HomeMy WebLinkAbout20162354.tiffCAFR _
2013
COMPREHENSIVE ANNUAL FINANCIAL REPORT * YEAR ENDED DECEMBER 31
'1 PAGE OF DOCUMENT
INCLUDED IN PAPER FILE.
REMAINDER RETAINED
ELECTRONICALLY IN TYLER.
WELD COUNTY
STATE OF COLORADO
PREPARED BY THE DEPARTMENTS OF ACCOUNTING AND FINANCE
LEADING WITH RESPONSIVE, INNOVATIVE & COST EFFECTIVI
2016-2354
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TABLE OF CONTENTS
INTRODUCTORY SECTION
Table of Contents
Letter of Transmittal 1
Government Finance Officers Association Certificate
of Achievement for Excellence in Financial Reporting 13
Organization Chart 14
Principal County Officials 15
FINANCIAL SECTION
Independent Auditors' Report 17
Management's Discussion and Analysis 19
Basic Financial Statements
Government -We ide Financial Statements:
Statement of Net Position
99
Statement of Activities 30
Governmental Fund Financial Statements:
Balance Sheet 32
Reconciliation of Total Governmental Fund Balances to the
Statement of Net Position 34
Statement of Revenues, Expenditures and Changes in Fund Balance 36
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities 38
Proprietary Fund Financial Statements:
Statement of Net Position - Proprietary Funds 39
Statement of Revenues, Expenses and Changes in Net Postion -
Proprietary Funds 40
Statement of Cash Flows - Proprietary Funds 41
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position 42
Statement of Changes in Fiduciary Net Position 43
Notes to the Financial Statements 44
Required Supplementary Information Other Than MD&A:
Required Supplementary Information
Pension Trust 83
Other Post Employment Benefits 84
Modified Approach for Infrastructure Assets 85
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Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Major Funds:
General Fund 87
Public Works Fund 92
Social Services Fund 94
Human Services Fund 96
Contingent Fund 98
Supplemental Information:
Combining Statement of Non -major Governmental Funds:
Explanation of Funds 99
Combining Balance Sheet 104
Combining Statement of Revenues, Expenditures and Changes in Fund Balance 106
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Capital Expenditures Fund 108
Non -major Governmental Funds:
Special Revenue Funds:
Conservation Trust Fund 109
Public Health Fund 1 10
Solid Waste Fund 111
Bebee Draw Fund 112
Pioneer Community Law Enforcement Fund 113
South West Law Enforcement Fund 114
Component Units:
Housing Authority 115
E-911 Authority Fund 116
Local Highway Finance Report 1 18
Combining Statements of Internal Service Funds:
Combining Statement of Net Position - Internal Service Funds 120
Combining Statement of Revenues, Expenses and Changes in
Net Position - Internal Service Funds 122
Combining Statement of Cash Flows - Internal Service Funds 124
Combining Statement of Fiduciary Funds:
Combining Statement of Changes in Assets and Liabilities - Fiduciary Funds 126
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Schedule of Revenues, Expenses and Changes in Net Position -Actual and Budget
Enterprise Fund and Internal Service Funds:
Enterprise Fund:
Northern Colorado Regional Crime Lab 127
Internal Service Funds:
Motor Vehicle Fund 128
Health Insurance Fund 129
Insurance Fund 130
Phone Service Fund 131
STATISTICAL SECTION
Net Position by Component 134
Changes in Net Position 136
Fund Balances of Governmental Funds 138
Changes in Fund Balances, Governmental Funds 140
Assessed and Estimated Actual Value of Property 142
Property Tax Levies - Direct and Overlapping Governments 144
Principal Taxpayers 145
Property Tax Levies and Collections 146
Direct and Overlapping Governmental Activities Debt 147
Legal Debt Margin Information 148
Private Purpose Revenue Bonds 150
Demographic and Economic Statistics 151
Principal Employers 152
Full-time Equivalent Employees by Function/Program 154
Operating Indicators by Function/Program 156
Capital Asset by Function/Program 158
Insurance in Force 160
SINGLE AUDIT
Schedule of Expenditures of Federal Awards 161
Notes to Schedule of Expenditures of Federal Awards 164
Report on Compliance and on Internal Control Over Financial Reporting
Based on an Audit of Financial Statements Performed in Accordance with
Governmental Auditing Standards 165
Report on Compliance with Requirements That Could Have a Direct and Material Effect
on Each Major Program and Internal Control over Compliance
in Accordance with OMB Circular A-133 167
Schedule of Findings and Questioned Costs 169
Summary Schedule of Prior Federal Audit Findings 174
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DEPARTMENT OF FINANCE
AND ADMINISTRATION
PHONE (970) 356-4000, EXT.4218
FAX: (970) 352-0242
P.O. BOX 758
GREELEY, COLORADO 80632
June 25, 2014
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, 2013, 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, 2013 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, 2013, 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.
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PROFILE OF WELD COUNTY
Location and demographics. Weld County is located along Colorado's Front
Range in the northern part of the state. Weld County covers an area of 3,999
square miles in north central Colorado. It is bordered on the north by Wyoming
and Nebraska and on the south by the Denver metropolitan area. The third
largest county in Colorado, Weld County has an area greater than that of
Rhode Island, Delaware and the District of Columbia combined.
The climate is dry and generally mild with warm summers, mild winters and a
growing season of approximately 138 days. The land surface is fairly level in
the east, with rolling prairies and low hills near the western border. Elevations
in the county range from 4,400 to 5,000 feet.
The South Platte River and its tributaries, the Cache la Poudre, Big Thompson,
Little Thompson, Boulder, St. Vrain, and other smaller streams, flow into Weld
County from the south and west, leaving the county on the east.
There are 31 incorporated towns in Weld County. The county seat and
principal city, Greeley, is located in the west central part of the county and
contains almost half the county's population. Generally, most of the remaining
population resides within a 20 to 30 mile radius of Greeley; the northeastern
part of the county is sparsely populated. Southwest Weld County is one of the
fastest growing areas in the state due to its proximity to the north Denver metro
area. The county's population in 2013 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.
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County Operating Structure. Weld County became Colorado's first Home Rule County in
1976. The County is governed by a five -member Board of County Commissioners. Three
Commissioners are elected by districts of relatively equal population and two Commissioners
are elected at large. They serve staggered four-year terms and function as the County's
policymaking body. Each Commissioner coordinates one of five functions of the County. The
County is also served by four other elected officials: assessor, clerk and recorder, district
attorney, and sheriff. Weld County also has a five -member, non-partisan, elected body that is
charged to review all aspects of County government and to make periodic written reports to the
public. The Commissioners appoint department heads to be responsible for the various day-to-
day operations.
Budgeting. The County Commissioners annually adopt budgets by department for all
governmental and proprietary funds. Budgets are controlled by the major object categories of
Personnel, Operating Costs, and Capital Outlay. Control is maintained by the three categories
at the division/department level in the General Fund and at the fund level in all other funds.
Supplemental appropriations are approved by the Board of County Commissioners as needed
during the year to provide for those items that were unknown or unforeseen at the time the
budget was originally adopted.
MAJOR INITIATIVES
For the Year. In 2013, 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 2013:
• Assessed value increased 9% or $.605 Billion primarily from oil and gas production.
• Implemented the Strategic Investment Plan for the Future of Weld County.
• Funding of innovation and technology projects identified.
• Funded the oil and gas revenue fluctuation reserve in the Contingency Fund.
• Opened a new Regional Crime Lab.
• Added a SO Deputy Sheriff position for fugitive transports, and one for fugitive
warrants.
• Added two additional Planner II positions to accommodate new development.
• Funded a Haul Route Program (HARP) to improve county roads impacted by the
energy industry due to new oil and gas drilling exploration for a third year.
• Began Phase I of three phases of WCR 49 improvements.
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• Funded current and past administrative costs of the Weld County Retirement Plan.
• Implemented a radio replacement program in capital improvement plan.
• The Weld County Regional Communications Center (WCRCC) moved to a new
organizational structure with Weld County operating the WCRCC and dispatching all
public safety agencies in the county from a new dispatch center with state of the art
equipment.
• Weld County terminated the outsourcing contract for information technology and will
provide information technology services with county staff effective January 1, 2014.
FACTORS AFFECTING FINANCIAL CONDITION
Economic Conditions and Outlook.
The United States economy continues to grow at a modest pace. Although weighed -down by
changes in federal fiscal policy and continuing uncertainty, the nation's private sector continues
to heal from the financial crisis and appears ready to gain momentum. Private sector gross
domestic product and employment is expanding, while consumers continue to simultaneously
spend and reduce debt. The expansion in the nation's manufacturing sector has regained its
footing, the nation's banks have rebuilt their balance sheets, and corporate profits continue to
grow. Although still several years away from a full recovery, the nation's housing market has
begun to emerge as an economic bright spot with fewer distressed markets, increasingly
stronger sales of existing homes, and moderate levels of new construction. In addition, the
nation's equity markets have experienced strong growth in 2013.
Growth will remain subdued through early 2014, as slow growth in the global economy and
public -sector fiscal contraction in the United States weigh down the recovery's momentum.
The European recession, concerns about unsustainable real estate speculation in China, and
the uncertainty generated by geopolitical conditions in South Korea, Iran, and Syria are
weighing on business confidence. However, federal fiscal contraction in the United States is the
chief impediment to faster growth in the short term. The American Taxpayer Relief Act of 2012
resolved some, but not all, of the uncertainty related to federal fiscal policy. The combination of
continued uncertainty, higher taxes, and lower spending is estimated to reduce growth in gross
domestic product. The economic drag of federal fiscal policy should mitigate significantly by
2014. Congress is authorizing spending authority for the next federal fiscal year, retaining the
magnitude of the sequestration spending cuts, but allowing for slightly more flexibility in their
implementation. Economic growth is expected to accelerate to healthier rates in 2014 and
2015, as the recovery in the private sector matures and the drag from the uncertainty in the
public sector moderates. Recovery in the private sector is still dependent on continued loose
monetary policy, and dependents on the Federal Reserve continuing its expansionary monetary
policy, keeping interest rates low through 2014.
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Colorado's economy continues to improve at a faster pace than the nation as a whole.
Employment growth is helping to lower the unemployment rate and support growth in retail
sales. Price appreciation in the Colorado housing market is among the strongest in the nation,
which has caused the housing market to go from being a drag on the Colorado economy to
helping boost it. Federal housing policies aimed at a national housing market still struggling from
the recent recession are helping Colorado homeowners build equity in their homes. The
agricultural sector suffered through a drought, which reduced production but also helped lift
prices. Colorado exports continue to grow despite a weak global economy. The underlying
strength of the Colorado economy will be enough to keep employment growth positive in 2014
even as tax increases, automatic spending cuts, and continued uncertainty from federal fiscal
policy slows growth. The effects of the sequester will be felt more in regions of the state with a
high concentration of federal employees and in regions that rely on federal government
services, such as those with national parks.
While the state economy is growing at a moderate pace, there is significant variation in
economic growth across regions of the state. The economies of the Denver Metro area and the
northern Front Range are growing faster than the state economy. Employment in those regions
is growing steadily and retail sales are increasing at healthy rates. A tight housing supply and
low interest rates are causing housing prices to appreciate.
The northern region's economic recovery is one of the strongest in the state. Employment is
showing moderate gains and consumers are spending money in the region as retail sales are
strong amidst a relative strong housing market. The region's housing industry is performing well.
Similar to the other regions in state, new nonresidential construction remains low. The Bureau of
Labor Statistics reported that the Fort Collins -Loveland and Greeley areas added over 8,000
new jobs in 2013. The Greeley MSA's unemployment rate was 6.7 percent in February, 2014,
lower than the 6.8 percent statewide rate. With over 4,000 farms in the region, agriculture is a
key component of the northern region's economy. Livestock production was up 6.4 percent
over the prior -year period. The number of cattle and calves on feed for the slaughter was
estimated at 1,160,000, up from 1,090,000 a year ago according to state data.
Oil extraction in Weld County continues to boost job and income growth. The big news for Weld
County economically is that Weld County is on pace to produce almost 80 percent of the state's
oil output this year, bringing with it continued development and challenges with which the
industry and government officials must grapple. Over 90 percent of the drilling in the state is
going on in Weld County this year. The oil and gas development has lead to the creation of over
3,000 new jobs, poured millions into the local economy from royalty payments, and has
increased the assessed value for the property tax bases of every local government in Weld
County. The development is anticipated to continue for the next few years, as Noble Energy,
one of the biggest energy companies working in the Denver-Julesburg Basis of the Niobrara
formation, announced in June that it expects to triple its oil and gas output in the area over the
next five years. This will bode well for Weld County's economy and property tax base.
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LONG-TERM FINANCIAL PLANNING
As Weld County looks to 2014 and beyond, a number of challenges face the Board of County
Commissioners, other elected officials, and staff to meet the ever changing and growing
demands of county citizens to maintain the quality of service the citizens have grown to expect
from their county government. The County is experiencing the biggest oil and gas boom in its
history. The additional production of oil and gas is resulting in significant increases in the
County's assessed value with the oil and gas production exceeding fifty -percent of the County's
total assessed valuation. Because of the volatility of production levels and price fluctuations of
the oil and gas production, the County must 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 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.
A long-term strategy of investment in the County's infrastructure, technology and innovation,
staff training and development, and economic development for diversification of the local
economy can all have a demonstrable long-term payoff. A good county transportation system
facilitates the movement of goods and services. Investment in innovation and technology will lay
the foundation for new and more efficient governmental services being provided by Weld
County Government. Staff development ensures that the County's employees have the skills
required to provide the very best service possible to the citizens of Weld County. 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. 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 also when it eventually ends.
The Strategic Investment Plan for the Future of Weld County is a continuation of Weld County's
historical discipline of fiscal stability. 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. This financial
discipline has enabled the County to embrace the changes that are reshaping all aspects of our
lives - from how we live and work to how we share information and communicate, and in many
ways fundamentally changing the public's expectations of, and relationship with, government.
Honorable Board of Commissioners
The County will face budgetary challenges over the next few years that will involve rising costs,
particularly if inflation returns as the Federal Reserve discontinues its economic stimulus via low
interest rates, and the reality of decreasing federal revenues in the future. The County's budget
must continue to reflect a multi -year strategic approach to managing county resources within the
ongoing challenging economic environment. The primary goals of this strategy are to preserve
core services, maintain the commitment to the County's capital program, and accommodate the
impacts of the energy boom in Weld County. The County has been able to accomplish these ob-
jectives while adhering to its fund balance and reserves policy that specifies that a large
contingency fluctuation reserve be maintained as a buffer for unexpected fiscal events and the
fluctuation of oil and gas assessed values. The County's proactive management of its cost
structure using this multi -faceted approach is assurance of its commitment to maintaining fiscal
health and stability of the County.
A significant measure of Weld County's commitment to providing residents with quality services
will be how well essential infrastructure is maintained and renewed. The County will continue to
be a responsible steward of public assets. 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 similar, annual five-year Capital
Improvement Program will be used to assess the condition of all facilities and to plan necessary
repair and maintenance, as well as fund new facilities needed, such as an expanded
correctional facility. Included in the capital plan will be funding to upgrade and replace the
County's critical communication infrastructure and systems. The County will continue to use a
proactive approach to maintain the physical environment, modernize and replace aging facilities
and equipment, and maximize the public return on investments.
Weld County must continue to achieve operational efficiency through continuous efforts to
improve, and innovate, thereby maximizing value for taxpayers. By continuously working to
improve the quality, efficiency and cost effectiveness of its services, County staff will maximize
value for taxpayers and increase the ability to meet emerging public needs while living
within our financial resources. The pace of technological change and innovation in the world
around us is accelerating and Weld County must continue to draw on the expertise of its
workforce to take advantage of new ideas and tools to improve service delivery and operational
efficiency. The County must continue to use the business process analysis effort started in
2013, as an effective tool to meet the enormous challenges of revenue constraints, increasing
operational costs and growing public demands. The business process analysis is the
fundamental rethinking and redesign of the processes, tools and structures used to operate a
program or service to bring about dramatic improvements in performance. When new tools or
methods are discovered, business process analysis can help capitalize on them to improve
operations and achieve the best results for Weld County residents.
Managers at the County are expected to create and maintain a workplace that supports a
culture of continuous improvement and innovation. This can be achieved through employee
suggestions, open communication, training, and innovation and technology projects, among
other opportunities. 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
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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 County must be the center of information services innovation for advancing the delivery of
county services, anytime and anywhere. The County must be continually focused on providing
superior information services to support the multitude of county services and programs offered.
To keep up with advances in information technology (IT), the County effective January 1, 2014,
will no longer outsource its IT function through ACS/Xerox, but rather perform all IT functions
with county staff under the leadership of a new Chief Information Officer (CIO), who will
maintain strategic oversight of the technological direction. The County's goal is to provide a
reliable, 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.
What is occurring in the world around us is that the pace of change in our world is accelerating
exponentially. This dynamic is challenging all of us as individuals and as organizations, and
shows no sign of abating. In fact, the pace of change underway now in our world continues to
intensify. Fueled by technological advances, we are quickly changing and reshaping all aspects
of our lives from how we live and work to how we share information and communicate. These
technological advances in many ways are fundamentally changing the public's expectations of
and relationship to their government.
Beside technological changes, we can anticipate that as the federal government deals with
deficit spending issues there will be significant programmatic and spending changes as a result
of decisions made in Washington. These could require counties to profoundly change not just
how to provide services, but what services the County can or, in some cases, must provide. In
addition to adjusting to new roles and responsibilities, the County must also take advantage of
opportunities to improve how and where to serve the public. Departments throughout Weld
County Government need to find ways to deploy new technology tools to expand employees'
flexibility, allowing them to become more productive and better serve our customers in the
community. This means changing the way county services are designed by continually looking
for more opportunities to streamline operations and addressing public needs in innovative,
comprehensive ways. It may mean changing how the County communicates with the public by
expanding the services and information the public can find online and through the social media.
Change will be the constant as we face 2014 and the future. However, one aspect that will not
change is our commitment to fiscal discipline. Even with the added property tax resources from
oil and gas, we must continue to be good stewards of the taxpayers' money. We must continue
to deliver cost effective and efficient county services, maintain prudent reserves, and invest in
the future of our infrastructure. We will do this by working to ensure that Weld County
Government remains fiscally sound, operationally strong, and able to meet the core needs of
Weld County residents within available resources. We must continue to monitor changing
economic conditions and the uncertainties surrounding key state and federal revenue sources.
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For Weld County Government our greatest asset is our ability to combine the expertise and
dedication of our employees, the pragmatic approach to solving problems, the strong leadership
of our elected officials and department managers, and our commitment to a culture that
embraces change. With these organizational strengths, we can all be confident that Weld
County Government as an organization will meet the challenges of the future.
RELEVANT FINANCIAL POLICIES
The major factors impacting the County's financial planning continue to be related to the
continuing recovery of the economy, 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.
The economy is no longer in a free fall and there are signs of economic recovery cautiously
returning, such as lower unemployment rates, residential and non-residential construction
activity becoming more evident, population growth, and continued oil and gas development.
Given these indicators to Weld County's economic growth and recovery, there is reason to be
cautiously optimistic about the economic future of Weld County. 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 four years. For the 2014 budget, oil and gas assessed values are up
over a half billion dollars with a 15.33 percent increase, even with the significant drop in gas
prices in 2012. 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 has had to add
significant resources to the Public Works budget again in 2014 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. The Public Works 2014 budget is up over $14
million compared to last year.
2014 holds great opportunity and concern for the Weld County Department of Human Services.
It will be the first full year of the department's implementation of an Electronic Document
Management System, enabling it to scan images of all documents that are presented to it, at the
time they are received, so that they can be stored and retrieved electronically, rather than
copying, filing, and storing physical documents. The department will also participate in the
statewide Title IV -E (Foster Care and Adoption Assistance Entitlement Grant) Waiver Project,
designed to provide permanent connections for children entrusted to our care. Senate
Bill 12-078 mandates reporting of abuse of at -risk adults and could significantly impact the
workload of Adult Protection Caseworkers. The department is reorganizing its staff in
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anticipation of this increase, so that it can be prepared to provide services needed to address
this issue. Finally, and likely most significantly, 2014 will bring implementation of some of the
most impacting aspects of the Affordable Care Act. Human Services anticipates the requirement
of citizens to apply for Medicaid in order to be eligible for services under the Health Exchange
and the increase in income levels eligible for Medicaid will create an increase in caseload of
25% - 30%. The department is hiring, equipping, and training staff in anticipation of this
increase, so that it can be prepared when it arrives.
Finally, Weld County experienced historic flooding of the five major tributary rivers running
through Weld County in September, 2013. Over 20 major bridges and 150 miles of roadways
were damaged. The emergency repairs have cost in excess of $12 million and it is estimated
that with permanent repairs and flood mitigation projects the costs could exceed $20 million.
Due to the flooding the Contingency Fund may have to be used to fund some flood mitigation
efforts in 2014, depending on what FEMA approves. This will result in a transfer of funds from
the Contingency Fund and supplemental appropriations in the Public Works Fund. Some of the
Public Works grant projects may have to be delayed in 2014 to accommodate the flood repairs
and mitigation projects. FEMA will pay 75% of the eligible flood repairs and mitigation costs. The
State of Colorado will pay 12.5%. As indicated above the latest estimates of costs indicate the
amount could exceed $20 million in total costs with Weld County paying 12.5% or over $2.5
million.
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, 2012. This was the thirth-first year that the
County has received this prestigious award. In order to be awarded a Certificate of
Achievement, the County published an easily readable and efficiently organized Comprehensive
Annual Financial Report. This report satisfied both generally accepted accounting principles
and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement
Program's requirements and we are submitting it to the GFOA to determine its eligibility for
another certificate.
In addition, the County also received the GFOA's Award for Distinguished Budget Presentation
for its 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.
11
Honorable Board of Commissioners
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 2013 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, 2013. 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,
Donald D. Warden,
Director of Finance
12s
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14
COUNTY OF WELD
STATE OF COLORADO
PRINCIPAL COUNTY OFFICIALS
December 31, 2013
Board of County Commissioners
Douglas Rademacher
Sean Conway
Barb Kirkmeyer
Bill Garcia
Mike Freeman
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.
15
16
FINANCIAL
SECTION
NEIPMcGee, Hearne & Paiz, LLP
Certified Public Accountants and Consultants 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, 2013, 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 fmancial 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 $2,397,187 and
whose revenues totaled $2,596,771 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
fundinformation of the County as of December 31, 2013, 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 28, the schedules of funding progress and employer contributions,
the condition assessments of infrastructure, and the budgetary comparison information on pages 83 through 98
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 comprise the
County's basic financial statements. The accompanying supplementary information (the combining and
individual nonmajor fiend 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 25, 2014, 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.
tc,
/6„ 7-1.tbmq,
Cheyenne, Wyoming
June 25, 2014
14'
18
MANAGEMENT'S DISCUSSION AND ANALYSIS
This section of the report provides readers with a narrative overview and analysis of the
financial activities of Weld County for the fiscal year ended December 31, 2013. We encourage
readers to consider the information presented here in conjunction with the letter of transmittal
and basic financial statements to enhance their understanding of the County's financial
performance.
FINANCIAL HIGHLIGHTS
• Weld County's assets exceeded liabilities by $410.8 million at the end of 2013. Of this
amount, $58.8 million may be used to meet the government's ongoing obligations to citizens
and creditors. The remaining $352.0 million is invested in capital assets or restricted by law.
• The County's General Fund balance was $21.5 million as of December 31, 2013. Of this
amount, $0.7 million for non -spendable assets, $7.1 million is restricted; $2.1 million
committed for economic development; $11.5 million for encumbrances. The remaining $.2
million is available to meet the ongoing obligation to citizens and creditors.
• The 2013 General Fund of balance of $21.5 is 21.0% of 2013 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 2014.
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).
19
Both of the government -wide financial statements distinguish functions of the County that are
principally supported by taxes and intergovernmental revenues (governmental activities) from
other functions that are intended to recover all or a significant portion of their costs through user
fees and charges (business -type activities). Weld County's governmental activities include
general government, public safety, roads and bridges, auxiliary, culture and recreation, and
health and human services. The County has one business type activity — operation of the
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 E-911 Emergency. More information on the functions of these entities can be
found in Note 1 to the financial statements.
Fund financial statements. A fund is a grouping of related accounts that is used to maintain
control over resources that have been segregated for specific activities or objectives. Weld
County, like other state and local 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 are used to account for essentially the same
functions reported as governmental activities in the government -wide financial statements.
However, unlike the government -wide financial statements, governmental fund financial
statements focus on near -term inflows and outflows of spendable resources, as well as on
balances of spendable resources available at the end of the fiscal year. Such information may
be useful in evaluating a government's near -term financing requirements.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government -wide financial statements.
By doing so, readers may better understand the long-term impact of the government's near -term
financing decisions. Both the governmental fund balance sheet and the governmental fund
statement of revenues, expenditures, and changes in fund balances provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities.
Weld County maintains 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 fund 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 non -
major funds is provided in the form of combining statements elsewhere in this report.
The basic governmental fund financial statements can be found on pages 32 through 38
of this report.
20
Proprietary funds. Weld County maintains two different types of proprietary funds. Enterprise
funds are used to report the same functions presented as business -type activities in the
government -wide financial statements. Weld County has one enterprise fund, the 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 funds 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 funds provide the same type of information as the government -wide financial
statements, only in more detail. The proprietary fund financial statements provide separate
information for the Paramedic Services Fund, which is considered to be a major fund of the
County. The remaining proprietary funds, all of which are internal service funds, are combined
into a single, aggregated 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 39 through 41 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 42 through 43
Budgetary Comparisons. Weld County adopts an annual appropriated budget for all of its
funds. A budgetary comparison statement has been provided for all major funds on pages 87 to
98 of this report. Budget to actual comparisons for each of the non -major funds are provided in
other schedules elsewhere in this report.
Notes to the financial statements. The notes provide additional information that is essential to
a full understanding of the data provided in the government -wide and fund financial statements.
The notes to the financial statements can be found on pages 45 through 81 of this report.
Other information. The combining statements referred to earlier in connection with non -major
governmental funds and internal service funds are presented following the notes to the financial
statements and can be found on pages 104 through 114 and 120 through 131 respectively.
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, 2013, assets and deferred outflows
exceeded liabilities and deferred inflows by $410.8 million.
The following table provides a summary of the County's governmental and business -type net
assets for 2012 and 2013.
21
Table 1
Net Position
(in Millions)
Governmental Activities Business -type Activities Total
2012 2013 2012 2013 2012 2013
Assets
Current and other assets $240.45 $286.43 $.00 $.00 $240.45 $286.43
Capital assets 260.63 270.07 .00 .00 260.63 270.07
Total assets $501.08 $556.50 $.00 $.00 $501.08 $556.50
Liabilities
Current and other liabilities $123.97 $16.79 $.00 $.00 $123.97 $16.79
Long-term liabilities 8.38 8.93 .00 .00 8.38 8.93
Total liabilities $132.35 $25.72 $.00 $.00 $132.35 $25.72
Deferred Inflows
Property Taxes .00 119.99 .00 .00 .00 119.99
Total Deferred Inflows .00 $119.99 .00 .00 .00 $119.99
Net Position
Invested in capital assets $260.63 $270.07 $.00 $.00 $260.63 $270.07
Restricted 57.47 81.89 .00 .00 57.47 81.89
Unrestricted 50.63 58.83 .00 .00 50.63 58.83
Total net position $368.73 $410.79 $.00 $.00 $368.73 $410.79
A portion of Weld County's net position (14.3%) represents unrestricted net position of $58.83
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 (65.7%) 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 $81.89 million of the County's net position (19.9%) represents resources that are
subject to external restrictions on how they may be used. Included in this category is the
TABOR emergency reserve of $6.0 million, $4.73 million in reserves for insurance claims, $5.74
million for health, economic and social assistance programs, and $65.42 million for road and
bridge maintenance fund as required by state law.
At the end of 2013 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 $42.06 million in 2013. The following table indicates the changes in net position
for governmental and business -type activities in 2012 and 2013.
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
Regional Forensic Laboratory
Paramedic services
Total expenses
Increase (decrease) in net position
before Transfers
Transfers
Increase (decrease) in net position
Net Position Beginning
Net Position Ending
Governmental
Activities
Business -type
Activities
Total
2012 2013 2012 2013 2012 2013
$45.40 $51.56 $1.95 $0.00 $47.35 $51.56
23.82 32.24 0.00 0.07 23.82 32.31
88.24
9.71
16.65
105.94
9.64
22.79
0.00
0.00
0.00
0.00
0.00
0.00
88.24
9.71
16.65
105.94
9.64
22.79
$183.82 $222.17 $1.95
0.07 $185.77 $222.24
$34.79
44.26
37.22
1.29
36.97
7.30
0.00
$43.44
47.93
39.95
1.52
39.34
7.93
0.00
0.00 0.00
$0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0.00
0.00
0.00
0.00
0.00
0.00
0.07
2.85 0.00
$34.79
44.26
37.22
1.29
36.97
7.30
0.00
$43.44
47.93
39.95
1.52
39.34
7.93
0.07
2.85 0.00
$163.83 $180.11
$2.85 $0.07
$164.68 $180.18
21.99 42.06
4.15 0.00
(0.90) 0.00
(4.15) 0.00
21.09 42.06
0.00 0.00
26.14 42.06 (5.05) 0.00 21.09 42.06
342.59 368.73 5.05 0.00 347.64 368.73
$368.73 $410.79 $0.00 $0.00 $368.73 $410.79
Governmental Activities. Governmental activities increased Weld County's net position by
$42.06 million in 2013. Key elements of this increase are as follows:
• Total revenues were up $38.35 million, 20.9% from the prior year; primarily due to increase
in property taxes ($17.70 million) other general revenue ($6.14 million) charges for services
($6.16 million) and Operating grants and contributions ($8.42 million).
• Expenses totaled $180.11 million. This represents a 9.94% increase, with increases in
general government ($8.65 million), public safety ($3.67 million), health and welfare ($2.37
million) and streets and highways ($2.73 million).
23
Business -Type Activities. The County's only business -type activity, Northern Colorado Regional
Forensic Laboratory, net assets did not change as a result of 2013 activity. The crime Lab
began operations in August of 2013 and all operating expenditures were reimbursed by grant
funds.
FINANCIAL ANALYSIS OF THE COUNTY'S FUNDS
As noted earlier, Weld County uses fund accounting to ensure and demonstrate compliance
with finance -related legal requirements.
Governmental Funds Overview. The focus of County governmental funds is to provide
information on near -term inflows, outflows, and balances of spendable resources. Such
information is useful in assessing the County's financing requirements. In particular,
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 2013, the combined ending fund balance of County governmental funds was
$136.11 million. Of this amount the approximately $2.0 million represents an investment in non -
spendable items ($1.35 million inventory, $.20 million long term receivable and $.45 million in
prepaid expenses). Another $64.82 million of fund balance is restricted use for emergencies
($6 million) public works ($51.11 million) health, welfare and economic assistance ($6.25
million), and other programs ($1.46 million). Fund balance committed to economic development
($2.09 million), capital projects ($18.82 million), contingencies ($35.00 million) and
environmental conservation ($1.69 million) is $57.60 million. Another $11.53 million is assigned
to budget appropriations and $0.16 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 $21.57 million as of December 31, 2013, a
small increase over the $21.13 fund balance as of December 31, 2012. General fund
revenues were up with increases in property taxes ($15.0 million) and intergovernmental
revenues ($2.67 million). General fund expenditures were up in 2013 in the area of
general government, public safety and net transfers out to other funds. 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
9.9% of total 2013 expenditures, while total fund balance is 21.02% 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 $52.32 million in fund balance at the end of 2013. This amount was
$18.59 million more than the previous year. Revenues in the Public Works fund were up
2013 with a major increase from oil and gas lease revenue to the fund and an increase
in property tax 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 $3.24 million balance at the end of 2012 down $1.77 from its balance
as of December 31, 2012.
24
4 Human Services Fund. The Human Services Fund accounts for various Federal and
State human services grants. Primary funding 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 increased by $6.98 million in 2012.
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 construction of the crime lab, 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 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 five internal service funds. Information on these funds is aggregated in the
Proprietary Fund financial statements.
GENERAL FUND BUDGETARY HIGHLIGHTS
Comparison of Total Fund Balances as of December 31, 2012 and 2013
$60
$50
$40
$30
$20
$10
General Fund Public Works Social Services Human Contingent Capital Other Govt.
Services Fund Projects Funds
2012
2013
The County's budget is prepared according to Colorado statutes. The most significant budgeted
fund is the General Fund.
In December of 2012, the Board of County Commissioners appropriated $95.67 million for
general fund expenditures and other financing uses for 2013.
Table 3
Revenue and other financing sources
Expenditures and other financing uses
2013 General Fund Budget
(in Millions)
Original Final Budget Actual
Budget Amendments
$94.13 $9.82 $103.95 $103.17
$95.67 $15.76
$111.43 $102.72
During 2013 mid -year budget amendments included:
• $1.1 million for the engineering design work for WCR 49
• $1.0 million transferred to Retirement Fund to reimburse for past administrative expenses
• $1.1 million transferred to Motor Pool Fund for additional equipment
• $3.35 million transferred to Capital Expenditure Fund for construction of the back-up
dispatch center, crime lab, lining of gravel pits, and special projects
• $1.8 million for communications equipment, computer equipment, and software
• $1.6 million for unanticipated grants
• Supplemental appropriations were made to various departments for salary and benefit
reallocations.
The increase was possible because of excess fund balance ($5.9 million), various departments
under spending their budgets, and additional unanticipated revenues. Those revenues include
building inspection fees from oil and gas wells ($1.2 million), Clerk and Recorder fees from
vehicle registration ($0.75 million), Treasurer's fees ($0.4 million), and unanticipated grant
revenues ($1.6 million).
2
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, 2013 totals $270.07 million (net of accumulated
depreciation). This investment includes all land, buildings, machinery, equipment, intangible
assets and infrastructure. Total capital assets increased 2.98% in the current fiscal year.
Major capital asset events during the current fiscal year include the following:
• Road construction or major improvements totaling $12.45 million.
• Lining of gravel pits for water storage $2.9 million
• Upgrade of communications towers $2.5 million
• Construction of the new Northern Colorado Regional Forensic Laboratory $3.9 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, 2013, 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 $213.6 million in
2013. The county currently has no debt subject to the limitation. No new debt was issued in
2013.
Additional information on Weld County's debt can be found in Note 8.
27
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 2014
budget.
• Complete road and bridge permanent repairs and mitigation projects resulting from the
September, 2013 flooding
• Assessed value increased 9.29% or $605.5 million primarily from oil and gas production
• 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
• 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 Specialist to accommodate HB 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 operate 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
• 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
• Implement a small business development incentive program
• Continue to fund a Haul Route Program (HARP) to improve county roads impacted by
the energy industry due to new oil and gas drilling exploration
• Begin construction of Phases I of three phases of WCR 49 improvements
• 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, 1150 O Street, Greeley, CO 80631. Request for
additional information regarding the Housing Authority should be addressed to Tom Teixeira,
Executive Director, Weld Housing Authority, 903 6th Street, Greeley, CO 80631.
28
BASIC
FINANCIAL
STATEMENTS
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Position
December 31, 2013
ASSETS
Cash and investments
Property taxes receivable
Receivables (net of allowance for
uncollectibles)
Due from other governments
Internal balance
Inventories
Other assets
Net other post employment benefits asset
Restricted assets:
Cash and cash equivalents
Capital Assets not depreciated
Capital Assets - net of accumulated 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
DEFERRED INFLOWS OF RESOURCES
Property Taxes
Total Deferred Inflows of Resoucres
NET POSITION
Invested in capital assets
Restricted for:
Programs
Emergencies
Claims
Public Works
Other purposes
Unrestricted
Total net position
Primary Government
Governmental Business -type
Activities Activities
$ 149,125,054 $
119,745,188
12,025,190
2,367,521
73,142
1,445,372
853,214
366,884
435,619
33,020,673
237,049,039
556,506,896
6,383,854
7,574,214
39,333
2,549,535
4,367
236,995
3,331,824
5,607,840
25,727,962
119,990,840
119,990,840
270,069,712
5,736,608
6,000,000
4,734,408
63,934,016
1,485,431
58,827,919
Total
Component Units
Housing
Authority
E-911
Authority
- $ 149;125,054 b 1;637,600 $ 3;719,995
119,745,188
71.819
(73,142)
12,097.009
7,367,521
1,445,372
853,214
366,884
435,619
33,020,673
237,049,039
670,201
1,893
79,818
311,090
- 450,655
7,675 2,177,554
(1,323) 556,505,573 2,397,187 6,659,294
(1,323)
S 410,788,094 S (1,323)
See accompanying notes to the basic financial statements
6,383,854
7,574,214
39,333
2,549,535
4,367
236,995
3,331,824
5,607,840
25,727,962
119,990,840
119,990,840
270,069,712
5,736,608
6,000,000
4,734,408
63,934,016
48,425
19,145
281,662
67,570 281,662
7,675 2,628,209
1,485,431 79,818
58,826,596 2,242,124 3,749,423
S 410,786,771 $ 2,329,617 $ 6,377,632
29
COUNTY OF WELD
STATE OF COLORADO
Statement of Activities
Year Ended December 31, 2013
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:
Northern Colorado Regional Crime Laboratory
Total primary government
Component units:
Housing Authority
E;-911 Authority
Total component units
Expenses
S 43,436,041
47,925,745
39,953,729
39,341,405
1,521,540
7,932,382
180,110,842
73,321
Charges for
Services
$ 12,593,578
9,151,431
4,473,145
23,919,388
928,631
493,180
51,559,353
Operating
Grants and
Contributions
Capital
Grants and
Contributions
$ 2,538,000 $
3,360,749
14,915,296
3,122,313
450,659
7,848,495
32,235,512
71,998
S 180,184,163 S 51,559,353 $ 32,307,510 $
S 2,743,200
1,378,503
S 35,032 $ 2,552,813 $
2,490,254
$ 4,121,703 S 2,525,286 $ 2,552,813 $
GENERAL REVENUES
Taxes:
Property taxes
Specific Ownership
Severance/Tabacco
Royalties
Miscellaneous
Unrestricted investment earnings
Total General Revenues and Transfers
Change in net position
Net position - beginning
Net position - ending
See accompanying notes to the basic financial statements
30
Net (Expenses) Revenues and
Changes in Net Position
Primary Government
Governmental
Activities
Business -type
Activities
$ (28,304,463) $
(35,413,565)
(20,565,288)
(12,299,704)
(142,250)
409,293
(96,315,977)
Total
Component Units
Housing
Authority
(28,304,463) S
(35,413,565)
(20,565,288)
(12,299,704)
(142,250)
409,293
(96,315,977)
(1,323) (1,323)
$ (96,315,977) $
(1,323) S (96,317,300) S
$ - $
$ - $
105,940,567
7,347,302
2,291,667
17,325,773
4,285,545
1,181,245
138,372,099
42,056,122
368,731,972
(1,323)
410,788,094 $
S
S
105,940,567
7,347,302
2,291,667
17,325,773
4,285,545
1,181,245
138,372,099
42,054,799
368,731,972
E-911
Authority
S (155,355) $
1,111,751
S (155,355) $ 1,111,751
8,926
8,926
25,287
25,287
(146,429) 1,137,038
2,476,046 5,240,594
(1,323) S 410,786,771 S 2,329,617 $ 6,377,632
COUNTY OF WELD
STATE OF COLORADO
Governmental Funds
Balance Sheet
December 31, 2013
ASSETS
Cash and investments
Receivables (net of allowance for uncollectibles):
Current property taxes
Delinquent property taxes
Accounts
Special assessment
Due from other County funds
Due from other governments
Advances to other funds
Inventories
Other assets
Total Assets
General Fund
$ 22,643,405
83,765,541
215,602
3,127,790
217,539
38,649
71,819
135,466
341,117
$ 110,556,928
Public Works Social Services
Fund Fund
$ 50,826,784 $ 2,735,729
11,646,736
27,076
6,505,550
33,333
13,965
1,212,725
8,548,519
28,630
414,601
1,358,922
77,495
$ 70,266,169 $ 13,163,896
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable
Accrued liabilities
Other liabilities
Due to other County funds 31,461
Due to other governments
Unearned Revenue 683,080
Total Liabilities 4,849,997
Deferred Inflows of Resources:
Property Taxes
Grant Revenue
Total Deferred Inflows of Resources
Fund Balances:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows and Fund Balances
See accompanying notes to the basic financial statements
2,235,867
1,899,589
84,132,423
84,132,423
677,240
7,114,812
2,089,993
11,527,256
165,207
21,574,508
$ 110,556,928
682,573
338,797
7,435
282,987
701,443
4,367
299,267
39,333
3,200
1,028,805 1,330,597
11,724,845
5,191,729
8,592,588
16,916,574 8,592,588
1,212,725
51,108,065
77,495
3,163,216
52,320,790 3,240,711
$ 70,266,169 $ 13,163,896
32
Human Services
Fund
Contingent Fund
Capital Other Total
Expenditures Governmental Governmental
Fund Funds Funds
$ 349,243 $ 35,008,464 $ 20,904,332 $ 3,873,805 $ 136,341,762
19,861
193,303
969,950
27,119
5,066,579
33,653
8,356,657
24,615
16,532
imb
117,384,032
329,576
861,788 10,929,590
33,333
441,339
- 2,367,521
71,819
1,348,191
3,940 449,671
$ 1,559,476 $ 40,108,696 $ 29,302,136 $ 4,739,533 $ 269,696,834
126,191
158,574
52,613
386,813
2,089,629
imb
724,191 - 2,089,629
27,119
808,166
5,109,382 8,396,364
5,109,382
40,759
216,248
20,900
140,016
5,458,006
3,314,651
4,367
411,676
39,333
1,213,109
417,923 10,441,142
117,955,602
5,191,729
8,396,364 - 123,147,331
imb
34,999,314 18,816,143
835,285 34,999,314
imb
3,940
2,624,889
1,692,781
1,998,519
64,819,148
57,598,231
11,527,256
165,207
18,816,143 4,321,610 136,108,361
$ 1,559,476 $ 40,108,696 $ 29,302,136 $ 4,739,533 $ 269,696,834
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of Total Governmental Fund Balances To Statement of Net Position
December 31, 2013
Total governmental fund balances $ 136,108,361
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 249,599,715
Long-term liabilities, including bonds payable and compensated absences,
are not due and payable in the current period and therefore are not reported
in the funds
Compensated Absences
Net Pension Obligation
Net Other Post Employment Benefits Asset
(3,568,819)
(5,607,840)
366,884
Accounts receivables that do not provide current financial resources, are offset
by deferred revenues in the funds 5,191,729
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
28;696,741
Internal services used by Enterprise Fund 1,323
Net position of governmental activities $ 410,788,094
See accompanying notes to the basic financial statements
34
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to
\ I f
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y y,
35
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
Year Ended December 31, 2013
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
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
General Fund
$ 71,187,139
2,853,213
7,649,787
333,021
5,020,175
5,723,406
10,310,527
103,077,268
41,704,429
46,682,410
2,788,025
791,770
1,123,101
1,056,277
94,146, 012
8,931,256
89,000
8,573,824
(8,484,824)
446,432
Public Works
Fund
$ 18,412,942
488,663
10,737,377
1;570,237
18.717,802
859,782
50,786,803
36,992,637
201,095
37,193,732
13,593,071
5,000,000
5,000,000
18.593,071
21,128,076 33,727,719
$ 21,574,508 $ 52;320,790
See accompanying notes to the basic financial statements
Social Services
Fund
$ 6,483,126
22,560,348
29,043,474
30,478,131
336,009
30,814,140
(1,770,666)
4,000
(4,000)
(1,774;666)
5,015,377
$ 3,240;711
36
Capital Other Total
Human Contingent Expenditures Governmental Governmental
Services Fund Fund Fund Funds Funds
$
7,424,255 3,543,192
- - - 9,545
352,885 - - 3,007,010
140,295 256,764 116,085
127,464
- $ 11,980,678 $ 7,184,197 $ 17,202 $ 115,265,284
3,341,876
51,914,959
342,566
9,950,307
24, 954, 352
11,297,773
7,917,435 11,980,678 7,568,425 6,693,034 217,067,117
7,990,367
46,643
8,037,010
64,547
10,504,403
183,577
8,081,450
406,648
41,768,976
46,865,987
39,780,662
39, 351, 351
1,529,749
7,990,367
12,144,427
10,568,950 8,671,675 189,431,519
(119,575) 11,980,678 (3,000,525) (1,978,641) 27,635,598
12,351
5,000,000
4,500,000 4,169,382
592,909
13,770,733
14,170,733
12,351 (5,000,000) 4,500,000 3,576,473 (400,000)
(107,224) 6,980,678 1,499,475 1,597,832 27,235,598
942,509 28, 018, 636 17, 316, 668 2,723,778 108, 872, 763
$ 835,285 $ 34,999,314 $ 18,816,143 $ 4,321,610 $ 136,108,361
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, 2013
Net changes in fund balances - total governmental funds $ 27,235,598
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
29,572,033
(20,087,897)
9,484,136
Net effect of various transactions involving capital assets (i.e. sales, disposals)
is an increase to net position (2,229,569)
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
(271,854)
(341,967)
67,159
Interngovernmental revenues in the statement of activities that do not provide current
financial resources are not reported as revenues in the funds. 5,191,729
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.
2,919,567
Internal services used by Enterprise Funds 1,323
Change in net position of governmental activities $ 42,056,122
See accompanying notes to the basic financial statements
38
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Position
Proprietary Funds
December 31, 2013
ASSETS
Cash and cash equivalents
Property taxes receivable
Receivables (net of allowance for uncollectibles):
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 DEFERRED INFLOWS AND NET POSITION
Current Liabilities:
Accounts payable
Accrued liabilities
Due to other County funds
Unearned revenue
Advances from general fund
Total Current Liabilities
Deferred Inflows of Resources:
Property Taxes
Total Deferred Inflows of Resources
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 assets are different because certain
internal service fund assets and liabilities are included
with business -type activities.
Net assets of business -type activities
See accompanying notes to the basic financial statements
Business -type
Activity
Regional Forensic
Laboratory
Enterprise Fund
$
Governmental
Activities
Internal
Service Funds
$ 13,218,911
- 2,031,580
71,819
71,819
71,819
71,819
71,819
71,819
$
1;062,267
5,949
97,181
403,543
16,819,431
1,131,815
17,500
2,048,377
41,166,782
(23,894,477)
20,469,997
37,289,428
925,848
4,259,563
35,612
1,336,426
6,557,449
2,035,238
2,035,238
8,592,687
20,469,997
5:680,560
2,546,184
- $ 28,696,741
1,323
$ (1,323)
39
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenue, Expenses and
Changes in Net Position
Proprietary Funds
For the fiscal year ended December 31, 2013
Operating revenues:
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
Miscellaneous
Interest income
Federal grant
Gain (loss) on disposition of assets
Judgements 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
Business -type
Activity
Regional Forensic
Laboratory
Enterprise Fund
$
Governmental
Activities
Internal
Service Funds
- $ 15,079,777
- 10,379,298
6,096
63,092
2,810
71,998
(71,998)
71,998
71,998
$
25,459,075
179,505
2,526,865
6,312,719
500,025
3,620,386
250,167
13,328,771
26,718,438
(1,259,363)
1,997,895
3,949
31,255
1,372,535
241,694
131,602
3,778,930
2,519,567
400,000
2,919,567
25,777,174
- $ 28, 696, 741
(1,323)
$
(1,323)
See accompanying notes to the basic financial statements
COUNTY OF WELD
STATE OF COLORADO
Statement of Cash Flows
Proprietary Funds
For the fiscal year ended December 31, 2013
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
Other
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:
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
See Accompanying notes to the basic financial statements
Business -type
Activity
Enterprise Fund
Regional Forensic Laboratory
Governmental
Activites
Internal
Service Funds
(2,841)
(69,157)
(71,998)
71,819
179
71,998
(71,998)
(71,998)
272,985
25.198,837
(22.686,180)
(280,202)
(229,564)
131,602
3,949
2,411,427
1, 995,122
400,000
265,026
2,660,148
(5,774,090)
294,642
(5.479,448)
33,091
(374,782)
13,593,693
13,218,911
(1.259,363)
3,620,386
131,602
3,949
43,659
4,041
7,708
(348,814)
43,807
213,974
(195,956)
146,434
3.670,790
2,411,427
29,487
COUNTY OF WELD
STATE OF COLORADO
Statement of Fiduciary Net Position
Fiduciary Funds
December 31, 2013
Weld County
Other Post
Agency Weld County Employment
Funds Retirement Plan Benefits
ASSETS
Cash and cash equivalents $ 5,419,948 $ $
Accounts Receivables
(net of allowances for uncollectables): 703
Restricted assets
Cash - 10,225,328 2,821,212
Common Stock 93,432,560
US Property Fund 15,986,963
Fixed Income 36,432,106
Fund of Funds 6,307,463
Total assets $ 5,420,651 $ 162,384,420 $ 2,821,212
LIABILITIES AND NET POSITION
Accounts payable
Due to other governments
Total Liabilities
NET POSITION
Held in trust for pension benefits
and other purposes
$ 257,888 $ 41,625 $ 543,254
5,162,763
$ 5,420,651 $ 41,625 $ 543,254
See accompanying notes to the basic financial statements
$ 162,342,795 $ 2,277,958
COUNTY OF WELD
STATE OF COLORADO
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the fiscal year ended December 31, 2013
Weld County
Additions:
Employer contributions
Employee contributions
Earnings on investments, net of investment
related expenses of $306,329 and $0
Net appreciation in fair market value of investments
Reimbursment of Prior Years Expeditures
Total Additions
Deductions:
Actuarial/Trustee fees
Benefit payments
Supplies
Total Deductions
Change in net assets
Net position - beginning
Net position - ending
See accompanying notes to the basic financial statements
Retirement
Plan
Other Post
Employment
Benefits
$ 6,234,145 $
6,234,145
5,742,529
13,995,943
5,000,864
37,207,626
62,958
13,278,324
4,200
13,345,482
23,862,144
138,480,651
$ 162, 342, 795
96,870
21,736
118,606
648,681
648,681
(530,075)
2,808,033
$ 2,277,958
NOTES TO THE FINANCIAL STATEMENTS
44
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Note 1 - Summary of Significant Accounting Policies:
The County of Weld, Colorado ("County") was established in 1861, and on
January 1, 1976, became a home rule county under the provisions of
Section 30-35-501, CRS, 1973. The County operates under an elected
commissioner form of government. The County provides the full range of
services contemplated by statute or charter. These include general
government functions, public protection and safety, health, social
services, human resource services, public improvements, road and bridge
operations, planning and zoning, and general administrative services.
The financial statements of the County have been prepared in conformity
with generally accepted accounting principles (GAAP) as applied to
governmental units. The following summary of significant accounting
policies is presented to assist the reader in evaluating the County's
financial statements.
A. Reporting Entity:
Weld County is a political subdivision of the State of Colorado, governed
by an elected five -member Board of County Commissioners. There are also
four other elected officials of Weld County (Assessor, Clerk and
Recorder, District Attorney, and Sheriff).
The accompanying financial statements present the government and its
component units, entities for which the government is considered to be
financially accountable. Blended component units, although legally
separate entities, are, in substance, part of the government's
operations. Each discretely presented component unit is reported in a
separate column in the government -wide financial statements (see note
below for description) to emphasize that it is legally separate from the
government.
Discretely presented component units:
The Weld County Housing Authority is responsible for assisting Weld
County residents with housing assistance. The Board of County
Commissioners appoints all of the five -member Housing Authority Board.
The County has the ability to remove any of the appointed board members,
they can modify decisions made by the board and can hire or fire persons
responsible for the day to day operations. The Weld County Housing
Authority is governed by state regulations, but was designated as part of
the County for budgetary and audit purposes by an act of the Colorado
General Assembly in 1989. 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
45
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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.
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 17" 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.
46
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 Ended December 31, 2013
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.
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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.
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.
49
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 Crime Lab 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, Proprietary 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 to be available, except for property taxes, 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.
50
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Property taxes, licenses, 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.
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 Services Fund is funded by Federal and State 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.
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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.
52
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 when available, or values provided by
investment managers.
2. Property Taxes:
Property taxes attach as an enforceable lien on property as of January 1.
Taxes were levied on December 21, 2013, 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.
53
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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".
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,
assets (computer software and right of ways for land
infrastructure assets (e.g., roads, bridges and similar
reported in the applicable governmental or business -type
columns in the government -wide financial statements. Capital
intangible
use) , and
items), are
activities
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 value
of the asset or materially extend assets' lives are not capitalized.
54
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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
Infrastructure
Equipment
Heavy Equipment
- Bridges
- Roads
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.
The unpaid sick leave, vacation pay and related benefits at the end of
the period will generally not be paid with expendable and available
resources. Proprietary funds accrue sick leave, vacation pay and related
benefits in the period they are earned by the employees.
The entire compensated absence liability is reported on the government -
wide financial statements. 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.
55
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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, 2013, fund balances
for governmental funds are comprised of the following:
1.Nonspendable fund 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 fund 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.Committed 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
5.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.
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.
56
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 fund 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 six -
million dollars or three -percent of the TABOR revenue limit,
whichever is greater.
57
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Fund balances for all major and non -major governmental funds as of
December 31, 2013, are distributed as follows:
Nonspendable
Inventory
Long -Term Accounts Receivable
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
Unassigned
Total Fund Balance
General
135,466
200, 657
341,117
677,240
Public
Works
1,212,725
1,212,725
- 51, 108, 065
6/000,000
1,114,812
7,114,812
2,089,993
08_a, 993
11,527,256
11,527,256
165,207
21,574,508
51,198?,965
Social
Services
77,495
77,495
3,163,216
3, 1 63,
52,320,790 3,240,711
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Human Capital
Services Contingent Expenditures Non Major Total
27, 119
27, 119
808, 166
808, 166
- 1,348,191
- - - 200,657
- - 3,940 449, 671
- - 3,940 1,998,519
51, 108, 065
2,254,270 2,254,270
3,163,216
808,166
6,000,000
- 370,619 1,485,431
- 2,624,889
- 18,816,143
34, 999, 314
- 34, 999, 314
x,783
- 1,692,781
18, 816, 143
34, 999, 314 18, 816,143
64,819,148
18, 816,143
1,692,781
34,999,314
2,089,993
1,692,781 57, 598, 231
17,527,256
- 11,527,256
165,207
4,321,610 136, 108, 361
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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, 2013, the county's General Fund has a total of $2,084,422 in
encumbrances, which were reported as $557,166 of the assigned fund
balance and $1,527,256 in the restricted fund balance on the governmental
fund balance sheet. Encumbrance balances by major funds and non -major
funds as of December 31, 2013 are:
General Fund
Public Works
Social Services
Capital
Total
Restricted
$ 1,527,256
4,113,351
94,268
51734,875
Committed
1,416,608
1,416,608
Assigned
$ 557,166
9. Net Position
Net position represents the difference between
deferred inflows. Net position invested in
related debt consists of capital assets, net of
reduced by the outstanding balances of any
acquisition construction of improvements of those assets. Net position
is reported as restricted when there are limitations imposed on their use
either through the enabling legislation adopted by the County or through
external restrictions imposed by creditors, grantors, laws or regulations
of other governments.
557, 166
Total
$ 2,084,422
4,113,351
94,268
1,416,608
7,708,649
assets, liabilities, and
capital assets, net of
accumulated depreciation,
borrowing used for the
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.
60
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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. All annual appropriations lapse at year end.
The Director of Finance and Administration is authorized to transfer
budgeted amounts within departments of each fund. Any revisions that
alter the total appropriation for a fund or for any General Fund
department must be approved by the County Commissioners through a
supplemental appropriation ordinance. During 2013, two supplemental
appropriation ordinances were enacted. Budget amounts reported in the
accompanying financial statements 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.
61
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Note 3 - Equity in Pooled Cash and Investments:
A. Cash and Investments
Cash and investments held by the Treasurer's office at December 31, 2013
as reported by the financial institutions, consisted of the following:
Deposits
Investments: FFCB 10,000,000
FHLM 9, 980, 0000
FNMA 89, 965, 000
$ 62, 127, 219
109, 945, 000
Total $172,072,219
Cash and investments held by the Treasurer's office at December 31, 2013,
excluding outstanding warrants, reported in government -wide and agency
funds consisted of the following:
Government -wide
Agency and Fiduciary funds
Total
B. Deposits
$152,636,996
19, 435, 223
$172,072,219
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,
2013, the County had deposits of $62,127,219 collateralized with
securities held by the financial institutions' agents but not in the
County name.
62
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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, 2013, the County had the
following investments:
Investment Maturities (in Years)
1 or less $ 0
1 - 3 yrs. 0
3 - 5 yrs. 109,945,000
$109,945,000
Money Market $ 62,127,219
Total $172,072,219
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, 2013, 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. 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, 2013, the County's investments in Federal Farm
Credit Bank, Federal Home Loan Mortgage, and Federal National Mortgage
Association represented 9%, 9%, and 82%, respectively of the County's
total investments.
63
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 average duration in the portfolio on December
31, 2013 was 3.9 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 $24,289,002 invested in overnight pooled money with Wells
Fargo on December 31, 2013. 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, 2013 restricted cash balance of $435,619 is made up of
$65,000 advanced to cover insurance claims and $370,619 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
$1,717,418 at December 31, 2013. Bank and investment balances before
reconciling items were $1,717,418 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 $1,717,418
Restricted cash consists of tenant section 8 HAP reserves and escrow.
The available cash balance of $3,719,995 for the E911 authority is
included in the Agency and Fiduciary Fund Cash balance of $19,435,223
held at the Weld County Treasurers Office listed above.
64
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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
Human Services
Capital
Internal Service
Payable Fund
Public Works
Social Services
Health
Human Services
General
Internal Service
Social Services
Internal Service
General
Public Works
Internal Service
$ 6,935
105,964
20,900
52, 613
31,127
13,965
193,303
16, 532
334
500
5,115
$ 447,228
65
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Transfers in/out:
Transfers are indicative of funding for capital projects or subsidies of
various County operations and re -allocation of special revenues. The
following schedule briefly summarizes the County's transfer activity:
Transfers From:
Transfer To:
General Fund
Public Works
Human Services
Capital
Non -Major Government
Internal Service
General
Fund
12,351
4,500,000
3,661,473
400,000
8,573,824
Social
Services
4,000 $
Contingent
Fund
- 5,000,000
4,000
5,000,000
Note 5 - Allowance for Uncollectible Accounts Receivable:
The allowance for uncollectible
December 31, 2013:
Fund Ty
General
Public Works
Social Services
Contingent
Capital Expenditures
Internal Service
Total
Non -Major
Government
$ 85,000 $
507,909
T'ota-
89, 000
5,000,000
12,351
4,500,000
4,169,382
400,000
592,909 14,170,733
receivables consists of the following at
Allowance for
Uncollectible
$ 54,982
6,916
7,273
8,413
6,314
1,623
85, 521
66
hi
to
\ I f
f 8 T:
y y,
67
COUNTY OF WELD
STATE OF COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2013
Note 6 - Capital Assets:
Capital asset activity for the year ended December 31, 2013, was as follows:
Governmental activites
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
Improvements
Equipment
Infrastructure
Total accumulated depreciation
Total capital assets being depreciated, net
Beginning
Balance
S 8,886.168 $
742.972
12.290,709
5.543.026
Increases
404.063
1,706,294
8.289.986
27.462.875 10,400,343
132.837.192
11.251.320
48,507,170
330.891.954
4.595.348
82.572
8.305,014
12.450,675
523.487.636 25.433,609
36.152.661
3.255,714
29,204,751
221, 706.503
3.208,824
460.148
4,315,362
15,723,948
290.319.629 23.708,282
233.168.007
1.725.327
Decreases Transfers In (Out)
14.450
14.450
2.744.365
5.726.872
8.471.237
2,247,743
3.551.104
5.798.847
2.672.390
54,759
(101,316)
(4,781,538)
(4,828,095)
752,864
59,032
3,914,883
101,316
4,828,095
4,828,095
Ending
Balance
S 8,886.168
1.201.794
13,881,237
9.051,474
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
Governmental activities capital assets, net S 260.630.882 $ 12.125.670 $ 2.686.840 $ - $ 270.069.712
68
COUNTY OF WELD
STATE OF COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2013
Housing Authority
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Buildings
Improvements
Equipment
Total accumulated depreciation
Total capital assets being depreciated, net
Housing Authority capital assets, net
E-911 Assets:
Beginning
Balance
Increases
Ending
Decreases Transfers In (Out) Balance
S 23, 907 $ $ - $
$ 23,907
23,907 - - 23,907
14,765
14,765
9,142
1.467 - - 16,232
1.467 - 16,232
(1,467) - 7,675
$ 9,142 $ (1,467) $
Capital Assets not being depreciated
Construction in progress S
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
4.502,545
4.502.545
1.962.930
1.962.930
$ 450.655 $ $
$ 7,675
$ 450.655
26.916 - 4.529.461
26.916 - 4.529.461
388.977 - - 2.351.907
388.977 - - 2.351.907
2.539,615 (362,061) - - 2.177.554
S 2.539,615 $ 88.594 $ $ - $ 2.628.209
69
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Depreciation expense was charged to functions/programs
government as follows:
Governmental activities:
General government
Public safety
Streets 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:
of the
primary
$ 1,653,535
1,813,243
16,133,573
23,471
6,884
457,190
3,620,386
$ 23,708,282
1,467
388,977
$ 390,444
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 fund.
70
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 (IBNR) at year-end are
shown as accrued liabilities in the fund. These estimates are based upon
a third -party administrator's review of claims and actuarial projections
from historical claims data. Changes in the balances of claims
liabilities during the current and prior years are as follows:
Unpaid Claims - Beginning
Incurred Claims. (Includes IBNR'S)
Claims Paid
Unpaid Claims - Ending
2012
$ 1,980,880
548,329
(1,024,159)
2013
$ 1,505,040
1,380,442
(1,404,597)
$ 1,505,040 $ 1,480,885
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
$125,000 self -insured retention during current and prior years are as
follows:
Unpaid Claims - Beginning
Incurred- Claims (Includes IBNR'.$)
Claims Paid
Unpaid Claims - Ending
2012
200,943
184,872
(198,706)
20:3
187,109
412,676
(387,709)
$ 187,109 S 212,076
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.
71
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 - Beginning
Incurred C=airns
Claims Paid
Unpaid Claims - Ending
Note 8 - Long -Term Debt:
2012
$ 2,231,336
11,120,657
(11,018,669)
S 2,333,324
S
2013
2,333,324
11,448,614
(_1,234,761)
$ ?_,547,177
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 $213,565,036 at December 31,
2013.
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, 2013 totaled $3,828,998
Changes in long-term liabilities
Long-term liability activity for the year ended December 31, 2012, 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
Y
Beginning
Balance tidd.it_cr_s Reductions
1,635,528
477,146
822,246
203,092
158, 953
3,296,965
S 233,522
35,0.54
133, 195
7,170
50,856
459,797
Ending
Balance
67,8.87 $1,801,163
6,935 505,265
76,548 878,893
4,781 205,481
31,792 178,017
$ 187,943
S 3,568,6_9
Due Within
One Year
$ 99,059
8,437
84,903
7,952
1,644
S 236,995
72
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 obligation
(asset) activity is recorded in the County' General Fund.
Annual Pension Cost and Net Pension Obligation:
The County's annual pension cost and net pension obligation to the Plan
the current year were:
Annual Required Contributions
Interest on net pension obligation
Adjustment to Annual Required Contribution
Annual Pension Cost
Contributions made
Increase in net pension obligat_cn
Net pension obligation (asst) hcq _;LE_siq of year
Net pension obligation (assn_) end of your
$ 6,505,700
421,270
(350,8.58)
6,576,112
(6, 234, 145)
34:, 967
5,265,873
$ 5,607,840
The annual required contribution for the current year was determined as
part of the January 1, 2013 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 short-
term volatility in the market value of investments over a five-year
period. The unfunded actuarial liability is being amortized as a level
percentage of projected payroll on an open basis. The remaining
amortization period at January 1, 2013, was 30 years. Pension
obligations are paid by County funds in proportion to the salary incurred
by each fund.
73
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Three -Year Trend Information:
Fiscal l' a_ E_idcd
December 31, 2011
December 31, 2012
December 31, 2013
Funding Status:
Actuarial
Valuation
Date
Actuarial
Value of
Assets
(a)
Annual Pension
Cost (APC)
6,443,570
6,127,203
6,576,112
$138,911,110
Actuarial
Accrued
Liability
(AAL)
Entry Age
(b)
$212,186,030
Percentage of APC
Contributed
104.1%
97.43%
94.80%
Unfunded
AAL (UAAL)
(b -a)
$73,274,920
Net Pension
Obligation (Asset)
5,108,709
5,265,873
5,607,840
Funded Covered
Ratio Payroll (c)
(a/b)
UAAL as a
Percentage of
Covered
Payroll
[b -a) /c]
65.47% 55,833,201 131.24%
A schedule of funding progress can be found in the RSI 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.
74
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Note 10 - Other Post Employment Benefits:
Plan Description:
Weld County Other Post Employment Benefits Plan (OPEB Plan) is a single -
employer 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.
75
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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 2013, the county contributed $0
to the plan. Plan members receiving benefits contributed $96,890, or
approximately 100 percent of the total premiums, through their required
contribution ranging from $120 to $146 per month for retiree -only
coverage and between $209 to $315 for retiree and spouse coverage. The
OPEB Plan assets are deposited in the Weld County OPEB Plan Trust Fund.
The employer's contributions to the trust fund are 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 (OPEB) 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 78 members in 2013 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 OPEB cost for the
year, the amount actually contributed to the plan, and changes in the
county's net OPEB obligation to Weld County:
76
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Level Dollar Amortization
Calculation on ARC under Projected Unit Credit Method on December 31,
2013
Amortization of ti AAL over 25 years
Normal cost at beginning of year
Interest
Annual OPEB cost
Interest Earned on Net OPEB Asset
2013 Gross Annual Required Contribution
Employee Contributions
2013 Net County ARC
County Contribution
Decrease in net OPI',N obligation
Beginning OPEB obligation (asset)
Ending OPEB Obligation (asset)
0
51,444
0
51,444
(21, 736)
29,708
(96,867)
(67,159)
0
s
(67, 159)
(299, 726)
(366,885)
There is no unfunded actuarial accrued liability (UAAL) at the end of the
year. A surplus of $366,885 exists.
Covered Participants as of January 1, 2014
Retired Employees
Spouses of Retired En_p_oyees
Three -Year Trend Information:
Fiscal Year End
December 31, 2010
December 31, 2011
December 31, 2012
December 31, 2013
Ann.:a1 OPEB Cost
710,071
710,071
713,965
51,444
54
8
Percentage of
OPEB cost
Contributed
218%
161%
100%
188%
62
Net OPEB
Asset
$(1,157,309)
$(1,685,635)
$ (299, 725)
$ (366,885)
77
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
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, 2013 was $2,551,388 there were $2,918,273 in assets on
December 31, 2013 for funding excess of $366,885. All related pension
obligation (assets) are recorded in the County's General fund.
Funded Status and Funding Progress. The funded status of the plan as of
December 31, 2013, was as follows:
A:: Luarial Accrued Liability (AAL)
Actuarial value of plan assets
Fund Excess
Funded ratio (actuarial value of plan assets/AAL)
S 2,551,388
$ 2,918,273
$ (366, 885)
114.38%
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.
78
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Note 11 - Commitments and Contingencies:
Commitments
As of December 31, 2013 there were encumbrances carried forward to 2014
of $1,527,256 in the General fund, consisting of $210,613 for general
purchases and $1,316,643 for Communications system development. The
Public Works fund carried forward $4,113,351 for road construction
projects. In the capital expenditures fund year-end projects under
construction included $896,108 for building improvements, $520,500 for a
Public Works storage building.
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, 2013
Assets
Liabilities
Net Position
Revenues
Expenses
$ 407,183
7,230
399,953
523,188
571,481
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.
79
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Note 13 — Non -Cash Activity in Social Services Fund
Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures
For the Year Ended December 31, 2013
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
5,408,582
7,683
126,627
5,53.5,209
134,310
Low -Income Energy
Assistance Program
1,130,102
-
110,319
1,240,421
110,319
Temporary Assistance for
Needy Families
4,487,278
798,541
2,644,926
7,132,204
3,443,467
Administration
7,220
1,444
8,386,810
8,394,030
8,388,254
Trails/Child Welfare
7,960,848
1,617,456
11,367,599
19,328,447
12,985,055
Core Services
•
1,766,525
303,021
495,974
2,262,499
798,995
Aid to the Needy Disabled
1,088,502
172,645
(45,796)
1,042,706
126,849
IV -D Administration
-
-
3,307,939
3,307,939
3,307939
CHATS/Child Care
2,922,863
406,975
614,040
3,536,903
1,201,015
General Assistance
-
-
498,054
498,054
498,054
Subtotal
24,771,920
3,307,765
27,506,492
52,278,412
30,814,257
Food Assistance
39,797,995
-
(117)
39,797,878
(117)
Grand Total
64,569,915
3,307,765
27,506,375
92,076,290
30,814,140
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.
80
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Note 14 - Recent Pronouncements:
In June 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 determent.
81
hi
to
\ I f
f 8 T:
y y,
82
Required Supplementary Information
Other Than MD&A
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Schedule of Funding Progress - Retirement Plan
Actuarial
Valuation
Date
1/1/06
1/1/07
1/1/08
1/1/09
1/_/2010
1/1/2011
1/1/2012
1/1/2013
Actuarial
Value of
Assets
(a)
$103,979,296
$112,874,087
$125,879,138
$112,079,550
$131,288,037
$134,917,364
$135,173,969
$138,911,110
Actuarial
Accrued
Liability
(AAL)
Entry Age
(b)
$136,792,785
$150,145,842
$167,011,647
$176,927,890
$186,0:5,431
$193,269,672
$203,114,167
$212,186,030
Unfunded
AAL (UAAL)
(b -a)
$32,813,489
r
$37,271,755
$41,132,509
$64,848,340
$54,727,394
$58,352,308
$67,940,198
$73,274,920
Funded
Ratio
(a/b.)
76.0
75.2%
75.4`
63.3%
70.6%
69..8%
66.55=
65.47%
Covered
Payroll (c)
$41,529,717
$44,2_10,410
$49,967,777
$53,988,779
$53,484,492
$53,415,982
$55,871,701
$55,833,201
Schedule of Employer Contributions - Retirement Plan
Year Ended
December 31
2006
2007
2008
2O09
2010
2011
2012
2013
Required
Annual
Required
Contribution`
$4,236,858
$4,408,097
$4,928,519
$7,087,011
$5,417,362
$6,013,818
$6,138,685
$6,505,700
contribution at beginning
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
of year.
UAAL as a
Percentage
of
Covered
Payroll
[b-a)/c]
Percentage
Contributed
75.7%
83.6%
84.9%
70.0%
90.2%
111.50
97.25%
95.83%
79.0%
84.3%
82.3%
:20.1%
_02.3%
109.2%
121.60%
131.24
83
COUNTY OF WELD
STATE OF COLORADO
Year Ended December 31, 2013
Schedule of Funding Progress - Other Post Employment Benefits
Actuaria_
Valuati on
Date
Actuarial
value of
Assets
(a)
$ 1,831,353
S 1,856,115
S 2,550,854
$ 2,784,877
$ 3,521,997
$ 2,918,273
Actuarial
Accrued
Liability
(AAL)
Entry Age
(b)
$ 8,346,023 $
$
$
$
8,346,023
8,346,023
8,346,023
3,222,272
2,551,388
Unfunded
AAL (UAAL),
(Excess
Funding)
(b -a)
6,514,670
6,489,908
5,795,169
5,561,146
(299,725)
(366,885)
Funded
Ratio
(a/b)
21.9%
22.2%
30.1%
33.4°
109.3-
114.38%
Schedule of Employer Contributions - Other Post Employment Benefits
Year Ended
December 31
2010
2011
2012
2013
(1)Required
Annual
OPEB
Cost")
$710,071
$710,071
$713, 96.5
$51,444
contribution
Actual
Contribution
$1,364,055
$960,700
$713, 965
$96,867
at beginning of year.
Percentage
Contributed
192.1%
135.3%
100.00
188.3%
84
COUNTY OF WELD
STATE OF COLORADO
Required Supplementary Information
Modified Approach for Infrastructure Assets
Weld County prepares an annual gravel road plan. In doing this each of the sections of gravel roads has been evaluated
by supervisors. They use the State guidelines as out lined in Section 43 -2 -120(5)(a -b), C.R.S. 1973, which is stated
below. Since gravel roads condition can change quickly based on weather conditions the road plan may have to be
modified to take care of such problems. Therefore, an official road maintenance system is difficult to put in place. It is
the County's policy to maintain the roads in fair or better condition. 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.
Condition
Good
Fair
Poor
Miles
1784
383
74
2013
% of Total
79.6%
17.1%
3.3%
Miles
1821
377
64
Comparison of Estimated -to -Actual Maintenance/Preservation
2009
Estimated $ 2,947,356
Actual $ 1,572,615
2012
% of Total
80.5%
16.7%
2.8%
2010 2011 2012
$ 2,915,000 $ 3,160,000 S 3,132,000
S 3,046,576 $ 2,683,326 $ 3,696,246
Gravel Roads - Surface Condition Rating Criteria
Miles
1574
658
56
2011
% of Total
68.8%
28.7%
2.5%
2013 2014
3,360,875 $ 2,696,700
3,131,555
Section 43-2-120 (5)(a -b), G.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 anddrainage 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.
85
86
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, 2013
Budget - GAAP 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 Services
Fines and Forfeitures:
Property forfeitures/evidence
Fines (drunk drivers)
Total Fines and Forfeitures
Miscellaneous:
Miscellaneous
Interest
Rents from buildings
Sales of assets
Total Miscellaneous
(CONTINUED)
Original Final
$ 71,116,616
60,000
$ 71,116,616
120,000
71,176,616 71,236,616
5,500
375,000
1,000,000
200,000
8,500
385,000
1,700,000
500,000
1,580,500 2,593,500
3,000
3,201,898
547,104
264,240
2,481,652
3,000
5,007,048
547,104
364,240
4,016,242 8,403,044
300,000
3,718,267
120,500
23,500
800,000
3,913,767
120,500
23,500
4,162,267 4,857,767
303,500 303,500
303,500 303,500
2,510,012
1,100,000
517,446
4,668,136
1,100,000
517,446
5,000
4,127,458 6,290,582
Actual
$ 70,912,087
209,290
65,762
71,187,139
8,590
401,998
1,859,369
583,256
2,853,213
2,690,133
3,892,276
736,852
330,526
Variance
$ (204,529)
89,290
65,762
(49,477)
90
16,998
159,369
83,256
259,713
208,481
(3,000)
(1,114,772)
189,748
(33,714)
7,649,787 (753,257)
840,232
4,039,943
118,907
21,093
5,020,175
175,709
157,312
333,021
40,232
126,176
(1,593)
(2,407)
162,408
175,709
(146,188)
29,521
4,176,371 (491,765)
983,330 (116,670)
558,553 41,107
5,152 152
5,723,406 (567,176)
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, 2013
Budget - GAAP Basis
REVENUES (CONTINUED)
Fees:
Fee account
Treasurer's fees
Cable 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 registration
Motor vehicle
County Treasurer
County Assessor
Maintenance of buildings/grounds
County Council
District Attorney
Juvenile Diversion Grant
Adult Diversion
Victim Assistance
MYAT - Probation
Financial administration
General accounting
Purchasing
Personnel
Geographical Information Systems
Computer Services
Inovation & Technology Project
Printing and Supply
Smart Energy Project
Total General Government
(CONTINUED)
Original Final
8,567,000
50,000
60,000
8,677,000
10,041,245
50,000
90,000
Actual
10,186,009
40,849
83,669
10,181,245 10,310,527
Variance
144,764
(9,151)
(6,331)
129,282
94, 043, 583 103, 866,254 103, 077, 268 (788, 986)
881,660
782,260
1,632,913
315,729
992,794
1,157, 749
2,180,446
886,839
2,805,011
5,900,203
47,368
4,977,286
96,518
51,593
712,665
530,585
673,729
245,605
822,786
169,199
2,616,597
2,000,000
347,967
740,605
910,010
892,260
1,737,913
385,729
996,794
1,157,749
2,183,546
1,022,839
3,031,511
6,245,203
47,368
5,276,286
97,518
61,593
712,665
30,000
552,585
741,729
250,605
994,223
210,199
3,427,597
1,000,000
376,967
1,481,210
31,568,107 33,824,099
866,162 43,848
902,768 (10,508)
126 (126)
1,570,111 167,802
289,814 95,915
900,563 96,231
600,927 556,822
2,175,483 8,063
922,245 100,594
2,608,605 422,906
5,913,086 332,117
8,775 38,593
5,161,884 114,402
100,051 (2,533)
57,729 3,864
1,292,847 (580,182)
27,495 2,505
525,506 27,079
715,454 26,275
246,536 4,069
820,056 174,167
206,110 4,089
3,312,730 114,867
311,844 688,156
316,099 60,868
1,047,770 433,440
30,900,776 2,923,323
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, 2013
Budget - GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED)
Public Safety
Sheriff administration
Crime control and investigations
Traffic control
Municipal Service Contracts
Task force
Regional forensic laboratory
Communications services
Communication system development
Criminal justice
Justice Services
County Coroner
Correctional administration
Community correction
Building inspection
Office of emergency management
Waste water management
Animal control
Pest/weed control
Victim Advocates
Total Public Safety
Public Works:
General engineering
Extension services
Veteran office
Airport
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:
Missile site park
Parks and Trails
County fair
Total Culture and Recreation
(CONTINUED)
1,832,313 1,954,313 1,906,275 48,038
7,245,005 7,267,737 7,213,137 54,600
1,067,483 1,067,483 973,400 94,083
877,782 1,047,782 997,503 50,279
109,516 109,516 232,508 (122,992)
303,340 581,520 412,243 169,277
3,140,421 4,900,421 3,152,925 1,747,496
- 30,000 74,275 (44,275)
1,214,224 1,214,224 1,579,440 (365,216)
548,306 585,681 580,496 5,185
778,172 802,172 781,161 21,011
22,776,384 23,607,684 23,444,590 163,094
2,489,458 2,489,458 2,767,305 (277,847)
1,157,661 1,340,661 1,187,392 153,269
228,833 258,833 242,036 16,797
10,000 10,000 1,000 9,000
291,342 299,342 280,994 18,348
790,370 791,370 710,175 81,195
152,018 170,018 123,140 46,878
45,012,628 48,528,215 46,659,995 1,868,220
2,804,326
335,432
63,415
3,027,301
431,432
88,915
2,126,323
590,132
74,428
900,978
(158,700)
14,487
3,203,173 3,547,648 2,790,883 756,765
203,225
38,225
13,000
114,700
6,780
203,225
38,225
13,000
1,051,300
6,780
375,930 1,312,530
86,425
29,000
326,660
86,425
29,000
342,660
442,085 458,085
184,825 18,400
38,225
13,000
548,940 502,360
6,780
791,770 520,760
69,250
29,000
1,021,993
17,175
(679,333)
1,120,243 (662,158)
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, 2013
Budget - GAAP Basis
EXPENDITURES (CONTINUED)
Miscellaneous:
Other
Refund of Prior Years Retierment Benefi
Building rents
Total Miscellaneous
Capital Outlay:
Capital purchases
Original Final
3,855,399
5,000,000
87,075
6,490,708
5,000,000
87,075
8,942,474 11,577,783
2,447,268 3,609,798
Total Expenditures 91,991,665 102,858,158
Other Financing Source (Use)
Transfers - In:
Non -Departmental
Transfers - Out:
Appropriation Grants -In -Aid
Total Other Financing Sources (Uses)
85,000
3,673,824
(3,588,824)
Net Change in Fund Balance (1,536,906)
Fund Balance at Beginning of Year
Fund Balance at End of Year
85,000
Actual
5,763,847
5,000,000
62,221
10,826,068
Variance
726,861
24,854
751,715
1,056,277 2,553,521
94,146,012 8,712,146
89,000
8,569,824 8,573,824
(8,484,824) (8,484,824)
(7,476,728)
4,000
(4,000)
446,432 7,923,160
21,128,076 21,128,076 21,128,076
$ 19,591,170 $ 13,651,348 $ 21,574,508 $ 7,923,160
91
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, 2013
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 registration fees
Highway user tax fund
Total Intergovernmental
Charges for Services:
Charges for services
Miscellaneous:
Earnings on deposits
Special assessments
Royalties
Miscellaneous
Total Miscellaneous
Fees:
Other fees
Total Revenues
Original Final
$ 9,000,000 $ 9,000,000
2,250,000 2,250,000
6,000,000 6,000,000
17,250,000
530,000
90,000
300,000
3,216,672
330,000
9,550,000
13,486,672
3,000,000
3,593,000
6,593,000
37,859,672
17,250,000
530,000
90,000
570,000
3,536,672
330,000
9,550,000
14,076,672
700,000
5,199,000
3,990,000
9,189,000
41,745,672
Actual
$ 8,975,946
2;082;377
7;346;322
8,297
18,412,942
488,663
359,254
314,252
4,328
340,304
9;719,239
10;737,377
1,570,237
38,743
3,333
17,325,773
1,349,953
18,717,802
859,782
50,786,803
Variance
$ (24,054)
(167;623)
1;346,322
8;297
1,162,942
(41,337)
269,254
(255,748)
(3,532,344)
10,304
169;239
(3.339,295)
870,237
38;743
3,333
12,126,773
(2,640,047)
9.528.802
859,782
9,041,131
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, 2013
Budget - GAAP Basis
EXPENDITURES
Public Works
Bridge construction
Maintenance of condition
Maintenance support
Trucking division
Mining division
Administration
Pavement Management
Other public works
Total Public Works
Intergovernmental:
Grants-in-aid to cities/towns
Capital outlay
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
Contingent Fund
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
Original Final
3,197,856
6,497,897
1,235,658
4,482,666
3,246,116
729,791
6,866,377
14,897,267
41,153,628
1,534,578
42,688,206
(4,828,534)
33,727,719
3,832,856
7,157,897
1,344,658
4,732,666
4,481,616
764,791
7,941,377
23,968,067
54,223,928
1,534,578
100,000
55,858,506
5,000,000
5,000,000
(9,112,834)
33,727,719
Actual
3:888,793
6,732,426
1,157,682
4,525,080
2,500,287
942,134
6,804,105
8,797,900
35,348,407
1,644,230
201,095
37.193,732
5;000,000
5,000,000
18,593,071
33.727,719
Variance
(55,937)
425.471
186,976
207,586
1,981,329
(177,343)
1;137, 272
15.170,167
18.875,521
(109,652)
(101;095)
18,664,774
27, 705, 905
Fund Balances at End of Year $ 28,899,185 $ 24,614,885 $ 52.320,790 $ 27,705,905
93
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, 2013
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Penalties & Interest
Total Taxes
Intergovernmental:
Welfare
Total Revenues
EXPENDITURES
Public Health and Welfare:
Administrative - regular
Administrative - IV -D
Food stamps
Other Programs
General assistance
TANF
AND - State
Child welfare
Day care
(CONTINUED)
Original Final
$ 6,500,000 $ 6,500,000
6,500,000 6,500,000
19,866,602
26,366,602
8,792,945
3,125,000
250,000
10,000
2,678,000
20,000
12,530,000
916,000
23,827,602
30, 327, 602
9,292,945
3,425,000
350,000
10,000
3,628,000
120,000
13,030,000
1,005,000
Actual
Variance
$ 6,478,330 $
4,796
6,483,126
22,560,348
29,043,474
7,733,535
3,292,010
(117)
391,509
498,055
3,443,466
126,849
12,928,182
1,021,016
(21,670)
4,796
(16,874)
(1,267,254)
(1,284,128)
1,559,410
132,990
117
(41,509)
(488,055)
184.534
(6,849)
101,818
(16,016)
94
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, 2013
Budget - GAAP Basis
EXPENDITURES (CONTINUED):
OAP - A
Core services
Administrative - LEAP
Total Public Health and Welfare
Capital Outlay
Total Expenditures
Other Financing Sources (Uses):
Transfers - Out:
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
121,500
328,000
225,600
28,997,045
28,997,045
(2,630,443)
5,015,377
$ 2,384,934
143,500
728,000
225,600
Actual
134,309
798,996
110,321
31,958,045 30;478,131
1,000,000
336,009
32,958,045 30,814,140
4,000
(4,000)
(2,630,443) (1,774,666)
5,015,377
$ 2,384,934
5015,377
Variance
9,191
(70,996)
115.279
1.479.914
663,991
2,143,905
4,000
(4,000)
855,777
$ 3;240,711 $ 855;777
95
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, 2013
Budget - GAAP Basis
REVENUES
Intergovernmental:
Federal grants
State grants
Total Intergovernmental
Charges for Services:
Charges for services
Total Charges for Services
Miscellaneous:
Donations from private sources
Total Miscellaneous
Total Revenues
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 planning
WIA dislocated worker
Human resources lab pool
UI training program
Original Final
$ 5,388,158 $ 5,910,258
1,953,538 2,095,538
7,341,696 8,005,796
429,000 429,000
429,000 429,000
150,000 150,000
150,000 150,000
7,920,696 8,584,796
895,000
40,000
293,000
652,000
155,000
1,008,000
450,500
25,000
26,000
490,000
383,000
246,000
1,067,000
44,600
293,000
652,000
155,000
1,008,000
675,500
25,000
26,000
490,000
383,000
246,000
Actual
Variance
$ 5,516,328 $ (393,930)
1,907,927 (187,611)
7,424,255
352,885
352,885
140,295
140,295
7,917,435
(29,218)
1,129,235
49,719
276,096
672,325
160,696
790,581
672,274
16,671
381,458
347,741
160,785
(581,541)
(76,115)
(76,115)
(9,705)
(9,705)
(667,361)
29,218
(62,235)
(5,119)
16,904
(20,325)
(5,696)
217,419
3,226
8,329
26,000
108,542
35,259
85,215
96
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, 2013
Budget - GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED):
One stop
AAA administration
OAA title III -B
OAA title III -C1 congregate
OAA title III -C2
OAA in home support
Health services
AAA elder abuse
AAA ombudsman
Single entry point
LEAP
NCMC Grant
Vale Grant
AAA case management
AAA state funds
Part E family caregiver support
CSBG
Total Economic Assistance
Capital Outlay:
Human resources general fund
TANF
Employment first
Total Capital Outlay
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
OAA area agency
Total Other Financing Sources
Net Change in Fund Balance
Fund Balances at Beginning of Year
182,000
89,716
308,975
540,168
41,000
12,954
11,631
2,065
7,256
1,261,200
5,000
12,000
454,538
100,132
240,912
229,000
89,716
308,975
540,168
75,000
12,954
23,631
2,065
7,256
1,331,200
5,000
12,000
4,500
549,538
100,132
240,912
7,933,047 8,597,147
7,933,047 8,597,147
12,351
12,351
232,609
55,389
227,856
534,864
62,206
12,862
24,356
1,804
7,221
1,484,262
580
2,728
11,607
4,373
553,247
65,726
80,314
(3,609)
34,327
81;119
5,304
12,794
92
(725)
261
35
(153,062)
(580)
2,272
393
127
(3,709)
34;406
160.598
7,990,367 606,780
17,939 (17,939)
14,352 (14,352)
14,352 (14,352)
46,643 (46,643)
8,037,010 560,137
12,351 12,351
12,351 12,351
(107,224) (107,224)
942,509 942,509 942,509
Fund Balances at End of Year $ 942,509 $ 942,509 $ 835,285 $ (107;224)
97
COUNTY OF WELD
STATE OF COLORADO
Contingent Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2013
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Transfers - Out:
Other
Total Other Financing (Uses)
Net Change in Fund Balance
$ 12,000,000 $ 12,000,000 $ 11,980,678 $ (19,322)
12,000,000 12;000,000 11;980;678
12,000,000
12,000,000
Fund Balances at Beginning of Year 28,018,636
(19,322)
7,000,000 - 7.000,000
7,000,000 - 7,000,000
5,000,000 5,000,000
(5,000,000) (5,000,000)
6,980,678 6,980,678
28,018,636 28.018,636
Fund Balances at End of Year $ 28,018,636 $ 28,018,636 $ 34,999,314 $ 6,980,678
98
Supplemental Information
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2013
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 receivedfrom 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 account 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.
99
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2013
PROPRIETARY FUNDS
Enterprise Funds
Enterprise funds account for operations that are financed and operated in a manner similar to private business
enterprises where the intent of the governing body is that the costs (expenses including depreciation) of
providing goods or services to the general public on a continuing basis be financed or recovered primarily
through user charges; or where the governing body has decided that periodic determination or revenue earned,
expenses incurred, and/or net income is appropriated for capital maintenance, public policy, management
control, accountability or other purposes.
Northern Colorado Regional Forensic Laboratory:
This fund accounts for the maintenance and operation costs for 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.
100
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2013
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 arc refunded upon submission of
documentation for un-reimbursed claims.
101
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 213
COMPONENT UNITS
Component units are tied to the County with some board control. They operate as a separate fund hut 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-911 Authority Fund:
This fund operates under state statute, Article 11 of Title 29, C.R.S.. They are responsible for
administering the operations of the 911 emergency telephone service program in Weld County.
102
103
COUNTY OF WELD
STATE OF COLORADO
Combining Balance Sheet
Non -Major Governmental Funds
December 31, 2013
Conservation Public Health Solid Waste
Trust Fund Fund Fund
ASSETS
Cash and investment
Receivables (net of allowance for uncollectibles):
Current property taxes
Delinquent property taxes
Accounts
Inventories
Other assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Accrued liabilities
Other liabilities
Due to other County funds
Unearned revenue
Unexpended grant revenue
Total Liabilities
Fund Balances:
Nonspendable
Restricted
Committed
Total Fund Balances
Total Liabilities and Fund Balances
$ 370,619 $ 1,952,489 $ 1,550,697
718,243 143,545
3,940
$ 370,619 $ 2,674,672 $ 1,694,242
370,619
40,176
216,248
20,900
139,138
583
878
416,462 1,461
3,940
2,254,270
370,619 2,258,210
1,692,781
1,692,781
$ 370,619 $ 2,674,672 $ 1,694,242
104
Total
Law Nonmajor
Enforcement Governmental
Authority Fund Funds
$ $ 3,873,805
861,788
3,940
$ $ 4,739,533
40,759
216,248
20,900
140,016
417,923
3,940
2,624,889
1,692,781
4,321,610
$ $ 4,739,533
105
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, 2013
Conservation Public Health Solid Waste
Trust Fund Fund Fund
REVENUES:
Taxes:
Taxes
Intergovernmental
Charges for services
Miscellaneous
Total Revenues
EXPENDITURES:
Current:
Public Safety
Public health and welfare
Culture and recreation
Total Expenditures
450,659
2,408
453,067
406,648
406,648
$ - $
3,092,533
1,566,945
123,222
4,782,700
8,081,450
1,440,065
1,440,065
166,375
8,081,450 166,375
Excess of Revenues Over (Under)
Expenditures 46,419 (3,298,750) 1,273,690
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
4,169,382
592,909
4,169,382 (592,909)
46,419 870,632 680,781
324,200 1,387,578 1,012,000
$ 370,619 $ 2,258,210 $ 1.692,781
106
Law
Enforcement
Authority
Funds
$ 17,202
17,202
17,202
17,202
$
Total
Nonmajor
Governmental
Funds
$ 17,202
3,543,192
3,007,010
125,630
6,693,034
183,577
8,081,450
406,648
8,671,675
(1,978,641)
4,169,382
592,909
3,576,473
1,597,832
2,723,778
- $ 4,321,610
107
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, 2013
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
Total Other Financing Sources
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund balance at End of Year
Original Final
Actual
Variance
$ 7,200,000 $ 7,200,000 $ 7,177,768 $ (22,232)
7,200,000
100,000
300,000
7,600,000
7,200,000
100,000
300,000
7,600,000
15,983,198 28,866,394
15,983,198 28,866,394
4,500,000
4,500,000
(8,383,198) (16,766,394)
17,316,668
6,429 6,429
7,184,197
127,464
156,764
100,000
7,568,425
(15,803)
27,464
(143,236)
100,000
(31,575)
10,568,950 18.297,444
10,568,950 18.297,444
4,500,000
4,500,000
1,499,475 18,265;869
17,316,668 17,316,668
$ 8,933,470 $ 550,274 $ 18.816.143 $ 18,265.869
108
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, 2013
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
State lottery
Miscellaneous:
Earnings on deposits
Total Revenues
EXPENDITURES
Culture and Recreation:
Land improvements
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund balances at End of Year
$ 376,000 $ 376,000 $ 450,659 $ 74,659
3,500 3,500
379,500 379,500
2,408 (1,092)
453,067 73,567
406,647 406,647 406,648 (1)
406,647 406,647 406,648 (1)
(27,147) (27,147) 46,419
324,200 324,200 324,200
73,566
$ 297,053 $ 297,053 $ 370,619 $ 73,566
109
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, 2013
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
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
Non Departmental
Total Other Financing Sources
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balance at End of Year
Original Final
Actual
Variance
$ 3,039,624 $ 3,039,624 $ 3,092,533 $ 52,909
3,039,624 3,039,624 3,092,533
1,447,776 1,447,776
1,447,776 1,447,776
5,000
7,000
28,666
40,666
4,528,066
175,000
1,431, 783
4,049,638
2,727,414
313,613
8,697,448
5,000
7,000
28,666
40,666
1,566,945
1,566,945
9,545
91,312
22,365
123,222
4,528,066 4,782,700
175,000
1,431,783
4,049,638
2,637,014
313,613
182,809
1,202,472
3,918,706
2,543,477
233,986
8,607,048 8,081,450
8,697,448 8,607,048 8,081,450
4,169,382
4,169,382
4,169,382 4,169,382
4,169,382 4,169,382
90,400
1,387,578 1,387,578
870,632
1,387,578
52,909
119,169
119,169
4,545
84,312
(6,301)
82,556
254,634
(7,809)
229,311
130,932
93,537
79,627
525,598
525,598
780,232
$ 1,387,578 $ 1,477,978 $ 2,258,210 $ 780,232
110
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, 2013
Budgeted
Original Final Actual Variance
REVENUES
Landfill surcharge
Total Revenues
EXPENDITURES
Miscellaneous:
Solid waste
Total Expenditures
Other Financing Sources (Uses):
Transfers - Out:
General Fund
Health department
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balances at Beginning of Year
$ 730,000 $ 1,200,000 $ 1,440,065 $ 240,065
730,000 1,200,000
137,091 607,091
137,091 607,091
85,000
507,909
(592,909)
85,000
507,909
1,440,065 240,065
166,375 440,716
166,375 440,716
85,000
507,909
(592,909) (592,909)
680,781 680.781
1,012,000 1,012,000 1,012,000
Fund Balances at End of Year $ 1,012,000 $ 1,012,000 $ 1,692,781
680,781
111
COUNTY OF WELD
STATE OF COLORADO
Bebee Draw Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2013
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Specific ownership taxes
Penalties & Interest
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 13,454 $ 13,454 $ 13,168 $ (286)
1,000 1,000 800 (200)
(36) (36)
14,454 14,454
14,454 14,454
14,454 14,454
$ - $
13,932 (522)
13,932 522
13,932 522
112
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, 2013
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Specific ownership taxes
Penalties & Interest
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 1,472 $ 1,472 $ 1,472 $
100 100 180
6
1,572 1,572
1,572 1,572
1,572 1,572
$ - $
80
6
1,658 86
1,658 (86)
1,658 (86)
$ _ $
113
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, 2013
Budgeted
Original Final Actual Variance
REVENUES
Taxes:
General property taxes
Total Revenues
EXPENDITURES
Miscellaneous
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 1,427 $ 1,427 $ 1,612 $ 185
1,427 1,427
1,427 1,427
1,427 1,427
$
1,612 185
1,612 (185)
1,612 (185)
$
114
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, 2013
Budgeted
REVENUES
Intergovernmental:
State Grants
Total Intergovernmental
Miscellaneous:
Earnings on deposits
Miscellaneous
Total Miscellaneous
Total Revenues
EXPENDITURES
Rent assistance
Supplies
Depreciation
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
Actual
$ 2,590,572 $ 2,590,572 $ 2,552,813
2,590,572 2,590,572
2,590,572 2,590,572
2,319,314
269,859
2,319,314
269,859
2,589,173 2,589,173
1,399 1,399
$ 1,399
2.552,813
8,926
35,032
43,958
2,596,771
2,465,814
275,920
1,466
2;743,200
(146,429)
2,476,046
$ 1,399 $ 2,329,617
Variance
$ (37,759)
(37,759)
8,926
35,032
43,958
6,199
(146,500)
(6,061)
(1,466)
(154;027)
(147,828)
2,476,046
$ 2,328,218
115
COUNTY OF WELD
STATE OF COLORADO
E-911 Authority
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2013
Budgeted
Original Final Actual Variance
REVENUES
Miscellaneous:
Earnings on deposits
Charge for service
Miscellaneous
Total Revenue
EXPENDITURES
Personnel Services
Depreciation
Purchased services
Supplies
Total Expenditures
Net Change in Fund Balance
Fund Balances at Beginning of Year
$ 21,000 $ 21,000 $ 25,287 $ 4,287
2,250,000 2,250,000 2.485,200 235;200
5,054 5,054
2,271,000 2,271,000
4,000
475,816
1,075,481
97,339
475,816
1,079,481
97,339
1,652,636 1,652,636
2,515,541 244,541
388,979
917,871
71,653
86,837
161,610
25,686
1,378,503 274,133
618,364 618,364 1,137,038 (29,592)
5,240,594 5,240,594 5,240,594
Fund Balances at End of Year $ 5,858,958 $ 5,858,958 $ 6,377,632 $ (29,592)
116
hi
to
\ I f
f 8 T:
y y,
117
The public report burden for this information collection is estimated to average 380 hours annually.
Financial Planning 02/01
Form # 350-050-36
LOCAL HIGHWAY FINANCE REPORT
City or County: County
YEAR ENDING :
December 2013
This Information From The Records Of County of Weld:
Prepared By: Barbara Connolly
Phone: (970) 356-4000 X 4445
REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE
I. DISPOSITION OF HIGHWAY -USER
ITEM
1. Total rcccipts available
A. Local
Motor -Fuel
Taxes
PURPOSES
B. Local
Motor -Vehicle
Taxes
Ill. DISBURSEMENTS
C. Receipts from
State Highway-
User Taxes
FOR
D. Receipts from
Federal Highway
Administration
ROAD
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 . u . oses
II. RECEIPTS FOR ROAD AND STREET
AND STREET PURPOSES
ITEM
AMOUNT
ITEM
AMOUNT
A. Receipts from local sources:
A. Local highway disbursements:
1. Local highway -user taxes
1. Capital outlay (from page 2)
7,115,700
a. Motor Fuel (from Item I.A.S.)
2. Maintenance:
26,800,283
b. Motor Vehicle (from Item I.B.5.)
3. Road and street services:
c. Total (a.+b.)
a. Traffic control operations
2. General fund appropriations
5,000,000
b. Snow and ice removal
409,446
3. Other local imposts (from page 2)
16,333,898
c. Other
281,938
4. Miscellaneous local receipts (from page 2)
21,633,151
d. Total (a. through c.)
691,384_
2,586,364
5. Transfers from toll facilities
4. General administration & miscellaneous
6. Proceeds of sale of bonds and notes:
5. Highway law enforcement and safety
a. Bonds - Original Issues
6. Total (1 through 5)
37,193,731
b. Bonds - Refunding Issues
B. Debt service on local obligations:
c. Notes
1. Bonds:
d. Total (a. + b. _ c.)
0
a. Interest
7. Total (1 through 6)
42,967,049
b. Redemption
B. Private Contributions
c. Total a. + b.
U
C. Receipts from State government
(from page 2)
2. Notes:
12,146,248
a. Interest
D. Receipts from Federal Government
(from page 2)
b. Redemption
673,506
c. Total (a. + b.)
0
E. Total receipts (A.7 + B + C + D)
IV.
55,786,803
LOCAL HIGHWAY
(Show all entries
3. Total (I.c + 2.c)
0
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements (A.6 + B.3 + C + D)
37,193,731
DEBT STATUS
at par)
Opening Debt
Amount Issued
Redemptions
Closing Debt
A. Bonds Total
0
1. Bonds Refunding Portion
B. Notes (Total)
V. LOCAL ROAD AND STREET FUND BALANCE
A. Beginning Balance
B. Total Receipts r. Total Disbursementl
D. Ending Balance
E. Reconciliation
33,727,718
55,786,803
I 37,193,731 I 52,320,790
0
Notes and Comments:
FORM FHWA-536 (Rev. 1-05)
PREVIOUS EDITIONS OBSOLETE
1
(Next Page)
118
2013 Local Highway Finance Report.xls
LOCAL HIGHWAY FINANCE REPORT
STATE:
Colorado
YEAR ENDING (nun/yy):
December 2013
II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL
ITEM
AMOUNT
ITEM
AMOUNT
A.3. Other local im i osts:
I .. M 11: 1 .1 .
a. Property Taxes and Assessments
8 987,576
a. Interest on investments
38,743
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
e. Sale of Surplus
Property
4. Licenses
f. Charges for Services
1,570,237
5. Specific Ownership &/or Other
7,346322
g. Other Misc. Receipts
1,348,445
6. Total (1. through 5.)
7,346,322
h. Other
18,675,726
c. Total a. + b.
16,333,898
(Carry forward to page 1)
i. Total a. throu_h h.
21,633,151
(Carry forward to page 1)
ITEM
AMOUNT
ITEM
AMOUNT
C. Recei ' ts from State Government
D. Recei I ts from Federal Government
1. Hi _hwa -user taxes
9,719,239
1. FHWA (from Item I.D.5.)
2. State general funds
2. Other Federal agencies:
3. Other State funds:
a. Forest Service
359,254
a. State bond proceeds
b. FEMA
b. Project Match
c. HUD
c. Motor Vehicle Registrations
340,304
d. Federal Transit Admin
d. Other (Specify) - DOLA Grant
e. U.S. Corps of Engineers
e. Other (Specify)
2,086,705
f. Other Federal
314,252
f. Total (a. through e.)
2,427,009
g. Total (a. through f.)
673 506
4. Total 1. -1- 2. -1- 3.
12,146,248
3. Total 1. -1- 2. •
(Carr • forward to • a • e 1)
III. DISBURSEMENTS FOR ROAD AND STREET PURPOSES - DETAIL
A.1. Ca u ital outla :
a. Right -Of -Way Costs
ON NATIONAL
HIGHWAY
SYSTEM
a)
OFF NATIONAL
HIGHWAY
SYSTEM
b)
574,672
"I'O'I AL
(c)
574,672
b. En:ineerin: Costs
c. Construction:
4.189,225
4,189,225
0
(1). New Facilities
(2). Capacity Improvements
0
(3). System Preservation
2,351,803
2,351,803
(4). System Enhancement & Operation
0
(5). Total Construction (1) + (2) + (3) + (4)
0
2,351,803
2,351,803
d. Total Capital Outlay (Lines l.a. + 1.b. + 1.c.5)
0
7,115,700
7,115,700
(Carry forward to page 1)
Notes and Comments:
FORM FIIWA-536 (Rev.1-05)
PREVIOUS EDITIONS OBSOLETE
2
119
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Net Position
Internal Service Funds
December 31, 2013
Health
Motor Vehicle Insurance Insurance
Fund Fund Fund
ASSETS
Current Assets:
Cash and cash equivalents
Receivables (net of allowances for uncollectables):
Current property taxes
Delinquent property taxes
Accounts
Due from other county funds
Inventories
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
$ 989,137 $ 7,551,542 $ 3,572,220
1,037,615
5,949
97,181
2,129,882
1,131,815
17,500
2,048,377
39,684,100
(22,883,259)
19;998,533
5,833
2,025,210
6,370
403,543
7,557,375 6,007,343
$22;128,415 $ 7,557,375 $ 6,007,343
LIABILITIES DEFERRED INFLOWS AND NET POSITION
Current Liabilities:
Accounts payable
Accrued liabilities
Due to other county funds
Unearned revenues
Total Current Liabilities
Deferred Inflows of Resources:
Property Taxes
Total Deferred Inflows of Resources
$ 654,032
30,497
684,529
Total Liabilities and Deferred Inflows 684,529
Net Position
Invested in capital assets
Restricted for:
Insurance Claims
Unrestricted
Total net position
19,998,533
1,445,353
$ 38,255 $ 228,986
2,547,177 1,692,961
5;115
1,336,426
3,921,858 1,927,062
2,035,238
2,035,238
3,921,858 3,962,300
3,635,517 2,045,043
$21,443,886 $ 3,635,517 $ 2,045,043
120
Phone Services
Fund
$ 1,106,012
18,819
1,124,831
1,482,682
(1,011,218)
471,464
$ 1,596,295
$ 4,575
19,425
24,000
24,000
471,464
1,100,831
Total Internal
Service Funds
$13,218,911
2,025,210
6,370
1,062,267
5,949
97,181
403,543
16,819,431
1,131,815
17,500
2,048,377
41,166, 782
(23,894,477)
20,469,997
$37,289,428
$ 925,848
4,259,563
35,612
1,336,426
6,557,449
2,035,238
2,035,238
8,592,687
20,469,997
5,680,560
2,546,184
$ 1,572,295 $28,696,741
121
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Revenues, Expenses and Changes in Net Position
Internal Service Funds
For the fiscal year ended December 31, 2013
Operating revenues:
Employer & Employee 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
Miscellaneous
Interest income
Grants
Gain (loss) on disposition of assets
Judgements and damages
Interest expense
Total nonoperating revenues (expenses)
Income (loss) before contributions and transfers
Transfers in
Changes in net assets
Total net position - beginning
Total net position - ending
Motor Vehicle
Fund
9,097,640
9,097,640
2,496,603
4,152,008
3,363,116
190,084
10,201,811
(1,104,171)
3,949
1,372,535
241,694
5,115
1,623,293
519,122
400,000
919,122
20,524,764
$ 21,443,886
Health Insurance
Fund
Insurance Fund
$ 15,079,777 $
818 71,652
15,080,595
8,070
1,330,975
10,332
11,663,678
71,652
3,072
38,652
500,025
1,665,093
13,013,055 2,206,842
2,067,540 (2,135,190)
2,067,540
2,067,540
1,567,977
1,997,895
31,255
126,487
2,155,637
20,447
20,447
2,024,596
$ 3,635,517 $ 2,045,043
122
Phone Services Total Internal
Fund Service Funds
1,209,188
$ 15,079,777
10,379,298
1,209,188 25,459,075
179,505
19,120
791,084
257,270
49,751
179,505
2,526,865
6,312,719
500,025
3,620,386
250,167
13,328,771
1,296,730 26,718,438
(87,542) (1,259,363)
1,997,895
3,949
31,255
1,372,535
241,694
131,602
3,778,930
(87,542) 2,519,567
400,000
(87,542)
1,659,837
$ 1,572,295
2,919,567
25,777,174
$ 28,696,741
123
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Internal Service Funds
For the fiscal year ended December 31, 2013
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
Cash and Cash Equivalents at End of Year
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
Motor Vehicle
Fund
Health Insurance
Fund
195,626
8,735,379 15,236,723
(6,694,455) (12,803,001)
(181,106) (4,919)
5,115
3,949
2,064,508
400,000
265,026
665,026
(5,703,945)
294,642
(5,409,303)
(2,679,769)
3,668,906
989,137
(1,104,171)
3,363,116
5,115
3,949
37,932
(5,949)
6,208
(41,321)
(200,371)
3,168,679
2,064,508
29,487
2,428,803
2,428,803
5,122,739
7,551,542
2,067,540
(5,834)
1,500
1,473
213,853
(700)
150,971
361,263
2,428,803
Insurance Phone Service Total Internal
Fund Fund Service Funds
- 77,359 272,985
76,767 1,149,968 25,198,837
(2,527,623) (661,101) (22,686,180)
- (94,177) (280,202)
- (229,564) (229,564)
126,487 - 131,602
- - 3,949
(2,324,369) 242,485 2,411,427
1,995,122
1,995,122
400,000
265,026
1,995,122 - 2,660,148
(70,145) (5,774,090)
294,642
(70,145) (5,479,448)
33,091 - 33,091
(296,156) 172,340 (374,782)
3,868,376 933,672 13,593,693
3,572,220 1,106,012 13,218,911
(2,135,190) (87,542) (1,259,363)
- 257,270 3,620,386
126,487 - 131,602
- - 3,949
4,537 7,024 43,659
- 9,990 4,041
- - 7,708
(403,543) 53,256 (348,814)
81,850 3,278 43,807
912 (791) 213,974
5,115 - (195,956)
(4,537) - 146,434
(189,179)
330,027 3,670,790
(2,324,369) 242,485 2,411,427
29,487
125
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Changes in Assets and Liabilities
Fiduciary Funds
For the fiscal year ended December 31, 2013
Balance Balance
1/1/2013 Additions Deductions 12/31/2013
GENERAL AGENCY FUND
Assets:
Cash and investments
Total Assets
Liabilities:
Accounts payable
Due to other governments
Total Liabilities
PAYROLL AGENCY FUND
Assets:
Cash and investments
Accounts receivable
Total Assets
Liabilities:
Accounts payable
Total Liabilities
EMPLOYEE FLEXIBLE SPENDING
Assets:
Cash and investments
Accounts receivable
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
$ 6,230,213 $ 350,003,565 $ 351,071,015 $ 5,162,763
$ 6,230,213 $ 350,003,565 $ 351,071,015 $ 5,162,763
$ 25 $ 60,600 $ 60,625 $
6,230,189 349,827,567 350,894,993
5,162,763
$ 6,230,214 $ 349,888,167 $ 350,955,618 $ 5,162,763
$ 103,929 $ 27,460,666 $ 27,358,449 $ 206,146
18,025 41,986 59,308 703
$ 121,954 $ 27,502,652 $ 27,417,757 $ 206,849
$ 121,954 $ 28,827,071 $ 28,742,176 206,849
$ 121,954 $ 28,827,071 $ 28,742,176 $ 206,849
$ 50,987 $ 735,084 $ 735,032 $ 51,039
46 - 46
$ 51,033 $ 735,084 $ 735,078 $ 51,039
$ 51,032 $ 51,039 $ 51,032 51,039
$ 51,032 $ 51,039 $ 51,032 $ 51,039
$ 6,385,129 $ 378,199,315 $ 379,164,496 $ 5,419,948
$ 18,071 41,986 59,354 703
$ 6,403,200 $ 378,241,301 $ 379,223,850 $ 5,420,651
$ 173,011 $ 28,938,710 $ 28,853,833 $ 257,888
6,230,189 349,827,567 $ 350,894,993 5,162,763
$ 6,403,200 $ 378,766,277 $ 379,748,826 $ 5,420,651
126
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 December 31, 2013
Budgeted
Operating Revenues:
Charges for Service
Total Operating Revenues
Operating Expenses:
Personnel services
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues:
Federal grant
Fees
Total Nonoperating Revenues
Income(loss) before contributions and transfers
Net Income (Loss)
Net Position at Beginning of Year
Net Position at end of Year
Original Final
Actual
$ 15,200 $
15,200
5.000
10,200
15,200
$ - $
6,096
63,092
2,810
71,998
(71,998)
71,998
71,998
Variance
(15,200)
(15,200)
(1,096)
(52,892)
(2,810)
(56,798)
(71,998)
71,998
71 998
$
127
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, 2013
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):
Miscellaneous
Grants
Gain (loss) on disposition of assets
Judgements and damages
Total Nonoperating Revenues(Expenses)
Income(Loss) before contributions and transfers
Transfers in
Net Income (Loss)
Net Position at Beginning of Year
Net Position at End of Year
Original Final
$ 4,500,000 $ 5,537,500
2,850,000 2,850,000
7.350.000 8,387,500
2.421,000
2,946,857
2,850,000
100,000
8.317,857
(967,857)
510.000
470.000
980,000
12,143
12.143
20, 524, 764
20,536,907
2,421,000
3,957,714
2,850,000
100,000
9,328,714
(941,214)
925,000
470,000
1,395,000
453,786
(400,000)
53,786
20, 524, 764
$ 20, 578, 550
Actual
$ 5,756,018
3,341,622
9,097,640
2,496,603
4,152,008
3,363,116
190,084
10,201,811
Variance
218,518
491,622
710.140
(75,603)
(194,294)
(513,116)
(90,084)
(873,097)
(1,104,171) (162,957)
3,949
1,372,535
241,694
5,115
1,623,293
519,122
400,000
919,122
20,524,764
$ 21,443,886
3,949
447;535
(228,306)
5,115
228,293
65,336
800.000
865.336
865,336
128
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, 2013
Budgeted
Operating Revenues:
Employer & Employee Premiums
Operating Expenses:
Supplies
Purchased services
Other
Claims
Total Operating Expenses
Operating Income (Loss)
Net Income (Loss)
Net Position at Beginning of Year
Net Position at End of Year
Original Final
Actual
Variance
$ 16,800,000 $ 16,800,000 $ 15,080,595 $ (1,719,405)
64.000
673,912
1,468,396
14,593,692
16,800,000
1,567,977
64,000
673,912
1,468,396
14,593,692
16, 800, 000
1,567,977
8,070
1,330,975
10,332
11,663,678
13,013,055
2,067,540
2,067,540
1,567,977
55,930
(657,063)
1,458,064
2,930,014
3,786,945
2.067,540
2,067,540
$ 1,567,977 $ 1,567,977 $ 3,635,517 $ 2,067,540
129
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, 2013
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Supplies
Purchased services
Insurance and bonds
Other
Claims
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
Taxes
Penalties & interest
Interest income
Judgments and damages
Total Nonoperating Revenues (Expenses)
Net Income (Loss)
Net Position at Beginning of Year
Original
$ 145,000
3.500
40,200
850,000
500
1,320,800
2.215,000
(2.070,000)
2,000,000
50.000
20.000
2.070,000
2.024.596
Final
$ 145,000
3,500
40,200
850,000
500
1,320,800
2,215,000
(2,070,000)
2,000,000
50,000
20,000
2,070,000
2,024,596
Actual
Variance
$ 71,652 $ (73,348)
3,072
38,652
500,025
1,665,093
2,206,842
(2,135,190)
1,996,059
1,836
31,255
126,487
2,155,637
20,447
2,024,596
428
1,548
349,975
500
(344,293)
8,158
(65,190)
(3,941)
1,836
(18,745)
106;487
85,637
20,447
Net Position at End of Year $ 2,024,596 $ 2,024,596 $ 2,045,043 $ 20,447
130
COUNTY OF WELD
STATE OF COLORADO
Phone Service Fund
Schedule of Revenues. Expenses and
Changes in Net Position - Budget and Actual
For the fiscal year ended December 31, 2013
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Personnel services
Supplies
Purchased services
Depreciation
Other
Total Operating Expenses
Operating Income (Loss)
Net Income (Loss)
Net Position at Beginning of Year
Original
Final
Actual
Variance
$ 1.354.772 $ 1,354,772 $ 1,209,188 $ (145,584)
182.778
14,100
878,141
230,000
49,753
1.354,772
1.659,837
182,778
14,100
878,141
230,000
49,753
179,505
19,120
791,084
257,270
49,751
1,354,772 1,296,730
(87,542)
(87,542)
1,659,837 1,659,837
3,273
(5,020)
87,057
(27,270)
2
58,042
(87,542)
(87,542)
Net Position at End of Year $ 1,659,837 $ 1,659,837 $ 1,572,295 $ (87,542)
131
hi
to
\ I f
f 8 T:
y y,
132
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 Page
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 Information
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 data to help the
reader understand how the information in the government's financial
report relates to the services the government provides and the acitivities
it performs.
134
140
147
151
156
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
133
COUNTY OF WELD
STATE OF COLORADO
Net Position by Component
Last Ten Years
(accrual basis of accounting)
Fiscal Year
2004 2005 2006 2007 2008
Governmental activities
Invested in capital assets, net of related debt
Restricted for
Programs
Emergencies
Claims
Public Works
Other
Unrestricted
Total governmental activities net position
S 238.640,911 $ 231,271,356 $ 233,626.280 S 249.237,323 $ 253,009,697
4,199, 374
3,500,000
1,748,949
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
4,033,041
5,000,000
1,270,613
30,759,296 39,782,093 48,545.826 40.122,962 37,397,773
278,848,530 281,498,089 291,874,507 300,097,258 300,711,124
Business -type activities
Invested in capital assets, net of related debt S 864.425 $ 809,643 $ 852,705 S 987.445 $ 1,076,125
Unrestricted (4.761) 1,508,322 2,118.077 2.191,453 2,776,179
Total business -type activities net position S 859.664 $ 2.317.965 $ 2.970.782 S 3.178.898 $ 3.852.304
Primary government
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total primary government net position
S 239,505,336 $ 232,080,999 $ 234,478,985 S 250,224,768 $ 254,085,822
9,448,323 10,444,640 9,702,401 10,736,973 10,303,654
30.754,535 41,290,415 50,663.903 42.314,415 40,173,952
S 279.708.194 $ 283.816.054 $ 294.845.289 S 303.276.156 $ 304.563.428
2009
S 256,826,307
4,524,110
6,000,000
2,270,613
40,819,002
310,440,032
2010
$ 254,893,784
4,912,503
6,000,000
4,734,410
66,081,025
336,621,722
2011
$ 252,365,188
5,360,845
6,000,000
4,734,409
74,131.389
2012
5 260,630,887
6,197, 551
6,000,000
4,734,409
39,542,250
1.000.426
50.626,441
342.591,831 368,731,964
2013
$ 270,069,712
5,736,608
6,000,000
4,734,408
63,934,016
1,485,431
58,827,919
S 1,011,224 $ 1,305,614 $ 1,524.148 S - $
2.478,408 3,194,266 3,526.143 - (1,323)
L.3,21&32 Si $ 5.050.2U S - $ (1,323)
410,788,094
S 257,837,531 $ 256,199,398 $ 253,889,336 S 260,630,887 $ 270,069,712
12.794,723 15,646,913 16,095.254 57,474,636 81,890,463
43.297,410 69,275,291 77,657.532 50.626,441 58,826,596
S 313,929.61 $ 341,121.602 $ 347.642.122 S 368,731,964 $ 410,786,771
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Position
Last Ten Years
(accrual basis of accounting)
2004 2005 2006 2007 2008
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 activities:
Paramedic service
Crime Lab
$ 21,174,906 $ 23,047,725 $ 26,641,373 $ 35.301,327 $ 31,019,065
28,425,957 30,449,441 32,562,998 36,717,165 40,496.490
32,688,807 36,919,372 37,068,628 34.637,731 40,795,016
23,538,421 24,843,147 26,179,807 31,026,419 35,117,225
1,005,697 771,295 1,549,379 1.008,703 1,077.743
12,646,785 13, 736,745 11, 747, 943 14,403,662 14, 601, 330
358,054 340,411 322,293 335,771
119,838.627 130,108,136 136,072,421 153,430,778 163,106, 869
9,738,148
6371,413 7,156,700
8.444,840 9.289.761
Total primary government expenses $ 129,576,775 $ 136,479,549 $ 143,229,121 $ 161,875,618 $ 172,396,630
Program Revenues
Governmental activities:
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
Crime Lab
Total primary government revenues
Net (Expenses)/Revenue
Governmental activities
Business -type activities
Total primary government net
$ 8,086,983 $ 9,792,423 $ 12,265,623 $ 10.043,033 $ 11,681,170
7,609,527 5,430,422 6,378,749 4,998,285 5,814.979
1,157,634 3,433,713 4,023,310 3.566,774 3,518.926
12,699,858 13, 664,206 14,949, 936 17, 504, 660 19, 870, 091
309,948 333,293 345,990 453,352 468.488
862,223 1,156,012 1,186,129 838,871 756,698
27,124,685 27,885,047 30,045,943 36,500,297 33,134,702
- - 4,738,627 25.454
57,850,858 61,695,116 69,195,680 78,643,899 75,270,508
10,035,874 7,829,714 7,809,516 8.652,955 9.113.166
67,886.732 69,524,830 77,005,196 87.296,854 84,383,674
(61,987,769) (68,413,020) (66,876,741) (74,786,879) (87,836,361)
297,726 1,458,301 652,816 208,115 (176,595)
$ (61,690,043) $ (66,954,719) $ (66,223,925) $ (74,578,764) $ (88.012,956)
General Revenues and Other Changes in Net Position
Governmental activities:
Taxes:
Property taxes $ 50,785,919 $ 56,382,533 $ 62,124,792 $ 67,215,993 $ 72,735,158
Specific Ownership 6,795,897 6,627,991 6,614,819 7,056,071 7,035,189
Other 3,333,336 3,733,025 5,266,786 3,546,134 5,454,324
Royalties
Miscellaneous
Unrestricted investment earnings 1,644,979 2,679,442 4,539,172 5,191,430 4,075,554
Donated capital assets 0 355,784 7,602 -
Gain on sale of capital assets (2,358,185) - - -
Transfers - - (1,300,0001 (850.0001
Total governmental activities 60,201,946 69,778,775 77,253,171 83.009,628 88,450,225
Business -type activities:
Paramedic service (5,611) 850.000
Crime Lab - - -
Total primary government $ 60,196,335 $ 69,778,775 $ 77,253,171 $ 83,009,628 $ 89,300,225
Change in Net Position
Governmental activities
Business -type activities
Total primary government
$ (1,785,823) $ 1,365,755 $ 10,376,430 $ 8,222,749 $ 613,864
292,115 1,458,301 652,816 208,115 673.405
$ (1,493,708) $ 2,824,056 $ 11,029,246 $ 8,430,864 $ 1.287,269
2009
$ 31.738,352
40,649,718
31.123,536
39,882,326
1.013,683
15.546,027
159,953,642
9.310,991
2010
$ 31,497,117
40, 551,255
34,662.990
37,946,589
1,215,481
9,262,302
155,135,734
6.349.218
2011
$ 31,930,407
42,613,038
37,519,293
35,881, 864
1,123,268
8,115,722
157.183,592
5,964.112
2012
$ 34,789,583
44,263,029
37,220,963
36,968,434
1,290,618
7,302,875
161,835.502
2,846,859
2013
$ 43,436,041
47,925,745
39,953,729
39,341,405
1,521,540
7,932,382
180.110,842
73,321
$ 169,264,633 $ 161,484,952 $ 163.147,704 $ 164,682.361 $ 180.184,163
$ 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
84.375,672
$ 10,117,110
7,021.139
1,932.790
21,311,474
549,483
834,429
27,858.758
69.625,183
5.859.468
$ 12,644.748
6,023,109
2,022,037
19,360,887
619,316
822,309
24,034,211
$ 11,580.340
7,406,430
3,439,523
21,865,091
725,868
381,199
23,821,017
65.526.617 69,219.468
6,514.522 1,954,205
75.484,651 72,041.139 71,173,673
$ 12,593.578
9,151,431
4,473,145
23,919, 388
928,631
493,180
32,235, 512
83,794.865
71,998
83,866.863
(83,141,288) (85.510,551) (91,656.975) (92,616,034) (96,315.977)
(1.747,673) (489.750) 550,410 (892,654) (1,323)
$ (84,888,961) $ (86.000.301) $ (91,106.565) $ (93,508,688) $ (96,317.300)
$ 75,047,892
6.167, 691
3.472,065
1.707,235
5.468,676
2.391,636
$ 95,251,609
6,018.849
845.578
2,556,866
6,415.403
2,103.942
(1.385,000) (1.500,0001
92.870,195 111.692,247
1.385,000
1.500.000
$ 76,808.723
5,743,784
1,794,415
7,169,988
4,305,446
1,804,728
97,627.084
$ 94.255,195 $ 113.192,247 $ 97,627,084
$ 9.728,907 $ 26.181,696 $
(362.673) 1.010.250
$ 9,366,234 $ 27.191,946 $
$ 88,229.134
7,302,111
2,410,032
12,083,892
3,231,877
1,341,489
4,157,638
118,756.173
(4,157,638
114,598,535
$ 105.940.567
7,347,302
2,291,667
17,325,773
4,285,545
1,181,245
138.372.099
138,372,099
5,970.109 $ 26,140.139 $ 42,056.122
550,410 (5,050,292) (1,323)
6,520.519 $ 21,089.847 $ 42,054.799
137
COUNTY OF WELD
STATE OF COLORADO
Fund Balances of Governmental Funds
Last Ten Years
(modified accrual basis of accounting)
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 *
2004 2005
2006
2007
2008
$ 1,516,298 $ 1,486,188 $ 946,073 $ 1,081,217 $ 1,161,271
$ 6,699,941 $ 7,648,920 $ 10,630,592 $ 7,007,528 $ 10,645,617
$ 8,216,239 $ 9,135,108 $ 11,576,665 $ 8,088,745 $ 11,806,888
$ 4,139,435 $ 8,834,511 $ 19,019,004 $ 12,074,704 $ 12,631,501
25, 360, 820
697,779
26,155,751 25,281,236 27,791,990
3,511,495 0 272,790
25,032,274
(2.064,635)
Total for all governmental funds $ 38.414,273 $ 47,636,865 $ 55,876,905 $ 48,228,229 $ 47,406,028
* Difference in fund balance presentation is due to implementation of GASB 54 in 2011
2009 2010 2011 2012 2013
$ 846,808 $ 1,882,253
$ 9,960,565 $ 9,967,335
$ 10,807,373 $ 11,849,588
$ 9,861,718 $ 7,138,513
32,475,341
1,617,052
57,755,218
6,362,877
$ 687,239 $ 1.216.973 $ 677,240
6,000,000 6.863.582 7,114,812
1,927,404 2.305.309 2,089,993
1,808,529 615.428 11, 527, 256
10,691,668 10.126.783 165,207
$ 21,114,840 $ 21.128.075 $ 21.574.508
$ 963,566 $ 1.020.322 $ 1,321,279
36,493,043 40.377.056 57,704,336
32,295,274 46.347.303 55,508,238
$ 54,761,484 $ 83,106,196 $ 90,866,723 $ 108.872.756 $ 136.108.361
COUNTY OF WELD
STATE OF COLORADO
Changes in Fund Balances, Governmental Funds
Last Ten Years
(modified accrual basis of accounting)
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
Debt Service as a percentage of noncapital expenditures
2004
S 57,698,294
1,834,849
40,652,682
69,538
7,345,819
5,329,931
7,454,831
2005
$ 63,261,095
2,119,419
41;110,202
204.530
8.618.819
7,582.510
8.175.907
2006
$ 69,178,181
3,188,354
44,982,577
135,908
8,232,213
13,377,598
8,602,079
2007
$ 74.627,631
2,129, 731
53;886,023
416.668
7.800.131
9,567.707
8.061.587
2008
$ 80,182,212
2,089,925
52,887,281
295,246
8,898,865
12,523,751
7,845,617
120, 385, 944 131,072,482 147,696,910 156,489,478 164,722,897
20,566, 315
27,475, 345
22,734,695
23,046,109
1,007,208
12,450,198
6,923,230
358,054
22.384,671
29.834,629
25.490,667
24,284,817
775.903
13.572,861
5.165.931
340,411
25, 366, 204
31,881,427
26,315,156
25,993,962
1,550,929
11,746, 242
14,980,649
322,293
32.605,930
35,945,956
31.798,757
30.940,641
1.011,311
14.449,197
17.050,592
335,771
29,061,657
38,564,419
36,643,514
34,585,229
1,077,592
14,459,482
9,883,207
114, 561,154 121,849,890 138,156, 862 164,138,155 164,275,100
5,824,790 9.222.592
9,540,048 (7.648.677)
447,797
4,299,153 7.436,144 11,309,847 4.340.010 4,914,085
4,299,153 7.436.144 12,609,847 4.340.010 6,184,085
(1,300,000)
(1,270,000)
5,824,790 $ 9.222.592 $ 8,240,048 $ (7.648.677) S (822.203)
0.33% 0.29% 0.26% 0.23% 0.00%
140
2009
$ 84,642,477
1,467,282
61,100,082
323,411
8,939,683
7,132,908
7,546,475
171,152,318
28,311,209
38,668,759
29,595,637
39,287,986
1,014,422
14,622,541
9,911,307
161,411,861
9,740,457
2010 2011
$ 102.079.791
2,512,999
53,021;343
587.330
7,771.230
8.133, 573
8.827.457
$ 84,310,617
2,093,316
44,670,251
441,455
6,899, 382
15,397,352
9,445,288
182.933.723 163,257, 661
29.608.752
38,176,653
28, 524,940
36,850.368
1,214,300
9,086.301
8,627.695
30,964,059
40,657,128
30,834,148
35,187,959
1,127,873
7,880,482
7,795,485
2012
$ 97.903.945
2,968,095
45,601,958
319.091
7,781,755
18.968.975
10.392.181
183.936.000
31.777.518
43,328,129
37,843.853
36,852.403
1,291,707
7.400.591
7.589.459
152.089.009 154,447,134 166.083.660
30.844.714 8,810,527
7,583,632 7,157,161
9,968,632 9.657.161
(2,385,000)
15,807,328
16,857,328
(2,500.000) (1,050,000)
17.852.340
11,194,959
11.041.260
153.699
2013
$ 115,265,284
3,341,876
51,914,959
342,566
9,950,307
24,954,352
11,297,773
217,067,117
41,768,976
46,865,987
39,780,662
39,351,351
1,529,749
7,990,367
12,144,427
189,431, 519
27,635,598
13,770,733
14,170,733
(400,000)
$ 7.355.457 $ 28.344.714 $ 7.760.527 $ 18.006.039 $ 27.235,598
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
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Vacant
Land
105,868,950
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
Residential
Property
851,446,760
972,251,070
1,051,061,180
1,218,082,640
1,258,374,790
1,147,417,980
1,161,670,030
1,110,455,180
1,126,143,600
1,125,171,520
Commercial Industrial
Property Property Agricultural
448,526,350 153,747,260 158,581,990
507,867,420 155,227,960 172.592,990
538.352,810 194,235,560 175,708,230
631,036,750 214,051,130 96,371,890
654;957,800 216,214,910 97,874,960
703,405,460 281,991,090 100,747,790
713,727,230 338,066,670 100,999,290
700.148,970 343,525,350 117,189,830
741.004,020 405,141,700 120,086,240
717,135,660 444,712,190 141,969,440
Source: Office of the Weld County Assessor
Note:
Natural
Resources
10,115,440
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
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.
142
Oil & Gas
969,984,640
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
State
Assessed
295,147,000
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
Total Taxable
Assessed Value
2,993,418,390
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
Estimated
Actual
Taxable Value
16,596,579,600
19,255,338,644
21,011,080,893
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
Total Direct
Tax Rate
Assessed
Value as a
Percentage of
Actual Value
21.474 18.036%
19.957 18.776%
17.900 20.008%
16.804 19.686%
16.804 19.376%
16.804 24.038%
16.804 20.303%
16.804 24.369%
16.804 25.588%
16.804 21.048%
COUNTY OF WELD
STATE OF COLORADO
Property Tax Rates Direct and Overlapping Governments
Last Ten Years
General
Levy Year Government Road & Bridge Public Welfare Contingent Capital Insurance
Tota Direct
County
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
15.791
13.909
12.321
11.487
11.736
11.842
11.389
10.479
10.476
11.788
2.010 2.013
2.002
1.847
1.668
1.647
1.613
1.498
1.303
1.303
1.639
1.772
1.551
1.333
1.293
1.266
1.965
1.863
1.864
1.203
0.523 0.916
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
0.221
0.251
0.277
0.298
0.336
0.329
0.322
0.326
0.326
0.285
21.474
19.957
17.900
16.804
16.804
16.804
16.804
16.804
16.804
16.804
Overlapping Rates
Levy Direct City of School Aims Weld
Year County Greeley District 6 College Library
2004 21.474 11.274 46.453 6.322 3.249
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 6.302 3.261
The basis for the property tax rates is per 51,000 assessed valuation.
Source: Office of the Weld County Assessor.
144
COUNTY OF WELD
STATE OF COLORADO
Principal Property Taxpayers
Current Year and Nine Years Ago
Noble Energy Inc
Kerr-McGee Oil & Gas Onshore LP
Petroleum Development Corp
Public Service Company of Colorado (XCEL)
Encana Oil & Gas (USA) Inc
DCP Midstream LP
Bonanza Creek Energy Inc
Kerr McGee Gathering LLC
EOG Resources Inc
Vestas Blades America Inc
Kerr-McGee Rocky Mountain Corp
Patina Oil & Gas Corporation
Eastman Kodak Company
Merit Energy
Duke Energy Field Services Inc
Prima Oil & Gas
Source:
Weld County Assessor
2013
Taxable
Assessed
Value
$ 1,551,265,612
1,129,933,753
270,406,669
239,660,400
203,241,512
147,155,680
121,795,457
105,314,600
84,574,816
64,687,420
$ 3,918,035,919
Percent
Of Total County
Taxable
Assessed
Rank Value
1
2
3
4
5
6
7
8
9
10
21.79%
15.87%
3.80%
3.37%
2.85%
2.07%
1.71%
1.48%
1.19%
0.91%
2004
Taxable
Assessed
Value Rank
40,358,480
101,246.200
78,768,780
6
3
4
33,150.100 9
345,574.340
298,148.540
37,486.180
40,564.600
31,004.620
34,999.910
55.04% S 1.041,301;750
1
2
7
5
10
8
Percent
Of Total County
Taxable
Assessed
Value
1.35%
3.38%
2.63%
11.54%
9.96%
1.25%
1.36%
1.04%
1.17%
34.79%
145
COUNTY OF WELD
STATE OF COLORADO
Property Tax Levies and Collections
Last Ten Years
Levy Collect
Year Year
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Taxes Levied
for the
Fiscal Year (1)
53,414,937
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
Collected within the
Ficsal Year of the Levy
Tax Percent
Amount (2) of Levy
53,094,454
59,395,927
64, 580,198
70, 575,408
74, 877,199
75,903,359
96,736,465
78,833,201
91,202,627
108,593;650
99.400%
99.425%
99.793%
99.904%
99.719%
98.930%
99.757%
99.790%
100.103%
99.215%
Collections
in Subsequent
Years (3)
(230,263)
210,799
58,767
327,098
167,705
159,944
235,955
167,862
Total Collections to Date
Tax Percent
Amount (3) of Levy
52, 864,191
59,606,726
64,638,965
70,643,162
75,044,904
76,063,303
96,972,420
79,001,063
91,202,627
108, 593,650
Source:
1) Office of the Weld County Assessor
2) YTD Treasurer's Tax Distribution
3) YTD Treasurer's Tax Distribution 2001 forward. Negative values reflect subsequent rebates and adjustments.
98.969%
99.777%
99.884%
100.000%
99.943%
99.139%
100.000%
100.002%
100.103%
99.215%
146
COUNTY OF WELD
STATE OF COLORADO
Direct and Overlapping Governmental Activities Debt
December 31, 2013
Jurisdiction
Cities & Towns
Schools
Special Districts
Total Overlapping
Net General
Obligation
Bonded Debt
Outstanding
$ 60,162,704
845,277,604
145,837,669
Percentage
Applicable to
Government (1)
89.48%
49.91%
68.24%
Amount
Applicable to
Government (2)
$ 53,833,995
421,860,151
99,520,018
$ 1,051,277,977 $ 575,214,164
Source: Debt outstanding provided by each governmental unit.
Note:
(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
jursidictions debt by the percentage of the jurisdiction's area inside and outside
the County.
147
COUNTY OF WELD
STATE OF COLORADO
Legal Debt Margin Information
Last Ten Years
Legal Debt Margin Calculation for Fiscal Year 2013
Assesed Value, 2013
Debt Limit 3 percent of Assesed Value
Total Bond Debt
Installment Purchase Agreements
$0
0
Total Amount of debt applicable to limit
Legal Debt Margin
Legal Debt Margin Information
Last Ten Fiscal Years
$ 7,118,834,517
213,565,036
0
$ 213,565,036
Debt limit
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to the limit
as a percentage of debt limit
2004
$89,802,552
2005 2006 2007
$108,459,755 $126,118,475 $134,053,874
$89,802.552 $108,459,755 $126,118.475 $134,053,874
0.00% 0.00% 0.00% 0.00%
Note:
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.
2008 2009
2010
2011
2012
$136,974,703 $173,123,816 $141,036,269 $162,655,885 $195,404,498
$136,974,703 $173,123,816 $141,036,269
0.00% 0.00% 0.00%
$162,655.885
0.00%
$195.404,498
0.00%
2013
$213,565,036
$213.565,036
0.00%
COUNTY OF WELD
STATE OF COLORADO
Private Purpose Revenue Bonds
December 31, 2013
INDUSTRIAL REVENUE BONDS:
ISSUER
Centennial Area
Health Education Central
GSSLB Association
Nursing Home
Greeley Center for
Independence, Inc
Office
DEBT
TYPE OF ISSUE OUTSTANDING
FACILITY AMOUNT DATE BEGINNING OF YEAR ISSUED RETIRED
388,000 5/99 S186,148 0 21.520
2,020;000 10/98 975,000 0 60,000
Nursing Home
Therapeutic 1,650,000 9/03
Center
North Range Behavioral Health Office 4,500,000 5/07
TOTAL PRIVATE PURPOSE REVENUE BONDS
1,051,297
2,883,770
$5,096.215
0 1,051,297
0 134.400
$0 31.267,217
REVENUE BOND
OUSTANDING
END OF YEAR
S164,628
S915,000
$0
$2,749.370
$3,828.998
150
COUNTY OF WELD
STATE OF COLORADO
Demographic and Economic Statistics
Last Ten Years
Year Population
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
217,652
221,957
229,377
236,908
244,515
251,220
252,825
254,759
263,691
263,691
Total
Personal Income Per
($ billion) Capita Income
5.38
5.79
5.84
6.23
6.66
7.38
7.07
6.93
7.76
8.35
25,274
25,968
25,495
26,280
27,238
27,788
28,503
27,186
25,233
29,986
Unemployment
Rate
5.40%
5.00%
3.80%
4.63%
6.30%
8.16%
9.80%
9.10%
8.70%
6.70%
Source: Upstate Colorado in cooperation with University of Northern Colorado
and the State of Colorado demographer.
151
COUNTY OF WELD
STATE OF COLORADO
Principal Employers
Current Year and Nine Years Ago
JBS Swift Beef Company
Banner Health (NCMC)
State of Colorado (includes UNC )
School District 6
State Farm Insurance Companies
Weld County Government
AIMS Community College
Vestas
City of Greeley
Halliburton Energy Services Inc
StarTek Inc
Eastman Kodak Company
Total Principal Employers
Other Employers
Total County Employment
Source: Upstate Colorado
2013
Percent
Of Total County
Employees Rank Employment
4619
3000
3811
2400
1828
1413
872
870
812
800
20,425
109.245
129,670
1
2
3
4
5
6
7
8
9
10
3.56%
2.31%
2.94%
1.85%
1.41%
1.09%
0.67%
0.67%
0.63%
0.62%
15.75%
84.25%
100.00%
2004
Percent
Of Total County
Employees Rank Employment
3000 1
1866 5
1925 4
2180 3
2340 2
1389 8
1596 7
930 9
840 10
1650 6
17,716
79,346
97,062
3.09%
1.92%
1.98%
2.25%
2.41%
1.43%
1.64%
0.96%
0.87%
1.70%
18.25%
81.75%
100.00%
hi
to
\ I f
f 8 T:
y y,
153
COUNTY OF WELD
STATE OF COLORADO
:ull-Time Equivalent County Government Employees by Function/Progran
Last Ten Years
2004 2005 2006 2007 2008
Function/Program
General government 241 247 256 258 269
Public safety (1) 267 275 279 308 352
Public works 155 139 167 167 165
Health and welfare(2) 258 286 305 337 357
Culture and recreation 2 1 1 1 1
Economic assistance (3) 161 181 166 173 148
Total General Government 1,084 1,129 1,174 1,244 1,292
Business -type activities:
Paramedic service (4) 57 62 63 67 74
Total primary government 1,141 1,191 1,237 1,311 1,366
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.
2009 2010 2011 2012 2013
247 244 251 239 243
365 345 351 357 432
163 161 161 164 179
372 378 368 380 374
1 2 2 2 2
144 78 73 79 89
1,292 1,208 1,206 1,221 1,319
72 69 69 0 0
1,364 1,277 1,275 1,221 1,319
155
COUNTY OF WELD
STATE OF COLORADO
Operating Indicators by Function/Program
Last Ten Years
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)
2004 2005 2006 2007 2008
439,146
98,692
89,099
90.3%
462,877
99,711
46,327
46.5%
466,777
100,924
68,871
68.2%
484,412
88,601
30,203
34.1%
493,544
116,269
106,518
91.6%
1,387 1,543 1,574 1,606 1.122
218 206 215 224 110
402 455 579 628 610
75,276 79,425 92,045 95,524 99,951
2,012 2,082 1.972 2,000 2.571
S132,178 $104,225 $399,473 $100,609 $120,118
Public works:
Miles of road graveled 401 401 160 359 312
Snow removal lane miles 33,710 78,435 125,225 222,703 94,685
Grading lane miles 175,910 165,681 164,906 135,779 148,324
Miles of Upgrade -Aggregate Surfaced Roads 10 0 10 34 52
Culverts (new and repaired) 15" and larger 217 217 242 250 252
Tons of asphalt laid 95,634 95,634 70,421 67,389 67,548
Tons of gravel crushed 487,477 487,477 408,409 411,582 231,359
Health and welfare:
Social Services Caseload
Patient contacts
Immunizations
Culture and recreation:
Visitors -Missile Park
County Fair Exhibitors
Economic assistance: (3)
Headstart clients
Migrant Headstart clients
Business -type activities:
Paramedic Services
Patients transported (4)
12,000
15,000
7,500
14,000
11,000
6,900
14,500
30,440
6,360
15,000
11,880
7,165
15.500
11,500
7.000
575 575 586 595 600
2,410 2,220 2,422 2,326 2.335
622 562 562 562 562
175 266 266 266 275
7,331 7,284 8,375 8,210 8.866
Source: Various Weld County Department records.
Note:
(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 12/31/2009 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.
156
2009 2010 2011 2012 2013
478,202 482,841 541.678 537,483 573,537
112,276 145,692 101.085 162,517 134,936
34,027 80,893 42,937 117,121 66,368
30.3% 55.5% 42.5% 72.1% 49.2%
1,059 1,084 1,795 1,535 970
98 96 73 105 44
538 570 557 573 575
95,383 95,866 93,900 100,230 101,000
1,976 2,143 2,316 2,327 2,451
$86,794 $392,380 $126.194 S322,183 $365,074
205 416 419 482 402
176,786 77,889 89,503 57,474 65,342
152,568 154,602 133.297 157,634 144,036
33 36 41 16 91
233 264 254 222 224
90,664 101,431 86,805 12 5, 668 106,155
282,315 372,709 436.880 270,441 238,395
16,000
15,000
7,000
20,500
11,769
8,159
23,017
8,778
7,333
25,500
12,727
4,873
30,000
15,084
12,543
600 500 650 600 625
2,425 2,383 2,436 2,489 2,468
562 0 0
180 0 0
9,214
9,214 9,470
0 0
0 0
0 0
157
COUNTY OF WELD
STATE OF COLORADO
Capital Asset Statistics by Function/Program
Last Ten Years
2004 2005 2006 2007 2008
Function/Program
General government:
Building Square Footage
Court rooms
Information Systems Connections
Public safety:
Jail capacity (beds)
Patrol cars
Radios and cell phones
Public works:
Miles of Roads
Paved
Unpaved
Un-maintained
Grader sheds
Motor graders
Health and welfare:
Alternative fuel vehicles
Economic assistance:
Headstart sites
Business -type activities:
Paramedic Services
Ambulances (1)
684,551 684,551 719,723 725,723 854,081
10 12 16 16 17
1,240 1,292 1,292 1,292 1,320
386 386 386 386 760
42 46 55 55 55
939 1,140 1,229 1,270 1,359
671 681 675 670 684
2,425 2,394 2,387 2,370 2,352
252 512 327 492 490
18 18 18 18 18
30 30 30 30 30
6 4 4 4 4
11 11 11 11 11
10 10 10 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.
2009 2010 2011 2012 2013
860,399 984,052 984,052 984,052 1,003,846
22 22 21 21 22
1,320 1,320 1,320 1,320 2,537
760 760 779 779 779
62 60 60 62 61
1,179 1,220 1,064 1,035 1,055
674 689 696 717 726
2,331 2,307 2,289 2,262 2,241
493 351 354 355 357
18 18 18 18 18
30 30 30 32 34
5 5 5 7 6
0 0 0 0 0
11 12 12 0 0
159
COUNTY OF WELD
STATE OF COLORADO
Insurance in Force
December 31, 2013
Name of Company
Safety National
Casualty Company
Lexington & Hiscox
One Beacon
Policy
Number
Policy Period
Begins Expires
Details of Coverage
SP 4047371 12/31/12 12/31/13 Excess Worker's
Compensation
20412751 01/01/13 01/01/14 Property damage,
automobile liabilities,
791-00-03-55-0002 1/1/2013 1/1/2014 Excess Liability
Liability Limits
Employer's Liability
$1.000,000/Accident.
Worker's Compensation
Statutory Limits with
County retaining first
$750,000 each claim.
Property: S100,000,000/$500 deductible
Crime: $1,000,000/$500 deductible
Excess Liability: $100,000,000 per claim!
S150,000 CAPP deductible
Crime: $1,000,000;5500 deductible crime coverage
(employee dishonesty, robbery, forgery, money)
Excess $250,000
$10,000,000 liability coverage per occurrence
$0 Deductible for liability claims
with the exception of:
Employment Termination - $10,000
Inverse Condemnation Regulatory Taking - $ 125,000
Herbicide and Pesticide - S2,500
Lawyer's Professional Liabilty - $500
Annual
Premium
S117,168
S328,588
160
Single
Audit
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31; 2013
Program Description
Department Of Housing and Urban Development
Neighborhood Stabilization Project
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
Paul Coverdell Forensic Sciences Improvement Grant
Passed Through the State of Colorado Division Of Criminal Justice:
Violence Against Women Formula Grants
Congressionally Selected
Congressionally Selected
Paul Coverdell Forensic Sciences Improvement Grant
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
Unemployment Insurance
TAA Case Management
WIA Cluster
WIA Adult Program
WIA Youth Activities
WIAADMIN Adult H1B
WIA ADMIN Disaster NEG
WIA Dislocated Worker Formula Grant
Total WIA Cluster
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
FEDERAL Federal
CFDA # Expenditure
14.228 711,846
10.561 2,743.320
16.742
16.588
16.738
16.738
16.742
17.207
17.801
17.225
17.245
17.258
17.259
17.268
17.277
17.278
20.205
20.205
20.205
34.296
54.717
205,447
71,998
1,006
367,464
945,426
18,000
963.426
58.153
48,584
731.791
747,804
127.719
50,944
363.424
2,021.682
3,091.845
352.127
2,791.351
1,427.041
4,570.519
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2013
Program Description
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
Total Immunizations Cluster
Center for Disease Control and Prevention
Promoting Safe and Stable Families
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
Adult Resources for Care and Help
OAA-E National Caregiver
Substance Abuse and Mental Health Programs
TANF Cluster
Temporary Assistance for Needy Families
Total TANF Cluster
Child Support Enforcement
Low -Income Home Energy Assistance
CCDF Cluster
Child Care and Development Block Grant
Child Care and Development Fund
Total CCDF Cluster
FEDERAL Federal
CFDA # Expenditure
93.569 593,352
93.069 221,062
93.116 2,954
93.217 69,748
93.268 91,431
91,431
93.521 7,500
93.556 1,500
93.977 10,353
93.991 15,855
93.994 227,794
93.XXX 255
93.XXX 18,660
93.XXX 24,251
93.XXX 89,007
780,370
93.041 1,805
93.042 7,222
93.043 12,863
93.044 283,119
93.045 357,169
93.053 84,979
725,267
93.048 21,438
93.052 65,725
93.243 370,744
93.558 6,139,823
6,139,823
93.563 2,184,384
93.568 1,123,592
93.575 (265,602)
93.596 2,475,587
2,209,985
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2013
Program Description
Child Welfare Services Program
Foster Care Title IV -E
Adoption Assistance
Social 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
Total Passed Through the State Of Colorado Dept of Health Care Policy and Finance:
Total Department of Health and Human Services
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)
Total Department of Homeland Security
FEDERAL
CFDA #
93.645
93.658
93.659
93.667
93.674
93.778
93.XXX
93.XXX
93.778
94.006
97.042
97.036
Federal
Expenditure
216,854
3,097,920
665,156
1,694,070
95,361
1,605,790
(2,587)
173,217
20,408,629
773,258
773,258
22,555,609
101,645
95,400
3,226,875
3,322,275
37,464,523
COUNTY OF Weld County
STATE OF COLORADO
Year Ended December 31, 2013
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, 2013.
Note 2 - Sub -Recipient
Weld County, Colorado does not have any significant sub -recipients.
164
McGee, Hearne & Paiz, LLP
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 business -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, 2013, 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 25, 2014. 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 those 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 in
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 financial 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 any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified. We did identify a certain deficiency in internal
control, described in the accompanying schedule of findings and questioned costs as item 2013-001, that
we consider to be a significant deficiency.
165
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County's financial statements arc 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 express such an opinion. The
results of our tests disclosed no instances of noncompliance or other matters that are required to be
reported under Government Auditing Standards.
County's Response to Finding
The County's response to the finding 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 in the audit of the financial statements and, accordingly, we express no opinion on it.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing 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 communication is not suitable for any other purpose.
Cheyenne, Wyoming
June 25, 2014
166
� McGee, Hearne & Paiz, LLP
Certified Public Accountants and Consultants
314 West 18th Street, Cheyenne, Wyoming 82001-4404
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE
WITH REQUIREMENTS THAT COULD HAVE A DIRECT
AND MATERIAL EFFECT ON 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 U.S. Office of Management and Budget (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 ended December 31, 2013. 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 $2,552,813 in Federal awards which is not included in the County's schedule
during the year ended December 31, 2013. Our audit, as described below, did not include the operations of
the Weld County [lousing Authority because those financial statements were audited by other auditors.
Management'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 responsibility 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 in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major Federal
program. However, our audit does not provide a legal determination of the County's compliance.
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, 2013.
167
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 2013-002 through 2013-004. 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 in the audit of compliance and, accordingly, we express no opinion on the
response.
Report on Internal Control over Compliance
Management of the County is responsible for establishing and maintaining effective internal 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 appropriate in the circumstances 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 compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow 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 weakness 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
weaknesses 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 described in the accompanying
schedule of findings and questioned costs as item 2013-002, that we consider to be a significant
deficiency.
The County's response to the internal control over compliance finding 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 in the audit of the financial statements and, accordingly, we
express 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 25, 2014
JP oitAP
168
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
Year Ended December 31, 2013
I. SUMMARY OF INDEPENDENT AUDITOR'S RESULTS
A. Financial Statements
Type of auditor's report issued: Unmodified
Internal control over financial reporting:
• Material weaknesses identified?
• Significant deficiencies identified that are
not considered to be material weaknesses?
Yes
X Yes
X No
None reported
Noncompliance material to financial
statements noted? Yes X
B. Federal Awards
Internal control over major programs:
• Material weaknesses identified? X No
• Significant deficiencies identified that are
not considered to be material weaknesses? Nonc reported
Type of auditor's report issued on compliance for major programs: Unmodified
Yes
X Yes
• Any audit findings disclosed that are
required. to be reported in accordance
with Section 510(a) of OMB Circular A-133? X Yes
Identification of major programs:
CFDA Numbers
10.561
16.753
Cluster
Cluster
93.558
93.645
93.658
93.667
93.778
97.036
Name of Federal Program or Cluster
State Administrative Matching Grants for the Supplemental
Nutrition Assistance Program
Congressionally Recommended Awards
Child Care and Development Fund (CCDF) Cluster
Workforce Investment Act (WIA) Cluster
Temporary Assistance for Needy Families (TANF)
Child Welfare Services — State Grants
Foster Care (Title IV -E)
Social Services Block Grant (SSBG)
Medical Assistance Program (Medicaid; Title XIX)
Disaster Grants — Public Assistance (Presidentially
Declared Disasters)
• Dollar threshold used to distinguish between
Type A and Type B programs: $ 1,123,936
• Auditee qualified as low -risk auditee?
X Yes No
169
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2013
H. FINANCIAL STATEMENT FINDINGS
2013-001: Audit Adjustments
Condition: Adjustments to the County's financial records were proposed and recorded during the
audit to properly report the government -wide and fund -level financial statements in accordance
with generally accepted accounting principles (GAAP).
Criteria: Under professional standards, significant adjustments to the financial statements,
including footnote disclosures, is considered a control deficiency.
Cause: The misstatements resulting in the adjustments were caused by a number of factors,
including communication between departments and human error.
Effect: Financial statements that are not correctly stated in accordance with GAAP can be
misleading to users.
Recommendation: We recommend the Finance Department continue to strive to correct specific
issues resulting in the misstatements.
Auditee Response:
Contact: Barb Connolly, Controller
Corrective Action Plan: We will continue to work with all departments to make sure they arc
recording payments in the appropriate periods. We will also extend the time that the accounting
staff is taking in the year in which expenditures are recorded to ensure that we are reporting
appropriately.
Anticipated Completion Date: December 2014
111. FINDINGS AND QUESTIONED COSTS FOR FEDERAL AWARDS
2013-002: Temporary Assistance for Needy Families (TANF) - Special Tests and Provisions
Catalog of Federal Assistance (CF DA) 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 Human Services
Condition: During the year ended December 31, 2013, no case files were reviewed as required by
the Colorado Work Verification Plan.
Criteria: To comply with the Colorado Work Verification Plan, 5% of Colorado Works Basic
Cash 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 to be reviewed monthly.
170
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2013
Cause: The work verification review process was suspended by the State of Colorado during the
year ended December 31, 2012 and reinstituted beginning January 1, 2013. The County was
unaware of the updated work verification review process and requirements.
Effect: By not reviewing the files requested by the State of Colorado, the County is out of
compliance of the Work Verification Plan. The penalty for failure to comply with the Work
Verification Plan may be not less than 1% and not more than 5% of the awarded amount (42 USC
601, 602, 607, and 609).
Recommendation: We recommend that the County access the CBMS COGNOS and complete all
file reviews requested by the State of Colorado. We also recommend the County implement
controls to review the CBMS COGNOS monthly and ensure file reviews are performed timely.
Questioned Costs: None.
Auditce Response:
Contact: John Kruse, Administrator— Assistance Payments
Corrective Action Plan: The Department agrees with this finding. During 2013, the case
review position had not been filled until late 2013. Many Colorado Works cases were reviewed
for accuracy and training purposed through calendar year 2013; however none of them were
received formally. The Department is now in the process of formally reviewing Colorado
Works cases.
Anticipated Completion Date: December 2014
2013-003: Temporary Assistance for Needy Families (TANF) — Special Tests and Provisions
Catalog of Federal Assistance (CF DA) 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 Human Services
Condition: 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
cleared by the County within the required timeframe of 45 days.
Criteria: The County is required to initiate a notice of case action or an entry in the case record
that no case action is necessary within 45 days of its receipt of an IEVS 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 did not review open IEVS discrepancy reports contained in participant files
within the required 45 day time period. In addition, we noted that the identified IEVS
discrepancies were not cleared by the date of the audit.
Effect: If the County does not ensure IEVS discrepancy reports are cleared in a timely manner, the
County may pay or over compensate a participant who should not be receiving benefits.
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2013
Recommendation: We recommend that the County ensure IEVS discrepancy reports have cleared
within 45 days. In addition, we recommend. that any current outstanding IEVS discrepancies
outstanding in excess of 45 days be cleared immediately.
Questioned Costs: None.
Auditee Respon se:
Contact: John Kruse, Administrator— Assistance Payments
Corrective Action Plan: The Department agrees with this finding. This is largely due to the
high caseload size due to turnover and caseload growth. The Department will continue to
identify ways to be more efficient and streamlined in order to manage our caseloads. In
addition, we will continue to provide IEVS training to staff The Department is looking into
establishing a team that would specifically work reports, such as IEVS reports to be timely.
Anticipated Completion Date: December 2014
2013-004: State Administrative Matching Grants for the Supplemental Nutrition
Assistance Program - Eligibility
Catalog of Federal Assistance (CF DA) Number and Title: #10.561 State Administrative
Matching Grants for the Supplemental Nutrition Assistance Program
Federal Agency Name: U.S. Department of Agriculture
Pass -Through Entity Name (if applicable): Colorado Department of human Services
Condition: Of the 25 case files selected for testing, we noted one file 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 and
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
participant's eligibility from time of initial application until date of selected payment or to verify
the participant 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 participants 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 eligibility determination as well
as going forward to ensure client records are available for verification and other purposes.
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued)
Year Ended December 31, 2013
Questioned Costs: None.
Auditee Response:
Contact: John Kruse, Administrator — Assistance Payments
Corrective Action Plan: The Department agrees with the finding that a Food Stamps case did
not contain verification of an applicant's income. This income was documented on the
application, but the Department neglected to obtain documentation and retain it in the case file.
The Department will provide ongoing training to staff to ensure we are obtaining and retaining
the required income verification in the case file.
Anticipated Completion Date: December 2014
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR FEDERAL AUDIT FINDINGS
For the Year Ended December 31, 2013
Findings
Status
2012-01: Temporary Assistance for Needy Families
(TANF) Cluster — Special Tests and Provisions
Catalog of Federal Assistance (CF DA) Number and Title:
#93.558, #93.714 and #93.716, Temporary Assistance for
Needy Families (TANF) Cluster
F ederal Agency Name: U.S. Department of Health and
Human Services
Pass -Through Entity Name (if applicable): Colorado
Department of Health and Human Services
Award Number/Name: Not Applicable
We selected eight case files for testing to ensure proper
review was performedby the County in compliance with
the State's Work Verification Plan. Of the eight case files
selected for testing, we noted. the County did not complete
seven of the file reviews within the two -month time period
required by the State of Colorado.
Due to continued staffing shortages, we haven't yet
fully implemented all of the safeguards that would
prevent reoccurrence of these situations. However, we
have made significant progress toward resolving this
issue, and will continue our attempts to achieve full
staffing and optimal implementation.
See Finding 2013-002
2012-02: Temporary Assistance for Needy Families
(TANF) Cluster — Special Tests and Provisions
Catalog of Federal Assistance (CF DA) Number and Title:
#93.558, #93.714 and #93.716, Temporary Assistance for
Needy Families (TANF) Cluster
F ederal Agency Name: U.S. Department of Health and
Human Services
Pass -Through Entity Name (if applicable): Colorado
Department of Health and Human Services
Award Number/Name: Not Applicable
Of the 40 participants selected for testing, we noted seven
instances of participant files that contained Income
Eligibility and Verification System (IEVS) discrepancy
reports that were not cleared by the County within the
required timeframe of 45 days.
Due to continued staffing shortages, we haven't yet
fully implemented all of the safeguards that would
prevent reoccurrence of these situations. However, we
have made significant progress toward resolving this
issue, and will continue our attempts to achieve full
staffing and optimal implementation.
See Finding 2013-003
174
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR FEDERAL AUDIT FINDINGS (Continued)
For the Year Ended December 31, 2013
2012-03: Temporary Assistance for Needy Families
('I'ANF) Cluster — Eligibility
Catalog of Federal Assistance (CF DA) Number and Title:
#93.558, #93.714 and #93.716, Temporary Assistance for
Needy Families (TANF) 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
Award Number/Name: Not Applicable
Of the 40 participants selected for testing, we noted two
instances of participant files that did not contain adequate
documentation supporting the eligibility determination.
Due to continued staffing shortages, we haven't yet
fully implemented all of the safeguards that would
prevent reoccurrence of these situations. However, we
have made significant progress toward resolving this
issue, and will continue our attempts to achieve full
staffing and optimal implementation.
No instances of non-compliance were identified by the
auditor in the current year.
2012-04: Medical Assistance Program — Eligibility
Catalog of Federal Assistance (CF DA) Number and Title:
#93.778, Medical Assistance Program
Federal Agency Name: U.S. Department of Health and
Human Services
Pass -Through Entity Name (if applicable): Colorado
Department of Health and Human Services
Award Number/Name: Not Applicable
Of the 60 participant files selected for testing, we noted one
file that did not contain adequate documentation supporting
the eligibility determination.
Due to continued staffing shortages, we haven't yet
fully implemented all of the safeguards that would
prevent reoccurrence of these situations. However, we
have made significant progress toward resolving this
issue, and will continue our attempts to achieve full
staffing and optimal implementation.
No instances of non-compliance were identified by the
auditor in the current year.
2012-05: Medical Assistance Program — Eligibility
Catalog of Federal Assistance (CF DA) Number and Title:
#93.778, Medical Assistance Program
Federal Agency Name: U.S. Department of Health and
Human Services
Pass -Through Entity Name (if applicable): Colorado
Department of Health and Human Services
Award Number/Name: Not Applicable
Of the 60 participant files selected for testing, we noted two
files in which the information recorded within the Colorado
Benefits Management System ("CBMS") did not match
documentation contained in the participants' hard copy file.
We noted that in both cases the social security number
included on the application was not the social security
number included in the CBMS system.
Due to continued staffmg shortages, we haven't yet
fully implemented all of the safeguards that would
prevent reoccurrence of these situations. However, we
have made significant progress towardresolving this
issue, andwill continue our attempts to achieve full
staffing and optimal implementation.
No instances of non-compliance were identified by the
auditor in the current year.
175
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