HomeMy WebLinkAboutFY18 Annual Comprehensive Financial ReportComprehensive Annual
Financial Report
Fiscal Year ended September 30, 2018
City of Colleyville, Texas
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30, 2018
Prepared by
Finance Department
Shereen Gendy
Chief Financial Officer
Karen Hines
Accounting Manager
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City of Colleyville, Texas
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30, 2018
Table of Contents
i
Exhibit Page
Introductory Section
Letter of Transmittal v
Certificate of Achievement xi
Organizational Chart xii
Principal Officials xiii
Financial Section
Independent Auditor’s Report 3
Management's Discussion and Analysis 7
Basic Financial Statements
Government-Wide Financial Statements:
Statement of Net Position 1 21
Statement of Activities 2 22
Fund Financial Statements:
Governmental Funds Financial Statements:
Balance Sheet 3 29
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position 4 30
Statement of Revenues, Expenditures, and Changes in Fund Balance 5 31
Reconciliation of the Governmental Funds Statement
of Revenues, Expenditures and Changes in
Fund Balance to the Statement of Activities 6 32
Proprietary Funds Financial Statements:
Statement of Net Position 7 34
Statement of Revenues, Expenses, and Changes in Net Position 8 35
Statement of Cash Flows 9 36
Fiduciary Fund Financial Statement:
Statement of Fiduciary Net Position 10 39
Notes to the Basic Financial Statements 41
Required Supplementary Information
Budgetary Comparison Schedules:
Budgetary Comparison Schedule - General Fund A-1 72
Budgetary Comparison Schedule - Colleyville Economic Development Fund A-2 73
Notes to Budgetary Comparison Schedules 75
Schedule of Changes in Net Pension Liability and Related Ratios - TMRS A-3 76
Schedule of Contributions - TMRS A-4 77
Notes to Texas Municipal Retirement System
Required Supplementary Information 78
Schedule of Changes in Net OPEB Liability and Related Ratios - TMRS A-5 79
Notes to Texas Municipal Retirement System- OPEB Liability 80
City of Colleyville, Texas
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30, 2018
Table of Contents – Continued
ii
Exhibit Page
Combining And Individual Fund Financial Statements And Schedules
Budgetary Comparison Schedule - Debt Service Fund B-1 83
Non-Major Governmental Funds 85
Combining Balance Sheet B-2 88
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances B-3 92
Budgetary Comparison Schedule - Crime District Fund B-4 96
Agency Funds:
Statement of Changes in Assets and Liabilities C-1 98
Combining Statement of Changes in Assets and Liabilities C-2 99
Statistical Section
Net Position By Component 1 104
Changes in Net Position 2 106
Fund Balances - Governmental Funds 3 108
Changes in Fund Balances - Governmental Funds 4 109
Assessed Value and Estimated Actual Value of Taxable Property 5 110
Direct and Overlapping Property Tax Rates 6 111
Principal Property Tax Payers 7 112
Property Tax Levies and Collections 8 113
Principal Water Customers 9 114
Ratios of Outstanding Debt by Type 10 115
Ratio of General Bonded Debt Outstanding 11 116
Direct and Overlapping Governmental Activities Debt 12 117
Pledged Revenue Coverage 13 118
Demographic and Economic Statistics 14 120
Principal Employers 15 121
Full-Time Equivalent City Government Employees By Function/Program 16 122
Operating Indicators By Function/Program 17 123
iii
Introductory Section
iv
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100 MAIN STREET COLLEYVILLE, TEXAS 76034 Phone (817) 503-1000 Fax (817) 503-1019
v
March 19, 2019
To the Citizens of the City of Colleyville:
The Comprehensive Annual Financial Report (CAFR) of the City of Colleyville (the "City") for the fiscal year
ended September 30, 2018, is hereby submitted. Responsibility for both the accuracy of the data, and
completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of our
knowledge and belief, the enclosed data are accurate in all material respects and are reported in a manner designed
to present fairly the financial position, results of operations and cash flows of the various funds of the City. All
disclosures necessary to enable the reader to gain an understanding of the City's financial activities have been
included.
In developing and evaluating the City's accounting system, consideration is given t o the adequacy of internal
accounting controls. These controls are designed to provide reasonable, but not absolute, assurance regarding the
safeguarding of assets against loss from unauthorized use or disposition, and the reliability of financial records
for preparing financial statements and maintaining accountability for assets. The concept of reasonable assurance
recognizes that the cost of a control should not exceed the benefits likely to be derived, and the evaluation of costs
and benefits requires estimates and judgments by management. We believe that the City's current system of
internal controls adequately safeguards assets and provides reasonable assurance of proper recording of financial
transactions.
As required by the City’s charter, the financial statements have been audited by Weaver and Tidwell, L.L.P., a
firm of certified public accountants. The goal of the independent audit was to provide reasonable assurances that
the financial statements of the City of Colleyville for the fiscal year ended September 30, 2018, are free of material
misstatement. The independent audit involved examining on a test basis, evidence supporting the amounts and
disclosures in the financial statements; assessing the accounting principles used and significant est imates made
by management; and evaluating the overall financial statement presentation. The independent auditor concluded,
based upon the audit, that there was a reasonable basis for rendering an unmodified opinion that the City of
Colleyville’s financial statements for fiscal year ended September 30, 2018, are presented in conformity with
generally accepted accounting principles (GAAP).
As required by GAAP, management provides a narrative introduction, overview and analysis to accompany the
basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal
is designed to complement the MD&A and should be read in conjunction with it. The City’s MD&A can be found
immediately following the independent auditors report.
vi
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 Method of Inclusion
Colleyville Economic Development Corporation (CEDC) Blended
Colleyville Crime Control and Prevention District Blended
Colleyville Tax Investment Financing Reinvestment Zone
Zone Number One (TIF) Discretely Presented
The City Charter of the City of Colleyville establishes the fiscal year as October 1 through September 30. The
Charter requires the City Manager to submit a proposed budget and accompanying budget message to the City
Council each year and the proposed budget is presented to the City Council at a budget work session. After public
hearings at two consecutive regular City Council meetings, the Council may adopt the proposed budget, with or
without amendment. The budget ordinance is to be adopted no later than the 30th day of September and requires
an affirmative vote of a majority of the Council. The City maintains budgetary control by adopting an annual
operating budget for the General Fund, Debt Service Fund, Drainage Utility Fund, and Water and Wastewater
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 a new purchase order can be processed to
re-appropriated the encumbrance against the following fiscal year’s budget. 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 primarily 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. During the fiscal year, the City issued 169 new residential building permits, and the average
appraised value of a residential property was $571,103. The City issued 77 certificates of occupancy for new,
remodeled, and expanding businesses. The City’s strong economy supports a 95% occupancy rate of existing
retail and office spaces.
vii
In fiscal year 2018, commercial developments continued to bring new tenants and sales tax dollars to Colleyville
including:
Shanty2Chic LLC
Texas Ketamine Specialists, PLLC
Embroidme
Chipotle Mexican Grill
Ver Halen Aesthetics & Plastic Surgery
Visionary Technology Systems
Hotworx
In addition to these new businesses and tenants, Colleyville expects to see the following developments in the near
future:
A new ±9,000 square foot wedding & event venue (Mont Claire) off of Colleyville Boulevard in the
Winding Creek development
Zoning has been approved for a new ±86,675 square foot self-storage warehouse (Advantage Storage) on
Precinct Line Rd on the western city limits
Domino’s restaurant intends to occupy a portion of the Bear Creek Wine & Spirits at 7101 Colleyville
Blvd
Lilium Florists is expanding the building at their location at 4800 Colleyville Blvd, doubling their existing
square footage
New commercial building permits were issued for a 6,200 square foot building that will be home to a new
optometry office and a Vietnamese restaurant
A tenant finish out permit has been submitted for Chef Point fine dining restaurant on State Hwy 121
Fiscal year 2018 capital projects included the completion of Pleasant Run Road Reconstruction including the
upsizing of a waterline, drainage improvements, ribbon curbs, and sidewalk on the east side of the road; and the
Manning Drive Wastewater Project including the replacement of the wastewater line along with street
rehabilitation of Manning, Stafford, Bowman, and Oak Knoll Drives. Street rehabilitation projects included John
McCain Road from Pleasant Run Road to Marantha Court; L.D. Lockett from Precinct Line Road to Pleasant Run
Road, and Oak Timbers Court, Tyler Street, Behrens Road, and Behrens Court, Bluebonnet, Montclair, and
Wayne Drives, and Pleasant Run Road (John McCain to North City Limit).
Transportation projects in progress at the end of fiscal year 2018 are State Highway 26/Colleyville Boulevard
construction of Phases II and III.
For the Future. In Fiscal Year 2019 street rehabilitation projects will include Cheek-Sparger Road from Bedford
Road to Silverwood Lane, Bransford Road, Patterson Lane, Van Oaks Drive, White Drive, Bill Simmons, Curtis,
Sherbert, and McDonwell School Roads. Major construction projects will include the reconstruction of Frontier
Court and Cheek-Sparger Road from San Bar Lane to Oak Briar Lane. Construction of SH26 is scheduled to
conclude in 2019.
FINANCIAL INFORMATION:
Financial Policies
The City of Colleyville operates under financial policies that include multiple components to provide consistency,
clarity, and appropriate statutory compliance in the City’s financial processes. The City’s Charter provides a
strong foundation, outlining requirements for the annual budget, monthly financial reports, and annual audit.
Additional policies such as the Investment Policy which is reviewed annually by the City Council and the Fund
Balance Policy which is reviewed every three years by the Audit Committee provide further details and guidance.
Decisions are also made in accordance with any existing bond covenants or state law.
viii
In July 2018, the investment policy was updated to limit the maximum allowable investment in Local Government
Investment Pools that invests in commercial paper to 5% of the portfolio, which reflects the City’s conservative
risk tolerance. To diversify the investment portfolio, the updated policy allows investing up to 75% of the portfolio
in government only Local Government Investment Pools. To seek higher return on investments while maintaining
liquidity, the city expanded the investment portfolio to include investments in TexPool, TexStar and Texas
CLASS.
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 2017. At the end of Fiscal Year 2018, 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 ma y be
used to fund one-time capital expenditures.
In January 2017, the City Council held a Visioning Workshop and created a new Strategic Plan, with support
from an outside facilitator and senior staff. The Strategic Plan included an updated Vision, Mission, and
Values. The Strategic Plan also articulated six overall goals and several strategies to achieve each, as shown
below in the version that was updated in June 2018. For each strategy identified, one or more objectives were
assigned.
ix
In June 2018, the City Council held their annual priority setting work session, at which nine consensus priorities
were identified (listed below).
SH26 corridor enhancements - design & bid
City Plaza – finalize design & construct
Multi-purpose Center study to determine scope (Senior/Rec/Community) – Go/No Go decision = intended
outcome
5-Year Capital Trail Master Plan
Storm Water Master Plan
Communications Strategy & Enhancements
Develop TIF 5-Year Plan Strategy
Set priorities & implement Parks Master Plan
Continue improving City events and opportunities for engagement
Explore, develop and expand community partnerships – Chamber, County road projects, other cities,
Entrepreneur Center, etc.
Staff’s role is to manage City activities and finances in a way that reflects the City Council’s and the community’s
highest priorities. Development of the annual budget is guided by the priorities outlined in the City of Colleyville’s
Strategic Plan. Every new effort and element of the City’s budget, including existing programs, is tied to one or
more of these goals, strategies, and objectives.
As a part of the annual budget process, an updated five-year forecast for the General Fund, Utility Fund, Drainage
Fund, and Debt Service Fund is presented to the City Council with the proposed budget. The budget process also
includes an annual update of the five-year capital improvement program (CIP). Projects in the CIP are funded
from a variety of sources including the Capital Projects Fund, Utility Capital Projects Fund, the Tax Increment
Financing (TIF) District Fund, or Special Revenue Funds. The Capital Projects Fund accounts for money
transferred from the General Fund for use on capital projects, street impact fees, perimeter street fees, and other
funds for general capital projects. For internal reporting and tracking, a Utility Capital Projects Fund was created
in Fiscal Year 2017 to account for money transferred from the Utility Fund (the operating fund) for use on utility
capital projects, water impact fees, and wastewater impact fees. For the CAFR purposes, the activity for the Utility
Fund and the Utility Capital Projects Fund are combined as the Water and Wastewater Fund activity.
AWARDS AND ACKNOWLEDGEMENTS
Awards. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a
Certificate of Achievement for Excellence in Financial Reporting to the City of Colleyville for its CAFR for the
fiscal year ended September 30, 2017. This was the 29th 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 CAFR. This report must satisfy both GAAP and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current CAFR continues
to meet the Certificate of Achievement Program's requirements and we are submitting it to GFOA to determine
its eligibility for another certificate.
x
In addition, the Government Finance Officers Association of the United States and Canada (GFOA) has given
the Award for an Outstanding Achievement in Popular Annual Financial Reporting (PAFR) Award to the City of
Colleyville for its PAFR for the fiscal year ended September 30, 2017. The PAFR is valid for one year. This was
the first year that the City has received this prestigious award. The GFOA established the PAFR Program in 1991
to encourage and assist state and local governments to extract information from their comprehensive annual
financial report to produce high quality popular annual financial reports specifically designed to be readily
accessible and easily understandable to the general public and other interested parties without a background in
public finance and then to recognize individual governments that are successful in achieving that goal. Fiscal year
2018 PAFR will be submitted to GFOA to determine its eligibility for another certificate.
The City also received the GFOA’s Distinguished Budget Presentation award for its annual budget dated October
1, 2017. 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,
Shereen Gendy, MSA, CPA, CGFO
Chief Financial Officer
Karen Hines
Accounting Manager
xi
xii
xiii
CITY OF COLLEYVILLLE, TEXAS
HOME RULE, COUNCIL – MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 2018
Richard Newton
Mayor
Tammy Nakamura
Councilmember, Place 1
Bobby Lindamood
Mayor Pro Tem and
Councilmember, Place 2
Kathy Wheat
Councilmember, Place 3
George W. Dodson
Councilmember, Place 4
Chuck Kelley
Councilmember, Place 5
Callie Rigney
Councilmember, Place 6
Jerry Ducay
City Manager
Shereen Gendy
Chief Finance Office
Karen Hines
Accounting Manager
xiv
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1
Financial Section
2
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Austin | Conroe | Dallas | Fort Worth | Houston Los Angeles | Midland | New York City | San Antonio
Weaver and Tidwell, L.L.P.
2300 North Field Street, Suite 1000 | Dallas, Texas 75201
Main: 972.490.1970 | Fax: 972.702.8321
CPAs AND ADVISORS | WEAVER.COM 3
Independent Auditor’s Report
To the Members of the City Council
and City Manager
City of Colleyville, Texas
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, discretely presented component unit, each major fund, and the aggregate
remaining fund information of the City of Colleyville, Texas (the City) as of and for the year ended
September 30, 2018, and the related notes to the financial statements, which collectively comprise the
City’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
our audit in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate
in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as 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, discretely
presented component unit, each major fund, and the aggregate remaining fund information of the
City, as of September 30, 2018, and the respective changes in financial position, and, where
applicable, cash flows thereof for the year then ended in conformity with accounting principles
generally accepted in the United States of America.
The Members of the City Council and Manager of
City of Colleyville, Texas
4
Emphasis of Matter
As discussed in Note 9 and 14 to the financial statements, the City adopted new accounting guidance
GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than
Pensions. 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 (pages 7 through 16), budgetary comparison information (pages
72 through 75), and TMRS pension and OPEB schedules (pages 76 through 80) 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 a n 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 in quiries 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 f inancial
statements. We do not express an opinion or provide any assurance on the information because the
limited procedures do not provide us with sufficient evidence to express an opinion or provide any
assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The introductory section, combining and individual fund
financial statements and schedules, and statistical section, are presented for purposes of additional
analysis and are not a required part of the financial statements.
The combining and individual fund financial statements and schedules are the responsibility of
management and were derived from and relate directly to the underlying accounting and other records
used to prepare the basic financial statements. Such information has been subjected to the auditing
procedures applied in the audit of the financial statements and certain additional procedures , including
comparing and reconciling such information directly to the underlying accounting and other records
used to prepare the basic financial statements or to the basic financial statements themselves, and other
additional procedures in accordance wit h auditing standards generally accepted in the United States of
America. In our opinion, the combining and individual fund financial statements and schedules are fairly
stated in all material respects in relation to the basic financial statements as a whol e.
The introductory and statistical sections have not been subjected to the auditing procedures applied in
the audit of the basic financial statements and, accordingly, we do not express an opinion or provide
any assurance on them.
The Members of the City Council and Manager of
City of Colleyville, Texas
5
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 19,
2019, on our consideration of the City’s internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, and grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on internal control
over financial reporting or on compliance. That report is an integral part of an audit perf ormed in
accordance with Government Auditing Standards in considering the City’s internal control over financial
reporting and compliance.
WEAVER AND TIDWELL, L.L.P.
Dallas, Texas
March 19, 2019
6
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7
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, 2018.
We encourage readers to consider the information presented here in co njunction with additional
information that we have furnished in our letter of transmittal, which can be found on pages v – x of this
report
Financial Highlights
The assets of the City of Colleyville exceeded its liabilities as of September 30, 2018, by $210,726,373
(net position). Of this amount, $58,279,057 (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 $4,843,898 from FY 2018 operations.
As of the close of the current fiscal year, the City of Colleyville’s governmental funds reported
combined ending fund balances of $42,241,171. Of this amount, $8,991,999 is unassigned fund
balance available for use within the City’s fund designation and fiscal policies.
As of September 30, 2018, unreserved, unassigned fund balance for the General Fund was
$8,991,999 or 42.99% 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 19 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 deferr ed
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.
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 fee s and charges (business-type
activities). The governmental activities of the City include General Government, Public Safety, Public
Works, and Cultural and Recreation. The business-type activities of the City include Water and
Wastewater, and Drainage Utility.
8
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 accounti ng to ensure and demonstrate compliance with finance -related
legal requirements. All of the funds of the City can be divided into three categories: governmental, funds,
proprietary funds, and fiduciary funds. The fund financial statements for governmental funds, proprietary
funds, and fiduciary funds can be found in the financial section of this report.
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 evaluation 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 27 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, Colleyville Economic Development, 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.
Proprietary funds provide the same type of information as the government -wide financial statements,
only in more detail. The basic proprietary f und financial statements, which begin on page 33 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.
Fiduciary Funds – Fiduciary funds are used to account for resources held for the benefit of parties outside
the City. Fiduciary funds are not reflected in the government -wide financial statements because the
resources of those funds are not available to support the City’s own programs. The F iduciary fund
statement is presented on page 37. The accounting used for fiduciary funds is similar to the accounting
used for proprietary funds. The City has two agency funds: Employee Activity and Sesquicentennial Fund.
Agency funds are one of the City’s fiduciary fund types. The agency funds account for funds held in an
agency capacity for the benefit of the City employees and for the benefit of the City’s historical purposes.
Notes to the Financial Statements – The notes provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements. The notes to
the financial statements can be found on pages 41 – 67 of this report.
9
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 non-major funds are presented
beginning on page 81 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 $210,726,373 as of September 30, 2018.
The largest portion of the City’s net position ($143,942,986) reflects its investments in capital assets (e.g.,
land, building, equipment, improvements, construction in progress and infrastructure), less any
outstanding debt used to acquire those assets. The City uses these capital assets to provide service to
citizens; consequently, these assets are not available for future spending. Although the City’s investment
in its capital assets is reported net of related debt, it should be noted that the resources needed to repay
this debt must be provided from other sources, since the capital assets themselves cannot be used to
liquidate these liabilities.
City of Colleyville’s Net Position
2018 2017 2018 2017 2018 2017
Current and other assets 48,868,523$ 44,138,502$ 24,338,315$ 20,613,149$ 73,206,838$ 64,751,651$
Capital assets, net 112,588,679 112,067,401 43,923,237 44,698,792 156,511,916 156,766,193
Total assets 161,457,202 156,205,903 68,261,552 65,311,941 229,718,754 221,517,844
Deferred outflows of
resources 2,547,481 3,354,608 342,092 496,362 2,889,573 3,850,970
Current liabilities 2,594,456 3,565,444 1,722,655 1,960,547 4,317,111 5,525,991
Long-term liabilities 14,054,032 13,393,803 543,069 534,348 14,597,101 13,928,151
Total liabilities 16,648,488 16,959,247 2,265,724 2,494,895 18,914,212 19,454,142
Deferred inflows of
resources 2,590,749 28,414 376,993 3,783 2,967,742 32,197
Net position
Net Investment in
capital assets 100,382,597 99,881,334 43,560,389 44,123,735 143,942,986 144,005,069
Restricted 8,504,330 6,918,143 - - 8,504,330 6,918,143
Unrestricted 35,878,519 35,773,373 22,400,538 19,185,890 58,279,057 54,959,263
Total net position 144,765,446$ 142,572,850$ 65,960,927$ 63,309,625$ 210,726,373$ 205,882,475$
Activities Activities Primary Government
Governmental Business-type Total
A portion of the City’s net position ($8,504,330) represents resources that are subject to external
restriction on how they may be used. The remaining balance ($58,279,057) 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.
10
As of September 30, 2018, 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. In fiscal year
2018, the City adopted GASB 75, Accounting and Financial Reporting for Post -Employment Benefits Other
Than Pensions. Accordingly, the cumulative effect of the accounting changes as of the beginning of the
year, reducing the beginning of the year net position by $368,812 for Governmental activities and $53,163
for business-type activities for a total primary government decrease in beginning net position of $421,975.
Fiscal year 2018 governmental activities resulted in a $2,651,408 increase in net position. That increase was
primarily due to the increase in tax revenues (property taxes, sales taxes and franchise taxes) and the
city’s successful efforts to cut down on expenses. Fiscal year 2018 business-type activities resulted in a
$2,704,465 increase in net position. 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. In fiscal year 2018, TRA refunded the City more than $1.1M after calculating the
authority’s true up balances. The City also experienced a 2% increase in the water and wastewater
customer base as well as an increase in impact fees.
As of September 30, 2018, the City had $1,522,000 in capital projects outstanding that are funded by the
business-type activities. Pleasant Run John McCain to Tinker Waterline Replacement ($1,055,000), repairs
of elevated storage tanks ($20,000), design of pressure valve improvements ($48,000), plea sant run road
rehabilitation- Shelton Drive to John McCain ($124,000) and Replacement of 6” and 8” wastewater
pipelines ($275,000).
Tiered rates which have been in place since December 2012 were replaced with a flat rate structure in
July 2016. The flat rate provides a more equitable basis for our residents by charging a flat base rate that
varies depending on the meter size (rather than consumption) and a flat volumetric rate per thousand
gallons of usage. The new rate structure gave the residents a reli ef from high water bills in summer months.
Risk to the City is minimized under the new utility rate structure adopted in Fiscal Year 2016, which recovers
all of the City’s distribution and collection costs in the base rate component and costs related to th e
purchase of treated water or wastewater treatment are recovered in the volumetric component of the
rate.
Analysis of the City’s Operations – The following table provides a summary of the City’s operations for the
year ended September 30, 2018. Governmental activities increased the City of Colleyville’s net position
by $2,192,596. Business-type activities contributed an increase to the City’s net position of $2,651,302.
Those amounts are net of the cumulative effect of change in accounting principle rela ted to the
adoption of GASB 75, Accounting and Financial Reporting for Post -Employment Benefits Other Than
Pensions that reduced the beginning net position balance by $368,812 for governmental activities and
$53,163 for business-type activities.
11
City of Colleyville’s Changes in Net Position
2018 2017 2018 2017 2018 2017
Revenues:
Program revenues:
Charges for services 4,395,586$ 4,296,470$ 18,334,071$ 16,941,965$ 22,729,657$ 21,238,435$
Operating grants and
contributions 614,794 507,616 - - 614,794 507,616
Capital grants and
contributions 406,094 1,302,174 277,639 481,413 683,733 1,783,587
General revenues:
Property tax 15,471,246 14,548,461 - - 15,471,246 14,548,461
Sales tax 7,578,861 7,304,507 - - 7,578,861 7,304,507
Franchise tax 1,982,578 2,105,881 - - 1,982,578 2,105,881
Other tax 351,715 263,587 - - 351,715 263,587
Investment income 315,611 148,933 167,427 100,525 483,038 249,458
Miscellaneous 126,859 168,865 183,685 - 310,544 168,865
Gain on sale of
capital assets 51,620 17,000 - - 51,620 17,000
Total revenues 31,294,964 30,663,494 18,962,822 17,523,903 50,257,786 48,187,397
Expenses:
General government 5,330,690$ 4,881,741 - - 5,330,690 4,881,741
Community development 1,387,909 1,672,823 - - 1,387,909 1,672,823
Fire and rescue 5,690,454 5,524,975 - - 5,690,454 5,524,975
Leisure services 4,271,760 4,987,965 - - 4,271,760 4,987,965
Maintenance 738,834 1,243,614 - - 738,834 1,243,614
Municipal court 595,879 606,269 - - 595,879 606,269
Police 6,634,046 6,093,309 - - 6,634,046 6,093,309
Streets and drainage 4,009,383 3,578,365 - - 4,009,383 3,578,365
Water and wastewater - - 15,257,125 14,779,262 15,257,125 14,779,262
Drainage - - 740,994 646,145 740,994 646,145
Interest on long-term debt 334,839 408,268 - - 334,839 408,268
Total expenses 28,993,794 28,997,329 15,998,119 15,425,407 44,991,913 44,422,736
Increases (decreases) in
net position before transfers 2,301,170 1,666,165 2,964,703 2,098,496 5,265,873 3,764,661
Transfers 260,238 63,319 (260,238) (63,319) - -
Change in net position 2,561,408 1,729,484 2,704,465 2,035,177 5,265,873 3,764,661
Net position - October 1 142,572,850 140,843,366 63,309,625 61,274,448 205,882,475 202,117,814
Cumulative effect of change
in accounting principle (368,812) - (53,163) - (421,975) -
Net position - October 1, as restated 142,204,038 140,843,366 63,256,462 61,274,448 205,460,500 202,117,814
Net position - September 30 144,765,446$ 142,572,850$ 65,960,927$ 63,309,625$ 210,726,373$ 205,882,475$
Activities Activities Primary Government
Governmental Business-type Total
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.
12
In fiscal year 2018, the governmental funds’ unrestricted fund balance increase d by $125,239 due to a
number of factors. The General Fund is the only governmental fund that can have an unrestricted fund
balance. The total General Fund revenue was $997,488 above budget, including $830,519 in tax revenue
(property taxes, sales taxes and franchise taxes). Colleyville benefits from a strong residential base which
helps mitigate the negative effects of economic fluctuations. Despite the property tax rate reduction, the
General Fund’s property tax revenue was more than $350,000 above budget. Sales tax is the second
largest revenue source. Despite the massive construction project in the City’s primary commercial corridor
along Colleyville Boulevard (SH26), the sales tax revenue was $198,740 above budget due to the city’s
continuous efforts to support and market the impacted businesses during construction. The City began
quarterly promotion programs in 2018 to assist businesses impacted by State Highway 26 construction, a
3-mile $38 million roadway expansion project through the City’s main comm ercial corridor. Each quarter,
the City rolled out a new program. Quarter 1 was a business advertising grant, where 80 businesses utilized
grant funding to advertise their business. Quarter 2 was a partnership with the Grapevine -Colleyville ISD
in which school PTAs competed in the Colleyville Receipt Race. Schools collected receipts from Colleyville
businesses and the City provided first, second, and third place prizes for the PTAs who collected the most
receipts. During Quarter 3, the mailed each Colleyvil le household a $10 gift card twice to use at any
Colleyville business. The business provided a $10 discount with a minimum $20 purchase, and the City
reimbursed the businesses for the gift cards. Quarter 4 was called Colleyville Gives. The City brought bac k,
upon request, the advertising grants but this time, offered to double the grant if the business would donate
$500 to a local non-profit. Over $28,000 was donated to local charities.
Also, in fiscal year 2018, the City Council provided direction to t ransfer the excess fund balance above
100 days of reserves (policy minimum requires 90 day reserve) to the Capital Projects Fund to fund future
capital projects. The fiscal year 2018 excess fund balance allowed the Council to authorize a transfer of
$2,300,000 to the Capital Projects Fund, in addition to the originally budgeted transfers of $1,500,000, for
a total transfer of $3,800,000 which contributed to the net increase in the Capital Projects Fund balance
of $685,854. The aforementioned transfers from the General Fund to the Capital Projects Fund were
contained within funds that are in the governmental fund classification and did not change the total
governmental activities fund balance.
Fiscal year 2018 Debt Service Fund balance increased by $4,780 pr imarily due to $132,517 in greater than
anticipated property tax and investment interest revenues combined with a planned budgeted utilization
of $125,000 of surplus fund balance for the down payment on the lease-purchase agreement for a new
ambulance. The City of Colleyville has been focused on reducing and eliminating debt, working toward
a pay as you go method. The city has not issue d any new tax supported debt since 2007. All debt
issuances after that were refunding debts.
Proprietary funds- The unrestricted net position of the proprietary funds are $20,043,241 for the Water and
Wastewater Fund and $2,357,297 for the Drainage Utility Fund. In fiscal year 2018, the City adopted GASB
75, Accounting and Financial Reporting for Post -Employment Benefits Other Than Pensions. Accordingly,
the cumulative effect of the accounting changes as of the beginning of the year, reducing the beginning
of the year net position by $43,756 for the Water and Sewer fund and $9,407 for the Drainage fund for a
total business-type activity decrease in beginning net position of $5,163. Fiscal year 2018 activities resulted
in a net position increase of $2,428,194 in the Water and Sewer fund and $276,271 for the Drainage fund.
During fiscal year 2018, the revenues collected exceeded the budgeted amounts in many areas
including $1,126,820 in water and wastewater impact fees, $200,418 capital project rate revenues and
$277,639 in developer’s contributions. The Drainage fees were $39,047.51 above budget and the water
and wastewater sales were $491,846 above budget. The increase is primarily due to the expansion of the
city’s customer base by 2% and an increase in consumption by 10%. Tiered rates which have been in
place since December 2012 were replaced with a flat rate structur e in July 2016. The flat rate provides a
more equitable basis for our residents by charging a flat base rate that varies depending on the meter
size (rather than consumption) and a flat volumetric rate per thousand gallons of usage. The new rate
structure gave the residents a relief from high water bills in summer months. The new rates did include the
continued pass-through of the Trinity River Authority water and wastewater rate increases.
13
Governmental activities – There was an increase of $631,470 in revenue compared to fiscal year 2017.
Colleyville benefits from a strong residential base which helps mitigate the negative effects of economic
fluctuations. Property values have experienced a 10.04% growth over the prior year’s certified values.
Despite the tax rate reduction from $0.33913/$100 valuation to $0.333834/$100 valuation, the City’s actual
property tax revenue was $922,785 more than last year’s for the General Fund and the Debt Service Fund.
The current year tax collection rate was 99.6% of the le vy. The sales tax revenues increased by $274,351
for the General Fund, Colleyville Economic Development and the Colleyville Crime Control District. The
governmental activities experienced a total of $1,161,964 increase in tax revenues. Fiscal year 2017
reported an exceptionally higher than usual developer’s contribution but fiscal year 2018 numbers are in
line with historical trends.
Business-type activities – The City has two enterprise operations, the Waste and Wastewater Fund and the
Drainage Utility Fund. The total operating revenue of the Water and Sewer Fund was $17,516,576 for the
fiscal year with an increase of about $1,560,247 from the prior year due to many factors including an
increase of $352,150 in impact fees and an increase of $876,804 in the water and wastewater sales. In
fiscal year 2018, the water consumption increased by 10% with only 2% increase in the customer base.
Also, in December 2017, the volumetric rates went up to pass through the rate increase from the Trinity
River Authority, the City’s provider of treated water. The increase in the Trinity River Authority rates was the
primary factor behind the increase in the fund’s operating expense of about $484,725. The coverage ratio
for debt for this fund was 26.57 for the fiscal year, exclusive of transfers. The slight increase in the Drainage
Utility Fund’s operating revenue increase of about $15,544 was due to new residential and commercial
construction.
General fund budgetary highlights – With the FY18 budget, resources were allocated according to the
priorities of our citizens and City Council, while maintaining the conservative fiscal approach that has
allowed Colleyville to attain and maintain an AAA bond rating. Cost increases were absorbed via
reductions in other expenses or by identifying alternative fund sources, to allow any new revenue to be
allocated for priority areas.
The FY 2018 budget took a more aggressive approach to using the most restrictive funding source first, in
order to reduce the burden on the General Fund. Approximately $200,000 of eligible expenditures were
shifted to both the Colleyville Economic Development Corporation (CEDC) Fund and the Tax Increment
Financing (TIF) Fund. This generated a General Fund operating surplus that allows high priority issues to be
addressed.
In fiscal year 2017, a compensation and classification study was performed. It was a six month effort
guided by a committee of citizens, Councilmembers, and staff and it resulted in a new compensation
structure that was implemented in fiscal year 2018. Employees earning below the new minimum salary of
their position’s pay range received a market adjustment to bring them into the new ranges, and
feathering tenured employees into their ranges based on years of service to address compression. The
Fiscal year 2018 budget reflected the City Council’s bold vision of fully implementing the
recommendations of the 2017 Compensation and Classification Study for a total cost of just over $657,000.
Also in the fiscal year 2018, the City provided a staffing level of 206 full-time equivalents (FTEs), 2 FTEs more
than in fiscal year 2017. The two new FTEs were added by bringing certain landscaping work in -house, as
opposed to paying a contractor, and did not result in any net increase to the budget. Major capi tal
purchases included six vehicles for the police department, a pothole patching unit for public works and
a four-wheel drive fairway mower for the Parks department.
For the year ended September 30, 2018, revenues exceeded the final budget in the General Fund due
to tax receipts being greater than anticipated, and overall expenditures were lower than the budget due
to the City’s efforts to cut down on expenditures and when possible, moving expenditures out of the
General Fund to other eligible funding sources.
14
Refer to the General Fund Statement of Revenue, Expenditures and Changes in Fund Balances – Budget
and Actual on page 72 of this report for a detailed presentation of the actual General Fund operations
compared to both the original and final budget for fiscal year 2018.
Capital Assets
The City of Colleyville’s investment in capital assets for its governmental and business -type activities as of
September 30, 2018 amounts to $156,511,916 (net of accumulated depreciation). This investment in
capital assets includes land, building, equipment, improvements other than buildings, infrastructure, and
construction work in progress. Declines in overall asset valuations were due to accumulated
depreciation on aging assets. Major capital asset events occurring during the current fiscal year
included the following:
Capitalized $1,336,000 in street improvements, including Glade Road ($249,000), Bedford Road
($72,000) and Bedford Road retaining wall ($1,000,000).
Capitalized $350,000 for the Ambulance capital lease.
Capitalized $506,000 in water and $159,000 in wastewater.
City of Colleyville’s Capital Assets at Year End
2018 2017 2018 2017 2018 2017
Land 9,178,641$ 9,178,641$ 304,839$ 304,839$ 9,483,480$ 9,483,480$
Buildings and improvements 50,400,558 50,400,558 53,922 53,922 50,454,480 50,454,480
Equipment 14,018,330 12,872,812 2,264,969 2,019,281 16,283,299 14,892,093
Infrastructure/water distribution
sewer collection 99,522,267 98,134,864 80,398,064 79,732,627 179,920,331 177,867,491
Construction in progress 4,663,882 2,309,931 1,522,362 1,100,366 6,186,244 3,410,297
Less: accumulated depreciation (65,194,999) (60,829,405) (40,620,919) (38,512,243) (105,815,918) (99,341,648)
Total capital assets, net 112,588,679$ 112,067,401$ 43,923,237$ 44,698,792$ 156,511,916$ 156,766,193$
Primary GovernmentActivities Activities
Governmental Business-type Total
Additional information on the City’s capital assets can be found in Note 5, pages 53 – 55 of this report.
Debt Administration
At the end of the current fiscal year, the City of Colleyville had total bonded debt, notes payable and
capital lease obligations of $12,630,745. Of this amount, $5,665,000 represents bonded debt backed by
the full faith and credit of the government, $5,680,000 represents bonds secured by sales tax revenues,
and $365,000 represents bonds secured solely by drainage utility system revenues. The city paid off the
water and sewer revenue bonds in fiscal year 2018.
The City’s capitalized lease obligations of $637,365 pertain to the prior year lease purchase of a fire
pumper truck and mid-mount aerial platform fire apparatus and the newly added ambulance lease.
15
Outstanding Debt and Year End
Bonds, Notes and Capitalized Lease Obligations Payable
2018 2017 2018 2017 2018 2017
General obligation bonds and
certificates of obligation 5,665,000$ 7,125,000$ -$ -$ 5,665,000$ 7,125,000$
Sales tax revenue bonds 5,680,000 6,105,000 - - 5,680,000 6,105,000
Revenue bonds payable - - 365,000 630,000 365,000 630,000
Capital lease obligations 637,365 597,110 - - 637,365 597,110
Bond premiums 235,299 238,957 48,081 72,121 283,380 311,078
Total long-term debt 12,217,664$ 14,066,067$ 413,081$ 702,121$ 12,630,745$ 14,768,188$
Long-term debt to net
position percentage 8%10%1%1%6%7%
Activities Activities Primary Government
Governmental Business-type Total
The City’s General Obligation, Tax and Water Works and Sewer System Certificates of Obligation, and
Water Works and Sewer System Revenue Bond ratings are listed below.
Standard
Fitch Ratings & Poor's
General Obligations Bonds AAA AAA
Water Revenue Bonds AAA AAA
In July 2016, the AAA rating on the City’s General Obligation Bonds was reaffirmed by both Standard and
Poor’s and Fitch Ratings. These are the highest bond ratings assigned to municipal debt by these
agencies. The City’s Water Works and Sewer System Revenue Bond were paid off in fisc al year 2018.
Additional information on the City of Colleyville’s long -term debt can be found in Note 7 on pages 56 –
59 of this report
Economic Factors and Next Year’s Budgets and Rates
Colleyville benefits from a strong residential base, which helps mitigate the negative effects of economic
fluctuations. Property values have rebounded from the declines experienced in fiscal years 2011 and
2012, and have experienced tremendous growth in the last several years. 2018 certified values increased
7.7% in total, compared to 2017 certified values. One of the City Council’s highest priorities is minimizing
the tax burden of our citizens. As such, careful consideration is given to the amount of revenue (and
associated tax rate) needed, as opposed to simply maint aining a tax rate that brings in ever increasing
amounts of revenue due to increased property values. Any tax rate above the effective rate (i.e., that
brings in more revenue than the prior year, excluding revenue from new construction) must be fully
justified, with the reasons for adopting such a rate clearly communicated. For fiscal year 2019, the City
had a goal of adopting the effective tax rate, which was achieved by adopting a tax rate of
$0.320800/$100 valuation, a $0.013034 reduction from the fiscal year 2018 tax rate of $0.333834/$100
valuation. This rate reduction serves to provide some relief to property owners receiving higher appraisal
values, while also providing the revenue necessary to fund programs and services.
Sales tax is the second largest revenue source; however, the City’s primary commercial corridor along
Colleyville Boulevard (SH26) continues to be under full reconstruction. The City was pleased to see a 4%
increase in sales tax revenue from the previous year even with construction. Sales tax has been budgeted
conservatively with two percent growth for fiscal year 2019, and limited growth in future years, until
reconstruction has been completed. The City led aggressive efforts in 2018 to help businesses along the
commercial corridor which included advertising grants, a business receipt competition with school district
PTAs, and gift cards mailed to all Colleyville homes.
16
At the budget work session presentation on August 7, staff reviewed a five -year forecast for all operating
funds. That forecast includes estimates for expenditures and the revenues necessary to continue
balancing the budget. Ad valorem revenue was projected with growth of 0% in fiscal year 2019, reflecting
an effective tax rate, and sales tax was projected with limited growth for the reasons mentioned above.
The forecast for General Fund expenditures includes general cost increases of 3.2% for materials and
contractual services required each year, as well as personnel costs to continue funding appropriate
market and merit adjustments and increasing healthcare costs. These forecasts help staff and the City
Council focus on the long-term budgetary implications of current funding decisions. They also help to put
long-term goals into perspective relative to the overall resources available.
The fiscal year 2019 budget provides a staffing level of 200.5 full -time equivalents (FTEs), 4.0 FTEs less than
in fiscal year 2018. This was largely possible by eliminating layers of management within the organization
and developing a flatter organizational chart. These staffing efficiencies were all accomplished without
any layoffs, but rather through organic opportunities through vacancies. For fiscal year 2019, the City was
able to fully absorb a 7% increase in health insurance prem iums as well as implement a second-dollar
health reimbursement account for employees to help offset deductible costs.
Water and wastewater base rates are directly related to the City’s budget for the Utility Fund, and rates
are set to only recover the Cit y’s cost of operating the utility system. Based on the fiscal year 2019
budget, which includes declining debt payments and a slight increase in the number of customers, water
and wastewater base rates were lowered and the incremental difference was adde d to the capital
improvement plan base rate. The CIP base rate is a capital funding component of the rate structure to
ensure adequate cash funding of future utility capital project s. The total City portion of the utility bill for a
typical residential 1-inch water meter customer did not change.
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 Shereen Gendy, Chief Financial Officer, at 100 Main Street, Colleyville, Texas 76034, or call
(817) 503-1014.
17
Basic Financial Statements
18
This Page Intentionally Left Blank
19
Government-Wide
Financial Statements
20
This Page Intentionally Left Blank
City of Colleyville, Texas Exhibit 1
Statement of Net Position
September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
21
Governmental Business-type Component
Activities Activities Total Units
ASSETS
Cash and cash equivalents 18,411,475$ 7,493,985$ 25,905,460$ 1,575,549$
Investments 24,663,490 13,085,425 37,748,915 19,479,093
Receivables (net of allowance for uncollectibles of $293,344)
Accounts 107,034 2,600,700 2,707,734 7,721
Taxes 991,869 - 991,869 -
Loans 1,405,750 - 1,405,750 -
Due from other governments 702,750 - 702,750 -
Inventories 1,613 161,624 163,237 -
Prepaid items 2,175 - 2,175 -
Restricted assets:
Investments - 612,987 612,987 -
Accrued interest 58,718 14,873 73,591 9,474
Net pension asset 2,523,649 368,721 2,892,370 -
Capital assets:
Non-depreciable 13,842,523 1,827,201 15,669,724 10,290,048
Depreciable (net of depreciation)98,746,156 42,096,036 140,842,192 10,151,658
Total assets 161,457,202 68,261,552 229,718,754 41,513,543
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge for refunding 11,582 2,152 13,734 -
Deferred outflows - TMRS pension and OPEB 2,535,899 339,940 2,875,839 -
Total deferred outflows of resources 2,547,481 342,092 2,889,573 -
LIABILITIES
Accounts payable 1,881,478 985,743 2,867,221 152,532
Accrued liabilities 478,292 41,153 519,445 -
Accrued interest payable 54,986 1,583 56,569 4,763
Advances from developers 141,698 212,506 354,204 -
Customer deposits 38,002 481,670 519,672 -
Non-current liabilities:
Due within one year 2,416,347 117,577 2,533,924 649,040
Due in more than one year 11,637,685 425,492 12,063,177 669,041
Total liabilities 16,648,488 2,265,724 18,914,212 1,475,376
DEFERRED INFLOWS OF RESOURCES
Deferred inflows - TMRS pension 2,590,749 376,993 2,967,742 -
Total deferred inflows of resources 2,590,749 376,993 2,967,742 -
NET POSITION
Net investment in capital assets 100,382,597 43,560,389 143,942,986 19,123,625
Restricted:
Debt service 1,936,893 - 1,936,893 -
Court security and technology 74,767 - 74,767 -
Grant Programs 1,554 - 1,554 -
Leisure services 564,555 - 564,555 -
Economic development 4,471,253 - 4,471,253 -
Police 1,455,308 - 1,455,308 -
Unrestricted 35,878,519 22,400,538 58,279,057 20,914,542
TOTAL NET POSITION 144,765,446$ 65,960,927$ 210,726,373$ 40,038,167$
Primary Government
City of Colleyville, Texas
Statement of Activities
For the Fiscal Year Ended September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
22
Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
PRIMARY GOVERNMENT
Governmental activities:
General government 5,330,690$ 35,684$ 1,767$ 302,150$
Community development 1,387,909 1,447,081 - -
Fire and rescue 5,690,454 378,019 102,380 -
Leisure services 4,271,760 563,228 407,040 -
Maintenance 738,834 - - -
Municipal court 595,879 1,110,960 - -
Police 6,634,046 101,662 103,607 -
Streets and drainage 4,009,383 758,952 - 103,944
Interest on long-term debt 334,839 - - -
Total governmental activities 28,993,794 4,395,586 614,794 406,094
Business-type activities:
Water and sewer 15,257,125 17,332,891 - 277,639
Drainage 740,994 1,001,180 - -
Total business-type activities 15,998,119 18,334,071 - 277,639
TOTAL PRIMARY GOVERNMENT 44,991,913$ 22,729,657$ 614,794$ 683,733$
COMPONENT UNIT
Tax increment financing 1,050,960$ -$ -$ -$
Total component unit 1,050,960$ -$ -$ -$
General revenues and transfers:
Taxes:
Property taxes
Sales taxes
Franchise taxes
Other taxes
Interest on investments
Gain on sale of capital assets
Miscellaneous
Transfers
Total general revenues and transfers
Change in net position
Net position, beginning of year
Cumulative effect of change in
accounting principle
NET POSITION, end of year
Functions/Program Activities
Program Revenues
Exhibit 2
23
Governmental Business-type Component
Activities Activities Total Unit
(4,991,089)$ -$ (4,991,089)$ -
59,172 - 59,172 -
(5,210,055) - (5,210,055) -
(3,301,492) - (3,301,492) -
(738,834) - (738,834) -
515,081 - 515,081 -
(6,428,777) - (6,428,777) -
(3,146,487) - (3,146,487) -
(334,839) - (334,839) -
(23,577,320) - (23,577,320) -
- 2,353,405 2,353,405 -
- 260,186 260,186 -
- 2,613,591 2,613,591 -
(23,577,320)$ 2,613,591$ (20,963,729)$ -$
-$ -$ -$ (1,050,960)$
-$ -$ -$ (1,050,960)$
15,471,246$ -$ 15,471,246$ 5,628,258$
7,578,861 - 7,578,861 -
1,982,578 - 1,982,578 -
351,715 - 351,715 -
315,611 167,427 483,038 242,419
51,620 - 51,620 -
126,859 183,685 310,544 -
260,238 (260,238) - (257,950)
26,138,728 90,874 26,229,602 5,612,727
2,561,408 2,704,465 5,265,873 4,561,767
142,572,850 63,309,625 205,882,475 35,476,400
(368,812) (53,163) (421,975) -
144,765,446$ 65,960,927$ 210,726,373$ 40,038,167$
Net (Expense) Revenue and
Changes in Net Position
Primary Government
24
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25
Fund Financial Statements
26
This Page Intentionally Left Blank
27
Governmental Funds
Financial Statements
28
This Page Intentionally Left Blank
City of Colleyville, Texas Exhibit 3
Balance Sheet
Governmental Funds
September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
29
Colleyville Non-Major
Debt Capital Economic Governmental Governmental
General Service Projects Development Funds Funds
ASSETS
Cash and cash equivalents 289,390$ 662,683$ 10,920,988$ 2,956,116$ 3,582,298$ 18,411,475$
Investments 9,601,219 34,969 7,067,379 1,516,371 6,443,552 24,663,490
Receivables, net of allowances for
uncollectibles:
Accounts 107,034 - - - - 107,034
Taxes 967,642 24,227 - - - 991,869
Loans 135,750 1,270,000 - - - 1,405,750
Due from other funds 4,803 - - - - 4,803
Due from other governments - - - 337,581 365,169 702,750
Inventories 1,613 - - - - 1,613
Accrued interest 28,221 - 11,982 6,421 12,094 58,718
Prepaid items 2,175 - - - - 2,175
TOTAL ASSETS 11,137,847$ 1,991,879$ 18,000,349$ 4,816,489$ 10,403,113$ 46,349,677$
LIABILITIES
Accounts payable 894,624$ -$ 646,924$ 336,482$ 3,448$ 1,881,478$
Accrued liabilities 231,845 - 222,355 8,754 15,338 478,292
Advances from developers 47,548 - 94,150 - - 141,698
Due to other funds - - - - 4,803 4,803
Customer deposits 38,002 - - - - 38,002
Total liabilities 1,212,019 - 963,429 345,236 23,589 2,544,273
DEFERRED INFLOWS OF RESOURCES
Unavailable resources 270,329 1,293,904 - - - 1,564,233
TOTAL DEFERRED INFLOWS OF RESOURCES 270,329 1,293,904 - - - 1,564,233
FUND BALANCES
Nonspendable for:
Inventories 1,613 - - - - 1,613
Prepaid items 2,175 - - - - 2,175
Restricted for:
Debt service - 697,975 - - - 697,975
Court security and technology - - - - 74,767 74,767
Grant programs - - - - 1,554 1,554
Leisure services - - 564,555 564,555
Economic development - - - 4,471,253 - 4,471,253
Police - - - - 1,455,308 1,455,308
Committed for:
Strategic initiatives 659,712 - - - - 659,712
Leisure services - - - - 1,884,152 1,884,152
Capital projects - - 17,036,920 - 4,953,463 21,990,383
Assigned for:
Capital projects - - - - 1,423,668 1,423,668
Leisure services - - - - 22,057 22,057
Unassigned 8,991,999 - - - - 8,991,999
Total fund balances 9,655,499 697,975 17,036,920 4,471,253 10,379,524 42,241,171
TOTAL LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES 11,137,847$ 1,991,879$ 18,000,349$ 4,816,489$ 10,403,113$ 46,349,677$
City of Colleyville, Texas Exhibit 4
Reconciliation of the Governmental Funds
Balance Sheet to the Statement of Net Position
As of September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
30
TOTAL FUND BALANCES - GOVERNMENT FUNDS 42,241,171$
Amounts reported for governmental activities in the statement of net position
are different because:
Capital assets used in governmental activities are not current financial resources
and, therefore, are not reported in the governmental funds balance sheet 112,588,679
Interest payable on long-term debt does not require current financial resources;
therefore, interest payable is not reported as a liability in the governmental
funds balance sheet.(54,986)
OPEB asset has not been included in the governmental fund financial statements, as
these assets do not represent current financial resources.2,523,649
Revenues earned but not available within sixty days of the year end are not
recognized as revenue on the fund financial statements.1,564,233
For debt refundings, the difference between the acquisition price and net carrying
amount of the debt has been deferred and amortized in the government-wide
financial statements.11,582
Net deferred outflows of resources related to the City's net pension liability results in
an increase in net position in the government-wide financial statements.(54,850)
Long-term liabilities, including bonds payable, are not due and payable in the
current period and therefore are not reported in the fund financial statements.(14,054,032)
Net position of governmental activities 144,765,446$
City of Colleyville, Texas Exhibit 5
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Fiscal Year Ended September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
31
Colleyville Non-Major Total
Debt Capital Economic Governmental Governmental
General Service Projects Development Funds Funds
REVENUES
Taxes 20,863,094$ 830,318$ -$ 1,947,711$ 1,974,068$ 25,615,191$
Fines and forfeitures 746,988 - - - 111,721 858,709
Licenses, permits and fees 1,237,198 - - - - 1,237,198
Intergovernmental 210,377 654,200 - - 86,240 950,817
Charges for services 1,419,613 - - - - 1,419,613
Capital improvement fees - - 744,465 - - 744,465
Grants/Contributions 34,570 - - - 475,532 510,102
Investment earnings 119,745 566 85,291 26,749 83,260 315,611
Miscellaneous 98,449 - - - 29,177 127,626
Total revenues 24,730,034 1,485,084 829,756 1,974,460 2,759,998 31,779,332
EXPENDITURES
Current:
General government 4,481,360 57,974 75,326 169,545 4,784,205
Community development and engineering 1,342,270 - 7,554 - - 1,349,824
Fire and rescue 4,913,773 - - - 29,166 4,942,939
Leisure services 2,514,730 - - 540,232 227,891 3,282,853
Maintenance 701,424 - - - - 701,424
Municipal court 390,348 - - - 205,531 595,879
Police services 4,775,859 - - - 978,611 5,754,470
Streets and drainage 1,201,900 - 596,452 - - 1,798,352
Capital outlay 594,141 - 3,281,922 580,270 493,869 4,950,202
Debt service:
Principal retirement - 1,776,206 - 425,000 - 2,201,206
Interest and fiscal charges - 205,943 - 169,704 - 375,647
Total expenditures 20,915,805 1,982,149 3,943,902 1,790,532 2,104,613 30,737,001
Excess (deficiency) of revenues
over (under) expenditures 3,814,229 (497,065)(3,114,146)183,928 655,385 1,042,331
OTHER FINANCING SOURCES (USES)
Proceeds from a capital lease 356,459 - - - - 356,459
Proceeds from the sale of property 34,396 - - - 16,255 50,651
Transfers in 205,053 501,845 3,800,000 65,794 588,024 5,160,716
Transfers out (4,314,706) - - - (585,772) (4,900,478)
Total other financing sources (uses)(3,718,798)501,845 3,800,000 65,794 18,507 667,348
Net change in fund balances 95,431 4,780 685,854 249,722 673,892 1,709,679
Fund balances, beginning of year 9,560,068 693,195 16,351,066 4,221,531 9,705,632 40,531,492
FUND BALANCES, END OF YEAR 9,655,499$ 697,975$ 17,036,920$ 4,471,253$ 10,379,524$ 42,241,171$
City of Colleyville, Texas Exhibit 6
Reconciliation of the Statement of Revenues,
Expenditures and Changes In Fund Balances of
Governmental Funds to the Statement of Activities
For the Fiscal Year Ended September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
32
TOTAL NET CHANGE IN FUND BALANCES - GOVERNMENTAL FUNDS 1,709,679$
Amounts reported for governmental activities in the statement of activities
are different because:
Governmental funds report capital outlays as expenditures. However, in the statement
of activities the cost of those assets is allocated over their estimated useful lives and
reported as depreciation expense. This is the amount of capital assets recorded in
the current period.4,950,202
Depreciation expense on capital assets is reported in the statement of activities but does
not require the use of current financial resources. Therefore, depreciation expense is not
reported as expenditures in the governmental funds.(4,532,868)
The issuance of long-term debt (e.g. bonds) 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.
Also, governmental funds report the effect of premiums, discounts, and similar items when debt
is first issued, whereas the amounts are deferred and amortized in the statement of activities.
This amount is the net effect of the following items:
Proceeds from capital leases (356,459)$
Principal payments 2,201,206
Amortization of premiums and deferred losses (2,133) 1,842,614
Implementation of GASB 68 requires certain expenditures to be de-expended and recorded
as deferred. The following is the net effect of the current year pension expense ($1,344,796)
and contributions made during the year of $1,005,508.(339,288)
Current year changes in the long-term liability for compensated absences do not require
the use of current financial resources; and therefore, are not reported as expenditures
in governmental funds.(541,338)
Changes in the other post employment benefit assets and liabilities are not reported at
the fund level; however they are reported at the government-wide level.(21,937)
Current year changes in accrued interest payable do not require the use of current financial
resources; and therefore, are not reported as expenditures in governmental funds.25,568
Governmental funds do not recognize assets contributed by developers. However, in the
statement of activities the fair market value of those assets are recognized as revenue,
then allocated over their estimated useful lives and reported as depreciation expense.103,944
Certain revenues in the government-wide statement of activities that do not provide
current financial resources are not reported as revenue in the governmental funds.(635,168)
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES 2,561,408$
33
Proprietary Funds
Financial Statements
City of Colleyville, Texas Exhibit 7
Statement of Net Position
Proprietary Funds
September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
34
Water and Sewer Drainage Utility
Fund Fund Total
ASSETS
Current assets:
Cash and cash equivalents 6,884,859$ 609,126$ 7,493,985$
Investments 11,492,929 1,592,496 13,085,425
Accounts receivable, net of allowance 2,463,983 136,717 2,600,700
Inventories 161,624 - 161,624
Restricted assets:
Investments 481,670 131,317 612,987
Total current assets 21,485,065 2,469,656 23,954,721
Noncurrent assets:
Accrued interest 14,017 856 14,873
Net pension asset 302,419 66,302 368,721
Capital assets:
Land and improvements 304,839 - 304,839
Buildings 53,922 - 53,922
Utility system 76,095,052 4,303,012 80,398,064
Equipment and furniture 1,558,004 706,965 2,264,969
Construction in progress 1,522,362 - 1,522,362
Less: accumulated depreciation (38,797,782) (1,823,137) (40,620,919)
Total non-current assets 41,052,833 3,253,998 44,306,831
Total assets 62,537,898 5,723,654 68,261,552
DEFERRED OUTFLOW OF RESOURCES
Deferred charge for refunding - 2,152 2,152
Deferred outflows - TMRS pension and OPEB 284,623 55,317 339,940
Total deferred outflows of resources 284,623 57,469 342,092
LIABILITIES
Current liabilities:
Accounts payable 974,503 11,240 985,743
Accrued liabilities 35,190 5,963 41,153
Accrued interest payable - 1,583 1,583
Advances from developers 95,613 116,893 212,506
Customer deposits 481,670 - 481,670
Compensated absences - 2,577 2,577
Revenue bonds payable - 115,000 115,000
Total current liabilities 1,586,976 253,256 1,840,232
Noncurrent liabilities:
Compensated absences 93,536 18,849 112,385
Revenue bonds payable - 250,000 250,000
Net OPEB liability 51,940 11,167 63,107
Total non-current liabilities 145,476 280,016 425,492
Total liabilities 1,732,452 533,272 2,265,724
DEFERRED INFLOW OF RESOURCES
Deferred inflows - TMRS pension 310,431 66,562 376,993
Total deferred inflows of resources 310,431 66,562 376,993
NET POSITION
Net investment in capital assets 40,736,397 2,823,992 43,560,389
Unrestricted 20,043,241 2,357,297 22,400,538
TOTAL NET POSITION 60,779,638$ 5,181,289$ 65,960,927$
City of Colleyville, Texas Exhibit 8
Statement of Revenues, Expenses
and Changes in Net Position
Proprietary Funds
For the Fiscal Year Ended September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
35
Water and Sewer Drainage Utility
Fund Fund Total
OPERATING REVENUES
Metered water sales 11,329,423$ -$ 11,329,423$
Wastewater service charges 4,382,440 - 4,382,440
Drainage service charges - 989,926 989,926
Other charges and services 1,621,028 11,254 1,632,282
Miscellaneous 183,685 - 183,685
Total operating revenues 17,516,576 1,001,180 18,517,756
OPERATING EXPENSES
Personnel services 1,882,513 425,107 2,307,620
Maintenance and contractual services 11,075,599 103,110 11,178,709
Material and supplies 268,939 52,285 321,224
Depreciation and amortization 2,028,911 147,146 2,176,057
Total operating expenses 15,255,962 727,648 15,983,610
OPERATING INCOME (LOSS)2,260,614 273,532 2,534,146
NON-OPERATING REVENUES (EXPENSES)
Interest income 132,310 35,117 167,427
Interest expense (1,163) (13,346) (14,509)
Total non-operating revenues (expenses)131,147 21,771 152,918
Income (loss) before capital contributions and transfers 2,391,761 295,303 2,687,064
CAPITAL CONTRIBUTIONS AND TRANSFERS
Capital contributions 277,639 - 277,639
Transfers out (241,206) (19,032) (260,238)
Total capital contributions and transfers 36,433 (19,032) 17,401
Change in net position 2,428,194 276,271 2,704,465
Net position, beginning of year 58,395,200 4,914,425 63,309,625
Cumulative effect of change in accounting
principle (43,756) (9,407) (53,163)
NET POSITION, END OF YEAR 60,779,638$ 5,181,289$ 65,960,927$
City of Colleyville, Texas Exhibit 9
Statement of Cash Flows
Proprietary Funds
For the Fiscal Year Ended September 30, 2018
The Notes to the Financial Statements are an integral part of this statement.
36
Water and Sewer Drainage Utility
Fund Fund Totals
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers and users 17,414,806$ 982,026$ 18,396,832$
Cash payments to suppliers for goods and services (11,284,509) (153,115) (11,437,624)
Cash payments to employees for services (1,810,317) (414,265) (2,224,582)
Net cash provided by (used in) operating activities 4,319,980 414,646 4,734,626
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Transfers out (241,206) (19,032) (260,238)
Net cash provided by non-capital financing activities (241,206) (19,032) (260,238)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (851,225) (255,925) (1,107,150)
Principal payments on bonds (155,000) (110,000) (265,000)
Interest paid of debt (2,326) (14,510) (16,836)
Net cash used in capital and related financing activities (1,008,551) (380,435) (1,388,986)
CASH FLOWS FROM INVESTING ACTIVITIES
(Purchase) sale of investments (8,783,978) (1,524,199) (10,308,177)
Earnings on investments 125,617 34,566 160,183
Net cash provided by (used in) investing activities (8,658,361) (1,489,633) (10,147,994)
Net change in cash and cash equivalents (5,588,138) (1,474,454) (7,062,592)
Cash and cash equivalents, beginning of year 12,472,997 2,083,580 14,556,577
CASH AND CASH EQUIVALENTS, END OF YEAR 6,884,859$ 609,126$ 7,493,985$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED BY (USED IN) OPERATING ACTIVITIES
Operating income (loss)2,260,614$ 273,532$ 2,534,146$
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation and amortization 2,028,911 147,146 2,176,057
Decrease (increase) in assets and deferred outflows of resources:
Receivables (113,680) (19,154) (132,834)
Inventory 29,218 - 29,218
Net pension asset (302,419) (66,302) (368,721)
Deferred outflows - TMRS pension and OPEB 49,712 10,743 60,455
Increase (decrease) in liabilities and deferred outflows of resources:
Accounts payable 21,991 1,427 23,418
Accrued liabilities 8,820 852 9,672
Compensated absences 27,728 1,280 29,008
Customer deposits 11,910 - 11,910
Net pension liability (61,980) (12,040) (74,020)
Net OPEB liability 51,940 11,167 63,107
Deferred inflows - TMRS pension 307,215 65,995 373,210
Net cash provided by (used in) operating activities 4,319,980$ 414,646$ 4,734,626$
NON-CASH CAPITAL AND RELATED FINANCING
Contributions of capital assets from developers 277,639$ -$ 277,639$
37
Fiduciary Fund
Financial Statements
38
This Page Intentionally Left Blank
City of Colleyville, Texas Exhibit 10
Employee Activity Fund and Sesquicentennial Fund
Statement of Fiduciary Net Position
September 30, 2018
The Notes to Financial Statements are an integral part of this statement.
39
Agency Fund
ASSETS
Cash and cash equivalents 24,997$
TOTAL ASSETS 24,997$
LIABILITIES
Due to other agencies and individuals 24,997$
TOTAL LIABILITIES 24,997$
40
This Page Intentionally Left Blank
City of Colleyville, Texas
Notes to the Basic Financial Statements
41
Note 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 discretely presented component unit, on the other hand, is reported in a se parate
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-member board of
directors appointed by the City Council. Each of the direc tors 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 pr imary 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.
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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
42
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. Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement
focus and the accrual basis of accounting, as are the Proprietary Fund and Fiduciary Fund financial
statements, except for Agency Funds, which have no measurement focus. Revenues are recorded when
earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash
flows. Property taxes are recognized as revenue in the year for which they are levied. Grants and similar
items are recognized as revenue as soon as all eligibility requirem ents imposed by the provider have been
met.
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon
as they are both measurable and available. Revenues are considered to be available when they are
collectible within the current period or soon enough thereafter to pay liabilities of the current period.
For this purpose, the government considers revenue to be available if collected within 60 days of the
end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as
under accrual accounting. However, debt service expenditures, as well as expenditures related to
compensated absences and claims and judgments, are recorded only when payment is due.
Property taxes, franchise taxes, sales taxes, and interest associated with the current fiscal period are all
considered to be susceptible to accrual and so have been recognized as revenue of the current fiscal
period. All other revenue items are considered to be measurable and available only wh en cash is
received by the City.
City of Colleyville, Texas
Notes to the Basic Financial Statements
43
Governmental Funds
Governmental Funds are those through which most go vernmental 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 fund s. The measurement focus is upon determination of changes in financial position,
rather than upon net income determination . The following are the City's Governmental F und 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.
The Colleyville Economic Development 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.
Additionally, the Cit y also reports the following funds :
Special Revenue Funds — accounts for the revenues and expenditures associated with a special project
or purpose.
Proprietary Funds
Proprietary Funds are used to account for activities that are similar to those often found in the private
sector. The measurement focus is upon determination of net income and capital maintenance.
The City reports the following major Proprietary F unds:
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 o r 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, accountab ility, or other purposes. This fund is used to account for water and
wastewater operations.
The Drainage Utility Fund — is used to account for the establishment and maintenance of drainage
facilities within the municipal boundaries of the City. All activities necessary to provide such facilities are
accounted for in this fund, included but not limited to, administration, operations, maint enance, billing
and collections.
City of Colleyville, Texas
Notes to the Basic Financial Statements
44
Fiduciary Funds
Agency Fund — Fiduciary Funds are used to account for assets held by the City in a trustee capacity
or as an agent on behalf of others. Agency F unds are custodial in nature and do not present results
of operations or have a measu rement focus. The City has two Agency F unds: Employee Activity and
the Sesquicentennial Fund. T hese 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 repor ted 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 se rvices and producing and delivering goods in
connection with a Proprietary Fund's principal ongoing operations. The principal operating revenues of
the City's Enterprise Funds are charges to customers for sales and services. Operating expenses for
Enterprise Funds include the cost of sales and services, administrative expenses, and depreciation on
capital assets. All revenue and expenses not meeting this definition are reported as nonoperating
revenue and expenses.
D. Cash and Cash Equivalents and Investments
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.
The City's cash and cash equivalents are considered to be cash on hand and demand deposits.
Investments for the City are reported at fair value, except for the position in investment pools. The City's
investment in pools are reported at the net asset value per share (which approximates fair va lue) even
though it is calculated using the amortized cost method.
E. 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 o utstanding 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 uncollectible accounts receivable for utility billing is estimated as a per centage of
sales calculated based on historical experience. 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 receivabl es.
City of Colleyville, Texas
Notes to the Basic Financial Statements
45
Property taxes are imposed nonexchange revenues. Assets from imposed nonexchange transactions
are recorded when the entity has enforceable legal claim to the asset, or when the entity receives
resources, whichever comes first. The enforceable legal claim d ate for property taxes is
the assessment date. The assessment date has been designated in the enabling legislation as of
October 1. The City's property tax is levied on the assessed value listed as of the prior January 1. Taxes
are due upon receipt of the tax bill. All unpaid taxes become delinquent if not paid before
February 1 of the current fiscal year.
F. Inventories and Prepaid Items
Inventories are valued at cost using the first-in/first-out (FIFO) method and consist of expendable supplies
and vehicle repair parts. The cost of such inventories is recorded as exp enditures/expenses when
consumed rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded
as prepaid items in both the gov ernment-wide and fund financial statements. The cost of prepaid
items is recorded as expenditures/expenses when consumed rather than when purchased.
G. Capital Assets
Capital assets, which include property, plant, equipment and infrastructure assets (e.g. roads,
bridges, sidewalks and similar items) are reported in the applicable governmental or business -type
activities columns in the government -wide financial statements. The City defines capital assets as
assets with an initial, individual cost of more tha n $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 acquisition cost, which is the
price that would be paid to acquire an asset with equivalent service potential at the acquisition date.
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:
Assets Years
Buildings 15-50
Improvements 20-50
Equipment 5-10
Infrastructure (streets and drainage)50
Water distribution/sewer collection 5-40
H. Compensated Absences
City employees are granted vacation and sick pay in varying amounts. In the event of termination,
an employee is paid for all accumulated, unused vacation. Vacation pay is accrued as it vests to the
employee. Sick pay is recorded when paid or upon retirement wh en a maximum of 90 days is paid.
All vacation and sick pay is accrued when incurred in the government -wide and proprietary fund
financial statements.
City of Colleyville, Texas
Notes to the Basic Financial Statements
46
I. 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.
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.
J. 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 finan cial 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, grantors, 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 w as 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 Offic er.
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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
47
K. Minimum Unassigned Fund Balance
It is the goal of the City to achieve and maint ain 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 Util ity
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.
L. 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 a mounts 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.
M. 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 stat ement 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/OPEB contributions after measurement date — These contributions are deferred and recognized
in the following fiscal year.
Difference in projected and actual earnings on pension assets and OPEB liabilities — This difference is
deferred and amortized over a closed five year period.
Difference in expected actual pension/OPEB 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 wil l 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 infl ow of
resources (revenue) until that time. The government has one type of item, which arises only under a
modified accrual basis of accounting, which 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 four sources: property taxes, municipal fines
and ambulance fees, and a note payable from the component unit. These amounts are deferred and
recognized as an infl ow of resources in that period that the amounts become available. The City also
had a deferred inflow of resources for the following:
Difference in projected and actual earnings on pension assets and OPEB liabilities – The difference will be
amortized over a closed five year period.
City of Colleyville, Texas
Notes to the Basic Financial Statements
48
N. 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.
O. 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.
P. Pensions
For purposes of mea suring the net pension asset , pension related deferred outflows and inflows of
resources, and pe nsion expense, City specific informa tion 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 th e City's Total Pension Asset 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.
Q. Other Post-Employment Benefits
For purposes of measuring the total OPEB liability, deferred outflows of resources and deferred inflows
of resources related to OPEB, and OPEB expense, information has been determined based on the
City’s actuary report. For this purpose, OPEB expense recognized each fiscal year is equal to the
change in the total OPEB liability from the beginning of the year to the end of the y ear, adjusted for
deferred recognition of certain changes in the liability. Benefit payments are treated as being equal
to the employer’s yearly contributions for retirees. Information regarding the City’s Total OPEB 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. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than
Pensions.
Note 2. Stewardship, Compliance and Accountability
Budgetary Information
The City Council follows these procedures in establishing budgetary data reflected in the basic financial
statements:
1. Prior to September 1, the City Manager submits to the City Council a proposed operating
budget for the fiscal year commencing the following October 1. The operating budget
includes proposed expenditures and the means of financing them.
City of Colleyville, Texas
Notes to the Basic Financial Statements
49
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 approve d by
the City Council.
5. Formal budgetary integration is employed as a management control device during the year
for the General, Colleyville Economic Development Fund, Crime District Fund, Debt Service,
and Enterprise Funds. Budgetary control is maintained at the fund level. Internal budgets
prepared for various boards are reviewed by the City Council for expenditures of other Special
Revenue Funds. These budgeted expenditures are not formally adopted by the City Council.
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, Colleyville Economic Development Fund, Cr ime
District Fund, 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.
Note 3. Deposits and Investments
In fiscal year 2016, the City adopted GASB Statement No. 72 (GASB 72 ), Fair Value Measurement and
Application. GASB 72 was issued to address accounting and financial reporting issues related to fair value
measurements.
The City categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the v aluation inputs used to measure the fair
value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs
are significant other observable inputs; and Level 3 inputs are significant unobservable inputs.
City of Colleyville, Texas
Notes to the Basic Financial Statements
50
As of September 30, 2018, the City held the following fair value measurements:
Value at
September
30, 2018
Level 1
Inputs Level 2 Inputs
Level 3
Inputs
Percent of
Total
Investments
City:
Cash and cash equivalents:
Cash deposits - City 25,900,501$ -$ -$ -$
Petty Cash - City 4,959
Cash deposits - trust
and agency 24,997 - - -
Investments not subject to
fair value:
Investment pools:
TexPool 11,825,221 - - - 18%28
TexStar 10 - - - 0%30
Texas CLASS 9,015,892 - - - 14%55
LOGIC 439,754 - - - 1%34
Investments in certificates
of deposits:
Certificates of deposits 3,818,291 - - -
Investments by fair value level:
Federal Farm Credit Bonds 7,443,043 - 7,443,043 - 12%100
Federal Home Loan Bank Bonds 3,960,625 - 3,960,625 - 6%88
Freddie Mac 1,859,066 - 1,859,066 - 3%319
Total cash and investments
of the city 64,292,359 - 13,262,734 -
Component unit:
Cash and cash equivalents:
Cash deposits 1,575,549 - - -
Investments not subject to
fair value:
Investment pools:
Texas CLASS 4,007,061 - - - 19%55
TexPool 13,276,109 - - - 63%28
Investments by fair value level:
Federal Farm Credit Bonds 482,751 - 482,751 - 2%100
Federal Home Loan Bank Bonds 1,199,812 - 1,199,812 - 6%100
Freddie Mac 513,360 - 513,360 - 2%88
Total cash and investments
of the component unit 21,054,642 - 2,195,923 -
Total cash and investments of the
reporting entity 85,347,001$ -$ 15,458,657$ -$
Fair Value Measurements Weighted
Average
Maturity
(Days)
The City categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair
value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs
are significant other observable inputs; Level 3 inputs are significant unobservable inputs.
The Public Funds Investment Act (Government Code Chapter 2256) contains s pecific 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
City of Colleyville, Texas
Notes to the Basic Financial Statements
51
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 requirem ents of the Act and with local policies.
Investment Pools and non -negotiable Certificates of Deposit are measured at amortized cost or net
asset value and are exempt from fair value reporting and therefore have been excluded from the
hierarchy.
The amounts for TexStar, Texas Class, Logic and TexPool (pooled investments) are reported as
investments in the Statement of Net Position.
The Texpool, TexasClass and Logic investment pools are an external investment pool measured at
amortized cost. In or der to meet the criteria to be recorded at amortized cost, the investment pool
must transact at a stable net asset value per share and maintain certain maturity, quality, liquidity
and diversification requirements within the investment pool. The investmen t pool transacts at a net
asset value of $1.00 per share, has weighted average maturities of sixty days or less and weighted
average lives of 120 days or less. Investments held are highly rated by nationally recognized
statistical rating organizations, ha ve not more than 5% of portfolio with one issuer (excluding U.S.
government securities) and can meet reasonably foreseeable redemptions. Texpool has a
redemption notice period of one day and may redeem daily. The investment pool’s authority may
only impose restrictions on redemptions in the event of a general suspension of trading on major
securities markets, general banking moratorium or national state emergency that affects the pool’s
liquidity.
The TexStar investment pool is an external pool measured at NAV. TexStar’s strategy is to seek
preservation of principal, liquidity and current income through investment in a diversified portfolio of
short -term marketable securities. The City has no unfunded commitme nts related to the investment
pools. TexStar has a redemption notice period of one day and may redeem daily. The investment
pool’s authorities may only impose restrictions on redemptions in the event of a general suspension
of trading on major securities markets, general banking moratorium or national or state emergency
that affects the pool’s liquidity.
U.S. Government Agency Securities classified in Level 2 of the fair value hierarchy are valued using
a matrix pricing technique. Matrix pricing is used to value securities based on the securities’
relationship to benchmark quoted prices.
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 stat e 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 req uired by state statutes as of September 30, 2018 .
City of Colleyville, Texas
Notes to the Basic Financial Statements
52
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
assets in investments meet the requirements as n oted above.
Note 4. 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:
Water
Debt and Drainage
General Service Sewer Fee Total
Receivables:
Accounts 359,158$ 24,227$ 2,505,203$ 136,717$ 3,025,305$
Taxes 967,642 - - - 967,642
Loans 135,750 - - - 135,750
Gross receivables 1,462,550 24,227 2,505,203 136,717 4,128,697
Less allowance 252,124 - 41,220 - 293,344
Net total
receivables 1,210,426$ 24,227$ 2,463,983$ 136,717$ 3,835,353$
Governmental Funds Enterprise Funds
The City's property tax is levied each October 1 on the assessed value listed as of the prior January 1 for
all real property and certain personal property located in the City. The assessed value, net of exempt ions,
upon which the fiscal 2018 levy was based, was $4,875,661,443.
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 g reater 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 serv ice and debt
service for t he year ended September 30, 2018 , was $.333834 per $100 of assessed valuation.
Taxes are due by January 31 following the levy date. Tax collections, including related penalties
and interest, was $16,690,402 for the year ended September 30, 2018. Property taxes receivable at
September 30, 2018, were $204,478.
The appraisal of property within the City is the responsibility of a countywide appraisal district as
required by legislation passed by the Texas Legislature. The appraisa l district is required under such
legislation to assess all property within the appraisal district on the basis of 100% of its appraised value
and is prohibited from applying any assessment ratios. The value of property within the appraisal district
must be reviewed every three years; however, the City may, at its own expense, require annual reviews
of appraised values. The City may challenge appraised values established by the appraisal district
through various appeals and, if necessary, legal action.
City of Colleyville, Texas
Notes to the Basic Financial Statements
53
Note 5. Capital Assets
Capital asset activity for t he year ended September 30, 2018 , was as follows:
Primary Government
Beginning Capital Sales or Adjustments/Ending
Balance Acquisitions Disposals Transfers Balance
Governmental activities:
Capital assets not being depreciated:
Land 9,178,641$ -$ -$ -$ 9,178,641$
Construction-in-progress 2,309,931 3,769,392 - (1,415,441) 4,663,882
Total capital assets not
being depreciated 11,488,572 3,769,392 - (1,415,441) 13,842,523
Capital assets being depreciated:
Buildings and building improvements 50,400,558 - - - 50,400,558
Machinery and Equipment 12,872,812 1,233,236 (167,274) 79,556 14,018,330
Improvements other than buildings 98,134,864 51,518 - 1,335,885 99,522,267
Total capital assets being depreciated 161,408,234 1,284,754 (167,274) 1,415,441 163,941,155
Accumulated depreciation:
Buildings and building improvements (20,634,185) (1,368,995) - - (22,003,180)
Machinery and Equipment (9,997,434) (1,113,519) 167,274 - (10,943,679)
Improvements other than buildings (30,197,786) (2,050,354) - - (32,248,140)
Total accumulated depreciation (60,829,405) (4,532,868) 167,274 - (65,194,999)
Total capital assets being depreciated, net 100,578,829 (3,248,114) - 1,415,441 98,746,156
Governmental activities capital assets, net 112,067,401$ 521,278$ -$ -$ 112,588,679$
Beginning Capital Sales or Adjustments/Ending
Balance Acquisitions Disposals Transfers Balance
Business-Type activities:
Capital assets not being depreciated:
Land 304,839$ -$ -$ -$ 304,839$
Construction in progress 1,100,366 763,269 - (341,273) 1,522,362
Total capital assets not
being depreciated 1,405,205 763,269 - (341,273) 1,827,201
Capital assets being depreciated:
Buildings and building improvements 53,922 - - - 53,922
Machinery and equipment 2,019,281 297,356 (51,668) - 2,264,969
Improvements other than buildings 79,732,627 324,164 - 341,273 80,398,064
Total capital assets being depreciated 81,805,830 621,520 (51,668) 341,273 82,716,955
Accumulated depreciation:
Buildings and building improvements (51,439) (622) - - (52,061)
Machinery and equipment (1,643,690) (210,908) 51,668 - (1,802,930)
Improvements other than buildings (36,817,114) (1,948,814) - - (38,765,928)
Total accumulated depreciation (38,512,243) (2,160,344) 51,668 - (40,620,919)
Total capital assets being depreciated, net 43,293,587 (1,538,824) - 341,273 42,096,036
Business type activities capital assets, net 44,698,792$ (775,555)$ -$ -$ 43,923,237$
City of Colleyville, Texas
Notes to the Basic Financial Statements
54
Beginning Capital Sales or Adjustments/Ending
Balance Acquisitions Disposals Transfers Balance
Component unit activities:
Capital assets not being depreciated:
Construction-in-progress 12,655,623$ 1,616,705$ -$ (3,982,280)$ 10,290,048$
Total capital assets not
being depreciated 12,655,623 1,616,705 - (3,982,280) 10,290,048
Capital assets being depreciated:
Improvements other than buildings 6,878,536 62,758 - 3,982,280 10,923,574
Total capital assets being depreciated 6,878,536 62,758 - 3,982,280 10,923,574
Accumulated depreciation:
Improvements other than buildings (546,145) (225,771) - - (771,916)
Total accumulated depreciation (546,145) (225,771) - - (771,916)
Total capital assets being depreciated, net 6,332,391 (163,013) - 3,982,280 10,151,658
Component unit activities capital assets, net 18,988,014$ 1,453,692$ -$ -$ 20,441,706$
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government 422,939$
Public safety 1,098,751
Public works 2,096,078
Culture and recreation 915,100
Total depreciation expense -
governmental activities 4,532,868$
Business-type activities:
Water and sewer 2,013,915
Drainage utility 146,429
2,160,344$
City of Colleyville, Texas
Notes to the Basic Financial Statements
55
Construction Commitments
The government has active construction projects as of September 30, 201 8. The major projects are listed
as follows:
Remaining
Project Spent-to-date Commitment
Glade Road reconstruction Phase 1 1,733,074$ 270,273$
Glade Road design Phases 2-4 795,518.52 146,611.88
Glad Road (Phase 2 - Manning to Pool) - ROW 342,673.00 87,327.00
Glade Road PH II ROW Consultant 89,684.10 42,815.90
Pleasant Run - John McCain to Shelton - design 327,613.35 37,486.65
Pleasant Run - John McCain to Shelton 4,081,160.46 857,400.72
Water Project 9 20,400.00 206,200.00
Frontier Court drainage - design 41,600.00 6,400.00
McDonwell School Road and Westcoat Drive Roundabout- design 76,159.51 80,519.49
Water Project 8 - design 47,960.00 3,380.00
WW Project 3 - design 20,915.76 6,084.24
WW Project 3 - construction 157,404.28 463,789.22
Total 7,734,163$ 2,208,288$
Note 6. Interfund Transactions
The composition of interfund transfers as of September 30, 201 8, is as follows:
Colleyville Nonmajor
Debt Capital Economic Government
General Service Projects Development Funds Total
Transfer out:
General fund -$ -$ 3,800,000$ -$ 514,706$ 4,314,706$
Nonmajor governmental funds 8,133 501,845 - 65,794 10,000 585,772
Water and wastewater 196,920 - - - 44,286 241,206
Drainage fee - - - - 19,032 19,032
Total 205,053$ 501,845$ 3,800,000$ 65,794$ 588,024$ 5,160,716$
Transfer in
The most significant interfund transfer s include the transfer of $3,800,000 from the General Fund to the
Capital Projects and no major governmental funds represents transfers for capital replacement.
The transfer of $501,845 from the Crime Control District to the Debt Service Fund is for the r epayment
of debt. All principal and interest is paid from the Debts Service Fund. The $196,920 from the water and
wastewater fund to the General Fund is a budgeted transfer for the fund’s share of administrative
expenses.
City of Colleyville, Texas
Notes to the Basic Financial Statements
56
Note 7. 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 genera l obligation bonds issued in prior years was $35,540,000.
General obligation bonds are direct obligations and pledge the full faith and credit of the
government. These bonds generally are issued as 20 -year serial bonds with equal amounts of principal
maturing each year.
Long-term liability activity for t he year ended September 30, 2018 , was as follows:
Amount
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Governmental activities:
General obligation bonds and
certificates of obligation 7,125,000$ -$ (1,460,000)$ 5,665,000$ 1,510,000$
Sales tax revenue bonds 6,105,000 - (425,000) 5,680,000 445,000
Bond premiums 238,957 - (3,658) 235,299 10,020
Capital leases payable 597,112 356,459 (316,206) 637,365 193,690
Compensated absences 857,241 541,338 - 1,398,579 257,637
Net OPEB liability 371,316 66,473 - 437,789 -
Total governmental activities 15,294,626$ 964,270$ (2,204,864)$ 14,054,032$ 2,416,347$
Amount
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Business-type activities:
Revenue bonds and certificates
of obligation 630,000$ -$ (265,000)$ 365,000$ 115,000$
Bond premiums 24,939 - (24,939) - -
Compensated absences 85,954 29,008 - 114,962 2,577
Net OPEB liability 53,531 9,576 - 63,107 -
Total business-type activities 794,424$ 38,584$ (289,939)$ 543,069$ 117,577$
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Component unit:
Note payable to primary government 1,880,000$ -$ (610,000)$ 1,270,000$ 625,000$
Bond premiums 72,121 - (24,040) 48,081 24,040
Total component unit 1,952,121$ -$ (634,040)$ 1,318,081$ 649,040$
For the governmental activities, compensated absences are generally liquidated by the General Fund.
City of Colleyville, Texas
Notes to the Basic Financial Statements
57
Long-term liabilities at September 30, 2018, consisted of the following:
Final Interest Business-
General Obligation Bonds and Certificates of Obligation Maturity Rates Governmental Type
$4,895,000 Series 2006, General Obligation Refunding Bonds 2019 3.64%540,000$ -$
$2,945,000 Series 2011, General Obligation Refunding Bonds 2020 2.0 - 4.0%330,000 -
$6,225,000 Series 2016, General Obligation Refunding Bonds 2027 2.0 - 3.0%4,795,000 -
5,665,000$ -$
Final Interest Business-
Governmental Revenue Bonds Maturity Rates Governmental Type
$7,330,000 Series 2013, Refunding and Improvement
Sales Tax Revenue Bonds 2029 2.88%5,680,000$ -$
$1,550,000 Series 2011, Waterworks and Wastewater
System Refunding Bonds 2021 3.47%- 365,000
5,680,000$ 365,000$
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, 201 8, the City was in compliance with these
requirements.
The City's component unit, the Tax Increment Financing District, long-term liabilities at September 30, 2018,
consisted of the following:
Tax Increment Financing District
Final Interest Component
Notes Payable Maturity Rates Unit
$2,480,000 Note payable to primary government 2020 2.0 - 4.0%1,270,000$
1,270,000$
City of Colleyville, Texas
Notes to the Basic Financial Statements
58
Governmental -type Activities
General Obligation Bonds and Certificates of Obligation
Fiscal Years Ending
September 30,Principal Interest Total
2019 1,510,000$ 133,128$ 1,643,128$
2020 1,045,000 91,425 1,136,425
2021 410,000 68,750 478,750
2022 425,000 56,225 481,225
2023 435,000 43,325 478,325
2024-2027 1,840,000 74,600 1,914,600
Total 5,665,000$ 467,453$ 6,132,453$
Governmental Activities
General Revenue Bonds
Fiscal Years Ending
September 30,Principal Interest Total
2019 445,000$ 157,176$ 602,176$
2020 460,000 144,144 604,144
2021 470,000 130,752 600,752
2022 490,000 130,752 620,752
2023 500,000 102,672 602,672
2024-2028 2,720,000 286,272 3,006,272
2029 595,000 8,568 603,568
Total 5,680,000$ 960,336$ 6,640,336$
Governmental Activities
Business -type Activities
Revenue Bonds and Certificates of Obligation
Fiscal Years Ending
September 30,Principal Interest Total
2019 115,000$ 10,670$ 125,670$
2020 125,000 6,506 131,506
2021 125,000 2,169 127,169
Total 365,000$ 19,345$ 384,345$
Business-Type Activities
City of Colleyville, Texas
Notes to the Basic Financial Statements
59
Discretely Presented Component Unit – Tax Increment Financing Fund
Revenue Bonds and Certificates of Obligation
Fiscal Years Ending
September 30,Principal Interest Total
2019 625,000$ 28,725$ 653,725$
2020 645,000 9,675 654,675
Total 1,270,000$ 38,400$ 1,308,400$
Tax Increment Financing Fund
Capital Leases
The City has entered into lease agreements as lessee for financing and acquisition of vehicles and
equipment for public safety. 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.
In October 2017, the City entered into a capital lease agreement for a 2017 Ambulance. The total
amount financed was $356,459. The City will make annual payments of $49,988 through June 2022 at
an interest rate of 3.42%.
The future minimum lease obligations and the net present value of these minimum lease p ayments as
of September 30, 2018, were as follows:
Fiscal Years Ending
September 30,
2019 208,418$
2020 93,673
2021 95,219
2022 96,818
2023 48,484
2024-2027 194,134
Total minimum lease payments 736,746
Less: amount representing interest (99,381)
Present value of minimum lease payments 637,365$
Governmental
Activities
Note 8. Defined Benefit Pension Policies
Plan Descriptions
The City participates as one of 883 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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
60
All eligible employees of the City are required to participate in TMRS.
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 employe e'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 o f 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 7%
Matching ratio (City to employee)2 to 1
Years required for vesting 5
Service retirement eligibility Twenty years to any age, five
years at age 60 and above
Updated service credit 100% repeating, transfers
Annuity increase to retirees 0% of CPI
Employees Covered by Benefit Terms
At the December 31, 2017 valuation and measurement date, the following employees were covered by
the benefit –terms:
Inactive employees or beneficiaries currently receiving benefits 123
Inactive employees entitled to but not yet receiving benefits 141
Active employees 185
449
Contributions
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 as 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.
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 8.57% and 8.97% in calendar years 2017 and 2018, respectively.
The city's contributions to TMRS for the year ended September 30, 2018, were $1,150,466, and were equal
to the required contributions.
Net Pension Liability/(Asset)
The City's Net Pension Liability/(Asset) was measured as of December 31, 2017, and the Total Pension
Liability/(Asset) used to calculate the Net Pension Liability was determined by an actuarial valuation as
of that date.
City of Colleyville, Texas
Notes to the Basic Financial Statements
61
Actuarial Assumptions
The Total Pension Liability/(Asset) in the December 31, 2017 actuarial valuation was determined using the
following actuarial assumptions:
Inflation 2.5% per year
Overall payroll growth 3.00% per year
Investment Rate of Return 6.75%, 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 Tables wit h
Blue Collar Adjustment, with male rates multiplied by 109% and female rates multiplied by 103%. Based
on the size of the city, rates are multiplied by a factor of 100%. The rates are projected on a fully
generational basis by scale BB to account for futu re mortality improvements. For disabled annuitants,
the gender-distinct RP2000 Combined Healthy Mortality Tables with Blue Collar Adjustments are used
with males rates multiplied by 109% and female rates multiplied by 103% with a 3 -year-set-forward for
both males and females. In addition, a 3% minimum mortality rate is applied to reflect the impai rment
for younger members who become disabled. The rates are projected on a fully generational basis by
scale BB to account for future mortality improvements subject to the 3% floor.
The actuarial assumptions were developed primarily from the actuarial investigation of the
experience of TMRS over the four year period from December 31, 2010 to December 31, 2014. They
were adopted in 2015 and first used in the D ecember 31, 2015 actuarial valuation. The post -retirement
mortality assumption for healthy annuitants and Annuity Purchase Rate (APRs) are based on the
Mortality Experience Investigation Study covering 2009 through 2011 and dated December 31, 2013.
In conjunction with these changes first used in the December 31, 2013 valuation, the System adopted
the Entry Age Normal Actuarial cost method and a one -time change to the amortization policy. Plan
assets are manages on a total return basis with an emphasis on bo th capital appreciation as well as
the production of income, in order to satisfy the short -term and long-term funding needs of TMRS.
City of Colleyville, Texas
Notes to the Basic Financial Statements
62
The long-term expected rate of return on pens ion plan investments was determ ined 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 rangers 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. In determining their best estimate of a recommended investment return
assumption under the various alternative asset allocation portfolios, GRS focused on the area between
(1) arithmetic mean (aggressive) without an adjustment for time (conservative) and (2) the geometric
mean (conservative) with an adjustment for time (aggressive). The target allocati on and best
estimates of arithmetic real rates of return for each major assets class in fiscal year 2018 are summarized
in the following table:
Long-Term
Expected Real
Target Rate of Return
Asset Class Allocation (Arithmetic)
Domestic equity 17.5%4.55%
International equity 17.5%6.35%
Core fixed income 10.0%1.00%
Non-core fixed income 20.0%3.90%
Real return 10.0%3.80%
Real estate 10.0%4.50%
Absolute return 10.0%3.75%
Private equity 5.0%7.50%
Total 100.0%
Discount Rate
The discount r ate used to measure the Total Pension Liability/(Asset) was 6.75%. 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/(Asset).
City of Colleyville, Texas
Notes to the Basic Financial Statements
63
Changes in the Net Pension Liability/(Asset)
Total Plan Net
Pension Fiduciary Pension
Liability(Asset)Net Position Liability(Asset)
(a)(b)(a) - (b)
Balance at December 31, 2016 52,324,015$ 51,702,218$ 621,797$
Changes for the year:
Service cost 2,045,941 - 2,045,941
Interest 3,528,308 - 3,528,308
Change of benefit terms - - -
Difference between expected and
actual experience 19,139 - 19,139
Changes of assumptions - - -
Contributions - employer - 1,082,013 (1,082,013)
Contributions - employee - 898,468 (898,468)
Net investment income - 7,166,092 (7,166,092)
Benefit payments, including refunds
of employee contributions (2,151,523) (2,151,523) -
Administrative expense - (37,136) 37,136
Other changes - (1,882) 1,882
Net changes 3,441,865 6,956,032 (3,514,167)
Balance at December 31, 2017 55,765,880$ 58,658,250$ (2,892,370)$
Increase (Decrease)
The following presents the net pension liability/(asset) of the City, calculated using the discount ra te of
6.75%, as well as what the City's net pension liability would be if it were calculated using a discount rate
that is one-percentage-point lower (5.75%) or one-percentage-higher (7.75%) than the current rate:
1% Decrease 1% Increase
in Discount Discount in Discount
Rate (5.75%)Rate (6.75%)Rate (7.75%)
Net pension liability(asset)4,887,914$ (2,892,370)$ (9,300,270)$
Pension Plan Fiduci ary Net Position
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, 2018, the City recognized pension expense of $1,538,670. The
General Fund, Capital Projects Fund, Colleyville Economic Development Fund, Water and Sewer Fund,
Drainage Utility Fund, Crime District Fund, and Juvenile Case Manger Fund have been used to liquidate
pension liabilities.
City of Colleyville, Texas
Notes to the Basic Financial Statements
64
At September 30, 2018, the City reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual economic experience 156,165$ (20,575)$
Changes in actuarial assumptions 347,736 -
Difference between projected and actual investment earnings (1,485,094)
Contributions subsequent to the measurement date 875,367 -
Total 1,379,268$ (1,505,669)$
$875,367 reported as deferred outflows of resources related to pensions resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the net pension
liability/(asset) for the measurement year ending December 30, 2018 (i.e. recognized in the City’s
financial statements for the year ended September 30, 2019). Other amounts reported as deferred
outflows and inflows of resources related to pensions will be recognize d in pension expense as follows :
Fiscal
Net Deferred
Outflows
Years Ended (Inflows) of
September 30, Resources
2018 309,392$
2019 124,230
2020 (702,313)
2021 (733,077)
2022 -
Total (1,001,768)$
Note 9. Other Postemployment Benefits
Plan Description
The City participates in a defined benefit group -term life insurance plan known as the Supplemental
Death Benefits Fund (SDBF) administered by the Texas Municipal Retirement System (TMRS). The City has
elected, by ordinance, to participate in this program and provide group-term life insurance coverage for
their active members and retirees. As the SDBF covers both active and retiree participants, with no
segregation of assets, the SDBF is considered to be a single-employer unfunded OPEB plan.
Membership in the plan at December 31, 2017, the date of the latest actuarial valuation, consists of the
following:
Inactive employees currently receiving benefits 83
Inactive employees entitled to but not yet receiving benefits 18
Active employees 185
Total 286
City of Colleyville, Texas
Notes to the Basic Financial Statements
65
Valuation of Assets
For purposes of calculating the Total OPEB Liability, the plan is considered to be unfunded and therefor e
no assets are accumulated for OPEB.
Actuarial Assumptions:
The OPEB Liability in the December 31, 2017 actuarial valuation was determined using the following
actuarial assumptions:
Inflation 2.50%
Salary increases 3.00% per year
Discount rate 3.31%
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 Tables with
Blue Collar Adjustment, with male rates multiplied by 109% and female rates multiplied by 103%. Based
on the size of the city, rates are multiplied by a factor of 100%. 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 Combined Healthy Mortality Tables with Blue Collar Adjustments are used
with males rates multiplied by 109% and female rates multiplied by 103% with a 3 -year-set-forward for
both males and females. In addition, a 3% minimum mortality rate is applied to reflect the impai rment
for younger members who become disabled. The rates are projected on a fully generational basis by
scale BB to account for future mortalit y improvements subject to the 3% floor.
The actuarial assumptions were developed primarily from the actuarial investigation of the
experience of TMRS over the four year period from December 31, 2010 to December 31, 2014. They
were adopted in 2015 and first used in the December 31, 2015 actuarial valuation. The post -retirement
mortality assumption for healthy annuitants and Annuity Purchase Rate (APRs) are based on the
Mortality Experience Investigation Study covering 2009 through 2011 and dated December 31 , 2013.
In conjunction with these changes first used in the December 31, 2013 valuation, the System adopted
the Entry Age Normal actuarial cost method.
Discount Rate
Because the Supplemental Death Benefits Fund is considered an unfunded trust under GASB
Statement No. 75, the relevant discount rate for calculating the Total OPEB Liability is based on the
Fidelity Index’s “20-Year Municipal GO AA Index” rate as of the measurement date.
OPEB
Liability
Balance at December 31, 2016 424,847$
Changes for the year:
Service cost 21,820
Interest 16,399
Change of benefit terms -
Difference between expected and
actual experience -
Changes of assumptions 41,681
Benefit payments, including refunds
of employee contributions (3,851)
Net changes 76,049
Balance at December 31, 2017 500,896$
City of Colleyville, Texas
Notes to the Basic Financial Statements
66
The following presents the OPEB liability of the City, calculated using the discount ra te of 3.31%, as well
as what the City's net pension liability would be if it were calculated using a discount rate that is
one-percentage-point lower (2.31%) or one-percentage-higher (4.31%) than the current rate:
1% Decrease in
Discount Discount
1% Increase
in Discount
(2.31%)Rate (3.31%)(4.31%)
Net OPEB liability 608,797$ 500,896$ 417,957$
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB.
For the year ended September 30, 2018, the City recognized OPEB expense of $44,592. The General
Fund, Capital Projects Fund, Colleyville Economic Development Fund, Water and Sewer Fund,
Drainage Utility Fund, Crime District Fund, and Juvenile Case Manger Fund have been used to liquidate
OPEB liabilities.
At September 30, 2018, the City reported deferred outflows of resources and deferred inflows of
resources related to OPEB from the following sources:
Deferred
outflows of
Resources
Deferred
inflows of
Resources
Differences between expected and actual experience -$ -$
Changes in assumptions and other inputs 35,308 -
Contributions made subsequent to measurement date 2,977 -
Total 38,285$ -$
$2,977 reported as deferred outflows of resources related to OPEB resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the OPEB liability for the
measurement year ending December 30, 2018 (i.e. recognized in the City’s financial statements for
the year ended September 30, 2019). Other amounts reported as deferred outflows and inflows of
resources related to pensions will be recogn ized in pension expense as follows :
Net Deferred
Outflows
Years Ending (Inflows) of
September 30,Resources
2018 6,373$
2019 6,373
2020 6,373
2021 6,373
2022 6,373
Thereafter 3,443
Total 35,308$
City of Colleyville, Texas
Notes to the Basic Financial Statements
67
Note 1 0. 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 of
TRA's operating and maintenance expenses, related debt service costs, and certain other miscellaneous
charges. Purchases of treated water and charges for the transportation, treatment and disposal of
sewage and other wastes during fiscal year 2018 amounted to approximately $7,833,464 and $2,733,723,
respectively.
Note 11. 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.
Note 12. Risk Financing and Insurance
The City is exposed to various risks of loss related to torts, t heft 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 employ ees. 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.
Note 13. Tax Abatements
The City negotiates Chapter 380 sales tax rebate agreements on an individual basis. The City has tax
rebate agreements with one entity as of September 30, 2018. The agreement states that the company
desires to purchase and use new building materials within the City to generate additional sales and
use tax revenue for the City. Sales taxes abated under this agreement was 80% for a total of $28,178
for the year ended September 30, 2018.
Note 14. Cumulative Effect of Change in Accounting Principle
As a result of the implementation of GASB Statement No. 75, “Accounting and Financial Reporting for
Postemployment Benefits other than Pensions”, an adjustment has been made to record the City’s
total OPEB liability as of October 1, 2017. As a result, beginning net posit ion of the governmental
activities has been decreased by $368,812 and business-type activiti es has been decreased by
$53,163 .
68
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69
Required Supplementary Information
70
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71
Budgetary Comparison
Schedules
City of Colleyville, Texas Exhibit A-1
General Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2018
See Notes to the Budgetary Comparison Schedules
72
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 20,032,575$ 20,032,575$ 20,863,094$ 830,519$
Fines and forfeitures 920,460 920,460 746,988 (173,472)
Licenses, permits and fees 984,600 984,600 1,237,198 252,598
Intergovernmental 210,377 210,377 210,377 -
Charges for services 1,479,534 1,479,534 1,419,613 (59,921)
Grants/Contributions - - 34,570 34,570
Investment earnings 45,000 45,000 119,745 74,745
Miscellaneous 60,000 60,000 98,449 38,449
TOTAL REVENUES 23,732,546 23,732,546 24,730,034 997,488
EXPENDITURES
Current:
General government 5,145,324 5,145,324 4,481,360 663,964
Community development and engineering 1,556,643 1,556,643 1,342,270 214,373
Fire and rescue 4,972,946 4,972,946 4,913,773 59,173
Leisure services 2,649,708 2,649,708 2,514,730 134,978
Maintenance 726,724 726,724 701,424 25,300
Municipal court 438,865 438,865 390,348 48,517
Police services 4,878,543 4,878,543 4,775,859 102,684
Streets and drainage 1,690,994 1,690,994 1,201,900 489,094
Capital outlay 14,000 14,000 594,141 (580,141)
TOTAL EXPENDITURES 22,073,747 22,073,747 20,915,805 1,157,942
Excess of revenues over expenditures 1,658,799 1,658,799 3,814,229 2,155,430
OTHER FINANCING SOURCES (USES)
Proceeds from a capital lease - - 356,459 356,459
Proceeds from the sale of property 5,100 5,100 34,396 29,296
Transfers from other funds 196,920 196,920 205,053 8,133
Transfers to other funds (2,014,706) (2,014,706) (4,314,706) (2,300,000)
TOTAL OTHER FINANCING SOURCES (USES)(1,812,686) (1,812,686) (3,718,798) (1,906,112)
NET CHANGE IN FUND BALANCE (153,887) (153,887) 95,431 249,318
FUND BALANCES, beginning of year 9,560,068 9,560,068 9,560,068 -
FUND BALANCES, end of year 9,406,181$ 9,406,181$ 9,655,499$ 249,318$
Budgeted Amounts
City of Colleyville, Texas Exhibit A-2
Colleyville Economic Development Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2018
See Notes to the Budgetary Comparison Schedules
73
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 1,850,000$ 1,850,000$ 1,947,711$ 97,711$
Investment earnings 9,090 9,090 26,749 17,659
Total revenues 1,859,090 1,859,090 1,974,460 115,370
EXPENDITURES
General government 94,035 94,035 75,326 18,709
Leisure services 1,021,885 1,016,885 540,232 476,653
Capital outlay - 847,990 580,270 267,720
Debt service:
Principal retirement 425,000 425,000 425,000 -
Interest and fiscal charges 169,704 169,704 169,704 -
Total expenditures 1,710,624 2,553,614 1,790,532 763,082
Excess (deficiency) of revenues
over (under) expenditures 148,466 (694,524) 183,928 878,452
OTHER FINANCING SOURCES (USES)
Transfers from other funds - - 65,794 65,794
Total other financing sources (uses)- - 65,794 65,794
Net change in fund balance 148,466 (694,524) 249,722 944,246
FUND BALANCE, beginning of year 4,221,531 4,221,531 4,221,531 -
FUND BALANCE, end of year 4,369,997$ 3,527,007$ 4,471,253$ 944,246$
Budgeted Amounts
74
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City of Colleyville, Texas
Notes to the Budgetary Comparison Schedules
For the Fiscal Year Ended September 30, 2018
75
Budgetary Data
The City Council adheres to the following procedures in establishing the budgets reflected in the 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 taxpayers' comments.
3. Prior to September 30, the budget is legally enacted through passage of an ordinance.
4. Annual budgets are legally adopted for the General Fund, Debt Service Fund, the Colleyville
Economic Development Fund, and the Crime District Fund all on a basis consistent with
accounting principles generally accepted in the United States of America. Formal budgetary
integration is not employed for Proprietary Funds. However, the City does adopt an annual budget
for those funds for managerial control. Budgetary data for the Capital Projects Fund has not been
presented in the budgetary comparison schedules, as such funds are budgeted over the life of
the respective project and not on an annual basis. Accordingly, formal budgetary integration is
not employed for the Capital Projects Funds.
5. 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.
6. Expenditures in excess of appropriations for the year ended September 30, 2018 were:
General Fund:
Capital Outlay ($580,141)
The General Fund capital outlay expenditures exceeded appropriations by $580,141 mainly
due to the $356,459 ambulance lease, $168,396 streets equipment and $54,970 for a 14 passenger
shuttle for the senior center. This overage was funded by underspending in other functions.
City of Colleyville, Texas Exhibit A-3
Schedule of Changes in Net Pension Liability
and Related Ratios
Texas Municipal Retirement System
Last Four Measurement Years
76
Measurement Measurement Measurement Measurement
Year Year Year Year
2017 2016 2015 2014
Total pension liability:
Service cost 2,045,941$ 1,920,420$ 1,820,192$ 1,598,908$
Interest 3,528,308 3,302,291 3,149,676 2,938,763
Changes of benefit terms - - - -
Difference between expected and actual
experience 19,139 205,568 (55,444) 136,216
Change in assumptions - - 937,119 -
Benefit payments, including refunds of
employee contributions (2,151,523) (2,133,755) (1,814,665) (1,728,299)
Net change in total pension liability 3,441,865 3,294,524 4,036,878 2,945,588
Total pension liability - beginning 52,324,015 49,029,491 44,992,613 42,047,025
Total pension liability - ending (a)55,765,880 52,324,015 49,029,491 44,992,613
Plan fiduciary net position:
Contributions - employer 1,082,013 922,484 903,631 745,874
Contributions - employee 898,468 851,897 822,553 763,324
Net investment income 7,166,092 3,298,224 72,103 2,657,437
Benefit payments, including refunds of
employee contributions (2,151,523) (2,133,755) (1,814,665) (1,728,299)
Administrative expense (37,136) (37,249) (43,918) (27,747)
Other (1,882) (2,007) (2,170) (2,281)
Net change in plan fiduciary net position 6,956,032 2,899,594 (62,466) 2,408,308
Plan fiduciary net position - beginning 51,702,218 48,802,624 48,865,090 46,456,782
Plan fiduciary net position - ending (b)58,658,250 51,702,218 48,802,624 48,865,090
Net pension liability(asset) - ending (a) - (b)(2,892,370)$ 621,797$ 226,867$ (3,872,477)$
Plan fiduciary net position as a
percentage of total pension liability(asset)105.19%98.81%99.54%108.61%
Covered payroll 12,835,255$ 12,169,964$ 11,750,753$ 10,904,635$
Net pension liability(asset) as a percentage
of covered payroll -22.53%5.11%1.93%-35.51%
Note: Only four years of data is presented in accordance with GASB #68, paragraph 138. “The information for all period for the 10-
year schedules that are required to be presented as required supplementary information may be available initially. In these cases,
during the transition period, that information should be presented for as many periods as are available. The schedules should not
include information that is not measured in accordance with the requirements of this statement. Additional years’ information will
be displayed as it becomes available.”
City of Colleyville, Texas Exhibit A-4
Schedule of Contributions
Texas Municipal Retirement System
Last Five Fiscal Years
77
Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
2018 2017 2016 2015 2014
Actuarially determined contribution 1,538,670$ 1,048,848$ 941,907$ 868,363$ 738,034$
Contribution in relation of the actuarially
determined contribution 1,538,670 1,048,848 941,907 868,363 738,034
Contribution deficiency (excess)-$ -$ -$ -$ -$
Covered payroll 12,835,255$ 12,528,384$ 12,281,471$ 11,640,489$ 10,707,890$
Contributions as a percentage of covered
payroll 11.99%8.37%7.67%7.46%6.89%
Note: GASB #68, paragraph 81.2.b requires that the data in this schedule be presented as of the City’s fiscal year as opposed to
the time period covered by the measurement date.
Note: Only five years of data is presented in accordance with GASB #68, paragraph 138. “The information for all period for the 10-
year schedules that are required to be presented as required supplementary information may be available initially. In these cases,
during the transition period, that information should be presented for as many periods as are avai lable. The schedules should not
include information that is not measured in accordance with the requirements of this statement. Additional years’ information will
be displayed as it becomes available.”
City of Colleyville, Texas
Notes to Texas Municipal Retirement System- Net Pension Asset
Required Supplementary Information
For the Fiscal Year Ended September 30, 2018
78
Actuarial Cost Method Entry Age Normal
Amortization Method Level Percentage of Payroll, Closed
Remaining Amortization Period 29 years
Asset Valuation Method 10 Year smoothed market; 15% soft corridor
Inflation 2.50%
Salary Increases 3.50% to 10.5% including inflation
Investment Rate of Return 6.75%
Retirement Age Experience-based table of rates that are specific
to the City's plan of benefits. Last updated for the
2015 valuation pursuant to an experience study of
the period 2010 - 2014.
Mortality 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 with scale BB
Other Information There were no benefit changes during the year.
City of Colleyville, Texas Exhibit A-5
Schedule of Changes in Net OPEB Liability
and Related Ratios
Texas Municipal Retirement System
Last Measurement Year
79
Measurement
Year 2017
Total OPEB liability:
Service cost 21,820$
Interest 16,399
Changes of benefit terms -
Difference between expected and actual
experience -
Change in assumptions 41,681
Benefit payments, including refunds of
employee contributions (3,851)
Net changes 76,049
Net OPEB liability - beginning 424,847
Net OPEB liability - ending 500,896$
Covered payroll 12,835,255$
Net OPEB liability as a percentage
of covered payroll 3.90%
Note: Only one year of data is presented in accordance with GASB #75. “The information for all period
for the 10-year schedules that are required to be presented as required supplementary information may
be available initially. In these cases, during the transition period, that information should be presented for
as many periods as are available. The schedules should not include information that is not measured in
accordance with the requirements of this statement. Additional years’ information will be displayed as it
becomes available.”
City of Colleyville, Texas
Notes to Texas Municipal Retirement System- Net OPEB Liability
Required Supplementary Information
For the Fiscal Year Ended September 30, 2018
80
Inflation 2.50%
Salary Increases 3.50% to 10.5% including inflation
Discount Rate 3.31%
Retirees' share of benefit-related cost $0
Administrative expenses
Mortality rates - service retirees
Mortality rates - disabled retirees
All administrative expenses are paid through the
Pension Trust and accounted for under reporting
requirements under GASB Statement No. 68.
RP2000 Combined Mortality Table with Blue Collar
Adjustment with male rates multiplied by 109% and
female rates multiplied by 103% and projected on
a fully generational basis with scale BB.
PR2000 Combined Mortality Table with Blue Collar
Adjustment with male rates multiplied by 109% and
female rates multiplied by 103% with a 3 year set-
forward for both males and females. The rates are
projected on a fully generational basis with scale
BB to account for future mortality improvements
subject to the 3% floor.
81
Combining and Individual Fund
Financial Statements and Schedules
82
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City of Colleyville, Texas Exhibit B-1
Debt Service Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2018
83
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 693,367$ 693,367$ 830,318$ 136,951$
Intergovernmental 654,200 654,200 654,200 -
Interest 5,000 5,000 566 (4,434)
Total revenues 1,352,567 1,352,567 1,485,084 132,517
EXPENDITURES
Principal retirement 1,978,162 1,978,162 1,776,206 201,956
Interest and fiscal charges 1,250 1,250 205,943 (204,693)
Total expenditures 1,979,412 1,979,412 1,982,149 (2,737)
Deficiency of revenues
under expenditures (626,845) (626,845) (497,065) 129,780
OTHER FINANCING SOURCES (USES)
Transfers from other funds 501,845 501,845 501,845 -
Total other financing sources (uses)501,845 501,845 501,845 -
Net change in fund balance (125,000) (125,000) 4,780 129,780
FUND BALANCE, beginning of year 693,195 693,195 693,195 -
FUND BALANCE, end of year 568,195$ 568,195$ 697,975$ 129,780$
Budgeted Amounts
84
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85
Non-Major 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.
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.
Crime District — This fund is used to account for the Colleyville Crime Control and Prevention District
formed to act on behalf of the City for financing the development of crime control throughout the City.
Kidsville Maintenance — This fund is used to account for contributions received for the maintenance of
Kidsville Playground.
Special Donations — This fund is used to account for various donations made to the City for specific
projects.
Court Technology — This fund is used to account for the collection and use of fines collected to be
specifically used on technology for the court.
Court Security — This fund is used to account for the collection and use of fines collected to be
specifically used for court security purposes.
86
Grant Fund — This fund is used to account for grant related activity.
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.
Hotel Tax Fund — This fund is used to account for all hotel occupancy tax revenues which are restricted
by state statute and can only be used on expenditures related to tourism activities.
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 — This 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.
Vehicle/Equipment Replacement — This fund is used to account for the replacement of vehicle and other
capital equipment.
87
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City of Colleyville, Texas
Non-Major Governmental Funds
Combining Balance Sheet
September 30, 2018
88
Voluntary Police Asset Tree Library
Voluntary Park Library Forfeiture Preservation Donation
Cash and cash equivalents 362,815$ 98,859$ 23,292$ 316,668$ 137,002$
Investments 744,198 356,861 - - -
Due from other governments - - - - -
Accrued interest 3,211 1,540 - - -
TOTAL ASSETS 1,110,224$ 457,260$ 23,292$ 316,668$ 137,002$
LIABILITIES
Accounts payable -$ -$ -$ -$ -$
Accrued liabilities - - - - -
Due to other funds - - - - -
TOTAL LIABILITIES - - - - -
FUND BALANCES
Restricted - - 23,292 - 137,002
Committed 1,110,224 457,260 - 316,668 -
Assigned - - - - -
TOTAL FUND BALANCES 1,110,224 457,260 23,292 316,668 137,002
TOTAL LIABILITIES AND FUND BALANCES 1,110,224$ 457,260$ 23,292$ 316,668$ 137,002$
LIABILITIES AND FUND BALANCES
ASSETS
Special Revenue
Exhibit B-2
89
Recreational Kidsville Special
Event LEOSE Crime District Maintenance Donations
14,153$ 1,554$ 377,225$ 5,813$ 58,082$
- - 785,088 - -
- - 286,437 - 45
- - - - -
14,153$ 1,554$ 1,448,750$ 5,813$ 58,127$
-$ -$ 2,463$ -$ -$
- - 14,271 - -
- - - - -
- - 16,734 - -
- 1,554 1,432,016 5,813 58,127
- - - - -
14,153 - - - -
14,153 1,554 1,432,016 5,813 58,127
14,153$ 1,554$ 1,448,750$ 5,813$ 58,127$
Special Revenue
City of Colleyville, Texas
Non-Major Governmental Fund
Combining Balance Sheet
September 30, 2018
90
Court Court Juvenile Case
Technology Security Grant Fund Public Art Manager Hotel Fund
ASSETS
Cash and cash equivalents -$ 45,276$ -$ 7,904$ 13,147$ 307,143$
Investments - - - - - -
Accounts receivable 5,645 3,333 4,803 - 8,436 56,470
Accrued interest - - - - - -
TOTAL ASSETS 5,645$ 48,609$ 4,803$ 7,904$ 21,583$ 363,613$
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable -$ -$ -$ -$ 3$ -$
Accrued liabilities - 135 - - 932 -
Due to other funds - - 4,803 - - -
TOTAL LIABILITIES - 135 4,803 - 935 -
FUND BALANCES
Restricted 5,645 48,474 - - 20,648 363,613
Committed - - - - - -
Assigned - - - 7,904 - -
TOTAL FUND BALANCES 5,645 48,474 - 7,904 20,648 363,613
TOTAL LIABILITIES AND FUND BALANCES 5,645$ 48,609$ 4,803$ 7,904$ 21,583$ 363,613$
Special Revenue
Exhibit B-2
91
Total
Vehicle/Non-Major
Colleyville Parks Park Land CEDC Capital Equipment Governmental
Tomorrow Tomorrow Dedication Project Replacement Funds
707,393$ 2,331$ 126,570$ -$ 977,071$ 3,582,298$
1,747,312 1,048,359 1,315,715 - 446,019 6,443,552
- - - - - 365,169
107 - 5,676 - 1,560 12,094
2,454,812$ 1,050,690$ 1,447,961$ -$ 1,424,650$ 10,403,113$
-$ -$ -$ -$ 982$ 3,448$
- - - - - 15,338
- - - - - 4,803
- - - - 982 23,589
- - - - - 2,096,184
2,454,812 1,050,690 1,447,961 - - 6,837,615
- - - - 1,423,668 1,445,725
2,454,812 1,050,690 1,447,961 - 1,423,668 10,379,524
2,454,812$ 1,050,690$ 1,447,961$ -$ 1,424,650$ 10,403,113$
Capital Projects
City of Colleyville, Texas
Non-Major Governmental Funds
Combining Statement of Revenues, Expenditures
and Changes In Fund Balances
For the Fiscal Year Ended September 30, 2018
92
Voluntary Police Asset Tree Library
Voluntary Park Library Forfeiture Preservation Donation
REVENUES
Taxes -$ -$ -$ -$ -$
Fines and forfeitures - - - 19,250 -
Intergovernmental 47,573 - - - 5,696
Grants/contributions 181,504 181,504 - - 20,286
Investment earnings 4,767 1,215 - - -
Miscellaneous - - 14,557 - -
Total revenues 233,844 182,719 14,557 19,250 25,982
EXPENDITURES
Current:
General government - - - 14,278 -
Fire and rescue - - - - -
Leisure services - 154,486 - - 26,275
Municipal court - - - - -
Police services - - 342 - -
Capital outlay - - - - -
Total expenditures - 154,486 342 14,278 26,275
Excess (deficiency) of revenues over
expenditures 233,844 28,233 14,215 4,972 (293)
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - - - -
Transfers from other funds - - - - -
Transfers to other funds - - - - -
Total other financing sources (uses)- - - - -
NET CHANGE IN FUND BALANCES 233,844 28,233 14,215 4,972 (293)
FUND BALANCES, BEGINNING OF YEAR 876,380 429,027 9,077 311,696 137,295
FUND BALANCES, END OF YEAR 1,110,224$ 457,260$ 23,292$ 316,668$ 137,002$
Special Revenue
Exhibit B-3
93
Recreational Kidsville Special
Event LEOSE Crime District Maintenance Donations
-$ -$ 1,732,409$ -$ -$
20 - - - -
- 3,977 - - -
11,507 - - - 24,731
- - 13,428 - -
4,888 - - - -
16,415 3,977 1,745,837 - 24,731
- - - - -
- 2,961 - - 16,392
12,963 - - 2,595 7,254
- - - - -
- 2,859 924,679 - 4,544
- - 444,502 - -
12,963 5,820 1,369,181 2,595 28,190
3,452 (1,843) 376,656 (2,595) (3,459)
- - 16,255 - -
- - - - -
- - (511,845) - -
- - (495,590) - -
3,452 (1,843) (118,934) (2,595) (3,459)
10,701 3,397 1,550,950 8,408 61,586
14,153$ 1,554$ 1,432,016$ 5,813$ 58,127$
Special Revenue
City of Colleyville, Texas
Non-Major Governmental Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
For the Fiscal Year Ended September 30, 2018
94
Court Court Public Juvenile Case Hotel
Technology Security Grant Fund Art Manager Fund
REVENUES
Taxes -$ -$ -$ -$ -$ 241,659$
Fines and forfeitures 19,620 14,693 - - 58,138 -
Intergovernmental 22,580 6,414 - - - -
Grants/contributions - - 56,000 - - -
Investment earnings - - - - - -
Miscellaneous - - - - - -
Total revenues 42,200 21,107 56,000 - 58,138 241,659
EXPENDITURES
Current:
General government - - - - - -
Fire and rescue - - 9,813 - - -
Leisure services - - - - - 24,318
Municipal court 111,733 32,567 - - 61,231 -
Police services - - 46,187 - - -
Capital outlay - - - - - -
Total expenditures 111,733 32,567 56,000 - 61,231 24,318
Excess (deficiency) of revenues over
expenditures (69,533) (11,460) - - (3,093) 217,341
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - - - - -
Transfers from other funds - - - - - -
Transfers to other funds - - (8,133) - - -
Total other financing sources (uses)- - (8,133) - - -
NET CHANGE IN FUND BALANCES (69,533) (11,460) (8,133) - (3,093) 217,341
FUND BALANCES, BEGINNING OF YEAR 75,178 59,934 8,133 7,904 23,741 146,272
FUND BALANCES, END OF YEAR 5,645$ 48,474$ -$ 7,904$ 20,648$ 363,613$
Special Revenue
Exhibit B-3
95
Total
Vehicle/Non-Major
Colleyville Parks Park Land CEDC Capital Equipment Governmental
Tomorrow Tomorrow Dedication Project Replacement Funds
-$ -$ -$ -$ -$ 1,974,068$
- - - - - 111,721
- - - - - 86,240
- - - - - 475,532
31,658 17,053 12,000 - 3,139 83,260
- - 9,732 - - 29,177
31,658 17,053 21,732 - 3,139 2,759,998
- - - - 155,267 169,545
- - - - - 29,166
- - - - - 227,891
- - - - - 205,531
- - - - - 978,611
- - - - 49,367 493,869
- - - - 204,634 2,104,613
31,658 17,053 21,732 - (201,495) 655,385
- - - - - 16,255
63,318 - - - 524,706 588,024
- - - (65,794) - (585,772)
63,318 - - (65,794) 524,706 18,507
94,976 17,053 21,732 (65,794) 323,211 673,892
2,359,836 1,033,637 1,426,229 65,794 1,100,457 9,705,632
2,454,812$ 1,050,690$ 1,447,961$ -$ 1,423,668$ 10,379,524$
Capital Projects
City of Colleyville, Texas Exhibit B-4
Crime District Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2018
96
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Ad valorem taxes 1,700,000$ 1,700,000$ 1,732,409$ 32,409$
Interest 1,500 1,500 13,428 11,928
Total revenues 1,701,500 1,701,500 1,745,837 44,337
EXPENDITURES
Police services 1,433,560 1,433,560 1,369,181 64,379
Total expenditures 1,433,560 1,433,560 1,369,181 64,379
Excess of revenues
over expenditures 267,940 267,940 376,656 108,716
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property - - 16,255 16,255
Transfers to other funds (511,845) (511,845) (511,845) -
Total other financing sources (uses)(511,845) (511,845) (495,590) 16,255
Net change in fund balance (243,905) (243,905) (118,934) 124,971
FUND BALANCE, beginning of year 1,550,950 1,550,950 1,550,950 -
FUND BALANCE, end of year 1,307,045$ 1,307,045$ 1,432,016$ 124,971$
Budgeted Amounts
97
Agency Funds
The Agency Funds are used to account for resources held for others in a custodial capacity. The City
maintains the following Agency Fund:
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.
City of Colleyville, Texas Exhibit C-1
Employee Activity Fund and Sesquicentennial Fund
Statement of Changes in Assets and Liabilities
For the Fiscal Year Ended September 30, 2018
98
Employee
Activity Sesquicentennial
Fund Fund Total
Cash and cash equivalents 3,963$ 21,034$ 24,997$
TOTAL ASSETS 3,963$ 21,034$ 24,997$
Due to other agencies and individuals 3,963$ 21,034$ 24,997$
TOTAL LIABILITIES 3,963$ 21,034$ 24,997$
ASSETS
LIABILITIES
City of Colleyville, Texas Exhibit C-2
Employee Activity Fund and Sesquicentennial Fund
Combing Statement of Changes in Assets and Liabilities
For the Fiscal Year Ended September 30, 2018
99
Balance Balance
10/1/2017 Additions Deletions 9/30/2018
ASSETS
Cash and cash equivalents 4,700$ 3,568$ (4,305)$ 3,963$
TOTAL ASSETS 4,700$ 3,568$ (4,305)$ 3,963$
LIABILITIES
Due to other agencies and individuals 4,700$ 3,568$ (4,305)$ 3,963$
TOTAL LIABILITIES 4,700$ 3,568$ (4,305)$ 3,963$
Balance Balance
10/1/2017 Additions Deletions 9/30/2018
ASSETS
Cash and cash equivalents 20,546$ 528$ (40)$ 21,034$
TOTAL ASSETS 20,546$ 528$ (40)$ 21,034$
LIABILITIES
Due to other agencies and individuals 20,546$ 528$ (40)$ 21,034$
TOTAL LIABILITIES 20,546$ 528$ (40)$ 21,034$
Balance Balance
10/1/2017 Additions Deletions 9/30/2018
ASSETS
Cash and cash equivalents 25,246$ 4,096$ (4,345)$ 24,997$
TOTAL ASSETS 25,246$ 4,096$ (4,345)$ 24,997$
LIABILITIES
Due to other agencies and individuals 25,246$ 4,096$ (4,345)$ 24,997$
TOTAL LIABILITIES 25,246$ 4,096$ (4,345)$ 24,997$
Employee Activity Fund
Sesquicentennial Fund
Total Agency Funds
100
This Page Intentionally Left Blank
101
Statistical Section
102
This Page Intentionally Left Blank
103
Statistical Section
This part of the City of Colleyville comprehensive annual financial report present 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 heal th.
Contents:
Financial Trends Information ..................................................................................................................................... 104
These schedules contain trend information intended to help the re ader understand how the City's
financial position has changed over time.
Revenue Capacity Information ............................................................................................................................... 110
These schedules contain information intended to help the reader assess the City's most significant revenue
source, property taxes.
Debt Capacity Information....................................................................................................................................... 115
These schedules contain information intended to assist users in understanding and assessing the City's
current levels of outstanding debt and the ability to issue additional debt.
Demographic and Economic Information ............................................................................................................ 120
These schedules provide demographic and economic indicators intended to help the readers
understand the socioeconomic environment within which the City's financial activities take place.
Operating Information ............................................................................................................................................... 123
These schedules provide contextual information about the City's operations and resources intended to
assist readers in using financial statement information to understand and assess the City's economic
condition.
City of Colleyville, Texas
Net Position by Component
Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Unaudited)
104
2009 2010 2011 2012 2013 2014
Governmental activities
Net investment in capital assets 79,243,497$ 81,970,674$ 83,166,142$ 83,211,988$ 84,414,252$ 89,754,051$
Restricted for:
Debt service 1,040,896 1,057,699 1,106,893 1,159,092 857,143 831,073
Court Security and technology - - 153,420 91,637 101,411 109,766
Grant programs - - 23,208 21,116 16,489 9,190
Leisure services - - 201,184 207,736 207,770 224,064
Economic development - - 1,863,900 1,998,845 2,277,373 2,733,995
Police - - 994,913 1,143,454 1,223,271 1,403,502
Unrestricted 27,498,864 25,936,703 24,265,699 27,752,287 27,113,566 30,119,775
Total governmental activities net position 107,783,257$ 108,965,076$ 111,775,359$ 115,586,155$ 116,211,275$ 125,185,416$
Business-type activities
Net investment in capital assets 39,174,562$ 39,080,043$ 38,892,098$ 38,395,708$ 39,269,943$ 41,567,161$
Restricted for:
Debt service 987,181 983,225 662,050 - - -
Unrestricted 8,127,736 7,747,336 10,111,776 12,332,238 13,702,724 14,827,594
Total business-type activities net position 48,289,479$ 47,810,604$ 49,665,924$ 50,727,946$ 52,972,667$ 56,394,755$
Primary government
Net investment in capital assets 118,418,059$ 121,050,717$ 122,058,240$ 121,607,696$ 123,684,195$ 131,321,212$
Restricted for:
Debt service 2,028,077 2,040,924 1,768,943 1,159,092 857,143 831,073
Court Security and technology - - 153,420 91,637 101,411 109,766
Grant programs - - 23,208 21,116 16,489 9,190
Leisure services - - 201,184 207,736 207,770 224,064
Economic development - - 1,863,900 1,998,845 2,277,373 2,733,995
Streets and drainage - - - - - -
Police - - 994,913 1,143,454 1,223,271 1,403,502
Unrestricted 35,626,600 33,684,039 34,377,475 40,084,525 40,816,290 44,947,369
Total primary governmental net position 156,072,736$ 156,775,680$ 161,441,283$ 166,314,101$ 169,183,942$ 181,580,171$
Source: Comprehensive Annual Financial Report
Fiscal Year
Table 1
105
2015 2016 2017 2018
98,958,693$ 97,982,160$ 99,881,334$ 100,382,597$
744,295 692,093 612,641 1,936,893
154,901 215,142 158,853 74,767
9,844 10,751 11,530 1,554
233,472 233,290 353,561 564,555
2,975,894 3,456,897 4,221,531 4,471,253
1,485,735 1,485,771 1,560,027 1,455,308
34,519,503 36,767,262 35,773,373 35,878,519
139,082,337$ 140,843,366$ 142,572,850$ 144,765,446$
44,823,618$ 44,010,618$ 44,123,735$ 43,560,389$
- - - -
15,260,882 17,263,830 19,185,890 22,400,538
60,084,500$ 61,274,448$ 63,309,625$ 65,960,927$
143,782,311$ 141,992,778$ 144,005,069$ 143,942,986$
744,295 692,093 612,641 1,936,893
154,901 215,142 158,853 74,767
9,844 10,751 11,530 1,554
233,472 233,290 353,561 564,555
2,975,894 3,456,897 4,221,531 4,471,253
- - - -
1,485,735 1,485,771 1,560,027 1,455,308
49,780,385 54,031,092 54,959,263 58,279,057
199,166,837$ 202,117,814$ 205,882,475$ 210,726,373$
Fiscal Year
City of Colleyville, Texas
Changes in Net Position, Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Unaudited)
106
2009 2010 2011 2012 2013 2014
Expenses
Governmental activities:
General government 2,945,481$ 2,691,905$ 2,715,154$ 3,125,214$ 4,075,001$ 4,103,928$
Community development and engineering 1,530,901 1,645,221 1,402,669 1,397,839 1,429,755 1,613,311
Fire 4,113,793 4,419,945 4,421,496 4,321,929 4,529,225 4,625,036
Leisure services 3,941,259 4,118,769 4,191,960 4,124,619 4,106,822 3,776,068
Maintenance 455,752 423,783 412,513 400,306 494,545 575,696
Municipal court 291,724 302,756 303,839 319,445 586,709 501,604
Police 4,841,217 4,836,274 4,878,055 4,579,570 4,961,444 5,019,343
Streets and drainage 3,503,519 3,885,185 3,657,591 3,073,530 5,322,510 4,128,365
Interest on long-term debt 1,051,180 1,000,061 849,390 780,029 724,458 717,045
Total governmental activities expenses 22,674,826 23,323,899 22,832,667 22,122,481 26,230,469 25,060,396
Business-type activities:
Water and sewer 10,612,372 11,242,553 12,009,187 12,258,587 12,544,530 13,238,893
Drainage 658,016 572,234 742,160 723,994 707,647 571,886
Interest on long-term debt 331,361 296,288 - - - -
Total business-type activities expenses 11,601,749 12,111,075 12,751,347 12,982,581 13,252,177 13,810,779
Total primary government expenses 34,276,575$ 35,434,974$ 35,584,014$ 35,105,062$ 39,482,646$ 38,871,175$
Program revenues
Governmental activities:
Charges for Services:
General government 15,000$ 15,000$ 97,234$ 28,408$ 15,000$ 15,000$
Community development 666,914 647,298 868,363 1,146,518 927,690 1,387,329
Fire and rescue 271,216 235,225 305,882 335,308 308,339 377,021
Leisure services 6,595,487 468,426 1,213,167 520,433 501,260 510,991
Municipal court 1,002,008 1,213,178 970,143 1,015,804 1,271,095 1,268,447
Police 51,631 94,059 70,709 81,056 70,513 71,022
Streets and drainage 215,619 345,780 296,350 338,845 316,338 347,565
Operating grants and contributions 713,189 543,516 822,056 490,069 468,361 486,689
Capital grants and contributions 360,023 423,873 405,347 381,308 1,158,050 5,943,465
Total governmental activities program revenues 9,891,087 3,986,355 5,049,251 4,337,749 5,036,646 10,407,529
Business-type activities:
Charges for services:
Water and sewer 11,303,868 11,414,425 14,355,418 14,034,600 14,661,491 14,789,641
Drainage 874,637 897,361 903,089 918,323 928,863 939,868
Capital grants and contributions 63,293 147,014 168,365 169,464 876,660 2,707,835
Total business-type activities program revenues 12,241,798 12,458,800 15,426,872 15,122,387 16,467,014 18,437,344
Total primary government program revenues 22,132,885$ 16,445,155$ 20,476,123$ 19,460,136$ 21,503,660$ 28,844,873$
Net (expenses) revenue
Governmental activities (12,783,739)$ (19,337,544)$ (17,783,416)$ (17,784,732)$ (21,193,823)$ (14,652,867)$
Business-type activities 640,049 347,725 2,675,525 2,139,806 3,214,837 4,626,565
Total primary government net expenses (12,143,690)$ (18,989,819)$ (15,107,891)$ (15,644,926)$ (17,978,986)$ (10,026,302)$
General revenues and other changes in net position
Governmental activities:
Taxes:
Property taxes 12,121,420$ 12,557,716$ 12,414,948$ 12,414,457$ 12,497,692$ 12,950,832$
Franchise taxes 2,017,440 1,867,065 2,031,268 2,207,463 2,074,731 2,172,801
Sales taxes 4,718,976 4,936,484 5,056,597 5,495,730 5,902,557 6,472,195
Other 74,198 75,365 80,731 65,808 68,592 98,160
Interest on investments 471,524 76,968 95,822 108,192 77,269 39,697
Gain (Loss) on sale of capital assets 25,237 65,306 - 147,969 - 810,020
Transfers 823,797 857,622 858,879 1,081,868 1,112,540 1,180,292
Miscellaneous 77,854 82,833 55,454 74,041 85,562 61,643
Total governmental activities 20,330,446 20,519,359 20,593,699 21,595,528 21,818,943 23,785,640
Business-type activities:
Interest on investments 168,940 15,158 38,674 4,084 38,987 23,655
Gain (Loss) on sale of capital assets - 15,864 - - 103,437 40,814
Transfers (823,797) (857,622) (858,879) (1,081,868) (1,112,540) (1,180,292)
Miscellaneous - - - - - -
Total business-type activities (654,857) (826,600) (820,205) (1,077,784) (970,116) (1,115,823)
Total primary government 19,675,589$ 19,692,759$ 19,773,494$ 20,517,744$ 20,848,827$ 22,669,817$
Change in net position
Governmental activities 7,546,707$ 1,181,815$ 2,810,283$ 3,810,796$ 625,120$ 9,132,773$
Business-type activities (14,808) (478,875) 1,855,320 1,062,022 2,244,721 3,510,742
Total primary government 7,531,899$ 702,940$ 4,665,603$ 4,872,818$ 2,869,841$ 12,643,515$
Source: Comprehensive Annual Financial Report
Fiscal Year
Table 2
107
2015 2016 2017 2018
4,676,185$ 4,449,317$ 4,881,741$ 5,330,690$
1,582,461 1,558,750 1,672,823 1,387,909
5,264,026 4,783,421 5,524,975 5,690,454
4,042,252 4,701,443 4,987,965 4,271,760
684,301 689,861 1,243,614 738,834
522,422 448,420 606,269 595,879
5,681,698 5,734,116 6,093,309 6,634,046
4,404,701 5,150,390 3,578,365 4,009,383
536,161 614,159 408,268 334,839
27,394,207 28,129,877 28,997,329 28,993,794
14,055,232 13,995,038 14,779,262 15,257,125
833,599 563,268 646,145 740,994
- - - -
14,888,831 14,558,306 15,425,407 15,998,119
42,283,038$ 42,688,183$ 44,422,736$ 44,991,913$
17,500$ 15,075$ 338,857$ 35,684$
1,587,038 1,356,581 1,148,293 1,447,081
327,264 387,705 340,630 378,019
503,098 505,203 553,633 563,228
1,474,485 1,306,924 1,181,280 1,110,960
75,415 93,566 98,859 101,662
802,551 794,169 634,918 758,952
450,559 514,845 507,616 614,794
7,712,266 319,541 1,302,174 406,094
12,950,176 5,293,609 6,106,260 5,416,474
15,800,163 15,499,159 15,956,329 17,332,891
948,565 954,642 985,636 1,001,180
2,362,261 43,104 481,413 277,639
19,110,989 16,496,905 17,423,378 18,611,710
32,061,165$ 21,790,514$ 23,529,638$ 24,028,184$
(14,444,031)$ (22,836,268)$ (22,891,069)$ (23,577,320)$
4,222,158 1,938,599 1,997,971 2,613,591
(10,221,873)$ (20,897,669)$ (20,893,098)$ (20,963,729)$
13,493,621$ 13,790,347$ 14,548,461$ 15,471,246$
2,319,723 2,206,890
7,304,507 7,578,861 6,705,914 7,252,963
2,105,881 1,982,578
107,977 106,607 263,587 351,715
100,843 142,343 148,933 315,611
- 51,849 17,000 51,620
1,178,590 895,668 63,319 260,238
82,873 150,630 168,865 126,859
23,989,541 24,597,297 24,620,553 26,138,728
52,480 76,014 100,525 167,427
5,062 71,003 - -
(1,178,590) (895,668) (63,319) (260,238)
- - - 183,685
(1,121,048) (748,651) 37,206 90,874
22,868,493$ 23,848,646$ 24,657,759$ 26,229,602$
9,545,510$ 1,761,029$ 1,729,484$ 2,561,408$
3,101,110 1,189,948 2,035,177 2,704,465
12,646,620$ 2,950,977$ 3,764,661$ 5,265,873$
Fiscal Year
City of Colleyville, Texas Table 3
Fund Balances, Governmental Funds
(Modified Accrual Basis of Accounting)
Last Ten Fiscal Years
(Unaudited)
108
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General fund
Nonspendable -$ -$ 2,147$ 132,664$ 1,759$ 1,269$ 2,119$ 9,388$ 11,152$ 3,788$
Committed - - 706,942 813,536 813,536 813,536 813,536 796,438 682,156 659,712
Unassigned 8,207,420 8,813,597 10,223,232 11,762,625 11,006,716 10,080,617 8,736,746 8,719,620 8,866,760 8,991,999
Total general fund 8,207,420$ 8,813,597$ 10,932,321$ 12,708,825$ 11,822,011$ 10,895,422$ 9,552,401$ 9,525,446$ 9,560,068$ 9,655,499$
All other governmental funds
Non-spendable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Restricted 1,121,567 1,154,570 4,425,532 4,702,200 4,757,937 5,383,007 5,689,356 6,162,352 6,998,697 7,265,412
Committed - - 12,395,726 14,385,628 14,695,028 18,982,072 20,988,217 22,372,620 22,853,666 23,874,535
Assigned - - 1,148,548 954,818 910,611 765,908 812,939 996,929 1,119,062 1,445,725
Unassigned - - - - (4,975) - - - - -
Unassigned, reported in:
Special revenue funds 7,267,350 5,664,493 - - - - - - - -
Capital projects funds 12,369,631 11,524,206 - - - - - - - -
Total all other governmental funds 20,758,548$ 18,343,269$ 17,969,806$ 20,042,646$ 20,358,601$ 25,130,987$ 27,490,512$ 29,531,901$ 30,971,425$ 32,585,672$
Source: Comprehensive Annual Financial Report
Notes: Includes encumbrances and prepaid items.
The City implemented GASB 54 in 2011
Fiscal Year
City of Colleyville, Texas Table 4
Changes In Fund Balances, Governmental Funds
(Modified Accrual Basis of Accounting)
Last Ten Fiscal Years
(Unaudited)
109
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
REVENUES
Taxes 18,889,480$ 19,353,358$ 19,627,734$ 20,235,012$ 20,541,466$ 21,747,244$ 22,620,506$ 23,367,715$ 24,159,016$ 25,615,191$
Licenses, permits and fees 646,302 607,132 923,590 1,130,426 857,135 1,090,012 1,303,710 1,337,928 1,049,673 1,237,198
Capital improvement fees 208,622 334,075 281,260 322,498 300,900 333,496 785,992 766,398 612,134 744,465
Charges for services 1,028,425 1,244,146 998,221 1,051,899 1,000,954 1,043,821 1,217,654 1,023,202 1,218,194 1,601,117
Fines and forfeitures 7,129,322 917,884 1,694,993 1,030,439 1,321,927 1,577,564 1,571,510 1,398,579 1,485,658 858,709
Interest 471,524 76,968 95,823 110,550 77,269 39,697 100,842 142,330 148,909 315,611
Intergovernmental 350,468 100,807 541,709 124,056 76,506 556,954 1,377,763 224,367 668,469 950,817
Grants/Contributions 401,432 379,853 602,401 406,789 487,066 918,613 981,282 421,497 449,130 328,598
Miscellaneous 155,100 97,833 70,453 89,041 100,562 76,643 97,873 165,642 183,889 127,626
Total revenues 29,280,675 23,112,056 24,836,184 24,500,710 24,763,785 27,384,044 30,057,132 28,847,658 29,975,072 31,779,332
EXPENDITURES
General government 2,639,218 2,423,869 2,383,276 2,753,457 3,171,582 3,746,619 4,126,132 4,036,395 4,166,735 4,784,205
Community development 1,531,785 1,642,047 1,397,256 1,396,259 1,429,574 1,606,589 1,524,342 1,623,972 1,511,400 1,349,824
Fire 3,840,118 3,955,407 3,972,053 3,888,225 4,062,535 4,174,745 4,618,103 4,568,639 4,870,759 4,942,939
Police 4,588,576 4,552,947 4,596,862 4,304,710 4,670,639 4,707,315 5,143,662 5,393,431 3,295,197 5,754,470
Leisure services 3,058,332 3,173,352 3,177,878 3,049,908 3,035,583 2,702,313 2,996,371 3,588,611 727,986 3,282,853
Streets and drainage 1,917,536 2,297,719 2,052,298 1,388,970 3,597,965 2,055,631 2,407,780 3,148,848 543,129 1,798,352
Municipal court 291,893 302,172 302,666 319,084 586,911 501,027 508,566 461,393 5,498,406 595,879
Maintenance 449,806 417,946 405,911 394,830 489,685 570,011 662,480 690,007 1,515,283 701,424
Capital outlay 2,759,774 4,935,053 2,510,027 2,515,115 2,668,074 3,250,508 6,268,273 2,373,025 4,421,734 4,950,202
Debt service
Principal retirement 2,275,553 2,180,061 2,259,004 2,007,585 2,246,921 1,342,586 1,459,693 1,467,094 2,151,212 2,201,206
Interest and fiscal charges 1,033,148 944,751 838,320 757,594 697,140 716,228 524,414 563,660 420,477 375,647
Total expenditures 24,385,739 26,825,324 23,895,551 22,775,737 26,656,609 25,373,572 30,239,816 27,915,075 29,122,318 30,737,001
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 4,894,936 (3,713,268) 940,633 1,724,973 (1,892,824) 2,010,472 (182,684) 932,583 852,754 1,042,331
OTHER FINANCING SOURCES (USES)
Bonds issued - - 2,945,000 - - - - - - -
Refunding bonds - - - - - 7,330,000 - 6,225,000 - -
Capital lease - 981,238 - 894,534 209,425 - - - 541,073 356,459
Sale of capital assets 33,759 65,306 7,098 147,969 - 925,033 20,598 95,796 17,000 50,651
Premium on bond issue - - 6,561 - - - - 239,163 - -
Payments to escrow - - (3,012,910) - - (7,600,000) - (6,373,776) - -
Transfers in 2,338,776 1,884,896 2,458,396 3,893,584 4,189,380 7,355,334 6,497,252 5,665,493 4,552,668 5,160,716
Transfers out (1,514,979) (1,027,274) (1,599,517) (2,811,716) (3,076,840) (6,175,042) (5,318,662) (4,769,825) (4,489,349) (4,900,478)
Total other financing sources (uses)857,556 1,904,166 804,628 2,124,371 1,321,965 1,835,325 1,199,188 1,081,851 621,392 667,348
NET CHANGE IN FUND BALANCES 5,752,492$ (1,809,102)$ 1,745,261$ 3,849,344$ (570,859)$ 3,845,797$ 1,016,504$ 2,014,434$ 1,474,146$ 1,709,679$
Debt service as a percentage of
noncapital expenditures 15.3%14.3%14.5%13.6%12.3%9.3%8.3%8.0%10.4%17.1%
Fiscal Year Fiscal Year
City of Colleyville, Texas Table 5
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
(Unaudited)
110
Fiscal Year
Real
Property
Personal
Property
Less: Tax-Exempt
Property
Total Taxable
Assessed Value
Total Direct Tax
Rate
2009 3,748,968,313$ 99,556,111$ 230,676,995$ 3,617,847,429$ 0.35590
2010 3,907,288,105 95,261,420 237,293,931 3,765,255,594 0.35590
2011 3,917,415,346 92,176,541 253,414,335 3,756,177,552 0.35590
2012 3,941,020,477 89,758,416 277,077,387 3,753,701,506 0.35590
2013 3,997,250,723 91,264,033 296,807,896 3,791,706,860 0.35590
2014 4,129,613,419 93,604,217 307,729,550 3,915,488,086 0.35590
2015 4,314,297,434 102,095,151 313,245,782 4,103,146,803 0.35590
2016 4,332,288,268 106,282,459 301,657,610 4,136,913,117 0.35590
2017 4,712,035,716 113,056,889 323,256,895 4,501,835,710 0.33910
2018 5,154,444,185 113,416,769 392,199,511 4,875,661,443 0.33383
Source: Tarrant Appraisal District
Note:
Estimated Market Value
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.
City of Colleyville, Texas Table 6
Direct and Overlapping Property Tax Rates (Per $100 of Assessed Value)
Last Ten Fiscal Years
(Unaudited)
111
Fiscal Year
Operating/
General Rate
General
Obligation
Debt Service Total Direct
Birdville
Independent
School
District
Carroll
Independent
School
District
Grapevine-
Colleyville
Independent
School
District
Hurst-Euless
Bedford
Independent
School
District
Keller
Independent
School
District
Tarrant
County
Tarrant
County
College
District
Tarrant
County
Hospital
District
2009 0.28860 0.06731 0.35591 1.41000 1.415000 1.290000 1.295500 1.416900 0.264000 0.13796 0.227897
2010 0.29864 0.05726 0.35590 1.40500 1.415000 1.290000 1.295500 1.486300 0.264000 0.13767 0.227897
2011 0.29758 0.05832 0.35590 1.42500 1.415000 1.290000 1.288200 1.530600 0.264000 0.13764 0.227897
2012 0.30881 0.04709 0.35590 1.43500 1.415100 1.320100 1.414000 1.540000 0.264000 0.14897 0.227897
2013 0.31385 0.04205 0.35590 1.43500 1.400000 1.320100 1.407500 1.540000 0.264000 0.14897 0.227897
2014 0.32442 0.03148 0.35590 1.43500 1.400000 1.320100 1.387500 1.540000 0.264000 0.14950 0.227897
2015 0.33461 0.02129 0.35590 1.43500 1.400000 1.320100 1.375000 1.540000 0.264000 0.14950 0.227897
2016 0.33624 0.01966 0.35590 1.45390 1.395000 1.320100 1.350000 1.540000 0.264000 0.14950 0.227897
2017 0.32191 0.01722 0.33913 1.45390 1.390000 1.396700 1.316000 1.520000 0.254000 0.14473 0.227897
2018 0.31600 0.01783 0.33383 1.45390 1.385000 1.396700 1.263000 1.520000 0.244000 0.14006 0.224429
Source: Tarrant Appraisal District
Notes:
City Direct Rates Overlapping Rates
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.
City of Colleyville, Texas Table 7
Principal Property Tax Payers
Current Year and Five Years Ago
(Unaudited)
112
Percentage of Percentage of
Taxable Assessed Total City Taxable Taxable Assessed Total City Taxable
Taxpayer Value Assessed Value a Taxpayer Value Assessed Value b
1 KRG Colleyville LLC 33,883,995$ 0.69%Melvin & Martindale LTD 23,800,000$ 0.63%
2 Velocis Colleyville LP 33,603,245 0.69%Toll Dallas TX LLC 18,694,881 0.49%
3 Toll Dallas TX LLC 20,154,400 0.41%Oncor Electric Delivery Co LLC 15,915,723 0.42%
4 Oncor Electric Delivery Co LLC 16,036,630 0.33%LTF Real Estate Company Inc 12,304,570 0.32%
5 LTF Real Estate MP I LLC 13,685,000 0.28%RCC Village Properties LLC 8,831,175 0.23%
6 Standard Pacific of Texas Inc 12,032,695 0.25%AC Village Park Partners LLC 7,124,273 0.19%
7 Welltower Inc 10,965,235 0.22%Colleyville Riverwalk LP 6,054,975 0.16%
8 Colleyville Lofts Venture LLC 9,502,079 0.19%Hudson, Leonard 4,830,200 0.13%
9 Mainvue TX LLC 7,689,461 0.16%Wilson, Donald 4,250,700 0.11%
10 Atmos Energy/Mid Tex Division 7,046,620 0.14%Wal-Mart Real Estate Bus Trust 4,200,000 0.11%
Total 164,599,360$ 3.38%Total 106,006,497$ 2,80%
Total assessed valuation 4,875,661,443 100.00%Total assessed valuation 3,791,706,860 100.00%
Source: Tarrant Appraisal District
a Taxpayers are assessed on January 1, 2017 (2017 tax year) for the 2018 fiscal year.
b Taxpayers are assessed on January 1, 2012 (2012 tax year) for the 2013 fiscal year.
20132018
City of Colleyville, Texas Table 8
Property Tax Levies and Collections
Last Ten Fiscal Years
(Unaudited)
113
Fiscal Year
Taxes Levied for
the Fiscal Year Amount
Percentage of
Levy
Collections in
Subsequent
Years Amount
Percentage of
Levy
2009 12,875,919$ 12,734,871$ 98.90%130,351$ 12,865,222$ 99.92%
2010 13,351,922 13,166,515 98.61%176,914 13,343,429 99.94%
2011 13,183,932 13,063,575 99.09%111,584 13,175,159 99.93%
2012 13,163,735 13,082,029 99.38%76,773 13,158,802 99.96%
2013 13,291,462 13,207,902 99.37%77,723 13,285,625 99.96%
2014 13,722,602 13,681,269 99.70%33,256 13,714,525 99.94%
2015 14,305,704 14,242,584 99.56%49,525 14,292,109 99.90%
2016 14,675,127 14,612,632 99.57%33,200 14,645,832 99.80%
2017 15,508,345 15,423,832 99.46%31,394 15,455,226 99.66%
2018 16,651,773 16,590,832 99.63%- 16,590,832 99.63%
Source: Tarrant County Tax Office
Total Collections
Collected within the Fiscal Year
of the Levy
City of Colleyville, Texas Table 9
Principal Water Customers
Current Year and Nine Years Ago
(Unaudited)
114
Percentage Percentage
of Total City of Total City
Water Water Water Water
Taxpayer Usage Usage Usage Usage
City of Colleyville 44,882,900 1.76% 57,689,200 1.91%
School District 34,165,600 1.34% 45,447,700 2.07%
Fitness Facility 14,339,000 0.56% 10,758,700 0.49%
Shopping Center 12,415,200 0.49% 8,934,000 0.41%
Cemetary 6,695,900 0.26% 5,063,700 0.23%
Health Care Facility 6,231,900 0.24% - -%
Irrigation Meters 6,164,700 0.24% - -%
Home builder 5,838,400 0.23% - -%
HOA 5,262,700 0.21% 4,023,300 0.18%
Shopping Center 4,789,100 0.19% 5,063,700 0.23%
Total 140,785,400 5.52% 136,980,300 5.52%
Notes: City chose not to include the exact names to protect the customers confidentiality.
Source: City utility billing records
2018 2009
City of Colleyville, Texas Table 10
Ratio of Outstanding Debt by Type
Last Ten Fiscal Years
(Unaudited)
115
General Sales Tax Water and Drainage Total Percentage
Fiscal Obligation Revenue Capital Sewer Revenue Revenue Capital Primary of Personal
Year Bonds Bonds Leases Premium Bonds Bonds Leases Premium Government Income a Per Capita a
2009 14,665,000$ 9,170,000$ 359,996$ -$ 5,200,000$ 1,870,000$ -$ -$ 31,264,996$ 18827.19%1,386$
2010 13,300,000 8,545,000 1,151,173 - 4,520,000 1,695,000 - - 29,211,173 17590.42%1,281
2011 11,510,000 8,245,000 972,170 5,905 3,600,000 1,550,000 - 99,756 25,982,831 13045.69%1,137
2012 9,975,000 7,930,000 1,709,120 5,249 2,850,000 1,345,000 - 89,780 23,904,149 12002.00%1,042
2013 8,675,000 7,600,000 1,301,624 4,593 2,085,000 1,135,000 - 79,805 20,881,022 10484.12%904
2014 7,660,000 7,330,000 974,038 - 1,310,000 915,000 - 69,830 18,258,868 9092.07%769
2015 6,920,000 6,935,000 649,345 - 850,000 690,000 - 59,854 16,104,199 8019.14%676
2016 8,550,000 6,525,000 362,251 239,163 505,000 585,000 - 49,878 16,816,292 8373.73%696
2017 7,125,000 6,105,000 597,110 238,957 155,000 475,000 - 24,939 14,721,006 7096.58%598
2018 5,665,000 5,680,000 637,365 235,299 - 365,000 - - 12,582,664 6065.75%503
Note: Details regarding the City's outstanding debt can be found in the notes to the
financial statements.
a See Table 14 for personal income and population data.
Governmental Activities Business-Type Activities
City of Colleyville, Texas Table 11
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
(Unaudited)
116
Percentage of
General Less: Available Actual Taxable
Fiscal Obligation Debt Service Value of
Year Bonds Funds Total Property a Per Capita b
2009 14,665,000$ 1,040,896$ 13,624,104$ 0.38%604$
2010 13,300,000 1,057,699 12,242,301 0.33%537
2011 11,510,000 1,106,893 10,403,107 0.28%455
2012 9,933,921 1,159,092 8,774,829 0.23%382
2013 8,639,056 857,143 7,781,913 0.21%337
2014 7,660,000 831,073 6,828,927 0.17%288
2015 6,920,000 744,295 6,175,705 0.15%259
2016 8,550,000 692,093 7,857,907 0.19%324
2017 7,363,957 612,641 6,751,316 0.15%274
2018 5,665,000 1,936,893 3,728,107 0.08%236
Note: Details regarding the city's outstanding debt can be found in the notes to the
financial statements.
a See Table 5 for property value data.
b See Table 14 for population data.
General Bonded Debt Outstanding
City of Colleyville, Texas Table 12
Direct and Overlapping Governmental Activities Debt
As of September 30, 2018
(Unaudited)
117
Gross Bonded
Debt
Percentage of
Debt Applicable
to Area
Share of
Overlapping
Debt
Debt repaid with property taxes
Birdville Independent School District 253,562,467$ 0.07%177,494$
Carroll Independent School District 254,924,999 0.37%943,222
Grapevine-Colleyville Independent School District 415,917,406 22.76%94,662,802
Hurst-Euless-Bedford Independent School District 299,715,000 1.58%4,735,497
Keller Independent School District 680,508,707 3.50%23,817,805
Tarrant County 294,500,000 2.96%8,717,200
Tarrant County Hospital District 19,300,000 2.96%571,280
Subtotal, overlapping debt 133,625,300
City of Colleyville (direct debt)12,217,664 100.00%12,217,664
Total direct and overlapping debt 145,842,964$
Source: Debt outstanding data provided by each school district and county.
Percentage of debt provided by the Municipal Advisory Council of Texas.
Governmental Unit
City of Colleyville, Texas
Pledged-Revenue Coverage
Last Ten Fiscal Years
(Unaudited)
118
Fiscal Total Less: Operating Net Available Annual Times
Year Revenues a Expenses b Revenue Requirement c Coverage
2009 11,458,282$ 8,943,803$ 2,514,479$ 881,223$ 2.85
2010 11,427,074 9,458,355 1,968,719 893,358 2.20
2011 14,391,910 10,120,678 4,271,232 977,819 4.37
2012 13,986,067 10,395,517 3,590,550 827,947 4.34
2013 14,802,351 10,707,017 4,095,334 823,430 4.97
2014 14,852,535 11,331,749 3,520,786 819,137 4.30
2015 15,856,242 12,043,267 3,812,975 490,100 7.78
2016 15,638,670 11,965,525 3,673,145 365,325 10.05
2017 16,045,635 12,673,136 3,372,499 359,900 9.37
2018 17,648,886 13,468,257 4,180,629 157,325 26.57
a Includes operating and non-operating revenues.
b Includes operating expenses minus depreciation plus transfers out.
c Includes principal and interest.
Water and Sewer System Revenue Bonds
Table 13
119
Fiscal Total Less: Operating Net Available Annual Times Sales Tax Annual Times
Year Revenues a Expenses b Revenue Requirement c Coverage Increment Requirement c Coverage
2009 889,163$ 500,677$ 388,486$ 260,138$ 1.49 1,264,385$ 643,195$ 1.97
2010 915,734 484,712 431,022 257,930 1.67 1,317,161 646,290 2.04
2011 905,271 551,049 354,222 211,142 1.68 1,319,517 644,195 2.05
2012 908,387 531,705 376,682 256,244 1.47 1,426,909 646,588 2.21
2013 930,427 541,598 388,829 251,733 1.54 1,534,635 648,365 2.37
2014 941,416 416,957 524,459 255,398 2.05 1,673,351 138,390 12.09
2015 959,833 700,939 258,894 252,847 1.02 1,725,809 600,416 2.87
2016 966,687 414,619 552,068 127,121 4.34 1,864,084 603,824 3.09
2017 996,855 493,796 503,059 128,391 3.92 1,872,563 601,872 3.11
2018 1,036,297 599,534 436,763 124,574 3.51 1,947,710 594,704 3.28
Drainage Revenue Bonds Sales Tax Bonds
City of Colleyville, Texas Table 14
Demographic and Economic Statistics
Last Ten Calendar Years
(Unaudited)
120
Per Capital
Fiscal Estimated Personal Personal School Unemployment
Year Population a Income Income Enrollment b Rate c
2009 22,550 166,063$ 55,170$ 13,691 8.2%
2010 22,807 166,063 55,354 13,657 7.9%
2011 22,860 199,168 65,516 13,514 8.3%
2012 22,950 199,168 65,516 13,378 6.2%
2013 23,090 199,168 65,516 13,513 6.0%
2014 23,740 200,822 66,060 13,751 5.0%
2015 23,830 200,822 66,060 13,824 4.0%
2016 24,230 200,822 66,060 13,830 4.1%
2017 24,630 207,438 68,236 13,972 3.4%
2018 25,010 207,438 66,301 13,882 2.8%
a North Central Texas Council of Governments
b Grapevine-Colleyville Independent School District
d Texas Workforce Commission
City of Colleyville, Texas Table 15
Principal Employers
Current Year and Nine Years Ago
(Unaudited)
121
Employer Employees
Percentage of
Total City
Employment Employer Employees
Percentage of
Total City
Employment
Grapevine Colleyville ISD 611 5.90%Grapevine Colleyville ISD 681 6.68%
Market Street 345 3.33%Market Street 369 3.62%
Lifetime Fitness 250 2.41%Lifetime Fitness 230 2.26%
City of Colleyville 206 1.99%City of Colleyville 188 1.84%
Covenant Christian Academy 130 1.26%Albertsons 110 1.08%
Whole Foods Market 125 1.21%Covenant Christian Academy 107 1.05%
Albertsons 118 1.14%LaHacienda Ranch 100 0.98%
LaHacienda Ranch 100 0.97%Walmart Neighborhood Market 90 0.88%
Walmart Neighborhood Market 72 0.70%Sonshine Academy 60 0.59%
US Memory Care 60 0.58%US Memory Care 60 0.59%
Total 2,017 19.49%Total 1,995 19.57%
Total Colleyville Daytime Employees 10,358 Total Colleyville Daytime Employees 10,198
Source: City of Colleyville Economic Development
2018 2009
City of Colleyville, Texas Table 16
Full-Time Equivalent City Government Employees by Function/Program
Last Ten Fiscal Years
(Unaudited)
122
Function/Program 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General government
Management services 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.75 5.00 4.20
Finance/court 6.00 6.00 6.00 6.00 8.00 8.00 8.00 8.00 9.00 9.00
Planning 3.00 2.00 2.00 2.00 2.00 4.00 3.00 4.00 4.00 4.00
Building 6.00 5.00 4.00 3.00 3.00 3.50 5.00 5.00 5.00 5.00
Other 7.50 9.50 11.00 11.00 13.00 11.63 13.52 14.14 12.14 12.80
Police
Officers 38.00 38.00 38.00 39.00 40.00 41.00 42.50 43.00 43.00 41.00
Civilians 14.00 13.00 6.00 6.00 6.00 6.50 7.00 6.50 6.00 8.00
Fire
Firefighters and officers 33.00 33.00 33.00 35.00 36.00 38.00 41.00 41.00 41.00 40.00
Civilians 1.00 2.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.50
Other public works
Engineering 5.00 4.00 4.50 3.00 3.00 4.05 3.95 4.75 2.75 2.75
Other 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Streets 10.00 10.00 10.00 10.00 7.00 8.35 8.35 8.35 8.35 8.35
Parks and recreation 13.50 16.50 16.00 16.00 16.00 15.75 15.00 15.00 17.00 17.00
Library 8.00 9.50 11.50 11.50 12.00 13.00 13.63 13.00 13.00 13.00
Colleyville Center 4.50 4.50 4.50 4.50 3.50 4.00 4.50 4.50 4.00 4.00
Water/wastewater 29.00 28.00 24.00 24.50 23.00 24.68 25.03 24.23 25.60 24.70
Drainage 6.00 6.00 6.00 6.00 7.00 6.00 6.00 6.41 6.41 6.20
Total 191.50 194.00 184.50 185.50 187.50 196.45 204.48 205.63 206.25 204.50
Source: City budget
Fiscal Year
City of Colleyville, Texas Table 17
Operating Indicators by Function/Program
Last Ten Fiscal Years
(Unaudited)
123
Function/Program 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General government
Building permits issued 90 77 104 155 103 108 181 182 136 169
Building inspections conducted 5,641 6,149 6,737 8,310 8,292 7,807 7,307 8,940 10,666 11,981
Police
Physical arrests 809 764 666 653 632 863 800 918 602 715
Calls for service 23,480 12,242 27,254 48,076 61,270 58,522 51,537 43,492 34,437 33,765
Traffic violations 12,550 13,822 11,354 11,980 11,766 19,955 21,450 20,790 13,016 15,832
Fire
Emergency responses 737 762 830 724 557 627 694 1,783 1,768 1,758
Ambulance calls 693 751 765 803 829 950 959 1,037 967 1,000
Inspections 796 784 397 342 306 317 363 400 361 239
Other public works
Street resurfacing (miles)13.9 8.0 6.2 1.0 4.0 1.7 3.7 10.9 6.8 6.0
Parks and recreation
Athletic field participants 4,617 4,296 4,378 3,946 4,287 4,315 4,434 4,302 4,517 4,386
Community center rentals 507 373 410 404 398 412 452 376 405 314
Library
Volumes in collection 54,659 58,147 62,997 65,740 69,736 74,525 77,664 80,452 82,182 71,188
Total volumes borrowed 238,459 244,458 235,238 244,613 250,737 234,667 228,160 222,128 227,252 237,124
Water
Customers 8,960 9,014 9,103 9,285 9,396 9,507 9,631 9,858 9,987 10,215
Average daily consumption
(thousands of gallons)6,578 5,990 7,928 7,217 6,785 6,539 6,451 5,889 6,355 6,508
Peak daily consumption
(thousands of gallons)16,674 18,207 18,935 18,707 17,052 15,204 19,866 15,724 12,434 15,830
Wastewater
Customers 8,315 8,389 8,457 8,603 8,731 8,817 8,905 9,071 9,270 9,444
Source: City departments
Fiscal Year
City of Colleyville, Texas Table 18
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
(Unaudited)
124
Function/Program 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Police
Stations 1 1 1 1 1 1 1 1 1 1
Patrol unites 13 13 13 12 12 12 13 13 13 13
Fire
Stations 3 3 3 3 3 3 3 3 3 3
Public works
Streets (miles)312 318 282 282 282 283 283 283 289 289
Streetlights 1,168 1,188 1,169 1,169 1,175 1,175 1,227 1,269 1,269 1,338
Traffic signals 2 2 2 2 2 2 2 2 2 2
Parks and recreation
Acreage 224 224 224 224 224 224 224 225 225 225
Playgrounds 6 6 6 6 6 6 6 7 7 7
Baseball/softball diamond 9 9 9 9 9 9 9 9 9 9
Soccer fields 14 14 14 14 14 14 14 14 14 14
Community center 1 1 1 1 1 1 1 1 1 1
Water
Water mains (miles)199 200 195 201 202 204 205 206 206 206
Fire hydrants 1,340 1,345 1,362 1,389 1,389 1,403 1,422 1,507 1,517 1,521
Storage capacity 9,900 9,900 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500
(thousands of gallons)
Wastewater
Sanitary sewer (miles 166 170 162 169 170 172 172 179 180 180
Storm sewers (miles)63 63 58 64 58 60 67 69 70 70
Source: City departments
a Baseball, softball, soccer and multipurpose fields combined through 2014
Fiscal Year