HomeMy WebLinkAboutComprehensive Annual Financial Report (CAFR)-Audit Records-9/30/2007
CITY OF
COLLEYVILLE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2007
Prepared by
Finance Department
Terry Leake
Finance Director
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
YEAR ENDED SEPTEMBER 30, 2007
Page
Number
INTRODUCTORY SECTION
Letter of Transmittal........................................................................................................... 3 – 6
Organizational Chart........................................................................................................... 7
Certificate of Achievement................................................................................................. 8
Principal Officials............................................................................................................... 9
FINANCIAL SECTION
Independent Auditors’ Report............................................................................................. 13 – 14
Management’s Discussion and Analysis............................................................................ 17 – 25
Basic Financial Statements
Statement of Net Assets................................................................................................... 28 – 29
Statement of Activities..................................................................................................... 30 – 31
Balance Sheet – Governmental Funds............................................................................. 32 – 33
Statement of Revenues, Expenditures and Changes in
Fund Balances – Governmental Funds......................................................................... 34 – 35
Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balance of Governmental Funds to the
Statement of Activities.................................................................................................. 36
Statement of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – General Fund................................................... 37
(continued)
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2007
Page
Number
FINANCIAL SECTION
(Continued)
Basic Financial Statements
(Continued)
Statement of Net Assets – Proprietary Funds.................................................................. 38
Statement of Revenues, Expenses and Changes in
Fund Net Assets – Proprietary Funds........................................................................... 39
Statement of Cash Flows – Proprietary Funds................................................................. 40 – 41
Statement of Fiduciary Net Assets – Fiduciary Funds..................................................... 42
Notes to Basic Financial Statements................................................................................ 43 – 68
Nonmajor Governmental Funds
Combining Balance Sheet................................................................................................ 72 – 76
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances............................................................................................ 78 – 82
Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – Debt Service Fund........................................... 83
Agency Funds
Combining Statement of Fiduciary Net Assets................................................................ 85
Combining Statement of Changes in Assets and Liabilities............................................ 86
(continued)
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2007
Page
STATISTICAL SECTION Exhibit/Table Number
(Unaudited)
Net Assets by Government..................................................................... 1 89
Changes in Net Assets............................................................................ 2 90 – 91
Fund Balances – Governmental Funds................................................... 3 93
Changes in Fund Balances – Governmental Funds................................ 4 94 – 95
Assessed Value and Estimated Actual Value
of Taxable Property.............................................................................. 5 96
Direct and Overlapping Property Tax Rates........................................... 6 97
Principal Property Taxpayers.................................................................. 7 98
Property Tax Levies and Collections...................................................... 8 99
Principal Water Customers..................................................................... 9 100
Ratios of Outstanding Debt by Type...................................................... 10 101
Ratios of General Bonded Debt Outstanding.......................................... 11 102
Direct and Overlapping Governmental Activities Debt.......................... 12 103
Legal Debt Margin Information.............................................................. 13 104
Pledged Revenue Coverage.................................................................... 14 105 – 106
Demographic and Economic Statistics................................................... 15 107
Principal Taxpayers................................................................................ 16 108
Fulltime Equivalent City Government Employees by
Function/Program................................................................................ 17 109
Operating Indicators by Function/Program............................................ 18 110
Capital Asset Statistics by Function/Program......................................... 19 111
INTRODUCTORY SECTION
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February 5, 2008
To the Citizens of the City of Colleyville:
The Comprehensive Annual Financial Report of the City of Colleyville (the "City") for the fiscal year ended
September 30, 2007, is hereby submitted. Responsibility for both the accuracy of the data, and
completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of
our knowledge and belief, the enclosed data are accurate in all material respects and are reported in a
manner designed to present fairly the financial position, results of operations and cash flows of the various
funds of the City. All disclosures necessary to enable the reader to gain an understanding of the City's
financial activities have been included.
In developing and evaluating the City's accounting system, consideration is given to the adequacy of internal
accounting controls. These controls are designed to provide reasonable, but not absolute, assurance
regarding the safeguarding of assets against loss from unauthorized use or disposition, and the reliability of
financial records for preparing financial statements and maintaining accountability for assets. The concept
of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be
derived, and the evaluation of costs and benefits requires estimates and judgments by management. We
believe that the City's current system of internal controls adequately safeguards assets and provides
reasonable assurance of proper recording of financial transactions.
As required by the City’s charter, the financial statements have been audited by Pattillo, Brown & Hill,
L.L.P., a firm of certified public accountants. The goal of the independent audit was to provide reasonable
assurances that the financial statements of the City of Colleyville for the fiscal year ended September 30,
2007, 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 rendering an
unqualified opinion that the City of Colleyville’s financial statements for fiscal year ended September 30,
2007, are presented in conformity with generally accepted accounting principles (GAAP).
Management’s discussion and analysis (MD&A) immediately follows the independent auditors’ report and
provides a narrative introduction, overview and analysis of the basic financial statements. This letter of
transmittal is designed to complement the MD&A and should be read in conjunction with it.
3
PROFILE OF THE GOVERNMENT
On January 10, 1956, the City of Colleyville was incorporated and adopted a home-rule charter on January
15, 1977. It has a Council-Manager form of government with policy making and legislative authority vested
in a governing body consisting of a Mayor and five Council members. The Mayor and Council are
responsible for passing ordinances, adopting the budget, appointing board and committee members, and
hiring the City Manager. The City Manager is responsible for carrying out the policies and ordinances of the
Mayor and Council, overseeing the day-to-day operations of the City, and appointing department heads.
The Mayor and six Council members are elected on an at-large, non-partisan basis for three-year terms. The
three-year terms are staggered so that the Mayor and City Council persons from Place 1 and 2 are elected in
year one, City Council persons from Places 3 and 4 are elected in year two, and City Council persons from
Places 5 and 6 are elected in year three.
The City provides a full range of municipal services. These services include police and fire protection,
municipal court, streets, drainage utility, leisure services (parks and recreation, Colleyville Center and library),
water and sewer, engineering/community development, and general administrative services. Based upon the
criterion set forth in generally accepted accounting principles, the following organizations are includable
within the City's reporting entity:
Entity Method of Inclusion
Colleyville Economic Development Corporation (CEDC) Blended
Colleyville Crime Control and Prevention District Blended
Colleyville Tax Investment Financing Reinvestment Zone
Zone Number One (TIF) Discretely Presented
The City Charter of the City of Colleyville establishes the fiscal year as October 1 through September 30.
The Charter requires the City Manager to submit a proposed budget and accompanying budget message to
the City Council each year and the proposed budget is presented to the City Council at a budget work
session. After public hearings at two consecutive regular City Council meetings, the Council may adopt the
proposed budget, with or without amendment. The budget ordinance is to be adopted no later than the 30th
day of September and requires an affirmative vote of a majority of the Council. The City maintains
budgetary control by adopting an annual operating budget for the General Fund, Debt Service Fund,
Drainage Utility Fund, and Water and Sewer Enterprise Fund. Detail control is maintained at the line item
level by encumbering available funds at the time a purchase order is written. Encumbrances lapse at fiscal
year-end, but can be re-appropriated through a budget amendment during the following fiscal year. The
City Manager is authorized to transfer budgeted amounts between departments within any fund. However,
any revisions that alter the total expenditures of any fund must be approved by the City Council.
LOCAL ECONOMY
The City of Colleyville is a residential-oriented community located 11 miles northeast of the City of Fort
Worth, 22 miles northwest of Dallas and 5 miles west of Dallas/Fort Worth International Airport in
Northeast Tarrant County. Relocations of residents to the City continued in fiscal year 2007, as did
commercial development. During the fiscal year, the City issued 140 residential building permits and the
average square footage of a residence was over five thousand square feet. Also, over 200,000square feet of
new commercial development was completed or in process during fiscal year 2007.
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For the Future.
Commercial development will continue in the Colleyville Town Center and in the western
corridor of the City. In the winter of 2008, construction will be completed on two fire stations funded in
.
part by General Obligation Bonds approved in 2005Also opening in the winter of 2008 is Phase I of the
McPherson Park complex. This phase will include hike and bike trails, pavilion and pond fishing pier,
picnic areas and playground. Phase II of the park will be completed in 2009 and will include water
conservation areas, garden demonstration areas, water harvesting and renovations to the existing Rock
House as a learning center.
LONG-TERM FINANCIAL PLANNING
In fiscal year 2005, the City Council adopted a Fund Balance Policy requiring a 90- day reserve for fund
balance in both the General Fund and the Utility Fund. At the end of fiscal year 2007, both the General
Fund and the Utility Fund have a fund balance in excess the required 90- day reserve. Amount in excess of
the reserve may be used to fund one-time capital expenditures.
As a part of the fiscal year 2008 budget process, the Mayor and Council and City Staff embarked upon
developing a multi-year capital improvements program. Long-term water storage and delivery needs in the
western area of Colleyville are being addressed with the construction of a ground storage tank and
transmission lines. Additionally, the Council appointed a citizen committee that reviewed street
infrastructure needs and financing opportunities. Their recommendations were incorporated into an
infrastructure program presented to Council in fiscal year 2008.
AWARDS AND ACKNOWLEDGEMENTS
Awards.
The Government Finance Officers Association of the United States and Canada (GFOA) awarded
a Certificate of Achievement for Excellence in Financial Reporting to the City of Colleyville for its
th
comprehensive annual financial report for the fiscal year ended September 30, 2006. This was the 17
consecutive year the City has received this prestigious award. In order to be awarded a Certificate of
Achievement, a government must publish an easily readable and efficiently organized comprehensive annual
financial report. This report must satisfy 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 GFOA to determine its eligibility for another certificate.
In addition, the City also received the GFOA’s Distinguished Budget Presentation award for its annual
budget dated October 1, 2006. In order to qualify for this award, the City’s budget document was judged to
be proficient in several categories, including as a policy document, a financial plan, an operations guide, and
a communications device.
5
Acknowledgements.
The preparation of this report could not be accomplished on a timely basis without the
dedicated endeavors of the entire staff of the Finance Department. I would like to express my sincere
appreciation to all employees who contributed to the preparation. Additionally, I would also like to thank
the Mayor, City Council, and City Manager for their support in planning and conducting the financial
operations of the City in a responsible and progressive manner.
6
CITY OF COLLEYVILLE
CITIZENS OF
ORGANIZATIONAL CHART
COLLEYVILLE
FISCAL YEAR 2007
CRIME
LIBRARY PLANNING ZONING CONTROL
BOARD
AND ZONING BOARD OF AND
COMMISSION ADJUSTMENTPREVENTION
DISTRICT
CITY
COLLEYVILLE
ECONOMIC
COUNCIL
DEVELOPMENT
CORPORATION
SIGN PARKS AND AD HOC TAX
COMMITTEES
BOARD OF RECREATION INCREMENT
APPEALSBOARD
FINANCING
DISTRICT
MUNICIPAL
CITY CITY
JUDGE
ATTORNEY
MANAGER
PATROL
POLICE CHIEF
ASSISTANT
INVESTIGATIONS
CITY
MANAGER
ANIMAL CONTROL
ECONOMIC
BUILDING
DEVELOPMENT
LIBRARY SERVICES &
DIRECTOR
DIRECTOR COMMUNITY
CENTER
MANAGER
STREETS & DRAINAGE PUBLIC
WORKS PUBLIC
FLEET MAINTENANCE
OPERATIONS WORKS
MANAGERDIRECTOR
UTILITY ADMIN. &
HUMAN
PARKS AND
OPERATION
RESOURCES
RECREATION
DIRECTOR
RESPONSE
FIRE CHIEF
INSPECTIONS/
BUDGET &
INVESTIGATIONS
ADMINISTRATIVE COMMUNICATIONS
MANAGER
SERVICES
MANAGER
UTILITY BILLING
FINANCE
MUNICIPAL COURT DIRECTOR
COMMUNITY
INFORMATION
DEVELOPMENT
SERVICES
DIRECTOR
CITY
BUILDING
SECRETARY
INSPECTION
CODE
ENFORCEMENT
7
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CITY OF COLLEYVILLE, TEXAS
HOME RULE, COUNCIL – MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 2007
David Kelly
Mayor
Carol Wollin
Councilmember, Place 1
Tony Licata
Councilmember, Place 2
Rich Hendler
Councilmember, Place 3
Jon Ayers
Mayor Pro Tem and
Councilmember, Place 4
Tom Hart
Councilmember, Place 5
Mike Taylor
Councilmember, Place 6
William Lindley
City Manager
Terry Leake
Finance Director
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FINANCIAL SECTION
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INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and
Members of the City Council
City of Colleyville, Texas
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, the aggregate discretely presented component unit, each major fund, and the
aggregate remaining fund information of City of Colleyville, Texas, as of and for the year ended
September 30, 2007, which collectively comprise the City’s basic financial statements as listed in the table
of contents. These financial statements are the responsibility of the City’s management. Our
responsibility is to express opinions on these basic financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the governmental activities, the business-type activities, the aggregate discretely
presented component unit, each major fund, and the aggregate remaining fund information of the City of
Colleyville, Texas, as of September 30, 2007, and the respective changes in financial position and, where
applicable, cash flows and the respective budgetary comparison for the General Fund, thereof for the year
then ended in conformity with accounting principles generally accepted in the United States of America.
13
401 WEST HIGHWAY 6 P. O. BOX 20725 WACO, TX 76702-0725 (254) 772-4901 FAX: (254) 772-4920 www.pbhcpa.com
AFFILIATE OFFICES: BROWNSVILLE, TX (956) 544-7778 HILLSBORO, TX (254) 582-2583
TEMPLE, TX (254) 791-3460 WHITNEY, TX (254) 694-4600 ALBUQUERQUE, NM (505) 266-5904
The management’s discussion and analysis on pages 17 through 25 is not a required part of the
basic financial statements but is supplementary information required by accounting principles generally
accepted in the United States of America. We have applied certain limited procedures, which consisted
principally of inquiries of management regarding the methods of measurement and presentation of the
required supplementary information. However, we did not audit the information and express no opinion
on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City of Colleyville, Texas’ basic financial statements. The introductory section,
combining and individual fund financial statements and schedules, and statistical tables are presented for
purposes of additional analysis and are not a required part of the basic financial statements. The
combining and individual nonmajor fund financial statements and schedules have been subjected to the
auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly
stated in all material respects in relation to the basic financial statements taken as a whole. The
introductory section and statistical section 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.
January 18, 2008
14
MANAGEMENT’S
DISCUSSION AND ANALYSIS
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16
MANAGEMENT’S DISCUSSION AND ANALYSIS
As management of the City of Colleyville, we offer readers of the City’s financial statement this narrative
overview and analysis of the financial activities of the City for the fiscal year ended September 30, 2007.
We encourage readers to consider the information presented here in conjunction with additional
information that we have furnished in our letter of transmittal, which can be found on pages 3 – 6 of this
report.
FINANCIAL HIGHLIGHTS
The assets of the City of Colleyville exceeded its liabilities as of September 30,
2007, by $142,356,811 (net assets). Of this amount, $35,614,052 (unrestricted net
assets) may be used to meet the City’s ongoing obligations to citizens and creditors
in accordance with the City’s fund designation and fiscal policies.
The City’s total net assets increased by $9,369,059.
As of the close of the current fiscal year, the City of Colleyville’s governmental
funds reported combined ending fund balances of $23,619,858. Of this amount,
$22,365,172 is unreserved fund balance available for use within the City’s fund
designation and fiscal policies.
As of September 30, 2007, unreserved, undesignated fund balance for the General
Fund was $8,495,329 or 52% of the total General Fund budgeted expenditures and
other financing uses.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City’s basic financial
statements. The City’s basic financial statements are comprised of three components: (1) government-
wide financial statements, (2) fund financial statements and (3) notes to the financial statements. This
report also contains other supplementary information in addition to the basic financial statements
themselves.
Government-wide financial statements –
The government-wide financial statements, which begin
on page 28 of this report, are designed to provide readers with a broad overview of the City’s finances,
in a manner similar to a private-sector business.
The Statement of Net Assets presents information on all of the City’s assets and liabilities, with the
difference between the two reported as net assets. Over time, increases or decreases in net assets may
serve as a useful indicator of whether the financial position of the City is improving or deteriorating.
17
The Statement of Activities presents information showing how the City’s net assets changed during
the fiscal year. All changes in net assets are reported when the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are
reported in this statement for some items that will only result in cash flows in the future fiscal periods
(e.g., uncollected taxes and earned but unused compensated absences).
Both of the government-wide financial statements distinguish functions of the City that are principally
supported by taxes and intergovernmental revenues (governmental activities) from functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-
type activities). The governmental activities of the City include General Government, Community
Development and Engineering, Fire and Rescue, Leisure Services, Maintenance, Municipal Court,
Police, and Streets and Drainage. The business-type activities of the City include Water and
Wastewater, and Drainage Utility.
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. The City, like other state
and local governments, uses fund accounting to ensure and demonstrate compliance with finance-
related legal requirements. All funds of the City can be divided into two categories – governmental
funds and proprietary funds.
Governmental Funds –
Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government-wide financial statements. However, unlike the
government-wide financial statements, governmental fund financial statements focus on current
sources and uses of spendable resources, as well as on balances of spendable resources available at the
end of the fiscal year. Such information may be useful in evaluating a government’s near-term
financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government-wide financial statements. By
doing so, readers may better understand the long-term impact of the government’s near-term financing
decisions. Both the governmental funds balance sheet and the governmental fund statements of
revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this
comparison between governmental funds and governmental activities.
Beginning on page 32 of this report, information is presented separately in the Governmental Fund
Balance Sheet and in the Governmental Fund Statement of Revenues, Expenditures, and Changes in
Fund Balances for the General Fund, which is considered to be a major fund. Data from the other
governmental funds are combined into a single, aggregated presentation. Individual fund data for
each of these non-major governmental funds is provided in the form of combining statements
elsewhere in this report.
Proprietary Funds –
The City maintains one type of proprietary funds. Enterprise Funds are used to
report the same functions presented as business-type activities in the government-wide financial
statements. The City uses Enterprise Funds to account for the Water and Wastewater and Drainage
Utility Funds.
18
Proprietary funds provide the same type of information as the government-wide financial statements,
only in more detail. The basic proprietary fund financial statements which begin on page 38 of this
report provide separate information for the Water and Wastewater and Drainage Utility Enterprise
Funds since these are considered to be major funds of the City.
Notes to the Financial Statements –
The notes provide additional information that is essential to a
full understanding of the data provided in the government-wide and fund financial statements. The
notes to the financial statements can be found on pages 43 – 68 of this report.
Other Information –
In addition to the basic financial statements and accompanying notes, this report
also presents combining fund statements and schedules that further support the information in the
financial statements. The combining fund statements and schedules for nonmajor funds are presented
immediately following the notes to the financial statements beginning on page 72 of this report.
GOVERNMENTAL-WIDEFINANCIAL ANALYSIS
As noted earlier, net assets may serve over time as a useful indicator of government’s financial
position. In the case of the City of Colleyville, assets exceeded liabilities by $142,356,811 as of
September 30, 2007.
The largest portion of the City’s net assets ($104,629,422) reflects its investments in capital assets
(e.g., land, building, equipment, improvements, construction in progress and infrastructure), less any
outstanding debt used to acquire those assets. The City uses these capital assets to provide service to
citizens; consequently, these assets are not available for future spending. Although the City’s
investment in its capital assets is reported net of related debt, it should be noted that the resources
needed to repay this debt must be provided from other sources, since the capital assets themselves
cannot be used to liquidate these liabilities.
CITY OF COLLEYVILLE’S NET ASSETS
Governmental ActivitiesBusiness-type ActivitiesTotals
200720062007200620072006
Current and other assets26,059,908$ 21,549,324$ 17,396,799$ 21,444,685$ 43,456,707$ 42,994,009$
92,768,124100,392,539 41,372,048 35,676,552 141,764,587 128,444,676
Capital assets
114,317,448126,452,447 58,768,847 57,121,237 185,221,294 171,438,685
Total assets
Other liabilities4,795,913 3,110,199 3,320,239 2,248,985 8,116,152 5,359,184
24,275,70926,811,451 7,936,880 8,816,040 34,748,331 33,091,749
Long-term liabilities
27,385,90831,607,364 11,257,119 11,065,025 42,864,483 38,450,933
Total liabilities
Net assets:
Invested in capital assets,
net of related debt71,824,719 66,991,146 32,804,703 25,919,619 104,629,422 92,910,765
Restricted1,032,586 937,578 1,080,751 882,821 2,113,337 1,820,399
19,002,81621,987,778 13,626,274 19,253,772 35,614,052 38,256,588
Unrestricted
$ 86,931,54094,845,083$ 47,511,728$ 46,056,212$ 142,356,811$ 132,987,752$
Total net assets
19
A portion of the City’s net assets ($2,117,337)represents resources that are subject to external
restriction on how they may be used. The remaining balance ($35,614,052) of unrestricted net assets
may be used to meet the City’s ongoing obligation to citizens and creditors in accordance with the
City’s fund designation and fiscal policies.
As of September 30, 2007, the City has positive balances in all three categories of net assets, both for
the City as a whole, as well as for its governmental and business-type activities separately.
Analysis of the City’s Operations
– The following table provides a summary of the City’s
operations for the year ended September 30, 2007. Governmental activities increased the City of
Colleyville’s net assets by $7,913,543, accounting for 85% of the total growth in net assets.
Business-type activities increased the City’s net assets by $1,455,516, accounting for 15% of the
total growth in net assets.
20
CITY OF COLLEYVILLE’S CHANGES IN NET ASSETS
Governmental ActivitiesBusiness-type ActivitiesTotals
200720062007200620072006
Revenues:
Proram revenues:
g
Charges for services3,557,299$ 4,215,128$ 9,969,443$ 13,187,868$ 13,526,742$ 17,402,996$
Operatinggrants
and contributions431,683 399,819 - - 431,683 399,819
Capital grants
and contributions5,372,281 4,355,357 1,561,255 1,100,354 6,933,536 5,455,711
General revenues:
Ad valorem taxes10,153,775 9,483,546 - - 10,153,775 9,483,546
Sales taxes4,674,068 4,355,627 - - 4,674,068 4,355,627
Franchise taxes1,779,376 1,790,543 - - 1,779,376 1,790,543
Other taxes89,132 76,005 - - 89,132 76,005
Investment earnings1,224,361 904,361 998,710 846,214 2,223,071 1,750,575
65,31397,963 - - 97,963 65,313
Miscellaneous
25,645,69927,379,938 12,529,408 15,134,436 39,909,346 40,780,135
Total revenues
Exenses:
p
General overnment2,438,051 2,729,064 - - 2,438,051 2,729,064
g
Community development
and enineerin 1,267,1361,523,768 - - 1,523,768 1,267,136
gg
Fire and rescue3,790,831 3,814,585 - - 3,790,831 3,814,585
Leisure services3,525,094 3,513,992 - - 3,525,094 3,513,992
Maintenance434,984 383,504 - - 434,984 383,504
Municial court262,198 270,345 - - 262,198 270,345
p
Police4,232,185 3,801,644 - - 4,232,185 3,801,644
Streets and drainae2,890,995 2,932,465 - - 2,890,995 2,932,465
g
Water and wastewater- - 9,441,488 9,428,373 9,441,488 9,428,373
Drainage- - 567,567 548,963 567,567 548,963
Interest on
1,142,0431,032,374 400,752 440,703 1,433,126 1,582,746
long-term debt
19,854,77820,130,480 10,409,807 10,418,039 30,540,287 30,272,817
Total expenses
Increases in net assets
before transfers7,249,458 5,790,921 2,119,601 4,716,397 9,369,059 10,507,318
532,357664,085 664,085)( 532,357)( - -
Transfers
Change in net assets7,913,543 6,323,278 1,455,516 4,184,040 9,369,059 10,507,318
Net assets, beginning 80,913,26286,931,540 46,056,212 41,872,172 132,987,752 122,785,434
305,000)-( - - - 305,000)(
Prior period adjustments
$ 86,931,54094,845,083$ 47,511,728$ 46,056,212$ 142,356,811$ 132,987,752$
Net assets, ending
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS
Governmental funds –
The focus of the City of Colleyville’s governmental funds is to provide
information on near-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the City’s financing requirements. In particular, unreserved fund balance may
serve as a useful measure of a government’s net resources available for spending at the end of the
fiscal year.
21
At the end of the current fiscal year, the City of Colleyville’s governmental funds reported combined
ending fund balances of $23,619,858. Approximately 95% of this total amount ($22,365,172)
constitutes unreserved fund balance. The remainder of the fund balance ($1,254,686) is reserved to
indicate that is not available for new spending because it has already been committed to pay for
encumbrances or debt service or to provide for other items. Refer to page 32 of this report for a more
detailed presentation of governmental fund balances.
In the General Fund, the City originally budgeted for a decrease in the fund balance of $145,250 as a
planned reduction of excess fund balance to fund “pay-as-you-go” capital expenditures. Since there
were no budget adjustments in fiscal year 2007, the final budgeted decrease in fund balance was
$145,250. The actual increase to fund balance for the General Fund was $919,667 for fiscal year 2007.
Proprietary funds –
The City’s proprietary fund statements beginning on page 38 of this report
provide the same type of information found in the government-wide financial statements, but in more
detail.
Unrestricted net assets of the respective major proprietary funds are Water and Wastewater
($11,941,086), and Drainage Utility ($1,685,188). These funds experienced increases in total net
assets during 2007 as follows: Water and Wastewater ($1,205,166), and Drainage Utility ($250,350).
Governmental Activities –
The major increase in revenues comes from the tax category. The property
tax base increased over $214 million, due to construction of new residences, businesses, and revaluation
of property. The current year tax collection rate was over 99% of the levy. There was a decrease in
both license and permit revenues due to a decrease in residential building permits. Fines and forfeitures
were up due to an increase in citations issued and enhanced warrant collections. Investment income is
up due to higher interest rates. Bond proceeds were received from the issuance of General Obligation
Bonds to build two fire stations.
Enhancements to the fiscal year 2007 budget continue the renewed focus on street maintenance with a
budget of $800,000, which was an increase of $150,000 from the prior year. The increase in the Police,
and Leisure services areas relate to the addition of two patrol officers and one warrant officer, a parks
maintenance worker. The Debt Service Fund’s expenditures increased due to larger principal payments
on existing debt.
Business-type Activities –
The City has two enterprise operations, the Water and Sewer Fund and the
Drainage Utility Fund. Total operating revenues of the Water and Sewer fund were $9,127,470 for the
fiscal year. Water sales decreased due to record rainfall as compared to record drought conditions that
occurred in fiscal year 2006. Wastewater sales increased primarily due to new residential and
commercial construction. The coverage ratio for debt for this fund was 1.8 for the fiscal year. The
increase in the Drainage Utility fund’s revenues was due to new residential and commercial
construction.
22
Increases in the Water and Sewer Fund expenses relate to the increase in cost of purchased water and
treatment of wastewater from Trinity River Authority. The Authority’s increase relates to higher cost
for electricity, debt issuance for plant expansion and compliance with federal water and wastewater
mandates.
General Fund Budgetary Highlights –
The City made no significant revisions to the original
appropriations approved by the City Council.
The General Fund’s overall budgeted revenue increased by $539,899. The major increase was due to an
anticipated increase in sales tax collections and strong current and delinquent tax collections.
Additionally, there was an increase in revenue from greater citation issuance and enhanced warrant
collections.
Refer to the General Fund Statement of Revenue, Expenditures and Changes in Fund Balances –
Budget and Actual on page 37 of this report for a detailed presentation of the actual General Fund
operations compared to both the original and final budget for fiscal year 2007.
CAPITAL ASSETS
The City of Colleyville’s investment in capital assets for its governmental and business-type activities as
of September 30, 2007, amounts to $141,764,587 (net of accumulated depreciation). This investment in
capital assets includes land, building, equipment, improvements other than buildings, infrastructure and
construction work in progress. Major capital asset events occurring during the current fiscal year
included the following:
Capitalized approximately $.4 million in drainage improvements and contributions;
Capitalized approximately $1.7 million on various water and wastewater system
projects and contributions; and
Capitalized land and building totaling approximately $1.5 million renovated as a
Senior Center.
23
CITY OF COLLEYVILLE’S CAPITAL ASSETS AT YEAR-END
Governmental ActivitiesBusiness-type ActivitiesTotals
200720062007200620072006
Land9,178,641$ 8,166,060$ 313,057$ 313,057$ 9,491,698$ 8,479,117$
Buildings and improvements33,009,573 31,917,131 53,922 53,922 33,063,495 31,971,053
Equipment6,677,567 6,453,615 1,151,754 1,042,720 7,829,321 7,496,335
Infrastructure/water
distribution sewer collection66,938,581 62,994,921 54,088,570 52,343,136 121,027,151 115,338,057
Construction in
progress10,220,176 6,111,505 6,116,151 797,241 16,336,327 6,908,746
Less: accumulated
( 25,631,999) 22,875,108)( 20,351,406)( 18,873,524)( 45,983,405)( 41,748,632)(
depreciation
$ 100,392,539 92,768,124$ 41,372,048$ 35,676,552$ 141,764,587$ 128,444,676$
Total capital assets
Additional information on the City’s capital assets can be found in Note 4, pages 57 – 60 of this
report.
DEBT ADMINISTRATION
At the end of the current fiscal year, the City of Colleyville had total bonded debt, notes payable and
capital lease obligations of $37,250,444. Of this amount, $17,770,000 represents bonded debt backed by
the full faith and credit of the government, $10,372,462 represents bonds secured by sales tax revenues,
$6,540,000 represents bonds secured solely by water and sewer revenues, and $2,205,000 represents
bonds secured solely by drainage utility system revenues. The City’s capitalized lease obligations of
$362,982 pertain to the purchase of an asphalt distributor, mini-excavator, skid steer loader, and fire
pumper truck.
OUTSTANDING DEBT AT YEAR-END
BONDS, NOTES AND CAPITALIZED LEASE OBLIGATIONS PAYABLE
Governmental ActivitiesBusiness-type ActivitiesTotals
200720062007200620072006
General obligation bonds
and certificates of
obligation17,770,000$ 10,665,000$ -$ -$ 17,770,000$ 10,665,000$
Sales tax revenue bonds10,372,462 14,794,008 - - 10,372,462 14,794,008
Revenue bonds payable- - 8,745,000 9,730,000 8,745,000 9,730,000
Capitalized lease
349,189 404,395 13,793 26,933 362,982 431,328
obligations
$ 28,491,651 25,863,403$ 8,758,793$ 9,756,933$ 37,250,444$ 35,620,336$
24
The City's General Obligation, Tax and Water Works and Sewer System Certificates of Obligation,
and Water Works and Sewer System Revenue Bond ratings are listed below.
Standard
Fitch ICBAand Poor's
General Obligation BondsAA+AA+
Water Revenue BondsAA+AA-
Most of the City's Bonds are insured, thus holding a Triple A credit rating from both Fitch ICBA and
Standard & Poor’s. Additional information on the City of Colleyville’s long term-debt can be found
in footnote 4 on pages 60 – 65 of this report.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES
The General Fund budget (including transfers in and planned utilization of surplus) for fiscal year 2008
is based on projected revenue growth of 7.1% compared to the fiscal year 2007 budget. Taxes account
for the majority of the increase. Property taxes, which are about 50% of General Fund revenues, are
budgeted at a 10.5% increase compared to the 2007 budget. This reflects the net effect of valuation
increases and strong increases in new residential and commercial construction. There was an increase of
$.0085 in the ad valorem tax rate from fiscal year 2007 tax rate of $.3474. The total tax rate for fiscal
year 2008 is $.3559. The increase is being used to fund the annual debt service payments of the General
Obligation bonds issued in fiscal year 2007 for the construction of two fire stations. Approximately
14% of General Fund revenues are sales taxes, and sales taxes are budgeted at a 5% increase over the
fiscal year 2007 budget. The 2008 budget includes a planned $180,290 utilization of surplus fund
balance to fund one-time capital expenditures.
The 2008 budget includes for the General Fund and other funds a 6% performance based merit salary
increase for all classes of employees based upon the employee’s performance. The General Fund budget
added $200,000 to the Street department budget for the street overlay budget bringing the total budgeted
for that program to $1,000,000. This is funded in part by an increase in the right-of-way rental fee paid
by the Utility Fund to the General Fund from 2% annually to 4%. Also included in the General Fund
budget is funding for four part-time library staff members to meet current service demands and the
addition of two parks maintenance workers for the opening of McPherson Park.
Revenue growth in the Water and Wastewater Fund will come from additional residential and
commercial customers. Included in the Water and Wastewater Fund’s fiscal year 2008 budget is
$382,000 for the funding of a backhoe, concrete mixer truck, sewer inspection truck, and removal of all
City-owned water wells.
REQUEST FOR INFORMATION
The financial report is designed to provide our citizens, customers, investors and creditors with a
general overview of the City’s finances. If you have questions about this report or need any additional
information, contact Terry Leake, Finance Director, at 100 Main Street, Colleyville, Texas 76034, or
call (817) 503-1015.
25
THIS PAGE INTENTIONALLY LEFT BLANK
26
BASIC
FINANCIAL STATEMENTS
27
CITY OF COLLEYVILLE, TEXA
S
STATEMENT OF NET ASSETS
SEPTEMBER 30, 2007
GovernmentalBusiness-type
ActivitiesActivities
ASSETS
Cash and equivalents11,569,409$ 5,102,720$
Investments12,778,156 10,113,230
Receivables net of allowances for uncollectibles of $282,009
()
Accounts70,823 1,655,496
Property taxes164,646 -
Due from other governments944,624 -
Other assets- 180,968
Inventories- 171,562
Deferred chares343,831 -
g
Accrued interest188,419 172,823
Capital assets:
Land9,178,641 313,057
Buildings and improvements33,009,573 53,922
Equipment 6,677,567 1,151,754
Infrastructure/water distribution/sewer collection66,938,581 54,088,570
Construction in progress10,220,176 6,116,151
( 20,351,406)25,631,999)(
Less: accumulated depreciation
100,392,539 41,372,048
Total capital assets
126,452,447 58,768,847
Total assets
LIABILITIES
Accounts payable1,498,639 1,872,982
Accrued liabilities210,662 42,106
Accrued interest payable256,096
85,351
Advances from developers122,035 18,213
Escrow funds- 1,168
Customer deposits46,861 407,314
Noncurrent liabilities:
Due within one year 2,661,620 893,105
7,936,88026,811,451
Due in more than one year
11,257,11931,607,364
Total liabilities
NET ASSETS
Invested in capital assets, net of related debt71,824,719 32,804,703
Restricted for:
1,080,7511,032,586
Debt service
13,626,27421,987,778
Unrestricted
$ 47,511,72894,845,083$
Total net assets
The accompanying notes are an integral part of these financial statements.
28
Component
TotalUnits
$ 3,391,23016,672,129$
1,267,24722,891,386
-1,726,319
-164,646
-944,624
-180,968
-171,562
-343,831
27,367361,242
-9,491,698
-33,063,495
-7,829,321
867,500121,027,151
-16,336,327
( -45,983,405)
867,500141,764,587
5,553,344185,221,294
8,2503,371,621
-252,768
42,112341,447
-
140,248
-
1,168
-
454,175
410,0003,554,725
6,730,00034,748,331
7,190,36242,864,483
-104,629,422
-2,113,337
1,637,018)35,614,052(
$ 1,637,018)142,356,811$(
29
CITY OF COLLEYVILLE, TEXA
S
STATEMENT OF ACTIVITIE
S
FOR THE YEAR ENDED SEPTEMBER 30, 2007
Program Revenue
OperatingCapital Grants
Charges for Grants and and
ServicesContributionsContributions
Functions/ProgramsExpenses
Primary government
Governmental activities:
General government2,438,051$ 6,000$ 13,253$ -$
Community development1,523,768 1,454,744 - -
Fire and rescue3,790,831 303,868 8,700 1,253,579
Leisure services3,525,094 424,024 323,448 572,414
Maintenance434,984 - - -
Municipal court262,198 932,452 - -
Police4,232,185 81,054 86,282 -
Streets and drainage2,890,995 355,157 - 3,546,288
-1,032,374 - -
Interest on long-term debt
3,557,29920,130,480 431,683 5,372,281
Total governmental activities
Business-type activities:
Water and wastewater9,738,034 9,127,470 - 1,561,255
841,973671,773 - -
Drainage
9,969,44310,409,807 - 1,561,255
Total business-type activities
$ 13,526,74230,540,287$ 431,683$ 6,933,536$
Total primary government
Component unit
$ -739,402$ -$ -$
Tax increment financing
$ -739,402$ -$ -$
Total component unit
General revenues:
Taxes:
Property taxes, levied for general purposes
Property taxes, levied for debt service
TIF taxes
Sales taxes
Franchise taxes
Other taxes
Investment earnings
Miscellaneous
Transfers
Total general revenues, special items, and transfers
Change in net assets
Net assets - beginning
Net assets - ending
The accompanying notes are an integral part of these financial statements.
30
Net (Expense) Revenue and Changes in Net Assets
Primary Government
GovernmentalBusiness-type
ActivitiesActivitiesComponent Units
Total
$( -2,418,798)$ 2,418,798)$( -$
( -69,024) 69,024)( -
( -2,224,684) 2,224,684)( -
( -2,205,208) 2,205,208)( -
( -434,984) 434,984)( -
-670,254 670,254 -
( -4,064,849) 4,064,849)( -
-1,010,450 1,010,450 -
(1,032,374) - 1,032,374)( -
( -10,769,217) 10,769,217)( -
950,691- 950,691 -
170,200- 170,200 -
1,120,891- 1,120,891 -
( 1,120,89110,769,217) 9,648,326)( -
-- - 739,402)(
-- - 739,402)(
-8,141,561 8,141,561 -
-2,012,214 2,012,214 -
-- - 3,188,476
-4,674,068 4,674,068 -
-1,779,376 1,779,376 -
-89,132 89,132 -
998,7101,224,361 2,223,071 236,600
-97,963 97,963 100
664,085 664,085)( - -
334,62518,682,760 19,017,385 3,425,176
1,455,5167,913,543 9,369,059 2,685,774
46,056,21286,931,540 132,987,752 4,322,792)(
$ 47,511,72894,845,083$ 142,356,811$ 1,637,018)$(
31
CITY OF COLLEYVILLE, TEXAS
BALANCE SHEET
GOVERNMENTAL FUND
S
SEPTEMBER 30, 2007
GeneralDebt ServiceCapital Projects
ASSETS
Cash and cash equivalents2,638,431$ 538,125$ 4,212,578$
Investments5,882,717 726,018 3,110,732
Receivables (net of allowances for uncollectibles)
Accounts70,823 - -
Taxes130,650 33,996 -
Due from other governments475,390 2,923 20,057
7,55385,444 43,716
Accrued interest
$ 1,308,6159,283,455$ 7,387,083$
Total assets
LIABILITIES AND FUND BALANCE
S
Liabilities:
Accounts payable367,684 - 1,012,121
Accrued liabilities189,555 19,933-
Deferred revenue184,026 33,996 -
Advances from developers- - 91,412
-46,861 -
Customer deposits
53,929788,126 1,103,533
Total liabilities
Fund balances:
Reserved for:
Debt service- 1,254,686 -
Unreserved8,495,329 - -
Unreserved, reported in:
Special revenue funds- - -
-- 6,283,550
Capital projects funds
1,254,6868,495,329 6,283,550
Total fund balances
$ 1,308,6159,283,455$ 7,387,083$
Total liabilities and fund balances
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.
Other long-term assets are not available to pay for current-period expenditures and, therefore are deferred in the funds.
Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds.
Net assets of governmental activities
The accompanying notes are an integral part of these financial statements.
32
Total
OtherGovernmental
GovernmentalFunds
$ 11,569,4094,180,275$
12,778,1563,058,689
70,823-
164,646-
944,624446,254
51,706 188,419
$ 7,736,924 25,716,077$
1,498,639118,834
210,6621,174
218,022-
122,03530,623
46,861-
150,631 2,096,219
1,254,686-
8,495,329-
4,814,4124,814,412
2,771,881 9,055,431
7,586,293 23,619,858
$ 7,736,924
100,392,539
218,022
(29,385,336)
$ 94,845,083
33
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
S
GOVERNMENTAL FUND
S
FOR THE YEAR ENDED SEPTEMBER 30, 2007
GeneralDebt ServiceCapital Projects
REVENUE
S
Taxes12,439,375$ 2,008,234$ -$
Fees and fines907,768 - -
Licenses and permits1,244,218 - -
Intergovernmental- - -
Charges for services1,046,679 - -
Capital improvement fees- - 389,657
Donations- - -
Investment earnings547,029 57,241 306,852
Developer contributions- - 683,425
-78,505 9,458
Miscellaneous
2,065,47516,263,574 1,389,392
Total revenues
EXPENDITURE
S
Current:
General government2,217,985 - 15,394
Community development and engineering1,417,216 - -
Fire and rescue3,480,975 - 35,967
Leisure services2,462,166 - 44,171
Maintenance415,708 - -
Municipal court234,440 - -
-3796292 -
Police
,,
Streets and drainage1,485,756 - -
Debt service:
Principal- 1,750,204 -
Interest and other charges- 637,692 64,943
-65,535 4,600,263
Capital outlay
2,387,89615,576,073 4,760,738
Total expenditures
EXCESSDEFICIENCY OF REVENUES
()
322,421)687,501( 3,371,346)(
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES USES
()
Proceeds from long-term debt, net- 4,895,000 4,995,000
Payment to refunded bond escrow agent- (4,921,334)-
Sale of capital assets- - -
Transfers in664,085 520,760 244,919
( -431,919) -
Transfers out
494,426232,166 5,239,919
Total other financing sources and uses
172,005919,667 1,868,573
NET CHANGE IN FUND BALANCES
1,082,6817,575,662 4,414,977
FUND BALANCES, BEGINNING
$ 1,254,6868,495,329$ 6,283,550$
FUND BALANCES, ENDING
The accompanying notes are an integral part of these financial statements.
34
Total
OtherGovernmental
GovernmentalFunds
$ 16,701,2902,253,681$
965,41657,648
1,244,218-
4,3614,361
1,190,327143,648
389,657-
735,756735,756
1,224,361313,239
683,425-
107,70019,737
23,246,5113,528,070
2,247,35913,980
1,467,21650,000
3,517,817875
2,913,798407,461
415,708-
252,96118,521
3165683 961975
,,,
1,485,756-
2,005,204255,000
1,094,001391,366
6,337,6561,671,858
25,699,4512,974,744
2,452,940)553,326(
9,890,000-
4,921,334)-(
8,8008,800
1,637,154207,390
( 973,069)541,150)(
( 5,641,551324,960)
3,188,611228,366
20,431,2477,357,927
$ 23,619,8587,586,293$
35
CITY OF COLLEYVILLE, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURE
S
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUND
S
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2007
AmountsreportedforgovernmentalactivitiesintheStatementofActivities(pages
30 - 31) are different because:
Net change in fund balances - total governmental funds:3,188,611$
Governmentalfundsreportcapitaloutlayasexpenditures.Howeverinthe
s,
statementofactivities,thecostofthoseassetsisallocatedovertheirestimated
useful lives and reported as depreciation expense. 7,656,179
Revenuesinthestatementoactivities,thatdonotrovidcurrentfinancial
,fpe
resources, are not reported as revenues in the funds.39,949
Theissuanceolong-termdeb(e.g.,bonds,leases)rovidecurrentfinancial
ftps
resourcestogovernmentalfunds,whiletherepaymentoftheprincipaloflong-
term debt consumes the current financial resources of governmental funds.2,790,842)(
Somexpensereporteinthestatementoactivitiesdonotrequiretheuseo
esdff
currentfinancialresourcesandthereforearenotreportedasexpendituresin
governmental funds.
(180,354)
$ 7,913,543
Change in net assets of governmental activities
The accompanying notes are an integral part of these financial statements.
36
CITY OF COLLEYVILLE, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2007
Variance with
Final Budget -
Budgeted Amounts
ActualPositive
OriginalFinalAmounts(Negative)
REVENUE
S
Taxes $ 330,85512,439,375$
$ 12,108,52012,108,520$
License and permits 290,026)1,244,218(
1,534,2441,534,244
Fines and forfeitures 284,018907,768
623,750623,750
Charges for services 19,9091,046,679
1,026,7701,026,770
Investment earnings 164,529547,029
382,500382,500
78,505 30,614
47,89147,891
Other
15,723,67515,723,675 16,263,574 539,899
Total revenues
EXPENDITURE
S
Current:
General government 89,4142,217,985
2,307,3992,307,399
Community development and engineering 73,3001,417,216
1,490,5161,490,516
Fire and rescue 6,903)3,480,975(
3,474,0723,474,072
Leisure services 24,0002,462,166
2,486,1662,486,166
Maintenance 21,960415,708
437,668437,668
Municipal court 176234,440
234,616234,616
Police 5403,796,292
3,796,8323,796,832
Streets and drainage 261,5431,485,756
1,747,2991,747,299
155,84065,535 49,817
115,352
Capital outlay
16,089,92016,130,408 15,576,073 513,847
Total expenditures
EXCESS(DEFICIENCY) OF REVENUES
(406,733) 366,245)( 687,501 1,053,746
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in 119,384664,085
544,701544,701
Transfers out( 296,919)431,919)(
( 135,000)135,000)(
10,000 10,000 - 10,000)(
Sale of capital assets
419,701 419,701 232,166 187,535)(
Total other financing sources and uses
NET CHANGE IN FUND BALANCE 53,45612,968 919,667 866,211
7,575,662 7,575,662 7,575,662 -
FUND BALANCE, BEGINNING
$7,588,630 7,629,118$ 8,495,329$ 866,211$
FUND BALANCE, ENDING
The notes to the financial statements are an integral part of this statement.
37
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF NET ASSETS
PROPRIETARY FUND
S
SEPTEMBER 30, 2007
Enterprise Funds
Water and
WastewaterDrainage UtilityTotal
ASSETS
Current assets:
Cash and cash equivalents$ 1,204,9243,897,796$ 5,102,720$
Investments 482,2689,630,962 10,113,230
Accounts receivable, net of allowance 101,3191,554,177 1,655,496
Other assets -180,968 180,968
-171,562 171,562
Inventories
15,435,465 1,788,511 17,223,976
Total current assets
Non-current assets:
Accrued interest receivabl 10,480162,343 172,823
e
Capital assets:
Land and imrovement -313,057 313,057
ps
Buildin -53922 53922
gs,,
Utilit sste 350860190 54228380088570
yym,,,,,,
Euiment and furnitur 279,899871,855 1,151,754
qpe
Construction in rores 235,7345,880,417 6,116,151
pgs
(19,634,404) 717,002)( 20,351,406)(
Less accumulated depreciation
38,507,380 3,037,491 41,544,871
Total non-current assets
53,942,845 4,826,002 58,768,847
Total assets
LIABILITIES
Current liabilities
:
Accounts aabl 78,1921,794,790 1,872,982
pye
Accrued liabilitie 4,47237,634 42,106
s
Accrued interest aabl 13,22172,130 85,351
pye
Advances from develoe -18,213 18,213
pr
Escrow fund -1,168 1,168
s
Customer deosit -407,314 407,314
ps
Comensated absence 1,70812,604 14,312
ps
Caital lease - 13,793 13,793
p
165,000700,000 865,000
Revenue bonds payable
276,3863,043,853 3,320,239
Total current liabilities
Non-current liabilities
Compensated absences 5,73051,150 56,880
2,040,0005,840,000 7,880,000
Revenue bonds payable
2,045,7305,891,150 7,936,880
Total non-current liabilities
2,322,1168,935,003 11,257,119
Total liabilities
NET ASSETS
Invested in caital assets, net of related de 818,69831,986,005 32,804,703
pb
Restricted for debt servic -1,080,751 1,080,751
e
11,941,086 1,685,188 13,626,274
Unrestricted
$ 45,007,842 2,503,886$ 47,511,728$
Total net assets
The accompanying notes are an integral part of these financial statements.
38
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND NET ASSETS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2007
Enterprise Funds
Water and Drainage
WastewaterUtilityTotal
OPERATING REVENUES
Metered water sales6,141,513$ -$ 6,141,513$
Wastewater service charges2,132,689 - 2,132,689
Drainage service charges- 828,780 828,780
Other charges and services816,905 13,193 830,098
36,363 - 36,363
Miscellaneous
841,9739,127,470 9,969,443
Total operating revenues
OPERATING EXPENSES
Personnel services1,835,172 320,572 2,155,744
Maintenance and contractual services6,053,579 78,482 6,132,061
Materials and supplies151,870 63,333 215,203
105,1801,400,867 1,506,047
Depreciation
567,5679,441,488 10,009,055
Total operating expenses
( 274,406314,018) 39,612)(
OPERATING INCOME (LOSS)
NON-OPERATING REVENUES (EXPENSES)
Interest and investment revenues918,560 80,150 998,710
( 104,206)296,546)( 400,752)(
Interest expense and fiscal charges
24,056)622,014( 597,958
Total non-operating revenues (expenses)
INCOME BEFORE CONTRIBUTIONS
AND TRANSFERS 250,350307,996 558,346
Capital contributions1,561,255 - 1,561,255
( -664,085) 664,085)(
Transfers out
CHANGE IN NET ASSETS 250,3501,205,166 1,455,516
2,253,53643,802,676 46,056,212
TOTAL NET ASSETS, BEGINNING
$ 2,503,88645,007,842$ 47,511,728$
TOTAL NET ASSETS, ENDING
The accompanying notes are an integral part of these financial statements.
39
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUND
S
YEAR ENDED SEPTEMBER 30, 2007
Enterprise Funds
Water andDrainage
WastewaterUtilityTotals
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers9,273,255$ 837,517$ 10,110,772$
Cash paid to suppliers for goods and services1,819,168)( 321,607)( 2,140,775)(
( 70,783)5,127,773)( 5,198,556)(
Cash paid to employees for services
445,1272,326,314 2,771,441
Net cash provided by operating activities
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
( -664,085) 664,085)(
Transfers out
Net cash used for noncapital
( -664,085) 664,085)(
financing activities
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of capital assets5,391,284)( 220,838)( 5,612,122)(
Principal paid on debt825,000)( 173,140)( 998,140)(
( 104,206)296,546)((400,752)
Interest paid on debt
Net cash used for capital and
( 498,184)6,512,830)( 7,011,014)(
related financing activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase (sale) of investments1,361,372 170,354 1,531,726
80,150918,560 998,710
Earnings on investments
250,5042,279,932 2,530,436
Net cash provided by investing activities
NET INCREASE (DECREASE) IN CASH
( 197,4472,570,669) 2,373,222)(
AND CASH EQUIVALENTS
1,007,4776,468,465 7,475,942
CASH AND CASH EQUIVALENTS, BEGINNING
$ 1,204,9243,897,796$ 5,102,720$
CASH AND CASH EQUIVALENTS, ENDING
(continued)
40
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
(Continued)
YEAR ENDED SEPTEMBER 30, 2007
Enterprise Funds
Water andDrainage
WastewaterUtilityTotals
Reconciliation of operating income (loss) to net cash
provided (used) by operating activities:
Operating income (loss)314,018)$( 274,406$ 39,612)$(
Adjustments to reconcile operating income (loss)
to net cash provided by (used for) operating activities:
Depreciation and amortization expense1,372,701 105,180 1,477,881
Changes in assets and liabilities:
Decrease (increase) in assets:
Accounts receivable137,109 4,456)( 132,653
Inventory22,694)( - 22,694)(
Accrued interest receivable8,638 3,825)( 4,813
Other assets28,166 - 28,166
Increase (decrease) in liabilities:
Accounts payable1,100,308 76,283 1,176,591
Accrued liabilities15,268 68 15,336
Compensated absences payable736 1,103)( 367)(
Customer deposits9,200 - 9,200
Advances from developers1 - 1
( 1,426)8,576)( 10,002)(
Accrued interest payable
$ 445,1272,326,314$ 2,771,441$
Net cash provided by operations
Noncash investing, capital, and financing activities:
Contributions of capital assets1,561,255$ -$ 1,561,255$
Increase in fair value of investments1,361,372)( 170,354)( 1,531,726)(
The notes to the financial statements are an integral part of this statement.
41
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF FIDUCIARY NET ASSET
S
FIDUCIARY FUND
S
SEPTEMBER 30, 2007
Agency Fund
ASSETS
$ 20,054
Cash and investments
$ 20,054
Total assets
LIABILITIES
$ 20,054
Due to other agencies and individuals
$ 20,054
Total liabilities
The accompanying notes are an integral part of these financial statements.
42
CITY OF COLLEYVILLE, TEXAS
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2007
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Colleyville Home Rule Charter was adopted by the voters at an election held on
January 15, 1977. The City operates under a Council-Manager form of government.
The accounting policies of the City of Colleyville, Texas (the “City”) conform to generally
accepted accounting principles as applicable to governmental units. The following is a summary
of the more significant of such policies:
A. Reporting Entity
As required by generally accepted accounting principles, these 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 and so data from these units are combined
with data of the primary government. Each directly presented component unit, on the other
hand, is reported in a separate column in the combined financial statements to emphasize it is
legally separate from the government. Each blended component unit has a September 30
year-end.
Blended Component Unit – The Colleyville Economic Development Corporation (CEDC)
was incorporated on September 3, 1996, as a nonprofit industrial development corporation
under the Development Corporation Act of 1979 (“Act”). The CEDC operates under a seven
(7) member Board of Directors appointed by the City Council. Each of the directors shall be
a resident of the City. The Corporation is organized exclusively for the purposes of
benefiting and accomplishing public purposes of and to act on behalf of, the City, and the
specific purposes for which the Corporation is organized. This includes municipal park
improvements, the purchase of land and improvements for additional neighborhood parks,
the construction of a community center and library. Although it is legally separate from the
City, the CEDC is reported as if it were part of the primary government, because CEDC is
financing public improvements and the City is the primary beneficiary of the services
provided.
(continued)
43
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
A. Reporting Entity (Continued)
Blended Component Unit – Colleyville Crime Control and Prevention District (the District)
was formed under Chapter 363 of the Texas Local Government Code, the Crime Control and
Prevention District Act. The District is organized to act on behalf of the City for financing,
development of crime control throughout the City. The District is governed by a six-member
board consisting of all members of the City Council. The District is reported as a part of the
primary government because it provides services entirely for the City.
Directly Presented Component Unit – Colleyville Tax Increment Financing Reinvestment
Zone Number One (the TIF) was formed to make public improvements, under the authority
of the Tax Increment Financing Act. The TIF is governed by a nine-member board
consisting of five members appointed by the City Council and one member each appointed
by the four other participating taxing entities. The primary government appoints a voting
majority of the unit’s governing body and the City has a potential economic benefit from this
unit. Therefore, the TIF is presented in the accompanying financial statements as a discretely
presented component unit. Separate financial statements of the individual component units
are not available.
B. Government-wide Fund Financial Statements
The government-wide financial statements (i.e., the statement of net assets and the statement
of activities) report information on all of the nonfiduciary activities of the primary
government and its component units. 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 revenue, are reported separately from business-type
activities, which rely to a significant extent on fees and charges for support. Likewise, the
primary government is reported separately from certain legally separate component units for
which the primary government is financially accountable.
The statement of activities demonstrates the degree to which the direct expenses of a given
function or segment are offset by program revenue. Direct expenses are those that are clearly
identifiable with a specific function or segment. Program revenue includes 1) charges to
customers or applicants who purchase, use, or directly benefit from goods, services, or
privileges provided by a given function or segment, and 2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function or
segment. Taxes and other items not properly included among program revenue are reported
instead as general revenue.
Separate financial statements are provided for governmental funds, proprietary funds, and
fiduciary funds, even though the latter are excluded from the government-wide financial
statements. Major individual governmental funds and major individual Enterprise Funds are
reported as separate columns in the fund financial statements.
(continued)
44
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
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 financial statements, except for Agency Funds, which have no measurement
focus. Revenues are recorded when earned and expenses are recorded when a liability is
incurred, regardless of the timing of related cash flows. Property taxes are recognized as
revenue in the year for which they are levied. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the provider have been met.
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 revenue to be available if
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, debt service
expenditures, as well as expenditures related to compensated absences and claims and
judgments, are recorded only when payment is due.
Property taxes, franchise taxes, sales taxes, and interest associated with the current fiscal
period are all considered to be susceptible to accrual and so have been recognized as revenue
of the current fiscal period. All other revenue items are considered to be measurable and
available only when cash is received by the City.
GOVERNMENTAL FUNDS
Governmental Funds are those through which most governmental functions of the City
are financed. The acquisition, use, and balances of the City’s expendable financial
resources and the related liabilities (except those accounted for in the proprietary fund
type) are accounted for through governmental funds. The measurement focus is upon
determination of changes in financial position, rather than upon net income
determination. The following are the City’s governmental fund types:
The City reports the following major governmental funds:
TheGeneral Fund – is the general operating fund of the City. It is used to
account for all financial resources except those required to be accounted for in
another fund.
TheDebt Service Fund – is used to account for the acquisition of resources
for, and the payment of, general long-term debt principal and interest, and
related costs.
(continued)
45
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
(Continued)
GOVERNMENTAL FUNDS (Continued)
TheCapital Projects Fund– is used to account for financial resources to be
used for the acquisition or construction of general major capital facilities.
Financing is provided primarily by the sale of general obligation bonds and
developer contributions.
Additionally, the City also reports the following fund type:
TheSpecial Revenue Fund– accounts for the revenues and expenditures
associated with a special project or purpose.
PROPRIETARY FUNDS
Proprietary Funds are used to account for activities that are similar to those often found
in the private sector. The measurement focus is upon determination of net income and
capital maintenance.
The City reports the following major proprietary funds:
TheWater and Wastewater Fund– is used to account for operations (a) that
are financed and operated in a manner similar to private business enterprises –
where the intent of the governing body is that the costs (expenses, including
depreciation) of providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges; or
(b) where the governing body has decided that periodic determination of
revenue earned, expenses incurred, and/or net income is appropriate for
capital maintenance, public policy, management control, accountability, or
other purposes. This fund is used to account for water and wastewater
operations.
TheDrainage Utility Fund– is used to account for the establishment and
maintenance of drainage facilities within the municipal boundaries of the City.
All activities necessary to provide such facilities are accounted for in this
fund, included but not limited to, administration, operations, maintenance,
billing and collections.
FIDUCIARY FUNDS
Agency Fund–Fiduciary Funds are used to account for assets held by the
City in a trustee capacity or as an agent on behalf of others. Agency funds are
custodial in nature and do not present results of operations or have a
measurement focus. The City has two agency funds: Employee Activity and
the Sesquicentennial Fund.
(continued)
46
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
(Continued)
Private-sector standards of accounting and financial reporting issued prior to December 1,
1989, generally are followed in both the government-wide and proprietary fund financial
statements to the extent that those standards do not conflict with or contradict guidance of the
Governmental Accounting Standards Board. Governments also have the option of following
subsequent private-sector guidance for their business-type activities and Enterprise Funds,
subject to this same limitation. The City has elected not to follow subsequent private-sector
guidance.
As a general rule, the effect of interfund activity has been eliminated from the government-
wide financial statements. Exceptions to this general rule are charges between the City’s
water and wastewater function and various other functions of the government. Elimination
of these charges would distort the direct costs and program revenue reported for the various
functions concerned.
Amounts reported as program revenues include: 1) charges to customers or applicants for
goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital
grants and contributions, including special assessments. Internally dedicated resources are
reported as general revenues rather than as program revenue. Likewise, general revenue
includes all taxes.
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 City’s Enterprise Funds are charges to customers for sales
and services. Operating expenses for Enterprise Funds include the cost of sales and services,
administrative expenses, and depreciation on capital assets. All revenue and expenses not
meeting this definition are reported as nonoperating revenue and expenses.
D. Cash and Cash Equivalents
For purposes of the statement of cash flows, the Enterprise Fund considers all highly liquid
investments (investments with original maturities less than 90 days, including restricted
assets) to be cash equivalents.
(continued)
47
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
E. Investments
In accordance with GASB Statement No. 31, the City’s general policy is to report money
market investments and short-term participating interest-earning investment contracts at
amortized cost and to report nonparticipating interest-earning investment contracts using a
cost-based measure. However, if the fair value of an investment is significantly affected by
the impairment of the credit standing of the issuer or by other factors, it is reported at fair
value. All other investments are reported at fair value unless a legal contract exists which
guarantees a higher value. The term “short-term” refers to investments, which have a
remaining term of one year or less at time of purchase. The term “nonparticipating” means
that the investment’s value does not vary with market interest rate changes.
F. Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements
outstanding at the end of the fiscal year are referred to as either “due to/from other funds”
(i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the
noncurrent portion of interfund loans). All other outstanding balances between funds are
reported as “due to/from other funds.” Any residual balances outstanding between the
governmental activities and business-type activities are reported in the government-wide
financial statements as “internal balances.”
Advances between funds, as reported in the fund financial statements, are offset by a fund
balance reserve account in applicable governmental funds to indicate that they are not
available for appropriation and are not expendable available financial resources.
All trade and property tax receivables are shown net of an allowance for uncollectibles.
Trade accounts receivable in excess of 30 days comprise the trade accounts receivable
allowance for uncollectibles. The property tax receivable allowance is equal to one percent
of outstanding property taxes at September 30, 2007.
Property taxes are levied on October 1 and attach as an enforceable lien on property as of
January 1. Statements are mailed on October 1, or as soon thereafter as possible, and are due
upon receipt. All unpaid taxes become delinquent if not paid before February 1 of the
following year.
G. Inventories
Inventories in the Enterprise Fund are valued at cost (first-in, first-out method).
(continued)
48
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
H. Capital Assets
Capital assets, which include property, plant, equipment and infrastructure assets (e.g. roads,
bridges, sidewalks and similar items) are reported in the applicable governmental or
business-type activities columns in the government-wide financial statements. The City
defines capital assets as assets with an initial, individual cost of more than $5,000 (amount
not rounded) and an estimated useful life in excess of one year. Such assets are recorded at
historical cost or estimated historical cost if purchased or constructed. 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.
Major outlays for capital assets and improvements are capitalized as projects are constructed.
Property, plant and equipment is depreciated using the straight-line method over the
following estimated useful lives:
AssetsYears
Buildings15 - 50
Improvements20 - 50
Equipment5 - 10
Infrastructure (streets and drainage)50
Water distribution/sewer collection5 - 40
I. Other Assets – Enterprise Fund
Other assets consist of expenses incurred in connection with the issuance of certain outstanding
revenue bonds. Such charges are amortized on a straight-line basis over the lives of the bonds.
J. Compensated Absences
City employees are granted vacation and sick pay in varying amounts. In the event of
termination, an employee is paid for all accumulated, unused vacation. Vacation pay is
accrued as it vests to the employee. Sick pay is recorded when paid or upon retirement when
a maximum of 90 days is paid. The accrued sick pay is not recorded, as the City’s policy is
not to compensate employees upon separation of services with the City, except for
retirement, and such amounts are not considered material. All vacation pay is accrued when
incurred in the government-wide and proprietary fund financial statements.
(continued)
49
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
K. 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 assets.
In the fund financial statements, the face amount of debt issued is reported as other financing
sources for the governmental fund types.
For governmental fund types, bond premiums and discounts, as well as issuance costs, are
recognized during the current period. Bond proceeds are reported as an other financing
source. Issuance costs, even if withheld from the actual net proceeds received, are reported
as expenditures. For proprietary fund types, bond premiums and discounts, as well as issuance
costs, are charged to current operations rather than being deferred and amortized due to the
relatively immaterial effect on the basic financial statements taken as a whole.
L. Fund Equity
Restrictions of fund balance represent amounts that are not available for appropriation or are
legally segregated for specific purposes. Restrictions of net assets are limited to outside third
party restrictions. Designations of fund balance represent tentative management plans that
are subject to change.
In the Special Revenue Funds, fund balances reserved for other represent amounts which are
restricted for expenditure in accordance with the purposes for which the fund was
established, such as park and library improvements, tree preservation, hosting recreational
events and tournaments, and increasing recycling efforts within the City. Amounts under
these reservations are listed on the accompanying basic financial statements as reserved for
other.
M. Risk Management
Insurance coverage for property, liability and workers’ compensation is provided by the
Texas Municipal League Intergovernmental Risk Pool, a state insurance pool. Contributions
to the Risk Pool for workers’ compensation are based on the City’s past claims history. The
Risk Pool is self-sustaining through members’ contributions and maintains insurance to limit
risk of loss with an external insurance company. Settlement claims have not exceeded
aggregate limits in the past three fiscal years.
50
2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the
Government-wide Statement of Net Assets
The governmental fund balance sheet includes a reconciliation between fund balance – total
governmental funds and net assets – governmental activities as reported in the government-wide
statement of net assets. One element of that reconciliation explains, “Long-term liabilities are
not due and payable in the current period and therefore are not reported in the funds.” The
details of this $(29,385,336) difference are as follows:
Serial Bonds and Certificates of Obligation26,300,801$( )
Accrued interest payable256,096()
Compensated absences37,597()
Debt issued or incurred9890000
(,,)
7,099,158
Principal retirement
Net adjustment to reduce fund balance - total
governmental funds to arrive at net assets -
$(29,385,336)
governmental activities
Explanation of Certain Differences Between the Governmental Fund Statement of Revenue,
Expenditures and Changes in Fund Balances and the Government-wide Statement of
Activities
The governmental fund statement of revenue, expenditures and changes in fund balances
includes a reconciliation between net changes in fund balances – total governmental fund and
changes in net assets of governmental activities as reported in the government-wide statement of
activities. One element of that reconciliation explains, “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.” The details of
this $7,656,179 difference are as follows:
Capital outlay10,454,098$
(2,797,919)
Depreciation expense
Net adjustment to increase net changes in fund balances -
total governmental funds to arrive at changes in net
$ 7,656,179
assets of governmental activities
(continued)
51
2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
(Continued)
Explanation of Certain Differences Between the Governmental Fund Statement of Revenue,
Expenditures and Changes in Fund Balances and the Government-wide Statement of
Activities
(Continued)
Another element of that reconciliation states, “Revenues in the statement of activities that do not
provide current financial resources are not reported as revenues in the funds.” The details of this
$39,949 difference are as follows:
Property taxes18,025$
Ambulance revenue20,562
1,362
Adjudicated fines
Net adjustment to increase net changes in fund balances -
total governmental funds to arrive at changes in net
$ 39,949
assets of governmental activities
Another element of that reconciliation states, “The issuance of long-term debt (e.g., bonds,
leases) provides current financial resources to governmental funds, while the repayment of the
principal of long-term debt consumes the current financial resources of governmental funds.”
Neither transaction, however, has any effect on net assets. The details of this $(2,790,842)
difference are as follows:
Debt issued or incurred9,890,000$( )
7,099,158
Principal payments and refundings
Net adjustment to reduce fund balance -total
governmental funds to arrive at net assets -
$(2,790,842)
governmental activities
Another element of that reconciliation states, “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.” The details of this $(180,354) difference are as follows:
Compensated absences37,597$( )
Accrued interest110,993()
(31,764)
Loss on sale of assets
Net adjustment to decrease net changes in fund balances -
total governmental funds to arrive at changes in net
$(180,354)
assets of governmental activities
52
3. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Budgetary Information
The City Council follows these procedures in establishing budgetary data reflected in the
basic financial statements:
(1) Prior to September 1, the City Manager submits to the City Council a
proposed operating budget for the fiscal year commencing the following
October 1. The operating budget includes proposed expenditures and the
means of financing them.
(2) Public hearings are conducted to obtain taxpayer comments.
(3) Prior to September 30, the budget is legally enacted through passage of an
ordinance.
(4) The City Manager is authorized to transfer budgeted amounts between
departments within any fund; however, any revisions that alter the total
expenditures of any fund must be approved by the City Council.
(5) Formal budgetary integration is employed as a management control device
during the year for the General, Debt Service, and Enterprise Funds.
Budgetary control is maintained at the fund level.
Internal budgets are prepared and reviewed by the City Council for
expenditures of Special Revenue Funds. These budgeted expenditures are not
formally adopted by the City Council. No budgets were prepared for revenue
of these funds for the year ended September 30, 2007.
(6) Budgets for the General and the Debt Service Funds are adopted on a basis
consistent with generally accepted accounting principles (GAAP). Formal
budgeted amounts are as amended by the City Council for the General, Debt
Service and Enterprise Funds.
(7) Budgetary data for the Capital Projects Fund has not been presented in the
accompanying basic financial statements, as such funds are budgeted over the
life of the respective project and not on an annual basis. Accordingly, formal
budgetary integration of the Capital Projects Fund is not employed and
comparison of actual results of operations to budgetary data for such fund is
not presented.
(8) Budgetary data for the Enterprise and Drainage Utility Funds has not been
presented since the reporting on such budgets is not legally required.
Expenditures Over Appropriations
General Fund expenditures in the Fire and Rescue function exceeded appropriations by
$6,903. This overage was funded by under spending in other functions.
(continued)
53
3. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
(Continued)
A. Budgetary Data
(Continued)
Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other commitments
for the expenditure of funds are recorded in order to reserve that portion of the applicable
fund balance, is employed in the governmental funds. Encumbrances are reported as
reservations of fund balances because they do not constitute expenditures or liabilities.
Deficit Net Assets
The City’s component unit, the Tax Increment Financing District, has negative net assets of
$(1,637,018). This deficit is due to the conversion to the new reporting model GASB No.
34. The component unit has long-term debt with no capital assets. Purchases made by this
fund are contributed to the City or other entities that participate in the District. This fund
will continue to have a deficit fund balance until the entities’ debt has been repaid.
4. DETAILED NOTES ON ALL FUNDS
Deposits and Investments
As of September 20, 2007, the City had the following investments:
FairWeighted Average
Investment TypeValueMaturity (Days)
LOGIC18,221,442$ 39
U. S. Treasuries24,158,633 291
Total fair value42,380,075$
Portfolio weighted average maturity (days)200
(continued)
54
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Deposits and Investments
(Continued)
The Public Funds Investment Act (Government Code Chapter 2256) contains specific provisions
in the areas of investment practices, management reports and establishment of appropriate
policies. Among other things, it requires the City to adopt, implement, and publicize an
investment policy. That policy must address the following areas: (1) safety of principal and
liquidity, (2) portfolio diversification, (3) allowable investments, (4) acceptable risk levels, (5)
expected rates of return, (6) maximum allowable stated maturity of portfolio investments, (7)
maximum average dollar-weighted maturity allowed based on the stated maturity date for the
portfolio, (8) investment staff quality and capabilities, and (9) bid solicitation preferences for
certificates of deposit. Statutes authorize the City to invest in (1) obligations of the U. S.
Treasury, certain U. S. agencies, and the State of Texas; (2) certificates of deposit, (3) certain
municipal securities, (4) money market savings accounts, (5) repurchase agreements, (6) bankers
acceptances, (7) Mutual Funds, (8) investment pools, (9) guaranteed investment contracts, and
(10) common trust funds. The Act also requires the City to have independent auditors perform
test procedures related to investment practices as provided by the Act. The City is in substantial
compliance with the requirements of the Act and with local policies.
The City’s investment pools are 2a7-like pools. A 2a7-like pool is one which is not registered
with the Securities and Exchange Commission (“SEC”) as an investment company, but
nevertheless has a policy that it will, and does, operate in a manner consistent with the SEC’s
Rule 2a7 of the Investment Company Act of 1940.
Interest Rate Risk.In accordance with its investment policy, the government manages its
exposure to declines in fair market values by limiting the average dollar weighted maturity of its
investment portfolios to a maximum of 90 days.
Custodial Credit Risk.In the case of deposits, this is the risk that in the event of a bank failure,
the City’s deposits may not be returned to it. As of September 30, 2007, $651,653 of the City’s
$551,653 deposit balance was collateralized with securities held by the pledging financial
institution. The remaining balance, $100,000, was covered by FDIC insurance.
Credit Risk. It is the City’s policy to limit its investments to investment types with an
investment quality rating not less than A or its equivalent by a nationally recognized statistical
rating organization. The City’s investment pools are rated as follows by Standard and Poor’s
Investors Service.
LOGICAAA
U. S. TreasuriesAAA
(continued)
55
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Receivables
Receivables as of year-end for the government’s individual major funds, nonmajor funds and
enterprise funds in the aggregate, including the applicable allowances for uncollectible accounts,
are as follows:
Governmental FundsEnterprise Funds
DebtCapitalNonmajorWater andDrainage
GeneralServiceProjectsFundsWastewaterUtilityTotal
Receivables:
Accounts352,832$ -$ -$ -$ 1,577,312$ 101,319$ 2,031,463$
Taxes130,650 33,996 - - - - 164,646
Due from other
governments475,390 2,923 20,057 446,254 - - 944,624
7,55385,444 43,716 51,706 162,343 10,480 361,242
Accrued interest
Gross receivables1,044,316 44,472 63,773 497,960 1,739,655 111,799 3,501,975
Less: allowance for
( -282,009) - - 23,135)( - 305,144)(
uncollectibles
$ 44,472762,307$ 63,773$ 497,960$ 1,716,520$ 111,799$ 3,196,831$
Net total receivables
Governmental funds report deferred revenue in connection with receivables for revenue that is
not considered to be available to liquidate liabilities of the current period. Governmental funds
also defer revenue recognition in connection with resources that have been received, but not yet
earned. At the end of the current fiscal year, the various components of deferred revenue and
unearned revenue reported in the governmental funds were as follows:
UnavailableUnearned
General Fund
Delinquent property taxes receivable130,650$ -$
53,376 -
Other
184,026 -
Total General Fund
Debt Service Fund
33,996 -
Delinquent property taxes receivable
33,996 -
Total Debt Service Fund
$ 218,022 -$
Total Governmental Funds
The City’s property tax is levied each October 1 on the assessed value listed as of the prior
January 1 for all real property and certain personal property located in the City. Tax liens attach
as of January 1. The assessed value, net of exemptions, upon which the fiscal 2007 levy was
based, was $3,087,318,586.
Property taxes are limited by the Texas constitution to $2.50 per $100 of assessed valuation and
by City Charter to $1.50 per $100 valuation. Also, the tax rate set per budget year shall not
result in property tax revenue increase greater than seven percent of the total property tax
revenue collected in the preceding budget year, adjusted for new construction, unless authorized
by the voters of the City at a special election. The combined tax rate to finance general
governmental service and debt service for the year ended September 30, 2007, was $.3474 per
$100 of assessed valuation.
(continued)
56
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Receivables
(Continued)
Taxes are due by January 31 following the levy date. Tax collections, including related penalties
and interest, for the year ended September 30, 2007. Property taxes receivable at
September 30, 2007, were $164,646.
The appraisal of property within the City is the responsibility of a countywide appraisal district
as required by legislation passed by the Texas Legislature. The appraisal district is required
under such legislation to assess all property within the appraisal district on the basis of 100% of
its appraised value and is prohibited from applying any assessment ratios. The value of property
within the appraisal district must be reviewed every three years; however, the City may, at its
own expense, require annual reviews of appraised values. The City may challenge appraised
values established by the appraisal district through various appeals and, if necessary, legal action.
Capital Assets
Capital asset activity for the year ended September 30, 2007, was as follows:
Primary Government
BeginningEnding
BalanceIncreasesDecreasesBalance
Governmental activities:
Capital assets, not being depreciated:
Land$ 1,012,5818,166,060$ -$ 9,178,641$
7,079,5466,111,505 2,970,875)( 10,220,176
Construction in progress
8,092,12714,277,565 2,970,875)( 19,398,817
Total assets not being depreciated
Capital assets, being depreciated:
Buildings and improvements31,917,131 1,092,442 - 33,009,573
Machinery and equipment 264,9806,453,615 41,028)( 6,677,567
3,943,66062,994,921 - 66,938,581
Infrastructure
5,301,082101,365,667 41,028)( 106,625,721
Total capital assets being depreciated
Less accumulated depreciation:
Buildings and improvements5,646,940 1,009,771 - 6,656,711
Machinery and equipment 448,7764,920,702 41,028)( 5,328,450
1,339,37212,307,466 - 13,646,838
Improvements other than buildings
2,797,91922,875,108 41,028)( 25,631,999
Total accumulated depreciation
2,503,16378,490,559 - 80,993,722
Total capital assets being depreciated, net
Governmental activities capital
$ 10,595,29092,768,124$ 2,970,875)$( 100,392,539$
assets, net
(continued)
57
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Capital Assets
(Continued)
BeginningEnding
BalanceIncreasesDecreasesBalance
Business-type activities:
Capital assets, not being depreciated:
Land$ -313,057$ -$ 313,057$
5,382,884797,241 63,974 6,116,151
Construction in progress
5,382,8841,110,298 63,974 6,429,208
Total assets not being depreciated
Capital assets, being depreciated:
Buildings and improvements53,922 - - 53,922
Machinery and equipment 109,0341,042,720 - 1,151,754
1,745,43452,343,136 - 54,088,570
Improvements other than buildings
1,854,46853,439,778 - 55,294,246
Total capital assets being depreciated
Less accumulated depreciation:
Buildings and improvements43,913 817 - 44,730
Machinery and equipment 85,2812,127,546 - 2,212,827
1,391,78416,702,065 - 18,093,849
Improvements other than buildings
1,477,88218,873,524 - 20,351,406
Total accumulated depreciation
376,58634,566,254 - 34,942,840
Total capital assets being depreciated, net
$ 5,759,47035,676,552$ 63,974$ 41,372,048$
Business-type activities capital assets, net
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government$ 186,180
Community development53,168
Fire and rescue259,479
Leisure services607,160
Maintenance18,900
Municipal court8,861
Police259,683
1,404,488
Streets and drainage
$ 2,797,919
Total depreciation expense - governmental activities
Business-type activities:
Water and wastewater$ 1,372,701
105,181
Drainage utility
$ 1,477,882
Total depreciation expense - business-type activities
(continued)
58
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Capital Assets
(Continued)
Construction Commitments
The government has active construction projects as of September 30, 2007. The major projects
are listed as follows:
Remaining
ProjectSpent-to-dateCommitment
Castleton Trail160,555$ 73,843$
McPherson Park 540,8711,260,876
Fire stations3,528,286 1,067,253
1,189,2271,276,730
Glade Road
$ 2,871,1946,226,447$
Total
Utility Fund
$ 4,336,3012,445,699$
L.D. Lockett Ground Storage Tank
Interfund Receivables, Payables and Transfers
The composition of interfund balances as of September 30, 2007, is as follows:
Interfund Transfers
Transfer In
Nonmajor
DebtCapitalGovernment
GeneralServiceProjectsFundsTotal
Transfer Out:
General -$ -$ 244,919$ 187,000$ 431,919$
Nonmajorgovernmental - 520,760 - 20,390 541,150
664,085 - - - 664,085
Water and wastewater
$ 664,085 520,760$ 244,919$ 207,390$ 1,637,154$
Total Transfers Out
The transfer of $664,085 from the Utility Fund to the General Fund represents the 2007
Administrative transfer and the franchise fee based on gross water and wastewater revenue of the
prior year’s audited financial statements. The transfer of $431,919 from the General Fund to the
Capital Projects and nonmajor governmental funds represents transfers for capital replacement.
The remaining transfer of $520,760 from the Crime District to the Debt Service Fund is for the
repayment of debt. All principal and interest is paid from the Debt Service Fund’s bank account.
(continued)
59
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Capital Leases
The City has entered into a lease agreement as lessee for financing and acquisition of equipment
for the Fire Department. This lease agreement qualifies as a capital lease for accounting
purposes and, therefore, has been recorded at the present value of its future minimum lease
payments as of the inception date.
The assets acquired through capital leases are as follows:
GovernmentalBusiness-type
ActivitiesActivities
Asset:
Machinery and equipment$ 71,077505,431$
(126,098) 25,026)(
Less: accumulated depreciation
$ 379,333 46,051$
Total
The future minimum lease obligations and the net present value of these minimum lease
payments as of September 30, 2007, were as follows:
GovernmentalBusiness-type
ActivitiesActivities
200874,046$ 14,479$
200949,723 -
201049,723 -
201149,723 -
198,889 -
2012-2015
Total minimum lease payments422,104 14,479
72,915 686
Less: amount representing interest
$ 349,189 13,793$
Present value of minimum lease payments
Long-term Liabilities
General Obligation Bonds
The government issues general obligation bonds to provide funds for the acquisition and
construction of major capital facilities. General obligation bonds have been issued for
governmental activities. The original amount of general obligation bonds issued in prior years
was $26,530,000.
(continued)
60
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Long-term Liabilities
(Continued)
General obligation bonds are direct obligations and pledge the full faith and credit of the
government. These bonds generally are issued as 20-year serial bonds with equal amounts of
principal maturing each year. General obligation bonds currently outstanding are as follows:
PurposeInterest RatesAmount
$ 28,142,462
Governmental activities3.6 - 6%
$ 28,142,462
Long-term liability activity for the year ended September 30, 2007, was a follows:
BalanceBalanceAmounts
October 1,September 30,Due Within
2006AdditionsRetirements2007One Year
Governmental activities
General obligation bonds and
certificates of obligation10,665,000$ 9,470,000$ 2,365,000$ 17,770,000$ 1,495,000$
Sales tax revenue bonds14,794,008 - 4,421,546 10,372,462 576,546
Line of credit- 420,000 - 420,000 420,000
Capital lease obligations404,395 - 55,206 349,189 57,790
451,672523,823 414,075 561,420 112,284
Compensated absences
10,341,67226,387,226 7,255,827 29,473,071 2,661,620
Total governmental activities
Business-type activities
Revenue bonds and certificates
of obligation9,730,000 - 985,000 8,745,000 865,000
Capital lease obligation26,933 - 13,140 13,793 13,793
-71,559 367 71,192 14,312
Compensated absences
-9,828,492 998,507 8,829,985 893,105
Total business-type activities
$ 10,341,67236,215,718$ 8,254,334$ 38,303,056$ 3,554,725$
Total primary government
Component unit:
Tax Increment Financing Fund
$ -8,315,000$ 1,175,000$ 7,140,000$ 410,000$
Revenue Bonds
$ -8,315,000$ 1,175,000$ 7,140,000$ 410,000$
Total component unit
For the governmental activities, compensated absences are generally liquidated by the General
Fund.
(continued)
61
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Long-term Liabilities
(Continued)
Governmental activities long-term liabilities at September 30, 2007, consisted of the following:
General obligation bonds and certificates of obligation serviced by property tax revenue:
,,ereseneragatoneunnganmprovemen
$4515000Si1994GlObliiRfdidIt
Bondsdueinannualinstallmentsof$115,000to$405,000through
February 1, 2013; interest at 3.60% to 5.60%.125,000$
,ereseneragatononsuenannua
$500000Si1999GlObliiBddil
installmentsof$5,000to$40,000throughFebruary15,2019;interestat
4.00% to 6.00%.75,000
,,ereseneragatononsuenannua
$9045000Si2001GlObliiBddil
installmentsof$55,000to$1,030,000throughFebruary15,2014;
interest at 4.00% to 4.60%.5,830,000
$3,000,000Series2002TaxandWaterworksandSewerSystemSurplus
RevenueCertificatesofObligationBondsdueinannualinstallmentsof
$110,000to$170,000throughFebruary15,2020;interestat4.20%to
4.70%.2,270,000
,,ereseneragatoneunngonsuen
$4895000Si2006GlObliiRfdibddi
annualinstallmentsof$25,000to$540,000throughFebruary15,2019;
interest at 3.64%.4,895,000
4,575,000eres2007eneragatonBonsuenannua
$SiGlObliiddil
installmentsof$50,000to$555,000throughFebruary15,2027;interest
at 4.00% to 5.00%.
4,575,000
$ 17,770,000
Total General Obligation Bonds and Certificates of Obligation
$7,170,000Series1999TexasTaxandWaterworksandSewerSystem
CertificatesofObligationdueinannualinstallmentsof$5,000to
$565,000 through February 15, 2019; interest at 3.60% to 5.60%.960,000$
$2,122,722Series2000ColleyvilleEconomicDevelopmentCorporation
SalesTaxRevenueBondsdueinannualinstallmentsthroughFebruary
15, 2009; interest at 5.50% to 6.250%.60,000
$9,570,000Series2005ColleyvilleEconomicDevelopmenCorporation
t
RefundingandImprovementSalesTaxRevenueBondsdueinannual
installmentsof$20,000to$635,000throughFebruary15,2029;interest
at 4.10%9,320,000
Unamortized gain on refunding32,462
Total Revenue Bonds10,372,462$
(continued)
62
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Long-term Liabilities
(Continued)
The funds utilized for the repayment of long-term liabilities for governmental activities are the
Debt Service Fund, the Crime District Fund and the Colleyville Economic Development
Corporation.
Advance Refundings
The government issued $4,895,000 of general obligation refunding bonds to provide resources to
purchase U. S. Government State and Local government Series securities that were placed in an
irrevocable trust for the purpose of generating resources for all future debt service payments of
$4,835,000 of general obligation bonds. As a result, the refunded bonds are considered to be
defeased and the liability has been removed from the governmental activities column of the
statement of net assets. The reacquisition price exceeded the net carrying amount of the old debt
by $186,334. This amount is being netted against the new debt and amortized over the remaining
life of the refunded debt, which is shorter than the life of the new debt issued. This advance
refunding was undertaken to reduce total debt service payments over the next 12 years by
$338,882 and resulted in an economic gain of $293,916.
The City’s defeased debt as of September 30, 2007, was $8,250,000.
Business-type activities long-term liabilities at September 30, 2007, consisted of the following:
Water and Wastewater Fund:
$4,220,000Series1996WaterworksandWastewaterSystemRevenue
andRefundingBondsdueinannualinstallmentsof$100,000to
$335,000 through January 1, 2017; interest at 3.75% to 5.60%.1,640,000$
$2,825,000Series1998WaterworksandWastewaterSystemRevenue
Bondsdueinannaulinstallmentsof$85,000to$220,000through
January 1, 2018; interest at 4.25% to 6.75%.1,880,000
$2,580,000Series2002WaterworksandWastewaterSystemRevenue
Bondsdueinannualinstallmentsof$130,000to$255,000through
January 1, 2015; interest at 2.00% - 4.00%.1,775,000
1,710,000eres2004WaterworsanWastewateysteReunng
$SikdrSmfdi
Bondsdueinannualinstallmentsof$150,000to$195,000through
January 1, 2014; interest at 3.73%.
1,245,000
$ 6,540,000
Total Water and Wastewater Fund
Drainage Utility Fund:
3,025,000eres2001MuncpaDranageUttyysteRevenue
$SiiiliiliSm
Bondsdueinannualinstallmentsof$85,000to$220,000through
February 15, 2021; interest at 4.00% to 5.00%.
$ 2,205,000
Total Drainage Utility Fund2,205,000$
Total Business-type activities8,745,000$
(continued)
63
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Long-term Liabilities
(Continued)
The ordinances authorizing the issuance of Waterworks and Wastewater System Revenue Bonds
created the Interest and Sinking Fund and Reserve Fund. The gross revenue of the waterworks
and wastewater system, after deduction of reasonable expenses of operations and maintenance,
are pledged to such funds in amounts equal to the total annual principal and interest requirements
of the bonds and amounts required to maintain the Reserve Fund. At September 30, 2007, the
City was in compliance with these requirements.
The City’s component unit, the Tax Increment Financing District, long-term liabilities at
September 30, 2007, consisted of the following:
Tax Increment Financing District
,eresaxanaxncremenevenueertcateso
$680000Si2002TdTItRCifif
Obligationdueininstallmentsof$25,000to$40,000beginningin2004
through February 2012; interest at 4.00% to 5.00%.570,000$
$7,285,000Series2001Taxotesdueininstallmentsof$350,000to
N
$660,000beginningin2006throughFebruary15,2020;interestat
4.30% to 5.00%.
6,570,000
Total Tax Increment Financing Distric$ 7,140,000
t
Governmental Activities
General
Obligation Bonds and
Certificates of ObligationRevenue Bonds
September 30,PrincipalInterestPrincipalInterest
20081,495,000$ 772,196$ 575,000$ 414,186$
20091,610,000 624,101 595,000 389,320
20101,365,000 562,454 625,000 363,493
20111,780,000 497,873 300,000 344,195
20121,605,000 428,856 315,000 331,587
2013-20174,560,000 1,469,653 1,790,000 1,448,530
2018-20222,830,000 741,890 2,195,000 1,041,708
2023-20272,525,000 262,500 2,700,000 541,610
-- 1,245,000 51,558
2028-2029
$17,770,000 5,359,523$ 10,340,000$ 4,926,187$
(continued)
64
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Long-term Liabilities
(Continued)
Business-type Activities
Revenue Bonds
September 30,PrincipalInterest
2008865,000$ 369,465$
2009810,000 335,902
2010855,000 302,203
2011885,000 206,102
2012935,000 227,654
2013-20173,695,000 554,777
700,000 54,975
2018-2021
$ 8,745,000 2,051,078$
Discretely Presented Component Unit -
Tax Increment Financing Fund
Revenue Bonds
September 30,PrincipalInterest
2008410,000$ 327,660$
2009430,000 308,665
2010450,000 289,209
2011470,000 269,179
2012490,000 247,718
2012-20162,835,000 866,927
2,055,000 157,367
2017-2018
$ 7,140,000 2,466,725$
(continued)
65
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Employees’ Retirement System
Plan Description
The City provides pension benefits for all of its fulltime employees through a nontraditional,
joint contributory, hybrid defined benefit plan in the statewide Texas Municipal Retirement
System (TMRS), one of 821 administered by TMRS, an agent multiple-employer public
employee retirement system.
Benefits depend upon the sum of the employee’s contributions to the plan, with interest, and the
City-financed monetary credits, with interest. At the date the plan began, the City granted
monetary credits for service rendered before the plan began of a theoretical amount equal to two
times what would have been contributed by the employee, with interest, prior to establishment of
the plan. Monetary credits for service since the plan began are a percent (100%, 150%, or 200%)
of the employee’s accumulated contributions. In addition, the City can grant, as often as
annually, another type of monetary credit referred to as an updated service credit which is a
theoretical amount which, when added to the employee’s accumulated contributions and the
monetary credits for service since the plan began, would be the total monetary credits and
employee contributions accumulated with interest if the current employee contribution rate and
City matching percent had always been in existence and if the employee’s salary had always
been the average of his salary in the last three years that are one year before the effective date.
At retirement, the benefit is calculated as if the sum of the employee’s accumulated contributions
with interest and the employer-financed monetary credits with interest were used to purchase an
annuity.
Members can retire at ages 60 and above with 5 or more years of service or with 20 years of
service regardless of age. A member is vested after 5 years. The plan provisions are adopted by
the governing body of the City, within the options available in the state statutes governing TMRS
and within the actuarial constraints also in the statutes.
TMRS issues a publicly available annual financial report that includes financial statements and
required supplementary information. The report may be obtained by writing to TMRS, P. O.
Box 149153, Austin, Texas 78714-9153.
(continued)
66
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Contributions
The contribution rate for the employees is 7%, and the City matching percent is currently 200%,
both as adopted by the governing body of the City. Under the state law governing TMRS, the
actuary annually determines the City contribution rate. This rate consists of the normal cost
contribution rate and the prior service cost contribution rate, both of which are calculated to be a
level percent of payroll from year to year. The normal cost contribution rate finances the
currently accruing monetary credits due to the City matching percent, which are the obligation of
the City as of an employee’s retirement date, not at the time the employee’s contributions are
made. The normal cost contribution rate is the actuarially determined percent of payroll
necessary to satisfy the obligation of the City to each employee at the time his/her retirement
becomes effective. The prior service contribution rate amortizes the unfunded (overfunded)
actuarial liability (asset) over the remainder of the plan’s 25-year amortization period. The unit
credit actuarial cost method is used for determining the City contribution rate. Contributions are
made monthly by both the employees and the City. Since the City needs to know its contribution
rate in advance for budgetary purposes, there is a one-year delay between the actuarial valuation
that serves as the basis for the rate and the calendar year when the rate goes into effect.
Schedule of Actuarial Liabilities and Funding Progress
Actual valuation date12/31/0612/31/0512/31/04
Actuarial value of assets20,045,209$ 19,145,328$ 17,670,462$
Actuarial accrued liability 21,072,68422,297,535 19,579,931
Percentage funded89.9% 90.9% 90.2%
Unfunded(over-funded)
actuarial accrued liability(UAAL) 1,927,3562,252,326 1,909,469
Annual covered payroll8,175,810 7,757,593 7,145,708
UAAL as a percentage of covered payroll27.5% 24.8% 26.7%
Netpension obligation
(NPO) at the beginning of period- - -
Annual Pension Cost:
Annual required contribution (ARC) 1,012,1521,021,354 1,010,830
Contributions made1,021,354 1,012,152 1,010,830
Increase in NPO- - -
NPO at the end of period- - -
Actuarial Assumptions
Actuarial Cost Method-Unit Credi
t
Amortization Method-Level ercent of Paroll
py
Remainin Amortization Period-25 Years - Oen Period
gp
Asset Valuation Method-Amortized Cost to accuratel reflec
(yt
the reuirements of GASB Statemen
qt
No. 25ararahs 36e and 138
,pgp)
Investment Rate of Retur-7%
n
Proected Salar Increases-None
jy
Includes Inflation A-3.5%
t
Cost-of-Livin Adustments-None
gj
(continued)
67
4. DETAILED NOTES ON ALL FUNDS
(Continued)
Water and Wastewater Contracts
The City has two contracts with the Trinity River Authority of Texas (TRA) for the purchase of
treated water and for the transportation, treatment and disposal of sanitary sewage and other waste.
The initial terms of the contracts are 35 and 50 years, and they expire in 2015 and 2025. While the
provisions of each of the contracts vary, each contract basically requires the City to pay varying
amounts based on the costs associated with water purchased and sewage transported and/or treated
and disposed. The cost includes the City’s proportionate share of TRA’s operating and
maintenance expenses, related debt service costs, and certain other miscellaneous charges.
Purchases of treated water and charges for the transportation, treatment and disposal of sewage and
other wastes during 2007 amounted to approximately $4,434,292 and $1,150,389 respectively.
Advances from Developers
Developers are required by ordinance to construct perimeter streets and related storm drainage
facilities. The developer may request a waiver from the Council for the construction
requirements and instead deposit escrow funds with the City equal to one-half of the estimated
cost of construction, which are utilized by the City to complete the project at some later date. At
September 30, 2007, developers had escrowed $122,035 with the City in connection with
developer agreements.
Contingent Liabilities
The City has been named as a defendant or co-defendant in a number of legal actions. While the
outcome of these cases is not known at this time, City management believes that any awards to
insured parties which must be paid in excess of amounts covered by insurance will not be
material to the financial position of the City.
Risk Financing and Insurance
The City is exposed to various risks of loss related to torts, theft of, damage to, and destruction
of assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal
year 1974, the City joined the Texas Municipal League Workers Compensation Joint Insurance
Fund for risks related to employees. During the fiscal year 1992, the City joined the Texas
Municipal League Joint Insurance Fund for risks related to general liability, property and errors
and omissions. Premiums are paid to the Pool, which retains a limit of loss. Reinsurance
companies insure the risks beyond those limits. The City retains, as a risk, only the deductible
amount of each policy. There have been no significant reductions in insurance coverage and no
settlements exceeded insurance coverage in the past three fiscal years.
68
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for specific revenues that are legally restricted to
expenditure for particular purposes.
Voluntary Park–This fund is used to account for the operations for which voluntary
contributions by citizens are used. Contributions are used primarily to support park
activities.
Voluntary Library – This fund is used to account for the operations for which voluntary
contributions by citizens are used. Contributions are used primarily to support library
activities.
Police Asset Forfeiture –This fund is used to account for activity related to seizure of assets
in criminal-related activities.
Tree Preservation–This fund is used to account for operations related to replacement of
trees, which are eliminated due to commercial development. Contributions are received from
entities that are developing the property.
Library Donation – This fund is used to account for private and corporate donations for
capital purchases related to the new library building for the City.
Recreational Event – This fund is used to account for activities related to athletic events for
the City.
Community Development Center – This fund is used to account for contributions received to
construct a community center.
Recycling – This fund is used to account for the promotion of recycling activities in the City
of Colleyville. Contributions are received from the holder of the City’s recycling franchise.
69
LEOSE (Law Enforcement Officer Standards and Education) – This fund is used to account
for activities related to the continuing education of qualified law enforcement officers as funded
by the State of Texas LEOSE Account.
Colleyville Economic Development – This fund is used to account for the use of bond proceeds
and sales tax revenues for municipal park improvements, the purchase of land and equipment for
additional neighborhood parks and for the construction of a community center and library.
Crime District –This fund is used to account for the Colleyville Crime Control and Prevention
District formed to act on behalf of the City for financing the development of crime control
throughout the City.
Kidsville Maintenance – This fund is used to account for contributions received for the
maintenance of Kidsville Playground.
Special Donations – This fund is used to account for various donations made to the City for
specific projects.
Court Technology – This fund is used to account for the collection and use of fines collected to
be specifically used on technology for the court.
Court Security – This fund is used to account for the collection and use of fines collected to be
specifically used for security purposes.
TDPA Grant – This fund is used to account for grant proceeds received for the acquisition of
equipment and expenditures relating to fires and rescue.
Cable Equipment – This fund is used to account for the replacement of cable and other
equipment.
Sales Tax Incentive Agreement – This fund is used to account for the repayment of sales tax
incentive agreements.
CAPITAL PROJECTS FUNDS
Capital Projects Funds are used to account for the acquisition and construction of major capital
facilities other than those financed by proprietary funds and trust funds.
Parkland Dedication Fund – This fund is used to account for the acquisition of land for new
park sites and to make improvements to or expand existing parks to better serve new
development. Fees collected from the developers of residential and commercial development
finance the improvements.
Colleyville Economic Development Corporation (CEDC) – This fund is used to account for
financial resources to be used for the acquisition of construction of CEDC capital facilities.
Financing is provided primarily by the revenue from certificate of obligation bonds.
Kimzey Park – This fund is used to account for the construction of Kimzey Park. The source of
funding was a Texas Parks and Wildlife state grant.
70
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71
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUND
S
SEPTEMBER 30, 2007
Special Revenue Funds
VoluntaryPolice Asset
Voluntary ParkLibraryForfeiture
ASSETS
Cash and cash equivalents2,835$ 49,354$ 2,435$
Investments310,994 336,016 -
Due from other governments- - -
3,931 4,633 -
Accrued interest
$ 390,003317,760$ 2,435$
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable-$ -$ -$
Accrued liabilities- - -
-- -
Advances from developers
-- -
Total liabilities
Fund balances:
Special revenue funds317,760 390,003 2,435
-- -
Capital projects
390,003317,760 2,435
Total fund balances
$ 390,003317,760$ 2,435$
Total liabilities and fund balances
72
Special Revenue Funds
Community
TreeLibraryRecreationalDevelopment
PreservationDonationEventCenterRecyclingLEOSE
$ 140,85235,827$ 5,595$ 22,770$ 7,053$ 22,384$
-- - - - -
-- - - - -
-- - - - -
$ 140,85235,827$ 5,595$ 22,770$ 7,053$ 22,384$
$ --$ -$ -$ -$ -$
-- - - - -
-30,623 - - - -
-30,623 - - - -
140,8525,204 5,595 22,770 7,053 22,384
-- - - - -
5,204 140,852 5,595 22,770 7,053 22,384
$ 140,85235,827$ 5,595$ 22,770$ 7,053$ 22,384$
(continued)
73
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUND
S
(Continued)
SEPTEMBER 30, 2007
Special Revenue Funds
Colleyville
EconomicKidsville
DevelopmentCrime DistrictMaintenance
ASSETS
Cash and cash equivalents647,189$ 776,831$ 21,343$
Investments531,279 - -
Due from other governments229,773 184,119 -
5,374 - -
Accrued interest
$ 960,9501,413,615$ 21,343$
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable5,790$ -$ -$
Accrued liabilities- 1,174 -
-- -
Advances from developers
5,790 1,174 -
Total liabilities
Fund balances:
Special revenue funds1,407,825 959,776 21,343
-- -
Capital projects
959,7761,407,825 21,343
Total fund balances
$ 960,9501,413,615$ 21,343$
Total liabilities and fund balances
74
Capital
Special Revenue FundsProject Funds
Sales Tax
SpecialCourtCourtTDPACableIncentiveParkland
DonationsTechnologySecurityGrantEquipmentAgreementDedication
$ 55,89312,487$ 63,350$ -$ 286,102$ 1,143,580$ 268,964$
-- - - - - 1,880,400
-- - - - - 32,362
- - - - - 37,768
$ 55,89312,487$ 63,350$ -$ 286,102$ 1,143,580$ 2,219,494$
$ --$ -$ -$ -$ 50,000$ 63,044$
-- - - - - -
- - - - - -
- - - - 50,000 63,044
55,89312,487 63,350 - 286,102 1,093,580 -
- - - - - 2,156,450
55,89312,487 63,350 - 286,102 1,093,580 2,156,450
$ 55,89312,487$ 63,350$ -$ 286,102$ 1,143,580$ 2,219,494$
(continued)
75
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUND
S
(Continued)
SEPTEMBER 30, 2007
Capital Project Funds
Total
CEDC Capital Governmental
ProjectKimzey ParkFunds
ASSETS
Cash and cash equivalents604,610$ 10,821$ 4,180,275$
Investments- - 3,058,689
Due from other governments- - 446,254
-- 51,706
Accrued interest
$ 10,821604,610$ 7,736,924$
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable-$ -$ 118,834$
Accrued liabilities- - 1,174
-- 30,623
Advances from developers
-- 150,631
Total liabilities
Fund balances:
Special revenue funds- - 4,814,412
10,821604,610 2,771,881
Capital projects
10,821604,610 7,586,293
Total fund balances
$ 10,821604,610$ 7,736,924$
Total liabilities and fund balances
76
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77
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2007
Special Revenue Funds
VoluntaryVoluntaryPolice Asset
ParkLibraryForfeiture
REVENUES
Taxes-$ -$ -$
Fees and fines- - -
Intergovernmental- - -
Charges for services143,648 - -
Donations- 133,902 -
Investment earnings25,107 17,839 -
-- -
Miscellaneous
151,741168,755 -
Total revenues
EXPENDITURES
Current:
General government- - -
Community development and engineering- - -
Fire and rescue- - -
Leisure services19,839 104,614 -
Municipal court- - -
Police- - -
Principal- - -
Interest and other charges- - -
-603,024 -
Capital outlay
104,614622,863 -
Total expenditures
EXCESS(DEFICIENCY) OF REVENUES
( 47,127454,108) -
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Sale of capital assets- - -
Transfers in- - -
-- -
Transfers out
-- -
Total other financing sources and uses
NET CHANGE IN FUND BALANCES( 47,127454,108) -
342,876771,868 2,435
FUND BALANCES, BEGINNING
$ 390,003317,760$ 2,435$
FUND BALANCES, ENDING
78
Special Revenue Funds
Community
TreeLibraryRecreationalDevelopment
PreservationDonationEventCenterRecyclingLEOSE
$ --$ -$ -$ -$ -$
-- - - - -
4,361- - - - -
-- - - - -
40,082- - 2,603 - -
-- - - - -
-- - - 16,000 3,737
44,443- - 2,603 16,000 3,737
-- - - 13,980 -
-- - - - -
-- - - - -
48,054- - 2,658 - -
-- - - - -
-- - - - 959
-- - - - -
-- - - - -
-- - - - -
48,054- - 2,658 13,980 959
3,611)-( - 55)( 2,020 2,778
-- - - - -
20,390- - - - -
-- - - - -
20,390- - - - -
16,779- - 55)( 2,020 2,778
5,204 124,073 5,595 22,825 5,033 19,606
$ 5,204 140,852$ 5,595$ 22,770$ 7,053$ 22,384$
(continued)
79
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
FOR THE YEAR ENDED SEPTEMBER 30, 2007
Special Revenue Funds
Colleyville
EconomicKidsville
DevelopmentCrime DistrictMaintenance
REVENUES
Taxes1,208,379$ 1,045,302$ -$
Fees and fines- - -
Intergovernmental- - -
Charges for services- - -
Donations- - -
Investment earnings61,472 16,912 -
-- -
Miscellaneous
1,062,2141,269,851 -
Total revenues
EXPENDITURES
Current:
General government- - -
Community development and engineering- - -
Fire and rescue- - -
Leisure services211,669 - -
Municipal court- - -
Police- 161,446 -
Principal255,000 - -
Interest and other charges391,366 - -
164,444439,202 -
Capital outlay
325,8901,297,237 -
Total expenditures
EXCESS(DEFICIENCY) OF REVENUES
( 736,32427,386) -
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Sale of capital assets- 8,800-
Transfers in- - -
520,760)-( -
Transfers out
511,960)-( -
Total other financing sources and uses
NET CHANGE IN FUND BALANCES( 224,36427,386) -
735,4121,435,211 21,343
FUND BALANCES, BEGINNING
$ 959,7761,407,825$ 21,343$
FUND BALANCES, ENDING
80
Capital
Special Revenue FundsProject Funds
Sales Tax
SpecialCourtCableIncentiveParkland
DonationsTechnologyCourt SecurityTDPA GrantEquipmentAgreementDedication
$ --$ -$ -$ -$ -$ -$
32- 24946 -702 - - -
,,
-- - - - - -
-- - - - - -
-21,255 - - - - 537,914
-- - - - 58,880 108,383
-- - - - - -
21,255 32,946 24,702 - - 58,880 646,297
-- - - - - -
-- - - - 50,000 -
-875 - - - - -
-9,895 - - - - -
9,019- 9,502 - - - -
-3,278 - - - - -
-- - - - - -
-- - - - - -
-- - - - - 332,547
14,048 9,019 9,502 - - 50,000 332,547
7,207 23,927 15,200 - - 8,880 313,750
-- - - - - -
-- - - 187,000 - -
-- - - - - -
-- - - 187,000 - -
23,9277,207 15,200 - 187,000 8,880 313,750
5,280 31,966 48,150 - 99,102 1,084,700 1,842,700
$ 12,487 55,893$ 63,350$ -$ 286,102$ 1,093,580$ 2,156,450$
(continued)
81
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
FOR THE YEAR ENDED SEPTEMBER 30, 2007
Capital Project Funds
Total
CEDC Capital Governmental
ProjectKimzey ParkFunds
REVENUES
Taxes-$ -$ 2,253,681$
Fees and fines- - 57648
,
Intergovernmental- - 4,361
Charges for services- - 143,648
Donations- - 735,756
Investment earnings24,646 - 313,239
- - 19,737
Miscellaneous
-24,646 3,528,070
Total revenues
EXPENDITURES
Current:
General government- - 13,980
Community development and engineering- - 50,000
Fire and rescue- - 875
Leisure services6,817 3,915 407,461
Municipal court- - 18,521
Police- - 165,683
Principal- - 255,000
Interest and other charges- - 391,366
-132,641 1,671,858
Capital outlay
3,915139,458 2,974,744
Total expenditures
EXCESS(DEFICIENCY) OF REVENUES
( 3,915)114,812)( 553,326
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Sale of capital assets- - 8,800
Transfers in- - 207,390
( -20,390) 541,150)(
Transfers out
( -20,390) 324,960)(
Total other financing sources and uses
NET CHANGE IN FUND BALANCES( 3,915)135,202)( 228,366
14,736739,812 7,357,927
FUND BALANCES, BEGINNING
$ 10,821604,610$ 7,586,293$
FUND BALANCES, ENDING
82
CITY OF COLLEYVILLE, TEXAS
DEBT SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2007
Variance with
Budget -
Positive
BudgetActual(Negative)
REVENUES
Taxes1,884,962$ 2,008,234$ 123,272$
57,24132,000 25,241
Investment earnings
2,065,4751,916,962 148,513
Total revenues
EXPENDITURES
Debt service:
Principal retirement1,750,204 1,750,204 -
637,692687,519 49,827
Interest and fiscal charges
2,387,8962,437,723 49,827
Total expenditures
EXCESS(DEFICIENCY) OF REVENUES
( 322,421)520,761)( 198,340
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES
Proceeds from long-term debt, net- 4,895,000 4,895,000
Payment to refunded bond escrow agent- 4,921,334)( 4,921,334)(
520,760520,761 1)(
Transfers in
494,426520,761 26,335)(
Total other financing sources
NET CHANGE IN FUND BALANCE 172,005- 172,005
1,082,6811,082,681 -
FUND BALANCE, BEGINNING
$ 1,254,6861,082,681$ 172,005$
FUND BALANCE, ENDING
83
AGENCY FUNDS
Employee ActivityFund – This fund is used to account for funds held by the City for the benefit
of employees of the City.
SesquicentennialFund – This fund is used to account for funds held by the city for the benefit
of the City of Colleyville’s historical purposes.
84
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF FIDUCIARY NET ASSETS
AGENCY FUNDS
SEPTEMBER 30, 2007
Employee
ActivitySesquicentennial
FundFundTotal
ASSETS
$ 2,570 17,484$ 20,054$
Cash and cash equivalents
$ 2,570 17,484$ 20,054$
Total assets
LIABILITIES
$ 2,570 17,484$ 20,054$
Due to other agencies and individuals
$ 2,570 17,484$ 20,054$
Total liabilities
85
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES
AGENCY FUNDS
YEAR ENDED SEPTEMBER 30, 2007
Employee Activity Fund
Balance Balance
10/01/06AdditionsDeletions09/30/07
$ 1,712$ 3,097 2,239$ 2,570$
Cash and cash equivalents
$ 1,712 3,097$ 2,239$ 2,570$
Total assets
$ 1,712 3,097$ 2,239$ 2,570$
Due to other agencies and individuals
$ 1,712 3,097$ 2,239$ 2,570$
Total liabilities
Sesquicentennial Fund
Balance Balance
10/01/06AdditionsDeletions09/30/07
$ 13,653$ 4,021 190$ 17,484$
Cash and cash equivalents
$ 13,653 4,021$ 190$ 17,484$
Total assets
$ 13,653 4,021$ 190$ 17,484$
Due to other agencies and individuals
$ 13,653 4,021$ 190$ 17,484$
Total liabilities
Total Agency Funds
Balance Balance
10/01/06AdditionsDeletions09/30/07
$ 15,365$ 7,118 2,429$ 20,054$
Cash and cash equivalents
$ 15,365 7,118$ 2,429$ 20,054$
Total assets
$ 15,365 7,118$ 2,429$ 20,054$
Due to other agencies and individuals
$ 15,365 7,118$ 2,429$ 20,054$
Total liabilities
86
STATISTICAL SECTION
This part of the City of Colleyville, Texas’ comprehensive annual financial report
presents detailed information as a context for understanding what the information in the
financial statements, note disclosures, and required supplementary information says about
the government’s overall financial health.
Contents Page
Financial Trends 89
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 96
These schedules contain information to help the reader assess the
government’s most significant local revenue source, the property
tax.
Debt Capacity 101
These schedules present information to help the reader assess the
affordability of the government’s current levels of outstanding debt
and the government’s ability to issue additional debt in the future.
Demographic and Economic Information 107
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 109
These schedules contain service and infrastructure data to help the
reader understand how the information in the government’s financial
report relates to the services the government provides and the
activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the
comprehensive annual financial reports for the relevant year.
87
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88
TABLE 1
CITY OF COLLEYVILLE, TEXAS
NET ASSETS BY COMPONENT
(Accrual Basis of Accounting)
20032004200520062007
Governmental activities:
Invested in capital assets, net of related debt55,965,990$ 60,055,616$ 60,884,756$ 66,991,146$ 71,824,719$
Restricted1,040,403 756,516 896,130 937,578 1,032,586
15,646,259 15,948,497 19,132,376 19,002,816 21,987,778
Unrestricted
$ 72,652,652 76,760,629$ 80,913,262$ 86,931,540$ 94,845,083$
Total governmental activities net assets
Business-type activities:
Invested in capital assets, net of related debt22,588,864$ 23,957,432$ 24,827,365$ 25,919,619$ 32,804,703$
Restricted668,120 668,239 670,571 882,821 1,080,751
14,502,121 15,470,275 16,374,236 19,253,772 13,626,274
Unrestricted
$ 37,759,105 40,095,946$ 41,872,172$ 46,056,212$ 47,511,728$
Total business-type activities net assets
Primary government:
Invested in capital assets, net of related debt78,554,854$ 84,013,048$ 85,712,121$ 92,910,765$ 104,629,422$
Restricted1,708,523 1,424,755 1,566,701 1,820,399 2,113,337
30,148,380 31,418,772 35,506,612 38,256,588 35,614,052
Unrestricted
$ 110,411,757 116,856,575$ 122,785,434$ 132,987,752$ 142,356,811$
Total primary government net assets
89
TABLE 2
CITY OF COLLEYVILLE, TEXA
S
CHANGES IN NET ASSETS
(Accrual Basis of Accounting)
20032004200520062007
EXPENSES
Governmental activities:
General government1,551,989$ 2,542,016$ 2,245,964$ 2,729,064$ 2,438,051$
Community Development and Engineering1,280,410 1,281,429 1,164,345 1,267,136 1,523,768
Fire and rescue3,010,260 3,144,814 3,325,103 3,814,585 3,790,831
Leisure services2,728,287 2,953,528 2,923,958 3,513,992 3,525,094
Maintenance193,865 364,256 364,434 383,504 434,984
Municipal court235,053 250,551 238,874 270,345 262,198
Police3,498,419 3,295,263 3,533,083 3,801,644 4,232,185
Streets and drainage2,195,256 2,562,499 2,970,475 2,932,465 2,890,995
1,491,649 1,290,825 1,190,857 1,142,043 1,032,374
Interest on long-term debt
17,685,18116,185,188 17,957,093 19,854,778 20,130,480
Total governmental activities expenses
Business-type activities:
Water and wastewater7,704,603 7,850,570 8,962,630 9,428,373 9,337,282
Drainage354,960 517,713 550,005 548,963 671,773
601,560 - - 440,703 400,752
Interest on long-term debt
8,661,123 8,368,283 9,512,635 10,418,039 10,409,807
Total business-type activities expenses
$ 26,053,46424,846,311$ 27,469,728$ 30,272,817$ 30,540,287$
Total primary government program expenses
PROGRAM REVENUES
Governmental activities:
Charges for services:
General government18,000$ 16,000$ 6,000$ 6,000$ 6,000$
Community Development and Engineering1,242,838 1,687,921 1,515,052 2,163,596 1,454,744
Fire and rescue104,990 125,081 136,498 239,386 303,868
Leisure services394,098 399,319 386,658 448,606 424,024
Municipal court510,544 508,572 492,805 813,781 932,452
Police45,626 66,135 95,234 70,899 81,054
Streets and drainage240,309 512,171 336,111 472,860 355,157
Operating grants and contributions328,324 619,459 523,704 399,819 431,683
8,014,501 3,857,202 3,283,774 4,355,357 5,372,281
Capital grants and contributions
7,791,86010,899,230 6,775,836 8,970,304 9,361,263
Total governmental activities program revenues
Business-type activities:
Charges for services:
Water and wastewater8,595,871 8,924,942 9,856,889 13,187,868 9,127,470
Drainage666,399 677,913 675,045 841,972
1,443,502 1,412,990 844,256 1,100,354 1,561,255
Capital grants and contributions
11,015,84510,705,772 11,376,190 14,288,222 11,530,697
Total business-type activities program revenues
$ 18,807,70521,605,002$ 18,152,026$ 23,258,526$ 20,891,960$
Total primary government program revenues
(continued)
90
TABLE 2
CITY OF COLLEYVILLE, TEXA
S
CHANGES IN NET ASSETS
(Continued
)
(Accrual Basis of Accounting)
20032004200520062007
NETEXPENSE REVENUE
()S
Governmental activities5,285,958)$( 9,893,321)$( 11,181,257)$( 10,884,474)$( 10,769,217)$(
2,647,5622,044,649 1,863,555 3,870,183 1,120,890
Business-type activities
Total primary government
( 7,245,759)3,241,309)( 9,317,702)( 7,014,291)( 9,648,327)(
net expense
GENERAL REVENUES AND OTHER CHANGES IN NET ASSETS
Governmental activities:
Taxes
Property 8,183,790 8,534,388 8,938,888 9,483,546 10,153,775
Franchise 1,395,569 1,458,079 1,477,749 1,790,543 1,779,376
Sales2,964,331 3,381,634 3,801,369 4,355,627 4,674,068
Other32,123 37,296 53,974 76,005 89,132
Investment earnings468,656 217,316 443,570 904,361 1,224,361
Miscellaneous 63,052 53,538 153,947 65,313 97,963
473,3661,058,060 464,393 532,357 664,085
Transfers
14,155,61714,165,581 15,333,890 17,207,752 18,682,760
Total governmental activities
Business-type activities:
Investment earnings282,661 162,645 377,064 846,214 998,710
( 473,366)1,058,060)( 464,393)( 532,357)( 664,085)(
Transfers
(775,399) 310,721)( 87,329)( 313,857 334,625
Total business-type activities
13,844,89613,390,182 15,246,561 17,521,609 19,017,385
Total primary government
CHANGE IN NET ASSETS
Governmental activities8,879,623 4,262,296 4,152,633 6,323,278 7,913,543
2,336,8411,269,250 1,776,226 4,184,040 1,455,515
Business-type activities
$ 6,599,13710,148,873$ 5,928,859$ 10,507,318$ 9,369,058$
Total primary government
Note: See Table 16 for information about Water and Wastewater Charges for services
91
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92
TABLE 3
CITY OF COLLEYVILLE, TEXAS
FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
Fiscal Year
1998199920002001200220032004200520062007
General fund
Reserved1,165$ 1,165$ 1,165$ 1,165$ -$ -$ -$ -$ -$
-$
5,013,0164,456,390 5,914,387 5,442,147 6,015,647 6,440,152 6,767,592 6,850,731 7,575,662 8,495,329
Unreserved
$ 5,014,1814,457,555$ 5,915,552$ 5,443,312$ 6,015,647$ 6,440,152$ 6,767,592$ 6,850,731$ 7,575,662$ 8,495,329$
Total general fund
All other governmental funds
Reserved9,302,594$ 14,958,472$ 16,609,521$ 18,121,317$ 17,196,677$ 2,674,486$ 3,056,810$ 2,959,583$ 1,082,681$ 1,254,686$
Unreserved, reported in:
Special revenue funds- - - - - 2,068,938 2,459,810 3,251,861 4,760,679
4,814,412
- - - - - 6,012,845 4,967,859 7,438,437 7,012,225 9,055,431
Capital projects funds
Total all other
$ 14,958,4729,302,594$ 16,609,521$ 18,121,317$ 17,196,677$ 10,756,269$ 10,484,479$ 13,649,881$ 12,855,585$ 15,124,529$
governmental funds
Note: This schedule does not restate prior years for Special Revenue and Capital Projects Funds.
93
TABLE 4
CITY OF COLLEYVILLE, TEXAS
CHANGES IN FUND BALANCE
S
GOVERNMENTAL FUND
S
(Continued
)
LAST TEN FISCAL YEAR
S
(Modified Accrual Basis of Accounting)
Fiscal Year
1998199920002001200220032004200520062007
EXCESS OF REVENUES
OVER (UNDER)
$( 2,100,281)4,179,531)$( 411,104)$( 1,577,210)$( 3,800,940)$( 5,884,261)$( 417,716)$( 570,568$ 1,162,708)$( 2,452,940)$(
EXPENDITURES
OTHER FINANCING
SOURCES (USES)
Bonds issued- 7,670,000 2,485,722 1,600,000 3,000,000 - - 9,570,000 - 9,890,000
Refunding bonds- - - 10,470,000 - - - - -
-
Notes payable- 225,000 - 124,850 - - - 94,187 -
-
Capital lease- - - - - - - - 408,716
-
Sale of capital assets- - - - - - - - 152,270
8,800
Payments to escrow- - - 10,091,360)( - 600,000)( - 7,450,606)( -
4,921,334)(
Transfers in381,482 417,785 876,769 1,118,935 1,092,968 1,766,111 1,115,261 1,675,954 2,203,261 1,637,154
- - 429,763)( 605,659)( 644,333)( 708,051)( 641,895)( 1,211,561)( 1,670,904)( 973,069)(
Transfers out
Total other financing
8,312,785381,482 2,932,728 2,616,766 3,448,635 458,060 473,366 2,677,974 1,093,343 5,641,551
sources (uses)
NET CHANGE IN
$( 6,212,5043,798,049)$ 2,521,624$ 1,039,556$ 352,305)$( 5,426,201)$( 55,650$ 3,248,542$ 69,365)$( 3,188,611$
FUND BALANCES
DEBT SERVICE AS
A PERCENTAGE
OF NONCAPITAL
19.4% 17.3% 20.0% 19.6% 17.3% 19.7% 16.7% 16.8% 16.4% 16.0%
EXPENDITURES
Note: Capital Outlay does not include contributed capital assets received from developers.
95
TABLE 6
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING PROPERTY TAX RATE
S
LAST TEN FISCAL YEAR
S
City Direct RatesOverlapping Rates
GeneralGrapevine-Hurst-Euless
Operations andObligationTotalBirdvilleCarrollColleyvilleBedfordKellerTarrant County Tarrant County
FiscalMaintenanceDebtDirectIndependentIndependentIndependentIndependentIndependentTarrantCollegeHospital
YearRateServiceRateSchool DistrictSchool DistrictSchool DistrictSchool DistrictSchool DistrictCountyDistrictDistrict
19980.24200$ 0.10540$ 0.34740$ 1.5005$ 1.7400$ 1.53780$ 1.6063$ 1.5000$ 0.26484$ 0.057690$ 0.234070$
19990.24850 0.09890 0.34740 1.5385 1.7400 1.53780 1.6063 1.5100 0.26484 0.106410 0.234070
20000.25730 0.09010 0.34740 1.5325 1.7900 1.55230 1.6318 1.4750 0.26484 0.106410 0.234070
20010.26300 0.08440 0.34740 1.5698 1.8850 1.58230 1.6775 1.5227 0.27479 0.106410 0.234070
20020.26954 0.07786 0.34740 1.5698 1.9500 1.61679 1.6530 1.5289 0.27479 0.106410 0.234070
20030.27223 0.07517 0.34740 1.6170 1.9350 1.65979 1.7119 1.6519 0.27250 0.139380 0.234000
20040.28700 0.06040 0.34740 1.6170 1.9025 1.70105 1.6616 1.6762 0.27250 0.139380 0.235397
20050.29072 0.05668 0.34740 1.6170 1.9350 1.70000 1.7105 1.6975 0.27250 0.139380 0.235397
20060.27771 0.06969 0.34740 1.6170 1.9350 1.70000 1.7230 1.7158 0.27250 0.139380 0.235397
20070.27873 0.06867 0.34740 1.5650 1.7950 1.57430 1.5976 1.6080 0.27150 0.139380 0.235397
Source:Tarrant Appraisal District
Notes:OverlappingratesarethoseoflocalandcountygovernmentsthatapplytopropertyownerswithintheCityofColleyville,Texas.NotallschooldistrictoverlappingratesapplytoallColleyvillepropertyowners
becausetheCityisservedbyfivedifferentindependentschooldistricts;forexample,althoughthecountypropertytaxratesapplytoallCitypropertyowners,theGrapevine-ColleyvilleIndependentSchoolDistrict
rates apply only to the approximately two-thirds of City property owners whose property is located within that school district's geographic boundaries.
97
TABLE 7
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL PROPERTY TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
20071998
PercentagePercentage
of Total Cityof Total City
TaxableTaxableTaxableTaxable
AssessedAssessedAssessedAssessed
TaxpayerValueValueValueValue
TXU Electric Delivery17,816,746$ 0.58% 12,703,760$ 0.85%
Albertsons14,416,298 0.47% 11,329,116 0.76%
Lifetime Fitness13,914,232 0.45% - -
Melvin & Matrindale11,785,732 0.38% - -
Colleyville Plaza6,424,393 0.21% - -
Uhlman Colleyville, LLC5,771,840 0.19% - -
G Points SC Ltd.5,609,430 0.18% - -
Market Street5,418,279 0.18% - -
Village Management5,390,100 0.17% - -
Realty Capital Colleyville Square4,794,059 0.16% - -
Colleyville Glade Corporation
-6,627,441- 0.44%
Colleyville Development Corporation
-4,200,000- 0.28%
ASG Colleyville Park, Ltd.- -3,837,799 0.26%
Payless Cashways- -3,452,459 0.23%
Southwestern Bell- -3,243,240 0.22%
K-Mart- -2,489,070 0.17%
Eagle Colleyville Town Square- -2,200,000 0.15%
--
Bud Sellers 0.14%2,116,246
$ 2.96%91,341,109 52,199,131$ 3.50%
Total
Source: Tarrant Appraisal District
98
TABLE 8
CITY OF COLLEYVILLE, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Collected With the
Fiscal Year of the LevyTotal Collections to Date
Taxes LeviedCollections
Fiscalfor thePercentagein SubsequentPercentage
Year EndedFiscal YearAmountof LevyYearsAmountof Levy
19985,179,670$ 5,138,233$ 99.2% 38,638$ 5,176,871$ 99.95%
19995,534,817 5,479,469 99.0% 53,059 5,532,528 99.96%
20006,008,914 5,948,825 98.9% 55,877 6,004,702 99.93%
20016,664,042 6,597,402 98.8% 62,195 6,659,597 99.93%
20027,399,976 7,325,976 98.3% 63,880 7,389,856 99.86%
20038,233,543 8,151,208 98.8% 75,801 8,227,009 99.92%
20048,719,444 8,632,250 99.2% 80,641 8,712,891 99.92%
20059,201,770 9,109,752 99.1% 77,371 9,187,123 99.84%
20069,981,646 9,906,769 99.2% 59,882 9,966,651 99.85%
200710,725,345 10,592,222 98.8% - 10,592,222 98.76%
Sources: Tarrant County Appraisal District and City of Colleyville Finance Department.
99
TABLE 9
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL WATER CUSTOMERS
CURRENT YEAR AND NINE YEARS AGO
20071998*
PercentagePercentage
of Total Cityof Total City
TaxableTaxableTaxableTaxable
AssessedAssessedAssessedAssessed
TaxpayerValueValueValueValue
TXU Electric Delivery17,816,746$ 0.58%
Albertsons14,416,298 0.47%
Lifetime Fitness13,914,232 0.45%
Melvin & Matrindale11,785,732 0.38%
Colleyville Plaza6,424,393 0.21%
Uhlman Colleyville, LLC5,771,840 0.19%
G Points SC Ltd.5,609,430 0.18%
Market Street5,418,279 0.18%
Village Management5,390,100 0.17%
Realty Capital Colleyville Square4,794,059 0.16%
Colleyville Glade Corporation
--
Colleyville Development Corporation
--
ASG Colleyville Park, Ltd.- -
Payless Cashways- -
Southwestern Bell- -
K-Mart- -
Eagle Colleyville Town Square- -
--
Bud Sellers
$ 2.96%91,341,109
Total
Source: Tarrant Appraisal District
* Data from fiscal year 1998 is not available.
100
TABLE 10
CITY OF COLLEYVILLE, TEXAS
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEAR
S
Governmental ActivitiesBusiness-type Activities
GeneralSales TaxWater and SewerDrainageTotalPercentage
FiscalObligationRevenueCapitalRevenueRevenueCapitalPrimaryof PersonalPer
YearBondsBondsLeasesBondsBondsLeasesGovernmentIncomeCapita
199814,255,000$ 6,460,000$ -$ 11,717,000$ 1,405,000$ -$ 33,837,000$ 4.27% 1,869$
199914,150,000 13,490,000 - 11,207,000 1,355,000 - 40,202,000 4.59% 2,150
200013,490,000 15,467,722 - 10,666,000 1,300,000 - 40,923,722 4.49% 2,131
200112,975,000 14,982,722 - 10,100,000 3,025,000 - 41,082,722 4.31% 2,107
200215,315,000 14,472,722 - 9,503,000 2,940,000 - 42,230,722 4.22% 2,127
200313,820,000 13,937,722 - 9,605,000 2,800,000 - 40,162,722 3.81% 1,993
200412,925,000 13,077,722 - 8,925,000 2,660,000 - 37,587,722 3.43% 1,834
200511,995,000 14,980,000 69,187 8,160,000 2,515,000 41,077 37,760,264 3.28% 1,798
200610,665,000 14,760,000 404,395 7,365,000 2,365,000 26,933 35,586,328 2.96% 1,640
200717,770,000 10,372,462 349,189 6,540,000 2,205,000 13,140 37,249,791 2.89% 1,682
Notes:Details regarding the City's outstanding debt can be found in the notes to the financial statements.
See Table 14 for personal income and population data.
101
TABLE 11
CITY OF COLLEYVILLE, TEXAS
RATIOS OF NET GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
General Bonded Debt Outstanding
Percentage of
GeneralLess AmountsActual Taxable
FiscalObligationRestricted toValue ofPer
YearBondsRepaying PrincipalTotalPropertyCapita
199814,255,000$ 614,437$ 13,640,563$ 0.91% 754$
199914,150,000 676,097 13,473,903 0.85% 721
200013,490,000 756,106 12,733,894 0.74% 663
200112,975,000 863,320 12,111,680 0.63% 621
200215,315,000 962,363 14,352,637 0.68% 723
200313,820,000 1,025,530 12,794,470 0.54% 635
200412,925,000 995,889 11,929,111 0.46% 582
200511,955,000 989,618 10,965,382 0.41% 522
200610,665,000 1,082,681 9,582,319 0.33% 442
200717,770,000 1,254,686 16,515,314 0.53% 746
Notes:
Details regarding the City's outstanding debt can be found in the notes to the financial statements.
See Table 5 for property value data.
Population data can be found in Table 14.
102
TABLE 12
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
AS OF SEPTEMBER 30, 2007
Estimated
Share of
EstimatedDirect and
DebtPercentageOverlapping
Government Unit
OutstandinAlicablDeb
gppet
Debt repaid with property taxes
Birdville Independent School District251,475,320$ 0.070% 176,033$
Carroll Independent School District153,366,776 0.430% 659,477
Grapevine-Colleyville Independent School District306,397,940 22.940% 70,287,687
Hurst-Euless-Bedford Independent School District217,605,395 1.300% 2,828,870
Keller Independent School District612,851,660 3.840% 23,533,504
Tarrant County212,410,000 0.030% 63,935
Tarrant County College District54,995,000 3.010% 1,655,350
912,933
Tarrant County Hospital District30,330,000 3.010%
Subtotal overlapping debt100,117,789
17,770,000
City direct debt17,770,000 100.000%
$117,887,789
Total direct and overlapping debt
AssessedvaluedatausedtoestimateapplicablepercentagesprovidedbytheTarrantCountyAppraisal
Sources:
District and debt outstanding data provided by each governmental unit.
103
TABLE 13
CITY OF COLLEYVILLE, TEXAS
LEGAL DEBT MARGIN INFORMATION
LAST TEN FISCAL YEAR
S
Legal Debt Margin Calculation for Fiscal Year 2007
Assessed value3,087,318,586$
Debt limit (.2.5% of assessed value)77,182,965
Debt applicable to limit:
General obligation bonds17,000,000
Less: Amount set aside for
repayment of general
(1,254,868)
obligation debt
15,745,132
Total net debt applicable to limit
$ 61,437,833
Legal debt margin
Fiscal Year
1998199920002001200220032004200520062007
Debt limit37,273,645$ 39,552,215$ 43,242,037$ 47,797,166$ 53,094,886$ 59,175,866$ 64,512,041$ 66,314,922$ 71,831,071$ 77,182,965$
14,255,000 14,150,000 13,490,000 12,975,000 15,315,000 13,820,000 12,925,000 11,995,000 9,582,319 15,745,132
Total net debt applicable to limit
$ 23,018,645 25,402,215$ 29,752,037$ 34,822,166$ 37,779,886$ 45,355,866$ 51,587,041$ 54,319,922$ 62,248,752$ 61,437,833$
Legal debt margin
Total net debt applicable to the limit
as a percentage of debt limit.38.24% 35.78% 31.20% 27.15% 28.84% 23.35% 20.04% 18.09%
13.34% 20.40%
Note:
Under state finance law, the City's outstanding general obligation debt should not exceed 2.50 percent of total assessed property value.
104
CITY OF COLLEYVILLE, TEXAS
PLEDGED REVENUE COVERAG
E
LAST TEN FISCAL YEAR
S
Water Revenue Bonds
UtilityLess:Net
FiscalServiceOperatingAvailableDebt Service
YearChargesExpensesRevenuePrincipalInterestCoverage
19987,775,729$ 4,366,860$ 3,408,869$ 410,000$ 486,163$ 2,512,706$
19998,321,893 4,196,771 4,125,122 510,000 576,767 3,038,355
20009,540,064 5,698,694 3,841,370 541,000 556,761 2,743,609
20018,477,716 5,793,366 2,684,350 566,000 515,003 1,603,347
20028,407,033 5,909,848 2,497,185 597,000 485,984 1,414,201
20038,840,900 6,444,484 2,396,416 622,000 457,143 1,317,273
20048,924,942 6,117,278 2,807,664 680,000 406,306 1,721,358
200510,198,733 7,251,998 2,946,735 765,000 361,976 1,819,759
200613,136,476 8,067,565 5,068,911 795,000 329,451 3,944,460
200710,046,030 8,040,621 2,005,409 825,000 296,546 883,863
Notes:
DetailsregardingtheCity'soutstandingdebtcanbefoundinthenotestothefinancialstatements.Operating
expenses do not include interest, depreciation, or amortization expenses.
Salestaxincrementbondsarebackedbythesalestaxrevenueproducedbythesalestaxrateineffectwhenthe
bondswereissued(1/2percent)appliedtotheincreaseinretailsalesintheCommonsshoppingareasincethat
time.
105
TABLE 14
Drainage Revenue BondsSales Tax Bonds
DrainageDrainageNet
ServiceOperationsAvailableSales TaxDebt ServiceDebt Service
ChargesExpensesRevenuePrincipalInterestCoverageIncrementPrincipalInterestCoverage
$ 200,246444,938$ 244,692$ 50,000$ 85,475$ 109,217$ 792,032$ -$ 359,354$ 432,678$
192,442427,568 235,126 50,000 82,600 102,526 836,419 140,000 354,594 341,825
193,979448,990 255,011 55,000 79,581 120,430 849,426 145,000 344,759 359,667
230,578692,628 462,050 55,000 142,772 264,270 823,946 160,000 443,401 220,545
256,866615,099 358,233 205,115 85,550 67,568 881,921 170,000 533,066 178,855
235,105704,031 468,926 140,000 144,417 184,509 768,846 185,000 419,114 164,732
312,235694,196 381,961 140,000 122,263 119,698 873,626 195,000 406,472 272,154
338,310710,265 371,955 175,000 116,432 80,523 982,844 210,000 387,085 385,759
444,700897,606 452,906 150,000 111,252 191,654 1,132,094 240,000 402,929 489,165
462,387922,123 459,736 160,000 104,206 355,530 1,208,379 255,000 391,366 562,013
106
TABLE 15
CITY OF COLLEYVILLE, TEXAS
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
Tarrant
Per CapitaCounty
CalendarPersonalPersonalUnemployment
YearPopulationIncomeIncomeRate
199818,100 139,963$ 43,738$ 4.7%
199918,700 141,012 46,848 4.5%
200019,200 142,877 47,467 3.6%
200119,500 147,258 48,923 4.5%
200219,850 151,638 50,378 6.1%
200320,150 157,414 52,297 6.3%
200420,500 161,095 53,520 5.6%
200521,000 165,008 54,820 5.1%
200621,700 167,009 55,485 4.5%
200722,150 175,008 58,142 4.3%
Sources:Population-NorthCentralTexasCouncilofGovernments,personalincome-CityofColleyville
EconomicDevelopmentDepartment,UnemploymentRate-TexasWorkforceCommission
(unemployment rate is not available solely for the City of Colleyville)
107
TABLE 16
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
20071998
PercentagePercentage
of Total Cityof Total City
EmployerEmployeesEmploymentEmployeesEmployment*
Grapevine Colleyville ISD475 8.2% 385 -%
Market Street415 7.2% - -%
City of Colleyville186 3.1% 122 -%
Lifetime Fitness100 1.7%
Albertsons100 1.7% 100 -%
Kroger- -% 150 -%
LaHacienda Ranch100 1.7% - -%
Sonshine Academy60 1.0% - -%
RWA, Inc.60 1.0% - -%
Mac's Steak and Seafood60 1.0% - -%
Crème de la Crème60 1.0% - -%
Payless Cashways- -% 60 -%
Emler Swim School50 0.9% - -%
Ebby Halliday Realtors50 0.9% - -%
0.9%50 - -%
TGW Insurance
30.3%1,766 817 -%
Total
Source: City Economic Development Division
*This information is unavailable.
108
TABLE 17
CITY OF COLLEYVILLE TEXAS
FULLTIME EQUIVALENT CITY GOVERNMENT EMPLOYEES
BY FUNCTION/PROGRAM
LAST TEN FISCAL YEAR
S
Fulltime Equivalent Employees as of September 30,
Function/Program1998199920002001200220032004200520062007
General government
Management services7 7 7 7 6 6 6
6 6 5
Finance/court6 6 6 6 6 7 7
7 7 6
Planning4 5 5 5 5 5 3 3
3 3
Building5 5 5 5 5 5 5 5
5 5
Other1 2 2 4 4 3 4 5
5 6
Police
Officers28 30 30 30 30 30 30 31
32 35
Civilians8 8 10 10 10 10 10 10
11 13
Fire
Firefighters and officers17 30 30 30 30 30 30
33 33 33
Civilians1 1 1 1 1 1 1 1
1 1
Other public works
Engineering6 6 7 7 6 6 5
5 5 5
Other2 2 2 3 3 3 3 3
3 3
Streets11.5 11.5 11.5 11.5 10.5 10 10 10
10 10
Parks and recreation9 12 12 12 12.5 12.5 12.5 12.5
12.5 13.5
Library- - - - - 5.5 5.5 5.5 5.5
7.5
Colleyville center2 3 4.5 4.5 4.5 4.5 4.5 4.5
4.5 4.5
Water/wastewater18.5 20.5 21.5 21.5 21.5 22.5 25.5 28
29 30
2.5 2.5 2.5 3.5 3.5 4 4 6 6 6
Drainage
128.5 151.5 157.0 161.0 158.5 165.0 166.0 175.5 178.5 186.5
Total
Source:City Human Resources Office
Notes:Afulltimeemployeeisscheduledtowork2080hoursperyear(includingvacationandsickleave).Fulltimeequivalentemploymentiscalculatedby
dividing total labor hours by 2080.
109
TABLE 19
CITY OF COLLEYVILLE, TEXA
S
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRA
M
LAST TEN FISCAL YEAR
S
Fiscal Year
Function/Program1998199920002001200220032004200520062007
Police
Stations1 1 1 1 1 1 1 1
1 1
Patrol units5 5 6 6 6 6 7 7
7 10
Fire
Stations1 2 2 2 2 2 2 2
2 2
Public works
Streets (miles)187 204 222 242 264 288 295 300 307
311
Streetlights671 711 720 727 740 745 751 860 990
1,011
Traffic signals1 1 1 1 1 2 2 2
2 2
Parks and recreation
Acreage162 185 185 185 185 185 185 190 190
202
Playgrounds5 5 5 5 5 5 5 5
5 6
Baseball/softball diamonds11 9 9 9 9 9 9
9 9 9
Soccer fields14 14 14 14 14 14 14 14
14 14
Community centers1 1 1 1 1 1 1 1
1 1
Water
Water mains (miles)135 142 147 150 150 152 170 173
175 191
Fire hydrants833 845 872 880 890 940 1,108 1,149 1,206
1,254
Storage capacity3,900 3,900 4,900 4,900 4,900 4,900 4,900 4,900 4,900
4,900
(thousands of gallons)
Wastewater
Sanitary sewers (miles)117 125 130 130 130 133 147 150
154 163
Storm sewers (miles)50 50 51 52 54 55 56 57
58 59
Source: Various City departments
Note: No capital asset indicators are available for the general government or library function.
111