 353,177,184 808,801 353,985,985 1,093,605 2,401,852 LIABILITIES Accounts payable and other current liabilities 3,240,583 12,920 3,253,503 2,340 157,389 Accrued liabilities 2,667,075 228,332 2,895,407 1,684 - Due to other governments 3,984 - 3,984 - - Deferred revenue 56,383,791 - 56,383,791 - - Other liabilities 31,331 - 31,331 - - Long-term liabilities: Due within one year: Certificates of participation 380,000 - 380,000 - - Compensated absences 105,928 - 105,928 22,138 - Due in more than one year: Certificates of participation 6,388,602 - 6,388,602 - - Compensated absences 1,756,038 - 1,756,038 - - Total liabilities 70,957,332 241,252 71,198,584 26,162 157,389 NET ASSETS Invested in capital assets,net of related debt 247,764,877 834,285 248,599,162 14,286 1,040,447 Restricted for: Programs 3,169,309 3,169,309 - - Emergencies 3,025,505 - 3,025,505 - - Claims 1,748,948 - 1,748,948 - - Unrestricted 26,511,213 (266,736) 26,244,477 1,053,157 1,204,016 Total net assets $ 282,219,852 $ 567,549 $ 282,787.401 $ 1,067,443 $ 2,244,463 See accompanying notes to the basic financial statements 23 COUNTY OF WELD STATE OF COLORADO Statement of Activities Year Ended December 31, 2003 Program Revenues Operating Capital Charges for Grants and Grants and Expenses Services Contributions Contributions Primary government: Governmental activities: General government $ 23,618,753 S 8,677,015 S 532,890 S - Public safety 27,827,685 5,085,767 3,945,991 - Streets and highways 33,353,129 2,279,939 8,298,014 - Health and welfare 21,404,255 11,486,561 1,861,639 - Culture and recreation 776,322 1,375 - - Economic assistance 11,411,322 1,576,106 11,324,709 - Interest on long-term debt 377,233 - - - Total governmental activities 118,768,699 29,106,763 25,963,243 - Business-type activities: Paramedic service 8,800,646 8,518,289 - - Total primary government S 127,569,345 S 37,625,052 S 25,963,243 S - Component units: Housing Authority S 2,780,773 S 268,760 S 2,766,202 S - E-91I Authority 840,668 1,138,086 - - Total component units S 3,621,441 S 1,406,846 S 2,766,202 S - GENERAL REVENUES Taxes: Property taxes Specific Ownership Other Grants and contributions not restricted to specific programs Unrestricted investment earnings Gain on sale of capital assets Transfers Total general revenues Change in net assets Net assets-beginning Net assets-ending See accompanying notes to the basic financial statements 24 Net(Expenses)Revenues and Changes in Net Assets Primary Government Component Units Governmental Business-type Housing E-91 I Activities Activities Total Authority Authority $ (14,408,848) $ • $ (14,408,848) $ - $ - (18,795,927) - (18,795,927) - - (22,775,176) - (22,775,176) - - (8,056,055) - (8,056,055) - - (774,947) - (774,947) - - 1,489,493 - 1,489,493 - - (377,233) - (377,233) - - (63,698,693) - (63,698,693) - - - (282,357) (282,357) - - (63,698,693) (282,357) (63,981,050) - - - - 254,189 - - - - - 297,418 - - - 254,189 297,418 47,532,602 - 47,532,602 - - 5,540,872 - 5,540,872 - - 2,492,418 - 2,492,418 - - 1,563,120 15 1,563,135 - - (94,544) - (94,544) - - - (5,072) (5,072) - - 57,034,468 (5,057) 57,029,411 - - (6,664,225) (287,414) (6,951,639) 254,189 297,418 288,884,077 854,963 289,739,040 813,254 1,947,045 $ 282,219,852 $ 567,549 S 282,787,401 $ 1,067,443 $ 2,244,463 25 COUNTY OF WELD STATE OF COLORADO Governmental Funds Balance Sheet December 31, 2003 Public Works Social Services General Fund Fund Fund ASSETS Cash and short-term investments $ 6,844,312 $ 10,208,939 $ 3,812,131 Receivables (net of allowance for uncollectibles): Current property taxes 39,061,036 4,970,780 4,978,156 Delinquent property taxes 155,259 19,779 17,767 Accounts 584,263 229,747 70,500 Special assessment - 131,016 - Due from other County funds 116,425 106,003 - Due from other governments 194,689 - 565,146 Advances to other funds 985,000 - - Inventories 92,484 821,713 - Other assets 39,683 - - Total Assets $ 48,073,151 $ 16,487,977 $ 9,443,700 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable $ 1,907,806 $ 224,522 $ 245,835 Accrued liabilities 1,113,913 249,960 138,065 Other liabilities - - 31,331 Due to other County funds 51,075 112,071 419,463 Due to other governments - - 3,984 Deferred revenue 39,637,173 5,130,031 6,688,572 Unexpended grant revenue 293,508 - - Total Liabilities 43,003,475 5,716,584 7,527,250 Fund Balances: Reserved for encumbrances 225,202 1,152,941 - Reserved for advances to other funds 985,000 - - Reserved for other assets 39,683 - - Reserved for inventories 92,484 821,713 - Unreserved: General Fund 3,727,307 - - Special Revenue Funds - 8,796,739 1,916,450 Capital Project Fund - - - Total Fund Balances 5,069,676 10,771,393 1,916,450 Total Liabilities and Fund Balances $ 48,073,151 $ 16,487,977 $ 9,443,700 See accompanying notes to the basic financial statements 26 Capital Other Total Human Services Expenditures Governmental Governmental Fund Fund Funds Funds $ 949,588 $ 3,655,412 $ 10,165,619 $ 35,636,001 - 2,265,047 1,294,319 52,569,338 - 15,658 10,138 218,601 150,158 - 487,812 1,522,480 - - - 131,016 178,437 - - 400,865 503,720 - - 1,263,555 - - - 985,000 231,357 - 17,529 1,163,083 2,736 - 3,371 45,790 $ 2,015,996 $ 5,936,117 $ 11,978,788 $ 93,935,729 $ 218,181 $ 147,375 $ 83,476 $ 2,827,195 411,003 - 159,678 2,072,619 - - - 31,331 23,439 - 2,717 608,765 - - - 3,984 306,106 2,290,300 1,456,661 55,508,843 - - - 293,508 958,729 2,437,675 1,702,532 61,346,245 667,828 - 2,045,971 - - - 985,000 2,736 - 3,371 45,790 - - 17,529 931,726 - - - 3,727,307 1,054,531 - 10,255,356 22,023,076 2,830,614 - 2,830,614 1,057,267 3,498,442 10,276,256 32,589,484 $ 2,015,996 $ 5,936,117 $ 11,978,788 $ 93,935,729 27 COUNTY OF WELD STATE OF COLORADO Reconciliation of Total Governmental Fund Balances To Statement of Net Assets December 31, 2003 Total governmental fund balances $ 32,589,484 Amounts reported for governmental activities in the statement of activities are different because: Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds 237,992,173 Long-term liabilities, including bonds payable and compensated absences, are not due and payable in the current period and therefore are not reported in the funds Compensated absences (1,861,966) Internal service funds are used by mangement to charge the costs of insurance and other services to individual funds. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net assets 13,604,186 Internal services used by Enterprise Fund (104,025) Net assets of governmental activities $ 282,219,852 See accompanying notes to the basic financial statements 28 #6icr "Re. COLORADO COUNTY OF WELD STATE OF COLORADO Statement of Revenues, Expenditures and Changes in Fund Balance Governmental Funds Year Ended December 31, 2003 Public Works Social General Fund Fund Services Fund REVENUES: Taxes $ 33,510,144 $ 10,706,787 $ 3,664,276 Licenses and permits 1,534,492 226,054 - Intergovernmental 6,252,235 9,206,834 10,299,838 Fines and forfeitures 75,488 - - Charges for services 2,513,576 1,258,316 - Miscellaneous 4,023,696 71,091 3 Fees 6,627,788 756,649 - Total Revenues 54,537,419 22,225,731 13,964,117 EXPENDITURES: Current: General government 21,763,596 - - Public Safety 26,497,282 - - Public Works 1,272,588 20,135,233 - Public health and welfare 1,410,680 - 14,104,084 Culture and recreation 415,894 - - Economic assistance - - - Capital outlay 2,124,713 123,788 461,251 Debt Service 377,233 - - Intergovernmental - - - Total Expenditures 53,861,986 20,259,021 14,565,335 Excess of Revenues Over(Under) Expenditures 675,433 1,966,710 (601,218) Other Financing Sources (Uses): Transfers -in - - - Transfers-out 1,775,368 - - Total Other Financing Sources (Uses) (1,775,368) - - Net Changes in Fund Balance (1,099,935) 1,966,710 (601,218) Fund Balances at Beginning of Year 6,169,611 8,804,683 2,517,668 Fund Balance at End of Year $ 5,069,676 $ 10,771,393 $ 1,916,450 See accompanying notes to the basic financial statements 30 Capital Other Total Human Expenditures Governmental Governmental Services Fund Fund Funds Funds $ - $ 3,489,832 $ 1,709,935 $ 53,080,974 - - - 1,760,546 10,376,780 30,000 2,133,474 38,299,161 - - - 75,488 860,288 - 2,255,289 6,887,469 240,566 153,719 250,311 4,739,386 2,767 - - 7,387,204 11,480,401 3,673,551 6,349,009 112,230,228 - 146,700 - 21,910,296 - - 715,089 27,212,371 - - - 21,407,821 - - 5,381,518 20,896,282 - - 348,555 764,449 11,365,585 - - 11,365,585 - 5,791,706 167,476 8,668,934 - - - 377,233 11,365,585 5,938,406 6,612,638 112,602,971 114,816 (2,264,855) (263,629) (372,743) 12,351 - 2,470,394 2,482,745 - 707,377 2,482,745 12,351 - 1,763,017 - 127,167 (2,264,855) 1,499,388 (372,743) 930,100 5,763,297 8,776,868 32,962,227 $ 1,057,267 $ 3,498,442 $ 10,276,256 $ 32,589,484 31 COUNTY OF WELD STATE OF COLORADO Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities December 31,2003 Net changes in fund balances-total governmental funds $ (372,743) Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period. Capital asset additions 11,451,426 Depreciation expense (16,884,567) Excess of depreciation over capital outlay (5,433,141) Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. Compensated absences (68,066) Gain/loss on disposition of capital assets (109,544) Internal service funds are used by mangement to charge the costs of certain activities,such as insurance,telecommunications and fleet services,to individual funds. The net revenue (expense)of certain internal service funds is reported with governmental activities. (699,355) Internal services used by Enterprise Funds 18,624 Change in assets of governmental activities $ (6,664,225) See accompanying notes to the basic financial statements 32 COUNTY OF WELD STATE OF COLORADO Statement of Net Assets Proprietary Funds December 31,2003 Business-type Governmental Activity Activities Paramedic Enterprise Internal Fund Service Funds ASSETS Cash and short-term investments $ 16,203 $ 4,614,720 Property taxes receivable - 550,419 Receivables(net of allowance for uncollectibles): Accounts 839,370 20,414 Due from other County funds - 207,993 Inventory - 24,256 Other assets - 2,975 Total Current Assets 855,573 5,420,777 Capital Assets: Land 48,496 - Improvements other than buildings 55,728 460,679 Buildings 656,305 8,954,777 Machinery and equipment 1,072,872 23,018,770 Accumulated depreciation (999,116) (15,892,920) Total Capital Assets 834,285 16,541,306 Total Assets 1,689,858 21,962,083 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts payable 12,920 413,388 Accrued liabilities 228,332 594,456 Due to other County funds 82 11 Deferred revenue - 581,440 Advances from general fund 985,000 - Total Current Liabilities 1,226,334 1,589,295 Noncurrent liabilities: Due within one year - 380,000 Due in more than one year - 6,388,602 Total noncurrent liabilities - 6,768,602 Total liabilities 1,226,334 8,357,897 Net Assets Invested in capital assets,net of related debt 834,285 9,772,704 Restricted for: Workers'compensation - 1,032,425 Unrestricted (370,761) 2,799,057 Total net assets 463,524 $ 13.604,186 Some amounts reported for business-type activities in the statement of net assets are different because certain internal service fund assets and liabilites are included with business-type activities. 104,025 Net assets of business-type activities $ 567,549 See accompanying notes to the basic financial statements 33 COUNTY OF WELD STATE OF COLORADO Statement of Revenue, Expenses and Changes in Net Assets Proprietary Funds For the fiscal year ended December 31,2003 Business-type Governmental Activity Activities Paramedic Enterprise Internal Fund Service Funds Operating revenues: Contributions $ - $ 264,222 Rental income - 737,233 Charges for services 8,503,174 5,600,728 Total operating revenues 8,503,174 6,602,183 Operating expenses: Bad debt expense 5,175,432 - Personnel services 2,898,010 111,998 Supplies 186,800 970,360 Purchased services 302,824 2,347,084 Insurance and bonds - 410,372 Depreciation 216,652 2,357,785 Other 2,304 105,518 Claims - 1,511,315 Total operating expenses 8,782,022 7,814,432 Operating income(loss) (278,848) (1,212,249) Nonoperating revenues(expenses): Taxes - 550,212 Miscellaneous 6,515 53,046 Interest income 15 886 State Grant 100 - Gain(loss)on disposition of assets 8,500 21,036 Judgements and damages - 243,471 Net increase(decrease)in fair market value -Interest expense - (377,233) Total nonoperating revenues(expenses) 15,130 491,418 Income(loss)before contributions or transfers (263,718) (720,831) Capital contributions - 21,476 Transfers-out 5,072 979,046 Changes in net assets (268,790) (1,678,401) Total net assets beginning of year 732,314 15,282,587 Total net assets at end of year 463,524 $ 13,604,186 Some amounts reported for business-type activities in the statement of activities are different because the net revenue(expense)of certain internal service funds is reported with business-type activities. (18,624) Change in net assets of business-type activities $ (287,414) See accompanying notes to the basic financial statements 34 COUNTY OF WELD STATE OF COLORADO Combining Statement of Cash Flows Proprietary Funds For the fiscal year ended December 31,2003 Business-type Governmental Activity Activites Enterprise Fund Internal Paramedic Services Service Funds CASH FLOWS FROM OPERATING ACTIVITIES Cash flows from external customers $ 3,782,215 $ 423,476 Cash flows from internal customers - 6,223,602 Cash payments to external suppliers for goods and services (403,898) (4,748,364) Cash payments to internal suppliers for goods and services (305,394) (185,812) Cash payments to employees for services (2,856,090) (354,381) Miscellaneous revenues - 2.478 Net cash provided(used)by operating activities 216.833 1.360.999 CASHFLOWS FROM NONCAPITAL FINANCING ACTIVITIES Taxes - 550,212 Cash transfers from General Fund (95,000) - - Grants Judgements/damages/losses - 259.084 Net cash provided by noncapital financing activities (95.000) 809.296 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets (114,960) (2,376,183) Principal paid on long-term debt - (420,000) Interest paid - (567,244) Proceeds from sale of capital assets 8,500 269,492 Cash for future capital - - Net cash provided(used)for capital and related Financing activities (106.460) (3.093,935) CASH FLOWS FROM INVESTING ACTIVITIES Interest on investments - 51.490 Net Increase(decrease)in Cash and Cash Equivalents 15,373 (872,150) Cash and Cash Equivalents at Beginning of Year 830 5.486.870 Cash and Cash Equivalents at End of Year $ 16 203 $ 4.614 72Q Reconciliation of operating income to net cash provided(used)by operating activities: Operating income(loss) $ (278,848) $ (1,212,249) Adjustments to reconcile operating income to net cash provided(used)by operating activities: Depreciation expense 216,652 2,357,784 Miscellaneous revenue 6,630 2,444 Change in assets and liabilities Increase)decrease in accounts receivable 339,782 28,770 Increase)decrease in due from other funds - 124863 Increase)decrease in inventories - (7,324) Increase)decrease in other assets 44,078 - ncrease(decrease)in accounts payable (19,702) (87,659) ncrease(decrease)in accrued liabilities (50,086) 127,206 ncrease(decrease)in other liabilities 2,405 (14,198) ncrease(dedrease)in deferred revenue - (2 716j Total adjustments 495,681 2.573.248 Net cash provided by operating activities $ 216 8fl $ 1 360 994 Noncash investing,capital,and financing activities: Contributions of capital assets from(to)government (5,073) (957,570) Capital asset trade-ins - 56,847 The notes to the financial statements are an integral part of this statement. 35 COUNTY OF WELD STATE OF COLORADO Statement of Fiduciary Net Assets Fiduciary Funds December 31, 2003 Weld County Agency Retirement Funds Plan ASSETS Cash and cash equivalents $6,556,678 $ - Accounts Receivables (net of allowances for uncollectables): 3,124 2,922 Restricted assets Cash - 990,990 Corporate Bonds - 26,898,976 Common Stock - 61,330,408 Total assets $6,559,802 $89,223,296 LIABILITIES AND NET ASSETS Accounts payable $ 543,657 $ 24,796 Due to other governments 6,016,145 - Total Liabilities $6,559,802 $ 24,796 NET ASSETS Held in trust for pension benefits and other purposes $ - $89,198,500 See accompanying notes to the basic financial statements 36 COUNTY OF WELD STATE OF COLORADO Statement of Changes in Fiduciary Net Assets Fiduciary Funds For the fiscal year ended December 31, 2003 Weld County Retirement Plan Additions: Employer contributions $ 2,182,671 Employee contributions 2,302,677 Earnings on investments 1,939,500 Net appreciation in fair market value of investments 14,909,913 Total Additions 21,334,761 Deductions: Actuarial/Trustee fees 241,841 Benefit payments 4,505,739 Supplies 9,829 Total Deductions 4,757,409 Change in net assets 16,577,352 Net assets - beginning 72,621,148 Net assets -ending $ 89,198,500 37 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Note 1 - Summary of Significant Accounting Policies: The County of Weld, Colorado ("County") was established in 1861, and on January 1, 1976, became a home rule county under the provisions of Section 30-35-501, CRS, 1973. The County operates under an elected commissioner form of government. The County provides the full range of services contemplated by statute or charter. These include general government functions, public protection and safety, health, social services, human resource services, public improvements, road and bridge operations, planning and zoning, and general administrative services. The financial statements of the County have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental units. The following summary of significant accounting policies is presented to assist the reader in evaluating the County's financial statements. A. Reporting Entity: Weld County is a political subdivision of the State of Colorado, governed by an elected five-member Board of County Commissioners. There are also four other elected officials of Weld County (Assessor, Clerk and Recorder, District Attorney, and Sheriff) . The accompanying financial statements present the government and its component units, entities for which the government is considered to be financially accountable. Blended component units, although legally separate entities, are, in substance, part of the government's operations. Each discretely presented component unit is reported in a separate column in the government-wide financial statements (see note below for description) to emphasize that it is legally separate from the government. Discretely presented component units: The Weld County Housing Authority is responsible for assisting Weld county residents with housing assistance. The Board of County Commissioners appoints all of the five-member Housing Authority Board. The County has the ability to remove any of the appointed board members, they can modify decisions made by the board and can hire or fire persons responsible for the day to day operations. The Weld County Housing Authority is governed by state regulations, but was designated as part of the County for budgetary and audit purposes by an act of the Colorado General Assembly in 1989. The E911 Emergency Telephone Service Authority Board was created by intergovernmental agreements pursuant to Article 11 of Title 29, C.R.S. , as amended, that authorizes the county, municipalities within the county, and special districts within the county to enter into an agreement for the purpose of providing 911 emergency telephone services. Per the state statute cited above, the agreement creates a separate legal entity which is responsible for administering the operations of the 911 emergency 38 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 telephone service program in Weld County. The authority board consists of seven members with four selected by the Weld County Commissioners, one member each is selected by the City of Greeley, City of Fort Lupton and Weld County Sheriff. The operation of the E911 authority is done contractually by the Weld County Communication Regional Center. Because they provide services to or otherwise benefit Weld County, the financial statements of the following organizations are blended into the County financial statements: Weld County Retirement Plan - The Retirement Board consists of five members, two selected by participating employees, two appointed by the Board of County Commissioners, and the fifth being the County Treasurer. The County funds half of the retirement plan, which covers substantially all permanent, full-time employees of Weld County. The operation of the plan is accounted for in the Weld County Retirement Fund, as a Pension Trust Fund. Weld County Finance Corporation - The Weld County Finance Corporation ("Corporation") was formed in 1987 as a not-for-profit corporation under section 501 (c) (4)of the Internal Revenue Code, and exists solely to acquire real estate and construct buildings for lease to the County. The Board of County Commissioners appoints the three-member Board of Directors of the Corporation, and approves all projects undertaken by the Corporation. The members of the Board of Directors are employees of the County. The Beebe Draw Law Enforcement Authority (LEA) was formed by the electors of the LEA on December 3, 1985, in accordance with Section 30-11-401, CRS. The law enforcement authority is a taxing unit created by the county to provide additional law enforcement service by the county sheriff to residents in a developed unincorporated area of the county. The governing board of the law enforcement authority is the five Weld County Commissioners sitting as the governing board of the authority. Law enforcement services to the authority are provided contractually by the county sheriff. The Local Improvement Districts have not been included in the County's financial statements individually, as they are immaterial, but are included as a blended component unit of Public Works, a special revenue fund. The following related organizations are excluded from the accompanying financial statements because the County's accountability for these organizations does not extend beyond various appointments. North Colorado Medical Center - The Board of County Commissioners owns land underlying the main facility of the Medical Center, which land is currently leased to the Colorado Hospital Finance Authority as part of the security for financing the bonded indebtedness of the Medical Center. The indebtedness is not an obligation of the Board 39 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 of County Commissioners and no taxpayer funds or Board of County Commissioners funds are obligated to pay any portion of the principal, premium or interest on the Bonds. The land is leased back from the Authority to the Board of Trustees, a seven member Hospital Board of Trustees appointed by the Board of County Commissioners. The Hospital Board of Trustees has entered into an operating sublease of the ground and facilities with NCMC, Inc. , a 501 (c) (3)entity, with three of its members also serving on the Board of Trustees, which, in turn, has contracted with Banner Health Systems to operate the Medical Center. NCMC has the ability to incur its own debt and its operations are financed totally by patient revenues. Greeley-Weld Airport Authority - The County Commissioners appoint two of the five Airport Authority Board members. The County has contributed approximately 5W of the funds for capital construction. The Authority has full autonomy under Colorado State law, can incur debt, and funds it operations totally from user fees. Weld Library District - The County Commissioners, together with the concurrence of the city councils of seven participating municipalities, appoint the seven-member Library District Board. The Library District Board has total autonomy under the State Library Act to incur debt, establish budgets, and levy property taxes to support the District' s library system. Colorado Counties Casualty and Property Pool (hereinafter referred to as "CAPP" - CAPP was formed July 1, 1986, by an intergovernmental agreement by member counties as a separate and independent governmental and legal entity pursuant to the provisions of Article XIV, Section 18 (2) of the Colorado Constitution and Section 29-1-201 et seq, 24-10-115.5, and 29-13-102, CRS, as amended. Each member county in this intergovernmental agreement has the power under Colorado law to make provision for the property and casualty coverage which constitute the functions and services jointly provided by means of the CAPP. The Insurance Commissioner of the State of Colorado has such authority with respect to the CAPP as is provided by applicable Colorado statutes. The purposes of the CAPP are to provide a risk management fund for defined property and casualty coverage and to assist members in controlling costs by providing specialized governmental risk management services and systems. It is the intent of the members to use member contributions to defend and indemnify, in accordance with the bylaws, any member against states liability or loss to the limit of the financial resources of the risk management fund. It is also the intent of the members to have CAPP provide needed coverage at reasonable costs. All income and assets of CAPP shall be at all times dedicated to the exclusive benefit of its members. Weld County, through its 40 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Insurance Internal Service Fund, recognizes an expense for the amount paid to CAPP annually for these coverages. Weld County is a charter member of CAPP and has been a continuous member since July 1, 1986. B. Government-wide Financial Statements: The County's basic financial statements consist of government-wide statements, including a statement of net assets and a statement of activities, and fund financial statements which provide a more detailed level of financial information. The government-wide focus is more on the sustainability of the County as an entity and the change in aggregate financial position resulting from activities of the fiscal period. The statement of net assets and the statement of activities display information about the county as a whole. In the government-wide statement of net assets, both the governmental and business-type activities columns are presented on a consolidated basis by column. These statements include the financial activities of the primary government, except for fiduciary activities. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities , which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. The government-wide statement of activities reflect both the direct expenses and net cost of each function of the County's governmental activities and business-like activity. Direct expenses are those that are clearly identifiable with a specific function. Program revenues include charges paid by the recipient for the goods or services offered by the program. Grants and contributions that are restricted to meeting the operational or capital requirements of a particular program and interest earned on grants that is required to be used to support a particular program are included in operating grants and contributions, or capital grants and contributions. Revenues which are not classified as program revenues are presented as general revenues of the County, with certain limited exceptions. The comparison of direct expenses with program revenues identifies the extent to which each government function or business segment is self-financing or draws from the general revenues of the County. Fund Financial Statements The financial transactions of the County are recorded in individual funds. A fund is defined as a fiscal and accounting entity with a self- balancing set of accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures or expenses, as appropriate. Separate statements for each fund category - governmental, proprietary, and fiduciary - are presented. The emphasis of fund financial statements is 41 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and presented as non-major funds. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment earnings, result from non exchange transactions or ancillary activities. C. Measurement Focus Government-wide, Proprietary and Fiduciary Fund Financial Statements The government-wide, proprietary, and fiduciary fund financial statements are reported using the economic resources measurement focus. The government-wide and proprietary fund financial statements are reported using the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Nonexchange transactions, in which the County gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, grants, and donations. Revenues from property taxes are recognized in the fiscal year for which the taxes are levied. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. Under the terms of grant agreements, the County funds certain programs by a combination of specific cost-reimbursement grants, categorical block grants, and general revenues. Thus, when program expenses are incurred, there are both restricted and unrestricted net assets available to finance the program. It is the County' s policy to first apply cost- reimbursement grant resources to such programs, followed by categorical block grants, and then by general revenues. All governmental and business-type activities and enterprise funds of the County follow FASB Statements and Interpretations issued on or before November 30, 1989, Accounting Principles Board Opinions, and Accounting Research Bulletins, unless those pronouncements conflict with GASB pronouncements. The County reports the following major governmental funds: The General Fund is the general operating fund of the County which accounts for all financial resources that are not accounted for in other funds. Operations of the County such as public safety, planning and zoning, property valuation, tax collection and distribution, vehicle licensing, County administration, and other activities financed from taxes and general revenues are reflected in this fund. 42 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 The Public Works Fund records costs related to County road and bridge construction and maintenance except for engineering, which is recorded in the General Fund. By State law, Colorado counties are required to maintain a Road and Bridge Fund and a portion of road and bridge taxes is allocated to cities and towns for use in their road and street activities. The Social Services Fund administers human services programs under state and federal regulations. Programs include, but are not limited to, Medicaid, Food Stamps, foster care programs, and Temporary Assistance to Needy Families (TANF) . Colorado counties are required by state law to maintain a Social Services Fund. The Human Services Fund primary programs are associated with the Workforce Investment Act (WIA) funded under the Department of Labor, Employment and Training Administration. They also administer all the Head Start programs. The Capital Expenditures Fund accounts for all the County's construction projects. The County chooses to use the pay as you go plan instead of debt. Property taxes are used to fund the Law Enforcement Center and the expansion of the Detention Center. The County reports the following major enterprise fund: The Paramedic Fund operates the paramedic services for the County, which is primarily funded by revenues for services rendered. The County also reports the following fund types: The Internal Service Funds account for the financing of goods or services provided by one department or agency to other departments or agencies of the County on a cost reimbursement basis. The County's internal service funds report on self-insurance programs for employee dental and vision benefits, risk management, unemployment, fleet services, telecommunications and acquisitions of real estate and construction of buildings used by County departments. The Agency Funds account for assets held by the County as an agent for individuals, private organizations and other governments. These funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. The Pension Trust Fund accounts for the activities of the Weld County Retirement Plan, which accumulates resources for pension benefit payments to qualified county employees. The Plan uses the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the period in which the contributions are due. Benefits and refunds are recognized when due and payable in accordance with terms of the Plan. 43 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 D. Assets, liabilities, and net assets or equity 1. Deposits and investments The Weld County Treasurer maintains a cash and investment pool that is available for use by all County funds except for some agency funds. Each fund's portion of this pool is displayed as "cash and cash equivalents" . Accrued interest receivable is displayed separately. The amount of interest gained through secured investments is credited to the County's General Fund per Colorado State Statutes, with the exception of the Conservation Trust, Capital Expenditures Fund, Liability Insurance Fund and E-911 Authority. "Cash and cash equivalents" for the General Fund Conservation Trust, Capital Expenditures Fund, Liability Insurance Fund and E-911 Authority are stated at fair value. Any bank accounts not maintained by the Treasurer are displayed as "Restricted Assets" within the appropriate fund and are stated at cost. The County considers cash and cash equivalents in proprietary funds to be cash on hand and demand deposits. In addition, because the treasury pool is sufficiently liquid to permit withdrawal of cash at any time without prior notice or penalty, equity in the pool is also deemed to be a cash equivalent. 2. Property Taxes: Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on December 15, 2003, and are payable either in two installments due on February 28 and June 15 or in full on April 30. The bill becomes delinquent on March 1, May 1, and June 16 and penalties and interest may be assessed by the County. The County, through the Weld County Treasurer, bills and collects its own property taxes, as well as property taxes of all other taxing authorities within the County. In accordance with Section 14-7 of the Weld County Home Rule Charter, all ad valorem tax levies for County purposes, when applied to the total valuation for assessment of the County, shall be reduced so as to prohibit the levying of a greater amount of tax revenue than was levied from ad valorem taxation in the preceding year plus five percent (5%) , except to provide for the payment of bonds and interest. The Board of County Commissioners may submit the question of an increased levy to the County Council and, if in the opinion of a majority of the County Council may grant an increased levy for the County in such amount as it deems appropriate, and the County is authorized to make such increased levy. Any one capital project requiring a capital expenditure out of funds procured by ad valorem taxation equal to a three mill levy for three years, shall be prohibited unless approved by a majority vote of the qualified electors at a general or special election per Section 14-8 of the Weld County Home Rule Charter. 3. Interfund Transactions Transactions between funds that would be treated as revenues, expenditures, or expenses if they involved organizations external to the County are accounted for as revenues, expenditures, or expenses in the funds involved. Transactions which constitute reimbursements of a fund 44 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 for expenditures or expenses initially made from that fund which are properly applicable to another fund are recorded as expenditures or expenses in the reimbursing fund and as reductions of the expenditure or expense in the fund that is reimbursed. At year end, outstanding balances between funds are reported as "due to/from other funds" . Interfund balances are generally expected to be repaid within one year of the financial statement date. Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as "internal balances" . 4. Inventories and Prepaid Items Inventories of governmental funds, which consist of expendable materials held for consumption, are stated at cost utilizing the weighted average cost method. These funds follow the consumption method of accounting whereby expenditures are recorded at the time the inventory items are used. Inventories of proprietary funds are recorded at average cost. Certain payments to vendors reflect cost applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements. The reserve for emergencies as required by Section 20 to Article X of the Colorado Constitution, also known as the Taxpayer's Bill of Rights (TABOR) is classified as restricted assets on the balance sheet. 5. Capital Assets Capital assets, which include property, plant equipment, and infrastructure assets (e.g. , roads, bridges and similar items) , are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets are defined by the County as assets with an initial, individual cost of more than $5, 000 and a useful life of more than one year. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets are recorded at estimated fair market value at the date of donation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets' lives are not capitalized. All reported capital assets, except for gravel roads are depreciated. Improvements are depreciated over the remaining useful lives of the related capital assets. Depreciation on all assets is provided on the straight-line basis over the following estimated useful lives: Buildings 20-50 years Improvements 20 years Infrastructure - Bridges 50 years Infrastructure - Roads 20 years Equipment 3-5 years Heavy Equipment 10-20 years 45 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Statement 34 allows an alternative approach which would reflect a reasonable value of the asset and the cost incurred to maintain the service potential to locally established minimum standards in lieu of depreciation. To elect this option, the County must develop and implement an asset management system which measures, at least every third year by class of asset, if the minimum standards are being maintained. Related disclosures are additionally required as part of the Required Supplementary Information. The County has elected to use the alternative approach only for gravel roads. 6. Compensated Absences County employees accumulate sick leave and vacation benefits at rates of 8 hours per month and 8 to 16 hours per month, respectively, depending on length of service. In the event of retirement or termination, an employee is paid 100% of accumulated vacation pay. An employee whose date of hire is prior to January 1, 1985, is paid for 50% of accumulated sick leave hours up to the equivalent of one month; if the employee's date of hire is after January 1, 1985, no sick leave is paid upon retirement or termination. Up to 320 hours of annual vacation may be carried over from one year to the next. Compensatory time is granted (except for official, professional, and administrative positions) at the rate of one and one-half hours for each overtime hour worked, not to be accumulated in excess of forty hours. The unpaid sick leave, vacation pay and related benefits at the end of the period will generally not be paid with expendable and available resources. Proprietary funds accrue sick leave, vacation pay and related benefits in the period they are earned by the employees. The entire compensated absence liability is reported on the government- wide financial statements. 7. Long-term obligations In the government-wide financial statements and proprietary fund types in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net assets. 8. Fund Equity In the fund financial statements, governmental funds report reservations of fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Designations of fund balance represent tentative management plans that are subject to change. Reserves for the County of Weld are recorded up to the maximum equity available in fund balance and consist of: Reserved for Encumbrances: These reserves are established to record purchase orders and commitments outstanding for which the related goods/services have 46 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 not been received at year end. The reserves recorded at December 31, 2003, include $225,202, $1, 152, 941 and $667,828 for the General Fund, Special Revenue Funds, and Capital Expenditures Funds, respectively, for a total of $2,045, 971. Reserved for Other Assets: These reserves are established to record all prepaid items. Recorded reserves at December 31, 2003, are $39,683 and $6, 107 for the General Fund and Special Revenue Funds respectively, for a total of $45,790. Reserved for Inventories: These reserves are established to record the total level of supply inventories. Recorded reserves at December 31, 2003, are $92,484 and $839,242 for General Fund and Special Revenue Funds respectively, for a total of $931, 726. Reserved for Advances: These reserves are established to record the total advance between funds. Reserve at December 31, 2003, is $985,000, all recorded in General Fund. Designated Fund Balance: Fund balance designated for subsequent year's expenditures represents fund balance commitments for appropriated expenditures in excess of anticipated revenue for the year ended December 31, 2004 . 9. Net Assets Net assets represent the difference between assets and liabilities. Net assets invested in capital assets, net of related debt consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowing used for the acquisition construction of improvements of those assets. Net assets are reported as restricted when there are limitations imposed on their use either through the enabling legislation adopted by the County or through external restrictions imposed by creditors, grantors, laws or regulations of other governments. The County first applied restricted resources when an expense is incurred for purposes for which both restricted and unrestricted net assets are available. 10. Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. 47 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Note 2 - Stewardship, Compliance, and Accountability A. Budgetary information An annual budget and appropriation ordinance is adopted by the Board of County Commissioners in accordance with the Colorado State Budget Act and Weld County Home Rule Charter. The budget is prepared on a basis consistent with generally accepted accounting principles. Budgets are established for all Governmental funds, Internal Service funds and the Enterprise Fund. The accounting system is employed as a budgetary management control device during the year to monitor the individual departments. The fund level is the level of classification at which expenditures may not legally exceed appropriations, except for the General Fund where the department level of expenditures cannot legally exceed appropriations. During the year, several supplemental appropriations were necessary. All annual appropriations lapse at year end. The Director of Finance and Administration is authorized to transfer budgeted amounts within departments of each fund. Any revisions that alter the total appropriation for a fund or for any General Fund department must be approved by the County Commissioners through a supplemental appropriation ordinance. During 2003, two supplemental appropriation ordinances were enacted. Budget amounts reported in the accompanying financial statements reflect these supplemental appropriations. B. Excess of expenditures over appropriations Paramedic Fund (an enterprise fund) has excesses of expenditures over appropriations. These over expenditures were funded by greater than anticipated revenues and from advances from the General Fund, and will be corrected in 2004. Housing Authority and E-911 Authority (component units) both had expenditures over appropriations. These expenditures were funded by greater than anticipated revenue. Excesses of expenditures over appropriations in General Fund departments can be seen by unfavorable variances in the expenditures section of the Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual. Weld Finance Corporation (an internal service fund) has a deficit balance at December 31 of $1, 045,754 . The deficit will be recovered through future operations. Note 3 - Equity in Pooled Cash and Investments: The County maintains a cash and investment pool that is available for use by all funds. The cash and investment pool is under the custody of the County Treasurer. Several of the County's funds also hold investments on their own account, some of which are restricted assets. Each fund' s 48 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 share of the cash and investment pool, as well as non-pooled cash and investments, is displayed on the balance sheets as "Cash and Short-term Investments." Substantially all cash and investments of the Pension Trust Fund are held separately from those of the other County funds. If a fund overdraws its share of a pooled cash account, the overdraft is reported as an interfund receivable/advance to other fund in the General Fund with an offsetting interfund payable in the overdrawn fund. Deposits: Colorado State Statutes, specifically the Public Deposit Protection Act of 1989, require all public monies to be deposited in financial institutions which have been designed as eligible public depositories. Eligible public depositories must pledge eligible collateral, as promulgated by the State banking board, having a market value in excess of one hundred two percent of the aggregate uninsured public deposits. Eligible collateral must be held in the custody of any federal reserve bank or any branch thereof, or of any depository trust company which is a member of the federal reserve system and which is supervised by the State banking board. The Statutes further restrict such deposits to eligible public depositories having their principal offices within the State of Colorado. The bank balances of the County' s pooled and non-pooled deposits are categorized by level of risk as follows : Category A (the least level of risk) includes deposits with financial institutions that are insured by the Federal Deposit Insurance Corporation (FDIC) , with securities held by the County or its agent in the County's name; Category B includes uninsured deposits collateralized with securities held by the pledging financial institution's trust department or agent in the County' s name, including those collateralized in accordance with the Public Deposit Act of 1989; and Category C (the highest level of risk) includes uninsured or uncollateralized funds held by the pledging financial institution, or by its trust department or agent but not in the County' s name, that could be lost if the financial institution fails. Categorized deposits at December 31, 2003 are as follows: Category Bank Carrying A B Balance Amount Primary Government: Pooled Deposits $ 100,000 $ 10,532,006 $ 10,632,006 $ 11,477,539 Demand Deposits Certificates of Deposit 1,000,000 13,452,517 14,452,517 14,452,517 Total Pooled Deposits $ 1,100,000 $ 23,984,523 $ 25,084,523 $ 25,930,056 Total Deposits S 1.100.000 5 23.984.5'.3 $ 25 084.523 S 25.930.056 Component Unit: Pooled Deposits Certificates of Deposit $ 1.100.000 $ 23.984,523 $ 25.084.523 $ 25.930.056 49 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 All deposits made by the County Treasurer in 2003 were done so in eligible public depositories, as defined by the Public Deposit Protection Act of 1989. Investments: Colorado State Statutes authorize the County to invest in U.S. Treasury bills, notes, and bonds, U.S. government agency securities, general obligations and revenue bonds of any state, commercial paper, money market funds, repurchase agreements, and local government investment pools. At December 31, 2003, the County held investments in the following local government investment pools the Colorado Surplus Asset Fund Trust (CSAFE) , the Colorado Diversified Trust (CDT) , and the Colorado Local Government Liquid Asset Trust (COLOTRUST) , which are 2a7- like investment pools. Investments are valued at amortized cost with each share valued at $1. The investment pools are routinely monitored by the Colorado Division of Securities with regard to operations and investments. All securities owned by each pooled investment are held by the Federal Reserve Bank in the account maintained for the custodial bank. The custodian's internal records identify the investments owned by each pool investor. The Weld County Retirement Plan contractually delegates investment management to investment managers. The County' s investments are categorized by level of risk as follows: Category A (the least level of risk) includes investments that are insured or registered or for which the securities are held by the County or its agent in the County' s name; Category B included uninsured or unregistered investments for which the securities are held by the counter party's trust department in the County's name; and Category C (the highest level of risk) included uninsured or unregistered investments for which the securities are held by the counter party or by its trust department or agent but not in the County's name and that portion of the carrying amount of any repurchase agreement that exceeds the market value of the underlying securities. The County's investments in local government investment pools and money market funds cannot be categorized by level of risk because they are not evidenced by specific securities due to the nature of an investment pool. The retirement plan and deferred compensation plan investments also cannot be categorized since the specific securities belonging to Weld County cannot be identified. 50 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Fair Value/ Category Carrying B Amount Cost Primary Government: Pooled Investments: U.S. Government Agency Notes $ 21.857.628 $ 21,857,628 $ 21,905,915 Local Government Investment 2,541,846 2,541,846 Total pooled investments 24,399,474 24,447,761 Money Market Funds - Finance 4,774 4,774 Money Market Funds - Retirement 694,489 694,489 Mutual Funds - Retirement Plan 88,229,384 85,478,687 Total $ 88.928.647 186.177.950 51 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Note 4 - Interfund Transactions Due to/from other funds: The county reports interfund balances between many of its funds. Some of the balances are considered immaterial and are aggregated into a single column or row. The sum of all balances presented in the table agrees with the sum of interfund balances presented in the balance sheet for governmental and proprietary funds. The balances resulted from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds are made. Interfund balances are generally expected to be repaid within one year of the financial statement date. Receivable Fund Payable Fund Amount General Fund Public Works $ 2,472 Social Services Fund 111, 016 Human Services Fund 1,768 Non-Major Governmental 1, 076 Internal Service Funds 11 Enterprise Fund 82 Public Works Social Services Fund 106,003 Human Services Social Services Fund 178,437 Internal Service General Fund 51, 075 Public Works 109, 599 Social Services Fund 24, 006 Human Services Fund 21,671 Non-Major Governmental $ 1,642 $ 608, 858 Advances from/to other funds: The balance of $985,000 advances to Paramedic Fund for the General Fund resulted from general operating needs with the decrease of Medicaid reimbursement for services. Receivable Fund Payable Fund Amount General Fund Enterprise Fund - Paramedic $ 985, 000 52 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Transfers in/out: Transfers are indicative of funding for capital projects or subsidies of various County operations and re-allocation of special revenues. The following schedule briefly summarizes the County's transfer activity: Transfers In Human Non-Major Services Governmental Total Transfers Out: General Fund $ 12,351 $1,763, 017 $1,775,368 Non-Major 707,377 707,377 Total $ 12,351 $2,470,394 $2,482,745 The County also had noncash transfers. Contribution of capital assets from (to) government: Paramedic Services $ (5, 073) , Internal Service Funds $ (957,570) . Note 5 - Allowance for Uncollectible Accounts Receivable: The allowance for uncollectible receivables consists of the following a December 31, 2003 : Allowance for Fund Type Uncollectible General $ 40,664 Special Revenue 123,304 Capital Expenditures 4, 139 Enterprise 956,449 Internal Service 783 Total $ 1, 125,339 53 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31,2003 Note 6-Capital Assets: Capital asset activity for the year ended December 31,2003,was as follows: Balance Balance 01/01/03 Additions Deletions Transfers 12/31/03 Governmental activites Capital Assets not being depreciated Land $ 5,643,990 $ 1 $ - $ - $ 5,643,991 Gravel Roads 7,025,096 21,376 52,277 - 6,994,195 Construction in progress 7,009.432 350.652 - (7,009.432) 350.652 Total capital assets not being depreciated 19,678,518 372.029 52,277 (7,009,4321 12,988,838 Capital assets being depreciated: Buildings 55,734,950 5,423,593 299,838 7,009,432 67,868,137 Improvements 4,504,333 208,039 - - 4,712,372 Equipment 32,203,175 5,024,752 2,085,447 - 35,142,480 Infrastructure 302,338.163 2.813,393 212.292 - 304.939.264 Total capital assets being depreciated 394,780,621 13,469,777 2.597,577 7.009,432 412.662,253 Less accumulated depreciation Buildings 15,575,062 1,426,327 110,779 - 16,890,610 Improvements 1,036,158 140,169 - - 1,176,327 Equipment 17,821,761 3,145,554 1,709,717 - 19,257,598 Infrastructure 119,734.221 14,161,606 102.750 - 133.793,077 Total accumulated depreciation 154.167,202 18.873.656 1,923.246 - 171.117,612 Total capital assets being depreciated,net 240.613,419 (5,403,879) 674.331 7.009,432 241,544.641 Governmental activities capital assets,net $ 260 291 937 $(5 031 8501 $ 726 608 $ $ 254.59347$ Business-type activities: Capital Assets not being depreciated Land $ 48,496 $ - $ - $ - $ 48.496 Capital assets being depreciated: Buildings 656,305 - - - 656,305 Improvements 55,728 - - - 55,728 Equipment 1,037.553 109,887 74,568 - 1,072,872 Total capital assets being depreciated 1,749.586 109.887 74,568 - 1.784.905 Less accumulated depreciation Buildings 224,986 21,566 - - 246.552 Improvements 27,297 5,573 - - 32,870 Equipment 604,750 189.512 74.568 - 719.694 Total accumulated depreciation 857.033 216.651 74.568 - 999.116 Total capital assets being depreciated,net 892.553 (106.7641 - - 785.789 Business-type activities capital assets,net $ 941 049 $ (106 764) $ - $ - $ 834 285 54 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Depreciation expense was charged to functions/programs of the primary government as follows: Governmental activities: General government $ 4, 120, 082 Public safety 463, 822 Streets and highways 14,279,279 Culture and recreation 11,431 Economic assistance 3, 960 Health and welfare 424, 625 Total depreciation expense-governmental activities $ 19,303, 199 Business-type activities Paramedic Service $ 216,652 Note 7 - Risk management and insurance: The County is exposed to various risks of loss related to torts; theft of, damage to, or destruction of assets; and errors or omissions. (See Note 11) These activities are accounted for in the Insurance Fund, an internal service fund. A liability for a claim is established if information indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss is reasonably estimable. Insurance coverages have not been significantly reduced from prior years and settlements have not exceeded insurance coverage in the past three years. The County manages risks of loss through a combination of commercial insurance, participation in a public entity risk pool, (See Note 1) and self-insurance. These activities are accounted for in the Insurance Fund, an internal service fund. The County provides dental and vision insurance benefits to employees, which are funded by employee contributions. These activities are accounted for in the Health Insurance Fund, an internal service fund. Workers' Compensation coverage is partially self-insured, with insurance coverage of a $300,000 self-insured retention. Estimated liabilities for claims made and claims incurred but not reported (IBNR) at year-end are shown as accrued liabilities in the fund. These estimates are based upon a third-party administrator' s review of claims and actuarial projections from historical claims data. Changes in the balances of claims liabilities during the current and prior years are as follows: 55 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 2002 2003 Unpaid Claims - Beginning $ 332,067 $ 361,496 Incurred Claims (Includes IBNR'S) 711,674 981,805 Claims Paid (682,245) (836,494) Unpaid Claims - Ending $ 361.496 c 506,807 The Insurance Internal Service Fund provides protection against losses involving County property, equipment, and liability. Reserves within the fund support higher deductible or self-insured retention level against loss. Payments to CCAPP for coverage under the insurance pool are shown as expenses in the Insurance Internal Service Fund. Estimated liabilities under the $125,000 self-insured retention for claims made and claims incurred but not reported (IBNR) at year-end are shown as accrued liabilities in the fund. These estimates are based upon CAPP's claim administrator's review of claims and actuarial projection from historical claims data. Changes in the balances of claims liabilities under the $125, 000 self-insured retention during current and prior years are as follows: 2002 2003 Unpaid Claims - Beginning $ 59,002 $ 95,687 Incurred Claims (Includes IBNR's) 105,529 256,770 Claims Paid (68,845) (275,762) Unpaid Claims - Ending 5 95,687 $ 76.695 The Health Insurance Internal Service Fund covers the county's dental and vision reimbursement plan. The plan is not an insurance program, but rather an employee reimbursement plan that closes out each year on December 31, for services received on or before that date. No outstanding claims or incurred but not reported liabilities exist for year-end. The health insurance plan is fully insured. Note 8 - Operating Leases: The reporting entity has entered into a number of operating leases which contain cancellation provisions and are subject to annual appropriations. For the reporting period, rent payments approximated $497,685 for all types of leases. These expenditures were made primarily from the General, Public Works and Social Services Funds. 56 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Note 9 - Long-Term Debt: Long-term debt consists of the following at December 31, 2003 : Internal Service Fund: Certificates of participation $ 6,790, 000 Less uncredited discount 21,398 Certificates of participation - net $ 6,768, 602 Certificates of participation represent debt of the Weld County Finance Corporation, an Internal Service Fund and are not general obligations of the County. The certificates were issued to finance the construction of buildings leased to the County under annually renewable operating leases. The debt of the Weld County Finance Corporation is payable from lease payments received from the County. The certificates bear interest at rates ranging from 3.80% to 7.30% per annum and mature in increasing annual amounts through 2016. Series 1997 certificates maturing in 2008 or after are callable for redemption prior to maturity in whole or in part at the option of the County in 2007. Future debt service requirements for the certificates of participation are as follows: Year Principal Interest Total 2004 $ 380,000 $ 360, 133 $ 740, 133 2005 400, 000 341, 893 741, 893 2006 420,000 322,293 742,293 2007 440, 000 301,293 741,293 2008 460,000 278, 853 738,853 2009-2013 2,695, 000 1, 003,253 3,698,253 2013-2016 1, 995, 000 223,300 2,218, 300 Total $ 6. 790,000 2, 831. 018 $ 9, 621,018 Weld County has no general bonded indebtedness. In accordance with Section 30-35-201 CRS, 1973, the County's general bonded indebtedness is limited to 3% of the assessed valuation, or $74,622, 712 at December 31, 2003. The County has issued industrial revenue bonds for the purpose of financing capital projects of several private enterprises. Under terms of a financing agreement, the bonds are sold to a bank, the private 57 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 enterprise assumes full responsibility for repayment of the debt, and the County is released from any liability for repayment. Industrial revenue bonds outstanding as of December 31, 2003 totaled $8,513,226. Changes in long-term liabilities Long-term liability activity for the year ended December 31, 2003, was as follows: Beginning Ending Due Within Balance Additions Reductions Balance One Year Governmental activities: Certificates of participation $ 7,150,000 $ 0 $ 360,000 $ 6,790,000 $ 380,000 Compensated absences General Fund 1,057,989 62,383 47,802 1,072,570 61,452 Public Works 311,901 23,429 5,212 330,118 14,364 Social Services 302,318 33,867 3,157 333,028 21,864 Public Health 121,692 5,826 1,268 126,250 8,248 Total governmental $ 8,1;3.900 $___125.505 $ 417.439 $ 8.65_3,966 $ 485.928 Note 10 - Weld County Retirement Plan: Plan Description: The Weld County Retirement Plan ("Plan") is a single-employer, defined benefit pension plan administered by a five-member retirement board. The plan provides retirement, disability and death benefits to plan members and beneficiaries at the discretion of the Retirement Board. The Retirement Board and the Board of Commissioners maintain the authority to establish and amend benefit provisions of the Plan. The Retirement Board issues a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained by contacting the County of Weld, State of Colorado. Funding Policy: The contribution requirements of plan members and the County are established and maintained by the Board of Commissioners. Plan members are required to contribute 6% of their annual covered payroll. The County is required to contribute at an actuarially determined rate; the current rate is 6% of annual covered payroll. 58 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Annual Pension Cost and Net Pension Obligation; The County's annual pension cost and net pension obligation to the Plan the current year were: Annual Required Contributions $ 2,734,414 Interest on net pension obligation (139,839) Annual Pension Cost 2,594,575 Contributions made 2,182,671 Increase (decrease) in net pension obligation 411,904 Net pension obligation beginning of year (1,747,884) Net pension obligation end of year 5 (1.335.980) The annual required contribution for the current year was determined as part of the January 1, 2002 actuarial valuation using the entry age actuarial cost method. The actuarial assumptions included (a) 8% investment rate of return (net of administrative expenses) and (b) projected salary increases ranging from 5.3% to 8.5% per year. Both (a) and (b) included an inflation component of 3 .5%. The assumptions also include post-retirement benefit increases of 2%. The actuarial value of assets was determined using techniques that smooth the effects of short- term volatility in the market value of investments over a five-year period. The unfunded actuarial liability is being amortized as a level percentage of projected payroll on a closed basis. The remaining amortization period at January 1, 2002, was 30 years. Three-Year Trend Information: Fiscal Year Annual Percentage of Net Pension Ended Pension APC Contributed Obligation Cost (APC) December 31, 2001 1,503,391 128.1% (1,517,648) December 31, 2002 1,864,733 112.3% (1,747,883) December 31, 2003 2,594,575 84.1% (1,335,980) Note 11 - Commitments and Contingencies: Commitments At year-end there was still construction in progress which consisted of the renovation of the County Courthouse to add a courtroom. Construction costs totaled $513,635, with $225, 723 on the courthouse remodel. Colorado voters passed an amendment to the State Constitution, Article X, Section 20, which has several limitations, including revenue raising, spending abilities, and other specific requirements of state and local governments. The Amendment is complex and subject to judicial interpretation. The entity believes it is in compliance with the requirements of the amendment. However, the entity has made certain interpretations of the amendment's language in other to determine its compliance. 59 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 The County participates in a number of federal and state grant programs. Principal funding agencies include Department of Labor, Community Services Administration, Department of Health and Human Services, Department of Housing and Urban Development, Economic Development Agency, and Area Agency on Aging. These programs are subject to program compliance audits by the grantors or their representatives. The amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time, although the County expects such amounts, if any, to be immaterial. Note 12 - Public Trustee: Pursuant to an act of the Colorado General Assembly, the Weld County Public Trustee is to be deemed an agency of the County for the purpose of financial reporting. Related activity has been reported in the General Agency Fund, with the following activity identified strictly for the office of the Public Trustee as of and for the year ended December 31, 2003 : Assets $ 686, 949 Liabilities 5,018 Fund Balance 681, 931 Additions 1, 192, 051 Deductions 1,334,842 In December 2003, the Public Trustee established a retirement plan under section 403 (a) of the Internal Revenue Code. The plan was established to cover three full-time employees and 16 total years of past service. The Public Trustee contributed $150,000 to the plan in 2003. The plan was established to provide benefits comparable to the County's plan. 60 COUNTY OF Weld County STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 2003 Note 13 - Non-Cash Activity in Social Services Fund Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures For the Year Ended December 31, 2003 A B C D E County Share County EBT Total County EBT Of Expenditure By Authorizations Expenditures Program Authorizations Authorizations County Warrant plus (Col. B + col. C) Expenditures by County Warrant (Col. A + col. C) Old Age Pension $ 2,602,132 $ 4,911 $ 103,184 $ 2,705,316 $ 108,095 Low-Income Energy Assistance Program 933,737 0 111,670 1,045,407 111,670 Temporary Assistance For Needy Families 961,017 742,897 1,413,909 2,374,926 2,156,806 Regular Administration 13,749 2,750 2,300,489 2,314,238 2,303,239 CWEST/Child Welfare 10,261,499 2,588,399 3,871,338 14,132,837 6,459,737 Core Services 0 0 748,702 748,702 748,702 Aid to the Needy Disabled 427,312 70,532 (35,048) 392,264 35,484 IV-D Administration 0 0 1,614,082 1,614,082 1,614,082 CHATS/Child Care 4,637,437 533,049 360,115 4,997,552 893,164 Medicaid Transportation 0 0 753 753 753 General Assistance 0 0 125,279 125,279 125,279 Subtotal 19,836,883 3,942,538 10,614,473 30,451,356 14,557,011 Food Assistance 7,344,214 0 (180) 7,344,034 (180) Total $ 27,181,097 $ 3,942,538 $ 10,614,293 $ 37,795,390 $ 14,556,831 A. Welfare payments authorized by the Weld County Department of Social Services. These County authorizations are paid by the Colorado Department of Human Services by QUEST debit cards or by electronic benefits transfer (EBT) . B. County share of EBT authorizations. These amounts are settled monthly by a reduction of State cash advances to the county. C. Expenditures made by county warrants or other county payment methods. D. This represents the total cost of the welfare programs that are administered by Weld County. E. This total matches the expenditure on the Social Services Fund - Statement of Revenues, Expenditures and Changes in the Fund Balance. 61 � 7 vP . �1 Wilk COLORADO I - Required Supplementary Information s . � AAc tat COUNTY OF Weld County STATE OF COLORADO Year Ended December 31, 2003 Schedule of Funding Progress Actuarial Actuarial Actuarial Unfunded Funded Covered UAAL as a Valuation Value of Accrued AAL (UAAL) Ratio Payroll Percentage Date Assets Liability (b-a) (a/b) of (a) (AAL) Covered Entry Age Payroll (b) (b-a)/c] 1/1/97 $52,113,121 $ 56,478,086 $ 4,034,963 92.8% $22,728,155 17.8% 1/1/98 $58,256,392 $ 61,714,771 $ 3,458,379 94.4% $24,902,505 13.9% 1/1/99 $64,835,754 $ 68,518,936 $ 3,683,182 94.6% $27,741,047 13.3% 1/1/00 $73,496,057 $ 74,091,851 $ 595,794 99.2% $29,265,761 2.0% 1/1/01 $81,331,388 $ 84,625,354 $ 3,293,966 96.1% $30,909,895 10.7% 1/1/02 $87,357,656 $ 93,322,664 $ 5,965,008 93.6% $33,405,430 17.9% 1/1/03 $87,140,219 $100,581,108 $13,440,889 86.6% $36,205,613 37.1% 63 COUNTY OF WELD STATE OF COLORADO Required Supplementary Information Modified Approach for Infrastructure Assets Weld County prepares an annual gravel road plan. In doing this each of the sections of gravel roads has been evaluated by supervisors. They use the State guidelines as out lined in Section 43-2-120(5)(a-b), C.R.S. 1973, which is stated below. Since gravel roads condition can change quickly based on weather conditions the road plan may have to be modified to take care of such problems. Therefore,an official road maintenance system is difficult to put in place. It is the County's policy to maintain the roads in fair or better condition. 2002 Condition Miles of Road %of Total Good 2249.90 93.0% Fair 159.25 6.6% Poor 9.75 0.4% • Comparison of Estimated-to-Actual Maintenance/Preservation 2002 2003 2004 Estimated $1,450,400 $1,464,400 $1,643,167 Actual $1,338,087 $1,521,710 Gravel Roads-Surface Condition Rating Criteria Section 43-2-120(5)(a-b),C.R.S. 1973,gives the following guidelines pertaining to the condition criteria on gravel roads. Good Surface Condition • There is adequate width for safe passage of large vehicles. • Graded to a uniform cross-section,having a crown and ditches to provide good drainage. • The surface is smooth with no washboards,rutting or soft areas;vehicles can safely travel at the posted speed limit. • There is adequate gravel uniformly spread across the surface. • During periods of wet weather,roads will support traffic. Fair Surface Conditions • Adequate width for safe passage of cars and pickup trucks. • Cross-section may vary;the crown is not consistent;ditches and drainage are not adequate. • The surface has occasional washboards and ruts but irregularities do not interfere with safe vehicle operation at the speed limit. • Gravel is present,but lacking in the wheel paths or in short stretches. • During periods of wet weather,puddles develop;the road is slippery but will support normal traffic. Poor Surface Condition • Two cars cannot safely pass. • Cross-section varies. There is no crown or ditches,and water does not drain from the road. • The surface has washboards,ruts, soft areas;vehicles must slow to less than the speed limit. • Gravel is sparse or does not exist. • During periods of wet weather,cars cannot safely travel. 64 Required Supplementary Information Other Than MD&A INFORMATION COUNTY OF WELD STATE OF COLORADO General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Taxes: General property taxes $ 34,060,122 $ 34,060,122 $ 33,942,206 $ (117,916) Severance tax 60,000 60,000 14,778 (45,222) Tobacco products 80,000 67,000 91,984 24,984 Penalties & interest - 80,000 81,150 1,150 Property tax adjustment (619,974) (619,974) (619,974) - Total Taxes 33,580,148 33,647,148 33,510,144 (137,004) Licenses and Permits Liquor licenses 3,800 3,800 5,441 1,641 Planning permits 475,000 475,000 430,422 (44,578) Building permits 800,000 1,000,000 941,576 (58,424) Electrical permits 125,000 150,000 157,053 7,053 Total Licenses and Permits 1,403,800 1,628,800 1,534,492 (94,308) Intergovernmental: Federal grants - 254,000 298,119 44,119 Payment in lieu of taxes 2,000 2,000 - (2,000) State grants 3,182,878 4,902,878 5,051,344 148,466 Other governmental units 29,890 29,890 182,358 152,468 Cities and towns 700,000 776,562 720,414 (56,148) Total Intergovernmental 3,914,768 5,965,330 6,252,235 286,905 Charges for Service: Plan checking fees 300,000 400,000 399,235 (765) Charges for services 1,603,632 1,757,632 2,031,132 273,500 • Sale of supplies 65,350 77,350 69,937 (7,413) Parking 13,000 13,000 13,272 272 Total Charges for Services 1,981,982 2,247,982 2,513,576 265,594 Fines and Forfeitures: Property forfeitures/evidence 5,000 5,000 51,862 46,862 Fines (drunk drivers) 35,000 35,000 23,626 (11,374) Total Fines and Forfeitures 40,000 40,000 75,488 35,488 Miscellaneous: Miscellaneous 1,050,646 1,409,646 2,097,019 687,373 Interest 1,200,000 1,200,000 1,331,223 131,223 Rents from buildings 138,154 138,154 146,251 8,097 Royalties 150,000 410,000 434,203 24,203 Sales of assets - 15,000 15,000 - Total Miscellaneous 2,538,800 3,172,800 4,023,696 850,896 65 COUNTY OF WELD STATE OF COLORADO General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES (CONTINUED) Fees: Clerk & Recorder fees 5,264,000 6,565,570 6,582,810 17,240 Treasurer's fees 30,000 30,000 1,640 (28,360) Cable fees 38,000 43,000 43,338 338 Total Fees 5,332,000 6,638,570 6,627,788 (10,782) Total Revenues 48,791,498 53,340,630 54,537,419 1,196,789 EXPENDITURES General Government: Office of the Board 534,806 534,806 536,213 (1,407) County Attorney 582,345 605,345 592,123 13,222 Public Trustee 4,800 6,800 5,056 1,744 Planning and zoning 866,104 805,104 752,266 52,838 Clerk to the Board 154,786 174,786 167,561 7,225 County Clerk 669,830 927,830 744,022 183,808 Elections and registration 552,803 522,803 542,485 (19,682) Motor vehicle 1,176,139 1,295,139 1,222,135 73,004 County Treasurer 614,872 606,122 625,807 (19,685) County Assessor 2,112,359 2,167,359 2,033,809 133,550 Maintenance of buildings/grounds 3,521,876 3,971,876 3,428,791 543,085 County Council 26,709 26,709 11,810 14,899 District Attorney 3,003,648 3,184,648 3,037,549 147,099 Juvenile Diversion Grant 320,142 248,142 277,492 (29,350) Victim Assistance 288,325 296,325 812,112 (515,787) Financial administration 304,230 346,230 315,727 30,503 General accounting 536,564 481,564 471,097 10,467 Purchasing 106,653 111,653 105,456 6,197 Personnel 424,945 495,945 470,984 24,961 Geographical Information Systems 372,414 372,414 316,501 55,913 Computer Services 1,503,437 1,503,437 3,900,301 (2,396,864) Printing and Supply 227,029 292,029 253,873 38,156 Total General Government 17,904,816 18,977,066 20,623,170 (1,646,104) (CONTINUED) 66 COUNTY OF WELD STATE OF COLORADO General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance EXPENDITURES (CONTINUED) Public Safety Sheriff administration 1,107,265 1,148,265 1,062,448 85,817 Crime control and investigations 4,584,381 4,889,381 5,003,113 (113,732) Traffic control 441,714 536,714 522,617 14,097 Task force 153,484 153,484 126,278 27,206 Regional forensic laboratory 129,526 187,526 173,494 14,032 Communications services 1,137,663 1,172,663 1,164,258 8,405 Communication system development - 300,000 768,750 (468,750) E-911 administration 700 700 - 700 Criminal justice 1,701,824 1,701,824 1,707,496 (5,672) County Coroner 370,580 415,580 410,622 4,958 Correctional administration 9,476,334 10,457,334 10,174,898 282,436 Community correction 2,869,355 2,869,355 2,900,908 (31,553) Building inspection 1,128,805 1,088,805 1,022,903 65,902 Office of emergency management 98,011 98,011 185,790 (87,779) Waste water management 9,748 9,748 9,748 - Animal control 215,737 244,737 226,980 17,757 Pest/weed control 325,234 335,870 308,166 27,704 West Nile 700,000 743,233 728,813 14,420 Solid waste - - - - Total Public Safety 24,450,361 26,353,230 26,497,282 _ (144,052) Public Works: General engineering 857,546 830,118 744,111 86,007 Extension services 353,326 353,326 333,733 19,593 ' Veteran office 59,433 59,433 54,351 5,082 Airport 47,222 62,222 64,485 (2,263) Total Public Works 1,317,527 1,305,099 1,196,680 108,419 Public Health and Welfare: Mental health 135,875 91,875 91,875 - Developmentally disabled 46,125 46,125 46,125 - Seniors program 12,500 12,500 12,500 - Economic development 100,000 1,370,000 1,250,430 119,570 A Kid's Place 8,250 9,750 9,750 - Total Public Health and Welfare 302,750 1,530,250 1,410,680 119,570 Culture and Recreation: Missile site park 54,596 67,596 52,483 15,113 County fair 52,661 306,661 363,411 (56,750) Total Culture and Recreation 107,257 374,257 415,894 (41,637) 67 COUNTY OF WELD STATE OF COLORADO General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance EXPENDITURES (CONTINUED) Miscellaneous: Other 308,500 580,980 780,426 (199,446) Building rents 460,000 460,000 435,908 24,092 Total Miscellaneous 768,500 1,040,980 1,216,334 (175,354) Capital Outlay: Capital purchases 1,680,395 4,297,086 2,124,713 2,172,373 Debt Services: Capital lease 377,233 377,233 377,233 - Total Expenditures 46,908,839 54,255,201 53,861,986 393,215 Other Financing Source (Use) Transfers - In: Transfers -Out: Appropriation Grants-In-Aid 2,175,368 1,775,368 1,775,368 - Total Other Financing Sources (Uses) (2,175,368) (1,775,368) (1,775,368) - Net Change in Fund Balance (292,709) (2,689,939) (1,099,935) 1,590,004 Fund Balance at Beginning of Year 6,169,611 6,169,611 6,169,611 - Fund Balance at End of Year $ 5,876,902 $ 3,479,672 $ 5,069,676 $ 1,590,004 68 fa :ri 11111De COLORADO 69 COUNTY OF WELD STATE OF COLORADO Public Works Fund Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES: Taxes: General property taxes $ 5,173,717 $ 5,173,717 $ 5,155,052 $ (18,665) Specific ownership taxes 5,500,000 5,500,000 5,539,628 39,628 Penalties & Interest - - 12,107 12,107 Total Taxes 10,673,717 10,673,717 10,706,787 33,070 Licenses and Permits Moving permits 200,000 200,000 226,054 26,054 Intergovernmental: Mineral leasing 150,000 150,000 118,395 (31,605) Grazing act 8,000 106,000 106,758 758 Payment in lieu of taxes 50,000 99,000 99,262 262 Grants 1,260,000 1,305,000 639,336 (665,664) Motor vehicle registration fees 309,000 309,000 319,404 10,404 Highway user tax fund 8,150,000 8,150,000 7,923,679 (226,321) Total Intergovernmental 9,927,000 10,119,000 9,206,834 (912,166) Charges for Services: Charges for services - 328,691 1,258,316 929,625 Fees: Other fees - - 756,649 756,649 Miscellaneous: Earnings on deposits - - 44,843 44,843 Special assessments - - 12,415 12,415 Miscellaneous 440,000 440,000 13,833 (426,167) Gain on sale of assets - - - - Recovery of losses 1,000 1,000 - (1,000) Total Miscellaneous 441,000 441,000 71,091 (369,909) Total Revenues 21,241,717 21,762,408 22,225,731 463,323 70 _. ...._._. . COUNTY OF WELD STATE OF COLORADO Public Works Fund Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance EXPENDITURES Public Works Bridge construction 2,466,495 2,506,495 2,404,268 102,227 Maintenance of condition 2,799,393 3,154,393 3,401,211 (246,818) Maintenance support 1,568,979 1,808,979 1,500,202 308,777 Trucking division 3,046,344 3,113,882 2,947,781 166,101 Mining division 1,619,007 1,754,261 1,535,738 218,523 Administration 701,001 766,001 963,464 (197,463) Other public works 8,197,769 9,113,955 6,086,349 3,027,606 Total Public Works 20,398,988 22,217,966 18,839,013 3,378,953 Intergovernmental: Grants-in-aid to cities/towns 1,301,729 1,301,729 1,296,220 5,509 Capital outlay 41,000 41,000 123,788 (82,788) Total Expenditures 21,741,717 23,560,695 20,259,021 3,301,674 Other Financing Sources (Uses): Transfers -Out: Total Other Financing Sources (Uses) - - - - Net Change in Fund Balance (500,000) (1,798,287) 1,966,710 3,764,997 Fund Balances at Beginning of Year 8,804,683 8,804,683 8,804,683 - Fund Balances at End of Year $ 8,304,683 $ 7,006,396 $ 10,771,393 $ 3,764,997 71 COUNTY OF WELD STATE OF COLORADO Social Services Fund Statement of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Taxes: General property taxes $ 3,666,586 $ 3,666,586 $ 3,655,385 $ (11,201) Penalties & Interest - - 8,891 8,891 Total Taxes 3,666,586 3,666,586 3,664,276 (2,310) Intergovernmental: Welfare 9,626,593 9,626,593 10,299,838 673,245 Miscellaneous: Earnings on deposits - - 3 3 Total Miscellaneous - - 3 3 Total Revenues 13,293,179 13,293,179 13,964,117 670,938 EXPENDITURES Public Health and Welfare: Administrative- regular 2,595,010 2,595,010 2,046,632 548,378 Administrative- IV-D 1,400,000 1,400,000 1,614,081 (214,081) Food stamps - - (178) 178 Employment first 250,000 250,000 265,111 (15,111) General assistance 132,000 132,000 125,279 6,721 AFDC 1,485,083 1,485,083 1,771,526 (286,443) AND -State 90,000 90,000 35,484 54,516 Child welfare 6,056,586 6,056,586 6,383,764 (327,178) Day care 1,062,000 1,062,000 893,165 168,835 Medicaid transportation - - 753 (753) 72 COUNTY OF WELD STATE OF COLORADO Social Services Fund Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance EXPENDITURES (CONTINUED): OAP -A 10,000 10,000 108,095 (98,095) Placement alternative care 1,377,500 1,377,500 748,702 628,798 Administrative- LEAP 130,000 130,000 112,158 17,842 LEAP - Program - - (488) 488 Total Public Health and Welfare 14,588,179 14,588,179 14,104,084 484,095 Capital Outlay 55,000 55,000 461,251 (406,251) Total Expenditures 14,643,179 14,643,179 14,565,335 77,844 Net Change in Fund Balance (1,350,000) (1,350,000) (601,218) 748,782 Fund Balances at Beginning of Year 2,517,668 2,517,668 2,517,668 - Fund Balances at End of Year $ 1,167,668 $ 1,167,668 $ 1,916,450 $ 748,782 73 COUNTY OF WELD STATE OF COLORADO Human Services Fund Statement of Revenues,Expenditures and Changes in Fund Balances-Budget and Actual For the fiscal year ended December 31,2003 Budgeted Original Final Actual Variance REVENUES Intergovernmental: Federal grants $ 8,829,649 $ 9,550,649 $ 9,253,657 $ (296,992) State grants 1,227,500 1,484,500 1,123,123 (361,377) Total Intergovernmental 10,057,149 11,035,149 10,376,780 (658,369) Charges for Services: Charges for services 375,000 555,000 860,288 305,288 Fees - - 2,767 2,767 Total Charges for Services 375,000 555,000 863,055 308,055 Miscellaneous: Donations from private sources 123,000 123,000 144,027 21,027 Other revenue 20,000 20,000 96,539 76,539 Total Miscellaneous 143,000 143,000 240,566 97,566 Total Revenues 10,575,149 11,733,149 11,480,401 (252,748) EXPENDITURES Economic Assistance: Human resources general fund - - 8,804 (8,804) Head start 3,006,000 3,086,000 2,949,606 136,394 Migrant head start 2,200,000 2,200,000 2,172,574 27,426 Preschool program 120,000 120,000 124,537 (4,537) FENWC carryover - - 32,000 (32,000) Job service 561,000 561,000 587,529 (26,529) Summer job hunt 17,000 20,000 19,144 856 Jobs/New directions - 20,000 25,126 (5,126) Employment first 163,000 163,000 166,551 (3,551) TANF 397,500 507,500 505,754 1,746 Welfare to work 250,000 250,000 80,133 169,867 WIA administration 66,000 86,000 95,340 (9,340) WIA adult programs 212,000 212,000 105,611 106,389 WIA youth programs 210,000 435,000 362,117 72,883 JTPA IIB - 80,000 41,990 38,010 National emergency - 70,000 68,439 1,561 WIA planning - 80,000 58,587 21,413 WIA statewide activities 30,000 30,000 18,893 11,107 WIA dislocated worker 200,000 200,000 148,758 51,242 Human resources lab pool 155,000 225,000 180,506 44,494 Ul training program 120,000 195,000 118,086 76,914 AAA administration 61,000 61,000 64,691 (3,691) 74 COUNTY OF WELD STATE OF COLORADO Human Services Fund Statement of Revenues,Expenditures and Changes in Fund Balances-Budget and Actual For the fiscal year ended December 31,2003 Budgeted Original Final Actual Variance EXPENDITURES(CONTINUED): OAA title Ill-B 201,000 201,000 223,788 (22,788) OAA title III-C1 congregate 365,000 365,000 395,164 (30,164) OAA title Ill-C2 51,000 61,000 47,040 13,960 OAA in home support 13,000 13,000 13,145 (145) AAA elder abuse 2,500 2,500 1,807 693 AAA ombudsman 2,500 5,500 4,279 1,221 Single entry point 425,000 485,000 498,382 (13,382) FTA 70,000 100,000 90,000 10,000 AAA case management 20,000 42,000 31,465 10,535 Transportation - - 229,414 (229,414) AAA state funds 180,000 180,000 116,976 63,024 Medicaid transportation 55,000 155,000 160,311 (5,311) Supplemental foods 1,184,000 1,184,000 1,315,326 (131,326) Part E family caregiver support - 80,000 84,945 (4,945) CSBG 250,000 270,000 218,767 51,233 Total Economic Assistance 10,587,500 11,745,500 11,365,585 379,915 Capital Outlay: Total Capital Outlay - - - - Total Expenditures 10,587,500 11,745,500 11,365,585 379,915 Other Financing Sources(Uses): Transfers-In: OAA area agency 12,351 12,351 12,351 - Total Other Financing Sources 12,351 12,351 12,351 - Net Change in Fund Balance - - 127,167 127,167 Fund Balances at Beginning of Year 930,100 930,100 930,100 - Fund Balances at End of Year $ 930,100 $ 930,100 $ 1,057,267 $ 127,167 a 75 Aiefit COLORADO 76 Supplemental Information 4 9 COUNTY OF WELD STATE OF COLORADO EXPLANATIONS OF FUNDS December 31, 2003 MAJOR GOVERNMENTAL FUND Capital Projects Fund Capital Expenditures Fund: This fund accounts for various capital improvement projects on County property. NON-MAJOR GOVERNMENTAL FUNDS Special Revenue Funds Special revenue funds account for taxes or other earmarked revenue of the County that finances specified activities as required by law or administrative action. Conservation Trust Fund: The Conservation Trust Fund accounts for revenue received from the State of Colorado to be used for the acquisition, development and maintenance of new and existing conservation sites within Weld County. The funds are derived from the Colorado State Lottery. Contingent Fund: The Contingent Fund records any property tax revenue levied by the Board of County Commissioners to cover reasonably unforseen expenditures. Emergency Fund: The Emergency Fund accounts for the "Emergency Reserve"required by"Amendment One" to the Colorado Constitution. Public Health Fund: The Weld County Public Health Department provides health services to County residents. The fund reflects revenue and expenditures for health care,health education,health monitoring and other related activities. Solid Waste Fund: This fund accounts for revenue received from a surcharge on dumping fees at solid waste disposal sites for the purpose of combating environmental problems and for the further improvement and development of landfill sites within the County. Bebee Draw Law Enforcement Fund This fund accounts for the revenue of the law enforcement authority. The authority is a taxing unit created by the County to provide additional law enforcement services by the County Sheriff to residents in a developed unincorporated area of the County 77 COUNTY OF WELD STATE OF COLORADO EXPLANATIONS OF FUNDS December 31, 2003 PROPRIETARY FUNDS Enterprise Funds Enterprise funds account for operations that are financed and operated in a manner similar to private business enterprises where the intent of the governing body is that the costs (expenses including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges;or where the governing body has decided that periodic determination or revenue earned, expenses incurred, and/or net income is appropriated for capital maintenance, public policy, management control, accountability or other purposes. Paramedic Services Fund: This fund accounts for the ambulance services provided to Weld County. Internal Service Funds Motor Vehicle Fund: This fund accounts for the revenue and costs generated by equipment and vehicles rented to various departments of the County. Health Insurance Fund: This fund accounts for the County's self-insured dental and vision coverage. Revenue is generated from contributions from the employees of the County. Disbursements are made after insured claims have been verified and approved. Insurance Fund: This fund accounts for all insurance costs for the County,except health insurance. This program is a combination of insured risks and protected self-insurance risks. Phone Services Fund: This fund accounts for all phone costs provided to the County and other outside agencies on a cost- reimbursement basis. Weld Finance Corporation: This fund acquires real estate and constructs buildings for the use of County departments. 78 COUNTY OF WELD STATE OF COLORADO EXPLANATIONS OF FUNDS December 31, 2003 FIDUCIARY FUNDS Agency Funds Agency funds account for assets held by the County as an agent for individuals,private organizations and/or other governments. General Agency Fund: This fund account for all monies collected(principally tax collections)by the Weld County Treasurer for various other local governmental units within the County. Payroll Agency Fund: This fund accounts for the accumulation of County payrolls and related withholdings. Disbursements are made to the appropriate financial institutions through the payroll direct deposit system and the various vendors for the withholdings. Employee Flexible Spending: This fund accounts for Weld County's Section 125, voluntary tax-sheltered plan, which the County administers directly. Employee contributions to the plan are refunded upon submission of documentation for un-reimbursed claims. 79 COUNTY OF WELD STATE OF COLORADO EXPLANATIONS OF FUNDS December 31, 2003 COMPONENT UNITS Component units are tied to the County with some board control. They operate as a separate fund but the information is discretely presented. Housing Authority Fund: This fund works with all the low income citizens of Weld County to help with rent assistance or housing repair. E-91 I Authority Fund: This fund operates under state statute, Article 11 of Title 29, C.R.S.. They are responsible for administering the operations of the 911 emergency telephone service program in Weld County 80 rg6tit Wilk COLORADO 81 COUNTY OF WELD STATE OF COLORADO Combining Balance Sheet Non-Major Governmental Funds December 31, 2003 Conservation Contingent Emergency Trust Fund Fund Fund ASSETS Cash and short-term investments $ 537,261 $ 4,758,386 $ 3,025,505 Receivables (net of allowance for uncollectibles): Current property taxes - 1,294,319 - Delinquent property taxes - 10,138 - Accounts - - - Special assessment - - - Due from other County funds - - - Due from other governments - - - Inventories - - - Other assets - - - Total Assets $ 537,261 $ 6,062,843 $ 3,025,505 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable $ - $ - $ - Accrued liabilities - - - Due to other County funds - - - Due to other governments - - - Deferred revenue - 1,309,933 - Unexpended grant revenue - - - Total Liabilities - 1,309,933 - Fund Balances: Reserved for encumbrances - - - Reserved for other assets - - - Reserved for inventories - - - Unreserved: Designated for future year's expenditure - 4,250,000 3,025,000 Undesignated 537,261 502,910 505 Total Fund Balances 537,261 4,752,910 3,025,505 Total Liabilities and Fund Balances $ 537,261 $ 6,062,843 $ 3,025,505 82 Bebee Draw Total Law Nonmajor Public Health Solid Waste Enforcement Governmental Fund Fund Fund Funds $ 1,033,540 $ 810,048 $ 879 $ 10,165,619 - - - 1,294,319 - - - 10,138 304,020 183,792 - 487,812 17,529 - - 17,529 3,371 - - 3,371 $ 1,358,460 $ 993,840 $ 879 $ 11,978,788 $ 81,148 $ 2,328 $ - $ 83,476 158,533 1,145 - 159,678 2,314 403 - 2,717 146,728 - - 1,456,661 388,723 3,876 - 1,702,532 3,371 - - 3,371 17,529 - - 17,529 - - - 7,275,000 948,837 989,964 879 2,980,356 969,737 989,964 879 10,276,256 $ 1,358,460 $ 993,840 $ 879 $ 11,978,788 83 COUNTY OF WELD STATE OF COLORADO Combining Statement of Revenues, Expenditures and Changes in Fund Balances Non-Major Governmental Funds For the fiscal year ended December 31, 2003 Conservation Contingent Emergency Trust Fund Fund Fund REVENUES: Taxes: Taxes $ - $ 1,697,961 $ - Intergovernmental 385,070 - - Charges for services - - - Miscellaneous 31,682 102 - Total Revenues 416,752 1,698,063 - EXPENDITURES: Current: Public Safety - - - Public health and welfare - - - Culture and recreation 348,555 - - Capital outlay 136,704 - - Total Expenditures 485,259 - - Excess of Revenues Over(Under) Expenditures (68,507) 1,698,063 - Other Financing Sources (Uses): Transfers- In - - - Transfers- Out - - - Total Other Financing Sources (Uses) - - - Net Change in Fund Balances (68,507) 1,698,063 - Fund Balances at Beginning of Year 605,768 3,054,847 3,025,505 Fund Balances at End of Year $ 537,261 $ 4,752,910 $ 3,025,505 84 Bebee Draw Total Law Nonmajor Public Health Solid Waste Enforcement Governmental Fund Fund Fund Funds $ - $ - $ 11,974 $ 1,709,935 1,748,404 - - 2,133,474 969,846 1,285,443 - 2,255,289 218,527 - - 250,311 2,936,777 1,285,443 11,974 6,349,009 - 703,151 11,938 715,089 5,381,518 - - 5,381,518 - - - 348,555 7,375 23,397 - 167,476 5,388,893 726,548 11,938 6,612,638 (2,452,116) 558,895 36 (263,629) 2,470,394 - - 2,470,394 - 707,377 - 707,377 2,470,394 (707,377) - 1,763,017 18,278 (148,482) 36 1,499,388 951,459 1,138,446 843 8,776,868 $ 969,737 $ 989,964 $ 879 $ 10,276,256 85 COUNTY OF WELD STATE OF COLORADO Capital Expenditures Fund Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES General property taxes $ 3,490,000 $ 3,490,000 $ 3,481,453 $ (8,547) Penalties & interest - - 8,379 8,379 Total Taxes 3,490,000 3,490,000 3,489,832 (168) Miscellaneous: Grant - - 30,000 30,000 Earnings on deposits 300,000 300,000 153,719 (146,281) Total Miscellaneous 300,000 300,000 183,719 (116,281) Total Revenues 3,790,000 3,790,000 3,673,551 (116,449) EXPENDITURES Capital Outlay: Buildings 3,790,000 14,727,631 5,938,406 8,789,225 Total Expenditures 3,790,000 14,727,631 5,938,406 8,789,225 Other Financing Sources (Uses): Transfers - In: General Fund - - - - Total Other Financing Sources - - - - Net Change in Fund Balance - (10,937,631) (2,264,855) 8,672,776 Fund Balance at Beginning of Year 5,763,297 5,763,297 5,763,297 - Fund balance at End of Year $ 5,763,297 $ (5,174,334) $ 3,498,442 $ 8,672,776 86 COUNTY OF WELD STATE OF COLORADO Conservation Trust Fund Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Intergovernmental: State lottery $ 360,000 $ 360,000 $ 385,070 $ 25,070 Miscellaneous: Earnings on deposits 14,000 14,000 31,682 17,682 Total Revenues 374,000 374,000 416,752 42,752 EXPENDITURES Culture and Recreation: Land improvements 374,000 374,000 348,555 25,445 Capital Outlay: Land improvements - 140,000 136,704 3,296 Total Expenditures 374,000 514,000 485,259 28,741 Net Change in Fund Balance - (140,000) (68,507) 71,493 Fund Balances at Beginning of Year 605,768 605,768 605,768 - Fund balances at End of Year $ 605,768 $ 465,768 $ 537,261 $ 71,493 87 COUNTY OF WELD STATE OF COLORADO Contingent Fund Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Taxes: General property taxes $ 1,700,000 $ 1,700,000 $ 1,693,836 $ (6,164) Penalties& Interest - - 4,125 4,125 Total Taxes 1,700,000 1,700,000 1,697,961 (2,039) Miscellaneous - - 102 102 Total Revenues 1,700,000 1,700,000 1,698,063 (1,937) EXPENDITURES Miscellaneous 4,500,000 4,500,000 - 4,500,000 Total Expenditures 4,500,000 4,500,000 - 4,500,000 Other Financing sources (Uses): Transfers - Out: Other - - - - Total Other Financing (Uses) - - - - Net Change in Fund Balance (2,800,000) (2,800,000) 1,698,063 4,498,063 Fund Balances at Beginning of Year 3,054,847 3,054,847 3,054,847 - Fund Balances at End of Year $ 254,847 $ 254,847 $ 4,752,910 $ 4,498,063 88 COUNTY OF WELD STATE OF COLORADO Emergency Fund Statement of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Taxes: Total Revenues - - - - EXPENDITURES 3,000,000 3,000,000 - 3,000,000 Other Financing Sources (Uses): Transfers - In: Non-Departmental - - - - Total Other Financing Sources (Uses) - - - - Net Change in Fund Balance (3,000,000) (3,000,000) - 3,000,000 Fund Balances at Beginning of Year 3,025,505 3,025,505 3,025,505 - Fund Balances at End of Year $ 25,505 $ 25,505 $ 3,025,505 $ 3,000,000 89 COUNTY OF WELD STATE OF COLORADO Public Health Fund Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Intergovernmental: State grants $ 1,740,426 $ 2,163,122 $ 1,748,404 $ (414,718) Counties 2,163,017 2,182,461 - (2,182,461) Total Intergovernmental 3,903,443 4,345,583 1,748,404 (2,597,179) Charges for Services: Charges for services 801,864 843,564 969,846 126,282 Total Charges for Services 801,864 843,564 969,846 126,282 Miscellaneous: Other - - 60,226 60,226 Donations - 24,550 158,301 133,751 Total Miscellaneous - 24,550 218,527 193,977 Total Revenues 4,705,307 5,213,697 2,936,777 (2,276,920) EXPENDITURES Public Health and Welfare: Public health administration 137,499 320,582 453,100 (132,518) Health education 238,036 786,838 544,149 242,689 Nursing 3,061,635 3,002,510 2,437,675 564,835 Environmental health 1,863,121 2,173,554 1,946,594 226,960 Total Public Health and Welfare 5,300,291 6,283,484 5,381,518 901,966 Capital Outlay: Environmental health - - 7,375 (7,375) Total Capital Outlay - - 7,375 (7,375) Total Expenditures 5,300,291 6,283,484 5,388,893 894,591 Other Financing Sources(Uses): Transfers- In: Non Departmental 707,377 707,377 2,470,394 1,763,017 Total Other Financing Sources 707,377 707,377 2,470,394 1,763,017 Net Change in Fund Balance 112,393 (362,410) 18,278 380,688 Fund Balances at Beginning of Year 951,459 951,459 951,459 - Fund Balance at End of Year $ 1,063,852 $ 589,049 $ 969,737 $ 380,688 90 COUNTY OF WELD STATE OF COLORADO Solid Waste Fund Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Landfill surcharge $ 1,425,000 $ 1,425,000 $ 1,285,443 $ (139,557) Total Revenues 1,425,000 1,425,000 1,285,443 (139,557) EXPENDITURES Miscellaneous: Solid waste 652,651 652,651 660,837 (8,186) Code enforcement 64,972 64,972 42,314 22,658 Total Miscellaneous 717,623 717,623 703,151 14,472 Capital Outlay: Code enforcement - - 23,397 (23,397) Total Expenditures 717,623 717,623 726,548 (8,925) Other Financing Sources (Uses): Transfers -Out: Health department 707,377 707,377 707,377 - Total Other Financing Sources (Uses) (707,377) (707,377) (707,377) - Net Change in Fund Balance - - (148,482) (148,482) Fund Balances at Beginning of Year 1,138,446 1,138,446 1,138,446 - Fund Balances at End of Year $ 1,138,446 $ 1,138,446 $ 989,964 $ (148,482) 91 COUNTY OF WELD STATE OF COLORADO Bebee Draw Law Enforcement Fund Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Taxes: General property taxes $ 10,939 $ 10,939 $ 10,621 $ (318) Specific ownership taxes 1,000 1,000 1,244 244 Penalties & Interest - - 109 109 Total Revenues 11,939 11,939 11,974 35 EXPENDITURES Miscellaneous 11,939 11,939 11,938 1 Total Expenditures 11,939 11,939 11,938 1 Other Financing sources (Uses): Transfers -Out: Other - - - - Total Other Financing (Uses) - - - - Net Change in Fund Balance - - 36 36 Fund Balances at Beginning of Year 843 843 843 - Fund Balances at End of Year $ 843 $ 843 $ 879 $ 36 92 COUNTY OF WELD STATE OF COLORADO Housing Authority Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Intergovernmental: Federal Grants $ - $ - $ - $ - State Grants 2,747,185 2,747,185 2,766,202 19,017 Total Intergovernmental 2,747,185 2,747,185 2,766,202 19,017 Miscellaneous: Earnings on deposits - - 5,666 5,666 Miscellaneous - - 263,094 263,094 Total Miscellaneous - - 268,760 268,760 Total Revenues 2,747,185 2,747,185 3,034,962 287,777 EXPENDITURES Rent assistance 2,497,164 2,497,164 2,523,405 (26,241) Supplies 5,000 5,000 253,122 (248,122) Depreciation - - 4,246 (4,246) Total Expenditures 2,502,164 2,502,164 2,780,773 (278,609) Net Change in Fund Balance 245,021 245,021 254,189 9,168 Fund Balances at Beginning of Year 802,914 802,914 813,254 10,340 Fund Balances at End of Year $ 1,047,935 $ 1,047,935 $ 1,067,443 $ 19,508 93 COUNTY OF WELD STATE OF COLORADO E-911 Authority Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance REVENUES Miscellaneous: Earnings on deposits 20,000 20,000 47,729 27,729 Charge for service 1,237,300 1,237,300 1,090,357 (146,943) Total Revenue 1,257,300 1,257,300 1,138,086 (119,214) EXPENDITURES Depreciation 180,000 180,000 60,847 119,153 Purchased services 646,500 646,500 460,948 185,552 Supplies 6,250 6,250 68,873 (62,623) Grants and donations - - 250,000 (250,000) Total Expenditures 832,750 832,750 840,668 (7,918) Net Change in Fund Balance 424,550 424,550 297,418 (127,132) Fund Balances at Beginning of Year 1,947,045 1,947,045 1,947,045 - Fund Balances at End of Year $ 2,371,595 $ 2,371,595 $ 2,244,463 $ (127,132) 94 rfcgitt Wilk COLORADO 95 Form Approved The public report burden for this information collection is estimated to average 380 hours annually. OMB No.2125-0032 City or County: WELD LOCAL HIGHWAY FINANCE REPORT YEAR ENDING : December 2003 This Information From The Records Of County of Weld: Prepared By: Claud W. Hanes Phone: 970-356-4000.4444 I. DISPOSITION OF HIGHWAY-USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE A. Local B. Local C. Receipts from D. Receipts from ITEM Motor-Fuel Motor-Vehicle State Highway- Federal Highway Taxes Taxes User Taxes Administration I. Total receipts available 2. Minus amount used for collection expenses 3. Minus amount used for nonhighway purposes 4. Minus amount used for mass transit 5. Remainder used for hi hway pu oses II. RECEIPTS FOR ROAD AND STREET PURPOSES III. DISBURSEMENTS FOR ROAD AND STREET PURPOSES ITEM AMOUNT ITEM AMOUNT A. Receipts from local sources: A. Local highway disbursements: IIIMIll 1. Local highway-user taxes I. Capital outlay(from page 2) 5,771,955 a. Motor Fuel (from Item I.A.5.) 2. Maintenance: 9,853.487 b. Motor Vehicle(from Item I.B.5.) 3. Road and street services: c. Total(a+b.) a. Traffic control operations 2. General fund appropriations b. Snow and ice removal 640,637 3. Other local imposts(from page 2) 10,706,787 c. Other 251,344 4. Miscellaneous local receipts(from page 2) 2,312,110 d. Total (a. through c.) 891.981 5. Transfers from toll facilities 4. General administration &miscellaneous 3,741.598 6. Proceeds of sale of bonds and notes: 5. Highway law enforcement and safety a. Bonds-Original Issues 6. Total (1 through 5) 20,259,021 b. Bonds-Refunding Issues B. Debt service on local obligations: c. Notes I. Bonds: d. Total(a.+b.+c.) 0 a. Interest 0 7. Total (1 through 6) 13,018,897 b. Redemption 0 B. Private Contributions c. Total a.+b. 0 C. Receipts from State government 2. Notes: from a e 2 8,882,419 a. Interest 0 D. Receipts from Federal Government b. Redemption 0 from payee 2) 324,415 c. Total(a.+b.) 0 E. Total recetrts(A.7+B+C+D) 22,225,731 3. I otal (1.c+2.c) 0 C. Payments to State for highways D. Payments to toll facilities E. Total disbursements(A.6+B.3+C+D) 20,2,9.021 IV. LOCAL HIGHWAY DEBT STATUS (Show all entries at par) Opening Debt Amount Issued Redemptions Closing Debt A. Bonds Total 0 0 0 0 I. Bonds(Refunding Portion) B. Notes(Tote V. LOCAL ROAD AND STREET FUND BALANCE A. Beginning Balance B.Total Receipts C.Total Disbursements D. Ending Balance E. Reconciliation 7,314,249 22,225,731 20,259,021 9.280,959 0 Notes and Comments: FORM FHWA-536(Rev.01-04) PREVIOUS EDITIONS OBSOLETE (Next Page) 96 STATE: Colorado LOCAL HIGHWAY FINANCE REPORT YEAR ENDING(mm/yy): December 2003 II. RECEIPTS FOR ROAD AND STREET PURPOSES-DETAIL ITEM AMOUNT ITEM AMOUNT A.3. Other local im•osts: A.4. Miscellaneous local recei r ts: a. Property Taxes and Assesments 5,167,159 a. Interest on investments 44,843 b. Other local imposts: b. Other 13,833 1. Sales Taxes 0 c. Transfers 12,415 2. Traffic Fines 0 d. Capital Credits 3. Specific Ownership Tax 5,539,628 e. Sale of Assets f. Fees/Licenses/Permits 982,703 5. From Cities/Counties g. Service Performed 1,258,316 6. Total(1.through 5.) 5,539,628 h. Refunds of Expenditures c. Total a. +b.) 10,706,787 i. Total(a. throu•hh. 2,312,110 (Ca forward to .a•e 1) (Ca forward to .aee 1) ITEM AMOUNT ITEM AMOUNT C. Recei•is from State Government D. Recei i is from Federal Governmen 1. Highwa -user taxes 7,923,679 1. FHWA from Item I.D.5. 2. State general funds 2. Other Federal agencies: 3. Other State funds: a. Forest Service 106,758 a. State bond proceeds b. FEMA b. Project Match c. HUD c. Motor Vehicle Registration 319,404 d. Mineral Leasing 118,395 d. (Specify) EIAF 639,336 e. Pay Lieu of Tax 99,262 e. (Specify) f. Other Federal 0 f. Total(a. through e.) 958,740 g. Total(a. through f.) 324,415 4. Total(1. +2.+ 3.f) 8,882,419 3. Total(1. +2.g) (Carry forward to page 1) III. DISBURSEMENTS FOR ROAD AND STREET PURPOSES-DETAIL ON NATIONAL OFF NATIONAL HIGHWAY HIGHWAY TOTAL SYSTEM SYSTEM a) b) (c) A.1. Capital outlay: a. Right-Of-Way Costs 135,244 135.244 b. Engineering Costs 1,384 939 1,384.939 c. Construction: (1). Capacity Improvements 3,822,446 3,822,446 (2). System Preservation 429,326 429,326 (3). Safety And Other 0 (4). Total Construction(1)+(2)+(3) 0 4,251,772 4,251,772 d. Total Capital Outlay(Lines l.a. + l.b. + 1.c.4) 0 5,771,955 5.771.955 (Carry forward to page i) Notes and Comments: FORM FHWA-536(Rev.l-04) PREVIOUS EDITIONS OBSOLETE 2 97 COUNTY OF WELD STATE OF COLORADO Combining Statement of Net Assets Internal Service Funds December 31, 2003 Motor Vehicle Health Fund Insurance Fund Insurance Fund ASSETS Current Assets: Cash and cash equivalents $ 986,203 $ 948,235 $ 1,672,306 Receivables (net of allowances for uncollectables): Current property taxes - - 547,601 Delinquent property taxes - - 2,818 Accounts 18,441 - Duefromothercountyfunds 155,586 1,150 32,926 Inventories 24,256 -Other assets - - 2,975 Total current assets 1,184,486 949,385 2,258,626 Fixed assets: Improvements other than buildings 460,679 - - Buildings 1,779,777 - - Machinery and equipment 21,940,956 - - Accumulated depreciation (13,521,967) - - Total Fixed Assets 10,659,445 - - Total assets $ 11,843,931 $ 949,385 $ 2,258,626 LIABILITIES AND FUND EQUITY Current Liabilities: Accounts payable $ 289,729 $ 13,995 $ 89,968 Accrued liabilities - - 583,502 Due to other county funds - - - Deferred revenue - - 552,731 Unexpended grant revenue 28,709 - Current portion of long-term debt - - - Total Current Liabilities 318,438 13,995 1,226,201 Long-term liabilities: Certificates of participation - - - Total Long-term Liabilities - - - Total Liabilities 318,438 13,995 1,226,201 Net Assets Invested in capital assets, net of related debt 10,659,445 - - Restricted for: Workers'compensation - - 1,032,425 Unrestricted 866,048 935,390 - Total net assets 11,525,493 935,390 1,032,425 98 Phone Services Weld Finance Total Internal Fund Corporation Service Funds $ 1,003,202 $ 4,774 $ 4,614,720 - - 547,601 - 2,818 1,973 - 20,414 18,331 - 207,993 - 24,256 - 2,975 1,023,506 4,774 5,420,777 - - 460,679 7,175,000 8,954,777 1,077,814 - 23,018,770 (916,022) (1,454,931) (15,892,920) 161,792 5,720,069 16,541,306 $ 1,185,298 $ 5,724,843 $21,962,083 $ 17,701 $ 1,995 $ 413,388 10,954 - 594,456 11 - 11 - - 552,731 - - 28,709 380,000 380,000 28,666 381,995 1,969,295 6,388,602 6,388,602 6,388,602 6,388,602 28,666 6,770,597 8,357,897 161,792 (1,048,533) 9,772,704 - 1,032,425 994,840 2,779 2,799,057 1,156,632 (1,045,754) 13,604,186 99 COUNTY OF WELD STATE OF COLORADO Combining Statement of Revenues, Expenses and Changes in Net Assets Internal Service Funds For the fiscal year ended December 31, 2003 Motor Vehicle Health Fund Insurance Fund Insurance Fund Operating revenues: Contributions $ - $ 264,222 $ - Rental income - - - Charges for services 4,383,007 4,154 223,200 Total operating revenues 4,383,007 268,376 223,200 Operating expenses: Personnel services - 3,054 - Supplies 956,958 46 40 Purchased services 1,651,335 11,120 91,446 Insurance and bonds - - 410,372 Depreciation 2,019,452 - - Other 69,978 - 360 Claims - 251,314 1,260,001 Total operating expenses 4,697,723 265,534 1,762,219 Operating income (loss) (314,716) 2,842 (1,539,019) Nonoperating revenues (expenses): Taxes - - 550,212 Miscellaneous 2,443 - 50,603 Interest income - - - Gain (loss)on disposition of assets 21,036 - - Judgements and damages - - 243,471 Net increase (decrease) in fair market value - - - Interest expense - - - Total nonoperating revenues (expenses) 23,479 - 844,286 Income (loss) before contributions and transfers (291,237) 2,842 (694,733) Capital contributions 21,476 - - Transfers out - - - Changes in net assets (269,761) 2,842 (694,733) Total net assets-beginning 11,795,254 932,548 1,727,158 Total net assets-ending $ 11,525,493 $ 935,390 $ 1,032,425 100 Phone Services Weld Finance Total Internal Fund Corporation Service Funds $ - $ - $ 264,222 737,233 737,233 990,367 - 5,600,728 990,367 737,233 6,602,183 108,944 - 111,998 11,670 1,646 970,360 593,592 (409) 2,347,084 - 410,372 74,062 264,271 2,357,785 35,180 - 105,518 - 1,511,315 823,448 265,508 7,814,432 166,919 471,725 (1,212,249) - 550,212 - 53,046 886 886 - 21,036 - - 243,471 (377,233) (377,233) (376,347) 491,418 166,919 95,378 (720,831) 21,476 979,046 979,046 166,919 (883,668) (1,678,401) 989,713 (162,086) 15,282,587 $ 1,156,632 $ (1,045,754) $ 13,604,186 101 COUNTY OF WELD STATE OF COLORADO Combining Statement of Cash Flows Internal Service Funds For the fiscal year ended December 31.2003 Motor Vehicle Health Insurance Insurance Fund Fund Fund CASH FLOWS FROM OPERATING ACTIVITIES Cash flows from external customers $ 318,307 $ - $ - Cash flows from internal customers 4,070,613 283,462 241.744 Cash payments to external suppliers for goods and services (2,403,364) (24,428) (1,741,917) Cash payments to internal suppliers for goods and services (86,299) (50) (9,309) Cash payments to employees for services - (250,647) - Miscellaneous revenues 2.443 - - Net cash provided(used)by operating activities 1.901.700 8.337 (1,509,4821 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Taxes - 550,212 Judgements/damages/losses 15.613 - 243.471 Net cash provided by noncapital financing activities 15.613 - 793.683 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets (2,376,183) - - Principal paid on long-term debt - - - Interest paid - - - Proceeds from sale of capital assets 269,492 - - Cash for future capital - - - Net cash provided(used)for capital and related financing activities (2.106,691) - • CASH FLOWS FROM INVESTING ACTIVITIES Interest on investments • - 50,603 Net cash provided(used)for investing activities - - 50,603 Net Increase(decrease)in Cash and Cash Equivalents (189,378) 8,337 (665,196) Cash and Cash Equivalents at Beginning of Year 1.175,581 939,898 2,337.502 Cash and Cash Equivalents at End of Year $ 986 201 4 948 295 $ 1 672 30Q Reconciliation of operating income to net cash provided(used)by operating activities: Operating income $ (314,7161 $ 2.842 $ (1,539.019) Adjustments to reconcile operating income to net cash provided(used)by operating activities: Depreciation expense 2,019,452 Miscellaneous revenue 2,444 Change in assets and liabilities Increase)decrease in accounts receivable 19,202 600 2,682 Increase)decrease in due from other funds 155,626 (1,150) (30,056) Increase)decrease in inventories (7,324) Increase)decrease in other assets 44,078 ncrease(decrease)in accounts payable 41,025 6,045 (110,770) ncrease(decrease)in accrued liabilities 126,319 ncrease(decrease)in other liabilities (14,009) ncrease(decrease)in deferred revenue - - (2.7161 Total adjustments 2.216.416 5.495 29.537 Net cash provided by operating activities $ 1 901 700 $ 8.337 B (1 500 482) Noncash investing,capital,and financing activities: Contributions of capital assets from(to)government $ 21,476 Capital asset trade-ins $ 56,847 The notes to the financial statements are an integral part of this statement. 102 Phone Service Weld Finance Total Internal Fund Corp Service Funds $ 105,169 $ - $ 423,476 890,551 737,232 6,223,602 (580,459) 1,804 (4,748,364) (90,154) - (185,812) (103,734) - (354,381) 35 - 2,478 221.408 739.036 1.360,999 • 550,212 259.084 809.296 (2,376,183) (420,000) (420,000) (567,244) (567,244) • - 269,492 (987.2441 (3,093,935) 887 51,490 887 51.490 221,408 (247,321) (872,150) 781,794 252.095 5,486.870 $ 1 003 202 $ 4.774 S 4.614 720 $ 166,919 $ 471,725 $ (1.212,249) 74,062 264,270 2,357,784 2,444 6,286 28,770 443 124,863 (7,324) 44,078 (27,000) 3,041 (87,659) 887 127,206 (189) (14,198) (2.716) 54.489 267.311 2.573.248 $ 221 40@ $ 739 03@ $ 1 360 egg $ (979,046) (957,570) 56,847 103 COUNTY OF WELD STATE OF COLORADO Combining Statement of Changes in Assets and Liabilities Fiduciary Funds For the fiscal year ended December 31,2003 Balance Balance 01/01/03 Additions Deductions 12/31/03 GENERAL AGENCY FUND Assets: Cash and short-term investments $ 284,744 $ 6,200,938 $ 469,537 $ 6,016,145 Accounts receivable - - - - Total Assets $ 284,744 $ 6,200,938 $ 469,537 $ 6,016,145 Liabilities: Accounts payable $ - $ 284,001 $ 284,001 $ - Due to other governments 284,744 5,933,264 201,863 6,016,145 Total Liabilities $ 284,744 $ 6,217,264 $ 485,863 $ 6,016,145 PAYROLL AGENCY FUND Assets: Cash and short-term investments $ 177,519 $ 18,514,902 $ 18,167,130 $ 525,291 Accounts receivable 2,750 24,985 24,611 3,124 Total Assets $ 180,269 $ 18,539,887 $ 18,191,740 $ 528,415 Liabilities: Accounts payable $ 180,269 $ 23,920,803 $ 23,572,656 528,415 Total Liabilities $ 180,269 $ 23,920,803 $ 23,572,656 $ 528,415 EMPLOYEE FLEXIBLE SPENDING Assets: Cash and short-term investments $ 8,955 $ 476,987 $ 470,701 $ 15,242 Accounts receivable - - - - Total Assets $ 8,955 $ 476,987 $ 470,701 $ 15,242 Liabilities: Accounts payable $ 8,955 $ 22,089 $ 15,802 15,242 Total Liabilities $ 8,955 $ 22,089 $ 15,802 $ 15,242 TOTAL-ALL AGENCY FUNDS Assets: Cash and short-term investments $ 471,218 $ 25,192,827 $ 19,107,367 $ 6,556,678 Accounts receivable 2,750 24,985 24,611 3,124 Total Assets $ 473,968 $ 25,217,812 $ 19,131,978 $ 6,559,802 Liabilities: Accounts payable $ 189,224 $ 24,226,892 $ 23,872,459 $ 543,657 Due to othergovemments 284,744 5,933,264 201,863 6,016,145 Total Liabilities $ 473,968 $ 30,160,156 $ 24,074,321 $ 6,559,802 104 COUNTY OF WELD STATE OF COLORADO Paramedic Services Fund Statement of Revenues, Expenses and Changes in Fund Equity- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance Operating Revenues: Rescue unit fees $ 7,510,000 $ 8,310,000 $ 8,503,174 $ 193,174 Total Operating Revenues 7,510,000 8,310,000 8,503,174 193,174 Operating Expenses: Bad debt expense 3,004,000 3,804,000 5,175,432 (1,371,432) Personnel services 3,094,039 3,094,039 2,898,010 196,029 Supplies 207,900 207,900 186,800 21,100 Purchased services 502,190 502,190 302,824 199,366 Depreciation 200,000 200,000 216,652 (16,652) Other - - 2,304 (2,304) Total Operating Expenses 7,008,129 7,808,129 8,782,022 (973,893) Operating Income (Loss) 501,871 501,871 (278,848) (780,719) Nonoperating Revenues: State grants - - 100 100 Other - - 6,530 6,530 Gain (loss)on disposition of assets - - 8,500 8,500 Total Nonoperating Revenues - - 15,130 15,130 Income(loss)before contributions and transfers 501,871 501,871 (263,718) (765,589) Transfers out - - 5,072 (5,072) Net Income (Loss) 501,871 501,871 (268,790) (770,661) Fund Equity at Beginning of Year 732,314 732,314 732,314 - Fund Equity at end of Year $ 1,234,185 $ 1,234,185 $ 463,524 $ (770,661) 105 COUNTY OF WELD STATE OF COLORADO Motor Vehicle Fund Schedule of Revenues, Expenses and Changes in Fund Equity- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance Operating Revenues: Charges for services $ 2,468,123 $ 2,468,123 $ 2,363,555 $ (104,568) Miscellaneous 1,864,449 1,991,449 2,019,452 28,003 Total Operating Revenues 4,332,572 4,459,572 4,383,007 (76,565) Operating Expenses: Supplies 593,369 593,369 956,958 (363,589) Purchased services 1,709,156 1,709,156 1,651,335 57,821 Depreciation 1,864,449 1,864,449 2,019,452 (155,003) Other 70,598 70,598 69,978 620 Total Operating Expenses 4,237,572 4,237,572 4,697,723 (460,151) Operating income (loss) 95,000 222,000 (314,716) (536,716) Nonoperating Revenues (Expenses): Miscellaneous - - 2,443 2,443 Gain (loss)on disposition of assets 300,000 180,000 21,036 (158,964) Total Nonoperating Revenues(Expenses) 300,000 180,000 23,479 (156,521) Income(Loss) before contributions and transfers 395,000 402,000 (291,237) (693,237) Capital contributions - - 21,476 21,476 Net Income (Loss) 395,000 402,000 (269,761) (671,761) Fund Equity at Beginning of Year 11,795,254 11,795,254 11,795,254 - Fund Equity at End of Year $ 12,190,254 $ 12,197,254 $ 11,525,493 $ (671,761) 106 COUNTY OF WELD STATE OF COLORADO Health Insurance Fund Schedule of Revenues, Expenses and Changes in Fund Equity- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance Operating Revenues: Contributions $ 271,980 $ 301,980 $ 268,376 $ (33,604) Operating Expenses: Personnel services - - 3,054 (3,054) Supplies - - 46 (46) Purchased services 5,000 5,000 11,120 (6,120) Claims 266,980 296,980 251,314 45,666 Total Operating Expenses 271,980 301,980 265,534 36,446 Operating Income (Loss) - - 2,842 2,842 Fund Equity at Beginning of Year 932,548 932,548 932,548 - Fund Equity at End of Year $ 932,548 $ 932,548 $ 935,390 $ 2,842 107 COUNTY OF WELD STATE OF COLORADO Insurance Fund Schedule of Revenues, Expenses and Changes in Fund Equity- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance Operating Revenues: Charges for services $ 200,000 $ 200,000 $ 223,200 $ 23,200 Operating Expenses: Supplies 700 700 40 660 Purchased services 26,900 112,900 91,446 21,454 Insurance and bonds 293,000 293,000 410,372 (117,372) Other 500 500 360 140 Claims 860,000 1,360,000 1,260,001 99,999 Total Operating Expenses 1,181,100 1,767,100 1,762,219 4,881 Operating Income (Loss) (981,100) (1,567,100) (1,539,019) 28,081 Nonoperating Revenues (Expenses): Taxes 550,000 550,000 548,884 (1,116) Penalties & interest - - 1,328 1,328 Miscellaneous 68,000 68,000 50,603 (17,397) Judgments and damages 50,000 350,000 243,471 (106,529) Total Nonoperating Revenues (Expenses) 668,000 968,000 844,286 (123,714) Net Income (Loss) (313,100) (599,100) (694,733) (95,633) Fund Equity at Beginning of Year 1,727,158 1,727,158 1,727,158 - Fund Equity at End of Year $ 1,414,058 $ 1,128,058 $ 1,032,425 $ (95,633) 108 COUNTY OF WELD STATE OF COLORADO Phone Service Fund Schedule of Revenues, Expenses and Changes in Fund Equity- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance Operating Revenues: Charges for services $ 860,000 $ 960,000 $ 990,367 $ 30,367 Operating Expenses: Personnel services 109,127 109,127 108,944 183 Supplies 5,500 15,500 11,670 3,830 Purchased services 659,421 729,421 593,592 135,829 Depreciation 52,450 72,450 74,062 (1,612) Other 33,502 33,502 35,180 (1,678) Total Operating Expenses 860,000 960,000 823,448 136,552 Operating Income (Loss) - - 166,919 166,919 Fund Equity at Beginning of Year 989,713 989,713 989,713 - Fund Equity at End of Year $ 989,713 $ 989,713 $ 1,156,632 $ 166,919 109 COUNTY OF WELD STATE OF COLORADO Weld Finance Corporation Schedule of Revenues, Expenses and Changes in Fund Equity- Budget and Actual For the fiscal year ended December 31, 2003 Budgeted Original Final Actual Variance Operating Revenues: Rental income $ 737,233 $ 737,233 $ 737,233 $ - Operating Expenses: Supplies - - 1,646 (1,646) Purchased services - - (409) 409 Depreciation 360,000 360,000 264,271 95,729 Total Operating Expenses 360,000 360,000 265,508 94,492 Operating Income(Loss) 377,233 377,233 471,725 94,492 Nonoperating Revenues (Expenses): Interest income - - 886 886 Interest expense 377,233 377,233 377,233 - Total Nonoperating Revenues(Expenses) (377,233) (377,233) (376,347) 886 Income (loss) before contributions and transfers - - 95,378 95,378 Transfers out - - 979,046 (979,046) Net Income(Loss) - - (883,668) (883,668) Fund Equity at Beginning of Year (162,086) (162,086) (162,086) - Fund Equity at End of Year $ (162,086) $ (162,086) $ (1,045,754) $ (883,668) 110 oaeIIor1oo 31111 tQl009S? NOI1o3S ni 41A sL^nZ =x "1199IlSI1V1S COUNTY OF WELD STATE OF COLORADO Tables Relating to Bonded Debt (Unaudited) December 31,2003 NOTE: Weld County is without bonded debt and,accordingly,the following statistical tables are not presented: A. Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita-Last Ten Years B. Ratio of Annual Debt Service for General Bonded Debt to Total General Expenditures- Last Ten Years C. Revenue Bond Coverage-Last Ten Years 111 COUNTY OF WELD STATE OF COLORADO General Governmental Expenditures by Function (Unaudited) Last Ten Years General Public Public Public Health Auxiliary Capital Year Government Safe Works &Welfare Services* Outlay 1994 $11,055,275 $12,433,092 $13,294,864 $33,011,044 $8,313,101 $5,006,189 1995 10,592,856 12,987,458 14,566,805 30,821,874 8,860,831 3,594,276 1996 11,948,235 14,259,703 13,775,099 31,965,369 7,063,067 6,077,085 1997 12,174,652 15,080,985 16,287,124 30,211,705 8,159,490 6,574,292 1998 13,452,540 17,585,720 15,559,093 14,957,946 8,715,697 8,331,072 1999 14,278,671 18,403,498 16,157,879 17,353,948 8,530,670 5,816,222 2000 15,400,126 19,010,872 15,631,103 16,470,861 8,924,471 5,345,901 2001 16,538,017 20,130,604 17,459,766 18,657,053 10,152,137 6,955,244 2002 19,100,208 23,435,572 23,465,325 21,327,335 11,939,806 9,590,948 2003 21,699,005 27,212,371 21,407,821 20,849,839 11,044,773 8,818,173 Government-Wide Expenses by Function General Public Public Public Health Auxiliary Debt Year Government Safe Works &Weffare Services' Service 2002 $19,978,184 $24,079,553 $34,283,421 $21,721,740 $12,116,048 $406,155 2003 23,407,462 27,888,532 33,353,129 21,357,812 11,090,952 377,233 *Auxiliary Services includes culture and recreation, conservation of natural resources, and economic assistance. 112 Debt Intergovernmental Total Service Expenditures Miscellaneous Expenditures $181,228 $678,046 $4,439,223 $88,412,062 154,507 522,232 7,861,329 89,962,168 107,963 559,388 2,330,118 88,086,027 289,363 486,365 1,154,747 90,418,723 479,925 526,430 1,073,351 80,681,774 440,714 566,169 1,263,079 82,810,850 585,199 542,900 5,302,664 87,214,097 540,174 387,433 1,442,444 92,262,872 406,155 0 0 109,265,349 377,233 0 0 111,409,215 Total Expenses $112,585,101 117,475,120 113 COUNTY OF WELD STATE OF COLORADO General Governmental Revenue by Source (Unaudited) Last Ten Years Licenses Intergovernmental Charges for Fines and Miscellaneous Year Taxes and Permits Revenue Services Forfeitures Revenue 1994 $26,840,523 $1,196,030 $43,606,733 $4,700,961 $30,910 $3,191,184 1995 28,435,809 863,912 45,867,426 4,149,997 28,983 3,820,161 1996 31,314,756 1,007,453 43,123,798 4,938,013 24,345 3,913,650 1997 31,864,782 1,134,380 45,660,932 5,784,697 23,301 12,271,411 1998 33,494,276 1,765,997 29,766,176 4,116,160 35,264 4,555,678 1999 37,525,208 1,800,314 33,007,428 4,095,362 63,095 3,851,517 2000 39,665,850 2,201,549 33,294,534 4,711,253 41,832 5,829,554 2001 40,566,362 1,952,096 37,269,229 5,201,026 39,393 5,402,997 2002 50,771,861 2,205,420 40,511,590 5,746,678 159,246 5,536,066 2003 53,080,844 1,760,546 37,459,421 6,948,676 75,488 4,374,890 Government-Wide Revenue by Source Operating Capital Charges for Grants and Grants and Gain on Sale Year Services Contributions Contributions Taxes Miscellaneous of Assets 2002 $30,195,907 $26,156,456 $0 $53,077,275 $2,052,594 $10,030 2003 28,069,949 24,877,982 0 55,565,762 1,563,120 (94,544) *Auxiliary Services includes culture and recreation,conservation of natural resources,and economic assistance. 114 Fees Total Revenue $3,476,797 $83,043,138 3,425,702 86,591,990 2,762,388 87,084,403 2,897,598 99,637,101 3,547,667 77,281,218 3,733,683 84,076,607 3,932,809 89,677,381 5,039,121 95,470,224 6,638,831 111,569,692 7,387,204 111,087,069 Total Revenue $111,492,262 109,982,269 115 COUNTY OF WELD STATE OF COLORADO Property Value,Construction, Bank Deposits and Other Economic Indicators (Unaudited) Last Ten Years Value of Crop Property Value Estimated &Livestock Estimated Building Construction Bank Deposits Retail Sales Production Year value(millions) Permits (millions) frtScis (millions) (thousands) (3) (2) (2) (1) (1) (1) 1994 $7,390.40 2,236 $62.95 $928.24 $2,005.00 $1,184 1995 7,930.17 1,614 45.37 1,006.86 2,007.00 1,205 1996 7,607.03 1,721 55.74 1,089.32 2,271.43 1,230 1997 8,582.62 1,773 70.75 1,244.73 2,446.70 1,287 1998 9,037.15 1,760 99.57 1,524.38 2,624.70 1,244 1999 9,524.87 2,087 117.44 1,558.00 2,835.70 1,292 2000 10,458.25 2,190 143.85 1,672.00 3,215.00 1,253 2001 13,858.62 2,180 148.43 1,784.00 3,522.00 1,269 2002 14,949.49 2,082 125.34 1,845.00 3,859.30 1,282 2003 15,022.48 1,941 201.44 2,016.00 3,927.00 1,032 Data Sources: (1) EDAP-Greeley/Weld Economic Development Action Partnership (2) Weld County Planning and Building Inspection Department (3) Weld County Comprehensive Annual Financial Report 116 COUNTY OF WELD STATE OF COLORADO Property Tax Levies and Collections (Unaudited) Last Ten Years Total Total Current Percent Delinquent Total Outstanding Levy Collection Original Tax of Levy Tax Tax Delinquent Year Year Levy Collections Collected Collections Collections Taxes 1994 1994 $24,920,742 $24,793,121 99.49% $65,403 $24,858,524 $905,474 1995 1995 27,473,515 27,308,264 99.40% 64,220 27,372,484 781,720 1996 1996 29,618,111 29,460,936 99.47% 121,172 29,582,108 457,518 1997 1997 29,246,805 28,843,296 98.62% 91,804 28,935,100 355,254 1998 1998 32,543,342 32,222,578 99.01% 108,995 32,331,573 316,323 1999 1999 34,162,938 34,094,225 99.80% 68,396 34,162,621 34,795 2000 2000 35,976,391 35,788,843 99.48% 115,279 35,904,122 24,565 2001 2001 38,774,962 38,275,747 98.71% 116,397 38,392,144 94,468 2002 2002 45,619,589 45,566,346 99.90% 295,503 45,861,849 98,849 2003 2003 48,640,425 48,410,396 99.53% 185,242 48,595,638 107,994 COUNTY OF WELD STATE OF COLORADO Assessed and Estimated Actual Value of Property (Unaudited) Last Ten Years Real Property(11 Personal Property(21 Total Levy Assessed Estimated Assessed Estimated Assessed Estimated Year Value Actual Value Value Actual Value Value Actual Value 1994 $958,849,570 $6,836,859,318 $160,423,580 $553,184,759 $1,119,273,150 $7,390,044,077 1995 1,027,364,600 7,317,227,471 177,752,250 612,938,793 1,205,116,850 7,930,166,264 1996 987,014,993 6,971,201,156 184,390,364 635,828,841 1,171,405,357 7,607,029,997 1997 1,115,923,550 7,914,137,072 193,859,950 668,482,586 1,309,783,500 8,582,619,658 1998 1,177,632,350 8,344,493,359 200,869,820 692,654,552 1,378,502,170 9,037,147,911 1999 1,267,726,630 8,912,720,454 177,524,250 612,152,586 1,445,250,880 9,524,873,040 2000 1,394,937,800 9,843,021,051 178,415,510 615,225,897 1,573,353,310 10,458,246,948 2001 1,856,425,158 13,290,113,524 164,866,560 568,505,379 2,021,291,718 13,858,618,903 2002 2,011,976,670 14,390,527,352 162,098,080 558,958,896 2,174,074,750 14,949,486,248 2003 2,045,894,060 14,480,010,337 157,315,880 542,468,552 2,203,209,940 15,022,478,889 (1) Residential improved land and improvements at 12.86%of 1991 to June 30,1992 replacement costs as determined by State Law. (2) Commercial improved land,improvements,and personal property at 29%of 1990 replacement costs,as determined by State Law. (3)Total includes audit of oil and gas values understated by producers in 1990. (4) State assessed value is deducted from total assessed value as state property is not taxable. 117 COUNTY OF WELD STATE OF COLORADO Property Tax Levies-Direct and Overlapping Governments (Unaudited) Last Ten Years Levy Collection School Junior Year Year Cities Districts County College Other Tax Levies 1994 1994 593.500 747.480 22.460 6.320 239.530 1995 1995 575.830 719.570 22.040 6.100 220.580 1996 1996 565.990 694.280 22.040 6.320 245.120 1997 1997 541.600 710.620 22.040 6.250 237.180 1998 1998 508.470 724.650 22.040 6.320 346.620 1999 1999 522.150 717.980 22.040 6.250 346.570 2000 2000 584.333 711.441 22.038 6.343 378.748 2001 2001 481.370 709.199 22.038 6.351 372.305 2002 2002 436.887 680.402 20.559 6.620 662.714 2003 2003 415.384 650.081 20.056 6.316 730.987 Tax Revenues 1995 1995 $6,243,780 $49,387,551 $24,920,742 $6,376,268 $7,479,307 1996 1996 6,705,795 52,888,144 27,473,515 6,988,393 8,514,042 1997 1997 7,599,166 56,390,200 29,675,966 7,714,651 9,992,187 1998 1998 8,094,430 61,343,860 29,306,985 7,520,384 9,654,639 1999 1999 9,174,205 67,344,547 32,608,877 8,397,821 10,629,365 2000 2000 9,712,451 70,210,998 34,162,938 8,656,280 11,301,823 2001 2001 10,420,562 73,480,134 36,053,130 9,161,765 14,289,800 2002 2002 11,587,957 77,187,212 38,846,297 9,750,575 16,565,886 2003 2003 13,408,882 92,309,403 45,683,851 12,640,646 21,279,785 2004 2004 15,436,471 97,106,116 48,691,835 13,043,228 25,872,995 The basis for the property tax rates is per$1,000 assessed valuation. 118 COUNTY OF WELD STATE OF COLORADO Special Assessment Collections (Unaudited) Last Ten Years Current Current Ratio of Total Assessments Assessments Collections Outstanding Year Due Collected To Amount Due Assessments 1994 (1) $213,990 $213,990 100% $465,649 1995(1) 243,621 243,621 100% 222,028 1996(2) 92,291 92,291 100% 235,343 1997(1) 46,012 46,012 100% 189,331 1998 (3) 57,017 57,017 100% 163,210 1999 (1) 40,060 40,060 100% 123,150 2000 (1) 31,136 31,136 100% 92,014 2001 (1) 30,334 30,334 100% 61,680 2002 (1) 16,465 16,465 100% 45,215 2003 (4) 14,199 14,199 100% 131,016 Notes: (1) No new special assessment. (2) Roth Subdivision$86,456. Delwood Special Assessment$19,150. (3) Martin Brothers Special Assessment$30,896. (4) Chambers Subdivision$100,000. 119 COUNTY OF WELD STATE OF COLORADO Computation of Legal Debt Margin (Unaudited) December 31,2003 Assessed Value,2002 $ 2,487,423,740 Debt Limit 3 Percent of Assessed Value 74,622,712 Amount of Debt Applicable to Limit: Total Bonded Debt $0 Installment Purchase Agreements 0 Total Amount of Debt Applicable to Debt Limit 0 Legal Debt Margin $ 74,622,712 Debt Limitation: Under Section 30-35-201, Colorado Revised Statutes, 1973,the County may incur indebtedness for general County purposes in an amount not to exceed 3%of assess valuation of all taxable property. 120 COUNTY OF WELD STATE OF COLORADO Demographic Statistics (Unaudited) Last Ten Years Estimated Total Per Median Population Housing Year Population Median Age Personal Income Capita Income Family Income Per Household Units 1994 140,320 " $2,568,335,000 $17,776 $36,296 2.68 54,551 1995 146,643 32.00 2,739,133,000 18,475 40,524 2.68 56,207 1996 149,332 32.30 2,930,552,000 19,328 41,693 2.68 56,849 1997 154,930 32.50 3,116,653,000 20,038 41,704 2.73 57,618 1998 166,547 32.80 3,521,000,000 21,144 40,561 2.70 59,592 1999 174,342 33.10 3,888,000,000 22,301 43,301 2.70 61,488 2000 180,936 30.90 4,217,000,000 23,016 49,569 2.78 66,194 2001 193,929 32.20 4,357,000,000 22,469 2.70 67,396 2002 202,329 31.20 4,467,000,000 23,189 2.80 70,216 2003 207,120 31.90 4,772,000,000 23,869 58,640 2.81 71,935 Source: Greeley/Weld Economic Development Office(EDAP) Actual not available-information is estimated Information is not available 121 COUNTY OF WELD STATE OF COLORADO Principal Taxpayers (Unaudited) December 31,2003 Percent 2002 Of Total Assessed Assessed Valuation Valuation Kerr-McGee Rocky Mountain Corporation $ 185,549,500 7.46% Patina Oil &Gas Corporation 161,491,590 6.49% Public Service Company of Colorado 106,284,500 4.27% Encana Oil & Gas(USA)Inc 37,432,100 1.51% Eastman Kodak Company 35,998,520 1.45% Merit Energy 32,598,960 1.31% Kerr-McGee Gatering LLC 31,645,600 1.27% Duke Energy Field Services, Inc 29,704,220 1.19% Thermo Cogeneration Partnership 26,309,600 1.06% Quest Corporation 24,827,700 1.00% $ 671,842,290 27.01% 122 COUNTY OF WELD STATE OF COLORADO Miscellaneous Statistics (Unaudited) December 31,2003 1. Date of Incorporation: 1861 2. Form of Government: Home Rule Charter 3. Date Present Charter Adopted: January 1,1976 4. Area-Square Miles: 3,999 square miles 5. County Seat: City of Greeley 6. Employees as of December 31,2003 Elected Officials 9 Department Heads 10 Employees with Benefits 1,060 Employees without Benefits 195 7. Miles of Roads: Paved 679 Unpaved 2,438 Un-maintained 250 8. Building Permits: No.of year Permits Valuation 1994 2,236 62,952,384 1995 1,614 45,372,470 1996 1,721 55.739,785 1997 1,773 70,754,537 1998 1,760 99,568,712 1999 2,087 117,443,469 2000 2,190 143,856,324 2001 2,180 148,426,374 2002 2,082 125,336,288 2003 1,941 201.441,910 9. Motor Vehicle Registration: 1994 211,713 1995 247,579 1996 254,312 1997 257,445 1998 261,495 1999 273.191 2000 278,727 2001 294,019 2002 305,879 2003 433,188 10. Special Districts within County: Cities and Towns 31 Schools 17 Fire 22 Water 8 Other 19 Colleges 2 Sanitation 10 11. Cities and Towns: Ault Gilcrest Mead Bethoud Greeley Milliken Brighton Grover Northglenn Dacono Hudson Nunn Eaton Johnstown Pierce Erie Keenesburg Platteville Evans Kersey Raymer Firestone LaSalle Severance Frederick Lochbuie Thomton Ft.Lupton Longmont Windsor Garden City 12. Recreation: Golf Courses-5 City and Regional Parks Island Grove Recreational Complex Greeley Recreation Center 123 COUNTY OF WELD STATE OF COLORADO Miscellaneous Statistics-Continued (Unaudited) December 31,2003 13. Libraries: Volumes Ault Town Library 26,564 Eaton Library 15,741 Fort Lupton Library 38,780 Glen A Jones Library 20,418 Hudson Library 14,410 Platteville Library 19,318 University of Northern Colorado 1,046,197 Weld Library District 291,083 Windsor Public Library 51296 14. Elections: Number of Number Percent of Registered of Votes Registered Voters Cast Voters Voting 1994 General Election 69,887 41,075 58.8 1995 Coordinated Election 67,572 21,882 32.4 1996 General Election 78,700 55,313 70.3 1997 Coordinated Election 83,856 22,745 27.1 1998 General Election 91,156 47,212 51.8 1999 Coordinated Election 60,536 ' 21,989 36.3 2000 General Election 80,041 ' 65,317 81.6 2001 Coordinated Election 79,289 * 22,422 28.3 2002 General Election 85,161 ' 56,730 66.6 2003 Coordinated Election 76,245 ' 32,476 42.6 *number of active registered voters 15. Media: Newspapers: The Greeley Tribune Town&Country News Aims College World The Mirror(UNC) North Weld Herald Farmer&Miner South Weld Sun Johnstown Breeze Ft.Lupton Press Platteville Herald Windsor Beacon Erie Echo Ft.Morgan Times LaSalle Leader Platte Valley Voice The Centennial News Radio Stations: KFKA/KWS KGRE/KHNC KUAD AM&FM KUNC FM Television: Receives commercial and public television originating from both Denver and Cheyenne stations; also cable television. 16. Sales Tax as of December 31,2003 State: 2.9% Source: Weld County offices. Individual Libraries 124 COUNTY OF WELD STATE OF COLORADO Insurance in Force (Unaudited) December 31,2003 Policy Policy Period Annual Name of Company Number Begins ,Ea gins Details of Coverage Liability Limits Premium Midwest Employers 2392-SO-CO 01/01/03 12/31/03 Excess Worker's Employers Liability Casualty Company Compensation $1,000,000/Accident. Workers Compensation Statutory Limits with County retaining first $300,000 each claim. $39,914 St.Paul Fire and Marine GP06301110 07/01/03 12/31/03 Property damage, Properly: $50,000,000/ Insurance Company automobile liabilities, occupancy/$500 deductible. (Colorado Counties general liability,public All Liability: $250,000/person; Casualty&Property officials. $600,000/claim. Pool) Excess Liability: (Federal and Out-of-State Only) $2,750,000/person Excess $250,000: $600,000/Claim. St.Paul Fire and Marine GP06301129 Excess Casualty and Excess$400,000 Insurance Company Boiler&Machinery Crime: $150,000/Loss (Colorado Counties $500 Deductible Casualty&Property Property Claim Pool) County retaining first $197,226 $125,000 each claim 125 COUNTY OF WELD STATE OF COLORADO Salaries of Principal Officials (Unaudited) December 31,2003 ELECTED OFFICIALS: Commissioners $ 59,000 Clerk&Recorder $ 67,000 Assessor $ 67,000 Sheriff $ 80,000 District Attorney $ 100,000 APPOINTED: County Attorney $ 140,595 Director of Planning $ 114,820 Director of Finance and Administration $ 186,215 Director of General Services/ Purchasing/Personnel $ 128,344 Director of Paramedic Services $ 93,340 Director of Social Services $ 112,608 Director of Health Department $ 161,486 Director of Human Services $ 116,494 Controller/Treasurer $ 125,467 Public Works Director $ 115,361 Surety Bond Coveraae for Principal Officials (Unaudited) December 31,2003 District Attorney $ 5,000 Commissioner $ 25,000 Treasurer $ 250,000 Sheriff $ 20,000 Assessor $ 6,000 Coroner $ 25,000 County Clerk $ 25,000 County Clerk(Titles&Deeds) $ 5,000 Director of Finance&Administration $ 100,000 Note: All bonds are issued by the St. Paul Insurance Company and are on file with the Weld County Clerk and Recorder. 126 COUNTY OF WELD STATE OF COLORADO Private Purpose Revenue Bonds (Unaudited) December 31,2003 INDUSTRIAL REVENUE BONDS: DEBT REVENUE BOND TYPE OF ISSUE OUTSTANDING OUSTANDING ISSUER FACILITY AMOUNT DATE BEGINNING OF YEAR ISSUED RETIRED END OF YEAR Waste Service Corporation Landfill $860,000 2/91 $530,000 $0 $50,000 $480,000 Waste Service Corporation Landfill 2,500,000 2/91 1,640,000 0 125,000 1,515,000 RVNA Home Care Service,Inc Office 501,000 7/97 435,507 0 15,728 419,779 MAK Group,LLC Manufacturing 1,345,000 6/01 1,345,000 0 0 1,345,000 Greeley Center for Therapeutic Independence,Inc Center 1,350,000 8/96 1,097,557 0 50,643 1,046,914 Centennial Area Office Health Education Central 388,000 5/99 351,795 0 12,010 339,785 GSSLB Association Nursing Home Nursing Home 2,020,000 10/98 1,825,000 0 95,000 1,730,000 Greeley Center for Therapeutic 1,650,000 9/03 0 1,650,000 13,252 1,636,748 Independence,Inc Center TOTAL PRIVATE PURPOSE REVENUE BONDS $7 224 859 $1 650.000 $361.633 4R• 1,1 726 127 COUNTY OF WELD STATE OF COLORADO Computation of Overlapping Bonded Debt General Obligation Bonds December 31,2003 Net General Obligation Percentage Amount Bonded Debt Applicable to Applicable to Jurisdiction Outstanding Government Government Cities&Towns $ 60,898,548 72.42% $ 44,102,961 Schools 586,573,026 49.10% 288,029,696 Special Districts 54,313,509 88.41% 48,018,592 Total Overlapping $ 701 785 083 $ 380 151.249 128 Single O Audit COLORADO of ANdERSON AP tifiedPublcAporuntnts Certified Public Accountants ©WI—IITNEy ■ NMI ■ Independent Auditors' Report on Schedule of Expenditures of Federal Awards Board of County Commissioners Weld County, Colorado We have audited the basic financial statements of Weld County, Colorado for the year ended December 31, 2003, and have issued our report thereon dated May 21, 2004. These basic financial statements are the responsibility of Weld County, Colorado, management. Our responsibility is to express an opinion on these basic financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of Office of Management and Budget Circular A-133,Audits of States, Local Governments, and Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether the basic financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the basic 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. Our audit was conducted for the purpose of forming an opinion on the basic financial statements of Weld County, Colorado taken as a whole. The accompanying Schedule of Expenditures of Federal Awards is presented for purposes of additional analysis and is not a required part of the basic financial statements. The information in that schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly presented in all material respects in relation to the basic financial statements taken as a whole. a.._ _ P. c . May 21, 2004 5801 West 11th Street• Suite 300 (970)352-7990 Greeley, Colorado 80634-4813 129 FAX(970) 352-1855 WELD COUNTY, COLORADO SCHEDULE OF FINDINGS AND QUESTIONED COSTS Year Ended December 31, 2003 SUMMARY OF AUDITORS' RESULTS a Type of report issued on financial Unqualified statements D Type of report issued on major programs Unqualified D Audit findings disclosed None )2- Major programs Social Services Block Grant 93.667 Child Support Enforcement 93.563 Low Income Energy Assistance 93.568 Foster Care 93.658 WIA Cluster 17.258, 17.239, 17.260 Employment Services Cluster 17.207, 17.801, 17.805 Child Care Cluster 93.575, 93.596 D Dollar threshold between Type A and Type B programs $1,036,400 Low-risk auditee Yes FINDINGS RELATED TO FINANCIAL STATEMENTS None Reported FINDINGS AND QUESTIONED COSTS RELATED TO FEDERAL AWARDS None Reported 130 WELD COUNTY, COLORADO SUMMARY SCHEDULE OF PRIOR YEAR AUDIT FINDINGS Year Ended December 31, 2003 SUMMARY OF PRIOR AUDIT FINDINGS THERE WERE NO PRIOR AUDIT FINDINGS 131 istri " IDe. COLORADO I WELD COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED DECEMBER 31,2003 ACCRUED ACCRUED (DEFERRED) RECEIPTS RECEIPTS RECEIPTS (DEFERRED) FEDERAL REVENUE FEDERAL STATE LOCAL TOTAL REVENUE Federal YEAR FUND GRANT DESCRIPTION FC DA9 12/31/2002 MS ARE $HARE SHARE RECEIPTS EXPENDTTUREC 12/31/2003 FxpendlurQ DIRECT FEDERAI GRANTS OR CONTRACTS 2003 2611 Head Start 93.600 0 2.738.977 2.738,977 2,738.977 0 2.738,977 2003 2614 Head Start 97.600 113.957 2.233,613 2.233.613 2,119,656 0 2,119.656 2002 2614 Head Start 93.600 0 32.000 32.000 32,000 0 32.000 SUBTOTAL DEPARTMENT OF HEALTH AND HUMAN SERVICES 113,957 5,004,590 0 0 5,004,590 4,890,633 0 PASSED THROUGH THE STATE OF COLORADO DEPARTMENT OF HUMAN SERVICES Supplemental Foods 2003 2676 CSFP Program 10.565 48,177 207.641 207,641 218,447 58,983 218,447 2003 2676 CSFP Value of Commodities 10.565 (318,246) 998.372 998,372 1.085.261 (231,357) 1.085,261 ( 2003 2100 Emergency Food Assistance Program-Adnin 10.568 0 12.149 12,149 12,149 0 12,149 Lis W 2003 2100 Emergency Food Assistance Program-Food Commodities 10.568 0 98,246 98,246 98,246 0 98,246 2003 2653/54 Nutrition Service Incentive 10.570 14,434 58.047 58,047 58,461 14.848 58.461 2003 2100 Food Stamp Administration 10.561 9,626 70,302 35.151 35,151 140,603 139.403 8,426 69.701 2003 2100 Food Stamp Program 10.551 (3.893) 7.208,829 7,208,829 7.209.923 (2,799) 7,209,923 2003 2100 Food Stamp Administration 10.561 11,234 91.741 1,821 22,647 116.209 113.450 8.475 89,563 SUBTOTAL DEPARTMENT OF AGRICULTURE (238,668) 8,745,327 36,971 57,798 8,840,096 8,935,340 (143,424) WELD COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED DECEMBER 31,2003 ACCRUED ACCRUED (DEFERRED) RECEIPTS RECEIPTS RECEIPTS (DEFERRED) FEDERAL REVENUE FEDERAL STATE LOCAL TOTAL REVENUE Federal YEAR EMS) GRANTDFSCRIPTION CFDAN 12(31/2002 HARE SHARE SHARE RECEIPTS EXPENDITI IRF° 12/31/2003 Expenditure Special Program for the Aging,Title III 2003 2652 OAA-B Supportive Services 93.044 17,000 193,609 193.609 223.613 47,004 223,613 2003 2651 OAA-Administration 93.044 251 52,591 52,591 52,340 0 52,340 2003 2658 OAA-Omsbudsman Supp 93.042 390 4.328 4,328 4,279 341 4,279 2003 2653 OAA-C Nuttin Services 93.045 4.300 182.907 182.907 185.897 7,290 185.697 Area Agency for the Aging.Part C-ll 2003 2654 Delivered Meals 93.045 1,131 27,634 27,634 29.528 3.025 29,528 Area Agency far the Aging,Part 0 2003 2655 OAA-D in Home Support 93.043 3,531 15.163 15,163 13,145 1,513 13.145 2003 2657 Elder abuse 93.041 1,187 2.987 2,987 1,807 7 1,807 2003 OAA-E National Caregiver 93.052 20,147 93,224 93,224 81,357 8,280 81.357 Total Area Agency for the Aging 47,937 572.443 0 0 572.443 591,966 67,460 2003 2100 Ternporan/Assistance far Needy Families 93.558 53,764 1,754,320 89,567 1,843,887 1,839.595 49,472 1.750.236 2003 2100 Child Care Mandatory&MakNn Funds of Child Care Er Development 93.596 3,169,160 933,498 516,218 4.618.876 4,620,750 3.170,446 2003 2100 Chid Care and Development Block Grant 93.575 193,604 57,027 31,536 282.167 282.281 193,682 2003 2100 Social Services Block Grant 93.667 66,219 19,505 10,786 96,510 96,549 66,245 (17.085) 3,428,982 1,010.030 558.540 4,997,553 4,999,580 (15,057) r•r W 2003 2100 Child Welfare Services State Grants 93.645 180,326 171,244 52,445 404,015 403,556 160.121 ✓ 2003 2100 Foster Care Title IV-E 93.658 2,199,456 2,088,686 639,677 4,927,819 4.922.218 2,196.956 2003 2100 Adoption Assistance 93.659 391.252 371,548 113,790 876,590 875.594 390.808 2003 2100 Social Services Block Grant 93.667 1,593,596 1,513,339 463,472 3.570.407 3.566.350 1,591.785 2003 2100 Medical Assistance Program 93.778 1,943,343 1,845.472 565,191 4,354,005 4,349.056 1,941,134 250,837 6,307,972 5.990.289 1,834,574 14,132,836 14,116.774 234,775 2003 2100 Food Stamp Adnnisbaton 10.561 367,576 234,469 150,563 752.608 739,137 360,997 2003 2100 Child Support Enforcement 93.563 52,732 33,636 21,600 107,968 106,035 51.768 2003 2100 Social Services Block Grant 93.667 25,283 16,128 10,356 51,767 50,841 24,831 2003 2100 Medical Assistance Program 93.778 342,704 218,603 140.375 701,683 689.122 336,570 145,752 788,296 502,836 322,894 1.614.026 1,585,135 118,861 2003 2100 Child Support Enforcement 93.563 81.122 1,049,927 533.122 1,583,048 1,587.790 85,864 1,053,071 2003 2100 Low Income Home Energy Assistance 93.568 21,771 1,039,219 2.041 1.041,260 1,030,943 11.454 1,028.922 2003 2100 Medical Assistance Program 93.778 2,610 23.351 4,464 27,815 25.205 0 21.160 2003 2100 Chafes Foster Care Independent Living 93.674 6,724 89.720 89,720 95.743 12.747 95.743 2003 2100 Foster Care Title IV-E 93.658 0 130.671 130,671 130.671 0 130,671 2003 2100 Food Stamp Administration 10.561 63,309 0 109,132 172,441 172,441 63.309 2003 2100 Child Support Enforcement 93.563 92,885 0 160,116 253.001 253.001 92,885 2003 2100 Foster Care The N-E 93.658 91,565 0 157,841 249,407 249,407 91,565 2003 2100 Adoption Assistance 93.659 9,503 0 16,381 25,883 25.883 9,503 2003 2100 Medical Assistance Program 93.778 60.638 0 104,528 165,165 165,165 60.638 0 317.900 547,998 865.897 865,898 0 1 WELD COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED DECEMBER 31,2003 ACCRUED ACCRUED (DEFERRED) RECEIPTS RECEIPTS RECEIPTS (DEFERRED) FEDERAL REVENUE FEDERAL STATE LOCAL TOTAL REVENUE Federal YEAR FUND GRANT DESCRIPTX)N CFDAP 12/31/2002 SHARE ak7B3E SHARE RECEIPT$ FXPFNDITIIRF' 12/31/2003 Fxoenditur8 2003 2100 Food Stamp Adnniaea6on 10.561 82,173 148,354 230,527 230,527 82,173 2003 2100 Child Support Enforcement 93.563 128,195 231,443 359,638 359,638 128,195 2003 2100 Foster Care Tide N-E 93.658 98,443 177,729 276,172 276.172 98,443 2003 2100 Adoption Assistance 93.659 11,603 20,949 32,552 32.552 11,603 2003 2100 Medical Assistance Program 93.778 84,152 151,927 236,078 236,078 84,152 0 404,566 730,401 1.134,967 1,134,967 (0) 2003 2100 Medical Assistance Program 93.778 (14.953) (6,749) (6.74 ) (13,498) (26,997) (12,347) (304) -3,087 I SUBTOTAL.DEPARTMENT OF HEALTH AND HUMAN SERVICES 578,419 27,148,332 15,069,130 8,514,944 50,752,406 50,694,275 563,272 PASSED THROUGHT COLO DEPT OF HEALTH CARE POLICY AND FINANCE 2003 265995 Medical Assistance Program 93.778 0 250,031 250,031 250.031 0 250,031 PASSED THROUGH THE DEPARTMENT OF LOCAL AFFAIRS 2003 2678 Community Services Block Grant 93.031 55,525 255,583 255,583 218,767 18,709 218,767 Total Community Services Block Grant 55,525 255,583 0 0 255,583 218,767 18,709 La PASSED THROUGH THE COLORADO DEPARTMENT OF LABOR 1999 Welfare to Work 17.253 16,976 103,337 103,337 80,133 (6,228) 80,133 2003 Ul Re-employment Services 0 999 999 1,554 555 1,554 2003 WIA Dislocated Wakes 17.260 0 0 0 11,998 11,998 2002 WIA Dislocated Wakes 17.260 3,804 29.544 29.544 25,740 0 25,740 2001 WIA Dislocated Workers 17.260 4,447 45,359 45.359 40,912 0 40,912 2003 WIA Dislocated Workers 17.260 0 17,683 17,683 27,527 9,844 27.527 2002 Employment Service 17.207 0 19,064 19,064 19.064 0 19.064 2003 2626 Employment Service 17.207 0 231,146 231,146 293.353 62,207 293,353 2002 2626 Employment Service 17.207 78,805 303,663 303,663 224,858 0 224,858 2002 DVOP 17.801 167 1,167 1.167 1,000 0 1,000 2003 DVOP 17.801 0 625 625 750 125 750 2002 Reed Act 0 13,302 13,302 28,286 14,984 28,286 TOTAL PASSED THROUGH THE COLORADO DEPARTMENT OF LABOR 104,199 765,889 0 0 785,889 755,175 93,485 WELD COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED DECEMBER 31,2003 ACCRUED ACCRUED (DEFERRED) RECEIPTS RECEIPTS RECEIPTS (DEFERRED) FEDERAL REVENUE FEDERAL STATE LOCAL TOTAL REVENUE Federal YEAR FUND GRANT DESCRIPTION CFDA# 12/31/2002 HS ARE SHARF SHARE RECEIPTS EXPENDrTUREc 12/31/2003 Expenditure PASSED THROUGH THE STATE OF COLORADO DEPARTMENT OF HEALTH 2003 2500 Surveys,Studies,Investigations and Special Purpose Grants 66.606 11,475 39,309 50,784 67,712 16.928 15,300 2002 2500 Surveys.Studies,Investigations and Special Purpose Grants 66.606 16,63 4.021 12,617 16.638 (0) 0 2003 2500 Performance Partnership Grants 66.605 11,200 11.200 11.200 0 11,200 20032611/14 Child and Adult Care Food Program 10.558 38,22 205.125 205,125 260.223 93.325 260,223 2002/03 2500 Family Planning Services 93.217 13,24 13.240 49.282 62,522 49.282 (0) 10,436 2003/04 2500 Panty Panning Services 93.217 69,555 69,555 83,466 13.911 83,466 2002/03 2500 Maternal and Chad Health Services Block Grant 93.994 86,116 86,116 86.116 0 86.11 2003/04 2500 Maternal and Chad Health Services Block Grant 93.994 28.707 28,707 28.707 0 28,70 2002/03 2500 Project Grants&Cooperative Agreements for TB Control 93.116 14.582 14.582 14,582 0 14,58 2002/03 2500 Project Grants 6 Cooperative Agreements for TB Control 93.116 6.51 6.512 6.512 0 2002/03 2500 Project Grants 6 Cooperative Agreements for TB Control 93.116 41,14 13,545 66,445 79.990 38,848 0 6,57 2003/04 2500 Project Grants&Cooperative Agreements for TB Contra 93.116 10,625 11.579 22.204 31,913 9,709 15,27 2002/03 2500 Medical Assistance Program 93.778 81,08 269.022 269.022 187,941 0 2003/04 2500 Medical Assistance Program 93.778 140.291 140,291 173,282 32,991 2002 2500 HIV Prevention Activities 93.940 6,156 6.156 6,156 0 2002 2500 HN Prevention Activities 93.940 288 288 288 0 2003 2500 knnunlation Grants 93.268 2,504 43.937 43,937 45.382 3,949 45,38 2002 2500 Preventive Health Services Sexually Transmitted Desease Control 93.977 827 827 827 0 W 2003 2500 Family Planning Services 93.217 0 7.237 7,237 7,895 658 7,895 CT 2002/03 2500 Grants to Provide Outpatient Early mterventlan w Respect to HN 93.919 7.312 29,599 29,599 22.287 0 2003/04 2500 Grants to Provide Outpatient Early Intervention w Respect to HN 93.919 0 15,020 15,020 22,927 7.907 2003/04 2500 Maternal and Chad Health Services Block Grant 93.994 0 14,646 14,646 43.565 28,918 2002/03 2500 Maternal and Child Health Services Block Grant 93.994 32,531 36,561 82.663 119.225 100.797 14.103 2001/02 2500 Maternal and Child Health Services Block Grant 93.994 12,761 12,761 12.761 0 2002/03 2500 Medical Assistance Program 93.778 19,418 28,722 28.722 57,444 38.026 (0) 19,01 2003 2500 Immunization unization Grants 93.268 0 85.622 85.622 85,622 0 85,622 2002/03 2500 Center for Disease Conical and Prevention 93.283 32.240 38.931 38.931 6,691 0 0 2003/04 2500 Center for Disease Control and Prevention 93.283 0 0 0 123,537 123,537 0 1001 2500 Immunization Grants 93.268 3,150 3,150 3.150 0 0 2002/03 2500 Center for Disease Control and Prevention 93.283 107.857 107,857 107.857 0 107.857 2003/04 2500 Center for Disease Control and Prevention 93.283 2,893 2,893 10.257 7,364 10.257 2002/03 2500 Center ter Disease Control and Prevention 93.283 146,548 146,548 146,548 146.548 2003/04 1500 Center for Disease Control and Prevention 93.283 16,513 16.513 35.189 18,67 35,189 2002/03 2500 Center for Disease Control and Prevention 93.283 80,000 80.000 80.000 80,000 2003/04 2500 Center for Disease Control and Prevention 93.283 0 0 16.567 16,56 2002/03 2500 Center for Disease Control and Prevention 93.283 91,619 91,619 91,619 91,819 2002/03 2500 Center for Disease Control and Prevention 93.283 26,345 26.345 26.345 28.345 2003 2500 Center for Disease Control and Prevention 93.283 4,849 4,849 4.849 ( ) 4.849 2003 2500 Center fix Disease Control and Prevention 93.283 360 360 360 360 2003 2500 Cooperative Agreements for State Based Diabetes Control 93.988 2,000 2.000 2,000 2,000 2003 2500 Preventive Health and Health Services Block Grant 93.991 1,000 1,000 1,000 1,000 2002/03 2500 Capitalizatin Grants for Clean Water State Revolving Funds 66456 1,200 1,200 1,200 1,200 2002/03 2500 Preventive Health and Health Services Block Grant 93.991 19,421 19,421 19.421 19,421 2003 2500 Center for Disease Control and Prevention 93.283 20,000 20,000 20.000 20,000 2003 2500 Preventive Heath and Health Services Block Grant 93.991 3,354 3,354 4.000 64 4,000 2003 2500 Immunization Grants 93.268 5.840 5.840 5,840 5,840 2003 2500 immunization Grants 93.268 4,050 4.050 4.200 15 4,200 TOTAL PASSED THROUGH THE STATE DEPARTMENT OF HEALTH 314,02 1,332,011 899,929 0 2,031,940 2,107,253 389,34 .161— WELD COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED DECEMBER 31,2003 ACCRUED ACCRUED (DEFERRED) RECEIPTS RECEIPTS RECEIPTS (DEFERRED) FEDERAL REVENUE FEDERAL STATE LOCAL TOTAL REVENUE Federal YEAR FUND GRANT OFSCRIPTION CFDAA 12/31/2002 SHARE SHARE SHARE RECEIPTS EXPENDITIIRFC 12/31/2003 Expenditure PASSED THROUGH COLORADO DEPARTMENT OF TRANSPORTATION 2003 2662 Federal Transit Formula Grant 20.507 24,633 69,633 69,633 90.000 45,000 90,000 2002 119400 State and Community Highway Safety 20.600 0 32.772 32,772 32,772 0 32,772 TOTAL PASSED THROUGH COLORADO DEPT OF TRANSPORTATION 24,633 102,405 0 0 102,405 122,772 45,000 PASSFD THROUGH THE STATE OF COLORADO DEPARTMENT OF LABOR AND EMPLOYMENT 2003 2636 INK Adult Program 17.258 0 0 0 15,341 15.34 2002 2636 WIA Adult Program 17.258 11,025 98,373 98.373 90,269 2.92 90,269 2003 2636 WIA Adult Program 17.258 0 24.376 24.376 37,315 12.93 37.315 2002 2636 WIA Adult Program 17.258 3.524 57,070 57,070 53.546 53.548 2001 2636 WIA Adult Program 17.258 7,489 7,545 7.545 56 56 2002 2637 WIA Youth Activities 17.259 30,31 202,341 202,341 172,026 172.026 2001 2637 WIA Youth Activities 17.259 2.81 61,515 61,515 58,700 58,700 F.. 2003 2637 WLA Youth Activities 17.259 107,328 107,328 131,392 24,064 131.392 W 2002 2643 WIA Dislocated Workers 17.260 4,56 53,452 53,452 48,890 48.890 2003 2643 WIA Dislocated Workers 17.260 8.128 8,128 25.227 17.099 25.227 2001 2643 WIA Dislocated Workers 17.260 16.895 16,895 16.895 16,895 2002 2643 WIA Dislocated Workers 17.260 51,157 51,157 51,157 51.157 2002 2841 WIA Dislocated Workers 17.260 34,893 34,893 36,915 2,02 36,915 2001 2641 WIA Dislocated Workers 17.260 2.11 26,387 26,387 27,501 3,22 27,501 2000 2641 WLA Dislocated Workers 17.255 9,33 32,332 32,332 23,000 9.332 TOTAL PASSED THROUGH COLE 71,17 781,792 0 0 781,792 768,230 77,61 PASSFD THROUGH THE STATE DIVISION OF CRIMINAL JUSTICE 2003 1120 Crime Victim Assistance 16.575 0 29.859 7,465 37,324 37.324 0 29.859 2003 1140 Violence Against Women Fornrda Grants 16.588 0 6,750 2.250 9,000 9.000 0 6.750 2003 1000 Crime Victim Compensation 16.576 0 8,636 8,636 8,636 0 8,636 TOTAL PASSED THROUGH THE STATE DIVISION OF CRIMINAL JUSTICE 0 45,245 0 9,715 54,960 54,960 0 Grand Total 1,023,325 44,431,206 15,825,030 8,582,457 68,839,692 68,817,436 1,043,993 33,018,566 COUNTY OF WELD STATE OF COLORADO Notes to Schedule of Expenditures of Federal Awards For the Fiscal Year Ended December 31, 2003 Note 1 - Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grant activity of the County of Weld,Colorado and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Circular A-133, Audits of State, Local Governments, and Non-Profit Organizations. Therefore,some amounts presented in this schedule may differ from amounts presented in,or used in the preparation of the basic financial statements. Note 2 - Commodity Supplemental Food Program Non-monetary assistance is reported in the schedule at the fair market value of the commodities distributed during the year. At December 31, 2003, the County had food commodities totaling $231,357 in inventory, with a corresponding amount reported as deferred revenue to be realized when distributed. Note 3 - Sub-recipient The County does not have any significant sub-recipients. 138 A Professional Corporation of A _ dERSO ' Certified Public Accountants ©WI1ITNEy ■ • • • ■ Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Board of County Commissioners Weld County, Colorado We have audited the financial statements of Weld County as of and for the year ended December 31, 2003, and have issued our report thereon dated May 21, 2004. We conducted our audit in accordance with auditing standards generally accepted in the United States and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Compliance As part of obtaining reasonable assurance about whether Weld County's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. Internal Control Over Financial Reporting In planning and performing our audit, we considered Weld County's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the basic financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the basic financial statements j being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. However, we noted other matters involving the internal control over financial reporting that we have reported to management of Weld County in a separate letter dated May 21, 2004. 5801 West 11th Street•Suite 300 139 (970)352-7990 Greeley, Colorado 80634.4813 FAX(970) 352-1855 Board of County Commissioners Weld County, Colorado Page 2 This report is intended for the information and use of management, federal awarding agencies, and pass-through entities, and is not intended to be and should not be used by anyone other than these specified parties. May 21, 2004 140 A Professional Corporation of ANduzsoN Certified Public Accountants • ©WI—IITNEy ■ • • • ■ Report on Compliance with Requirements Applicable to Each Major Program and Internal Control Over Compliance in Accordance with OMB Circular A-133 Board of County Commissioners Weld County, Colorado Compliance We have audited the compliance of Weld County with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance Supplement that are applicable to each of its major federal programs for the year ended December 31, 2003. Weld County's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. Compliance with the requirements of laws, regulations, contracts, and grants applicable to each of its major federal programs is the responsibility of Weld County's management. Our responsibility is to express an opinion on Weld County's compliance based on our audit. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States; the standard applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133,Audits of States, Local Governments, and Nonprofit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about Weld County's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on Weld County's compliance with those requirements. In our opinion, Weld County complied, in all material respects, with the requirements referred to above that are applicable to each of its major federal programs for the year ended December 31, 2003. Internal Control Over Compliance The management of Weld County is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts, and grants applicable to federal programs. In planning and performing our audit, we considered Weld County's internal control over compliance with requirements that could have a direct and material effect on a major federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133. 5801 West 11th Street•Suite 300 141 (970) 352-7990 Greeley, Colorado 80634-4813 FAX(970) 352-1855 Board of County Commissioners Weld County, Colorado Page 2 Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation of one of more of the internal control components does not reduce to a relatively low level the risk that noncompliance with applicable requirements of laws, regulations, contracts, and grants that would be material in relation to a major federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. This report is intended for the information and use of management, federal awarding agencies, and pass-through entities, and should not be used by anyone other than these specified parties. anatst-o.Q.._ ,4-- (-4-442e),4?_ -P C_ May 21, 2004 142 Hello