HomeMy WebLinkAbout2015 Comprehensive Annual Financial ReportCITY OF
COLLEYVILLE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2015
Prepared by
Finance Department
Brian Hogan
Chief Financial Officer
Karen Hines
Accounting Manager
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
YEAR ENDED SEPTEMBER 30, 2015
INTRODUCTORY SECTION
Page
Number
Letter of Transmittal .. . .. . .. . . . . .. . .. . . . .. .. .. .. .. .. .. .. .... .. ...... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . ... ... . . .. . . . . . . .. .. 3 - 6
Organizational Chart........................................................................................................... 7
Certificate of Achievement................................................................................................. 8
Principal Officials . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .. . . .. . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . .. . . . . . . .. . ... . . . . . .. . .. . . . . 9
FINANCIAL SECTION
Independent Auditors' Report ............................................................................................ .
Management's Discussion and Analysis ........................................................................... .
Basic Financial Statements
Statement of Net Position ............................................................................................... .
Statement of Activities .................................................................................................... .
Balance Sheet -Governrnental Funds ............................................................................ .
Statement of Revenues, Expenditures and Changes in
Fund Balances -Governrnental Funds ........................................................................ .
Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balance of Governmental Funds to the
Statement of Activities ................................................................................................. .
Statement of Revenues, Expenditures and Changes in
Fund Balances -Budget and Actual -General Fund .................................................. .
13 -15
19-28
30-31
32-33
34-35
36-37
39
41
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2015
FINANCIAL SECTION (Continued)
Basic Financial Statements (Continued)
Statement of Net Position-Proprietary Funds ............................................................... .
Statement of Revenues, Expenses and Changes in
Fund Net Position -Proprietary Funds ........................................................................ .
Statement of Cash Flows -Proprietary Funds ................................................................ .
Statement of Fiduciary Net Position-Fiduciary Funds ................................................. .
Notes to the Financial Statements ................................................................................... .
Required Supplementary Information
Page
Number
42
43
44-45
46
47-74
Schedule of Changes in Net Pension Liability and Related Ratios................................. 76
Schedule of Contributions................................................................................................ 77
Nonmajor Governmental Funds
Combining Balance Sheet ............................................................................................... . 80-85
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances ........................................................................................... . 86-91
Schedule of Revenues, Expenditures and Changes in
Fund Balance -Budget and Actual -Debt Service Fund ........................................... . 93
Agency Funds
Combining Statement of Fiduciary Net Position............................................................. 96
Combining Statement of Changes in Assets and Liabilities............................................ 97
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2015
STATISTICAL SECTION (Unaudited)
Net Position by Component ................................................................... .
Changes in Net Position ......................................................................... .
Fund Balances -Governmental Funds .................................................. .
Changes in Fund Balances -Governmental Funds ............................... .
Assessed Value and Estimated Actual Value
of Taxable Property ............................................................................. .
Direct and Overlapping Property Tax Rates ......................................... ..
Principal Property Taxpayers ................................................................. .
Property Tax Levies and Collections ..................................................... .
Principal Water Customers .................................................................... .
Ratios of Outstanding Debt by Type ..................................................... .
Ratios of General Bonded Debt Outstanding ........................................ ..
Direct and Overlapping Governmental Activities Debt.. ...................... ..
Legal Debt Margin Information ............................................................. .
Pledged Revenue Coverage ................................................................... .
Demographic and Economic Statistics .................................................. .
Principal Employers ............................................................................... .
Fulltime Equivalent City Government Employees by
Function/Program ............................................................................... .
Operating Indicators by Function/Program ........................................... .
Capital Asset Statistics by Function/Program ....................................... ..
Exhibitff able
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Page
Number
100-101
102-105
107
108 -109
110
111
112
113
114
115
116
117
119
120-121
122
123
124
125
126
COMPLIANCE
CITY OF COLLEYVILLE, TEXAS
TABLE OF CONTENTS
(Continued)
YEAR ENDED SEPTEMBER 30, 2015
Independent Auditors' Report on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an
Audit of Financial Statements Performed in Accordance with
Government Auditing Standards ..................................................................................... .
Independent Auditors' Report on Compliance for Each Major
Program and on Internal Control over Compliance Required by
OMB Circular A-133 ...................................................................................................... .
Schedule of Expenditures of Federal Awards .................................................................... .
Notes to Schedule of Expenditures of Federal Awards ..................................................... .
Schedule of Findings and Questioned Costs ...................................................................... .
Summary Schedule of Prior Audit Findings ...................................................................... .
Pa g e
N umb er
129-130
131-132
133
134
135
136
INTRODUCTORY SECTION
1
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2
PROFILE OF THE GOVERNMENT
On January 10, 1956, the City of Colleyville was incorporated and adopted a home-rule charter on
January 15, 1977. It has a Council-Manager form of government with policy making and legislative
authority vested in a governing body consisting of a Mayor and six Council members. The Mayor and
Council are responsible for passing ordinances, adopting the budget, appointing board and committee
members, and hiring the City Manager. The City Manager is responsible for carrying out the policies
and ordinances of the Mayor and Council, overseeing the day-to-day operations of the City, and
appointing department heads. The Mayor and six Council members are elected on an at large, non-
partisan basis for three year terms. The three year terms are staggered so that the Mayor and City
Council persons from Place 1 and 2 are elected in year one, City Council persons from Places 3 and 4
are elected in year two, and City Council persons from Places 5 and 6 are elected in year three.
The City provides a full range of municipal services. These services include police and fire protection,
municipal court, streets, drainage utility, leisure services (parks and recreation, Colleyville Center and
library), water and sewer, engineering/community development, and general administrative services.
Based upon the criterion set forth in generally accepted accounting principles, the following
organizations are includable within the City's reporting entity:
Entity
Colleyville Economic Development Corporation (CEDC)
Colleyville Crime Control and Prevention District
Colleyville Tax Investment Financing Reinvestment Zone
Zone Number One (TIF)
Method of Inclusion
Blended
Blended
Discretely Presented
The City Charter of the City of Colleyville establishes the fiscal year as October 1 through September
30. The Charter requires the City Manager to submit a proposed budget and accompanying budget
message to the City Council each year and the proposed budget is presented to the City Council at a
budget work session. After public hearings at two consecutive regular City Council meetings, the
Council may adopt the proposed budget, with or without amendment. The budget ordinance is to be
adopted no later than the 30th day of September and requires an affirmative vote of a majority of the
Council. The City maintains budgetary control by adopting an annual operating budget for the General
Fund, Debt Service Fund, Drainage Utility Fund, and Water and Sewer Enterprise Fund. Detail control
is maintained at the line item level by encumbering available funds at the time a purchase order is
written. Encumbrances lapse at fiscal year-end, but can be re-appropriated through a budget amendment
during the following fiscal year. The City Manager is authorized to transfer budgeted amounts between
departments within any fund. However, any revisions that alter the total expenditures of any fund must
be approved by the City Council.
LOCAL ECONOMY
The City of Colleyville is a residential-oriented community located 11 miles northeast of the City of Fort
Worth, 22 miles northwest of Dallas and 5 miles west of Dallas/Fort Worth International Airport in
Northeast Tarrant County. Relocations of residents to the City continued in fiscal year 2015, as did
commercial development. During the fiscal year, the City issued 181 residential building permits and the
average square footage of a residence was almost five thousand square feet. The City also issued 105
certificates of occupancy for new, remodeled, and expanding businesses. The City's strong economy
supports a 94% occupancy rate of existing retail and office spaces.
4
In fiscal year 2015, two multi-tenant retail centers were completed. Both projects continue to bring new
tenants and sales tax dollars to Colleyville.
• Colleyville Downs, a 200,910 square foot Class "A" multi-tenant retail property anchored by
Whole Foods, Petco, and Ace Hardware, added an outparcel pad site in 2015 that is shared by a
Zoes Kitchen and Snuffer's Restaurant and Bar.
• Colleyville Stampede includes 12,84 7 square feet of new retail and restaurant space.
Transportation projects completed in fiscal year 2015 include the roundabout at the Jackson Road and
Cheek-Sparger Road intersection, the Kingston Addition street rehabilitation project, and three quiet
zone grade crossings of the Cotton Belt railroad at John McCain, Bransford, and Pleasant Run roads.
Transportation projects in progress at the end of fiscal year 2015 are State Highway/Colleyville
Boulevard (final construction of Phase 1 and final design of Phases II and III), Pleasant Run Road street
reconstruction and trail improvements, and final design for Phase I of Glade Road.
Destination Colleyville, an update to the City's comprehensive master plan, was adopted on December
15, 2015. The plan provides a common vision and goals for economic stability, transportation, housing
and neighborhoods, City services and facilities, future land use, and character and placemaking.
For the Future. In fiscal year 2016, scheduled major transportation projects include construction for
Phases II and III of State Highway 26/Colleyville Boulevard, and Glade Road (completion of Phase I
and design work for Phases II, III, and IV).
LONG TERM FINANCIAL PLANNING
In Fiscal Year 2005, the City Council adopted a Fund Balance Policy requiring a ninety day reserve for
fund balance in both the General Fund and the Utility Fund. In fiscal year 2011, the policy was updated
to reflect the designations of non-spendable, restricted, committed, assigned and unassigned as required
by GASB 54 and was reviewed for update in fiscal year 2015. At the end of fiscal year 2015, both the
General Fund and the Utility Fund have a fund balance in excess of the required ninety day reserve.
Amount in excess of the reserve may be used to fund one-time capital expenditures.
In Fiscal Year 2014, the City Council adopted the City's Strategy Map, which incorporated focus areas
that had been present in prior strategic plans dating back to 2010. The four focus areas are:
• Protect and Preserve Colleyville Neighborhoods
• Provide Sustainable Government
• Encourage Economic Development
• Provide Core Services
There are four perspectives from which to view, and address, the focus areas:
• Leaming and Growth
• Financial Stewardship
• Business Management
• Customer Service
Each perspective is represented by a tier on the Strategy Map and contains objectives that must be
achieved to ensure we are ultimately delivering on our focus areas. Input from the biennial citizen
survey, biennial employee survey, and the City Council was used to select objectives included on the
Strategy Map.
5
In fiscal year 2015, departments created Business Plans, which identify their core services, as well as
strengths and opportunities for each. Each core service is also linked to one or more objectives on the
City's Strategy Map, providing linkages and responsibility for furthering the City's goals. Department
business plans are updated in advance of, and ultimately drive, all budget requests. The future outlook
section of the Business Plans ensures that staff is constantly monitoring needs and trends on the horizon.
As a part of the annual budget process, an updated five-year forecast for operating funds is presented to
City Council at the first of two budget work sessions. The budget process also includes an annual update
of the five-year capital improvements program (CIP). Improving the process each year, the CIP now
includes specific street projects to be completed as opposed to a single project budget for all street
maintenance that does not specifically identify streets to be improved. In Fiscal Year 2015, the City's
Water and Wastewater Master Plan was updated and identifies future utility projects that are needed,
which will be prioritized and scheduled in future CIPs. The City updated the water/waste water rate
schedule in July of 2015 in order to provide resources for reinvestment into the system.
A WARDS AND ACKNOWLEDGEMENTS
Awards. The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Colleyville for
its comprehensive annual financial report for the fiscal year ended September 30, 2014. This was the
twenty fifth consecutive year that the City has received this prestigious award. In order to be awarded a
Certificate of Achievement, a government must publish an easily readable and efficiently organized
comprehensive annual financial report. This report must satisfy both generally accepted accounting
principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report continues to meet the Certificate of Achievement Program's
requirements and we are submitting it to GFOA to determine its eligibility for another certificate.
In addition, the City also received the GFOA's Distinguished Budget Presentation award for its annual
budget dated October 1, 2014. In order to qualify for this award, the City's budget document was judged
to be proficient in several categories, including as a policy document, a financial plan, an operations guide,
and a communications device.
Acknowledgements.:. The preparation of this report could not be accomplished on a timely basis without
the dedicated endeavors of the entire staff of the Finance Department. 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 Manager for their support in planning and conducting the
financial operations of the City in a responsible and progressive manner.
Respectfully submitted,
B~,CGFO
hief Financial Officer
L/()~
Karen Hines
Accounting Manager
6
PARKS AND PLANNING AND RECREATION
I ZONING ADVISORY LIBRARY
COMMISSION BOARD BOARD
L I I
1 I I
COLLEYVILLE ZONING SIGN
ECONOMIC BOARD OF BOARD OF
DEVELOPMENT ADJUSTMENT APPEALS
CORPORATION - -
COMMUNICATIONS ._ DIRECTOR ~ MARKETING IJ Mona Gandy
L
CHIEF FINANCIAL
H '--OFFICER
Brian Hogan
L.__ -
HUMAN RESOURCES I
1--DIRECTOR JJ
Rachel Huitt
STRATEGIC SERVICES ..._
MANAGER ,_
Adrienne Lathery
I
C\TY 0/:' ~
COLLEYVILLE
1'cx/\s
UTILI1Y BILLING
MUNICIPAL COURT
COLLEYVILLE
CENTER MANAGER
Leslie Hill
CITIZENS OF COLLEYVILLE l
I
CllY CRIME CONTROL
AD HOC AND PREVENTION COUNCIL DISTRICT COMMITTEES BOARD
I'
I
I
'
CITY ATTORNEY CilY MANAGER MUNICIPAL COURT
Matthew Boyle Jennifer Fadden JUDGE
Sara Jane de/ Carmen
I
I
DEPUTY CilY MANAGER
H
1--
I--
..._
,_
j
Chris Fuller
-I
CI1Y SECRETARY
Amy Shelley
~
COMMUNI1Y
DEVELOPMENT BUILDING
DIRECTOR -INSPECTION
Abra Nusser PLANNING
ECONOMIC
DEVELOPMENT I r GIS DIRECTOR
Marty Wieder
~--
LIBRARY AND ~ RECREATION DIRECTOR SENIOR
Mary Rodne CENTER
SH 26 PROJECT COORDINATOR
James Hubbard
PUBLIC V :ECTOR I J 'eremyHutt
ENGINEERING
CONSTRUCTION MANAGEMENT & INSPECTION
WATER AND WASTEWATER OPERATIONS
STREET MAINTENANCE
DRAINAGE
BUILDING MAINTENANCE
FLEET MAINTENANCE
7
j
TAX INCREMENT COLLEYVILLE
FINANCING CENTER
DISTRICT BOARD ADVISORY
BOARD
I 1
T
EVENTS HISTORICAL
STEERING PRESERVATION
COMMITTEE COMMITTEE
j
ASSISTANT CITY MANAGER/
DIRECTOR OF PUBLIC SAFETY
Mike Holder
-
PATROL
INVESTIGATIONS ....___
CODE ENFORCEMENT
PARKS MANAGER
Heather Dowell I-
~ INFORMATION
SERVICES MANAGER I-
Chris Pena
FIRE CHIEF
Brian Riley
,____
I
FIRE/EMS OPERATIONS
INSPECTIONS
INVESTIGATIONS
EMERGENCY MANAGEMENT
Effective 1/4/16
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Colleyville
Texas
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2014
Executive Director/CEO
8
CITY OF COLLEYVILLE, TEXAS
HOME RULE, COUNCIL -MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 2015
David Kelly
Mayor
Carol Wollin
Councilmember, Place 1
Chuck Mogged
Councilmember, Place 2
Chris Putnam
Councilmember, Place 3
Jody Short
Councilmember, Place 4
Nancy Coplen
Councilmember, Place 5
Mike Taylor
Mayor Pro Tern and
Councilmember, Place 6
Jennifer Fadden
City Manager
Brian Hogan
Chief Financial Officer
Karen Hines
Accounting Manager
9
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10
FINANCIAL SECTION
11
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12
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor's judgment,
including the assessment of the risks of material misstatement of the financial statements, whether due to
fraud or error. In making those risk assessments, the auditor considers internal control relevant to the
entity's preparation and fair presentation of the financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business-type activities, the discretely
presented component unit, each major fund, and the aggregate remaining fund information of the City of
Colleyville, Texas, as of September 30, 2015, and the respective changes in financial position, and,
where applicable, cash flows thereof and the respective budgetary comparison for the General Fund, for
the year then ended in accordance with accounting principles generally accepted in the United States of
America.
Change in Accounting Principle
As discussed in Note I to the financial statements, in 2015 the City adopted new accounting
guidance, Governmental Account Standards (GASB) Statement No. 68, Accounting and Financial
Reporting for Pensions-an amendment of GASB Statement No. 27 and Governmental Account
Standards (GASB) Statement No. 71, Pension Transition for Contributions Made Subsequent to the
Measurement Date-an amendment ofGASB Statement No. 68. Our opinion is not modified with respect
to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management's discussion and analysis, schedule of changes in net pension liability and related ratios and
schedule of contributions, on pages 19-28 and 76-77 be presented to supplement the basic financial
statements. Such information, although not a part of the basic financial statements, is required by the
Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. We have applied certain limited procedures to the required supplementary information in
accordance with auditing standards generally accepted in the United States of America, which consisted
of inquiries of management about the methods of preparing the information and comparing the
information for consistency with management's responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do
not express an opinion or provide any assurance on the information because the limited procedures do
not provide us with sufficient evidence to express an opinion or provide any assurance.
14
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16
MANAGEMENT'S
DISCUSSION AND ANALYSIS
17
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18
Management's Discussion and Analysis
As management of the City of Colleyville, we offer readers of the City's financial statement this
narrative overview and analysis of the financial activities of the City for the fiscal year ended September
30, 2015. We encourage readers to consider the information presented here in conjunction with
additional information that we have furnished in our letter of transmittal, which can be found on pages 3
- 6 of this report.
FINANCIAL HIGHLIGHTS
• The assets of the City of Colleyville exceeded its liabilities as of September 30, 2015,
by $199,166,837 (net position). Of this amount, $35,942,295 (unrestricted net
position) 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 position increased by $17,586,666 including pnor period
adjustment.
• As of the close of the current fiscal year, the City of Colleyville's governmental funds
reported combined ending fund balances of $37,042,913. Of this amount, $8,736,746
is unassigned fund balance available for use within the City's fund designation and
fiscal policies.
• As of September 30, 2015, unreserved, unassigned fund balance for the General Fund
was $8,736,746 or 43.1 % of the total General Fund expenditures.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City's basic financial
statements. The City's basic financial statements are comprised of three components: (1) government-
wide financial statements, (2) fund financial statements and (3) notes to the financial statements. This
report also contains other supplementary information in addition to the basic financial statements
themselves.
Government-wide financial statements -The government-wide financial statements, which begin on
page 30 of this report, are designed to provide readers with a broad overview of the City's finances, in a
manner similar to a private-sector business.
The Statement of Net Position presents information on all of the City's assets, liabilities, and deferred
inflows/outflows of resources, with the difference between the two reported as net position. Over time,
increases or decreases in net position may serve as a useful indicator of whether the financial position of
the City is improving or deteriorating.
19
The Statement of Activities presents information showing how the City's net position changed during
the fiscal year. All changes in net position are reported when the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows.
Thus, revenues and expenses are reported in this statement for some items that will only result in cash
flows in the future fiscal periods (e.g., uncollected taxes and earned but unused compensated absences).
Both of the government-wide financial statements distinguish functions of the City that are principally
supported by taxes and intergovernmental revenues (governmental activities) from functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-type
activities). The governmental activities of the City include General Government, Community
Development and Engineering, Fire and Rescue, Leisure Services, Maintenance, Municipal Court,
Police, and Streets and Drainage. The business-type activities of the City include Water and Wastewater,
and Drainage Utility.
Fund financial statements -A fund is a grouping of related accounts that is used to maintain control
over resources that have been segregated for specific activities or objectives. The City, like other state
and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements. All funds of the City can be divided into two categories -governmental funds and
proprietary funds.
Governmental Funds -Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government-wide financial statements. However, unlike the
government-wide financial statements, governmental fund financial statements focus on current sources
and uses of spendable resources, as well as on balances of spendable resources available at the end of
the fiscal year. Such information may be useful in evaluating a government's near-term financing
requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government-wide financial statements. By
doing so, readers may better understand the long-term impact of the government's near-term financing
decisions. Both the governmental funds balance sheet and the governmental fund statements of
revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this
comparison between governmental funds and governmental activities.
Beginning on page 34 of this report, information is presented separately in the Governmental Fund
Balance Sheet and in the Governmental Fund Statement of Revenues, Expenditures, and Changes in
Fund Balances for the General Fund, Capital Projects and Debt Service Fund, all of which are
considered to be major funds. Data from the other governmental funds are combined into a single,
aggregated presentation. Individual fund data for each of these non-major governmental funds is
provided in the form of combining statements elsewhere in this report.
Proprietary Funds -The City maintains one type of proprietary fund. Enterprise Funds are used to
report the same functions presented as business-type activities in the government-wide financial
statements. The City uses Enterprise Funds to account for the Water and Wastewater and Drainage
Utility Funds.
20
Proprietary funds provide the same type of information as the government-wide financial statements,
only in more detail. The basic proprietary fund financial statements which begin on page 42 of this
report provide separate information for the Water and Wastewater and Drainage Utility Enterprise Funds
since these are considered to be major funds of the City.
Notes to the Financial Statements -The notes provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements. The notes to
the financial statements can be found on pages 47 -74 of this report.
Other Information -In addition to the basic financial statements and accompanying notes, this report
also presents combining fund statements and schedules that further support the information in the
financial statements. The combining fund statements and schedules for nonmajor funds are presented
immediately following the notes to the financial statements beginning on page 80 of this report.
GOVERNMENTAL-WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of government's financial
position. In the case of the City of Colleyville, assets exceeded liabilities by $199 ,166,837 as of
September 30, 2015.
The largest portion of the City's net position ($143,782,311) reflects its investments in capital assets
(e.g., land, building, equipment, improvements, construction in progress and infrastructure), less any
outstanding debt used to acquire those assets. The City uses these capital assets to provide service to
citizens; consequently, these assets are not available for future spending. Although the City's investment
in its capital assets is reported net of related debt, it should be noted that the resources needed to repay
this debt must be provided from other sources, since the capital assets themselves cannot be used to
liquidate these liabilities.
Current and other assets
Capital assets
Total assets
Deferred outflow of resources
Total deferred outflow
of resourc es
Other liabiliti es
Long-term li abilities
Total liabilities
Net position :
Net investment in
cap ital assets
Restricted
Unrestricted
Total net position
$
CITY OF COLLEYVILLE'S NET POSITION
Governmental Activities
2015
42,899,632 $
11 3 ,463,038
156,362,670
325.573
325,573
3 ,937,454
13,668,452
17 ,605 ,906
98,958,693
19,442,231
20,681,413
2014
38 ,081 ,951 $
l 05, 718,089
143 ,800,040
3,511 ,944
15,102.680
18 ,614,624
89,754,051
17,500,426
17 ,930,939
Bu siness-typ e Activities Totals
2015 2014 2015 2014
17,075,594 $ 16,207,650 $ 59,975,226 $
46,323 ,327 43,861,991 159,786,365
63 ,398,921 60 ,0 69.64 1 219 ,761,591
142,715
142 ,715
2,247,804
1,209,332
3,457,136
44,823,618
15 ,260 ,882
116,835
116,835
2,100 ,979
J ,690,742
3,79 1,721
41,567,161
14,827,594
468 ,288
468,288
6,185 ,258
14 877,784
21,063,042
143,782,311
19,442,231
35 ,942,295
54,289,601
149 ,580,080
203,869,68 .1
116,835
116,835
5,612,923
16 ,793,422
22,406,345
131,321,212
17 ,500,426
32,758,533
$ 139,082,337 $ 125 ,185,416 $ 60,084,500 $ 56,394,755 $ 199,166,837 $ 181,580,171
21
A portion of the City's net position ($19,442,231) represents resources that are subject to external
restriction on how they may be used. The remaining balance ($35,942,295) of unrestricted net position
may be used to meet the City's ongoing obligation to citizens and creditors in accordance with the City's
fund designation and fiscal policies.
As of September 30, 2015, the City has positive balances in all three categories of net position, both for
the City as a whole, as well as for its governmental and business-type activities separately. The increase
of $9,545,509 in net position relating to governmental activities is primarily due to the acquisition of
infrastructure improvements from developer contributions, increases in cash due to increases in sales
tax, property tax, and building related revenues, and repayment of long term debt. The increase in net
position of business type activities $3,101,110 is related to the contributions of water and sewer
infrastructure improvements from developers, repayment of long term debt and from water sales, as a
tiered rate structure has been in place since December 2012, whereby customers who have monthly use
greater than 20,000 gallons pay higher rates in increasing tiers.
Analysis of the City's Operations -The following table provides a summary of the City's operations
for the year ended September 30, 2015. Governmental activities increased the City of Colleyville's net
position by $9,545,509. Business-type activities contributed an increase to the City's net position of
$3,101,110.
22
CITY OF COLLEYVILLE'S CHANGES IN NET POSITION
Governmental Activities Bus iness-type Activities Totals
2015 2014 2015 2 014 2015 2014
Revenues :
Program revenues:
Charges for services $ 4,787,351 $ 3,977,375 $ 16,748,728 $ 15,729,482 $ 21,536,079 $ 19,706,857
Operating grants
and contributions 450,559 486 ,869 450,559 486,869
Capital grants
and contributions 7,712,266 5,943,465 2,362,261 2,707,835 10,074,527 8,651,300
General revenues:
Ad valorem taxes 13,493,621 12,950,832 13,493 ,621 12,950,832
Sales taxes 6,705,914 6,472,195 6,705,914 6,472,195
Franchise taxes 2,319,723 2,172,801 2 ,319,723 2,172,801
Other taxes 107,977 98,160 107,977 98,160
Investment earnings 100,842 39,697 52,480 23,655 153,322 63,352
Miscellaneous 82,873 61,643 82,873 61,643
Gain on sale of
cap i tat assets 810,020 5,062 40,814 5,062 850.834
Total revenues 35,761,126 33,013 ,057 19,168 ,531 18 ,501 ,786 54,92 9,657 51,514,843
Expenses :
General government 4,676,185 4,103,928 4,676,185 4,103,928
Community development
and engineering 1,582,461 1,613 ,311 1,582,461 1,613,311
Fire and rescue 5,264,026 4,625 ,036 5,264,026 4,625,036
Leisure services 4,042,252 3,776,068 4,042,252 3,776,068
Maintenance 684,301 575,696 684,301 575,696
Municipal court 522,422 501,604 522,422 501,604
Police 5,681 ,698 5,019,343 5,681,698 5,019,343
Streets and drainage 4 ,404,701 4 ,128 ,365 4 ,404,701 4,128,365
Water and wastewater 14,055 ,232 13,238,893 14,055,232 13,238,893
Drainage 833 ,599 571 ,886 833,599 571,886
Interest on
long-term debt 536,161 717 ,045 536,161 717,045
Total expenses 27 ,394,207 25 ,060,396 14,888,831 13 ,810.779 42 ,283 ,038 38,871,175
Increases in net position
before transfers 8,366,919 7,952,661 4,279,700 4,691 ,007 12 ,646,619 12,643,668
Transfers 1,178,590 1,180,292 1,178 ,5 90) 1,180,292)
Change in net position 9,545,509 9,132,953 3,101,110 3,510,715 12 ,646,619 12,643,668
Net position, beginning 125,185,416 116 ,211 ,275 56,3 94,755 52,972,667 181 ,580,171 169,183 .942
Prior period adjustments 4,351.412 158 ,81 2 ) 588,635 88 ,62 7) 4 ,940,047 247,4 39)
Net position, ending $ 139,082,337 $ 125,185,416 $ 60,084,500 $ 56,394,755 $ 199,166 ,837 $ 181,580,171
FINANCIAL ANALYSIS OF THE GOVERNMENT'S FUNDS
Governmental funds -The focus of the City of Colleyville's governmental funds is to provide
information on near-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the City 's financing requirements. In particular, unassigned fund balance may serve
as a useful measure of a government's net resources available for spending at the end of the fiscal year.
23
At the end of the current fiscal year, the City of Colleyville's governmental funds reported combined
ending fund balances of $37,042,913. Approximately 24% of this total amount ($8,736,746) constitutes
unassigned fund balance. The remainder of the fund balance ($28,306,167) is reserved to indicate that it
is not available for new spending because it has already been committed to pay for encumbrances or
debt service or to provide for other items. Refer to page 34 and 35 of this report for a more detailed
presentation of governmental fund balances.
The decrease of approximately $1,344,000 in unrestricted fund balance in the governmental funds for
fiscal year 2015 is due to a number of the following factors. In the General Fund, the City's original
budgeted expenditures exceeded budgeted revenues by ($1,164,638). A one-time funding of $300,000 to
the Capital Projects Fund was budgeted for use on future capital projects. In addition, the adopted
budget provides a base level of $2,000,000 for street maintenance and rehabilitation and an additional
$1,000,000 through a strategic draw-down of the General Fund balance. This is a $600,000 increase
from fiscal year 2014 and will be used as a funding source in the comprehensive CIP plan to be
distributed among various projects based on relative priority. This planned utilization of fund balance in
the General Fund was included in the ten year financial forecast, and the fiscal year 2015 ending fund
balance is greater than the three month policy requirement. The actual decrease to fund balance for the
General Fund was $(1,343,021) for fiscal year 2015, primarily due to greater than anticipated revenues
from sales taxes, ambulance revenues, building permits, property taxes and reductions to overall
departmental expenditures. Also included was City Council approved authorization to provide for a
transfer of unspent street maintenance funds at the end of the fiscal year ($1,708,929) and the authorized
transfer of the difference in total revenues and expenditures of the General Fund to the Capital Projects
Fund ($4,265,677) for use in future CIP street rehabilitation projects that includes ($2,356,749) for
Colleyville Boulevard (SH26) enhancements. The aforementioned year end transfers to the Capital
Projects Fund resulted in a net increase of $1,649,254 to that fund balance, and will be used for future
street capital projects. As the aforementioned transfers from the General Fund to the Capital Projects
Fund were contained within funds that are in the governmental fund classification, there was not a major
increase or decrease reflected in the unrestricted total for governmental funds. Additionally, there was a
utilization of $152,666 of surplus fund balance in the adopted fiscal year 2015 Debt Service budget for
the third year lease payment on the radio tower and equipment, due to the current level of existing fund
balance and declining future debt obligations. The actual fiscal year 2015 decrease to fund balance for
the Debt Service Fund was ($72,980), due to greater than anticipated property tax collections.
Proprietary funds -The City's proprietary fund statements beginning on page 42 of this report provide
the same type of information found in the government-wide financial statements, but in more detail.
Unrestricted net position of the respective major proprietary funds are Water and Wastewater
($13,665,689), and Drainage Utility ($1,595,193). The Water and Wastewater Fund experienced an
increase in total net position of $3,003,713 during Fiscal Year 2015 due to revenue from the pass
through of the Trinity River Authority wastewater rate increase and the receipt of developer
contributions from the eight new subdivisions, which accounted for approximately $2.4 million. The
Drainage Utility fund's net position increased by $97,397, due to increased service charge revenue from
new accounts and reductions to expenditures.
24
Governmental Activities -There was an increase in revenues from sales tax due to improving
economic conditions and the capital grants category from increased developer contributions and impact
fees stemming from new development and the addition of eight subdivisions in Colleyville in fiscal year
2015. There was an increase in license and permit revenues due to an increase of 73 residential building
permits from fiscal year 2014 and additional commercial construction. The property tax base increased
approximately $124 million (4.8%), due to the new residential and commercial construction, and the
current year tax collection rate was over 99.56% of the levy.
In fiscal year 2013, there was a compensation and classification study performed. This resulted in a new
compensation structure that was implemented in fiscal year 2014. Employees earning below the new
minimum salary of their position's pay range received a market adjustment, not to exceed 10 percent, of
this new structure. Employees earning more than 10 percent below the new minimum salary will receive
the remainder of the adjustment over the next one to two fiscal years so that an individual's pay increase
does not exceed 10 percent in any given year. Fiscal year 2015 will fund year 2 of this 3 year program.
Also in fiscal year 2015, the City added several new positions including one police officer, three
firefighter/paramedics, and a temporary construction manager to serve through fiscal year 2019 as a
coordinator for the Colleyville Boulevard (SH26) project. Some positions were upgraded from part-time
to full-time positions including an administrative support position in the library, a records clerk in the
police department, and a maintenance and operations technician. Major capital equipment purchases
included five vehicles for the police department (crime control district), maintenance equipment for the
parks department, and new media equipment for the fire department training room.
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 $15,800,163 for
the fiscal year. Water revenues increased due to the Stage 1 water restrictions being lifted and an
increased usage during the summer months. Water usage during these months was billed at higher rates
per the tiered rate structure that was implemented to encourage conservation. Wastewater revenues
decreased compared to fiscal year 2014 due to an abnormally wet spring and overall decreased water
usage for the entire year. The coverage ratio for debt for this fund was 7.63 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.
Increases in the Water and Wastewater Fund expenses relate to the increase in cost of purchased water and
treatment of wastewater from Trinity River Authority. The Authority's rate increase relates to higher cost
for electricity, debt issuance for plant expansion, rehabilitation and replacement of system-wide aging
infrastructure, and compliance with federal water and wastewater mandates.
General Fund Budgetary Highlights -The City made revisions to the original appropriations
approved by the City Council, which resulted in an increase to the General Fund budget of $200,000 for
a transfer to the Capital Projects Fund for future expenditures for the SH 26 reconstruction. Also
included with this revision was a City Council adopted authorization to transfer unspent street
resurfacing appropriations to the Capital Projects fund and the difference between total revenues and
expenses for future street capital projects ($4,265,677). This transfer was funded primarily by the receipt
of higher than anticipated sales tax, permit revenues, property tax collections, inspection fees for the
eight new subdivisions, ambulance collections, and lower than anticipated expenditures due to unfilled
positions. This accounted for the variance in transfers out from the adopted budget.
25
The General Fund's overall budgeted revenue increased by $1,737,822. Major increases in General
Fund property taxes are due to the declining allocation of the interest and sinking fund rate (Debt
Service portion) to repayment of debt and an increase to the operations and maintenance portion of the
rate (General Fund portion), as the total tax rate was unchanged from the prior year. There was a
budgetary and actual increase in sales tax revenue due to improving economic conditions and continued
growth in commercial retail development. Also, revenue increases were derived from the transfer from
the Utility Fund for the administrative and franchise fee that is based upon water and wastewater sales.
Also included is the $1,000,000 drawdown of General Fund balance, which funded the increase in the
street overlay budget.
Refer to the General Fund Statement of Revenue, Expenditures and Changes in Fund Balances -Budget
and Actual on page 41 of this report for a detailed presentation of the actual General Fund operations
compared to both the original and final budget for fiscal year 2015.
CAPITAL ASSETS
The City of Colleyville' s investment in capital assets for its governmental and business-type activities as
of September 30, 2015, amounts to $159,786 ,365 (net of accumulated depreciation). This investment in
capital assets includes land, building, equipment, improvements other than buildings, infrastructure, and
construction work in progress . Major capital asset events occurring during the current fiscal year
included the following:
Land
• Capitalized almost $4.9 million in street improvements and developer contributions ,
primarily with the completion of eight new subdivisions.
• Capitalized approximately $2.4 million in water and wastewater system developer
contributions and,
• Capitalized approximately $335 ,000 in park improvements, including landscaping
and amenities for City Park.
CITY OF COLLEYVILLE'S CAPITAL ASSETS AT YEAR-END
Governmental Activities Business-type Activities Total'i
2015 2014 2015 2014 2015
$ 9,178,641 $ 9,178 ,641 $ 304,839 $ 304,839 $ 9,483,480 $
Buildings and improvements 46,882,488 46,132,834 53,922 53,922 46,936,410
Equipment 11,007,458 10 ,773,596 2,008,921 2,133,927 13,016,379
Infrastructure/water
2014
9,483,480
46,186,756
12,907,523
di<ltribution sewer collection 93,599,298 84,231,649 74,597,681 72 ,218,901 168,196,979 156,450,550
Construction in progress 5,122,642 3,831,697 3 ,773,157 1,715,997 8,895,799 5,547,694
Less: accumulated
depreciation 52,327,489) 48,430,328) 34,4 15,193 ) 32,565,595 ) 1!6, 742,682) 80,9 95,923)
Total capital assets $ 113,463,038 $ 105 ,718,089 $ 46,323,327 $ 43,861,991 $ 159,786,365 $ 149,580,080
Additional information on the City's capital assets can be found in Note 4, pages 61 -62 of this report.
26
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 $16 ,044 ,345. Of this amount, $6 ,920 ,000 represents bonded debt backed by
the full faith and credit of the government, $6,935 ,000 represents bonds secured by sales tax revenues,
$850,000 represents bonds secured solely by water and sewer revenues, and $690,000 represents bonds
secured solely by drainage utility system revenues . The City's capitalized lease obligations of $649,345
pertain to the prior year lease purchase of a fire pumper truck and mid-mount aerial platform fire
apparatus, and P25 radio tower and equipment conversion.
OUTSTANDING DEBT AT YEAR-END
BONDS, NOTES AND CAPITALIZED LEASE OBLIGATIONS PAYABLE
Governme ntal Activities Business-type Activities Totals
2015 2014 2015 2014 2015 2014
General obligation bonds
and certificates of
obligation $ 6,920,000 $ 7,660,000 $ $ $ 6,920,000 $ 7,660,000
Sales tax revenue bonds 6,935,000 7,330,000 6,935,000 7,330,000
Revenue bonds payable 1,540,000 2 ,225,000 1,540,000 2,225,000
Capitalized lease
obligations 649,345 974,038 649 .345 974,038
$ 14,504,345 $ 15,964,038 $ 1,540,000 $ 2,225,000 $ 16,044,345 $ 18 ,189,038
The City's General Obligation, Tax and Water Works and Sewer System Certificates of Obligation, and
Water Works and Sewer System Revenue Bond ratings are listed below.
General Obligation Bonds
Water Revenue Bonds
Fitch Ratings
AAA
AAA
Standard
& Poor's
AAA
AAA
The City's General Obligation bonds and Water Revenue bonds are both rated AAA by both Standard
and Poor's and Fitch Ratings. These are the highest bond ratings assigned to municipal debt by these
ratings agencies. Additional information on the City of Colleyville's long term debt can be found in
footnote 4 on pages 63-67 of this report.
27
ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES
The fiscal year 2016 General Fund budget including transfers is based on a projected revenue increase of
4 .1 % as compared to the fiscal year 2015 adopted budget. There is a 3 .1 % increase projected in General
Fund property tax revenue, due to a declining portion of the total tax rate committed to debt service
repayment (interest and sinking portion) thereby increasing the amount allocated to the General Fund
(operations and maintenance portion) and a 2.8% increase in valuation. This is the largest revenue
source and comprises 53.8% of General Fund revenues. The total tax rate for fiscal year 2016 is $.3559,
which is unchanged since fiscal year 2008. Sales tax is the second largest revenue source, however, the
city's primary commercial corridor along Colleyville Boulevard (SH26) will be under construction for
the next several years. Fiscal year 2016 sales tax is only projected to grow 1 % from fiscal year 2015 as
construction is expected to impact traffic to nearby businesses. There continues to be a planned
utilization of $1,000,000 surplus fund balance in the adopted fiscal year 2016 General Fund budget to
provide funding for a portion of the $3.0 million street rehabilitation budget. Additionally, there is a
utilization of $152,666 of fund balance in the adopted fiscal year 2016 Debt Service budget for the
fourth year lease payment on the radio tower and equipment due to the current level of existing fund
balance. The use of fund unrestricted fund balance in both funds is contained in the ten year financial
plan.
As a local government, we exist to provide certain services that citizens expect, at the level they expect,
for a good value. The adopted fiscal year 2016 budget provides a staffing level increase of 2.5 more full
time equivalent employees to fully fund the programs and services expected by the citizens. The
positions include the addition of one urban forester in the Community Development department, one
police officer, increasing one part-time building inspector to full time, and increasing one part-time
marketing coordinator to full time. One vacant part-time building attendant position was eliminated and
the funding repurposed for the previously mentioned changes.
Slight revenue growth in the Water and Wastewater Fund will come from additional residential and
commercial customers. A new rate structure that was adopted by the City Council in July 2015 will
generate additional resources for needed water and waste water infrastructure projects. There was also
the incorporation of the pass through of projected Trinity River Authority (TRA) rate increases to
maintain the financial stability of the Water and Wastewater Fund in future years.
REQUEST FOR INFORMATION
The financial report is designed to provide our citizens, customers, investors and creditors with a general
overview of the City's finances. If you have questions about this report or need any additional
information, contact Brian Hogan, Chief Financial Officer, at 100 Main Street, Colleyville, Texas
76034, or call (817) 503-1014.
28
BASIC
FINANCIAL STATEMENTS
29
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF NET POSITION
SEPTEMBER 30, 2015
ASSETS
Cash and equivalents
Investments
Receivables (net of allowances for uncollectibles of$500,621)
Accounts
Property taxes
Loans
Due from other governments
Inventories
Net pension asset
Accrued interest
Restricted assets:
Cash and equivalents
Capital assets:
Land
Buildings and improvements
Equipment
Infrastructure/water distribution/sewer collection
Construction in progress
Less: accumulated depreciation
Total capital assets
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding
Deferred outflows related to pensions
Total deferred outflows of resources
LIABILITIES
Accounts payable
Accrued liabilities
Unearned revenues
Accrued interest payable
Advances from developers
Escrow funds
Customer deposits
Noncurrent liabilities:
Due within one year
Due in more than one year
Total liabilities
NET POSITION
Net investment in capital assets
Restricted:
Debt service
Court security and technology
Grant programs
Leisure services
Economic development
Streets and drainage
Police
$
Governmental
Activities
26,840,660
10,695,251
137,715
184,385
160,000
1,447,231
2,119
3,408,572
23,699
9,178,641
46,882,488
11,007,458
93,599,298
5,122,642
52,327 .489)
113,463,038
156,362,670
325 ,573
325,573
1,347,900
605,268
1,182
110,833
192,508
54,869
1,624,894
13,668,452
17,605,906
98,958,693
744,295
154,901
9,844
233,472
2,975,894
13,838,090
1,485,735
Unrestricted 20,681,413
Total net position $ 139,082,337
The accompanying notes are an integral part of these financial statements.
30
$
Business-type
Activities
4,067,584
7,770,591
3,168,318
224,190
463,905
16,805
1,364,201
304,839
53,922
2,008,921
74,597,681
3,773,157
34,415 193)
46.323,327
63,398,921
100,145
42,570
142 715
1,156,300
64,895
10,366
69,000
26,613
455,760
464,870
1.209 ,332
3,457,136
44,823,618
15,260,882
$ ___ 6;;..;0""',0""8~4,:.;..50.;..;;.0
Total Component Units
$ 30,908,244 $ 12,751,890
18,465,842 3,871,407
3,306,033
184,385
160,000
1,447,231
226,309
3,872,477
40,504 774
1,3 64,201
9,483,480 1,853,241
46,936,410
13,016,379
168,196,979 12,217,863
8,895,799
86, 742,682) 262,623)
159,786,365 13 808.481
219 ,761.591 30,432,552
100,145 20,896
368,143
468,288 20,896
2,504,200 758,690
670,163
1,182
121,199 13,275
261,508
26,613
510,629
2,089,764 585,000
14,877,784 2.603.900
21.063.042 3,960.865
143,782,311 10,640,477
744,295
154,901
9,844
233,472
2,975,894
13,838,090
1,485,735
35.942.295 15,852.106
$ 199,166 ,837 $ 26,492,583
31
Functions/Programs
Primary government
Governmental activities:
General government
Community development
Fire and rescue
Leisure services
Maintenance
Municipal court
Police
Streets and drainage
Interest on long-term debt
Total governmental activities
Business-type activities:
Water and wastewater
Drainage
Total business-type activities
Total primary government
Component unit
Tax increment financing
Total component unit
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Expenses Charges for Services
$ 4 ,676,185 $ 17,500
1,582,461 1,587,038
5,264,026 327,264
4,042,252 503,098
684,301
522,422 1,474,485
5,681,698 75,415
4,404,701 802,551
536,161
27,394,207 4,787,351
14,055,232 15,800,163
833,599 948,565
14.888.831 16,748,728
$ 42,283 ,038 $ 21 ,536,079
$ 873,149 $
$ 873,149 $
Genernl revenues:
Taxes:
Property taxes, levied for general purposes
Property taxes, levied for debt service
TIF taxes
Sales taxes
Franchise taxes
Other taxes
Investment earnings
Miscellaneous
Gain on sale of capital assets
Transfers
Total general revenues and transfers
Change in net position
Net position -beginning
Prior period adjustment
Net position -ending
Program Revenue
Operating Grants
and Contributions
$
$
$
$
435
11,105
336,969
102,050
450,559
450,559
The accompanying notes are an integral part of these financial statements.
32
Capital Grants and
Contributions
$
634,122
7,078,144
7,712 266
2,362,261
2,362,26 1
$ __ 1_0._07_4.._5_2_7
$ ____ _
$ ------
$(
$
Governmental
Activities
4,658,250)
4,577
4,925,657)
2,568,063)
684,301)
952,063
5,504,233)
3,475,994
536,161)
14 ,444,03 1)
14,444 .031)
12,686,911
806,710
6,705,914
2,319,723
107,977
100,842
82,873
1,178,590
23,989,540
9,545,509
125,185,416
4,351,412
139,082,337
Net (Expense) Revenue and Changes in Net Position
Primary Government
$
$
Business-type
Activities
4,107,192
114,966
4,222,158
4,222,158
52,480
5,062
1,178 ,590)
I, L2 I ,04$)
3.10 1,110
56,394 ,755
588,635
60,084,500
$(
.(
$
Total
4,658,250)
4,577
4,925,657)
2,568,063)
684,301)
952,063
5,504,233)
3,475,994
536,161)
14 ,444,03 1)
4,107,192
114 966
4,222,158
I 0,221,873)
12,686,911
806,710
6,705,914
2,319,723
107,977
153,322
82,873
5,062
22 ,868,492
12,646,619
181,580,171
4 ,940.047
199,166,837
33
Component Units
$
873,149)
873 ,149)
4,043,790
12 ,840
4,056,630
3,183,481
23.309.102
$ 26,492,583
CITY OF COLLEYVILLE, TEXAS
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2015
General Capital Projects Debt Service
ASSETS
Cash and cash equivalents $ 6,458,498 $ 11,935,309 $ 829,283
Investments 3,753,362 2,282,746
Receivables (net of allowances for uncollectibles)
Accounts 137,715
Taxes 158,767 25,618
Loans 160,000
Due from other governments 670,005 185 ,487 227
Inventories 2,119
Accrued interest 12,356 4.644
Total assets 11,352,822 14,408,186 855.128
LIABILITIES
Accounts payable 897,530 438,860
Accrued liabilities 578,490
Unearned revenue 1,182
Advances from developers 47,548 131,236
Customer deposits 54,869
Total liabilities 1,579.619 570,096
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue -property taxes 158,767 25,618
Unavailable revenue -municipal fines 12,650
Unavailable revenue -ambulance fees 49,385
Total deferred inflows of resources 220,802 25,618
FUND BALANCES
Non-spendable:
Inventories 2,119
Restricted:
Streets and drainage 13,838,090
Debt service 829,510
Court security and technology
Grant programs
Leisure services
Economic development
Police
Committed:
Strategic incentives 295,198
Sales tax incentives 518,338
Leisure services
Capital projects
Assigned:
Capital projects
Recycling
Leisure services
Unassigned 8,736,746
Total fund balances 9 ,552,401 13,838,09 0 829 ,510
Total liabilities, deferred inflows of resources, and fund balances $ 11,352,822 $ 14,408,186 $ 855,128
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.
Other long-term assets are not available to pay for current-period expenditures and, therefore are deferred in the funds .
Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds.
Net position of governmental activities
The accompanying notes are an integral part of these financial statements.
34
Total Governmental
Other Governmental Funds
$ 7,617,570 $ 26,840,660
4,659,143 10,695,251
137,715
184,385
160,000
591,512 1,447,231
2,119
6.699 23,699
12,874,924 39.491 060
11,510 1,347,900
26,778 605,268
1,182
13,724 192,508
54 869
52 ,012 2.201.727
184,385
12,650
49.385
246,420
2,119
13,838,090
829,510
154,901 154,901
9,844 9,844
233,472 233,472
2,975,894 2,975,894
1,485,735 1,485,735
295,198
518,338
1,281,722 1,281,722
5,868,405 5,868,405
797,959 797,959
1,627 1,627
13,353 13,353
8,736,746
12 ,822,912 37,042.913
$ 12 ,874,924
113,463,038
3,734,145
246,420
15,404 ,179)
$ 139,082,337
35
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
General Capital Projects Debt Service
REVENUES
Taxes $ 18,562,464 $ $ 808,761
Fees and fines 1,084,100
Licenses and permits 1,303,710
Intergovernmental 1,368,596
Charges for services 1,517,950
Capital improvement fees 785,992
Donations
Investment earnings 62,386 19,250 965
Miscellaneous 82,873
Total revenues 22,613,483 2, 173,838 809,726
EXPENDITURES
Current:
General government 3,867,015 72,147
Community development and engineering 1,357,919 165,173
Fire and rescue 4,614,700 1,306
Leisure services 2,493,699
Maintenance 632,480 30,000
Municipal court 366,587
Police 4,393,623
Streets and drainage 2,284,515 123,265
Debt service:
Principal 1,064,693
Interest and other charges 318,998
Capital outlay 257,359 4,698,370
Total expenditures 20,267,897 5,090,261 1,383,691
EXCESS (DEFICIENCY) OF REVENUES
OVER(UNDER)EXPENDITURES 2,345,586 2,9 16,423) 573,965)
OTHER FINANCING SOURCES (USES)
Sale of capital assets 3,798
Transfers in 1,115,272 4,565,677 500,985
Transfers out 4 ,807.677)
Total other financing sources and uses 3 ,688 ,607) 4,565,677 500,985
NET CHANGE IN FUND BALANCES 1,343,021) 1,649,254 72,980)
FUND BALANCES, BEGINNING 10,895,422 12,188,836 902,490
FUND BALANCES, ENDING $ 9,552.401 $ 13,838,090 $ 829,510
The accompanying notes are an integral part of these financial statements.
36
Total
Other Governmental
Governmental Funds
$ 3,249,281 $ 22,620,506
133,554 1,217,654
1,303,710
9,167 1,377,763
53,560 1,571,510
785,992
981,282 981,282
18,241 100,842
15.000 97,873
4,460,085 30,057.132
186,970 4,126,132
1,250 1,524,342
2,097 4,618,103
502,672 2,996,371
662,480
141,979 508,566
750,039 5,143,662
2,407,780
395,000 1,459,693
205,416 524,414
1,312,544 6,268,273
3,497,967 30,239 816
962,118 182 684)
16,800 20,598
315,318 6 497,252
510,985) 5,3 18,662)
178,867) 1,199.188
783,251 1,016,504
12.039 ,66 1 36,026,409
$ 12,822,912 $ 37,042,913
37
THIS PAGE INTENTIONALLY LEFT BLANK
38
CITY OF COLLEYVILLE, TEXAS
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES OF GOVERNMENT AL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Amounts reported for governmental activities in the Statement of Activities are
different because:
Net change in fund balances -total governmental funds :
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 net effect of transactions involving capital assets is to increase net position.
Revenues, in the statement of activities, that do not provide current financial
resources, are not reported as revenues in the funds.
The issuance of long-term debt (e .g., bonds , leases) provides current financial
resources to governmental funds, while the repayment of the principal of long-
term debt consumes the current financial resources of governmental funds.
Certain pension expenditures are not expended in the government-wide financial
statements and recorded as deferred resource outflows or inflow. This item relates
to contributions made after the measurement date. Additionally, a portion of the
City's unrecognized deferred resource outflows related to the pension liability
were amortized.
Some expenses reported in the statement of activities do not require the use of
current financial resources and therefore are not reported as expenditures in
governmental funds .
Change in net position of governmental activities
The accompanying notes are an integral part of these financial statements.
39
$ 1,016,504
2,042,040
5,702,909
( 5,554)
1,459,693
( 617,267)
( 52 ,816)
$ 9,545,509
THIS PAGE INTENTIONALLY LEFT BLANK
40
CITY OF COLLEYVILLE, TEXAS
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE -BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative2
REVENUES
Taxes $ 17,830,254 $ 17,830,254 $ 18,562,464 $ 732,210
License and permits 856,500 856,500 1,303,710 447,210
Fees and fines 810,288 810,288 1,084,100 273,812
Charges for services 1,288,519 1,288,519 1,517,950 229,431
Investment earnings 35,000 35,000 62,386 27,386
Other 55,100 55 ,100 82,873 27 773
Total revenues 20,875,661 20,875,661 22,613,483 1,737,822
EXPENDITURES
Current:
General government 4,206,772 4,206,772 3,867,015 339,757
Community development and engineering 1,314,446 1,314,446 1,357,919 ( 43,473)
Fire and rescue 4,557,537 4,557,537 4,614,700 ( 57,163)
Leisure services 2,740,360 2,740,360 2,493,699 246,661
Maintenance 749,942 749,942 632,480 117,462
Municipal court 399,733 399,733 366,587 33,146
Police 4,408,293 4,408,293 4,393,623 14,670
Streets and drainage 4,083,178 4,083,178 2,284,515 1,798,663
Capital outlay 25,957 25,957 257,359 ( 23 1,402)
Total expenditures 22,486,218 22,486,218 20,267,897 2,218,321
EXCESS (DEFICIENCY) OF REVENUES
OVER(UNDER)EXPENDITURES ( 1,610,557) ( 1,610,557) 2,345,586 3,956,143
OTHER FINANCING SOURCES (USES)
Transfers in 1,182,919 1,182,919 1,115,272 ( 67,647)
Transfers out ( 742,000) ( 4,807,677) ( 4,807,677)
Sale of capital assets 5,000 5,000 3 798 ( 1,202)
Total other financing sources and uses 445,919 ( 3,619,758) ( 3,688 607) ( 68 ,849)
NET CHANGE IN FUND BALANCE ( 1,164,638) ( 5,230,315) ( 1,343,021) 3,887,294
FUND BALANCE, BEGINNING 10,895,422 10,895,422 10,895,422
FUND BALANCE, ENDING $ 9,730,784 $ 5,665,107 $ 9,552,401 $ 3,887,294
The notes to the financial statements are an integral part of this statement.
41
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
SEPTEMBER 30, 2015
Enterprise Funds
Water and
Wastewater Drainage Utility Total
ASSETS
Current assets:
Cash and cash equivalents $ 2,839,349 $ 1,228,235 $ 4,067,584
Investments 7,551,218 219,373 7,770,591
Accounts receivable, net of allowances 3,054,156 114,162 3,168,318
Inventories 224,190 224,190
Restricted assets:
Cash and cash equivalents 1,364.201 1.364,201
Total current assets 15,033 114 1,561 770 16,594 884
Non-current assets:
Accrued interest receivable 16,463 342 16,805
Net pension asset 397,726 66,179 463,905
Capital assets:
Land and improvements 304,839 304,839
Buildings 53,922 53,922
Utility system 70,469,317 4,128,364 74,597,681
Equipment and furniture 1,575,418 433,503 2,008,921
Construction in progress 3,598,510 174,647 3,773 ,157
Less accumulated depreciation 32,97 ~083) 1,443 ,110) ( 34 ,415,193)
Total non-current assets 43,444,112 3,359,925 46.804.037
Total assets 58,477,226 4,921 ,695 63,398 ,921
DEFERRED OUTLOWS OF RESOURCES
Deferred charge on refunding 95,843 4,302 100,145
Deferred outflows related to pensions 36.103 6,467 42 ,570
Total deferred outflows of resources 131,946 10,769 142,715
LIABILITIES
Current liabilities:
Accounts payable 1,140,633 15,667 1,156,300
Accrued liabilities 54,138 10,757 64,895
Accrued interest payable 6,375 3,991 10,366
Advances from developers 69,000 69,000
Escrow funds 26,613 26,613
Customer deposits 455,760 455,760
Compensated absences 13,040 1,830 14,870
Revenue bonds payable 345 ,000 105.000 450,000
Total current liabilities 2 ,110,559 137,245 2,247,804
Non-current liabilities:
Compensated absences 52,158 7,320 59,478
Revenue bonds payable 564,854 585,000 1,149,854
Total non-current liabilities 617,012 592,320 1,209,332
Total liabilities 2,727,571 729,565 3,457,136
NET POSITION
Net investment in capital assets 42,215,912 2,607,706 44,823,618
Unrestricted 13 ,665 ,689 1,595,193 15,260,882
Total net position $ 55 ,881,601 $ 4,202,899 $ 60,084,500
The accompanying notes are an integral part of these financial statements.
42
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN FUND NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Enterprise Funds
Water and
Wastewater Drainage Utility
OPERA TING REVENUES
Metered water sales $ 10,817,312 $
Wastewater service charges 3,414,577
Drainage service charges 944,382
Other charges and services 1,545,745 4,183
Miscellaneous 22,529
Total operating revenues 15,800,163 948,565
OPERA TING EXPENSES
Personnel services 1,652,266 305,484
Maintenance and contractual services 10,331,440 378,272
Materials and supplies 126,171 14, 183
Depreciation and amortization 1,916,805 119,028
Total operating expenses 14,026,682 816,967
OPERATING INCOME 1,773,481 131 ,598
NON-OPERA TING REVENUES (EXPENSES)
Interest and investment revenues 51,017 1,463
Interest expense and fiscal charges ( 28,550) ( 26,437)
Gain (loss) on disposal of property 5,062 9,805
Total non-operating revenues (expenses) 27,529 15,169)
INCOME BEFORE CONTRIBUTIONS
AND TRANSFERS 1,801,010 116,429
Capital contributions 2,362,261
Transfers out ( I 159 558) ( 19 032)
CHANGE IN NET POSITION 3,003,713 97,397
TOTAL NET POSITION, BEGINNING 52,391,637 4,003,118
PRIOR PERIOD ADJUSTMENT 486,251 102,384
TOTAL NET POSITION, ENDING $ 55,881,601 $ 4,202,899
The accompanying notes are an integral part of these financial statements.
43
Total
$ 10,817,312
3,414,577
944,382
1,549,928
22,529
16,748,728
1,957,750
10,709,712
140,354
2,035,833
14,843,649
1,905,079
52,480
( 54,987)
14,867
12,360
1,917,439
2,362,261
( I , 178 ,590)
3,101,110
56,394,755
588 ,635
$ 60,084,500
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Water and
Wastewater
CASH FLOWS FROM OPERA TING ACTIVITIES
Cash received from customers $ 15, 160,051
Cash paid to suppliers for goods and services ( I 0, 11 1, 170)
Cash paid to employees for services ( 1,642,5 10)
Net cash provided by operating activities 3,406,371
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers out I. I 59,558)
Net cash used for noncapital
financing activities 1,159558)
CASH FLOWS FROM CAP IT AL AND RELATED
FINANCING ACTIVITIES
Acquisition of capital assets 4,460,413)
Proceeds from sale of capital assets 5,062
Capital grants and contributions 2,362,261
Principal paid on debt 469,976)
Interest paid on debt 28,550)
Net cash used for capital and
related financing activities 2,59 1 6 16)
CASH FLOWS FROM INVESTING ACTIVITIES
(Purchase) sale of investments 652,958)
Earnings on investments 51 ,017
Net cash provided (used) by investing activities 60 1,94 I )
NET INCREASE IN CASH
AND CASH EQUIVALENTS 946,744)
CASH AND CASH EQUIVALENTS, BEGINNING 5,150,294
CASH AND CASH EQUIVALENTS, ENDING $ 4,203.550
44
Enterprise Funds
Drainage
Utility Totals
$ 938,299 $ 16,098,350
( 399,943) ( 10,511,113)
~ 298.0 13) ( 1,940,523)
240,343 3,646,714
19,032) I, 178,590)
19.032) 1,178.5 0)
30,041) 4,490,454)
9,805 14,867
2,362,261
225,000) 694,976)
26,437) 54,987)
271 ,673) 2,863,289)
190 652,768)
1.463 52,480
1,653 600,288)
48,709) 995,453)
I,276 944 6,427,238
$ 1,228,235 $ 5,431,785
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
(Continued)
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Water and
Wastewater
Reconciliation of operating income (loss) to net cash
provided (used) by operating activities:
Operating income $ 1,773,481
Adjustments to reconcile operating income (loss)
to net cash provided by (used for) operating activities :
Depreciation and amortization expense 1,926,781
Changes in assets and liabilities:
Decrease (increase) in assets:
Accounts receivable 640,112)
Inventory 88,799)
Accrued interest receivable 7,496)
Increase (decrease) in liabilities:
Accounts payable 389,175
Accrued liabilities 13,249
Compensated absences payable 23,005)
Customer deposits 12,975
Net pension liability 52,422
Accrued interest payable 2,300)
Net cash provided by operations $ 3,406,371
Noncash investing, capital, and financing activities:
Contributions of capital assets $ 2,707,835
Enterprise Funds
Drainage
Utility
$ 131,598
ll9,028
10,266)
51)
28,299)
3,684
3,787)
29,738
l,302)
$ 240.343
$
The notes to the financial statements are an integral part of this statement.
45
Totals
$ 1,905,079
2,045,809
650,378)
88,799)
7,547)
360,876
16,933
26,792)
12,975
82,160
3,602)
$ 3,646,714
$ 2,707,835
ASSETS
Cash and investments
Total assets
LIABILITIES
CITY OF COLLEYVILLE, TEXAS
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
SEPTEMBER 30, 2015
Due to other agencies and individuals
Total liabilities
The accompanying notes are an integral part of these financial statements.
46
Agency Fund
$ 25,318
$ 25,318
$ 25,318
$ 25,318
CITY OF COLLEYVILLE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2015
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of Colleyville Home Rule Charter was adopted by the voters at an election held on
January 15, 1977. The City operates under a Council-Manager form of government.
The accounting policies of the City of Colleyville, Texas (the "City") conform to generally
accepted accounting principles as applicable to governmental units. The following is a summary
of the more significant of such policies:
A. Reporting Entity
As required by generally accepted accounting principles, these financial statements present
the government and its component units, entities for which the government is considered to
be financially accountable. Blended component units, although legally separate entities are,
in substance, part of the government's operations and so data from these units are combined
with data of the primary government. Each directly presented component unit, on the other
hand, is reported in a separate column in the combined financial statements to emphasize it is
legally separate from the government. Each blended component unit has a September 30
year-end.
Blended Component Unit -The Colleyville Economic Development Corporation (CEDC)
was incorporated on September 3, 1996, as a nonprofit industrial development corporation
under the Development Corporation Act of 1979 ("Act"). The CEDC operates under a seven
(7) member Board of Directors appointed by the City Council. Each of the directors shall be
a resident of the City. The Corporation is organized exclusively for the purposes of
benefiting and accomplishing public purposes of and to act on behalf of, the City, and the
specific purposes for which the Corporation is organized. This includes municipal park
improvements, the purchase of land and improvements for additional neighborhood parks,
the construction of a community center and library. Although it is legally separate from the
City, the CEDC is reported as if it were part of the primary government, because CEDC is
financing public improvements and the City is the primary beneficiary of the services
provided.
Blended Component Unit -Colleyville Crime Control and Prevention District (the District)
was formed under Chapter 363 of the Texas Local Government Code, the Crime Control and
Prevention District Act. The District is organized to act on behalf of the City for financing,
development of crime control throughout the City. The District is governed by a seven-
member board consisting of all members of the City Council. The District is reported as a
part of the primary government because it provides services entirely for the City.
47
Discretely Presented Component Unit -Colleyville Tax Increment Financing Reinvestment
Zone Number One (the TIF) was formed to make public improvements, under the authority
of the Tax Increment Financing Act. The TIF is governed by a nine-member board consisting
of five members appointed by the City Council and one member each appointed by the four
other participating taxing entities. The primary government appoints a voting majority of the
unit's governing body and the City has a potential economic benefit from this unit.
Therefore, the TIF is presented in the accompanying financial statements as a discretely
presented component unit. Complete financial statements for the TIF may be obtained from
the City of Colleyville Finance Department, 100 Main Street, Colleyville, Texas 76034.
B. Government-wide Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the
statement of activities) report information on all of the nonfiduciary activities of the primary
government and its component units. For the most part, the effect of interfund activity has
been removed from these statements. Governmental activities, which normally are supported
by taxes and intergovernmental revenue, are reported separately from business-type
activities, which rely to a significant extent on fees and charges for support. Likewise, the
primary government is reported separately from certain legally separate component units for
which the primary government is financially accountable.
The statement of activities demonstrates the degree to which the direct expenses of a given
function or segment are offset by program revenue. Direct expenses are those that are clearly
identifiable with a specific function or segment. Program revenue includes 1) charges to
customers or applicants who purchase, use, or directly benefit from goods, services, or
privileges provided by a given function or segment, and 2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function or
segment. Taxes and other items not properly included among program revenue are reported
instead as general revenue.
Separate financial statements are provided for governmental funds, proprietary funds, and
fiduciary funds, even though the latter are excluded from the government-wide financial
statements. Major individual governmental funds and major individual Enterprise Funds are
reported as separate columns in the fund financial statements.
C. Measw·cment Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting, as are the proprietary fund and
fiduciary fund financial statements, except for Agency Funds, which have no measurement
focus. Revenues are recorded when earned and expenses are recorded when a liability is
incurred, regardless of the timing of related cash flows. Property taxes are recognized as
revenue in the year for which they are levied. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the provider have been met.
48
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized
as soon as they are both measurable and available. Revenues are considered to be available
when they are collectible within the current period or soon enough thereafter to pay liabilities
of the current period. For this purpose, the government considers revenue to be available if
collected within 60 days of the end of the current fiscal period. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting. However, debt service
expenditures, as well as expenditures related to compensated absences and claims and
judgments, are recorded only when payment is due.
Property taxes, franchise taxes, sales taxes, and interest associated with the current fiscal
period are all considered to be susceptible to accrual and so have been recognized as revenue
of the current fiscal period. All other revenue items are considered to be measurable and
available only when cash is received by the City.
GOVERNMENTAL FUNDS
Governmental Funds are those through which most governmental functions of the City
are financed. The acquisition, use, and balances of the City's expendable financial
resources and the related liabilities (except those accounted for in the proprietary fund
type) are accounted for through governmental funds. The measurement focus is upon
determination of changes in financial position, rather than upon net income
determination. The following are the City's governmental fund types:
The City reports the following major governmental funds:
The General Fund -is the general operating fund of the City. It is used to
account for all financial resources except those required to be accounted for in
another fund.
The Capital Projects Fund -is used to account for financial resources to be
used for the acquisition or construction of general major capital facilities.
Financing is provided primarily by the sale of general obligation bonds and
developer contributions.
The Debt Service Fund -is used to account for the acquisition of resources
for, and the payment of, general long-term debt principal and interest, and
related costs.
Additionally, the City also reports the following fund type:
The Special Revenue Fund -accounts for the revenues and expenditures
associated with a special project or purpose.
PROPRIETARY FUNDS
Proprietary Funds are used to account for activities that are similar to those often found
in the private sector. The measurement focus is upon determination of net income and
capital maintenance.
49
The City reports the following major proprietary funds:
The Water and Wastewater Fund -is used to account for operations (a) that
are financed and operated in a manner similar to private business enterprises -
where the intent of the governing body is that the costs (expenses, including
depreciation) of providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges; or
(b) where the governing body has decided that periodic determination of
revenue earned, expenses incurred, and/or net income is appropriate for
capital maintenance, public policy, management control, accountability, or
other purposes. This fund is used to account for water and wastewater
operations.
The Drai1tage Utility Fmul -is used to account for the establishment and
maintenance of drainage facilities within the municipal boundaries of the City.
All activities necessary to provide such facilities are accounted for in this
fund, included but not limited to, administration, operations, maintenance,
billing and collections.
FIDUCIARY FUNDS
Ageucv Fund -Fiduciary Funds are used to account for assets held by the
City in a trustee capacity or as an agent on behalf of others. Agency funds are
custodial in nature and do not present results of operations or have a
measurement focus. The City has two agency funds: Employee Activity and
the Sesquicentennial Fund. These funds are held for the benefit of City
employees and to benefit the City's historical purposes.
As a general rule, the effect of interfund activity has been eliminated from the government-
wide financial statements. Exceptions to this general rule are charges between the City's
water and wastewater function and various other functions of the government. Elimination of
these charges would distort the direct costs and program revenue reported for the various
functions concerned.
Amounts reported as program revenues include: 1) charges to customers or applicants for
goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital
grants and contributions, including special assessments. Internally dedicated resources are
reported as general revenues rather than as program revenue. Likewise, general revenue
includes all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary fund's principal ongoing operations. The
principal operating revenues of the City's Enterprise Funds are charges to customers for sales
and services. Operating expenses for Enterprise Funds include the cost of sales and services,
administrative expenses, and depreciation on capital assets. All revenue and expenses not
meeting this definition are reported as nonoperating revenue and expenses.
50
D. Cash and Cash Equivalents
For purposes of the statement of cash flows, the Enterprise Fund considers all highly liquid
investments (investments with original maturities less than 90 days, including restricted
assets) to be cash equivalents.
E. Investments
In accordance with GASB Statement No. 31, the City's general policy is to report money
market investments and short-term participating interest-earning investment contracts at
amortized cost and to report nonparticipating interest-earning investment contracts using a
cost-based measure. However, if the fair value of an investment is significantly affected by
the impairment of the credit standing of the issuer or by other factors, it is reported at fair
value. All other investments are reported at fair value unless a legal contract exists which
guarantees a higher value. The term "short-term" refers to investments, which have a
remaining term of one year or less at time of purchase. The term "nonparticipating" means
that the investment's value does not vary with market interest rate changes.
F. Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements
outstanding at the end of the fiscal year are referred to as either "due to/from other funds"
(i.e., the current portion of interfund loans) or "advances to/from other funds" (i.e., the
noncurrent portion of interfund loans). All other outstanding balances between funds are
reported as "due to/from other funds ." Any residual balances outstanding between the
governmental activities and business-type activities are reported in the government-wide
financial statements as "internal balances."
Advances between funds, as reported in the fund financial statements, are offset by a fund
balance reserve account in applicable governmental funds to indicate that they are not
available for appropriation and are not expendable available financial resources.
The allowance for utility receivables is the total of final bills that have been sent out by the
City. Final bills are bills that have been sent out to customers that have notified the City of a
discontinuation of service. Ambulance receivables in excess of 180 days comprise the
ambulance allowance for uncollectables. The allowance for uncollectable accounts for capias
warrants is set at 90% of outstanding receivables.
Property taxes are levied on October 1 and attach as an enforceable lien on property as of
January 1. Statements are mailed on October 1, or as soon thereafter as possible, and are due
upon receipt. All unpaid taxes become delinquent if not paid before February 1 of the
following year.
G. Inventories
Inventories in the Enterprise Fund are valued at cost (first-in, first-out method).
51
H. Canital Assets
Capital assets, which include property, plant, equipment and infrastructure assets (e.g. roads,
bridges, sidewalks and similar items) are reported in the applicable governmental or
business-type activities columns in the government-wide financial statements. The City
defines capital assets as assets with an initial, individual cost of more than $5,000 (amount
not rounded) and an estimated useful life in excess of one year. Such assets are recorded at
historical cost or estimated historical cost if purchased or constructed. Donated capital assets
are recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or
materially extend assets' lives are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed.
Property, plant and equipment is depreciated using the straight-line method over the
following estimated useful lives:
Buildings
Improvements
Equipment
Assets
Infrastructure (streets and drainage)
Water distribution/sewer collection
I. ComJJensated Absences
Years
15-50
20-50
5-10
50
5 -40
City employees are granted vacation and sick pay in varying amounts. In the event of
termination, an employee is paid for all accumulated, unused vacation. Vacation pay is
accrued as it vests to the employee. Sick pay is recorded when paid or upon retirement when
a maximum of 90 days is paid. The accrued sick pay is not recorded, as the City's policy is
not to compensate employees upon separation of services with the City, except for
retirement, and such amounts are not considered material. All vacation pay is accrued when
incurred in the government-wide and proprietary fund financial statements.
J. Long-term Obligations
In the government-wide financial statements and proprietary fund types in the fund financial
statements, long-term debt and other long-term obligations are reported as liabilities in the
applicable governmental activities, business-type activities, or proprietary fund type statement
of net position.
In the fund financial statements, the face amount of debt issued is reported as other financing
sources for the governmental fund types.
52
For governmental fund types, bond premiums and discounts, as well as issuance costs, are
recognized during the current period. Bond proceeds are reported as another financing source.
Issuance costs, even if withheld from the actual net proceeds received, are reported as
expenditures. For proprietary fund types, bond premiums and discounts, as well as issuance
costs, are charged to current operations rather than being deferred and amortized due to the
relatively immaterial effect on the basic financial statements taken as a whole.
K. Fund Balance Classification
The governmental fund financial statements present fund balances based on classifications that
comprise a hierarchy that is based primarily on the extent to which the City is bound to honor
constraints on the specific purposes for which amounts in the respective governmental funds
can be spent. The classifications used in the governmental fund financial statements are as
follows:
• Nonspendable: This classification includes amounts that cannot be spent because they
are either (a) not in spendable form 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 next year.
• Restricted: This classification includes amounts for which constraints have been
placed on the use of the resources either (a) externally imposed by creditors, granters,
contributors, or laws or regulations of other governments, or (b) imposed by law
through constitutional provisions or enabling legislation.
• Committed: This classification includes amounts that can be used only for specific
purposes pursuant to constraints imposed by resolution of the City Council, the City's
highest level of decision making authority. These amounts cannot be used for any
other purpose unless the Council removes or changes the specified use by taking the
same type of action that was employed when the funds were initially committed.
This classification also includes contractual obligations to the extent that existing
resources have been specifically committed for use in satisfying those contractual
requirements.
• Assigned: This classification includes amounts that are constrained by the City's
intent to be used for a specific purpose but are neither restricted nor committed. This
is done through resolution of the City Council. This intent can be expressed by the
Chief Financial Officer.
• Unassigned: This classification includes the residual fund balance for the General
Fund. The unassigned classification also includes negative residual fund balance of
any other governmental fund that cannot be eliminated by offsetting of assigned fund
balance amounts.
When an expenditure is incurred for purposes for which both restricted and unrestricted fund
balance is available, the City considers restricted funds to have been spent first. When an
expenditure is incurred for which committed, assigned, or unassigned fund balances are
available, the City considers amounts to have been spent first out of committed funds, then
assigned funds, and finally unassigned funds.
53
L. Minimum Unassigned Fund Balance
It is the goal of the City to achieve and maintain an unassigned fund balance in the General
Fund 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. Any such action must also provide for necessary appropriations to restore the
designated fund balance to the balance within a three-year period.
M. Net Position Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g.,
restricted bond or grant proceeds) and unrestricted resources. In order to calculate the
amounts to report as restricted -net position and unrestricted -net position in the
government-wide and proprietary fund financial statements, a flow assumption must be made
about the order in which the resources are considered to be applied. It is the City's policy to
consider restricted -net position to have been depleted before unrestricted -net position is
applied.
N. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate
section for deferred outflows of resources. This separate financial statement element,
deferred outflows of resources, represents a consumption of net position that applies to a
future period(s) and so will not be recognized as an outflow of resources
(expense/expenditure) until then. The City has the following items that qualify for reporting
in this category.
• Deferred charges on refundings - A deferred charge on refunding results from the
difference in the carrying value of refunded debt and its reacquisition price. This
amount is deferred and amortized over the shorter of the life of the refunded or
refunding debt.
• Pension contributions after measurement date -These contributions are deferred and
recognized in the following fiscal year.
• Difference in projected and actual earnings on pension assets -This difference is
deferred and amortized over a closed five year period.
• Difference in expected actual pension experience -This difference is deferred and
recognized over the estimated average remaining lives of all members determined as
of the measurement date.
In addition to liabilities, the balance sheet will sometimes report a separate section for
deferred inflows of resources. This separate financial statement element, deferred inflows of
resources, represents an acquisition of fund that applies to a future period(s) and so will not
be recognized as an inflow of resources (revenue) until that time. The government has only
one type of item, which arises only under a modified accrual basis of accounting, that
qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is
reported only in the governmental funds balance sheet. The governmental funds report
unavailable revenues from three sources: property taxes, municipal fines and ambulance fees.
These amounts are deferred and recognized as an inflow of resources in that period that the
amounts become available.
54
0. Estimates
The preparation of financial statements, in conformity with generally accepted accounting
principles, requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosures of contingent liabilities at the date of the
financial statements and the reported amounts of revenue and expenses during the reporting
period. Actual amounts could differ from those estimates.
P. Risk Management
Insurance coverage for property, liability and workers' compensation is provided by the
Texas Municipal League Intergovernmental Risk Pool, a state insurance pool. Contributions
to the Risk Pool for workers' compensation are based on the City's past claims history. The
Risk Pool is self-sustaining through members' contributions and maintains insurance to limit
risk of loss with an external insurance company. Settlement claims have not exceeded
aggregate limits in the past three fiscal years.
Q. Pensions
For purposes of measuring the net pension liability, pension related deferred outflows and
inflows of resources, and pension expense, City specific information about its Fiduciary Net
Position in the Texas Municipal Retirement System (TMRS) and additions to/deductions
from the City's Fiduciary Net Position have been determined on the same basis as they are
reported by TMRS. For this purpose, plan contributions are recognized in the period that
compensation is reported for the employee, which is when contributions are legally due.
Benefit payments and refunds are recognized when due and payable in accordance with the
benefit terms. Investments are reported at fair value. Information regarding the City's Total
Pension Liability is obtained from TMRS through a report prepared for the City by TMRS
consulting actuary, Gabriel Roeder Smith & Company, in compliance with Governmental
Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting
for Pensions.
R. Prior Period Ac1 justment -Change in Accounting Principles
As a result of implementing GASB Statement 68, the City has increased beginning net
position as of October 1 2014 by $4,351,412 for the governmental activities and $588,635 for
the business-type activities.
55
2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the
Governn1ent-wide Statement of Net Position
The governmental fund balance sheet includes a reconciliation between fund balance -total
governmental funds and net position -governmental activities as reported in the government-
wide statement of net position. One element of that reconciliation explains, "Long-term liabilities
are not due and payable in the current period and therefore are not reported in the funds." The
details of this $(15,404,179) difference are as follows:
Bonds payable
Capital leases payable
Accrued interest payable
Compensated absences
Net adjustment to reducefand balance -total
governmentalfands to arrive at net assets -
governmental a c tivities
$(
(
(
$(
13,855,000)
649,345)
110,833)
789,001)
1.5 404 179)
Explanation of Certain Differences Between the Governmental Fund Statement of Revenue,
Expenditures and Changes in Fund Balances and the Govemn1ent-wide Statement of Activities
The governmental fund statement of revenue, expenditures and changes in fund balances includes
a reconciliation between net changes in fund balances -total governmental fund and changes in
net position of governmental activities as reported in the government-wide statement of activities.
One element of that reconciliation explains, "Governmental funds report capital outlays as
expenditures. However, in the statement of activities the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense." The details of this $(2,042,040)
difference are as follows:
Capital outlay
Depreciation expense
Net adjustment to increase net changes infand balances -
total governmentalfands to arrive at c hanges in net
assets of governmental activities
$
(
6,268,273
4,226,233)
$ 2,042,040
==:::::::::====
Another element of that reconciliation states, "Revenues in the statement of activities that do not
provide current financial resources are not reported as revenues in the funds." The details of this
$(5,554) difference are as follows:
Property taxes
Ambulance revenue
Adjudicated fines
Net adjustment to increase net changes infand balances -
total governmental.funds to arrive at changes in net
assets of governmental activities
56
$
(
(
6,729
9,120)
3,163)
$=( ===5=55=4.)
Another element of that reconciliation states, "The issuance of long-term debt (e.g., bonds,
leases) provides current financial resources to governmental funds, while the repayment of the
principal of long-term debt consumes the current financial resources of governmental funds."
Neither transaction, however, has any effect on net position. The details of this $1,459,693
difference are as follows:
Principal payments and refundings
Net adjustment to reducefand balance -total
governmentalfands to arrive at net assets -
governmental activities
$ 1,459,693
--~~-
$ 1,459,693 ==========
Another element of that reconciliation states, "Some expenses reported in the statement of
activities do not require the use of current financial resources, and therefore are not reported as
expenditures in governmental funds." The details of this $(52,816) difference are as follows:
Compensated absences
Accrued interest
Net adjustment to decrease net changes infand balances -
total governmentalfands to arrive at changes in net
assets of governmental activities
3. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Budgetary Information
$(
(
$(
41,069)
11,747)
52,816)
The City Council follows these procedures in establishing budgetary data reflected in the
basic financial statements:
(1) Prior to September 1, the City Manager submits to the City Council a
proposed operating budget for the fiscal year commencing the following
October 1. The operating budget includes proposed expenditures and the
means of financing them.
(2) Public hearings are conducted to obtain taxpayer comments.
(3) Prior to September 30, the budget is legally enacted through passage of an
ordinance.
( 4) The City Manager is authorized to transfer budgeted amounts between
departments within any fund; however, any revisions that alter the total
expenditures of any fund must be approved by the City Council.
(5) Formal budgetary integration is employed as a management control device
during the year for the General, Debt Service, and Enterprise Funds.
Budgetary control is maintained at the fund level.
57
Internal budgets are prepared and reviewed by the City Council for
expenditures of Special Revenue Funds. These budgeted expenditures are not
formally adopted by the City Council. No budgets were prepared for revenue
of these funds for the year ended September 30, 2015.
(6) Budgets for the General and the Debt Service Funds are adopted on a basis
consistent with generally accepted accounting principles (GAAP). Formal
budgeted amounts are as amended by the City Council for the General , Debt
Service and Enterprise Funds.
(7) Budgetary data for the Capital Projects Fund has not been presented in the
accompanying basic financial statements, as such funds are budgeted over the
life of the respective project and not on an annual basis. Accordingly, formal
budgetary integration of the Capital Projects Fund is not employed and
comparison of actual results of operations to budgetary data for such fund is
not presented .
(8)Budgetary data for the Enterprise and Drainage Utility Funds has not been
presented since the reporting on such budgets is not legally required.
Expenditures Over Appropriations
Community development and engineering, fire and rescue, and capital outlay expenditures
in the general fund exceeded appropriations by $43,473, $57,163, and $231,402. This
overage was funded by under spending in other functions .
4. DETAILED NOTES ON ALL FUNDS
Deposits and Investmen ts
As of September 30, 2015, the City had the following investments:
Investment Type
I.DGIC
U.S. Treasuries and Agencies
Total fair value
58
$
$
Fair
Value
24,851,107
22,326,370
47,177,477
Weighted Average
M a turity (Day s )
33
353
The Public Funds Investment Act (Government Code Chapter 2256) contains specific provisions
in the areas of investment practices, management reports and establishment of appropriate
policies. Among other things, it requires the City to adopt, implement, and publicize an
investment policy. That policy must address the following areas: (1) safety of principal and
liquidity, (2) portfolio diversification, (3) allowable investments, (4) acceptable risk levels, (5)
expected rates of return, (6) maximum allowable stated maturity of portfolio investments, (7)
maximum average dollar-weighted maturity allowed based on the stated maturity date for the
portfolio, (8) investment staff quality and capabilities, and (9) bid solicitation preferences for
certificates of deposit. Statutes authorize the City to invest in (1) obligations of the U. S.
Treasury, certain U. S. agencies, and the State of Texas; (2) certificates of deposit, (3) certain
municipal securities, (4) money market savings accounts, (5) repurchase agreements, (6) bankers
acceptances, (7) Mutual Funds, (8) investment pools, (9) guaranteed investment contracts, and
(10) common trust funds. The Act also requires the City to have independent auditors perform
test procedures related to investment practices as provided by the Act. The City is in substantial
compliance with the requirements of the Act and with local policies.
The City's investment pools are 2a7-like pools. A 2a7-like pool is one which is not registered
with the Securities and Exchange Commission ("SEC") as an investment company, but
nevertheless has a policy that it will, and does, operate in a manner consistent with the SEC's
Rule 2a7 of the Investment Company Act of 1940.
Interest Rate Risk. In accordance with its investment policy, the government manages its
exposure to declines in fair market values by limiting the average dollar weighted maturity of its
investment portfolios to a maximum of 540 days.
Custodial Credit Risk. The City maintains a cash and investment pool that combines cash of the
various funds in order to maximize investment opportunities. The City's policy and state statutes
require that all deposits in financial institutions be insured by the Federal Depository Insurance
Corporation (FDIC) or fully collateralized as per the Public Funds Collateral Act. The City's
deposits were fully insured or collateralized as required by state statutes as of September 30,
2015.
Credit Risk. It is the City's policy to limit its investments to investment types with an investment
quality rating not less than A or its equivalent by a nationally recognized statistical rating
organization. The City's investment pools are rated as follows by Standard & Poor's Investors
Service.
LOGIC
U. S. Treasuries and Agencies
59
AA Am
AA+
Receivables
Receivables as of year-end for the government's individual major funds, nonmajor funds and
enterprise funds in the aggregate, including the applicable allowances for uncollectible accounts,
are as follows:
Governmental Funds Enterprise Ftmds
Capital Debt Nonmajor Water and Drainage
General Projects Service Funds W asteooter Utility Total
Receivables:
Accounts $ 585,604 $ $ $ $ 3,106,888 $ 114,162 $ 3,806,654
Taxes 158,767 25,618 184,385
Due from other
governments 670,005 I 85,487 227 591,512 1,447,231
Loans 160,000 160,000
Accrued interest 12,356 4,644 6,699 16,463 342 40,504
Gross receivables 1,586,732 190,131 25,845 598,21 I 3,123,351 114,504 5,638,774
Less: allooonce for
uncollectibles ( 447,889) 52,732) ( 500,621)
Net total receivables $ 1,138 ,843 $ 190,131 $ 25,845 $ 598,2 I 1 $ 3,070,619 $ 114,504 $ 5,138,153
The City's property tax is levied each October 1 on the assessed value listed as of the prior
January 1 for all real property and certain personal property located in the City. Tax liens attach
as of January 1. The assessed value, net of exemptions, upon which the fiscal 2015 levy was
based, was $4, 103, 146,803.
Property taxes are limited by the Texas constitution to $2.50 per $100 of assessed valuation and
by City Charter to $1.50 per $100 valuation. Also, the tax rate set per budget year shall not result
in property tax revenue increase greater than seven percent of the total property tax revenue
collected in the preceding budget year, adjusted for new construction, unless authorized by the
voters of the City at a special election. The combined tax rate to finance general governmental
service and debt service for the year ended September 30, 2015, was $.3559 per $100 of assessed
valuation.
Taxes are due by January 31 following the levy date. Tax collections, including related penalties
and interest, was $13,486,892 for the year ended September 30, 2015. Property taxes receivable
at September 30, 2015, were $184,385.
The appraisal of property within the City is the responsibility of a countywide appraisal district
as required by legislation passed by the Texas Legislature. The appraisal district is required
under such legislation to assess all property within the appraisal district on the basis of 100% of
its appraised value and is prohibited from applying any assessment ratios. The value of property
within the appraisal district must be reviewed every three years; however, the City may, at its
own expense, require annual reviews of appraised values. The City may challenge appraised
values established by the appraisal district through various appeals and, if necessary, legal action.
60
Capital Assets
Capital asset activity for the year ended September 30, 2015, was as follows:
Primary Government
Beginning Ending
Balance Increases Decreases Balance
Governmental activities:
Capital assets, not being depreciated:
Land $ 9, 178,641 $ $ $ 9, 178,641
Construction in progress 3,831,697 4,343,983 ( 3 ,053,03 8) 5, 122,642
Total assets not being depreciated 13 ,010,338 4,343 ,983 3,053 ,038) 14 ,301 ,283
Capital assets, being depreciated:
Buildings and improvements 46,132,834 749,654 46,882 ,488
Machinery and equipment 10,773 ,596 569,573 335,711) 11,007 ,45 8
lnfrastructtu·e 84,231,649 9,367 ,649 93 ,599,298
Total capital assets being depreciated 141,138,079 10,686,876 335 ,711) 151,489,244
Less accumulated depreciation:
Buildings and improvements ( 15,946,886) 1,413,351) 17,360,237)
Machinery and equipment ( 8,039 ,593) 940,296) 329,072 8,650 ,817)
Improvements other than buildings ( 24,443,849) 1,872,586) 26 ,316 ,435)
Total acctunulated depreciation ( 48,430,328) ( 4,226,233) 329 ,072 52,32 7 ,489)
Total capital assets being depreciated, net 92,707,751 6,460,643 6,639) 99,161,755
Governmental activities capital
assets, net $ 105,718,089 $ 10,804,626 $( 3,059,677) $ 113,463,038
Beginning Ending
Balance Increases Decreases Balance
Business-type activities:
Capital assets, not being depreciated:
Land $ 304,839 $ $ $ 304,839
Construction in progress 1,715 ,997 2,057,160 3 ,773,157
Total assets not being depreciated 2,020,836 2 ,057 ,160 4 ,077,996
Capital assets, being depreciated:
Buildings and improvements 53,922 53,922
Machinery and equipment 2,133 ,927 13,630 138 ,636) 2 ,008 ,921
Improvements other than buildings 72,218 ,901 2,419 ,666 40,886) 74 ,597,681
Total capital assets being depreciated 74,406,750 2,433 ,296 179 ,522) 76,660,524
Less accumulated depreciation:
Buildings and improvements 49,573) 622) 50,195)
Machinery and equipment 1,344,990) 214,630) 138,636 1,420,984)
Improvements other than buildings 31,171,032) 1,813,868) 40 ,886 32,944,014)
Total accumulated depreciation 32,565,595) ( 2,029, 120) 179 ,522 34,415,193
Total capital assets being depreciated, net 41,841,155 404,176 42,245 ,331
Business-type activities capital assets, net $ 43,861 ,991 $ 2 ,461 ,336 $ $ 46,323,327
61
Beginning Ending
Balance Increases Decreases Balance
Component unit:
Capital assets, not being depreciated:
Construction in progress $ 8,055,352 $ 4,162,511 $ $ 12,217.863
Total assets not being depreciated 8,055,352 4,162,511 12,217,863
Capital assets, being depreciated:
Improvements other than buildings 1,845,976 7,265 1,853,241
Total capital assets being depreciated 1,845,976 7,265 1,853,241
Less accumulated depreciation:
Improvements other than buildings 221,374) 41,249) 262,623)
Total accumulated depreciation 221,374) 4 1,249) 262,623)
Total capital assets being depreciated, net 1,624,602 ( 3,984) 1,590,618
Component unit capital assets, net $ 9,679,954 $ 41128,527 $ $ 13,808,481
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities :
General government
Community Development
Fire and rescue
Leisure services
Maintenance
Police
Streets and drainage
Total depreciation expense -governmental activities
Business-type activities:
Water and wastewater
Drainage utility
Total depreciation expense -business-type activities
Construction Commitments
$
$
$
$
476,303
6,193
453,322
968,226
5,029
343,157
1,974,003
4,226,233
1,910,807
118,313
2,029,120
The government has active construction projects as of September 30, 2015. The major projects
are listed as follows:
Remaining
Pro ject S2ent-to-date Commitment
Kingston $ 2,008,659 $ 159,472
Hwy 26 waterline/sewerline relocation project 3,210,223 59,637
Pleasant Run (Mission to Bogart) 1,692,072 319,578
W estem Trails, Area 1 1,157,306 206,898
Reagan Estates, Area 2 451,015 58,901
Total $ 8,519,275 $ 804,486
62
Interfund Transactions
The composition of interfund transfers as of September 30, 2015 , is as follows:
Interfund Transfers
Transfer In
Nonmajor
Capital Debt Government
General Projects Service Funds Total
Transfer Out:
General $ $ 4 ,565,677 $ $ 242,000 $ 4,807,677
Nonmajor governmental 500,985 10,000 510,985
Water and wastewater 1,115,272 44,286 1,159,558
Drainage fee 19,032 19,032
Total Transfers Out $ 1, 115 ,272 $ 4,565 ,677 $ 500,985 $ 315 ,318 $ 6,497,252
The transfer of $1,115,272 from the Water and Wastewater Fund to the General Fund represents
the 2015 Administrative transfer and the franchise fee based on gross water and wastewater
revenue of the prior year's audited financial statements. The transfer of $4,807,677 from the
General Fund to the Capital Projects and nonmajor governmental funds represents transfers for
capital replacement. The transfer of $500,985 from the Crime District to the Debt Service Fund
is for the repayment of debt. All principal and interest is paid from the Debt Service Fund's bank
account.
Long-term Liabilities
General Obligation Bonds
The government issues general obligation bonds to provide funds for the acquisition and
construction of major capital facilities. General obligation bonds have been issued for
governmental activities. The original amount of general obligation bonds issued in prior years
was $29 ,315 ,000.
General obligation bonds are direct obligations and pledge the full faith and credit of the
government. These bonds generally are issued as 20-year serial bonds with equal amounts of
principal maturing each year. General obligation bonds currently outstanding are as follows:
Pur p se Interest Rates Amount
Governmental activities 2%-5% $ 13,855,000
$ 13 855 000
63
Long-term liability activity for the year ended September 30, 2015, was as follows:
Balance Balance AmoW1ts
September 30, September 30, Due Within
2014 Additions Retirements 2015 One Year
Governmental activities
General obligation bonds and
certificates of obligation $ 7,660,000 $ $ 740,000 $ 6 ,92 0,000 $ 770 ,000
Sales tax revenue bonds 7,330,000 395,000 6,935,000 410,000
Capital lease obligations 974,038 324,693 649,345 287,094
Compensated absences 747,932 508,296 467,227 789,001 157,800
Total governmental activities 16,711,970 508,296 1,926,920 15,293,346 1,624,894
Business-t;rnc activities
Revenue bonds and certificates
of obligation 2,225,000 685,000 1,540,000 450,000
Premium on bonds 69,830 9,976 59,854
Compensated absences 101,140 55,926 82,718 74,348 14,870
Total business-type activities 2,395,970 55,926 777,694 1,674,202 464,870
Total primary government $ 19,107,940 $ 564,222 $ 2,704,614 $ 16,967,548 $ 2,089,764
Co m po n en t uni t
Tax increment financing fund
revenue bonds $ 3,670,000 $ $ 565,000 $ 3,105,000 $ 585,000
Bond premium 104,876 20,976 83,900
Total component unit $ 3,774,876 $ $ 585,976 $ 3,188,900 $ 585,000
For the governmental activities, compensated absences are generally liquidated by the General
Fund.
Governmental activities long-term liabilities at September 30, 2015, consisted of the following:
General obligation bonds and certificates of obligation serviced by property tax revenue:
$2,915,000 Series 2006 General Obligation Refunding bonds due in
annual installments of$25,000 to $540,000 through February 15, 2019;
interest at 3.64%.
$4,325,000 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%.
$1,435,000 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%.
Total General Obligation Bonds and Certificates of Obligation
64
$ 2,020,000
4,125,000
775,000
$ 6,920,000
========~
$9,570,000 Series 2013 Colleyville Economic Development Corporation
Refunding and Improvement Sales Tax Revenue Bonds due in annual
installments of $340,000 to $635,000 through February 15, 2029;
interest at 2.88%
Total Revenue Bonds
The City's defeased debt as of September 30, 2015, was $9,795,000.
$ 6,935,000
----'----'--
$ 6,935,000
Business-type activities long-term liabilities at September 30, 2015, consisted of the following:
Water and Wastewater Fund:
$1,890,000 Series 2010 Waterworks and Wastewater System
Refunding Bonds due in annual installments of $155 ,000 to $580,000
through January 1, 2018; interest at 2.00% -3.00%.
Total Water and Wastewater Fund
Drainage Utility Fund:
$1,135,000 Series 2011 Waterworks and Wastewater System
Refunding Bonds due in annual installments of $105,000 to $225,000
through February 15, 2021; interest at 3.47%.
Total Drainage Utility Fund
Total Business-type activities
$ 850,000 -----
$ 850,000 =====
$ 690,000
---~-
$ 690,000 =======
$ 1,540,000 =========
The ordinances authorizing the issuance of Waterworks and Wastewater System Revenue Bonds
created the Interest and Sinking Fund and Reserve Fund. The gross revenue of the waterworks
and wastewater system, after deduction of reasonable expenses of operations and maintenance,
are pledged to such funds in amounts equal to the total annual principal and interest requirements
of the bonds and amounts required to maintain the Reserve Fund. At September 30, 2015, the
City was in compliance with these requirements.
The City's component unit, the Tax Increment Financing District, long-term liabilities at
September 30, 2015, consisted of the following:
Tax Increment Financing District
$4,225,000 Series 2011 Refunding Bonds due in installments of
$490,000 to $665,000 beginning in 2012 through February 15, 2020;
interest at 2.0% to 4.0%.
Total Tax Increment Financing District
65
$ 3,105,000
$ 3 105,000 ========
September 30,
2016
2017
2018
2019
2020
2021-2025
2026-2030
September 3 0,
2016
2017
2018
2019
2020
2021-2025
S e ptember 30 ,
2016
2017
2018
2019
2020
Capital Leases
$
$
Governmental Activities
General
Obligation Bonds and
Certificates of Obli~ation Revenue Bonds
Principal Interest Principal Interest
770,000 $ 251,258 $ 410,000 $ 193,824
795,000 223,179 420,000 181,872
810,000 194,388 425,000 169,704
850,000 163,828 445,000 157,176
320,000 141,400 460,000 144,144
2,290,000 455,000 2,500,000 511,632
1,085,000 43 ,900 2,275,000 133,560
6,920,000 $ 1,472 ,953 $ 6,935,000 $ 1,49 '1 91 2
Business-type Activities
Revenue Bonds
Principal Interest
$ 450,000 $ 42,446
460,000 28,291
265,000 16,899
115,000 10,670
125,000 6,506
125,000 2,169
$ 1,540,000 $ 106,981
Discretely Presented Component Unit -
Tax Increment Financing Fund
Revenue Bonds
Principal Interest
$ 585,000 $ 97,425
600,000 79,650
615,000 61,425
640,000 39,400
665,000 13,300
$ 3,105,000 $ 291,200
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 accounting purposes
and, therefore, have been recorded at the present value of its future minimum lease payments as
of the inception date.
66
The assets acquired through capital leases are as follows:
Asset:
Machinery and equipment
Less: accumulated depreciation
Total
Governmental
Activities
$ 2,030,652
( 618 843)
$ 1,411,809
The future m1mmum lease obligations and the net present value of these mm1mum lease
payments as of September 30, 2015, were as follows:
2016
2017
2018
2019
Total minimum lease payments
Less: amount representing interest
Present value of minimum lease payments
Defined Benefit Pension Policies
Plan Descriptions
Governmenta l
Activities
$
$
314,086
161,419
116,839
116,839
709 18 3
59 ,83 8)
64 9 ,3 4 5
The City participates as one of 860 plans in the nontraditional, joint contributory, hybrid defined
benefit pension plan administered by the Texas Municipal Retirement System (TMRS). TMRS is
an agency created by the State of Texas and administered in accordance with the TMRS Act,
Subtitle G, Title 8, Texas Government Code (the TMRS Act) as an agency multiple-employer
retirement system for municipal employees in the State of Texas . The TMRS Act places the
general administration and management of the System with a six-member Board of Trustees.
Although the Governor, with the advice and consent of the Senate, appoints the Board, TMRS is
not fiscally dependent on the State of Texas. TMRS's defined benefit pension plan is a tax-
qualified plan under Sections 401(a) of the Internal Revenue Code. TMRS issues a publicly
available comprehensive annual financial report (CAFR) that can be obtained at www.tmrs.org.
All eligible employees of the City are required to participate in TMRS.
67
Benefits Provided
TMRS provides retirement, disability, and death benefits. Benefit provisions are adopted by the
governing body of the City, within the options available in the state statutes governing TMRS.
At retirement, the benefit is calculated as if the sum of the employee's contributions, with
interest, and the City-financed monetary credits with interest were used to purchase an annuity.
Members may choose to receive their retirement benefit in one of seven payments options.
Members may also choose to receive a portion of their benefit as a Partial Lump Sum
Distribution in an amount equal to 12, 24, or 36 monthly payments, which cannot exceed 75% of
the member's deposits and interest.
A summary of plan provisions for the City are as follows:
Employee deposit rate
Matching ratio (City to employee)
Years required for vesting
Service retirement eligibility
Updated service credit
Annuity increase to retirees
Employees covered by benefit terms
7%
2 to I
5
20 years to any age,
5 years at age 60 and above
100% repeating, transfers
0%ofCPI
At the December 31, 2014 valuation and measurement date, the following employees were
covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefits
Inactive employees entitled to but not yet receiving benefits
Active employees
Contributions
99
108
180
387
The contribution rates for employees in TMRS are either 5%, 6%, or 7% of employee gross
earnings, and the City matching percentages are with 100%, 150%, or 200%, both as adopted by
the governing body of the city. Under the state law governing TMRS, the contributions rate for
each city is determined annually by the actuary, using the Entry Age Normal (EAN) actuarial
cost method. The actuarially determined rate is the estimated amount necessary to finance the
cost of benefits earned by employees during the year, with an additional amount to finance any
unfunded accrued liability.
68
Employees for the City were required to contribute 7% of their annual gross earnings during the
fiscal year. The contribution rates for the City were 6.84% and 7.69% in calendar years 2014 and
2015, respectively. The city's contributions to TMRS for the year ended September 30, 2015,
were $868,363, and were equal to the required contributions.
Net Pension Liability
The city's Net Pension Liability (NPL) was measured as of December 31, 2014, and the Total
Pension Liability (TPL) used to calculate the Net Pension Liability was determined by an
actuarial valuation as of that date.
Actuarial assumptions:
The Total Pension Liability in the December 31, 2014 actuarial valuation was determined using
the following actuarial assumptions:
Inflation
Overall payroll growth
Investment Rate of Return
3.0% per year
3.0% per year
7.0%, net of pension plan investment expense, including inflation
Salary increases were based on a service-related table. Mortality rates for active members,
retirees, and beneficiaries were based on the gender-distinct RP2000 Combined Healthy
Mortality Table, with male rates multiplied by 109% and female rates multiplied by 103%. The
rates are projected on a fully generational basis by scale BB to account for future mortality
improvements. For disabled annuitants, the gender-distinct RP2000 Disabled Retiree Mortality
Table is used, with slight adjustments.
Actuarial assumptions used in the December 31, 2014 valuation were based on the results of
actuarial experience studies. The experience study in TMRS was for the period January 1, 2006
through December 31, 2009, first used in the December 31, 2010 valuation. Healthy post-
retirement mortality rates and annuity purchase rates were updated based on a Mortality
Experience Investigation Study covering the 2009 through 2011, and the dated December 31,
2013. These assumptions were first used in the December 31, 2013 valuation, along with a
change to the Entry Age Normal (EAN) actuarial cost method. Assumptions are reviewed
annually. No additional changes were made for the 2014 valuation.
The long-term expected rate of return on pension plan investments is 7.0%. The pension plan's
policy in regard to the allocation of invested assets is established and may be amended by the
TMRS Board of Trustees. Plan assets are managed on a total return basis with an emphasis on
both capital appreciation as well as the production of income, in order to satisfy the short-term
and long-term funding needs ofTMRS.
69
The long-term expected rate of return on pension plan investments was determined using a
building-block method in which best estimate ranges of expected future real rates of return
(expected returns, net of pension plan investment expenses and inflation) are developed for each
major asset class. These ranges are combined to produce the long-term expected rate of return by
weighting the expected future real rates of return by the target asset allocation percentage and by
adding expected inflation. The target allocation and best estimates of arithmetic real rates return
for each major assets class are summarized in the following table:
Asset Class
Domestic Equity
International Equity
Core Fixed Income
Non-Core Fixed Income
Real Return
Real Estate
Absolute Return
Private Equity
Total
Discount Rate
Target Allocation
17.5%
17.5%
30.0%
10.0%
5.0%
10.0%
5.0%
5.0%
100.0%
Long-Term Expected Real Rate of Return (Arithmetic)
4.80%
6.05%
1.50%
3.50%
1.75%
5.25%
4.25%
8.50%
The discount rate used to measure the Total Pension Liability was 7.0%. The projection of cash
flows used to determine the discount rate assumed that employee and employer contributions
will be made at the rates specified in statue. Based on that assumption, the pension plan's
Fiduciary Net Position was projected to be available to make all projected future benefit
payments of current active and inactive employees. Therefore, the long-term expected rate of
return on pension plan investments was applied to all period of projected benefit payments to
determine the Total Pension Liability.
70
Changes in the Net Pension Liability
Increase (Decrease)
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability
(a) (b) (a)-(b)
Balance at 12/31 /2013 $ 42,047,025 $ 46,456,782 $( 4,409,757)
Changes for the year:
Service cost 1,598,908 1,598,908
Interest 2,938,763 2,938,763
Difference between expected and actual experience 136,216 136,216
Contributions -employer 745,874 745,874)
Contributions -employee ( 1,728,299) 763,324 ( 2,491,623)
Net investment income 2,657,437 2,657,437)
Benefit payments, including refunds of employee
contributions ( 1,728,299) 1,728,299
Administrative expense ( 27,747) 27,747
Other changes ( 2,281) 2,281
Net changes 2,945,588 2,408,308 537,280
Balance at 12/31/2014 $ 44,992,613 $ 48,865,090 $( 3,872,477)
The following presents the net pension liability of the City, calculated using the discount rate of
7.0%, as well as what the City's net pension liability would be if it were calculated using a
discount rate that is I-percentage-point lower (6.0%) of I-percentage-higher (8.0%) than the
current rate:
1% Decrease in
Discount Rate (6.0%) Discount Rate (7.0%)
1 % Increase in
Discount Rate (8.0%)
City's net pension
liability $
Pension Plan Fiduciary Net Position
2,425 ,275 $( 3,872,477) $( 9,066,776)
Detailed information about the pension plan's Fiduciary Net Position is available in a separately-
issued TMRS financial report. The report may be obtained on the Internet at www.tmrs.org.
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions. For the year ended September 30, 20I5, the City recognized pension
expense of $699,427.
71
At September 30, 2015, the City reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
Differences between expected and actual
economic experience
Difference between projected and actual
investment earnings
Total
Deferred
Outflows of Resources
$ 108,097
475 ,630
$ 583,727 ======'-===
Other amounts reported as deferred outflows and inflows of resources related to pensions will be
recognized in pension expenses as follows:
Year ended Dec 31
2015 $ 147,027
2016 147,027
2017 147,027
2018 142,646
$ 583,727
Subsequent event
Pursuant to TMRS policy of conducting experience studies every four years, the TMRS Board at
their July 31, 2015 meeting determined that they would be changing certain actuarial
assumptions including reducing the long term expected rate of return from the current 7% to
6.75% and changing the inflation assumption from 3% to 2.5%. Reduction of expected
investment return and related discount rate will increase projected pension liabilities. Reducing
the inflation assumption reduces liabilities as future annuity levels and future cost of living
adjustments are not projected to be as large as originally projected. While the actual impact on
the City's valuation for December 31, 2015 is not known the City does expect some downward
pressure on its funded status and upward pressure on its 2017 actuarially determined contribution
(ADC) due to this change.
Water and Wastewater Contracts
The City has two contracts with the Trinity River Authority of Texas (TRA) for the purchase of
treated water and for the transportation, treatment and disposal of sanitary sewage and other waste.
The initial term of the contracts are 35 years (water -April 2014) and 50 years (wastewater -
November 2023), however both contain language that they will continue in effect until all related
bonds and refunding bonds in lieu of debt have been paid. While the provisions of each of the
contracts vary, each contract basically requires the City to pay varying amounts based on the costs
associated with water purchased and sewage transported and/or treated and disposed. The cost
includes the City's proportionate share ofTRA's operating and maintenance expenses, related debt
service costs, and certain other miscellaneous charges. Purchases of treated water and charges for
the transportation, treatment and disposal of sewage and other wastes during fiscal year 2015
amounted to approximately $7,727,104 and $2,102,605, respectively.
72
Advances from Developers
Developers are required by ordinance to construct perimeter streets and related storm drainage
facilities. The developer may request a waiver from the Council for the construction
requirements and instead deposit escrow funds with the City equal to one-half of the estimated
cost of construction, which are utilized by the City to complete the project at some later date. At
September 30, 2015, developers had escrowed $3,023,466 with the City in connection with
developer agreements.
Contingent Liabilities
The City has been named as a defendant or co-defendant in a number of legal actions. While the
outcome of these cases is not known at this time, City management believes that any awards to
insured parties which must be paid in excess of amounts covered by insurance will not be
material to the financial position of the City.
Risk Financing and Insurance
The City is exposed to various risks of loss related to torts, theft of, damage to, and destruction
of assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal
year 1974, the City joined the Texas Municipal League Workers Compensation Joint Insurance
Fund for risks related to employees. During the fiscal year 1992, the City joined the Texas
Municipal League Joint Insurance Fund for risks related to general liability, property and errors
and omissions. Premiums are paid to the Pool, which retains a limit of loss. Reinsurance
companies insure the risks beyond those limits. The City retains, as a risk, only the deductible
amount of each policy. There have been no significant reductions in insurance coverage and no
settlements exceeded insurance coverage in the past three fiscal years.
Other PostempJoyment 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) known 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.
The City contributes to SDBF at a contractually required rate as determined by an annual
actuarial valuation. The rate is equal to the cost of providing one-year term life insurance. The
funding policy for the SDBF program is to assure that adequate resources are available to meet
all death benefit payments for the upcoming year; the intent is not to pre-fund retiree life
insurance during employees' entire careers.
73
The City's contributions to the TMRS SDBF for the years ended 2015, 2014, and 2013 were
$17,776, 16,837, and $15,132, respectively, which equaled the required contributions each year.
Schedule of Contribution Rates
Annual Actual
Accounting Required Contribution Percentage
Year Contribution Made of ARC
Ending (Rate) (Rate) Contributed
09/30/13 .015% .015% 100%
09/30/14 .016% .016% 100%
09/30/15 .015% .015% 100%
74
REQUIRED
SUPPLEMENT ARY INFORMATION
75
CITY OF COLLEYVILLE, TEXAS
SCHEDULE OF CHANGES IN NET PENSION LIABILITY
AND RELATED RATIOS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Plan Year
A. Total pension liability
Service Cost
Interest (on the Total Pension Liability)
Difference between expected and actual experience
Benefit payments, including refunds of employee contributions
Net change in total pension liability
Total pension liability -beginning
Total pension liability -ending (a)
B. Plan fiduciary net position
Contributions -Employer
Contributions -Employee
Net Investment Income
Benefit payments, including refunds of employee contributions
Administrative Expenses
Other
Net change in pl an fiduciary net position
Plan fiduciary net position -beginning
Plan fiduciary net position -ending (b)
C. Net pension liability -ending (a) -(b)
D. Plan fiduciary net position as a percentage of total pension liability
E. Covered employee payroll
F. Net position liability as a percentage of covered employee payroll
76
2014
$ 1,598,908
2,938 ,763
136,216
( 1,728,299)
2 ,945,588
42,047 ,025
$ 44,992,613
$ 745,874
763,324
2,657,437
( 1,728,299)
( 27 ,747)
( 2,281)
2 ,408,308
46,456,782
$ 48,865,090
$( 3,872 ,477)
108 .61 %
$ 10 904 63 5
-35.5 1%
CITY OF COLLEYVILLE, TEXAS
SCHEDULE OF CONTRIBUTIONS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Fiscal Year 2014 2015
Actuarial determined contribution $ 738,034 $ 868,363
Contributions in relation to the actuarially determined contribution 738,034 868,363
Contribution deficiency (excess)
Covered employee payroll 10,707,890 11,640,489
Contributions as a percentage of covered employee payroll 6.89% 7.46%
Valuation Date:
NOTES TO SCHEDULE OF CONTRIBUTIONS
Actuarially determined contribution rates are calculated as of December 31 and become
effective in January 13 months later.
Methods and Assumptions Used to Determine Contribution Rates:
Actuarial Cost Method
Amortization Method
Remaining Amortization
Period
Asset Valuation Method
Inflation
Salary Increases
Investment Rate of Return
Retirement Age
Mortality
Other Information:
Notes
Entry Age Normal
Level Percentage of Payroll, Closed
25 years
10 Year smoothed market; 15% soft corridor
3.00%
3.50% to 12.00% including inflation
7.00%
Experience-based table of rates that are specific to the City's plan of benefits. Last updated
for the 2010 valuation pursuant to an experience study of the period 2005-2009.
RP2000 Combined Mortality Table with Blue Collar Adjustment with male rates multiplied
by 109% and female rates multiplied by 103% and projected on a fully generational basis
of with BB.
There were no benefit changes during the year.
77
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for specific revenues that are legally restricted to
expenditure for particular purposes.
Voluntary Park -This fund is used to account for the operations for which voluntary
contributions by citizens are used. Contributions are used primarily to support park
activities.
Voluntary Library -This fund is used to account for the operations for which voluntary
contributions by citizens are used. Contributions are used primarily to support library
activities.
Police Asset Forfeiture -This fund is used to account for activity related to seizure of assets
in criminal-related activities.
Tree Preservation -This fund is used to account for operations related to replacement of
trees, which are eliminated due to commercial development. Contributions are received from
entities that are developing the property.
Library Donation -This fund is used to account for private and corporate donations for
capital purchases related to the library building for the City.
Recreational Event -This fund is used to account for activities related to special events for
the City.
Colleyville Center Development -This fund is used to account for contributions received to
construct a community center.
Recycling -This fund is used to account for the promotion of recycling activities in the City
of Colleyville. Contributions are received from the holder of the City's recycling franchise.
LEOSE (Law Enforcement Officer Standards and Education) -This fund is used to
account for activities related to the continuing education of qualified law enforcement
officers as funded by the State of Texas LEOSE Account.
Colleyville Economic Development -This fund is used to account for the use of bond
proceeds and sales tax revenues for municipal park improvements, the purchase of land and
equipment for additional neighborhood parks and for the construction of a community center
and library.
Crime District -This fund is used to account for the Colleyville Crime Control and
Prevention District formed to act on behalf of the City for financing the development of
crime control throughout the City.
78
Kidsville Maintenance -This fund is used to account for contributions received for the
maintenance of Kidsville Playground.
Special Donations -This fund is used to account for various donations made to the City for
specific projects.
Court Technology -This fund is used to account for the collection and use of fines collected to
be specifically used on technology for the court.
Court Security -This fund is used to account for the collection and use of fines collected to be
specifically used for security purposes.
TDPA Grant -This fund is used to account for grant proceeds received for the acquisition of
equipment and expenditures relating to fire and rescue.
Public Art -This fund is used to account for the acquisition of art to be placed in City owned
facilities with high public visibility.
Juvenile Case Manager -This fund is used to account for staff, whose primary role is handling
juvenile defendants in terms of teen court dockets, all school violations including truancy, failure
to attend school and parental noncompliance violations, and mandatory classes for drug, tobacco
and alcohol defendants, as permitted by state statute.
CAPITAL PROJECTS FUNDS
Capital Projects Funds are used to account for the acquisition and construction of major capital
facilities other than those financed by proprietary funds and trust funds.
Colleyville Tomorrow Fund -is used to account for proceeds received on gas leases on City-
owned property to be used for capital purchases.
Parks Tomorrow Fund -This fund is used to account for proceeds received on gas leases on
City-owned parks property for parks capital projects.
Park Land Dedication Fund -This fund is used to account for the acquisition of land for new
park sites and to make improvements to or expand existing parks to better serve new
development. Fees collected from the developers of residential and commercial development
finance the improvements.
Colleyville Economic Development Corporation (CEDC) -This fund is used to account for
financial resources to be used for the acquisition or construction or CEDC capital facilities.
Financing is provided primarily by the revenue from certificate of obligation bonds.
Capital and Cable Equipment Replacement -This fund is used to account for the replacement
of cable equipment and other capital equipment.
Kimzey Park -This fund is used to account for the construction of Kimzey Park. The source of
funding was a Texas Parks and Wildlife state grant.
79
ASSETS
Cash and cash equivalents
Investments
Due from other governments
Accrued interest
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Advances from developers
Total liabilities
FUND BALANCES
Restricted
Committed
Assigned
Total fund balances
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2015
Special Revenue Funds
Voluntary
Voluntary Park Library
$ 1,310 $ 51,257
849,617 359,532
1,299 820
852,226 411,609
6,848
6,848
852,226 404,761
852,226 404,761
Total liabilities and fund balances $ 852 226 $ 411,609
80
Police Asset
Forfeiture
$ 4,092
4,092
4,092
4,092
$ 4,092
Special Revenue Funds
Colleyville
Tree Library Recreational Center
Preservation Donation Event Development Recycling LEOSE
$ 38,459 $ 136,301 $ 5,449 $ 5,857 $ 1,627 $ 1,711
38,459 136,301 5,449 5,857 1,627 1,711
1,240
13,724
13,724 1,240
135,061 5,857 1,711
24,735
5,449 1,627
24,735 135 ,061 5,449 5 ,857 1,627 l 711
$ 38,459 ======= $ 136,301
===~=
$ 5,449 ======= $ 5,857 ======= $ 1,627 ======= $ 1,711 =======
81
ASSETS
Cash and cash equivalents
Investments
Due from other governments
Accrued interest
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Advances from developers
Total liabilities
FUND BALANCES
Restricted
Committed
Assigned
Total fund balances
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
SEPTEMBER 30, 2015
Special Revenue Funds
Colleyville
Economic
Development Crime District
$ 2,146,379 $ 1,233,158
510,424
319,352 272,160
524
2,976 ,679 I 505 ,3 18
785 79
23,596
785 23,675
2,975,894 1,481,643
2 ,975,894 1,481,643
Total liabilities and fund balances $ 2,976 ,679 $ 1,505,318
82
Kids ville
Maintenance
$ 20,251
20 251
20,251
20,251
$ 20 ,251
$
Special
Donations
72,303
72,303
72,303
72,303
$===7=2-"=,3=0=3
$
Court
Technology
61,707
61 ,707
61,707
61 707
$===6=1.f., 7=0=7
Special Revenue Funds
Court Security TDPAGrant
$ 73,838 $ 8,133
73 ,838 8,133
878
878
72,960 8,133
72,960 8,133
$===7=3==,8=3=8 $ 8,133 =======
83
Public Art
$ 7,904
7,904
7 904
7,904
$ 7,904 ======
$
Juvenile Case
Manager
22,551
22,551
13
2,304
2,317
20,234
20,234
$ 22,551 ========
ASSETS
Cash and cash equivalents
Investments
Due from other governments
Accrued interest
Total assets
LIABILITIES
Accounts payable
Accrued liabilities
Advances from developers
Total liabilities
FUND BALANCES
Restricted
Committed
Assigned
Total fund balances
CITY OF COLLEYVILLE, TEXAS
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
SEPTEMBER 30, 2015
Capital Project Funds
Colleyville Parks
Tomorrow Tomorrow
$ 1,907,749 $ 1,197,656
375,326
462
2,283,537 1,197,656
2,283,537 1,197,656
2,283,537 1,197,656
Total liabilities and fund balances $ 2 283 !537 $ 1,197,656
84
Park Land
Dedication
$ 200,510
2,114,383
2,949
2,317,842
2,317,842
2,317,842
$ 2,317,842
Ca.12ita l Proj ect Funds
Capital and
Cable Total
CEDC Capital Equipment Governmental
Proj ect Replacement Kimzey Park Funds
$ 65 ,794 $ 349,998 $ 3,576 $ 7,617,570
449,861 4,659,143
591,512
645 6,699
65,794 800,504 3,576 12 ,874,924
2,545 11,510
26,778
13 724
2,545 52,012
4,859,846
65,794 3,576 7,150,127
797 959 812 ,939
65,794 797 ,959 3,576 12,822,912
$ 65,794 $ 800,504 $ 3,576 $ 12,874,924
85
CITY OF COLLEYVILLE, TEXAS
COMBINING ST A TEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Special Revenue Funds
Voluntary Police Asset
Voluntary Park Libra!l'. Forfeiture
REVENUES
Taxes $ $ $
Fees and fines
Intergovernmental
Charges for services
Donations 150,092 150,090
Investment earnings 2,146 1,961
Miscellaneous
Total revenues 152,238 152,051
EXPENDITURES
Current:
General government
Community development and engineering
Fire and rescue
Leisure services 61,556 151,391
Municipal court
Police 96
Debt service:
Principal
Interest and other charges
Capital outlay
Total expenditures 61,556 151,391 96
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 90,682 660 ( 9~
OTHER FINANCING SOURCES (USES)
Proceeds from long-term debt, net
Payment to bond escrow agent
Sale of capital assets
Transfers in
Transfers out
Total other financing sources and uses
NET CHANGE IN FUND BALANCES 90,682 660 ( 96)
FUND BALANCES, BEGINNING 761 544 404,101 4,188
FUND BALANCES, ENDING $ 852,226 $ 404,761 $ 4,092
86
$
(
(
Tree
Preservation
820
820
820)
820)
25 ,555
$ 24,735 ==="""==
$
(
(
Library
Donation
1,830
21,068
22.898
23,096
2 3 096
198)
198)
135,259
$ 135,061
===""'==
Special Revenue Funds
$
Recreational
Event
4,900
4,900
3,926
3 ,926
974
974
4,475
$ 5,449 ==="'===
87
Colleyville
Center
Development
$
5,857
$ 5,857 ===""'==
Recycling
$
15,000
15,000
15,000
15.000
1,627
$ 1,627 =======
$
LEOSE
3,970
3,970
1,253
2,063
3,3 16
654
654
1,057
$ 1,711
========
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENT AL FUNDS
(Continued)
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Special Revenue Funds
Colleyville
Economic Kidsville
Development Crime District Maintenance
REVENUES
Taxes $ 1,725,811 $ 1,523,470 $
Fees and fines
Intergovernmental
Charges for services
Donations
Investment earnings 2,259 987
Miscellaneous
Total revenues 1,728,070 1,52 4,457
EXPENDITURES
Current:
General government 51,949
Community development and engineering
Fire and rescue
Leisure services 237,477 175
Municipal court
Police 729,301
Debt service:
Principal 395,000
Interest and other charges 205,416
Capital outlay 596 ,329 218,642
Total expenditures 1,486 171 947,943 175
EXCESS (DEFICIENCY) OF REVENUES
OVER(UNDER)EXPENDITURES 241,899 576,514 ( 175)
OTHER FINANCING SOURCES (USES)
Proceeds from long-term debt, net
Payment to bond escrow agent
Sale of capital assets 16 800
Transfers in
Transfers out ( 510,985)
Total other financing sources and uses ( 494 , 185 )
NET CHANGE IN FUND BALANCES 241,899 82329 ( 175)
FUND BALANCES, BEGINNING 2,733 ,995 1,3 99,314 20,426
FUND BALANCES, ENDING $ 2,975,894 $ 1,481,643 $ 20 ,251
88
$
Special
Donations
3,367
21,010
24,377
844
10,139
3,613
14,596
9,781
9,781
62,522
$ 72,303 =========
$
Court
Technology
32,148
53,560
85 ,708
52,67 3
52,673
33,035
33,035
28,672
$===61,,,;,,,7=0=7
Special Revenue Funds
Court Security
$
34,394
34,394
34,080
34,080
314
314
72,646
$===72,,,;,,,9=6=0
89
TDPA Grant
$
8,133
$===8==, 1=3=3
Public Art
$
7,904
$==7==,9=0=4
Juvenile Case
Manager
$
$
67,012
67,012
55,226
55 ,226
11 ,786
11,786
8,448
20,234
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
(Continued)
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Capital Project Funds
Colleyville Parks Park Land
Tomorrow Tomorrow Dedication
REVENUES
Taxes $ $ $
Fees and fines
Intergovernmental
Charges for services
Donations 634,122
Investment earnings 3,697 1,292 4,685
Miscellaneous
Total revenues 3,697 1,292 638,807
EXPENDITURES
Current:
General government
Community development and engineering
Fire and rescue
Leisure services 5,291
Municipal court
Police
Debt service:
Principal
Interest and other charges
Capital outlay 2,132 352,291
Total expenditures 7,423 352,291
EXCESS (DEFICIENCY) OF REVENUES
OVER(UNDER)EXPENDITURES { 3,726) 1,292 286,516
OTHER FINANCING SOURCES (USES)
Proceeds from long-term debt, net
Payment to bond escrow agent
Sale of capital assets
Transfers in 63,318
Transfers out
Total other financing sources and uses 63,318
NET CHANGE IN FUND BALANCES 59,592 l,292 286,516
FUND BALANCES, BEGINNING 2,223,945 1,196,364 2,031,326
FUND BALANCES, ENDING $ 2,283,537 $ 1,197,656 $ 2,317,842
90
CEDC Capital
Project
$
10,398
1,250
8,801
60,582
81,031
( 81 ,031)
( 81,031)
146,825
$ 65,794
Capital Project Funds
Capital and
Cable
Equipment
Replacement
$
1,214
1,214
109,623
14,966
82,568
207,157
( 205,943)
252,000
252 ,000
46,057
751,902
$ 797 ,959
Kimzey Park
$ $
(
3,576
$ 3,576 $
91
Total
Governmental
Funds
3,249,281
133,554
9,167
53,560
981,282
18,241
15,000
4 ,460,085
186,970
1,250
2,097
502,672
141,979
750,039
395,000
205,416
1,312,544
3,497,967
962,118
16 ,8 00
3 15,318
510 ,985)
J 78 ,867)
783,251
12,039,661
12,822,9 12
THIS PAGE INTENTIONALLY LEFT BLANK
92
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, 2015
Budget Actual
REVENUES
Taxes $ 727,816 $ 808,761
Investment earnings 1,975 965
Total revenues 729 ,791 809,726
EXPENDITURES
Debt service:
Principal retirement 1,064,693 1,064,693
Interest and fiscal charges 318,749 318 ,998
Total expenditures 1,383,442 1,383,691
EXCESS (DEFICIENCY) OF REVENUES
OVER(UNDER)EXPENDITURES ( 653 651 ( 573 ,965)
OTHER FINANCING SOURCES
Transfers in 500,985 500,985
Total other financing sources 500,985 500,985
NET CHANGE IN FUND BALANCE ( 152,666) ( 72,980)
FUND BALANCE, BEGINNING 902,490 902,490
FUND BALANCE, ENDING $ 749,824 $ 829,510
93
Varianc e with
Budget -
Positive
(Negativ e)
$ 80,945
( 1 010)
79 ,935
{ 249)
( 24 9)
79 ,686
79,686
$ 79 ,686
THIS PAGE INTENTIONALLY LEFT BLANK
94
AGENCY FUNDS
Employee Activity Fund -This fund is used to account for funds held by the City for the benefit
of employees of the City.
Sesquicentennial Fund -This fund is used to account for funds held by the City for the benefit
of the City of Colleyville's historical purposes.
95
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF FIDUCIARY NET POSITION
AGENCY FUNDS
SEPTEMBER 30, 2015
Employee
Activity Sesquicentennial
Fund Fund
ASSETS
Cash and cash equivalents $ 6,330 $ 18,988
Total assets $ 6,330 $ 18,988
LIABILITIES
Due to other agencies and individuals $ 6,330
--~-
$ __ 18---'--,9_8_8
Total liabilities $~==6"""=,3=3=0 $ 18 988 ===~-
96
Total
$ 25,318
$ 25,318
$ __ 2_5...._,3_1_8
$ 25,318
=~======
Cash and cash equivalents
Total assets
CITY OF COLLEYVILLE, TEXAS
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES
AGENCY FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Employee Activity Fund
Balance
10/01/14 Additions Deletions
$ 7,106 $ 3,697 $ 4,473
$ 7,106 $ 3,697 $ 4,473
Due to other agencies and individuals $ 7,106 $ 3,697 $ 4,473
Total liabilities $ 7,106 $ 3,697 $ 4,473
Sesquicentennial Fund
Balance
10/01/14 Additions Deletions
Cash and cash equivalents $ 18,405 $ 583 $
Total assets $ 18,405 $ 583 $
Due to other agencies and individuals $ 18,405 $ 583 $
Total liabilities $ 18,405 $ 583 $
Total Agency Funds
Balance
10/01/14 Additions Deletions
Cash and cash equivalents $ 25 ,511 $ 4,280 $ 4 473
Total assets $ 25,511 $ 4,280 $ 4,473
Due to other agencies and individuals $ 25 ,511 $ 4,280 $ 4,473
Total liabilities $ 25,511 $ 4,280 $ 4,473
97
Balance
09/30/15
$ 6,330
$ 6,330
$ 6,330
$ 6,330
Balance
09/30/15
$ 18 ,988
$ 18 ,988
$ 18,988
$ 18,988
Balance
09/30/15
$ 25,318
$ 25,318
$ 25 ,318
$ 25 ,318
THIS PAGE INTENTIONALLY LEFT BLANK
98
STATISTICAL SECTION
This part of the City of Colleyville, Texas' comprehensive annual financial report
presents detailed information as a context for understanding what the information in the
financial statements, note disclosures, and required supplementary information says about
the government's overall financial health.
Contents Page
Financial Trends 100
These schedules contain trend information to help the reader
understand how the government's financial performance and well-
being have changed over time.
Revenue Capacity 110
These schedules contain information to help the reader assess the
government's most significant local revenue source, the property
tax.
Debt Capacity 115
These schedules present information to help the reader assess the
affordability of the government's current levels of outstanding debt
and the government's ability to issue additional debt in the future.
Demographic and Economic Information 122
These schedules offer demographic and economic indicators to
help the reader understand the environment within which the
government's financial activities take place.
Operating Information 124
These schedules contain service and infrastructure data to help the
reader understand how the information in the government's financial
report relates to the services the government provides and the
activities it performs.
Sources: Unless otherwise noted, the information in these schedules is derived from the
comprehensive annual financial reports for the relevant year.
99
CITY OF COLLEYVILLE, TEXAS
NET POSITION BY COMPONENT
(Accrual Basis of Accounting)
Fiscal Year
2006 2007 2008
Governmental activities:
Net investment in capital assets $ 66,991,146 $ 71,824,719 $ 77,484,725
Restricted for:
Debt service 937,578 1,032,586 889,689
Court security and technology
Grant programs
Leisure services
Economic development
Streets and drainage
Police
Unrestricted L9002 ,816 21,987,778 21,862,136
Total governmental activities net position $ 86,931,540 $ 94,845,083 $ 100,236,550
Business-type activities:
Net investment in capital assets $ 25,919,619 $ 32,804,703 $ 39,442,148
Restricted for:
Debt service 882,821 1,080,751 1,024,349
Unrestricted 19,253,772 13 626,2 74 7,837,790
Total business-type activities net position $ 46,056,212 $ 47,511,728 $ 48,304,287
Primary government:
Net investment in capital assets $ 92,910,765 $ 104,629,422 $ 116,926,873
Restricted for:
Debt service 1,820,399 2,113,337 1,914,038
Court security and technology
Grant programs
Leisure services
Economic development
Streets and drainage
Police
Unrestricted 38,256,588 35,614,052 29,699,926
Total primary government net position $ 132,987,752 $ 142,356,811 $ 148,540,837
Note: The City implemented GASB 54 in fiscal year 2011 to provide clearer fund balance classifications .
Prior years were not restated.
100
TABLE 1
Fiscal Year
2009 2010 2011 2012 2013 2014 2015
$ 79,243,497 $ 81,970,674 $ 83,166,142 $ 83,211,988 $ 84,414,252 $ 89,754,051 $ 98,958,693
1,040,896 1,057,699 1,106,893 1,159,092 857,143 831,073 744,295
153,420 91,637 101,411 109,766 154,901
23,208 21,116 16,489 9,190 9,844
201,184 207,736 207,770 224,064 233,472
1,863,900 1,998,845 2,277,373 2,733,995 2,975,894
6,428,106 8, 192,568 8,432,946 12,188,836 13,838,090
994,913 1,143,454 1,223,271 1,403,502 1,485,735
27,498,864 25,936,703 17,837,593 19,559.719 18,680,620 17,930,939 20,681,413
$ 107,783,257 $ 108,965 ,076 $ 111,775,359 $ 115,586,155 $ 116,211,275 $ 125,185,416 $ 139,082,337
$ 39,174,562 $ 39,080,043 $ 38,892,098 $ 38,395,708 $ 39,269,943 $ 41,567,161 $ 44,823,618
987,181 983,225 662,050
8,127.736 7,747,336 10,111,776 12,332,238 13,702,724 14,827 ,594 15,260,882
$ 48,289,479 $ 47,810,604 $ 49,665,924 $ 50,727,946 $ 52,972,667 $ 56,394,755 $ 60,084,500
$ 118,418,059 $ 121,050,717 $ 122,058,240 $ 121,607,696 $ 123,684, 195 $ 131,321,212 $ 143,782,311
2,028,077 2,040,924 1,768,943 1, 159,092 857,143 831,073 744,295
153,420 91,637 101,411 109,766 154,901
23,208 21,116 16,489 9,190 9,844
201,184 207,736 207,770 224,064 233,472
1,863,900 1,998,845 2,277,373 2,733,995 2,975,894
6,428,106 8,192,568 8,432,946 12,188,836 13,838,090
994,913 1,143,454 1,223,271 1,403,502 1,485,735
35,626,600 33,684,039 27,949,369 31,891,957 32,383,344 32,758,533 35,942,295
$ 156,072,736 $ 156,775,680 $ 161,441,283 $ 166,314,101 $ 169,183,942 $ 181,580,171 $ 199,166,837
101
CITY OF COLLEYVILLE, TEXAS
CHANGES IN NET POSITION
(Accrual Basis of Accounting)
Fiscal Year
2006 2007 2008
EXPENSES
Governmental activities:
General government $ 2,729,064 $ 2,438,051 $ 2,814,874
Community Development and Engineering 1,267,136 1,523,768 1,481,124
Fire and rescue 3,814,585 3,790,831 3,958, 111
Leisure services 3,513,992 3,525,094 4,033,105
Maintenance 383,504 434,984 417,265
Municipal court 270,345 262,198 324,020
Police 3,801,644 4,232,185 4,657,438
Streets and drainage 2,932,465 2,890,995 3,129,730
Interest on long-term debt 1,142,043 1,032,374 1,101,714
Total governmental activities expenses 19,854,778 20,130,480 21,917,381
Business-type activities:
Water and wastewater 9,428,373 9,337,282 11,179,548
Drainage 548,963 671,773 593,600
Interest on long-term debt 440,703 400,752 362 642
Total business-type activities expenses 10,418,039 10,409,807 12,135,790
Total primary government program expenses $ 30,272,817 $ 30 540,287 $ 34,053, 171
PROGRAM REVENUES
Governmental activities:
Charges for services:
General government $ 6,000 $ 6,000 $ 16,000
Community Development and Engineering 2,163,596 1,454,744 1,332,453
Fire and rescue 239,386 303,868 250,814
Leisure services 448,606 424,024 563,738
Municipal court 813,781 932,452 1, 171,919
Police 70,899 81,054 79,699
Streets and drainage 472,860 355,157 358,688
Operating grants and contributions 399,819 431,683 1,856,567
Capital grants and contributions 4,355,357 5,372,281 3,973,954
Total governmental activities program revenues 8 970,304 9,361,263 9 603,832
102
TABLE2
Fiscal Year
2009 2010 2011 2012 2013 2014 2015
$ 2 ,945,481 $ 2,691,905 $ 2,715,154 $ 3,125,214 $ 4,075,001 $ 4,103,928 $ 4,676,185
1,530,901 1,645,221 1,402,669 1,397,839 1,429,755 1,613,311 1,582,461
4,113,793 4,419,945 4,421,496 4,321,929 4,529,225 4,625,036 5,264,026
3,941,259 4,118,769 4 ,191 ,960 4 ,124,619 4,106,822 3,776,068 4,042,252
455,752 423,783 412,513 400,306 494,545 575,696 684,301
291,724 302,756 303,839 319,445 586,709 501,604 522,422
4,841,217 4,836,274 4,878,055 4,579,570 4 ,961,444 5,019,343 5,681,698
3,503,519 3,885,182 3,657,591 3,073,530 5,322,510 4,128,365 4,404 ,701
1,051 , 180 1,000,061 849,390 780,029 724,458 717,045 536,161
22 ,6 74,82 6 23,323,896 22,832,667 22,122,481 26 ,230,469 25,060,396 27 ,394,2 07
10 ,612,372 11,242,553 12,009,187 12,258,587 12,544,530 13 ,238,893 14,055,232
658,016 572,234 742,160 723,994 707,647 571 ,886 833,599
331,361 296,288
11,601 ,749 12, 111 ,075 12,751 ,347 12 ,982 ,581 13 ,2 52 177 13 ,810,779 14 ,888 ,831
$ 34,276,575 $ 35,434,971 $ 35,584,014 $ 35,105,062 $ 39,482,646 $ 38,871,175 $ 42,283,038
$ 15 ,000 $ 15,000 $ 97,234 $ 28,408 $ 15,000 $ 15 ,000 $ 17,500
666,914 647,298 868,363 1, 146,518 927,690 1,387,329 1,587,038
271,216 235,225 305,882 335,308 308,339 377,021 327,264
6,595,487 468,426 1,213 ,167 520,433 501,260 510,991 503,098
1,002 ,008 1,213,178 970,143 1,015,804 1,271,095 1,268,447 1,474,485
51 ,631 94,059 70,709 81,056 70,513 71,022 75,415
215,619 345,780 296,350 338,845 316,338 347,565 802,551
713, 189 543,516 822,056 490,069 468,361 486,869 450,559
360,023 423,873 405 ,347 381,308 1,158,050 5,943 ,465 7,712,266
9,891,087 3,986,355 5,04 9!25 1 4,337,749 5,036,646 10,407,709 12,950,176
103
CITY OF COLLEYVILLE, TEXAS
CHANGES IN NET POSITION
(Accrual Basis of Accounting)
Fiscal Year
2006 2007 2008
PROGRAM REVENUES
Business-type activities:
Charges for services:
Water and wastewater $ 12,357,576 $ 9,127,470 $ 11,114,892
Drainage 830,292 841,972 859,013
Capital grants and contributions 1,100,354 1,561,255 1,415,785
Total business-type activities program revenues 14,288,222 11,530,697 13,389,690
Total primary government program revenues $ 23,258,526 $ 20,891,960 $ 22,993,522
NET(EXPENSE)REVENUES
Governmental activities $( 10,884,474) $( 10,769,217) $( 12 ,313,549
Business-type activities 3,870,183 1,120,890 L,253 900
Total primary government net expense ( 7 014 291) ( 9,648 ,327) ( 11,059,649)
GENERAL REVENUES AND OTHER CHANGES IN NET POSITION
Governmental activities:
Taxes
Property 9,483,546 10,153,775 11,367,967
Franchise 1,790,543 1,779,376 1,818,060
Sales 4,355,627 4,674,068 4,740,964
Other 76,005 89,132 82,532
Investment earnings 904,361 1,224,361 804,864
Miscellaneous 65,313 97,963 96,348
Gain on sale of capital assets 116,112
Transfers 532,357 664,085 841,936
Total governmental activities 17,207,752 18,682,760 19 868 ,783
Business-type activities:
Investment earnings 846,214 998,710 3 80 ,5 95
Gain on sale of capital assets
Transfers ( 532,357) 664 085) 841,936)
Total business-type activities 313,857 334,625 ( 461,341)
Total primary government 17,521,609 19,017,385 19,407,442
CHANGE IN NET POSITION
Governmental activities 6,323,278 7,913,543 7,555,234
Business-type activities 4,184,040 1,455,515 792,559
Total primary government $ 10,507,318 $ 9,369,058 $ 8,347,793
Note: See Table 9 for information about Water and Wastewater Charges for services
104
TABLE2
(continued)
Fiscal Year
2009 2010 2011 2012 2013 2014 2015
$ 11,303 ,868 $ 11,414,425 $ 14,355,418 $ 14 ,034 ,600 $ 14,661 ,491 $ 14 ,789,614 $ 15,800,163
874,637 897,361 903 ,089 918,323 928,863 939 ,868 948,565
63 ,293 147 ,014 168,365 169 ,464 876,660 2,707,835 2,362 ,261
12,241 ,798 12,458,800 15 4 26 ,872 15,122,387 16 ,467,014 18,437,317 19,110,989
$ 22,132,885 $ 16 ,445 155 $ 20,476,123 $ 19,460,136 $ 2 1,5 03 ,660 $ 2 8,845 026 $ 32,061 ,165
$( 12,783 ,739) $( I ,337,54 1) $( 17,783,416) $( 17,784,732) $( 21,193,823) $( 14,652,687) $( 14 ,444,031)
640,049 347 725 2,675,525 2,139,806 3,214,837 4 ,62 6!53 8 4,222,158
( 12, 14 3!690 ) 18 98 9 816) ( 15,107,891 ) { 15 644 92 6) ( 17 ,978,986) { I 0 ,026 , 149) { I 0 ,22 1,873)
12,121,420 12 ,557,716 12,414,948 12,414,457 12,497,692 12,950,832 13,493,621
2,017,440 1,867,065 2,031,268 2,207,463 2,074,731 2,172,801 2,319,723
4,718,976 4,936,484 5,056,597 5,495,730 5,902,557 6,472,195 6,705,914
74,198 75,365 80,731 65,808 68 ,592 98,160 107,977
471 ,524 76,968 95,822 108,192 77,269 39,697 100,843
77,854 82,833 55,454 74,041 85,562 61,643 82,873
25,237 65,306 147,969 810,020
823 797 857,622 858,879 1,081 ,868 1,112,540 1,180,292 1,178,590
20,330,446 20,519,359 2 0,593 699 21 ,595 ,528 21,818,943 23,785 ,640 23,989,541
168,940 15,158 3 8,674 4,08 4 3 8,98 7 23 655 52,480
15,864 10 3,4 37 40,81 4 5 06 2
{ 823 ,797) ( 857,622) ( 858 87 9) { 108 '1!868) ( 1,11 2 540) ( I 180 ,292) ( I , 178 ,5 90)
( 654,857) ( 826 ,600) ( 82 0,2 05) ( I 077 784) ( 970 ,116) ( I, 115 ,823) ( 1,12 1,048)
19 ,675,5 89 19 ,692,759 19,773,494 20,517,744 20,848,827 22,669,817 22,868,493
7,546,707 1,18!,818 2,810,283 3,810,796 625,120 9,132,953 9,545,510
( 14,808) ( 4 78 ,87 5) 1,855,320 1,062,022 2,244,721 3,510,715 3101110
$ 7,531 ,899 $ 702,943 $ 4,665,603 $ 4,872,818 $ 2,869 841 $ 12,643,668 $ 12,646 62 0
105
THIS PAGE INTENTIONALLY LEFT BLANK
106
2006 2007
General fund
Non-spendable $ -$ -$
Restricted
Committed
Assigned
Unassigned 7,575.662 _J ,495,329
Total general fund $ 7,575,662 $ _J_,495,329 $
All other governmental funds
Non-spendable $ -$ -$
Restricted 1,082,681 1,254,686
Committed -
Assigned - -
Unassigned
Unassigned, reported in:
Special revenue funds 4,760,679 4,814,412
Capital projects funds 7.012.225 9,055,431
Total all other
governmental funds $ 12,855,585 $ 15,124,529 $
CITY OF COLLEYVILLE, TEXAS
2008
-
j!,717.398
___1, 717.398
-
987,681
-
-
5,696,905
7.811.492
14,496,078
FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
Fiscal Year
2009 2010 2011
$ $ -$ 2,147
706,942
_1,207,420 ~,813.597 11),223,232
$ __J,207,420 $ J,813.597 $ 10,932,321
$ -$ -$ -
1,121,567 1,154,570 10,853 ,638
-5,967,620
- -
1,148,548
7,267,350 5,664,493
12.369,631 11 ,524,206
$ 20.758.548 $ 18 ,343,269 $ 17,969,806
Note: This schedule does not restate prior years for Special Revenue and Capital Projects Funds.
2012 2013
$ 132,664 $ 1,759
813,536 813 ,536
11 ,762,625 11,006,716
$ 12,708,825 $ 11,822,0ll
$ -$ -
12,894,768 13 ,190,883
6,193,060 6,262,082
954,818 910,611
( 4,975)
$ __ 20,042,646 $ _20.358,60!_
The City implemented GASB 54 in fiscal year 2011 to provide clearer fund balance classifications. Prior years were not restated.
107
TABLE3
2014 2015
$ 1,269 $ 2,119
813 ,536 813 ,536
10.080.617 8,736,746
$ 10,895,422 $ 9,552,401
$ -$
17,571 ,843 19,527,446
6,793,236 7,150,127
765,908 812 ,939
$ 25,130,987 $ 27,490,512
2006 2007
REVENUES
Taxes $ 15,708,945 $ 16,701,290 $
Developer contributions 549,911 683,425
Licenses, fees and permits 1,931,265 1,244,218
Capital improvement fees 482,860 389,657
Fines and penalties 841,595 965,416
Charges for services 1,173,394 1,190,327
Interest 904,361 1,224,361
Intergovernmental 5,409 4,361
Donations 396,627 735,756
Miscellaneous 83,730 107 700
Total revenues 22.078.097 23.246,511
EXPENDITURES
General government 2,107,398 2,247,359
Comm Development/Eng 1,265,251 1,467,216
Fire 3,657,554 3,517,817
Police 3,558,154 3,961,975
Leisure services 2,838,637 2,913,798
Streets and drainage 1,604,425 1,485,756
Municipal court 270,037 252,961
Maintenance 377,144 415,708
Capital outlay 4,491,341 6,337,656
Debt service:
Interest 1,141,817 1,094,001
Principal 1,929,047 2.005.204
Total expenditures _23,240,805 25.699.451
CITY OF COLLEYVILLE, TEXAS
CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
2008 2009 2010 2011
17,975,445 $ 18,889,480 $ 19,353,358 $ 19,627,734 $
226,488
1,113,595 646,302 607,132 923,590
358,688 208,622 334,075 281,260
1,203,260 1,028,425 1,244,146 998,221
1,322,732 7,129,322 917,884 1,694,993
804,864 471,524 76,968 95,823
1,437,935 350,468 100,807 541,709
548,093 401,432 379,853 602,401
116.280 155.100 97,833 70.453
25,107.380 29.280,675 23.112,056 24.836,184
2,537,699 2,639,218 2,423,869 2,383,276
1,462,566 1,531,785 1,642,047 1,397,256
3,755,575 3,840,118 3,955,407 3,972,053
4,395,056 4,588,576 4,552,947 4,596,862
3,171,514 3,058,332 3,173,352 3,177,878
1,649,037 1,917,536 2,297,719 2,052,298
323,059 291,893 302,172 302,666
410,636 449,806 417,946 405,911
5,150,286 2,759,774 4,935,053 2,510,027
2,584,790 1,033,148 944,751 838,320
1.189,798 2.275,553 2.180.061 2,259,004
26,630,016 _24,385,739 26,82~324 23,895.551_
108
TABLE4
2012 2013 2014 2015
20,235,012 $ 20,541,466 $ 21,747,244 $ 22,620,506
1,130,426 857,135 1,090,012 1,303,710
322,498 300,900 333,496 785,992
1,051,899 1,000,954 1,043,821 1,217,654
1,030,439 1,321,927 1,577,564 1,571,510
110,550 77,269 39,697 100,842
124,056 76,506 556,954 1,377,763
406,789 487,066 918,613 981,282
89.041 100.562 76.643 97,873
24,500.710 24.763,785 27,384,044 30,057,132
2,753,457 3,171,582 3,746,619 4,126,132
1,396,259 1,429,574 1,606,589 1,524,342
3,888,225 4,062,535 4,174,745 4,618,103
4,304,710 4,670,639 4,707,315 5,143,662
3,049,908 3,035,583 2,702,313 2,996,371
1,388,970 3,597,965 2,055,631 2,407,780
319,084 586,911 501,027 508,566
394,830 489,685 570,011 662,480
2,515, 115 2,668,074 3,250,508 6,268,273
757,594 697,140 716,228 524,414
2.007,585 2,246.921 1.342.586 1,459.693
22.775,737 26,656,609 25,373,572 30,239.816
2006 2007
EXCESS OF REVENUES
OVER (UNDER)
EXPENDITURES $( 1,162,708) $( 2,452,940) $(
OTHER FINANCING
SOURCES (USES)
Bonds issued -9,890,000
Refunding bonds
Notes payable
Capital lease 408,716
Sale of capital assets 152,270 8,800
Premium on bond issue
Payments to escrow -( 4,921,334)
Transfers in 2,203.261 l.637.154
Transfers out ( 1,670,904) ( 973.069) (
Total other financing
sources (uses) 1.093.343 5,641,551
NET CHANGE IN
FUND BALANCES $( 69.365) $ 3,188,611 $(
DEBT SERVICE AS
A PERCENTAGE
OF NONCAPITAL
EXPENDITURES 16.4% 16.0%
CITY OF COLLEYVILLE, TEXAS
CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Modified Accrual Basis of Accounting)
2008 2009 2010
1,522,636) $ 4,894,936 $( 3,713,268) $
- -
176,150 -981,238
98,168 33,759 65,306
-(
2,082,101 2,338,776 1,884,896
1.210_.165) ( 1,514,979) ( 1,027,274) (
1.116,254 857.556 1.904.166
406,382) $ 5,752,492 $( 1,809, I 02) $
17.6% 15.3% 14.3%
2011
940,633 $
2,945,000
-
7,098
6,561
3,012,910)
2,458,396
1,599,517)
804 ,62~
1,745,261 $
14.5%
Note: Capital Outlay does not include contributed capital assets received from developers.
109
2012 2013 2014 2015
1,724,973 $( 1,892,824) $ 2,010,472 $( 182.684)
-7,330,000
894,534 209,425
147,969 -925,033 20,598
-( 7.600,000)
3,893,584 4,189,380 7,355 ,334 6,497,252
( 2,811,716) ( 3,076,840) ( 6.175,042) ( 5,318,662)
2,124,371 1,321 ,965 1,835,325 1,199.188
3,849,344 $( 570,859) $ 3.845.797 $ 1,016,504
13 .6% 12.3% 9.3% 8.3%
Fiscal
Year
2006 $
2007
2008
2009
2010
2011
2012
2013
2014
2015
CITY OF COLLEYVILLE, TEXAS
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Less: Total Taxable Total
Residential Personal Tax-exempt Assessed Direct
Property Property Propertv Value TaxRate -
3,015,929,674 $ 79,122,702 $ 221,809,521 $ 2,873,242,855 0.3474
3,229,353,459 86,080,918 228,115,791 3,087,318,586 0.3474
3,531,988,996 97,998,283 228,915,486 3,401,071,793 0.3559
3, 748,968,313 99,556,111 230,676,995 3,617,847,429 0.3559
3,907,288,105 95,261,420 237,293,931 3, 765,255,594 0.3559
3,917,415,346 92,176,541 253,414,335 3,756,177,552 0.3559
3,941,020,477 89,758,416 277,077,387 3,753,701,506 0.3559
3,997,250,723 91,264,033 296,807,896 3,791,706,860 0.3559
4,129,613,419 93,604,217 307,729,550 3,915,488,086 0.3559
4,314,297,434 102,095,151 313,245,782 4,103,146,803 0.3559
Source: Tarrant Appraisal District
TABLES
Estimated
Actual
Taxable
Value
$ 2,873,242,855
3,087,318,586
3,401,071,793
3,617,847,429
3, 765,255,594
3,756,177,552
3,753,701,506
3,791,706,860
3,915,488,086
4,103,146,803
Note: Property in Tarrant County is reassessed once every two years. The Appraisal District assesses property at 100 percent of actual value for residential
and personal. Tax rates are per $100 of assessed value.
110
City Direct Rates
General
Operations and Obligation Total
Fiscal Maintenance Debt Direct
Year Rate Service Rate
2006 0.27771 0.06969 0.34740
2007 0.27873 0.06867 0.34740
2008 0.28299 0.07291 0.35590
2009 0.28860 0.06731 0.35590
2010 0.29864 0.05726 0.35590
2011 0.29758 0.05832 0.35590
2012 0.30881 0.04709 0.35590
2013 0.31385 0.04205 0.35590
2014 0.32442 0.03148 0.35590
2015 0.33461 0.02129 0.35590
Source: Tarrant Appraisal District
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING PROPERTY TAX RA TES
LAST TEN FISCAL YEARS
Overlapping Rates
Grapevine-Hurst-Euless
Birdville Carroll Colleyville Bedford Keller
Independent Independent Independent Independent Independent
School District School District School District School District School District
l.6170 1.9350 1.70000 l.7230 1.7158
1.5650 l.7950 1.57430 1.5976 1.6080
l.4050 1.4650 l.29000 1.3037 1.3574
l.4100 1.4150 l.29000 1.2955 l.4169
1.4050 l.4150 l.29000 1.2955 1.4863
l.4250 l.4150 l.29000 1.2882 1.5306
1.4350 1.4150 1.32010 1.4140 1.5400
1.4350 1.4000 1.32010 1.4075 1.5400
1.4350 1.4000 1.32010 1.3875 1.5400
1.4350 1.4000 1.32010 1.3750 1.5400
TABLE6
Tarrant County Tarrant County
Tarrant College Hospital
County District District
0.27250 0.139380 0.235397
0.27150 0.139380 0.235397
0.26650 0.139380 0.230397
0.26400 0.137960 0.227897
0.26400 0.137670 0.227897
0.26400 0.137600 0.227900
0.26400 0.148970 0.227897
0.26400 0.148970 0.227897
0.26400 0.149500 0.227897
0.26400 0.149500 0.227897
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.
111
Taxpayer
Velocis Colleyville LP
Oncor Electric Delivery
Toll Dallas TX LLC
Lifetime Fitness Real Estate
AC Village Park Partners LLC
USMC Colleyville LLC
Wal-Mart Real Estate Business Trust
RCC Village Properties
Colleyville Riverwalk LP
McCormick, Robert & Cynthia
TXU Electric Delivery
Albertsons Inc
Melvin & Martindale Ltd
Colleyville Plaza LP
Colleyville 26 Crossing Ltd
Broughton Ltd Partnership
Uhlmann-Colleyville LLC
G Points SC LTD
Total
Source: Tarrant Appraisal District
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL PROPERTY TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
2015
Percentage
of Total City
Taxable Taxable
Assessed Assessed
Value Value
$ 26,210,380 0.67%
16,678,083 0.43%
12,557,166 0.32%
12,304,570 0.31%
10,903 ,756 0.28%
10,057,253 0.26%
8,487,901 0.22%
8,142,369 0.21%
5,925,000 0.15%
4,396,800 0.11%
-%
-%
-%
-%
-%
-%
-%
-%
$ 115,663,278 2.95%
112
TABLE 7
2006
Percentage
of Total City
Taxable Taxable
Assessed Assessed
Value Value
$ -%
-%
-%
16,414,232 0.57%
-%
-%
-%
-%
-%
-%
16,307,256 0.57%
9,934,354 0.35%
7,685,413 0.27%
6,500,480 0.23%
6,060,000 0 .21%
5,973 ,768 0.21%
5,784,142 0.20%
5,289,406 0.18%
$ 79,949,051 2.78%
TABLES
CITY OF COLLEYVILLE, TEXAS
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Collected With the
Taxes Levied Fiscal Year of the Levy Collections Total Collections to Date
Fiscal for the Percentage in Subsequent Percentage
Year Ended Fiscal Year Amount of Levy Years Amount of Levy
2006 $ 9,981,646 $ 9,906,769 99.2% $ 68,541 $ 9,975,310 99.94%
2007 10,725 ,345 10,592 ,222 98 .8% 124,651 10,716,873 99.92%
2008 12,024,882 11,903,333 99.0% 109,102 12,012,435 99.90%
2009 12,875 ,919 12,734,871 98 .9% 125,669 12,860,540 99 .88%
2010 13,351,922 13,166,515 98.6% 164,082 13,330,597 99.84%
2011 13,183,932 13,063,575 99.1% 95,672 13 ,159,247 99 .81%
2012 13, 163,735 13,082,029 99.4% 43,962 13,125,991 99.71%
2013 13,291,462 13,207,902 99.4% 62,362 13,270,264 99.84%
2014 13,722,602 13,681,269 99.7% 41,333 13,722,602 100.00%
2015 14,305,704 14,242,584 99.6% 14,242,584 99.56%
Sources: Tarrant County Appraisal District and City of Colleyville Finance Department.
113
Taxpayer
Grapevine-Colleyville ISD
Lifetime Fitness
Town Center
Shadowood Trail
Market Street
Bluebonnet Hills
US Memory Care
Mady Development
Westmont
Whittier Heights
Villas at Oak Point
Woodland Hills
Wash Depot
G Points SC Ltd
Colleyville Downs-KRG
Timarron
Monticello HOA
Highland Meadows HOA
Keller ISO
Total
Source: City utility billing records
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL WATER CUSTOMERS
CURRENT YEAR AND NINE YEARS AGO
2015
Percentage
of Total City
Water Water
Usage Usage
39,527,800 1.82%
16,682,900 0.77%
14, 112,300 0.65%
4,850,200 0.22%
4 ,775 ,000 0 .22%
4,694,000 0 .22%
4,312,300 0.20%
4,158,400 0.19%
3,840,200 0.18%
3,806,000 0.17%
3,722,500 0.17%
3,550,100 0 .16%
3,256,200 0.15%
3,195,200 0.15%
3,152,200 0 .14%
3,059,100 0.14%
3,022,500 0.14%
3,016,300 0.14%
2 ,551,800 0.12%
129,285,000 5.94%
114
TABLE9
2006
Percentage
of Total City
Water Water
Usage Usage
40,620,600 1.38%
8,875,100 0.30%
7,091,100 0.24%
5,913,400 0.20%
7,598,600 0 .26%
11,933,300 0.40%
-%
-%
3,773,800 0.13%
-%
-%
3,333 ,000 0.11%
13,523,500 0.46%
-%
-%
5,267,000 0.18%
-%
3,539,300 0.12%
3,458 ,4 00 0.12%
114,927 100 3.90%
Governmental Activities
General Sales Tax
Fiscal Obligation Revenue Capital
Year Bonds Bonds Leases
2006 $ 10,665,000 $ 14,760,000 $ 404,395
2007 17,770,000 10,340,000 349,189
2008 16,275,000 9,765,000 430,549
2009 14,665,000 9,170,000 359,996
2010 13,300,000 8,545,000 1,151,173
2011 11,510,000 8,245,000 972,170
2012 9,975,000 7,930,000 1,709,120
2013 8,675,000 7,600,000 1,301,624
2014 7,660,000 7,330,000 974,038
2015 6,920,000 6,935,000 649,345
CITY OF COLLEYVILLE, TEXAS
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
Business-type Activities
Water and Sewer Drainage
Revenue Revenue Capital
Premium Bonds Bonds Leases
$ -$ 7,365,000 $ 2,365,000 $ 26,933
-6,540,000 2,205,000 13,793
-5,840,000 2,040,000 -
-5,200,000 1,870,000 -
-4,520,000 1,695,000 -
5,905 3,600,000 1,550,000 -
5,249 2,850,000 1,345,000 -
4,593 2,085,000 1,135,000 -
-1,310,000 915,000 -
-850,000 690,000
Premium
$ -
-
-
-
-
99,756
89,780
79,805
69,830
59,854
Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
See Table 15 for personal income and population data.
115
TABLE 10
Total Percentage
Primary of Personal Per
Government Income ~ita
$ 35,586,328 2.96% $ 1,640
37,217,982 2.89% 1,680
34,350,549 2.64% 1,527
31,264,996 2.51% 1,386
29,211,173 2.31% 1,281
25,982,831 1.73% 1,137
23,904,149 1.57% 1,042
20,881,022 1.38% 904
18,258,868 1.16% 769
16,104,199 1.02% 676
Fiscal
Year
2006 $
2007
2008
2009
2010
2011
2012
2013
2014
2015
Notes:
CITY OF COLLEYVILLE, TEXAS
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
General Bonded Debt Outstanding Percentage of
General Less Amounts Actual Taxable
Obligation Restricted to Value of
Bonds Repaying Principal Total Property
10,665,000 $ 937,578 $ 9,727,422 0.34%
17,770,000 1,032,586 16,737,414 0.54%
16,275,000 889,689 15,385,311 0.45%
14,665,000 1,040,896 13,624,104 0.38%
13,300,000 1,057,699 12,242,301 0.33%
11,510,000 1,106,893 10,403,107 0.28%
9,933,921 1,159,092 8,774,829 0.23%
8,639,056 857,143 7,781,913 0.21%
7,660,000 831,073 6,828,927 0.17%
6,920,000 744,295 6,175,705 0.15%
Details regarding the City's outstanding debt can be found in the notes to the financial statements.
See Table 5 for property value data.
Population data can be found in Table 15.
116
TABLE 11
Per
Capita
$ 448
756
684
604
537
455
382
337
288
259
TABLE12
CITY OF COLLEYVILLE, TEXAS
DIRECT AND OVERLAPPING GOVERNMENT AL ACTIVITIES DEBT
AS OF SEPTEMBER 30, 2015
Estimated
Share of
Estimated Direct and
Debt Percentage Overlapping
Government Unit Outstanding Applicable Debt
Debt repaid with property taxes
Birdville Independent School District $ 256,161,620 0.080% $ 204,929
Carroll Independent School District 216,607,746 0.460% 996,396
Grapevine-Colleyville Independent School District 326,820, 150 21.320% 69,678,056
Hurst-Euless-Bedford Independent School District 274,883, 170 1.650% 4,535,572
Keller Independent School District 771,227 ,959 3.330% 25,681,891
Tarrant County 333,795,000 3.040% 10,147,368
Tarrant County Hospital District 23,440,000 3.040% 712,576
Subtotal overlapping debt 111,956,788
City direct debt 10,025,000 100.000% 10,025,000
Total direct and overlapping debt $ 121,981,788
Sources: Assessed value data used to estimate applicable percentages provided by the Tarrant County Appraisal District
and debt outstanding data provided by each governmental unit.
Note: Overlapping governments are those that coincide, at least in part, with geographic boundaries of the City. This
schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the
propery taxpayers of the City of Colleyville, Texas. This process recognizes that, when considering the
government's ability to issue and repay long-term debt, the entire debt burden borne by the property taxpayers
should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore
responsible for repaying the debt, of each overlapping government.
117
THIS PAGE INTENTIONALLY LEFT BLANK
118
2006 2007
Debt limit $ 71,831,071 $ 77,182,965 $
Total net debt applicable to limit 9,727,422 15,967,232
Legal debt margin $ 62,103,649 $ 61,215,733 $
Total net debt applicable to the limit
as a percentage of debt limit. 13.54% 20.69%
Note:
CITY OF COLLEYVILLE, TEXAS
LEGAL DEBT MARGIN INFORMATION
LAST TEN FISCAL YEARS
Legal Debt Margin Calculation for Fiscal Year 2015
2008 2009
85,026,795 $ 87,755,997
15,385,131 13,624,104
69,641,664 $ 74,131,893
18.o9% 15.52%
Assessed value
Debt limit (2.5% of assessed value)
Debt applicable to limit:
General obligation bonds
Less: Amount set aside for
repayment of general
obligation debt
Total net debt applicable to limit
Legal debt margin
Fiscal Year ------2010 2011 2012
$ 94,131,390 $ 93,904,439 $ 93,842,538
12.242.JOI 10,403,107 8,815,908
$ 81,889,089 $ 83,501,332 $ 85,026,630
13.01% 11.08% 9.39%
2013 2014
$ 94,792,672 $ 97,887,202
7,817,857 6.828.927
$ 86.974.815 $ 91.129.692
8.25% 6.98%
Under state finance law, the City's outstanding general obligation debt should not exceed 2.50 percent of total assessed property value.
119
TABLE13
$ 4,103,146,803
102,578,670
6,920,000
{ 744,295)
6.175.705
$ 96,402,965
2015
$ 102,578,670
6.175.705
$ 96,402,965
6.02%
Utility
Fiscal Service
Year Charges
2006 $ 13,136,476 $
2007 10,046,030
2008 11,452,268
2009 11,458,282
2010 11,427,074
2011 14,391,910
2012 14,036,325
2013 14,698,914
2014 14,811,721
2015 15,894,829
CITY OF COLLEYVILLE, TEXAS
Less:
Operating
PLEDGED REVENUE COVERAGE
LAST TEN FISCAL YEARS
Water Revenue Bonds
Net
Available Debt Service
Expenses Revenue Principal
8,067,565 $ 5,068,911 $ 795,000 $
8,040,621 2,005,409 825,000
9,670,881 1,781,387 700,000
8,943,803 2,514,479 640,000
9,458,355 1,968,719 680,000
10,120,678 4,271,232 920,000
10,395,517 3,640,808 750,000
10,707,017 3,991,897 765,000
11,331,749 3,479,972 775,000
12,043,267 3,851,562 460,000
120
-----
Interest Coverage -
329,451 $ 3,944,460
296,546 883,863
265,658 815,729
241,223 1,633,256
213,358 1,075,361
57,819 3,293,413
77,947 2,812,861
58,430 3,168,467
44,137 2,660,835
30,100 3,361,462
TABLE 14
Drainage Revenue Bonds Sales Tax Bonds
Drainage Drainage Net
Service Operations Available Debt Service Sales Tax Debt Service
Charges Expenses Revenue Principal Interest Coverage Increment Principal Interest _ Coverage
$ 897,606 $ 444,700 $ 452,906 $ 150,000 $ 111,252 $ 191,654 $ 1,132,094 $ 240,000 $ 402,929 $ 489,165
922,123 462,387 459,736 160,000 104,206 195,530 1,208,379 255,000 391,366 562,013
902,232 510,259 391,973 165,000 96,984 129,989 1,300,260 270,000 380,013 650,247
889,163 500,677 388,486 170,000 90,138 128,348 1,264,385 275,000 368,195 621,190
899,870 484,712 415,158 175,000 82,930 157,228 1,317,161 290,000 356,290 670,871
905,271 551,049 354,222 152,163 58,979 143,080 1,319,517 300,000 344,195 675,322
920,682 531,705 388,977 205,000 51,244 132,733 1,426,909 315,000 331,588 780,321
930,427 541,598 388,829 210,000 41,733 137,096 1,534,635 330,000 318,365 886,270
941,416 416,957 524,459 220,000 35,398 269,061 1,673,351 -138,390 1,534,961
959,835 665,498 294,337 225,000 27,847 41,490 1,725,809 395,000 205,416 1,125,393
121
Calendar
Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Sources:
TABLE15
CITY OF COLLEYVILLE, TEXAS
DEMOGRAPIIlC AND ECONOMIC ST A TISTICS
LAST TEN FISCAL YEARS
Tarrant
Per Capita County
Personal Personal Unemployment
Population Income Income Rate
21,700 $ 167,009 $ 55,485 4.5%
22,150 175,008 58,142 4.3%
22,500 173,853 57,758 5.1%
22,550 166,063 55,170 8.2%
22,807 166,063 55,354 7.9%
22,860 199,168 65,516 8.3%
22,950 199,168 65,516 6.2%
23,090 199,168 65,516 6.0%
23,740 200,822 66,060 5.0%
23,830 200,822 66,060 4.0%
Population -North Central Texas Council of Governments, personal income -City of Colleyville
Economic Development Department, Unemployment Rate -Texas Workforce Commission
(unemployment rate is not available solely for the City of Colleyville)
122
E mpl oye r
Grapevine Colleyville ISD
Market Street
Lifetime Fitness
City of Colleyville
Whole Foods Market
Albertsons
Covenant Christian Academy
LaHacienda Ranch
Walmart Neighborhood Market
Sonshine Academy
US Memory Care
Mac's Steak and Seafood
Compass Christian Church
Total
CITY OF COLLEYVILLE, TEXAS
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
2015
Percentage
of Total City
Employees Employm ent
611 11.8%
345 6.7%
250 4.8%
205 4.0%
125 2.4%
118 2.3%
130 2.5%
100 1.9%
72 1.4%
60 1.2%
60 1.2%
-%
50 1.0%
2,126 41.2%
Source: City Economic Development Division
*This information is unavailable.
123
TABLE 16
2006
Percentage
of Total City
Employee. Employme nt*
475 -%
415 -%
-%
179 -%
-%
205 -%
-%
100 -%
-%
60 -%
-%
60 -%
-%
1,494 -%
Function/Pro~am
General government
Management services
Finance/court
Planning
Building
Other
Police
Officers
Civilians
Fire
Firefighters and officers
Civilians
Other public works
Engineering
Other
Streets
Parks and recreation
Library
Colleyville center
Water/wastewater
Drainage
Total
Source:
Notes:
2006
6
7
3
5
5
32
11
33
1
5
3
10
12 .5
5.5
4.5
28
6
177.5
CITY OF COLLEYVILLE TEXAS
FULLTIME EQUN ALENT CITY GOVERNMENT EMPLOYEES
BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Fulltime Equivalent Employees as of September 30,
2007 2008 200 9 2010 2011 2012
5 5 4 4 4 4
6 6 6 6 6 6
3 3 3 2 2 2
5 6 6 5 4 3
6 6.5 7.5 9.5 11 11
35 37 38 38 38 39
13 14 14 13 6 6
33 33 33 33 33 35
1 1 1 2
5 5 5 4 4.5 3
3 3 3 3 3 3
10 10 10 10 10 10
13 .5 13.5 13.5 16.5 16 16
7.5 8 8 9.5 11.5 11.5
4 .5 4.5 4.5 4.5 4.5 4.5
29 29 29 28 24 25
6 6 6 6 6 6
185 .5 190.5 191.5 194.0 184.5 185.5
City Human Resources Office
TABLE17
2013 2014 2015
4 4 4
8 8 8
2 4 3
3 3.5 5
13 12 14
40 41 44
6 6.5 6.0
36 38 41
3 4 4
3 3 3
7 8 8
16 16 15
12 13 14
3.5 4 4 .5
23 25 25
7 6 6
187.5 196.5 204.5
A fulltime employee is scheduled to work 2080 hours per year (including vacation and sick leave). Fulltime equivalent employment is
calculated by dividing total labor hours by 2080 .
124
Function/Program 2006
General government
Building permits issued 270
Building inspections conducted 9,599
Police
Physical arrests 485
Calls for service 10,546
Traffic violations 11,218
Fire
Emergency responses 656
Ambulance calls 589
Inspections 312
Other public works
Street resurfacing (miles) 3
Parks and recreation
Athletic field participants 602
Community center rentals 637
Library
Volumes in collection 43,378
Total volumes borrowed 177,087
Water
Customers 8,561
Average daily consumption
(thousands of gallons) 8,081
Peak daily consumption
(thousands of gallons) 16,732
Wastewater
Customers 7,761
Source: Various City departments
CITY OF COLLEYVILLE, TEXAS
OPERATING INDICATORS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
2007 2008 2009 2010 2011
140 131 90 77 104
8,941 8,108 5,641 6,149 6,737
666 514 809 764 666
17,629 15,292 23,480 12,242 27,254
12,438 15,621 12,550 13,822 11,354
715 681 737 762 830
630 667 693 751 765
503 666 796 784 397
4.5 8.5 13.9 8.0 6.2
4,960 5,159 4,617 4,296 4,378
592 627 507 373 410
46,311 50,348 54,659 58,147 62,997
197,712 211,674 238,459 244,458 235,238
8,700 8,893 8,960 9,014 9,103
5,123 6,619 6,578 5,990 7,928
13,068 16,764 16,674 18,207 18,935
7,966 8,138 8,315 8,389 8,457
125
TABLE18
2012 2013 2014 2015
155 103 108 181
8,310 8,292 7,807 7,307
653 632 863 800
48,076 61,270 58,522 51,537
11,980 11,766 19,955 21,450
724 557 627 694
803 829 950 959
342 306 317 363
1.0 4.0 1.7 3.7
3,946 4,287 4,315 4,434
404 398 412 452
65,740 69,736 74,525 77,664
244,613 250,737 234,667 228,160
9,285 9,396 9,507 9,631
7,217 6,785 6,539 6,451
18,707 17,052 15,204 19,866
8,603 8,731 8,817 8,905
Function/Program 2006
Police
Stations 1
Patrol units 7
Fire
Stations 2
Public works
Streets (miles) 307
Streetlights 990
Traffic signals 2
Parks and recreation
Acreage 212
Playgrounds 5
Baseball/softball diamonds 9
Soccer fields 14
Community centers 1
Water
Water mains (miles) 175
Fire hydrants 1,206
Storage capacity 4,900
(thousands of gallons)
Wastewater
Sanitary sewers (miles) 154
Storm sewers (miles) 58
Source: Various City departments
CITY OF COLLEYVILLE, TEXAS
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM
LAST TEN FISCAL YEARS
Fiscal Year
2007 2008 2009 2010 2011 2012
1 1 1 1 I 1
10 13 13 13 13 12
2 3 3 3 3 3
311 312 312 318 282 282
1,011 1,010 1,168 1,188 1,169 1,169
2 2 2 2 2 2
224 224 224 224 224 224
6 6 6 6 6 6
9 9 9 9 9 9
14 14 14 14 14 14
1 I 1 1
191 192 199 200 195 201
1,254 1,271 1,340 1,345 1,362 1,389
4,900 4,900 9,900 9,900 9,400 9,400
163 164 166 170 162 169
59 59 63 63 58 64
Note: No capital asset indicators are available for the general government or library function.
126
TABLE 19
2013 2014 2015
1 1 1
12 12 13
3 3 3
282 283 283
1,175 1,175 1,227
2 2 2
224 224 224
6 6 6
9 9 9
14 14 14
202 204 205
1,389 1,403 1,422
9,400 9,400 9,400
170 172 172
58 60 67
COMPLIANCE
127
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128
Our consideration of internal control was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City's financial statements are free
from material misstatement, we performed tests of its compliance with certain provisions of laws,
regulations, contracts, and grant agreements, noncompliance with which could have a direct and material
effect on the determination of financial statement amounts. However, providing an opinion on
compliance with those provisions was not an objective of our audit, and accordingly, we do not express
such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that
are required to be reported under Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entity's internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entity's internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
Panm.., ,.(] MWM-..f 11 iJJ l. l. P.
I I
Waco, Texas
March 17, 2016
130
We believe that our audit provides a reasonable basis for our opinion on compliance for each
maJor federal program. However, our audit does not provide a legal determination of the City's
compliance.
Opinion on Each Major Federal Program
In our opinion, the City of Colleyville, Texas complied, in all material respects, with the types of
compliance requirements referred to above that could have a direct and material effect on each of its
major federal programs for the year ended September 30, 2015.
Report on Internal Control over Compliance
Management of the City of Colleyville, Texas is responsible for establishing and maintaining
effective internal control over compliance with the types of compliance requirements referred to above.
In planning and performing our audit of compliance, we considered the City of Colleyville, Texas',
internal control over compliance with the types of requirements that could have a direct and material
effect on each major federal program as a basis for designing auditing procedures that are appropriate in
the circumstances for the purpose of expressing an opinion on compliance for each major federal
program and to test and report on internal control over compliance in accordance with OMB Circular A-
133, but not for the purpose of expressing an opinion on the effectiveness of internal control over
compliance. Accordingly, we do not express an opinion on the effectiveness of the City's internal
control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control
over compliance does not allow management or employees, in the normal course of performing their
assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance
requirement of a federal program on a timely basis. A material weakness in internal control over
compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that
there is a reasonable possibility that material noncompliance with a type of compliance requirement of a
federal program will not be prevented, or detected and corrected, on a timely basis. A significant
deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in
internal control over compliance with a type of compliance requirement of a federal program that is less
severe than a material weakness in internal control over compliance, yet important enough to merit
attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in
the first paragraph of this section and was not designed to identify all deficiencies in internal control
over compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of
our testing of internal control over compliance and the results of that testing based on the requirements
of OMB Circular A-133. Accordingly, this report is not suitable for any other purpose.
P~ B~ '4-7-IUJ l.t-.P.
I I
Waco, Texas
March 17, 2016
132
CITY OF COLLEYVILLE, TEXAS
SCHEDULE OF EXPENDITURES OF FEDERAL A WARDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Federal Grantor/Pass-through Grantor/
Program Title
FEDERAL AWARDS
U. . Department or Transpo rtation
Passed through Texas Department of Transportation
Highway Planning and Construction -
Colleyville Quiet Zones
Total Passed through Texas Department of Transportation
Total U.S. Department of Transportation
Total Expenditures of Federal Awards
133
Federal
CFDA
Number
20 .205
Pass-through
Grantor's
Number
CSJ: 0902-48-756
Expenditures
$_~1,~0_4 7-'-,3_4_7
1,047 ,347
1,047,347
$ 1,047,347
CITY OF COLLEYVILLE, TEXAS
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL A WARDS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
1. GENERAL
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal
programs of the City of Colleyville, Texas. The City's reporting entity is defined in Note I of the
financial statements. Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies, are included on the Schedule of Expenditures
of Federal Awards.
2. BASIS OF ACCOUNTING
The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The modified accrual basis of accounting is described in Note I of the financial
statements. The information in this schedule is presented in accordance with the requirements of
OMB Circular A-133, Audits of States, Local Governments. Therefore, some of the amounts
presented in this schedule may differ from amounts presented in, or used in the preparation of,
the financial statements.
134
CITY OF COLLEYVILLE, TEXAS
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Summary of Auditors' Results
Financial Statements:
Type of auditors' report issued
Internal control over financial reporting:
Material weakness( es) identified?
Significant deficiency(ies) identified?
Noncompliance material to financial statements
noted?
Federal and State A wards:
Internal control over major programs:
Material weakness(es) identified?
Significant deficiency(ies) identified?
Type of auditors' report issued on compliance
for major programs
Any audit findings disclosed that are required
to be reported in accordance with Section
SIO(a) ofOMB Circular A-133?
Identification of major programs:
CFDA Numbers:
20.205
Dollar threshold used to distinguish between type A
and type B federal programs
Auditee qualified as low-risk auditee for federal single audit?
Findings Relating to tile F inancial S tatements Which are
Required to be Reported in Accordance With Generally
Accepted Government Auditing Standards
None
Findings and Questioned Costs for Federal Awards
None
135
Unmodified
No
None reported
No
No
None reported
Unmodified
No
Name of Federal Program:
Highway Planning and Construction -
Colleyville Quiet Zones
$300,000
No
None
CITY OF COLLEYVILLE, TEXAS
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
136