HomeMy WebLinkAboutComprehensive Annual Financial Report (CAFR)-Audit Records-9/30/2010CITY OF
COLLEYVILLE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2010
Prepared by
Finance Department
Terry Leake
Assistant City Manager/Chief Financial Officer
Karen Hines
Finance Manager
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
YEAR ENDED SEPTEMBER 30, 2010
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 - 24
Basic Financial Statements
Statement of Net Assets ..................................................................................... .............. 26 - 27
Statement of Activities ....................................................................................... .............. 28 - 29
Balance Sheet - Governmental Funds ............................................................... .............. 30 - 31
Statement of Revenues, Expenditures and Changes in
Fund Balances - Governmental Funds ........................................................... .............. 32 - 33
Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balance of Governmental Funds to the
Statement of Activities .................................................................................... .............. 34
Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget and Act~ial - General Fund ..................................... .............. 35
(continued)
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CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2010
Page
Number
FINANCIAL SECTION (Continued)
Basic Financial Statements (Continued)
Statement of Net Assets - Proprietary Funds ................................................. ................. 36
Statement of Revenues, Expenses and Changes in
Fund Net Assets - Proprietary Funds .......................................................... ................. 37
Statement of Cash Flows - Proprietary Funds ................................................ ................. 38 - 39
Statement of Fiduciary Net Assets - Fiduciary Funds .................................... ................. 40
Notes to the Financial Statements ................................................................... ................. 41 - 66
Nonmajor Governmental Funds
Combining Balance Sheet ............................................................................... ................. 70 - 75
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances ........................................................................... ................. 76 - 81
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Act~ial - Debt Service Fund ........................... ................. 82
Agency Funds
Combining Statement of Fiduciary Net Assets ............................................... ................. 84
Combining Statement of Changes in Assets and Liabilities ........................... ................. 85
(continued)
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2010
Page
STATISTICAL SECTION (Unaudited) Exhibit/Table Number
Net Assets by Component ............................................................. .......... 1 89
Changes in Net Assets .................................................................. .......... 2 90 - 93
Fund Balances - Governmental Funds ......................................... .......... 3 95
Changes in Fund Balances - Governmental Funds ...................... .......... 4 96 - 97
Assessed Value and Estimated Actual Value
of Taxable Property .................................................................... .......... 5 98
Direct and Overlapping Property Tax Rates ................................. .......... 6 99
Principal Property Taxpayers ........................................................ .......... 7 100
Property Tax Levies and Collections ............................................ .......... 8 101
Principal Water Customers ........................................................... .......... 9 102
Ratios of Outstanding Debt by Type ............................................ .......... 10 103
Ratios of General Bonded Debt Outstanding ................................ .......... 11 104
Direct and Overlapping Governmental Activities Debt ................ .......... 12 105
Legal Debt Margin Information .................................................... .......... 13 106
Pledged Revenue Coverage .......................................................... .......... 14 108 - 109
Demographic and Econonuc Statistics ......................................... .......... 15 110
Principal Employers ...................................................................... .......... 16 111
Fulltime Equivalent City Government Employees by
Function/Program ...................................................................... .......... 17 ll2
Operating Indicators by Function/Program .................................. .......... 18 113
Capital Asset Statistics by Function/Program ............................... .......... 19 114
(continued)
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2010
Page
Number
COMPLIANCE
Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of
Financial Statements Performed in Accordance With ..................................................... 117 - 118
INTRODUCTORY SECTION
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Febniary 1, 2011
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, 2010, is hereby subnutted. 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 lcnowledge 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 Pattillq 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, 2010, 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, 2010, are presented in confornuty with generally accepted
accounting principles (GAAP).
As required by GAAP, management provides a narrative introduction, overview and analysis to
accompany the basic financial statements in the form of Management's Discussion and Analysis
(MD&A). This letter of transnuttal is designed to complement the MD&A and should be read in
conjunction with it. The City's MD&A can be found immediately following the independent auditors
report.
3
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PROFILE OF THE GOVERNMENT
On January 10, 1956, the City of Colleyville was incorporated and adopted a home-nile charter on
January 15, 1977. It has a Council-Manager form of government with policy malcing and legislative
authority vested in a governing body consisting of a Mayor and six 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 twq 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 adnunistrative services.
Based upon the criterion set forth in generally accepted accounting principles, the following
organizations are includable within the City's reporting entity:
Entitv
Method of Inclusion
Colleyville Econonuc 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 worlc 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 nules 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 2010, as did
commercial development. During the fiscal year, the City issued 77 residential building permits and the
average square footage of a residence was almost five thousand square feet.
4
In the summer of 2010, rehabilitation of the Hall-Johnson elevated storage tank and the renovation of
the Overland Trail lift station were completed. Additionally in summer 2010, constniction was
completed on Phase II of McPherson Park, which included water conservation areas, garden
demonstration areas, spray parlc and renovations to the existing Roclc House as a learning center. The
Colleyville Center, which opened in 1998, was closed for a month and a full renovation was completed.
Improvements included updated finishes and floors, updated audio-visual equipment, and improved
acoustics. In an effort to enhance and strategically focus the City's economic development efforts, a
comprehensive marlceting plan was completed in Fiscal Year 2010. The plan defined target retail
tenants for the City's primary business corridors and identified prospective retail operators for
Colleyville.
For the Future. The Library will expand to the second floor of the building with constniction
beginning in winter 2010. It is proposed to move the existing children's area upstairs and provide
programnung/meeting rooms on the second floor. The first floor of the Library will be primarily for
adults, computer areas and a new teen room. There are intersection improvements, which are designed
to be roundabouts, currently in progress for the Glade Road and Pool Road intersection and in final
design for the Pleasant Run and John McCain Road intersection.
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 2010, both the General
Fund and the Utility Fund have a fund balance in excess of the required 90-day reserve. The 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 streets capital improvements program. Additionally, the Council appointed a
citizen committee that reviewed street infrastnicture needs and financing opportunities. Their
recommendations were incorporated into an infrastnicture program that was approved by Council in
Fiscal Year 2008. Improvements included in the plan, which were completed during Fiscal Year 2010,
were reconstniction of various streets in the Saddlebroolc subdivision and Elm Street and Apple Valley.
In Fiscal Year 2010, the City Council adopted a strategic plan, which incorporated the following
strategic points to achieve the City's vision:
• Malcing a long-term commitment to econonuc development
• Fostering a more diversified tax base
• Protecting and preserving neighborhoods
• Delivering sustainable government
• Branding Colleyville with a unique identity
Additionally for the FY 2011 budget, a transition was made to performance based budgeting, with linlcs
to specific performance indicators to measure the efficiency and effectiveness of service delivery.
5
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 comprehensive annual financial report for the fiscal year ended September 30, 2009. This was the
20th 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, 2009. 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.
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 lilce 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.
Respectfully subnutted,
Terry Lealce
Finance Director
Karen Hines
Finance Manager
6
CITY OF COLLEYVILLE
ORGANIZATIONAL CHART
FISCAL YEAR 2010
PLANNING AND
LIBRARY ZONING
BOARD ~ COMMISSION
/ /
/ PARKS AND
SIGN BOARD RECREATION
OF APPEALS / BOARD
CITY SECRETARY
CITY
COUNCIL
MUNICIPAL
CITY ATTORNEY / JUDGE
CITIZENS OF COLLEYVILLE
ZONING BOARD /
OF
ADJUSTMENT
/ /
AD HOC
~MMITTE
CITY
MANAGER
------------------------
ASSISTANT CITY
MANAGER/
CHIEF FINANCIAL
OFFICER
COMMUNICATIONS
DIRECTOR
COMMUNITY
DEVELOPMENT
DIRECTOR
BUILDING
INSPECTION
CODE
ENFORCEMENT
ECONOMIC
DEVELOPMENT MARKETING
DIRECTOR /
OPERATIONS/
FIRE CHIEF INSPECTIONS/
INVESTIGATIONS
/ / %%%%%%%%%%%%%%%%%%%%%%/%%%%%%%%i /
PATROL/
POLICE CHIEF INVESTIGATIONS/
/ ANIMAL CONTROL
~~~'~J~
~ COLLEYVILLE
///i ECONOMIC
DEVELOPMENT
CORPORATI ON
~
CRIME
CONTROLAND TAX
PREVENTION INCREMENT
DISTRICT FINANCING
~ DISTRICT
% ~
j STRATEGIC SERVICES
/ MANAGER
j %%%%%%%%%%%%%%%%%%%%%%%%%/%%%%%%%%/ /
~ HUMAN RESOURCES
MANAGER
COLLEYVILLE CENTER
MANAGER
LIBRARY DIRECTOR
PARKS AND
RECREATION
DIRECTOR
/
INFORMATION /
SERVICES MANAGER /
FINANCE MANAGER
PUBLIC
WORKS UTI LITY STREETS/
DIRECTOR ADMINISTRATION DRAINAGE/ ENGINEERING
AND OPERATION FLEET MAINTENANCE
/ ~ / ~ BUILDING SERVICES /~
i
/ ////i~
7
UTILITY BILLING
MUNICIPAL COURT
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Coileyviile
Texas
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2009
A Certificate of Aclue~~ement for Excellence in Financial
Reporting is presented by~ the Go~~ei7nnent Finance Officers
Association of the Uiuted States and Canada to
go~~ei7nnent uiuts and public employ~ee rerirement
sy~stems ~~hose comprehensi~~e aimual financial
reports (CAFRs) aclue~~e the lughest
standards in go~~ei7unent accounting
and financial reporting.
~~ ~ ~
~yGE OF~~C ~~
k~~ OF 1RE ~,p
- Uti ~S~TA'CFS ~
~
~n~~„ ~ President
a~ ~~
~,,,, Q ,~
exrc~6~ ~ n ' ~~
~~
Executive Director
8
CITY OF COLLEYVILLE, TEXAS
HOME RULE, COUNCIL - MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 2010
David Kelly
Mayor
Carol Wollin
Councilmember, Place 1
Michael Muhm
Councilmember, Place 2
Stan Hall
Councilmember, Place 3
Jon Ayers
Mayor Pro Tem and
Councilmember, Place 4
Tom Hart
Councilmember, Place 5
Milce Taylor
Councilmember, Place 6
Jennifer Fadden
City Manager
Terry Lealce
Assistant City Manager/Chief Financial Officer
Karen Hines
Finance Manager
9
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lo
FINANCIAL SECTION
~~
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12
~,~
PATTILLO, BROWN & HILL,I,_L.Y.
CERTIFIED PUBLIC ACCOUNTANTS ^ BUSINE55 CONSULTANTS
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, 2010, 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 financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Uove~nnient Auditing
,Standa~ds, issued by the Comptroller General of the United States. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit 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 respective 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, as of September 30, 2010, and the respective changes in financial position and
cash flows, where applicable, thereof for the year then ended in confornuty with accounting principles
generally accepted in the United States of America.
In accordance with Uove~nnient A~zditing ,Standa~ds, we have also issued our report dated January
25, 2011, on our consideration of the City's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regtilations, contracts, and grant agreements and other matters.
The purpose of that report is to describe the scope of our testing of internal control over financial reporting
and compliance and the results of that testing, and not to provide an opinion on internal control over
financial reporting or on compliance. That report is an integral part of an audit performed in accordance
with Uove~nnientAuditing,Standa~ds and should be considered in assessing the results of our audit.
13
401 VdEST HI(iH~'~'AI' 6~ P. O. BO~ 2072~ ~ VcACO, T~ 76702-072~ ~(2~4) 772-4901 ~ F~~: (2~4) 772-4920 ~ ~cww.pbhcpa.com
AFFILIATE OFFICES: BROVdNS~'ILLE, T~ (9~6) ~44-7778 ~ HILLSBORO, T~ (2~4) ~82-2~83
TEl~7PLE, T~ (2~4) 791-3460 ~ ALBUQUERQUE, N1~7 (~0~) 266-~904
Accounting principles generally accepted in the United States of America require that the
management's discussion and analysis on pages 17 through 24 be presented to supplement the basic
financial statements. Such information, although not a part of the basic financial statements, is required
by the Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. We have applied certain linuted procedures to the required supplementary information in
accordance with auditing standards generally accepted in the United States of America, which consisted
of inquiries of management about the methods of preparing the information and comparing the
information for consistency with management's responses to our inquiries, the basic financial
statements, and other lcnowledge we obtained during our audit of the basic financial statements. We do
not express an opinion or provide any assurance on the information because the limited procedures do
not provide us with sufficient evidence to express an opinion or provide any assurance.
Our audit was conducted for the purpose of fornung opinions on the financial statements that
collectively comprise the City's financial statements as a whole. The introductory section, combining
and individual nonmajor fund financial statements and schedules, and statistical section are presented for
purposes of additional analysis and are not a required part of the financial statements. The combining
and individual nonmaj or fund financial statements and schedules are the responsibility of management
and were derived from and relate directly to the underlying accounting and other records used to prepare
the financial statements. The information has been subjected to the auditing procedures applied in the
audit of the financial statements and certain additional procedures, including comparing and reconciling
such information directly to the underlying accounting and other records used to prepare the financial
statements or to the financial statements themselves, and other additional procedures in accordance with
auditing standards generally accepted in the United States of America. In our opinion, the information is
fairly stated in all material respects in relation to the financial statements as a whole. The introductory
and statistical sections have not been subjected to the auditing procedures applied in the audit of the
basic financial statements and, accordingly, we do not express an opinion or provide any assurance on
them.
~ ~,
~a~~..o ~ ~ ~~ ~ }~;~, ~ L . l~.
January 25, 2010
14
MANAGEMENT' S
DISCUSSION AND ANALYSIS
15
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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, 2010. We encourage readers to consider the information presented here in conjunction with
additional information that we have furnished in our letter of transnuttal, 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, 2010,
by $156,775,680 (net assets). Of this amount, $33,684,039 (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 $702,944.
• As of the close of the current fiscal year, the City of Colleyville's governmental funds
reported combined ending fund balances of $27,156,866. Of this amount,
$26,002,296 is unreserved fund balance available for use within the City's fund
designation and fiscal policies.
• As of September 30, 2010, unreserved, undesignated fund balance for the General
Fund was $8,813,597 or 44% 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 26 of this report, are designed to provide readers with a broad overview of the City's finances, in a
manner sinular 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.
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).
17
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, lilce 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, unlilce 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 sinular
information presented for governmental activities in the government-wide financial statements. By
doing sq 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 fund. 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.
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 36 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 41 - 66 of this report.
18
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 nonmaj or funds are presented
immediately following the notes to the financial statements beginning on page 70 of this report.
GOVERNMENTAL-WIDE FINANCIAL 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 $156,775,680 as of September 30,
2010.
The largest portion of the City's net assets ($121,050,717) reflects its investments in capital assets (e.g.,
land, building, equipment, improvements, constniction in progress and infrastnicture), 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
Go~ enunental Acti~ itiea Bnaineaa-tti=pe Acti~ itiea Totala
2010 2009 2010 2009 2010 2009
Cmrentandotheraaaeta $ 29,184,80~ $ >0,969,411 $ 10,1~9,~>~ $ 10,419,~10 $ >9,>44,>40 $ 41,>88,921
('apital aaaet,s 104,994,671 10>,184,780 4~,29~,04> a6,244,~62 1~Q289,714 149,429,>42
Totalaaaeta 1>4,179,476 1>4,1~4,191 ~~,4~4,~78 ~6,664,072 189,6>4,0~4 19Q818,26>
Other liabilitiea >,9>6,264 >,72~,217 2,241,6>4 2,089,467 6,177,898 ~,814,684
Long-tenn liabilitiea 21,278,1>6 22,64~,717 ~,402,>40 6,28~,126 26,68Q476 28,9>Q84>
Totalliabilitiea 2~,214,400 26,>70,9>4 7,64>,974 8,>74,~9> >2,8~8,>74 >4,74~,~27
Net aaaets:
I~i~ eated in capital aaaeta,
netofrelateddebt 81,970,674 79,24>,497 >9,080,04> >9,174,~62 121,0~0,717 118,418,0~9
Reatricted 1,0~7,699 1,040,896 98>,22~ 987,181 2,040,924 2,028,077
Unreatricted 2~,9>6,70> 27,498,864 7,747,>>6 8,127,7>6 ;>,684,0>9 >~,626,600
Totalnetaaaeta $ 108,96~,076 $ 107,78>,2~7 $ 47,810,604 $ 48,289,479 $ 1~6,77~,680 $ 1~6,072,7>6
A portion of the City's net assets ($2,040,924) represents resources that are subject to external
restriction on how they may be used. The remaining balance ($33,684,039) 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, 2010, 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. The increase of
$1,181,819 in net assets relating to governmental activities is due to an increase in ad valorem tax
collections due to a 3% increase in assessed valuation and an increase in sales tax. The decrease in net
assets of business type activities related to sharply lower investment revenue and capital contributions
and increased cost of purchased treated water and wastewater from Trinity River Authority, the City's
sole provider of those services.
19
Analysis of the City's Operations - The following table provides a summary of the City's operations
for the year ended September 30, 2010. Governmental activities increased the City of Colleyville's net
assets by $1,181,819, accounting for all of the total growth in net assets. Business-type activities
contributed a decrease to the City's net assets of $478,875.
Revenues:
Program revenues:
Charges for services $
Operating g.~nts
and contributions
Capital gants
and contributions
General revenues:
Ad valorem t~~ses
Sales tases
Franchisetases
Other t~~ses
Investment e:unings
~Iiscellaneous
Gain on sale of
capital assets
Total revenues
Espenses:
General government
Community development
and engineering
Fire and rescue
Leisure services
~laintenance
l~7unicipal court
Police
Streets and drainage
~i ater and ~~aste~~ater
Drainage
Interest on
long-term debt
Total espenses
Licreases in net assets
CITY OF COLLEYVILLE'S CHANGES IN NET ASSETS
2010
Gocernmental Acticities
2009
Business-t~pe .~cti~ ities
Totals
2010 2009
3,018,966 $ 8,817,87~ $ 12,311,786 $ 12,178,~0~ $ 1~,330,7~2 $ 20,996,380
~43,~16 713,189 - - ~43,~16 713,189
423,873 360,023 147,014 63,293 ~70,887 423,316
12,~~7,716 12,121,420 - - 12,~~7,716 12,121,420
4,936,484 4,718,976 - - 4,936,484 4,718,976
1,867,06~ 2,017,440 - - 1,867,06~ 2,017,440
7~,36~ 74,198 - - 7~,36~ 74,198
76,968 471,~24 1~,1~8 168,940 92,126 640,464
82,833 77,8~4 - - 82,833 77,8~4
2,691,90~ 2,94~,481
1,64~,221 1,~30,901
4,419,94~ 4,113,793
4,118,769 3,941,2~9
423,783 4~~,7~2
302,7~6 291,724
4,836,274 4,841,217
3,88~,182 3,~03,~19
1,000,061 1,0~1,180
23,323,896 22,694,826
11,242,~~3 10,612,372
~72,234 6~8,016
296,288 331,361
12,111,07~ 11,601,749
2,691,90~ 2,94~,481
1,64~,221 1,~30,901
4,419,94~ 4,113,793
4,118,769 3,941,2~9
423,783 4~~,7~2
302,7~6 291,724
4,836,274 4,841,217
3,88~,182 3,~03,~19
11,242,~~3 10,612,372
~72,234 6~8,016
1,296,349 1,382,~41
3~,434,971 34,276,~7~
beforetransfeis 324,196 6,722,910 378,747 808,989 702,943 7,~31,899
Ti.~nsfers 8~7,622 823,797 ( 8~7,622) ( 823,797) - -
Change in net assets 1,181,818 7,~46,707 ( 478,87~) ( 14,808) 702,943 7,~31,899
Netassets,beginning 107,783,2~7 100,236,~~0 48,289,479 48,304,287 1~6,072,736 148,~40,837
Netassets, ending $ 108,96~,07~ $ 107,783,2~7 $ 47,810,604 $ 48,289,479 $ 1~6,77~,679 $ 1~6,072,736
2~
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.
At the end of the current fiscal year, the City of Colleyville's governmental funds reported combined
ending fund balances of $27,156,866. Approximately 96% of this total amount ($26,002,296)
constinites unreserved fund balance. The remainder of the fund balance ($1,154,570) is reserved to
indicate that is not available for new spending because it has already been comnutted to pay for
encumbrances or debt service or to provide for other items. Refer to page 30 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 $702,000 as a
planned reduction of fund balance to fund Saddlebroolc subdivision street improvements. While there
were two budget adjustments in Fiscal Year 2010, the expense was offset by additional revenues, the
final budgeted decrease in fund balance was $702,000. The actual increase to fund balance for the
General Fund was $606,177 for fiscal year 2010, due to greater than anticipated revenues from property
taxes, sales taxes and reductions to overall departmental expenditures due to lower than anticipated
building permit revenues.
Proprietary funds - The City's proprietary fund statements beginning on page 36 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
($6,671,945), and Drainage Utility ($1,075,391). The Water and Wastewater fund experienced a
decrease in total net assets of $739,445 during Fiscal Year 2010 due to lower investment income and
contributed capital and increased charges from Trinity River Authority for treated water and wastewater.
The Drainage Utility fund's net assets increased by $260,570, due to increased service charge revenue
and reductions to expenditures.
Governmental Activities - The major increase in revenues comes from the tax category. The property
tax base increased over $110 nullion, due to constniction of new residences and businesses in 2009, and
revaluation of property. The current year tax collection rate was almost 99% of the levy. Investment
income is down due to historically low interest rates. There was a decrease in the Charges for Services
category, because the City received a one-time signing bonus of over $6.2 million for a gas lease on
City-owned property in FY 2009, and there was a decrease in both license and permit revenues due to
continued lower than anticipated issuance of residential building permits. Fines and forfeitures were up
due to the establishment of a municipal court of record and enhanced warrant collections.
Enhancements to the Fiscal Year 2010 budget continued the renewed focus on street maintenance with a
budget of $1,702,000 of which $702,000 was to be used for street improvements and re-constniction in
the Tara subdivision. The increase in Fire expenditures is for the acquisition of a nud-mount aerial
platform fire tnick. The primary decrease in General government relates to the acquisition of a blades
and a san server which occurred in FY 2009. Leisure services increases related various contract~ial
services for McPherson Park, a twenty two area park in the northwest area of the city that opened in FY
2009. The Debt Service Fund's expenditures decreased due a decrease in the 2002 Certificates of
Obligation payments for the portion of the debt for the City Hall and Library furnishings and equipment.
21
Business-type Activities - The City has two enterprise operations, the Water and Wastewater Fund and
the Drainage Utility Fund. Total operating revenues of the Water and Sewer fund were $11,414,425 for
the fiscal year. Water sales increased due to a rate increase in December 2009, which passed through a
rate increase from the Trinity River Authority, the City's provider of treated water. Wastewater sales
decreased primarily due to lower residential usage during the winter usage period which sets residential
wastewater charges due to the frequency of irrigation that occurs during the summer months. The
coverage ratio for debt for this fund was 22 for the fiscal year, exclusive of transfers. The slight
increase in the Drainage Utility Fund's revenues was due to new residential and commercial
constniction.
Increases in the Water and Wastewater 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, replacement of system-wide aging infrastnicture
and compliance with federal water and wastewater mandates.
General Fund Budgetary Highlights - The City made revisions to the original appropriations
approved by the City Council. Overall, these changes resulted in an increase from the original budget of
$18,981,970. The first budget amendment was for the purchase of a mid-mount aerial platform fire
apparatus in the amount of $981,238. The second budget amendment was for the funding of payments to
recreational instnictors in the amount of $38,259, due to greater than anticipated recreation program
participation that was offset by revenues. Alsq included in the second budget amendment was the
transfer of unsent street resurfacing appropriations to the Capital Proj ects fund for future street proj ects.
The General Fund's overall budgeted revenue decreased by $299,738. The three major decreases were
in the licenses and permits category was due to new residential home constniction activity remaining at
a lower than anticipated level, interest rates remaining at historically low levels producing lower interest
income, and the budgeted $702,000 draw down fund balance which was not needed due to expenditures
being lower than budgeted. However, there was an increase in revenue from elinunation of citation
appeal revenue loss due to the establishment of a municipal court of record, enhanced warrant
collections and the aforementioned recreation program revenue.
Refer to the General Fund Statement of Revenue, Expenditures and Changes in Fund Balances - Budget
and Actual on page 35 of this report for a detailed presentation of the actual General Fund operations
compared to both the original and final budget for fiscal year 2010.
CAPITAL ASSETS
The City of Colleyville's investment in capital assets for its governmental and business-type activities as
of September 30, 2010, amounts to $150,289,714 (net of accumulated depreciation). This investment in
capital assets includes land, building, equipment, improvements other than buildings, infrastnicture and
constniction work in progress. Major capital asset events occurring during the current fiscal year
included the following:
• Capitalized approximately $1.8 million in park improvements with the completion of
McPherson Park Phase II improvements;
• Capitalized appro~mately $.86 million in building improvements with the completion
of the Colleyville Center renovation;
22
• Capitalized approximately $.48 nullion in street improvements and contributions;
and
• Capitalized approximately $.8 nullion in water and wastewater system projects and
contributions including the rehabilitation of the Hall-Johnson elevated storage tanlc
and the renovation of the Overland Trail lift station.
CITY OF COLLEYVILLE'S CAPITAL ASSETS AT YEAR-END
Government~~l Activities Business-type Activities Totals
2010 2009 2010 2009 2010 2009
Land $ 9,293,6~4 $ 9,293,6~4 $ 313,0~7 $ 313,0~7 $ 9,606,711 $ 9,606,711
Buildings and improvements -~3,607,74~ 40,~36,708 ~3,922 ~3,922 43,661,667 40,~90,630
Equipment 9,180,666 7,364,496 1,~87,~62 1,740,48~ 10,768,228 9,104,981
Infrastructure.'water
distributionsewercollection 76,031,~18 7~,202,099 68,134,647 67,391,621 144,166,16~ 142,~93,720
Constructioninpro~ress 1,21~,37~ 2,140,424 479,280 361,742 1,694,6~~ 2,~02,166
Less: accumulated
depreciation ( 34,334,287) ( 31,3~2,601) ( 2~,273,42~) ( 23,616,26~) ( ~9,607,712) ( ~4,968,866)
Total capital assets $ 104,994,671 $ 103,1R4,7R0 $ 4~,29~,043 $ -16,244,~62 $ 1~0,2R9,714 $ 149,429,342
Additional information on the City's capital assets can be found in Note 4, pages 55 - 57 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 $29,238,997. Of this amount, $13,300,000 represents bonded debt baclced by
the full faith and credit of the government, $8,572,824 represents bonds secured by sales tax revenues,
$4,520,000 represents bonds secured solely by water and sewer revenues, and $1,695,000 represents
bonds secured solely by drainage utility system revenues. The City's capitalized lease obligations of
$1,151,173 pertain to the purchase of a fire pumper tniclc and ambulance and the lease purchase of a
mid-mount aerial platform fire apparatus in the amount of $981,238 in FY 2010.
OUTSTANDING DEBT AT YEAR-END
BONDS, NOTES AND CAPITALIZED LEASE OBLIGATIONS PAYABLE
Uovernmentll:~ctivitieS BuSmeSS-hpe:~ctivitieS Tot1IS
2010 2009 2010 2009 2010 2009
General obligaCion bonds
and certificates of
obligation $ 13,300,000 $ 14,665,000 $ - $ - $ 13,300,000 $ 14,665,000
Salestalrevenuebonds 8,572,824 9,199,370 - - 8,572,824 9,199,370
Revenue bonds payable - - 6,215,000 7,070,000 6,215,000 7,070,000
Capitalized lease
obligations 1,151,173 359,996 - - 1,151,173 359,996
$ 23,023,997 $ 24,224,366 $ 6,215,000 $ 7,070,000 $ 29,238,997 $ 31,294,366
23
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 ICBA and Poor's
Ueneral Obligation Bonds AAA AAA
Water Revenue Bonds AAA AA+
During Fiscal Year 2010, the City received an upgrade to AAA from Fitch on both its General
Obligation Bonds and Water Revenue Bonds during their rating recalibration process. Most of the
City's Bonds are insured, thus holding a AAA credit rating from both Fitch Ratings and Standard &
Poor's. Additional information on the City of Colleyville's long term-debt can be found in footnote 4 on
pages 58 - 63 of this report.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES
The General Fund budget including transfers in for fiscal year 2011 is based on a projected revenue loss
of 2.6% as compared to the fiscal year 2010 budget, exclusive of the FY 2010 utilization of fund balance
for Saddlebroolc subdivision street improvements in the amount of $702,000. There is a 1.9 % decrease
projected in property tax revenue due to declining valuation. This is the largest revenue source and
comprises 57% of General Fund revenues. The total tax rate for fiscal year 2011 is $.3559, which is
unchanged since fiscal year 2008. Approximately 14% of General Fund revenues are sales taxes, and
sales taxes are budgeted at an 8% decrease over the fiscal year 2010 budget, due to current economic
conditions. Another revenue decrease ($140,716) is in the area of licenses and pernuts, as it is
anticipated homes with smaller square footage will be built. There is no utilization of surplus fund
balance in the adopted FY 2011 General Fund budget.
There is no pay increase included in 2011 budget for the General Fund or other funds, due to current
econonuc conditions. Additionally, twelve full-time positions were elinunated, including eight dispatch
positions due to the establishment of the regional public safety dispatch center located in the
neighboring city of Keller. The General Fund continues to budget $1,000,000 in the Street department
budget for the street overlay budget, which will overlay approximately five nules of city streets.
Slight revenue growth in the Water and Wastewater Fund will come from additional residential and
commercial customers. There was an in-house water and wastewater rate study completed in summer
2010. The st~idy reviewed tiered rate options and nunimum bill options and proj ected Trinity River
Authority (TRA) rate increases to maintain the financial stability of the Water and Wastewater Fund in
future years. The option selected was to pass through future TRA rate increases on the first 2,000
gallons usage included in the nunimum bill and all usage above 2,000 gallons.
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 Lealce, Assistant City Manager / Chief Financial Officer, at 100 Main Street,
Colleyville, Texas 76034, or call (817) 503-1115.
24
BASIC
FINANCIAL STATEMENTS
25
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF NET ASSETS
SEPTEMBER 30, 2010
Go~~ei7nnental Business-ty~pe
Acti~~ities Acti~~ities
ASSETS
Casli and eqiii` alents $ 17,~55,~07 $ 5,115,7~8
In~~estments 10,203,993 2,701,137
Recei~~ables (net of allo~~ances for uncollectibles of $3~1,2~7;
Accounts 81,~5~ 2,058,293
Propeit~ tases 32~,550 -
Due from other go~~ei7nnents 853,905 -
Other assets - 118,~91
In~~entoiies - 163,892
Defei7ed charges 252,709 -
Acciued interest 12,787 1,97~
Capital assets:
Land 9,293,65~ 313,057
Buildings and impro~~ements ~3,607,7~5 53,922
Equipment 9,180,666 1,587,562
Infrastiucture%ater distiibution/se~~er collection 76,031,518 68,13~,6~7
Constiucrion in progress 1,215,375 ~79,280
Less: accumulated depreciarion ( 3~,33~,287) ( 25,273,~25)
Total capital assets 10~,99~,671 ~5,295,0~3
Total assets 13~,179,~76 55,~5~,578
LIABILTTIES
Accoiints pa~ able 76~,535 736,81~
Acciued liabilities ~03,255 52,353
Acciued interest pay~able 15~,870 61,222
Ad~~ances from de~~elopers 16~,059 73,396
Customer deposits 62,257 ~1~,76~
Noncui7ent liabilities:
Due ~~itlun one ti~ear 2,387,288 903,085
Due in more than one ti~ear 21,278,136 5,~02,3~0
Total liabilities 2~,21~,~00 7,6~3,97~
NET ASSETS
In~~ested in capital assets, net of related debt 81,970,67~ 39,080,0~3
Resriicted for:
Debt seiti~ice 1,057,699 983,225
Uiuesriicted 25,936,703 7,7~7,336
Total net assets $ 108,965,076 $ ~7,810,60~
The accompanying notes are an integral part of these financial statements.
26
Component
Total Uiuts
$ 22,571,155 $ 12,116,936
12,905,130 353,581
2,139,7~7 -
32~,550 -
853,905 -
118,~91 -
163,892 -
252,709 -
1~,761 2~8
9,606,711 L800,9~0
~3,66 L667 -
10,768,228 -
1~~,166,16~ -
1,69~,6» ~,183,699
( 59,607,712) ( 72,038)
150,289,71~ 5,912,601
189,63~,0~~ 18,383,366
1,501,3~9 -
~55,608 -
216,092 3~,937
237,~» -
~77,021 -
3,290,373 ~70,000
26,680,~76 5,380,000
32,858,37~ 5,88~,937
121,050,717 -
2,0~0,92~ -
33,68~,039 12,~98,~29
$ 156,775,680 $ 12,~98,~29
27
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Functions.'Prog.~ns Espenses Charges for Services
Pivnaiy goveinment
Government~~l activities:
General government $ 2,691,90~ $ 1~,000
Community development 1,64~,221 647,298
Fire and rescue 4,419,94~ 23~,22~
Leisure services 4,118,769 468,426
l~7aintenance 423,783 -
l~7unicipal court 302,7~6 1,213,178
Police 4,836,274 94,0~9
Streets and drainage 3,88~,182 34~,780
Interest on long-term debt 1,000,061 -
Total gocernmental acticities 23,323,89~ 3,018,966
Business-t~ pe acti~ ities:
Vdater and wastewater 11,4~~,911 11,414,42~
Drainage 6~~,164 897,361
Tot~~l business-type activities 12,111,07~ 12,311,786
Tot~~l primaiy government
Component unit
Tas increment ~inancing
Tot~~l component unit
$ 3~,434,970 $ 1~,330,7~2
$ 340,231 $ -
$ 340,231 $ -
(Ueneral revenues:
Tases:
Property t~~ses, levied for general purposes
Property t~~ses, levied for debt service
TIF t~~ses
Salestases
Franchisetases
Other tases
Investment e:unings
~Iiscellaneous
Gain on sale of capital assets
Transfers
Tot~~l general revenues and transfeis
Change in net assets
Net assets - beginning
Net assets - ending
Pro~ram Revenue
Operating Grants Capital Grants and
$ 1,232 $ -
69,313 -
369,236 46,604
103, 73 ~ -
- 377,269
~43,~16 423,873
- 147,014
- 1Y/,V1Y
$ ~43,~16 $ ~70,887
$ - $ -
$ - $ -
The accompanying notes are an integral part of these financial statements.
28
Net (Espense) Revenue and Changes in Net Assets
Primaiv Government
Government~~l Business-type
Activities Activities Tot~~l Component Units
$( 2,67~,673) $ - $( 2,67~,673) $ -
( 997,923) - ( 997,923) -
( 4,ll~,407) - ( 4,ll~,407) -
( 3,234,~03) - ( 3,234,~03) -
( 423,783) - ( 423,783) -
910,422 - 910,422 -
( 4,638,480) - ( 4,638,480) -
( 3,162,133) - ( 3,162,133) -
( 1,000,061) - ( 1,000,061) -
( 19,337,~40) - ( 19,337,~40) -
- 10~,~28 10~,~28 -
- 242,197 242,197 -
- 347, 72 ~ 347, 72 ~ -
( 19,337,~40) 347,72~ ( 18,989,81~) -
- - - ( 340,231)
- - - ( 340,231)
10,~36,~23 - 10,~36,~23
2,021,193 - 2,021,193
4,936,4R4 - 4,936,4R4
1,867,06~ - 1,867,06~
7~,36~ - 7~,36~
76,968 1 ~,1 ~8 92,126
82,833 - 82,833
6~,306 1 ~,864 81,170
8~7,622 ( 8~7,622) -
20,~19,3~9 ( 826,600) 19,692,7~9
1,181,819 ( 478,87~) 702,944
107,783,2~7 48,289,479 1~6,072,736
$ 108,96~,076 $ 47,810,604 $ 1~6,77~,680
~,971J~4
19,~40
~,991,294
~,6~ 1,063
6, 847,366
$ 12,498,429
29
CITY OF COLLEYVILLE, TEXAS
BALANCESHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
Capital
General Projects Debt Seiti~ice
ASSETS
Casli and casli eqiii` alents $ 2,8~0,313 $ ~,589,553 $ 1,153,836
In~~estments 6,306,507 2,060,3~6 -
Recei~~ables (net of allo~~ ances for uncollectibles)
Accounts 81,~5~ -
Taxes 266,551 - 57,999
Due from other go~~ei7nnents ~55,23~ - 73~
Acciued interest 9,220 2,05~ -
Total assets $ 9,959,279 $ 6,651,953 $ 1,212,569
LIABILTTIES AND FUND BALANCES
Liabilities:
Accounts pay~able 362,~97 188,573 $ -
Acciued liabiliries 397,803 - -
Defei7ed re~~enue 323,125 - 57,999
Ad~~ances from de~~elopers - 150,336 -
Customer deposits 62,257 - -
Total liabiliries 1,1~5,682 338,909 57,999
Fund balances:
Reseiti~ed for:
Debt seiti~ice - - 1,15~,570
Uiueseiti~ed 8,813,597 - -
Uiueseiti~ed, reported in:
Special re~~enue funds - - -
Capital projects funds - 6,313,0~~ -
Total fund balances 8,813,597 6,313,0~~ 1,15~,570
Total liabiliries and fund balances $ 9,959,279 $ 6,651,953 $ 1,212,569
Amounts reported for go~~ei7nnental acti~~ities in the statement of net assets are different because:
Capital assets used in go~~ei7nnental acti~~ities are not financial resources and, therefore, are not reported in the funds.
Other long-term assets are not a~~ailable to pay~ for cui7ent-peiiod expenditures and, therefore are defei7ed in the funds.
Long-term liabiliries are not due and pay~able in the cui7ent peiiod and, therefore, are not reported in the funds.
Net assets of go~~ei7nnental acti~~ities
The accompanying notes are an integral part of these financial statements.
30
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Tr1o.L
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
General Capital Projects Debt Service
REVENUES
Ta~es $ 15,044,242 $ - $ 2,010,911
Fees and fines 1,177,337 - -
Licenses and permits 607,132 - -
Intergovernmental 6,325 23,333 -
Charges for services 917,884 - -
Capital improvement fees - 334,075 -
Dona~ions - - -
Investrnentearnings 29,252 15,217 2,~52
Miscellaneous 80,924 1,909 -
Total revenues 17,863,096 374,534 2,013,363
EXPENDITURES
Current:
General government 2,406,185 - -
Communin~ development and engineering 1,345,987 - -
Fue and rescue 3,947,085 528 -
Leisure services 2,777,854 6,825 -
Maintenance 417,946 - -
Municipal court 265,079 - -
Police 4,159,824 10,289 -
ST~eets and drainage 2,280,603 17,116 -
Debt seivice:
Principal - - 1, 890,061
Interest and other charges - - 588,~61
Capital outlav 1,046,410 1,130,437 -
Total e~penditures 18,646,973 1,165,195 2,478,522
EXCESS (DEFICIENCY) OF REVENUES
OVER (I7NDER) EXPENDITURES ( 783,877) ( 790,661) ( 465,159)
OTHER FINANCING SOURCES (IJSES)
Capital lease 981,238 -
Sale of capit~ll assets 6~,306 -
Transfers in 857,622 378,334 498,162
Transfers out ( ~ 14,112) - -
Total other financing sources and uses 1,390,054 378,334 498,162
NET CHANGE IN FIJND BALANCES 606,177 ( 412,327) 33,003
F`I7ND BALANCES, BEGINNING 8,207,420 6,725,371 1,121,567
F`I7ND BALANCES, ENDING $ 8,813,597 $ 6,313,044 $ 1,154,570
The accompanying notes are an integral part of these financial statements.
32
To~l
Other Governmental
Governmental Funds
$ 2,298,205 $ 19,353,358
66,809 1,244,146
- 607,132
71,149 100,807
- 917,884
- 334,075
379,853 379,853
30,047 76,968
15,000 97,833
2,861,063 23,112,056
17,684 2,423,869
296,060 1,642,047
7,794 3,955,407
388,673 3,173,352
- 417,946
37,093 302,172
382,834 4,552,947
- 2,297,719
290,000 2,180,061
356,290 944,751
2,758,206 4,935,053
4,534,634 26,825,324
( 1,673,571) ( 3,713,268)
- 981,238
- 65,306
150,778 1,884,896
( 513,162) ( 1,027,274)
( 362,384) 1,904,166
( 2,03~,9>j) ( 1,809,102)
12,911,610 28,965,968
$ 10,875,655 $ 27,156,866
33
CITY OF COLLEYVILLE, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVTTIES
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Amounts reported for go~~ei7nnental acti~~ities in the Statement of Acti~~ities (pages
30 - 31) are different because:
Net change in fund balances - total go~~ei7nnental funds: $( 1,809,102)
Go~~ei7nnental funds report capital outlay~s as expenditures. Ho~~e~~er. in the
statement of acti~~ities, the cost of those assets is allocated o~~er their estimated
useful li~~es and reported as depreciation expense. 1,~12,955
The net effect of transactions in~~ol~~ing capital assets is to increase net assets. 396,936
Re~~enues, in the statement of acti~~ities, that do not pro~~ide cui7ent financial
resources, are not reported as re~~enues in the funds. 73,79~
The issuance of long-term debt (e.g., bonds, leases) pro~~ides cui7ent financial
resources to go~~ei7nnental funds, ~~lule the repay~ment of the piincipal of long-
term debt consumes the cui7ent financial resources of go~~ei7nnental funds. 1,169,995
Some expenses reported in the statement of acti~~ities do not require the use of
cui7ent financial resources and therefore are not reported as expenditures in
go~~ei7nnental funds. ( 62,759)
Change in net assets of go~~ei7nnental acri~~iries $ 1,181,819
The accompanying notes are an integral part of these financial statements.
34
CITY OF COLLEYVILLE, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Vaiiance ~~ith
Final Budget -
Budgeted Amounts Actual Positi~~e
Original Final Amounts (Negari~~e)
REVENUES
Tases $ 1~,810,066 $ 1~,810,066 $ 15,0~~,2~2 $ 23~,176
License and peimits 729,327 729,327 607,132 ( 122,195)
Intergo~~ei7nnental - - 6,325 6,325
Fines andfoi~eitures 895,62~ 895,62~ 1,177,337 281,713
Charges for seiti~ices 1,571,~08 1,571,~08 917,88~ ( 653,52~)
In~~estment eai7ungs 100,000 100,000 29,252 ( 70,7~8)
Otlier 56,~09 56,~09 80,92~ 2~,515
Total re~~enues 18,162,83~ 18,162,83~ 17,863,096 ( 299,738)
EXPENDITURES
Current:
General go~~ei7nnent 2,673,2~1 2,673,2~1 2,406,185 267,056
Commuiun~ de~~elopment and engineeiing 1,379,3~8 1,379,3~8 1,3~5,987 33,361
Fire and rescue ~,01~,925 ~,01~,925 3,9~7,085 67,8~0
Leisure seiti~ices 2,982,738 3,020,997 2,777,85~ 2~3,1~3
Maintenance ~50,065 ~50,065 ~17,9~6 32,119
Muiucipal court 270,39~ 270,39~ 265,079 5,315
Police ~,~0~,179 ~,40~,179 ~,1~9,82~ 2~~,3»
Streets and drainage 2,7~~,~86 2J4~,~86 2,280,603 ~63,883
Capital outlay~ 1,0~3,838 1,0~3,838 1,0~6,~10 ( 2,572)
Total expenditures 19,963,21~ 20,001,~73 18,6~6,973 1,35~,500
EXCESS (DEFICIENC~ OF REVENUES
OVER (iTNDER) EXPENDITURES ( 1,800,380) ( 1,838,639) ( 783,877) 1,05~,762
OTHER FINANCING SOURCES (USES)
Transfers in 816,297 816,297 857,622 ~1,325
Transfers out - - ( 51~,112) ( 51~,112)
Sale of capital assets 3,000 3,000 65,306 62,306
Capitallease - 981,238 981,238 -
Total other financing sources and uses 819,297 1,800,535 1,390,05~ ( ~10,~81)
NET CHANGE IN FUND BALANCE ( 981,083) ( 38,10~) 606,177 6~~,281
FUND BALANCE, BEGINNING 8,207,~20 8,207,~20 8,207,~20 -
FUND BALANCE, ENDING $ 7,226,337 $ 8,169,316 $ 8,813,597 $ 6~~,281
The notes to the financial statements are an integral part of this statement.
35
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF NET ASSETS
PROPRIETARY FUNDS
SEPTEMBER 30, 2010
Enterprise Funds
~i ater and
Vdastewater Drainage Utility Tot~~l
ASSETS
Cuirent assets:
Cash and cash equivalents $ 4,234,036 $ 881,712 $ ~,ll~,748
InvesCments 2,~81,407 119,730 2,701,137
Accounts receivable, net of allowances 1,9~ 1,864 106,429 2,0~8,293
Other assets 118,491 - 118,491
Inventories 163,892 - 163,892
Tot~~l cuirent assets 9,049,690 1,107, 871 10,1 ~7,~61
Non-cuirentassets:
Accrued interestreceivable 1,889 8~ 1,974
Capital assets:
Land and improvement 313,0~7 - 313,0~7
Buildings ~3,922 - ~3,922
Utilitv svstem 64,0~2,216 4,082,431 68,134,647
Equipmentand furniture 1,076,410 ~11,1~2 1,~87,~62
Construction in pro~ress 446,408 32,872 479,280
Less accumulated depreciation ( 24,361,192) ( 912,233) ( 2~,273,42~)
Tot~~lnon-cuirentassets 41,~82,710 3,714,307 4~,297,017
Tot~~l assets ~0,632,400 4,822,178 ~~,4~4,~78
LIABILITIES
Cuirent liabilities:
Accounts payable 736,622 192 736,814
Accrued liabilities 43,676 8,677 ~2,3~3
Accrued interest payable ~ 1,274 9,948 61,222
Advances from developers 73,396 - 73,396
Customer deposits 414,764 - 414,764
Compensated absences 1~,33~ 2,7~0 18,08~
Revenue bonds payable 700,000 18~,000 88~,000
Tot~~l cuirent liabilities 2,03~,067 206,~67 2,241,634
Non-cuirent liabilities:
Compensated absences 61,342 10,998 72,340
Revenue bonds payable 3,820,000 1,~10,000 ~,330,000
Tot~~l non-cuirent liabilities 3,881,342 1,~20,998 ~,402,340
Tot~~l liabilities ~,916,409 1,727,~6~ 7,643,974
NET ASSETS
Invested in capit~~l assets, net of related debt 37,060,821 2,019,222 39,080,043
Restricted for debt service 983,22~ - 983,22~
Unrestricted 6,671,94~ 1,07~,391 7,747,336
Tot~~l net assets $ 44,71~,991 $ 3,094,613 $ 47,810,604
The accompanying notes are an integral part of these financial statements.
36
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND NET ASSETS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Enterprise Funds
Water and Drainage
Waste~~ater Utilin~ Total
OPERATING REVENUES
Metered~~atersales $ 8,152,807 $ - $ 8,152,807
Waste~~ater seiti~ice charges 2,583,176 - 2,583,176
Drainage seiti~ice charges - 879,726 879,726
Other charges and seiti~ices 5~2,832 17,635 560,~67
Miscellaneous 135,610 - 135,610
Total operating re~~enues 11,~1~,~25 897,361 12,311,786
OPERATING EXPENSES
Persoimel seiti~ices 1,952,279 385,9~9 2,338,228
Maintenance and conhactual seiti~ices 7,335,1~6 65,565 7,~00,711
Mateiials and supplies 170,930 33,198 20~,128
Depreciation and amortization 1,78~,198 87,522 1,871,720
Total operating expenses 11,2~2,553 572,23~ 11,81~,787
OPERATING INCOME (LOSS) 171,872 325,127 ~96,999
NON-OPERATING REVENUES (EXPENSES)
Interest and in~~esrinent re~~enues 12,6~9 2,509 15,158
Interest expense and fiscal charges ( 213,358) ( 82,930) ( 296,288)
Gain on sale of capital asset - 15,86~ 15,86~
Total non-operating re~~enues (expenses) ( 200,709) ( 6~,557) ( 265,266)
INCOME BEFORE CONTRIBUTIONS
AND TRANSFERS ( 28,837) 260,570 231,733
Capital contiibutions 1~7,01~ - 1~7,01~
Transfers out ( 857,622) - ( 857,622)
CHANGE IN NET ASSETS ( 739,~~5) 260,570 ( ~78,875)
TOTAL NET ASSETS, BEGINNING ~5,~55,~36 2,83~,0~3 ~8,289,~79
TOTAL NET ASSETS, ENDING $~~,715,991 $ 3,09~,613 $~7,810,60~
The accompanying notes are an integral part of these financial statements.
37
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Enteiprise Funds
Water and Drainage
Waste~~~ater Utilin~ Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Cashreceivedfromcustomers $ 11,116,835 $ 892,731 $ 12,009,566
Cash paid to suppliers for goods and seivices ( 1,95~,946) ( 378,664) ( 2,33~4,610)
Cash paid to employees for services ( 7,363,383) ( 102,899) ( 7,~466,282)
Net cash provided by operating activities 1,797,506 411,168 2,208,674
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers out ( 857,622) - ( 857,622)
Net cash used for noncapital
~mancing activities ( 857,622) - ( 857,622)
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of capital assets ( 74~,741) ( 8,620 ) ( 7~4,361)
Gain/(loss) on sale of asset - 15,864 15,864
Principal paid on debt ( 680,000) ( 175,000) ( 855,000)
Interest paid on debt ( 213,358) ( 82,930) ( 296,288)
Net cash used for capital and
related financing activi~ies ( 1,639,099) ( 250,686) ( 1,889,785)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase (sale) of invesT~nents ( 1,104,354) 30,351 ( 1,074,003)
Earnings on investrnents 12,649 2,509 15,158
Net cash provided (used) by investing ac~ivities ( 1,091,705) 32,860 ( 1,058,845)
NET INCREASE IN CASH
AND CASH EQUIVALENTS ( 1,790,920) 193,342 ( 1,597,578)
CASH AND CASH EQUIVALENTS, BEGINNING 6,024,956 688,370 6,713,326
CASH AND CASH EQUIVALENTS, ENDING $ 4,234,036 $ 881,712 $ 5,115,748
(continued)
38
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
(Continued)
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Reconcilia~ion of operating income (loss) to net cash
provided (used) by operating ac~ivi~ies:
Operating income
Adjustrnents to reconcile operating income (loss)
to net cash provided by (used for) operating ac~ivities:
Depreciation and amortization e~pense
Changes in assets ~uid liabilities:
Decrease (ulcrease) ul assets:
Accounts receivable
Inventoiv
Acciued interest receivable
Increase (decrease) in liabilities:
Accounts pa~•able
Acciued liabilities
Compensated absences payable
Customer deposits
Acciued interest payable
Net cash provided by operations
Noncash investing, capital, and financing activities:
ConT~ibutions of capital assets
Enteiprise Funds
Water and Drainage
Waste~~~ater Utilin~ Totals
$ 171,872 $ 325,127 $ 496,999
1,784,198 87,522 1,871,720
( 304,>j0) ( 4,630) ( 309,180)
18,~41 - 18,~41
5,114 1,099 6,213
12~,961 ( 4,316) 121,64~
( 208) 1,059 851
( 3,4~9) 6,226 2,767
6,960 - 6,960
( 6,923) ( 919) ( 7,842)
$ 1,797,506 $ 411,168 $ 2,208,674
$ 147,014 $ - $ 147,014
The notes to the financial statements are an integral part of this statement.
39
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF FIDUCIARY NET ASSETS
FIDUCIARY FUNDS
SEPTEMBER 30, 2010
ASSETS
Cash and investments
Total assets
LIABILITIES
Due to other agencies and individuals
Total liabilities
The accompanying notes are an integral part of these financial statements.
Agenc~T Fund
$ 24,588
$ 24,588
$ 24,588
$ 24,588
40
CITY OF COLLEYVILLE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2010
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 Entitv
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 Econonuc 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 parlc
improvements, the purchase of land and improvements for additional neighborhood parlcs,
the constniction 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)
41
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
A. Reporting Entitv (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 seven-
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.
Discretely Presented Component Unit - Colleyville Tax Increment Financing Reinvestment
Zone Number One (the TIF) was formed to malce public improvements, under the authority
of the Tax Increment Financing Act. The TIF is governed by a 9-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 maj ority of the
unit's governing body and the City has a potential econonuc benefit from this unit.
Therefore, the TIF is presented in the accompanying financial statements as a discretely
presented component unit. Complete financial statements for the TIF inay be obtained from
the City of Colleyville Finance Department, 100 Main Street, Colleyville, Texas 76034.
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. Uove~nniental 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. Lilcewise, the
p~inia~y gove~nnient is reported separately from certain legally separate coniponent 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. Di~ect expenses are those that are clearly
identifiable with a specific function or segment. P~og~ani ~evenue 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 gene~al ~evenue.
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)
42
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 econoniic ~esou~ces
nieasu~enient focus and the acc~ual 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 tinung 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 cu~~ent financial ~esou~ces
nieasu~enient focus and the niodi~ed acc~~ual 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 accnial 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 accnial 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'
Gove~nmentccl 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:
The Gene~ccl 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.
The Debt S'e~vice 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)
43
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
(Continued)
GOVERNMENTAL FUND,S' (Continued)
The Cccpitccl P~oiects Fund - is used to account for financial resources to be
used for the acquisition or constniction 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:
The Speciccl Revenue Fund - accounts for the revenues and expenditures
associated with a special project or purpose.
PROPRIETARY FUNDS'
P~op~ietcc~y 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 maj or proprietary funds:
The Wccte~ ccnd Wccstewccte~ 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 deternunation 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.
The D~ccincc~e Utilitv 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 linuted tq adnunistration, operations, maintenance,
billing and collections.
(continued)
44
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
(Continued)
FIDUCIARY FUND,S'
A~encv Fund - Fiducicc~y Funds are used to account for assets held by the
City in a tnistee 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.
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 linutation. The City has elected not to follow subsequent private-sector
guidance.
As a general nile, the effect of interfund activity has been elinunated from the government-
wide financial statements. Exceptions to this general nile 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 p~og~ani ~evenues 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 gene~al ~evenues 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)
45
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 marlcet interest rate changes.
F. Receivables and Pavables
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, 2010.
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 Febniary 1 of the
following year.
G. Inventories
Inventories in the Enterprise Fund are valued at cost (first-in, first-out method).
(continued)
46
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
H. Capital Assets
Capital assets, which include property, plant, equipment and infrastnicture assets (e.g. roads,
bridges, sidewallcs 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 constnicted. 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.
Maj or outlays for capital assets and improvements are capitalized as proj ects are constnicted.
Property, plant and equipment is depreciated using the straight-line method over the
following estimated useful lives:
Assets
Years
Buildings 15 - 50
Improvements 20 - 50
Equipment 5 - 10
Infrastructure (streets and drainage) 50
Water distribution/se~~~er collection 5- 40
L 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
ternunation, an employee is paid for all accumulated, unused vacation. Vacation pay is
accnied as it vests to the employee. Sick pay is recorded when paid or upon retirement when
a maximum of 90 days is paid. The accnied siclc 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 accnied when
incurred in the government-wide and proprietary fund financial statements.
(continued)
47
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
K. Lon~-term Obli~ations
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 prenuums 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 talcen as a whole.
L. Fund Equitv
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 Mana~ement
Insurance coverage for property, liability and worlcers' compensation is provided by the
Texas Municipal League Intergovernmental Rislc Pool, a state insurance pool. Contributions
to the Rislc Pool for worlcers' compensation are based on the City's past claims history. The
Rislc Pool is self-sustaining through members' contributions and maintains insurance to limit
rislc of loss with an external insurance company. Settlement claims have not exceeded
aggregate linuts in the past three fiscal years.
48
2. RECONCII,IATION 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 fsnd balance - total
gove~nniental fsnds and net assets - gove~nniental 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 $(23,567,585) difference are as follows:
Bonds pa5~able $( 21,872,824)
Less: deferred costs on issuance costs 252,709
Capital leases pa5~able ( 1,151,173)
Accrued interest pa5~able ( 154,870)
Compensated absences ( 641,427)
Net adjustment to reduce fi~ncl balance - total
governinental fi~ncls to arri~-e at net assets -
governinental activities $( 23,567,585)
Explanation of Certain Differences Between the Governmental Fund Statement of Revenue,
Expenditures and Chan~es in Fund Balances and the Government-wide Statement of
Activities
The governmental fund statement of revenue, expendinires and changes in fund balances
includes a reconciliation between net changes in fznd balances - total gove~nniental fsnd and
changes in net assets of gove~nniental 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 $1,412,955 difference are as follows:
Capital outla~~ $ 4,935,053
Depreciation e~pense ( 3,522,098)
Net adjustment to increase net changes in fi~ncl balances -
total governinental fi~ncls to arri~-e at changes in net
assets ofgoverninental activities $ 1,412,955
(continued)
49
2. RECONCII,IATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
(Continued)
Explanation of Certain Differences Between the Governmental Fund Statement of Revenue,
Expenditures and Chan~es 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
$73,794 difference are as follows:
Propet-t~ ta~es $ 83,272
Ambulance re~-enue ( 9,492)
Adjudicated fines 14
Net adjustment to increase net changes in fi~ncl balances -
total governinental fi~ncls to arri~-e at changes in net
assets ofgoverninental activities $ 73,794
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 $1,169,995
difference are as follows:
Principal payments and refundings $ 2,151,233
Issuance of debt (981,238)
Net ad,justment to reduce fi~ncl balance -total
governinental fi~ncls to arri~-e at net assets -
governinental activities $ 1,169,995
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 ($62,759) difference are as follows:
Compensated absences $( 36,277)
Accrued interest ( 26,482)
Net adjustment to decrease net changes in fi~ncl balances -
total governinental fi~ncls to arri~-e at changes in net
assets ofgoverninental activities $( 62,759)
50
3. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Bud~etarv 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 subnuts 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, 2010.
(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 capital outlay exceeded appropriations by $2,572. These
overages were funded by under spending in other functions.
(continued)
51
3. STEWARDSHIP, COMPLIANCE AND ACCOUNTABII,ITY (Continued)
A. Bud~etarv Data (Continued)
Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other commitments
for the expendinire 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.
4. DETAILED NOTES ON ALL FUNDS
Deposits and Investments
As of September 30, 2010, the City had the following investments:
Investment T~~pe
Fair
V alue
Weighted Average
Maturit~ (Da~ s)
L(_)GIC
U. S. Treasuries and Agencies
Total fair value
$ 27,783,~82
13~2~R~71 1
$ 41,042,293
40
288
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 rislc 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
portfoliq (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 marlcet savings accounts, (5) repurchase agreements, (6) banlcers
acceptances, (7) Mutual Funds, (8) investment pools, (9) guaranteed investment contracts, and
(10) common tnist 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.
(continued)
52
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Deposits and Investments (Continued)
The City's investment pools are 2a7-lilce pools. A 2a7-lilce 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.
Inte~est Rccte Risk. In accordance with its investment policy, the government manages its
exposure to declines in fair marlcet values by limiting the average dollar weighted maturity of its
investment portfolios to a maximum of 180 days.
Custodiccl C~edit Risk. In the case of deposits, this is the rislc that in the event of a banlc failure,
the City's deposits may not be returned to it. As of September 30, 2010, $1,876,947 of the
City's $2,376,947 deposit balance was collateralized with securities held by the pledging
financial institution. The remaining balance, $500,000, was covered by FDIC insurance.
C~edit Risk. It is the City's policy to linut 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 & Poor's
Investors Service.
LOGIC
AAAin
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 Funds Enterprise Funds
Capit~~l Nonmajor Vdater and Drainage
General Projects Funds Vdastewater Utilitv Tot~~l
Recei~ables:
Accounts $ 40~,292 $ - $ - $ 1,969,273 $ 106,429 $ 2,480,994
Tases 266,~~1 - ~7,999 - - 324,~~0
Due from other
governments 4~~,234 - 398,671 - - 8~3,90~
Accrued interest 9,220 2,0~4 1,~13 1,889 8~ 14,761
Grossreceivables 1,136,297 2,0~4 4~8,183 1,971,162 106,~14 3,674,210
Less: allowance for
uncollectibles ( 323,838) - - ( 17,409) - ( 341,247)
Nettotalreceivables $ 812,4~9 $ 2,0~4 $ 4~8,183 $ 1,9~3,7~3 $ 106,~14 $ 3,332,963
(continued)
53
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Receivables (Continued)
Governmental funds report defe~~ed ~evenue 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 defe~~ed ~evenue and
unea~ned ~evenue reported in the governmental funds were as follows:
T7n~~~~il~hle T7ne~rnerl
General fimd
Delinquent propei~~ taxes recei~~able $ 266,551 $
Otlier ~6,57~
Total general fimd 323,125
Debt seiti~ice fund
Delinquent propei~~ taxes recei~~able 57,999
Total debt seiti~ice fimd 57,999
Total go~~ei7nnental fimds $ 381,12~ $ -
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 2010 levy was
based, was $3,765,255,594.
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. Alsq 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 constniction, 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, 2010, was $.3559 per
$100 of assessed valuation.
Taxes are due by January 31 following the levy date. Tax collections, including related penalties
and interest, was $12,474,444 for the year ended September 30, 2010. Property taxes receivable
at September 30, 2010, were $324,550.
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.
(continued)
54
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Capital Assets
Capital asset activity for the year ended September 30, 2010, was as follows:
Primary Government
(Uovei7unental activities:
Capit~~l assets, not being depreciated:
Land
Construction in progress
Tot~~l assets not being depreciated
Capital assets, being depreciated:
Buildings and improvements
l~7achineiv and equipment
Infrastructure
Total capital assets being depreciated
Less accumulated depreciation:
Buildings and improvements
l~7achineiv and equipment
Improvements other than buildings
Tot~~l accumulated depreciation
Tot~~l capital assets being depreciated, net
Governmental activities capit~~l
assets, net
Beginning
Balance Licreases Decreases
$ 9,293,6~4 $ -
2,140,424 2,621,471
11,434,078 2,621,471
40,~36,708
7,364,496
7~,202,099
123,103,303
3,071,037
2,3~6,~82
R29,419
6,2~7,038
8,89~,222) ( 1,34~,69~
5,891,694~ ( 655,191~
16,565,68~ ( 1,521,23~
31,352,601~ ( 3,522,098~
91,7~0,702 2,734,940
Ending
Balance
$ - $ 9,293,6~4
( 3,~46,~20) 1,21~,37~
( 3,~46,~20) 10,~09,029
- 43,607,74~
( ~40,412) 9,180,666
- 76,031,~18
( ~40,412) 128,819,929
10,240,919)
~40,412 ( 6,006,4~3~
- ( 18,086,91 ~
~40,412 ( 34,334,28~
- 94,4R~,642
$ 103,184,780 $ ~,3~6,411 $( 3,~46,~20) $ 104,994,671
(continued)
55
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Capital Assets (Continued)
Beginning Ending
Balance Licreases Decreases Balance
Business-type activities:
Capital assets, not being depreciated:
Land $ 313,0~7 $ - $ - $ 313,0~7
Construction in pro~ress 361,742 1,340,438 ( 1,222,900) 479,280
Tot~~l assets not being depreciated 674,799 1,340,438 ( 1,222,900) 792,337
Capital assets, being depreciated:
Buildings and improvements ~3,922 - - ~3,922
l~7achineivandequipment 1,740,48~ - ( 1~2,923) 1,~87,~62
Improvementsotherthanbuildings 67,391,621 810,927 ( 67,901) 68,134,647
Tot~~l capit~~l assets being depreciated 69,186,028 810,927 ( 220,824) 69,776,131
Less accumulated depreciation:
Buildings and improvements ( 46,36~) ( 719) - ( 47,084)
l~7achineivandequipment ( 2,3~8,216) ( 91,718) 1~2,923 ( 2,297,011)
Improvements other than buildings ( 21,211,684) ( 1,7~8,4~6) 40,810 ( 22,929,330)
Tot~~l accumulated depreciation ( 23,616,26~) ( 1,8~0,893) 193,733 ( 2~,273,42~)
Tot~~l capit~~l assets being depreciated, net 4~,~69,763 ( 1,039,966) ( 27,091) 44,~02,706
Business-t~pe acti~ities capital assets, net $ -46,244,~62 $ 300,472 $( 1,249,991) $ 4~,29~,043
Component unit:
Capit~~l assets, not being depreciated:
Constructioninprogress $ 3,366,~~9 $ 817,140 $ - $ 4,183,699
Tot~~l assets not being depreciated 3,366,~~9 817,140 - 4,183,699
Capital assets, being depreciated:
Improvementsotherthanbuildings $ 1,800,940 $ - $ - $ 1,800,940
Tot~~l capit~~l assets being depreciated 1,800,940 - - 1,800,940
Less accumulated depreciation:
Improvements other than buildings $( 36,019) $( 36,019) $ - $( 72,038)
Tot~~l accumulated depreciation ( 36,019) ( 36,019) - ( 72,038)
Tot~~l capital assets being depreciated, net 1,764,921 ( 36,019) - 1,728,902
Component unit capit~~l assets, net $ ~,131,480 $ 781,121 $ - $ ~,912,601
(continued)
56
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Capital Assets (Continued)
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General Qovernment $ 263,350
Fire and rescue 4~6,891
Leisure services 939,282
Maintenance ~,029
Police 274,~2~
Streets and drainaQe 1,~83,021
Total depreciation expense - governmental activities $ 3,~22,098
Business-t~ pe acti~•ities:
Water and ~~~aste~~~ater $ 1,763,371
I)rainaQe utilitv g~,~22
Total depreciation expense - business-type activities $ 1,8~0,893
Construction Commitments
The government has active constniction projects as of September 30, 2010 . The major projects
are listed as follows:
Remaining
Proj ect Spent-to-date Commitment
Ulade and Pool intersection $ 684,319 $ 115,420
Librar~ second floor elpatisioti 63,2~2 ~20,3~2
Total $ 747,~81 $ 63~,772
Interfund Receivables, Pavables and Transfers
The composition of interfund balances as of September 30, 2010, is as follows:
Interfund Transfers
Transfer In
Nonmajor
Capital Government
General Projeets Funds
Transfer Out:
General $ - $ 378,334 $ 135,778
Nonmajorgovernmental - - ~13,162
Water and ~~aste~~ater 8~7.622 - -
Total Transfers Out $ 8~7,622 $ 378,334 $ 648,940
(continued)
Total
~ 514,112
513,162
8~7,622
$ 1,884,896
57
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Interfund Receivables, Pavables and Transfers (Continued)
Interfund Transfers (Continued)
The transfer of $857,622 from the Utility Fund to the General Fund represents the 2010
Administrative transfer and the franchise fee based on gross water and wastewater revenue of the
prior year's audited financial statements. The transfer of $378,334 from the General Fund to the
Capital Projects and nonmajor governmental funds represents transfers for capital replacement.
The transfer of $498,162 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 banlc account.
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:
Uovernmental Business-t~~pe
Acti~ ities Acti~ ities
Asset:
Machiner~~ and equipment $ 1,628,404 $ 71,077
Less: accumulated depreciation ( 363,257) ( 47,584)
Total $ 1,265,147 $ 23,493
The future minimum lease obligations and the net present value of these minimum lease
payments as of September 30, 2010, were as follows:
Uovernmental Business-t~~pe
Acti~ ities Acti~ ities
2011
2012
2013
2014
2015
2016-2020
Total minimum lease pa~~ments
Less: amount representing interest
Present value of minimum lease pa~~ments
(continued)
$ 204,739 $ -
204,739 -
166,~62 -
166,~62 -
166,~62
467,3» -
1,376,~ 19 -
( 22~,346) -
$ 1,151,173 $ -
58
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Lon~-term Liabilities
General Obligation Bonds
The government issues general obligation bonds to provide funds for the acquisition and
constniction 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 $23,375,000.
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:
Interest Rates
Go~ ertunental acti~ ities
3.64% - ~.60% $ 21,872,824
$ 21,872,824
Long-term liability activity for the year ended September 30, 2010, was a follows:
Balance Balance Amounts
September 30, September 30. I)ue Within
2009 Additions Retirements 2010 One Year
Governmental activities
General obliQation bonds and
certiFicates of obliQation $ 14,66~.000 $ - $ L36~.000 $ 13,300.000 $ 1.780.000
Sales tax revenue bonds 9,199,370 - 626,~46 8,~72,824 300,000
CapitalleaseobliQations 359.996 981.238 190.061 L1~L173 179.003
Compensated absenees 60~,1~0 ~28,6~3 492,376 641,427 128,28~
Total governmental aetivities 24,829,~16 1,~09,891 2,673,983 23,66~,424 2,387,288
Business-h'ue activities
Revenue bonds and certiFicates
ofobliQation 7,070.000 - 8>j.000 6.21~.000 88~.000
Compensated absenees 87,6~8 14~,040 142,273 90,42~ 18,08~
Total business-tvpe aetivities 7,1~7,6~8 14~,040 997,273 6,30~,42~ 903,08~
Total primary government $ 31,987,174 $ 1,6~4,931 $ 3,671,2~6 $ 29,970,849 $ 3,290,373
Component unit
Tax increment Financina fund
revenue bonds $ 6,300,000 $ - $ 4~0,000 $ ~,8~0,000 $ 470,000
Total component unit $ 6,300,000 $ - $ 4~0,000 $ ~,8~0,000 $ 470,000
For the governmental activities, compensated absences are generally liquidated by the General
Fund.
(continued)
59
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Long-term Liabilities (Continued)
Governmental activities long-term liabilities at September 30, 2010, consisted of the following:
General obligation bonds and certificates of obligation serviced by property tax revenue:
$9,045,000 Series 2001 General Obligation Bonds due in annual
installments of $55,000 to $1,030,000 through February 15, 2014;
interest at 4.00% to 4.60%.
$3,000,000 Series 2002 Tax and Waterwarks and Sewer System Surplus
Revenue Certificates of Obligation Bonds due in annual installments of
$110,000 to $170,000 through February 15, 2020; interest at 4.20% to
4.70%.
$4,895,000 Series 2006 General Obligation Refunding bonds due in
annual installments of $25,000 to $540,000 through February 15, 2019;
interest at 3.64%.
$4,575,000 Series 2007 General Obligation Bonds due in annual
installments of $50,000 to $555,000 through February 15, 2027; interest
at 4.00% to 5.00%.
$ 2,895,000
1,365,000
4,565,000
4,475,000
Total General Obligation Bonds and Certificates of Obligation $ 13,300,000
$9,570,000 Seiies 2005 Colley~~~ille Economic De~~elopment Corporarion
Refunding and Impro~~ement Sales Tax Re~~enue Bonds due in aimual
ii~stallments of $20,000 to $635,000 tluough Febi~uaiti~ 15, 2029; interest
at ~.10% $ 8,5~5,000
Unamortized gain on refunding 27,82~
Total Re~~enue Bonds $ 8,572,82~
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.
(continued)
60
4.
DETAII,ED NOTES ON ALL FUNDS (Continued)
Long-term Liabilities (Continued)
The City's defeased debt as of September 30, 2010, was $12,194,035.
Business-type activities long-term liabilities at September 30, 2010, consisted of the following:
Water and Waste~~,~ater Fund:
$4,220,000 Series 1996 Water~~,~orks and Waste~~,~ater S~~stem Revenue
and Refunding Bonds due in annual installments of $1O0,000 to
$335,000 through Januar~~ 1, 2017; interest at 3.75% to 5.60%. $ 1,19O,000
$2,825,000 Series 1998 Water~~,~orks and Waste~~,~ater S~~stem Revenue
Bonds due in annaul installments of $85,000 to $220,000 through
Januar~~ 1, 2018: interest at 425% to 6.75%. 1,470,000
$2,580,000 Series 2002 Water~~,~orks and Waste~~,~ater S~~stem Revenue
Bonds due in annual installments of $130,000 to $255,000 through
Januar~~ 1, 2015: interest at 2.00% - 4.00%. 1,120,000
~ 1,71 ~,~~~ Series 2~~4 W ater~~,~orlcs and W aste~~,~ater S~~stem 1Zeii~nding
Bonds due in annual installments of $150,000 to $195,000 through
Januar~~ 1, 2014; interest at 3.73%. 740,000
Total Water and Waste~~,~ater Fund $ 4,520,000
I)rainage Utilit~~ Fund:
$3,025,000 Series 2001 Municipal Drainage Utilifi S~~stem Revenue
Bonds due in annual installments of $85,000 to $220,000 through
Februar~~ 15, 2021; interest at 4.00% to 5.00%. ~ 1,695,000
Total I)rainage Utilit~~ Fund $ 1,695,000
Total Busitiess-t~pe acti~ities $ 6,21~,00O
The ordinances authorizing the issuance of Waterworks and Wastewater System Revenue Bonds
created the Interest and Sinlcing Fund and Reserve Fund. The gross revenue of the waterworlcs
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, 2010, the
City was in compliance with these requirements.
(continued)
61
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Long-term Liabilities (Continued)
The City's component unit, the Tax Increment Financing District, long-term liabilities at
September 30, 2010, consisted of the following:
Tal Increment Financing I)istrict
$680,000 Series 2002 Tal and Tal Increment Revenue Certi~icates of
Obligation due in installments of $25,000 to $40,000 beginning in 2004
through Februar~~ 2012; interest at 4.00% to 5.00%.
$7,285,000 Series 2001 Tal Notes due in installments of $350,000 to
$660,000 beginning in 2006 through Februar~~ 15, 2020; interest at
4.30% to ~.00%.
Total Tal Increment Financing I)istrict
Governmental Activities
$ 470,000
5,380,000
$ ~,8~0,00O
General
Obligation Bonds and
Certificates of Obligation Re~~enue Bonds
September 30, Principal Interest Principal Interest
2011 $ 1,780,000 $ ~97,873 $ 300,000 $ 3~~,195
2012 1,605,000 ~28,856 315,000 331,588
2013 1,270,000 369,889 330,000 318,365
201~ 1,000,000 323,207 3~0,000 30~,630
2015 735,000 288,32~ 355,000 290,383
2016-2020 3,535,000 993,723 2,025,000 1,21~,523
2021-2025 2,290,000 ~55,000 2,~85,000 75~,093
2026-2030 1,085,000 ~3,900 2,395,000 201,~13
$ 13,300,000 $ 3,400,772
$ 8,5~5,000 $ 3,759,190
Business-type Activities
September 30,
2011
2012
2013
2014
2015
2016-2020
2021-2025
Revenue Bonds
Principal Interest
$ 885,000 $ 266,101
935,000 227,618
970,000 186,686
1,005,000 143,189
715,000 103,499
1,575,000 173,127
130,000 133250
$ 6,215,000 $ 1,233,470
(continued)
62
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Long-term Liabilities (Continued)
Discretely Presented Component Unit -
Tax Increment Financing Fund
Re~~enue Bonds
September 30, Principal Interest
2011 $ ~70,000 $ 269,179
2012 ~90,000 2~7,718
2013 515,000 22~,980
201~ 5~0,000 200,9~2
2015 565,000 175,256
2016-2020 3,270,000 ~23,118
$ 5,850,000 $ 1,5~1,193
Emplovees' Retirement Svstem
Plan Description
The City provides pension benefits for all of its eligible employees through a non-traditional, joint
contributory, hybrid defined benefit plan in the statewide Texas Municipal Retirement System
(TMRS), an agent multiple-employer public employee retirement system. The plan provisions that
ha~e been adopted by the City are within the options available in the governing state statutes of
TMRS.
TMRS issues a publicly available comprehensive annual financial report that includes financial
statements and required supplementary information (RS~ for TMRS; the report also provides
detailed explanations of the contributions, benefits and actuarial methods and assumptions used by
the System. This report may be obtained by writing to TMRS, P. O. Box 149153, Austin, Texas
78714-9153 or by calling 800-924-8677; in addition, the report is available on TMRS' website at
www. TMRS. com.
The plan provisions are adopted by the governing body of the City, within the options available in
the state stat~ites governing TMRS. Plan provisions for the City were as follows:
Plan Year 2009
Employ~ee deposit rate 7.0%
Matclung ratio (cin~ to employ~ee) 2 to 1
Years required for ~~esting 5
Seiti~ice rerirement eligibilin~
(eapressed as age/y~ears of seiti~ice) 60/5, 0/20
Updated seiti~ice credit 100% repeating
trai~sfers
Aimuity increase (to retirees) 70% of CPI
repeating
(continued)
Plan Year 2010
7.0%
2 to 1
~
60/5, 0/20
100% repearing,
hai~sfers
70% of CPI
repearing
63
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Emplovees' Retirement Svstem (Continued)
Contributions
Under the state law governing TMRS, the contribution rate for each City is determined annually
by the actuary, using the Projected Unit Credit actuarial cost method. This rate consists of the
normal cost contribution rate and the prior service cost contribution rate, which is calculated to
be a level percent of payroll from year to year. The normal cost contribution rate finances the
portion of an active member's projected benefit allocated annually; the prior service contribution
rate amortizes the unfunded (overfunded) actuarial liability (asset) over the applicable period for
that city. Both the normal cost and prior service contribution rates include recognition of the
projected impact of annually repeating benefits, such as Updated Service Credits and Annuity
Increases.
The City contributes to the TMRS Plan at an actuarially determined rate. Both the employees
and the City make contributions monthly. Since the City needs to lcnow 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. The annual
pension cost and net pension obligation/(asset) are as follows:
Accounting Annual Percentage Net
Year Pension of AI'C Pension
Ending Cost (AI'C) Contributed Obligation
09/30/08 $ 1,1~6,84~ 100% -
09/30/09 1,360,993 100% -
09/30/10 1,>j8,614 100% -
The required contribution rates for fiscal year 2010 were deternuned as part of the December 31,
2007 and 2008 actuarial valuations. Additional information as of the latest actuarial valuation,
December 31, 2009, also follows:
Actuarial ValuationDate 12/31/07 12/31/08
Actuarial cost method Projected Unit Credit Projected Unit Credit
Amortization method Level percent Level percent
of pa~ roll of pa~ ro11
Remaining amortization period 29 vears - closed 29 vears - closed
Asset valuation method Amortized cost Amortized cost
Actuarial Assumptions
InvesT~nent rate of retum 7.5% 7.5%
Projected salaiv increases varies by age varies by age
and seivice and seivice
Inflation 3.0% 3.0%
Cost-of-living adjustrnents 2.1% 2.1%
(continued)
12/31 /09
Projected Unit Credit
Level percent
of pa~ ro11
28 vears - closed
10-vear smoothed
marl.et
7.~%
vaiies by age
and seivice
3.0%
2.1%
64
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Emplovees' Retirement Svstem (Continued)
Schedule of Funding Information
The funded status as of December 31, 2009, the most recent actuarial valuation date, is as
follows:
.~ctual ~"aluation Date 12 31 09 12; 31 OR 12 31 07
Actuarial value of assets $ 24,~73,182 $ 23,644,963 $ 21,2~7,894
Actuarial accrued liabilitv 32,867,149 31,826,~~7 28,297,826
Percentfunded 74.8°'0 74.3°'0 7~.1°0
Unfunded (overfunded) actuarial accrued linbility (Lr~~L) 8,293,967 8,181,~94 7,039,932
Annual covered payroll 10,436,294 10,348,960 9,383,7~~
L? ~~L as a percentage of covered paVroll 79.~°'0 79.1°'0 7~.0°0
Water and Wastewater Contracts
The City has two contracts with the Trinity River Anthority of Texas (TRA) for the pL~rchase of treated
water and for the transportation, treatment and disposal of sanitary sewage and other waste. The initial
ternis of the contracts are 35 and 50 years, and they e~pire in 2014 and 2023. While the provisions of
each of the contracts vary, each contract basically reqL~ires the City to pay varying amoLUlts based on
the costs associated with water pL~rchased and sewage transported and/or treated and disposed. The
cost inclndes the City's proportionate share of TRA's operating and maintenance e~penses, related debt
service costs, and certain other nuscellaneons charges. PL~rchases of treated water and charges for the
transportation, treatment and disposal of sewage and other wastes dL~ring fiscal year 2010 amoLUlted to
approximately $5,842,017 and $1,036,246, respectively.
Advances from Develoners
Developers are reqL~ired by ordinance to constrnct perimeter streets and related storm drainage
facilities. The developer may reqnest a waiver from the CoLU1ci1 for the constrnction reqL~irements
and instead deposit escrow fiulds with the City eqnal to one-half of the estimated cost of
constrnction, which are ntilized by the City to complete the project at some later date. At September
30, 2010, developers had escrowed $237,455 with the City in connection with developer agreements.
Contingent Liabilities
The City has been named as a defendant or co-defendant in a nLmiber of legal actions. While the
ontcome of these cases is not known at this time, City management believes that any awards to
insL~red parties which mnst be paid in excess of amoLUlts covered by insL~rance will not be material to
the financial position of the City.
(continued)
65
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Risk Financin~ and Insurance
The City is e~posed to varions risks of loss related to torts, theft of, damage to, and destrnction of
assets; errors and onussions; injL~ries to employees; and natL~ral disasters. DL~ring the fiscal year
1974, the City joined the Texas MLUlicipal Leagne Worlcers Compensation Joint InsL~rance FLU1d for
risks related to employees. DL~ring the fiscal year 1992, the City joined the Texas ML~nicipal Leagne
Joint InsL~rance FLU1d for rislcs related to general liability, property and errors and onussions.
PrenuLmis are paid to the Pool, which retains a linut of loss. ReinsL~rance companies insL~re the rislcs
beyond those linuts. The City retains, as a rislc, only the dednctible amoLUlt of each policy. There
ha~e been no significant rednctions in insL~rance coverage and no settlements exceeded insL~rance
coverage in the past three fiscal years.
Other Postemplovment Benefits
Supplemental Death Benefits Fund
The City also participates in the cost sharing multiple-employer defined benefit group term life
insurance plan operated by the Texas Municipal Retirement System (TMRS) lcnown as the
Supplemental Death Benefits Fund (SDBF). The City elected, by ordinance to provide group
term life insurance coverage to both current and retired employees. The City may ternunate
coverage under and discontinue participation in the SDBF by adopting an ordinance before
November 1 of any year to be effective the following January 1.
The death benefit for active employees provides a lump sum payment approximately equal to the
employee's annual salary (calculated based on the employee's actual earnings, for the 12-month
period preceding the month of death); retired employees are insured for $7,500; this coverage is
an "other postemployment benefit," or OPEB.
Schedule of Contribution Rates
Annual Actual
Accounting Required Contribution Percentage
Year Contribution Made of ARC
Ending (Rate) (Rate) Contributed
09/30/08 O 1% O 1% 100%
09/30/09 02% 02% 100%
09/30/ 10 O 1% O 1% 100%
Subsequent Event
The City has issued bonds in October of 2010. The Waterworks and Sewer System Revenue
Refunding Bonds, Series 2010 were sold on October 12, 2010, and were in the amount of
$3,120,000. The interest rates of the bonds range from 2.0% to 3.0%. These bonds fully
refunded the Series 1996 and Series 1998 debt issues. It also partially refunded the Series 2002
bonds.
66
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Speciccl Revenue Funds are used to account for specific revenues that are legally restricted to
expenditure for particular purposes.
Voluntcc~y Pcc~k - This fund is used to account for the operations for which voluntary
contributions by citizens are used. Contributions are used primarily to support parlc
activities.
Voluntcc~y Lib~cc~y - 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 Fo~feitu~e -This fund is used to account for activity related to seiziire of assets
in criminal-related activities.
T~ee P~ese~vcction - 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.
Lib~cc~y Doncction - This fund is used to account for private and corporate donations for
capital purchases related to the library building for the City.
Rec~ecctionccl Event - This fund is used to account for activities related to athletic events for
the City.
Colleyville Cente~ Development - This fund is used to account for contributions received to
constnict 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.
LEOSE (Lccw Enfo~cement Office~ S'tccndcc~ds ccnd Educcction) - 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 parlc improvements, the purchase of land and
equipment for additional neighborhood parks and for the constniction of a community center
and library.
C~ime Dist~ict - 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.
67
Kidsville Mccintenccnce - This fund is used to account for contributions received for the
maintenance of Kidsville Playground.
Speciccl Doncctions - This fund is used to account for various donations made to the City for
specific projects.
Cou~t Technology - This fund is used to account for the collection and use of fines collected to
be specifically used on technology for the court.
TDPA G~ccnt - This fund is used to account for grant proceeds received for the acquisition of
equipment and expenditures relating to fire and rescue.
Cou~t S'ecu~ity - This fund is used to account for the collection and use of fines collected to be
specifically used for security purposes.
Cccpitccl ccnd Cccble Equipment Replcccement - This fund is used to account for the replacement
of cable equipment and other capital equipment.
.S'ccles Tc~ Incentive Ag~eement - This fund is used to account for the repayment of sales tax
incentive agreements.
Public A~t - This fund is used to account for the acquisition of art to be placed in City owned
facilities with high public visibility.
CAPITAL PROJECTS FUNDS
Cccpitccl P~ojects Funds are used to account for the acquisition and constniction of major capital
facilities other than those financed by proprietary funds and tnist funds.
Colleyville Tomo~ow Fund - is used to account for proceeds received on gas leases on City-
owned property to be used for capital purchases.
Pcc~ks Tomo~ow Fund - This fund is used to account for proceeds received on gas leases on
City-owned parks property for parks capital proj ects.
Pcc~klccnd Dediccction Fund - This fund is used to account for the acquisition of land for new
parlc sites and to malce improvements to or expand existing parlcs to better serve new
development. Fees collected from the developers of residential and commercial development
finance the improvements.
Colleyville Economic Development Co~po~cction (CEDC) - This fund is used to account for
financial resources to be used for the acquisition of constniction of CEDC capital facilities.
Financing is provided primarily by the revenue from certificate of obligation bonds.
Kimzey Pcc~k - This fund is used to account for the constniction of Kimzey Parlc. The source of
funding was a Texas Parlcs and Wildlife state grant.
68
THIS PAGE INTENTIONALLY LEFT BLANK
69
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2010
ASSETS
Cash and cash equi~~alents
In~~estments
Taxes recei~~able, net
Due from other go~~ei7nnents
Acciued interest
Total assets
LIABILTTIES AND FUND BALANCES
Liabilities:
Accounts pay~able
Acciued liabiliries
Defei7ed re~~enue
Ad~~ances from de~~elopers
Total liabilities
Fund balances:
Reseiti~ed for:
Debt seiti~ice
Special re~~enue funds
Capital projects
Total fiand balances
Total liabilities and fiand balances
Voluntai~~ Police Asset
Voluntai~~ Park Librai~~ Foi~eiture
$ 97,768 $ 379,502 $ 1,2~7
199,006 - -
Snecial Re~~enue Funds
$ 296,887 $ 379,502 $ 1,2~7
$ - $ - $ -
296,887
379,502
1,2~7
$ 296,887
70
$ 379,502
$ 1,2~7
Snecial Re~~enue Funds
Colleti~~~ille
Tree Librai~~ Recrearional Center
Preseiti~arion Donation E~~ent De~~elopment Recti~cling LEOSE
$ 18,927 $ 106,892 $ 5,822 $ 8,120 $ ~00 $ 18,183
$ 18,927 $ 106,892 $ 5,822 $ 8,120 $ ~00 $ 18,183
$ - $ - $ - $ - $ - $ -
13,723 - - - - -
13,723 - - - - -
5,20~ 106,892 5,822 8,120 ~00 18,183
$ 18,927 $ 106,892 $ 5,822 $ 8,120 $ ~00 $ 18,183
(continued)
71
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
SEPTEMBER 30, 2010
ASSETS
Cash and cash equi~~alents
In~~estments
Taxes recei~~able, net
Due from other go~~ei7nnents
Acciued interest
Total assets
LIABILTTIES AND FUND BALANCES
Liabilities:
Accounts pay~able
Acciued liabiliries
Defei7ed re~~enue
Ad~~ances from de~~elopers
Total liabilities
Fund balances:
Reseiti~ed for:
Debt seiti~ice
Special re~~enue funds
Capital projects
Total fiand balances
Total liabilities and fiand balances
Special Re~~enue Funds
Colleti~~~ille
Economic Kids~~ille
De~~elopment Crime District Maintenance
$ 1,529,8~2 $ 712,909 $ 20,~26
~63,23~ - -
231,387 166,550 -
$ 2,32~,999 $ 879,~59 $ 20,~26
$ ~2,731 $ - $ -
- ~,~~2 -
~2,731 ~,~~2 -
2,282,268
87~,007
20,~26
$ 2,32~,999
72
$ 879,~~9
$ 20,~26
Snecial Re~~enue Funds
Capital and
Cable Sales Tax
Special Court Court Equipment Incenti~~e Public Art
Donations Teclmology~ Securin~ TDPA Grant Replacement Agreement Fund
$ 31,788 $ 56,751 $ 102,657 $ - $ 701,500 $ 827,965 $ 7,90~
$ 31,788 $ 56,751 $ 102,657 $ - $ 701,500 $ 827,965 $ 7,90~
$ - $ 530 $ - $ - $ - $ 62,500 $ -
- 530 - - - 62,500 -
31,788 56,221 102,657 - 701,500 765,~65 7,90~
$ 31,788 $ 56,751 $ 102,657 $ - $ 701,500 $ 827,965 $ 7,90~
(continued)
73
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
SEPTEMBER 30, 2010
ASSETS
Cash and cash equi~~alents
In~~estments
Taxes recei~~able, net
Due from other go~~ei7nnents
Acciued interest
Total assets
LIABILTTIES AND FUND BALANCES
Liabilities:
Accounts pay~able
Acciued liabiliries
Defei7ed re~~enue
Ad~~ances from de~~elopers
Total liabilities
Fund balances:
Reseiti~ed for:
Debt seiti~ice
Special re~~enue funds
Capital projects
Total fiand balances
Total liabilities and fiand balances
Capital Project Funds
Colleti~~~ille Parks
Tomoi7o~~ Tomoi7o~~
$ 1,816,738
$ 1,~93,861
$ 1,816,738
$ 107,70~
107,70~
1,709,034
1,709,034
$ 1,~93,861
$
1,~93,861
1,~93,861
$ L816,738 $ 1,~93,861
74
Capital Project Funds
CEDC
Parkland Capital
Dedication Project Kimzeti~ Park
$ ~1~,217 $ ~13,710 $ 3,576
1,07~,900 - -
$ 1,590,981 $ 413,710 $ 3,576
Total
Go~ ei7nnental
Fiinds
$ 8,871,705
1,837,140
397,937
1,513
$ 11,108,295
$ - $ - $ - $ 213,~65
- - - 5,~52
- - - 13,723
- - - 232,6~0
- - - ~,66~,~93
1,590,981 ~13,710 3,576 5,211,162
1,590,981 ~13,710 3,576 10,875,655
$ 1,590,981 $ ~13,710 $ 3,576 $ 11,108,295
75
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
REVENUES
Taxes
Fees and fines
Intergo~~ei7nnental
Donations
In~~estment eai7ungs
Miscellaneous
Total re~~enues
EXPENDITURES
Current:
General go~~ei7nnent
Commuiun~ de~~elopment and engineeiing
Fire and rescue
Leisure seiti~ices
Muiucipal court
Police
Debt seiti~ice:
Principal
Interest and other charges
Capital outlay~
Total expenditures
EXCESS (DEFICIENC~ OF REVENUES
OVER(UNDER)EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total other financing sources and uses
NET CHANGE IN FUND BALANCES
FUND BALANCES, BEGINNING
FUND BALANCES, ENDING
Special Re~~enue Funds
Voluntai~~ Voluntai~~ Police Asset
Park Librai~~ Foi~eiture
$ - $ - $ -
1~6,209 1~6,209 -
2,11~ 9~9 -
1~8,323 1~7,1~8 -
56,73~ 152,075 -
- - 500
17, 312 - -
7~,0~6 152,075 500
7~,277 ( ~,917) ( 500)
7~,277 ( ~,917) ( 500)
222,610 38~,~19 1,7~7
$ 296,887 $ 379,502 $ 1,2~7
76
Special Re~~enue Funds
Colleti~~~ille
Tree Librai~~ Recrearional Center
Preseiti~arion Donation E~~ent De~~elopment Recti~cling LEOSE
$ - $ - $ - $ - $ - $ -
- 12,93~ - - - 3,865
- 3~,965 75 250 - -
- - - - 15,000 -
- ~7,899 75 250 15,000 3,865
- - - - 1~,68~ -
- 32,76~ ~,900 - - -
- - - - - 5,919
- 12,712 - 1~,900 - -
- ~~,~76 ~900 1~900 1~,68~ ~,919
- 2,~23 ( ~,82~) ( 1~,6~0) 316 ( 2,0~~)
- 2,~23 ( ~,82~) ( 1~,6~0) 316 ( 2,0~~)
5,20~ 10~,~69 10,6~7 22,770 8~ 20,237
$ 5,20~ $ 106,892 $ 5,822 $ 8,120 $ ~00 $ 18,183
(continued)
77
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Special Re~~enue Funds
REVENUES
Taxes
Fees and fines
Intergo~~ei7nnental
Donations
In~~estment eai7ungs
Miscellaneous
Total re~~enues
EXPENDITURES
Current:
General go~~ei7nnent
Commuiun~ de~~elopment and engineeiing
Fire and rescue
Leisure seiti~ices
Muiucipal court
Police
Debt seiti~ice:
Principal
Interest and other charges
Capital outlay~
Total expenditures
EXCESS (DEFICIENC~ OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total other financing sources and uses
NET CHANGE IN FUND BALANCES
FUND BALANCES, BEGINNING
FUND BALANCES, ENDING
Colleti~~~ille
Economic Kids~~ille
De~~elopment Crime District Maintenance
$ 1,317,161 $ 981,0~~ $ -
~,913 1,~30 -
1,322,07~ 982,57~ -
3,000 - -
155,918 - -
83,380 - -
- 368,6~3 -
290>000 - -
356,290 - -
379,839 117,605 -
1,268,~27 ~86,2~8 -
~3,6~7 ~96,326 -
- ( 513,162) -
- ( 513,162) -
~3,6~7 ( 16,836) -
2,228,621 890,8~3 20,~26
$ 2,282,268 $ 87~,007 $ 20,~26
78
Special Re~~enue Funds
Capital and
Cable Sales Tax
Special Court Court Equipment Incenti~~e Public Art
Donations Teclmology~ Securin~ TDPA Grant Replacement Agreement Fund
$ - $ - $ - $ - $ - $ - $ -
- 38,173 28,636 - - - -
800 - - 53,550 - - -
~8,~~1 - - - - - -
- - - - 1,106 2,176 -
~9,3~1 38,173 28,636 53,550 1,106 2,176 -
7,79~ - -
12,855 - -
- 259~~ 11,139
7,772 - -
20,920 12,219 17,~97
53,550
53,550
1,106
150,778
1~0,1~2
( 137,96~
6,000
6,000
( 6,000~
20,920 12,219 17,~97 - 15L88~ ( 137,966) ( 6,000)
10,868 ~~,002 8~,160 - ~~9,616 903,~31 13,90~
$ 31,788 $ 56,221 $ 102,657 $ - $ 701,500 $ 765,~65 $ 7,90~
(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, 2010
Capital Project Funds
Colleti~~~ille Parks
Tomoi7o~~ Tomoi7o~~
Fiind Fiind
REVENUES
Taxes $ - $ -
Fees and fines - -
Intergo~~ei7nnental - -
Donations - -
In~~estment eai7ungs 6,168 ~,097
Miscellaneous - -
Total re~~enues 6,168 ~,097
EXPENDITURES
Current:
General go~~ei7nnent - -
Commuiun~ de~~elopment and engineeiing - -
Fire and rescue - -
Leisure seiti~ices 17,6~0 28,325
Muiucipal court - -
Police - -
Debt seiti~ice:
Principal - -
Interest and other charges - -
Capital oiitla~ 1,7~~,16~ 230,203
Total expenditures 1,761,80~ 258,528
EXCESS (DEFICIENC~ OF REVENUES
OVER (iTNDER) EXPENDITURES ( 1,755,636) ( 25~,~31)
OTHER FINANCING SOURCES (USES)
Transfers in - -
Transfers out - -
Total other financing sources and uses - -
NET CHANGE IN FUND BALANCES (1,755,636) ( 25~,~31)
FUND BALANCES, BEGINNING 3,~6~,670 1,7~8,292
FUND BALANCES, ENDING $ 1,709,03~ $ 1,~93,861
80
Capital Project Funds
Total
Parkland CEDC Capital Go~~ei7nnental
Dedication Project Kimzeti~ Park Funds
$ - $ - $ - $ 2,298,205
- - - 66, 809
- - - 71,1~9
3,60~ - - 379,853
6,99~ - - 30,0~7
- - - 15,000
10,598 - - 2,861,063
- - - 17,68~
- - - 296,060
- - - 7,79~
- - - 388,673
- - - 37,093
- - - 382,83~
- - - 290,000
- - - 356,290
- 181,921 - 2,758,206
- 181,921 - ~,~3~,63~
10,598 ( 181,921) - ( 1,673,571)
- - - 150,778
- - - ( 513,162)
- - - ( 362,38~)
10,598 ( 181,921) - ( 2,035,955)
1,580,383 595,631 3,576 12,911,610
$ 1,590,981 $ ~13,710 $ 3,576 $ 10,875,655
81
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, 2010
Vaiiance ~~ith
Budget -
Positi~~e
Budget Actual (Negari~~e)
REVENUES
Taxes $ 1,851,396 $ 2,010,911 $ 159,515
In~~estment eai7ungs 12,000 2,~52 ( 9,5~8)
Total re~~enues 1,863,396 2,013,363 1~9,967
EXPENDITURES
Debt seiti~ice:
Principal rerirement 2,~76,396 1,890,061 586,335
Interest and fiscal charges ~,000 588,~61 ( 58~,~61)
Total expenditures 2,~80,396 2,~78,522 1,87~
EXCESS (DEFICIENC~ OF REVENUES
OVER (iTNDER) EXPENDITURES ( 617,000) ( ~65,159) 151,8~1
OTHER FINANCING SOURCES
Transfers in ~98,162 ~98,162 -
Total otherfinancing sources ~98,162 ~98,162 -
NET CHANGE IN FUND BALANCE ( 118,838) 33,003 15L8~1
FUND BALANCE, BEGINNING 1,121,567 1,121,567 -
FUND BALANCE, ENDING $ 1,002,729 $ 1,15~,570 $ 151,8~1
82
AGENCY FUNDS
Employee Activity Fund - This fund is used to account for funds held by the City for the benefit
of employees of the City.
S'esquicentenniccl Fund - This fund is used to account for funds held by the City for the benefit
of the City of Colleyville's historical purposes.
83
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF FIDUCIARY NET ASSETS
AGENCY FUNDS
SEPTEMBER 30, 2010
Emplo~Tee
Activit~T Sesquicentennial
Fund Fund Total
ASSETS
Cash and cash equivalents $ 7,149 $ 17,439 $ 24,588
Total assets $ 7,149 $ 17,439 $ 24,588
LIABILITIES
Due to other agencies and individuals $ 7,149 $ 17,439 $ 24,588
Totalliabilities $ 7,149 $ 17,439 $ 24,588
84
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES
AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2010
Emplo~Tee Activit~T Fund
Balance Balance
10/O1/09 Additions Deletions 09/30/10
Cash and cash equivalents $ 5,385 $ 3,059 $ 1,295 $ 7,149
Total assets $ 5,385 $ 3,059 $ 1,295 $ 7,149
Due to other agencies and individuals $ 5,385 $ 3,059 $ 1,295 $ 7,149
Totalliabilities $ 5,385 $ 3,059 $ 1,295 $ 7,149
Sesquicentennial Fund
Balance Balance
10/O1/09 Additions Deletions 09/30/10
Cash and cash equivalents $ 18,800 $ 134 $ 1,495 $ 17,439
Total assets $ 18,800 $ 134 $ 1,495 $ 17,439
Due to other agencies and individuals $ 18,800 $ 134 $ 1,495 $ 17,439
Totalliabilities $ 18,800 $ 134 $ 1,495 $ 17,439
Total Agenc~T Funds
Balance Balance
10/O1/09 Additions Deletions 09/30/10
Cash and cash equivalents $ 24,185 $ 3,193 $ 2,790 $ 24,588
Total assets $ 24,185 $ 3,193 $ 2,790 $ 24,588
Due to other agencies and individuals $ 24,185 $ 3,193 $ 2,790 $ 24,588
Totalliabilities $ 24,185 $ 3,193 $ 2,790 $ 24,588
85
THIS PAGE INTENTIONALLY LEFT BLANK
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 95
These schedules contain information to help the reader assess the
government's most significant local revenue source, the property
tax.
Debt Capacity 103
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 Econonuc Information 110
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
government's financial activities talce place.
Operating Information 112
These schedules contain service and infrastnict~ire 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
THIS PAGE INTENTIONALLY LEFT BLANK
ss
CITY OF COLLEYVILLE, TEXAS
NET ASSETS BY COMPONENT
(Accrual Basis of Accounting)
TABLE 1
2003 2004 2005 2006 2007 2008 2009 2010
Governmental activities:
Invested in capital assets, net of related debt $ 55,965,990 $ 60,055,616 $ 60,884,756 $ 66,991,146 $ 71,824,719 $ 77,484,725 $ 79,243,497 $ 81,970,674
Restricted 1,040,403 756,516 896,130 937,578 1,032,586 889,689 1,040,896 1,057,699
Unrestricted 15,646,259 15,948,497 19,132,376 19,002,816 21,987,778 21,862,136 27,498,864 25,936,703
Total governmental activities net assets $ 72,652,652 $ 76,760,629 $ 80,913,262 $ 86,931,540 $ 94,845,083 $ 100,236,550 $ 107,783,257 $ 108,965,076
Business-type activities
Invested in capital assets, net of related debt $ 22,588,864 $ 23,957,432 $ 24,827,365 $ 25,919,619 $ 32,804,703 $ 39,442,148 $ 39,174,562 $ 39,080,043
Restricted 668,120 668,239 670,571 882,821 1,080,751 1,024,349 987,181 983,225
Unrestricted 14,502,121 15,470,275 16,374,236 19,253,772 13,626,274 7,837,790 8,127,736 7,747,336
Total business-type activities net assets $ 37,759,105 $ 40,095,946 $ 41,872,172 $ 46,056,212 $ 47,511,728 $ 48,304,287 $ 48,289,479 $ 47,810,604
Primary government
Invested in capital assets, net of related debt $ 78,554,854 $ 84,013,048 $ 85,712,121 $ 92,910,765 $ 104,629,422 $ 116,926,873 $ 118,418,059 $ 121,050,717
Restricted 1,708,523 1,424,755 1,566,701 1,820,399 2,113,337 1,914,038 2,028,077 2,040,924
Unrestricted 30,148,380 31,418,772 35,506,612 38,256,588 35,614,052 29,699,926 35,626,600 33,684,039
Total primary government net assets $ 110,411,757 $ 116,856,575 $ 122,785,434 $ 132,987,752 $ 142,356,811 $ 148,540,837 $ 156,072,736 $ 156,775,680
Note: The City began to report accrual information when it implemented GASB 34 in fiscal year 2003.
89
CITY OF COLLEYVILLE, TEXAS
CHANGES IN NET ASSETS
(Accrual Basis of Accounting)
2003 200~ 2005
EXPENSES
Go~~ei7nnental acri~~iries:
General go~ enunent $ 1,551,989 $ 2,5~2,016 $ 2,2~5,96~
Commuiun~ De~~elopment and Engineeiing 1,280,~10 1,281,~29 1,16~,3~5
Fire and rescue 3,010,260 3,1~~,81~ 3,325,103
Leisure seiti~ices 2,728,287 2,953,528 2,923,958
Maintenance 193,865 36~,256 36~,~3~
Muiucipal court 235,053 250,551 238,87~
Police 3,~98,~19 3,295,263 3,533,083
Streets and drainage 2,195,256 2,562,~99 2,970,~75
Interest on long-teim debt 1,~91,6~9 1,290,825 1,190,857
Total go~~ei7nnental acti~~ities expenses 16,185,188 17,685,181 17,957,093
Business-ty~pe acti~~ities
Waterand~~aste~~ater 7,70~,603 7,850,570 8,962,630
Drainage 35~,960 517,713 550,005
Interest on long-term debt 601,560 - -
Total business-ty~pe acri~~iries expenses 8,661,123 8,368,283 9,512,635
Total piimaiy~ go~~ei7nnent program expenses $ 2~,846,311 $ 26,053,~6~ $ 27,~69,728
PROGRAM REVENUES
Go~~ei7nnental acri~~iries:
Charges for seiti~ices:
General go~~ei7nnent $ 18,000 $ 16,000 $ 6,000
Commuiun~ De~~elopment and Engineeiing 1,2~2,838 L687,921 1,515,052
Fire and rescue 10~,990 125,081 136,~98
Leisure seiti~ices 39~,098 399,319 386,658
Muiucipal court 510,5~~ 508,572 ~92,805
Police ~~,626 66,13~ 9~,23~
Streets and drainage 2~0,309 512,171 336,111
Operaring grants and contiiburions 328,32~ 619,~59 523,70~
Capital grants and conriibutions 8,01~,501 3,857,202 3,283,77~
Total go~~ei7nnental acti~~ities program re~~enues 10,899,230 7,791,860 6,775,836
(continued)
90
T6
cc~`~R~`~ ~RO`T~R`~ z~R`~o~`~ ~~z`T~~`~ to~`o~~`R
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o8L`st~, 6i9`siz 889`8s~, LcT'cc~, 098`zLt
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T90`000`T 08T`TSO`T tTL`TOT`T tL£`Z£0`T £t0`ZtT`T
Z8T`S88`~, 6TS`~,OS`~, O~,L`6ZT`~, S66`068`Z S9t`Z~,6`Z
tLZ`9£8`t LTZ`Tt8`t 8£t`LS9`t S8T`Z£Z`t tt9`T08`£
9SCZ0£ tZCT6Z OZO`tZ£ 86T`Z9Z St£`OLZ
£8L`~,Zt ZSL`SSt S9Z`LTt t86`t~,t tOS`~,8~,
69L`8TT`t 6SZ`Tt6`~, SOT`£~,0`t t60`SZS`~, Z66`~,TS`~,
St6`6Tt`t ~,6L`£TT`t TTT`8S6`~, T~,B`06L`~, S8S`tT8`~,
TZZ`St9`T T06`0£S`T tZT`T8t`T 89L`£ZS`T 9£T`L9Z`T
S06`T69`Z $ T8t`St6`Z $ tL8`tT8`Z $ TSO`8~,t`Z $ t90`6ZL`Z $
OiOZ 600Z 800Z LOOZ 900Z
Z ~'Ig~.L
CITY OF COLLEYVILLE, TEXAS
CHANGES IN NET ASSETS
(Continued)
(Accrual Basis of Accounting)
PROGRAM REVENUES (Continued)
Business-ty~pe acti~~ities:
Charges for seiti~ices:
Water and ~~aste~~ater
Drainage
Capital grants and conriibutions
Total business-ty~pe acri~~iries program re~~enues
~ ~,~,~ ~ ~,~, ., ~ ~,~, ~
$ 8,595,871 $ 8,92~,9~2 $ 9,856,889
666,399 677,913 675,0~5
1,~~3,~02 1,~12990 8~~,2~6
10,705,772 11,015,8~5 11,376,190
Total piimaiy~ go~~ei7nnent program re~~enues
NET (EXPENSE) REVENUES
Go~~ei7nnental acri~~iries
Business-ty~pe acti~~ities
Total piimaiy~ go~~ei7nnent net expense
$ 21,605,002 $ 18,807,705 $ 18,152,026
$( 5,285,958) $( 9,893,321) $(11,181,257)
2,0~~,6~9 2,6~7,~62 L863,»>
( 3,241,309) ( 7,2~5,759) ( 9,317,702)
GENERAL REVENUES AND OTHER CHANGES IN NET ASSETS
Go~~ei7nnental acri~~iries:
Taxes
Propei~~ 8,183,790
Francluse 1,395,569
Sales 2,964,331
Other 32,123
In~~estment eai7ungs ~68,656
Miscellaneous 63,052
Gain on sale of capital assets -
Transfers 1,058,060
Total go~~ei7nnental acti~~ities 1~,165,581
Business-ty~pe acti~~ities:
In~~estment eai7ungs
Gain on sale of capital assets
Transfers
Total business-ty~pe acri~~iries
Total piimaiy~ go~~ei7nnent
CHANGE IN NET ASSETS
Go~~ei7nnental acri~~iries
Business-ty~pe acti~~ities
Total piimaiy~ go~~ei7nnent
282,661
( 1,058,060)
( 775,399~
8,~3~,388
1,~58,079
3,381,63~
37,296
217,316
53,538
~73,366
1~,1»,617
162,6~~
( ~73,366)
( 310,721~
8,938,888
1,~77,7~9
3,801,369
~3,97~
~~3,~70
1~3,9~7
~6~,393
15,333,890
377,06~
( ~6~,393)
( 87,329)
13,390,182
8,879,623
1,269,250
13,8~~,896
~,262,296
2,336,8~1
1~,2~6,~61
~,1~2,633
1,776,226
$ 10,1~8,873 $ 6,599,137 $ 5,928,859
Note: See Table 9 for information about Water and Waste~~ater Charges for seiti~ices
The Cin~ began to report acci~ual informarion ~~hen it implemented GASB Statement 3~ in fiscal y~ear 2003.
92
TABLE 2
2006 2007 2008 2009 2010
$ 13,187,868 $ 9,127,~70 $ 11,11~,892 $ 11,303,868 $ 11,~1~,~2~
8~1,972 859,013 87~,637 897,361
1,100,35~ L~61,2» 1,~1~,78~ 63,293 1~7,01~
1~,288,222 11,530,697 13,389,690 12,2~1,798 12,~58,800
$ 23,258,526 $ 20,891,960 $ 22,993,522 $ 22,132,885 $ 16,~~5,155
$(10,88~,47~) $(10,769,217) $(12,313,~~9) $(12,783,739) $(19,337,~~1)
3,870,183 1,120,890 1,253,900 6~0,0~9 3~7,725
( 7,01~,291) ( 9,6~8,327) (11,059,6~9) (12,143,690) (18,989,816)
9,~83,5~6 10,153,775 11,367,967 12,121,~20 12,557,716
1,790,5~3 1,779,376 1,818,060 2,017,~~0 1,867,065
~,3»,627 ~,67~,068 ~,7~0,96~ ~,718,976 ~,936,48~
76,005 89,132 82,532 7~,198 75,365
904,361 1,224,361 80~,86~ ~71,~2~ 76968
6~,313 97963 96,3~8 77,8~~ 82,833
- - 116,112 25,237 65,306
532,357 66~,085 8~1,936 823,797 857,622
17,207,752 18,682,760 19,868,783 20,330,~~6 20,519,359
8~6,21~ 998,710 380,595 168,9~0 15,158
- - - - 1~,86~
( 532,357) ( 66~,085) ( 8~1,936) ( 823,797) ( 857,622)
313,8~7 33~,62~ ( ~61,3~1) ( 6~~,8~7) ( 826,600)
17,521,609 19,017,385 19,~07,~~2 19,675,589 19,692,759
6,323,278 7,913,5~3 7,555,23~ 7,5~6,707 1,181,818
~,18~,0~0 1,~55,515 792,559 ( 1~,808) ( ~78,875)
$ 10,507,318 $ 9,369,058 $ 8,3~7,793 $ 7,531,899 $ 702,9~3
93
THIS PAGE INTENTIONALLY LEFT BLANK
94
General fund
Reserved
Unreserved
Total generalfund
All other governmental funds
Reserved
Unreserved, reported in:
Special revenue funds
Capital projects funds
Total all other
governmental funds
TABLE 3
CITY OF COLLEYVILLE, TEXAS
FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
Fiscal Year
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ 1,165 $ - $ - $ - $ - $ - $ - $ - $ - $ -
5,442,147 6,015,647 6,440,152 6,767,592 6,850,731 7,575,662 8,495,329 8,717,398 8,207,420 8,813,597
$ 5,443,312 $ 6,015,647 $ 6,440,152 $ 6,767,592 $ 6,850,731 $ 7,575,662 $ 8,495,329 $ 8,717,398 $ 8,207,420 $ 8,813,597
$ 18,121,317 $ 17,196,677 $ 2,674,486 $ 3,056,810 $ 2,959,583 $ 1,082,681 $ 1,254,686 $ 987,681 $ 1,121,567 $ 1,154,570
- - 2,068,938 2,459,810 3,251,861 4,760,679 4,814,412 5,696,905 7,267,350 5,664,493
- - 6,012,845 4,967,859 7,438,437 7,012,225 9,055,431 7,811,492 12,369,631 11,524,206
$ 18,121,317 $ 17,196,677 $ 10,756,269 $ 10,484,479 $ 13,649,881 $ 12,855,585 $ 15,124,529 $ 14,496,078 $ 20,758,548 $ 18,343,269
Note: This schedule does not restate prior years for Special Revenue and Capital Projects Funds.
95
CITY OF COLLEYVILLE, TEXAS
TABLE 4
CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
Fiscal Year
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
REVENUES
Taxes
Developer contributions
Licenses, fees and permits
Capital improvement fees
Drainage fees
Fines and penalties
Charges for services
Interest
Intergovernmental
Donations
Miscellaneous
Total revenues
EXPENDITURES
General government
Comm Development/Eng
Fire
Police
Leisure services
Streets and drainage
Municipal court
Maintenance
Capital outlay
Debt service:
Interest
Principal
Total expenditures
$ 11,170,915 $ 12,296,418 $ 12,596,779 $ 13,438,345 $ 14,277,010 $ 15,708,945 $ 16,701,290 $ 17,975,445 $ 18,889,480 $ 19,353,358
326,637 334,502 277,084 416,319 274,996 549,911 683,425 226,488 - -
855,255 913,426 926083 1,505,512 1,359,329 1,931,265 1,244,218 1,113,595 646,302 607,132
232,155 270,872 300,252 577,171 366,111 482,860 389,657 358,688 208,622 334,075
593,830 615,099 - - - - - - - -
557,439 534,590 509,395 520,926 513,129 841,595 965,416 1,203,260 1,028,425 1,244,146
311,991 464,515 915,695 952,452 940,212 1,173,394 1,190,327 1,322,732 7,129,322 917,884
1,469,353 746,041 468,656 217,316 443,570 904,361 1,224,361 804,864 471,524 76,968
217,037 107,962 504,718 328,040 167,293 5,409 4,361 1,437,935 350,468 100,807
184,607 206,358 707,829 797,042 502,789 396,627 735,756 548,093 401,432 379,853
375,878 554,564 96,857 92,198 183,902 83,730 107,700 116,280 155,100 97,833
16,295,097 17,044,347 17,303,348 18,845,321 19,028,341 22,078,097 23,246,511 25,107,380 29,280,675 23,112,056
1,936,372 1,925,674 1,469,725 2,445,219 1,873,091 2,107,398 2,247,359 2,537,699 2,639,218 2,423,869
1,335,758 1,226,877 1,274,096 1,281,745 1,160,232 1,265,251 1,467,216 1,462,566 1,531,785 1,642,047
2,852,223 2,783,968 2,826,218 3,057,879 3,166,840 3,657,554 3,517,817 3,755,575 3,840,118 3,955,407
4,122,612 6,711,870 3,331,861 3,126,469 3,293,320 3,558,154 3,961,975 4,395,056 4,588,576 4,552,947
1,625,850 1,665,598 2,262,478 2,489,222 2,388,761 2,838,637 2,913,798 3,171,514 3,058,332 3,173,352
1,408,092 1,239,090 1,092,703 1,420,620 1,656,187 1,604,425 1,485,756 1,649,037 1,917,536 2,297,719
118,219 150,056 234,180 250,597 238,245 270,037 252,961 323,059 291,893 302,172
125,049 182,814 162,865 356,819 357,983 377,144 415,708 410,636 449,806 417,946
1,053,372 1,646,893 7,430,703 1,939,241 1,459,940 4,491,341 6,337,656 5,150,286 2,759,774 4,935,053
1,842,609 1,807,778 1,664,219 1,277,593 1,289,866 1,141,817 1,094,001 2,584,790 1,033,148 944,751
1,452,151 1,504,669 1,438,561 1,617,633 1,573,308 1,929,047 2,005,204 1,189,798 2,275,553 2,180,061
17,872,307 20,845,287 23,187,609 19,263,037 18,457,773 23,240,805 25,699,451 26,630,016 24,385,739 26,825,324
(continued)
96
CITY OF COLLEYVILLE, TEXAS
CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
(Continued)
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
TABLE 4
Fiscal Year
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
EXCESS OF REVENUES
OVER (UNDER)
EXPENDITURES $( 1,577,210) $( 3,800,940) $( 5,884,261) $( 417,71~ $ 570,568 $( 1,162,708) $( 2,452,940) $( 1,522,636) $ 4,894,936 $( 3,713,268)
OTHER FINANCING
SOURCES (USES)
Bonds issued 1,600,000 3,000,000 - - 9,570,000 - 9,890,000 - - -
Refunding bonds 10,470,000 - - - - - - - - -
Notes payable 124,850 - - - 94,187 - - - - -
Capitallease - - - - - 408,716 - 176,150 - 981,238
Sale ofcapital assets - - - - - 152,270 8,800 98,168 33,759 65,306
Payments to escrow ( 10,091,360) - ( 600,000) - ( 7,450,606) - ( 4,921,334) - - -
Transfers in 1,118,935 1,092,968 1,766,111 1,115,261 1,675,954 2,203,261 1,637,154 2,082,101 2,338,776 1,884,896
Transfers out ( 605,659) ( 644,333) ( 708,051) ( 641,895) ( 1,211,561) ( 1,670,904) ( 973,069) ( 1,240,165) ( 1,514,979) ( 1,027,274)
Total other financing
sources (uses) 2,616,766 3,448,635 458,060 473,366 2,677,974 1,093,343 5,641,551 1,116,254 857,556 1,904,166
NET CHANGE IN
FUND BALANCES $ 1,039,556 $( 352,305) $( 5,426,201) $ 55,650 $ 3,248,542 $( 69,365) $ 3,188,611 $( 406,382) $ 5,752,492 $( 1,809,102)
DEBT SERVICE AS
A PERCENTAGE
OF NONCAPITAL
EXPENDITURES 19.6% 17.3% 19.7% 16.7% 16.8% 16.4% 16.0% 17.6% 15.3% 14.3%
Note: Capital Outlay does not include contributed capital assets received from developers.
97
CITY OF COLLEYVILLE, TEXAS
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Fiscal
Year
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Residential
Properry
$ 1,979,605,070
2,235,649,487
2,480,630,162
2,726,410,622
2,793,606,203
3,015,929,674
3,229,353,459
3,531,988,996
3,748,968,313
3,907,288,105
Source: Tarrant Appraisal District
Personal
Properry
$ 78,663,705
80,447,537
82,599,959
73,845,277
78,255,043
79,122,702
86,080,918
97,998,283
99,556,111
95,261,420
Less:
Tax-exempt
Properry
$ 146,382,128
192,304,569
196,195,476
219,774,274
219,264,381
221,809,521
228,115,791
228,915,486
230,676,995
237,293,931
Total Taxable
Assessed
Value
$ 1,911,886,647
2,123,792,455
2,367,034,645
2,580,481,625
2,652,596,865
2,873,242,855
3,087,318,586
3,401,071,793
3,617,847,429
3,765,255,594
Total
Direct
TaY Rate
$
0.3474
0.3474
0.3474
0.3474
0.3474
0.3474
0.3474
0.3559
0.3559
0.3559
$
TABLE 5
Estimated
Actual
TaYable
Value
1,911,886,647
2,123,792,455
2,367,034,645
2,580,481,625
2,652,596,865
2,873,242,855
3,087,318,586
3,401,071,793
3,617,847,429
3,765,255,594
Note: Property in Tarrant County is reassessed once every two years. The Appraisal District assesses properry at 100 percent of actual value for residenrial and
personal. TaY rates are per $100 of assessed value.
98
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING PROPERTY TAX RATES
LAST TEN FISCAL YEARS
TABLE 6
City Direct Rates Overlapping Rates
General Grapevine- Hurst-Euless
Operations and Obligation Total Birdville Carroll Colleyville Bedford Keller Tarrant County Tarrant County
Fiscal Maintenance Debt Direct Independent Independent Independent Independent Independent Tarrant College Hospital
Year Rate Service Rate School District School District School District School District School District County District District
2001 $ 0.26300 $ 0.08440 $ 0.34740 $ 1.5698 $ 1.8850 $ 1.58230 $ 1.6775 $ 1.5227 $ 0.27479 $ 0.106410 $ 0.234070
2002 0.26954 0.07786 0.34740 1.5698 1.9500 1.61679 1.6530 1.5289 0.27479 0.106410 0.234070
2003 0.27223 0.07517 0.34740 1.6170 1.9350 1.65979 1.7119 1.6519 0.27250 0.139380 0.234000
2004 0.28700 0.06040 0.34740 1.6170 1.9025 1.70105 1.6616 1.6762 0.27250 0.139380 0.235397
2005 0.29072 0.05668 0.34740 1.6170 1.9350 1.70000 1.7105 1.6975 0.27250 0.139380 0.235397
2006 0.27771 0.06969 0.34740 1.6170 1.9350 1.70000 1.7230 1.7158 0.27250 0.139380 0.235397
2007 0.27873 0.06867 0.34740 1.5650 1.7950 1.57430 1.5976 1.6080 0.27150 0.139380 0.235397
2008 0.28299 0.07291 0.35590 1.4050 1.4650 1.29000 1.3037 1.3574 0.26650 0.139380 0.230397
2009 0.28860 0.06731 0.35590 1.4100 1.4150 1.29000 1.2955 1.4169 0.26400 0.137960 0.227897
2010 0.29864 0.05726 0.35590 1.4050 1.4150 1.29000 1.2955 1.4863 0.26400 0.137670 0.227897
Source: Tarrant Appraisal District
Notes: Overlapping rates are those of local and county governments that apply to property owners within the City of Colleyville, Texas. Not all school district overlapping rates apply to all
Colleyville property owners because the City is served by five different independent school districts; for example, although the county property tax rates apply to all City property
owners, the Grapevine-Colleyville Independent School District rates apply only to the approximately two-thirds of City property owners whose property is located within that school
district's geographic boundaries.
99
Tasna~ er
Mel~~in & Matiindale
TXU Electric Deli~~ei~~
Lifetime Fitness Real Estate
RP25 De~~elopment, LP
VH Properties, LP
Dreiling Realn~, LLC
Chesapeake Land De~~. Co., LLC
American National Bank of Texas
PK Indusriies, Inc.
Uhlman Colley~ille, LLC
Albertsons
Colley~ille Plaza
Praedium Centeiuual Assoc.
Pu1te Home Corp of Te~as
Greem~ av Glade Partners, LP
Patsti~ Smith
Colley~~~ille De~~elopment Co.
Pa~ less Casli~~ a~ s
Kes~~ ick, Ltd Partnerslup
Total
Source: Tai7ant Appraisal Disriict
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL PROPERTY TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
TABLE 7
2010 2001
Percentage Percentage
of Total Cin~ of Total Cin~
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Value Value Value Value
$ 25,806,252 23.71% $ - - %
17,~22,706 16.01% 16,258,~~3 2~.16%
12,275,000 1128% - - %
12,110,739 11.13% - - %
~,1~~,~~O ~.~O% - - %
8,3~7,900 7.67% - - %
6,553,636 6.02% - - %
5,880,738 5.~0% - - %
5,830,580 5.36% - - %
5,~58,8~2 5.02% - - %
- - % 1~,8~1,259 22.06%
- - % 6,99~,~21 10.~0%
- - % ~,800,000 7.13%
- - % ~,720,969 7.02%
- - % ~,308,3~0 6.~0%
- - % ~,183,~87 6.22%
- - % 3,995,330 59~%
- - % 3,783,779 5.62%
- - % 3,396,356 5.05%
$ 108,830,953 100.00%
$ 67,282,38~ 100.00%
100
CITY OF COLLEYVILLE, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
TABLE 8
Collected With the
Taxes Le~~ied Fiscal Year of the Le~~ti~ Collecrions Total Collecrions to Date
Fiscal forthe Percentage in Subsequent Percentage
Year Ended Fiscal Year Amount of Le~~ti~ Years Amount of Le~~ti~
2001 $ 6,66~,0~2 $ 6,597,~02 98.8% $ 63,112 $ 6,660,51~ 9995%
2002 7,399,976 7,325,976 98.3% 66,552 7,392,528 9990%
2003 8,233,5~3 8,151,208 98.8% 79,083 8,230,291 9996%
200~ 8,719,~~~ 8,632,250 99.2% 8~,290 8,716,5~0 99.97%
2005 9,201,770 9,109,752 99.1% 87,781 9,197,533 9995%
2006 9,981,6~6 9,906,769 99.2% 70,175 9,976,9~~ 9995%
2007 10,725,3~5 10,592,222 98.8% 12~,~57 10,716,679 9992%
2008 12,02~,882 11,903,333 99.0% 10~,752 12,008,085 99.86%
2009 12,875,919 12,73~,871 989% 82,926 12,817,797 99.55%
2010 13,351,922 13,166,515 98.6% - 13,166,515 98.61%
Sources: Tarrant Count~T Appraisal District and CittT of Colle~-Tville Finance Department.
101
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL WATER CUSTOMERS
CURRENT YEAR AND NINE YEARS AGO
TABLE 9
2010 2001
Percentage Percentage
of Total Cin~ of Total Cin~
Water Water Water Water
Taxpay~er Usage Usage Usage Usage
Grape~~ine-Colle~~~~ille ISD ~5,~~7,700 1.89% 28,767,800 1.37%
Lifetime Fitness 10,758,700 0.~5% - - %
Market Street 9,520,700 0.~0% - - %
To~~n Center 8,93~,000 0.37% - - %
Blueboimet Hills 5,063,700 021% - - %
Remington Park - - % ~,713,700 0.22%
Timai7on ~,08~,700 0.17% - - %
Highland Meado~~ s HOA ~,076,900 0.17% 2,916,700 0.1~%
Shado~~ood Trail ~,023,300 0.17% ~,808,800 0.23%
Woodland Hills 3,939,~00 0.16% 3,619,300 0.17%
Rio Mambo 3,589,~00 0.15% - - %
La Hacienda Ranch 3,520,700 0.15% 5,070,700 0.2~%
Colleti~~~ille Glade 3,293,500 0.1~% - - %
WashDepot 3,186,600 0.13% ~,236,000 0.20%
Clairemont HOA 3,183,200 0.13% - - %
Good Acres LTD 3,113,300 0.13% 5,772,800 0.27%
First Baptist Church 2,7~8,800 0.11% - -%
Saddlebrook HOA 2,69~,600 0.11% - - %
Albertsons 2,667,700 0.11% 5,736,200 0.27%
Total 123,8~6,900 5.16% 65,6~2,000 3.12%
Source: Cin~ utilin~ billing records
102
CITY OF COLLEYVILLE, TEXAS
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
TABLE 10
Governmental Acriviries Business-type Activities
General Sales TaY Water and Sewer Drainage Total Percentage
Fiscal Obligation Revenue Capital Revenue Revenue Capital Primary of Personal Per
Year Bonds Bonds Leases Bonds Bonds Leases Government Income Capita
2001 $ 12,975,000 $ 14,982,722 $ - $ 10,100,000 $ 3,025,000 $ - $ 41,082,722 4.31% $ 2,107
2002 15,315,000 14,472,722 - 9,503,000 2,940,000 - 42,230,722 422% 2,127
2003 13,820,000 13,937,722 - 9,605,000 2,800,000 - 40,162,722 3.81% 1,993
2004 12,925,000 13,077,722 - 8,925,000 2,660,000 - 37,587,722 3.43% 1,834
2005 11,995,000 14,980,000 69,187 8,160,000 2,515,000 41,077 37,760,264 328% 1,798
2006 10,665,000 14,760,000 404,395 7,365,000 2,365,000 26,933 35,586,328 2.96% 1,640
2007 17,770,000 10,372,462 349,189 6,540,000 2,205,000 13,140 37,249,791 2.89% 1,682
2008 16,275,000 9,795,916 430,549 5,840,000 2,040,000 - 34,381,465 2.65% 1,528
2009 14,665,000 9,199,370 359,996 5,200,000 1,870,000 - 31,294,366 2.52% 1,388
2010 13,300,000 8,572,824 1,151,173 4,520,000 1,695,000 - 29,238,997 2.30% 1,274
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.
103
CITY OF COLLEYVILLE, TEXAS
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
TABLE 11
General Bonded Debt Outstanding Percentage of
General Less Amounts Actual Taiable
Fiscal Obligation Restricted to Value of Per
Year Bonds Repa~Ting Principal Total Propert~T Capita
2001 $ 12,975,000 $ 863,320 $ 12,111,680 0.63% $ 621
2002 15,315,000 962,363 14,352,637 0.68% 723
2003 13,820,000 1,025,530 12,794,470 0.54% 635
2004 12,925,000 995,889 11,929,111 0.46% 582
2005 11,955,000 989,618 10,965,382 0.41% 522
2006 10,665,000 1,082,681 9,582,319 0.33% 442
2007 17,770,000 1,254,686 16,515,314 0.53% 746
2008 16,275,000 987,681 15,287,319 0.50% 679
2009 14,665,000 1,121,567 13,543,433 0.44% 601
2010 13,300,000 1,154,570 12,145,430 0.39% 529
Notes:
Details regarding the Cit~T's outstanding debt can be found in the notes to the fmancial statements.
See Table 5 for propert~T value data.
Population data can be found in Table 14.
104
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVTTIES DEBT
AS OF SEPTEMBER 30, 2010
TABLE 12
Estimated
Share of
Estimated Direct and
Debt Percentage O~~erlapping
Go~~ei7nnent Uiut Outstandin~ Applicable Debt
Debt repaid ~~ith propei~~ taxes
Bird~~ille Independent School District $ 237,995,20~ 0.080% $ 190,396
Cai7oll Independent School Disriict 2~~,215,0~0 0.~50% 1,098,968
Grape~~ine-Colle~~~~ille Independent School District 26~,8~7,9~0 20J90% 55,061,887
Hurst-Euless-Bedford Independent School District 205,151,727 1.560% 3,200,367
Keller Independent School Disriict 725,718,~59 2.810% 20,392,689
Tai7ant Counn~ 371,070,000 2.970% 11,020,779
Tai7ant Counn~ College District 28,000,000 2.970% 83 L600
Tai7ant Counn~ Hospital District 36,~95,000 2.970% 1,083,902
Subtotal o~~erlapping debt 92,880,587
Cin~ direct debt 13,300,000 100.000% 13,300,000
Total direct and o~~erlapping debt $ 106,180,587
Sources: Assessed ~~alue data used to estimate applicable percentages pro~~ided by~ the Tai7ant Counn~ Appraisal Disriict
and debt outstanding data pro~~ided by~ each go~~ei7unental uiut.
105
CITY OF COLLEYVILLE, TEXAS
LEGAL DEBT MARGIN INFORMATION
LAST TEN FISCAL YEARS
Legal Debt Margin Calculation for Fiscal Year 2010
TABLE 13
Assessed value $ 3,765,255,594
Debt limit (.2.5% of assessed value) 94,131,390
Debt applicable to limit:
General obligation bonds 13,300,000
Less: Amount set aside for
repayment of general
obligation debt 1,154,570
Total net debt applicable to limit 14,454,570
$ 79,676,820
Legal debt margin
Fiscal Year
2001 2002 2003 2004 2005 2006 2007 2008 2009
2010
Debtlimit $ 47,797,166 $ 53,094,886 $ 59,175,866 $ 64,512,041 $ 66,314,922 $ 71,831,071 $ 77,182,965 $ 85,026,795 $ 74,212,544 $ 79,676,820
Total net debt applicable to limit 12,975,000 15,315,000 13,820,000 12,925,000 11,995,000 9,582,319 15,745,132 15,287,139 13,543,433 13,300,000
Legaldebtmargin $ 34,822,166 $ 37,779,886 $ 45,355,866 $ 51,587,041 $ 54,319,922 $ 62,248,752 $ 61,437,833 $ 69,739,656 $ 60,669,111 $ 66,376,820
Total net debt applicable to the limit
as a percentage of debt limit. 27.15% 28.84% 23.35% 20.04% 18.09% 13.34% 20.40% 17.98% 18.25% 16.69%
NOtO:
Under state finance law, the City's outstanding general obligation debt should not exceed 2.50 percent of total assessed properry value.
106
THIS PAGE INTENTIONALLY LEFT BLANK
107
CITY OF COLLEYVILLE, TEXAS
PLEDGED REVENUE COVERAGE
LAST TEN FISCAL YEARS
Water Re~~enue Bonds
Utilin~ Less: Net
Fiscal Seiti~ice Operaring A~~ailable Debt Seiti~ice
Year Charges Expenses Re~~enue Piincipal Interest Co~~erage
2001 $ 8,~77,716 $ 5,793,366 $ 2,68~,350 $ 566,000 $ 515,003 $ 1,603,3~7
2002 8,~07,033 5,909,8~8 2,~97,185 597,000 ~85,98~ 1,~1~,201
2003 8,8~0,900 6,~4~,48~ 2,396,~16 622,000 ~57,1~3 1,317,273
200~ 8,92~,9~2 6,117,278 2,807,66~ 680,000 ~06,306 1,721,358
2005 10,198,733 7,251,998 2,9~6,735 765,000 361,976 1,819,759
2006 13,136,~76 8,067,565 5,068,911 795,000 329,~51 3,9~~,~60
2007 10,0~6,030 8,0~0,621 2,005,~09 825,000 296,5~6 883,863
2008 11,~52,268 9,670,881 1,781,387 700,000 265,658 815,729
2009 11,~58,282 8,9~3,803 2,51~,~79 6~0,000 2~1,223 1,633,256
2010 11,~27,07~ 9,~58,355 1,968,719 680,000 213,358 1,075,361
Notes:
Details regarding the Cin~'s outstanding debt can be found in the notes to the financial statements. Operating
expenses do not include interest, depreciation, or amortizarion expenses.
108
TABLE 14
Drainage Re~~enue Bonds
Drainage Drainage Net
Seitiice Operarions A~ailable Debt Seitiice
Charges Expenses Re~~enue Piincipal Interest Co~~erage
$ 692,628 $ 230,578 $ ~62,050 $ 55,000 $ 1~2J72 $ 26~,270
615,099 256,866 358,233 205,115 85,550 67,568
70~,031 235,105 ~68,926 1~0,000 1~~,~17 18~,509
694,196 312,235 381,961 140,000 122,263 119,698
710,265 338,310 371,955 175,000 116,432 80,523
897,606 ~~~,700 ~52,906 150,000 111,252 191,65~
922,123 462,387 459,736 160,000 104,206 355,530
902,232 510,259 391,973 165,000 96,98~ 29~,989
889,163 500,677 388,486 170,000 90,138 298,348
899,870 ~8~,712 ~15,158 175,000 82,930 332,228
Sales Tax Bonds
Sales Tax Debt Seitiice
Increment Piincipal Interest Co~~erage
$ 823,9~6 $ 160,000 $ 4~3,~01 $ 220,~~~
881,921 170,000 533,066 178,855
768,8~6 18~,000 ~19,11~ 16~,732
873,626 195,000 ~06,~72 272,15~
982,8~~ 210,000 387,085 385,759
1,132,09~ 2~0,000 ~02,929 ~89,165
1,208,379 255,000 391,366 562,013
1,300,260 270,000 380,013 650,247
1,264,385 275,000 368,195 621,190
1,317,161 290,000 356,290 670,871
109
CITY OF COLLEYVILLE, TEXAS
DEMOGRAFHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
TABLE 15
Tarrant
Per Capita CounttT
Calendar Personal Personal Unemplo~Tment
Year Population Income Income Rate
2001 19,500 $ 147,258 $ 48,923 4.5%
2002 19,850 151,638 50,378 6.1%
2003 20,150 157,414 52,297 6.3%
2004 20,500 161,095 53,520 5.6%
2005 21,000 165,008 54,820 5.1%
2006 21,700 167,009 55,485 4.5%
2007 22,150 175,008 58,142 4.3%
2008 22,500 173,853 57,758 5.1%
2009 22,550 166,063 55,170 82%
2010 22,950 166,063 55,354 7.9%
Sources: Popularion - North Cenhal Texas Council of Go~~ei7nnents, personal income - Cin~ of Colle~~~~ille
Economic De~~elopment Deparhnent, Unemploy~ment Rate - Texas Worl~orce Commission
(unemploy~ment rate is not a~~ailable solely~ for the Cin~ of Colley~~~ille)
110
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
2010
Emnlover
Grape~ine Colley~ille ISD
Market Street
Lifetime Fitness
City of Colley~ille
Kroger
Co~~enant Cluisrian Academy
K-Mait
TGW Insurance
Albertsons
LaHacienda Ranch
Pa~ less Casli~~ a~ s
Sonslune Academti~
Mac's Steak and Seafood
Compass Cluisrian Church
Michael's Keti~s
Percentage
of Total Cin~
Employ ees Employ ment
538 10.4%
350 6.8%
230 ~.5%
171 3.3%
- - %
107 2.1%
- - %
95 1.8%
80 1.5%
75 1.5%
- - %
60 12%
50 1.0%
50 1.0%
50 1.0%
Total
Source: Cin~ Economic De~~elopment Di~~ision
*Tlus infoimation is una~~ailable.
968 23.3%
TABLE 16
2001
Percentage
of Total Cin~
Employ ees Employ ment*
~00 - %
- - %
- - %
161 - %
150 - %
- - %
1~~ - %
- - %
200 - %
100 - %
6~ - %
~0 - %
- - %
- - %
- - %
811 - %
111
CITY OF COLLEYVILLE TEXAS
FULLTIME EQUIVALENT CTTY GOVERNMENT EMPLOYEES
BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
TABLE 17
Fulltime Equivalent Employees as of September 30,
Function/Program 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
General government
Management services 7 6 6 6 6 6 5 5 4 4
Finance/court 6 6 7 7 7 7 6 6 6 6
Planning 5 5 5 3 3 3 3 3 3 2
Building 5 5 5 5 5 5 5 6 6 5
Other 4 4 3 4 5 5 6 6.5 7.5 9.5
Police
Officers 30 30 30 30 31 32 35 37 38 38
Civilians 10 10 10 10 10 11 13 14 14 13
Fire
Firefighters and officers 30 30 30 30 33 33 33 33 33 33
Civilians 1 1 1 1 1 1 1 1 1 2
Other public warks
Engineering 7 6 6 5 5 5 5 5 5 4
Other 3 3 3 3 3 3 3 3 3 3
Streets 11.5 10.5 10 10 10 10 10 10 10 10
Parks and recreation 12 12.5 12.5 12.5 12.5 12.5 13.5 13.5 13.5 16.5
Library - - 5.5 5.5 5.5 5.5 7.5 8.0 8.0 9.5
Colleyville center 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5
Water/wastewater 21.5 21.5 22.5 25.5 25.5 28 29 29 29 28
Drainage 3.5 3.5 4 4 6 6 6 6 6 6
Total 161.0 158.5 165.0 166.0 173.0 177.5 185.5 190.5 191.5 194.0
Source: City Human Resources Office
Notes: A fulltime employee is scheduled to work 2080 hours per year (including vacation and sick leave). Fulltime e quivalent employment is
calculated by dividing total labor hours by 2080.
112
Function/Program
General government
Building permits issued
Building inspections conducted
Police
Physical arrests
Calls for service
Traffic violations
Fire
Emergency responses
Ambulance calls
Inspections
Other public warks
Street resurfacing (miles)
Parks and recreation
Athletic field participants
Community center rentals
Library*
Volumes in collection
Total volumes borrowed
Water
Customers
Average daily consumption
(thousands of gallons)
Peak daily consumption
(thousands of gallons)
Wastewater
Customers
Source: Various Cit7 departments
*The Library opened in 2003.
TABLE 18
CITY OF COLLEYVILLE, TEXAS
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Fiscal Year
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
246 135 132 275 245 270 140 131 90 77
7,389 4,536 5,011 7,401 8,734 9,599 8,941 8,108 5,641 6,149
791 700 643 643 404 485 666 514 809 764
5,903 11,784 11,407 11,407 10,668 10,546 17,629 15,292 23,480 12,242
8,152 8,636 7,806 7,806 7,311 11,218 12,438 15,621 12,550 13,822
591 622 629 629 510 656 715 681 737 762
553 545 559 559 609 589 630 667 693 751
351 350 750 750 560 312 503 666 796 784
1 1 1 2 3 3 4.5 8.5 13.9 8.0
665 675 668 685 690 602 4,960 5,159 4,617 4,296
620 669 737 614 580 637 592 627 507 373
- - 21,757 22,334 34,656 43,378 46,311 50,348 54,659 58,147
- - 17,933 102,165 139,130 177,087 197,712 211,674 238,459 244,458
7,490 7,643 7,781 8,067 8,271 8,561 8,700 8,893 8,960 9,014
5,173 4,340 5,321 4,964 5,951 8,081 5,123 6,619 6,578 5,990
14,753 12,184 15,123 13,204 16,126 16,732 13,068 16,764 16,674 18,207
6,471 6,972 7,112 7,294 7,563 7,761 7,966 8,138 8,315 8,389
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CITY OF COLLEYVILLE, TEXAS
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Fiscal Year
TABLE 19
Function/Program 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Police
Stations 1 1 1 1 1 1 1 1 1 1
Patrol units 6 6 6 7 7 7 10 13 13 13
Fire
Stations 2 2 2 2 2 2 2 3 3 3
Public works
Streets (miles) 242 264 288 295 300 307 311 312 312 318
Streetlights 727 740 745 751 860 990 1,011 1,010 1,168 1,188
Traffic signals 1 1 2 2 2 2 2 2 2 2
Parks and recreation
Acreage 207 207 207 207 212 212 224 224 224 224
Playgrounds 5 5 5 5 5 5 6 6 6 6
BasebalUsoftball diamonds 9 9 9 9 9 9 9 9 9 9
Soccer fields 14 14 14 14 14 14 14 14 14 14
Community centers 1 1 1 1 1 1 1 1 1 1
Water
Water mains (miles) 150 150 152 170 173 175 191 192 199 200
Firehydrants 880 890 940 1,108 1,149 1,206 1,254 1,271 1,340 1,345
Storage capacity 4,900 4,900 4,900 4,900 4,900 4,900 4,900 4,900 9,900 9,900
(thousands of gallons)
Wastewater
Sanitary sewers (miles) 130 130 133 147 150 154 163 164 166 170
Storm sewers (miles) 52 54 55 56 57 58 59 59 63 63
Source: Various Cit7 departments
Note: No capital asset indicators are available for the general government or library function
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COMPLIANCE
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~,~
PATTILLO, BROWN & HILL,I,_L.Y.
CERTIFIED PUBLIC ACCOUNTANTS ^ BUSINE55 CONSULTANTS
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT
OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GO VERNMENT A UDITING S'TANDARDS'
To the Honorable Mayor and
Members of the City Council
City of Colleyville, Texas
We have audited the financial statements of the governmental activities, the business-type
activities, the discretely presented component unit, each major fund, and the aggregate remaining fund
information of City of Colleyville, Texas (the "City") as of and for the year ended September 30, 2010,
which collectively comprise the City's basic financial statements and have issued our report thereon
dated January 25, 2011. We conducted our audit in accordance with auditing standards generally
accepted in the United States of America and the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the City's internal control over financial
reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on
the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the
City's internal control over financial reporting. Accordingly, we do not express an opinion on the
effectiveness of the City's internal control over financial reporting.
A de~ciency in inte~nal cont~ol exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct nusstatements on a timely basis. A niate~iaJ weakness is a deficiency, or a
combination of deficiencies, in internal control such that there is a reasonable possibility that a material
misstatement of the entity's financial statements will not be prevented, or detected and corrected on a
timely basis.
Our consideration of internal control over financial reporting was for the linuted purpose
described in the first paragraph of this section and was not designed to identify all deficiencies in
internal control over financial reporting that might be deficiencies, significant deficiencies, or material
wealcnesses. We did not identify any deficiencies in internal control over financial reporting that we
consider to be material wealcnesses, as defined above.
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401 VdEST HI(iH~'~'AI' 6~ P. O. BO~ 2072~ ~~'~'ACO, T~ 76702-072~ ~(2~4) 772-4901~ F~~: (2~4) 772-4920 ~ ~cww.pbhcpa.com
AFFILIATE OFFICES: BROVdNS~'ILLE, T~ (9~6) ~44-7778 ~ HILLSBORO, T~ (2~4) ~82-2~83
TEl~7PLE, T~ (2~4) 791-3460 ~ ALBUQUERQUE, N1~7 (~0~) 266-~904
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City's financial statements are free
of material nusstatement, we performed tests of its compliance with certain provisions of laws,
regulations, contracts, and grant agreements, noncompliance with which could have a direct and material
effect on the deternunation of financial statement amounts. However, providing an opinion on
compliance with those provisions was not an objective of our audit, and accordingly, we do not express
such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that
are required to be reported under Uove~nnientAuditing,Standa~ds.
This report is intended solely for the information and use of management, City Council, others
within the entity, and federal awarding agencies and pass-through entities and is not intended to be and
should not be used by anyone other than these specified parties.
` ~};~, L . L.~.
~a~~.,o,'~-~~ ~ )
January 25, 2011
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