HomeMy WebLinkAbout20162355.tiffPREPARED BY THE DEPARTMENTS OF ACCOUNTING AND FINANCE
LEADING WITH RESPONSIVE, INNOVATIVE I COST EFFECTIVE SERVICES.
mitorAtan
COLORADO
TABLE OF CONTENTS
INTRODUCTORY SECTION
Table of Contents, i
Letter Of Transmittal1
Government Finance Officers Association Certificate
of Achievment for Excellence in Financial Reporting14
Organizational Chart 15
Principal County Officials16
FINANCIAL SECTION
Independent Auditors' Report 17
Management's Discussion and Analysis 19
Basic Financial Statements
Government -Wide Financial Statements:
Statement of Net Position... 27
Statement of Activities, 28
Governmental Fund Financial Statements:
Balance Sheet 30
Reconciliation of Total Governmental Fund Balances to the
Statement of Net Position 32
Statement of Revenues, Expenditures and Changes in Fund Balance 34
Reconciliation of the Statement of Revenues, Expenditures, and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities. 36
Proprietary Fund Financial Statements:
Statement of Net Position - Proprietary Funds37
Statement of Revenue, Expenses and Changes in Net Position -
Proprietary Funds38
Statement of Cash Flows - Proprietary Funds 39
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position... 40
Statement of Changes in Fiduciary Net Position 41
Notes to the Financial Statements, 42
Required Supplementary Information Other Than MD&A:
Required Supplementary Information Other Than MD&A:
Required Supplementary Information
Pension Trust73
Other Post Employment Benefits74
Modified Approach for Infrastructure Assets 75
i
Schedules of Revenues, Expenditures and Changes in Fund Balances - Actual and Budget
General Fund and Major Special Revenue Funds:
General Fund 77
Public Works Fund 82
Social Services Fund 84
Human Services Fund 86
Contingent Fund 88
Supplemental Information:
Combining Statement of Non -major Governmental Funds:
Explanation of Funds 89
Combining Balance Sheet 94
Combining Statement of Revenues, Expenditures and Changes in Fund Balance...96
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Capital Expenditures Fund 98
Non -major Governmental Funds:
Special Revenue Funds:
Conservation Trust Fund 99
Public Health Fund100
Solid Waste Fund 101
Bebee Draw Fund 102
Pioneer Community Law Enforcement Fund 103
South West Law Enforcement Fund 104
Component Units:
Housing Authority 105
E-911 Authority Fund. 106
Local Highway Finance Report 108
Combining Statements of Internal Service Funds:
Combining Statement of Net Position - Internal Service Funds110
Combining Statement of Revenues, Expenditures and Changes in
Net Position - Internal Service Funds 112
Combining Statement of Cash Flows - Internal Service Funds 114
Combining Statement of Fiduciary Funds:
Combining Statement of Changes in Assets and Liabilities - Fiduciary Funds 116
ii
Schedule of Revenues, Expenses and Changes in Net Position -Actual and Budget
Enterprise Fund and Internal Service Funds:
Enterprise Fund:
Northern Colorado Regional Forensic Laboratory 117
Internal Service Funds:
Motor Vehicle 118
Health Insurance Fund 119
Insurance Fund 120
Phone Service Fund 121
STATISTICAL SECTION
Net Position by Component 124
Changes in Net Position 126
Fund Balances of Governmental Funds, 128
Changes in Fund Balances, Governmental Funds 130
Assessed and Estimated Actual Value of Property132
Property Tax Rates - Direct and Overlapping Governments 134
Principle Tax Payers 135
Property Taxes Levies and Collections 136
Direct and Overlapping Governmental Activities Debt 137
Legal Debt Margin Information 138
Private Purpose Revenue Bonds140
Demographic and Economic Statistics 141
Principal Employers 142
Full -Time Equivalent Employees by Function/Program ..144
Operating Indicators by Function/Program. 146
Capital Asset by Function/Program 148
Insurance in Force 150
SINGLE AUDIT
Schedule of Expenditures of Federal Awards151
Notes to Schedule of Expenditures of Federal Awards 153
Independant Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters
on an Audit of Financial Statements Performed in Accordance with Governmental Accounting Standards 155
Independant Auditor's Report on Compliance with Requirements that could have a Material Effect on each Major
Program and on Internal Controlover Compliance in Accordance with OMB Circular A-133 157
Schedule of Findings and Questioned Costs 159
Summary Schedule of Prior Federal Audit Findings 165
111
iv
DEPARTMENT OF FINANCE
AND ADMINISTRATION
PHONE (970) 356-4000, EXT.4218
FAX: (970) 352-0242
P.O. BOX 758
GREELEY, COLORADO 80632
June 29, 2015
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, 2014, is hereby submitted.
Responsibility for both the accuracy of the data, and the completeness and
fairness of the presentation, including all disclosures, rests with the County. To
the best of our knowledge and belief, the enclosed data is accurate in all
material respects and is reported in a manner designed to present fairly the
financial position and results of operations of the various funds and account
groups of the County. The assurance of the accuracy in the County financial
report is a result of the County's internal controls. The controls have been
developed to provide accurate information on an efficient and cost-effective
basis. All disclosures necessary to enable the reader to gain an understanding
of the County's financial activities have been included.
With the December 31, 2014 financial statements, Weld County has elected to
continue a significant change in government financial reporting. The purpose of
these changes, which were developed by the Governmental Accounting
Standards Board (GASB), is to provide better and more complete information to
the users of governmental financial statements. In addition to changes to the
basic financial statements, the statements are now accompanied by an
introduction, overview, and analysis, referred to as "Management's Discussion
and Analysis" (MD&A). This letter of transmittal is designed to complement the
MD&A and should be read in conjunction with it. The MD&A can be found in
the Financial Section immediately following the independent auditor's report.
The County provides the full range of county services contemplated by statute
or charter. These include general government functions, public protection and
safety, health, social services, human resource services, public improvements,
road and bridge operations, planning and zoning, and general administrative
services.
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This report includes all activities for which the Board of County Commissioners
is accountable to the citizens of Weld County, financially, or by State Statute or
the Weld County Home Rule Charter. All applicable funds, departments, and
offices are included in these financial statements as part of the "primary
government" of Weld County. In addition, there are several legally separate
entities that have significant operational or financial relationships with the
County. These include the Weld County Housing Authority, Weld County
Retirement Plan, Beebe Draw Law Enforcement Authority, Pioneer Community
Law Enforcement Authority, Southwest Weld Law Enforcement authority, Weld
County Finance Corporation, and E-911 Authority. These entities are also
included in the County's financial statements.
INDEPENDENT AUDIT
Colorado law requires that the County's financial statements be audited by an
independent certified public accountant or firm of certified public accountants
licensed to practice in the State of Colorado. The county's financial statements
have been audited by McGee, Hearne & Paiz, LLP a Colorado licensed
Certified Public Accounting firm. The goal of the independent audit was to
provide reasonable assurance that the financial statements are free of material
misstatement. The independent audit involved examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. The
independent auditor concluded, based upon the audit, that there was a
reasonable basis for issuing an unqualified opinion that the County's financial
statements for the year ended December 31, 2014, are fairly presented in
conformity with GAAP. The independent auditor's report is presented in the
front of the financial section of this report.
The independent audit of the County's financial statements was part of a
broader, federally mandated "Single Audit" in accordance with provisions of the
Single Audit Act of 1984, Federal Single Audit Amendment of 1996, and U.S.
Office of Management and Budget Circular A-133, Audits of States, Local
Governments, and Non -Profit Organizations. The "Single Audit" is designed to
meet the special needs of federal grantor agencies. The standards governing
Single Audit engagements require the independent auditor to report not only on
the fair presentation of the financial statements, but also on the audited
government's internal controls and compliance with legal requirements,
especially as they relate to the administration of federal awards. Single audit
schedules and the auditor's reports are available in the "Single Audit" section of
the document.
PROFILE OF WELD COUNTY
Location and demographics. Weld County is located along Colorado's Front
Range in the northern part of the state. Weld County covers an area of 3,999
square miles in north central Colorado. It is bordered on the north by Wyoming
and Nebraska and on the south by the Denver metropolitan area. The third
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largest county in Colorado, Weld County has an area greater than that of
Rhode Island, Delaware and the District of Columbia combined.
The climate is dry and generally mild with warm summers, mild winters and a
growing season of approximately 138 days. The land surface is fairly level in
the east, with rolling prairies and low hills near the western border. Elevations
in the county range from 4,400 to 5,000 feet.
The South Platte River and its tributaries, the Cache la Poudre, Big Thompson,
Little Thompson, Boulder, St. Vrain, and other smaller streams, flow into Weld
County from the south and west, leaving the county on the east.
There are 31 incorporated towns in Weld County. The county seat and
principal city, Greeley, is located in the west central part of the county and
contains almost half the county's population. Generally, most of the remaining
population resides within a 20 to 30 mile radius of Greeley; the northeastern
part of the county is sparsely populated. Southwest Weld County is one of the
fastest growing areas in the state due to its proximity to the north Denver metro
area. The county's population in 2014 was approximately 270,600.
COUNTY GOVERNMENT
County Services. Weld County provides the full range of services contemplated by State
Statute and the Weld County Home Rule Charter. Services include:
• Judicial and public safety - - consisting of the Sheriff, District Attorney, operation and
maintenance of the detention center, regional communications center, and building
inspection.
• Health, employment, and social services.
• Planning and zoning.
• Construction, reconstruction and maintenance of streets, highways, and bridges.
• Parks and recreation.
• Property valuation, tax collection and distribution, and vehicle licensing.
• General administrative services.
County Operating Structure. Weld County became Colorado's first Home Rule County in
1976. The County is governed by a five -member Board of County Commissioners. Three
Commissioners are elected by districts of relatively equal population and two Commissioners
are elected at large. They serve staggered four-year terms and function as the County's
policymaking body. Each Commissioner coordinates one of five functions of the County. The
County is also served by four other elected officials: assessor, clerk and recorder, district
attorney, and sheriff. Weld County also has a five -member, non-partisan, elected body that is
charged to review all aspects of County government and to make periodic written reports to the
public. The Commissioners appoint department heads to be responsible for the various day-to-
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day operations.
Budgeting. The County Commissioners annually adopt budgets by department for all
governmental and proprietary funds. Budgets are controlled by the major object categories of
Personnel, Operating Costs, and Capital Outlay. Control is maintained by the three categories
at the division/department level in the General Fund and at the fund level in all other funds.
Supplemental appropriations are approved by the Board of County Commissioners as needed
during the year to provide for those items that were unknown or unforeseen at the time the
budget was originally adopted.
MAJOR INITIATIVES
For the Year. In 2014, the Board identified a number of significant program changes to
enhance service delivery to the citizens of Weld County. The following is a summary of
significant program changes and initiatives for 2014:
Completed road and bridge permanent repairs and mitigation projects resulting from the
September, 2013 flooding
Assessed value increased 9.33% or $598.5 million primarily from oil and gas production
Continue implementation of the Strategic Investment Plan for the Future of Weld County
Funded innovation and technology projects identified
r Funded the oil and gas revenue fluctuation reserve in the Contingency Fund
Effective January 1, 2014, now performing all county information technology functions
with county staff, instead of by use of ACS contract services
Implemented a countywide training program with a Trainer position in Human Resources
Implemented a criminal justice planning function in the county
Implemented a Restorative Justice Program in the District Attorney's Office for juvenile
offenders
Added a Pre -Trial Specialist to accommodate HB 13-1236 changes to jail bonding
criteria
Added seven positions in the North Jail to open up 54 additional inmate beds
The Weld County Regional Communications Center (WCRCC) now operates under a
new organizational structure with Weld County operating the WCRCC and dispatching
all public safety agencies in the county, including City of Greeley Police and Fire
Participated in the Title IV -E (Foster Care and Adoption Assistance Entitlement Grant)
waiver project
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Accommodated the impacts of the Affordable Care Act on Medicaid eligibility applicants
Added two additional Planning positions to accommodate new development
Implemented a small business development incentive program
Continued to fund a Haul Route Program (HARP) to improve county roads impacted by
the energy industry due to new oil and gas drilling exploration
r Began construction of Phases I and II of three phases of WCR 49 improvements
Funded current and past administrative costs of the Weld County Retirement Plan
FACTORS AFFECTING FINANCIAL CONDITION
Economic Conditions and Outlook.
Economic activity will grow at a more earnest pace in 2015. Headwinds created by fiscal and
monetary policy have diminished and the global economy is improving, allowing the private
sector to gain momentum. Most economic uncertainty in 2015 will center on whether the
Federal Reserve can achieve a smooth deceleration of its monetary expansion policies.
Economic growth will accelerate in 2015, with GDP increasing 3.5 percent. The gains will come
from household and business spending. However, growth will continue to be slightly offset by
reduced government spending.
In December 2013, Congress approved a spending plan that would fund the federal government
for two years. The plan modifies the sequestration cuts by increasing spending $45 billion and
$20 billion in Federal FYs 2013-14 and 2014-15, respectively, over current law levels. In
addition, Congress approved a suspension of the debt limit through March 15, 2015. When the
debt limit suspension ends, the debt limit will automatically increase to reflect the amount of
borrowing that occurred since the last debt limit.
The Federal Reserve continues to indicate that further reduction in its stimulus would be
appropriate as long as the economy continues to improve. The Federal Reserve has supported
the nation's recovery over the last five years with an unprecedented expansion of assets on its
balance sheet. In a fully mature economic expansion, the Federal Reserve's balance sheet
should be close to $1 trillion and the federal funds rate should be around 4 percent. Many
analysts do not expect monetary policy to return to these levels until 2017 or 2018. This requires
the economy to recover gradually and assumes that long-term interest rates rise steadily and in
an orderly fashion.
In addition, the Federal Reserve has held the effective federal funds rate, the rate at which
banks lend money to each other overnight, close to zero. Tightening, or a reduction in the
money supply, will not occur in earnest until the Federal Reserve begins selling securities in
order to increase its target for the federal funds rate. The Federal Open Market Committee
(FOMC) has indicated it will not move to tighten until the unemployment rate is 6.5 percent or
lower. Many economic forecasts predict that tightening will begin in late 2015.
There continues to be very little inflationary pressure, giving the Federal Reserve room to
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maintain monetary policies to allow the nation's economy to strengthen further. Inflationary
pressure has remained muted even as the Federal Reserve has rapidly expanded the money
supply. Weak global economic conditions and excess capacity in manufacturing and the labor
market have contributed to this situation. However, a significant contributor to the lack of
inflationary pressure is the increasingly low rate at which money moves through the economy.
Little inflation pressure is expected as long as slack remains in the labor market. As the U.S.
economy improves, the Federal Reserve will tighten monetary policy, keeping inflation in check
throughout 2015. Prices are projected to increase 2.0 percent in 2014 and 2.4 percent in
2015.
The world economy continued to show improvement. Global conditions are expected to improve
further in 2015. The Euro region's financial crisis appears to be stabilizing. The United
Kingdom's economy is improving, and its unemployment rate is declining much faster than
previously expected. Japan's economy has shown improvements because of recent fiscal
policy, and the emerging and developing economies, which include Asia and Latin America, are
expected to pick up momentum and experience a more broad -based recovery in 2015. The
Organization for Economic Co-operation and Development (OECD) expects world output to
grow 3.9 percent in 2015.
The unemployment rate will hover around 4.0 percent in 2015 as continued improvement in
the labor market will encourage people to return to the labor force. In the fall of 2014 the Weld
County unemployment rate fell to 3.6%, which is the lowest in years. Economic activity will
continue to gain momentum in 2015. Although growth slowed in 2013 relative to 2012,
significant improvements occurred in major sectors of the economy, placing the economy on
healthier footing for stronger expansion in the coming years. The labor market continued to
incrementally improve, while gains in the housing market and residential construction helped
drive growth.
The Colorado economy continued to improve through 2013 and growth is expected to
accelerate into 2014 and 2015. The labor market added jobs throughout the year, with
especially strong growth in the private sector. The unemployment rate is falling while wages and
salaries are rising. Inflationary pressures will be moderate as long as the unemployment rate
stays elevated. Inflation in Colorado is expected to be 2.8 percent in 2014 and 2.4 percent in
2015.
The Weld County economy continues to be one of the strongest in the state. The unemployment
rate continues to decline, consumer spending continues to outpace the rest of the state, housing
permits continue to grow at a rapid rate, and nonresidential construction has maintained
strength. Oil and gas exploration, as measured by the number of rigs operating in the region,
continues to thrive. Growth in the county's labor market remains steady. Weld County, booming
because of the oil and gas exploration in the Niobrara shale formation, had the largest increase
in employment in the United states between December 2012 and December 2013, according to
the U.S. Bureau of Labor Statistics. The county's economic output grew 10.1 percent from 2012
to 2013, putting Weld County at No.2 in the nation for GDP growth. Weld County's GDP was
$7.3 billion in 2008, and has grown steadily to $8.59 billion in 2013, or 17.7 percent, according
to the Bureau of Economic Analysis numbers. The driver of growth has been the oil and gas
development.
The northern Colorado region's real estate market continues to be vibrant New residential
construction permits for all properties were up 37.7 percent in the Greeley area on a year -over -
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year basis in 2014. While prices are projected to continue to rise in 2015 growth may not be as
rapid as in 2014, as increasing interest rates may dampen the market. The value of
nonresidential projects continues to grow. This, along with housing growth, has also helped
maintain steady growth in construction jobs for the region's labor market. In Weld County, the
majority of projects were for commercial and education facilities. Retail sales continue to be
strong in Weld County. Consumer spending has outperformed the state.
Oil and gas development in Weld County continued to thrive. Throughout 2014, rig counts
across the region steadily increased, even as the overall number operating in Colorado
declined. This increase was the result of relatively high oil prices and the continued success of
plays in the Wattenberg field within the Denver-Julesburg Basin. In January 2014, there were 47
rigs operating in the region, accounting for 76 percent of the 62 total rigs in the state. However,
since the beginning of 2015 the drilling activity has declined with the major drop in oil prices.
Due to the efficiencies of the wells in the Denver-Julesburg Basin production has remained level
even with the drop in oil prices. Because of the two year lag from production to assessment of
oil production the drop in oil prices will not impact the county's 2016 budget, but will impact 2017
significantly.
LONG-TERM FINANCIAL PLANNING
There are a number of future issues and concerns that will be impacting Weld County's budget
in 2015 and subsequent fiscal years. The continued impact of oil and gas development in the
county touches on many aspects of Weld County currently, and in planning for the future. The
energy development presents both challenges and opportunities for Weld County government.
As has been the case for the last four to five years, growth and development activity directly, or
indirectly, related to oil and gas exploration seems to be the main economic driver in the
majority of positive economic activities in Weld County. The County has seen several
compressor stations, injection wells, new pipelines, and other oil and gas support and service
industries seeking permits. Given the commitments of the large oil and gas companies in Weld
County, the County seems primed to see considerable long-term investment and development
in the oil and gas arena. Although the future of energy development in Weld County appears
bright, it is not without risks. Oil and gas production in Colorado has risks associated with the
potential of more government regulations and voter initiatives trying to restrict or limit fracking in
Colorado communities. These regulatory risks, if implemented, could dramatically impact future
oil and gas development in Colorado.
The volatility of the oil and gas assessed values continues to be a major impact to the County's
budget planning the last five years. For the 2015 budget, the growth in the county's assessed
value from oil and gas values will exceed 28%. Oil and gas assessed valuation will be over
three -fifths of the county's total assessed valuation. Because of the volatility of production levels
and price fluctuations of the oil and gas values, the county must continue to prudently manage
the increased property tax base created by the energy development. In February, 2012, staff
developed and the Board of Weld County Commissioners approved the Strategic Investment
Plan for the Future of Weld County. The purpose of the Strategic Investment Plan for the
Future of Weld County was to provide the Board of Weld County Commissioners an analysis of
the optional uses of the projected property tax revenues from the new oil and gas development
in Weld County. The option selected was to develop a long term strategy of investment in the
county's infrastructure, technology and innovation, staff training and development, economic
development for diversification of the local economy, and to establish a fluctuation reserve to
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deal with the volatility of the peaks and valleys in energy prices and production. If the projected
energy production figures materialize eventually, even with the long term investment strategy
with the Weld County Home Rule Charter 5% property tax limitation and TABOR limitation lower
property tax rates will result for all taxpayers in Weld County.
While the growth in the County's assessed value and economic stimulus of the energy industry
in Weld County is positive, the downside is the County will have to add significant resources to
the Public Works budget again in 2015 to accommodate heavy hauling traffic, address safety
issues, and improve roads impacted by the oil and gas industry's heavy hauling on county roads
due to new exploration. A five-year Public Works Capital Improvement Plan will continue to be
updated annually and will ensure a fair and reasonable determination of project priorities in
accordance with the county's overall transportation needs, especially in dealing with the impact
of energy development in the county. A significant long term project will be the capital
improvements to the WCR 49/47 Corridor South from SH 34 to 1-76 and North from WCR 60.5
(SH 263) to SH 392 over the next five years requiring over $25 million per year to fund the road
improvements. To accomplish the project, a funding level of $25 million per year for five years is
required. Thus, added property tax resources will have to be included in the Public Works Fund
in 2015-2019. The schedule and plan approved by the Board on March 5, 2014, is as follows:
CIP
2014
2015
2016
20"1'`�:,,
2019
4
CR 49 South
US 34 to CR
36 (10 miles)
Design/ROW
Design/ROW
Construction
Construction
CR 36 to I-76
(10 miles)
Design/ROW
Design/ROW
Construction
Construction
CR 47 North
CR 60.5 - SH
392 (3.5
miles)
Design/ROW
Design/ROW
Construction
Construction
Investing in technology and innovation will continue to be a priority in Weld County. In February,
2014, Weld County opened its new state -of the -art regional communication center to serve all
public safety agencies in Weld County. January 1, 2014, Weld County terminated the
outsourcing contract for information technology services with Xerox and now provides those
services with county employees under the leadership of a new Chief Information Officer. This
change is a strategic decision to improve technology services, increase customer satisfaction
and provide accountability for IT related projects. The new organizational structure will allow the
department to be dynamic and flexible as technology continues to be an integral part of our daily
work lives. This organizational support framework will provide Weld County a model for IT
support success. It blends additional resources for both technical and leadership positions and
provides a strong focus on creating a team environment. The change creates a county
department that will embrace project management, customer service, and still retain the
technical focus that is needed for an organization to be dynamic enough to meet the day-to-day
activities, but also be innovative and forward thinking. The County's goal is to provide a reliable,
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integrated information services environment that meets not only today's needs for
communication and business efficiency, but positions the County to leverage new technology
innovations and best practices for business transformation and improved service delivery in the
future.
Weld County continues to invest in training and staff development as part of its Strategic
Investment Plan for the Future of Weld County. A full time county training coordinator position
has been added to the Human Resources Department. A comprehensive training catalogue of
training opportunities for Weld County employees has been developed, and the training
sessions will be offered throughout the year with the goal of providing training to every county
employee. A management and supervisor program has been developed and will be offered
annually. In an era of rapid change, the need for knowledgeable, active, and engaged
employees will be greater than ever. The county must continue to attract and sustain a highly
qualified workforce that is responsive to the needs of the community now and in the future.
Building a skilled and adaptable workforce requires that the county continue to recruit qualified
employees and provide competitive salary and benefit packages. Sustaining such a workforce
includes ongoing training, professional development, and engagement in succession planning.
Employees must be encouraged to become adaptable, take initiative, and keep skills current
through organization -wide initiatives and ongoing departmental efforts.
The Strategic Investment Plan for the Future of Weld County calls for the county to have the
long term vision to diversify the economic base and assessed value base of the county to
become less dependent upon oil and gas assessed values. Investment in economic
development for the diversity of the local economy will lay a solid foundation for long-term
economic growth in the county and allow Weld County to be competitive in retaining and
attracting quality companies and a labor force to support those companies. Innovative economic
development initiatives must bring together the synergy that Weld County has, such as, no
sales tax, low property tax rates, leveraging of oil and gas assessed value to nurture other
economic development, use of the natural gas and wind power in the area to provide low cost
electricity, and having an infrastructure that is strategically situated for the location of
businesses and high technology installations of the future. Weld County has to focus on
investing rather than spending in order to ensure long-term economic prosperity, not only while
the energy boom is happening, but when it eventually ends. To accomplish long-term economic
prosperity and maintain the county's strong fiscal health Weld County must use its financial
resources to drive innovation to foster more productive, inclusive, and sustainable growth by
better use of the assets and creativity of the county and our private partners, such as the
Niobrara Energy Park. This could mean looking at current economic development incentives,
such as personal property tax credits, and providing infrastructure to accommodate new
companies in innovative and creative ways. Weld County is fortunate that it has the financial
resources to initiate, direct, and implement innovative economic development ideas when the
opportunities present themselves.
Beginning in 2010, to cope with the volatility of the oil and gas assessed values due to
variations in price and production that cause increases and decreases in the resulting property
tax levels it was decided to create a fluctuation reserve (Contingency Fund) where funds are
added to the reserve in years where the assessed value is greater and withdrawn from the
reserve in years where the assessed value from oil and gas is down. Such a fluctuation reserve
allows time to adjust to permanent changes, and guarantee a stable property tax revenue
stream to fund county programs. The fund balance of the Contingency Fund is approximately
$35 million. Reserves are the cornerstone of financial flexibility. Reserves provide a government
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with options for responding to unexpected issues and buffer against shocks and other forms of
risk. Managing reserves, however, can be a challenge. The main question is how much money
to maintain in reserve - how much is enough, and when does it become too much? This can be
a sensitive question, since money held in reserve is money taken from constituent, and it can be
argued that excessive reserves should be returned to citizens in the form of lower taxes.
In light of the Weld County's volatile property tax revenue base due to the high percentage of oil
and gas assessed value and the fact that it cannot easily increase taxes to compensate for
other changes in its financial condition, due to TABOR and the Home Rule Charter restricting
tax increases without a vote of the people, it is prudent that Weld County balances the need for
the reserve and a property tax rate cut. The county must analyze the factors that influence the
level of reserves the county needs to hedge against uncertainty and loss. The primary risks are
volatility of property tax revenue due to oil and gas assessed valuation fluctuations; and extreme
events such as floods, and to a lesser extent, snowstorms. Secondary risks factors include cash
flow and unexpected spikes in expenditures.
The volatility of property tax revenue due to oil and gas assessed valuation fluctuations has a
two year window to manage the situation due to the lag in the time of production to payment of
taxes. A drop in price of oil and gas often results in a drop in production. Looking back over a
10-20 period the swing can be as much as a 40% drop in production value. Based upon this one
risk the county could justify a $50-60 million reserve. Infrastructure risks from a failed bridge
could approach $5 million. Extreme event risk, such as the 2013 flood, assuming FEMA
assistance of 75%, could approach $10-15 million for one event. Adding all these risks up the
county can justify a $65-80 million reserve among all of its funds. Counting the reserves in the
General Fund, Public Works Fund, and Contingency Fund Weld County is well positioned, but
must continue to monitor and add to the reserves to accommodate inflationary trends and other
changing conditions.
In 2015, with the increase in the assessed valuation Weld County reached its TABOR and
Home Rule property tax limitation and will have to lower the mill levy by over one mill to 15.800
mills. For a number of years Weld County has given a temporary property tax credit equal to
the difference of the limit of 22.038 mills and the 15.800 mills used to fund the budget. The
biggest risk that the county would run in reducing the mill levy without having an eye on the
future is the volatility of the price and production levels of oil and gas. Prior to the drop in oil
prices in late 2014 to $40 per barrel one only has to look back to the 2008-2009 production
years when the average annual price of oil went from $90.03 per barrel to $50.87 per barrel,
and the average annual natural gas went from $6.94 per mcf to $3.21 mcf. Production levels
can also have big swings due to the economy, governmental regulation changes, and demand
caused by weather changes. The temporary tax credit has allowed Weld County to deal with the
volatility of the oil and gas price and production. Even though the Board of Weld County
Commissioners could legally reduce the temporary tax credit and raise the net mill levy above
the 15.800 mills in a year with a significant drop in assessed value there is a political reluctance
to do so, because there would be a perception by many taxpayers that their property taxes were
raised. The option of simply reducing the property tax of taxpayers is tempting, but until the tax
limitations are reached this option may be shortsighted and eliminate long term financial options
that ensure long term financial viability for Weld County. However, in 2015, the property tax
limits will dictate the reduction in the county mill levy by over one mill to 15.800.
In summary, as Weld County elected officials and managers approach future budget processes
there will be the continuation of the long-term strategy of investment in the county's
10
Honorable Board of Commissioners
infrastructure, technology and innovation, staff training and development, and economic
development to diversify the local economy which will all have a demonstrable long-term payoff.
In addition, the financial reserves of the county are adequate at this time to deal with the
volatility of the oil and gas assessed values and the risks faced by the county. The 2015 Budget
Plan is a continuation of Weld County's historical discipline of fiscal stability. The commitment to
the discipline of fiscal stability has enabled Weld County to remain solvent and responsive in an
uncertain economic environment and provide the services the public needs and expects.
Adherence to conservative and prudent fiscal management practices have enabled the county
to maintain balanced budgets and stable reserves, implement proactive strategies to manage
county programs, avoid debt entirely through cash financing of capital projects, and provide core
services to residents.
RELEVANT FINANCIAL POLICIES
The major factors impacting the County's financial planning continue to be dominated by the oil
and gas development in Weld County, state and federal budget issues, service restructuring in
Weld County government, and the execution of the Strategic Investment Plan for the Future of
Weld County.
As discussed earlier there are plenty of reasons to feel good about the economic prospects of
Weld County. In fall unemployment was at 3.8%. Unemployment was the lowest level in years
and below the state as a whole for the first time in more than five years. Forbes Magazine
ranked the Greeley area as No. 4 in the nation for projected job growth. The magazine projected
jobs in this area would grow at 3.8 percent annually. In June, a study done by the U.S.
Conference of Mayors predicted the Greeley area's economy would grow at 4.8 percent through
2020. Much of the recent growth, both in jobs and economic activity, comes from the oil and gas
industry. The bulk of the job growth of 4,800 in the second quarter of this year came from oil and
gas (2,500). Beside the oil and gas industry Vestas, which has plants in Windsor and Brighton,
has announced they will add 800 new jobs, and the dairy industry, driven by Leprino Foods, has
continued its surging growth. All are signs that the county has come through the challenging
economic times with budgets that remain strong and a business climate that remained friendly.
As has been the case for the last three to four years growth and development activity directly, or
indirectly, related to oil and gas exploration seems to be the main economic driver in the
majority of positive economic activities in Weld County. The County has seen several
compressor stations, injection wells, new pipelines, and other oil and gas support and service
industries seeking permits. Given the commitments of the large oil and gas companies in Weld
County, the County seems primed to see considerable long-term investment and development
in the oil and gas arena.
The volatility of the oil and gas assessed values continues to be a major impact to the County's
budget planning the last five years. For the 2015 budget, oil and gas assessed values are up
1.838 billion dollars with a 47.12 percent increase. The drop in oil prices to $40 per barrel in
late 2014 and continuing into 2015 will not impact the 2016 budget, but will significantly impact
the 2017 budget. As we approach the 2016 budget process the drop in assessed valuation for
the 2017 budget will be taken into account in order to accommodate the drop in property tax
revenues in 2017 budget. As pointed out in the 2015 Budget Plan and For the Future section
while the growth in the County's assessed value and economic stimulus of the energy industry
in Weld County is positive, the downside is the County will have to add significant resources to
the Public Works budget again in 2015 to accommodate heavy hauling traffic, address safety
11
Honorable Board of Commissioners
issues, and improve roads impacted by the oil and gas industry's heavy hauling on county roads
due to new exploration. On May 20, 2014, the Board approved the design/build option for the
WCR 47/49 Corridor at a total cost of $125 million. It will require a cash flow mechanism of
advancing funds to the Public Works Fund in 2015-2016 from the Contingency Fund and Capital
Expenditure Fund to be repaid in 2017-2018. Savings should be realized by design/build in
three years reducing the $125 million estimated costs. The WCR 47 north portion will bid as an
optional bid in the same package or an option to add onto the bid at the end of the construction:
2015 is shaping up to be a year of significant change for the Weld County Department of
Human Services. Internally, the department is putting the final touches on the implementation of
its up -front document imaging system and evaluating the level of success achieved through
various departmental staff reorganizations. Externally, the department will continue to
participate in the state-wide Title IV -E (Foster Care and Adoption Assistance Entitlement Grant)
Waiver Project, designed to provide permanent connections for children entrusted to the
department's care, expanding the scope of the project to include trauma -informed care services.
Counties in Colorado will likely take on the responsibility of determining eligibility for all Medicaid
applicants, including those previously served through a state-wide vendor, due to their choice to
apply on-line for Medical services, only. This and other issues arising from implementation of
the Affordable Care Act (ACA) will continue to drive the need toward more innovation and
efficiencies within the Assistance Payments Division of the Department. The passage of HB 14-
1317 will produce noticeable changes in the delivery of Child Care services throughout the
State. It strips away many of the tools counties previously had to control costs and stay within
budget, leaving Waiting Lists as a last resort tool. Weld County has historically avoided the use
of such Waiting Lists, because they tend to reward those residents who apply early for
assistance, while leaving others who may be at greater need for those services behind, simply
because of their relative delay in applying. Finding ways to abide by the requirements of this Act
while, at the same time, maintaining a fair and equitable means of delivering services will be
one of the department's most significant planning challenges.
Finally, for the third year the Strategic Investment Plan for the Future of Weld County
recommendations are incorporated into the 2015 Budget. The plan calls for developing a long-
term strategy of investment in the County's infrastructure, technology and innovation, staff
training and development, economic development for diversification of the local economy, and
establishing a fluctuation reserve to deal with the volatility of the peaks and valleys in energy
prices and production.
AWARDS AND ACKNOWLEDGEMENTS
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement
for Excellence in Financial Reporting to the County for its Comprehensive Annual Financial
Report for the fiscal year ended December 31, 2013. This was the thirty-second year that the
County has received this prestigious award. In order to be awarded a Certificate of
Achievement, the County published an easily readable and efficiently organized Comprehensive
Annual Financial Report. This report satisfied both generally accepted accounting principles
and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement
12
Honorable Board of Commissioners
Program's requirements and we are submitting it to the GFOA to determine its eligibility for
another certificate.
In addition, the County also received the GFOA's Award for Distinguished Budget Presentation
for its 2014 annual appropriated budget for over thirty consecutive years. In order to qualify for
the Distinguished Budget Presentation Award, the County's budget document was judged to be
proficient in several categories including policy documentation, financial planning, and
organization.
Financial reports are valuable in that they provide a permanent historical record of a
governmental agency's operation to the management and the general public. It is our belief that
this is a comprehensive report of the 2014 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, 2014. The preparation of this report
could not be accomplished without the efficient and dedicated services of the entire staff of the
Accounting/Finance Department. I should like to express my appreciation to all members of the
department who assisted and contributed to its preparation. I would also like to thank the
members of the Board of County Commissioners for their interest and support in planning and
conducting financial operations of the County in a responsible and progressive manner.
Respectfully submitted,
Aiddikiiksien
Donald D. Warden,
Director of Finance and Administration
13
G�9
Government Finance Officers Association
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, 2013
ofterStso
Executive Director/CEO
14
WELD COUNTY HOME RULE GOVERNMENT
County Citizens
Assessor
County
Council ,
Board of County
iCommAsioners
Sheriff
Corrections, Law Enforcement,
Animal Control, Forensic Lab.
Task Force, Code Enforcement
Clerk and
Recorder
Recording, Motor Vehicle, Elections
County
Attorney
Department of
Finance and
Administration
Commissioner
Coordinator
3
Accounting
Budget
Capital Projects
Contract Administration
Grant Administration
Finance Division
Human Resources
Printing and Supply
Risk Management
Special Projects
Treasurer's Office
Clerk to the Board
Housing Authority
Department of
Public Health and
Environment
Commissioner
Coordinator
Health Administration
Environmental Health
y Public Health Services
Health Communication,
Education and Planning
Board of Public Health
General Services
Coroner
Justice Services
Purchasing
Communications
Public Safety IT
Information Services
GIS and Mapping
Phone Services
Department of
Public Works
Commissioner
Coordinator
Engineering
Road and Bridge
Buildings and
Grounds
Veterans Services
Office of
Emergency
Management
Department of
Planning Services
Commissioner
Coordinator
i
Planning and Zoning
Building Inspection
Board of Adjustment
International Building Code
Planning Commission
Utility Board
County Extension
Office
Fair Board
Red - Elected
Positions
Department of
Human Services
Commissioner
Coordinator
Human Services
Social Services
AAA
Child Support
Assistance Payments
Child/Adult Protection
Employment Services
COUNTY OF WELD
STATE OF COLORADO
PRINCIPAL COUNTY OFFICIALS
December 31, 2014
Board of County Commissioners
Douglas Rademacher
Barbara Kirkmeyer
Sean Conway
Mike Freeman
William Garcia
County Clerk and Recorder
Steve Moreno
County Assessor
Christopher M. Woodruff
County Sheriff
John Cooke
Director of Finance & Administration
Don Warden
Controller
Barbara Connolly
Treasurer
John R. Lefebvre, Jr.
16
FINANCIAL
SECTION
11/44p McGee, Hearne & Paiz, LLP
Certified Public Accountants and Consultants
Certified Public Accountants and Consultants
314 West 18th Street, Cheyenne, Wyoming 82001-4404
INDEPENDENT AUDITOR'S REPORT
Board of County Commissioners
Weld County, Colorado
Greeley, Colorado
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate discretely presented component units and remaining fund
information of Weld County, Colorado (the "County") as of and for the year ended December 31, 2014, and the
related notes to the financial statements, which collectively comprise the County's basic financial statements as
listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial
statements that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the
financial statements of Weld County Housing Authority (the "Authority"), whose assets totaled $2,247,375 and
whose revenues totaled $2,657,283 of the aggregate discretely presented component units and remaining fund
information. Those statements were audited by other auditors whose report has been furnished to us, and our
opinion, insofar as it relates to the amounts included for the Authority, is based solely on the report of the other
auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States
of America and the standards applicable to financial audits contained in Government Auditing Standards, issued
by the Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express
no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
in our opinion, based on our audit and the report of other auditors, the financial statements referred to above
present fairly, in all material respects, the respective financial position of the governmental activities, the
business -type activities, each major fund, and the aggregate discretely presented component units and remaining
fund information of the County as of December 31, 2014, and the respective changes in financial position and,
where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally
accepted in the United States of America.
17
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's
discussion and analysis on pages 19 through 26, the schedules of funding progress and employer contributions,
the condition assessments of infrastructure, and the budgetary comparison information on pages 73 through 88
be presented to supplement the basic financial statements. Such information, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate operational,
economic, or historical context. We and other auditors have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States of
America, which consisted of inquiries of management about the methods of preparing the information and
comparing the information for consistency with management's responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do not
express an opinion or provide any assurance on the information because the limited procedures do not provide
us with sufficient evidence to express an opinion or provide any assurance.
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the County's basic financial statements. The accompanying supplementary information (the
combining and individual nonmajor fund financial statements, nonmajor fund budgetary comparison
information, Local Highway Finance Report, and schedule of expenditures of Federal awards, as required by
U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non -Profit
Organizations), introductory section and statistical tables are presented for purposes of additional analysis and
are not a required part of the basic financial statements.
The accompanying supplementary information is the responsibility of management and was derived from and
relates directly to the underlying accounting and other records used to prepare the basic financial statements.
Such information has been subjected to the auditing procedures applied in the audit of the basic financial
statements and certain additional procedures, including comparing and reconciling such information directly to
the underlying accounting and other records used to prepare the basic financial statements or to the basic
financial statements themselves, and other additional procedures in accordance with auditing standards generally
accepted in the United States of America by us and other auditors. In our opinion, based on our audit, the
procedures performed as described above, and the report of the other auditors, the accompanying supplementary
information is fairly stated, in all material respects, in relation to the basic financial statements as a whole,
The introductory section and statistical tables have not been subjected to the auditing procedures applied in the
audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance
on it.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 29, 2015, on our
consideration of the County's internal control over financial reporting and our tests of its compliance with
certain provisions of laws, regulations, contracts and grant agreements, and other matters. The purpose of that
report is to describe the scope of our testing of internal control over financial reporting and compliance and the
results of that testing, and not to provide an opinion on the internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the County's internal control over financial reporting and compliance.
/714, �c_:J `� u'►'
Cheyenne, Wyoming
June 29, 2015
18
Management Discussion and Analysis
This section of the report provides readers with a narrative overview and analysis of the financial activities of Weld County for
the fiscal year ended December 31, 2014. We encourage readers to consider the information presented here in conjunction with
the letter of transmittal and basic financial statements to enhance their understanding of the County's financial performance.
FINANCIAL HIGHLIGHTS
• Weld County's assets exceeded liabilities and deferred inflows of resources by $474.4 million at the end of 2014. Of this
amount, $66.2 million may be used to meet the government's ongoing obligations to citizens and creditors. The
remaining $405.2 million is invested in capital assets or restricted by law_
• The County's General Fund balance was $23.5 million as of December 31, 2014. Of this amount, $0.7 million for non -
spendable assets, $7.7 million is restricted; $2.1 million committed for economic development; $1.6 million for
encumbrances. The remaining $11.4 is available to meet the ongoing obligation to citizens and creditors.
• The 2014 General Fund of balance of $23.5 is 19.9% of 2014 General Fund operating expenditures plus net operating
transfers. The County Commissioners' goal is to keep fund balance at no less than 5%. The Board has not budgeted any
expenditures from the fund balance in 2015.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the County's basic financial statements. The basic
financial statements contain three components: 1) government -wide financial statements, 2) fund financial statements, and 3)
notes to the financial statements. In addition to the basic statements, this report also contains other supplementary information
including combining statements for non -major funds, a statistical section, and information regarding federal grant programs.
Government -wide Financial Statements. The government -wide. financial statements are designed to provide readers with a
broad overview of the County's finances in a manner similar to a private sector business.
The statement of net position presents information on all of the County's assets, deferred outflows of resources, liabilities, and
deferred inflows of resources with the remaining difference reported as net position. Over time, increases or decreases in net
position may serve as a useful indicator of whether the County's financial position is improving or deteriorating.
The statement of activities presents information showing how the government's net position changed during the fiscal year. All
changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of
related cash, flows. Thus, revenues and expenses are reported in the statement for some items that will only result in cash flows
in future fiscal periods (e.g., uncollected taxes).
Both of the government -wide financial statements distinguish functions of the County that are principally supported by taxes
and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant
portion of their costs through user fees and charges (business -type activities). Weld County's governmental activities include
general government, public safety, streets and highways, health and welfare, auxiliary, culture and recreation, and economic
assistance. The County has one business type activity — operation of the regional forensic laboratory.
The government -wide financial statements include not only Weld County itself (known as the primary government), but also
legally separate entities which have a significant operational or financial relationship with the County. These entities, known as
blended component units, include local improvement districts, Finance Corporation, Weld County Retirement Plan, Pioneer
Law Enforcement Authority, Southwest Weld Law Enforcement Authority and Beebe Draw Law Enforcement Authority.
Discretely presented component units are Housing Authority and F-91 1 Emergency. More information on the functions of these
entities can be found in Note 1 to the financial statements_
Fund financial statements. A fund is a grouping of related accounts that is used to maintain control over resources that have
been segregated for specific activities or objectives_ Weld County, like other state and local governments, uses fund accounting
to ensure and demonstrate compliance with finance -related legal requirements_ All of the funds of Weld County can be divided
into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds arc used to account for essentially the same functions reported as governmental
activities in the government -wide financial statements. However, unlike the government -wide financial statements,
governmental fund financial statements focus on near -term inflows and outflows of spendable resources, as well as on balances
of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's
near -term financing requirements.
19
Because the focus of governmental funds is narrower than that of the government -wide financial statements, it is useful to
compare the information presented for governmental fiends with similar information presented for governmental activities in the
government -wide financial statements. By doing so, readers may better understand the long-term impact of the government's
near -term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues,
expenditures, and changes in field balances provide a reconciliation to facilitate this comparison between governmental funds
and governmental activities.
Weld County maintains eleven individual governmental funds. Information is presented separately in the governmental funds
balance sheet and in the governmental funds statement of revenues, expenditures, and changes in find balances for the General
Fund, Public Works Fund, Social Services Fund, Human Services Fund, Capital Expenditures, and Contingent Fund, all of
which are considered to be major funds. Data from the other five funds are combined into a single, aggregated presentation.
Individual fund data for each of these nonmajor funds is provided in the form of combining statements elsewhere in this report,
The basic governmental fund financial statements can be found on pages 30 through 36 of this report.
Proprietary funds. Weld County maintains two different types of proprietary funds. Enterprise fiends are used to report the
same functions presented as business -type activities in the government -wide financial statements. Weld County has one
enterprise fund, the Northern Colorado Regional Forensic Laboratory. internal service, funds are an accounting device used to
accumulate and allocate costs internally among the County's various functions. Weld County uses internal service finds to
account for its fleet maintenance, phone services, Weld Finance Corporation, and self insurance activities. Because these
services predominantly benefit governmental rather than business -type functions, they have been mostly included within
governmental activities in the government -wide financial statements.
Proprietary fiords provide the same type of information as the government -wide financial statements, only in more detail. The
proprietary field financial statements provide separate information for the Northern Colorado Regional Forensic Laboratory
Fund, an enterprise fund of the County. The remaining proprietary funds, all of which are internal service funds, are combined
into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for each of these non -
major funds is provided in the form of combining statements elsewhere in this report.
The basic proprietary fund financial statements can be found on pages 37 through 39 of this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government.
Fiduciary funds are not included in the government -wide financial statements because the resources of these funds are not
available to support Weld County's own operations. The accounting used for fiduciary funds is much like that used for
proprietary funds.
The basic fiduciary fund financial statements can be found on page 40 through 41 of this report.
Budgetary Comparisons. Weld County adopts an annual appropriated budget for all of its fiords. A budgetary comparison
statement has been provided for all major funds on pages 77 to 88 of this report. Budget to actual comparisons for each of the
non -major funds are provided in other schedules elsewhere in this report.
Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data
provided in the government -wide and fiord financial statements. The notes to the financial statements can be found on pages
43 through 72 of this report.
Other information. The combining statements referred to earlier in connection with non-majorgovernmental funds and internal
service fiords are presented following the notes to the financial statements and can be found on pages 94 through 104 and
110 through 121 respectively.
20
COUNTY -WIDE FINANCIAL ANALYSIS
Net Position. As noted earlier, net position may serve over time as a useful indicator of a government's financial position. As
of December 31, 2014, assets and deferred outflows exceeded liabilities and deferred inflows by $474.4 million.
The following table provides a summary of the County's governmental and business -type net assets for 2013 and 2014.
Table 1
Net Position
(in Millions)
Assets
Current and other assets
Capital assets
Total assets
Liabilities
Current and other liabilities
Long-term liabilities
Total liabilities
Deferred Inflows
Property Taxes
Total Deferred Inflows
Net Position
Invested in capital assets
Restricted
Unrestricted
Total net position
Governmental
Activities
2013 2014
$ 286.45 $ 350.21 $
270.07 297.89 _
$ 556.52 $ 648.10 $ - $
Business -type
Activities
2013 2014
Total
2013 2014
- $ 286.45 $ 350.21
- 270.07 297.89
- $ 556.52 $ 648.10
$ 16.79 $ 21.07 $ - $ - $ 16.79 $ 21.07
8.94 8.10 8.94 8.10
$ 25.73 $ 29.17 25.73 29.17
119.99 $ 144.54
119.99 $ 144.54
$ 270.08 $ 297.89 $
81.96 110.32
58.76 66.20
- $ 119.99 $ 144.54
- $ 119.99 $ 144.54
$ 410.80 $ 474.41 $
270.08 $ 297.89
81.96 110.32
58.76 66.20
$ 410.80 $ 474.41
A portion of Weld County's net position (14.0%) represents unrestricted net position of $66,20 million, which may be used to
meet the County's ongoing obligations to citizens and creditors.
Another significant portion of the County's net position (62,8%) reflects its investment in capital assets. These assets include
land, buildings, machinery, equipment and infrastructure. These capital assets are used to provide services to citizens;
consequently, they are not available for future spending. Although the investment in capital assets is reported net of related
debt, it should be noted that the resources needed to repay this debt must be provided from other sources since the capital assets
themselves cannot be used to liquidate these liabilities.
An additional $110.32 million of the County's net position (23.3%) represents resources that are subject to external restrictions
on how they may be used. Included in this category is the TABOR emergency reserve of $7,00 million, $4.73 million in
reserves for insurance claims, $8.10 million for health, economic and social assistance programs, $89,43 for road and bridge
maintenance and $1.06 million for other purposes.
At the end of 2014 Weld County had positive balances in all three categories of net position,
Changes in Net Position Governmental and Business -type activities increased the County's net position by $63.61 million in
2014. The following table indicates the changes in net position for governmental and business -type activities in 2013 and 2014.
21
Changes in Net Position
(in Millions)
Revenues
Program revenues:
Charges for services
Operating grants and contributions
General revenues:
Property taxes
Other taxes
Other revenues
Total revenues
Expenses
General government
Public safety
Streets and highways
Culture and recreation
Health & Welfare
Economic Assist
Paramedic services
Total expenses
Increase (decrease) in net position
before Transfers
Transfers
Net Position Beginning
Net Position Ending
Governmental
Activities
2013 2014
Business -type
Activities
2013 2014
$ 51.70 $ 59.30 $ 0.00 $
32.28 30.44 0.07
105.94 115.69 0.00
9.64 14.38 0.00
22.61 37.78 0.00 _
$ 222.17 $ 257.59 $ 0.07 $
$ 43.46 $ 46.77 $
47.90 54.03
39.96 42.89
1.51 1.79
38.79 39.09
8.48 9.41
0.00 0.00
180.10 193.98
0.00 $
0.00
0.00
0.00
0.00
0.00
0.07
0.07
Total
2013 2014
0.00 $ 51.70 $ 59.30
0.15 32.35 30.59
0.00 105.94 115.69
0.00 9.64 14.38
0.00 22.61 37.78
0.15 $ 222.24 $ 257.74
0.00 $ 43.46 $ 46.77
0.00 47.90 54.03
0.00 39.96 42.89
0.00 1.51 1.79
0.00 38.79 39.09
0.00 8.48 9.41
0.15 0.07 0.15
0.15 180.17 194.13
42.07 63.61 0.00 0.00 42.07
0.00 0.00 0.00 0.00 0.00
368.73 410.80 0.00 0.00 368.73
$ 410.80 $ 474.41 $ 0.00 $ 0.00 $ 410.80
63.61
0.00
410.80
$ 474.41
Governmental Activities. Governmental activities increased Weld County's net position by 863.61 million in 2014. Key
elements of this increase are as follows:
• Total revenues were up $35.42 million, 15.94% from the prior year, primarily due to increase in property taxes ($9.75
million) other taxes ($4.74 million) other general revenue ($15A7 million) and charges for services ($7.60 million).
• Expenses totaled $193.98 million. This represents a 7.71% increase, with the majority of increases in general
government ($3.31 nvllion), public safety ($6.13 million), and streets and highways ($2.93 million). Expenditrues for
health and welfare ($0.30 million), economic assistance ($0.93 million) and culture and recreation ($0.28 million) had
small increases in 2014.
Business -Type Activities. The County's only business -type activity, Northern Colorado Regional Forensic Laboratory, net assets
did not changeas a result of 2014 activities, The crime lab began operations in August of 2013 and all operating expenditures
were reimbursed by grant funds.
22
FINANCIAL ANALYSIS OF THE COUNTY'S FUNDS
As noted earlier, Weld County uses fiend accounting to ensure and demonstrate compliance with finance -related legal
requirements.
Governmental Funds Overview. The focus of County governmental funds is to provide information on near -term inflows,
outflows, and balances of spendable resources. Such information is useful in assessing the County's financing requirements. In
particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the
end of the fiscal year.
As of the end of 2014, the combined ending fund balance of County governmental funds was $166.27 million. Of this amount
the approximately $1.94 million represents an investment in non -spendable items (51.33 million inventory, and $0.61 million in
prepaid expenses). Another $93.53 million of fund balance is restricted use for emergencies (S7.00 million) public works
($77.83 million) health, welfare and economic assistance ($7.65 million), and other programs ($1.05 million). Fund balance
committed to economic development ($2.11 million), capital projects ($18.64 million), contingencies (534.99 million) and
environmental conservation ($2.04 million) is S57.78 million. Another $1.58 million is assigned to budget appropriations and
$11.44 million is unassigned to continue providing services to the general public.
The County has six major governmental funds. These are 1) General Fund; 2) Public Works Fund; 3) Social Services Fund; 4)
Human Services Fund; 5) the Contingent Fund; 6) Capital Expenditures Fund.
1. General Fund. This is the primary operating fund of the Weld County Government. It accounts for many of the
County's core services, such as law enforcement, planning, and elections. The general fund balance was 523.48
million as of December 31, 2014, an increase over the $21.57 fund balance as of December 31, 2013, General fund
revenes for property taxes, licenses permits and fees, and charges for service all increased in 2014. This increase in
revenues was offest by increases in all categories of expenditures. Operating transfers out increased slightly in 2014.
As a measure of the general fund's liquidity, it may be useful to compare both unassigned fund balance and total fund
balance to total fund expenditures. Unassigned fund balance represents 10.33% of total 2014 expenditures, while total
find balance is 21.20% of the same amount.
2. Public Works Fund. The Public Works Fund is also state mandated. The fund records costs related to County road and
bridge construction and maintenance. The Public Works Fund had $79.04 million in fund balance at the end of 2014.
This amount was $26.72 million more than the previous year. Revenues in the Public Works fund were up in 2014
with a major increase from the reassignment of oil and gas lease revenue to the fund the cost of the haul route program
(HARP), and an increase in property revenue.
3. Social Services Fund. The Social Services Fund is mandated by State Statute. This fund accounts for the local share of
many Federal and State public welfare programs. The fund carried a $3.61 million balance at the end of 2014 up 50.37
from its balance in 2013 due to an increased state allocation for child welfare programs.
4. Human Services Fund. The Human Services Fund accounts for various Federal and State human services grants.
Primary finding agencies are DOL, HHS, and CSA.
5. Contingent Fund. The Contingent Fund records any property tax revenue levied by the Board of County
Commissioners to cover reasonable unforeseen expenditures. The fund balance decreased by $0.01 million in 2014
from property taxe revenue of 54.9 million and transfers out of $5.0 million.
6. Capital Expenditure Fund. The Capital Expenditure Fund accounts for the construction of major capital facilities.
These are the construction of graders sheds, back-up dispatch center, and CNG fueling stations, upgrade of
communications towers, and the lining of gravel pits for water storage.
PROPRIETARY FUNDS OVERVIEW
The County's proprietary fund statements provide the same of information found in the government -wide statements, but in
more detail.
The County has one enterprise -type fund, The Northern Colorado Regional Forensic Laboratory. The crime lab began
operations in August of 2013 and all operating expenditures were reimbursed by grant funds.
Weld County has four internal service funds. Information on these funds is aggregated in the Proprietary Fund financial
statements.
23
GENERAL FUND BUDGETARY HIGHLIGHTS
Comparison of Total Fund Balances as of December 31, 2013 and 2014
C
O
26
10
General Fund
Public Works
Social Services
Human Services
Contingent Fund
Capital Projects
Other Govt. Funds
2O13
2014
The County's budget is prepared according to Colorado statutes. The most significant budgeted fund is the General Fund.
In December of 2013, the Board of County Commissioners appropriated $110.28 million for general find expenditures and
other financing uses for 2014.
Table 3
2014 General Fund Budget
(in Millions)
Original
Budget Amendments Final Budget Actual
Revenue and other financing sources $ 109.61
Expenditures and other financing uses $ 110.28
$ 9.27 $ 118.88 $ 119.94
$ 14.96 $ 125.24 $ 118.03
24
During 2014 mid -year budget amendments included:
• $1.1 million for the engineering design work for WCR 49
• $.05 million transferred to Insurance Fund for claim reserves
• $1.9 million transferred to Motor Pool Fund for additional equipment
• $1.0 million transferred to Capital Expenditure Fund for purchase of property in downtown Greeley
• $3.5 million for communications equipment
• $1.8 mullion for unanticipated grants, including flood recovery
• Supplemental appropriations were made to various departments for salary and benefit reallocations.
The increase was possible because of excess fund balance, various departments under spending their budgets, and additional
unanticipated revenues. Those revenues include building permits ($1.2 million), intergovermental revenues (S4.1 million) and
charges for services ($1.6 million).
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets. Weld County's investment in capital assets for its governmental and business type activities as of December 31,
2014 totals S297.89 million (net of accumulated depreciation). This investment includes all land, buildings, machinery,
equipment, intangible assets and infrastructure. Total capital assets increased 10.3% in the current fiscal year.
Major capital asset events during the current fiscal year include the following:
• Road construction or major improvements totaling $15.51 million.
• Lining of gravel pits for water storage $4.5 million
• Upgrade of communications towers $7.3 million
• New grader sheds S0.7 million
• Purchase of Downtown Greeley land $1.55 million
• Purchase of the Chase Plaza in Greeley $5.775 million
The County implemented the "depreciation method" under GASB 34 for its road and bridge infrastructure assets, except for the
gravel roads, where the "modified approach" was used. The County's policy is to maintain gravel roads at a condition of fair or
better. This level of condition is being maintained consistently on over 97% of miles of road.
Additional information on the County's capital assets can be found in Note 6 of this report. Construction commitments are
discussed in Note 11.
Long-term Debt. At December 31, 2014, Weld County had no outstanding long-term debt or debt from Certificates of
Participation (COP). The last COP was paid off early on August 1, 2007.
The Weld County Home Rule Charter provides for a general obligation debt limit of 3% of assessed valuation. The county had
a general obligation debt capacity of S273.90 million in 2014. The county currently has no debt subject to the limitation. No
new debt was issued in 2014.
Additional information on Weld County's debt can be found in Note 8.
25
Other Matters. The following factors are expected to have a significant effect on the County's financial position or results of
operations and were taken into account in developing the 2015 budget.
• Complete road and bridge permanent repairs and mitigation projects resulting from the September, 2013 flooding .
• Continue implementation of the Strategic Investment Plan for the Future of Weld County.
• Fund the oil and gas revenue fluctuation reserve in the Contingency Fund
• Fund innovation and technology projects identified
• Effective January 1, 2014, perform all county information technology functions with county staff, instead of by use of
ACS contract services
• Implement a countywide training program with a Trainer position in Human Resources
• Implement a criminal justice planning function in the county
• Implement a Restorative Justice Program in the District Attorney's Office for juvenile offenders
• Add a Pre -Trial Specialists to accommodate HI3 13-1236 changes to jail bonding criteria
• Add seven positions in the North Jail to open up 54 additional inmate beds
• The Weld County Regional Communications Center (WCRCC) will move to a new organizational structure with Weld
County operating the WCRCC and dispatching all public safety agencies in the county, including City of Greeley Police
and Fire
• Participate in the Title IV -E (Foster Care and Adoption Assistance Entitlement Grant) waiver project
• Accommodate the impacts of the Affordable Care Act on Medicaid eligibility applicants
• Add two additional Planning positions to accommodate new development
• Implement a small business development incentive program
• Continue to fluid a Haul Route Program (HARP) to improve county roads impacted by the energy industry due to new
oil and gas drilling exploration
• Fund current and past administrative costs of the Weld County Retirement Plan.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of Weld County's finances for all those with an interest in the
government's finances. Questions concerning any of the information provided in this or for additional financial information
should be addressed to the Director of Finance and Administration, 1 150 O Street, Greeley, CO 80631. Request for additional
information regarding the Housing Authority should be addressed to Toni Teixeira, Executive Director, Weld Housing
Authority, 903 6th Street, Greeley, CO 80631.
26
BASIC
FINANCIAL
STATEMENTS
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Position
December 31, 2014
ASSETS
Cash and investments
Property taxes receivable
Receivables (net of allowance)
Dues from other governements
Internal balances
Inventories
Other assets
Net other post employment benefits assets
Restricted assets:
Cash and equivalents
Capital assets not being depreciated
Capital assets net of depreciation
Total assets
LIABILITIES
Accounts payable and other current liabilities
Accrued liabilities
Due to other governments
Unearned Revenue
Other liabilities
Long-term liabilities:
Due within one year:
Compensated absences
Due in more than one year:
Compensated absences
Net pension obligation
Total liabilities
Primary Government
Component Units
Governmental Business -Type
Activities Activities
$ 190,475,200 $
144,313,856
9,475,399
2,755,203
35,578
1,390,987
672,055
652,454
443,607
38,713,409
259,179,566
36,157
(35,578)
Total
Housing E911
Authority Authority
190,475,200 $ 1,366,074 $ 760,501
144,313,856
9,511,556
2,755,203
1,390,987
672,055
652,454
443,607
38,713,409
- 259,179,566
648,107,314
579
DEFERRED INFLOWS OF RESOURCES
Property Taxes
Total Deferred Inflows of Resources
NET POSITION
Invested in capital assets
Restricted for:
Programs
Emergencies
Claims
Public Works
Other purposes
Unrestricted
Total net position
9,395,621
8,552,073
37,387
2,843,321
4,380
233,470
3,770,944
4,325,159
29,162,355
144,538,384
857,595 311,404
1,284
14,525
7,897 3,698,198
648,107,893 2,247,375 4,770,103
9,395,621
8,552,073
37,387
2,843,321
4,380
233,470
3,770,944
4,325,159
29,162,355
- 144,538,384
144.538,384
- 144.538.384
297,892,975
8,104,172
7,000,000
4,734,409
89,429,234
1,049,628
66, 196,157
$ 474,406,575
See accompanying notes to the basic financial statements
- 297,892,975
52,545
14,853
25,013
67,398
25,013
7,897 3,698,198
- 8,104,172 - -
- 7,000,000 - -
- 4,734,409 -
- 89,429,234 - -
- 1,049,628
579 66,196,736 2,172,080 1,046,892
$ 579 $ 474,407,154 $ 2,179,977 $ 4,745,090
27
COUNTY OF WELD
STATE OF COLORADO
Statement of Activities
Year Ended December 31, 2014
Program Revenues
Primary government:
Governmental activities:
General Government
Public Safety
Streets and Highways
Health and Welfare
Culture and Recreation
Economic Assistance
Total governmental activities
Business -type activities
Regional Forensic Laboratory
Total primary government
Component units:
Housing Authority
E-91 1 Authority
Total component units
Expenses
$ 46,770,013
54,027,026
42,894,441
39,085,217
1,792,648
9,408,488
193,977,833
Charges for
Services
$ 13,477,033
13,229,980
5,825,407
25,04 1,461
1,154,300
567,753
59,295,934
Operating
Grants and
Contributions
Capital Grants
and
Contributions
$ 2,263,342 $
3,499,909
14,237,862
2,850,676
409,938
7,181,132
30,442,859
147,713 149,615
$194,125,546 $ 59,295,934 $ 30,592,474 $ -
$ 2,806,923 $ 33,872 $ 2,614,740 $
3,982,290 2,335,328
$ 6,789,213 $ 2,369,200 $ 2,614,740 $ -
GENERAL REVENUES
Taxes:
Property taxes
Specific ownership
Severance/Tobacco
Royalties
Miscellaneous
Unrestricted investment earnings
Total general revenues and transfers
Changes in net position
Net position - beginning
Net position - ending
See accompanying notes to the basic financial statements
28
Net (Expenses) Revenue and
Changes in Net Position
Primary Government
Governmental
Activities
Business -type
Activities
$ (31,029,638) $
(37,297,137)
(22,831,172)
(11,193,080)
(228,410)
(1,659,603)
(104,239,040)
1,902
$ (104,239,040) $
115,694,397
10,028,385
4,350,529
31,503,068
4,807,802
1,473,338
167,857,519
63,618,479
410,788,096
$ 474,406,575
Total
$ (31,029,638) $
(37,297,137)
(22,831,172)
(11,193,080)
(228,410)
(1,659,603) _
(104,239,040)
1,902
Component Units
Housing £911
Authority Authority
$
1,902 $ (104,237,138) $ - $
115,694,397
10,028,385
4,350,529
31,503,068
4,807,802
1,473,338
167,857,519
1,902 63,620,381
(1,323) 410,786,773
579 $ 474,407,154
(158,311) $ -
- (1,646,962)
(158,311) $ (1,646,962)
8,671 14,420
8,671 14,420
(149,640) (1,632,542)
2,329,617 6,377,632
$ 2,179,977 $ 4,745,090
COUNTY OF WELD
STATE OF COLORADO
Governmental Funds
Balance Sheet
December 31, 2014
ASSETS
Cash and Investments
Receivables (net of allowance for uncollectibles):
Property taxes receivable
Delinquent property taxes
Accounts
Special Assesment
Due From other County Funds
Advances to Other Funds
Due From other Governements
Inventory
Other Assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
Accrued Liabilites
Other Liabilities
Due to other County funds
Due to other Goverments
Unearned Revenues
Unexpended Grant revenue
Total Liabilities
Deferred Inflows of Resources:
Property Taxes
Grant Revenue
Total Deferred Inflows of Resources
Fund Balances:
Nonspendible
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
General Fund
$ 28,252,718
116,838,133
39,795
1,231,985
125,490
36,157
66,060 1,412,731
122,439 1,211,219
560,938 40,740
$ 147,273,715 $ 105,457,746 $ 13,245,332
Public Works
Fund
$ 80,775,009
Social Services
$ 2,825,406
8,591,845
4,687
337,651
3,557,718
2,250,915
65,209
64,068
797,329
6,735,239
117,059,781
117,059381
683,377
7,671,021
2,105,601
1,581,113
11,437,583
23,478,695 79,042,733 3,610,053
$ 147,273,715 $ 105,457,746 $ 13,245,332
16,789,874
5,321
6,637,297
30,000
9,026
4,079,462
352,294
34,534
26,666
4,492,956
16,821,329
5,100,728
21,922,057
1,211,219
77,831,514
32,272
192,542
785,524
4,380
2,342
37,387
3,200
1,025,375
8,609,904
8,609,904
40,740
3,569,313
See accompanying notes to the basic financial statements
30
Other Total
Human Contingent Capital Governmental Governmental
Services Fund Expenditure Funds Funds
$ 236,344 $ 34,988,751 $ 19,510,889 $ 4,946,780 $ 171,535,897
3,217
1,276,412
3,470 4,240
qmp
- 142,219,852
- 57,513
1,217,441 9,427,591
30,000
276 167,064
36,157
2,755,203
1,333,658
1,526 603,204
$ 1,515,973 $ 34,992,221 $ 19,515,129 $ 6,166,023 $ 328,166,139
142,420
146,648
33,351
434,662
757,081
3,470
842,611 51,124 8,865,877
236,333 3,771,714
4,380
31,628 167,064
37,387
128,834 222,768
- 1,231,991
874,239 416,291 14,301,181
4,240
- 142,498,724
- 5,100,728
3,470 4,240 - 147,599,452
- - 1,526 1,936,862
758,892 - - 3,705,217 93,535,957
34,988,751 18,636,650 2,042,989 57,773,991
- - - - 1,581,113
- - - - 11,437,583
758,892 34,988,751 18,636,650 5,749,732 166,265,506
$ 1,515,973 $ 34,992,221 $ 19,515,129 $ 6,166,023 $ 328,166,139
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of Total Governmental Fund Balances To Statement of Net Position
December 31, 2014
Total governmental fund balances
Amounts reported for governmental activities in the Statement of activities are different because:
Capital Assets used in governmental activities are not financial resources and therefore are not reported in
the funds
Long-term liabilities, including compensated absences, are not due and payable in the current period
and therefore are not reported in the funds
Compensated Absences
Net Pension Obligation
Net Other Post Employment Benefits Asset
Accounts receivables that do not provide current financial resources, are offset by deferred inflows in the
funds
Internal service funds are used by mangement to charge the costs of insurance and other services to
individual funds_ The assets and liabilities of the internal service funds are included in governmental
activities in the statement of net position
Internal Services used by Enterprise Fund
$ 166,265,506
277, l 85,724
(4,004,414)
(4,325,159)
652,454
5,100,728
33,532,315
579
Net position of governmental activities $ 474,406,575
See accompanying notes to the basic financial statements
32
33
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
Year Ended December 31, 2014
Public Works
General Fund Fund Social Services
REVENUES:
Taxes
Licences and Permits
Intergovernmental
Fines and Forfitures
Charges for Services
Miscellaneous
Fees
Total Revenues
EXPENDITURES:
General Governement
Public Safety
Public Works
Public Health and Welfare
Culture and Recreation
Econominc Assistance
Capital Expenditures
Total Expenditures
Excess of Revenues Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers - in
Transfers - out
Total Other Financing Sources (Uses)
Net Changes in Fund Balance
Fund Balances at Beginning of Year
Fund Balance at End of Year
See accompanying notes to the basic financial statements
$ 82,740,957 $
4,873,283
8,1 19,546
332,404
7,168,378
5,999,921
10,618,619
119,853,108
25,627,740 $ 8,420,796
561,063
14,949,885 23,020,426
2,099,273
34,003,378
1,381,800
78,623,139 31,441,222
47,388,166
51,897,506
3,330,619 56,449,853
233,945
1,389,355
1,834,353
4,673,165
451,343
30,955,815
147,426
110,747,109 56,901,196 31403,241
9,105,999 21,721,943
85,000 5,000,000
7,286,814
(7,20"1,814) 5,000,000
1,904,185 26,721,943
337,981
31,361
31,361
369,342
21,574,510 52,320,790 3,240,711
$ 23,478,695 $ 79,042,733 $ 3,610,053
34
Capital
Human Services Contingent Fund Expenditure
Other
Governmental
Funds
- $ 4,989,437 $ 8,231,942 $
7,180,352
366,795
138,755
7,685,902
7,736,989
6,296
7,743,285
749,856
202,363
4,989,437 9,184,161
90,868
10,672,786
10,763,654
(57,383) 4,989,437 (1,579,493)
12,351
31,361 5,000,000
1,400,000
(19,010) (5,000,000) 1,400,000
(76,393)
(10,563) (179,493)
835,285 34,999,314 18,816,143
$ 758,892 $ 34,988,751
$ 18,636,650
Total
Governmental
Funds
20,614 $
3,244,173
18,980
3,389,775
173,422
6,846,964
141,205
8,250,132
404,589
12,379
8,808,305
(1,961,341)
4,441,746
1,052,283
3,389,463
1,428,122
130,031,486
5,434,346
56,514,382
351,384
13,024,221
41,065,332
12,202,782
258,623,933
47,479,034
52,038,711
59,780,472
39,439,892
1,793,944
9,571,342
15,963,395
226,066,790
32,557,143
10,970,458
13,370,458
(2,400,000)
30,157,143
4,321,610 136,108,363
$ 5,749,732 $ 166,265,506
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Governmental Funds to the Statement of Activities
Year Ended December 31, 2014
Net Changes in fund balances - total governmental funds $ 30,157,143
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement of activities the
cost of those assets is allocated over their estimated useful lives and reported as depreciation
expense. This is the amount by which capital outlay exceeded depreciation in the current period.
Capital asset additions
Depreciation expense
Excess of capital outlay over depreciation
51,519,877
(22,142,551)
29,377,326
Net effect of various transactions involving capital assets (i.e. sales, disposals) is a decrease to net
position (1,791,317)
Some expenses reported in the Statement of Activities do not require the use of current financial
resources and therefore are not reported as expenditures in governmental funds
Compensated absences
Net Pension Obligation
Net Other Post Employment Benefits Obligation
(435,595)
1,282,681
285,570
Accounts receivables that do not provide current financial resources, are offset by deferred inflow of
resources in the funds (91,001)
Internal service funds are used by mangement to charge the costs of certain activities, such as insurance,
telecommunications and fleet services, to individual funds. The net revenue (expense) of certain internal
service funds is reported with governmental activities.
4,835,574
Internal services used by Enterprise Funds (1,902)
Change in net position of governmental activities $ 63,618,479
See accompanying notes to the basic financial statements
36
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Position
Proprietary Funds
December 31, 2014
ASSETS
Cash and cash equivalents
Property taxes receivable
Accounts
Due From other County Funds
Inventory
Other Assets
Total Current Assets
Capital Assets:
Improvements other than buildings
Construction in progress
Buildings
Machinery and Equipment
Accumulated Depreciation
Total Capital Assets
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities:
Accounts Payable
Accrued Liabilites
Unearned Revenues
Adv from General Fund
Total Current Liabilities
Deferred Inflows of Resources
Property Taxes
Total Deferred Inflows
Total Liabilities
Net Position
Invested in capital assets
Restricted for:
Insurance Claims
Unrestricted
Total Net Position
Some amounts reported for business -type activities in
the statement of net assetsare different because certain
internal scrvicefund assets and liabilities are included
with business -type activities
Total Net Position
See accompanying notes to the basic financial statements
Business -type
Activities
Regional
Forensic
Laboratory
36,157
36,157
36,157
36,157
36,157
36,157
579
579
Governmental
Activities
Internal Service
Funds
$ 19,382,910
2,036,491
17,808
57,329
68,851
21,563,389
1,131,815
36,000
2,048,377
43, 146,437
(25,655,378)
20,707,251
42,270,640
529,744
4,780,359
1,388,562
6,698,665
2,039,660
2,039,660
8,738,325
20,707,251
9,157,022
3,668,042
$ 33,532,315
37
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenue, Expenses and
Changes in Net Position
Proprietary Funds
For the Fiscal Year Ended December 31, 2014
Operating revenues:
Employer Contributions
Charges for Services
Total Operating Revenues
Operating expenses:
Personnel Services
Supplies
Purchased Services
Insurance and Bonds
Depreciation
Other
Claims
Total operating expenses
Operating income (loss)
Nonoperating revenues (expenses):
Taxes
Earnings on investments
Miscellaneous
Grants
Gains (loss) on Disposal
Judgement and Damages
Total Nonoperating revenues (expenses)
Income (loss) before contributions or transfers
Transfers - in
Changes in Net Position
Total Net Position Beginning of Year
Total Net Position at End of Year
Some amounts reported for business -type activities in the
statement of activities are different because the net
revenue (expense) of certain internal service funds is
reported with business -type activities.
Change in net position of business -type activities
See accompanying notes to the basic financial statements
Business -type
Activities
Regional
Forensic
Laboratory
Governmental
Activities
Internal
Service Funds
- $ 17,395,414
- 10,892,770
- 28,288,184
6,211
140,596
2,808
149,615
(149,615)
149,615
149,615
239,057
2,451,704
6,704,881
457,299
3,819,627
255,560
14,633,063
28,561,191
(273,007)
1,994,934
29,314
14,997
41,305
489,632
138,399
2,708,581
2,435,574
2,400,000
4,835,574
28,696,741
- $ 33,532,315
1,902
$ 1,902
38
COUNTY OF WELD
STATE OF COLORADO
Statement of Cash Flows
Proprietary Funds
For the fiscal year ended December 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers
Cash flows from internal customers
Cash payments to external suppliers for goods and services
Cash payments to internal suppliers for goods and services
Cash payments to employees for services
Judgements/damages/losses
Miscellaneous revenues
Net cash provided (used) by operating activities
CASHFLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes
Transfers/Advances
Grants
Net cash provided (used) by noncapital financing activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Proceeds from sale of capital assets
Net cash provided (used) for capital and related
Financing activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of operating income to net cash
provided by operating activities:
Operating income (loss)
Adjustments to reconcile operating income to
net cash provided by operating activities:
Depredation expense
Judgements/damages/losses
Miscellaneous revenue
Change in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in due from other funds
(Increase) decrease in inventories
(Increase) decrease in other assets
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in other liabilities
Increase (decrease) in deferred revenue
Total adjustments
Net cash provided (used) by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Loss on Disposal of Asset
See Accompanying notes to the basic financial statements
See accompanying notes to the basic financial statements
Business -type
Activity
Enterprise Fund
Regional Forensic Laboratory
Governmental
Activites
Internal
Service Funds
(32,542)
(117,073)
(149,615)
(35,662)
185,277
149,615
(149,615)
(149,615)
128,897
28,024,807
(23,067,271)
(916,604)
(71,529)
138,399
14,997
4,251,696
1,994,445
2,400,000
1,055,793
5,450,238
(4,185,536)
618,287
(3,567,249)
29,314
6,163,999
13,218,911
19,382,910
(273,007)
3,819,627
138,399
14,997
25,060
5,949
39,852
334,692
(396,104)
520,796
(35,612)
57,047
4,524,703
4,251,696
33,604
39
COUNTY OF WELD
STATE OF COLORADO
Statement of Fiduciary Net Position
Fiduciary Funds
December 31, 2014
Weld County
Other Post
Employment
Agency Funds Retirement Benefits
ASSETS
Cash and cash equivalents $ 9,157,630 $
Accounts Receivable (net of allowance for uncollectible): 1,484
Restricted Assets
Restricted Cash
Restricted Investments
Total Assets
LIABILITIES AND NET POSITION
Accounts Payable
Due to other Goverments
Total Liabilities
Net Position Restricted for Pension
Held in Trust for Other Post Employment Benefits
TOTAL NET POSITION
See accompanying notes to the basic financial statements
- $
- 1,487,182 1,809,955
183,678,468
$ 9,159,114 $ 185,165,650 $ 1,809,955
$ 189,544 $ 17,766 $
8,969,570
$ 9,159,114 $ 17,766 $
185,147,884
1,809,955
$ 185,147,884 $ 1,809,955
40
COUNTY OF WELD
STATE OF COLORADO
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Fiscal Year Ended December 31, 2014
Weld County
Other Post
Employment
Retirement Benefits
Additions:
Employer Contributions
Employee Contributions
Earnings on Investments, net of investment
related expenses of $382,190 and SO
Net Depreciation in Value of investments
Reimbursment of Prior Years Expenditures
Total Additions
Deductions:
Actuarial Fees
Benefit Payments
Supplies
Total Deductions
Change in Net Assets
Net Postion - Beginning
Net Position - Ending
See accompanying notes to the basic financial statements
$ 7,179,487 $
7,179,473 94,185
15,550
7,325,729
4,807,036
10,007,475
36,499,200 109,735
96,991
13,593,270 577,738
3,850
13,694,111 577,738
22,805,089 (468,003)
162,342,795 2,277,958
$ 185,147,884 $ 1,809,955
41
NOTES TO THE FINANCIAL STATEMENTS
42
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Note 1 - Summary of Significant Accounting Policies:
The County of Weld, Colorado ("County") was established in 1861, and on January 1, 1976, became a home rule county
under the provisions of Section 30-35-501, CRS, 1973. The County operates under an elected commissioner form of
government. The County provides the full range of services contemplated by statute or charter. These include general
goverrunent functions, public protection and safety, health, social services, human resource services, public
improvements, road and bridge operations, planning and zoning, and general administrative services.
The financial statements of the County have been prepared in conformity with generally accepted accounting principles
(GA AP) as applied to governmental units. The following summary of significant accounting policies is presented to
assist the reader in evaluating the County's financial statements.
A. Reporting Entity:
Weld County is a political subdivision of the State of Colorado, governed by an elected five -member Board of County
Commissioners. There are also four other elected officials of Weld County (Assessor, Clerk and Recorder, District
Attorney, and Sheriff).
The accompanying financial statements present the government and its component units, entities for which the
government is considered to be financially accountable. Blended component units, although legally separate entities, are,
in substance, part of the government's operations. Each discretely presented component unit is reported in a separate
column in the government -wide financial statements (see note below for description) to emphasize that it is legally
separate from the government.
Discretely presented component units:
The Weld County Housing Authority is responsible for assisting Weld County residents with housing assistance. The
Board of County Commissioners appoints all of the five -member Housing Authority Board, The County has the ability
to remove any of the appointed board members, they can modify decisions made by the board and can hire or fire
persons responsible for the day to day operations. The Weld County Housing Authority is governed by state regulations,
but was designated as part of the County for budgetary and audit purposes by an act of the Colorado General Assembly
in 1989. A complete set of financial statements can be obtained at the entity's administrative offices:
Weld County Housing Authority
903 6th Street
Greeley, CO 80631
The E911 Emergency Telephone Service Authority Board was created by intergovernmental agreements pursuant to
Article 11 of Title 29, C.R.S., as amended, that authorizes the county, municipalities within the county, and special
districts within the county to enter into an agreement for the purpose of providing 911 emergency telephone services.
Per the state statute cited above, the agreement creates a separate legal entity which is responsible for administering the
operations of the 911 emergency telephone service program in Weld County. The authority board consists of seven
members with four selected by the Weld County Commissioners, one member each is selected by the City of Greeley,
City of Fort Lupton and Weld County Sheriff. Under the by-laws of E911 Authority, Weld County is required to pay all
operating costs. They are to maintain all accounts and have accounts audited. State statute requires that all funds be
maintained by the Weld County Treasurer. The operation of the E911 authority is done contractually by the Weld
County Communication Regional Center. There are no separate financial statements prepared for the E911 component
unit.
43
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Because they provide services to or otherwise benefit Weld County, the financial statements of the following
organizations are blended into the County financial statements:
Weld County Retirement Plan — The Retirement Board consists of five members, two selected by participating
employees, two appointed by the Board of County Commissioners, and the fifth being the County Treasurer, The
County funds half of the retirement plan, which covers substantially all permanent, full-time employees of Weld
County. The operation of the plan is accounted for in the Weld County Retirement Fund, as a Pension Trust
Fund, Complete Financial statements can be obtained at the Weld County Treasurer's Office:
Weld County Treasurer's Office
1400 North 17th Avenue
Greeley, CO 80631
Weld County Finance Corporation — The Weld County Finance Corporation ("Corporation") was formed in 1987
as a not -for-profit corporation under section 501(c)(4)of the Internal Revenue Code, and exists solely to acquire
real estate and construct buildings for lease to the County. The Board of County Commissioners appoints the
three -member Board of Directors of the Corporation, and approves all projects undertaken by the Corporation.
The members of the Board of Directors are employees of the County. There are no separate financial statements
prepared for the Weld County Finance Corporation.
The Law Enforcement Authorities (LEA) were formed in accordance with Section 30-11-401, CRS. The law
enforcement authorities are taxing units created by the county to provide additional law enforcement services by
the county sheriff to residents in developed unincorporated areas of the county. The governing board of the law
enforcement authorities is the five Weld County Commissioners. Law enforcement services to the authority are
provided contractually by the county sheriff There are no separate financial statements prepared for the Law
Enforcement Authorities.
The Local Improvement Districts (LID) have not been included in the County's financial statements individually,
as they are immaterial, but are included as a blended component unit of Public Works, a special revenue fund.
The Board of County Commissioners can create these assessment districts to construct or rehabilitate and finance
public streets, storm drainage, water systems, sanitary sewer, or street lighting. The Primary purpose of an LID is
to assess the costs of public improvements to those who are specially benefited by the improvement. The LID
exists only as geographic area within which improvements are constructed and as an administrative subdivision
of the county. Having no board of directors, they do not operate in any capacity as an independent governmental
entity. The county governing board, Board of County Commissioners, makes all decisions on behalf of this
administrative entity. There are no separate financial statements prepared for the Local Improvement Districts.
The following related organizations are excluded from the accompanying financial statements because the County's
accountability for these organizations does not extend beyond various appointments.
North Colorado Medical Center — The Board of County Commissioners owns land underlying the main facility of
the Medical Center, which land is currently leased to the Colorado Hospital Finance Authority as part of the
security for financing the bonded indebtedness of the Medical Center. The indebtedness is not an obligation of
the Board of County Commissioners and no taxpayer funds or Board of County Commissioners funds are
obligated to pay any portion of the principal, premium or interest on the Bonds. The land is leased back from the
Authority to the Board of Trustees, a seven member Hospital Board of Trustees appointed by the Board of
County Commissioners. The Hospital Board of Trustees has entered into an operating sublease of the ground and
facilities with NCMC, Inc., a 501(c)(3)entity, with three of its members also serving on the Board of Trustees,
which, in turn, has contracted with Banner Health Systems to operate the Medical Center. NCMC has the ability
to incur its own debt and its operations are financed totally by patient revenues.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
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.
Colorado Counties Casualty and Property Pool (hereinafter referred to as "CAPP")-CAPP was formed July 1,
1986, by an intergovernmental agreement by member counties as a separate and independent governmental and
legal entity pursuant to the provisions of Article XIV, Section 18(2) of the Colorado Constitution and Section 29-
1-201 et seq, 24-10-115.5, and 29-13-102, CRS, as amended. Each member county in this intergovernmental
agreement has the power under Colorado law to make provision for the property and casualty coverage which
constitute the functions and services jointly provided by means of the CAPP. The Insurance Commissioner of the
State of Colorado has such authority with respect to the CAPP as is provided by applicable Colorado statutes.
The purposes of the CAPP are to provide a risk management fund for defined property and casualty coverage and
to assist members in controlling costs by providing specialized governmental risk management services and
systems.
It is the intent of the members to use member contributions to defend and indemnify, in accordance with the
bylaws, any member against states liability or loss to the limit of the financial resources of the risk management
fund. It is also the intent of the members to have CAPP provide needed coverage at reasonable costs. All income
and assets of CAPP shall be at all times dedicated to the exclusive benefit of its members. Weld County, through
its Insurance Internal Service Fund, recognizes an expense for the amount paid to CAPP annually for these
coverages.
Weld County is a charter member of CAPP and has been a continuous member since July 1, 1986_
B. Government -wide Financial Statements
The County's basic financial statements consist of government -wide statements, including a statement of net position
and a statement of activities, and fund financial statements which provide a more detailed level of financial information.
The government -wide focus is more on the sustainability of the County as an entity and the change in aggregate financial
position resulting from activities of the fiscal period.
The statement of net position and the statement of activities display information about the county as a whole. In the
government -wide statement of net position, both the governmental and business -type activities columns are presented on
a consolidated basis by column. These statements include the financial activities of the primary government, except for
fiduciary activities. For the most part, the effect of interfund activity has been removed from these statements.
Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately
from business -type activities, which rely to a significant extent on fees and charges for support.
The government -wide statement of activities reflects both the direct expenses and net cost of each function of the
County's governmental activities and business -like activity. Direct expenses are those that are clearly identifiable with a
specific function. Program revenues include charges paid by the recipient for the goods or services offered by the
program. Direct expenses and program revenues resulting from interfund activity are treated as such in the participating
funds and are not eliminated as part of the consolidation process. Grants and contributions that are restricted to meeting
the operational or capital requirements of a particular program and interest earned on grants that is required to be used to
support a particular program are included in operating grants and contributions, or capital grants and contributions.
Revenues which are not classified as program revenues are presented as general revenues of the County, with certain
limited exceptions. The comparison of direct expenses with program revenues identifies the extent to which each
government function or business segment is self-financing or draws from the general revenues of the County.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Fund Financial Statements
The financial transactions of the County are recorded in individual funds. A fund is defined as a fiscal and accounting
entity with a self balancing set of accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures or
expenses, as appropriate. Separate statements for each fund category — governmental, proprietary, and fiduciary — are
presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a
separate column. All remaining governmental and enterprise funds are aggregated and presented as non -major funds.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and
expenses generally result from providing services and producing and delivering goods in connection with a proprietary
fund's principal ongoing operations. The principal operating revenues of the Northern Colorado Regional Forensic
Laboratory enterprise fund and of the government's internal service funds are charges to customers for sales and
services. Operating expenses for enterprise funds and internal service funds include the cost of sales and services,
administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are
reported as nonoperating revenues and expenses.
C. Measurement Focus
Government -wide, Prorietary and Fiduciary Fund Financial Statements
The government -wide financial statements are reported using the economic resources measurement focus and the accrual
basis of accounting, as are the proprietary fund and fiduciary fund statements. Revenues are recorded when earned and
expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the County gives (or receives) value without directly receiving (or giving) equal
value in exchange, include property taxes, grants, and donations. Revenues from property taxes are recognized in the
fiscal year for which the taxes are levied. Revenue from grants and donations is recognized in the fiscal year in which all
eligibility requirements have been satisfied
Under the terms of grant agreements, the County funds certain programs by a combination of specific cost -
reimbursement grants, categorical block grants, and general revenues. Thus, when program expenses are incurred, there
are both restricted and unrestricted net assets available to finance the program. It is the County's policy to first apply
cost - reimbursement grant resources to such programs, followed by categorical block grants, and then by general
revenues.
Governmental fund financial statements are reported using the current financial resources measurement focus and the
modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available.
Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to
pay liabilities of the current period. For this purpose, the government considers revenues, except for property taxes, to
be available if they are collected within 90 days of the end of the current fiscal period. Property taxes are considered
available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded
when a liability is incurred, as under accrual accounting. However expenditures related to compensated absences and
claims and judgments, are recorded only when payment is due.
Property taxes, licenses, grants, and interest associated with the current fiscal period are all considered to be susceptible
to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments
receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.
All other revenue items are considered to be measurable and available only when cash is received by the government.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
The County reports the following major governmental funds:
The General Fund is the general operating fund of the County which accounts for all financial resources that are
not accounted for in other funds. Operations of the County such as public safety, planning and zoning, property
valuation, tax collection and distribution, vehicle licensing, County administration, and other activities financed
from taxes and general revenues are reflected in this fund.
The Public Works Fund records costs related to County road and bridge construction and maintenance except for
engineering, which is recorded in the General Fund. By State law, Colorado counties are required to maintain a
Road and Bridge Fund and a portion of road and bridge taxes is allocated to cities and towns for use in their road
and street activities.
The Social Services Fund administers human services programs under state and federal regulations. Programs
include, but are not limited to, Medicaid, Food Stamps, Foster Care programs, and Temporary Assistance to
Needy Families (TANF). Colorado counties are required by state law to maintain a Social Services Fund. The
Social Service fund is funded by state and federal grants as well as property taxes.
The Human Services Fund primary programs are associated with the Workforce Investment Act (WIA) funded
under the Department of Labor, Employment and Training Administration.
The Contingent Fund records any property tax revenue levied by the Board of County Commissioners to cover
reasonably unforeseen expenditures_
The Capital Expenditures Fund accounts for all the County's construction projects. The County chooses to use
the pay as you go plan instead of debt. Property taxes are used to fund the Law Enforcement Center and the
expansion of the Detention Center.
The County reports the following enterprise fund:
The Northern Colorado Regional Forensic Laboratory Fund accounts for all of the maintenance and operation
costs for the Northern Colorado Regional Forensic Laboratory. It is funded by rent paid by the participating
agencies.
The County also reports the following fund types:
The Internal Service Funds account for the financing of goods or services provided by one department or agency
to other departments or agencies of the County on a cost reimbursement basis. The County's internal service
funds report on self-insurance programs for employee health, dental and vision benefits, risk management,
unemployment, fleet services, telecommunications and acquisitions of real estate and construction of buildings
used by County departments.
Services provided and used by internal services funds are not entirely eliminated from the government -wide
statement of activities. The primary government program expenses and expenses for the business -type activities
on the government -wide statement of activities are decreased to eliminate revenue over expenditures in service
funds where revenues exceed expenditures and increased to eliminate internal service funds that have
expenditures in excess of revenues.
The Agency Funds account for assets held by the County as an agent for individuals, private organizations and
other governments. These funds are custodial in nature (assets equal liabilities) and do not involve measurement
of results of operations. The County has funds held for other local governmental units, employee/employer
payroll taxes, a Section 125 plan, and the Weld County Federal Mineral Lease District.
The Fiduciary Trust Funds account for the activities of the Weld County Retirement Plan and the Weld County
Other Post Employment Benefit Plans. These funds accumulate resources for pension benefit, and other post
employment benefit payments to qualified county employees. The Plans use the accrual basis of accounting.
Employee and employer contributions are recognized as revenues in the period in which the contributions are
due. Benefits and refunds are recognized when due and payable in accordance with terms of the Plan.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
D. Assets, liabilities, and net assets or equity
1. Deposits and investments
The Weld County Treasurer maintains a cash and investment pool that is available for use by all County funds except for
some agency funds. Accrued interest receivable is displayed separately. The amount of interest gained through secured
investments is credited to the County's General Fund per Colorado State Statutes, with the exception of the
Conservation Trust, Capital Expenditures Fund, Liability Insurance Fund and E-911 Authority. "Cash and cash
equivalents" for the General Fund Conservation Trust, Capital Expenditures Fund, Liability Insurance Fund and E-911
Authority are stated at fair value. Any bank accounts not maintained by the Treasurer are displayed as "Restricted
Assets" within the appropriate fund and are stated at cost.
The County considers cash and cash equivalents in proprietary funds to be cash on hand and demand deposits. In
addition, because the treasury pool is sufficiently liquid to permit withdrawal of cash at any time without prior notice or
penalty, equity in the pool is also deemed to be a cash equivalent.
For the purpose of cash flows, cash and cash equivalents are determined by original maturity of three months.
Investments are reported at fair values using quoted market prices.
2. Property Taxes
Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on December 22, 2014, and
are payable either in two installments due on February 28 and June 15 or in full on April 30. The bill becomes
delinquent on March 1, May 1, and June 16 and penalties and interest may be assessed by the County_ The County,
through the Weld County Treasurer, bills and collects its own property taxes, as well as property taxes of all other taxing
authorities within the County. In accordance with Section 14-7 of the Weld County Home Rule Charter, all ad valorem
tax levies for County purposes, when applied to the total valuation for assessment of the County, shall be reduced so as
to prohibit the levying of a greater amount of tax revenue than was levied from ad valorem taxation in the preceding year
plus five percent (5%), except to provide for the payment of bonds and interest. The Board of County Commissioners
may submit the question of an increased levy to the County Council and, if in the opinion of a majority of the County
Council may grant an increased levy for the County in such amount as it deems appropriate, and the County is
authorized to make such increased levy.
Any one capital project requiring a capital expenditure out of funds procured by ad valorem taxation equal to a three
mill levy for three years, shall be prohibited unless approved by a majority vote of the qualified electors at a general or
special election per Section 14-8 of the Weld County Home Rule Charter.
3. Interfund Transactions
Transactions between funds that would be treated as revenues, expenditures, or expenses if they involved organizations
external to the County are accounted for as revenues, expenditures, or expenses in the funds involved. Transactions
which constitute reimbursements of a fund for expenditures or expenses initially made from that fund which are properly
applicable to another fund are recorded as expenditures or expenses in the reimbursing fund and as reductions of the
expenditure or expense in the fund that is reimbursed. At year end, outstanding balances between funds are reported as
"due to/from other funds". Interfund balances are generally expected to be repaid within one year of the financial
statement date. Any residual balances outstanding between the governmental activities and business -type activities are
reported in the government -wide financial statements as "internal balances".
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
4. Inventories and Prepaid Items
Inventories of governmental funds, which consist of expendable materials held for consumption, are stated at cost
utilizing the weighted average cost method. These funds follow the consumption method of accounting whereby
expenditures are recorded at the time the inventory items are used.
Inventories of proprietary funds are recorded at average cost.
Certain payments to vendors reflect cost applicable to future accounting periods and are recorded as prepaid items in
both government -wide and fund financial statements.
5. Capital Assets
Capital assets, which include property, plant, equipment, intangible assets (computer software and right of ways for land
use), and infrastructure assets (e.g., roads, bridges and similar items), are reported in the applicable governmental or
business -type activities columns in the government -wide financial statements. Capital assets are defined by the County
as assets with an initial, individual cost of more than $5,000 and a useful life of more than one year. All capital assets are
valued at historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets are
recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the valueof the asset or materially extend assets' lives are
not capitalized.
All reported capital assets, except for gravel roads and intangible assets are depreciated. Improvements are depreciated
over the remaining useful lives of the related capital assets. Depreciation on all assets is provided on the straight-line
basis over the following estimated useful lives:
Buildings
Improvements
Infrastructure - Bridges
Infrastructure - Roads
Equipment
Heavy Equipment
20 - 50 years
20 years
50 years
20 years
3-5 years
10 - 20 years
Statement 34 allows an alternative approach which would reflect a reasonable value of the asset and the cost incurred to
maintain the service potential to locally established minimum standards in lieu of depreciation. To elect this option, the
County must develop and implement an asset management system which measures, at least every third year by class of
asset, if the minimum standards are being maintained. Related disclosures are additionally required as part of the
Required Supplementary Information. The County has elected to use the alternative approach only for gravel roads.
6. Compensated Absences
County employees accumulate sick leave and vacation benefits at rates of 8 hours per month and 8 to 16 hours per
month, respectively, depending on length of service. In the event of retirement or termination, an employee is paid 100%
of accumulated vacation pay. An employee whose date of hire is prior to January 1, 1985, is paid for 50% of
accumulated sick leave hours up to the equivalent of one month; if the employee's date of hire is after January 1, 1985,
no sick leave is paid upon retirement or termination. Up to 320 hours of annual vacation may be carried over from one
year to the next. Compensatory time is granted (except for official, professional, and administrative positions) at the rate
of one and one-half hours for each overtime hour worked, not to be accumulated in excess of forty hours.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
The unpaid sick leave, vacation pay and related benefits at the end of the period will generally not be paid with
expendable and available resources. Proprietary funds accrue sick leave, vacation pay and related benefits in the period
they arc earned by the employees.
The entire compensated absence liability is reported on the government -wide financial statements. Expenditures and
liabilities for compensated absences are reported on the government fund statements only when the liability for the
compensated absences becomes due.
7. Long-term obligations
In the government -wide financial statements and proprietary fund types in the fund financial statements, long-term debt
and other long-term obligations are reported as liabilities in the applicable governmental activities, business -type
activities, or proprietary fund type statement of net position.
8. Fund Equity
The Governmental Accounting Standards Board (GASB) has issued Statement No. 54, Fund Balance Reporting and
Governmental Fund Type Definitions (GASB 54). As prescribed by GASB Statement 54 governmental funds report
fund balance in classifications based primarily on the extent to which the County is bound to honor constraints on the
specific purposes for which amounts in the funds can be spent. As of December 31, 2014, fund balances for
governmental funds are comprised of the following:
1.Nonspendablefiund balance includes amounts that are (a) not in spendable form, or (b) legally or contractually
required to be maintained intact. The "not in spendable form" criteria include items that are not expected to be
converted to cash, for example such as fund balance associated with inventories, prepaid amounts, long-term
loans and notes receivable, and property held for resale (unless the proceeds are restricted, committed, or
assigned).
2.Restricted.timd balance category includes amounts that can be spent only for the specific purposes stipulated
by constitution, external resource providers, or through enabling legislation. Restrictions may effectively be
changed or lifted only with consent of resource providers.
3.Cornmitted fund balance includes amounts that can be used only for the specific purposes determined by a
resolution of the Board of County Commissioners, the County's highest level of decision -making authority.
Commitments may be changed or lifted only by the County taking the same formal action that imposed the
constraint originally.
4.Assigned ,fund balance comprises amounts intended to be used by the County for specific purposes that are
neither restricted or committed. Intent is expressed by ("1) the Board of County Commissioners or (2) an official
(Director of Finance and Administration) to which the Board of County Commissioners has delegated the
authority to assign amounts to be used by the County for specific purposes but do not meet the criteria to be
classified as restricted or committed, and
S. Unassigned fund balance is the residual classification for the government's General Fund and includes all
spendable amounts not contained in the other classifications. Unassigned amounts are technically available for
any purpose.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Order of Fund Balance Spending Policy
The County's policy is to utilize funds in the following order: restricted fund balance, committed fund balance, assigned
fund balance, and unassigned fund balance.
The Board of County Commissioners adopted the County Fund Balance Policy on December 14, 2011, nunc pro tunc
January 1, 2011. The policy was created to help reduce the negative impact on the County in times of economic
uncertainty, major fluctuations in oil and gas assessed valuations, and potential losses of funding from other
governmental agencies, The policy established minimum requirements for reserves and guidelines for the use of certain
funds. The reserves and restrictions are also consistent with the requirements under Colorado statute or state
constitutional requirements.
The County Fund Balance Policy requires the following:
• Any remaining fund balance following all restrictions and commitments in the Health Fund shall be assigned
for the purpose of future health programs for the benefit of the citizens of Weld County.
• Any remaining find balance following all restrictions and commitments in the Social Services Fund shall be
assigned for the purpose of future welfare programs for the benefit of the citizens of Weld County
• Any remaining fund balance following all restrictions and commitments in the Human Services Fund shall be
assigned for the purpose of future welfare, senior, and employment programs for the benefit of the citizens of
Weld County
• The Contingency Fund shall maintain a minimum fund balance to cover a minimum ten (10) percent of the
annual expenditures and maximum of twenty (20) percent of the annual total expenditures as determined by the
Director of Finance and Administration to provide: ("1) a reasonable level of assurance that Weld County's
operations will continue even if circumstances occur where revenues are insufficient in an amount that is equal
to at least one -percent of annual expenditures to cover necessary expenses for public safety, public welfare and
public works; (2) there is a major reduction in oil and gas assessed valuations; or (3)there are other unexpected
needs or emergency situations costing an amount that is equal to at least one -percent of annual total
expenditures that do not routinely occur. The Contingency Fund shall be funded by property tax with a half -mill
applied to the county's assessed value annually, unless the Board of Weld County Commissioners adjusts the
amount in the annual budget process.
• The three -percent TABOR emergency reserve required by Article X, Section 20(5) of the Colorado
Constitution shall be a restricted fund balance in the General Fund in an amount equal to sixmillion dollars or
three -percent of the TABOR revenue limit, whichever is greater,
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Fund balances for all major and non -major governmental funds as of December 31, 2014, are distributed as follows:
Nonsnendable
lnventroy
Prepaid Expenses
Total Nonspendable
Restricted for
Public Works
Health
Social Services
Human Services
TABOR Reserve
Other Purposes
Total Restricted
Committed to
Capital Projects
Solid Waste Disposal
General Contingencies
Economic Development
Total Commitments
Assigned
Appropriations in budget
Total Assigned
General
Public Social
Works Services
122,439 1,211,219
560,938
683,377
40,740
1,21 1,219 40,740
- 77,831,514
7,000,000
671,021
3,569,313
7,671,021 77,831,514 3,569,313
2,105,601
2,105,601
1,581,113
1,581,1 13
Unassigned 11,437,583
Total Fund Balance 23,478,695 79,042,733 3,610,053
52
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Human Capital
Services Contingent Expenditures Non Major Total
1,333,658
1,526 603,204
1,526 1,936,862
758,892
- 77,831,514
3,326,610 3,326,610
- 3,569,313
- 758,892
- 7,000,000
378,607 1,049,628
758,892 - - 3,705,217 93,535,957
- 34,988,751
18,636,650
18,636,650
2,042,989 2,042,989
34,988,751
2,105,601
34,988,751 18,636,650 2,042,989 57,773,991
1,581,113
1,581,1 13
- 11,437,583
758,892 34,988,751 18,636,650 5,749,732 166,265,506
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Encumbrances
The County uses encumbrances to control expenditure commitments and enhance cash management. Encumbrances
reflect the outstanding contractual obligations for which goods and services have not been received. They are set up to
reserve portions of applicable appropriations. Encumbrances still open at year end are not accounted for as expenditures
or liabilities, but as a constraint imposed on fund balance. As of December 31, 2014, the county's General Fund has a
total of S1,581,113 in encumbrances, which were reported as part of the assigned fund balance on the governmental fund
balance sheet. Encumbrance balances by major funds and non -major funds as of December 31, 2014 are:
Restricted Committed Assigned Total
General Fund $
Public Works
Capital
Total
9. Net Position
19,654,044
19,654,044
$
- $ 1,581,113 $
722,306
1,581,113
19,654,044
722,306
722,306 1,581,113 21,957,463
Net position represents the difference between assets and liabilities. Net position invested in capital assets, net of related
debt consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowing
used for the acquisition construction of improvements of those assets. Net position is reported as restricted when there
are limitations imposed on its use either through the enabling legislation adopted by the County or through external
restrictions imposed by creditors, grantors, laws or regulations of other governments.
The County first applies restricted resources when an expense is incurred for purposes for which both restricted and
unrestricted net position is available.
10. Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the amounts reported in the financial statements and
accompanying notes_ Actual results may differ from those estimates.
Note 2 - Stewardship, Compliance, and Accountability
A. Budgetary information
An annual budget and appropriation ordinance is adopted by the Board of County Commissioners in accordance with the
Colorado State Budget Act and Weld County Home Rule Charter, The budget is prepared on a basis consistent with
generally accepted accounting principles. Budgets are established for all Governmental funds, Internal Service funds and
the Enterprise Fund. The accounting system is employed as a budgetary management control device during the year to
monitor the individual departments. The fund level is the level of classification at which expenditures may not legally
exceed appropriations, except for the General Fund where the department level of expenditures cannot legally exceed
appropriations, During the year, several supplemental appropriations were necessary, All annual appropriations lapse at
year end.
54
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
The Director of Finance and Administration is authorized to transfer budgeted amounts within departments of each fund.
Any revisions that alter the total appropriation for a fund or for any General Fund department must be approved by the
County Commissioners through a supplemental appropriation ordinance. During 2014, two supplemental appropriation
ordinances were enacted. Budget amounts reported in the accompanying required supplemental information reflect these
supplemental appropriations.
B. Excess of expenditures over appropriations
Excesses of expenditures over appropriations in General Fund departments can be seen in the expenditures section of the
Schedule of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual.
Expenditures exceeded appropriations in the Law Enforcement Authority funds (Special Revenue). The excess
expenditures in the law enforcement funds were a result of excess funds being available at the end of the year. The
purpose of the law enforcement authorities is to collect taxes to fund law enforcement services in unincorporated parts of
Weld County and any excess funds can be used to offset the cost of law enforcement.
In the Internal Service funds expenditures exceeded approporations in the Motor Pool and Insurance funds, In the
Motor Pool fund fleet depreciation was higher than budgeted as the County fleet expanded, and purchased services were
higher than estimated for the year, in the Insurance fund.
Note 3 - Equity in Pooled Cash and Investments
A. Cash and Investments
Cash and investments held by the Treasurer's office at December 31, 2014 as reported by the financial institutions,
consisted of the following:
Deposits
Investments: FFCB 25,000,000
FHLB 7,650,000
FHLM 19,980,000
FNMA 74,965,000
$ 81,388,394
127,595,000
Total $ 208,983,394
Cash and investments held by the Treasurer's office at December 31, 2014, excluding outstanding warrants, reported in
government -wide and agency funds consisted of the following:
Government -wide
Agency and Fiduciary funds
Total
$193,704,053
15,279,341
$ 208,983,394
B. Deposits
The Colorado Public Deposit Protection Act (PDPA) requires that all local governments deposit cash in eligible public
depositories. Eligibility is determined by state regulations. The State regulatory commissioners regulate the eligible
public depositories. Amounts on deposit in excess of federal insurance levels must be collateralized by eligible collateral
as determined by the PDPA. PDPA allows the financial institutions to create a single collateral pool for all public funds
held. The pool is to be maintained by another institution, or held in trust for all the uninsured public deposits as a group.
The market value of the collateral must be at least equal to 102% of the uninsured deposits. At December 31, 2014, the
County had deposits of $81,388,394 collateralized with securities held by the financial institutions' agents but not in the
County name.
55
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
C. Investments
The County is required to comply with State statutes which specify investment instruments meeting defined rating,
maturity, custodial and concentration risk criteria in which local governments may invest including:
• Obligations of the United States and certain U.S. Agency securities
• Certain international agency securities
• General obligation and revenue bonds of U.S. local government entities
• Banker's acceptance of certain banks
• Commercial paper
• Written repurchase agreements collateralized by certain authorized securities
• Certain money market funds
• Guaranteed investment contracts
• Money Market Funds in Bank Account
The County has no provisions in its investment policy that would further limit investment choices. At December 31,
2014, the County had the following investments:
Investment Maturities (in Years)
1 or less $ 0
1 -3 yrs. 64,975,000
3 - 5 yrs. 62,620,000
$127,595,000
Money Market $ 81,388,394
Total $208,983,394
D. Credit Risk
State statutes limit investments in U.S. Agency securities to the highest rating issued by nationally recognized statistical
rating organizations (NRSROs). At December 31, 2014, the County investments in the Federal Farm Credit Bank,
Federal Home Loan Mortgage and Federal National Mortgage Association were rated AAA by Standard & Poor's.
Federal Home Loan Bank investments were rated AA+ by Standard & Poor's at December 31, 2014. Money Market
Funds were managed by Wells Fargo Bank in accordance with state regulations pledged at 102% Government
Guaranteed Bonds and are AAA rated.
E. Concentration of Credit Risk
State statute does not limit the amount the County may invest in one issuer. At December 31, 2014, the County's
investments in Federal Farm Credit Bank, Federal Home Loan Bank, Federal Home Loan Mortgage, and Federal
National Mortgage Association and Federal Home Loan Mortgage represented 19%, 6%, 16% and 59%, respectively of
the County's total investments.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
F. Interest Rate Risk
State Statutes limit the maximum maturity date unless an exception is made by the county commissioners, which does
not exist at the present time, to five years. The weighted average maturity in the portfolio on December 31, 2014 was
3.18 years. This factor combined with the high quality credit risk of the portfolio limit interest rate risk to a very small
percentage of the portfolio. In fact, at year end the average mark -to -the -market was within one percent of the county's
basis.
G. Money Market Funds in Bank Account
The County had 526,123,508 invested in overnight pooled money with Wells Fargo on December 31, 2014. The
County's investment at Wells Fargo is a direct obligation of the bank and the funds are maintained in a money market
account earning a negotiated rate of return. The collateral for this account is in an undivided interest against a pool of
U.S. Government securities meeting the PDPA requirements of the State of Colorado, which is administered under the
State's Banking Division. The fair value of all of the funds shares are the same and are priced at one dollar and are
liquid daily. A designated custodial bank provides safekeeping and depository services in connection with the direct
investment and withdrawal functions_ Substantially all securities owned are held by the Federal Reserve Bank in the
account maintained for the custodial bank. The custodian's internal records identify the investments owned by the
participating governments.
H. Restricted Cash
The December 31, 2014 restricted cash balance of $443,607 is made up of $65,000 advanced to cover insurance claims
and 5378,607 that must be used in accordance with the Conservation regulations set by the lottery authority.
I. Component Units
The carrying balance of the Housing Authority's cash deposits was $1,380,598 at December 31, 2014. Bank and
investment balances before reconciling items were $1,380,598 at that date, the total amount of which was fully insured
by depository insurance or secured with collateral held by the Authority's agent in its name.
Deposits consist of the following:
Checking, money Market and savings account $ 1,380,598
Restricted cash consists of tenant section 8 HAP reserves and escrow.
The available cash balance of 5760,501 for the E911 authority is included in the Agency and Fiduciary Fund Cash
balance of $15,279,341 held at the Weld County Treasurers Office listed above.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Note 4 - Inter -fund Transactions
Due to/from other funds:
The county reports inter -fund balances between many of its funds. Some of the balances are considered immaterial and
are aggregated into a single column or row. The sum of all balances presented in the table agrees with the sum of
interfund balances presented in the balance sheet for governmental and proprietary funds. The balances resulted from the
time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2)
transactions are recorded in the accounting system, and (3) payments between funds are made. Interfund balances are
generally expected to be repaid within one year of the financial statement date.
Receivable Fund
General
Public Works
Social Services
Health
Transfers in/out
Payable Fund
General Fund
Public Works
Social Services
Human Services
Capital
General
Social Services
Human Services
General Fund
$ 55,907
34,534
2,289
1,132
31,628
9,026
53
32,219
276
$ 167,064
Transfers are indicative of funding for capital projects or subsidies of various County operations and re -allocation of
special revenues. The following schedule briefly summarizes the County's transfer activity:
Transfer From:
Human
General Fund Services
Transfer To:
General Fund $
Public Works
Social Services
Human Services 12,351
Capital 1,000,000
Non -Major Government 3,874,463
Internal Service 2,400,000
$ - $
31,361
Contingent Non -Major Total
Fund Governmental
5,000,000
$ 85,000 $ 85,000
- 5,000,000
- 31,361
- 12,351
400,000 1,400,000
567,283 4,441,746
- 2,400,000
7,286,814 31,361 5,000,000 1,052,283 13,370,458
58
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Note 5 - Allowance for Uncollectible Accounts Receivable
The allowance for uncollectible receivables consists of the following at December 31, 2014:
Fund Type
General
Public Works
Social Services
Contingent
Capital Expenditures
Internal Service
Total
Allowance for
Uncollected
$ 40,284
5,458
4,633
12,409
5,156
1,104
$ 69,044
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Note 6 - Capital Assets
Capital asset activity for the year ended December 31, 2014, was as follows:
Governmental activities
Capital Assets not being depreciated
Land and water rights
Intangible Assets
Gravel Roads
Construction in progress
Total capital assets not being depreciated
Capital assets being depreciated:
Buildings
Improvements
Equipment
Infrastructure
Total capital assets being depreciated
Less accumulated depreciation
Buildings
imporvements
Equipment
Infrastructure
Total accumulated depreciation
Total capital assets being depreciated, net
Beginning
Balance
$ 8,886,168
1,201,794
13,881,237
9,05 1,474
33,020,673
138,185,404
11,392,924
57,982,702
337,717,073
545,278,103
39,361,485
3,715,862
31,272,370
233,879,347
308,229,064
237,049,039
Increases
Transfers In
Decreases (Out)
$ 640,500 $
623,987
1,126,740
28,606,580
30,997,807
6,937,408
1,117,790
7,1 19,370
9,683,601
24,858,169
3,384,075
504,974
5,021,386
17,051,747
750,305 $
- 13,757
(108,764)
172,872 (24,286,887)
923,177 (24,381,894)
293,482
13,023
3,777,768
2,530,932
1,120,400
3,221,368
436,014
19,604,112
6,615,205 24,381,894
217,948
13,023
3,422,125
1,814,755
25,962,182 5,467,851
(1,104,013)
Ending
Balance
$ 8,776,363
1,839,538
14,899,213
13,198,295
38,713,409
145,949,730
15,719,059
61,760,318
364,473,854
587,902,961
42,527,612
4,207,813
32,871,631
249,1 16,339
- 328,723,395
1,147,354 24,381,894
Governmental activities capital assets, net $ 270,069,712 $ 29,893,794 $ 2,070,531 $
259,179,566
- $ 297,892,975
60
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Housing Authority
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Equipment
Total accumulated depreciation
Total capital assets being depreciated, net
Housing Authority capital assets, net
E-911 Assets:
Capital Assets not being depreciated
Contruction in progress
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Equipment
Total accumulated depreciation
Total capital assets being depreciated, net
E-911 capital assets, net
Beginning
Balance Increases
Transfers In
Decreases (Out)
$ 23,907 $ 1,275 $
23,907 1,275
16,232 1,053
16,232 1,053
7,675
222
$ 7,675 $
222 $ - $
$ 450,655 $
4,529,461
4,529,461
2,351,907
2,351,907
2,177,554
$ 2,628,209
Ending
Balance
$ 25,182
25,182
17,285
17,285
7,897
- $ 7,897
$ - $ (450,655) $
2,102,990 1,905,789 450,655 5,177,317
2,102,990 1,905,789 450,655 5,177,317
500,625 1,373,413
500,625 1,373,413
1,602,365
$ 1,602,365 $ 532,376 $
1,479,119
1,479,1 19
532,376 450,655 3,698,198
- $ 3,698,198
61
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government
Public Safety
Streeets and Highways
Economic Assistance
Culture and Recreation
Health and Welfare
Capital Assets held by government's internal service funds are charged
to the various functions based on their usage of the assets
Total depreciation expense - governmental activities
Component Units
Housing Authority
E-911 Authority
Total depreciation expense component units
Note 7 - Risk management and insurance:
$ 1,551,877
2,598,232
17,496,759
22,882
8,395
464,410
3,819,627
$ 25,962,182
1 ,053
500,625
$ 501,678
The County is exposed to various risks of loss related to torts; theft of, damage to, or destruction of assets; and errors or
omissions. These activities are accounted for in the Insurance Fund, an internal service fund. A liability for a claim is
established if information indicates that it is probable that a liability has been incurred at the date of the financial
statements and the amount of the loss is reasonably estimable.
Insurance coverages have not been significantly reduced from prior years and settlements have not exceeded insurance
coverage in the past three years.
The County manages risks of loss through a combination of commercial insurance, participation in a public entity risk
pool, (See Note 1) and self-insurance. These activities are accounted for in the Insurance Fund, an internal service fund.
The County provides health, dental and vision insurance benefits to employees, which are funded by employee and
employer contributions. These activities are accounted for in the Health Insurance Fund, an internal service fiend.
Workers' Compensation coverage is partially self -insured, with insurance coverage of a $750,000 self -insured retention.
Estimated liabilities for claims made and claims incurred but not reported (1BNR) at year-end are shown as accrued
liabilities in the fund. These estimates are based upon a third -party administrator's review of claims and actuarial
projections from historical claims data. Changes in the balances of claims liabilities during the current and prior years
are as follows:
Unpaid Claims - Beginning
Incurred Claims (Includes IBNR's)
Claims Paid
Unpaid Claims - Ending
2013
$ 1,505,040
1,380,442
(1,404,597)
$ 1,480,885
2014
$ 1,480,885
1,462,569
(1,324,386)
$ 1,619,068
62
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
The Insurance Internal Service Fund provides protection against losses involving County property, equipment, and
liability. Reserves within the fund support higher deductible or self -insured retention level against loss. Payments to
CAPP for coverage under the insurance pool are shown as expenses in the Insurance Internal Service Fund. Estimated
liabilities under the $125,000 self -insured retention for claims made and claims incurred but not reported (IBNR) at
year-end are shown as accrued liabilities in the fund. These estimates are based upon CAPP's claim administrator's
review of claims and actuarial projection from historical claims data. Changes in the balances of claims liabilities under
the S125,000 self -insured retention during current and prior years are as follows:
Unpaid Claims - Beginning
Incurred Claims (Includes IBNR's)
Claims Paid
Unpaid Claims - Ending
2013
$ 187,109
412,676
(387,709)
$ 212,076 $ 305,548
2014
$ 212,076
621,841
(528,369)
The Health Insurance Internal Service Fund covers the county's dental and vision reimbursement plan. The plan is not
an insurance program, but rather an employee reimbursement plan that closes out each year on December 31, for
services received on or before that date. No outstanding claims or incurred but not reported liabilities exist for year-end.
In addition the Health Insurance Internal Service Fund as of January 1, 2006, covers the county's health insurance
program. The plan is a self funded employee health benefit plan with a specific deductible amount of $100,000 per
individual, and an aggregate excess loss insurance policy that has both a monthly attachment point and an annual
cumulative attachment limit with a terminal attachment point. Attachment points are calculated based upon enrollment.
Changes in the balance of the claims liability during the current year are as follows:
Unpaid Claims -
Incurred Claims
Claims Paid
Unpaid Claims -
Note 8 - Long -Term Debt:
Beginning
Ending
2013
$ 2,333,324
11,448,614
(11,234,761)
$ 2,547,177
2014
$ 2,547,177
12,276,996
(11,991,182)
$ 2,832,991
Weld County has no general bonded indebtedness. In accordance with Section 30-35-201 CRS, 1973, the County's
general bonded indebtedness is limited to 3% of the assessed valuation, or $273,902,456 at December 31, 2014.
The County has issued industrial revenue bonds for the purpose of financing capital projects of several private
enterprises. Under terms of a financing agreement, the bonds are sold to a bank, the private enterprise assumes full
responsibility for repayment of the debt, and the County is released from any liability for repayment. Industrial revenue
bonds outstanding as of December 31, 2014 totaled $3,457,620.
63
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Changes in long-term liabilities
Long-term liability activity for the year ended December 31, 2014, was as follows, the balances, additions and
reductions are listed by the funds where the liability is accrued and liquidated.
Compensated absences
General Fund
Public Works
Social Services
Public Health
Human Services
Total governmental
Beginning
Balance
Additions
$ 1,801,163 $
505,265
878,893
205,481
178,017
Reductions
322,487 $
173,190
107,273
29,521
40,119
Ending Due Within
Balance One Year
99,059 $ 2,024,591 $
8,437 670,018
84,903 901,263
7,952 227,050
36,644 181,492
94,302
35,390
58,180
8,259
37,339
$ 3,568,819 $ 672,590 $ 236,995 $ 4,004,414 $ 233,470
Note 9 - Weld County Retirement Plan:
Plan Description:
The Weld County Retirement Plan (Plan) is a single -employer, defined benefit pension plan administered by a five -
member retirement board. The plan provides retirement, disability and death benefits to plan members and beneficiaries
at the discretion of the Retirement Board. The Retirement Board and the Board of Commissioners maintain the authority
to establish and amend benefit provisions of the Plan. The Retirement Board issues a publicly available financial report
that includes financial statements and required supplementary information. That report may be obtained by contacting
the County of Weld, State of Colorado.
Funding Policy:
The contribution requirements of plan members and the County are established and maintained by the Board of
Commissioners. Plan members are required to contribute 10.75% of their annual covered payroll. The County is
required to contribute at an actuarially determined rate; the current rate is 10,75% of annual covered payroll. All
pension oblogation (asset) activity is recorded in the County's general fund
64
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Annual Pension Cost and Net Pension Obligation:
The County's annual pension cost and net pension obligation to the plan in the current year were: .
Annual Required Contributions
Interest on net pension obligation
Adjustment to Annual Required Contribution
Annual Pension Cost
Contributions made
increase in net pension obligation
Net pension obligation (asset) beginning of year
Net pension obligation (asset) end of year
$ 5,798,248
448,627
(350,069)
5,896,806
(7,179,487)
(1,282,681)
5,607,840
$ 4,325,159
The annual required contribution for the current year was determined as part of the January 1, 2014 actuarial valuation
using the entry age actuarial cost method. The actuarial assumptions included (a) 8% investment rate of return (net of
administrative expenses) and (b) projected salary increases ranging from 5.3% to 8.5% per year. Both (a) and (b)
included an inflation component of 2.8%. The actuarial value of assets was determined using techniques that smooth the
effects of shorttertn volatility in the market value of investments over a five-year period. The unfunded actuarial liability
is being amortized as a level percentage of projected payroll on an open basis. The remaining amortization period at
January 1, 2014, was 30 years. Pension obligations are paid by County funds in proportion to the salary incurred by each
fiend.
Three -Year Trend Information:
Fiscal Year Ended
December 31, 2012
December 31, 2013
December 31, 2014
Funding Status:
Actuarial
Valuation
Date
Actuarial
Value of
Assets
(a)
1/1/14 $156,669,705
Annual Pension
Cost (APC)
6,127,203
6,576,112
5,896,806
Percentage of APC
Contributed
97.4%
94.8%
121.75%
Actuarial Unfunded
Accrued AAL (UAAL)
Liability (b -a)
(AAL)
Entry Age
(b)
$221,680,478 65,010,773
Funded
Ratio
(a/b)
Net Pension
Obligation (Asset)
5,265,873
5,607,840
4,325,159
Covered
Payroll (c)
70.67 % $ 61,704,127
UAAL as a
Percentage of
Covered
Payroll
[b -a /c]
105.36 %
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
A schedule of funding progress can be found in the RSl section following the notes to the financial statements. The
schedule of funding progress presents information on the funding process and its increases and decreases over time.
Based on several months of study and review of available plan design options, the Retirement Board revised the
provisions of the Weld County Retirement Plan in order to reduce the future volatility of the plan's funded status and
help to secure the financial future of the Plan. The majority of the revisions only impact new members hired on or after
January 1, 2010. The provisions of the revised plan provide a variable annuity with members accruing 1.9% of their pay
each year toward their age 65 annuity. The benefit is adjusted each March based on the Plan's asset return under or over
5% for the prior year. Early retirement options continue to be available under the revised plan. The interest rate credited
to contributions after January 1, 2010 is 3% per year.
Note 10 - Other Post Employment Benefits:
Plan Description:
Weld County Other Post Employment Benefits Plan (OPEB Plan) is a singleemployer defined benefit healthcare plan
administered by Weld County that provides medical, dental, and vision insurance benefits to eligible retirees and their
spouses_ The OPEB Plan was created by a Board of Weld County Commissioners resolution on November 30, 1998,
and amended December 16, 2002 and September 21, 2005. The OPEB Plan provides the same health, dental, and vision
plan as offered Weld County employees and at the same cost. The program is not part of the Weld County Retirement
Plan and is not a vested benefit or right, but it is a plan that can be amended or stopped at any time by the Board of Weld
County Commissioners for any reason, and no separate financial statements are prepared. The program is only available
to Weld County employees hired prior to October 1, 2005. From December 16, 1998, to December 31, 2008, a retiree
who retires from employment with Weld County after ten years of service, or was an elected official of Weld County for
at least one full four year term, who has attained the age of 55 years and is drawing benefits from the Weld County
Retirement Plan is eligible to continue health, dental, and vision coverage until age 65. After January 1, 2009, an
employee must have attained age 57 and have 15 years of service to be eligible. From 2009 until 2014 the required age
attainment and years of service are each increased by one year annually, so effective January 2014 an employee must
have attained age 62 and have 20 years of service to be eligible, unless the employee attains age 55 and has 30 years
experience or has attained age 55 and has served as a Weld County elected official for two full terms. Coverage ends in
all cases at age 65. The Board of Weld County Commissioners on September 15, 2008, decided by resolution that the
current program will be stopped January 1, 2009, except for those employees born prior to January 1, 1957, or any
employee born on or prior to December 31, 1958, who will have 30 years of service prior to reaching age 62. Employees
meeting these criteria will be grandfathered into the current plan and will remain eligible for continued benefits under
the retiree health insurance program adopted December 16, 2002. An employee meeting the above criteria to be eligible
for the grandfathered plan the employee and/or dependents, if applicable, must have been enrolled as of January 1, 2008,
in the Weld County health insurance plan. Employees and/or dependents enrolled in the Weld County health insurance
plan after January 1, 2008, are not eligible for the grandfathered plan. On July 19, 2010, the Board of Weld County
Commissioners terminated the program effective June 30, 2012, for all eligible employees that had not retired or signed
an agreement for continuation of health insurance coverage as of October 1, 2010.
66
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Funding Policy:
The contribution requirements of plan members and Weld County are established and may be amended by the Board of
Weld County Commissioners annually. The required contribution is based on projected pay-as-you-go financing
requirements. For fiscal year 2014, the county contributed $0 to the plan. Plan members receiving benefits contributed
$94,185, or approximately 100% percent of the total premiums, through their required contribution ranging from $129
to $157 per month for retiree -only coverage and between $245 to $338 for retiree and spouse coverage. Each of these
rates saw a 7.5% increase in 2014. The OPEB Plan assets are deposited in the Weld County OPEB Plan Trust Fund.
The employer's contributions to the trust fund arc irrevocable, the assets of the trust are dedicated to providing benefits
to retirees and their beneficiaries, and the assets are legally protected from the employer's creditors.
Annual OPEB Cost and OPEB Obligation:
Prior to January 1, 2007, the OPEB Plan was funded on a pay as you go basis. Beginning January 1, 2007, the county's
annual other post employment benefit (OPER) cost (expense) is calculated based on the annual required contribution of
the employer (ARC), an amount determined in accordance with the parameters of GASB Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize
any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The primary assumption
for the ARC calculation is the 4% discount rate. The assumptions currently include an annual healthcare cost trend rate
of 11%. Liabilities are computed using the projected unit credit method. When applicable, the unfunded actuarial
accrued liability has been amortized over a closed 25 year period. GASB's standard allows for the use of the Alternative
Measurement Method to compute OPEB cost and obligations for plans with less than 100 members. The Alternative
Measurement Method is a calculation of the OPEB cost and obligation using a simplified approach that does not require
the engagement of an actuary. The Weld County Retiree Health OPEB plan had 58 members in 2014 and therefore
calculations for the Weld County Retiree Health OPEB have been completed in accordance with GASB 45 Alternative
Measurement Method using the projected unit credits methodology. Management considers the new calculation method
to be preferable as an outside actuary is no longer required to be engaged, resulting in a cost savings to the County.
Marital and dependency status is based on current status of covered participants. Other significant assumptions are made
by County management based on knowledge of applicable costs affecting the County. The following shows the
components of the County's annual OPER cost for the year, the amount actually contributed to the plan, and changes in
the county's net OPEB obligation to Weld County:
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Level Dollar Amortization
Calculation on Annual OPEB cost under Projected Unit Credit Method onDecember 31, 2014
Anual Required Contribution (ARC)
Adjustment to the ARC
Interest Earned on Net OPEB Asset
2014 Net Annual OPEB Cost
County Contributions
Increase in net OPEB obligation (asset)
Beginning OPEB obligation (asset)
Ending OPEB Obligation (asset)
577,738
(847,758)
(15,550)
(285,570)
(285,570)
(366,884)
$ (652,454)
There is no unfunded actuarial accrued liability (UAAL) at the end of the year. A surplus of $652,454 exists.
Covered Participants as of January 1, 2015
Retired Employees
Spouses of Retired Employees
Three -Year Trend Information:
Fiscal Year End
December 31, 2012
December 31, 2013
December 31, 2014
Annual OPEB Cost
713,965
51,444
(285,570)
40
5
45
Percentage of Annual
OPEB Cost
Contributed
100.0 %
188.0 %
100.0 %
Net OPEB
Asset
$ (299,725)
$ (366,884)
$ (652,454)
Prior to January 1, 2007, the OPEB Plan was on a pay as you go funding basis. January 1, 2007, was the first time an
actuarial accrued liability was calculated to determine the net OPEB obligation. The OPEB obligation as of December
31, 2014 was $1,735,238 there were $2,387,693 in assets on December 31, 2014 for a funding excess of ($652,455). All
related pension obligation (assets) are recorded in the County's General fund_
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Funded Status and Funding Progress. The funded status of the plan as of December 31, 2012, was as follows:
Actuarial Accrued Liability (AAL) $ 1,735,238
Actuarial value of plan assets $ 2,387,693
Funded Excess $ (652,455)
Funded ratio (actuarial value of plan assets/AAL) 137.60 %
No active employees are covered by the plan.
Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability of events
far into the future, and actuarially determined amounts are subject to continual revision as actual results are compared to
past expectations and new estimates are made about the future.
The required schedule of funding progress presents multiyear trend information about whether the actuarial value of
assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.
The actuarial calculations are based on the types of benefits provided under the terms of the substantive plan at the time
of each valuation and on the pattern of sharing of costs between the employer and members to that point and reflect a
long-term perspective.
The Weld County OPEB Plan Assets are accounted for in the Weld County OPEB Plan Trust Fund. An IRC Section 115
Trust has been established for the Weld County OPEB Plan Trust,
Note 11- Commitments and Contingencies:
Commitments
As of December 31, 2014 there were encumbrances carried forward to 2015 of $1,581,113 in the General fund,
consisting of $296,433 for general purchases, $363,097 for engineering designs, S221,596 for oil and gas audits,
$699,987 for County wide communication and general goverment computer system maintance and support.. The Public
Works fund carried forward $19,654,044 for road construction projects which includes 519,391,107 specifically for the
Weld County Parkway. In the capital expenditures fund year-end projects under construction included $211,219 for
building improvements, $50,215 for a grader shed complex, and $460,872 for remodeling projects for the Weld Plaza
buildings.
Note 12 - Public Trustee:
Pursuant to an act of the Colorado General Assembly, the Weld County Public Trustee is to be deemed an agency of the
County for the purpose of financial reporting.
Related activity has been reported in the General Agency Fund, with the following activity identified strictly for the
office of the Public Trustee as of and for the year ended December 31, 2014
Assets
Liabilities
Net Position
Revenues
Expenses
$ 386,640
7,976
378,664
351,178
377,000
The Public Trustee started a retirement plan in December 2003. The plan is a defined contribution plan under Internal
Revenue Code section 401(K). The employer will match employee contributions up to 8% of eligible compensation.
69
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Note 13 - Non -Cash Activity in Social Services Fund
Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures
for the Year Ended December 31, 2014
A
B
C
D
E
Program
County EBT
Authorizations
County Share of
Authorizations
Total Refunds
and Expenditures
by County
Warrant or
Accrual
County EBT
Authorizations
plus Expenditures
by County
Warrant
(Col. A + Col. C)
Total
Expenditures
Col. B + Col. C
Old Age Pension
4,281,622
6,745
78,176
4,359,798
84,921
Low -Income Energy
Assistance Program
1,370,336
-
137,949
1,508,285
"137,949
Temporary Assistance for
Needy Families
4,064,500
679,648
2,655,916
6,720,416
3,335,564
Administration
3,000
600
9,220,115
9,223,115
9,220,715
Trails/Child Welfare
7,482,038
1,504,535
11,325,727
18,807,765
12,830,262
Core Services
1,462,592
251,408
728,464
2,191,056
979,872
Aid to the Needy Disabled
932,984
152,581
1,584
934,568
154,165
IV -D Administration
-
-
3,097,385
3,097,385
3,097,385
CHATS/Child Care
4,308,399
417,441
528,999
4,837,398
946,440
General Assistance
-
-
316,158
316,158
316,158
Subtotal
23,905,471
3,012,958
28,090,473
51,995,944
31,"103,431
Food Assistance
36,461,874
-
(190)
36,461,684
(190)
Grand Total
60,367,345
3,012,958
28,090,283
88,457,628
31,103,241
A.
Welfare payment authorized by the Weld County Department of Social Services. These County authorizations
are paid by the Colorado Department of Human Services by Quest debit cards or by electronic benefits transfer
(EBT)
B. County share of EBT authorizations. These amounts are settled monthly by a reduction of State cash advances
to the County.
C. Expenditures made by county warrants or other county payment methods.
D. This represents the total cost of the welfare programs that are administered by Weld County.
E. This total matches the expenditures on the Social Services Fund — Statement of Revenues, Expenditures and
Changes in Fund Balances.
70
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Note 14 - Recent Pronouncements:
In February 2012 the Governmental Accounting Standards Board issued GASB Statement No.68 Accounting and
Financial Reporting for Pensions, which replaces GASB No.27, Accounting for Pensions by State and Local
Government Employers, for the most government pensions. Statement No.68 requires governments providing defined
benefit pensions to recognize their long term obligation for pension benefits as a liability for the first time, and to more
comprehensively and comparably measure the annual cost of the pension benefits. The Statement also enhances
accountability and transparency through revised and new note disclosures and required supplementary information
(RSI).
GASB Statement No.68 is effective for years beginning after June 15, 2014 with effective changes made to comply with
the statement reported as adjustments to prior periods. The effect that the adaption of GASB No. 68 will have on the
County's financial statements has not been determined.
In February 2015 the Governmental Accounting Standards Board issued GASB Statement No.72 Fair Value
Measurement and Application. This statement provides final guidance on the accounting and financial reporting issues
related to fair value measurements primary applicable to investments made by state and local governments. The
guidance: 1) defines fair value and describes how it should be measured; 2) identifies the assets and liabilities that
should be measured at fair value; and 3) identifies the fair value information that should be disclosed in the notes to the
financial statements.
GASB Statement No.72 is effective for years beginning after June 15, 2015 with effective changes made to comply with
the statement reported as adjustments to prior periods. The effect that the adaption of GASB No. 72 will have on the
County's financial statements has not been determined
71
72
Required Supplementary Information
Other Than MD&A
INFORMATION
COUNTY OF WELD
STATE OF COLORADO
Schedule of Funding Progress - Pension Trust
Year Ended December 31, 2014
Schedule of Funding Progress - Retirement Plan
Actuarial
Valuation
Date
1/1/08
1/1/09
1/1/10
1/1/11
1/1/2012
1/1/2013
1/1/2014
Actuarial
Value of
Assets
(a)
$ 125,879,138 $
112,079,550
131,288,037
134,917,364
135,173,969
138,911,110
$ 156,669,705 $
Year Ended
December 31
2006
2007
2008
2009
2010
2011
2012
2013
2014
Acturial
Accrued
Liability
(AAL)
Entry Age
(b)
167,011,647 $
176,927,890
186,015,431
193,269,672
203,114,167
212,186,030
221,680,478 $
Unfunded Funded
AAL (UAAL) Ratio
(b -a) (a/b)
41432,509
64,848,340
54,727,394
58,352,308
67,940,198
73,274,920
65,01 0,773
Covered
Payroll (c)
75.4 % $ 49,967,777
63.3 % 53,988,779
70.6 % 53,484,492
69.8 % 53,415,982
66.6 % 55,871,701
65.5 % 55,833,201
70.67 % $ 61,704,127
Schedule of Employer Contributions - Retirement Plan
Annual
Required
Contribution(1)
$ 4,236,858
$ 4,408,097
$ 4,928,519
$ 7,087,011
$ 5,417,362
$ 6,013,818
$ 6,138,685
$ 6,505,700
$ 5,798,248
' 1>Required contribution at beginning of year.
Actual
Contribution
$ 3,205,422
$ 3,804,640
$ 4,184,885
$ 4,962,224
$ 4,885,660
$ 6,706,758
$ 5,970,039
$ 6,234,145
$ 7,179,487
Percentage
Contributed
75.7 %
86.3 %
84.9 %
70.0 %
90.2 %
111.5 %
97.3 %
95.8 %
123.82 %
UAAL as a
percentage
of
covered
payroll
Lb-a)/c]
82.3 %
120.1 %
102.3 %
109.2 %
121.6 %
131.2 %
105.40 %
COUNTY OF WELD
STATE OF COLORADO
Schedule of Funding Progress - Other Post Employment Benefits
Year Ended December 31, 2014
Schedule of Funding Progress - Other Post Employment benefits
Excess
Actuarial Actuarial Acturial Funding Funded Ratio
Valuation Value of Accrued AAL (UAAL) (a/b)
Date Assets Liability (b -a)
(a) (AAL)
Entry Age
(b)
1/1/11 $ 2,550,854 $ 8,346,023 $ 5,795,169 30,6 %
1/1/12 $ 2,784,877 $ 8,346,023 $ 5,561,146 33.4 %
1/1/13 $ 3,521,997 $ 3,222,272 $ (299,725) 109.3 %
1/1/14 $ 2,918,273 $ 2,551,388 $ (366,885) 114.4 %
1/1/15 $ 2,387,693 $ 1,735,238 $ (652,455) 137.6 %
Schedule of Employer Contributions — Other Post Employment Benefits
Annual
Year Ended Required Actual Percentage
December 31 OPEB Cost Contribution Contributed
2012 $ 713,965 $ 713,965 100.0 %
2013 51,444 96,867 188.3 %
2014 $ (285,570) $ (285,570) 100.0 %
('Required contribution at beginning of year.
COUNTY OF WELD
STATE OF COLORADO
Required Supplementary Infonnation
Modified Approach for Infrastructure Assets
Weld County prepares an annual gravel road plan. In doing this each of the sections of gravel roads has been evaluated
by supervisors. They use the State guidelines as out lined in Section 43 -2 -120(5)(a -b), C,R.S, 1973, which is stated
below. Since gravel roads condition can change quickly based on weather conditions the road plan may have to be
modified to take care of such problems. Therefore, an official road maintenance system is difficult to put in place. It is
the County's policy to maintain the roads in fair or better condition. The County's gravel plan details the replacement
and maintenance schedule required for the gravel roads, by segment, under ideal weather conditions based on traffic and
location. The day to day conditions of the gravel roads is continually monitored by the County's Motor Grader division
whose sole responsibility is to maintain the condition of the gravel roads, the following table details the condition
assessment in total miles and percentage reported at the end of the last three fiscal periods.
2014 2013 2012
Condition Miles % of Total Miles % of Total Miles % of Total
Good 1,786 80.3% 1,784 79.6% 1,821 80.5%
Fair 372 16.7% 383 17.1% 377 16.7%
Poor 65 2,9% 74 3,3% 64 2,8%
Comparison of Estimated -to -Actual Maintenance/Preservation
2010 2011 2012 2013 2014 2015
Estimated $ 2,915,000 $ 3,160,000 $ 3,132,000 $ 3,360,875 $ 2,696,700 $ 3,703,900
Actual $ 3,046,576 $ 2,683,326 $ 3,696,246 $ 3,131,555 $ 3,067,408
Gravel Roads - Surface Condition Rating Criteria
Section 43-2-120 (5)(a -b), C.R.S. 1973, gives the following guidelines pertaining to the condition criteria on gravel
roads.
Good Surface Condition
$ There is adequate width for safe passage of large vehicles.
$ Graded to a uniform cross-section, having a crown and ditches to provide good drainage.
$ The surface is smooth with no washboards, rutting or soft areas; vehicles can safely travel at the posted speed
limit.
$ There is adequate gravel uniformly spread across the surface.
$ During periods of wet weather, roads will support traffic.
Fair Surface Conditions
$ Adequate width for safe passage of cars and pickup trucks.
$ Cross-section may vary; the crown is not consistent; ditches and drainage are not adequate.
$ The surface has occasional washboards and ruts but irregularities do not interfere with safe vehicle operation at
the speed limit,
$ Gravel is present, but lacking in the wheel paths or in short stretches.
$ During periods of wet weather, puddles develop; the road is slippery but will support normal traffic.
Poor Surface Condition
$ Two cars cannot safely pass.
$ Cross-section varies. There is no crown or ditches, and water does not drain from the road.
$ The surface has washboards, ruts, soft areas; vehicles must slow to less than the speed limit.
$ Gravel is sparse or does not exist,
$ During periods of wet weather, cars cannot safely travel.
76
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal Year Ended December 31, 2014
Budgeted - GA AP Basis
REVENUES
Taxes:
General property taxes
Tobacco products
Penalties & interest
Total Taxes
Licenses and Permits
Liquor licenses
Planning permits
Building permits
Electrical permits
Total Licenses and Permits
Intergovernmental:
Federal grants
Payment in lieu of taxes
State grants
Other governmental units
Cities and towns
Total Intergovernmental
Charges for Service:
Plan checking fees
Charges for services
Sale of supplies
Parking
Total Charges for Service
Fines and Forfeitures:
Property forfeitures/evidence
Fines (drunk drivers)
Total Fines and Forfeitures
Miscellaneous:
Miscellaneous
Interest
Rents from buildings
Total Miscellaneous
Original Final
Actual
Variance
$ 82,684,668 $ 82,684,668 $ 82,468,974 $
150,000 210,000 223,582
48,401 _
82,834,668 82,894,668 82,740,957
6,000
375,000
1,200,000
400,000
6,000
570,000
3,100,000
1,000,000
1,981,000 4,676,000
2,000
3,354,784
524,940
283,040
2,401,100
2,000
3,925,016
524,940
313,040
4,164,764
7,166,096
500,000
6,012,249
120,500
23,500
1,400,000
6,715,653
120,500
23,500
6,656,249
8,259,653
304,500
304,500
304,500
304,500
2,081,713
1,100,000
524,302
3,510,041
1,100,000
524,302
$ 3,706,015
$ 5,134,343
6,908
581,012
3,247,180
1,038,183
4,873,283
1,846,040
4,141,708
1,843,500
288,298
8,119,546
1,481,440
5,550,147
114,693
22,098
7,168,378
107,976
224,428
332,404
4,210,628
1,249,931
539,362
(215,694)
13,582
48,401
(153,711)
908
11,012
147,180
38,183
197,283
(555,060)
(2,000)
216,692
1,318,560
(24,742)
953,450
81,440
(1,165,506)
(5,807)
(1,402)
1,091,275)
107,976
(80,072)
27,904
700,587
149,931
15,060
$ 5,999,921 $ 865,578
77
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal Year Ended December 31, 2014
Budgeted - GAAP Basis
REVENUES (CONTINUED)
Fees:
Fee account
Treasurer's fees
Cable fees
Assessor's fees
Total Fees
Total Revenues
EXPENDITURES
General Government
Office Of the Board
County Attorney
Public Trustee
Planning and zoning
Clerk to the Board
County Clerk
Elections and registrations
Motor Vehicle
County Treasurer
County Assesor
Maintenance of buildings/gounds
Weld Plaza
County Council
District Attorney
Juvenile Diversion
Adult Diversion
Victim Assitance
Financial administration
General accounting
Purchasing
Personnel
Geographical Information Systems
Computer Services
Inovation & Technology Project
Print and Supply
Smart Energy Project
Total General Government
(CONTINUED)
Original Final
$ 9,748,250
35,000
52,000
40,000
Actual
$ 10,234,740 $
35,000
52,000
40,000
Variance
10,472,197 $
22,730
68,097
55,595
237,457
(12,270)
16,097
15,595
9,875,250 10,361,740 10,618,619 256,879
109,522,446 118,797,000 119,853,108 1,056,108
941,170 941,170 885,926 55,244
789,195 923,195 918,617 4,578
- 3,000 2,739 261
1,767,495 2,017,095 1,772,780 244,315
314,224 398,224 405,553 (7,329)
953,181 953,181 896,744 56,437
1,527,771 1,352,771 1,022,877 329,894
2,261,230 2,426,230 2,439,605 (13,375)
924,759 949,759 772,045 177,714
2,688,567 3,264,267 2,760,056 504,211
6,099,343 6,419,343 6,003,326 416,017
14,325 (14,325)
47,736 47,736 13,153 34,583
5,191,248 5,309,248 5,132,277 176,971
99,502 158,752 150,972 7,780
64,953 71,953 70,462 1,491
696,666 726,666 1,341,552 (614,886)
560,369 410,369 361,014 49,355
708,985 1,158,685 1,121,201 37,484
255,923 255,923 253,940 1,983
952,240 1,173,791 1,045,412 128,379
254,599 286,599 184,849 101,750
3,575,442 4,411,442 3,770,728 640,714
2,000,000 200,000 (6,708) 206,708
365,266 387,266 386,084 1,182
1,290,605 1,290,605 413,216 877,389
$ 34,330,469 $ 35,537,270 $ 32,132,745 $ 3,404,525
78
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal Year Ended December 31, 2014
Budgeted - GAAP Basis
EXPENDITURES (CONTINUED)
Public Safety
Sheriff administration
Crime control and investigation
Traffic Control
Municipal Service Contracts
Task Force
Regional Forensic Laboratory
Communication Services
Communication System Development
Crimial justice
Justice Services
County Coroner
Correctional Administration
Community Corrections
Building Inspections
Office Of Emergency Management
Waste Water
Animal Control
Pest/weed Control
Victim advocates
Total Public Safety
Public Works:
General Engineering
Extension
Veterans Office
Total Public Works
Public Health and Welfare:
Mental Health
Developmentally Disabled
Seniors Program
Economic Development
A Kid's Place
Total Public Health and Welfare
Culture and Recreation:
Missle Site Park
Parks and Trails
County Fair
Total Culture and Recreation
Original Final
Actual
Variance
$ 2,055,306 $ 2,080,306 $ 2,070,263 $ 10,043
7,557,046 7,697,046 8,086,281 (389,235)
1,087,374 1,132,374 1,069,958 62,416
914,257 1,234,257 1,205,023 29,234
112,144 173,144 199,995 (26,851)
325,343 410,343 409,947 396
7,262,754 6,402,754 5,166,442 1,236,312
1,350 26,350 29,088 (2,738)
1,211,379 2,336,432 1,885,883 450,549
622,120 768,120 598,292 169,828
843,361 899,861 893,690 6,171
24,054,824 24,579,824 24,400,662 179,162
2,669,055 2,669,055 2,991,973 (322,918)
1,159,889 1,3 19,589 1,275,127 44,462
298,054 322,054 304,277 17,777
10,000 10,000 9,141 859
301,081 313,081 310,348 2,733
811,935 845,935 860,867 (14,932)
162,147 162,147 130,249 31,898
51,459,419 53,382,672 51,897,506 1,485,166
2,5 13,099
335,432
82,795
3,483,099
353,432
87,795
2,639,570
608,356
82,693
2,931,326 3,924,326 3,330,619
203,225
38,225
14,250
144,700
7,942
203,225
38,225
14,250
1,933,700
7,942
408,342 2,197,342
86,292
29,000
106,680
100,292
29,000
141,180
172,547
39,206
14,250
1,834,353
7,942
2,068,298
75,577
29,000
1,284,778
$ 221,972 $ 270,472 $ 1,389,355
843,529
(254,924)
5,102
593,707
30,678
(981)
99,347
129,044
24,715
(1,143,598)
$ (1,1 18,883)
79
COUNTY OF WELD
STATE OF COLORADO
General Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal Year Ended December 31, 2014
Budgeted - GAAP Basis
EXPENDITURES (CONTINUED)
Miscellaneous:
Other
Ref nd Or Prior Years Benefit
Building Rents
Total Miscellaneous
Capital Outlay:
Capital Expenditures
Total Expenditures
Other Financing Sources (Use)
Transfers - In:
Non -Departmental
Transfers - Out:
Appropriation Grants -In -Aid
Total Other Financing Source (uses)
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund Balance at End of Year
Original Final
$ 4,011,486
10,000,000
92,990
14,104,476
$ 5,366,486
10,000,000
92,990
15,459,476
2,932,322
7,179,822
Actual
Variance
$ 5,226,245 $ 140,241
10,000,000
29,176 63,814
15,255,421 204,055
4,673,165 2,506,657
106,388,326 117,951,380 110,747,109 7,204,271
85,000
3,886,814
85,000
7,286,814
(3,801,814)
(7,201,814)
(667,694)
21,574,510
(6,356,194)
21,574,510
85,000
7,286,814
(7,201,814)
1,904,185 8,260,379
21,574,510
$ 20,906,816 $ 15,218,316 $ 23,478,695 $ 8,260,379
80
81
COUNTY OF WELD
STATE OF COLORADO
Public Works Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the Fiscal Year Ended December 31, 2014
Budget - GAAP Basis
REVENUES:
Taxes:
General property taxes
Severance tax
Specific ownership taxes
Penalties & interest
Total Taxes
Licenses and Permits
Moving Permits
Intergovernmental:
Grazing Act
Payment in lieu of taxes
Grants
Motor Vehicle Registrations
Highway user Tax fiord
Total Intergovernmental
Charges for Services:
Charges for services
Miscellaneous:
Earnings on Deposits
Special Assesment
Royalties
Miscellaneous
Total Miscellaneous
Fees:
Fees
Total Revenues
Original Final
Actual
$ 11,500,000 $ 11,500,000 $ 11,466,714
2,000,000 2,000,000 4,126,947
7,300,000 7,300,000 10,027,341
6,738
20,800,000 20,800,000 25,627,740
500,000 500,000
70,000 70,000
330,000 330,000
6,298,235 10,298,235
330,000 330,000
9,550,000 9,550,000
16,578,235 20,578,235
5,150,000 22,378,964
3,800,000 4,862,000
8,950,000 27,240,964
46,828,235 69,1 19,199
561,063
229,581
41,825
4,394,942
349,616
9,933,921
14,949,885
2,099,273
45,546
3,333
31,503,068
2,451,431
34,003,378
1,381,800
78,623,139
Variance
$ (33,286)
2,126,947
2,727,341
6,738
4,827,740
61,063
159,581
(288,175)
(5,903,293)
19,616
383,921
(5,628,350)
2,099,273
45,546
3,333
9,124,104
(2,410,569)
6,762,414
1,381,800
9,503,940
82
COUNTY OF WELD
STATE OF COLORADO
Public Works Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the Fiscal Year Ended December 31, 2014
Budget - GAAP Basis
EXPENDITURES
Public Works
Bridge Construction
Maintenance of Condition
Maintenance of Support
Trucking Dividsion
Mining Division
Administration
Pavement Management
Other Public Works
Total Public Works
Intergovernmental:
Grants-in-aid to cities/towns
Capital Expenditures
Total Expenditures
Other Financing Sources (Uses)
Transfers - In:
Contingent Fund
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balance at Beginning of Year
Fund Balance at End of Year
Original Final
Actual
5,187,481 5,690,481 4,806,269
6,895,878 7,528,378 6,847,056
1,539,931 1,664,931 1,473,320
4,497,244 5,030,744 4,726,693
2,482,166 3,402,630 2,293,862
752,692 787,692 911,443
6,686,474 7,986,474 7,234,916
29,750,930 52,927,930 26,24"1,431
57,792,796 85,019,260 54,534,990
1,908,056
1,958,056
15,000
59,700,852
86,992,316
5,000,000
5,000,000
(12,872,617)
52,320,790
(12,873,117)
52,320,790
$ 39,448,173 $
39,447,673
1,914,863
451,343
56,901,196
5,000,000
5,000,000
26,721,943
52,320,790
$ 79,042,733
Variance
884,212
681,322
191,611
304,051
1,108,768
(123,751)
751,558
26,686,499
30,484,270
43,193
(436,343)
30,091,120
39,595,060
$ 39,595,060
83
COUNTY OF WELD
STATE OF COLORADO
Social Services Fund
Schedule of Revenues Expenditures and
Changes in Fund Balances - Budget and Actual
For the Fiscal Year Ended December 31, 2014
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Penalties & interest
Total Taxes
Intergovernmental:
Welfare
Total Revenues
EXPENDITURES
Public Health and Welfare:
Administration
Administrative - IV -D
Food Stamps
Other Programs
General Assistance
TANF
AND - State
Child Welfare
Day Care
(CONTINUED)
Original Final
Actual
Variance
$ 8,438,837 $ 8,438,837 $ 8,415,967 $
- - 4,829
8,438,837 8,438,837
21,205,333 24,357,333
29,644,170 32,796,170
8,430,000 9,940,000
2,915,000 3,086,000
361,000 586,000
20,000 20,000
3,015,000 4,047,000
165,000 165,000
13,350,000 13,350,000
969,000 969,000
(22,870)
4,829
8,420,796 (18,041)
23,020,426 (1,336,907)
31,441,222 (1,354,948)
8,488,158
3,095,856
(190)
616,143
316,158
3,307,744
154,165
12,828,844
946,195
1,45 1,842
(9,856)
190
(30,143)
(296,158)
739,256
10,835
521,156
22,805
84
COUNTY OF WELD
STATE OF COLORADO
Social Services Fund
Schedule of Revenues Expenditures and
Changes in Fund Balances - Budget and Actual
For the Fiscal Year Ended December 31, 2014
Budget - GAAP Basis
EXPENDITURES(CONTIN UED):
OAP -A
Core Services
Admistration - Leap
Total Public Health and Welfare
Capital Expenditures
Total Expenditures
Other Financing Sources Uses
Transfers - in
Total Other Financing Sources (Uses)
Net Change in Budgetary Fund Balances
Fund Balance at Beginning of Year
Fund Balance at End of Year
Original Final
121,000
828,000
319,268
121,000
1,042,000
319,268
Actual
84,921
979,872
137,949
Variance
36,079
62,128
181,319
30,493,268 33,645,268 30,955,815 2,689,453
147,426 (147,426)
30,493,268 33,645,268 31,103,241 2,542,027
31,361
31,361
31,361
31,361
(849,098) (849,098) 369,342 1,218,440
3,240,711 3,240,711 3,240,711
$ 2,391,613 $ 2,391,613 $ 3,610,053 $ 1,218,440
85
COUNTY OF WELD
STATE OF COLORADO
Human Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the Fiscal Year Ended December 31, 2014
Budget - GAAP Basis
Original Final Actual Variance
REVENUES
Intergovernmental:
Federal grants
State grants
Total Intergovernmental
$ 5,316,106 $ 6,550,906 $ 6,550,399 $ (507)
2,"136,611 1,088,211 629,953 (458,258)
7,452,717 7,639,117 7,180,352 (458,765)
Charges for Services:
Charges for services 373,000 373,000 366,795 (6,205)
Total Charges for Services 373,000 373,000 366,795 (6,205)
Miscellaneous:
Donations 150,000 150,000 138,755 (11,245)
Total Miscellaneous 150,000 150,000 138,755 (11,245)
Total Revenues 7,975,717 8,162,117 7,685,902 (476,215)
EXPENDITURES
Economic Assistance:
Human resources general fund
Job service
Summer job hunt
Employment first
TANF
WIA administration
WIA adult programs
WIA youth programs
10% Discretionary Grant
WIA dislocated worker
Human resources lab pool
UI training program
- - (5,156) 5,156
929,000 1,009,000 1,021,994 (12,994)
30,000 36,800 41,680 (4,880)
258,000 -
761,100 6,000 3,526 2,474
127,000 174,000 171,559 2,441
529,350 879,350 849,258 30,092
486,300 676,300 686,539 (10,239)
40,000 40,000 - 40,000
486,300 952,800 882,175 70,625
327,000 327,000 179,610 147,390
195,000 221,500 173,735 47,765
86
COUNTY OF WELD
STATE OF COLORADO
Human Services Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the Fiscal Year Ended December 31, 2014
Budget - GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED):
One stop
AAA administration
OAA title I11 -B
OAA title Ill -C1 congregate
OAA title Ill -C2
OAA in home support
Health services
AAA elder abuse
AAA ombudsman
Single entry point
Wellspring/Health fund
Vale Grant
AAA case management
AAA state funds
Part E family caregiver support
CSBG
Colorado Choice Transitions
Total Economic Assistance
Capital Outlay:
OAA area agency
Total Capital Outlay
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
OAA area agency
Transfers out
Social Services
Total Other Financing Sources
Net Change in Budgetary Fund Balances
Fund Balance at Beginning of Year
190,000 - -
92,500 92,500 52,247 40,253
259,855 259,855 196,644 63,211
505,000 505,000 483,087 21,913
44,000 115,000 121,483 (6,483)
11,798 16,198 15,700 498
15,000 29,500 29,635 (135)
2,061 2,061 1,640 421
6,875 6,875 4,054 2,821
1,784,900 1,784,900 1,759,239 25,661
- - 2,468 (2,468)
12,000 12,000 10,819 1,181
- - 431 (431)
639,511 720,711 744,855 (24,144)
87,420 87,420 80,752 6,668
168,098 219,698 224,623 (4,925)
4,392 (4,392)
7,988,068 8,174,468 7,736,989 437,479
6,296 (6,296)
6,296 6,296
7,988,068 8,174,468 7,743,285 431,183
12,351
12,351 12,351
12,351 12,351
31,361 31,361
(19,010) (31,361)
(76,393) (76,393)
835,285 835,285 835,285
Fund Balance at End of Year $ 835,285 $ 835,285 $ 758,892 $ (76,393)
87
COUNTY OF WELD
STATE OF COLORADO
Contingent Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended Year Ended December 31, 2014
Budgeted
REVENUES
Taxes:
General property taxes
Penalties & interest
Total Taxes
Original Final
Actual
Variance
$ 5,000,000 $ 5,000,000 $ 4,986,287 $
3,150
5,000,000 5,000,000
Total Revenues 5,000,000 5,000,000
EXPENDITURES
Miscellaneous
Total Expenditures
Other Financing Sources (Uses)
Transfers - Out
Other
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund Balance at End of Year
10,000,000 10,000,000
10,000,000 10,000,000
(5,000,000) (5,000,000)
34,999,314 34,999,314
$ 29,999,314 $ 29,999,314
(13,713)
3,150
4,989,437 (10,563)
4,989,437 (10,563)
- 10,000,000
10,000,000
5,000,000 5,000,000
(5,000,000) (5,000,000)
(10,563) 4,989,437
34,999,314
$ 34,988,751 $ 4,989,437
88
Supplemental Information
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2014
NON -MAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Special revenue funds account for taxes or other earmarked revenue of the County that finances specified activities
as required by law or administrative action.
Conservation Trust Fund:
The Conservation Trust Fund accounts for revenue received from the State of Colorado to be used for the
acquisition, development and maintenance of new and existing conservation sites within Weld County.
The funds are derived from the Colorado State Lottery.
Public Health Fund:
The Weld County Public Health Department provides health services to County residents. The fund
reflects revenue and expenditures for health care, health education, health monitoring and other related
activities.
Solid Waste Fund:
This fund accounts for revenue received from a surcharge on dumping fees at solid waste disposal sites for
the purpose of combating environmental problems and for the further improvement and development of
landfill sites within the County.
Law Enforcement Authority Funds
These funds accounts for the revenue of the law enforcement authority. The authority is a taxing unit
created by the County to provide additional law enforcement services by the County Sheriff to residents in
a developed unincorporated area of the County
89
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2014
PROPRIETARY FUNDS
Enterprise Funds
Enterprise funds account for operations that arc financed and operated in a manner similar to private business
enterprises where the intent of the governing body is that the costs (expenses including depreciation) of providing
goods or services to the general public on a continuing basis be financed or recovered primarily through user
charges; or where the governing body has decided that periodic determination or revenue earned, expenses
incurred, and/or net income is appropriated for capital maintenance, public policy, management control,
accountability or other purposes.
Northern Colorado Regional Forensic Laboratory:
This Fund accounts for the maintenance and opperation cost of the Northern Colorado Regional Forensic
Laboratory. it is funded by rents paid by the participating agencies.
Internal Service Funds
Motor Vehicle Fund:
This fund accounts for the revenue and costs generated by equipment and vehicles rented to various
departments of the County.
Health Insurance Fund:
This fund accounts for the County's self -insured dental and vision coverage. Revenue is generated from
contributions from the employees of the County. Disbursements are made after insured claims have been
verified and approved.
Insurance Fund:
This fund accounts for all insurance costs for the County, except health insurance. This program is a
combination of insured risks and protected self-insurance risks.
Phone Services Fund:
This fund accounts for all phone costs provided to the County and other outside agencies on a cost -
reimbursement basis.
90
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2014
FIDUCIARY FUNDS
Agency Funds
Agency funds account for assets held by the County as an agent for individuals, private organizations and/or other
governments.
General Agency Fund:
This fund 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.
Employee Flexible Spending:
This fund accounts for Weld County's Section 125, voluntary tax-sheltered plan, which the County
administers directly. Employee contributions to the plan are refunded upon submission of documentation
for un-reimbursed claims.
91
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2014
COMPONENT UNITS
Component units are tied to the County with some board control. They operate as a separate fund but the
information is discretely presented.
Housing Authority Fund:
This fund works with all the low income citizens of Weld County to help with rent assistance or housing
repair.
E-9 1 1 Authority Fund:
This fund operates under state statute, Article 11 of Title 29, C.R.S.. They are responsible for
administering the operations of the 91 l emergency telephone service program in Weld County.
92
93
COUNTY OF WELD
STATE OF COLORADO
Combining Balance Sheet
Non -Major Governmental Funds
December 31, 2014
Conservation
Trust Public Health Solid Waste
ASSETS
Cash and Investments
Receivables (net of allowance for uncollectibles):
Accounts
Due From other County Funds
Other Assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
Accrued Liabilites
Unearned Revenues
Total Liabilities
Fund Balances:
N onspendible
Restricted
Committed
Total Fund Balances
Total Liabilities and Fund Balances
$ 378,607 $ 2,661,422 $ 1,906,751
1,080,600 136,841
276
1,526
$ 378,607 $ 3,743,824 $ 2,043,592
378,607
50,930
236,333
128,425
415,688
1,526
3,326,610
194
409
603
2,042,989
378,607 3,328,136 2,042,989
$ 378,607 $ 3,743,824 $ 2,043,592
94
Total
Law Nonmajor
Enforcement Governmental
Authority Fund Funds
$ - $ 4,946,780
1,217,441
276
1,526
$ 6,166,023
51,124
236,333
128,834
416,291
1,526
3,705,217
2,042,989
5,749,732
$ $ 6,166,023
95
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
Non -Major Governmental Funds
For the fiscal year ended December 31, 2014
Conservation
Trust Public Health Solid Waste
REVENUES:
Taxes:
Taxes
Intergovernmental
Charges for Services
Fines and Forfitures
Miscellaneous
Total Revenues
EXPENDITURES:
Public Safety
Public Health and Welfare
Culture and Recreation
Capital Expenditures
Total Expenditures
Excess of Revenues Over (Under)
Expenditures
Other Financing Sources (Uses):
Transfers - in
Transfers - out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ - $ - $
409,938 2,834,235
- 1,866,693 1,523,082
18,980
2,639 170,783
412,577
404,589
404,589
7,988
4,890,691 1,523,082
8,250,132
12,379
g,262,511
3,371,820)
4,441,746
120,591
120,591
1,402,491
1,052,283
4,441,746 (1,052,283)
7,988 1,069,926
370,619 2,258,210
$ 378,607
350,208
1,692,781
$ 3,328,136 $
2,042,989
Total
Law Nonmaj or
Enforcement Governmental
Authority Fund Funds
$ 20,614 $ 20,614
- 3,244,173
- 3,389,775
18,980
173,422
20,614 6,846,964
20,614 141,205
8,250,132
404,589
12,379
20,614 8,808,305
- (1,961,341)
4,441,746
1,052,283
3,389,463
1,428,122
4,32 1,610
$ 5,749,732
97
COUNTY OF WELD
STATE OF COLORADO
Capital Expenditures Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
REVENUES
General property taxes
Penalties & interest
Total Taxes
Fees
Earnings on Deposits
Miscellaneous
Total Revenues
EXPENDITURES
Capital Outlay:
Buildings
Total Expenditures
Other Financing Sources (Uses)
Transfers - In:
General Fund
Non -Departmental
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
Actual
$ 8,250,000 $ 8,250,000 $
8,250,000
100,000
300,000
8,250,000
100,000
300,000
8,650,000
8,650,000
10,066,608 15,466,608
10,066,608 15,466,608
400,000
400,000
(1,416,608)
18,816,143
(6,416,608)
18,816,143
$ 17,399,535 $
12,399,535
Variance
8,227,119 $
4,823
8,231,942
202,363
175,222
574,634
(22,881)
4,823
(18,058)
102,363
(124,778)
574,634
9,184,161 534,161
10,763,654 4,702,954
10,763,654 4,702,954
1,000,000 1,000,000
400,000
1,400,000 1,000,000
(179,493) 23,003,509
18,816,143
$ 18,636,650 $ 6,237,115
98
COUNTY OF WELD
STATE OF COLORADO
Conservation Trust Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
Original Final Actual Variance
KLVENUES
Intergovernmental:
State Lottery
Miscellaneous:
Earnings on Deposits
Total Revenues
EXPENDITURES
Culture and Recreation:
Land Improvements
Total Expenditures
Net Change in Fund Balances
Fund Balances at Beginning of Year
$ 412,000 $ 412,000 $ 409,938 $ (2,062)
3,000 3,000 2,639 (361)
415,000 415,000 412,577 (2,423)
440,296 440,296 404,589 35,707
440,296 440,296 404,589 35,707
(25,296) (25,296) 7,988 33,284
370,619 370,619 370,619
Fund Balances at End of Year $ 345,323 $ 345,323 $ 378,607 $ 33,284
99
COUNTY OF WELD
STATE OF COLORADO
Public Health Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
REVENUES
Intergovernmental:
State grants
Total Intergovernmental
Charges for Services:
Charges for services
Total Charges for Services
Miscellaneous:
Fees and Fines
Other
Donations
Total Miscellaneous
Total Revenues
EXPENDITURES
Public Health and Welfare:
Public Health Administration
Health Education
Nursing
Environmental Health
Public Health Preparedness
Total Public Health and Welfare
Capital Outlay:
Capital Expenditures
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
N on -Departmental
Total Other Financing Sources
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
Actual
Variance
$ 2,937,183 $ 2,937,183 $ 2,834,235 $ (102,948)
2,937,183 2,937,183 2,834,235 ("102,948)
1,510,169 1,510,169 1,866,693 356,524
1,510,169 1,510,169 1,866,693 356,524
5,000
6,374
25,550
5,000
6,374
25,550
36,924
36,924
18,980
151,160
19,623
13,980
144,786
(5,927)
189,763 152,839
4,484,276 4,484,276 4,890,691 406,415
180,000
1,373,338
4,271,488
2,796,984
290,714
180,000
1,373,338
4,271,488
2,904,384
290,714
8,912,524
191,156
1,166,070
3,880,949
2,761,933
250,024
(11,156)
207,268
390,539
142,451
40,690
9,019,924 8,250,132 769,792
13,498
13,498
8,926,022
12,379
1,119
9,033,422 8,262,511 770,911
567,283 4,441,746 4,441,746
567,283 4,441,746 4,441,746
(3,874,463) (107,400) 1,069,926 1,177,326
2,258,210 2,258,210 2,258,210
$ (1,616,253) $ 2,150,810 $ 3,328,136 $ 1,177,326
100
COUNTY OF WELD
STATE OF COLORADO
Solid Waste Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
REVENUES
Land Fill Surcharges
Total Revenues
EXPENDITURES
Miscellaneous:
Solide Waste
Total Expenditures
Other Financing Sources (Uses)
Transfers Out:
General Fund
Capital Fund
Health Department
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
Actual Variance
$ 900,000 $ 960,000 $ 1,523,082 $ 563,082
900,000 960,000 1,523,082 563,082
247,717
307,717
247,717
307,717
85,000 85,000
- 400,000
567,283 567,283
(652,283) (1,052,283)
(400,000)
1,692,781 1,692,781
120,591 187,126
120,591 187,126
85,000
400,000
567,283
(1,052,283)
350,208 750,208
1,692,781
$ 1,692,781 $ 1,292,781 $ 2,042,989 $ 750,208
101
COUNTY OF WELD
STATE OF COLORADO
Bebec Draw Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Specific ownership taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 11,075 $ 11,075 $ 11,075 $
1,100 1,100 910
(190)
12,175 12,175 11,985 (190)
12,175 12,175 11,985 190
12,175 12,175 11,985 190
$ - $
- $ _ $
102
COUNTY OF WELD
STATE OF COLORADO
Pioneer Community Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Specific ownership taxes
Penalties & interest
Total Revenues
$ 6,353 $ 6,353 $ 6,353 $
100 100 536
- - 8 _
6,453 6,453 6,897
436
x
444
EXPENDITURES
Miscellaneous 6,453 6,453 6,897 (444)
Total Expenditures 6,453 6,453 6,897 (444)
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ $
$ $
103
COUNTY OF WELD
STATE OF COLORADO
South West Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
Original Final Actual Variance
REVENUES
Taxes
General property taxes
Penalties & interest
Total Revenues
$ 1,598 $ 1,598 $ 1,598 $
30 30 134
104
1,628 1,628 1,732 104
EXPENDITURES
Miscellaneous 1,628 1,628 1,732 (104)
Total Expenditures 1,628 1,628 1,732 (104)
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ - $
- $ _ $
104
COUNTY OF WELD
STATE OF COLORADO
Housing Authority
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
REVENUES
Intergovernmental:
Federal grants
State grants
Total Intergovernmental
Miscellaneous:
Earnings on Deposits
Miscellaneous
Total Miscellaneous
Total Revenues
EXPENDITURES
Rent Assistance
Supplies
Depreciation
Total Expenditures
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
Actual
Variance
$ - $ - $ - $
2,549,309 2,549,309 2,614,740
2,549,309 2,549,309 2,614,740
2,549,309 2,549,309
2,319,314 2,319,314
232,013 232,013
2,551,327 2,551,327
(2,018)
8,671
33,872
42,543
2,657,283
65,431
65,431
8,671
33,872
42,543
107,974
2,470,038 (150,724)
335,832 (103,819)
1,053 (1,053)
2,806,923 (255,596)
(2,018) (149,640)
$ (2,018) $
2,329,617
(2,018) $ 2,179,977
(147,622)
2,329,617
$ 2,181,995
105
COUNTY OF WELD
STATE OF COLORADO
E-91 1 Authority
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
REVENUES
Miscellaneous:
Interest
Charges for services
Total Revenue
Expenditures
Depreciation
Purchased Services
Supplies
Other
Total Expenditures
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
Blank Page
Original Final
Actual
Variance
$ 10,000 $ 10,000 $ 14,420 $ 4,420
2,250,000 2,250,000 2,335,328 85,328
2,260,000 2,260,000 2,349,748 89,748
413,842
1,322,805
523,353
413,842
1,322,805
523,353
2,388,656
2,260,000 4,648,656
- (2,388,656)
6,377,632 6,377,632
$ 6,377,632 $ 3,988,976
500,625
1,583,468
171,493
1,726,704
(86,783)
(260,663)
351,860
661,952
3,982,290 666,366
(1,632,542) 756,114
6,377,632
$ 4,745,090 $ 756,114
106
107
The public report burden for this information collection is estimated to average 380 hours annually.
Financial Planning 02101
Form # 350-050-36
LOCAL HIGHWAY FINANCE REPORT
City or County: County
YEAR ENDING :
December 2014
This Information From The Records Of County of Weld:
Prepared By: Barbara Connolly
Phone: (970) 356-4000 X 4445
I. DISPOSITION OF HIGHWAY -USER
ITEM
1. Total receipts available
REVENUES AVAILABLE
A. Local
Motor -Fuel
Taxes
PURPOSES
FOR LOCAL
B. Local
Motor -Vehicle
Taxes
HI. DISBURSEMENTS
AND
GOVERNMENT EXPENDITURE
C. Receipts from D. Receipts from
State Highway- Federal Highway
User Taxes Administration
FOR ROAD
STREET PURPOSES
2. Minus amount used for collection expenses
3. Minus amount used for nonhighway purposes
4. Minus amount used for mass transit
5. Remainder used for hi _hwa ur sses
111. RECEIPTS FOR ROAD AND STREET
ITEM
AMOUNT
ITEM
AMOUNT
A. Receipts from local sources:
A. Local highway disbursements:
I . Local highway -user taxes
I . Capital outlay (from page 2)
14,204,026
a. Motor Fuel (from Item 1.A.5.)
2. Maintenance:
38,459,774
b. Motor Vehicle (from Item I.B.5.)
3. Road and street services:
c. Total (a.+b.)
2. General fund appropriations
5,000,000
a. Traffic control operations
b. Snow and ice removal
990,413
3. Other local imposts (from page 2)
21,504,126
c. Other
420,678
4. Miscellaneous local receipts (from page 2)
38,042,181
d. Total (a. through c.)
141 1,09I
5. Transfers from toll facilities
4. General administration & miscellaneous
2,826,306
6. Proceeds of sale of bonds and notes:
5. Highway law enforcement and safety
a. Bonds - Original Issues
6. Total (1 through 5)
56,901,196
b. Bonds - Refunding Issues
B. Debt service on local obligations:
c. Notes
I. Bonds:
d. Total (a. _ b. + c.)
0
a. Interest
7. Total (1 through 6)
64,546,307
b. Redemption
B. Private Contributions
c. Total (a. + b.)
0
C. Receipts from State government
(from page 2)
2. Notes:
18,805,426
a. Interest
D. Receipts from Federal Government
(from page 2)
b. Redemption
271,406
c. Total (a. + b.)
0
E. Total receipts (A.7 + B + C + D)
IV.
83,623,139
LOCAL HIGHWAY
(Show all entries
3. Total (1.c + 2.c)
0
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements (A.6 + 8.3 + C + D)
56,901,196
DEBT STATUS
at par)
Opening Debt
Amount Issued
Redemptions
Closing Debt
y
A. Bonds Total
0
I . Bonds (Refunding Portion)
B. Notes (Total)
0
V. LOCAL ROAD AND STREET FUND BALANCE
A. Beginning Balance
B. Total Receipts
C. Total Disbursementd
D. Ending Balance
E. Reconciliation
52,320;790
83,623,139
56,901,196 I
79,042,733
(0)
Notes and Comments:
FORM FHWA-536 (Rev. 1-05)
PREVIOUS EDITIONS OBSOLETE
1
(Next Page)
2014 Local Highway Finance Report.xls
108
LOCAL HIGHWAY FINANCE REPORT
STATE:
Colorado
YEAR ENf)TNG (mm/yy):
December 2014
II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL
ITEM
AMOUNT
ITEM
AMOUNT
A.3. Other local im osts:
A.4. M . 11: i. 1 1 - i t, .
a. Property Taxes and Assessments
11,476.785
a. Interest on investments
45,546
b. Other local imposts:
b. Traffic Fines & Penalities
1. Sales Taxes
c. Parking Garage Fees
2. Infrastructure & Impact Fees
d. Parking Meter Fees
3. Liens
c. Sale of Surplus Property
4. Licenses
1. Charges for Services
2,099,273
5. Specific Ownership &tor Other
10,027,341
g. Other Misc. Receipts
1,942,863
6. Total (1. through 5.)
10,027,341
h. Other
33,954,499
c. Total (a. + b.)
21,504,126
(Carry forward to a c 1)
i. Total (a. throu_ h.)
38,042,181
(Can ' forward to ale 1)
ITEM
AMOUNT ITEM
AMOUNT
C. Recei I is from State Government
D. Recei its from Federal Government
1. Hi hwa -user taxes
9,933,921 1. FHWA (from Item 1.D.5.)
2. State general funds
2. Other Federal agencies:
3. Other State funds:
a. Forest Service
229,581
a. State bond proceeds
b. FEMA
b. Project Match
c. HUD
c. Motor Vehicle Registrations
d. Other (Specify) - DOLA Grant
349,616 d. Federal Transit Admin
e. U.S. Corps of Engineers
e. Other (Specify)
8,521,889 f. Other Federal
41,825
I Total (a. through e.)
8,871,505 g. Total (a. through f.)
271,406
4. Total 1. + 2. - 3.t
18,805.426 3. Total 1. + 2 _
(Carry forward to page 1)
Ill. DISBURSEMENTS FOR ROAD AND STREET PURPOSES - DETAIL
A.1. Ca a ital. outla r:
a. Right -Of -Way Costs
ON NATIONAL
HIGHWAY
OFF NATTONAI_
HIGHWAY
SYSTEM
(b)
1,674,951
TOTAL.
(c)
1,674351
SYSTEM
(a)
b. En_ineerin Costs
c. Construction:
(1). New Facilities
6,524.584
6,524,584
0
(2). Capacity Improvements
23,996
23,996
(3). System Preservation
5,980,494
5,980,494
(4). System Enhancement & Operation
(5). Total Construction (1) + (2) + (3) + (4)
0
6,004.490
0
6,004,490
d. Total Ca ital Outla ines l.a. + 1.b. + 1.c.5
0
14,204,026
14,204,026
(Carry Forward to page I )
Notes and Comments:
FORM FHWA-536 (Rev.1-05)
PREVIOUS EDITIONS OBSOLETE
2
109
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Net Position
Internal Service Funds
December 31, 2014
ASSETS
Current Assets:
Cash and cash equivalents
Receivables (net of allowances for uncollectables):
Property taxes receivable
Delinquent property taxes
Accounts
Inventory
Other Assets
Total current assets
Fixed assets:
Improvements other than buildings
Construction in progress
Buildings
Machinery and Equipment
Accumulated Depreciation
Total Fixed Assets
Total assets
LIABILITIES, DEFERRED INFLOWS AND NET
POSITION
Current Liabilities
Accounts Payable
Accrued Liabilites
Unearned Revenues
Total Current Liabilities
Deferred Inflows of Resources
Property Taxes
Total Deferred Inflows of Resources
Total Liabilities and Deferred Inflows
Net Position
Invested in capital assets
Restricted for
Insurance Claims
Unrestricted
Total net position
Health
Motor Vehicle Insurance
Insurance
$ 2,710,896 $ 11,242,500 $ 4,076,907
15,509
57,329
68,851
2,036,491
2,783,734 11,311,351 6,113,398
1,131,815
36,000
2,048,377
41,663,755
(24,492,525)
20,387,422
$ 23,171,156 $ 1 1,31 1,351 $ 6,1 13,398
$ 443,812 $ 65,118 $ 16,780
2,832,991 1,924,616
1,388,562
443,812 4,286,671 1,941,396
2,039,660
2,039,660
443,812 4,286,671 3,981,056
20,387,422
2,339,922
7,024,680 2,132,342
$ 22,727,344 $ 7,024,680 $ 2,132,342
Total Internal
Phone Services Service Funds
$ 1,352,607 $ 19,382,910
2,299
2,036,491
17,808
57,329
68,851
1,354,906 21,563,389
- 1,131,815
- 36,000
- 2,048,377
1,482,682 43,146,437
(1,162,853) (25,655,378)
319,829 20,707,251
$ 1,674,735 $ 42,270,640
$ 4,034 $ 529,744
22,752 4,780,359
1,388,562
26,786 6,698,665
2,039,660
2,039,660
26,786 8,738,325
319,829 20,707,251
9,157,022
1,328,120 3,668,042
$ 1,647,949 $ 33,532,315
111
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Revenues, Expenditures and Changes in Net Position
Internal Service Funds
For the fiscal year ended December 31, 2014
Operating revenues:
Employer Contributions
Charges for Services
Total operating revenues
Operating expenses:
Personnel Services
Supplies
Purchased Services
Insurance and Bonds
Depreciation
Other
Claims
Total operating expendituers
Operating income (loss)
Nonoperating Revenues (Expenses)
Taxes
Miscellaneous
Earnings on investments
Grants
Gains (loss) on Disposal
Judgement and Damages
Total nonoperating revenues (expenses)
Income (loss) before contributions and transfers
Transfers - in
Changes in net position
Total net position - beginning
Total net position - ending
Health
Motor Vehicle Insurance
Insurance
$ - $ 17,395,414 $
9,512,382 895
9,512,382 17,396,309
2,426,532 11,827
4,528,552 1,358,125
3,667,992
70,842 134,591
73,171
73,171
2,365
39,335
457,299
- 12,502,603 2,130,460
10,693,918 14,007,146 2,629,459
(1,181,536) 3,389,163 (2,556,288)
1,994,934
14,997
29,314
41,305
489,632
19,060 - 119,339
564,994 - 2,143,587
(616,542) 3,389,163
1,900,000
1,283,458 3,389,163 87,299
21,443,886 3,635,517 2,045,043
$ 22,727,344 $ 7,024,680 $ 2,132,342
(412,701)
500,000
Total Internal
Phone Services Service Funds
$ - $ 17,395,414
1,306,322 10,892,770
1,306,322 28,288,184
239,057 239,057
10,980 2,451,704
778,869 6,704,881
457,299
151,635 3,819,627
50,127 255,560
- 14,633,063
1,230,668 28,561,191
75,654 (273,007)
1,994,934
14,997
29,314
41,305
489,632
138,399
2,708,581
75,654 2,435,574
2,400,000
75,654 4,835,574
1,572,295 28,696,741
$ 1,647,949 $ 33,532,315
113
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Internal Service Funds
For the fiscal year ended December 31, 2014
Motor Vehicle Health Insurance Insurance
Fund Fund Fund
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers
Cash flows from internal customers
Cash payments to external suppliers for goods and services
Cash payments to internal suppliers for goods and services
Cash payments to employees for services
Judgements/damages/losses
Miscellaneous revenues
Net cash provided (used) by operating activities
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes
Transfers/Advances
Grants
Net cash provided by noncapital financing activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Proceeds from sale of capital assets
financing activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments
Net Increase (decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
87,505 -
9,199,848 17,468,926 73,172
(6,826,591) (13,759,256) (2,211,583)
(161,604) (18,712)
19,060 - 119,339
14,997
2,333,215 3,690,958 (2,019,072)
1,900,000
1,055,793
dm
1,994,445
500,000
2,955,793 - 2,494,445
(4,185,536)
618,287
(3,567,249)
dm
- - 29,314
1,721,759 3,690,958 504,687
989,137 7,551,542 3,572,220
Cash and Cash Equivalents at End of Year 2,710,896
Reconciliation of operating income to net cash
provided (used) by operating activities:
Operating income (loss)
Adjustments to reconcile operating income to
net cash provided (used ) by operating activities:
Depreciation expense
Judgements/damages/losses
Miscellaneous revenue
Change in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in due from other funds
(Increase) decrease in inventories
(Increase) decrease in other assets
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in other liabilities
Increase (decrease) in deferred revenue
Total adjustments
Net cash provided (used) by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Loss on Disposal of Asset
11,242,500 4,076,907
(1,181,536) 3,389,163 (2,556,288)
3,667,992
19,060 - 119,339
14,997 - -
7,618 5,833 (4,911)
5,949
39,852
- (68,851) 403,543
(210,220) 26,863 (212,206)
- 285,814 231,655
(30,497) - (5,115)
52,136 4,911
3,514,751
301,795 537,216
2,333,215 3,690,958 (2,019,072)
33,604
114
Phone Service
Fund
Total Internal
Service Funds
41,392
1,282,861
(269,841)
(736,288)
(71,529)
as
as
246,595
1.
246,595
1,106,012
128,897
28,024,807
(23,067,271)
(916,604)
(71,529)
138,399
14,997
4,251,696
1,994,445
2,400,000
1,055,793
5,450,238
(4,185,536)
618,287
(3,567,249)
29,314
6,163,999
13,218,911
1,352,607 19,382,910
75,654
151,635
16,520
im
(541)
3,327
(273,007)
3,819,627
138,399
14,997
25,060
5,949
39,852
334,692
(396,104)
520,796
(35,612)
57,047
170,941 4,524,703
246,595 4,251,696
33,604
115
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Changes in Assets and Liabilities
Fiduciary Funds
For the fiscal year ended Year Ended December 31, 2014
Balance Balance
1/1/2014 Additions Deductions 12/31/2014
GENERAL AGENCY FUND
Assets:
Cash and Investments
Total Assets
Liabilities:
Accounts Payable
Due to other Goverments
Total Liabilities
PAYROLL AGENCY FUND
Assets:
Cash and Investments
Accounts Receivable (net of allowance for
uncollectible):
Total Assets
Liabilities:
Accounts Payable
Total Liabilities
EMPLOYEE FLEXIBLE SPENDING
Assets:
Cash and Investments
Total Assets
Liabilities:
Accounts Payable
Total Liabilities
TOTAL - ALL AGENCY FUNDS
Assets:
Cash and Investments
Accounts Receivable
Total Assets
Liabilities:
Accounts payable
Due to other governments
Total Liabilities
$ 5,162,763 $ 371,773,600 $ 367,966,793 $ 8,969,570
$ 5,162,763 $ 371,773,600 $ 367,966,793 $ 8,969,570
$ - $ 40,206 $ 40,206 $
5,162,763 371,393,446 367,586,639 8,969,570
$ 5,162,763 $ 371,433,652 $ 367,626,845 $ 8,969,570
$ 206,146 $ 24,867,868 $ 24,931,677 $ 142,337
703 16,343 15,562 1,484
$ 206,849 $ 24,884,211 $ 24,947,239 $ 143,821
$ 206,849 $ 26,426,017 $ 26,489,045 $ 143,821
$ 206,849 $ 26,426,017 $ 26,489,045 $ 143,821
$ 51,039 $ 45,723 $ 51,039 $ 45,723
$ 51,039 $ 45,723 $ 51,039 $ 45,723
$ 51,039 $ 45,722 $ 51,038 $ 45,723
$ 51,039 $ 45,722 $ 51,038 $ 45,723
$ 5,419,948 $ 396,687,191 $ 392,949,509 $ 9,157,630
$ 703 $ 16,343 $ 15,562 $ 1,484
$ 5,420,651 $ 396,703,534 $ 392,965,071 $ 9,159,1 14
$ 257,888 $ 26,51 1,945 $ 26,580,289 $ 189,544
5,162,763 371,393,446 367,586,639 8,969,570
$ 5,420,651 $ 397,905,391 $ 394,166,928 $ 9,159,114
116
COUNTY OF WELD
STATE OF COLORADO
Northern Colorado Regional Forensic Laboratory
Schedule of Revenues, Expenses and
Changes in Net Position - Budget and Actual
For the fiscal year ended Year Ended December 31, 2014
Budgeted
Operating Expenses:
Supplies
Purchased Services
Other
Total Operating Expenses
Operating Income (Loss)
N onoperating Revenues:
Federal grants
Total Nonoperating Revenues
Net Income (Loss)
Net Position at Beginning of Year
Net Position at end of Year
Original Final
Actual
- $ 6,500 $
179,500
Variance
6,211 $
140,596
2,808
289
38,904
(2,808)
186,000 149,615 (36,3 85)
(186,000) (149,615) 36,385
186,000 149,615 (36,385)
186,000 149,615 (36,385)
117
COUNTY OF WELD
STATE OF COLORADO
Motor Vehicle Fund
Schedule of Revenues, Expenses and
Changes in Net Position - Budget and Actual
For the fiscal year ended December 31, 2014
Budgeted
Operating Revenues:
Charges for services
Miscellaneous
Total Operating Revenues
Operating Expenses:
Supplies
Purchased Services
Depreciation
Other
Total Operating Expenses
Operating income (loss)
Nonoperating Revenues (Expenses):
Other
Grant
Gain/Loss on Disposal
Judgements and Damages
Total Nonoperating Revenues(Expenses)
Income(Loss) before contributions and transfers
Transfers - in
Net Income (Loss)
Net Position at Beginning of Year
Original Final
Actual
$ 5,690,000 $ 7,310,000 $
3,130,000 3,130,000
8,820,00() 10,440,000
2,521,000
3,036,000
3,130,000
71,000
2,521,000
4,656,000
3,130,000
71,000
8,758,000 10,378,000
62,000 62,000
1,593,829 1,593,829
(39,000) (39,000)
1,554,829
1,554,829
1,616,829 1,616,829
1,900,000
1,616,829 3,516,829
Variance
5,822,164 $ (1,487,836)
3,690,218 560,218
9,512,382 (927,618)
2,426,532
4,528,552
3,667,992
70,842
10,693,918
(1,181,536)
14,997
41,305
489,632
19,060
564,994
(616,542)
1,900,000
1,283,458
21,443,886 21,443,886 21,443,886
94,468
127,448
(537,992)
158
(315,918)
(1,243,536)
14,997
(1,552,524)
528,632
19,060
(989,835)
(2,233,371)
(2,233,371)
Net Position at End of Year $ 23,060,715 $ 24,960,715 $ 22,727,344 $ (2,233,371)
118
COUNTY OF WELD
STATE OF COLORADO
Health Insurance Fund
Schedule of Revenues, Expenses and
Changes in Net Position - Budget and Actual
For the fiscal Year Ended December 31, 2014
Budgeted
Operating Revenues:
Employee Premiums
Operating Expenses:
Supplies
Purchased Services
Other
Insurance Claims
Total Operating Exepenses
Operating Income (loss)
Net Income (Loss)
Net Position at Beginning of Year
Net Position at end of Year
Original Final
Actual Variance
$ 17,914,044 $ 17,914,044 $ 17,396,309 $ (517,735)
196,500
680,900
1,541,661
15,494,983
196,500
680,900
1,541,661
15,494,983
17,9 1 4,044 17,9 1 4,044
11,827
1,358,125
134,591
12,502,603
184,673
(677,225)
1,407,070
2,992,380
14,007,146 3,906,898
3,389,163
3,389,163
3,635,517 3,635,517 3,635,517
3,389,163
3,389,163
$ 3,635,517 $ 3,635,517 $ 7,024,680 $ 3,389,163
119
COUNTY OF WELD
STATE OF COLORADO
Insurance Fund
Schedule of Revenues Expenses and
Changes in Net Position - Budget and Actual
For the fiscal Year Ended December 31, 2014
Budgeted
Original Final
Operating Revenues:
Charges for services $ 90,000 $
Operating Expenses:
Supplies
Purchased Services
Insurance and Bonds
Insurance Claims
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
General property taxes
Penalties & interest
Interest
Judgements and Damages
Total Nonoperating Revenues (Expenses)
Income(Loss) before contributions and transfers
Other Financing Sources (Uses)
Transfers - in
Net Income (Loss)
Net Position at Beginning of Year
Actual Variance
90,000 $
3,500
43,500
530,000
1,563,000
3,500
43,500
530,000
1,963,000
2,140,000
2,540,000
(2,050,000)
(2,450,000)
2,000,000
30,000
20,000
2,000,000
30,000
120,000
2,050,000
2,150,000
(300,000)
(300,000)
73,171 $ (16,829)
2,365 1,135
39,335 4,165
457,299 72,701
2,130,460 (167,460)
2,629,459 (89,459)
(2,556,288) (106,288)
1,993,771
1,163
29,314
119,339
2,143,587
(6,229)
1,163
(686)
(661)
(6,413)
(412,701) (112,701)
500,000 500,000
87,299 387,299
2,045,043 2,045,043 2,045,043
Net Position at End of Year $ 2,045,043 $ 1,745,043 $ 2,132,342 $ 387,299
120
COUNTY OF WELD
STATE OF COLORADO
Phone Service Fund
Schedule of Revenues, Expenses and
Canges in Net Position - Budget and Actual
For the Fiscal Year Ended December 31, 2014
Budgeted
Original Final Actual Variance
Operating Revenues:
Charges for services $ 1,292,248 $ 1,292,248 $ 1,306,322 $ 14,074
Operating Expenses:
Personnel Services
Supplies
Purchased Services
Depreciation
Other
Total Expenditures
Operating Income (Loss)
Net Income (Loss)
249,429 249,429 239,057 10,372
14,100 14,100 10,980 3,120
733,966 733,966 778,869 (44,903)
244,626 244,626 151,635 92,991
50,127 50,127 50,127
1,292,248 1,292,248 1,230,668 61,580
75,654 75,654
75,654 75,654
Fund Balance, Beginning of Year 1,572,295 1,572,295 1,572,295
Fund Balance, End of Year $ 1,572,295 $ 1,572,295 $ 1,647,949 $ 75,654
Blank Page
121
122
STATISTICAL
SECTION
STATISTICAL SECTION
(unaudited)
This part of the Weld County Government's comprehensive financial report presents detailed information
as a context for understanding what the information in the financial statements, note disclosures, and
required supplementary information says about the government's overall financial health.
Contents
Financial Trends
These schedules contain trend information to help the reader
understand how the government's. financial performance and
well-being have changed over time.
Revenue Capacity
These schedules contain information to help the reader assess
the government's most significant local revenue source, the
property tax.
Debt Capacity
Weld County is without bonded debt and, accordingly, the
following statistical tables are not presented: Ratios of
Outstanding Debt by Type and Ratios of General Bonded Debt
Oustanding.
Demographic and Economic Infonnation
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
government's .financial activities take place.
Operating Information
These schedules contain service and infrastructure rastructure data to help
the reader understand how the information in the government's
financial report relates to the services the government provides
and the activities it performs.
Page
124
132
137
141
146
Sources_ Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
COUNTY OF WELD
STATE OF COLORADO
Net Position by Component
Last Ten Years
(accrual basis of accounting)
(Tovermental activities
Invested in capital assets, net of related debt
Restricted for
Programs
Emergencies
Claims
Public Works
Other
Unrestricted
Total governmental activities net position
Iusiness-type activities
Invested in captial assets, net of related debt
Unrestricted
Total business -type activities net position
Primary government
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total primary government net position
Fiscal Year
2005 2006 2007
$ 231,271,356 $ 233,626,280 $ 249,237,323
4,695,690
4,000,000
1,748,950
3,953,450
4,000,000
1,748,951
3,988,022
5,000,000
1,748,951
2008
$ 253,009,697
4,033,041
5,000,000
1,270,613
2009
$ 256,826,307
4,524,110
6,000,000
2,270,613
39,782,093 48,545,826 40,122,962 37,397,773 40,819,002
$ 281,498,089 $ 291,874,507 $ 300,097,258 $ 300,711,124 $ 310,440,032
$ 809,643 $ 852,705 $ 987,445 $ 1,076,125 $ 1,011,224
1,508,322 2,118,077 2,191,453 2,776,179 2,478,408
$ 2,317,965 $ 2,970,782 $ 3,178,898 $ 3,852,304 $ 3,489,632
$ 232,080,999
10,444,640
41,290,415
$ 283,816,054
$ 234,478,985
9,702,401
50,663,903
$ 294,845,289
$ 250,224,768
10, 736,973
42,314,415
$ 303,276,156
$ 254,085,822
10,303,654
40,173,952
$ 304,563,428
$ 257,837,531
12,794,723
43,297,410
$ 313,929,664
2010 2011 2012 2013 2014
$ 254,893,784 $ 252,365,188 $ 260,630,887 $ 270,069,712 $ 297,892,975
4,912,503 5,360,845 6,197,551 5,736,608 8,104,172
6,000,000 6,000,000 6,000,000 6,000,000 7,000,000
4,734,410 4,734,409 4,734,409 4,734,409 4,734,409
- - 39,542,250 63,999,271 89,429,234
- - 1,000,426 1,485,432 1,049,628
66,081,025 74,131,389 50,626,441 58,762,664 66,196,157
$ 336,621,722 $ 342,591,831 $ 368,731,964 $ 410,788,096 $ 474,406,575
$ 1,305,614 $ 1,524,148 $ $ - $
3,194,266 3,526,143 - (1,323) 579
$ 4,499,880 $ 5,050,291 $ $ (1,323) $ 579
$ 256,199,398 $ 253,889,336 $ 260,630,887 $ 270,069,712 $ 297,892,975
15,646,913 16,095,254 57,474,636 81,955,720 110,317,443
69,275,291 77,657,532 50,626,441 58,761,341 66,196,736
$ 341421,602 $ 347,642,122 $ 368,731,964 $ 410,786,773 $ 474,407,154
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Position
Last Ten Years
(accrual basis of accounting)
Expenses
Governmental activities:
General government
Public safety
Streets and highways
Health and welfare
Culture and recreation
Economic assistance
Interest on long-term debt
Total governmental activities expenses
Business -type activites:
Paramedic service
Northern Colorado Regional Crime Lab
Total primary government expenses
Program Revenues
Governmental activates:
Charges for services:
General government
Public safety
Streets and highways
Health and welfare
Culture and recreation
Economic assistance
Operating grants and contributions
Capital grants and contributions
Total governmental activities program revenues
Business -type activities:
Paramedic service
Northern Colorado Regional Crime Lab
Total primary government revenues
Net (Expenses)fRevenue
Governmental activities
Business -type activities
Total primary government net
General Revenues and Other Changes in Net Position
Governmental activities:
Taxes:
Property taxes
Specific Ownership
Other
Royalities
Miscellaneous
Unrestricted investment earnings
Donated capital assets
Transfers
Total governmental activities
Business -type activities:
Paramedic service
Northern Colorado Crime Lab
Total primary government
Change in Net Position
Governmental activities
Business -type activities
Total primary government
2005
$ 23,047,725 $
30,449,441
36,919,372
24,843,147
771,295
13,736,745
340,411
2006
26,641,373
32,562,998
37,068,628
26,179,807
1,549,379
11,747,943
322,293
2007
$ 35,301,327
36,717,165
34,637,731
31,026,419
1,008,703
14,403,662
335,771
•
2008
$ 31,019,065
40,496,490
40,795,016
35,1 17,22.5
1,077,743
14,601,330
2009
$ 31,738,352
40,649,718
31,123,536
39,882,326
1,013,683
15,546,027
130,108,136
136,072,421 153,430,778 163,106,869
•
•
•
159,953,642
6,371,413
7,156,700
8,444,840
9,289,761
9,310,991
$ 136,479,549 $ 143,229,121 $ 161,875,618 $ 172,396,630 $ 169,264,633
$ 9,792,423 $
5,430,422
3,433,713
13,664,206
333,293
1,156,012
27,885,047
12,265,623
6,3 78,749
4,023,310
14,949,936
345,990
1,186,129
30,045,943
61,695,116
7,829,714
69,195,680
7,809,516
$ 10,043,033 $
4,998,285
3,566,774
17,504,660
453,352
838,871
36,500,297
4,738,627 _
78,643,899
8,652,955
11,681,170
5,814,979
3,518,926
19,870,091
468,488
756,698
33,134,702
25,454
75,270,508
9,113,166
$ 8,728,521
5,658,339
3,262,996
21,091,150
448,990
1,041,768
36,580,590
76,812,354
7,563,318
69.524.830
77.005.196
87.296.854
(68,413,020)
1,458,301
$ (66,954,719) $
$ 56,382,533 $
6,627,991
3,733,025
2,679,442
355,784
(66,876,741)
652,816
(66,223,925)
(74,786,879)
208,115
$ (74,578,764)
62,124,792 $
6,614,819
5,266,786
4,539,172
7,602
(1,3 00,000)
84,383,674
(87,836,361)
(176,595)
$ (88,012,956)
67,215,993 $
7,056,071
3,546,134
84.375 672
(83,141,288)
(1,747,673)
$ (84,888,961)
72,735,158 $
7,035,189
5,454,324
5,191,430 4,075,554
850,000)
75,047,892
6,167,691
3,472,065
1,707,235
5,468,676
2,391,636
(1,3 85,000)
69,778,775
77,253,171
83,009,628 88,450,225
92,870,195
850,000
1,385,000
$ 69,778,775 $ 77,253,171 $ 83,009,628 $
89,300,225
$ 94,255,195
$ 1,365,755 $ 10,376,430 $ 8,222,749 $
1,458,301 652,816 208.115
$ 2,824,056
613,864 $ 9,728,907
673,405 (362,673)
$ 11,029,246 $ 8,430,864 $ 1,287,269 $ 9,366,234
126
2010
$ 31,497,117
40,551,255
34,662,990
37,946,589
1,215,481
9,262,302
2011
$ 31,930,407
42,613,038
37,519,293
35,881,864
1,123,268
8,115,722
2012
$ 34,788,024
44,204,968
37,223,683
36,853,734
1,345,018
7,420,075
2013
$ 43,458,478 $
47,903,331
39,964,090
38,792,474
1,511,184
8,481,320
2014
46,770,013
54,027,026
42,894,441
39,085,217
1,792,648
9,408,488
155,135,734 157,183,592 161,835,502 180,110,877 193,977,833
6,349,218
5,964,112
2,846,859
73,321 147,713
$ 161,484,952 $ 163,147,704 $ 164,682,361 $ 180,184,198 $ 194,125,546
$ 10,1 17,110 $
7,021,139
1,932,790
21,311,474
549,483
834,429
27,858,758
12,644,748
6,023,109
2,022,037
19,360,887
619,316
822,309
24,034,211
$ 11,570,917
7,294,578
3,439,523
22,209,032
725,868
381,199
23,821,017
$ 12,595,814 $
8,981,482
4,473,145
24,231,535
928,631
493,180
32,277,806
13,477,033
13,229,980
5,825,407
25,041,461
1,154,300
567,753
30,442,859
69,625,183
5,859,468
65,526,617
6,514,522
69,442,134
1,954,205
83,981,593
71,998
89,738,793
149,615
75.484.651 72.041.139
71.396.339
84.053.591
89.888.408
(85,510,551)
(489,750)
$ (86,000,301)
(91,656,975)
550,410
$ (91,106,565)
$ 95,251,609 $
6,018,849
845,578
2,556,866
6,415,403
2,103,942
(1,500,000)
(92,393,368) (96,129,284) (104,239,040)
(892,654) (1,323) 1,902
$ (93,286,022) $ (96,130,607) $(104,237,138)
76,808,723 $
5,743,784
1,794,415
7,169,988
4,3 05,446
1,804,728
88,229,111
7,302,134
2,410,032
12,083,892
3,009,211
1,341,489
- 4,157,638
$ 105,940,590
7,347,314
2,291,667
17,325,773
4,098,817
1,181,245
$ 115,694,397
10,028,385
4,350,529
31,503,068
4,807,802
1,473,338
111,692,247
97,627,084 118,533,507 13 8,185,406
167,857,519
1,500,000
- (4,157,638)
$ 113,192,247 $ 97,627,084 $ 114,375,869 $ 138,185,406 $ 167,857,519
$ 26,181,696 $ 5,970,109 $ 26,140,139 $ 42,056,122 $ 63,618,479
1,010,250 550,410 (5,050,292) (1,323) 1,902
$ 27,191,946 $ 6,520,519 $ 21,089,847 $ 42,054,799 $ 63,620,381
127
COUNTY OF WELD
STATE OF COLORADO
Fund Balances of Governmental Funds
Last Ten Years
(accrual basis of accounting)
2005 2006 2007 2008 2009
General Fund
Reserved
Unreserved
Nonspendable*
Restricted*
Committed*
Assigned*
Unassigned*
Total general fund
All other Governmental Funds
Reserved
Unreserved
Unreserved, reported in:
Special revenue funds
Capital projects funds
Debt service funds
Nonspendable*
Restricted*
Committed*
Assigned*
Unassigned*
$ 1,486,188 $ 946,073 $ 1,081,217 $ 1,161,271 $ 846,808
7,648,920 10,630,592 7,007,528 10,645,617 9,960,565
$ 9,135,108 $ 11,576,665 $ 8,088,745 $ 11,806,888 $ 10,807,373
8,834,511 19,019,004 12,074,704 12,631,501 9,861,718
26,155,751 25,281,236 27,791,990 25,032,274 32,475341
3,611,495 - 272,790 (2,064,635) 1,617,052
Total for all governmental funds $ 47,736,865 $ 55,876,905 $ 48,228,229 $ 47,406,028 $ 54,761,484
* Difference in find balance presentation is due to implementation of GASB 54 in 2011
128
2010 2011
$ 1,882,253 $
9,967,335
- 687,239
6,000,000
- 1,927,404
1,808,529
- 10,691,668
2012
$ $
1,216,973
6,863,582
2,305,309
615,428
10,126,783
2013
677,240
7,114,812
2,089,993
1,527,256
10,165,207
2014
683,377
7,671,021
2,105,601
1,581,113
11,437,583
$ 11,849,588 $ 21,114,840 $ 21,128,075 $ 21,574,508 $ 23,478,695
7,138,513
57,755,218
6,362,877
- 963,566
- 36,493,043
- 32,295,274
1,020,322
40,377,056
46,347,303
1,321,277
57,704,338
55,508,238
1,253,485
85,864,936
55,668,390
$ 83,106,196 $ 90,866,723 $ 108,872,756 $ 136,108,361 $ 166,265,506
129
COUNTY OF WELD
STATE OF COLORADO
Changes in Fund Balances, Governmental Funds
Last Ten Years
(accrual basis of accounting)
2005 2006 2007 2008 2009
Revenues
Taxes
Licenses and permits
Intergovernmental
Fines and forfeitures
Charges for Services
Miscellaneous
Fees
Total Revenues
Expenditures
Current:
General government
Public Safety
Public Works
Public health and welfare
Culture and recreation
Economic assistance
Capital outlay
Debt service
Interest
Principal
Total Expenditures
Excess of revenues over (under) expenditures
Other Financing Sources (Uses)
Transfers -in
Transfers -out
Total Other Financing Sources (Uses)
Net changes in Fund Balance
$ 63,261,095 $ 69,178,181 $ 74,627,631 $ 80,182,212 $ 84,642,477
2,119,419 3,188,354 2,129,731 2,089,925 1,467,282
41,110,202 44,982,577 53,886,023 52,887,281 61,100,082
204,530 135,908 416,668 295,246 323,411
8,618,819 8,232,213 7,800,131 8,898,865 8,939,683
7,582,510 13,377,598 9,567,707 12,523,751 7,132,908
8,175,907 8,602,079 8,061,587 7,845,617 7,546,475
131,072,482 147,696,910 156,489,478 164,722,897 171,152,318
22,384,671 25,366,204 32,605,930 29,061,657 28,311,209
29,834,629 31,881,427 35,945,956 38,564,419 38,668,759
25,490,667 26,315,156 31,798,757 36,643,514 29,595,637
24,284,817 25,993,962 30,940,641 34,585,229 39,287,986
775,903 1,550,929 1,011,311 1,077,592 1,014,422
13,572.861 11, 746,242 14,449.197 14,459.482 14,622,541
5,165,931 14,980,649 17,050,592 9,883,207 9,911,307
340,411 322,293 335,771 - -
121,849,890 138,156.862 164,138,155 164,275,100 161,411,861
9,222,592 9,540,048 (7.648,677) 447,797 9,740,457
7,436,144 11,309,847 4,340,010 4,914,085 7,583,632
7,436,144 12,609,847 4,340,010 6,184,085 9,968,632
- (1,300.000) - (1.270,000) (2,385,000)
$ 9,222,592 $ 8,240,048 $ (7,648,677) $ (822,203) $ 7,355,457
Debt Service as a percentage of noncapital expenditures 0.29 %
0.26 % 0.23 %
0.00 % 0.00 %
130
2010 2011 2012 2013 2014
$ 102,079,791 $ 84,310,617 $ 97,903,945 $ 115,265,310 $ 130,031,486
2,512,999 2,093,316 2,968,095 3,341,876 5,434,346
53,021,343 44,670,251 45,584,435 51,914,958 56,514,382
587,330 441,455 319,091 342,566 351,384
7,771,230 6,899,382 7,748,408 9,950,307 13,024,221
8,133,573 15,397,352 19,019,845 24,954,352 41,065,332
8,827,457 9,445,288 10,392,181 11,297,774 12,202,782
182,933,723 163,257,661 183,936,000 217,067,143 258,623,933
29,608,752 30,964,059 31,775,959 41,791,404 47,479,034
38,176,653 40,657,128 43,270,068 46,843,573 52,038,711
28,524,940 30,834,148 37,846,573 39,783,527 59,780,472
36,850,368 3.5,187,9.59 36,737,703 38,802,420 39,439,892
1,214,300 1,127,873 1,346,107 1,526,889 1,793,944
9,086,301 7,880,482 7,517,791 8,539,305 9,571.342
8,627,695 7,795,485 7,589,4.59 12,144,427 1.5,963,395
152,089,009 154,447,134 166,083,660 189,431,545 226,066.790
30,844,714 8,810,527 17,852,340 27,635,598 32,557,143
7,157,161 15,807,328 11,194,959 13,766,733 10,970,458
9,657,161 16,857,328 11,041,260 14,166,733 13,370,458
(2,500,000) (1.050,000) 153,699 (400,000) (2,400,000)
$ 28,344,714 $ 7,760,527 $ 18,006,039 $ 27,235,598 $ 30,157,143
0.00 %
0.00 % 0.00 %
0.00 % 0.00 %
COUNTY OF WELD
STATE OF COLORADO
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Years
Levy
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Vacant
Land
115,005,330
110,566,010
132,402,840
125,609,000
114,462,060
107,499,350
82,601,960
76,770,990
67,644,470
62,623,500
Residential
Property
972,251,070
1,051,061,180
1,218,082,640
1,258,374,790
1,147,417,980
1,161,670,030
1,1 10,455,180
1,126,143,600
1,125,171,520
1,153,472,230
Source: Office of the Weld County Assessor
Commercial
Property
507,867,420
538,352,810
631,036,750
654,957,800
703,405,460
713,727,230
700,148,970
741,004,020
717,135,660
733,310,060
Industrial
Property
155,227,960
194,235,560
214,051,130
216,214,910
281,991,090
338,066,670
343,525,350
405,141,700
444,712,190
540,61 1,520
Auricultural
172,592,990
175,708,230
96,371,890
97,874,960
100,747,790
100,999,290
117,189,830
120,086,240
141,969,440
148,595,520
Natural
Resources
9,310,740
10,876,640
14,538,010
14,996,920
15,959,790
12,388,270
12,839,310
12,176,900
14,519,910
14,908,830
Note: The assessment ratio for Residential Property was 10.36 in 1995, changed to 9.74 in 1997, 9.15 in 2001 and 7.96 in 2003
as determined by State Law. Commercial Property and non-residential Personal Property has been assessed at 29% of
actual value throughout the ten-year time frame.
132
Oil & Gas
1,279,782,160
1,736,735,240
1,749,119,710
1,709,997,160
2,868,304,890
1,673,838,130
2,439,298,540
3,382,053,530
3,900,510,227
5,738,450,910
State
Assessed
403,287,500
386,413,500
412,859,500
487,797,900
538,504,800
593,020,000
615,803,700
650,106,300
707,171,100
738,109,300
Total Taxable
Assessed Value
3,615,325,170
4,203,949,170
4,468,462,470
4,565,823,440
5,770,793,860
4,701,208,970
5,421,862,840
6,513,483,280
7,118,834,517
9,130,081,870
Estimated
Actual
Taxable Value
19,255,338,644
21,01 1,080,893
22,698,462,039
23,564,608,165
24,007,360,964
23,154,987,218
22,248,958,038
25,455,503,949
33,821,697,185
29,739,252,147
Total Direct
Tax Rate
19.957
17.900
16.804
16.804
16.804
16.804
16.804
16.804
16.804
15.800
Assessed
Value as a
Percentage of
Actual Value
18.776 %
20.008 %
19.686 %
19.376 %
24.038 %
20.303 %
24.369 %
25.588 %
21.048 %
30.700 %
COUNTY OF WELD
STATE OF COLORADO
Property Tax Rates Direct and Overlapping Governments
Last Ten Years
General
Levy Year Government
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
"13.909
12.321
11.487
11.736
11.842
11.389
"10.479
10.476
1 1.788
12.797
Total Direct
Road & Bridge Public Welfare Contingent Capital Insurance County
2.002
1.847
1.668
1.647
1.613
1.498
1.303
1.303
1.639
1.839
1.772
"1.551
1.333
1.293
1.266
1.965
1.863
1.864
1.203
0.941
0.535 1.488
0.360 1.544
0.619 1.399
0.448 1.344
1.754
0.215 1.415
1.491 1.342
1.492 1.343
0.713 1.176
0.251
0.277
0.298
0.336
0.329
0.322
0.326
0.326
0.285
0.223
Overlapping Rates
Levy
Year
Direct City of School Aims Weld
County Greeley District 6 College Library
2005 19.957 11.274 44.711 6.328 3.249
2006 17.900 11.274 41.129 6.357 3.281
2007 16.804 11.274 40.760 6.330 3.261
2008 16.804 11.274 36.922 6.308 3.253
2009 16.804 11.274 36.600 6.323 3.260
2010 16.804 11.274 36.633 6.312 3.255
2011 16.804 11.274 37.104 6.360 3.281
2012 16.804 11.274 37.856 6.355 3.271
2013 16.804 11.274 38.175 6.020 3.261
2014 15.800 11.274 37.880 6.330 3.267
The basis for the property tax rates is per $1,000 assessed valuation
Source: Office of the Weld County Assessor.
19.957
17.900
16.804
16.804
16.804
16.804
16.804
16.804
16.804
15.g00
134
COUNTY OF WELD
STATE OF COLORADO
Principle Property Tax Payers
Current Year and Nine Years Ago
Noble Energy Inc
Kerr-McGee Oil & Gas Onshore 12
Encana Oil & Gas OnShore LP
Petroleum Development Corp (PDC)
Bonanza Creek Energy Inc
Public Service Company of CO (Xcel)
DC: P Midstream LP
Kerr McGee Gathering !LC
Carrizo Oil & Gas Inc
Leprino Foods Company
Kerr-McGee Rocky Mountain Corp
Patina Oil & Gas Corp
Rocky Mountain Energey Center
Petro -Canada Resoureces (USA) Inc
Merit Energy
Eastman Kodak Company
Duke Energy Field Services
Source:
Weld County Assessor
2014
Taxable
Assessed
Value
Rank
S 2,002,942,720 1
1,830,318,000 2
399;230,730 3
339,824,330 4
285,524,130 5
250,070,600 6
182,289,110 7
127;427,700 8
107,845,270 9
99,121,120 10
S 5,624,593,710
Percentage
of Total County
Taxable
Assessed
Value
21.94 %
20.05 %
4.37 %
3.72 %
3.13 %
2.74 %
2.00 %
1.40 %
1.18 %
1.09 %
61.62 %
2005
'Taxable
Assessed
Value
Rank
128;268,320 3
58,548,890 6
102,537,900 4
440,188,500 1
398,688,580 2
97,893,000 5
53,642,060 7
52,813,030 8
35,866,990 9
34,357,980 10
S 1,402,805,250
Percentage
of Total County
Taxable
Assessed
Value
3.55 %
1.62%
2.84 Vu
12.18 %
11.03 %
2.71 %
1.48 %
1.46%
0.99 %
0.95 %
38.81
135
COUNTY OF WELD
STATE OF COLORADO
Property Tax Levies and Collections
Last Ten Years
Levy
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Collect
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Taxes Levied
for the
Fiscal Year (1)
59,739,651
64,714,321
70,643,162
75,088,043
76,724,097
96,972,420
78,999,116
91,108,983
109,452,573
119,624,895
Collected within the
Fiscal Year of the Levy
Tax Percentage
Amount (2) of Levy
59,395,927 99.425 %
64,580,198 99.793 %
70,575,408 99.904 %
74,877,199 99.719 %
75,903,359 98.930 %
96,736,465 99.757 %
78,833,201 99.790 %
90,504,925 99.337 %
109,154,195 99.727 %
119,187,009 99.634 %
Collections
in Subsequent
Years (3
210,799
58,767
327,098
167,705
159,944
235,955
167,862
37,471
Tax
Years (3
59,606,726
64,638,965
70,902,506
75,044,904
76,063,303
96,972,420
79,001,063
90,504,925
109,191,666
119,187,009
Total Collections to Date
Percentage
Years (3
99.777 %
99.884 %
100.367 %
99.943 %
99.139 %
100.000 %
100.002 %
99.337 %
99.762 %
99.634 %
Source:
1) Office of the Weld County Assessor
2) YTD Treasurer's Tax Distribution for tax years 2004-2010. Values from 2011 forward taken from the Treasurer's Authority
Receivable Report
3) YTD Treasurer's Tax Distribution for tax years 2004-2010. Values from 2011 forward taken from the Treasurer's Authority
Receivable Report.
136
COUNTY OF WELD
STATE OF COLORADO
Direct and Overlapping Debt Governmental Activities Debt
December 31, 2014
Jurisdiction
Cities & Towns
Schools
Special Districts
Total Overlapping
Net General
Obligation
Bonded Debt
Outstanding
52,542,822
847,093,061
125,094,837
$ 1,024,730,720
Source: Debt outstanding provided by each governmental unit.
Note:
Percentage
Applicable to
Government (1)
82.81%
51.68%
65.83%
Amount
Applicable to
Government (2)
43,512,122
437,760,8 16
82,355,015
$ 563,627,953
(1) Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the county. This
schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by residents and
businesses of Weld County. This process recognizes that, when considering the county's ability to issue and repay long-term
debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply
that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government_
(2) Overlapping debt applicable to the County is figured by prorating each local jurisdictions debt by the percentage of the
jurisdictions inside and outside the county.
137
COUNTY OF WELD
STATE OF COLORADO
Legal Debt Margin Infonination
Last Ten Years
Legal Debt Margin Calculation for Fiscal Year 2014
Assessed Value, 2014
Debt Limit 3 percent of Assesed Value
Total Bond Debt
Installment Purchase Agreements
Total Amount of debt applicable to limit
Legal Debt Margin
Legal Debt Margin Information
Last Ten Fiscal Years
$0
0
$ 9,130,081,870
273,902,456
0
$ 273,902,456
Debt limit
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to the limit
as a percentage of debt limit
Note:
2005 2006
2007
2008
108,459,755 126,118,475 134,053,874 136,974,703
$ 108,459,755 $ 126,118,475 $ 134,053,874 $ 136,974,703
0.00 % 0.00 %
0.00 % 0.00 %
Debt Limitation: Under Section 30-35-201, Colorado Revised Statutes, 1973, the County may incur indebtedness for general
County purposes in an amount not to exceed 3% of assess valuation of all taxable property.
138
2009 2010 2011
173,123,816 141,036,269 162,655,885
2012
195,404,498
2013 2014
213,565,036 273,902,456
$ 173,123,816 $ 141,036,269 $ 162,655,885 $ 195,404,498 $ 213,565,036 $ 273,902,456
0.00 %
0.00 %
0.00 %
0.00 %
0.00 % 0.00 %
COUNTY OF WELD
STATE OF COLORADO
Private Purpose Revenue Bonds
December 31, 2014
INDUSTRIAL REVENUE BONDS:
ISSUER
Centennial Area
Health Education Central
GSS LB Association
Nursing IIume
North Range Behavioral Health
TOTAL PRIVATE PURPOSE
REVENUE BONDS
TYPE. OF
FACILITY
Office
Nursing Home
Office
AMOUNT
S 388,000
S 2,020,000
S 4,500,000
ISSUE
DATE
5/99
10/98
5/07
DEBT REVENUE BOND
OUTSTANDING OUTSTANDING
BEGINNING OF YEAR ISSUED RETIRED END OF YEAR
$164,628
$915,000
S2,749,370
S3,828,998
0 $164,628
0 565,000
0 $141,750
$0 $371,378
$-
$850,000
S2,607,620
S3,457,620
140
COUNTY OF WELD
STATE OF COLORADO
Demographic and Economic Statistics
Last Ten Years
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Population
221,957
229,377
236,908
244,515
251,220
252,825
254,759
263,691
263,691
269,785
Total
Personal Income Per
($ billion) Capita Income
5.79
5.84
6.23
6.66
7.38
7.07
6.93
7.76
8.35
8.35
25,968
25,495
26,280
27,238
27,788
28,503
27,186
25,233
29,986
31,657
Unemployment
Rate
5.00 %
3.80 %
4.63 %
6.30 %
8.16 %
9.80 %
9.10 %
8.70 %
6.70 %
3.90 %
Source: Upstate Colorado in cooperation with University of Northern Colorado and the State of Colorado demographer.
COUNTY OF WELD
STATE OF COLORADO
Principal Employers
Current Year and Nine Years Ago
JBS Swift Beef Company
State of Colorado (includes UNC)
Banner Health (NCMC)
School District 6
Vestas
State Farm Insurance Companies
Weld Count Government
Halliburton Energy Services Inc
City of Greeley
Select Energy Services
Aims Community College
Star Tek Inc
Eastman Kodak Company
Total Principal Employers
Other Employers
Total County Employment
Source: Upstate Colorado
2014
Employees Rank
4,654
3,811
2,885
2,400
2,150
1,790
1,447
1,030
850
752
21,769
1 05,962
127,731
1
2
3
4
5
6
7
8
9
10
Percentage
of Total County
Employment
3,64 %
2.98 %
2.26 %
1,88 %
1.68 %
1.40 %
1.13 %
0.81 %
0.67 %
0.59 %
17.04%
g2.96 %
100_00%
2005
Percentage
of Total County
Employees Rank Employment
2,960 1
1,988 4
2,200 2
2,037 3
1,513 6
1,388 8
974 10
1,463 7
987 9
1,600 5
17,110
90,870
107,980
2.74 %
1.84 %
2.04 %
1.89 %
-%
1.40 %
1.29
0.90 %
-%
1.35 %
0.92 %
1.48 %
15.85 %
84.15 3<)
100.00 %
142
143
COUNTY OF WELD
STATE OF COLORADO
Full -Time Equivalent County Government Employees by Function/Program
Last Ten Years
2005 2006 2007 2008 2009 2010
Function/Program
General government (6)
Public safety (1) (5)
Public works
Health and welfare (2)
Culture and recreation
Economic assistance (3)
Total General Government
Business -type activities:
Paramedic Service (4)
Total primary government
247 256 258 269 247 244
275 279 308 352 365 345
139 167 167 165 163 161
286 305 337 357 372 378
1 1 1 1 1 2
181 166 173 148 144 78
1,129 1,174 1,244 1,292 1,292 1,20g
62 63 67 74 72 69
1,191 1,237 1,311 1,366 1,364 1,277
Source: Weld County Human Resources
Notes:
(1) A traffic unit was added in 2001 funded by the CDOT Office of Highway Safety Grant and initially
requiring 5 positions The North Jail Complex was built in 1997 with 160 beds and a staffing level of 75.
Phase II added 226 beds in 2004 and increased projected 2005 staffing to 132. Phase III construction in
2006-07 added 374 beds and increased staffing of 42 in 2007. Twelve additional management and
support positions were added in 2008. The deferred opening of 122 secure confinement beds contained
prevented further hiring.
(2) The demand for welfare and public health care has increased more rapidly with the economic
downturn.
(3) As of 12/31/2009 Headstart responsibilities were relinquished back to the Federal Agency for
operational purposes.
(4) As of 05/07/2012 Paramedic Services was transferred by Weld County to Northern Colorado Medical
Center Inc.
(5) In 2013 the Communications Department brought on employees to operate the Call Center for Weld County
(6) In 2014 the Weld County Commissioners decided to no longer outsource the Information Technology Department.
Therefore, employees were added for this department
144
2011 2012 2013 2014
251 239 243 290
351 357 432 436
161 164 179 176
368 380 374 383
2 2 2 2
73 79 89 86
1,206 1,221 1,319 1,373
69
1,275 1,221
1,319 1,373
145
COUNTY OF WELD
STATE OF COLORADO
Operating Indicators by Function/Program
Last Ten Years
2005 2006 2007 2008 2009
Function/Program
General government:
Motor vehicle registration
Registered voters (1)
Number of votes cast (2)
Percent of registered voters voting
Public safety:
Adult arrests
Juvenile arrests
Average secure jail population
E911 Calls
Building Permits
Valuation (thousands)
Public works:
Miles of road graveled
Snow removal lane miles
Grading lane miles
Miles of Upgrade -Aggregate Surfaced Roads
Culverts (new and repaired) 15" and larger
Tons of asphalt laid
Tons of gravel crushed
Health and welfare:
Social Services Caseload
Patient contacts
Immunizations
Culture and recreation:
Visitors -Missile Park
County Fair Exhibitors
Economic assistance: (3)
I-leadstart clients
Migrant Headstart clients
I3usiness-type activities:
Paramedic Services
Patients transported (4)
462,877 466,777 484,412 493,544 478202
99,711 100,924 88,601 116,269 112,276
46,327 68,871 30,203 106,518 34,027
46.5 % 68.2 % 34.1 % 91.6 % 30.3 %
1,543 1,574 1,606 1,122 1,059
206 215 224 110 98
455 579 628 610 538
79,425 92,045 95,524 99,951 95,383
2,082 1,972 2,000 2,571 1,976
$104,225 $399,473 $100,609 .$120,118 S86,794
401 160 359 312 205
78,435 125,225 222,703 94,685 176,786
165,681 164,906 135,779 148,324 152,568
- 10 34 52 33
217 242 250 252 233
95,634 70,421 67,389 67,548 90,664
487,477 408,409 411,582 231,359 282,315
14,000 14,500 15,000 15,500 16,000
11,000 30,440 11,880 11,500 15,000
6,900 6,360 7,165 7,000 7,000
575 586 595 600 600
2,220 2,422 2,326 2,335 2,425
562 562 562 562 562
266 266 266 275 180
7,284 8,375 8,210 8,866 9,214
Source: Various Weld County Department Records
Notes:
(1) Beginning in 1999 the number of registered voters reflects active voters.
(2) Even years represent general elections, odd years coordinated elections.
(3) As of U/31/2009 Headstart responsibilites were relinquished back to the Federal Agency for opearational purposes.
(4) As of 05/07/2012 Paramedic Services was transferred by Weld County to Northern Colorado Medical Center Inc.
2010 2011 2012 2013 2014
482,841 541,678 537,483 573.537 602,536
145,692 101,085 162,517 134,936 167,306
80,893 42,937 117,121 66,368 92,525
55.5 % 42.5 % 72.1 % 49.2 % 55.3 %
1,084 1,795 1,535 970 726
96 73 105 44 37
570 557 573 575 577
95,866 93,900 100,230 101,000 105,726
2,143 2,316 2,327 2,451 2,674
$392,380 $126,194 $322,183 $365,074 $782,793
416 419 482 402 145
77,889 89,503 57,474 65,342 75,302
154,602 133,297 157,634 144,036 194,527
36 41 16 91 87
264 254 222 224 170
101,431 86,805 125,668 106,155 147,496
372,709 436,880 270,441 238,395 247,935
20,500 23,017 25,500 30,000 31,400
11,769 8,778 12,727 15,084 24,619
8,159 7,333 4,873 6,633 5,674
500 650 600 625 550
2,383 2,436 2,489 2,468 1,837
9,214 9,470
147
COUNTY OF WELD
STATE OF COLORADO
Capital Asset Statistics by Function/Program
Last Ten Years
2005 2006 2007 2008 2009
Function/Program
General government:
Building Square Footage 684,551 719,723 725,723 854,081 860,399
Court rooms 12 16 16 17 22
Information Systems Connections 1,292 1,292 1,292 1,320 1,320
Public safety:
Jail capacity (beds)
Patrol cars
Radios and cell phones
Public works:
Miles of Roads
Paved
Unpaved
Un-maintained
Grader sheds
Motor graders
386 386 386 760 760
46 55 55 55 62
1,140 1,229 1,270 1,359 1,179
681 675 670 684 674
2,394 2,387 2,370 2,352 2,331
512 327 492 490 493
18 18 18 18 18
30 30 30 30 30
Health and welfare:
Alternative fuel vehicles 4 4 4
Economic assistance:
Headstart sites
Business -type activities:
Paramedic Services
Ambulances (1)
11 11
4 5
11 11
10 10 11 11 11
Source: Weld County Department records and Fixed Asset Inventory
(1) As of 05/07/2012 Paramedic Services was transferred by Weld County to Northern Colorado Medical Center Inc.
2010 2011 2012 2013 2014
984,052 984,052 984,052 1,003,846 1,003,846
22 21 21 22 22
1,320 1,320 1,320 2,537 2,798
760 779 779 779 779
60 60 62 61 64
1,220 1,064 1,035 1,055 1,165
689 696 717 726 738
2,307 2,289 2,262 2,241 2,224
351 354 355 357 356
18 18 18 18 18
30 30 32 34 35
5 5 7 6 6
12 12
COUNTY OF WELD
STATE OF COLORADO
Insurance in Force
December 31, 2014
Name of Company
Policy Policy Period!
Number Begins apes Details of Coverage
Safety National
Casulty Company SP 4049871
Lexington & Hiscox 20412751
One Beacon
Illinois Union
Liability Limits
12/31/13 12/31/14 Excess Worker's Employer's Liability
Compensation S1,000,000/Accident.
Worker's Compensation
Statutory limits with
County retaining first
$750,000 each claim.
01/01/14 01/01/15
Property damage,
automobile liabilities
Property: $100,000,000/$500 deductible
Crime: $1,000,000/$500 deductible
Excess liability: $100;000,000 per claim/
$150,000 CAPP deductible
Crime: $1,000,000/5500 deductibe crime coverage
(employee dishonesty, robbery, forgery, money)
7910003550003 1/1/2014 1/1/2015 Excess Liability Excess $250,000
510,000,000 liability coverage per occurrence
SO Deductibe for liability claims
G25660328001 1/1/2014 1/1/2015 Network Security and Privacy Liabilty: $1,000,000 per claim
Liability Network Security Liability: $1,000,000 per claim
Annual
Premium
S 124,168
S 328,588
S 123,000
150
Single
Audit
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2014
Program Description
Department Of Housing and Urban Development
Neighborhood Stabilization Project
Passed Through the State Of Colorado Department Of Local Affairs:
Community Services Block Grant
Total Department of Housing and Urban Development
Department Of Agriculture
Passed Through the State Of Colorado Department Of Human Services:
State Admin Matching Grant for Supplemental Nutrition Assistance Programs
Department Of Justice
Congressionally Selected
Congressionally Selected
Passed Through the State of Colorado Division Of Criminal Justice:
Violence Against Women Formula Grants
Total Department Of Justice
Department Of Labor Employment Training Administration
Passed Through the State Of Colorado Department Of Labor and Employment:
Employment Service Cluster
Employment Services/Wagner-Peyser Funded Activities
Disabled Veterans Out Reach Program (DVOP)
Total Employemnt Service Cluster
TAA Case Management
WIA Cluster
WIA Adult Program
WIA Youth Activities
WIA ADMIN Disaster NEG
Total WIA Cluster
WIA ADMIN Adult H1B
WIA Dislocated Worker Formula Grant
Total Department Of Labor Training Administration
Department Of Transportation
Passed Through the State Of Colorado Department Of Transportation:
Road Contracts
Congestion Mitigation and Air Quality
Flood Relief
Total Department Of Transportation
Environmental Protection Agency
Passed Through the State Of Colorado Department Of Health:
Radon Out Reach
Total Environmental Protection Agency
Department Of Health And Human Services
Passed Through the State Of Colorado Department Of Local Affairs:
Community Services Block Grant
Passed Through the State Of Colorado Department Of Health:
Public Health Emergency Preparedness
Tuberculosis Control Programs
Family Planning Services
Immunizations Cluster
Immunizations Cooperative Agreements
Maternity Care Practices Project
Chronic Disease Prevention and Control
Promoting Safe and Stable Families
FEDERAL Federal
CFDA # Expenditure
14.218 119,593
14.228 680,266
799,859
10.561 2,449,351
16.753 94,136
16.753 149,615
16.588 55,964
299,715
17.207 463,161
17.801 16,207
479,368
17.245 23,903
17.258 834,682
17.259 743,306
17.277 537,043
2,115,031
17.268 80,590
17.278 391,129
3,090,021
20.205 1,608,079
20.205 498,972
20.205 1,288,953
3,396,004
66.605 5,918
5,918
93.569 241,703
93.069 109,145
93.116 3,457
93.217 79,458
93.268 74,745
93.741 137,593
93.945 17,500
93.556 1,300
151
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2014
Program Description
Preventative Health Services
Preventative Health and Health Services Block Grant
Maternal and Child Health Services Block Grant
Non -Community Ground Water
Womens Wellness
Air Quality
FDA Tabacco
Total Passed Through the State Of Colorado Department Of Health:
Passed Through the State Of Colorado Department Of Human Services :
OAA -Elder abuse
OAA-Ombudsman Supp
OAA-D in Home Support
Aging Cluster
OAA-B Admin/Supportive Services
OAA-C-1-Congrate Meals
Nutrition Services Incentive Programs
Total Aging Cluster
OAA-E National Caregiver
Substance Abuse and Mental Health Programs
TANF Cluster
Temporary Assistance for Needy Families
Child Support Enforcement
Low -Income Home Energy Assistance
CCDF Cluster
Child Care and Development Block Grant
Child Care and Development Fund
Total CCDF Cluster
Child Welfare Services Program
Foster Care Title IV -E
Adoption Assistance
Sodal Services Block Grant
Chafee Foster Care Independence Program
Medicaid Assistance Programs
Countywide Cost Allocation
Automated Data Processing Pass Thru
Total Passed Through the State Of Colorado Department Of Human Services:
Passed Through the State Of Colorado Dept of Health Care Policy and Finance:
Medicaid Assistance Programs
FEDERAL Federal
CFDA # Expenditure
93.977 4,410
93.991 15,000
93.994 356,003
93.XXX 1,950
93.XXX 21,443
93.XXX 26.143
93.XXX 72,570
93.041
93.042
93.043
93.044
93.045
93.053
93.052
93.243
93.558
93.563
93.568
93.575
93.596
93.645
93.658
93.659
93.667
93.674
93.778
93.XXX
93.XXX
920.717
1,639
4,054
15,700
232,496
397,223
66,276
695,995
80,753
280.053
5,661.400
1,964.234
1,411;483
492.826
3,030,302
3,523,128
177,070
2,964.210
661.875
1,440,421
69,814
2,181,380
(1,269)
119,839
7,613,340
93.778 929.091
Total Department of Health and Human Services 23,343;290
Corporation For National And Community Services
Passed Through the Governor's Commission on Community Service
AmeriCorps
Department Of Homeland Security
Passed Through the State Of Colorado Department Of Local Affairs:
Emergency Management Performance
Passed Through the State Of Colorado Department Of Public Safety
Disaster Grant & Public Assistance (Presidentially Declared Disaster)
94.006 72,797
97.042 76.000
97.036 2,636;654
Total Department of Homeland Security 2,712,654
36,169,609
152
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2014
Note 1 — Basis of Presentation:
The accompanying schedule of expenditures of Federal awards, which includes the Federal grant activity of Weld
County, is presented on the accrual basis of accounting. The information in this schedule is presented in accordance
with the requirement of the U.S. Office of Management and Budget Circular A-133, Audits of States and Local
Governments, and Non -Profit Organizations. Therefore, some amounts presented in this schedule may differ from
amounts presented in, or used in, the preparation of the Weld County, Colorado's financial statements for the year ended
December 31, 2014.
Note 2 — Sub -Recipient
Weld County, Colorado does not have any significant sub -recipients.
154
NMMcGee, Hearne & Paiz, LLP
Certified Public Accountants and Consultants Certified Public Accountants and Consultants
314 West 18th Street, Cheyenne, Wyoming 82001-4404
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND
OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
Board of County Commissioners
Weld County, Colorado
Greeley, Colorado
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of the governmental
activities, the bud nem-type activities, each major fund, and the aggregate discretely presented component
unit and remaining fund information of Weld County, Colorado (the "County") as of and for the year
ended December 31, 2014, and the related notes to the financial statements, which collectively comprise
the County's basic financial statements, and have issued our report thereon dated June 29, 2015. Our
report includes a reference to other auditors who audited the financial statements of the Weld County
Housing Authority, as described in our report on the County's financial statements. This report does not
include the results of the other auditors' testing of internal control over financial reporting or compliance
and other matters that are reported on separately by thcsP auditors
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the County's internal
control over financial reporting (internal control) to determine the audit procedures that are appropriate i n
the circumstances for the purpose of expressing our opinions on the financial statements, but not for the
purpose of expressing an opinion on the effectiveness of the County's internal control. Accordingly, we
do not express an opinion on the effectiveness of the County's internal control .
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a material
misstatement of the entity's f i nanci ai statements will not be prevented, or detected and corrected, on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness, yet important enough to merit attention by those charged with
governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in the internal control that might be material
weaknesses or significant deficiencies and, therefore, material weaknesses or significant deficiencies may
exist that were not identified. Given these limitations, during our audit we did not identify my
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified.
155
Compliance and Other Matters
As part of obtai ni ng reasonable assurance about whether the County's f i nanci ai statements are free from
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit and, accordingly, we do not exprem such an opinion. The
results of our tests disclosed no instances of noncompl i ate or other matters that are requi red to be
reported under Government Auditing Standards.
Purpose of this Report
The purpose of this report is sold y to describe the scope of our testi ng of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the County's internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the County's internal control and compliance.
Accordingly, this communi cation is not suitable for any other purpose.
.tevavAL, Ajax -2)
Cheyenne, Wyoming
June 29, 2015
156
NMMcGee, Hearne & Paiz, LLP
Certified Public Accountants and Consultants Certified Public Accountants and Consultants
314 West 18th Street, Cheyenne, Wyoming 82001-4404
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE FOR
EACH MAJOR PROGRAM AND ON INTERNAL CONTROL
OVER COMPLIANCE IN ACCORDANCE
WITH OMB CIRCULAR A-133
Board of County Commissioners
Weld County, Colorado
Greeley, Colorado
Report on Compliance for Each Major Federal Program
We have audited Weld County, Colorado's (the "County") compliance with the types of compliance
requirements described in the OMB Circular A-133 Compliance Supplement that could have a direct and
material effect on each of the County' s major Federal programs for the year aided December 31, 2014. The
County's major Federal programs are identified in the summary of auditor's results section of the
accompanying schedule of findings and questioned costs.
The County's basic financial statements include the operations of Weld County Housing Authority, a
component unit, who received $2,614,740 in Federal awards which is not included in the County's schedule
during the year ended December 31, 2014. Our audit, as described below, did not include the operations of
the Weld County Housing Authority because those f i nanci al statements were audited by other audi tors.
Alanagement's Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts and grants
applicable to its Federal programs.
Auditor's Responsibility
Our respons bi l i ty is to express an opinion on compliance for each of the County's major Federal programs
based on our audit of the types of compliance requirements referred to above. We conducted our audit of
compliance in accordance with auditing standards generally accepted in the United States of America; the
standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments
and Non -Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform
the audit to obtain reasonable assurance about whether noncompliance with the types of compliance
requirements referred to above that could have a direct and material effect on a major Federal program
occurred. An audit includes examining, on a test basis, evidence about the County's compliance with those
requirements and performing such other procedures as we considered necessary i n the d rcumstances.
We believe that our audit provides a rcaonable basis for our opinion on compliance for each major Federal
program. However, our audit does not provide a legal determi nation of the County's compl i ance.
Opinion on Each Major Federal Program
In our opinion, the County complied, in all material respects, with the types of compliance requirements
referred to above that could have a direct and material effect on each of its major Federal programs for the
year ended December 31, 2014.
157
Other ,Matters
The results of our auditing procedures disclosed instances of noncompliance, which are required to be
reported in accordance with OMB Circular A-133 and which are described in the accompanying schedule
of findings and questioned costs as items 2013-004, 2014-001, 2014-002, and 2014-004. Our opinion on
each major Federal program is not modified with respect to these matters.
The County's response to the noncompliance findings identified in our audit is described in the
accompanying schedule of findings and questioned costs. The County's response was not subjected to
the auditing procedures applied i n the audit of compliance and, accordingly, we express no opinion on the
response.
Report on Internal Control over Compliance
M anagement of the County is responsible for establishing and ma ntai ni ng effective i nternal control over
compliance with the types of compliance requirements referred to above. In planning and performing our
audit of compliance, we considered the County's internal control over compliance with the types of
requirements that could have a direct and material effect on each major Federal program to determine the
auditing procedures that are appropri ate i n the ci rcumstances for the purpose of expressing an opinion on
compliance for each major Federal program and to test and report on internal control over compliance in
accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the
effectiveness of the County' s internal control over compl i ance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not al l ow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a
Federal program on a timely basis. A material weaklier, in internal control over compliance is a
deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a
reasonable possibility that material noncompliance with a type of compliance requirement of a Federal
program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in
internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over
compliance with a type of compliance requirement of a Federal program that is less severe than a material
weakness in internal control over compliance, yet important enough to merit attention by those charged
with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that might be material weaknesses or significant deficiencies and, therefore, material
weaknc.mcs or significant deficiencies may exist that were not identified. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
we identified a certain deficiency in internal control over compliance as decrri bed in the accompanying
schedule of findings and questioned costs as items 2014-001, 2014-003 and 2014-004, that we consider to
be a significant deficiency.
The County's response to the internal control over compliance finding identified i n our audit is described
in the accompanying schedule of findings and questioned costs. The County's response was not
subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we
exprc s no opinion on it.
The purpose of this report on internal control over compliance is solely to describe the scope of our
testing of internal control over compliance and the results of that testing based on the requirements of
OMB Circular A-133. Accordingly, this report is not suitable for any other purpose.
Cheyenne, Wyoming
June 29, 2015
158
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
Year Ended December 31, 2014
1. SUMMARY OF INDEPENDENT AUDITOR'S RESULTS
A. Financial Statements
Type of auditor's report issued: Unmodified
I nternal control over financial reporti nq:
B.
n Material weaknesses identified?
n Significant deficiencies identified that are
not considered to be material weaknesses?
Yes
Yes
Noncompliance mated al to financial
statements noted? Yes
Federal Awards
I nternal control over major programs:
X No
X None reported
X No
n Material weaknesses identified? Yes X No
n Significant deficiencies identified that are
not considered to be material weakncs ? X Yes None reported
Type of auditor's report is ied on compliance for major programs: Unmodified
n Any audit findings disclosed that are
requi red to be reported in accordance
with Section 510(a) of OMB Circular A-133? X Yes No
Identification of major programs:
n
n
CFDA Numbers
10.561
14.218
93.558
93.568
93.778
N ame of Federal Program or CI uster
State Administrative Matching Grants for the Supplemental
Nutrition Assistance Program
Community Development Block GrantslEntitlement Grants
Temporary Assistance for Needy Families (TANF)
F)
Low -I ncome Home Energy Assi stance
Medical Assistance Program (Medicaid; TitleXIX)
Dollar threshold used to distinguish between
Type A and Type B programs: $1,085,086
Audi tee qualified as low -risk auditee?
X Yes No
159
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2014
11. FINANCIAL STATEMENT FINDINGS
None
III. FINDINGS AND QUESTIONED COSTS FOR FEDERAL AWARDS
2013-004: State Administrative Matching Grants for the Supplemental Nutrition Assistance
Program - Special Tests
Catalog of Federal Assistance (CFDA) Number and Title: #10.561 - State Admi ni strative
Matching Grants for the Supplemental Nutrition Assistance Program
Federal Agency Name: U.S. Department of Agriculture
Pass -Through Entity Name (if applicable): State of Colorado
Condition - Of the 25 n c fi les selected for testing, we noted one fi le did not contain the required
verification of the applicant's income.
Criteria - The County is required to process and store all case file information necessary for
eligibility determination and benefit calculation, identifying specific elements that affect
eligibility, and notifying the certification unit of cases requiring notices of case disposition,
adverse action aid mass change, and expiration.
Cause - The County did not properly scan the verification of income into scanned documents or
maintain the paper copy to be able to verify that no changes were required to be made to
pa-ticipant's eligibility from time of initial application until date of selected payment or to verify
the parti ci pant was eligible.
Effect - If controls are not in place to ensure adequate documentation is maintained and proper
records are kept on file at the County to support eligibility and benefit calculation, the State may
be paying benefits for ineligible parti ci pants or at improper amounts.
Recommendation - We recommend that the County ensure records are included within scanned
documents under the proper client number at the time of original el i gi bi I i ty determination as well
as going forward to ensure client records are available for verification and other purposes.
Questioned Costs - $0
Auditee Response -
Contact: Lennie Bottorff, Fiscal Manager, John Kruse, Admi ni strator-Assi stance Programs
Corrective Action Plan: The Department agrees with this finding. We wi I I continue to provide
additional training to staff, both new and ongoing income maintenance technicians (I MT), on
the importance of i magi ng and documenting in Case comments why ad ons are being taken in
the Colorado Benefit Management System. In addition, we will continue to measure the
success of the training and processing via I MT case reviews.
Anticipated Completion Date: December 2015
160
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2014
2014-001: Temporary Assistance for Needy Families (lANF) — Special Tests and Provisions
Catalog of Federal Assistance (CFDA) Number and Title: #93.558, #93.714, #93.716 -
Temporary Assistance for Needy Families (TAN F) Cluster
Federal Agency Name: U.S. Department of Health and Human Services
Pass -Through Entity Name (if applicable): Colorado Department of Health and Human
Services
Condition - Of the 40 participants selected for testing, we were unable to perform the testing per
the compliance requirements for Income Eligibility and Verification System (I EV S) discrepancy
reports on al I selections.
Criteria - The County is required to initiate a notice of case action or an entry in the case record
that no case action is necry within 45 days of its receipt of an I EV S discrepancy report. Under
certain circumstances, action may be delayed beyond 45 days for no more than 20% of the
information items targeted for follow-up.
Cause - The County was unable to provide us with the I EVS discrepancy reports for all selections
Effect - If the County cannot provide the IEVS discrepancy reports, we cnnot verify if the
existing controls are effective or if they are even in place. If the control is ineffective or does not
exist, the County may pay or over compensate a partidpant who should not be receiving benefits.
Recommendation - We recommend that the County ensures I EV S discrepancy reports are
reviewed and have cleared within the required 45 days In addition, we recommend that any
current outstanding I EV S discrepancies outstandi ng i n excess of 45 days be cl eared immediately.
Questioned Costs - None
Auditee Response -
Contact: Lennie Bottorff, Fiscal Manager, John Kruse, Administrator -Assistance Programs
Corrective Action Plan: The Department agrees with this finding. This is largely due to the
high caseload volume and casdoad growth. The Department has modified its business process
design and hopes to process I EVS hits within the given timelines within the next three to four
months The Department is also looking at creating better reports to simplify reviewing I EV S
hits.
Anticipated Completion Date: December 2015
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2014
2014-002: Temporary Assistance for Needy Families (TANF) — Special Tests and Provisions
Catalog of Federal Assistance (CFDA) Number and Title: #93.558 - Temporary Assistance
for Needy Families (TANF)
Federal Agency Name: U.S. Department of Health and Human Services
Pass -Through Entity Name (if applicable): Colorado Department of Health and Human
Services
Condition - During the year ending December 31, 2014, we noted that Tier II ease reviews
performed by the County did not align with the sample provided by the State as required by the
Colorado Work Verification Ran.
Criteria - To comply with the Colorado Work Verification Ran, 5% of Colorado Works Basic
Cats Assistance, State and County Diversion cases statewide must be reviewed monthly. The State
of Colorado, through the Colorado Benefits Management System (CBMS) reporting system -
COGNOS, provided to the County a list of all files needing a Tier II review monthly.
Cause - The County was completing a race review of files provided through the COGNOS
system; however, this review did not comply with Tier II requirements outlined in the Colorado
Work Verification Ran.
Effect - By not reviewing the files requested by the State of Colorado at the Tier II Level, the
County is out of compliance of the Work Verification Ran. The penalty for failure to comply with
the Work Verification Ran may be not leas than one percent and not more than five percent of the
awaded amount (42 USG 601, 602, 607, and 609).
Recommendation - We recommend that the County access the CBMS COGNOS and complete
all Tier I I file reviews requested by the State of Colorado.
Questioned Costs - $0
Auditce Response -
Contact: Lennie Bottorff, Fiscal Manager, John Kruse, Administrator -Assistance Programs
Corrective Action Plan: The Depatment agrees with this finding. The Assistance Payments
Division and the Employment Services Division will work collaboratively to ensure that the
required reviews are completed for al cascs identified in the Cognos 5% Sampling Report,
reviewing the aspects under the control of each Division.
Anticipated Completion Date: December 2015
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2014
2014-003: Low -Income Home Energy Assistance Program (LEAP) — Allowable Costs / Cost
Principles and Eligibility
Catalog of Federal Assistance (CFDA) Number and Title: #93.568 - Low -Income Home
Energy Assistance
Federal Agency Name: U.S. Department of Health and Human Services
Pass -Through Entity Name (if applicable): State of Colorado Department of Human Services
Condition - The County contracted with Discovery Goodwill to manage the LEAP program, this
included eligibility determinations as well as entering the applicable information into CFMS for
payment. However, the County did not perform any independent checks on Discover Goodwill,
during the period under audit, to verify that Discovery Goodwill was properly determining
eligibility and program payments were correct.
Criteria - The A-102 Common Rule and OMB Circular A-110 (2 CFR part 215) require that non -
Federal entities receiving Federal awards (i .e., audi tee management) establish and mai ntai n
internal control designed to rocronably ensure compliance with Federal laws, regulations, and
program compliance requirements. While outsourcing the management of the program is not a
problem, since the County is still ultimately responsible for the Federal funds, they sti l l need to
perform checks to determine whether procedures are being followed as intended.
Cause - The County outsourced the management of the program; however, the County failed to
implement controls to appropriately oversee the activities of the service organization.
Effect - Without performing independent checks, the County is unable to verify that eligibility is
correctly determined and program payments are proper.
Recommendation - We recommend that the County develop controls to review the services
performed by the service organization are con stent with the program requirements.
Questioned Costs - None
Auditee Response -
Contact: Lennie Bottorff, Fiscal Manager, John Kruse, Administrator -Assistance Programs
Corrective Action Plan: The Department agrees with this finding. The Department has used
the State of Colorado case reviews for Weld County and other counties that Discover Goodwill
contracts with as evidence that eligibility is correctly determined and program payments are
proper. Starting next LEAP season, the Department will be doing random case reviews of
Discover Goodwill's eligibility determination and program payments.
Anticipated Completion Date: December 2015
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2014
2014-004: Community Development Block Grants / Entitlement Grants — Reporting
Catalog of Federal Assistance (CFDA) Number and Title: #14.218 - Community
Development Block Grants/ Entitlement Grants.
Federal Agency Name: U.S. Department of Housing and Urbai Development
Pass -Through Entity Name (if applicable): N/A
Condition - While gaining an understanding of the processes i n place surrounding the review and
preparation of the required quarterly reports, we noted that the reports are prepared by the
Housing Authority Executive Director and they are not reviewed prior to being submitted to
HUD. Additionally, through testing of the required reports, we noted that the balances per the
report did not agree to Banner General Ledger Mates.
Criteria - Per 75 FR 64337, Section O, Reporting, the County must submit quarterly performance
reports. All information reported on the report should be complete and accurate.
Cause - The department size and the volume of work hinder the availability of a staff member to
perform an independent review of HUD reports prior to submission.
Effect - The submission of incorrect information to HUD could impact the amount of funding
received in the future.
Recommendation - We recommend that the County create a review process to ensure that reports
are reviewed and compared to the general ledger prior to submission to HUD.
Questioned Costs - $0
Auditee Response -
Contact: Barbara Connolly, Controller
Corrective Action Plan: We agree with thisfinding. f i ndi ng. Weld County Accounting Department has
set up a process in which we will confirm request for payments agree with the General Ledger.
Anticipated Completion Date: Immediately.
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR FEDERAL AUDIT FINDINGS
For the Year Ended December 31, 2014
Findings
2013-002: Temporary Assistance for Needy Families
(TANF) - Special Tests and Provisions
Catalog of Federal Assistance (CFDA) Number and Title:
#93.558 Temporary Assistancefor Needy Fami lies (TANF)
Federal Agency Name: U.S. Department of Health and
Human Services
Pass -Through Entity Name (if applicable): Colorado
Department of Human Services
During the year ended December 31, 2013, no case files
were reviewed as required by the Colorado Work
Verification Plan.
Status
Due to continued staffing shortages and increased
volume, we haven't yet fully implemented all of the
safeguards that would prevent reoccurrence of these
situations. However, we have made significant
progrc ; toward resolving this issue, and will continue
our attempts to achieve full staffing and optimal
i mpl ementati on.
See Finding 2014-002.
2013-003: Temporary Assistance for Needy Families
(TANF) — Special Tests and Provisions
Catalog of Federal Assistance (CFDA) Number and Title:
#93.558 Temporary Assistance for Needy Fami lies (TANF)
Federal Agency Name: U.S. Department of Health and
Human Services
Pass -Through Entity Name (if applicable): Colorado
Department of Human Services
Of the 40 participants selected for testing, we noted 11
instances of participant files that contained Income
Eligibility and Verification System (IEVS) discrepancy
reports that were not dared by the County within the
requi red ti mef rame of 45 days.
Due to continual staffing shortages and increased
volume, we haven't yet fully implemented Al of the
safeguards that would prevent reoccurrence of these
situations. However, we have made significant
progress towad resolving this issue, and wi I I continue
our attempts to achieve full staffing and optimal
i mpl ementati on.
See Finding 2014-001.
2013-004: State Administrative Matching Grants for
the Supplemental Nutrition Assistance Program -
Eligibility
Catalog of Federal Assistance (CFDA) Number and Title:
#10.561 State Admi ni strati ve Matching Grants for the
Supplemental Nutrition A ssi stance Program
Federal Agency Name: U.S. Department of Agriculture
Pass -Through Entity Name (if applicable): Colorado
Department of Human Services
Of the 25 case files selected for testing, we noted one file
did not contain the required verification of the applicant's
income.
Due to continued staffing shortages and i ncrcascd
volume, we haven't yet fully implemented Al of the
safeguards that would prevent reoccurrence of these
situations. However, we have made significant
progress towad resolving this i sq re, and will continue
our attempts to achieve full staffing and optimal
i mpl ementati on.
See Finding 2013-004.
165
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