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Home My WebLink About931131.tiff • • • I V r' WELD COUNTY TREASURER' S OFFICE (A Department of the County of Weld, Colorado) FINANCIAL STATEMENTS Year Ended December 31, 1992 ANdERSON ©WkIITNEy ■ ■ ■ • ■ - 0)1#61 C1 I"13 931131 �o a/1 WELD COUNTY TREASURER'S OFFICE (A Department of the County of Weld, Colorado) _ FINANCIAL STATEMENTS Year Ended December 31, 1992 TABLE OF CONTENTS Independent Auditors' Report 2 STATEMENT OF ASSETS AND LIABILITIFS ARISING FROM CASH TRANSACTIONS 4 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS 5 NOTES TO FINANCIAL STATEMENTS 9 -1- ANDERSON & WHITNEY, F.C. ANdERSON CERTIFIED PUBLIC ACCOUNTANTS 1001 Ninth Avenue ©WI--IITNEy ( 03) 52-79 Colorado 80631-h046 ■ ■ ■ ■ . (303)352-7990 FAX(303)352-1855 Independent Auditors' Report Board of County Commissioners County of Weld, Colorado Greeley, Colorado We have audited the accompanying statement of assets and liabilities arising from cash transactions of the Weld County Treasurer's Office, a department of the County of Weld, Colorado, as of December 31, 1992, and the related statement of cash receipts and disbursements for the year then ended. These financial statements are the responsibility of the County Treasurer. 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. As described in Note 1 to the financial statements, these statements present a summary of the cash activity of the Weld County Treasurer's Office and were prepared on the cash receipts and disbursements basis, which is a comprehensive basis of accounting other than generally accepted accounting principles. In our opinion, such financial statements present fairly, in all material respects, the assets and liabilities arising from cash transactions of the Weld County Treasurer's Office as of December 31, 1992, and its cash receipts and disbursements for the year then ended. April 28, 1993 MEMBERS CT AMC SC INSTITUTE C`E CERTIFIED PUBLIC ACCOUNTANTS £C AND PRIVATE COMPANIES PRACTICE SECT IONS AK IA DIVISI(T (l CPA I VMS S(CDIINTN H P 555O'1 4 W'. This page intentionally left blank. -3- WELD COUNTY TRE, ,URER'S OFFICE (A Department of the County of Weld, Colorado) STATEMENT OF ASSETS AND LIABILITIES ARISING FROM CASH TRANSACTIONS December 31 1992 ASSETS Cash on Hand $ 571,449 Cash in Bank - demand and time deposits 7,777,754 Short-Term Investments 12,097,306 U.S. Treasury Notes 836.828 TOTAL ASSETS $ 21,283,337 LIABILITIES Funds Held in Trust For: County funds $ 15,404,079 Trust and agency funds 5.879.258 TOTAL LIABILITIES $ 21.283,337 See Accompanying Notes to Financial Statements. -4- WELD COUNTY TRE. .URER'S OFFICE (A Department of the County of Weld, Colorado) STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS Specific Balance Property Ownership Year Ended December 31, 1992 1/1/92 Taxes Taxes County Funds: General $ 1,476,675 $ 14,352,813 $ 1,094,222 Road and Bridge 2,632,086 3,817,975 290,996 Social Services 1,573,947 3,136,688 239,167 Conservation Trust 253,568 -- — Contingent 913,789 933,025 71,081 Emergency Reserve Public Health 344,527 -- -- Human Resources 625,960 -- -- Solid Waste 577,738 -- Capital Expenditures 2,306,755 881,068 67,213 Ambulance enterprise 414,151 -- -- Motor Pool 355,627 -- -- Health and Life Insurance Trust Fund 185,188 -- -- Printing/Supply 67,213 -- __ Computer Services 706,741 Insurance 1,292,765 591,531 45,086 PBX Phone 137,773 -- -- Road 32 special assessment -- __ Road 34 special assessment -- -- Roads 15 and 84 special assessment -- -- -- 83rd Avenue special assessment 23,682 -- -- Elmore special district 6,890 -- _- Road 5 special improvement district 104,198 -- Housing Authority 305,447 -- -- Antelope Hills special assessment 26,062 -- -- Indianhead special assessment 2,327 -- __ Northmoor special improvement district 57,211 -- Casa Grande/Enchanted Hills special assessment 104,890 -- -- Knaus Subdivision special assessment 18,082 -- -- Road 71 special assessment 50,649 -- __ Basswood special assessment 4.795 -- Total County Funds 14.568.736 23.713.100 1.807,765 Continued on page 7. -5- Other Total Transfers Balance Receipts Receipts In (Out) Disbursements 12/31/92 $ 5,327,568 $ 20,774,603 $ 7,719,878 $(27,377,586) $ 2,593,570 6,057,781 10,166,752 (12,312,680) 486,158 16,589,290 19,965,145 (3,853,497) (15,962,940) 1,722,655 223,698 223,698 (299,867) -- 177,399 -- 1,004,106 2,804,761 -- 4,722,656 -- -- 800,000 -- 800,000 1,083,235 1,083,235 (983,135) -- 444,627 5,032,428 5,032,428 (5,395,261) -- 263,127 429,261 429,261 (714,149) -- 292,850 2,238,362 3,186,643 (4,272,732) -- 1,220,666 1,454,882 1,454,882 (1,856,952) -- 12,081 379,913 379,913 (460,931) -- 274,609 53,746 53,746 (132,606) -- 106,328 6,398 6,398 (47,104) -- 26,507 12,972 12,972 (578,950) -- 140,763 217,269 853,886 (1,095,180) (41,251) 1,010,220 53,883 53,883 (220,317) -- (28,661) 6,000 6,000 -- -- 6,000 4,000 4,000 -- -- 4,000 340,100 340,100 -- -- 340,100 31,024 31,024 -- -- 54,706 (6,890) -- -- 140,500 140,500 -- (40,750) 203,948 1,495,970 1,495,970 (1,602,890) (27) 198,500 5,201 5,201 -- -- 31,263 432 432 (132) -- 2,627 15,601 15,601 1,590 (138) 74,264 24,998 24,998 176 (10) 130,054 5,384 5,384 (491) -- 22,975 9,485 9,485 315 -- 60,449 3,735 3,735 1.108 -- 9.638 41,243.116 66,763,981 (22,505.936) (43,422,702) 15,404,079 -6- WELD COUNTY TRb_ .JURER'S OFFICE (A Department of the County of Weld, Colorado) STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS - Continued Specific Balance Property Ownership Year Ended December 31, 1992 1/1/92 Taxes Taxes Trust and Agency Funds: Payroll $ 243,158 $ $ Employee Flexible Spending 28,096 -- Retirement Plan 173,144 Deferred Compensation 178,896 -- -- 8 - Emergency Telephone Service - North Colorado Medical Center Trust Library district 720,321 1,037,630 1,389,624 105,829 - School districts 649,366 48,601,664 3,703,778 Water districts 34,233 2,634,323 151,195 Cities and towns 185,880 6,062,404 463,766 Fire districts 38,713 3,249,259 247,914 Sanitation districts 8,651 179,510 13,857 Aims Community College 69,559 5,755,388 438,349 Clerk and Recorder 407,086 -- -- Carbon Valley Recreation 3,040 266,253 20,096 Greeley general improvement district 2,013 195,731 13,388 Windsor Library 1,365 123,934 9,495 Tri-Area Ambulance 2,206 198,051 15,054 Beebe Draw Metropolitan 1,058 63,346 4,677 West Greeley Soil Conservation 1,086 90,754 6,876 Greeley Urban Renewal Authority 147 Airport 50,564 Commissary 22,882 -- Pest and Weed Trust 8,036 1,395 Sheriff's volunteer program 12,394 -- __ Clerk to the Board Trust 23,100 -- Weld County Cooperative Extension Trust 30,335 -- __ Greeley Video, Inc. Trust 3,000 __ State reimbursement 216 84 - Special collections 1,159 53,637 Treasurer miscellaneous 1,361,999 309,612 Public Trustee escrow account 23,371 -- __ Weld County drug task force -- -- -- __ Waste Services trust Total Trust and Agency Funds 5,322,704 69,174,977 5.194,274 TOTAL CASH RECEIPTS AND DISBURSEMENTS $ 19,891,440 $ 92,888077 $ 7,002,039 See Accompanying Notes to Financial Statements. -7- Other Total Transfers Balance Receipts Receipts In (Out) Disbursements 12/31/92 $ 4,997 $ 4,997 $ 25,198,839 $ (25,180,234) $ 266,760 -- -- 12,543 -- 40,639 -- -- 2,365,559 (2,341,168) 197,535 400 400 (400) -- -- 309,683 309,683 (147,713) -- 340,866 35,995 36,003 (408,276) -- 665,357 255,638 1,751,091 (1,647,832) -- 823,580 8,365,757 60,671,199 (155,558) (59,463,981) 1,701,026 2,124 2,787,642 (21,520) (2,770,136) 30,219 -- 6,526,170 1,939,085 (8,454,324) 196,811 7,668 3,504,841 (21,616) (3,484,504) 37,434 -- 193,367 (1,187) (195,652) 5,179 9,219 6,202,956 (51,809) (6,156,437) 64,269 8,511,048 8,511,048 (2,844,181) (5,641,016) 432,937 -- 286,349 (1,781) (284,755) 2,853 -- 209,119 (26,986) (182,063) 2,083 -- 133,429 (822) (132,607) 1,365 -- 213,105 (1,321) (211,872) 2,118 -- 68,023 (428) (67,663) 990 -- 97,630 (606) (97,136) 974 -- -- 225,898 (225,590) 455 716,590 716,590 (659,321) -- 107,833 64,098 64,098 (62,623) -- 24,357 -- 1,395 -- -- 9,431 28,096 28,096 (26,634) -- 13,856 3,051 3,051 (19,201) -- 6,950 939 939 (1,500) -- 29,774 -- -- -- -- 3,000 -- 84 (216) -- 84 42,852 96,489 25,418 (122,690) 376 3,093,722 3,403,334 (1,198,392) (2,765,044) 801,897 24,178 24,178 -- (21,638) 25,911 -- -- 38,517 -- 38,517 13.231 13.231 -- (9.409) 3.822 21.489.286 95.858.537 22.505.936 (117.807.919) 5.879.258 $ 62.732.402 $ 162.622 518 $ -- $ (161.230.621) $ 21.283.337 -8- WELD COUNTY TRE. JURER'S OFFICE (A Department of the County of Weld, Colorado) NOTES TO FINANCIAL STATEMENTS Note 1 - Summary of Significant Accounting Policies: The accompanying financial statements of the Weld County Treasurer's Office (Treasurer) have been prepared on the basis of cash receipts and disbursements, which is a comprehensive basis of accounting other than generally accepted accounting principles. The financial statements are not intended to present financial position and results of operations in conformity with generally accepted accounting principles. The Weld County Treasurer's Office is a department of the County of Weld, Colorado (County) and its accounts are included in the County's general purpose financial statements. The statement of assets and liabilities arising from cash transactions presents cash and short-term investments held by the Treasurer for the County (County Funds) and for other local governments as trustee or agent (Trust and Agency Funds). The statement of cash receipts and disbursements presents cash receipt and disbursement activity for various accounts established by the Treasurer to maintain accountability for County Funds and Trust and Agency Funds. The accounts maintained by the Treasurer generally correspond to, but in some cases reflect more detail than, the individual funds reported by the County in its general purpose financial statements. Transactions between accounts maintained by the Treasurer are reported as transfers in the statement of cash receipts and disbursements. Investments are stated at cost. Note 2 - Deposits with Financial Institutions: At December 31, 1992 deposits with banks and savings institutions totaled $7,777,754. Of this amount, $910,257 was covered by federal deposit insurance and the remainder was collateralized with securities held by the pledging financial institution's trust department or agents in the County's name under the Public Deposit Protection Act. Note 3 - Investments: State statutes authorize the County to invest in obligations of the U.S. Treasury, agencies and instrumentalities, commercial paper, money market funds, repurchase agreements, and local government investment pools. Throughout 1992, the County invested in local government investment pools established by State statute. These pools operate similarly to a money market fund and each share is equal in value to $1. At December 31, 1992, the County had $1,247,597 invested in COLOTRUST, $4,099,160 in CSAFE, $991,857 in Colorado Statewide Asset Trust, and $1,099,077 in Colorado Diversified Trust. -9- Note 3 - Investments - Continued: At December 31, 1992, the County Contingent Fund had short-term investments of $4,659,615 in a government securities fund. This fund was frozen by the Securities and Exchange Commission in 1991 pending outcome of criminal investigations of the securities dealers, and the County has initiated litigation to recover damages. The market value of this investment is not available. There is a reasonable possibility that an investment loss may ultimately be incurred. An estimate of the loss or range of loss cannot be made due to the preliminary status of the litigation. At December 31, 1992, the County also held two U.S. Treasury Notes as investments. The notes mature in 1995 and 1996 and had a book value of $836,828. Market value as of December 31, 1992 was $869,964. -10- Hello