HomeMy WebLinkAboutFY19 Comprehensive Annual Financial ReportCOLLEYVILLE, TEXAS
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
FISCAL YEAR ENDED SEPTEMBER 30, 2019
City of Colleyville, Texas
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30, 2019
Prepared by
Finance Department
Kyle Lester
Director of Finance
Karen Hines
Accounting Manager
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City of Colleyville, Texas
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30, 2019
Table of Contents
i
Exhibit Page
Introductory Section
Letter of Transmittal v
Certificate of Achievement x
Organizational Chart xi
Principal Officials xii
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 329
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 74
Budgetary Comparison Schedule - Colleyville Economic Development Fund A-2 75
Notes to Budgetary Comparison Schedules 77
Schedule of Changes in Net Pension Liability and Related Ratios - TMRS A-3 78
Schedule of Contributions - TMRS A-4 79
Notes to Texas Municipal Retirement System
Required Supplementary Information 80
Schedule of Changes in Net OPEB Liability and Related Ratios - TMRS A-5 81
Notes to Texas Municipal Retirement System- OPEB Liability 82
City of Colleyville, Texas
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30, 2019
Table of Contents – Continued
ii
Exhibit Page
Combining And Individual Fund Financial Statements And Schedules
Budgetary Comparison Schedule - Debt Service Fund B-1 85
Non-Major Governmental Funds 87
Combining Balance Sheet B-2 90
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances B-3 94
Budgetary Comparison Schedule - Crime District Fund B-4 98
Agency Funds:
Statement of Changes in Assets and Liabilities C-1 100
Combining Statement of Changes in Assets and Liabilities C-2 101
Statistical Section
Net Position By Component 1106
Changes in Net Position 2108
Fund Balances - Governmental Funds 3 110
Changes in Fund Balances - Governmental Funds 4 111
Assessed Value and Estimated Actual Value of Taxable Property 5 112
Direct and Overlapping Property Tax Rates 6 113
Principal Property Tax Payers 7 114
Property Tax Levies and Collections 8 115
Principal Water Customers 9116
Ratios of Outstanding Debt by Type 10 117
Ratio of General Bonded Debt Outstanding 11 118
Direct and Overlapping Governmental Activities Debt 12 119
Pledged Revenue Coverage 13 120
Demographic and Economic Statistics 14 122
Principal Employers 15 123
Full-Time Equivalent City Government Employees By Function/Program 16 124
Operating Indicators By Function/Program 17 125
Capital Asset Statistics By Function/Program 18 126
iii
Introductory Section
iv
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v
February 18, 2020
To the Citizens of the City of Colleyville:
The Comprehensive Annual Financial Report of the City of Colleyville (the "City") for the fiscal year ended
September 30, 2019, is hereby submitted. Responsibility for both the accuracy of the data, and completeness and
fairness of the presentation, including all disclosures, rests with the City. To the best of our knowledge and belief,
the enclosed data are accurate in all material respects and are reported in a manner designed to present fairly the
financial position, results of operations and cash flows of the various funds of the City. All disclosures necessary
to enable the reader to gain an understanding of the City's financial activities have been included.
In developing and evaluating the City's accounting system, consideration is given to the adequacy of internal
accounting controls. These controls are designed to provide reasonable, but not absolute, assurance regarding the
safeguarding of assets against loss from unauthorized use or disposition, and the reliability of financial records
for preparing financial statements and maintaining accountability for assets. The concept of reasonable assurance
recognizes that the cost of a control should not exceed the benefits likely to be derived, and the evaluation of costs
and benefits requires estimates and judgments by management. We believe that the City's current system of
internal controls adequately safeguards assets and provides reasonable assurance of proper recording of financial
transactions.
As required by the City’s charter, the financial statements have been audited by 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, 2019, are free of material
misstatement. The independent audit involved examining on a test basis, evidence supporting the amounts and
disclosures in the financial statements; assessing the accounting principles used and significant estimates made
by management; and evaluating the overall financial statement presentation. The independent auditor concluded,
based upon the audit, that there was a reasonable basis for rendering an unmodified opinion that the City of
Colleyville’s financial statements for fiscal year ended September 30, 2019, 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.
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.
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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 directors upon confirmation by the
City Council. 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. Per the City Charter, no one person can serve as a council member
or mayor for more than two consecutive three year terms.
The City provides a full range of municipal services. These services include police and fire protection, municipal
court, streets, drainage utility, leisure services (parks and recreation, Colleyville Center and library), water and
sewer, engineering/community development, and general administrative services. Based upon the criterion set
forth in generally accepted accounting principles, the following organizations are includable within the City's
reporting entity:
Entity Method of Inclusion
Colleyville Economic Development Corporation (CEDC) Blended
Colleyville Crime Control and Prevention District Blended
Colleyville Tax Investment Financing Reinvestment Zone
Zone Number One (TIF) Discretely Presented
The City Charter of the City of Colleyville establishes the fiscal year as October 1 through September 30. The
Charter requires the City Manager to submit a proposed budget and accompanying budget message to the City
Council each year and the proposed budget is presented to the City Council at a budget work session. After public
hearings at two consecutive regular City Council meetings, the Council may adopt the proposed budget, with or
without amendment. The budget ordinance is to be adopted no later than the 30th day of September and requires
an affirmative vote of a majority of the Council. The City maintains budgetary control by adopting an annual
operating budget for the General Fund, Debt Service Fund, Drainage Utility Fund, and Water and Sewer
Enterprise Fund. Detail control is maintained at the line item level by encumbering available funds at the time a
purchase order is written. Encumbrances lapse at fiscal year-end, but can be re-appropriated through a budget
amendment during the following fiscal year. The City Manager is authorized to transfer budgeted amounts
between departments within any fund. However, any revisions that alter the total expenditures of any fund must
be approved by the City Council.
LOCAL ECONOMY
The City of Colleyville is a residential-oriented community located 11 miles northeast of the City of Fort Worth,
22 miles northwest of Dallas and 5 miles west of Dallas/Fort Worth International Airport in Northeast Tarrant
County. During the fiscal year, the City issued 111 residential building permits and the average appraised value
of a residential property was $521,831. The City also issued 86 certificates of occupancy for new, remodeled,
and expanding businesses.
In fiscal year 2019, commercial developments continued to bring new tenants and sales tax dollars to Colleyville
including:
Burger IM
Muggle Shakes
Benny’s Café
Brazos Running Company
Townhouse Brunch
Mother Clucker
Simply Eyes
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Dominos
Montclair Event Venue
Uptown Cheapskate
My Lan Kitchen
Chef Point
In addition to these new businesses and tenants, Colleyville expects to see the following developments in the near
future:
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
A new Chick-fil-A has been approved at the intersection of SH26 and Pleasant Run, with the restaurant
expected to open in Fall 2020
The Enterprise rental car store has chosen to increase their investment in Colleyville, moving from their
tenant space in Colleyville Downs to a brand new building to be constructed at SH26 and Old Glade Road
The “stonehouse” building at State Highway 26 and Thompson Terrace is in the process of being
transformed into the Stonehouse Restaurant, offering high quality food in a warm and inviting atmosphere
The Wachovia Bank building will be subleased and transformed into the Colleyville Business Center,
which will include a new home for the Colleyville Chamber of Commerce
Infrastructure projects completed in fiscal year 2019 include Pleasant Run Road improvements from Shelton Road
to John McCain Road, Glade Road right-of-way acquisition, SH26 water line relocation, and key
water/wastewater line repairs. Over 21 lane miles were resurfaced in 2019, including:
Acuff Lane
Bettinger Drive
Bell Simmons Lane
Felps Drive
Frontier Court
Glade Road
Holly Lane
Hix Court
Patterson Lane
Van Oaks Drive
Bransford Road
Cheek-Sparger Road
White Drive
McDonwell School Road
Projects in progress at the end of fiscal year 2019 are the McDonwell & Westcoat roundabout, Roberts Road
rehab and LD Locket Turn Lane (both of which are in the design phase).
For the Future. Future infrastructure and street rehabilitation projects scheduled include sidewalk/trail
construction (grant-funded), Bransford Road Trail (from Field Street to Cotton Belt Trail) design, Pleasant Run
Road rehab and waterline construction, LD Locket turn lane construction, Pleasant Run waterline vault
construction, Glade Road waterline construction (phase 2 – State Highway 26 to Pool), and various other drainage
and waterline improvements throughout the City.
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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, reviewed annually by the City Council, and the Fund Balance
Policy, reviewed every three years by the Audit Committee, provide further detail and guidance. Decisions are
also made in accordance with any existing bond covenants or state law.
Long Term Financial Planning
In Fiscal Year 2005, the City Council adopted a Fund Balance Policy requiring a 90 day reserve for fund balance
in both the General Fund and the Utility Fund. 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. At the
end of Fiscal Year 2019, both the General Fund and the Utility Fund have a fund balance in excess of the required
90 day reserve. Amounts in excess of the reserve may 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.
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.
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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 comprehensive
annual financial report for the fiscal year ended September 30, 2018. This was the 30th consecutive year that the
City has received this prestigious award. In order to be awarded a Certificate of Achievement, a government must
publish an easily readable and efficiently organized comprehensive annual financial report. This report must
satisfy both generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive
annual financial report continues to meet the Certificate of Achievement Program's requirements and we are
submitting it to GFOA to determine its eligibility for another certificate.
In addition, the City also received the GFOA’s Distinguished Budget Presentation award for its annual budget
dated October 1, 2019. 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,
Kyle Lester, CGFO
Finance Director
Karen Hines
Accounting Manager
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CITY OF COLLEYVILLLE, TEXAS
HOME RULE, COUNCIL – MANAGER
FORM OF GOVERNMENT
CITY OFFICIALS
YEAR ENDED SEPTEMBER 30, 2019
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
Kyle Lester
Director of Finance
Karen Hines
Accounting Manager
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
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, the 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, 2019, 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
The City’s 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, the discretely
presented component unit, each major fund, and the aggregate remaining fund information of the City,
as of September 30, 2019, and the respective changes in financial position, and, where applicable, cash
flows thereof for the year then ended in accordance 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 14 to the financial statements, beginning net position was restated to correct an
error in the reporting revenues in previous years. 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 74 through 75), and TMRS pension and OPEB schedules (pages 78 through 82) be presented to
supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management’s responses to our inquiries,
the basic financial statements, and other knowledge we obtained during our audit of the basic financial
statements. We do not express an opinion or provide any assurance on the information because the
limited procedures do not provide us with sufficient evidence to express an opinion or provide any
assurance.
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 with 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 whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in
the audit of the basic financial statements and, accordingly, we do not express an opinion or provide
any assurance on them.
The Members of the City Council and Manager of
City of Colleyville, Texas
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Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
February 12, 2020, 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
performed 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
February 12, 2020
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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, 2019.
We encourage readers to consider the information presented here in conjunction with additional
information that we have furnished in our letter of transmittal, which can be found on pages v – x of this
report
Financial Highlights
The assets of the City of Colleyville exceeded its liabilities as of September 30, 2019, by $211,651,659
(net position). Of this amount, $60,222,891 (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 $750,486 from FY 2019 operations.
As of the close of the current fiscal year, the City of Colleyville’s governmental funds reported
combined ending fund balances of $43,751,124. Of this amount, $9,102,499 is unassigned fund
balance available for use within the City’s fund designation and fiscal policies.
As of September 30, 2019, unreserved, unassigned fund balance for the General Fund was
$9,102,499 or 44.00% 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 deferred
inflows/outflows of resources, with the difference between the two reported as net position. Over time,
increases or decreases in net position may serve as a useful indicator of whether the financial position of
the City is improving or deteriorating.
The Statement of Activities presents information showing how the City’s net position changed during the
fiscal year. All changes in net position are reported when the underlying event giving rise to the change
occurs, regardless of the timing of related cash flows.
Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows
in the future fiscal periods (e.g., uncollected taxes and earned but unused compensated absences). Both
of the government-wide financial statements distinguish functions of the City that are principally
supported by taxes and intergovernmental revenues (governmental activities) from functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-type
activities). The governmental activities of the City include General Government, Public Safety, Public
Works, and Cultural and Recreation. The business-type activities of the City include Water and
Wastewater, and Drainage Utility.
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Fund Financial Statements – A fund is a grouping of related accounts that is used to maintain control over
resources that have been segregated for specific activities or objectives. The City, like other state and
local governments, uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements. All 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 fund 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 Fiduciary 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 – 69 of this report.
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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 83 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 $211,651,659 as of September 30, 2019.
The largest portion of the City’s net position ($143,733,599) reflects its investments in capital assets
(e.g., land, building, equipment, improvements, construction in progress and infrastructure), less any
outstanding debt used to acquire those assets. The City uses these capital assets to provide service to
citizens; consequently, these assets are not available for future spending. Although the City’s investment
in its capital assets is reported net of related debt, it should be noted that the resources needed to repay
this debt must be provided from other sources, since the capital assets themselves cannot be used to
liquidate these liabilities.
City of Colleyville’s Net Position
2019 2018 2019 2018 2019 2018
Current and other assets 46,754,575$ 48,868,523$ 26,827,955$ 24,338,315$ 73,582,530$ 73,206,838$
Capital assets, net 111,134,567 112,588,679 42,900,760 43,923,237 154,035,327 156,511,916
Total assets 157,889,142 161,457,202 69,728,715 68,261,552 227,617,857 229,718,754
Deferred outflows of
resources 4,168,228 2,547,481 571,450 342,092 4,739,678 2,889,573
Current liabilities 2,077,934 2,594,456 2,287,107 1,722,655 4,365,041 4,317,111
Long-term liabilities 15,381,846 14,054,032 913,141 543,069 16,294,987 14,597,101
Total liabilities 17,459,780 16,648,488 3,200,248 2,265,724 20,660,028 18,914,212
Deferred inflows of
resources 40,068 2,590,749 5,780 376,993 45,848 2,967,742
Net position
Net Investment in
capital assets 101,081,404 100,382,597 42,652,195 43,560,389 143,733,599 143,942,986
Restricted 7,695,169 8,504,330 - - 7,695,169 8,504,330
Unrestricted 35,780,949 35,878,519 24,441,942 22,400,538 60,222,891 58,279,057
Total net position 144,557,522$ 144,765,446$ 67,094,137$ 65,960,927$ 211,651,659$ 210,726,373$
Activities Activities Primary Government
Governmental Business-type Total
A portion of the City’s net position ($7,695,169) represents resources that are subject to external restriction
on how they may be used. The remaining balance ($60,222,891) 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, 2019, 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. Fiscal year 2019
governmental activities resulted in a $382,724 decrease in net position. That decrease was primarily due
to increased spending on public safety and streets/drainage, mostly associated with the city’s capital
improvement plan. Fiscal year 2019 business-type activities resulted in a $1,133,210 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 2019,
TRA refunded the City more than $450,000 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.
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 relief 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 the
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, 2019. Governmental activities decreased the City of Colleyville’s net position
by $207,924, net of the cumulative effect of change in accounting principle related to the adoption of
GASB 75, Accounting and Financial Reporting for Post-Employment Benefits Other Than Pensions that
increased the beginning net position by $174,800. Business-type activities contributed an increase to the
City’s net position of $1,133,210.
11
City of Colleyville’s Changes in Net Position
2019 2018 2019 2018 2019 2018
Revenues:
Program revenues:
Charges for services 4,106,919$ 4,395,586$ 17,068,448$ 18,334,071$ 21,175,367$ 22,729,657$
Operating grants and
contributions 771,681 614,794 - - 771,681 614,794
Capital grants and
contributions 369,126 406,094 188,749 277,639 557,875 683,733
General revenues:
Property tax 15,676,533 15,471,246 - - 15,676,533 15,471,246
Sales tax 7,584,353 7,578,861 - - 7,584,353 7,578,861
Franchise tax 2,086,683 1,982,578 - - 2,086,683 1,982,578
Other tax 350,411 351,715 - - 350,411 351,715
Investment income 967,396 315,611 455,178 167,427 1,422,574 483,038
Miscellaneous 89,869 126,859 18,706 183,685 108,575 310,544
Gain on sale of
capital assets 14,116 51,620 - - 14,116 51,620
Total revenues 32,017,087 31,294,964 17,731,081 18,962,822 49,748,168 50,257,786
Expenses:
General government 5,791,827 5,330,690 - - 5,791,827 5,330,690
Community development 1,398,052 1,387,909 - - 1,398,052 1,387,909
Fire and rescue 6,192,307 5,690,454 - - 6,192,307 5,690,454
Leisure services 4,710,673 4,271,760 - - 4,710,673 4,271,760
Maintenance 770,762 738,834 - - 770,762 738,834
Municipal court 575,098 595,879 - - 575,098 595,879
Police 6,749,202 6,634,046 - - 6,749,202 6,634,046
Streets and drainage 6,181,453 4,009,383 - 6,181,453 4,009,383
Water and wastewater - - 15,463,642 15,257,125 15,463,642 15,257,125
Drainage - - 863,826 740,994 863,826 740,994
Interest on long-term debt 300,840 334,839 - - 300,840 334,839
Total expenses 32,670,214 28,993,794 16,327,468 15,998,119 48,997,682 44,991,913
Increases (decreases) in
net position before transfers (653,127) 2,301,170 1,403,613 2,964,703 750,486 5,265,873
Transfers 270,403 260,238 (270,403) (260,238) - -
Change in net position (382,724) 2,561,408 1,133,210 2,704,465 750,486 5,265,873
Net position - October 1 144,765,446 142,572,850 65,960,927 63,309,625 210,726,373 205,882,475
Cumulative effect of change in accounting
principle and prior period adjustment 174,800 (368,812) - (53,163) 174,800 (421,975)
Net position - October 1, as restated 144,940,246 142,204,038 65,960,927 63,256,462 210,901,173 205,460,500
Net position - September 30 144,557,522$ 144,765,446$ 67,094,137$ 65,960,927$ 211,651,659$ 210,726,373$
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 2019, the governmental funds’ unassigned fund balance increased by $110,500 due to a
number of factors. The General Fund is the only governmental fund that can have an unassigned fund
balance. The total General Fund revenue was $1,092,554 above budget, including $673,997 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 almost $500,000 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 only $14,000 shy of its budget due
to the city’s continuous efforts to support and market the impacted businesses during construction. During
FY18, 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
commercial corridor. These initiatives were expanded upon in FY19. During this year, Colleyville initiated
several grant programs, each with a different focus. The BEST (Business Enhancements to Support
Transformation) Grant provides matching grant funding to local businesses to assist with beautification of
commercial buildings and properties. This may include work such as façade, parking lot, and landscaping
improvements. The SIGN (Sign Improvements to Get Noticed) Grant provides grant funds of 50% up to
$5,000 for permanent sign improvements. And the SAFER (Support for Adequate Fire & Emergency
Response) Grant provides grant funds of 50% up to $50,000 for costs associated with installing a sprinkler
system for fire suppression in commercial buildings. Each of these programs utilizes the City’s Tax Increment
Financing funds to partner with local business to reinvest in Colleyville and improve quality of life for the
community. To date there have been 14 BEST Grants, 4 SIGN Grants, and 1 SAFER Grant.
Also, in fiscal year 2019, the City Council provided direction to transfer the excess fund balance above
budget to the Capital Projects Fund to fund future capital projects. The fiscal year 2019 excess fund
balance allowed the Council to authorize a transfer of $2,400,000 to the Capital Projects Fund, in addition
to the originally budgeted transfers of $1,500,000, for a total transfer of $3,900,000. This contributed to the
net increase in the Capital Projects Fund balance of $1,213,568. 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 2019 Debt Service Fund balance increased by $146,891, solely due to greater than anticipated
property tax and investment interest revenues. Additionally, the City of Colleyville has been focused on
reducing and eliminating debt, working toward a pay as you go method for large-scale capital
improvements and purchases. To that end, the city has not issued 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 $21,859,675 for the Water and
Wastewater Fund and $2,582,267 for the Drainage Utility Fund. Additionally, fiscal year 2019 activities
resulted in a net position increase of $931,136 in the Water and Sewer fund and $202,074 for the Drainage
fund. Tiered water and wastewater 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 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. Fiscal year 2019 was a wet year, and the revenues
collected reflect this. However, Colleyville’s unique rate structure helps mitigate the financial effects of
major weather changes by ensuring the utility operations are covered through customers’ base rates. The
volumetric portion of the rates solely cover charges from the Trinity River Authority, which are passed
through to customers. So while operating revenues fell short of budget by $1.2 million, this shortage was
on the volumetric side of Colleyville’s rates. This shortage was more than offset by lower fees from the
Trinity River Authority due to the low consumption. As a result, the Water and Wastewater fund ended with
a large budget surplus of over $1.4 million. The Drainage fees, which are set monthly charges and
therefore much more stable, were $64,401 above budget. Additionally, the city’s customer base by
expanded by close to 2% during the year.
13
Governmental activities – There was an increase of $722,123 in governmental activities revenue
compared to fiscal year 2018. Colleyville benefits from a strong residential base which helps mitigate the
negative effects of economic fluctuations. Property values have experienced a 7% growth over the prior
year’s certified values. Despite the tax rate reduction from $0.333834/$100 valuation to $0.3208/$100
valuation, the City’s actual property tax revenue was $205,287 more than last year’s for the General Fund
and the Debt Service Fund, with a current year tax collection rate of 99.8% of the levy. Total sales tax
revenues increased by a modest $5,492 for the General Fund, Colleyville Economic Development
Corporation (CEDC) and the Colleyville Crime Control and Prevention District (CCCPD). However, it
should be noted that this slight increase was solely as a result of the city authorizing the CCCPD to collect
sales taxes on telecommunications services, which was not previously authorized. Sales tax collections for
the General Fund and CEDC did decrease slightly from the previous year. In total, governmental activities
experienced a total of $313,580 increase in tax revenues.
Business-type activities – Colleyville 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 $16,075,726 for
the fiscal year with the aforementioned, consumption-related decrease of about $1.2 million. In fiscal
year 2019, the water consumption decreased by 22% with a steady 2% increase in the customer base.
Also, in December 2018, the volumetric rates went up to pass through the rate increase from the Trinity
River Authority, the city’s provider of treated water. A total of 50.64 inches of rainfall hit DFW in FY19,
compared to the 42.39 inches that came in FY18, resulting in lower charges from the Trinity River Authority
and therefore lower volumetric revenues from Colleyville customers. Net of those pass-through charges,
the utility’s operational costs came in under FY18 by just over $200,000. This is primarily due to the utility’s
remaining revenue bond issue having been paid off in FY18, and therefore no debt costs were incurred
by the fund. Revenues from the Drainage Utility fund were essentially flat, with a small increase in drainage
fees being offset by a decrease in miscellaneous revenues. Expenses were lower than FY18 by $1.7 million
due to a large, one-time transfer that occurred in FY18. Net of this transfer, FY19 spent approximately
$65,000 more than the previous year.
General fund budgetary highlights – With the FY19 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.
Colleyville’s approach to budgeting places emphasis on maintaining business-like efficiency and keeping
as low a tax rate as possible while maintaining or expanding service levels. As such, FY19 was the first year
that the city adopted an effective property tax rate, meaning properties on both the 2017 and 2018 tax
rolls would not pay a higher tax bill to the city over those two years. Any increases in property tax revenue
would come as a result of new development, rather than a higher tax rate. Staff also managed to absorb
a 7% increase in health insurance costs within its existing budget. Maximizing position openings through
attrition helped the city accomplish cost absorption and a low tax rate, as FY19 funded 5.5 fewer full-time
equivalents (FTEs) than FY18. 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.
In FY17, 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 first 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 FY19 budget
continued to reflect the City Council’s bold vision of fully implementing the recommendations of the 2017
Compensation and Classification Study.
14
Refer to the General Fund Statement of Revenue, Expenditures and Changes in Fund Balances – Budget
and Actual on page 74 of this report for a detailed presentation of the actual General Fund operations
compared to both the original and final budget for fiscal year 2019.
Capital Assets
The City of Colleyville’s investment in capital assets for its governmental and business-type activities as of
September 30, 2019 amounts to $154,035,327 (net of accumulated depreciation). This investment in
capital assets includes land, building and 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 over $1.5 million in street improvements, including Glade Road ($450,000), and John
McCain Road ($1,050,000).
Capitalized over $1 million for facility renovations, including the library spatial reconfiguration
($400,000), the renovation of Webb House ($250,000), and Colleyville Center Courtyard ($400,000).
Capitalized $1.8 million in water and over $300,000 in wastewater.
City of Colleyville’s Capital Assets at Year End
2019 2018 2019 2018 2019 2018
Land 9,178,641$ 9,178,641$ 304,839$ 304,839$ 9,483,480$ 9,483,480$
Buildings and improvements 51,374,588 50,400,558 53,922 53,922 51,428,510 50,454,480
Equipment 14,425,752 14,018,330 2,299,310 2,264,969 16,725,062 16,283,299
Infrastructure/water distribution
sewer collection 104,196,498 99,522,267 82,704,453 80,398,064 186,900,951 179,920,331
Construction in progress 1,571,033 4,663,882 281,743 1,522,362 1,852,776 6,186,244
Less: accumulated depreciation (69,611,945) (65,194,999) (42,743,507) (40,620,919) (112,355,452) (105,815,918)
Total capital assets, net 111,134,567$ 112,588,679$ 42,900,760$ 43,923,237$ 154,035,327$ 156,511,916$
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 $10,308,954. Of this amount, $4,155,000 represents bonded debt backed by
the full faith and credit of the government, $5,235,000 represents bonds secured by sales tax revenues,
and $250,000 represents bonds secured solely by drainage utility system revenues. The city paid off the
remaining water and sewer revenue bonds in fiscal year 2018.
The City’s capitalized lease obligations of $443,675 pertain to the prior year lease purchase of a fire
pumper truck and a newly added ambulance lease.
15
Outstanding Debt and Year End
Bonds, Notes and Capitalized Lease Obligations Payable
2019 2018 2019 2018 2019 2018
General obligation bonds and
certificates of obligation 4,155,000$ 5,665,000$ -$ -$ 4,155,000$ 5,665,000$
Sales tax revenue bonds 5,235,000 5,680,000 - - 5,235,000 5,680,000
Revenue bonds payable - 250,000 365,000 250,000 365,000
Capital lease obligations 443,675 637,365 - 443,675 637,365
Bond premiums 225,279 235,299 - - 225,279 235,299
Total long-term debt 10,058,954$ 12,217,664$ 250,000$ 365,000$ 10,308,954$ 12,582,664$
Long-term debt to net
position percentage 7% 8% 0% 1% 5% 6%
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. Additional information on the City of Colleyville’s long-term debt can be found in Note 7 on
pages 57 – 60 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. Certified values increased 7%
in total from 2018 to 2019. However, 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 maintaining 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 2020, the City had a goal of adopting the
effective tax rate, which was achieved by adopting a tax rate of $0.306807/$100 valuation, a $0.013993
reduction from the fiscal year 2019 tax rate of $0.3208/$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 General Fund and CEDC did
experience a slight decline in this revenue stream for FY19, but the loss was minimal and offset by lower
spending. Sales tax has been budgeted conservatively with no growth for FY20 and limited growth in
future years, until reconstruction has been completed. As of the date of this report, the city’s two FY 2020
collections have shown a 7% increase over FY 2019.
16
At the budget work session presentation in August, 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 3.5% in fiscal year 2020,
reflecting potential new growth on top of an effective tax rate, and sales tax was projected with limited
growth as well. The forecast for General Fund expenditures includes general cost increases of
approximately 3% 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 2020 budget provides a staffing level of 205.23 full-time equivalents (FTEs), 5.0 FTEs more
than in fiscal year 2019. Staff accomplished this by relying on the Capital Projects fund and Crime Control
and Prevention District fund to take on their appropriate operating costs, thereby freeing up room in the
General Fund.
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 City’s cost of operating the utility system. Based on the fiscal year 2020 budget,
which includes zero debt payments and a slight increase in the number of customers, water and
wastewater base rates were maintained at their current level, with a higher capital improvement plan
base rate and correspondingly lower operating rate. The CIP base rate is a capital funding component
of the rate structure to ensure adequate cash funding of future utility capital projects.
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 Kyle Lester, Director of Finance, at 100 Main Street, Colleyville, Texas 76034, or call
(817) 503-1014.
17
Basic Financial Statements
18
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19
Government-Wide
Financial Statements
20
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City of Colleyville, Texas Exhibit 1
Statement of Net Position
September 30, 2019
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 10,981,520$ 4,214,127$ 15,195,647$ 3,932,618$
Investments 33,008,396 18,677,291 51,685,687 19,742,566
Receivables (net of allowance for uncollectibles of $278,478)
Accounts 267,347 3,269,761 3,537,108 5,025
Taxes 966,243 - 966,243 -
Loans 780,750 - 780,750 -
Due from other governments 705,399 - 705,399 -
Inventories 1,291 191,478 192,769 -
Restricted assets:
Investments - 473,753 473,753 -
Accrued interest 43,629 1,545 45,174 14,545
Capital assets:
Non-depreciable 10,749,674 586,582 11,336,256 12,391,954
Depreciable (net of depreciation)100,384,893 42,314,178 142,699,071 10,585,236
Total assets 157,889,142 69,728,715 227,617,857 46,671,944
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge for refunding 5,791 1,435 7,226 -
Deferred outflows - TMRS pension and OPEB 4,162,437 570,015 4,732,452 -
Total deferred outflows of resources 4,168,228 571,450 4,739,678 -
LIABILITIES
Accounts payable 1,436,690 1,538,279 2,974,969 877,471
Accrued liabilities 366,666 41,887 408,553 85,118
Accrued interest payable 37,944 1,085 39,029 2,419
Advances from developers 195,373 212,506 407,879 -
Customer deposits 41,261 493,350 534,611 -
Non-current liabilities:
Due within one year 1,971,967 140,654 2,112,621 669,041
Due in more than one year 10,042,908 291,995 10,334,903 -
Net pension liability 2,932,903 417,921 3,350,824 -
OPEB liability 434,068 62,571 496,639 -
Total liabilities 17,459,780 3,200,248 20,660,028 1,634,049
DEFERRED INFLOWS OF RESOURCES
Deferred inflows - TMRS pension 40,068 5,780 45,848 -
Total deferred inflows of resources 40,068 5,780 45,848 -
NET POSITION
Net investment in capital assets 101,081,404 42,652,195 143,733,599 22,977,190
Restricted:
Debt service 1,476,905 - 1,476,905 -
Court security and technology 63,506 - 63,506 -
Grant Programs 74,119 - 74,119 -
Leisure services 612,500 - 612,500 -
Economic development 4,150,118 - 4,150,118 -
Police 1,318,021 - 1,318,021 -
Unrestricted 35,780,949 24,441,942 60,222,891 22,060,705
TOTAL NET POSITION 144,557,522$ 67,094,137$ 211,651,659$ 45,037,895$
Primary Government
City of Colleyville, Texas
Statement of Activities
For the Fiscal Year Ended September 30, 2019
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 5,791,827$ 29,800$ 26,667$ 188,115$
Community development 1,398,052 1,361,965 - -
Fire and rescue 6,192,307 397,646 233,165 -
Leisure services 4,710,673 521,448 402,992 -
Maintenance 770,762 - - -
Municipal court 575,098 1,123,157 - -
Police 6,749,415 93,495 108,857 -
Streets and drainage 6,181,453 579,408 - 181,011
Interest on long-term debt 300,627 - - -
Total governmental activities 32,670,214 4,106,919 771,681 369,126
Business-type activities:
Water and sewer 15,463,642 16,057,020 - 188,749
Drainage 863,826 1,011,428 - -
Total business-type activities 16,327,468 17,068,448 - 188,749
TOTAL PRIMARY GOVERNMENT 48,997,682$ 21,175,367$ 771,681$ 557,875$
COMPONENT UNIT
Tax increment financing 1,521,737$ -$ -$ -$
Total component unit 1,521,737$ -$ -$ -$
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
Prior period adj ustment
NET POSITION, end of year
Functions/Program Activities
Program Revenues
Exhibit 2
23
Governmental Business-type Component
Activities Activities Total Unit
(5,547,245)$ -$ (5,547,245)$ -$
(36,087) - (36,087) -
(5,561,496) - (5,561,496) -
(3,786,233) - (3,786,233) -
(770,762) - (770,762) -
548,059 - 548,059 -
(6,547,063) - (6,547,063) -
(5,421,034) - (5,421,034) -
(300,627) - (300,627) -
(27,422,488) - (27,422,488) -
- 782,127 782,127 -
- 147,602 147,602 -
- 929,729 929,729 -
(27,422,488)$ 929,729$ (26,492,759)$ -$
-$ -$ -$ (1,521,737)$
-$ -$ -$ (1,521,737)$
15,676,533$ -$ 15,676,533$ 6,002,033$
7,584,353 - 7,584,353 -
2,086,683 - 2,086,683 -
350,411 - 350,411 -
967,396 455,178 1,422,574 519,432
14,116 - 14,116 -
89,869 18,706 108,575 -
270,403 (270,403) - -
27,039,764 203,481 27,243,245 6,521,465
(382,724) 1,133,210 750,486 4,999,728
144,765,446 65,960,927 210,726,373 40,038,167
174,800 - 174,800 -
144,557,522$ 67,094,137$ 211,651,659$ 45,037,895$
Net (Expense) Revenue and
Changes in Net Position
Primary Government
24
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25
Fund Financial Statements
26
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27
Governmental Funds
Financial Statements
28
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City of Colleyville, Texas Exhibit 3
Balance Sheet
Governmental Funds
September 30, 2019
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 781,656$ 807,750$ 4,749,982$ 2,369,349$ 2,272,783$ 10,981,520$
Investments 13,945,981 35,787 9,371,193 1,502,375 8,153,060 33,008,396
Receivables, net of allowances for
uncollectibles:
Accounts 101,775 - 12,459 - 153,117 267,351
Taxes 939,931 26,312 - - - 966,243
Loans 135,750 645,000 - - - 780,750
Due from other funds - - 5,000,000 - 100,000 5,100,000
Due from other governments - - - 342,406 362,989 705,395
Accrued interest 21,140 - 8,486 2,823 11,180 43,629
Inventories 1,291 - - - - 1,291
TOTAL ASSETS 15,927,524$ 1,514,849$ 19,142,120$ 4,216,953$ 11,053,129$ 51,854,575$
LIABILITIES
Accounts payable 511,052$ -$ 691,196$ 55,766$ 178,676$ 1,436,690$
Accrued liabilities 274,849 - 52,611 11,069 28,137 366,666
Advances from developers 47,548 - 147,825 - - 195,373
Due to other funds 5,000,000 - - - 100,000 5,100,000
Customer deposits 41,261 - - - - 41,261
Total liabilities 5,874,710 - 891,632 66,835 306,813 7,139,990
DEFERRED INFLOWS OF RESOURCES
Unavailable resources 293,478 669,983 - - - 963,461
TOTAL DEFERRED INFLOWS OF RESOURCES 293,478 669,983 - - - 963,461
FUND BALANCES
Nonspendable for:
Inventories 1,291 - - - - 1,291
Restricted for:
Debt service - 844,866 - - - 844,866
Court security and technology- - - - 63,506 63,506
Grant pro grams - - - - 74,119 74,119
Leisure services - - 612,500 612,500
Economic development - - - 4,150,118 - 4,150,118
Police - - - - 1,318,021 1,318,021
Committed for:
Strategic initiatives 655,546 - - - - 655,546
Leisure services - - - - 2,033,971 2,033,971
Capital projects - - 18,250,488 - 5,136,858 23,387,346
Assigned for:
Capital projects - - - - 1,483,539 1,483,539
Leisure services - - - - 23,802 23,802
Unassi gned 9,102,499 - - - - 9,102,499
Total fund balances 9,759,336 844,866 18,250,488 4,150,118 10,746,316 43,751,124
TOTAL LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES 15,927,524$ 1,514,849$ 19,142,120$ 4,216,953$ 11,053,129$ 51,854,575$
City of Colleyville, Texas Exhibit 4
Reconciliation of the Governmental Funds
Balance Sheet to the Statement of Net Position
As of September 30, 2019
The Notes to the Financial Statements are an integral part of this statement.
30
TOTAL FUND BALANCES - GOVERNMENT FUNDS 43,751,124$
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 111,134,567
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.(37,944)
Revenues earned but not available within sixty days of the year end are not
recognized as revenue on the fund financial statements. 963,461
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.5,791
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. 4,122,369
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.
These noncurrent liabilities are as follows:
Long term debt (9,833,675)
Unamortized bond premium/discount, net (225,279)
Compensated absences (1,955,921)
Other post employment benefits liability (434,068)
Net pension liability (2,932,903)
(15,381,846)
Net position of governmental activities 144,557,522$
City of Colleyville, Texas Exhibit 5
Statement of Revenues, Expenditures, and
Changes in Fund Balances
Governmental Funds
For the Fiscal Year Ended September 30, 2019
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 21,109,864$ 831,406$ -$ 1,943,228$ 2,003,291$ 25,887,789$
Fines and forfeitures 702,909 - - - 103,663 806,572
Licenses, permits and fees 1,141,959 - - - - 1,141,959
Intergovernmental 159,390 653,725 - - 40,890 854,005
Charges for services 1,442,807 - - - - 1,442,807
Capital improvement fees - - 568,533 - - 568,533
Grants/contributions - - - - 667,736 667,736
Investment earnings 376,662 12,162 309,771 44,900 223,901 967,396
Miscellaneous 38,807 - 24,697 - 22,431 85,935
Total revenues 24,972,398 1,497,293 903,001 1,988,128 3,061,912 32,422,732
EXPENDITURES
Current:
General government 3,773,064 - - 76,039 197,356 4,046,459
Community development and engineering 1,366,898 - 2,959 - - 1,369,857
Fire and rescue 5,470,304 - 368 - 21,758 5,492,430
Leisure services 2,518,475 - - 833,603 279,264 3,631,342
Maintenance 741,907 - 2,200 - - 744,107
Municipal court 432,537 - - - 142,561 575,098
Police services 4,780,246 - - - 1,188,863 5,969,109
Streets and drainage 1,537,425 - 2,403,022 - - 3,940,447
Capital outlay 65,152 - 1,188,964 972,245 915,210 3,141,571
Debt service:
Principal retirement - 1,703,690 - 445,000 - 2,148,690
Interest and fiscal charges - 155,812 - 157,176 - 312,988
Total expenditures 20,686,008 1,859,502 3,597,513 2,484,063 2,745,012 31,372,098
Excess (deficiency) of revenues
over (under) expenditures 4,286,390 (362,209) (2,694,512) (495,935) 316,900 1,050,634
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property 14,116 - - - - 14,116
Transfers in 226,117 509,100 3,908,080 - 568,992 5,212,289
Transfers out (4,422,786) - - - (519,100) (4,941,886)
Total other financing sources (uses) (4,182,553) 509,100 3,908,080 - 49,892 284,519
Net change in fund balances 103,837 146,891 1,213,568 (495,935) 366,792 1,335,153
Fund balances, beginning of year, as restated (see note 14) 9,655,499 697,975 17,036,920 4,646,053 10,379,524 42,415,971
FUND BALANCES, END OF YEAR 9,759,336$ 844,866$ 18,250,488$ 4,150,118$ 10,746,316$ 43,751,124$
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, 2019
The Notes to the Financial Statements are an integral part of this statement.
32
TOTAL NET CHANGE IN FUND BALANCES - GOVERNMENTAL FUNDS 1,335,153$
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.3,173,525
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.(4,767,292)
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:
Principal payments 2,148,690$
Amortization of premiums and deferred losses (4,229)
2,144,461
The net change in net pension liability, deferred outflows and deferred inflows is report in the
statement of activities but does not require the use of current financial resources and,
therefore is not reported as an expenditure in the governmental funds.(1,235,256)
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.(557,342)
The net change in OPEB liability, deferred outflows and deferred inflow is reported in the statement
of activities but does not require the use of current financial resources and, therefore is not
reported as expenditures in the governmental funds. (31,522)
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. 16,666
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. 181,011
In the governmental fund financial statements the proceeds from sale of assets are shown as
an increase in financial resources. In the the government-wide financial statements, the (41,356)
gain or loss is calculated and reported.
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.(600,772)
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES (382,724)$
33
Proprietary Funds
Financial Statements
City of Colleyville, Texas Exhibit 7
Statement of Net Position
Proprietary Funds
September 30, 2019
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 3,458,353$ 755,774$ 4,214,127$
Investments 16,835,308 1,841,983 18,677,291
Accounts receivable, net of allowance 3,136,161 133,600 3,269,761
Inventories 191,478 - 191,478
Restricted assets:
Investments 440,573 33,180 473,753
Total current assets 24,061,873 2,764,537 26,826,410
Noncurrent assets:
Accrued interest 84 1,461 1,545
Capital assets:
Land and improvements 304,839 - 304,839
Buildings 53,922 - 53,922
Utility system 78,401,441 4,303,012 82,704,453
Equipment and furniture 1,592,345 706,965 2,299,310
Construction in progress 272,493 9,250 281,743
Less: accumulated depreciation (40,773,941) (1,969,566) (42,743,507)
Total non-current assets 39,851,183 3,051,122 42,902,305
Total assets 63,913,056 5,815,659 69,728,715
DEFERRED OUTFLOW OF RESOURCES
Deferred charge for refunding - 1,435 1,435
Deferred outflows - TMRS pension and OPEB 470,441 99,574 570,015
Total deferred outflows of resources 470,441 101,009 571,450
LIABILITIES
Current liabilities:
Accounts payable 1,506,128 32,151 1,538,279
Accrued liabilities 34,290 7,597 41,887
Accrued interest payable - 1,085 1,085
Advances from developers 95,613 116,893 212,506
Customer deposits 493,350 - 493,350
Compensated absences - 15,654 15,654
Revenue bonds payable - 125,000 125,000
Total current liabilities 2,129,381 298,380 2,427,761
Noncurrent liabilities:
Compensated absences 142,086 24,909 166,995
Revenue bonds payable - 125,000 125,000
Net pension liability 345,000 72,921 417,921
Net OPEB liability 51,499 11,072 62,571
Total non-current liabilities 538,585 233,902 772,487
Total liabilities 2,667,966 532,282 3,200,248
DEFERRED INFLOW OF RESOURCES
Deferred inflows - TMRS pension and OPEB 4,757 1,023 5,780
Total deferred inflows of resources 4,757 1,023 5,780
NET POSITION
Net investment in capital assets 39,851,099 2,801,096 42,652,195
Unrestricted 21,859,675 2,582,267 24,441,942
TOTAL NET POSITION 61,710,774$ 5,383,363$ 67,094,137$
City of Colleyville, Texas Exhibit 8
Statement of Revenues, Expenses
and Changes in Net Position
Proprietary Funds
For the Fiscal Year Ended September 30, 2019
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 10,352,045$ -$ 10,352,045$
Wastewater service charges 4,399,186 - 4,399,186
Drainage service charges - 1,000,521 1,000,521
Other charges and services 1,305,789 10,907 1,316,696
Miscellaneous 18,706 - 18,706
Total operating revenues 16,075,726 1,011,428 17,087,154
OPERATING EXPENSES
Personnel services 2,013,905 490,549 2,504,454
Maintenance and contractual services 11,270,485 137,309 11,407,794
Material and supplies 203,093 78,672 281,765
Depreciation and amortization 1,976,159 147,146 2,123,305
Total operating expenses 15,463,642 853,676 16,317,318
OPERATING INCOME (LOSS)612,084 157,752 769,836
NON-OPERATING REVENUES (EXPENSES)
Interest income 400,706 54,472 455,178
Interest expense - (10,150) (10,150)
Total non-operating revenues (expenses) 400,706 44,322 445,028
Income (loss) before capital contributions and transfers 1,012,790 202,074 1,214,864
CAPITAL CONTRIBUTIONS AND TRANSFERS
Capital contributions 188,749 - 188,749
Transfers out (270,403) - (270,403)
Total capital contributions and transfers (81,654) - (81,654)
Change in net position 931,136 202,074 1,133,210
Net position, beginning of year 60,779,638 5,181,289 65,960,927
NET POSITION, END OF YEAR 61,710,774$ 5,383,363$ 67,094,137$
City of Colleyville, Texas Exhibit 9
Statement of Cash Flows
Proprietary Funds
For the Fiscal Year Ended September 30, 2019
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 15,415,228$ 1,014,545$ 16,429,773$
Cash payments to suppliers for goods and services (10,972,708) (193,436) (11,166,144)
Cash payments to employees for services (1,809,869) (442,080) (2,251,949)
Net cash provided by operating activities 2,632,651 379,029 3,011,680
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES
Transfers out (270,403) - (270,403)
Net cash used in non-capital financing activities (270,403) - (270,403)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (902,111) (9,250) (911,361)
Principal payments on bonds - (115,000) (115,000)
Interest paid of debt - (10,648) (10,648)
Net cash used in capital and related financing activities (902,111) (134,898) (1,037,009)
CASH FLOWS FROM INVESTING ACTIVITIES
(Purchase) sale of investments (5,301,282) (151,350) (5,452,632)
Earnings on investments 414,639 53,867 468,506
Net cash provided by (used in) investing activities (4,886,643) (97,483) (4,984,126)
Net change in cash and cash equivalents (3,426,506) 146,648 (3,279,858)
Cash and cash equivalents, beginning of year 6,884,859 609,126 7,493,985
CASH AND CASH EQUIVALENTS, END OF YEAR 3,458,353$ 755,774$ 4,214,127$
RECONCILIATION OF OPERATING INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
Operating income 612,084$ 157,752$ 769,836$
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation and amortization 1,976,159 147,146 2,123,305
Decrease (increase) in assets and deferred outflows of resources:
Receivables (672,178) 3,117 (669,061)
Inventory (29,854) - (29,854)
Net pension asset 302,419 66,302 368,721
Deferred outflows - TMRS pension and OPEB (185,818) (44,257) (230,075)
Increase (decrease) in liabilities and deferred outflows of resources:
Accounts payable 531,624 20,911 552,535
Accrued liabilities (900) 1,634 734
Compensated absences 48,550 19,137 67,687
Customer deposits 11,680 - 11,680
Net pension liability 345,000 72,921 417,921
Total OPEB liability (441) (95) (536)
Deferred inflows - TMRS pension and OPEB (305,674) (65,539) (371,213)
Net cash provided by operating activities 2,632,651$ 379,029$ 3,011,680$
NON-CASH CAPITAL AND RELATED FINANCING
Contributions of capital assets from developers 188,749$ -$ 188,749$
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, 2019
The Notes to Financial Statements are an integral part of this statement.
39
Agency Fund
ASSETS
Cash and cash equivalents 20,861$
Investments 3,293
Accounts receivable 26
TOTAL ASSETS 24,180$
LIABILITIES
Due to other agencies and individuals 24,180$
TOTAL LIABILITIES 24,180$
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 separate
column in the combined financial statements to emphasize it is legally separate from the government.
Each blended component unit has a September 30 year-end.
Blended Component Unit — The Colleyville Economic Development Corporation (CEDC) was
incorporated on September 3, 1996, as a nonprofit industrial development corporation under the
Development Corporation Act of 1979 (Act). The CEDC operates under a seven-member board of
directors appointed by the City Council. Each of the directors shall be a resident of the City. The
Corporation is organized exclusively for the purposes of benefiting and accomplishing public purposes
of and to act on behalf of, the City, and the specific purposes for which the Corporation is organized.
This includes municipal park improvements, the purchase of land and improvements for additional
neighborhood parks, the construction of a community center and library. Although it is legally separate
from the City, the CEDC is reported as if it were part of the primary government, because CEDC is
financing public improvements and the City is the primary beneficiary of the services provided.
Blended Component Unit — Colleyville Crime Control and Prevention District (the District) was formed
under Chapter 363 of the Texas Local Government Code, the Crime Control and Prevention District Act.
The District is organized to act on behalf of the City for financing, development of crime control
throughout the City. The District is governed by a seven-member board consisting of all members of the
City Council. The District is reported as a part of the primary government because it provides services
entirely for the City.
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 requirements imposed by the provider have been
met.
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon
as they are both measurable and available. Revenues are considered to be available when they are
collectible within the current period or soon enough thereafter to pay liabilities of the current period.
For this purpose, the government considers revenue to be available if collected within 60 days of the
end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as
under accrual accounting. However, debt service expenditures, as well as expenditures related to
compensated absences and claims and judgments, are recorded only when payment is due.
Property taxes, franchise taxes, sales taxes, and interest associated with the current fiscal period are all
considered to be susceptible to accrual and so have been recognized as revenue of the current fiscal
period. All other revenue items are considered to be measurable and available only when cash is
received by the City.
City of Colleyville, Texas
Notes to the Basic Financial Statements
43
Governmental Funds
Governmental Funds are those through which most governmental functions of the City are financed.
The acquisition, use, and balances of the City's expendable financial resources and the related
liabilities (except those accounted for in the proprietary fund type) are accounted for through
governmental funds. The measurement focus is upon determination of changes in financial position,
rather than upon net income determination. The following are the City's Governmental Fund types:
The City reports the following major Governmental Funds:
The General Fund — is the general operating fund of the City. It is used to account for all financial
resources except those required to be accounted for in another fund.
The Capital Projects Fund — is used to account for financial resources to be used for the acquisition or
construction of general major capital facilities. Financing is provided primarily by the sale of general
obligation bonds and developer contributions.
The Debt Service Fund — is used to account for the acquisition of resources for, and the payment of,
general long-term debt principal and interest, and related costs.
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 City 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 Funds:
The Water and Wastewater Fund — is used to account for operations (a) that are financed and
operated in a manner similar to private business enterprises — where the intent of the governing
body is that the costs (expenses, including depreciation) of providing goods or services to the
general public on a continuing basis be financed or recovered primarily through user charges; or
(b) where the governing body has decided that periodic determination of revenue earned,
expenses incurred, and/or net income is appropriate for capital maintenance, public policy,
management control, accountability, or other purposes. This fund is used to account for water and
wastewater operations.
The 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, maintenance, 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 Funds are custodial in nature and do not present results
of operations or have a measurement focus. The City has two Agency Funds: Employee Activity and
the Sesquicentennial Fund. These funds are held for the benefit of City employees and to benefit the
City's historical purposes.
As a general rule, the effect of interfund activity has been eliminated from the government-wide
financial statements. Exceptions to this general rule are charges between the City's water and
wastewater function and various other functions of the government. Elimination of these charges
would distort the direct costs and program revenue reported for the various functions concerned.
Amounts reported as program revenues include: 1) charges to customers or applicants for goods,
services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and
contributions, including special assessments. Internally dedicated resources are reported as general
revenues rather than as program revenue. Likewise, general revenue includes all taxes.
Proprietary Funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a Proprietary Fund's principal ongoing operations. The principal operating revenues of
the City's Enterprise Funds are charges to customers for sales and services. Operating expenses for
Enterprise Funds include the cost of sales and services, administrative expenses, and depreciation on
capital assets. All revenue and expenses not meeting this definition are reported as nonoperating
revenue and expenses.
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 value) 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 outstanding between the governmental activities and business-type activities are reported
in the government-wide financial statements as "internal balances."
Advances between funds, as reported in the fund financial statements, are offset by a fund balance
reserve account in applicable governmental funds to indicate that they are not available for
appropriation and are not expendable available financial resources.
The allowance for uncollectible accounts receivable for utility billing is estimated as a percentage 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 receivables.
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 date 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 expenditures/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 government-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 than $5,000 (amount not rounded) and an estimated
useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost
if purchased or constructed. Donated capital assets are recorded at 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
Buildings15-50
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 when 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 financial statements are as follows:
Nonspendable: This classification includes amounts that cannot be spent because they are either
(a) not in spendable form or (b) are legally or contractually required to be maintained intact.
Nonspendable items are not expected to be converted to cash or are not expected to be converted to
cash within the next year.
Restricted: This classification includes amounts for which constraints have been placed on the use of the
resources either (a) externally imposed by creditors, 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 was employed when the funds were initially
committed. This classification also includes contractual obligations to the extent that existing resources
have been specifically committed for use in satisfying those contractual requirements.
Assigned: This classification includes amounts that are constrained by the City's intent to be used for a
specific purpose but are neither restricted nor committed. This is done through resolution of the City
Council. This intent can be expressed by the Chief Financial Officer.
Unassigned: This classification includes the residual fund balance for the General Fund. The unassigned
classification also includes negative residual fund balance of any other governmental fund that cannot
be eliminated by offsetting of assigned fund balance amounts.
When an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is
available, the City considers restricted funds to have been spent first. When an expenditure is incurred for
which committed, assigned, or unassigned fund balances are available, the City considers amounts to
have been spent first out of committed funds, then assigned funds, and finally unassigned funds.
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 maintain an unassigned fund balance in the General Fund equal
to three months of that year's budgeted expenditures for both the General and Utility Funds. The City
Council may declare a fiscal emergency and withdraw any amount of the unassigned General and Utility
Funds' balances for purposes of addressing the fiscal emergency. Any such action must also provide for
necessary appropriations to restore the designated fund balance to the balance within a three-year
period.
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 amounts to report as restricted
net position and unrestricted net position in the government-wide and proprietary fund financial
statements, a flow assumption must be made about the order in which the resources are considered to
be applied. It is the City's policy to consider restricted net position to have been depleted before
unrestricted net position is applied.
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 statement element, deferred outflows of
resources, represents a consumption of net position that applies to a future period(s) and so will not be
recognized as an outflow of resources (expense/expenditure) until then. The City has the following items
that qualify for reporting in this category.
Deferred charges on refunding – 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 will sometimes report a separate section for deferred inflows
of resources. This separate financial statement element, deferred inflows of resources, represents an
acquisition of fund that applies to a future period(s) and so will not be recognized as an inflow of
resources (revenue) until that time. The government has 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 inflow 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 measuring the net pension asset, pension related deferred outflows and inflows of
resources, and pension expense, City specific information about its Fiduciary Net Position in the Texas
Municipal Retirement System (TMRS) and additions to/deductions from the City's Fiduciary Net Position
have been determined on the same basis as they are reported by TMRS. For this purpose, plan
contributions are recognized in the period that compensation is reported for the employee, which is
when contributions are legally due. Benefit payments and refunds are recognized when due and
payable in accordance with the benefit terms. Investments are reported at fair value. Information
regarding the City's Total Pension 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 year, 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 approved 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, Crime
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 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; and Level 3 inputs are significant unobservable inputs.
City of Colleyville, Texas
Notes to the Basic Financial Statements
50
As of September 30, 2019, the City held the following fair value measurements:
Value at
September
30, 2019 Level 1 Inputs Level 2 Inputs Level 3 Inputs
Percent of
Total
Investments
City:
Cash and cash equivalents:
Cash deposits - City 15,193,185$ -$ -$ -$
Petty Cash - City 2,462
Cash deposits - trust
and agency 20,861 - - -
Investments not subject to
fair value:
Investment pools:
TexPool 14,301,770 - - - 21% 28
TexStar 14,735,526 - - - 22% 30
Texas CLASS 9,673,420 - - - 14% 27
LOGIC 1,654,708 - - - 2% 34
Investments in certificates
of deposits:
Certificates of deposits 4,045,292 - - -
Investments by fair value level:
Federal Farm Credit Bonds 3,750,000 - 3,750,000 - 6% 100
Federal Home Loan Bank Bonds 2,593,786 - 2,593,786 - 4% 88
Freddie Mac 1,408,231 - 1,408,231 - 2% 319
Total cash and investments
of the city 67,379,241 - 7,752,017 -
Component unit:
Cash and cash equivalents:
Cash deposits 3,932,618 - - -
Investments not subject to
fair value:
Investment pools:
Texas CLASS 4,100,045 - - - 17% 55
TexPool 10,956,182 - - - 46% 30
TexStar 1,018,600 - - - 4% 28
Logic 809,844 - - - 3% 34
Investments by fair value level:
Federal Farm Credit Bonds 1,255,000 - 1,255,000 - 5% 100
Federal Home Loan Bank Bonds 1,088,367 - 1,088,367 - 5% 100
Freddie Mac 514,528 - 514,528 - 2% 88
Total cash and investments
of the component unit 23,675,184 - 2,857,895 -
Total cash and investments of the
reporting entity 91,054,425$ -$ 10,609,912$ -$
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.
City of Colleyville, Texas
Notes to the Basic Financial Statements
51
The Public Funds Investment Act (Government Code Chapter 2256) contains specific provisions in the
areas of investment practices, management reports and establishment of appropriate policies.
Among other things, it requires the City to adopt, implement, and publicize an investment policy. That
policy must address the following areas: (1) safety of principal and liquidity, (2) portfolio diversification,
(3) allowable investments, (4) acceptable risk levels, (5) expected rates of return, (6) maximum
allowable stated maturity of portfolio investments, (7) maximum average dollar-weighted maturity
allowed based on the stated maturity date for the portfolio, (8) investment staff quality and
capabilities, and (9) bid solicitation preferences for certificates of deposit. Statutes authorize the City
to invest in (1) obligations of the U. S. Treasury, certain U. S. agencies, and the State of Texas;
(2) certificates of deposit, (3) certain municipal securities, (4) money market savings accounts,
(5) repurchase agreements, (6) bankers acceptances, (7) Mutual Funds, (8) investment pools,
(9) guaranteed investment contracts, and (10) common trust funds. The Act also requires the City to
have independent auditors perform test procedures related to investment practices as provided by
the Act. The City is in substantial compliance with the requirements of the Act and with local policies.
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.
TexPool is duly chartered and overseen by the State Comptroller’s Office, administered and
managed by Federated Investors, Inc. State Street Bank serves as the custodial bank. The portfolio
consists of U.S. Government securities; collateralized repurchase and reverse repurchase
agreements; and AAA rated money market mutual funds.
The investment pool transacts at a net asset value of $1.00 per share, has a weighted average
maturity of 60 days or less and weighted average life of 120 days or less, investments held are highly
rated by a nationally recognized statistical rating organization, have no more than 5% of portfolio
with one issuer (excluding US government securities), and can meet reasonably foreseeable
redemptions. The investment pool has a redemption notice period of one day and no maximum
transaction amounts. The investment pools’ authorities may only impose restrictions on redemptions
in the event of a general suspension of trading on major securities market, general banking
moratorium or national or state emergency that affects the pools’ 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.
Texas CLASS is an external investment pool measured at fair value, i.e. net asset value. The investment
pool’s strategy is to seek preservation of principal, liquidity and current income through investment
in a diversified portfolio of short term marketable securities. There are no unfunded commitments
related to the investment pool. Texas CLASS 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 market, general banking moratorium or
national or state emergency that affects the pool’s liquidity. The Texas CLASS portfolio consists of U.S.
Government securities; collateralized repurchase and reverse repurchase agreements; AAA rated
money market mutual funds; and commercial paper.
LOGIC is duly chartered by the State of Texas Interlocal Cooperation Act, is administered by Hilltop
Securities, Inc. and J.P. Morgan Investment Management, Inc. (JPMIM), and managed by JPMIM,
who provides custody and investment management.
City of Colleyville, Texas
Notes to the Basic Financial Statements
52
LOGIC's investment objectives are to seek preservation of principal, liquidity, and current income
through investment in a diversified portfolio of short-term marketable securities. The portfolio will
maintain a dollar-weighted average maturity that does not exceed 60 days and seeks to maintain
a net asset value of $1.00 per share. LOGIC may invest in securities including: obligations of the United
States or its agencies and instrumentalities, including the Federal Home Loan Banks; other obligations
which are unconditionally guaranteed or insured by the U.S.; fully collateralized repurchase
agreements with a defined termination date and unconditionally guaranteed or insured by the U.S.
or its agencies and instrumentalities; SEC-registered money-market fund rated in the highest rating
category by at least one nationally recognized statistical rating organization (NRSRO); and
commercial paper as authorized under the Public Funds Investment Act. The investment pool has a
redemption notice period of one day and no maximum transaction amounts. The investment pools’
authorities may only impose restrictions on redemptions in the event of a general suspension of
trading on major securities market, general banking moratorium or national or state emergency that
affects the pools’ liquidity.
TexSTAR is duly chartered by the State of Texas Interlocal Cooperation Act, is administered by Hilltop
Securities, Inc. and J.P. Morgan Investment Management, Inc. (JPMIM), and managed by JPMIM,
who provides custody and investment management.
The primary objectives of TexSTAR are, in order of priority, preservation and protection of principal,
maintenance of sufficient liquidity to meet Participants’ needs, and yield. The portfolio will maintain
a dollar-weighted average maturity that does not exceed 60 days and seeks to maintain a net asset
value of $1.00 per share. TexSTAR may invest in securities including: obligations of the United States
or its agencies and instrumentalities, including the Federal Home Loan Banks; other obligations which
are unconditionally guaranteed or insured by the U.S.; fully collateralized repurchase agreements
with a defined termination date and unconditionally guaranteed or insured by the U.S. or its agencies
and instrumentalities; and SEC-registered no-load money-market fund which meet the requirements
of the Public Funds Investment Act. The investment pool has a redemption notice period of one day
and no maximum transaction amounts. The investment pools’ authorities may only impose restrictions
on redemptions in the event of a general suspension of trading on major securities market, general
banking moratorium or national or state emergency that affects the pools’ liquidity.
Interest Rate Risk. In accordance with its investment policy, the government manages its exposure to
declines in fair market values by limiting the average dollar weighted maturity of its investment portfolios
to a maximum of 540 days.
Custodial Credit Risk. The City maintains a cash and investment pool that combines cash of the
various funds in order to maximize investment opportunities. The City's policy and state statutes require
that all deposits in financial institutions be insured by the Federal Depository Insurance Corporation
(FDIC) or fully collateralized as per the Public Funds Collateral Act. The City's deposits were fully insured
or collateralized as required by state statutes as of September 30, 2019.
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 noted above.
City of Colleyville, Texas
Notes to the Basic Financial Statements
53
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 Capital Non-Major and Drainage
General Service Pro jects Governmental Sewer Fee Total
Receivables:
Accounts 357,315$ -$ 12,459$ 153,117$ 3,159,492$ 133,600$ 3,815,983$
Taxes 939,931 26,312 - - - - 966,243
Loans 135,750 645,000 - - - - 780,750
Gross receivables 1,432,996 671,312 12,459 153,117 3,159,492 133,600 5,562,976
Less allowance 255,540 - - - 23,331 - 278,871
Net total
receivables 1,177,456$ 671,312$ 12,459$ 153,117$ 3,136,161$ 133,600$ 5,284,105$
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 exemptions,
upon which the fiscal 2019 levy was based, was $5,456,363,643.
Property taxes are limited by the Texas constitution to $2.50 per $100 of assessed valuation and by
City Charter to $1.50 per $100 valuation. Also, the tax rate set per budget year shall not result in
property tax revenue increase greater than seven percent of the total property tax revenue collected
in the preceding budget year, adjusted for new construction, unless authorized by the voters of the
City at a special election. The combined tax rate to finance general governmental service and debt
service for the year ended September 30, 2019, was $0.3208 per $100 of assessed valuation.
Taxes are due by January 31 following the levy date. Tax collections, including related penalties and
interest, was $16,877,275 for the year ended September 30, 2019. Property taxes receivable at September
30, 2019, were $225,264.
The appraisal of property within the City is the responsibility of a countywide appraisal district as
required by legislation passed by the Texas Legislature. The appraisal district is required under such
legislation to assess all property within the appraisal district on the basis of 100% of its appraised value
and is prohibited from applying any assessment ratios. The value of property within the appraisal district
must be reviewed every three years; however, the City may, at its own expense, require annual reviews
of appraised values. The City may challenge appraised values established by the appraisal district
through various appeals and, if necessary, legal action.
City of Colleyville, Texas
Notes to the Basic Financial Statements
54
Note 5. Capital Assets
Capital asset activity for the year ended September 30, 2019, was as follows:
Primary Government
Beginning Capital Sales or Adj ustments/ Ending
Balance Acquisitions Disposals Transfers Balance
Governmental activities:
Capital assets not being depreciated:
Land 9,178,641$ -$ -$ -$ 9,178,641$
Construction-in-progress 4,663,882 2,387,216 - (5,480,065) 1,571,033
Total capital assets not
being depreciated 13,842,523 2,387,216 - (5,480,065) 10,749,674
Capital assets being depreciated:
Buildings and building improvements 50,400,558 28,541 - 945,489 51,374,588
Machinery and Equipment 14,018,330 757,768 (350,346) - 14,425,752
Improvements other than buildings 99,522,267 181,011 - 4,493,220 104,196,498
Total capital assets being depreciated 163,941,155 967,320 (350,346) 5,438,709 169,996,838
Accumulated depreciation:
Buildings and building improvements (22,003,180) (1,465,074) - - (23,468,254)
Machinery and Equipment (10,943,679) (1,162,578) 350,346 - (11,755,911)
Improvements other than buildings (32,248,140) (2,139,640) - - (34,387,780)
Total accumulated depreciation (65,194,999) (4,767,292) 350,346 - (69,611,945)
Total capital assets being depreciated, net 98,746,156 (3,799,972) - 5,438,709 100,384,893
Governmental activities capital assets, net 112,588,679$ (1,412,756)$ -$ (41,356)$ 111,134,567$
Beginning Capital Sales or Adj ustments/ Ending
Balance Acquisitions Disposals Transfers Balance
Business-Type activities:
Capital assets not being depreciated:
Land 304,839$ -$ -$ -$ 304,839$
Construction in progress 1,522,362 - - (1,240,619) 281,743
Total capital assets not
being depreciated 1,827,201 - - (1,240,619) 586,582
Capital assets being depreciated:
Buildings and building improvements 53,922 - - - 53,922
Machinery and equipment 2,264,969 34,341 - - 2,299,310
Improvements other than buildings 80,398,064 1,065,770 - 1,240,619 82,704,453
Total capital assets being depreciated 82,716,955 1,100,111 - 1,240,619 85,057,685
Accumulated depreciation:
Buildings and building improvements (52,061) (86,683) - - (138,744)
Machinery and equipment (1,802,930) (135,617) - - (1,938,547)
Improvements other than buildings (38,765,928) (1,900,288) - - (40,666,216)
Total accumulated depreciation (40,620,919) (2,122,588) - - (42,743,507)
Total capital assets being depreciated, net 42,096,036 (1,022,477) - 1,240,619 42,314,178
Business type activities capital assets, net 43,923,237$ (1,022,477)$ -$ -$ 42,900,760$
City of Colleyville, Texas
Notes to the Basic Financial Statements
55
Component Unit
Beginning Capital Sales or Adjustments/ Ending
Balance Acquisitions Disposals Transfers Balance
Component unit activities:
Capital assets not being depreciated:
Land 6,413,874$ -$ -$ -$ 6,413,874$
Construction-in-progress 3,876,174 2,101,906 - - 5,978,080
Total capital assets not
being depreciated 10,290,048 2,101,906 - - 12,391,954
Capital assets being depreciated:
Improvements other than buildings 10,923,574 675,184 - - 11,598,758
Total capital assets being depreciated 10,923,574 675,184 - - 11,598,758
Accumulated depreciation:
Improvements other than buildings (771,916) (241,606) - - (1,013,522)
Total accumulated depreciation (771,916) (241,606) - - (1,013,522)
Total capital assets being depreciated, net 10,151,658 433,578 - - 10,585,236
Component unit activities capital assets, net 20,441,706$ 2,535,484$ -$ -$ 22,977,190$
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General government 387,172$
Public safety 1,139,167
Public works 2,240,186
Culture and recreation 1,000,767
Total depreciation expense -
governmental activities 4,767,292$
Business-type activities:
Water and sewer 1,975,313$
Drainage utility 147,275
2,122,588$
City of Colleyville, Texas
Notes to the Basic Financial Statements
56
Construction Commitments
The government has active construction projects as of September 30, 2019. The major projects are listed
as follows:
Remaining
Project Spent-to-date Commitment
Frontier Court Project 107,325$ 282,914$
McDonwell School Road and Westcoat Drive Roundabout - design 184,940 28,784
Roberts Road - Design 85,515 177,196
LD Lockett Designated Right Turn Lane 11,899 59,541
Generator at City Hall 127,608 287,213
Tree Restoration Project 73,330 3,667
Water Project 10: Apple Valley 46,650 3,000
SCADA Upgrade 22,244 75,059
Water Tower Rehab/Demo 143,008 1,501
Green Meadow Creek Mitigation 9,250 33,750
Glade Road Phase 2,3,4 Design 951,716 146,351
Colleyville Plaza Renovation 1,848,897 1,178,046
Cheek-Sparger Road Improvements 297,964 127,699
Westcoat/John McCain Roundabout 4,800 61,711
Drainage Master Plan 197,387 243,394
State Highway 26 Corridor Enhancements - Design 414,154 289,846
Total 4,526,687$ 2,999,671$
Note 6. Interfund Transactions
The composition of interfund transfers as of September 30, 2019, is as follows:
Nonmajor
Debt Capital Government
General Service Projects Funds Total
Transfer out:
General fund -$ -$ 3,908,080$ 514,706$ 4,422,786$
Nonmajor governmental funds - 509,100 - 10,000 519,100
Water and wastewater 226,117 - - 44,286 270,403
Total 226,117$ 509,100$ 3,908,080$ 568,992$ 5,212,289$
Transfer in
The most significant interfund transfers include the transfer of $3,908,080 from the General Fund to the
Capital Projects and no major governmental funds represents transfers for capital replacement.
The transfer of $509,100 from the Crime Control District to the Debt Service Fund is for the repayment
of debt. All principal and interest is paid from the Debts Service Fund. The $226,117 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
57
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 general obligation bonds issued in prior years was $35,540,000.
General obligation bonds are direct obligations and pledge the full faith and credit of the
government. These bonds generally are issued as 20-year serial bonds with equal amounts of principal
maturing each year.
Long-term liability activity for the year ended September 30, 2019, was as follows:
Amount
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Governmental activities:
General obligation bonds and
certificates of obligation 5,665,000$ -$ (1,510,000)$ 4,155,000$ 1,045,000$
Sales tax revenue bonds 5,680,000 - (445,000) 5,235,000 460,000
Bond premiums 235,299 - (10,020) 225,279 16,565
Capital leases payable 637,365 - (193,690) 443,675 84,927
Compensated absences 1,398,579 2,560,782 (2,003,440) 1,955,921 365,475
Net pension liability - 2,932,903 - 2,932,903 -
Total OPEB liability 437,789 - (3,721) 434,068 -
Total governmental activities 14,054,032$ 5,493,685$ (4,165,871)$ 15,381,846$ 1,971,967$
Amount
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Business-type activities:
Revenue bonds and certificates
of obligation 365,000$ -$ (115,000)$ 250,000$ 125,000$
Bond premiums - - - - -
Compensated absences 114,962 233,642 (165,955) 182,649 15,654
Net pension liability - 417,921 - 417,921 -
Total OPEB liability 63,107 - (536) 62,571 -
Total business-type activities 543,069$ 651,563$ (281,491)$ 913,141$ 140,654$
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Component unit:
Note payable to primary government 1,270,000$ -$ (625,000)$ 645,000$ 645,000$
Bond premiums 48,081 - (24,040) 24,041 24,041
Total component unit 1,318,081$ -$ (649,040)$ 669,041$ 669,041$
For the governmental activities, compensated absences are generally liquidated by the General Fund.
City of Colleyville, Texas
Notes to the Basic Financial Statements
58
Long-term liabilities at September 30, 2019, consisted of the following:
Final Interest Business-
General Obli gation Bonds and Certificates of Obligation Maturity Rates Governmental Type
$2,945,000 Series 2011, General Obli gation Refunding Bonds 2020 2.0 - 4.0% 170,000$ -$
$6,225,000 Series 2016, General Obli gation Refunding Bonds 2027 2.0 - 3.0% 3,985,000 -
4,155,000$ -$
Final Interest Business-
Governmental Revenue Bonds Maturity Rates Governmental Type
$7,330,000 Series 2013, Refunding and Improvement
Sales Tax Revenue Bonds 2029 2.88% 5,235,000$ -$
$1,550,000 Series 2011, Waterworks and Wastewater
System Refunding Bonds 2021 3.47% - 250,000
5,235,000$ 250,000$
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, 2019, the City was in compliance with these
requirements.
The City's component unit, the Tax Increment Financing District, long-term liabilities at September 30, 2019,
consisted of the following:
Tax Increment Financing District
Final Interest Component
Notes Payable Maturity Rates Unit
$2,480,000 Note payable to primary government 2020 2.0 - 4.0% 645,000$
645,000$
City of Colleyville, Texas
Notes to the Basic Financial Statements
59
Governmental-type Activities
General Obligation Bonds and Certificates of Obligation
Fiscal Years Ending
September 30, Principal Interest Total
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 445,000 32,350 477,350
2025-2027 1,395,000 42,250 1,437,250
Total 4,155,000$ 334,325$ 4,489,325$
Governmental Activities
General Revenue Bonds
Fiscal Years Ending
September 30, Principal Interest Total
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 510,000 88,128 598,128
2025-2029 2,805,000 206,712 3,011,712
Total 5,235,000$ 803,160$ 6,038,160$
Governmental Activities
Business-type Activities
Revenue Bonds and Certificates of Obligation
Fiscal Years Ending
September 30, Principal Interest Total
2020 125,000$ 6,506$ 131,506$
2021 125,000 2,169 127,169
Total 250,000$ 8,675$ 258,675$
Business-Type Activities
City of Colleyville, Texas
Notes to the Basic Financial Statements
60
Discretely Presented Component Unit – Tax Increment Financing Fund
Revenue Bonds and Certificates of Obligation
Fiscal Years Ending
September 30, Principal Interest Total
2020 645,000$ 9,675$ 654,675$
Total 645,000$ 9,675$ 654,675$
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.
The future minimum lease obligations and the net present value of these minimum lease payments as
of September 30, 2019, were as follows:
Fiscal Years Ending
September 30,
2020 93,674$
2021 95,219
2022 96,818
2023 48,484
2024 48,484
2025-2027 145,650
Total minimum lease payments 528,329
Less: amount representing interest (84,654)
Present value of minimum lease payments 443,675$
Governmental
Activities
Note 8. Defined Benefit Pension Policies
Plan Descriptions
The City participates as one of 887 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
61
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 employee's contributions, with interest,
and the City-financed monetary credits with interest were used to purchase an annuity. Members
may choose to receive their retirement benefit in one of seven payments options. Members may also
choose to receive a portion of their benefit as a Partial Lump Sum Distribution in an amount equal to
12, 24, or 36 monthly payments, which cannot exceed 75% of the member's deposits and interest.
A summary of plan provisions for the City are as follows:
Employee deposit rate 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, 2018 valuation and measurement date, the following employees were covered by
the benefit –terms:
Inactive employees or beneficiaries currently receiving benefits 136
Inactive employees entitled to but not yet receiving benefits 149
Active employees 177
462
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 annually by the actuary, using the Entry Age Normal (EAN) actuarial cost method. The
actuarially determined rate is the estimated amount necessary to finance the cost of benefits earned
by employees during the year, with an additional amount to finance any unfunded accrued liability.
Employees for the City were required to contribute 7% of their annual gr oss earnings during the fiscal year.
The contribution rates for the City were 8.82% and 8.72% in calendar years 2018 and 2019, respectively.
The city's contributions to TMRS for the year ended September 30, 2019, were $1,175,648, and were equal
to the required contributions.
City of Colleyville, Texas
Notes to the Basic Financial Statements
62
Net Pension Liability/(Asset)
The City's Net Pension Liability/(Asset) was measured as of December 31, 2018, and the Total Pension
Liability/(Asset) used to calculate the Net Pension Liability was determined by an actuarial valuation as
of that date.
Actuarial Assumptions
The Total Pension Liability/(Asset) in the December 31, 2018 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 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 impairment
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 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 and a one-time change to the amortization policy. Plan
assets are manages on a total return basis with an emphasis on both capital appreciation as well as
the production of income, in order to satisfy the short-term and long-term funding needs of TMRS.
City of Colleyville, Texas
Notes to the Basic Financial Statements
63
The long-term expected rate of return on pension plan investments was determined using a
building-block method in which best estimate ranges of expected future real rates of return (expected
returns, net of pension plan investment expenses and inflation) are developed for each major asset
class. These 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 allocation and best
estimates of arithmetic real rates of return for each major assets class in fiscal year 2019 are summarized
in the following table:
Long-Term
Expected Real
Tar get Rate of Return
Asset Class Allocation (Arithmetic)
Domestic equity 17.5% 4.30%
International equity 17.5% 6.10%
Core fixed income 10.0% 1.00%
Non-core fixed income 20.0% 3.39%
Real return 10.0% 3.78%
Real estate 10.0% 4.44%
Absolute return 10.0% 3.56%
Private equity 5.0% 7.75%
T otal 100.0%
Discount Rate
The discount rate 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
64
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, 2017 55,765,880$ 58,658,250$ (2,892,370)$
Chan ges for the year:
Service cost 2,067,935 - 2,067,935
Interest 3,748,186 - 3,748,186
Change of benefit terms - - -
Difference between expected and
actual experience 713,928 - 713,928
Changes of assumptions - - -
Contributions - employer - 1,159,516 (1,159,516)
Contributions - employee - 920,251 (920,251)
Net investment income - (1,757,178) 1,757,178
Benefit payments, including refunds
of employee contributions (2,542,340) (2,542,340) -
Administrative expense - (33,960) 33,960
Other changes - (1,774) 1,774
Net changes 3,987,709 (2,255,485) 6,243,194
Balance at December 31, 2018 59,753,589$ 56,402,765$ 3,350,824$
Increase (Decrease)
The following presents the net pension liability/(asset) of the City, calculated using the discount rate 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 )11,642,653$ 3,350,824$ (3,479,184)$
Pension Plan Fiduciary 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, 2019, the City recognized pension expense of $2,596,090. The
General Fund, Capital Projects Fund, Colleyville Economic Development Fund, Water and Sewer Fund,
Drainage Utility Fund, Crime District Fund, and Juvenile Case Manger Fund have been used to liquidate
pension liabilities.
City of Colleyville, Texas
Notes to the Basic Financial Statements
65
At September 30, 2019, the City reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual economic experience 626,833$ (8,952)$
Changes in actuarial assumptions 151,275 -
Difference between proj ected and actual investment earnings 3,035,690 -
Contributions subsequent to the measurement date 886,669 -
Total 4,700,467$ (8,952)$
$886,669 reported as deferred outflows of resources related to pensions resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the net pension
liability/(asset) for the measurement year ending December 30, 2018 (i.e. recognized in the City’s
financial statements for the year ended September 30, 2020). Other amounts reported as deferred
outflows and inflows of resources related to pensions will be recognized in pension expense as follows:
Fiscal
Net Deferred
Outflows
Years Ended (Inflows) of
December 30, Resources
2019 1,438,756$
2020 612,215
2021 581,451
2022 1,172,424
2023 -
Total 3,804,846$
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, 2018, the date of the latest actuarial valuation, consists of the
following:
Inactive employees currently receiving benefits 91
Inactive employees entitled to but not yet receiving benefits 17
Active employees 177
Total 285
City of Colleyville, Texas
Notes to the Basic Financial Statements
66
Valuation of Assets
For purposes of calculating the Total OPEB Liability, the plan is considered to be unfunded and therefore
no assets are accumulated for OPEB.
Actuarial Assumptions:
The OPEB Liability in the December 31, 2018 actuarial valuation was determined using the following
actuarial assumptions:
Inflation 2.50%
Salary i ncreases 3.50% to 10.50 % i ncludi ng i nflati on
Di scount rate 3.71%
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 impairment
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 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, 2017 500,896$
Chan ges for the year:
Service cost 26,293
Interest 16,950
Change of benefit terms -
Difference between expected and
actual experience (5,282)
Changes of assumptions (38,274)
Benefit payments, including refunds
of employee contributions (3,944)
Net changes (4,257)
Balance at December 31, 2018 496,639$
City of Colleyville, Texas
Notes to the Basic Financial Statements
67
The following presents the OPEB liability of the City, calculated using the discount rate of 3.71%, 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 (2.71%) or one-percentage-higher (4.71%) than the current rate:
1% Decrease in
Discount Discount
1% Increase in
Discount
(2.71%)Rate (3.71%)(4.71%)
Total OPEB liability 600,488$ 496,639$ 416,712$
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB.
For the year ended September 30, 2019, the City recognized OPEB expense of $42,956. The General
Fund, Capital Projects Fund, Colleyville Economic Development Fund, Water and Sewer Fund,
Drainage Utility Fund, Crime District Fund, and Juvenile Case Manger Fund have been used to liquidate
OPEB liabilities.
At September 30, 2019, the City reported deferred outflows of resources and deferred inflows of
resources related to OPEB from the following sources:
Deferred
outflows of
Resources
Deferred inflows
of Resources
Differences between expected and actual experience 28,935$ (32,422)$
Changes in assumptions and other inputs - (4,474)
Contributions made subsequent to measurement date 3,050 -
Total 31,985$ (36,896)$
$3,050 reported as deferred outflows of resources related to OPEB resulting from contributions
subsequent to the measurement date will be recognized as a reduction of the OPEB liability for the
measurement year ending December 30, 2018 (i.e. recognized in the City’s financial statements for
the year ended September 30, 2020). Other amounts reported as deferred outflows and inflows of
resources related to pensions will be recognized in pension expense as follows:
Net Deferred
Outflows
Years Ending (Inflows) of
December 30, Resources
2019 (287)$
2020 (287)
2021 (287)
2022 (287)
2023 (3,217)
Thereafter (3,596)
Total (7,961)$
City of Colleyville, Texas
Notes to the Basic Financial Statements
68
Note 10. 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 2019 amounted to approximately $8,151,943 and $2,817,036,
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, theft of, damage to, and destruction of
assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal year 1974,
the City joined the Texas Municipal League Workers Compensation Joint Insurance Fund for risks
related to employees. During the fiscal year 1992, the City joined the Texas Municipal League Joint
Insurance Fund for risks related to general liability, property and errors and omissions. Premiums are
paid to the Pool, which retains a limit of loss. Reinsurance companies insure the risks beyond those
limits. The City retains, as a risk, only the deductible amount of each policy. There have been no
significant reductions in insurance coverage and no settlements exceeded insurance coverage in
the past three fiscal years.
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, 2019. 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 $11,041
for the year ended September 30, 2019.
City of Colleyville, Texas
Notes to the Basic Financial Statements
69
Note 14. Restatement of Fund Balance and Net Position
In fiscal year 2017, the CEDC was awarded a cost reimbursement grant from North Central Texas
Council of Governments (NCTCOG). The CEDC incurred costs related to the grant in fiscal year 2015.
The reimbursement was not received by CEDC until FY 2019. This resulted in revenue that was not
captured in the proper reporting period. As of September 30, 2018, the revenue and fund
balance/net position of the CEDC and governmental activities of the City were understated by
$174,800. The changes to revenue and fund balance/net position are as follows:
Colleyville
Economic Governmental
Development Activities
Fund balance/net position, September 30, 2018, as previously presented 4,471,253$ 144,765,446$
Increase in grants/contributions revenue 174,800 -
Increase in program revenues- operating grants and contributions - 174,800
Fund balance/net position, September 30, 2018, as restated 4,646,053$ 144,940,246$
Note 15. New Accounting Pronouncements
The GASB pronouncements effective in fiscal year 2019 and 2020 are listed as follows:
The GASB issued Statement No. 83, Certain Asset Retirement Obligations, in November 2016. This
statement establishes criteria for determining the timing and pattern of recognition of a liability and
a corresponding deferred outflow of resources for asset retirement obligations. This standard became
effective for the City in fiscal year 2019. The implementation had no effect on the City’s financial
statements.
The GASB issued Statement No. 88, Certain Disclosures Related to Debt, including Debt Borrowings
and Direct Placements, in April 2018. This statement improves the information that is disclosed in noted
to the government financial statements related to debt, including direct borrowings and direct
placements. This standard became effective for the City in fiscal year 2019. The implementation had
no effect on the City’s financial statements.
The GASB issued Statement No. 84, Fiduciary Activities, in January 2017. This statement establishes
standards of accounting and financial reporting for fiduciary activities. This standard becomes
effective for the City in fiscal year 2020. This City has not yet determined the impact of this statement.
The GASB issued Statement No. 87, Leases, in June 2017. This Statement established standards of
accounting and financial reporting for lease by lessees and lessors. This standard becomes effective
for the City in fiscal year 2021. The City has not yet determined the impact of this statement.
The GASB issued Statement No. 89, Accounting for interest Cost Incurred before the End of a
Construction Period. This Statement establishes objectives to enhance the relevance and
comparability of information about capital assets and the cost of borrowing for a reporting period,
and to simplify accounting for interest cost incurred before the end of a construction period. This
standard becomes effective for the City in fiscal year 2021. The City has not yet determined the
impact of this statement.
70
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71
Required Supplementary Information
72
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73
Budgetary Comparison
Schedules
City of Colleyville, Texas Exhibit A-1
General Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2019
See Notes to the Budgetary Comparison Schedules
74
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 20,435,867$ 20,435,867$ 21,109,864$ 673,997$
Fines and forfeitures 822,604 822,604 702,909 (119,695)
Licenses, permits and fees 993,900 993,900 1,141,959 148,059
Intergovernmental 159,390 159,390 159,390 -
Charges for services 1,352,983 1,352,983 1,442,807 89,824
Investment earnings 55,000 55,000 376,662 321,662
Miscellaneous 60,100 60,100 38,807 (21,293)
TOTAL REVENUES 23,879,844 23,879,844 24,972,398 1,092,554
EXPENDITURES
Current:
General government 4,303,358 4,303,358 3,773,064 530,294
Community development and engineering 1,506,640 1,506,640 1,366,898 139,742
Fire and rescue 5,552,087 5,552,087 5,470,304 81,783
Leisure services 2,648,110 2,648,110 2,518,475 129,635
Maintenance 755,851 755,851 741,907 13,944
Municipal court 443,419 443,419 432,537 10,882
Police services 5,063,010 5,063,010 4,780,246 282,764
Streets and drainage 1,743,307 1,743,307 1,537,425 205,882
Capital outlay 14,000 14,000 65,152 (51,152)
TOTAL EXPENDITURES 22,029,782 22,029,782 20,686,008 1,343,774
Excess of revenues over expenditures 1,850,062 1,850,062 4,286,390 2,436,328
OTHER FINANCING SOURCES (USES)
Proceeds from the sale of property 5,000 5,000 14,116 9,116
Transfers in 226,117 226,117 226,117 -
Transfers out (2,014,706) (2,014,706) (4,422,786) (2,408,080)
TOTAL OTHER FINANCING SOURCES (USES)(1,783,589) (1,783,589) (4,182,553) (2,398,964)
NET CHANGE IN FUND BALANCE 66,473 66,473 103,837 37,364
FUND BALANCES, beginning of year 9,655,499 9,655,499 9,655,499 -
FUND BALANCES, end of year 9,721,972$ 9,721,972$ 9,759,336$ 37,364$
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, 2019
See Notes to the Budgetary Comparison Schedules
75
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 1,907,400$ 1,907,400$ 1,943,228$ 35,828$
Investment earnings 9,273 9,273 44,900 35,627
Total revenues 1,916,673 1,916,673 1,988,128 71,455
EXPENDITURES
General government 80,666 80,666 76,039 4,627
Leisure services 637,827 637,827 833,603 (195,776)
Capital outlay 1,425,195 1,425,195 972,245 452,950
Debt service:
Principal retirement 602,176 602,176 445,000 157,176
Interest and fiscal charges - - 157,176 (157,176)
Total expenditures 2,745,864 2,745,864 2,484,063 261,801
Excess (deficiency) of revenues
over (under) expenditures (829,191) (829,191) (495,935) 333,256
Net change in fund balance (829,191) (829,191) (495,935) 333,256
FUND BALANCE, beginning of year 4,646,053 4,646,053 4,646,053 -
FUND BALANCE, end of year 3,816,862$ 3,816,862$ 4,150,118$ 333,256$
Budgeted Amounts
76
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City of Colleyville, Texas
Notes to the Budgetary Comparison Schedules
For the Fiscal Year Ended September 30, 2019
77
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, 2019 were:
General Fund:
Capital Outlay ($51,152)
The General Fund capital outlay expenditures exceeded appropriations by $51,152 mainly due to
the $33,306 computer equipment for the conference room and $12,116 computer equipment for
community development. This overage was funded by underspending in other functions.
City of Colleyville, Texas Exhibit A-3
Schedule of Changes in Net Pension Liability
and Related Ratios
Texas Municipal Retirement System
Last Five Measurement Years
78
Measurement Measurement Measurement Measurement Measurement
Year Year Year Year Year
2018 2017 2016 2015 2014
Total pension liability:
Service cost 2,067,935$ 2,045,941$ 1,920,420$ 1,820,192$ 1,598,908$
Interest 3,748,186 3,528,308 3,302,291 3,149,676 2,938,763
Changes of benefit terms - - - - -
Difference between expected and actual
experience 713,928 19,139 205,568 (55,444) 136,216
Change in assumptions - - - 937,119 -
Benefit payments, including refunds of
employee contributions (2,542,340) (2,151,523) (2,133,755) (1,814,665) (1,728,299)
Net change in total pension liability 3,987,709 3,441,865 3,294,524 4,036,878 2,945,588
Total pension liability - beginning 55,765,880 52,324,015 49,029,491 44,992,613 42,047,025
Total pension liability - ending (a)59,753,589 55,765,880 52,324,015 49,029,491 44,992,613
Plan fiduciary net position:
Contributions - employer 1,159,516 1,082,013 922,484 903,631 745,874
Contributions - employee 920,251 898,468 851,897 822,553 763,324
Net investment income (1,757,178) 7,166,092 3,298,224 72,103 2,657,437
Benefit payments, including refunds of
employee contributions (2,542,340) (2,151,523) (2,133,755) (1,814,665) (1,728,299)
Administrative expense (33,959) (37,136) (37,249) (43,918) (27,747)
Other (1,774) (1,882) (2,007) (2,170) (2,281)
Net change in plan fiduciary net position (2,255,485) 6,956,032 2,899,594 (62,466) 2,408,308
Plan fiduciary net position - beginning 58,658,250 51,702,218 48,802,624 48,865,090 46,456,782
Plan fiduciary net position - ending (b)56,402,765 58,658,250 51,702,218 48,802,624 48,865,090
Net pension liability(asset) - ending (a) - (b)3,350,824$ (2,892,370)$ 621,797$ 226,867$ (3,872,477)$
Plan fiduciary net position as a
percentage of total pension liability(asset)94.39% 105.19% 98.81% 99.54% 108.61%
Covered payroll 13,146,439$ 12,835,255$ 12,169,964$ 11,750,753$ 10,904,635$
Net pension liability(asset) as a percentage
of covered payroll 25.49% -22.53% 5.11% 1.93% -35.51%
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 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 Six Fiscal Years
79
Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
2019 2018 2017 2016 2015 2014
Actuarially determined contribution 2,596,092$ 1,538,670$ 1,048,848$ 941,907$ 868,363$ 738,034$
Contribution in relation of the actuarially
determined contribution 2,596,092 1,538,670 1,048,848 941,907 868,363 738,034
Contribution deficiency (excess)-$ -$ -$ -$ -$ -$
Covered payroll 13,389,846$ 13,188,135$ 12,528,384$ 12,281,471$ 11,640,489$ 10,707,890$
Contributions as a percentage of covered
payroll 19.39% 11.67% 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 six 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
Notes to Texas Municipal Retirement System- Net Pension Liability
Required Supplementary Information
For the Fiscal Year Ended September 30, 2019
80
Actuarial Cost Method Entry Age Normal
Amortization Method Level Percentage of Payroll, Closed
Remaining Amortization Period 25 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
Adj ustment with male rates multiplied by 109% and
female rates multiplied by 103% and proj ected 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 Total OPEB Liability
and Related Ratios
Texas Municipal Retirement System
Last Two Years
81
Measurement Measurement
Year 2018 Year 2017
Total OPEB liability:
Service cost 26,293$ 21,820$
Interest 16,950 16,399
Changes of benefit terms - -
Difference between expected and actual
experience (5,282) -
Change in assumptions (38,274) 41,681
Benefit payments, including refunds of
employee contributions (3,944) (3,851)
Net changes (4,257) 76,049
Net OPEB liability - beginning 500,896 424,847
Net OPEB liability - ending 496,639$ 500,896$
Covered payroll 13,146,439$ 12,835,255$
Net OPEB liability as a percentage
of covered payroll 3.78% 3.90%
Note: Only two years 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- Total OPEB Liability
Required Supplementary Information
For the Fiscal Year Ended September 30, 2019
82
Inflation 2.50%
Salary Increases 3.50% to 10.5% including inflation
Discount Rate* 3.71%
Retirees' share of benefit-related cost $0
Administrative expenses
Mortality rates - service retirees
Mortality rates - disabled retirees
All admi ni strati ve expenses are pai d through the
Pension Trust and accounted for under reporting
requirements under GASB Statement No. 68.
RP2000 Combi ned Mort ality Tabl e with Blue Collar
Adjustment with male rates multiplied by 109%
and female rates multiplied by 103% and
projected on a fully generational basis with scale
RP2000 Combi ned Mort ality Tabl e with Blue Collar
Adjustment with male rates multiplied by 109%
and female rates multiplied by 103% with a 3 year
set-forward for both males and females. The rates
are projected on a fully generational basis with
scale BB to account for future mortality
improvements subject to the 3% floor.
83
Combining and Individual Fund
Financial Statements and Schedules
84
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City of Colleyville, Texas Exhibit B-1
Debt Service Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2019
85
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 692,115$ 692,115$ 831,406$ 139,291$
Intergovernmental 653,725 653,725 653,725 -
Investment earnings 5,000 5,000 12,162 7,162
Total revenues 1,350,840 1,350,840 1,497,293 146,453
EXPENDITURES
Principal retirement 1,858,440 1,858,440 1,703,690 154,750
Interest and fiscal charges 1,500 1,500 155,812 (154,312)
Total expenditures 1,859,940 1,859,940 1,859,502 438
Deficiency of revenues
under expenditures (509,100) (509,100) (362,209) 146,891
OTHER FINANCING SOURCES (USES)
Transfers in 509,100 509,100 509,100 -
Total other financing sources (uses )509,100 509,100 509,100 -
Net change in fund balance - - 146,891 146,891
FUND BALANCE, beginning of year 697,975 697,975 697,975 -
FUND BALANCE, end of year 697,975$ 697,975$ 844,866$ 146,891$
Budgeted Amounts
86
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87
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.
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.
88
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.
Vehicle/Equipment Replacement — This fund is used to account for the replacement of vehicle and other
capital equipment.
89
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City of Colleyville, Texas
Non-Major Governmental Funds
Combining Balance Sheet
September 30, 2019
90
Voluntary Police Asse t Tree Library
Voluntary Park Library Forfeiture Preservation Donation
Cash and cash equivalents 336,582$ 139,225$ 832$ 84,387$ 59,361$
Investments 959,277 342,066 17,016 241,673 -
Accounts receivable 430 177 1 108 76
Due from other funds - - - - -
Due from other governments - - - - -
Accrued interest 3,652 - - - -
TOTAL ASSETS 1,299,941$ 481,468$ 17,849$ 326,168$ 59,437$
LIABILITIES
Accounts payable -$ 275$ -$ 69,664$ -$
Accrued liabilities - - - 3,667 -
Due to other funds - - - - -
TOTAL LIABILITIES - 275 - 73,331 -
FUND BALANCES
Restricted - - 17,849 - 59,437
Committed 1,299,941 481,193 - 252,837 -
Assigned - - - - -
TOTAL FUND BALANCES 1,299,941 481,193 17,849 252,837 59,437
TOTAL LIABILITIES AND FUND BALANCES 1,299,941$ 481,468$ 17,849$ 326,168$ 59,437$
LIABILITIES AND FUND BALANCES
ASSETS
Special Revenue
Exhibit B-2
91
Recreational Kidsville Special
Event LEOSE Crime Distric t Maintenance Donations
15,725$ 1,309$ 420,824$ 2,018$ 47,500$
- - 600,584 3,907 -
20 - - - -
- - - - -
- - 303,937 3 61
- - - - -
15,745$ 1,309$ 1,325,345$ 5,928$ 47,561$
-$ -$ 8,431$ -$ -$
- - 18,051 - -
- - - - -
- - 26,482 - -
- 1,309 1,298,863 5,928 47,561
- - - - -
15,745 - - - -
15,745 1,309 1,298,863 5,928 47,561
15,745$ 1,309$ 1,325,345$ 5,928$ 47,561$
Special Revenue
City of Colleyville, Texas
Non-Major Governmental Fund
Combining Balance Sheet
September 30, 2019
92
Court Court Juvenile Case Hotel
Technology Security Grant Fund Public Art Manager Tax Fund
ASSETS
Cash and cash equivalents 2,753$ 1,858$ 27,914$ 2,018$ 5,532$ 162,934$
Investments 6,069 34,336 - 6,036 11,730 280,847
Accounts receivable - - 150,956 3 7 -
Due from other funds - - - - - -
Due from other governments 4 3,191 - - - 55,793
Accrued interest - - - - - -
TOTAL ASSETS 8,826$ 39,385$ 178,870$ 8,057$ 17,269$ 499,574$
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable 789$ -$ 99,513$ -$ 4$ -$
Accrued liabilities - 98 5,238 - 1,083 -
Due to other funds - - - - - -
TOTAL LIABILITIES 789 98 104,751 - 1,087 -
FUND BALANCES
Restricted 8,037 39,287 74,119 - 16,182 499,574
Committed - - - - - -
Assigned - - - 8,057 - -
TOTAL FUND BALANCES 8,037 39,287 74,119 8,057 16,182 499,574
TOTAL LIABILITIES AND FUND BALANCES 8,826$ 39,385$ 178,870$ 8,057$ 17,269$ 499,574$
Special Revenue
Exhibit B-2
93
Total
Vehicle/ Non-Major
Colleyville Parks Park Land Equipment Governmental
Tomorrow Tomorrow Dedication Replacement Funds
540,457$ 268,160$ 139,525$ 13,869$ 2,272,783$
1,912,101 806,441 1,363,575 1,567,402 8,153,060
818 343 178 - 153,117
100,000 - - - 100,000
- - - - 362,989
- - 5,260 2,268 11,180
2,553,376$ 1,074,944$ 1,508,538$ 1,583,539$ 11,053,129$
-$ -$ -$ -$ 178,676$
- - - - 28,137
- - - 100,000 100,000
- - - 100,000 306,813
- - - - 2,068,146
2,553,376 1,074,944 1,508,538 - 7,170,829
- - - 1,483,539 1,507,341
2,553,376 1,074,944 1,508,538 1,483,539 10,746,316
2,553,376$ 1,074,944$ 1,508,538$ 1,583,539$ 11,053,129$
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, 2019
94
Voluntary Police Asset Tree Library
Voluntary Park Library Forfeiture Preservation Donation
REVENUES
Taxes -$ -$ -$ -$ -$
Fines and forfeitures - - - 10,800 -
Intergovernmental - - - - -
Grants/contributions 162,223 162,223 - - 61,687
Investment earnings 27,494 10,969 418 6,161 625
Miscellaneous - - 1,688 - -
Total revenues 189,717 173,192 2,106 16,961 62,312
EXPENDITURES
Current:
General government - - - 80,792 -
Fire and rescue - - - - -
Leisure services - 149,259 - - 34,494
Municipal court - - - - -
Police services - - 7,549 - -
Capital outlay - - - - 105,383
Total expenditures - 149,259 7,549 80,792 139,877
Excess (deficiency) of revenues over
expenditures 189,717 23,933 (5,443) (63,831) (77,565)
OTHER FINANCING SOURCES (USES)
Transfers in - - - - -
Transfers out - - - - -
Total other financing sources (uses) - - - - -
NET CHANGE IN FUND BALANCES 189,717 23,933 (5,443) (63,831) (77,565)
FUND BALANCES, BEGINNING OF YEAR 1,110,224 457,260 23,292 316,668 137,002
FUND BALANCES, END OF YEAR 1,299,941$ 481,193$ 17,849$ 252,837$ 59,437$
Special Revenue
Exhibit B-3
95
Recreational Kidsville Special
Event LEOSE Crime District Maintenance Donations
-$ -$ 1,751,542$ -$ -$
- - - - -
- 3,934 - - -
7,422 - - - 63,276
207 31 21,210 115 592
- - - - -
7,629 3,965 1,772,752 115 63,868
- - - - -
- 1,020 - - 20,738
6,037 - - - 10,077
- - - - -
- 3,190 1,146,932 - 4,538
- - 239,873 - 39,081
6,037 4,210 1,386,805 - 74,434
1,592 (245) 385,947 115 (10,566)
- - - - -
- - (519,100) - -
- - (519,100) - -
1,592 (245) (133,153) 115 (10,566)
14,153 1,554 1,432,016 5,813 58,127
15,745$ 1,309$ 1,298,863$ 5,928$ 47,561$
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, 2019
96
Court Court Public Juvenile Case Hotel
Technology Security Grant Fund Ar t Manager Tax Fund
REVENUES
Taxes -$ -$ -$ -$ -$ 251,749$
Fines and forfeitures 18,826 14,098 - - 59,939 -
Intergovernmental 30,469 6,487 - - - -
Grants/contributions - - 210,905 - - -
Investment earnings 223 978 227 153 280 7,060
Miscellaneous - - - - - -
Total revenues 49,518 21,563 211,132 153 60,219 258,809
EXPENDITURES
Current:
General government - - - - - -
Fire and rescue - - - - - -
Leisure services - - - - - 79,397
Municipal court 47,126 30,750 - - 64,685 -
Police services - - 9,404 - - -
Capital outlay - - 127,609 - - 43,451
Total expenditures 47,126 30,750 137,013 - 64,685 122,848
Excess (deficiency) of revenues over
expenditures 2,392 (9,187) 74,119 153 (4,466) 135,961
OTHER FINANCING SOURCES (USES)
Transfers in - - - - - -
Transfers out - - - - - -
Total other financing sources (uses) - - - - - -
NET CHANGE IN FUND BALANCES 2,392 (9,187) 74,119 153 (4,466) 135,961
FUND BALANCES, BEGINNING OF YEAR 5,645 48,474 - 7,904 20,648 363,613
FUND BALANCES, END OF YEAR 8,037$ 39,287$ 74,119$ 8,057$ 16,182$ 499,574$
Special Revenue
Exhibit B-3
97
Total
Vehicle/ Non-Major
Colleyville Parks Park Land Equipment Governmental
Tomorrow Tomorrow Dedication Replacement Funds
-$ -$ -$ -$ 2,003,291$
- - - - 103,663
- - - - 40,890
- - - - 667,736
54,278 24,254 39,834 28,792 223,901
- - 20,743 - 22,431
54,278 24,254 60,577 28,792 3,061,912
- - - 116,564 197,356
- - - - 21,758
- - - - 279,264
- - - - 142,561
- - - 17,250 1,188,863
- - - 359,813 915,210
- - - 493,627 2,745,012
54,278 24,254 60,577 (464,835) 316,900
44,286 - - 524,706 568,992
- - - - (519,100)
44,286 - - 524,706 49,892
98,564 24,254 60,577 59,871 366,792
2,454,812 1,050,690 1,447,961 1,423,668 10,379,524
2,553,376$ 1,074,944$ 1,508,538$ 1,483,539$ 10,746,316$
Capital Pro jects
City of Colleyville, Texas Exhibit B-4
Crime District Fund
Budgetary Comparison Schedule (GAAP Basis)
For the Fiscal Year Ended September 30, 2019
98
Variance with
Final Budget -
Positive
Original Final Actual (Negative)
REVENUES
Taxes 1,745,726$ 1,745,726$ 1,751,542$ 5,816$
Investment earnings 8,000 8,000 21,210 13,210
Total revenues 1,753,726 1,753,726 1,772,752 19,026
EXPENDITURES
Police services 1,172,336 1,172,336 1,146,932 25,404
Capital outlay 295,600 295,600 239,873 55,727
Total expenditures 1,467,936 1,467,936 1,386,805 81,131
Excess of revenues
over expenditures 285,790 285,790 385,947 100,157
OTHER FINANCING SOURCES (USES)
Transfers out (519,100) (519,100) (519,100) -
Total other financing sources (uses )(519,100) (519,100) (519,100) -
Net change in fund balance (233,310) (233,310) (133,153) 100,157
FUND BALANCE, beginning of year 1,432,016 1,432,016 1,432,016 -
FUND BALANCE, end of year 1,198,706$ 1,198,706$ 1,298,863$ 100,157$
Budgeted Amounts
99
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
September 30, 2019
100
Employee
Activity Sesquicentennial
Fund Fund Total
Cash and cash equivalents 2,565$ 18,296$ 20,861$
Investments - 3,293 3,293
Accounts receivable 3 23 26
TOTAL ASSETS 2,568$ 21,612$ 24,180$
Due to other agencies and individuals 2,568$ 21,612$ 24,180$
TOTAL LIABILITIES 2,568$ 21,612$ 24,180$
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, 2019
101
Balance Balance
10/1/2018 Additions Deletions 9/30/2019
ASSETS
Cash and cash equivalents 3,963$ 3,781$ (5,180)$ 2,565$
Accounts receivable - 3 - 3
TOTAL ASSETS 3,963$ 3,784$ (5,180)$ 2,568$
LIABILITIES
Due to other agencies and individuals 3,963$ 3,784$ (5,180)$ 2,568$
TOTAL LIABILITIES 3,963$ 3,784$ (5,180)$ 2,568$
Balance Balance
10/1/2018 Additions Deletions 9/30/2019
ASSETS
Cash and cash equivalents 21,034$ 3,593$ (3,038)$ 18,296$
Investments - 3,299 (6) 3,293
Accounts receivable - 23 - 23
TOTAL ASSETS 21,034$ 6,915$ (3,044)$ 21,612$
LIABILITIES
Due to other agencies and individuals 21,034$ 6,915$ (3,044)$ 21,612$
TOTAL LIABILITIES 21,034$ 6,915$ (3,044)$ 21,612$
Balance Balance
10/1/2018 Additions Deletions 9/30/2019
ASSETS
Cash and cash equivalents 24,997$ 7,374$ (8,218)$ 20,861$
Investments - 3,299 (6) 3,293
Accounts receivable - 26 - 26
TOTAL ASSETS 24,997$ 10,699$ (8,224)$ 24,180$
LIABILITIES
Due to other agencies and individuals 24,997$ 10,699$ (8,224)$ 24,180$
TOTAL LIABILITIES 24,997$ 10,699$ (8,224)$ 24,180$
Employee Activity Fund
Sesquicentennial Fund
Total Agency Funds
102
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103
Statistical Section
104
This Page Intentionally Left Blank
105
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 health.
Contents:
Financial Trends Information .................................................................................................................................. 106
These schedules contain trend information intended to help the reader understand how the City's
financial position has changed over time.
Revenue Capacity Information ............................................................................................................................ 112
These schedules contain information intended to help the reader assess the City's most significant revenue
source, property taxes.
Debt Capacity Information ................................................................................................................................... 117
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 ......................................................................................................... 122
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 ........................................................................................................................................... 125
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)
106
2010 2011 2012 2013 2014
Governmental activities
Net investment in capital assets 81,970,674$ 83,166,142$ 83,211,988$ 84,414,252$ 89,754,051$
Restricted for:
Debt service 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 pro grams - 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 25,936,703 24,265,699 27,752,287 27,113,566 30,119,775
Total governmental activities net position 108,965,076$ 111,775,359$ 115,586,155$ 116,211,275$ 125,185,416$
Business-type activities
Net investment in capital assets 39,080,043$ 38,892,098$ 38,395,708$ 39,269,943$ 41,567,161$
Restricted for:
Debt service 983,225 662,050 - - -
Unrestricted 7,747,336 10,111,776 12,332,238 13,702,724 14,827,594
Total business-type activities net position 47,810,604$ 49,665,924$ 50,727,946$ 52,972,667$ 56,394,755$
Primary government
Net investment in capital assets 121,050,717$ 122,058,240$ 121,607,696$ 123,684,195$ 131,321,212$
Restricted for:
Debt service 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 pro grams - 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 33,684,039 34,377,475 40,084,525 40,816,290 44,947,369
Total primary governmental net position 156,775,680$ 161,441,283$ 166,314,101$ 169,183,942$ 181,580,171$
Source: Comprehensive Annual Financial Report
Fiscal Year
Table 1
107
2015 2016 2017 2018 2019
98,958,693$ 97,982,160$ 99,881,334$ 100,382,597$ 101,081,404$
744,295 692,093 612,641 1,936,893 1,476,905
154,901 215,142 158,853 74,767 63,506
9,844 10,751 11,530 1,554 74,119
233,472 233,290 353,561 564,555 612,500
2,975,894 3,456,897 4,221,531 4,471,253 4,150,118
1,485,735 1,485,771 1,560,027 1,455,308 1,318,021
34,519,503 36,767,262 35,773,373 35,878,519 35,780,949
139,082,337$ 140,843,366$ 142,572,850$ 144,765,446$ 144,557,522$
44,823,618$ 44,010,618$ 44,123,735$ 43,560,389$ 42,652,195$
- - - - -
15,260,882 17,263,830 19,185,890 22,400,538 24,441,942
60,084,500$ 61,274,448$ 63,309,625$ 65,960,927$ 67,094,137$
143,782,311$ 141,992,778$ 144,005,069$ 143,942,986$ 143,733,599$
744,295 692,093 612,641 1,936,893 1,476,905
154,901 215,142 158,853 74,767 63,506
9,844 10,751 11,530 1,554 74,119
233,472 233,290 353,561 564,555 612,500
2,975,894 3,456,897 4,221,531 4,471,253 4,150,118
- - - - -
1,485,735 1,485,771 1,560,027 1,455,308 1,318,021
49,780,385 54,031,092 54,959,263 58,279,057 60,222,891
199,166,837$ 202,117,814$ 205,882,475$ 210,726,373$ 211,651,659$
Fiscal Year
City of Colleyville, Texas
Changes in Net Position, Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Unaudited)
108
2010 2011 2012 2013 2014
Expenses
Governmental activities:
General government 2,691,905$ 2,715,154$ 3,125,214$ 4,075,001$ 4,103,928$
Community development and engineering 1,645,221 1,402,669 1,397,839 1,429,755 1,613,311
Fire 4,419,945 4,421,496 4,321,929 4,529,225 4,625,036
Leisure services 4,118,769 4,191,960 4,124,619 4,106,822 3,776,068
Maintenance 423,783 412,513 400,306 494,545 575,696
Municipal court 302,756 303,839 319,445 586,709 501,604
Police 4,836,274 4,878,055 4,579,570 4,961,444 5,019,343
Streets and drainage 3,885,185 3,657,591 3,073,530 5,322,510 4,128,365
Interest on long-term debt 1,000,061 849,390 780,029 724,458 717,045
Total governmental activities expenses 23,323,899 22,832,667 22,122,481 26,230,469 25,060,396
Business-type activities:
Water and sewer 11,242,553 12,009,187 12,258,587 12,544,530 13,238,893
Drainage 572,234 742,160 723,994 707,647 571,886
Interest on long-term debt 296,288 - - - -
Total business-type activities expenses 12,111,075 12,751,347 12,982,581 13,252,177 13,810,779
T otal primary government expenses 35,434,974$ 35,584,014$ 35,105,062$ 39,482,646$ 38,871,175$
Program revenues
Governmental activities:
Char ges for Services:
General government 15,000$ 97,234$ 28,408$ 15,000$ 15,000$
Community development 647,298 868,363 1,146,518 927,690 1,387,329
Fire and rescue 235,225 305,882 335,308 308,339 377,021
Leisure services 468,426 1,213,167 520,433 501,260 510,991
Municipal court 1,213,178 970,143 1,015,804 1,271,095 1,268,447
Police 94,059 70,709 81,056 70,513 71,022
Streets and drainage 345,780 296,350 338,845 316,338 347,565
Operating grants and contributions 543,516 822,056 490,069 468,361 486,689
Capital grants and contributions 423,873 405,347 381,308 1,158,050 5,943,465
Total governmental activities program revenues 3,986,355 5,049,251 4,337,749 5,036,646 10,407,529
Business-type activities:
Char ges for services:
Water and sewer 11,414,425 14,355,418 14,034,600 14,661,491 14,789,641
Drainage 897,361 903,089 918,323 928,863 939,868
Capital grants and contributions 147,014 168,365 169,464 876,660 2,707,835
Total business-type activities program revenues 12,458,800 15,426,872 15,122,387 16,467,014 18,437,344
T otal primary government program revenues 16,445,155$ 20,476,123$ 19,460,136$ 21,503,660$ 28,844,873$
Net (expenses) revenue
Governmental activities (19,337,544)$ (17,783,416)$ (17,784,732)$ (21,193,823 )$ (14,652,867)$
Business-type activities 347,725 2,675,525 2,139,806 3,214,837 4,626,565
T otal primary government net expenses (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 12,557,716$ 12,414,948$ 12,414,457$ 12,497,692$ 12,950,832$
Franchise taxes 1,867,065 2,031,268 2,207,463 2,074,731 2,172,801
Sales taxes 4,936,484 5,056,597 5,495,730 5,902,557 6,472,195
Other 75,365 80,731 65,808 68,592 98,160
Interest on investments 76,968 95,822 108,192 77,269 39,697
Gain (Loss) on sale of capital assets 65,306 - 147,969 - 810,020
Transfers 857,622 858,879 1,081,868 1,112,540 1,180,292
Miscellaneous 82,833 55,454 74,041 85,562 61,643
Total governmental activities 20,519,359 20,593,699 21,595,528 21,818,943 23,785,640
Business-type activities:
Interest on investments 15,158 38,674 4,084 38,987 23,655
Gain (Loss) on sale of capital assets 15,864 - - 103,437 40,814
Transfers (857,622) (858,879) (1,081,868) (1,112,540) (1,180,292)
Miscellaneous - - - - -
Total business-type activities (826,600) (820,205) (1,077,784) (970,116) (1,115,823)
T otal primary government 19,692,759$ 19,773,494$ 20,517,744$ 20,848,827$ 22,669,817$
Change in net position
Governmental activities 1,181,815$ 2,810,283$ 3,810,796$ 625,120$ 9,132,773$
Business-type activities (478,875) 1,855,320 1,062,022 2,244,721 3,510,742
T otal primary government 702,940$ 4,665,603$ 4,872,818$ 2,869,841$ 12,643,515$
Source: Comprehensive Annual Financial Report
Fi scal Year
Table 2
109
2015 2016 2017 2018 2019
4,676,185$ 4,449,317$ 4,881,741$ 5,330,690$ 5,791,827$
1,582,461 1,558,750 1,672,823 1,387,909 1,398,052
5,264,026 4,783,421 5,524,975 5,690,454 6,192,307
4,042,252 4,701,443 4,987,965 4,271,760 4,710,673
684,301 689,861 1,243,614 738,834 770,762
522,422 448,420 606,269 595,879 575,098
5,681,698 5,734,116 6,093,309 6,634,046 6,749,202
4,404,701 5,150,390 3,578,365 4,009,383 6,181,453
536,161 614,159 408,268 334,839 300,840
27,394,207 28,129,877 28,997,329 28,993,794 32,670,214
14,055,232 13,995,038 14,779,262 15,257,125 15,463,642
833,599 563,268 646,145 740,994 863,826
- - - - -
14,888,831 14,558,306 15,425,407 15,998,119 16,327,468
42,283,038$ 42,688,183$ 44,422,736$ 44,991,913$ 48,997,682$
17,500$ 15,075$ 338,857$ 35,684$ 29,800$
1,587,038 1,356,581 1,148,293 1,447,081 1,361,965
327,264 387,705 340,630 378,019 397,646
503,098 505,203 553,633 563,228 521,448
1,474,485 1,306,924 1,181,280 1,110,960 1,123,157
75,415 93,566 98,859 101,662 93,495
802,551 794,169 634,918 758,952 579,408
450,559 514,845 507,616 614,794 771,681
7,712,266 319,541 1,302,174 406,094 369,126
12,950,176 5,293,609 6,106,260 5,416,474 5,247,726
15,800,163 15,499,159 15,956,329 17,332,891 16,057,020
948,565 954,642 985,636 1,001,180 1,011,428
2,362,261 43,104 481,413 277,639 188,749
19,110,989 16,496,905 17,423,378 18,611,710 17,257,197
32,061,165$ 21,790,514$ 23,529,638$ 24,028,184$ 22,504,923$
(14,444,031)$ (22,836,268)$ (22,891,069)$ (23,577,320)$ (27,422,488)$
4,222,158 1,938,599 1,997,971 2,613,591 929,729
(10,221,873)$ (20,897,669)$ (20,893,098)$ (20,963,729)$ (26,492,759)$
13,493,621$ 13,790,347$ 14,548,461$ 15,471,246$ 15,676,533$
2,319,723 2,206,890 2,105,881 1,982,578 2,086,683
6,705,914 7,252,963 7,304,507 7,578,861 7,584,353
107,977 106,607 263,587 351,715 350,411
100,843 142,343 148,933 315,611 967,396
- 51,849 17,000 51,620 14,116
1,178,590 895,668 63,319 - 270,403
82,873 150,630 168,865 126,859 89,869
23,989,541 24,597,297 24,620,553 25,878,490 27,039,764
52,480 76,014 100,525 - 455,178
5,062 71,003 - - -
(1,178,590) (895,668) (63,319) (260,238) (270,403)
- - - 183,685 18,706
(1,121,048) (748,651) 37,206 (76,553) 203,481
22,868,493$ 23,848,646$ 24,657,759$ 25,801,937$ 27,243,245$
9,545,510$ 1,761,029$ 1,729,484$ 2,301,170$ (382,724)$
3,101,110 1,189,948 2,035,177 2,537,038 1,133,210
12,646,620$ 2,950,977$ 3,764,661$ 4,838,208$ 750,486$
Fiscal Year
City of Colleyville, Texas Table 3 Fund Balances, Governmental Funds (Modified Accrual Basis of Accounting) Last Ten Fiscal Years (Unaudited) 110 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019General fundNonspendable -$ 2,147$ 132,664$ 1,759$ 1,269$ 2,119$ 9,388$ 11,152$ -$ 1,291$ Committed - 706,942 813,536 813,536 813,536 813,536 796,438 682,156 659,712 655,546 Unassigned 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 9,102,499 Total general fund8,813,597$ 10,932,321$ 12,708,825$ 11,822,011$ 10,895,422$ 9,552,401$ 9,525,446$ 9,560,068$ 9,651,711$ 9,759,336$ All other governmental fundsNon-spendable -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Restricted 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 7,063,130 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 25,421,317 Assigned - 1,148,548 954,818 910,611 765,908 812,939 996,929 1,119,062 1,445,725 1,507,341 Unassigned - - - (4,975) - - - - - - Unassigned, reported in:Special revenue funds 5,664,493 - - - - - - - - - Capital projects funds 11,524,206 - - - - - - - - - Total all other governmental funds18,343,269$ 17,969,806$ 20,042,646$ 20,358,601$ 25,130,987$ 27,490,512$ 29,531,901$ 30,971,425$ 32,585,672$ 33,991,788$ Source: Comprehensive Annual Financial ReportNotes: Includes encumbrances and prepaid items.The City implemented GASB 54 in 2011Fiscal Year
City of Colleyville, Texas Table 4 Changes In Fund Balances, Governmental Funds (Modified Accrual Basis of Accounting) Last Ten Fiscal Years (Unaudited) 111 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019REVENUESTaxes 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$ 25,887,789$ Licenses, permits and fees 607,132 923,590 1,130,426 857,135 1,090,012 1,303,710 1,337,928 1,049,673 1,237,198 1,141,959 Capital improvement fees 334,075 281,260 322,498 300,900 333,496 785,992 766,398 612,134 744,465 568,533 Charges for services 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 1,442,807 Fines and forfeitures 917,884 1,694,993 1,030,439 1,321,927 1,577,564 1,571,510 1,398,579 1,485,658 858,709 806,572 Interest 76,968 95,823 110,550 77,269 39,697 100,842 142,330 148,909 315,611 967,396 Intergovernmental 100,807 541,709 124,056 76,506 556,954 1,377,763 224,367 668,469 950,817 854,005 Grants/Contributions 379,853 602,401 406,789 487,066 918,613 981,282 421,497 449,130 328,598 667,736 Miscellaneous 97,833 70,453 89,041 100,562 76,643 97,873 165,642 183,889 127,626 85,935 Total revenues 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 32,422,732 EXPENDITURESGeneral government 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 4,046,459 Community development 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 1,369,857 Fire 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 5,492,430 Police 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 5,969,109 Leisure services 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 3,631,342 Streets and drainage 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 3,940,447 Municipal court 302,172 302,666 319,084 586,911 501,027 508,566 461,393 5,498,406 595,879 575,098 Maintenance 417,946 405,911 394,830 489,685 570,011 662,480 690,007 1,515,283 701,424 744,107 Capital outlay 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 3,141,571 Debt servicePrincipal retirement 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 2,148,690 Interest and fiscal charges 944,751 838,320 757,594 697,140 716,228 524,414 563,660 420,477 375,647 312,988 Total expenditures 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 31,372,098 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES(3,713,268) 940,633 1,724,973 (1,892,824) 2,010,472 (182,684) 932,583 852,754 1,042,331 1,050,634 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 65,306 7,098 147,969 - 925,033 20,598 95,796 17,000 50,651 14,116 Premium on bond issue - 6,561 - - - - 239,163 - - Payments to escrow - (3,012,910) - - (7,600,000) - (6,373,776) - - Transfers in 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 5,212,289 Transfers out(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) (4,941,886) Total other financing sources (uses)1,904,166 804,628 2,124,371 1,321,965 1,835,325 1,199,188 1,081,851 621,392 667,348 284,519 NET CHANGE IN FUND BALANCES(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$ 1,335,153$ Debt service as a percentage of noncapital expenditures 14.3% 14.5% 13.6% 12.3% 9.3% 8.3% 8.0% 10.4% 17.1% 15.6% Fiscal YearFiscal Year
City of Colleyville, Texas Table 5
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
(Unaudited)
112
Fiscal Year
Real
Property
Personal
Property
Less: Tax-Exempt
Property
Total Taxable
Assessed Value
Total Direct Tax
Rate
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
2019 5,756,183,387 114,509,388 414,329,132 5,456,363,643 0.32080
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) 113 Fiscal YearOperating/ General RateGeneral Obligation Debt Service Total DirectBirdville Independent School DistrictCarroll Independent School DistrictGrapevine- Colleyville Independent School DistrictHurst-Euless Bedford Independent School DistrictKeller Independent School DistrictTarrant CountyTarrant County College DistrictTarrant County Hospital District2010 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 2019 0.30376 0.01704 0.32080 1.38390 1.568400 1.326700 1.220000 1.408300 0.234000 0.13017 0.224429 Source: Tarrant Appraisal DistrictNotes: City Direct RatesOverlapping RatesOverlapping 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)
114
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 Velocis Colleyville LP 37,477,871$ 0.69% Melvin & Martindale 24,300,000$ 0.62%
2 KRG Colleyville LLC 27,000,000 0.49% Toll Dallas TX LLC 16,368,368 0.42%
3 LTF Real Estate MP I LLC 20,000,000 0.37% Oncor Electric Delivery Co LLC 16,288,033 0.42%
4 Oncor Electric Delivery Co LLC 15,507,523 0.28% Lifetime Fitness Real Estate 12,304,570 0.31%
5 Welltower Inc 11,189,018 0.21% AC Village Park Partners LLC 10,430,264 0.27%
6 Colleyville Lodging LLC 10,871,315 0.20% RCC Village Properties 8,831,175 0.23%
7 Colleyville Lofts Venture LLC 10,200,000 0.19% Wal-Mart Real Estate Business Trust 8,769,804 0.22%
8 Standard Pacific of Texas 9,650,387 0.18% Colleyville Riverwalk LP 6,054,975 0.15%
9 Atmos Energy/Mid Tex Division 8,570,080 0.16% Leonard Hudson 4,830,200 0.12%
10 Mainvue TX LLC 8,504,197 0.16% Donald and Gina Wilson 4,337,800 0.11%
Total 158,970,391$ 3.38%Total 112,515,189$ 2,80%
Total assessed valuation 5,456,363,643 100.00% Total assessed valuation 3,915,488,086 100.00%
Source: Tarrant Appraisal District
a Taxpayers are assessed on January 1, 2018 (2018 tax year) for the 2019 fiscal year.
b Taxpayers are assessed on January 1, 2013 (2013 tax year) for the 2014 fiscal year.
20142019
City of Colleyville, Texas Table 8
Property Tax Levies and Collections
Last Ten Fiscal Years
(Unaudited)
115
Fiscal Year
Taxes Levied for
the Fiscal Year Amount
Percentage of
Levy
Collections in
Subsequent
Years Amount
Percentage of
Levy
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%
2019 16,902,499 16,847,431 99.70% 29,843 16,877,275 99.85%
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)
116
Percentage Percentage
of Total City of Total City
Water Water Water Water
Taxpayer Usage Usage Usage Usage
City Government 45,337,300 1.81% 57,689,200 2.62%
School District 43,739,500 1.74% 45,447,700 2.07%
Shopping Center 24,180,700 0.96% 8,934,000 0.41%
Homeowners Assoc 20,959,000 0.84% 4,023,300 0.18%
Fitness Center 15,763,000 0.63% 10,758,700 0.49%
Cemetery 13,017,200 0.52% 5,063,700 0.23%
Irrigation 9,145,100 0.36% - - %
Builder 5,773,700 0.23% - - %
Radio Broadcasting 5,729,000 0.23% - - %
Memory Care Center 5,517,200 0.22% - - %
Total 189,161,700 7.55% 131,916,600 6.00%
Notes: City chose not to include the exact names to protect the customers confidentiality.
Source: City utility billing records
2019 2010
City of Colleyville, Texas Table 10 Ratio of Outstanding Debt by Type Last Ten Fiscal Years (Unaudited) 117 General Sales Tax Water and Drainage Total Percentage Fiscal Obligation Revenue Capital Sewer Revenue Revenue Capital Primary of PersonalYear Bonds Bonds Leases Premium Bonds Bonds Leases Premium Government Income aPer Capita a2010 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 2019 4,155,000 4,775,000 443,674 - - 250,000 - - 9,623,674 4639.30% 379 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)
118
Percentage of
General Less: Available Actual Taxable
Fiscal Obligation Debt Service Value of
Year Bonds Funds Total Property
a Per Capita b
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 5,665,000 697,975 4,967,025 0.10% 199
2019 4,155,000 844,867 3,310,133 0.06% 130
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, 2019
(Unaudited)
119
Gross Bonded
Debt
Percentage of
Debt Applicable
to Area
Share of
Overlapping
Debt
Debt repaid with property taxes
Birdville Independent School District 397,327,084$ 0.07% 278,129$
Carroll Independent School District 306,677,164 0.37% 1,134,706
Grapevine-Colleyville Independent School District 435,416,058 22.76% 99,100,695
Hurst-Euless-Bedford Independent School District 383,550,000 1.58% 6,060,090
Keller Independent School District 649,855,320 3.50% 22,744,936
Tarrant County 266,375,000 2.96% 7,884,700
Tarrant County Hospital District 17,735,000 2.96% 524,956
Subtotal, overlapping debt 137,728,211
City of Colleyville (direct debt) 9,373,674 100.00% 9,373,674
Total direct and overlapping debt 147,101,885$
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)
120
Fiscal Total Less: Operating Net Available Annual Times
Year Revenues
a Expenses b Revenue Requirement
c Coverage
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
2019 15,167,016 13,779,337 1,387,679 - N/A
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
121
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
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 1,949,370 594,704 3.28
2019 1,036,849 677,196 359,652 125,000 2.88 1,944,792 602,176 3.23
Drainage Revenue Bonds Sales Tax Bonds
City of Colleyville, Texas Table 14
Demographic and Economic Statistics
Last Ten Calendar Years
(Unaudited)
122
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%
2019 25,370 207,438 72,927 14,042 2.1%
a North Central Texas Council of Governments
b Grapevine-Colleyville Independent School District
c Texas Workforce Commission
City of Colleyville, Texas Table 15 Principal Employers Current Year and Nine Years Ago (Unaudited) 123 Employer Employees Percentage of Total City Employment Employer Employees Percentage of Total City EmploymentGrapevine 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 201 1.94% 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 2,012 19.44% Total 1,995 19.57%Total Colleyville Daytime Employees 10,358 Total Colleyville Daytime Employees 10,198Source: City of Colleyville Economic Development 20192010
City of Colleyville, Texas Table 16 Full-Time Equivalent City Government Employees by Function/Program Last Ten Fiscal Years (Unaudited) 124 Function/Program 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019General governmentManagement services 4.00 4.00 4.00 4.00 4.00 4.00 3.75 5.00 4.20 3.20 Finance/court 6.00 6.00 6.00 8.00 8.00 8.00 8.00 9.00 9.00 9.00 Planning2.00 2.00 2.00 2.00 4.00 3.00 4.00 4.00 4.00 4.00 Building5.00 4.00 3.00 3.00 3.50 5.00 5.00 5.00 5.00 5.00 Other 9.50 11.00 11.00 13.00 11.63 13.52 14.14 12.14 12.80 11.80 PoliceOfficers 38.00 38.00 39.00 40.00 41.00 42.50 43.00 43.00 41.00 41.00 Civilians 13.00 6.00 6.00 6.00 6.50 7.00 6.50 6.00 8.00 8.00 FireFirefighters and officers 33.00 33.00 35.00 36.00 38.00 41.00 41.00 41.00 40.00 40.00 Civilians 2.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.50 1.50 Other public worksEngineering4.00 4.50 3.00 3.00 4.05 3.95 4.75 2.75 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 7.00 8.35 8.35 8.35 8.35 8.35 8.35 Parks and recreation 16.50 16.00 16.00 16.00 15.75 15.00 15.00 17.00 17.00 16.00 Library 9.50 11.50 11.50 12.00 13.00 13.63 13.00 13.00 13.00 12.50 Colleyville Center 4.50 4.50 4.50 3.50 4.00 4.50 4.50 4.00 4.00 4.00 Water/wastewater 28.00 24.00 24.50 23.00 24.68 25.03 24.23 25.60 24.70 24.70 Drainage6.00 6.00 6.00 7.00 6.00 6.00 6.41 6.41 6.20 6.20 Total194.00 184.50 185.50 187.50 196.45 204.48 205.63 206.25 204.50 201.00 Source: City budgetFiscal Year
City of Colleyville, Texas Table 17 Operating Indicators by Function/Program Last Ten Fiscal Years (Unaudited) 125 Function/Program 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019General governmentBuilding permits issued 77 104 155 103 108 181 182 136 169 111Building inspections conducted 6,149 6,737 8,310 8,292 7,807 7,307 8,940 10,666 11,981 10,519PolicePhysical arrests 764 666 653 632 863 800 918 602 715 491Calls for service 12,242 27,254 48,076 61,270 58,522 51,537 43,492 34,437 33,765 30,296Traffic violations 13,822 11,354 11,980 11,766 19,955 21,450 20,790 13,016 15,832 12,804FireEmergency responses 762 830 724 557 627 694 1,783 1,768 1,758 1,797Ambulance calls 751 765 803 829 950 959 1,037 967 1,000 1,004Inspections 784 397 342 306 317 363 400 361 239 386Other public worksStreet resurfacing (miles) 8.0 6.2 1.0 4.0 1.7 3.7 10.9 6.8 6.0 21.9Parks and recreationAthletic field participants 4,296 4,378 3,946 4,287 4,315 4,434 4,302 4,517 4,386 4,570Community center rentals 373 410 404 398 412 452 376 405 320 314LibraryVolumes in collection 58,147 62,997 65,740 69,736 74,525 77,664 80,452 82,182 71,188 70,161Total volumes borrowed 244,458 235,238 244,613 250,737 234,667 228,160 222,128 227,252 237,124 234,477WaterCustomers 9,014 9,103 9,285 9,396 9,507 9,631 9,858 9,987 10,215 10,422Average daily consumption (thousands of gallons) 5,990 7,928 7,217 6,785 6,539 6,451 5,889 6,355 6,508 6,794Peak daily consumption (thousands of gallons) 18,207 18,935 18,707 17,052 15,204 19,866 15,724 12,434 15,830 14,616WastewaterCustomers 8,389 8,457 8,603 8,731 8,817 8,905 9,071 9,270 9,444 9,453Source: City departmentsFiscal Year
City of Colleyville, Texas Table 18 Capital Asset Statistics by Function/Program Last Ten Fiscal Years (Unaudited) 126 Function/Program 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Police Stations 1 1 1 1 1 1 1 1 1 1 Patrol unites 13 13 12 12 12 13 13 13 13 13 FireStations 3 3 3 3 3 3 3 3 3 3 Public worksStreets (miles) 318 282 282 282 283 283 283 289 289 289 Streetlights 1,188 1,169 1,169 1,175 1,175 1,227 1,269 1,269 1,338 1,338 Traffic signals 2 2 2 2 2 2 2 2 2 2 Parks and recreationAcreage 224 224 224 224 224 224 225 225 225 225 Playgrounds 6 6 6 6 6 6 7 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 WaterWater mains (miles) 200 195 201 202 204 205 206 206 206 206 Fire hydrants 1,345 1,362 1,389 1,389 1,403 1,422 1,507 1,517 1,521 1,529 Storage capacity 9,900 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 (thousands of gallons)WastewaterSanitary sewer (miles 170 162 169 170 172 172 179 180 180 180 Storm sewers (miles) 63 58 64 58 60 67 69 70 70 70 Source: City departmentsa Baseball, softball, soccer and multipurpose fields combined through 2014Fiscal Year