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Home My WebLink About890572.tiff RESOLUTION RE: ACCEPT COMPREHENSIVE ANNUAL FINANCIAL REPORT OF YEAR ENDED DECEMBER 31 , 1988 WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Department of Finance and Administration of Weld County, Colorado, has prepared the Comprehensive Annual Financial Report of the County of Weld, State of Colorado, for the year ended December 31 , 1988 , and WHEREAS, after review, the Board deems it advisable and in the best interest of Weld County to accept said Financial Report, a copy of which is attached hereto and incorporated herein by reference . NOW, THEREFORE, BF IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Comprehensive Annual Financial Report for the year ended December 31 , 1988 , be, and hereby is , accepted. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 5th day of July, A.D. , 1989 . BOARD OF COUNTY COMMISSIONERS ATTEST: ' WELD COUNTY, COLORADO Weld County Clerk and Recorder h' and Clerk to the Boa C.W. Kirby, C airman d \. 0 rp e e Jos Pro-Tem eputy County Cl rk K y ,ene R. B APPR VED AS TO FORM: Bran y2 George K nn y EA_,County Attorney Gor Lacy` 890572 4(,tn7 COMPREHENSIVE ANNUAL 4t(t : FINANCIAL WFi`�YC REPORT COLORADO Year Ended December 31, 19 8 8 COUNTY of WELD STATE of COLORADO r-r COMPREHENSIVE ANNUAL FINANCIAL REPORT COUNTY OF WELD STATE OF COLORADO YEAR ENDED DECEMBER 31, 1988 Issued by: Department of Finance & Administration Donald D. Warden, Director Finance and Administration : MOM ' .t it „ fir ;in COLORADO S'P-4 :ki INTRODUCTORY SECTION flDc COLORADO 8905'72 t TABLE OF CONTENTS Page INTRODUCTORY SECTION Table of Contents 1 Letter of Transmittal 7 Government Finance Officers ' Association Certificate of Achievement for Excellence 17 Organization Chart 18 Principal County Officials 19 FINANCIAL SECTION Auditors Report 21 GENERAL PURPOSE FINANCIAL STATEMENTS COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS . . . 24 COMBINED STATEMENT OF REVENUES , EXPENDITURES AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS 26 COMBINED STATEMENT OF REVENUES AND EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES . . 28 COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS/FUND BALANCES - ALL PROPRIETARY FUND TYPES, PENSION TRUST AND NONEXPENDABLE TRUST FUNDS 30 COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION - ALL PROPRIETARY FUND TYPES, PENSION TRUST AND NONEXPENDABLE FUNDS 31 NOTES TO FINANCIAL STATEMENTS 32 COMBINING INDIVIDUAL FUND AND INDIVIDUAL ACCOUNT GROUP FINANCIAL STATEMENTS AND SCHEDULES GENERAL FUND BALANCE SHEET 53 Schedule of Revenues and Expenditures, Budget and Actual . 54 SPECIAL REVENUE FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS 59 COMBINING BALANCE SHEET 60 -1- �.y�� 905I2 • TABLE OF CONTENTS - (CONTINUED) Page SPECIAL REVENUE FUNDS (Continued) : COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 62 Road and Bridge Fund - Schedule of Revenues and Expenditures, Budget and Actual 64 Social Services Fund - Schedule of Revenues and Expenditures, Budget and Actual 65 Conservation Trust Fund - Schedule of Revenues and Expenditures, Budget and Actual 67 Contingent Fund - Schedule of Revenues and Expenditures, Budget and Actual 68 Public Health Fund - Schedule of Revenues and Expenditures, Budget and Actual 69 Human Resources Fund - Schedule of Revenues and Expenditures, Budget and Actual 70 Solid Waste Fund - Schedule of Revenues and Expenditures , Budget and Actual 72 Housing Authority Fund - Schedule of Revenues and Expenditures , Budget and Actual 73 CAPITAL PROJECTS FUND EXPLANATIONS OF INDIVIDUAL FUNDS 75 BALANCE SHEET 76 Capital Expenditures Fund - Schedule of Revenues and Expenditures, Budget and Actual 77 • ENTERPRISE FUNDS EXPLANATION OF INDIVIDUAL FUNDS 79 BALANCE SHEET 80 Schedule of Operating Revenue Compared with Estimate . . . 81 Schedule of Non-Operating Revenue Compared with Estimate . 81 Schedule of Expenses Compared with Budget - 81' • -2- 890572 TABLE OF CONTENTS - (CONTINUED) Page INTERNAL SERVICE FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS 83 COMBINING BALANCE SHEET 84 COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS 86 COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION 88 Motor Vehicle Fund - Schedule of Operating Revenues Compared with Estimate 89 Motor Vehicle Fund - Schedule of Non-operating Revenues Compared with Estimate 89 Motor Vehicle Fund - Schedule of Operating Expenses Compared with Budget 89 Printing and Supply Fund - Schedule of Operating Revenues Compared with Estimate 90 Printing and Supply Fund - Schedule of Operating Expenses Compared with Budget 90 Computer Services Fund - Schedule of Operating Revenues Compared with Estimate 91 Computer Services Fund - Schedule of Non-Operating Revenues Compared with Estimate 91 Computer Services Fund - Schedule of Operating Expenses Compared with Budget 91 Insurance Fund - Schedule of Operating Revenues Compared with Estimate 92 Insurance Fund - Schedule of Non-operating Revenues Compared with Estimate 92 Insurance Fund - Schedule of Operating Expenses Compared with Budget 92 PBX Fund - Schedule of Operating Revenues Compared with Estimate 93 PBX Fund - Schedule of Non-operating Revenues Compared with Estimate 93 PBX Fund - Schedule of Operating Expenses Compared with Budget 93 TRUST AND AGENCY FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS 96 COMBINING BALANCE SHEET 98 STATEMENT OF REVENUES , EXPENSES AND CHANGES IN FUND BALANCES ALL PENSION TRUST FUNDS 100 TABLE OF CONTENTS - (CONTINUED) Page TRUST AND AGENCY FUNDS (CONTINUED) : COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL EXPENDABLE TRUST FUNDS 101 Health Insurance Fund - Schedule of Revenues Compared with Estimate 102 Health Insurance Fund - Schedule of Expenditures Compared with Budget 102 Employee Benefit Fund - Schedule of Revenue 103 Employee Benefit Fund - Schedule of Expenditures 103 NonExpendable Trust Fund - Schedule of Revenues, Expenditures , and Changes in Fund Balance 104 COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES -- ALL AGENCY FUNDS 105 GENERAL FIXED ASSETS ACCOUNT GROUP SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE 107 SCHEDULE OF GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY . . 108 SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY 109 GENERAL LONG-TERM DEBT ACCOUNT GROUP SCHEDULE OF GENERAL LONG-TERM DEBT - BY SOURCE 111 STATISTICAL SECTION General Governmental Expenditures by Function 114 General Revenue by Source 114 Property Value, Construction, Bank Deposits and Other Economic Indications 116 Property Tax Levies and Collections 117 Assessed and Estimated Actual Value of Taxable Property 117 Property Tax Rates and Tax Levies - All Overlapping Governments . 118 Special Assessment Collections 119 Computation of Legal Debt Margin 120 Tables Relating to Bonded Debt 120 Demographic Statistics 121 e� 4_ 890572 TABLE OF CONTENTS - (CONTINUED) Page STATISTICAL SECTION (CONTINUED) : 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 Retirement Plan Required Supplementary Information 128 Computation of Direct and Overlapping Bonded Debt - General Obligation Bonds 129 COMPLIANCE SECTION Report on Supplementary Information - Schedule of Federal Financial Assistance 131 Schedule of Grant Activity 132 Schedule of Findings & Recommendations 141 Report on Internal Control (Accounting and Administrative) Based on a Study and Evaluation Made as Part of an Audit of the General Purpose Financial Statements and Additional Test Required by the Single Audit Act 144 Report on Compliance with Laws and Regulations Related to Major and NonMajor Federal Financial Assistance Programs 146 Report on Internal Accounting Controls Based Solely on a Study and Evaluation Made as Part of an Audit of the General Purpose Financial Statements 148 Appendix 149 Report on Compliance with Laws and Regulations Based on an Audit of the General Purpose Financial Statements 150 -g_ 890S72 474.6 WI Ile COLORADO -6- 7,1;•••;„, '41Ct lag DEPARTMENT OF FINANCE AND ADMINISTRATION PHONE(303)356-4000 EXT.4218 P.O. BOX 758 GREELEY COLORADO 80632 C. COLORADO May 15, 1989 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, 1988, 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 are accurate in all material respects and are 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. The comprehensive annual financial report is presented in four sections: introductory, financial, statistical and single audit. The introductory section includes this transmittal letter, the government's organizational chart and a list of principal officials. The financial section includes the general purpose financial statements and the combining and individual fund and account group financial statements and schedules, as well as the auditor's report on the financial statements and schedules. The statistical section includes selected financial and demographic information, generally presented on a multiyear basis. The County is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act of 1984 and U.S. Office of Management and Budget Circular A-128, Audits of State and Local Governments. Information related to this single audit, including the schedule of federal financial assistance, findings and recommendations, and auditor's reports on the internal control structure and compliance with applicable laws and regulations, are included in the single audit section of this report. The funds and entities related to the County of Weld that are in our Comprehensive Annual Financial Report include those of separately administered organizations that are controlled by or dependent on the County. ' 8s0572 tw<, Honorable Board of Commissioners - Continued: Control or dependence is determined on the basis of budget adoption, taxing authority, funding, scope of public service, ability to influence operation, designation of management, and appointment of the respective governing board. Based upon the foregoing criteria, the financial statements of the following organizations are included in the accompanying financial statements: Weld County Housing Authority -- The Board of County Commissioners appoints the five member board. The majority of funding provided is from state and federal housing grants of which the County is the primary recipient and sponsor. The operation is reported in the Housing Authority Fund, a Special Revenue Fund. Weld County Public Health Board -- The Board of County Commissioners appoints the seven member board and the Director of Public Health. Substantial funding is provided by the County for the operation of the Public Health Department. The Public Health Department's operations are reported in the Health Fund, a Special Revenue Fund. Weld County Retirement Board -- The Retirement Board consists of five members, four appointed by the Board of County Commissioners and the fifth being the elected County Treasurer. The County funds half of the retirement program 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 -- This corporation has three officers who are employees of the County. Funding is through sale of bonds. The operation is accounted for as a non-expendable trust fund. The following organizations are not part of Weld County and are excluded from the accompanying financial statements: North Colorado Medical Center -- The Board of County Commissioners appoints a seven member Hospital Board of Trustees that in turn appoints five of the eleven Normedco Board of Directors. Normedco is a holding company of which the North Colorado Medical Center (NCMC) is a non- profit subsidiary operating the operating the hospital. The County commits no funding. The NCMC has the ability to incur its own debt and its operations are financed totally by patient revenues. Greeley-Weld Airport Authority -- The County Commissioners appoint two' , of the five Airport Authority Board members. The County has contributed approximately 5% of the funds for capital construction. The Authority has full autonomy under Colorado State law, can incur debt, and funds its operations totally from user fees. -g- °w: .:Wit.: 1590572 Honorable Board of Commissioners - Continued: 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. 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. ECONOMIC CONDITION AND OUTLOOK Weld County is located in northeastern Colorado. It ranks as the fourth most productive agricultural county in the nation and third most productive oil and gas county in the Rocky Mountain Region. As a result it has been 1 substantially impacted by the agricultural and energy economic downturn the last few years. However, 1988 was a year of progress for Weld County. The area economy showed substantial improvement. Farming, feeding, Agri-business and food-processing led the way in 1988. 4,122 persons were added to the employment rolls during 1988 for an average of 63,166 employed in 1988. Weld County unemployment dropped from an 8% average in 1987, to 6.9% in 1988. The County's gross sales increased by 11.9% during the year, and taxable sales were up 5.9%. Construction remained sluggish, but real estate sales improved slightly and 1988 ended with increased property sales momentum. Over a thousand new jobs were created by industrial employers who announced new plant investments of $173 million. The primary goal of Weld County's economic development effort is to provide a better quality of life for all Weld County residents by ensuring meaningful economic opportunities for current and future residents. To accomplish this goal, strong emphasis is being placed upon expansion of existing industries with the four year goal of creating at least 1,000 new basic industry jobs and 3,500 indirect jobs. Additional goals include an investment in capital assets of at least $120 million by new or expanding firms. These goals appear realistic with the potential location of a major operation by National Farms in Weld County, potentially large warehousing operation, the construction of $75 million cogeneration plant, and future growth of firms, such as ConAgra. These factors, coupled with the fact that the new Denver airport located 15 miles from Weld County's borders approved by voters on May 8, 1989 and will begin construction in 1990, give Weld County a.great deal of optimism for economic growth. 9' 690572 • Honorable Board of Commissioners - Continued: MAJOR INITIATIVES For the Year: In preparing the 1988 budget the Board identified a number of programs to enhance service delivery to the citizens of Weld County. The development of an E-911 emergency telephone system was initiated with a September, 1990 target date for completion. Resources were devoted to the Assessor's Office to add staff and new computer enhancements to cope with the new legislatively mandated reappraisals. The District Attorney's Juvenile Diversion Program was expanded to deal with troubled youth and relieve the court caseload. A grant from the State allowed for the upgrading of the Countywide Communications System. In the area of capital improvements Weld County developed a 142 acre industrial park with the assistance of an Economic Development Agency grant in the amount of $640,000. The industrial park contains 62 acres which will be used for County facilities, and the remaining 80 acres will be made available as an incentive for economic development activities to attract • industry to Weld County. A new office complex to house the Human Resources Department was built in 1988. The County jail was remodeled to add 24 beds for inmates and to provide for a recreational area for inmates. The construction of a $1.5 million County motor vehicle service center was started in the Fall of 1988 with an anticipated completion date of May, 1989. -In.addition, the..County created a new local improvement district to finance road improvements in the Northmoor Acres area. For the Future: Portions of Weld County became a state-designated Enterprise Zone in early 1988. The designation remains effective through July 1, 1995 . This designation provides certain tax incentives for private enterprise to expand and for new businesses to locate in economically depressed areas of Weld County. The new industrial park Weld County developed is part of the Enterprise Zone and will be incorporated into future incentives for industries to locate in Weld County. The marketing of Weld County will be done with an aggressive prospecting program that will market Weld County to business and industry all over the USA and in some foreign countries. The marketing will be done by the Economic Development Action Partnership, which is a joint effort of Weld County, the City of Greeley, and the Chamber of Commerce. Maintenance and expansion of the County's road and bridge system remains a major concern for Weld County. The County continues to utilize the pavement management program to assist the policy makers in identifying and prioritizing road pavement needs over a 1-5 year plan. Much progress has been made in the maintenance of paved roads by use of the pavement management system and improved repair methodologies in the field. • -10- v .. ... 8905 l 2 Honorable Board of Commissioners - Continued: Department Focus: Development of the new accounts receivable system initiated in 1987 was completed in 1988. The financial system now integrates the accounting, purchasing, outstanding warrant, budget, payroll, fixed asset, and accounts receivable systems into one overall system for financial management. The entire system, as implemented, has on-line inquiry capabilities for all departments and on-line input for accounting, purchasing, and payroll staff. A new automated auditing system was used for the preparation of schedules used in the annual audit and in the preparation of the financial statements. FINANCIAL INFORMATION Management of the County is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the County are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. Single Audit. As a recipient of federal and state financial assistance, the County also is responsible for ensuring that an adequate internal control structure is in place to ensure compliance with applicable laws and regulations related to those programs. This internal control structure is subject to periodic evaluation by management and the internal audit staff of the government. As a part of the County's single audit, described earlier, tests are made to determine the adequacy of the internal control structure, including that portion related to federal financial assistance programs, as well as to determine that the County has complied with applicable laws and regulations. The results of the County's single audit for the fiscal year ended December 31, 1988 provided no instances of material weaknesses in the internal control structure or significant violations of applicable laws and regulations. Budgeting Controls. In addition, the County maintains budgetary controls. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the government's governing body. Activities of the general fund, special revenue funds and debt service fund are included in the annual appropriated budget. Project-length financial plans are adopted for the capital projects funds,. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established at the department level. The government also maintains an encumbrance accounting -11- 690572 Honorable Board of Commissioners - Continued: system as one technique of accomplishing budgetary control. Purchase orders which result in an overrun of department balances are not released until additional appropriations are made available. Encumbered amounts lapse at year end. However, encumbrances generally are reappropriated as part of the following year's budget. As demonstrated by the statements and schedules included in the financial section of this report, the government continues to meet its responsibility for sound financial management. As with the financial section, all amounts presented in the remainder of this letter are expressed in thousands. GENERAL GOVERNMENT FUNCTIONS Revenue for general government functions including General, Special Revenue, Capital Projects and Expendable Trust Funds totalled $56,462,749 in 1988, an increase of 15.7% over 1987. General property taxes and specific ownership taxes produced 34.7% of general revenue compared to 38.4% in 1987 . The amount of revenue from various sources and the increases over 1987 are shown in the following tabulation: Increase Percent (Decrease) Revenue Sources Amount of Total for 1987 Taxes $19,614,179 34.7% $ 767,344 Licenses and Permits 575,744 1.0% (37 ,282) Intergovernmental Revenue 27,359,869 48.5% 6,570,560 Charges for Services 1,632,229 2.9% 482,512 Fines and Forfeits 35,469 0.1% (40,996) Miscellaneous Revenue 5,552,233 9.8% (46,635) Fee Accounts 1,693,026 3.0% (18,868) Total $56,462,749 100.0% $ 7,676 ,635 The mill levy for property taxes collected in 1988 is 16.919, down 2.941% from 1987. The assessed valuation of $1,100,158,530 shows an increase of $193,548 ,630 or 21. 3%. The increase in assessed value is principally attributable to reappraisal of property. Only $5,460,770 of the increase in assessed valuations is attributable to new construction. Current tax collections were 97.9% of the tax levy, down 0.7% from 19.87. Delinquent tax collections were $68,357 compared with $296,802 in 1987. Allocations of property tax by purpose for 1988 and the preceding year are shown as follows: -12- s� aao Honorable Board of Commissioners - Continued: 1988 1987 Purpose Mills Mills General Fund 10.066 11.714 Special Revenue Funds 5.920 7.296 Capital Project Funds .476 .286 Intergovernmental Service Funds .457 . 564 Total Tax Rate 16.919 19.860 Intergovernmental Revenue represented 48.5% of total general governmental revenue, compared with 42.3% for 1987. Expenditures for general governmental purposes including General, Special Revenue, Capital Projects, and Expendable Trust Funds total $56,787,506, an increase of 16.3% over 1987. Increases in levels of expenditures for major functions of the County over 1987 are shown in the following tabulation: Increase Per Cent (Decrease) Expenditure Purpose Amount of Total for 1988 Current Operating: General Government $ 7,251,985 12.8% $ 432,820 Public Safety 7,869,950 13.8% 945, 351 Public Works 8,292,283 14.6% (1,584,063) Public Health & Welfare 20,156,719 35.5% 5,367,685 Culture & Recreation 235,377 0.4% (8,794) Economic Assistance 6,026,464 10.7% 1,535,118 Capital Outlay 3,740,305 6.6% 2,420,033 Debt Service 242,953 0.4% 42,690 Intragovernmental Expenditures 720,201 1.3% 125,219 Miscellaneous 2,251,269 3.9% (1.299.281) Total $56,787 ,506 100.0% $7.976,778 FUND BALANCE Unreserved fund balance and retained earnings in the major operating funds were maintained at adequate levels. The General Fund fund balance of $711,411 was down $232,173 from last year. Funds were transferred to capital funds to accommodate 1988 projects. The fund balance is planned to be restored in 1989 in the General Fund. The $5,591,398 balance in the Special Revenue Funds was up from the previous year by 12.9%. -13- 890572 Honorable Board of Commissioners - Continued: Enterprise Operations: The County's enterprise operation is comprised of the Ambulance Service. The ambulance service is a countywide advanced life support emergency medical service. The program is primarily supported by fees with a subsidy from the County indirect support costs only. The operation did over 5,500 calls in 1988 and generated revenue of $1,308,666. Pension Trust Fund Operations: The operations of the Weld County Retirement Program remained stable in 1988. The annual actuarial valuation continues to reflect a positive trend in the funding of the retirement plan an excess funding capacity in the amount of $2,165,087. Capital Project Funds: The Capital Expenditure Fund was established to account for all capital projects for general County use. At the end of each fiscal year, the completed project items are transferred to the General Fixed Asset account group. The County has developed a five year Capital Improvements Program outlining projected costs and probable sources of funding for various capital improvement projects. Major projects in that plan pending at the end of 1988 include the construction of a new Motor Vehicle Service Center, jail remodel, and other Weld County Business Park site development. General Fixed Assets: The General Fixed Assets of the County are the fixed assets used in the performance of general governmental functions and exclude the fixed assets of the Internal Service Funds. As of December 31, 1988, the General Fixed Assets of the County amounted to $25,199,689. This amount represents the original cost of the assets and is considerably more than their present value. Depreciation of General Fixed Assets is not recognized in the County's accounting system. Debt Administration: In 1988 the County continued to have no bonded indebtedness. With the passage of HB 1579 in 1981, Section 30-35-201, C.R.S. , 1973 now allows the debt ceiling to be 3% of the assessed valuation of the County. Thus, Weld County maintains over a thirty-three million dollar allowable debt capacity in accordance with Colorado State Statutes. There are lease/purchase agreements which involves two phone systems, payments under which will total $245,214, and Certificate of Participation Bond Issues for the construction of a library and classrooms in Southern Weld County, and the Human Resources Building totalling $2,117 ,000. 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 Insurance Fund, Health Insurance Fund, Antelope Hills Trust Fund, and the interest earned on certain deposits held for other taxing authorities. The amount of intefest. earned was $1,802,538 in 1988. -14- t 890572 Honorable Board of Commissioners - Continued: The County's investment policy is to minimize credit and market risks while maintaining a competitive yield on its portfolio. Accordingly, deposits were either insured by federal depository insurance or collateralized. All collateral on deposits was held either by the government, its agent or a financial institution's trust department in the government's name. All of investments held by the government during the year and at December 31, 1988, are classified in the category of lowest credit risk as defined by the Governmental Accounting Standards Board. Risk Management: During 1988 Weld County continued to be a member of Colorado Counties Casualty and Property Pool. In addition Weld County joined the County Workers' Compensation Pool in 1988 shifting from being self- insured to all insurance coverage being via pooling with other Colorado counties. The pools offer full safety and risk management programs to minimize losses . OTHER INFORMATION Independent Audit: The Weld County Home Rule Charter requires an annual audit of the books of accounts, financial records, and transactions of all administrative departments of the County by independent certified public accountants selected by the Board of County Commissioners, and engaged for a period not to exceed five years. The accounting firm of Deloitte Haskins and Sells, CPAs, was selected by the County. In addition to meeting the requirements set forth in the Charter, the audit also was designed to meet the requirements of the federal Single Audit Act of 1984 and related OMB Circular A-128. The auditor's report on the general purpose financial statements and combining and individual fund statements and schedules is included in the financial section of this report. The auditor's reports related specifically to the single audit are included in the Single Audit Section. Awards: 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, 1987. This was the seventh of eight years 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. 15- 880 72 Honorable Board of Commissioners - Continued: In addition, the county also received the GFOA's Award for Distinguished Budget Presentation for its 1988 annual appropriated budget dated October 29, 1987 for the fifth 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. ACKNOWLEDGEMENTS 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 1988 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, 1988. 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 should 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.feRectfully sgbmittdd, 1 i ^01//74 " / 7. Donald D. Warden, Director Finance and Administration DDW/ch • -16- 890572 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, 1987 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. Mme' Wt plFA ff�IFS eu N MONITION r President ios SEAL.11 /0","/COde Executive Director -17- 8906n r P U . C qqCC O an m 4 �. W .a4 w W IL E ag W in 4O we z In MO — `wOc < W — re la ro ,r at = a m N J o o,•I u N N ,°4 m V 4 . V 0Hdd F .+ wE a O .4 .4 N w CL Z U 4 •) O H W N U• I C M ° d O O u ro 0 m • 504 J m > f N ° 0 $ T H Co' O 4 a 4 Z Vis r• v y 4 co 'V U oto fn N 1.4 U d G C G Q L a 'C +roi > M I CC E ,� � J d G 40 W dN C a 0 0 a w r O V C O CIsl V U H U — W U o ag O H ~ O 70 G C N I C O 0 O a R ,N C - C G U 4J Co C d t V C M U U N G 6 O l" •C .d-1 O 6 J 0 CU Ca M 'O `w O .r1 Hi O O C W N N IS r1 O O'O W in V o 5 v w wr1 ¢ cn J 'OU m �. �. H 6 • o PG 4 m O W d V 4 c C° C 9 C •.d1 CO W Z N d� N kC C O � U1 C O 0 • a " CO •.+ ro 44 4 O in 49 H 0 o 4-4 wmw° a � c� a c o 4.4 W ›- `V 4 — 2 r d 00 H G C ro a TI •L 4 M 00 O 4 O M C PI "Cl O 0 •. C 4 O o w w /1 V H •C w o m \./ C W O u O Co ` N 4 r• d o J°. P0 G O v u ll El CI 6 • la U Z H C u Cia 0 �.o a Co m 'Co T ro 9 f 6 a a h H H V V O N gel !0 N O a O ro 4 4 m d 4 N O W O 0 N H 0 0 U • O U 00 u 0 A10. R r O O P +'1 440. C —mow •V O W a a w a 6 C '0 0 G 0 G u .i y AC +4 F Z VI i.1 y N r4 CO d ro N C G. C40 Q N W Q d Co • N N 6 fi b N r4 0 0 , .a o a s ❑ 0 ++ 0O x u - •.i 5 x = S U J J O C6H 2 — v U1 H 0 1 1 U ICI O mN W ,Z U H rai •.I I. d V ° b a 4 w • .-� 3 0 a O N C V C a Co Co C V U ,.,to d ro ro al Q 4 00 Cu C U 0 o Y'4 G0 wCo d 00 Vf0 w C B .C d 4 sl N T1 C'.4 U > 0 w 4 0 ag Q O f w Y N O Co M H 4 ''Cl .C Ca0 IS0 ..+-+ > a W CO 4 V .F-1 U 0 C V 4.4 d 1 x > Han c7 14 0 0 en C _ M U '4 4.4 a .444.'a �. 0 ,_34 .C.4“-.... 'P W .4 C0 41 4 0 ' O G ll >q VI C a. U d d • 4 ..1 J H 0 C 4 > .4 c 4 .4 M C wo.4- 4 W a i4 d o C " . .J d C C m •0 ¢ RI e 4-1 o ww - m ` ` 2 Nro t`o uowe .".1 .4 ¢ V in w ad. c I. ..4 c a w w u°. J Co PM W w O O V G. U w ca.>a°. • . . . . or — _ _ —18- COUNTY OF WELD STATE OF COLORADO PRINCIPAL COUNTY OFFICIALS December 31, 1988 Board of County Commissioners Gene Brantner Jacqueline Johnson C. W. Kirby Gordon E. Lacy Frank Yamaguchi County Treasurer Francis M. Loustalet County Clerk and Recorder Mary Ann Feuerstein County Assessor Dick Kiernes County Sheriff Ed Jordan County Coroner Paul Stoddard Director of Finance and Administration Donald D. Warden Comptroller Claud Hanes Independent Auditor Deloitte Haskins and Sells Certified Public Accountants �p� �y� 8705/2 -19- COLORADO FINANCIAL SECTION WI`Dc. COLORADO 8905'72 DeIctte Haskins+Sells 1560 Broadway, Suite 1800 One Civic Center Plaza Denver, Colorado 80202-5151 (303) 837-3000 ITT Telex: 4995604 INDEPENDENT AUDITORS' REPORT Board of County Commissioners County of Weld, Colorado Greeley, Colorado We have audited the general purpose financial statements of the County of Weld, Colorado as of December 31, 1988 and for the year then ended, listed in the foregoing table of contents. These financial statements are the responsibility of the County's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements present fairly, in all material respects, the financial position of the County of Weld, Colorado, at December 31, 1988, and the results of its operations and changes in financial position of its proprietary and similar trust fund types for the year then ended, in conformity with generally accepted accounting principles. As discussed in Note 2 to the Financial Statements, in 1988 the County implemented the provisions of Statement of Governmental Accounting Standard No. 6 regarding accounting and financial reporting for special assessments. Our audit also comprehended the combining individual fund and individual account group financial statements and schedules listed in the foregoing table of contents. In our opinion, such supplementary information, when considered in relation to the general purpose financial statements, presents fairly in all material respects the information shown therein. Our audit did not include the information presented in the statistical section and, accordingly, we express no opinion on it. DELOITTE HASKINS & SELLS ® � May 15, 1989 -21- 89 COLORADO GENERAL PURPOSE FINANCIAL STATEMENTS COLORADO J: 0572 COLORADO COUNTY OF WELD STATE OF COLORADO COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS December 31, 1988 Governmental Fund Types Special Capital General Revenue Projects ASSETS ASSETS: Cash and short term investments $ 1,098,943 8 5,334,556 $ 1,345,084 Cash - other 20,125 738,209 4,981 Investments 0 0 0 Receivables (net of allowance for uncollectibles): Current property tax 12,715,954 7,042,991 0 Delinquent property tax 156,670 90,961 6,343 Accounts 209,928 217,425 5,159 Special assessment 791,137 73,236 0 Due from other county funds 527,840 135,108 120,552 Due from other governmental units 252,323 1,272,925 166,554 Advances to other funds 80,000 75,000 0 Inventories 35,106 869,513 0 Amount to be provided 0 0 0 Prepaid and items 12,533 90,660 0 Land 0 0 0 Buildings 0 0 0 Improvements other than buildings 0 0 0 Machinery and equipment 0 0 0 Construction in progress 0 0 0 Accumulated depreciation 0 0 0 TOTAL ASSETS $ 15,900,559 $ 15 940,584 8 1 673 LIABILITIES AND FUND BALANCE LIABILITIES: Accounts payable $ 223,030 $ 404,187 $ 344,882 Accrued Liabilities 541,277 488,611 1,675 Due to other governments 250 0 0 Due to other county funds 377,467 568,048 140,862 Deferred revenue 13,692,315 7,346,504 6,343 Unexpended grant revenue 264,809 1,475,372 0 Other liabilities 0 66,464 0 Advance from other funds 75,000 0 0 Retainage payable 0 0 200,754 Notes payable 15,000 0 0 Bonds payable 0 0 0 General long term debt 0 0 0 Deferred compensation payable 0 0 0 Total Liabilities 15,189,148 10,349,186 694,516 FUND EQUITY: Contributed capital 0 0 0 Retained earnings 0 0 0 Investment in fixed assets 0 0 0 Fund Balance Reserved 181,366 2,047,234 884,157 Designated to future year's expenditures 0 1,560,309 70,000 Fund balance - undesignated 530,045 1,983,850 0 Total Fund Equity 711,411 5,591,398 954,157 TOTAL LIABILITIES AND FUND EQUITY $ 15,900,559 $ 15,940,584 $ 1,648,673 See Notes to Financial Statements _ .• -24- 890572 Fiduciary Proprietary Fund Type Fund Type Account Groups Memorandum Total Enterprise Internal Trust and General General December 31 December 31 Fund Service Agency Fixed Assets Long Term Debt 1988 1987 S 250,205 $ 1,730,471 $ 6,957,651 $ 0 $ 0 $ 16,716,910 $ 18,880,562 0 7,500 800,581 0 0 1,571,396 1,107,097 0 0 22,095,889 0 0 22,095,889 20,532,162 0 547,620 0 0 0 20,306,565 18,905,587 0 7,453 1,056 0 0 262,483 306,213 213,970 17,128 325,202 0 0 988,812 985,409 0 0 0 0 0 864,373 902,271 8,389 730,381 152,979 0 0 1,675,249 1,030,103 146 2,367 0 0 0 1,694,315 2,211,463 0 0 0 0 0 155,000 182,271 0 113,083 0 0 0 1,017,702 919,708 0 0 0 0 1,747,347 1,747,347 1,532,630 69 190,109 104,109 0 0 397,480 368,094 0 675,184 498,542 2,635,946 0 3,809,672 2,808,182 0 750,220 1,285,597 18,300,758 0 20,336,575 19,178,873 0 27,199 0 359,908 0 387,107 250,265 46,624 12,915,144 0 3,651,241 0 16,613,009 15,322,133 0 1,024,654 0 251,836 0 1,276,490 0 (14,728) (8,132,060) (15,850) 0 0 (8,162,638) (7,008,130) $ 5�4 675 S 10,606.453 $ 32,205,756 S 25,199,689 S 1,747,347 8101,753,737 S 98414,893 S 8,501 $ 166,503 $ 1,020,561 $ 0 $ 0 $ 2,167,664 $ 2,164,364 73,388 452,643 55,645 0 0 1,613,239 1,249,164 0 0 2,544,885 0 0 2,545,135 4,633,331 17,571 508,823 62,478 0 0 1,675,249 1,030,103 0 589,605 1,056 0 0 21,635,823 20,129,699 0 0 0 0 0 1,740,181 1,362,050 0 0 0 0 0 66,464 69,936 0 80,000 0 0 0 155,000 182,271 0 0 0 0 0 200,754 72,014 0 0 0 0 0 15,000 0 0 0 2,000,000 0 600,000 2,600,000 2,922,000 0 0 0 0 1,147,347 1,147,347 1,215,630 0 0 848,192 0 0 848,192 663,105 99,460 1,797,574 6,532,817 0 1,747,347 36,410,068 35,693,667 19,762 6,658,152 0 0 0 6,677,914 5,804,263 385,453 2,150,727 0 0 0 2,536,179 2,107,094 0 0 0 25,199,689 0 25,199,689 24,294,708 0 0 18,163,945 0 0 21,276,708 21,885,449 0 0 0 0 0 1,630,309 2,547,292 1 0 7,508,994 0 0 10,022,891 6,082,420 405,215 8,808,879 25,672,939 25,199,689 0 67,343,689 62,721,226 $ 504,675 $ 10.606.453 S 32,205.756 $ 25,199,689 $ 1.747.347 $103.753.737 $ 98,414,893 -25- 8 572 COUNTY OF WELD STATE OF COLORADO COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS December 31, 1988 Governmental Fund Types Special Capital Special General Revenue Projects Assessment REVENUES: . Taxes $ 11,196,489 $ 7,854,151 $ 564,699 S 0 Licenses and permits 350,734 225,010 0 0 Intergovernmental 1,192,993 25,526,876 640,000 0 Fines and forfeitures 35,469 0 0 0 Fee accounts 1,693,026 0 0 0 Earnings on investments 1,470,996 0 33,572 0 Contributions 0 31 0 0 Charges for services 721,422 910,807 0 0 Miscellaneous 1,846,186 242,945 498,542 0 Total Revenues 18,507,315 34,759,820 1,736,813 0 EXPENDITURES: General government 7,251,985 0 0 0 Public safety 7,869,950 0 0 0 Public works 533,198 7,758,816 0 0 Public health and welfare 151,158 20,005,561 0 0 Miscellaneous 307,941 134,755 0 0 Culture and recreation 91,331 144,046 0 0 Economic assistance 0 6,026,464 0 0 Capital outlay 209,281 192,120 3,338,904 0 Debt service 242,953 0 0 0 Intergovernmental 0 720,201 0 0 Total Expenditures 16,657,797 34,981,963 3,338,904 0 EXCESS REVENUES OVER (UNDER) EXPENDITURES 1,849,518 (222,143) (1,602,091) 0 OTHER FINANCING SOURCES (USES): Operating transfers - in 0 1,925,405 1,170,545 0 Operating transfers - out (2,081,691) (1,064,260) 0 0 Total Other Financing Sources (Uses) (2,081,691) 861,145 1,170,545 0 EXCESS REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES (232,173) 639,002 (431,546) 0 Equity transfers to other funds 0 0 0 0 FUND BALANCE AT BEGINNING OF YEAR AS PREVIOUSLY REPORTED 1,013,680 4,952,396 1,385,703 (670,096) RESTATEMENT FOR ELIMINATION OF SPECIAL ASSESSMENT FUNDS (70,096) 0 0 670,096 FUND BALANCE AT BEGINNING OF YEAR AS RESTATED 943,584 4,952,396 1,385,703 0 FUND BALANCE AT END OF YEAR $ 711. . 411 $ 5591,398 $ 954,157 $ 0 See Notes to Financial Statements -26- 89°572 p9°5 2p��rr..yy�� Fiduciary Fund Types Memorandum Total Expendable December 31 December 31 Trust 1988 1987 $ (1,160) $ 19,614,179 $ 18,846,835 0 575,744 613,026 0 27,359,869 20,789,309 0 35,469 76,465 0 1,693,026 1,711,894 236,048 1,740,616 1,409,175 0 31 0 0 1,632,229 1,149,717 1,223,913 3,811,586 4,506,693 1,458,801 56,462,749 49,103,114 0 7,251,985 6,819,165 0 7,869,950 6,924,599 269 8,292,283 9,876,346 0 20,156,719 14,789,034 1,808,573 2,251,269 3,550,550 0 235,377 244,171 0 6,026,464 4,491,346 0 3,740,305 1,637,272 0 242,953 200,263 0 720,201 594,982 1,808,842 56,787,506 49,127,728 (350,041) (324,757) (24,614) 0 $ 3,095,950 $ 2,239,636 0 (3,145,951) (2,449,674) 0 (50,001) (210,038) (350,041) (374,758) (234,652) 0 0 (128,780) 3,504,453 10,186,136 10,549,568 0 600,000 0 3,504,453 10,786,136 10,186,136 $ 3,154,412 $ 10 411,368 $10,186,136 —27— . 890572 COUNTY OF WELD STATE OF COLORADO COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES December 31, 1988 General Special Revenue Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) REVENUES: Taxes $ 11,331,525 $ 11,196,489 $ (135,036) $ 7,846,216 $ 7,854,151 $ 7,935 Licenses and permits 381,325 350,734 (30,591) 206,250 225,010 18,760 Intergovernmental 1,290,808 1,192,993 (97,815) 23,607,120 25,526,876 1,919,756 Fines and forfeitures 32,690 35,469 2,779 0 0 0 Miscellaneous 1,503,334 1,846,186 342,852 42,742 242,945 200,203 Fee accounts 1,812,589 1,693,026 (119,563) 0 0 0 Earnings on investments 1,396,603 1,470,996 74,393 0 0 0 Contributions 0 0 0 0 31 31 Charges for services 607,265 721,422 114,157 482,410 910,807 428,397 Total Revenues 18,356,139 18,507,315 151,176 32,184,738 34,759,820 2,575,082 EXPENDITURES: General government 7,483,498 7,251,985 231,513 0 0 0 Public safety 8,021,751 7,869,950 151,801 0 0 0 Public works 552,397 533,198 19,199 11,150,680 7,758,816 3,391,864 Public health and welfare 164,536 151,158 13,378 16,119,320 20,005,561 (3,886,241) Miscellaneous 377,232 307,941 69,291 1,481,196 134,755 1,346,441 Culture and recreation 46,959 91,331 (44,372) 162,736 144,046 18,690 Economic assistance 0 0 0 5,858,100 6,026,464 (168,364) Capital outlay 279,889 209,281 70,608 264,355 192,120 72,235 Debt service 239,843 242,953 (3,110) 0 0 0 Intergovernmental 0 0 0 742,386 720,201 22,185 Total Expenditures 17,166,105 16,657,797 508,308 35,778,773 34,981,963 796,810 EXCESS REVENUES OVER (UNDER) EXPENDITURES 1,190,034 1,849,518 659,484 (3,594,035) (222,143) 3,371,892 OTHER FINANCING SOURCES: Operating transfers - in 72,133 0 (72,133) 902,435 1,925,405 1,022,970 Operating transfers - out (2,022,435) (2,081,691) (59,256) (100,000) (1,064,260) (964,260) Bond Proceeds 0 0 0 0 0 0 Total Other Financing Sources (1,950,302) (2,081,691) (131,389) 802,435 861,145 58,710 EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES (760,268) (232,173) 528,095 (2,791,600) 639,002 3,430,602 FUND BALANCE AT BEGINNING OF YEAR 943,584 943,584 0 4,952,396 4,952,396 0 FUND BALANCE AT END OF YEAR $ (183,316) $ 711,411 $ 528 095 $ 2,160,796 8 5,591.398 $ 3,430,602 See Notes to Financial Statements —28— 890572 Capital Projects Memorandum Totals Variance Variance Estimate/ Favorable Favorable Budget Actual (Unfavorable) Budget Actual (unfavorable) $ 570,640 $ 564,699 $ (5,941) $ 19,748,381 $ 19,615,339 $ (133,042) 0 0 0 587,575 575,744 (11,831) 640,000 640,000 0 25,537,928 27,359,869 1,821,941 0 0 0 32,690 35,469 2,779 0 498,542 498,542 1,546,076 2,587,673 1,041,597 0 0 0 1,812,589 1,693,026 (119,563) 24,000 33,572 9,572 1,420,603 1,504,568 83,965 0 0 0 0 31 31 0 0 0 1,979,675 1,632,229 542,554 1,234,640 1,736.813 502,173 51,775,517 55,003,948 3,228.431 0 0 0 7,483,498 7,251,985 231,513 0 0 0 8,021,751 7,869,950 151,801 0 0 0 11,703,077 8,292,014 3,411,063 0 0 0 16,283,856 20,156,719 (3,872,863) 0 0 0 1,858,428 442,696 1,415,732 0 0 0 209,695 235,377 (25,682) 0 0 0 5,858,100 6,026,464 (168,364) 5,590,025 3,338,904 2,251,121 6,134,269 3,740,305 2,393,964 0 0 0 239,843 242,953 (3,110) 0 0 0 742,386 720,201 22,185 5,590,025 3,338,904 2,251,121 54,534,903 54,978,664 3,556,239 (4,355,385) (1,602,091) 2,753,294 (6,759,386) 25,284 6,784,670 1,150,000 1,170,545 20,545 2,124,568 3,095,950 971,382 0 0 0 (2,122,435) (3,145,951) (1,023,516) 1,800,000 0 (1,800,000) 1,800,000 0 (1,800,000) 2,950,000 1,170,545 (1,779,455) 1,802.133 (50,001) (1,852,134) (1,405,385) (431,546) 973,839 (4,957,253) (24,717) 4,932,536 1,385,703 1,385,703 0 7,281,683 7,281,683 0 S 19.682 L.- 21.1‘.1..2.7. $ 973.839 L(2.244).) 8 7,256.966 $ 4.932,036 -29- Q9)572 . COUNTY OF WELD STATE OF COLORADO COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS FUND BALANCES, ALL PROPRIETARY FUND TYPES, PENSION TRUST AND NONEXPENDABLE TRUST FUNDS December 31, 1988 Proprietary Fund Type Fiduciary Fund Type Memorandum Total NonExpendable Enterprise Internal Pension Trust December 31 December 31 Fund Service Trust Fund 1988 1987 OPERATING REVENUES: Appreciation-depreciation on fair market value S 0 $ 0 $ 289,809 S 0 $ 289,809 $ (2,369,532) Contributions 0 0 1,738,809 0 1,738,809 1,675,355 Charges for services 1,308,666 5,352,243 0 97,738 6,758,647 6,280,466 Total Operating Revenues 1,308,666 5,352,243 2,028,618 97,738 8,787,265 5,586,289 OPERATING EXPENSES: Personnel services 8 677,905 $ 1,292,199 S 0 $ 0 $ 1,970,104 $ 2,025,707 Contractual services 37,476 1,652,654 0 0 1,690,130 1,665,851 Supplies 45,765 367,141 0 0 412,906 440,910 Heat, light, and power 6,574 240,731 0 0 247,305 236,830 Repair and maintenance 89,291 244,451 0 0 333,742 332,103 Insurance and bonds 0 319,712 0 0 319,712 493,669 Claims 0 276,720 0 0 276,720 285,647 Other 411,933 33,177 0 0 445,110 324,185 Benefit payments 0 0 756,332 0 756,332 602,568 Refunds 0 0 356,800 0 356,800 230,810 Depreciation 8,750 1,458,193 0 15,850 1,482,793 1,280,778 Administrative 0 0 174,261 0 174,261 108,459 Debt Service 0 0 0 80,743 80,743 0 Total Operating Expenses 1,277,694 5,884,978 1,287,393 96,593 8,546,658 8,027,517 OPERATING INCOME (LOSS) 30,972 (532,735) 741,225 1,145 240.607 (2,441,228) NONOPERATING REVENUE (EXPENSES): Taxes $ 0 $ 542,286 $ 0 $ 0 $ 542,286 $ 548,693 Miscellaneous 95,730 0 0 0 95,730 2,820 Farm income 0 603 0 0 603 1,803 Gain on sale of assets 0 113,862 0 0 113,862 89,807 Earnings on investments 0 22,167 1,407,371 39,755 1,469,293 1,866,359 Interest expense 0 (47,465) 0 0 (47,465) (17,303) Judgments and damages 0 153,668 0 0 153,668 60,228 Operating Transfers 0 50,000 0 0 50.000 (210,038) Total Non-Operating Revenue (Expenses) 95,730 835,121 1,407,371 39,755 2,377,977 2,762,445 NET INCOME 126,702 302,386 2,148,596 40,900 2,618,584 321,217 Equity transfers from Other Funds 0 0 0 0 0 128,780 RETAINED EARNINGS/FUND BALANCE AT BEGINNING OF YEAR 258,750 1,848,341 20,329,031 0 22,436,122 21,986,129 RETAINED EARNINGS/FUND BALANCE AT END OF YEAR $ 385,452 $ 2.150,727 $ 22,477.627 $ 4900 $ 25,0544 706 $ 22.436,126 See Notes to Financial Statements -30- 894:5 72 COUNTY OF WELD STATE OF COLORADO COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION - ALL PROPRIETARY FUND TYPES, PENSION TRUST AND NONEXPENDABLE TRUST FUNDS December 31, 1988 Proprietary Fund Type Fiduciary Fund Type Memorandum Total NonExpendable Enterprise Internal Pension Trust December 31 December 31 Fund Service Trust Fund 1988 1987 WORKING CAPITAL PROVIDED: Net Income (loss) $ 126,702 S 302,386 $ 2,148,596 $ 40,900 $ 2,618,584 $ 321,217 Items which did not require outlay of working capital: Depreciation 8,750 1,458,193 0 15,850 1,482,793 1,280,326 (Gain) on sale of fixed assets 0 (112,538) 0 0 (112,538) 27,027 Working capital provided by operations 135,452 1,648,041 2,148,596 56,750 3,988,839 1,628,570 Proceeds from issuance of certificates of participation net of issuance costs 0 0 0 1,720,000 1,720,000 317,000 Contributions from other funds 0 873,651 0 0 873,651 91,368 Residual equity transfers 0 0 0 0 0 128,780 Proceeds from sale of assets 0 137,279 0 0 137,279 57,441 Total Working Capital Provided 135,452 2,658.971 2,148,596 1,776,750 6,719,769 2,223,159 WORKING CAPITAL APPLIED: Acquisition of fixed assets 15,406 2,511,901 0 1,467,139 3,994,446 1,685,621 Payments on debt 0 0 0 72,000 72,000 0 Total Working Capital Applied 15,406 2,511,901 0 1,539,139 4,066,446 1,685,621 INCREASE IN WORKING CAPITAL 1:-.S, S 147,070 $ 2,148,596 $ 237.611 $ 2,653,323 L.....1 CHANGES IN COMPONENTS OF WORKING CAPITAL: Increase (decrease) in current assets: Cash and short term investments $ 182,301 $ 273,409 $ 4,387 $ 343,211 $ 803,308 $ 95,424 Cash - Other 0 0 673,186 0 673,186 120,399 Investments 0 0 1,378,640 0 1,378,640 64,288 Receivables: Accounts 5,257 (38,111) 71,849 0 38,995 200,393 Delinquent property taxes 0 35,024 0 0 35,024 (3,451) Due from other county funds (82,026) 137,187 0 140,856 196,017 292,648 Due from other grants 146 0 0 0 146 0 Inventories 0 (34,508) 0 0 (34,508) (28,318) Prepaid and other assets 69 (13,196) 10,339 0 (2,788) 22,571 NET INCREASE (DECREASE) IN CURRENT ASSETS 105,749 359,805 2,138,401 484.067 3,088,020 763,854 (Increase) decrease in current liabilities: Accounts payable (1,502) 611,521 9,554 (185,816) 433,757 (143,274) Accrued liabilities (6,532) (292,349) 0 0 (298,881) (57,359) Due to other county funds 22,333 (492,332) 641 (60,640) (529,998) (19,253) Deferred revenue 0 (39,575) 0 0 (39,575) (6,530) NET (INCREASE) DECREASE IN CURRENT LIABILITIES 14,299 (212,735) 10,195 (246,456) (434,697) (226,416) INCREASE IN WORKING CAPITAL $ 120 046 $ 147 070 $ 2 148 596 $ 237 611 $ 2 653 323 $ 537538 See Notes to Financial Statements 31- X572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Note 1 - Summary of Significant Accounting Policies: The County of Weld ("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 Weld County, Colorado have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental units as set forth by the Governmental Accounting Standards Board. The following summary of significant accounting policies is presented to assist the reader in evaluating the County's financial statements. A. Reporting Entity The financial statements of Weld County include those of separately administered organizations that are controlled by or dependent on the County. Control or dependence is determined on the basis of budget adoption, taxing authority, funding, scope of public service, ability to influence operation, designation of management, and appointment of the respective governing board. Based upon the foregoing criteria, the financial statements of the following organizations are included in the accompanying financial statements: Weld County Housing Authority -- The Board of County Commissioners appoints the five member board. The majority of funding provided is from state and federal housing grants of which the County is the primary recipient and sponsor. The operation is reported in the Housing Authority Fund, a Special Revenue Fund. ♦ Weld County Public Health Board -- The Board of County Commissioners appoints the seven member board and the Director of Public Health. Substantial funding is provided by the County for the operation of the Public Health Department. The . Public Health Department's operations are reported in the Health Fund, a Special Revenue Fund. -32- g9®572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Weld County Retirement Board -- The Retirement Board consists of five members, four appointed by the Board of County Commissioners and the fifth being the elected County Treasurer. The County funds half of the retirement program 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 and others. The Board of County Commissioners appoints the three member Board of Directors of the Corporation, and approve all projects undertaken by the Corporation. The members of the Board of Directors are employees of the County. The operations of the Corporation are reported as a non-expendable trust fund. The following organizations are not part of Weld County and are excluded from the accompanying financial statements: North Colorado Medical Center -- The Board of County Commissioners appoints a seven member Hospital Board of Trustees that in turn appoints five of the eleven Normedco Board of Directors. Normedco being a holding company of which the North Colorado Medical Center (NCMC) is a non-profit subsidiary operating the hospital. The County commits minimal capital funds annually (less than 1% of the total NCMC revenues for 1988) . The NCMC has the ability to incur its own debt and its operations are financed totally by patient revenues. Greeley-Weld Airport Authority -- The County Commissioners appoint two of the five Airport Authority Board members. The County has contributed approximately 5% of the funds for capital construction. The Authority has full autonomy under Colorado State law, can incur debt, and funds its 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. -33- 5905w2 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 B. Basis of Presentation: Each fund is an independent fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources together with all related liabilities, residual equities and balances which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations. In addition to the funds , self- balancing account groups are established to account for the general fixed assets and general long-term debt of the County. The various funds are grouped into six generic fund types under three broad fund categories as follows: Governmental Fund Types: All governmental funds and expendable trust funds are accounted for using a current financial resources measurement focus. Under this measurement focus, only current assets and current liabilities are generally included in the balance sheets. The reported fund balance (net current assets) is considered a measure of "available spendable resources" . Governmental fund operating statements present increases (revenue and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, these funds are said to present a summary of sources and uses of "available spendable resources" during a period. General Fund: The General Fund accounts for all financial transactions of the County that are not properly accounted for in other funds. Ordinary operations of the County such as public safety, County administration and other activities financed from taxes and general revenue are reflected in this fund. Special Revenue Funds: Special Revenue Funds are established to account for taxes or other earmarked revenue of the County which finance specified activities as required by law or administrative action. Capital Projects Funds: Capital Projects Funds are established to account for financial resources used for the acquisition or improvement of the capital facilities of the County. ��yrr�� -34- 5OJ 2 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Proprietary Fund Types: All proprietary funds, non-expendable trust funds and pension trust funds are accounted for on a flow of economic resources measurement focus. This means that all assets and all liabilities (whether current or non- current) .associated with the fund's activity are included on the balance sheet. Fund equity (net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund type operating statements present increases (revenue) and decreases (expenses) in net total assets. Enterprise Funds: Enterprise Funds are used to account for operations where the intent of the County is that the costs or services to the general public on a continuing basis be financed or recovered primarily through user charges. Internal Service Funds: Internal Service Funds are established to account for goods and services provided to other departments of the County on a cost-reimbursement basis. Fiduciary Fund Types: Trust and Agency Funds: Trust and Agency Funds are established to record transactions relating to assets held by the County in the capacity of trustee, custodian or agent for individuals, governmental entities and non-public organizations. These include expendable trust, non- expendable trust, pension trust and agency funds. Account Groups: General Fixed Assets Fixed assets used in governmental fund type operations are accounted for in the General Fixed Assets Account Group. General Long Term Debt: The general long-term debt account group is used to account for all long term indebtedness not accounted for in the proprietary fund types. -35- 890572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 C. Basis of Accounting: The governmental funds, expendable trust funds, and agency funds utilize the modified accrual basis of accounting. Under this method revenues are recognized when measurable and available. "Measurable" means the amount of the transaction can be determined and "Available" means collectible within the current period or soon enough thereafter to pay liabilities in the current period. Primary revenues susceptible to accrual are taxes, grant revenues and investment earnings. Property tax is reported as deferred revenue (less estimated uncollectible amounts) in the year the levy is certified and as a revenue when available to finance the County's current operations. Other taxes are also reported as revenue when available. Grant revenue is recognized as qualifying expenditures are incurred, and investment earnings are accrued over the life of the investment. Expenditures are generally recognized when the related fund liability is incurred except for long-term liabilities such as accrued vacation and sick leave which is recorded when payable from current available financial resources. Proprietary funds and pension trust funds follow the accrual basis of accounting whereby revenue is recognized when earned and expenses are recorded when liabilities are incurred. Agency funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Encumbrances: Weld County utilizes the encumbrance method of recording commitments related to unperformed contracts for goods and services or portions thereof not yet received. Under this method, encumbrances for purchase orders, contracts, and other commitments outstanding at year end are recorded as a reservation of fund balance and do not constitute expenditures or liabilities. Because the commitments will be honored during the subsequent year a reappropriation is made in the subsequent year to provide authority to complete the transaction. -36- 890S72 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Budget: 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 for all governmental funds. Budgets are established for all Governmental and Internal Service Fund types, the Weld County Retirement Fund, and the Health Insurance Trust Fund. The accounting system is employed as a budgetary management control device during the year to monitor the individual departments (level of classification at which expenditures may not legally exceed appropriations) . 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 each department must be approved by the County Commissioners through a supplemental appropriation ordinance. During 1988, two supplemental appropriation ordinances were enacted, which brought the total budget from the original appropriation of $49,022,089 to $58,695,653. Budget amounts reported in the accompanying financial statements reflect these supplemental appropriations. Property Taxes: Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied no later than November 15 and are payable in the following year in two installments on March 1 and August 1, or in full on April 30. The County, through the Weld County Treasurer, bills and collects its own property taxes as well as property taxes for all school districts, cities and towns and special districts located 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 per cent (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 the County is in need of additional funds, the 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. -37- 890572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 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. The original January 1, 1988 levies for the applicable funds of the County are as follows: Levy Mills Amount General Fund 10.066 $ 11,247,635 Road & Bridge 2.962 3,309,743 Social Services Fund 2.121 2,370,535 Contingent Fund .837 934,579 Capital Expenditures Fund .476 532,000 IGS - Insurance .457 511,095 TOTAL 16.919 18,905,587 Investments: Investments are stated at cost or amortized cost subject to adjustment for market declines judged to be other than temporary, except investments of the deferred compensation fund which are stated at market value. Inventories: Inventories of governmental funds, which consist of expendable materials held for consumption, are stated at the lower of cost, determined by the first-in, first-out method or market. 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 the lower of average cost or market. Short term Interfund Receivables/Payables: Interfund transactions resulting from reimbursements, operating transfers, and charges for services rendered, are recorded as due to or due from other County funds. • 38 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Advance to Other Funds: Noncurrent portions of long-term interfund loans receivable (reported in "Advance" asset accounts) are equally offset by a fund balance reserve account which indicates that they do not constitute "available spendable resources" since they are not a component of net current assets. Interfund Transactions: Quasi-external transactions are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. All other interfund transactions, except quasi-external transactions and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. Fixed Assets: Acquisitions of general fixed assets are recorded as capital outlay expenditures within the governmental funds. Public domain ("infrastructure") general fixed assets consisting of roads, bridges and rights-of-way are not capitalized. No depreciation has been provided on general fixed assets. All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value on the date donated. Depreciation of all exhaustible fixed assets used by Internal Service Funds and Enterprise Funds is charged as an expense against the operations. Accumulated depreciation is reported on the related balance sheets. Depreciation has been provided using the straight line method over the estimated useful lives, as follows: Buildings 20-30 years Land Improvements 20 years Equipment and furniture 3-10 years -39- 0572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Sick-leave, Vacation Pay and Comp Time: Accrued vacation, sick pay and comp time for the governmental funds are accounted for in the General Long-Term Debt Account Group. Sick-leave is earned when vested and recorded as an expenditure in the applicable fund when paid. In the event of retirement or termination, 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. At December 31, 1988, the liability for accumulated sick-leave approximated $531,696. Unused vacation time is forfeited after 24 months from date earned. Upon termination or retirement, employees are paid for their accrued vacation. At December 31, 1988, the liability for accumulated vacation approximated $424,185. Vacation is recorded as an expenditure in the applicable fund when paid. Vacation and sick-leave are accrued in the Proprietary Fund Types when earned. Comp time is recorded as an expenditure when paid. At December 31, 1988, the liability for accumulated comp time was $64,353. Long-term Obligations: Long-term debt is recognized as a liability of a governmental fund when due. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the general long-term debt account group. Long-term liabilities expected to be financed from proprietary fund operations are accounted for in those funds. Fund Equity: Contributed capital is recorded in proprietary funds that have received capital grants or contributions from developers, customers or other funds. Reserves represent those portions of fund equity not appropriable for expenditure or legally segregated for a specific future use. Designated fund balances represent tentative plans for future use of financial resources. -40- 890572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Reserves for the County of Weld consist of: Reserve for Encumbrances: These reserves are established to record purchase orders and commitments outstanding for which the related goods/services have not been received at year end. Reserve for Prepaid Items: These reserves are established to record all prepaid items. Reserve for Inventories: These reserves are established to record the total level of inventories. Reserve for Employee Benefits: These reserves are established to record the Pension Benefit obligation of the Weld County Retirement Plan. Reserve for Advances - to Internal Service Funds: These reserves were established to record a temporary loan of cash flow for a supply inventory. Designated Fund Balance: Fund balance designated for subsequent year's expenditures represents fund balance commitments for appropriated expenditures in excess of anticipated revenue for the year ending December 31, 1989. Non-federal In-kind Contributions: Volunteers assist the various programs of the Human Resources Fund (a special revenue fund) in providing transportation and various other program functions. The volunteer labor is recognized as a contributed revenue at $3.35 per hour. Certain volunteer labor is recorded at higher rates based upon the individual's professional experience. Volunteer mileage is recorded at 20C per mile. Donated food, clothing, and other goods are recognized as contributed revenue at fair market value. An offsetting in-kind expenditure is also recorded for the value of the donated goods and services . -41 • - 800772 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Memorandum Only - Total Columns: Total columns on the General Purpose Financial Statements are captioned Memorandum Total to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Comparative Data: Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the government's financial position and operations. However, comparative data have not been presented in all statements because their inclusion would make certain statements unduly complex and difficult to understand. Note 2 - Change in Accounting for Special Assessments: In 1988, Weld County implemented the provisions of Statement No. 6 of the Governmental Accounting Standards Board, Accounting and Financial Reporting for Special Assessments. Prior to 1988, special assessment (improvement) projects and related debt were accounted for in Special Assessment Funds as a separate fund type. Statement No. 6 eliminates the use of Special Assessment fund types and provides that activities related to such projects are to be accounted for using the accounting principles of the Fund Type that incurred the original expenditure. The change in accounting for special assessments has been applied retroactively in the accompanying financial statements. The effect of this change was to eliminate the special assessment fund type which decreased the January 1, 1988, fund balance in the General Fund by $70,096, and to transfer the special assessment bonds outstanding of $600,000 at January 1, 1988, to the General Long- Term Debt account Group. As a result of this change in accounting principles, individual fund balances for 1987 were restated as follows: -42 890572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 As previously As Restated Fund Reported Reported Special Assessment Funds: Elmore Road $ 773 $ -0- Road 5 (652,771) -0- Antelope Hills (11,748) -0- Indianhead Improvement District (6,350) -0- Total Special Assessment $ (670,096) $ -0- General Fund $1,013,680 $ 943.584 Note 3 - Equity in Pooled Cash and Investments, Cash, and Investments: The County maintains a cash and investment pool that is available for use by all funds. Each fund's share is displayed on the balance sheets as "Cash and Investments" . Several of the County's funds also hold investments on their own account. Substantially all cash and investments of the Pension Trust Fund are held separately from those of the other County funds. Deposits: At year-end, the carrying amount of the County's deposits was $13,739,557. Of this amount, $1,500,000 was covered by Federal deposit insurance and the remainder was collateralized with securities held by the pledging financial institutions' trust departments or agents in the County's name. An amount representing food stamps held at December 31, 1988 of $712,184 is not included in the above amount. Investments: Statutes authorize the County to invest in obligations of the U.S. Treasury, agencies, and instrumentalities, commercial paper, and repurchase agreements. Repurchase agreements were held during 1988, but the County did not hold any such investments at December 31, 1988. The Pension Trust Fund is. also authorized to invest in corporate bonds and mortgages. -43- 890572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 The County's investments are categorized to give an indication of the level of risk assumed at year-end. Category 1 includes the 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 2 includes uninsured and unregistered investments for which the securities are held by the County's agent in the County's name. Category 3 includes uninsured and unregistered investments, with securities held by a Counterparty and not in the County's name. Investments of all funds as of December 31, 1988, except the Deferred Compensation fund, were as follows: Category Category Category Carry Market 1 2 3 Amount Value Corporate Bonds $ 9,677,015 $ 9,677,015 $ 9,677,015 Trust Fund 2,052,511 2,052,511 2,052,511 Mortgages $217,569 217,569 217,569 Treasury Obligations 3,150,734 $924,841 4,075,575 4,014,628 Common Stock 8,202,380 8,202,380 8,202,380 Total $23.082,640 8217.569 $924.841 $24.225,050 $24,164,103 The Pension Trust Fund owns approximately 91% of the investments in Category 1, 100% of the investments in Category 2, and 0% in Category 3. Investments of the Deferred Compensation fund at December 31, 1988 totaled $848,192 which approximated market value. Investments of this fund were registered in the name of the County. Note 4 - Allowance for Uncollectible Accounts Receivable: The allowance for uncollectible receivables consists of the following at December 31, 1988: Allowance For Fund Uncollectibles General $ 66,875 Special Revenue 37,464 Capital Projects 1,586 • Internal Service 3,283 Trust & Agency 1,356 Enterprise 227,684 TOTAL $ 338,248 -44- COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Note 5 - Individual Fund Interfund Receivable and Payable Balances and Advances: Interfund receivable and payable balances at December 31, 1988 are as follows: Interfund Interfund Receivables Payables General Fund $ 527,840 $ 377,467 Special Revenue Funds: Road and Bridge Fund 52,926 368,753 Social Services Fund 21,788 30,144 Contingency Fund 0 100,000 Public Health Fund 3,902 12,652 Human Resources Fund 56,488 54,801 Housing Authority Fund 4 1,698 Capital Projects Fund 120,552 140,862 Enterprise Fund: Ambulance 8,389 17,571 Internal Service Funds: Motor Vehicle Fund 419,200 1,552 Printing and Supply Fund 43,866 1,998 Computer Services Fund 230,590 501,653 Insurance Fund 5,744 614 PBX Fund 30,981 3,006 Trust and Agency Funds: Employee Flexible Spending 10,856 0 Payroll Agency Fund 786 581 Retirement Fund 0 500 Health Insurance Fund 0 71 Weld Finance Corp. 140,856 60,640 Emergency Telephone 481 0 General Agency 0 686 TOTAL $1,675,249 $1, 675, 249 -45- 890572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Advances from and to other funds at December 31, 1988 are as follows: Advance Advance From To General Fund $ 75,000 $ 80,000 Special Revenue Funds: Solid Waste Fund 0 75,000 Internal Service Funds: Printing & Supply Fund 80,000 0 Total $155,000 $155,000 Note 6 - General Fixed Assets: A summary of changes in general fixed assets follows: Balance Balance 1/1/88 Additions Deletions 12/31/88 Land $ 2,095,212 $ 540,734 $ 0 $ 2,635,946 Improvements other than buildings 230,920 128,988 0 359,908 Buildings 18,111,653 194,740 5,635 18,300,758 Machinery and equipment 3,539,923 870,555 759,237 3,651,241 Construction-in- Progress 0 251.836 0 251.836 Total $23.977,708 $1,986.853 $ 764.872 $25,199,689 Note 7 - Long Term Debt: Long-Term debt outstanding and related interest requirements as of December 31, 1988 are detailed as follows: Principal Requirement Interest Requirement Certificates Certificates Total Annual of Par- Special Total of Par- Special Total Debt Service Year ticipation Assessment Principal ticipation Assessment Interest Requirement 1989 $ 210,000 $ 100,000 $ 310,000 $ 137,243 $ 54,625 $ 191,868 $ 501,979 1990 220,000 100,000 320,000 125,265 45,250 170,515 490,515 1991 240,000 100,000 340,000 111,665 35,625 147,290 487,290 1992 160,000 100,000 260,000 96,215 25,750 121,965 381,965 1993 170,000 100,000 270,000 85,815 15,625 101,440 371,440 1994 180,000 100,000 280,000 74,350 5,250 79,590 359,590 1995 195,000 195,000 61,920 61,920 256,920 1996 210,000 210,000 48,270 48,270 258;270 1997 220,000 220,000 33,360 33,360 253,3'60 1998 240,000 240,000 17.520 17.520 257.520 TOTAL $2 045 000 $ 600 000 $2 645 000 $ 791 613 $ 182 125 $ 973 738 $3 618 738 -46- 89os? COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 The following is a summary of the long-term debt transactions of the County for the year ended December 31, 1988: Certificate Phone Vacation of Special Lease 8 Sick Participation Assessment Obligation Leave Total January 1, 1988 $ 317,000 8 700,000 8 160,333 $1,055,293 82,232,626 Issued 1988 1,755,000 0 0 0 1,755,000 Retired 1988 (72.000) (100.000) (33.220) (35.059) (240,279) December 31, 1988 82.000.000 8 600.000 8 127.113 81,02234 83,747 347 On December 1, 1987, the Weld County Finance Corporation issued certificates of participation for $317,000. Principal payments are due on December 1 each year. The maturities of this issue, included in the amounts shown above, are $75,000 for 1989 , $80,000 for 1990, and $90,000 for 1991. The balance of the certificates of participation is attributable to the 1988 issue. The certificates bear interest at rates varying between 5.75% and 6.75% over the term of the certificates. Proceeds from the certificates were used to fund construction of a building in Frederick, Colorado leased to the County for use by the Headstart program and to the Weld County Library District, a governmental entity which is not a component unit of the County. On July 14, 1988, the Corporation issued certificates of participation having a face value of $1,800,000 for $1,755,000. Principal payments are due on July 1 each year in the amounts shown • above. The certificates bear interest at rates varying between 5.4% and 7.3% per annum over the term of the certificates. Proceeds from the certificates were used to fund construction of a building leased to the County for use by the Human Resources Department. Annual lease payments equal the total annual debt service payments for the Certificates. Obligations under the Certificates are not general obligations of the County. Sick leave and vacation accruals and capital leases for Governmental Fund types are recorded in the General Long-term Debt account group. Weld County has no general bonded indebtedness. In accordance with Section 30-35-201, CRS, 1973, the limit of Weld County's general bonded indebtedness is 3% of the assessed valuation or $31,881,113 as of December 31, 1988. 47- Sn COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 At December 31, 1988, there are $600,000 of special assessment bonds payable. The bonds were issued to pay for road construction and are to be repaid through collection of an assessment of the property owners. The bonds bear interest between 8.5% - 10.5% per annum and mature as shown above. These bonds do not represent general obligations of the County. The County pays bond principal and interest installments one year in advance of reimbursement of such amounts from property owners. Note 8 - Capital Lease Obligation: The County leases two telephone systems under agreements accounted for as capital leases. The following is a schedule of the future minimum telephone lease payments with the present value of the net minimum lease payments as of December 31, 1988. Human Social Year Ending December 31, Resources Services Total 1989 17,802 29,645 47,447 1990 16,318 29,645 45,963 1991 0 29,648 29,648 1992 0 27,262 27,262 Total minimum lease payments 34,120 116,200 150,320 Less: Amount representing interest (3.080) (20,127) (23,207) Present value of net minimum lease payments $ 31,040 $ 96_073 8127,113 Note 9 - Tax Anticipation Notes: In 1988 Weld County issued tax anticipation notes, Series 1988, in the amount of $3,200,000 and bearing interest at 7.5% per annum. Weld County was authorized in accordance with Section 29-15-1, CRS, 1986, to issue by resolution tax anticipation notes in an amount not to exceed fifty percent of all taxes estimated by the County in the current fiscal year. The County repaid the notes prior to December 31, 1988. -48- 890572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Note 10 - Other Required Individual Fund Disclosures: Excesses of expenditures over appropriations in individual fund "Departments" are as follows: Revised Over- Appropriation Expenditure Expenditure Special Revenue Funds: Social Services $14,664,700 $18,631,246 $(3,966,546) Human Resources 4,433,741 4,764,457 (330,716) Enterprise Funds: Ambulance 1,010,011 1,277,694 (267 ,683) Internal Service Funds: Printing & Supplies 174,630 184,347 (9,717) The overage for Social Services was due to increases in programs as the revenue exceeded the budget by $4,081,720. The overage for the Human Resources Fund was caused due to program increases. The overage in the Ambulance Fund is attributed to expanded service, as revenue exceeded budget by $369,171. The overage for Printing & Supply is primarily due to repair cost on older equipment. The District Court, County of Weld, State of Colorado in a Court Order dated January 28, 1983 in Case Number SOCV1091 decreed that in accordance with Section 29-1-111.5, CRS, 1973, Weld County can designate specific ownership tax directly to the Road & Bridge Fund. In accordance with Section 8-44-110, CRS, 1973, a property tax mill levy may be used to fund the self-insurance program for local County activities. Note 11 - Weld County Retirement Plan: The Weld County Retirement Plan ("Plan") is a single employer, trusteed, defined benefit pension plan. All full time employees (except officers and employees of any Federally-funded programs) are required to participate in the plan. At December 31, 1988 the number of participating employees was 860, and the membership consisted of: -49- 89©572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them: 206 Current Employees: Vested 294 Nonvested 360 TOTAL 860 The Plan, established in 1969 provides for pension, death, and disability benefits. All benefits are fully vested after 8 years of service, except elected officials, who are fully vested regardless of years of service. By directive of the retirement board, employees are required to contribute 6.0% of their salaries to the Plan which is equally matched by the County. Contributions during 1988 for both the County and the employees totalled $1,738,808. Total covered payroll for year ended December 31, 1988 was $14,490,067. The Plan utilizes the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the period in which employee services are performed. Investments are reported at cost or amortized cost subject to market declines judged to be other than temporary. Investment income is recognized over the life of the investments. The amount shown below as "Pension Benefit Obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the future as a result of employee service to date. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to the Plan. The "Pension Benefit Obligation" was determined as part of an actuarial valuation at January 1, 1988. The actuarial assumptions used include: A) Rate of return on the investment of present and future assets of 7 . 5% per year compounded annually, and B) Earnings progression at various rates depending on attained age from 8.5% for age 25 to 6.3% for age 64. At January 1, 1988 there are assets in excess of the pension benefit obligation as follows: -50- 890= COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Pension Benefit Obligation: Retirees and Beneficiaries Currently Receiving Benefits $ 5,995 ,883 Terminated Vested Employees Not Yet Receiving Benefits 216 ,935 Current Employees: Accumulated Employee Contributions Including Allocated Investment Income 4,899,573 Employer Financed Vested 4,629 ,319 Employer Financed Nonvested 2,422 , 235 Total Pension Benefit Obligation: 18,163 ,945 Net Assets Available for Benefits (Market Value) : 20,329 ,032 Assets in Excess of Pension Benefit Obligation: $ 2,165 ,087 During the year ended December 31, 1988, the pension benefit obligation increased by $2,007 ,444. $742,380 of the increase is the result of changes in plan provisions and $124,062 results from a change in actuarial assumptions used. Three-year trend information: Trend information for the three years ended December 31, 1986, 1987 , and 1988, respectively, is as follows: Available assets were sufficient to fund 167 .4, 127.1, and 119.2 percent of pension benefit obligation. Weld County does not have an unfunded pension benefit obligation. In addition, for the three years ended December 31, 1986 , 1987 , and 1988 , Weld County's contributions to the system, all made in accordance with actuarially determined requirements, was 6% of annual covered payroll. Ten year trend information - unaudited Ten year historical trend information designed to provide information about the plan's progress in accumulating sufficient assets to pay benefits when due is presented on page 128 in the statistical section of this report. -51- 890572 COUNTY OF WELD STATE OF COLORADO NOTES TO FINANCIAL STATEMENTS Year Ended December 31, 1988 Note 12 - Deferred Compensation: Effective January 1, 1984, as allowed by the provisions of Section 24- 52-101, et. seq. , CRS, 1973, and by Section 457 of the Internal Revenue Code of 1954, as amended, the County established the Deferred Compensation Plan of the County of Weld ("Plan") . The Plan is a special voluntary benefit plan for public employees, in which a portion of the employee's salary can be deferred until future years. Up to 25% of the employee's gross income can be deferred, not to exceed $7 ,500 annually. Compensation deferred by a participant under the plan and earnings on deferred amounts must remain solely the property of the County until paid to the participant or the participant's beneficiary. The County holds these funds in custody for the participants and exercises no discretion over the investment of the funds. The participants election of investments determines the risk factor he is willing to absorb. Investments are recorded at market value. Note 13 - Contingent Liabilities: The County is currently the defendant in several lawsuits. Based upon the opinion of legal counsel, these claims would be covered by insurance and/or there does not appear to be a threat of significant liability to the County. Self-insurance for liability exposure is maintained by the Insurance Fund in the Internal Service Fund group. Effective July 1, 1986, Weld County joined Colorado Counties, Incorporated's Casualty and Property Pool (CAPP) which covers all casualty and property claims with a $500 deductible for first party property claims. Worker's Compensation remains self-insured with a $200,000 per occurrence and $200,000 aggregate annual stop loss limit. Private insurers cover claims above the stop loss limit for all types of insurance. 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. -52- 890572 COMBINING STATEMENTS , INDIVIDUAL FUND AND ACCOUNT GROUP STATEMENTS , AND SCHEDULES Wilk COLORADO 89 572 GENERAL FUND The General Fund accounts for all financial transactions of the County that are not properly accounted for in other funds. Ordinary operations of the County such as public safety, county administration and other activities financed from taxes and general revenues are reflected in this fund. 1 p tsoWUDc. COLORADO COUNTY OF WELD STATE Of COLORADO GENERAL FUND BALANCE SHEET December 31, 1988 and 1987 1988 1987 ASSETS ASSETS: Cash and short term investments $ 1,098,943 $ 3,427,499 Cash - other 20,125 28,125 Receivables (net of allowance for uncollectibles): Current property tax 12,715,954 11,247,635 Delinquent property tax 156,670 182,377 Accounts 209,928 171,904 Special assessment 791,137 902,271 Due from other county funds 527,840 150,978 Due from other governmental units 252,323 220,519 Advances to other funds 80,000 5,000 Inventories 35,106 31,339 Prepaid items 12,533 46,232 TOTAL ASSETS $ 15,900,559 $ 16,413,879 LIABILITIES AND FUND BALANCE LIABILITIES: Accounts payable $ 223,030 $ 153,084 Accrued liabilities 541,277 580,658 Due to other governments 250 15,075 Due to other county funds 377,467 385,229 Deferred revenue 13,692,315 12,230,858 Unexpended grant revenue 264,809 100,391 Advance from other funds 75,000 0 Notes payable 15,000 0 Bonds payable 0 2,005,000 Total Liabilities 15,189,148 15,470,295 FUND BALANCE: Reserve for encumbrances 53,727 45,297 Reserve for advances other funds 80,000 107,289 Reserve for prepaid items 12,533 46,232 Reserved for inventories 35,106 31,339 Designated to future yrs expense 0 190,108 Fund balance - undesignated 530,045 523,319 Total Fund Balance 711,411 943,584 TOTAL LIABILITIES AND FUND BALANCE $ 15,900,559 E 16.413,879 -53- 890572 COUNTY OF WELD STATE OF COLORADO GENERAL FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual TAXES: General property tax $ 11,247,635 $ 11,037,564 $ (210,071) $ 10,652,851 Severance tax 0 2,499 2,499 0 Tobacco products 54,000 75,916 21,916 67,539 Penalties & interest 0 50,619 50,619 59,899 Payment in lieu of taxes 29,890 29,891 1 13,035 Total Taxes 11,331.525 11,196,489 (135,036) 10,793,324 LICENSES AND PERMITS: Liquor licenses 5,300 5,481 181 7,054 Plow permits 0 0 0 280 Planning permits 87,025 70,811 (16,214) 68,951 Building permits 235,000 214,558 (20,442) 260,406 Electrical permits 54,000 59,884 5,884 46,016 Total Licenses and permits 381,325 350,734 (30,591) 382,707 INTERGOVERNMENTAL REVENUE: Contract payments 140,000 163,546 23,546 129,631 Grant 1,014,664 914,848 (99,816) 629,572 District Attorney 38,000 38,000 0 38,000 Veterans Office 600 500 (100) 600 Cities & towns 97,544 76,099 (21,445) 81,363 Total Intergovernmental revenue 1,290,808 1,192,993 (97,815) 879,166 CHARGES FOR SERVICES: Plan checking fees 11,000 11,749 749 6,091 Books 8,500 10,104 1,604 10,443 Charge for service 462,490 573,903 111,413 313,166 Sale of supplies 4,800 7,930 3,130 7,356 City contracts 88,400 87,470 (930) 85,332 Parking 15,675 12,550 (3,125) 15,556 Refuse disposal 700 697 (3) 644 Weed spraying 15,700 17,019 1,319 12,896 Total Charges for services 607,265 721,422 114,157 451,484 FINES AND FORFEITURES: Victim witness surcharge 2.5% 5,500 0 (5,500) 0 Property forfeitures/evidence 4,190 4,505 315 1,750 Fines (drunk drivers) 23,000 30,964 7,964 74,715 Total Fines and forfeitures 32,690 35,469 2,779 76,465 MISCELLANEOUS REVENUE: Miscellaneous 22,000 3,912 (18,088) 21,612 Building leases 254,200 163,278 (90,922) 156,274 Royalties 260,000 279,169 19,169 169,765 Rental income 2,400 66,012 63,612 69,030 Special assessments 824,584 1,092,681 268,097 598,117 Other 5,000 76,846 71,846 69,974 Contributions 0 3,692 3,692 4,039 In kind 66,000 65,773 (227) 67,830 DUI fees 59,800 77,693 17,893 5,852 Bond application fee 350 0 (350) 225 Public Trustee deeds 9,000 4,692 (4,308) 8,752 Sale of assets 0 12,438 12,438 1,460 Total Miscellaneous revenue 1,503,334 1,846.186 342,852 1,172,930 (Continued on Next Page) ry -54- 890572 COUNTY OF WELD STATE OF COLORADO GENERAL FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual FEE ACCOUNTS: Sheriff's fees S 115,344 E 96,941 $ (18,403) $ 106,347 Clerk & Recorder fees 1,087,500 1,040,194 (47,306) 1,041,222 Treasurer's fees 520,000 477,649 (42,351) 486,226 Advertising 49,745 50,792 1,047 37,923 Assessor's fees 28,000 22,390 (5,610) 39,211 Surveyor fees 12,000 3,250 (8,750) 950 Bad check fees 0 0 0 15 Investigation Fees 0 1,810 1,810 0 Total Fee accounts 1,812,589 1,693,026 (119,563) 1,711,894 EARNINGS ON INVESTMENTS: Earnings on deposit 1,396,603 1,470,996 74,393 1,141,584 TOTAL REVENUE 18,356,139 18,507,315 151,176 16,609,554 GENERAL GOVERNMENT EXPENDITURES: Office of the Board 258,935 234,665 24,270 239,017 County Attorney 353,386 331,840 21,546 294,982 Public Trustee 4,000 3,687 313 3,497 Planning and zoning 250,659 265,278 (14,619) 222,694 County Clerk 997,707 970,851 26,856 1,090,110 Elections and registration 309,400 296,747 12,653 119,882 County Treasurer 512,035 - 476,923 35,112 469,255 County Assessor 1,246,851 1,238,405 8,446 1,119,757 County Surveyor 12,000 1,888 10,112 285 Maint of buildings/grounds 1,247,948 1,196,717 51,231 1,118,416 County Council 19,784 11,863 7,921 6,937 District Attorney 1,167,369 1,164,356 3,013 1,058,311 Juvenile Diversion Grant 126,914 118,159 8,755 116,868 Victim Assistance 70,532 72,616 (2,084) 71,344 PAC - Diversion 59,577 52,670 6,907 52,274 Financial administration 138,465 132,876 5,589 125,869 General accounting 375,693 361,853 13,840 391,020 Purchasing 146,902 133,978 12,924 136,944 Personnel 185,341 186,554 (1,213) 181,703 Veterans office 0 59 (59) 0 Total General Government Expenditures 7,483,498 7,251,985 231,513 6,819,165 PUBLIC SAFETY: Sheriff administration 1,245,604 1,233,485 12,119 1,129,755 Crime control and investigation 2,088,647 2,020,871 67,776 1,931,129 Posse/special deputies 0 0 0 823 STAR project 5,919 4,035 1,884 0 Regional Forensic Laboratory 36,025 30,875 5,150 49,970 Communications Services 822,830 812,736 10,094 696,135 Communication system development 20,000 13,279 6,721 6,140 E-911 Administration 700 164 536 0 Ambulance services 94,784 94,784 0 0 County Coroner 63,750 66,047 (2,297) 57,807 Correctional administration 2,375,488 2,397,796 (22,308) 2,182,494 Community correction 460,000 436,535 23,465 138,982 Delinquents & other institutions 176,767 168,027 8,740 164,052 Public service - DUI 68,985 69,890 (905) 59,051 Building inspection 291,155 258,769 32,386 269,675 Office of Emergency Management 39,624 35,785 3,839 40,265 Waste water management 7,060 7,060 0 0 Predatory animal control 14,000 14,000 0 9,143 Animal control 67,113 67,113 0 67,146 Pest/weed control 142,200 137,800 4,400 122,032 Missile site park 1,100 899 201 0 Total Public Safety 8,021,751 7,869,950 151,801 6,924,599 (Continued on Next Page) 8905'72 -55- COUNTY OF WELD STATE OF COLORADO GENERAL FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual PUBLIC WORKS: General engineering $ 307,839 $ 304,007 $ 3,832 $ 283,789 Extension service 182,890 181,116 1,774 172,758 Veterans office 49,168 48,075 1,093 45,022 Airport 12,500 0 12,500 21,155 Total Public Works 552,397 533,198 19,199 522,724 PUBLIC HEALTH AND WELFARE: Mental health 112,931 99,553 13,378 72,931 Developmentally disabled 41,105 41,105 0 41,105 Seniors programs 10,500 10,500 0 10,500 Total Public Health and Welfare 164,536 151,158 13,378 124,536 MISCELLANEOUS EXPENDITURES: Tax anticipation notes 15,000 15,000 0 15,000 Other 282,855 217,305 65,550 189,672 IRB building rents 72,000 72,000 0 69,030 Total Miscellaneous Expenditures 369,855 304,305 65,550 273,702 CULTURE AND RECREATION: Missile site park (400) (337) (63) 717 County fair 47,359 91,668 (44,309) 94,993 Total Culture and Recreation 46,959 91,331 (44,372) 95,710 CAPITAL OUTLAY: County Assessor 0 0 0 370 Victim Assistance 8,187 7,510 677 10,028 Equipment 41,569 32,594 8,975 63,796 Sheriff administration 4,400 638 3,762 3,700 Crime control and investigation 20,115 11,579 8,536 23,838 STAR project 7,390 6,835 555 0 Regional Forensic Laboratory 23,653 5,044 18,609 8,475 Communication system development 161,215 136,347 24,868 225,610 Correctional administration 13,360 8,734 4,626 12,328 Improvement districts 0 0 0 8,749 Total Capital Outlay 279,889 209,281 70,608 356,894 DEBT SERVICE: Tax anticipation notes 159,100 159,100 0 126,088 Other 0 63,750 (63,750) 72,500 Building rents 80,743 20,103 60,640 0 Total Debt Service 239,843 242,953 (3,110) 198,588 SUPPLIES: Other 0 3,636 (3,636) 0 OTHER: Regional Forensic Laboratory 7,377 0 7,377 0 TOTAL EXPENDITURES 17,166,105 16,657,797 508,308 15,315,918 OPERATING TRANSFERS - IN: Non-Departmental 0 0 0 37,752 PAC - Diversion 72,133 0 (72,133) 72,334 Total Operating transfers - in 72,133 0 (72,133) 110,086 (Continued on Next Page) g9®5'7 -56- v� COUNTY OF WELD STATE OF COLORADO GENERAL FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual OPERATING TRANSFERS - OUT: Appropriation grants-in-aid (2,022,435) (2,081,691) (59,256) (1,285.193) TOTAL OTHER FINANCING SOURCES (1,950,302) (2,081,691) (131,389) (1,175,107) EXCESS OF REVENUE AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES S (760.268) S (232,173) S 528,095 $ 113,529 -57- 8052 ils} "1716 COLORADO -58- SPECIAL REVENUE FUNDS Special Revenue Funds are established to account for taxes or ocher earmarked revenues of the County which finance specified activities as required by law or administrative action. c. COLORADO 893572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS December 31, 1988 Road and Bridge Fund: The Road and Bridge Fund records all costs related to Weld County road and bridge construction and maintenance. This fund is also utilized for allocation of monies to cities and towns for use in their road and street activities. Social Services Fund: The Social Services Fund accounts for the various public welfare programs administered by the County. 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 unforeseen expenditures. 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. Human Resources Fund: The Human Resources Fund accounts for various Federal and State human service grants. Primary funding agencies are DOL, HHS, and CSA. 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 further improvement and development of landfill sites within the County. Housing Authority Fund: The Housing Authority Fund accounts for various federal housing grants - primary funding agent is HUD. -59- 890572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUES FUND COMBINING BALANCE SHEET December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 Road and Social Conservation Bridge Services Trust Contingent Fund Fund Fund Fund ASSETS ASSETS: Cash and short term investments $ 3,346,674 $ 897,147 $ 144,130 $ 117,205 Cash - other 3,472 716,334 0 0 Receivables (net of allowance for uncollectibles): - Current property tax 3,508,140 2,559,753 0 975,098 Delinquent property tax 46,841 31,258 0 12,862 Accounts 25,775 0 1,045 0 Special assessment 73,236 0 0 0 Due from other county funds 52,926 21,788 0 0 Due from other governmental units 12,994 131,755 0 0 Advances to other funds 0 0 0 0 Inventories 837,329 0 0 0 Prepaid expenses 11 9,574 0 0 TOTAL ASSETS S 7,907,398 S 4.367.609 S 1L,175 S 1,105.165 LIABILITIES AND FUND BALANCE LIABILITIES: Accounts payable $ 139,673 $ 98,355 $ 0 $ 0 Accrued liabilities 121,737 137,762 0 0 Due to other county funds 368,753 30,144 0 100,000 Deferred revenue 3,657,494 2,614,343 0 996,079 Unexpended grant revenue 0 1,324,591 0 0 Other liabilities 0 16,578 0 0 Total Liabilities 4,287,657 4,221,773 0 1,096,079 FUND BALANCE: Reserve for encumbrances 833,832 0 0 0 Reserve for advances other funds 0 0 0 0 Reserve for prepaid expenses 11 9,574 0 0 Reserved for inventories 837,329 0 0 0 Designated to future yrs expense 1,560,309 0 0 0 Fund balance - undesignated 388.260 136,262 145,175 9,086 Total Fund Balance 3,619,741 145,836 145,175 9,086 TOTAL LIABILITIES AND FUND BALANCE $ 7, , 907.398 $ 4367.609 $ 145.175 $ 1 105 165 -60- 8905'72 Public Human Solid Housing Total Health Resources Waste Authority December 31 December 31 Fund Fund Fund Fund 1988 1987 $ 203,826 $ 295,416 $ 315,542 $ 14,616 8 5,334,556 $ 5,013,514 200 75 0 18,128 738,209 940,152 0 0 0 0 7,042,991 6,614,857 0 0 0 0 90,961 107,662 29,561 144,519 16,235 290 217,425 284,075 0 0 0 0 73,236 0 3,902 56,488 0 4 135,108 188,170 93,385 975,810 0 58,981 1,272,925 729,285 0 0 75,000 0 75,000 75,000 32,184 0 0 0 869,513 740,778 0 4,330 0 76,745 90,660 59,787 S 363,058 $ 1 476 638 S 406,777 S 168,764 $ 15,940,584 $ 14,753,280 S 35,912 $ 102,147 S 3,688 $ 24,412 $ 404,187 $ 427,704 58,111 168,042 0 2,959 488,611 439,681 12,652 54,801 0 1,698 568,048 579,697 870 2,718 75,000 0 7,346,504 6,809,591 37,743 26,044 0 86,994 1,475,372 1,474,278 0 49,886 0 0 66,464 69,936 145,288 403,638 78,688 116,063 10,349,186 9,800,887 2,661 175,573 0 0 1,012,066 537,293 0 0 75,000 0 75,000 75,000 0 4,330 0 76,745 90,660 59,497 32,184 0 0 0 869,513 740,778 0 0 0 0 1,560,309 1,115,348 182,925 893,097 253,089 (24,044) 1,983,850 2,430,183 217,770 1,073,000 328,089 52,701 5,591,398 4,952,393 E 363,058 $ 1,476,638 $ 406,777 $ 168,764 S 15,940,584 $ 14,753,280 -61- 890572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUES FUND COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 Road and Social Conservation Bridge Services Trust Contingent Fund Fund Fund Fund REVENUES: Taxes $ 4,344,022 $ 2,515,800 8 0 $ 994,329 Licenses and permits 224,810 0 0 0 Intergovernmental 3,551,057 16,261,227 154,074 0 Charges for services 256,107 0 0 0 Miscellaneous 18,963 52 4,427 0 Contributions 0 0 0 0 Total Revenues 8,394,959 18,777,079 158,501 994,329 EXPENDITURES: Public works 7,758,816 0 0 0 Public health and welfare 0 18,587,720 0 0 Miscellaneous 0 42,253 0 0 Culture and recreation 0 0 144,046 0 Economic assistance 0 0 0 0 Capital outlay 165,025 1,273 11,188 0 Intergovernmental 720,201 0 0 0 Personnel services 0 0 0 0 Total Expenditures 8,644,042 18,631,246 155,234 0 EXCESS REVENUES OVER (UNDER) EXPENDITURES (249,083) 145,833 3,267 994,329 OTHER FINANCING SOURCES: Operating transfers - in 542,065 122,195 0 0 Operating transfers - out 0 0 0 (1,022,195 Total Other Financing Sources 542,065 122,195 0 (1,022,195) EXCESS REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES 292,982 268,028 3,267 (27,866) FUND BALANCE AT BEGINNING OF YEAR 3,326,759 (122,192) 141,908 36,952 FUND BALANCE AT END OF YEAR S 3,619,741 l..... 1.1.. ..5836 $ 145,175 $ 9,086 -62- 8905'72 Public Human Solid Housing Total Health Resources Waste Authority December 31 December 31 Fund Fund Fund Fund 1988 1987 $ 0 $ 0 S 0 $ 0 $ 7,854,151 $ 7,770,984 200 0 0 0 225,010 230,319 419,938 3,780,878 0 1,359,702 25,526,876 25,108,363 199,999 289,228 165,473 0 910,807 692,078 1,370 216,801 0 1,332 242,945 173,156 0 31 0 0 31 0 621,507 4.286,938 165,473 1,361,034 34,759,820 33,974,900 0 0 0 0 7,758,816 9,353,622 1,417,841 0 0 0 20,005,561 19,862,718 0 0 2,131 90,287 134,671 138,837 0 0 0 0 144,046 148,461 0 4,758,099 0 1,268,365 6,026,464 4,491,346 7,310 6,358 0 966 192,120 246,166 0 0 0 0 720,201 594,982 0 0 0 84 84 0 1,425,151 4,764,457 2,131 1,359,702 34,981,963 34,836,132 (803,644) (477,519) 163,342 1,332 (222,143) (861,232) 846,095 415,050 0 0 1,925,405 2,129,550 0 0 (42,065) 0 (1,064,260) (1,164,481) 846,095 415,050 (42,065) 0 861,145 965,069 42,451 (62,469) 121,277 1,332 639,002 103,837 175,319 1,135,469 206,812 51,369 4,952,396 4,848,556 $ 217,770 $ 1,073,000 $ 328,089 $ 52,701 $ 5,591,398 $ 4,952,393 -63- 590512 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS ROAD AND BRIDGE FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual TAXES: General property tax $ 3,309,743 $ 3,257,550 $ (52,193) $ 3,396,765 Specific ownership taxes 1,000,000 1,071,575 71,575 901,942 Penalties & interest 0 14,897 14,897 19,135 Total Taxes 4,309,743 4,344,022 34,279 4,317,842 LICENSES AND PERMITS: Moving permits 206,000 224,810 18,810 230,194 INTERGOVERNMENTAL REVENUE: Matching funds snow/gravel 1,000 0 (1,000) 0 Mineral leasing 24,000 25,739 1,739 41,185 Grazing act 92,000 92,407 407 56,250 Payment in lieu of taxes 0 10,027 10,027 10,140 Motor vehicle registration fee 190,000 212,278 22,278 189,569 Highway user tax fund 4,876,835 3,210,606 (1,666,229) 4,011,604 Total Intergovernmental Revenue 5,183,835 3,551,057 (1.632.778) 4,308,748 CHARGES FOR SERVICES: Charge for service 202,000 256,107 54,107 39,004 MISCELLANEOUS REVENUE: Miscellaneous 19,000 18,963 (37) 61,753 TOTAL REVENUE 9,920,578 8,394,959 (1,525,619) 8,957,541 PUBLIC WORKS: Bridge construction 1,334,557 801,336 533,221 802,793 Maintenance of condition 1,951,315 1,968,052 (16,737) 1,660,187 Maintenance support 1,397,504 1,321,075 76,429 686,124 Trucking division 1,003,282 993,689 9,393 951,323 Mining division 839,276 758,917 80,359 790,516 Administration 193,018 192,121 897 192,134 Other public works 4,431,728 1,723,426 2,708,302 4,270,545 Total Public works 11,150,680 7,758,816 3,391,864 9,353,622 CAPITAL OUTLAY: Maintenance of condition 0 0 0 3,274 Mining division 250,000 165,025 84,975 0 Total Capital outlay 250,000 165.025 84,975 3,274 INTERGOVERNMENTAL EXPENDITURES: Grants-in-aid to cities/towns 742,386 720,201 22,185 594,982 TOTAL EXPENDITURES 12,143,066 8,644,042 3,499,024 9,951,878 OPERATING TRANSFERS - IN: Non-Departmental 0 542,065 542,065 1,054,395 OPERATING TRANSFERS - OUT: Other public works (100,000) 0 100,000 (1,693) TOTAL OTHER FINANCING SOURCES (100,000) 542,065 642,065 1,052,702 EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES $ (2,322,488) $ 292,982 S 2,615,470 $ 58 365 -64- 890572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS SOCIAL SERVICES FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual TAXES: General property tax S 2,370,535 $ 2,330,702 $ (39,833) $ 2,278,346 Specific ownership taxes 165,938 174,433 8,495 146,236 Penalties & interest 0 10,665 10,665 12,814 Total Taxes 2,536,473 2,515,800 (20,673) 2,437,396 INTERGOVERNMENTAL REVENUE: Contract payments 0 45,707 45,707 66,136 Welfare (SS) 12,158,886 16,215,520 4,056,634 16,082,992 Total Intergovernmental Revenue 12,158,886 16,261,227 4,102,341 16,149,128 MISCELLANEOUS REVENUE: Sale of assets 0 52 52 0 TOTAL REVENUE 14,695,359 18,777,079 4,081,720 18,586,524 PUBLIC HEALTH AND WELFARE: Administrative - regular 3,125,400 2,936,260 189,140 2,945,957 Administrative - IV-D 455,500 397,314 58,186 462,897 Institutional care 100,000 146,137 (46,137) 52,482 Food stamps 0 5,372,873 (5,372,873) 5,198,220 General assistance 100,000 93,917 6,083 96,890 AB 8,000 5,181 2,819 5,820 AFDC 4,625,000 4,118,402 506,598 4,657,418 AND - State 0 504,154 (504,154) 528,790 CW - FC 1,820,000 847,873 972,127 1,065,052 AFDC - FC 0 443,567 (443,567) 403,294 Day care 725,000 678,251 46,749 444,990 Medicaid transportation 30,000 8,219 21,781 19,797 Non-contractual case services 0 10,665 (10,665) 11,312 OAP - A 1,875,000 1,501,184 373,816 1,663,358 Placement alternative care 0 268,094 (268,094) 171,275 AFDC - U 0 (263) 263 (271) AND - other 575,000 0 575,000 0 Staff development 0 32 (32) 0 Medical examinations 0 10,508 (10,508) 11,680 IV-D 0 175,375 (175,375) (204,021) AB - treatment 0 0 0 10,243 Administrative - LEAP 71,600 41,219 30,381 56,700 Administrative - LEAP outreach 0 28,159 (28,159) 18,820 LEAP - regular 1,150,000 936,270 213,730 886,908 LEAP - emergency 0 18,622 (18,622) 25,237 FEMA 0 45,707 (45,707) 66,191 Total Public Health and Welfare 14,660,500 18,587,720 (3,927,220) 18,599,039 MISCELLANEOUS EXPENDITURES: Staff development 0 4,021 (4,021) 2,441 Staff Travel 0 38,232 (38,232) 42,443 Total Miscellaneous Expenditures 0 42,253 (42,253) 44,884 CAPITAL OUTLAY: Administrative - regular 3,900 1,273 2,627 6,458 Administrative - IV-D 300 0 300 0 Total Capital Outlay 4,200 1,273 2,927 6,458 TOTAL EXPENDITURES 14,664,700 18,631,246 (3,966,546) 18,650,381 (Continued on Next Page) .p90572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS SOCIAL SERVICES FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual OPERATING TRANSFERS - IN: Non-Departmental $ 0 S 122,195 $ 122,195 $ 0 OPERATING TRANSFERS - OUT: Placement alternative care 0 0 0 (72,334) TOTAL OTHER FINANCING SOURCES 0 122,195 122,195 (72,334) EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES it=2„122 $ 268Q28 $ 23,369 S (136.191) -66- 59C6 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS CONSERVATION TRUST FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual INTERGOVERNMENTAL REVENUE: State lottery $ 162,736 $ 154,074 S (8,662) $ 162,736 MISCELLANEOUS REVENUE: Earnings on deposit 0 4,427 4,427 4,754 TOTAL REVENUE 162,736 158,501 (4.235) 167,490 CULTURE AND RECREATION: Land improvements 162,736 144,046 18,690 148,461 CAPITAL OUTLAY: Land improvements 0 11,188 (11,188) 0 TOTAL EXPENDITURES 162,736 155,234 7,502 148,461 EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES $ 0 S 3,267 E 3,267 $ 19,029 -67- 890572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS CONTINGENT FUND Schedule of Revenues and Expenditures. Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual TAXES: General property tax $ 934,579 $ 921,309 $ (13,270) $ 949,229 Specific ownership taxes 65,421 68,813 3,392 61,158 Penalties & interest 0 4,207 4,207 5,359 Total Taxes 1,000.000 994.329 (5,671) 1,015,746 TOTAL REVENUE 1.000,000 994,329 (5,671) 1.015,746 MISCELLANEOUS EXPENDITURES: Other 1,000,000 0 1,000,000 0 TOTAL EXPENDITURES 1,000,000 0 1,000,000 0 OPERATING TRANSFERS - OUT: Other 0 (1,022,195) (1,022.195) (1,024,841) TOTAL OPERATING TRANSFERS-OUT 0 (1.022,195) (1,022,195) (1,024,841) EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES $ 0 $ (27,866) $ (27.866) $ (9,095) -68- 890572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS PUBLIC HEALTH FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual LICENSES AND PERMITS: Health license $ 250 $ 200 $ (50) $ 125 INTERGOVERNMENTAL REVENUE: Grant 371,755 393,016 21,261 309,680 Health 23,595 24,422 827 26,868 Counties 0 2,500 2,500 0 Total Intergovernmental Revenue 395,350 419,938 24,588 336,548 CHARGES FOR SERVICES: Charge for service 12,900 880 (12,020) 12,958 Protective inspection fees 10,850 12,312 1,462 7,621 Vital statistics 28,560 31,715 3,155 30,543 Health inspection fees 0 90 90 0 GC cultures 0 633 633 453 Clinic fees 36,100 69,039 32,939 51,173 Septic 45,000 46,217 1,217 43,931 Water 22,000 39,113 17,113 36,848 Total Charges for Services 155,410 199,999 44,589 183,527 MISCELLANEOUS REVENUE: Rental income 400 530 130 757 Other 0 25 25 9 Contributions 0 815 815 855 Total Miscellaneous Revenue 400 1,370 970 1,621 TOTAL REVENUE 551,410 621,507 70,097 521,821 PUBLIC HEALTH AND WELFARE: Public health administration 30,560 26,387 4,173 75,458 Nursing 967,293 946,232 21,061 800,999 Environmental Health 460,967 445,222 15,745 387,222 Total Public Health and Welfare 1,458,820 1,417,841 40,979 1,263,679 CAPITAL OUTLAY: Public health administration 8,200 5,328 2,872 8,668 Nursing 1,345 1,982 (637) 639 Total Capital Outlay 9,545 7,310 2,235 9,307 TOTAL EXPENDITURES 1,468,365 1,425,151 43,214 1,272,986 OPERATING TRANSFERS - IN: Non-Departmental $ 885,679 $ 846,095 $ (39,584) $ 689,371 Environmental Health 6,000 0 (6,000) 0 TOTAL OPERATING TRANSFERS-IN 891,679 846,095 (45,584) 689,371 EXCESS OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES S (25.276) $ 42.451 S 67,727 $ (61;794) -69- $905'72 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS HUMAN RESOURCES FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual INTERGOVERNMENTAL REVENUE: Contract payments $ 1,277,066 $ 595,421 $ (681,645) $ 940,801 Other 114,875 22,519 (92,356) 15,823 Grant 2,706,909 3,067,826 360,917 2,237,804 Loan repayments 0 95,112 95,112 0 Total Intergovernmental Revenue 4,098,850 3,780,878 (317,972) 3,194,428 CHARGES FOR SERVICES: Charges for service 0 289,228 289,228 304,367 MISCELLANEOUS REVENUE: Other 0 (3,451) (3,451) (53) Counties 0 22,654 22,654 0 Donations from private sources 0 79,226 79,226 100,350 Loan repayments 0 0 0 53 Welfare diversion 0 118,372 118,372 0 Total Miscellaneous Revenue 0 216,801 216,801 102,056 CONTRIBUTIONS: Donations from private sources 0 31 31 0 TOTAL REVENUE 4,098,850 4,286,938 188,088 3,600,851 ECONOMIC ASSISTANCE: Human Resources 2,871 2,871 0 8,587 JTPA performance incentive 19,103 19,103 0 17,746 Dislocated farmers 50,053 30,053 20,000 49,850 JTPA 8% Local distribution 58,593 34,867 23,726 13,331 JTPA 8% education coordination 0 0 0 10,484 JTPA 6% training 8 tech assist 13,170 13,170 0 18,462 JTPA IIA 6% incentive 2,095 1,353 742 10,714 JTPA dislocated workers 28,502 35,386 (6,884) 25,313 JTPA older workers 25,768 26,186 (418) 34,903 6% TAT C.O. 130,000 77,238 52,762 44,639 MIS - tape 0 0 0 19,184 JTPA incentive 0 0 0 1,561 Transportation 14,000 9,249 4,751 0 Summer youth 487,950 433,160 54,790 295,841 JTPA basic 1,011,127 868,128 142,999 724,315 Job service 247,352 237,844 9,508 269,221 Wagner-Peyser 10% smr job hunt 4,576 4,576 0 0 Job service incentive funds 0 0 0 10,889 UI Training program 0 5,654 (5,654) 1,638 WCCN 0 22,654 (22,654) 0 ' Head Start 544,535 604,140 (59,605) 563,542 Head Start handicap 20,879 20,879 0 20,271 Head Start T & TA 9,360 9,360 0 10,724 Headstart bilingual/multicltrl 9,159 9,159 0 16,141 Migrant Hdst/day care basic 540,926 678,430 (137,504) 385,594 CSA/CAP 152,207 95,112 57,095 147,859 Migrant Head Start-handicap 27,785 17,411 10,374 20 Head Start - high scope 0 5,744 (5,744) 3,377 Migrant Headstart 0 3,661 (3,661) 0 Supplemental foods 187,515 100,911 86,604 94,140 Supplemental foods - elderly 0 0 0 18,865 DOE weatherization 14,875 15,691 (816) 14,683 CDBG ESCH 19,750 19,621 129 0 CDBG ESG 27,580 27,463 117 0 OAA Area Agency 39,184 36,895 2,289 37,784 (Continued on Next Page) -70- 890572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS HUMAN RESOURCES FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual ECONOMIC ASSISTANCE (CONTINUED): OAA Title III-B $ 161,297 $ 91,439 $ 69,858 $ 121,797 AAA case management 16,500 27,014 (10,514) 21,509 AAA legal aide 118 0 29,889 (29,889) (204) AAA Ombudsman II-B 0 27,769 (27,769) (359) OAA Title III C-I congregate 136,620 230,107 (93,487) 185,605 OAA Title III-C 34,409 12,976 21,433 64,319 NCBC training 0 0 0 108 Human resources general fund 0 590,525 (590,525) 172,810 Transportation 100,000 2,061 97,939 0 Welfare diversion 296,000 280,350 15,650 194,740 EODS allocation 0 0 0 (399) Total Economic Assistance 4,433,741 4,758,099 (324,358) 3,629,604 CAPITAL OUTLAY: JTPA 8% local distribution 0 0 0 3,506 JTPA older workers 0 0 0 4 6% TAT C.O. 0 0 0 5,360 MIS - tape 0 0 0 14,614 Summer youth 0 0 0 66 JTPA basic 0 2,291 (2,291) 223 Job service 0 2,308 (2,308) 729 Head Start 0 0 0 5,005 Migrant Hdst/day care basic 0 0 0 32 CSA/CAP 0 0 0 37 Supplemental foods 0 416 (416) 21 DOE weatherization 0 0 0 2 OAA Area Agency 0 0 0 26 AAA case management 0 143 (143) 254 AAA Legal aide IIB 0 0 0 204 AAA Ombudsman II-B 0 0 0 359 OAA Title III C-I congregate 0 0 0 11 OAA Title III-C 0 0 0 554 Transportation 0 1,200 (1,200) 195,564 EODS allocation 0 0 0 399 Total Capital Outlay 0 6,358 (6,358) 226,970 TOTAL EXPENDITURES 4,433,741 4,764,457 (330,716) 3,856,574 OPERATING TRANSFERS - IN: OAA Area Agency 10,756 10,756 0 10,756 Welfare diversion 0 404,294 404,294 375,028 TOTAL OPERATING TRANSFERS-IN 10,756 415,050 404,294 385,784 EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES S (324,135) S (62,469) $ 261,666 $ 130,061 -71- 89®572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS SOLID WASTE FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual CHARGES FOR SERVICES: Landfill surcharge $ 125,000 $ 165,473 $ 40,473 $ 165,180 MISCELLANEOUS EXPENDITURES: Other operating transfers 275,000 2,131 272,869 25,922 OPERATING TRANSFERS - OUT: Other operating transfers 0 (42,065) (42,065) (54,500) EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES $ (150,000) $ 121,277 $ 271,277 $ 84,758 -7 2- 890572 COUNTY OF WELD STATE OF COLORADO SPECIAL REVENUE FUNDS HOUSING AUTHORITY FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual INTERGOVERNMENTAL REVENUE: Grant $ 1,587,669 $ 1,353,374 $ (234,295) $ 926,251 Other 19,794 6,328 (13,466) 19,411 Total Intergovernmental Revenue 1,607,463 1,359,702 (247,761) 945,662 MISCELLANEOUS REVENUE: Earnings on deposit 23,342 1,332 (22,010) 1,472 Sale of assets 0 0 0 1,500 Total Miscellaneous Revenue 23,342 1,332 (22,010) 2,972 TOTAL REVENUE 1,630,805 1,361,034 (269,771) 948,634 MISCELLANEOUS EXPENDITURES: Other 23,342 0 23,342 5,990 Post-administrative 7,500 7,358 142 8,177 Administrative 67,754 24,045 43,709 21,798 Housing voucher administrative 100 401 (301) 0 Housing preservation - administration 3,000 2,683 317 0 Housing preservation 32,600 0 32,600 0 General administration 39,200 38,142 1,058 32,066 CDBG contract payments 32.600 17,658 14,942 0 Total Miscellaneous Expenditures 206,096 90,287 115,809 68,031 ECONOMIC ASSISTANCE: Housing assistance 546,436 496,698 49,738 365,582 Housing vouchers preliminary 10,346 10,346 0 15,050 Housing voucher administrative 29,446 12,616 16,830 7,860 Housing voucher payments 407,003 379,033 27,970 172,921 Division of housing 0 0 0 23,158 Rental rehabilitation 238,970 193,044 45,926 14,298 CDBG contract payments 192,158 176,628 15,530 262,873 Total Economic Assistance 1,424,359 1,268,365 155,994 861,742 CAPITAL OUTLAY: Administrative 0 456 (456) 0 Housing vouchers preliminary 510 510 0 0 General administration 100 0 100 157 Total Capital Outlay 610 966 (356) 157 PERSONNEL SERVICES: Administrative 100 42 58 0 General administration 0 42 (42) 0 Total Personnel Services 100 84 16 0 TOTAL EXPENDITURES 1,631,165 1,359,702 271,463 929,930 EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES S (360) $ 1.332 $ 1.692 $ 18,704 -73- 890572 COLORADO CAPITAL PROJECTS FUNDS Capital Pro5ects Funds are established to account for financial resources used for the acquisition or improvement of the capital facilities of the County. 14A 1*1 WIDc. COLORADO 690572 COUNTY OF WELD STATE OF COLORADO CAPITAL PROJECTS FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS December 31, 1988 Capital Expenditures Fund: This fund accounts for various capital improvement projects on County property. -75- 890572 COUNTY OF WELD STATE OF COLORADO CAPITAL PROJECTS FUND CAPITAL EXPENDITURES FUND BALANCE SHEET December 31, 1988 and 1987 1988 1987 ASSETS ASSETS: Cash and short term investments $ 1,345,084 $ 1,514,834 Cash - other 4,981 3,925 Receivables (net of allowance for uncollectible accounts): Current property tax 0 532,000 Delinquent property tax 6,343 5,255 Accounts 5,159 1,030 Due from other county funds 120,552 80 Due from other governmental units 166.554 0 TOTAL ASSETS $ 1.648.673 $ 2.057 124 LIABILITIES AND FUND BALANCE LIABILITIES: Accounts payable $ 344,882 $ 60,397 Accrued Liabilities 1,675 1,675 Due to other county funds 140,862 80 Deferred revenue 6,343 537,255 Retainage payable 200.754 72,014 Total Liabilities 694.516 671,421 FUND BALANCE: Reserve for encumbrances 884,157 144,351 Designated to future year's expenditures 70,000 1,241,352 Total Fund Balance 954,157 1,385,703 TOTAL LIABILITIES AND FUND BALANCE $ 1.648.673 $ 2.057.124 -76- 890572 COUNTY OF WELD STATE OF COLORADO CAPITAL PROJECTS FUNDS CAPITAL EXPENDITURES FUND Schedule of Revenues and Expenditures, Budget and Actual December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual TAXES: General property tax $ 532,000 S 523,161 S (8,839) $ 261,987 Specific ownership taxes 38,640 39,145 505 16,700 Penalties 8 interest 0 2,393 2,393 1,463 Total Taxes 570,640 564,699 (5,941) 280,150 INTERGOVERNMENTAL REVENUE: Grants 640,000 640,000 0 0 CHARGES FOR SERVICES: Charge for service 0 0 0 6,155 MISCELLANEOUS REVENUE: Sale of assets 0 498,542 498,542 1,710,000 EARNINGS ON INVESTMENTS: Earnings on deposit 24,000 33,572 9,572 1,030 TOTAL REVENUE 1,234,640 1,736,813 502,173 1,997,335 MISCELLANEOUS EXPENDITURES: Buildings 0 0 0 17,298 CAPITAL OUTLAY: Buildings 5,590,025 3.338,904 2,251,121 1,034,212 DEBT SERVICE: Buildings 0 0 0 1,675 TOTAL EXPENDITURES 5,590,025 3.338,904 2,251,121 1,053,185 OPERATING TRANSFERS - IN: Non-Departmental 1,150,000 1,170,545 20,545 0 BOND PROCEEDS Non-Departmental 2,950,000 1,170,545 (1.779,455) 317,000 TOTAL OTHER FINANCING SOURCES 2,950,000 1,170,545 (1.779,455) 317,000 EXCESS OF REVENUE AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES $ (1,405,385) 1....j731,546, S 6K1,839 $ 1,261,150 -77- 890572 :ItI Wilk COLORADO -78- ENTERPRISE FUNDS Enterprise Funds are used to 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 of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. 44Itcr Ink coLow, COUNTY OF WELD STATE OF COLORADO ENTERPRISE FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS December 31, 1988 Ambulance Fund: This fund accounts for the ambulance services provided to Weld County. -79- 890572 COUNTY OF WELD STATE OF COLORADO ENTERPRISE FUND BALANCE SHEET December 31, 1988 and 1987 1988 1987 ASSETS CURRENT ASSETS: Cash and short term investments $ 250,205 $ 67,903 Receivables (net of allowance for uncollectible accounts): Ambulance service 211,593 204,661 Other 2,377 4,052 Due from other county funds 8,389 90,415 Due from other governmental units 146 0 Prepaid items 69 0 Total Current Assets 472.778 367,032 FIXED ASSETS: Machinery and equipment 46,624 31,717 Accumulated depreciation (14,728) (6,476) Total Fixed Assets 31,896 25,241 TOTAL ASSETS $ 504,675 $ 392,272 LIABILITIES AND FUND EQUITY LIABILITIES: Accounts payable $ 8,501 $ 6,999 Accrued liabilities 73,388 66,856 Due to other county funds 17,571 39,904 Total Liabilities 99,460 113,759 FUND EQUITY: Contributed capital 19,762 19,762 Retained earnings 385,453 258,751 Total Fund Equity 405,215 278,513 TOTAL LIABILITIES AND FUND EQUITY $ 504,675 $ 392,272 COUNTY OF WELD STATE OF COLORADO ENTERPRISE FUND AMBULANCE FUND Schedule of Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual OPERATING REVENUE: Rescue unit fees $ 939.495 $ 1.308.666 $ 369 171 $ 1 19479 Schedule of Non-Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual NONOPERATING REVENUE: Other revenue $ 0 $ 727 $ 727 $ 1,262 Donations 0 196 196 1,450 In kind 94,784 94,784 0 0 Sale of assets 0 23 23 0 Operating Transfers 0 0 0 (110,038) TOTAL NONOPERATING REVENUE $ 94 784 $ 95.730 $ 946 $ 112 750 Schedule of Expenses Compared with Budget December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual OPERATING EXPENSES: Personnel services $ 667,108 $ 677,905 $ (10,797) $ 675,916 Contractual services 60,431 37,476 22,955 36,592 Supplies 43,812 45,765 (1,953) 31,830 Heat, light, and power 7,044 6,574 470 6,885 Repair and maintenance 83,404 89,291 (5,887) 88,629 Insurance and bonds 15,000 0 15,000 15,000 Other expenses 133,212 411,933 (278,721) 313,477 Depreciation expense 0 8,750 (8,750) 6,928 TOTAL EXPENSES $ 1.010.011 $ 1,277.694 $ (267,683) $ 1,175.257 -81- 890572 WIV€. COLORADO -82- INTERNAL SERVICE FUNDS Internal Service Funds are established to account for goods and services provided to other departments of the County on a cost-reimbursement basis. fir W C COLORADO @Se 5'7= COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS December 31, 1988 Motor Vehicle Fund: This fund accounts for the revenue and costs generated by equipment and vehicles rented to the Road and Bridge Fund and to various departments of other County funds. Printing and Supply Fund: This fund accounts for revenue and costs associated with providing printing services and the supply and stores function of the County. Computer Services Fund: This fund accounts for all data processing services provided to the County and other agencies on a cost-reimbursement basis. Insurance Fund: This fund accounts for all insurance costs for the County. The program is a combination of insured risks and protected self-insurance risks. PBX Fund: This fund accounts for all phone costs provided to the County and other outside agencies on a cost reimbursement basis. 890572 -83- COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 Computer Motor Vehicle Printing and Services Fund Supply Fund Fund ASSETS CURRENT ASSETS: Cash and short term investments $ 296,666 $ 67,266 $ 849,548 Cash - other 0 0 0 Receivables (net of allowance for uncollectible accounts): Current property tax 0 0 0 Delinquent property tax 0 0 0 Accounts 1,071 796 6,135 Due from other county funds 419,200 43,866 230,590 Due from other governmental units 2,367 0 0 Inventories 3,356 109,727 0 Prepaid items 0 0 7,819 Total Current Assets 722,660 221,655 1,094,092 FIXED ASSETS: Land 675,184 0 0 Buildings 750,220 0 0 Improvements other than buildings 27,199 0 0 Machinery and equipment 10,358,659 81,837 2,389,542 Construction in progress 1,024,654 0 0 Accumulated depreciation (6,379,094) (61,001) (1,655,795) Total Fixed Assets 6,556,822 20,836 733,747 TOTAL ASSETS $ 7,179,482 $ 242.491 $ 1,827,839 LIABILITIES AND FUND EQUITY LIABILITIES: Accounts payable $ 126,832 $ 22 $ 33,848 Accrued liabilities 0 5,111 153,876 Due to other county funds 1,552 1,998 501,653 Deferred revenue 0 0 29,981 Total Current Liabilities 128,384 7,131 719,358 Advance from other funds 0 80,000 0 Total Liabilities 128,384 87,131 719.358 FUND EQUITY: Contributed capital 5,897,584 120,946 565,155 Retained earnings 1,153,514 34,414 543,326 Total Fund Equity 7,051,098 155,360 1,108,481 TOTAL LIABILITIES AND FUND EQUITY $ 7,179,482 $ 242 491 $ 1827 839 -84- 890572 Total Insurance PBX December 31 December 31 Fund Fund 1988 1987 S 500,614 $ 16,377 $ 1,730,471 $ 1,457,061 7,500 0 7,500 7,500 547,620 0 547,620 511,095 7,453 0 7,453 8,954 1,319 7,807 17,128 55,239 5,744 30,981 730,381 595,562 0 0 2,367 0 0 0 113,083 147,591 182,290 0 190,109 203,305 1,252,540 55,165 3,346,112 2,802,124 0 0 675,184 712,970 0 0 750,220 750,220 0 0 27,199 19,345 0 85,106 12,915,144 11,750,493 0 0 1,024,654 0 0 (36,170) (8,132,060) (7,001,654) 0 48,936 7,260,341 6,231,374 $ 1,252,540 $ 104,101 $ 10,606,453 $ 9,217,681 $ 2,487 $ 3,314 $ 166,503 $ 778,024 287,099 6,557 452,643 160,294 614 3,006 508,823 16,491 519,624 0 589,605 550,030 849,824 12,877 1,717,574 1,504,839 0 0 80,000 80,000 849,824 12,877 1,797,574 1,584,839 0 74,467 6,658,152 5,784,501 402,716 16,757 2,150,727 1,848,341 402,716 91,224 8,808,879 7,632,842 S 1,252,540 $ 104,101 $ 10,606,453 $ 9,217,681 -85- 890572 COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 Computer Motor Vehicle Printing and Services Fund Supply Fund Fund OPERATING REVENUES: Charges for services $ 2,581,901 $ 184,346 $ 2,081,160 Total Operating Revenue 2,581,901 184,346 2,081,160 OPERATING EXPENSES: Personnel services 0 58,898 1,154,827 Contractual services 1,206,002 3,281 399,745 Supplies 226,069 77,230 63,575 Heat, light, and power 36,970 278 15,945 Repair and maintenance 77,979 36,937 98,485 Insurance and bonds 0 0 0 Claims 0 0 0 Other 25,978 0 0 Depreciation 1,070,963 7,723 370,996 Total Operating Expenses 2.643,961 184,347 2,103,573 OPERATING INCOME (LOSS) (62,060) (1) (22,413) NON-OPERATING REVENUE (EXPENSES): Taxes 0 0 0 Miscellaneous 0 0 0 Farm income 603 0 0 Gain on sale of assets 112,538 0 1,324 Earnings on investments 0 0 0 Other (18) 0 0 Judgments and damages 0 0 0 Operating Transfers 0 0 50,000 Total Non-Operating Income (Loss) 113,123 0 51,324 NET INCOME (LOSS) 51,063 (1) 28,911 RETAINED EARNINGS AT BEGINNING OF PERIOD 1,102,451 34,415 514,415 RETAINED EARNINGS AT END OF PERIOD $ 1,153,514 $ 34,414 $ 5433 326 -86- 890572 Total Insurance PBX December 31 December 31 Fund Fund 1988 1987 $ 78,364 $ 426,472 $ 5,352,243 $ 5,087,987 S 78,364 $ 426,472 $ 5,352.243 $ 5,087,987 S 0 $ 78,474 $ 1,292,199 $ 1,349,791 2,563 41,063 1,652,654 1,629,259 0 267 367,141 409,080 0 187,538 240,731 229,945 0 31,050 244,451 243,474 319,712 0 319,712 478,669 276,720 0 276,720 285,647 0 7,199 33,177 10,708 0 8,511 1,458,193 1,273,850 598,995 354,102 5,884,978 5,890,423 (520,631) 72,370 (532,735) (822,436) 542,286 0 542,286 548,693 0 0 0 108 0 0 603 1,803 0 0 113,862 89,807 22,167 0 22,167 22,320 0 (47,447) (47,465) (17,303) 153,668 0 153,668 60,228 0 0 50,000 100,000 718,121 (47,447) 835,121 805,656 197,490 24,923 302,386 (16,780) 205,226 (8,166) 1,848,341 1,865,121 I 'S' $ 16.757 $ 2,150,727 $ 1.848.341 -87- 890 COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION December 31, 1988 Motor Computer Vehicle Printing & Services Insurance Fund Supply Fund Fund Fund PBX Fund Total WORKING CAPITAL PROVIDED: Net Income (Loss) $ 51,063 $ (1) $ 28,911 $ 197,490 $ 24,923 $ 302,386 Items which did not require outlay of working capital: Depreciation 1,070,963 7,723 370,996 0 8,511 1,458,193 (Gain) on sale of fixed assets (112.538) 0 0 0 0 (112,538) Working capital provided by operations 1,009,488 7,722 399,907 197,490 33,434 1,648,041 Contributions from Capital Expenditures Fund 873,651 0 0 0 0 873,651 Proceeds from sale of assets 137 279 0 0 0 0 137,279 Total Working Capital Provided 2.020.418 7.722 399,907 197.490 33 434 2,658,971 WORKING CAPITAL APPLIED: Acquisition of fixed assets 2.124,125 0 387.776 0 0 2,511,901 INCREASE (DECREASE) IN WORKING CAPITAL $ (103 707) L......2211, 8 12,131 8 197,490 $ 33 434 $ 14070 CHANGES IN COMPONENTS OF WORKING CAPITAL: Increase (Decrease) in current assets: Cash & short term investments $ (229,988) $ 6,464 $ 515,794 $ (48,229) $ 29,368 $ 273,409 Receivables: Accounts 200 (418) (33,188) (2,711) (1,994) (38,111) Property taxes (delinquent) 0 0 0 35,024 0 35,024 Due from other county funds 95,204 18,088 54,613 (34,239) 1,154 134,820 Due from Other Governments 2,367 0 0 0 0 2,367 Inventories (21,997) (12,511) 0 0 0 (34,508) Prepaid & other assets 0 (8,244) 4,809 (9,761) 0 (13,196) Net increase (decrease) in current assets (154,214) 3,379 542,028 (59,916) 28,528 359.805 (Increase) decrease in current liabilities: Accounts payable 41,047 6,765 (25,728) 584,694 4,743 611,521 Accrued liabilities 0 (450) (4,767) (287,099) (33) (292,349) Due to other county funds 9,460 (1,972) (499,402) (614) 196 (492,332) Deferred revenue 0 0 0 (39,575) 0 (39,575) Net increase (decrease) in current liabilities 50,507 4.343 (529,897) 257.406 4.906 (212,735) INCREASE (DECREASE) IN WORKING CAPITAL 8 (103,707) $ 7.722 S 12.131 8 197.490 8 33.434 S 147,070 -88- 890572 COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS MOTOR VEHICLE FUND Schedule of Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual OPERATING REVENUE: Charges for service $ 1,584,998 $ 1,510,938 $ (74,060) $ 1,467,256 Depreciation 1,062,530 1,070,963 8,433 939,389 Miscellaneous revenue 0 0 0 0 TOTAL OPERATING REVENUE .L202.47.528 $ 2,581,901 1..._2111,A11.) $ ,406,645 Schedule of Non-Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual NONOPERATING REVENUE (EXPENSES): Farm Income $ 0 $ 603 $ 603 $ 1,803 Gain on sale of assets 107,900 112,538 4,638 90,672 Other 0 (18) (18) 0 TOTAL NONOPERATING REVENUE (EXPENSE) $ 107.900 $ 113.123 $ 5,223 $ 92,475 Schedule of Operating Expenses Compared with Budget December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual OPERATING EXPENSES: Contractual services $ 1,187,364 $ 1,206,002 $ (18,638) $ 1,181,202 Supplies 275,000 226,069 48,931 285,522 Heat, light, and power 38,832 36,970 1,862 40,878 Repair and maintenance 83,802 77,979 5,823 68,618 Other expenses 0 25,978 (25,978) 5,639 Depreciation 1,062.530 1,070,963 (8,433) 939,389 TOTAL EXPENSES $ 2.647,528 $ 2,643,961 $ X567 $ ,521 248 -89- 890572 COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS PRINTING AND SUPPLY FUND Schedule of Operating Revenue Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual OPERATING REVENUE: Charges for service $ 125,630 $ 136,801 $ 11,171 $ 111,996 Sale of supplies 50,000 47,545 (2,455) 44,149 Other 0 0 0 22 TOTAL OPERATING REVENUE $ 175,630 $ 184,346 $ 8,716 $ 156,167 Schedule of Operating Expenses Compared with Budget December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual OPERATING EXPENSES: Personnel services $ 56,588 S 58,898 $ (2,310) $ 55,637 Contractual services 8,290 3,281 5,009 2,103 Supplies 70,500 77,230 (6,730) 73.739 Heat, light, and power 288 278 10 281 Repair and maintenance 29,414 36,937 (7,523) 15,274 Other 1,000 0 1,000 0 Depreciation 8,550 7,723 827 6,590 TOTAL EXPENSES S 174,630 S 184,347 S (9,717) b 153,624 —90- 590572 COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS COMPUTER SERVICES FUND Schedule of Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual OPERATING REVENUE: Charges for service $ 1,980,277 S 2,078,977 $ 98,700 $ 2,071,180 Other revenue 0 2,183 2,183 0 TOTAL OPERATING REVENUE $ 1,980,277 $ 2,081,160 $ 100,883 $ 2 071,180 Schedule of Non-Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual NONOPERATING REVENUE: Gain on sale of assets $ 0 $ 1,324 $ 1,324 $ (500) Operating transfers 50,000 50,000 0 100,000 TOTAL NONOPERATING REVENUES $ 50,000 $ 51,324 $ 1,324 $ 100,000 Schedule of Operating Expenses Compared with Budget December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual OPERATING EXPENSES: Personnel services $ 1,201,365 $ 1,154,827 $ 46,538 $ 1,215,638 Contractual services 398,762 399,745 (983) 371,981 Supplies 49,983 63,575 (13,592) 46,437 Heat, light, and power 14,652 15,945 (1,293) 13,558 Repair and maintenance 103,642 98,485 5,157 119,641 Other expenses 2,230 0 2,230 0 Depreciation expense 372,000 370,996 1,004 319,360 TOTAL EXPENSES $ 2,142,634 $ 2,103,573 $ 39,061 $ 2,056,615 -91- 890572 COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS INSURANCE FUND Schedule of Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual OPERATING REVENUE: Charge for service $ 12,632 $ 40,317 $ 27,685 $ 73,533 Miscellaneous revenue 0 38,047 38,047 0 TOTAL OPERATING REVENUE $ 12,632 $ 78,364 $ 65,732 $ 73,533 Schedule of Non-Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual NONOPERATING REVENUE: General property tax $ 511,095 $ 502,387 S (8,708) $ 512,895 Specific ownership taxes 38,500 37,600 (900) 32,914 Penalties & interest 0 2,299 2,299 2,884 Earnings on deposit 35,000 22,167 (12,833) 22,320 Judgments and damages 150,000 153,668 3,668 60,228 TOTAL NONOPERATING REVENUE S 734,595 $ 718,121 S J16,474) $ 631 241 Schedule of Operating Expenses Compared with Budget December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual OPERATING EXPENSES: Contractual services $ 20,500 S 2,563 $ 17,937 S 19,415 Supplies 1,600 0 1,600 2,279 Insurance and bonds 629,601 319,712 309,889 478,669 Claims 375,000 276,720 98,280 285,647 TOTAL EXPENSES 1,S1 S 598,995 $ 427,706 S 786.010 -92- 8so572 COUNTY OF WELD STATE OF COLORADO INTERNAL SERVICE FUNDS PBX FUND Schedule of Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual OPERATING REVENUE: Charge for service 8 410,044 8 426,472 S 16,428 8 380,462 Schedule of Non-Operating Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual NONOPERATING REVENUE (EXPENSES): Other 8 S47 447) S (47,447) $ 0 $ S17 195) Schedule of Operating Expenses Compared with Budget December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Budget Actual Variance Actual OPERATING EXPENSES: Personnel services $ 83,611 8 78,474 8 5,137 $ 78,516 Contractual services 52,126 41,063 11,063 54,558 Supplies 1,489 267 1,222 1,103 Heat, light, and power 175,918 187,538 (11,620) 175,228 Repair and maintenance 40,388 31,050 9,338 39,941 Other 7,219 7,199 20 5,069 Depreciation 0 8,511 (8,511) 8,511 TOTAL EXPENSES $ 360 751 $ 354,102 $ 6 649 8 362,926 890572 -93- VIOc -94- TRUST AND AGENCY FUNDS Trust and Agency Funds are established to record transactions relating to assets held by the County in the capacity of trustee, custodian or agent fur individuals, governmental entities and non-public organizations. Ottft1444 COLORADO 59 . 5'72 tis :Iti ape COLORADO -95- 890572 COUNTY OF WELD STATE OF COLORADO TRUST AND AGENCY FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS December 31, 1988 Pension Trust Funds: Weld County Retirement Fund: The Weld County Retirement Fund accounts for the defined benefit retirement pension plan which covers substantially all permanent, full-time employees of Weld County. Expendable Trust Funds: North Colorado Medical Center Trust Fund: This fund accounts for the revenue and related capital expenditures as required by the North Colorado Medical Center Board of Trustees , an autonomous board responsible for administering the operations of the hospital. Health Insurance Trust Fund: This fund accounts for cash held in trust for employees and the County for the self-insured health insurance coverage. Revenue is generated from contributions from both employees and the County as the employer, and disbursements are made after insuring claims have been approved by our independent insurance adjuster. Employee Flexible Spending Fund: This fund accounts for the voluntary tax deferred payment of unreimbursed insurance claims. Request for payment must be incurred and paid for the current calendar year. Non-Expendable Trust Funds: Weld Finance Corporation: This component unit functions solely to acquire real estate, and construct buildings to lease to the County and others. Agency Funds: General Agency Fund: This fund accounts 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. -96- 890572 COUNTY OF WELD STATE OF COLORADO TRUST AND AGENCY FUNDS EXPLANATIONS OF INDIVIDUAL FUNDS - CONTINUED Deferred Compensation Fund: This fund accounts for, and invests, the accumulation of voluntary employee contributions. Through Internal Revenue Code (Section 457) , the funds are the property of Weld County until such time as the employee terminates or otherwise qualifies for payment through the plan guidelines. Emergency Telephone Service: This fund accounts for the E-911 function in the County which serves all emergency agencies of the County. 890572 -97- COUNTY OF WELD STATE OF COLORADO TRUST AND AGENCY FUNDS COMBINING BALANCE SHEET December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 Non-Expendable Pension Trust Expendable Trust Trust Weld County North Colorado Health Employee Weld Retirement Medical Insurance Flexible Finance Fund Trust Fund Fund Spending Corporation ASSETS ASSETS: Cash and short term investments $ 145,349 $ 2,808,537 $ 667,668 S 0 S 343,211 Cash - other 800,581 0 0 0 0 Investments 21,247,697 0 0 0 0 Receivables (net of allowance for uncollectibles): Delinquent property tax 0 1,056 0 0 0 Accounts 297,257 23,804 4,141 0 0 Due from other county funds 0 0 0 10,856 140,856 Prepaid expenses 69,109 0 0 0 35,000 Land 0 0 0 0 498,542 Buildings 0 0 0 0 1,285,597 Accumulated depreciation 0 0 0 0 (15,850) TOTAL ASSETS $ 22,559,993 $ 2,833,397 8 671,809 $ 10,856 $ 2,287,356 LIABILITIES AND FUND BALANCE LIABILITIES: Accounts payable S 81,866 $ 21,986 $ 272,036 $ 10,856 $ 185,816 Accrued liabilities 0 0 55,645 0 0 Due to other governments 0 0 0 0 0 Due to other county funds 500 0 71 0 60,640 Deferred revenue 0 1,056 0 0 0 Certificates of participation 0 0 0 0 2,000,000 Deferred compensation payable 0 0 0 0 0 Total Liabilities 82,366 23,042 327,752 10,856 2,246,456 FUND BALANCE: Reserve for encumbrances 0 0 0 0 0 Reserve for employee benefits 18,163,945 0 0 0 0 Fund balance - undesignated 4,313,682 2,810,355 344,057 0 40,900 Total Fund Balance 22,477,627 2,810,355 344,057 0 40,900 TOTAL LIABILITIES AND FUND BALANCE 8 22,559,993 8 2,833,397 $ 671,809 $ 10 856 $ 2,287,356 -98- 890572 Agency General Payroll Deferred Emergency Agency Agency Compensation Telephone December 31 December 31 Fund Fund Fund Service 1988 1987 $ 2,470,850 $ 447,796 $ 0 $ 74,240 $ 6,957,651 $ 7,399,752 0 0 0 0 800,581 127,395 0 0 848,192 0 22,095,889 20,532,162 0 0 0 0 1,056 1,965 0 0 0 0 325,202 264,448 0 786 0 481 152,979 4,898 0 0 0 0 104,109 58,770 0 0 0 0 498,542 0 0 0 0 0 1,285,597 317,000 0 0 0 0 (15,850) 0 $ 2,470,850 $ 448,582 $ 848,192 $ 74,721 $ 32,205 756 $ 28,706,390 $ 0 $ 448,001 $ 0 $ 0 $ 1,020,561 $ 557,075 0 0 0 0 55,645 181,081 2,470,164 0 0 74,721 2,544,885 3,143,978 686 581 0 0 62,478 8,702 0 0 0 0 1,056 1,965 0 0 0 0 2,000,000 317,000 0 0 848,192 0 848,192 663,105 2,470,850 448,582 848,192 74,721 6,532,817 4,872,906 0 0 0 0 0 60 0 0 0 0 18,163,945 20,121,007 0 0 0 0 7,508,994 3,712,417 0 0 0 0 25,672,939 23,833,484 $ 2 47[1,850 $ 448, 582 $ 8�8 192 $ 74,721 $ 32,205756 $ 28,706,390 , -99- 890572 COUNTY OF WELD STATE OF COLORADO TRUST AND AGENCY FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL PENSION TRUST FUNDS December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 Weld County Retirement Fund 1988 1987 OPERATING REVENUES: Earnings on investments $ 1,407,371 $ 1,844,039 Appreciation - depreciation on fair market value 289,809 (2,369,532) Contributions • C1,738,809 1,675,355 Total Operating Revenue 3,435,989 1,149,862 OPERATING EXPENSES: Benefit payments 756,332 602,568 Refunds 356,800 230,810 Audit fees 500 1,140 Actuarial fees 55,131 24,789 Trustee fees 90,390 70,896 Other expenses 28,240 11,634 Total Operating Expenses 1,287,393 941,837 NET INCOME 2,148,596 208,025 FUND BALANCE AT BEGINNING OF YEAR 20,329,031 20,121,006 FUND BALANCE AT END OF YEAR $ 22 477627 $ 20,329,031 —100— 890572 COUNTY OF WELD STATE OF COLORADO TRUST AND AGENCY FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL EXPENDABLE TRUST FUNDS December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 North Colorado Health Employee Medical Center Insurance Flexible December 31 December 31 Trust Fund Fund Spending 1988 1987 REVENUES: Taxes $ (1,160) $ 0 $ 0 $ (1,160) $ 2,377 Earnings on investments 196,690 39,358 0 236,048 355,154 Miscellaneous 0 1,046,687 177,226 1,223,913 1,050,014 Total Operating Revenue 195,530 1,086,045 177,226 1,458,801 1,407,545 EXPENDITURES: Public works 0 0 269 269 0 Contractual services 0 129,151 0 129,151 129,767 Supplies 0 585 0 585 11,371 Claims 0 1,256,535 0 1,256,535 1,152,770 Other 245,345 0 176,957 422,302 1,835,805 Total Expenditures 245,345 1,386,271 177,226 1,808,842 3,120,713 EXCESS EXPENDITURES OVER REVENUES (49,815) (300,226) 0 (350,041) (1,713,168) FUND BALANCE AT BEGINNING OF YEAR 2,860,170 644,283 0 3,504,453 5,217,621 FUND BALANCE AT END OF YEAR $ 22,810 355 $ 344,057 $ 0 $ 3,154,412 $ 3,504,453 -101- 890572 COUNTY OF WELD STATE OF COLORADO TRUST AND AGENCY FUNDS HEALTH INSURANCE FUND Schedule of Revenues Compared with Estimate December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual MISCELLANEOUS REVENUE: Contributions $ 880,200 $ 924,783 $ 44,583 $ 883,848 Cobra 11,000 10,848 (152) 15,060 Recovery of losses 110,000 111,056 1,056 25,301 Total Miscellaneous revenue 1,001,200 1,046,687 45,487 924,209 EARNINGS ON INVESTMENTS: Interest 0 0 0 455 Earnings on deposit 55,000 39,358 (15,642) 64,344 Total Earnings on investments 55,000 39,358 (15,642) 64,799 TOTAL REVENUE $ 1,056,200 S 1,086,045 $ 29 845 $S008 Schedule of Expenditures Compared with Budget December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1988 1988 1987 Estimate Actual Variance Actual CONTRACTUAL SERVICES: Other $ 58,000 $ 129,151 $ (71,151) $ 120,767 SUPPLIES: Other 4,060 585 3,475 11,371 INSURANCE AND BONDS: Other 61,000 0 61,000 0 CLAIMS: Other 1,270,000 1,256,535 13,465 1,152,770 TOTAL EXPENDITURES $ 1 393 060 $ 1,386,271 $ 6 789 $ 1,284,908 io2- 890572 COUNTY OF WELD STATE OF COLORADO TRUST AND AGENCY FUNDS EMPLOYEE BENEFIT FUND Schedule of Revenues December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1987 Actual Actual MISCELLANEOUS REVENUE: Other $ 177,226 $ 125,805 TOTAL REVENUE $ 177.226 $ 125 805 Schedule of Expenditures December 31, 1988 With Comparative Actual Amounts For Year Ended December 31, 1987 1988 1987 Actual Actual PUBLIC WORKS: Administration $ 269 $ 0 OTHER EXPENSES: Office of the Board 3,170 2,700 County Attorney 3,745 2,580 Planning and zoning 9,369 8,398 County Clerk 4,528 1,100 County Treasurer 10,042 3,000 County Assessor 2,706 991 Maint of buildings/grounds 2,838 2,520 District Attorney 5,393 3,700 Juvenile Diversion Grant 6,172 4,380 Victim Assistance 3,431 0 Financial administration 2,208 3,120 General accounting 3,468 2,580 Purchasing 2,629 900 Personnel 4,784 3,390 Data Processing 22,566 12,873 Sheriff administration 3,937 2,886 Crime control and invest 4,720 4,401 Communications Services 109 965 Ambulance services 5,940 2,956 Correctional administration 13,879 . 8,120 Delinquents & other instit 0 875 Pest/weed control 1,200 780 Maintenance of condition 180 134 Maintenance support 230 1,080 General engineering 768 624 Extension service 444 0 Public health administration 960 1,200 Nursing 8,283 11,790 Environmental Health 0 300 Administrative - regular 29,552 25,093 Administrative - IV-D 0 220 Administrative - LEAP 240 480 Library administration 140 800 Gen admin allocation 6,460 5,040 EODS allocation 735 2,400 Non-EODS allocation 2,270 1,596 Other 9,861 1,833 Total Other expenses 176,957 125,805 TOTAL EXPENSES $ 177.226 $ 125 805 -103- 890572 COUNTY OF WELD STATE OF COLORADO TRUST AND AGENCY FUNDS NONEXPENDABLE TRUST FUND Schedule of Revenues, Expenditures and Changes in Fund Balance Weld Finance Corporation REVENUES: Taxes 8 0 Earnings on investments 39,755 Miscellaneous 97,738 Total Operating Revenue $ 137,493 OPERATING EXPENSES: Public works $ 0 Debt service 80,743 Contractual services 0 Supplies 0 Claims Other 0 0 Depreciation expense 15,850 Total Operating Expenditures $ 96,593 NET INCOME 40,900 FUND BALANCE AT BEGINNING OF YEAR 0 FUND BALANCE AT END OF YEAR $ 40,900 890572 -104- COUNTY OF WELD STATE OF COLORADO COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES ALL AGENCY FUNDS December 31, 1988 Balance Balance 1/1/88 Additions Deductions 12/31/88 GENERAL AGENCY FUND ASSETS: Cash $ 3,143,978 $80,474,535 $81,147,663 $ 2,470,850 LIABILITIES: Due to other governmental units $ 3,143,978 $80,474,535 $81,147,663 $ 2,470,850 PAYROLL AGENCY FUND ASSETS: Cash and receivables $ 426,624 $17,243,949 $17,221,991 $ 448,582 LIABILITIES: Accounts payable and due to other county funds $ 426,624 $17,243,949 $17,221,991 $ 448,582 DEFERRED COMPENSATION FUND ASSETS: Investments $ 663,105 $ 435,074 $ 249,987 $ 848,192 LIABILITIES: Deferred Compensation Payable $ 663,105 $ 435,074 $ 249,987 $ 848,192 EMERGENCY TELEPHONE SERVICE ASSETS: Cash and due to other county funds $ 0 $ 74,240 $ 0 $ 74,240 LIABILITIES: Due to other governments $ 0 $ 74,240 $ 0 $ 74,240 TOTAL - ALL AGENCY FUNDS TOTAL ASSETS $ 4,233.707 $98.153.558 $98.619 641 $ 3.841,846 TOTAL LIABILITIES $ 4,233.707 $98.153,558 $98.619,641 $ 3 841,846 -105- 890572 COLORADO -106- ENERAL FIXED ASS T ACCOUNT GROUP Investments ii: property and equipment, except for those of the Internal Service Funds, are recorded in this account group. gift COLORADO 09572 COUNTY OF WELD STATE OF COLORADO COUNTY OF WELD STATE OF COLORADO GENERAL FIXED ASSETS SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCE December 31, 1988 and 1987 1988 1987 GENERAL FIXED ASSETS: Land $ 2,635,946 $ 2,095,212 Buildings 18,300,758 18,111,653 Improvements other than buildings 359,908 230,920 Machinery and equipment 3,651,241 3,539,923 Construction in progress 251,836 0 TOTAL ASSETS $ 25.199,689 $ 23,977,708 INVESTMENTS IN GENERAL FIXED ASSETS FROM: Current Revenue $ 16,054,245 $ 14,911,107 Gifts and Grants 1,196,329 1,117,486 Federal Revenue Sharing 7,949,115 7,949,115 TOTAL INVESTMENTS IN GENERAL FIXED ASSETS $ 25,199,689 $ 23.977,708 -107- 890572 COUNTY OF WELD - STATE OF COLORADO COUNTY OF WELD STATE OF COLORADO GENERAL FIXED ASSETS SCHEDULE OF GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY December 31, 1988 and 1987 Land Equipment 8 Construction Totals Land Improvements Buildings Furniture In Progress 1988 1987 GENERAL GOVERNMENT: County Commissioners $ 0 $ 0 $ 0 $ 17,356 $ 0 $ 17,356 $ 18,785 County Attorney 0 0 0 14,032 0 14,032 13,259 Planning and zoning 0 0 0 22,922 0 22,922 20,788 General accounting 0 0 0 15,156 0 15,156 14,643 Financial administration 0 0 0 10,817 0 10,817 13,160 County Clerk 0 0 0 380,646 0 380,646 366,105 Elections and registration 0 0 0 33,602 0 33,602 32,254 County Treasurer 0 0 0 33,921 0 33,921 42,630 County Assessor 0 0 0 68,542 0 68,542 71,805 County Council 0 0 0 2,334 0 2,334 3,022 Personnel 0 0 0 9,282 0 9,282 9,719 Maintenance of buildings 0 0 0 62,688 0 62,688 54,743 Communications Services 0 0 0 507,606 0 507,606 536,657 Purchasing 0 0 0 9,863 0 9,863 12,592 Other 0 0 0 115,191 0 115,191 84,318 Buildings 2,243,638 127,552 15,176,910 278,050 251,836 18,077,986 16,925,915 TOTAL GENERAL GOVERNMENT: 2,243,638 127,552 15,176,910 1,582,008 251,836 19,381,944 18,220,395 JUDICIAL: District Attorney 0 0 0 73,116 0 73,116 77,809 PUBLIC SAFETY: Sheriff administration 0 0 0 315,514 0 315,514 302,971 County Coroner 0 0 0 618 0 618 618 Building inspection 0 0 0 3,336 0 3,336 3,812 Office of Emergency Management 0 0 0 43,155 0 43,155 43,155 TOTAL PUBLIC SAFETY: 0 0 0 362,623 0 362,623 350,556 HEALTH AND HOSPITALS: Health 162,369 15,068 134,344 202,043 0 513,824 512,071 Ambulance services 0 5,465 118,599 6,308 0 130,372 130,572 TOTAL HEALTH 8 HOSPITALS: 162,369 20,533 252,943 208,351 0 644,196 642,643 COUNTY ROADS AND HIGHWAYS: Highways and streets 0 11.668 0 82,513 0 94,181 94,558 PUBLIC WELFARE: Public welfare-s. s. 170,318 9,088 746,372 248,671 0 1,174,449 1,171,533 AUXILIARY SERVICES: Extension service 200 0 770,575 29,426 0 800,201 814,945 Exhibition building 0 91,071 224,749 18,339 0 334,159 301,239 Veterans office 0 0 0 10,402 0 10,402 10,402 Missile site park 0 91,310 0 52,330 0 143,640 163,624 Delinquents & other institutions 0 0 48,812 6,977 0 55,789 55,789 Crime control and investigation 0 0 1,440 0 0 1,440 1,440 Libraries 19,207 7,020 1,024,779 192,500 0 1,243,506 1,236,473 Human Resources 40,214 1,666 54,178 774,203 0 870,261 828,063 General administration 0 0 0 9,782 0 9,782 8,239 TOTAL AUXILIARY SERVICES: 59,621 191,067 2,124,533 1,093,959 0 3,469,180 3,420,214 TOTAL GENERAL FIXED ASSETS ALLOCATED TO FUNCTIONS $ 2,635,946 $ 359.908 $ 18.300,758 3.651,241 $ 251,836 $ 25,199,689 $ 23,977,708 -108- 890572 COUNTY OF WELD STATE OF COLORADO COUNTY OF WELD STATE OF COLORADO GENERAL FIXED ASSETS SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY December 31, 1988 and 1987 General General Fixed Assets Fixed Assets 12/31/87 Additions Deletions 12/31/88 GENERAL GOVERNMENT: County Commissioners $ 18,785 $ 146 $ 1,575 $ 17,356 County Attorney 13,259 773 0 14,032 Planning and zoning 20,788 3,730 1,596 22,922 General accounting 14,643 1,506 993 15,156 Financial administration 13,160 1,047 3,390 10,817 County Clerk 366,105 24,567 10,026 380,646 Elections and registration 32,254 2,158 810 33,602 County Treasurer 42,630 1,283 9,992 33,921 County Assessor 71,805 7,238 10,501 68,542 County Council 3,022 710 1,398 2,334 Personnel 9,719 722 1,159 9,282 Maintenance of buildings/grounds 54,743 11,019 3,074 62,688 Communications Services 536,657 506,606 535,657 507,606 Purchasing 12,592 199 2,928 9,863 Other 84,318 37,095 6,222 115,191 Buildings 16,925,915 1,153,101 1,030 18,077,986 TOTAL GENERAL GOVERNMENT: 18,220,395 1,751,900 590,351 19,381,944 JUDICIAL: District Attorney 77,809 1,075 5,768 73,116 PUBLIC SAFETY: Sheriff administration 302,971 65,593 53,050 315,514 County Coroner 618 0 0 618 Building inspection 3,812 0 476 3,336 Office of Emergency Management 43,155 0 0 43,155 TOTAL PUBLIC SAFETY: 350,556 65,593 53,526 362,623 HEALTH AND HOSPITALS: Health 512,071 7,423 5,670 513,824 Ambulance services 130,572 0 200 130,372 TOTAL HEALTH AND HOSPITALS: 642,643 7,423 5,870 644,196 COUNTY ROADS AND HIGHWAYS: Highways and streets 94,558 3,581 3,958 94,181 PUBLIC WELFARE: Public welfare (social services) 1,171,533 6,712 3,796 1,174,449 AUXILIARY SERVICES: Extension service 814,945 2,749 17,493 800,201 Exhibition building 301,239 32,920 0 334,159 Veterans office 10,402 0 0 10,402 Missile site park 163,624 17,016 37,000 143,640 Delinquents 8 other institutions 55,789 0 0 55,789 Crime control and investigation 1,440 0 0 1,440 Libraries 1,236,473 16,057 9,024 1,243,507 Human Resources 828,063 80,284 38,086 870,261 General administration 8,239 1,543 0 9,782 TOTAL AUXILIARY SERVICES: 3.420,214 150,569 101,603 3,469,180 TOTAL GENERAL FIXED ASSETS ALLOCATED TO FUNCTIONS $ 23,977,708 $ 1,986,853 $ 764,872 $ 25,199,689 -109- 890572 Arpz: wine COLORADO -110- GENERAL LONG- TERM DEBT ACCOUNT GROUP Sick and vacation accrual for Governmental Fund types are recorded in this fund. if/ icii , mole COLORADO 890.572 COUNTY OF WELD STATE OF COLORADO GENERAL LONG-TERM DEBT - BY SOURCE December 31, 1988 and 1987 1988 1987 AMOUNT TO BE PROVIDED 8 1,747,347 $ 1,215,630 LIABILITIES: Bonds payable 8 600,000 $ 0 General long term debt/vacation and sick 1,020,234 1,055,297 General long term debt/phone system 127,113 160,333 Total Long Term Debt S 1.747,347 $ 1,215,630 890572 COLORADO STATISTICAL SECTION WI`'P c. COLORADO 8390572 :IRD WII'Dc. COLORADO -113- &90572. COUNTY OF WELD STATE OF COLORADO General Governmental Expenditures by Function (Unaudited) Last Ten Years County Public General Public Roads & Health & Year Government Safety Highways Welfare 1979 $ 4,709,301 $ 2,808,358 $ 6,157,485 $10,775,974 1980 $ 5,203,105 $ 3,150,728 $ 7,436,150 $12,436,419 1981 $ 5,403,963 $ 3,525,539 $ 6,811,742 $13,783,902 1982 $ 5,400,021 $ 5,229,851 $ 6,997,923 $12,875,917 1983 $ 5,725,137 $ 5,575,881 $ 7,716,877 $13,961,545 1984 $ 6,082,536 $ 6,294,660 $ 8,136,114 $13,799,706 1985 $ 6,120,744 $ 7,283,096 $ 8,547,979 $13,748,609 1986 $ 6,516,851 $ 7,272,935 $ 8,505,739 $14,660,502 1987 $ 6,819,165 $ 6,924,599 $ 9,876,346 $14,789,034 1988 $ 7,251,985 $ 7,869,950 $ 8,292,283 $20,156,719 General Revenue by Source (Unaudited) Last Ten Years Licenses Intergovernmental Year Taxes and Permits Revenue 1979 $ 11,288,778 $ 196,545 $ 14,280,094 1980 $ 12,025,910 $ 383,881 $ 18,664,253 1981 $ 12,947,563 $ 400,670 $ 20,283,181 1982 $ 13,166,821 $ 463,542 $ 17,204,249 1983 $ 14,467,200 $ 635,645 $ 18,679,901 1984 $ 15,932,964 $ 669,934 $ 19,284,616 1985 $ 16,308,828 $ 716,130 $ 19,890,173 1986 $ 17,888,662 $ 581,360 $ 20,720,989 1987 $ 18,846,835 $ 613,026 $ 20,789,309 1988 $ 19,614,179 $ 575,744 $ 27,359,869 1 -114- 890572 Auxiliary Debt Intragovernmental Total Services** Capital Outlay Service Expenditures Miscellaneous Expenditures $ 3,692,883 $ 805,092 $ * $ 169,316 $ -0- $ 29,118,409 S 5,926,461 $ 344,889 $ * $ 118,498 $ -0- $ 34,616,250 $ 6,287,607 $ 591,188 $ * $ 83,594 $ -0- $ 36,487,535 S 3,709,018 $ 485,735 S * $ 375,305 $ 338,637 S 35,412,407 $ 3,856,846 $ 379,684 $ 2,274 $ 431,789 $ 685,246 $ 38,335,279 $ 3,954,896 $ 1,347,365 $1,018,741 $ 415,102 $ 1,074,232 $ 42,123,352 $ 4,596,197 S 1,515,560 $ 88,500 $ 465,517 $ 1,647,115 $ 44,013,317 $ 4,234,193 $ 1,397,988 $ 252,753 $ 488,119 $ 1,401,846 $ 44,730,926 $ 4,735,582 $ 1,637,272 $ 200,263 $ 594,982 $ 3,550,550 $ 49,127,728 S 6,261,841 $ 3,740,305 $ 242,953 $ 720,201 $ 2,251,269 $ 56,787,506 * Information not available. **Auxiliary Services includes culture and recreation, conservation of natural resources, and economic assistance. General governmental expenditures include expenditures of General, Special Revenue, Capital Projects Funds, and Expendable Trust Funds. Charges for Fines and Miscellaneous Fee Services Forfeits Revenue Accounts Total Revenue $ 1,159,849 $ 3,018 $ 2,277,170 $ -0- $ 29,205,454 $ 1,974,601 $ 3,064 $ 2,089,689 $ -0- $ 35,141,398 $ 1,931,937 $ 3,108 $ 2,951,603 S -0- $ 38,518,062 S 1,151,453 $ 6,792 $ 2,995,740 $ 1,160,740 $ 36,149,337 S 1,406,359 $ 26,667 $ 2,543,940 S 1,305,116 $ 39,064,828 $ 1,541,520 $ 37,592 $ 3,948,342 $ 1,533,455 $ 42,948,423 $ 1,673,283 S 78,261 $ 3,756,703 $ 1,631,937 $ 44,055,315 $ 1,742,650 $ 67,198 $ 3,775,144 $ 1,680,356 $ 46,456,359 $ 1,149,717 $ 76,465 $ 5,915,868 $ 1,711,894 $ 49,103,114 . $ 1,632,229 $ 35,469 $ 5,552,233 $ 1,693,026 $ 56,462,749 General revenue includes revenue of General, Special Revenue, Capital Projects and Special Assessment Funds. 890572 —115— COUNTY OF WELD — STATE OF COLORADO Property Value, Construction, Bank Deposits and Other Economic Indicators (Unaudited) Last Ten Years 1980 1983 1984 1985 1986 1987 1988 Property Value - estimated actual value (millions) $ 2,948.7 $ 2,963.7 $ 3,158.7 $ 3,393.9 $ 3,150.7 S 4,228.5 $ 4,560.4 Building Permits 1,241 2,699 2,450 2,519 2,113 2,131 1,836 Estimated Construction (millions) $ 23.8 $ 13.0 * * * * $ 30.196 Bank Deposits (millions) S , 524.5 $ 664.5 * $ 9,854.2 Retail Sales (millions) S 781.3 S 1,023.0 $ 1,022.9 S 1,118.0 $ 1,044.1 Value of Crop Production (millions) $ 185.0 $ 184.6 S 284.5 $ 191.0 Other years' data not available * Information not available. 116- 890572 2 COUNTY OF WELD STATE OF COLORADO Property Tax Levies and Collections (Unaudited) Last Ten Years Total Total Current Percent Delinquent Total Outstanding Original Tax Tax of Levy Tax Tax Delinquent Year Levy Collections Collected Collections Collections Taxes 1979 $ 11,144,614 $ 11,101,916 99.62 $ 27,699 $ 11,129,615 $ 66,715 1980 $ 11,708,099 $ 11,660,552 99.59 $ 42,189 $ 11,702,741 $ 70,795 1981 $ 12,622,216 S 12,596,620 99.68 $ 39,303 $ 12,635,923 $ 52,053 1982 $ 13,252,865 $ 13,169,249 99.37 $ 81,490 $ 13,250,739 $ 69,656 1983 $ 14,399,734 $ 14,307,719 99.36 $ 97,625 $ 14,405,344 $154,546 1984 $ 15,119,720 $ 14,985,503 99.11 $131,428 $ 15,116,931 $212,504 1985 S 15,875,706 S 15,469,833 97.44 $ 28,931 $ 15,498,764 $307,203 1986 $ 17,147,925 $ 17,013,025 99.20 $ 84,065 $ 17,097,090 $404,559 1987 $ 18,005,273 $ 17,756,037 98.60 $296,802 $ 18,052,839 $439,749 1988 $ 18,931,528 $ 18,506,143 97.75 $ 66,022 $ 18,572,165 $376,500 Assessed and Estimated Actual Value of Taxable Property (Unaudited) Last Ten Years Real Property (1) Personal Property (2) Total Assessed Estimated Assessed Estimated Assessed Estimated Year Value Actual Value Value Actual Value Value Actual Value 1979 $ 497,514,340 $1,658,381,133 $ 165,480,900 S 1,103,206,000 $ 662,995,240 $2,761,587,133 1980 $ 507,497,890 $1,691,659,633 $ 169,787,590 $ 1,131,917,266 $ 677,285,480 $2,823,576,899 1981 $ 555,820,990 $1,852,736,633 $ 176,028,980 $ 1,173,526,533 $ 731,849,970 $3,026,263,166 1982 $ 685,414,640 $2,284,715,466 $ 86,357,130 $ 713,785,433 S 771,771,770 $2,998,500,899 1983 $ 778,637,950 $2,647,089,025 $ 91,815,550 $ 316,605,345 $ 870,453,500 $2,963,694,370 1984 $ 764,916,130 $2,966,160,645 $ 55,831,700 $ 192,523,103 $ 820,747,830 $3,158,683,748 1985 $ 819,535,750 $3,162,758,743 $ 67,028,500 $ 231,132,759 $ 886,564,250 $3,393,891,502 1986 $ 836,455,500 $2,908,836,701 $ 70,154,400 $ 241,911,724 S 906,609,900 $3,150,748,425 1987 $ 899,649,790 $3,945,488,938 $ 82,078,810 $ 283,030,379 $ 981,728,600 $4,228,519,317 1988 $ 876,322,790 $4,260,083,960 $ 87,082,300 $ 300,283,793 $ 963,405,090 $4,560,367,753 (1) Residential improved land and improvements at 15% of 1983 replacement cost, as determined by State law. (2) Commercial improved land and improvements at 29% of 1983 replacement cost, as determined by State law. -117- 890572 - COUNTY OF WELD - STATE OF COLORADO Property Tax Rates and Tax Levies - All Overlapping Governments (Unaudited) Last Ten Years Levy Collection School Junior Year Year Cities Districts County College Other Total Tax Rates 1978 1979 413.800 920.32 16.780 3.46 134.660 1,489.020 1979 1980 423.990 978.12 17.247 3.93 144.769 1,568.056 1980 1981 439.790 908.51 17.247 4.11 147.517 1,517.174 1981 1982 460.900 883.48 17.172 4.11 154.620 1,520.282 1982 1983 461.220 866.16 17.172 4.292 151.450 1,500.294 1983 1984 490.320 880.14 17.369 4.581 161.059 1,553.469 1984 1985 542.320 918.63 19.342 5.037 171.923 1,657.252 1985 1986 537.259 977.76 19.342 4.981 164.277 1,703.610 1986 1987 571.268 953.48 19.968 5.198 203.204 1,753.118 1987 1988 391.248 722.89 17.208 4.542 204.292 1,340.180 Tax Levies 1978 1979 $2,481,327 $27,770,414 $11,125,060 $1,988,606 $2,596,647 $45,962,054 1979 1980 $2,921,316 $29,216,839 $11,681,142 $2,317,544 $2,519,126 $48,655,967 1980 1981 $3,285,870 $32,572,132 $12,622,216 $2,622,812 $2,867,436 $53,970,466 1981 1982 $3,839,640 $35,181,714 $13,252,865 $2,737,134 $3,249,326 $58,260,679 1982 1983 $4,016,593 $37,913,573 $14,399,734 $3,686,486 $3,769,629 $63,786,015 1983 1984 $4,125,777 $41,076,321 $15,118,907 $3,458,802 $3,960,714 $67,740,521 1984 1985 $4,210,650 $42,366,353 $15,874,905 $3,631,540 $3,942,837 $70,026,285 1985 1986 $4,551,381 $48,835,173 $17,147,925 $3,918,961 $5,736,561 $80,190,001 1986 1987 $4,744,921 $52,125,601 $18,103,186 $4,232,066 $6,196,320 $85,402,094 1987 1988 $4,895,718 $46,369,646 $18,931,528 $4,507,157 $6,626,435 $81,330,484 The basis for the property tax rates is per $1,000 assessed valuation. -118- 890572 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 1981* -0- -0- 100% $ 27,885 1982 S 13,531 S 13,531 100% $ 14,354 1983 $ 4,098 8 4,098 100% $ 10,256 1984 $ 1,282 $ 1,282 100% $ 8,974 1985** $ 2,236 $ 2,236 100% $1,081,738 1986*** $ 102,009 $102,009 100% $1,006,759 1987**** $ 111,543 $111,543 100% 8 902,272 1988***** $ 112,847 $112,847 100% $ 789,764 NOTES: * Weld County had no special assessments from 1973 - 1980, in 1981 Elmore Road Special Assessment of $27,885. ** Road 5 Special Assessment of $1,075,000. *** Antelope Hills Special Assessment of $27,030. **** Indianhead Special Assessment of $7,056. ***** Northmoor Special Assessment of $94,272.31. 890572 -119- COUNTY OF WELD - STATE OF COLORADO Computation of Legal Debt Margin (Unaudited) December 31, 1988 Assessed Value, 1987 $1,100,158,530 Debt Limit 3 Percent of Assessed Value 33,004,756 Amount of Debt Applicable to Limit: Total Bonded Debt $ 0 Installment Purchase Agreements 0 Total Amount of Debt Applicable to 0 Debt Limit Legal Debt Margin $ 33,004,756 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 assessed valuation of all taxable property. Tables Relating to Bonded Debt (Unaudited) December 31, 1988 Weld County is without bonded debt and 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 -120- 890572 COUNTY OF WELD STATE OF COLORADO DEMOGRAPHIC STATISTICS (Unaudited) December 31, 1988 1. Population: 1960 - 72,344 1970 - 89,297 1975 - 111,901 1980 - 123,438 1983 - 132,513 1984 - 131,746 1985 - 133,922 1986 - 139,947 1988 - 145,312 2. Estimated Median Age: 26.7 (1980 Census) 28.5 (1983) 26.7 (1984) 27.8 (1985) 3. Total Personal Income For Years Available: 1970 - $ 279,766,000 1971 - $ 327,463,000 1972 - $ 380,534,000 1973 - $ 481,301,000 1974 - $ 539,833,000 1975 - $ 597,099,000 1980 - $1,059,311,000 1982 - $1,317,000,000 1984 - $1,317,329,000 4. Per Capita Income For Years Available: 1971 - $ 3,527 1972 - $ 3,891 1973 - $ 4,666 1974 - $ 5,054 1975 - $ 5,543 1977 - $ 5,081 1980 - $ 6,505 1982 - $10,411 1984 - $11,501 5. Median Family Income $15,805 (1980 Census) $22,921 (1983) $21,286 (1984) 6. Population Per Household 1970 - 3.09 1980 - 2.79 1983 - 2.75 1984 - 2.79 7. Housing Units 1970 - 28,896 1980 - 46,475 1983 - 46,059 1984 - 49,538 Source: Greeley Area Chamber of Commerce Survey and U.S. Census data. -121- 890572 COUNTY OF WELD STATE OF COLORADO Principal Taxpayers (Unaudited) December 31, 1988 Per Cent 1988 Of Total Assessed Assessed Valuation Valuation Eastman Kodak Company $ 64,270,660 5.842% Amoco Production Company 52,103,000 4.736% Public Service Company of Colorado 27,978,000 2.543% Snyder Oil Co. 17,105,820 1.555% Union Pacific Land Resource 15,000,490 1.363% Basin Exploration 13,650,420 1.241% Mountain States Telephone 13,222,100 1.202% Gerrity Robert W Company 11,812,220 1.074% Diversified Operating Corporation 10,682,970 0.971% Panhandle Eastern Pipeline Company 10,114,000 0.919% $235,939.680 21.446% 1390S72 -122- COUNTY OF WELD STATE OF COLORADO Miscellaneous Statistics (Unaudited) December 31, 1988 1. Date of Incorporation: 1861 2. Form of Government: Home Rule Charter 3. Date Present Charter Adopted January 1, 1976 4. Area - Square Miles: 4,004 square miles 5. County Seat: City of Greeley 6. Employees as of December 31, 1988 Elected Officials - 10 Division Heads - 4 Department Heads - 11 Employees with Benefits - 788 Employees without Benefits - 228 7. Miles of Roads: Paved - 560.27 Unpaved - 2,778.13 8. Building Permits: No. of Year Permits Valuation 1979 1,592 $ 34,782,283 1980 1,348 $ 54,775,497 1981 1,241 $ 32,851,694 1982 1,865 $ 35,207,497 1983 2,699 $ 51,480,002 1984 2,450 $ 44,854,598 1985 2,519 $ 37,423,180 1986 2,113 S 34,964,831 1987 2,131 S 36,787,917 1988 1,836 $ 30,195,777 9. Motor Vehicle Registration: 1979 - 133,437 1980 - 125,970 1981 - 129,159 1982 - 130,952 1983 - 132,458 1984 - 139,521 1985 - 136,444 1986 - 142,204 1987 - 140,445 1988 - 139,743 10. Special Districts within County: 28 - Cities and Towns 17 - Schools 23 - Fire 18 - Water 8 Other 2 - Colleges 13 - Sanitation 11. Cities and Towns: Ault Gilcrest Lochbuie Brighton Greeley Mead Dacono Grover Milliken Eaton Hudson New Raymer Erie Johnstown Nunn Evans Keenesburg Pierce Firestone Keota Platteville Frederick Kersey Severance Ft. Lupton LaSalle Windsor Garden City 12. Recreation: Golf Courses - 5 City and Regional Parks Island Grove Recreational Complex Greeley Recreation Center -123- 890572 COUNTY OF WELD STATE OF COLORADO Miscellaneous Statistics - Continued (Unaudited) December 31, 1988 13. Libraries: Ault Town Library 2,383 Volumes Eaton Library 7,809 Volumes Glenn A. Jones Library 14,000 Volumes Greeley Library 126,142 Volumes Platteville Library 8,964 Volumes University of No. Colo. 755,519 Volumes Weld Library District 180,032 Volumes Windsor Public Library 30,000 Volumes 14. Elections: Number of Number Percent of Registered of Votes Registered Voters Cast Voters Voting 1974 General Election 45,175 30,002 66.4 1976 General Election 49,785 41,184 82.7 1978 General Election 47,832 29,818 62.3 1980 General Election 51,107 44,134 86.3 1982 General Election 51,476 36,301 70.5 1984 General Election 56,311 47,632 84.6 1986 General Election 62,725 38,488 61.1 1988 General Election 70,325 50,209 71.4 15. Media Newspapers: The Greeley Tribune The Banner Town & Country News Aims College World The Mirror (UNC) North Weld Herald Farmer & Miner Keene Valley Sun - Johnstown Breeze Ft. Lupton Press Platteville Herald Windsor Beacon Brighton Blade and Market Place Erie Echo Ft. Morgan Times LaSalle Leader Longmont Times Call Platte Valley Voice Evans Star Press The Centennial News Radio Stations: KFKA/KGBS KATR KYOU/KGRE KIMN FM KUAD AM & FM KVVS 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, 1987: State - 3% Source: County offices. 890572 -124- COUNTY OF WELD STATE OF COLORADO Insurance In Force (Unaudited) December 31, 1988 Policy Period Details of Annual Name of Company Policy Number Begins Expires Coverage Liability Limits Premiums General Re-insurance Corp. (County Workers' Compen- sation Pool) XD-008 1/15/88 12/31/88 Excess Worker's Employer's Liability Casualty Corp. Compensation $1,000,000/Accident Workers Compensation Statutory Limits with Pool Retaining First $250,000 each claim Zurich Insurance BM31-93-524-02 1/1/88 1/1/89 Boiler and $10,000,000/Accident Company Machinery $1,000 Deductible $ 2,933 Virginia Surety Company 144JA0524 7/1/88 6/30/89 Property Damage, Property: $50,000,000/ (Colorado Automobile Occurrence Counties Liability, All Liability: $150,000/ Casualty & General Liability, Person: $500,000/Claim Property Pool) Public Officials Excess Liability: (Federal Liability, Crime and Out-of-State Only) $850,000/Person Excess $150,000; $600,000/Claim Excess $40,000 Crime: $150,000/Loss $500 Deductible/ Property Claim 890572 2 -125- COUNTY OF WELD STATE OF COLORADO Salaries of Principal Officials (Unaudited) December 31, 1988 ELECTED OFFICIALS: Commissioners $ 28,000 Clerk & Recorder $ 28,000 Treasurer 8 28,000 Assessor $ 28,000 Sheriff $ 30,000 District Attorney 8 70,000 APPOINTED: County Attorney 8 70,345 Director of Planning 8 39,881 Director of finance and Administration $ 77,632 Director of Building and Grounds $ 42,950 Director of Ambulance Services 8 38,899 County Engineer 8 49,799 Director of Social Services $ 57,754 Director of Health Department $ 70,980 Director of Hunan Resources 8 51,052 Director of Communication Services $ 40,000 Director of Purchasing $ 36,143 Director of Personnel $ 45,122 Comptroller 8 47,398 Director of Emergency Management 8 24,972 Director of Road and Bridge 8 49,799 Director of Computer Services $ 59,195 Surety Bond Coverage for Principal Officials (Unaudited) December 31, 1988 District Attorney 8 5,000 Commissioner $ 25,000 Treasurer 8 250,000 Sheriff $ 20,000 Assessor $ 6,000 Coroner $ 5,000 County Clerk $ 25,000 County Clerk (Titles & Deeds) $ 5,000 Director of Finance and 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- 890572 COUNTY OF WELD STATE OF COLORADO PRIVATE PURPOSE REVENUE BONDS (Unaudited) As of December 31, 1988 DEBT REVENUE BONDS TYPE OF ISSUE OUTSTANDING OUTSTANDING ISSUER FACILITY AMOUNT DATE BEGINNING YEAR ISSUED RETIRED END OF YEAR INDUSTRIAL REVENUE BONDS: Evangelical Lutheran Good Samaritan Soc. Nursing Home $1,400,000 11/79 $ 1,000,000.00 $ -0- $ 65,000.00 $ 935,000.00 Colorado Landfill, Inc. Landfill 1,300,000 1/80 1,025,000.00 -0- 50,000.00 975,000.00 Nor-Colo Distributors Warehouse 925,000 8/80 695,000.00 -0- 50,000.00 645,000.00 Dr. Hesse Clinic 90,000 2/81 61,326.43 -0- 5,617.99 55,708.44 Dos Gringos Land Warehouse 380,000 12/81 286,299.95 -0- 21,349.96 264,949.99 Eisenman Chemical Office 2,500,000 11/82 2,500,000.00 -0- 0.00 2,500,000.00 Platte River Steel Co. Manufacturing 2,000,000 5/82 1,895,000.00 -0- 45,000.00 1,850,000.00 10th Street Investment Office 2,500,000 8/82 2,345,000.00 -0- 50,000.00 2,295,000.00 Gateway Partnership Office 2,800,000 9/83 2,580,000.00 -0- 75,000.00 2,505,000.00 Dayton-Hudson Target Retail 2,000,000 4/83 1,200,000.00 -0- 200,000.00 1,000,000.00 Economy Lumber Retail 705,000 12/83 606,812.72 -0- 39,810.59 567,002.13 Colorado Counties, Inc. Office 625,000 7/84 620,000.00 -0- 10,000.00 610,000.00 Weld Mental Health Office 650,000 6/84 585,000.00 -0- 25.000.00 560,000.00 TOTAL INDUSTRIAL REVENUE BONDS 15,399,439.10 -0- 636,778.54 14,762,660.56 MORTGAGE REVENUE BONDS: Single-Family Revenue Bonds 1981-Series A $7,500,000 12/81 4,325,000.00 -0- 310,000.00 4,015,000.00 GRAND TOTAL PRIVATE PURPOSE REVENUE BONDS $19.724,439.10 $S0- $946,778.54 $18,777,660.56 -127- 890572 COUNTY OF WELD _. STATE OF COLORADO RETIREMENT PLAN REQUIRED SUPPLEMENTARY INFORMATION (Unaudited) ANALYSIS OF FUNDING PROGRESS BEGINNING ASSETS IN OF NET ASSETS PENSION EXCESS OF FISCAL AVAILABLE BENEFIT PERCENT PENSION YEAR FOR BENEFITS OBLIGATION FUNDED OBLIGATION 1979 $ 4,234,774 $ 4,234,664 100.0% $ (110) 1980 4,679,932 4,679,779 100.0% (153) 1981 6,364,130 6,364,130 100.0% -0- 1982 6,747,934 6,747,934 100.0% -0- 1983 9,248,144 7,730,870 119.6% (1,517,274) 1984 11,244,338 7,424,910 151.4% (3,819,428) 1985 12,970,501 9,267,695 140.0% (3,702,806) 1986 16,858,875 10,070,430 167.4% (6,788,445) 1987 20,121,008 15,836,511 127.1% (4,284,497) 1988 20,329,032 18,163,945 119.2% (2,165,087) The percentage of annual payroll to unfunded obligation is not shown as Weld County Retirement Plan had no unfunded obligation. REVENUES BY SOURCE FOR THE FISCAL EMPLOYEE EMPLOYER INVESTMENT YEAR CONTRIBUTIONS CONTRIBUTIONS INCOME TOTAL 1979 $ 426,861 $ 426,861 S 250,710 $ 1,104,432 1980 485,484 485,484 578,013 1,548,981 1981 526,569 526,569 468,727 1,521,865 1982 595,893 595,893 1,074,456 2,266,242 1983 632,054 632,054 1,261,004 2,525,112 1984 666,393 666,393 1,043,786 2,376,572 1985 708,883 708,883 3,162,758 4,580,524 1986 743,931 743,931 2,598,746 4,086,608 1987 837,729 837,627 1,844,038 3,519,394 1988 869,404 869,404 1,407,371 3,146,179 EXPENSES BY TYPE FOR THE FISCAL ADMINISTRATIVE YEAR BENEFITS EXPENSES REFUNDS TOTAL 1979 $ 128,853 $ 39,100 $ 201,365 $ 369,318 1980 147,539 41,710 189,421 378,670 1981 178,922 53,405 235,113 467,440 1982 217,167 66,498 220,477 504,142 1983 263,080 84,059 267,431 614,570 1984 316,266 45,162 382,735 744,163 1985 438,398 91,491 192,416 722,305 1986 464,517 116,852 246,809 828,178 1987 602,568 108,459 230,810 941,837 1988 756,332 174,261 356,800 1,287,393 890572 -123- COUNTY OF WELD STATE OF COLORADO Computation of Direct & Overlapping Bonded Debt General Obligation Bonds December 31, 1988 Net General Obligation Percentage Amount Bonded Debt Applicable to Applicable to Jurisdiction Outstanding Government Government Overlapping: Cities & Towns S 26,894,031 94.0% $ 25,280,389 Schools 52,290,410 81.0% 42,355,232 Special Districts 30,499.145 84.0% 25,619,282 Total Overlapping 109,683,586 93,254,903 Direct: Special Assessment 600,000 100.0% 600,000 Certificates of Participation 2.117.000 100.0% 2,117,000 Total Direct 2,717.000 2,717,000 TOTAL DIRECT & OVERLAPPING DEBT $ 112 400,586 $ 9 971.903 8905 -129- tst woe COLORADO -130- COMPLIANCE SECTION COLORADO Cs INDEPENDENT AUDITORS' REPORT ON SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE • Board of County Commissioners County of Weld, Colorado Greeley, Colorado We have audited the general purpose financial statements of the County of Weld as of and for the year ended December 31, 1988 and have issued our report thereon dated May 15, 1989. These financial statements are the responsibility of the County's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and the standards for financial audits contained in the Standards for Audit of Governmental Organizations, Programs, Activities, and Functions, issued by the U.S. General Accounting Office. Those standards required that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The accompanying schedule of Federal Financial Assistance is presented for the purposes of additional analysis and is not a required part of the financial statements of the County of Weld, Colorado. The information in this schedule has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. DELOITTE HASKINS & SELLS Denver, Colorado May 15, 1989 -131- 890572 . E : . ° Vu ` ` CD . . . \ [ }$/\|/[/ { `\` \ { 2 ! B!§;R!° % ! 0 \ ; § ) - \ Lpn ( ( § ( <-<o / I. (})$ \ ] \ | \ ° ° ` ° ° \°€ T \ .` )` } ( ! ! , 2 o. , \ § : 4, \_& \ ;&2 } .. Cr< 82 | \ 22 E - . . pl } - \ \ \ F. - - , . \ " i _ / 7126 ; / Z o" ! § " /, . ) � ! Ost ) \ 7. 2-.5.57 { ;{ /) < {\ % _ !) , ! ; )y ; ! , t Li; ! 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RECOMMENDATION As this deficiency appears to be recurring, the County should obtain a waiver or modification of the award requirement. RESPONSE The Weld County Division of Human Resources' Migrant Head Start Program is unable to meet the required 85% average daily attendance level because of the seasonal nature of crops in Weld County. The migrant families move in and out of the County with each different crop harvest during the entire summer period. This means that the same families do not stay in the area for the entire summer. Even though the Migrant Head Start Program did not meet the required average daily attendance, it was able to serve 489 migrant children in 1988, as opposed to the funded level of 200 children. Health and Human Services has been evaluating this performance standard and attempting to find a more equitable manner of determining this standard. The Weld County Migrant Head Start Program has been a part of this evaluation and will continue to provide input at the federal level. PROGRAM FINDINGS/NONCOMPLIANCE JTPA Although not material, instances occurred during the year where program expenditures reported to the State differ from amounts recorded in the County's general ledger. RECOMMENDATION The County should take steps necessary to assure that amounts reported to the State properly reflect program expenditures recorded in the general ledger. RESPONSE The Weld County Division of Human Resources is unable to meet the financial reporting requirements of the Governor's Job Training Office for the Job Training Partnership Act (JTPA) grants because of the strict -141- 890572 timeframes involved. We feel strongly that reports turned in should accurately match the general ledger, therefore, reports will be turned in as soon as possible after each quarter end close. PROGRAM FINDINGS/NONCOMPLIANCE AFDC Amounts reported to the State were different than expenditures recorded on the County's general ledger. In total, expenditures reported to the State were approximately $11,000 lower than the amount recorded in the County's general ledger. RECOMMENDATION The County should take steps necessary to assure that amounts reported to State properly reflect program expenditures recorded in the general ledger. RESPONSE The reason for the difference between the State AFDC reports and General Ledger is due to a timing difference on when cancels are reported to the State versus when cancels are journalized to the ledger. Also, the journalizing of Child Support deposits into AFDC and Non- AFDC accounts needs to be improved to accurately reflect amounts reported on the AFDC State reports. The department is working with Information Services on a program that will create a State and County table of accounts and department coding. This table will allow the State reports to be generated from the ledger provided a method can be devised to adjust State reports for accrual and reversal entries made on the ledger (State reports are prepared on a cash basis versus modified accrual) . PROGRAM FINDINGS/NONCOMPLIANCE AFDC Although not material, a weakness is indicated as persons in the Social Services business office handle cash recoveries and have access to the related accounting records. Although no such instances were noted, the lack of segregation of duties potential exists for recoveries to be diverted and not recorded or the related accounting records be altered to conceal the shortage. RECOMMENDATION The County should establish procedures necessary to assure that persons having access to cash recoveries should not have access to accounting records. Further, we recommend that such procedures includes dual -142- 890572 participation in collecting and recording all cash receipts received in the Social Services program. RESPONSE The department recognizes the need to imrpove the separation of duties for handling negotiable instruments. A cashier office will be formed; this unit will handle all cash, warrants, checks, and food stamp coupons. It will process incoming and outgoing negotiables. Employees in this unit will only have inquiry capabilities into County or State computer systems. All receipts will be reconciled to deposit forms by the Business Office which will not have access to any negotiable instruments. The Cashier's Office will be opreational by August 31, 1989; it will be within the Common Support Division. Existing staff from the Business Office and Food Stamp Issuance Office will make up this new unit. -143- 890572 INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL (ACCOUNTING AND ADMINISTRATIVE) BASED ON A STUDY AND EVALUATION MADE AS PART OF AN AUDIT OF THE GENERAL PURPOSE FINANCIAL STATEMENTS AND ADDITIONAL TESTS REQUIRED BY THE SINGLE AUDIT ACT Board of County Commissioners County of Weld, Colorado Greeley, Colorado We have audited the general purpose financial statements of the County of Weld, Colorado, for the year ended December 31, 1988, and have issued our report thereon dated May 15 , 1989. As part of our audit, we made a study and evaluation of the internal control systems, including applicable internal administrative controls, used in administering federal financial assistance programs to the extent we considered necessary to evaluate the systems as required by generally accepted auditing standards, the standards for financial audits contained in the Standards for Audit of Governmental Organizations, Programs, Activities, and Functions, issued by the U.S. General Accounting Office (1988 revision) , the Single Audit Act of 1984, and the provisions of OMB Circular A-128, Audits of State and Local Governments. For the purpose of this report, we have classified the significant internal accounting and administrative controls used in administering federal financial assistance programs in the following categories: general compliance, eligibility, other specific compliance and grantor reporting. The management of the County of Weld, Colorado, is responsible for establishing and maintaining internal control systems used in administering federal financial assistance programs. In fulfilling that responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. The objectives of internal control systems used in administering federal financial assistance programs are to provide management with reasonable, but not absolute, assurance that, with respect to federal financial assistance programs , resource use is consistent with laws, regulations, and policies; resources are safeguarded against waste, loss , and misuse; and reliable data are obtained, maintained, and fairly disclosed in reports. Because of the inherent limitations in any system of internal accounting and administrative controls used in administering federal financial assistance programs, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the systems to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate. Our study included all of the applicable control categories listed above. During the year ended December 31, 1988, the County of Weld, Colorado, expended 78% of its total federal financial assistance under major federal financial assistance programs. With respect to internal control systems used in administering major federal financial assistance programs, our study and evaluation included considering the types of errors and irregularities that could occur, determining the internal control procedures that should prevent or detect such errors and irregularities, determining whether the necessary -144- 90572 procedures are prescribed and are being followed satisfactorily, and evaluating any weaknesses. With respect to the internal control systems used solely in administering the nonmajor federal financial assistance programs of the County of Weld, Colorado, our study and evaluation was limited to a preliminary review of the systems to obtain an understanding of the control environment and the flow of transactions through the accounting system. Our study and evaluation of the internal control systems used solely in administering the nonmajor federal financial programs of the County of Weld, Colorado, did not extend beyond this preliminary review phase. Our study and evaluation was more limited than would be necessary to express an opinion on the internal control systems used in administering the federal financial assistance programs of the County of Weld, Colorado. Accordingly, we do not express an opinion on the internal control systems used in administering the federal financial assistance programs of County of Weld, Colorado. Further, we do not express an opinion on the internal control systems used in administering the major federal financial assistance programs of the County of Weld, Colorado. Also, our examination, made in accordance with the standards mentioned above, would not necessarily disclose material weaknesses in the internal control systems used solely in administering nonmajor federal financial assistance programs. However, our study and evaluation disclosed no condition that we believe is a material weakness in relation to a federal financial assistance program of the County of Weld, Colorado. This report is intended solely for the use of management and federal and state grantor agencies that administer federal financial assistance programs with the County of Weld, Colorado, and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report, which, upon acceptance by the Board of County Commissioners is a matter of public record. PAblit A11140444:4 9-44 DELOITTE HASKINS & SELLS Denver, Colorado May 15, 1989 9(35"72 -145- INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS RELATED TO MAJOR AND NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS Board of County Commissioners County of Weld, Colorado Greeley, Colorado We have audited the general purpose financial statements of the County of Weld, Colorado, for the year ended December 31, 1988, and have issued our report thereon dated May 15, 1989. Our audit was conducted in accordance with generally accepted auditing standards; the standards for financial and compliance audits contained in the Standards for Audit of Governmental Organizations, Programs, Activities, and Functions , issued by the U.S. General Accounting Office (1988 revision) ; the Single Audit Act of 1984; and the provisions of OMB Circular A-128, Audits of State and Local Governments and, accordingly, included such tests of the accounting records and such other procedures as we considered necessary in the circumstances. The management of the County of Weld, Colorado, is responsible for the County's compliance with laws and regulations. In connection with the audit referred to above, we selected and tested transactions and records from each major federal financial assistance program and certain nonmajor federal financial assistance programs. The purpose of our testing of transactions and records from those federal financial assistance programs was to obtain reasonable assurance that the County of Weld, Colorado, had, in all material respects, administered major programs and executed the tested nonmajor program transactions, in compliance with laws and regulations, including those pertaining to financial reports and claims for advances and reimbursements, noncompliance with which we believe could have a material effect on the allowability of program expenditures. Our testing of transactions and records selected from major federal financial assistance programs disclosed instances of noncompliance with those laws and regulations. Though not affecting the allowability of program expenditures, such instances of noncompliance and the programs to which they relate are identified in the accompanying schedule of findings. In our opinion, the County of Weld, Colorado, administered each of its major federal financial assistance programs in compliance, in all material respects, with laws and regulations, during the year ended December 31, 1988, including those pertaining to financial reports and claims for advances and reimbursements , noncompliance with which we believe could have a material effect on the allowability of program expenditures. The results of our testing of transactions and records selected from nonmajor federal financial assistance programs indicate that for the transactions and records tested the County of Weld, Colorado, complied with the laws and regulations referred to in the second paragraph of our report, except as noted in the accompanying schedule of findings. Our testing was more limited than would be necessary to express an opinion on whether the County of Weld, Colorado, administered those programs in compliance in all material respects with those laws and regulations noncompliance with which we believe could -146- 890572 have a material effect on the allowability of program expenditures; however, with respect to the transactions and records that were not tested by us , nothing came to our attention to indicate that the County of Weld, Colorado, had not complied with laws and regulations other than those laws and regulations for which we noted violations in our testing referred to above. DELOITTE HASKINS & SELLS Denver, Colorado May 15, 1989 894 572 -147- INDEPENDENT AUDITORS' REPORT ON INTERNAL ACCOUNTING CONTROLS BASED SOLELY ON A STUDY AND EVALUATION MADE AS PART OF AN AUDIT OF THE GENERAL PURPOSE FINANCIAL STATEMENTS Board of County Commissioners County of Weld, Colorado Greeley, CO We have audited the general purpose financial statements of the County of Weld for the year ended December 31, 1988 and have issued our report thereon dated May 15, 1989. As part of our audit, we made a study and evaluation of the County's system of internal accounting control to the extent we considered necessary to evaluate the system as required by generally accepted auditing standards and the standards for financial audits contained in the U.S. General Accounting Office Standards for Audit of Governmental Organizations, Programs, Activities , and Functions (1988 revision) . For the purposes of this report, we have classified the significant internal accounting controls in the following categories: financing, receipts , disbursements , and external reporting. Our study included all categories listed above. The purpose of our study and evaluation was to determine the nature, timing, and extent of the auditing procedures necessary for expressing an opinion on the County's general purpose financial statements. Our study and evaluation was more limited than would be necessary to express an opinion on the system of internal accounting control taken as a whole or on any of the categories of controls identified above. The management of the County of Weld is responsible for establishing and maintaining a system of internal accounting control, the objectives and inherent limitations on such a system, and the definition of a material weakness for purposes of this report, which are described in the Appendix to this report. Our study and evaluation made for the limited purpose described in the first paragraph would not necessarily disclose all material weaknesses in the system. Accordingly, we do not express an opinion on the system of internal accounting control of the County taken as a whole. However, our study and evaluation disclosed no condition that we believe to be a material weakness. This report is intended solely for the use of management and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which, upon acceptance by the Board of County Commissioners, is a matter of public record. DELOITTE HASKINS & SELLS Denver, Colorado May 15, 1989 890572 -148- MANAGEMENT'S RESPONSIBILITY FOR, AND THE OBJECTIVES AND LIMITATIONS OF, INTERNAL ACCOUNTING CONTROL AND THE DEFINITION OF A MATERIAL WEAKNESS APPENDIX The following comments concerning management's responsibility for internal accounting control, the objectives of the inherent limitations in a system of internal accounting control, and the definition of a material weakness are excerpts from Statements on Auditing Standards of the American Institute of Certified Public Accountants. MANAGEMENT'S RESPONSIBILITY: Management is responsible for establishing and maintaining a system of internal accounting control. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of control procedures. OBJECTIVES: The objectives of a system are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. LIMITATIONS: Because of inherent limitations in any system of internal accounting control, errors or irregularities nevertheless may occur and not be detected. Also, projection of any evaluation of the system to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the degree of compliance with the procedures may deteriorate. MATERIAL WEAKNESS: A material weakness (for the auditor's purpose) is a condition in which the specific control procedures, or the degree of compliance with them, do not (in the auditor's judgment) reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. These criteria may be broader than those that may be appropriate for evaluating weaknesses in accounting control for management or other purposes. 890572 -149- INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS BASED ON AN AUDIT OF THE GENERAL PURPOSE FINANCIAL STATEMENTS Board of County Commissioners County of Weld, Colorado Greeley, Colorado We have audited the general purpose financial statements of the County of Weld, Colorado, for the year ended December 31, 1988 and have issued our report thereon dated May 15 1989. Our audit was conducted in accordance with generally accepted auditing standards and the standards for financial audits contained in the Standards for Audit of Governmental Organizations , Programs , Activities, and Functions (1988 revision) , issued by the U.S. General Accounting Office, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances . The management of the County of Weld is responsible for the County's compliance with laws and regulations. In connection with our audit referred to above, we selected and tested transactions and records to determine the County's compliance with laws and regulations noncompliance with which could have a material effect on the general purpose financial statements of the County. The results of our tests indicate that for the transactions tested, the County of Weld, Colorado, complied with those provisions of laws and regulations noncompliance with which could have a material effect on the general purpose financial statements. With respect to transactions not tested, nothing came to our attention to indicate that the County of Weld, Colorado, was not in compliance with laws or regulations noncompliance with which could have a material effect on the County's general purpose financial statements. sdath444..... DELOITTE HASKINS & SELLS Denver, Colorado May 15, 1989 890572 -15O- Hello