HomeMy WebLinkAboutComprehensive Annual Financial Report (CAFR)-Audit Records-9/30/2011CITY OF
COLLEYVILLE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2011
Prepared by
Finance Department
Terry Leake
Assistant City Mallager/Chief Financial Officer
Karen Hines
Finance Manager
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
YEAR ENDED SEPTEMBER 30, 20ll
Page
Number
INTRODUCTORY SECTION
Letter of Transmittal ........................................................................................................... 3- 6
Or~anizational Chart ........................................................................................................... 7
Certificate of Achieveinent ................................................................................................. 8
Principal Ofticials ............................................................................................................... 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 - Governinental Funds ........................................................... .............. 32 - 33
Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balance of Governmei7tal Funds to the
Statement of Activities .................................................................................... .............. 34
Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget and Act~ial - General Fui7d ..................................... .............. 35
(continued)
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continuecl)
YEAR ENDED SEPTEMBER 30, 20ll
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 - 70
Nonmajor Governmental Funds
Combininb Balance Sheet ............................................................................... ................. 74 - 79
Conlbining Statement of Revenues, Expenditures and
Changes in Fund Balances ........................................................................... ................. 80 - 85
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual - Debt Seivice Fund ........................... ................. 86
Agency Funds
Combining Statement of Fiduciary Net Assets ............................................... ................. 88
Combining Stateinent of Changes in Assets and Liabilities ........................... ................. 89
(continued)
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continuecl)
YEAR ENDED SEPTEMBER 30, 20ll
Page
STATISTICAL SECTION (Unaudited) Exhibit/Table Number
Net Assets by Coinponent ............................................................. .......... 1 92 - 93
Chan~es in Net Assets .................................................................. .......... 2 94 - 97
Fund Balances - Governmental Funds ......................................... .......... 3 99
Changes in Fund Balances - Governmental Funds ...................... .......... 4 100 - 101
Assessed Value and Estin~ated Actual Value
of Taxable Property .................................................................... .......... 5 102
Direct and Overlapping Property Tax Rates ................................. .......... 6 103
Principal Property Taxpayers ........................................................ .......... 7 104
Property Tax Levies and Collections ............................................ .......... 8 105
Principal Water Customers ........................................................... .......... 9 106
Ratios of Outstandin~ Debt by Type ............................................ .......... 10 107
Ratios of General Bonded Debt Outstanding ................................ .......... 11 108
Direct and Overlapping Governmental Activities Debt ................ .......... 12 109
Lebal Debt Margin Information .................................................... .......... 13 111
Pledged Revenue Coverage .......................................................... .......... 14 112 - 113
Demographic and Economic Statistics ......................................... .......... 15 114
Principal Employers ...................................................................... .......... 16 115
Fulltiine Equivalent City Goverm7lent Employees by
Function/Program ...................................................................... .......... 17 116
Operating Indicators by Function/Program .................................. .......... 18 117
Capital Asset Statistics by Function/Program ............................... .......... 19 118
(continued)
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continuecl)
YEAR ENDED SEPTEMBER 311, 20ll
Page
Number
COMPLIANCE
Report on lilternal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of
Financial Statements Performed in Accordance With ..................................................... 121 - 122
INTRODUCTORY SECTION
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February 7, 2012
To the Citizei7s of the City of Colleyville:
The Comprehensive Annual Financial Report of the City of Colleyville (the "City") for the fiscal year
ended September 30, 2011, is hereby subn~itted. 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 lalowledge 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 fiulds of the City. All disclosures necessary to enable the reader to gain an understanding of the
City's financial activities have been included.
lii 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 stateinents and maintaining accountability for
assets. The concept of reasonable assurance recognizes that the cost of a control should not exceed the
benefits lilcely to be derived, and the evaluation of costs and benefits requires estimates and jud~ments
by inanagement. We believe that the City's current systein 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 stateinents of the City of Colleyville for the fiscal year ended
September 30, 2011, are free of material misstatement. The independent audit involved examining on a
test basis, evidei7ce 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
stateinents for fiscal year ended Septeinber 30, 2011, are presented in conforinity with generally
accepted accounting principles (GAAP).
As required by GAAP, ma~lageinent provides a narrative introductioi7, overview and analysis to
accompany the basic finai7cial statements in the form of Manageinent's Discussion and Analysis
(MD&A). This letter of transmittal is designed to complement the MD&A and should be read in
conjunction with it. The City's MD&A can be found immediately following the independent auditors
report.
3
~D(J MAI~J STREET COLLEYVILLE, TEXAS 76Q34 ~817} 5a3-100p
PROFILE OF THE GOVERNMENT
On January 10, 1956, the City of Colleyville was incorporated and adopted a home-n~le charter on
January 15, 1977. It has a Council-Manager forin 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 inembers are elected on an at lar~e, non-
partisan basis for three year terms. The three year terins are staggered so that the Mayor and City
Council persons from Place 1 aild 2 are elected in year one, City Council persons from Places 3 and 4
are elected in year twq and City Council persons fron7 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,
n~unicipal court, streets, drainage utility, leisure services (parks and recreation, Colleyville Center and
library), water and sewer, engineering/community development, and general administrative services.
Based upon the criterion set forth in generally accepted accounting principles, the following
orgaiuzations are includable within tlie City's reporting entity:
Entitv
Method of lilclusion
Colleyville Economic Development Corporation (CEDC) Blended
Colleyville Crime Control and Prevention District Blended
Colleyville Tax Investinent Financing Reii7vestinent 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
n~essage to the City Council each year and the proposed bud~et 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 Septeinber and requires an affirmative vote of a majority of the
Council. The Gity 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 throu~h a bud~et 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 Gouncil.
LOCAL ECONOMY
The City of Colleyville is a residential-oriented community located 11 miles northeast of the City of Fort
Worth, 22 miles northwest of Dallas and 5 miles west of Dallas/Fort Worth International Airport in
Northeast Tarrant County. Relocations of residents to the City continued in fiscal year 2011, as did
commercial developinent. During the fiscal year, the City issued 104 residential building permits and
the average square foota~e of a residence was almost five thousand square feet.
4
The Library expanded to the second floor of the building with constn~ction completed in June 201 l. It
n~oved the existing children's area upstairs and provided programming/meeting rooms on the second
floor. The first floor of the Library is now primarily for adults, computer areas and includes new teen
room. In December 2010, there was a ribbon cutting on a roundabout at the intersection of Glade Road
and Pool Road, one the major intersections in Colleyville. The final design for the Pleasant Run and
John McCain Road intersection was completed, which will also be constructed as a roui7dabout. The
new Kidsville playground at City Parlc was completed, which contains over 40 play elements and a 20
foot tree house with a 12 foot spiral slide.
For the Future. The Parks ai7d Recreation Master Plan, which was adopted in November 2011,
provides for the constniction of inter-comlected trail segments throughout the City, with a major
segment of the Cotton Belt Trail opening in Febi-uaiy 2012. Major transportation projects will be the
constn~ction of Phase I of State Highway 26 / Colleyville Boulevard and the roundabout at 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 fi~nd
balance in both the General Fund and the Utility Fund. lii Fiscal Year 201 l, the policy was updated to
reflect the designations of non-spendable, restricted, committed, assigned and unassigned as required by
GASB 54. At the end of Fiscal Year 2011 both the General Fund and the Utility Fui7d have a fund
balance in excess of the required 90-day reserve. Amount in excess of the reserve may be used to fund
one-time capital expenditures.
As a part of the Fiscal Year 2008 budget process, the Mayor and Council and City Staff embarked upon
developing a multi-year streets capital improvements program. Additionally, tlie Council appointed a
citizen committee that reviewed street iiifrastn~cture needs and financing opport~inities. Their
recommei7dations were incorporated into an infrastructure program that was approved by Council in
Fiscal Year 2008. Improvements included in the plan, which were completed during Fiscal Year 2011,
were reconstn~ction of Brentwood Drive and Brentwood Court along with improvements to Cheelc-
Sparger Road, John McCain Road, L. D. Loclcett Road and Pleasant Run Road.
In Fiscal Year 2010, the City Council adopted a strategic plan, which incorporated the following
strategic points to achieve the City's vision:
• Malang a long-term commitment to economic development
• Fostering a more diversified tax base
• Protecting and preserving neighborhoods
• Delivering sustainable goven7ment
• Branding Golleyville with a unique identity
This vision was re-affirmed by City Council in August 20ll. In the area of sustainable govermnei7t, a
long-term Inforination Systems Manageinent Strategic Plail was adopted as was the Parlcs and
Recreation Master Plan. These two plans identify Year in7provements over the next five years
accoinpanied by funding sources. Additionally in the Fiscal Year 2011 budget, a transition was inade to
perforn~ance based budgeting, with linlcs to specific performance indicators to measure the efficiency
and effectiveness of service delivery.
5
AWARDS AND ACKNOWLEDGEMENTS
Awards. The Governinent Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Acluevement for Excellence in Financial Reporting to the City of Colleyville
for its comprehensive ai7nual financial report for the fiscal year ei7ded September 30, 2010. This was the
21~t consecutive year the City has received this prestigious award. In order to be awarded a Certificate
of Achievement, a goveri7ment inust 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
bud~et dated October 1, 2010. In order to qualify for this award, the City's bud~et document was
judged to be proficient in several categories, including as a policy document, a financial plan, an
operations guide, and a commuiucatioi7s 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 Departinent. We would like to express
our sincere appreciation to all employees who contributed to the preparation. Additionally, we would
also like to thank the Mayor, City Council, and City Mana~er for their support in planning and
conducting the finai7cial operations of the City in a responsible and progressive inani7er.
Respectfully subn7itted,
Terry Lealce
Assistant City Manager/Chief Financial Officer
Karen Hines
Finance Manager
6
CITY OF COLLEYVILLE
ORGANIZATIONAL CHART
PLANNING AND
LIBRARY ZONING
BOARD COMMISSION
PARKS AND
SIGN BOARD RECREATION
OFAPPEALS BOARD
CITY SECRETARY
MUNICIPAL
CITY ATTORNEY JUDGE
COMMUNICATIONS
DIRECTOR
CITY
MANAGER
CITIZENS OF COLLEYVILLE
I ZONING BOARD I
OF
ADJUSTMENT
AD HOC
COMMITTEES
COMMUNITY
DEVELOPMENT gUILDING INSPECTION
DIRECTOR PLANNING
ECONOMIC
DEVELOPMENT MARKETING
DIRECTOR
OPERATIONS
FIRE CHIEF INSPECTIONS
INVESTIGATIONS
EMERGENCY MANAGEMENT
PATROL
POLICE CHIEF INVESTIGATIONS
ANIMAL CONTROL
CODEENFORCEMENT
CITY
COUNCIL
ASSISTANT CITY
MANAGER/
CHIEF FINANCIAL
OFFICER
~ COLLEYVILLE
ECONOMIC
DEVELOPMENT
CORPORATI ON
CRIME
CONTROLAND TAX
PREVENTION INCREMENT
DISTRICT FINANCING
DISTRICT
------------------------
~
~
~
~
~
STRATEGIC SERVICES
MANAGER
HUMAN RESOURCES
MANAGER
PUBLIC
WORKS UTILITY STREETS
DIRECTOR ADMINISTRATION DRAINAGE ENGINEERING
AND OPERATION FLEET MAINTENANCE
7
COLLEYVILLE CENTER
MANAGER
LIBRARY DIRECTOR
PARKS AND
RECREATION
DIRECTOR
INFORMATION
SERVICES MANAGER
~
GIS
FINANCE MANAGER
UTILITY BILLING
MUNICIPAL COURT
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Colieyviile
Texas
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2010
A Certificate of Acluez-ement for E~cellence in Financial
Reporting is presented by the Go~- ei7uneut Finance Officers
Association of the Uiuted States and Canada to
go` enunent iuuts and pi~blic emplo3- ee retirement
s` stems ~~ hose comprehensi~ e aiun~al financial
reports (CAFRs) aclue~°e the lughest
standards in go~~eriunent accoi~nting
and financial reporting.
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8
CITY OF COLLEYVILLE, TEXAS
HOME RULE, COUNCIL - MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 20ll
David Kelly
Mayor
Carol Wollin
Councilmember, Place 1
Michael Muhm
Councilmember, Place 2
Stan Hall
Councilmen~ber, Place 3
Jody Short
Councilmember, Place 4
Tom Hart
Mayor Pro Tem and
Councilmember, Place 5
Milce Taylor
Councilmember, Place 6
Jennifer Fadden
City Manager
Terry Leake
Assistant City Manager/Chief Financial Officer
Karen Hines
Finance Manager
9
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lo
FINANCIAL SECTION
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12
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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 uiut, each n7ajor fund, and the
aggregate reinaining fund inforination of City of Colleyville, Texas, as of and for the year ended
September 30, 2011, which collectively coinprise the City's basic financial statements as listed in the
table of contents. These financial statemei7ts are the responsibility of the City's management. Our
responsibility is to express opinions on these fii7ancial 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 Gove~~yan~ey~t Az~ditif~g
Stas~da~•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 estin~ates n~ade by manageinent, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis for our opinions.
lii our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the goveriunental activities, the business-type activities, the
aggregate discretely presented coinponent unit, each n~ajor fund, and the aggregate remaining fund
inforination of the City, as of September 30, 201 l, and the respective changes in financial position and
cash flows, where applicable, thereof for the year then ended ii7 conformity with accounting principles
generally accepted in the United States of America.
In accordance with Uove~nmer~tAzrditing Standa~~'s, we have also issued our report dated January
24, 2012, on our consideration of the City's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, rem~lations, contracts, and grant agreeinents 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 opiiuon on internal control over
financial reporting or on compliance. That report is an integral part of an audit performed in accordance
with Gove~•f~rneritA2aditingStaf~dat~ds~ and should be considered in assessing the results of our audit.
13
~O1 WEST HIGH~'~I' 6~ P. O. BOZ 2072~ ~~~aCO, Tl 76702-072~ ~(2~~) 772-~901 ~ F_~1: (2~4) 772-4920 ~ ~cw~~.pbhcpa.com
~FFILI_~TE OFFICES: BRO~'NS~~ILLE, Tl (9~6) ~4d-777S ~ HILLSBORO, TZ (2~~) ~82-2~83
TEniPLE, T~ (2~4) 791-3460 ~ ALBUQUERQUE, Nb~i (~0~) 266-~904
Accounting principles generally accepted in the United States of America require that the
n~anagement's discussion and analysis on pages 17 through 24 be presented to supplement the basic
financial statements. Such iiiformation, although not a part of the basic financial statements, is required
by the Goveri7inental Accounting Standards Board, who considers it to be ai7 essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. We have applied certain liinited procedures to the required supplementary inforination 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 consistei7cy with management's responses to our inquiries, the basic finai7cial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do
not express ai7 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 forming 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 nonmajor fi~nd financial statements and schedules are the responsibility of managen~ent
and were derived from and relate directly to the underlying accounting and other records used to prepare
the financial statements. The ii7forination has been subjected to the auditing procedures applied in the
audit of the financial statements and certain additional procedures, including comparing and reconciling
such iiifonllation directly to the underlying accounting and other records used to prepare the financial
statements or to the financial staten~ents 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.
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January 24, 2012
14
MANAGEMENT' S
DISCUSSION AND ANALYSIS
~5
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16
Management's Discussion and Analysis
As inanagement of the City of Colleyville, we offer readers of the City's financial stateinent this
narrative overview and analysis of the financial activities of the City for the fiscal year ended September
30, 20ll. We encourage readers to consider the information presented here in coi7junction with
additional information that we have fi~rnished in our letter of transmittal, which can be found on pages 3
- 6 of this report.
FINANCIAL HIGHLIGHTS
• The assets of the City of Colleyville exceeded its liabilities as of September 30, 201 l,
by $161,441,283 (net assets). Of this amount, $27,949,369 (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 $4,665,603.
• As of the close of the current fiscal year, the City of Colleyville's governmental funds
reported combined ending fund balances of $28,902,127. Of this amount,
$10,223,232 is unassigned fund balance available for use witlun the City's fund
designation and fiscal policies.
• As of September 30, 2011, unassigned fund balai7ce for the General Fund was
$10,223,232 or 60.7% 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 stateinents are comprised of three components: (1) government-
wide financial statements, (2) fund financial statements and (3) ilotes to the fii7ancial statements. This
report also contains other supplementary information in addition to the basic financial statements
themselves.
Government-wide financial statements - The goveriunent-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 similar to a private-sector busii7ess.
The Statement of Net Assets presents information on all of the City's assets and liabilities, with the
differei7ce between the two reported as net assets. Over time, increases or decreases in net assets n7ay
serve as a usefi~l indicator of whether the financial position of the City is improving or deteriorating.
The Stateinent 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 iil 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 goverm7lent-wide financial statements distinguish fi~nctions of the City that are principally
supported by taxes and intergoveriunental revenues (governmental activities) from functions that are
intended to recover all or a sigiuficant portion of their costs through user fees and charges (business-type
activities). The governmei7tal 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 fi~nd is a grouping of related accounts that is used to n~aintain 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 demoilstrate compliance with finance-related
legal requirements. All funds of the City can be divided into two categories - governn7ental fiinds and
proprietary funds.
Governmental Funds - Governmental fi~nds are used to account for essentially the san~e functions
reported as governmental activities in the government-wide financial statements. However, ui~like the
goveriunent-wide financial statements, governmental fund finailcial statemeilts 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 goveriullental fi~nds is narrower than that of the government-wide financial
statements, it is useful to compare the ii7formation presei7ted for goverilmental fiu7ds with similar
information presented for govermllental activities in the government-wide financial statements. By
doing sq readers may better ui7derstai7d the long-term impact of the government's i7ear-term finai7cing
decisions. Both the governmental fiinds balance sheet and the governmental fiind stateinents of
revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this
comparison between governmental fi~nds and governmental activities.
Begim7ing on page 30 of this report, information is presented separately in the Governmeiltal 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
goveriunental fiu7ds are combined into a single, aggregated presentation. Individual fund data for each
of these non-major governmental fiulds 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 goveri7ment-wide financial
statements. The City uses Enterprise Funds to account for the Water and Wastewater and Drainage
Utility Funds.
Proprietary funds provide the saine type of information as the governinent-wide financial statements,
only in more detail. The basic proprietary fund financial stateinents which begin on page 36 of this
report provide separate inforination for the Water and Wastewater and Drainage Utility Enterprise Funds
since these are considered to be major fi~nds of the City.
Notes to the Financial Statements - The notes provide additional inforn~ation that is essential to a fi~ll
understanding of the data provided in the goveriullent-wide and fund financial statements. The notes to
the financial stateinents can be found on pages 41 - 70 of this report.
18
Other Information - In addition to the basic financial statements and accompanying notes, this report
also presents combiiung fund statements and schedules that further support the infornlation in the
financial statements. The coinbining fi~nd statements and schedules for nonmajor funds are presented
immediately following the notes to the financial statements begii7nii7g oi7 page 74 of this report.
GOVERNMENTAL-WIDE FINANCIAL ANALYSIS
As noted earlier, net assets inay serve over time as a useful indicator of government's financial position.
In the case of the City of Colleyville, assets exceeded liabilities by $161,441,283 as of September 30,
2011.
The largest portion of the City's net assets ($122,058,240) reflects its investments in capital assets (e.g.,
laild, building, equipmeilt, improvements, coi7struction in progress and infrastructure), less any
outstanding debt used to acquire those assets. The City uses these capital assets to provide service to
citizens; consequently, these assets are not available for future spending. Although the City's
investn~ent 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
cai7not be used to liquidate these liabilities.
CITY OF COLLEYVILLE'S NET ASSETS
Go1-~YUUental ~cti1-itiee
2011
2010
Bnsinass-tc~pe ~oti1-itiee
~nii ~nin
Totals
2011 2010
Cuirzntandothzrasszts $ ~0,8~9,~07 $ 29,18d,80~ $ 12,d~0,L~ $ 10,1~9,~~~ $ 4~289,~4~42 $ ;9,~dd,~40
C~pital~sazts 10~,87;,;76 104,99~,671 4~,97~,9d8 ~~,29~.0~; 1~7.8~8.~24 1~0,289,71d
Tot~l ~ssats 1~~,712,683 1~~,179,~76 ~G,~2~.083 »,~~~,~7R 191,1 ~7,766 189,6 ~d,0~~
Othzrliabilitizs ~,G67,8~9 ~,9~G,264 2SG1,102 2?41,6_4 6228,9~1 6,177,898
Lon;-tzrmliabilitize 19?69,~7~ 21?78,1~6 4,198,0~7 ~,402,~~0 2~,~67,~~2 26,680,476
Tot~lliabilities 22,9;7.~24 2~,21~.~00 6.7~9,1~9 7,6~~,97~ 29,696,~8; _2,8~8,~7~
Net ~ssets:
Li~ zetul in a~pit~l ~asats,
natofrzl~tzddzbt 8~,166,142 81,970,67~ ~8,892,098 39,080,0~~ 122,0~8,2~0 121,0~0,717
Restriated 10,771,624 l1,d77,>>9 662.0~0 98~,22~ ll,d~~,674 12,d60,~Gd
Um~zstrictzd 17,8~7,~9~ 1~,~17,06~ 10,111,776 7,747,~~6 27,949,_69 2_,26d,~99
Totalnat~ssets $ 111,77~,~~9 $ 108,9G~,076 $ d9,6G~.924 $ d7,810,60d $ 1G1,441,28; $ 1~6,77~,680
A portion of the City's net assets ($11,433,674) represents resources that are subject to external
restriction on how they n~ay be used. The remaiiung balance ($27,949,369) of unrestricted net assets
may be used to meet the City's ongoing obligation to citizens and creditors in accordance with the City's
fiu7d designation and fiscal policies.
As of September 30, 201 l, the City has positive balances in all three categories of net assets, both for the
City as a whole, as well as for its goveri7mental and business-type activities separately. The increase of
$4,665,603 in net assets relating to governmental activities is due to an increase in sales tax, an increase
in building permit revenues as well as reductions in General Fund expenditures. The increase in net
assets of business type activities is related to water sales during a period of extreine drought conditions
which began during the first month of Fiscal Year 2011 coupled with a record setting nuinber of days in
summer 2011 with temperatures in excess of 100 degrees.
19
Analysis of the City's Operations - The following table provides a summary of the City's operations
for the year ended Septen~ber 30, 201 l. Goveriunental activities increased the City of Colleyville's net
assets by $2,810,283, accounting for all of the total growth in net assets. Business-type activities
contributed an ii7crease to the City's net assets of $1,855,320.
R~~~znuz5:
Program reeemies:
Char~es for ser~ icea
Opeintin~ grants
and contribntions
Cnpital gnnts
and contribtitions
Genernl revemiea:
~d vnlorem tn~es
Salzs tales
Franchiae t~2ies
Other tases
Li~•eytment aai7iings
~115~011.11100L1S
Gnin on anle of
capital a~sets
Total rz~enuzs
Elpensea:
General ~o~-erninent
Conmmnit~ deaelopinent
and engine~rin~
Fire nnd reacne
Lzism~z ser~•icea
l~,inintenance
blunicipal cotut
Policz
Sh~eets and drainnge
Water nnd ~anyte~~~ater
Drainage
Interest on
lon~ terni debt
Totnl eipenaes
Licreases in nzt sssets
before transfers
Ti:~uisfers
Chnnge in net a5sets
Net assets, bzginning
Net naset5, ending
CITY OF COLLEYVILLE'S CHANGES IN NET ASSETS
Goeenun~ntnl ~eti~~iti~s Busin~s8-tVp~ ~cticities
2011 2010 2011 2010 2011
2010
$ 3,821,848 $ 3,018,966 $ 1~,2~8,~07 $ 12,311,786 $ 19,080,3» $ 1~,330,7~2
822A~6 ~43,~16 - - 822A~6 ~43,~16
40~,347 423,873 168,36~ 147,01~4 ~73,712 ~70,887
12,414,9-48 12,»7J16 - - 12,~14,9~R 12,~~7,716
~,0~6.~97 4,936,~84 - - ~,0~6.~97 ~,93C,,~5~
2,031,268 1,867,06~ - - 2,031,268 1,3C,7,06~
50,731 7~,36~ - - 80,731 7~,36~
9~,822 76968 38,67~ 1~,1>8 134,496 92,126
~~.~~-4 ~2,533 - - ~~,4~~ £2,~33
- 6~,306 - 1~,864 - 81,170
24,78~.071 23,6~}8,092 1~.46~,~46 12,489.822 40,249.617 36,137,91~
2,71~.1>d 2,691.90> - - 2,71~.1~4 2,691,90~
1,~02.669 1,6~~.221 - - 1,402,669 1,64~,221
~,~21.~96 ~,~19.9~~ - - ~,~21,~96 ~,~19,9~~
~4,191,9C,0 ~4,118,7C,9 - - 4,191,960 ~,118,769
~112,~12 423,783 - - 412,~12 423,783
303,839 302,7~6 - - 303,839 302,7~6
4,878A» 4,836,27~4 - - 4,878.0~~ 4,336,274
3,6~7.~91 3,88~,182 - - 3,6~7,~91 3,88~,182
- - 12,009,187 11,242,»3 12,009,187 11,242,>j3
- - 742,160 ~72,234 742,160 ~72,234
8~49,390 1,000,061 - 296,288 8~9,390 1,296,3~9
22,832,666 23,323,896 12,7~1,347 12,111.07~ 3~,~84,013 3~,434,971
19~1.~0~ 32~,196 2,71~,199 378J~7 4,66~,604 702,9~3
8~8,879 8~7,622 ( 8~8,879) ( 8~7,622) - -
2,810,28d 1,181,818 1,8»,320 ( 475,87~) d,66~,604 702,943
108,96~,07~ 107,783,2~7 47,810,60d ~45,289,479 1~6,77~,679 1~6,072,736
$ 111,77~,3~9 $ 108,96~,07~ $ ~9,66~,924 $ ~7,810.60~4 $ 161,4~1,283 $ 1~6,77~,679
FINANCIAL ANALYSIS OF THE GOVERNMENT'S FUNDS
Governmental funds - The focus of the City of Colleyville's govermllental fi~nds is to provide
information oi7 near-term inflows, outflows, and balances of spendable resources. Such inforn7ation is
usefi~l in assessing the City's financing requirements. In particular, unreserved fi~nd balance may serve
as a usefi~l n~easure of a government's net resources available for spending at the end of the fiscal year.
Tot:~i~
20
At the end of the current fiscal year, the City of Colleyville's governinental fi~nds reported combined
ending fiind balances of $28,902,127. Approximately 35% of this total ainount ($10,223,232)
constihites unassigned fi~nd balance. The remainder of the fund balance ($18,678,895) is reserved to
indicate that is not available for new spendin~ because it has already beei7 cominitted 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's original budgeted revenues exceeded expenditures by $16,522. While
there was a budget adjustinent in Fiscal Year 2011, the expense was offset by additional revenues; the
final budgeted decrease in fiu7d balance was $623,478. The actual increase to fiuld balance for the
Gei7eral Fund was $1,353,259 for fiscal year 2011, due to greater than anticipated revenues from sales
taxes, franchise taxes, building pern7its and reductions to overall departmental expei7ditures.
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 stateinents, but in inore detail.
Unrestricted net assets of the respective inajor proprietary fi~nds are Water and Wastewater
($8,951,371), and Drainage Utility ($1,160,405). The Water and Wastewater fund experienced an
increase in total net assets of $1,692,209 during Fiscal Year 2011 due to increased water sales caused by
the extreme drought and summer weather conditions. The Drainage Utility fi~nd's net assets increased
by $163, ll l, due to increased service charge revenue and reductions to expenditures.
Governmental Activities - The inajor increase in revenues comes fron~ the Charges for Services
category, priinarily due to the City receiving a one-tiine signing bonus of over $.7 million for a gas lease
on City-owi7ed property in FY 2011, and an increase in both license and permit revenues due to ail
increase in the issuance of residential building permits in the latter half of the fiscal year. Fines and
forfeitures were down slightly due to the enhanced community policing efforts. The properry tax base
decreased approxiinately $9 inillion, due to the revaluation of property, however the current year tax
collection rate was over 99% of the levy.
There was no pay increase included in the Fiscal Year 2011 budget for the General Fund or other funds,
due to current economic conditions. Additionally, 12 full-time positions were eliminated, 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 continued to budget $1,000,000 in the Street
department for the street overlay budget, which can overlay approximately five miles of City streets.
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 $14,355,418 for
the fiscal year. Water sales ii7creased due to a rate increase in February 201 l, which passed through a
rate increase from the Trinity River Atrthority, the City's provider of treated water, and the higher than
normal average usage due to the extreme drou~ht throughout the fiscal year and extreme summer
temperatures. Wastewater sales increased primarily due to higher 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 fiind was 4.ll for the fiscal year,
exclusive of transfers. The slight increase in the Drainage Utility Fund's revenues was due to new
residential and commercial construction.
21
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 due to higher usage. The Authority's rate
increase relates to higher cost for electricity, debt issuance for plant expansion, replacement of system-
wide aging infrastn~cture ai7d compliance with federal water ai7d wastewater mai7dates.
General Fund Budgetary Highlights - The City made revisions to the original appropriations
approved by the City Gouncil. Overall, these changes resulted in an increase from the original budget of
$600,000. The budget amendn~ent was for the fiu~ding in the an~ount of $300,000 for the acquisition of
new financial software and $200,000 for a transfer to capital projects for the fi~nding of future street
rehabilitation projects. Alsq included iil the budget amendment was the transfer of unspent street
resurfacing appropriations to the Capital Projects fund for future street projects.
The General Fund's overall budgeted revenue decreased by $2,156,824. The three major decreases were
in the licenses and permits category was due to new residential home construction activity remaining at
a lower than ai~ticipated level and a budgeted decrease in sales tax revenues due to economic conditions.
There were two Fiscal Year 2010 revenues wluch were one-tiine items, the budgeted $702,000 draw
down fi~nd balance for street improvements in the Saddlebroolc subdivision and the other financing
sources for fire tnick lease proceeds in the amount of $981,238, which did not recur in Fiscal Year 20ll.
However, there was an increase in revenue from elimination 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 201 l.
CAPITAL ASSETS
The City of Colleyville's investment in capital assets for its governmental and business-type activities as
of September 30, 2011, amounts to $147,848,324 (net of accumulated depreciation). This investment in
capital assets includes land, building, equipment, improvements other tlian buildings, iiifrastructure and
construction worlc in progress. Major capital asset events occurring during the current fiscal year
included the following:
• Capitalized approximately $.4 nullion in park improvements with the completion of
the Kidsville playground;
• Capitalized approximately $.6 million in building improvements with the completion
of the second floor expansion of the Library;
• Capitalized approximately $9 million in street improvements and contributions; and
• Capitalized approxiinately $.3 inillion in water and wastewater systein projects and
contributions including the new water lines at the Glade aild Pool Road intersection
and a new 10" water line on Oak Knoll Drive.
22
CITY OF COLLEYVILLE'S CAPITAL ASSETS AT YEAR-END
Land
Btiildings .md improvement~
Equipment
Liti~ashlicfire~'~~ ater
dish'ibtition se~n~zr coll~ction
Conahliction in progreas
Lzss: accumulated
deprzciltion
Total cnpital assets
Gocenunental ~ctieities
2011
$ 9,293,6~4 $
44,330.31-4
9,390,361
76,9~9,£S4
1,17R,4>j
2010
9,293,6~~
43,607,7d~
~.iso.~~c
Busineys-hpe f:cti~ities Totaly
2011 3010 2011 2010
$ 313,0~7 $ 313,0~7 $ 9,606,711 $ 9,606,711
~3,922 ~3,922 44,934,236 ~43,66LC,67
1,~9~,39~ L~8Z~62 10,9b~,7» 10,768,228
76,03L~18 68,4~7,~11 6b,134,6~7 1~~,417,39~ 144,166,16~
1,21~,37~ 718,330 479,2b0 1,896,7b~ 1,694,6>j
( 37,829,292) ( 34,33~4,287) ( 27,163,266) ( 2~,273.42~) ( 6~},992,»8) ( ~9,607,712)
$ 103,573,376 $ 1O4,99d,671 $ ~43,974,948 $ 4~,29~,0~3 $ 147,5~8,324 $ 1~0,259,714
Additional iiiformation 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 $25,903,448. Of this amount, $11,510,000 represents bonded debt baclced by
the full faith and credit of the government, $8,271,278 represents bonds secured by sales tax revenues,
$3,600,000 represents bonds secured solely by water and sewer revenues, and $1,550,000 represents
bonds secured solely by drainage utility system revenues. The City's capitalized lease obligations of
$972,170 pertain to the purchase of a fire pumper truck and ambulance and the lease purchase of a mid-
mount aerial platform fire apparatus, which occurred in prior years.
OUTSTANDING DEBT AT YEAR-END
BONDS, NOTES AND CAPITALIZED LEASE OBLIGATIONS PAYABLE
G~n~ral obli~ation bonda
and czrtillcatza of
obli~ation
Snlea tni recenne bonda
Revemiz bonds pa~'able
Capitalized lzase
obligations
Go~ernmzntal ~cticitiz5
2011
2010
Business-t~pe Acti~ities
2011 2010
Tota15
$ 1L~10,000 $ 13,300,000
b.271,278 R.~72,R2~
972,170 1,1~1,173
2011 2010
$ - $ - $ 11,~10,000 $ 13,300,000
- - 8,271.278 8,~72.824
~,1~0,000 6,21~,000 ~,1~0,000 6,21~,000
- - 972,170 1,1~1,173
$ 20,7~3,4~8 $ 23,023,997 $ ~,1~0,000 $ 6,21~,000 $ 2~,903,d~48 $ 29,238,997
The City's General Obligation, Tax and Water Works and Sewer System Certificates of Obligation, ai7d
Water Worlcs and Sewer Systein Revenue Bond ratings are listed below.
General Obligation Bonds
Water Re~°enne Bonds
Standard
Fitch ICBA and Poor's
AAA AAA
AAA AA+
23
During Fiscal Year 2011, 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 tenn-debt can be found in footi7ote 4 on
pages 58 - 65 of this report.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES
The General Fund budget including transfers in for Fiscal Year 2012 is based on a projected reveilue
increase of 3.7% as compared to the fiscal year 2011 budget. There is a 3% increase projected in
General Fund property tax revenue due to a declining portion of the tax rate committed to debt service
repayment, which increases the amount allocated to the General Fund. This is the largest revenue source
and comprises 57% of General Fund revenues. The total tax rate for Fiscal Year 2012 is $.3559, which
is uilchanged since Fiscal Year 2008. Approximately 14% of General Fund revenues are sales taxes,
and sales taxes are budgeted at a 9.5% increase over the Fiscal Year 2011 budget, due to improving
economic conditions. Another revenue increase ($88,133) is in the area of franchise fees due to the
settleinent of a lawsuit with the electric franchise holder for the payinent of retrospective franchise fees.
There is no utilization of surplus fiuid balance in the adopted Fiscal Year 2012 General Fund budget;
however there is a utilization of $116,839 of fimd balance in the adopted Fiscal Year 2012 Debt Service
budget due to the current level of existing fund balance.
There is a two percent one-tin~e luinp suin salary payment to employees included in the Fiscal Year
2012 budget, fi~nded primarily from the cost decrease in health insurance premiuins. Additionally, there
was the addition of one police officer and two firefighters and the eliinination of a building clerlc
position. There is a commitment to upgrading the City's computer and communications infrastnicture
with funding for the city-wide replacement of the phone system and the centralized virtual environment
in a computer data center. The General Fund continues to fi~nd $1,000,000 in the Street deparrii7ent for
the street overlay budget, which will overlay approximately five iniles 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 update completed in fall
2011. The study reviewed tiered rate options for increasing cost for increased usage by tier and
incorporated passing through projected Trinity River Authority (TRA) rate increases to maintain the
financial stability of the Water and Wastewater Fund in fiiture years.
REQUEST FOR INFORMATION
The financial report is designed to provide our citizens, customers, investors and creditors with a~eneral
overview of the City's finances. If you have questions about tlus report or need any additional
inforination, contact Terry Lealce, Assistant City Manager / Chief Financial Officer, at 100 Main Street,
Colleyville, Texas 76034, or call (817) 503-1ll5.
24
BASIC
FINANCIAL STATEMENTS
25
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF NET ASSETS
SEPTEMBER 30, 2011
Govenunental Busuless-n~pe
Activities Activities
ASSETS
Cash and equivalents $ 14.103.362 $ ~.824.343
Investrnents 1 ~,111.409 3J77,338
Receivables (net of allo~~~ances for uncollectibles of $3~11.247)
Accounts 70.021 2.~96,904
Propert~~ ta~es 280.360 -
Due from otller governments 1.03~,917 -
Other assets - 122,167
Inventories 2,147 127.~65
Deferred charges 222.33~ -
Accrned nlterest 13J~6 1,818
Capital assets:
Land 9,293.6~~1 313,057
Buildnigs and nnprovements ~1~1,880.31~1 53.922
Equipinent 9.390,361 1,~9~.39~1
Infi~ashl~cture%-°ater distr-ibutioi~/se~~-°er collection 76.9~9,884 68,~157,510
Consh-uction ul progress 1.178,4» 718.330
Less: accumulated depreciation ( 37,829.292) ( 27.163,26~)
Total capital assets 103,873.376 43.97~1,9~18
Total assets 13~1,712,683 ~6,42~.083
LIABILITIE S
Accoittits pa~~able 7~0.0~3 980.839
Accrued liabilities 331,876 49.718
UneaiYled revenues 10,74R -
Accrued niterestpa~~able 131,976 30.210
Advances from developers 201,~460 73,396
Escro~ti fiinds - 26.613
Custoiner deposits 91.697 427,774
Noncurrent liabilities:
Due ~vithni one ~Te~u 2,1~0,039 972.~52
Di~e nl inore than one vear 19,269.475 4,198.0~7
Total liabilities 22.937_324 6,7~9,1 ~9
NET ASSETS
Invested ni capital assets. net of related debt 83.166,1~12 38,892.098
Restr-icted:
Debt seivice 1,106,893 662.050
Coi~rt securin• ~id technolo~v 1~3,~420 -
Grant pro~i~~ns 23,208 -
Leisure services 201.184 -
Econoinic development 1.863,900 -
Streets and dranlage 6.~128.106 -
Police 99~1913 -
Uiu-estricted 17.837,~ 93 10,111 J76
Total net assets $ 111,77~.3~9 $ ~19,66~,92~1
The accompanying notes are an integral part of these financial statements.
26
Total Component Uruts
$ 19.927,70~ $ 10.0~ 1.730
18.888,747 1.490,434
2.666.92 ~ -
280.360 -
1,03~,917 -
122.167 -
129J 12 -
222,33~ 11 ~.1 ~7
1 ~.~7~1 60
9.606.711 L800.940
44,934.236 -
10,98~.7» -
145,417.394 -
1,896,785 ~1,453,810
( 64.992.»7) ( 108.0~6)
147.848.324 6.146.694
191,137.766 17,804.07~
1,73Q892 -
381.~94 -
10.748 -
162,186 19,606
274,8~6 -
26,613 -
519,471 -
3,122,~91 530.000
23,46Z~32 4,891.012
29.696,~183 ~.d40,618
122,0~8_240 725,682
1,768,943 -
153,~120 -
23,208 -
201,184 -
1,863,9U0 -
6.428.106 -
994.913 -
27,949.369 11,637.775
$ 161,~141.283 $ 12,363.~1~7
27
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 311, 2011
Pro~~am Revenue
Functions Pro~~auns Elpenszs Chmges for Seraicea
Primaiy go~~ei7unent
Cio~ ernmzntal 2cti~~itizs:
Creneral ~o~enunent $ 2,71~,1~~ $ 97,234
Connminit~- deaelopme~nt L402,669 868,363
Fire and reacue 4,42 L~396 30~,882
Leiaure szr~ices 4,191,960 1,213,1C,7
b~llintennnce 412,~13 -
~lunicipal cotut 303,839 970,1~43
Police 4,875,0~~ 70,709
Sh~eets and drainlge 3,6~7,~91 296,3~0
Intereat on long-tenn debt b49,390 -
Totnl govemmentnl nctivities 22,b32,667 3,821,84b
Buyinzsy-t~ pz acti~ itizs:
Vdnter nnd ~a,nste~~,nter 12,009,187 14,3»,418
Drainage 7~2,160 903,089
Total busine5s-tppe acti~-itie5 12,7~1,347 1~,2~8,~07
Totnl priinar~ ~ocei7miznt
Co~nponent unit
Tal increment tlnancing
Total component unit
$ 3~,~34,01~ $ 19,080,3~~
$ ~,076,~70 $ -
$ ~,076,~70 $ -
General re~ enues:
Tases:
Propert5- tnley, lzvied for ~enernl purposes
Propert~° tasea, laeied for debt ser~ ice
TIF tases
Sales taszs
Franchisztn~es
Othertnies
In~ eshnent evnings
niiacellnneotis
Transfers
Total general re~•amias mid trmisfera
Chmige in net nasets
Nzt nssets - be~inning
Net asset~ - endin~
Operatin~ Cn~ants Cnpital Cn~ants .uid
$ 2,904 $ -
1~9,181 -
~70.867 4,91 ~
99,104 -
- 400,432
- 168,36~
- 1VJ,JVJ
$ S22A~6 $ ~73,712
$ - $ -
$ - $ -
The accompanying notes are an integral part of these financial statements.
28
Nzt (E~pense) Re~ enu~ mid Chnn~es in Nzt :~ss~ts
Primsr~ Go~ernment
~i0\~Zl'11111Z11Y:11 BUSll1ZtiS-Y~~])Z
r;CtlFltlZy ~Ctl~`1t10S TOt11 COll1~0110llt tTllltS
$( 2,61J,016) $ - $( 2,61~,01~ $ -
( ~3~4,306) - ( ~3d,306) -
( 3,966,433) - ( 3,966,433) -
( 2,403,011) - ( 2,403,011) -
( ~12,~13) - ( 412,~13) -
666,304 - 666,304 -
( 4,708,2~2) - ( 4,708,242) -
( 2,960,509) - ( 2,960,509) -
( 849,390) - ( b49,390) -
( 17,783,416) - ( 17,783,~16) -
- 2,~14,~96 2,~1~,~96 -
- 160,929 160,929 -
- 2,C,7~,~2~ 2,67~,~2~ -
( 17,783,~16) 3,67~,~2~ ( 1~,107,891) -
~,076,~70)
~,076,~70)
10,380,140 - 10,380,140 -
2,03~,808 - 2,03~,808 -
- - - -4,91~,~85
~A~6,~97 - ~,0~6,~97 -
2,031,268 - 2,031,268 -
80,731 - 80,731 -
9~,822 38,674 134,496 23,010
»,~~~ - ~~,~~~ -
S~S,379 ( 5~8,579) - -
20,~93,C,99 ( 820,20~) 19,773,494 4.941,~98
2,810,283 1,8~~,320 ~4,66~,603 ( 134,972)
108,96~,076 d7,810,604 1~6J7~,6S0 12,~98,429
$ 111,77~,3~9 $ ~9,66~,92~4 $ 161.441,283 $ 12,363,~~7
29
CITY OF COLLEYVILLE, TEXAS
BALANCESHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 20ll
Gznernl Cnpitnl Projects
~SSETS
Cnsh nnd cnsh zqnivalznta $ 3,176,82~ $ 3,670,289
Inceahnenta 5,128,940 2,99~,192
Rzcei~~nbles (net of 211o~n.~uices for uncollectible:
~CCODllYS 70,021 -
Taiza 230,39b -
Dtiz fi~om other fiinds 146.481 -
Du~ fi~oin other go~ enmients ~08,719 -
In~•entories 2,147 -
~ccni~d interest 9,33~ 2,011
Total asaets $ 12,272,86~ $ 6,667,~92
LI:~BILITIES :~ND FIIND BAL:~NCES
Linbilities:
~CCOL7llY5 ~1~~:1VIZ `~ J9J,2~Cl ~ 9R,'~9R
~ccnied linbilities 316,926 -
Ihie to other fiinds - -
Dzfeirzd rz~ znu~ 289,797 -
~daance~s 1i~oin decelopers 46,848 140,888
Cnstomzr deposits 91,697 -
Total linbilities 1,340,~~4 239,386
Fund balances:
Non-spendnUle 2,1~7 -
Rzsh~ictzd:
Streat5 and drainage - 6,~428,106
Debt aeraice - -
COUl"f 50CD1'lty Hll(1 t0C1ll10jO~P - -
Grant programs - -
Leisure aer~-ice5 - -
Economic development - -
Police - -
Committed:
Stiate~ic ince~nti~es 6~,008 -
Salea tnl incentiaes 641,934 -
L,ZISL7I'Z S0I'~'1C08 - -
Capitnl pr~jzcts - -
.~ssigned
Capitnl prqjacts - -
Kec~ clin~ - -
L,esiure sereices - -
Unnssi~ned 10,223,232 -
Total fiuid bal:uiczs 10,932,321 6,428,106
Total linbilities ~uid fimd balmiczs $ 12,272,56~ $ 6,667,492
~nounts reported for governmental acti~ ities in the stntemz nt of net nssets are different beamse:
C~~it:il aaazts t~sed in goczrnmentnl ncti~ ities are not 1lnnncial resourc~s 3nd, therzforz, :u~e not reported in thz fiinds.
Other lon~ term nasata are not nvnilnbla to pa}T for cuirent-period e~pendihxrea .md, therefore are defaired in the fiinds.
Lon~ term liabilities nre not dn~ nnd pa~~nble in the cuiren t period .uid thzreforz, u~z not r~port~d in the fiuids.
Net nsseta of go~~~nnnentnl nctiaities
The accompanying notes are an integ ral part of these financial statements.
Debt Sei-~ icz
$ 1,194,571
49,962
37~
$ 1.24~,207
$ -
6,33b
49,962
~6,300
1,1b8,907
i,i~a, ~u i
$ 1,24~,207
30
i£
6S£`SLL`TTT $
(SST~6Z£`TZ >
T TO`6Z£
9L£`£L8~£OT
6SS`LLS`OT $
L ZT `Z06`8Z £6CZS £`0 T
Z£Z~£ZZ`OT -
h06`L h06`L
Th0`t TtO~t
£09~9£i~T £09~9£T`T
LLt~LRZ`S LLt`LSZ`S
£tT `039 £1-T `OS9
h£GTt~9
S00`C9
£T6`h66 £TGh66
006`£98`T OOG£98`T
h8T`TOZ bSi`TOZ
soz~~z soz~~z
OZh`£ST OZh`£ST
L06`88T`T -
90T~8Ztr~9 -
LtT`Z -
9Z£~T93`T 960`SZZ
L69`T6 -
09b`TOZ hZC£T
6SL`6££ -
T8t`9tT TRt~9tT
9L8~T££ ZT9~3
£SO`OSL $ 6LZ`9S $
£St~£9L`0£ $ 688`LLS~OT $
9SC£T OTb~Z
LtT`Z -
LTGS£0`T tZ8`9ZS
T8t`9tT -
o~F~osz -
TZO~OL -
60h`T T T`ST LLZ`L8G£
Z9£'£OT`hT $ 8L£~T90`9 $
fi~IIll3 JE~LI2LIICLI2_10i] ,IOLJ~U
JL`~II~LLTLU~90iJ JL'~U~
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2011
General Capital Pr~jects Debt Service
REVENUES
Ta~eS $ 15,171.4~0 $ - $ 2,042.6R3
Fees and fines 949.613 - -
Licenses and pennits 923,590 - -
Inter~overnmental - ~100.432 -
Cll~r~es for 5ervices 992,912 - -
Capital unprovement fees - 281.260 -
Donations - - -
Investrnent earnings 62,332 14,196 2,180
Miscellaueous 5~,4~3 - -
Total revenues 18,1».3~0 69~.888 2,0~1~1.863
EXPENDITURES
Current
Ueneral QoveiYUnent 2,343.06~ - -
Communit~~ development and enguleeruig 1,278.136 - -
Fu-e and rescue 3,837.229 - -
Leisure services 2.681,2~1 1,018 -
Maintenance ~10~,911 - -
Municipal court 2~6.11~ - -
Police 4.1 ~3.~13~ - -
Streets and draniaQe 1,827.3~ 1 224.947 -
Debt 5eivice:
Prnicipal - - 1,9~9,004
Interest and other charges - - 494,12~
Capital outla~~ 64.7R8 72~.648 -
Total e~penditures 16.847,281 9~ 1,613 2.~1~3,129
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 1,308.069 ( 2~5.72~) ( ~108,266)
OTHER FINANCING SOURCES (USES)
Proceeds fi-om lona-term debt, net - - 2,94~.000
Pa~~ment to bond escro~v agent - - ( 3,012,910)
Premium on bond issue - - 6.~61
Sale of capital assets 7,098 - -
Transfers ui 8~8,879 370,787 ~03.9~2
Transfers out ( 820J87) - -
Total other fin~ulcina sources and uses 4~,190 370,787 442,603
NET CHANGE IN F`UND BALANCES 1,353,2~9 115,062 34,337
F`I7ND BALANCES, BEGINNING 8.813.597 6.313,0~14 1.154,570
CHANGE IN ACCOUNTING PRINCIPLE 76~,46~ - -
F`UND BALANCES, ENDING $ 10.932.321 $ 6,428,106 $ 1,188,907
The accompanying notes are an integral part of these financial statements.
32
Total
Other Uovenunental
Govenunental Fi~nds
$ 2,413,601 $ 19.627,734
~1~.608 998,221
- 923,~90
141.277 ~41,709
702.081 1.694,993
- 281 Z60
602,~101 602,401
17.11~ 9~.823
1 ~.000 70.4~3
3,9~10,083 24.836,184
40.211 2.383,276
119,120 1.397256
134.82~1 3.972,0~3
49~.609 3.177.878
- 40~.911
46.» 1 302,666
~443,427 4,~96.862
- 2.052,298
300,000 2,2~9.004
344.195 838,32U
1,719.~91 2.510,027
3.643.~28 23,89~,» 1
296.»j 9~10,633
- 2.94~,000
- ( 3.012,910 )
- 6.~61
- 7.098
724,778 2,4~8,396
( 778.730) ( 1.599,~ 17 )
( ~3.9~2) 804.628
242,603 1 J45,261
10.875.655 27,1 ~6.866
( 76~.46~ j -
$ 10,352,793 $ 28,902.127
33
CITY OF COLLEYVILLE, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2011
Amonnts reported for govenunental activities in the Statement of Activities (pages
28 - 29) are different becanse:
Net change in fi~nd balances - total govei7unental fi~nds: $ 1,7~5,261
Go~~enunental fiznds repoi~t capital outlay-s as espenditures. Ho~~ e~ er. in the
statement of activities, the cost of those assets is allocated o~-er their estiinated
usefiil li~ es and reported as depreciation elpense. ( 1,088,260)
The net effect of transactions in~~ol~-ing capital assets is to increase net assets. ( 33,035)
Re~°enues, in the statement of acti~Tities, that do not pro~ ide cnirent financial
resoi~rces, are not repoited as re~~emies in the funds. ( 52,113)
The issi~ance of long-term debt (e.g., bonds, leases) pro~-ides current financial
resonrces to go~, enunental fiuids, "lule the repa~ ment of the principal of long-
tenn debt consuuies the ci~irent financial resources of go~-enunental fi~nds. 2,286,389
Some espenses reported in the statement of acti~~ities do not reqiure the use of
ci~irent financial resources and therefore are uot reported as elpendihues in
go~-ei7unentalfi~nds. ( ~}7,9~9)
Change in net assets of go~-enunental acri~~ities $ 2,810,28 ~
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, 20ll
Variance ~~ ith
Final Bi~dget -
Bi~dbeted Amonnts Actnal Positi~ e
Original Final Amounts (Negative)
REVENUES
Tases $ 1~,528,~~8 $ 1~,528,4=~8 $ 15,171,=~50 $ 6=~3,002
License and pei7nits 588,611 588,611 923,~90 33~,979
Fines and foi~eitures 8979=~9 897,9=~9 9~9,613 51,66~
Charges for sei~-ices 8~1,8~0 8~1,8~0 992,912 151,072
In~-estment eanungs 75,000 75,000 62,332 ( 12,668)
Other 55,~00 55,-~00 55,~53 53
Total revem~es 16,987,248 16,987,2~8 18,155,3~0 1,168,102
EXPENDITURES
Cnrrent:
Gener~il go~-ei7nnent 2,504,287 2,504,287 2,3~3,065 161,222
Commi~iutydevelopmentandengineering 1,233,773 1,373,773 1,278,136 95,637
Fire and resci~e 3,870,839 3,870,839 3,8~7229 33,610
Leisi~re ser~~ices 2,866,969 2,866,969 2,681,251 185J18
Maintenance ~30.67~ ~30.67~ 405,911 2~J6~
Muiucipal comt 261,~87 261,~87 256.115 5,372
Police ~,369,822 ~,369,822 =~,153,~35 216,387
Streets and drainage 2.022,171 2,222,171 1,827,351 39~,820
Capital outla~ - - 6-~,788 ( 6~,788)
Total e~pendih~res 17,560,023 17,900,023 16,847,281 1,052J~2
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES ( 572J75) ( 912J75) 1,308,069 2,220,8~~
OTHER FINANCING SOURCES (USES)
Transfers in 816,297 816297 858,879 ~2,582
Transfers out ( 230,000) ( 530,000) ( 820,787) ( 290,787)
Sale of capital assets 3,000 3,000 7,098 ~,098
Total otherfinancing soiuces and i~ses 589,297 289,297 -~5,190 ( 2~~,107)
NET CHANGE IN FUND BALANCE 16,522 ( 623.~78) 1,3~3,259 1,976,737
FUND BALANCE, BEGINNING 8,813,597 8,813,597 8,813,597 -
FUND BALANCE, ENDING $ 8,830,119 $ 8,190,119 $ 10,166,856 $ 1,976,737
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, 20ll
Enteipri~e Fund~
~~ ater and
Vdnate~~~nter Drainage Utilitc Totnl
~SSETS
CU17enY nSSeY5:
Cash :uid cash eqtiit~alznts $ d,884,211 $ 940,132 $ ~,52~,343
Lieeshnents 3,6~7,780 119,»8 3,777,33b
Accotints rzcziiablz, nzt of allo~~nnces 2,489,1~~ 107,749 2,~96,904
Other 2as~ts 9~,204 27,963 122,167
Licentorizs 127,~6~ - 127,~6~
Totnl current nssets 11,2~2,91~ 1,19~,402 12,448,317
Non-current nssets:
Accrned interest receivnble 1,73~ 83 1,818
Capital asaets:
Land and improvemenk 313A~7 - 313,0~7
Buildin~,~ ~3,922 - ~3,922
Utilitcs~-stem 64,329,1d6 4,LS,364 68,d~7,~10
Equipment nnd fiu7iiture 1,084,242 ~ 11,1 ~2 L~9~,394
Constrliction in pro~~esa 676,335 41,492 718,330
Lessacctumilateddepreciation ( 2C,,122,~13) ( 1,0~10,8~2) ( 27,163,26~)
Totnl non-cuirznt assets 40,33C,,~27 3,6d0,239 ~3,976,766
Total nss~ts ~1,~89,d~2 d,83~,641 ~6,~2~,083
LI~BILITIES
Ctirrznt 1i16ilities:
-~cconnts pn~ able 978,928 L911 980,839
3ccrned liabilitias 39,081 10,637 49,715
~ccrned interzst pn~ nble 23,~187 6,723 30,210
Adenncza from devzlopzrs 73,396 - 73,396
Escro~~ fiinds 26,613 - 26,613
Ctistoiner deposit5 427,77~ - ~27,774
Compena2tzd absences 1~4,390 3,162 1Z~~2
Rzeenuz bonds pa~~nbl~ 7~0,000 20~,000 9~~,000
Totnl cturent linbilitiea 2,333,669 227,~33 2,~61,102
Non-otirrent liabilities:
Compensated absences ~7,~60 12,647 70,207
Rzvemie bonda pa5-ablz 2,790,013 1,337,837 d,127,8~0
Total non-cuirent 1i26ilities 2,8~47,~73 1,3~0,484 ~,198A~7
TOtIIl 11IIb111t1ZS ~.1 ~ 1, 2'~2 1, J ~ ~, ~ 17 6, ~~ 9,1 ~9
NET ASSETti
In~-~estzd in capitnl ~sets, nzt of rzlated debt 36,79~1,779 2,097,319 38,392A9S
Reah~icted for debt aereice 662A~0 - 662A~0
Unreatricted 89~1,371 1,160,40~ 10,111,776
Totnl net nssets $ 46,~08,200 $ 3,2~7,72~} $ ~49,66~,924
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, 2011
Enterprise Funds
Water and
Waste~tiater Drainage Utilin- Total
OPERATING REVENUES
Metered ~1~ater sales $ 10,721,138 $ - $ 1OJ21,138
Waste~~ ater seivice charges 2,802217 - 2,802,217
Drainage sei~ ice charbes - 888,590 888,590
Other charges and sei~~ices 801,716 1~,~99 816,215
Miscellaneous 30,3~7 - 30,3~7
Total operating revemies 1~,355,~18 903,089 15,258,507
OPERATING EXPENSES
Persoiuiel seiti~ices 1,60~,95~ 398205 2,003,159
Maintenance and conhach~al seii ices 8,316,41~ 122,80~ 8,~39218
Materials and supplies 199,310 ~0,0~0 229,350
Depreciation and amoitization 1,830,690 132,132 1962,822
Total operating elpenses ll,951,368 683,181 12,63~,5~9
OPERATING INCOME 2,~0~,050 219,908 2,623,9~8
NON-OPERATING REVENUES (EXPENSES)
Interest and in~ estment revemies 36,=~92 2,182 38,674
Interest elpense and fiscal charges ( 57,819) ( 58,979) ( 116,798)
Total non-operating re~-ennes (e~pei~ses) ( 21,327) ( 56J97) ( 78,12~)
INCOME BEFORE CONTRIBUTIONS
AND TRANSFERS 2,382J23 163,111 2,5-~5,834
Capital contribi~tions 168,365 - 168,365
Transfers oi~t ( 858,879) - ( 8~8,879)
CHANGE IN NET ASSETS 1,692209 163,ll1 1,85~,320
TOTAL NET ASSETS, BEGINNING ~~,715,991 3,094,613 ~7,810,60~
TOTAL NET ASSETS, ENDING $ ~6,~08200 $ 3,2~7,72~ $ ~9,665,92~
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, 2011
Enterprise Funds
Water and Draina~e
Wastew~ter Utiliri Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received ti~om custoiners $ 13,R~7J~0 $ 901J69 $ 14J~9,~ 19
Cashpaid to suppliers for goods and seivices ( 8,307_7») ( 182.311) ( 8,~190.066)
Cash paid to einplo~~ees for services ( 1,614,276) 719,4~8 ( 894,818)
Net cashprovided b~~ operatul« activities 3.93~,719 719.4~8 4,6»,177
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers out ( 8~8.879) - ( 8~8.879)
Net cash used for noncapital
flnancul~ activities ( 8~8,879) - ( ~~~.H79)
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of capital assets ( 348,97R) ( ~8.066) ( ~107.04~1)
Prnicipalpaidondebt ( 979.987) ( 1~2.163) ( 1,132,1~0)
Interest paid on debt ( ~7,819) ( ~8.979) ( 116,7)8)
Net cash used for capital and
related financing activities ( 1.386,784) ( 269,208) ( 1,65~.992j
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase (:sale) of investinents ( 1,076.373 j 172 ( 1,076,201)
EaiYlin~s on investrnents 36,~4)2 2.182 38,674
Net cash providecl (used) by ulvesting activities ( 1.039,881) 2,3~~1 ( 1,037.~27j
NET INCREASE IN CASH
AND CASH EQUIVALENTS 6~0.17~ 4~2.604 1.102.779
CASHANDCASHEQUIVALENTS,BEGINNING ~1.234,036 881J12 5.11~,7~18
CASH AND CASH EQUIVALENTS, ENDING $ 4.88~1.211 $ 1.334,316 $ 6,218,527
(continued)
38
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
(Continuecl)
FOR THE YEAR ENDED SEPTEMBER 30, 2U11
Reconciliation of operatin, income (loss) to net cash
provided (used) b~~ operating activities:
Operatin~ income
Adjustments to reconcile operatin~ income (lossj
to net cash provided b~~ (nsed for) operatnl~ activities:
Depreciation and amortization e~pense
Changes in assets tmd liabilities:
Decrease (ulcrease)in assets:
Accounts receivable
Inventoiti~
Accrued interest receivable
Increase (decrease) ul liabilities:
Accounts pa~~able
Accrned liabilities
Compensated absences pavable
Customer deposits
Escro~~ funds
Accrned interest pa~ able
Net cash provided by operations
Noncash uivestin~, capital, and fulancing activities:
Contributions of capital assets
Enterpri5e Funds
Water and Drauia~e
Waste~~~ater Utilin~ Totals
$ 2,404,0~0 $ 219,908 9; 2,623,9~8
1.787,6~9 10~1.169 L891.R28
( 537.291) ( 1.320) ( ~38,611)
36,327 - 36.327
1~~1 2 1~6
242.306 1 J 19 244.025
( 4.~9~) 1.960 ( 2.635)
( 4,727) 2.061 ( 2,666)
13,010 - 13,010
26,613 - 26,613
( 27,787) ( 3,22~) ( 31,012)
$ 3,93~_719 $ 325.27~1 $ 4,260.993
$ 168,36~ $ - $ 168.365
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 311, 21111
ASSETS
Cash and investinents
Total assets
LIABILITIES
Due to other agencies and u~dividuals
Total liabilities
The accompanying notes are an integral part of these financial statements.
Agenc~- Fund
$ 23,869
$ 23,869
$ 23,869
$ 23,869
40
CITY OF COLLEYVILLE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
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-Mailager forin of government.
The accounting policies of the City of Colleyville, Texas (the "City") conforn7 to generally
accepted accounting principles as applicable to governmental units. The following is a summary
of the more significant of such policies:
A. Reportin~ Entitv
As required by generally accepted accounting principles, these financial statements present
the governinent and its component units, entities for which the goveriunent is considered to
be financially accountable. Blended component uiuts, although legally separate entities are,
in substance, part of the goverm7lent's operations and so data froin these units are combined
with data of the priinary government. Each directly presented component unit, on the other
hand, is reported in a separate column in the con7bii7ed financial statements to emphasize it is
legally separate froin the government. Each blended component unit has a Septen~ber 30
year-end.
Blended Component Unit - The Colleyville Economic Development Corporation (CEDC)
was incorporated on September 3, 1996, as a nonprofit industrial development corporation
under the Developinent Gorporation Act of 1979 ("Act"). The CEDG operates under a seven
(7) inember 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
benefitii7g and accoinplishii7g public purposes of and to act on behalf of, the City, and the
specific purposes for wluch the Corporation is organized. This includes municipal parlc
in7provements, the purchase of land and improvemeilts for additional neighborhood parlcs,
the construction of a coinmunity center and library. Although it is legally separate froin the
City, the CEDC is reported as if it were part of the primary ~overninent, 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 (Gontinued)
Blended Component Uiut - Colleyville Crime Control and Prevention District (the District)
was forn7ed under Chapter 363 of the Texas Local Goveri7ment Code, the Crime Control and
Prevention District Act. The District is organized to act on behalf of the City for financing,
developn~ent of crime control throu~hout 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 forn~ed to malce public improvements, under the authority
of the Tax Increment Financing Act. The TIF is governed by a nine-member board
consisting of five members appointed by the City Council ai7d one member each appointed
by the four other participating taxing entities. The primary government appoints a voting
majority of the unit's governing body and the City has a potential economic benefit from this
uiut. Therefore, the TIF is presented in the accoinpanyii7g 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 governn~ent-wide financial statements (i.e., the statement of net assets and the staten~ent
of activities) report inforinatioi7 on all of the nonfiduciary activities of the primary
government and its coinponent units. For the most part, the effect of interfiind activity has
been removed from these statemei7ts. Uovet~jin~es~tal act~vit~es~, which normally are supported
by taxes and intergoverninental revenue, are reported separately from b~rs~iY~es~s-tvpe
activities, which rely to a significant extent on fees and charges for support. Likewise, the
prin~ary goverr2n~erlt is reported separately from certain legally separate co~rrpos~ies~~t ~rr~~ts for
which the primary government is financially accouiltable.
The statement of activities demonstrates the degree to which the direct expenses of a given
function or segment are offset by prograin revenue. Dit•ect experzs~es~ are those that are clearly
identifiable with a specific function or segment. P~•o~•anr reveyz7re includes 1) charges to
customers or applicants who purchase, use, or directly bei7efit from goods, services, or
privileges provided by a given fi~nction or segment, and 2) grants and contributions that are
restricted to meeting the operational or capital requiren7ents of a particular function or
segment. Taxes and other iten~s not properly included among program revenue are reported
instead as gerze~~a1 ~~evey~zre.
Separate financial stateinents are provided for governmental funds, proprietary funds, and
fiduciary funds, even though the latter are excluded from the govermnent-wide financial
statements. Major individual governmental fi~nds and major individual Enterprise Funds are
reported as separate coluinns in the fi~nd financial statements.
(continued)
42
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Measurement Focus, Basis of Accountin~ and Financial Statement Presentation
The government-wide financial statements are reported using the economic resozirces
meas~ir~eh~ef~t foc~is~ and the accrzrcrl bas~is of crcco~rf~t~f~g, as are the proprietary fund and
fiduciary fund financial staten~ents, except for Agency Funds, which have no measuren~ent
focus. Revenues are recorded when earned and expenses are recorded when a liability is
incurred, regardless of the timing of related cash flows. Property taxes are recogi7ized as
revenue in the year for which they are levied. Grants and similar items are recognized as
revenue as soon as all eligibility requirements in7posed by the provider have been met.
Governmental fi~nd financial staten~ents are reported using the c~r»°ef~t firzar~cial t~es~o7r~°ces
meas~is~•en~eyzt focus and the rr~odi~ed accr~ral bas~is of accountir2g. Revenues are recognized
as soon as they are both ineasurable and available. Revenues are considered to be crvailable
when they are collectible within the current period or soon enough thereafter to pay liabilities
of the current period. For this purpose, the government considers revenue to be available if
collected within 60 days of the end of the current fiscal period. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting. However, debt service
expenditures, as well as expenditures related to coinpei7sated absences and claiins 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 accn~al and so have been recognized as revenue
of the current fiscal period. All other revenue items are considered to be measurable ai7d
available only when cash is received by the City.
GOVERNMENTAL FUNDS
GoveNn~ientccl Fun~l,s are those through which most goveriullental fi~nctions 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
detern~ination 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~al 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
ai7other fi~nd.
The Debt S'e~vice Fun~l - 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 Accountin~ and Financial Statement Presentation
(Continued)
GOVERNMENTAL FUNDS (Continued)
The Ccapiful P~^oiects Fun~l - is used to account for financial resources to be
used for the acquisitioi7 or constructioi7 of gei7eral major capital facilities.
Financing is provided primarily by the sale of general obligation bonds and
developer contributions.
Additionally, the City also reports the following fi~nd type:
The Speci~ll Revenue Fun~l - accounts for the reveilues and expenditures
associated with a special project or purpose.
PROPRIETARY FUNDS'
Pr~opNietcc~y Funcls are used to account for activities that are similar to those often foui7d
in the private sector. The measurement focus is upon determination of net income and
capital maintenai7ce.
The City reports the following inajor proprietary funds:
The Wute~ un~l WasteivateN Fun~l - is used to accouilt for operations (a) that
are financed and operated in a mam~er 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 ~eneral public on a
continuing basis be financed or recovered primarily through user charges; or
(b) where the governing body has decided that periodic determination of
revenue earned, expenses incurred, and/or net income is appropriate for
capital inaintenance, public policy, inanagement control, accountability, or
other purposes. This fiind is used to account for water and wastewater
operations.
The DNCiincc~e Utilitv Fun~l - is used to account for the establishment and
n7aintenance of drainage facilities witlun the municipal boundaries of the City.
All activities necessary to provide such facilities are accounted for in this
fund, included but not lin~ited tq administration, operations, maintenance,
billing and collections.
(continued)
44
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Measurement Focus, Basis of Accountin~ and Financial Statement Presentation
(Contii7ued)
FID UCIARY FUNDS
A~encv Fund - Fi~lucia~y Fund.s are used to account for assets held by the
City in a tn~stee capacity or as an agent on behalf of others. Agency fi~nds are
custodial in nature and do not present results of operations or have a
measuremei7t focus. The City has two agei7cy fi~nds: Employee Activity and
the Sesquicentennial Fund. These funds are held for the benefit of City
employees and to benefit the City's lustorical purposes.
Private-sector standards of accounting and financial reporting issued prior to December 1,
1989, generally are followed in both the governn~ent-wide and proprietary fund financial
statements to the extent that those standards do not coiiflict with or contradict guidance of the
Governmental Accounting Standards Board. Govermnents also have the o~tioji of following
subsequent private-sector guidance for their business-type activities and Enterprise Funds,
subject to this same limitation. The City has elected not to follow subsequent private-sector
guidance.
As a general n~le, the effect of interfund activity has been eliminated from the governn~ent-
wide financial stateinei7ts. 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
fiulctions concerned.
Amounts reported as pt•og~°an> >eveyl~res~ include: 1) char~es to customers or applicants for
goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital
grants aild contributioils, including special assessmeilts. Internally dedicated resources are
reported as gej~eral revenzies rather than as program revenue. Lilcewise, general revenue
includes all taxes.
Proprietary fi~nds distinguish operating revenues and expenses from nonoperating iteins.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in coi7nection 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. Operatii7g expenses for Enterprise Funds include the cost of sales and services,
adn~inistrative expenses, and depreciation on capital assets. All revenue and expenses not
ineeting this definition are reported as nonoperating revenue and expenses.
D. Cash and Cash Equivalents
For purposes of the stateinent 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
a~~d to report nonpai~ticipating interest-eaining inveshllent contracts using a cost-based measure.
However, if the fair value of an u~vestment is significantly affected by the impairment of the
credit sta~~ding of the issuer or by other factors, it is repoi~ted at fair value. All other investinents
are reported at fair valL~e L~nless a legal contract exists which guarantees a higher value. The term
"shoi~t-term" refers to investments, which have a remainu~g tenn of one yea~ or less at time of
purchase. The term "nonparticipating" mea~~s that the investment's value does not va~y with
market interest rate changes.
F. Receivables and Pavables
Activity between fi~nds that are representative of lending/borrowing arrangements outstanding at
the end of the fiscal year are referred to as either "dne to/from other funds" (i.e., the cL~rrent
portion of interfi~nd loa~~s) or "adva~~ces to/from other fi~nds" (i.e., the noncurrent poi~tion of
interfund loa~ls). All other outstanding bala~ices between funds are reported as "due to/from
other fiu~ds." Any residual bala~~ces oL~tstanding between the govei77mental activities and
business-type activities are reported in the governinent-wide fu7ancial staten~ents as"internal
bala~~ces."
Advances between fiu~ds, as reported in the finld financial stateinents, are offset by a fiu~d
bala~~ce reserve account in applicable governmental funds to indicate that they are not available
for appropriation a~1d are not expendable available financial resources.
All t~ade a~1d property tax receivables a~e shown net of a~l allowa~lce for uncollectibles. Trade
accoui~ts receivable in excess of 30 days con~prise the trade accounts receivable allowa~7ce for
uncollectibles. The properry tax receivable allowa~lce is equal to one percent of oL~tsta~lding
property taxes at September 30, 2011.
Property taxes are levied on October 1 and attach as an enforceable lien on properry as of Ja~~uary
1. Statements are mailed on October 1, or as soon thereafter as possible, and a~e dL~e upon
receipt. All L~npaid taxes become delinquent if not paid before February 1 of the following year.
G. Inventories
Inventories in the Enterprise Fi~nd are valued at cost (first-in, first-out method).
H. Caqital Assets
Capital assets, which include properry, plant, equipment and infrastructure assets (e.g. roads,
bridges, sidewall~s and similar items) are reported in the applicable governmental or bnsiness-
type activities colL~nu~s in the govei7~ment-wide financial statements. The City defines capital
assets as assets with a~i initial, individual cost of more than $5,000 (amount not rounded) and a~~
estimated usefiil life in excess of one year. SL~ch assets are recorded at historical cost or
estimated historical cost if pL~rchased or constnicted. Donated capital assets are recorded at
estimated fair market vall~e at the date of donation.
(continued)
46
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
H. Capital Assets (Continued)
The costs of normal maintena~lce a~ld repairs that do not add to the valne of the asset or
materially e~tend assets' lives are not capitalized.
Major outlays for capital assets a~7d improvements are capitalized as projects are constructed.
Properry, plant a~ld equipment is depreciated using the straight-line method over tlie following
estimated L~sefi~l lives:
Assets
Years
Buildings 1~ - ~0
Improvements 20 - 50
Equipmeirt ~ - 10
Infrastructure (streets and drainage) 50
Water distribution/se~ver collection 5 - ~0
L Other Assets - Enterprise Fund
Ofl~er assets consist of expenses incL~rred in connection wifli the issua~~ce of certain outsta~lding
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 a~~d sick pay in varying amotu~ts. li~ the event of terinination,
a~~ employee is paid for all accumulated, tu~used vacation. Vacation pay is accrued as it vests to the
employee. Sick pay is recorded when paid or upon retirement when a maYimum of 90 days is paid.
The accrued siclc pay is not recorded, as the City's policy is not to compensate employees upon
sepa~ation of seivices with the City, except for retirement, and such an~ounts are not considered
inaterial. All vacation pay is accrued when ulctured in the govemment-wide a~ld proprieta~y fiuld
fu~a~icial statements.
K. Lon~-term Obli~ations
L1 the govei7unent-wide financial statements and proprietaly fund types ul the fiuid financial
statements, long-tenn debt a~~d other lon~-term obligations a~e reported as liabilities in the
applicable governmental activities, business-type activities, or proprieta~y fi~nd type statement of
net assets.
li7 the fund fina~~cial statements, the face amount of debt issued is reported as other fina~icing
sources for the govemmental fiu~d types.
For governmental fiu~d types, bond prenuums a~~d discotults, as well as issna~lce costs, are
recognized during fl~e current period. Bond proceeds are reported as an other financing source.
IssL~ance costs, even if witl~l7eld from the acfial net proceeds received, a~e reported as expenditures.
For proprieta~y fiu~d types, bond premiums a~~d discounts, as well as issua~~ce costs, are charged to
current operations rather tha~~ being deferred and anlortized dne to the relatively inui~aterial effect
on the basic fina~~cia1 statements talcen as a whole.
(continued)
47
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
L. Fund Balance Classification
The governmental fi~nd financial statements present fi~nd bala~~ces based on classifications that
comprise a hierarclry that is based primarily on the e~tent to which the City is bound to honor
constraints on the specific purposes for which amounts in the respective govenuilental fwlds can
be spent. The classifications used in the governmental fi~nd fu~a~lcial statements a~e as follows:
Nonspendable: This classification includes a~7~ounts that ca~ulot be spent because they
a~e either (a) not in spendable forni or (b) are legally or contractually required to be
maintained intact. Nonspendable items are not expected to be converted to cash or are
not expected to be converted to cash within the ne~t year.
Restricted: Tlus classification u~cludes a~nounts for which constraults have been placed
on the L~se of the resources either (a) e~ternally imposed by creditors, gra~~tors,
contributors, or laws or regulations of other governments, or (b) imposed by law through
constitutional provisions or enablu~g legislation.
• Conu7utted: This classification includes amounts that ca~~ be L~sed only for specific
purposes pursua~~t to constraints iinposed by board resolution of the City Council, the
City's highest level of decision mal~ing authority. These amounts cannot be used for airy
other purpose L~nless the Council removes or changes the specified L~se by taking the same
type of action that was employed when the fi~nds were initially comn~itted. This
classification also includes contractual obligations to the e~ent that existing resources
have been specifically comnutted for L~se ul satisfying those contractual reqL~irements.
• Assigned: This classification u~cludes amounts that are constrauied by the City's intent
to be used for a specific purpose bL~t are neither restricted nor comnutted. This ultent ca~~
be expressed by flie City's Assista~~t City Ma~~ager/Chief Fina~icial Officer.
Unassigned: This classification includes the residl~al fund bala~7ce for the General Fund.
The L~nassigned classification also includes negative residual fi~nd balatice of airy other
governmental fi~nd that ca~u~ot be eliminated by offsetting of assigned fi~nd balance
a~nounts.
When an expenditL~re is incL~rred for purposes for which both restricted and unrestricted fi~nd
balance is available, the City considers restricted funds to have been spent first. When an
expenditure is incurred for which comnutted, assigned, or unassigned fiu~d balances are
a~ailable, the City considers amounts to ha~e been spent first oi~t of committed fiu~ds, then
assigned fwlds, and fu~ally unassigned funds.
M. Minimum Unassigned Fund Balance
It is the goal of the City to achieve a~ld maintain an unassigned fund bala~~ce u1 the General FL~nd
equal to three months of that year's budgeted expenditures for both the General and Utility
Funds. The City Council may declare a fiscal emergency and withdraw any amount of the
unassigned General and Utility Funds' balances for purposes of addressing the fiscal emergency.
Airy such action inL~st also provide for necessary appropriations to restore the designated fiu~d
bala~~ce to the balance within a three-year period.
(continued)
48
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
N. Net Assets
Net assets represent the difference between assets a~7d liabilities. Net assets uivested ui capital
assets, net of related debt, consist of capital assets, net of accumulated depreciation, redl~ced by
fl~e outsta~lding bala~lces of a~~y borrowing used for the acqi~isition, construction or in7provements
of those assets, and adding back unspent proceeds. Net assets are reported as rest~icted when
there are limitations imposed on their L~se either throL~gh the enabling legislations adopted by the
City or throL~gh e~ternal restrictions imposed by creditors, grantors or laws or regulations of other
governments.
O. Estimates
The preparation of financial statements, in coiiformity with generally accepted accounting
principles, requires inanageinent to inalce estimates and assuinptions that affect the reported
amounts of assets and liabilities and disclosures of contingent liabilities at the date of the
financial stateinents and the reported amounts of revenue and expenses durii7g the reporting
period. Actual ainounts could differ fron~ those estiinates.
P. Risk Management
Insurance coverage for property, liability and worlcers' compensation is provided by the
Texas Municipal League liitergovernmental Risk Pool, a state insurance pool. Contributions
to the Rislc Pool for worlcers' coinpensation are based on the City's past claims lustory. The
Risk Pool is self-sustaining through members' contributions and inaintains insurance to limit
rislc of loss with an external insurance company. Settlement claims have not exceeded
aggregate limits in the past three fiscal years.
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 recoi7ciliation between f'2rNd balaNCe - total
goverrlrnerrtul fis~rds~ and j~et crs~s~ets~ - gover~~me~rtcrl activ~ties~ as reported in the governn7ent-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 fiulds." The
details of this $(21,329,155) difference are as follows:
Bonds pa~~able $( 20,376,~}91)
Less: deferred costs on issu~nce costs 222,33~
Capit111eases pa~ able ( 972,170)
Accrued interest pa~Table ( 131,976)
Compensated absences ( 70,853)
Net adjushnent to reduce fa~nd Ucrlnf~ce - totnl
govermrrental funcls to arrii e at net assets -
govefnmentcrl crctivities $( 21,329,155)
(continued)
49
2. RECONCII;IATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
(Contii7ued)
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 goveriu7lental fi~nd statement of revenue, expenditures and changes in fund balances includes
a reconciliation betweei7 ~ret changes~ in firj7d bularrces~ - total gover~rmerltcrl f'~snd and chcrrrges~ in
f~et as~s~ets~ of govet°~~~ries~tal 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 $(1,088,260)
difference are as follows:
Capital outla~- $ 2,510,027
Depreciation espense ( 3,598,287)
Net acljustment to increlse net changes in fi~nc~' bcrlc+nces -
totcrl govet•iamerrtcd fa~nds to arri~-e at ehc~rrges irr ~ret
crssets ofgovernmental cretivities $( 1,088,260)
Ai7other elemeilt of that reconciliation states, "Revenues ii7 the statement of activities that do not
provide current fiilancial resources are ilot reported as revenues in the funds." The details of this
$(52,113) difference are as follows:
Propei~- tases $( 44,190)
Ambulance re~-enue ( 8,327)
Adjudicated fines 40~}
Net adjustment to increlse net chc+nges in fitnc~ bcrlcr~rces -
totcrl gove~nrnentc~l fi~~rds to a~ri~-e at eha~rges r~r ~ret
assets ofgovet°nmental activities $( ~2,113)
Another element of that recoi7ciliation states, "The issuance of long-term debt (e.g., boi7ds,
leases) provides current financial resources to governmental funds, wlule the repayment of the
principal of long-term debt consumes the current financial resources of governmental funds."
Neither transaction, however, has any effect on net assets. The details of this $2,286,389
difference are as follows:
Principal pa~~nents and refundings $( 2,951,561)
Issuance of debt 5,237,9~0
Net ldjushnent to reduce firvrc~ bc~lance -total
governmentnl fi~fvcls to ani~ e at iaet czssets -
goveinmental aclivities $ 2,286,389
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 fi~nds." The details of this $(47,959) difference are as follows:
Compensated absences $( 70,853)
Acci~ued interest 22,~9~
Net adjushnent to decrelse net chcrnges in firvrcl b~lnnces -
totc~l ,governrnental fi~ncls to a~7ii e at changes in net
assets ofgovefnme~rtal crctivities $( 47,9~9)
50
3. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Bud~etarv Information
The City Council follows these procedures in establishing budgetary data reflected in the
basic finai7cial statements:
(1) Prior to September 1, the City Manager submits to the City Cotmcil a
proposed operating budget for the fiscal year commencing the following
October l. 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) Forinal budgetary integration is einployed as a inanagement control device
during the year for the General, Debt Service, and Enterprise Funds.
Budgetary control is maintained at the fund level.
Interi7al 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 fi~i7ds for the year ended Septeinber 30, 201 l.
(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 beei7
presented since the reporting on such budgets is not legally required.
Expenditures Over Appropriations
General Fund expenditures capital outlay exceeded appropriations by $64,788. Tlus
overage was funded by under spending in other fi~nctions.
51
4. DETAILED NOTES ON ALL FUNDS
Deposits and Investments
As of September 30, 201 l, the City had the following investments:
Fair Weighted Average
Investrnent Tti~pe Value Maturit~~ (Da~~sj
LOUIC $ 2~,713,124 46
U. S. Treasuries and Agencies 20.379.181 29G
Total fair ealue $ 44.092,30~
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 tlungs, it requires the City to adopt, implement, and publicize an
iilvestment policy. That policy must address the following areas: (1) safety of principal and
liquidity, (2) portfolio diversification, (3) allowable investments, (4) acceptable risk levels, (5)
expected rates of return, (6) maxiinuin allowable stated maturity of portfolio invest~nents, (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 atrthorize 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 agreemei7ts, (6) banlcers
acceptances, (7) Mutual Funds, (8) investn~ent pools, (9) guaranteed investment contracts, and
(10) coinn~on tn~st funds. The Act also requires the City to have independent auditors perform
test procedures related to ii7vestinei7t practices as provided by the Act. The City is in substantial
compliance with the requirements of the Act and with local policies.
The City's investment pools are 2a7-like pools. A 2a7-like pool is one which is not registered
with the Securities and Exchange Commission ("SEC") as an investment con~pany, 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 Rate Risk. In accordance with its investment policy, the government manages its
exposure to declines in fair n~arket values by limiting the average dollar weighted maturity of its
investment portfolios to a maximum of 180 days.
(continued)
52
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Deposits and Investments (Continued)
Custo~liul Cre~lit 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, 2011, $166,777 of the City's
$416,777 deposit balance was collateralized with securities held by the pledging financial
institution. The remaining balance, $250,000, was covered by FDIC insurance.
CNedit Risk. It is the City's policy to limit its invest~nents to investment types with an
investment quality rating not less than A or its equivalent by a nationally recogi7ized statistical
rating organization. The City's investment pools are rated as follows by Standard & Poor's
Investors Service.
LOGIC
U. S. Treasuries aud Agencies
Receivables
AAAin
AA+
Receivables as of year-end for the goveriunent's individual major fiinds, noninajor funds and
enterprise funds in the aggregate, including the applicable allowances for uncollectible accounts,
are as follows:
Go~~ernmental Fnndy Enterprise Fnnds
Capital Debt Nomm~jor Vdnter nnd Drainnge
G~nzral Projzct5 Ser~~ic~ Funds W2ste~n~at~r Utilit~ Totnl
KeCel~'ables;
~ccounts $ 477,4~4 $ - $ - $ - $ 2,~30,106 $ 107,749 $ 3,11~,309
Taies 230,395 - 49,962 - - - 250,360
DD0 tl'Olll OY1101'
go~~zrnments ~08,719 - 374 ~26,824 - - 1,03~,917
~ccmed intzrest 9,33~ 2,011 - 2,~10 - - 13,7~C,
Cn~osareceicnbles 1,22~,906 2,011 ~0,336 ~29,234 2,~30,106 107,749 4,44~,342
L,ess: 111o~a~nncz for
tincollectibles ( 407,433) - - - ( ~09~1) - ( 44b,38~)
Nettotalrecei~nbles $ 818,473 $ 2,011 $ ~0,336 $ ~29,234 $ 2,489,1~~ $ 107,749 $ 3,996,9~8
(continued)
53
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Receivables (Continued)
Governmental funds report def'er~ed revemre in coiulection with receivables for revenue that is
not coi7sidered 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 ~eveyl~re and
1a~~ea~j~~e~'~everzzre reported in the govermnei7tal fi~nds were as follows:
Ui~~~ ailable Unearned
General fiuid
Delinqi~ent propei~ taies receivable $ 2~0,398 $ -
Ambi~lance cl~ar~es for sei~-ices 33,568 -
Muiucipal conrt fines 15,083 -
Other - l OJ~8
Total general fiuid 279,0-~9 lOJ~8
Debt sei~ ice fiuid
Delinqnent propei~~ tases recei~ able ~9,962 -
Total debt seitiice fi~nd ~9,962 -
Total go~-ei7unental fiuids $ 329,011 $ lOJ~8
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 l. The assessed value, net of exeinptions, upon which the fiscal 2011 levy was
based, was $3,756,177,552.
Property taxes are limited by the Texas constitution to $2.50 per $100 of assessed valuation ai7d
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 construction, unless atrthorized
by the voters of the City at a special election. The combined tax rate to finance ~eneral
goverm7lental service and debt service for the year ended Septeinber 30, 2011, was $.3559 per
$100 of assessed valuatioil.
Taxes are due by January 31 following the levy date. Tax collections, including related penalties
and interest, was $13,185,502 for the year ended September 30, 20ll. Property taxes receivable
at September 30, 2011, were $280,360.
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 prolubited froin 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, 201 l, was as follows:
Primary Government
Beginning Ending
Bal~uice I~icrelses I~creases Balance
Go~•errunental ~cti~•ities:
Capital assets, not being depreci2ted:
L,and $ 9.293,(54 $ - $ - $ 9,293,654
ConstrncCion in prog~ess 1,315,375 - ( 36,930) 1,178,455
Tot212ssets not beine depreciated 10,509,039 - ( 36,920) 10,~72,109
Capital assets, beine depreci2ted:
Buildingsandimproveinents ~3,607,7~5 1,375,648 ( 103,079) 4~,880,314
1~-l2chineiti~andeqnipment 9,180,666 231.=160 ( 21,76~) 9,390,361
I~ifr2structure 76,031,518 928,366 - 76,959,884
Total capit~21 2ssets beina depreciated L8.819,929 2,535,~37~ ( L4,844) 131,230,559
Less accunmlated depreci2tion:
Buildings 2nd improvements ( 10?40,919) ( 1.413,198) 31,517 ( 11,571.600)
~I2chinei-~ andequipment ( 6,00C,453) ( 6d6,291) 21,765 ( 6,630,979)
Lnprovements other th2n bt~ildings ( 18.086,915) ( 1,539,798) - ( 19,626,713)
Tot212ccumul2ted depreciation ( 3d,33~3,287) ( 3,598,287) 103,282 ( 37,829,292)
Total capit~21 2ssets being depreciated, net 94.485,642 ( 1,062,813) ( 31,562) 93,401,267
Uovernment~21 2ctivitias c2pit21
assets, net $ lOd,99~1,671 $( 1,062,813) $( 58,~82) $ 103,873.376
(continued)
55
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Capital Assets (Continued)
Beginning Ending
B~l~nce I~icreasas Decre~2ses B212nce
Bus'viess-t~~pe acti~ities:
Capital assets, not beina dzpreciated
Land $ 313,057 $ - $ - $ 313,0~7
Construction in pro~ress d79,280 296,959 ( 57,909) 718,330
Total assats not being depreciated 792.337 296,959 ( 57,909) 1,031,387
Capital assets, beina depreci2ted:
Buildings 2nd improvements ~3,922 - - 53,922
n~I2chinerc and equipment 1,587,562 7.832 - 1,595,39d
I~nprove~ne~its other th2n bnildings 68,134,647 322,8C,d - 68,=157,511
Total capit~ll assets being deprecilted 69,776,131 330,69( - 70,106,827
Less accumnlated de~n~eci2tion:
Buildings 2nd improvements ( d7,08d) ( 632) - ( d7,70(i)
~I2chinei-~ and eqnipment ( 2,297,011) ( 118,851) - ( 2,415,862)
Lnprovements other than buildings ( 22,929.330) ( 1,770,368) - ( 2=1,699,698)
Tot~212ccmmil2ted depreciation ( 25,273,425) ( 1,889.841) - ( 27,163,266)
Tot~11 capital assets being depreci2ted, net 4d.502J06 ( 1,559,145) - 42,9d3,561
Business-t~-pe activities capit~il lssets, net $ ~5,295,043 $( 1,262,186) $( 57,909) $ 43,97~,948
Component unit:
C.ll)lYIIl IISyZ~S, 110Y hZlll~ C~Zl)1'eC1IIYZ(1:
Conshlictioninprogress $ 4,183,699 $ 270,111 $ - $ 4,4~3,810
Totnl nasata not being depreciated 4.183,699 270,111 - 4,4~3,810
Capitnl nsszts, bein~ deprecinted:
Lnprovements othzr thnn buildin~s $ 1,800,940 $ - $ - $ 1,800940
Tot21 capitnl nsseta bzing deprecinted 1,80Q940 - - 1,800,940
~5S IICCllll1UlIIY0C~ C~Oj)P0C1IIYlOll:
I~nprocementa other thnn bnildings $( 72,035) $( 36,019) $ - $( lOS,0~7)
Tot111cctimtilntzd dzpreciation ( 72,038) ( 3C,,019) - ( 108,0~7)
Totnl capital nssets bzin~ deprecinted, n~t 1,728,902 ( 3C,019) - 1,692,883
Coinponent unit capital asseta, net $ ~.912,601 $ 234,092 $ - $ 6,146,693
(continued)
56
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Capital Assets (Continued)
Depreciation expense was charged to fi~nctions/programs of the primary goveriu7lent as follows:
Uovernmental aetivities
Cieneral Qovernment $ 296.708
Fire and reseue 434.0~4
Leisure services 1.001.770
Maintenance ~,029
Police 263,3~4
Streets and drainase L~97,342
Total depreciation elpense -;overnmental activities $ 3.~98,287
Busines~-t~ pe activitie,:
Water and ~nastz~~~ater $ 1J61,222
DrainaQe utilit~° 12~.619
Tot~l depreciation elpense - business-t~~pe acti~-°ities $ L889.8~11
Construction Commitments
The government has active constn~ction projects as of September 30, 20ll. The major projects
are listed as follows:
Remaining
Pro j ect Spent-to-date Coirunitlnent
Cotton Belt Trail Phase II $ 670,4» $ 119.924
Total $ 670.4» $ 119.924
Interfund Receivables, Pavables and Transfers
liiterfund receivables and payables at September 30, 201 l, consisted of the following:
Receivable Fund Pa~~able Fund Amonnt
General Nomnajorgo~ei7unental $ 1~6,~81
Total $ 1~6,~81
Balances resulted from the time lag between the dates that 1) interfund goods and services are
provided on reimbursable expenditures occur, 2) transactions are recorded in the accounting
system, and 3) payments between funds are made.
(continued)
57
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Interfund Receivables, Pavables and Transfers (Continued)
The composition of interfund balances as of September 30, 2011, is as follows:
Interfund Transfers
Transfer In
Nonmaj or
Capital Debt Uoverninent
Creneral Projeets Servicz Funds Total
Tr~nsfer Out:
General $ - $ 370.787 $ - $ d~0.000 $ 820J87
Nonmajor Qo~~ernmental - - ~03~9~2 274~778 778J30
Water and ~~~astewater 8~8.879 - - - 8~8.879
Total Transfers Out $ 858,R79 $ 370J87 $~03,9~2 $ 72d,773 $ 2.d~8.396
The transfer of $858,879 from the Utility Fund to the General Fund represents the 2011
Administrative trailsfer and the frailchise fee based on gross water and wastewater revenue of the
prior year's audited financial statements. The transfer of $370,787 from the General Fund to the
Capital Projects and nonmajor governmental funds represents transfers for capital replacement.
The transfer of $503,952 from the Crime District to the Debt Service Fund is for the repayinent
of debt. All principal and interest is paid from the Debt Service Fund's bank account.
Long-term Liabilities
General Obligation Bonds
The goveriulient issues general obligatioi7 bonds to provide fui7ds for the acquisition and
constn~ction of major capital facilities. General obligation bonds have been issued for
governinental activities. The original amount of ~eneral obligation bonds issued in prior years
was $34,030,000.
General obligation bonds are direct obligations and pledge the fi~ll faith and credit of the
government. These bonds generally are issued as 20-year serial bonds with equal amounts of
principal inaturing each year. General obligation bonds currently outstanding are as follows:
Purpose
Uo~-ernmental acti~~ities
Interest Rates
~.6~% - ~.?%
$ 19,781278
$ 19.781.278
(continued)
58
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Long-term Liabilities (Continued)
General Obligation Bonds (Continued)
Long-term liability activity for the year ended Septeinber 30, 2011, was a follows:
BIIlIIllCO BII1QllC0 ~;1110UllYS
September 30, Septembzr 30, Ihie ~`ithin
2010 ~dditiona Retirzments Refimde~d 2011 One I-ear
Uocei~imental acti~ities
General obli~ation bonds and
certiflcatesofobligation $ 13,300,000 $ 2,94~,000 $ 1.780,000 $ 2,9~~,000 $ 1L~10,000 $ L~3~,000
Premium on bond5 - 6,~61 6~6 - ~,90~ -
Defe~rred loas on refiindin~ - ( ~7,910) ( ~,791) - ( ~2,119) -
Snles taire~~enue bonda 8,~72.824 - 30L~~6 - 8,271,275 31~,000
C2pital l~ase obligntions 1,1~1,173 - 179,003 - 972,170 1~7,~83
Compznsated absenczs 6~L427 ~60,34~ 489,491 - 712,280 142,~~6
Totnl~o~zi7imentslnctivities 23,66~,424 3,4~3,99~ 2,74~,90~ 39~~,000 21,419,~1d 3,1~0,039
Business-t~ne acti«ties
Re~-emxe bond5 and certitlcntzs
ofobligation 6,21~,000 d,670,000 92~,000 4,310,000 ~,1~0,000 9~~.000
Preinium on bonda - 99,7~6 - - 99,7~6 -
Losa on refiinding - ( 166,906) - - ( 166,906) -
Coinpznsatzdabsenczs 90,42~ 149,61b 1~2,284 - b7,7~9 17,»2
Total bu5ine5s-t}Tpe ncti~•ities 6,30~,~2~ ~,7~2,468 1,077,28~ 4,810,000 ~,170,609 972,»2
Totalpriinnr~~govei7miznt $ 29,970,8~19 $ 8,206,463 $ 3,822,189 $ 7,76~,000 $ 26,~90,123 $ 3,122,~91
Comnonent unit
T.~~ increment tlnmicing fiind
rzeemie bonds $ ~,8~0,000 $ ~,2»,000 $ ~70,000 $ ~,340,000 $ ~,29~,000 $ ~30,000
~Oll(1 j)1'01111D1R - 16~,gO'~ - - 16~,gO~ -
Loss on refiinding - ( 41,792) - - ( 41.792) -
Totnl componznt unit $ ~,8~0,000 $ ~,381,012 $ 470,000 $ ~,3~0,000 $ ~,421,012 $ ~30,000
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-terin liabilities at Septeinber 30, 201 l, consisted of the following:
General obligation bonds and certificates of obligation serviced by property tax revenue:
$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, 2012; interest at 4.20% to
4.70%. $ 115,000
$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%. 4,025,000
$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%. 4,425,000
~2,945,000 Series 2011 General Obligation Refunding Bonds due in
annual installments of $135,000 to $800,000 through February 15, 2020;
interest at 2.00% to 4.00%. 2,945,000
Total General Obligation Bonds and Certificates of Obligation $ 11,510,000
$9,~70,000 Series 2005 Colle~°~~ille Econonuc De~°elopment Coiporation
Refi~nding and Impro~ ement Sales Ta~ Re~-emie Bonds di~e in aiun~al
ii~stallments of $20,000 to $635,000 tluough Febrnary 15, 2029; interest
at ~.10% $ 82~5,000
Unamortized gain on refi~nding 26,278
Total Revenue Bonds $ 8,271,278
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, 201 l, was $13,399,035.
Business-type activities long-term liabilities at September 30, 2011, consisted of the following:
Water and Waate« ater Fund:
$2.~8U,000 Series 2002 Waten~~orlcs and Waste~ti~ater Svstem Revenue
Bonds due in annual installments of $130,OQ0 to $2»,000 through
Januaiti~ 1, 2012: interest at 2.00% - 4.00%. $ 24~,000
$1,710.000 Series 2004 Watei-~~orks and Waste~~°ater Svstem Refunding
Bonds due in annual installments of $1 ~0.000 to $19~,000 through
,Tanuan 1, 2014: interest at 3.7~%. ~65,000
$3.120,OQ0 Series 2Q10 Waten~~orlcs and Waste~~~ater S~~stein Refi~nding
Bonds due in annual installments of $1»,000 to $~80.OOQ through
Januai-~, 1. 2018: interest at 2.0~% - 3.00%. 2,790.000
Total Water and Waste~~~ater Fund $ 3.60U.U00
Drainage Utilin- Fund:
$L~SO,OQO Series 2011 Waten~~orlcs and Waste~~~ater S~~stein Refi~nding
Bonds due in annual installments of $10~,000 to $22~.000 through
Febnian 1~. 2021: interest at 3.47%. j ~~~ ~~~
Total Drainage Utilit~~ Fund $ 1,»0,000
Total Business-n~pe acti~~ities $ ~.1 ~0.000
The ordinances authorizing the issuance of Waterworlcs and Wastewater System Revenue Bonds
created the Interest and Sinldng FLU1d and Reserve FLU1d. 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 amlual principal and interest requirements
of the bonds and amounts required to inaintain the Reserve Fund. At September 30, 201 l, the
City was in compliance with these requiren~ents.
(continued)
61
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Lon~-term Liabilities (Continued)
The City's component unit, the Tax liicrement Financing District, long-term liabilities at
September 30, 201 l, consisted of the following:
Tal Increinent Financing District
$68~,U00 Series 20U2 Tal and Tal Increment Reeenue Certificates of
Obligation due in installments of $2~,000 to $40.000 beginning in 2004
tluough Febn~an~ 1~. 2U12: interest at 4.00% to S.QO%.
$~.2».000 Series 2011 Refunding Bonds due in installments of
$490,OU0 to $66~,Q00 beginning in 2U12 tln-ough Februaiti- 15. 2020:
interest at 2.0% to 4.0%.
Total Ta~ Increment Financing District
Governmental Activities
$ 40.000
~,2»,UQO
$ ~29~,000
General
OvIlbltlOll BO11C~S Z11C~
Cei~tificates of Obligation Re~ emz e Bonds
September 30, Principal Iuterest Principal Interest
2012 $ 1,535,000 $ 377,851 $ 315,000 $ 331,588
201 ~ 1, ~00,000 ~ ~8,1 i~ ~30,000 ~ 18,365
201~ 1,015,000 305,9~8 3~0,000 30~,630
201~ 7~0,000 278,38~ 3~5,000 290,383
2016 770,000 251,258 37~,000 275,~18
2017-2021 3,190,000 8~9,~95 2,105,000 1,129,858
2022-2026 2,~05,000 361,100 2,~90,000 650,0~5
2027-2030 5»,000 11,100 1,835,000 11~,698
$ 11,510,000 $ 2,773270
$ 8,245,000 $ 3,~1~,99~
Business-type Activities
September 30,
2012
2013
2014
201~
2016
2017-2021
2022-202~
Re~-°enue Bonds
Principal Interest
$ 9~5,000 $ 133240
97~,OU0 10~,8~2
99~.000 79JQ4
68~,U00 ~7.947
4~0.000 42.446
1.09U,000 64.53~
$ ~.1~0.000 $ 483.7?4
(continued)
62
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Lon~-term Liabilities (Continued)
Discretely Presented Component Unit -
Tax Increment Financing Fund
Revenue Bonds
September 30. Principal Interest
2012 $ ~30,000 $ 247.718
?U13 ~40,000 224,980
2014 >j~.000 200.942
201> >65,000 17~2~6
2016 58~,OU0 97,42~
2U 17-2020 ~,~20,000 19;.77~
$ ~295,QU0 ~ 1,140.096
Advance Refundin~s
The goveriunent issued $2,945,000 of general obligation refundii7g bonds to provide resources to
purchase U. S. Government State and Local Govenlment Series securities that were placed in an
irrevocable tn~st for the purpose of ~enerating resources for all fi~ture debt service payments of
$2,945,000 of general obligation bonds. As a result, the refi~nded bonds are considered to be
defeased and the liability has been reinoved from the governmental activities column of the
statement of net assets. The reacquisition price exceeded the net carrying ainount of the old debt
by $57,910. This amount is being netted against the new debt and amortized over the remaining
life of the refiu7ded debt, which is shorter than the life of the new debt issued. This advance
refunding was undertalcen to reduce total debt service payments over the next 10 years by
$177,038 and resulted in an ecoi7omic gain of $106,736.
The government issued $3,120,000 of revenue refiinding bonds to provide resources to purchase
U. S. Goveriunent State and Local Goveriunent Series securities that were placed in an
irrevocable tn~st for the purpose of ~enerating resources for all fi~ture debt service payments of
$3,300,000 of revenue bonds. As a result, the refunded bonds are considered to be defeased and
the liability has been removed from the goven7mental activities column of the statement of net
assets. The reacquisition price exceeded the net carrying an7ount of the old debt by $159,743.
This amount is being netted against the new debt and amortized over the remaining life of the
refi~nded debt, which is shorter than the life of the debt issued. This advance refi~nding was
undertaken to reduce total debt service payments over the next 8 years by $548,188 and resulted
ii1 an econonuc gain of $242,643.
(continued)
63
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Advance Refundin~s (Continued)
Component Unit
The goveriunent issued $5,255,000 of combination tax and revenue refunding bonds to provide
resources to purchase U. S. Government State and Local Government Series securities that were
placed in an irrevocable tnist for the purpose of gei7erating resources for all future debt service
payments of $5,340,000 of revenue bonds. As a result, the refunded bonds are considered to be
defeased and the liability has been reinoved from the goveriunental activities column of the
statement of net assets. The reacquisition price exceeded the net carrying amount of the old debt
by $41,792. This amount is being netted against the new debt and an~ortized over the ren~aining
life of the refiinded debt, which is shorter than the life of the new debt issued. This advance
refunding was undertalcen to reduce total debt service payments over the next 10 years by
$596,598 and resulted in an economic gain of $445,446.
Current Refundin~s
In addition, the government issued $1,550,000 of revenue bonds for a current refimding of
$1,510,000 of revenue bonds of the Drainage Utility. The refiu7ding was undertaken to reduce
total future debt service payments. The reacquisition price exceeded the i7et carrying ainount of
the old debt by $7,163. This amount is being netted against the new debt and amortized over the
new debt's life, which is shorter than the refi~nded debt. The transaction also resulted in an
economic gain of $58,987 and a reduction of $52,553 in future debt service payments.
Prior Year's Debt Defeasance
In prior years, the City has defeased various bond issues by creating separate irrevocable trust
fiuids. New debt has been issued and the proceeds have been used to purchase U. S. government
securities that were placed in the tnist funds. The investments and fixed earnings from the
investments are sufficient to fi~lly service the defeased debt until the debt is called or matures.
For financial reporting purposes, the debt has been considered defeased and therefore removed as
a liability from the City's governinent-wide financial statements. As of Septen~ber 30, 201 l, the
amount of defeased debt outstanding ainounted to $2,175,000.
Capital Leases
The City has entered into lease agreements as lessee for financing and acquisition of equipment
for the Fire Department. These lease agreements qualify as capital leases for accoui7ting
purposes and, therefore, has been recorded at the present value of its future n~inimum lease
payments as of the inception date.
(continued)
64
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Cauital Leases (Continued)
The assets acquired through capital leases are as follows:
Govermnental Business-type
Acti~ ities Activities
Asset:
Machineiti~ and equipment $ 1,64~,404 $ 71,077
Less: accumulated depreciation ( ~27,797) ( ~3,457)
Total $ 1,117.GU7 ~ 17,620
The fiiture ininimum lease obligations and the net present value of these minimum lease
payments as of September 30, 201 l, were as follows:
Uo~ermnental Business-t~-pe
Acti~ ities Acti~ ities
2012 $ 204,739 $ -
2013 16G.~62 -
2014 166,~62 -
2015 166.562 -
2016 116,839 -
2017-2021 350.~ 17 -
Total minimum lease pa~~ments 1,171.781 -
Less: amount representing interest ( 199.611) -
Present ~-alue of minimum lease payments $ 972.170 $ -
Emplovees' Retirement Svstem
Plan Description
The City provides pension benefits for all of its eligible einployees through a non-traditioilal, joint
contributory, hybrid defined benefit plan in the statewide Texas Muiucipal Retirement System
(TMRS), an agent multiple-employer public employee retirement systein. The plan provisions that
have been adopted by the City are within the options available in the goveriung state statutes of
TMRS.
TMRS issues a publicly available compreheilsive annual financial report that includes fina~ICial
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 inay be obtained by writii7g 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.
(continued)
65
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Emplovees' Retirement Svstem (Continued)
Plan Description (Continued)
The plan provisions are adopted by the goveriung body of the City, witlun the options available in
the state statutes governing TMRS. Plan provisions for the City were as follows:
Plan Year 2010 Plan Year 2011
Emplo~~ee deposit rate 7.0% 7.0%
Matclung ratio (city to employee) 2 to 1 2 to 1
Years required for vesring 5 5
Sei~~°ice retirement eligibilin
(el-pressed as age/~ ears of seiti-ice) 60/5, 0/20 60/~, 0/20
Updated seivice credit 100% repeating, 100% repeating,
trai~sfers trai~sfers
Aruiuiry increase (to retirees) 70% of CPI 70% of CPI
repeating
Contributions
Under the state law governing TMRS, the contribution rate for each City is determined annually by
the actuary, using the Projected Uiut Credit act~iarial cost method. Tlus 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 froin year to year. The norinal cost contribution rate finances the portion of an
active member's projected benefit allocated annually; the prior service contribution rate amortizes
t17e ui7fi~nded (overfunded) actuarial liability (asset) over the applicable period for that city. Bot11
the normal cost and prior service contribution rates include recognition of the projected impact of
aiu7ually repeating benefits, such as Updated Seivice Credits and Ai7nuity Increases.
The Gity contributes to the TMRS Plan at an actuarially determined rate. Both the employees
and the City inalce contributions inonthly. 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
Year
Ending
Aiumal
Pei~sion
Cost (APC)
Percentage Net
of APC Pension
Contribt~ted Obligation
09/30/09
09/30/10
09/30/11
1 ;60993
1,558,61~
1,220,8i9
(continued)
100%
100%
100%
66
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Emplovees' Retirement Svstem (Continued)
Contributions (Continued)
The required contribution rates for fiscal year 2011 were determined as part of the Deceinber 31,
2008 and 2009 actuarial valuations. Additional inforn~ation as of the latest actuarial valuation,
December 3 l, 2010, also follows:
Prior to reshl~cfirina Restmch~red
~1ch~ari21 ~'1h~ation Date 12 31 %08 12 31 ~09 12~31 r 10 12 `31 ~ 10
~ctuarial cost method Pr~jected Unit C~edit Pr~jected Unit Credit Pr~jected Unit Credit Pr~jzcted Unit Credit
~mortization method L evel percent L evel percent L evel percent Level pe~~cent
of patroll of p2~ro11 of p2~ro11 of payroll
asset ~~aluatirni method ~nortized cost 10-~-e<u smoothed 10-~-e<u smoothed 10-vear smoothed
market m2rket market
~ctuari2l ~lssumptions:
Investment rate ofrefirn 7.5°~0 7.5° 0 7.5°~0 7.0°n
Pr~jectad salaiti increlses varies bt- age v2ries bt~ 2ge v2ries bp 1Qe n2ries b~ aQe
and service and se~vice and seivica and se~vice
L~Ylation 3.0°~ 0 3.0° 0 3.0° 0 3.0° o
C'ost-of-livillg adjustlllelltS 3.1°-0 2.1°-0 2.1°~0 2.1° o
G~SB 25 Equivalent Single 29.0 ve<us; 28.0 vears; 24.9 vears; 383 Z~e2rs;
2mortiz2tion period closed period closed period closed period closed period
~nortiz2ticm pe~iod for
ne~~ ~aintilosses 30 ~ears 30 ~ears 30 ~ears 2~ ~ears
Funding Status and Fund Progress
lii June 2011, SSB 350 was enacted by the Texas Legislature, resulting in a restn~cture of the
TMRS fi~nds. This legislation provided for the actuarial valuation to be completed, as if
restnicturing had occurred on December 31, 2010. lii addition, the actuarial assumptions were
updated for the new fiind stn~cture, based on an actuarial experience study that was adopted by
the TMRS Board at their May 2011 meeting (the review compared actual to expected experience
for the four-year period of January l, 2006 tlirough December 31, 2009). For a complete
description of the combined impact of the legislation and new actuarial assuinptioi7s, including
the effects of TMRS city rates and funding ratios, please see the December 31, 2010 TMRS
Con~prehensive Annual Financial Report (CAFR).
(continued)
67
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Emplovees' Retirement Svstem (Continued)
Funding Status and Fund Progress (Continued)
Actuarial valuations involve estimates of the value of reported amounts and assumptions about
the probability of events far into the future. Actuarially determined amounts are subject to
continual revision as actL~al results are compared to past expectations a~7d new estimates are made
about the future. Actuarial calculations are based on the benefits provided under the terms of the
substa~~tive pla~l ul effect at the time of each valuation, and reflect a long-term perspective.
Consistent with that perspective, actL~arial methods a~~d assuinptions used include teclu~iques that are
designed to reduce short-term volatility in actliarial accrued liabilities a~~d the actL~arial value of
assets. The following schedule of fiu~ding progress presents mL~lti-yea~ trend infonnation about
whether the actuarial value of plan assets is increasing or decreasing over time relative to the
actua~ial accrued liability of benefits.
Schedule of Funding Information
The fi~nded status as of Deceinber 31, 2010, the most recent actuarial valuation date, is as follows
Actual ~~ahiation Dntz 12 31; 10~i~ 12'31 ~ 10~~~ 12!31r09 12 3 U08
Achiarial value ofasaets $ 2~,892,282 $ 3~,4~1,160 $ 2d,~73,182 $ 23,C4~,963
Achxm~ial accrned liabilit~- 28,»7,674 34,974,234 32,867,149 31,826,~~7
Perczttt fi~ttded 90.7° 0 101.4° u 74. S° 0 74.3° o
Unfiuided (o~-erhinded) nchxnrial accrued linbilit~ (CTaAL) 2,66~,392 ( ~176,926) 5,293,967 8,18L~94
~inual coezred pa~-ro11 10,12~,27~ 10,12~,27~ 10,436,29~ 10,348,960
LT ~AL a5 a perc~nt~lge of coeered pa~roll 26.3°~0 ( 4.7°~0) 79.~°0 79.1°0
~i~ ~:chinrial ~~ ahintion perfoi7ned nnder thz oriQinnl fiind shlictnre.
~~~ Achim~ial valuation performed undzr thz nz« shlichue.
Water and Wastewater Contracts
The City has two contracts with the Trinity River Authority of Texas (TRA) for the purchase of treated
water a~1d for the tra~~spoi~tation, treatment a~~d disposal of sa~iitaiy sewage a~1d other waste. The iiutial
terms of the contracts are 35 and 50 years, and they e~pire in 2014 a~~d 2023. Wlule the provisions of
each of the contracts vaiy, each contract basically requires the City to pay vaiying amoL~nts based on
the costs associated with water purchased a~~d sewage tra~~sported a~~d/or treated a~~d disposed. The
cost includes the City's proportionate share of TRA's operating and maultenance expenses, related debt
service costs, a~~d certain other miscellaneoL~s charges. Plirchases of treated water a~ld charges for the
transportation, treatment and disposal of sewage a~~d other wastes dL~ring fiscal year 2011 amounted to
approximately $6,492,680 a~1d $1,352,939, respectively.
Advances from Developers
Developers are required by ordina~lce to construct perimeter streets and related stonil drainage
facilities. The developer may request a waiver from the Council for fl~e construction requirements
a~~d instead deposit escrow fiuids with the City equal to one-half of the estimated cost of
constniction, which are L~tilized by the City to complete the project at some later date. At September
30, 2011, developers had escrowed $301,469 with the City in connection with developer agreements.
(continued)
68
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Continaent Liabilities
The Gity has been named as a defendant or co-defendant in a nuinber of legal actions. While the
outcoine of these cases is not la7own at this time, City inanagement believes that any awards to
insured parties wluch must be paid in excess of amounts covered by insurance will not be
material to the financial position of the City.
Chan~e in Accountin~ Principles
For fiscal year 2011, the City has in~plemented Governn~ental Accounting Standards Board
(GASB) Statement No. 54, "Fund Balance Reporting and Governmental Fund Type Definitions."
GASB Stateinent No. 54 eiillances the usefulness of fund balance iiiformation by providing clearer
fund balance classifications that can be more consistently applied and by clarifying the existing
governmental fund type definitions. Tlus statement establishes fi~nd balance classifications that
compromise a luerarchy based prin~arily on the extent to which a government is boui7d to observe
constraints imposed upon the use of the resources reported in governmental fi~nds. The
implementation of tlus statement resulted in the City reclassifying fund balances of its
governmental funds.
Risk Financin~ and Insurance
The City is exposed to various risks of loss related to torts, theft of, damage tq and destniction
of assets; errors and on~issions; injuries to employees; and natural disasters. During the fiscal
year 1974, the City joined the Texas Municipal League Workers Coinpensation Joint Insurance
Fund for rislcs related to employees. During the fiscal year 1992, the City joined the Texas
Municipal League Joint Insurance Fund for rislcs related to general liability, property and errors
and onussions. Premiums are paid to the Pool, which retains a limit of loss. Reinsurance
companies insure the rislcs beyond those liinits. The City retains, as a rislc, only the deductible
amount of each policy. There have been no si~lificant reductions in insurance coverage and no
settlements exceeded insurance 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) lalown 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 terminate
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.
(continued)
69
4. DETAII,ED NOTES ON ALL FUNDS (Continued)
Other Postemplovment Benefits (Continued)
Supplemental Death Benefits Fund (Contii7ued)
The City's contributions to the TMRS 508F for the years ended 2011, 2010 and 2009 were
$9,752, $10,162 and $10,61 l, respectively, which equaled the required contributions each year.
Schedule of Contribution Rates
Annu al
Accounting Required
Year Contnbl~tion
Ending (Rate)
09/30/09 O 1 %
09/30/10 O1%
09/30/11 O1%
Ach~ al
Conh7buti~n Percentage
Made of ARC
(FZate) Contributed
O1% 100%
O1% lUQ%
O1% l0U%
70
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
.S'pecial Revenue Fun~ls are used to account for specific revenues that are legally restricted to
expenditure for particular purposes.
Voluntcc~y Pa~k - This fund is used to account for the operations for which voluntary
contributions by citizens are used. Contributions are used primarily to support park
activities.
Voluntcii^y LibNCii^y - This fund is used to account for the operations for which volui7tary
contributions by citizens are used. Contributions are used primarily to support library
activities.
Police Asset Fo~feituNe -This fund is used to account for activity related to seizure of assets
in criminal-related activities.
T~ee P~ese~vntion - This fi~i7d is used to account for operations related to replacement of
trees, wluch are eliminated due to commercial development. Contributions are received from
entities that are developing the property.
Libra~y Donation - This fund is used to account for private and corporate donations for
capital purchases related to the library building for the City.
Rec~eationcil Event - This fiuld is used to account for activities related to atl~letic events for
the City.
Colleyville CenteN Development - This fi~nd is used to account for contributions received to
construct a community center.
Recycling - This fund is used to account for the promotion of recycling activities in the City
of Colleyville. Contributions are received from the holder of the City's recycling franchise.
LEOSE (Law Enf'o~cement Office~ S'tunclnN~ls uncl Educution) - This fund is used to
account for activities related to the coiltinuing education of qualified law enforcement
officers as funded by the State of Texas LEOSE Account.
C'olleyville Econo~ruc Development - This fund is used to account for the use of bond
proceeds and sales tax revenues for municipal park improvements, the purchase of land and
equipment for additional neighborhood parlcs and for the construction of a community center
aild library.
C~ime Dist~ict - Tlus 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.
71
Kidsville Maintenance - This fund is used to account for contributions received for the
maintenance of Kidsville Playground.
Speciul Doncctions - This fiind is used to account for various donations made to the City for
specific projects.
C'ouNt Technology - This fund is used to account for the collection and use of fines collected to
be specifically used on technology for the court.
C'ouNt Secu~ity - Tlus fund is used to account for the collection aild use of fines collected to be
specifically used for security purposes.
TDPA Grnnt - This fi~i7d is used to account for grant proceeds received for the acquisition of
equipment and expenditures relating to fire aild rescue.
Public ANt - 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
C~cpital PNOjects Funds are used to account for the acquisition and construction of major capital
facilities other than those financed by proprietary fiinds and trust fui7ds.
Colleyville To~zo~oiv Funcl - is used to account for proceeds received on gas leases on City-
owned property to be used for capital purchases.
PaNks 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.
Purklancl De~liecction Fund - This fund is used to account for the acquisition of land for new
parlc sites and to n~alce iinproveinents to or expand existing parlcs to better serve new
development. Fees collected from the developers of residential and conunercial development
finance the improvements.
Colleyville Econorruc Developrrzent Co~po~ation (CEDC) - This fiind is used to account for
financial resources to be used for the acquisition of construction of GEDC capital facilities.
Financing is provided primarily by the revenue from certificate of obligation bonds.
Capitul und Cable Equipnient Replacerrzent - Tlus fi~nd is used to account for the replacenlent
of cable equipment and other capital equipn~ent.
I~imzey Park - This fund is used to account for the coi7sti-uction of Kiinzey Parlc. The source of
funding was a Texas Parlcs and Wildlife state grant.
72
THIS PAGE INTENTIONALLY LEFT BLANK
73
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2011
ASSETS
Cash and cash equi~~alents
In~ estments
Di~e fiom other go~°ei7uiients
Acci~ued interest
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Acconnts pa~ able
Accrned liabiliries
Due to other fiuids
Advances from de~~elopers
TotalliaUilities
Fund balances:
Restricted
Cominitted
Assigned
Total fiuid balances
Total liabilities and fund balances
Snecial Re~~em~e Fi~nds
Voluntan Police Asset
Vohintaiti Parl~ LiUraiti Forfeihire
$ - $ 860 $ -
396,8~3 3~9,~65 -
$ 396,880 $ 3~0,336 $ -
$ - $ - $ -
72,276 - -
32~,60~
$ 396,880
74
3~0,;;6
3~0,336
$ 350,336
$ -
Special Reeem~e Fi~nds
Commi~iut~-
Tree Libran~ Recreational Development
Presen ation Donation E~ ent Center Rec~ cling LEOSE
$ 18,927 $ 181,6;7 $ - $ 6,-~~9 $ =~,0-~1 $ 11,0~8
$ 18,927 $ 181,637 $ - $ 6,4~9 $ ~,041 $ 11,0~8
$ - $ 25,7ti $ - $ - $ - $ -
13,72~ - - - - -
1 ~,72~ 25,725 - - - -
- 15~912 - 6,~~9 - 1L0~8
5203 - - - - -
- - - - -~,0~ 1 -
5,203 1~5,912 - 6,~~9 -~,041 11,0~8
$ 18,927 $ 181,637 $ - $ 6,~~9 $ -~,0~1 $ 11,0~8
(continued)
75
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
(Contimied)
SEPTEMBER 30, 2011
ASSETS
Cash and cash equi~~alents
In~ estments
Di~e fiom other go~°ei7uiients
Acci~ued interest
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Acconnts pa~ able
Accrned liabiliries
Due to other fiuids
Advances from de~~elopers
TotalliaUilities
Fund balances:
Restricted
Cominitted
Assigned
Total fiuid balances
Total liabilities and fund balances
Special Re~ em~e Funds
Collevville
Economic Kidsville
De~~elopment Crime District Maintenance
$ 1,057,7~6 $ 810,881 $ 20,~26
~61,3~0 - -
2-~7,6~6 192,81; -
6~6 - -
$ 1,867,378 $ 1,003,69~ $ 20,~26
$ 3,478 $ 169 $ -
- 8,612 -
3,~78 8,781 -
L863,900
99~913
20,~26
$ 1,867,378
76
$ 1.1)0;,(i9-4
$ 20,#26
Saecial Re~-em~e Fi~nds
Special Cotut
Donations Teclmolo~ Conrt Sect~rin TDPA Grant Piiblic Art
$ 20,2=~9 $ 7,~59 $ 96,035 $ - $ 7,90~
- ~9,92~ - - -
.U LV,LY% .Jl J/,-~UJ .Jl J\I,V_rJ
.J) UV,-~VJ
`~ l,K_> ~ ,`{, - `{~ -
18,397
18, 3 97
.D GV,Lt l
57,385
~7,385
$ 57,385
96,035
$ 96,03~
(continued)
77
'{~ -
7~,ZU~
7~,205
12,160
$ 86,36~
iU /,JVY
~ -
$ 7,90#
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
(Contimied)
SEPTEMBER 30, 2011
Capital Project Fi~nds
Colle~~ville Parks
ASSETS
Cash and cash equi~~alents $ 1,560,1~0 $ 1,203,209
lii~, eshnents 69~,252 -
Di~e from other go~°ei7unents - -
Acci~ued interest ~~ 1 -
Total assets $ 2254,8~3 $ 1,203209
LIABILITIES AND FUND BALANCES
Liabilities:
Acconnts pa~ able $ - $ 10,800
Accrned liabiliries - -
Due to other fiuids - -
Ad~•ances from de~ elopers - -
Total liabilities - 10,800
Fund balances:
Restricted - -
Comnutted 225-~,8~3 1,192,~09
Assigned - -
Totalfiind balances 225~,8~3 L192,~09
Total liabilities and fiand balances $ 225~,8~3 $ 1,203209
78
Capital Project Funds
Capital and
CEDC Cable Total
Parl~land Capital Eqi~ipment Go~Tenunental
Dedication Project Replacement Kimze~ Par1L Fnnds
$ ~67 $ 352,613 $ 697,701 $ 3,576 $ 6,061,378
1,~82,326 - ~53,117 - 3,987277
- - - - 526,82~
1,2-~3 - ~0 - 2,~ 10
$ 1,48~,036 $ 3~2,613 $ 1,1~0,858 $ 3,~76 $ 10.~77,889
$ - $ - $ 1~,25~ $ - $ 56,279
- - - - 8,612
- - - - 1~6,~81
- - - - 13,72#
- - 1~,2~5 - 225,096
- - - - 3236,62~
L~8~,036 352,613 - 3,576 5,967,620
- - 1,136,603 - 1,1=~8,~~8
1,~8~,036 352,613 1,136,603 3,576 10,352,793
$ 1,~8~,036 $ 3~2,613 $ 1,150,858 $ 3,576 $ 10,577,889
79
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2011
REVENUES
TaYes
Fees and fines
Intergo~ ei7unental
Charges for sei~-ices
Donations
Investment eai7ungs
Miscellaneous
Total revern~es
EXPENDTTURES
Culrent:
Gener~il go~-ei7nnent
Commiuuty de~ elopment and engineering
Fire and resci~e
Leisiue sen ices
Mniucipal coi~rt
Police
Debt sei~~ice:
Principal
Interest and other charges
Capital ontla~~
Total eapendifires
EXCESS (DEFICIENCI~ OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers oi~t
Total other financing sources aud i~ses
NET CHANGE IN FUND BALANCES
FUND BALANCES, BEGINNING
CHANGE IN ACCOUNTING PRINCIPLE
FUND BALANCES, ENDING
Special Re~ em~e Fnnds
Vohintan Vohintan Police Asset
Park Libraiti~ Foi~eih~re
$ - $ - $ -
1~6,610 1~6,086 -
1,002 - -
1~7,612 1=~6,086 -
239~8 175,252 -
- - 1,2~7
23,9~8 175,252 1,2~7
123,664 ( 29,166) ( 1,2~7)
( 95,947) - -
( 95,9~7) - -
27J17 ( 29,166) ( L247)
296,887 379,502 1,2~7
$ 32~,60~ $ 3~0,3;6 $ -
80
Suecial Re~ enne Fnnds
Commuiut~~
Tree Library° Recreational De~, elopment
Preservation Donation Event Center Rec~=cling LEOSE
$ - $ - $ - $ - $ - $ -
- 10,551 - - - 3959
- 263,420 6,500 125 - -
- - - - 1 ~,000 -
- 273,971 6,500 125 15,000 3,959
- - - - ll,359 -
1 - - - - -
- 13~,3~9 12,322 1J96 - -
- - - - - 11,09#
- 90,602 - - - -
1 224,951 12,322 1,796 11,3~9 ll,094
( 1) -~9,020 ( ~,822) ( 1,671) 3,6~1 ( 7,135)
( 1) ~FJ,VLV ~ ~,25LL) ~ l,b/1) j,b~l ( /,lj~)
5,20~ 106,892 ~,822 8,120 ~00 18,183
$ ~,20~ $ 1~5,912 $ - $ 6,~~9 $ ~,0~1 $ ll,0~8
(continued)
81
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
(Contimiecl)
FOR THE YEAR ENDED SEPTEMBER 30, 2011
Saecial Re~ em~e Fnnds
REVENUES
TaYes
Fees and fines
Intergo~ ei7unental
Charges for sei~-ices
Donations
Investment eai7ungs
Miscellaneous
Total revern~es
EXPENDTTURES
Culrent:
Gener~il go~-ei7nnent
Commiuuty de~ elopment and engineering
Fire and resci~e
Leisiue sen ices
Mniucipal coi~rt
Police
Debt sei~~ice:
Principal
Interest and other charges
Capital ontla~~
Total eapendifires
EXCESS (DEFICIENCI~ OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers oi~t
Total other financing sources aud i~ses
NET CHANGE IN FUND BALANCES
FUND BALANCES, BEGINNING
CHANGE IN ACCOUNTING PRINCIPLE
FUND BALANCES, ENDING
Colle~°~ ille
Economic Kids~ ille
Development Crime District Maintenance
$ 1,319,517 $ 1,09~,08-~ $ -
3,376 1,3~6 -
1,322,89; L09~,~30 -
ll9,119 - -
102,12~ - -
- #21,#6~ -
300,000 - -
3-~~,19~ - -
710,~91 ~~,608 -
1,~7~,930 4~7,072 -
( 253,037) 638,358 -
( 165,331) ( 517,~52) -
( 16~,331) ( 517,~52) -
( ~18,368) 120906 -
2,282268 87~,007 20,~26
$ 1,86;,900 $ 99~91; $ 20,~26
82
Saecial Re~ emie Fi~nds
Special Court
Donations Tecluiolo~ Conrt Seci~rin TDPA Grant Public Art
$ - $ - $ - $ - $ -
- 27,749 20,859 - -
6-~9 - - 126,118 -
3-~,7~~ - - - -
;5, ~9~ 27,7-~9 20,859 126,118 -
20,866 - - 113,958 -
>,187 - - - -
- 26,585 19,966 - -
9,622 - - - -
13,110 - 7,515 - -
~8,785 26,58~ 27,~81 113,9~8 -
( 13,391) 1,16~ ( 6,622) 12,160 -
31J88 56,221 102,6~7
$ 18,397 $ 57,385 $ 96,0~5
(continued)
83
12,160
7, 904
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
(Continuecl)
FOR THE YEAR ENDED SEPTEMBER 30, 2011
Capital Project Funds
Colle~ ~-ille Parl~s
Toinorro~~ Toinoi7o~~
REVENUES
TaYes $ - $ -
Fees and fines - -
Intergo~ ei7unental - -
Charges for sei~-ices 702,081 -
Donations - -
Inveshnent eai7ungs 1,977 2,301
Miscellaneous - -
Total revern~es 70~,0~8 2,301
EXPENDTTURES
Cul7ent:
Gener~il go~-ei7nnent - -
Commiuury development and engineering - -
Fire and resci~e - -
Leisi~re ser~°ices 6,637 900
Mniucipal coi~rt - -
Police - -
Debt sei~~ice:
Principal - -
Interest and other charges - -
Capital ontla~~ ~ 16,9~3 398,800
Total eapendifires 323,580 399J00
EXCESS (DEFICIENCI~ OF REVENUES
OVER (UNDER) EXPENDITURES ~g~,~7g ( ~~~,-~~~)
OTHER FINANCING SOURCES (USES)
Transfers in 165,331 95,9~7
Transfers oi~t - -
Total other financing soi~rces and i~ses 165,331 95,9~7
NET CHANGE IN FUND BALANCES ~~~,809 ( 301,~~2)
FUND BALANCES, BEGINNING 1J09,034 1,~93,861
CHANGE IN ACCOUNTING PRINCIPLE - -
FUND BALANCES, ENDING $ 2,2~~,8~3 $ 1,192,~09
84
Capital Project Funds
Capital and
Cable Total
Parl~land CEDC Capital Equipment Govei7unental
Dedication Project Replacement Kimzev Parl~ Fi~nds
$ - $ - $ - $ - $ 2,413,601
- - - - ~8,608
- - - - 1-~1,277
- - - - 702,081
~,915 - - - 602,~01
6,6~8 - ~55 - 17,115
- - - - 15,000
11,~73 - ~55 - ~,9~0,08~
- - 28,852 - ~0,2ll
- - - - 119,120
- - - - 13~,82~
- 33,093 - - ~95,609
- - - - ~6.» 1
- - - - #~3,~27
- - - - ~00,000
- - - - 3 ~-~,19~
118,518 28,00~ - - 1J19,~91
118,518 61,097 28,852 - 3,6~3,528
( 106,9~5) ( 6L097) ( 28,397) - 296,~55
- - ~63,500 - 72~,778
- - - - ( 778J30)
- - ~63,500 - ( 53,952)
( 1069~5) ( 61,097) ~35,103 - 2~2,603
1,~90,981 -~ 13,710 701,500 3,576 10,87~,655
- - - - ( 76~.=~65)
$ 1,~8~,036 $ ;52,613 $ 1,1~6,603 $ 3,576 $ 10,~52J9~
85
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, 2011
Varivice ~ti ith
Bi~dbet -
Positi~-e
Bi~dget Ach~al (Negati~~e)
REVENUES
Tales $ 1,861,071 $ 2,0~2,683 $ 181,612
I~iveshnent eanungs ~,750 2,180 ( 2,570)
Total revem~es 1,865,821 2,0~~,86~ 179,0~2
EXPENDITURES
Debt sei~~ice:
Principal rerirement 2,-~82,612 L959,00=~ 52 ~,608
Interest and fiscal charges ~,000 ~9~,125 ( ~90.125)
Total e~pendih~res 2,~86,612 2,~53,129 33,~83
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES ( 620J91) ( ~08,266) 212,52~
OTHER FINANCING SOURCES
Proceeds fiom long-tei7n debt, net - 2,9~5,000 2,9~5,000
Pa~~inent to bond escro~~ agent - ( 3,012,910) ( 3,012,910)
Preminm on bond issi~ance - 6,561 6,561
Transfers in 503952 503952 -
Total other financing sotuces 503,952 ~~2,603 ( 61,3~9)
NET CHANGE IN FUND BALANCE ( 116,839) 3~,337 1~1,176
FUND BALANCE, BEGINNING L 15~,570 L 15~,570 -
FUND BALANCE, ENDING $ LO~7,731 $ L188,907 $ 151,176
86
AGENCY FUNDS
ENZployee Activity Funcl - Tlus fund is used to account for funds held by the City for the benefit
of employees of the City.
Sesquicentennial Fun~l - This fi~nd is used to account for fiinds held by the City for the benefit
of the City of Colleyville's lustorical purposes.
87
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF FIDUCIARY NET ASSETS
AGENCY FUNDS
SEPTEMBER 30, 2011
Employee
Activit~r Sesquicentennial
Fund Fund Total
ASSETS
Cash and cash equivalents $ 6,~9~ $ 17,37~ $ 23,869
Total assets $ 6,495 $ 17,374 $ 23,869
LIABILITIES
Due to other agencies and individuals $ 6,~9~ $ 17,37~ $ 23,869
Total liabilities $ 6,495 $ 17,374 $ 23,869
88
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES
AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2011
Einplo~-ee Activit~- Fl~nd
Balance Balance
10/Ol/10 Additions Deletions 09/30/11
Cash and cash equivalents $ 7,149 $ 2,936 $ 3,590 $ 6,~49~
Total assets $ 7,149 $ 2.936 $ 3,590 $ 6,495
Di~e to other agencies and individuals $ 7,1~9 $ 2,936 $ 3,590 $ 6,49~
Total liabilities $ 7,149 $ 2,936 $ 3,590 $ 6.49~
Sesquicentennial Fund
Balance Bala~ice
10/O1/10 Additions Deletions 09/30/11
Cash and cash equivalents $ 17,439 $ 23~ $ 300 $ 17,374
Total assets $ 17,~39 $ 235 $ 300 $ 17,37~
Due to other agencies a~d individuals $ 17,439 $ 235 $ 300 $ 17,374
Totalli~bilities $ 17,439 $ 23~ $ 300 $ 17,374
Total Agenc~- Funds
Balance Balance
10/O1/10 Additions Deletions 09/30/ll
Cash and cash equivalents $ 24,588 $ 3,171 $ 3,890 $ 23,869
Total assets $ 24,588 $ 3,171 $ 3,890 $ 23,869
Due to other agencies and individuals $ 24,588 $ 3,171 $ 3,890 $ 23,869
Totalliabilities $ 24,588 $ 3,171 $ 3,890 $ 23,869
89
THIS PAGE INTENTIONALLY LEFT BLANK
90
STATISTICAL SECTION
This part of the City of Colleyville, Texas' coinprehensive amlual 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 92
These schedules contain trend inforination to help the reader
understand how the government's financial performance and well-
being have changed over tiine.
Revenue Capacity 102
These schedules contain inforination to help the reader assess the
government's most significant local revenue source, the property
tax.
Debt Capacity 107
These schedules present information to help the reader assess the
affordability of the goveriunent's current levels of outstanding debt
and the goveriu7lent's ability to issue additional debt in the future.
Deinographic and Economic Information 114
These schedules offer demographic and economic indicators to
help the reader ui7derstai7d the ei7vironment within which the
goveriunent's financial activities talce place.
Operating Information 116
These schedules contain service and iiifrastructure data to help the
reader understand how the iiiformation in the goveri7ment's financial
report relates to the services the goveriunent provides and the
activities it perforins.
Sources: Unless otherwise noted, the information in these schedules is derived from the
comprehensive am7ual financial reports for the relevant year.
91
CITY OF COLLEYVILLE, TEXAS
NET ASSETS BY COMPONENT
(Acci~ial Basis of Accountin~)
Fiscal Year
2003 200~ 200~
Go~ enunental acti~ ities:
Invested in capital assets, net of related debt $ 55965,990 $ 60,055,616 $ 60,884,756
Reshicted for:
Debt sei~-ice 1,040,~03 756,~16 896,130
Coi~rt securin and tecluiolo~~ - - -
Grant programs - - -
Leisi~re sei~-ices - - -
Econoinic de~ elopment - - -
Streets and drainage - - -
Police - - -
Uiuesh7cted 15,6~6,259 15,9~8,~97 19,132,376
Total govenunental activities net assets $ 72,652,652 $ 76,760.629 $ 80913262
Business-n~pe actiz ities
In~ ested in capital assets, net of related debt $ 22,588,86-~ $ 23,957,~32 $ 2~,827, ~65
Restricted for:
Debt sei~-ice 668,120 668239 670,571
Uiueshicted 1~,502,121 15,~70,27~ 16,37=~,236
Total bi~siness-n°pe acti~~ities net assets $ 37,759,105 $ ~0,095,9~6 $~1,872,172
Primary go~-enunent
Invested in capital assets, net of related debt $ 78,55~,854 $ 84,013,0~8 $ 85,712,121
Restiicted for:
Debt sei~~ice 1J08,523 1,~2~J55 1,566J01
Coi~rt secnrin and tecluiolo~- - - -
Grant programs - - -
Leisure sei~Tices - - -
Econoinic de~-elopment - - -
Streets and drainage - - -
Police - - -
Uiuestricted 30,1~8,380 31,~18,772 35,506,612
Total priinaiy go~~eriunent net assets $ 110,~11,757 $ 116,856,57~ $ 122,785,~3~
Note: The Cin- began to report accnzal infarmation ~~ hen it implemented GASB 3~ in fiscal year 2003.
The Cin implemented GASB ~~ in fiscal year 2011 to provide clearer fi~nd balance classifications. Prior ~-ears
~~~ere not restated.
92
TABLE 1
Fiscal Year
2006 2007 2008 2009 2010 2011
$ 66,991,1~6 $ 71,82~,719 $ 77,~8~,725 $ 792~3,~97 $ 81,970,67~ $ 83,166,142
937,578 1,032,586 889,689 1,0~0,896 1,0~7,699 1,106,893
- - - - - 153,~20
- - - - - 23,208
- - - - - 201,18~
- - - - - L863,900
- - - - - 6,~28,106
- - - - - 99~,913
19,002,816 21,987,778 21,862,136 27,~98,86~ 25,936J03 17,837,~93
$ 86,931,~~0 $ 9=~,8~5,083 $ 100,236,550 $ 107,783257 $ 108,965,076 $ 1ll,775,359
$ 25,919,619 $ ;2,80=~,70; $ ;9,~~2,1-~8 $ ;9,17=~,562 $ ;9,080,0-~; $ ;8,892,098
882,821 1,080,751 1,02~,3-~9 987,181 983.225 662,0~0
19253,772 13,62627~ 7,837J90 8,127J36 7,7=~7,336 10,111J76
$ ~6,0~6,212 $ ~7,~11,728 $ ~8,30~,287 $ ~8,289,~79 $ ~7,810,60~ $ ~9,665,92~
$ 92,910J65
1,820,399
38,256,588
$ 132,987,752
$ 10~,629,-~22
2,113,337
35,61~,0~2
$ 1~2,~~6,811
$ 116,926,873
1,914,038
29,699,926
$ 1~8,5~0,837
$ 118,418,059
2,028,077
35,626,600
$ 156,072,736
$ 121,050,717
2,0-~0,924
3 ;,68~,039
$ 156,77~,680
$ 122,058,2~0
1,768,9-~3
1~3,~20
23,208
201,18~
1,863,900
6,~28,106
99#,913
27,9~9,369
$ 161,~~1,28~
93
CITY OF COLLEYVILLE, TEXAS
CHANGES IN NET ASSETS
(Accrual Basis of Accoiinting)
Fiscal Year
200; 200~ 200~
EXPENSES
Govenunental activities:
General go~-ei7mient $ 1,5~1,989 $ 2,5~2,016 $ 2,2~~,96~
Commi~iun~ De~~elopment and Engineering 1,280,~10 1281,~29 L16~,3~5
Fire and rescue 3,010,260 3,1~~,81~ 3, ~2~,10 ~
Leisure seii ices 2,728287 2,953,528 2923958
Maintenance 193,865 36~,256 36~,~3~
Mniucipal comt 235,053 250,551 238,87~
Police 3,~98,~19 3,295,26; 3,53;,08~
Streets and drainage 2,195256 2,562,~99 2,970,=~75
Interest on long-tei7n debt 1,~91,6~9 1290,825 1,190,857
Total govenunental acti~~ities elpenses 16,185,188 17,685,181 17957,093
Bnsiness-n°pe acti~-ities
Water and ~ti~aste~ti~ater 7,70~,603 7,850,570 8,962,630
Drainage 35~,960 517,713 550,00~
Interest on long-term debt 601,560 - -
Total bi~siness-type acti~~ities elpenses 8,661,12~ 8,368,28~ 9,512,635
Total primary govenunent program e~penses $ 2~,8~6,3ll $ 26,053,~6-~ $ 27,~69J28
PROGRAM REVENUES
Go~~ei7unental acti~, ities:
Charges for seii-ices:
General go~-ei7uiient $ 18,000 $ 16,000 $ 6,000
Comim~iun~ Development and Engineeiing 12-~2,838 1,687,921 1,515,052
Fire and rescue 104,990 125,081 136,~98
Leisi~re seii-ices 39~,098 399,319 386,658
Muiucipal court ~ 10,5~~ 508,572 492,80>
Police -~5,626 66,135 95,23~
Streets and drainage 2~0,309 512,171 336,111
Operaring grants and contribi~rions 328,32~ 619,459 523J0~
Capital grants and contribi~tions 8,01~,~01 3,8~7,202 ~,283J7~
Total govenunental activities prob ain revemies 10,899,230 7J91,860 6,775,836
94
TABLE 2
Fiscal Year
2006 2007 2008 2009 2010 2011
$ 2J29,06~ $ 2,~;8,051 $ 2,81~,87~ $ 2,9~5,~81 $ 2,691,905 $ 2J1~,15~
1,267,136 1,523J68 1,=~81,12=~ 1,530,901 1,6~5221 1,402,669
3,81~,58~ 3J90,8;1 3,958,111 ~,11;,793 ~,~19,9~5 ~,~21,~96
3,513,992 3,525,094 ~,033,105 3,9~1259 4,118J69 4,191,960
38;,50~ ~3~,98~ ~17,26~ ~55,752 ~23J8; ~12,513
270,3~5 262,198 32~,020 291J24 302J56 303,839
3,801,6~~ ~,232,18~ ~,657,~38 ~,8~1,217 ~,836,27~ ~,878,055
2,932,~65 2,890,995 3,129,730 3,503,519 3,885,182 3,657,591
1,1~2,0~3 1,032,37~ 1,1O1J1~ 1,051,180 1,000,061 8~9,390
19,8~~,778 20,130,~80 21917,381 22,67~,826 2;,;2;,896 22,832,667
9,~28,373 9,337,282 11,179,~~8 10,612,372 11,2~2,~53 12,009,187
~~8963 671,773 ~93,600 6~8,016 572,23~ 7~2,160
~~0,703 ~00,7~2 362,6=~2 331,361 296288 -
10,~ 18,0 ~9 10,~09,807 12,135,790 11,601J~9 12,111,075 12J~ 1,3~7
$ 30,272,817 $ 30,5~0,287 $ 3~,053,171 $ 3~,276,575 $ 35,~3~,971 $ 35,58~,01~
$ 6,000 $ 6,000 $ 16,000 $ 1~,000 $ 15,000 $ 97,23~
2,163,596 1,~5~,7~~ 1,332,~53 666,91~ 6~7,298 868,363
239,386 303,868 2~0,81~ 271216 235,22> 305,882
~~8,606 ~2~,02-~ 563J38 6,595,~87 ~68,~26 1,213,167
813J81 932,~52 1,171919 1,002,008 1213,178 970,1~3
70,899 81,05~ 79,699 51,631 9~,059 70,709
~72,860 35~,157 3~8,688 21~,619 3~5,780 296,3~0
399,819 ~31,683 1,856,567 713,189 5~3,~16 822,0~6
~,35~,357 ~,372,281 3,973,95~ 360,023 ~23,873 ~0~,3~7
8,970,30~ 9,361,263 9,603,832 9,891,087 3986,35> >,0~9,251
(continued)
95
CITY OF COLLEYVILLE, TEXAS
CHANGES IN NET ASSETS
(Continuecl)
(Accrual Basis of Accoiinting)
PROGRAM REVENUES (Contirn~ed)
Bt~siness-n~pe acti~ ities:
Charges for sei~-ices:
Water and ~vaste~ti ater
Drainage
Capital grants and contribt~tions
Total bnsiness-n-pe acti~ ities program re~-eunes
Total primai~ govei7mient program re~~em~es
NET (EXPENSE) REVENUES
Go~Tei7unental acti~~ities
Biisiness-n°pe acti~ ities
Total primary govenunent net e~pense
Fiscal Year
~nn~ ~nn.i nnnc
$ 8,595,871
666,399
1,~~3,~02
10,705,772
$ 8,92-4,9-~2
67791 ~
L~12990
11,01>,8#~
$ 9,856,889
675,0~5
8~#,2~6
11,376,190
$ 21,605,002 $ 18,807,705 $ 18,152,026
$( 5,285,958) $( 9,893,321) $(11,181,257)
2,0~~,6~9 2,6~7,562 1,863,555
( 32-~1,309) ( 72~SJ59) ( 9,317J02)
GENERAL REVENUES AND OTHER CHANGES IN NET ASSETS
Go~ ei7unental acti~, ities:
Taies
Propeit~~ 8,183,790
Francluse 1,395,569
Sales 2,964,331
Other 32,123
Investment eanungs ~68,6>6
Miscellaneoi~s 63,052
Gain on sale of capital assets -
Transfers 1,058,060
Total go~°enunental acti~ities 1~,16>,~81
Biisiness-n pe acti~ ities:
In~ estment eanungs
Gain on sale of capital assets
Transfers
Total bi~siness-n~pe activities
Total priinaiti- go~~ei7unent
CHANGE IN NET ASSETS
Govei7unental activities
Bnsiness-t~°pe acti~-ities
Total primary go~Tei7unent
282,661
( 1,058,060)
( 775,399)
13,390,182
8,879,623
1269,250
8,53~,388
1,-~>8,079
3,381,63~
37,296
217,316
53,~38
~73,366
1~,155,617
162,6~~
( ~73,366)
( 310J21)
13,8~~,896
~,262,296
2,336,8~1
8938,888
1,~77J~9
3,801,369
~3,974
~~3,>70
153,9~7
#6~,393
15,;33.890
377,06~
( 46~,393)
( 87,329)
15,2~6,~61
~,152,633
1,776,226
$ 10,148,873 $ 6,599,137 $ 5,928,859
Note: See Table 9 for infoi7nation aboi~t Water and Waste~tiater Charges for seiti~ices
The Cit~ began to report accrnal infoi7nation ~tihen it implemented GASB Statement 3~ in fiscal y°ear 200 ~.
96
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THIS PAGE INTENTIONALLY LEFT BLANK
9s
CITY OF COLLEYVILLE, TEXAS
FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
General fund
TABLE 3
Fiscal Year
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Non-spendable $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 2,147
Restricteed - - - - - - - - - -
Committed - - - - - - - - - 706,942
Assigned - - - - - - - - - -
Unassigned 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 10,223,232
Total general fund $ 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 $ 10,932,321
All other governmental funds
Non-spendable $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Restricted 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 10,853,638
Committed - - - - - - - - - 5,967,620
Assigned - - - - - - - - - 1,148,548
Unassigned, reported in:
Special revenue funds - 2,068,938 2,459,810 3,251,861 4,760,679 4,814,412 5,696,905 7,267,350 5,664,493 -
Capital projects funds - 6,012,845 4,967,859 7,438,437 7,012,225 9,055,431 7,811,492 12,369,631 11,524,206 -
Total all other
governmentalfunds $ 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 $ 17,969,806
Note: This schedule does not restate prior years for Special Revenue and Capital Projects Funds.
The City implemented GASB 54 in fiscal year 20ll to provide clearer fund balance classifications. Prior years were not restated.
99
CITY OF COLLEYVILLE, TEXAS
CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
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
TABLE 4
Fiscal Year
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
$ 12,296,418 $
334,502
913,426
270,872
615,099
534,590
464,515
746,041
107,962
206,358
554,564
17,044,347
12,596,779 $ 13,438,345 $
277,084 416,319
926083 1,505,512
300,252 577,171
509,395 520,926
915,695 952,452
468,656 217,316
504,718 328,040
707,829 797,042
96,857 92,198
17,3 03,348 18, 845,321
14,277,010 $ 15,708,945 $
274,996 549,911
1,359,329 1,931,265
366,111 482, 860
513,129 841, 595
940,212 1,173,394
443,570 904,361
167,293 5,409
502,789 396,627
183,902 83,730
19,028,341 22,078,097
16,701,290 $ 17,975,445 $
683,425 226,488
1,244,218 1,113,595
389,657 358,688
965,416 1,203,260
1,190,327 1,322,732
1,224,361 804,864
4,361 1,437,935
735,756 548,093
107,700 116,280
23,246,511 25,107,380
18,889,480 $ 19,353,358 $
646,302 607,132
208,622 334,075
1,028,425 1,244,146
7,129,322 917,884
471,524 76,968
350,468 100,807
401,432 379,853
155,100 97,833
29,280,675 23,112,056
19,627,734
923, 590
281,260
998,221
1,694,993
95,823
541,709
602,401
70,453
24,836,184
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 2,383,276
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 1,397,256
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 3,972,053
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 4,596,862
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 3,177,878
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 2,052,298
150,056 234,180 250,597 238,245 270,037 252,961 323,059 291,893 302,172 302,666
182,814 162,865 356,819 357,983 377,144 415,708 410,636 449,806 417,946 405,911
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 2,510,027
1,807,778 1,664,219 1,277,593 1,289,866 1,141,817 1,094,001 2,584,790 1,033,148 944,751 838,320
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 2,259,004
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 23,895,551
(continued)
100
CITY OF COLLEYVILLE, TEXAS
CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
(Continued)
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
TABLE 4
Fiscal Year
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
EXCESS OF REVENUES
OVER (UNDER)
EXPENDITURES $( 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) $ 940,633
OTHER FINANCING
SOURCES (USES)
Bonds issued 3,000,000 - - 9,570,000 - 9,890,000 - - - 2,945,000
Refunding bonds - - - - - - - - - -
Notes payable - - - 94,187 - - - - - -
Capitallease - - - - 408,716 - 176,150 - 981,238 -
Sale ofcapital assets - - - - 152,270 8,800 98,168 33,759 65,306 7,098
Premium on bond issue 6,561
Payments to escrow - ( 600,000) - ( 7,450,606) - ( 4,921,334) - - - ( 3,012,910)
Transfers in 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 2,458,396
Transfers out ( 644,333) ( 708,051) ( 641,895) ( 1,211,561) ( 1,670,904) ( 973,069) ( 1,240,165) ( 1,514,979) ( 1,027,274) ( 1,599,517)
Total other financing
sources (uses) 3,448,635 458,060 473,366 2,677,974 1,093,343 5,641,551 1,116,254 857,556 1,904,166 804,628
NET CHANGE IN
FUND BALANCES $( 352,305) $( 5,426,201) $ 55,650 $ 3,248,542 $( 69,365) $ 3,188,611 $( 406,382) $ 5,752,492 $( 1,809,102) $ 1,745,261
DEBT SERVICE AS
A PERCENTAGE
OF NONCAPITAL
EXPENDITURES 17.3% 19.7% 16.7% 16.8% 16.4% 16.0% 17.6% 15.3% 14.3% 14.5%
Note: Capital Outlay does not include contributed capital assets received from developers.
101
CITY OF COLLEYVILLE, TEXAS
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Fiscal
Year
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Residential
Properry
$ 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
3,917,415,346
Source: Tarrant Appraisal District
Personal
Properry
$ 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
92,176, 541
Less:
Tax-exempt
Properry
$ 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
253,414,335
Total Taxable
Assessed
Value
$ 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
3,756,177,552
Total
Direct
TaY Rate
$ 0.3474 $
0.3474
0.3474
0.3474
0.3474
0.3474
0.3559
0.3559
0.3559
0.3559
TABLE 5
Estimated
Actual
TaYable
Value
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
3,756,177,552
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.
102
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
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
2011 0.29758 0.05832 0.35590 1.4250 1.4150 1.29000 1.2882 1.5306 0.26400 0.137600 0.227900
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.
103
Taspa~ er
Me1~-iu & Martiudale
Oncor Electric Deli~ ei~-
Lifetiine Fitness Real Estate
Toll Dallas TX LLC
RCC Village Properties
Collev~-ille Plaza LP
Leonard Hudsou
Sil~~eroali Land Company LP
Dreiling Realty LLC
Ul~lrnan Colle~-~-ille, LLC
Alberlsons
Pai~l and Shelia Joluison
Pats~ Smith
Green~~av Glade Partners, LP
Colley~~ ille De~~°elopment Co.
Good~cre LTD Paitnerslup
Pulte Honie Coip of Teias
Sot~th~ti esteni Bell
Total
Source: Tarrant Appraisal Disri7ct
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL PROPERTY TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
TABLE 7
2011 2002
Percentage Percentage
of Total Cin~ of Total Cin~
Taiable Ta~able Taiable Tasable
Assessed Assessed Assessed Assessed
Value Valne Vah~e Value
$ 22»7,000 0.60% $ - - %
15,889,593 0.~2% 1~,396,923 OJ2%
12,233,988 0.33% - - %
10,65~,992 0.28% - - %
>,933,~~0 0.16% - - %
5,78~,000 0.15% 6,675,000 0.31%
5,03~J00 0.13% - - %
5,03~,510 0.13% - - %
~,90~,260 0.13% - - %
=~,79~,5~3 0.13% - - %
- - % 17,165,5~3 0.81%
- - % -~,750,000 0.22%
- - % ~,3~9,0~9 0.20%
- - % -~,208,3~0 0.20%
- - % 3,995,330 0.19%
- - % 3,816,117 0.18%
- - % 3,~26,2~0 0.17%
- - % 3,350,980 0.16%
$ 92,823,036 2.~7%
$ 67,233,5~2 3.16%
104
CITY OF COLLEYVILLE, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
TABLE 8
Collected With the
Taies Le~-ied Fiscal Year of the Le~-~ Collecrions Total Collections to Date
Fiscal far the Percentage in Subseqt~ent Percentage
Year Ended Fiscal Year Amoi~nt of Levv Years Ainount of Le~-v
2002 $ 7,399,976 $ 7,325,976 98.3% $ 68,108 $ 7,;9~,084 9992%
2003 8,23;,543 8,1~1208 98.8% 79,096 8230,304 9996%
200~ 8,719,~4~ 8,632250 99.2% 8~,312 8,716,~62 99.97%
2005 9,201,770 9,109,752 99.1% 87,868 9,197,620 99.95%
2006 9,981,646 9,906,769 99.2% 70J82 9,977,~51 9996%
2007 10,725,345 10,~92222 98.8% 126,212 10,718,~34 999~%
2008 12,02~,882 1L903,333 99.0% 107,2~1 12,010,~74 99.88%
2009 12,875,919 12,73~,871 98.9% 118,6ll 12,8~3,~82 99.8;%
2010 13,351922 13,166,515 98.6% 122,273 13288,788 99.53%
20ll 13,18i,932 13,063,575 99.1% - 13,063,~75 99.09%
Sources: Tai7ant Count~- Appraisal DisU-ict and Ci~~ of Colleyville Finance Departinent.
105
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL WATER CUSTOMERS
CURRENT YEAR AND NINE YEARS AGO
TABLE 9
20ll 2002
Percentage Percentage
of Total Citv of Total Cin-
Water Water Water Water
Talpa~-er Usage Usage Usage Usage
Grape~-ine-Colley~~ille ISD ~0,102,700 2.09% 3~,958,200 1J1%
To~~nCe~~ter 11,122,300 0.~6% - - %
Lifetime Fitness 10,930,700 0.~6% - - %
Marliet Street 9,8~8,500 0.~1% - - %
Bh~eboiuiet Hills 6,075,800 0.25% - - %
Shado~ti~ood Trail 5,882200 0.2~% ~,279,000 0.20%
Woodland Hills 5,~35,300 0.23% 3,57~,000 0.17%
Westmont 5,215,000 0.22% - - %
Timarron ~,78> >00 0.20% - - %
Higliland Meado~ti~s HOA 4J10,700 0.20% 3.~28,200 0.16%
Broi~ghton Maint Assoc 3,9~3200 0.16% - -%
First Baptist Chnrch 3,838,200 0.16% - -%
Pebble Hill 3,390 >00 0.1~% - - %
Oal~ Point HOA 3,348,~00 0.1~% - -%
Monterra 3,329,800 0.1~% - - %
La Hacienda Ranch 3,10~,~00 0.13% ~,962,300 0.2-~%
WashDepot 3,033,700 0.13% ~25~,~00 0.20%
Saddlebrool~ HOA 2,875,000 0.12% - - %
Rio Mambo 2,~86,900 0.10% - - %
Albertsons (Glade Rd) 2277,900 0.09% 5,828,600 0.28%
Total 1~5,7~6,700 6.07% 62,28~,700 297%
Source: Cin- ntilin- billing records
106
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
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 2.32% 1,282
2011 11,510,000 8,271,278 972,170 3,600,000 1,550,000 - 25,903,448 1.71% 1,133
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.
107
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~-ing Principal Total Propert~- Capita
2002 $ 15,315,000 $ 962,363 $ 14,352,637 0.68% $ 723
2003 13,820.000 L02~,530 12,794,470 0.5~% 635
2004 12,925,000 995,889 11,929,111 0.46% 582
2005 11,95~,000 989,618 10,965,382 0.41% 522
2006 10,665,000 1,082,681 9,~82,319 0.33% 442
2007 17,770,000 L25~.686 16,~ 15,314 0.53% 746
2008 16,27~,000 987,681 15,287.319 0.50% 679
2009 14,66~,000 1,121,567 13,5~3,433 0.4~% 601
2OlO 1~,~00,000 1,1J4,~7O 12,14J,4~O 0.~9% J~~
2011 11,~10.000 L188,907 10,321,093 0.33% ~51
Notes:
Details regarding the Cit~r's outstanding debt can be found in the notes to the fuiancial statements.
See Table 5 for propert5 value data.
Population data can be found ui Table 14.
108
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
AS OF SEPTEMBER 30, 2011
Go~ enunent Uiut
Debt repaid i~ ith propei~ taaes
Bird~ ille Independent School District
Carroll Independent School Dishict
Grape`ine-Colleyville Indepeudent School District
Hnrst-Enless-Bedford Independent School District
Keller Independent School District
Tairant Coi~nn
Tairant Coi~nn College Disriict
Tai7ant Connt~- Hospital District
Si~btotal o~-erlapping deUt
Cit~~ direct debt
Total direct and o~, erlapping debt
$ 1~3,9~3,939
Sources: Assessed ~~alue data i~sed to estiinate applicable percentages pro~-ided b~- the Tai7ant Coi~nn- Appraisal Disnict
aud debt ot~tstanding data provided bti each go~-ei7unental uiut.
TABLE 12
Estimated
Share of
Estimated Direct and
Debt Percentage O~~erlapping
Oi~tstandina Applicable Debt
$ 227,199,»7 0.080% $ 181,760
249J 10,039 0.~90% 1,223,~79
338,~49,287 2L650% 73,27~271
323,966,880 L580% 5,118,677
712,856J53 2.890% 20,601,560
33~,050,000 3.070% 10,286,035
29,780,000 3.070% 91~,2~6
27,160,000 ~.070% 833,812
112,~;3,939
11,510,000 100.000% 11,510,000
109
THIS PAGE INTENTIONALLY LEFT BLANK
ilo
CITY OF COLLEYVILLE, TEXAS
LEGAL DEBT MARGIN INFORMATION
LAST TEN FISCAL YEARS
Legal Debt Margin Calculation for Fiscal Year 2011
TABLE 13
Assessed value $ 3,756,177,552
Debt limit (.2.5% of assessed value) 93,904,439
Debt applicable to limit:
General obligation bonds 11,510,000
Less: Amount set aside for
repayment of general
obligation debt 1,188,907
Total net debt applicable to limit 12,698,907
$ 81,205,532
Legal debt margin
Fiscal Year
2002 2003 2004 2005 2006 2007 2008 2009 2010
2011
Debtlimit $ 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 $ 81,205,532
Total net debt applicable to limi 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 11,510,000
Legaldebtmargin $ 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 $ 69,695,532
Total net debt applicable to the limit
as a percentage of debt limit. 28.84% 23.35% 20.04% 18.09% 13.34% 20.40% 17.98% 18.25% 16.69% 14.17%
NOtO:
Under state finance law, the City's outstanding general obligation debt should not exceed 2.50 percent of total assessed properry value.
111
CITY OF COLLEYVILLE, TEXAS
PLEDGED REVENUE COVERAGE
LAST TEN FISCAL YEARS
Water Re~~°ern~e Bonds
Utilit~r Less: Net
Fiscal Sei~-ice Operating A~-ailable Debt Sei~~ice
Year Charges Expenses Re~-em~e Principal Interest Co~-erage
2002 $ 8,~07,033 $ 5,909,8~8 $ 2,~97,185 $ 597,000 $~85,98~ $ 1,~1~201
2003 8,8=~0,900 6,~~=~,=~8~ 2,396,~16 622,000 ~57,1=~3 1,317,273
200~ 8,92~,9~2 6,ll7,278 2,807,66~ 680,000 ~06,;06 1,721,358
2005 10,198,7;3 7,2~1,998 2,9=~6,7;5 765,000 361,976 L819J59
2006 13,136,~76 8,067,~65 ~,068,911 795,000 329,~51 3,9~~,~60
2007 10,0~6,030 8,0=~0,621 2,005,~09 82~,000 296,5=~6 883,863
2008 11,452,268 9,670.881 1J81,387 700,000 265,6~8 81~J29
2009 11,~~8,282 8,9~3,80; 2,51~,~79 6~0,000 2~1,223 1,63;,256
2010 11,~27,07~ 9,~58,355 1,968,719 680,000 213,358 1,07~,361
2011 1=~,391,910 10,120,678 ~,271,232 920,000 57,819 3,293,~13
Notes:
Details regarding the Cin-°'s ontstanding deUt can be fonnd in the notes to the financial statements. Operating
e~penses do not include interest, depreciation, or amortization eipenses.
112
TABLE 1~
Drainage Re~~enue Bonds
Drainage Drainage Net
Sei~ ice Operations A~ ailable Debt Sei~ ice
Charges Expenses Re~ em~e Principal Interest Coverage
$ 615,099 $ 256,866 $ 3~8233 $ 205,115 $ 8~,~50 $ 67,~68
70~,031 235,105 ~68926 1=~0,000 1~~,~17 18=~,509
69~,196 312235 381961 1~0,000 122,263 119,698
710,26~ 338,;10 371,9~5 175,000 116,~32 80,~2 ~
897,606 ~~~J00 =~52,906 1~0,000 111252 191,65~
922,123 =~62,387 ~59,736 160,000 10~,206 355,530
902,232 ~10.259 391,973 16~,000 96,98~ 29~,989
889,163 ~00,677 388,~86 170,000 90,138 298,3~8
899,870 ~8~J12 ~15,158 175,000 82,930 332,228
905271 5~1,0~9 354,222 152,163 58,979 2952=~3
Sales Tai Bonds
Sales Taa Debt Sei~~ice
Increment Principal Interest Coverage
$ 881,921 $ 170,000 $ ~33,066 $ 178,8~5
768,846 185,000 ~19,114 164,732
873,626 19~,000 406,~72 272,1~~
982,8~~ 210,000 387,08~ 38~,7~9
1,132,09~ 2~0,000 ~02,929 ~89,165
1208,379 255,000 391,366 562,013
1,300260 270,000 380,01 ~ 650,2~7
1,26~, ~8~ 27~,000 368,19~ 621,190
1,317,161 290,000 3~6,290 670,871
1,319,517 300,000 3~~,195 675,322
113
CITY OF COLLEYVILLE, TEXAS
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
TABLE 1~
Tai7ant
Per Capita Count~-
Calendar Personal Personal Uneinplo~-inent
Year Population Incoine Incoine Rate
2002 19,8J0 $ 1~1,6~8 $ J0,~78 6.1%
2003 20,150 1~7,414 ~2,297 6.3%
2004 20,500 161,09~ 53,520 5.6%
200~ 2L000 165,008 54,820 ~.1%
2006 21,700 167,009 ~~,485 4.5%
2007 22,150 175,008 58.1~2 4.3%
2008 22,~00 173,853 57,758 5.1%
2009 22,~50 166,063 ~5,170 82%
2010 22,807 166,06~ JJ,~54 7.9%
2011 22,860 201,~~7 66,2~6 8.~%
Sources: Popi~larion - Noith Cennal Teias Coi~ncil of Govennnents, personal income - Cit~° of Colleyti~ille
Economic De~Telopment Deparrinent Unemplo~°ment Rate - Te~as Worl~orce Commission
(miemplo~-ment rate is uot a~, ailable solely for the Cin of Colley~, ille)
114
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
TABLE 16
2011 2002
Percentage Percentage
of Total Cin of Total Cin~
Employ~er Emplotiees Emplotiiiient Employ~ees Employment*
Grape~-ine Colley~~~ille ISD 698 13.5% 720 -%
Marliet Street 369 7.1% - - %
Lifetiine Fitness 230 4.~% - - %
Cin~ of Collev~-ille 192 3.7% 162 -%
K~oger - - % 150 - %
Co~ enant Cluistian Academ~ 107 2.1% - -%
TGW Insurance 95 L8% - - %
Albertsons 80 1.5% 200 - %
LaHacienda Ranch 75 L5% 100 -%
Sonslune Academy 60 1.2% ~0 - %
Mac's Steal~ and Seafood 6~ L2% 93 -%
Compass Cln-istian Chi~rch 50 1.0% - -%
Michael's Ke~°s 50 LO% - - %
Total 1,003 2-~.0% 745 - %
Soiuce: Cin Economic De~ elopment Di~ ision
*Tlus infonnation is i~navailable.
115
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 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
General government
Management services 6 6 6 6 6 5 5 4 4 4
Finance/court 6 7 7 7 7 6 6 6 6 6
Planning 5 5 3 3 3 3 3 3 2 2
Building 5 5 5 5 5 5 6 6 5 4
Other 4 3 4 5 5 6 6.5 7.5 9.5 11
Police
Officers 30 30 30 31 32 35 37 38 38 38
Civilians 10 10 10 10 11 13 14 14 13 6
Fire
Firefighters and officers 30 30 30 33 33 33 33 33 33 33
Civilians 1 1 1 1 1 1 1 1 2 1
Other public warks
Engineering 6 6 5 5 5 5 5 5 4 4.5
Other 3 3 3 3 3 3 3 3 3 3
Streets 10.5 10 10 10 10 10 10 10 10 10
Parks and recreation 12.5 12.5 12.5 12.5 12.5 13.5 13.5 13.5 16.5 16
Library - 5.5 5.5 5.5 5.5 7.5 8.0 8.0 9.5 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 22.5 25.5 25.5 28 29 29 29 28 24
Drainage 3.5 4 4 6 6 6 6 6 6 6
Total 158.5 165.0 166.0 173.0 177.5 185.5 190.5 191.5 194.0 182.6
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.
116
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
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
135 132 275 245 270 140 131 90 77 104
4,536 5,011 7,401 8,734 9,599 8,941 8,108 5,641 6,149 6,737
700 643 643 404 485 666 514 809 764 666
11,784 11,407 11,407 10,668 10,546 17,629 15,292 23,480 12,242 27,254
8,636 7,806 7,806 7,311 11,218 12,438 15,621 12,550 13,822 11,354
622 629 629 510 656 715 681 737 762 830
545 559 559 609 589 630 667 693 751 765
350 750 750 560 312 503 666 796 784 397
1 1 2 3 3 4.5 8.5 13.9 8.0 6.2
675 668 685 690 602 4,960 5,159 4,617 4,296 4,378
669 737 614 580 637 592 627 507 373 410
- 21,757 22,334 34,656 43,378 46,311 50,348 54,659 58,147 62,997
- 17,933 102,165 139,130 177,087 197,712 211,674 238,459 244,458 235,238
7,643 7,781 8,067 8,271 8,561 8,700 8,893 8,960 9,014 9,103
4,340 5,321 4,964 5,951 8,081 5,123 6,619 6,578 5,990 7,928
12,184 15,123 13,204 16,126 16,732 13,068 16,764 16,674 18,207 18,935
6,972 7,112 7,294 7,563 7,761 7,966 8,138 8,315 8,389 8,457
117
CITY OF COLLEYVILLE, TEXAS
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Fiscal Year
TABLE 19
Function/Program 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Police
Stations 1 1 1 1 1 1 1 1 1 1
Patrol units 6 6 7 7 7 10 13 13 13 13
Fire
Stations 2 2 2 2 2 2 3 3 3 3
Public works
Streets (miles) 264 288 295 300 307 311 312 312 318 282
Streetlights 740 745 751 860 990 1,011 1,010 1,168 1,188 1,169
Traffic signals 1 2 2 2 2 2 2 2 2 2
Parks and recreation
Acreage 207 207 207 212 212 224 224 224 224 224
Playgrounds 5 5 5 5 5 6 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) 150 152 170 173 175 191 192 199 200 195
Firehydrants 890 940 1,108 1,149 1,206 1,254 1,271 1,340 1,345 1,362
Storage capacity 4,900 4,900 4,900 4,900 4,900 4,900 4,900 9,900 9,900 9,400
(thousands of gallons)
Wastewater
Sanitary sewers (miles) 130 133 147 150 154 163 164 166 170 162
Storm sewers (miles) 54 55 56 57 58 59 59 63 63 58
Source: Various Cit7 departments
Note: No capital asset indicators are available for the general government or library function
118
COMPLIANCE
119
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120
~,~
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
GOVERNMENT A UDITING S'TANDARDS'
To the Honorable Mayor and
Members of the City Council
City of Colleyville, Texas
We have audited the financial stateinents of the governmental activities, the business-type
activities, the discretely presented component unit, each major fund, and the aggregate remaining fund
inforination of City of Colleyville, Texas (the "City") as of and for the year ended September 30, 2011,
which collectively coinprise the City's basic financial stateinents and have issued our report thereon
dated January 24, 2012. We conducted our audit in accordance with auditing standards generally
accepted in the Ui7ited States of America and the stai7dards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States.
Internal Control Over Financial Reporting
In plam7ing and perforining our audit, we considered the City's interi7al control over financial
reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on
the financial statemei7ts, but not for the purpose of expressing ai7 opiiuon 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 deficie~rcy irz irzteNr~al corzt~•ol exists when the design or operation of a control does not allow
mai7ageinent or einployees, in the normal course of performing their assigned functions, to prevent, or
detect and correct misstatements on a timely basis. A n~atet•ial ~~~ecrkness~ is a deficiency, or a
combination of deficiencies, in internal control such that there is a reasonable possibility that a inaterial
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 limited 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
weala7esses. We did not identify any deficiencies in internal control over financial reporting that we
consider to be material wealcnesses, as defined above.
121
~}O1 ~'EST HIGH~'~I" 6~ P. O. BOS 2072~ ~~'aCO, T'S 76702-072~ ~(2~4) 772-~901~ F_~Z: (2~~) 772-4920 ~ ~~w~x~.pbhcpn.com
~FFILI~TE OFFICES: BRO~NS~~ILLE, TY (9~6) ~4~-7775 ~ HILLSBORO, TY (2~~) ~82-2~83
TE~IPLE, TZ (2~4) 791-3-~60 ^~LBUQUEKQUE, Nn~1 (~0~ ) 266-~90~
Comuliance and Other Matters
As part of obtaining reasonable assurance about whether the City's financial statements are free
of material misstatement, we performed tests of its compliance with certain provisions of laws,
regulations, contracts, and grant agreements, noncompliance with wluch could have a direct and material
effect on the determination of financial statement amounts. However, providing an opii7ioi7 on
coinpliance 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 noncoinpliance or other matters that
are required to be reported under Uo>>e~j~znzefitAzrd~tij~lg Star~dards.
This report is intei7ded solely for the information and use of managemeilt, 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 24, 2012
122