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CAFR 2015
COMPREHENSIVE ANNUAL FINANCIAL REPORT* YEAR ENDED DECEMBER 31
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WELD
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�--STATE OF COLORADO
PREPARED BY THE DEPARTMENTS OF ACCOUNTING AND FINANCE
LEADING WITH RESPONSIVE, INNOVATIVE & COST EFFECTIVE SERVICES.
2016-2356
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TABLE OF CONTENTS
INTRODUCTORY SECTION
Table of Contents, i
Letter Of Transmittal1
Government Finance Officers Association Certificate
of Achievment for Excellence in Financial Reporting10
Organizational Chart 11
Principal County Officials12
FINANCIAL SECTION
Independent Auditors' Report 13
Management's Discussion and Analysis 15
Basic Financial Statements
Government -Wide Financial Statements:
Statement of Net Position.23
Statement of Activities 24
Governmental Fund Financial Statements:
Balance Sheet26
Reconciliation of Total Governmental Fund Balances to the
Statement of Net Position 28
Statement of Revenues, Expenditures and Changes in Fund Balance 30
Reconciliation of the Statement of Revenues, Expenditures, and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities32
Proprietary Fund Financial Statements:
Statement of Net Position - Proprietary Funds, 33
Statement of Revenue, Expenses and Changes in Net Position -
Proprietary Funds 34
Statement of Cash Flows - Proprietary Funds 35
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position 36
Statement of Changes in Fiduciary Net Position 37
Notes to the Financial Statements. 39
Required Supplementary Information Other Than MD&A:
Required Supplementary Information Other Than MD&A:
Required Supplementary Information
Schedule of Changes in Net Pension Liability and Related Ratios 79
Schedule of Employer Contributions.. go
Schedule of the County's Proportionate Share Of Net Pension Liability - PERA 81
Schedule of Employer Contributions - PERA 82
Other Post Employment Benefitsg3
Modified Approach for Infrastructure Assets84
i
Schedules of Revenues, Expenditures and Changes in Fund Balances - Actual and Budget
General Fund and Major Special Revenue Funds:
General Fund 85
Public Works Fund 90
Social Services Fund 92
Human Services Fund 94
Contingent Fund 96
Supplemental Information:
Combining Statement of Non -major Governmental Funds:
Explanation of Funds 97
Combining Balance Sheet 102
Combining Statement of Revenues, Expenditures and Changes in Fund Balance104
Schedules of Revenues, Expenditures and Changes in Fund Balances -Actual and Budget
Capital Expenditures Fund 106
Non -major Governmental Funds:
Special Revenue Funds:
Conservation Trust Fund 107
Public Health Fund 108
Solid Waste Fund 109
Bebee Draw Fund 110
Pioneer Community Law Enforcement Fund 111
South West Law Enforcement Fund 112
Component Units:
Housing Authority 113
E-911 Authority Fund114
Local Highway Finance Report 116
Combining Statements of internal Service Funds:
Combining Statement of Net Position - Internal Service Funds 118
Combining Statement of Revenues, Expenditures and Changes in
Net Position - Internal Service Funds120
Combining Statement of Cash Flows - Internal Service Funds 122
Combining Statement of Fiduciary Funds:
Combining Statement of Changes in Assets and Liabilities - Fiduciary Funds 124
ii
Schedule of Revenues, Expenses and Changes in Net Position -Actual and Budget
Enterprise Fund and Internal Service Funds:
Enterprise Fund:
Northern Colorado Regional Forensic Laboratory. 125
Internal Service Funds:
Motor Vehicle 126
Health Insurance Fund 127
Insurance Fund 128
Phone Service Fund 129
STATISTICAL SECTION
Net Position by Component 132
Changes in Net Position 134
Fund Balances of Governmental Funds, 136
Changes in Fund Balances, Governmental Funds 138
Assessed and Estimated Actual Value of Property 140
Property Tax Rates - Direct and Overlapping Governments 142
Principle Tax Payers...143
Property Taxes Levies and Collections 144
Direct and Overlapping Governmental Activities Debt 145
Legal Debt Margin Information 146
Private Purpose Revenue Bonds148
Demographic and Economic Statistics 149
Principal Employers 150
Full -Time Equivalent Employees by Function/Program 152
Operating Indicators by Function/Program 154
Capital Asset by Function/Program 156
Insurance in Force 158
SINGLE AUDIT
Schedule of Expenditures of Federal Awards159
Notes to the Schedule of Federal Expenditures161
Report On Internal Control Over Financial Reporting and on Complianceand other Matters Based on an
Audit of Financial Statements Performed in Accordance with Government Auditing Standards 162
Report on Compliance for Each Major Federal Program and Report on
Internal Control Over Compliance Required by the Uniform Guidance 164
Summary Schedule of Prior Federal Audit Findings 167
111
iv
June 30, 2015
DEPARTMENT OF FINANCE
AND ADMINISTRATION
PHONE (970) 356-4000; EXT.4218
FAX: (970) 352-0242
P.O. BOX 758
GREELEY, COLORADO 80632
Honorable Board of Commissioners
County of Weld
1150 O 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, 2015, 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, 2015 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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Honorable Board of Commissioners
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 Anderson & Whitney, 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 unmodified
opinion that the County's financial statements for the year ended December 31,
2015, 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 the Title 2 U.S.
Code of Federal Regulations part 200. The "Single Audit" is designed to meet
the special needs of federal grantor agencies. The standards governing Single
Audit engagements require the independent auditor to report not only on the fair
presentation of the financial statements, but also on the audited government's
internal controls and compliance with legal requirements, especially as they
relate to the administration of federal awards. Single audit schedules and the
auditor's reports are available in the "Single Audit" section of the document.
PROFILE OF WELD COUNTY
Location and demographics. Weld County is located along Colorado's Front
Range in the northern part of the state. Weld County covers an area of 3,999
square miles in north central Colorado. It is bordered on the north by Wyoming
and Nebraska and on the south by the Denver metropolitan area. The third
largest county in Colorado, Weld County has an area greater than that of Rhode
Island, Delaware and the District of Columbia combined.
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Honorable Board of Commissioners
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 2015 was approximately 286,500.
COUNTY GOVERNMENT
County Services. Weld County provides the full range of services contemplated by State Statute
and the Weld County Home Rule Charter. Services include:
• Judicial and public safety - - consisting of the Sheriff, District Attorney, operation and
maintenance of the detention center, regional communications center, and building
inspection.
• Health, employment, and social services.
• Planning and zoning.
• Construction, reconstruction and maintenance of streets, highways, and bridges.
• Parks and recreation.
• Property valuation, tax collection and distribution, and vehicle licensing.
• General administrative services.
County Operating Structure. Weld County became Colorado's first Home Rule County in 1976.
The County is governed by a five -member Board of County Commissioners. Three
Commissioners are elected by districts of relatively equal population and two Commissioners are
elected at large. They serve staggered four-year terms and function as the County's policymaking
body. Each Commissioner coordinates one of five functions of the County. The County is also
served by four other elected officials: assessor, clerk and recorder, district attorney, and sheriff.
Weld County also has a five -member, non-partisan, elected body that is charged to review all
aspects of County government and to make periodic written reports to the public. The
Commissioners appoint department heads to be responsible for the various day-to-day
operations.
Honorable Board of Commissioners
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 2015, 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 2015:
Assessed value increased 28% or $1.955 billion primarily from oil and gas production
The county's mill levy was reduced by over one mill to 15.800 mills
Completed the design for the construction of 20 miles of the five -lane WCR 49 south
corridor from US 34 to 1-76 as part of a design/build contract
Completed road and bridge mitigation projects resulting from the September 2013 flooding
Continued to fund a Haul Route Program (HARP) to improve county roads impacted by
the energy industry due to new oil and gas drilling exploration
Continued implementation of the Strategic Investment Plan for the Future of Weld County
Completed a major capital upgrade of the information technology (IT) infrastructure in the
county as part of the 2015-2019 Five Year IT Capital Plan
Information Technology did a major PC and computer monitor refresh along with a major
Microsoft upgrade
Funded the oil and gas revenue fluctuation reserve in the Contingency Fund
Operated a Restorative Justice Program in the District Attorney's Office for juvenile
offenders
Added two Pretrial Specialists to accommodate HB 13-1236 changes to jail bonding
criteria
Created an Oil and Gas Liaison/Coordinator position to deal with oil and gas issues
r Implemented a storm water management program for MS4 compliance
Funded current and past administrative costs of the Weld County Retirement Plan
Continued efforts to control health care costs for county employees and their dependents
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Honorable Board of Commissioners
Accommodated the impacts of the Affordable Care Act on Medicaid eligibility applicants
Implemented a number of cost containment and strategies to mitigate growing cost of
Human Services programs
r Accommodated the impact of HB14-1317 on the delivery of day care
FACTORS AFFECTING FINANCIAL CONDITION
Economic Conditions and Outlook.
The economies of both Weld County and Colorado are strong. Low oil prices are expected to slow
the pace of Colorado's expansion in 2016. Nationwide, low oil prices will be a net positive outside
of the oil producing states, boosting growth. The expansion and inflationary pressure will be
moderated in 2016 by tightening monetary policy. The biggest risk to expectations for Colorado's
and Weld County's economies is the trajectory of oil prices and its impact on employment and
income growth. Oil prices decreased precipitously in the second half of 2014, from more than
$100 per barrel in June to around $50-60 per barrel in 2015. The impact of the price drop on
future drilling activity in Colorado will depend on the length of time that prices remain at or below
current levels. It is forecast that oil prices will begin to rise gradually through 2016, and that oil
production in Weld County and the broader Niobrara formation will remain strong, though at a
somewhat reduced level, throughout 2016.
The biggest impact on the Colorado economy will come in the form of reduced investment and
capital expenditures by the oil industry. The Denver Post has reported that nine oil companies
announced, in March, a combined total of $2 billion in reduced capital expenditures within
Colorado. Other sectors of the economy, including the financial and banking sectors, construction,
manufacturing, professional and business services, and health care have strong momentum, with
low debt, strong earnings, and growing consumer demand. Cutbacks in the oil industry, therefore,
are expected to be a moderating influence in employment, wages, and income gains in the Denver
metropolitan area and the northern Front Range.
History shows that economists and financial markets are dismally bad at predicting even the
direction of oil prices. Forecasts published by prominent economists expect a wide variation in
prices for the rest of the year, with some predicting them to fall to less than $30, and others
expecting them to steadily recover to $80 by the end of the year. Those predicting that oil prices
will continue to fall point to a continuously building oversupply of oil, evidenced by the surge in
the nation's stock inventories of crude oil. Production is likely to have fallen off as the number of
oil rigs operating in both Colorado and the nation has dropped. Those predicting steady gains in
oil prices point to a rebalancing of the market, as a slowly strengthening global economy increases
demand, while reductions in global production reduce supply.
Weld County continues to boast one of the strongest regional economies in the state. The
employment level continues to increase and the unemployment rate, already among the lowest
in the state, continues to fall. Growth in retail sales is accelerating while the growth in residential
and nonresidential construction continues to be strong. A potential downside is the recent drop in
oil prices, which appears to have slowed the pace of oil development in the region.
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Honorable Board of Commissioners
The regional labor market continues to be the strongest in the state, with employment growing
nearly five percent in Weld County on a year -over -year basis. The healthy rate of job growth kept
the regional unemployment rate among the lowest in the state with the October unemployment
rate of 3.2% in Weld County. Regional construction activity continues to grow at a healthy rate. In
the last year residential permits increased 18.5 percent in Weld County. There were 238
nonresidential construction projects started last year, an increase of 53.5 percent on a year -over -
year basis. During this same period, the total value and square footage of projects increased 38.4
percent. The growth rate for retail sales in Weld County the last three years outpaced both the
state and the nation as a whole.
In summary, the Weld County economy, like the Colorado economy, is expected to grow at rates
at or above its historical trend through 2016. The labor market continues to improve with more
jobs and fewer people looking for work. These labor market improvements have begun to put
upward pressure on wages, giving households more money to save and spend. Healthier
households will boost consumer spending and business activity, fueling more growth in earnings
and investments. Because of momentum in the economy, the Federal Reserve is expected to
begin to slowly raise short-term interest rates as we approach 2016. Economic growth will be
moderated by tightening monetary policy and a weak global economy. Although low oil prices are
expected to be a boost for the economy nationwide, the boost will be offset by lower production
and income in the oil industry. Low oil prices are expected to moderate the pace of Colorado's
expansion in 2016, primarily in the Denver Metropolitan area and the northern Front Range, where
Weld County is the center of the energy development activity.
LONG-TERM FINANCIAL PLANNING
There are a number of future issues and concerns that will be impacting Weld County's budget in
2016 and subsequent fiscal years. The continued impact of oil and gas development in the county
touches on many aspects of Weld County currently, and in planning for the future. The energy
development presents both challenges and opportunities for Weld County government. As has
been the case for the last four to five years, growth and development activity directly, or indirectly,
related to oil and gas exploration seems to be the main economic driver in the majority of positive
economic activities in Weld County. The County has seen several compressor stations, injection
wells, new pipelines, and other oil and gas support and service industries seeking permits. Given
the commitments of the large oil and gas companies in Weld County, the County seems primed
to see considerable long-term investment and development in the oil and gas arena. Although the
future of energy development in Weld County appears bright, it is not without risks. Oil and gas
production in Colorado has risks associated with the potential of more government regulations
and voter initiatives trying to restrict or limit fracking in Colorado communities. These regulatory
risks, if implemented, could dramatically impact future oil and gas development in Colorado.
The volatility of the oil and gas assessed values continues to be a major impact to the County's
budget planning the last five years. For the 2016 budget, the growth in the county's assessed
value from oil and gas values exceeds 25%. Oil and gas assessed valuation are close to
two-thirds of the county's total assessed valuation. Since November, 2014, due to the oversupply
of oil worldwide the price of oil has dropped from over $100 a barrel to the price range of $40-50
per barrel. Because of the volatility of production levels and price fluctuations of the oil and gas
values, the County must continue to prudently manage the increased property tax base created
by the energy development in 2016 and be prepared for a significant drop in the assessed
valuation for 2017 the county will be facing. Any 2016 budget decision needs to be made by
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keeping in mind the future drop in property tax revenues in 2017. The drop in assessed valuation
for the 2017 budget could lower the Weld County assessed valuation 20-25% below the 2015
budget level for property tax.
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. This strategy positions Weld County well financially to deal with the future drop in the
oil and gas assessed valuation and lower property tax level to be faced in 2017. Based upon
industry projections hopefully after the 2017 budget year the price of oil and gas will recover and
stabilize at price levels that will be somewhere between the low of $40 a barrel and the high of
over a $100 a barrel.
The financial planning done by Weld County the last four years has funded the unfunded liability
of the retirement plan, a fluctuation contingency reserve of $30 million and reserves in the Public
Works Fund and Capital Fund. The $30 million contingency fund will provide the financial flexibility
to adjust to the volatile property tax revenue patterns in the next two to three years without having
to make significant reductions to basic operational spending, which requires just under $115
million in property tax revenue to maintain the current spending levels. The capital reserve will
leave the County on track to be able to construct the $42 million jail expansion in 2018-2019. The
fund balance in the Public Works Fund should be adequate to accomplish the major capital
improvements to the CR 49/47 Corridor, south from Highway 34 to 1-76, and north from CR 60.5
(SH 263) to SH 392 over the next three years, requiring over $16.5 million in property tax per year
to fund the road improvements. To accomplish the project, a funding level of $25 million per year
for five years has been required.
In 2016, to be positioned in 2017, the budget process provided a comprehensive method of
addressing issues faced by the County. Weld County managers must continue to find ways to
reduce costs, increase program productivity, find new revenue sources, and raise revenues
without increasing taxes beyond the TABOR and Home Rule Charter limits. Weld County
government's trend of being more creative and innovative to make better use of resources
-- human, financial, and technological -- must continue. It is only through improved practices and
approaches that services are maintained and public confidence in government is enhanced.
RELEVANT FINANCIAL POLICIES
As stated earlier, as Weld County begins 2016 the County is in excellent financial condition with
no debt, no sales tax, one of the lowest mill levies among all Colorado counties, a significant cash
reserve, and a fully funded pension plan. The major factors impacting the 2016 budget continue
to be dominated by the oil and gas development in Weld County, state and federal budget issues,
service restructuring in Weld County government, and the execution of the Strategic Investment
Plan for the Future of Weld County.
As has been the case for the last four to five years, growth and development activity directly, or
indirectly, related to oil and gas exploration seems to be the main economic driver in the majority
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Honorable Board of Commissioners
of positive economic activities in Weld County. The County has seen several compressor
stations, injection wells, new pipelines, and other oil and gas support and service industries
seeking permits. Given the commitments of the large oil and gas companies in Weld County, the
County seems primed to see considerable long-term investment and development in the oil and
gas arena.
The volatility of the oil and gas assessed values continues to be a major impact to the County's
budget planning the last five years. For the 2016 budget, the growth in the County's assessed
value from oil and gas values exceeds 27%. Oil and gas assessed valuation are close to
two-thirds of the County's total assessed valuation. Since November, 2014, due to the oversupply
of oil worldwide the price of oil has dropped from over $100 a barrel to the price range of $40-50
per barrel. Because of the volatility of production levels and price fluctuations of the oil and gas
values, the County must continue to prudently manage the increased property tax base created
by the energy development in 2016, and be prepared for the significant drop in the assessed
valuation for 2017 that the County will be facing. Any 2016 budget decision needs to be made by
keeping in mind the future drop in property tax revenues in 2017. The drop in assessed valuation
for the 2017 budget could lower the Weld County assessed valuation 20-25% below the 2015
budget level for property tax. In anticipation of the significant drop in the 2017 assessed valuation,
there is approximately $63 million in one-time expenses in the 2016 budget with $23 million going
into the contingency reserve, $5 million for engineering costs for the Weld Parkway, $12.36 million
in property tax incentive credits, $15 million for property tax credits for the Weld County Bright
Futures Program, $8.25 million in capital reserve. This amounts to over a third of the County's
2016 property tax revenues. Thus, allowing for nearly a 50% drop in oil and gas assessed
valuation in 2017 without adversely impacting the core county program budgets.
A significant long term project will be the capital improvements to the CR 49/47 Corridor, south
from Highway 34 to 1-76, and north from CR 60.5 (SH 263) to SH 392, over the next three years,
requiring over $40 million per year to fund the road improvements in 2016 and 2017, and $25
million in 2018. To accomplish the project, added property tax resources will have to be included
in the Public Works Fund for the next three years.
On May 20, 2014, the Board approved the design/build option for the CR 47/49 Corridor at a total
cost of $125 million. The first section of the project from Highway 34 to CR 60.5 was completed
in November, 2015. A design/build contract for the section from Highway 34 to 1-76 was awarded
in August, 2015, with construction to be completed in 2017. Savings have been realized by doing
a design/build. The schedule is as follows:
CIP
2014
2015
2016
2017'
2019
CR 49 South
US 34 to 1-76
(20 miles)
Design/ROW
Design/ROW
Construction
Construction
Optional Bid
CR 47 North
CR 60.5 - SH
392 (3.5 miles)
Design/ROW
Construction
Construction
The project will be able to be funded within the resources of the Public Works Fund over the
period of 2013-2017. The property tax for the Public Works Fund has been increased $10 million
the last three years from $6.5 million in 2013, to $16.5 million in 2016. No debt has been incurred,
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Honorable Board of Commissioners
nor have funds had to be advanced from other county funds to accomplish this project.
Finally, for the fourth year the Strategic Investment Plan for the Future of Weld County
recommendations are incorporated into the 2016 Budget. The plan calls for developing a
long-term strategy of investment in the County's infrastructure, technology and innovation, staff
training and development, economic development for diversification of the local economy, and
establishing a fluctuation reserve to deal with the volatility of the peaks and valleys in energy
prices and production.
AWARDS AND ACKNOWLEDGEMENTS
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the County for its Comprehensive Annual Financial Report
for the fiscal year ended December 31, 2014. This was the thirty-second year that the County
has received this prestigious award. In order to be awarded a Certificate of Achievement, the
County published an easily readable and efficiently organized Comprehensive Annual Financial
Report. This report satisfied both generally accepted accounting principles and applicable legal
requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement
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 2015 annual appropriated budget for over thirty consecutive years. In order to qualify for
the Distinguished Budget Presentation Award, the County's budget document was judged to be
proficient in several categories including policy documentation, financial planning, and
organization.
Financial reports are valuable in that they provide a permanent historical record of a
governmental agency's operation to the management and the general public. It is our belief that
this is a comprehensive report of the 2015 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, 2015. 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,
yieW44/M
�7
Donald D. Warden,
Director of Finance and Administration
9
G�9
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
County of Weld
Colorado
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2014
deAgere,
Executive Director/CEO
10
WELD COUNTY HOME RULE GOVERNMENT
County Citizens
Assessor
County
Council
Board of County
Commissioners
*riff
Corrections, Law Enforcement,
Animal Control, Forensic Lab,
Task Force, Code Enforcement
FlClerk and
, Recorder
ordirig. Motor Vehicle, Elections
ic
County
Attorney
Department of
Finance and
Administration
Commissioner
Coordinator
Accounting
Budget
Capital Projects
Contract Administration
Grant Administration
Finance Division
Human Resources
Printing and Supply
Risk Management
Special Projects
Treasurer's Office
Clerk to the Board
Housing Authority
Department of
Public Health and
Environment
Commissioner
Coordinator
Health Administration
Environmental Health
Public Health Services
Health Communication,
Education and Planning
Board of Public Health
General Services
Coroner
Justice Services
Purchasing
Communications
Public Safety IT
Information Services
GIS and Mapping
Phone Services
Department of
Public Works
Commissioner
Coordinator
rEngineering
Road and Bridge
Buildings and
Grounds
Veterans Services
Office of
Emergency
Management
Department of
Planning Services
Commissioner
Coordinator
Planning and Zoning
Building Inspection
Board of Adjustment
International Building Code
Planning Commission
Utility Board
County Extension
Office
Fair Board
Red = Elected
Positions
Department of
Human Services
Commissioner
Coordinator
a
Human Services
Social Services
AAA
Child Support
Assistance Payments
Child/Adult Protection
Employment Services
11
COUNTY OF WELD
STATE OF COLORADO
PRINCIPAL COUNTY OFFICIALS
December 31, 2015
Board of County Commissioners
Barbara Kirkmeyer
Sean Conway
Mike Freeman
Julie Cozad
Steve Moreno
County Clerk and Recorder
Carly Koppes
County Assessor
Christopher M. Woodruff
County Sheriff
Steve Reams
Director of Finance & Administration
Don Warden
Controller
Barbara Connolly
Treasurer
John R. Lefebvre, Jr.
12
FINANCIAL
SECTION
ANdERsorj
EZ1WhITNEy
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Independent Auditors' Report
Board of County Commissioners
Weld County, Colorado
Report on the Financial Statements
A Professional Corporation of
Certified Public Accountants
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, as of and for the year ended December 31, 2015 and the related notes to the financial
statements, which collectively comprise the County's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with the accounting principles generally accepted in the United States; this includes the design,
implementation, and maintenance of the 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 an opinion 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 S2,375,288
and whose revenues totaled $3,568,542 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 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 of 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 evaluation of 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 opinion.
Opinion
In our opinion, based on our audit and the report of the other auditors, the financial statements referred to
above present fairly, in all material respects, the respective financial position of the governmental activities, the
business -type activities, each major fund, and the aggregate discretely presented component units and remaining
fund information of Weld County, Colorado, as of December 31, 2015, and the respective changes in financial
position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles
generally accepted in the United States.
5801 West 11th Street . Suite 300 (970) 352-7990
Greeley, Colorado 80634-4813 www.awhitney.com
13
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Board of County Commissioners
Weld County, Colorado
Page 2
Emphasis of Matter
As discussed in notes 1 and 16 to the financial statements, the County adopted the provisions of GASB
Statement No. 68, Accounting and Financial Reporting far Pensions and GASB Statement No. 71, Pension
Transition, fbr Contributions Made Subsequent to the Measurement Date, which has resulted in a restatement of the
net position as of January 1, 2015. Our opinions are not modified with respect to this matter.
Other Matters
Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a
whole. The combining and individual nonmajor fiend financial statements and schedules, the Local Government
Highway Report, and the schedule of expenditures of federal awards listed in the table of contents are presented for
purposes of additional analysis and are not a required part of the basic financial statements of Weld County,
Colorado. Such information is the responsibility of the management and was derived from and relates directly to the
underlying accounting and other records used to prepare the financial statements. The information has been
subjected to the auditing procedures applied in the audit of the financial statements and certain additional
procedures, including comparing and reconciling such information directly to the underlying accounting and other
records used to prepare the financial statements or to the financial statements themselves, and other additional
procedures in accordance with auditing standards generally accepted in the United States by us and other auditors.
En our opinion, based on our audit and the report of the other auditors, the information is fairly stated in all material
respects in relation to the basis 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 express no opinion on them.
Accounting principles generally accepted in the United States require that management discussion and
analysis, supplementary pension information, budgetary comparison schedules and information on the modified
approach for reporting infrastructure he 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, 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 the 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.
Other Reporting Required By Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 29, 2016 on
our consideration of Weld County, Colorado'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 Weld County, Colorado's internal control over financial reporting and
compliance.
June 29, 2016
14
Management Discussion and Analysis
This section of the report provides readers with a narrative overview and analysis of the financial activities of Weld County for
the fiscal year ended December 31, 2015. We encourage readers to consider the information presented here in conjunction with
the letter of transmittal and basic financial statements to enhance their understanding of the County's financial performance.
FINANCIAL HIGHLIGHTS
• Weld County's assets exceeded liabilities and deferred inflows of resources by $495.2 million at the end of 2015. Of this
amount, $53.4 million may be used to meet the government's ongoing obligations to citizens and creditors. The
remaining $441.8 million is invested in capital assets or restricted by law.
• The County's General Fund balance was $26.0 million as of December 31, 2015. Of this amount, $0.9 million for non -
spendable assets, $8.4 million is restricted; $2.1 million committed for economic development; $0.7 million for
encumbrances. The remaining $13.9 is available to meet the ongoing obligation to citizens and creditors.
• The 2015 General Fund balance of $26.0 is 18.8% of 2015 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 2016.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the County's basic financial statements. The basic
financial statements contain three components: 1) government -wide financial statements, 2) fund financial statements, and 3)
notes to the financial statements. In addition to the basic statements, this report also contains other supplementary information
including combining statements for non -major funds, a statistical section, and information regarding federal grant programs.
Government -wide Financial Statements. The government -wide. financial statements are designed to provide readers with a
broad overview of the County's finances in a manner similar to a private sector business.
The statement of net position presents information on all of the County's assets, deferred outflows of resources, liabilities, and
deferred inflows of resources with the remaining difference reported as net position. Over time, increases or decreases in net
position may serve as a useful indicator of whether the County's financial position is improving or deteriorating.
The statement of activities presents information showing how the government's net position changed during the fiscal year. All
changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of
related cash, flows. Thus, revenues and expenses are reported in the statement for some items that will only result in cash flows
in future fiscal periods (e.g., uncollected taxes).
Both of the government -wide financial statements distinguish functions of the County that are principally supported by taxes
and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant
portion of their costs through user fees and charges (business -type activities). Weld County's governmental activities include
general government, public safety, streets and highways, health and welfare, auxiliary, culture and recreation, and economic
assistance. The County has one business type activity — operation of the regional forensic laboratory.
The government -wide financial statements include not only Weld County itself (known as the primary government), but also
legally separate entities which have a significant operational or financial relationship with the County. These entities, known as
blended component units, include local improvement districts, Finance Corporation, Weld County Retirement Plan, Pioneer
Law Enforcement Authority, Southwest Weld Law Enforcement Authority and Beebe Draw Law Enforcement Authority.
Discretely presented component units are Housing Authority and F-91 1 Emergency. More information on the functions of these
entities can be found in Note 1 to the financial statements.
Fund financial statements. A fund is a grouping of related accounts that is used to maintain control over resources that have
been segregated for specific activities or objectives. Weld County, like other state and local governments, uses fund accounting
to ensure and demonstrate compliance with finance -related legal requirements. All of the funds of Weld County can be divided
into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds arc used to account for essentially the same functions reported as governmental
activities in the government -wide financial statements. However, unlike the government -wide financial statements,
governmental fund financial statements focus on near -term inflows and outflows of spendable resources, as well as on balances
of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's
near -term financing requirements.
15
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 field balances provide a reconciliation to facilitate this comparison between governmental funds
and governmental activities.
Weld County maintains eleven individual governmental funds. Information is presented separately in the governmental funds
balance sheet and in the governmental funds statement of revenues, expenditures, and changes in find balances for the General
Fund, Public Works Fund, Social Services Fund, Human Services Fund, Capital Expenditures, and Contingent Fund, all of
which are considered to be major funds. Data from the other five funds are combined into a single, aggregated presentation.
Individual fund data for each of these 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 of this report.
Proprietary funds. Weld County maintains two different types of proprietary funds. Enterprise funds are used to report the
same functions presented as business -type activities in the government -wide financial statements. Weld County has one
enterprise fund, the Northern Colorado Regional Forensic Laboratory. internal service, funds are an accounting device used to
accumulate and allocate costs internally among the County's various functions. Weld County uses internal service finds to
account for its fleet maintenance, phone services, Weld Finance Corporation, and self-insurance activities. Because these
services predominantly benefit governmental rather than business -type functions, they have been mostly included within
governmental activities in the government -wide financial statements.
Proprietary finds provide the same type of information as the government -wide financial statements, only in more detail. The
proprietary field financial statements provide separate information for the Northern Colorado Regional Forensic Laboratory
Fund, an enterprise fund of the County. The remaining proprietary funds, all of which are internal service funds, are combined
into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for each of these non -
major funds is provided in the form of combining statements elsewhere in this report.
The basic proprietary fund financial statements can be found on pages 33 of this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government.
Fiduciary funds are not included in the government -wide financial statements because the resources of these funds are not
available to support Weld County's own operations. The accounting used for fiduciary funds is much like that used for
proprietary funds.
The basic fiduciary fund financial statements can be found on page 36 through 37 of this report.
Budgetary Comparisons. Weld County adopts an annual appropriated budget for all of its finds. A budgetary comparison
statement has been provided for all major funds on pages 85 to 96 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 frill understanding of the data
provided in the government -wide and fund financial statements. The notes to the financial statements can be found on pages of
this report.
Other information. The combining statements referred to earlier in connection with non -major governmental finds and
internal service funds are presented following the notes to the financial statements and can be found on pages 102 through 112
and 118 through 129 respectively.
16
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, 2015, assets and deferred outflows exceeded liabilities and deferred inflows by $495.2 million.
The following table provides a summary of the County's governmental and business -type net assets for 2014 and 2015.
Table 1
Net Position
(in Millions)
Governmental Business -type
Activities Activities
Total
2014 2015
Assets
Current and other assets $ 350.21 $ 373.73 $
Capital assets 297.89 340.94 _
Total Assets 648.10 714.67
Deferred Outflows
Pension Plans 0.00 60.63 _
Total Deferred Outflows $ 0.00 $ 60.63 $ - $
Liabilities
Current and other liabilities $ 21.07 $ 36.29 $ - $
Long-term liabilities 8.10 58.96 _
Total liabilities $ 29.17 $ 95.25 _
Deferred Inflows
Property Taxes $ 144.52 $ 184.66 $
Pension Plans - 0.19 _
Total Deferred Inflows $ 144.52 $ 184.8.5 - $
Net Position
Invested in capital assets $ 297.89 $ 340.94 $
Restricted 110.32 100.87
Unrestricted 66.20 53.39
Total net position $ 474.41 $ 495.20 $
2014 2015
2014 2015
$ (0.01) $ 350.21 $ 373.72
- 297.89 340.94
(0.01) 648.10 714.66
0.00 60.63
- $ 0.00 $ 60.63
- $ 21.07 $ 36.29
8.10 58.96
29.17
95.25
- $ - $ 144.52 $ 184.66
0.19
- $ 144.52 $ 184.85
- $ - $ 297.89 $ 340.94
- - 110.32 100.87
- (0.01) 66.20 53.38
- $ (0.01) $ 474.41 $ 495.19
A portion of Weld County's net position (10.8%) represents unrestricted net position of S53.38 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 (68.9%) reflects its investment in capital assets. These assets include
land, buildings, machinery, equipment and infrastructure. These capital assets are used to provide services to citizens;
consequently, they are not available for future spending. Although the investment in capital assets is reported net of related
debt, it should be noted that the resources needed to repay this debt must be provided from other sources since the capital assets
themselves cannot be used to liquidate these liabilities.
An additional $100.87 million of the County's net position (20.4%) represents resources that are subject to external restrictions
on how they may be used. Included in this category is the TABOR emergency reserve of $7.00 million, $4.73 million in
reserves for insurance claims, $7.49 million for health, economic and social assistance programs, S79.77 million for road and
bridge maintenance and $1.88 million for other purposes.
At the end of 2015 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 $20.78 million in
2015, including a dcrease to the beginning net position of $44.59 as a result of the implementation of GASB 68. The table
indicates the changes in net position as a result of activities for the governmental and business -type activities in 2014 and 2015.
17
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
Forensic Crime Lab
Total expenses
Increase (decrease) in net position
before Transfers
Transfers
Net Position Beginning
Net Position Ending
Governmental
Activities
2014 2015
Business -type
Activities
2014 2015
$ 59.30 $ 66.01 $ 0.00 $
30.44 32.69 0.15
Total
2014 2015
0.00 $ 59.30 $ 66.01
0.14 30.59 32.83
115.69 127.45 0.00 0.00 115.69 127.45
14.38 14.72 0.00 0.00 14.38 14.72
37.78 16.74 0.00 0.00 37.78 16.74
$ 257.59 $ 257.61 $ 0.15 $ 0.14 $ 257.74 $ 257.75
$ 46.77 $ 37.50 $
54.03 58.17
42.89 43.93
1.79 1.61
39.09 42.85
9.41 8.17
0.00 0.00
193.98 192.23
0.00 $
0.00
0.00
0.00
0.00
0.00
0.15
0.15
0.00 $ 46.77 $ 37.50
0.00 54.03 58.17
0.00 42.89 43.93
0.00 1.79 1.61
0.00 39.09 42.85
0.00 9.41 8.17
0.15 0.15 0.15
0.15 194.13 192.38
63.61 65.38 0.00 (0.01) 63.61 65.37
0.00 0.00 0.00 0.00 0.00 0.00
410.80 429.82 0.00 0.00 410.80 429.82
$ 474.41 $ 495.20 $ 0.00 $ (0.01) $ 474.41 $ 495.19
Governmental Activities. Governmental activities increased Weld County's net position by $65.38 million in 2015. Key
elements of this increase are as follows:
• Total revenues were up 50.02 million, 0.01% from the prior year, with an increase in property taxes (S11.76 million)
charges for service ($6.71 million) operating grants and contributions ($2.25 million) and decrease in other revenues
($21.04 million).
• Expenses totaled $192.23 million. This represents a 0.90% decrease, with decreases for general government (S9.27
million), economic assistance (S1.24 million) and culture and recreation ($0.18 million). Expenses for health and
welfare (S3.76 million), public safety ($4.14 mullion) and streets and highways ($1.04 million) had increases in 2015.
Business -Type Activities. The County's only business -type activity, Northern Colorado Regional Forensic Laboratory, net assets
did not change as a result of 2015 activities. The crime lab began operations in August of 2013 and all operating expenditures
were reimbursed by grant funds.
18
FINANCIAL ANALYSIS OF THE COUNTY'S FUNDS
As noted earlier, Weld County uses fiend accounting to ensure and demonstrate compliance with finance -related legal
requirements.
Governmental Funds Overview. The focus of County governmental funds is to provide information on near -term inflows,
outflows, and balances of spendable resources. Such information is useful in assessing the County's financing requirements. In
particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the
end of the fiscal year.
As of the end of 2015, the combined ending fund balance of County governmental funds was $133.97 million. Of this amount
the approximately $2.15 million represents an investment in non -spendable items (51.28 million inventory, and $0.87 million in
prepaid expenses). Another $91.45 million of fund balance is restricted use for emergencies (S7.00 million) public works
($69.34 million) health, welfare and economic assistance ($13.24 million), and other programs (51.87 million). Fund balance
committed to economic development ($2.07 million), capital projects ($15.10 million), contingencies (56.59 million) and
environmental conservation ($2.01 million) is 525.77 million. Another $0.74 million is assigned to budget appropriations and
$13.86 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) 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 $25.97
million as of December 31, 2015, an increase over the $23.48 million fund balance as of December 31, 2014. General
fund revenues for property taxes, charges for services and miscellaneous revenues increased in 2015. This increase in
was offset by increases in expenditures, primarily in the general government function to reimburse the retirement plan
for past administration fees paid by the retierment plan, and increases in all other categories of expenditures.
Operating transfers out decreased slightly in 2015. As a measure of the general fund's liquidity, it may be useful to
compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance
represents 10.52% of total 2015 expenditures, while total fund balance is 19.72% 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 $70.47 million in fund balance at the end of 2015.
This amount was $8.57 million less than the previous year. In 2015 Public Works Fund had a decrease in revenue,
primarily due in oil and gas leases, and increase in expenses as a result of the design build project for county road 49 .
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 $2.95 million balance at the end of 2015 down
$0.66 from its balance in 2014 due to an increased state allocation for child welfare programs.
4. Human Services Fund. The Human Services Fund accounts for various Federal and State human services grants.
Primary finding agencies are DOL, HHS, and CSA.
5. Contingent Fund. The Contingent Fund records any property tax revenue levied by the Board of County
Commissioners to cover reasonable unforeseen expenditures. The fund balance decreased by $28.40 million in 2015
including $26.00 million to reimburse the retirement fund for past admin fees paid by the retirement fund.
6. Capital Expenditure Fund. The Capital Expenditure Fund accounts for the construction of major capital facilities.
These are the construction of graders sheds, public works addition, building improvemnts and special projects.
PROPRIETARY FUNDS OVERVIEW
The County's proprietary fund statements provide the same of information found in the government -wide statements, but in
more detail.
The County has one enterprise -type fund, The Northern Colorado Regional Forensic Laboratory. The crime lab began
operations in August of 2013 and all operating expenditures were reimbursed by grant funds.
Weld County has four internal service funds. Information on these funds is aggregated in the Proprietary Fund financial
statements.
19
GENERAL FUND BUDGETARY HIGHLIGHTS
Comparison of Total Fund Balances as of December 31, 2014 and 2015
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20
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The County's budget is prepared according to Colorado statutes. The most significant budgeted fund is the General Fund.
In December of 2014, the Board of County Commissioners appropriated $138.43 million for general find expenditures and
other financing uses for 2015.
Revenue and other financing sources
Expenditures and other financing uses
Table 3
2015 General Fund Budget
(in Millions)
Original
Budget Amendments Final Budget Actual
134.36 $ 4.43 $ 138.79
138.43 $ 5.30 $ 143.73
141.05
138.56
20
During 2015 mid -year budget amendments included:
• $1.885 million for the engineering design work for WCR 49
• $4.5 million transferred to Health Fund for PERA pension liability from General Fund ($2.5 million) and Contingency
Fund (S2.0 million)
• $0.7 million in Phone Services for new VOIP
• $2.5 million transferred to Capital Expenditure Fund for building reserve and remodel of Chase Plaza
• $0.5 million for Chase Plaza operational fund and $0.9 in lease revenue
• Sheriff budget units were all realigned with the reorganization implemented by the new Sheriff
• $1.9 mullion for unanticipated grants for flood recovery and other programs
• $3.0 million for unanticipated grant revenue for Child Welfare
• $0.55 million in Solid Waste for road impacts from landfills
• Supplemental appropriations were made to various departments for salary and benefit reallocations
The increase was possible because of excess fund balance, various departments under spending their budgets, and additional
unanticipated revenues. Those revenues include building permits ($1.5 million), unanticipated grant revenues ($1.9 million),
increase in fees from Clerk and Recorder and Treasurer ($.045 million).
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets. Weld County's investment in capital assets for its governmental and business type activities as of December 31,
2015 totals $340.94 million (net of accumulated depreciation). This investment includes all land, buildings, machinery,
equipment, intangible assets and infrastructure. Total capital assets increased 14.5% in the current fiscal year.
Major capital asset events during the current fiscal year include the following:
• Road construction or major improvements totaling $63.19 million.
• Remodel of Probation Building at 918 10th Street, Greeley $0.675 million.
• North Jail improvements $0.345 million .
• Courthouse and Centennial remodel $0.83 million .
• Purchase of Downtown Greeley land $0.7 million .
• Communications tower improvements $1.6 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 12.
Long-term Debt. At December 31, 2015, 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 $347.49 million in 2015. The county currently has no debt subject to the limitation. No
new debt was issued in 2015.
Additional information on Weld County's debt can be found in Note S.
21
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 2016 budget.
• Plan and accommodate the anticipated drop in assessed valuation in 2017 due to the dramatic drop in oil prices in 2015 .
• Implement the Bright Futures program to provide financial aid to Weld County high school graduates and veterans
pursuing post high school education or training_
• Begin the two year construction of the concrete five -lane CR 49 south corridor from US 34 to 1-76 as part of a
design/build contract
• Complete road and bridge mitigation projects resulting from the 2013 flooding
• 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 2016 with a fully funded pension plan
• Restructured the Sheriff's organization and budget to accommodate the new Sheriff's vision for the office
• Add eight additional staff in order to expand the capacity of the jail to 734 beds
• Implement a new integrated public safety information system
• Fund the oil and gas revenue fluctuation reserve in the Contingency Fund at S30 million
• Add staff in the Veteran's Office to increase service level due to aging Vietnam veterans and the Iraq and Afghanistan
veterans requiring more services
• Begin charging 10% of the actual dispatching costs in 2016 to all agencies, and progressively increasing the actual cost
by 2.5% each year until 2020, when the user rates will be 20% of actual costs for dispatching
• Implement SB 15-242 which expands the Child Welfare staffing by four in reaction to the 2014 Colorado Child Welfare
Workload Study
• Medicaid caseloads have grown by 72% in the past three years, partially due to economic factors and partially due to
Colorado's implementation of the Affordable Care Act to the point 25% of county residents are on Medicaid
• Accommodate the impact of HB14-1317 on the delivery of day care
• Participate for the third year in the Title IV -E (Foster Care and Adoption Assistance Entitlement Grant) waiver project
• Continue efforts to control health care costs for county employees and their dependents
• Transfer administration of the work release pmgram from the Sheriff to Justice Services _
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of Weld County's finances for all those with an interest in the
government's finances. Questions concerning any of the information provided in this or for additional financial information
should be addressed to the Director of Finance and Administration, 1 150 O Street, Greeley, CO 80631. Request for additional
information regarding the Housing Authority should be addressed to Tom Teixeira, Executive Director, Weld Housing
Authority, 903 6th Street, Greeley, CO 80631.
22
BASIC
FINANCIAL
STATEMENTS
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Position
December 31, 2015
ASSETS
Cash and investments
Property taxes receivable
Receivables (net of allowance)
Due from other governments
Internal balances
Inventories
Other assets
Net other post employment benefits assets
Restricted assets:
Cash and equivalents
Capital assets not being depreciated
Capital assets net of depreciation
Total assets
DEFERRED OUTFLOWS OF RESOURCE
Pension Plans
Total Deferred Outflows of Resources
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
Pension Plans
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Property Taxes
Pension Plans
Total Deferred Inflows of Resources
NET POSITION
Invested in capital assets
Restricted for:
Programs
Emergencies
Claims
Public Works
Other purposes
Unrestricted
Total net position
Primary Government
Component Units
Governmental
Activities
Business -
Type
Activities
$ 170,462,951 $
184,492,969
11,982,929
3,262,726
45,138
1,331,160
921,565
860,331
370,772
66,360,525
274,582,385
Total
- $170,462,951 $
- 184,492,969
38,279 12,021,208
- 3,262,726
(45,138)
1,331,160
921,565
860,331
370,772
- 66,360,525
- 274,582,38.5
714,673,451
(6,859) 714,666,592
60,633,529
- 60,633,529
60,633,529
23,390,437
9,100,143
670,605
2,876,705
4,380
245,444
4,047,440
54,916,352
60,633,529
3,373 23,393,810
9,100,143
- 670,605
- 2,876,705
- 4,380
95,251,506
245,444
4,047,440
54,916,352
3,373 95,254,879
184,664,089
189,405
- 184,664,089
189,405
184,853,494
- 184,853,494
340,942,910
7,493,150
7,000,000
4,734,408
79,771,261
1,866,083
53,394,168
$ 495,201,980
See accompanying notes to the basic financial statements
- 340,942,910
Housing E911
Authority Authority
1,628,715 $ 1,962,415
671,029 339,421
1,158
66,514
7,872 3,234,634
2,375,288 5,536,470
71,571 922,053
14,872
86,443 922,053
7,493,150
7,000,000
4,734,408
79,771,261
1,866,083
(10,232) 53,383,936 _
$ (10,232) $ 495,191,748 $
7,872 3,234,634
2,280,973 1,379,783
2,288,845 $ 4,614,417
23
COUNTY OF WELD
STATE OF COLORADO
Statement of Activities
Year Ended December 31, 2015
Program Revenues
Primary government:
Governmental activities:
General Government
Public Safety
Streets and Highways
Health and Welfare
Culture and Recreation
Economic Assistance
Total governmental activities
Business -type activities
Regional Forensic Laboratory
Total primary government
Component units:
Housing Authority
E-91 1 Authority
Total component units
Expenses
$ 37,495,116
58,172,560
43,926,350
42,851,911
1,611,666
8,172,946
192,230,549
Charges for
Services
$ 16,052,536
12,538,210
8,907,810
26,912,220
1,045,533
558,678
66,014,987
Operating
Grants and
Contributions
Capital Grants
and
Contributions
$ 1,503,790 $
3,470,862
16,251,517
3,058,305
411,605
7,995,143
32,691,222
151,688 140,877
$192,382,237 $ 66,014,987 $ 32,832,099 $ -
$ 3,459,674 $ 75,342 $ 3,485,567 $
2,471,842 2,331,190
$ 5,931,516 $ 2,406,532 $ 3,485,567 $ -
GENERAL REVENUES
Taxes:
Property taxes
Specific ownership
Severance/Tobacco
Royalties
Miscellaneous
Unrestricted investment earnings
Total general revenues and transfers
Changes in net position
Net position - beginning
Net position - ending
See accompanying notes to the basic financial statements
24
Net (Expenses) Revenue and
Changes in Net Position
Primary Government
Governmental
Activities
Business -type
Activities
$ (19,938,790) $
(42,"163,488)
(18,767,023)
(12,881,386)
(154,528)
380,875
(93,524,340)
Total
$ (19,938,790) $
(42,"163,488)
(18,767,023)
(12,881,386)
(154,528)
380,875 _
(93,524,340)
(10,811) (10,811)
$ (93,524,340) $ (10,811) $ (93,535,151) $ - $
Component Units
Housing £911
Authority Authority
127,447,260
9,600,158
5,1 15,072
11,330,119
4,220,711
1,190,383
158,903,703
65,379,363
429,822,617
$ 495,201,980
101,235 $ -
(140,652)
- $ 101,235 $ (140,652)
127,447,260
9,600,158
5,1 15,072
11,330,119
4,220,711
1,190,383
158,903,703
(10,811) 65,368,552
579 429,823,196
$ (10,232) $ 495,191,748
7,633
7,633
9,978
9,978
108,868 (130,674)
2,179,977 4,745,091
$ 2,288,845 $ 4,614,417
COUNTY OF WELD
STATE OF COLORADO
Governmental Funds
Balance Sheet
December 31, 2015
ASSETS
Cash and Investments
Receivables (net of allowance for uncollectibles):
Property taxes receivable
Delinquent property taxes
Accounts
Special Assessment
Due From other County Funds
Advances to Other Funds
Due From other Governements
Inventory
Other Assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
Accrued Liabilities
Other Liabilities
Due to other County funds
Due to other Governments
Unearned Revenues
Unexpended Grant revenue
Total Liabilities
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 and Fund Balances
General Fund
$ 37,268,635
114,345,733
1,198,857
2,651,679
288,443
34,906
68,918 1,642,889
144,313 1,133,401
723,210 120,353
$ 156,724,694 $ 102,681,666 $ 14,473,245
Public Works
Fund
$ 76,864,691
Social Services
$ 2,501,944
9,754,621
105,895
347,543
11,624,399
2,460,212
212,257
64,695
740,861
15,102,424
115,651,606
115,651,606
867,532
8,432,222
2,071,938
736,158
13,862,814
25,970,664 70,471,169 2,948,954
$ 156,724,694 $ 102,681,666 $ 14,473,245
16,709,931
164,622
7,772,355
26,666
10,000
10,312,680
413,726
1,900
23,333
10,751,639
16,890,192
4,568,666
21,458,858
1,133,401
69,337,768
78,667
892,087
4,380
5,706
670,605
3,201
1,654,646
9,869,645
9,869,645
120,353
2,828,601
See accompanying notes to the basic financial statements
26
Other Total
Human Contingent Capital Governmental Governmental
Services Fund Expenditure Funds Funds
$ 50,950 $ 6,611,555 $ 16,149,185 $ 10,890,600 $ 150,337,560
23,295,900
80,835
2,750
476
1,550,919
24,627
16,709,931 - 180,816,116
73,563 - 1,623,772
1,100 1,167,808 11,943,235
26,666
298,919
- 34,906
- 3,262,726
1,277,714
3,460 871,650
$ 1,629,722 $ 29,988,290 $ 32,933,779 $ 12,061,868 $ 350,493,264
165,739
157,313
660
38,760
362,472
591,443 44,143 22,817,071
249,715 4,173,053
- 4,380
109,621 2,225 332,369
670,605
333,925 145,554 570,708
- - 779,621
1,034,989 441,637 29,347,807
- 23,398,536 16,799,133
24,627
1,242,623
23,398,536
- 182,609,1 12
- 4,568,666
16,799,133 - 187,177378
- - 3,460 2,149,373
- - 9,608,777 91,449,991
6,589,754 15,099,657 2,007,994 25,769,343
- - - 736,158
- - - 13,862,814
1,267,250 6,589,754 15,099,657 11,620,231 133,967,679
$ 1,629,722 $ 29,988,290 $ 32,933,779 $ 12,061,868 $ 350,493,264
COUNTY OF WELD
STATE OF COLORADO
Reconciliation of Total Governmental Fund Balances To Statement of Net Position
December 31, 2015
Total governmental fund balances
Amounts reported for governmental activities in the Statement of activities are different because:
Capital Assets used in governmental activities are not financial resources and therefore are not reported in
the funds
Long-term liabilities, including compensated absences, are not due and payable in the current period
and therefore are not reported in the funds
Compensated Absences
Pension Liability
Net Other Post Employment Benefits Asset
Deferred Inflows Pension Plans
Deferred Outflows Pension Plans
Accounts receivables that do not provide current financial resources, are offset by deferred inflows in the
funds
Internal service funds are used by management to charge the costs of insurance and other services to
individual funds_ The assets and liabilities of the internal service funds are included in governmental
activities in the statement of net position
Internal Services used by Enterprise Fund
Net position of governmental activities
See accompanying notes to the basic financial statements
$ 133,967,679
320,141,112
(4,292,884)
(54,9 1 6,352)
860,331
60,633,529
(189,405)
4,568,666
34,419,072
10,232
$ 495,201,980
28
29
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
Year Ended December 31, 2015
REVENUES:
Taxes
Licenses and Permits
Intergovernmental
Fines and Forfeitures
Charges for Services
Miscellaneous
Fees
Total Revenues
EXPENDITURES:
General Government
Public Safety
Public Works
Public Health and Welfare
Culture and Recreation
Economic Assistance
Capital Expenditures
Total Expenditures
Excess of Revenues Over (Under) Expenditures
Other Financing Sources (Uses):
Transfers - in
Transfers - out
Total Other Financing Sources (Uses)
Net Changes in Fund Balance
Fund Balances at Beginning of Year
Fund Balance at End of Year
See accompanying notes to the basic financial statements
General Fund
$ 102,986,748 $
3,716,039
6,567,075
713,139
7,465,335
7,713,391
11,802,530
140,964,257
63,856,830
54,659,691
8,784,169
260,385
1,265,028
434,497
2,464,042
131,724,642
9,239,615
85,000
6,832,647
(6,747,647)
2,491,968
23,478,696
Public Works
Fund Social Services
30,716,090
543,508
17,638,010
2,006,928
15,979,205
1,547,820
68,431,561
76,789,040
214,086
77,003,126
(8,571,565)
(8,571,565)
79,042,734
$ 8,298,019
24,810,497
33,108,516
33,760,187
9,429
33,769,616
(661,100)
(661,100)
3,610,054
$ 25,970,664 $ 70,471,169 $ 2,948,954
30
Human Services Contingent Fund
Capital
Expenditure
- $ (248,997) $
7,995,143
420,136
143,150
8,558,429
8,062,422
(248,997)
26,150,000
8,062,422 26,150,000
496,007 (26,398,997)
12,351
2,000,000
12,351 (2,000,000)
Other
Governmental
Funds
(156,215) $
1,100
126,126
209,580
180,591
131,252
3,586,331
3,717,583
(3,536,992)
Total
Governmental
Funds
16,273 $
3,469,910
21,040
3,660,804
102,311
7,270,338
1,042,582
8,694,027
358,431
40,095
10,135,135
(2,864,797)
9,403,294
667,998
8,735,296
508,358 (28,398,997)
758,892 34,988,751
(3,536,992)
18,636,649
$ 1,267,250 $ 6,589,754 $
15,099,657
5,870,499
5,749,732
141,611,918
4,259,547
60,481,735
734,179
13,553,203
24,064,183
13,559,930
258,264,695
90,138,082
55,702,273
85,573,209
42,714,599
1,623,459
8,496,919
6,313,983
290,562,524
(32,297,829)
9,500,645
9,500,645
(32,297,829)
166,265,508
$ 11,620,231 $
133,967,679
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, 2015
Net Changes in fund balances - total governmental funds $ (32,297,829)
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
69,443,821
(24,279,782)
45,"164,039
Net effect of various transactions involving capital assets (i.e. sales, disposals) is a decrease to net
position (2,208,651)
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
Pension Liability and related Deferred Inflow and Outflows
Net Other Post Employment Benefits Obligation
(288,470)
54,436,889
207,877
Accounts receivables that do not provide current financial resources, are offset by deferred inflow of
resources in the funds (532,062)
Internal service funds are used by management 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.
886,759
Internal services used by Enterprise Funds 10,811
Change in net position of governmental activities $ 65,379,363
See accompanying notes to the basic financial statements
32
COUNTY OF WELD
STATE OF COLORADO
Statement of Net Position
Proprietary Funds
December 31, 2015
ASSETS
Cash and cash equivalents
Property taxes receivable
Accounts
Due From other County Funds
Inventory
Other Assets
Total Current Assets
Capital Assets:
Improvements other than buildings
Construction in progress
Buildings
Machinery and Equipment
Accumulated Depreciation
Total Capital Assets
Total Assets
LIABILITIES AND FUND EQUITY
Current Liabilities:
Accounts Payable
Accrued Liabilities
Unearned Revenues
Adv from General Fund
Total Current Liabilities
Deferred Inflows of Resources
Property Taxes
Total Deferred Inflows
Total Liabilities
Net Position
Invested in capital assets
Restricted for:
Insurance Claims
Unrestricted
Total Net Position
Some amounts reported for business -type activities in
the statement of net assets are different because certain
internal service fund assets and liabilities are included
with business -type activities
Total Net Position
See accompanying notes to the basic financial statements
Business -type
Activities
Regional
Forensic
Laboratory
38,279
38,279
38,279
3,373
34,906
38,279
38,279
(10,232)
$ (10,232)
Governmental
Activities
Internal Service
Funds
$ 20,496,163
2,053,081
13,028
33,450
53,446
49,915
22,699,083
1,173,951
910,643
2,1 11,422
45,301,784
(28,696,002)
20,801,798
43,500,881
573,366
4,927,090
1,526,376
7,026,832
2,054,977
2,054,977
9,081,809
20,801,798
11,330,386
2,286,888
$ 34,419,072
33
COUNTY OF WELD
STATE OF COLORADO
Statement of Revenue, Expenses and
Changes in Net Position
Proprietary Funds
For the Fiscal Year Ended December 31, 2015
Operating revenues:
Employer Contributions
Charges for Services
Total Operating Revenues
Operating expenses:
Personnel Services
Supplies
Purchased Services
Insurance and Bonds
Depreciation
Other
Claims
Total operating expenses
Operating income (loss)
Nonoperating revenues (expenses):
Taxes
Earnings on investments
Miscellaneous
Grants
Gains (loss) on Disposal
Judgment and Damages
Total Nonoperating revenues (expenses)
Income (loss) before contributions or transfers
Transfers - in
Changes in Net Position
Total Net Position Beginning of Year
Total Net Position at End of Year
Some amounts reported for business -type activities in the
statement of activities are different because the net
revenue (expense) of certain internal service funds is
reported with business -type activities.
Change in net position of business -type activities
See accompanying notes to the basic financial statements
Business -type
Activities
Regional
Forensic
Laboratory
Governmental
Activities
Internal
Service Funds
- $ 18,189,712
- 11,192,402
- 29,382,114
2,813
135,256
2,808
140,877
(140,877)
140,877
140,877
310,864
1,471,946
8,476,611
684,730
4,115,324
249,755
15,736,778
31,046,008
(1,663,894)
1,956,254
28,013
2,549
430,532
98,778
34,527
2,550,653
886,759
886,759
33,532,313
- $ 34,419,072
(10,811)
$ (10,811)
34
COUNTY OF WELD
STATE OF COLORADO
Statement of Cash Flows
Proprietary Funds
For the fiscal year ended December 31, 2015
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
Judgments/damages/losses
Miscellaneous revenues
Net cash provided (used) by operating activities
CASHFLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes
Transfers/Advances
Grants
Net cash provided (used) by noncapital financing activities
Business -type
Activity
Enterprise Fund
Regional Forensic Laboratory
ga
(26,188)
(111,316)
(137,504)
(1,251)
138,755
137,504
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
Judgments/damages/losses
Miscellaneous revenue
Change in assets and liabilities
(Increase) decrease in accounts receivable
(Increase) decrease in due from other funds
(Increase) decrease in inventories
(Increase) decrease in other assets
Increase (decrease) in accounts payable
Increase (decrease) in accrued liabilities
Increase (decrease) in other liabilities
Increase (decrease) in deferred revenue
Total adjustments
Net cash provided (used) by operating activities
Noncash investing, capital, and financing activities:
Contributions of capital assets from (to) government
Loss on Disposal of Asset
See Accompanying notes to the basic financial statements
See accompanying notes to the basic financial statements
ga
mI
ga
mI
mI
(140,877)
ga
3,373
3,373
(137,504)
im
Governmental
Activites
Internal
Service Funds
97,245
29,109, 633
(24,930,821)
(1,210, 723)
(301,110)
34,527
2.549
2,801, 300
1,954,981
440,053
2,395, 034
(4,374,691)
263,597
(4,111,094)
28,013
1,113,253
19,382,910
20,496,163
(1,663, 894)
4,115, 324
34,527
2,549
(21, 331)
(33,450)
3,883
18,936
43,621
146,731
154,404
4,465,194
2,801,300
71,501
35
COUNTY OF WELD
STATE OF COLORADO
Statement of Fiduciary Net Position
Fiduciary Funds
December 31, 2015
Weld County
Other Post
Employment
Agency Funds Retirement Benefits
ASSETS
Cash and cash equivalents
Accounts Receivable (net of allowance for uncollectible):
Restricted Assets
Restricted Cash
Restricted Investments
Total Assets
LIABILITIES AND NET POSITION
Accounts Payable
Due to other Governments
Total Liabilities
Net Position Restricted for Pension
Net Position Restricted for Other Post Employment Benefits
TOTAL NET POSITION
See accompanying notes to the basic financial statements
$ 9,724,221 $
6,805
- $
- 2,124,215 1,487,562
232,157,558
$ 9,731,026 $ 234,281,773 $ 1,487,562
$ 205,992 $ 24,426 $
9,525,034
$ 9,731,026 $ 24,426 $
234,257,347
1,487,562
$ 234,257,347 $ 1,487,562
36
COUNTY OF WELD
STATE OF COLORADO
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Fiscal Year Ended December 31, 2015
Weld County
Other Post
Employment
Retirement Benefits
Additions:
Employer Contributions
Employee Contributions
Earnings on Investments, net of investment
related expenses of $337,127 and SO
Net Depreciation in Value of investments
Total Additions
Deductions:
Actuarial Fees
Benefit Payments
Supplies
Total Deductions
Change in Net Assets
Net Position - Beginning
Net Position - Ending
See accompanying notes to the basic financial statements
$ 58,861,621 $
7,710,757 65,382
8,058,654 11,712
(10,770,242)
63,860,790 77,094
69,669
14,677,106 399,487
4,552
14,751,327 399,487
49,109,463 (322,393)
185,147,884 1,809,955
$ 234,257,347
$ 1,487,562
37
NOTES TO THE FINANCIAL STATEMENTS
t t
c
O�
lei G r 6L
r _ K�4yh
38
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Note 1 - Summary of Significant Accounting Policies:
The County of Weld, Colorado ("County") was established in 1861, and on January 1, 1976, became a home rule county
under the provisions of Section 30-35-501, CRS, 1973. The County operates under an elected commissioner form of
government. The County provides the full range of services contemplated by statute or charter. These include general
goverrunent functions, public protection and safety, health, social services, human resource services, public
improvements, road and bridge operations, planning and zoning, and general administrative services.
The financial statements of the County have been prepared in conformity with generally accepted accounting principles
(GA AP) as applied to governmental units. The following summary of significant accounting policies is presented to
assist the reader in evaluating the County's financial statements.
A. Reporting Entity:
Weld County is a political subdivision of the State of Colorado, governed by an elected five -member Board of County
Commissioners. There are also four other elected officials of Weld County (Assessor, Clerk and Recorder, District
Attorney, and Sheriff).
The accompanying financial statements present the government and its component units, entities for which the
government is considered to be financially accountable. Blended component units, although legally separate entities, are,
in substance, part of the government's operations. Each discretely presented component unit is reported in a separate
column in the government -wide financial statements (see note below for description) to emphasize that it is legally
separate from the government.
Discretely presented component units:
The Weld County Housing Authority is responsible for assisting Weld County residents with housing assistance. The
Board of County Commissioners appoints all of the five -member Housing Authority Board, The County has the ability
to remove any of the appointed board members, they can modify decisions made by the board and can hire or fire
persons responsible for the day to day operations. The Weld County Housing Authority is governed by state regulations,
but was designated as part of the County for budgetary and audit purposes by an act of the Colorado General Assembly
in 1989. A complete set of financial statements can be obtained at the entity's administrative offices:
Weld County Housing Authority
903 6th Street
Greeley, CO 80631
The E911 Emergency Telephone Service Authority Board was created by intergovernmental agreements pursuant to
Article 11 of Title 29, C.R.S., as amended, that authorizes the county, municipalities within the county, and special
districts within the county to enter into an agreement for the purpose of providing 911 emergency telephone services.
Per the state statute cited above, the agreement creates a separate legal entity which is responsible for administering the
operations of the 911 emergency telephone service program in Weld County. The authority board consists of seven
members with four selected by the Weld County Commissioners, one member each is selected by the City of Greeley,
City of Fort Lupton and Weld County Sheriff. Under the by-laws of E911 Authority, Weld County is required to pay all
operating costs. They are to maintain all accounts and have accounts audited. State statute requires that all funds be
maintained by the Weld County Treasurer. The operation of the E911 authority is done contractually by the Weld
County Communication Regional Center. There are no separate financial statements prepared for the E911 component
unit.
39
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Because they provide services to or otherwise benefit Weld County, the financial statements of the following
organizations are blended into the County financial statements:
Weld County Retirement Plan — The Retirement Board consists of five members, two selected by participating
employees, two appointed by the Board of County Commissioners, and the fifth being the County Treasurer, The
County funds half of the retirement plan, which covers substantially all permanent, full-time employees of Weld
County. The operation of the plan is accounted for in the Weld County Retirement Fund, as a Pension Trust
Fund, Complete Financial statements can be obtained at the Weld County Treasurer's Office:
Weld County Treasurer's Office
1400 North 17th Avenue
Greeley, CO 80631
Weld County Finance Corporation — The Weld County Finance Corporation ("Corporation") was formed in 1987
as a not -for-profit corporation under section 501(c)(4)of the Internal Revenue Code, and exists solely to acquire
real estate and construct buildings for lease to the County. The Board of County Commissioners appoints the
three -member Board of Directors of the Corporation, and approves all projects undertaken by the Corporation.
The members of the Board of Directors are employees of the County. There are no separate financial statements
prepared for the Weld County Finance Corporation.
The Law Enforcement Authorities (LEA) were formed in accordance with Section 30-11-401, CRS. The law
enforcement authorities are taxing units created by the county to provide additional law enforcement services by
the county sheriff to residents in developed unincorporated areas of the county. The governing board of the law
enforcement authorities is the five Weld County Commissioners. Law enforcement services to the authority are
provided contractually by the county sheriff There are no separate financial statements prepared for the Law
Enforcement Authorities.
The Local Improvement Districts (LID) have not been included in the County's financial statements individually,
as they are immaterial, but are included as a blended component unit of Public Works, a special revenue fund.
The Board of County Commissioners can create these assessment districts to construct or rehabilitate and finance
public streets, storm drainage, water systems, sanitary sewer, or street lighting. The Primary purpose of an LID is
to assess the costs of public improvements to those who are specially benefited by the improvement. The LID
exists only as geographic area within which improvements are constructed and as an administrative subdivision
of the county. Having no board of directors, they do not operate in any capacity as an independent governmental
entity. The county governing board, Board of County Commissioners, makes all decisions on behalf of this
administrative entity. There are no separate financial statements prepared for the Local Improvement Districts.
The following related organizations are excluded from the accompanying financial statements because the County's
accountability for these organizations does not extend beyond various appointments.
North Colorado Medical Center — The Board of County Commissioners owns land underlying the main facility of
the Medical Center, which land is currently leased to the Colorado Hospital Finance Authority as part of the
security for financing the bonded indebtedness of the Medical Center. The indebtedness is not an obligation of
the Board of County Commissioners and no taxpayer funds or Board of County Commissioners funds are
obligated to pay any portion of the principal, premium or interest on the Bonds. The land is leased back from the
Authority to the Board of Trustees, a seven member Hospital Board of Trustees appointed by the Board of
County Commissioners. The Hospital Board of Trustees has entered into an operating sublease of the ground and
facilities with NCMC, Inc., a 501(c)(3)entity, with three of its members also serving on the Board of Trustees,
which, in turn, has contracted with Banner Health Systems to operate the Medical Center. NCMC has the ability
to incur its own debt and its operations are financed totally by patient revenues.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Greeley -Weld Airport Authority — The County Commissioners appoint two of the five Airport Authority Board
members. The County has contributed approximately 5% of the funds for capital construction. The Authority has
full autonomy under Colorado State law, can incur debt, and funds its operations totally from user fees.
Weld Library District — The County Commissioners, together with the concurrence of the city councils of seven
participating municipalities, appoint the seven -member Library District Board. The Library District Board has
total autonomy under the State Library Act to incur debt, establish budgets, and levy property taxes to support the
District's library system.
Colorado Counties Casualty and Property Pool (hereinafter referred to as "CAPP")-CAPP was formed July 1,
1986, by an intergovernmental agreement by member counties as a separate and independent governmental and
legal entity pursuant to the provisions of Article XIV, Section 18(2) of the Colorado Constitution and Section 29-
1-201 et seq, 24-10-115.5, and 29-13-102, CRS, as amended. Each member county in this intergovernmental
agreement has the power under Colorado law to make provision for the property and casualty coverage which
constitute the functions and services jointly provided by means of the CAPP. The Insurance Commissioner of the
State of Colorado has such authority with respect to the CAPP as is provided by applicable Colorado statutes.
The purposes of the CAPP are to provide a risk management fund for defined property and casualty coverage and
to assist members in controlling costs by providing specialized governmental risk management services and
systems.
It is the intent of the members to use member contributions to defend and indemnify, in accordance with the
bylaws, any member against states liability or loss to the limit of the financial resources of the risk management
fund. It is also the intent of the members to have CAPP provide needed coverage at reasonable costs. All income
and assets of CAPP shall be at all times dedicated to the exclusive benefit of its members. Weld County, through
its Insurance Internal Service Fund, recognizes an expense for the amount paid to CAPP annually for these
coverages.
Weld County is a charter member of CAPP and has been a continuous member since July 1, 1986_
B. Government -wide Financial Statements
The County's basic financial statements consist of government -wide statements, including a statement of net position
and a statement of activities, and fund financial statements which provide a more detailed level of financial information.
The government -wide focus is more on the sustainability of the County as an entity and the change in aggregate financial
position resulting from activities of the fiscal period.
The statement of net position and the statement of activities display information about the county as a whole. In the
government -wide statement of net position, both the governmental and business -type activities columns are presented on
a consolidated basis by column. These statements include the financial activities of the primary government, except for
fiduciary activities. For the most part, the effect of interfund activity has been removed from these statements.
Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately
from business -type activities, which rely to a significant extent on fees and charges for support.
The government -wide statement of activities reflects both the direct expenses and net cost of each function of the
County's governmental activities and business -like activity. Direct expenses are those that are clearly identifiable with a
specific function. Program revenues include charges paid by the recipient for the goods or services offered by the
program. Direct expenses and program revenues resulting from interfund activity are treated as such in the participating
funds and are not eliminated as part of the consolidation process. Grants and contributions that are restricted to meeting
the operational or capital requirements of a particular program and interest earned on grants that is required to be used to
support a particular program are included in operating grants and contributions, or capital grants and contributions.
Revenues which are not classified as program revenues are presented as general revenues of the County, with certain
limited exceptions. The comparison of direct expenses with program revenues identifies the extent to which each
government function or business segment is self-financing or draws from the general revenues of the County.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Fund Financial Statements
The financial transactions of the County are recorded in individual funds. A fund is defined as a fiscal and accounting
entity with a self balancing set of accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures or
expenses, as appropriate. Separate statements for each fund category — governmental, proprietary, and fiduciary — are
presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a
separate column. All remaining governmental and enterprise funds are aggregated and presented as non -major funds.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and
expenses generally result from providing services and producing and delivering goods in connection with a proprietary
fund's principal ongoing operations. The principal operating revenues of the Northern Colorado Regional Forensic
Laboratory enterprise fund and of the government's internal service funds are charges to customers for sales and
services. Operating expenses for enterprise funds and internal service funds include the cost of sales and services,
administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are
reported as nonoperating revenues and expenses.
C. Measurement Focus
Government -wide, Prorietary and Fiduciary Fund Financial Statements
The government -wide financial statements are reported using the economic resources measurement focus and the accrual
basis of accounting, as are the proprietary fund and fiduciary fund statements. Revenues are recorded when earned and
expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the County gives (or receives) value without directly receiving (or giving) equal
value in exchange, include property taxes, grants, and donations. Revenues from property taxes are recognized in the
fiscal year for which the taxes are levied. Revenue from grants and donations is recognized in the fiscal year in which all
eligibility requirements have been satisfied
Under the terms of grant agreements, the County funds certain programs by a combination of specific cost -
reimbursement grants, categorical block grants, and general revenues. Thus, when program expenses are incurred, there
are both restricted and unrestricted net assets available to finance the program. It is the County's policy to first apply
cost - reimbursement grant resources to such programs, followed by categorical block grants, and then by general
revenues.
Governmental fund financial statements are reported using the current financial resources measurement focus and the
modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available.
Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to
pay liabilities of the current period. For this purpose, the government considers revenues, except for property taxes, to
be available if they are collected within 90 days of the end of the current fiscal period. Property taxes are considered
available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded
when a liability is incurred, as under accrual accounting. However expenditures related to compensated absences and
claims and judgments, are recorded only when payment is due.
Property taxes, licenses, grants, and interest associated with the current fiscal period are all considered to be susceptible
to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments
receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.
All other revenue items are considered to be measurable and available only when cash is received by the government.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
The County reports the following major governmental funds:
The General Fund is the general operating fund of the County which accounts for all financial resources that are
not accounted for in other funds. Operations of the County such as public safety, planning and zoning, property
valuation, tax collection and distribution, vehicle licensing, County administration, and other activities financed
from taxes and general revenues are reflected in this fund.
The Public Works Fund records costs related to County road and bridge construction and maintenance except for
engineering, which is recorded in the General Fund. By State law, Colorado counties are required to maintain a
Road and Bridge Fund and a portion of road and bridge taxes is allocated to cities and towns for use in their road
and street activities.
The Social Services Fund administers human services programs under state and federal regulations. Programs
include, but are not limited to, Medicaid, Food Stamps, Foster Care programs, and Temporary Assistance to
Needy Families (TANF). Colorado counties are required by state law to maintain a Social Services Fund. The
Social Service fund is funded by state and federal grants as well as property taxes.
The Human Services Fund primary programs are associated with the Workforce Investment Act (WIA) funded
under the Department of Labor, Employment and Training Administration.
The Contingent Fund records any property tax revenue levied by the Board of County Commissioners to cover
reasonably unforeseen expenditures_
The Capital Expenditures Fund accounts for all the County's construction projects. The County chooses to use
the pay as you go plan instead of debt. Property taxes are used to fund the Law Enforcement Center and the
expansion of the Detention Center.
The County reports the following enterprise fund:
The Northern Colorado Regional Forensic Laboratory Fund accounts for all of the maintenance and operation
costs for the Northern Colorado Regional Forensic Laboratory. It is funded by rent paid by the participating
agencies.
The County also reports the following fund types:
The Internal Service Funds account for the financing of goods or services provided by one department or agency
to other departments or agencies of the County on a cost reimbursement basis. The County's internal service
funds report on self-insurance programs for employee health, dental and vision benefits, risk management,
unemployment, fleet services, telecommunications and acquisitions of real estate and construction of buildings
used by County departments.
Services provided and used by internal services funds are not entirely eliminated from the government -wide
statement of activities. The primary government program expenses and expenses for the business -type activities
on the government -wide statement of activities are decreased to eliminate revenue over expenditures in service
funds where revenues exceed expenditures and increased to eliminate internal service funds that have
expenditures in excess of revenues.
The Agency Funds account for assets held by the County as an agent for individuals, private organizations and
other governments. These funds are custodial in nature (assets equal liabilities) and do not involve measurement
of results of operations. The County has funds held for other local governmental units, employee/employer
payroll taxes, a Section 125 plan, and the Weld County Federal Mineral Lease District.
The Fiduciary Trust Funds account for the activities of the Weld County Retirement Plan and the Weld County
Other Post Employment Benefit Plans. These funds accumulate resources for pension benefit, and other post
employment benefit payments to qualified county employees. The Plans use the accrual basis of accounting.
Employee and employer contributions are recognized as revenues in the period in which the contributions are
due. Benefits and refunds are recognized when due and payable in accordance with terms of the Plan.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
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-91 I
Authority are stated at fair value. Any bank accounts not maintained by the Treasurer are displayed as "Restricted
Assets" within the appropriate fund and are stated at cost.
The County considers cash and cash equivalents in proprietary funds to be cash on hand and demand deposits. In
addition, because the treasury pool is sufficiently liquid to permit withdrawal of cash at any time without prior notice or
penalty, equity in the pool is also deemed to be a cash equivalent.
For the purpose of cash flows, cash and cash equivalents are determined by original maturity of three months.
Investments are reported at fair values using quoted market prices.
2. Property Taxes
Property taxes attach as an enforceable lien on property as of January 1. Taxes were levied on December 21, 2015, and
are payable either in two installments due on February 28 and June 15 or in full on April 30. The bill becomes
delinquent on March 1, May 1, and June 16 and penalties and interest may be assessed by the County. The County,
through the Weld County Treasurer, bills and collects its own property taxes, as well as property taxes of all other taxing
authorities within the County. In accordance with Section 14-7 of the Weld County Home Rule Charter, all ad valorem
tax levies for County purposes, when applied to the total valuation for assessment of the County, shall be reduced so as
to prohibit the levying of a greater amount of tax revenue than was levied from ad valorem taxation in the preceding year
plus five percent (5%), except to provide for the payment of bonds and interest. The Board of County Commissioners
may submit the question of an increased levy to the County Council and, if in the opinion of a majority of the County
Council may grant an increased levy for the County in such amount as it deems appropriate, and the County is
authorized to make such increased levy.
Any one capital project requiring a capital expenditure out of funds procured by ad valorem taxation equal to a three
mill levy for three years, shall be prohibited unless approved by a majority vote of the qualified electors at a general or
special election per Section 14-8 of the Weld County Home Rule Charter.
3. lnterfund Transactions
Transactions between finds 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 fiords 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 finds are reported as
"due to/from other funds". Interfund balances are generally expected to be repaid within one year of the financial
statement date. Any residual balances outstanding between the governmental activities and business -type activities are
reported in the government -wide financial statements as "internal balances".
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
4. Inventories and Prepaid Items
Inventories of governmental funds, which consist of expendable materials held for consumption, are stated at cost
utilizing the weighted average cost method. These funds follow the consumption method of accounting whereby
expenditures are recorded at the time the inventory items are used.
Inventories of proprietary funds are recorded at average cost.
Certain payments to vendors reflect cost applicable to future accounting periods and are recorded as prepaid items in
both government -wide and fund financial statements. The consumptive method of accounting is used to recognize these
expenses in the funds.
5. Capital Assets
Capital assets, which include property, plant, equipment, intangible assets (computer software and right of ways for land
use), and infrastructure assets (e.g., roads, bridges and similar items), are reported in the applicable governmental or
business -type activities columns in the government -wide financial statements. Capital assets are defined by the County
as assets with an initial, individual cost of more than $5,000 and a useful life of more than one year. All capital assets are
valued at historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets are
recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets' lives
are not capitalized.
All reported capital assets, except for gravel roads and intangible assets are depreciated. Improvements are depreciated
over the remaining useful lives of the related capital assets. Depreciation on all assets is provided on the straight-line
basis over the following estimated useful lives:
Buildings
Improvements
Infrastructure - Bridges
Infrastructure - Roads
Equipment
Heavy Equipment
20 - 50 years
20 years
50 years
20 years
3 - 5 years
10 - 20 years
Statement 34 allows an alternative approach which would reflect a reasonable value of the asset and the cost incurred to
maintain the service potential to locally established minimum standards in lieu of depreciation. To elect this option, the
County must develop and implement an asset management system which measures, at least every third year by class of
asset, if the minimum standards are being maintained. Related disclosures are additionally required as part of the
Required Supplementary Information. The County has elected to use the alternative approach only for gravel roads.
6. Compensated Absences
County employees accumulate sick leave and vacation benefits at rates of 8 hours per month and 8 to 16 hours per
month, respectively, depending on length of service. In the event of retirement or termination, an employee is paid 100%
of accumulated vacation pay. An employee whose date of hire is prior to January 1, 1985, is paid for 50% of
accumulated sick leave hours up to the equivalent of one month; if the employee's date of hire is after January 1, 1985,
no sick leave is paid upon retirement or termination. Up to 320 hours of annual vacation may be carried over from one
year to the next. Compensatory time is granted (except for official, professional, and administrative positions) at the rate
of one and one-half hours for each overtime hour worked, not to be accumulated in excess of forty hours.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
The unpaid sick leave, vacation pay and related benefits at the end of the period will generally not be paid with
expendable and available resources. Proprietary funds accrue sick leave, vacation pay and related benefits in the period
they arc earned by the employees.
The entire compensated absence liability is reported on the government -wide financial statements. Expenditures and
liabilities for compensated absences are reported on the government fund statements only when the liability for the
compensated absences becomes due.
7. Long-term obligations
In the government -wide financial statements and proprietary fund types in the fund financial statements, long-term debt
and other long-term obligations are reported as liabilities in the applicable governmental activities, business -type
activities, or proprietary fund type statement of net position.
8. Fund Equity
The Governmental Accounting Standards Board (GASB) has issued Statement No. 54, Fund Balance Reporting and
Governmental Fund Type Definitions (GASB 54), As prescribed by GASB Statement 54 governmental funds report
find 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, 2015, find 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
S. Unassigned fund balance is the residual classification for find balance and includes all spendable amounts not
contained in the other classifications. Unassigned amounts are technically available for any purpose. The
County's General Fund is the only fund that carries a balance in this category.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Order of Fund Balance Spending Policy
The County's policy is to utilize funds in the following order: restricted fund balance, committed fund balance, assigned
fund balance, and unassigned fund balance.
The Board of County Commissioners adopted the County Fund Balance Policy on December 14, 2011, nunc pro tunc
January 1, 2011. The policy was created to help reduce the negative impact on the County in times of economic
uncertainty, major fluctuations in oil and gas assessed valuations, and potential losses of funding from other
governmental agencies, The policy established minimum requirements for reserves and guidelines for the use of certain
funds. The reserves and restrictions are also consistent with the requirements under Colorado statute or state
constitutional requirements.
The County Fund Balance Policy requires the following:
• Any remaining fund balance following all restrictions and commitments in the Health Fund shall be assigned
for the purpose of future health programs for the benefit of the citizens of Weld County.
• Any remaining find balance following all restrictions and commitments in the Social Services Fund shall be
assigned for the purpose of future welfare programs for the benefit of the citizens of Weld County
• Any remaining fund balance following all restrictions and commitments in the Human Services Fund shall be
assigned for the purpose of future welfare, senior, and employment programs for the benefit of the citizens of
Weld County
• The Contingency Fund shall maintain a minimum fund balance to cover a minimum ten (10) percent of the
annual expenditures and maximum of twenty (20) percent of the annual total expenditures as determined by the
Director of Finance and Administration to provide: ("1) a reasonable level of assurance that Weld County's
operations will continue even if circumstances occur where revenues are insufficient in an amount that is equal
to at least one -percent of annual expenditures to cover necessary expenses for public safety, public welfare and
public works; (2) there is a major reduction in oil and gas assessed valuations; or (3)there are other unexpected
needs or emergency situations costing an amount that is equal to at least one -percent of annual total
expenditures that do not routinely occur. The Contingency Fund shall be funded by property tax with a half -mill
applied to the county's assessed value annually, unless the Board of Weld County Commissioners adjusts the
amount in the annual budget process.
• The three -percent TABOR emergency reserve required by Article X, Section 20(5) of the Colorado
Constitution shall be a restricted fund balance in the General Fund in an amount equal to seven million dollars
or three -percent of the TABOR revenue limit, whichever is greater,
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Fund balances for all major and non -major governmental funds as of December 31, 2015, are distributed as follows:
Nonsnendable
Inventory
Prepaid Expenses
Total Nonspendable
Restricted for
Public Works
Health
Social Services
Human Services
TABOR Reserve
Other Purposes
Total Restricted
Committed to
Capital Projects
Solid Waste Disposal
General Contingencies
Economic Development
Total Commitments
Assigned
Appropriations in budget
Total Assigned
General
Public Social
Works Services
144,322 1,133,401
723,210
120,353
867,532 1,133,401 120,353
- 69,337,768
7,000,000
1,432,222
2,828,601
8,432,222 69,337,768 2,828,601
2,071,938
2,071,938
736,158
736,158
Unassigned 13,862,814
Total Fund Balance 25,970,664 70,471,169 2,948,954
48
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Human Capital
Services Contingent Expenditures Non Major Total
24,627
1,277,723
3,460 871,650
24,627 - - 3,460 2,149,373
1,242,623
- 69,337,768
9,174,916 9,174,916
- 2,828,601
- 1,242,623
7,000,000
433,861 1,866,083
1,242,623 - - 9,608,777 91,449,991
6,589,754
15,099,657
15,099,657
2,007,994 2,007,994
6,589,754
- 2,071,938
6,589,754 15,099,657 2,007,994 25,769,343
736,158
736,158
- 13,862,814
1,267,250 6,589,754 15,099,657 11,620,231 133,967,679
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
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, 20"15, the county's General Fund has a
total of $1,581,113 in encumbrances, which were reported as part of the assigned fund balance on the governmental fund
balance sheet. Encumbrance balances by major funds and non -major funds as of December 31, 2015 are:
Restricted Committed
General Fund $
Public Works
Capital
Non Major
Total
9. Net Position
2,356,141
2,356,141
Assigned Total
- $ 736,158 $
462,406
39,296
501,702
736,158
2,356,141
462,406
39,296
736,158 3,594,001
Net position represents the difference between assets and liabilities. Net position invested in capital assets, net of related
debt consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowing
used for the acquisition construction of improvements of those assets. Net position is reported as restricted when there
are limitations imposed on its use either through the enabling legislation adopted by the County or through external
restrictions imposed by creditors, grantors, laws or regulations of other governments.
The County first applies restricted resources when an expense is incurred for purposes for which both restricted and
unrestricted net position is available.
10. Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the amounts reported in the financial statements and
accompanying notes. Actual results may differ from those estimates.
Note 2 - Stewardship, Compliance, and Accountability
A. Budgetary information
An annual budget and appropriation ordinance is adopted by the Board of County Commissioners in accordance with the
Colorado State Budget Act and Weld County Home Rule Charter. The budget is prepared on a basis consistent with
generally accepted accounting principles. Budgets are established for all Governmental funds, internal Service funds and
the Enterprise Fund. The accounting system is employed as a budgetary management control device during the year to
monitor the individual departments_ The fund level is the level of classification at which expenditures may not legally
exceed appropriations, except for the General Fund where the department level of expenditures cannot legally exceed
appropriations. During the year, several supplemental appropriations were necessary. All annual appropriations lapse at
year end.
50
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
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 2015, two supplemental appropriation
ordinances were enacted. Budget amounts reported in the accompanying required supplemental information reflect these
supplemental appropriations.
B. Excess of expenditures over appropriations
Excesses of expenditures over appropriations in General Fund departments can be seen in the expenditures section of the
Schedule of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual.
Expenditures exceeded appropriations in the Law Enforcement Authority funds (Special Revenue). The excess
expenditures in the law enforcement funds were a result of excess funds being available at the end of the year. The
purpose of the law enforcement authorities is to collect taxes to fund law enforcement services in unincorporated parts of
Weld County and any excess funds can be used to offset the cost of law enforcement.
In the Internal Service funds expenditures exceeded appropriations in the Motor Pool and Insurance funds. In the Motor
Pool fund fleet depreciation was higher than budgeted as the County fleet expanded, and purchased services were higher
than estimated for the year, in the Insurance fund.
Note 3 - Equity in Pooled Cash and Investments
A. Cash and Investments
Cash and investments held by the Treasurer's office at December 31, 2015 as reported by the financial institutions,
consisted of the following:
Deposits
Investments:
FFCB 15,000,000
FHLB 5,000,000
FHLM 39,990,000
FNMA 64,990,000
$ 64,924,912
124,980,000
Total $ 189,904,912
Cash and investments held by the Treasurer's office at December 31, 2015, excluding outstanding warrants, reported in
government -wide and agency funds consisted of the following:
Government -wide $172,012,065
Agency and Fiduciary funds 17,892,847
Total $189,904,912
B. Deposits
The Colorado Public Deposit Protection Act (PDPA) requires that all local governments deposit cash in eligible public
depositories. Eligibility is determined by state regulations. The State regulatory commissioners regulate the eligible
public depositories. Amounts on deposit in excess of federal insurance levels must be collateralized by eligible collateral
as determined by the PDPA. PDPA allows the financial institutions to create a single collateral pool for all public funds
held. The pool is to be maintained by another institution, or held in trust for all the uninsured public deposits as a group.
The market value of the collateral must be at least equal to 102% of the uninsured deposits. At December 31, 2015, the
County had deposits of $89,904,912 collateralized with securities held by the financial institutions' agents but not in the
County name.
51
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
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,
2015, the County had the following investments:
Investment Maturities (in Years)
1 or less $ 0
1 -3 yrs. 74,970,000
3 - 5 yrs. 50,010,000
$124,980,000
Money Market $ 64,924,912
Total $189,904,912
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, 2015, the County investments in the Federal Farm Credit Bank,
Federal Home Loan Mortgage and Federal National Mortgage Association were rated AAA by Standard & Poor's.
Federal Home Loan Bank investments were rated AA+ by Standard & Poor's at December 31, 2014. Money Market
Funds were managed by Wells Fargo Bank in accordance with state regulations pledged at 105% 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, 2015, the County's
investments in Federal Farm Credit Bank, Federal Home Loan Bank, Federal Home Loan Mortgage, and Federal
National Mortgage Association and Federal Home Loan Mortgage represented 12.0%, 4.0%, 32.0% and 58.0%,
respectively of the County's total investments.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
F. Interest Rate Risk
State Statutes limit the maximum maturity date unless an exception is made by the county commissioners, which does
not exist at the present time, to five years. The weighted average maturity in the portfolio on December 31, 2015 was
3.18 years. This factor combined with the high quality credit risk of the portfolio limit interest rate risk to a very small
percentage of the portfolio, In fact, at year end the average mark -to -the -market was within one percent of the county's
basis.
G. Money Market Funds in Bank Account
The County had $22,366,540 invested in overnight pooled money with Wells Fargo on December 31, 2015. The
County's investment at Wells Fargo is a direct obligation of the bank and the fiends 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 fiends 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, 2015 restricted cash balance of $370,772 is made up of $65,000 advanced to cover insurance claims
and $305,772 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 $1,628,715 at December 31, 2015. Bank and
investment balances before reconciling items were $1,625,715 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 $ 1,628,715
Restricted cash consists of tenant section 8 HAP reserves and escrow.
The available cash balance of $1,962,415 for the E911 authority is included in the Agency and Fiduciary Fund Cash
balance of $17,892,847 held at the Weld County Treasurers Office listed above.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
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
Internal Service
Internal Service
Transfers in/out
Payable Fund
Social Services $ 380
Human Services 10
Capital 99,621
Capital 10,000
Social Services 476
General Fund
Public Works
Social Services
Health
Internal Service
Capital
23,825
1,900
4,850
2,225
650
$ 143,937
Transfers are indicative of funding for capital projects or subsidies of various County operations and re -allocation of
special revenues. The following schedule briefly summarizes the County's transfer activity:
Transfer From:
Contingent
General Fund Fund
Transfer To:
General Fund $
Human Services 12,351
Non -Major Government 6,820,296
Non -Major Total
Governmental
$ - $ 85,000 $ 85,000
- - 12,351
2,000,000 582,998 9,403,294
$ 6,832,647 $ 2,000,000 $ 667,998 $ 9,500,645
54
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Note 5 - Allowance for Uncollectible Accounts Receivable
The allowance for uncollectible receivables consists of the following at December 31, 2015:
Fund Type
General
Public Works
Social Services
Contingent
Capital Expenditures
Internal Service
Total
Allowance for
Uncollectible
$ 307,229
42,144
27,770
20,350
19,324
7,010
$ 423,827
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Note 6 - Capital Assets
Capital asset activity for the year ended December 31, 2015, was as follows:
Governmental activities
Capital Assets not being depreciated
Land and water rights
Intangible Assets
Gravel Roads
Construction in progress
Total capital assets not being depreciated
Capital assets being depreciated:
Buildings
Improvements
Equipment
Infrastructure
Total capital assets being depreciated
Less accumulated depreciation
Buildings
imporvements
Equipment
Infrastructure
Total accumulated depreciation
Total capital assets being depreciated, net
Governmental activities capital assets, net
Beginning
Balance
$ 8,776,363
1,839,538
14,899,213
13,198,295
38,713,409
145,949,730
15,719,059
61,760,318
364,473,854
587,902,961
42,527,612
4,207,813
32,871,631
249,1 16,339
328,723,395
259,179,566
Increases
Transfers In
Decreases (Out)
$ 91,652 $
689,339
2,040,475
29,961,859 _
32,783,325
2,205,163
59,465
5,553,606
33,216,951
41,035,185
- 323,170
11,391 (34,776)
4,749 (5,408,463)
16,140 (5,120,069)
2,31 1,331
4,627,960
1,426,799
1,489,654
2,203,616
6,939,291 5,120,069
3,584,279
680,669
5,829,522 2,1 18,787
18,300,638 2,463,177
28,395,108 4,581,964
12,640,077
Ending
Balance
$ 8,868,015
2,852,047
16,893,521
37,746,942
66,360,525
149,581,692
15,778,524
66,492,247
395,266,461
627,1 18,924
46,1 1 1,891
4,888,482
36,582,366
264,953,800
- 352,536,539
2,357,327 5,120,069
$ 297,892,975 $ 45,423,402 $ 2,373,467 $
274,582,385
- $ 340,942,910
56
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Housing Authority
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Equipment
Total accumulated depreciation
Total capital assets being depreciated, net
Housing Authority capital assets, net
E-911 Assets:
Capital assets being depreciated:
Equipment
Total capital assets being depreciated
Less accumulated depreciation
Equipment
Total accumulated depreciation
Total capital assets being depreciated, net
E-911 capital assets, net
Beginning
Balance Increases
Transfers In
Decreases (Out)
$ 25,182 $ 1,324 $
25,182 1,324
17,28.5 1,349
17,285
7,897
1,349
(25)
$ 7,897 $
(25) $
$ 5,177,317 $
5,177,317
1,479,119
1,479,119
3,698,198
$ 3,698,198 $
463,562
463,562
(463,562)
- $
Ending
Balance
$ 26,506
26,506
18,634
18,634
7,872
- $ 7,872
- $
(463,562) $
$ 5,177,317
5,177,317
1,942,681
1,942,681
3,234,636
$ 3,234,636
57
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Depreciation expense was charged to functions/programs of the primary 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:
$ 2,195,679
2,808,001
18,768,805
22,g82
10,166
474,249
4,115,324
$ 28,395,106
1,349
463,562
$ 464,911
The County is exposed to various risks of loss related to torts; theft of, damage to, or destruction of assets; and errors or
omissions. These activities are accounted for in the Insurance Fund, an internal service fund. A liability for a claim is
established if information indicates that it is probable that a liability has been incurred at the date of the financial
statements and the amount of the loss is reasonably estimable.
Insurance coverages have not been significantly reduced from prior years and settlements have not exceeded insurance
coverage in the past three years.
The County manages risks of loss through a combination of commercial insurance, participation in a public entity risk
pool, (See Note 1) and self-insurance. These activities are accounted for in the Insurance Fund, an internal service fund.
The County provides health, dental and vision insurance benefits to employees, which are funded by employee and
employer contributions. These activities are accounted for in the Health Insurance Fund, an internal service fiend.
Workers' Compensation coverage is partially self -insured, with insurance coverage of a $750,000 self -insured retention.
Estimated liabilities for claims made and claims incurred but not reported (1BNR) at year-end are shown as accrued
liabilities in the fund. These estimates are based upon a third -party administrator's review of claims and actuarial
projections from historical claims data. Changes in the balances of claims liabilities during the current and prior years
are as follows:
Unpaid Claims - Beginning
Incurred Claims (Includes IBNR's)
Claims Paid
Unpaid Claims - Ending
2014
$ 1,480,885
1,462,569
(1,324,386)
$ 1,619,068
2015
$ 1,619,068
1,673,623
(1,672,947)
$ 1,619,744
58
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
The Insurance Internal Service Fund provides protection against losses involving County property, equipment, and
liability. Reserves within the fund support higher deductible or self -insured retention level against loss. Payments to
CAPP for coverage under the insurance pool are shown as expenses in the Insurance Internal Service Fund. Estimated
liabilities under the $125,000 self -insured retention for claims made and claims incurred but not reported (IBNR) at
year-end are shown as accrued liabilities in the fund. These estimates are based upon CAPP's claim administrator's
review of claims and actuarial projection from historical claims data. Changes in the balances of claims liabilities under
the S125,000 self -insured retention during current and prior years are as follows:
2014 2015
Unpaid Claims - Beginning $ 212,076 $ 305,548
Incurred Claims (Includes IBNR's) 621,841 759,824
Claims Paid (528,369) (671,898)
Unpaid Claims - Ending $ 305,548 $ 393,474
The Health Insurance Internal Service Fund covers the county's dental and vision reimbursement plan. The plan is not
an insurance program, but rather an employee reimbursement plan that closes out each year on December 31, for
services received on or before that date. No outstanding claims or incurred but not reported liabilities exist for year-end.
In addition the Health Insurance Internal Service Fund as of January 1, 2006, covers the county's health insurance
program. The plan is a self funded employee health benefit plan with a specific deductible amount of $100,000 per
individual, and an aggregate excess loss insurance policy that has both a monthly attachment point and an annual
cumulative attachment limit with a terminal attachment point. Attachment points are calculated based upon enrollment.
Changes in the balance of the claims liability during the current year are as follows:
Unpaid Claims -
Incurred Claims
Claims Paid
Unpaid Claims -
Note 8 - Long -Term Debt:
Beginning
Ending
2014
$ 2,547,177
12,276,996
(11,991,182)
$ 2,832,991
2015
$ 2,832,991
12,230,594
(12,181,791)
$ 2,881,794
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 $347,493,098 at December 31, 2015.
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, 2015 totaled $3,225,260.
59
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Changes in long-term liabilities
Long-term liability activity for the year ended December 31, 2015, was as follows, the balances, additions and
reductions are listed by the funds where the liability is accrued and liquidated.
Compensated absences
General Fund
Public Works
Social Services
Public Health
Human Services
Total governmental
Beginning
Balance
$ 2,024,591
670,018
901,263
227,050
181,492
Additions
$ 313,579
86,915
61,585
12,873
46,988
$ 4,004,414 $ 521,940
Note 9 - Weld County Retirement Plan:
A. Summary of Significant Accounting Policies
Reductions
$ 94,302
35,390
58,180
8,259
37,339
Ending Due Within
Balance One Year
$ 2,243,868
721,543
904,668
231,664
191,141
$ 117,134
46,969
37,433
4,640
39,268
$ 233,470 $ 4,292,884 $ 245,444
Reporting Entity
The Plan is included in the reporting entity of the County as a fiduciary fund in the Comprehensive Annual Financial
Report.
Basis of Accounting
The Plan uses the accrual basis of accounting. Employee and employer contributions are recognized as revenues in the
period in which the contributions are due. Benefits and refunds are recognized when due and payable in accordance with
terms of the Plan.
Cash & Cash Equivalents
The Colorado Public Deposit Protection Act (PDPA) required 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, 2015, the
County had cash and cash equivalents of $2,124,215 collateralized with securities held by the financial institutions'
agents but not in the County name.
Investments
investments are reported at fair value. Securities traded on a national or international exchange are valued at the last
reported sales price at current exchange rates. The securities that are not traded on national/international exchanges are
valued at market value provided by investment managers.
60
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
GASS NO. 40 Disclosures
The Weld County Retirement Plan adopted GASB Statement No. 40, Deposit and Investment Risk Disclosures - an
amendment of GASB Statement No. 3, for the year ended December 31, 2007. Statement No. 40 establishes additional
disclosure requirements addressing common deposits and investment risks related to credit risk, concentration of credit
risk, interest rate risk, and foreign currency risk. As an element of interest rate risk, this statement requires certain
disclosures of investments that have fair values that are highly sensitive to changes in interest rates. Deposit and
investment policies related to the risks identified in this statement also are required to be disclosed.
Estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and
expenses. Actual results could differ from these estimates. Actuarially determined future benefit payments require the
use of significant estimates. The Plan believes that the techniques and assumptions used in establishing these estimates
are appropriate.
B. Plan Description
The Weld County Retirement Plan (Plan), a component unit of Weld County, is a single employer defined benefit
pension plan administered by a five -member retirement board. The decision that the Plan is a component unit of Weld
County was made by applying the criteria set forth in accounting principles generally accepted in the United States of
America (GAAP). The basic criteria for this decision is that Weld County and its elected officials are accountable for the
Plan. Two board members are elected by the Weld County employees, two are outside citizens appointed by the Board
of County Commissioners and the other member is the Weld County Treasurer. The Plan provides retirement, disability,
and death benefits to plan members and beneficiaries. All full-time employees, except officers and employees of the
Health Department, are required to participate in the Plan. Cost -of -living adjustments are provided to members and
beneficiaries at the discretion of the Retirement Board. The Board of County Commissioners and the Retirement Board
maintain the authority to establish and amend benefit provisions of the Plan.
Membership of the Plan consisted of the following at January 1, 2015 and 2014, the dates of the latest actuarial
valuations:
2014 2015
Retirees and beneficiaries currently
receiving benefits
Terminated employees entitled to benefits
but not yet receiving them
Active plan memebers
Total Vested Members
Nonvested
$ 567 $ 568
129 133
655 656
1,351 1,357
498 429
$ 1,849 $ 1,786
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
C. Contributions
The contribution requirements of plan members and the County are established and maintained by the Board of County
Commissioners. Plan members from 1/1/2015 to 12/31/2015 and 1/1/2014 to 12/31/2014 were required to contribute
10.75%, of their annual covered payroll. The County is required to contribute at an actuarially determined rate, which
was 10.75% from 1/12015 to 12/31/2015 and 1/1/2014 to 12/31/2014, Administrative costs of the Plan are primarily
financed and recorded through the County's General Fund. Administrative costs financed through the Plan's earnings in
prior years are being reimbursed by the County's General Fund and recorded as reimbursement of prior year
expenditures.
D. Benefits Provided
All full time employees are eligible to participate in the Plan. Benefits vest after completing five years of credited
service. Vested employees may retire with a reduced benefit after age 55 with five years of Credited Service. For Tier
1). Full benefits are also available after age 55 when age plus service total at least 75 for Tier 1 and with 30 years of
credited service for Tier2. The monthly benefit is determined as follows:
Tier 1 2.75% of Average Monthly Compensation times Credited Service
Payable as a 10year certain life annuity
Tier 2 2.0% of Average Monthly Compensation times Credited Service
payable as a life annuity
Tier 3 1.9% of each year's compensation, adjusted every March 1 st for
actual Investment performance, payable as a life annuity
Maximum Benefit* $25 per year of credited service
Maximum Benefit* $2.5% of the 12 highest consecutive months, with in the last 120 months
* Only applies to Tiers 1 and 2
Unreduced benefits are provided at age 65 (age 62 with 8 years of credited service for Tier 1). Full benefits are also
available after age 55 when age plus credited service total at least 75 for Tier 1 and with 30 years of credited service for
Tier 2.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
E. Pension Liability
The components of the net pension liability of the Plan at December 31, 2014 were as follows:
Total Pension Liability
Plan fiduciary net position
County's net pension liability
Plan fiduciary net position as a percentage
of the total pension liability
Covered employee payroll
County's net pension liability as a
percentage of employee covered payroll
$ 232,337,977
185,469,545
46,868,432
79.8 %
61,704,127
76.0 %
Actuarial assumptions: The total pension liability as of December 31, 2014 was determined by an actuarial valuation's of
January 1, 2015, using the following actuarial assumptions, applied to all periods included in the measurement:
Inflation
Salary Increases
Investment Rate of Return
Net of investment and administrative fees
2.8%
53 - 8.5%
8.00%
Mortality rates were based on the RP -2000 Mortality Table blended 30% Blue Collar, 70% White Collar for pre -
retirement and RP -2000 Mortality Table for annuitants for post retirement, for Males and Females, as appropriate, both
projected using Scale AA from 2000.
The long-term expected rate of return on pension plan investments was determined using a building-block method which
best -estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and
inflation) arc developed for each major asset class. These ranges are combined to produce the long-term expected rate of
return by weighting the expected future real rates of return by the target asset allocation percentage and by adding
expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the pension
plan's target asset allocation as of December 31, 2014 are summarized in the following table:
Public Equity
Private Equity
Hedge fund of funds
Private equity real estate
Fixed Income
Total
Long -Term Expected
Target Allocation Real Rate of Return
50 - 60%
0-10%
0-10%
5-15%
25 - 35%
100%
5,48%
8.68%
3,02%
1.82%
0.70%
8.00%
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Rate of return: For the year ended December 31, 2014, the annual money -weighted rate of return on pension plan
investments, net of pension plan investment expense, was 7,37%, The money- weighted rate of return expresses
investment performance, net of investment expense, adjusted for the changing amounts actually invested.
Discount rate: The discount rate used to measure the total pension liability was 8.00%. The projection of cash flows
used to determine the discount rate assumed plan member contributions will be made at the current contribution rate and
that the Plan contributions will be made at rates equal to the member contribution rates. Based on those assumptions, the
pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of
current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all
periods of projected benefit payments to determine the total pension liability.
Sensitivity of the net pension liability to changes in the discount rate: The following presents the net pension liability of
the Plan, calculated using the discount rate of 8.0O%, as well as what the Plan's net pension liability would be if it were
calculated using a discount rate that is 1- percentage -point lower (7.00%) or 1 -percentage-point higher (9.00%) than the
current rate:
Current
1(.1/0 increase Discount Rate 1% Decrease
(9.0%) (8.0%) (7.0%)
Net Pension Liability $ 24,639,842 $ 46,868,432 $ 73,701,253
For the year ended December 31, 2015 the County of Weld recognized pension expense of $4,304,042. At December
31, 2015, the County of Weld reported deferred outflows of resources and deferred inflows of resources related to
pensions from the following sources:.
Deferred Deferred
Outflows Inflows
Difference Between Expected and actual
experience
Change Of Assumptions
Net difference between projected and
actual earning on pension investments
Contributions made subsequent to the
measurement date
Total
- $ 187,789
601,503
58,861,621
$ 59,463,124 $ 187,789
$58,861,621 reported as deferred outflows of resources related to pension, resulting from contributions subsequent to
the measurement date, will be recognized as a reduction of the net pension liability in the year ended December 31,
2016. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions
will be recognized as follows:
2015
2016
2017
2018
$ 80,683
80,683
80,683
90,982
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
F. Investments and Certain Risk Factors
There are many factors that can affect the value of investments. Some, such as custodial risk, concentration of credit risk
and foreign currency risk may affect both equity and fixed income securities. Equity securities respond to such factors as
economic conditions, individual company earnings performance, and market liquidity, while fixed income securities are
particularly sensitive to credit risks and changes in interest rates. The Retirement Board, which is responsible for
oversight of the Plan, has established investment policies (which does not include a formal policy that limits maturities
for fixed income investments to limit interest rate risks) to provide the basis for the management of a prudent investment
program appropriate to the particular fund types.
The policy addresses investment objectives, responsibilities, asset allocation
standards.
All investments are part of mutual funds as listed below and therefore are
risks.
strategy, investment guidelines and review
not considered to be exposed to custodial
Investments, at fair value, were as follows at December 31, 2015 and 2014:
2015 2014
Domestic Equity
International Equity
Hedger Fund
Fixed income
U.S. Property Fund
Fund of Funds
Money Market Fund
$ 68,482,921
37,777,351
10,500,159
29,605,900
47,248,358
38,538,184
$ 232,152,873
$ 76,593,945
23,965,424
9,104,469
42,083,165
21,455,308
480
10,475,678
$183,678,469
Foreign currency risk is defined as any deposits or investments that are denominated foreign currencies, which bear a
potential risk of loss arising from changes in currency exchange rates. The Plan has no direct holdings which give rise to
foreign currency risk. However, some of the externally managed funds have investments which are denominated in
foreign currencies.
G. Plan Changes and Termination Provision
The Retirement Board and the County Commissioners intend to continue the Plan indefinitely, however provisions in the
Plan allow for changes, including termination of the Plan. Any changes to the Plan must be for the exclusive benefit of
the eligible employees of Weld County and their beneficiaries.
If the Plan is terminated, participants would stop earning additional benefits, contributions to the retirement fund would
cease, and the investments in the retirement fund would be converted to cash and funds would be allocated to the
affected participants of the Plan. First, members or their beneficiaries would receive the total of their accumulated
contributions (including the accumulated value of the amount paid for purchased service credit, if any). Then, any
remaining funds would be allocated on a pro -rata basis in accordance with the Plan document. Benefits may be paid in
cash or nontransferable annuity contracts. No funds may be returned to the County unless all liabilities to members or
their beneficiaries have been satisfied. The Retirement Board would determine how the benefits are to be paid.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
WELD COUNTY RETIREMENT PLAN
SHEDULE OF CHANGES IN PLAN NET PENSION LIABILITY
Total pension liability
Service Cost
Interest
Change In Benefit Term
Difference Between Expected and Actual
Experience
Change of Assumptions
Benefit Payments, Including Refunds of Employee
Contributions
Net change in total pension liability
Total pension liability - beginning
Total pension liability - ending (a)
Plan fiduciary net position
Contributions - Employer
Contributions - Employee
Net Investment Income
Benefit Payments, including refunds of employee
contributions
Administrative expenses
Other
Net Change in plan fiduciary net position
Plan net position beginning
Plan net position - ending (b)
County's net position liability - ending (a) -(b)
Plan fiduciary net position as a percentage of the
total pension liability
Covered Employee Payroll
County's net pension liability as a percentage of
covered payroll
$ 6,710,973
17,727,585
(187,789)
(13,593,270)
$ 10,657,499
221,680,478
232,337,977
17,186,962
7,179,473
12,799,029
(13,593,270)
(445,444)
23,126,750
162,342,795
185,469,545
46,868,432
79.8 %
61,704,127
76.0 %
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Note 10 - Blended Unit Pension Disclosure
A. Defined Benefit Pension Plan
Summary of Significant Accounting Policies
County of Weld employees of the Weld County Department of Public Health and Environment participate in the Local
Government Division Trust Fund (LGDTF), a cost -sharing multiple -employer defined benefit pension fund administered
by the Public Employees' Retirement Association of Colorado ("PERA”). The net pension liability, deferred outflows of
resources and deferred inflows of resources related to pensions, pension expense, information about the fiduciary net
position and additions to/deductions from the fiduciary net position of the LGDTF have been determined using the
economic resources measurement focus and the accrual basis of accounting. For this purpose, benefit payments
(including refunds of employee contributions) are recognized when due and payable in accordance with the benefit
terms. Investments are reported at fair value.
General Information about the Pension Plan
Eligible employees of the County of Weld are provided with pensions through the Local Government Division Trust
Fund (LGDTF)—a cost -sharing multiple -employer defined benefit pension plan administered by PERA. Plan benefits
are specified in Title 24, Article 51 of the Colorado Revised Statutes (C.R.S.), administrative rules set forth at 8 C.C.R.
1502-1, and applicable provisions of the federal Internal Revenue Code. Colorado State law provisions may be amended
from time to time by the Colorado General Assembly. PERA issues a publicly available comprehensive annual financial
report that can be obtained at www.copera.org/investments/pera-financial-reports .
PERA provides retirement, disability, and survivor benefits. Retirement benefits are determined by the amount of
service credit earned and/or purchased, highest average salary, the benefit structure(s) under which the member retires,
the benefit option selected at retirement, and age at retirement. Retirement eligibility is specified in tables set forth at
C.R.S. § 24-51-602, 604, 1713, and 1714.
The lifetime retirement benefit for all eligible retiring employees under the PERA Benefit Structure is the greater of the:
• Highest average salary multiplied by 2.5 percent and then multiplied by years of service credit
• The value of the retiring employee's member contribution account plus a 100 percent match on eligible amounts as
of the retirement date. This amount is then annuitized into a monthly benefit based on life expectancy and other
actuarial factors.
The lifetime retirement benefit for all eligible retiring employees under the Denver Public Schools (DPS) Benefit
Structure is the greater of the:
• Highest average salary multiplied by 2.5 percent and then multiplied by years of service credit
• $15 times the first 10 years of service credit plus $20 times service credit over 10 years plus a monthly amount
equal to the annuitized member contribution account balance based on life expectancy and other actuarial factors.
67
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
In all cases the service retirement benefit is limited to 100 percent of highest average salary and also cannot exceed the
maximum benefit allowed by federal Internal Revenue Code.
Members may elect to withdraw their member contribution accounts upon termination of employment with all PERA
employers; waiving rights to any lifetime retirement benefits earned. If eligible, the member may receive a match of
either 50 percent or 100 percent on eligible amounts depending on when contributions were remitted to PERA, the date
employment was terminated, whether 5 years of service credit has been obtained and the benefit structure under which
contributions were made.
Benefit recipients who elect to receive a lifetime retirement benefit are generally eligible to receive post -retirement cost -
of -living adjustments (COLAs), referred to as annual increases in the C.R.S. Benefit recipients under the PERA benefit
structure who began eligible employment before January 1, 2007 and all benefit recipients of the DPS benefit structure
receive an annual increase of 2 percent, unless PERA has a negative investment year, in which case the annual increase
for the next three years is the lesser of 2 percent or the average of the Consumer Price Index for Urban Wage Earners
and Clerical Workers (CPI -W) for the prior calendar year. Benefit recipients under the PERA benefit structure who
began eligible employment after January 1, 2007 receive an annual increase of the lesser of 2 percent or the average
CPI -W for the prior calendar year, not to exceed 10 percent of PERA's Annual Increase Reserve for the LGDTF.
Disability benefits are available for eligible employees once they reach five years of earned service credit and are
determined to meet the definition of disability. The disability benefit amount is based on the retirement benefit formula
shown above considering a minimum 20 years of service credit, if deemed disabled.
Survivor benefits are determined by several factors, which include the amount of earned service credit, highest average
salary of the deceased, the benefit structure(s) under which service credit was obtained, and the qualified survivor(s)
who will receive the benefits.
Contributions. Eligible employees and County of Weld are required to contribute to the LGDTF at a rate set by
Colorado statute. The contribution requirements are established under C.R.S. § 24-51-401, et seq. Eligible employees
are required to contribute S percent of their PERA-includable salary. The employer contribution requirements are
summarized in the table below:
Rate
Employer Contribution Rate * 10.0 %
Amount of Employer Contributions apportioned to the Health Care Trust Fund as
specified in C.R.S. 24-51-208(1)(f) * (1.0)%
Amount Apportioned to theLGDTF * 9.0 %
Amortization Equalization Disbursement (AED) as specified in C.R.S. 24-51-411 * 2.2 %
Supplemental Amortization Equalization Disbursement (SAED) as specified in C.R.S.
24-51-411 * 1.5 %
Total Employer Contribution Rate to the LGDTF 1 12.7 %
* Rates Expressed as percentage of salary per C.R.S 24-51-101 (42)
Employer contributions are recognized by the LGDTF in the period in which the compensation becomes payable to the
member and the County of Weld is statutorily committed to pay the contributions to the LGDTF. Employer
contributions recognized by the LGDTF from County of Weld were 5623,865 for the year ended December 31, 2015
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Pension Liabilities, Expense, and Related Deferred Out Flows and Inflows of Resources
At December 31, 2015, the County of Weld reported a liability of $8,047,920 for its proportionate share of the net
pension liability. The net pension liability was measured as of December 31, 2014, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of December 31, 2013. Standard update
procedures were used to roll forward the total pension liability to December 31, 2014. The County of Weld proportion
of the net pension liability was based on County of Weld contributions to the LGDTF for the calendar year 2014 relative
to the total contributions of participating employers to the LGDTF.
At December 31, 2014, the County of Weld proportion was 0.897 percent, which was approximately its proportion
measured as of December 31, 2013.
For the year ended December 31, 2015, the County of Weld recognized pension expense of $623,865. At December 31,
2015, the County of Weld reported deferred outflows of resources and deferred inflows of resources related to pensions
from the following sources:
Deferred Outflows Deferred Inflows of
of Resources Resources
Difference Between Expected and Actual
Experience
Change Of Assumptions or other inputs
Net Difference between projected and actual
earnings on pension investments
Changes in proportion and difference s between
contributions recognized and proportionate
share of contributions
Contributions subsequent to the measurement
date
Total
436,440
733,965
$ 1,170,405 $ 1,616
$733,965 reported as deferred outflows of resources related to pensions, resulting from contributions subsequent to the
measurement date, will be recognized as a reduction of the net pension liability in the year ended December 31, 2016.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be
recognized in pension expense as follows.
2016
2017
2018
2019
Thereafter
$ 107,837
108,771
109,112
109,104
$ 434,824
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Pension Liabilities, Expense, and Related Deferred Out Flows and Inflows of Resources
Actuarial assumptions. The total pension liability in the December 31, 2013 actuarial valuation was determined using the
following actuarial assumptions and other inputs:
Price Inflation
Real Wage Growth
Wage Inflation
Salary increases, including wage inflation
Long-term investment Rate of Return, net of pension
plan investment expenses, including price inflation
Future Post -retirement benefit increases:
Pera Benefit Structure hired prior to 1/1/2007
(automatic)
PERA Benefit Structure hired after 12/31/2006(ad
hoc, substantively automatic)
2.80%
1.10%
3.980%
3.9-10.85%
7.50%
2.0%
Financed by the Annual
Increase Reserve
Mortality rates were based on the RP -2000 Combined Mortality Table for Males or Females, as appropriate, with
adjustments for mortality improvements based on a projection of Scale AA to 2020 with Males set back 1 year, and
Females set back 2 years.
The actuarial assumptions used in the December 31, 2013 valuation were based on the results of an actuarial experience
study for the period January 1, 2008 through December 31, 2011, adopted by PERA's Board on November 13, 2012,
and an economic assumption study, adopted by PERA's Board on November 15, 2013 and January 17, 2014.
The LGDTF's long-term expected rate of return on pension plan investments was determined using a log -normal
distribution analysis in which best estimate ranges of expected future real rates of return (expected return, net of
investment expense and inflation) were developed for each major asset class. These ranges were combined to produce
the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation
percentage and then adding expected inflation.
As of the most recent analysis of the long-term expected rate of return, presented to the PERA Board on November 15,
2013, the target allocation and best estimates of geometric real rates of return for each major asset class are summarized
in the following table:
U.S. Equity - Large Cap
U.S. Equity - Small Cap
Non U.S. Equity - Developed
Non U.S. Equity - Emerging
Core Fixed Income
High Yield
Long Duration Government Credit
Emerging Markets Bonds
Real Estate
Private Equity
Total
10 Years Expected Geometric
Target Allocation Real Rate of Return
26.9
4.4
22.1
6.2
24.1
1.5
0.5
0.4
7.0
7.0
100.0
5.0
5.2
5.3
6.8
1.0
2.6
1.6
3.0
5.1
7.2
* In setting the long-term expected rate of return, projections employed to model future returns provide a range of
expected long-term returns that, including expected inflation, ultimately support a long-term expected rate of return
assumption of 7.50%.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Pension Liabilities, Expense, and Related Deferred Out Flows and Inflows of Resources
Discount rate. The discount rate used to measure the total pension liability was 7.50 percent. The projection of cash
flows used to determine the discount rate assumed that employee contributions will be made at the current contribution
rate and that employer contributions will be made at rates equal to the fixed statutory rates specified in law, including
current and future AED and SAED, until the Actuarial Value Funding Ratio reaches 103 percent, at which point, the
AED and SAED will each drop 0.50 percent every year until they are zero. Based on those assumptions, the LGDTF's
fiduciary net position was projected to be available to make all projected future benefit payments of current members.
Therefore, the long -torn expected rate of return on pension plan investments was applied to all periods of projected
benefit payments to determine the total pension liability. The discount rate determination does not use the Municipal
Bond Index Rate. There was no change in the discount rate from the prior measurement date.
Sensitivity of the County of Weld proportionate share of the net pension liability to changes in the discount rate. The
following presents the proportionate share of the net pension liability calculated using the discount rate of 7.50 percent,
as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate
that is 1 -percentage -point lower (6.50 percent) or 1 -percentage -point higher (8.50 percent) than the current rate:
Current
1% Decrease Discount Rate 1% Increase
(6.5%) (7.5%) (8.5%)
Proportionate share of net pension liability $ 13,143,137 $ 8,047,920 $ 3,800,002
Pension plan fiduciary net position. Detailed information about the LODTF's fiduciary net position is available in
PERA's comprehensive annual financial report which can be obtained at www.copera.org/investments/pera-financial-
reports.
Payables to the pension plan. County of Weld has none as of December 31, 2015.
B. Defined Contribution Pension Plans
Voluntary Investment Program
Plan Description - Employees of the County of Weld that are also members of the LGDTF may voluntarily contribute to
the Voluntary Investment Program, an Internal Revenue Code Section 401(k) defined contribution plan administered by
PERA. Tide 24, Article 51, Part 14 of the C.R.S., as amended, assigns the authority to establish the Plan provisions to
the PERA Board of Trustees. PERA issues a publicly available comprehensive annual financial report for the Program.
That report can be obtained at www.copera.org/investments/pera-fmancials-reports.
Funding Policy - The Voluntary Investment Program is funded by voluntary member contributions up to the maximum
limits set by the Internal Revenue Service, as established under Title 24, Article 51, Section 1402 of the C.R.S., as
amended. In addition, the County of Weld has agreed to match employee contributions up to XX percent of covered
salary as determined by the Internal Revenue Service. Employees are immediately vested in their own contributions,
employer contributions and investment earnings. For the year ended December 31, 2015, program members contributed
$0.00 and County of Weld recognized pension expense and a liability of $0.00 and $0.00, respectively, for the
Voluntary Investment Program.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
C. Other Post -Employment Benefits
Health Care Trust Fund
Plan Description — The County of Weld contributes to the Health Care Trust Fund ("HCTF"), a cost sharing multiple
employer healthcare trust administered by PERA. The HCTF benefit provides a health care premium subsidy and health
care programs (known as PERACare) to PERA participating benefit recipients and their eligible beneficiaries. Title 24,
Article 51, Part 12 of the C.R.S., as amended, establishes the HCTF and sets forth a framework that grants authority to
the PERA Board to contract, self -insure and authorize disbursements necessary in order to carry out the purposes of the
PERACare program, including the administration of health care subsidies. PERA issues a publicly available
comprehensive annual financial report that includes financial statements and required supplementary information for the
HCTF. That report can be obtained at www.eopera.orglinvestrents/pera-financials-reports
Funding Policy — The County of Weld is required to contribute at a rate of 1.02 percent of PERA-includable salary for
all PERA members as set by statute. No member contributions are required. The contribution requirements for the
County of Weld are established under Title 24, Article 51, Part 4 of the C.R.S., as amended. The apportionment of the
contributions to the HCTF is established under Title 24, Article 51, Section 208(1)(f) of the C.R.S., as amended. For the
years ending December 31, 2015, and December 31, 2014 the County of Weld contributions to the HCTF were $50,185,
and $48,695, respectively, equal to their required contributions for each year.
The County of Weld has recognized the county's PERA LGDTF proportional net pension liability of $8,047,920 as a
restricted amount in the Public Health Fund at year end on December 31, 2015.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Note H - 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.
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 2015, the county contributed $0 to the plan. Plan members receiving benefits contributed
$65,382, or approximately 100% percent of the total premiums, through their required contribution ranging from $129
to S157 per month for retiree -only coverage and between S245 to S338 for retiree and spouse coverage. Each of these
rates saw no increase in 2015. 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.
73
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
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 33 members in 2015 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:
Level Dollar Amortization
Calculation on Annual OPEB cost under Projected Unit Credit Method on December 31, 2015
Anual Required Contribution (ARC)
Adjustment to the ARC
Interest Earned on Net OPEB Asset
2015 Net Annual OPEB Cost
County Contributions
Increase in net OPEB obligation (asset)
Beginning OPEB obligation (asset)
Ending OPEB Obligation (asset)
399,487
(595,651)
(11,713)
(207,877)
(207,877)
(652,454)
$ (860,331)
There is no unfunded actuarial accrued liability (UAAL) at the end of the year. A surplus of $860,331 exists.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Covered Participants as of January 1, 2016
Retired Employees
Spouses of Retired Employees
Three -Year Trend Information:
Fiscal Year End
December 31, 2013
December 31, 2014
December 31, 2015
Annual OPEB Cost
$ (285,570)
$ (285,570)
$ (207,877)
29
4
33
Percentage of Annual
OPEB Cost
Contributed
100.0 %
100.0 %
100.0 %
Net OPEB
Asset
$ (652,454)
$ (652,454)
$ (860,331)
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, 2015 was $1,026,718, there were $1,887,049 in assets on December 31, 2015 for a finding excess of ($860,331).
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, 2012, was as follows:
Actuarial Accrued Liability (AAL)
Actuarial value of plan assets
Funded Excess
Funded ratio (actuarial value of plan assets/AAL)
1,026,718
1,887,049
(860,331)
183.79 %
No active employees are covered by the plan.
Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability of events
far into the future, and actuarially determined amounts are subject to continual revision as actual results are compared to
past expectations and new estimates are made about the future.
The required schedule of funding progress presents multiyear trend information about whether the actuarial value of
assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.
The actuarial calculations are based on the types of benefits provided under the terms of the substantive plan at the time
of each valuation and on the pattern of sharing of costs between the employer and members to that point and reflect a
long-term perspective.
The Weld County OPEB Plan Assets are accounted for in the Weld County OPEB Plan Trust Fund. An 1RC Section 115
Trust has been established for the Weld County OPEB Plan Trust.
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Note 12 - Commitments and Contingencies:
Commitments
As of December 31, 2015 there were encumbrances carried forward to 2016 of $748,657 in the General fund, consisting
of $227,600 for general purchases, $387,286 consulting services for flood recovery and $133,771 for County wide
communication and general government computer system maintenance and support. The Public Works fund carried
forward $2,206,202 for road construction projects which includes $1,051,249 specifically for the Weld County Parkway.
In the capital expenditures fund year-end projects under construction included $388,086 for building improvements and
$74,320 for remodeling projects for the Weld Plaza buildings.
Note 13 - 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, 2015
Assets
Liabilities
Net Position
Revenues
Expenses
$ 423,290
49,174
374,116
387,486
392,034
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.
76
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Note 14 - Non -Cash Activity in Social Services Fund
Schedule of EBT Authorizations, Warrant Expenditures and Total Expenditures
for the Year Ended December 31, 2015
A
B
C
D
E
Program
County EBT
Authorizations
County Share of
Authorizations
Total Refunds
and Expenditures
by County
Warrant or
Accrual
County EBT
Authorizations
plus Expenditures
by County
Warrant
(Col. A + Col. C)
Total
Expenditures
Col. B + Col. C
Old Age Pension
4,178,630
6,757
108,808
4,287,438
115,565
Low -Income Energy
Assistance Program
1,493,296
-
"119,147
1,612,443
"119,147
Temporary Assistance for
Needy Families
4,035,937
660,650
2,154,601
6,190,538
2,815,251
Administration
9,276
1,855
10,162,886
10,172,162
10,164,741
Trails/Child Welfare
6,868,201
1,371,729
13,840,639
20,708,840
15,212,368
Core Services
1,680,145
280,110
742,305
2,422,450
1,022,415
Aid to the Needy Disabled
939,319
154,560
(15,802)
923,517
138,758
1V -D Administration
-
-
3,163,939
3,163,939
3,163,939
CHATS/Child Care
4,018,239
434,291
518,740
4,536,979
953,031
General Assistance
-
-
64,652
64,652
64,652
Subtotal
23,223,043
2,909,952
30,859,915
54,082,958
33,769,867
Food Assistance
38,261,547
-
(251)
38,261,296
(251)
Grand Total
61,484,590
2,909,952
30,859,664
92,344,254
33,769,616
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.
77
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Note 15 - Recent Pronouncements:
In February 2015 the Governmental Accounting Standards Board issued GASB Statement No.72 Fair Value
Measurement and Application. This statement provides final guidance on the accounting and financial reporting issues
related to fair value measurements primary applicable to investments made by state and local governments. The
guidance: 1) defines fair value and describes how it should be measured; 2) identifies the assets and liabilities that
should be measured at fair value; and 3) identifies the fair value information that should be disclosed in the notes to the
financial statements.
GASB Statement No.72 is effective for years beginning after June 15, 2015 with effective changes made to comply with
the statement reported as adjustments to prior periods. The effect that the adaption of GASB No. 72 will have on the
County's financial statements has not been determined
Note 16 - Restatement Of Net Position
As of January 1, 2O15 the County adopted GASB Statement No. 68, Accounting and Financial Reporting for Pensions
and GASB Statement No. 71 Pension Transition for Contributions Made Subsequent to the Measurement date. The
implementation of these standards require governments to calculate and report the costs and obligations associated with
the pensions in their financial statements, including additional note disclosures and required supplementary information.
Beginning net position was restated to retroactively report the beginning net pension liability and deferred outflows of
resources related to contributions made after the measurement date.
The adjustment to the beginning balance of net position is as follows:
Net Position - December 31, 2014, as previously reported
Restatement due to implementation of GASB 68
Net Position - December 31, 2014 as restated
$ 474,407,154
44,583,958
$ 429,823,196
78
Required Supplementary Information
Other Than MD&A
INFORMATION
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS
Year Ended December 31, 2015
December 31,
2014
Total pension liability:
Service Cost
Interest
Differences between expected and actual
experience
Changes of assumptions
Benefit payments, including refunds of employee
contributions
Net change in total pension liability
Total pension liability - beginning
Total pension liability - ending (a)
Plan fiduciary net position:
Contributions - employer
Contributions - employee
Net investment income
Benefit payments, including refunds of employee
contributions
Administrative expense
Other
Net change in plan fiduciary net position
Plan fiduciary net position - beginning
Plan fiduciary net position - ending (b)
County's net position liability - ending (a) - (b)
6,710,973
17,727, 585
(187,789)
(13,593,270)
10,657,499
221,680,478
232,3.37,977
17,186,962
7,179,473
12,799,029
(13,593,270)
(445,444)
23,126,750
162,342,795
185,469,545
46,868,432
Plan fiduciary net position as a percentage of the
total pension liability
Covered employee payroll
County's net pension liability as a percentage of
covered employee payroll
79,83%
61,704,127
75,96%
Until a frill 10 -year trend is complied, the County will present information for those years for which the information is
available.
COUNTY OE WELD
STATE OF COLORADO
SCHEDULE OF EMPLOYER CONTRIBUTIONS
Year Ended December 31, 2015
Year Ended
December 31
Actuary
Determined
Contribution
Contribution in
Relation to the
Actuarially
Determined
Contribution
Contribution
Deficiency
(Excess)
Covered Payroll
Contributions as a
% of Covered
Payroll
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
S 4,236,858.0()
4,408,097.00
4,928,519.00
7,087,011.00
5,417,362.00
6,013,818.00
6,138,685.00
6,578,458.00
5,798,248.00
4,609,558.00
$ 3,205,422.00
3,804,640.00
4,184,885.00
4,664,860.00
4,885,660.00
4,906,758.00
6,970,039.00
11,235,009.00
17,186,962.00
58,861,621 .00
S (1,031,436.00)
(603,457.00)
(743,634.00)
(2,422,15 1.00)
(531,702.00)
(1,107,060.00)
831,354.00
4,656,551.00
11,388,714.00
54,252,063.00
$ 41,529,717.00
44,210,417.00
49,967,777.00
53,988,779.00
53,484,492.00
53,415,982.00
55,871,701.00
55,933,201.00
61,704,127.00
68,958,839.00
7.72%
8.61%
8.38%
8.64%
9.13%
9.19%
12.48%
20.09%
27.85°A
85.36%
80
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF THE COUNTYS PROPORTIONATE SHARE OF
NET PENSION LIABILTY - PERA
Year Ended December 31, 2015
Year Ended
December 31
Cumulative
Cumulative Portion of Net Proportionate % Of Covered
Pension Liability Share Covered Payroll Payroll
Plan Net Position
as a % of Net
Pension Liability
2015
0.897%
$ 8,047,920 $ 5,139,062 156.60%
80.72%
Until a full 10 -year trend is complied, the County will present information for those years for which the information is
available.
COUNTY OF WELD
STATE OF COLORADO
SCHEDULE OF EMPLOYER CONTRIBUTIONS - PERA
Year Ended December 31, 2015
Statutorily Required
Year Ended December 31 Contributions
2015
623,684.00 S
Contributions Made Covered Payroll % Of Covered Payroll
623,684.00 $
5,139,062.00
12.14%
Until a full 10 -year trend is complied, the County will present information for those years for which the information is available.
82
COUNTY OF WELD
STATE OF COLORADO
Schedule of Funding Progress - Other Post Employment Benefits
Year Ended December 31, 2015
Schedule of Funding Progress - Other Post Employment benefits
Excess
Actuarial Actuarial Acturial Funding Funded Ratio
Valuation Value of Accrued AAL (UAAL) (a/b)
Date Assets Liability (b -a)
(a) (AAL)
Entry Age
(b)
1/1/12 $ 2,387,693 $ 1,735,238 $ (652,455) 137.6 %
1/1/13 $ 2,387,693 $ 1,735,238 $ (652,455) 137.6 %
1/1/14 $ 2,387,693 $ 1,735,238 $ (652,455) 137.6 %
1/1/15 $ 2,387,693 $ 1,735,238 $ (652,455) 137.6 %
1/1/16 $ 1,887,049 $ 1,026,718 $ (860,331) 183.8 %
Schedule of Employer Contributions — Other Post Employment Benefits
Annual
Year Ended Required Actual Percentage
December 31 OPEB Cost Contribution Contributed
2013 $ (285,570) $ (285,570) 100.0 %
2014 (285,570) (285,570) 100.0 %
2015 $ (207,877) $ (207,877) 100.0 %
''1>Required contribution at beginning of year.
COUNTY OF WELD
STATE OF COLORADO
Required Supplementary Infonnation
Modified Approach for Infrastructure Assets
Weld County prepares an annual gravel road plan. In doing this each of the sections of gravel roads has been evaluated
by supervisors. They use the State guidelines as out lined in Section 43 -2 -120(5)(a -b), C,R.S, 1973, which is stated
below. Since gravel roads condition can change quickly based on weather conditions the road plan may have to be
modified to take care of such problems. Therefore, an official road maintenance system is difficult to put in place. It is
the County's policy to maintain the roads in fair or better condition. The County's gravel plan details the replacement
and maintenance schedule required for the gravel roads, by segment, under ideal weather conditions based on traffic and
location. The day to day conditions of the gravel roads is continually monitored by the County's Motor Grader division
whose sole responsibility is to maintain the condition of the gravel roads, the following table details the condition
assessment in total miles and percentage reported at the end of the last three fiscal periods.
Condition
Good
Fair
Poor
Miles
1,787
368
64
2015 2014 2013
% of Total Miles % of Total Miles % of Total
80.5% 1,786
16.6% 372
2,9% 65
Comparison of Estimated -to -Actual Maintenance/Preservation
Estimated
Actual
2011
3,132,000
2,683,326
2012
3,132,000
3,696,246
2013
3,360,875
3,131,555
80.3%
16.7%
2,9%
2014
2,696,700
3,067,408
1,784 79.6%
383 17.1%
74 3,3%
2015
3,703,900
3,628,316
2016
3,784,840
Gravel Roads - Surface Condition Rating Criteria
Section 43-2-120 (5)(a -b), C.R.S. 1973, gives the following guidelines pertaining to the condition criteria on gravel
roads.
Good Surface Condition
$ There is adequate width for safe passage of large vehicles.
$ Graded to a uniform cross-section, having a crown and ditches to provide good drainage.
$ The surface is smooth with no washboards, rutting or soft areas; vehicles can safely travel at the posted speed
limit.
$ There is adequate gravel uniformly spread across the surface.
$ During periods of wet weather, roads will support traffic.
Fair Surface Conditions
$ Adequate width for safe passage of cars and pickup trucks.
$ Cross-section may vary; the crown is not consistent; ditches and drainage are not adequate.
The surface has occasional washboards and ruts but irregularities do not interfere with safe vehicle operation at
the speed limit,
$ Gravel is present, but lacking in the wheel paths or in short stretches.
$ During periods of wet weather, puddles develop; the road is slippery but will support normal traffic.
Poor Surface Condition
$ Two cars cannot safely pass.
$ Cross-section varies. There is no crown or ditches, and water does not drain from the road.
$ The surface has washboards, ruts, soft areas; vehicles must slow to less than the speed limit.
$ Gravel is sparse or does not exist,
$ During periods of wet weather, cars cannot safely travel.
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, 2015
Budgeted - GA AP Basis
REVENUES
Taxes:
General property taxes
Tobacco products
Penalties & interest
Total Taxes
Licenses and Permits
Liquor licenses
Planning permits
Building permits
Electrical permits
Total Licenses and Permits
Intergovernmental:
Federal grants
Payment in lieu of taxes
State grants
Other governmental units
Cities and towns
Total Intergovernmental
Charges for Service:
Plan checking fees
Charges for services
Sale of supplies
Parking
Total Charges for Service
Fines and Forfeitures:
Property forfeitures/evidence
Fines (drunk drivers)
Total Fines and Forfeitures
Miscellaneous:
Miscellaneous
Interest
Rents from buildings
Total Miscellaneous
Original Final
Actual Variance
$ 104,762,514 $ 104,762,514 $ 102,632,802 $ (2,129,712)
200,000 200,000 293,150 93,150
60,796 60,796
104,962,514 104,962,514 102,986,748 (1,975,766)
7,000
410,000
1,850,000
600,000
7,000
560,000
2,450,000
990,000
8,290
526,762
2,252,491
928,496
1,290
(33,238)
(197,509)
(61,504)
2,867,000 4,007,000 3,716,039 (290,961)
2,000
3,718,604
521,263
283,540
260,000
2,000
3,787,604
521,263
283,540
723,012
371,372
4,467,802
690,569
314,320
463,012
369,372
680,198
169,306
30,780
4,525,407 4,854,407 6,567,075 1,712,668
800,000
6,646,805
120,500
21,000
850,000
7,166,759
120,500
21,000
7,588,305
8,158,259
172,500
172,500
172,500
172,500
2,294,641
1,100,000
533,023
3,341,641
1,100,000
1,433,023
$ 3,927,664
$ 5,874,664
802,768
6,500,452
134,834
27,281
7,465,335
432,845
280,294
713,139
5,138,955
1,001,054
1,573,382
(47,232)
(666,307)
14,334
6,281
(692,924)
432,845
107,794
540,639
1,797,314
(98,946)
140,359
$ 7,713,391 $
1,838,727
85
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, 2015
Budgeted - GAAP Basis
REVENUES (CONTINUED)
Fees:
Fee account
Treasurer's fees
Cable fees
Assessor's fees
Total Fees
Total Revenues
EXPENDITURES
General Government
Office Of the Board
County Attorney
Public Trustee
Planning and zoning
Clerk to the Board
County Clerk
Elections and registrations
Motor Vehicle
County Treasurer
County Assessor
Maintenance of buildings/gounds
Weld Plaza
County Council
District Attorney
Juvenile Diversion
Adult Diversion
Victim Assistance
Financial administration
General accounting
Purchasing
Personnel
Geographical Information Systems
Computer Services
Innovation & Technology Project
Print and Supply
Bright Futures Weld County
Smart Energy Project
Total General Government
(CONTINUED)
Original Final
$ 10,096,400
40,000
52,000
40,000
10,228,400
$ 10,546,400
40,000
52,000
40,000
10,678,400
Actual
$ 11,676,264
21,785
71,766
32,715
11,802,530
Variance
$ 1,129,864
(18,215)
19,766
(7,285)
1,124,130
134,271,790 138,707,744 140,964,257 2,256,513
957,673 957,673 982,429 (24,756)
804,251 1,258,301 1,307,932 (49,631)
- 3,500 3,228 272
1,700,842 1,704,042 1,666,737 37,305
359,722 378,722 381,862 (3,140)
941,485 956,485 905,642 50,843
965,952 965,952 671,606 294,346
2,544,008 2,624,008 2,486,540 137,468
1,016,736 1,021,136 916,242 104,894
2,938,130 3,084,130 2,968,237 115,893
6,065,174 6,065,174 5,715,254 349,920
640,000 734,866 (94,866)
48,299 48,299 14,022 34,277
5,285,833 5,335,833 5,138,879 196,954
211,402 303,402 298,435 4,967
73,538 73,538 65,185 8,353
720,059 723,059 1,424,354 (701,295)
355,872 355,872 337,057 18,815
767,178 829,553 848,936 (19,383)
265,927 266,927 264,241 2,686
1,161,378 1,245,378 1,143,356 102,022
212,882 216,882 162,487 54,395
5,524,456 5,996,456 5,273,336 723,120
1,000,000 110,000 23,104 86,896
370,246 394,246 360,573 33,673
- 199,690 29,680 170,010
1,290,605 1,290,605 1,290,605
$ 35,581,648 $ 37,048,863 $ 34,124,220 $ 2,924,643
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, 2015
Budgeted - GA AP Basis
EXPENDITURES (CONTINUED)
Public Safety
Sheriff administration
Crime control and investigation
Criminal justice
Task Force
Regional Forensic Laboratory
Communication Services
Justice Services
County Coroner
Community Corrections
Building Inspections
Office Of Emergency Management
Waste Water
Animal Control
Pest/weed Control
Victim advocates
Total Public Safety
Public Works:
General Engineering
Extension
Veterans Office
Total Public Works
Public Health and Welfare:
Mental Health
Developmentally Disabled
Seniors Program
Economic Development
Total Public Health and Welfare
Culture and Recreation:
Missile Site Park
Parks and Trails
County Fair
Total Culture and Recreation
Original Final
$ 2,157,878
10,565,796
25,644,832
121,557
359,329
6,975,054
836,927
920,496
2,943,060
1,326,473
328,110
10,000
308,698
918,538
164,823
$ 4,527,366
10,276,119
24,700,390
211,967
561,204
6,925,054
992,927
942,696
2,943,060
1,451,473
373,610
10,000
308,698
928,538
164,823
53,581,571
55,317,925
10,690,124
336,511
83,620
10,690,124
336,511
90,620
11,110,255
11,117,255
218,093
38,225
19,000
155,000
218,093
38,225
19,000
155,000
430,318
430,318
78,051
29,000
134,114
Actual
$ 4,511,417
10,532,872
24,896,330
274,430
487,473
6,318,189
751,799
897,942
2,872,047
1,453,530
390,037
9,215
294,919
825,806
143,533
54,659,539
8,254,645
440,471
89,053
8,784,169
203,160
38,225
19,000
198,460
458,845
Variance
$ 15,949
(256,753)
(195,940)
(62,463)
73,731
606,865
241,128
44,754
71,013
(2,057)
(16,427)
785
13,779
102,732
21,290
658,386
2,435,479
(103,960)
1,567
2,333,086
14,933
(43,460)
(28,527)
81,051 66,244 14,807
29,000 29,000
146,114 1,169,784 (1,023,670)
$ 241,165 $ 256,165 $ 1,265,028 $ (1,008,863)
87
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, 2015
Budgeted - GAAP Basis
EXPENDITURES (CONTINUED)
Miscellaneous:
Other
Pension Contribution
Building Rents
Total Miscellaneous
Capital Outlay:
Capital Expenditures
Total Expenditures
Other Financing Sources (Use)
Transfers - In:
Non -Departmental
Transfers - Out:
Appropriation Grants -In -Aid
Total Other Financing Source (uses)
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund Balance at End of Year
Original Final
$ 4,065,275 $
25,000,000
112,319 _
29,177,594
4,745,275
25,000,000
112,319
29,857,594
3,978,185
2,868,035
Actual
Variance
$ 4,898,668 $ (153,393)
25,000,000
70,131 42,188
29,968,799 (1 1 1,205)
2,464,042 403,993
134,100,736 136,896,155 131,724,642 5,171,513
85,000
4,332,647
85,000
6,832,647
(4,247,647)
(6,747,647)
(4,076,593)
23,478,696
(4,936,058)
23,478,696
85,000
6,832,647
(6,747,647)
2,491,968 7,428,026
23,478,696
$ 19,402,103 $ 18,542,638 $ 25,970,664 $ 7,428,026
88
89
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, 2015
Budget - GAAP Basis
REVENUES:
Taxes:
General property taxes
Severance tax
Specific ownership taxes
Penalties & interest
Total Taxes
Licenses and Permits
Moving Permits
Intergovernmental:
Grazing Act
Payment in lieu of taxes
Grants
Motor Vehicle Registrations
Highway user Tax fiord
Total Intergovernmental
Charges for Services:
Charges for services
Miscellaneous:
Earnings on Deposits
Special Assesment
Royalties
Miscellaneous
Total Miscellaneous
Fees:
Fees
Total Revenues
Original Final
Actual
$ 16,500,000 $ 16,500,000 $ 16,286,884
4,000,000 4,000,000 4,821,922
7,400,000 7,400,000 9,598,636
8,648
27,900,000 27,900,000 30,716,090
500,000 500,000
70,000
330,000
15,548,000
340,000
9,700,000
370,000
330,000
16,248,000
340,000
9,700,000
25,988,000 26,988,000
16,000,000 16,000,000
2,925,000 4,445,000
18,925,000 20,445,000
73,313,000 75,833,000
543,508
349,108
179,200
6,386,169
326,123
10,397,410
17,638,010
2,006,928
61,123
3,333
1 1,330,1 19
4,584,630
15,979,205
1,547,820
68,431,561
Variance
$ (213,116)
821,922
2,198,636
8,648
2,816,090
43,508
(20,892)
(150,800)
(9,861,831)
(13,877)
697,410
(9,349,990)
2,006,928
61,123
3,333
(4,669,881)
139,630
(4,465,795)
1,547,820
(7,401,439)
90
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, 2015
Budget - GAAP Basis
EXPENDITURES
Public Works
Bridge Construction
Maintenance of Condition
Maintenance of Support
Trucking Division
Mining Division
Administration
Pavement Management
Other Public Works
Total Public Works
Intergovernmental:
Grants-in-aid to cities/towns
Capital Expenditures
Total Expenditures
Net Change in Fund Balances
Fund Balance at Beginning of Year
Original Final
5,698,738
7,485,849
1,695,230
4,935,968
2,399,158
666,387
7,174,323
69,367,105
5,433,738
7,485,849
1,750,230
5,235,968
2,608,658
841,387
7,219,323
71,217,105
99,422,758 101,792,258
4,674,091
4,774,091
6,500
6,500
104,103,349 106,572,849
Actual
4,688,823
6,60 1,634
1,511,788
4,942,519
2,084,028
943,314
6,700,034
46,934,765
Variance
744,915
884,215
238,442
293,449
524,630
(101,927)
519,289
24,282,340
74,406,905 27,385,353
2,382,135 2,391,956
214,086 (207,586)
77,003,126 29,569,723
(30,790,349) (30,739,849) (8,571,565) 22,168,284
79,042,734 79,042,734 79,042,734
Fund Balance at End of Year $ 48,252,385 $ 48,302,885 $ 70,471,169 $ 22,168,284
91
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, 2015
Budget - GAAP Basis
REVENUES
Taxes:
General property taxes
Penalties & interest
Total Taxes
Intergovernmental:
Welfare
Total Revenues
EXPENDITURES
Public Health and Welfare:
Administration
Administrative - IV -D
Food Stamps
Other Programs
General Assistance
TANF
AND - State
Child Welfare
Day Care
(CONTINUED)
Original Final
Actual
Variance
$ 8,438,837 $ 8,438,837 $ 8,292,608 $ (146,229)
- - 5,411 5,411
8,438,837 8,438,837
23,902,000 26,920,000
32,340,837 35,358,837
8,746,700 9,936,700
3,1 1 1,900 3,111,900
579,200 579,200
3,912,600 3,912,600
130,000 130,000
12,740,000 15,090,000
984,500 984,500
8,298,019 (140,818)
24,810,497 (2,109,503)
33,108,516 (2,250,321)
9,415,149
3,163,939
(251)
740,163
64,652
2,815,251
138,758
15,212,368
953,031
521,551
(52,039)
251
(160,963)
(64,652)
1,097,349
(8,758)
(122,368)
31,469
92
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, 2015
Budget - GAAP Basis
EXPENDITURES(CONTIN UED):
OAP -A
Core Services
Administration - LEAP
Total Public Health and Welfare
Capital Expenditures
Total Expenditures
Other Financing Sources Uses
Net Change in Budgetary Fund Balances
Fund Balance at Beginning of Year
Fund Balance at End of Year
Original Final
98,000
1,068,000
200,000
116,000
1,068,000
200,000
Actual
115,565
1,022,415
119,147
Variance
435
45,585
80,853
31,570,900 35,"128,900 33,760,187 1,368,713
9,429 (9,429)
31,570,900 35,"128,900 33,769,616 1,359,284
769,937 229,937 (661,100) (891,037)
3,610,054 3,610,054 3,610,054
$ 4,379,991 $ 3,839,991 $ 2,948,954 $ (891,037)
93
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, 2015
Budget - GAAP Basis
Original Final Actual Variance
REVENUES
Intergovernmental:
Federal grants
State grants
Total Intergovernmental
Charges for Services:
Charges for services
Total Charges for Services
$ 6,046,618 $ 6,653,618 $ 6,620,244 $ (33,374)
1,216,506 1,216,506 1,374,899 158,393
7,263,124 7,870,124 7,995,143 125,019
396,000 396,000 420,136 24,136
396,000 396,000 420,136 24,136
Miscellaneous:
Donations 150,000 150,000 138,542 (11,458)
Miscellaneous - - 4,608 4,608
Total Miscellaneous 150,000 150,000 143,150 (6,850)
Total Revenues 7,809,124 8,416,124 8,558,429 142,305
EXPENDITURES
Economic Assistance:
Human resources general fund
Job service
Summer job hunt
Employment first
TANF
WIOA
WIA administration
WIA adult programs
WIA youth programs
WIA dislocated worker
Human resources lab pool
UI training program
- - (8,005) 8,005
939,000 1,039,000 1,210,208 (171,208)
30,000 30,000 39,999 (9,999)
- 270,000 - 270,000
- - 1,117 (1,117)
- - 248,384 (248,384)
182,000 182,000 7,972 174,028
852,875 852,875 824,343 28,532
690,000 800,000 763,916 36,084
500,000 500,000 445,157 54,843
350,000 350,000 248,113 101,887
195,000 195,000 75,571 119,429
94
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, 2015
Budget - GAAP Basis
Original Final Actual Variance
EXPENDITURES (CONTINUED):
Area Agency On Aging
AAA administration
OAA title 111-B
OAA title Ill -C1 congregate
OAA title Ill -C2
OAA in home support
Health services
AAA elder abuse
AAA ombudsman
Single entry point
Vale Grant
AAA case management
AAA state funds
Part E family caregiver support
CSBG
Colorado Choice Transitions
Total Economic Assistance
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
OAA area agency
Total Other Financing Sources
Net Change in Budgetary Fund Balances
Fund Balance at Beginning of Year
Fund Balance at End of Year
- - 12,582 (12,582)
92,500 92,500 82,991 9,509
219,959 219,959 179,043 40,916
531,646 531,646 490,627 41,019
75,000 113,500 134,793 (21,293)
27,200 27,200 10,064 17,136
30,000 30,000 21,601 8,399
2,027 2,027 2,228 (201)
6,958 10,458 9,368 1,090
1,820,000 1,850,000 1,835,085 14,915
9,659 9,659 9,789 (130)
- 20,206 (20,206)
871,332 871,332 949,964 (78,632)
88,629 88,629 80,086 8,543
303,175 358,175 361,371 (3,196)
4,515 4,515 5,849 (1,334)
7,821,475 8,428,475 8,062,422 366,053
7,821,475 8,428,475 8,062,422 366,053
12,351 12,351 12,351
12,351 12,351 12,351
508,358 508,358
758,892 758,892 758,892
$ 758,892 $ 758,892 $ 1,267,250 $ 508,358
95
COUNTY OF WELD
STATE OF COLORADO
Contingent Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended Year Ended December 31, 2015
Budgeted
REVENUES
Taxes:
General property taxes
Penalties & interest
Total Taxes
Total Revenues
EXPENDITURES
Pension Contribution
Total Expenditures
Other Financing Sources (Uses)
Transfers - Out
Other
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund Balance at End of Year
Original Final
$ $
Actual
Variance
- $ (254,623) $ (254,623)
5,626
- 5,626
10,000,000 28,300,000
10,000,000 28,300,000
(10,000,000) (28,300,000)
(248,997) (248,997)
(248,997) (248,997)
26,"150,000 2,150,000
26,150,000 2,150,000
2,000,000 2,000,000
(2,000,000) (2,000,000)
(28,398,997) (98,997)
34,988,751 34,988,751 34,988,751
$ 24,988,751 $ 6,688,751 $ 6,589,754 $ (98,997)
96
Supplemental Information
s‘di
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2015
NON -MAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Special revenue funds account for taxes or other earmarked revenue of the County that finances specified activities
as required by law or administrative action.
Conservation Trust Fund:
The Conservation Trust Fund accounts for revenue received from the State of Colorado to be used for the
acquisition, development and maintenance of new and existing conservation sites within Weld County.
The funds are derived from the Colorado State Lottery.
Public Health Fund:
The Weld County Public Health Department provides health services to County residents. The fund
reflects revenue and expenditures for health care, health education, health monitoring and other related
activities.
Solid Waste Fund:
This fund accounts for revenue received from a surcharge on dumping fees at solid waste disposal sites for
the purpose of combating environmental problems and for the further improvement and development of
landfill sites within the County.
Law Enforcement Authority Funds
These funds accounts for the revenue of the law enforcement authority. The authority is a taxing unit
created by the County to provide additional law enforcement services by the County Sheriff to residents in
a developed unincorporated area of the County
97
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2015
PROPRIETARY FUNDS
Enterprise Funds
Enterprise funds account for operations that arc financed and operated in a manner similar to private business
enterprises where the intent of the governing body is that the costs (expenses including depreciation) of providing
goods or services to the general public on a continuing basis be financed or recovered primarily through user
charges; or where the governing body has decided that periodic determination or revenue earned, expenses
incurred, and/or net income is appropriated for capital maintenance, public policy, management control,
accountability or other purposes.
Northern Colorado Regional Forensic Laboratory:
This Fund accounts for the maintenance and operation cost of the Northern Colorado Regional Forensic
Laboratory. It is funded by rents paid by the participating agencies.
Internal Service Funds
Motor Vehicle Fund:
This fund accounts for the revenue and costs generated by equipment and vehicles rented to various
departments of the County.
Health Insurance Fund:
This fund accounts for the County's self -insured dental and vision coverage. Revenue is generated from
contributions from the employees of the County. Disbursements are made after insured claims have been
verified and approved.
Insurance Fund:
This fund accounts for all insurance costs for the County, except health insurance. This program is a
combination of insured risks and protected self-insurance risks.
Phone Services Fund:
This fund accounts for all phone costs provided to the County and other outside agencies on a cost -
reimbursement basis.
98
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2015
FIDUCIARY FUNDS
Agency Funds
Agency funds account for assets held by the County as an agent for individuals, private organizations and/or other
governments.
General Agency Fund:
This fund accounts for all monies collected (principally tax collections) by the Weld County Treasurer for
various other local governmental units within the County.
Payroll Agency Fund:
This fund accounts for the accumulation of County payrolls and related withholdings. Disbursements are
made to the appropriate financial institutions through the payroll direct deposit system and the various
vendors for the withholdings.
Employee Flexible Spending:
This fund accounts for Weld County's Section 125, voluntary tax-sheltered plan, which the County
administers directly. Employee contributions to the plan are refunded upon submission of documentation
for un-reimbursed claims.
99
COUNTY OF WELD
STATE OF COLORADO
EXPLANATIONS OF FUNDS
December 31, 2015
COMPONENT UNITS
Component units are tied to the County with some board control. They operate as a separate fund but the
information is discretely presented.
Housing Authority Fund:
This fund works with all the low income citizens of Weld County to help with rent assistance or housing
repair.
E-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 91 l emergency telephone service program in Weld County.
100
101
COUNTY OF WELD
STATE OF COLORADO
Combining Balance Sheet
Non -Major Governmental Funds
December 31, 2015
Conservation
Trust Public Health Solid Waste
ASSETS
Cash and Investments
Receivables (net of allowance for uncollectibles):
Accounts
Other Assets
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts Payable
Accrued Liabilities
Due to other County funds
Unearned Revenues
Total Liabilities
Fund Balances:
Nonspendable
Restricted
Committed
Total Fund Balances
Total Liabilities and Fund Balances
$ 305,772
128,089
$ 8,695,726 $ 1,889,102
920,208 119,511
3,460
$ 433,861 $
433,861
9,619,394 $ 2,008,613
43,524
249,715
2,225
145,554
441,018
3,460
9,174,916
619
619
2,007,994
433,861 9,178,376 2,007,994
$ 433,861 $ 9,619,394 $ 2,008,613
102
Total
Law Nonmajor
Enforcement Governmental
Authority Fund Funds
$ - $ 10,890,600
1,167,808
3,460
$ - $ 12,061,868
44,143
249,715
2,225
145,554
441,637
3,460
9,608,777
2,007,994
- 11,620,231
$ - $ 12,061,868
103
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, 2015
Conservation
Trust Public Health Solid Waste
REVENUES:
Taxes:
Taxes
Intergovernmental
Charges for Services
Fines and Forfeitures
Miscellaneous
Total Revenues
EXPENDITURES:
Public Safety
Public Health and Welfare
Culture and Recreation
Capital Expenditures
Total Expenditures
$ - $ - $
411,605 3,058,305
- 2,001,492 1,659,312
21,040
2,080 100,231
413,685 5,181,068 1,659,312
358,431
8,694,027
40,095
1,026,309
358,431 8,734,122 1,026,309
Excess of Revenues Over (Under)
Expenditures 55,254 (3,553,054) 633,003
Other Financing Sources (Uses):
Transfers - in
Transfers - out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances at Beginning of Year
9,403,294
(667,998)
9,403,294 (667,998)
55,254 5,850,240 (34,995)
378,607 3,328,136 2,042,989
Fund Balances at End of Year $ 433,861 $ 9,178,376 $ 2,007,994
Total
Law Nonmaj or
Enforcement Governmental
Authority Fund Funds
$ 16,273 $ 16,273
3,469,910
3,660,804
21,040
102,311
16,273 7,270,338
16,273 1,042,582
8,694,027
358,431
40,095
16,273 10,135,135
- (2,864,797)
9,403,294
(667,998)
8,735,296
5,870,499
5,749,732
$ - $ 11,620,231
105
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, 2015
Budgeted
REVENUES
General property taxes
Penalties & interest
Total Taxes
Fees
Earnings on Deposits
Federal grants
Total Revenues
EXPENDITURES
Capital Outlay:
Buildings
Total Expenditures
Other Financing Sources (Uses)
Transfers - In:
Net Change in Fund Balance
Fund Balances at Beginning of Year
Original Final
$ $
Actual
Variance
$ (158,058) $ (158,058)
- 1,843 1,843
125,000
400,000
125,000
400,000
(156,215) (156,215)
209,580 84,580
126,126 (273,874)
1,100 1,100
525,000 525,000 180,591 (344,409)
1,836,306 6,322,306 3,717,583 2,604,723
1,836,306 6,322,306 3,717,583 2,604,723
(1,311,306) (5,797,306) (3,536,992) 8,676,922
18,636,649 18,636,649 18,636,649
Fund Balances at End of Year $ 17,325,343 $ 12,839,343 $ 15,099,657 $ 2,260,314
106
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, 2015
Budgeted
Original Final Actual Variance
KLVENUES
Intergovernmental:
State Lottery
Miscellaneous:
Earnings on Deposits
Total Revenues
EXPENDITURES
Culture and Recreation:
Land Improvements
Total Expenditures
Net Change in Fund Balances
Fund Balances at Beginning of Year
$ 450,000 $ 450,000 $ 411,605 $ (38,395)
2,500 2,500 2,080 (420)
452,500 452,500 413,685 (38,815)
486,520 486,520
358,431 128,0g9
486,520 486,520 358,431 128,089
(34,020) (34,020) 55,254 89,274
378,607 378,607 378,607
Fund Balances at End of Year $ 344,587 $ 344,587 $ 433,861 $ 89,274
107
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, 2015
Budgeted
REVENUES
Intergovernmental:
State grants
Total Intergovernmental
Charges for Services:
Charges for services
Total Charges for Services
Miscellaneous:
Fees and Fines
Other
Donations
Total Miscellaneous
Total Revenues
EXPENDITURES
Public Health and Welfare:
Public Health Administration
Health Education
Nursing
Environmental Health
Public Health Preparedness
Total Public Health and Welfare
Capital Outlay:
Capital Expenditures
Total Expenditures
Other Financing Sources (Uses):
Transfers - In:
N on -Departmental
Total Other Financing Sources
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
Original Final
Actual
Variance
$ 2,914,907 $ 2,914,907 $ 3,058,305 $ 143,398
2,914,907 2,914,907 3,058,305 143,398
1,602,546 1,602,546
1,602,546 1,602,546
5,000
22,208
5,000
22,208
27,208
27,208
4,544,661 4,544,661
180,000
1,384,417
4,609,559
2,995,624
278,355
180,000
1,384,417
4,609,559
2,995,624
278,355
9,447,955
9,447,955
9,447,955
9,447,955
4,903,294 9,403,294
4,903,294 9,403,294
4,500,000
3,328,136 3,328,136
$ 3,328,136 $ 7,828,136
2,001,492 398,946
2,001,492 398,946
21,040
81,958
18,273
121,271
16,040
81,958
(3,935)
94,063
5,181,068 636,407
198,520
1,245,737
4,038,041
2,958,846
252,883
(18,520)
138,680
571,518
36,778
25,472
8,694,027 753,928
40,095
(40,095)
8,734,122 713,833
9,403,294
9,403,294
5,850,240 1,350,240
3,328,136
$ 9,178,376 $ 1,350,240
108
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, 2015
Budgeted
REVENUES
Land Fill Surcharges
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
Fund Balances at End of Year
Original Final
Actual Variance
$ 1,100,000 $ 1,500,000 $ 1,659,312 $ 159,312
1,100,000 1,500,000 1,659,312 159,312
432,002 1,282,002 1,026,309 255,693
432,002 1,282,002 1,026,309 255,693
85,000
582,998
85,000
582,998
85,000
582,998
(667,998) (667,998) (667,998)
(450,000) (34,995) 415,005
2,042,989 2,042,989 2,042,989
$ 2,042,989 $ 1,192,989 $ 2,007,994 $ 415,005
109
COUNTY OF WELD
STATE OF COLORADO
Bebec Draw Law Enforcement Fund
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2015
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 Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 21,223 $ 21,223 $ 11,053 $ (10,170)
1,000 1,000 1,416 416
- - 3 3
22,223 22,223
12,472 (9,751)
22,223 22,223 12,472 9,751
22,223 22,223
$ -$
12,472 9,751
$ _ $
110
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, 2015
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 Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ 1,970 $ 1,970 $ 1,970 $
100 100 131
- - 3 _
2,070 2,070 2,104
31
3
34
2,070 2,070 2,104 (34)
2,070 2,070 2,104 (34)
$ $
$ $
111
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, 2015
Budgeted
Original Final Actual Variance
REVENUES
Taxes
General property taxes
Penalties & interest
Total Revenues
$ 1,590 $ 1,590 $ 1,591 $
- - 106
1
106
1,590 1,590 1,697 107
EXPENDITURES
Miscellaneous 1,590 1,590 1,697 (107),
Total Expenditures 1,590 1,590 1,697 (107)
Net Change in Fund Balance
Fund Balances at Beginning of Year
Fund Balances at End of Year
$ $
$ $
112
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, 2015
Budgeted
Original Final Actual Variance
REVENUES
Intergovernmental:
Federal grants
State grants
Total Intergovernmental
Miscellaneous:
Earnings on Deposits
Miscellaneous
Total Miscellaneous
Total Revenues
2,586,666 2,586,666 3,485,567 898,901
2,586,666 2,586,666 3,485,567 898,901
7,633 7,633
75,342 75,342
82,975 82,975
2,586,666 2,586,666 3,568,542 981,876
EXPENDITURES
Rent Assistance 2,319,314 2,319,314 3,161,622 (842,308)
Supplies 231,162 231,162 296,703 (65,541)
Depreciation - - 1,349 (1,349)
Total Expenditures 2,550,476 2,550,476 3,459,674 (909,198)
Net Change in Fund Balances
36,190 36,190
108,868 72,678
Fund Balances at Beginning of Year 2,179,977 2,179,977
Fund Balances at End of Year
$ 36,190 $ 36,190 $ 2,288,845 $ 2,252,655
113
COUNTY OF WELD
STATE OF COLORADO
E-91 1 Authority
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
For the fiscal year ended December 31, 2015
Budgeted
REVENUES
Miscellaneous:
Interest
Charges for services
Total Revenue
Expenditures
Depreciation
Purchased Services
Supplies
Total Expenditures
Net Change in Fund Balances
Fund Balances at Beginning of Year
Fund Balances at End of Year
Blank Page
Original Final
Actual
Variance
$ 10,000 $ 10,000 $ 9,978 $ (22)
2,450,000 2,450,000 2,331,190 (118,810)
2,460,000 2,460,000 2,341,168 (118,832)
413,842
1,501,481
521,754
413,842
1,501,481
521,754
2,437,077 2,437,077
22,923 22,923
4,745,091 4,745,091
463,564
1,488,324
519,954
(49,722)
13,157
1,800
2,471,842 (34,765)
(130,674) (153,597)
4,745,091
$ 4,768,014 $ 4,768,014 $ 4,614,417 $ (153,597)
114
115
Financial Planning 02,101
The public report burden thr this information collection is estimated to average 380 hours annually. Form # 350-050-36
LOCAL HIGHWAY FINANCE REPORT
City or County: Weld
YEAR ENDING :
December 2015
This Information From The Records Of County of Weld
Prepared By: Barbara Connolly
Phone: 9704004445.00
I. DISPOSITION OF HIGHWAY -USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE
ITEM
A. Local
Motor -Fuel
Taxes
B. Local
Motor -Vehicle
Taxes
C. Receipts from D. Receipts from
State Highway- Federal Highway
User Taxes Administration
1. Total receipts available
2. Minus amount used for collection expenses
3. Minus amount used for nonhighway purposes
4. Minus amount used for mass transit
5. Remainder used for hi _hwa ur sses
11. RECEIPTS FOR ROAD AND STREET PURPOSES
RI. DISBURSEMENTS FOR ROAD
AND STREET PURPOSES
ITEM
AMOUNT
ITEM
AMOUNT
A. Receipts from local sources:
A. Local highway disbursements:
I. Local highway -user taxes
1. Capital outlay (from page 2)
59,245,813
a. Motor Fuel (from Item 1.A.5.)
2. Maintenance:
12,429,907
b. Motor Vehicle (from Item I.B.5.)
3. Road and street services:
c. Total (a.+b.)
thnd
a. Traffic control operations
2. General appropriations
b. Snow and ice removal
1,629,778
3. Other local imposts (from page 2)
25,897,501
c. Other
372,178
4. Miscellaneous local receipts (from page 2)
20,074,128
d. Total (a. through c.)
2,001,956
5. Transfers from toll facilities
4. General administration & miscellaneous
3,325,449
6. Proceeds of sale of bonds and notes:
5. Highway law enforcement and safety
a. Bonds - Original Issues
6. Total (1 through 5)
77,003,125
b. Bonds - Refunding Issues
B. Debt service on local obligations:
c. Notes
I. Bonds:
d. Total (a. _ b. + c.)
0
a. Interest
7. Total (1 through 6)
45,971,629
b. Redemption
B. Private Contributions
c. Total (a. + b.)
0
C. Receipts from State government
(from page 2)
2. Notes:
21,931.624
a. Interest
D. Receipts from Federal Government
(from pag.c 2)
b. Redemption
528,308
c. Total (a. + b.)
0
E. Total receipts (A.7 + B + C + D)
68,431,561
3. Total (1.c + 2.c)
0
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements (A.6 + R.3 + C + O)
77,003,125
IV.
LOCAL HIGHWAY DEBT STATUS
(Show all entries at par)
Opening Debt
Amount Issued
Redemptions
Closing. Debt
y
A. Bonds Total
0
I . Bonds (Refundin Portion-
. otes (l ota )
V. LOCAL ROAD AND STREET FUND BALANCE
A. Beginning Balance
B. Total Receipts IC. Total Disbursement4 D. Ending Balance
E. Reconciliation
79,042)33
68,431,561 I
77,003,125
I 70,471,169
0
Notes and Comments:
FORM FHWA-536 (Rev. 1-05)
PREVIOUS EDITIONS OBSOLETE
1
(Next Page)
2015 Local Highway Finance Report.xls
116
LOCAL HIGHWAY FINANCE REPORT
STATE:
Colorado
YEAR ENf)TNG (mm/yy):
December 2015
II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL
ITEM
AMOUNT
ITEM
AMOUNT
4.3. Other local im osts:
4.4. M scellancous local retell Its:
a. Property Taxes and Assessments
16,298.865
a. Interest on investments
61,123
b. Other local imposts:
b. Traffic Fines & Penalities
1. Sales Taxes
c. Parking Garage Fees
2. Infrastructure & Imiact Fees
d. Parking Meter Fees
3. Liens
c. Sale of Surplus Property
4. Licenses
f. Charges for Services
2,006,928
5. Specific Ownership &/or Other
9,598,636
g. Other Misc. Receipts
2,091,328
6. Total (1. through 5.)
9,598,636
h. Other
15,914,749
c. Total (a. + b.)
25,897.501
(Carry forward to a c 1)
i. Total (a. throu h.)
20,074,128
(Carr ' forward to a c I)
ITEM
AMOUNT ITEM
AMOUNT
C. Recei I is from State Government
D. Recei its from Federal Government
1. Hi hwa -user taxes
10,397.410 1. FHWA (from Item 1.D.5.)
2. State general funds
2. Other Federal agencies:
3. Other State funds:
a. Forest Service
349,108
a. State bond proceeds
b. FEMA
b. Project Match
c. HUD
c. Motor Vehicle Registrations
326,123
d. Federal Transit Admin
d. Other (Specify) - DOLA Grant
e. U.S. Corps of Engineers
c. Other (Specify)
11,208,091
f. Other Fcdcral
179,200
f. Total (a. through e.)
11,534,214
g. Total (a. through f.)
528,308
4. Total 1. + 2. - 3.f
21 931.624
3. Total 1. + 2._
(Carry forward to page 1)
Ill. DISBURSEMENTS FOR ROAD AND STREET PURPOSES - DETAIL
A.1. Ca a ital. outla r:
a. Right -Of -Way Costs
ON NATIONAL
HIGHWAY
OFF NATTONAI_
HIGHWAY
SYSTEM
(b)
2,087,504
TOTAL
(c)
2,087,504
SYSTEM
(a)
b. En_ineerin Costs
c. Construction:
(1). New Facilities
4,363.092
4,363.092
0
(2). Capacity Improvements
34,910,100
34,910,100
(3). System Preservation
17,885,117
17,885,117
(4). System Enhancement & Operation
0
(5). Total Construction (1) + (2) ± (3) + (4)
0
52,795;217
52,795;217 ,
d. Total Capital Outlay (Lines l.a. + 1.b. + 1.c.5)
0
59,245,813
59,245,813
(Carry Lhrward to page I )
Notes and Comments:
FORM FHWA-536 (Rev.1-05)
PREVIOUS EDITIONS OBSOLETE
2
117
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Net Position
Internal Service Funds
December 31, 2015
ASSETS
Current Assets:
Cash and cash equivalents
Receivables (net of allowances for uncollectables):
Property taxes receivable
Delinquent property taxes
Accounts
Due From other County Funds
Inventory
Other Assets
Total current assets
Fixed assets:
Improvements other than buildings
Construction in progress
Buildings
Machinery and Equipment
Accumulated Depreciation
Total Fixed Assets
Total assets
LIABILITIES, DEFERRED INFLOWS AND NET
POSITION
Current Liabilities
Accounts Payable
Accrued Liabilities
Unearned Revenues
Total Current Liabilities
Deferred Inflows of Resources
Property Taxes
Total Deferred Inflows of Resources
Total Liabilities and Deferred Inflows
Net Position
Invested in capital assets
Restricted for:
Insurance Claims
Unrestricted
Total net position
Health
Motor Vehicle Insurance
Insurance
$ 2,553,421 $ 14,149,520 $ 3,658,701
10,579
53,446
2,053,081
33,450
2,617,446 14,149,520 5,745,232
1,173,951
36,000
2,111,422
43,819,102
(27,400,190)
19,740,285
$ 22,357,731 $ 14,149,520 $ 5,745,232
$ 479,015 $ 42,218 $ 45,783
2,881,794 2,013,218
1,526,376
479,015 4,450,388 2,059,001
- - 2,054,977
2,054,977
479,015 4,450,388 4,113,978
19,740,285
2,138,431
9,699,132 1,631,254
$ 21,878,716 $ 9,699,132 $ 1,631,254
Total Internal
Phone Services Service Funds
$ 134,521 $ 20,496,163
2,053,081
2,449
49,915
186,885
874,643
1,482,682
(1,295,812)
1,061,513
13,028
33,450
53,446
49,915
22,699,083
1,173,951
910,643
2,111,422
45,301,784
(28,696,002)
20,801,798
$ 1,248,398 $ 43,500,881
$ 6,350 $ 573,366
32,07K 4,927,090
1,526,376
38,428 7,026,832
2,054,977
2,054,977
38,42K 9,081,K09
1,061,513 20,8()1,79K
1 1,330,386
148,457 2,286,888
$ 1,209,970 $ 34,419,072
119
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Revenues, Expenditures and Changes in Net Position
Internal Service Funds
For the fiscal year ended December 31, 2015
Operating revenues:
Employer Contributions
Charges for Services
Total operating revenues
Operating expenses:
Personnel Services
Supplies
Purchased Services
Insurance and Bonds
Depreciation
Other
Claims
Total operating expenditures
Operating income (loss)
Nonoperating Revenues (Expenses)
Taxes
Miscellaneous
Earnings on investments
Grants
Gains (loss) on Disposal
Judgment and Damages
Total nonoperating revenues (expenses)
Income (loss) before contributions and transfers
Changes in net position
Total net position - beginning
Total net position - ending
Motor Vehicle
Health
Insurance
$ - $
9,717,421
9,717,421
1,436,072
5,591,782
3,982,366
87,688
Insurance
18,189,712 $
1,397 75,647
18,191,109
9,331
1,536,338
98,076
75,647
7,685
39,247
684,730
- 13,872,911 1,863,867
11,097,908
( 1,380,487)
2,549
430,532
98,778
531,859
(848,628)
(848,628)
22,727,344
$ 21,878,716
15,516,656 2,595,529
2,674,453 (2,519,882)
1,956,254
28,013
34,527
2,018,794
2,674,453 (501,088)
2,674,453 (501,088)
7,024,679 2,132,342
$ 9,699,132 $ 1,631,254
Total Internal
Phone Services Service Funds
$ - $ 18,189,712
1,397,937 11, 192,402
1,397,937 29,382,114
310,864 310,864
18,858 1,471,946
1,309,244 8,476,611
684,730
132,958 4,115,324
63,991 249,755
15,736,778
1,835,915 31,046,008
(437,978) (1,663,894)
1,956,254
2,549
28,013
430,532
98,778
34,527
2,550,653
(437,978) 886,759
(437,978) 886,759
1,647,948 33,532,313
$ 1,209,970 $ 34,419,072
121
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Cash Flows
Internal Service Funds
For the fiscal year ended December 31, 2015
Motor Vehicle Health Insurance Insurance
Fund Fund Fund
CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from external customers 72,024
Cash flows from internal customers 9,341,985 18,335,517 58,447
Cash payments to external suppliers for goods and services (6,629,612) (15,409,390) (2,494,174)
Cash payments to internal suppliers for goods and services (148,023) (19,107)
Cash payments to employees for services
Judgements/damages/losses - - 34,527
Miscellaneous revenues 2,549
Net cash provided (used) by operating activities 2,638,923 2,907,020 (2,401,200)
Im
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Taxes
Transfers/Advances
Grants
Net cash provided by noncapital financing activities
440,053
1,954,981
440,053 - 1,954,981
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets
Proceeds from sale of capital assets
(3,500,048)
263,597
Net cash provided (used) for capital and related
financing activities (3,236,451)
im
CASH FLOWS FROM INVESTING ACTIVITIES
Interest on investments - - 28,013
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
(157,475) 2,907,020 (418,206)
2,710,896 11,242,500 4,076,907
2,553,421 14,149,520 3,658,701
(1,380,487)
3,982, 366
2,549
(4,591)
3,883
I.
35,203
INS
4,019,410
2,674,453 (2,519,882)
mb
im
68,851
(22,901) 29,003
48,803 88,602
34,527
(16,590)
(33,450)
137,814 16,590
232,567 118,682
2,638,923 2,907,020 (2,401,200)
71,501
122
Phone Service Total Internal
Fund Service Funds
25,221 97,245
1,373,684 29,109, 633
(397,645) (24,930,821)
(1,043,593) (1,210,723)
(301,110) (301,110)
- 34,527
- 2,549
(343,443) 2,801,300
1,954,981
440,053
2,395, 034
(874,643) (4,374,691)
- 263,597
(874,643) (4,111, 094)
- 28,013
(1,218,086)
1,352,607
1,113,253
19,382, 910
134,521 20,496,163
(437,978) (1,663,894)
132,958 4,115,324
- 34,527
- 2,549
(150) (21,331)
- (33,450)
- 3,883
(49,915) 18,936
2,316 43,621
9,326 146,731
el e
154,404
94,535 4,465,194
(343,443) 2,801,300
- el
71,501
123
COUNTY OF WELD
STATE OF COLORADO
Combining Statement of Changes in Assets and Liabilities
Fiduciary Funds
For the fiscal year ended Year Ended December 31, 2015
Balance Balance
1/1/2015 Additions Deductions 12/31/2015
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 (net of allowance for
uncollectible):
Total Assets
Liabilities:
Accounts Payable
Total Liabilities
EMPLOYEE FLEXIBLE SPENDING
Assets:
Cash and Investments
Total Assets
Liabilities:
Accounts Payable
Total Liabilities
TOTAL - ALL AGENCY FUNDS
Assets:
Cash and Investments
Accounts Receivable
Total Assets
Liabilities:
Accounts payable
Due to other governments
Total Liabilities
$ 8,969,570 $ 9,823,221 $ 9,267,757 $ 9,525,034
$ 8,969,570 $ 9,823,221 $ 9,267,757 $ 9,525,034
$ - $ 3,100 $ 3,100 $
8,969,570 9,791,960 9,236,496 9,525,034
$ 8,969,570 $ 9,795,060 $ 9,239,596 $ 9,525,034
$ 142,337 $ 26,420,479 $ 26,412,947 $ 149,869
1,484 12,098 12,352 1,230
$ 143,821 $ 26,432,577 $ 26,425,299 $ 151,099
$ 143,821 $ 27,966,715 $ 27,959,437 $ 151,099
$ 143,821 $ 27,966,715 $ 27,959,437 $ 151,099
$ 45,723 $ 68,659 $ 59,489 $ 54,893
$ 45,723 $ 68,659 $ 59,489 $ 54,893
$ 45,723 $ 68,659 $ 59,489 $ 54,893
$ 45,723 $ 68,659 $ 59,489 $ 54,893
$ 9,157,630 $ 36,312,359 $ 35,740,193 $ 9,729,796
$ 1,484 $ 12,098 $ 12,352 $ 1,230
$ 9,159,1 14 $ 36,324,457 $ 35,752,545 $ 9,731,026
$ 189,544 $ 28,038,474 $ 28,022,026 $ 205,992
8,969,570 9,791,960 9,236,496 9,525,034
$ 9,159,114 $ 37,830,434 $ 37,258,522 $ 9,731,026
124
COUNTY OF WELD
STATE OF COLORADO
Northern Colorado Regional Forensic Laboratory
Schedule of Revenues, Expenses and
Changes in Net Position - Budget and Actual
For the fiscal year ended Year Ended December 31, 2015
Budgeted
Operating Expenses:
Supplies
Purchased Services
Other
Total Operating Expenses
Operating Income (Loss)
N onoperating Revenues:
Federal grants
Total Nonoperating Revenues
Net Income (Loss)
Net Position at Beginning of Year
Net Position at end of Year
Original Final
Actual
Variance
- $ 2,813 $
135,256
2,808
(2,813)
(135,256)
(2,808)
140,877 140,877
(140,877) (140,877)
140,877 140,877
140,877 140,877
125
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, 2015
Budgeted
Operating Revenues:
Charges for services
Miscellaneous
Total Operating Revenues
Operating Expenses:
Supplies
Purchased Services
Depreciation
Other
Total Operating Expenses
Operating income (loss)
Nonoperating Revenues (Expenses):
Other
Grant
Gain/Loss on Disposal
Total Nonoperating Revenues(Expenses)
lncome(Loss) before contributions and transfers
Net Income (Loss)
Net Position at Beginning of Year
Net Position at End of Year
Original Final
Actual
$ 5,709,543 $ 6,304,543 $
3,400,000 3,400,000
9,109,543
9,704,543
2,521,000
3,036,000
3,400,000
87,687
1,521,000
5,096,000
3,400,000
87,687
9,044,687
10,104,687
64,856
(400,144)
1,407,155 1,677,155
(39,856) (74,856)
1,367,299 1,602,299
1,432,155
1,202,155
1,432,155
22,727,344
1,202,155
22,727,344
Variance
5,732,032 $ (572,511)
3,985,389 585,389
9,717,421 12,878
1,436,072
5,591,782
3,982,366
87,688
11,097,908
(1,380,487)
2,549
430,532
98,778
531,859
(848,628)
(848,628)
22,727,344
84,928
(495,782)
(582,366)
(1)
(993,221)
(980,343)
2,549
(1,246,623)
173,634
(1,070,440)
(2,050,783)
(2,050,783)
$ 24,159,499 $ 23,929,499 $ 21,878,716 $ (2,050,783)
126
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, 2015
Budgeted
Operating Revenues:
Employee Premiums
Charges for services
Total Operating Revenue
Operating Expenses:
Supplies
Purchased Services
Other
Insurance 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
$ 17,914,044 $ 17,914,044 $ 18,189,712 $ 275,668
1,397 1,397
17,914,044 17,914,044 18,191,109 277,065
196,500 196,500
726,500 726,500
1,496,061 1,496,061
15,494,983 15,494,983
9,331 187,169
1,536,338 (809,838)
98,076 1,397,985
13,872,911 1,622,072
17,914,044 17,914,044 15,516,656 2,397,388
2,674,453 2,674,453
2,674,453 2,674,453
7,024,679 7,024,679 7,024,679
$ 7,024,679 $ 7,024,679 $ 9,699,132 $ 2,674,453
127
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, 2015
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Supplies
Purchased Services
Insurance and Bonds
Insurance Claims
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
General property taxes
Penalties & interest
Interest
Judgment and Damages
Total Nonoperating Revenues (Expenses)
Income(Loss) before contributions and transfers
Net Income (Loss)
Net Position at Beginning of Year
Net Position at End of Year
Original Final
$ 80,000 $
Actual Variance
80,000 $
3,500
43,500
550,000
1,563,000
3,500
43,500
750,000
1,863,000
2,160,000
2,660,000
(2,080,000)
(2,580,000)
2,000,000
30,000
50,000
2,000,000
30,000
50,000
2,080,000
2,080,000
2,132,342
(500,000)
(500,000)
2,132,342
75,647 $ (4,353)
7,685
39,247
684,730
1,863,867
2,595,529
(4,185)
4,253
65,270
(867)
64,471
(2,519,882) 60,118
1,955,056
1,198
28,013
34,527
(44,944)
1,198
(1,987)
(15,473)
2,018,794 (61,206)
(501,088)
(1,088)
(501,088) (1,088)
2,132,342
$ 2,132,342 $ 1,632,342 $ 1,631,254 $ (1,088)
128
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, 2015
Budgeted
Operating Revenues:
Charges for services
Operating Expenses:
Personnel Services
Supplies
Purchased Services
Depreciation
Other
Total Expenditures
Operating Income (Loss)
Net Income (Loss)
Fund Balance, Beginning of Year
Fund Balance, End of Year
Original Final
Actual Variance
$ 1,412,749 $ 1,412,749 $ 1,397,937 $ (14,812)
286,504
600
800,262
261,392
63,991
301,504
18,600
1,282,462
261,392
63,991
310,864
18,858
1,309,244
132,958
63,991
1,412,749 1,927,949 1,835,915
(515,200)
(515,200)
(9,360)
(258)
(26,782)
128,434
92,034
(437,978) 77,222
(437,978) 77,222
1,572,295 1,647,948 1,647,948
$ 1,572,295 $ 1,132,748 $ 1,209,970 $ 77,222
129
130
STATISTICAL
SECTION
STATISTICAL SECTION
(unaudited)
This part of the Weld County Government's comprehensive financial report presents detailed information
as a context for understanding what the information in the financial statements, note disclosures, and
required supplementary information says about the government's overall financial health.
Contents
Financial Trends
These schedules contain trend information to help the reader
understand how the government's. financial performance and
well-being have changed over time.
Revenue Capacity
These schedules contain information to help the reader assess
the government's most significant local revenue source, the
property tax.
Debt Capacity
Weld County is without bonded debt and, accordingly, the
following statistical tables are not presented: Ratios of
Outstanding Debt by Type and Ratios of General Bonded Debt
Oustanding.
Demographic and Economic Infonnation
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
government's .financial activities take place.
Operating Information
These schedules contain service and infrastructure rastructure data to help
the reader understand how the information in the government's
financial report relates to the services the government provides
and the activities it performs.
Page
132
140
145
149
154
Sources_ Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
COUNTY OF WELD
STATE OF COLORADO
Net Position by Component
Last Ten Years
(accrual basis of accounting)
Govermental activities
Invested in capital assets, net of related debt
Restricted for
Programs
Emergencies
Claims
Public Works
Other
Unrestricted
Total governmental activities net position
Business -type activities
Invested in captial assets, net of related debt
Unrestricted
Total business -type activities net position
Primary government
Net Investment in Capital Assets
Restricted
Unrestricted
Total primary government net position
Fiscal Year
2006 2007 2008
$ 233,626,280 S 249,237,323 S 253,009,697
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
2009
S 256,826,307
4,524,110
6,000,000
2,270,613
2010
S 254,893,784
4,912,503
6,000,000
4,734,410
48,545,826 40,122,962 37,397,773 40,819,002 66,081,025
S 291,874,507 S 300,097,258 S 300,711,124 S 310,440,032 S 336,621,722
S 852,705 S 987,445 S 1,076,125 $ 1,011,224 S 1,305,614
2,118,077 2,191,453 2,776,179 2,478,408 3,194,266
S 2,970,782 5 3,178,898 S 3,852,304 S 3,489,632 S 4,499,880
S 234,478,985 S 250,224,768 S 254,085,822 S 257,837,531
9,702,401 10,73 6,973 10,3 03,654 12,794,723
50,663,903 42,314,415 40,173,952 43,297,410
5 294,845,289 $ 303,276,156 S 304,563,428 S 313,929,664
S 256,199,398
15,646,913
69,275,291
S 341,121,602
2011 2O12 2O13 2O14 2015
S 252,365,188 S 260,630,887 S 270,069,712 S 297,892,975 S 340,942,910
5,360,845 6,197,551 5,736,608 8,104,172 7,493,150
6,000,000 6,000,000 6,000,000 7,000,000 7,000,000
4,734,409 4,734,409 4,734,409 4,734,409 4,734,408
- 39,542,250 63,999,271 89,429,234 79,771,261
- 1,000,426 1,485,432 1,049,628 1,866,083
74,131,389 50,626,441 58,762,664 66,196,157 53,394,168
S 342,591,831 S 368,731,964 $ 410,788,096 5 474,406,575 5 495,201,980
S 1,524,148 5 - S - S - S
3,526,143 - (1,323) 579 (10,232)
5 5,050,291 5 - S (1,323) S 579 5 (10,232)
S 253,889,336 S 260,630,887 S 270,069,712 S 297,892,975 S 340,942,910
16,095,254 57,474,636 81,955,720 110,31 7,443 100,864,902
77,657,532 50,626,441 58,761,341 66,196,736 53,383,936
S 347,642,122 S 368,731,964 5 410,786,773 5 474,407,154 5 495,191,748
COUNTY OF WELD
STATE OF COLORADO
Changes in Net Position
Last Ten Years
(accrual basis of accounting)
Expenses
Governmental activities:
General government
Public safety
Streets and highways
Health and welfare
Culture and recreation
Economic assistance
Interest on long-term debt
Total governmental activities expenses
Business -type activites:
Paramedic service
Northern Colorado Regional Crime Lab
Total primary government expenses
Program Revenues
Governmental activites:
Charges for services:
General government
Public safety
Streets and highways
Health and welfare
Culture and recreation
Economic assistance
Operating grants and contributions
Capital grants and contributions
Total governmental activities program revenues
Business -type activities:
Paramedic service
Northern Colorado Regional Crime Lab
Total primary government revenues
Net (Expenses)/Revenue
Governmental activities
Business -type activities
Total primary government net
General Revenues and Other Changes in Net Position
Governmental activities:
Taxes:
Property taxes
Specific Ownership
Other
Royalties
Miscellaneous
Unrestricted investment earnings
Donated capital assets
Transfers
Total governmental activities
Business -type activities:
Paramedic service
Northern Colorado Crime Lab
Total primary government
Change in Net Position
Governmental activities
Business -type activities
Total primary government
2006
$ 26,641,373 $
32,562,998
37,068,628
26,179,807
1,549,379
11,747,943
322 293
136.072.421
2007
35,301,327
36,717,165
34,637,731
31,026,419
1,008,703
14,403,662
335 771
153.430.778
2008
$ 31,019,065 $
40,496,490
40,795,016
35,117,225
1,077,743
14,601,330
2009
31,738,352
40,649,718
31,123,536
39,882,326
1,013,683
15,546,027
2010
$ 31,497,117
40,551,255
34,662,990
37,946,589
1,215,481
9,262,302
163.106.869 159.953.642 155.135.734
7,156,700
8,444,840
9,289,761 9,310,991 6,349,218
$ 143,229,121 $ 161,875,618 $ 172,396,630 $ 169,264,633 $ 161,484,952
$ 12,265,623 $
6,378,749
4,023,310
14,949,936
345,990
1,186,129
30,045,943
69,195,680
7,809,516
10,043,033
4,998,285
3,566,774
17,504,660
453,352
838,871
36,500,297
4,738,627
78,643,899
8,652,955
$ 11,681,170
5,814,979
3,518,926
19,870,091
468,488
756,698
33,134,702
25,454
75,270,508
9,113,166
$ 8,728,521
5,658,339
3,262,996
21,091,150
448,990
1,041,768
36,580,590
$ 10,117,110
7,021,139
1,932,790
21,311,474
549,483
834,429
27,858,758
76,812,354
7,563,318
69,625,183
5,859,468
77.005.196
87,296,854
84.383.674
84.375.672
75.484.651
(66,876,741)
652,816 _
$ (66,223,925) $
$ 62,124,792 $
6,614,819
5,266,786
4,539,172
7,602
(1,3 00,000)
77,253,171
(74,786,879)
208,115
(74,578,764)
(87,836,361)
(176,595)
$ (88,012,956)
(83,141,288)
(1,747,673;
$ (84,888,961)
67,215,993 $ 72,735,158 $
7,056,071 7,035,189
3,546,134 5,454,324
5,191,430
4,075,554
75,047,892
6,167,691
3,472,065
1,707,235
5,468,676
2,391,636
(850,000) (1,385,000),
83,009,628 88,450,225 92,870,19.5
(85,510,551)
(489,750)
$ (86,000,301)
$ 95,251,609
6,018,849
845,578
2,556,866
6,415,403
2,103,942
(1,500,000)
111,692,247
850,000
1,385,000
1,500,000
$ 77,253,171 $ 83,009,628 $ 89,300,225 $ 94,255,195
$ 10,376,430 $ 8,222,749 $ 613,864
652,816 208,115 673,405
$ 11,029,246 $ 8,430,864 $ 1,287,269
$ 9,728,907
(362,673)
$ 9,366,234
$ 113,192,247
$ 26,181,696
1,010,250
$ 27,191,946
134
2011
2012
2013
2014
2015
$ 31,930,407 $ 34,788,024 $ 43,458,478 $ 46,770,013 $ 37,495,116
42,613,038 44,204,968 47,903,331 54,027,026 58,172,560
37,519,293 37,223,683 39,964,090 42,894,441 43,926,350
35,881,864
1,123,268
8,115,722
36,853,734
1,345,018
7,420,075
38,792,474
1,511,184
8,481,320
39,085,217
1,792,648
9,408,488
42,851,911
1,611,666
8,172,946
157.183.592 161.835.502 180.110.877 193.977.833 192.230.549
5,964,112
2,846,859
73,321 147,713 151,688
$ 163,147,704 $ 164,682,361 $ 180,184,198 $ 194,125,546 $ 192,382,237
$ 12,644,748
6,023,109
2,022,037
19,360,887
619,316
822,309
24,034,211
$ 11,570,917
7,294,578
3,439,523
22,209,032
725,868
381,199
23,821,017
$ 12,595,814
8,981,482
4,473,145
24,231,535
928,631
493,180
32,277,806
$ 13,477,033 $
13,229,980
5,825,407
25,041,461
1,154,300
567,753
30,442,859
16,052,536
12,538,210
8,907,810
26,912,220
1,045,533
558,678
32,691,222
65,526,617
6,514,522
69,442,134
1,954,205
72.041.139
71.396.339
83,981,593
71,998
84.053.591
89,738,793
149,615
89.888.408
98,706,209
140,877
98.847.086
(91,656,975) (92,393,368) (96,129,284) (104,239,040) (93,524,340)
550,410 (892,654) (1,323) 1,902 (10,811)
$ (91,106,565) $ (93,286,022) $ (96,130,607) $(104,237,138) $ (93,535,151)
$ 76,808,723 $
5,743,784
1,794,415
7,169,988
4,305,446
1,804,728
88,229,111
7,302,134
2,410,032
12,083,892
3,009,211
1,341,489
4,157,638
$ 105,940,590
7,347,314
2,291,667
17,325,773
4,098,817
1,181,245
$ 115,694,397 $
10,028,385
4,350,529
31,503,068
4,807,802
1,473,338
127,447,260
9,600,158
5,115,072
11,330,119
4,220,711
1,190,383
97,627,084 118,533,507 138,185,406 167,857,5 19 158,903,703
- (4,157,638)
$ 97,627,084 $ 114,375,869
$ 5,970,109 $ 26,140,139
550,410 (5,050,292)
$ 6,520,519 $ 21,089,847
$ 138,185,406
$ 42,056,122
(1,323.
$ 42,054,799
$ 167,857,519
$ 63,618,479
1,902
$ 63,620,381
$ 158,903,703
$ 65,379,363
(10,811)
$ 65,368,552
135
COUNTY OF WELD
STATE OF COLORADO
Fund Balances of Governmental Funds
Last Ten Years
(accrual basis of accounting)
General Fund
Reserved
Unreserved
N onspendable *
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*
Total for all governmental funds
2006
2007
2008
2009
2010
$ 946,073 $ 1,081,217 $ 1,161,271 $ 846,808 $ 1,882,253
10,630.592 7,007,528 10,645,617 9,960,565 9,967,335
$ 11,576,665 $ 8,088,745 $ 11,806,888 $ 10,807,373 $ 11,849,588
19,019,004 12,074,704 12,631,501 9,861,718 7,138,513
25,281,236 27,791,990
272,790
25,032,274 32,475,341 57,755,218
(2,064,635) 1,617,052 6,362,877
$ 55,876,905 $ 48,228,229 $ 47,406,028 $ 54,761,484 $ 83,106,196
* Difference in fund balance presentation is due to implementation of GASB 54 in 2011
136
2011 2012 2013 2014 2015
$
687.239 1,216,973 677,240 683,377 867,532
6,000,000 6,863,582 7,114,812 7,671,021 8,432.222
1,927,404 2,305,309 2,089,993 2,105,601 2,071,938
1,808,529 615,428 1,527,256 1,581,113 736,158
10,691,668 10,126,783 10,165,207 11,437,583 13,862,814
$ 21,114,840 $ 21,128,075 $ 21,574,508 $ 23,478,695 $ 25,970,664
963,566 1,020,322 1,321,277 1,253,485 1,281,841
36,493,043 40,377,056 57,704,338 85,864,936 83,017,769
32,295,274 46,347,303 55,508.238 55,668,390 23,697,405
$ 90,866,723 $ 108,872,756 $ 136,108,361 $ 166,265,506 $ 133,967,679
137
COUNTY OF WELD
STATE OF COLORADO
Changes in Fund Balances, Governmental Funds
Last Ten Years
(accrual basis of accounting)
2006 2007 2008 2009 2010
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
$ 69,178,181 $ 74,627,631 $ 80,182,212 $ 84,642,477 $ 102,079,791
3,188,354 2,129,731 2,089,925 1,467,282 2,512,999
44,982,577 53,886,023 52,887,281 61,100,082 53,021,343
135,908 416,668 295,246 323,411 587,330
8,232,213 7,800,131 8,898,865 8,939,683 7,771,230
13,377,598 9,567,707 12,523,751 7,132,908 8,133,573
8,602,079 8,061,587 7,845,617 7,546,478 8,827,457
147,696,910 156,489,478 164,722,897 171,152,321 182,933,723
25,366,204 32,605,930 29,061,657 28,311,209 29,608,752
31,881,427 35,945,956 38,564,419 38,668,759 38,176,653
26,315,156 31,798,757 36,643,514 29,595,637 28,524,940
25,993,962 30,940,641 34,585,229 39,287,989 36,850,368
1,550,929 1,011,311 1,077,592 1,014,422 1,214,300
11, 746,242 14,449,197 14,459,482 14,622,541 9,086,301
14,980,649 17,050,592 9,883,207 9,911,307 8,627,695
322,293 335,771 - - -
138,156,862 164,138,155 164,275,100 161,411,864 152,089,009
9,540,048 (7,648,677) 447,797 9,740,457 30,844,714
11,309,847 4,340,010 4,914,085 7,583,632 7,157,161
12,609,847 4,340,010 6,184,085 9,968,632 9,657,161
(1,300,000) - (1,270,000) (2,385,000) (2,500,000)
$ 8,240,048 $ (7,648,677) $ (822,203) $ 7,355,457 $ 28,344,714
Debt Service as a percentage of noncapital expenditures 0.00 %
0.26 % 0.23 %
0.00 % 0.00 %
138
2011 2012 2013 2014 2015
$ 84,310,617 $ 97,903,945 $ 115,265,310 $ 130,031,486 $ 141,611,918
2,093,316 2,968,095 3,341,876 5,434,346 4,259,547
44,670,251 45,584,435 51,914,958 56,514,382 60,481,735
441,455 319,091 342,566 351,384 734,179
6,899,382 7,748,408 9,950,307 13,024,221 13,553,203
15,397352 19,019,845 24,954,352 41,065,332 24,064,183
9,445,288 10,3 92,181 11,297,774 12,202,782 13,559,930
163,257,661 183,936,000 217,067,143 258,623,933 258,264,695
30,964,059 31,775,959 41,791,404 47,479,034 90,138,082
40,657,128 43,270,068 46,843,573 52,038,711 55,702,273
30,834,148 37,846,573 39,783,527 59,780,472 85,573,209
35,187,959 36,737,703 38,802,420 39,439,892 42,714,599
1,127,873 1,346,107 1,526,889 1,793,944 1,623,459
7,880,482 7,517,791 8,539,305 9,571,342 8,496,919
7,795,485 7,589,459 12,144,427 15,963,395 6,313,983
154,447,134 166,083,660 189,431,545 226,066,790 290,562,524
8,810,527 17,852,340 27,635,598 32,557,143 (32,297,829)
15,807,328 11,194,959 13,766,733 10,970,458 9,500,645
16,857,328 11,041,260 14,166,733 13,370,458 9,500,645
(1,050,000) 153,699 (400,000) (2,400,000)
$ 7,760,527 $ 18,006,039 $ 27,235,598 $ 30,157,143 $ (32,297,829)
0.00 %
0.00 % 0.00 %
0.00 % 0.00 %
139
COUNTY OF WELD
STATE OF COLORADO
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Years
Levy
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Vacant
Land
110,566,010
132,402,840
125,609,000
114,462,060
107,499,350
82,601,960
76,770,990
67,644,470
62,623,500
75,809,040
Residential
Property
1,051,061,180
1,218,082,640
1,258,374,790
1,147,417,980
1,161,670,030
1,1 10,455,180
1,126,143,600
1,125,171,520
1,153,472,230
1,447,893,380
Source: Office of the Weld County Assessor
Commercial
Property
538,352,810
631,036,750
654,957,800
703,405,460
713,727,230
700,148,970
741,004,020
717,135,660
733,310,060
778,585,040
Industrial
Property
194,235,560
214,051,130
216,214,910
281,991,090
338,066,670
343,525,350
405,141,700
444,712,190
540,611,520
639,540,080
Auricultural
175,708,230
96,371,890
97,874,960
100,747,790
100,999,290
117,189,830
120,086,240
141,969,440
148,595,520
179,732,720
Natural
Resources
10,876,640
14,538,010
14,996,920
15,959,790
12,388,270
12,839,310
12,176,900
14,519,910
14,908,830
18,995,220
Note: The assessment ratio for Residential Property was 10.36 in 1995, changed to 9.74 in 1997, 9.15 in 2001 and 7.96 in 2003
as determined by State Law. Commercial Property and non-residential Personal Property has been assessed at 29% of
actual value throughout the ten-year time frame.
140
Oil & Gas
1,736,735,240
1,749,1 19,710
1,709,997,160
2,868,304,890
1,673,838,130
2,439,298,540
3,382,053,530
3,900,510,227
5,738,450,910
7,669,479,580
State
Assessed
386,413,500
412,859,500
487,797,900
538,504,800
593,020,000
615,803,700
650,106,300
707,171,100
738,109,300
773,068,200
Total Taxable
Assessed Value
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
7,1 18,834,517
9,130,081,870
11,583,103,260
Estimated
Actual
Taxable Value
21,01 1,080,893
22,698,462,039
23,564,608,165
24,007,360,964
23,154,987,218
22,248,958,038
25,455,503,949
33,821,697,185
29,739,252,147
36,760,335,781
Total Direct
Tax Rate
17.900
16.804
16.804
16.804
16.804
16.804
16.804
16.804
15.800
15.800
Assessed
Value as a
Percentage of
Actual Value
20.008 %
19.686 %
19.376 %
24.038 %
20.303 %
24.369 %
25.588 %
21.048 %
30.700 %
31.510 %
COUNTY OF WELD
STATE OF COLORADO
Property Tax Rates Direct and Overlapping Governments
Last Ten Years
General
Levy Year Government
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
12.321
11.487
11.736
11.842
11.389
10.479
10.476
l l .788
12.797
9.881
Total Direct
Road & Bridge Public Welfare Contingent Capital Insurance County
1.847
1.668
1.647
1.613
1.498
1.303
1.303
1.639
1.839
1.444
1.551
1.333
1.293
1.266
1.965
1.863
1.864
1.203
0.941
0.843
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
2.013 1.444
0.277
0.298
0.336
0.329
0.322
0.326
0.326
0.285
0.223
0.175
Overlapping Rates
Levy
Year
Direct City of School Aims Weld
County Greeley District 6 College Library
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 6.320 3.261
2014 15.800 11.274 37.880 6.330 3.267
2015 15.800 11.274 36.003 6.325 3.308
The basis for the property tax rates is per $1,000 assessed valuation
Source: Office of the Weld County Assessor.
17.900
16.804
16.804
16.804
16.804
16.804
16.804
16.804
15.g00
15.g00
142
COUNTY OF WELD
STATE OF COLORADO
Principle Property Tax Payers
Current Year and Nine Years Ago
2015
S
Kerr-McGee Oil & Gas Onshore LP
Noble Energy Inc
Encana Oil & Gas On Shore LP
Bonanza Creek Energy Inc
PDC Energy Inc
Public Service Company of CO (Xcel)
DCP Midstream LP
Extraction Oil & Gas LLP
Bill Barrett Corporation
Whiting Oil & Gas
Kerr-McGee Rocky Mountain Corp
Petroleum Development Corp (PDC)
Rocky Mountain Energy Center
Petro -Canada Resources (USA) Inc
Merit Energy
Duke Energy Field Services
Eastman Kodak Company
Taxable
Assessed
Value
2,742,921,420
2,115,829,960
639,256,280
432,940,970
432,068,270
236,338,400
202,790,600
186,796,3 00
164,266,450
162,453,010
S 7,315,661,660
Source:
Weld County Assessor
Percentage
of Total County
Taxable
Assessed
Rank Value
1
2
3
4
5
6
7
8
9
10
30.04 91)
23.17 %
7.00 %
4.74 %
4.73 %
2.59 %
2.22 °:%
2.05
1.80%
1.80%
0/
80.14 %
2006
S
'Taxable
Assessed
Value
Rank
545,469,930 2
168,944,360 3
96,337,200 4
398,688,580 5
563,270,950 1
105,223,960 4
84,814,300 6
74,504,610 7
66,341,460 8
42,713,610 9
40,964,880 10
S 2,187,273,840
Percentage
of Total County
Taxable
Assessed
Value
12.98 %
4.02
2.84 %
2.29 %
13.40 %
2.50 %
2.02
1.77%
1.58 %
1.02 %
0.97 %
45.39 310
143
COUNTY OF WELD
STATE OF COLORADO
Principle Property Tax Payers
Current Year and Nine Years Ago
Levy
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Collect
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Taxes Levied
for the
Fiscal Year (1)
64,714,321
70,643,162
75,088,043
76,724,097
96,972,420
78,999,116
91,108,983
109,452,573
119,624,895
144,255,294
Collected
Fiscal Year
Tax
Amount (2)
64,580,198
70,575,408
74,877,199
75,903,359
96,736,465
78,833,201
90,504,925
109,154,195
119,187,009
143,469,905
within the
of the Levy
Percentage
of Levy
99.793 %
99.904 %
99.719 %
98.930 %
99.757 %
99.790 %
99.337 %
99.727 %
99.634 %
99.456 %
Collections
in Subsequent
Years (3
58,771
327,197
167,841
160,585
289,346
181,254
270
802,028
25,495
Total Collections to Date
Tax
Years (3
64,638,969
70,902,605
75,045,040
76,063,303
97,025,811
79,014,455
90,505,195
109,956,223
119,212,504
143,469,905
Percentage
Years (3
99.884 %
100.367 %
99.943 %
99.139 %
100.055 %
100.019 %
99.337 %
100.460 %
99.655 %
99.456 %
Source:
1) Office of the Weld County Assessor
2) YTD Treasurer's Tax Distribution for tax years 2004-2010. Values from 2011 forward taken from the Treasurer's Authority
Receivable Report
3) YTD Treasurer's Tax Distribution for tax years 2004-2010. Values from 2011 forward taken from the Treasurer's Authority
Receivable Report.
144
COUNTY OF WELD
STATE OF COLORADO
Direct and Overlapping Debt Governmental Activities Debt
December 31, 2015
Jurisdiction
Cities & Towns
Schools
Special Districts
Total Overlapping
Net General
Obligation
Bonded Debt
Outstanding
165,340,374
781,953,845
79,764,612
$ 1,027,058,831
Source: Debt outstanding provided by each governmental unit.
Note:
Percentage
Applicable to
Government (1)
74.79%
56.04%
81.77%
Amount
Applicable to
Government (2)
123,656,663
43 8,174,299
65,227,023
$ 627,057,985
(1) Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the county. This
schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by residents and
businesses of Weld County. This process recognizes that, when considering the county's ability to issue and repay long-term
debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply
that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government_
(2) Overlapping debt applicable to the County is figured by prorating each local jurisdictions debt by the percentage of the
jurisdictions inside and outside the county.
145
COUNTY OF WELD
STATE OF COLORADO
Legal Debt Margin Infonination
Last Ten Years
Legal Debt Margin Calculation for Fiscal Year 2015
Assessed Value, 2015 $ 11,583,103,260
Debt Limit 3 percent of Assesed Value 347,493,098
Total Bond Debt
Installment Purchase Agreements
$0
0
Total Amount of debt applicable to limit 0
Legal Debt Margin $ 347,493,098
Legal Debt Margin Information
Last Ten Fiscal Years
Debt limit
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to the limit
as a percentage of debt limit
Note:
2006
2008 2009
126,118,475 134,053,874 136,974,703 173,123,816
$ 126,118,475 $ 134,053,874 $ 136,974,703 $ 173,123,816
0.00 % 0.00 %
0.00 % 0.00 %
Debt Limitation: Under Section 30-35-201, Colorado Revised Statutes, 1973, the County may incur indebtedness for general
County purposes in an amount not to exceed 3% of assess valuation of all taxable property.
146
2010 2011
141,036,269 162,655,885
2012
195,404,498
2013
2014 2015
213,565,036 273,902,456
347,493,098
$ 141,036,269 $ 162,655,885 $ 195,404,498 $ 213,565,036 $ 273,902,456 $ 347,493,098
0.00 %
0.00 %
0.00 %
0.00 %
0.00 % 0.00 %
COUNTY OF WELD
STATE OF COLORADO
Private Purpose Revenue Bonds
December 31, 2015
INDUSTRIAL REVENUE BONDS:
ISSUER
GSSLB Association
Nursing Home
DEBT REVENUE BOND
TYPE. OF ISSUE OUTSTANDING OUTSTANDING
FACILITY AMOUNT DATE BEGINNING OF YEAR ISSUED RETIRED END OF YEAR
Nursing Home S 2,020,000 10/98
North Range Behavioral Health Office S 4,500,000 5/07
$850,000 0 570,000 $780,000
S2,607,620 0 162 360 S2,445,260
TOTAL PRIVATE PURPOSE
REVENUE BONDS S3,457,620 $0 $232,360 S3,225,260
148
COUNTY OF WELD
STATE OF COLORADO
Demographic and Economic Statistics
Last Ten Years
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Population
229,377
236,908
244,515
251,220
252,825
254,759
263,691
263,691
269,785
274,487
Total
Personal Income Per
($ billion) Capita Income
5.84
6.23
6.66
7.38
7.07
6.93
7.76
8.35
8.35
10.74
25,495
26,280
27,238
27,788
28,503
27,186
25,233
29,986
31,657
27,047
Unemployment
Rate
3.80 %
4.63 %
6.30 %
8.16 %
9.80 %
9.10 %
8.70 %
6.70 %
3.90 %
3.80 %
Source: Upstate Colorado in cooperation with University of Northern Colorado and the State of Colorado demographer.
COUNTY OF WELD
STATE OF COLORADO
Principal Employers
Current Year and Nine Years Ago
JBS Swift Beef Company
Banner Health (NCMC)
Vestas
School District 6
State Farm Insurance Companies
State of Colorado (includes UNC)
Weld County Government
Halliburton Energy Services Inc
City of Greeley
Tele Tech
Eastman Kodak Company
Star Tek Inc
Wal-Mart
Total Principal Employers
Other Employers
Total County Employment
Source: Upstate Colorado
2015
Employees
Percentage
of Total County
Rank Employment
4,523 1
3,069 2
1,980 3
1,923 4
1,720 5
1,442 6
1,405 7
1,110 8
857 9
700 10
18,729
129,255
147,984
3.07 %
2.07 %
1.34 %
1.30 %
1.16 %
0.97 %
0.95 %
0.75 %
0.58 %
0.47 %
2006
Percentage
of Total County
Employees Rank Employment
2,300 2
2,700 1
2,052 4
1,445 6
2,066 3
1,400 7
942 8
1,650 5
906 9
856 10
12.66% 16,317
87.34 % 86,395
100.00% 102,712
2.24 %
2.63 %
- %
2.00 %
1.41 %
2.01 %
1.36
- %
0.92 %
- %
1.61 %
0.88 %
0.83 %
15.89 %
84.11 %
100.00 %
150
t t
S
151
COUNTY OF WELD
STATE OF COLORADO
Full -Time Equivalent County Government Employees by Function/Program
Last Ten Years
2006 2007 2008 2009 2010 2011
Function/Program
General government (6)
Public safety (1) (5)
Public works
Health and welfare (2)
Culture and recreation
Economic assistance (3)
Total General Government
Business -type activities:
Paramedic Service (4)
Total primary government
256 258 269 247 244 251
279 308 352 365 345 351
167 167 165 163 161 161
305 337 357 372 378 368
1 1 1 1 2 2
166 173 148 144 78 73
1,174 1,244 1,292 1,292 1,20g 1,206
63 67 74 72 69 69
1,237 1,311 1,366 1,364 1,277 1,275
Source: Weld County Human Resources
Notes:
(1) A traffic unit was added in 2001 funded by the CDOT Office of Highway Safety Grant and initially
requiring 5 positions The North Jail Complex was built in 1997 with 160 beds and a staffing level of 75.
Phase II added 226 beds in 2004 and increased projected 2005 staffing to 132. Phase III construction in
2006-07 added 374 beds and increased staffing of 42 in 2007. Twelve additional management and
support positions were added in 2008. The deferred opening of 122 secure confinement beds contained
prevented further hiring.
(2) The demand for welfare and public health care has increased more rapidly with the economic
downturn.
(3) As of 12/31/2009 Headstart responsibilities were relinquished back to the Federal Agency for
operational purposes.
(4) As of 05/07/2012 Paramedic Services was transferred by Weld County to Northern Colorado Medical
Center Inc.
(5) In 2013 the Communications Department brought on employees to operate the Call Center for Weld County
(6) In 2014 the Weld County Commissioners decided to no longer outsource the Information Technology Department.
Therefore, employees were added for this department
152
2012 2013 2014 2015
239 243 290 287
357 432 436 471
164 179 176 183
380 374 383 403
2 2 2 3
79 89 86 89
1,221 1,319 1,373 1,436
1,221 1,319
1,373 1,436
153
COUNTY OF WELD
STATE OF COLORADO
Operating Indicators by Function/Program
Last Ten Years
2006 2007 2008 2009 2010
Function/Pragram
General government:
Motor vehicle registration
Registered voters (1)
Number of votes cast (2)
Percent of registered voters voting
Public safety:
Adult arrests
Juvenile arrests
Average secure jail population
E911 Calls
Building Permits
Valuation (thousands)
Public works:
Miles of road graveled
Snow removal lane miles
Grading lane miles
Miles of Upgrade -Aggregate Surfaced Roads
Culverts (new and repaired) 15" and larger
Tons of asphalt laid
Tons of gravel crushed
Health and welfare:
Social Services Caseload
Patient contacts
Immunizations
Culture and recreation:
Visitors -Missile Park
County Fair Exhibitors
Economic assistance: (3)
I-leadstart clients
Migrant Headstart clients
I3usiness-type activities:
Paramedic Services
Patients transported (4)
466,777 484,412 493,544 478,202 482,841
100,924 88,601 116,269 112,276 145,692
68,871 30,203 106,518 34,027 80,893
68.2 34.1 91.6 30.3 55.5
1,574 1,606 1,122 1,059 1,084
215 224 110 98 96
579 628 610 538 570
92,045 95,524 99,951 95,383 95,866
1,972 2,000 2,571 1,976 2,143
399,473 100,609 120,118 86,794 392,380
160 359 312 205 416
125,225 222,703 94,685 176,786 77,889
164,906 135,779 148,324 152,568 154,602
10 34 52 33 36
242 250 252 233 264
70,421 67,389 67,548 90,664 101,431
408,409 411,582 231,359 282,315 372,709
14,500 15,000 15,500 16,000 20,500
30,440 11,880 11,500 15,000 11,769
6,360 7,165 7,000 7,000 8,159
586 595 600 600 500
2,422 2,326 2,335 2,425 2,383
562 562 562 562
266 266 275 180
8,375 8,210 8,866 9,214 9,214
Source: Various Weld County Department Records
Notes:
(1) Beginning in 1999 the number of registered voters reflects active voters_
(2) Even years represent general elections, odd years coordinated elections_
(3) As of 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_
2011 2012 2013 2014 2015
541,678 537,483 573,537 602336 636,302
101,085 162,517 134,936 167,306 162,239
42,937 117,121 66,368 92,525 49,683
42.5 72.1 49.2 55.3 30.6
1,795 1,535 970 726 739
73 105 44 37 45
557 573 575 577 604
93.900 100,230 101.000 105.726 114.548
2,316 2,327 2,4.51 2,674 2,318
126,194 322,183 365,074 782,793 461,167
419 482 402 145 328
89,503 57,474 65,342 75,302 86,064
133,297 1.57,634 144,036 194,527 167,239
41 16 91 87 90
254 222 224 170 137
86,805 125,668 106,155 147,496 134,936
436,880 270,441 238,395 247,935 219,470
23,017 25,500 30,000 31,400 62,000
8,778 12,727 15,084 24,619 43,518
7,333 4,873 6,333 5,674 5,459
650 600 625 5.50 600
2,436 2,489 2,468 1,837 1,568
9,470
COUNTY OF WELD
STATE OF COLORADO
Capital Asset Statistics by Function/Program
Last Ten Years
2006 2007 2008 2009 2010
Function/Program
General government:
Building Square Footage 719,723 725,723 854,081 860,399 984,052
Court rooms 16 16 17 22 22
Information Systems Connections 1,292 1,292 1,320 1,320 1,320
Public safety:
Jail capacity (beds)
Patrol cars
Radios and cell phones
Public works:
Miles of Roads
Paved
Unpaved
Un-maintained
Grader sheds
Motor graders
386 386 760 760 760
55 55 55 62 60
1,229 1,270 1,359 1,179 1,220
675 670 684 674 689
2,387 2,370 2,352 2,331 2,307
327 492 490 493 351
18 18 18 18 18
30 30 30 30 30
Health and welfare:
Alternative fuel vehicles 4 4 4
Economic assistance:
Headstart sites 11
Business -type activities:
Paramedic Services
Ambulances (1)
11 11
Source: Weld County Department records and Fixed Asset Inventory
5 5
11 12
("1) As of 05/07/2012 Paramedic Services was transferred by Weld County to Northern Colorado Medical Center Inc.
2011 2012 2013 2014 2015
984,052 984,052 1,003,846 1,003,846 1,383,120
21 21 22 22 22
1,320 1,320 2,537 2,798 2,502
779 779 779 779 779
60 62 61 64 65
1,064 1,035 1,055 1,165 1,393
696 717 726 738 737
2,289 2,262 2,241 2,224 2,217
354 355 357 356 356
18 18 18 18 20
30 32 34 35 36
5 7 6 6 6
12
COUNTY OF WELD
STATE OF COLORADO
Insurance in Force
December 31, 2015
Name of Company
Safety National
Casulty Company
Colorado Counties
Casulty and
Property Pool
Policy Policy Period,
Number Begins Expires Details of Coverage
SP 4049871 12/31/14 12/31/15 Excess Worker's
Compensation
(CAN'
Reference)
Lexington & Hiseox 20412751
with CAPP
One Beacon! 791 -00 -03 -55 -
Atlantic Specailty 0004
with CAPP
1/1/2015 1/1/2016
Liability Limits
Employer's Liability $1,000,000/Accident Worker's
Compensation Statutory Limits with County retaining
first S750,000 per claim
Property:$150,000/5500 Deducti hie
Property Damage, Liability: $250,000
Liability, Crime, Boiler Crime: S125,0004500 deductible
and Machinery, Network Bioler and Machinery: $5,000/$500 deductible
Network Security:S10,000
01/01/15 01/01/16 Property damage, Property: $100,000,000 Crime; 5100,000 Excess
Automobile, Equipment Liability: $100,000 per claim/$150,000 CA PP
breakdown deductible
1/1/2015 1/1/2016
Premises and S 1000,000,000 liability coverage per occurence
Operations, County retaining firts $250,000 each claim
Products/Completed
operati on s I .aw
enforcement Liability
Employe Benefit
Liability Public Officials
Errors and Omissions
IIisox with CAPP UC2119116.15 1/1/2015 1/1/2016 Crime(employee
dishonesty, robbery,
forgery)
Illinois union
Insurance with
CAPP
Markel american
Insurance
Scottsdale
Indemnity
CG25660328002 1/1/2015 1/1/2016 Network Sccutity°
Liability
AGL00 1136000 6/6/2014 6/16/2015
Weld County Retirement
Plan Fiduciary Liability
F,K 13162291 8/1/2015 8/1/2016 Directors & Officers
Liability - Non-profit
$1,000,000
$1,000,000 per claim
Each Claim & Aggregat: $1,000,000
$1,000,000
Annual
Premium
124,971
492,771
S 23,000
S10,136
S 2,675
158
Single
Audit
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Program Description
Department Of Housing and Urban Development
Passed Through the State Of Colorado Department Of Local Affairs:
Community Services Block Grant
Department Of Agriculture
Passed Through the State Of Colorado Department Of Human Services:
State Admin Matching Grant for Supplemental Nutrition Assistance Programs
Department Of Justice
Congressionally Selected
Drug Task Force Equitable Shares Funds
Passed Through the State of Colorado Division Of Criminal Justice:
Violence Against Women Formula Grants
Total Department Of Justice
Department Of Labor Employment Training Administration
Passed Through the State Of Colorado Department Of Labor and Employment:
Employment Service Cluster
Employment Services/Wagner-Peyser Funded Activities
Disabled Veterans Out Reach Program (DVOP)
Total Employemnt Service Cluster
TAA Case Management
WIA Cluster
WIA Adult Program
WIA Youth Activities
WIA ADMIN Disaster NEG
Total WIA Cluster
WIA ADMIN Adult H1 B
WIA Dislocated Worker Formula Grant
Total Department Of Labor Training Administration
Department Of Transportation
Passed Through the State Of Colorado Department Of Transportation:
Road Contracts
Congestion Mitigation and Air Quality
Flood Relief
Safe Traffic Studies
Total Department Of Transportation
Environmental Protection Agency
Passed Through the State Of Colorado Department Of Health:
Surveys, Studies, Investigations and Special Purpose Grants
Radon Out Reach
Total Environmental Protection Agency
Department Of Health And Human Services
Passed Through the State Of Colorado Department Of Local Affairs:
Community Services Block Grant
Passed Through the State Of Colorado Department Of Health:
Public Health Emergency Preparedness
Tuberculosis Control Programs
Family Planning Services
Immunizations Cluster
Immunizations Cooperative Agreements
Promoting Safe and Stable Families
Lead Surveilance
Preventative Health Services
Preventative Health and Health Services Block Grant
Maternal and Child Health Services Block Grant
FEDERAL Federal
CFDA # Expenditure
14.228 43,460
10.561 2.015,701
16.753
140,877
34,096
16.588 55,964
17.207
17.801
17.245
17.258
17.259
17.277
17.268
17.278
20.205
20.205
20.205
230,937
908,228
7,750
915,978
35,365
789,195
767,809
14,524
1,571,528
38,905
430,671
2.992,447
2,213,335
266,908
342,435
25,005
2.847,683
66.034 26,007
66.605 4,068
30,075
93.569 359,141
93.692
93.116
93.217
93.268
93.556
93.753
93.977
93.991
93.994
228,098
10,683
108,551
86,908
1,600
946
5,985
25,000
178,034
159
WELD COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2015
Program Description
Non -Community Ground Water
Womens Wellness
Air Quality
FDA Tabacco
Total Passed Through the State Of Colorado Department Of Health:
Passed Through the State Of Colorado Department Of Human Services :
OAA -Elder abuse
OAA-Ombudsman Supp
OAA-D in Home Support
Aging Cluster
OAA-B Admin/Supportive Services
OAA-C-1-Congrate Meals
Nutrition Services Incentive Programs
Total Aging Cluster
OAA-E National Caregiver
TANF Cluster
Temporary Assistance for Needy Families
Child Support Enforcement
Low -Income Home Energy Assistance
CCDF Cluster
Child Care and Development Block Grant
Child Care and Development Fund
Total CCDF Cluster
Guarian Assistance
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
Childrens Health Insurance Program
Total Passed Through the State Of Colorado Dept of Health Care Policy and Finance:
FEDERAL Federal
CFDA # Expenditure
93.XXX 910
93.XXX 50,583
93.XXX 15,620
93.XXX 164,511
877,429
93.041 2,228
93.042 9,367
93.043 10,237
93.044 252,751
93.045 427,541
93.053 56,776
737,068
93.052 80,091
93.558 5,165,773
93.563 2,134,549
93.568 1,546,036
93.575 344,838
93.596 2,185,683
2,530,521
93.090 39,743
93.645 164,763
93.658 3,939,477
93.659 673,857
93.667 463,508
93.674 96,612
93.778 2,340,244
93.XXX 9,787
93.XXX (63,793)
7,664,198
93.778 957,312
93.767 17,861
975,173
Total Department of Health and Human Services 22,091,811
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
Hazard Mitigation
Total Passed Through the State Of Colorado Dept of Health Care Policy and Finance:
Passed Through the State Of Colorado Department Of Public Safety
Disaster Grant & Public Assistance (Presidentially Declared Disaster)
94.006 40,794
97.042 76,000
80,636
156,636
97.036 895,730
Total Department of Homeland Security 1,052,366
31,345,274
160
COUNTY OF WELD
STATE OF COLORADO
Year End December 31, 2015
Notes to the Schedule of Federal Expenditures
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,
2015.
Note 2 — Sub -Recipient
Weld County, Colorado does not have any significant sub -recipients.
Note 3 - Indirect Costs
Weld County's federal programs generally do not untilize the 10% deminimus cost rate,
ANdERSON
� WhITNEy
■
A Professional Corporation of
Certified Public Accountants
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
We have audited in accordance with auditing standards generally accepted in the United
States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States, the 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
and the related notes to the financial statements, which collectively comprise Weld County,
Colorado's basic financial statements as of and for the year ended December 31, 2015, and have
issued our report thereon dated June 29, 2016. 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
auditor's 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 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 County'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.
5801 West 11th Street . Suite 300 (970) 352-7990
Greeley, Colorado 80634-4813 www.awhitney.com
162
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Board of County Commissioners
Weld County, Colorado
Page 2
Our consideration of internal control was for the limited purpose described in the first
paragraph of this section and would not necessarily identify all deficiencies in internal control
that might be significant deficiencies or material weaknesses. Given these limitations, during our
audit we did not identify any deficiencies in internal control over financial reporting that we
consider to be material weaknesses. However, material weaknesses may exist that have not been
identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Weld County's financial
statements are free of material misstatement, we performed tests of its compliance with certain
provisions of laws, regulations, contracts, and 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.
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 entity'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 entity's
internal control and compliance. Accordingly, this communication is not suitable for any other
purpose.
June 29, 2016
163
ANdERSON
EiWyhniTNEy
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A Professional Corporation of
Certified Public Accountants
Report on Compliance for Each Major Federal Program and
Report on Internal Control Over Compliance Required by the Uniform Guidance
Board of County Commissioners
Weld. County, Colorado
Report on Compliance for Each Major Federal Program
We have audited the compliance of Weld County, Colorado with the types of compliance
requirements described in the OMB Compliance Supplement that could have a direct and
material effect on each of its major federal programs for the year ended December 31, 2015.
Weld County's major federal programs are identified in the summary of auditors' results section
of the accompanying schedule of findings and questioned costs.
The County's basic financial statements include the operations of the Weld County
Housing Authority, a component unit, who received $3,485,567 in Federal awards which is not
included in the County's schedule during the year ended December 31, 2015. Our audit, as
described below, did not include the operations of the Weld County Housing 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 Weld 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; the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States; and the
audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Those standards and the Uniform Guidance 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.
5801 West 11th Street • Suite 300 (970) 352-7990
Greeley, Colorado 80634-4813 www.awhitney.com
164
Board of County Commissioners
Weld County, Colorado
Page 2
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 Weld
County's compliance.
Opinion on Each Major Federal Program
In our opinion, Weld County complied, in all material respects, with the requirements
referred to above that are applicable to each of its major federal programs for the year ended.
December 31, 2015.
Internal Control Over Compliance
Management of Weld 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 Weld County's internal control
over compliance with the types of requirements that could have a direct and material effect on
each major federal program in order 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, 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 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 deficiencies, significant deficiencies, or material
weaknesses. We did not identify any deficiencies in internal control over compliance that we
consider to be material weaknesses.
165
Board of County Commissioners
Weld County, Colorado
Page 3
Other Matter
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 the Uniform Guidance. Accordingly, this report is not suitable for any other
purpose.
June 29, 2016
166
WELD COUNTY, COLORADO
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
Year Ended December 31, 2015
SUMMARY OF INDEPENDENT AUDITORS' RESULTS
Type of report issued on financial
statements
Internal control over financial reporting:
Material weaknesses identified No
Significant deficiencies identified None reported
v Noncompliance material to the financial
statements noted
✓ Internal control over federal awards:
Material weaknesses identified
Significant deficiencies identified
Type of report issued on major programs
Audit findings disclosed
Major programs
y
Unmodified
No
No
None reported
Unmodified
None under 2 CFR 200.516(a).
93.563 Child Support Enforcement
17.258 WIA
17.259
17.278
17.207 Employment Cluster
17.801
20.205 Highway Construction
• Dollar threshold between Type A and Type
B programs $940,358
✓ Low -risk auditee Yes
FINDINGS RELATED TO FINANCIAL STATEMENTS
None Reported
FINDINGS AND QUESTIONED COSTS RELATED TO FEDERAL AWARDS
• None Reported
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS
Year Ended December 31, 2015
vy Finding 2013-004:
CFDA 10.561 — State Administrative Matching Grants for SNAP — Special Tests
Pass -Through Agency: State of Colorado
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.
Condition: Of the 25 case files selected for testing, we noted one file did not contain the
required verification of the applicant's income.
Questioned Costs: None
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.
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.
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.
Management's Response: Agree
Corrective Action:
Contact Person: Lennie Bottorff, Fiscal Manager; John Kruse, Administrator
Status: Implemented
168
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS
Year Ended December 31, 2015
i> Finding 2014-001:
CFDA 93.558, .714, .716 — TANF Cluster — Special Tests and Provision
Pass -Through Agency: Colorado Department of Human Services
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 income
Eligibility and Verification System (IEVS) discrepancy report. Under certain
circumstances, action may be delayed beyond 45 days for no more than 20% off the
information items targeted for follow-up.
Condition: Of the 40 participants selected for testing, we were unable to perform the
testing per the compliance requirements for IEVS discrepancy reports on all selections.
Questioned Costs: None.
Effect: If the County cannot provide the IEVS discrepancy reports, we cannot verify if
the existing controls are effective or if they are even in place. If the control is ineffective
or does not exist, the County may pay or over compensate a participant who should not
be receiving benefits.
Cause: The County was unable to provide us with the IEVS discrepancy reports for all
selections.
Recommendation: We recommend that the County ensures IEVS discrepancy reports
are reviewed and have clearedwithin the required 45 days. In addition, we recommend
that any current outstanding IEVS discrepancies outstanding in excess of 45 days be
cleared immediately.
Management's Response: Agree
Corrective Action:
Contact Person: Lennie Bottorff, Fiscal Manager; John Kruse, Administrator
Status: Implemented
169
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS
Year Ended December 31, 2015
i> Finding 2014-002:
CFDA 93.558 - Temporary Assistance for Needy Families (TANF)- Special Tests
Pass -Through Agency: State of Colorado
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 the County a list of all files needing a
Tier 11 review monthly.
Condition: During the year ending December 31, 2014, we noted that Tier H case
reviews performed by the County did not align with the sample provided by the State as
required by the Colorado Work Verification Plan.
Questioned Costs: None
Effect: By not reviewing the files requested by the State of Colorado at the Tier II level,
the County is out of compliance of the Work Verification Plan. The penalty for failure to
comply with the Work Verification Plan may be not less than one percent and not more
than five percent of the awarded amount (42 USC 601, 602, 607 and 609).
Cause: The County was completing a case review of files provided through the
COGNOS system; however, this review did not comply with Tier 11 requirements
outlined in the Colorado Work Verification Plan.
Recommendation: We recommend that the County access the CBMS COGNOS and
complete all Tier II file reviews requested by the State of Colorado.
Management's Response: Agree
Corrective Action:
Contact Person: Lennie Bottorff, Fiscal Manager; John Kruse, Administrator
Status: implemented
170
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS
Year Ended December 31, 2015
i> Finding 2014-003:
CFDA 93.568 — Low Income Housing Energy Assistance — Allowable Costs and
Eligibility
Pass -Through Agency: Colorado Department of Human Services
Criteria: The A-102 Common Rule and OMB Circular A-110 (2 CFR part 215) require
that non -Federal entities receiving Federal awards (i.e. auditee management) establish
and. maintain internal control designed to reasonably ensure compliance with Federal
laws, regulations and program compliance requirements. While outsourcing the
management of the program is not a problem, since the County is still ultimately
responsible for the Federal funds, they still need to perform checks to determine whether
procedures are being followed as intended.
Condition: The County contracted with Discovery Goodwill to manage the LEAP
program, this included eligibility determination as well as entering the applicable
information into CFMS for payment. However, the County did not perform any
independent checks on Discover Goodwill, during the period under audit, to verify that
Discovery Goodwill was properly determining eligibility and program payments were
correct.
Questioned Costs: None
Effect: Without performing independent checks, the County is unable to verify that
eligibility is correctly determined and program payments are proper.
Cause: The County outsources the management of the program; however, the County
failed to implement controls to appropriately oversee the activities of the service
organization.
Recommendation: We recommend that the County develop controls to review the
services performed by the service organization are consistent with the program
requirements.
Management's Response: Agree
Corrective Action:
Contact Person: Lennie Bottorff, Fiscal Manager; John Kruse, Administrator
Status: Implemented
171
WELD COUNTY, COLORADO
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS
Year Ended December 31, 2015
i> Finding 2014-004:
CFDA 14.218 — Community Development Block Grant - Reporting
Pass -Through Agency: Colorado Department of Human Services
Criteria: Per 75 FR 64337, Section O, Reporting, the County must submit quarterly
performance reports. All information reported on the report should be complete and
accurate.
Condition: While gaining an understanding of the process in place surrounding the
review and preparation of the required quarterly reports, we noted that the reports are
prepared by the Housing Authority Executive Director and they are not reviewed prior to
being submitted to HUD. Additionally, through testing of the required reports, we noted
that the balances per the report did not agree to Banner general ledger balances.
Questioned Costs: None
Effect: The submission of incorrect information to HUD could impact the amount of
funding received in the future.
Cause: The department size and the volume of work hinder the availability of a staff
member to perform an independent review of HUD reports prior to submission.
Recommendation: We recommend that the County create a review process to ensure
that reports are reviewed and compared to the general ledger prior to submission to HUD.
Management's Response: Agree
Corrective Action:
Contact Person: Barb Connolly, Controller
Status: Implemented
172
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